MIRA INFORM REPORT
|
Report No. : |
313070 |
|
Report Date : |
18.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHIRIPAL INDUSTRIES LIMITED (w.e.f.13.04.2006) |
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|
|
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Formerly Known
As : |
CHIRIPAL PETROCHEMICALS LIMITED (w.e.f.07.01.2004) CHIRIPAL TWISTING AND SIZING LIMITED (w.e.f.23.10.2003) CHIRIPAL TWISTING AND SIZING PRIVATE LIMITED |
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Registered
Office : |
Survey No.199, 200/1 and 200/2, Saijpur-Gopalpur, Pirana Road, Piplej,
Ahmedabad – 382405, Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
27.04.1988 |
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Com. Reg. No.: |
04-010634 |
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Capital
Investment / Paid-up Capital : |
Rs. 243.489 Millions
|
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|
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CIN No.: [Company Identification
No.] |
U17110GJ1988PLC010634 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMC00373C |
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PAN No.: [Permanent Account No.] |
AAACC8513B |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of wide range of Textile Value Chain viz.
Partially Oriented Yarn (POY), Fully Drawn Yarn (FDY), Draw Twisted Yarn (DTY),
Texturising Yarn, Polar Fleece Fabrics, Special Coated Fabrics and processing
of fabrics, embroidery etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 7500000 |
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|
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 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 – 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 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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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/ Factory : |
Survey No.199, |
|
Tel. No.: |
91-79-25710231-34/ 25714568/ 1655/ 0886 |
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Fax No.: |
91-79-25711755/ 25714569 |
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E-Mail : |
cs.cil@chiripalgroup.com purvee@chiripalgroup.com |
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Website : |
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Corporate Office : |
‘Chiripal House’, Shiv Ranjini, Cross Road, Satelite, Ahmedabad -
380015, Gujarat, India |
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Tel. No.: |
91-79-27634660/ 2/ 3 |
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Fax No.: |
91-79-26768656 |
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Email : |
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Mumbai Office : |
109-110, Peninsula Center, Dr. S. S. Rao Road, Lower
Parel, Mumbai - 400012. |
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Tel. No.: |
91-22-56604123 |
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Fax No.: |
91-22-56604124 |
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Email : |
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Marketing Office : |
21, Century Business Centre, |
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Tel. No.: |
91-261-6627078/ 79 |
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E-Mail : |
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Fabric Division: |
Survey No 174, Saijpur Gopalpur Pirana Road, Piplek, Ahmedabad – 382405, Gujarat, India |
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Tel. No.: |
91-79-25714568 |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Vedprakash Devkinandan Chiripal |
|
Designation : |
Managing director |
|
Address : |
11, Nandi Hill Society, Satellite Road, Ahmedabad – 380015, Gujarat, India
|
|
Date of Birth/Age : |
21.11.1951 |
|
Qualification : |
B.Com |
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Date of Appointment : |
01.10.2008 |
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PAN No.: |
AAHPC2102Q |
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DIN No.: |
00290454 |
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|
|
|
Name : |
Mr. Ambalal Chhitabhai Patel |
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Designation : |
Director |
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Address : |
14/ B, Shreyasnath Society, Vasana, Dhranidhar Derasar, Ahmedabad,
Gujarat, India |
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Date of Birth/Age : |
01.04.1944 |
|
Qualification : |
B.E.
(Metallurgy), B.Sc. (Chemistry) |
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Date of Appointment : |
29.09.2007 |
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DIN No.: |
00037870 |
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|
|
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Name : |
Mr. Jawahar Lal |
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Designation : |
Director |
|
Address : |
Nand Tara, 22 Oak Drive, Mandi Road, Sultanpur, Mehrauli, Delhi –
110030, India |
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Date of Birth/Age : |
17.12.1954 |
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Qualification : |
Under Graduate |
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Date of Appointment : |
29.09.2008 |
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DIN No.: |
00076462 |
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|
|
|
Name : |
Mr. Rajesh Premchand Bindal |
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Designation : |
Whole-time director |
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Address : |
10, Mangalyam Society, Near Ocean Park, Nehru Nagar Road, Ahmedabad –
380015, Gujarat, India |
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Date of Birth/Age : |
30.11.1973 |
|
Qualification : |
B.Com |
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Date of Appointment : |
10.01.2013 |
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PAN No.: |
ABAPB3497M |
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DIN No.: |
00155156 |
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|
|
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Name : |
Mr. Jaiprakash Devkinandan Chiripal |
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Designation : |
Whole-time director |
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Address : |
10, Nandi Hill Society, Satellite Road, Ahmedabad – 380015, Gujarat,
India |
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Date of Birth/Age : |
02.11.1959 |
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Qualification : |
B.Com |
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Date of Appointment : |
01.09.2011 |
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PAN No.: |
AAJPA4564C |
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DIN No.: |
00155430 |
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|
|
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Name : |
Mr. Jyotiprasad Devkinandan Chiripal |
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Designation : |
Director |
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Address : |
91, Basant Bahar Bunglows, Bopal, Ahmedabad – 380058, Gujarat, India |
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Date of Birth/Age : |
21.08.1953 |
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Qualification : |
B.Com |
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Date of Appointment : |
07.08.2006 |
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PAN No.: |
AAJPA4565D |
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DIN No.: |
00155695 |
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|
|
|
Name : |
Asha Diwakar Prabhu |
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Designation : |
Nominee Director |
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Address : |
402, Maitri Lily, CMS, Maitri Garden, Pokhran Road No. 2, Near Oswal
Park, Thane West – 400601, Maharashtra, India |
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Date of Birth/Age : |
09.11.1956 |
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Date of Appointment : |
26.08.2014 |
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DIN No.: |
06985216 |
KEY EXECUTIVES
|
Name : |
Mr. Diensh Jamanalal Inani |
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Designation : |
Secretary |
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Address : |
A-401, Neelkanth Park – 2, Ghoda Camp Road, Shahibaug, Ahmedabad –
380004, Gujarat, India |
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Date of Birth/Age : |
09.08.1965 |
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Date of Appointment : |
09.08.1965 |
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PAN No.: |
AACPI2847M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
8.33 |
|
Bodies corporate |
36.33 |
|
Directors or relatives of Directors |
51.86 |
|
Other top fifty shareholders |
3.48 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of wide range of Textile Value Chain viz.
Partially Oriented Yarn (POY), Fully Drawn Yarn (FDY), Draw Twisted Yarn (DTY),
Texturising Yarn, Polar Fleece Fabrics, Special Coated Fabrics and processing
of fabrics, embroidery 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 Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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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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Auditors : |
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Name : |
Nahta Jain and Associates Chartered Accountants |
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Address : |
211, New Cloth
Market, Sarangpur, Ahmedabad – 380002, Gujarat, India |
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Income-tax
PAN of auditor or auditor's firm : |
AABFN3524D |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiary company
: |
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Associate: |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 500.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24,348,916 |
Equity Shares |
Rs. 10/- each |
Rs. 243.489
Millions |
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|
|
|
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 |
243.489 |
243.489 |
243.489 |
|
(b) Reserves & Surplus |
2396.104 |
2222.862 |
2085.907 |
|
(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) |
2639.593 |
2466.351 |
2329.396 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1031.113 |
1368.156 |
1807.864 |
|
(b) Deferred tax liabilities
(Net) |
235.458 |
254.373 |
258.300 |
|
(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) |
1266.571 |
1622.529 |
2066.164 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1170.512 |
984.567 |
944.382 |
|
(b) Trade payables |
698.840 |
689.492 |
636.812 |
|
(c) Other current liabilities |
37.465 |
51.900 |
50.346 |
|
(d) Short-term provisions |
107.605 |
111.156 |
81.624 |
|
Total
Current Liabilities (4) |
2014.422 |
1837.115 |
1713.164 |
|
|
|
|
|
|
TOTAL |
5920.586 |
5925.995 |
6108.724 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2511.893 |
2749.379 |
2976.279 |
|
(ii) Intangible Assets |
1.797 |
2.368 |
2.938 |
|
(iii) Capital work-in-progress |
25.234 |
15.750 |
35.696 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
342.605 |
398.095 |
398.775 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(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 |
2881.529 |
3165.592 |
3413.688 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1199.856 |
1155.617 |
1087.617 |
|
(c) Trade receivables |
1336.747 |
1214.435 |
1147.663 |
|
(d) Cash and cash equivalents |
95.688 |
95.668 |
259.184 |
|
(e) Short-term loans and
advances |
406.476 |
294.136 |
199.474 |
|
(f) Other current assets |
0.290 |
0.547 |
1.098 |
|
Total
Current Assets |
3039.057 |
2760.403 |
2695.036 |
|
|
|
|
|
|
TOTAL |
5920.586 |
5925.995 |
6108.724 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
7527.326 |
6623.771 |
6239.949 |
|
|
Other Income |
40.458 |
45.697 |
37.789 |
|
|
TOTAL
(A) |
7567.784 |
6669.468 |
6277.738 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
5558.806 |
4778.973 |
4504.352 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(72.742) |
(53.209) |
(55.368) |
|
|
Employees benefits expense |
327.923 |
250.576 |
221.08 |
|
|
Other expenses |
892.584 |
877.202 |
839.674 |
|
|
TOTAL
(B) |
6706.571 |
5853.542 |
5509.738 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
861.213 |
815.926 |
768.000 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
375.738 |
380.466 |
376.344 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
485.475 |
435.460 |
391.656 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
297.214 |
296.946 |
284.278 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
188.261 |
138.514 |
107.378 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
15.020 |
1.558 |
12.359 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
173.241 |
136.956 |
95.019 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
Export of goods calculated on
FOB basis |
186.758 |
185.432 |
192.223 |
|
|
TOTAL
EARNINGS |
186.758 |
185.432 |
192.223 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
382.335 |
636.506 |
233.072 |
|
|
Spare parts & Other matters |
14.801 |
6.890 |
9.414 |
|
|
Capital Goods |
14.771 |
31.005 |
53.581 |
|
|
TOTAL
IMPORTS |
411.907 |
674.401 |
296.067 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
7.11 |
5.62 |
4.17 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.30 |
2.07 |
1.52 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
11.44 |
12.32 |
12.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.39 |
2.51 |
1.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.06 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.83 |
0.95 |
1.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.51 |
1.50 |
1.57 |
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 |
243.489 |
243.489 |
243.489 |
|
Reserves & Surplus |
2085.907 |
2222.862 |
2396.104 |
|
Net
worth |
2329.396 |
2466.351 |
2639.593 |
|
|
|
|
|
|
long-term borrowings |
1807.864 |
1368.156 |
1031.113 |
|
Short term borrowings |
944.382 |
984.567 |
1170.512 |
|
Total
borrowings |
2752.246 |
2352.723 |
2201.625 |
|
Debt/Equity
ratio |
1.182 |
0.954 |
0.834 |
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 |
6239.949 |
6623.771 |
7527.326 |
|
|
|
6.151 |
13.641 |
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 |
6239.949 |
6623.771 |
7527.326 |
|
Profit |
95.019 |
136.956 |
173.241 |
|
|
1.52% |
2.07% |
2.30% |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
PERFORMANCE:
During the year, the Company has achieved a turnover of Rs. 7527.300 Million as compared to the previous year figure of Rs. 6623.800 Million. The Net Profit during the year has achieved to Rs. 1882.000 Million. The Directors expect to improve performance during the current year. The overall performance of the Company remains stable due to prevailing market condition of the textile industry as a whole.
CORPORATE
INFORMATION:
The Company was originally incorporated as a Private Limited Company as Chiripal Twisting and Sizing Private Limited on 27th April, 1988 under the Companies Act, 1956, in the State of Gujarat at Ahmedabad. The Company was then converted into Public Limited Company on 23/10/2003. Subsequently the name of Company was changed to Chiripal Petrochemicals Limited and fresh certificate of incorporation for change of name was obtained on 07/01/2004 from the Registrar of the Companies, Gujarat.
Later on another group companies namely Shanti Processors Limited And Priti Processors Private Limited have been merged with the company. The Hon’able High Court of Gujarat had vide its order dtd 31.03.2006 approved the amalgamation of Shanti Processors Limited and Priti Processors Private Limited with Chiripal Petrochemicals Limited. The effective date of amalgamation is 01.04.2005.
In order to impart unique identity due to amalgamation, the name of the Company has subsequently changed to Chiripal Industries Limited and fresh certificate of incorporation on change of name was obtained on 13/04/2006 from the Office of the Registrars of the Companies, Gujarat. The registered office of the Company is at Survey No.199 and 200/1-2, Saijpur - Gopalpur, Pirana Road, Piplej, Ahmedabad-382 405.
Chiripal Industries Limited (CIL) promoted by Chiripal Group
is engaged in manufacture of wide range of products along the textile value
chain viz. Partially Oriented Yarn (POY), Fully Drawn Yarn (FDY), Draw Twisted
Yarn (DTY), Texturising Yarn, Polar Fleece Fabrics, Special Coated Fabrics and
processing of fabrics, embroidery etc. at Ahmedabad in Gujarat. The Company
gets synergetic benefit of the integrated value chain of Chiripal Group
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from others |
105.162 |
145.491 |
|
Deposits from others |
11.652 |
11.274 |
|
Short-term
borrowings |
|
|
|
Term loans from others |
20.744 |
73.562 |
|
Total |
137.558 |
230.327 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10507640 |
03/07/2014 |
75,000,000.00 |
STATE BANK OF INDIA |
MID CORPORATE
GROUP, COMMERCIAL BRANCH,,"PARAMSI |
C10250306 |
|
2 |
10487642 |
03/06/2011 |
1,546,000,000.00 |
STATE BANK OF INDIA (LEAD BANK) |
STRESSED ASSETS
MANAGEMENT BRANCH, 2ND FLOOR,PARA |
B91495481 |
|
3 |
10247875 |
23/10/2010 |
265,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH, C.U. SHAH CHAMBERS, NR |
A97836670 |
|
4 |
10236238 |
11/08/2010 |
220,000,000.00 |
ORIENTAL BANK OF COMMERCE |
NEEL KAMAL BUILDING, SOPP. SALES INDIA, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA |
A92604719 |
|
5 |
10208278 |
24/02/2010 |
300,000,000.00 |
BANK OF INDIA |
AHMEDABAD CORPORATE
BANKING BRANCH, 2ND FLOOR, BA |
A81553810 |
|
6 |
10181398 |
08/09/2014 * |
4,662,900,000.00 |
PNB INVESTMENT SERVICES LIMITED |
CIRCLE OFFICE, 6TH
FLOOR, GUJARAT BHAVAN, NEAR M. |
C22361695 |
|
7 |
10114286 |
15/04/2008 |
240,000,000.00 |
JAMMU & KASHMIR BANK LTD. |
BRANCH ANSAL
PLAZA,, HUDCO PLACE, KHELGAON MARG, |
A40551517 |
|
8 |
10071585 |
04/10/2007 |
350,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA LIMITED |
IDBI COMPLEX, OPP.
MUNICIPAL STAFF QUARTERS, OFF. |
A25022914 |
|
9 |
10073773 |
14/09/2007 |
145,000,000.00 |
ALLAHABAD BANK |
S.P. NAGAR BRANCH,,
OPP.SARDAR PATEL SEVA SAMAJ B |
A25315151 |
|
10 |
80005016 |
18/04/2006 |
119,000,000.00 |
UCO BANK |
ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA |
- |
* Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in million)
|
Particulars |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
1) Corporate guarantee given in favour of Banks against
credit facilities extended |
255.000 |
255.000 |
|
2) Bank guarantee given to Commissioner of Custom, JNPT
for clearance of imported raw material during the financial year 2005-06
against which the company has provided 100% margin in form of term deposit
.The matter is still pending with the authority till the date. |
0.338 |
0.338 |
|
3) Unexpired Bank guarantees |
25.223 |
15.342 |
|
4) Unexpired Letter of Credit |
609.775 |
611.083 |
|
5) Central Excise National Calamity Contingent Duty is
(NCCD) paid under protest till balance sheet date towards captive consumption
of polyester partially oriented Filament Yarn and polyester fully drawn yarn
for manufacture of texturised yarn, crimped Yarn, twisted yarn, M. M. knitted
yarn etc. as per show cause notice received from Commissioner of Central
Excise, Ahmedabad. The same has been shown under the head Loans and Advances
and matter is still pending before the authorities. |
8.850 |
7.994 |
|
6) Appeal with CESTAT against order of Commissioner of
Central Excise, (Appeal) Ahmedabad |
26.941 |
26.941 |
|
7) Appeal with CESTAT against order of DGCEI |
52.500 |
52.500 |
|
8) Demand U/s 143(3) of Income Tax Act for A.Y.2008-09
against which Appeal filled by company and matter is pending before
CIT(Appeal) |
0.975 |
0.975 |
|
9) Demand U/s 143(3) of Income Tax Act for
A.Y.2010-11against which Appeal filled by company and matter is pending
before CIT(Appeal) |
8.469 |
8.469 |
|
10) Demand order U/s 17(1) r.w.f. 16(5) of Wealth
Tax Act for A.Y.2008-09 matter is pending before CIT(Appeal) |
0.994 |
0.000 |
|
Total |
989.065 |
978.642 |
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Office equipment
- Computer equipments
- Other equipments
Intangible assets
- Computer software
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.62.69 |
|
|
1 |
Rs.92.99 |
|
Euro |
1 |
Rs.63.37 |
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 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
50 |
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.