MIRA
INFORM REPORT
|
Report Date : |
12.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
ORIENTAL RUBBER INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.01.1949 |
|
|
|
|
Com. Reg. No.: |
11-006875 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 37.275 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25199PN1949PLC006875 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEO01206C PNEO00948D PNEO00232B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO1592L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Rubber Products and Conveyor Belts. |
|
|
|
|
No. of Employees
: |
Information Decline by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a well-established company having satisfactory track
record. The company possesses an improving financial profile marked by
moderate networth base and debt protection metrics albeit constrained by an aggressive
gearing due to large working capital requirements. Management has seen an increase in its sales volume as well as net
profitability during FY 13. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of established market position supported by diversified
product portfolio and established clientele, the subject can be considered
for business dealings at usual trade terms and conditions. |
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 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating: (BBB) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
18.06.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: (A3+) |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
18.06.2014 |
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
MANAGEMENT NON-COOPERATIVE. (TEL. NO.: 91-20-66270800)
LOCATIONS
|
Registered Office : |
Shravani Gardens, 20, Viman Nagar, Nagar Road, Pune – 411
014, Maharashtra, India |
|
Tel. No.: |
91-20-66270800 / 842 |
|
Fax No.: |
91-20-26680810/ 26630840 / 66270846 |
|
E-Mail : |
orientalrubber@sm3.sprintrpg.ems.vsnl.net.in mukesh@orientalrubber.com |
|
Website : |
|
|
Area : |
4000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1: |
Gat Nos.519/2, 521/2, 523 and 525, Village Koregaon, Taluka Shirur,
Bhima Nagar Road, District Pune – 412 207, Maharashtra, India |
|
Area : |
9 Acers |
|
Location : |
Owned |
|
|
|
|
Factory 2: |
735, 736, 738 and 1268 Shikrapur, Karandegaon, Chakan, Pune,
Maharashta, India |
|
Area : |
16 Acers |
|
Location : |
Owned |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Makar Vijeynand Vikram |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
Cluster 1/8, Kumar City, Kalyani Nagar, Pune – 411014, Maharashtra, India |
|
Date of Birth/Age : |
29.01.1963 |
|
Qualification : |
B. Com and Rubber Technology |
|
Date of Appointment : |
13.08.2012 |
|
PAN No.: |
ABXPM9797J |
|
DIN No.: |
00020284 |
|
|
|
|
Name : |
Mr. Vishal Vijeynand Makar |
|
Designation : |
Managing Director |
|
Address : |
Cluster 1/13 and 14, Kumar City, Kalyani Nagar, Pune – 411 014,
Maharashtra, India |
|
Date of Birth/Age : |
22.08.1965 |
|
Qualification : |
Chemical Engineer, PG in Polymer Sciences and B. Com |
|
Date of Appointment : |
13.08.2012 |
|
PAN No.: |
AAGPM4659K |
|
DIN No.: |
00020253 |
|
|
|
|
Name : |
Mr. Satish Kotian |
|
Designation : |
Whole-Time Director |
|
Address : |
Flat No. E-1/401 Madhuban Classics, Vishrantwadi, Pune – 411 015,
Maharashtra, India |
|
Date of Birth/Age : |
28.04.1958 |
|
Date of Appointment : |
13.08.2012 |
|
DIN No.: |
06374939 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Vijeynand Sadanand Makar |
5 |
|
Kamlesh Vijeynand
Makar |
138485 |
|
Vishal Vijeynand
Makar |
1793992 |
|
Vikram Vijeynand
Makar |
1793992 |
|
Meetashi
Vishal Makar |
500 |
|
Poonam Vikram Makar |
500 |
|
Punvick Investments Private Limited, India |
25 |
|
Quadrant Trades Private Limited, India |
1 |
|
|
|
|
Total
|
3727500 |
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 Rubber Products and Conveyor Belts. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Conveyor and Transmission Belts |
16500 MT |
15300 MT |
911681 Meters |
|
Other Rubber Products |
8500 MT |
2200 MT |
2011390 Kgs |
Installed capacity depends upon the product
mix, which has been certified by the management and accepted by the auditors
without verification, being a technical matter.
GENERAL INFORMATION
|
No. of Employees : |
Information Decline by the management |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
Corporation Bank, Industrial Finance Branch, 14,
Pune Mumbai Road, Wakdewadi, Pune – 411 003, Maharashtra, India
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs. In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M L Deshmukh and Associates Chartered Accountants |
|
Address : |
B555, Narayanpeth, Pune, Maharashtra, India |
|
PAN No.: |
ABDPD7455J |
|
|
|
|
Step Down Subsidiary of the company : |
Oriental Rubber Industries (SA) Pty Limited, South Africa |
|
|
|
|
Company in which Directors are directors : |
Quadrant Trades Private Limited |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3727500 |
Equity Shares |
Rs.10/- each |
Rs. 37.275
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 |
37.275 |
14.910 |
14.910 |
|
(b) Reserves & Surplus |
647.031 |
521.439 |
374.938 |
|
(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) |
684.306 |
536.349 |
389.848 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
105.605 |
138.993 |
129.480 |
|
(b) Deferred tax liabilities (Net) |
40.210 |
38.432 |
24.600 |
|
(c) Other long term liabilities |
3.079 |
2.416 |
2.019 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
148.894 |
179.841 |
156.099 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
850.773 |
764.709 |
746.162 |
|
(b) Trade payables |
575.024 |
518.403 |
381.824 |
|
(c) Other current
liabilities |
29.007 |
18.642 |
3.540 |
|
(d) Short-term provisions |
87.283 |
69.830 |
24.730 |
|
Total Current Liabilities (4) |
1542.087 |
1371.584 |
1156.256 |
|
|
|
|
|
|
TOTAL |
2375.287 |
2087.774 |
1702.203 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
490.722 |
458.525 |
324.994 |
|
(ii) Intangible Assets |
0.198 |
0.161 |
0.017 |
|
(iii) Capital
work-in-progress |
33.437 |
41.415 |
93.327 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
20.707 |
8.171 |
8.171 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
5.173 |
3.076 |
3.685 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
550.237 |
511.348 |
430.194 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
474.505 |
468.683 |
442.030 |
|
(c) Trade receivables |
1185.661 |
909.887 |
647.252 |
|
(d) Cash and cash
equivalents |
56.461 |
36.761 |
33.872 |
|
(e) Short-term loans
and advances |
23.541 |
28.516 |
19.824 |
|
(f) Other current
assets |
84.882 |
132.579 |
129.031 |
|
Total Current Assets |
1825.050 |
1576.426 |
1272.009 |
|
|
|
|
|
|
TOTAL |
2375.287 |
2087.774 |
1702.203 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3245.600 |
2946.619 |
2027.279 |
|
|
|
Other Income |
8.204 |
2.688 |
5.631 |
|
|
|
TOTAL (A) |
3253.804 |
2949.307 |
2032.910 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2446.132 |
2257.330 |
1432.468 |
|
|
|
Employee benefit expense |
107.717 |
87.167 |
110.568 |
|
|
|
Other expenses |
257.667 |
214.686 |
270.601 |
|
|
|
TOTAL (B) |
2811.516 |
2559.183 |
1813.637 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
442.288 |
390.124 |
219.273 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
117.635 |
98.290 |
81.845 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
324.653 |
291.834 |
137.428 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
52.369 |
42.123 |
36.379 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
272.284 |
249.711 |
101.049 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
89.279 |
79.613 |
23.422 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
183.005 |
170.098 |
77.627 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
414.517 |
292.813 |
233.636 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
27.500 |
25.000 |
8.000 |
|
|
|
Dividend |
34.888 |
23.394 |
10.450 |
|
|
|
Capitalized for Bonus Issue |
22.365 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
512.769 |
414.517 |
292.813 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
928.821 |
1032.123 |
1034.097 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
NA |
NA |
977.153 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
49.10 |
114.08 |
52.06 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.62 |
5.77 |
3.81 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.39 |
8.48 |
4.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.74 |
12.25 |
6.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40 |
0.47 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.40 |
1.69 |
2.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18 |
1.15 |
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 |
14.910 |
14.910 |
37.275 |
|
Reserves & Surplus |
374.938 |
521.439 |
647.031 |
|
Net
worth |
389.848 |
536.349 |
684.306 |
|
|
|
|
|
|
long-term borrowings |
129.480 |
138.993 |
105.605 |
|
Short term borrowings |
746.162 |
764.709 |
850.773 |
|
Total
borrowings |
875.642 |
903.702 |
956.378 |
|
Debt/Equity
ratio |
2.246 |
1.685 |
1.398 |
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 |
2027.279 |
2946.619 |
3245.600 |
|
|
|
45.348 |
10.147 |
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 |
2027.279 |
2946.619 |
3245.600 |
|
Profit |
77.627 |
170.098 |
183.005 |
|
|
3.83% |
5.77% |
5.64% |
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 |
Yes |
|
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 |
Yes |
|
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 |
LITIGATION DETAILS
CASE DETAILS
BENCH:-BOMBAY
|
Lodging No.:- |
ITXAL/2190/2013 |
Filing Date:- |
27/12/2013 |
Reg. No.:- |
ITXA/1057/2014 |
Reg. Date:- |
26/06/2014 |
|
|
|
Petitioner:- |
THE COMMISSIONER OF INCOME TAX - II, PUNE |
Respondent:- |
ORIENTAL RUBBER INDUSTRIES LIMITED |
|
|
|
Petn.Adv.:- |
VIPUL ARUN BAJPAYEE (I4135) |
|
|
|
District:- |
MUMBAI |
|
|
|
Bench:- |
DIVISION |
|
|
|
|
|
Status:- |
Pre-Admission |
Category:- |
TAX APPEALS |
|
|
|
Next Date:- |
25/09/2014 |
Stage:- |
FOR REJECTION [ORIGINAL SIDE MATTERS] |
|
|
|
Coram:- |
ACCORDING TO SITTING LIST |
|
|
|
|
ACCORDING TO SITTING LIST |
|
|
|
Last Date:- |
04/04/2014 |
Stage:- |
FOR REJECTION [ORIGINAL SIDE MATTERS] |
|
|
|
Last Coram:- |
REGISTRAR(OS)/PROTHONOTARY & SR.
MASTER |
|
|
|
Act :- |
Income Tax Act, 1961 |
Under Section:- |
260A |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
Deferred payment liabilities |
15.843 |
15.644 |
|
Other loans and advances |
30.712 |
30.805 |
|
|
|
|
|
Total |
46.555 |
46.449 |
OPERATIONS
During the year, the Company’s total income increased by 10% over the previous year. The post-tax profit for the year was Rs.183.000 millions as against Rs.170.100 millions for the previous year. The Company performance must be appreciated in the back-drop of economic and industrial slow down seen universally.
OUTLOOK FOR THE
CURRENT YEAR
In view of the continuing slow down in the global economy, there is an effect being felt even in Indian business environment in the current period. The directors therefore are taking a conservative view in our growth estimates. The Company is aggressively pursuing new business opportunities in addition to servicing the existing clients and they should therefore be in preparedness once the economy turns around.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10447083 |
12/08/2013 |
50,000,000.00 |
FIRSTRAND BANK LIMITED |
TCG FINANCIAL CENTRE PLOT NO C 53 G BLOCK, BANDRA KURLA COMPLEX, MUMBAI, MAHARASHTRA - 400051, INDIA |
B84042084 |
|
2 |
10365078 |
21/06/2012 |
50,000,000.00 |
CORPORATION BANK |
INDUSTRIAL FINANCE BRANCH, 14, PUNE MUMBAI ROAD, |
B43446624 |
|
3 |
10310231 |
15/09/2011 * |
40,000,000.00 |
CORPORATION BANK |
CORPORATE BANKING BRANCH, 14, PUNE MUMBAI ROAD, |
B22971055 |
|
4 |
10234608 |
28/07/2010 |
100,000,000.00 |
FIRST RAND BANK LIMITED |
5TH FLOOR, MISTRY BHAVAN, 122 DINSHAVACHA ROAD, |
A92237056 |
|
5 |
10182396 |
08/09/2009 |
150,000,000.00 |
CORPORATION BANK |
INDUSTRIAL FINANCE BRANCH, 14# PUNE-MUMBAI ROAD, PUNE, MAHARASHTRA - 411003, INDIA |
A72211725 |
|
6 |
10138369 |
12/01/2009 |
100,000,000.00 |
UNION BANK OF INDIA |
619, SACHAPIR STREET, PUNE CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
A54606454 |
|
7 |
10046398 |
10/09/2013 * |
2,093,800,000.00 |
UNION BANK OF INDIA INDUSTRIAL FINANCE BRANCH |
619,SACHAPIR STREET, CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
B86020500 |
|
8 |
10052617 |
29/03/2007 |
280,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH,, SACHIPIR STREET, CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
A15391253 |
|
9 |
80028670 |
28/03/2006 |
93,700,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, 619, SACHAPIR STREET, CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
10 |
80028669 |
18/02/2006 |
482,800,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, 619, SACHAPIR STREET, CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
11 |
90088776 |
17/09/2004 * |
10,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, PUNE CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
12 |
90092533 |
15/02/2005 * |
16,400,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, PUNE CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
13 |
90088636 |
15/02/2005 * |
6,500,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, PUNE CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
14 |
90086438 |
15/02/2005 * |
5,500,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, PUNE CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
15 |
90086292 |
29/03/2007 * |
175,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH,SACHAPEER STREET, CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
A13922950 |
|
16 |
90084986 |
07/12/1999 * |
546,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, PUNE CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
17 |
90087900 |
25/06/1995 |
5,000,000.00 |
UNION BANK OF INDIA |
AGA KHAN PALACE BRANCH, PUNE, MAHARASHTRA - 411006, INDIA |
- |
|
18 |
90084033 |
15/03/2002 * |
7,500,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, PUNE CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
19 |
90083994 |
29/03/2007 * |
100,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, SACHAPEER STREET, CAMP, PUNE, MAHARASHTRA - 411001, INDIA |
- |
|
20 |
90093570 |
15/02/1991 |
8,500,000.00 |
THE STATE INDUSTRIAL AND INVESTMENT CORP. OF MAHARAS |
NIRMAL; 1ST FLOOR, NARIMAN POINT, BOMBAY, MAHARASHTRA - 400021, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
- Freehold Land
- Building
- Plant and Machinery
- Electrical Installation
- Furniture and Fixture
- Computer
- Vehicles
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. 60.92 |
|
|
1 |
Rs. 98.66 |
|
Euro |
1 |
Rs. 78.64 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.