MIRA INFORM REPORT
|
Report No. : |
321133 |
|
Report Date : |
09.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
SUDIVA SPINNERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1-F-33, Old Housing Board, Shastri Nagar, Bhilwara – 311 001,
Rajasthan |
|
Tel. No.: |
91-1483-236888 |
|
|
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|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
15.01.2007 |
|
|
|
|
Com. Reg. No.: |
17-023649 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.101.050
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101RJ2007PTC023649 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAKCS5788C |
|
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The company is engaged in manufacturing of cotton yarn and polyester
cotton yarn. |
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|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 520000 |
|
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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. Rating takes into consideration track record of promoters in spinning
industry, favourable financial risk profile with healthy debt coverage
indicators and cash generation capacity of the company in relation to debt
repayment obligations. 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 |
ICRA |
|
Rating |
Long Term Rating= BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
June, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Bank Rating= A3 |
|
Rating Explanation |
Moderate degree of safety and high credit
risk. |
|
Date |
June, 2014 |
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 DENIED BY
|
Name : |
Mr. Varun Jagdish Chandra
Laddha |
|
Designation : |
Director |
|
Contact No.: |
91-9413306601 |
|
Date : |
04.05.2015 |
LOCATIONS
|
Registered Office / Factory: |
1-F-33, Old Housing Board, Shastri Nagar, Bhilwara – 311001,
Rajasthan, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
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|
|
|
Bhilwara Office : |
B-329, R.K. Colony, Bhilwara – 311001, Rajasthan, India |
|
Tel. No.: |
91-1482-235567 |
|
Fax No.: |
91-1482-235567 |
|
|
|
|
Factory : |
91 Km Stone, N.H.79, Village Dhunwalia, P.O. Sareri, District Bhilwara
– 311024, Rajasthan, India |
|
Tel. No.: |
91-1483-236888 |
|
Fax No.: |
91-1483-236988 |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Varun Jagdish Chandra Laddha |
|
Designation : |
Managing Director |
|
Address : |
Raj Spin Officers Colony, Ladha, Banswara – 327001, Rajasthan, India |
|
Date of Birth/Age : |
08.09.1980 |
|
Date of Appointment : |
15.01.2007 |
|
DIN No.: |
01635880 |
|
PAN No.: |
ABLPL2071Q |
|
|
|
|
Name : |
Mr. Jagdish Chandra Sohan Lal Laddha |
|
Designation : |
Director |
|
Address : |
Kharigram, P.O. Gulabpura, Bhilwara – 311021, Rajasthan India |
|
Date of Birth/Age : |
12.12.1949 |
|
Date of Appointment : |
15.01.2007 |
|
DIN No.: |
00118527 |
|
PAN No.: |
AADPL6272E |
|
|
|
|
Name : |
Mrs. Sunita Laddha |
|
Designation : |
Director |
|
Address : |
Raj Spin Officers Colony, Ladha, Banswara – 327001, Rajasthan, India |
|
Date of Birth/Age : |
01.07.1951 |
|
Date of Appointment : |
30.09.2009 |
|
DIN No.: |
01748014 |
|
PAN No.: |
AAHPL7884J |
|
|
|
|
Name : |
Mr. Rahul Chowdhri |
|
Designation : |
Director |
|
Address : |
Bungalow No.5, J.K. Colony, Kota – 324003, Rajasthan, India |
|
Date of Birth/Age : |
19.06.1974 |
|
Date of Appointment : |
05.03.2007 |
|
DIN No.: |
02013700 |
|
|
|
|
Name : |
Mrs. Tanisha Laddha |
|
Designation : |
Director |
|
Address : |
B-309, Vijay Shree, Shastri Nagar, Bhilwara – 311001, Rajasthan, India |
|
Date of Birth/Age : |
04.01.1983 |
|
Date of Appointment : |
30.09.2009 |
|
DIN No.: |
02683462 |
KEY EXECUTIVES
|
Name : |
Jitendra Vyas |
|
Designation : |
Secretary |
|
Address : |
Keshav Nagar, Phalodi, Jodhpur - 342301, Rajasthan, India |
|
Date of Appointment : |
12.03.2015 |
|
PAN No.: |
ANZPV5389B |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Jagdish Chandra Laddha |
4435750 |
43.90 |
|
Varun Laddha |
972975 |
9.63 |
|
Sunita Laddha |
1119000 |
11.07 |
|
Elcon Finvest Enterprises Private Limited, India |
3404275 |
33.69 |
|
Tanisha Laddha |
173000 |
1.71 |
|
Total |
10105000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Bodies corporate |
33.68 |
|
Directors or relatives of Directors |
66.32 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in manufacturing of cotton yarn and polyester
cotton yarn. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS :NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by management |
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Bankers : |
Punjab National Bank, Mid Corporate Branch, M. I. Road, Jaipur - 302005, Rajasthan, India State Bank of Bikaner And Jaipur, Kharigram Branch, Gulabpura - 311021, Rajasthan, India Union Bank of India, 15/251, Rajendra Marg, Bhilwara - 311001, Rajasthan, India |
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Facilities : |
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Auditors : |
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|
Name : |
A.L. Chechani and Company Chartered Accountants |
|
Address : |
17, Heera Panna
Market, Ground Floor, Pur Road, Bhillwara – 311001, Rajasthan, India |
|
PAN No.: |
AAFFA6296B |
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|
|
|
Enterprises over
which any person described in / is also to exercise significant influence : |
|
CAPITAL STRUCTURE
After 30.09.2014
Authorised Capital :
Rs.150.000 Million
Issued, Subscribed & Paid-up Capital : Rs.137.892 Million
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
Rs.10/- each |
Rs.110.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10105000 |
Equity Shares |
Rs.10/- each
|
Rs.101.050 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 |
101.050 |
101.050 |
99.778 |
|
(b) Reserves & Surplus |
80.799 |
39.487 |
24.602 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.223 |
|
Total
Shareholders’ Funds (1) + (2) |
181.849 |
140.537 |
124.603 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
186.910 |
231.030 |
268.730 |
|
(b) Deferred tax liabilities (Net) |
9.547 |
5.216 |
2.538 |
|
(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) |
196.457 |
236.246 |
271.268 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
121.930 |
189.747 |
137.038 |
|
(b) Trade
payables |
2.958 |
5.140 |
5.240 |
|
(c) Other
current liabilities |
53.993 |
47.947 |
38.558 |
|
(d) Short-term
provisions |
0.032 |
1.157 |
0.257 |
|
Total Current
Liabilities (4) |
178.913 |
243.991 |
181.093 |
|
|
|
|
|
|
TOTAL |
557.219 |
620.774 |
576.964 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
307.921 |
338.668 |
367.938 |
|
(ii)
Intangible Assets |
1.690 |
1.756 |
1.629 |
|
(iii) Capital
work-in-progress |
0.000 |
2.408 |
1.811 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.180 |
|
(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 |
6.738 |
1.828 |
5.746 |
|
(e) Other
Non-current assets |
0.040 |
0.080 |
1.481 |
|
Total Non-Current
Assets |
316.389 |
344.740 |
378.785 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
126.155 |
138.773 |
87.833 |
|
(c) Trade
receivables |
83.317 |
94.675 |
65.350 |
|
(d) Cash
and cash equivalents |
0.455 |
0.525 |
0.947 |
|
(e)
Short-term loans and advances |
3.553 |
8.533 |
16.730 |
|
(f) Other current
assets |
27.350 |
33.528 |
27.319 |
|
Total
Current Assets |
240.830 |
276.034 |
198.179 |
|
|
|
|
|
|
TOTAL |
557.219 |
620.774 |
576.964 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
972.448 |
920.235 |
862.551 |
|
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
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|
|
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||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
147.594 |
131.471 |
89.673 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
46.816 |
67.700 |
50.794 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
100.778 |
63.771 |
38.879 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
43.717 |
43.423 |
37.590 |
||
|
|
|
|
|
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||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
57.061 |
20.348 |
1.289 |
||
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|
Less |
TAX (H) |
15.749 |
6.736 |
0.821 |
||
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||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
41.312 |
13.612 |
0.468 |
||
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
15.436 |
1.824 |
1.356 |
||
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|
BALANCE CARRIED
TO THE B/S |
56.748 |
15.436 |
1.824 |
||
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
293.322 |
478.704 |
159.505 |
|
|
|
TOTAL EARNINGS |
293.322 |
478.704 |
159.505 |
||
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IMPORTS |
|
|
|
||
|
|
|
Machinery |
0.000 |
8.282 |
54.069 |
|
|
|
|
Spare parts |
12.460 |
4.713 |
5.783 |
|
|
|
TOTAL IMPORTS |
12.460 |
56.152 |
59.852 |
||
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|
|
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||
|
|
Earnings /
(Loss) Per Share (Rs.) |
4.09 |
1.35 |
0.05 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
4.25 |
1.48 |
0.05 |
|
|
|
|
|
|
|
Operating Profit Margin |
|
15.18 |
14.29 |
10.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.24 |
3.29 |
0.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.14 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.70 |
2.99 |
3.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35 |
1.13 |
1.09 |
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 |
99.778 |
101.050 |
101.050 |
|
Reserves & Surplus |
24.602 |
39.487 |
80.799 |
|
Share Application money
pending allotment |
0.223 |
0.000 |
0.000 |
|
Net worth |
124.603 |
140.537 |
181.849 |
|
|
|
|
|
|
long-term borrowings |
268.730 |
231.030 |
186.910 |
|
Short term borrowings |
137.038 |
189.747 |
121.930 |
|
Total borrowings |
405.768 |
420.777 |
308.840 |
|
Debt/Equity ratio |
3.256 |
2.994 |
1.698 |
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
|
862.551 |
920.235 |
972.448 |
|
|
|
6.688 |
5.674 |
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 |
862.551 |
920.235 |
972.448 |
|
Profit |
0.468 |
13.612 |
41.312 |
|
|
0.05% |
1.48% |
4.25% |
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 |
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 |
Yes |
UNSECURED LOANS:
|
PARTICULARS |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand from banks |
0.133 |
0.591 |
|
Total |
0.133 |
0.591 |
OPERATIONAL
PERFORMANCE
During the Financial Year company has sold 6649.42 MT (previous year 6764.44 MT) Yarn in export and domestic market, out of this cotton yarn Qty. is 4448.04 MT (previous year 6057.49 MT) and PC yarn Qty. is 2201.38 MT (previous year 706.89 MT) and Viscose Yarn Nil (previous year 0.06 MT). The company has exported 2153.82 MT (previous year 3800.89 MT), Profit before depreciation and tax is 100.778 Million (previous year 63.771 Million).
INDEX OF CHARGE:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10563615 |
27/03/2015 |
850,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL |
C50959857 |
|
2 |
10548846 |
29/01/2015 |
360,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21,, WORLD TRADE CENTR |
C43457845 |
|
3 |
10532320 |
30/10/2014 |
500,000,000.00 |
SYNDICATE BANK |
BHILWARA MID CORPORATE BRANCHBUDH PLAZZA 2ND, BAS |
C34298190 |
|
4 |
10305264 |
22/04/2013 * |
70,000,000.00 |
PUNJAB NATIONAL BANK |
MID CORPORATE BRANCH, M.I.ROAD, JAIPUR, RAJASTHAN |
B75315267 |
|
5 |
10295128 |
17/05/2011 |
84,000,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
KHARIGRAM BRANCH, GULABPURA, RAJASTHAN - 311021, I |
B16172199 |
|
6 |
10266106 |
23/12/2010 |
50,000,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
KHARIGRAM BRANCH, GULABPURA, BHILWARA, RAJASTHAN |
B06023246 |
|
7 |
10240982 |
28/12/2010 * |
53,500,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
KHARIGRAM BRANCH, GULABPURA, BHILWARA, RAJASTHAN |
B05895933 |
|
8 |
10214059 |
22/12/2010 * |
135,000,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
KHARIGRAM BRANCH, GULABPURA, BHILWARA, RAJASTHAN |
B06023634 |
|
9 |
10172211 |
22/07/2009 |
29,500,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
KHARIGRAM BANCH, GULABPURA, RAJASTHAN - 311021, IN |
A67790972 |
|
10 |
10084879 |
20/02/2014 * |
205,000,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
KHARIGRAM BRANCH, GULABPURA, RAJASTHAN - 311021, I |
C00072983 |
*Date of modification Charges
CONTINGENT
LIABILITIES NOT PROVIDED FOR IN RESPECT OF:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Bank guarantees given by Company's Bankers. |
6.871 |
6.871 |
|
Export Obligation |
0.000 |
0.000 |
|
Total |
6.871 |
6.871 |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.64.05 |
|
|
1 |
Rs.99.04 |
|
Euro |
1 |
Rs.71.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
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 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
48 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NB |
NEW BUSINESS |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.