MIRA INFORM REPORT
|
Report No. : |
333402 |
|
Report Date : |
27.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
SCOTTS GARMENTS LIMITED (w.e.f. 19.06.2007) |
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|
|
|
Formerly Known
As : |
SCOTTS GARMENTS PRIVATE LIMITED |
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|
Registered
Office : |
481-B, IV Phase, Peenya Industrial
Area, Bangalore – 560058, Karnataka |
|
Tel. No.: |
91-80-41179000 |
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|
|
|
Country : |
India |
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|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
01.03.2002 |
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|
|
|
Com. Reg. No.: |
08-030185 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 284.774 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101KA2002PLC030185 |
|
|
|
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IEC No.: |
0793009014 |
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|
|
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS11395G |
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PAN No.: [Permanent Account No.] |
AAFCS9703C |
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|
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Ready Made Garments. |
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No. of Employees
: |
16500 (Approximately) |
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 |
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|
|
|
Payment Behaviour : |
Usually Correct |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be decent. Rating derives
strength from the experienced promoter and management team. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. In the view of long and good operational track record, subject can be
considered 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
|
Rating Agency Name |
CARE |
|
Rating |
Long term rating = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
28.01.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term rating = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
28.01.2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Chandrashekhar |
|
Designation : |
Assistant General Manager |
|
Contact No.: |
91-7829915852 |
|
Date : |
24.07.2015 |
LOCATIONS
|
Registered Office/ Factory 1 : |
481-B, IV Phase, Peenya Industrial
Area, Bangalore – 560058, Karnataka, India |
|
Tel. No.: |
91-80-41179001/ 41179002/ 41179003/
28363576/ 28360181/ 28361451/ 40858585 |
|
Mobile No.: |
91-7829915852 (Mr. Chandrashekhar) |
|
Fax No.: |
91-80-28362452/ 41179007/ 41272949 |
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E-Mail : |
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|
Website : |
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|
Area : |
62000 sq. ft. |
|
Location : |
Owned |
|
Locality: |
Industrial |
|
|
|
|
Bangalore Units : |
[Factory - 2] No. 535, Patel Channappa Industrial Estate, Hegganahalli, Peenya Industrial
Area, Bangalore – 560091, Karnataka, India [Factory - 3] No. 66, 3rd Stage, Peenya Industrial Area, Bangalore – 560058,
Karnataka, India [Factory - 4] No. 1028/1, Irudayapurm, Pattedalli Road, Robertsonpet, KGF – 563122,
Karnataka, India [Factory - 5] No. V-27, 2nd Stage, 2nd Phase, 7th Main Road, Peenya Industrial
Area, Bangalore – 560058, Karnataka,
India [Factory - 6] No. 22, K.I.A.D.B, KGF Road, Bangarpet – 563114, Karnataka, India [Factory - 7] Plot No. 1, NH-4, Sathyamangala Industrial Area, Behind Bharath Petrol
Bunk, Tumkur – 572103, Karnataka,
India [Factory - 8] No. 5/1, Madanayakanahalli, Tumkur Road, Bangalore – 566123,
Karnataka, India [Factory - 9] No. 2, 1st Phase, Peenya Industrial Area, Jalahalli West, SM Road, Bangalore
– 560015, Karnataka, India [Factory - 10] Plot No. A 353 (A), 8th Main, Peenya II Stage, Peenya Industrial Area,
Bangalore – 560058, Karnataka, India [Factory - 11] No. 36/6, Byraveshwara Indl Area, Hegganahalli, Andrahalli Main Road, Vishwaneedam
Post, Bangalore – 560091, Karnataka, India |
|
|
|
|
Tirupur (Units) : |
[Factory - I] No. 226/1, Dharapuram Road, Pudhur Pirivu, Tirupur – 641608,
Tamilnadu, India [Factory - III] No. 295, IG Colony, Sundamedu, Murugampalayam Post, Vidhalayam Stop,
Tirupur – 641607, Tamilnadu, India [Factory - IV] No. 1/805, Near Lakshana Theatre, Palavanchipalayam Post, Dharapuram
Road, Tirupur – 641608, Tamilnadu, India [Factory - V] No. 137/1A, Dhanalakshmi Rice Mill Compound, Karaipudhur Post, Arulpuram,
Palladam Road, Tirupur – 641605, Tamilnadu, India [Factory - VI] No. 368, Nochipalayam Road, Lakshmi garden, Veerapandi Post, Tirupur –
641605, Tamilnadu, India [Factory - VII] No. 699/2, R.M & Bros., Industrial Complex, Kamaraj Road, Tirupur
– 641604, Tamilnadu, India [Factory - VIII] No. 2/785-B, Mahalakshmi Nagar, Tirupur Main Road, Naranapuram Post,
Palladam (Tk), Palladam – 641664, Tamilnadu, India [Factory - IX] 536/5, Veerapandi, Veerapandi Post, Tirupur – 641605, Tamilnadu, India [Factory - X] No. 643, Kulathupalayam, Near Veerapandi Telephone Exchange,
Veerapandi Post, Tirupur – 641605, Tamilnadu, India [Factory - XI] No. 262 Kangeyam Road, Kulathu Thootam, Vijayapuram Post, Tirupur –
641608, Tamilnadu, India |
DIRECTORS
AS ON 17.11.2014
|
Name : |
Mr. Naseer Ahmed |
|
Designation : |
Managing Director |
|
Address : |
391, 2nd Main, 2nd Cross, 2nd Phase, 80 Feet Road, R M V Extension, Bangalore - 560094, Karnataka, India |
|
Date of Birth/Age : |
22.05.1959 |
|
Qualification : |
B Com |
|
Date of Appointment : |
01.03.2002 |
|
PAN No.: |
ADUPA3854H |
|
DIN No.: |
00027095 |
|
|
|
|
Name : |
Mr. Babugowda Sanganagowda Patil |
|
Designation : |
Director |
|
Address : |
149, 5th Cross, 10th Main, Rajamahal Vilas Extension, Bangalore - 560080, Karnataka, India |
|
Date of Birth/Age : |
20.01.1944 |
|
Qualification : |
I.A.S |
|
Date of Appointment : |
04.07.2007 |
|
DIN No.: |
00061959 |
|
|
|
|
Name : |
Mr. Nuzhat Aisha Naseer |
|
Designation : |
Whole-time director |
|
Address : |
No. 391, 2nd Cross, 2nd Stage, 80 Feet Road, R.M.V. Extension, Bangalore - 560094, Karnataka, India |
|
Date of Birth/Age : |
28.08.1977 |
|
Qualification : |
B Com |
|
Date of Appointment : |
24.04.2002 |
|
PAN No.: |
AEFPN6992P |
|
DIN No.: |
00245176 |
|
|
|
|
Name : |
Mr. Arunachalam Arumugham |
|
Designation : |
Director |
|
Address : |
121, Udani Layout, Cambridge Road, Ulsoor, Bangalore - 560008, Karnataka, India |
|
Date of Birth/Age : |
26.10.1942 |
|
Qualification : |
C.A |
|
Date of Appointment : |
04.05.2006 |
|
DIN No.: |
00350163 |
|
|
|
|
Name : |
Mr. Azeezulla Baig |
|
Designation : |
Director |
|
Address : |
NO.319, B2 Netravathi Block, NGV complex, Koramangala, Banalore - 560009, Karnataka, India |
|
Date of Birth/Age : |
03.07.1947 |
|
Qualification : |
MA, IAS |
|
Date of Appointment : |
12.12.2007 |
|
DIN No.: |
00532908 |
|
|
|
|
Name : |
Mr. Murali Ranganatha Rao Channasamudram |
|
Designation : |
Director |
|
Address : |
561, Srinidhi, Water Tank Road, Katriguppe, BSK 2nd Stage, Bangalore - 560085, Karnataka, India |
|
Date of Birth/Age : |
28.04.1958 |
|
Qualification : |
B.Com, ACA |
|
Date of Appointment : |
12.12.2007 |
|
DIN No.: |
00533104 |
|
|
|
|
Name : |
Mr. Senthilarumugam Thiruvadi |
|
Designation : |
Nominee Director |
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Address : |
A3, 313 Sneha Apts, Godavari Block, National Games Village, Koramangala, Bangalore - 560047, Karnataka, India |
|
Date of Birth/Age : |
23.02.1956 |
|
Date of Appointment : |
08.12.2012 |
|
DIN No.: |
03431263 |
|
|
|
|
Name : |
Mr. Awaiz Ahmed |
|
Designation : |
Director |
|
Address : |
50 B, Sobha Malachite, Sobha Ultima,, Bangalore - 560064, Karnataka, India |
|
Date of Birth/Age : |
25.08.1992 |
|
Date of Appointment : |
11.01.2014 |
|
DIN No.: |
03525404 |
KEY EXECUTIVES
|
Name : |
Mr. Chandrashekhar |
|
Designation : |
Assistant General Manager |
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|
|
|
Name : |
Mr. Thiagarajan Manickam |
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Designation : |
Chief Finance Officer |
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Address : |
F-3, Padmavathy Homes, 7th Main Road,, Puttenahalli, J. P. Nagar, VII Phase, Bangalore - 560078, Karnataka, India |
|
Date of Appointment : |
01.04.2014 |
|
PAN No.: |
AAQPT3706J |
|
|
|
|
Name : |
Mr. Guruswamy Babu |
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Designation : |
Secretary |
|
Address : |
75/7, 1st Main, D Cross, Mathikere, Bangalore - 560051, Karnataka, India |
|
Date of Birth/Age : |
08.10.1959 |
|
Date of Appointment : |
01.08.2007 |
|
PAN No.: |
ALJPG8190K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 17.11.2014
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 17.11.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Venture capital |
6.11 |
|
Bodies
corporate |
36.29 |
|
Directors
or relatives of directors |
54.52 |
|
Other
|
3.08 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Ready Made Garments. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Garments |
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Countries : |
· Italy · UK · Germany · Turkey · France · Austria · Belgium · Switzerland |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
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No. of Employees : |
16500 (Approximately) |
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Bankers : |
· State Bank of India, Peenya Industrial Estate Branch, 2nd Cross, Peenya Industrial Estate, Bangalore – 560058, Karnataka, India · Export-Import Bank of India, Centre One, Floor 21, World Trade Centre Complex Parade, Mumbai - 400005, Maharashtra, India |
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Facilities : |
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|
Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
Siddaiah and Ram Chartered Accountants |
|
Address : |
32/2, I Floor, Lalbagh Main Road, Bangalore – 560027, Karnataka, India |
|
Tel. No.: |
91-80-22221590/ 22242540 |
|
Fax No.: |
91-80-41145464 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AACFS8847B |
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Cost Auditors: |
K.S.Kamalakara and Company Cost Accountants |
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|
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Memberships : |
-- |
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Collaborators : |
-- |
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|
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|
Associates Companies : |
· Coppers Coin Realty Private Limited (U45201KA2009PTC051106) · Inmark Retail Private Limited (U18101KA2008PTC047261) · Scotts Fashionciti India Limited · Scotts Plantations Private Limited · Scotts Metals and Mines Private Limited · Scotts Infrastructure and Development Private Limited · GFI Infrastructure Private Limited · Scotts Apparels Private Limited · Scotts Fashions Private Limited · Scotts Wears Private Limited · Scotts Knits Private Limited ·
Pedigree Construction Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
44,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 440.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28,477,380 |
Equity Shares |
Rs. 10/- each |
Rs. 284.774
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
284.774 |
267.383 |
267.383 |
|
(b) Reserves & Surplus |
2348.190 |
2011.043 |
1275.496 |
|
(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) |
2632.964 |
2278.426 |
1542.879 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
793.891 |
732.663 |
530.554 |
|
(b) Deferred tax liabilities (Net) |
140.035 |
120.803 |
77.517 |
|
(c)
Other long term liabilities |
28.603 |
22.499 |
22.838 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
962.529 |
875.965 |
630.909 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
2047.585 |
1807.952 |
1733.564 |
|
(b)
Trade payables |
531.986 |
685.218 |
670.841 |
|
(c)
Other current liabilities |
401.021 |
303.395 |
252.585 |
|
(d)
Short-term provisions |
80.901 |
116.659 |
93.489 |
|
Total
Current Liabilities (4) |
3061.493 |
2913.224 |
2750.479 |
|
|
|
|
|
|
TOTAL |
6656.986 |
6067.615 |
4924.267 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
2166.059 |
1634.642 |
1189.057 |
|
(ii)
Intangible Assets |
73.773 |
147.546 |
221.319 |
|
(iii)
Capital work-in-progress |
87.319 |
245.349 |
164.563 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
501.536 |
501.884 |
266.500 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
61.429 |
58.123 |
62.917 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
2890.116 |
2587.544 |
1904.356 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2290.926 |
2168.899 |
1657.629 |
|
(c)
Trade receivables |
819.381 |
759.234 |
799.618 |
|
(d)
Cash and cash equivalents |
71.277 |
55.276 |
73.854 |
|
(e)
Short-term loans and advances |
308.889 |
204.868 |
246.762 |
|
(f)
Other current assets |
276.397 |
291.794 |
242.048 |
|
Total
Current Assets |
3766.870 |
3480.071 |
3019.911 |
|
|
|
|
|
|
TOTAL |
6656.986 |
6067.615 |
4924.267 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5675.544 |
5002.546 |
4952.773 |
|
|
|
Other Income |
135.487 |
658.783 |
84.714 |
|
|
|
TOTAL (A) |
5811.031 |
5661.329 |
5037.487 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
3403.040 |
2901.910 |
2211.277 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(111.808) |
(353.898) |
56.944 |
|
|
|
Employees benefits expense |
1037.147 |
977.323 |
1017.843 |
|
|
|
Expenditure on production, transportation and other expenditure pertaining to E&P activities |
342.291 |
369.985 |
589.297 |
|
|
|
Other expenses |
447.766 |
389.894 |
395.124 |
|
|
|
TOTAL (B) |
5118.436 |
4285.214 |
4270.485 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
692.595 |
1376.115 |
767.002 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
185.931 |
208.223 |
149.141 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
506.664 |
1167.892 |
617.861 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
204.499 |
144.212 |
145.206 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
302.165 |
1023.680 |
472.655 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
67.313 |
183.285 |
123.351 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
234.852 |
840.395 |
349.304 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sales |
4792.310 |
4258.480 |
4036.770 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
139.740 |
96.930 |
142.070 |
|
|
|
Stores & Spares |
139.510 |
69.240 |
128.040 |
|
|
|
Capital Goods |
141.470 |
71.130 |
60.480 |
|
|
TOTAL IMPORTS |
420.720 |
237.300 |
330.590 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.64 |
31.43 |
13.06 |
|
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
|
Sales Turnover (Approximately) |
|
7000.000 |
6320.000 |
|
|
|
|
|
The above information has been parted by Mr. Chandrashekhar (Assistant
General Manager).
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current Maturities of Long term debt |
239.232 |
210.354 |
NA |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from (used in) Operations |
295.867 |
897.438 |
152.487 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
4.14 |
16.80 |
7.05 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
12.20 |
27.51 |
15.49 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.98 |
19.24 |
10.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.45 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.17 |
1.21 |
1.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23 |
1.19 |
1.10 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
267.383 |
267.383 |
284.774 |
|
Reserves & Surplus |
1275.496 |
2011.043 |
2348.190 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1542.879 |
2278.426 |
2632.964 |
|
|
|
|
|
|
Long-term borrowings |
530.554 |
732.663 |
793.891 |
|
Short term borrowings |
1733.564 |
1807.952 |
2047.585 |
|
Total
borrowings |
2264.118 |
2750.969 |
3080.708 |
|
Debt/Equity
ratio |
1.467 |
1.207 |
1.170 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
4952.773 |
5002.546 |
5675.544 |
|
|
|
1.005 |
13.453 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
4952.773 |
5002.546 |
5675.544 |
|
Profit |
349.304 |
840.395 |
234.852 |
|
|
7.05% |
16.80% |
4.14% |
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 |
Yes |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
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 |
No |
|
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 |
Yes |
|
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 |
10566035 |
30/03/2015 |
300,000,000.00 |
CANARA
BANK |
PRIME
CORPRATE BRANCH, SHANKAR NARAYANA BUILDING, |
C51983716 |
|
2 |
10550739 |
05/02/2015 |
200,000,000.00 |
CANARA
BANK |
PRIME
CORPORATE BRANCH, SHANKARNARAYANA BUILDING, NO.25, M G ROAD, BANGALORE -
560001, KARNATAKA, INDIA |
C44412682 |
|
3 |
10556004 |
19/01/2015 |
500,000,000.00 |
IDBI
BANK LIMITED |
IDBI
TOWER, WORLD TRADE COMPLEX, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
C47239512 |
|
4 |
10533815 |
14/11/2014 |
48,000,000.00 |
CANARA
BANK |
PRIME CORPORATE
BRANCH, SHANKARNARAYANA BUILDING, NO.25, M G ROAD, BANGALORE - 560001,
KARNATAKA, INDIA |
C35330935 |
|
5 |
10510811 |
07/07/2014 |
100,000,000.00 |
CANARA
BANK |
PRIME
CORPORATE BRANCH, SHANKARNARAYANA BUILDING, NO.25, M G ROAD, BANGALORE -
560001, KARNATAKA, INDIA |
C12977567 |
|
6 |
10506795 |
17/05/2014 |
50,000,000.00 |
CANARA
BANK |
PRIME
CORPORATE BRANCH, SHANKARNARAYANA BUILDING, NO.25, M G ROAD, BANGALORE -
560001, KARNATAKA, INDIA |
C09701624 |
|
7 |
10467070 |
30/11/2013 |
50,000,000.00 |
CANARA
BANK |
PRIME
CORPORATE BRANCH, "SHANKARANARAYANA BUILDING", 25 MG ROAD,
BANGALORE - 560001, KARNATAKA, INDIA |
B92349299 |
|
8 |
10452256 |
13/09/2013 |
300,000,000.00 |
CANARA
BANK |
PRIME CORPORATE
BRANCH, SHANKARANARAYANA BUILDING, 25, MG ROAD, BANGALORE - 560001,
KARNATAKA, INDIA |
B86344686 |
|
9 |
10424470 |
14/03/2013 |
150,000,000.00 |
CANARA
BANK |
PRIME
CORPORATE BRANCH, "SHANKARANARAYANA BUILDING", 25 MG ROAD, BANGALORE
- 560001, KARNATAKA, INDIA |
B74685835 |
|
10 |
10355468 |
28/03/2015
* |
4,607,500,000.00 |
CANARA
BANK |
PRIME
CORPRATE BRANCH, SHANKAR NARAYANA BUILDING, |
C51984185 |
|
11 |
10305091 |
25/08/2011 |
138,800,000.00 |
CANARA
BANK |
PRIME
CORPORATE BRANCH, SHANKARNARAYANA BUILDING, |
B19990191 |
|
12 |
10298437 |
18/06/2011 |
620,000,000.00 |
CANARA
BANK |
PRIME CORPORATE
BRANCH, SHANKARNARAYANA BUILDING, NO.25, M G ROAD, BANGALORE - 560001,
KARNATAKA, INDIA |
B17292210 |
|
13 |
10250809 |
30/10/2010 |
60,000,000.00 |
CANARA
BANK |
PRIME
CORPORATE BRANCH, SHANKARNARAYANA BLDG., NO.28, M G ROAD, BANGALORE - 560001,
KARNATAKA, INDIA |
A98473705 |
|
14 |
10208060 |
07/08/2014
* |
85,000,000.00 |
EXPORT-
IMPORT BANK OF INDIA |
CENTRE
ONE BUILDING, FLOOR 21, WORLD TRADE CENTER, CUFFE PARADE, MUMBAI - 400005,
MAHARASHTRA, INDIA |
C18986596 |
|
15 |
10157745 |
31/03/2009 |
200,000,000.00 |
STATE
BANK OF INDIA |
PEENYA
INDUSTRIAL ESTATE BRANCH, B-96, II CROSS, I STAGE, PEENYA INDUSTRIAL
ESTATE, BANGALORE - 560058, KARNATAKA, INDIA |
A62361191 |
|
16 |
10139282 |
28/03/2013
* |
1,539,400,000.00 |
STATE
BANK OF INDIA |
PEENYA INDUSTRIAL
ESTATE BRANCH, 2ND CROSS, PEENY |
B75693390 |
|
17 |
10172076 |
12/09/2013
* |
3,727,000,000.00 |
CANARA
BANK |
PRIME CORPORATE
BRANCH, SHANKARANARAYANA BUILDING, 25, MG ROAD, BANGALORE - 560001,
KARNATAKA, INDIA |
B88436811 |
|
18 |
10119473 |
04/02/2015
* |
4,307,500,000.00 |
CANARA
BANK |
PRIME
CORPORATE BRANCH, SHANKARNARAYANA BUILDING, NO.25, M G ROAD, BANGALORE -
560001, KARNATAKA, INDIA |
C44416790 |
|
19 |
10144437 |
17/07/2008 |
404,000,000.00 |
STATE
BANK OF INDIA |
PEENYA
INDUSTRIAL ESTATE BRANCH, B-96, II CROSS, |
A55925671 |
|
20 |
10089071 |
18/11/2009
* |
664,000,000.00 |
STATE
BANK OF INDIA |
PEENYA
INDUSTRIAL ESTATE BRANCH, B-96, II CROSS, |
A74829409 |
|
21 |
10086153 |
23/07/2009
* |
350,000,000.00 |
EXPORT-IMPORT
BANK OF INDIA |
CENTRE
ONE BUILDING, FLOOR21, WORLD TRADE CENTRE |
A67333633 |
|
22 |
10017860 |
01/08/2006 |
30,000,000.00 |
CANARA
BANK |
NO.28, OVERSEAS
BRANCH, M G ROAD, BANGALORE - 560001, KARNATAKA, INDIA |
A04214441 |
|
23 |
80001880 |
11/03/2006
* |
28,500,000.00 |
CANARA
BANK |
OVERSEAS
BRANCH, NO.28, M G ROAD, BANGALORE - 560001, KARNATAKA, INDIA |
- |
|
24 |
80001972 |
10/01/2007
* |
457,000,000.00 |
CANARA
BANK |
OVERSEAS
BRANCH, CENTENARY BLDG, NO. 28, M.G.ROAD, BANGALORE - 560001, KARNATAKA,
INDIA |
- |
|
25 |
90152477 |
28/12/1996
* |
177,344,000.00 |
TAMILNAD
MERCANILE BANK LIMITED |
OVERSEAS
BRNCH, 2/3; VALIPALAYAN, TIRUPUR - 641601, KERALA, INDIA |
- |
* Date of charge modification
OPERATIONS
The profit before tax is Rs 302.160 million in the current year compared to Rs.1023.680 million in the previous year. The profit after tax during the current year is Rs.235.09 million compared to Rs.840.390 million (includes 594.920 million from sale of certain share investments) in the previous year. Other income includes Rs.71.800 million towards capital gain on sale of investments (previous year Rs.594.920 million) While the Turnover of the company has increased the profitability of the company declined due to increase in cost of material.
ANALYSIS AND REVIEW:
Although the overall economic environment in world market in general and India in particular has slow down, the Directors took timely decisions to mitigate the effect of such slowdown on the company’s performance. The Company has widened its client base by adding new clients during the year. This has resulted in improved turnover and cash flow for the company.
FUTURE OUTLOOK:
Despite the challenges, the Board of Directors have identified useful and innovative opportunities to steer the company to greater heights during the year. The company is planning to set up additional units at Bangalore. The operations of Wet process/Laundry and Dry process have commenced at Doddaballapur Trouser Plant. The sewing section is in the process of installation. We expect the plant will be fully operational in two month time. The investments made in Doddaballapur project will start earning during the current year. The order book position of the company for both Woven /Denim and Knits is good. Recently we have been approved by GAP buyer. We are exporting to various buyers viz., Best Seller, Gap, Bentton, Zara, Next, H&M, Prime Mark, Gant, S.Group, We Europe, American Eagle and Jones.
The company is now well poised to seize the opportunities and challenges available in the Apparel sector by focusing on the strong domain experience, expertise, state of art of Technology, strong marketing network, foray into new international markets.
FIXED ASSETS:
·
Land
·
Buildings
·
Office Building
·
Other Building
·
Plant and Equipment
·
Factory Equipment’s
·
Other Pollution Reduction Equipment
·
Other Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Motor Vehicles
·
Office Equipment
·
Computer Equipment’s
·
Other Equipment’s
·
Leasehold Improvements
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.63.89 |
|
|
1 |
Rs.99.10 |
|
Euro |
1 |
Rs.70.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
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 |
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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.