MIRA INFORM REPORT
|
Report No. : |
306120 |
|
Report Date : |
05.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHUBHALAKSHMI POLYESTERS LIMITED |
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|
|
|
Registered
Office : |
401, A-Wing, Oberoi Chambers, Near Kuber, Andheri Link Road, Andheri (West),
Mumbai – 400053, Maharashtra |
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|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
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Date of
Incorporation : |
13.09.2005 |
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Com. Reg. No.: |
11-190937 |
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Capital
Investment / Paid-up Capital : |
Rs.363.750 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17110MH2005PLC190937 |
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|
IEC No.: |
Not Available |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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|
PAN No.: [Permanent Account No.] |
AAJCS2757C |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The Subject is engaged in the Manufacturing of POY Yarn, Texturized yarn, DT Yarn, FDY Carrying on Twisting Process of Yarn and Subject has also started Manufacturing of Polyester Chips |
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No. of Employees
: |
Information decline by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6800000 |
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|
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|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. General financial position of the company is normal and acceptable for
business dealings. Trade relations are reported as fair. Business is active. Payment terms
are reported to be usually 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 |
CARE |
|
Rating |
Long Term Bank Facilities=BBB- |
|
Rating Explanation |
Moderate degree of safety. It carry moderate
credit risk. |
|
Date |
04.04.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities=A3 |
|
Rating Explanation |
Moderate degree of safety. It carry higher
credit risk. |
|
Date |
04.04.2014 |
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.
INFORMATION DENIED
Management Non-cooperative (Tel No. : 91-22-26744375)
LOCATIONS
|
Registered/ Corporate Office : |
401, A-Wing, Oberoi Chambers, Near Kuber, Andheri Link Road, Andheri
(West), Mumbai – 400053, Maharashtra, India |
|
Tel. No.: |
91-22-26744375 / 6 |
|
Fax No.: |
91-22-26744377 |
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E-Mail : |
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|
Website : |
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Location: |
Owned |
|
|
|
|
Head Office : |
418, Jeevandeep Complex, Opposite J. K. Tower, Ring Road, Surat – 395002, Gujarat, India |
|
Tel No.: |
91-261-2354402/3 |
|
Fax No.: |
91-261-2354401 |
|
E-mail Id : |
|
|
|
|
|
Factory 1: |
Survey No.179/1/2, Village: Silli, Silvassa – 396230, Union Territory of Dadra and Nagar Haveli, India |
|
Tel. No.: |
91-260-3253441 / 42 |
|
Fax No.: |
91-260-2632939 |
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E-Mail : |
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Factory 2: |
376/2, 16-17-22, Opposite Rishi Packer, Kachigam, Union Territory of Daman and Diu, India |
|
Tel No.: |
91-260 - 2240117 / 2241535 |
|
|
|
|
Factory 3 : |
Survey No 126, Dahej PCPIR Dist Bharuch, Bhensali -392131, Gujarat, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Ajay Agarwal |
|
Designation : |
Managing Director |
|
Address : |
A-302, Nanadigram Apartments, Ghod Dod Road, Opposite Parle Point, Surat-395001,
Gujarat, India |
|
Date of Birth/Age : |
23.02.1963 |
|
Date of Appointment : |
01.04.2012 |
|
PAN No.: |
AACPA1348P |
|
DIN No.: |
00088953 |
|
|
|
|
Name : |
Mr. Vikas Agarwal |
|
Designation : |
Director |
|
Address : |
51-A, Royal Accord IV Apnaghar Layout, Lokhandwala, Andheri (West),
Mumbai-400053, Maharashtra, India |
|
Date of Birth/Age : |
30.08.1981 |
|
Date of Appointment : |
01.04.2012 |
|
PAN No.: |
ADVPA1863D |
|
DIN No.: |
00089659 |
|
|
|
|
Name : |
Mr. Ramu Raman Late Babulal Agarwal |
|
Designation : |
Director |
|
Address : |
51-A, Royal Accord IV Apnaghar Layout, Lokhandwala, Andheri (West),
Mumbai-400053, Maharashtra, India |
|
Date of Birth/Age : |
22.11.1949 |
|
Date of Appointment : |
30.06.2011 |
|
DIN No.: |
00203860 |
|
|
|
|
Name : |
Mr. Manoj Agarwal |
|
Designation : |
Director |
|
Address : |
41-Royal Accord, 4th Floor, Opposite Lokhandwala Complex,
Andheri (West) Mumabi-400090, Maharashtra, India |
|
Date of Birth/Age : |
16.08.1977 |
|
Date of Appointment : |
13.09.2005 |
|
PAN No.: |
AAKPA6827F |
|
DIN No.: |
00267951 |
KEY EXECUTIVES
|
Name : |
Mr. Nishi Mukesh Vijay Vargiya |
|
Designation : |
Company Secretary |
|
Address : |
1306-D Block, Ambedkar Nagar, Senapati BApat Marg, Elphinstone (West), Mumbai-400013, Maharashtra, Indi |
|
Date of Birth/Age : |
08.02.1985 |
|
Date of Appointment : |
10.07.2014 |
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PAN No.: |
AHLPV5883G |
|
|
|
|
Name : |
Mr. Sanjay Jain |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Ajaykumar Agarwal |
846020 |
|
Bankesh Chandra Agarwal |
748445 |
|
Ramu Raman Agarwal |
737392 |
|
Manoj Kumar Agarwal |
563000 |
|
Vikas Agarwal |
526333 |
|
Shailendra Chaudhary |
34333 |
|
Vikram Chaudhary |
1000 |
|
Shubhlaxmi Dyetex Private Limited, India |
31566072 |
|
Ajay Kumar Agarwal –HUF |
97523 |
|
Babulal Agarwal –HUF |
54028 |
|
Bankesh Chandra Agarwal –HUF |
68334 |
|
Ramau Raman Agarwal - HUF |
162053 |
|
Gayatri Devi Agarwal |
136787 |
|
Kanta Agarwal |
3000 |
|
Narangi Devi Agarwal |
99000 |
|
Suman Agarwal |
399825 |
|
Chandra Choudhary |
12500 |
|
Shubhalakshmi Petro-Yarns Private Limited, India |
841337 |
|
Shyam Sunder Choudhary |
1000 |
|
Ravindra Choudhary |
1000 |
|
Sunil Agarwal |
1000 |
|
Raghuvendra Agarwal |
1000 |
|
Shankarlal Saini |
1000 |
|
Samridhi Global Industries Private Limited |
2835400 |
|
|
|
|
TOTAL
|
39737382 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
88.69 |
|
Directors
or relatives of directors |
11.17 |
|
Other top fifty shareholders |
0.14 |
|
|
|
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Subject is engaged in the Manufacturing of POY Yarn, Texturized yarn, DT Yarn, FDY Carrying on Twisting Process of Yarn and Subject has also started Manufacturing of Polyester Chips |
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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 : |
Not Divulged |
PRODUCTION STATUS - NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information decline by the management
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Bankers : |
· Bank of Baroda, Parsi, Sheri Branch, Surat-395003, Gujarat, India · State Bank of India - State Bank of India, BOB- Parsi, Sheri BR SBI – Special Commercial BR, Surat – 395003, Gujarat, India · IDBI Bank Limited, ESS En House, Ghod Dod Road, Surat - 395007, Gujarat, India · Allahabad Bank · IDBI Bank · Axis Bank Limited · Kotak Mahindra Bank · State Bank of Travancore |
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Facilities : |
SECURED
LOAN
|
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Banking
Relations : |
--- |
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Auditors : |
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|
Name : |
Pradeep Singhi and Associates Chartered Accountants |
|
Address : |
A/501, President Plaza, Near RTO, Ring Road, Nanpura, Surat, Gujarat, India |
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PAN No: |
ADRPS1701L |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company : |
Shubhlaxmi
Dyetex Private Limited [U17119GJ1991PTC014906] |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45000000 |
Equity Shares |
Rs.10/- each |
Rs. 450.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
39737382 |
Equity Shares |
Rs.10/- each |
Rs. 397.374
millions |
|
|
|
|
|
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs. 400.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
36374988 |
Equity Shares |
Rs.10/- each |
Rs. 363.750
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 |
363.750 |
339.917 |
246.977 |
|
(b) Reserves &
Surplus |
2015.464 |
1755.144 |
1073.423 |
|
(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) |
2379.214 |
2095.061 |
1320.400 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
3023.394 |
3214.659 |
2257.401 |
|
(b) Deferred tax
liabilities (Net) |
283.463 |
200.536 |
136.660 |
|
(c) Other long term
liabilities |
396.164 |
283.664 |
66.423 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
3703.021 |
3698.859 |
2460.484 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2581.963 |
1350.044 |
460.023 |
|
(b) Trade payables |
1371.937 |
1697.274 |
514.039 |
|
(c) Other current
liabilities |
483.992 |
263.687 |
239.304 |
|
(d) Short-term provisions |
194.070 |
149.106 |
110.367 |
|
Total Current Liabilities
(4) |
4631.962 |
3460.111 |
1323.733 |
|
|
|
|
|
|
TOTAL |
10714.197 |
9254.031 |
5104.617 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
5280.609 |
5162.231 |
1566.406 |
|
(ii) Intangible Assets |
0.524 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
4.284 |
7.072 |
1845.567 |
|
(iv) Intangible assets
under development |
4.272 |
40.733 |
30.668 |
|
(b) Non-current Investments |
31.462 |
35.101 |
35.093 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
40.868 |
33.535 |
22.134 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
5362.019 |
5278.672 |
3499.868 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
2.636 |
2.627 |
53.025 |
|
(b) Inventories |
1242.243 |
1345.803 |
373.126 |
|
(c) Trade receivables |
2343.067 |
1622.390 |
722.559 |
|
(d) Cash and cash equivalents |
1001.248 |
376.191 |
268.948 |
|
(e) Short-term loans and
advances |
760.493 |
625.364 |
185.353 |
|
(f) Other current assets |
2.491 |
2.984 |
1.738 |
|
Total Current Assets |
5352.178 |
3975.359 |
1604.749 |
|
|
|
|
|
|
TOTAL |
10714.197 |
9254.031 |
5104.617 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
Income |
21544.708 |
7504.468 |
5669.152 |
|
|
|
Other Income |
9.791 |
4.510 |
8.808 |
|
|
|
TOTAL (A) |
21554.499 |
7508.978 |
7508.978 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
Cost of Materials
Consumed |
18583.319 |
6437.743 |
4709.905 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(18.064) |
(151.332) |
(62.781) |
|
|
|
Employees benefits
expense |
258.261 |
127.219 |
97.475 |
|
|
|
Other expenses |
1410.995 |
625.510 |
538.131 |
|
|
|
TOTAL (B) |
20234.511 |
7039.140 |
5282.730 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
1319.988 |
469.838 |
395.230 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
823.712 |
166.059 |
102.354 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
496.276 |
303.779 |
292.876 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
286.666 |
111.431 |
94.666 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
209.610 |
192.348 |
198.210 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
9.358 |
(0.023) |
33.847 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
200.252 |
192.371 |
164.363 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
5.51 |
5.66 |
6.65 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.93 |
2.56 |
2.90 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
6.13 |
6.26 |
6.97 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.96 |
2.10 |
6.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.09 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.36 |
2.18 |
2.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.16 |
1.15 |
1.21 |
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 |
246.977 |
339.917 |
363.750 |
|
Reserves & Surplus |
1073.423 |
1755.144 |
2015.464 |
|
Net
worth |
1320.400 |
2095.061 |
2379.214 |
|
|
|
|
|
|
long-term borrowings |
2257.401 |
3214.659 |
3023.394 |
|
Short term borrowings |
460.023 |
1350.044 |
2581.963 |
|
Total
borrowings |
2717.424 |
4564.703 |
5605.357 |
|
Debt/Equity
ratio |
2.058 |
2.179 |
2.356 |
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 |
5669.152 |
7504.468 |
21544.708 |
|
|
|
32.374 |
187.092 |
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 |
5669.152 |
7504.468 |
21544.708 |
|
Profit |
164.363 |
192.371 |
200.252 |
|
|
2.90% |
2.56% |
0.93% |
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 four 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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
CHANGE OF ADDRESS
The Registered Office of the company has been shifted from “418
Jeevandeep Complex, Opposite J.K. Tower Ring road, Surat – 395002, Gujarat,
India” to present w.e.f 23.02.2009.
OPERATIONS:
The company has
started production in Dahej unit, Dahej unit is producing PET Chips and POY /
FDY, due to which Companies sales has mainly increased from 7504.500 Millions
to 21544.700 Millions.
This new Dahej
Unit production helps company to manufacture PET Chips and POY / FDY from
direct spinning of PTA & MEG. PET chips manufactured in the unit has
partially consumed as a raw material for manufacturing of POY, FDY & Mother
yarn in existing unit.
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 [Rs.
in Millions] |
31.03.2013 [Rs.
in Millions] |
|
LONG TERM BORROWINGS |
|
|
|
Deposits from directors |
1.500 |
6.796 |
|
Loans and advances from related parties |
0.000 |
100.000 |
|
|
|
|
|
TOTAL
|
1.500 |
106.796 |
INDEX OF CHARGES
|
S. NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10455072 |
05/10/2013 |
5,387,200,000.00 |
BANK OF BARODA |
PARSI SHERI BRANCH, SURAT - 395003, GUJARAT, INDIA |
B87492393 |
|
2 |
10455073 |
05/10/2013 |
5,387,200,000.00 |
BANK OF BARODA |
PARSI SHERI BRANCH, SURAT - 395003, GUJARAT, INDIA |
B87491700 |
|
3 |
10432231 |
17/06/2013 |
500,000,000.00 |
BANK OF BARODA |
PARSI SHERI BRANCH, SURAT - 395003, GUJARAT, INDIA |
B77561694 |
|
4 |
10359331 |
06/06/2012 |
58,500,000.00 |
IDBI BANK LIMITED |
IDBI TOWER WTC COMPLEX, CUFFE PARADE, MUMBAI, BRANCH AT 2ND FLOOR, ESSEN HOUSE, GHOD DOD ROAD, SURAT - 395009, GUJARAT, INDIA |
B41088253 |
|
5 |
10358963 |
11/05/2012 |
150,000,000.00 |
STATE BANK OF TRAVANCORE |
RAJHANS COMPLEX, 0PP.J.K TOWER, RING ROAD,SURAT, SURAT - 395002, GUJARAT, INDIA |
B40909608 |
|
6 |
10201640 |
01/02/2010 |
89,000,000.00 |
IDBI BANK LIMITED |
ESS EN HOUSE, GHOD DOD ROAD, SURAT - 395007, GUJARAT, INDIA |
A79150314 |
|
7 |
10009861 |
16/06/2013 * |
113,600,000.00 |
STATE BANK OF INDIA |
MID CORPORATE GROUP
INDUSTRIAL FINANCE BRANCH, MARBLE ARCH, RACE COURSE CIRCLE, VADODARA - |
B79181020 |
|
8 |
10007280 |
30/01/2013 * |
7,369,600,000.00 |
BANK OF BARODA |
PARSI SHERI BRANCH, SURAT - 395003, GUJARAT, INDIA |
B67573303 |
|
9 |
90094980 |
28/06/1997 |
11,700,000.00 |
BANK OF BARODA |
PARSI SHERI BRANCH, SURAT - 395003, GUJARAT, INDIA |
- |
|
10 |
90243086 |
12/04/1991 |
4,750,000.00 |
STATE BANK OF INDIA |
SP COMM. BRNCH, SURAT, GUJARAT, INDIA |
- |
* Date of charge modification
FIXED ASSETS
· Land and Buildings
· Plant and Equipment
· Furniture and Fixtures
· 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,
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.61.68 |
|
|
1 |
Rs.93.53 |
|
Euro |
1 |
Rs.70.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
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 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
45 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major sections
of this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.