MIRA
INFORM REPORT
|
Report No. : |
307130 |
|
Report Date : |
09.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
MEDIBIOS LABORATORIES PRIVATE LIMITED |
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Registered
Office : |
102,Shree Mangalam,1st Floor, Kulupwadi, Borivali (E), Mumbai-400066, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
08.03.1995 |
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Com. Reg. No.: |
11-086180 |
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Capital
Investment / Paid-up Capital : |
Rs. 23.682 Millions |
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|
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CIN No.: [Company Identification
No.] |
U24230MH1995PTC086180 |
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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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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Pharmaceutical Formulations including Tablets, Capsules, Liquids, Ointments and Powders. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 270000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a part of Medibios group. It is an established company having moderate track. The rating takes into consideration group’s moderate scale of
operations, working capital intensive and susceptibility to intense
competition in the pharmaceuticals formulations segment. However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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 terms rating B+ |
|
Rating Explanation |
Have high risk of default |
|
Date |
April 3, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short terms rating B+ |
|
Rating Explanation |
Have minimal degree of safety and carry very high risk. |
|
Date |
April 3, 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 : |
102,Shree Mangalam,1st Floor, Kulupwadi, Borivali (E), Mumbai-400066,
Maharashtra, India |
|
Tel. No.: |
91-22-42090230 |
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Fax No.: |
91-22-28868456 |
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E-Mail : |
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Manufacturing Facility : |
J -76, Tarapur Industrail Area, Village Saeavali, Taluka Palghar,
District Thane, Maharashtra, India |
SOLE PROPRIETOR/PARTNERS/DIRECTORS
As on 26.09.2014
|
Name : |
Mr. Tushar Anil Korday |
|
Designation : |
Managing director |
|
Address : |
B-203/204, Shatidwar, Shantivan, Near National Park, Borivali (East),
Mumbai-400066, Maharashtra, India |
|
Date of Birth/Age : |
24.02.1956 |
|
Date of Appointment : |
14.05.2010 |
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DIN No.: |
00738316 |
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Name : |
Mrs. Sahlaja Tushar Korday |
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Designation : |
Director |
|
Address : |
B-203/204, Shatidwar, Shantivan, Near National Park, Borivali (East), Mumbai-400066,
Maharashtra, India |
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Date of Birth/Age : |
31.05.1960 |
|
Date of Appointment : |
09.07.1997 |
|
DIN No.: |
00738361 |
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|
|
|
Name : |
Mrs. Jyoti Rajendra Gole |
|
Designation : |
Director |
|
Address : |
14/372, Bhardwaj, Roop Nagar, Bandra (East), Mumbai-400051,
Maharashtra, India |
|
Date of Birth/Age : |
26.04.1959 |
|
Date of Appointment : |
13.12.1999 |
|
DIN No.: |
00738400 |
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|
|
|
Name : |
Mr. Yogesh Rajendra Gole |
|
Designation : |
Director |
|
Address : |
14/372, Bhardwaj, Roop Nagar, Bandra (East), Mumbai-400051,
Maharashtra, India |
|
Date of Birth/Age : |
29.01.1984 |
|
Date of Appointment : |
01.11.2011 |
|
DIN No.: |
03443157 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Mr. Tushar Anil Korday |
224016 |
9.46 |
|
Mrs. Sahlaja Tushar Korday |
396470 |
16.74 |
|
Mr. Rajendra fatttensinh Gole |
182546 |
7.71 |
|
Mrs. Jyoti Rajendra Gole |
441340 |
18.64 |
|
Mr. Yogesh Rajendra Gole |
38000 |
1.60 |
|
Tushar Anil Korday HUF |
80214 |
3.39 |
|
C.F. Gole HUF |
30814 |
1.30 |
|
Rajendra fatttensinh Gole HUF |
10000 |
0.42 |
|
Sanjeev R. Patange HUF |
7000 |
0.30 |
|
Emil Pharmaceutical Inds Private Limited |
732800 |
30.94 |
|
Emil Holdings Private Limited |
225000 |
9.50 |
|
Total |
2368200 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
40.44 |
|
Directors or relatives of Directors |
59.56 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceutical Formulations including Tablets, Capsules, Liquids, Ointments and Powders. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
State Bank of India, Kandivali Industrial Estate Br, Near Hindustan,
Mumbai - 400067,Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
|
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Auditors : |
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|
Name : |
R. G. Mehta and Company Chartered Accountants |
|
Address : |
J-4, Mangal Kunj, S V. Road, Opposite Indraprasth, Shopping Centre,
Borivali (West), Mumbai- 400092, Maharashtra, India |
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PAN No.: |
AAJFR6464Q |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on 26.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs. 75.000 Millions |
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|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2368200 |
Equity Shares |
Rs.10/- each |
Rs.23.682
Millions |
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|
|
|
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 |
23.682 |
23.682 |
23.682 |
|
(b) Reserves & Surplus |
70.157 |
55.965 |
46.672 |
|
(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) |
93.839 |
79.647 |
70.354 |
|
|
|
|
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|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.226 |
6.665 |
14.806 |
|
(b) Deferred tax liabilities (Net) |
21.071 |
20.363 |
20.290 |
|
(c) Other long term liabilities |
33.884 |
34.508 |
34.508 |
|
(d) long-term provisions |
0.575 |
0.325 |
1.170 |
|
Total Non-current Liabilities (3) |
55.756 |
61.861 |
70.774 |
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|
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|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
66.557 |
71.789 |
70.729 |
|
(b) Trade payables |
68.802 |
55.028 |
64.559 |
|
(c) Other current
liabilities |
17.232 |
26.998 |
14.532 |
|
(d) Short-term provisions |
5.413 |
1.865 |
1.870 |
|
Total Current Liabilities (4) |
158.004 |
155.680 |
151.690 |
|
|
|
|
|
|
TOTAL |
307.599 |
297.188 |
292.818 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
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|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
158.403 |
156.182 |
143.769 |
|
(ii) Intangible Assets |
0.627 |
0.997 |
1.366 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
14.789 |
20.865 |
18.415 |
|
(e) Other Non-current assets |
8.284 |
12.856 |
9.306 |
|
Total Non-Current Assets |
182.103 |
190.900 |
172.856 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
46.110 |
52.556 |
45.037 |
|
(c) Trade receivables |
73.888 |
50.901 |
71.316 |
|
(d) Cash and cash
equivalents |
0.514 |
0.510 |
0.418 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
4.984 |
2.321 |
3.191 |
|
Total Current Assets |
125.496 |
106.288 |
119.962 |
|
|
|
|
|
|
TOTAL |
307.599 |
297.188 |
292.818 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
362.811 |
345.261 |
315.124 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
319.236 |
309.831 |
281.853 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
43.575 |
35.430 |
33.271 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
13.483 |
12.043 |
16.184 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
30.092 |
23.387 |
17.087 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
10.056 |
9.292 |
8.414 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
20.036 |
14.095 |
8.673 |
|
|
|
|
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|
|
|
|
Less |
TAX (H) |
6.508 |
3.973 |
1.635 |
|
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|
|
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|
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|
|
PROFIT AFTER TAX
(G-H) (I) |
13.528 |
10.122 |
7.038 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
8.900 |
5.466 |
4.772 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
15.000 |
6.000 |
6.000 |
|
|
|
Proposed Dividend |
0.355 |
0.355 |
0.296 |
|
|
|
Dividend Tax |
0.057 |
0.057 |
0.048 |
|
|
|
Income Tax |
(1.080) |
0.276 |
0.000 |
|
|
|
Sales Tax |
(0.136) |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
14.196 |
6.688 |
6.344 |
|
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|
|
|
|
|
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|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.475 |
29.192 |
2.472 |
|
|
TOTAL EARNINGS |
0.475 |
29.192 |
2.472 |
|
|
|
|
|
|
|
|
|
|
C.I.F IMPORTS |
0.386 |
22.663 |
14.188 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.71 |
4.27 |
2.97 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
3.73 |
2.93 |
2.23 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
12.01 |
10.26 |
10.56 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.51 |
4.74 |
2.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.18 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.71 |
0.99 |
1.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.79 |
0.68 |
0.79 |
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 |
23.682 |
23.682 |
23.682 |
|
Reserves & Surplus |
46.672 |
55.965 |
70.157 |
|
Net
worth |
70.354 |
79.647 |
93.839 |
|
|
|
|
|
|
long-term borrowings |
14.806 |
6.665 |
0.226 |
|
Short term borrowings |
70.729 |
71.789 |
66.557 |
|
Total
borrowings |
85.535 |
78.454 |
66.783 |
|
Debt/Equity
ratio |
1.216 |
0.985 |
0.712 |
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 |
315.124 |
345.261 |
362.811 |
|
|
|
9.564 |
5.083 |
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 |
315.124 |
345.261 |
362.811 |
|
Profit |
7.038 |
10.122 |
13.528 |
|
|
2.23% |
2.93% |
3.73% |
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 |
No |
|
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 |
No |
Note:
Registered office of the company has been shifted from 1,
Shethi sadan, Plot no. 221, Jawar Nagar, Goregoan (west), India to the present
address w.e.f.14.02.1995
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Short Term
Borrowing |
|
|
|
Loans repayable
on demand |
|
|
|
Loans from related Parties |
0.000 |
0.228 |
|
Other |
0.000 |
4.277 |
|
Total |
0.000 |
4.505 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90350072 |
14/12/2012 * |
23,400,000.00 |
State Bank of India |
Kandivli Industrial Estate Branch, Near Hindustan Naka, Kandivli
(West), Mumbai, Maharashtra - 400067, INDIA |
B79612008 |
|
2 |
90350000 |
25/03/2014 * |
185,600,000.00 |
State Bank of India |
Kandivali Industrial Estate Br, near Hindustan-, |
C05309851 |
* Date of charge modification
FIXED ASSETS
Furniture and fixtures
Plant and Machinery
Vehicle
Computer
Land
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 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.61.43 |
|
|
1 |
Rs.94.65 |
|
Euro |
1 |
Rs.70.78 |
INFORMATION DETAILS
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
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 |
|
32 |
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.