MIRA INFORM REPORT
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Report No. : |
306102 |
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Report Date : |
11.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHRI BALAJI ROLLINGS PRIVATE LIMITED |
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Registered
Office : |
M 14/15 Cuncolim Industrial Estate, Cuncolim Salcette, Goa - 403703 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
17.06.1994 |
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Com. Reg. No.: |
24-001610 |
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Capital
Investment / Paid-up Capital : |
Rs.47.000 Millions |
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CIN No.: [Company Identification
No.] |
U27108GA1994PTC001610 |
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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 M S Ingots. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 2000000 |
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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 an established company having moderate track record. The rating reflects company moderate financial risk profile marked by
sharp decline in the turnover and profit of the company during FY 2014 and
low reserves level of the company. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company can be considered for business dealings with some caution. |
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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
Not Available
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 : |
M 14/15 Cuncolim Industrial Estate, Cuncolim Salcette, Goa – 403703,
India |
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Tel. No.: |
91-832-6483275/ 2764494/ 2866513 |
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Fax No.: |
91-832-2866513 |
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E-Mail : |
DIRECTORS
As on 26.09.2014
|
Name : |
Mr. Sumit Kumar Singla |
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Designation : |
Director |
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Address : |
H No:A 3131, Opposite Golden Chariot Restaurant, Gogol, Margao –
403601, Goa, India |
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Date of Appointment : |
14.12.2004 |
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DIN No.: |
01363005 |
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Other
Directorship :
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Name : |
Mr. Vijay Kumar Goyal |
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Designation : |
Director |
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Address : |
A/3131/A, 404, Carvallo Appartments, Margao – 403601, Goa, India |
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Date of Appointment : |
27.09.2013 |
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DIN No.: |
02230161 |
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Other
Directorship :
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MAJOR SHAREHOLDERS
As on 26.09.2014
|
Names of Shareholders |
No. of Shares |
|
Devendra Kumar Singla |
2500 |
|
Shamal Singla (HUF) |
24000 |
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Kailash Rajendra Prasad Singla |
2474510 |
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Sumit Rajendra Prasad Singla |
1055590 |
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Amit Rajendra Prasad Singla |
943380 |
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Upasana Sumit Singla |
200000 |
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Nitin Goyal |
10 |
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Ravindra Kumar |
10 |
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Total |
4700000 |
As on 26.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of M S Ingots. |
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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 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 : |
Not Available |
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Customers : |
Not Available |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Shrinivas Nayak and Company Chartered Accountants |
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Address : |
201-B, Mathias Plaza, 18th June Road, Panaji – 403001, Goa,
India |
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Tel. No.: |
91-832-2420139 |
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PAN No.: |
ABNPN1739Q |
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E-Mail : |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Group Company : |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
5000000 |
Equity Shares |
Rs.10/-each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4700000 |
Equity Shares |
Rs.10/-each |
Rs.47.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
47.000 |
47.000 |
47.000 |
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(b) Reserves &
Surplus |
32.864 |
32.435 |
29.754 |
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(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
79.864 |
79.435 |
76.754 |
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(3) Non-Current
Liabilities |
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(a) long-term borrowings |
54.253 |
44.384 |
63.383 |
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(b) Deferred tax
liabilities (Net) |
2.308 |
4.344 |
3.655 |
|
(c) Other long term
liabilities |
2.763 |
2.763 |
2.763 |
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(d) long-term provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
59.324 |
51.491 |
69.801 |
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(4) Current Liabilities |
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(a) Short term borrowings |
124.078 |
387.100 |
345.788 |
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(b) Trade payables |
88.905 |
192.188 |
31.555 |
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(c) Other current
liabilities |
43.653 |
3.500 |
2.492 |
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(d) Short-term provisions |
24.684 |
18.162 |
15.683 |
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Total Current Liabilities
(4) |
281.320 |
600.950 |
395.518 |
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TOTAL |
420.508 |
731.876 |
542.073 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
90.554 |
97.856 |
103.368 |
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(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.285 |
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(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 |
15.388 |
15.388 |
15.388 |
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(e) Other Non-current
assets |
0.089 |
2.092 |
2.228 |
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Total Non-Current Assets |
106.031 |
115.336 |
121.269 |
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(2) Current assets |
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(a) Current investments |
0.000 |
0.000 |
0.000 |
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(b) Inventories |
101.220 |
171.123 |
93.990 |
|
(c) Trade receivables |
42.398 |
37.510 |
14.035 |
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(d) Cash and cash
equivalents |
7.955 |
324.254 |
219.857 |
|
(e) Short-term loans and
advances |
105.605 |
10.570 |
65.278 |
|
(f) Other current assets |
57.299 |
73.083 |
27.644 |
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Total Current Assets |
314.477 |
616.540 |
420.804 |
|
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|
|
|
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TOTAL |
420.508 |
731.876 |
542.073 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
783.903 |
1100.342 |
903.634 |
|
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Other Income |
NA |
NA |
NA |
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TOTAL |
NA |
NA |
NA |
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EXPENSES |
NA |
NA |
NA |
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PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
68.174 |
31.846 |
59.409 |
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|
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|
|
Less |
FINANCIAL EXPENSES |
60.233 |
20.576 |
47.628 |
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PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
7.941 |
11.270 |
11.781 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
7.027 |
6.938 |
6.959 |
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|
PROFIT/ (LOSS) BEFORE TAX |
0.914 |
4.332 |
4.822 |
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Less |
TAX |
0.485 |
1.650 |
1.561 |
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|
PROFIT/ (LOSS) AFTER TAX
|
0.429 |
2.682 |
3.261 |
|
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IMPORTS |
|
|
|
|
|
Raw Materials |
124.764 |
626.198 |
0.000 |
|
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TOTAL IMPORTS |
124.764 |
626.198 |
0.000 |
|
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|
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|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
0.09 |
0.57 |
0.69 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
0.05
|
0.24 |
0.36 |
|
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|
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|
Operating Profit Margin (PBDIT/Sales) |
(%) |
8.69
|
2.89 |
6.57 |
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.22 |
0.59 |
0.89 |
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|
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|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.05 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debts/Networth) |
|
2.23 |
5.43 |
5.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12 |
1.03 |
1.06 |
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 |
47.000 |
47.000 |
47.000 |
|
Reserves & Surplus |
29.754 |
32.435 |
32.864 |
|
Net worth |
76.754 |
79.435 |
79.864 |
|
|
|
|
|
|
long-term borrowings |
63.383 |
44.384 |
54.253 |
|
Short term borrowings |
345.788 |
387.100 |
124.078 |
|
Total borrowings |
409.171 |
431.484 |
178.331 |
|
Debt/Equity ratio |
5.331 |
5.432 |
2.233 |
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 |
903.634 |
1100.342 |
783.903 |
|
|
|
21.769 |
(28.758) |
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 |
903.634 |
1100.342 |
783.903 |
|
Profit |
3.261 |
2.682 |
0.429 |
|
|
0.36% |
0.24% |
0.05% |
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 |
Yes |
|
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 |
No |
|
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 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10184852 |
07/11/2009 |
47,500,000.00 |
PUNJAB NATIONAL BANK |
CALISTO MANSION, PANAJI, Goa - 403001, INDIA |
A73209512 |
|
2 |
80011339 |
16/04/2014 * |
345,000,000.00 |
PUNJAB NATIONAL BANK |
CALISTO MANSION, PANAJI, Goa - 403001, INDIA |
C04908406 |
|
3 |
10020163 |
27/06/2006 |
139,000,000.00 |
PUNJAB NATIONAL BANK |
CALISTO MANSION, DR.PISSURLEKAR ROAD, PANAJI, Goa - 403001, INDIA |
A02933695 |
|
4 |
90077443 |
16/09/2005 * |
7,000,000.00 |
ORIENTAL BANK OF COMMERCE |
PANAJI BRANCH, PANAJI, Goa, INDIA |
- |
|
5 |
90075735 |
29/07/1998 |
20,000,000.00 |
ORIENTAL BANK OF COMMERCE |
PANAJI BRANCH; 18 H JUNE ROAD, PANAJI, Goa, INDIA |
- |
|
6 |
90076737 |
26/11/1997 |
20,000,000.00 |
ORIENTAL BANK OF COMMERCE |
PANAJI BRANCH, PANAJI, Goa, INDIA |
- |
|
7 |
90077237 |
18/10/1997 |
2,000,000.00 |
ORIENTAL BANK OF COMMERCE |
PANAJI BRANCH, PANAJI, Goa, INDIA |
- |
|
8 |
90076730 |
31/03/1997 |
1,500,000.00 |
ORIENTAL BANK OF COMMERCE |
PANAJI BRANCH, PANAJI, Goa, INDIA |
- |
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans from related parties |
54.253 |
37.252 |
|
Total |
54.253 |
37.252 |
FIXED ASSETS
- Land and Land
Development
- Factory
Building
- Plant and
Machinery
- Electrical
Installations
- Anxiliary
Equipments
- Lab
Equipments
- Computer
- Office
Equipments
- Furniture and
Fixture
- Vehicle
·
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.61.96 |
|
|
1 |
Rs.94.41 |
|
Euro |
1 |
Rs.70.20 |
INFORMATION DETAILS
|
Analysis
Done by : |
DIV |
|
|
|
|
Report
Prepared by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP
CAPITAL |
1~10 |
3 |
|
OPERATING
SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.