MIRA INFORM REPORT

 

 

Report No. :

305269

Report Date :

04.02.2015

 

IDENTIFICATION DETAILS

 

Name :

KORES (INDIA) LIMITED

 

 

Registered Office :

301/302, Ashford Chambers, Lady Jamshedji Road, Mahim (West), Mumbai – 400016, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

26.05.1936

 

 

Com. Reg. No.:

11-002494

 

 

Capital Investment / Paid-up Capital :

Rs.130.000 Millions

 

 

CIN No.:

[Company Identification No.]

U21198MH1936PLC002494

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMK12588C / MUMK12076B / MUMK11758F

 

 

PAN No.:

[Permanent Account No.]

AAACK5069Q

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Stationery Products, Castings, Auto Components, Yarn, Clothes and API/ Bulk Drugs etc. and also engaged in Building Construction and Development.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (43)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 2500000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record.

 

General financial position of the company is normal and acceptable for business dealing.

 

Trade relations are reported as fair. Business is active. Payment terms are reported to be slow but correct.

 

The company can be considered normal 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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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 rating=BBB-

Rating Explanation

Moderate degree of safety. It carry moderate credit risk.

Date

28.07.2014

 

 

Rating Agency Name

CRISIL

Rating

Short term rating=A3

Rating Explanation

Moderate degree of safety. It carry higher credit risk.

Date

28.07.2014

 

 

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 31-03-2014.

 

 

LOCATIONS

 

Registered Office/ Corporate Office 1 :

301/302, Ashford Chambers, Lady Jamshedji Road, Mahim (West), Mumbai – 400 016, Maharashtra, India

Tel. No.:

91-22-24476800

Mobile No.:

91-9820268437 (Mr. Vimal Bagadia)

Fax No.:

91-22-24476999

E-Mail :

info@kores-india.com

legal@kores-india.com

response@kores-india.com

sunilcs2004@rediffmail.com

Website :

http://www.kores-india.com

Location :

Owned

 

 

Corporate Office 2 :

Plot No.6, Industrial Area No.1, Pithampur, Indore – 452 001, Madhya Pradesh, India

 

 

Factory 1 :

Chakan (Foundry Division)

Chakan Talegoan Road, Gat No.109, Chakan Talegoan Road, Chakan – 410 501 District: Pune, Chakan, Maharashtra, India

Tel. No.:

91-2135-252128/ 254797

Fax No.:

91-2135-252149

 

 

Factory 2 :

Pune (Pefco Foundry Division and Administrative Office)

Plant No. I:

E-14, 15 and 16, Bhosari Industrial Area, Pune – 411 026, Maharashtra, India

Tel. No.:

91-20-27120741

Fax No.:

91-20-27120014

E-Mail :

sales@kores-foundry.com

Area :

Owned

 

 

Factory 3 :

Plant No. II:

Gat No.149, Chakan, Talegaon Road, Chakan, District Pune – 410 501, Maharashtra, India

Area :

Owned

 

 

Factory 4 :

Pithampur (Engineering Division)

Plot No.6, Area No.1, Pithampur, District Dhar, Pithampur – 454 775, Madhya Pradesh, India 

Tel. No.:

91-7292-252275

 

 

Factory 5 :

Wankaner: (Textile Division)

Station Road, Wankaner – 363 622, Gujarat, India

Tel. No.:

91-2828-220310/ 220385

Fax No.:

91-2828-220433

Area :

Owned

 

 

Factory 6 :

Roha (Pharmaceutical and Chemicals Division)

Plot No.59A, 65B, 65C, 66A and 58/2, MIDC, Industrial Area, Dhatav, Roha, District Raigad – 402 116, Maharashtra, India

Tel. No.:

91-2194-263568

Fax No.:

91-2194-263567

Area :

Owned

 

 

Factory 7 :

Business and Computer Systems Division

Mumbai

Building No.K-11, New Arihant Compund, Village - Koper, Taluka - Bhiwandi
District Thane, Maharashtra, India

 

 

Factory 8 :

Thane:

1st Pokharan Road, Thane (West) – 400 606, Maharashtra, India

Area :

Owned

 

 

Factory 9 :

Pharmaceuticals and Chemical Division

C-7/1-B, TTC Industrial Area, MIDC, Pawane, Navi Mumbai – 400 705, Maharashtra, India

Tel. No.:

91-22-24946555

Fax No.:

91-22-24950401

 

 

Factory 10 :

Rudrapur (Uttaranchal):

Plot No.15, Sector 211 E, Panthnagar, Rudrapur – 263 154, Uttaranchal, India

Area :

Owned

 

 

Branch / Representative Office :

Located at:

 

Agartala

Coimbatore

Hubli

Mumbai

Rajkot

Ahmedabad

Cuttack

Hyderabad

Mysore

Ranchi

Akola

Dehradun

Indore

Nagpur

Roha

Allahabad

Delhi

Jabalpur

Nanded

Rudrapur

Amritsar

Dhanbad

Jaipur

Nashik

Salem

Aurangabad

Ernakulam

Jallandhar

New Delhi

Solapur

Bangalore

Erode

Jammu

Patna

Surat

Bareily

Fort

Jamnagar

Pithampur

Tirunelveli

Baroda

Goa

Jamshedpur

Poducherry

Tirupathy

Belgaum

Guntur

Jodhpur

Pune

Tirupur

Bhagalpur

Guwahati

Kanpur

Raipur

Trichur

Bhavnagar

Gwalior

Kolhapur

Kolkata

Trichy

Bhopal

Chakan

Lucknow

Kottayam

Trivandrum

Bhubaneshwar

Chandigarh

Madurai

Vikhroli

Udaipur

Bilwara

Chennai

Mangalore

Visakhapatnam

 

Calicut

Vizag

Wankaner

Varanasi

 

 

 

DIRECTORS

 

AS ON 27.09.2013

 

Name :

Mr. Anand Kumar Thirani

Designation :

Managing Director

Address :

Flat No.19 and 20, Firpose Co-operative Society Limited, 47A-Bhulabhai Desai Road, Mumbai – 400 026, Maharashtra, India

Date of Birth/Age :

03.09.1956

Qualification :

B. Com

Date of Appointment :

29.05.1981

DIN No.:

00082344

PAN No.:

AAEPT3338G

 

 

Name :

Mr. Sushil Kumar Thirani

Designation :

Whole Time Director

Address :

Flat No.7, A Wing, Sea Face Apartment, 50, Bhulabhai Desai Road, Mumbai – 400 026, Maharashtra, India

Date of Birth/Age :

20.10.1930

Qualification :
Inter Science

Date of Appointment :

30.11.1956

DIN No.:

00082283

PAN No.:

AACPT3467E

 

 

Name :

Mr. Rajkumar Hanumanprasad Saboo

Designation :

Whole Time Director

Address :

Flat No.1902, C Wing, Gundecha Garden, Lal Baug, Mumbai – 400 012, Maharashtra, India

Date of Birth/Age :

19.12.1964

Qualification :

C.A.

Date of Appointment :

01.04.2005

DIN No.:

00053600

PAN No.:

ACPPS6072F

 

 

Name :

Mr. Sameer Ashok Mehta

Designation :

Director

Address :

702, Sukh Sagar Building, Sir Bhalchandra Road, Matunga, Mumbai – 400 019, Maharashtra, India

Date of Birth/Age :

29.11.1976

Date of Appointment :

25.08.2010

DIN No.:

02945481

PAN No.:

AFWPM8893C

 

 

Name :

Mr. Karunakar Govinda Menon

Designation :

Director

Address :

6B, Kannarkat, Condominiums, T.O.C.H. School Road, Vyttilla, Ernakulam – 682 019, Kerala, India

Date of Birth/Age :

08.03.1930

Qualification :

B. Sc., (Tech.), A.M.I.I. Chem. E., A.M.I. Indus. E. (Ind.)

Date of Appointment :

01.04.2005

DIN No.:

00086420

 

 

Name :

Mr. Jagdish Prasad Gupta

Designation :

Director

Address :

Flat No.104, Azalea Apartments, Naber, Pune – 411 045, Maharashtra, India

Date of Birth/Age :

15.10.1935

Date of Appointment :

20.11.1997

DIN No.:

00053681

 

 

Name :

Mr. Satish Kantilal Patel

Designation :

Director

Address :

604, Sibylle Apartments, 65, Worlihill Estate, Worli, Mumbai – 400 018, Maharashtra, India

Date of Birth/Age :

16.05.1936

Date of Appointment :

26.08.2004

DIN No.:

00081904

 

 

Name :

Mr. Vivek Prakash Bagri

Designation :

Director

Address :

Uday Niwas, 29 D, Dongarsi Road, Malabar Hill, Mumbai - 400006, Maharashtra, India

Date of Birth/Age :

08.09.1980

Date of Appointment :

17.05.2013

DIN No.:

03527490

 

 

KEY EXECUTIVES

 

Name :

Mr. Vishnu Ramchandra Murkar

Designation :

Company Secretary

Address :

A-404, New Shreenath Complex Co-Operative Society, Mira Bhayander Road, Mira Road, Thane – 401 107, Maharashtra, India

Date of Birth/Age :

01.06.1979

Date of Appointment :

02.04.2012

PAN No.:

AHLPM0620L

 

 

Name :

Mr. Vimal Bagadia

Designation :

Finance Manager

 

 

MAJOR SHAREHOLDERS

 

AS ON 27.09.2013

 

 

SHAREHOLDERS DETAILS FILE ATTACHED

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 27.09.2013

 

Category

 

Percentage

Bodies corporate

39.54

Directors or relatives of Directors

51.69

Other top fifty shareholders

7.74

Others

1.03

 

 

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Stationery Products, Castings, Auto Components, Yarn, Clothes and API/ Bulk Drugs etc. and also engaged in Building Construction and Development.

 

 

Products :

Products

 

ITC Code No.

Bulk Drugs and Drugs Intermediates

98041000

Other Cast Articles of Iron and Steel

73251000

Carbon Paper

48162090

Cloth

63071010

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Not Available

 

 

Purchasing :

Not Available

 

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Not Available

 

 

Customers :

Not Available

 

 

No. of Employees :

Not Available

 

 

Bankers :

·         Central Bank of India, Corporate Finance Branch, 1st Floor, MMO Building, M.G. Road, Mumbai – 400 023, Maharashtra, India

·         Bank of Baroda, Bhadra Branch, Ahmedabad, Gujarat, India

·         Dena Bank

·         State Bank of Indore

·         State Bank of India

·         ICICI Bank Limited

·         Kotak Mahindra Bank

·         IndusInd Bank

 

 

Facilities :

SECURED LOANS

31.03.2014

Rs. In Millions

31.03.2013

Rs. In Millions

Long Term Borrowings

 

 

Term loans from banks

147.422

477.673

Term loans from others

4.200

6.172

Working capital Loans from others

52.873

64.394

Loans and advances from related parties

72.100

58.600

Long term maturities of finance lease obligations

74.586

204.188

 

 

 

Short Term Borrowings

 

 

Loans repayable on demand from banks

615.733

598.496

Deferred Payment liabilities

0.000

1.799

Intercorporate deposits

114.185

81.022

Deposits from others

146.179

25.176

 

 

 

Total

1227.278

1517.520

 

 

 

Banking Relations :

--

 

 

Membership :

--

 

 

Auditors :

 

Name :

Singhi and Company

Chartered Accountants

 Address :

901-A, Twin Tower, Lokhandwala Complex, 2nd Cross Lane, Andheri (West), Mumbai – 400053, Maharashtra, India 

PAN No.:

AAOFS5579C

 

 

Associate Companies :

·         Kores Services Limited, India

·         Solar Packaging Private Limited

·         Pepega ( Insulation and Packaging) Limited

·         Quality Inks Private Limited, India

·         Shri Amarsinhji Stationery Industries Limited

·         Art Enterprises, India

·         Livedarshan India Private Limited

·         Aum High Power Plating And Equipments Private Limited

·         Matrix Business Machines Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 27.09.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

15000000

Equity Shares

Rs.10/- each

Rs.150.000 Millions

250000

Preference Shares

Rs.100/- each

Rs.25.000 Millions

 

 

 

 

 

Total

 

Rs.175.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

11000000

Equity Shares

Rs.10/- each

Rs.110.000 Millions

200000

Preference Shares

Rs.100/- each

Rs.20.000 Millions

 

 

 

 

 

Total

 

Rs.130.000 Millions

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

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

130.000

130.000

130.000

(b) Reserves & Surplus

744.665

703.055

792.396

(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)

874.665

833.055

922.396

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

373.041

837.605

738.069

(b) Deferred tax liabilities (Net)

0.000

0.000

10.706

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

116.728

118.256

104.964

Total Non-current Liabilities (3)

489.769

955.861

853.739

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

876.097

706.493

856.530

(b) Trade payables

1466.038

1236.057

1357.296

(c) Other current liabilities

343.185

552.987

543.097

(d) Short-term provisions

19.659

24.179

34.430

Total Current Liabilities (4)

2704.979

2519.716

2791.353

 

 

 

 

TOTAL

4069.413

4308.632

4567.488

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1375.039

1786.118

1741.642

(ii) Intangible Assets

0.923

2.291

2.959

(iii) Capital work-in-progress

16.237

20.157

64.513

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

7.525

8.331

10.022

(c) Deferred tax assets (net)

51.067

38.197

0.000

(d)  Long-term Loan and Advances

5.599

9.514

10.976

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

1456.390

1864.608

1830.112

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

1069.880

836.662

900.629

(c) Trade receivables

1009.594

1075.949

1286.713

(d) Cash and cash equivalents

65.473

78.362

63.992

(e) Short-term loans and advances

466.305

450.644

483.134

(f) Other current assets

1.771

2.407

2.908

Total Current Assets

2613.023

2444.024

2737.376

 

 

 

 

TOTAL

4069.413

4308.632

4567.488

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

6463.425

6534.978

7507.496

 

 

Other Income

98.200

33.151

31.783

 

 

TOTAL                                                     (A)

6561.625

6568.129

7539.279

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

2369.819

2231.896

2938.353

 

 

Purchase of Stock-in-trade

1887.822

1856.749

2116.060

 

 

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

(234.777)

20.150

(115.922)

 

 

Employee Benefits Expenses

683.564

674.574

684.556

 

 

Other Expenses

1400.483

1445.457

1658.906

 

 

Expenditure on production, transportation & other expenditure pertaining to E&P activities

1.571

56.739

0.000

 

 

Extraordinary items

38.737

0.674

0.094

 

 

TOTAL                                                     (B)

6147.219

6286.239

7282.047

 

 

 

 

 

 

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

414.406

281.890

257.232

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

216.411

254.590

253.953

 

 

 

 

 

 

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

197.995

27.300

3.279

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION                     (F)

159.992

165.264

183.115

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX (E-F)                   (G)     

38.003

(137.964)

(179.836)

 

 

 

 

 

Less

TAX                                                                  (H)

(3.605)

(48.623)

(43.844)

 

 

 

 

 

 

PROFIT/(LOSS) AFTER TAX (G-H)                    (I)

41.608

(89.341)

(135.992)

 

 

 

 

 

 

Earnings Per Share (Rs.)

3.58

(8.32)

(12.56)

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

PAT / Sales

(%)

0.64

(1.37)

(1.81)

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

6.41

4.31

3.43

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.95

(3.25)

(4.00)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.04

(0.17)

(0.19)

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.43

1.85

1.73

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.97

0.97

0.98

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Millions

Rs. In Millions

Rs. In Millions

Share Capital

130.000

130.000

130.000

Reserves & Surplus

792.396

703.055

744.665

Net worth

922.396

833.055

874.665

 

 

 

 

long-term borrowings

738.069

837.605

373.041

Short term borrowings

856.530

706.493

876.097

Total borrowings

1594.599

1544.098

1249.138

Debt/Equity ratio

1.729

1.854

1.428

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Millions

Rs. In Millions

Rs. In Millions

Sales

7507.496

6534.978

6463.425

 

 

(12.954)

(1.095)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

Rs. In Millions

Rs. In Millions

Rs. In Millions

Sales

7507.496

6534.978

6463.425

Profit

(135.992)

(89.341)

41.608

 

(1.81%)

(1.37%)

0.64%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check List by Info Agents

Available in Report (Yes / No)

1]

Year of Establishment

Yes

2]

Locality of the firm

Yes

3]

Constitutions of the firm

Yes

4]

Premises details

No

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

Yes

8]

No. of employees

No

9]

Name of person contacted

No

10]

Designation of contact person

No

11]

Turnover of firm for last three years

Yes

12]

Profitability for last three years

Yes

13]

Reasons for variation <> 20%

-----------

14]

Estimation for coming financial year

No

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

17]

Major suppliers

No

18]

Major customers

No

19]

Payments terms

No

20]

Export / Import details (if applicable)

No

21]

Market information

----------

22]

Litigations that the firm / promoter involved in

----------

23]

Banking Details

Yes

24]

Banking facility details

Yes

25]

Conduct of the banking account

----------

26]

Buyer visit details

----------

27]

Financials, if provided

Yes

28]

Incorporation details, if applicable

Yes

29]

Last accounts filed at ROC

Yes

30]

Major Shareholders, if available

Yes

31]

Date of Birth of Proprietor/Partner/Director, if available

Yes

32]

PAN of Proprietor/Partner/Director, if available

No

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

Yes

 

 

UNSECURED LOANS:

 

Particulars

31.03.2014

Rs. In Millions

31.03.2013

Rs. In Millions

Long Term Borrowings

 

 

Deferred Payment liabilities

21.840

26.578

 

 

 

Total

21.840

26.578

 

 

INDEX OF CHARGE:

 

Sr. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10537541

29/11/2014

40,000,000.00

TATA CAPITAL FINANCIAL SERVICES LIMITED

ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

C37464708

2

10516261

31/07/2014

18,520,725.00

SIEMENS FINANCIAL SERVICES PRIVATE LIMITED

130, PANDURANG BUDHKAR MARG,, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA

C17648692

3

10483549

22/02/2014

154,700,000.00

DENA BANK

INDUSTRIAL FINANCE BRANCH, 1ST FLOOR,, 17, HORNIMAN CIRCLE, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA

B98891096

4

10247777

30/09/2010

140,000,000.00

KOTAK MAHINDRA BANK LIMITED

36-38A, NARIMAN BHAVAN, 227,D,, NARIMAN POINT,, MUMBAI, MAHARASHTRA - 400021, INDIA

A96937933

5

10241933

07/09/2010

99,500,000.00

CENTRAL BANK OF INDIA

CORPORATE FINANCE BRANCH,IST FLOOR, MMO BUILDING, M.G.ROAD, MUMBAI, MAHARASHTRA - 400023, INDIA

A95642153

6

10193856

30/12/2009

10,000,000.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A76460278

7

10171970

29/07/2009

12,500,000.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA

A67585737

8

10152248

13/03/2009

100,600,000.00

CENTRAL BANK OF INDIA

CORPORATE FINANCE BRANCH,, IST FLOO,

M.M.O. BUILDING,

M.G.ROAD,FORT, MUMBAI, MAHARASHTRA - 400023, INDIA

A60006475

9

10132526

14/11/2008

90,000,000.00

CENTRAL BANK OF INDIA

CORPORATE FINANCE BRANCH,, MMO. BUILDING,1ST FLOOR,

M.G.ROAD,FORT,, MUMBAI, MAHARASHTRA - 400001, INDIA

A52096740

10

10107905

11/02/2008

8,000,000.00

KOTAK MAHINDRA BANK LIMITED

36-38A, NARIMAN BHAVAN, 227,D,, NARIMAN POINT,, MUMBAI, MAHARASHTRA - 400021, INDIA

A40256232

11

10077021

25/08/2010 *

150,000,000.00

STATE BANK OF INDIA

INDUSTRIAL FINANCE BRANCH, THE ARCADE, 2ND FLOOR,, WORLD TRADE CENTRE, CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA

A95872693

12

10038604

13/02/2007

19,385,000.00

CENTRAL BANK OF INDIA

CORPORATE FINANCE BRANCH,1ST FLOOR, MMO BUILDING, M.G.ROAD, MUMBAI, MAHARASHTRA - 400023, INDIA

A11179967

13

10007703

13/02/2007 *

190,000,000.00

CENTRAL BANK OF INDIA

CORPORATE FINANCE BRANCH,1ST FLOOR, MMO BUILDING, M.G.ROAD, MUMBAI, MAHARASHTRA - 400023, INDIA

A01083674

14

10487478

23/01/2006

6,000,000.00

ICICI BANK LTD

ICICI BANK TOWER BANDRA KURLA COMPLEX BANDRA EAST, MUMBAI, MUMBAI, MAHARASHTRA - 400051, INDIA

A01565167

15

90241332

30/03/2007 *

399,100,000.00

STATE BANK OF INDIA

INDUSTRIAL FINANCE BRANCH,, WORLD TRADE CENTRE, CUFFE PARADE,, MUMBAI, MAHARASHTRA - 400005, INDIA

-

16

90244299

14/11/2005 *

36,000,000.00

CENTRAL BANK OF INDIA

M G ROAD, FORT, MUMBAI, MAHARASHTRA, INDIA

-

17

90240350

31/01/2007 *

595,700,000.00

CENTRAL BANK OF INDIA

CORPORATE FINANCE BRANCH,1ST FLOOR,, MMO BUILDING,

M.G.ROAD,FORT, MUMBAI, MAHARASHTRA - 400023, INDIA

-

18

80024589

10/10/2014 *

1,833,500,000.00

CENTRAL BANK OF INDIA

CORPORATE FINANCE BRANCH,IST FLOOR, MMO BUILDING, M.G.ROAD, MUMBAI, MAHARASHTRA - 400023, INDIA

C32039554

 

*Date of modification Charges

 

 

FIXED ASSETS:

 

·         Land

·         Building

·         Plant and Machinery

·         Furniture and Fixture

·         Office Equipment

·         Computer

·         Vehicles

 

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.61.74

UK Pound

1

Rs.92.71

Euro

1

Rs.69.94

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NKT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

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

4

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

4

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

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

 

43

 

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.