MIRA INFORM REPORT
|
Report No. : |
303505 |
|
Report Date : |
17.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
APEX LABORATORIES PRIVATE LIMITED (w.e.f. 08.04.2008) |
|
|
|
|
Formerly Known
As : |
APEX LABORATORIES LIMITED |
|
|
|
|
Registered
Office : |
3rd Floor,
SIDCO Garment Complex, Guindy, Chennai – 600032, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
15.07.1978 |
|
|
|
|
Com. Reg. No.: |
18-007554 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.13.719
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85195TN1978PTC007554 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA5174G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the manufacturing and selling of pharmaceutical products and neutraceutical branded formulations. |
|
|
|
|
No. of Employees
: |
Not Available [We tried to
confirm the number of employees but no one is ready to part any information
from the company management] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2500000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating takes into consideration established operations and vast
experience of the promoters in the business supported by strong distribution network,
sound financial base and fair liquidity profile of the company. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating=BB+ |
|
Rating Explanation |
Inadequate credit quality and high risk. |
|
Date |
07.01.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating=A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
07.01.2015 |
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
MANAGEMENT NON-COOPERATIVE (TEL. NO.: 91-44-42225000)
LOCATIONS
|
Registered Office : |
3rd Floor,
SIDCO Garment Complex, Guindy, Chennai – 600 032, Tamilnadu, India |
|
Tel. No.: |
91-44-42225000 |
|
Fax No.: |
91-44-42225005 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Factory : |
Shed
No.C-7, S. F. No: 237 / 3A, Industrial Estate, Alathur, Kancheepuram
District, Tamilnadu, India |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Mr. Vanangamudi Sulur Subramaniam |
|
Designation : |
Managing Director |
|
Address : |
No.29, 4th Road, VGP Layout, Injambakkam, Chennai – 600041,
Tamilnadu, India |
|
Date of Birth/Age : |
03.04.1956 |
|
Date of Appointment : |
03.02.1982 |
|
DIN No.: |
00056717 |
|
PAN No.: |
ABPPV7230H |
|
|
|
|
Name : |
Mr.
Thangavelu Mannavan |
|
Designation : |
Director
|
|
Address : |
Old No.10, New No: 16, Panchayat Office Street Sulur, Coimbatore Rural – 641402, Tamilnadu, India |
|
Date of Birth/Age : |
02.06.1962 |
|
Date of Appointment : |
14.05.2014 |
|
DIN No.: |
06870265 |
|
|
|
|
Name : |
Mr.
Karthik Veerabadran |
|
Designation : |
Director |
|
Address : |
New
No.10, Old No. 27, Parameshwari Nagar, 2nd Streeet, Adyar, Chennai – 600020,
Tamilnadu, India |
|
Date of Birth/Age : |
27.12.1949 |
|
Date of Appointment : |
29.07.1978 |
|
PAN No.: |
AHRPK9318F |
|
DIN No.: |
00799996 |
|
|
|
|
Name : |
Mr. Balakrishnan Ramalingam |
|
Designation : |
Director |
|
Address : |
‘VISVAAS’, Old No. 9, New No.19, Singari Street, Mylapore, Chennai –
600004, Tamilnadu, India |
|
Date of Birth/Age : |
20.09.1950 |
|
Date of Appointment : |
29.07.1978 |
|
PAN No.: |
AAMBP0581B |
|
DIN No.: |
00056550 |
|
|
|
|
Name : |
Mr. Maletur Ramachandraiyer Swaminathan |
|
Designation : |
Director |
|
Address : |
Old No.25, New No.66, Southdher Street, Sulur Palladam, Coimbatore –
641402, Tamilnadu, India |
|
Date of Birth/Age : |
12.08.1952 |
|
Date of Appointment : |
03.09.1982 |
|
DIN No.: |
02582810 |
|
|
|
|
Name : |
Sulur Ponmudi Vigneswaran |
|
Designation : |
Whole-time Director |
|
Address : |
10/1A,
S.S.V. Nagar, Kalangal Road, Sulur, Coimbatore – 641402, Tamilnadu, India |
|
Date of Birth/Age : |
11/09/1983 |
|
Date of Appointment : |
01.10.2012 |
|
PAN No.: |
AFNPV1956J |
|
DIN No.: |
02404873 |
|
|
|
|
Name : |
Srinivasan Murali |
|
Designation : |
Director |
|
Address : |
New No.69, AG Block, Third Street, Anna Nagar, Chennai – 600040,
Tamilnadu, India |
|
Date of Birth/Age : |
28.03.1961 |
|
Date of Appointment : |
23.02.2013 |
|
PAN No.: |
AAKPM0048E |
|
DIN No.: |
01812061 |
MAJOR SHAREHOLDERS
AS ON 29.09.2014
|
Names of Shareholders |
No. of Shares |
|
V. Karthick |
6059 |
|
R. Balakrishnan |
6059 |
|
S. S. Vanagamudi |
102920 |
|
S. Thangavelu |
134 |
|
M. R. Swaminathan |
134 |
|
S. S. Bhanumathy |
473 |
|
S. S. Kalaimani |
473 |
|
S Murali |
54 |
|
S. P Kayalvizhi |
2000 |
|
S. P Devi |
2000 |
|
S. P Vijayalaxmi |
2000 |
|
S. P Vigneshwaran |
14875 |
|
S. Madhavan |
1 |
|
K. M. Nagarajan |
1 |
|
M. Radhakrishnan |
1 |
|
K. Sekar |
1 |
|
V. Ashokan |
1 |
|
M. Ganesh |
1 |
|
M. Vimal |
1 |
|
R. Gopinath |
1 |
|
K. Veeraraghavan |
1 |
|
T. Thomas |
1 |
|
A. Gopi |
1 |
|
B. Senthil Kumar |
1 |
|
|
|
|
Total |
137193 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacturing and selling of pharmaceutical products and neutraceutical branded formulations. |
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|
|
|
Products : |
|
|
|
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|
Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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|
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Terms : |
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Selling : |
Not Divulged |
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|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available [We tried to
confirm the number of employees but no one is ready to part any information
from the company management] |
|||||||||||||||||||||||||||
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Bankers : |
·
Bank of India, Cathedral Road Branch, 46
Cathedral Road, Chennai – 600086, Tamilnadu, India ·
State Bank of India, Overseas Branch, No.86,
Rajaji Salai, Chennai – 600001, Tamilnadu, India ·
Standard Chartered Bank, 19, Rajaji Salai,
Chennai – 600001, Tamilnadu, India |
|||||||||||||||||||||||||||
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Facilities : |
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
T.D. Jain and D.I. Sakaria Chartered Accountants |
|
Address : |
No.34, Keshaw Nivas, 3rd
Floor, 1st Main Road, Gandhi Nagar, Bangalore – 560009, Karnataka,
India |
|
PAN No.: |
AAAFO2177L |
|
|
|
|
Membership : |
-- |
|
|
|
|
Parties where
control / significant influence exists (Significant interest entities) : |
· A V Tech Exports Private Limited · Apex Exports Private Limited · Arlab India Private Limited · Vanan Pharma Private Limited |
CAPITAL STRUCTURE
AS ON 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
137193 |
Equity Shares |
Rs.100/- each |
Rs.13.719 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
13.719 |
13.719 |
13.719 |
|
(b) Reserves & Surplus |
853.520 |
674.535 |
505.579 |
|
(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) |
867.239 |
688.254 |
519.298 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
641.441 |
260.699 |
186.068 |
|
(b) Deferred tax liabilities (Net) |
101.894 |
105.180 |
67.863 |
|
(c) Other long term
liabilities |
35.038 |
15.500 |
0.000 |
|
(d) long-term
provisions |
34.492 |
29.505 |
10.970 |
|
Total Non-current
Liabilities (3) |
812.865 |
410.884 |
264.901 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
397.212 |
582.856 |
387.219 |
|
(b) Trade
payables |
331.800 |
284.264 |
107.458 |
|
(c) Other
current liabilities |
382.485 |
351.415 |
347.721 |
|
(d) Short-term
provisions |
24.036 |
23.970 |
22.605 |
|
Total Current
Liabilities (4) |
1135.533 |
1242.505 |
865.003 |
|
|
|
|
|
|
TOTAL |
2815.637 |
2341.643 |
1649.202 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
695.610 |
686.667 |
564.677 |
|
(ii)
Intangible Assets |
6.181 |
5.965 |
3.879 |
|
(iii)
Capital work-in-progress |
584.231 |
240.694 |
74.538 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
250.187 |
250.187 |
250.187 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
357.142 |
513.930 |
302.512 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1893.351 |
1697.443 |
1195.793 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
489.248 |
366.997 |
216.017 |
|
(c) Trade
receivables |
186.821 |
126.602 |
111.676 |
|
(d) Cash
and cash equivalents |
27.359 |
31.422 |
34.704 |
|
(e)
Short-term loans and advances |
199.475 |
99.920 |
71.730 |
|
(f) Other
current assets |
19.383 |
19.259 |
19.282 |
|
Total
Current Assets |
922.286 |
644.200 |
453.409 |
|
|
|
|
|
|
TOTAL |
2815.637 |
2341.643 |
1649.202 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
3223.400 |
2915.163 |
2471.156 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA
|
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
309.353 |
293.701 |
250.593 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
66.011 |
50.739 |
50.389 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
243.342 |
242.962 |
200.204 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
64.292 |
74.006 |
65.194 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
179.050 |
168.956 |
135.010 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of Exports |
165.225 |
127.657 |
122.591 |
|
|
TOTAL EARNINGS |
165.225 |
127.657 |
122.591 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
46.406 |
38.949 |
31.894 |
|
|
|
Capital Goods |
38.619 |
26.448 |
22.549 |
|
|
|
Traded goods, spares and others |
0.068 |
15.273 |
7.966 |
|
|
TOTAL IMPORTS |
85.093 |
80.670 |
62.409 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1304.62 |
1231.52 |
984.09 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
5.55 |
5.80 |
5.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.28 |
13.13 |
15.12 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.35 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.20 |
1.23 |
1.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.81 |
0.52 |
0.52 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
13.719 |
13.719 |
13.719 |
|
Reserves & Surplus |
505.579 |
674.535 |
853.520 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
519.298 |
688.254 |
867.239 |
|
|
|
|
|
|
long-term borrowings |
186.068 |
260.699 |
641.441 |
|
Short term borrowings |
387.219 |
582.856 |
397.212 |
|
Total
borrowings |
573.287 |
843.555 |
1038.653 |
|
Debt/Equity
ratio |
1.104 |
1.226 |
1.198 |
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 |
2471.156 |
2915.163 |
3223.400 |
|
|
|
17.968 |
10.574 |
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
|
2471.156 |
2915.163 |
3223.400 |
|
Profit |
135.010 |
168.956 |
179.050 |
|
|
5.46% |
5.80% |
5.55% |
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 |
No |
|
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 |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE:
The registered office of the company has been shifted from 38/76, C.P.
Ramasamy Road, Alwarpet, Chennai – 600 018, Tamilnadu to the present
address w.e.f. 01.12.2012
CORPORATE INFORMATION
Subject is a Private Limited company domiciled in India and incorporated under provisions of the Companies Act, 1956. Subject is engaged in the manufacturing and selling of pharmaceutical products and neutraceutical branded formulations. Subject caters to both domestic and international markets.
PRODUCTION & SALES
The turnover for the year has registered an increase from Rs.2915.100 Millions for the year ended 31.03.2013 to Rs. 3223.400 Millions during the year ended 31.03.2014. There has been an increase of 10.57% in sales during the year. The Board is confident of achieving better performance in the years to come.
PERFORMANCE
The profit and Loss Account for the year ended 31.03.2014 shows a net profit (before tax) of Rs.243.342 Millions after providing depreciation of Rs. 66.011 Millions. The performance is satisfactory the present market conditions.
LITIGATION
DETAILS:
|
MADRAS HIGH COURT Case
Status : Pending
|
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10524424 |
17/09/2014 |
94,000,000.00 |
FULLERTON INDIA CREDIT COMPANY LIMITED |
3RD FLOOR, OLD NO : 307, NEW NO: 165, MEGH TOWERS, PH ROAD, MADURAVOYAL, CHENNAI, TAMIL NADU - 600095, INDIA |
C27000678 |
|
2 |
10495907 |
29/03/2014 |
9,622,160.00 |
ELECTRONICA FINANCE LIMITED |
128/A, PLOT NO.3, KAILASHCHANDRA APPARTMENTS,, PAUD ROAD, KOTHRUD, PUNE, MAHARASHTRA - 411038, INDIA |
C04824751 |
|
3 |
10475144 |
27/01/2014 |
11,900,000.00 |
ELECTRONICA FINANCE LIMITED |
128/A, PLOT NO.3, KAILASHCHANDRA APPARTMENTS,, PAUD ROAD, KOTHRUD, PUNE, MAHARASHTRA - 411038, INDIA |
B95324455 |
|
4 |
10428970 |
29/05/2013 |
197,735,300.00 |
STANDARD CHARTERED BANK |
19, RAJAJI SALAI, CHENNAI, TAMIL NADU - 600001, INDIA |
B76226588 |
|
5 |
10279094 |
26/03/2013 * |
150,000,000.00 |
STANDARD CHARTERED BANK |
19, RAJAJI SALAI, CHENNAI, TAMIL NADU - 600001, INDIA |
B72032329 |
|
6 |
90289238 |
06/03/2014 * |
815,100,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, NO.86.RAJAJI SALAI, CHENNAI, TAMIL NADU - 600001, INDIA |
B98733892 |
|
7 |
90298331 |
14/03/2013 * |
203,500,000.00 |
BANK OF INDIA |
CHENNAI MID CORPORATE BRANCH, 4TH FLOOR, "TARAPORE TOWERS" 826, ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA |
B73211237 |
*Date of modification Charges
FIXED ASSETS:
Tangible Assets
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Office Equipments
·
Vehicles
·
Computer
Intangible Assets
·
Computer Software
·
Copyrights, Patents and Other Operating Rights
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.61.89 |
|
|
1 |
Rs.93.92 |
|
Euro |
1 |
Rs.72.01 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
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 |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
45 |
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.