MIRA INFORM REPORT

 

 

Report No. :

329714

Report Date :

01.07.2015

 

IDENTIFICATION DETAILS

 

Name :

MICA INDUSTRIES LIMITED

 

 

Registered Office :

A-36, 2nd Floor, Rajouri Garden, Delhi – 110027

Tel. No.:

91-11-46201301

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

07.04.2005

 

 

Com. Reg. No.:

55-134809

 

 

Capital Investment / Paid-up Capital :

Rs. 41.074 Million

 

 

CIN No.:

[Company Identification No.]

U74999DL2005PLC134809

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAECM2486K

 

 

Legal Form :

A Closely Held Public Limited Liability Company.

 

 

Line of Business :

Subject is engaged in the business of manufacturing of Galvanized wire and Trading of other steel products.

 

 

No. of Employees :

450 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (46)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Company was incorporated in 2005 and promoted by Mr. Vinay Gupta, MIL manufactures galvanized iron wires and strips, primarily used by I power cable manufacturing companies. It is establish company having satisfactory track record.

 

The rating take into accounts on the significant improvement in MIL'S financial risk profile, marked moderate scale of operations in the metal wire manufacturing industry, its promoter's extensive industry experience and established relationships with customers, and it’s above average capital structure.

 

These rating strengths are partially offset by the company's large working capital requirements, susceptibility of its profit margins to volatility in raw material prices, and its exposure to intense industry competition.

 

However, trade relations are fair. Business is active. Payment terms are reported to be slow but correct.

 

In view of established track record and experienced promoters, the company can be considered for business dealings at its 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.

 

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 bank facilities: BB+

Rating Explanation

Inadequate credit quality and high credit risk.

Date

June 2015

 

Rating Agency Name

CRISIL

Rating

Short term bank facilities:A4+

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

June 2015

 

Reason for suspension: Absence of requisite information.

 

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 31-03-2013.

 

INFORMATION PARTED BY

 

Name :

Mr. Vinay Gupta

Designation :

Director

Contact No.:

91-9810267047

Date :

30.06.2015

 

 

LOCATIONS

 

Registered Office / Head Office :

A-36, 2nd Floor, Rajouri Garden, Delhi – 110027, India

Tel. No.:

91-11-46201301 / 25918591/92/93

Fax No.:

91-11-25918591-92

E-Mail :

micadelhi@gmail.com

mca2016@gmail.com

abhishek@micaindustries.in

contact@micaindustries.in

queries@micaindustries.in

Website :

www.micaindustries.in 

Location :

Owned

 

 

Factory 1 :

G-1031-1032, Phase III, RIICO Industrial Area, Bhiwadi, District Alwar - 301019, Rajasthan, India

Tel. No.:

91-1493-220506

 

 

Factory 2 :

E-92, Phase II, RIICO Industrial Area, Bhiwadi, District Alwar - 301019, Rajasthan, India

 

 

Factory 3:

Plot No 508-510, Shed No.A1/34-35, Dehgam Road, 100 Shed Area, GIDC, Vapi, Gujarat, India

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Vinay Gupta

Designation :

Director

Address :

B-1/208, Yamuna Vihar, Delhi – 110053, India

Date of Birth/Age :

17.04.1965

Date of Appointment :

07.04.2005

DIN No.:

00088712

PAN No.:

AANPG9661J

Other Directorships:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74999DL2005PLC134809

MICA INDUSTRIES LIMITED

Director

07-04-05

07-04-05

-

Active

NO

2

U31300DL1986PTC025645

SATELLITE CABLES PRIVATE LIMITED

Director

08-03-07

08-03-07

-

Active

NO

3

U27106GJ2009PTC055873

ARVEE WIRES PRIVATE LIMITED

Director

12-01-09

12-01-09

-

Active

NO

 

 

Name :

Mr. Vikas Goel

Designation :

Director

Address :

B-1/208, Yamuna Vihar, Delhi – 110053, India

Date of Birth/Age :

02.07.1969

Date of Appointment :

07.04.2005

DIN No.:

00088733

PAN No.:

AANPG9662M

Other Directorships:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74999DL2005PLC134809

MICA INDUSTRIES LIMITED

Director

07-04-05

07-04-05

-

Active

NO

2

U31300DL1986PTC025645

SATELLITE CABLES PRIVATE LIMITED

Director

08-03-07

08-03-07

-

Active

NO

3

U27106GJ2009PTC055873

ARVEE WIRES PRIVATE LIMITED

Director

12-01-09

12-01-09

-

Active

NO

 

 

Name :

Mr. Vishveshwar Nath Gupta

Designation :

Director

Address :

B-1/208, Yamuna Vihar, Delhi – 110053, India

Date of Birth/Age :

10.07.1938

Date of Appointment :

05.09.2005

DIN No.:

00088792

PAN No.:

AANPG9660K

Other Directorships:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U74999DL2005PLC134809

MICA INDUSTRIES LIMITED

Director

05-09-05

05-09-05

-

Active

NO

2

U31300DL1986PTC025645

SATELLITE CABLES PRIVATE LIMITED

Director

03-09-07

03-09-07

22-03-12

Active

NO

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Vinay Gupta

 

873876

Vikas Goel

 

740374

V.N. Gupta

 

260000

Usha Gupta

 

192000

Veena Gupta

 

6000

Kishan Singh Rawat

 

2000

Vikas Aggarwal

 

2000

Sarbjeet Singh

 

4000

Syrinder Kaur

 

2000

Neeraj Singh Chauhan

 

8000

Ram Kishore

 

4000

Rahul Aggarwal

 

8000

Niranjan Lal

 

4000

Dilip Kumar

 

4000

Amar Singh

 

4000

Umesh Kumar

 

4000

Pradeep Kumar

 

4000

Jagbir Sungh Deewal

 

15000

Vikas Goel and Sons (HUF)

 

211000

Vinay Gupta and Sons

 

203000

Harvinder singh

 

1050

T.P.S. Dhaliwal

 

31360

Ocean Buildtech Private Limited, India

 

1511250

Arrow Equity Private Limited, India

 

2500

Raj K. Mercantile Corporation Limited, India

 

10000

Total

 

4107410

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Bodies corporate

37.10

Directors or relatives of Directors

60.38

Other top fifty shareholders

2.52

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in the business of manufacturing of Galvanized wire and Trading of other steel products.

 

 

Products :

Description of product or service category

ITC code

GI Wire/ Flatted Wire

72172010

ACSR Wire (Mix Sizes) and HC wire

72299023

Other (Short Wire and Scrap)

72044900

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :

Bangladesh

 

 

Imports :

 

Products :

Raw Material

Countries :

China

 

 

Terms :

 

Selling :

Cash and Cheque

 

 

Purchasing :

Cash and Cheque

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

450 (Approximately)

 

 

Bankers :

The Federal Bank Limited, Corporate Banking Branch, E-13-29, Harsha Bhawan, Connaught Place,, New Delhi - 110001, India

 

Deutsche Bank AG, Infernity Tower, Sec-25a, DLF, Phase-Ii, Gurgaon - 122002,

Haryana, India

 

Banker Name

Canara Bank

Branch Address

Overseas Branch, B-39, 1st Floor,

Middle Circle, Connaugh Circus, New Delhi - 110001, India

Person Name (With Designation)

Not Divulged

Contact Number

91-11-23350359

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

The number is continuously ringing

 

 

Banker Name

Dena Bank

Branch Address

M-36, Connaught Place, New Delhi, India

Person Name (With Designation)

Not Divulged

Contact Number

91-11-23415645

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

The number is continuously ringing

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term loans from banks

43.758

94.020

Loans taken for vehicles

2.994

3.092

Other loans and advances, others

18.937

17.680

SHORT TERM BORROWING

 

 

Rupee term loans from banks

149.114

131.401

Rupee term loans from others

41.558

8.735

Working capital loans from banks

341.538

292.717

Total

597.899

547.645

 

Banking Relations :

 

 

 

Financial Institution :

Reliance Capital Limited, "H" Block 1st Floor, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai - 400710, Maharashtra, India

 

 

Auditors :

 

Name :

O. Aggarwal and Company

Chartered Accountants

Address :

H-3/11-A, Krishna Nagar

PAN N Income-tax PAN of auditor or auditor's firm :

AAAFO6019P

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Controlling companies / firms and Individual :

  • K.C. Industries
  • Satellite Cables Private Limited, India [U31300DL1986PTC025645]
  • Ocean Buildtech Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5000000

Equity Shares

Rs.10/- each

Rs. 50.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

4107410

Equity Shares

Rs.10/- each

Rs. 41.074 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

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

41.074

37.974

29.874

(b) Reserves & Surplus

286.170

246.361

196.823

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

24.800

40.500

Total Shareholders’ Funds (1) + (2)

327.244

309.135

267.197

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

182.418

229.431

124.114

(b) Deferred tax liabilities (Net)

24.101

22.762

21.372

(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)

206.519

252.193

145.486

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

532.210

432.853

370.428

(b) Trade payables

392.686

123.648

50.691

(c) Other current liabilities

31.016

34.718

37.283

(d) Short-term provisions

10.155

11.590

9.064

Total Current Liabilities (4)

966.067

602.809

467.466

 

 

 

 

TOTAL

1499.830

1164.137

880.149

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

375.699

369.677

196.363

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

36.133

15.950

1.297

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

35.295

35.208

133.558

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

447.127

420.835

331.218

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

319.437

315.924

244.046

(c) Trade receivables

560.547

254.120

158.132

(d) Cash and cash equivalents

79.913

80.086

88.668

(e) Short-term loans and advances

57.661

49.094

45.261

(f) Other current assets

35.145

44.078

12.824

Total Current Assets

1052.703

743.302

548.931

 

 

 

 

TOTAL

1499.830

1164.137

880.149

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

2309.111

1938.477

1711.607

 

Other Income

30.592

33.171

7.627

 

TOTAL (A)

2339.703

1971.648

1719.234

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

1167.966

1425.054

1212.716

 

Purchases of Stock-in-Trade

726.231

154.923

100.852

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

8.678

(12.428)

3.171

 

Employees benefits expense

33.206

31.038

24.066

 

Other expenses

227.408

213.346

231.053

 

Prior Period Items

0.000

0.000

0.194

 

TOTAL (B)

2163.489

1811.933

1572.052

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

176.214

159.715

147.182

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

130.278

116.138

106.350

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

45.936

43.577

40.832

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

17.691

16.016

13.977

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

28.245

27.561

26.855

 

 

 

 

 

Less

TAX (H)

10.136

10.424

10.770

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

18.109

17.137

16.085

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

4.61

5.15

5.58

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

2700.000

 

Expected Sales (2015-2016) : Rs.3000.000 Million

 

The above information has been parted by Mr. Vinay Gupta

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

0.78

0.88

0.94

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

7.63

8.24

8.60

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.93

2.40

3.06

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.09

0.09

0.10

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.18

2.14

1.85

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.09

1.23

1.17

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

29.874

37.974

41.074

Reserves & Surplus

196.823

246.361

286.170

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

40.500

24.800

0.000

Net worth

267.197

309.135

327.244

 

 

 

 

long-term borrowings

124.114

229.431

182.418

Short term borrowings

370.428

432.853

532.210

Total borrowings

494.542

662.284

714.628

Debt/Equity ratio

1.851

2.142

2.184

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

1711.607

1938.477

2309.111

 

 

13.255

19.120

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

1711.607

1938.477

2309.111

Profit

16.085

17.137

18.109

 

0.94%

0.88%

0.78%

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last four years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

NOTE: Registered office of the company has been shifted from 72, Mandir Marg, Industrial Complex, Haiderpur, New Delhi – 110088, India to the present address w.e.f. 28.03.2008

 

OPERATION AND PROSPECTS

 

i) During the year the company has achieved the total Revenue From Operations of Rs.2309.112 Million as compared to the previous year figure of Rs.1938.477 Million. The total Revenue from Operations increased by Rs.370.635 Million being 19.12 % increase over the last year. The company has proved its performance with present infrastructure which is quite satisfactory as compared to last year ii) This year company has earned Profit before Tax of Rs.28.246 Million in comparison to Rs.27.561 Million during the last year. The total increase in Profit before tax is Rs.0.684 Million. The Directors are very optimistic about the bright future of the company in the coming years.

 

UNSECURED LOAN

 

Particulars

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG TERM BORROWING

 

 

Term loans from banks

36.016

48.757

Intercorporate borrowings

40.894

29.136

Other loans and advances

39.819

36.746

Total

116.729

114.639

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10555178

27/02/2015

275,000,000.00

THE FEDERAL BANK LTD.

CORPORATE BANKING BRANCH,, E-13/29, HARSHA BHAVAN
, CONNAUGHT CIRCUS,, NEW DELHI, DELHI - 110001, INDIA

C46727186

2

10515951

16/06/2014

70,000,000.00

DEUTSCHE BANK AG

ECE HOUSE, 28 KASTURBA GANDHI MARG, NEW DELHI, DELHI - 110001, INDIA

C16068017

3

10459714

23/10/2013

350,000,000.00

THE FEDERAL BANK LTD.

CORPORATE BANKING BRANCH, E-13-29, HARSHA BHAWAN,  CONNAUGHT PLACE,, NEW DELHI, DELHI - 110001, INDIA

B89348122

4

10459735

22/10/2013

40,000,000.00

THE FEDERAL BANK LTD.

CORPORATE BANKING BRANCH, E-13-29, HARSHA BHAWAN,  CONNAUGHT PLACE,, NEW DELHI, DELHI - 110001, INDIA

B89354377

5

10459785

22/10/2013

80,000,000.00

THE FEDERAL BANK LTD.

CORPORATE BANKING BRANCH, E-13-29, HARSHA BHAWAN,  CONNAUGHT PLACE,, NEW DELHI, DELHI - 110001, INDIA

B89347207

6

10459788

22/10/2013

190,000,000.00

THE FEDERAL BANK LTD.

CORPORATE BANKING BRANCH, E-13-29, HARSHA BHAWAN,  CONNAUGHT PLACE,, NEW DELHI, DELHI - 110001, INDIA

B89354096

7

10451544

22/09/2014 *

200,000,000.00

CANARA BANK

OVERSEAS BRANCH, B-39, 1ST FLOOR, MIDDLE CIRCLE, CONNAUGH CIRCUS,, NEW DELHI, DELHI - 110001, INDIA

C29060308

8

10443976

05/08/2013

10,000,000.00

THE FEDERAL BANK LTD.

CORPORATE BANKING BRANCH, E-13-29, HARSHA BHAWAN, CONNAUGHT PLACE,, NEW DELHI, DELHI - 110001, INDIA

B82534637

9

10410337

06/03/2014 *

540,000,000.00

THE FEDERAL BANK LTD.

CORPORATE BANKING BRANCH, E-13-29, HARSHA BHAWAN, CONNAUGHT PLACE,, NEW DELHI, DELHI - 110001, INDIA

B98594328

10

10413683

31/01/2013

46,500,000.00

DEUTSCHE BANK AG

INFERNITY TOWER, SEC-25A, DLF, PHASE-II, GURGAON, HARYANA - 122002, INDIA

B71410625

 

* Date of charge modification

 

 

FIXED ASSETS

 

Tangible assets

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.63.75

UK Pound

1

Rs.100.12

Euro

1

Rs.71.20

 

 

INFORMATION DETAILS

 

Information Gathered by :

MNJ

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

4

--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

 

46

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.