MIRA INFORM REPORT
|
Report No. : |
318415 |
|
Report Date : |
24.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
OWENS-CORNING (INDIA) PRIVATE LIMITED (w.e.f. 12.05.2011) |
|
|
|
|
Formerly Known
As : |
OWENS-CORNING (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
7th Floor, Alpha Building, Hiranandani Gardens, Powai,
Mumbai – 400076, Maharashtra |
|
Tel No.: |
91-22-66681700 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
05.07.1995 |
|
|
|
|
Com. Reg. No.: |
11-124707 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1308.100
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U73100MH1995PTC124707 |
|
|
|
|
TIN No.: |
Not Available |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMO01785A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO1739M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture and exporter of glass fiber products for use
in composites. |
|
|
|
|
No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 13050000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “OC NL Invest Cooperatief U.A”. It is a well-
established company having fine track record. The company has performed decent during 2014 and it has achieved
nearly 10.35% topline growth and profitability of the company stood at
11.36%. Rating also takes into consideration strong financial and managerial
support from its parent company and decent liquidity profile of the company. Trade relations are reported as fair. Payments are reported to be
regular and as per commitment. In view of decent operations backed by strong parent company support, the
company can be considered good for normal business dealings at usual trade
terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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
NOT AVAILABLE
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 (GENERAL DETAILS)
|
Name : |
Mr. Parsh Shah |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-39219100 |
|
Date : |
22.04.2015 |
LOCATIONS
|
Registered Office : |
7th Floor, Alpha Building, Hiranandani Gardens, Powai, Mumbai
- 400076, Maharashtra, India |
|
Tel. No.: |
91-22-66681700 |
|
Fax No.: |
91-22-66681701 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
301-310, A Wing, Bonanza, Sahar Plaza Complex, M. V. Road, Andheri
(East), Mumbai - 400059, Maharashtra, India |
|
Tel. No.: |
91-22-28398250 |
|
Fax No.: |
91-22-28398251 |
|
|
|
|
Factory 1 : |
Plot No. T 28, MIDC, Phase 2, Taloja, District Raigad - 410208,
Maharashtra, India |
|
Tel. No.: |
91-22-39219100/ 27402108 |
|
Fax No.: |
91-22-39219101 |
|
|
|
|
Branch Office : |
Located At: · New Delhi ·
Mumbai |
DIRECTORS
As on 25.09.2014
|
Name : |
Marcio Anacleto Sandri |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
7760 Honeysuckle Ln, Maumee Ch, Maumee 43537, United States of America
|
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
14.09.2012 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
05172008 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Anindya Ghosh |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
U 7 Vidyasagar Niketan, Salt Lake, Kolkata – 700064, West Bengal,
India |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
25.09.2013 |
||||||||||||||||||||||||||||||||||||
|
PAN No.: |
ABMPG9277E |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
05221554 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Linling Wu |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Additional director |
||||||||||||||||||||||||||||||||||||
|
Address : |
Room 1002, No.7, Lane 500, Huang Jin Cheng Avenue, Changning District,
Shanghai 201103 |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
26.05.1963 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
11.12.2013 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
06754034 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Rama Krishna Rao Chilakala |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
H.No.2-2-186/3 and 4, 203 Suchita Residency, RK Nagar,, Bagh Amberpet, Hyderabad - 500013, Andhra Pradesh, India |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
25.09.2014 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
06830820 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Paras Haren Shah |
|
Designation : |
Secretary |
|
Address : |
8, Dreamland, Jai Shastri Nagar, Mulund Colony, Mulund (West), Mumbai - 400082, Maharashtra, India |
|
Date of Appointment : |
07.12.2012 |
|
PAN No.: |
BHZPS0268K |
MAJOR SHAREHOLDERS
As on 25.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
IPM Inc. Delaware |
|
78487796 |
|
OC NL Invest Cooperatief U. A. |
|
52325196 |
|
OC NL Invest Cooperatief U. A jointly with Satish Kulkarni |
|
1 |
|
OC NL Invest Cooperatief U. A jointly with Phani Kumar |
|
1 |
|
OC NL Invest Cooperatief U. A, Jointly with Edward Neunuebel |
|
1 |
|
OC NL Invest Cooperatief U. A, Jointly with Claire Dagommer |
|
1 |
|
OC NL Invest Cooperatief U. A, Jointly with Magali Leroux |
|
1 |
|
Total |
|
130812997 |
Equity Share Break up (Percentage of Total Equity)
As on 25.09.2014
|
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 |
100.00 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20318415.doc%2024-Apr-2015_files/image013.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacture and exporter of glass fiber products for use
in composites. |
|
|
|
|
Products : |
Glass Fiber Products |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
|
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
40 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Opposite Shivaji Park, Dadar
(West), Mumbai – 400028, Maharashtra, India |
|
PAN No.: |
AAEFP3641G |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
· OC NL Invest Cooperatief U.A |
|
|
|
|
Ultimate Holding
company : |
· Owens Corning Inc. |
|
|
|
|
Fellow Subsidiary
Company : |
· Owens Corning Composite Materials, LLC · Owens Corning Korea · Owens Corning Fiberglas France · Owens Corning Veil UK Limited · OCV Reinforcements Alcala Spain, S.L · OCV Chambery France · European Owens Corning Fiberglas SA · OCV Reinforcements Hangzhou · OCV Composites (China) Company Limited · OCV Fabrics (Changzhou) Company Limited · OCV Italia SRL., Italy · Owens Corning Japan Limited · Owens Corning Singapore Pte Limited · Owens Corning Sales, LLC · European Owens Corning Fiberglas Sprl · Owens Corning Australia Pty Limited · Owens Corning Composite Materials LLC · Owens Corning Korea · OCV Mexico S DE RL DE CV · OCV Composites (China) Company Limited · Owens Corning, Hong Kong · OC Insulating Systems Canada LP · OCV Chambery International · Owens Corning Industries (India) Private Limited · CIN No.: U26102AP1998FTC030183 |
CAPITAL STRUCTURE
As on 25.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
Rs.10/- each |
Rs.2000.000 Million |
|
2500000 |
Preference Shares |
Rs.100/- each |
Rs.250.000 Million |
|
|
Total |
|
Rs.2250.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
130812997 |
Equity Shares |
Rs.10/- each |
Rs.1308.130
Million |
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
Rs.10/- each |
Rs.2000.000 Million |
|
2500000 |
Preference Shares |
Rs.100/- each |
Rs.250.000 Million |
|
|
Total |
|
Rs.2250.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13081000 |
Equity Shares |
Rs.10/- each |
Rs.1308.100
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 |
1,308.100 |
1,308.100 |
1,308.130 |
|
(b) Reserves & Surplus |
3,259.500 |
2,777.000 |
2,668.700 |
|
(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) |
4,567.600 |
4,085.100 |
3,976.830 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
6.300 |
3.700 |
1.200 |
|
(b) Deferred tax liabilities (Net) |
398.600 |
452.200 |
504.500 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
28.000 |
33.300 |
41.300 |
|
Total Non-current
Liabilities (3) |
432.900 |
489.200 |
547.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
398.000 |
375.200 |
277.170 |
|
(c) Other
current liabilities |
149.600 |
99.900 |
110.700 |
|
(d) Short-term
provisions |
162.500 |
165.000 |
156.500 |
|
Total Current
Liabilities (4) |
710.100 |
640.100 |
544.370 |
|
|
|
|
|
|
TOTAL |
5,710.600 |
5,214.400 |
5,068.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2,634.100 |
2,850.500 |
3,169.300 |
|
(ii)
Intangible Assets |
4.400 |
4.200 |
5.600 |
|
(iii)
Capital work-in-progress |
9.400 |
59.900 |
96.900 |
|
(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 |
78.200 |
84.000 |
70.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2,726.100 |
2,998.600 |
3,341.800 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
675.300 |
544.600 |
786.700 |
|
(c) Trade
receivables |
795.600 |
825.400 |
618.100 |
|
(d) Cash and
cash equivalents |
1,368.300 |
626.300 |
184.600 |
|
(e)
Short-term loans and advances |
123.400 |
219.200 |
135.700 |
|
(f) Other
current assets |
21.900 |
0.300 |
1.300 |
|
Total
Current Assets |
2,984.500 |
2,215.800 |
1,726.400 |
|
|
|
|
|
|
TOTAL |
5,710.600 |
5,214.400 |
5,068.200 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4,246.400 |
3,843.500 |
3,857.100 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1,090.200 |
541.500 |
1,086.800 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.700 |
9.900 |
19.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
1,084.500 |
531.600 |
1,067.500 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/ AMORTISATION (F) |
345.200 |
339.500 |
323.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
739.300 |
192.100 |
744.500 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
256.800 |
83.800 |
240.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
482.500 |
108.300 |
504.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1,931.600 |
1,823.300 |
1,319.300 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2,414.100 |
1,931.600 |
1,823.300 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
3.69 |
0.83 |
3.85 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
11.36 |
2.82 |
13.07 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
25.67 |
14.09 |
28.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.97 |
3.73 |
14.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.05 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.20 |
3.46 |
3.17 |
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 |
1308.130 |
1308.100 |
1308.100 |
|
Reserves & Surplus |
2668.700 |
2777.000 |
3259.500 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
3976.830 |
4085.100 |
4567.600 |
|
|
|
|
|
|
Long Term borrowings |
1.200 |
3.700 |
6.300 |
|
Short Term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
1.200 |
3.700 |
6.300 |
|
Debt/Equity
ratio |
0.000 |
0.001 |
0.001 |
%20PRIVATE%20LIMITED%20-%20318415.doc%2024-Apr-2015_files/image015.gif)
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 |
3,857.100 |
3,843.500 |
4,246.400 |
|
|
|
(0.353) |
10.483 |
%20PRIVATE%20LIMITED%20-%20318415.doc%2024-Apr-2015_files/image017.gif)
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
|
3,857.100 |
3,843.500 |
4,246.400 |
|
Profit |
504.000 |
108.300 |
482.500 |
|
|
13.07% |
2.82% |
11.36% |
%20PRIVATE%20LIMITED%20-%20318415.doc%2024-Apr-2015_files/image019.gif)
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
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 |
Yes |
|
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 |
No |
GENERAL INFORMATION
The Company was incorporated in India on July 5, 1995. The Company is involved in the manufacture of glass fiber products for use in composites. The Company's manufacturing location is situated at Taloja, District Raigarh (Maharashtra) and head office/registered office is at Powai, Mumbai. The Company was converted into a private limited company effective May 12, 2011 and accordingly, the name of Company was changed to Owens-Corning (India) Private Limited.
FINANCIAL HIGHLIGHTS:
The revenues of the Company stood at Rs.4246.400 Million in the financial year 2013-14 compared to Rs.3843.500 Million in the last financial year representing a 10% growth.
OPERATIONS REVIEW:
The Company continues to be a leading player of glassfibre market in India. The Industry continues to face pricing pressure due to cheaper imports. During the year the Industry demand remained flat with noticeable drop in certain sectors like wind energy and in Exports. The Company recorded sales of 49,064 MT (PY 47,461MT) and 9.6 MMm2 (PY 5.9 MMm2) out of own manufactured products and 1,534 MT (PY 2054 MT) and 0.55 MMm2 (PY 0.88MMm2) out of traded products of both Glass Reinforcements and Engineered Solutions during the year ended March 31, 2014.
The manufacturing facility continues to pursue various cost saving measures including sourcing, energy efficiency and productivity improvement initiatives.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10394333 |
03/12/2012 |
325,000,000.00 |
HDFC Bank Limited |
HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai, Maharashtra - 400013, India |
B64962202 |
|
2 |
10068510 |
04/09/2007 |
210,000,000.00 |
Citibank N.A. |
Fort House, Dr. D. N. Road, Fort, Mumbai, Maharashtra - 400001, India |
A23647126 |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.63.19 |
|
|
1 |
Rs.94.94 |
|
Euro |
1 |
Rs.67.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
RKA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
62 |
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.