MIPL-Logo

 

MIRA INFORM REPORT

 

 

Report No. :

333160

Report Date :

22.07.2015

 

IDENTIFICATION DETAILS

 

Name :

GARWARE POLYESTER LIMITED

 

 

Registered Office :

Naigaon, Post Waluj, Aurangabad – 431133, Maharashtra

Tel. No.:

91-240-2554427

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

06.06.1957

 

 

Com. Reg. No.:

11-010889

 

 

Capital Investment / Paid-up Capital :

Rs.232.531 Million

 

 

CIN No.:

[Company Identification No.]

L10889MH1957PLC010889

 

 

IEC No.:

0388022833

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

NSKG01359B

 

 

PAN No.:

[Permanent Account No.]

AAACG0571D

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Manufacturer of flexible packaging, shrink labels, electrical motor and cable insulation, sequin, TV screen, magnetic media, imaging, metallic yarn, laminated films for glass tint, safety application etc.

 

 

No. of Employees :

Information declined by the management 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (50)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an old and established company incorporated during the year 1957 having a satisfactory track record.

 

The company is progressing well. General financial position of the company is sound and healthy.

 

Trade relations are reported as fair. Business is active. Payments terms are reported to be usually correct.

 

In view of long track record and acceptable financial base, the company can be considered normal for business dealings at usual trade terms and conditions.

 

Note:

 

Subject company has been found with RBI defaulter. However, RBI defaulter data provided on website is quit old and there is no latest data available from any source.  

 

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

CARE

Rating

BBB+ (Long Term Bank Facilities)

Rating Explanation

Have moderate degree of safety and carry moderate credit risk.

Date

07.07.2014

 

Rating Agency Name

CARE

Rating

A3+ (Short Term Bank Facilities)

Rating Explanation

Have moderate degree of safety and carry higher credit risk.

Date

07.07.2014

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name has been found enlisted as a defaulter in the publicly available RBI Defaulters’ list and the details of the same are as under:

 

Suit-filed accounts (Willful Defaulters) of Rs. 2.500 Million and above as on 22-July-2015

Search details

Borrower Containing - Garware Polyester

 

 

BANK

 

BRANCH

 

QUARTER

 

BORROWER NAME

 

DIRECTORS NAME

OUTSTANDING AMOUNT ( RS. IN MILLION)

SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA

MUMBAI

30-09-07

GARWARE POLYESTER LIMITED

A M NAIK, SARITA GARWARE, A B BHALERAO, B MORADIAN, S N BAHETI, MONIKA GARWARE MODI, S B GARWARE, S S GARWARE

55.600

SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA

MUMBAI

31-12-07

GARWARE POLYESTER LIMITED

A M NAIK, SARITA GARWARE, S B GARWARE,, B MORADIAN, MONIKA GARWARE MODI, S N BAHETI,, A B BHALERAO, S S GARWARE

55.600

SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA

MUMBAI

31-03-08

GARWARE POLYESTER LIMITED

SARITA GARWARE, S N BAHETI, S S GARWARE, MONIKA GARWARE MODI, B MORADIAN, A M NAIK, A B BHALERAO, S B GARWARE

55.600

UNIT TRUST OF INDIA LIMITED

MAIN BRANCH

31-03-04

GARWARE POLYESTER LIMITED

GAUTAM DOSHI, SARITA GARWARE, M.GARWARE MODI, S.N. BAHETI, A.B. BHALERAO, N.P.CHAPELGAONKAR, R.P. CHHABRA, S.S. GARWARE, B. MORADIAN, S.B. GARWARE

182.900

UNIT TRUST OF INDIA LIMITED

MAIN BRANCH

30-06-04

GARWARE POLYESTER LIMITED

N.P.CHAPELGAONKAR, S.S. GARWARE, R.P. CHHABRA, GAUTAM DOSHI, M.GARWARE MODI, S.N. BAHETI, S.B. GARWARE, A.B. BHALERAO, SARITA GARWARE, B. MORADIAN

170.500

UNIT TRUST OF INDIA LIMITED

MAIN BRANCH

30-09-04

GARWARE POLYESTER LIMITED

S.B. GARWARE, SARITA GARWARE, A.B. BHALERAO, B. MORADIAN, S.N. BAHETI, S.S. GARWARE, N.P.CHAPELGAONKAR, R.P. CHHABRA, GAUTAM DOSHI, M.GARWARE MODI

182.900

UNIT TRUST OF INDIA LIMITED

MAIN OFFICE

30-09-03

GARWARE POLYESTER LIMITED

A.B. BHALERAO, B. MORADIAN, GAUTAM DOSHI, M.GARWARE MODI, N.P.CHAPELGAONKAR, R.P. CHHABRA, S.B. GARWARE, S.N. BAHETI, S.S. GARWARE, SARITA GARWARE

182.900

UNIT TRUST OF INDIA LIMITED

MAIN OFFICE

31-12-03

GARWARE POLYESTER LIMITED

A.B. BHALERAO, B. MORADIAN, GAUTAM DOSHI, M.GARWARE MODI, N.P.CHAPELGAONKAR, R.P. CHHABRA, S.B. GARWARE, S.N. BAHETI, S.S. GARWARE, SARITA GARWARE

182.900

UNIT TRUST OF INDIA LIMITED

MUMBAI

31-03-05

GARWARE POLYESTER LIMITED

N.P.CHAPELGAONKAR, R.P. CHHABRA, S.N. BAHETI, B. MORADIAN, S.S. GARWARE, M.GARWARE MODI, GAUTAM DOSHI, S.B. GARWARE, SARITA GARWARE, A.B. BHALERAO

55.568

UTI MUTUAL FUND

MUMBAI

31-12-07

GARWARE POLYESTER LIMITED

GAUTAM DOSHI, S S GARWARE, A M NAIK, B MORADIAN, S N BAHETI, A B BHALERAO, S B GARWARE, SARITA GARWARE, MONIKA GARWARE MODI, PRASENJIT GUHA, N P CHAPALGAONKAR

127.332

 

Suit-filed accounts of Rs. 10.000 Million and above as on 22-Jul-2015

Search details

Borrower Containing - garware polyester 

 

BANK

 

BRANCH

 

QUARTER

 

BORROWER NAME

 

DIRECTORS NAME

OUTSTANDING AMOUNT ( RS. IN MILLION)

EXPORT IMPORT BANK OF INDIA

HEAD OFFICE

31-03-02

GARWARE POLYESTER LIMITED

A B BHALERAO, BANA PARANJPE, DILIP THAKKAR, G M YADWADKAR, M GARWARE MODI, S B GARWARE, S S GARWARE, S S TALWAR, S V MUZUMDAR, SARITA S GARWARE, V J B ANDREWS, V M KETKAR

963.000

EXPORT IMPORT BANK OF INDIA

HEAD OFFICE

30-06-02

GARWARE POLYESTER LIMITED

A B BHALERAO, BANA PARANJPE, DILIP THAKKAR, G M YADWADKAR, M GARWARE MODI, S B GARWARE, S S GARWARE, S S TALWAR, S V MUZUMDAR, SARITA S GARWARE, V J B ANDREWS, V M KETKAR

963.000

ICICI BANK LIMITED

MUMBAI

31-03-02

GARWARE POLYESTER LIMITED

A B BHALERAO, B MORADIAN, G M YADWADKAR, M GARWARE MODI, R P CHHABRA, S B GARWARE, S S GARWARE, SARITA S GARWARE, V M KETKAR

401.000

ICICI BANK LIMITED

MUMBAI

30-06-02

GARWARE POLYESTER LIMITED

A B BHALERAO, B MORADIAN, G M YADWADKAR, M GARWARE MODI, R P CHHABRA, S B GARWARE, S S GARWARE, SARITA S GARWARE, V M KETKAR

401.000

ICICI BANK LIMITED

MUMBAI

30-09-02

GARWARE POLYESTER LIMITED

A B BHALERAO, B MORADIAN, G M YADWADKAR, M GARWARE MODI, R P CHHABRA, S B GARWARE, S S GARWARE, SARITA S GARWARE, V M KETKAR

401.000

SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA

MUMBAI

31-03-05

GARWARE POLYESTER LIMITED

S N TALWAR, S S GARWARE, BANA PARANJAPE, S V MAZUMDAR, SARITA GARWARE, S B GARWARE

55.568

SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA

MUMBAI

31-03-06

GARWARE POLYESTER LIMITED

N P CHAPALGAONKAR, S B GARWARE, SARITA GARWARE, S S GARWARE, GAUTAM DOSHI, MONIKA GARWARE MODI, PRASENJIT GUHA, B MORADIAN, R P CHHABRA, A B BHALERAO, S N BAHETI

55.600

SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA

MUMBAI

31-03-07

GARWARE POLYESTER LIMITED

A B BHALERAO, GAUTAM DOSHI, B MORADIAN, S S GARWARE, A M NAIK, PRASENJIT GUHA, SARITA GARWARE, S N BAHETI, MONIKA GARWARE MODI, S B GARWARE, N P CHAPALGAONKAR

55.568

SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA

MUMBAI

30-06-07

GARWARE POLYESTER LIMITED

N P CHAPALGAONKAR, S B GARWARE, SARITA GARWARE, S S GARWARE, PRASENJIT GUHA, GAUTAM DOSHI, MONIKA GARWARE MODI, B MORADIAN, A M NAIK, A B BHALERAO, S N BAHETI

55.568

SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA

MUMBAI

30-09-07

GARWARE POLYESTER LIMITED

A M NAIK, PRASENJIT GUHA, SARITA GARWARE, S B GARWARE, S N BAHETI, B MORADIAN, MONIKA GARWARE MODI, N P CHAPALGAONKAR, A B BHALERAO, GAUTAM DOSHI, S S GARWARE

55.568

UNIT TRUST OF INDIA LIMITED

MUMBAI

31-03-02

GARWARE POLYESTER LIMITED

A B BHALERAO, ANDRREWS V J B, DILIP J THAKKAR, G M YADWADKAR, M GARWARE MODI, R P CHHABRA, S B GARWARE, S S GARWARE, SARITA GARWARE, V M KETKAR

234.300

UNIT TRUST OF INDIA LIMITED

MUMBAI

30-06-02

GARWARE POLYESTER LIMITED

A B BHALERAO, ANDRREWS V J B, DILIP J THAKKAR, G M YADWADKAR, M GARWARE MODI, R P CHHABRA, S B GARWARE, S S GARWARE, SARITA GARWARE, V M KETKAR

234.300

UNIT TRUST OF INDIA LIMITED

MUMBAI

30-09-02

GARWARE POLYESTER LIMITED

A B BHALERAO, ANDRREWS V J B, DILIP J THAKKAR, G M YADWADKAR, M GARWARE MODI, R P CHHABRA, S B GARWARE, S S GARWARE, SARITA GARWARE, V M KETKAR

234.300

UNIT TRUST OF INDIA LIMITED

MUMBAI

31-12-02

GARWARE POLYESTER LIMITED

A B BHALERAO, ANDRREWS V J B, DILIP J THAKKAR, G M YADWADKAR, M GARWARE MODI, R P CHHABRA, S B GARWARE, S S GARWARE, SARITA GARWARE, V M KETKAR

234.300

UNIT TRUST OF INDIA LIMITED

N.A.

30-09-02

GARWARE POLYESTER LIMITED

BANA PARANJAPE, DILIP J THAKKAR, G M YADWADKAR, M GARWARE MODI, S B GARWARE, S N TALWAR, S S GARWARE, S V MUZUMDAR, SARITA S GARWARE, V M KETKAR

234.300

PORT IMPORT BANK OF INDIA

HEAD OFFICE

30-06-02

GARWARE POLYESTER LIMITED

A B BHALERAO, BANA PARANJPE, DILIP THAKKAR, G M YADWADKAR, M GARWARE MODI, S B GARWARE, S S GARWARE, S S TALWAR, S V MUZUMDAR, SARITA S GARWARE, V J B ANDREWS, V M KETKAR

963.000

 

 

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 DENIED

 

MANAGEMENT NON CO-OPERATIVE (91-22-66988000)

 

LOCATIONS

 

Registered Office/ Factory 1 :

Naigaon, Post Waluj, Aurangabad – 431133, Maharashtra, India

Tel. No.:

91-240-2554427

Fax No. :

91-240-2554672

E-Mail :

manojkoul@garwarepoly.com

ho@garwarepolyl.com

nandasc@garwarepoly.com

ashok@garwarepoly.com

Website:

http://www.garware.poly.com  

Area:

Owned

 

 

Corporate/ Head Office/ Factory 2 :

Garware House, 50-A, Swami Nityanand Marg, Western Express Highway, Vile Parle (East), Mumbai- 400 057, Maharashtra, India

Tel. No.:

91-22-66988000

Fax No.:

91-22-28248155/ 28248199

E-Mail :

ho@garwarepoly.com

 

 

Factory 3 :

Polyester Film Plant, L-5 and L-6, Chikalthana, Industrial Area, Dr. Abasaheb Garware Marg, Aurangabad- 431210, Maharashtra, India

Tel. No.:

91-240-2485465/ 2485466

Fax No.:

91-240-2484179/ 2484262/ 2486002

E-Mail :

chikal@garwarepoly.com

 

 

Factory 4 :

A-1 and A-2, MIDC, Ambad, Nasik- 422 010, Maharashtra, India 

Tel. No.:

91-253-2382781 to 85

Fax No.:

91-253-2382410

 

 

Marketing Offices 1 / Branch Office 1:

403, Madarn Bhikaji Cama Bhawan, 11, Bhikaji Cama Place, New Delhi- 110 066, India

Tel. No.:

91-11-26715091 to 96

Fax No.:

91-11-26715098

 

 

Marketing Offices 2  / Branch Office 2 :

37/1 B, Hazra Road, Kolkata 700 029, West Bengal, India

Tel. No.:

91-33-24746823 / 24761350

Fax No.:

91-33-24749100

 

 

Marketing Offices 3 :

Old No.37, New No.55, Ambercrest, 4th Floor, Pantheon Road Lane, Egmore, Chennai – 600008, Tamilnadu, India

Tel. No.:

91-44-28420939

Fax No.:

91-44-28593924

 

 

Branch Office 3 :

204, DLF Tower B, Near Apollo Hospital, Jasola, New Delhi- 110 025, India

 

 

Overseas Office 1 :

Global Pet films Inc

9050 Pines Blvd., Suite #425, Pembroke Pines, Florida 33024 U.S.A.

Tel. No.:

9544997990

Fax No.:

9544997992

E-Mail :

usa@garwarepoly.com

 

 

Overseas Office 2 :

Garware Polyester Limited

Unit 2-17, The Plaza, 535 Kings Road, London SW10 0SZ, U.K.

Tel. No.:

+44 20 7376 3931

Fax No.:

+44 20 7376 3932

E-Mail :

uk@garwarepoly.com

 

 

Overseas Branch Office :

Unit 2-17, The Plaza, 535, Kings Road, London - SW10 0SZ.

 

 

DIRECTORS

 

AS ON 31.03.2014

 

Name :

Mr. Shashikant B. Garware

Designation :

Chairman and Managing Director

Address :

Flat No.L-1, 12th Floor, Eden Hall, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India

 

 

Name :

Mrs. Sheela S. Garware

Designation :

Director

Address :

Flat No.L-1, 12th Floor, Eden Hall, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India

 

 

Name :

Mrs. Monika Garware Modi

Designation :

Vice Chairperson and Jt. Managing Director    

Address :

Flat No.L-1, 12th Floor, Eden Hall, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India

Date of Birth/Age :

04.06.1963

Qualification :

M.B.A. (U.S.A.)

Date of Appointment :

31.03.1989

 

 

Name :

Ms. Sarita Garware

Designation :

Jt. Managing Director

Address :

Flat No.L-1, 12th Floor, Eden Hall, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India

 

 

Name :

Ms. Sonia Garware

Designation :

Director    

Address :

Flat No.L-1, 12th Floor, Eden Hall, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India

Date of Birth/Age :

24.07.1971

Qualification :

M.B.A. (U.S.A.)

Date of Appointment :

31.01.2007

 

 

Name :

Mr. Mohan S. Adsul

Designation :

Director – Technical

Address :

Plot No.10, N-5, A1 Parijat Nagar, CIDCO, Aurangabad – 411033, India

Date of Birth/ Age :

01.06.1955

Date of Appointment :

31.07.2007

Qualification :

B. Sc. (Tech) in Plastics and DBM

 

 

Name :

Mr. Boman Moradian

Designation :

Director

Address :

M. Cama Park, K – 3/64, Cama Road, Andheri (West), Mumbai – 400058, Maharashtra, India

 

 

Name :

Mr. Narendra P. Chapalgaonkar

Designation :

Director

Address :

13, Jaynagar, Near Dashmeshnagar, Aurangabad – 431005, India

Date of Birth/ Age :

10.04.1937

Appointment Date :

23.10.2003

Qualification :

M.A. and L .L.B

 

 

Name :

Mr. Dilip J. Thakkar

Designation :

Director

Address :

Little Gribbs Road, 12-Acropolis – B, Mumbai – 400006, Maharashtra, India

Date of Birth/ Age :

01.10.1936

Appointment Date :

30.04.2007

Qualification :

Chartered Accountant

 

 

Name :

Dr. Mahesh C. Agarwal

Designation :

Director

Address :

705, Manisha Apartments, Church Road, Marol, Andheri (East), Mumbai – 400059, Maharashtra, India

Date of Birth/ Age :

23.10.1946

Appointment Date :

29.04.2009

Qualification :

Masters in Psychology. Ph. D

 

 

Name :

Mr. Ramesh P. Makhija

Designation :

Director

Address :

Flat No.61, Ashoka Apartment, 6th Floor, Nepeansea Road, Mumbai – 400006, Maharashtra, India

Date of Birth/ Age :

19.08.1950

Appointment Date :

12.11.2009

Qualification :

L.L.B. Attorney – at - Law

 

 

Name :

Mr. A. B. Bhalerao

Designation :

Director

 

 

KEY EXECUTIVES

 

Name :

Mr. Manoj Koul

Designation :

Company Secretary and Senior General Manager

 

 

Name :

T. M. Parikh

Designation :

Company Secretary and senior General Manager

 

 

Name :

S.C. Nanda

Designation :

Chief Financial Officer

 

 

SHAREHOLDING PATTERN

 

AS ON 31.03.2015

 

Category of Shareholder

Total No. of Shares

Total Shareholding as a % of Total No. of Shares

As a % of (A+B+C)

(A) Shareholding of Promoter and Promoter Group

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

1873623

8.04

http://www.bseindia.com/include/images/clear.gifBodies Corporate

1336391

5.73

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

10595401

45.44

http://www.bseindia.com/include/images/clear.gifTrusts

10595401

45.44

http://www.bseindia.com/include/images/clear.gifSub Total

13805415

59.21

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals (Non-Residents Individuals / Foreign Individuals)

268595

1.15

http://www.bseindia.com/include/images/clear.gifSub Total

268595

1.15

Total shareholding of Promoter and Promoter Group (A)

14074010

60.36

(B) Public Shareholding

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

15076

0.06

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

3305

0.01

http://www.bseindia.com/include/images/clear.gifInsurance Companies

853956

3.66

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

2355

0.01

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

6011

0.03

http://www.bseindia.com/include/images/clear.gifTrusts

6011

0.03

http://www.bseindia.com/include/images/clear.gifSub Total

880703

3.78

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

1128838

4.84

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital up to Rs. 0.100 Million

3719561

15.95

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs. 0.100 Million

3309452

14.19

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

202586

0.87

http://www.bseindia.com/include/images/clear.gifClearing Members

12554

0.05

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

170615

0.73

http://www.bseindia.com/include/images/clear.gifOffice Bearer

19417

0.08

http://www.bseindia.com/include/images/clear.gifSub Total

8360437

35.86

Total Public shareholding (B)

9241140

39.64

Total (A)+(B)

23315150

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

0

0.00

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

0

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

0

0.00

Total (A)+(B)+(C)

23315150

100.00

 

 

 

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Promoter and Promoter Group

 

Sl.No.

Name of the Shareholder

Details of Shares held

No. of Shares held

As a % of grand total (A)+(B)+(C)

1

Shashikant Bhalchandra Garware

11,63,001

4.99

2

Sheela Shashikant Garware

1,75,465

0.75

3

Monika Garware Modi

2,67,504

1.15

4

Sarita Garware Ramsay

2,67,653

1.15

5

Sonia Shashikant Garware

2,68,595

1.15

6

S B Garware Family Trust

1,05,92,401

45.43

7

B D Garware Research Centre

10,67,216

4.58

8

Great View Real Estates Private Limited

2,69,175

1.15

9

Monika Garware Modi Benefit Trust

1,000

0.00

10

Sarita Garware Benefit Trust

1,000

0.00

11

Sonia Garware Benefit Trust

1,000

0.00

 

Total

1,40,74,010

60.36

 

(*) The term encumbrance has the same meaning as assigned to it in regulation 28(3) of the SAST Regulations, 2011.

 

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Public and holding more than 1% of the total number of shares

 

 

Sl. No.

Name of the Shareholder

No. of Shares held

Shares as % of Total No. of Shares

1

Minal B Patel

1159484

4.97

2

Life Insurance Corporation of India

853956

3.66

3

Hardik B Patel

550544

2.36

4

Dalal & Broacha Stock Broking Private Limited

272236

1.17

5

PAT Financial Consultants Private Limited

326277

1.40

 

Total

3162497

13.56

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of flexible packaging, shrink labels, electrical motor and cable insulation, sequin, TV screen, magnetic media, imaging, metallic yarn, laminated films for glass tint, safety application etc.

 

 

Products :

Item Code No.

Product Description

 

39206909

Polyester Film

39206903

Packaging Polyester Film

39206904

Sun Control Film

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

Not Divulged

 

PRODUCTION STATUS: NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management 

 

 

Bankers :

·         Indian Overseas Bank

·         Dena Bank

·         The Federal Bank Limited

·         State Bank of Mysore

·         Bank of India

 

 

Facilities :

(Rs. In Million)

Secured Loan

As on

31.03.2015

As on

31.03.2014

LONG TERM BORROWING

 

Term Loans

 

 

Indian Rupee Loan from Banks

 

551.983

Foreign Currency Loan from Banks

 

50.603

Vehicle Finance Lease Obligation

 

8.546

 

 

 

SHORT TERM BORROWING

 

 

Indians Rupees

 

117.619

Foreign Currency

 

339.940

Working Capital Loans

 

2282.358

 

 

 

Total

NA

3351.049

 

NOTE (AS ON 31.03.2014)

 

  1. Term Loans of Rs. 915.466 Million (Previous Year Rs. 830.669 Million) are secured by first pari-passu charge on fixed assets of the company both present and future except Land and Building at Vile Parle, Mumbai and also by way of second pari-passu charge on current assets of the company. The loans are repayable in 20 quarterly installments from quarter ended March 2011 till December 2018.

 

  1. Vehicle Finances of Rs. 21.349 Million (Previous Year Rs. 33.582 Million) are secured by hypothecation of specific assets. The loans are repayable in 60 monthly Installments The installments are payable from June 2009 till November 2016 covering all loans taken at various dates.

 

  1. Deferral Loan from SICOM is payable from April 2016 to April 2026.

 

  1. The rate of interest on Foreign Currency Loans are at LIBOR + 7.5%, on Rupee Loan @ 12.75% to 14.05% p.a. and on Vehicle Loan @ 8.50% to 15.50% p.a.

 

  1. Cash / Packing Credit Loans are secured by hypothecation of all the current assets including all stocks, book debts etc. of the Company and further secured by a second charge on fixed assets of the company excluding property at Vile Parle.

 

  1. Interest on Working Capital (Rupee) Loans ranges between 11% to 16.80% p.a. and Foreign Currency Loans Libor + 3% to Libor + 3.50% p.a.

 

 

 

 

Banking Relations :

---

 

 

Auditors :

 

Name :

Shah and Company

Chartered Accountants

Address :

Mumbai, Maharashtra, India

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Subsidiary :

(AS ON 31.03.2014)
  • Garware Polyester International Limited

 

 

Step down Subsidiary (AS ON 31.03.2014):
  • Global Pet Films Inc.

 

 

Enterprises over which key managerial person are able to exercise significant influence :

(AS ON 31.03.2014)
  • S.B. Garware Family Trust
  • Garware Charitable Trust
  • Garware Industries Limited
  • Great View Estate Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015

 

Authorised Capital: Not Available

 

Issued, Subscribed & Paid-up Capital: 232.531 Million

 

AS ON 31.03.2014

 

Authorised Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

40000000

Equity Shares

Rs.10/- each

Rs.400.000 Million

6000000

Preference Shares

Rs.100/- each

Rs.600.000 Million

 

Total

 

Rs.1000.000 Million

 

Issued, Subscribed & Paid-up Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

23315150

Equity Shares

Rs.10/- each

Rs.233.152 million

 

Less: Unpaid Allotment Call Money

 

Rs.0.621 Million

5446000

0.01% Cumulative Redeemable Preference Shares

Rs.100/- each

Rs.544.600 Million

 

Total

 

Rs.777.131 Million

 

Out of the above:

 

(i) 2,00,000 Equity Shares of Rs.10/- each were allotted as fully paid-up to various schemes operating under UTI Assets Management  Company Limited at a premium of Rs. 22.67 per Share on 23rd December, 2008 as per arrangement (Previous Year 200,000).

 

(ii) 2,54,764 Equity Shares of Rs. 10/- each fully paid-up issued to the shareholders of Garware Chemicals Limited (GCL) as per scheme of  arrangement under Section 391 to 394 of the Companies Act, 1956 on 14th November, 2011. (Previous Year 2, 54,764)

 

(iii) 54,46,000 0.01% Cumulative Redeemable Preference Shares of Rs. 100/- each were allotted as fully paid-up to IDBI at par (49,54,000 on  7th November, 2007 and 4,92,000 on 19th June, 2008) as per arrangement. (Previous Year 54, 46,000)

 

Terms / Rights attached to Shares

 

Equity Shares :

 

The company has only one class of equity shares having a par value of Rs. 10/- per share. Each equity

shareholder is entitled to One Vote per  share. The company declares and pays dividends in Indian rupees. The dividend proposed by the board of directors is subject to approval of Shareholders in the ensuing Annual General Meeting.

 

As per the companies Act, 1956 the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of  all preferential amounts in the event of Liquidation of the company. The distribution will be in proportion to the number of equity shares held by the shareholder.

 

Preference Shares :

The preference shares amounting to Rs. 4,9.540 Millions allotted on 07.11.2007 are redeemable in 3 equal installments from 1st April, 2014 to 1st April, 2016 and Rs. 49.200 Millions allotted on 19.06.2008 shall be redeemed in single installment on 1st April, 2016. These preference shares carry a fixed cumulative dividend of 0.01% per annum.

 

a. Reconciliation of the Number of Shares Outstanding at the beginning and at the end of the year

 

 

31.03.2014

Equity Shares

No. of Shares

Rs. In Million

At the beginning of the period

23315150

2331.52

Issued during the year

000

0.000

Outstanding at the end of the year

23315150

2331.52

 

 

 

Preference Shares

 

 

At the beginning of the year

5446000

5446.00

Issued during the year

000

0.000

Outstanding at the end of the year

5446000

5446.00

 

 

b. Details of Shareholders holding more than 5% Equity Shares in the company

 

 

31.03.2014

Name of the Shareholders

No. of Shares

% of Holding

IDBI Bank Limited

5446000

100.0

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2015

31.03.2014

31.03.2013

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

232.531

777.131

777.131

(b) Reserves & Surplus

5437.813

5287.277

5173.450

(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)

5670.344

6064.408

5950.581

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

606.281

731.478

745.361

(b) Deferred tax liabilities (Net)

316.281

243.097

211.365

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

49.778

44.838

40.862

Total Non-current Liabilities (3)

972.340

1019.413

997.588

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

2675.237

2739.917

1931.804

(b) Trade payables

452.658

436.711

344.792

(c) Other current liabilities

449.558

491.598

393.986

(d) Short-term provisions

95.921

85.222

86.728

Total Current Liabilities (4)

3673.374

3753.448

2757.310

 

 

 

 

TOTAL

10316.058

10837.269

9705.479

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

6594.621

5607.043

5534.333

(ii) Intangible Assets

 

8.613

11.452

(iii) Capital work-in-progress

 

861.938

390.855

(iv) Intangible assets under development

 

0.000

0.000

(b) Non-current Investments

20.613

20.694

21.446

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

884.602

839.713

944.262

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

7499.836

7338.001

6902.348

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

1337.096

1455.575

921.428

(c) Trade receivables

481.132

589.424

451.131

(d) Cash and cash equivalents

524.393

912.603

985.615

(e) Short-term loans and advances

426.147

514.719

428.812

(f) Other current assets

47.454

26.947

16.145

Total Current Assets

2816.222

3499.268

2803.131

 

 

 

 

TOTAL

10316.058

10837.269

9705.479

 

 

PROFIT & LOSS ACCOUNT

 

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

 

Income

8867.900

8351.859

7759.956

 

 

Other Income

265.800

116.302

81.375

 

 

TOTAL                                     (A)

9133.700

8468.161

7841.331

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

5323.700

5316.121

4150.315

 

 

Purchases of Stock-in-Trade

--

0.000

44.183

 

 

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

36.100

(292.878)

207.392

 

 

Employees benefits expense

642.600

584.694

510.289

 

 

Other expenses

1395.000

2071.452

2178.619

 

 

Exceptional Items

0.000

(62.216)

(55.614)

 

 

Power and Fuel

884.000

--

--

 

 

TOTAL                                     (B)

8281.400

7617.173

7035.184

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

852.300

850.988

806.147

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

436.400

369.474

294.632

 

 

 

 

 

 

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

415.900

481.514

511.515

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

150.800

334.751

393.144

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

265.100

146.763

118.371

 

 

 

 

 

Less

TAX                                                                  (H)

91.700

32.997

(158.694)

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

173.400

113.766

277.065

 

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

NA

2968.800

261.800

 

 

 

 

 

 

APPROPRIATIONS

 

 

 

 

Dividend on Cumulative Redeemable Preference Shares (CRPS) (*Rs.0.054 Million)

NA

0.100

0.100

 

Balance Carried to the B/S

NA

3082.500

2968.700

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

F.O.B. Value of Exports

NA

4529.697

4560.294

 

 

Dividend Income

NA

19.918

0.000

 

TOTAL EARNINGS

NA

4549.615

4560.294

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

NA

628.260

514.141

 

 

Components and Stores parts

NA

15.266

15.682

 

 

Packing Material

NA

5.102

10.275

 

 

Capital Goods

NA

244.674

182.336

 

TOTAL IMPORTS

NA

893.302

722.434

 

 

 

 

 

 

Earnings Per Share (Rs.)

7.44

4.88

11.88

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long Term Borrowing

NA

325.683

239.236

Cash generated from operations

NA

204.092

527.430

Net cash inflow / (outflow) from operating activities

NA

183.365

519.878

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

1.96

1.36

3.57

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

9.61

10.19

10.39

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.57

1.47

1.27

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.05

0.02

0.02

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.58

0.63

0.49

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.77

0.93

1.02

 

 

STOCK PRICES

 

Face Value

Rs.10.00/-

Market Value

Rs.120.00/-

 

 

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

777.131

777.131

232.531

Reserves & Surplus

5173.450

5287.277

5437.813

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

5950.581

6064.408

5670.344

 

 

 

 

long-term borrowings

745.361

731.478

606.281

Short term borrowings

1931.804

2739.917

2675.237

Total borrowings

2677.165

3471.395

3281.518

Debt/Equity ratio

0.450

0.572

0.579

 

 

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

7759.956

8351.859

8867.900

 

 

7.628

6.179

 

 

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

7759.956

8351.859

8867.900

Profit

277.065

113.766

173.400

 

3.57%

1.36%

1.96%

 

 

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

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2015

As on

31.03.2014

LONG TERM BORROWING

 

 

Interest Free Sales tax / VAT Deferral Loan of SICOM

NA

120.346

Total

NA

120.346

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10490002

25/04/2014

704,000,000.00

BANK OF INDIA

BANK OF INDIA, 92-93 FREE PRESS HOUSE 215, NARIMA
N POINT, MUMBAI, MAHARASHTRA - 400021, INDIA

C03761665

2

10418501

14/03/2014 *

454,400,000.00

INDIAN OVERSEAS BANK

NEW MARINE LINES BRANCH, MERCHANT CHAMBERS, GROUN
D FLOOR, OPP.SNDT COLLEGE, MUMBAI, MAHARASHTRA - 4
00020, INDIA

C05346192

3

10384547

28/09/2012

220,000,000.00

INDIAN OVERSEAS BANK

NEW MARINELINES BRANCH, MERCHANT CHAMBER, GROUND
FLOOR, OPP. SNDT COLLEGE, MUMBAI, MAHARASHTRA - 40
0020, INDIA

B61404307

4

10374082

14/03/2014 *

375,000,000.00

DENA BANK

INDUSTRIAL FINANCE BRANCH, 1ST FLOOR,, 17, HORNIM
AN CIRCLE, FORT, MUMBAI, MAHARASHTRA - 400023, IND
IA

C08887614

5

10338310

14/03/2014 *

367,000,000.00

INDIAN OVERSEAS BANK

NEW MARINE LINES BRANCH, MERCHANT CHAMBERS, GROUN
D FLOOR, OPP.SNDT COLLEGE, MUMBAI, MAHARASHTRA - 4
00020, INDIA

C05342555

6

10306368

10/10/2013 *

352,500,000.00

INDIAN OVERSEAS BANK

NEW MARINELINES BRANCH, MERCHANT CHAMBER, GROUND
FLOOR, OPP. SNDT COLLEGE, MUMBAI, MAHARASHTRA - 40
0020, INDIA

B88496500

7

10248201

08/10/2010

25,100,000.00

TATA CAPITAL LIMITED

ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHA
RASHTRA - 400001, INDIA

A97296578

8

90222741

07/05/2015 *

5,849,500,000.00

INDIAN OVERSEAS BANK

NEW MARINE LINES BRANCH, MERCHANT CHAMBERS, GROUN
D FLOOR, OPP.SNDT COLLEGE, MUMBAI, MAHARASHTRA - 4
00020, INDIA

C54930060

 

* Date of charge modification

 

CONTINGENT LIABILITIES NOT PROVIDED FOR -

                                                                                                                                              (Rs. In Million)

 

31.03.2015

As at 31.03.2014

Disputed Matters in appeal/contested in respect of

 

 

Income Tax

NA

148.764

Excise Duty and Service Tax

NA

47.716

Sales Tax

NA

90.096

Local Body Tax

NA

38.306

Maharashtra State Electricity Board (MSEB)

NA

2.772

Total

NA

327.645

 

Notes :

1.     The Company has given counter-guarantees for Rs. 518.257 Million  (Previous Year Rs. 343.691 Million) to Banks in respect of guarantees given by the Banks to third parties for purchase of equipment, supply of goods, clearance of goods from Customs, Excise Bonds, etc.

 

2.     Letters of Credit opened on behalf of the Company by Banks for purchase of materials and equipment amount to Rs. 2590.460 Million (Previous Year Rs. 1707.895 Million).

 

FIXED ASSETS

·         Land (Freehold)

·         Land (Leasehold)

·         Buildings

·         Plant and Machinery

·         Electrical Installations

·         Mould

·         Laboratory Equipments

·         Furniture and Fixtures

·         Office Equipment

·         Vehicles

·         Data Processing Equipments

 

PRESS RELEASES

 

GARWARE POLYESTER REDEEMS 5.446 MILLION CRPS ISSUED TO IDBI BANK


Garware Polyester Limited has informed BSE that the Company has redeemed 5.446 Million - 0.01% Cumulative Redeemable Preference Shares (CRPS) of Rs. 100/- each aggregating to Rs. 544.600 Million issued and allotted to IDBI Bank Limited. by paying Rs. 400.000 Million as One Time Settlement (OTS) in full and final payment of the said CRPS.


Garware Polyester Limited has informed BSE that the Company has redeemed 5.446 Million - 0.01% Cumulative Redeemable Preference Shares (CRPS) of Rs. 100/- each aggregating to Rs. 544.600 Million issued and allotted to IDBI Bank Limited. by paying Rs. 400.000 Million as One Time Settlement (OTS) in full and final payment of the said CRPS.

 

 

 

 

 

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.63.65

UK Pound

1

Rs.99.14

Euro

1

Rs.68.91

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

6

--RESERVES

1~10

6

--CREDIT LINES

1~10

5

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

YES

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

YES

--EPF

YES/NO

NO

TOTAL

 

50

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

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

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

 

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

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