MIRA INFORM REPORT
|
Report No. : |
314211 |
|
Report Date : |
01.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
BAID INDUSTRIES
PRIVATE LIMITED (w.e.f 05.11.2009) |
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|
|
|
Formerly known
as: |
BAID EXPORT PRIVATE LIMITED |
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Registered
Office : |
102, Airlon House, 2/4569, Main Road, Sagrampura, Surat – 395002,
Gujarat |
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
16.05.2007 |
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|
|
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Com. Reg. No.: |
04-050851 |
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|
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Capital Investment
/ Paid-up Capital : |
Rs.33.919 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17100GJ2007PTC050851 |
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|
|
IEC No.: |
Not Available |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTB02136B |
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|
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PAN No.: [Permanent Account No.] |
AADCB1211P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of doubling twisted embroidery yarn, ribbon, narrow
fabrics, lace etc. |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (16) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow and delayed |
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|
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of company’s weak financial risk
profile and delay in servicing its team debt due to weak liquidity profile. Business is active. Payments are reported to be slow and delayed. The company can be considered for business dealings on safe and
secured 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating D |
|
Rating Explanation |
Lowest-credit-quality and very low prospects
of recovery. |
|
Date |
20 May 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating D |
|
Rating Explanation |
Instruments with this rating are in default
or expected to be in default on maturity. |
|
Date |
20 May 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED
Management non co-operative
LOCATIONS
|
Registered Office : |
102, Airlon House, 2/4569, Main Road, Sagrampura, Surat – 395002,
Gujarat, India |
|
Tel. No.: |
91-261-2330744/3206793 |
|
Fax No.: |
91-261-2349718 |
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E-Mail : |
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Website : |
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Factory 1 : |
Plot No. 8, Opp. Sun Pharma, Gidc, Panoli, Bharuch - 394116,
Ankleshwar, India, Gujarat, India |
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Tel. No.: |
91-7567348484 |
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Fax No.: |
Not Available |
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E-Mail : |
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Factory 2 : |
Plot No. 7102, Road No.7, G.I.D.C, Sachin, Dist.Surat, Gujarat, India |
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Tel. No.: |
91-261-2330744 |
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E-Mail : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Ashokkumar Gulab Chand Baid |
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Designation : |
Director |
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|
Address : |
2/4581-82, IInd Floor, Sagrpura Main road, Surat – 395002, Gujarat,
India |
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Date of Birth/Age : |
08.09.1968 |
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Date of Appointment : |
16.05.2007 |
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DIN No.: |
00210941 |
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Voter ID No.: |
ACTPA0947P |
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Other Directorship :
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Name : |
Mr. Hemant Kumar Gulab Chand Baid |
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Designation : |
Director |
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Address : |
2/4582-4581, 2nd Floor, Kamal Kunj, Sgarampura, Surat –
395002, Gujarat, India |
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Date of Birth/Age : |
22.09.1973 |
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Date of Appointment : |
16.05.2007 |
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DIN No.: |
00304936 |
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Voter ID No.: |
AEYPB103R |
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Other Directorship :
|
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KEY EXECUTIVES
|
Name : |
Mr. Dhiren R. Dave |
|
Designation : |
Company Secretary |
|
Address : |
D-412 International Trade Centre, Majura Gate, Ring Road, Surat – 395002,
Gujarat, India |
|
Tel No.: |
91-261-2475122 |
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Mobile No.: |
91-9824115061 |
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Website : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Ashokkumar Gulab Chand Baid |
|
421692 |
|
Hemant Kumar Gulab Chand Baid |
|
414365 |
|
Ashokkumar Gulabchand Baid (Huf) |
|
113711 |
|
Hemantkumar Gulabchand Baid (Huf) |
|
111711 |
|
Gulabchand C. Baid |
|
95122 |
|
Gulabchand C. Baid (Huf) |
|
145644 |
|
Manishadevi Baid |
|
135644 |
|
Reshamdevi Baid |
|
67155 |
|
Sangeetadevi Baid |
|
70444 |
|
Soft Touch Fabrics Private Limited |
|
732222 |
|
Baid Narrow Fab Private Limited |
|
1077000 |
|
Sarwankumar Barjatya |
|
20 |
|
Sushiladevi Barjatya |
|
20 |
|
S. K. Barjatya (Huf) |
|
20 |
|
V. K. Barjatya (Huf) |
|
20 |
|
Anupama Jain |
|
20 |
|
Atmaram Khaitan (Huf) |
|
20 |
|
Priti Jain |
|
20 |
|
Punit Ashok Baid |
|
1600 |
|
Dhiraj Hemant Baid |
|
1900 |
|
Rishab Ashok Baid |
|
1500 |
|
Dhruv Ashok Baid |
|
400 |
|
Gunjan Hemant Baid |
|
1600 |
|
Dilip Narsibhai Lad |
|
10 |
|
Bipinchandra Pragji Chauhan |
|
10 |
|
Narendraprasad Bhikabhai Chauhan |
|
10 |
|
Chhaganlal Damji Virji Daudia |
|
10 |
|
Total |
|
3391890 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
53.00 |
|
Directors or relatives of Directors |
36.00 |
|
Other top fifty shareholders |
11.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of doubling twisted embroidery yarn, ribbon, narrow
fabrics, lace etc. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
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Countries : |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
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Auditors : |
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|
Name : |
M M S and Associates Chartered Accountants |
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Address : |
1003, Rathi Palace, Ring Road, Surat – 395002, Gujarat, India |
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PAN No.: |
AAJFS8470M |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries : |
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CAPITAL STRUCTURE
As on : 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500000 |
Equity Shares |
Rs.10/- each |
Rs.35.000 Million |
|
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|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3391890 |
Equity Shares |
Rs.10/- each |
Rs.33.919
Million |
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|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
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I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
33.919 |
21.099 |
11.113 |
|
(b) Reserves & Surplus |
101.290 |
74.673 |
39.135 |
|
(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) |
135.209 |
95.772 |
50.248 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
281.216 |
257.859 |
155.833 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
281.216 |
257.859 |
155.833 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
68.503 |
25.311 |
9.874 |
|
(b) Trade payables |
30.424 |
33.145 |
8.500 |
|
(c) Other current liabilities |
43.831 |
53.624 |
22.044 |
|
(d) Short-term provisions |
0.006 |
0.020 |
0.016 |
|
Total
Current Liabilities (4) |
142.764 |
112.100 |
40.434 |
|
|
|
|
|
|
TOTAL |
559.189 |
465.731 |
246.515 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
198.143 |
205.367 |
210.767 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
220.117 |
180.666 |
0.857 |
|
(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 |
2.115 |
|
(d) Long-term Loan and Advances |
22.858 |
12.056 |
4.729 |
|
(e) Other Non-current assets |
1.748 |
1.747 |
0.000 |
|
Total
Non-Current Assets |
442.866 |
399.836 |
218.468 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
30.575 |
32.783 |
11.084 |
|
(c) Trade receivables |
39.836 |
17.211 |
9.398 |
|
(d) Cash and cash equivalents |
4.644 |
2.220 |
5.074 |
|
(e) Short-term loans and
advances |
41.268 |
13.681 |
2.491 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
116.323 |
65.895 |
28.047 |
|
|
|
|
|
|
TOTAL |
559.189 |
465.731 |
246.515 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
Sales
/ Other Income |
243.306 |
118.147 |
35.141 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
(B) |
254.335 |
110.009 |
39.504 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(11.029) |
8.138 |
(4.363) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
7.224 |
7.182 |
1.979 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(18.253) |
0.956 |
(6.342) |
|
|
|
|
|
|
|
Less |
TAX
(I) |
0.000 |
0.367 |
(2.266) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
(18.253) |
0.589 |
(4.076) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
(4.330) |
(4.919) |
(0.842) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
(22.583) |
(4.330) |
(4.918) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.000 |
3.249 |
13.435 |
|
|
Freight |
0.000 |
0.000 |
0.070 |
|
|
Insurance |
0.000 |
0.098 |
0.278 |
|
|
TOTAL
EARNINGS |
0.000 |
3.347 |
13.783 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(5.38) |
0.17 |
(1.20) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin (PAT/Sales) |
(%) |
(7.50) |
0.50 |
(11.60) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(5.38) |
0.34 |
(2.60) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.13) |
0.01 |
(0.13) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.59 |
2.96 |
3.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.81 |
0.59 |
0.69 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
11.113 |
21.099 |
33.919 |
|
Reserves & Surplus |
39.135 |
74.673 |
101.290 |
|
Net
worth |
50.248 |
95.772 |
135.209 |
|
|
|
|
|
|
long-term borrowings |
155.833 |
257.859 |
281.216 |
|
Short term borrowings |
9.874 |
25.311 |
68.503 |
|
Total
borrowings |
165.707 |
283.170 |
349.719 |
|
Debt/Equity
ratio |
3.298 |
2.957 |
2.587 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales / Other Income |
35.141 |
118.147 |
243.306 |
|
|
|
236.208 |
105.935 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
35.141 |
118.147 |
243.306 |
|
Profit |
(4.076) |
0.589 |
(18.253) |
|
|
(11.60%) |
0.50% |
(7.50%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
---------------------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Long Term
Borrowing |
|
|
|
Loans and Advances from Related parties |
25.157 |
40.028 |
|
Other Loans and Advances |
75.250 |
35.319 |
|
|
|
|
|
Short Term
Borrowing |
|
|
|
Loans and Advances from Related parties |
0.000 |
0.460 |
|
Other Loans and Advances |
18.116 |
3.204 |
|
Total |
118.523 |
79.011 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10483155 |
20/02/2014 |
433,500,000.00 |
STATE BANK OF INDIA (LEAD BANK) & 1 OTHER |
MID CORPORATE BRANCH,, TRADE HOUSE,OPP.MANDARAWAJ |
B98702863 |
|
2 |
10296252 |
03/06/2014 * |
433,500,000.00 |
STATE BANK OF INDIA & 1 OTHER |
MID CORPORATE BRANCH,, TRADE HOUSE,OPP.MANDARAWAJ |
C07987852 |
|
3 |
10290330 |
25/04/2011 |
389,800,000.00 |
STATE BANK OF INDIA |
MID CORPORATE BRANCH,, TRADE HOUSE,OPP.MANDARAWAJ |
B14324719 |
FIXED ASSETS
- Factory Land
- Factory
Building
- Plant and
Machinery
- Electric
Installation
- Furniture
- Weighing
Scale
- D.G Set
- Computer
- Telephone
- Vehicle
- Fire
Equipment
- Lab Equipment
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.62.60 |
|
|
1 |
Rs.92.95 |
|
Euro |
1 |
Rs.68.14 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
16 |
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.