MIRA INFORM REPORT
|
Report No. : |
325885 |
|
Report Date : |
08.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
CUBEX TUBINGS LIMITED |
|
|
|
|
Registered
Office : |
1-7-27 TO 34,1st Floor, Shyam Towers, S.D. Road, Secunderabad -500003,
Telangana |
|
Tel. No.: |
91-44-27817440 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
10.08.1979 |
|
|
|
|
Com. Reg. No.: |
002504 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.142.601 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L27109TG1979PLC002504 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDC00460F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC5860B |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s shares are listed on
the stock exchange |
|
|
|
|
Line of Business
: |
Manufacturer of seamless solid drawn Tubes, Rods, Bus bars and Wires of
copper and copper based alloys such as Cupronickel, admiralty Brass, Aluminum
Brass etc. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1600000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behavior : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial
risk profile marked by low profitability margins and operates in a highly
competitive market which led to affect operational profile of the company. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Bank Facilities = BB |
|
Rating Explanation |
Inadequate-credit and high credit risk. |
|
Date |
07.11.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank Facilities = A4 |
|
Rating Explanation |
Minimal Degree of safety and very high credit risk |
|
Date |
07.11.2014 |
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 DECLINED BY
|
Name : |
Mr. Raj |
|
Designation : |
Account Department |
|
Contact No.: |
91-8455-285362 |
|
Date : |
03.06.2015 |
|
Name : |
Mr. Nitesh Sharma |
|
Designation : |
Purchase Department |
|
Contact No.: |
91-40-27817440 |
|
Date : |
03.06.2015 |
LOCATIONS
|
Registered Office : |
1-7-27 TO 34,1st Floor, Shyam Towers, S.D. Road, Secunderabad -500003,
Telangana, India |
|
Tel. No.: |
91-44-27817440/27817436 |
|
Fax No.: |
91-40-27812569 |
|
E-Mail : |
|
|
|
|
|
Branch Office |
Kolkata 7A,Bentiok Street (Old Wing), 1st Floor, Suit No.M-107, Kolkata –
700001, West Bengal |
|
Tel. No.: |
91-33-22436184 |
|
|
|
|
|
Chennai 3,Gokhale Street, V.O.C Nagar, Pamal, Chennai – 600075, Tamilnadu,
India |
|
Tel. No.: |
91-44-22463187 |
|
Fax No.: |
91-44-22484630 |
|
|
|
|
USA Office.: |
Sanjay Singhvi ,3127,Friars,Walk Lane, Glen Allen- 23059, Virginia |
|
Tel. No.: |
01-804-4023913 |
|
|
|
|
Administrative
Office/ Plant 1 .: |
Survey No 464 & 482,Near IDS, Phase - V, Patancheru - 502320,
Madak Dist, Telangana, India |
|
Tel. No.: |
91-8455-285362/285363 |
|
Fax No.: |
91-8455-241675 |
|
|
|
|
Plant 2 .: |
A-12 A, Mettupalayam, Industrial Estate, Pondicherry – 605009, India |
|
Tel. No.: |
91-413-2271598 |
|
Fax No.: |
91-413-2273120 |
|
|
|
|
Plant 3.: |
Door No. 13-159, Syno 482 and 464, Venkateswara Colony, Patancheru Village,
Sengareddy Medak District, Telangana, India |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. P. R. Bhandari |
|
Designation : |
Managing Director |
|
DIN No.: |
00062271 |
|
|
|
|
Name : |
Mr. Virendra BhandarI |
|
Designation : |
Executive Director |
|
DIN No.: |
00062228 |
|
|
|
|
Name : |
Dr. Trilok Singh |
|
Designation : |
Independent Director |
|
DIN No.: |
06469426 |
|
|
|
|
Name : |
Mr. Mahendra Kumar Ranka |
|
Designation : |
Independent Director |
|
DIN No.: |
01268256 |
|
|
|
|
Name : |
Mr. Y. Narasimha Murthy |
|
Designation : |
Independent Director |
|
DIN No.: |
02567716 |
|
|
|
|
Name : |
Mr. Sandeep Kumar |
|
Designation : |
Director |
|
DIN No.: |
05192591 |
KEY EXECUTIVES
|
Name : |
Mr. Raj |
|
Designation : |
Account Department |
|
|
|
|
Name : |
Mr. Nitesh Sharma |
|
Designation : |
Purchase Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Category of
Shareholder |
Total No. of Shares
held in Dematerialized Form |
Total Shareholding
as a % of Total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
||
|
|
|
|
|
|
473320 |
3.93 |
|
|
1829910 |
39.30 |
|
|
0 |
0.07 |
|
|
0 |
0.07 |
|
|
2303230 |
43.30 |
|
|
|
|
|
|
0 |
0.84 |
|
|
0 |
0.84 |
|
Total shareholding of Promoter and Promoter Group (A) |
2303230 |
44.14 |
|
(B) Public Shareholding |
||
|
|
|
|
|
|
0 |
0.32 |
|
|
0 |
0.01 |
|
|
360 |
0.00 |
|
|
360 |
0.32 |
|
|
|
|
|
|
3415269 |
24.12 |
|
|
|
|
|
|
1951700 |
17.87 |
|
|
1814919 |
12.76 |
|
|
51145 |
0.78 |
|
|
32729 |
0.30 |
|
|
0 |
0.35 |
|
|
18416 |
0.13 |
|
|
7233033 |
55.54 |
|
Total Public shareholding (B) |
7233393 |
55.86 |
|
Total (A)+(B) |
9536623 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts have been issued |
||
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
9536623 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of seamless solid drawn Tubes, Rods, Bus bars and Wires
of copper and copper based alloys such as Cupronickel, admiralty Brass,
Aluminum Brass etc. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
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|
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|
Agencies Held : |
Not Available |
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|
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|
Exports : |
Not Divulged |
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|
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|
Imports : |
Not Divulged |
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|
|
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
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 : |
|
|
Name : |
P Murali and Company Chartered Accountants |
|
Address : |
6-3-655/2/3, Somajiguda, Hyderabad – 500082, Telangana, India |
|
Tel. No.: |
91-40-23326666/ 23312554/ 23393967/ 23321470 |
|
Fax No.: |
91-40-23392474 |
|
E-Mail : |
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|
Website.: |
|
|
|
|
|
Solicitors : (31.03.2014) |
Mr. M.V.S. Prasad |
|
|
|
|
Memberships : |
---- |
|
|
|
|
Collaborators : |
---- |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs. 142.601
Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs. 250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14318975 |
Equity Shares |
Rs.10/- each |
Rs.143.190 Million |
|
|
|
|
|
A. Reconciliation of the
shares outstanding at the beginning and at the end of the reporting period
|
Particulars |
AS AT 31.3.2014 |
|
|
No. of Shares |
(Rs. in Million) |
|
|
Equity shares of
Rs. 10/- Each, Fully paid up |
|
|
|
At the beginning of the period |
11908400 |
119.084 |
|
Shares Issued during the year – Cash issue |
2410575 |
24.106 |
|
At the end |
14318975 |
143.190 |
B. Details of shareholders holding
more than 5% shares in the company
|
Name of the
Shareholder |
AS AT 31.3.2014 |
|
|
No. of Shares |
% of Holding |
|
|
Equity shares of
Rs. 10/- Each Held By |
|
|
|
Cubex Securities Limited |
1861777 |
13.00 |
|
Nadol Trading Private Limited |
2125000 |
14.84 |
|
Mavv Trading Private Limited |
1625000 |
11.35 |
|
Swarnim Avenues Private Limited |
1500000 |
10.48 |
|
Enspire Institute of Professor Studies |
900000 |
6.29 |
ABRIDGED
BALANCE SHEET
FINANCIAL DATA
[all figures are
in Rupees Million]
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
142.601 |
142.601 |
118.495 |
|
(b) Reserves & Surplus |
419.232 |
421.867 |
386.977 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
32.150 |
|
Total
Shareholders’ Funds (1) + (2) |
561.833 |
564.468 |
537.622 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
41.874 |
45.116 |
51.150 |
|
(b) Deferred tax liabilities (Net) |
9.259 |
7.979 |
6.798 |
|
(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) |
51.133 |
53.095 |
57.948 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
4.459 |
0.000 |
|
(b) Trade
payables |
33.244 |
20.119 |
21.282 |
|
(c) Other current
liabilities |
21.118 |
14.764 |
15.277 |
|
(d) Short-term
provisions |
4.475 |
4.563 |
3.544 |
|
Total Current
Liabilities (4) |
58.837 |
43.905 |
40.103 |
|
|
|
|
|
|
TOTAL |
671.803 |
661.468 |
635.673 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
201.545 |
221.097 |
242.082 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(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 |
104.777 |
89.252 |
19.492 |
|
(e) Other Non-current
assets |
0.585 |
0.683 |
0.780 |
|
Total Non-Current
Assets |
306.907 |
311.032 |
262.354 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
72.049 |
75.149 |
80.995 |
|
(c) Trade
receivables |
206.408 |
212.935 |
163.592 |
|
(d) Cash
and cash equivalents |
38.865 |
33.018 |
37.799 |
|
(e)
Short-term loans and advances |
22.480 |
8.998 |
78.365 |
|
(f) Other
current assets |
25.094 |
20.336 |
12.568 |
|
Total
Current Assets |
364.896 |
350.436 |
373.319 |
|
|
|
|
|
|
TOTAL |
671.803 |
661.468 |
635.673 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
558.745 |
437.280 |
382.498 |
|
|
|
Other Income |
14.078 |
29.864 |
13.772 |
|
|
|
TOTAL |
572.823 |
467.144 |
396.270 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
483.005 |
368.035 |
344.763 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(3.514) |
2.174 |
(32.206) |
|
|
|
Employees benefits expense |
9.737 |
9.350 |
8.237 |
|
|
|
Other expenses |
62.471 |
64.045 |
54.429 |
|
|
|
TOTAL |
551.699 |
443.604 |
375.223 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
21.124 |
23.540 |
21.047 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.863 |
0.936 |
0.465 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
20.261 |
22.604 |
20.582 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
15.936 |
19.251 |
17.440 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
4.325 |
3.353 |
3.142 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.412 |
1.820 |
2.896 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.913 |
1.533 |
0.246 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Goods |
NA |
55.245 |
5.503 |
|
|
TOTAL EARNINGS |
NA |
55.245 |
5.503 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
0.11 |
0.02 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
5.440 |
3.220 |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin |
(%) |
0.34 |
0.35 |
0.06 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.78 |
5.38 |
5.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.64 |
0.51 |
0.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.01 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.07 |
0.10 |
0.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.20 |
7.98 |
9.31 |
STOCK
PRICES
|
Face Value |
Rs. 10.00 |
|
Market Value |
Rs. 8.61 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
118.495 |
142.601 |
142.601 |
|
Reserves & Surplus |
386.977 |
421.867 |
419.232 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
32.150 |
0.000 |
0.000 |
|
Net worth |
537.622 |
564.468 |
561.833 |
|
|
|
|
|
|
long-term borrowings |
51.150 |
45.116 |
41.874 |
|
Short term borrowings |
0.000 |
4.459 |
0.000 |
|
Total borrowings |
51.150 |
49.575 |
41.874 |
|
Debt/Equity ratio |
0.095 |
0.088 |
0.075 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
382.498 |
437.280 |
558.745 |
|
|
|
14.322 |
27.777 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
382.498 |
437.280 |
558.745 |
|
Profit |
0.246 |
1.533 |
1.913 |
|
|
0.06% |
0.35% |
0.34% |
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 |
No |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
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) |
No |
|
16 |
No. of employees |
No |
|
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 |
Yes |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
CASE DETAILS
CCCA 51/2013 CCCASR
8020/ 2013 PENDING
|
REG DATE.:- |
06/06/2013 |
Filing Date:- |
30/04/2013 |
|
Petitioner:- |
LINDE
INDIA LIMITED |
Respondent:- |
VS M/S. CUBEX TUBINGS LIMITED |
|
Petn. Adv.:- |
RAMESH |
Respondent Adv.:- |
PRASAD |
|
Listing Date:- |
04/11/2013 |
Posting Stage:- |
INTERLOCUTORY |
|
HON’BLE JUDGE (S): |
R. SUBHASH REDDY A V SESHA SAI |
||
OPERATIONS:
(31.03.2014)
The company has registered a total income of Rs. 467.144 Million for 2013-14
as compared to Rs. 396.270 for 2012-13 and the company posted a net profit of
Rs. 1.533 Million for 2013-14 as compared to Rs. 0.246 Million for 2012-13.
THE COMPANY`S
PRODUCTS / SERVICES: (31.03.2014)
CUBEX is manufacturer of seamless solid drawn Tubes, Rods, Bus bars and Wires of copper and copper based alloys such as Cupronickel, admiralty Brass, Aluminum Brass etc. Copper because of its high electrical conductivity and heat transfer characteristics finds wide application in the form of Tubes, Rods, Strips and Wires. The user industries are Power plants, Power plants manufacturers, Switchgears, Refineries, Furnace manufacturers, Sugar plants, Automobile, Electrical Equipment industries and Ship building Company.
CORPORATE GOVERNANCE:
(31.03.2014)
The Company is compliant with the Corporate Governance requirements as per Clause 49 of the Listing Agreement with the Stock Exchanges. A separate section on Corporate Governance together with a certificate from the Statutory Auditor`s confirming compliance is set out in the Annexure forming part of this report.
INDUSTRY
BACKGROUND: (31.03.2014)
The Copper and Copper Alloy products have shown impressive growth in the
Last decade.
Copper because of its high electrical conductivity and heat transfer
characteristics find wide application in the form of rods, tubes, strips, Flats
and wires. The user industries are
generally Power Generation, Switchgear,
Motors, Refrigeration, Heat
Exchanger, Automobile and Electrical Equipment industries.
B. INDUSTRY
OUTLOOK: (31.03.2014)
1. Since there is lot of emphasis
of power generation the consumption of Copper Alloy tubes, Rods and Semis
Would increase.
2. The manufacturing capacity of condenser/refrigeration tubes are in short
Supply compare to its requirements in
3. There is huge export potential for copper alloy extrusions.
FUTURE PLAN: (31.03.2014)
Manufacturer of Nickel base products – Company
has developed and started manufacturing Titanium, Inconel and other Nickel base
alloy product from 2012-2013 onward and the same was very much impressive.
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
Bank Guarantee (performance of product and
towards the security) |
State Bank of Hyderabad, Axis Bank, IndusInd
Bank, HDFC and City Bank |
30.073 |
30.437 |
FIXED ASSETS
- Land
- Building
- Electrical
Installation
- Plant and
Machinery
- Furniture and
Office equipment
- Furnace
- Lab Equipment
- Bore well
- Vehicles
- Scooter and
Mopeds
- Computer
- Generators
- Telephones
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.64.11 |
|
|
1 |
Rs.97.84 |
|
Euro |
1 |
Rs.71.11 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
DDD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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
unfavorable 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.