MIRA INFORM REPORT

 

 

Report No. :

321086

Report Date :

05.05.2015

 

IDENTIFICATION DETAILS

 

Name :

OSWAL EXTRUSION LIMITED

 

 

Registered Office :

H.B. Jirawala House, 13, Navbharat Society, Opposite Panchsheel Bus Stop, Usmanpura, Ahmedabad – 380013, Gujarat

Tel. No.:

91-79-27550764 / 27561000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

31.12.2004

 

 

Com. Reg. No.:

04-045239

 

 

Capital Investment / Paid-up Capital :

Rs.88.014 Million

 

 

CIN No.:

[Company Identification No.]

U25200GJ2004PLC045239

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

AHMO00467F

 

 

PAN No.:

[Permanent Account No.]

AAACO7290H

 

 

Legal Form :

A Closely Held Public Limited Liability Company.

 

 

Line of Business :

Manufacturer and Exporter of Woven Products and Plastic Packaging Products.

 

 

No. of Employees :

800 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (43)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a subsidiary of PLASTENE INDIA LIMITED. It is an established company having satisfactory track.

 

Profitability of the company is low.

 

However, the rating takes into consideration long and established operational track record of company in the Flexible Intermediate Bulk Containers (FIBC) segment supported by sound liquidity profile and financial as well as managerial support that company receives from parent company.

 

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

 

In view of strong holding support, the company can be considered for business dealings at usual trade terms and condition.

 

NOTES :

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

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CARE

Rating

Long Term Bank Facilities=BBB-

Rating Explanation

Moderate degree of safety and moderate credit risk.

Date

08.04.2015

 

 

Rating Agency Name

CARE

Rating

Short Term Bank Facilities=A3

Rating Explanation

Moderate degree of safety and high credit risk.

Date

08.04.2015

 

 

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.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Siddharth Parekh

Designation :

Directors

Contact No.:

91-9825912345

Date :

04.05.2015

 

 

LOCATIONS

 

Registered Office :

 

H.B. Jirawala House, 13, Navbharat Society, Opposite Panchsheel Bus Stop, Usmanpura, Ahmedabad – 380 013, Gujarat, India

Tel. No.:

91-79-27550764 / 27561000

Mobile No.:

91-9825912345 (Mr. Siddharth Shantilal Parekh)

Fax No.:

91-79-27551764

E-Mail :

info@champalalgroup.com

cs@champalalgroup.com

chetan@champalalgroup.com

Website :

http://www.champalalgroup.com

Area:

10000 sq. ft.

Location :

Owned / Commercial / Residential

 

 

Factory  1:

Plot No. 73/74/75, A and 82-A, Sector 2, Kandal Special Economic Mic Zone, Sector 2, Gandhidham, Kutch – 370 230, Gujarat, India

Tel. No.:

91-2836-236872 / 253289

Fax No.:

91-2836-236872 / 253433

Area:

10000 sq. ft.

Location :

Rented

   

 

Factory 2 :

Plot No: 828, Ambica Industrial Estate, Near Kothari Weigh Bridge, Village Santej – 382 721, Taluka Kalol, District Gandhinagar, Gujarat, India

 

 

Factory 3 :

Plot No. 453 [Old Plot] 141-144, Sector 1, Kasez, Gandhidham, Kutch, Gujarat, India

 

 

Factory 4 :

Plot No.17,18, Sector-10 C, GIDC, Gandhidham, Kutch – 370 201, Gujarat, India

 

 

Factory  5 :

Plot No.22, Sector-11, GIDC, Gandhidham, Kutch – 370 201, Gujarat, India

 

 

Factory 6 :

Survey No.44, Village : Varsana, Tal : Anjar- Kutch – 370 240, Gujarat, India

 

 

DIRECTORS

 

AS ON 28.08.2014

 

Name :

Mr. Ranjan Karunakar Samantaray

Designation :

Director

Address :

Plot No. 119, Ward No. 10/B/C, Vidyanagar, Opposite, IFFCO Udaynagar Colony, Gandhidham – 370 201, Gujarat, India

Date of Birth/Age :

20.06.1970

Date of Appointment :

27.01.2005

DIN No.:

01684974

 

 

Name :

Mr. Siddharth Shantilal Parekh

Designation :

Whole-time Director

Address :

B-183, Sector - 4, Gandhidham - 370 201, Gujarat, India

Date of Birth/Age :

07.06.1984

Date of Appointment :

01.04.2010

DIN No.:

01688066

 

 

Name :

Mr. Anil Shyamsunder Goyal

Designation :

Director

Address :

Block-D, 502, Balaji recidency, 5th floor, Naer Miday Resturent. Opposite Devpujan, Motera, Ahmedabad-380005, Gujarat, India

Date of Birth/Age :

01.10.1976

Date of Appointment :

29.03.2014

DIN No.:

03071035

 

Name :

Gaurav Parvesh Chander Suri

Designation :

Additional director

Address :

A/3, Navroj Appts,, Dafnala, Shahibaugh, Ahmedabad - 380004, Gujarat, India

Date of Appointment :

13.03.2015

DIN No.:

02287548

 

 

Name :

Meenakshi Dhelriya

Designation :

Additional director

Address :

444, Nakoda Nagar, Ta: Gandhidham, Adipur, District Kutch - 370205, Gujarat, India

Date of Appointment :

06.04.2015

DIN No.:

07140918

 

 

KEY EXECUTIVES

 

Name :

Chetan Rajendrabhai Parmar

Designation :

Secretary

Address :

Taz Adipur, Kutch, Kutch - 370205, Gujarat, India

Date of Appointment :

10.06.2014

PAN No.:

CNGPP2131L

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 28.08.2014

 

Names of Shareholders

 

No. of Shares

Class “A” Differential Voting Rights Shares

 

Plastene India Limited, India Jointly with Nitu D Parekh    

10000

--

--

Plastene India Limited, India Jointly with Madhu D Parekh    

58174

--

--

Plastene India Limited, India Jointly with Prakash Parekh   

160000

--

--

Plastene India Limited, India Jointly with Chetan Parekh    

50000

--

--

Plastene India Limited, India Jointly with Manisha C Parekh    

80000

--

--

Plastene India Limited, India Jointly with Deepak Parekh

10000

--

--

Plastene India Limited, India Jointly with Siddharth Parekh

10000

--

--

Plastene India Limited, India

1380000

--

--

Chetan Parekh

--

336

--

 

--

336

--

 

--

336

--

 

--

336

--

 

--

336

--

 

--

336

--

 

--

336

--

 

--

336

--

 

--

336

--

-

--

176

--

Prakash Hiralal Parekh

--

--

7040000

Sub Total

1758174

3200

7040000

TOTAL

8801374

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 28.08.2014

 

Category

Percentage

Bodies corporate

19.98

Directors or relatives of Directors

80.02

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Woven Products and Plastic Packaging Products.

 

 

Products :

PRODUCT DESCRIPTION

 

ITC CODE

Jumbo Bags and PP Woven Bags

39232990 / 63053200

HDPE Tarpaulin

39269080

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

 

Products :

Finished Goods

Countries :

·         USA

·         UK

·         Brazil

·         Germany

·         Turkey

·         France

·         Italy

·         Belgium

·         Australia

 

 

Imports :

 

Products :

Raw Materials

Countries :

·         Germany

·         China

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

PRODUCTION STATUS (AS ON 31.03.2012)

 

Particulars

Unit

Licensed Capacity

Installed Capacity

Actual Production

PP Woven Bags / Jumbo Bags

M.T.

No License Is Required For Plastic Woven And Jumbo Bags 

9000

5290

Sulzer Fabrics

M.T.

3600

1093

HDPE Tarpaulin/ Others

M.T.

--

147

TOTAL

 

12600

6530

 

 

GENERAL INFORMATION

 

Suppliers :

Not Divulged

 

 

Customers :

Not Divulged

 

 

No. of Employees :

800 (Approximately)

 

 

Bankers :

·         ICICI Bank

·         HDFC Bank

·         Standard Chartered Bank

 

Banker Name

Dena Bank

Branch Address

Industrial Finance Branch, 2nd Floor, Dena Laxmi Building, 188-A, Ashram Road, Ahmedabad - 80009, Gujarat, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

Banker Name

The Royal Bank of Scotland N.V.

Branch Address

Viva Complex, Opposite Parimal Garden, Parimal Cross Roads, Ahmedabad – 380 007, Gujarat, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

Banker Name

State Bank of India

Branch Address

Law Garden Branch, Law Garden, Ahmedabad-380006, Gujarat, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

Banker Name

State Bank of Indore

Branch Address

Plot No. 273, Ward 12/B, Gandhidham Branch, Gandhidham – 370 201, Gujarat, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

Banker Name

State Bank of Saurashtra

Branch Address

MID Corporation Branch, Sodiac Avenue, Opposite Commissioner’s Bunglow, Law Garden, Ahmedabad – 380 006, Gujarat, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

SECURED LOAN

 

Particulars

31.03.2014

 Rs. In Million

31.03.2013

Rs. In Million

Long Term Borrowings

 

 

Rupee Term Loans from Banks

265.996

287.661

Loan taken for fixed assets (vehicles)

1.051

1.344

 

 

 

Short Term Borrowings

 

 

Rupee Term Loans from Banks

87.862

62.692

Working Capital loans from Banks

582.736

492.188

Loans repayable on demand from banks

29.264

55.168

Loan taken for vehicles

0.761

1.011

Total

967.670

900.064

 

 

 

Financial Institution :

·         Siemens Financial Services Private Limited, 130, Pandurang Budhkar Marg, Worli, Mumbai-400018, Maharashtra, India

·         Tata Capital Financial Services Limited, One Forbes, Dr. V.B. Gandhi Marg, Fort, Mumbai-400001, Maharashtra, India

 

 

Auditors :

 

Name :

Jain P.C. and Associates

Chartered Accountants

Address :

501, Diwan Chambers, Opposite Loha Bhavan, Old High Court Lane, Off Ashram Road, Ahmedabad – 380 009, Gujarat, India

Tel. No.:

91-79-40070445 / 27542102

Mobile No.:

91-9377396573

Fax No.:

91-79-27542102

E-Mail :

pcjain@jainpc.com

 

 

Name :

Vinay Kumbhat and Associates

Chartered Accountants

Address :

B 91 Yash Tower, Near Hasubhai Park Society, Off Anandnagar Road Satellite, Ahmedabad - 380015, Gujarat, India

PAN No.:

ANHPK6541Q

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company :

Plastene India Limited (Extent of holding 99.82%)

 

 

Subsidiary

Oswal Extrusion

LDA

 

 

Related Parties :

Substantially Interested Parties :

 

YMP Machineries Private Limited

 

Associate Parties which significantly influence / are influenced by the Company (either individual or with others) with whom the Company had transactions during the year :

 

·         Parekh Industries

·         Oswal Timber Industry

·         Oswal Lumbers Private Limited [U35115GJ1988PTC010741]

·         Plasto Processors

·         Plastene Polyfilms Limited [U25200GJ2009PLC058586]

·         Plastene Infrastructure Limited [U45201GJ2008PLC053258]

·         Siddharth Logistics

·         Parekh Polymers

 

 

Associates :
  • K. P. Woven Private Limited [U25200MP2010PTC023141]
  • Plastene Flexibles Limited [U25190GJ2011PLC063719]
  • Plastene India Limited [U25209GJ1998PLC034861]
  • Plastene Polyfilms Limited [U25200GJ2009PLC058586]

 

 

CAPITAL STRUCTURE

 

As on 28.08.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2050000

Equity Shares

Rs.10/- each

Rs. 20.500 Million

7040000

Preference Shares

Rs.10/- each

Rs. 70.400 Million

 

TOTAL

 

Rs. 90.900 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1761374

Equity Shares

Rs.10/- each

Rs. 17.614 Million

7040000

Preference Shares

Rs.10/- each

Rs. 70.400 Million

 

TOTAL

 

Rs. 88.014 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

88.014

17.614

12.782

(b) Reserves & Surplus

461.217

454.893

333.840

(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)

549.231

472.507

346.622

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

425.647

289.004

230.630

(b) Deferred tax liabilities (Net)

25.755

22.151

19.999

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

2.529

2.127

1.506

Total Non-current Liabilities (3)

453.931

313.282

252.135

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

700.623

611.060

480.629

(b) Trade payables

537.309

359.478

376.428

(c) Other current liabilities

57.632

53.676

38.756

(d) Short-term provisions

2.050

0.162

3.938

Total Current Liabilities (4)

1297.614

1024.376

899.751

 

 

 

 

TOTAL

2300.776

1810.165

1498.508

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

636.390

689.173

375.487

(ii) Intangible Assets

50.447

49.607

0.000

(iii) Capital work-in-progress

77.757

16.151

97.099

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

43.762

2.337

0.945

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

8.487

20.033

84.299

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

816.843

777.301

557.830

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

275.584

246.025

210.735

(c) Trade receivables

735.837

468.141

511.447

(d) Cash and cash equivalents

75.026

68.509

37.530

(e) Short-term loans and advances

394.517

246.131

171.026

(f) Other current assets

2.969

4.058

9.940

Total Current Assets

1483.933

1032.864

940.678

 

 

 

 

TOTAL

2300.776

1810.165

1498.508

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

2940.069

2110.693

2216.527

 

 

Other Income

50.101

25.566

15.867

 

 

TOTAL                                         (A)

2990.170

2136.259

2232.394

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

1364.887

628.249

609.191

 

 

Purchase of Stock-in-trade

974.821

1062.085

1188.794

 

 

Changes in Inventories of finished goods, work-in-progress and stock-in-trade

11.708

(75.559)

48.680

 

 

Employee Benefits Expenses

86.384

73.728

52.583

 

 

Other Expenses

231.036

185.864

177.626

 

 

Prior Period Items

0.000

(0.011)

0.618

 

 

TOTAL                                         (B)

2668.836

1874.356

2077.492

 

 

 

 

 

Less

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

321.334

261.903

154.902

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

202.508

151.808

106.168

 

 

 

 

 

 

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

118.826

110.095

48.734

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION                     (F)

108.899

102.858

22.538

 

 

 

 

 

 

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

9.927

7.237

26.196

 

 

 

 

 

Less

TAX                                                                  (H)

3.603

2.152

6.493

 

 

 

 

 

 

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

6.324

5.085

19.703

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

FOB value of traded goods exported

1629.818

1685.544

1417.247

 

TOTAL EARNINGS

1629.818

1685.544

1717.247

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

243.392

344.628

226.875

 

 

Components and Spare Parts

2.013

1.910

1.157

 

TOTAL IMPORTS

245.405

346.538

228.032

 

 

 

 

 

 

Earnings Per Share (Rs.)

3.59

2.88

15.90

 

 

Expected Sales ( 2014-2015 ) : Rs.3500.000 Million

 

The above information has been parted by Mr. Siddharth Shantilal Parekh.

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

0.22

0.24

0.89

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

10.93

12.41

6.99

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.46

0.40

1.87

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.02

0.02

0.08

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.05

1.90

2.05

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.14

1.01

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

12.782

17.614

88.014

Reserves & Surplus

333.840

454.893

461.217

Share Application money pending allotment

0.000

0.000

0.000

Net worth

346.622

472.507

549.231

 

 

 

 

long-term borrowings

230.630

289.004

425.647

Short term borrowings

480.629

611.060

700.623

Total borrowings

711.259

900.064

1126.270

Debt/Equity ratio

2.052

1.905

2.051

 

 

 

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

2216.527

2110.693

2940.069

 

 

(4.775)

39.294

 

 

 

 

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

2216.527

2110.693

2940.069

Profit

19.703

5.085

6.324

 

0.89%

0.24%

0.22%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

CURRENT MATURITIES OF LONG-TERM DEBT DETAILS: NOT AVAILABLE

 

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

Yes

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

Yes

8]

No. of employees

Yes

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

Yes

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

Yes

 

 

UNSECURED LOANS:

 

Particulars

31.03.2014

Rs. In Million

31.03.2013

Rs. In Million

Long Term Borrowings

 

 

Deposits

158.600

0.000

Total

158.600

0.000

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10482771

14/02/2014

13,000,000.00

SIEMENS FINANCIAL SERVICES PRIVATE LIMITED

130, PANDURANG BUDHKAR MARG,, WORLI, MUMBAI, MAHA 
RASHTRA - 400018, INDIA

B98525330

2

10462892

15/11/2013

300,000,000.00

DENA BANK

INDUSTRIAL FINANCE BRANCH, 2ND FLOOR,, DENA LAXMI 
BUILDING, 188-A, ASHRAM ROAD, AHMEDABAD, GUJARAT 
- 380009, INDIA

B90624883

3

10417489

12/03/2013

50,000,000.00

STATE BANK OF INDIA

LAW GARDEN BRANCH, LAW GARDEN, AHMEDABAD, GUJARAT 
- 380006, INDIA

B72502594

4

10392626

12/11/2012

5,091,900.00

SIEMENS FINANCIAL SERVICES PRIVATE LIMITED

130, PANDURANG BUDHKAR MARG,, WORLI, MUMBAI, MAHA 
RASHTRA - 400018, INDIA

B64390677

5

10377025

30/08/2012

4,199,000.00

SIEMENS FINANCIAL SERVICES PRIVATE LIMITED

130, PANDURANG BUDHKAR MARG,, WORLI, MUMBAI, MAHA 
RASHTRA - 400018, INDIA

B58320037

6

10372463

15/07/2013 *

75,000,000.00

TATA CAPITAL FINANCIAL SERVICES LIMITED

ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI, 
MAHARASHTRA - 400001, INDIA

B82265133

7

10369083

18/07/2012

8,395,700.00

SIEMENS FINANCIAL SERVICES PRIVATE LIMITED

130, PANDURANG BUDHKAR MARG,, WORLI, MUMBAI, MAHA 
RASHTRA - 400018, INDIA

B45105319

8

10366670

30/06/2012

42,768,000.00

SIEMENS FINANCIAL SERVICES PRIVATE LIMITED

130, PANDURANG BUDHKAR MARG,, WORLI, MUMBAI, MAHA 
RASHTRA - 400018, INDIA

B44235299

9

10050161

18/01/2012 *

1,115,000,000.00

STATE BANK OF INDIA

LAW GARDEN BRANCH,, NR. LAW GARDEN, ELLISBRIDGE, 
AHMEDABAD, GUJARAT - 380006, INDIA

B31531221

 

 

* Date of charge modification

 

 

FIXED ASSETS:

 

·         Building and Shed

·         Plant and Machinery

·         Electrical Installation

·         Furniture and Fittings

·         Office Equipments

·         Vehicles

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 63.58

UK Pound

1

Rs. 97.99

Euro

1

Rs. 70.53

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

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

5

--PROFITABILIRY

1~10

3

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

4

--CREDIT LINES

1~10

5

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

43

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

 

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

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