MIRA INFORM REPORT

 

 

Report No. :

333895

Report Date :

27.07.2015

 

IDENTIFICATION DETAILS

 

Name :

FENO PLAST LIMITED

 

 

Registered Office :

306, Chenoy Trade Centre, Park Lane, Secunderabad – 500003, Telangana

Tel. No.:

91-40-27840322

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

16.10.1975

 

 

Com. Reg. No.:

36-001942

 

 

Capital Investment / Paid-up Capital :

Rs. 45.968 Millions

 

 

CIN No.:

[Company Identification No.]

L25209TG1975PLC001942

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

HYDF00369F

 

 

PAN No.:

[Permanent Account No.]

AAACF3076C

 

 

Legal Form :

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

 

 

Line of Business :

Manufacturer, Exporter and Importer of PVC Film and PVC Leather Cloth.

 

 

No. of Employees :

268 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (46)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 1000000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an old and established company incorporated during the year 1975 having a satisfactory track record.

 

Profit margin of the company is low. However, net worth of the company is satisfactory. General financial position of company is normal and acceptable for business dealing.

 

Further, the rating also takes into consideration favorable gap between trade payable and trade receivable.

 

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.

 

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

 

CARE

Rating suspended as the company has not furnished the information required.

October 2013.

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAILTERS’ 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 (Tel. No.: 91-40-27840322)

 

 

LOCATIONS

 

Registered Office :

306, Chenoy Trade Centre, Park Lane, Secunderabad – 500003, Telangana, India

Tel. No.:

91-40-27840322/ 27840722

Fax No.:

91-40-27721739

E-Mail :

inbox@fenoplast.com

hyd2_fenplast@sancharnet.in

fenoexports@eth.net

fenplast@hd2.dot.net.in

Website :

www.fenoplast.com

 

 

Factory  :
  • Unit-I

PlotNo.21/A, Industrial Development Area, Patancheru, Medak Dist., Andhra Pradesh, India

 

·         Unit-II

Survey No. 132 and 133, Nandigoan Village, Patancheru Mandal, Medak Dist., Andhra Pradesh, India

 

  • Unit-III

Survey No. 165 and 166, Nandigoan Village, Patancheru Mandal, Medak Dist., Andhra Pradesh, India

 

 

Depot / Marketing Office :

Located at :

 

·         Mumbai

A/11, Parle Colony, CHS, Near Garware House, Sahakar Road, Vile Parle (East) Mumbai - 400 057, Maharashtra, India

 

·         Hosur

No.6, Sidco Industrial Estate, Phase-III, District Krishnagiri, Hosur - 635126, Tamilnadu, India

 

·         Kolkata

P-175, Kalindi Housing Estate, Kolkata - 700089, West Bengal, India

 

·         Gurgaon

Shed No.02, Saraya Ka Rasta, behind Prince Vatika, Opposite Sector-05, Gurgaon - 122001, Haryana, India

 

·         New Delhi

35B and 36, Samaspur Village, Patpargunj, New Delhi -110091, India

 

·         Roorkee

D K Cold Storeage Compound, Sunhera Road, Kashipuri Pragna and Tehsil Roorkee, District Hardwar - 247667, Uttrarakhand, India

  

·         Kalyan

Plot No 681, at Post Kon, Taluka-Bhiwandi, Dist-Thane (Near Water Park), Kon Village, Kalyan-Bhiwandi Road, Maharashtra, India

 

·         Indore

67, Mangalmurti Nagar, Scheme No. 77, Ring Road, Behind Mayur Hospital, Indore - 452018, Madhya Pradesh, India

 

·         Attibele

Kaveri Nilaya, Bhuvaneshwari Nagar, Attibele - 562107, Karnataka, India

 

·         Baddi

Bhud Road, Vill. Gullarwala, Teshil. Nalagarh, P.O. Karuana, District Solan, Baddi, Himalchal Pradesh, India

 

·         Ludhiana

Street No.8, Baba Deep Singh Nagar, Ambala Bye Pass Road, Near Transport Nagar Crossing, Ludhiana – 141010, Punjab, India

 

 

DIRECTORS

 

As On 31.03.2014

 

Name :

Mr. B. Kamalakar Rao

Designation :

Chariman

Date of Birth/Age :

27.03.1949

Date of Appointment :

28.09.2005

Expertise in specific functional area :

More than 38 years in Finance and Management.

Qualification :

B. Tech, M.B.A.  and F.I.E.

 

 

Name :

Mr. H Narsaiah

Designation :

Director

 

 

Name :

Mr. H Kishen

Designation :

Managing Director

 

 

Name :

Mr. H Krishna Kumar

Designation :

Whole-Time Director

 

 

Name :

Dr. K Malhar Rao

Designation :

Director

Date of Birth/Age :

14.12.1934

Date of Appointment :

30.04.2004

Expertise in specific functional area :

He is a retired Professor of Pediatrics, Kakatiya University. He is having wide contacts in Pharma Industry, which would help the Company to improve the business in the PVCF film.

Qualification :

M.B.B.S., M.D.

 

 

Name :

Dr. H Anuradha

Designation :

Director

Date of Birth/Age :

04.02.1962

Date of Appointment :

02.03.2008

Expertise in specific functional area :

She has been working as Civil Assistant Surgeon inthe department of Radiology

in Gandhi Medical College, Hyderabad.

 

 

Name :

Mr. P Niroop

Designation :

Director

Date of Birth/Age :

08.06.1958

Date of Appointment :

13.05.2010

Expertise in specific functional area :

He is a Supreme Court Lawyer having good experience and exposure to various matters related to Company law, Environment law etc.

 

 

KEY EXECUTIVES

 

Name :

Ms. Archana

Designation :

Export Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.06.2015

 

Category of Shareholder

No. of Shares

of Holdings

(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

2854916

62.06

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

2854916

62.06

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

 

 

Total shareholding of Promoter and Promoter Group (A)

2854916

62.06

(B) Public Shareholding

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

 

 

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

 

 

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

97795

2.13

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

671048

14.59

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

864839

18.80

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

111402

2.42

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

110005

2.39

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

1397

0.03

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

1745084

37.94

Total Public shareholding (B)

1745084

37.94

Total (A)+(B)

4600000

100.00

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

 

 

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)

4600000

0.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Importer of PVC Film and PVC Leather Cloth.

 

 

Products :

ITC Code No.

Product Descriptions

59031000

Textile fabrics coated with PVC (PVC Leather Cloth)

39211200

PVC Cellular Sheets

39204100

PVC Film and Sheets (Rigid)

39204200

PVC Film and Sheets (Flexible)

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • US
  • UK
  • Middle East

 

 

Imports :

 

Products :

Raw Material

Countries :
  • Korea
  • Japan
  • Malaysia

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

GENERAL INFORMATION

 

Suppliers :

Not Divulged

Reference :

L.G. Chern India Private Limited

Name of the Person :

Himanshu Agarwal

Contact No.:

91-9967643629 (Sales Manager)

Since How Long Known :

10 years

Experience :

Good

Maximum Limit Dealt :

Not Divulged

 

 

Customers :
  • Wholesalers
  • Retailers
  • Manufacturer

 

Reference :

Ajay Home Products Limited

Name of the Person :

Mr. Sunil (Receptionist)

Contact No.:

91-11-41410414

Since How Long Known :

Above 3 years

Experience :

Good

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

268 (Approximately)

 

 

Bankers :

Banker Name

Syndicate Bank

Branch Address

Varakshmi Complex, Secunderabad, Andhra Pradesh, India

Person Name (With Designation)

Not Divulged

Contact Number

91-40-27710270/ 27700276

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged
  • Canara Bank, Rushtra Pathi Road, Secunderabad – 500003, Andhra Pradesh, India
  • Indian Bank, Surabhi Arcade, Bank Street, Hyderabad – 500001, Andhra Pradesh, India

 

 

Facilities :

(Rs. In Million)

SECURED LOANS

31.03.2015

(Rs. in Millions)

31.03.2014

(Rs. in Millions)

LONG TERM BORROWINGS

 

 

Term Loan from Banks

NA

31.880

Vehicle Loan from Banks

NA

4.539

SHORT TERM BORROWINGS

 

 

From Banks – working capital loans

NA

580.334

 

 

 

Total

NA

616.753

 

Notes :

 

Long Term Borrowing

 

a) Term loan from banks include loan from Syndicate bank

 

b) Term loans from banks are secured by first charge on all existing and future assets of the Company on pari pasu basis and personal guarantee of directors (Mr. H. Narsaiah, Mr. H. Kishen and Mr.H.Krishna Kumar) of the Company, other managerial persons (Mr. H. Mahesh Kumar and Mr. H.Praveen Kumar) Second charge on Current Assets of the Company.

 

Short Term Borrowing

 

Working capital loans from banks are secured by hypothecation of movable assets including inventories and assignment of receivables, personal guarantees of Directors (Mr. H. Kishen, Mr. H. Krishna Kumar and Mr. H. Narsaiah) of the Company and Second charge on the fixed assets of the Company.

 

Auditors :

 

Name :

M. Anandam and Company

Chartered Accountants

Address :

7A, Surya Towers, S.P. Road, Secunderabad, Andhra Pradesh, India

Tel. No.:

91-22-27812377,27812034

Fax No.:

91-22-27812091

E-Mail :

www.anandam.in

PAN No.:

AACFM8791J

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

Rex - O - Knits Private Limited

CIN No.: U17123AP1984PTC004465

 

 

CAPITAL STRUCTURE

 

As On 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

60,00,000

Equity Shares

Rs. 10/- each

Rs. 60.000 Millions

60,00,000

Preference Shares

Rs. 10/- each

Rs. 60.000 Millions

 

 

 

 

 

Total

 

Rs.120.000 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

46,00,000

Equity Shares

Rs. 10/- each

Rs.46.000 Millions

 

Less :Call in Arrears

 

Rs.0.033 Millions

 

 

 

 

 

Total

 

Rs. 45.968 Millions

 

 

Details of shareholders holding more than 5% shares

 

Name of Shareholders

As on 31.03.2014

% of Share Holdings

Number of Shares

H. Krishna Kumar

6.38

293,500

H. Saparna

6.93

319,000

H. Narsaiah

5.92

272,392

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

3

SOURCES OF FUNDS

 

31.03.2015

31.03.2014

31.03.2013

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

45.968

45.968

45.968

(b) Reserves & Surplus

317.774

306.438

297.163

(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)

363.742

352.406

343.131

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

31.288

43.259

47.596

(b) Deferred tax liabilities (Net)

39.231

39.464

38.091

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

9.856

8.032

6.222

Total Non-current Liabilities (3)

80.375

90.755

91.909

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

597.026

580.334

487.454

(b) Trade payables

462.427

467.315

385.373

(c) Other current liabilities

208.941

163.340

126.893

(d) Short-term provisions

0.484

0.150

0.020

Total Current Liabilities (4)

1268.878

1211.139

999.740

 

 

 

 

TOTAL

1712.995

1654.300

1434.780

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

337.435

332.746

320.448

(ii) Intangible Assets

4.537

5.699

5.298

(iii) Capital work-in-progress

1.023

6.103

0.497

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

3.500

0.300

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

16.976

21.706

21.300

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

363.471

366.554

347.543

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

410.039

361.330

251.267

(c) Trade receivables

810.530

795.597

685.682

(d) Cash and cash equivalents

40.021

48.750

45.897

(e) Short-term loans and advances

57.829

60.513

95.354

(f) Other current assets

31.105

21.556

9.037

Total Current Assets

1349.524

1287.746

1087.237

 

 

 

 

TOTAL

45.968

1654.300

1434.780

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

 

31.03.2014

31.03.2013

 

SALES

 

 

 

 

 

Income

2373.043

2186.294

1941.335

 

 

Other Income

9.747

119.321

6.193

 

 

TOTAL                                     (A)

2382.790

2305.615

1947.528

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Material Consumed

1822.827

1769.982

1400.256

 

 

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

(37.130)

(95.277)

30.212

 

 

Employees Benefit Expenses

115.403

93.703

83.818

 

 

Other Expenses

285.919

353.427

251.366

 

 

TOTAL                                     (B)

2187.019

2121.835

1765.652

 

 

 

 

 

 

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

195.771

183.780

181.876

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

150.979

140.677

134.986

 

 

 

 

 

 

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

44.792

43.103

46.890

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

21.066

20.996

21.199

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)                (G)           

23.726

22.107

25.691

 

 

 

 

 

Less

TAX                                                                  (H)

5.953

5.240

9.176

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX (G-H)                  (I)

17.773

16.867

16.515

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

3.86

3.67

3.59

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

 

31.03.2014

31.03.2013

Current Maturities of Long term debt

NA

18.732

44.459

Cash generated from operations

NA

21.718

130.574

Net cash flow from (used in) operation

NA

12.879

113.574

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

 

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

0.75

0.77

0.85

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

8.25

8.41

9.37

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.39

1.34

1.79

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.07

0.06

0.07

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.73

1.77

1.56

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.06

1.06

1.09

 

 

STOCK PRICES

 

Face Value

Rs. 10.00/-

Market  Value

Rs. 35.05/-

 

 

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

45.968

45.968

45.968

Reserves & Surplus

297.163

306.438

317.774

Share Application money pending allotment

0.000

0.000

0.000

Net worth

343.131

352.406

363.742

 

 

 

 

long-term borrowings

47.596

43.259

31.288

Short term borrowings

487.454

580.334

597.026

Current Maturities of Long Term Debt

0.000

0.000

0.000

Total borrowings

535.050

623.593

628.314

Debt/Equity ratio

1.559

1.770

1.727

 

 

 

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

1941.335

2186.294

2373.043

 

 

12.618

8.542

 

 

 

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

1941.335

2186.294

2373.043

Profit

16.515

16.867

17.773

 

0.85%

0.77%

0.75%

 

 

 

 

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

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10481556

08/02/2014

300,000,000.00

Syndicate Bank

First Floor,Varalakshmi Complex, Mahatma Gandhi R 
oad, Secunderabad, Andhra Pradesh - 500003, INDIA

B98055221

2

10459208

30/09/2013

350,000,000.00

Canara Bank

Rashtra Pathi Road, Secunderabad, Andhra Pradesh - 
500003, INDIA

B89145536

3

10389461

01/12/2012

95,000,000.00

INDIAN BANK

Surabhi Arcade, Bank Street, Hyderabad, Andhra Pr 
adesh - 500001, INDIA

B63140248

4

10388167

29/09/2012

20,000,000.00

CANARA BANK

RASHTRAPATHI ROAD, SECUNDRABAD, Andhra Pradesh - 5 
00003, INDIA

B62648001

5

10365496

19/06/2012

20,000,000.00

CANARA BANK

R.P.ROAD, SECUNDERABAD, Andhra Pradesh - 500003, I 
NDIA

B43633791

6

10365491

22/05/2012

8,000,000.00

CANARA BANK

R.P.ROAD, SECUNDERABAD, Andhra Pradesh - 500003, I 
NDIA

B43632355

7

10320516

08/11/2011

48,700,000.00

SYNDICATE BANK

M G Road, Secunderabad Branch, 1st Floor, Varalax 
mi Complex, MG Road, Secunderabad, Secunderabad, A 
ndhra Pradesh - 500003, INDIA

B26565424

8

10294177

11/06/2011

19,500,000.00

CANARA BANK

R P ROAD, SECUNDERABAD, Andhra Pradesh - 500003, I 
NDIA

B15809460

9

10233314

29/07/2010

5,900,000.00

State Bank of India

Commercial Branch, Bank Street, Koti, Hyderabad, 
Andhra Pradesh - 500095, INDIA

A91536847

10

10201159

06/03/2013 *

901,000,000.00

Canara Bank (Lead Bank)

R P Road, Secunderabad, Andhra Pradesh - 500003, I 
NDIA

B73313280

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULAR

31.03.2015

(Rs. in Millions)

31.03.2014

(Rs. in Millions)

LONG TERM BORROWINGS

 

 

Loan from Financial Institutions

NA

6.840

SHORT TERM BORROWINGS

 

 

From Directors

NA

0.000

 

 

 

Total

NA

6.840

 

 

FIXED ASSETS

 

  • Land and Land Development
  • Buildings
  • Plant and Equipments
  • Office Equipments
  • Furniture and Fixture
  • Vehicle
  • Factory Equipments

 

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. 63.89

UK Pound

1

Rs. 99.10

Euro

1

Rs. 70.12

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

JYO

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

4

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--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

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

YES

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

46

 

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.