MIRA INFORM REPORT
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Report No. : |
336777 |
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Report Date : |
14.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
MWV INDIA PAPERBOARD PACKAGING PRIVATE LIMITED (w.e.f. 28.08.2014) |
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Formerly Known
As : |
MWV INDIA PAPERBOARD PACKAGING LIMITED (w.e.f. 18.08.2014) RUBY MACONS LIMITED |
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Registered
Office : |
203/204, Angelina Apartments,
Saroj Road, Vile Parle (West), Mumbai – 400056, Maharashtra |
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Tel. No.: |
91-22-26186771 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
08.05.1986 |
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Com. Reg. No.: |
11-039768 |
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Capital
Investment / Paid-up Capital : |
Rs. 43.004 Million |
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CIN No.: [Company Identification
No.] |
U28920MH1986PTC039768 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACR1939A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Kraft Papers, Paper Boards and
Supplier of paper and pulp making machineries and their parts. |
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No. of Employees
: |
Information declined by the management
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RATING & COMMENTS
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MIRA’s Rating : |
Ba (43) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
-- (Court Site not Working) |
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Comments : |
MWV India Paperboard Packaging Private Limited operates as a subsidiary of "MWV India Private Limited", its holding company is MWV Netherlands BV, NETHERLANDS. It is well established company having satisfactory track record. The rating on company reflects healthy operating and financial risk profile, decent capital structure and moderate debt protection metrics. Rating further take into accounts on strong financial and managerial support received from its holding company. However, the rating is constrained oil company incurred loss from its operation during the years under review and volatility of prices fluctuation into paper industry. Trade relations are reported fair. Business is active. Payments terms are reported to be slow but correct. In view of strong support from its ultimate holding company, the company can be considered for normal business dealing with its usual trade terms and conditions. Note:- In terms of the Scheme of Arrangement (the Scheme), MWV Wadco India Private Limited has been merged with Ruby Macons Limited. The Scheme filed by the company has been approved by the Honourable Bombay High Court with an appointed date of 1st April, 2013 and an effective date of 3rd September, 2014 (the Effective Date), being the date on which all the requirements under the Companies Act, 1956 have been completed. |
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 |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
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Date |
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
31-03-2013.
INFORMATION DECLINED
MANAGEMENT NON CO-OPERATIVE (91-260-3050000)
LOCATIONS
|
Registered Office : |
203/204, Angelina Apartments, Saroj
Road, Vile Parle (West), Mumbai – 400056,
Maharashtra, India |
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Tel. No.: |
91-22-26186771 |
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Fax No.: |
Not Available |
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E-Mail : |
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Factory 1 : |
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DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Sandip Ganesh Kulkarni |
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Designation : |
Director |
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Address : |
31, Aashirwad, Prashant Nagar, Patharti Phata, Opposite
Taj Residency, Agra Road, Nashik - 422010, Maharashtra, India |
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Date of Birth/Age : |
09.05.1976 |
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Date of Appointment : |
30.09.2014 |
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DIN No. : |
05172491 |
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Name : |
Mr. Piyush Ranjan |
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Designation : |
Director |
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Address : |
I-202, Crescent - I, Thewoods, Near Fountain In, Kalewadi
Phata, Wakad, Pune - 411027, Maharashtra, India |
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Date of Birth/Age : |
06.12.1971 |
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Date of Appointment : |
30.11.2012 |
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DIN No. : |
02773879 |
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Name : |
Mr. Peter Christian Durette |
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Designation : |
Director |
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Address : |
319, Wickham Glen Drive, Richmond Va, 232386161, United States
of America |
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Date of Birth/Age : |
21.05.1973 |
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Date of Appointment : |
30.11.2012 |
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DIN No. : |
06393740 |
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Name : |
Mr. Naveen Ganzu |
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Designation : |
Additional director |
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Address : |
No. 17B, Binny Crescent, No. 16, Benson Cross Road, Benson
Town, Bangalore - 560046, Karnataka, India |
|
Date of Appointment : |
12.03.2015 |
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DIN No. : |
00094595 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Meadwestvaco Holdings BV Netherlands |
|
1 |
|
Meadwestvaco Nethrlands BV |
|
4300439 |
|
Total |
|
4300440 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
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 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Kraft Papers, Paper Boards and
Supplier of paper and pulp making machineries and their parts. |
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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 : |
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 : |
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Facilities : |
(Rs.
In Million)
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
Deloitte, 12, Dr A B Road, Opposite Shiv Sagar Estate, Worli, Mumbai – 400067, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABFD7919A |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Ultimate Holding
Company: |
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Holding Company: |
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Fellow
Subsidiaries: |
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Other related
party: |
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CAPITAL STRUCTURE
AFTER 30.09.2014
Authorised Capital : Rs. 385.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 45.122
Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
38500000 |
Equity Shares |
Rs.10/- each |
Rs. 385.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
4300440 |
Equity Shares |
Rs.10/- each |
Rs. 43.004
Million |
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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 |
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|
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(1)Shareholders' Funds |
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|
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(a) Share Capital |
43.004 |
33.318 |
33.318 |
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(b) Reserves & Surplus |
1882.309 |
1778.649 |
1471.776 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
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(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
1925.313 |
1811.967 |
1505.094 |
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(3) Non-Current Liabilities |
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|
|
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(a) long-term borrowings |
512.249 |
0.000 |
30.000 |
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(b) Deferred tax liabilities
(Net) |
219.145 |
286.955 |
286.076 |
|
(c) Other long term
liabilities |
0.979 |
8.880 |
0.000 |
|
(d) long-term provisions |
2.464 |
0.000 |
0.000 |
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Total
Non-current Liabilities (3) |
734.837 |
295.835 |
316.076 |
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(4) Current Liabilities |
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(a) Short term borrowings |
2104.292 |
643.278 |
332.990 |
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(b) Trade payables |
371.156 |
186.372 |
105.688 |
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(c) Other current liabilities |
163.142 |
66.783 |
35.636 |
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(d) Short-term provisions |
0.386 |
0.037 |
9.293 |
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Total
Current Liabilities (4) |
2638.976 |
896.470 |
483.607 |
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TOTAL |
5299.126 |
3004.272 |
2304.777 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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|
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(i) Tangible assets |
2643.559 |
1119.017 |
1168.053 |
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(ii) Intangible Assets |
1.094 |
1.551 |
4.286 |
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(iii) Capital work-in-progress |
481.452 |
543.295 |
100.010 |
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(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
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(b) Non-current Investments |
0.001 |
0.001 |
0.001 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
106.230 |
176.299 |
33.465 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
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Total
Non-Current Assets |
3232.336 |
1840.163 |
1305.815 |
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(2) Current assets |
|
|
|
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(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
639.884 |
468.630 |
391.482 |
|
(c) Trade receivables |
885.844 |
599.682 |
517.542 |
|
(d) Cash and cash equivalents |
288.031 |
13.880 |
27.418 |
|
(e) Short-term loans and
advances |
246.340 |
73.011 |
55.824 |
|
(f) Other current assets |
6.691 |
8.906 |
6.696 |
|
Total
Current Assets |
2066.790 |
1164.109 |
998.962 |
|
|
|
|
|
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TOTAL |
5299.126 |
3004.272 |
2304.777 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
4906.100 |
4302.866 |
4181.207 |
|
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Other Income |
|
11.833 |
15.444 |
|
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TOTAL
(A) |
4906.100 |
4314.699 |
4196.651 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
2632.007 |
2577.670 |
|
|
Purchases of Stock-in-Trade |
|
7.693 |
48.464 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
4955.200 |
0.806 |
(5.526) |
|
|
Employees benefits expense |
|
148.132 |
118.552 |
|
|
Other expenses |
|
979.180 |
934.620 |
|
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TOTAL
(B) |
4955.200 |
3767.818 |
3673.780 |
|
|
|
|
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Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(49.100) |
546.881 |
522.871 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
82.700 |
12.667 |
66.796 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(131.800) |
534.214 |
456.075 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
132.200 |
88.962 |
86.513 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(264.000) |
445.252 |
369.562 |
|
|
|
|
|
|
|
Less |
TAX (H) |
(32.900) |
138.379 |
104.489 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(231.100) |
306.873 |
265.073 |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1078.500 |
771.680 |
508.507 |
|
|
|
|
|
|
|
|
Loss
transferred from transferor company vide scheme of merger |
(85.200) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Proposed Dividend and Tax |
0.000 |
0.000 |
1.900 |
|
|
Balance
Carried to the B/S |
762.200 |
1078.553 |
771.680 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(53.74) |
92.10 |
79.56 |
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 |
NA |
NA |
|
Net cash flows from (used in) operations |
(324.524) |
452.960 |
405.159 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
NA |
7.13 |
6.34 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
NA |
12.71 |
12.51 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(5.48) |
18.09 |
16.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.14) |
0.25 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.36 |
0.36 |
0.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.78 |
1.30 |
2.07 |
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 |
33.318 |
33.318 |
43.004 |
|
Reserves & Surplus |
1471.776 |
1778.649 |
1882.309 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1505.094 |
1811.967 |
1925.313 |
|
|
|
|
|
|
long-term borrowings |
30.000 |
0.000 |
512.249 |
|
Short term borrowings |
332.990 |
643.278 |
2104.292 |
|
Total
borrowings |
362.990 |
643.278 |
2616.541 |
|
Debt/Equity
ratio |
0.241 |
0.355 |
1.359 |
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) |
|
Total Income |
4196.651 |
4314.699 |
4906.100 |
|
|
|
2.813 |
13.707 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
4196.651 |
4314.699 |
4906.100 |
|
Profit |
265.073 |
306.873 |
(231.100) |
|
|
6.32% |
7.11% |
(4.71%) |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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) |
No |
|
16 |
No. of employees |
No |
|
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 three 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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
PERFORMANCE REVIEW:
During the year, the company continued to face difficult operating environment at Market place. The high foreign exchange fluctuations and substantial depreciation of Indian Rupee vs US Dollar during the year had impact on the companys operating performance.
That company has substantially completed its planned expansion program during the year, by putting Paper Machine 4 at Morai into operation. The company continues to gradually scale up the production from expanded capacity while securing market share for the expanded capacity.
MACHINERY SEGMENT:
The sale of machinery segment during the year was marginally down due to general economic conditions prevailing at the market place.
POWER GENERATION:
The company has generated 38.039 Million units (KWH) of power during the year against 40.605 Million (KWH) in the previous year for captive consumption. The companys main objective is to operate a modern, cost-effective, energy efficient and environment friendly production plant. The management is committed towards Conservation of Energy.
SCHEME OF ARRANGEMENT
BETWEEN RUBY MACONS LIMITED AND MWV WADCO INDIA PRIVATE LIMITED:
In terms of the Scheme of Arrangement (the Scheme), MWV Wadco India Private Limited (the 'Transferor Company' and also the holding company of Ruby Macons Limited.) has been merged with Ruby Macons Limited (the 'Transferee Company'). The Scheme filed by the Company has been approved by the Honourable Bombay High Court with an appointed date of 1st April, 2013 and an effective date of 3rd September, 2014 (the Effective Date), being the date on which all the requirements under the Companies Act, 1956 have been completed. Upon Merger, the undertaking and the entire business, including all assets and liabilities of the Transferor Company stand transferred to and vested in the Transferee Company.
In terms of the Scheme, the name of the Transferee Company (Ruby Macons Limited) has been changed to "MWV India Paperboard Packaging Private Limited" from 'Effective Date'.
FUTURE OUTLOOK:
The global environment and economic activity is likely to continue to be an area of concern, especially due to depreciation of Indian Rupee against global currencies and inflationary pressures. Despite this scenario, Indian economy stands on a strong footing because of lower export dependency, favourable demographics and rising middle class income. This favourable macro economic situation is strengthened by stable political environment coupled with clear and growth oriented policies by the government. All these are expected to result into improved living standards. The Indian Packaging industry is set to witness good growth, with policy changes and the growth in Indian retail environment. Increasing urbanization and low penetration of packaged products offers good opportunities. The Company has already completed substantial part of its expansion program in terms of setting up of a new production line (PM4) with better technology and better product mix. The Machine has already been put into production stream effective Aug 2013 and is currently in stabilization and scale up mode.
The company has made Environment and Safety a subject of focus. Special efforts are being made at all manufacturing facilities to improve the standards of Environment and Safety.
We are confident that these initiatives will results in a better performance for our company in the coming years.
DETAILS OF
AMALGAMATION
(a) In terms of the Scheme of Arrangement (the Scheme), MWV Wadco India Private Limited (the 'Transferor Company' and also the holding company of Ruby Macons Limited.) has been merged with Ruby Macons Limited (the 'Transferee Company'). The principal business activities of the Transferor Company comprise of manufacturing of corrugated fiber boards, boxes and containers. Upon Merger, the undertaking and the entire business, including all assets and liabilities of the Transferor Company stand transferred to and vested in the Transferee Company. The amalgamation has been accounted under the pooling of interest method and the assets and liabilities (including share application money which was subsequently allocated to Share capital and Securities premium account in financial year 2013-14 on issue of shares) of the Transferor Company have been recorded at their carrying value as per the books of accounts as on the Appointed Date (1st April, 2013).
(b) The Scheme filed by the Company has been approved by the Honourable Bombay High Court with an appointed date of 1st April, 2013 and an effective date of 3rd September, 2014 (the Effective Date), being the date on which all the requirements under the Companies Act, 1956 have been completed.
(c) In terms of the Scheme, the name of the Transferee Company (Ruby Macons Limited) has been changed to "MWV India Paperboard Packaging Private Limited" from 'Effective Date'.
(d) Details of assets and liabilities acquired on amalgamation and treatment of the difference between the net assets acquired and cost of investment by the Transferee Company in the Transferor Company:
|
PARTICULARS |
REFERENCE NO. |
RS. IN MILLION |
RS. IN MILLION |
|
|
|
|
|
|
Tangible assets (net of accumulated depreciation) |
Note 12 |
201.668 |
|
|
Intangible assets (net of accumulated amortisation) |
Note 12 |
0.994 |
|
|
Capital work-in-progress |
|
17.462 |
220.124 |
|
Non-current investments |
|
5163.563 |
|
|
Deferred tax assets |
Note 5 |
34.894 |
|
|
Long-term loans and advances |
|
5.021 |
5203.478 |
|
Current assets: Inventories: |
|
|
|
|
Raw materials |
Note 21 |
88.357 |
|
|
Work-in-progress |
Note 23 |
3.870 |
|
|
Finished goods |
Note 23 |
1.958 |
|
|
Stores and spares |
|
4.266 |
|
|
Trade receivables (net of provision) |
|
68.976 |
|
|
Cash and bank balances: |
|
|
|
|
Cash and cash equivalents |
|
121.381 |
|
|
Other bank balances |
|
500.000 |
|
|
Short-term loans and advances |
|
36.449 |
|
|
Other current assets |
|
12.946 |
838.203 |
|
Sub-total (A) |
|
|
6261.805 |
|
Reserves and surplus: |
|
|
|
|
Securities Premium Account |
Note 3 |
5256.697 |
|
|
Capital Reserve |
Note 3 |
5.725 |
|
|
Deficit in Statement of Profit and Loss |
Note 3 |
(85.214) |
5177.208 |
|
Non-current liabilities: |
|
|
|
|
Long-term borrowings |
|
181.275 |
|
|
Other long-term liabilities |
|
0.459 |
|
|
Long-term provisions |
|
2.799 |
184.533 |
|
Current liabilities: |
|
|
|
|
Short-term borrowings |
|
0.694 |
|
|
Trade payables |
|
59.658 |
|
|
Other current liabilities |
|
507.330 |
|
|
Short-term provisions |
|
1.579 |
569.261 |
|
Sub-total (B) |
|
|
5931.002 |
|
Net carrying value of assets and liabilities of Transferor Company (A-B) |
|
|
330.803 |
|
Value of 43,00,440 shares issued (in 13:10 ratio) having face value of Rs.10/- |
|
|
43.004 |
|
Difference considered as Capital Reserve as per the Scheme |
|
|
287.799 |
(e) Further following adjustments are recorded in accordance with the scheme: The resulting difference between face value of Share Capital of the Transferee Company [Rs. 33.318 Million] and the carrying value of the Investments held by the Transferor Company [Rs. 5163.563 Million] of Rs. 5130.245 Million is adjusted against the Securities Premium Account.
(f) 100% of the equity shares of the Transferor Company and Transferee Company have been cancelled, and the Transferee Company has issued 43,00,440 new equity shares of Rs. 10/- each to the shareholders of the Transferor Company. The new shares have been allotted in the ratio of 13 equity shares of Rs.10/- each in the Transferee Company for every 10 equity shares of Rs. 100/- each of the Transferor Company [13:10].
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Other external commercial borrowings |
488.291 |
0.000 |
|
Deferred sales tax loan |
23.959 |
0.000 |
|
SHORT TERM BORROWING |
|
|
|
Loans repayable on demand from banks |
1503.718 |
400.000 |
|
Other loans and advances, others |
215.654 |
0.000 |
|
Total |
2231.622 |
400.000 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION
|
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10543670 |
03/09/2014 |
4,950,000.00 |
ICICI BANK LIMITED |
PLOT NO. 135, VIAHOUSE, GIDC CROSS, VAPI, GUJARAT, |
C40762478 |
|
2 |
90225295 |
16/08/2012 * |
721,600,000.00 |
STATE BANK OF INDIA |
MID CORPORATE BRANCH, VAPI, GUJARAT - 396195, INDI |
B56452154 |
|
3 |
90225158 |
30/06/2012 * |
721,600,000.00 |
STATE BANK OF INDIA |
MID CORPORATE BRANCH, VAPI, GUJARAT - 396195, INDI |
B43038009 |
|
4 |
90237453 |
12/12/2005 * |
117,800,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL TOWNSHIP BRANCH, GIDC, VAPI, GUJARAT - |
- |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Other equipments
Intangible assets
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a 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.64.92 |
|
UK Pound |
1 |
Rs.101.44 |
|
Euro |
1 |
Rs.71.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
-- |
|
--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 |
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 |
|
43 |
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.