MIRA INFORM REPORT

 

 

Report No. :

352456

Report Date :

03.12.2015

 

IDENTIFICATION DETAILS

 

Name :

SIGACHI INDUSTRIES PRIVATE LIMITED (w.e.f. 29.03.2012)

 

 

Formerly Known As :

SIGACHI CHLORO-CHEMICALS PRIVATE LIMITED

 

 

Registered Office :

229/1 and 90, 4th Floor, Kalyan's Tulsiram Chambers, Madinaguda, Hyderabad – 500 049, Telangana

Mobile No.:

91-9959466755  (Mr. Kartik)

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

11.01.1989

 

 

Com. Reg. No.:

36-009497

 

 

Capital Investment / Paid-up Capital :

Rs.26.687 million

 

 

CIN No.:

[Company Identification No.]

U24110TG1989PTC009497

 

 

IEC No.:

0991028759

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

HYDS02266F

 

 

PAN No.:

[Permanent Account No.]

AACCS8339R

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Micro Crystalline Cellulos Powder. (Registered Activity)

 

 

No. of Employees :

Information declined by the management 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (48)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 340000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Sigachi Industries Private Limited was incorporated in the year 1989. It is an established company having satisfactory track record.

 

The ratings derive strength from the experienced promoters, satisfactory track record of operations and established relationship with the reputed domestic and overseas clienteles.

 

The rating further takes into consideration on company's comfortable financial risk profile characterized by moderate leverage, comfortable debt coverage indicators along with comfortable liquidity position.

 

This rating strength is partially offsets by the susceptibility of operations to volatility in raw material prices, foreign exchange flocculation risk and competition in pharma industry.

 

Trade relations are reported as fair. Business is active. Payments are reported to be usually correct.

 

The company can be considered for normal business dealings at usual trade terms and conditions.

 

Note:

 

The Hon'ble High Court of Andhra Pradesh and the State of Telangana at Hyderabad has sanction the Scheme of Arrangement between Sigachi Cellulos Private Limited, the transferor company no.1 And Sigachi Plasticisers Private Limited, the transferor company no.2 and Sigachi Industries Private Limited, the treansferee company and their respective Shareholders vide its Orders Dated 7th July, 2014. The Order of the Hon'ble Court has been filed with the registrar of Companies on 8th September, 2014. The Scheme was sanction by the Hon'ble High Court of Andhra Pradesh

 

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

Not Available

Rating

Not Available

Rating Explanation

Not Available

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 31-03-2015.

 

 

INFORMATION DECLINED BY

 

Name :

Mr. Kartik

Designation :

Marketing Head

Contact No.:

91-9959466755

Date :

30.11.2015

 

 

LOCATIONS

 

Registered Office :

229/1 and 90, 4th Floor, Kalyan's Tulsiram Chambers, Madinaguda, Hyderabad – 500 049, Telangana, India

Tel. No.:

91-40-40114874/ 75/ 76/ 23043376

Mobile No.:

91-9959466755  (Mr. Kartik)

Fax No.:

91-40-40216248

E-Mail :

For General: info@sigachi.com

For Marketing: mktg@sigachi.com

For Purchases: pur@sigachi.com

subrahmanyam@sigachi.com

Website :

http://www.sigachi.com

Area :

1200 sq. ft.

Location :

Rented

 

 

Factory :

Plot No.20, IDA, Phase –I, Pashamylaram, District Medak, Telangana, India

Location :

Rented

 

 

DIRECTORS

 

AS ON 31.10.2014

 

Name :

Mr. Amit Raj Sinha

Designation :

Managing Director

Address :

S-1, Plot No.66, Huda Height, MLA Colony, Road No.12, Banjara Hills Hyderabad – 500 034, Telangana, India

Date of Birth/Age :

18.09.1973

Date of Appointment :

01.12.2009

DIN No.:

01263292

 

Name :

Mr. Rabindra Prasad Sinha

Designation :

Whole Time Director

Address :

S1, Jaya Villa, Huda Heights, MLA Colony, Road No.12, Banjara Hills, Hyderabad – 500 034, Telangana, India

Date of Birth/Age :

01.09.1950

Date of Appointment :

01.12.2009

DIN No.:

00413448

 

 

Name :

Mr. Chidambarnathan Shanmuganathan

Designation :

Managing Director

Address :

Plot No.33, Bhel Extension, Ushodaya Enclave, Madeena Guda, Hyderabad – 500 040, Telangana, India

Date of Birth/Age :

10.05.1943

Date of Appointment :

01.12.2009

DIN No.:

00485497

 

 

Name :

Mr. Bhavani Shanmugam Chidambaranathan

Designation :

Director

Address :

Hig-33, Phase-II, Ushodaya Enclave, Madinaguda, Ranga Reddy District, Hyderabad – 500 050, Telangana, India

Date of Birth/Age :

13.03.1984

Date of Appointment :

30.09.2010

DIN No.:

02920546

 

 

Name :

Mr. Vijay Amrutlal Bhavsar

Designation :

whole-time director

Address :

4 Maurya Haxed Bunglows, Near Navkar Flats 132 Ring Road, Naranpura, Ahmedabad - 380013, Gujarat, India

Date of Birth/Age :

06.08.1969

Date of Appointment :

18.09.2014

DIN No.:

01768165

 

 

Name :

Mr. Dharm Prakash Tripathi

Designation :

Director

Address :

902, Spring Hill, Hiranandani Estate, Patlipada, Off Godbandhar Road, Thane -West, Thane, 400607, Maharashtra, India

Date of Birth/Age :

10.01.1949

Date of Appointment :

18.09.2014

DIN No.:

00844374

 

 

Name :

Mr. Swami Das Nigam

Designation :

Director

Address :

2473, SEC-C PKT-2 Vasant Kunj, Delhi, 110070, India

Date of Birth/Age :

06.02.1942

Date of Appointment :

18.09.2014

DIN No.:

02669472

 

 

KEY EXECUTIVES

 

Name :

Mr. Kartik

Designation :

Marketing Head

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 31.10.2014

 

SHAREHOLDING DETAIL FILE ATTACHED

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 31.10.2014

 

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

1.00

Bodies corporate

28.00

Directors or relatives of Directors

45.00

Other top fifty shareholders

26.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Micro Crystalline Cellulos Powder. (Registered Activity)

 

 

Products :

Product Description

 

Item Code Number

Hydrochloric Acid

28061000

Microcrystalline Cellulose

39121290

Chlorinated Paraffin

29031990

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS: NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management 

 

 

Bankers :

Banker Name

Canara Bank

Branch Address

SME Branch, Prashanthi Nagar, Kukatpally, Hyderabad - 500072, Telangana, INDIA

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

 

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term Loan from Bank

85.347

4.516

Vehicle loan from bank

0.000

1.897

SHORT TERM BORROWING

 

 

Working capital borrowings from banks

154.356

72.959

Total

239.703

79.372

Note:

 

LONG TERM BORROWING

 

Repayment Terms

 

(a) Loan from Canara Bank of Rs.4.000 Million is repayable in Monthly instalments of Rs. 0.067 Million each till August 2014.

 

(b) Loan from Canara Bank of Rs.9.160 Million is repayable in Monthly instalments of Rs.0.133 Million each till January 2016.

 

(c) loan from Canara Bank of Rs.6.000 Million is repayable in Monthly instalments of Rs. 0.300 Million each till March 2016.

 

(d) loan from Bank of Baroda of Rs.19.700 Million is repayable in Monthly instalments of rn 0.821 Million0 each till March 2016.

 

Security

 

(a)Term Loan from Canara Bank of Rs.19.160 Million is secured by equitable mortgage of land & buildings and hypothecation of plant and machinery, testing equipment’s and all acquisitions of fixed assets in future including assets of erstwhile Sigachi Cellulos Private Limited  and guaranteed by Directors in their personal capacities

 

(b) Term Loan from Bank of Baroda of Rs.19.700 Million is secured by equitable mortgage of land and buildings and hypothecation of plant and machinery, testing equipment’s and all acquisitions of fixed assets in future including assets of erstwhile Sigachi Plasticisers Private Limited  and guaranteed by Directors in their personal capacities

 

 

SHORT TERM BORROWING

 

Working capital facilities from Canara Bank of Rs. 52.000 Million and Bank of Baroda of Rs.15.000 Million are secured by hypothecation of stocks and assignment of boo debts and guaranteed by directors in their personal capacities.

 

Auditors :

 

Name :

T. Adinarayana Rao and Company

Chartered Accountant

Address :

806, 8th Floor, Raghava Ratna Towers, Chirag Ali Lane, ABIDS, Hyderabad – 500 001, Telangana, India

PAN N Income-tax PAN of auditor or auditor's firm :

AAAFT9959R

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associate Companies :
  • R.P.S. Projects and Developers Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.10.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

7150000

Equity Shares

Rs.10/- each

Rs. 71.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3000000

Equity Shares

Rs.10/- each

Rs. 30.000 Million

 

 

 

 

 

 

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

7150000

Equity Shares

Rs.10/- each

Rs. 71.500 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2668690

Equity Shares

Rs.10/- each

Rs. 26.687 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

26.687

12.814

8.542

(b) Reserves & Surplus

91.607

34.782

27.758

(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)

118.294

47.596

36.300

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

106.516

10.787

10.759

(b) Deferred tax liabilities (Net)

6.364

4.144

3.711

(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)

112.880

14.931

14.470

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

161.331

72.959

64.328

(b) Trade payables

48.271

16.007

11.507

(c) Other current liabilities

35.046

5.738

0.506

(d) Short-term provisions

5.420

13.232

5.707

Total Current Liabilities (4)

250.068

107.936

82.048

 

 

 

 

TOTAL

481.242

170.463

132.818

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

198.538

48.003

40.481

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

10.678

0.000

0.000

(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

6.924

2.395

1.324

(e) Other Non-current assets

0.362

0.000

0.000

Total Non-Current Assets

216.502

50.398

41.805

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

101.686

38.439

23.173

(c) Trade receivables

96.469

65.382

49.588

(d) Cash and cash equivalents

16.287

2.518

2.322

(e) Short-term loans and advances

50.298

13.726

15.930

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

264.740

120.065

91.013

 

 

 

 

TOTAL

481.242

170.463

132.818

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

491.923

335.953

305.755

 

Other Income

 

 

 

 

TOTAL

491.923

335.953

305.755

 

 

 

 

 

 

EXPENSES

437.289

301.225

280.696

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

54.634

34.728

25.059

 

 

 

 

 

 

FINANCIAL EXPENSES

27.508

11.053

10.341

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

27.126

23.675

14.718

 

 

 

 

 

 

DEPRECIATION/ AMORTISATION

9.955

3.666

3.183

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

17.171

20.009

11.535

 

 

 

 

 

 

Provision for Current Tax

3.358

6.709

 

 

 

 

Interest on Tax payment of earlier years

0.233

0.000

2.695

 

 

 

 

Deferred Tax

0.884

0.434

 

 

 

 

MAT Credit Entitlement

(3.105)

0.000

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

15.800

13.300

8.840

 

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

26.736

21.569

16.034

 

 

 

 

 

 

Profit of amalgamated companies

1.306

0.000

0.000

 

 

 

 

 

 

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

3.000

1.858

0.923

 

Proposed Dividend

1.281

1.713

1.709

 

Tax on Proposed Dividend

0.256

0.291

0.290

 

Prior Period Expenditure

0.000

0.000

0.383

 

Capitalization of amount for issue of Bonus Shares

0.000

4.271

0.000

 

Balance Carried to the B/S

39.305

26.736

21.569

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

Export Sales

158.046

104.992

77.324

 

Merchant Exports

 --

-- 

2.078

 

TOTAL EARNINGS

158.046

104.992

79.402

 

 

 

 

 

 

IMPORTS

 

 

 

 

 Raw Material

158.756

85.456

NA

 

TOTAL IMPORTS

158.756

85.456

NA

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 5.92

1.04

103.48

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

 

 

 

Term loan instalments due less than 12 months

16.792

2..396

NA

Vehicle loan instalments due less than 12 months

2.894

1.619

NA

Total

19.686

4.015

NA

 

 

 

 

Cash generated from operations

62.543

NA

NA

Net cash flows from operating activities

59.595

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Return on Total Assets

(PBT/Total Assets}

(%)

3.65

11.74

8.68

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.15

0.42

0.32

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.43

1.84

2.07

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.06

1.11

1.11

 

 

 

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

8.542

12.814

26.687

Reserves & Surplus

27.758

34.782

91.607

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

36.300

47.596

118.294

 

 

 

 

long-term borrowings

10.759

10.787

106.516

Short term borrowings

64.328

72.959

161.331

Total borrowings

75.087

83.746

267.847

Debt/Equity ratio

2.069

1.760

2.264

 

 

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

305.755

335.953

491.923

 

 

9.877

46.426

 

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

305.755

335.953

491.923

Profit

8.840

13.300

15.800

 

2.89%

3.96%

3.21%

 

 

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)

No

16

No. of employees

No

17

Details of sister concerns

No

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

 

OPERATIONS

 

The Company recorded a total income of Rs.491.923 Million during the year under review as against Rs.335.953 Million in the previous year. The net profit after provision for tax is Rs.15.800 Million as against Rs.13.300 Million in the previous year.

 

The Company was conferred with “India’s Small Giants Award”, one among the top 40 companies in India, honoured by Hon’ble Minister of Small and Medium Enterprises (MSME), Shri Kalraj Mishra, acknowledging the strong basics and the growth witnessed in the last couple of years.

 

AMALGAMATION

 

i) During the year SCPL (Transferor company 1) (engaged in the manufacture and sale of Micro crystalline cellulose powder) and SPPL. (Transferor company 2) (engaged in the manufacture and sale of Micro crystalline cellulose powder) have been amalgamated into SIPL (Transferee Company) on 07.07.2014 with retrospective effect from 01.04.2013 (appointed date), in terms of the scheme of amalgamation duly sanctioned by the Hon'ble High Court of Hyderabad vide its Order dated 7th July 2014. Pursuant to the terms of order of the Hon'ble High Court of Hyderabad, SCPL and SPPL stood dissolved without winding up and accordingly the entire assets, liabilities, licenses, limits of SCPL and SPPL with the banks, permissions, pending cases, employees has been transferred to and vest in the company

 

ii) The Amalgamation is in the nature of" Pooling of interest" method as defined in AS-14, Accounting for Amalgamation issued by the Central Government under section 211 (3C) of the Companies Act, 1956 and is accounted accordingly. This results in the transfer of assets and liabilities and issue of shares towards payment of consideration at the following summarized scheme.

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

From directors

3.797

0.670

From Banks

1.169

0.000

Sales tax Deferral

3.704

3.704

Inter Corporate Deposit

12.500

0.000

SHORT TERM BORROWING

 

 

Working capital borrowings from banks

6.974

0.000

Total

28.144

4.374

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10590058

05/08/2015

750,000.00

CANARA BANK

SME BRANCH, PRASHANTHI NAGAR, KUKATPALLY,, HYDERA
BAD, TELANGANA - 500072, INDIA

C63671390

2

10582879

04/07/2015

700,000.00

CANARA BANK

SME BRANCH, PRASANTHI NAGAR, KUKATPALLY, HYDERABA
D, TELANGANA - 500072, INDIA

C60224375

3

10522198

21/06/2014

637,000.00

SREI EQUIPMENT FINANCE LIMITED

'VISHWAKARMA', 86C, TOPSIA ROAD,, KOLKATA, WEST BE
NGAL - 700046, INDIA

C22732374

4

10271513

05/03/2014 *

145,500,000.00

CANARA BANK

CANARA BANK, HYDERABAD, ANDHRA PRADESH - 500001, I
NDIA

C02927960

5

10271515

19/07/2012 *

138,500,000.00

CANARA BANK

BASHIRBAGH BRANCH, HYDERABAD, ANDHRA PRADESH - 500
001, INDIA

B57706723

6

10269964

11/03/2013 *

135,160,000.00

CANARA BANK

BASHIRBAGH BRANCH, HYDERABAD, ANDHRA PRADESH - 500
029, INDIA

B73793226

7

10258379

14/08/2013 *

48,331,000.00

BANK OF BARODA GNFC COMPLEX BRANCH

GNFC CORPORATE COMPLEX, PO- NARMADANAGAR, BHARUCH
, GUJARAT - 392015, INDIA

B82261819

8

10285767

14/08/2013 *

48,331,000.00

BANK OF BARODA GNFC COMPLEX BRANCH

GNFC CORPORATE COMPLEX, PO- NARMADANAGAR, BHARUCH
, GUJARAT - 392015, INDIA

B82260878

9

80004060

03/11/2015 *

336,877,000.00

CANARA BANK

SME BRANCH, PRASHANTHI NAGAR, KUKATPALLY,, HYDERA
BAD, TELANGANA - 500072, INDIA

C71249841

 

* Date of charge modification

 

FIXED ASSETS

 

  • Land
  • Building
  • Plant and Machinery
  • Furniture and Fixures
  • Office Equipment
  • Vehicles
  • Lab 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.66.62

UK Pound

1

Rs.100.34

Euro

1

Rs.70.67

 

 

INFORMATION DETAILS

 

Information Gathered by :

KAM

 

 

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

5

--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

 

48

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.