MIRA INFORM REPORT
|
Report No. : |
318767 |
|
Report Date : |
28.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
GALAXY
SURFACTANTS LIMITED (w.e.f 13.03.2005) |
|
|
|
|
Formerly Known
as: |
GALAXY SURFACTANTA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-49/2, TTC
Industrial Area, Pawane, Navi Mumbai - 400 703, Maharashtra |
|
Tel No : |
91-22-65134444 / 27616666 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 (Profit and Loss) |
|
|
|
|
Date of
Incorporation : |
20.05.1986 |
|
|
|
|
Com. Reg. No.: |
11-039877 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 354.547 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U39877MH1986PLC039877 |
|
|
|
|
IEC No.: |
0388162040 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG00044C MUMG00440G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG1539PFT001 |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacture and Importer of Surfactants and Specialty chemicals |
|
|
|
|
No. of Employees
: |
1500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Exist |
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|
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Comments : |
Subject is an established company having fine track. The company’s products are well received in the market. The rating
reflects company’s established position in the home and personal care
intermediates market. The company has achieved significant increase in its profit margin
during FY 2014. As per available balance sheet of 2013, the company has fair liquidity
position backed by favorable gap between trade receivables and payables. Trade relations are fair. Business is active. Payment terms are reported
to be regular and as per commitments. In the view of experienced promoters and management, subject can be
considered normal for 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
23.12.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
23.12.2014 |
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 (GENERAL DETAIL)
|
Name : |
Mr. Anand Gurav |
|
Designation : |
Finance Head |
|
Contact No.: |
91-22-65134444 |
|
Date : |
21.04.2015 |
LOCATIONS
|
Registered Office : |
C-49/2, TTC
Industrial Area, Pawane, Navi Mumbai - 400 703, Maharashtra, India |
|
Tel. No.: |
91-22-27616666 /
65134444 |
|
Fax No.: |
91-22-27615883 /
27615886 /27686523 |
|
E-Mail : |
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|
Website : |
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Area : |
|
|
Factory 1 : |
W-67 (B), MIDC, Tarapur,
Post Boisar – 401 506, Thane, |
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|
|
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Factory 2 : |
M-3, MIDC,
Tarapur, Post Boisar – 401 506, Thane, |
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Factory 3 : |
W-44(C), MIDC,
Tarapur, Post Boisar – 401 506, Thane, |
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Factory 4 : |
G - 59, MIDC,
Tarapur, Post Boisar – 401 506, Thane, |
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Factory 5 : |
N-46/1 and 2,
MIDC, Tarapur, Post Boisar – 401 506, Thane, Maharashtra, India |
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Factory 6 : |
V-23, MIDC, Taloja,
Panvel - 410 208, District Raigad, |
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Factory 7 : |
Plot No. 1, Village Chal, CIBCO, Near M.I.D.C. Taloja, Panvel,
District Raigad-410 208, Maharashtra, India |
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|
|
|
Branch Office : |
Gate No. 6, C-40,
Phase –11, Okhla Industrial Area, New Delhi – 110 020, India |
|
Tel. No.: |
91-11-26914581 /
26916632 / 26916636 |
|
Fax No.: |
91-11-26914581 |
|
E-mail : |
DIRECTORS
As on : 19.09.2014
|
Name : |
Mr. Shekhar Unnathan Vaidyanathan |
|
Designation : |
Managing Director
|
|
Address : |
Saradha Niwas,
Plot No 53, Sector 28, Vashi, Navi Mumbai – 400703, |
|
Date of Birth/Age : |
18.02.1954 |
|
Qualification : |
B. Chemical
Engineer |
|
Date of Appointment : |
01.04.2013 |
|
DIN No.: |
00265017 |
|
|
|
|
Name : |
Mr. Gopalkrishnan
Ramakrishnan |
|
Designation : |
Whole Time
Director |
|
Address : |
Raaj, Plot No. 51,
Sector 28, Vashi, Navi Mumbai – 400703, |
|
Date of Birth/Age : |
26.05.1954 |
|
Qualification : |
M. Com, FCA,
F.I.C.W.A., A.C.S. |
|
Date of Appointment : |
01.04.2013 |
|
PAN No.: |
AADPG0514G |
|
DIN No.: |
00264760 |
|
|
|
|
Name : |
Mr. Shashikant
Rayappa Shanbhag |
|
Designation : |
Whole Time
Director |
|
Address : |
501, Tirupati,
Plot No. 32, Sector 19, Nerul, Navi Mumbai – 400706, |
|
Date of Birth/Age : |
25.01.1954 |
|
Qualification : |
B. Com, A.C.A,
C.W.A. |
|
Date of Appointment : |
01.04.2013 |
|
PAN No.: |
AAFPS8326N |
|
DIN No.: |
00265103 |
|
|
|
|
Name : |
Mr. Sudhir
Dattaram Patil |
|
Designation : |
Director |
|
Address : |
Sumati, Plot No. 4-B,
Nandeep Co-op Hsg Society, Goregaon East, Mumbai – 400063, Maharashtra, India
|
|
Date of Birth/Age : |
05.09.1954 |
|
Qualification : |
B. Chemical
Engineer |
|
Date of Appointment : |
01.10.2006 |
|
DIN No.: |
00264933 |
|
PAN No.: |
AACPP2054M |
|
|
|
|
Name : |
Mr. Uday Krishna Kamat |
|
Designation : |
Whole Time
Director |
|
Address : |
Flat No. 133, Building No. 1B Godavari, Kalpataru Riverside, Oppo
Panchmukhi Mandir, Panvel, Navi Mumbai – 410206, Maharashtra, India |
|
Date of Birth/Age : |
14.05.1954 |
|
Date of Appointment : |
19.09.2014 |
|
DIN No.: |
00226886 |
|
PAN No.: |
AABPK5654P |
|
|
|
|
Name : |
Mr. Subodh
Satchitanand Nadkarni |
|
Designation : |
Director |
|
Address : |
D-32, Mangireesh,
520, |
|
Date of Birth/Age : |
02.04.1956 |
|
Date of Appointment : |
19.09.2014 |
|
DIN No.: |
00145999 |
|
|
|
|
Name : |
Mr. Venkatesh Kasturirangan |
|
Designation : |
Director |
|
Address : |
359, Frogtown
Road, New Canaan, Connecticut U.S.A 068404409, Foreign |
|
Date of Birth/Age : |
18.04.1947 |
|
Date of Appointment : |
24.09.2005 |
|
DIN No.: |
00804869 |
|
|
|
|
Name : |
Mr. Melarkode Gganesan Parameswaran |
|
Designation : |
Director |
|
Address : |
62-A, Technocrat Co-Operative
Housing Society, Veer Savarkar Marg, Prabhadevi, Mumbai – 400025, |
|
Date of Birth/Age : |
18.06.1955 |
|
Date of Appointment : |
19.09.2014 |
|
DIN No.: |
00792123 |
|
|
|
|
Name : |
Mr. Ravi Venkateswar |
|
Designation : |
Whole time
Director |
|
Address : |
1201, Floor 12,
Terra Planet Godrej, Keshavrao Khadye Marg, Saatrasta, Jacob Circle, Mumbai –
400011, Maharashtra, India |
|
Date of Birth/Age : |
06.05.1961 |
|
Date of Appointment : |
19.09.2014 |
|
DIN No.: |
00242672 |
|
|
|
|
Name : |
Mr. Ravindranath
Shekar Warriar |
|
Designation : |
Chairman cum
Managing Director |
|
Address : |
Planet Godrej,
Tower 3, Floor 30, Keshavrao Khadye Marg, Near Jacob Circle, Mumbai,
Maharashtra, India |
|
Date of Birth/Age : |
20.04.1947 |
|
Date of Appointment : |
19.09.2014 |
|
DIN No.: |
00011680 |
KEY EXECUTIVES
|
Name : |
Mr. Anand Gurav |
|
Designation : |
Finance Head |
|
|
|
|
Name : |
Mr. Ganesh Madhav Kamath |
|
Designation : |
Company Sectretary |
|
Address : |
B – 103, Sai Mandir, S.V. Road, Dahisar (East), Mumbai – 400068,
Maharashtra, India |
|
Date of Birth : |
07.10.1957 |
|
Date of Appointment : |
10.09.2004 |
|
PAN No. : |
AADPK8335M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 19.09.2014
SHAREHOLDERS FILE ATTACHED
As on : 19.09.2014
Equity Share Break up (Percentage of Total Equity)
|
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 |
6.51 |
|
Bodies corporate |
1.71 |
|
Directors or relatives of Directors |
74.26 |
|
Other top fifty shareholders |
8.63 |
|
Others |
8.89 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and Importer of Surfactants and Specialty chemicals |
|
|
|
|
Products : |
Surfactants and Specialty chemicals |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
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|
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Exports : |
Not Divulged |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit (30,60,90 Days) |
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|
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Purchasing : |
Cash and Credit (30,60,90 Days) |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users and OEMs
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No. of Employees : |
1500 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
P.D. Kunte and Company Chartered Accountants |
|
Address : |
205, Turf Estate, Shakti Mill Lane, off Dr. E. Moses Road,
Mumbai, Maharashtra, India |
|
PAN No.: |
AAAFP3277G |
|
|
|
|
Financial Institution (31.03.2013) : |
SBICAP Trustee Company Limited, 202, Maker Tower, ‘E’ Cuffe Parade,
Colaba, Mumbai-400005, Maharashtra, India |
|
|
|
|
Direct Subsidiaries (31.03.2013) : |
|
|
|
|
|
Step down
Subsidiaries : |
· Galaxy Chemicals (Egypt) S.A.E |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on : 19.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35454752 |
Equity Shares |
Rs.10/- each |
Rs.354.547
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
354.500 |
354.500 |
|
(b) Reserves & Surplus |
|
2272.700 |
1971.400 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
2627.200 |
2325.900 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1382.900 |
1367.100 |
|
(b) Deferred tax liabilities
(Net) |
|
227.100 |
196.700 |
|
(c) Other long term
liabilities |
|
12.000 |
6.200 |
|
(d) long-term provisions |
|
51.200 |
52.200 |
|
Total
Non-current Liabilities (3) |
|
1673.200 |
1622.200 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
1161.700 |
1258.000 |
|
(b) Trade payables |
|
1675.400 |
2092.900 |
|
(c) Other current liabilities |
|
1015.100 |
646.000 |
|
(d) Short-term provisions |
|
65.400 |
158.200 |
|
Total
Current Liabilities (4) |
|
3917.600 |
4155.100 |
|
|
|
|
|
|
TOTAL |
|
8218.000 |
8103.200 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
2874.300 |
2584.000 |
|
(ii) Intangible Assets |
|
16.700 |
18.700 |
|
(iii) Capital work-in-progress |
|
28.000 |
383.600 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1197.600 |
926.100 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
130.200 |
122.300 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
4246.800 |
4034.700 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
1298.400 |
1659.000 |
|
(c) Trade receivables |
|
1845.900 |
1755.500 |
|
(d) Cash and cash equivalents |
|
88.000 |
14.500 |
|
(e) Short-term loans and
advances |
|
721.900 |
632.400 |
|
(f) Other current assets |
|
17.000 |
7.100 |
|
Total
Current Assets |
|
3971.200 |
4068.500 |
|
|
|
|
|
|
TOTAL |
|
8218.000 |
8103.200 |
Balance sheet for the year 2014 is not available only Profit and Loss
Statement available
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
14279.100 |
14180.000 |
13151.700 |
|
|
Other Income |
77.900 |
53.400 |
26.800 |
|
|
TOTAL
(A) |
14357.000 |
14233.400 |
13178.500 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
10416.700 |
10560.200 |
10360.700 |
|
|
Purchases of Stock-in-Trade |
70.800 |
24.500 |
62.500 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(177.000) |
281.500 |
(210.000) |
|
|
Employees benefits expense |
521.500 |
497.700 |
403.800 |
|
|
Other expenses |
1542.600 |
1547.300 |
1347.000 |
|
|
TOTAL
(B) |
12374.600 |
12911.200 |
11964.000 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
1982.400 |
1322.200 |
1214.500 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
356.700 |
483.500 |
331.300 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1625.700 |
838.700 |
883.200 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
333.300 |
328.100 |
243.100 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
1292.400 |
510.600 |
640.100 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
458.100 |
167.800 |
203.700 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
834.300 |
342.800 |
436.400 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
7913.000 |
7889.600 |
7386.000 |
|
|
Gurantee Commission |
10.700 |
9.700 |
5.300 |
|
|
Interest |
24.200 |
17.100 |
3.500 |
|
|
TOTAL
EARNINGS |
7947.900 |
7916.400 |
7394.800 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
5730.100 |
5751.500 |
4748.600 |
|
|
Components and Stores parts |
2.500 |
6.900 |
3.900 |
|
|
Traded goods |
50.900 |
20.300 |
53.500 |
|
|
Capital Goods |
9.700 |
26.900 |
26.900 |
|
|
TOTAL
IMPORTS |
5793.200 |
5805.600 |
4832.900 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
23.53 |
9.67 |
12.31 |
Expected Sales (2014-15) : Rs. 1500.000 Million
The above information has been parted by Mr. Anand Gurav
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
|
|
|
|
|
Net Profit Margin (PAT/Sales) |
(%) |
5.84 |
2.42 |
3.32 |
|
|
|
|
|
|
|
Operating Profit Margin (PBITD/Sales) |
(%) |
13.88 |
9.32 |
9.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
7.30 |
9.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.19 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
NA |
0.97 |
1.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA |
1.01 |
0.98 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
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 |
13178.500 |
14233.400 |
14357.000 |
|
|
|
8.005 |
0.868 |
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 |
13178.500 |
14233.400 |
14357.000 |
|
Profit |
436.400 |
342.800 |
834.300 |
|
|
3.31% |
2.41% |
5.81% |
CURRENT MATURITIES OF
LONG TERM DEBT = NOT AVAILABLE
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 |
----------- |
|
13] |
Reasons for variation
<> 20% |
Yes |
|
14] |
Estimation for coming
financial year |
Yes |
|
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 |
Yes |
|
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 |
No |
|
34] |
External Agency Rating,
if available |
Yes |
|
Presentation
Date : 17.02.2015 |
||||||||
|
Lodging No. ITXAL/213/2015
Filling Date : 17.02.2015
Bench : DIVISION Status : Pre – Admission Last Date : 24.02.2015 Last Coram: REGISTRAR (OS)/PROTHONOTARY AND ASR. MASTER
|
||||||||
|
|
CORPORATE INFORMATION:
Galaxy Surfactants Limited ("the Company") is a Public Limited Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is engaged in manufacturing and marketing surfactants and specialty chemicals for the Personal and Home Care Industry. The Company produces a range of vital cosmetic ingredients including active ingredients, UV protection and functional products. The Company’s products cater to some of the largest global brands in the FMCG sector and find applications in skin care, hair care, oral care, body wash, sun care, household cleaners and fabric care segments.
ECONOMIC OUTLOOK AND
BUSINESS PERFORMANCE:
During the fiscal year 2013, the economic environment remained
challenging with growth slowing down globally. India was impacted by both
global and domestic events that led to moderation in economic activity. India
gross domestic product (GDP) declined to 5.0% during fiscal 2013 compared to
6.2% in fiscal 2012. Europe experienced recession, fiscal tightening, sluggish
growth and high unemployment. In USA, the economic revival was marginal. China
too for the first time, experienced considerably slower growth. Deceleration in
industrial output, fiscal deficit and exports weakened India’s economic growth significantly.
The weak macro environment, slower growth and volatility in currency and
commodities market caused significant pressure on the margins of the Company
slower
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Deferred payment liability |
|
43.600 |
|
Deposit from others |
|
269.400 |
|
SHORT TERM
BORROWING |
|
|
|
Other loan and Advances |
|
0.100 |
|
Total |
|
313.100 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10362400 |
05/08/2013 * |
7,855,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE,, COLABA,, MU |
B85524148 |
* Date of charge modification
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.63.33 |
|
|
1 |
Rs.96.51 |
|
Euro |
1 |
Rs.68.92 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRP |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
50 |
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.