MIRA INFORM REPORT
|
Report No. : |
354267 |
|
Report Date : |
11.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
PRABHAT DAIRY LIMITED
(w.e.f. 19.03.2015) |
|
|
|
|
Formerly Known
As : |
PRABHAT
DAIRY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
121/2A, At Post Ranjankholrahata, Shrirampur, Ahmednagar – 413720, Maharashtra |
|
Tel. No.: |
91-9763727737 (Mr. Shirish Borle) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
25.11.1998 |
|
|
|
|
Com. Reg. No.: |
11-013068 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.271.379 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15203PN1998PLC013068 |
|
|
|
|
IEC No.: |
3109008475 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCP8872E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Supplier of Dairy Product and Milk
Powder such as Dairy Whitener,
Sweetened Condensed Milk, Flava Flavored Milk, Ghee, Concentrated Milk ,
Skimmed Milk Powder and Whole
Milk Powder. (From
Indirect Sources) |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
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 : |
--- |
|
|
|
|
Comments : |
Subject is promoted by Shrirampur (Ahmednagar) based Nirmal family, it is engaged in procuring, processing and distributing milk and milk products majorly in Western Maharashtra. The company has two indirect 100% subsidiaries “Sunfresh Agro Industries Private Limited” and “Prabhat Nutritious and Frozen Food Industries Private Limited” with all three companies present in similar business and there are strong operational and financial linkages within the group companies. Rating takes into consideration on company satisfactory financial profile because of strong capital structure, negligible debt, healthy liquidity and equity infusion by its promoter during the year under review. The rating is however constrained by client concentration risk, high geographic concentration of sales and inherent vulnerability of dairy industry to Government regulations, epidemic related factors and healthy competition from well-established peers. However, trade relations are fair. Business is active. Payments terms reported to be usually correct. The company can be considered for business dealing 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 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term loan =
BBB- (Suspended) |
|
Rating Explanation |
Moderate degree of
safety and moderate credit risk. |
|
Date |
October 2014 |
Reason of Suspension: Absence of requisite 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 DENIED BY
|
Name : |
Mr. Shirish Borle |
|
Designation : |
Senior Executive Finance |
|
Contact No.: |
91-9763727737 |
|
Date : |
10.12.2015 |
LOCATIONS
|
Registered Office : |
121/2A, At Post Ranjankholrahata, Shrirampur, Ahmednagar – 413720, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9763727737 (Mr. Shirish Borle) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
D-37/4, TTC Industrial Area, Turbhe, MIDC, Thane Belapur Road, Navi Mumbai - 400705, Maharashtra, India |
|
Tel. No.: |
91-22-41287700 |
|
E-Mail : |
DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Sarangdhar Ramchandra Nirmal |
|
Designation : |
Managing Director |
|
Address : |
Nirmalnagar At Post Ranjankhol, Taluka Shrirampur, District Ahmednagar, Ahmednagar - 413720, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1956 |
|
Date of Appointment : |
25.11.1998 |
|
DIN No.: |
00035234 |
|
|
|
|
Name : |
Mr. Vivek Sarangdhar Nirmal |
|
Designation : |
Managing Director |
|
Address : |
At Post Ranjankhol, Tal Rahata, Ahmednagar - 413720, Maharashtra, India |
|
Date of Birth/Age : |
16.08.1983 |
|
Date of Appointment : |
01.05.2012 |
|
DIN No.: |
00820923 |
|
|
|
|
Name : |
Mr. Omprakash Venkatswamy Bundellu |
|
Designation : |
Director |
|
Address : |
Flat No.192, Jolly Maker Apartment II, Cuffe Parade, Mumbai - 400005, Maharashtra, India |
|
Date of Appointment : |
20.02.2015 |
|
DIN No.: |
00032950 |
|
|
|
|
Name : |
Mr. Soundararajan Bangarusamy |
|
Designation : |
Additional Director |
|
Address : |
No:7,Rain Tree Shire, Parsn Sesh Nestle Apartment, Nanjundapuram Road, Coimbatore - 641036, Tamilnadu, India |
|
Date of Appointment : |
10.11.2015 |
|
DIN No.: |
00063462 |
|
|
|
|
Name : |
Mr. Ashok Sinha |
|
Designation : |
Director |
|
Address : |
19, Suniti, 10th Floor, Gen. J. B. Marg, Mumbai - 400021, Maharashtra, India |
|
Date of Birth/Age : |
19.06.1951 |
|
Date of Appointment : |
22.02.2013 |
|
DIN No.: |
00299600 |
|
|
|
|
Name : |
Mr. Rajesh Kumar Srivastava |
|
Designation : |
Additional Director |
|
Address : |
S-376,Ground Floor, Panchshila Park, New Delhi - 110017, India |
|
Date of Birth/Age : |
20.03.1957 |
|
Date of Appointment : |
25.09.2015 |
|
DIN No.: |
00302223 |
|
|
|
|
Name : |
Mr. Raphael Gabriel Roger Plihon |
|
Designation : |
Additional Director |
|
Address : |
24 Rue Condorcet, Paris, 75009, France |
|
Date of Birth/Age : |
17.04.1982 |
|
Date of Appointment : |
25.09.2015 |
|
DIN No.: |
06814236 |
|
|
|
|
Name : |
Seemantinee Shashank Khot |
|
Designation : |
Director |
|
Address : |
1104 Wooland Avenue, S. No. 36,, Part Kothrud, Pune - 411038, Maharashtra, India |
|
Date of Appointment : |
20.02.2015 |
|
DIN No.: |
07026548 |
KEY EXECUTIVES
|
Name : |
Mr. Keyur Shah |
|
Designation : |
Chief Financial Officer |
|
Address : |
20 Nareshwar Apartment, Behind Alkapuri, Socghatlodia, Ahmedabad - 380061, Gujarat, India |
|
Date of Appointment : |
09.03.2015 |
|
PAN No.: |
ADZPS9127L |
|
|
|
|
Name : |
Priya Suresh Nagmoti |
|
Designation : |
Company Secretary |
|
Address : |
Flat No. 604, Building 8, Ozone Valley Housing Society, Opposite Amrutangan, Parsik Nagar, Kalwa (West), Thane - 400605, Maharashtra, India |
|
Date of Appointment : |
01.11.2012 |
|
PAN No.: |
AEHPN4414Q |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders (Equity) |
|
No. of Shares |
|
Nirmal Ramchandra Sarangdhar |
|
750000 |
|
Nirmal Ramchandra Kishor |
|
750000 |
|
Nirmal Jagannath Arvind |
|
750000 |
|
Nirmal Sarangdhar Vivek |
|
750000 |
|
Nirmal Family Trust, Trustee Sarangdhar R. Nirmal |
|
27000000 |
|
Total |
|
30000000 |
|
Names of Shareholders (Preference) |
|
No. of Shares |
|
India Agri Business Fund Limited, Mauritius |
|
13744828 |
|
Real Trust, Trustee Rajesh Srivastava |
|
48276 |
|
Societe De Promotion Et De Participation pour La Cooperation
Economique |
|
10344828 |
|
Total |
|
24137932 |
As on 12.09.2015
|
Names of Allottee |
|
No. of Shares
Allotted |
|
Styrax Commodities Limited, India |
|
2434740 |
|
Payone Enterprises Private Limited, India |
|
2999922 |
|
Mangal Bhansali |
|
869550 |
|
Lata Bhansali |
|
1739100 |
|
Total |
|
8043312 |
As on
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
10.00 |
|
Others |
90.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Supplier of Dairy Product and Milk
Powder such as Dairy Whitener,
Sweetened Condensed Milk, Flava Flavored Milk, Ghee, Concentrated Milk ,
Skimmed Milk Powder and Whole
Milk Powder. (From
Indirect Sources) |
||||
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|
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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
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
|
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Facilities : |
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|
Financial Institution : |
Il And Fs Trust Company Limited, Il & Fs Financial Centre, Plot No. C22, G Block, Bandra Kurla Complex Bandra (East), Mumbai - 400051, Maharashtra , India |
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Company LLP Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
PAN N Income-tax
PAN of auditor or auditor's firm : |
AAAFB9852F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Fellow Subsidiary company : |
Sunfresh Agro Industries Private Limited |
|
|
|
|
Subsidiary Companies : |
Cheeseland Agro (India)Private Limited |
|
|
|
|
Enterprises / Proprietary concerns in which key management personnel or their relatives exercise significant influence : |
|
CAPITAL STRUCTURE
AFTER 30.09.2014
Authorised Capital : Rs.1000.000 Million
Issued, Subscribed & Paid-up Capital : Rs.976.761
Million
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
268,620,680 |
Equity Shares |
Rs.1/- each |
Rs. 268.621 Million |
|
24,137,932 |
Preference Shares |
Rs.10/- each |
Rs. 241.379 Million |
|
|
Total |
|
Rs. 510.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,000,000 |
Equity Shares |
Rs.1/- each |
Rs. 30.000
Million |
|
24,137,932 |
Preference Shares |
Rs.10/- each |
Rs. 241.379
Million |
|
|
Total |
|
Rs. 271.379 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 |
271.379 |
167.931 |
2.990 |
|
(b) Reserves & Surplus |
2051.509 |
1493.153 |
538.094 |
|
(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) |
2322.888 |
1661.084 |
541.084 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
409.678 |
173.780 |
844.648 |
|
(b) Deferred tax liabilities (Net) |
59.749 |
48.587 |
44.066 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
5.716 |
3.826 |
1.625 |
|
Total Non-current
Liabilities (3) |
475.143 |
226.193 |
890.339 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
531.731 |
381.479 |
403.691 |
|
(b) Trade
payables |
354.886 |
181.369 |
309.387 |
|
(c) Other
current liabilities |
280.588 |
90.291 |
166.487 |
|
(d) Short-term
provisions |
2.816 |
9.307 |
1.079 |
|
Total Current
Liabilities (4) |
1170.021 |
662.446 |
880.644 |
|
|
|
|
|
|
TOTAL |
3968.052 |
2549.723 |
2312.067 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1363.264 |
515.979 |
547.441 |
|
(ii)
Intangible Assets |
1.697 |
3.209 |
0.000 |
|
(iii)
Capital work-in-progress |
5.105 |
0.000 |
384.530 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.700 |
3.800 |
3.800 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
642.529 |
|
(d) Long-term Loan and Advances |
1882.159 |
1488.142 |
11.221 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
3253.925 |
2011.130 |
1589.521 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
189.566 |
153.340 |
121.711 |
|
(c) Trade
receivables |
334.902 |
311.143 |
310.299 |
|
(d) Cash
and cash equivalents |
23.612 |
21.445 |
40.007 |
|
(e)
Short-term loans and advances |
165.310 |
40.326 |
250.529 |
|
(f) Other
current assets |
0.737 |
12.339 |
0.000 |
|
Total Current
Assets |
714.127 |
538.593 |
722.546 |
|
|
|
|
|
|
TOTAL |
3968.052 |
2549.723 |
2312.067 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
GROSS REVENUE |
NA |
5613.080 |
4662.260 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
NA |
214.290 |
206.570 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
NA |
100.600 |
104.570 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
113.690 |
102.000 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
NA |
68.310 |
57.470 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
NA |
45.380 |
44.530 |
|
|
|
|
|
|
|
Less |
TAX |
NA |
25.180 |
18.110 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
NA |
20.200 |
26.420 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
0.37 |
0.48 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
NA
|
0.36 |
0.57 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
NA
|
3.82 |
4.43 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
1.78 |
3.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.03 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.41 |
0.33 |
2.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.61 |
0.81 |
0.82 |
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 |
2.990 |
167.931 |
271.379 |
|
Reserves & Surplus |
538.094 |
1493.153 |
2051.509 |
|
Net worth |
541.084 |
1661.084 |
2322.888 |
|
|
|
|
|
|
long-term borrowings |
844.648 |
173.780 |
409.678 |
|
Short term borrowings |
403.691 |
381.479 |
531.731 |
|
Total borrowings |
1248.339 |
555.259 |
941.409 |
|
Debt/Equity ratio |
2.307 |
0.334 |
0.405 |
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 two years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last two 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 |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Term loans |
0.000 |
1.038 |
|
Loans and advances from others |
49.907 |
49.907 |
|
Total |
49.907 |
50.945 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10550427 |
12/03/2015 * |
770,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI, Maharashtra - 400051, INDIA |
C49348501 |
|
2 |
10535786 |
17/09/2014 |
200,000,000.00 |
Societe Generale Bank |
Upper Ground Floor, Amba Deep Building, 14, Kasturba Gandhi Marg, New Delhi, Delhi - 110001, INDIA |
C36483576 |
|
3 |
10512144 |
21/07/2014 |
500,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS
FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA INDIA |
C14549901 |
|
4 |
10512152 |
20/03/2015 * |
900,000,000.00 |
IL & FS TRUST COMPANY LIMITED |
IL & FS FINANCIAL CENTREPLOT NO C22 G BLOCK BANDRA, KURLA COMPLEX BANDRA EAST, MUMBAI, Maharashtra - 400051, INDIA |
C49297971 |
|
5 |
10512893 |
04/06/2014 |
100,000,000.00 |
INDUSIND BANK LTD. |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, Maharashtra - 411001, INDIA |
C15005283 |
|
6 |
10508154 |
30/04/2015 * |
300,000,000.00 |
Rabobank International |
2/F, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra - 400013, INDIA |
C56007743 |
|
7 |
10423171 |
23/12/2011 |
160,000,000.00 |
UNION BANK OF INDIA |
VASHI TURBHE BRANCH,, COMMODITY EXCHANGE BLDG., SECTOR 19, VASHI TURBHE, NAVI MUMBAI, Maharashtra - 400705, INDIA |
B63713333 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and
Equipments
- Furniture and
Fixture
- Office
Equipments
- Vehicles
- 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, 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. 66.79 |
|
UK Pound |
1 |
Rs. 101.37 |
|
Euro |
1 |
Rs. 73.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
JYO / PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
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 |
|
47 |
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.