MIRA INFORM REPORT
|
Report No. : |
330681 |
|
Report Date : |
03.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
VISEN INDUSTRIES LIMITED |
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|
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|
Formerly Known
As : |
VISEN CHEMICALS PRIVATE LIMITED |
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Registered
Office : |
501, Stanford, Plot No. 554, Junction of S V Road, and Juhu Lane, Andheri (West), Mumbai – 400058, Maharashtra |
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Tel No.: |
91-22-66443333 |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
03.09.1985 |
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Com. Reg. No.: |
11-037350 |
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Capital
Investment / Paid-up Capital : |
Rs.348.600 Million |
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CIN No.: [Company Identification
No.] |
U24100MH1985PLC037350 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV10076D |
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PAN No.: [Permanent Account No.] |
AAACV1768K |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Polymer Emulsion, Textile Finishing Agent and Acrylic Co-Polymers. |
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No. of Employees
: |
Information declined by the management |
RATING
& COMMENTS
|
MIRA’s Rating : |
Ba (57) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 6600000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Management of the company has failed to file its latest financial for
the year 2014 with the government department. As per available financial of 2013, financial position of the company
seems to be decent. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered normal for business dealing at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
CARE |
|
Rating |
Long term fund based - Bank facilities: BBB+
(Withdrawn) |
|
Rating Explanation |
Have moderate degree of safety and carry
moderate credit risk. |
|
Date |
03.02.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term non fund based - Bank facilities:
A3+ (Withdrawn) |
|
Rating Explanation |
Have moderate degree of safety and carry
higher credit risk. |
|
Date |
03.02.2014 |
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
31-03-2013.
INFORMATION DECLINED BY
|
Name : |
Mr. Madhuvan |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-66443333 |
|
Date : |
03.07.2015 |
LOCATIONS
|
Registered/
Corporate/ Head Office : |
501, Stanford, Plot No.554, Junction of S V Road, and Juhu
Lane, Andheri (West), Mumbai – 400058, Maharashtra, India |
|
|
Tel. No.: |
91-22-66443333 |
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Fax No.: |
91-22-66443344 |
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E-Mail : |
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|
Website : |
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Location: |
Owned |
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Factory : |
Plot No. 68, 69, 88, B-Nanji Industrial Estate, Village Kharadpada, Silvassa, Dadra and Nagar Haveli-396230, India |
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|
Tel. No.: |
91-260-2651154/ 55/ 56 |
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Telefax No.: |
91-260-2650463 |
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DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Vijayasankaran Sivaraman Nair |
|
Designation : |
Managing director |
|
Address : |
Oberoi Crest CHS, 16th Road, Near Khar gymkhana , Khar, Mumbai-400052, Maharashtra, India |
|
Date of Birth/Age : |
28.11.1955 |
|
Qualification : |
B.Com. |
|
Date of Appointment : |
01.04.2012 |
|
PAN No: |
AABPN2385G |
|
DIN No.: |
00028395 |
|
Name : |
Mr. Ramachandran Theruvara Pandalonda |
|
Designation : |
Whole Time Director |
|
Address : |
B-1202/Runwal Heights, L.B.S. Marg, Mulund (West), Mumbai-400080 |
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Date of Birth/Age : |
15.05.1941 |
|
Date of Appointment : |
01.04.2012 |
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PAN No: |
ADWPR3710M |
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DIN No.: |
00030529 |
|
Name : |
Mr. Ashok Rao |
|
Designation : |
Director |
|
Address : |
3, Ishwar Bhavan, A Road, Churchgate, Mumbai, 400020, Maharashtra, India |
|
Date of Birth/Age : |
13.11.1945 |
|
Qualification : |
B.Com. (Hons.), FCA, ACMA (Lond.) |
|
Date of Appointment : |
25.05.2005 |
|
DIN No.: |
00091222 |
|
Name : |
Mr. Nikhil Mohta |
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Designation : |
Nominee Director |
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Address : |
11 Mohan Apartment, Yari Road, Versova, Andheri (West), Mumbai- 400061, Maharashtra, India |
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Date of Birth/Age : |
26.12.1977 |
|
Date of Appointment : |
02.08.2013 |
|
DIN No.: |
00932030 |
KEY EXECUTIVE
|
Name : |
Mr. Madhuvan |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Equity Shareholders |
No. of Shares |
|
Vijay Nair |
7057428 |
|
Geeta Nair |
1573620 |
|
Visen Marketing Private Limited, India |
1455600 |
|
Ruchirag Investment Private Limited, India |
206480 |
|
Sumitomo Corporation (Asia) Pte Limited, Singapore |
230000 |
|
S Kodapully |
225000 |
|
Arun Mehta |
70424 |
|
Bardarayan Nair |
223600 |
|
Cherry Nair |
7316 |
|
Kamalakshi Amma |
220912 |
|
Anish Nair |
86800 |
|
Maya Nair (Raji Nair) |
4000 |
|
Ragesh Nair |
8000 |
|
Rajeshwari Nair |
368240 |
|
Rajkumari Mehta |
75200 |
|
Ruch Nair |
71316 |
|
Suprabha Nair |
196000 |
|
Thankappan Nair |
255232 |
|
Total |
12335168 |
|
Names of Preference Shareholders |
No. of Shares |
|
First Carlyle Ventures III, Mauritius |
22448980 |
|
Madhava Menon Shankar Narayanan |
56123 |
|
Mahesh Parasuraman |
5613 |
|
Nikhil Mohta |
5613 |
|
Manish Gaur |
5613 |
|
Kapil Modi |
2807 |
|
|
|
|
Total |
22524749 |
AS ON 30.09.2013
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Venture Capital |
0.01 |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
1.86 |
|
Bodies corporate |
13.47 |
|
Directors or relatives of Directors |
84.66 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Polymer Emulsion, Textile Finishing Agent and Acrylic Co-Polymers. |
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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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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
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 Atlanta 1st Floor, Jamnalal, Bajaj Marg, Nariman Point, Mumbai-400021, Maharashtra, India · ICICI Bank Limited ICICI Bank Towers, Bandra Kurla Complex, Mumbai-400051, Maharashtra, India · Standard Chartered Bank Narain Manzil, 23, Barakhamba Road, Delhi - 110001, Delhi, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Deloitte Haskins and Sells Chartered Accountant |
|
Address : |
12, |
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Tel. No.: |
91-22-66679000 |
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Fax No.: |
91-22-66679100 |
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PAN No.: |
AACFD4815A |
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Associates : |
·
Visen Marketing Private Limited |
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Subsidiaries : |
·
Visen Polymer FZE |
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Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives: |
·
Ruchirag Investment Private Limited |
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|
|
|
Related Party: |
·
Visen Industries Lanka (Private) Limited · Visen Overseas Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
37000200 |
Equity Shares |
Rs.10/- each |
Rs.370.002 Million |
|
230000000 |
Preference Shares |
Rs.10/- each |
Rs.230.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs.600.002
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12335273 |
Equity Shares |
Rs.10/- each |
Rs.123.353
Million |
|
22524749 |
Preference Shares |
Rs.10/- each |
Rs.225.247 Million |
|
|
|
|
|
|
|
Total |
|
Rs.348.600 Million |
FINANCIAL DATA
[All figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
348.600 |
348.600 |
129.602 |
|
(b) Reserves & Surplus |
1,945.157 |
1,746.598 |
921.807 |
|
(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) |
2,293.757 |
2,095.198 |
1,051.409 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
465.375 |
512.310 |
273.965 |
|
(b) Deferred tax liabilities (Net) |
22.155 |
19.836 |
22.698 |
|
(c) Other long term
liabilities |
0.680 |
3.029 |
3.030 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
488.210 |
535.175 |
299.693 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
1,168.084 |
1,280.661 |
831.722 |
|
(b) Trade
payables |
1,627.036 |
1,087.264 |
810.088 |
|
(c) Other
current liabilities |
140.642 |
43.088 |
154.340 |
|
(d) Short-term
provisions |
28.215 |
5.275 |
13.237 |
|
Total Current
Liabilities (4) |
2,963.977 |
2,416.288 |
1,809.387 |
|
|
|
|
|
|
TOTAL |
5,745.944 |
5,046.661 |
3,160.489 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
717.565 |
749.664 |
690.141 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
208.885 |
77.731 |
142.485 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
477.317 |
477.831 |
411.154 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
771.801 |
688.574 |
108.723 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2,175.568 |
1,993.800 |
1,352.503 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1,212.507 |
982.883 |
876.973 |
|
(c) Trade
receivables |
1,660.883 |
1,264.273 |
647.504 |
|
(d) Cash
and cash equivalents |
307.309 |
473.698 |
4.188 |
|
(e)
Short-term loans and advances |
351.006 |
318.733 |
277.621 |
|
(f) Other
current assets |
38.671 |
13.274 |
1.700 |
|
Total
Current Assets |
3,570.376 |
3,052.861 |
1,807.986 |
|
|
|
|
|
|
TOTAL |
5,745.944 |
5,046.661 |
3,160.489 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8250.779 |
6280.806 |
5049.455 |
|
|
|
Other Income |
87.102 |
17.175 |
43.489 |
|
|
|
TOTAL (A) |
8337.881 |
6297.981 |
5092.944 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
4482.578 |
3915.483 |
2817.789 |
|
|
|
Purchases of stock-in-trade |
2462.529 |
1419.521 |
1125.936 |
|
|
|
Employee benefit expense |
108.210 |
93.860 |
82.891 |
|
|
|
Other expenses |
722.967 |
579.523 |
610.067 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(75.195) |
(51.741) |
(34.703) |
|
|
|
TOTAL (B) |
7701.089 |
5956.646 |
4601.980 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
636.792 |
341.335 |
490.964 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
224.633 |
211.389 |
118.086 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
412.159 |
129.946 |
372.878 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
78.578 |
78.653 |
78.134 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
333.581 |
51.293 |
294.744 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
115.088 |
6.114 |
92.535 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
218.493 |
45.179 |
202.209 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
818.660 |
785.006 |
582.797 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATION
|
|
|
|
|
|
|
Preference Divided |
5.631 |
4.539 |
0.000 |
|
|
|
DDT |
0.957 |
0.736 |
0.000 |
|
|
|
Transfer to Capital Redemption reserve |
0.000 |
6.250 |
0.000 |
|
|
|
BALANCE CARRIED
TO THE B/S |
1030.565 |
818.660 |
785.006 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
781.834 |
698.218 |
|
|
TOTAL EARNINGS |
NA |
781.834 |
698.218 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
2901.242 |
2348.148 |
|
|
|
Trading Goods |
NA |
0.000 |
1003.586 |
|
|
TOTAL IMPORTS |
NA |
2901.242 |
3351.734 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
17.18 |
3.16 |
15.63 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
81.035 |
3.739 |
136.680 |
|
Cash generated from operations |
|
|
|
KEY
RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.65 |
0.72 |
4.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
7.72 |
5.43 |
9.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.59 |
1.14 |
11.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.02 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.75 |
0.86 |
1.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20 |
1.26 |
1.00 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
129.602 |
348.600 |
348.600 |
|
Reserves & Surplus |
921.807 |
1746.598 |
1945.157 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1051.409 |
2095.198 |
2293.757 |
|
|
|
|
|
|
long-term borrowings |
273.965 |
512.310 |
465.375 |
|
Short term borrowings |
831.722 |
1280.661 |
1168.084 |
|
Current Maturities of
Long-Term Debts |
136.680 |
3.739 |
81.035 |
|
Total
borrowings |
1242.367 |
1796.710 |
1714.494 |
|
Debt/Equity
ratio |
1.182 |
0.858 |
0.747 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
5,049.455 |
6,280.806 |
8,250.779 |
|
|
|
24.386 |
31.365 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
5,049.455 |
6,280.806 |
8,250.779 |
|
Profit |
202.209 |
45.179 |
218.493 |
|
|
4.00% |
0.72% |
2.65% |
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) |
No |
|
16 |
No. of employees |
No |
|
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 |
No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE
The Registered office of the company has been shifted from Premier
House, 6th Floor, 38, Central Road, MIDC, Andheri (East), Mumbai – 400 093,
Maharashtra, India to the present address w.e.f. 01.04.2012.
COMPANY BACKGROUND
Subject a leading manufacturer of polymer emulsions, centers its efforts on delivering premium products to paint, textile, adhesive and construction industries. With a clear vision of becoming the largest supplier of water based polymer emulsions, the Company has been making a persistent effort in improving its products, manufacturing sales and marketing, and supply / logistic activities.
OPERATIONS:
During the year, all the plants have been working smoothly on 3 shift basis. The overall capacity utilization was around 87%.
CHENNAI PROJECT:
Substantial progress has been made. During the year, the Administration building, Finished Goods storage, Raw Material storage, Utility building, Security room, DG room, Engineering store and Control room were substantially completed. Finished Goods and Raw Material tank fabrication work has started and is expected to complete by end of September 2013. Work has started for construction of inside road and the work for the process plant will commence in August 2013.
Company intends to have the plant to be ready by 1st quarter of financial year 2014.
UAE PROJECT:
The production trial runs are expected to commence by end of calendar year 2013 or beginning of calendar year 2014. The external pipeline work is completed and the Company is making all the efforts to complete other pending works to start commercial production by end of calendar year 2013 or beginning of calendar year 2014.
Company has received the sanction letter from Bank of India, London branch and Bank of Baroda, UAE branch to fund the balance of the project cost. Company is in the process of complying the documentation formality and expect to get the disbursement in the August, 2013.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10471354 |
25/02/2014 * |
615,000,000.00 |
AXIS BANK LIMITED |
2ND FLOOR, AXIS
HOUSE, WADIA INTERNATIONAL CENTRE, |
C09419979 |
|
2 |
10361515 |
16/05/2012 |
500,000,000.00 |
ICICI BANK LIMITED |
ICICI BANK TOWERS,
BANDRA KURLA COMPLEX, MUMBAI, |
B41992595 |
|
3 |
10345321 |
26/04/2013 * |
3,250,000,000.00 |
BANK OF INDIA |
NEW DELHI LARGE
CORPORATE BRANCH,, PTI BUILDING, |
B75543710 |
|
4 |
10306276 |
22/03/2014 * |
900,000,000.00 |
AXIS BANK LIMITED |
AXIS BANK LIMITED,
LAW GARDEN ELLISBRIDGE, AHMEDA |
C03047222 |
|
5 |
10130059 |
30/04/2012 * |
300,000,000.00 |
DBS BANK LIMITED |
UPPER GROUND FLOOR,
BIRLA TOWER, 25, BARAKHAMBHA |
B39935879 |
|
6 |
10105070 |
15/11/2011 * |
350,000,000.00 |
STANDARD CHARTERED BANK |
NARAIN MANZIL, 23,
BARAKHAMBA ROAD, DELHI, DELHI |
B27052943 |
|
7 |
10049807 |
01/01/2015 * |
600,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH
II, TOWR 3, 2ND FLR, EQUINOX, B |
C41541152 |
|
8 |
90216309 |
06/03/2002 |
78,000,000.00 |
BANK OF INDIA |
M.D.I. BUILDING;
1ST FLOOR, 28; S.V. ROAD; ANDHER |
- |
|
9 |
90219817 |
19/04/2014 * |
1,300,000,000.00 |
BANK OF INDIA |
ANDHERI LARGE
CORPORATE BRANCH,, 28, S.V.ROAD M.D |
C03697463 |
|
10 |
90219804 |
06/01/2003 * |
70,000,000.00 |
BANK OF INDIA |
M.D.I. BUILDING;
1ST FLOOR, 28; S.V. ROAD; ANDHER |
- |
* Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
Customs Duty demands disputed in appeals relating to material imported based on false certificate of origin received from supplier/ misdeclaration (pending before Custom, Excise and Service Tax Appellate Tribunal (CESTAT)) |
7.422 |
7.422 |
|
Excise demands disputed in appeals relating to dis-allowance of cenvat credit taken on certain exports of goods (pending before Custom, Excise and Service Tax Appellate Tribunal (CESTAT)) |
1.773 |
1.773 |
|
Service tax demands disputed in appeals |
2.771 |
2.771 |
|
Relating to abatement rate considered for service tax on freight (pending before Custom, Excise and Service Tax Appellate Tribunal (CESTAT)) |
7.305 |
7.305 |
|
relating to non-registration as Input Service Distributor (pending before Custom, Excise and Service Tax Appellate Tribunal (CESTAT)) |
7.114 |
7.114 |
|
relating to dis-allowance of credit of service tax on certain expenses (pending before Commissioner of Central Excise and Customs (Appeals) |
173.742 |
48.312 |
|
Note: In respect of the disputed demands, the Company is hopeful of succeeding in appeals And as such does not expect any significant liability to materialize. |
|
|
|
Other Money for which the company is contingently liable Bills of exchange discounted |
332.825 |
20.213 |
FIXED ASSETS
Tangible assets
· Land
· Building
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Computer equipments
· Office equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No 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 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.63.57 |
|
|
1 |
Rs.99.20 |
|
Euro |
1 |
Rs.70.35 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
57 |
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.