MIRA INFORM REPORT

 

 

Report No. :

317535

Report Date :

15.04.2015

 

IDENTIFICATION DETAILS

 

Name :

VANDANA GLOBAL LIMITED

 

 

Formerly Known As :

VANDANA GLOBAL PRIVATE LIMITED

 

 

Registered Office :

The Capital Office No. 903, ‘B’ Wing, 9th Floor, Plot No. C-70, BKC, Bandra (East), Mumbai - 400051, Maharashtra

Tel. No.:

91-771-4006000 / 4030440

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

12.02.1996

 

 

Com. Reg. No.:

11-219948

 

 

Capital Investment / Paid-up Capital :

Rs.126.506 Million

 

 

CIN No.:

[Company Identification No.]

U51101MH1996PLC219948

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMV13026G

 

 

PAN No.:

[Permanent Account No.]

AAACV2018E

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Sponge and Steel, Power, Ferro Alloys and Trading of Iron Ore Fines.

 

 

No. of Employees :

600 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (34)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but Correct

 

 

Litigation :

Clear 

 

 

Comments :

Subject is an established company having moderate track record.

 

As per Registrar of Companies the date of balance sheet (i.e. financial file) is shown as 31.03.2014 but the document related to the financial for the 2014 could not be made available from any source.

 

As per previous financial record of 2013, the ratings constrained on account of the company’s moderate operational risk profile and continuous dip in profitability of the company over a year.

 

However, trade relations are fair. 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.

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CARE

Rating

Long term bank facilities =BB+

Rating Explanation

Inadequate degree of safety and high credit risk

Date

07.08.2014

 

Rating Agency Name

CARE

Rating

Short term bank facilities= A4

Rating Explanation

Minimal degree of safety and very high credit risk

Date

07.08.2014

 

 

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. Pankaj Baldua

Designation :

AGM – Finance

Contact No.:

91-9301721710

Date :

13.04.2015

 

 

LOCATIONS

 

Registered Office :

The Capital Office No. 903, ‘B’ Wing, 9th Floor, Plot No. C-70, BKC, Bandra (East), Mumbai - 400051, Maharashtra, India

Tel. No.:

Not Available

Mobile No.:

91-9301721710 [Mr. Pankaj Baldua]

Fax No.:

Not Available

E-Mail :

codinthree@rediffmail.com

agmfinance@vandanaglobal.com

Website :

www.vandanaglobal.com

http://www.vandanavidhyut.com

 

 

Corporate Office :

Vandana Bhawan, M.G. Road, Raipur - 492001, Chhattisgarh, India

Tel. No.:

91-771-4006000 / 4030440

Fax No.:

91-771- 4006001

 

 

Factory :

Siltara Industrial Area, Phase – 2, Siltara, Raipur – 493111, Chhattisgarh, India

Tel. No.:

91-771-2407250/ 2535440

Fax No.:

91-771-2407253

Area :

10 acres

Location :

Owned

 

 

DIRECTORS

 

AS ON: 29.09.2014

 

Name :

Mr. Gopal Prasad Agrawal

Designation :

Managing director

Address :

“Vandana” 21/35, Opposite Civil Lines, Telephone Exchange, Civil Lines, Raipur – 492001, Chhattisgarh, India

Date of Birth/Age :

27.06.1956

Qualification :

M.Com, LLB

Date of Appointment :

01.04.2014

PAN No.:

ADVPA4105C

DIN No.:

00103805

 

 

Name :

Mr. Vijit Kumar Agrawal

Designation :

Whole-time director

Address :

“Vandana” 21/35, Opposite Civil Lines, Telephone Exchange, Civil Lines, Raipur – 492001, Chhattisgarh, India

Date of Birth/Age :

27.08.1981

Qualification :

B.E.

Date of Appointment :

01.09.2010

PAN No.:

ADVPA4191Q

DIN No.:

00103847

 

 

Name :

Mr. Nirmal Kumar Chaudhari

Designation :

Whole-time director

Address :

6, Prasad, Zenith Staff Colony, Khopoli, Raigad – 410203, Maharashtra, India

Date of Birth/Age :

01.04.1959

Date of Appointment :

01.04.2013

DIN No.:

01705352

 

 

Name :

Mr. Dipen Vasant Parekh

Designation :

Director

Address :

501, 5th Floor, Umerji House, Telli Gully, Andheri [East], Mumbai – 400069, Maharashtra, India

Date of Birth/Age :

28.03.1960

Date of Appointment :

08.09.2012

DIN No.:

03227898

 

 

Name :

Mr. Devendra Agrawal

Designation :

Director

Address :

15/64, Jawahar Nagar, Raipur-492001, Chattisgarh,, India

Date of Birth/Age :

13.05.1969

Date of Appointment :

16.06.2014

Date of Cessation :

03.12.2014

DIN No.:

00174360

 

 

Name :

Mr. Harsh Verdhan Agarwal

Designation :

Director

Address :

15/64, Jawahar Nagar, Raipur-492001, Chattisgarh,, India

Date of Birth/Age :

01.01.1983

Date of Appointment :

16.06.2014

DIN No.:

00812376

 

 

KEY EXECUTIVES

 

Name :

Mr. Ajay Tipte

Designation :

Company Secretary

Address :

LIG-534, Padmanabhpur, durg-491001, Chattisgarh,, India

Date of Birth/Age :

19.05.1984

Date of Appointment :

01.02.2009

PAN No.:

AGAPT2828D

 

 

Name :

Mr. Pankaj Baldua

Designation :

AGM – Finance

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON: 29.09.2014

 

NOTE: SHAREHOLDING DETAILS FILE ATTACHED.

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON: 29.09.2014

 

Category

Percentage

Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others

1.40

Bodies corporate

90.56

Directors or relatives of Directors

8.04

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Sponge and Steel, Power, Ferro Alloys and Trading of Iron Ore Fines.

 

 

Products  :

ITC CODE

 

PRODUCT DESCRIPTIONS

72023000

Silico Manganese

98010003 / 9801

Electricity

72031000

Sponge Iron

72071920

BILLET

7203

Ferrous Products obtained by direct

reduction of Iron Ore

7207

Iron and Steel Products

7202

Ferro Alloys

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Sponge and Steel, Power, Ferro Alloys and Iron Ore Fines.

Countries :

Gulf Countries 

 

 

Imports :

 

Products :

Raw Material

Countries :

Europe Countries

 

 

Terms :

 

Selling :

Not Available

 

 

Purchasing :

Not Available

 

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

Not Available

Name of the Person :

Not Available

Contact No.:

Not Available

Since How Long Known :

Not Available

Experience :

Not Available

Maximum Limit Dealt :

Not Available

 

 

Customers :

 

Reference :

Not Available

Name of the Person :

Not Available

Contact No.:

Not Available

Since How Long Known :

Not Available

Experience :

Not Available

Maximum Limit Dealt :

Not Available

 

 

No. of Employees :

600 (Approximately)

 

 

Financial Institutions :

L & T Finance Limited, L & T House, Ballard Estate, Mumbai – 400001, Maharashtra, India

 

 

Bankers :
  • Indian Overseas Bank, 310, Station Road, Raipur - 492001, Chhattisgarh, India

 

  • Oriental Bank of Commerce, Raj Tower, Tatyapara Chowk, Raipur - 492001, Chhattisgarh, India

 

  • State Bank of India, Commercial Branch, 2nd Floor, Pujari Chamber, Panchpedi Naka,, Raipur - 492001, Chhattisgarh, India

 

 

Facilities :

 

Secured Loan

As on

31.03.2013

As on

31.03.2012

 

(Rs. In Million)

LONG TERM BORROWINGS:

 

 

Rupee term loans from banks

55.000

226.558

Other loans and advances

4.613

1.750

SHORT TERM BORROWINGS:

 

 

Working capital loans from banks

1414.568

1292.939

 

 

 

Total

1474.181

1521.247

 

Auditors 1 :

 

Name :

Bamb Taori and Company

Chartered Accountants

Address :

B-36/5, Shilendra Nagar, Raipur, Chhattisgarh, India

Income-tax PAN of auditor or auditor's firm :

AACFB6620M

 

 

Auditors 2 :

 

Name :

Chaturvedi and Shah

Chartered Accountants

Address :

912-13, Tulsiyani

Chembers, Nariman

Point, Mumbai, Maharashtra, India

Income-tax PAN of auditor or auditor's firm :

AAAFC0662N

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Joint Venture Companies

[AS ON 31.03.2013] :
  • Chhattisgarh Captive Coal Mining Limited [U01410CT2005PLC018224]
  • Raipur Infrastructure Company Limited [U45203CT2004PLC016321]

 

 

Subsidiaries Companies

[AS ON 31.03.2013]:
  • Kalawati Ispat and Power Private Limited [U27100MH2005PTC156733]
  • V G Overseas Limited
  • V G Power and Minerals Pte Limited
  • V.G. Enerji Ve Medencilik Limited STI
  • Vandana Power Ventures Limited [U40103MH2009PLC196327]
  • VG South Africa Mining (Pty) Limited
  • VG World DMCC (From 10.11.2011)

 

 

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives

[AS ON 31.03.2013]:

  • Ferguson Traders Private Limited [U51909WB1995PTC069455]
  • Ganga Shipping and Logistic Solution Private Limited [U63090MH1996PTC100527]
  • Nirsons Infrastructure Private Limited [U74900MH1996PTC100583]
  • Shakuntala Enclave Private Limited [U70100MH2005PTC155501]
  • Shivali Udyog (India) Limited [U21015CT1995PLC010125]
  • Spread Merchant Private Limited [U51109WB1994PTC064765]
  • Singhal Forestry Private Limited [U02000MH1996PTC099544]
  • V G Real Estates Private Limited [U70100MH2005PTC157302]
  • Vandana Industries Limited [U25202CT1993PLC007901]
  • Vandana Ispat Limited [U27106CT1995PLC008909]
  • Vandana Rolling Mills Limited [U26954CT1985PLC003085]
  • Vandana Vidhyut Limited [U04010CT1995PLC010142]
  • Waylink Suppliers Private Limited [U51109WB1996PTC078263]

 

 

CAPITAL STRUCTURE

 

AS ON: 29.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

17750000

Equity Shares

Rs. 10/- each

Rs. 177.500 Million

3250000

Preference Shares

Rs. 10/- each

Rs. 32.500 Million

 

Total

 

Rs. 210.000 Million

 

Issued Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10,295,153

Equity Shares

Rs. 10/- each

Rs.102.952 Million

3,025,000

Preference Shares

Rs. 10/- each

Rs.30.250 Million

 

Total

 

Rs. 133.202 Million

 

Subscribed Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

10,253,693

Equity Shares

Rs. 10/- each

Rs.102.537 Million

3,025,000

Preference Shares

Rs. 10/- each

Rs.30.250 Million

 

Total

 

Rs. 132.787 Million

 

 

Paid-up Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

9,884,693

Equity Shares

Rs. 10/- each

Rs.98.847 Million

3,025,000

Preference Shares

Rs. 10/- each

Rs.30.250 Million

 

Total

 

Rs. 129.097 Million

 

 

 

 

AS ON 31.03.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

9750000

Equity Shares

Rs. 10/- each

Rs. 97.500 Million

3250000

Preference Shares

Rs. 10/- each

Rs. 32.500 Million

 

Total

 

Rs. 130.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

9625653

Equity Shares

Rs. 10/- each

Rs.96.256 Million

3025000

Preference Shares

Rs. 10/- each

Rs.30.250 Million

 

Total

 

Rs. 126.506 Million

 

 

FINANCIAL DATA

[All figures are in Rupees Million]

 

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

126.506

96.256

96.256

(b) Reserves & Surplus

1883.743

1725.860

1570.762

(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)

2010.249

1822.116

1667.018

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

59.613

228.308

466.244

(b) Deferred tax liabilities (Net)

198.928

224.560

271.066

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

12.023

9.440

10.316

Total Non-current Liabilities (3)

270.564

462.308

747.626

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

1418.052

1293.710

1073.410

(b) Trade payables

749.281

589.592

499.863

(c) Other current liabilities

352.372

358.002

417.870

(d) Short-term provisions

55.859

56.536

59.960

Total Current Liabilities (4)

2575.564

2297.840

2051.103

 

 

 

 

TOTAL

4856.377

4582.264

4465.747

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1413.398

1372.393

1562.385

(ii) Intangible Assets

12.957

18.839

22.259

(iii) Capital work-in-progress

112.616

237.812

96.639

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

119.641

339.478

244.830

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d) Long-term Loan and Advances

507.988

676.825

752.542

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

2166.600

2645.347

2678.655

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

1158.708

937.914

672.809

(c) Trade receivables

217.400

302.354

472.842

(d) Cash and cash equivalents

175.204

177.572

96.462

(e) Short-term loans and advances

1128.289

513.096

537.772

(f) Other current assets

10.176

5.981

7.207

Total Current Assets

2689.777

1936.917

1787.092

 

 

 

 

TOTAL

4856.377

4582.264

4465.747

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Income

5605.186

5285.009

4423.363

 

 

Other Income

143.039

39.800

13.266

 

 

TOTAL                                     (A)

5748.225

5324.809

4436.629

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

4410.861

4204.205

3043.988

 

 

Purchases of Stock-in-Trade

121.778

1.562

91.129

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(16.288)

(141.713)

(33.117)

 

 

Employees benefits expense

226.768

200.219

138.563

 

 

Other expenses

436.480

454.267

310.985

 

 

TOTAL                                     (B)

5179.599

4718.540

3551.548

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

568.626

606.269

885.081

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

253.055

262.166

220.292

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

315.571

344.103

664.789

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

210.543

233.872

259.242

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                             (G)

105.028

110.231

405.547

 

 

 

 

 

Less

TAX                                                                  (H)

(22.605)

(44.867)

92.050

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

127.633

155.098

313.497

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

1205.810

1050.712

737.215

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

1333.443

1205.810

1050.712

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

81.350

176.932

NIL

 

TOTAL EARNINGS

81.350

176.932

NIL

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

NA

NA

35.158

 

TOTAL IMPORTS

NA

NA

35.158

 

 

 

 

 

 

Earnings Per Share (Rs.)

10.09

16.11

32.57

 

Particulars

 

 

 

31.03.2014

Sales Turnover (Approximately)

 

 

5000.000

 

Expected Sales ( 2014-2015 ) : Rs.6000.000 Million

 

The above information has been parted by Mr. Pankaj Baldua.

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

Net Profit Margin

(PAT/Sales)

(%)

2.28

2.93

7.09

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

10.14

11.47

20.01

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.27

2.75

9.83

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.05

0.06

0.24

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.74

0.84

0.92

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.04

0.84

0.87

 

 

FINANCIAL ANALYSIS

[All figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

96.256

96.256

126.506

Reserves & Surplus

1570.762

1725.860

1883.743

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

1667.018

1822.116

2010.249

 

 

 

 

long-term borrowings

466.244

228.308

59.613

Short term borrowings

1073.410

1293.710

1418.052

Total borrowings

1539.654

1522.018

1477.665

Debt/Equity ratio

0.924

0.835

0.735

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

4423.363

5285.009

5605.186

 

 

19.479

6.058

 

 

 

NET PROFIT MARGIN

 

 

Net Profit Margin

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

4423.363

5285.009

5605.186

Profit

313.497

155.098

127.633

 

7.09%

2.93%

2.28%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

CURRENT MATURITIES OF LONG-TERM DEBT DETAILS:

 

Particulars

31.03.2013

31.03.2012

31.03.2011

 

(Rs. In Million)

Current maturities of long-term debt

227.183

254.109
274.569

 

 

 

 

Total

227.183

254.109
274.569

 

 

 

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

No

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

No

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

 

Particulars

As on

31.03.2013

As on

31.03.2012

 

(Rs. In Million)

SHORT TERM BORROWINGS:

 

 

Intercorporate Borrowings

3.484

0.221

Deferred Sales tax loan

0.000

0.550

 

 

 

Total

3.484

0.771

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10509498

10/07/2014

290,000,000.00

ORIENTAL BANK OF COMMERCE

TATYAPARA CHOWK, G.E. ROAD, RAIPUR, CHHATTISGARH 
- 492001, INDIA

C11655552

2

10486508

10/07/2014 *

900,000,000.00

ORIENTAL BANK OF COMMERCE

TATYAPARA CHOWK, G.E. ROAD, RAIPUR, CHHATTISGARH 
- 492001, INDIA

C11657707

3

10483146

08/02/2014

10,000,000.00

INDIAN OVERSEAS BANK

310, STATION ROAD, RAIPUR, CHHATTISGARH - 492001, 
INDIA

B98697014

4

10473224

09/12/2013 *

10,000,000.00

ORIENTAL BANK OF COMMERCE

G.E. ROAD, RAIPUR, CHHATTISGARH - 492001, INDIA

B94951720

5

10455462

16/10/2013

2,416,000.00

L & T FINANCE LIMITED

L&T HOUSE,, BALLARD ESTATE,, MUMBAI, MAHARASHTRA 
- 400001, INDIA

B87693842

6

10450839

28/09/2013

666,311,800.00

IDBI BANK

DIFC BRANCH, DUBAI, - 150, UNITED ARAB EMIRATES

B85660496

7

10426689

29/04/2013 *

400,000,000.00

ORIENTAL BANK OF COMMERCE

G.E. ROAD, RAIPUR, CHHATTISGARH - 492001, INDIA

B75893297

8

10416641

20/03/2013 *

980,000,000.00

ORIENTAL BANK OF COMMERCE

MAIN BRANCH, RAJ TOWER, TATYAPARA CHOWK, RAIPUR, 
CHHATTISGARH - 492001, INDIA

B72641277

9

10415081

18/03/2015 *

1,093,750,000.00

IDBI BANK LIMITED

IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHA 
RASHTRA - 400005, INDIA

C47228861

10

10300523

30/06/2011

2,360,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W 
, MUMBAI, MAHARASHTRA - 400013, INDIA

B18178277

 

* Date of charge modification

 

Note: The Registered Office of the company has been shifted from Ground floor, 20 Amar Industrial Estate, 159 CST Road, Kalina, Santacruz (East), Mumbai - 400098, Maharashtra, India to the present address w.e.f. 06.05.2013.

 

PERFORMANCE REVIEW [AS ON 31.03.2013]

 

During the year, the Company has achieved an aggregate turnover of Rs. 6179.100 Million registering an increase of 7.23% over the previous year’s Rs. 5762.900 Million. Profit after tax stands at Rs.127.600 Million. Reserves and Surplus have increased to Rs. 1333.400 Million as compared to last year’s Rs.1205.800 Million.

 

 

FIXED ASSETS

 

  • Land
  • Building
  • Factory building
  • Plant and Machinery
  • Computer and Equipments
  • Furniture and Fixtures
  • Vehicles
  • Motor vehicles

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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 judgment 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. 62.38

UK Pound

1

Rs.91.05

Euro

1

Rs.66.16

 

 

INFORMATION DETAILS

 

Information gathered by :

SVA

 

 

Analysis Done by :

SUM

 

 

Report Prepared by :

SNT

 

 

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

3

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

4

--RESERVES

1~10

4

--CREDIT LINES

1~10

3

--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

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

 

34

 

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

 

--

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.