MIRA INFORM REPORT
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Report No. : |
332582 |
|
Report Date : |
17.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
GENO PHARMACEUTICALS LIMITED |
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|
|
|
Registered
Office : |
Pharmaceutical Complex, Plot No. 4, Tivim Industrial Estate,
Karaswada, Mapusa-403526, Goa |
|
Tel. No.: |
91-832-2257216, 2257217 |
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|
|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
04.12.1975 |
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|
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Com. Reg. No.: |
24-000250 |
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Capital Investment
/ Paid-up Capital : |
Rs.30.000 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U24239GA1975PLC000250 |
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|
|
|
IEC No.: |
1788005040 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AAACG5887G |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and sale of pharmaceutical formulations. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exists |
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Comments : |
Subject is a well-established company incorporated during the year
1975. It is having a fine track record. For the financial year ended 2014, company has reported satisfactory financial
performance with healthy growth in revenue and high quality earnings, along
with profitability margin of 5.4% during a year under a review. Rating also takes into consideration company’s strong financial risk profile
marked by decent net worth base and favorable gap between trade payables to
its receivables. The company has long business track record, good market position along
with respectable and experienced directors. Trade relations are reported as fair. Business is active. Payment
terms are regular. In view of healthy operational performance and good history of
business, the company can be considered normal for business dealings 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term bank loan facilities BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
04.03.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term bank facilities A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
04.03.2014 |
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
31-03-2014.
INFORMATION DENIED
Management non cooperative (91-832-2257216)
LOCATIONS
|
Registered Office/ Head
Office / Factory: |
Pharmaceutical Complex, Plot No. 4, Tivim Industrial Estate,
Karaswada, Mapusa-403526, Goa, India |
|
Tel. No.: |
91-832-2257216, 2257217 |
|
Fax No.: |
91-832-2257215 |
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E-Mail : |
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Website : |
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Zonal Offices : |
Chennai Ground Floor, No. 64a, 6th Street Krishna Nagar, Tel No.: 91-44-23770950 Kolkata 206, Rajarhat Road, 4th Floor, Room No. 403, Noapara, (Beside Assam Petrol Pump), (Near New Town City Centre - 2), Kolkata -700 157, West Bengal, India Tel No: 91-33-25720099/ 25720090 New Delhi 801, Rohit House, 8th Floor, 3, Tolstoy Marg, Near
Barakhamba Road, Tel No: 91- 11 - 23738106/ 64515337 Mumbai 701, Acme Plaza, 7th Floor, Andheri Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra, India Tel No.: 91-22 – 28271613, 28271614 |
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C & F : DEPOTS
: |
Located At :
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DIRECTORS
As on 29.11.2014
|
Name : |
Mr. Dilip Ramacrisna Salgaocar |
|
Designation : |
Managing Director |
|
Address : |
"Sharvani", H. No 196/E-4, Near Sports Complex, Padem, Mapusa-403507, Goa, India |
|
Date of Birth/Age : |
20.10.1947 |
|
Date of Appointment : |
01.01.1980 |
|
DIN No.: |
00044240 |
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|
|
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Name : |
Mr. Pradip Prabhakar Mahatme |
|
Designation : |
Director |
|
Address : |
House No 8/65/A Near Telephone Exchange, Altinho, Panaji-403001, Goa, India |
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Date of Birth/Age : |
03.11.1951 |
|
Date of Appointment : |
22.04.1980 |
|
DIN No.: |
00019106 |
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|
|
|
Name : |
Mr. Anand Salgaocar |
|
Designation : |
Director |
|
Address : |
H/No 322, Rajeeshwari,, Baina, Vasco Da Gama - Goa, Vasco Da Gama, 403802, Goa, India |
|
Date of Birth/Age : |
04.02.1950 |
|
Date of Appointment : |
31.01.1980 |
|
DIN No.: |
00044909 |
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|
|
|
Name : |
Mr. Satish Sadanand Talwadker |
|
Designation : |
Director |
|
Address : |
F/3, Radhakrishna, St. Inez Panaji, Goa, Panaji-403001, Goa, India |
|
Date of Birth/Age : |
29.09.1942 |
|
Date of Appointment : |
27.03.2008 |
|
DIN No.: |
00044965 |
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|
|
|
Name : |
Mr. Shridhar Tamba |
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Designation : |
Director |
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Address : |
Santosh Building, Second Floor Infront of Tv Tower, Altino Panaji - Goa, Panaji-403001, Goa, India |
|
Date of Birth/Age : |
21.06.1923 |
|
Date of Appointment : |
22.04.1980 |
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DIN No.: |
00048511 |
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|
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Name : |
Mr. Sadashiv Vasudev Shet |
|
Designation : |
Director |
|
Address : |
H.No.F-108, Adwalpalkar, Dina Pai Residency,, Shankarwadi, Taleigao, Tiswadi, Panaji-403002, Goa, India |
|
Date of Birth/Age : |
22.02.1951 |
|
Date of Appointment : |
27.09.2014 |
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DIN No.: |
02227102 |
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|
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Name : |
Mr. Pramod Dilip Salgaocar |
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Designation : |
Whole-Time Director |
|
Address : |
"Sharvani", H.No 196/E-4, Near Sports Complex, Padem, Mapusa-403507, Goa, India |
|
Date of Birth/Age : |
21.09.1950 |
|
Date of Appointment : |
30.09.2006 |
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DIN No.: |
00044595 |
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|
|
|
Name : |
Mr. Sagar Dilip Salgaokar |
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Designation : |
Whole-Time Director |
|
Address : |
"Sharvani", H. No 196/E-4, Near Sports Complex, Padem, Mapusa-403507, Goa, India |
|
Date of Birth/Age : |
14.11.1975 |
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Date of Appointment : |
30.09.2005 |
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DIN No.: |
00044689 |
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|
|
|
Name : |
Mrs. Pallavi Sagar Salgaonkar |
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Designation : |
Whole-Time Director |
|
Address : |
"Sharvani", H.No 196/E-4, Near Sports Complex, Padem, Mapusa-403507, Goa, India |
|
Date of Birth/Age : |
20.02.1977 |
|
Date of Appointment : |
30.09.2014 |
|
DIN No.: |
00044805 |
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|
|
|
Name : |
Mr. Suriakiran Umacanta Sinaikunde |
|
Designation : |
Whole-Time Director |
|
Address : |
Gulmohar, H.No.35/B,Karaswada, Near Pimpal Tree, Tivim Industrial Estate, Mapusa-403526, Goa, India |
|
Date of Birth/Age : |
06.12.1957 |
|
Date of Appointment : |
25.10.2014 |
|
DIN No.: |
06960059 |
KEY EXECUTIVES
|
Name : |
Teja Mahesh Gadekar |
|
Designation : |
Secretary |
|
Address : |
H. No. 25/1, Near Tricks Soda Factory, Paliem, Uccassaim, Bastora, Mapusa, 403507, Goa, India |
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Date of Birth/Age : |
25.4.1985 |
|
Date of Appointment : |
25.08.2014 |
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PAN No.: |
BDQPK9835B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.11.2014
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 29.11.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
87.61 |
|
Other top fifty shareholders |
8.24 |
|
Others |
4.15 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and sale of pharmaceutical formulations. |
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Products : |
Not Available |
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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 : |
Information declined by the management |
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Bankers : |
· TJSB Sahakari Bank Limited, Mapusa, Goa, India ·
The Goa Urban Co-operative Bank Limited,
Mapusa, Goa, India |
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Facilities : |
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Auditors : |
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Name : |
Ganesh Daivajna and Company Chartered Accountants |
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Address : |
2nd Floor, Ganesh, Chambers, Abade Faria Road, Opposite, Confidant, P.O. Box No. 49, Goa, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABFG0206H |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on 29.11.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,500,000 |
Equity Shares |
Rs.10/- each |
Rs. 65.000 Million |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000
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 |
30.000 |
30.000 |
30.000 |
|
(b) Reserves & Surplus |
492.625 |
407.243 |
364.375 |
|
(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) |
522.625 |
437.243 |
394.375 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
138.123 |
44.033 |
54.981 |
|
(b) Deferred tax liabilities (Net) |
4.882 |
3.816 |
2.554 |
|
(c) Other long term
liabilities |
32.650 |
21.950 |
23.149 |
|
(d) long-term
provisions |
40.491 |
38.130 |
35.329 |
|
Total Non-current
Liabilities (3) |
216.146 |
107.929 |
116.013 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
101.082 |
100.728 |
99.810 |
|
(b) Trade
payables |
80.932 |
85.889 |
73.280 |
|
(c) Other
current liabilities |
136.395 |
109.865 |
96.528 |
|
(d) Short-term
provisions |
4.184 |
18.649 |
12.364 |
|
Total Current
Liabilities (4) |
322.593 |
315.131 |
281.982 |
|
|
|
|
|
|
TOTAL |
1061.364 |
860.303 |
792.370 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
226.737 |
221.273 |
221.460 |
|
(ii) Intangible
Assets |
3.421 |
0.113 |
0.282 |
|
(iii)
Capital work-in-progress |
173.640 |
4.168 |
2.491 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.027 |
0.527 |
0.527 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
49.661 |
59.616 |
34.489 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
454.486 |
285.697 |
259.249 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
231.926 |
223.630 |
183.812 |
|
(c) Trade
receivables |
188.210 |
218.262 |
174.368 |
|
(d) Cash
and cash equivalents |
113.655 |
94.956 |
141.823 |
|
(e) Short-term
loans and advances |
69.420 |
29.144 |
28.353 |
|
(f) Other
current assets |
3.667 |
8.614 |
4.765 |
|
Total
Current Assets |
606.878 |
574.606 |
533.121 |
|
|
|
|
|
|
TOTAL |
1061.364 |
860.303 |
792.370 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1565.289 |
1527.767 |
1416.833 |
|
|
|
Other Income |
24.651 |
22.215 |
16.486 |
|
|
|
TOTAL (A) |
1589.940 |
1549.982 |
1433.319 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
511.873 |
567.199 |
492.440 |
|
|
|
Purchases of Stock-in-Trade |
179.480 |
189.054 |
148.868 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(4.389) |
-52.479 |
-13.208 |
|
|
|
Employees benefits expense |
303.386 |
294.584 |
271.022 |
|
|
|
Other expenses |
443.450 |
429.687 |
375.219 |
|
|
|
TOTAL (B) |
1433.800 |
1428.045 |
1274.341 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
156.140 |
121.937 |
158.978 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.777 |
9.425 |
4.261 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
147.363 |
112.512 |
154.717 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
14.645 |
14.823 |
13.596 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
132.718 |
97.689 |
141.121 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
47.335 |
42.536 |
48.714 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
85.383 |
55.153 |
92.407 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
129.626 |
146.329 |
130.162 |
|
|
TOTAL EARNINGS |
129.626 |
146.329 |
130.162 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
25.610 |
21.839 |
15.148 |
|
|
|
Capital Goods |
0.000 |
0.000 |
0.041 |
|
|
TOTAL IMPORTS |
25.610 |
21.839 |
15.189 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
28.46 |
18.38 |
30.8 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
23.246 |
10.961 |
9.822 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
171.783 |
36.929 |
129.273 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
5.45 |
3.61 |
6.52 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
9.98 |
7.98 |
11.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.97 |
11.42 |
17.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.22 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.50 |
0.36 |
0.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.88 |
1.82 |
1.89 |
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 |
30.000 |
30.000 |
30.000 |
|
Reserves & Surplus |
364.375 |
407.243 |
492.625 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
394.375 |
437.243 |
522.625 |
|
|
|
|
|
|
long-term borrowings |
54.981 |
44.033 |
138.123 |
|
Short term borrowings |
99.810 |
100.728 |
101.082 |
|
Current maturities of
long-term debts |
9.822 |
10.961 |
23.246 |
|
Total
borrowings |
164.613 |
155.722 |
262.451 |
|
Debt/Equity
ratio |
0.417 |
0.356 |
0.502 |
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 |
1416.833 |
1527.767 |
1565.289 |
|
|
|
7.830 |
2.456 |
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 |
1416.833 |
1527.767 |
1565.289 |
|
Profit |
92.407 |
55.153 |
85.383 |
|
|
6.52% |
3.61% |
5.45% |
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 |
No |
|
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 |
Yes |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
Reg. No. : TXA / 36 / 2015 Stamp
No. :- STM / 2591 / 2014 |
|
|
Case Status : |
Pending (Pre-Admitted) |
|
Petitioner : |
1. THE COMMISSIONER OF INCOME TAX |
|
Respondent : |
1. M/S. GENO PHARMACEUTICALS LIMITED |
|
Petitoner Adv. : |
Adv. Asha A. Desai |
|
District : |
North Goa |
|
Bench : |
Division |
|
Act : |
Income Tax Act, 1961 |
|
Category : |
Income Tax Appeal |
|
Case Stage : |
FOR ADMISSION – AFTER NOTICE |
|
Hearing Date : |
27 July 2015 |
|
Application
Maters No application matters |
Connected
Maters No connected
matters |
|
This Case is updated on : 07 July
2015 |
|
UNSECURED LOAN
|
PARTICULAR |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
0.101 |
0.128 |
|
Total |
0.101 |
0.128 |
REVIEW OF OPERATIONS:
During the year revenue from operations of the Company were at Rs. 1565.300 Million as against Rs. 1527.800 Million in the previous year recording a marginal growth of 2% as against 8% growth recorded last year. The reduction in revenue is mainly on account of decline in export sales by 42%, however domestic sales have recorded a growth of 8%.
The profit before tax and prior period adjustments is higher at Rs. 132.700 Million as against Rs. 97.700 Million in the previous year. The profit after tax and prior year adjustments is Rs. 85.400 Million as against Rs. 55.200 Million in the previous year. The profits for the year are higher compared to the previous year mainly on account of better gross margin recorded in traded and manufactured goods sale as can be seen from lower consumption cost. Besides this there were major savings in power and fuel cost, sales promotion expenses and also entry tax outgo as compared to the previous year.
During the year the Company achieved export turnover of Rs. 100.500 Million as against Rs. 173.100 Million in the previous year registering a decline of 42% over the previous year. The same is mainly on account of abundant caution taken by the Company while executing export orders during the year with a view to avoid blockage of funds with debtors and also because production facility was not available for executing export orders on account of ongoing expansion. Efforts are on for early recovery of pending dues of over Rs. 66.300 Million about during the current year. The Company has entered into an agreement with MAH International Corporation Switzerland for speedy recovery of pending dues. The Company has also lodged claim of Rs. 10.000 Million with Export Credit Guarantee Corporation of India Limited, Mumbai. With the upgradation of manufacturing facilities as stated above, the Company is hopeful of achieving higher exports in the ensuing year.
FUTURE OUTLOOK:
The performance of the Company during the current year so far has been good. Till September, 2014 the sales (including exports) have increased to Rs. 1004.600 Million as against Rs. 937.600 Million in the corresponding period of the last year registering a growth of about 7%. Considering the present trend the Company is hopeful of achieving better results in the ensuing year.
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10470582 |
26/12/2013 |
99,000,000.00 |
SYNDICATE BANK |
DEMPO MANSION, MAPUSA, Goa - 403507, INDIA |
B93649689 |
|
2 |
10464644 |
10/10/2014 * |
250,000,000.00 |
GOA URBAN CO OPERATIVE BANK LIMITED & TJSB SAHAKAR |
MAPUSA BRANCH, MAPUSA, Goa - 403507, INDIA |
C30591812 |
|
3 |
90075797 |
21/11/2013 * |
146,957,000.00 |
THE GOA URBAN CO-OP BANK LTD |
MAPUSA-BRANCH, MAPUSA, Goa - 403507, INDIA |
B91326678 |
|
4 |
90077554 |
16/05/2005 * |
25,000,000.00 |
GOA URBAN CO-OPERATIVE BANK LTD. |
MAPUSA, MAPUSA, Goa, INDIA |
- |
|
5 |
90077162 |
21/05/1997 * |
45,000,000.00 |
SYNDICATE BANK |
MAPUSA BRANCH, MAPUSA, Goa, INDIA |
- |
|
6 |
90076135 |
09/08/1995 * |
360,500.00 |
THE SARASWAT COOP. BANK LTD. |
PANAJI, PANAJI, Goa, INDIA |
- |
|
7 |
90077143 |
14/12/1995 * |
39,000,000.00 |
SYNDICATE BANK |
MAPUSA, MAPUSA, Goa, INDIA |
- |
|
8 |
90077035 |
30/03/1995 * |
21,807,000.00 |
SYNDICATE BANK |
MAPUSA, MAPUSA, Goa, INDIA |
- |
|
9 |
90076616 |
13/05/1988 * |
11,160,000.00 |
SYNDICATE BANK |
MAPUSA, MAPUSA, Goa, INDIA |
- |
|
10 |
90076992 |
18/11/1983 |
200,000.00 |
MAPUSA URBAN CO-OPERATION LTD. |
MAPUSA, MAPUSA, Goa, INDIA |
- |
FIXED ASSETS
- Land
- Buildings
- Factory building
- Plant and equipment
- Furniture and fixtures
- Factory equipments
- Vehicles
- Office equipment
- Computer equipments
- 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.63.50 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.69.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
JYTK |
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 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
52 |
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.