MIRA INFORM REPORT

 

 

Report No. :

330019

Report Date :

30.06.2015

 

IDENTIFICATION DETAILS

 

Name :

LAHOTI OVERSEAS LIMITED

 

 

Registered Office :

307, Arun Chambers, Tardeo Road, Mumbai – 400034, Maharashtra

Tel. No.:

91-22-40500100 

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

24.04.1995

 

 

Com. Reg. No.:

11-087643

 

 

Capital Investment / Paid-up Capital :

Rs.58.459 Million

 

 

CIN No.:

[Company Identification No.]

L74999MH1995PLC087643

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Exporter of Cotton Yarns including carded and combed ring spun yams of coarse and fine counts, ply yarns, special yarns and grey fabrics and also engaged in power generation.

 

 

No. of Employees :

40 (Approximately)

 

 

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 2700000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track.

 

General financial position of the company seems to be sound. Profitability of the company is fair.

 

Trade relations are fair. Business is active. Payment terms are reported to be usually correct.

 

The company can be considered for business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

ICRA

Rating

Term Loan: BBB

Rating Explanation

Moderate degree of safety and moderate credit risk.

Date

September 2014

 

 

Rating Agency Name

ICRA

Rating

Letter of credit (LC)*: A3+

Rating Explanation

Moderate degree of safety and higher 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 PARTED BY

 

Name :

Mr. Pradeep Bachukar

Designation :

Chief Executive Officer

Contact No.:

91-9321903715

 

 

                                                                           LOCATIONS

 

Registered Office :

307, Arun Chambers, Tardeo Road, Mumbai – 400034, Maharashtra, India

Tel. No.:

91-22-40500100 / 23516389/ 90/ 56602167/ 68

Mobile No.:

91-9321903715 (Mr. Pradeep Bachukar)

Fax No.:

91-22-40500150 

E-Mail :

Ujwal@lahotioverseas.com 

aadhitiya@lahotioverseas.com 

umesh@lahotioverseas.com

lol@vsnl.com

investor@lahotioverseas.com 

corporateadvisories@mail.com

Website :

http://www.lahotioverseas.in

http://www.lahotioverseas.com

Area :

750 Sq.ft.

Location :

Owned

 

 

Dhaka Office::

House: 540/6, Road: 12 (West), Baridhara D.O.H.S, Dhaka, Bangladesh

 

 

Coimbatore Office:

2nd Floor, Tirumalai Tower, 723 B, Avinashi Road, Coimbatore – 641018, Tamilnadu, India

Tel. No.:

91-422-2222282 / 223733

Fax No.:

91-422-2223116

 

 

DIRECTORS

 

AS ON 31.03.2014

 

Name :

Mr. Ujwal R. Lahoti

Designation :

Executive Chairman

 

 

Name :

Mr. Umesh R. Lahoti

Designation :

Managing Director

 

 

Name :

Mr. Aadhitiya U. Lahoti

Designation :

Joint Executive Director

Date of Birth/Age :

30 Years

Qualification :

B.Com and FMBA

 

 

Name :

Mr. Prakash R. Bang

Designation :

Independent Non-Executive Director

 

 

Name :

Mr. Vijay D. Ajgaonkar

Designation :

Independent Non-Executive Director

 

 

Name :

Mr. Prem S. Malik

Designation :

Independent Non-Executive Director

Date of Appointment :

28.03.2012

 

 

KEY EXECUTIVES

 

Name :

Mr. Pradeep Bachukar

Designation :

Chief Executive Officer

 

 

Name :

Mr. Aweline Mendes

Designation :

Compliance Officer

 

 

Name :

Kothari H. and Associates

Designation :

Practising Company Secretary

 

 

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

 

(A) Shareholding of Promoter and Promoter Group

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

15128925

51.86

http://www.bseindia.com/include/images/clear.gifBodies Corporate

2317500

7.94

http://www.bseindia.com/include/images/clear.gifSub Total

17446425

59.81

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

17446425

59.81

 

 

 

(B) Public Shareholding

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

1814718

6.22

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

Individual shareholders holding nominal share capital up to Rs. 0.100 Million

4605688

15.79

Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million

402528

1.38

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

4902141

16.80

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

652141

2.24

http://www.bseindia.com/include/images/clear.gifForeign Corporate Bodies

4250000

14.57

http://www.bseindia.com/include/images/clear.gifSub Total

11725075

40.19

Total Public shareholding (B)

11725075

40.19

 

 

 

Total (A)+(B)

29171500

100.00

 

 

 

(C) Shares held by Custodians and against which Depository Receipts have been issued

 

 

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

0

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

0

0.00

 

 

 

Total (A)+(B)+(C)

29171500

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Exporter of Cotton Yarns including carded and combed ring spun yams of coarse and fine counts, ply yarns, special yarns and grey fabrics and also engaged in power generation.

 

 

Products :
  • Cotton Yarns
  • Fabrics
  • Organic Products
  • Raw Cottons

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • China
  • Bangladesh
  • Portugal

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash, L/C and Credit

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Awni Textile Limited, Punjab

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Fortune Axim Limited, Hong Kong

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

40 (Approximately)

 

 

Bankers :

Bank Name
  • State Bank of India
  • Citibank N.A.
  • DBS Bank Limited
  • HSBC Limited
  • ICICI Bank Limited
  • Punjab National Bank

Branch

Not Divulged

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

Secured Loan

31.03.2015

(Rs. in Million)

31.03.2014

(Rs. in Million)

Long-term Borrowings

 

 

Term loans

NA

70.714

Short-term borrowings

 

 

Working Capital Loans

 

 

State Bank of India (P.C.F.C)

NA

113.232

HSBC Bank Limited (P.C.F.C)

NA

154.894

State Bank of India (Packing Credit)

NA

29.033

ICICI Bank (P.C.F.C)

NA

57.259

DBS (P.C.F.C)

NA

138.399

Post shipment from Citi Bank

NA

227.740

Post shipment from SBI

NA

20.461

Total

NA

811.732

 

NOTE : (AS ON 31.03.2014)

 

Long-term Borrowings

 

Details of terms of repayment of the long term borrowings and security provided in respect of the secured long-term borrowings

 

Terms of repayment

 

Particulars

No. of quarter

Installment per quarter

Total repayment

2013-2014

2

3.214

6.429

20145-15 to 2019-20

4*6=24

3.214

77.143

2020-21

2

3.214

6.429

Total

28

--

90.000

 

Particulars of Security :

 

Primary:

 

Exclusive charge on all the assets of the project including cost of Land.

 

Collateral :

 

  • Hypothecation of a Wind Mill located at Dharmapuri District, Tamilnadu

 

  • Personal guarantee of Umesh Lahoti, Ujwal Lahoti and Adhitiya Lahoti of the above, Installment of the year 2014-2015 has been considered as current maturities of long term debts and re-grouped accordingly under Other Current Maturities in March 2014 Financials.

 

Short-term borrowings

 

The loans from SBI, ICICI Bank and DBS Bank are secured against Hypothecation of Stock and Book Debts of the Company with pari pasu clause.

 

Auditors :

 

Name :

P. C. Ghadiali and Company LLP

Chartered Accountants

Address :

Mumbai, Maharashtra, India

 

 

Internal Auditors :

 

Name :

Lahoti Navneet and Company

Chartered Accountants

Address :

Mumbai, Maharashtra, India

 

 

Memberships :

--

 

 

Collaborators :

---

 

 

Subsidiary Companies [AS ON 31.03.2014]:
  • Lahoti Spintex Limited
  • G. Varadan Limited

 

 

Entities in which KMP / relatives of KMP have significant influence [AS ON 31.03.2014]:
  • PSWare Information Private Limited
  • Sri Laxmi Exports (Partnership Firm)
  • Kirti Stock Brokers Private Limited
  • Bauble Investment Private Limited
  • Hind Commerce Limited

 

 

CAPITAL STRUCTURE

 

AS ON: 31.03.2015

 

Authorised Capital : Not Available

Issued, Subscribed & Paid-up Capital : Rs.58.459 Million

 

AS ON: 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

30,000,000

Equity Shares

Rs. 2/- each

Rs. 60.000 Million

 

 

 

 

 

Issued :

No. of Shares

Type

Value

Amount

 

 

 

 

29,382,500

Equity Shares

Rs. 2/- each

Rs. 58.765 Million

 

 

 

 

 

Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

29,171,500

Equity Shares

Rs. 2/- each

Rs. 58.343 Million

211,000

Add: Forfeited Shares 

 

Rs. 0.116 Million

 

 

 

 

 

Total

 

Rs.58.459 Million

 

(i) Reconciliation of the number of shares and amount outstanding at the beginning and at the end of the reporting year:

 

PARTICULARS

 

 As at 31.03.2014

Equity shares with voting rights

Number of shares

Rs. in million

Opening Balance

29171500

58.459

Less : Shares Forfeited

-

-

Closing Balance

29171500

58.459

 

(ii) Details of shares held by each shareholder holding more than 5% shares:

 

Name of shareholder

 

As at 31.03.2014

Equity shares with voting rights

Number of shares

% holding

Ujwal R Lahoti

3823000

13.11

Umesh R Lahoti

4484000

15.37

Jayashri U Lahoti

2375500

8.14

Manjushri Umesh Lahoti

1934500

6.63

Rukmini R Lahoti

1522000

5.22

Kirti Stock Brokers Private Limited

1610000

5.52

Billion Way Garment Limited

4250000

14.57

 

 

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

58.459

58.459

58.459

(b) Reserves & Surplus

880.772

806.774

688.089

(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)

939.231

865.233

746.548

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

71.831

71.136

0.422

(b) Deferred tax liabilities (Net)

35.221

28.476

17.784

(c) Other long term liabilities

0.660

1.180

1.380

(d) long-term provisions

2.383

1.547

1.346

Total Non-current Liabilities (3)

110.095

102.339

20.932

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

925.051

843.622

603.937

(b) Trade payables

29.048

35.542

40.873

(c) Other current liabilities

92.138

50.889

197.279

(d) Short-term provisions

2.232

16.059

18.566

Total Current Liabilities (4)

1048.469

946.112

860.655

 

 

 

 

TOTAL

2097.795

1913.684

1628.135

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

418.500

229.046

268.622

(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

250.212

157.066

159.088

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

56.674

54.013

56.911

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

725.386

440.125

484.621

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

10.086

(b) Inventories

84.289

20.674

118.682

(c) Trade receivables

996.638

1146.911

826.807

(d) Cash and cash equivalents

85.502

40.192

36.325

(e) Short-term loans and advances

76.056

85.216

90.913

(f) Other current assets

129.924

180.566

60.701

Total Current Assets

1372.409

1473.559

1143.514

 

 

 

 

TOTAL

2097.795

1913.684

1628.135

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Income

5880.478

7204.126

5331.751

 

 

[Due to market fluctuation]

 

 

Other Income

104.036

33.154

41.517

 

TOTAL (A)

5984.514

7237.280

5373.268

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

0.000

0.000

0.000

 

Purchases of Stock-in-Trade

5528.678

6547.885

4943.505

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(63.615)

98.008

(25.798)

 

Employees benefits expense

17.805

14.570

12.621

 

Other expenses

281.707

255.204

217.148

 

TOTAL (B)

5764.575

6915.667

5147.476

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

219.939

321.613

225.792

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

89.487

99.486

44.834

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

130.452

222.127

180.958

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

26.551

39.635

16.941

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

103.901

182.492

164.017

 

 

 

 

 

Less

TAX (H)

28.745

50.157

29.705

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

75.156

132.335

134.312

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

640.862

532.104

421.428

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

NA

9.925

10.073

 

Dividend

NA

11.669

11.669

 

Tax on Dividend

NA

1.983

1.893

 

Total

NA

23.577

23.635

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

NA

640.862

532.104

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

 NA

6766.724

4941.914

 

TOTAL EARNINGS

NA

6766.724

4941.914

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

2.58

4.54

4.60

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

PARTICULARS

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

NA

12.857

--

Cash generated from operations

NA

(214.803)

(238.942)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

1.28

1.84

2.52

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

3.74

4.46

4.23

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

5.62

10.39

11.16

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.11

0.21

0.22

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.06

1.06

0.81

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.31

1.56

1.33

 

 

STOCK PRICES

 

Face Value

Rs.2.00/-

Market Value

Rs.8.90/-

 

 

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

58.459

58.459

58.459

Reserves & Surplus

688.089

806.774

880.772

Share Application money pending allotment

0.000

0.000

0.000

Net worth

746.548

865.233

939.231

 

 

 

 

long-term borrowings

0.422

71.136

71.831

Short term borrowings

603.937

843.622

925.051

Total borrowings

604.359

914.758

996.882

Debt/Equity ratio

0.810

1.057

1.061

 

 

 

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

5331.751

7204.126

5880.478

 

 

35.117

(18.373)

 

 

 

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

5331.751

7204.126

5880.478

Profit

134.312

132.335

75.156

 

2.52%

1.84%

1.28%

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

Yes

5

Buyer visit details

----

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

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)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

Yes

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%

Yes

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

Yes

32

Litigations that the firm/promoter involved in

---

33

Market information

---

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

UNSECURED LOAN

 

PARTICULARS

31.03.2015

(Rs. in Million)

31.03.2014

(Rs. in Million)

Long-term Borrowings

 

 

Loans and Advance from related parties

NA

0.422

Short-term borrowings

 

 

Working Capital Loans from others

NA

102.604

Total

NA

103.026

 

CONTINGENT LIABILITIES

 

a) Contingent Liabilities not provided for in respect of Bills Discounted of Rs. Not Available (previous years Rs. 604.535 Million)

 

b) Claims not acknowledged by the Company relating to cases contested by the Company

 

PARTICULARS

31.03.2015

(Rs. in Million)

31.03.2014

(Rs. in Million)

Income Tax Matter (Pending before Appellate Authorities in respect of which the Company is in appeal)

NA

25.224

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10513506

10/06/2014

340,000,000.00

HDFC BANK LIMITED

HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL 
W, MUMBAI, Maharashtra - 400013, INDIA

C15227507

2

10496816

07/04/2014

140,000,000.00

THE RATNAKAR BANK LIMITED

SHAHUPURI,KOLHAPUR,, KOLHAPUR, Maharashtra - 41600 
1, INDIA

C05239793

3

10425104

03/10/2013 *

200,000,000.00

CITIBANK N. A.

FIRST INTERNATIONAL FINANCIAL CENTRE, 9TH FLOOR,, 
PLOT NO.C-54, C-55, G-BLOCK, BKC, BANDRA (E),, MU 
MBAI, Maharashtra - 400051, INDIA

B88803499

4

10408602

29/04/2015 *

114,800,000.00

CENTRAL BANK OF INDIA

CORPORATE FINANCE BRANCH,IST FLOOR,MMO BLD, FORT, 
MUMBAI, Maharashtra - 400023, INDIA

C52398591

5

10337400

08/02/2012 *

70,000,000.00

ICICI BANK LIMITED

LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Guj 
arat - 390015, INDIA

B33385915

6

80057514

10/01/2013 *

158,500,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, N. G. N. VAIDYA MARG,, BANK S 
TREET, HORNIMAN CIRCLE, FORT,, MUMBAI, Maharashtra 
- 400023, INDIA

B67338624

7

80057512

03/10/2013 *

150,000,000.00

DBS BANK LTD.

3rd Floor, Fort House, Dr. D N Road, Fort, Mumbai 
, Maharashtra - 400001, INDIA

B89653190

 

* Date of charge modification

 

FIXED ASSETS

 

  • Land
  • Building
  • Office Equipments
  • Furniture and Fixtures
  • Motor Car
  • Computers

 

 

 

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 records 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.63.92

UK Pound

1

Rs.100.40

Euro

1

Rs.70.41

 

 

INFORMATION DETAILS

 

Information Gathered by :

SPR

 

 

Analysis Done by :

KAR

 

 

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

5

--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

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

YES

--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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.