MIRA
INFORM REPORT
|
Report Date : |
05.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
LYKA LABS LIMITED |
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Registered
Office : |
4801/B and 4802/A, GIDC, Industrial Estate, Ankleshwar – 393002, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
29.12.1976 |
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Com. Reg. No.: |
04-008738 |
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Capital
Investment / Paid-up Capital : |
Rs.226.657 Millions |
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CIN No.: [Company Identification
No.] |
L24230GJ1976PLC008738 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BRDL00299F |
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PAN No.: [Permanent Account No.] |
AAACL0820G |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchange. |
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Line of Business
: |
Manufacturing and supplying pharmaceutical and freeze
dried products. |
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No. of Employees
: |
Information declined by
the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of continuous losses incurred by
a company from its two years of operation. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization policies.
A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED
MANAGEMENT NON COOPERATIVE. (91-22-66112200)
LOCATIONS
|
Registered Office / Factory: |
4801/B and 4802/A, GIDC, Industrial Estate, Ankleshwar – 393002,
Gujarat, India |
|
Tel. No.: |
91-2646-221422/220549 |
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Fax No.: |
91-2646-250692 |
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E-Mail : |
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Website : |
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Administrative / Corporate / Head Office : |
101, Shiv Shakti
Industrial Estate, Andheri-Kurla Road, Andheri (East), Mumbai - 400 059,
Maharashtra, India |
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Tel. No.: |
91-22-66112200 |
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Fax No.: |
91-22-66112248 |
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PLANTS: |
Formulation
Divisions: * 4801/B & 4802/A, G.I.D.C. Industrial Estate, Ankleshwar - 393 002, Gujarat, India * T/139, MIDC, Tarapur, Boisar - 401 501, Maharashtra,
India R and D Centre 101, Memon Industrial Estate, 1st Floor, MTNL Compound, Marol Maroshi Road, Marol Andheri (East), Mumbai - 400 059, Maharashtra, India |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Narendra Ishwarlal Gandhi |
|
Designation : |
Managing director |
|
Address : |
3-C, Ridge Apartments, B.C. Kher Marg, Malabar Hill, Mumbai-400006 Maharashtra, India |
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Date of Birth/Age : |
06.04.1950 |
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Date of Appointment : |
03.01.1977 |
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DIN No.: |
00021530 |
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Name : |
Mrs. Nehal Narendra Gandhi |
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Designation : |
Director |
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Address : |
3-C, Ridge Apartments, B.C. Kher Marg, Malabar Hill, Mumbai-400006 Maharashtra, India |
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Date of Birth/Age : |
30.09.1952 |
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Date of Appointment : |
04.02.1995 |
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DIN No.: |
00021580 |
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Name : |
Mr. Sandeep Padmakant Parikh |
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Designation : |
Director |
|
Address : |
B-7, Anand Bhavan, Bajaj Road, Vile Parle (West), Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
04.01.1960 |
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Date of Appointment : |
31.01.2007 |
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DIN No.: |
00022365 |
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Name : |
Mr. Dushyant Balmukund Parikh |
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Designation : |
Director |
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Address : |
32 Quail Run Road, Suffield – 06078, United States of America |
|
Date of Birth/Age : |
17.06.1952 |
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Date of Appointment : |
15.05.2006 |
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DIN No.: |
00368820 |
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Name : |
Mr. V S Shanbhag |
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Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Piyush Girish Hindia |
|
Designation : |
Company Secretary |
|
Address : |
B/20, Anand Sagar, Dr. Radhakrishnan Cross Road, Andheri (East),
Mumbai – 400069, Maharashtra, India |
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Date of Birth/Age : |
22.10.1957 |
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Date of Appointment : |
02.07.2008 |
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PAN No.: |
AAAPH3500J |
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Audit Committee: |
·
Mr. S Parikh ·
Mr. V A Sanghani ·
Mr. V S Shanbhag |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2014
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
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|
4824850 |
22.36 |
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|
202415 |
0.94 |
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|
5027265 |
23.30 |
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Total shareholding of Promoter and Promoter Group (A) |
5027265 |
23.30 |
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(B) Public Shareholding |
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|
3400 |
0.02 |
|
|
700 |
0.00 |
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|
130000 |
0.60 |
|
|
1445 |
0.01 |
|
|
1000 |
0.00 |
|
|
926311 |
4.29 |
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|
1062856 |
4.93 |
|
|
|
|
|
|
1772465 |
8.21 |
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|
|
|
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|
6977223 |
32.33 |
|
|
4568967 |
21.17 |
|
|
2171224 |
10.06 |
|
|
245694 |
1.14 |
|
|
275530 |
1.28 |
|
|
1650000 |
7.65 |
|
|
15489879 |
71.78 |
|
Total Public shareholding (B) |
16552735 |
76.70 |
|
Total (A)+(B) |
21580000 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
21580000 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and supplying pharmaceutical and freeze dried
products. |
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Products : |
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PRODUCTION STATUS AS ON 31.03.2012
|
Particulars |
Unit |
|
Actual
Production |
|
A. Bulk Drugs |
Kgs. |
|
# |
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B. Formulations: |
|
|
|
|
Capsules |
Nos. |
|
325000 |
|
Tablets |
Nos. |
|
300000 |
|
Ointments |
Kgs. |
|
300 |
|
Injectables |
Vials/ Ampoules |
|
30000 |
|
Syrup - Dry |
Bottles/ Sachets |
|
11250 |
|
- Liquid |
Litres |
|
-- |
Note:
* As certified by the management
** (i) Actual production of Bulk Drugs includes Production for Captive consumption. Actual Production of formulations includes quantity manufactured by processor.
(ii) Actual production of Bulk Drugs and Formulations does not include quantity manufactured for third party.
# Installed capacity has not been disclosed as this is
variable and subject to changes in product mix, and utilization of
manufacturing facilities, given the nature of operations.
GENERAL INFORMATION
|
No. of Employees : |
Information declined by
the management |
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Bankers : |
· Dena Bank · The Kapol Co-operative Bank Limited ·
Bank of Maharashtra |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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|
Auditors : |
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Name : |
M.A. Parikh and Company Chartered Accountants |
|
Address : |
Yusuf Building, 2nd Floor, 43, Mahatma Gandhi Road, Mumbai
– 400001, Maharashtra, India |
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PAN.: |
AAAFM1433H |
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|
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Branch Auditors : |
Thakorebhai Shirish Desai and Butala Chartered Accountants |
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Associates : |
·
Lyka Exports Limited ·
Lyka Securities and Investment Private Limited |
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|
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Subsidiaries : |
·
Lyka BDR International Limited |
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Entities owned by / over which is able to
exercise significant influence : |
·
Enai Trading and Investment Private Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.226.657 Millions
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
24000000 |
Equity Shares |
Rs.10/- each |
Rs.240.000 Millions |
|
200000 |
Redeemable Preference Shares |
Rs.100/- each |
Rs.20.000 Millions |
|
|
TOTAL |
|
Rs.260.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
21580000 |
Equity Shares |
Rs.10/- each |
Rs.215.800
Millions |
|
108570 |
10% Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs.10.857
Millions |
|
|
TOTAL |
|
Rs.226.657 Millions |
Note:
Details of Shares held
by each shareholder holding more than 5% shares
|
Name of the
Shareholder |
As at 31st March,
2013 |
|
|
Authorised Equity
Shares of Rs. 10/- each |
Number of Shares held |
% of Shares |
|
Narendra I Gandhi (HUF) |
12,70,776 |
5.89% |
|
Kunal Narendra Gandhi |
11,51,642 |
5.34% |
|
Nehal Narendra Gandhi |
1,369,803 |
6.35% |
|
Clearwater Capital Partners Cyprus |
1,650,000 |
7.65% |
|
10% Cumulative Redeemable Preference Shares of Rs.100/- each Dr. D. B. Parikh |
108,570 |
100.00% |
|
Particulars |
As at 31st March,
2013 |
|
|
|
Equity Shares |
Preference Shares |
|
No. of shares at the beginning of the year |
21,580,000 |
108570 |
|
No. of shares at the end of the year |
21,580,000 |
108570 |
4,000,000 Equity shares of Rs.10/- each were issued on dated 07.12.2005 on conversion of Global Depository Receipts.
1.4 108,570 10% Cumulative Redeemable Preference Shares of Rs.100 each fully paid up redeemable at the option of the company but not later than 20 years from the date of allotment.
1.5 Rights, preferences and restriction attached to equity shares:
The Company has only one class of equity shares having par value of Rs.10 per share. Each holder of equity share is entitles to one vote per share.
In the event of liquidation of the Company, the holders of the equity shares will be entilted to receive remaining assets of the company after distribution of all preferential amounts .The distribution will be in the proportion to the number of equity shares held by the share holders.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
226.657 |
226.657 |
226.657 |
|
(b) Reserves & Surplus |
450.688 |
454.045 |
515.513 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
677.345 |
680.702 |
742.170 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
693.085 |
617.810 |
511.226 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
2.241 |
8.520 |
8.620 |
|
(d) long-term provisions |
36.787 |
31.332 |
26.015 |
|
Total
Non-current Liabilities (3) |
732.113 |
657.662 |
545.861 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
379.931 |
448.313 |
418.014 |
|
(b) Trade payables |
345.805 |
376.976 |
433.305 |
|
(c) Other current liabilities |
462.674 |
303.964 |
245.639 |
|
(d) Short-term provisions |
2.282 |
6.722 |
6.853 |
|
Total
Current Liabilities (4) |
1190.692 |
1135.975 |
1103.811 |
|
|
|
|
|
|
TOTAL |
2600.150 |
2474.339 |
2391.842 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
906.205 |
925.647 |
837.734 |
|
(ii) Intangible Assets |
31.143 |
68.456 |
108.249 |
|
(iii) Capital work-in-progress |
91.934 |
28.927 |
0.000 |
|
(iv) Intangible assets under
development |
92.803 |
85.322 |
80.005 |
|
(b) Non-current Investments |
202.692 |
202.162 |
202.135 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
155.495 |
153.495 |
175.495 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1480.272 |
1464.009 |
1403.618 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.100 |
|
(b) Inventories |
95.037 |
145.555 |
149.679 |
|
(c) Trade receivables |
266.147 |
593.221 |
494.975 |
|
(d) Cash and cash equivalents |
23.486 |
45.618 |
18.236 |
|
(e) Short-term loans and
advances |
721.304 |
212.032 |
311.355 |
|
(f) Other current assets |
13.904 |
13.904 |
13.879 |
|
Total
Current Assets |
1119.878 |
1010.330 |
988.224 |
|
|
|
|
|
|
TOTAL |
2600.150 |
2474.339 |
2391.842 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
700.172 |
947.271 |
1398.117 |
|
|
Other Income |
55.131 |
37.235 |
53.314 |
|
|
TOTAL
(A) |
755.303 |
984.506 |
1451.431 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
376.737 |
462.122 |
674.415 |
|
|
Purchases of Stock-in-Trade |
33.410 |
105.681 |
268.758 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
36.125 |
(1.108) |
(17.213) |
|
|
Employees benefits expense |
119.101 |
117.441 |
177.117 |
|
|
Other expenses |
203.385 |
146.672 |
212.578 |
|
|
TOTAL
(B) |
768.758 |
830.808 |
1315.655 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(13.455) |
153.698 |
135.776 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
171.906 |
151.192 |
225.552 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(185.361) |
2.506 |
(89.776) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
42.874 |
32.990 |
54.589 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(228.235) |
(30.484) |
(144.365) |
|
|
|
|
|
|
|
Less |
TAX
(I) |
114.181 |
(2.474) |
(87.215) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
(342.416) |
(28.010) |
(57.150) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Export of goods on FOB basis |
NA |
61.547 |
10.413 |
|
|
Transfer of
Technology/know-how |
NA |
14.123 |
6.482 |
|
|
TOTAL
EARNINGS |
NA |
75.670 |
16.895 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials & Packing
Materials |
NA |
127.693 |
140.825 |
|
|
TOTAL
IMPORTS |
NA |
127.693 |
140.825 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.13 |
(1.35) |
(2.72) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
(45.33) |
(2.85) |
(3.94) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(32.60) |
(3.22) |
(10.33) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(10.31) |
(1.41) |
(6.84) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.34) |
(0.04) |
(0.19) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.58 |
1.57 |
1.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.94 |
0.89 |
0.90 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
226.657 |
226.657 |
226.657 |
|
Reserves & Surplus |
515.513 |
454.045 |
450.688 |
|
Net
worth |
742.170 |
680.702 |
677.345 |
|
|
|
|
|
|
long-term borrowings |
511.226 |
617.810 |
693.085 |
|
Short term borrowings |
418.014 |
448.313 |
379.931 |
|
Total
borrowings |
929.240 |
1066.123 |
1073.016 |
|
Debt/Equity
ratio |
1.252 |
1.566 |
1.584 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1398.117 |
947.271 |
700.172 |
|
|
|
(32.247) |
(26.085) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1398.117 |
947.271 |
700.172 |
|
Profit |
(57.150) |
(28.010) |
(342.416) |
|
|
(4.09%) |
(2.96%) |
(48.90%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Deposits |
NA |
133.417 |
|
Long-term maturities of finance lease obligations |
NA |
0.344 |
|
Sales Tax Deferement Scheme |
NA |
2.699 |
|
Short-term
borrowings |
|
|
|
Loans and Advances from related parties |
NA |
0.647 |
|
Short Term Advances |
NA |
70.593 |
|
Inter Corporate Deposits |
NA |
23.333 |
|
Total |
NA |
231.033 |
|
NOTE: (As on
31.03.2013) Short-term
borrowings Loans taken from Lyka Securities Private Limited. @ 15% interest which are repayable on half yearly basis. Inter Corporate Deposits interest ranging from 16% to 24% and repayable at quarterly / half yearly / yearly basis. |
||
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10292052 |
09/04/2012 * |
200,000,000.00 |
IL AND FS TRUST COMPANY LIMITED |
IL AND FS FINANCIAL
CENTREPLOT NO C22 G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI,
MAHARASHTRA |
B40224867 |
|
2 |
10286574 |
17/02/2014 * |
140,000,000.00 |
BANK OF MAHARASHTRA |
INDUSTRIAL FINANCE BRANCH, DR. V. B. GANDHI MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B98847858 |
|
3 |
10268383 |
04/04/2012 * |
76,500,000.00 |
THE KAPOL CO-OPERATIVE BANK LIMITED |
107/108, D- WING, SHYAM KAMAL BLDG., NEAR B N AGARWAL MARKET, VILE PARLE (EAST), MUMBAI, MAHARASHTRA - 400057, INDIA |
B38927331 |
|
4 |
10148364 |
09/02/2009 |
15,700,000.00 |
DENA BANK |
67-A KRISHNA BHAVAN,, NEHRU ROAD, VILE PARLE (EAST), MUMBAI, MAHARASHTRA - 400057, INDIA |
A59084814 |
|
5 |
10069537 |
28/09/2012 * |
815,400,000.00 |
DENA BANK |
67-A, KRISHNA BHAVAN, NEHRU ROAD, VILE PARLE (EAST), MUMBAI, MAHARASHTRA - 400057, INDIA |
B60771649 |
|
6 |
10007240 |
01/06/2006 |
30,000,000.00 |
DENA BANK |
CORPORATE BUSINESS
BRANCH, C-10, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (EAST), MUMBAI,
MAHARASHTRA |
A01724541 |
|
7 |
90100112 |
16/09/2005 |
250,000,000.00 |
CLEARWATER PARTNERS INDIA PRIVATE LIMITED |
17TH; FLOOR; NIRMAL BUILDING, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
8 |
90100096 |
12/08/2005 |
27,000,000.00 |
THE KAPOL CO-OP BANK LIMITED |
VILE- PARLE (EAST) BRANCH,
107/108; SHYAM KAMAL; D WING; VILE- PARLE (EAST), MUMBAI, MAHARASHTRA - |
- |
|
9 |
90100019 |
31/03/2005 |
20,000,000.00 |
DENA BANK |
NEHRU ROAD,
VILE-PARLE (E), MUMBAI, MAHARASHTRA - |
- |
|
10 |
90096840 |
25/06/2003 |
10,000,000.00 |
THE KAPOL CO-OP BANK LIMITED |
VILE- PARLE (EAST)
BRANCH; 107/108, SHYAM KAMAL; D WING; VILE- PARLE (EAST), MUMBAI, MAHARASHTRA
- |
- |
* Date of charge modification
FIXED ASSETS
Tangible Assets:
· Land (Leasehold)
· Buildings
· Plant and Machinery
· Vehicles
· Furniture and Fixtures
· Office Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.45 |
|
|
1 |
Rs.99.46 |
|
Euro |
1 |
Rs.79.46 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.