MIRA INFORM REPORT
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Report No. : |
334351 |
|
Report Date : |
29.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHUBHALAKSHMI POLYESTERS LIMITED |
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Registered
Office : |
401, A-Wing, Oberoi Chambers, Near Kuber, Andheri Link Road, Andheri
(West), Mumbai – 400053, Maharashtra |
|
Tel. No.: |
91-22-26744375 |
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|
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
13.09.2005 |
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Com. Reg. No.: |
11-190937 |
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Capital
Investment / Paid-up Capital : |
Rs.363.750 Million |
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|
|
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CIN No.: [Company Identification
No.] |
U17110MH2005PLC190937 |
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IEC No.: |
5203006822 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAJCS2757C |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The Subject is engaged in the Manufacturing of POY Yarn, Texturized yarn, DT Yarn, FDY Carrying on Twisting Process of Yarn and Subject has also started Manufacturing of Polyester Chips |
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|
|
No. of Employees
: |
1000 (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 |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company incorporated during the year 2005
having a satisfactory track record. The company is progressing well, general financial position of the
company is normal and acceptable for business dealings. Further the rating also takes into consideration favorable gap between
trade payable and trade receivable. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. In view of 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term loan= BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
24.04.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities= A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
24.04.2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Sanjay |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-26744375 |
|
Date : |
28.07.2015 |
LOCATIONS
|
Registered/ Corporate Office : |
401, A-Wing, Oberoi Chambers, Near Kuber, Andheri Link Road, Andheri
(West), Mumbai – 400053, Maharashtra, India |
|
Tel. No.: |
91-22-26744375 / 6 |
|
Fax No.: |
91-22-26744377 |
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E-Mail : |
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|
Website : |
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Location: |
Owned |
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|
|
|
Head Office : |
418, Jeevandeep Complex, Opposite J. K. Tower, Ring Road, Surat – 395002, Gujarat, India |
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Tel No.: |
91-261-2354402/3 |
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Fax No.: |
91-261-2354401 |
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E-mail Id : |
|
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Factory 1: |
Survey No.179/1/2, Village: Silli, Silvassa – 396230, Union Territory of Dadra and Nagar Haveli, India |
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Tel. No.: |
91-260-3253441 / 42 |
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Fax No.: |
91-260-2632939 |
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E-Mail : |
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Factory 2: |
376/2, 16-17-22, Opposite Rishi Packer, Kachigam, Union Territory of Daman and Diu, India |
|
Tel No.: |
91-260 - 2240117 / 2241535 |
|
|
|
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Factory 3 : |
Survey No 126, Dahej PCPIR Dist Bharuch, Bhensali -392131, Gujarat, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Ajay Agarwal |
|
Designation : |
Managing Director |
|
Address : |
A-302, Nanadigram Apartments, Ghod Dod Road, Opposite Parle Point,
Surat-395001, Gujarat, India |
|
Date of Birth/Age : |
23.02.1963 |
|
Date of Appointment : |
01.04.2012 |
|
PAN No.: |
AACPA1348P |
|
DIN No.: |
00088953 |
|
|
|
|
Name : |
Mr. Vikas Agarwal |
|
Designation : |
Director |
|
Address : |
51-A, Royal Accord IV Apnaghar Layout, Lokhandwala, Andheri (West),
Mumbai-400053, Maharashtra, India |
|
Date of Birth/Age : |
30.08.1981 |
|
Date of Appointment : |
01.04.2012 |
|
PAN No.: |
ADVPA1863D |
|
DIN No.: |
00089659 |
|
|
|
|
Name : |
Mr. Ramu Raman Late Babulal Agarwal |
|
Designation : |
Director |
|
Address : |
51-A, Royal Accord IV Apnaghar Layout, Lokhandwala, Andheri (West),
Mumbai-400053, Maharashtra, India |
|
Date of Birth/Age : |
22.11.1949 |
|
Date of Appointment : |
30.06.2011 |
|
DIN No.: |
00203860 |
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|
|
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Name : |
Mr. Manoj Agarwal |
|
Designation : |
Director |
|
Address : |
41-Royal Accord, 4th Floor, Opposite Lokhandwala Complex, Andheri
(West) Mumabi-400090, Maharashtra, India |
|
Date of Birth/Age : |
16.08.1977 |
|
Date of Appointment : |
13.09.2005 |
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PAN No.: |
AAKPA6827F |
|
DIN No.: |
00267951 |
KEY EXECUTIVES
|
Name : |
Mr. Nishi Mukesh Vijay Vargiya |
|
Designation : |
Company Secretary |
|
Address : |
1306-D Block, Ambedkar Nagar, Senapati BApat Marg, Elphinstone (West), Mumbai-400013, Maharashtra, Indi |
|
Date of Birth/Age : |
08.02.1985 |
|
Date of Appointment : |
10.07.2014 |
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PAN No.: |
AHLPV5883G |
|
|
|
|
Name : |
Mr. Sanjay Jain |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Ajaykumar Agarwal |
846020 |
|
Bankesh Chandra Agarwal |
748445 |
|
Ramu Raman Agarwal |
737392 |
|
Manoj Kumar Agarwal |
563000 |
|
Vikas Agarwal |
526333 |
|
Shailendra Chaudhary |
34333 |
|
Vikram Chaudhary |
1000 |
|
Shubhlaxmi Dyetex Private Limited, India |
31566072 |
|
Ajay Kumar Agarwal –HUF |
97523 |
|
Babulal Agarwal –HUF |
54028 |
|
Bankesh Chandra Agarwal –HUF |
68334 |
|
Ramau Raman Agarwal - HUF |
162053 |
|
Gayatri Devi Agarwal |
136787 |
|
Kanta Agarwal |
3000 |
|
Narangi Devi Agarwal |
99000 |
|
Suman Agarwal |
399825 |
|
Chandra Choudhary |
12500 |
|
Shubhalakshmi Petro-Yarns Private Limited, India |
841337 |
|
Shyam Sunder Choudhary |
1000 |
|
Ravindra Choudhary |
1000 |
|
Sunil Agarwal |
1000 |
|
Raghuvendra Agarwal |
1000 |
|
Shankarlal Saini |
1000 |
|
Samridhi Global Industries Private Limited |
2835400 |
|
|
|
|
TOTAL
|
39737382 |
Equity Share Breakup
AS ON 30.09.2014
|
Category |
Percentage of Holding |
|
Bodies
corporate |
88.69 |
|
Directors
or relatives of directors |
11.17 |
|
Other top fifty shareholders |
0.14 |
|
|
|
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Subject is engaged in the Manufacturing of POY Yarn, Texturized yarn, DT Yarn, FDY Carrying on Twisting Process of Yarn and Subject has also started Manufacturing of Polyester Chips |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
L/C, Cash |
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Purchasing : |
L/C, Cash |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
· State Bank of India - State Bank of India, BOB- Parsi, Sheri BR SBI - Special Commercial BR, Surat – 395003, Gujarat, India · IDBI Bank Limited, Essen House, Ghod Dod Road, Surat - 395007, Gujarat, India · Allahabad Bank · IDBI Bank · Axis Bank Limited · Kotak Mahindra Bank · State Bank of Travancore |
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Facilities : |
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Auditors : |
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Name : |
Pradeep Singhi and Associates Chartered Accountants |
|
Address : |
A/501, President Plaza, Near RTO, Ring Road, Nanpura, Surat, Gujarat, India |
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PAN No: |
ADRPS1701L |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
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Holding Company : |
Shubhlaxmi
Dyetex Private Limited [U17119GJ1991PTC014906] |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45000000 |
Equity Shares |
Rs.10/- each |
Rs. 450.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
39737382 |
Equity Shares |
Rs.10/- each |
Rs. 397.374
Million |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs. 400.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
36374988 |
Equity Shares |
Rs.10/- each |
Rs. 363.750
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
363.750 |
339.917 |
246.977 |
|
(b) Reserves &
Surplus |
2015.464 |
1755.144 |
1073.423 |
|
(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) |
2379.214 |
2095.061 |
1320.400 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
3023.394 |
3214.659 |
2257.401 |
|
(b) Deferred tax
liabilities (Net) |
283.463 |
200.536 |
136.660 |
|
(c) Other long term
liabilities |
396.164 |
283.664 |
66.423 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
3703.021 |
3698.859 |
2460.484 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2581.963 |
1350.044 |
460.023 |
|
(b) Trade payables |
1371.937 |
1697.274 |
514.039 |
|
(c) Other current
liabilities |
483.992 |
263.687 |
239.304 |
|
(d) Short-term provisions |
194.070 |
149.106 |
110.367 |
|
Total Current Liabilities
(4) |
4631.962 |
3460.111 |
1323.733 |
|
|
|
|
|
|
TOTAL |
10714.197 |
9254.031 |
5104.617 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
5280.609 |
5162.231 |
1566.406 |
|
(ii) Intangible Assets |
0.524 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
4.284 |
7.072 |
1845.567 |
|
(iv) Intangible assets
under development |
4.272 |
40.733 |
30.668 |
|
(b) Non-current Investments |
31.462 |
35.101 |
35.093 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
40.868 |
33.535 |
22.134 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
5362.019 |
5278.672 |
3499.868 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
2.636 |
2.627 |
53.025 |
|
(b) Inventories |
1242.243 |
1345.803 |
373.126 |
|
(c) Trade receivables |
2343.067 |
1622.390 |
722.559 |
|
(d) Cash and cash equivalents |
1001.248 |
376.191 |
268.948 |
|
(e) Short-term loans and
advances |
760.493 |
625.364 |
185.353 |
|
(f) Other current assets |
2.491 |
2.984 |
1.738 |
|
Total Current Assets |
5352.178 |
3975.359 |
1604.749 |
|
|
|
|
|
|
TOTAL |
10714.197 |
9254.031 |
5104.617 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
Income |
21544.708 |
7504.468 |
5669.152 |
|
|
|
Other Income |
9.791 |
4.510 |
8.808 |
|
|
|
TOTAL (A) |
21554.499 |
7508.978 |
7508.978 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
Cost of Materials
Consumed |
18583.319 |
6437.743 |
4709.905 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(18.064) |
(151.332) |
(62.781) |
|
|
|
Employees benefits
expense |
258.261 |
127.219 |
97.475 |
|
|
|
Other expenses |
1410.995 |
625.510 |
538.131 |
|
|
|
TOTAL (B) |
20234.511 |
7039.140 |
5282.730 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
1319.988 |
469.838 |
395.230 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
823.712 |
166.059 |
102.354 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
496.276 |
303.779 |
292.876 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
286.666 |
111.431 |
94.666 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
209.610 |
192.348 |
198.210 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
9.358 |
(0.023) |
33.847 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
200.252 |
192.371 |
164.363 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
5.51 |
5.66 |
6.65 |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
23000.000 |
The above information has been parted by Mr. Sanjay (Accountant)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
482.766 |
330.942 |
215.570 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
(254.428) |
(106.556) |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
0.93 |
2.56 |
2.90 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
6.13 |
6.26 |
6.97 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
1.96 |
2.10 |
6.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.09 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.56 |
2.34 |
2.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.16 |
1.15 |
1.21 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs. In
Million |
Rs.
In Million |
|
Share Capital |
246.977 |
339.917 |
363.750 |
|
Reserves & Surplus |
1073.423 |
1755.144 |
2015.464 |
|
Net
worth |
1320.400 |
2095.061 |
2379.214 |
|
|
|
|
|
|
long-term borrowings |
2257.401 |
3214.659 |
3023.394 |
|
Short term borrowings |
460.023 |
1350.044 |
2581.963 |
|
Current Maturities of Long term debt |
215.570 |
330.942 |
482.766 |
|
Total
borrowings |
2932.994 |
4895.645 |
6088.123 |
|
Debt/Equity
ratio |
2.221 |
2.337 |
2.559 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales |
5669.152 |
7504.468 |
21544.708 |
|
|
|
32.374 |
187.092 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales
|
5669.152 |
7504.468 |
21544.708 |
|
Profit |
164.363 |
192.371 |
200.252 |
|
|
2.90% |
2.56% |
0.93% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
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) |
No |
|
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 |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS:
|
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CHANGE OF ADDRESS
The Registered Office of the company has been shifted from “418
Jeevandeep Complex, Opposite J.K. Tower Ring road, Surat – 395002, Gujarat,
India” to present w.e.f 23.02.2009.
OPERATIONS:
The company has
started production in Dahej unit, Dahej unit is producing PET Chips and POY /
FDY, due to which Companies sales has mainly increased from 7504.500 Million to
21544.700 Million.
This new Dahej
Unit production helps company to manufacture PET Chips and POY / FDY from
direct spinning of PTA & MEG. PET chips manufactured in the unit has
partially consumed as a raw material for manufacturing of POY, FDY & Mother
yarn in existing unit.
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 Rs.
in Million |
31.03.2013 Rs.
in Million |
|
Long Term
Borrowings |
|
|
|
Deposits from directors |
1.500 |
6.796 |
|
Loans and advances from related parties |
0.000 |
100.000 |
|
|
|
|
|
TOTAL
|
1.500 |
106.796 |
INDEX OF CHARGES
|
S. No. |
Charge Id |
Date Of Charge Creation/Modification |
Charge Amount Secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10455072 |
05/10/2013 |
5,387,200,000.00 |
BANK OF BARODA |
PARSI SHERI BRANCH, SURAT - 395003, GUJARAT, INDIA |
B87492393 |
|
2 |
10455073 |
05/10/2013 |
5,387,200,000.00 |
BANK OF BARODA |
PARSI SHERI BRANCH, SURAT - 395003, GUJARAT, INDIA |
B87491700 |
|
3 |
10432231 |
17/06/2013 |
500,000,000.00 |
BANK OF BARODA |
PARSI SHERI BRANCH, SURAT - 395003, GUJARAT, INDIA |
B77561694 |
|
4 |
10359331 |
06/06/2012 |
58,500,000.00 |
IDBI BANK LIMITED |
IDBI TOWER WTC COMPLEX, CUFFE PARADE, MUMBAI, BRANCH AT 2ND FLOOR, ESSEN HOUSE, GHOD DOD ROAD, SURAT - 395009, GUJARAT, INDIA |
B41088253 |
|
5 |
10358963 |
11/05/2012 |
150,000,000.00 |
STATE BANK OF TRAVANCORE |
RAJHANS COMPLEX, OPP. J.K TOWER, RING ROAD, SURAT, SURAT - 395002, GUJARAT, INDIA |
B40909608 |
|
6 |
10201640 |
01/02/2010 |
89,000,000.00 |
IDBI BANK LIMITED |
ESSEN HOUSE, GHOD DOD ROAD, SURAT - 395007, GUJARAT, INDIA |
A79150314 |
|
7 |
10009861 |
16/06/2013 * |
113,600,000.00 |
STATE BANK OF INDIA |
MID CORPORATE GROUP
INDUSTRIAL FINANCE BRANCH, MARBLE ARCH, RACE COURSE CIRCLE, VADODARA - |
B79181020 |
|
8 |
10007280 |
30/01/2013 * |
7,369,600,000.00 |
BANK OF BARODA |
PARSI SHERI BRANCH, SURAT - 395003, GUJARAT, INDIA |
B67573303 |
|
9 |
90094980 |
28/06/1997 |
11,700,000.00 |
BANK OF BARODA |
PARSI SHERI BRANCH, SURAT - 395003, GUJARAT, INDIA |
- |
|
10 |
90243086 |
12/04/1991 |
4,750,000.00 |
STATE BANK OF INDIA |
SP COMM. BRNCH, SURAT, GUJARAT, INDIA |
- |
* Date of charge modification
FIXED ASSETS
· Land and Buildings
· Plant and Equipment
· Furniture and Fixtures
· Motor Vehicles
· Office Equipment
· Computer Equipments
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.64.03 |
|
|
1 |
Rs.99.72 |
|
Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--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 |
YES |
|
--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 |
NO |
|
--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 |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.