MIRA INFORM REPORT

 

 

Report No. :

353267

Report Date :

07.12.2015

 

IDENTIFICATION DETAILS

 

Name :

CHIRIPAL POLY FILMS LIMITED

 

 

Registered Office :

109/110, Peninsula Centre, Dr. S.S. Rao Road, Parel, Mumbai – 400012, Maharashtra

Tel. No.:

91-22-66604123

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

31.08.2009

 

 

Com. Reg. No.:

11-195352

 

 

Capital Investment / Paid-up Capital :

Rs.46.960 Million

 

 

CIN No.:

[Company Identification No.]

U17120MH2009PLC195352

 

 

IEC No.:

0810007266

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AADCC7403M

 

 

Legal Form :

A Closely Held Public Limited Liability Company.

 

 

Line of Business :

Manufacturer, Importer and Exporter of Biaxially Oriented Poly Propylene (BOPP) Films. (Confirmed by management)

 

 

No. of Employees :

250 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (46)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct 

 

 

Litigation :

Clear

 

 

Comments :

Subject was established in the year 2009 and it is a manufacturer and exporter of biaxially oriented poly propylene (bopp) films.

 

For the financial year ended 2014, company has reported 43.28% sales turnover growth as compared to previous sales turnover and it has maintained average profitability margin at 2.85% during the year under a review.

 

Rating takes into consideration company's healthy operating efficiencies supported by above average financial profile along with sound net worth base and moderate debt coverage indictors.

 

Trade relations are reported as fair. Payment terms are reported to be usually correct.

 

In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition.

 

Note: As per registrar of companies the date of balance sheet (i. e. financial filed) is shown as 31.03.2015 but the documents related to the financial for the year 31.03.2015 are not available from any source.

 

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

Cash Credit: BBB- (Suspended)

Rating Explanation

Moderate degree of safety and moderate credit risk.

Date

04.09.2015

 

Rating Agency Name

CRISIL

Rating

Import Letter of Credit :A3 (Suspended)

Rating Explanation

Moderate degree of safety and higher credit risk.

Date

04.09.2015

 

Reason of Suspension: Absence of adequate information.

 

 

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 PARTED BY

 

Name :

Mr. Pratik Shah

Designation :

Accounts Manager

Contact No.:

91-9727768078

Date :

04.12.2015

 

 

LOCATIONS

 

Registered Office/ Branch Office :

109/110, Peninsula Centre, Dr. S.S. Rao Road, Parel, Mumbai – 400012, Maharashtra, India

Tel. No.:

91-22-66604123

Mobile No.:

91-9727768078 (Mr. Pratik Shah)

Fax No.:

91-22-66604123

E-Mail :

purvee@chiripalgroup.com

cs.gen@chiripalgroup.com

Website :

http://www.chiripalgroup.com

http://chiripalpolyfilms.in

Location :

Owned

Locality:

Commercial

 

 

Corporate Office (Correspondence Address)  :

Chiripal House, Shivranjani Cross Roads, Satellite, Ahmedabad – 380015, Gujarat, India

Tel. No.:

91-79-26473302

Fax No.:

91-79-26768656

 

 

Factory :

Plot No.14, Vraj Integrated Textile Park, N.H. No.8, Kheda, Ahmedabad – Baroda Highway, Village Bidaj, Taluka and District Kheda – 397420, Gujarat, India

 

 

DIRECTORS

 

As on: 31.03.2015

 

Name :

Mr. Jaiprakash Devkinandan Chiripal

Designation :

Managing director

Address :

10, Nandi Hill Society, Satellite Road, Ahmedabad - 380 013, Gujarat, India

Date of Birth/Age :

02.11.1959

Date of Appointment :

31.08.2009

DIN No.:

00155430

 

 

Name :

Mr. Neeraj Kakkar

Designation :

Whole-time director

Address :

B – 24, Sachin Tower, 100 Ft Road, Near IOCL Petrol Pump, Ahmedabad – 380015, Gujarat, India

Date of Birth/Age :

14.09.1955

Date of Appointment :

12.04.2013

DIN No.:

06562223

 

Name :

Mr. Jyotiprasad Devkinandan Chiripal

Designation :

Director

Address :

91, Basant Bahar Bunglow, Bopal, Ahmedabad – 380058, Gujarat, India

Date of Birth/Age :

21.08.1953

Date of Appointment :

23.04.2015

DIN No.:

00155695

 

 

Name :

Mr. Vedprakash Devkinandan Chiripal

Designation :

Director

Address :

11, Nandi Hill Society, Satellite Road, Ahmedabad - 380013, Gujarat, India

Date of Birth/Age :

21.11.1951

Date of Appointment :

31.08.2009

DIN No.:

00290454

 

 

Name :

Mr. Hemendrakumar Chamanlal Shah

Designation :

Director

Address :

F/701, Tulip Citadel, Opposite ESIC Staff Quarters, Shreyas Tekra, Ambawadi, Ahmedabad - 380015, Gujarat, India

Date of Appointment :

31.03.2015

DIN No.:

00077654

 

 

Name :

Mr. Renuka Anjanikumar Upadhyay

Designation :

Director

Address :

A-504, Safal Parisar -2, Bopal, Ahmedabad - 380058, Gujarat, India

Date of Appointment :

11.06.2015

DIN No.:

07148637

 

 

KEY EXECUTIVES

 

Name :

Mr. Pratik Shah

Designation :

Accounts Manager

 

 

MAJOR SHAREHOLDERS

 

As on: 31.03.2015

 

Name of shareholder

No of shares

Mr. Jaiprakash Chiripal

264000

Mr. Ved Prakash Chiripal

256000

Mr. Jyotiprasad Chiripal

256000

Mr. Vishal Chiripal

488000

Mr. Deepak Chiripal

488000

Mr. Rajesh Bindal

4000

Mr. Amit Bindal

4000

Mr. Brijmohan D Chiripal

200000

Ms. Priyanka B Agarwal

240000

Mrs Manjudevi J Chiripal

1000000

Ms. Nidhi J Agarwal

300000

Ms. Ruchi B Agarwal

260000

Mr. Ronak B Agarwal

400000

Mrs. Pritidevi B Chiripal

400000

Mrs. Urmiladevi J Agarwal

480000

Mrs. Savitridevi V Chiripal

480000

Mrs. Vineeta V Chiripal

340000

Mrs. Nikita D Chiripal

340000

Kautilya Traders Private Limited

662000

Vijay Subham Contrade Private Limited

51620

Orange Mauritius Investment Limited.

792000

Opulence Investments Limited

742928

Platinummic FZE

134993

Monil Chiripal

122440

Bhushan Petrofils Private Limited

95240

Dindayal Processors Private Limited

95240

Tripoli Management Private Limited

47620

Chiripal Industries Limited

95240

Bhavana Textiles Private Limited

95238

Shanti Exports Private Limited

95240

Hexa International Private Limited

95240

Golden Multitrade FZE

88308

Devkinandan LLP

160000

 

 

Total

9573347

 

As on: 09.11.2015

 

Name of Allottees 

No of shares

 

 

Waldorf Investment Limited, Mauritius

751879

Total

751879

 

As on: 23.04.2015

 

Name of Allottees 

No of shares

 

 

Nova Dynamic, Mauritius

529038

Total

529038

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on: 30.09.2014

 

Category

Percentage

Foreign holdings( Foreign institutional investor(s), Foreign companies(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others

18.09

Bodies corporate

14.19

Directors or relatives of Directors

67.63

Other

0.09

Total

100.00

 

 

 

BUSINESS DETAILS

 

 Line of business:

Manufacturer, Importer and Exporter of Biaxially Oriented Poly Propylene (BOPP) Films. (Confirmed by management)

 

 

Products:

Category

ITC Code

Poly Proplene Films

39202020

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Poly Proplene Films

Countries :
  • Middle East Countries
  • European Countries
  • Asian Countries
  • African Countries

 

 

Imports :

 

Products :

Raw Material

Countries :
  • UAE
  • Thailand
  • Singapore

 

 

Terms :

 

Selling :

L/C, Cash, Cheque and Credit (30,60 Days Depend )

 

 

Purchasing :

L/C, Cash, Cheque and Credit (30,60 Days Depend )

 

PRODUCTION STATUS = NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Reliance Indsutries Limited

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Wholesalers, Retailers and End Users

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

250 (Approximately)

 

 

Bankers :

Banker Name

Oriental Bank of Commerce

Branch Address

Large Corporate Branch, 181-A, Maker Tower 'E', 18th Floor, Cuffe Parade, Mumbai - 400005, Maharashtra, India

Person Name (With Designation)

Not Available 

Contact Number

91-22-43023117/41 (Continuously Ringing)

Name of Account Holder

Not Available 

Account Number

Not Available 

Account Since (Date/Year of Account Opening)

Not Available 

Average Balance Maintained (If Possible)

Not Available 

Credit Facilities Enjoyed (If any)

Not Available 

Account Operation

Not Available 

Remarks (If any)

Not Available 

 

 

Banker Name

Punjab National Bank

Branch Address

Mid Corporate Branch, 12/14, Brady House, V.N. Road, Fort, Mumbai- 400023, Maharashtra, India

Person Name (With Designation)

Not Available 

Contact Number

91-22-22833793 (Ringing)

Name of Account Holder

Not Available 

Account Number

Not Available 

Account Since (Date/Year of Account Opening)

Not Available 

Average Balance Maintained (If Possible)

Not Available 

Credit Facilities Enjoyed (If any)

Not Available 

Account Operation

Not Available 

Remarks (If any)

Not Available 

 

 

Facilities :

(Rs. In Million)

SECURED LOANS

31.03.2014

Rs. In Million

31.03.2013

Rs. In Million

Long Term Borrowings

 

 

Rupee term loans from banks

1077.631

0.000

Foreign currency term loans from banks

2100.788

0.000

Borrowing from foreign institutional agencies

0.000

1516.599

Borrowing from government semi-government bodies

0.000

1.043

Short Term Borrowings

 

 

Working capital loans from banks

0.000

363.147

Loans repayable on demand from banks

579.386

0.000

Total

3757.805

1880.789

 

 

 

Financial Institute:

PNB Investment Services Limited, C/o PNB Circle Office, 6th Floor , Gujarat Bhavan, Near M J Library, Ashram Road., Ahmedabad -380009, Gujarat, India

 

 

Auditors :

 

Name :

C N Somani and Associates

Chartered Accountants

Address :

91, Hirabhai Market, Kakaria, Ahmedabad - - 380022, Gujarat, India

PAN No.:

AMYPS6567L

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Subsidiary Company:
  • CPF Packaging FZE, India

 

 

Enterprise over which key management personnel exercise significant influence :

  • Vraj Integrated Textile Park Limited, India

CIN No.: U45300GJ2005PLC047423

  • Chiripal Industries Limited, India

CIN No.: U17110GJ1988PLC010634

  • Saprow Exports Private Limited, India

CIN No.: U74899DL1994PTC062794

  • Vishal Fabrics Private Limited, India

CIN No.: U17110GJ1985PTC008206

  • Nandan Exim Limited

CIN No.: L51909GJ1994PLC022719

 

 

CAPITAL STRUCTURE

 

AFTER 02.09.2015

 

Authorized Capital: Rs. 150.000 Million

 

Issued, Subscribed & Paid-up Capital: Rs. 112.016 Million

 

As on 31.03.2014

 

Authorized Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

10000000

Equity Shares

Rs.10/- each

Rs.100.000 Million

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

4696027

Equity Shares

Rs.10/- each

Rs.46.960 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

46.960

43.417

19.851

(b) Reserves & Surplus

1423.202

851.314

420.378

(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)

1470.162

894.731

440.229

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

3741.273

1802.930

1754.540

(b) Deferred tax liabilities (Net)

148.470

107.467

22.387

(c) Other long term liabilities

14.864

29.545

101.928

(d) long-term provisions

1.516

0.843

0.337

Total Non-current Liabilities (3)

3906.123

1940.785

1879.192

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

579.386

363.147

38.360

(b) Trade payables

694.706

352.901

94.432

(c) Other current liabilities

389.253

248.156

199.056

(d) Short-term provisions

1.305

30.106

3.006

Total Current Liabilities (4)

1664.650

994.310

334.854

 

 

 

 

TOTAL

7040.935

3829.826

2654.275

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

4652.517

2216.867

2,162.168

(ii) Intangible Assets

68.694

70.492

68.145

(iii) Capital work-in-progress

3.183

152.790

0.000

(iv) Intangible assets under development

0.000

0.000

4.048

(b) Non-current Investments

6.524

4.270

12.864

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d) Long-term Loan and Advances

60.655

34.072

17.606

(e) Other Non-current assets

0.000

1.700

1.700

Total Non-Current Assets

4791.573

2480.191

2266.531

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

340.145

220.111

113.926

(c) Trade receivables

1587.174

817.925

78.999

(d) Cash and cash equivalents

82.153

54.945

85.635

(e) Short-term loans and advances

227.380

254.074

104.26

(f) Other current assets

12.510

2.580

4.924

Total Current Assets

2249.362

1349.635

387.744

 

 

 

 

TOTAL

7040.935

3829.826

2654.275

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

7140.602

4,958.539

397.403

 

Other Income

(23.512)

9.039

1.171

 

TOTAL                                    

7117.090

4,967.578

398.574

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

6004.117

4,369.151

332.894

 

Changes in Inventories of finished goods, work-in-progress and stock-in-trade

(59.783)

 

(112.314)

(53.127)

 

Employee Benefits Expenses

62.763

47.768

8.761

 

Other Expenses

430.984

230.465

44.227

 

TOTAL                                    

6438.081

4,535.070

332.755

 

 

 

 

 

Less

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

679.009

432.508

65.819

 

 

 

 

 

Less

FINANCIAL EXPENSES                                   

266.746

165.400

29.046

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

412.263

267.108

36.773

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION                    

164.380

120.864

21.698

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX 

247.883

146.244

15.075

 

 

 

 

 

Less

TAX                                                     

44.513

81.779

25.625

 

 

 

 

 

 

PROFIT/(LOSS) AFTER TAX

203.370

64.465

(10.550)

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

54.084

 

(10.381)

0.169

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

257.454

54.084

(10.381)

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

Export Earnings

809.900

318.207

0.000

 

TOTAL EARNINGS

809.900

318.207

0.000

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

NA

222.562

1.519

 

TOTAL IMPORTS

NA

222.562

1.519

 

 

 

 

 

 

Earnings Per Share (Rs.)

43.30

14.85

(5.47)

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

8470.000

 

Expected Sales (2015-2016) : Rs.1100.000 Million

 

The above information has been parted by Mr.Pratik Shah (Account Manager).

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

211.425

209.989

150.163

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

236.845

(492.826)

122.509

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

PAT / sales

(%)

2.85

1.30

(2.65)

 

 

 

 

 

Profit Operating Margin

(PBIDT/Sales)

(%)

9.51

8.72

16.56

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

3.53

3.98

0.57

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.17

0.16

0.03

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.94

2.42

4.07

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.35

1.36

1.16

 

 

 

 

 

FINANCIAL ANALYSIS

[All figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

19.851

43.417

46.960

Reserves & Surplus

420.378

851.314

1423.202

Net worth

440.229

894.731

1470.162

 

 

 

 

long-term borrowings

1754.540

1802.930

3741.273

Short term borrowings

38.360

363.147

579.386

Current Maturities of Long Term Debt

150.163

209.989

211.425

Total borrowings

1943.063

2376.066

4532.084

Debt/Equity ratio

4.414

2.656

3.083

 

 

 

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)

Sales

397.403

4958.538

7140.602

 

 

1147.735

44.006

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

397.403

4958.538

7140.602

Profit

(10.550)

64.465

203.370

 

(2.65%)

1.30%

2.85%

 

 

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

----------------------

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

Yes

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

----------------------

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last four years

Yes

27

Reasons for variation <> 20%

----------------------

28

Estimation for coming financial year

Yes

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

----------------------

33

Market information

----------------------

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

PERFORMANCE:

 

The Company has earned income of Rs. 7149.000 Million compared to last year’s income of Rs. 4967.600 Million. The Company has earned Profit before Tax of Rs. 247.900 Million as compared to last year’s profit of Rs. 146.200 Million. The Net Profit during the year is Rs. 203.400 Million as compared to last year’s profit of Rs. 64.500 Million during the previous year. Your Company expects to have better performance during the current year.

 

 

UNSECURED LOANS:

 

Particulars

31.03.2014

Rs. In Million

31.03.2013

Rs. In Million

Long Term Borrowings

 

 

Interoperate borrowings

562.854

285.288

Total

562.854

285.288

 

 

INDEX OF CHARGE:

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10569997

21/05/2015

1,250,000,000.00

PNB Investment Services Limited

C/o PNB Circle Office, 6th Floor , Gujarat Bhavan, 
Near M J Library, Ashram Road., Ahmedabad, Gujarat - 380009, INDIA

C53935367

2

10569999

21/05/2015

1,250,000,000.00

PNB Investment Services Limited

C/o PNB Circle Office, 6th Floor , Gujarat Bhavan, 
Near M J Library, Ashram Road., Ahmedabad, Gujarat - 380009, INDIA

C53936183

3

10414082

15/10/2014 *

2,207,130,000.00

PNB INVESTMENT SERVICES LIMITED

C/o Punjab National Bank,Circle Office ,6th Floor, Gujarat Bhavan, Nr M J Library, Ashram Road, Ahmedabad, Gujarat - 380009, INDIA

C32731184

4

10414083

15/10/2014 *

3,307,130,000.00

PNB INVESTMENT SERVICES LIMITED

C/O Punjab National Bank, Circle Office, 6th Floor 
, Gujarat Bhavan , Nr M J Library, Ashram Road, Ahmedabad, Gujarat - 380009, INDIA

C32732653

5

10397651

19/12/2012

1,165,753,368.00

KBC BANK DEUTSCHLAND AG

EXPORT FINANCE DEPARTMENT, WACHSTRASSE 16, BREMEN, - 28195, GERMANY

B66119975

6

10343631

03/02/2012

1,100,000,000.00

PUNJAB NATIONAL BANK

MID CORPORATE BRANCH, 12/14, BRADY HOUSE, V.N. RO 
AD, FORT, MUMBAI, Maharashtra - 400023, INDIA

B35605591

7

10343635

03/02/2012

1,100,000,000.00

PUNJAB NATIONAL BANK

MID CORPORATE BRANCH, 12/14, BRADY HOUSE, V.N. RO 
AD, FORT, MUMBAI, Maharashtra - 400023, INDIA

B35607514

8

10299434

03/02/2012 *

1,820,000,000.00

ORIENTAL BANK OF COMMERCE

LARGE CORPORATE BRANCH, 181-A, MAKER TOWER 'E', 18TH FLOOR, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA

B35606219

9

10299431

15/06/2011

370,000,000.00

ORIENTAL BANK OF COMMERCE

LARGE CORPORATE BRANCH, 181-A, MAKER TOWER, 'E' 1 
8TH FLOOR, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA

B17771981

10

10294365

11/05/2011

350,000,000.00

PUNJAB NATIONAL BANK

MCB, BRADY HOUSE, V. N. ROAD, FORT, MUMBAI, Maharashtra - 400023, INDIA

B15885304

 

*Date of modification Charges

 

FIXED ASSETS:

 

·         Land

·         Building

·         Plant and Machinery

·         Computer

·         Vehicles

·         Furniture and Fixture

·         Office Equipments

·         Leasehold improvements

 

 

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.66.84

UK Pound

1

Rs.101.04

Euro

1

Rs.73.05

 

 

INFORMATION DETAILS

 

Information Gathered by :

KAM

 

 

Analysis Done by :

KAR

 

 

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

4

--RESERVES

1~10

5

--CREDIT LINES

1~10

4

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

 

 

 

TOTAL

 

46

 

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.