MIRA INFORM REPORT
|
Report No. : |
316199 |
|
Report Date : |
07.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
GAJRA
DIFFERENTIAL GEARS LIMITED (w.e.f. 14.09.2010) |
|
|
|
|
Formerly Known
As : |
GAJRA
DIFFERENTIAL GEARS PRIVATE LIMITED |
|
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|
|
Registered
Office : |
Elve Chambers, Ground
Floor, Green Street, Fort, Mumbai – 400 023, Maharashtra |
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Country : |
India |
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|
Financials (as
on) : |
31.03.2014 |
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|
Date of
Incorporation : |
08.03.1991 |
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|
Com. Reg. No.: |
11-060687 |
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Capital
Investment / Paid-up Capital : |
Rs.69.962 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29130MH1991PLC060687 |
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|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BPLG00237G |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACG1586C |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
Line of Business
: |
Subject is engaged in manufacturing a wide range of crown wheel, pinions and spider kit assemblies. |
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No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (15) |
|
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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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established
company having moderate track record. The company is
continuously incurring losses from its operational activities which has
resulted into accumulated losses incurred by the company during FY 2014. The rating also
takes the delays by the company in servicing its debt obligations. However, business
is active. Payment terms are reported to be slow. The company can
be considered for business dealings on a 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating: D |
|
Rating Explanation |
Lowest credit quality and very prospects of recovery. |
|
Date |
03.03.2014 |
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 DECLINED
Management non-cooperative
(Tel. No.: 91-22-22662088/ 91-7272-42111)
LOCATIONS
|
Registered Office : |
Elve Chambers, Ground
Floor, Green Street, Fort, Mumbai – 400 023, Maharashtra, India |
|
Tel. No. : |
91-22-22662068/ 22662088/ 22661698/ 22663527/ 22663020 |
|
Fax No. : |
91-22-22662742 |
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E-Mail : |
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Website : |
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|
Factory : |
Lohar
Pipliya, Near Kshipra, A.B. Road, Dewas – 455 001, Madhya Pradesh, India |
|
Tel. No.: |
91-7272-264151/
264152/ 264153/ 264154 |
|
Fax No.: |
91-7272-264574 |
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E-Mail : |
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Sales Network : |
Located at: NORTH ZONE ·
New Delhi ·
Jalandhar ·
Kanpur ·
Nainital ·
Rohtak ·
Jaipur ·
Ghaziabad EAST ZONE ·
Guwahati ·
Kolkata ·
Ranchi ·
Cuttack ·
Patna WEST ZONE ·
Ahmedabad ·
Mumbai ·
Bhiwandi ·
Raipur SOUTH ZONE ·
Bangalore ·
Kochi ·
Chennai ·
Vijayawada |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Raj Damodar Kirtani |
|
Designation : |
Managing
Director |
|
Address : |
T-101,
Friend’s Houses, Kanadia – Ring Road Corner, Indore – 452 016, Madhya
Pradesh, India |
|
Date of Birth/Age : |
28.09.1952 |
|
Qualification : |
LLB, LLM, ICWA |
|
Date of Appointment : |
01.04.2005 |
|
DIN No.: |
00467197 |
|
Election Commission Identity Card No.: |
MP/37/274/327133 |
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PAN No.: |
ANZPK3380K |
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|
|
Name : |
Mrs. Rita Ramesh Gajra |
|
Designation : |
Whole-time Director |
|
Address : |
16/20, Gajra House, Sewree Wadala South Estate, Wadala, Mumbai – 400
031, Maharashtra, India |
|
Date of Birth/Age : |
21.06.1950 |
|
Qualification : |
BA |
|
Date of Appointment : |
27.11.1996 |
|
DIN No.: |
00826318 |
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PAN No.: |
ABIPG3166G |
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|
|
|
Name : |
Mr. Mahendra Kumar Shah |
|
Designation : |
Director |
|
Address : |
‘Apporva’, 8/1, South Tukoganj, Behind Nath Mandir, Indore – 452 001,
Madhya Pradesh, India |
|
Date of Birth/Age : |
20.08.1944 |
|
Qualification : |
MBA, B.E. (Hons.) |
|
Date of Appointment : |
08.03.1991 |
|
DIN No.: |
00467229 |
|
Election Commission Identity Card No.: |
MP/37/274/183058 |
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|
|
|
Name : |
Mr. Chandrakant Kalyandas Khushaldas |
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Designation : |
Director |
|
Address : |
Uttarayan
AD 315, 74C Scheme, Vijaynagar, A.B. Road, Indore – 452 010, Madhya Pradesh,
India |
|
Date of Birth/Age : |
11.05.1936 |
|
Qualification : |
MSC (Mathematics) |
|
Date of Appointment : |
26.08.2010 |
|
DIN No. : |
00260818 |
KEY EXECUTIVES
|
Name : |
Ms. Anjali Malpani |
|
Designation : |
Secretary |
|
Address : |
30,
Classic Purnima Estate, Khajrana Road, Indore – 452 001, Madhya Pradesh,
India |
|
Date of Appointment : |
29.12.2014 |
|
PAN No.: |
AVQPM4709B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Rita R. Gajra |
|
2509700 |
|
R.D. Kirtani |
|
3100 |
|
Rashmi R. Gajra |
|
216500 |
|
Karishma R. Gajra |
|
216500 |
|
Rita R. Gajra (On behalf of all partners of Elve Corporation) |
|
500000 |
|
Rita R. Gajra (As coparcener of R.B. Gajra HUF) |
|
3550000 |
|
Rita R. Gajra jointly Vijay Chainani |
|
100 |
|
Rita R. Gajra jointly G.S. Bhagvat |
|
100 |
|
Rita R. Gajra jointly Priti Singi |
|
100 |
|
Rita R. Gajra jointly M.K. Shah |
|
100 |
|
Total |
|
6996200 |
AS ON 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing a wide range of crown wheel, pinions and spider kit assemblies. |
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Products : |
·
Spiral and
Hypoid Gears (Crown Wheel and Pinions) ·
Straight Bevel
Gears ·
Curvic
Couplings and Face Clutches ·
Spider Kit
Assemblies · Differential Cages and Housings |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS –
NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the Management. |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
Madhya
Pradesh Financial Corporation, Finance House, Bombay Agra Road, Indore – 452
001, Madhya Pradesh, India |
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Auditors : |
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|
Name : |
P.N. Nagar and Company Chartered Accountants |
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Address : |
First Floor, |
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Tel. No. : |
91-731-2539393 |
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Fax No. : |
91-731-2539393 |
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E-Mail : |
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PAN
No.: |
AASPN6728J |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates : |
Gajra Gears Private Limited (CIN No.: U29130MH1974PTC017201) Station Road,
Dewas – 455 001, Madhya Pradesh, India Tel No.:
91-7272-421000, 421111 Fax No.:
91-7272-421001/ 421002 E-Mail: export@gajra.com Elve Corporation Address: Elve Chambers,
Green Street, Fort, Mumbai – 400 023, Maharashtra, India Fax No.:
91-22-22662742 |
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|
|
|
Companies in which
Directors are substantially interested : |
·
Bhisham Investments Private Limited ·
Kenedey Investments Private Limited ·
Shakun Investments Private Limited |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6996200 |
Equity Shares |
Rs.10/- each |
Rs.69.962 million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
69.962 |
69.962 |
69.962 |
|
(b) Reserves & Surplus |
(1.622) |
0.871 |
10.672 |
|
(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) |
68.340 |
70.833 |
80.634 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
72.850 |
97.250 |
110.553 |
|
(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 |
13.705 |
11.514 |
9.233 |
|
Total Non-current
Liabilities (3) |
86.555 |
108.764 |
119.786 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
106.668 |
108.395 |
115.897 |
|
(b) Trade
payables |
106.478 |
100.361 |
119.713 |
|
(c) Other
current liabilities |
119.818 |
93.870 |
74.527 |
|
(d) Short-term
provisions |
7.159 |
11.093 |
3.580 |
|
Total Current
Liabilities (4) |
340.123 |
313.719 |
313.717 |
|
|
|
|
|
|
TOTAL |
495.018 |
493.316 |
514.137 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
187.238 |
199.234 |
213.206 |
|
(ii) Intangible
Assets |
11.152 |
12.304 |
13.575 |
|
(iii)
Capital work-in-progress |
9.668 |
10.432 |
10.138 |
|
(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 |
10.948 |
8.334 |
6.829 |
|
(e) Other
Non-current assets |
10.274 |
10.183 |
9.527 |
|
Total Non-Current
Assets |
229.280 |
240.487 |
253.275 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
209.443 |
204.773 |
204.759 |
|
(c) Trade
receivables |
48.698 |
38.357 |
48.562 |
|
(d) Cash
and cash equivalents |
0.666 |
2.750 |
2.418 |
|
(e) Short-term
loans and advances |
6.931 |
6.949 |
5.123 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
265.738 |
252.829 |
260.862 |
|
|
|
|
|
|
TOTAL |
495.018 |
493.316 |
514.137 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
283.041 |
300.144 |
303.238 |
|
|
|
Other Income |
2.765 |
2.610 |
8.322 |
|
|
|
TOTAL |
285.806 |
302.754 |
311.560 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
79.138 |
93.185 |
113.852 |
|
|
|
Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
(2.334) |
3.552 |
(2.839) |
|
|
|
Employee benefit expense |
64.005 |
62.448 |
53.457 |
|
|
|
Other expenses |
98.079 |
99.525 |
109.691 |
|
|
|
Prior period items |
(0.003) |
(0.013) |
0.040 |
|
|
|
TOTAL |
238.885 |
258.697 |
274.201 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
46.921 |
44.057 |
37.359 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
26.407 |
29.624 |
31.902 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
20.514 |
14.433 |
5.457 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
23.007 |
23.634 |
22.959 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(2.493) |
(9.201) |
(17.502) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(2.493) |
(9.201) |
(17.502) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
(22.567) |
(13.366) |
4.136 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(25.060) |
(22.567) |
(13.366) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Machinery and Tools |
3.569 |
2.263 |
2.676 |
|
|
TOTAL IMPORTS |
3.569 |
2.263 |
2.676 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
(0.36) |
(1.32) |
(2.50) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(0.88) |
(3.07) |
(5.77) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Sales) |
(%) |
16.58 |
14.68 |
12.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.51) |
(1.91) |
(3.47) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.04) |
(0.13) |
(0.22) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.63 |
2.90 |
2.81 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.78 |
0.81 |
0.83 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Million) |
(INR in Million) |
(INR in Million) |
|
Share Capital |
69.962 |
69.962 |
69.962 |
|
Reserves & Surplus |
10.672 |
0.871 |
(1.622) |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
80.634 |
70.833 |
68.340 |
|
|
|
|
|
|
Long Term borrowings |
110.553 |
97.250 |
72.850 |
|
Short Term borrowings |
115.897 |
108.395 |
106.668 |
|
Total borrowings |
226.450 |
205.645 |
179.518 |
|
Debt/Equity ratio |
2.808 |
2.903 |
2.627 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Million) |
(INR in Million) |
(INR in Million) |
|
Revenue from operations |
303.238 |
300.144 |
283.041 |
|
|
|
(1.020) |
(5.698) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Million) |
(INR in Million) |
(INR in Million) |
|
Revenue from operations |
303.238 |
300.144 |
283.041 |
|
Profit |
(17.502) |
(9.201) |
(2.493) |
|
|
(5.77%) |
(3.07%) |
(0.88%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
31.03.2012 (Rs.
In Million) |
|
Current Maturities of Long Term Debts |
27.973 |
28.257 |
22.650 |
|
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 |
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 |
----- |
|
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 |
Yes |
|
34] |
External Agency Rating,
if available |
Yes |
Note:
The registered office of the company has been shifted from Elve Chambers, Green Street, Fort, Mumbai – 400 023, Maharashtra to
the present address w.e.f. 26.08.2010.
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from directors |
2.950 |
2.950 |
|
Loans and advances from others |
51.900 |
51.900 |
|
SHORT TERM
BORROWINGS |
|
|
|
Intercorporate deposits |
10.000 |
12.000 |
|
Total |
64.850 |
66.850 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10531535 |
15/10/2014 |
20,000,000.00 |
MADHYA PRADESH FINANCIAL CORPORATION |
FINANCE HOUSE, BOMBAY AGRA ROAD, INDORE,
MADHYA PRADESH - 452001, INDIA |
C33757675 |
|
2 |
10343355 |
21/03/2012 |
25,000,000.00 |
MADHYA PRADESH FINANCIAL CORPORATION |
A.B. ROAD, INDORE, MADHYA PRADESH - 452001,
INDIA |
B35526151 |
|
3 |
80029844 |
10/03/2008 * |
20,000,000.00 |
M. P. FINANCIAL CORPORATION |
DEWAS, DEWAS, MADHYA PRADESH - 455001,
INDIA |
A35851906 |
|
4 |
80044000 |
26/09/2005 |
27,500,000.00 |
MADHYA PRADESH FINANCIAL CORPORATION |
A.B. ROAD, INDORE, MADHYA PRADESH - 452001,
INDIA |
- |
|
5 |
80006698 |
01/02/2010 * |
153,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, A.B. ROAD, NEAR G.P.O,
INDORE, MADHYA PRADESH - 452001, INDIA |
A79280095 |
* Date of charge modification
CONTINGENT
LIABILITIES (AS ON 31.03.2014):
1. Claim against the
company not acknowledged as debt Rs.0.380 million advance there against
Rs.2.020 million. Deposited under protest.
2. Surety in the Bond for
Rs.45.000 million executed by Gajra Gears Private Limited. In favour of
president of India for availing Exemption under EPCG Scheme.
3. Income Tax demand for
Assessment year 2009-10 under appeal Rs.0.292 million and 2011-12 Rs.2.782
million under appeal.
4.
Sales Tax and Entry Tax demand under appeal as below:
|
Nature of Statute |
Nature of Dues |
Amount (Rs. in million) |
Period to which the amount relates to |
Forum where pending |
|
Income
Tax Act, 1961 |
Income Tax |
0.292 |
2008-09 |
Deputy Comm. (Appeals) |
|
Income
Tax Act, 1961 |
Income Tax |
2.782 |
2010-11 |
Deputy Comm. (Appeals) |
|
M.P.
Sales Tax Act, 1956 |
Sales Tax |
0.111 |
1996-97 |
Deputy Comm. (Appeals) |
|
Central
Sales Tax Act, 1956 |
Central Sales Tax |
0.015 |
1996-97 |
Deputy Comm. (Appeals) |
|
Entry
Tax Act, 1976 |
Entry Tax |
0.632 |
1996-97 |
Deputy Comm. (Appeals) |
|
Entry
Tax Act, 1976 |
Entry Tax |
0.024 |
2006-07 |
Deputy Comm. (Appeals) |
|
Entry
Tax Act, 1976 |
Entry Tax |
0.283 |
2007-08 |
Deputy Comm. (Appeals) |
|
Karnataka
Sales Tax Act, 2003 |
Sales Tax |
0.207 |
2010-11 |
Deputy Comm. (Appeals) |
|
Karnataka
Sales Tax Act, 2003 |
Sales Tax |
0.147 |
2008-09 |
Deputy Comm. (Appeals) |
|
Karnataka
Sales Tax Act, 2003 |
Sales Tax |
0.254 |
2011-12 |
Deputy Comm. (Appeals) |
FIXED ASSETS
·
Freehold Land
·
Factory Buildings
·
Plant and Machinery
·
Furniture and Fixtures
·
Air Conditioners
·
Computer
·
Vehicle
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 aainst 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.62.16 |
|
|
1 |
Rs.92.73 |
|
Euro |
1 |
Rs.68.23
|
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
-- PROFITABILITY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
- |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
15 |
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.