MIRA INFORM REPORT
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Report No. : |
302070 |
|
Report Date : |
07.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
JHAVERI FLEXO INDIA LIMITED (w.e.f 11.09.2006) |
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Formerly Known
As : |
FLEXO FILM WRAPS (INDIA) LIMITED |
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Registered Office
: |
Gut No. 74, Farola, Paithan Road, Aurangabad – 431105, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
16.04.1985 |
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Com. Reg. No.: |
11-035938 |
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Capital Investment
/ Paid-up Capital : |
Rs. 153.064 Millions |
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CIN No.: [Company Identification
No.] |
U25209MH1985PLC035938 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
NKSF00196A |
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PAN No.: [Permanent Account No.] |
AAACF4037F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Laminate, PPC Films, Stretch Films, etc. |
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No. of Employees
: |
700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having satisfactory track
record. As per Registrar of companies the date of balance sheet i.e. financial
filed is shown as 31st March, 2014 but the documents related to the
financials for the year 2014 are not available from any sources. Mr. Anil Somani (V. P. Accounts and Finance) has provided us with all
information and he also confirmed that the company has sales turnover of Rs. 350.000
Millions for the year 2014 is not verified. As per available financial of 2013, the company possesses a favourable
financial profile marked by adequate networth base and moderate debt
protection indicators along with decent liquidity position. Management has achieved a steady growth over past few years
demonstrated by the increases in operating income during FY 2013. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of long standing track, the subject 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.
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. Somani |
|
Designation : |
V.P. Account and Finance |
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Contact No.: |
91-9423147915 |
|
Date : |
06.01.2015 |
LOCATIONS
|
Registered Office/ Factory 1 : |
Gut No. 74, Farola, Paithan Road, Aurangabad – 431105, Maharashtra,
India |
|
Tel. No.: |
91-2431-251663 / 664 |
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Mobile No.: |
91-9423147915 (Mr. Somani) |
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Fax No.: |
91-2431-251661 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Head / Corporate Office : |
9th and 10th Floor, Gold Crest, 10th
Road, J.V.P.D Scheme, Near HSBC Bank, Vile Parle (West), Mumbai – 400049,
Maharashtra, India |
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Tel. No.: |
91-22-61512121 |
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E-Mail : |
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Factory 2: |
Dapada, Silvassa
Factory Survey No. 135/2, Village Dapada, Khanvel Road, Silvassa – 396230.
U.T. OF D.N.H. |
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Tel No.: |
91-260-2699084/ 184 |
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Factory 3: |
Luhari, Silvassa
Factory 188/2/1, Village Luhari, Opposite Govt Tourism Resort, Silvassa – 396
230, U.T OF D.N.H. |
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Tel No.: |
91-2602993437 |
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Indian Sales Offices : |
Located at: · Mumbai · Chennai · Delhi · Aurangabad · Hyderabad · Bangalore · Kolkata |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Sandeep Bipinchandra Jhaveri |
|
Designation : |
Managing Director |
|
Address : |
Plot No. 21, Nutan Laxmi Society, Crest Building, 6th
Floor, JVPD Scheme, 9th (N-S) Road, Vile Parle, Mumbai – 400049,
Maharashtra, India |
|
Date of Birth/Age : |
07.10.1959 |
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Date of Appointment : |
19.10.2006 |
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PAN No.: |
AATPJ3903A |
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DIN No. : |
00080518 |
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|
Name : |
Mr. Rajul Sandeep Jhaveri |
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Designation : |
Director |
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Address : |
Plot No. 21, Nutan Laxmi Society, Crest Building, 6th
Floor, JVPD Scheme, 9th (N-S) Road, Vile Parle, Mumbai – 400049,
Maharashtra, India |
|
Date of Birth/Age : |
15.12.1960 |
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Date of Appointment : |
10.09.2005 |
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PAN No. : |
ABKPJ5415D |
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DIN No. : |
00093998 |
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Name : |
Mr. Dinesh Chandra Shah |
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Designation : |
Director |
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Address : |
161-A, Kalpataru Residency, 16th Floor, Tower – A, Sion
(East), Mumbai – 400022, Maharashtra, India |
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Date of Birth/Age : |
08.10.1957 |
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Date of Appointment : |
30.07.2005 |
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DIN No. : |
00298463 |
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Name : |
Mr. Abhishek Suketu Jhaveri |
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Designation : |
Whole-time Director |
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Address : |
4th Floor, 42, Neelamber Building, 37, Peddar Road, Mumbai
– 400026, Maharashtra, India |
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Date of Birth/Age : |
09.01.1986 |
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Date of Appointment : |
19.05.2008 |
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PAN No. : |
AFEPJ1695R |
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DIN No. : |
02293226 |
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Name : |
Mr. Marunal Sandeep Jhaveri |
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Designation : |
Whole-time Director |
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Address : |
Plot No. 21, Nutan Laxmi Society, Crest Building, 6th Floor,
JVPD Scheme, 9th (N-S) Road, Vile Parle, Mumbai – 400049,
Maharashtra, India |
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Date of Birth/Age : |
29.10.1985 |
|
Date of Appointment : |
29.10.2009 |
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PAN No. : |
AEZPJ0790D |
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DIN No. : |
02350001 |
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|
Name : |
Nishita Suketu Jhaveri |
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Designation : |
Director |
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Address : |
5/C, Ridge Apartment, 18, Ridge Road, Mumbai – 400004, Maharashtra,
India |
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Date of Birth/Age : |
09.09.1966 |
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Date of Appointment : |
31.01.2014 |
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DIN No. : |
06801776 |
KEY EXECUTIVES
|
Name : |
Mr. Ashish Gupta |
|
Designation : |
Secretary |
|
Address : |
Flat No.1, Ground Floor, Nirala Apartment, Near Mariya Hospital,
Basilal Naagr, Aurangabad – 431005, Maharashtra, India |
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Date of Birth/Age : |
04.03.1976 |
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Date of Appointment : |
01.09.2004 |
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PAN No. : |
AJDPG8507C |
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|
Name : |
Mr. Somani |
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Designation : |
V.P. Account and Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2013
|
Name of shareholders |
No. of Shares |
|
Sandeep B. Jhaveri |
8585000 |
|
Rajul S. Jhaveri |
5495729 |
|
Jhaveri Family Trust |
2828000 |
|
Aniket Suketu Jhaveri |
2040750 |
|
Arahant Suketu Jhaveri |
2016750 |
|
Abhishek Suketu Jhaveri |
3186875 |
NOTE: ALLOTTEES DETAILS FILE ATTACHED.
As on 29.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Public financial companies |
0.01 |
|
Nationalised or other banks |
0.01 |
|
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others |
0.79 |
|
Bodies corporate |
12.66 |
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Directors or relatives of Directors |
82.56 |
|
Other top fifty shareholders |
2.62 |
|
Others |
1.35 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Laminate, PPC Films, Stretch Films, etc. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Laminate, PPC Films, Stretch Films, etc |
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Countries : |
· UK · USA · Saudi Arabia · Sri Lanka |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
· Singapore · Hong Kong · Thailand |
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Terms : |
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Selling : |
Cash and Advance Payment |
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Purchasing : |
Cash and Advance Payment |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
· Reliance Industrial Limited · Qutar Petrochemical Limited |
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Customers : |
Wholesalers and Retailers · Pepsico Limited · Nestle Limited · Britannia · Cadbury · GULF · Cargill · Dabur · Indian Oil · ITC Limited · JSW |
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No. of Employees : |
700 (Approximately) |
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Bankers : |
·
The Saraswat Co-Operative Bank Limited, Rasec
Borivli West Branch,Shobhana Apartment, Chandavarkar Road, Borivli (West),
Mumbai - 400092, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Bhatter and Company Chartered Accountants |
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Address : |
307, Tulsiani Cha,ber, Nariman Point, Mumbai – 400021, Maharashtra,
India |
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Income-tax
PAN of auditor or auditor's firm : |
AACPB2705R |
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Associates : |
· Wellworth Industries Limited CIN No.: L21022MH1994PLC170382 · Sangam Press Private Limited CIN No.: U22110MH1947PTC005528 · Mars Fincom Private Limited CIN No.: U51909MH1995PTC197277 · Lathia Rubber Manufacfacturing Co Private Limited CIN No.: U99999MH1969PTC014250 · R.S. Jhaveri and Company · R. S. Jhaveri Steel and Company Private Limited · Alcom Investment Private Limited · Vaishali India Limited · Vaishali Pigments Private Limited |
CAPITAL STRUCTURE
After 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000,000 |
Equity Shares |
Rs.5/- each |
Rs. 250.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
38,265,955 |
Equity Shares |
Rs.5/- each |
Rs. 191.330 Millions |
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As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000,000 |
Equity Shares |
Rs.5/- each |
Rs. 250.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30612764 |
Equity Shares |
Rs.5/- each |
Rs. 153.064 Millions |
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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 |
153.064 |
125.803 |
125.803 |
|
(b) Reserves & Surplus |
678.307 |
451.319 |
441.057 |
|
(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) |
831.371 |
577.122 |
566.860 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
442.166 |
619.945 |
461.688 |
|
(b) Deferred tax liabilities (Net) |
27.117 |
21.994 |
16.175 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
469.283 |
641.939 |
477.863 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
374.047 |
344.141 |
343.684 |
|
(b) Trade
payables |
468.541 |
442.162 |
359.293 |
|
(c) Other
current liabilities |
112.470 |
129.944 |
126.851 |
|
(d) Short-term
provisions |
26.384 |
21.583 |
6.253 |
|
Total Current
Liabilities (4) |
981.442 |
937.830 |
836.081 |
|
|
|
|
|
|
TOTAL |
2282.096 |
2156.891 |
1880.804 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
938.717 |
1000.846 |
856.776 |
|
(ii)
Intangible Assets |
0.035 |
0.035 |
0.035 |
|
(iii) Capital
work-in-progress |
63.233 |
7.769 |
73.337 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.050 |
0.050 |
0.050 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1002.035 |
1008.700 |
930.198 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
624.997 |
567.063 |
463.886 |
|
(c) Trade
receivables |
421.492 |
373.106 |
327.442 |
|
(d) Cash
and cash equivalents |
119.259 |
93.394 |
52.161 |
|
(e)
Short-term loans and advances |
109.322 |
109.224 |
101.553 |
|
(f) Other
current assets |
4.991 |
5.404 |
5.564 |
|
Total
Current Assets |
1280.061 |
1148.191 |
950.606 |
|
|
|
|
|
|
TOTAL |
2282.096 |
2156.891 |
1880.804 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3171.057 |
2768.082 |
2418.914 |
|
|
|
Other Income |
26.633 |
10.072 |
3.532 |
|
|
|
TOTAL (A) |
3197.690 |
2778.154 |
2422.446 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2278.063 |
1984.488 |
1768.923 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
19.531 |
(30.565) |
13.995 |
|
|
|
Employee benefit expense |
168.479 |
136.129 |
115.141 |
|
|
|
Other expenses |
433.318 |
414.692 |
373.131 |
|
|
|
Exceptional Items |
1.881 |
(0.136) |
0.145 |
|
|
|
TOTAL (B) |
2901.272 |
2504.608 |
2271.335 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
296.418 |
273.546 |
151.111 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
136.311 |
147.550 |
53.857 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
160.107 |
125.996 |
97.254 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
108.024 |
105.895 |
96.617 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
52.083 |
20.101 |
0.637 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
15.920 |
9.839 |
6.883 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
36.163 |
10.262 |
(6.246) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
121.238 |
110.932 |
117.178 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
157.401 |
121.238 |
110.932 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
356.741 |
206.564 |
55.640 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
724.666 |
734.531 |
675.474 |
|
|
|
Spare Parts |
12.111 |
2.909 |
4.165 |
|
|
|
Office Equipments |
1.241 |
0.000 |
0.000 |
|
|
|
Plant and Machinery |
0.000 |
0.000 |
0.676 |
|
|
TOTAL IMPORTS |
738.018 |
737.440 |
680.315 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.18 |
0.41 |
(0.25) |
|
|
Particulars |
31.03.2014 |
|
|
|
|
Sales Turnover (Approximately) |
3500.000 |
|
|
|
The above information has been parted by Mr. Somani (V.P. Accounts and
Finance)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
1.14 |
0.37 |
(0.26) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
9.35 |
9.88 |
6.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.35 |
0.94 |
0.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.03 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.98 |
1.67 |
1.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30 |
1.22 |
1.14 |
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 |
125.803 |
125.803 |
153.064 |
|
Reserves & Surplus |
441.057 |
451.319 |
678.307 |
|
Net
worth |
566.860 |
577.122 |
831.371 |
|
|
|
|
|
|
long-term borrowings |
461.688 |
619.945 |
442.166 |
|
Short term borrowings |
343.684 |
344.141 |
374.047 |
|
Total
borrowings |
805.372 |
964.086 |
816.213 |
|
Debt/Equity
ratio |
1.421 |
1.671 |
0.982 |
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 |
2418.914 |
2768.082 |
3171.057 |
|
|
|
14.435 |
14.558 |
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 |
2418.914 |
2768.082 |
3171.057 |
|
Profit/ (Loss) |
(6.246) |
10.262 |
36.163 |
|
|
(0.26%) |
0.37% |
1.14% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current Maturities of Long Term Debts |
104.311 |
119.655 |
102.288 |
|
|
|
|
|
|
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
four 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 |
Yes |
|
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 |
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 |
No |
INDEX OF CHARGES
|
SR .NO |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10500776 |
15/05/2014 |
58,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
CIDCO BRANCH, NEAR CIDCO BUS STAND, AURANGABAD, MAHARASHTRA - 431003, INDIA |
C05464250
|
|
2 |
10455557 |
16/09/2013 |
1,836,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
RASEC, KANCHAN CHAMBERS, KRANTI CHOWK, STATION ROAD, AURANGABAD, MAHARASHTRA - 431005, INDIA |
B87789376
|
|
3 |
10429260 |
26/04/2013 |
30,000,000.00 |
SARASWAT CO-OP. BANK LTD |
CIDCO BRANCH, NEAR CIDCO BUS STAND, CIDCO, AURANGABAD, MAHARASHTRA - 431003, INDIA |
B76376219
|
|
4 |
10429267 |
26/04/2013 |
30,000,000.00 |
SARASWAT CO-OP. BANK LTD |
CIDCO BRANCH, NEAR CIDCO BUS STAND, CIDCO, AURANGABAD, MAHARASHTRA - 431003, INDIA |
B76377860
|
|
5 |
10407737 |
07/01/2013 |
99,500,000.00 |
UNITED BANK OF INDIA |
UNITED BANK OF
INDIA BUILDING, 25, SIR PHEROZ SHA |
B69506921
|
|
6 |
10388076 |
08/11/2012 |
6,668,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD |
RASEC BORIVLI WEST
BRANCH,SHOBHANA APARTMENT, CHANDAVARKAR ROAD, BORIVLI WEST, MUMBAI,
MAHARASHTRA |
B62590161
|
|
7 |
10386104 |
09/10/2012 |
875,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
RASEC, KANCHAN CHAMBERS, KRANTI CHOWK, KRANTI CHOWK, AURANGABAD, MAHARASHTRA - 431005, INDIA |
B61945465
|
|
8 |
10328061 |
13/12/2011 |
1,918,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
RASEC, KANCHAN CHAMBERS,, KRANTI CHOWK, STATION ROAD, AURANGABAD, MAHARASHTRA - 431005, INDIA |
B29474186
|
|
9 |
10325325 |
05/12/2011 |
75,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
'MADHU SHILP', PLOT
NO. 6, C/2, TOWN CENTRE, NEAR CIDCO BUS STAND, CIDCO, AURANGABAD, MAHARASHTRA
|
B28628576
|
|
10 |
10322013 |
14/11/2011 |
585,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
RASEC, KANCHAN CHAMBERS, KRANTI CHOWK, STATION ROAD, AURANGABAD, MAHARASHTRA - 431005, INDIA |
B27364272
|
|
11 |
10323982 |
06/05/2011 |
96,600,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
MADHU SHILP, PLOT
NO. 6, TOWN CENTRE, NEAR CIDCO BUS STAND, CIDCO, AURANGABAD, MAHARASHTRA -
431003 |
B17674821
|
|
12 |
10283326 |
20/04/2011 |
13,700,000.00 |
SARASWAT CO-OPERATIVE BANK LIMITED |
MADHU SHILP, PLOT
NO. 6,TOWN CENTRE, NEAR CIDCO BUS STAND, CIDCO, AURANGABAD, MAHARASHTRA -
43100 |
B11148020
|
|
13 |
10276207 |
16/03/2011 |
50,000,000.00 |
THE SARASWAT CO-OPEARTIVE BANK LTD. |
MADHU SHILP, PLOT NO. 6,TOWN CENTRE, NEAR CIDCO BUS STAND, CIDCO, AURANGABAD, MAHARASHTRA - 431003, INDIA |
B09188947
|
|
14 |
10274485 |
24/02/2011 |
1,710,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
RASEC,KANCHAN CHAMBERS, KRANTI CHOWK, STATION ROAD, AURANGABAD, MAHARASHTRA - 431005, INDIA |
B08570343
|
|
15 |
10273263 |
09/02/2011 |
45,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
AURANGABAD BRANCH, MADHU SHILP, PLOT NO.6, C/2, TOWN CENTRE NEAR CIDCO BUS STAND, CIDCO, AURANGABAD, MAHARASHTRA - 431001, INDIA |
B07192669
|
|
16 |
10245220 |
25/09/2010 |
15,000,000.00 |
THE SARASWAT COOPERATIVE BANK LTD |
AURANGABAD BRANCH, MADHU SHILP, PLOT NO. 6, C/2, TOWN CENTRE NEAR CIDCO BUS STAND, CIDCO, AURANGABAD, MAHARASHTRA - 431001, INDIA |
A96745625
|
|
17 |
10245221 |
25/09/2010 |
35,000,000.00 |
THE SARASWAT COOPERATIVE BANK LTD |
AURANGABAD BRANCH, MADHU SHILP, PLOT NO. 6, C/2, TOWN CENTRE NEAR CIDCO BUS STAND, CIDCO, AURANGABAD, MAHARASHTRA - 431001, INDIA |
A96745823
|
|
18 |
10243142 |
27/08/2010 |
1,270,000.00 |
SARASWAT CO-OPERATIVE BANK LIMITED |
KRANTI CHOWK,
OSMANPURA, AURANGABAD, MAHARASHTRA |
A94127511
|
|
19 |
10243141 |
05/08/2010 |
560,000.00 |
SARASWAT CO-OPERATIVE BANK LIMITED |
KRANTI CHOWK,
OSMANPURA, AURANGABAD, MAHARASHTRA |
A94127669
|
|
20 |
10213430 |
30/03/2010 |
107,400,000.00 |
THE SARASWAT COOPERATIVE BANK LTD |
AURANGABAB BRANCH, MADHU SHILP, PLOT NO. 6, C/2, TOWN CENTRE NEAR CIDCO BUS STAND, CIDCO, AURANGABAD, MAHARASHTRA - 431001, INDIA |
A83699413
|
|
21 |
10211567 |
22/03/2010 |
563,000.00 |
SARASWAT CO-OPERATIVE BANK LIMITED |
KRANTI CHOWK,
OSMANPURA, AURANGABAD, MAHARASHTRA |
A82794694
|
|
22 |
10204249 |
08/02/2010 |
4,590,000.00 |
SARASWAT CO-OPERATIVE BANK LIMITED |
KRANTI CHOWK,
OSMANPURA, AURANGABAD, MAHARASHTRA |
A79855722
|
|
23 |
10196206 |
05/12/2009 |
1,840,000.00 |
SARASWAT CO-OPERATIVE BANK LIMITED |
KRANTI CHOWK,
OSMANPURA, AURANGABAD, MAHARASHTRA |
A76537810
|
|
24 |
10175516 |
12/08/2009 |
1,519,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
KRANTI CHOWK,
OSMANPURA, AURANGABAD, MAHARASHTRA |
A69539948
|
|
25 |
10168736 |
04/07/2009 |
3,800,000.00 |
SARASWAT CO-OPERATIVE BANK LIMITED |
OSMANPURA, KRANTI
CHOWK, AURANGABAD, MAHARASHTRA |
A66655051
|
|
26 |
10165459 |
25/06/2009 |
623,000.00 |
SARASWAT CO-OPERATIVE BANK LIMITED |
NIKADWARI LANE, GIRGAON, MUMBAI, MAHARASHTRA - 400004, INDIA |
A64965619
|
|
27 |
10165457 |
05/06/2009 |
2,000,000.00 |
SARASWAT CO-OPERATIVE BANK LIMITED |
NIKADWARI LANE, GIRGAON, MUMBAI, MAHARASHTRA - 400004, INDIA |
A64962236
|
|
28 |
10123981 |
09/09/2008 |
50,000,000.00 |
SARASWAT CO-OP. BANK LTD |
CIDCO, NEAR CIDCO
BUS STAND, CIDCO, AURANGABAD, |
A46333621
|
|
29 |
10123983 |
09/09/2008 |
40,000,000.00 |
SARASWAT CO-OP. BANK LTD |
CIDCO, NEAR CIDCO
BUS STAND, CIDCO, AURANGABAD, |
A46333605
|
|
30 |
10123984 |
05/09/2008 |
35,000,000.00 |
SARASWAT CO-OP. BANK LTD |
CIDCO, NEAR CIDCO
BUS STAND, CIDCO, AURANGABAD, |
A46333589
|
|
31 |
10085452 |
22/12/2007 |
100,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
PLOT NO. X - 23, WALUJ
INDUSTRIAL AREA, NEAR HOTEL OASIS, WALUJ, AURANGABAD, MAHARASHTRA - 431003, |
A31044738
|
|
32 |
10085904 |
12/12/2007 |
55,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
WALUJ,, AURANGABAD, AURANGABAD, MAHARASHTRA - 431003, INDIA |
A31400054
|
|
33 |
10061070 |
13/07/2007 |
17,500,000.00 |
THE SARASWAT CO-OP BANK LTD |
FORT BRANCH, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A19535772
|
|
34 |
10056121 |
28/05/2007 |
6,000,000.00 |
THE SARASWAT CO-OP BANK LTD |
FORT BRANCH, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A17002346
|
|
35 |
10056122 |
28/05/2007 |
20,000,000.00 |
THE SARASWAT CO-OP BANK LTD |
FORT BRANCH, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A17007113
|
|
36 |
10050795 |
23/03/2007 |
82,500,000.00 |
THE SARASWAT CO-OP BANK LTD |
FORT BRANCH,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A15099815
|
|
37 |
10047102 |
13/03/2007 |
10,500,000.00 |
THE SARASWAT CO-OP BANK LTD |
WALUJ, AURANGABAD, AURANGABAD, MAHARASHTRA - 431005, INDIA |
A13676663
|
|
38 |
10047108 |
13/03/2007 |
23,000,000.00 |
THE SARASWAT CO-OP BANK LTD |
WALUJ, AURANGABAD, AURANGABAD, MAHARASHTRA - 431005, INDIA |
A13675111
|
|
39 |
10047087 |
10/03/2007 |
6,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD |
WALUJ BRANCH, AURANGABAD, MAHARASHTRA - 431005, INDIA |
A13677364
|
|
40 |
10047094 |
10/03/2007 |
24,500,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD |
WALUJ BRANCH, AURANGABAD, MAHARASHTRA - 431005, INDIA |
A13677034
|
|
41 |
10047100 |
10/03/2007 |
7,500,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD |
WALUJ BRANCH, AURANGABAD, MAHARASHTRA - 431005, INDIA |
A13677497
|
|
42 |
10047101 |
13/08/2010 * |
70,000,000.00 |
THE SARASWAT COOPERATIVE BANK LTD |
AURANGABAD BRANCH, MADHU SHILP, PLOT NO. 6, C/2, TOWN CENTRE NEAR CIDCO BUS STAND, CIDCO, AURANGABAD, MAHARASHTRA - 431001, INDIA |
A94738564
|
|
43 |
10047105 |
10/03/2007 |
7,500,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD |
WALUJ BRANCH, AURANGABAD, MAHARASHTRA - 431005, INDIA |
A13678388
|
|
44 |
10047104 |
10/02/2011 * |
15,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
AURANGABAD BRANCH ,
MADHU SHILP,PLOT NO. 6, C/2, |
B07193527
|
|
45 |
10036676 |
30/03/2010 * |
65,000,000.00 |
THE SARASWAT COOPERATIVE BANK LTD |
AURANGABAB BRANCH,
MADHU SHILP, PLOT NO. 6, C/2, |
A83998757
|
|
46 |
10007667 |
29/05/2006 |
1,000,000.00 |
THE SARASWAT CO.OP.BANK LTD. |
WALUJ BRANCH, AURANGABAD, MAHARASHTRA - 430033, INDIA |
A01382746
|
|
47 |
10003158 |
27/04/2006 |
5,000,000.00 |
THE SARASWAT CO-OP BANK LTD |
FORT BRANCH, SAILOR
BLDG, 373/375, D N ROAD, FORT, |
A00650325
|
|
48 |
10003318 |
27/04/2006 |
9,750,000.00 |
THE SARASWAT CO-OP BANK LTD |
FORT BRANCH, SAILOR
BLDG, 373/375, D N ROAD, FORT, |
A00650580
|
|
49 |
10003157 |
16/09/2013 * |
300,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
AURANGABAD BRANCH, MADHU SHILP, PLOT NO.6, C/2, TOWN CENTRE NEAR CIDCO BUS STAND, CIDCO, AURANGABAD, MAHARASHTRA - 431001, INDIA |
B86931961
|
|
50 |
10001974 |
13/08/2010 * |
180,000,000.00 |
THE SARASWAT COOPERATIVE BANK LIMITED |
AURANGABAD BRANCH, MADHU SHILP, PLOT NO.
6, C/2, TOWN CENTRE NEAR CIDCO BUS STAND, CIDCO, AURANGABAD,
MAHARASHTRA - 431001, INDIA |
A94086212 |
* Date of modification charge
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Long term borrowings
|
|
|
|
Term loans from other parties |
209.711 |
122.664 |
|
Loans and advance from related parties |
25.095 |
270.604 |
|
Sales tax deferral |
84.760 |
80.297 |
|
Total |
319.566 |
473.565 |
CHANGE OF ADDRESS
The registered office of the company has been shifted from B-22, MIDC Industrial Area, Valunj, Aurangabad – 431136, Maharashtra, India to the present address w.e.f. 28.01.2007.
CONTINGENT
LIABILITIES (AS ON 31.03.2013)
· Guarantee given by bank on behalf of the company is for Rs. 1.200 Millions
· In respect to Assessment Year 2001-02, there is a IT demand u/s 271 (1) for Rs. 4.361 Millions on the erstwhile Jhaveri Flexi Laminate Private Limited. The company has appealed with the High Court Mumbai.
· In respect of Assessment Year 2003-04, there is a IT demand against assessment u/s 154 of Rs. 1.166 Millions on the erstwhile Jhaveri Flexi Laminate Private Limited. The company had appealed with the Income Tax Appellate Tribunal. Tribunal has passed the order, but revised demand/ refund is awaited.
· In respect to Assessment Year 2005-06, there is a IT demand against assessment u/s 143 (3) of Rs. 2.883 Millions on the erstwhile Jhaveri Flexi Laxminate Private Limited. The company had appealed with the Income Tax Appeallate Tribunal. Tribunal has passed the order, but revised demand/ refund is awaited.
· In respect of Financial Year 2007-08, there is three litigations with Excise department related to Dapada unit involving sum of Rs. 0.814 Millions. Rs. 5.515 Millions and 3.604 Millions. The matter in the Tribunal awaiting final hearing.
· In respect of Financial Year 2008-09, there is a litigation with Excise department related to Dapada unit involving sum of Rs. 0.606 Millions, the matter in the Tribunal awaiting final hearing.
FIXED ASSETS
· Land
· Building
· Plant and Machinery
· Furniture and Fixture
· Vehicles
· Brands/ Trade Mark
· Computer
· Office Equipment
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.63.39 |
|
|
1 |
Rs.96.72 |
|
Euro |
1 |
Rs.75.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
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 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
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 |
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 |
|
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.