MIRA INFORM REPORT
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Report No. : |
321044 |
|
Report Date : |
05.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
IDEAL FASTENER (INDIA) PRIVATE LIMITED |
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|
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|
Registered
Office : |
C5, Phase II, 3rd |
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Tel. No.: |
91-44-24486046 / 22622050 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
12.12.2005 |
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Com. Reg. No.: |
18-058282 |
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Capital
Investment / Paid-up Capital : |
Rs.0.400
Million |
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|
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CIN No.: [Company Identification
No.] |
U36992TN2005PTC058282 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEI05412B |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacturing, exporting, importing,
trading and other wise
dealing in all kinds of zip components and other garment accessories. |
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|
No. of Employees
: |
800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 490000 |
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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 a satisfactory track record. Overall financials appears to be decent. Trade relation reported to be fair. Business is active. Payment terms
are reported to be usually correct. The company can be considered for business dealing 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 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Ramesh |
|
Designation : |
Key Executive |
|
Contact No.: |
91-44-22622050 |
|
Date : |
04.05.2015 |
LOCATIONS
|
Registered Office/ Factory/ Sales Office 1 : |
C5, Phase II, 3rd
Main Road, Special Economic Zone, MEPZ, Tambaram, Chennai – 600045,
Tamilnadu, India |
|
Tel. No.: |
91-44-22622050/ 22622051/ 22622052 / 24486046 / |
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Fax No.: |
91-44-42034747/ 28276437 |
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E-Mail : |
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Website : |
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Area : |
4710 sq. mtrs. |
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Location : |
Leased |
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Sales Office 2 : |
#404, 1st Floor, 1st Cross, 1st Block,
R.T. Nagar, Bangalore – 560032, Karnataka, India |
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Tel No.: |
91-80-41726476 |
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E-Mail : |
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Sales Office 3 : |
207-208 |
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Tel. No.: |
91-129-4117601 |
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Fax No.: |
91-129-4117601 |
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E-Mail : |
DIRECTORS
AS ON 08.09.2014
|
Name : |
Mrs. Vijaya Shekar |
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Designation : |
Whole-time Director |
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Address : |
88/89, |
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Date of Birth/Age : |
12.01.1954 |
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Date of Appointment : |
08.09.2014 |
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DIN No.: |
00532674 |
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Other Directorship :
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Name : |
Mr. Baljapalli Suryanarain Sastri |
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Designation : |
Whole-time Director |
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Address : |
209 (Old No.94), |
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Date of Birth/Age : |
25.09.1952 |
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Date of Appointment : |
08.09.2014 |
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DIN No.: |
01169987 |
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Other Directorship :
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Name : |
Mr. Jeffrey Jules Gut |
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Designation : |
Director |
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Address : |
7700, |
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Date of Birth/Age : |
16.06.1979 |
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Date of Appointment : |
12.12.2005 |
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DIN No.: |
01669079 |
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Name : |
Mr. Ralph Leon Gut |
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Designation : |
Director |
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Address : |
7700, |
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Date of Birth/Age : |
27.10.1941 |
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Date of Appointment : |
12.12.2005 |
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DIN No.: |
01720183 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 08.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Baljapalli Suryanarain Sastri (Equity Shares) |
|
480 |
|
Vijaya Mani (Equity Shares) |
|
480 |
|
Baljapalli Suryanarain Sastri (Class B Equity Shares) |
|
500 |
|
Vijaya Mani(Class B Equity Shares) |
|
500 |
|
M.M. Udeshi (Equity Shares) |
|
40 |
|
Gilbert Wan Hoi Hung (Class A
Equity Shares) |
|
1000 |
|
Ideal Fastener Mauritius, Mauritius (Class A Equity Shares) |
|
1000 |
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TOTAL
|
|
4000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 08.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
50.00 |
|
Directors
or relatives of directors |
49.00 |
|
Other
top fifty shareholders |
1.00 |
|
TOTAL |
100.00 |
%20PRIVATE%20LIMITED%20-%20321044%2005-May-2015_files/image011.gif)
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing, exporting, importing,
trading and other wise
dealing in all kinds of zip components and other garment accessories. |
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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 : |
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Countries : |
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Imports : |
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Countries : |
China |
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Terms : |
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Selling : |
Cheque |
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Purchasing : |
Cheque |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
800 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Vepa and Company Chartered Accountants |
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Address : |
“Rudraprasada”, 93, Venkatachala Mudali Street, Mylapore, Chennai –
600004, Tamilnadu, India |
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Tel. No.: |
91-44-24987789/ 24987735 |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFV0371K |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries
: |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
190000 |
Equity Shares |
Rs.100/- each |
Rs.19.000 Million |
|
5000 |
Class A Equity Shares |
Rs.100/- each |
Rs.0.500 Million |
|
5000 |
Class B Equity Shares |
Rs.100/- each |
Rs.0.500 Million |
|
|
Total |
|
Rs.20.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000 |
Equity Shares |
Rs.100/- each |
Rs.0.100
Million |
|
2000 |
Class A Equity Shares |
Rs.100/- each |
Rs.0.200
Million |
|
1000 |
Class B Equity Shares |
Rs.100/- each |
Rs.0.100
Million |
|
|
Total |
|
Rs.0.400 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 |
0.400 |
0.400 |
0.400 |
|
(b) Reserves & Surplus |
170.360 |
67.938 |
25.988 |
|
(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) |
170.760 |
68.338 |
26.388 |
|
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|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
62.413 |
67.800 |
88.812 |
|
(b) Deferred tax liabilities (Net) |
5.034 |
3.904 |
4.156 |
|
(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) |
67.447 |
71.704 |
92.968 |
|
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|
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(4)
Current Liabilities |
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|
|
|
(a)
Short term borrowings |
50.236 |
63.163 |
54.138 |
|
(b)
Trade payables |
83.282 |
130.403 |
90.200 |
|
(c)
Other current liabilities |
3.654 |
2.753 |
2.496 |
|
(d)
Short-term provisions |
25.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
162.172 |
196.319 |
146.834 |
|
|
|
|
|
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TOTAL |
400.379 |
336.361 |
266.190 |
|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
143.933 |
117.648 |
122.997 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
8.113 |
7.285 |
2.360 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
152.046 |
124.933 |
125.357 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
121.815 |
119.517 |
79.785 |
|
(c)
Trade receivables |
91.583 |
86.150 |
57.490 |
|
(d)
Cash and cash equivalents |
17.571 |
4.569 |
1.665 |
|
(e)
Short-term loans and advances |
17.364 |
1.192 |
1.893 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
248.333 |
211.428 |
140.833 |
|
|
|
|
|
|
TOTAL |
400.379 |
336.361 |
266.190 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Income |
1168.536 |
850.717 |
539.112 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
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|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
148.104 |
59.253 |
(14.495) |
|
|
|
|
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|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
19.552 |
17.555 |
18.846 |
|
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|
|
|
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|
|
PROFIT / (LOSS)
BEFORE TAX |
128.552 |
41.698 |
(33.341) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
26.130 |
(0.252) |
(0.405) |
|
|
|
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|
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|
|
PROFIT / (LOSS)
AFTER TAX |
102.422 |
41.950 |
(32.936) |
|
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|
|
|
|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of export |
1114.376 |
803.331 |
512.756 |
|
|
TOTAL EARNINGS |
1114.376 |
803.331 |
512.756 |
|
|
|
|
|
|
|
|
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|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
276.626 |
147.530 |
|
|
|
Capital Goods |
NA |
7.310 |
2.383 |
|
|
|
Loose Tool |
NA |
1.054 |
2.965 |
|
|
TOTAL IMPORTS |
NA |
284.990 |
152.878 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
25605.60 |
10487.46 |
(8234.00) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
32.11 |
12.40 |
(12.53) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.75 |
0.61 |
(1.26) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.66 |
1.92 |
5.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.53 |
1.08 |
0.96 |
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 |
0.400 |
0.400 |
0.400 |
|
Reserves & Surplus |
25.988 |
67.938 |
170.360 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
26.388 |
68.338 |
170.760 |
|
|
|
|
|
|
long-term borrowings |
88.812 |
67.800 |
62.413 |
|
Short term borrowings |
54.138 |
63.163 |
50.236 |
|
Total borrowings |
142.950 |
130.963 |
112.649 |
|
Debt/Equity ratio |
5.417 |
1.916 |
0.660 |
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 |
539.112 |
850.717 |
1168.536 |
|
|
|
57.800 |
37.359 |
%20PRIVATE%20LIMITED%20-%20321044%2005-May-2015_files/image013.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 |
539.112 |
850.717 |
1168.536 |
|
Profit/Loss |
(32.936) |
41.950 |
102.422 |
|
|
(6.11%) |
4.93% |
8.76% |
%20PRIVATE%20LIMITED%20-%20321044%2005-May-2015_files/image015.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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
No |
UNSECURED LOAN:
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances
from related parties |
40.600 |
40.600 |
|
Other Loans and advance |
11.000 |
27.200 |
|
Total |
51.600 |
67.800 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90325555 |
02/12/2014 * |
123,700,000.00 |
BANK OF CEYLON |
NO.20/21, CASA MAJOR ROAD,, N.NO.2 (O.NO.11), ZER |
C36139996 |
* Date of charge modification
OPERATIONS
The Company is engaged in manufacturing, exporting, importing, trading and other wise dealing in all kinds of zip components and other garment accessories. The Company has been taking several initiatives and planning measures to decide on a suitable structure and develop systems and mechanisms in place in order to effectively carry on its operations.
NOTE:
The registered office of the company has been shifted from
88/89,
FIXED ASSETS
- Air
conditioner
- Computer
- Electrical
Installation
- Factory Shed
- Furniture and
Fitting
- Motor Car
- Office
Equipments
- Office
Building
- Plant and
Machinery
- Two Wheelers
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.63.58 |
|
|
1 |
Rs.97.99 |
|
Euro |
1 |
Rs.70.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
6 |
|
--PROFITABILIRY |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.