MIRA INFORM REPORT
|
Report No. : |
308183 |
|
Report Date : |
17.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
TECHNOVINYL POLYMERS INDIA LIMITED |
|
|
|
|
Registered
Office : |
Filix 901-C1, 9th Floor, Opposite Asian Paints, L.B.S. Road, Bhandup (West), Mumbai – 400078, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
19.06.1992 |
|
|
|
|
Com. Reg. No.: |
11-067303 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 6.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH1992PLC067303 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Hi Performance P.V.C. Compounds and Speciality
Polymers. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating reflects company healthy risk profile marked by comfortable
capital structure and sound 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: “BBB” |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
05.06.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A3” |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
05.06.2014 |
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
MANAGEMENT NON COOPERATIVE (Tel. No.: 91-22-61721888)
LOCATIONS
|
Registered/ Administrative Office : |
Filix 901-C1, 9th Floor, Opposite Asian Paints,
L.B.S. Road, Bhandup (West), Mumbai – 400078, Maharashtra, India |
||||
|
Tel. No.: |
91-22-61721888 (100 Lines) |
||||
|
Fax No.: |
91-22-61721800 |
||||
|
E-Mail : |
|||||
|
Website : |
|||||
|
|
|
||||
|
Factory 1: |
Plot No. 83, Government Industrial Estate, Village Masat,
Silvassa – 396230, Dadra and Nagar Haveli, India |
||||
|
|
|
||||
|
Factory 2: |
Plot No. 59/10/01, Khanvel Silvassa Road, Village Masat, Silvassa – 396230, (UT), Dadra and Nagar Haveli, India |
||||
|
|
|
||||
|
Factory 3: |
14, Amli Industrial Estate, Amli, Silvassa – 396230, (UT), Dadra and Nagar Haveli, India |
||||
|
|
|
||||
|
Factory 4: |
Extruded Profiles Manufacturing Unit Plot No. D-106, MIDC Ranjangaon, Pune Nagar Road, District Pune – 412209, Maharashtra, India |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Kirit Gokaldas Chandan |
|
Designation : |
Managing Director |
|
Address : |
603/604, Mount View Co-operative HSG Society, Off Devidayal Road,
Mulund (West), Mumbai – 400080, Maharashtra, India |
|
Date of Birth/Age : |
13.01.1960 |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
00536173 |
|
|
|
|
Name : |
Ms. Priti Gokaldas Chandan |
|
Designation : |
Director |
|
Address : |
603/604, Mount View Co-operative HSG Society, Off Devidayal Road,
Mulund (West), Mumbai – 400080, Maharashtra, India |
|
Date of Birth/Age : |
06.01.1964 |
|
Date of Appointment : |
19.06.1992 |
|
DIN No.: |
00535703 |
|
|
|
|
Name : |
Mrs. Deviben Gokaldas Chandan |
|
Designation : |
Director |
|
Address : |
603/604, Mount View Co-operative HSG Society, Off Devidayal Road,
Mulund (West), Mumbai – 400080, Maharashtra, India |
|
Date of Birth/Age : |
20.06.1937 |
|
Date of Appointment : |
19.06.1992 |
|
DIN No.: |
00535893 |
|
|
|
|
Name : |
Mrs. Tejal Kirit Chandan |
|
Designation : |
Director |
|
Address : |
603/604, Mount View Co-operative HSG Society, Off Devidayal Road, Mulund
(West), Mumbai – 400080, Maharashtra, India
|
|
Date of Birth/Age : |
05.10.1967 |
|
Date of Appointment : |
19.06.1992 |
|
DIN No.: |
00536290 |
|
|
|
|
Name : |
Mr. Karan K. Chandan |
|
Designation : |
Additional Director |
|
Address : |
603, Mount View, Off Devidayal Road, Mulund (West), Mumbai – 400080,
Maharashtra, India |
|
Date of Birth/Age : |
21.08.1987 |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
03352789 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Kirit Gokaldas Chandan |
235010 |
|
Deviben Gokaldas Chandan |
154520 |
|
Tejal Kirit Chandan |
61940 |
|
Priti Gokaldas Chandan |
145010 |
|
Deepak P. Thakkar |
10 |
|
Lata D. Palan |
10 |
|
K.G. Chandan (HUF) |
3500 |
|
Total |
600000 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Hi Performance P.V.C. Compounds and Speciality
Polymers. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
-- |
|
|
|
|
Imports : |
-- |
|
|
|
|
Terms : |
-- |
PRODUCTION STATUS:
NOT DIVULGED
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
Information declined by management |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
Dena Bank, 11, Surya Prakash, M.G. Road, Mulund (West),
Mumbai - 400080, Maharashtra, India. |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
NOTE LONG TERM
BORROWINGS Vehicle loans are secured by hypothecation of vehicles, Repayable in monthly EMI ending between April 2013 to October 2015. Rate of Interest 10.25% and 10.50% SHORT TERM
BORROWINGS Cash Credit
Facility Secured by hypothecation of Stocks and Book Debts and also further secured by personal guarantee of three directors. Rate of Interest 13.25% |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dayal and Lohia Chartered Accountants |
|
Address : |
Kamanwala Chambers, 1st Floor, Office Nos. 6 and 7, Sir P.M. Road, Fort, Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-66372969/ 70 |
|
Fax No.: |
91-22-66372949 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFD1548C |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates : |
· Techno Ferrites · Holm KK Extrusions Private Limited · K K Plastics |
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 |
|
|
|
|
|
|
600,000 |
Equity Shares |
Rs.10/- each |
Rs. 6.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
6.000 |
6.000 |
4.000 |
|
(b) Reserves & Surplus |
184.327 |
139.966 |
109.914 |
|
(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) |
190.327 |
145.966 |
113.914 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
49.401 |
82.384 |
81.297 |
|
(b) Deferred tax liabilities (Net) |
11.916 |
11.479 |
11.304 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
2.787 |
2.114 |
1.659 |
|
Total Non-current
Liabilities (3) |
64.104 |
95.977 |
94.260 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
113.367 |
95.932 |
87.068 |
|
(b) Trade
payables |
33.558 |
40.877 |
40.572 |
|
(c) Other
current liabilities |
8.522 |
9.678 |
6.299 |
|
(d) Short-term
provisions |
8.565 |
5.148 |
8.280 |
|
Total Current
Liabilities (4) |
164.012 |
151.635 |
142.219 |
|
|
|
|
|
|
TOTAL |
418.443 |
393.578 |
350.393 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
100.563 |
102.585 |
97.801 |
|
(ii)
Intangible Assets |
0.028 |
0.084 |
0.140 |
|
(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 |
1.848 |
1.848 |
1.848 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.592 |
0.476 |
0.817 |
|
(e) Other
Non-current assets |
3.591 |
3.485 |
1.881 |
|
Total Non-Current
Assets |
107.622 |
108.478 |
102.487 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
161.442 |
147.555 |
145.602 |
|
(c) Trade
receivables |
127.117 |
113.024 |
83.376 |
|
(d) Cash
and cash equivalents |
3.690 |
4.610 |
2.588 |
|
(e) Short-term
loans and advances |
13.935 |
15.342 |
16.340 |
|
(f) Other
current assets |
4.637 |
4.569 |
0.000 |
|
Total
Current Assets |
310.821 |
285.100 |
247.906 |
|
|
|
|
|
|
TOTAL |
418.443 |
393.578 |
350.393 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
567.521 |
525.462 |
422.037 |
|
|
|
Other Income |
0.890 |
0.591 |
0.693 |
|
|
|
TOTAL (A) |
568.411 |
526.053 |
422.730 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
412.525 |
409.415 |
307.835 |
|
|
|
Changes in Inventories of Finished Goods |
(1.156) |
(11.635) |
(0.291) |
|
|
|
Excise Duty Difference on Stock of Finished Goods (Net) |
0.127 |
1.280 |
1.578 |
|
|
|
Employee Benefit Expense |
25.255 |
23.190 |
19.860 |
|
|
|
Other Expenses |
34.842 |
29.790 |
26.199 |
|
|
|
Excess Depreciation for Earlier Years Reversed |
(0.147) |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
471.446 |
452.040 |
355.181 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
96.965 |
74.013 |
67.549 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
21.748 |
21.257 |
19.457 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
75.217 |
52.756 |
48.092 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.963 |
6.585 |
6.310 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
68.254 |
46.171 |
41.782 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
22.840 |
15.065 |
14.241 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
45.414 |
31.106 |
27.541 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
134.102 |
107.159 |
83.070 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
4.635 |
3.110 |
2.754 |
|
|
|
Dividend on Equity Shares |
0.900 |
0.900 |
0.600 |
|
|
|
Tax on Dividend |
0.153 |
0.153 |
0.098 |
|
|
BALANCE CARRIED
TO THE B/S |
173.828 |
134.102 |
107.159 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sales |
9.227 |
12.168 |
9.324 |
|
|
TOTAL EARNINGS |
9.227 |
12.168 |
9.324 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
202.328 |
181.332 |
165.181 |
|
|
TOTAL IMPORTS |
202.328 |
181.332 |
165.181 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
Basic |
75.69 |
51.84 |
68.85 |
|
|
|
Diluted |
75.69 |
76.18 |
68.85 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
8.00 |
5.92 |
6.53 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
17.09 |
14.09 |
16.01 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.38 |
11.79 |
11.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36 |
0.32 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.86 |
1.22 |
1.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.90 |
1.88 |
1.74 |
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 |
4.000 |
6.000 |
6.000 |
|
Reserves & Surplus |
109.914 |
139.966 |
184.327 |
|
Net
worth |
113.914 |
145.966 |
190.327 |
|
|
|
|
|
|
long-term borrowings |
81.297 |
82.384 |
49.401 |
|
Short term borrowings |
87.068 |
95.932 |
113.367 |
|
Total
borrowings |
168.365 |
178.316 |
162.768 |
|
Debt/Equity
ratio |
1.478 |
1.222 |
0.855 |
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 |
422.037 |
525.462 |
567.521 |
|
|
|
24.506 |
8.004 |
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 |
422.037 |
525.462 |
567.521 |
|
Profit |
27.541 |
31.106 |
45.414 |
|
|
6.53% |
5.92% |
8.00% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
|
|
|
|
|
Current Maturities of Long Term Borrowings |
1.667 |
2.608 |
1.062 |
|
|
|
|
|
|
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 |
No |
|
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 |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10247760 |
16/09/2014 * |
1,500,000.00 |
DENA BANK |
11, SURYA PRAKASH, M.G.ROAD, MULUND (WEST), MUMBAI, MAHARASHTRA - 400080, INDIA |
C35211861 |
|
2 |
10249447 |
15/09/2014 * |
1,500,000.00 |
DENA BANK |
11, SURYA PRAKASH, M.G.ROAD, MULUND (WEST), MUMBAI, MAHARASHTRA - 400080, INDIA |
C35208420 |
|
3 |
90164536 |
29/04/2008 * |
150,000.00 |
DENA BANK |
MULUND WEST BRANCH, 11, SURYA PRAKASH, M.G. ROAD, MULUND WEST, MUMBAI, MAHARASHTRA - 400080, INDIA |
A40787574 |
|
4 |
80045355 |
11/04/2011 * |
15,000,000.00 |
DENA BANK |
11, SURYA PRAKASH, M.G.ROAD, MULUND (WEST), MUMBAI, MAHARASHTRA - 400080, INDIA |
B40485070 |
|
5 |
90164137 |
02/05/2001 * |
1,463,000.00 |
DENA BANK |
MULUNAD WESTBRANCH, BOMBAY, MAHARASHTRA - 400080, INDIA |
- |
|
6 |
90163366 |
11/05/1996 |
600,000.00 |
DENA BANK |
MULUNAD WESTBRANCH, BOMBAY, MAHARASHTRA - 400080, INDIA |
- |
|
7 |
90163343 |
22/03/1996 * |
4,000,000.00 |
DENA BANK |
MULUNAD WESTBRANCH, BOMBAY, MAHARASHTRA - 400080, INDIA |
- |
|
8 |
90162975 |
16/09/2014 * |
26,750,000.00 |
DENA BANK |
11, SURYA PRAKASH, M.G.ROAD, MULUND (WEST), MUMBAI, MAHARASHTRA - 400080, INDIA |
C35209444 |
|
9 |
90162906 |
15/09/2014 * |
140,000,000.00 |
DENA BANK |
11, SURYA PRAKASH, M.G.ROAD, MULUND (WEST), MUMBAI, MAHARASHTRA - 400080, INDIA |
C35207679 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
From Related Party |
48.844 |
80.129 |
|
Other Loans |
0.000 |
0.348 |
|
Total |
48.844 |
80.477 |
OPERATIONS
During the year Gross Income have increase from Rs. 526.053 Millions to Rs. 568.411 Millions and Company has made net profit after tax Rs. 45.415 Millions. Sales has been increase by 8.05%.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
|
|
|
|
Bank Guarantee to the Electric Department |
1.750 |
1.750 |
FIXED ASSETS
TANGIBLE ASSETS
· Land
· Factory Building
· Plant and Machinery
· Computer
· Furniture and Fixture
· Air handling Unit A/c
· Office Equipment
· Vehicles
· Office Electric Fittings
· CC Camera
INTANGIBLE ASSETS
· Technical Know-How
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.62.20 |
|
|
1 |
Rs.96.00 |
|
Euro |
1 |
Rs.71.00 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
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 |
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 |
|
47 |
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.