MIRA INFORM REPORT
|
Report No. : |
333757 |
|
Report Date : |
30.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
SOUTHFIELD PAINTS LIMITED (w.e.f. 16.07.2003) |
|
|
|
|
Formerly Known
As : |
SOUTH FIELD PAINTS AND CHEMICALS LIMITED (w.e.f. 24.06.2003) SOUTH FIELD PAINTS AND CHEMICALS PRIVATE LIMITED |
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|
|
|
Registered
Office : |
Plot No.33, 34 and 36, Doddanakundi Industrial Area, 2nd
Stage, Off. White Field Road, Mahadevapura Post, Bangalore – 560 048,
Karnataka |
|
Tel. No.: |
91-80-28524512 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
27.09.1972 |
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|
|
|
Com. Reg. No.: |
08-002250 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.38.035
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24222KA1972PLC002250 |
|
|
|
|
IEC No.: |
0700013571 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS17357E |
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|
|
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PAN No.: [Permanent Account No.] |
AACCS6565P |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
Line of Business
: |
Subject is engaged in manufacturing liquid paints and
powder coating paints for industrial use. |
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|
|
|
No. of Employees
: |
110 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
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 : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established company incorporated during the year
1972 having a satisfactory track record. Profit of the company has declined during FY 2014. However, networth of
the company is satisfactory. 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 slow but correct. In view of long standing record and acceptable financial base, the
company 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 |
CRISIL |
|
Rating |
Long-Term Rating: BB |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
25.06.2015 |
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 (GENERAL DETAILS)
|
Name : |
Mr. Vishal |
|
Designation : |
Senior Finance Manager |
|
Contact No.: |
91-80-28524512 |
|
Date : |
28.07.2015 |
LOCATIONS
|
Registered Office : |
Plot No.33, 34 and 36, Doddanakundi Industrial Area, 2nd Stage,
Off. White Field Road, Mahadevapura Post, Bangalore – 560 048, Karnataka,
India |
|
Tel. No.: |
91-80-28524428/ 28524512/ 28524513/ 28524294 |
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Fax No.: |
91-80-28475193 |
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E-Mail : |
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Website : |
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Area : |
3.5 Acres |
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Location : |
Owned |
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Locality : |
Industrial |
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|
|
|
Factory : |
Plot No.102B, 103,
104, 105 and 106, Malur Industrial
Area, 3rd Phase, Kanchikknahalli
Village, Malur Taluk, Kolar District, Karnataka,
India |
DIRECTORS
AS ON 27.09.2014
|
Name : |
Mr. Shivarama
Sheshappa Hegde |
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|
Designation : |
Managing Director |
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|
Address : |
No.303, 6th Main, 2nd Stage Hal, Indiranagar,
Bangalore – 560 038, Karnataka, India |
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|
Date of Birth/ Age : |
02.09.1939 |
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Date of Appointment : |
27.09.1972 |
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DIN No.: |
01682769 |
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Other Directorship :
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Name : |
Mr. Jayanthi
Shivaram Hegde |
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Designation : |
Whole-time Director |
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|
Address : |
No.303, 6th Main, 2nd Stage Hal, Indiranagar, Bangalore
– 560 038, Karnataka, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/ Age : |
28.02.1956 |
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Date of Appointment : |
22.02.1979 |
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DIN No.: |
02156151 |
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Other Directorship :
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|
Name : |
Mrs. Vidya
Hrthpoorna Rai |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
No.303, 6th Main, 2nd Stage Hal, Indiranagar,
Bangalore – 560 038, Karnataka, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/ Age : |
24.06.1974 |
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Date of Appointment : |
31.03.2005 |
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DIN No.: |
01722865 |
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KEY EXECUTIVES
|
Name : |
Mr. Vishal |
|
Designation : |
Senior Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2014
Note:
Shareholding details file attached.
AS ON 27.09.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing liquid paints and
powder coating paints for industrial use. |
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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 Available |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Cash and Cheque |
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Purchasing : |
Cash and Cheque |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Wholesalers, Retailers and End Users
Paints Division ·
Airforce Stations ·
Bharat Electronics Limited ·
Bharat Earth Movers Limited ·
Bharat Heavy Electricals Limited ·
Bharat Dynamics Limited ·
BPL Limited ·
Electronics Corporation of India Limited ·
Hindustan Aeronautics Limited ·
Ingersollrand India Limited ·
Indian Telephone Industries Limited ·
Indian Space Research Organization ·
National Aerospace Laboratories Limited ·
Tata Power Company Limited ·
Vikram Sarabhai Space Centre Powder Division ·
Rittal India Private Limited ·
Geneva Finepunch Enclosures Limited ·
BS Refrigerators Limited ·
Magnetic Electronic Devices Private Limited ·
GE Power Control India Limited ·
MPP Technologies Private Limited ·
IFB Automotive Seating and Systems Limited ·
Tata BP Solar India Limited ·
TTK Prestige Limited ·
Carrier Refrigeration ·
Asea Brown Boveri Limited ·
Krone Communications Limited ·
Exide Industries Limited |
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No. of Employees : |
110 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
L. Krishnamoorthy and Company Chartered Accountants |
|
Address : |
83/A, Srinath Nilayam, 3rd Main, Dollars Colony, BTM 2nd
Stage, Bennergatha Road, Bangalore – 560 076, Karnataka, India |
|
Tel. No.: |
91-80-26789535 |
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Mobile No.: |
91-9448389535 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
ACMPK0637M |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 27.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs.45.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3803504 |
Equity Shares |
Rs.10/- each |
Rs.38.035
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 |
38.035 |
38.035 |
38.035 |
|
(b) Reserves &
Surplus |
92.502 |
89.107 |
77.370 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
2.246 |
2.246 |
2.246 |
|
Total Shareholders’ Funds
(1) + (2) |
132.783 |
129.388 |
117.651 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
116.579 |
109.046 |
77.879 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
116.579 |
109.046 |
77.879 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
26.479 |
23.364 |
15.525 |
|
(b) Trade payables |
30.302 |
24.413 |
32.141 |
|
(c) Other current
liabilities |
28.131 |
12.256 |
1.141 |
|
(d) Short-term provisions |
2.209 |
6.783 |
8.208 |
|
Total Current Liabilities
(4) |
87.121 |
66.816 |
57.015 |
|
|
|
|
|
|
TOTAL |
336.483 |
305.250 |
252.545 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
185.099 |
78.288 |
60.164 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
46.897 |
134.091 |
118.630 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
13.524 |
20.003 |
3.981 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
245.520 |
232.382 |
182.775 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.134 |
0.985 |
0.797 |
|
(b) Inventories |
23.983 |
21.738 |
16.028 |
|
(c) Trade receivables |
58.703 |
43.310 |
50.330 |
|
(d) Cash and cash
equivalents |
2.518 |
1.489 |
1.938 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.426 |
|
(f) Other current assets |
5.625 |
5.346 |
0.251 |
|
Total Current Assets |
90.963 |
72.868 |
69.770 |
|
|
|
|
|
|
TOTAL |
336.483 |
305.250 |
252.545 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations (Net) |
214.475 |
184.467 |
185.056 |
|
|
|
Other Income |
0.537 |
0.543 |
0.465 |
|
|
|
TOTAL |
215.012 |
185.010 |
185.521 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials
consumed |
126.537 |
113.492 |
115.718 |
|
|
|
Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
(3.869) |
(0.430) |
0.404 |
|
|
|
Employee benefit expense |
27.184 |
24.490 |
14.647 |
|
|
|
Other expenses |
22.726 |
18.519 |
25.403 |
|
|
|
TOTAL |
172.578 |
156.071 |
156.172 |
|
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
42.434 |
28.939 |
29.349 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
16.099 |
3.023 |
2.406 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
26.335 |
25.916 |
26.943 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
20.501 |
6.645 |
3.748 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
5.834 |
19.271 |
23.195 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.000 |
6.600 |
8.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
3.834 |
12.671 |
15.095 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
53.603 |
40.932 |
25.837 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
57.437 |
53.603 |
40.932 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
21.391 |
32.024 |
|
|
|
Machineries |
NA |
28.073 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
49.464 |
32.024 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
1.01 |
3.33 |
3.97 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long-term debt |
0.000 |
0.000 |
0.000 |
|
Cash generated
from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.79 |
6.87 |
8.16 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
19.79 |
15.69 |
15.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.01 |
11.26 |
17.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.15 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.08 |
1.02 |
0.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04 |
1.09 |
1.22 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
38.035 |
38.035 |
38.035 |
|
Reserves & Surplus |
77.370 |
89.107 |
92.502 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
2.246 |
2.246 |
2.246 |
|
Net worth |
117.651 |
129.388 |
132.783 |
|
|
|
|
|
|
Long-term borrowings |
77.879 |
109.046 |
116.579 |
|
Short term borrowings |
15.525 |
23.364 |
26.479 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
93.404 |
132.410 |
143.058 |
|
Debt/Equity ratio |
0.794 |
1.023 |
1.077 |
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) |
|
Revenue from Operations (Net) |
185.056 |
184.467 |
214.475 |
|
|
|
-0.318 |
16.267 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Revenue from Operations (Net) |
185.056 |
184.467 |
214.475 |
|
Profit |
15.095 |
12.671 |
3.834 |
|
|
8.16% |
6.87% |
1.79% |
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 |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE:
The registered office of the company has been shifted from #48/2, J.C. Road, Bangalore – 560 002, Karnataka to the present address w.e.f. 15.07.2007.
CORPORATE
INFORMATION:
Subject has been incorporated in the year 1972, with an object of
manufacturing liquid paints and powder coating paints for industrial use. The company is presently manufacturing
Thinners, Primers, Acrylic Paints and Hybrid and Pure Polyester Powder Coatings
their products are mainly used in industrial segment and not in domestic or
residential segments. They supply their products mainly to HAL, Air force
Stations and BEL etc. their paints are used in Painting of Aircrafts and
Helicopters and also for other industrial purposes.
INDEX
OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge Creation/
Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10578602 |
12/06/2015 |
5,000,000.00 |
BANK OF INDIA |
BANGALORE MAIN BRANCH,
KEMPEGOWDA ROAD, BANK OF INDIA BUILDING, NO.11, BANGALORE, KARNATAKA -
560009, INDIA |
C58252305 |
|
2 |
10066537 |
18/08/2007 * |
3,600,000.00 |
BANK OF INDIA |
BANGALORE MAIN BRANCH, K
G ROAD, BANGALORE, KARNATAKA - 560009, INDIA |
A30802698 |
|
3 |
90189539 |
03/01/2002 |
27,965,000.00 |
BANK OF INDIA |
11 K.G. ROAD, BANGALORE,
KARNATAKA - 560009, INDIA |
- |
|
4 |
90194084 |
27/03/1997 |
384,000.00 |
BANK OF INDIA |
K.G. ROAD, BANGALORE,
KARNATAKA - 560009, INDIA |
- |
|
5 |
90190125 |
26/03/2014 * |
187,000,000.00 |
BANK OF INDIA |
BANGALORE MAIN BRANCH,
NO.11, K G ROAD, BANGALORE, KARNATAKA - 560011, INDIA |
C03801461 |
|
6 |
90193278 |
03/01/2002 * |
2,100,000.00 |
BANK OF INDIA |
11 K.G. ROAD, BANGALORE, KARNATAKA
- 560009, INDIA |
- |
|
7 |
90193220 |
03/02/1986 |
100,000.00 |
BANK OF INDIA |
11 K.G. ROAD, BANGALORE,
KARNATAKA - 560009, INDIA |
- |
|
8 |
90193131 |
30/12/1982 |
600,000.00 |
BANK OF INDIA |
11 K.G. ROAD, BANGALORE,
KARNATAKA - 560009, INDIA |
- |
|
9 |
90189832 |
11/09/1985 * |
1,150,000.00 |
BANK OF INDIA |
11 K.G. ROAD, BANGALORE,
KARNATAKA - 560009, INDIA |
- |
|
10 |
90189775 |
16/07/1981 |
550,000.00 |
BANK OF INDIA |
11 K.G. ROAD, BANGALORE,
KARNATAKA - 560009, INDIA |
- |
|
11 |
90193114 |
11/09/1985 * |
1,250,000.00 |
BANK OF INDIA |
11 K.G. ROAD, BANGALORE,
KARNATAKA - 560009, INDIA |
- |
|
12 |
90193083 |
11/09/1985 * |
1,150,000.00 |
BANK OF INDIA |
11 K.G. ROAD, BANGALORE,
KARNATAKA - 560009, INDIA |
- |
|
13 |
90189735 |
27/02/1987 * |
1,950,000.00 |
BANK OF INDIA |
11 K.G. ROAD, BANGALORE,
KARNATAKA - 560009, INDIA |
- |
|
14 |
90189726 |
13/10/1978 |
16,000.00 |
BANK OF INDIA |
11 K.G. ROAD, BANGALORE,
KARNATAKA - 560009, INDIA |
- |
|
15 |
90189708 |
14/01/1978 |
33,000.00 |
BANK OF INDIA |
11 K.G. ROAD, BANGALORE,
KARNATAKA, INDIA |
- |
|
16 |
90189684 |
14/01/1976 |
20,000.00 |
BANK OF INDIA |
K.G. ROAD, BANGALORE,
KARNATAKA - 560009, INDIA |
- |
|
17 |
90193063 |
14/01/1976 |
70,000.00 |
BANK OF INDIA |
BANGALORE BRANCH,
BANGALORE, KARNATAKA, INDIA |
- |
|
18 |
90193056 |
11/09/1985 * |
1,250,000.00 |
BANK OF INDIA |
11 K.G. ROAD, BANGALORE,
KARNATAKA - 560009, INDIA |
- |
|
19 |
90189657 |
30/12/1982 * |
650,000.00 |
BANK OF INDIA |
11 K.G. ROAD, BANGALORE,
KARNATAKA - 560009, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Buildings
·
Plants and Machinery
·
Electrical Installation
·
Office Equipments
·
Computer
·
Vehicles
·
Furniture and Fixtures
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.99.71 |
|
Euro |
1 |
Rs.70.63 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.