MIRA
INFORM REPORT
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Report No. : |
335423 |
|
Report Date : |
06.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
PULKIT METALS PRIVATE LIMITED |
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Registered
Office : |
No. 163/1, Prakasam Salai, 1st Floor, K. Sons Complex,
Broadway, Chennai – 600108, Tamilnadu |
|
Tel. No.: |
91-44-25249501 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
26.05.2010 |
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Com. Reg. No.: |
075829 |
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Capital
Investment / Paid-up Capital : |
Rs.28.078 Million |
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CIN No.: [Company Identification
No.] |
U27320TN2010PTC075829 |
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IEC No.: |
2502000793 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAFCP5001J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The company is engaged in the business of manufacturing of Steel Long Products such as TMT Bars, Cold Twisted bars and Rounds and Structural Products. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. For the financial year ended 2014, sales turnover of the company has
declined which has resulted into dip in profit of the company. However, rating takes into consideration extensive experience of its
promoter in the steel industry supported by sound financial base and moderate
debt protection metrics of the company. Trade relations are fair. Business is active. Payment terms are reported
to be slow but correct. The company can be considered 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.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 : BB |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
27.01.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
27.01.2015 |
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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Sunil Prasad |
|
Designation : |
Accountant |
|
Contact No.: |
91-44-25249501 |
|
Date : |
05.08.2015 |
LOCATIONS
|
Registered Office : |
No. 163/1, Prakasam Salai, 1st Floor, K. Sons Complex,
Broadway, Chennai – 600108, Tamilnadu , India |
|
Tel. No.: |
91-44-25249501 / 2524 9504 |
|
Fax No.: |
91-44-25249500 |
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E-Mail : |
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|
Website : |
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Location : |
Rented [Commercial] |
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|
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Branch Office : |
166/1, K. Sons Complex, Prakasam Salai, Broadway, Chennai-600108, Tamilnadu , India |
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|
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Marketing Office / Factory: |
R.S. No. 95/2-3-4, Eripakkam Village, Netapakkam Commune, Pondicherry-605106, India |
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Tel. No.: |
91-413-2699844/ 45 / 2698994 / 95 |
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Fax No.: |
91-413-2698992 |
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Location : |
Owned [Commercial] |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Vinod Garg |
|
Designation : |
Director |
|
Address : |
Surya Kunj, New No.20/58, Montieth Road, Egmore, Chennai - 600008, Tamilnadu, India |
|
Date of Birth/Age : |
18.08.1961 |
|
Date of Appointment : |
26.05.2010 |
|
|
|
|
Name : |
Sangita Garg |
|
Designation : |
Director |
|
Address : |
Surya Kunj, New No.20/58, Montieth Road, Egmore, Chennai - 600008, Tamilnadu, India |
|
Date of Birth/Age : |
12.03.196 |
|
Date of Appointment : |
26.05.2010 |
|
DIN No.: |
01759811 |
|
|
|
|
Name : |
Raajesh Goyel |
|
Designation : |
Director |
|
Address : |
No.51,52 Manakula Vinayagar Street,, Kailash Nagar, Lawspet, Puducherry - 605008, India |
|
Date of Birth/Age : |
30.10.1954 |
|
Date of Appointment : |
25.06.2012 |
|
DIN No.: |
05278069 |
KEY EXECUTIVES
|
Name : |
Mr. Sunil Prasad |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Vinod Garg |
2713139 |
96.63 |
|
Sangita Garg |
5000 |
0.18 |
|
Vedas Impex Limited, India |
89620 |
3.19 |
|
Total |
2807759 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
3.19 |
|
Directors or relatives of Directors |
96.81 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of manufacturing of Steel Long Products such as TMT Bars, Cold Twisted bars and Rounds and Structural Products. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
TMT Steel Bars |
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Countries : |
Singapore |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Singapore |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End users
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
R. Krishna Kumar and Associates Chartered Accountants |
|
Address : |
No.1/2, Sadayappa Street, Saidapet, Chennai – 600015, Tamilnadu, India |
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PAN No.: |
AHKPK4391K |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates: |
· V.K. Steel Enterprises · Pulkit iron and steel · Pushpit Steel Private Limited · Pulkit Bio Fuels · Garg Iron and Energyy Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,500,000 |
Equity Shares |
Rs.10/- each |
Rs.35.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,500,000 |
Equity Shares |
Rs.10/- each |
Rs.28.078 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
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|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
28.078 |
28.078 |
28.078 |
|
(b) Reserves &
Surplus |
319.132 |
305.943 |
297.886 |
|
(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) |
347.210 |
334.021 |
325.964 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
251.710 |
146.284 |
93.651 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
251.710 |
146.284 |
93.651 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
516.271 |
632.945 |
193.882 |
|
(b) Trade payables |
1270.989 |
1248.973 |
848.441 |
|
(c) Other current
liabilities |
17.463 |
14.441 |
211.283 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
1804.723 |
1896.359 |
1253.606 |
|
|
|
|
|
|
TOTAL |
2403.643 |
2376.664 |
1673.221 |
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II.
ASSETS |
|
|
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|
(1) Non-current assets |
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|
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(a) Fixed Assets |
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|
|
(i) Tangible assets |
107.066 |
107.654 |
92.694 |
|
(ii) Intangible Assets |
77.319 |
77.319 |
77.319 |
|
(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 |
7.809 |
7.809 |
7.809 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
149.368 |
198.765 |
166.249 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
341.562 |
391.547 |
344.071 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
379.263 |
541.228 |
222.130 |
|
(c) Trade receivables |
1562.258 |
1280.785 |
1082.857 |
|
(d) Cash and cash equivalents |
2.571 |
5.612 |
15.687 |
|
(e) Short-term loans and
advances |
104.933 |
149.336 |
2.448 |
|
(f) Other current assets |
13.056 |
8.156 |
6.028 |
|
Total Current Assets |
2062.081 |
1985.117 |
1329.150 |
|
|
|
|
|
|
TOTAL |
2403.643 |
2376.664 |
1673.221 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
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|
TURNOVER |
2811.900 |
2537.600 |
2463.474 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
(Including Finance
Expenses) |
2470.304 |
2395.395 |
|
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|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
|
67.296 |
68.079 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
|
38.089 |
42.819 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
31.088 |
29.207 |
25.260 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
17.899 |
16.203 |
15.020 |
|
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|
|
PROFIT/ (LOSS) BEFORE TAX |
13.189 |
13.004 |
10.240 |
|
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|
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|
Less |
TAX |
0.000 |
4.947 |
0.000 |
|
|
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|
PROFIT/ (LOSS) AFTER TAX
|
13.189 |
8.057 |
10.240 |
|
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|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
18.297 |
10.240 |
0.000 |
|
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|
BALANCE CARRIED TO THE
B/S |
31.486 |
18.297 |
10.240 |
|
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|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
3.77 |
2.30 |
-- |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
(405.207) |
NA |
|
Net cash flows from (used in) operations |
13.189 |
13.004 |
NA |
|
Net cash flows from (used in) operating activities |
13.189 |
13.004 |
(410.155) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.47 |
0.32 |
0.42 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
NA |
2.65 |
2.76 |
|
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|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.55 |
0.55 |
0.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.04 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.21 |
2.33 |
0.88 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14 |
1.05 |
1.06 |
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 |
28.078 |
28.078 |
28.078 |
|
Reserves & Surplus |
297.886 |
305.943 |
319.132 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
325.964 |
334.021 |
347.210 |
|
|
|
|
|
|
long-term borrowings |
93.651 |
146.284 |
251.710 |
|
Short term borrowings |
193.882 |
632.945 |
516.271 |
|
Total borrowings |
287.533 |
779.229 |
767.981 |
|
Debt/Equity ratio |
0.882 |
2.333 |
2.212 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
2463.474 |
2537.600 |
2811.900 |
|
|
|
3.009 |
10.809 |
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 |
2463.474 |
2537.600 |
2811.900 |
|
Profit |
10.240 |
8.057 |
13.189 |
|
|
0.42% |
0.32% |
0.47% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
----- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from others |
246.858 |
145.517 |
|
Total |
246.858 |
145.517 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10362825 |
11/06/2012 |
650,000,000.00 |
INDIAN OVERSEAS BANK |
PURASAWALKKAM BRANCH, 15 HUNTERS ROAD, CHENNAI, T |
B42540195 |
OPERATIONS
The performance of the Company for the year has been satisfactory in comparison to market situations. The Company has achieved a turnover of Rs.2811.900 Million (Previous year Rs.2537.600 Million).
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Plant and Machinery
· Furniture and fixtures
· Office equipment
· Computer equipments
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.63.82 |
|
|
1 |
Rs.99.15 |
|
Euro |
1 |
Rs.69.31 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
42 |
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.