MIRA INFORM REPORT
|
Report No. : |
310903 |
|
Report Date : |
09.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
GTN ENGINEERING (INDIA) LIMITED (w.e.f. 02.01.2008) |
|
|
|
|
Formerly Known
As : |
GTN EXPORTS LIMITED (w.e.f. 13.06.1988) JAYTEX HOLDING LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 29, Nagarjuna Hills, Punjagutta, Hyderabad – 500082,
Telangana, India. |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
24.07.1981 |
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|
|
|
Com. Reg. No.: |
36- 041292 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.29.510 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909TG1981PLC041292 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AABCG2838G |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacture and sale (Domestic / Exports) of cotton yarn. |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 having satisfactory track record. General financial position of the company seems to be sound and healthy.
Profitability of the company is decent. Trae 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
Long term fund based facilities: BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
January 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term fund based facilities: A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
January 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
31-03-2014.
LOCATIONS
|
Registered Office : |
Plot No. 29, Nagarjuna Hills, Punjagutta, Hyderabad – 500082,
Telangana, India. |
|
Tel. No.: |
91-40-43407777 |
|
Fax No.: |
91-40-2358400/23358387 |
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E-Mail : |
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|
Website : |
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|
|
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|
Factory 1 : |
2/439, K.S.N. Puram, Semmipalayam, Trichy Road, Palladam Taluk,
Coimbatore – 641 662, Tamilnadu, India. |
|
Tel. No.: |
91-04-255278009/278110 |
|
Fax No.: |
91-04-255278008 |
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E-Mail : |
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|
Website: |
DIRECTORS
As on 28.08.2014
|
Name : |
Mr. Mahendra Kumar Patodia |
|
Designation : |
Director |
|
Address : |
Plot No.145, Road No. 3, Banjara Hills, Hyderabad – 500034, Telangana,
India |
|
Date of Birth/Age : |
25.08.1951 |
|
Date of Appointment : |
24.07.1981 |
|
DIN No.: |
00004752 |
|
PAN No.: |
AFKPP4069B |
|
|
|
|
Name : |
Mr. C.R. Gang |
|
Designation : |
Director |
|
Address : |
406, Lumbini Rockdale Emrald, Block, Somajbuda, Hyderabad –
500082, Telangana, India |
|
Date of Birth/Age : |
15.07.1952 |
|
Date of Appointment : |
10.12.2008 |
|
DIN No.: |
00008288 |
|
|
|
|
Name : |
Mr.George Joseph Chempakathinal
|
|
Designation : |
Director |
|
Address : |
301, Swathi Apartments, H No. 7-1-45/1 Ameer pet, Hyderabad – 500016,
Telangana, India |
|
Date of Birth/Age : |
02.02.1950 |
|
Date of Appointment : |
07.12.2011 |
|
DIN No.: |
00309739 |
|
PAN No.: |
AFRPP0107M |
|
|
|
|
Name : |
Mr. Vikram Ravindra Mamidipudi |
|
Designation : |
Director |
|
Address : |
Plot No. 16, card Master Road, Tarbund, Secunderabad – 50009,
Telangana, India |
|
Date of Birth/Age : |
18.05.1956 |
|
Date of Appointment : |
04.07.2014 |
|
DIN No.: |
00008241 |
|
|
|
|
Name : |
Madhavi Konda |
|
Designation : |
Director |
|
Address : |
Flat No.403, Aakruti Aditya Towers, 36 Naushir, Bharucha Marg, Raatuwala
Grant Road West, Mumbai – 400007, Maharashtra, India |
|
Date of Birth/Age : |
14.06.1970 |
|
Date of Appointment : |
04.07.2014 |
|
DIN No.: |
06944280 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.08.2014
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
V.Raghu Ram |
|
1 |
|
J.Venkateswarlu |
|
2 |
|
Anjana Patodia |
|
36900 |
|
Mahendra Kumar Patodia |
|
74202 |
|
Mahendra Patodia (HUF) |
|
6843 |
|
Megah Investments Private Limited |
|
877 |
|
Emkaypee Investments Private Limited |
|
735 |
|
Jel Finance And Investments Limited |
|
512 |
|
M.Satyanarayana |
|
12 |
|
C R Gang |
|
11 |
|
Susheel Sancheti |
|
1 |
|
Navin Kumar Sancheti |
|
1 |
|
C.George Joseph |
|
1 |
|
N.K.Ajmera |
|
1 |
|
Total |
|
120099 |
Equity Share Break up (Percentage of Total Equity)
As on 28.08.2014
|
Category |
Percentage |
|
Bodies corporate |
7.46 |
|
Directors or relatives of Directors |
92.53 |
|
Other |
0.01 |
|
Total |
100.00 |
%20LIMITED%20-%20310903%2009-Mar-2015_files/image013.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacture and sale (Domestic / Exports) of cotton yarn. |
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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 : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Finance Institute: |
SBI Factors And Commercial Services Private Limited, 205b,
2nd Floor, Minerva Complex, S D Road, Secunderabad - 500003, Andhra Pradesh,
India |
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|
|
Auditors : |
|
|
Name : |
Lodha and Company Chartered Accountant |
|
Address : |
No 6, Karim Chambers, 40 Ambalal Doshi Marg, Fort, Mumbai-400001, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABFL1894Q |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiaries : |
Modesty Textiles Limited, India [U17291TG2003PLC040852] |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
199750 |
Equity Shares |
Rs.100/- each |
Rs.19.975 Millions |
|
200250 |
Preference Shares |
Rs.100/- each |
Rs.20.025 Millions |
|
Total |
|
Rs.40.000
Millions |
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
120099 |
Equity Shares |
Rs.100/-
each |
Rs.12.010
Millions |
|
175000 |
Preference Shares |
Rs.100/-
each |
Rs.17.500
Millions |
|
|
Total |
|
Rs.29.510 Millions |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
29.510 |
11.873 |
11.873 |
|
(b) Reserves & Surplus |
2187.178 |
1778.055 |
1281.187 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.137 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
2216.688 |
1790.065 |
1293.060 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
603.655 |
502.281 |
110.468 |
|
(b) Deferred tax liabilities
(Net) |
156.561 |
117.489 |
35.875 |
|
(c) Other long term
liabilities |
2.368 |
2.262 |
2.232 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
762.584 |
622.032 |
148.575 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
618.404 |
288.984 |
244.444 |
|
(b) Trade payables |
572.176 |
355.584 |
337.556 |
|
(c) Other current liabilities |
178.802 |
109.898 |
70.413 |
|
(d) Short-term provisions |
54.301 |
91.193 |
54.132 |
|
Total
Current Liabilities (4) |
1423.683 |
845.659 |
706.545 |
|
|
|
|
|
|
TOTAL |
4402.955 |
3257.756 |
2148.180 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1343.528 |
876.443 |
425.347 |
|
(ii) Intangible Assets |
1.988 |
1.668 |
2.407 |
|
(iii) Capital work-in-progress |
4.934 |
0.076 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
131.515 |
61.551 |
326.638 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
38.690 |
26.637 |
36.197 |
|
(e) Other Non-current assets |
284.595 |
17.950 |
0.000 |
|
Total
Non-Current Assets |
1805.250 |
984.325 |
790.589 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.040 |
|
(b) Inventories |
935.068 |
656.350 |
612.900 |
|
(c) Trade receivables |
856.112 |
1008.174 |
511.593 |
|
(d) Cash and cash equivalents |
497.713 |
133.722 |
121.806 |
|
(e) Short-term loans and
advances |
36.252 |
72.469 |
21.000 |
|
(f) Other current assets |
272.560 |
402.716 |
90.252 |
|
Total
Current Assets |
2597.705 |
2273.431 |
1357.591 |
|
|
|
|
|
|
TOTAL |
4402.955 |
3257.756 |
2148.180 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
4498.102 |
3898.836 |
2560.229 |
|
|
Other Income |
32.307 |
72.433 |
9.771 |
|
|
TOTAL
(A) |
4530.409 |
3971.269 |
2570.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
2180.678 |
1555.948 |
1147.808 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(81.626) |
6.183 |
42.511 |
|
|
Employees benefits expense |
390.455 |
310.871 |
134.282 |
|
|
Other expenses |
1139.712 |
892.217 |
608.006 |
|
|
TOTAL
(B) |
3629.219 |
2765.219 |
1932.607 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
901.190 |
1206.050 |
637.393 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
118.352 |
117.701 |
50.552 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
782.838 |
1088.349 |
586.841 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
95.267 |
83.533 |
37.762 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
687.571 |
1004.816 |
549.079 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
254.913 |
322.320 |
179.782 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
432.658 |
682.496 |
369.297 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
3640.55 |
5682.78 |
3110.37 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
9.62 |
17.51 |
14.42 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
20.03 |
30.93 |
24.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.12 |
31.44 |
30.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.56 |
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.55 |
0.44 |
0.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.82 |
2.69 |
1.92 |
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 |
11.873 |
11.873 |
29.510 |
|
Reserves & Surplus |
1281.187 |
1778.055 |
2187.178 |
|
Share Application money pending allotment |
0.000 |
0.137 |
0.000 |
|
Net
worth |
1293.060 |
1790.065 |
2216.688 |
|
|
|
|
|
|
long-term borrowings |
110.468 |
502.281 |
603.655 |
|
Short term borrowings |
244.444 |
288.984 |
618.404 |
|
Total
borrowings |
354.912 |
791.265 |
1222.059 |
|
Debt/Equity
ratio |
0.274 |
0.442 |
0.551 |
%20LIMITED%20-%20310903%2009-Mar-2015_files/image015.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
2560.229 |
3898.836 |
4498.102 |
|
|
|
52.285 |
15.370 |
%20LIMITED%20-%20310903%2009-Mar-2015_files/image017.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
2560.229 |
3898.836 |
4498.102 |
|
Profit |
369.297 |
682.496 |
432.658 |
|
|
14.42% |
17.51% |
9.62% |
%20LIMITED%20-%20310903%2009-Mar-2015_files/image019.gif)
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OVERVIEW OF THE
COMPANY
Subject was incorporated on 24.07.1981 and has got its registered office at Hyderabad. The Company had entered into a Scheme of Arrangement for amalgamation which was approved by the Hon’ble High Court of Andhra Pradesh vide its Order dated 23 rd July, 2013. During the year the Company has purchased the textile manufacturing facility of Soma Textiles and Industries Limited situated at Baramati asa going concern on “slump sale” basis. The Company carries out its operations through Engineering Unit, GTN Spinning Mills Unit, Perfect Knitters – Fabric Processing Unit, Perfect Knitters Garment Unit, Imperial Garments Unit, Imperial Socks Unit and Cotstyle Apparels Unit.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand |
22.957 |
24.164 |
|
Total |
22.957 |
24.164 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10494475 |
27/03/2014 |
78,500,000.00 |
PUNJAB NATIONAL BANK |
4-1-427, BANK STREET, HYDERABAD, ANDHRA PRADESH - |
C04487211 |
|
2 |
10494463 |
27/03/2014 |
620,000,000.00 |
PUNJAB NATIONAL BANK |
4-1-427, BANK STREET, HYDERABAD, ANDHRA PRADESH - |
C04484598 |
|
3 |
10346107 |
06/08/2012 * |
180,500,000.00 |
PUNJAB NATIONAL BANK |
4-1-427, AGM'S OFFICE, BANK STREET, HYDERABAD, AN |
B57728222 |
|
4 |
10336033 |
04/01/2012 |
87,500,000.00 |
CENTRAL BANK OF INDIA |
CORPORATE FINANCE BRANCH, BANK STREET, HYDERABAD, |
B32310674 |
|
5 |
10325241 |
03/11/2011 |
2,370,000.00 |
CORPORATION BANK |
HYDERGUDA BRANCH, HYDERABAD, HYDERABAD, ANDHRA PR |
B28587418 |
|
6 |
10322794 |
02/11/2011 |
88,201,181.00 |
EXPORT-IMPORT BANK OF INDIA |
FLOOR 21 CENTRE ONE BUILDING, WORLD TRADE CENTRE, |
B27729516 |
|
7 |
10295387 |
26/05/2011 |
3,950,000.00 |
IDBI BANK LIMITED |
5-9-89/1, 2ND FLOOR, CHAPAL ROAD, ABIDS, HYDERABA |
B16267569 |
|
8 |
10292273 |
28/04/2011 |
90,800,000.00 |
EXPORT-IMPORT BANK OF INDIA |
FLOOR 21, CENTRE ONE BUILDING, WORLD TRADE CENTER |
B15028525 |
|
9 |
10283778 |
26/05/2011 * |
31,600,000.00 |
EXPORT-IMPORT BANK OF INDIA |
FLOOR 21, CENTER ONE BUILDING, WORLD TRADE CENTRE |
B13759931 |
|
10 |
10293201 |
26/05/2011 * |
178,200,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, RAJBHAVAN ROAD, SOMAJI |
B16753717 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Buildings
- Land
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
Intangible assets
- Computer software
- Brands and trade marks
- Trade marks
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.62.20 |
|
|
1 |
Rs.94.71 |
|
Euro |
1 |
Rs.68.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.