1. Summary Information
|
|
|
Country |
|
|
Company Name |
PERSANG ALLOY
INDUSTRIES PRIVATE LIMITED |
Principal Name 1 |
Mr. Persang Jal Bavaadam |
|
Status |
Moderate |
Principal Name 2 |
Mr. Aadil Jal Bavaadam |
|
|
|
Registration # |
04-049950 |
|
Street Address |
353, GIDC
Estate, Waghodia, District Vadodara – 391760, |
||
|
Established Date |
09.02.2007 |
SIC Code |
-- |
|
Telephone# |
91-2668-262718/9/265-2312933 |
Business Style 1 |
Manufacture |
|
Fax # |
91-3668-262556 |
Business Style 2 |
- |
|
Homepage |
Product Name 1 |
5S Alloy |
|
|
# of employees |
75
(Approximately) |
Product Name 2 |
Fluxes |
|
Paid up capital |
Rs.17,500,000/- |
Product Name 3 |
Lead Free Bar |
|
Shareholders |
Directors or relatives of
directors- 100% |
Banking |
Bank of |
|
Public Limited Corp. |
NO |
Business Period |
7 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
B
(32) |
|
Related Company |
|||
|
Relation
|
Country
|
Company
Name |
|
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
156,679,000 |
Current Liabilities |
120,693,000 |
|
Inventories |
79,326,000 |
Long-term Liabilities |
131,345,000
|
|
Fixed Assets |
48,683,000 |
Other Liabilities |
935,000 |
|
Deferred Assets |
000 |
Total Liabilities |
252,973,000 |
|
Invest& other Assets |
11,457,000 |
Retained Earnings |
25,672,000 |
|
|
|
Net Worth |
43,172,000 |
|
Total Assets |
296,145,000 |
Total Liab. & Equity |
296,415,000 |
|
Total Assets (Previous Year) |
271,200,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
489,508,000 |
Net Profit |
2,774,000 |
|
Sales(Previous yr) |
535,886,000 |
Net Profit(Prev.yr) |
5,854,000 |
MIRA
INFORM REPORT
|
Report Date : |
04.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
PERSANG ALLOY INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
353, G.I.D.C. Estate, Waghodia, Vadodara – 391760, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
09.02.2007 |
|
|
|
|
Com. Reg. No.: |
04-049950 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.21.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25192GJ2007PTC049950 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDP02199B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECP1424A |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer of solders, soldering chemicals and Alloys |
|
|
|
|
No. of Employees
: |
75 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 170000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial
risk profile marked by leveraged capital structure and stretched liquidity
position of the company. However, trade relations are fair. Business is active. Payments 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
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
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
.
. Ukrain’s clashes with rebels hinder MH17 crash investigation
.
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in
. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
“BB-” (cash credit facility) |
|
Rating Explanation |
Inadequate credit quality and high credit risk |
|
Date |
May, 2014 |
|
|
|
|
Rating Agency Name |
ICRA |
|
Rating |
“A4” (LC – DP/DA) |
|
Rating Explanation |
minimal degree of safety and very high credit risk |
|
Date |
May, 2014 |
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 PARTED BY (General Details)
|
Name : |
Ms. Vaishali |
|
Designation : |
Accountant |
|
Contact No.: |
91-265-2312933 |
|
Date : |
28.08.2008 |
LOCATIONS
|
Registered Office/ Factory : |
353, GIDC Estate, Waghodia, District Vadodara – 391760, |
|
Tel. No.: |
91-2668-262718-9 |
|
Mobile No.: |
91-9998016446 (Mr. Vipin Shah) |
|
Fax No.: |
91-2668-262556 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
50000 sq ft |
|
Location : |
Owned |
|
|
|
|
Administrative Office : |
13/A, Shrinagar Society, 4, Shreeniketan Apartments, Road-A, Akota Road,
Vadodara - 390020, Gujarat, India |
|
Tel. No.: |
91-265-2312933, 2330606, 2331328 |
|
Fax No.: |
91-265-2310647 |
|
E-Mail : |
|
|
Area : |
300 sq ft |
|
Location : |
Owned |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Persang Jal Bavaadam |
|
Designation : |
Managing Director |
|
Address : |
63, |
|
Date of Birth/Age : |
08.06.1965 |
|
Date of Appointment : |
11.03.2007 |
|
PAN No.: |
ADCPB7474L |
|
DIN No.: |
01051079 |
|
|
|
|
Name : |
Mr. Aadil Jal Bavaadam |
|
Designation : |
Whole Time Director |
|
Address : |
61/62/63, |
|
Date of Birth/Age : |
11.08.1971 |
|
Date of Appointment : |
11.03.2007 |
|
PAN No.: |
ADCPB7474M |
|
DIN No.: |
01051095 |
|
|
|
|
Name : |
Mr. Firdosh Gustadji Bavaadam |
|
Designation : |
Director |
|
Address : |
402, Shukh Shanti Apartments, Wykes Compound, Fatehgunj, Vadodara
– 39007, |
|
Date of Birth/Age : |
28.04.1948 |
|
Date of Appointment : |
09.02.2007 |
|
PAN No.: |
ABVPB9609E |
|
DIN No.: |
02272732 |
|
|
|
|
Name : |
Mr. Bakhtawar Firdosh Bavaadam |
|
Designation : |
Director |
|
Address : |
402, Shukh Shanti Apartments, Wykes Compound, Fatehgunj,
Vadodara – 39007, |
|
Date of Birth/Age : |
02.01.1958 |
|
Date of Appointment : |
09.02.2007 |
|
DIN No.: |
02272727 |
|
|
|
|
Name : |
Mr. Jal Gustadi Bavaadam |
|
Designation : |
Whole Time Director |
|
Address : |
63, |
|
Date of Birth/Age : |
30.11.1933 |
|
Date of Appointment : |
11.03.2007 |
|
PAN No.: |
ADVPB9608F |
|
DIN No.: |
03576368 |
|
|
|
|
Name : |
Mrs. Frenyben Jal Bavaadam |
|
Designation : |
Director |
|
Address : |
60/61, |
|
Date of Birth/Age : |
18.09.1946 |
|
Date of Appointment : |
09.02.2007 |
|
PAN No.: |
ADCPB7477K |
|
DIN No.: |
03576366 |
|
|
|
|
Name : |
Mrs. Sannu Persang Bavaadam |
|
Designation : |
Director |
|
Address : |
61-62, |
|
Date of Birth/Age : |
21.09.1972 |
|
Date of Appointment : |
09.02.2007 |
|
DIN No.: |
02703033 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 11.03.2014
|
Names of Shareholders |
No. of Shares |
|
|
|
|
Mr. Persang Jal Bavaadam |
250000 |
|
|
|
|
Total |
250000 |
As on: 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Persang Jal Bavaadam |
525000 |
30.00 |
|
Adil Jal Bavaadam |
525000 |
30.00 |
|
Firdosh Gustadji Bavaadam |
100000 |
5.72 |
|
BaktawaarFirdosh Bavaadam |
75000 |
4.28 |
|
Jal Gustadji Bavaadam |
187500 |
10.71 |
|
Bavaadam |
162500 |
9.29 |
|
Sanoo Persang Bavvadam |
175000 |
10.00 |
|
|
|
|
|
Total |
1750000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of solders, soldering chemicals and Alloys |
|
|
|
|
Products : |
·
5S Alloy ·
Fluxes ·
Lead Free Bar ·
Lead Free BGA Sphere ·
Lead Free Solder Paste ·
Lead Free Wire ·
Plating Anodes ·
SnPb Bar Solders ·
SnPb Solders Paste ·
SnPb Solders Wire |
|
Terms : |
|
|
Selling : |
Cash, Cheque and Credit |
|
|
|
|
Purchasing : |
Cash, Cheque and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Sizer Metal Private Limited ·
Fiber Loser Private Limited |
|
|
|
|
Customers : |
·
MIRC Electronic Limited, (Mumbai) ·
Standard Radiators Private Limited, (Vadodara) |
|
|
|
|
No. of Employees : |
75 (Approximately) |
|
|
|
|
Bankers : |
·
Bank of India, Vadodara Mid Corporate Branch,
Bank of India Building, 2nd Floor, Raopura, Vadodara – 3900001,
Gujarat, India ·
Kotak Mahindra Bank Limited, |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vikas Manohar and Company Chartered Accountants |
|
Address : |
101, Shagun Appartment, 42/A, Shiv Mahel Society, Bh.Malhar Point, Old
Padra Road, Vadodara – 390015, Gujarat, India |
|
Tel. No.: |
91-265-2350108 |
|
Mobile No.: |
91-9426081820 |
|
Fax No.: |
91-265-3054828 |
|
E-Mail : |
|
|
PAN No.: |
ACEPM8368D |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1750000 |
Equity Shares |
Rs.10/- each |
Rs.17.500
Millions |
|
|
|
|
|
After: - 30.09.2013
Authorised Capital: - Rs. 22.500 Millions
Issued, Subscribed & Paid-up Capital: - Rs.21.500
Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
17.500 |
17.500 |
17.500 |
|
(b) Reserves & Surplus |
25.672 |
22.898 |
18.061 |
|
(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) |
43.172 |
40.398 |
35.561 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
18.821 |
33.803 |
51.014 |
|
(b) Deferred tax liabilities (Net) |
0.823 |
0.874 |
1.275 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
19.644 |
34.677 |
52.289 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
112.524 |
77.136 |
95.512 |
|
(b)
Trade payables |
107.261 |
106.989 |
47.848 |
|
(c)
Other current liabilities |
13.432 |
9.952 |
14.948 |
|
(d) Short-term provisions |
0.112 |
2.048 |
3.018 |
|
Total Current
Liabilities (4) |
233.329 |
196.125 |
161.326 |
|
|
|
|
|
|
TOTAL |
296.145 |
271.200 |
249.176 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
48.683 |
52.527 |
55.208 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.957 |
0.776 |
0.671 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
10.500 |
10.500 |
10.500 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
6.622 |
6.427 |
6.460 |
|
(e) Other
Non-current assets |
0.452 |
0.222 |
0.222 |
|
Total Non-Current
Assets |
67.214 |
70.452 |
73.061 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
|
|
|
(b)
Inventories |
79.326 |
78.264 |
41.180 |
|
(c)
Trade receivables |
100.880 |
84.672 |
91.659 |
|
(d) Cash
and cash equivalents |
5.316 |
5.881 |
6.980 |
|
(e)
Short-term loans and advances |
10.132 |
0.082 |
13.301 |
|
(f)
Other current assets |
33.277 |
31.849 |
22.995 |
|
Total
Current Assets |
228.931 |
200.748 |
176.115 |
|
|
|
|
|
|
TOTAL |
296.145 |
271.200 |
249.176 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
485.094 |
533.226 |
509.431 |
|
|
|
Other Income |
4.414 |
2.660 |
1.050 |
|
|
|
TOTAL (A) |
489.508 |
535.886 |
510.481 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
NA |
469.778 |
422.034 |
|
|
|
Purchase of Traded Goods |
|
5.136 |
11.215 |
|
|
|
Accretion/ Decretion of Finished Stock |
NA |
2.583 |
6.857 |
|
|
|
Manufacturing Expenses |
NA |
5.450 |
6.819 |
|
|
|
Employee Benefit Expanses |
NA |
10.481 |
12.736 |
|
|
|
Other Expenses |
NA |
8.135 |
11.937 |
|
|
|
TOTAL (B) |
NA |
501.563 |
471.598 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
34.323 |
38.883 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
22.193 |
18.018 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
12.130 |
20.865 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
4.539 |
4.292 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
NA |
7.591 |
16.573 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
1.737 |
4.096 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.774 |
5.854 |
12.477 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
17.403 |
13.567 |
4.821 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1.000 |
1.000 |
2.000 |
|
|
|
Interim Dividend |
0.000 |
0.875 |
1.500 |
|
|
|
Tax on Interim Dividend |
0.000 |
0.142 |
0.231 |
|
|
BALANCE CARRIED
TO THE B/S |
19.178 |
17.403 |
13.567 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sales |
NA |
48.496 |
71.921 |
|
|
|
Deemed Export Sales |
NA |
0.000 |
8.466 |
|
|
TOTAL EARNINGS |
NA |
48.496 |
80.387 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
63.200 |
323.500 |
|
|
TOTAL IMPORTS |
NA |
63.200 |
323.500 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.58 |
3.34 |
14.97 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.57 |
1.09 |
2.44 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
1.42 |
3.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
2.92 |
6.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.19 |
0.47 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.74 |
2.75 |
4.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.98 |
1.02 |
1.09 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
17.500 |
17.500 |
17.500 |
|
Reserves & Surplus |
18.061 |
22.898 |
25.672 |
|
Net
worth |
35.561 |
40.398 |
43.172 |
|
|
|
|
|
|
long-term borrowings |
51.014 |
33.803 |
18.821 |
|
Short term borrowings |
95.512 |
77.136 |
112.524 |
|
Total
borrowings |
146.526 |
110.939 |
131.345 |
|
Debt/Equity
ratio |
4.120 |
2.746 |
3.042 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
509.431 |
533.226 |
485.094 |
|
|
|
4.671 |
(9.027) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
509.431 |
533.226 |
485.094 |
|
Profit |
12.477 |
5.854 |
2.774 |
|
|
2.45% |
1.10% |
0.57% |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
Yes |
|
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 |
No |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
OPERATIONS: -
Subject is a leading player in both lead-based and lead-free solder products, solder paste and fluxes and it is catering to the growing demands of Automobile, Electronics and Electrical industries. It endeavors to maintain a long-term association with the customers by satisfying their evolving needs.
The management’s focus is on enhancing the business rnodel to serve the customers and to grow and sustain in the expanding domestic and international market while building long term relationship with the customers domestic and internationally.
During the under consideration the gross revenue of the Company has shown a growth of 4.96 % approx over the corresponding previous year. However, the profit before taxes has decrease by 54.21%. The declination in the profit is due to increase in raw material cost affected by reverse foreign exchange rates, high finance cost, liquidity crunch due to slow realization of debtors, investment made in joint venture company that has yet to yield any dividends as well as due to repayment of term loan installments.
Note:
The registered office of the company has been shifted from 188/7, GIDC Estate,
Waghodia, Vadodara – 391760,
INDEX OF CHARGES: -
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10285709 |
07/05/2011 |
15,000,000.00 |
BANK OF |
VADODARA MID CORPORATE BRANCH, BANK OF |
B12353884 |
|
2 |
10240889 |
21/08/2010 |
30,000,000.00 |
BANK OF |
VADODARA MID CORPORATE BRANCH, BANK OF |
A94419405 |
|
3 |
10066909 |
17/11/2011 * |
152,630,000.00 |
BANK OF |
VADODARA MID CORPORATE BRANCH, BANK OF |
B25872276 |
|
4 |
10065857 |
28/04/2014 * |
134,700,000.00 |
BANK OF |
VADODARA MID CORPORATE BRANCH, 2ND FLOOR, BANK OF |
C16532814 |
|
5 |
10062532 |
28/07/2007 |
280,000.00 |
BANK OF |
|
A20350625 |
|
6 |
10065842 |
28/07/2007 |
912,000.00 |
BANK OF |
|
A20350807 |
|
7 |
10062524 |
27/06/2007 |
900,000.00 |
BANK OF |
|
A20350906 |
|
8 |
10039326 |
09/02/2007 |
43,163,000.00 |
BANK OF |
|
A11359429 |
|
9 |
10039370 |
09/02/2007 |
43,163,000.00 |
BANK OF |
|
A11359833 |
FIXED ASSETS: -
Tangible Assets
·
· Plant and Machinery
· Computers and Peripherals
· Moulds and Dies
· Outlander Vehicle
· Furniture and Fixture
Intangible Assets
· SAP Software
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.60.47 |
|
|
1 |
Rs.100.42 |
|
Euro |
1 |
Rs.79.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
32 |
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.