MIRA INFORM REPORT
|
Report No. : |
328776 |
|
Report Date : |
23.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
WINSOME TEXTILE INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
1 Industrial Area, Baddi, Solan
- 173205, Himachal Pradesh |
|
Tel. No.: |
91-1795-244045/ 244046 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
18.09.1980 |
|
|
|
|
Com. Reg. No.: |
06-005647 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 198.200
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L17115HP1980PLC005647 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PTLW10079G / PTLW10032B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACW1910G |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturing of Yarn, Fabric and Allied Activities. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 1980. It is
engaged in the business of manufacturing of yarn, fabric and allied
activities. It has a satisfactory track record. For the financial year ended 2015, the company has an average
profitability margin and with an increase in sales volume. Rating reflects healthy financial risk profile marked by adequate net
worth of the company and also high working capital with long history of
business operations. Trade relations are reported as fair. Business is active. Payments
terms are slow but correct. In view of aforesaid, the company can be considered normal for
business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
Have moderate risk of default. |
|
Date |
10.02.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities A4+ |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
10.02.2015 |
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 DENIED
Management Non Co-operative (91-1795-244045)
LOCATIONS
|
Registered
Office/ Factory 1 : |
1 Industrial Area, Baddi, Solan
- 173205, Himachal Pradesh, India |
|
Tel. No.: |
91-1795-244045/ 244046 |
|
Fax No.: |
91-1795-244287 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Marketing Office : |
12/ 22, East Patel Nagar, Groud Floor , Main Market, New Delhi, India |
|
Tel. No.: |
91-11-25725462 |
|
Fax No.: |
91-11-25254627 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : International/
National Marketing |
SCO 191 - 192, Sector 34-A, Chandigarh – 160022, India |
|
Tel. No.: |
91-172-4612000/ 4613000/ 4646749/ 5012986/ 5012886/ 5012186/ 5012286/
5007986 91-172-2612447 (Direct - Export Department) |
|
Fax No.: |
91-172-4614000 |
|
E-Mail : |
|
|
|
|
|
Factory 2 - Winsome Yarns Limited Derabassi : |
Village Kurawala, Barwala Road Derabassi, District Patiala, Punjab,
India |
|
Tel. No.: |
91-1762-280236/ 280638 |
|
Fax No.: |
91-1762-270237 |
|
E-Mail : |
|
|
|
|
|
Factory 3 - Winsome Knitwear : |
B-58, Phase VII, Industrial Area, Mohali - 160059, Punjab, India |
|
Tel. No.: |
91-172-5053138/ 5053139/ 5095870/ 5095870/ 5092400/ 5092397 |
|
Fax No.: |
91-172-5090572 |
|
E-Mail : |
|
|
|
|
|
Factory 4 : |
Village Kaundi, Baddi, District Solan, Himachal Pradesh, India |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Satish C Bagrodia |
|
Designation : |
Chairman |
|
Date of Birth/Age : |
73 years |
|
Qualification : |
Post Graduate in
Education and Management |
|
Experience : |
48 years |
|
|
|
|
Name : |
Mr. Ashish Bagrodia |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Amrit Lal Batra |
|
Designation : |
Director |
|
Date of Birth/Age : |
71 years |
|
Qualification : |
Chartered Accountant |
|
Experience : |
44 years of rich
experience in the areas of Banking, Finance, Audit, Operations and Strategic
Management. |
|
|
|
|
Name : |
Mr. Chandra Mohan |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Satish Girotra |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Manish Bagrodia |
|
Designation : |
Director |
|
Date of Birth/Age : |
45 years |
|
Qualification : |
M. Com. and has
also done Diploma in Computer Applications. |
|
Experience : |
26 years of core experience in the Textile Industry. |
KEY EXECUTIVES
|
Name : |
Mr. Sourabh Gupta |
|
Designation : |
Company Secretary |
|
|
|
|
Audit Committee : |
· Satish Girotra, Chairman · Chandra Mohan · Amrit Lal Batra |
|
|
|
|
Shareholders /Investors Grievance Committee : |
· Satish Girotra, Chairman · Chandra Mohan · Amrit Lal Batra · Ashish Bagrodia |
|
|
|
|
Name : |
Mr. Harsh Khurana |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2015
|
Category
of Shareholder |
Total No.
of Shares |
Total
Shareholding as a % of Total No. of Shares |
|
As a % of (A+B) |
||
|
(A) Shareholding of Promoter
and Promoter Group |
||
|
|
|
|
|
|
147660 |
0.95 |
|
|
6553801 |
42.14 |
|
|
6701461 |
43.09 |
|
|
|
|
|
Total shareholding of Promoter
and Promoter Group (A) |
6701461 |
43.09 |
|
(B) Public Shareholding |
||
|
|
|
|
|
|
401347 |
2.58 |
|
|
2205779 |
14.18 |
|
|
2607126 |
16.76 |
|
|
|
|
|
|
5601829 |
36.02 |
|
|
|
|
|
|
273828 |
1.76 |
|
|
361401 |
2.32 |
|
|
7480 |
0.05 |
|
|
7459 |
0.05 |
|
|
21 |
0.00 |
|
|
6244538 |
40.15 |
|
Total Public shareholding (B) |
8851664 |
56.91 |
|
Total (A)+(B) |
15553125 |
100.00 |
|
(C) Shares held by Custodians
and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
4266875 |
0.00 |
|
|
4266875 |
0.00 |
|
Total (A)+(B)+(C) |
19820000 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Yarn, Fabric and Allied Activities. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management. |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
· UCO Bank · Canara Bank · Bank of India ·
Andhra Bank · Punjab National Bank · Dena Bank
|
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Lodha and Company Chartered
Accountants |
|
Address : |
12, Bhagat Singh Marg, New Delhi – 110001, India |
|
Tel No.: |
91-11-23710176 / 23710177 / 23364671 |
|
Fax No.: |
91-11-23345168 / 23314309 |
|
Email : |
|
|
|
|
|
Membership : |
Not Available |
|
|
|
|
Collaboration : |
Not Available |
|
|
|
|
Associate Company (As on
31.03.2014) : |
Winsome Yarns
Limited |
|
|
|
|
Wholly owned Subsidiary Company (As on
31.03.2014) : |
Winsome Textile
Industries FZE |
|
|
|
|
Organisations where Key Management
Personnel and their relative have Significant influence (As on 31.03.2014) : |
· Star point Financial Services Private Limited · Roselab Commodities Private Limited ·
Kailashpati Vinimay Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.198.200 Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24950000 |
Equity Shares |
Rs. 10/- each |
Rs. 249.500 Million |
|
5000 |
Preference Share |
Rs. 100/- each |
Rs. 0.500 Million |
|
|
Total |
|
Rs.250.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19820000 |
Equity Shares |
Rs. 10/- each |
Rs.198.200
Million |
|
|
|
|
|
Rights and
Restrictions of Shareholders:
The Company has only one class of Equity Shares having face value of Rs.
10/- each (Previous Year Re. 10/- each) in its issued, subscribed and paid up
Equity share capital. Each shareholder is entitled to one vote per share
(except GDR shareholding). Each shareholder have the right in profit/surplus in
proportion to amount paid up with respect to share holder.
The GDR shareholding (12,90,000 nos. of GDRs. representing Equity shares
of Rs. 10 each are 64,50,000) which is standing in the name of Bank of New York
Mellon, as Depositary, has right to dividend, do not have any right to vote.
In the event of winding up, the equity shareholders (including GDR
holders) will be entitled to receive the remaining balance of assets, if any,
in proportionate to their individual shareholding in the paid up equity capital
of the company.
Details of each
shareholder holding more than 5% shares:
|
Name of
Shareholder |
31.03.2014 |
31.03.2013 |
|
|
No.
of Shares held |
No.
of Shares held |
|
Bank of New York Mellon, DR (Shares held by Custodians and against
which Depository Receipts have been issued) |
6450000 |
6450000 |
|
Roselab Commodities Private Limited |
3410498 |
3393168 |
|
Kailashpati Vinimay Private Limited |
3005031 |
2991031 |
|
Landscape Traders Private Limited |
1332092 |
1332092 |
|
Arpit Agencies Private Limited |
1290799 |
1290799 |
Reconciliation of
Equity Share Capital
|
|
31.03.2014 |
|
|
No.
of Shares |
|
Shares Outstanding at the beginning of the year |
19820000 |
|
Issued during the year |
-- |
|
Buy Back during the year |
-- |
|
Shares Outstanding at the end of the year |
19820000 |
No bonus/ Buy back/ Issue of shares otherwise then receipt of cash
during the preceeding five years.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
198.200 |
198.200 |
198.200 |
|
(b) Reserves & Surplus |
1180.400 |
1048.000 |
866.032 |
|
(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) |
1378.600 |
1246.250 |
1064.232 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1932.400 |
2312.956 |
2309.546 |
|
(b) Deferred tax liabilities (Net) |
423.300 |
345.423 |
180.695 |
|
(c) Other long term
liabilities |
2.300 |
0.778 |
38.733 |
|
(d) long-term
provisions |
6.100 |
5.066 |
3.605 |
|
Total Non-current
Liabilities (3) |
2364.100 |
2664.223 |
2532.579 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1557.100 |
1515.120 |
1091.693 |
|
(b) Trade
payables |
1507.900 |
1699.291 |
1086.323 |
|
(c) Other
current liabilities |
621.500 |
551.386 |
429.076 |
|
(d) Short-term
provisions |
35.600 |
71.345 |
55.911 |
|
Total Current
Liabilities (4) |
3722.100 |
3837.142 |
2663.003 |
|
|
|
|
|
|
TOTAL |
7464.800 |
7747.615 |
6259.814 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
3936.900 |
3504.487 |
1646.409 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
459.153 |
1545.425 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.300 |
0.310 |
0.739 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
21.000 |
17.739 |
309.792 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
3958.200 |
3981.689 |
3502.365 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
414.707 |
|
(b)
Inventories |
1936.500 |
1928.112 |
1159.582 |
|
(c) Trade
receivables |
717.300 |
583.877 |
401.345 |
|
(d) Cash
and cash equivalents |
164.500 |
184.474 |
97.901 |
|
(e)
Short-term loans and advances |
688.300 |
1069.463 |
683.914 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
3506.600 |
3765.926 |
2757.449 |
|
|
|
|
|
|
TOTAL |
7464.800 |
7747.615 |
6259.814 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6494.700 |
4988.279 |
3517.998 |
|
|
|
Other Income |
24.700 |
75.364 |
40.056 |
|
|
|
TOTAL (A) |
6519.400 |
5063.643 |
3558.054 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
3130.500 |
2440.954 |
1635.976 |
|
|
|
Purchases of Stock-in-Trade |
783.400 |
480.279 |
167.011 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(115.900) |
(261.399) |
43.523 |
|
|
|
Employees benefits expense |
414.200 |
319.660 |
222.931 |
|
|
|
Power and Fuel |
539.700 |
0.000 |
0.000 |
|
|
|
Stores and Spares Consumed |
396.400 |
0.000 |
0.000 |
|
|
|
Other expenses |
369.400 |
1135.335 |
823.433 |
|
|
|
TOTAL (B) |
5517.700 |
4114.829 |
2892.874 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1001.700 |
948.814 |
665.180 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
614.000 |
438.819 |
373.576 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
387.700 |
509.995 |
291.604 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
177.200 |
162.410 |
117.335 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
210.500 |
347.585 |
174.269 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
81.300 |
164.728 |
23.125 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
129.200 |
182.857 |
151.144 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
312.899 |
161.755 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
495.756 |
312.899 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
1968.575 |
1017.598 |
|
|
TOTAL EARNINGS |
|
1968.575 |
2986.173 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
11.350 |
8.015 |
|
|
|
Capital Goods |
|
227.857 |
53.186 |
|
|
|
Spare Parts & Components |
|
21.642 |
12.551 |
|
|
TOTAL IMPORTS |
|
260.849 |
73.752 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.52 |
9.23 |
7.63 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
342.411 |
220.882 |
|
Cash generated from operations |
NA |
259.778 |
701.245 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT/Sales) |
(%) |
1.99 |
3.67 |
4.30 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
15.42 |
19.02 |
18.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.82 |
4.77 |
3.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.28 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.53 |
3.35 |
3.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.94 |
0.98 |
1.04 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
198.200 |
198.200 |
198.200 |
|
Reserves & Surplus |
866.032 |
1048.000 |
1180.400 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
1064.232 |
1246.200 |
1378.600 |
|
|
|
|
|
|
long-term borrowings |
2309.546 |
2312.956 |
1932.400 |
|
Short term borrowings |
1091.693 |
1515.120 |
1557.100 |
|
Current Maturities of
Long Term Debt |
220.882 |
342.411 |
0.000 |
|
Total borrowings |
3622.121 |
4170.487 |
3489.500 |
|
Debt/Equity ratio |
3.404 |
3.347 |
2.531 |
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 |
3517.998 |
4988.279 |
6494.700 |
|
|
|
41.793 |
30.199 |
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 |
3517.998 |
4988.279 |
6494.700 |
|
Profit |
151.144 |
182.857 |
129.200 |
|
|
4.30% |
3.67% |
1.99% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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) |
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10415718 |
31/05/2013 * |
200,000,000.00 |
ANDHRA BANK |
SCO 202-203-204, SECTOR 17C, CHANDIGARH, CHANDIGARH - 160017, INDIA |
B76554765 |
|
2 |
10345957 |
27/06/2012 * |
1,728,100,000.00 |
UCO BANK-CENTRAL
BANK OF INDIA -ANDHRA BANK AND VI |
BAROTIWALA, BAROTIWALA, HIMACHAL PRADESH - 174103, INDIA |
B42284976 |
|
3 |
10335675 |
27/06/2012 * |
99,700,000.00 |
DENA BANK |
SCO 7, SECTOR 7C, CHANDIGARH, CHANDIGARH - 160007, INDIA |
B43308881 |
|
4 |
10197713 |
27/06/2012 * |
30,200,000.00 |
AXIS BANK LIMITED |
SCO 343-344, SECTOR 35B, CHANDIGARH, CHANDIGARH - 160035, INDIA |
B43309442 |
|
5 |
10167065 |
27/06/2012 * |
26,500,000.00 |
ANDHRA BANK |
SCO 202-204, SECTOR 17C, CHANDIGARH, CHANDIGARH - 160017, INDIA |
B42804039 |
|
6 |
10163902 |
27/06/2012 * |
30,100,000.00 |
DENA BANK |
SCO 7, SECTOR 7C, CHANDIGARH, CHANDIGARH - 160007, INDIA |
B43309046 |
|
7 |
10163187 |
27/06/2012 * |
27,300,000.00 |
BANK OF INDIA |
SCO 81-82 BANK SQUARE, SECTOR 17B, CHANDIGARH, CHANDIGARH - 160017, INDIA |
B43309293 |
|
8 |
10163189 |
27/06/2012 * |
39,500,000.00 |
BANK OF INDIA |
SCO 81-82 BANK SQUARE, SECTOR 17B, CHANDIGARH, CHANDIGARH - 160017, INDIA |
B43309384 |
|
9 |
10158900 |
24/01/2013 * |
34,000,000.00 |
CANARA BANK |
SCO 311-312, SECTOR 35B, CHANDIGARH, CHANDIGARH - 160022, INDIA |
B67243626 |
|
10 |
10081225 |
27/06/2012 * |
136,000,000.00 |
BANK OF INDIA |
SCO 81-82 BANK SQUARE, SECTOR 17B, CHANDIGARH, CHANDIGARH - 160017, INDIA |
B43409804 |
* Date of charge modification
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2015 (Rs. In Million) |
31.03.2014 (Rs. In Million) |
|
(i) Bills
discounted with banks |
|
385.463 |
|
(ii) Excise /
Service Tax Matters |
|
8.334 |
|
(iii) Surety Bond
Executed on behalf of others (Including Entry Tax) |
NA |
55.417 |
(iv) Custom duty
saved of Rs. 764.845 Million (Previous year Rs. 546.096 Million) for import of
capital good made against EPCG license against which export obligations
amounting to Rs. 5669.551 Million (Previous year Rs. 2571083 Million) is
pending.
(B) In respect of
certain disallowances and additions made by Income Tax Authorities, appeals are
pending before the Appellate authorities and adjustment if any, will be made
after the same are finally determined.
Considering the
past experience, management is of the view that there will not be any material
impact on accounts on settlement/finalization of tax assessment.
FIXED ASSETS (As on 31.03.2014)
·
Land -Freehold
·
Land -Leasehold
·
Buildings
·
Plant and Equipments
·
Furniture and Fixtures
·
Vehicles
·
Office Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No 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. 63.51 |
|
|
1 |
Rs. 100.94 |
|
Euro |
1 |
Rs. 72.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--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 |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.