MIRA INFORM REPORT
|
Report Date : |
03.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
GRAND ORGANICS PRIVATE LIMITED |
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Registered
Office : |
Plot No.D-2/26, Bicholim Industrial Estate, Bicholim - 403529, |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
19.04.1994 |
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Com. Reg. No.: |
24-001573 |
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Capital
Investment / Paid-up Capital : |
Rs. 30.000 Millions |
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IEC No.: |
1795000660 |
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CIN No.: [Company Identification
No.] |
U24119GA1994PTC001573 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRG03681G |
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PAN No.: [Permanent Account No.] |
AABCG0794K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Trader of Chemicals |
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No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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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 satisfactory track. General financial position of the company is normal and acceptable for
business dealing. Trade relations are reported as fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered normal 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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.
INFORMATION PARTED BY
|
Name : |
Mr. Uttam Parab |
|
Designation : |
Finance Executive |
|
Contact No.: |
91-9822125358 |
|
Date : |
31.12.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No.D-2/26, Bicholim Industrial Estate, Bicholim – 403529, |
|
Tel. No.: |
91-832-2362175 / 2362184 / 2362337 / 2362865 / 2362977 / 362257 |
|
Mobile No.: |
91-9822125358 (Mr. Uttam K. Parab) |
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Fax No.: |
91-832-6613290 / 2362257 |
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E-Mail : |
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Website : |
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Corporate Office : |
Hari Nivas, 1st Floor, 19, Mathew Road, Mumbai-400004,
Maharashtra, India NOTE: As claimed by
Mr. Uttam K. Parab (Finance Executive) that corporate office address is no
more active. |
|
Tel. No.: |
91-22-23630466 / 23630466 / 23610523 |
|
Fax No.: |
91-22-23644285 |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Zubin Keki Gandhi |
|
Designation : |
Director |
|
Address : |
1-2M, H No. 19, Harniwas Mathwer Marg, Mumbai – 400004, |
|
Date of Birth/Age : |
30.11.1968 |
|
Qualification : |
B. A. Philosophy |
|
Date of Appointment : |
05.10.2006 |
|
Voter Id Card No.: |
MT/04/023/183647 |
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DIN No.: |
00664632 |
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|
|
|
Name : |
Mr. Amol Ashok Walke |
|
Designation : |
Director |
|
Address : |
D-29, Sushila Housing Board Colony, Mapusa, Bardez – 403507, |
|
Date of Birth/Age : |
31.10.1983 |
|
Qualification : |
PHD Chemicals |
|
Date of Appointment : |
21.01.2002 |
|
Voter Id Card No.: |
CPQ2177012 |
|
DIN No.: |
00664315 |
KEY EXECUTIVES
|
Name : |
Mr. Uttam Parab |
|
Designation : |
Finance Executive |
|
|
|
|
Name : |
Vijay S. Tiwari And Associates |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Zubin Keki Gandhi |
150000 |
50.00 |
|
Anjali Aashok Walke |
135000 |
45.00 |
|
Amol Ashok Walke |
15000 |
5.00 |
|
|
|
|
|
TOTAL |
300000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Equity Share
Break Up Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Chemicals |
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Products : |
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Brand Names : |
- |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Chemicals |
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Countries : |
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Imports : |
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Products : |
Raw materials |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
200 (Approximately) |
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Bankers : |
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Financial Institutions : |
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Auditors : |
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Name : |
Y. K. Desai and Company Chartered Accountants |
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Address : |
106, Prospect Chambers, 317/321, |
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Tel. No.: |
91-22-22045015 |
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Telefax No.: |
91-22-43215014 |
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Email : |
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Pan No.: |
AACPD2467L |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries (31.03.2011) |
·
Esteem Industries Private Limited Plot No.76-77, Pissurlem Industries Estate, Pissurlem-Sattari – (Manufacturer of Chemicals) ·
Venus Ethoxyethers Private Limited Plot No.109-111, Bicholim Industrial Estate, Bicholim – 403529, (Manufacturer of Chemicals) ·
VIC Industries Plot No.76, Pissurlem Industrial Estate, (Manufacturer of Chemicals) |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300,000 |
Equity Shares |
Rs.100/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300,000 |
Equity Shares |
Rs.100/- each |
Rs.30.000 Millions |
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|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
30.000 |
30.000 |
30.000 |
|
(b) Reserves & Surplus |
130.044 |
116.369 |
109.109 |
|
(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) |
160.044 |
146.369 |
139.109 |
|
|
|
|
|
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(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
9.513 |
17.234 |
9.653 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
25.600 |
|
Total Non-current
Liabilities (3) |
9.513 |
17.234 |
35.253 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
193.650 |
201.657 |
155.687 |
|
(b) Trade payables |
0.000 |
0.000 |
117.874 |
|
(c) Other current
liabilities |
119.526 |
89.778 |
20.332 |
|
(d) Short-term
provisions |
26.893 |
18.108 |
0.000 |
|
Total Current
Liabilities (4) |
340.069 |
309.543 |
293.893 |
|
|
|
|
|
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TOTAL |
509.626 |
473.146 |
468.255 |
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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 |
40.311 |
37.889 |
39.086 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
2.418 |
2.194 |
3.597 |
|
(d) Long-term Loan and Advances |
23.462 |
22.697 |
50.159 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
66.191 |
62.780 |
92.842 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
86.898 |
77.868 |
97.823 |
|
(c) Trade receivables |
263.616 |
253.936 |
206.929 |
|
(d) Cash and cash
equivalents |
28.347 |
21.089 |
25.388 |
|
(e) Short-term loans
and advances |
64.574 |
57.473 |
45.273 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
443.435 |
410.366 |
375.413 |
|
|
|
|
|
|
TOTAL |
509.626 |
473.146 |
468.255 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
881.538 |
766.293 |
729.124 |
|
|
|
Other Income |
9.808 |
5.422 |
3.840 |
|
|
|
TOTAL (A) |
891.346 |
771.715 |
732.964 |
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
455.964 |
366.359 |
361.642 |
|
|
|
Purchase of Stock-in-trade |
223.318 |
188.377 |
168.148 |
|
|
|
Changes in inventories of Finished goods,
Work-in-progress and Stock-in-trade |
2.905 |
22.482 |
(8.416) |
|
|
|
Other Manufacturing Expenses |
62.544 |
60.043 |
71.783 |
|
|
|
Employee benefits Expenses |
25.813 |
25.010 |
27.455 |
|
|
|
Other Expenses |
56.699 |
57.851 |
59.661 |
|
|
|
TOTAL (B) |
827.243 |
720.122 |
680.273 |
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|
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|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
64.103 |
51.593 |
52.691 |
|
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|
|
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|
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|
Less |
FINANCIAL
EXPENSES (D) |
35.641 |
31.615 |
33.407 |
|
|
|
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|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
28.462 |
19.978 |
19.284 |
|
|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.310 |
6.651 |
7.408 |
|
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|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
21.152 |
13.327 |
11.876 |
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|
|
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|
|
|
|
Less |
TAX (H) |
7.476 |
6.067 |
4.009 |
|
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|
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|
|
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|
PROFIT AFTER TAX
(G-H) (I) |
13.676 |
7.260 |
7.867 |
|
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|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
45.59 |
24.20 |
26.22 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.55 |
0.95 |
1.08 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
7.27 |
6.73 |
7.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.17 |
2.83 |
2.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.09 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.27 |
1.50 |
1.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30 |
1.33 |
1.28 |
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 |
30.000 |
30.000 |
30.000 |
|
Reserves & Surplus |
109.109 |
116.369 |
130.044 |
|
Net worth |
139.109 |
146.369 |
160.044 |
|
|
|
|
|
|
long-term borrowings |
9.653 |
17.234 |
9.513 |
|
Short term borrowings |
155.687 |
201.657 |
193.650 |
|
Total borrowings |
165.340 |
218.891 |
203.163 |
|
Debt/Equity ratio |
1.189 |
1.495 |
1.269 |
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 |
729.124 |
766.293 |
881.538 |
|
|
|
5.098 |
15.039 |
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 |
729.124 |
766.293 |
881.538 |
|
Profit |
7.867 |
7.260 |
13.676 |
|
|
1.08% |
0.95% |
1.55% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
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 |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if
applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10528808 |
25/09/2014 |
20,000,000.00 |
Pyramid Finance Private Limited |
Salgaocar House, F Luis Gomes Road, Vasco
Da Gama, Goa, Goa - 403802, India |
C31604556 |
|
2 |
10503246 |
04/06/2014 |
8,200,000.00 |
Pyramid Finance Private Limited |
Salgaocar House, F Luis Gomes Road, Vasco
Da Gama, Goa, Goa - 403802, India |
C06729818 |
|
3 |
10521320 |
12/09/2014 * |
215,000,000.00 |
Canara Bank |
Narayan Building, Ii Floor, Kurla Andheri
Road,, |
C28947224 |
|
4 |
10482228 |
17/02/2014 |
3,100,000.00 |
Pyramid Finance Private Limited |
Salgaocar House, F Luis Gomes Road, Vasco
Da Gama, Goa, Goa - 403802, India |
B98358617 |
|
5 |
10450906 |
26/09/2013 |
507,000.00 |
HDFC Bank Limited |
Hdfc Bank Housesenapati Bapat Marg, Lower Parel
W, Mumbai, Maharashtra - 400013, India |
B85681724 |
|
6 |
10452597 |
12/09/2013 |
20,000,000.00 |
Pyramid Finance Private Limited |
Salgaocar House, F Luis Gomes Road, Vasco
Da Gama, Goa, Goa - 403802, India |
B86489234 |
|
7 |
10441167 |
19/07/2013 * |
2,800,000.00 |
Pyramid Finance Private Limited |
Salgaocar House, F Luis Gomes Road, Vasco
Da Gama, Goa, Goa - 403802, India |
B81941346 |
|
8 |
10433103 |
29/05/2013 |
1,824,000.00 |
Pyramid Finance Private Limited |
Salgaocar House, F Luis Gomes Road, Vasco
Da Gama, Goa, Goa - 403802, India |
B77994762 |
|
9 |
10421092 |
02/04/2013 |
21,000,000.00 |
Pyramid Finance Private Limited |
Salgaocar House, F Luis Gomes Road, Vasco
Da Gama, Goa, Goa - 403802, India |
B73573628 |
|
10 |
10405736 |
29/01/2013 |
4,000,000.00 |
Pyramid Finance Private Limited |
Salgaocar House, F Luis Gomes Road, Vasco
Da Gama, Goa, Goa - 403802, India |
B68790773 |
*Date of charge modification
Fixed Assets:
- Land
- Building
- Plant and Machinery
- New Shed
- Furniture and Fixtures
- Electrical Installation
- Safety Equipment
- Generator
- Borewell
- Motor Car
- Office Equipments
- Computer
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.29 |
|
|
1 |
Rs.98.39 |
|
Euro |
1 |
Rs.76.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.