MIRA INFORM REPORT

 

 

Report No. :

357014

Report Date :

28.12.2015

 

IDENTIFICATION DETAILS

 

Name :

DHALL ENTERPRISES AND ENGINEERS PRIVATE LIMITED

 

 

Registered Office :

PO. Saijpur Bogha, Naroda Road, Ahmedabad – 382345, Gujarat

Tel. No.:

91-79-22820383/ 22820372/ 22820246

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

14.07.1971

 

 

Com. Reg. No.:

04-001921

 

 

Capital Investment / Paid-up Capital :

Rs. 40.000 Million

 

 

CIN No.:

[Company Identification No.]

U29259GJ1971PTC001921

 

 

IEC No.:

0888009402

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

AHMD00446F

 

 

PAN No.:

[Permanent Account No.]

AAACD5351J

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter and Importer of Textile Processing and Finishing Machineries. (Confirmed by Management)

 

 

No. of Employees :

250 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (41)

 

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 :

Dhall Enterprises And Engineers Private Limited, is promoted by the Ahmedabad-based Dhall and Chopra families. The company manufactures textile processing and finishing machineries. It is established company having satisfactory track record.

 

Rating on company reflects decent comfortable financial risk profile, debt protection metrics. Also, the rating reflects sound scale of operations in the competitive textile machinery industry.

 

Rating further derives strength the extensive industry experience of the promoters and established relations with its customers and suppliers.

 

The ratings get constrained on company marginal decline in sales turnover and very low profitability margin in FY15 and moderately leverage structure.

 

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

 

The company can be considered for the 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

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Long term Bank facilities = B+

Rating Explanation

Risk-prone-credit-quality and carries very high credit risk.

Date

25.11.2014

 

 

Rating Agency Name

CRISIL

Rating

Short term Bank facilities = A4

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

25.11.2014

 

 

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 PARTED BY

 

Name :

Mr. Rakesh

Designation :

Accounts Department

Contact No.:

91-9979860851

Date :

24.12.2015

 

 

LOCATIONS

 

Registered Office :

PO. Saijpur Bogha, Naroda Road, Ahmedabad – 382345, Gujarat, India

Tel. No.:

91-79-22820383/ 22820372/ 22820246

Mobile No.:

91-9979860851 (Mr. Rakesh)

Fax No.:

91-79-22820225/ 25830308

E-Mail :

dhall@dhallgroup.com

Website :

http://www.dhallgroup.com

Area :

15000 Sq. ft.

Location :

Owned

Locality :

Commercial

 

 

Delhi Office :

F-2, Triveni Commercial Complex, Sheikh Sarai, Phase I, New Delhi – 110017, India

Tel. No.:

91-11-26011988

 

 

Sales Offices :

Located at:

 

·         New Delhi 

·         Surat

·          Mumbai 

·         Kolkata  

 

 

DIRECTORS

 

AS ON 31.03.2015

 

Name :

Mr. Satish Bankaram Chopra

Designation :

Managing director

Address :

1-2, Goyal Intercity, Drive In Cinema, Ahmedabad - 380054, Gujarat, India

Date of Birth/Age :

01.02.1949

Date of Appointment :

01.12.2009

DIN No.:

00012263

 

 

Name :

Mr. Ajay Surajprakash Dhall

Designation :

Director

Address :

Vijay Park Society, Navrangpura, Ahmedabad - 380009, Gujarat, India

Date of Birth/Age :

29.08.1961

Date of Appointment :

31.07.1995

DIN No.:

00012277

 

 

Name :

Mr. Sanjay Surajprakash Dhall

Designation :

Director

Address :

Vijay Park Society, Navrangpura, Ahmedabad - 380009, Gujarat, India

Date of Birth/Age :

18.11.1962

Date of Appointment :

01.07.2005

DIN No.:

00012383

 

 

Name :

Mr. Pankaj Surajprakash Dhall

Designation :

Director

Address :

Vijay Park Society, Navrangpura, Ahmedabad - 380009, Gujarat, India

Date of Birth/Age :

31.03.1972

Date of Appointment :

01.07.2005

DIN No.:

00012396

 

 

Name :

Mr. Ramesh Bankaram Chopra

Designation :

Managing director

Address :

21-22, Goyal Intercity Row House, Opposite T.V. Tower, Thaltej, Ahmedabad - 380052, Gujarat, India

Date of Birth/Age :

04.12.1946

Date of Appointment :

01.12.2009

DIN No.:

00015983

 

 

Name :

Mr. Sachin Ramesh Chopra

Designation :

Director

Address :

21-22, Goyal Intercity Row House, Opposite T.V. Tower, Thaltej, Ahmedabad - 380052, Gujarat, India

Date of Birth/Age :

19.19.1975

Date of Appointment :

01.07.2005

DIN No.:

00060242

 

 

Name :

Mr. Vishal Ramesh Chopra

Designation :

Director

Address :

21-22, Goyal Intercity Row House, Opposite T.V. Tower, Thaltej, Ahmedabad - 380052, Gujarat, India

Date of Birth/Age :

11.11.1976

Date of Appointment :

01.07.2005

DIN No.:

00060257

 

 

KEY EXECUTIVES

 

Name :

Mr. Rakesh

Designation :

Accounts Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 31.03.2015

 

Names of Shareholders

 

No. of Shares

 

Ajay Surajprakash Dhall

 

25340

Sanjay Surajprakash Dhall

 

25220

Pankaj Surajprakash Dhall

 

17630

Ramesh Bankaram Chopra

 

13800

Ramesh Bankaram Chopra HUF

 

18960

Sachin Rameshbhai Chopra

 

10945

Sanjay Surajprakash Dhall

 

25220

Satish Bankaram Chopra

 

11010

Satish Bankaram Chopra HUF

 

27450

Vishal Rameshbhai Chopra

 

10945

Anu Satish Chopra

 

13945

 

 

AS ON 30.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Directors or relatives of directors

100.00

 

 

Total

 

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Importer of Textile Processing and Finishing Machineries. (Confirmed by Management)

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

Finished Goods

Countries :

·         Bangkok

·         Bangladesh

·         Indonesia

·         Singapore

·         Nigeria

 

 

Imports :

 

Products :

Raw Material

Countries :

·         Germany

·         Canada

·         France

 

 

Terms :

 

Selling :

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

 

 

Purchasing :

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

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Lakai Limited

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Wholesalers, Retailers and OEMs

 

Reference:

Arvind Limited

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

250 (Approximately)

 

 

Bankers :

Bank Name:

Central Bank of India

Branch:

Mid Corporate Finance Branch, 1st Floor, Central Bank of India Building, Lal Darwaja, Ahmedabad - 380001, Gujarat, India

Person Name (with Designation):

Not Divulged

Contact Number:

91-79-25511119 (Continuously Ringing)

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         HDFC Bank Limited

·         ICICI Bank Limited

 

 

Facilities :

SECURED LOANS

31.03.2015

(Rs. In Million)

31.03.2014

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Term loans from banks

 

 

Central Bank Of India TERM LOAN A/CNO3266518382(HT POWER)

0.007

1.191

Central Bank Of India(Term Loan CBI LD A/C NO. 3069482596)

(Secured by hypothecation of Machinery)

2.480

5.794

HDFC BANK CAR LOAN A/C

(Secured By Hypothecation of Verna)

0.194

0.542

HDFC BANK CAR LOAN

0.000

0.145

HDFC BANK - EICHER TRUCK LOAN

(Secured By Hypothecation of - EICHER TRUCK)

0.000

0.193

HDFC BANK - ERTIGA CAR LOAN

(Secured By Hypothecation of - ERTIGA CAR)

0.000

0.102

HDFC BANK - DUSTER CAR LOAN

(Secured By Hypothecation of - DUSTER CAR)

0.000

0.353

ICICI BANK - MERCEDES CAR LOAN

(Secured By Hypothecation of - MERCEDES CAR)

0.000

0.924

HDFC BANK - WAGONR CAR LOAN

(Secured By Hypothecation of - WAGONR CAR)

0.000

0.082

HDFC CAR LOAN A/C (Verna Car )

(Secured By Hypothecation of - Honda Verna Car)

0.431

0.000

HDFC CAR LOAN A/C (Ford eco-Sport)

(Secured By Hypothecation of - Ford Eco Sport)

0.431

0.000

SHORT TERM BORROWINGS

 

 

Loans repayable on demand

Central Bank of India

(Against Hypothecation of Raw Material, Stores & Component Store,

WIP & Finished Goods)

40.837

45.430

Central Bank of India LD FDOD

(Secured by Bank Fixed Deposits)

21.423

19.012

 

 

 

Total

 

65.803

73.768

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Ambalal Patel and Company

Chartered Accountants

Address :

1st Floor, Sapphire Business Center, Above SBI Vadaj Branch, Usmanpura, Ashram Road, Ahmedabad – 380013, Gujarat, India

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

AABFA3490K

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Enterprise over which Key Management Personnel and their relative exercise significant influence with whom transaction have taken place during the year :

·         TFE Coating Industries

·         C D Finance

·         Bharat Plastic and Bakellite Product

·         Dhall Exports

·         Gujarat PTFE Processors Private Limited

·         Dhall Enterprise

·         Dhall Integrated and Finance Private Limited

·         AlphaVector Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

500,000

Equity Shares

Rs. 100/- each

Rs. 50.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

400,000

Equity Shares

Rs. 100/- each

Rs. 40.000 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2015

31.03.2014

31.03.2013

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

40.000

20.000

20.000

(b) Reserves & Surplus

2.786

23.261

19.514

(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)

42.786

43.261

39.514

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

59.970

58.879

49.360

(b) Deferred tax liabilities (Net)

0.000

0.446

0.449

(c) Other long term liabilities

35.561

54.447

42.922

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

95.531

113.772

92.731

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

62.260

64.442

57.310

(b) Trade payables

109.165

95.718

85.273

(c) Other current liabilities

144.258

78.611

127.687

(d) Short-term provisions

7.191

6.762

5.027

Total Current Liabilities (4)

322.874

245.533

275.297

 

 

 

 

TOTAL

461.191

402.566

407.542

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

49.454

57.985

56.648

(ii) Intangible Assets

0.035

0.055

0.066

(iii) Capital work-in-progress

1.213

1.213

1.213

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.279

0.600

0.779

(c) Deferred tax assets (net)

0.766

0.000

0.000

(d)  Long-term Loan and Advances

1.996

1.749

0.864

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

53.743

61.602

59.570

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

293.042

247.560

241.681

(c) Trade receivables

60.735

43.483

58.219

(d) Cash and cash equivalents

36.299

31.940

28.400

(e) Short-term loans and advances

13.203

15.121

19.672

(f) Other current assets

4.169

2.860

0.000

Total Current Assets

407.448

340.964

347.972

 

 

 

 

TOTAL

461.191

402.566

407.542

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

 

Revenue from Operations

352.059

367.385

 

 

 

Other Income

3.140

2.842

 

 

 

TOTAL                                     (A)

355.199

370.227

322.859

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

237.721

206.479

 

 

 

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

-37.801

11.344

 

 

 

Employees benefits expense

44.579

41.514

 

 

 

Other expenses

70.742

71.775

 

 

 

TOTAL                                     (B)

315.241

331.112

309.676

 

 

 

 

 

 

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

39.958

39.115

(Including Financial Expenses)

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

26.515

24.297

 

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

13.443

14.818

13.183

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

12.348

8.985

8.057

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

1.095

5.833

5.126

 

 

 

 

 

Less

TAX                                                                  (H)

0.635

1.853

1.500

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

0.460

3.980

3.626

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

3.482

10.006

0.000

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

83.377

44.308

36.552

 

 

 

 

 

 

Earnings Per Share (Rs.)

2.19

9.95

18.13

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

PARTICULARS

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

 

 

 

HDFC BANK CAR LOAN A/C ECOSPORTS /S.C

0.268

0.000

0.000

HDFC Car Loan A/C (I 20 - Magna )

0.000

0.000

0.069

HDFC Car Loan A/C (Volkswagen- Jetta)

0.000

0.000

0.258

RELIANCE CAPITAL TRUCK - PIAGIO

0.000

0.000

0.061

HDFC BANK CAR LOAN VERNACAR /A.D

0.268

0.000

0.000

HDFC BANK - EICHER TRUCK LOAN

0.193

0.260

0.228

HDFC BANK - ERTIGA CAR LOAN

0.102

0.284

0.253

HDFC BANK - DUSTER CAR LOAN

0.353

0.349

0.314

ICICI BANK - MERCEDES CAR LOAN

0.924

1.282

1.166

HDFC BANK - WAGONR CAR LOAN

0.082

0.128

0.113

HDFC BANK CAR LOAN A/C P D VERNA

0.324

0.247

0.000

HDFC BANK CAR LOAN (S PATEL)

0.145

0.095

0.000

Central Bank Of India (TERM LOAN CBI LD A/C NO. 3295155933)

0.130

0.884

0.000

Central Bank Of India TERM LOAN A/CNO3266518382(HT POWER)

1.191

1.075

0.000

Central Bank Of India (Term Loan CBI LD A/C No. 3055155530)

0.000

0.000

0.543

Central Bank Of India (Term Loan CBI LD A/C NO. 3058074677)

0.000

0.000

0.291

Central Bank Of India(Term Loan CBI LD A/C NO. 3069482596)

3.250

3.250

3.250

Total

7.230

7.854

6.546

 

 

 

 

Cash generated from operations

NA

NA

NA

 

 

 

 

Net Cash inflow/ (outflow) from operating activities 

51.054

3.484

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

0.13

1.08

NA

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

11.35

10.65

NA

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.24

1.46

1.26

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.03

0.13

0.13

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

3.03

3.03

2.87

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.26

1.39

1.26

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particulars

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

20.000

20.000

40.000

Reserves & Surplus

19.514

23.261

2.786

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

39.514

43.261

42.786

 

 

 

 

Long-term borrowings

49.360

58.879

59.970

Short term borrowings

57.310

64.442

62.260

CURRENT MATURITIES OF LONG-TERM DEBTS

6.546

7.854

7.230

Total borrowings

113.216

131.175

129.460

Debt/Equity ratio

2.865

3.032

3.026

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

322.859

370.227

355.199

 

 

14.671

-4.059

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Total Income

322.859

370.227

355.199

Profit

3.626

3.980

0.460

 

1.12%

1.08%

0.13%

 

 

 

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

Yes

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

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

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

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10380744

18/09/2012

17,300,000.00

CENTRAL BANK OF INDIA

LAL DARWAJA BRANCH,, LAL DARWAJA, AHMEDABAD, GUJARAT - 380001, INDIA

B59762849

2

10191138

08/12/2009

1,150,000.00

CENTRAL BANK OF INDIA

CENTRAL BANK BUILDING, CORPORATE FINANCE BRANCH, 
LAL DARWAJA, AHMEDABAD, GUJARAT - 380001, INDIA

A75388827

3

10047646

15/10/2013 *

292,900,000.00

CENTRAL BANK OF INDIA

MID CORPORATE FINANCE BRANCH, 1ST FLOOR, CENTRAL 
BANK OF INDIA BUILDING, LAL DARWAJA, AHMEDABAD, 
GUJARAT - 380001, INDIA

B87192407

4

90107850

14/10/2013 *

212,100,000.00

CENTRAL BANK OF INDIA

MID CORPORATE FINANCE BRANCH, 1ST FLOOR,, CENTRAL 
BANK OF INDIA BUILDING, LAL DARWAJA, AHMEDABAD, 
GUJARAT - 380001, INDIA

B87192050

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2015

(Rs. In Million)

31.03.2014

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Loans and advances from related parties

 

 

From Directors

56.427

19.154

From Shareholders

0.000

30.399

 

 

 

Total

 

56.427

49.553

 

 

STATE OF COMPANY’S AFFAIRS

 

The Company has earned revenue from operation (Excluding other Income) of Rs.352.059 Million as against Rs. 367.385 Million in the previous year. The company has earned net profit after tax of Rs. 9.711 Million against Rs. 6.964 Million in previous year.

 

 

FIXED ASSETS:

 

·         Land

·         Buildings

·         Plant and Equipment

·         Furniture and Fixtures

·         Vehicles

·         Office equipment

 

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. 66.20

UK Pound

1

Rs. 98.30

Euro

1

Rs. 72.41

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

BVA

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

4

--LIQUIDITY

1~10

4

--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

 

41

 

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.