MIRA INFORM REPORT
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Report No. : |
324678 |
|
Report Date : |
05.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
ROLEX LANOLIN PRODUCTS LIMITED |
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|
|
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Registered
Office : |
‘Rolex House’, Level 1, 114, Old Tejpal Industrial Estate, Andheri -
Kurla Road, Sakinaka, Andheri (East), Mumbai – 400072, Maharashtra |
|
Tel. No.: |
91-22-28512345 |
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|
|
Country : |
India |
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|
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
30.03.1990 |
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Com. Reg. No.: |
11-056023 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.900 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U24110MH1990PLC056023 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR14573G |
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|
|
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PAN No.: [Permanent Account No.] |
AAACR3499P |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Supplier of lanolin and allied products, various
types of grades and specifications. |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 130000 |
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|
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is established company incorporated in the year 1990 and it’s
having satisfactory track record. Company manufactures and supplies lanolin and its allied products of
various types, grades and specifications. During the year 2014, company have reported minimal decline in its
sales turnover but it has able to maintain its profitability margin at 5.62%. The rating however favorable factor in long standing experience of the
promoter and established track record of the company in manufacturing of
lanolin products. Trade relation are fair. Business is active. Payment are reported to
be slow but correct. In view of sound financial base, the company can be considered for the
business with its 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 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Rating (BB-) |
|
Rating Explanation |
Inadequate Credit Quality and High Credit
Risk. |
|
Date |
September, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Rating (A4) |
|
Rating Explanation |
Minimal Degree of Safety and Very High
Credit Risk. |
|
Date |
September, 2014 |
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 DENIED
MANAGEMENT NON CO-OPERATIVE
CONTACT NO.: 91-22-28512345
LOCATIONS
|
Registered Office / Corporate Office / Head Office : |
Rolex House’, Level 1, 114, Old Tejpal Industrial Estate, Andheri -
Kurla Road, Sakinaka, Andheri (East), Mumbai – 400072, Maharashtra, India |
|
Tel. No.: |
91-22-28512345 / 22012345 |
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Fax No.: |
91-22-28517777 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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|
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City Liason Office : |
52/58 Babu Genu Road, Level 1, 24-26 Jivraj Shamji
Building, Off Princess Street, Mumbai – 400072, Maharashtra, India. |
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Tel. No.: |
91-22-22012345 |
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Fax No.: |
91-22-22015950 |
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Factory 1 : |
Unit No. 14, Ground Floor, New Tejpal Industrial Premises, Co-operative Society Limited, Sakinaka, Andheri Kurla Road, Andheri (East), Opposite –Tech Plaza, Mumbai – 400072, Maharashtra, India |
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Factory 2 : |
Plot No. 6309, Phase IV, G.I.D.C., Near Pumphouse Phase
III, Vapi, |
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Warehouse : |
Located at ·
Antop Hill ·
Sewree ·
Bhiwandi |
DIRECTORS
As on 20.08.2014
|
Name : |
Mr. Hasmukhlal Nathalal Zaveri |
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Designation : |
Director |
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Address : |
8/B, Giriraj, 11, Altmount Road, S.K Barodwala Marge, Mumbai – 400
026, Maharashtra, India |
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Date of Birth/Age : |
19.06.1939 |
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Date of Appointment : |
03.11.1990 |
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DIN No.: |
00861250 |
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Other Directorship:
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Name : |
Mr. Hasit Hasmukh Zaveri |
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Designation : |
Director |
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|
Address : |
8/B, Giriraj, 11, Altmount Road, S.K Barodwala Marge, Mumbai – 400
026, Maharashtra, India |
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Date of Birth/Age : |
24.08.1965 |
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Date of Appointment : |
13.03.1990 |
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DIN No.: |
00861184 |
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Other Directorship:
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Name : |
Mrs. Hansa Hasmukhlal Zaveri |
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Designation : |
Director |
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|
Address : |
8/B, Giriraj, 11, Altmount Road, S.K Barodwala Marge, Mumbai – 400 026,
Maharashtra, India |
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Date of Birth/Age : |
31.01.1941 |
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Date of Appointment : |
13.03.1990 |
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DIN No.: |
00117557 |
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Other Directorship:
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Name : |
Mrs. Falguni Hasit Zaveri |
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Designation : |
Director |
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|
Address : |
8/B, Giriraj, 11, Altmount Road, S.K Barodwala Marge, Mumbai – 400
026, Maharashtra, India |
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Date of Birth/Age : |
31.01.1941 |
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Date of Appointment : |
13.03.1990 |
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DIN No.: |
00117604 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 20.08.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Hansa Hasmukhlal Zaveri |
155640 |
28.82 |
|
Hasit Hasmukh Zaveri |
155640 |
28.82 |
|
Hasmukhlal Nathalal Zaveri |
125034 |
23.15 |
|
Falguni Hasit Zaveri |
103686 |
19.20 |
|
Total |
540000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 20.08.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of lanolin and allied products, various
types of grades and specifications. |
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Products : |
Not Available |
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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 : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Vora and Associates Chartered Accountants |
|
Address : |
103, Rewa Chambers, 31, New Marine Lines, Mumbai – 400 020, Maharashtra,
India |
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Tel. No.: |
91-22-22005934 / 22031110 |
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Fax No.: |
91-22-22063289 |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACFV6555H |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Related Parties : |
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CAPITAL STRUCTURE
As on 20.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3990000 |
Equity Shares |
Rs.10/- each |
Rs. 39.900 Million |
|
10000 |
Preference Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
|
Total |
|
Rs. 40.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
540000 |
Equity Shares |
Rs.10/- each |
Rs. 5.400
Million |
|
|
|
|
|
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3990000 |
Equity Shares |
Rs.10/- each |
Rs. 39.900 Million |
|
10000 |
Preference Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
|
Total |
|
Rs. 40.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90,000 |
Equity Shares |
Rs.10/- each |
Rs. 0.900
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 |
0.900 |
0.900 |
0.900 |
|
(b) Reserves & Surplus |
44.488 |
31.879 |
22.528 |
|
(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) |
45.388 |
32.779 |
23.428 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
38.485 |
5.537 |
7.091 |
|
(b) Deferred tax liabilities (Net) |
1.458 |
0.913 |
0.975 |
|
(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) |
39.943 |
6.450 |
8.066 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
35.264 |
34.507 |
4.637 |
|
(b) Trade
payables |
12.383 |
10.621 |
5.987 |
|
(c) Other current
liabilities |
3.530 |
2.949 |
4.211 |
|
(d) Short-term
provisions |
1.053 |
0.932 |
1.235 |
|
Total Current
Liabilities (4) |
52.230 |
49.009 |
16.070 |
|
|
|
|
|
|
TOTAL |
137.561 |
88.238 |
47.564 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
64.399 |
10.635 |
11.758 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
9.247 |
7.431 |
3.056 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
5.100 |
5.100 |
5.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
11.552 |
4.201 |
4.472 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
90.298 |
27.367 |
24.386 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
16.993 |
29.739 |
5.274 |
|
(c) Trade
receivables |
24.514 |
25.327 |
14.611 |
|
(d) Cash
and cash equivalents |
2.334 |
1.946 |
2.226 |
|
(e)
Short-term loans and advances |
3.422 |
3.859 |
1.067 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
47.263 |
60.871 |
23.178 |
|
|
|
|
|
|
TOTAL |
137.561 |
88.238 |
47.564 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue From Operation |
241.952 |
261.888 |
148.773 |
|
|
|
Other Income |
0.962 |
0.460 |
0.170 |
|
|
|
TOTAL |
242.914 |
262.348 |
148.943 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
141.656 |
174.019 |
75.243 |
|
|
|
Purchases of Stock-in-Trade |
39.286 |
38.019 |
22.396 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
7.058 |
(12.731) |
5.175 |
|
|
|
Employees benefits expense |
14.222 |
13.308 |
12.374 |
|
|
|
Other expenses |
25.731 |
31.025 |
20.041 |
|
|
|
Extraordinary Items |
(8.626) |
0.000 |
0.000 |
|
|
|
TOTAL |
219.327 |
243.640 |
135.229 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
23.587 |
18.708 |
13.714 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
6.138 |
3.303 |
3.907 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
17.449 |
15.405 |
9.807 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
1.360 |
1.327 |
1.242 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
16.089 |
14.078 |
8.565 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.469 |
4.727 |
2.668 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
13.662 |
9.351 |
5.897 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
30.136 |
20.785 |
14.888 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
Transfer to General Reserve |
1.366 |
0.000 |
0.000 |
|
|
|
Dividend |
0.900 |
0.000 |
0.000 |
|
|
|
Tax on Dividend |
0.153 |
0.000 |
0.000 |
|
|
|
Total |
2.419 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Balance Carried to the B/S |
41.379 |
30.136 |
20.785 |
|
|
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
|
F.O.B. Value of Exports |
39.007 |
40.247 |
30.191 |
|
|
|
Income from sale of services |
0.000 |
0.000 |
0.546 |
|
|
|
TOTAL EARNINGS |
39.007 |
40.247 |
30.737 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
Raw Materials |
16.969 |
46.479 |
9.729 |
|
|
|
Components and Stores parts |
31.301 |
31.983 |
17.275 |
|
|
|
TOTAL
IMPORTS |
48.270 |
78.462 |
27.004 |
|
|
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
|
|
|
|
|
|
Basic
|
55.95 |
103.90 |
65.53 |
|
|
|
Diluted
|
151.80 |
103.90 |
65.53 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.835 |
1.154 |
2.920 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
5.65 |
3.57 |
3.96 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
9.75 |
7.14 |
9.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.06 |
18.60 |
21.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35 |
0.43 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.64 |
1.26 |
0.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.90 |
1.24 |
1.44 |
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 |
0.900 |
0.900 |
0.900 |
|
Reserves & Surplus |
22.528 |
31.879 |
44.488 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
23.428 |
32.779 |
45.388 |
|
|
|
|
|
|
long-term borrowings |
7.091 |
5.537 |
38.485 |
|
Short term borrowings |
4.637 |
34.507 |
35.264 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
2.920 |
1.154 |
0.835 |
|
Total
borrowings |
14.648 |
41.198 |
74.584 |
|
Debt/Equity
ratio |
0.625 |
1.257 |
1.643 |
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 |
148.773 |
261.888 |
241.952 |
|
|
|
76.032 |
(7.612) |
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 |
148.773 |
261.888 |
241.952 |
|
Profit |
5.897 |
9.351 |
13.662 |
|
|
3.96% |
3.57% |
5.65% |
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 |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
No |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
From Bank |
6.308 |
5.537 |
|
Total |
6.308 |
5.537 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10456325 |
18/10/2013 |
83,500,000.00 |
UNION BANK OF INDIA |
PRINCESS STREET BRANCH,, DEVKARAN MANSION, SHAMAL |
B88058854 |
|
2 |
10300839 |
18/10/2013 * |
136,000,000.00 |
UNION BANK OF INDIA |
PRINCESS STREET BRANCH,, DEVKARAN MANSION, SHAMAL |
B88058615 |
|
3 |
10307524 |
28/07/2011 |
35,000,000.00 |
UNION BANK OF INDIA |
PRINCESS STREET BRANCH,, DEVKARAN MANSION, SHAMAL |
B21112099 |
|
4 |
10392190 |
04/02/2014 * |
138,500,000.00 |
UNION BANK OF INDIA |
PRINCESS STREET BRANCH,, DEVKARAN MANSION, SHAMAL |
B96184734 |
|
5 |
90215736 |
22/03/2002 * |
6,500,000.00 |
UNION BANK OF INDIA |
PRINCESS STREET BRANCH, DEVJKARAN MANSION; GANDHI |
- |
|
6 |
90214643 |
01/12/1996 |
622,000.00 |
ANZ GRINDLAYS BANK LTD. |
270; DN ROAD, MUMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
7 |
90215433 |
09/03/1995 |
553,800.00 |
UNION BANK OF INDIA |
PRINCESS STREET BRANCH, DEVJKARAN MANSION; GANDHI |
- |
|
8 |
80063797 |
28/10/1994 |
1,000,000.00 |
UNION BANK OF INDIA |
PRINCESS STREET BRANCH, DEVKARAN MANSION SAMALDAS |
- |
|
9 |
90215415 |
22/03/2002 * |
500,000.00 |
UNION BANK OF INDIA |
PRINCESS STREET BRANCH, DEVJKARAN MANSION;S. GAND |
- |
|
10 |
90215324 |
17/09/1992 |
112,000.00 |
UNION BANK OF INDIA |
PRINCESS STREET BRANCH, DEVJKARAN MANSION;S. GAND |
- |
OPERATIONS
The Sales & Operating Income during the year has decreased from Rs.262.300 Million to Rs.242.900 Million during the year under consideration. The Net profit before taxes is Rs.16.009 Million (P.Y.Rs. 14.078 Million).
The profits during the year include an extraordinary Item in the nature of sale of business premises of Rs.8.626 Million. The Current Year 2013-2014 has seen a sharp downward price movement for the company’s product (Lanolin) as well as the raw material use by the company i.e. Wool Grease, the same Trend Has been Continued during financial year 2014-2015
The company has completed and commenced the factory buildings at Vapi, in Gujrat, while the Plant & Machinery ordered is under installation, erection and commissioning.
M/s. EURO POLYTHENE PRIVATE LIMITED, a 100% subsidiary is in the process of merger with their company and the said merger will take place within the first half of F.Y. 2014-2015.
FIXED ASSETS
- Free Hold
Land
- Building
- Factory
- Plant and
Equipment
- Furniture and Fittings
- Office Equipment’s
- Computer
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.64.17 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.25 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.