MIRA INFORM REPORT
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Report No. : |
304914 |
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Report Date : |
22.01.2015 |
IDENTIFICATION DETAILS
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Name : |
SOMANI ISPAT PRIVATE LIMITED |
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Registered
Office : |
No. 5.2-283/A, Plot No. 9 and 10, 2nd Floor, A.N. Complex,
Hyderaasti, Secunderabad – 500003,
Andhra Pradesh |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
09.06.1992 |
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Com. Reg. No.: |
01-014351 |
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Capital
Investment / Paid-up Capital : |
Rs.31.500 Millions |
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CIN No.: [Company Identification
No.] |
U27109AP1992PTC014351 |
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PAN No.: [Permanent Account No.] |
AABCB4181D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Authorized Dealer of Sail, VSP and Jindal |
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No. of Employees
: |
Information declined by the management |
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) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED BY
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Name : |
Mr. Neeraj Somani |
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Designation : |
Account Department |
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Contact No.: |
91-40-23776827 / 23778375 |
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Date : |
27.01.2014 |
LOCATIONS
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Registered Office : |
No.5.2-283/A, Plot No. 9 and 10, 2nd Floor, A.N. Complex,
Hyderaasti, Secunderabad – 500003,
Andhra Pradesh, India |
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Tel. No.: |
91-40-27542465 |
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Fax No.: |
91-40-23776827 |
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E-Mail : |
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Website : |
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Correspondence Office and Stock Yard : |
11-6-27/1, 2 and 3, Balanagar, Opposite IDPL Factory, Hyderabad
- 500 037, Andhra Pradesh, India |
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Tel. No.: |
91-40-23772411/83757078/23776827/23778375 |
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Fax No.: |
91-40-23776827 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Ashok Kumar Somani |
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Designation : |
Director |
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Address : |
Plot No. 38, Phase II, Paigah Colony, S P Road, Secunderabad – 500003, Andhra Pradesh, India |
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Date of Birth/Age : |
06.07.1966 |
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Date of Appointment : |
09.06.1992 |
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DIN No.: |
00114398 |
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PAN No.: |
AJRPS3694N |
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Name : |
Mr. Sanjay Kumar Somani |
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Designation : |
Director |
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Address : |
Plot No. 38, Phase II, Paigah Colony, S P Road, Secunderabad – 500003, Andhra Pradesh, India |
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Date of Birth/Age : |
22.03.1972 |
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Date of Appointment : |
30.03.1995 |
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DIN No.: |
00650795 |
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PAN No.: |
ABVPS3981L |
KEY EXECUTIVES
|
Name : |
Mr. Neeraj Somani |
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Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
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Names of Shareholders |
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No. of Shares |
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Ashok Kumar Somani |
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47910 |
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Sanjay Kumar Somani |
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28695 |
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Vinay Somani |
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450 |
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Akash Somani |
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2520 |
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Alok Somani |
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450 |
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Sapna Somani |
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25240 |
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Satyanarayan Somani |
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4360 |
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Sudhir Somani |
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28190 |
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Shanthi Devi Somani |
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10220 |
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Anita Somani |
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12925 |
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Rachana Somani |
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600 |
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Neeta Somani |
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11810 |
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Manju Somani |
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750 |
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Somani Products Private Limited, |
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97875 |
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Alok Somani |
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4500 |
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K L Somani and Sons, |
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3000 |
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Satyanarayan Somani HUF |
|
6990 |
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Ashok Kumar Somani HUF |
|
6785 |
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Sudhir Kumar Somani HUF |
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13180 |
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Sanjay Kumar Somani HUF |
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8550 |
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Total |
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315000 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
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Category |
Percentage |
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Bodies corporate |
31.07 |
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Directors or relatives of Directors |
68.93 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Authorized Dealer of Sail, VSP and Jindal |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Information declined by the management |
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Bankers : |
The Karur Vysya Bank Limited, 5-8-363 to 365, 1st Floor, |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Arvind Jain and Associates Chartered Accountanta |
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Address : |
25 TO 29 IInd Floor, Hyderi Complex, Pan Bazar, Ranigunj,
Secunderabad - 500003, |
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PAN No.: |
ACOPJ9666M |
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Associates : |
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CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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400000 |
Equity Shares |
Rs.100/- each |
Rs.40.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
315000 |
Equity Shares |
Rs.100/- each |
Rs.31.500 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 |
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I.
EQUITY
AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
31.500 |
31.500 |
10.000 |
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(b) Reserves & Surplus |
313.553 |
293.907 |
176.302 |
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(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
345.053 |
325.407 |
186.302 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
191.386 |
109.899 |
117.778 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
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(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
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(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
191.386 |
109.899 |
117.778 |
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(4)
Current Liabilities |
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(a) Short
term borrowings |
267.986 |
338.933 |
299.407 |
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(b) Trade
payables |
377.448 |
202.874 |
186.379 |
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(c) Other
current liabilities |
0.000 |
0.015 |
0.000 |
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(d) Short-term
provisions |
13.259 |
15.372 |
11.972 |
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Total Current
Liabilities (4) |
658.693 |
557.194 |
497.758 |
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TOTAL |
1195.132 |
992.500 |
801.838 |
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II.
ASSETS |
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(1) Non-current
assets |
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(a) Fixed
Assets |
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(i)
Tangible assets |
57.631 |
57.667 |
33.266 |
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(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
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(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.828 |
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(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
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(b) Non-current Investments |
0.761 |
0.761 |
0.761 |
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(c) Deferred tax assets (net) |
0.227 |
0.190 |
0.316 |
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(d) Long-term Loan and Advances |
1.186 |
1.572 |
2.874 |
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(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
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Total Non-Current
Assets |
59.805 |
60.190 |
38.045 |
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(2)
Current assets |
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(a)
Current investments |
0.000 |
0.000 |
0.000 |
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(b) Inventories |
467.165 |
380.455 |
220.794 |
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(c) Trade
receivables |
620.596 |
521.609 |
515.445 |
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(d) Cash
and cash equivalents |
1.404 |
0.467 |
1.637 |
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(e)
Short-term loans and advances |
46.162 |
29.779 |
25.917 |
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(f) Other
current assets |
0.000 |
0.000 |
0.000 |
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Total
Current Assets |
1135.327 |
932.310 |
763.793 |
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TOTAL |
1195.132 |
992.500 |
801.838 |
PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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SALES |
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|
4518.151 |
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Other Income |
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TOTAL |
4518.151 |
4301.892 |
4624.526 |
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Less |
EXPENSES |
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Administrative Expenses |
4489.057 |
4273.828 |
4597.450 |
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Advertising Expenses |
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TOTAL |
4489.057 |
4273.828 |
4597.450 |
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PROFIT BEFORE
TAX |
29.094 |
28.064 |
27.076 |
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Less |
TAX |
9.442 |
8.956 |
9.142 |
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PROFIT AFTER TAX |
19.652 |
19.108 |
17.934 |
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Earnings Per
Share (Rs.) |
62.39 |
60.66 |
NA |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.43
|
0.44 |
0.39 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.44
|
2.83 |
3.38 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.09 |
0.15 |
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Debt Equity Ratio (Total Debt /Networth) |
|
1.33
|
1.38 |
2.24 |
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Current Ratio (Current Asset/Current Liability) |
|
1.72
|
1.67 |
1.53 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
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2] |
Locality of the firm |
Yes |
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3] |
Constitutions of the firm |
Yes |
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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 |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
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 |
No |
NOTE
The registered office address has been changed from 5-4-1 to 16,
Distrillery Road, Secundrabad, Andhra Pradesh, India to present address w.e.f
18.01.2012
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long-term
borrowings |
|
|
|
Loans and advances from related parties |
191.386 |
109.899 |
|
Total |
191.386 |
109.899 |
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|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90261885 |
24/11/2011 * |
295,000,000.00 |
THE KARUR VYSYA BANK LIMITED |
5-8-363 TO 365,1ST FLOOR, CHIRAG ALI LANE, ABIDS, HYDERABAD, ANDHRA PRADESH - 500001, INDIA |
B27768720 |
* Date of charge modification
FIXED ASSETS
· Land
· Buildings
· Factory building
· Plant and equipment
· Factory equipments
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer 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.61.61 |
|
|
1 |
Rs.93.49 |
|
Euro |
1 |
Rs.71.38 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.