MIRA
INFORM REPORT
|
Report No. : |
307088 |
|
Report Date : |
09.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHANKAR PACKAGINGS LIMITED |
|
|
|
|
Formerly Known
As : |
SHANKAR PACKAGINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
303, Turf Estate, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
06.05.1985 |
|
|
|
|
Com. Reg. No.: |
11-036120 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 28.050 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25202MH1985PLC036120 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDS01961B / MUMS40482B / MUMS40819C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS8076P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing
of FIBC Bags. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2480000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating reflect SPL’s established market position in the flexible intermediate
bulk carrier (FIBC) segment of the packaging industry supported by sound
financial base and fair profitability margins of the company. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered 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+ (Suspended) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
13.08.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating=A2 (Suspended) |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
13.08.2014 |
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 DECLINED BY
|
Name : |
Mr. Santosh |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-24903228 |
|
Date : |
22.01.2015 |
|
|
|
|
Name : |
Mr. Avnish |
|
Designation : |
General Manager (Accounts) |
|
Contact No.: |
91-9601549790 |
|
Date : |
22.01.2015 |
LOCATIONS
|
Registered / Corporate Office: |
303, Turf Estate, Dr. E. Moses Road, Shakti Mills Lane, Mumbai –
400011, Maharashtra, India |
|
Tel. No.: |
91-22-24903236/ 24903225/ 24903228 |
|
Mobile No.: |
91-9601549790 (Mr. Avnish) |
|
Fax No.: |
91-22-24903227 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory/ Sales Office : |
2-3-4-5-6, GIDC Estate, Vaghodia,
District: Vadodara – 391760, Gujarat, India |
|
Tel. No.: |
91-2668-262334/ 262434 |
|
Fax No.: |
91-2668-262833 |
|
|
|
|
Branch Office : |
(Hyderabad -
Marketing) 508, Maheshwari Chambers, Somajiguda, Hyderabad – 500082, Andhra
Pradesh, India |
|
Tel. No.: |
91-40-40038828 |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Vikramshankar Govindshankar Pandya |
|
Designation : |
Managing Director |
|
Address : |
A/5, Garib CHSL, N.S. Road, No.5, JVPD, Juhu, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
16.04.1961 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
09.04.2013 |
|
PAN No.: |
AGJPP9410C |
|
DIN No.: |
01595269 |
|
Other Directorship
: |
|
|
|
|
|
Name : |
Mr. Gaj Singh Jodhpur |
|
Designation : |
Director |
|
Address : |
Umaid Bhavan Palace, Jodhpur – 342006, Rajasthan, India |
|
Date of Birth/Age : |
13.01.1948 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
27.02.1988 |
|
DIN No.: |
00061278 |
|
Other Directorship
: |
|
|
|
|
|
Name : |
Mr. Govind Shankar Pandya |
|
Designation : |
Director |
|
Address : |
A-5, Garibdas CHSL, N.S. Road No. 5, J.V.P.D. Scheme, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
19.03.1930 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
09.04.2008 |
|
DIN No.: |
00316822 |
|
PAN No.: |
AADPP9794R |
|
Other Directorship
: |
|
|
|
|
|
Name : |
Mr. Praveen Shankar Pratap Shankar Pandya |
|
Designation : |
Director |
|
Address : |
132/133, 13th Floor, D Building, Petit Hall 66, Nepean Sea Road, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
04.10.1950 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
06.05.1985 |
|
DIN No.: |
00316843 |
|
Other Directorship
: |
|
|
|
|
|
Name : |
Mr. Anandshankar Revashankar Pandya |
|
Designation : |
Director |
|
Address : |
A-273-283, Kalpataru Horizon Tower, 28th Floor, S K Ahire Marg, Near Doordarshan, Worli, Mumbai – 400018, Maharashtra, India |
|
Date of Birth/Age : |
11.04.1923 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
21.06.1986 |
|
DIN No.: |
01163634 |
|
PAN No.: |
AAFPP4024N |
|
Other Directorship
: |
|
|
|
|
|
Name : |
Mr. Akshayshankar Pratapshankar Pandya |
|
Designation : |
Director |
|
Address : |
112-A, Paradise Apartments, 44, Nepean Sea Road, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
02.06.1965 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
21.09.2010 |
|
DIN No.: |
01557239 |
|
|
|
|
Name : |
Mr. Rajeevshankar Anandshankar Pandya |
|
Designation : |
Additional Director |
|
Address : |
A-273-283, Kalpataru Horizon Tower, 28th Floor, S K Ahire Marg, Near Doordarshan, Worli, Mumbai – 400018, Maharashtra, India |
|
Date of Birth/Age : |
02.11.1951 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
23.11.2013 |
|
DIN No.: |
01131603 |
|
Other Directorship
: |
|
KEY EXECUTIVES
|
Name : |
Mr. Santosh |
|
Designation : |
Accounts Executive |
|
|
|
|
Name : |
Mr. Avnish |
|
Designation : |
General Manager (Accounts) |
|
|
|
|
Name : |
Mr. Pranab Lalit Mitra |
|
Designation : |
Secretary |
|
Address : |
302, Usha Sadan CHSL, Next To Bhavani Nagar, Andheri (East), Marol, Maroshi Road, Mumbai – 400059, Maharashtra, India |
|
Date of Birth/Age : |
24.05.1960 |
|
Date of Appointment : |
01.01.1986 |
|
PAN No.: |
AAFPM3756L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Praveen Shankar Pandya |
35547 |
|
Rajeev Shankar Pandya |
134500 |
|
Anand Shankar Pandya |
10000 |
|
Umaid Investment Company (Private) Limited, India |
690000 |
|
Govind Shankar Pandya |
147375 |
|
Vikram Shankar Pandya |
290905 |
|
Alka Rajeev Pandya |
31625 |
|
Namita Praveen Pandya |
29274 |
|
Urvashi B. Bhatt |
2185 |
|
Akshay Shankar Pandya |
34500 |
|
Ankur Jyoti Shankar Pandya |
120000 |
|
Saroj Pandya |
62360 |
|
Rati Pandya |
1572 |
|
Aparna Kulkarni |
5750 |
|
Manoj Selot |
5750 |
|
Sangeeta Pandya |
46000 |
|
Shivani Pandya |
34500 |
|
Shuchi Pandya |
34500 |
|
Avinash Pandya |
70437 |
|
Siddarth Pandya |
70437 |
|
Vivek Pandya |
65500 |
|
Shankar Securities (Private) Limited, India |
150000 |
|
Bulk Bags India Limited, India |
391100 |
|
Dolphin Investments Limited, India |
150600 |
|
Jyotishankar A. Pandya |
43125 |
|
Revashankar Gems Limited, India |
11250 |
|
Shankar Jewels Limited, India |
11250 |
|
Shankar Realty Private Limited, India |
22590 |
|
R.D. Pandya (HUF) |
650 |
|
Master Dhruv Akshay Pandya |
35938 |
|
Master Kashyap Akshay Pandya |
24438 |
|
Komal Goel |
41295 |
|
Total |
2804953 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
13.00 |
|
Bodies corporate |
21.00 |
|
Directors or relatives of Directors |
66.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing
of FIBC Bags. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
-- |
PRODUCTION STATUS :
NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
|||||||||||||||||||||||||||
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|
Bankers : |
·
Citibank N.A., Pelican, 2nd Floor,
Opposite Race Course Towers, Gotri Road, Vadodara – 390 007, Gujarat, India State Bank of India, Mid Corporate Group Industrial
Finance Branch, Marble Arch, Race Course Circle, Vadodara – 390 007, Gujarat,
India The Hongkong and Shanghai Banking Corporation Limited,
52/60 Mahatma Gandhi Road, Fort, Mumbai – 400 001, Maharashtra, India |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
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Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rajendra and Company Chartered Accountants |
|
Address : |
1311, Dalamal Tower, 211, Nariman Point, Mumbai – 400021, Maharashtra,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFR1878D |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Joint venture : |
Lift Pack DOO |
|
|
|
|
Subsidiaries Company: |
· LC Shankar Pty Limited Shankarpack Poland Sp Zoo Lift Pack Doo, Serbia Shankar Europe BVBA, Belgium |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
· Umaid Investment Company Private Limited, India CIN No.: U65993DL1981PTC012505 Bulk Bags India Limited CIN No.: U70100MH1996PTC097400 |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,804,953 |
Equity Shares |
Rs.10/- each |
Rs. 28.050 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 |
28.050 |
28.050 |
28.050 |
|
(b) Reserves & Surplus |
840.810 |
699.693 |
572.433 |
|
(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) |
868.860 |
727.743 |
600.483 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
439.957 |
205.224 |
168.067 |
|
(b) Deferred tax liabilities (Net) |
69.646 |
64.387 |
52.052 |
|
(c) Other long term liabilities |
9.273 |
5.919 |
58.272 |
|
(d) long-term provisions |
14.183 |
12.009 |
9.999 |
|
Total Non-current Liabilities (3) |
533.059 |
287.539 |
288.390 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
532.323 |
461.139 |
397.307 |
|
(b) Trade payables |
95.090 |
114.798 |
89.692 |
|
(c) Other current
liabilities |
195.334 |
131.041 |
117.283 |
|
(d) Short-term provisions |
95.123 |
73.344 |
45.584 |
|
Total Current Liabilities (4) |
917.870 |
780.322 |
649.866 |
|
|
|
|
|
|
TOTAL |
2319.789 |
1795.604 |
1538.739 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
878.042 |
836.884 |
822.116 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
73.985 |
11.663 |
0.014 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
18.015 |
18.015 |
4.250 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
31.882 |
66.495 |
28.255 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1001.924 |
933.057 |
854.635 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
84.252 |
24.838 |
20.837 |
|
(b) Inventories |
308.488 |
257.816 |
230.384 |
|
(c) Trade receivables |
344.001 |
294.587 |
176.189 |
|
(d) Cash and cash
equivalents |
368.244 |
95.551 |
52.471 |
|
(e) Short-term loans and
advances |
167.002 |
138.416 |
172.462 |
|
(f) Other current assets |
45.878 |
51.339 |
31.761 |
|
Total Current Assets |
1317.865 |
862.547 |
684.104 |
|
|
|
|
|
|
TOTAL |
2319.789 |
1795.604 |
1538.739 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2512.601 |
2394.580 |
2044.261 |
|
|
|
Other Income |
8.992 |
9.874 |
6.460 |
|
|
|
TOTAL (A) |
2521.593 |
2404.454 |
2050.721 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1368.059 |
1260.311 |
1115.188 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(80.034) |
18.843 |
(33.271) |
|
|
|
Employees benefits expense |
204.970 |
158.561 |
112.310 |
|
|
|
Other expenses |
675.583 |
639.054 |
582.615 |
|
|
|
TOTAL (B) |
2168.578 |
2076.769 |
1776.842 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
353.015 |
327.685 |
273.879 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
43.173 |
49.905 |
43.132 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
309.842 |
277.780 |
230.747 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
72.311 |
68.325 |
51.976 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
237.531 |
209.455 |
178.771 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
88.209 |
74.045 |
54.426 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
149.322 |
135.410 |
124.345 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
2234.923 |
2091.550 |
1769.965 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
236.956 |
121.519 |
NA |
|
|
|
Components and Spare Parts |
25.353 |
10.485 |
NA |
|
|
|
Capital Goods |
11.953 |
12.122 |
NA |
|
|
TOTAL IMPORTS |
274.262 |
144.126 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
53.24 |
48.28 |
39.25 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
5.94 |
5.65 |
6.08 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
14.05 |
13.68 |
13.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.66 |
11.86 |
11.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.29 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.12 |
0.92 |
0.94 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.44 |
1.11 |
1.05 |
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 |
28.050 |
28.050 |
28.050 |
|
Reserves & Surplus |
572.433 |
699.693 |
840.810 |
|
Net
worth |
600.483 |
727.743 |
868.860 |
|
|
|
|
|
|
long-term borrowings |
168.067 |
205.224 |
439.957 |
|
Short term borrowings |
397.307 |
461.139 |
532.323 |
|
Total
borrowings |
565.374 |
666.363 |
972.280 |
|
Debt/Equity
ratio |
0.942 |
0.916 |
1.119 |
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 |
2044.261 |
2394.580 |
2512.601 |
|
|
|
17.137 |
4.929 |
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 |
2044.261 |
2394.580 |
2512.601 |
|
Profit |
124.345 |
135.410 |
149.322 |
|
|
6.08% |
5.65% |
5.94% |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10478991 |
31/12/2013 |
50,000,000.00 |
CITIBANK N. A. |
PELICAN, 2ND FLOOR, OPP RACE COURSE TOWERS, GOTRI ROAD, VADODARA, BARODA, GUJARAT - 390007, INDIA |
B96955760 |
|
2 |
10478992 |
31/12/2013 |
300,000,000.00 |
CITIBANK N. A. |
PELICAN, 2ND FLOOR, OPP RACE COURSE TOWERS, GOTRI ROAD, VADODARA, BARODA, GUJARAT - 390007, INDIA |
B96956149 |
|
3 |
10062886 |
09/01/2014 * |
1,473,000,000.00 |
STATE BANK OF INDIA |
MID CORPORATE GROUP
INDUSTRIAL FINANCE BRANCH, MARBLE ARCH, RACE COURSE CIRCLE, VADODARA, GUJARAT
|
B94021383 |
|
4 |
90210878 |
08/08/1996 * |
50,013,000.00 |
STATE BANK OF INDIA |
COMERCIAL BRANCH,
JUSTICE GN VAIDAY MARG, MUMBAI, |
- |
|
5 |
90215987 |
15/12/1995 |
50,013,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
6 |
90212351 |
18/03/1993 |
4,348,000.00 |
STATE BANK OF INDIA |
COMERCIAL BRANCH,
JUSTICE GN VAIDAY MARG, MUMBAI, |
- |
|
7 |
90212300 |
30/11/2006 * |
300,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FIANANCE BRANCH, 'THE ARCADE', 2ND FLOOR, WORLD TRADE CENTRE,CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
- |
|
8 |
90236969 |
31/10/2005 * |
33,263,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH, CUFFE PARADE, MUMBAI, |
- |
|
9 |
90212136 |
24/12/1990 |
13,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, JUSTICE G.N. VAIDYA MARG, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
10 |
90211883 |
13/02/1989 |
12,000,000.00 |
STATE BANK OF INDIA |
COMERCIAL BRANCH,
JUSTICE GN VAIDAY MARG, MUMBAI, |
- |
|
11 |
90211685 |
08/09/1987 |
8,900,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, JUSTICE G.N. VAIDYA MARG, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
12 |
90211540 |
13/02/1989 * |
4,000,000.00 |
STATE BANK OF INDIA |
COMERCIAL BRANCH,
JUSTICE GN VAIDAY MARG, MUMBAI, |
- |
|
13 |
90214287 |
29/08/1986 |
4,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, JUSTICE G.N. VAIDYA MARG, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
14 |
90214266 |
29/03/1986 |
5,000,000.00 |
STATE BANK OF INDIA |
COMERCIAL BRANCH,
JUSTICE GN VAIDAY MARG, MUMBAI, |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Deposits from shareholders (Repayable after a period of 5 years) |
5.252 |
6.229 |
|
Intercorporate deposits (Repayable after a period of 5 years) |
6.509 |
4.253 |
|
Total |
11.761 |
10.482 |
CHANGE OF ADDRESS
The Registered address of the company has been shifted from
A-4, Purshottam Buildings, Opera House, Mumbai, Maharashtra, India to present
address w.e.f. 13.04.2008
OPERATING RESULTS AND BUSINESS
The gross turnover of the company for the year increased to Rs. 2531.500 Millions which is a quantum jump of nearly 5% over the previous year. In tune with increased sales, the profit after tax of the company has gone up from Rs.135.400 Millions to Rs.149.300 Millions. The total capacity of the company as on date is 15470 MT per annum. The actual capacity utilization have been 14426 MT which reflects the capacity utilization of up to 93.25%. The business environment of the company continues to remain favorable barring developments in the global environment.
FIXED ASSETS
Tangible Assets
· Land
Buildings
Plant
and Equipment
Vehicles
Motor
Vehicles
Office
Equipment
Other
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.61.74 |
|
|
1 |
Rs.94.65 |
|
Euro |
1 |
Rs.70.79 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
50 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.