MIRA INFORM REPORT
|
Report No. : |
309131 |
|
Report Date : |
23.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
NICOMET INDUSTRIES LIMITED (w.e.f 19.09.1996) |
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|
|
|
Formerly Known
As: |
NICOMET INDUSTRIES PRIVATE LIMITED
(w.e.f. 28.06.1995) METEC INTERNATIONAL PRIVATE LIMITED |
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Registered
Office : |
155, Maker Chamber III, Nariman Point, Mumbai – 400021, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
02.04.1993 |
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|
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Com. Reg. No.: |
11-071450 |
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|
Capital
Investment / Paid-up Capital : |
Rs.110.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27200MH1993PLC071450 |
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|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM09552E |
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|
|
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PAN No.: [Permanent Account No.] |
AAACN1597Q |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Cobalt, Copper Nickel and their Derivatives. |
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|
|
|
No. of Employees
: |
Information denied by management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limits : |
USD 695000 |
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|
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The management has failed to file its financial record with government
department for the year 2014. As per available financial record of 2013, the rating is constrained
on account of company’s moderate financial risk profile marked by stretched
liquidity position and loss that company has incurred from its operational
activities. However, trade relations are fair. Business is active. Payments 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 |
|
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 = D (Suspended) |
|
Rating Explanation |
Instrument with this rating are in default or
expected to be in default on maturity |
|
Date |
12.09.2014 |
RBI DEFAULTER’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTER’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Naval |
|
Designation : |
HR – Manager |
|
Contact No.: |
91-22-28203347 |
|
Date : |
23.02.2015 |
LOCATIONS
|
Registered/ Head Office : |
155, Maker Chamber III, Nariman Point, Mumbai – 400021, Maharashtra,
India |
|
Tel. No.: |
91-22-28203347 /
28203418 / 26938710-14 |
|
Mobile No.: |
91-9820327024 (Mr. Nitul Bhupat
Shah) 91-8322764327 (Mr.
Gaonkar) |
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Fax No.: |
91-22-28351982 |
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E-Mail : |
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|
Website : |
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|
Area : |
2600 Sq. ft |
|
Location : |
Leased |
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|
Factory : |
Plot No. L-15/19/20, Cuncolim Industrial Estate,
Cuncolim–403703, Goa, India |
|
Tel. No.: |
91-832-2763307 / 2764337 / 2866066 |
|
Fax No.: |
91-832-2764327 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Rajendra Prasad Daudayal Agarwal |
|
Designation : |
Managing Director |
|
Address : |
21, Krishna Kunj, 94, Marine Drive, G. Road, Mumbai – 400020, Maharashtra, India |
|
Date of Birth/Age : |
21.05.1951 |
|
Date of Appointment
: |
02.04.1993 |
|
PAN No.: |
AAGPA9763L |
|
DIN No.: |
00605850 |
|
|
|
|
Name : |
Mr. Ankit Rajendra Prasad Agarwal |
|
Designation : |
Director |
|
Address : |
21, Krishna Kunj, 94, Marine Drive, G. Road, Mumbai – 400020, Maharashtra, India |
|
Date of Birth/Age : |
27.08.1984 |
|
Date of Appointment
: |
12.01.2004 |
|
PAN No.: |
AAGPA9764P |
|
DIN No.: |
00605952 |
|
|
|
|
Name : |
Mr. Nitul Bhupat Shah |
|
Designation : |
Whole-time director |
|
Address : |
7101, Kusum Kunj, Junction of 9th and 10th Road, Khar (West), Mumbai-400052, Maharashtra, India |
|
Date of Birth/Age : |
10.01.1983 |
|
Date of Appointment
: |
18.02.2013 |
|
Date of cessation : |
05.08.2014 |
|
PAN No.: |
AAEPS6737Q |
|
DIN No.: |
00289512 |
|
|
|
|
Name : |
Mr. Tushar Ambalal Porwal |
|
Designation : |
Director |
|
Address : |
301, Swastik Sadan, 3rd Floor, 8th Road, Khar (West), Mumbai-400052, Maharashtra, India |
|
Date of Birth/Age : |
07.01.1975 |
|
Date of Appointment
: |
20.09.2012 |
|
Date of cessation : |
05.08.2014 |
|
DIN No.: |
00290353 |
KEY EXECUTIVES
|
Name : |
Mr. Naval |
|
Designation : |
HR – Manager |
|
|
|
|
Name : |
Mr. Gaonkar |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
AGARWAL |
|
|
|
Rajendra Prasad Agarwal |
|
1000000 |
|
Usha Agarwal |
|
1000000 |
|
Atul Agarwal |
|
1000000 |
|
Murlidarji Agarwal |
|
7500 |
|
Ankit Agrawal |
|
1000000 |
|
Bhawana Agrawal |
|
227500 |
|
Daudayal Agrawal HUF |
|
1235000 |
|
Angoori Devi |
|
30000 |
|
|
|
|
|
PORWAL |
|
|
|
Ambalal M Porwal |
|
237660 |
|
Ambalal M Porwal HUF |
|
313840 |
|
Tushar A Porwal |
|
464200 |
|
Vipul A Porwal |
|
464200 |
|
Ruchi V Porwal |
|
485100 |
|
Ritu V Porwal |
|
485100 |
|
Nirmala V Porwal |
|
356695 |
|
Vijay M Porwal |
|
99205 |
|
Vijay M Porwal HUF |
|
245300 |
|
Manjula A Porwal |
|
191400 |
|
Aardhi Porwal |
|
100 |
|
|
|
|
|
SHAH |
|
|
|
Nitul B Shah |
|
941600 |
|
Vilas B Shah |
|
868490 |
|
Bhupat K Shah HUF |
|
327110 |
|
Amar Ferro Metals Private Limited |
|
20000 |
|
Total |
|
11000000 |
AS ON 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cobalt, Copper Nickel and their Derivatives. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
|
Cobalts and its salts |
TPA |
1000 |
|
Nickel and its salts |
TPA |
1000 |
|
Copper |
TPA |
3000 |
|
|
|
|
|
Particulars |
Unit |
Actual
Production |
|
Cobalts and its salts |
MT |
478.17 |
|
Nickel and its salts |
MT |
263.63 |
|
Copper |
MT |
647.50 |
Note:
** Production include captive consumption but
exclude production during trial run
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers, End Users, OEM’s and Others
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No. of Employees : |
Information declined by
management. |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Auditors : |
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|
Name : |
Chaturvedi S. K. and Fellows Chartered Accountants |
|
Address : |
410, Dev Plaza, S V Road, Andheri West, Mumbai - 400 058, Maharashtra, India |
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Fax No.: |
91-22-66943453 |
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E-Mail : |
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PAN No.: |
AAGFC1555L |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates : |
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CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11,000,000 |
Equity Shares |
Rs.10/- each |
Rs.110.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11,000,000 |
Equity Shares |
Rs.10/- each |
Rs.110.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
110.000 |
110.000 |
110.000 |
|
(b) Reserves & Surplus |
133.170 |
396.326 |
390.242 |
|
(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) |
243.170 |
506.326 |
500.242 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
147.879 |
102.412 |
85.044 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
81.250 |
81.284 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
9.277 |
6.781 |
4.771 |
|
Total Non-current
Liabilities (3) |
157.156 |
190.443 |
171.099 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
641.103 |
513.030 |
462.802 |
|
(b) Trade
payables |
1347.323 |
1296.898 |
642.190 |
|
(c) Other
current liabilities |
163.522 |
114.216 |
57.103 |
|
(d) Short-term
provisions |
14.930 |
23.504 |
29.415 |
|
Total Current
Liabilities (4) |
2166.878 |
1947.648 |
1191.510 |
|
|
|
|
|
|
TOTAL |
2567.204 |
2644.417 |
1862.851 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
615.790 |
606.189 |
610.691 |
|
(ii)
Intangible Assets |
0.238 |
0.238 |
0.238 |
|
(iii)
Capital work-in-progress |
5.986 |
6.230 |
18.827 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.001 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
22.302 |
26.082 |
21.363 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
644.317 |
638.739 |
651.119 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1092.684 |
1482.239 |
753.963 |
|
(c) Trade
receivables |
488.242 |
308.584 |
218.546 |
|
(d) Cash
and cash equivalents |
110.851 |
136.457 |
134.674 |
|
(e)
Short-term loans and advances |
231.110 |
78.398 |
104.549 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1922.887 |
2005.678 |
1211.732 |
|
|
|
|
|
|
TOTAL |
2567.204 |
2644.417 |
1862.851 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2162.691 |
2431.947 |
1475.220 |
|
|
|
Other Income |
11.646 |
14.962 |
29.439 |
|
|
|
TOTAL |
2174.337 |
2446.909 |
1504.659 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1884.284 |
1934.446 |
1153.930 |
|
|
|
Purchases of Stock-in-Trade |
201.689 |
265.818 |
5.438 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(157.515) |
(382.838) |
(134.606) |
|
|
|
Employees benefits expense |
65.678 |
58.054 |
50.839 |
|
|
|
Other expenses |
294.230 |
313.535 |
218.557 |
|
|
|
Extraordinary Items |
49.544 |
57.902 |
0.000 |
|
|
|
TOTAL |
2337.910 |
2246.917 |
1294.158 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(163.573) |
199.992 |
210.501 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
147.528 |
145.833 |
92.422 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(311.101) |
54.159 |
118.079 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
46.536 |
46.588 |
40.226 |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
BEFORE TAX |
(357.637) |
7.571 |
77.853 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(94.482) |
1.486 |
50.961 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
AFTER TAX |
(263.155) |
6.085 |
26.892 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
380.887 |
374.802 |
347.910 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
117.732 |
380.887 |
374.802 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
434.503 |
733.742 |
586.490 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(23.92) |
0.55 |
2.44 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin PAT / Sales |
(%) |
(12.17) |
0.25 |
1.82 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Sales) |
(%) |
(7.56) |
8.22 |
14.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(13.96) |
0.29 |
4.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.47) |
0.01 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.24 |
1.22 |
1.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.89 |
1.03 |
1.02 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
110.000 |
110.000 |
110.000 |
|
Reserves & Surplus |
390.242 |
396.326 |
133.170 |
|
Net
worth |
500.242 |
506.326 |
243.170 |
|
|
|
|
|
|
long-term borrowings |
85.044 |
102.412 |
147.879 |
|
Short term borrowings |
462.802 |
513.030 |
641.103 |
|
Total
borrowings |
547.846 |
615.442 |
788.982 |
|
Debt/Equity
ratio |
1.095 |
1.216 |
3.245 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
1475.220 |
2431.947 |
2162.691 |
|
|
|
64.853 |
(11.072) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
1475.220 |
2431.947 |
2162.691 |
|
Profit/Loss |
26.892 |
6.085 |
(263.155) |
|
|
1.82% |
0.25% |
(12.17%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
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 |
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 |
No |
|
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 |
No |
|
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 |
UNSECURED LOANS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Long Term
Borrowing |
|
|
|
Other Loans and Advances, Others |
22.207 |
22.207 |
|
Loans Taken for Fixed Assets |
|
|
|
Loans and advances from directors |
32.365 |
32.365 |
|
Intercorporate Deposits |
92.500 |
42.721 |
|
Short Term Borrowing |
|
|
|
Intercorporate Deposits |
0.221 |
9.439 |
|
Loans and Advances from Others |
0.000 |
17.025 |
|
Total |
147.293 |
123.757 |
OPERATIONS AND
FINANCIAL RESULTS
During the year, Company was forced to close of the operations of its cobalt plant due to uneconomic conditions in the cobalt business. However, Company’s Nickel plant has been stabilized during the year and capacity utilization in the Nickel plant substantially improved from November 2012. Due to stability in Nickel Plant company could stop steep decline in turnover and achieved a turnover of Rs. 2350.000 Millions as against Rs. 2520.000 Millions during last financial year. The overall profitability was low due to continuous declining trend in the commodity prices throughout the year and losses due to closure of Cobalt plant.
FINANCE
Company is passing through a very difficult financial phase due to mounting losses and non availability of fresh funding from its bankers. Despite of achieving success in its Nickel Plant and conversion of the existing cobalt plant to Nickel Sulphate Crystal manufacturing facility to stop the erosion of the future revenue due to closure of the Cobalt business. Battery grade Nickel Sulphate Crystal is a value added item and is having very good demand from cell phone, lap top battery manufacturer and electroplating segment. The Company is 3rd manufacturer of this product in the world. There is likely-hood to see a jump in the demand of Nickel Sulphate Crystal as a result of growing demand of hybrid cars.
However despite of these good developments, company is not able to run the plant on continuous basis due to shortage of raw material on account of paucity of funds.
Due to closure of cobalt business, delayed stabilization of Nickel Plant and uneconomic business conditions, declining trend in the commodity prices throughout the year company’s operations resulted in losses and company faced severe liquidity crunch because of which it could not meet its obligations towards working capital bankers.
To come out of the crises, company submitted a debt restructuring proposal under Corporate Debt Restructuring ‘CDR’ mechanism. Company’s working capital bankers, being convinced on the genuineness of company’s need, agreed to take up the company’s debt restructuring proposal and submitted the reference to CDR Cell on 23rd July 2013. Company is hopeful about positive outcome on this front.
INCREASE IN BORROWING
POWER
To accommodate the increased borrowing requirement due to CDR and additional need based funds requirement, company’s borrowing power is being increased to Rs. 3000.000 Millions as against the existing borrowing Limit of Rs. 2000.000 Millions.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10389233 |
07/11/2012 |
100,000,000.00 |
UNION BANK OF INDIA |
OVERSEAS BRANCH, UNION BANK BHAVAN,GROUND FLOOR,, |
B63067136 |
|
2 |
10354750 |
19/04/2012 |
30,000,000.00 |
ANDHRA BANK |
116, SAURABH, ANDHERI KURLA ROAD, ANDHERI (EAST), |
B39344197 |
|
3 |
10465721 |
19/01/2012 |
119,000,000.00 |
UNION BANK OF INDIA |
OVERSEAS BRANCH, UNION BANK BHAVAN,GROUND FLOOR,, |
B85726578 |
|
4 |
10377919 |
11/01/2012 |
30,000,000.00 |
ANDHRA BANK |
116, SAURABH, ANDHERI KURLA ROAD, ANDHERI (EAST), |
B34474577 |
|
5 |
10202326 |
29/01/2010 |
5,500,000.00 |
STATE BANK OF PATIALA |
BANDRA (WEST) BRANCH,MEENA APARTMENTS, 82, HILL R |
A79412771 |
|
6 |
10147042 |
16/03/2009 * |
95,000,000.00 |
UNION BANK OF INDIA (LEAD BANK) |
OVERSEAS BRANCH, GROUND FLOOR, UNION BANK BHAVAN, |
A58918905 |
|
7 |
10078440 |
30/11/2007 |
100,000,000.00 |
BARCLAYS BANK PLC |
801/ 808 CEEJAY HOUSE, SHIVSAGAR, ESTATE, DR ANNI |
A27695709 |
|
8 |
10046460 |
31/05/2010 * |
1,450,000,000.00 |
UNION BANK OF INDIA (LEAD BANK) |
OVERSEAS BRANCH,GROUND FLOOR,UNION BANK BHAVAN,, |
A88359328 |
|
9 |
90159619 |
03/05/2004 * |
32,000,000.00 |
PUNJAB NATIONAL BANK |
GEN J.L BHOSALE MARG, NARIMAN POINT, MUMBAI, MAHA |
- |
|
10 |
90156575 |
03/05/2004 * |
56,200,000.00 |
PUNJAB NATIONAL BANK |
GEN J.L BHOSALE MARG, NEAR SACHIVALAYA GYMKHANA; |
- |
* Date of charge modification
FIXED ASSETS
- Lease hold Land
- Buildings
- Plant and Machinery
- Solvents
- Electrical Installations
- Factory Equipments
- Laboratory Equipments
- Air Conditioners
- Furniture and Fixtures
- Office Equipments
- Computers
- Vehicles
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.62.25 |
|
|
1 |
Rs.96.01 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
26 |
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.