MIRA INFORM REPORT
|
Report No. : |
352481 |
|
Report Date : |
02.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
EUROBOND INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
M/s Gala and Shethia Enterprises, Plot No C-5, St.11, Marol Industrial
Area, MIDC, Andheri (East), Mumbai-400093, Maharashtra |
|
Tel. No.: |
91-22-29264017 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
13.08.2004 |
|
|
|
|
Com. Reg. No.: |
11-147987 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 36.125 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27203MH2004PTC147987 |
|
|
|
|
IEC No.: |
0304049239 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCE3477F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Aluminum Composite
Panel Sheets, Iron Ore Benefication and Palletisation and also Trader of
Glass Hardware and Aluminum Composite Panel. (Registered Documents) |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject was incorporated in August 2004, it is a part of the ‘’Éuro
Group’’ promoted by Mr Suresh Gala. The rating assigned to company takes into account delay in the
commissioning of iron beneficiation and restructuring of its debt obligations
under Corporate Debt Restructuring (CDR). The rating is also constrained by the continued decline in net worth
on account of losses leading to a highly leveraged capital structure and
risks associated with volatility in the raw material prices. However, trade relations are fair. Business is active. Payments are
reported as slow but correct. In view of aforesaid, the company can be considered for business
dealing with some cautions. |
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 |
CARE |
|
Rating |
Long Term Bank Facilities=B |
|
Rating Explanation |
Risk-prone-credit-quality and carries very
high credit risk |
|
Date |
February, 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
31-03-2015.
INFORMATION DECLINED BY
|
Name : |
Ms. Sangeeta Patel |
|
Designation : |
Assistant Accounts Manager |
|
Contact No.: |
91-22-29264017 |
|
Date : |
30.11.2015 |
LOCATIONS
|
Registered/ Head Office : |
M/s Gala and Shethia Enterprises, Plot No C-5, St.11, Marol Industrial
Area, MIDC, Andheri (East), Mumbai-400093, Maharashtra, India |
|
Tel. No.: |
91-22-29264017 |
|
Fax No.: |
91-22-29264001 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
EPIP, KarthoIi, Bari Brahmana, Jammu-181133, Jammu and
Kashmir, India |
|
Tel. No.: |
91-192-3221406 |
|
Fax No.: |
91-192-3221403 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Plot No. 18, Hargarh Industrial Area, Village – Hargarh, Tehsil
Sihora, District Jabalpur, Madhya Pradesh, India |
|
|
|
|
Branch Office 1 : |
9/57,
Ground Floor, Ramesh Nagar, New Delhi -110015, India |
|
Tel. No.: |
91-11-45054255 |
|
Fax No.: |
91-11-45054266 |
|
|
|
|
Branch Office 2 : |
Plot No. 232, 6/ E, New Industrial Estate, Road
No. 6, Near Automotive Pressing, Udhna, Surat - 394210, Gujarat, India |
|
E-Mail : |
|
|
|
|
|
Branch Office 3 : |
Plot No.5-A/1, IDA Nacharam, Next to
Economic Times Press Nacharam, Hyderabad -500076, Andhra Pradesh, India |
|
Tel. No.: |
91-40-27150933 |
|
Fax No.: |
91-40-27150933 |
|
E-Mail : |
|
|
|
|
|
Branch Office 4/
Warehouse : |
C-11, Karnavati Estate, Sarkhej, Sanand Road, Near Essar Petrol Pump,
Ahmedabad - 380007, Gujarat, India |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Rahul Suresh Gada |
|
Designation : |
Director |
|
Address : |
2
, Building No.5, Krishna Baug, Society, R.C. Marg Chember (East), Mumbai- 400071,
Maharashtra, India |
|
Date of Birth/Age : |
03.12.1980 |
|
Date of Appointment : |
01.04.2009 |
|
PAN No.: |
AEGPG7796B |
|
DIN No.: |
00089973 |
|
|
|
|
Name : |
Mr. Bharat Dharamshi Gala |
|
Designation : |
Whole-time director |
|
Address : |
F-20, Sunil Shopping Centre,, J.P Road, Andheri (West), Mumbai-400058,
Maharashtra, India |
|
Date of Birth/Age : |
26.02.1965 |
|
Date of Appointment : |
19.10.2007 |
|
PAN No.: |
AERPG0846F |
|
DIN No.: |
00090253 |
|
|
|
|
Name : |
Mr. Chintan Suresh Gada |
|
Designation : |
Whole-time director |
|
Address : |
Flat No. 2, Building No.5, Krishna Baug Society, R.C Marg, Chembur,
Mumbai- 400071, Maharashtra, India |
|
Date of Birth/Age : |
11.06.1985 |
|
Date of Appointment : |
13.08.2004 |
|
PAN No.: |
AHYPG1795R |
|
DIN No.: |
00105515 |
|
|
|
|
Name : |
Mr. Suresh Dharamshi Gala |
|
Designation : |
Managing director |
|
Address : |
A-302, Prathamesh Residency CTS, No. 219, Dadabhai Road No.1, Andheri
(West), Mumbai-400058, Maharashtra, India |
|
Date of Birth/Age : |
26.01.1969 |
|
Date of Appointment : |
13.08.2004 |
|
PAN No.: |
AABPG7779D |
|
DIN No.: |
00117735 |
KEY EXECUTIVES
|
Name : |
Ms. Sangeeta Patel |
|
Designation : |
Assistant Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Suresh Gala |
|
377750 |
|
Dhiraj D Gala |
|
363750 |
|
Chintan Gada |
|
232000 |
|
Rahul Gada |
|
235050 |
|
Bharat Gala |
|
241212 |
|
Naina Suresh Gala |
|
219913 |
|
Meena Dhiraj Gala |
|
211500 |
|
Prabha Bharat Gala |
|
211500 |
|
Disti Multimedia Limited, India |
|
235000 |
|
Rinkal R. Gada |
|
74825 |
|
Pinak N. Shah |
|
86825 |
|
Subhash L. Shah |
|
105000 |
|
Atlantic Apparels Private Limited, India |
|
903125 |
|
Forum D Shah |
|
105000 |
|
Sonalben S Shah |
|
10050 |
|
Total |
|
3612500 |
AS ON 16.05.2015
|
Names of Allottees |
|
No. of Shares |
|
Dhaval P Nandu Service |
|
248359 |
|
Kevin Impex Private Limited, India |
|
1106329 |
|
Total |
|
1354688 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
31.51 |
|
Directors
or relatives of directors |
60.00 |
|
Other
top fifty shareholders |
8.49 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Aluminum Composite Panel Sheets, Iron Ore Benefication and Palletisation
and also Trader of Glass Hardware and Aluminum Composite Panel. (Registered
Documents) |
||||||
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|
|
||||||
|
Products : |
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||||||
|
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|
||||||
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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||||||
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Imports : |
Not Divulged |
||||||
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||||||
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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|
|||||||||||||||||||||||||||
|
Customers : |
· Surat Electric City, Surat · MTNL · Indian Railway · ESIC · Indian Airlines, Chennai |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Bankers : |
·
Jammu and Kashmir Bank Limited (Corporate
Headquarters), M. A. Road, Srinagar,Kashmir, Jammu and Kashmir - 190001,
Jammu and Kashmir, India |
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A.
S. Sureka and Associates Chartered Accountants |
|
Address : |
201, Ashapura, 1-B
Kalyangram CHS Limited, V. P. Road, Andheri (West), Mumbai-400058,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAQPS2937L |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : |
·
Kevin Impex Private Limited, India
(U51909MH2005PTC155113) ·
Atlantic Apparels Private Limited, India
(U18101MH2007PTC173414) ·
Jinendra Trading House LLP |
CAPITAL STRUCTURE
AFTER 30.09.2014
Authorised Capital : Rs. 125.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 49.672
Million
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Million |
|
|
|
|
|
Issued Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,612,500 |
Equity Shares |
Rs. 10/- each |
Rs. 36.125
Million |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3612500 |
Equity Shares |
Rs. 10/- each |
Rs. 36.125 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 |
36.125 |
36.125 |
36.125 |
|
(b) Reserves & Surplus |
82.706 |
206.932 |
799.686 |
|
(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) |
118.831 |
243.057 |
835.811 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
1561.865 |
1479.040 |
1145.727 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
4.427 |
|
(c)
Other long term liabilities |
0.015 |
0.015 |
0.000 |
|
(d)
long-term provisions |
8.238 |
7.891 |
3.712 |
|
Total
Non-current Liabilities (3) |
1570.118 |
1486.946 |
1153.866 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
251.542 |
335.533 |
411.257 |
|
(b)
Trade payables |
216.288 |
143.982 |
135.954 |
|
(c)
Other current liabilities |
153.137 |
210.393 |
414.098 |
|
(d)
Short-term provisions |
0.000 |
0.000 |
14.801 |
|
Total
Current Liabilities (4) |
620.967 |
689.908 |
976.110 |
|
|
|
|
|
|
TOTAL |
2309.916 |
2419.911 |
2965.787 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1455.610 |
1574.261 |
199.741 |
|
(ii)
Intangible Assets |
1.117 |
2.095 |
3.072 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
1706.604 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and
Advances |
27.987 |
32.016 |
96.077 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1484.714 |
1608.372 |
2005.494 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
503.243 |
432.671 |
562.842 |
|
(c)
Trade receivables |
182.793 |
184.593 |
211.161 |
|
(d)
Cash and cash equivalents |
18.736 |
77.841 |
70.216 |
|
(e)
Short-term loans and advances |
74.206 |
67.960 |
114.786 |
|
(f)
Other current assets |
46.224 |
48.474 |
1.288 |
|
Total
Current Assets |
825.202 |
811.539 |
960.293 |
|
|
|
|
|
|
TOTAL |
2309.916 |
2419.911 |
2965.787 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
NA |
NA |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
34.540 |
(415.101) |
84.559 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
158.597 |
94.246 |
20.254 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(124.057) |
(509.347) |
64.305 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.169 |
83.407 |
13.646 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(124.226) |
(592.754) |
50.659 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
62.573 |
655.327 |
680.993 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to Capital Redemption
Reserve |
0.000 |
0.000 |
3.825 |
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
72.500 |
|
|
BALANCE CARRIED
TO THE B/S |
(61.653) |
62.573 |
655.327 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(34.39) |
(164.08) |
14.02 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
26.281 |
18.809 |
203.937 |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from (used in) Operations |
185.322 |
(28.702) |
175.586 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(5.37) |
(21.05) |
5.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.04) |
(2.10) |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
15.48 |
7.54 |
2.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33 |
1.18 |
0.98 |
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 |
36.125 |
36.125 |
36.125 |
|
Reserves & Surplus |
799.686 |
206.932 |
82.706 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
835.811 |
243.057 |
118.831 |
|
|
|
|
|
|
Long-term borrowings |
1145.727 |
1479.040 |
1561.865 |
|
Short term borrowings |
411.257 |
335.533 |
251.542 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
203.937 |
18.809 |
26.281 |
|
Total
borrowings |
1760.921 |
1833.382 |
1839.688 |
|
Debt/Equity
ratio |
2.107 |
7.543 |
15.482 |
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 |
Yes |
|
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 |
No |
|
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
CASE DETAILS BENCH BOMBAY Presentation Date:-31/10/2014 LODGING NO: SL/1038/2014 FILLING DATE: 31/10/2014 REG.
NO: S/1017/2014 REG. DATE;
26/12/2014 PETITIONER: EURO PANEL
PRODUCTS PRIVATE LIMITED RESPONDENT:
EUROBOND INDUSTRIES PVT. LTD PETN. ADV: GAJRIA AND CO.
(353)
RESP.ADV.:- MANIAR SRIVASTAVA
ASSOCIATES
(I1862) DISTRICT: MUMBAI BENCH: SINGLE STATUS:
PRE-ADMISSION
CATEGORY: SUIT (TRADE MARK) LAST DATE: 27.07.2015
STAGE: FOR DIRECTION
[ORIGINAL
SIDE MATTERS] LAST CORAM: HON’BLE SHRI JUSTICE S.J. KATHAWALLA ACT : Trade and
Trade Merchandise Marks Act |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10114090 |
30/06/2008 |
490,000.00 |
GE CAPITAL
TRANSPORTATION FINANCIAL SERVICES LIMIT |
AIFACS BUILDING,,
1, RAFI MARG, , NEW DELHI, DELH |
A41842030 |
|
2 |
10097255 |
21/04/2008 |
614,000,000.00 |
UCO BANK |
MID CORPORATE
BRANCH, D N ROAD,, UCO BANK BUILDIN |
A36159440 |
|
3 |
90354043 |
03/10/2011 * |
1,635,000,000.00 |
UCO BANK |
MID CORPORATE
BRANCH, UCO BANK BUILDING, 359, D.N |
B23278476 |
|
* Date of charge modification |
||
|
|
||
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Rupee term loans from banks |
0.000 |
0.139 |
|
Intercorporate borrowings |
0.725 |
0.725 |
|
Loans
and advances from related parties |
235.400 |
235.039 |
|
|
|
|
|
Total |
236.125 |
235.903 |
CORPORATE INFORMATION
Subject is a private company
domiciled in India and incorporated under the provisions of the Companies Act
1956. The company is presently engaged in Manufacturing of Aluminum Composite
Panel Sheets, Iron ore benefication and pelletisation. The Company is also
engaged in Trading of Glass Hardware and Aluminum Composite Panel.
FINANCIAL
PERFORMANCE: -
Aluminum Composite Panel
(ACP) Division:
The Turnover of the ACP
Division was Rs. 1182.592 Million in the current financial year as against Rs.
1029.728 Million in the previous financial year resulting in net profit before
Exceptional items & tax of Rs. 27.419 Million as against Rs. 31.522 Million
in the previous financial year. Decrease in the profit for the year is due to
pressure on margins on account of high input cost of imported raw materials
which in turn could not be passed on to the customers in highly competitive
environment.
Iron Ore Beneficiation and
Pelletization Division:
During the period, several
internal and external factors, including slower market growth and liquidity
stress continued to adversely affect the operation of the company. The Turnover
of the Jabalpur Division was Rs. 728.575 Million in the current financial year
as against Rs. 419.406 Million in the previous financial year resulting in net
Loss before Exceptional items and tax of Rs. 151.476 Million as against Rs.
275.190 Million in the previous financial year.
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
·
Other 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 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. 66.52 |
|
|
1 |
Rs. 100.44 |
|
Euro |
1 |
Rs. 70.44 |
INFORMATION DETAILS
|
Information Gathered
by : |
KAM |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
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 |
|
27 |
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.