MIRA INFORM REPORT
|
Report No. : |
302423 |
|
Report Date : |
13.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
PLASTENE INDIA LIMITED [w.e.f.02.01.2007] |
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|
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Formerly Known
As : |
OSWAL AGLOIMPEX LIMITED [w.e.f.24.05.2006] OSWAL AGLOIMPEX PRIVATE LIMITED |
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Registered
Office : |
H.B. Jirawala House, 13, Nav Bharat Society, Near Panchsheel Bus Stop,
Usmanpura, Ahmedabad – 380013, Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 (Profit & Loss Account) |
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Date of
Incorporation : |
16.10.1998 |
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Com. Reg. No.: |
04-034861 |
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Capital
Investment / Paid-up Capital : |
Rs. 265.932 Millions |
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|
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CIN No.: [Company Identification
No.] |
U25209GJ1998PLC034861 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACO3087C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Plastic Products consisting of all types
of Plastic Fabrics and Bags. |
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|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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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 moderate track record. The rating is constrained on account of company’s moderate financial
risk profile and low profitability margins of the company. 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. NOTE: Balance Sheet Statement for the year 2014 could not be made available
from any source. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
29.01.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
29.01.2014 |
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 : |
Mr. Anil Goel |
|
Contact No.: |
91-9879333000 |
|
Date : |
09.01.2015 |
LOCATIONS
|
Registered Office : |
H.B. Jirawala House, 13, Nav Bharat Society, Near Panchsheel Bus Stop,
Usmanpura, Ahmedabad – 380013, Gujarat, India |
|
Tel. No.: |
91-79-27550764 |
|
Mobile No.: |
91-9879333000 [Mr. Anil Goel] |
|
Fax No.: |
91-79-27551764 |
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E-Mail : |
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Website : |
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Factory 1 : |
Survey No.317/1, Nani Chirai, Kutch – 370140, Gujarat, India |
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Location : |
Owned |
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Factory 2 : |
Survey No.1551 and 1552/1, Village Rajpur, Ahmedabad Mehsana Highway No.8., Taluka Kadi, District Mehsana – 382715, Gujarat, India |
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Gandhidham Office : |
D-93, Jhanda Chowk, Gandhidham - 370201, Gujarat, India |
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Tel. No.: |
91-2836-226629 |
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Fax No.: |
91-2836-236872 |
DIRECTORS
AS ON 26.09.2014
|
Name : |
Mr. Prakashkumar Hiralal Parekh |
|
Designation : |
Managing director |
|
Address : |
7/B, Sumati Nagar Society, Usmanpura,, Ahmedabad - 380013, Gujarat, India |
|
Date of Birth/Age : |
26.09.1973 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
08.09.2004 |
|
PAN No.: |
ADAPP3077D |
|
DIN No.: |
00158264 |
|
|
|
|
Name : |
Mr. Chetankumar Shantilal Parekh |
|
Designation : |
Additional director |
|
Address : |
Plot No 183, Sector 4, Gandhidham - 370201, Gujarat, India |
|
Date of Birth/Age : |
30.01.1982 |
|
Date of Appointment : |
10.06.2014 |
|
DIN No.: |
00159465 |
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|
|
|
Name : |
Mr. Parvesh Chander Suri |
|
Designation : |
Director |
|
Address : |
A-3, Navroj Appartments, Dafnala Shahibaug, Ahmedabad - 380004, Gujarat, India |
|
Date of Birth/Age : |
31.12.1942 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
12.11.2007 |
|
DIN No.: |
01861687 |
KEY EXECUTIVES
|
Name : |
Ms. Nisha Abhishek Jha |
|
Designation : |
Secretary |
|
Address : |
1/9, North View Society, Near New Passport Office, Ahmedabad, Gujarat,
India |
|
Date of Birth/Age : |
11.12.1985 |
|
Date of Appointment : |
01.05.2013 |
|
PAN No.: |
AOUPJ0311B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2014
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 26.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
0.09 |
|
Bodies
corporate |
53.99 |
|
Directors
or relatives of directors |
43.40 |
|
Other
top fifty shareholders |
2.52 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Plastic Products consisting of all types
of Plastic Fabrics and Bags. |
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Products/ Services : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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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 31.03.2014)
|
PARTICULARS |
Unit |
Installed
Capacity |
Actual
Production |
|
Jumbo Bags |
M.T. |
13000 |
9746 |
|
Plastic Woven Fabric/Bags |
M.T. |
25200 |
9057 |
|
Plastic Multilayer Film/Bags |
M.T. |
6000 |
2144 |
|
Filler, Master Batch, Webbing Multi Filament Yarn |
M.T. |
7000 |
3943 |
|
|
|
|
|
|
Total |
|
51200 |
24890 |
Licensed Capacity: No licence is required for plastic woven and multilayer products.
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
· State Bank of Patiala Mid Corporate Branch, Navrangpura, Ahmedabad - 380009, Gujarat, India · HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India · Bank of Baroda Corporate Financial Services Branch Baroda, 1 Floor, Opposite Petrol Pump, R.C Dutt Road, Alkapuri, Baroda - 390007, Gujarat, India · State Bank of India Industrial Finance Branch, 1st Floor, Neptune Tower Annex,
Ashram Road, Ahmedabad - 380009, Gujarat, India |
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Facilities : |
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Banking Relations
: |
-- |
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Financial Institution : |
· PNB Investment Services Limited Motor Sales and Services Building, Near RBI Ashram Road, Ahmedabad, Gujarat - 380009, India |
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Auditors : |
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|
Name : |
Vinay Kumbhat and Associates Chartered Accountants |
|
Address : |
Ahmedabad, Gujarat, India |
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Income-tax
PAN of auditor or auditor's firm : |
ANHPK6541Q |
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Subsidiary
Company : |
Oswal Extrusion Limited [U25200GJ2004PLC045239] |
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Associates : |
· Parekh Polymers · Plasto Processors · YMP Machineries Private Limited · Oswal Timber Industries · Plastene Infrastructure Limited · Plastene Polyfilms Limited · K. P. Woven Private Limited · Oliva Garden |
CAPITAL STRUCTURE
AS ON 26.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
36,100,000 |
Equity Shares |
Rs. 10/- each |
Rs. 361.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26,593,189 |
Equity Shares |
Rs. 10/- each |
Rs. 265.932 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 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
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|
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(a) Share Capital |
|
265.932 |
252.485 |
|
(b) Reserves & Surplus |
|
779.534 |
669.427 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
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|
|
|
|
|
(2) Share
Application money pending allotment |
|
16.800 |
10.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
1062.266 |
931.912 |
|
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
268.900 |
155.140 |
|
(b) Deferred tax liabilities (Net) |
|
140.605 |
135.010 |
|
(c)
Other long term liabilities |
|
81.291 |
143.457 |
|
(d)
long-term provisions |
|
6.685 |
5.099 |
|
Total
Non-current Liabilities (3) |
|
497.481 |
438.706 |
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(4) Current Liabilities |
|
|
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(a)
Short term borrowings |
|
1213.759 |
903.733 |
|
(b)
Trade payables |
|
1228.475 |
1060.130 |
|
(c)
Other current liabilities |
|
127.484 |
72.247 |
|
(d)
Short-term provisions |
|
3.158 |
15.175 |
|
Total
Current Liabilities (4) |
|
2572.876 |
2051.285 |
|
|
|
|
|
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TOTAL |
|
4132.623 |
3421.903 |
|
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|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
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(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
1176.170 |
1073.418 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
103.130 |
179.935 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
181.291 |
61.291 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
|
51.023 |
85.200 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
1511.614 |
1399.844 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
10.179 |
11.679 |
|
(b)
Inventories |
|
1025.325 |
858.368 |
|
(c)
Trade receivables |
|
829.308 |
607.123 |
|
(d)
Cash and cash equivalents |
|
163.408 |
149.855 |
|
(e)
Short-term loans and advances |
|
542.960 |
384.664 |
|
(f)
Other current assets |
|
49.829 |
10.370 |
|
Total
Current Assets |
|
2621.009 |
2022.059 |
|
|
|
|
|
|
TOTAL |
|
4132.623 |
3421.903 |
NOTE:
Balance Sheet Statement for the year 2014 is not available, only Profit
and Loss Account for the year 2014 is available.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
5380.229 |
4393.545 |
3680.247 |
|
|
|
Other Income |
11.075 |
4.813 |
67.768 |
|
|
|
TOTAL |
5391.304 |
4398.358 |
3748.015 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
2496.896 |
2310.349 |
2237.077 |
|
|
|
Purchases of Stock-in-Trade |
1683.614 |
1113.549 |
517.585 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(61.945) |
(183.053) |
(52.603) |
|
|
|
Employees benefits expense |
164.394 |
158.200 |
139.667 |
|
|
|
Other expenses |
484.514 |
569.492 |
478.328 |
|
|
|
TOTAL |
4767.473 |
3968.537 |
3320.054 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
623.831 |
429.821 |
427.961 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
360.674 |
223.149 |
287.215 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
263.157 |
206.672 |
140.746 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
209.587 |
191.063 |
64.615 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD
ITEMS |
0.000 |
0.546 |
0.844 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
53.570 |
15.063 |
75.287 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
18.274 |
7.474 |
32.672 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
35.296 |
7.589 |
42.615 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings [FOB Basis] |
1582.340 |
1266.893 |
863.611 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
262.179 |
648.243 |
593.701 |
|
|
|
Components & Spare Parts |
3.821 |
0.441 |
4.283 |
|
|
|
Capital Goods |
0.000 |
0.066 |
0.000 |
|
|
TOTAL IMPORTS |
266.000 |
648.750 |
597.984 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
-- |
0.38 |
1.92 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.66 |
0.17 |
1.16 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
11.59 |
9.78 |
11.63 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
0.39 |
2.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.01 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
NA
|
1.40 |
1.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
1.02 |
0.99 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
252.485 |
265.932 |
|
Reserves & Surplus |
669.427 |
779.534 |
|
Share Application money pending allotment |
10.000 |
16.800 |
|
Net
worth |
931.912 |
1062.266 |
|
|
|
|
|
Long-term borrowings |
155.140 |
268.900 |
|
Short term borrowings |
903.733 |
1213.759 |
|
Total
borrowings |
1058.873 |
1482.659 |
|
Debt/Equity ratio |
1.136 |
1.396 |
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 |
3680.247 |
4393.545 |
5380.229 |
|
|
|
19.382 |
22.458 |
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 |
3680.247 |
4393.545 |
5380.229 |
|
Profit |
42.615 |
7.589 |
35.296 |
|
|
1.16% |
0.17% |
0.66% |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
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 |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10531822 |
31/10/2014 |
965,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL FINANCE
BRANCH,1ST FLOOR ISCON ELEGANCE, NEAR SHAPAT V, S.G HIGHWAY, AHMEDABAD,
GUJARAT - 380015, INDIA |
C33956210 |
|
2 |
10461106 |
19/11/2013 |
1,910,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B89906986 |
|
3 |
10453617 |
19/09/2013 |
50,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, 1ST FLOOR, NEPTUNE TOWER, |
B86901378 |
|
4 |
10443222 |
08/07/2013 |
40,000,000.00 |
MAGMA FINCORP
LIMITED |
MAGMA HOUSE, 24
PARK STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
B81972606 |
|
5 |
10403777 |
19/01/2013 |
100,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, 1ST FLOOR, NEPTUNE TOWER ANNEX, ASHRAM ROAD, AHMEDABAD,
GUJARAT - 380009, INDIA |
B68316751 |
|
6 |
10351436 |
25/04/2012 |
150,000,000.00 |
EXPORT-IMPORT BANK
OF INDIA |
CENTRE ONE
BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI,
MAHARASHTRA - 400005, INDIA |
B38097648 |
|
7 |
10347902 |
26/03/2012 |
666,100,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL FINANCE
BRANCH, 1ST FLOOR, NEPTUNE TOWER ANNEX, ASHRAM ROAD, AHMEDABAD, GUJARAT -
380006, INDIA |
B37060563 |
|
8 |
10212246 |
04/03/2010 |
253,100,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL FINANCE
BRANCH, GUJARAT BHAVAN, OPP. M J LIBRARY, ELLISBRIDGE, AHMEDABAD, GUJARAT -
380006, INDIA |
A82799107 |
|
9 |
10090762 |
04/02/2008 |
693,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A33781097 |
|
10 |
90104323 |
07/02/2014 * |
2,640,000,000.00 |
PNB INVESTMENT
SERVICES LIMITED |
MOTOR SALES
& SERVICES BUILDING, NR RBI ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA |
B97472989 |
|
11 |
90105465 |
07/02/2014 * |
2,640,000,000.00 |
PNB INVESTMENT
SERVICES LIMITED - SECURITY TRUSTEE |
MOTOR SALES
& SERVICES BUILDING, NR RBI ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009,
INDIA |
B97473029 |
|
12 |
80013000 |
12/01/2006 * |
365,000,000.00 |
SBS SBINDORE |
GANDHIDHAM,
GANDHIDHAM, GUJARAT - 370201, INDIA |
- |
|
13 |
80013002 |
12/01/2006 * |
365,000,000.00 |
SBS SB INDORE |
GANDHIDHAM,
GANDHIDHAM, GUJARAT - 370201, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Factory equipments
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Other equipments
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. 62.16 |
|
|
1 |
Rs. 94.28 |
|
Euro |
1 |
Rs. 73.73 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.