MIRA
INFORM REPORT
|
Report Date : |
27.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHALINA LABORATORIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
96, Maker Chamber VI, Nariman Point, Mumbai – 400 021, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
13.12.1984 |
|
|
|
|
Com. Reg. No.: |
11-034786 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 61.977 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239MH1984PTC034786 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS37632A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCC1423M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Pharmaceutical Formulations and Chemicals. |
|
|
|
|
No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4800000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of deterioration in the
performance of the company which has resulted in dip in sales turnover of the
company during financial year 2013. However, trade relations are far. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing 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
Verdict Implications:
Apex court order may alter coal import dynamics. Traders go slow on talks over
coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains revenue
guidance. COO Rao says attrition still an area of concern and it would take a
few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “B” |
|
Rating Explanation |
Risk prone credit quality and very high credit risk. |
|
Date |
05.03.2014 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A4” |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
05.03.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Sushil Agarwal |
|
Designation : |
Vice President |
|
Contact No.: |
91-9167233484 |
|
Date : |
25.09.2014 |
LOCATIONS
|
Registered Office : |
96, Maker Chamber VI, Nariman Point, Mumbai – 400 021, Maharashtra,
India |
|
Tel. No.: |
91-22-2281 5577 / 2287 5058 / 1727 / 1827 / 1828 |
|
Mobile No.: |
91-9167233484 (Mr. Sushil Agarwal) |
|
Fax No.: |
91-22-2287 5390 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Plot No. E2, EOU Unit 96, MIDC Jejuri Industrial Area, Taluka Puranda
Jejure, Pune – 412303, Maharashtra, India |
|
|
|
|
Factory 2 : |
C/48/3, TTC Industrial Area, Near Galaxy Research Centre,
Pawnel, Navi Mumbai 400 705, |
|
Tel. No.: |
91-22-2763 5222 |
|
Fax No.: |
91-22-2763 5226 |
DIRECTORS
As on: 30.09.2013
|
Name : |
Ms. Neelam Virji |
|
Designation : |
Additional
Director |
|
Address : |
|
|
Date of Birth/Age : |
27.02.1952 |
|
Date of Appointment : |
30.05.2006 |
|
DIN No.: |
00309142 |
|
|
|
|
Name : |
Mr. Sundar Sankaran |
|
Designation : |
Director |
|
Address : |
11D/22, Mahindra Park, Narayan Nagar, LBS Road, Ghatkopar (West), Mumbai, 400086, Maharashtra, India |
|
Date of Birth/Age : |
23.05.1965 |
|
Date of Appointment : |
12.03.2011 |
|
DIN No.: |
01098634 |
|
|
|
|
Name : |
Mr. Kanwal Kishore |
|
Designation : |
Managing Director |
|
Address : |
6-C, Supriya Apartments, A-4, Paschim Vihar, New Delhi – 110063, India |
|
Date of Birth/Age : |
22.09.1964 |
|
Date of Appointment : |
13.09.2011 |
|
PAN No.: |
AAEPK8676L |
|
DIN No.: |
03637882 |
KEY EXECUTIVES
|
Name : |
Mr. Sushil Kumar Agarwal |
|
Designation : |
Secretary |
|
Address : |
A-301, Harmony Siddheshwar Gardens Kolshet Road, Near Dhokali, Chitalsar Manpada, Thane, 400607, Maharashtra, India |
|
Date of Birth/Age : |
29.08.1970 |
|
Date of Appointment : |
01.04.2013 |
|
PAN No.: |
ACXPA5624K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Neelam S. Virji |
|
6197680 |
|
Neelam S. Virji J/W Sundar Sankaran |
|
1 |
|
Neelam S. Virji J/W Taizoon M. Khumri |
|
15 |
|
|
|
|
|
Total |
|
6197696 |
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 Pharmaceutical Formulations and Chemicals. |
|
|
|
|
Exports : |
|
|
Products : |
· Finished goods |
|
Countries : |
· African Countries |
|
|
|
|
Imports : |
|
|
Products : |
· Raw Material |
|
Countries : |
· China |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Supplier: |
Not Divulged |
|||||||||||||||
|
|
|
|||||||||||||||
|
Customers : |
Not Divulged |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
600 (Approximately) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
· State Bank of India, Overseas Branch, World Trade Centre, Cuffe Parade, Mumbai - 400005, Maharashtra, India · Bank of India, Mahalaxmi Branch, 8-A, Bhuabhai Desai Road, Mumbai - 400026, Maharashtra, India ·
ICICI Bank Limited, Landmarkrace Cource
Circle, Alkapuri, Baroda - 390015, Gujarat, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jagtiani and Naik Chartered Accountants |
|
Address : |
12-13, Esplanade, 3rd Floor, 3 Amrit Keshav,
Nayak Marg, Fort Mumbai – 400001, Maharashtra, India |
|
PAN No.: |
AAMPJ3030F |
|
|
|
|
Associates : |
Shalina Trading Company Private Limited |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8400000 |
Equity Shares |
Rs.10/- each |
Rs. 84.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6197696 |
Equity Shares |
Rs.10/- each |
Rs. 61.977
Millions |
|
|
|
|
|
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6200000 |
Equity Shares |
Rs.10/- each |
Rs. 62.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6197696 |
Equity Shares |
Rs.10/- each |
Rs. 61.977
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 |
61.977 |
61.977 |
61.977 |
|
(b) Reserves & Surplus |
1142.705 |
958.813 |
793.181 |
|
(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) |
1204.682 |
1020.790 |
855.158 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
43.651 |
46.329 |
32.440 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
43.651 |
46.329 |
32.440 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
242.668 |
507.253 |
333.807 |
|
(b)
Trade payables |
390.231 |
538.090 |
309.999 |
|
(c) Other
current liabilities |
28.442 |
60.677 |
121.831 |
|
(d) Short-term
provisions |
15.684 |
30.517 |
7.624 |
|
Total Current
Liabilities (4) |
677.025 |
1136.537 |
773.261 |
|
|
|
|
|
|
TOTAL |
1925.358 |
2203.656 |
1660.859 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
192.568 |
197.004 |
153.840 |
|
(ii)
Intangible Assets |
13.720 |
14.729 |
1.229 |
|
(iii)
Capital work-in-progress |
1.367 |
9.955 |
4.651 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
49.992 |
92.804 |
45.284 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.615 |
|
Total Non-Current
Assets |
257.647 |
314.492 |
205.619 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
295.120 |
417.010 |
354.447 |
|
(c)
Trade receivables |
1015.287 |
1208.861 |
750.117 |
|
(d) Cash
and cash equivalents |
49.947 |
47.665 |
88.364 |
|
(e)
Short-term loans and advances |
65.185 |
68.162 |
43.073 |
|
(f)
Other current assets |
242.172 |
147.466 |
219.239 |
|
Total Current
Assets |
1667.711 |
1889.164 |
1455.240 |
|
|
|
|
|
|
TOTAL |
1925.358 |
2203.656 |
1660.859 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2719.600 |
2968.400 |
2319.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
2410.400 |
2693.800 |
2126.600 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
309.200 |
274.600 |
192.600 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
33.200 |
25.000 |
26.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
276.000 |
249.600 |
166.300 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
92.300 |
83.900 |
54.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
183.700 |
165.700 |
111.600 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
893.100 |
727.500 |
615.700 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Excess / (Short) Provision for Taxation |
(0.200) |
0.100 |
(0.200) |
|
|
BALANCE CARRIED
TO THE B/S |
1077.000 |
893.100 |
727.500 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
2503.500 |
2761.700 |
2163.500 |
|
|
|
Freight |
5.700 |
7.800 |
10.000 |
|
|
|
Difference in Exchange |
55.900 |
79.900 |
40.900 |
|
|
TOTAL EARNINGS |
2565.100 |
2849.400 |
2214.400 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
278.700 |
262.200 |
215.400 |
|
|
|
Packing Materials |
0.000 |
1.300 |
9.500 |
|
|
|
Engineering Items |
0.700 |
0.900 |
0.100 |
|
|
TOTAL IMPORTS |
279.400 |
264.400 |
225.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
29.65 |
26.73 |
NA |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
2750.000 |
|
|
|
|
|
Expected Sales (2014-2015): Rs. 3000.000 Millions
The above information has been parted by Mr. Sushil Agarwal
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
6.75 |
5.58 |
4.81 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.35 |
11.38 |
10.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.24 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.20 |
0.50 |
0.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.46 |
1.66 |
1.88 |
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 |
61.977 |
61.977 |
61.977 |
|
Reserves & Surplus |
793.181 |
958.813 |
1142.705 |
|
Net worth |
855.158 |
1020.790 |
1204.682 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
333.807 |
507.253 |
242.668 |
|
Total borrowings |
333.807 |
507.253 |
242.668 |
|
Debt/Equity ratio |
0.390 |
0.497 |
0.201 |
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) |
|
Total Income |
2319.200 |
2968.400 |
2719.600 |
|
|
|
27.992 |
(8.382) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Total Income |
2319.200 |
2968.400 |
2719.600 |
|
Profit |
111.600 |
165.700 |
183.700 |
|
|
4.81% |
5.58% |
6.75% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last four years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
SHORT TERM
BORROWINGS |
|
|
|
Rupee term loans from banks |
0.000 |
50.000 |
|
|
|
|
|
Total |
0.000 |
50.000 |
LITIGATION DETAILS:
HIGH
COURT OF BOMBAY
|
Bench:- Bombay |
|||||||
|
Lodging No:- |
LPETNL/256/2011 |
Filing Date:- |
08/04/2011 |
Reg. No.:- |
LPETN/256/2011 |
Reg. Date:- |
08/04/2011 |
|
Main Matter |
|||||||
|
Lodging No:- |
SL/775/2011 |
Reg. No.:- |
S/904/2011 |
||||
|
|
|||||||
|
Petitioner:- |
ARISO PHARMACEUTICALS PRIVATE LIMITED |
Respondent:- |
SHALINA LABORATORIES PRIVATE LIMITED |
||||
|
Petn. Adv.: |
ASIAN PATENT AND LAW (0) |
|
|
||||
|
District:- |
MUMBAI |
||||||
|
|
|||||||
|
Bench:- |
SINGLE |
||||||
|
Status:- |
Pre-Admission |
Category:- |
LEAVE PETITION UNDER CLAUSE XIV |
||||
BUSINESS PERFORMANCE
The Company achieved Gross Sales of Rs.271.96 millions during the current year as compared to Rs.296.84 millions achieved during previous year representing a decline of 8.4% from the previous year’s turnover. This was due to lower orders received from its overseas customers.
The Company’s profit before tax was Rs.27.60 millions as compared to Rs.24.95 millions during the previous year and the profit after tax was Rs 18.39 millions as compared to Rs.16.56 millions during the previous year. Both PBT and PAT have increased as compared to last year due to rupee appreciation and better margin due to various cost savings initiatives undertaken by the Company.
INDEX OF CHARGES
|
S.No |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10095043 |
05/02/2008 |
180,000,000.00 |
BANK OF INDIA |
MAHALAXMI BRANCH, 8-A, BHUABHAI DESAI ROAD, MUMBAI, MAHARASHTRA - 400026, INDIA |
A35313915 |
|
2 |
90213884 |
17/09/2002 |
18,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH; WORLD TRADE CENTRE, CUFFE PARADE, BOMBAY, MAHARASHTRA - 400005, INDIA |
- |
|
3 |
90236184 |
17/09/2002 |
18,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, WORLD TRADE CENTER; CUFFE PARADE, MUMBAI, MAHARASHTRA, INDIA |
- |
|
4 |
90243579 |
28/07/2004 * |
18,000,000.00 |
SBI BANK |
OVERSEAS BR.; WORLD TRADE CENTRE CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
- |
|
5 |
90212954 |
20/08/2010 * |
660,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A96152111 |
|
6 |
90235764 |
20/05/2002 * |
29,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, WORLD TRADE CENTER; CUFFE PARADE, MUMBAI, MAHARASHTRA, INDIA |
- |
|
7 |
90243306 |
28/07/2004 * |
29,000,000.00 |
SBI BANK |
OVERSEAS BR.; WORLD TRADE CENTRE CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
- |
|
8 |
90243965 |
09/09/1997 * |
29,000,000.00 |
SBI BANK |
OVERSEAS BR WORLD TRADE CENTRE CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
- |
* Date of charge modification
FIXED ASSETS:-
·
· Residential Flat,
· Plant and Machinery,
· Plant and Machinery (fabrication),
· Electrical Installation,
· Moulds and dies, Computers,
· Office Equipments,
· Furniture and Fixtures and
·
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. 61.57 |
|
|
1 |
Rs. 100.42 |
|
Euro |
1 |
Rs. 78.45 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
36 |
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.