MIRA INFORM REPORT
|
Report No. : |
332024 |
|
Report Date : |
16.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
SPENTEX INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
A-60, Okhla Industrial Area, Phase II, New Delhi – 110 020 |
|
Tel. No.: |
91-11-26387738 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 (Profit & Loss A/c) |
|
|
|
|
Date of
Incorporation : |
25.11.1991 |
|
|
|
|
Com. Reg. No.: |
55-138153 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.897.720 million (As on 31.03.2014) |
|
|
|
|
CIN No.: [Company Identification
No.] |
L74899DL1991PLC138153 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS4997E |
|
|
|
|
Legal Form : |
Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Textiles. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Sick Company |
|
|
|
|
Payment Behaviour : |
Slow and delayed |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
The subject company is declared as a sick unit by Board for Industrial and Financial Reconstruction. The management has register case (Case No.33/2013) with Board for Industrial and Financial Reconstruction under section 3 (1) (0) of sick industrial companies act 1985. The order on which for approval for rehabilitation proposal is pending. Business is active. Payment terms are slow and delayed. The company can be considered for business dealing on a fully secured trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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: D |
|
Rating Explanation |
Have lowest credit quality very low prospects of recovery. |
|
Date |
29.04.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities: D |
|
Rating Explanation |
Have instruments with the rating are in default or expected to be in default on maturity. |
|
Date |
29.04.2015 |
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.
INFORMATION DECLINED BY
|
Name : |
Mr. Abhishek |
|
Designation : |
Senior Executive - Finance |
|
Contact No.: |
91-11-26387738 |
|
Date : |
13.07.2015 |
LOCATIONS
|
Registered Office : |
A-60, Okhla
Industrial Area, Phase II, New Delhi – 110 020, India |
|
Tel. No. : |
91-11-26387738/ 41614999/
46598900 |
|
Fax No. : |
91-11-26385181 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
B-1,
MIDC, Chincholi – Kondi, District Solapur – 413 255, Maharashtra, India |
|
|
|
|
Factory 2 : |
D-48,
MIDC, Baramati, District Pune – 413 133, Maharashtra, India |
|
|
|
|
Factory 3 : |
51-A, Industrial Area,
Sector-III, Pithampur, District Dhar – 454 774, Madhya Pradesh, India |
|
|
|
|
Factory 4 : |
31-A,
MIDC Industrial Area, Butibori, Nagpur – 441 122, Maharashtra, India |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Ajay Kumar Choudhary |
|
Designation : |
Chairman |
|
Date of Birth/ Age
: |
67 Years |
|
Qualification : |
Commerce Graduate |
|
Date of Appointment : |
05.05.2004 |
|
|
|
|
Name : |
Mr. Mukund Choudhary |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Kapil Choudhary |
|
Designation : |
Deputy Managing Director |
|
Date of Birth/ Age
: |
42 Years |
|
Qualification : |
Commerce Graduate |
|
Date of Appointment : |
05.05.2004 |
|
|
|
|
Name : |
Mr. Amrit Agrawal |
|
Designation : |
Director Finance |
|
|
|
|
Name : |
Mr. Sitaram Parthasarathy |
|
Designation : |
Director Works |
|
Date of Birth/ Age
: |
54 Years |
|
Date of Appointment : |
12.05.2004 |
|
|
|
|
Name : |
Mr. Deepak Diwan |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. Prem Malik |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. Ram Kumar Thapliyal |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. Shyamal Ghosh |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. Dhananjaya Prasad Singh |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. Rajeev Kalra |
|
Designation : |
Nominee CVCI |
|
|
|
|
Name : |
Kamal
Kapur |
|
Designation : |
Additional
Director |
KEY EXECUTIVES
|
Name : |
Mr.
Sharat Kumar Gupta |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
Ranjan Mangtani |
|
Designation : |
Senior Vice President Corporate and Legal Affairs
and Company Secretary |
|
|
|
|
Name : |
Mr. Abhishek |
|
Designation : |
Senior Executive - Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Category of Shareholders |
No. of Shares |
Percentage of Holding |
|
(A)
Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
30966502 |
34.49 |
|
|
19364058 |
21.57 |
|
|
50330560 |
56.06 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
50330560 |
56.06 |
|
(B)
Public Shareholding |
|
|
|
|
|
|
|
|
20811 |
0.02 |
|
|
1694 |
0.00 |
|
|
19255367 |
21.45 |
|
|
1505 |
0.00 |
|
|
1505 |
0.00 |
|
|
19279377 |
21.48 |
|
|
|
|
|
|
4544546 |
5.06 |
|
|
|
|
|
|
8354100 |
9.31 |
|
|
5668130 |
6.31 |
|
|
1595322 |
1.78 |
|
|
83721 |
0.09 |
|
|
16421 |
0.02 |
|
|
27895 |
0.03 |
|
|
326320 |
0.36 |
|
|
1140965 |
1.27 |
|
|
20162098 |
22.46 |
|
Total
Public shareholding (B) |
39441475 |
43.94 |
|
Total
(A)+(B) |
89772035 |
100.00 |
|
(C)
Shares held by Custodians and against which Depository Receipts have been
issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
89772035 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Textiles. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS –
NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the Management. |
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|
||||||||||||||||||||||||||||||||||||
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Bankers : |
·
Oriental Bank of Commerce, Harsha Bhawan, E-Block, Ground and Ist
Floor, Connaught Place, New Delhi – 110 001, India ·
IndusInd Bank Limited, Dr. Gopal Das Bhawan, 28, Barakhamba Road, New
Delhi – 110 001, India ·
ING Vysya Bank Limited, Narian Manzil, Ground Floor, Shop No.G1 to G5,
I Floor, Shop No.1001 to 1007, Barakhamba Road, New Delhi – 110 001,
India ·
ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Vadodara –
390 015, Gujarat, India ·
Axis Bank Limited, 2nd Floor, Statesman House, 148,
Barakhamba Road, New Delhi – 110 001, India ·
Bank of Baroda ·
Canara Bank ·
Indian Bank ·
Yes Bank Limited ·
Industrial Development Bank of India ·
Oriental Bank of Commerce |
||||||||||||||||||||||||||||||||||||
|
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|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
J.C. Bhalla and Company Chartered Accountants |
|
Address : |
New Delhi, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises Under
Significant Influence (As on 31.03.2014) : |
|
|
|
|
|
Subsidiaries/
Step-down Subsidiaries (As on 31.03.2014) : |
|
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
114000000 |
Equity Shares |
Rs.10/- each |
Rs.1140.000 million |
|
7000000 |
Redeemable
Preference Shares |
Rs.10/- each |
Rs.70.000 million |
|
|
Total
|
|
Rs.1210.000
million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
89772035 |
Equity Shares |
Rs.10/- each |
Rs.897.720 million |
|
|
|
|
|
The company has only one
class of equity share having a par value of Rs.10/- per share. Each Shareholder
is eligible for one vote per share. The dividend proposed, if any by the Board of
Directors is subject to the approval of shareholders in the ensuing Annual
General Meeting, except in case of interim dividend. In the event of
liquidation, the equity shareholders are eligible to receive the remaining
assets of the Company, after distribution of all preferential amounts, in
proportion of their shareholding.
Reconciliation of number of shares
outstanding at the beginning and at the end of the year
|
Particulars |
As at 31st
March, 2014 |
|
|
No. of Shares |
Amount (Rs. in million) |
|
|
Equity
shares outstanding at the beginning of the year |
88372035 |
883.720 |
|
Add:
Equity shares issued during the year |
1400000 |
14.000 |
|
Less:
Equity shares bought back during the year |
-- |
-- |
|
Equity shares outstanding at the end of the
year |
89772035 |
897.720 |
List of shareholders holding more than 5% of
the aggregate share in the company
|
Name of Shareholder |
As at 31st
March, 2014 |
|
|
No. of Shares Held |
% of Holding |
|
|
Citigroup
Venture Capital International Growth Partnership Mauritius Limited |
19252650 |
21.45 |
|
CLC
Technologies Private Limited |
18300000 |
20.38 |
|
Mukund
Choudhary |
8535946 |
9.51 |
|
Kapil
Choudhary |
8474869 |
9.44 |
|
Ajay
Kumar Choudhary |
8066052 |
8.99 |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)
Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
897.720 |
883.720 |
|
(b) Reserves &
Surplus |
|
(1538.654) |
(1420.018) |
|
(c) Money received
against share warrants |
|
0.000 |
14.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
(640.934) |
(522.298) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
2414.529 |
2918.731 |
|
(b) Deferred tax
liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
1.671 |
1.724 |
|
(d) Long-term provisions |
|
68.263 |
70.347 |
|
Total Non-current
Liabilities (3) |
|
2484.463 |
2990.802 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
1447.927 |
999.698 |
|
(b) Trade payables |
|
1163.302 |
1230.070 |
|
(c) Other current
liabilities |
|
1598.641 |
1578.717 |
|
(d) Short-term provisions |
|
4.056 |
2.510 |
|
Total Current Liabilities
(4) |
|
4213.926 |
3810.995 |
|
|
|
|
|
|
TOTAL |
|
6057.455 |
6279.499 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
2052.832 |
2195.133 |
|
(ii) Intangible Assets |
|
0.000 |
0.891 |
|
(iii) Capital
work-in-progress |
|
0.646 |
3.148 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
774.893 |
774.893 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
817.906 |
961.017 |
|
(e) Other Non-current
assets |
|
238.905 |
254.145 |
|
Total Non-Current Assets |
|
3885.182 |
4189.227 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
1043.165 |
859.407 |
|
(c) Trade receivables |
|
336.403 |
397.932 |
|
(d) Cash and cash
equivalents |
|
42.928 |
60.687 |
|
(e) Short-term loans and
advances |
|
527.978 |
560.761 |
|
(f) Other current assets |
|
221.799 |
211.485 |
|
Total Current Assets |
|
2172.273 |
2090.272 |
|
|
|
|
|
|
TOTAL |
|
6057.455 |
6279.499 |
Note:
Balance Sheet for
the year 2015 is not available only Profit & Loss A/c is available.
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations (Net) |
8911.437 |
11428.973 |
11296.629 |
|
|
|
Other Income |
166.577 |
138.689 |
207.449 |
|
|
|
TOTAL |
9078.014 |
11567.662 |
11504.078 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials
consumed |
5943.172 |
7911.257 |
7385.481 |
|
|
|
Purchases of stock-in-trade |
144.649 |
149.442 |
272.396 |
|
|
|
Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
463.642 |
(261.108) |
(350.641) |
|
|
|
Employee benefit expense |
801.115 |
775.925 |
701.302 |
|
|
|
Other expenses |
1450.490 |
2112.590 |
2233.201 |
|
|
|
Prior period items |
0.000 |
5.703 |
26.514 |
|
|
|
TOTAL |
8803.068 |
10693.809 |
10268.253 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
274.946 |
873.853 |
1235.825 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
793.707 |
810.440 |
768.051 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(518.761) |
63.413 |
467.774 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
116.869 |
182.050 |
261.950 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(635.630) |
(118.637) |
205.824 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(635.630) |
(118.637) |
205.824 |
|
|
|
|
|
|
|
|
|
|
EXTRAORDINARY ITEMS
(NET OF TAX EXPENSE) |
(13.718) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. value of goods exported |
NA |
7264.117 |
7601.692 |
|
|
TOTAL EARNINGS |
NA |
7264.117 |
7601.692 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
68.644 |
71.758 |
|
|
|
Stores, Spares & Components |
NA |
47.887 |
36.097 |
|
|
TOTAL IMPORTS |
NA |
116.531 |
107.855 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(6.93) |
(1.32) |
2.34 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current maturities of long-term debts |
NA |
939.819 |
1005.070 |
|
Cash generated
from operations |
NA |
NA |
NA |
|
Cash flow from operating activities |
NA |
905.183 |
612.889 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(7.13) |
(1.04) |
1.82 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
3.09 |
7.65 |
10.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
(2.25) |
3.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.19 |
(0.39) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
NA |
(7.49) |
(9.43) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA |
0.52 |
0.55 |
STOCK
PRICES
|
Face Value |
Rs.10/- |
|
Market Value |
Rs.2.70/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
883.720 |
897.720 |
|
Reserves & Surplus |
(1420.018) |
(1538.654) |
|
Money received against share
warrants |
14.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
|
Net worth |
(522.298) |
(640.934) |
|
|
|
|
|
Long-term borrowings |
2918.731 |
2414.529 |
|
Short term borrowings |
999.698 |
1447.927 |
|
Current maturities of
long-term debts |
1005.070 |
939.819 |
|
Total borrowings |
4923.499 |
4802.275 |
|
Debt/Equity ratio |
(9.427) |
(7.493) |
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) |
|
Revenue from operations (Net) |
11296.629 |
11428.973 |
8911.437 |
|
|
|
1.172 |
-22.028 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Revenue from operations (Net) |
11296.629 |
11428.973 |
8911.437 |
|
Profit |
205.824 |
(118.637) |
(635.630) |
|
|
1.82% |
(1.04%) |
(7.13%) |
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 |
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 |
INDEX
OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10577458 |
25/06/2015 |
100,000,000.00 |
AXIS BANK LIMITED |
2ND FLOOR, RED FORT CAPITAL
PARSVNATH TOWERS, BHAI VEER SINGH MARG, NEW DELHI, DELHI - 110001, INDIA |
C57708026 |
|
2 |
10557568 |
27/03/2015 |
1,347,000,000.00 |
ORIENTAL BANK OF COMMERCE |
HARSHA BHAWAN, E-BLOCK, GROUND
AND IST FLOOR, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
C48000350 |
|
3 |
10562397 |
24/03/2015 |
27,900,000.00 |
INDIAN BANK |
47-48, PRAGATI HOUSE,
NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
C50475912 |
|
4 |
10521644 |
27/06/2014 |
30,000,000.00 |
INDUSIND BANK LIMITED |
DR. GOPAL DAS BHAWAN, 28,
BARAKHAMBA ROAD, NEW DELHI, NEW DELHI, DELHI - 110001, INDIA |
C22114797 |
|
5 |
10509406 |
17/06/2014 |
16,100,000.00 |
ING VYSYA BANK LIMITED |
NARIAN MANZIL, GROUND
FLOOR, SHOP NO. G1 TO G5, I |
C11580578 |
|
6 |
10490742 |
25/03/2014 |
50,900,000.00 |
85 A |
85 A, PANCHKUIAN ROAD,
NEW DELHI, DELHI - 110001, INDIA |
C03933264 |
|
7 |
10484539 |
20/06/2014 * |
82,300,000.00 |
ICICI BANK LIMITED |
LANDMARK RACE COURCE
CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
C11237138 |
|
8 |
10479922 |
18/02/2014 |
24,300,000.00 |
AXIS BANK LIMITED |
2ND FLOOR, STATESMAN
HOUSE, 148, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B97339824 |
|
9 |
10479925 |
18/02/2014 |
64,000,000.00 |
AXIS BANK LIMITED |
2ND FLOOR, STATESMAN
HOUSE, 148, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B97341374 |
|
10 |
10386677 |
03/11/2014 * |
1,501,300,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, JAWAHAR
VYAPAR BHAWAN, 1, TOLSTOY MARG, NEW DELHI, DELHI - 110001, INDIA |
C35093863 |
|
11 |
10364127 |
11/10/2012 * |
9,360,000.00 |
ING VYSYA BANK LIMITED |
NARIAN MANZIL, GROUND FLOOR,
SHOP NO. G1 TO G5, I |
B63457568 |
|
12 |
10356856 |
31/03/2012 |
547,900,000.00 |
ORIENTAL BANK OF COMMERCE |
85-A, RISHYAMOOK BUILDING,
PANCHKUIAN ROAD, NEW DELHI, DELHI - 110001, INDIA |
B40038507 |
|
13 |
10155403 |
03/11/2014 * |
3,950,700,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, JAWAHAR
VYAPAR BHAWAN, 1, TOLSTOY MARG, NEW DELHI, DELHI - 110001, INDIA |
C35092451 |
|
14 |
10030955 |
30/09/2014 * |
384,700,000.00 |
AXIS TRUSTEE SERVICES
LIMITED |
AXIS HOUSE, 2ND FLOOR,
BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI, MUMBAI,
MAHARASHTRA - 400025, INDIA |
C45886611 |
|
15 |
10028043 |
16/07/2012 * |
404,700,000.00 |
ICICI BANK LIMITED |
LANDMARK RACE COURCE
CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B57627812 |
|
16 |
10018649 |
02/05/2006 |
245,000,000.00 |
BANK OF BARODA |
11TH FLOOR, BOB BUILDING,
16 SANSAD MARG, NEW DELHI, DELHI - 110001, INDIA |
A01054378 |
|
17 |
10005807 |
27/03/2012 * |
62,016,000.00 |
IDBI BANK LIMITED |
LARGE CORPORATE GROUP, 1,
INDIAN RED CROSS SOCIET |
B37779428 |
|
18 |
10005016 |
29/05/2014 * |
117,900,000.00 |
BANK OF BARODA |
BANK OF BARODA BUILDING,
FIRST FLOOR, 16, SANSAD |
C07788367 |
|
19 |
10002427 |
16/07/2012 * |
475,000,000.00 |
ICICI BANK LIMITED |
LANDMARK RACE COURCE
CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B57626970 |
|
20 |
80012516 |
02/09/2011 * |
246,800,000.00 |
INDIAN BANK |
47-48, PRAGATI HOUSE,
NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
B20885992 |
|
21 |
80022992 |
24/12/2013 * |
76,545,000.00 |
INDUSIND BANK LIMITED |
2401,GEN THIMMAYYA ROAD
CANTONMENT, PUNE, MAHARASHTRA - 411001, INDIA |
B96817754 |
|
22 |
80004240 |
27/03/2012 * |
69,000,000.00 |
CANARA BANK |
JEEVAN BHARTI BUILDING,
PARLIAMENT STREET BRANCH, |
B37786183 |
|
23 |
90333589 |
15/04/2005 * |
1,000,000.00 |
INDUSTRIAL DEVELOPMENT
BANK OF INDIA LIMITED |
CUFFE PARADE, MUMBAI,
MAHARASHTRA, INDIA |
- |
|
24 |
80004600 |
28/12/2009 * |
105,800,000.00 |
ING VYSYA BANK LIMITED |
NARIAN MANZIL, GROUND
FLOOR, SHOP NO. G1 TO G5, I |
A79409082 |
|
25 |
80004603 |
11/10/2012 * |
152,620,000.00 |
ING VYSYA BANK LIMITED |
NARIAN MANZIL, GROUND
FLOOR, SHOP NO. G1 TO G5, I |
B63455729 |
* Date of charge modification
CONTINGENT
LIABILITIES:
(i)
Contingent Liabilities not provided for in respect of:
|
PARTICULAR |
31.03.2015 (Rs.
In Million) |
31.03.2014 (Rs.
In Million) |
|
Contingent Liabilities not provided for: |
|
|
|
a)
Demands from income tax authorities under appeal |
NA |
37.971 |
|
b)
Demands from sales tax authorities under appeal |
NA |
10.244 |
|
c) Show cause
notices/demands raised by excise / customs department (including applicable
penalties), not acknowledged as debts |
NA |
392.124 |
|
d)
Show cause notices/demands raised by MP Government / MPEB department , not
acknowledged as debts |
NA |
125.056 |
|
e)
Claims against the company not acknowledged as debts |
NA |
622.781 |
|
f)
Guarantees and letters of credit issued on behalf of the company, outstanding
at the year end |
NA |
248.804 |
|
g)
Bills Discounted with banks on behalf of the company, outstanding at the year
end |
NA |
724.660 |
|
h)
Corporate Guarantee given to IREDA for loan to Himalayan Crest Power Private
Limited |
NA |
186.107 |
|
i)
Corporate Guarantee given to AXIS Bank Limited and UCO Bank for loan to Amit
Spinning Industries Limited |
NA |
319.050 |
|
j) Corporate Guarantee
given to Tashkent Toytepa Textile for deferred payment of purchase
consideration on behalf of Spentex Tashkent Toytepa LLC Current Year USD
43,250,000 (previous year USD 43,250,000) |
NA |
2589.810 |
|
k) Corporate Guarantee given to CVCI for
investment in Spentex (Netherlands) B.V. Current Year USD 2,000,000 |
NA |
119.760 |
|
l) Corporate Guarantee given to SBI - Tokyo
Branch for loan to Spentex (Netherlands) B.V Current Year USD 205,00,120 |
NA |
1227.547 |
|
ii) Estimated value of contracts remaining to be
executed on capital account |
NA |
3.487 |
FIXED ASSETS:
Intangible Assets
·
Goodwill
·
Software
Tangible Assets
·
Land
- Freehold
Land
- Leasehold
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Office Equipments
·
Vehicle
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.63.46 |
|
UK Pound |
1 |
Rs.98.47 |
|
Euro |
1 |
Rs.70.69 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SMN |
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.