MIRA
INFORM REPORT
|
Report Date : |
09.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
DICITEX HOME FURNISHINGS PRIVATE LIMITED (w.e.f. 18.11.2011) |
|
|
|
|
Formerly Known
As : |
MANOHAR PROCESSORS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
306, Shop No. 2, Kakad Aircondition Market, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation
: |
04.05.2000 |
|
|
|
|
Com. Reg. No.: |
11-126317 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 49.900 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101MH2000PTC126317 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCM7535R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing Home Furnishing and Ladies Apparel. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The company possesses a moderate financial profile marked by
acceptable networth base and moderate debt protection metrics along with large
working capital intensive operations. Management has witnesses decent revenue profile whereas, has reported
a low profit margin during FY 13. However, trade relations seem to be fair. Business is active. Payment
terms are reported as slow but correct. In view of extensive experience and on time support, 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 |
|
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. 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 that 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : “BB+” |
|
Rating Explanation |
Moderate risk of default regarding timely
servicing of financial obligations. |
|
Date |
28.12.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A4+” |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
28.12.2014 |
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 DECLINED BY
|
Name : |
Mr. Kinikar |
|
Designation : |
Exports Manager |
|
Contact No.: |
91-22-40812222 |
|
Date : |
09.09.2014 |
LOCATIONS
|
Registered Office : |
306, Shop No. 2, Kakad Aircondition Market, Kalbadevi Road, Mumbai –
400002, Maharashtra, India |
|
Tel. No. : |
91-22-40812222 |
|
Fax No. : |
91-22-28442644 |
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E-Mail : |
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|
Website : |
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|
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|
Corporate Office : |
301/9, Palm Court Complex, Malad Link Road, Malad (West), Mumbai –
400064, Maharashtra, India |
|
Tel. No.: |
91-22-30812222/ 40812222 |
DIRECTORS
As on 31.07.2013
|
Name : |
Mr. Nimish Manoharlal Arora |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
D. C. House, N. S. Road No. 10, Plot No. 4, Nutan Laxmi Society, JVPD
Scheme, Vile Parle (West), Mumbai - 400049, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
17.12.1972 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
04.05.2000 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AARPA2993B |
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DIN No. : |
00054001 |
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Other Directorship :
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|
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|
Name : |
Veena Manoharlal Arora |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
D. C. House, N. S. Road No. 10, Plot No. 4, Nutan Laxmi Society, JVPD
Scheme, Vile Parle (West), Mumbai - 400049, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.12.1943 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
04.05.2000 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No. : |
AADPA1464D |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No. : |
00163737 |
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Other Directorship :
|
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|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Manoharlal Dharamchand Arora |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
D. C. House, N. S. Road No. 10, Plot No. 4, Nutan Laxmi Society, JVPD
Scheme, Vile Parle (West), Mumbai - 400049, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.07.1942 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
04.05.2000 |
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|
PAN No. : |
AABPA5853G |
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DIN No. : |
00163773 |
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Other Directorship :
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|
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|
Name : |
Rajjnish Manoharlal Aroraa |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
D. C. House, N. S. Road No. 10, Plot No. 4, Nutan Laxmi Society, JVPD Scheme,
Vile Parle (West), Mumbai - 400049, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
23.09.1968 |
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Date of Appointment : |
04.05.2000 |
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|
PAN No. : |
AADPA1466B |
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DIN No. : |
00201764 |
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Other Directorship :
|
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KEY EXECUTIVES
|
Name : |
Mr. Kinikar |
|
Designation : |
Exports Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.07.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Manoharlal Dharamchand Arora |
124750 |
25.00 |
|
Veena Manoharlal Arora |
124750 |
25.00 |
|
Rajjnish Manoharlal Aroraa |
124750 |
25.00 |
|
Nimish Manoharlal Arora |
124750 |
25.00 |
|
Total |
499000 |
100.00 |
As on 31.07.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing Home Furnishing and Ladies Apparel. |
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|
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|
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|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||
|
|
|
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|
Bankers : |
· Union Bank of India, Goregaon (East) Branch, 172/73, Shri Sadan, Shanataben Estate, Goregaon (East), Mumnbai - 400063, Maharashtra, India Indian Bank, Mumbai Fort Branch, United India Building,
Sir P.M.Road, Fort, Mumbai - 400001, Maharashtra, India ·
Axis Bank Limited Kotak Mahindra Bank |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
NOTE: LONG TERM
BORROWINGS Term loans From Union Bank Of India in Rupees are secured by a first charge by way of hypothecation of all the Company's tangible moveable machinery and plant purchased under such Term Loans (b) Term Loans from Union Bank of India are secured by a first ranking pari passu mortgage over the leasehold land under the Land Lease Agreement and the building at G-7/2/2, MIDC, Tarapur, Thane with the pari passu charge of Indian Bank against the Land and building at G-7/2/2,MIDC, Tarapur, Thane against the Term Loans from Indian Bank.Also the collateral security of land situated at G-7/2/1, MIDC Tarapur, Thane and the building constructed thereon is given to Union Bank Of India for the Company's total credit facilities. SHORT TERM BORROWINGS Cash Credit limits from Union Bank of India is secured by
hypothecation of present and future stock of raw materials,
stocks-in-process, finished goods, stores and spares including the stock in
transit lying at the Company's premises or any other place and book debts not
older than 90 days of the Company.(b) Collateral security of land situated at
G-7/2/1, MIDC Tarapur, Thane and the building constructed thereon is given to
Union Bank Of India against the entire outstanding of cash credit loan. |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Bagaria and Company Chartered Accountants |
|
Address : |
316 A, Chacha Bhatija Building, Shivsena Gali, Bhayander (West), Bhayandar – 401101, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAGFB9902N |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
· Dicitex Furnishings Limited CIN No.: U17120MH1999PLC119692 D C Synthetics Private Limited CIN No.: U99999MH1981PTC024438 Bellevue Traders Private Limited CIN No.: U51420MH2001PTC130979 Dicitex Lifestyle Private Limited CIN No.: U17110MH2004PTC145216 Dicitex Retail Private Limited CIN No.:
U52100MH2012PTC232710 |
CAPITAL STRUCTURE
As on 31.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs.100/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
499,000 |
Equity Shares |
Rs.100/- each |
Rs. 49.900 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 |
49.900 |
49.900 |
49.900 |
|
(b) Reserves & Surplus |
83.850 |
80.223 |
79.385 |
|
(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) |
133.750 |
130.123 |
129.285 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
647.571 |
726.245 |
798.400 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
2.944 |
3.179 |
1.233 |
|
(d) long-term provisions |
3.018 |
2.514 |
0.000 |
|
Total Non-current Liabilities (3) |
653.533 |
731.938 |
799.633 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
268.999 |
188.548 |
138.784 |
|
(b) Trade payables |
115.642 |
79.007 |
87.207 |
|
(c) Other current
liabilities |
164.672 |
133.967 |
268.035 |
|
(d) Short-term provisions |
4.628 |
4.113 |
4.127 |
|
Total Current Liabilities (4) |
553.941 |
405.635 |
498.153 |
|
|
|
|
|
|
TOTAL |
1341.224 |
1267.696 |
1427.071 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
669.234 |
745.938 |
861.834 |
|
(ii) Intangible Assets |
0.005 |
0.013 |
0.033 |
|
(iii) Capital
work-in-progress |
1.459 |
4.240 |
0.012 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.050 |
0.050 |
0.050 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
16.445 |
11.255 |
13.919 |
|
(e) Other Non-current assets |
2.230 |
3.824 |
2.924 |
|
Total Non-Current Assets |
689.423 |
765.320 |
878.772 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
548.323 |
405.485 |
355.795 |
|
(c) Trade receivables |
88.938 |
61.797 |
142.299 |
|
(d) Cash and cash
equivalents |
(2.550) |
7.583 |
4.195 |
|
(e) Short-term loans and
advances |
12.991 |
15.966 |
18.151 |
|
(f) Other current assets |
4.099 |
11.545 |
27.859 |
|
Total Current Assets |
651.801 |
502.376 |
548.299 |
|
|
|
|
|
|
TOTAL |
1341.224 |
1267.696 |
1427.071 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1054.855 |
1056.535 |
1056.662 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
210.544 |
221.822 |
212.479 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
101.785 |
99.180 |
81.734 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
108.759 |
122.642 |
130.745 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
105.132 |
120.050 |
138.932 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
3.627 |
2.592 |
(8.187) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
1.754 |
(1.159) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
3.627 |
0.838 |
(7.028) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(32.481) |
(8.461) |
27.264 |
|
|
|
|
|
|
|
|
|
Less |
UTILISED FOR BUY
BACK |
-- |
-- |
0.175 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transferred to Capital Reserve |
18.758 |
24.858 |
28.522 |
|
|
BALANCE CARRIED
TO THE B/S |
(47.612) |
(32.481) |
(8.461) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
0.000 |
0.000 |
0.514 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
7.27 |
1.68 |
(14.06) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.34 |
0.25 |
(0.77) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.27 |
0.21 |
(0.57) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.02 |
(0.06) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
6.85 |
7.03 |
7.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18 |
1.24 |
1.10 |
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 |
49.900 |
49.900 |
49.900 |
|
Reserves & Surplus |
79.385 |
80.223 |
83.850 |
|
Net
worth |
129.285 |
130.123 |
133.750 |
|
|
|
|
|
|
long-term borrowings |
798.400 |
726.245 |
647.571 |
|
Short term borrowings |
138.784 |
188.548 |
268.999 |
|
Total
borrowings |
937.184 |
914.793 |
916.570 |
|
Debt/Equity
ratio |
7.249 |
7.030 |
6.853 |
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 |
1056.662 |
1056.535 |
1054.855 |
|
|
|
(0.012) |
(0.159) |
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 |
1056.662 |
1056.535 |
1054.855 |
|
Profit |
(7.028) |
0.838 |
3.627 |
|
|
(0.67%) |
0.08% |
0.34% |
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 |
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10453772 |
29/10/2013 * |
205,000,000.00 |
UNION BANK OF INDIA |
GOREGAON (EAST) BRANCH, 172/73, SHRI SADAN, SHANATABEN ESTATE,GOREGAON (EAST), MUMNBAI, MAHARASHTRA - 400063, INDIA |
B91387811 |
|
2 |
10335890 |
23/01/2012 |
10,000,000.00 |
UNION BANK OF INDIA |
GOREGAON (EAST) BRANCH, 172/73, SHRI SADAN, SHANATABEN ESTATE,GOREGAON (EAST), MUMNBAI, MAHARASHTRA - 400063, INDIA |
B32271579 |
|
3 |
10076057 |
11/09/2007 |
90,000,000.00 |
INDIAN BANK |
MUMBAI FORT BRANCH,UNITED INDIA BLD, SIR P.M.ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A27239839 |
|
4 |
10073947 |
30/08/2007 |
420,000,000.00 |
INDIAN BANK |
MUMBAI (FORT
BRANCH),UNITED INDIA BUILDING, SIR P |
A26121368 |
|
5 |
10004967 |
09/02/2010 * |
225,600,000.00 |
UNION BANK OF INDIA |
GOREGAON (EAST) BRANCH, 172/73, SHRI SADAN, SHANATABEN ESTATE,GOREGAON (EAST), MUMNBAI, MAHARASHTRA - 400063, INDIA |
A80020340 |
|
6 |
80025202 |
09/02/2010 * |
105,500,000.00 |
UNION BANK OF INDIA |
GOREGAON (EAST) BRANCH, 172/73, SHRI SADAN, SHANATABEN ESTATE,GOREGAON (EAST), MUMNBAI, MAHARASHTRA - 400063, INDIA |
A80021017 |
|
7 |
80025203 |
29/10/2013 * |
20,000,000.00 |
UNION BANK OF INDIA |
GOREGAON (EAST) BRANCH, 172/73, SHRI SADAN, SHANATABEN ESTATE,GOREGAON (EAST), MUMNBAI, MAHARASHTRA - 400063, INDIA |
B91389312 |
|
8 |
80051497 |
23/01/2012 * |
52,500,000.00 |
UNION BANK OF INDIA |
GOREGAON (EAST) BRANCH, 172/73, SHRI SADAN, SHANATABEN ESTATE,GOREGAON (EAST), MUMNBAI, MAHARASHTRA - 400063, INDIA |
B32270183 |
|
9 |
90148366 |
29/10/2013 * |
320,000,000.00 |
UNION BANK OF INDIA |
GOREGAON (EAST) BRANCH, 172/73, SHRI SADAN, SHANATABEN ESTATE,GOREGAON (EAST), MUMNBAI, MAHARASHTRA - 400063, INDIA |
B91388603 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Intercorporate borrowings |
22.764 |
14.538 |
|
Loans and advances from directors |
429.663 |
392.535 |
|
Total |
452.427 |
407.073 |
CHANGE OF ADDRESS
The registered office of the company has been shifted from 302, Shop No. 2, Kakad Aircondition Market, Kalbadevi Road, Mumbai – 400002, Maharashtra, India to the present address w.e.f. 18.11.2011.
RESULTS OF
OPERATION
During the year, the Turnover of the Company was Rs. 1054.800 Millions against Rs. 1056.500 Millions in the previous year. Thus the Company has maintained the sales and has achieved the profit after tax of Rs. 3.627 Millions as against the profit of Rs. 0.838 Millions achieved last year.
FIXED ASSETS
Tangible Assets
· Land
Buildings
plant
and equipment
Furniture
and fixtures
Motor
vehicles
Computer
equipments
Office
equipment
Other
equipments
Intangible Assets
· Computer 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.60.26 |
|
|
1 |
Rs.97.51 |
|
Euro |
1 |
Rs.77.94 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
|
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.