MIRA INFORM REPORT
|
Report No. : |
353725 |
|
Report Date : |
10.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
LOXIM INDUSTRIES LIMITED (w.e.f. 15.04.2008) |
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Formerly Known
As : |
LOXIM INDUSTRIES PRIVATE LIMITED (w.e.f. 30.08.2006) LOXIM COLORS PRIVATE LIMITED |
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Registered
Office : |
803, Shilp Building, C.G. Road, Navrangpura, Ahmedabad – 380009,
Gujarat |
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Tel. No.: |
91-79-30800000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
29.08.2003 |
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Com. Reg. No.: |
04-042820 |
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Capital
Investment / Paid-up Capital : |
Rs.73.580
Million |
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CIN No.: [Company Identification
No.] |
U24114GJ2003PLC042820 |
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IEC No.: |
0805017135 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
AHML00584D |
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PAN No.: [Permanent Account No.] |
AAACL9043M |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer
of Chemical Dyestuff and Plastic Granules. [Registered Activity] |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 670000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 2003 having satisfactory track. The company has achieved decent revenue base marked satisfactory
profitability margin. Operational performance has improved as compared as
compared to previous year. The company possesses adequate networth base but reported moderate
debt level and decline in its cash accruals. Trade relations are fair. Business is active. Payments are slow but
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.
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 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities= BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
07.09.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities= A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
07.09.2015 |
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 DENIED
Management Non Co-operative (91-79-30800000)
LOCATIONS
|
Registered Office/ Head
Office and SBU - Dyes : |
803, Shilp Building, C.G. Road, Navrangpura, Ahmedabad – 380009,
Gujarat, India |
|
Tel. No.: |
91-79-30800000/ 26404727 |
|
Tel. No.: |
91-7377525313 ( Mr. Jaimin) |
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Fax No.: |
91-79-26467488/ 30800001 |
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E-Mail : |
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Website : |
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Unit I : |
185/ 2, Opposite Gujarat Refectories, IYAVA, Vasna, Sanand Virmgam
Highway, Ahmedabad – 382110, Gujarat, India |
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SBU – Polymers/
Unit II : |
Plot No. 184, Sanand-Viramgam Highway, IYAVA Village,
Sanand, District Ahmedabad – 382110, Gujarat, India |
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Tel. No.: |
91-2717-308000 |
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Fax No.: |
91-2717-308001 |
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E-Mail : |
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Unit III : |
Plot No.105/ 109-A, ECPL Road, Billage Ekalbara, Padra – 391440, Vadodara, Gujarat, India |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Jayprakash Maneklal Patel |
|
Designation : |
Chairman Cum Whole-time Director |
|
Address : |
Anik 13, Kairvi Bunglow, Vastrapur, Ahmedabad – 380054, Gujarat, India
|
|
Date of Birth/Age : |
09.02.1948 |
|
Date of Appointment : |
01.04.2012 |
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PAN No.: |
ABCPP1959N |
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DIN No.: |
00256790 |
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|
Name : |
Mr. Canon Jayprakash Patel |
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Designation : |
Managing Director |
|
Address : |
Anik 13, Kairvi Bunglow, Vastrapur, Ahmedabad – 380054, Gujarat, India
|
|
Date of Birth/Age : |
06.11.1974 |
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Date of Appointment : |
01.04.2012 |
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PAN No.: |
AAWPP0924A |
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DIN No.: |
00078065 |
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Name : |
Ms. Falguni Canon Patel |
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Designation : |
Additional Director |
|
Address : |
Anik 13, Kairvi Bunglow, Vastrapur, Ahmedabad – 380054, Gujarat, India
|
|
Date of Birth/Age : |
20.06.1978 |
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Date of Appointment : |
29.09.2008 |
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PAN No.: |
ACOPS3488J |
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DIN No.: |
00078102 |
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|
|
|
Name : |
Mr. Jayesh Pravinchandra Mehta |
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Designation : |
Additional Director |
|
Address : |
C/33, Satellite Apartments, Satelite Road, Ahmedabad – 380015,
Gujarat, India |
|
Date of Birth/Age : |
18.08.1967 |
|
Date of Appointment : |
30.09.2011 |
|
DIN No.: |
02140233 |
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|
|
|
Name : |
Mr. Rahul Jitendrakumar Shah |
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Designation : |
Additional Director |
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Address : |
258, Archna Bunglow, Opposite Swaminarayan Gurukul, Memnagar, Ahmedabad – 380052, Gujarat, India |
|
Date of Appointment : |
16.03.2015 |
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DIN No.: |
00825780 |
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Name : |
Mr. Sunil Bansibhai Shah |
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Designation : |
Additional Director |
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Address : |
A-301 Sepal Residency Opposite A-One
School, Opposite Ashwamegh 5 Satellite, Ahmedabad – 380015, Gujarat, India |
|
Date of Appointment : |
16.03.2015 |
|
DIN No.: |
02107662 |
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Name : |
Mr. Adityabhai Piyushbhai Shah |
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Designation : |
Additional Director |
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Address : |
A-1103, Heritage Skyz, Satellite, Ahmedabad
– 380015, Gujarat, India |
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Date of Appointment : |
16.03.2015 |
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DIN No.: |
03203052 |
KEY EXECUTIVES
|
Name : |
Mr. Devendra P Shah |
|
Designation : |
Secretary |
|
Address : |
A/1, Shamwi Apartment, 140, Sardar Patel Colony, Ahmedabad – 380014, Gujarat, India |
|
Date of Birth/Age : |
20.08.1951 |
|
Date of Appointment : |
16.05.2011 |
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PAN No.: |
ANVPS7137A |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Canon Patel |
|
2464730 |
|
Falguni Patel |
|
1214070 |
|
Jayprakash Patel |
|
2464730 |
|
Hina Patel |
|
1214070 |
|
Surendra Patel |
|
100 |
|
Dinesh Chandra Patel |
|
100 |
|
Girish Shah |
|
100 |
|
Jayesh Mehta |
|
100 |
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|
|
|
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Total |
|
7358000 |
AS ON 08.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Chemical Dyestuff and Plastic Granules. [Registered 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 : |
Not Divulged |
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Bankers : |
· Axis Bank Limited, Trishul, 3rd Floor, Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad – 380006, Gujarat, India · State Bank of India, Madhupura Branch, Advani Market, O/S Delhi Darwaja, Ahmedabad – 380004, Gujarat, India |
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Facilities : |
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Auditors : |
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Name : |
Dharmesh Parikh and Company Chartered Accountants |
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Address : |
303 / 304, "Milestone", Near Drive - in - Cinema, Opposite T.V. Toweer, Thaltej, Ahmedabad – 380054, Gujarat, India |
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PAN No.: |
AAGFD1279G |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates : |
· Dye-O-Print (Guj) Private Limited [CIN No.: U24231GJ1984PTC006946] · Jay Prakash M Patel HUF |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Million |
|
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Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7358000 |
Equity Shares |
Rs.10/- each |
Rs.73.580
Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
73.580 |
73.580 |
73.580 |
|
(b) Reserves & Surplus |
160.927 |
114.039 |
80.862 |
|
(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) |
234.507 |
187.619 |
154.442 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
181.081 |
167.047 |
199.054 |
|
(b) Deferred tax liabilities (Net) |
33.374 |
25.028 |
28.731 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
1.345 |
1.324 |
0.963 |
|
Total Non-current
Liabilities (3) |
215.800 |
193.399 |
228.748 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
402.379 |
318.917 |
170.583 |
|
(b) Trade
payables |
178.979 |
108.549 |
86.871 |
|
(c) Other
current liabilities |
20.973 |
55.733 |
69.241 |
|
(d) Short-term
provisions |
21.605 |
0.255 |
1.349 |
|
Total Current
Liabilities (4) |
623.936 |
483.454 |
328.044 |
|
|
|
|
|
|
TOTAL |
1074.243 |
864.472 |
711.234 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
266.446 |
269.150 |
280.370 |
|
(ii)
Intangible Assets |
0.278 |
0.479 |
0.460 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.001 |
0.001 |
0.006 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
42.181 |
59.321 |
50.876 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
308.906 |
328.951 |
331.712 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
248.072 |
148.116 |
133.810 |
|
(c) Trade
receivables |
450.530 |
316.944 |
177.483 |
|
(d) Cash
and cash equivalents |
29.273 |
42.059 |
38.978 |
|
(e)
Short-term loans and advances |
34.681 |
12.420 |
12.294 |
|
(f) Other
current assets |
2.781 |
15.982 |
16.957 |
|
Total
Current Assets |
765.337 |
535.521 |
379.522 |
|
|
|
|
|
|
TOTAL |
1074.243 |
864.472 |
711.234 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
1084.417 |
813.800 |
645.156 |
|
|
|
|
Other Income |
4.500 |
5.027 |
3.310 |
|
|
|
|
TOTAL (A) |
1088.917 |
818.827 |
648.466 |
|
|
|
|
|
|
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||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
670.734 |
564.943 |
438.780 |
|
|
|
|
Purchase of Stock-in-trade |
2.358 |
1.070 |
0.000 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
10.262 |
(4.843) |
(9.017) |
|
|
|
|
Employee Benefits Expenses |
50.642 |
44.156 |
40.135 |
|
|
|
|
Other Expenses |
167.492 |
133.812 |
120.633 |
|
|
|
|
TOTAL (B) |
901.488 |
739.138 |
590.531 |
|
|
|
|
|
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||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
187.429 |
79.689 |
57.935 |
||
|
|
|
|
|
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||
|
Less |
FINANCIAL
EXPENSES (D) |
67.536 |
33.758 |
33.377 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
119.893 |
45.931 |
24.558 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
16.641 |
15.777 |
15.063 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
103.252 |
30.154 |
9.495 |
||
|
|
|
|
|
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||
|
Less |
TAX (H) |
58.963 |
(1.510) |
2.595 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
44.289 |
31.664 |
6.900 |
||
|
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|
|
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||
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
650.230 |
382.417 |
307.188 |
|
|
|
|
|
|
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||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
317.004 |
390.135 |
184.583 |
|
|
|
|
Stores & Spares |
1.706 |
0.266 |
17.212 |
|
|
|
TOTAL IMPORTS |
318.710 |
390.401 |
201.795 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
6.02 |
4.30 |
0.94 |
||
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
5.104 |
34.887 |
49.864 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
(25.960) |
(60.743) |
19.927 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
4.08 |
3.89 |
1.07 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
17.28 |
9.79 |
8.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
9.61 |
3.49 |
1.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.44 |
0.16 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.51 |
2.78 |
2.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23 |
1.11 |
1.16 |
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 |
73.580 |
73.580 |
73.580 |
|
Reserves & Surplus |
80.862 |
114.039 |
160.927 |
|
Net
worth |
154.442 |
187.619 |
234.507 |
|
|
|
|
|
|
long-term borrowings |
199.054 |
167.047 |
181.081 |
|
Short term borrowings |
170.583 |
318.917 |
402.379 |
|
Current Maturities of Long term debt |
49.864 |
34.887 |
5.104 |
|
Total
borrowings |
419.501 |
520.851 |
588.564 |
|
Debt/Equity
ratio |
2.716 |
2.776 |
2.510 |
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 |
645.156 |
813.800 |
1084.417 |
|
|
|
26.140 |
33.254 |
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
|
645.156 |
813.800 |
1084.417 |
|
Profit |
6.900 |
31.664 |
44.289 |
|
|
1.07% |
3.89% |
4.08% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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 |
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 |
OPERATION
The total income of the Company was Rs. 1088.917 million, as compared to last year's income of Rs. 818.827 million, which shows increase of more than 25% over last year. Profit before depreciation and interest stood at Rs. 187.429 million as against last year of Rs. 79.689 million. The Net profit after tax stood at Rs. 44.289 million as compared to last years of Rs. 31.664 million. Overall the performance of the Company is good, considering the general market scenario in India as well as other parts of the World.
FUTURE
PROSPECTS
There is an overall volatility in global economy, owing to which the Directors feel that being vigilant is the need of the hour. Consolidation in working will ensure a better future standing of the Company. At the same time, exploring new, small but niche markets will be of prime importance this year.
Dyes unit of the Company is going good, both at export front as well as in domestic market, due to change of strategy of different product mix, as started in last year. Since the automobile sector is not doing good, the sales of Polymer division are bound to effect on profitability. However, in current year, more focus will be given to this unit to achieve good turnover. The focus on plastics will continue enabling stability in both turnover and profitability.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Intercorporate deposits |
0.000 |
10.022 |
|
Loans and advances from related parties |
176.941 |
150.751 |
|
Other loans and advances |
1.650 |
0.082 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
Intercorporate deposits |
26.212 |
10.023 |
|
|
|
|
|
Total |
204.803 |
170.878 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10515266 |
26/06/2014 |
9,500,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
C16643991 |
|
2 |
10442999 |
07/08/2013 |
10,000,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
B82096066 |
|
3 |
10432133 |
06/06/2013 |
685,335.00 |
AXIS BANK LIMITED |
RAC AHMEDABAD, CV/ CE DEPARTMENT, 4TH FLOOR, SHIVALIK ISHAN, NR. C. N. VIDHYALAYA, AMBAWADI, AHMEDABAD, GUJARAT - 380006, INDIA |
B77531515 |
|
4 |
10369847 |
16/03/2015 * |
350,000,000.00 |
STATE BANK OF INDIA |
C/1-5,
ADVANCE BUSINESS PARK,, OPP. SWAMINARAYAN |
C49944226 |
|
5 |
10246970 |
22/10/2010 |
220,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D,, NARIMAN POINT,, MUMBAI, MAHARASHTRA - 400021, INDIA |
A97340731 |
|
6 |
10246892 |
08/09/2010 |
200,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D,, NARIMAN POINT,, MUMBAI, MAHARASHTRA - 400021, INDIA |
A97130793 |
|
7 |
10128031 |
13/01/2015 * |
211,900,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
C40633810 |
|
8 |
10152242 |
25/08/2014 * |
211,900,000.00 |
AXIS BANK LIMITED |
TRISHUL
3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW G |
C20804670 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Laboratory Equipments
·
Furniture
·
Office Equipments
·
Vehicles
·
Communication Equipments
·
Computer
·
Air Conditioner
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 records 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.66.75 |
|
|
1 |
Rs.100.29 |
|
Euro |
1 |
Rs.72.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
AMR |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
5 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
|
45 |
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.