MIRA INFORM REPORT
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Report No. : |
326116 |
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Report Date : |
06.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
RIGHT TIGHT FASTNERS PRIVATE LIMITED |
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Registered
Office : |
18-A, Manish Kaveri, Off J.P. Road, Four Bunglows, Andheri (West),
Mumbai – 400053, Maharashtra |
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Tel. No.: |
91-253-2350786 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
01.05.1979 |
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Com. Reg. No.: |
11-021250 |
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Capital
Investment / Paid-up Capital : |
Rs.172.500 Million |
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CIN No.: [Company Identification
No.] |
U28991MH1979PTC021250 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
MUMR14786C |
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PAN No.: [Permanent Account No.] |
AAAFR3274M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacturing of a wide array of precision cold forged high tensile fasteners and components of various grades of carbon, alloy for automobile, engineering, electrical, electronic and construction industries. |
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No. of Employees
: |
552 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year May 1979 and it is having satisfactory track record. Subject is engaged in manufacturing of a wide array of precision cold forged high tensile fasteners and components of various grades of carbon, alloy for automobile, engineering, electrical, electronic and construction industries. From the financials of 2014, the general financial position of the company seems to be sound. Company is backed by its healthy net worth and adequate protection metrics. Trade relation are fair. Business is active. Payments terms are reported to be usually correct. In view of decent financial, company can be considered for the 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 |
CRISIL |
|
Rating |
Long Term Rating = BBB |
|
Rating Explanation |
Have moderate degree of safety and carry
moderate credit risk |
|
Date |
20.03.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A3+ |
|
Rating Explanation |
Have moderate degree of safety and carry
higher credit risk |
|
Date |
20.03.2014 |
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 PARTED BY
|
Name : |
Mr. Vilas |
|
Designation : |
Finance Department |
|
Contact No.: |
91-253-6696720 |
|
Date : |
05.06.2015 |
LOCATIONS
|
Registered Office : |
18-A, Manish Kaveri, Off J.P. Road, Four Bunglows, Andheri (West),
Mumbai – 400053, Maharashtra, India |
|
Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Factory 1 : |
F-45/46/47, MIDC Satpur, Amarjeet Singh Chhabra, Nashik – 422007,
Maharashtra, India |
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Tel. No.: |
91-253-2350786 / 2350787 / 2353786 / 6696720 |
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Fax No.: |
91-253-2351786/ 787/ 788 |
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E-Mail : |
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Factory 2 : |
Plot No. 70, Sector - 6, IIE, SIDCUL, Pantnagar, Udham Singh Nagar – 263153, Uttarakhand, India |
DIRECTORS
AS ON 15.09.2014
|
Name : |
Mr. Amarjeetsingh B Chhabra |
|
Designation : |
Director |
|
Address : |
B-34, N.I.C.E., Satpur Industrial Estate, Nashik - 422007,
Maharashtra, India |
|
Date of Birth/Age : |
03.11.1970 |
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Date of Appointment : |
14.12.1994 |
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PAN No: |
AAEPC3541Q |
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DIN No.: |
00289802 |
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|
|
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Name : |
Mr. Balbirsingh B Chhabra |
|
Designation : |
Director |
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Address : |
B-34, N.I.C.E., Satpur Industrial Estate, Nashik - 422007,
Maharashtra, India |
|
Date of Birth/Age : |
20.07.1960 |
|
Date of Appointment : |
01.05.1979 |
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PAN No: |
ADDPC7217K |
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DIN No.: |
00309800 |
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|
|
|
Name : |
Mr. Amolaksingh B Chhabra |
|
Designation : |
Director |
|
Address : |
B-34, N.I.C.E., Satpur Industrial Estate, Nashik - 422007,
Maharashtra, India |
|
Date of Birth/Age : |
30.04.1965 |
|
Date of Appointment : |
14.12.1994 |
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PAN No : |
AAEPC3542P |
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DIN No.: |
00309833 |
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|
|
|
Name : |
Mr. Srinivasan Narasimhan |
|
Designation : |
Director |
|
Address : |
Flat No.7, Prasad Sankul, Kutwad Road, Kutwad Nagar, Nashik
- 422008, Maharashtra, India |
|
Date of Appointment : |
25.11.2014 |
|
DIN No.: |
07072125 |
KEY EXECUTIVES
|
Name : |
Mr. Vilas |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 15.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Rajinderkaur Balwantsingh Chhabra |
238150 |
13.81 |
|
Amarjeetsingh B Chhabra |
452900 |
26.26 |
|
Balbirsingh Balwantsingh Chhabra |
482800 |
27.99 |
|
Amolaksingh B Chhabra |
438150 |
25.40 |
|
Sardarni Inderpal Kaur B Chhabra |
20000 |
1.16 |
|
Sardarni Sonia B Chabra |
20000 |
1.16 |
|
Ritu Amarjeetsingh Chhabra |
20000 |
1.16 |
|
Ashmeetkaur Amolksingh Chhabra |
22000 |
1.28 |
|
Jasneetkaur Dilpreet Gulati |
22000 |
1.28 |
|
Kirankaur Balwantsingh Chhabra |
9000 |
0.52 |
|
Total |
1725000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 15.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of a wide array of precision cold forged high tensile fasteners and components of various grades of carbon, alloy for automobile, engineering, electrical, electronic and construction industries. |
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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 : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material and Finished Goods |
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Countries : |
European Country |
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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
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Suppliers : |
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Customers : |
Wholesalers, Retailers
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No. of Employees : |
552 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
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Auditors : |
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Name : |
J J Samtani and Company Chartered Accountants |
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Address : |
18-A/31, Manish Kaveri, Off J P Road, Four Bunglows, Andheri (West),
Mumbai – 400 053, Maharashtra, India |
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Tel. No.: |
91-22-66781055/ 26354010 |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAKPS3415K |
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Memberships : |
-- |
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Collaborators : |
-- |
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Enterprise in which
Key Management Personnel have significant influence: |
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CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.100/- each |
Rs.200.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1725000 |
Equity Shares |
Rs.100/- each |
Rs.172.500 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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I.
EQUITY AND LIABILITIES |
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|
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|
(1)Shareholders' Funds |
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|
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|
(a) Share Capital |
172.500 |
172.500 |
172.500 |
|
(b) Reserves & Surplus |
422.492 |
383.019 |
247.290 |
|
(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) |
594.992 |
555.519 |
419.790 |
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(3) Non-Current Liabilities |
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|
(a) long-term borrowings |
221.655 |
243.257 |
198.621 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
20.073 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
8.502 |
12.262 |
94.753 |
|
Total
Non-current Liabilities (3) |
230.157 |
255.519 |
313.447 |
|
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(4) Current Liabilities |
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|
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|
(a) Short term borrowings |
229.213 |
200.614 |
176.827 |
|
(b) Trade payables |
177.963 |
158.225 |
225.221 |
|
(c) Other current liabilities |
85.420 |
59.061 |
61.358 |
|
(d) Short-term provisions |
24.329 |
14.888 |
16.361 |
|
Total
Current Liabilities (4) |
516.925 |
432.788 |
479.767 |
|
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|
|
|
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TOTAL |
1342.074 |
1243.826 |
1213.004 |
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II.
ASSETS |
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|
(1) Non-current assets |
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(a) Fixed Assets |
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|
|
|
(i) Tangible assets |
667.836 |
538.653 |
569.344 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
3.029 |
80.580 |
43.379 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.061 |
1.061 |
1.061 |
|
(c) Deferred tax assets (net) |
10.707 |
15.270 |
0.000 |
|
(d) Long-term Loan and Advances |
9.029 |
17.250 |
16.976 |
|
(e) Other Non-current assets |
2.831 |
0.638 |
0.709 |
|
Total
Non-Current Assets |
693.493 |
653.452 |
631.469 |
|
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|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
361.257 |
292.462 |
262.413 |
|
(c) Trade receivables |
198.956 |
220.123 |
248.155 |
|
(d) Cash and cash equivalents |
23.689 |
33.978 |
29.469 |
|
(e) Short-term loans and
advances |
13.635 |
20.490 |
12.439 |
|
(f) Other current assets |
51.044 |
23.321 |
29.059 |
|
Total
Current Assets |
648.581 |
590.374 |
581.535 |
|
|
|
|
|
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TOTAL |
1342.074 |
1243.826 |
1213.004 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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SALES |
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Income |
1300.000 (Approximately) |
NA |
NA |
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Other Income |
NA |
NA |
NA |
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TOTAL |
NA |
NA |
NA |
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EXPENSES |
NA |
NA |
NA |
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PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
NA |
NA |
NA |
|
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|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
NA |
NA |
NA |
|
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PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
NA |
NA |
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|
Less |
DEPRECIATION/
AMORTISATION |
NA |
NA |
NA |
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PROFIT/(LOSS)
BEFORE TAX |
NA |
NA |
NA |
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Less |
TAX |
NA |
NA |
NA |
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|
PROFIT/(LOSS)
AFTER TAX |
24.009 |
135.728 |
137.096 |
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
243.376 |
106.280 |
|
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|
BALANCE CARRIED
TO THE B/S |
NA |
379.104 |
243.376 |
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
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|
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Export Earnings |
55.340 |
19.598 |
15.434 |
|
|
TOTAL EARNINGS |
55.340 |
19.598 |
15.434 |
|
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|
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|
Earnings Per
Share (Rs.) |
13.92 |
79.00 |
65.45 |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
1580.000 |
Expected Sales (2015-2016) : Rs.1800.000 Million
The above information has been parted by Mr. Vilas
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
84.616 |
58.612 |
60.484 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.90 |
0.90 |
1.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25 |
1.36 |
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 |
172.500 |
172.500 |
172.500 |
|
Reserves & Surplus |
247.290 |
383.019 |
422.492 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
419.790 |
555.519 |
594.992 |
|
|
|
|
|
|
long-term borrowings |
198.621 |
243.257 |
221.655 |
|
Short term borrowings |
176.827 |
200.614 |
229.213 |
|
Current Maturities Of
Long-Term Debts |
60.484 |
58.612 |
84.616 |
|
Total
borrowings |
435.932 |
502.483 |
535.484 |
|
Debt/Equity
ratio |
1.038 |
0.905 |
0.900 |
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 |
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 |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes |
|
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 |
UNSECURED LOAN
|
Particulars |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
LONG TERM
BORROWING |
|
|
|
Rupee term loans from banks |
200.307 |
217.688 |
|
Loans and advances from related parties |
0.000 |
3.800 |
|
Other loans and advances, others |
21.348 |
21.769 |
|
Total |
221.655 |
243.257 |
|
|
|
|
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10476669 |
23/01/2014 |
20,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
THE CAPITAL', 2ND
FLOOR, THAKKAR LANE,, NEAR KULK |
B95977351 |
|
2 |
10415740 |
28/03/2013 |
30,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA. |
1ST FLOOR, PINGLE
COMPLEX,, OPP. KULKARNI GARDEN, |
B72002520 |
|
3 |
10342567 |
24/02/2012 |
594,700,000.00 |
STATE BANK OF INDIA |
SATPUR INDUSTRIAL
AREA BRANCH, SATPUR, NASHIK, MA |
B35164292 |
|
4 |
90241374 |
06/01/2015 * |
551,300,000.00 |
STATE BANK OF INDIA |
SATPUR INDUSTRIAL
AREA BRANCH, SATPUR, NASIK, MAH |
C41990508 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- 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, 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.63.90 |
|
UK Pound |
1 |
Rs.97.98 |
|
Euro |
1 |
Rs.71.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
4 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
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 |
|
43 |
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.