MIRA INFORM REPORT
|
Report No. : |
337272 |
|
Report Date : |
18.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
FINOLEX PLASSON
INDUSTRIES PRIVATE LIMITED (w.e.f. 16.06.2011) |
|
|
|
|
Formerly Known
As : |
FINOLEX PLASSON
INDUSTRIES LIMITED (w.e.f. 24.12.2008) PLASTRO PLASSON
INDUSTRIES (INDIA) LIMITED PLASTRO IRRIGATION
SYSTEMS (NDIA) LIMITED |
|
|
|
|
Registered
Office : |
Plot No.399, Urse, Taluka
- Maval, District Pune – 410 506, Maharashtra |
|
Tel. No.: |
91-2114-237045 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
27.07.1992 |
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|
|
|
Com. Reg. No.: |
11-067896 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.100.000
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U41000PN1992PTC067896 |
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|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEF00451D |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCP1939K |
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|
|
|
Legal Form : |
Private Limited Liability
Company |
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|
|
|
Line of Business
: |
Subject is engaged in manufacturing of micro
irrigation systems, fittings, accessories and range of irrigation components
and offers a wide range of products suitable for different sectors of
agricultural activity. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
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 : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record. Financial position of the company seem to be decent. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long-Term Rating: BBB+ |
|
Rating Explanation |
Have moderate degree of safety and carry
moderate credit risk. |
|
Date |
09.07.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short-Term Rating: A2 |
|
Rating Explanation |
Have strong degree of safety and carry low
credit risk. |
|
Date |
09.07.2015 |
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 DECLINED BY
|
Name : |
Mr. Dharmendra |
|
Designation : |
Finance Department |
|
Contact No.: |
91-20-27408300 |
|
Date : |
17.08.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No.399, Urse, Taluka
- Maval, District Pune – 410 506, Maharashtra, India |
|
Tel. No.: |
91-2114-237045/ 6/ 7/ 8 |
|
Fax No.: |
91-2114-237044 |
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E-Mail : |
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|
Website : |
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|
|
Corporate Office : |
4th Floor, P-14, Rajiv Gandhi Infotech Park, Phase-I, MIDC,
Hinjewadi, Pune – 411 057, Maharashtra, India |
|
Tel. No.: |
91-20-27518300 |
|
Fax No.: |
91-20-22932294 |
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|
|
|
Branch Office : |
Located at : ·
· Vadodara · Coimbatore · Secunderabad |
DIRECTORS
AS ON 26.09.2014
|
Name : |
Mr. Vijay Kishan Chhabria |
|
Designation : |
Managing director |
|
Address : |
472/A, Model Colony, Harekrishna Mandir Road, Pune – 411 016,
Maharashtra, India |
|
Date of Birth/Age : |
23.02.1961 |
|
Date of Appointment : |
13.03.2010 |
|
PAN No.: |
AAMPC9925C |
|
DIN No.: |
01403853 |
|
|
|
|
Name : |
Mr. Kishan Parsram Chhabria |
|
Designation : |
Director |
|
Address : |
“VIJDEEP”, 472/A, Model Colony, Harekrishna Mandir Road, Pune – 411
016, Maharashtra, India |
|
Date of Birth/Age : |
20.12.1933 |
|
Date of Appointment : |
30.09.2010 |
|
PAN No.: |
AAMPC9921G |
|
DIN No.: |
00016995 |
|
|
|
|
Name : |
Mr. Mahesh Sivamoni Moorthy |
|
Designation : |
Director |
|
Address : |
B302, Pinnacle The Woods, Wakad, Kalewadi, Pune – 411 027,
Maharashtra, India |
|
Date of Birth/Age : |
31.12.1966 |
|
Date of Appointment : |
01.01.2014 |
|
DIN No.: |
06784399 |
|
|
|
|
Name : |
Mr. Sanjay Khatau Asher |
|
Designation : |
Director |
|
Address : |
32, Modi Street, Fort, Mumbai – 400 001, Maharashtra, India |
|
Date of Birth/Age : |
26.11.1964 |
|
Date of Appointment : |
20.09.2003 |
|
DIN No.: |
00008221 |
|
|
|
|
Name : |
Mr. Prabhakar Dattatraya Karandikar |
|
Designation : |
Director |
|
Address : |
702, Saptagiri Apartments, Near Dhanakude Vasti, Baner, Pune – 411
045, Maharashtra, India |
|
Date of Birth/Age : |
30.12.1949 |
|
Date of Appointment : |
16.07.2009 |
|
DIN No.: |
02142050 |
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|
|
|
Name : |
Tova Posner Henkin |
|
Designation : |
Director |
|
Address : |
Maagan Michael, D.N. Menashe, Israel – 37805 |
|
Date of Birth/Age : |
19.02.1946 |
|
Date of Appointment : |
16.09.1998 |
|
DIN No.: |
00111916 |
|
|
|
|
Name : |
Tsvi Tsur |
|
Designation : |
Director |
|
Address : |
Kibbutz Gvat, Israel – 30050 |
|
Date of Birth/Age : |
01.08.1951 |
|
Date of Appointment : |
23.02.1993 |
|
DIN No.: |
01977652 |
|
|
|
|
Name : |
Mr. Mukesh Dolumal Katara |
|
Designation : |
Director |
|
Address : |
219, Sindh Housing Society, Road No.2, Aundh, Pune – 411 007, Maharashtra,
India |
|
Date of Birth/Age : |
10.07.1957 |
|
Date of Appointment : |
27.07.1992 |
|
DIN No.: |
00286037 |
|
|
|
|
Name : |
Gal Wexsler |
|
Designation : |
Director |
|
Address : |
Maagan Michael, D.N. Menashe, Israel – 37805 |
|
Date of Birth/Age : |
08.09.1963 |
|
Date of Appointment : |
03.12.2008 |
|
DIN No.: |
03364449 |
KEY EXECUTIVES
|
Name : |
Mr. Satish Janardan Ketkar |
|
Designation : |
Company Secretary |
|
Address : |
Flat No.10, Aditya Garden City, ‘Emerald’ Building, (3), Warje, Pune –
411 058, Maharashtra, India |
|
Date of Birth/Age : |
23.06.1957 |
|
Date of Appointment : |
19.11.2011 |
|
PAN No.: |
ABTPK0228N |
|
|
|
|
Name : |
Mr. Dharmendra |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
M.D. Katara |
|
20 |
|
K. P. Chhabria |
|
20 |
|
V.K. Chhabria |
|
40 |
|
S.S. Sanzgiri |
|
20020 |
|
Finolex Industries Limited, |
|
4635000 |
|
Plaschin Limited, |
|
3365000 |
|
Finolex Cables Limited, India |
|
1000000 |
|
Orbit Electricals Private Limited, India |
|
979900 |
|
Total |
|
10000000 |
AS ON 26.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
33.65 |
|
Bodies
corporate |
66.15 |
|
Other
top fifty shareholders |
0.20 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of micro
irrigation systems, fittings, accessories and range of irrigation components and
offers a wide range of products suitable for different sectors of
agricultural activity. |
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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 : |
· Saraswat Co-Operative Bank Limited, RASEC, F.C. Road, Pune – 411 004, Maharashtra, India · The Hongkong and Shanghai Banking Corporation Limited, Amar Avinash Corporate City, Sector No.11, Bund Garden Road, Pune – 411 001, Maharashtra, India |
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Facilities : |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sell Chartered Accountants |
|
Address : |
706, B Wing, 7th Floor, ICC Trade Tower, International Convention Centre,
Senapati Bapat Road, Pune – 411 016, Maharashtra, India |
|
PAN No.: |
AACFD4815A |
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|
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
Enterprises which are owned, or have significant influence of or are partners
with Key management personnel and their relatives : |
·
Finolex Industries Limited, India ·
Finolex Cables Limited, India ·
Finprop Advisory Services Limited, India [CIN
No.: U70101MH1995PTC092879] ·
Plaschin Limited, Israel ·
Plasson Limited, Israel ·
Motay Limited, Israel ·
Kaya Software Private Limited, India ·
International Institute of Information
Technology, India |
|
|
|
|
Joint Venture : |
Rajasthan Olive Cultivation Limited, India |
CAPITAL STRUCTURE
AS ON 26.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12750000 |
Equity Shares |
Rs.10/- each |
Rs.127.500 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000
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 |
100.000 |
100.000 |
100.000 |
|
(b) Reserves & Surplus |
703.195 |
628.345 |
496.652 |
|
(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) |
803.195 |
728.345 |
596.652 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
77.693 |
46.986 |
50.157 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
1.416 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term provisions |
21.379 |
21.494 |
15.616 |
|
Total
Non-current Liabilities (3) |
99.072 |
68.480 |
67.189 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
28.833 |
43.307 |
|
(b)
Trade payables |
396.318 |
358.287 |
330.937 |
|
(c)
Other current liabilities |
325.605 |
308.891 |
240.792 |
|
(d)
Short-term provisions |
28.127 |
35.709 |
36.041 |
|
Total
Current Liabilities (4) |
750.050 |
731.720 |
651.077 |
|
|
|
|
|
|
TOTAL |
1652.317 |
1528.545 |
1314.918 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
347.274 |
355.447 |
253.423 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
19.025 |
3.783 |
43.719 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
7.525 |
7.525 |
7.525 |
|
(c) Deferred tax assets
(net) |
11.231 |
2.588 |
0.000 |
|
(d) Long-term Loan
and Advances |
75.554 |
10.327 |
34.067 |
|
(e)
Other Non-current assets |
31.352 |
26.964 |
0.000 |
|
Total
Non-Current Assets |
491.961 |
406.634 |
338.734 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
31.199 |
0.365 |
0.330 |
|
(b)
Inventories |
363.779 |
322.954 |
247.450 |
|
(c)
Trade receivables |
643.314 |
756.881 |
694.100 |
|
(d)
Cash and cash equivalents |
95.751 |
18.973 |
10.683 |
|
(e)
Short-term loans and advances |
24.671 |
20.962 |
16.070 |
|
(f)
Other current assets |
1.642 |
1.776 |
7.551 |
|
Total
Current Assets |
1160.356 |
1121.911 |
976.184 |
|
|
|
|
|
|
TOTAL |
1652.317 |
1528.545 |
1314.918 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2567.650 |
2364.380 |
1775.020 |
|
|
|
Other Income |
1.860 |
1.900 |
2.620 |
|
|
|
TOTAL (A) |
2569.510 |
2366.280 |
1777.640 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
2343.430 |
2043.630 |
1486.510 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
226.080 |
322.650 |
291.130 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
47.270 |
49.860 |
35.640 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
178.810 |
272.790 |
255.490 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
48.990 |
41.620 |
34.570 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
129.820 |
231.170 |
220.920 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
37.420 |
76.080 |
73.660 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
92.400 |
155.090 |
147.260 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
10.000 |
17.500 |
17.500 |
|
|
|
Proposed Dividend |
15.000 |
20.000 |
20.000 |
|
|
|
Tax on Proposed Dividend |
2.550 |
3.400 |
3.240 |
|
|
SURPLUS CARRIED
TO THE B/S |
64.850 |
114.190 |
106.520 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
6.340 |
3.377 |
2.350 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
9.24 |
15.50 |
14.73 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long-term debt |
32.349 |
25.111 |
16.111 |
|
Cash generated
from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
296.947 |
241.869 |
234.335 |
|
Net cash flows from (used in) operating
activities |
250.752 |
155.898 |
155.945 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
3.60 |
6.56 |
8.30 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Sales) |
(%) |
8.80 |
13.65 |
16.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.04 |
15.26 |
17.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.32 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.14 |
0.14 |
0.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.55 |
1.53 |
1.50 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs. In Million |
Rs. In Million |
Rs. In Million |
|
Share Capital |
100.000 |
100.000 |
100.000 |
|
Reserves & Surplus |
496.652 |
628.345 |
703.195 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
596.652 |
728.345 |
803.195 |
|
|
|
|
|
|
Long-term borrowings |
50.157 |
46.986 |
77.693 |
|
Short term borrowings |
43.307 |
28.833 |
0.000 |
|
Current Maturities of
Long term debt |
16.111 |
25.111 |
32.349 |
|
Total borrowings |
109.575 |
100.930 |
110.042 |
|
Debt/Equity ratio |
0.184 |
0.139 |
0.137 |
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 |
|
Income |
1775.020 |
2364.380 |
2567.650 |
|
|
|
33.203 |
8.597 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs. In Million |
Rs. In Million |
Rs. In Million |
|
Income |
1775.020 |
2364.380 |
2567.650 |
|
Profit |
147.260 |
155.090 |
92.400 |
|
|
8.30% |
6.56% |
3.60% |
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 |
Yes |
|
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 |
Yes |
|
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 |
NOTE:
The registered office of the company has been shifted from Block D1, Plot No.10, MIDC, Chinchwad, Pune – 410 506, Maharashtra to
the present address.
CORPORATE
INFORMATION
The Company is a joint venture with Finolex Industries Limited and its associates,
holding about 66.35% equity and Plaschin Limited, Israel holding the balance
33.65%.
The Company was incorporated under the Companies Act, 1956 in July 1992,
with its registered office at Urse, near Pune. The Company is engaged in
manufacturing of micro irrigation systems, fittings, accessories and range of
irrigation components and offers a wide range of products suitable for
different sectors of agricultural activity.
CURRENT YEAR’S
PROSPECTS:
The Company expects that the installation of the flat line will be
completed by end of June, 2014 and thereafter the production will start. The
PVC Ball valve project is expected to be completed by October 2014.
The micro irrigation industry as a whole continues to be affected by the
delays in the receipt of Government subsidies and increase in input costs.
Currently, efforts are being made on the Industry level, to get an
increase in the component prices. If successful, it may give some relief to
sustain better margins.
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Deferred sales tax loan |
0.953 |
3.042 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand from Banks |
0.000 |
28.133 |
|
Total
|
0.953 |
31.175 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10261877 |
29/11/2010 |
150,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
B03900537 |
|
2 |
10010943 |
08/07/2006 |
15,000,000.00 |
BANK OF BARODA |
PIMPRI CHINCHWAD BRANCH,
PIMPRI CHINCHWAD, PUNE, |
A02582054 |
|
3 |
90087314 |
27/07/2009 * |
815,200,000.00 |
BANK OF BARODA |
PIMPRI CHINCHWAD BRANCH,
OLYMPIC HOUSE, MUMBAI PUNE ROAD, PUNE, MAHARASHTRA - 411018, INDIA |
A69531887 |
|
4 |
90086865 |
30/06/2004 |
20,000,000.00 |
BANK OF BARODA |
PIMPRI BRANCH, PIMPRI,
PUNE, MAHARASHTRA - 411018, INDIA |
- |
|
5 |
90085828 |
11/07/2001 |
28,300,000.00 |
BANK OF BARODA |
PIMPRI BRANCH, PUNE,
MAHARASHTRA - 411018, INDIA |
- |
|
6 |
90085258 |
14/01/2000 |
1,500,000.00 |
CENTRAL BANK OF INDIA |
PIMPRI BRANCH, 22/1;
POONAM C.; PIMPRI, PUNE, MAHARASHTRA, INDIA |
- |
|
7 |
90082461 |
21/12/2011 * |
1,002,800,000.00 |
BANK OF BARODA |
PIMPRI BRANCH, PIMPRI,
PUNE, MAHARASHTRA - 411018, INDIA |
B29927183 |
|
8 |
90090065 |
22/12/1994 |
8,500,000.00 |
CENTRAL BANK OF INDIA |
PIMPRI BRANCH, PIMPRI,
PUNE, MAHARASHTRA - 411018, INDIA |
- |
|
9 |
90084193 |
09/11/1994 * |
13,300,000.00 |
BANK OF BARODA |
PIMPRI, CHINCHWAD BRANCH,
PUNE, MAHARASHTRA, INDIA |
- |
|
10 |
90084177 |
07/10/1994 |
8,200,000.00 |
CENTRAL BANK OF INDIA |
PIMPRI BRANCH, PUNE,
MAHARASHTRA - 411018, INDIA |
- |
|
11 |
90084130 |
15/06/1994 |
1,500,000.00 |
BANK OF BARODA |
OLYMPIC HOUSE, BOMBAY
PUNE ROAD; PIMPRI-CHINCHWAD, PUNE, MAHARASHTRA - 411018, INDIA |
- |
|
12 |
90084102 |
30/03/1994 |
3,000,000.00 |
BANK OF BARODA |
OLYMPIC HOUSE,
BOMBAY-PUNE ROAD; PIMPRI, PUNE, MAHARASHTRA - 411005, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· 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, 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.65.22 |
|
UK Pound |
1 |
Rs.102.23 |
|
Euro |
1 |
Rs.72.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
49 |
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.