MIRA INFORM REPORT
|
Report No. : |
311079 |
|
Report Date : |
10.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
EXPO GAS
CONTAINERS LIMITED |
|
|
|
|
Registered
Office : |
Expo House, 150 Sheriff Devji Street, Mumbai – 400 003, Maharashtra |
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Country : |
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|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
19.07.1982 |
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|
|
|
Com. Reg. No.: |
11-027837 |
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|
|
Capital Investment
/ Paid-up Capital : |
Rs. 76.145 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L40200MH1982PLC027837 |
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|
|
|
IEC No.: |
Not Available |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUME05138A |
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|
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PAN No.: [Permanent Account No.] |
AAAFE1419R |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchange. |
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|
Line of Business
: |
Manufacturing of process plant equipment such as coded pressure Vessels,
Deaerators, Column and Towers, Reactors, Heat Exchange etc. |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
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 : |
Exist |
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Comments : |
Subject is an established company having satisfactory track record. Financial position of the company seems to be decent. 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 – 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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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 : |
Expo House, |
|
Tel. No.: |
91-22-23432106/ 07/ 08/ 40339600 |
|
Fax No.: |
91-22-23401635 |
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E-Mail : |
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Website : |
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|
Factory : |
A-10, MIDC, Murbad, District Thane – 421401, |
|
Tel. No.: |
91-2524-222366 / 222344/ 697884 |
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Fax No.: |
91-2524-222186 |
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Email : |
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Regional Offices: |
Located at: · Haldia ·
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Overseas Office : |
2nd Floor, Room No. 201, AI Sharif Building, P.O. Box 22602, Port Saeed, Dubai, U.A.E |
|
Tel No.: |
+971 4 2959185 |
DIRECTORS
As on 26.09.2014
|
Name : |
Mr. Shaukatali S. Mewawala |
|
Address : |
90-Wood House Road, 9 Cleave House, Colaba, Mumbai – 400005,
Maharashtra, India |
|
Date of Birth/Age : |
09.06.1946 |
|
Date of Appointment : |
19.07.1982 |
|
Designation : |
Chairman and Managing Director |
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Qualification : |
Technocrat, Businessman and Qualified Engineer from I.I.T., |
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|
|
|
Name : |
Mr. Bhagwan N. Bharadwaj |
|
Designation : |
Non- Executive Director |
|
Address : |
1102, B1, |
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Date of Birth/Age : |
20.12.1933 |
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Date of Appointment : |
28.06.1991 |
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Qualification : |
Qualified Engineer |
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|
|
|
Name : |
Mr. Hasanain Mewawala |
|
Designation : |
Director |
|
Address : |
90-Wood House Road, 9 Cleave House, Colaba, Mumbai – 400005,
Maharashtra, India |
|
Date of Birth/Age : |
20.08.1978 |
|
Date of Appointment : |
14.12.2009 |
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|
|
|
Name : |
Mr. Sajjadhussein Nathani |
|
Designation : |
Non-Executive Director |
|
Address : |
104 Blue Saini Andrews Road, C-11 Gul apartment, Pali Hillb Bandra
West, Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
26.10.1961 |
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Date of Appointment : |
14.12.2009 |
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|
|
|
Name : |
Mr. Tripat Nath Tribhuwan |
|
Designation : |
Director |
|
Address : |
Durgachak E Block, Durgachak, Midnapur - 721602, West Bengal, India |
|
Date of Birth/Age : |
01.04.1965 |
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Date of Appointment : |
20.07.2012 |
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|
|
|
Name : |
Mr. Shailesh Dhimantlal shah |
|
Designation : |
Director |
|
Address : |
15 Saket chs. Saraswati Road, Santcruz West, Mumbai – 400054,
Maharashtra, India |
|
Date of Birth/Age : |
09.02.1953 |
|
Date of Appointment : |
11.08.2014 |
MAJOR SHAREHOLDERS
As on 31.12.2014
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of
Promoter and Promoter Group |
||
|
|
|
|
|
|
5305000 |
27.87 |
|
|
7526925 |
39.54 |
|
|
7526925 |
39.54 |
|
|
12831925 |
67.41 |
|
|
|
|
|
Total shareholding
of Promoter and Promoter Group (A) |
12831925 |
67.41 |
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
400 |
0.00 |
|
|
400 |
0.00 |
|
|
|
|
|
|
583226 |
3.06 |
|
|
|
|
|
|
4508168 |
23.68 |
|
|
976670 |
5.13 |
|
|
136011 |
0.71 |
|
|
33398 |
0.18 |
|
|
102413 |
0.54 |
|
|
200 |
0.00 |
|
|
6204075 |
32.59 |
|
Total Public
shareholding (B) |
6204475 |
32.59 |
|
Total (A)+(B) |
19036400 |
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) |
19036400 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of process plant equipment such as coded pressure
Vessels, Deaerators, Column and Towers, Reactors, Heat Exchange etc. |
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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 Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
· Indo Rama Synthetics (I) Limited · Larsen and Toubro Limited · Jindal Steel and Power Limited · Brahmaputra Cracker and Polymer Limited · Samsung Engineering Company Limited · Gujarat Fluoro Chemicals Limited · MAN Ferrostaal AG · Gulf Farabi Petrochemical Company Limited · Cairn Energy India Pty. Limited · Oil and Natural Gas Corporation Limited
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No. of Employees : |
Not Divulged |
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Bankers : |
· The Saraswat Co-operative Bank Limited SME, Vile Parle (East) Branch, Bholanath CHS Limited, Ground and First
Floor, |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
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|
Name : |
Ketan N. Shah and Company Chartered Accountants |
|
Address : |
503, Sai Leela Commercial Complex, S. V. Road Opp. Moksh Plaza, Borivali West, Maharashtra, India |
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PAN No. : |
AGPPS4630K |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates Companies : |
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CAPITAL STRUCTURE
As on 26.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.4/- each |
Rs. 80.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19036400 |
Equity Shares |
Rs.4/- each |
Rs. 76.145
Million |
|
|
|
|
|
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 |
76.145 |
76.145 |
76.145 |
|
(b) Reserves & Surplus |
125.385 |
68.843 |
60.076 |
|
(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) |
201.530 |
144.988 |
136.221 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
71.170 |
71.012 |
24.242 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
71.170 |
71.012 |
24.242 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
150.381 |
163.582 |
220.987 |
|
(b) Trade payables |
42.379 |
60.154 |
73.559 |
|
(c) Other current liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term provisions |
19.958 |
15.209 |
13.735 |
|
Total
Current Liabilities (4) |
212.718 |
238.945 |
308.281 |
|
|
|
|
|
|
TOTAL |
485.418 |
454.945 |
468.744 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
77.830 |
85.488 |
92.431 |
|
(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 |
0.025 |
0.025 |
0.025 |
|
(c) Deferred tax assets (net) |
48.034 |
51.999 |
54.110 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
125.889 |
137.512 |
146.566 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
183.215 |
160.874 |
163.576 |
|
(c) Trade receivables |
125.776 |
114.840 |
119.560 |
|
(d) Cash and cash equivalents |
14.871 |
10.115 |
10.351 |
|
(e) Short-term loans and
advances |
35.667 |
31.604 |
28.691 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
359.529 |
317.433 |
322.178 |
|
|
|
|
|
|
TOTAL |
485.418 |
454.945 |
468.744 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
454.318 |
351.127 |
322.756 |
|
|
Other Income |
0.974 |
1.565 |
0.494 |
|
|
TOTAL
(A) |
455.292 |
352.692 |
323.250 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
136.599 |
123.175 |
142.628 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(21.107) |
(13.901) |
(51.979) |
|
|
Employees benefits expense |
38.245 |
36.294 |
27.671 |
|
|
Other expenses |
227.523 |
158.065 |
147.144 |
|
|
TOTAL
(B) |
381.260 |
303.633 |
265.464 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
74.032 |
49.059 |
57.786 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
45.468 |
27.725 |
35.850 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
28.564 |
21.334 |
21.936 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
7.773 |
7.819 |
7.803 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
20.791 |
13.515 |
14.133 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
8.125 |
4.748 |
-3.432 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
12.666 |
8.767 |
17.565 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.67 |
0.46 |
0.92 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
2.79 |
2.50 |
5.44 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
16.30 |
13.97 |
17.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.75 |
3.35 |
3.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.09 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.10 |
1.62 |
1.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.69 |
1.33 |
1.05 |
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 |
76.145 |
76.145 |
76.145 |
|
Reserves & Surplus |
60.076 |
68.843 |
125.385 |
|
Net
worth |
136.221 |
144.988 |
201.530 |
|
|
|
|
|
|
long-term borrowings |
24.242 |
71.012 |
71.170 |
|
Short term borrowings |
220.987 |
163.582 |
150.381 |
|
Total
borrowings |
245.229 |
234.594 |
221.551 |
|
Debt/Equity
ratio |
1.800 |
1.618 |
1.099 |
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 |
322.756 |
351.127 |
454.318 |
|
|
|
8.790 |
29.389 |
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 |
322.756 |
351.127 |
454.318 |
|
Profit |
17.565 |
8.767 |
12.666 |
|
|
5.44% |
2.50% |
2.79% |
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 |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
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 |
No |
|
LITIGATION DETAILS |
|||||||
|
Bench:- Bombay |
|||||||
|
Lodging No. : |
SL/238/2009 |
Failing Date:- |
28/01/2009 |
Reg No. :- |
S/607/2009 |
Reg Date :- |
07/03/2009 |
|
Petitioner:- |
PALADIN PAINTS AND CHEMICALS PVT. L |
Respondent:- |
EXPO GAS CONTAINERS LTD. |
||||
|
Petn.Adv:- |
|
Resp. Adv.: |
0 (0) |
||||
|
District:- |
MUMBAI |
||||||
|
Bench:- |
SINGLE |
Category:- |
SUITS FOR GOODS SOLD AND DELIVERED |
||||
|
Status:- |
Pre-Admission |
Stage:- |
FOR WITHDRAWAL |
||||
|
Last Date:- |
01/09/2009 |
||||||
|
Last Coram:- |
HON’BLE SHRI JUSTICS S.C. DHARMADHIKARI |
||||||
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
SHORT TERM
BORROWING |
|
|
|
Loan and advances from related party |
46.175 |
55.482 |
|
|
|
|
|
Total |
46.175 |
55.482 |
FINANCIAL RESULTS
The company achieved gross turnover of Rs. 455.291 Million for the year ended 31 st March, 2014 against Rs. 352.692 Million in the previous year. The F.Y. 2013-14 has seen the company successfully improve its performance. The company has achieved a EBIDTA of Rs. 74.032 Million for the year ended 31 st March, 2014 as against Rs. 49.058 Million for the previous Financial Year. This amounts to 50.91% over the previous year. The EBIDTA margin has improved from 13.91% to 16.26% during the Current F.Y. The Profit Before Tax for the current period under review was Rs. 20.791 Million as compared to Rs. 13.515 Million.
OPPORTUNITY AND
FUTURE OUTLOOK
The Indian economy growth has slowed down considerably. This scenario has been adversely impacted by many factors including difficulties in obtaining environmental clearance for new projects, land acquisitions etc. The continuous high fiscal and balance of payment deficit have also caused a severe dent in the confidence of the economy. The investment in main core sectors has reduced drastically. Even though there is no dearth in viable projects, several factors, including those mentioned above have resulted in new projects coming to a vital stand still.
The fact that the Company still has a decent order book will help it to tide over the concern. The Management expects the Company to be in healthy shape to take advantage of the upturn in Indian and world economy. The company is in continuous process to improve its marketing efforts. As a result of this the Company has been able to sustain its order book despite the tough competitive environment. With large size jobs being taken up, the Company has considerably strengthened its senior management level in project execution. Your company continues to put great emphasize on securing new business from existing as well as new customers and new geographies.
THE INDIAN ECONOMY
The growth in Indian economy during the F.Y. 2014 has considerably slowed down. The Current Account deficits have increased and overall GDP growth rates have reduced. The exports have become stagnant and imports have increased. Inflation has also considerably increased. The interest rates are also not showing any signs of reduction. The weakening of Indian Rupee to US dollar could also lead to increase in inflation.
INDUSTRY STRUCTURE
AND DEVELOPMENTS
Due to general slowdown in economy and lack of confidence amongst both domestic and international investor, large investment has slowed down considerably. The new Core sector projects are also not getting various government approvals and clearances. This is expected to change with the new government taking up charge.
OUTLOOK
The management seems to be cautiously optimistic about the likely positive shift in the economic environment by 2015. This is also been reflected in the order booking for the current Financial Year.
The international market, especially in Middle East, has shown signs of recovery and stability and offer opportunities for the Company to grow its presence.
Material Developments in Human Resources/ Industrial Relations:
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10514335 |
28/07/2014 |
41,311,000.00 |
The Saraswat Cooperative Bank Ltd |
SME Vile Parle Branch, Bholanath Co-op Hsg Soc, Subhash
Road, Vile Parle East, Mumbai, Maharashtra |
C16026783 |
|
2 |
10504873 |
17/06/2014 |
10,000,000.00 |
The Saraswat Co-op Bank Ltd |
SME Vile Parle Branch, Bholanath Co-op
Hsg Soc, Subhash Road, Vile Parle East, Mumbai, Maharashtra |
C08051757 |
|
3 |
10488701 |
28/03/2014 |
10,000,000.00 |
The Saraswat Cooperative Bank Ltd |
The Saraswat Cooperative Bank Ltd, Subhash Road, |
C02325314 |
|
4 |
10391125 |
29/11/2012 |
5,000,000.00 |
The Saraswat Cooperative Bank Ltd |
SME Vile Parle Branch, Bholanath Co-op Hsg Soc, Subhash Road, Vile Parle East, Mumbai,
Maharashtra |
B63797302 |
|
5 |
10208923 |
15/03/2010 |
13,300,000.00 |
The Saraswat Cooperative Bank Ltd |
SME Vile Parle
Branch, Bholanath Co-op Hsg Soc, Subhash Road, Vile Parle East, Mumbai,
Maharashtra |
A81792244 |
|
6 |
10192692 |
02/12/2009 |
10,000,000.00 |
The Saraswat Cooperative Bank Ltd |
SME Vile Parle Branch, Bholanath Co-op Hsg Soc, Subhash
Road, Vile Parle East, Mumbai, Maharashtra |
A75454272 |
|
7 |
10186287 |
28/07/2014 * |
100,000,000.00 |
The Saraswat Cooperative Bank Ltd |
SME Vile Parle Branch, Bholanath Co-op Hsg Soc, Subhash
Road, Vile Parle East, Mumbai, Maharashtra |
C16025751 |
|
8 |
10186307 |
27/01/2015 * |
259,900,000.00 |
The Saraswat Cooperative Bank Ltd |
SME Vile Parle Branch, Bholanath Co-op Hsg Soc, Subhash
Road, Vile Parle East, Mumbai, Maharashtra |
C44338622 |
|
9 |
10186288 |
21/10/2009 |
10,000,000.00 |
The Saraswat Cooperative Bank Ltd |
SME Vile Parle Branch, Bholanath Co-op Hsg Soc, Subhash
Road, Vile Parle East, Mumbai, Maharashtra |
A73372211 |
|
10 |
10186510 |
21/10/2009 |
35,000,000.00 |
The Saraswat Cooperative Bank Ltd |
SME Vile Parle Branch, Bholanath Co-op Hsg Soc, Subhash
Road, Vile Parle East, Mumbai, Maharashtra |
A73494155 |
* Date of charge modification
FIXED ASSETS
Ř
Land
Ř
Factory Shed
Ř
Furniture and Fixture
Ř
Vehicles
Ř
Spares Tools and Dies
Ř
Plant and Machinery
Ř
Electrical Installation
Ř
Office Equipments
Ř
Computers
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.62.62 |
|
|
1 |
Rs.94.39 |
|
Euro |
1 |
Rs.67.96 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ART |
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 |
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 |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.