MIRA INFORM REPORT

 

 

Report No. :

354896

Report Date :

17.12.2015

 

IDENTIFICATION DETAILS

 

Name :

GOPAL GLASS WORKS LIMITED (w.e.f. 15.06.1995)

 

 

Formerly Known As :

GOPAL GLASS WORKS PRIVATE LIMITED

 

 

Registered Office :

182, Gagan Vihar Flat, Khanpur, Ahmedabad – 380001, Gujarat

Tel. No.:

91-79-26421851

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

24.07.1978

 

 

Com. Reg. No.:

04-003174

 

 

Capital Investment / Paid-up Capital :

Rs.40.000 Million

 

 

CIN No.:

[Company Identification No.]

U26109GJ1978PLC003174

 

 

IEC No.:

0891002103

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACG5599H

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Subject is engaged in the production of figured, rolled and wired Glass. (Registered Activity)

 

 

No. of Employees :

Information declined by the management.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (50)

 

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 :

Exist

 

 

Comments :

Subject was established in the year 1978 and it is a glass manufacturing company. It is engaged in manufacturing patterned glass, jaccuzi, pinhad, kasumi, victory, reeded and diamond square.

 

For the financial year ended 2014, revenue of the company has declined by 7.37% but company has able to maintain average profit margin at 3.30% during the year under review.

 

Rating takes into consideration company’s established track record of business operations supported by its satisfactory financial profile along with favorable gap between trade payables to its receivables and sound debt coverage indicators.

 

However, rating strength is partially offset by uncertainty associated with gas prices, which is a major cost component marked by company’s modest scale of its operations, fluctuations in the raw material prices and direct linkage of demand for its products to the cyclical real estate sector.

 

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

 

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

 

Note: Management of the company has not filed its financial with government department for the year 2015 and same are not available from any sources.

 

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

CARE

Rating

Long term bank facilities = BBB+

Rating Explanation

Moderate degree of safety and moderate credit risk.

Date

September 06, 2014

 

Rating Agency Name

CARE

Rating

Short term bank facilities = A2

Rating Explanation

Strong degree of safety and low credit risk.

Date

September 06, 2014

 

 

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. Khatri

Designation :

Accountant

Contact No.:

91-79-26421851

Date :

15.12.2015

 

 

LOCATIONS

 

Registered Office :

182, Gagan Vihar Flat, Khanpur, Ahmedabad – 380001, Gujarat, India

Tel. No.:

91-79-25602686

Fax No.:

Not Available

E-Mail :

info@gopalglass.com

Website :

www.gopalglass.com

 

 

Corporate Office :

Gopal Glass House, 26, Government Servant Society, Behind Municipal Market, Off C. G. Road, Navrangpura, Ahmedabad – 380009, Gujarat, India

Tel. No.:

91-79-26421851 / 52

Fax No.:

91-79-26421854 / 55

 

 

Works :

Village Budasan, Taluka Kadi, District Mehsana – 382715, Gujarat, India

Tel. No.:

91-2764-263025 / 242405

Fax No.:

91-2764-242267

 

 

DIRECTORS

 

As on 31.03.2015

 

Name :

Mr. Vikesh Jayantilal Shah

Designation :

Managing Director

Address :

5, Ashwamegh Bunglow No.4, Shiv Ranjani, Opposite P And T Colony, Satellite Road, Ahmedabad - 380015, Gujarat, India

Date of Appointment :

29.09.2001

DIN No.:

00491180

 

 

Name :

Mr. Mayuresh Jayantilal Shah

Designation :

Managing Director

Address :

10, Dhwani Apartment, Shahpur Bahai Centre, Shahpur, Ahmedabad - 380001, Gujarat, India

Date of Birth/Age :

22.10.1954

Date of Appointment :

01.01.2005

DIN No.:

00490535

 

 

Name :

Mr. Jayantilal Jethalal Shah

Designation :

Managing Director

Address :

5, Ashwamegh Bunglow No. 4, Shiv Ranjani Society, Opposite P And T Colony, Satellite Road, Ahmedabad - 380015, Gujarat, India

Date of Birth/Age :

25.02.1930

Date of Appointment :

01.01.2005

DIN No.:

00490475

 

 

Name :

Mr. Devang Haridas Shah

Designation :

Director

Address :

26, Maulik Villa Raw House, Near Panchgini Society, Jodhpur, Satellite, Ahmedabad - 380015, Gujarat, India

Date of Appointment :

29.09.2001

DIN No.:

00490631

 

 

Name :

Mrs. Shakuntalaben Dhirajlal Sheth

Designation :

Director

Address :

9, Yogeshwar Bunglow, Near Sola Highway Bridge, Thaltej, Ahmedabad - 380054, Gujarat, India

Date of Birth/Age :

25.04.1942

Date of Appointment :

03.01.1982

DIN No.:

00490823

 

 

Name :

Mr. Kantilal Keshavalal Shah

Designation :

Director

Address :

101, Building A, Sunlim Apartments, Opposite Delux Society, Appolow Flats, Ahmedabad - 380006, Gujarat, India

Date of Birth/Age :

04.05.1934

Date of Appointment :

20.11.1979

DIN No.:

00494079

 

 

Name :

Mr. Manan Vikeshkumar Shah

Designation :

Director

Address :

No-5 Ashwamegh Bunglows Part-4, Satellite Ring Road Satellite, Ahmedabad - 380015, Gujarat, India

Date of Appointment :

27.12.2011

DIN No.:

02627083

 

 

Name :

Mr. Purvish Mayuresh Shah

Designation :

Director

Address :

No-10 Dhwani Appartment, Shahpur Bahai Center, Ahmedabad - 380001, Gujarat, India

Date of Appointment :

27.12.2011

DIN No.:

02627061

 

 

Name :

Mr. Sureshbhai Ramanlal Desai

Designation :

Director

Address :

6, Gopalkrishna Apartment, Dalal Colony, Maninagar, Ahmedabad - 380002, Gujarat, India

Date of Appointment :

21.11.1994

DIN No.:

00490856

 

 

Name :

Mr. Kalpesh Dhirajlal Sheth

Designation :

Whole-Time Director

Address :

30, Yogeshwar Bunglow, Near Gulab Tower, Thaltej, Ahmedabad - 380054, Gujarat, India

Date of Appointment :

27.12.2011

DIN No.:

00546883

 

 

KEY EXECUTIVES

 

Name :

Mr. Javerbhai Bhojabhai Bodar

Designation :

Company Secretary

Address :

5, Shyam Apartment, 28 Champaner Society, Ashram Road, Ushmanpura, Ahmedabad - 380012, Gujarat, India

Date of Birth/Age :

01.06.1953

Date of Appointment :

17.10.1983

PAN No.:

ACFPB9969G

 

 

MAJOR SHAREHOLDERS

 

As on 23.09.2014

 

SHAREHOLDERS DETAILS FILE ATTACHED

 

As on 23.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Directors or relatives of Directors

91.23

Other top fifty shareholders

8.77

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in the production of figured, rolled and wired Glass. (Registered Activity)

 

 

Products :

Product Description

Item Code No. (ITC Code)

Rolled and Figured Glass

70031900

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

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

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

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 :

Information declined by the management.

 

 

Bankers :

Banker Name

State Bank of India

Branch Address

1st Floor, Neptune Tower Annexe, Off Nehru Bridge, Near Sakar- VII, Ashram Road, Ahmedabad - 380009, Gujarat, 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 loans from banks

20.600

47.800

Other loans and advances

1.906

0.561

SHORT TERM BORROWING

 

 

Working capital loans from banks

45.189

87.063

Total

67.695

135.424

 

Auditors :

 

Name :

Borkar and Muzumdar

Chartered Accountants

Address :

B/408, Premium House, Near Gandhigram Railway Station, Ashram Road, Ahmedabad – 380009, Gujarat, India

PAN No.:

AAAFB3194J

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates :
  • Haridas Exports
  • Gopal Mirror Coating Private Limited
  • Kotyark Glass Enterprise

 

 

Subsidiaries Company :

Gobind Glass And Industries Limited

 

 

Other related parties :
  • Mayuresh Jayantilal Shah- HUF
  • Jayantilal Jethalal Shah HUF

 

 

CAPITAL STRUCTURE

 

As on 23.09.2014

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

500000

Equity Shares

Rs.100/- each

Rs.50.000 Million

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

400000

Equity Shares

Rs.100/- each

Rs.40.000 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

40.000

40.000

40.000

(b) Reserves & Surplus

273.651

239.390

167.996

(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)

313.651

279.390

207.996

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

22.506

108.441

118.536

(b) Deferred tax liabilities (Net)

66.457

71.172

73.758

(c) Other long term liabilities

61.392

59.148

0.119

(d) long-term provisions

6.565

1.176

0.561

Total Non-current Liabilities (3)

156.920

239.937

192.974

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

45.189

87.063

59.707

(b) Trade payables

68.803

109.769

104.044

(c) Other current liabilities

158.964

81.232

85.026

(d) Short-term provisions

25.154

24.300

17.230

Total Current Liabilities (4)

298.110

302.364

266.007

 

 

 

 

TOTAL

768.681

821.691

666.977

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

331.118

342.154

366.960

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

7.395

0.000

0.000

(iv) Intangible assets under development

0.025

0.000

2.634

(b) Non-current Investments

8.821

8.821

8.821

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

64.792

125.167

64.948

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

412.151

476.142

443.363

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

100.558

111.218

88.369

(c) Trade receivables

110.087

92.008

96.331

(d) Cash and cash equivalents

17.880

16.672

12.389

(e) Short-term loans and advances

128.005

125.651

26.525

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

356.530

345.549

223.614

 

 

 

 

TOTAL

768.681

821.691

666.977

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

1170.828

1281.980

1082.243

 

Other Income

31.821

16.435

4.329

 

TOTAL

1202.649

1298.415

1086.572

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

544.663

619.800

580.637

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(19.671)

(5.009)

(0.813)

 

Employees benefits expense

64.640

52.469

50.040

 

Other expenses

505.927

481.032

327.996

 

TOTAL

1095.559

1148.292

957.860

 

 

 

 

 

Less

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

107.090

150.123

128.712

 

 

 

 

 

Less

FINANCIAL EXPENSES

23.936

25.528

38.221

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

83.154

124.595

90.491

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

28.503

31.444

33.185

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

54.651

93.151

57.306

 

 

 

 

 

Less

TAX

14.775

16.178

9.372

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

39.876

76.973

47.934

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

7.038

4.935

19.765

 

TOTAL EARNINGS

7.038

4.935

19.765

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

19.936

12.418

 NA

 

Components and Stores parts

6.786

6.615

 NA

 

TOTAL IMPORTS

26.722

19.033

NA

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

99.69

192.43

119.83

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

101.722

32.418

47.304

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

68.954

66.971

82.427

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

3.41

6.00

4.43

 

 

 

 

 

Operating Profit Margin

(PBDIT / Sales)

(%)

9.15

11.71

11.89

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

7.26

11.46

8.74

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.17

0.33

0.28

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.54

0.82

1.08

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.20

1.14

0.84

 

 

 

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

40.000

40.000

40.000

Reserves & Surplus

167.996

239.390

273.651

Net worth

207.996

279.390

313.651

 

 

 

 

long-term borrowings

118.536

108.441

22.506

Short term borrowings

59.707

87.063

45.189

Current Maturities of Long Term Debt

47.304

32.418

101.722

Total borrowings

225.547

227.922

169.417

Debt/Equity ratio

1.084

0.816

0.540

 

 

 

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

1082.243

1281.980

1170.828

 

 

18.456

(8.670)

 

 

 

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

1082.243

1281.980

1170.828

Profit

47.934

76.973

39.876

 

4.43%

6.00%

3.41%

 

 

 

 

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

Yes

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

No

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

Yes

33

Market information

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

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

LITIGATION DETAILS

 

 

HIGH COURT OF GUJARAT

FIRST APPEAL No. 1908 of 2012

 

Status : PENDING

(Converted from : FAST/1367/2012)

CCIN No : 001012201201908

Last Listing Date:

16/07/2012

 

Coram

HONOURABLE MR.JUSTICE M.D. SHAH

 

S.NO.

Name of the Petitioner

Advocate On Record

1

EMPLOYEES STATE INSURANCE CORPORATION

MR SACHIN D VASAVADA for: Appellant(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

S.NO.

Name of the Respondant

Advocate On Record

1

GOPAL GLASS WORKS PRIVATE LIMITED

MR DIPAK R DAVE for :Defendant(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

 

Presented On

: 23/04/2012

Registered On

: 28/06/2012

Bench Category

: SINGLE BENCH

District

: AHMEDABAD

Case Originated From

:THROUGH HIS/HER/THEIR ADVOCATE

Listed

: 11 times

Stage Name

: FOR REGULAR ADMISSION

Classification

SJ - FIRST APPEAL - EMPLOYEES' STATE INSURANCE ACT, 1948 - INJURY

Act

EMPLOYEES' STATE INSURANCE ACT, 1948

Other Forums

 

S. No.

CASEDETAILS

TRIBUNAL REFERRENCE

ORDER PASSED BY

JUDGEMENT DATE

PLACE

1

ESIA 10/99

EMPLOYEES STATE INSURANCE ACT

JUDGE

19/01/2012

AHMEDABAD

Office Details

 

S. No.

Filing Date

Document Name

Advocate Name

Court Fee on Document

Document Details

1

23/04/2012

CERTIFIED COPY

MR SACHIN D VASAVADA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

2

MR SACHIN D VASAVADA:1

2

23/04/2012

VAKALATNAMA

MR SACHIN D VASAVADA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

5

MR SACHIN D VASAVADA:1

3

23/04/2012

MEMO OF PETITION/APPEAL/SUIT

MR SACHIN D VASAVADA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

20

MR SACHIN D VASAVADA:1

4

18/06/2012

VAKALATNAMA

MR DIPAK R DAVE ADVOCATE
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

5

MR DIPAK R DAVE:1

5

15/08/2012

VAKALATNAMA

MR SACHIN D VASAVADA ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

-

MR SACHIN D VASAVADA:1

Applications

 

S. No.

CaseDetail

Status Name

Disposal Date

Action/Coram

1

CIVIL APPLICATION/5062/2012

DISPOSED

18/06/2012

RULE ABSOLUTE/ALLOWED @ FH

HONOURABLE MR.JUSTICE M.D. SHAH

Court Proceedings

 

S. No.

Notified Date

Court Code

Board Sr. No.

Stage

Action

Coram

1

16/07/2012

13

-

FOR REGULAR ADMISSION

RULE/ADMIT

HONOURABLE MR.JUSTICE M.D. SHAH

Available Orders

 

S. No.

Case Details

Judge Name

Order Date

CAV

Judgement

Questions

Transferred

1

FIRST APPEAL/1908/2012

HONOURABLE MR.JUSTICE M.D. SHAH

16/07/2012

N

ORDER

-

Y

 

 

CORPORATE INFORMATION

 

Subject is a closely held public company domiciled in India and incorporated under the Provisions of Companies Act, 1956 and operating from GIDC, Kadi, Gujarat. It is engaged in the production of figured, rolled and wired Glass. Annual installed production capacity of the company is 98.75 Lacs Sq. Mtr. (3MM Basis). It is a holding company of Gobind Glass and Industries Limited.

 

FINANCIAL RESULTS

 

The company has earned Profit of Rs.54.651 Million as against the profit of previous year of Rs.93.152 Million. The decreased in profits is on account of increase in fuel cost and increase in cost of all input ingredients. Sales during the year is of Rs.1352.625 Million against the previous year Sales of Rs.1495.618 Million.

 

CURRENT AFFAIRS

 

During the first four months of the current year, the company has achieved turnover of Rs.366.322 Million. The Company have achieved average 102.47% utilization of its Installed capacity of Plants.

 

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Deposits from Directors

0.000

1.450

Deposits from others

0.000

58.630

Total

0.000

60.080

 

 

INDEX OF CHARGES

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

90109755

13/02/2013 *

312,500,000.00

STATE BANK OF INDIA

1ST FLOOR, NEPTUNE TOWER ANNEXE, OFF NEHRU BRIDGE, NRear SAKAR- VII, ASHRAM ROAD, AHMEDABAD - 380009, Gujarat, INDIA

B69888873

 

* Date of charge modification

 

 

FIXED ASSETS

 

  • Land
  • Buildings
  • Plant and Equipment
  • Furniture and Fixtures
  • Vehicles
  • Motor Vehicles
  • Office Equipment
  • Computer 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 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.66.84

UK Pound

1

Rs.100.57

Euro

1

Rs.73.15

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

PNM

 

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

6

--CREDIT LINES

1~10

6

--MARGINS

-5~5

---

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

50

 

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.