MIRA INFORM REPORT
|
Report No. : |
331180 |
|
Report Date : |
09.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
J C T LIMITED |
|
|
|
|
Registered
Office : |
Village Chohal, District Hoshiarpur – 146024, Punjab |
|
Tel. No.: |
91-1882-258780/85 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2015 |
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|
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|
Date of
Incorporation : |
28.10.1946 |
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|
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Com. Reg. No.: |
16-004565 |
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Capital
Investment / Paid-up Capital : |
Rs. 1632.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L17117PB1946PLC004565 |
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|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JLDJ00405G/JLDJ00404F |
|
|
|
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PAN No.: [Permanent Account No.] |
AAACJ6733E |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Engaged in Manufacturing textiles and filament yarn |
|
|
|
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 3100000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated during the year 1946. It
has a moderate track record. For the financial year 2015, the company has weak operational
performance marked by thin profit margin. Further rating is constrain on account of weak financial risk profile
marked leveraged capital structure and strained liquidity position. However, trade relations are reported as fair. Business is active.
Payment terms are slow. In view of leveraged balance sheet profile, the company can be
considered for business dealings with some caution. |
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 bank facilities = “B” |
|
Rating Explanation |
Risk-prone-credit-quality and carries very high credit risk. |
|
Date |
04.05.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities = “A4” |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
04.05.2015 |
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
31-03-2013.
LOCATIONS
|
Registered Office : |
Village Chohal, District Hoshiarpur – 146 024, |
|
Tel. No.: |
91-1882-258780/85 |
|
Fax No.: |
91-1882-258045 |
|
E-Mail.: |
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|
Website |
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|
|
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Corporate Office : |
305-309
|
|
Tel. No.: |
91-11-46290000 |
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Fax No.: |
91-11-28512222 |
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|
|
|
Factory 1 : |
Textiles Plant G T Road,
Phagwara-144401, Punjab, Indias |
|
Tel. No.: |
91-1824-305000-07 |
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Fax No.: |
91-1824-261191/266389 |
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Email: |
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Factory 2: |
Filament Plant Dharamshala Road,
Chohal, Hoshiarpur – 146024, Punjab, India |
|
Tel. No.: |
91-1882-258780 to
258784 |
|
Fax No.: |
91-1882-258059 |
|
Email: |
|
|
|
|
|
Branch office |
K.K. Chambers, Sir
P.T. Marg, P. B. No. 1579, Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-22072842 |
|
Fax No.: |
91-22-22071942 |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr.
Samir Thapar |
|
Designation : |
Vice Chairman and Managing Director |
|
|
|
|
Name : |
Ms
Priya Thapar |
|
Designation : |
Director |
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|
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|
Name : |
Mr.
Gordhan Bhoraj Kathuria |
|
Designation : |
Director
|
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|
Name : |
Mr.
Ajit Kumar Doshi |
|
Designation : |
Director
|
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|
Name : |
Mr.
Chander Mohan Bhanot |
|
Designation : |
Director |
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|
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|
Name : |
Mr.
Suresh Kumar Singhala |
|
Designation : |
Allahabad
Bank Nominee |
KEY EXECUTIVES
|
Name : |
Ms. Nidhi Goel |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. M. P. S. Narang |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2015
|
Category
of Shareholder |
Total No.
of Shares |
Total
Shareholding as a % of Total No. of Shares |
|
(A) Shareholding of Promoter and
Promoter Group |
||
|
|
|
|
|
|
636429 |
0.11 |
|
|
222639445 |
39.99 |
|
|
223275874 |
40.10 |
|
|
|
|
|
Total shareholding of Promoter and
Promoter Group (A) |
223275874 |
40.10 |
|
(B) Public Shareholding |
||
|
|
|
|
|
|
158547 |
0.03 |
|
|
38402523 |
6.90 |
|
|
302244 |
0.05 |
|
|
9667654 |
1.74 |
|
|
59865080 |
10.75 |
|
|
108396048 |
19.47 |
|
|
|
|
|
|
61651237 |
11.07 |
|
|
|
|
|
|
93298043 |
16.76 |
|
|
49634060 |
8.91 |
|
|
20537387 |
3.69 |
|
|
1396455 |
0.25 |
|
|
1191690 |
0.21 |
|
|
9500 |
0.00 |
|
|
17939742 |
3.22 |
|
|
225120727 |
40.43 |
|
Total Public shareholding (B) |
333516775 |
59.90 |
|
Total (A)+(B) |
556792649 |
100.00 |
|
(C) Shares held by Custodians and
against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
556792649 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Engaged in Manufacturing textiles and filament yarn |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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 : |
Not Divulged |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
S.P. Chopra and
Company Chartered
Accountants |
|
Address : |
F-31, |
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Tel. No.: |
91-11-23313495-6-7 |
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Fax No.: |
91-11-23713516 |
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E-Mail : |
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Associates (As on
31.03.2014): |
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CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs. 1632.000
Million
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000000 |
Equity Shares |
Rs.2.50/- each |
Rs.1500.000 Million |
|
5000000 |
Redeemable Preference Shares |
Rs. 100/- each |
Rs. 500.000 |
|
|
Total |
|
Rs. 2000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
556792649 |
Equity Shares |
Rs.2.50/- each |
Rs. 1391.982 Million |
|
2400000 |
Optionally Partially Convertible Preference Shares |
Rs. 100/- each |
Rs. 240.000 Million |
|
|
Total |
|
Rs. 1631.982
Million |
Note:
During the period, the Company alloted 11,59,54,059 equity shares at par @ Rs.2.50 per share aggregating to Rs. 2,89.886 Million to Foreign Currency Convertible Bond holders in settlement of Foreign currency Convertible Bonds (FCCBs) liability of US$ 12.930 million on preferential basis with a lock in period of 1 year. Out of such shares so allotted, 4,41,95,092 equity shares shall be dematerialised on receipt of post allotment listing approval from Bombay Stock Exchange Limited.
In the previous period ended 30.09.2013, the Company alloted 8,17,60,000 equity shares at par @ Rs.2.50 per share aggregating to Rs. 2,04.400 Million (Rs. 1,02.200 Million each to a related Company and to secured lending bankers) on preferential basis with a lock in period of 1 year w.e.f. 30.05.2013 in terms of the Corporate Debt Restructuring (CDR) Scheme.
10,00,000 OPCPS of Rs. 1,00.000 Million are redeemable on 31.12.2016 (date extended from 31.12.2011). 20% of the face value is optionally covertible into equity shares during the currency of OPCPS. They are neither entitled to dividend nor carry any voting right.
14,00,000 OPCPS of Rs. 1,40.000 Million are redeemable on 26.12.2015 (date extended from 26.12.2010) with the option to convert before that the whole amount into equity shares at a rate to be determined and as permissble under the SEBI guidelines. They are neither entitled to dividend nor carry any voting right.
Reconciliation of
Shares Outstanding
|
Particular |
31.03.2014 |
|
|
No. of Shares |
Rs. in Million |
|
|
Equity Shares |
|
|
|
At the beginning of the period Issued, Subscribed and Fully paid up: |
440838590 |
1102.096 |
|
Previous period: |
115954059 |
289.886 |
|
At the end of the period |
556792649 |
1391.982 |
|
OPCPS At the beginning of the period |
2400000 |
240.000 |
|
At the end of the period |
2400000 |
240.000 |
Details of
Shareholders holding more than 5% shares:
|
Particular |
31.03.2014 |
|
|
No. of Shares |
%held |
|
|
Equity Shares |
|
|
|
Provestment Securities Private Limited |
132094334 |
23.72 |
|
KCT Textiles Limited |
90545111 |
16.26 |
|
ELM Park Fund Limited, Mauritius |
53819225 |
9.67 |
|
Musk Holdings Limited, Mauritius |
44195092 |
7.94 |
|
OPCPS Provestment Securities Private Limited |
1000000 |
41.67 |
|
Alport Limited |
1400000 |
58.33 |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2015 |
31.03.2014 (6 Months) |
30.09.2013 (18 Months) |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1632.000 |
1631.982 |
1342.096 |
|
(b) Reserves & Surplus |
(530.100) |
(611.401) |
(1323.409) |
|
(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) |
1101.900 |
1020.581 |
18.687 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1208.500 |
1726.507 |
1856.253 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
233.300 |
240.373 |
242.230 |
|
(d) long-term provisions |
460.700 |
383.605 |
389.054 |
|
Total
Non-current Liabilities (3) |
1902.500 |
2350.485 |
2487.537 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
746.700 |
517.676 |
510.857 |
|
(b) Trade payables |
1257.800 |
1271.195 |
1015.076 |
|
(c) Other current liabilities |
2073.900 |
1850.057 |
2894.851 |
|
(d) Short-term provisions |
44.500 |
65.580 |
58.116 |
|
Total
Current Liabilities (4) |
4122.900 |
3704.508 |
4478.900 |
|
|
|
|
|
|
TOTAL |
7127.300 |
7075.574 |
6985.124 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3894.600 |
3970.505 |
4129.803 |
|
(ii) Intangible Assets |
0.000 |
5.544 |
7.116 |
|
(iii) Capital work-in-progress |
0.000 |
44.634 |
24.668 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
366.800 |
366.898 |
279.052 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
54.000 |
68.862 |
70.099 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
4315.400 |
4456.443 |
4510.738 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
103.666 |
|
(b) Inventories |
1478.300 |
1360.626 |
1180.142 |
|
(c) Trade receivables |
807.100 |
672.318 |
565.210 |
|
(d) Cash and cash equivalents |
140.500 |
65.507 |
131.860 |
|
(e) Short-term loans and
advances |
257.200 |
355.492 |
346.965 |
|
(f) Other current assets |
128.800 |
165.188 |
146.543 |
|
Total
Current Assets |
2811.900 |
2619.131 |
2474.386 |
|
|
|
|
|
|
TOTAL |
7127.300 |
7075.574 |
6985.124 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 (6 Months) |
30.09.2013 (18 Months) |
|
|
SALES |
|
|
|
|
|
Income |
9816.400 |
4722.584 |
12679.741 |
|
|
Other Income |
77.700 |
48.228 |
163.589 |
|
|
TOTAL
(A) |
9894.100 |
4770.812 |
12843.330 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
5548.200 |
2768.409 |
7108.979 |
|
|
Purchases of Stock-in-Trade |
0.000 |
857.842 |
2619.807 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(78.700) |
(130.207) |
100.239 |
|
|
Employees benefits expense |
1214.200 |
552.062 |
1443.874 |
|
|
Other expenses |
1012.600 |
356.231 |
941.725 |
|
|
Exceptional Items |
10.200 |
0.000 |
162.200 |
|
|
Power and Fuel |
1487.400 |
0.000 |
0.000 |
|
|
TOTAL
(B) |
9193.900 |
4404.337 |
12214.624 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
700.200 |
366.475 |
628.706 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
336.600 |
170.621 |
529.473 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
363.600 |
195.854 |
99.233 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
275.800 |
165.649 |
739.160 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
87.800 |
30.205 |
(639.927) |
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
(8.279) |
8.200 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
87.800 |
38.484 |
(648.127) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
NA |
496.064 |
1601.881 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
80.134 |
226.677 |
|
|
Components and Stores parts |
NA |
34.727 |
149.763 |
|
|
Capital Goods |
NA |
0.015 |
8.926 |
|
|
TOTAL
IMPORTS |
NA |
114.876 |
385.366 |
|
|
|
|
|
|
|
|
Earning/(Loss) per share
before exceptional items |
|
|
|
|
|
- Basic |
0.16 |
0.07 |
(1.72) |
|
|
- Diluted |
0.14 |
0.06 |
(1.47) |
|
|
|
|
|
|
|
|
Earning/(Loss) per
share after exceptional items |
|
|
|
|
|
- Basic |
0.16 |
0.07 |
(2.32) |
|
|
- Diluted |
0.14 |
0.06 |
(1.99) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
1206.574 |
2186.317 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net Cash Inflow from Operating Activities |
NA |
(769.008) |
546.677) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 (6 Months) |
30.09.2013 (18 Months) |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.89 |
0.81 |
-5.11 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
7.13 |
7.76 |
4.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.30 |
0.45 |
-9.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.03 |
-34.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.77 |
2.20 |
126.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.68 |
0.71 |
0.55 |
STOCK
PRICES
|
Face Value |
Rs.2.50 |
|
Market Value |
Rs.3.45 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
1342.096 |
1631.982 |
1632.000 |
|
Reserves & Surplus |
(1323.409) |
(611.401) |
(530.100) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
18.687 |
1020.581 |
1101.900 |
|
|
|
|
|
|
long-term borrowings |
1856.253 |
1726.507 |
1208.500 |
|
Short term borrowings |
510.857 |
517.676 |
746.700 |
|
Total
borrowings |
2367.110 |
2244.183 |
1955.200 |
|
Debt/Equity
ratio |
126.671 |
2.199 |
1.774 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
12679.741 |
4722.584 |
9816.400 |
|
|
|
(62.755) |
107.861 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
12679.741 |
4722.584 |
9816.400 |
|
Profit |
(648.127) |
38.484 |
87.800 |
|
|
(5.11%) |
0.81% |
0.89% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
Yes |
|
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 |
Yes |
|
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 |
OPERATIONS (As on 31.03.2014)
The Textile Division at Phagwara operated at an average of 95% of the installed capacity and produced 21.455 Million meters of fabrics during the six months period ended 31st March 2014. Though the capacity utilisation has improved during the period but the capacities have not been utilized to its optimum level because of shortage of working capital funds. The performance improved substantially in terms of turnover and margins despite increased raw material cost.
The company has since expanded its customer base and has gone deeper with the existing customers to fully secure its production. Marketing strategy has been changing with the time and there has been a shift in product mix accordingly. The company has adopted a strategy of covering cotton to have minimum risk.
There has no operation in Sriganganagar since operations have been discontinued in earlier years. Some administrative expenses have been incurred over there to look after the land there.
Filament Unit continues to maintain its position as one of the largest manufacturer of textile grade nylon yarn in India with installed capacity of 14000 MTS. During the period the unit produced 6464 MT of filament yarn with average denier of 36.9.
The company has been changing its in product mix on the basis of dependability on yarn sold in Surat market has been shifted to yarn being sold in Amritsar & Mau markets. In view of LOY base 20 Mono Yarn is less prone to market fluctuations and has a much higher margin. To save on power cost the unit has installed CHS.
VIEW INDEX OF
CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10062854 |
26/09/2009 * |
250,000,000.00 |
STATE BANK OF PATIALA |
G T ROAD, PHAGWARA, Punjab - 144401, INDIA |
A70950688 |
|
2 |
10058869 |
26/09/2009 * |
350,000,000.00 |
PUNJAB NATIONAL BANK |
74 JANPATH, NEW DELHI, Delhi - 110001, INDIA |
A71494082 |
|
3 |
10020686 |
16/09/2009 * |
730,000,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE
BRANCH, 17, PARLIAMENT STREET, |
A70827712 |
|
4 |
80011655 |
18/06/2011 * |
1,250,851,000.00 |
ALLHABAD BANK |
INDUSTRIAL FINANCE BRANCH, 1ST FLOOR, 17, PARLIAMENT STREET, NEW DELHI, Delhi - 110001, INDIA |
B16845554 |
|
5 |
80011651 |
03/10/2005 |
8,844,000.00 |
PUNJAB AND SIND BANK |
H BLOCK, CONNAUGHT CIRCUS, NEW DELHI, Delhi - 110001, INDIA |
- |
|
6 |
80011656 |
16/09/2009 * |
58,400,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE
BRANCH, 17, PARLIAMENT STREET, |
A70828165 |
|
7 |
90170035 |
26/09/2009 * |
54,200,000.00 |
PUNJAB NATIONAL BANK |
74, JANPATH, NEW DELHI, Delhi - 110001, INDIA |
A71493779 |
|
8 |
80011657 |
30/10/2009 * |
500,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH,
WORLD TRADE TOWER, CUFFE PARADE, |
A72204373 |
|
9 |
90170874 |
04/09/2009 * |
1,737,700,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE
BRANCH, 17, PARLIAMENT STREET, |
A69493062 |
|
10 |
90172398 |
19/10/2006 * |
1,409,000,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE
BRANCH, PARLIAMENT STREET, NEW |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Fixed Deposits from Public |
|
37.146 |
|
Interest free loan from a related company |
|
57.800 |
|
SHORT TERM
BORROWINGS |
|
|
|
Book Overdraft |
|
49.242 |
|
Total |
NA |
144.188 |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2015 (Rs.
In Million) |
31.03.2014 (Rs.
In Million) |
|
(a) Claims against the Company not acknowledged as debts |
|
7.687 |
|
(b) Guarantees given by the bankers on behalf of the Company |
|
28.492 |
|
(c) Unutilised letter of credit |
|
0.000 |
|
(d) Disputed liabilities not adjusted as expenses in the Accounts for various years being in appeals towards: |
|
|
|
- Sales tax |
|
124.148 |
|
- Excise Duty |
|
420.770 |
|
- Stamp Duty |
|
18.772 |
|
- Custom Duty |
|
18.605 |
|
- Entry Tax |
|
193.414 |
|
- Others |
|
21.704 |
|
Total |
NA |
797.413 |
FIXED ASSETS
- Land
- Building
- Plant and Machinery
- Data Processing Equipment
- Electric Installations
- Including Gadgets
- Tools and Implements
- Furniture and Fixtures
- Office Equipment
- Vehicles
- Scrap
- Computer Software
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.63.57 |
|
|
1 |
Rs.98.22 |
|
Euro |
1 |
Rs.69.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.