MIRA INFORM REPORT
|
Report Date : |
18.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
HINDUSTHAN NATIONAL GLASS AND
INDUSTRIES LIMITED |
|
|
|
|
Formerly Known
As : |
HINDUSTAN NATIONAL GLASS
MANUFACTURING COMPANY LIMITED |
|
|
|
|
Registered Office
: |
2, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
23.02.1946 |
|
|
|
|
Com. Reg. No.: |
21-013294 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.174.677 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L26109WB1946PLC013294 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALH01957E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH7557G |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
|
|
Line of Business
: |
Manufacturing and Selling of Container Glass. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 30655000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
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|
Comments : |
Subject is a well-established company having satisfactory track
record. The company possesses an acceptable financial profile marked by
adequate networth base along with gradual decline in liquidity profile due to
increased gearing and consecutive losses during FY14. However, trade relations are fair. Business is active. Payment terms
are reported as usually correct. In view of the company being the market leader in the market, it can
be considered for busi8ness 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 |
CARE |
|
Rating |
Long Term Bank Facilities: BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
March, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities: A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
March, 2013 |
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 BY
|
Name : |
Mr. Gangali |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-9903057570 |
|
Date : |
15.09.2014 |
LOCATIONS
|
Registered Office/ Corporate Office : |
2, Red Cross Place, Kolkata – 700 001, West Bengal, India |
|
Tel. No.: |
91-33-22482341/ 42/ 43/ 44/ 22543100 |
|
Fax No.: |
91-33-22482367/ 22543130 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
28000 sq. ft. |
|
Location : |
Leased |
|
|
|
|
Factory 1 : |
Bahadurgarh, District Jhajjar –
124 507, Haryana, India |
|
Tel. No.: |
91-1276-211807/ 802/ 803/ 804/ 805/ 806/ 807/ 808 |
|
Fax No.: |
91-1276-211810/ 214163 |
|
E-Mail : |
|
|
Area : |
45000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
2, Panchu Gopal Bhaduri Sarani, Rishra, District Hooghly – 712 248,
West Bengal, India |
|
Tel. No.: |
91-33-26726801/ 6802/ 6803/ 6804 |
|
Fax No.: |
91-33-26726807 |
|
E-Mail : |
|
|
Area : |
40000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 3 : |
14, RIICO Industrial Area, Neemrana, District Alwar – 301 705,
Rajasthan, India |
|
Tel. No.: |
91-1494-246712/ 513935 |
|
Fax No.: |
91-1494-246713 |
|
|
|
|
Factory 4 : |
P.O. Virbhadra, Rishikesh, District Dehradun – 249 201, Uttarakhand,
India |
|
Tel. No.: |
91-135-2470700 |
|
Fax No.: |
91-135-2470777 |
|
|
|
|
Factory 5 : |
Thonadamantham Village, Vezhudavoor S.O., Puducherry – 605 502, India |
|
Tel. No.: |
91-413-2677319 |
|
Fax No.: |
91-413-2677366 / 2677666 |
|
|
|
|
Factory 6 : |
Nashik Glass Work, F1, MIDC, Malegaon, District, Sinnar,
Nashik-422113, Maharashtra, India |
|
Tel. No.: |
91-25511-228900 |
|
Fax No.: |
91-25511-228999 |
|
|
|
|
Marketing and Sales Offices : |
Located at: ·
Jhajjar ·
Kolkata ·
Bangalore ·
Chennai ·
Mumbai ·
Hyderabad |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Chandra Kumar Somany |
|
Designation : |
Chairman |
|
Address : |
2, Ironside Road, Kolkata - 700 019, West Bengal, India |
|
Date of Birth/Age : |
1933 |
|
Qualification : |
I. Sc., FBIM (London) |
|
Other Directorships : |
·
Glass Equipment (India) Limited ·
Hasow Automation Limited ·
Sportlight Vanijya Limited ·
Topaz Commerce Limited ·
The West Coast Paper Mills Limited ·
Ceramic Colours and Containers Limited ·
R. B. Rodda and Company Limited |
|
|
|
|
Name : |
Mr. Sanjay Somany |
|
Designation : |
Vice Chairman and Managing Director |
|
Address : |
W-22, Greater Kailash, New Delhi – 110 048, India |
|
Date of Birth/Age : |
1958 |
|
Qualification : |
B.Com., Diploma in Diesel Engineering |
|
Other Directorships : |
·
Glass Equipment (India) Limited ·
Hasow Automation Private Limited ·
Sportlight Vanijya Limited ·
Topaz Commerce Limited |
|
|
|
|
Name : |
Mr. Mukul Somany |
|
Designation : |
Vice Chairman and Managing Director |
|
Address : |
2, Ironside Road, Kolkata – 700 019, West Bengal, India |
|
Qualification : |
B. Com. (Hons) |
|
|
|
|
Name : |
Mr. Dipankar Chatterji |
|
Designation : |
Director |
|
Address : |
2/1, Nazar Ali Lane, Kolkata – 700 019, West Bengal, India |
|
Qualification : |
FCA |
|
|
|
|
Name : |
Mr. Kishore Bhimani |
|
Designation : |
Director |
|
Address : |
12/4, Sunny Park Apartments, 6, Sunny Park, Kolkata – 700 029, West
Bengal, India |
|
Qualification : |
B. A. (Hons in Economics) |
|
|
|
|
Name : |
Mr. Ratna Kumar Daga |
|
Designation : |
Director |
|
Address : |
8, South End Park, Kolkata – 700 029, West Bengal, India |
|
Qualification : |
B. Com., BIM Graduate (England). (Hons) |
|
|
|
|
Name : |
Mr. Sujit Bhattacharya |
|
Designation : |
Director |
|
Address : |
52-C, Ballygunge Circular Road, Kolkata – 700 019, West Bengal, India |
|
Qualification : |
FCA |
|
|
|
|
Name : |
Mr. Venkatesan Sridar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Rakesh Kumar Sharma |
|
Designation : |
Executive Director |
KEY EXECUTIVES
|
Name : |
Mr. Ajay Kumar Rai |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. Bimal Kumar Garodia |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2014
|
Category of Shareholder |
Total No. of Shares |
% of Total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
14668285 |
16.79 |
|
|
46455555 |
53.19 |
|
|
61123840 |
69.98 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
61123840 |
69.98 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
70570 |
0.08 |
|
|
6348025 |
7.27 |
|
|
6418595 |
7.35 |
|
|
|
|
|
|
2843463 |
3.26 |
|
|
|
|
|
|
1730810 |
1.98 |
|
|
15204100 |
17.41 |
|
|
17757 |
0.02 |
|
|
17219 |
0.02 |
|
|
538 |
0.00 |
|
|
19796130 |
22.67 |
|
Total Public shareholding (B) |
26214725 |
30.02 |
|
Total (A)+(B) |
87338565 |
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) |
87338565 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of Container Glass. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
v Axis Bank Limited v Bank of Baroda v Cooperative Centrale Raiffeisen - Boerenleenbank B.A. (trading as Rabobank International) v DBS Bank Limited v Export Import Bank of India v General Insurance Corporation of India v HDFC Bank Limited v Life Insurance Corporation of India v Standard Chartered Bank v State Bank of India v Syndicate Bank v The Hongkong and Shanghai Banking Corporation Limited |
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|
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|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Lodha and Company Chartered Accountants |
|
Address : |
14, |
|
Tel. No.: |
91-33-22481111/ 1507 |
|
Fax No.: |
91-33-22482956 |
|
E-Mail : |
|
|
|
|
|
Cost Auditors 1 : |
Shome and Banerjee Cost Accountants |
|
|
|
|
Cost Auditors 2 : |
N. Radhakrishnan and Company Cost Accountants |
|
|
|
|
Subsidiaries : |
v Glass Equipment (India) Limited (GEIL) v HNG Global GmbH (HNGGG) v Quality Minerals Limited (QML) |
|
|
|
|
Associate Company
(Upto June 30, 2013) : |
v HNG Float Glass Limited (HNGFL) |
|
|
|
|
Joint Venture
Company (From July 1, 2013) : |
v HNG Float Glass Limited (HNGFL) |
|
|
|
|
Enterprises over which any person
described in [D (i) to (iv)] above is able to exercise significant influence
and with whom the Company has transactions during the year: |
v AMCL Machinery Limited (AMCL) v Brabourne Commerce Private Limited v Mould Equipment Limited (MEL) v Rungamaee Trexim Private Limited (RTPL) v Somany Foam Limited (SFL) v Spotme Tracon Private Limited (STPL) v Spotlight Vanijya Limited (SVL) |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2557500000 |
Equity Shares |
Rs.2/- each |
Rs.5115.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
87338565 |
Equity Shares |
Rs.2/- each |
Rs.174.677 Millions |
|
|
|
|
|
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 |
174.677 |
174.677 |
174.677 |
|
(b) Reserves & Surplus |
7489.304 |
9683.509 |
11402.497 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
146.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
7663.981 |
10004.186 |
11577.174 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
16827.853 |
17672.476 |
16024.529 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
209.908 |
953.828 |
|
(c) Other long term liabilities |
160.033 |
210.776 |
256.656 |
|
(d) long-term provisions |
65.356 |
77.136 |
72.228 |
|
Total Non-current Liabilities (3) |
17053.242 |
18170.296 |
17307.241 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
5356.497 |
6311.299 |
3854.282 |
|
(b) Trade payables |
3772.903 |
3241.202 |
1428.544 |
|
(c) Other current
liabilities |
5361.101 |
5450.983 |
3215.238 |
|
(d) Short-term provisions |
529.712 |
904.423 |
1047.090 |
|
Total Current Liabilities (4) |
15020.213 |
15907.907 |
9545.154 |
|
|
|
|
|
|
TOTAL |
39737.436 |
44082.389 |
38429.569 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
25040.205 |
26836.236 |
13871.521 |
|
(ii) Intangible Assets |
8.613 |
33.256 |
59.608 |
|
(iii) Capital
work-in-progress |
1457.830 |
1479.574 |
11569.764 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1447.286 |
1808.923 |
1808.973 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
658.732 |
1317.982 |
2305.988 |
|
(e) Other Non-current assets |
13.607 |
13.044 |
13.034 |
|
Total Non-Current Assets |
28626.273 |
31489.015 |
29628.888 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
5166.687 |
4982.164 |
3011.406 |
|
(c) Trade receivables |
3739.434 |
4896.098 |
3430.014 |
|
(d) Cash and cash
equivalents |
291.248 |
379.384 |
105.811 |
|
(e) Short-term loans and
advances |
1743.798 |
2322.813 |
2236.719 |
|
(f) Other current assets |
169.996 |
12.915 |
16.731 |
|
Total Current Assets |
11111.163 |
12593.374 |
8800.681 |
|
|
|
|
|
|
TOTAL |
39737.436 |
44082.389 |
38429.569 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue From Operations |
18143.851 |
18258.335 |
18888.537 |
|
|
|
Other Income |
891.029 |
64.939 |
58.902 |
|
|
|
TOTAL |
19034.880 |
18323.274 |
18947.439 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
5383.226 |
5485.060 |
5111.559 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(163.467) |
(1542.459) |
(609.794) |
|
|
|
Employees benefits expense |
1627.161 |
1626.566 |
1347.729 |
|
|
|
Other expenses |
9544.315 |
11197.249 |
10058.971 |
|
|
|
TOTAL |
16391.235 |
16766.416 |
15908.465 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
2643.645 |
1556.858 |
3038.974 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
2565.226 |
2035.672 |
923.273 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
78.419 |
(478.814) |
2115.701 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
2470.145 |
1983.135 |
1165.230 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(2391.726) |
(2461.949) |
950.471 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(209.908) |
(743.920) |
41.864 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(2181.818) |
(1718.029) |
908.607 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.000 |
1028.657 |
596.143 |
|
|
Add |
TRANSFER FROM
DEBENTURE REDEMPTION RESERVE |
0.000 |
674.022 |
250.000 |
|
|
|
|
|
|
|
|
|
Add |
PROVISION FOR
PROPOSED DIVIDEND |
1.715 |
25.525 |
25.525 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
100.000 |
|
|
|
Proposed Dividend on Equity Shares |
0.000 |
8.734 |
131.008 |
|
|
|
Tax on Dividend |
0.000 |
1.441 |
20.610 |
|
|
|
Transferred to Debenture
Redemption Reserve |
0.000 |
0.000 |
500.000 |
|
|
BALANCE CARRIED
TO THE B/S |
(2180.103) |
0.000 |
1028.657 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
546.478 |
921.736 |
524.323 |
|
|
TOTAL EARNINGS |
546.478 |
921.736 |
524.323 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1638.777 |
1926.603 |
1169.572 |
|
|
|
Components, Spare Parts and Stores etc. |
198.748 |
662.292 |
339.819 |
|
|
|
Capital Goods (including CWIP) |
32.711 |
844.231 |
5454.223 |
|
|
TOTAL IMPORTS |
1870.236 |
3433.126 |
6963.614 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
(24.98) |
(19.67) |
10.40 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
(11.46) |
(9.38) |
4.80 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(13.18) |
(13.48) |
5.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.49) |
(6.04) |
3.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.31) |
(0.25) |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.89 |
2.40 |
1.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.74 |
0.79 |
0.92 |
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 |
174.677 |
174.677 |
174.677 |
|
Reserves & Surplus |
11402.497 |
9683.509 |
7489.304 |
|
Share
Application money pending allotment |
0.000 |
146.000 |
0.000 |
|
Net worth |
11577.174 |
10004.186 |
7663.981 |
|
|
|
|
|
|
long-term borrowings |
16024.529 |
17672.476 |
16827.853 |
|
Short term borrowings |
3854.282 |
6311.299 |
5356.497 |
|
Total borrowings |
19878.811 |
23983.775 |
22184.350 |
|
Debt/Equity ratio |
1.717 |
2.397 |
2.895 |
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) |
|
Revenue From Operations |
18888.537 |
18258.335 |
18143.851 |
|
|
|
(3.336) |
(0.627) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Revenue
From Operations |
18888.537 |
18258.335 |
18143.851 |
|
Profit |
908.607 |
(1718.029) |
(2181.818) |
|
|
4.81% |
(9.41%) |
(12.03%) |
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 |
Yes |
|
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 LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Term Loans |
|
|
|
From Bank |
750.000 |
1000.000 |
|
From Others |
312.500 |
837.500 |
|
|
|
|
|
Deferred Payment Liabilities |
|
|
|
Sales Tax Deferment Loan |
134.278 |
156.443 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
From Bodies corporate |
0.000 |
645.000 |
|
|
|
|
|
Total |
1196.778 |
2638.943 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10487917 |
09/07/2014 * |
1,000,000,000.00 |
SYNDICATE BANK |
LARGE CORPORATE BRANCH, LIC BUILDING,
ILLACO HOUSE, 1, BRABOURNE ROAD, Kolkata, West Bengal - 700001, INDIA |
C14801211 |
|
2 |
10468620 |
09/07/2014 * |
3,000,000,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNTS GROUP BRANCH, 2ND FLOOR,
RELIANCE HOUSE,34 J.L NEHRU ROAD, Kolkata, West Bengal - 700071, INDIA |
C14566731 |
|
3 |
10390942 |
30/11/2012 * |
1,300,000,000.00 |
Cooperatieve Centrale
Raiffeisen-Boerenleenbank B |
32/F, Three Pacific Place, 1 Queen's Road
East, Hong Kong, - 00000, HONG KONG |
B64796543 |
|
4 |
10380957 |
30/11/2012 * |
1,150,000,000.00 |
DBS Bank Ltd. (acting as a security
trustee) |
On behalf of DBS Bank Ltd, Singapore, 4A, Nandalal
Basu Sarani, Kolkatta, West Bengal - 700071, INDIA |
B64345812 |
|
5 |
10355462 |
01/05/2012 |
4,740,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
B39545157 |
|
6 |
10353292 |
23/04/2012 |
1,000,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS FINANCIAL CENTREPLOT NO C22 G
BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI, Maharashtra - 400051,
INDIA |
B38581898 |
|
7 |
10360497 |
21/04/2012 |
1,000,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS FINANCIAL CENTREPLOT NO C22 G
BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI, Maharashtra |
B39632625 |
|
8 |
10344231 |
06/03/2012 |
6,200,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
B35807379 |
|
9 |
10341855 |
20/02/2012 |
1,000,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK
BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI, Maharashtra - 400051, INDIA |
B34879064 |
|
10 |
10339261 |
20/02/2012 * |
2,040,000,000.00 |
DBS Bank Ltd. |
Acting on behalf of DBS Bank Ltd,
Singapore, 4A, |
B34409946 |
|
11 |
10346236 |
11/02/2012 |
1,000,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS FINANCIAL CENTREPLOT NO C22 G
BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI, Maharashtra - 400051,
INDIA |
B33879057 |
|
12 |
10325940 |
30/11/2011 |
655,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
B28923985 |
|
13 |
10323765 |
30/11/2011 |
12,580,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
B28086387 |
|
14 |
10320027 |
11/02/2012 * |
1,000,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
FLOOR-21, CENTRE ONE BUILDING, WORLD TRADE CENTRE,
CUFF PARADE, MUMBAI, Maharashtra - 400005, INDIA |
B33852377 |
|
15 |
10318823 |
09/07/2014 * |
1,000,000,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNTS GROUP BRANCH, 2ND FLOOR,
RELIANCE HOUSE,34 J.L .NEHRU ROAD, KOLKATA, West Bengal - 700071, INDIA |
C14689699 |
|
16 |
10318827 |
09/07/2014 * |
1,500,000,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNTS GROUP BRANCH , 2ND FLOOR
RELIANCE HOUSE,34 J.L .NEHRU ROAD, KOLKATA, West Bengal - 700071, INDIA |
C14691778 |
|
17 |
10316338 |
11/02/2012 * |
1,500,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
B34414417 |
|
18 |
10315288 |
27/09/2011 |
18,780,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
B24388738 |
|
19 |
10315289 |
27/09/2011 |
1,540,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
B24388860 |
|
20 |
10310227 |
11/02/2012 * |
1,240,000,000.00 |
The Hongkong and Shanghai Banking
Corporation Limited |
Hongkong House, 31 B BD Bag, Kolkata, West Bengal
- 700001, INDIA |
B34258244 |
|
21 |
10296370 |
11/02/2012 * |
1,000,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
FLOOR-21, CENTRE ONE BUILDING, WORLD TRADE
CENTRE, CUFF PARADE, MUMBAI, Maharashtra - 400005, INDIA |
B36509768 |
|
22 |
10292764 |
11/05/2011 |
9,090,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
B15205487 |
|
23 |
10289050 |
09/07/2014 * |
4,500,000,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNTS GROUP BRANCH ,2ND FLOOR,
RELIANCE HOUSE,34 J.L .NEHRU ROAD, KOLKATA, West Bengal - 700071, INDIA |
C14687305 |
|
24 |
10282249 |
11/02/2012 * |
400,000,000.00 |
The Hongkong and Shanghai Banking
Corporation Limited |
Hongkong House, 31 B B D Bag, Kolkata, West
Bengal - 700001, INDIA |
B34237198 |
|
25 |
10283412 |
09/07/2014 * |
1,000,000,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNTS GROUP BRANCH, RELIANCE
HOUSE, 2ND FLOOR,34 JAWAHARLAL NEHRU ROAD, KOLKATA, West Bengal -
700071, INDIA |
C14692990 |
|
26 |
10270242 |
02/02/2011 |
4,188,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
B07609365 |
|
27 |
10261637 |
17/12/2010 |
24,700,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
B03993243 |
|
28 |
10261639 |
17/12/2010 |
12,350,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL
W, MUMBAI, Maharashtra - 400013, INDIA |
B03994050 |
|
29 |
10256435 |
07/12/2010 |
10,860,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
B02212975 |
|
30 |
10231937 |
30/06/2010 |
5,220,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A91159871 |
|
31 |
10231938 |
30/06/2010 |
3,960,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL
W, MUMBAI, Maharashtra - 400013, INDIA |
A91160747 |
|
32 |
10227151 |
05/06/2010 |
1,305,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A89004261 |
|
33 |
10227153 |
31/05/2010 |
2,610,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A89007595 |
|
34 |
10205430 |
11/02/2012 * |
350,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH (CBB), 1, SHAKESPEARE
SARANI, AC MARKET, 3RD FLOOR, KOLKATA, West Bengal - 700071, INDIA |
B33984691 |
|
35 |
10209190 |
15/02/2010 |
12,870,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A82213810 |
|
36 |
10199019 |
11/02/2012 * |
500,000,000.00 |
The Hongkong and Shanghai Banking
Corporation Limi |
Hongkong House, 31 B B D Bag, Kolkata, West
Bengal - 700001, INDIA |
B34321513 |
|
37 |
10194120 |
19/11/2009 |
1,240,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013,
INDIA |
A76543156 |
|
38 |
10185029 |
03/10/2009 |
1,053,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A73054330 |
|
39 |
10185083 |
03/10/2009 |
1,053,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A73055352 |
|
40 |
10184618 |
20/09/2009 |
1,810,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A72638349 |
|
41 |
10180988 |
20/09/2009 |
1,810,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A71525042 |
|
42 |
10182839 |
20/09/2009 |
1,810,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A72108558 |
|
43 |
10176173 |
17/09/2009 * |
250,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS FINANCIAL CENTREPLOT NO C22 G
BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI, Maharashtra |
A70747001 |
|
44 |
10177607 |
14/09/2009 |
6,150,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A70324694 |
|
45 |
10177598 |
25/08/2009 |
1,230,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A70323456 |
|
46 |
10177599 |
25/08/2009 |
1,230,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A70323654 |
|
47 |
10177600 |
25/08/2009 |
1,230,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A70323977 |
|
48 |
10177601 |
25/08/2009 |
1,230,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A70324215 |
|
49 |
10177602 |
25/08/2009 |
1,230,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A70324470 |
|
50 |
10166298 |
01/07/2009 |
1,220,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A65500233 |
|
51 |
10166299 |
01/07/2009 |
1,220,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A65500340 |
|
52 |
10166301 |
01/07/2009 |
1,220,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A65500092 |
|
53 |
10166302 |
01/07/2009 |
1,220,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A65500431 |
|
54 |
10166304 |
01/07/2009 |
1,220,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A65500613 |
|
55 |
10162810 |
09/07/2014 * |
10,300,000,000.00 |
STATE BANK OF INDIA(Acting for itself and
for othe |
CORPORATE ACCOUNTS GROUP BRANCH ,2ND FLOOR,
RELIA |
C14565493 |
|
56 |
10161773 |
20/05/2009 |
1,225,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A63138127 |
|
57 |
10164862 |
20/05/2009 |
1,225,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A64914823 |
|
58 |
10164863 |
20/05/2009 |
1,225,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL
W, MUMBAI, Maharashtra - 400013, INDIA |
A64915051 |
|
59 |
10164867 |
20/05/2009 |
1,225,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A64915317 |
|
60 |
10164869 |
20/05/2009 |
1,225,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A64915523 |
* Date of charge modification
REVIEW
In this challenging economic environment, the Company has reported total
income of Rs 190,349 Lakhs in F.Y. 2013-14 compared to Rs 183,233 Lakhs in F.Y.
2012-13. The Company recorded an EBITDA of Rs 26,436 Lakhs and a net loss of Rs
21,818 Lakhs during the year under review. Due to increase in price of major
raw materials the performance of the Company is severely affected. During the
financial year the Company has implemented cost optimisation initiatives which
helped in containing inflationary impact to some extent. Over the past few
years, the glass industry witnessed capacity addition which substantially
increased the demand and supply gap and consequently lowered capacity
utilisation. They expect demand to increase which will lead to recovery of
Glass Industry.
During the current financial year the Company has once again given major
thrust on implementation of various cost saving measures. Some of the main
initiatives initiated during the financial year 2013-14 are as follows:
i. Development of alternate source and vendors for procurement of raw
materials;
ii. Optimising Raw Material and Power and Fuel Cost;
iii. Increasing usage of cullet;
iv. Waste reduction;
v. Enforce quality checks
OUTLOOK
The Indian economy is expected to grow at 5% during the financial year 2014-15. Indian glass market is estimated to increase driven primarily by growth in end user market like Liquor, Beer and Food and Beverage segment. The Liquor and Beer market which has seen the entry of major MNC players like Diageo, Carlsberg, Mools and Cobra, etc. is expected to grow at double digit rate due to favorable demographic and high disposable income.
Though, the glass industry is facing competition from alternative mediums, but with the key properties such as inertness, transparency, recyclability, glass will be a dominant packaging medium for Liquor and Beverage segment. The use of glass is of critical importance in the present day when deteriorating environmental conditions have set alarm bells ringing for protection of environment in the interest of human health and well-being. There is an need for preservation and improvement of environment. Increase in use of glass will go a long way in surging ahead towards achieving this objective.
Growth drivers for
Glass Industry:
• Increasing population and low per capita consumption of glass
• Rising consumer awareness for Health
• Inertness
• Favourable demography and rising disposable income
• Growth in Packaging Industry Challenges faced by the Glass Industry :
• Increasing prices of the raw material
• High Power and Fuel Cost
FIXED ASSETS
œ Freehold Land
œ Leasehold Land
œ Buildings
œ Leasehold Buildings
œ Plant and Equipments
œ Furniture and Fixtures
œ Vehicles
œ Office Equipments
œ Computer Soware
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 records 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.60.95 |
|
|
1 |
Rs.99.32 |
|
Euro |
1 |
Rs.78.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.