MIRA INFORM REPORT
|
Report No. : |
318824 |
|
Report Date : |
28.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
AARKAY FOOD PRODUCTS LIMITED |
|
|
|
|
Registered
Office : |
C-1107/1108, 11th Floor, Titanium
Square, Thaltej Cross Road, S.G. Highway, Thaltej, Ahmedabad – 380 054,
Gujarat |
|
Tel. No.: |
91-79-40053301 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
02.03.1987 |
|
|
|
|
Com. Reg. No.: |
04-009464 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.20.000 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15131GJ1987PLC009464 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AHMA02226A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged manufacturing natural food ingredients and additives. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (17) |
|
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 |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track. The company possesses a moderate financial profit marked by small
networth base, incremental financial leverage and working capital intensive
operations coupled with drastic decline in its cash balance. Further, management has witnessed a modest revenue base as well as a
low net profitability during FY14. The ratings also take into consideration, the information available from
indirect source i.e. CRISIL, which states that the management of the subject
is facing several instances of delay in its debt servicing. However, business is active. Payment terms are slow. In view of extensive experience of the promoters, the company can be
considered for business dealings on a 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 very low prosects of recovery. |
|
Date |
April 06, 2015 |
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 BY
|
Name : |
Mr. Ashok Hingorani |
|
Designation : |
Director |
|
Contact No.: |
91-79-40053301 |
|
Date : |
27.04.2015 |
LOCATIONS
|
Registered Office/ Corporate Office/ Marketing Office : |
C-1107/1108, 11th Floor,
Titanium Square, Thaltej Cross Road, S.G. Highway, Thaltej, Ahmedabad – 380
054, Gujarat, India |
|
Tel. No.: |
91-79-40053301/ 02 |
|
Fax No.: |
91-79-40053300 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Block No.634, Laxmi
Industrial Estate, Ranchhodpura Road,
Near Bhadaj, Rakanpur, Taluka Kalol, District Gandhinagar – 382 721, Gujarat, India |
|
Tel. No.: |
91-2764-286513/ 286516 |
|
Fax No.: |
91 2764 286509 |
|
Area : |
2308 sq. mtrs. |
|
Location : |
Owned |
|
|
|
|
Overseas Office : |
Aarkay Ingredients Rus L.L.C. 197342, Russia, St. Petersburg, Novosibirskaya Street, House No.6,
lit. A, Room No.2-N. |
|
Tel. No.: |
+79312955129 |
|
E-Mail : |
DIRECTORS
AS ON 25.09.2014
|
Name : |
Mr. Ravi Kahanchand Kapoor |
|
Designation : |
Director |
|
Address : |
A/22,
Goyal Terrace, Bodakdev, Vastrapur, Near Judges Bunglow, Ahmedabad – 380 054,
Gujarat, India |
|
Date of Birth/Age : |
28.07.1954 |
|
Date of Appointment : |
09.03.1987 |
|
DIN No.: |
00451952 |
|
|
|
|
Name : |
Mr. Anil Kahanchand Kapoor |
|
Designation : |
Director |
|
Address : |
B-31,
Akash Flate, Bodakdev, Near Judges Bunglow, Premchandnagar Road, Vastrapur,
Ahmedabad – 380 054, Gujarat, India |
|
Date of Birth/Age : |
22.06.1958 |
|
Date of Appointment : |
15.10.1987 |
|
DIN No.: |
00452035 |
|
|
|
|
Name : |
Mr. Shashi Kahanchand Kapoor |
|
Designation : |
Director |
|
Address : |
B-31,
Akash Flate, Bodakdev, Near Judges Bunglow, Premchandnagar Road, Vastrapur, Ahmedabad
– 380 054, Gujarat, India |
|
Date of Birth/Age : |
13.10.1959 |
|
Date of Appointment : |
09.03.1987 |
|
DIN No.: |
00452089 |
|
|
|
|
Name : |
Mrs. Saroj Mohinder Kapoor |
|
Designation : |
Director |
|
Address : |
B-51,
Akash Flate, Bodakdev, Near Judges Bunglow, Premchandnagar Road, Vastrapur,
Ahmedabad – 380 054, Gujarat, India |
|
Date of Birth/Age : |
08.01.1952 |
|
Date of Appointment : |
01.03.1997 |
|
DIN No.: |
00452189 |
|
|
|
|
Name : |
Mr. Anit Kunjkumar Shah |
|
Designation : |
Director |
|
Address : |
C-63,
Century Tower, Opposite Samkit Bunglow, Bodakdev, Ahmedabad – 380 054,
Gujarat, India |
|
Date of Birth/Age : |
10.06.1969 |
|
Date of Appointment : |
01.12.2008 |
|
DIN No.: |
02456211 |
|
|
|
|
Name : |
Mr. Abhishek Mohinder Kapoor |
|
Designation : |
Director |
|
Address : |
B-51,
Akash Flate, Bodakdev, Near Judges Bunglow, Premchandnagar Road, Vastrapur,
Ahmedabad – 380 054, Gujarat, India |
|
Date of Birth/Age : |
12.08.1983 |
|
Date of Appointment : |
28.08.2012 |
|
DIN No.: |
03409541 |
|
|
|
|
Name : |
Mr. Ashok Nandlal Hingorani |
|
Designation : |
Director |
|
Address : |
B-901,
Agrawal Apartment, B/H Madhur Hall, Near Anandnagar Char Rasta, Satellite,
Ahmedabad – 380 015, Gujarat, India |
|
Date of Birth/Age : |
19.10.1959 |
|
Date of Appointment : |
01.01.2008 |
|
DIN No.: |
02001510 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Shashi
K. Kapoor |
|
162170 |
|
Ravi
K. Kapoor |
|
170500 |
|
Saroj
M. Kapoor |
|
244850 |
|
Vimmi
S. Kapoor |
|
200530 |
|
Anil
K. Kapoor |
|
128940 |
|
Chand
K. Kapoor |
|
192000 |
|
Sunita
R. Kapoor |
|
58000 |
|
Roma
A. Kapoor |
|
170900 |
|
Ashok
N. Hingorani |
|
35300 |
|
Anit
K. Shah |
|
127750 |
|
Kiran
A. Hingorani |
|
18430 |
|
Lopa
A. Shah |
|
62520 |
|
Payal
R.Kapoor |
|
94300 |
|
Khushboo
R Kapoor |
|
68200 |
|
Vivek
Kapoor |
|
77500 |
|
Aditi
Kapoor |
|
30100 |
|
Abhishek
Kapoor |
|
92050 |
|
Vaishali
Kapoor |
|
24000 |
|
Aanchal
Kapoor |
|
28300 |
|
Akshay
Anil Kapoor |
|
13660 |
|
Total |
|
2000000 |
AS ON 25.09.2014
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 manufacturing natural food ingredients and additives. |
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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 : |
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 : |
·
Corporation Bank, Rangoli Complex, Opposite
V.S. Hospital, Ellisbridge, Ahmedabad – 380 006, Gujarat, India ·
Kotak Mahindra Bank Limited ·
ICICI Bank Limited ·
Axis Bank Limited ·
HDFC Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institutions : |
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Auditors : |
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|
Name : |
Baheti Bhadada and Associates Chartered Accountants |
|
Address : |
201, Shailey Complex, Near Old Gujarat High Court, Ashram Road, Ahmedabad – 380 009, Gujarat, India |
|
E-Mail : |
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PAN
No.: |
AAEFB4057B |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries, Fellow Subsidiaries and Associates : |
Aarkay Ingredients RUS
LLC |
CAPITAL STRUCTURE
AS ON 25.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 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 |
20.000 |
20.000 |
15.000 |
|
(b) Reserves & Surplus |
23.555 |
20.942 |
19.486 |
|
(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) |
43.555 |
40.942 |
34.486 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
56.733 |
48.335 |
18.674 |
|
(b) Deferred tax liabilities (Net) |
7.257 |
6.602 |
5.732 |
|
(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) |
63.990 |
54.937 |
24.406 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
32.343 |
26.470 |
19.849 |
|
(b) Trade
payables |
29.322 |
24.886 |
14.496 |
|
(c) Other
current liabilities |
14.913 |
8.199 |
3.553 |
|
(d) Short-term
provisions |
2.649 |
3.543 |
4.869 |
|
Total Current
Liabilities (4) |
79.227 |
63.098 |
42.767 |
|
|
|
|
|
|
TOTAL |
186.772 |
158.977 |
101.659 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
105.247 |
91.462 |
53.965 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.038 |
0.020 |
0.076 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.917 |
0.889 |
0.838 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
106.202 |
92.371 |
54.879 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.030 |
0.030 |
0.030 |
|
(b)
Inventories |
34.568 |
24.647 |
24.820 |
|
(c) Trade
receivables |
21.337 |
22.697 |
18.230 |
|
(d) Cash
and cash equivalents |
2.112 |
4.051 |
1.210 |
|
(e) Short-term
loans and advances |
3.470 |
15.083 |
2.381 |
|
(f) Other
current assets |
19.053 |
0.098 |
0.109 |
|
Total
Current Assets |
80.570 |
66.606 |
46.780 |
|
|
|
|
|
|
TOTAL |
186.772 |
158.977 |
101.659 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
192.608 |
195.752 |
157.122 |
|
|
|
Other Income |
0.113 |
0.044 |
0.029 |
|
|
|
TOTAL |
192.721 |
195.796 |
157.151 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
136.660 |
133.209 |
109.155 |
|
|
|
Changes in inventories |
(10.533) |
(0.165) |
(1.007) |
|
|
|
Employee Benefit Expense |
22.969 |
21.435 |
15.897 |
|
|
|
Other Expenses |
29.168 |
29.148 |
20.633 |
|
|
|
TOTAL |
178.264 |
183.627 |
144.678 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
14.457 |
12.169 |
12.473 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
5.282 |
2.986 |
4.229 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
9.175 |
9.183 |
8.244 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
5.138 |
4.470 |
3.630 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
4.037 |
4.713 |
4.614 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.424 |
1.397 |
2.558 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
2.613 |
3.316 |
2.056 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
2.341 |
1.885 |
3.220 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend & Dividend Tax Payable |
0.000 |
1.860 |
2.391 |
|
|
|
Transfer to General Reserve |
0.000 |
1.000 |
1.000 |
|
|
BALANCE CARRIED
TO THE B/S |
4.954 |
2.341 |
1.885 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
34.867 |
34.313 |
17.684 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.31 |
1.81 |
1.64 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
1.36 |
1.69 |
1.31 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Sales) |
(%) |
7.51 |
6.22 |
7.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.16 |
2.96 |
4.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.12 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.05 |
1.83 |
1.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02 |
1.06 |
1.09 |
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 |
15.000 |
20.000 |
20.000 |
|
Reserves & Surplus |
19.486 |
20.942 |
23.555 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
34.486 |
40.942 |
43.555 |
|
|
|
|
|
|
Long Term borrowings |
18.674 |
48.335 |
56.733 |
|
Short Term borrowings |
19.849 |
26.470 |
32.343 |
|
Total borrowings |
38.523 |
74.805 |
89.076 |
|
Debt/Equity ratio |
1.117 |
1.827 |
2.045 |
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 |
157.122 |
195.752 |
192.608 |
|
|
|
24.586 |
(1.606) |
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 |
157.122 |
195.752 |
192.608 |
|
Profit |
2.056 |
3.316 |
2.613 |
|
|
1.31% |
1.69% |
1.36% |
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 |
Yes |
|
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE:
The registered address of the company has been shifted from 35, IIIrd Floor,
City Centre, Near Swastik Char Rasta, Navrangpura, Ahmedabad – 380 009, Gujarat
to the present address w.e.f. 22.01.2013.
PERFORMANCE REVIEW:
During the year, the Gross
Receipts of company has decreased from Rs.195.726
million to Rs.192.721 million showing
a decrease of 1.54%. Looking to the international market scenario the decrease
is justified. During the year the directors had opened a 100% subsidiary
company in Russia, but the market of Russia has not given the better result and
after one year working directors have decided to wind up the said company. The
Company has incurred losses of about Rs.1.400 million. The directors are expecting a very good sale during
current financial year.
EXPANSIONS AND
DIVERSIFICATIONS:
During the year company has
carried on new machinery which will bush the sale in current financial year.
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans
and Advances From Related Parties |
5.948 |
3.482 |
|
Loans
from Directors |
5.961 |
3.218 |
|
Advance
Against sale of old office |
2.111 |
0.311 |
|
Other
Loans and Advances |
1.938 |
0.263 |
|
Total |
15.958 |
7.274 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10410181 |
11/03/2013 |
6,180,000.00 |
RELIANCE CAPITAL LIMITED |
AASHIL CONSTRUCTION, NEAR
MITHAKHALI SIX ROAD, NAVRANGPURA, AHMEDABAD LOCAL, GUJARAT - 380009, INDIA |
B70219514 |
|
2 |
10409541 |
11/02/2013 |
475,000.00 |
AXIS BANK LIMITED |
RAC AHMEDABAD, CV/ CE
DEPARTMENT, 4TH FLOOR, SHIVALIK ISHAN, NEAR C. N. VIDHYALAYA, AMBAWADI, AHMEDABAD,
GUJARAT - 380006, INDIA |
B69986214 |
|
3 |
80027180 |
14/10/2013 * |
51,269,000.00 |
CORPORATION BANK |
INDUSTRIAL FINANCE
BRANCH, RANGOLI COMPLEX, OPPOSITE V. S. HOSPITAL, ELLISBRIDGE, AHMEDABAD,
GUJARAT - 380006, INDIA |
B88718440 |
|
4 |
80027181 |
14/10/2013 * |
51,269,000.00 |
COPORATION BANK |
RANGOLI COMPLEX, OPPOSITE
V.S. HOSPITAL, ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
B88718986 |
* Date of charge modification
FIXED ASSETS
·
Air Conditioner
·
Computer (New)
·
Electric Equipments
·
Electric Fittings
·
EPABX System
·
Factory Building
·
Factory Land
·
Fan
·
Fire Fighter
Equipments
·
Furniture
·
Laboratory Equipments
·
Microwave Oven
·
Motor Car
·
Office Building
·
Office Building ‐ Titanium Square
·
Pick-up Van
·
Plant and Machinery
·
Plastic Carats
·
R. O. System
·
Refrigerator
·
Telephone Instruments
·
Scooter
·
TV and DVD Player
·
Water Cooler
·
CC TV (Camera System)
4
·
Fingerprints System
·
Plattes
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 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 : |
NYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
-- PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
17 |
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.