MIRA INFORM REPORT
|
Report No. : |
301608 |
|
Report Date : |
05.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
VENUS WIRE INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
19, Raghuvanshi Mills Compound,
S.B. Marg, Lower Parel
(West), Mumbai – 400 013, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
15.03.1990 |
|
|
|
|
Com. Reg. No.: |
11-055812 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.904 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31300MH1990PTC055812 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV04136G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV1421F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Stainless Steel Wire, Bars
and Bright Wire and Bars. |
|
|
|
|
No. of Employees
: |
Information declined by the 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 a part of “Venus Group of Companies”. It is an established
company having satisfactory track. Management has failed to file its financials for FY13 as well as FY14,
whereas recently only filed form 20B for FY13, with the statutory
authorities. Ms. Pinky from administration department provided general information
and denied to disclose any details of the subject to us. As per indirect source i.e. CARE, we found that the company possesses
a favorable financial profile marked by comfortable liquidity position and
strong debt protection metrics. Moreover, management has reported a healthy total operating income as
well as the net profit which is further susceptible to varying raw material
prices as well as fluctuation in foreign exchange rates. However, trade relations are fair. Business is active. Payment terms
are reported as usually correct. In view of experienced promoters, the subject can be considered for
business dealings at usual trade terms and conditions. Note: Financial for the year 2013 is taken from indirect source i.e. CARE. |
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 = A- |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
18.03.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
18.03.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Ms. Pinky |
|
Designation : |
Administration Department |
|
Contact No.: |
91-22-30451000 |
|
Date : |
02.01.2015 |
LOCATIONS
|
Registered Office/ Corporate Office : |
19, Raghuvanshi Mills Compound,
S.B. Marg, Lower Parel
(West), Mumbai – 400 013, Maharashtra, India |
|
Tel. No.: |
91-22-24978840 / 30451000 / 24978839 / 30451001 / 30451000 |
|
Fax No.: |
91-22-24978846 / 66459735 / 30451045 |
|
E Fax No. (Mumbai): |
91-22-66459735 |
|
E Fax No. (USA): |
+ 001 208 4391355 |
|
E Fax No. (Germany): |
+49 1805 48201 51388 |
|
E-Mail : |
Management: grsanghvi@venuswires.com Sales Enquiry: haresh@venuswires.com Quality Control: rkg@venuswires.com Shipping: shipping@venuswires.com Service Issues: support@venuswires.com |
|
Website : |
|
|
Area : |
16000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory / Sales
Office : |
Atkargaon, Takai -Adoshi, Khopoli – 410 203, Maharashtra, India |
|
Tel. No.: |
91-2192-304800 / 263404 / 262612 |
|
Fax No.: |
91-2192-268873 / 304850 |
|
E-Mail : |
|
|
Area : |
7.5 Acres |
|
Location : |
Owned |
DIRECTORS
AS ON 28.09.2013
|
Name : |
Mr. Babulal Parasmal
Bohra |
|
Designation : |
Director |
|
Address : |
401, Chetana Apartment, Bharat Nagar, Grant Road,
Mumbai – 400 007, Maharashtra, India |
|
Date of Birth/Age : |
01.01.1951 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
15.03.1990 |
|
DIN No.: |
01453687 |
|
PAN No.: |
AABPB2438G |
|
|
|
|
Name : |
Mr. Gheverchand Parasmal
Bohra |
|
Designation : |
Director |
|
Address : |
401, Chetana Apartment, Bharat
Nagar, Grant Road, Mumbai – 400 007, Maharashtra, India |
|
Date of Birth/Age : |
24.12.1954 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
15.03.1990 |
|
DIN No.: |
01491771 |
|
|
|
|
Name : |
Mr. Motilal Parasmal
Bohra |
|
Designation : |
Director |
|
Address : |
401, Chetana Apartment, Bharat
Nagar, Grant Road, Mumbai – 400 007, Maharashtra, India |
|
Date of Birth/Age : |
19.10.1961 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
15.03.1990 |
|
DIN No.: |
01601492 |
|
|
|
|
Name : |
Mr. Gheverchand Raghunath
Sanghvi |
|
Designation : |
Director |
|
Address : |
D/1/16, Bharat Nagar,
Grant Road, Mumbai – 400 007, Maharashtra, India |
|
Date of Birth/Age : |
10.08.1964 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
15.03.1990 |
|
DIN No.: |
01597211 |
|
|
|
|
Name : |
Mr. Hitesh Babulal
Bohra |
|
Designation : |
Director |
|
Address : |
401, Chetana Apartment, Bharat
Nagar, Grant Road, Mumbai – 400 007, Maharashtra, India |
|
Qualification : |
B. Com |
|
Date of Appointment: |
10.12.2005 |
|
DIN No.: |
01596934 |
KEY EXECUTIVES
|
Name : |
Ms. Pinky |
|
Designation : |
Administration Department |
MAJOR SHAREHOLDERS
AS ON 28.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Babulal P. Bohra |
|
10010 |
|
Ghevarchand P. Bohra |
|
8510 |
|
Motilal P. Bohra |
|
11010 |
|
Gheverchand R. Sanghvi |
|
9210 |
|
Manju Indechand Surana |
|
500 |
|
Moolchand Sanghvi |
|
1000 |
|
Bacharaj Sanghvi |
|
1000 |
|
Bhavarlal S. Bohra |
|
1000 |
|
Ramesh B. Bafna |
|
1000 |
|
Hemant G. Bohra |
|
1000 |
|
Babulal P. Bohra and Shantaben B. Bohra |
|
11800 |
|
Hitesh B. Bohra |
|
1500 |
|
Haresh B. Bohra |
|
1500 |
|
Total
|
|
59040 |
Equity Share Break up (Percentage of Total Equity)
AS ON 28.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Stainless Steel Wire, Bars
and Bright Wire and Bars. |
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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 31.03.2010):
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
Steel, Alloy Steel and S.S. Steel Wire |
M/Tons |
12000 |
12000 |
|
Semi-finished Iron and Steel Products i.e. Steel Bright Bars |
M/Tons |
8000 |
8000 |
|
Particulars |
Unit |
Actual
Production |
|
Own |
|
|
|
SS Wire |
M/Tons |
7507 |
|
SS Bright Bars |
M/Tons |
2440 |
|
SS Scrap |
M/Tons |
504 |
|
Dross |
M/Tons |
167 |
|
|
|
10618 |
|
Production on Job
Work Basis |
M/Tons |
4721 |
|
|
M/Tons |
15339 |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the Management. |
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Bankers : |
Bank of Baroda, Nariman Point,
Mumbai, Maharashtra, India |
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Facilities : |
|
|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
M.C. Doshi and Company Chartered Accountants |
|
Address : |
307, Vaishali Apartments, 30/31, Parekh Street, Prarthana Samaj, Mumbai – 400 004, Maharashtra, India |
|
Tel. No. : |
91-22-67437416 / 17 |
|
Fax No. : |
91-22-23824232 |
|
E-Mail : |
|
|
PAN
No.: |
AABPD5830G |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/ Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.100/- each |
Rs.50.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
59040 |
Equity Shares |
Rs.100/- each |
Rs.5.904 millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)
Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
5.904 |
5.904 |
|
(b) Reserves & Surplus |
|
750.435 |
639.231 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
756.339 |
645.135 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
2.500 |
2.500 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) Long-term provisions |
|
5.333 |
5.975 |
|
Total Non-current Liabilities (3) |
|
7.833 |
8.475 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
177.866 |
282.855 |
|
(b) Trade payables |
|
223.672 |
104.329 |
|
(c) Other current
liabilities |
|
48.619 |
28.941 |
|
(d) Short-term provisions |
|
2.885 |
9.602 |
|
Total Current Liabilities (4) |
|
453.042 |
425.727 |
|
|
|
|
|
|
TOTAL |
|
1217.214 |
1079.337 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
134.707 |
129.798 |
|
(ii) Intangible Assets |
|
2.419 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.576 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1.595 |
1.595 |
|
(c) Deferred tax assets (net) |
|
8.343 |
6.886 |
|
(d) Long-term Loan and Advances |
|
1.025 |
1.291 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
148.665 |
139.570 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
251.467 |
127.366 |
|
(c) Trade receivables |
|
449.340 |
493.172 |
|
(d) Cash and cash
equivalents |
|
48.572 |
35.265 |
|
(e) Short-term loans and
advances |
|
35.489 |
79.589 |
|
(f) Other current assets |
|
283.681 |
204.375 |
|
Total Current Assets |
|
1068.549 |
939.767 |
|
|
|
|
|
|
TOTAL |
|
1217.214 |
1079.337 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
5.904 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
490.483 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
496.387 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
278.081 |
|
|
2] Unsecured Loans |
|
|
35.000 |
|
|
TOTAL BORROWING |
|
|
313.081 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
809.468 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
124.675 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
Advance Against Capital Expenditure |
|
|
2.563 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1.491 |
|
|
DEFERRED TAX ASSETS |
|
|
5.699 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
268.070
|
|
|
Sundry Debtors |
|
|
479.518
|
|
|
Cash & Bank Balances |
|
|
27.391
|
|
|
Other Current Assets |
|
|
0.839
|
|
|
Loans & Advances |
|
|
128.965
|
|
Total
Current Assets |
|
|
904.783 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
200.150 |
|
|
Other Current Liabilities |
|
|
24.203
|
|
|
Provisions |
|
|
5.390
|
|
Total
Current Liabilities |
|
|
229.743 |
|
|
Net Current Assets |
|
|
675.040
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
809.468 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales (Gross) |
2362.291 |
2536.998 |
1720.025 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
NA |
NA |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
241.001 |
289.378 |
132.077 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST & OTHER
FINANCIAL EXPENSES (D) |
33.335 |
42.820 |
16.204 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
207.666 |
246.558 |
115.873 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
27.008 |
27.468 |
22.204 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
180.658 |
219.090 |
93.669 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
69.454 |
70.341 |
33.540 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
111.204 |
148.749 |
60.129 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
635.732 |
486.983 |
426.854 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
746.936 |
635.732 |
486.983 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Values of Exports |
1630.109 |
1788.743 |
1089.094 |
|
|
TOTAL EARNINGS |
1630.109 |
1788.743 |
1089.094 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
54.968 |
|
|
|
Trading Goods |
NA |
NA |
5.010 |
|
|
|
Components and Spares |
NA |
NA |
3.238 |
|
|
|
Capital Goods |
NA |
NA |
18.623 |
|
|
TOTAL IMPORT
VALUE |
NA |
NA |
81.839 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
1883.54 |
2519.46 |
1018.45 |
|
AS PER INDIRECT
SOURCE I.E. CARE
|
|
PARTICULARS |
|
|
31.03.2013 |
|
|
|
|
|
|
|
|
TOTAL INCOME |
|
|
2818.200 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
|
|
122.600 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PAT/Sales) |
(%) |
4.71 |
5.86 |
3.50 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Sales) |
(%) |
10.20 |
11.41 |
7.68 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.97 |
20.46 |
9.10 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.34 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.24 |
0.44 |
0.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.36 |
2.21 |
3.94 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2011 |
31.03.2012 |
|
|
|
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
|
5.904 |
5.904 |
|
Reserves & Surplus |
|
639.231 |
750.435 |
|
Money received against
share warrants |
|
0.000 |
0.000 |
|
Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Net worth |
|
645.135 |
756.339 |
|
|
|
|
|
|
Long Term borrowings |
|
2.500 |
2.500 |
|
Short Term borrowings |
|
282.855 |
177.866 |
|
Total borrowings |
|
285.355 |
180.366 |
|
Debt/Equity ratio |
|
0.442 |
0.238 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Sales (Gross) |
1720.025 |
2536.998 |
2362.291 |
|
|
|
47.498 |
-6.886 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Sales (Gross) |
1720.025 |
2536.998 |
2362.291 |
|
Profit |
60.129 |
148.749 |
111.204 |
|
|
8.65% |
4.38% |
#REF! |
LOCAL AGENCY FURTHER INFORMATION
NOTE: Current
Maturities of Long Term Debts is 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 |
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 |
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 |
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 |
OPERATIONS
The company’s performance
was not satisfactory y during the year due to recession globally in this year.
Total sales for the year was
of Rs.2362.300 millions (Export Rs.1630.100 millions) as against Rs.2537.000
millions (Export Rs.1786.500 millions) in the previous year. The net profit
after tax is Rs.111.200 millions as compared to previous year’s figure of
Rs.148.700 millions. The result of this year was not good compared to previous
year.
FINANCE
The company has not
obtained any term loan for its expansion /backward integration but carried out
the same with internal Generation.
UNSECURED LOANS
|
PARTICULAR |
31.03.2012 (Rs. In Millions) |
31.03.2011 (Rs. In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Other
loans and advances |
2.500 |
2.500 |
|
Total |
2.500 |
2.500 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
90242494 |
27/02/2004 |
656,000.00 |
CENTURIAN BANK LIMITED |
322; SWASTIK CHAMBER,
TROMBAY ROAD, MUMBAI, MAHARASHTRA, INDIA |
- |
|
2 |
80008538 |
29/03/2007 * |
529,750,000.00 |
DENA BANK |
INDUSTRIAL FINANCE
BRANCH, MAKER TOWER 'E', 9TH FLOOR, CUFFE PARADE, MUMBAI, MAHARASHTRA -
400005, INDIA |
- |
|
3 |
90242449 |
29/03/2007 * |
529,750,000.00 |
DENA BANK |
INDUSTRIAL FINANCE BRANCH,
MAKER TOWER 'E', 9TH FLOOR, CUFFE PARADE,, MUMBAI, MAHARASHTRA -
400005, |
- |
|
4 |
90242329 |
23/09/2004 * |
245,000,000.00 |
DENA BANK |
INDUSTRIAL FINANCE BRNCH,
MAKER TOWER; CUFFE PARADE, MUMBAI, MAHARASHTRA, INDIA |
- |
|
5 |
90242298 |
17/10/2000 |
30,000,000.00 |
SICOM LIMITED |
NIRMAL IST FLOOR, NARIMAN
POINT, MUMBAI, MAHARASHTRA, INDIA |
- |
|
6 |
90242259 |
04/12/2003 * |
154,875,000.00 |
CENTURIAN BANK LIMITED |
322; SWASTIK CHAMBER,
TROMBAY ROAD, MUMBAI, MAHARASHTRA, INDIA |
- |
|
7 |
90242190 |
10/06/1998 |
154,875,000.00 |
DENA BANK |
INDUSTRIAL FINANCE BRNCH,
MAKER TOWER; CUFFE PARADE, MUMBAI, MAHARASHTRA, INDIA |
- |
|
8 |
90242079 |
15/04/1996 |
20,000,000.00 |
DENA BANK |
INDUSTRIAL FINANCE BRNCH,
MAKER TOWER; CUFFE PARADE, MUMBAI, MAHARASHTRA, INDIA |
- |
|
9 |
90242017 |
10/06/1998 * |
44,300,000.00 |
DENA BANK |
INDUSTRIAL FINANCE BRNCH,
MAKER TOWER; CUFFE PARADE, MUMBAI, MAHARASHTRA, INDIA |
- |
|
10 |
90242016 |
18/05/1994 |
8,000,000.00 |
DENA BANK |
INDUSTRIAL FINANCE BRNCH,
MAKER TOWER; CUFFE PARADE, MUMBAI, MAHARASHTRA, INDIA |
- |
|
11 |
90242010 |
17/03/2003 * |
44,500,000.00 |
DENA BANK |
INDUSTRIAL FINANCE BRNCH,
MAKER TOWER; CUFFE PARADE, MUMBAI, MAHARASHTRA, INDIA |
- |
|
12 |
90242008 |
19/01/2000 * |
4,000,000.00 |
DENA BANK |
GULAWDI BRNCH, MAKER
TOWER; CUFFE PARADE, MUMBAI, MAHARASHTRA, INDIA |
- |
|
13 |
90241982 |
26/03/1993 * |
1,400,000.00 |
DENA BANK |
GULAWDI BRNCH, MUMBAI,
MAHARASHTRA, INDIA |
- |
|
14 |
90241975 |
19/01/1994 * |
9,400,000.00 |
DENA BANK |
GULAWDI BRNCH, MAKER
TOWER; CUFFE PARADE, MUMBAI, MAHARASHTRA, INDIA |
- |
|
15 |
90241959 |
15/05/1992 |
1,500,000.00 |
DENA BANK |
GULAWDI BRNCH, MAKER
TOWER; CUFFE PARADE, MUMBAI, MAHARASHTRA, INDIA |
- |
|
16 |
90241937 |
11/07/1991 |
11,600,000.00 |
DENA BANK |
INDUSTRIAL FINANCE BRNCH,
MAKER TOWER; CUFFE PARADE, MUMBAI, MAHARASHTRA, INDIA |
- |
|
17 |
90241935 |
20/12/1999 * |
11,600,000.00 |
SICOM LIMITED |
NIRMAL IST FLOOR, NARIMAN
POINT, MUMBAI, MAHARASHTRA, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Machinery
·
Electrical Installations
·
Furniture and Fixtures
·
Vehicles
·
Office Equipments
·
Computers
Intangible Assets
·
Computer Software
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 : |
SVA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
NO |
|
--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.