MIRA INFORM REPORT
|
Report No. : |
324127 |
|
Report Date : |
25.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
FORBES MARSHALL
PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
FORBESONS ENGINEERS PRIVATE LIMITED |
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|
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|
Registered
Office : |
A – 34/ 35, M.I.D.C., Pimpri, Pune – 411018, Maharashtra |
|
Tel No.: |
91-20-27442020 / 27477762 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
18.10.1985 |
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Com. Reg. No.: |
11-037806 |
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Capital
Investment / Paid-up Capital : |
Rs.76.762 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28996PN1985PTC037806 |
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|
|
TIN No.: |
Not Available |
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|
IEC No.: |
Not Available |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACF2630E |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Steam Engineering and Control Instrumentation. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of Forbes Marshall Group. It is an established company having fine track record. Financial position of the company seems to be sound. The rating also takes into consideration Forbes Marshall Group’s
established position in the steam engineering and control instrumentation
segment supported by its strong technical capabilities and marketing set-up
and its healthy financial risk profile marked by adequate net worth and
comfortable debt protection metrics.
Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitments. The company can be considered normal 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = A+ |
|
Rating Explanation |
Have adequate degree of safety and carry low credit risk |
|
Date |
03.06.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A1+ |
|
Rating Explanation |
Have adequate degree of safety and carry low credit risk |
|
Date |
03.06.2014 |
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. P. Lokhande |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-20-27442020 |
|
Date : |
23.05.2015 |
LOCATIONS
|
Registered Office / Factory 1 : |
A – 34/ 35, M.I.D.C., Pimpri, Pune – 411018, Maharashtra, India |
|
Tel. No.: |
91-20-27442020 / 27477762 |
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Mobile No.: |
91-9823399133 (Mr. Rajendra Bhide) |
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Fax No.: |
91-20-27442040 |
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E-Mail : |
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Website : |
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Head Office / Factory 2 : |
PB # 29, Mumbai – |
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Tel. No.: |
91-20-27145595/ 39858555 |
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Fax No.: |
91-20-27147413/ 27147593 |
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Email : |
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Factory 3 : |
Plot No. A-19/2 and T-4/2, I.D.A. Nacharam, Hyderabad - 500076,
Telangana, India |
|
Tel. No.: |
91-40-27153918/ 27152276/ 27171909/ 27170732 |
|
Fax No.: |
91-40-27173235/ 27179223 |
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E-Mail : |
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Factory 4 : |
B-85, Phase-II, Chakan Industrial Area, Sawardari, Chakan, Takluka Khed, District Pune - 410501, Maharashtra, India |
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Tel. No.: |
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Overseas Office : |
Located at:
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Branch Office : |
Located at:
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DIRECTORS
As on 26.09.2014
|
Name : |
Mr. Darius M. Forbes |
|
Designation : |
Chairman |
|
Address : |
30, |
|
Date of Birth/Age : |
02.10.1926 |
|
Date of Appointment : |
18.10.1985 |
|
PAN No.: |
AABPF2345L |
|
DIN No.: |
00079467 |
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|
|
Name : |
Mr. Farhad D. Forbes |
|
Designation : |
Director |
|
Address : |
410, Sheridan AVE # 448, Palo Alto – CA94306, United State of
America |
|
Date of Birth/Age : |
08.12.1955 |
|
Date of Appointment : |
18.10.1985 |
|
PAN No.: |
AACPF2419G |
|
DIN No.: |
00628951 |
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|
|
|
Name : |
Mr. Naushad D. Forbes |
|
Designation : |
Director |
|
Address : |
74, Koregaon Park, Pune – 411001, Maharashtra, India |
|
Date of Birth/Age : |
13.05.1960 |
|
Date of Appointment : |
18.10.1985 |
|
PAN No.: |
AAAPF9093N |
|
DIN No.: |
00630825 |
|
|
|
|
Name : |
Mrs. Maharookh D. Forbes |
|
Designation : |
Director |
|
Address : |
No. 30, Koregaon Park, Pune – 411001, Maharashtra, India |
|
Date of Birth/Age : |
06.10.1934 |
|
Date of Appointment : |
18.10.1985 |
|
DIN No.: |
00278436 |
|
|
|
|
Name : |
Ms. Rati Forbes |
|
Designation : |
Director |
|
Address : |
30, Koregaon Park, Pune – 411001, Maharashtra, India |
|
Date of Birth/Age : |
23.03.1957 |
|
Date of Appointment : |
10.03.1989 |
|
PAN No.: |
AAAPF6801A |
|
DIN No.: |
00137326 |
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|
|
|
Name : |
Mr. Mateesh Kant Rai |
|
Designation : |
Director |
|
Address : |
Mathrani House, Flat No. 201 7A, Shankarsheth Road, Gurunanak Nagar,
Pune – 411042, Maharashtra, India |
|
Date of Birth/Age : |
01.05.1963 |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
01215628 |
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|
|
|
Name : |
Viraf Sohrab Pudumjee |
|
Designation : |
Director |
|
Address : |
220/1, Nagar Road, Kalayani Nagar, Yerawada, Pune – 411006,
Maharashtra, India |
|
Date of Birth/Age : |
15.05.1961 |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
06682295 |
|
|
|
|
Name : |
Marcus John Dyne Steel |
|
Designation : |
Director |
|
Address : |
12, Walnut Close, Gloucestershire, Cheltenham, United Kingdom |
|
Date of Birth/Age : |
08.10.1945 |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
01256834 |
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|
|
|
Name : |
Mr. Jehangir Ardeshir |
|
Designation : |
Director |
|
Address : |
Prestige Acropolis 604 Athens 2, 20 Hosur Road, Next to Forum Mall,
Bangalore – 560034, Karnataka, India |
|
Date of Birth/Age : |
22.09.1957 |
|
Date of Appointment : |
09.01.2014 |
|
DIN No.: |
02344835 |
KEY EXECUTIVES
|
Name : |
Mr. Dharmesh N. Thaker |
|
Designation : |
Secretary |
|
Address : |
6E, |
|
Date of Birth/Age : |
29.09.1976 |
|
Date of Appointment : |
02.09.2009 |
|
PAN No.: |
ACDPT8073F |
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|
|
|
Name : |
Mr. P. Lokhande |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS
As on 26.09.2014
SHAREHOLDING DETAILS FILE ATTACHED
As on 26.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Steam Engineering and Control Instrumentation. |
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Products : |
Steam Engineering and Control Instrumentation |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Ford, Rhodes, Parks and Company Chartered Accountants |
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Address : |
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PAN
No. : |
AAAFF1843L |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiaries |
CIN No.: U24111TG1991PTC013030
CIN No.: U29299PN2007PTC129934
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Joint Ventures : |
CIN No.: U29299PN1985PTC03844
CIN No.: U31909PN1984PTC033201
CIN No.: U29299PN2009PTC134958
CIN No.:
U74900PN2012PTC142888
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Associates : |
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CAPITAL STRUCTURE
As on 26.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
550000 |
Equity Shares |
Rs.100/- each |
Rs.55.000 Million |
|
900000 |
Preference Shares |
Rs.100/- each |
Rs.90.000 Million |
|
|
Total |
|
Rs.145.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
206716 |
Equity Shares |
Rs.100/- each |
Rs.20.672 Million |
|
560000 |
Preference Shares |
Rs.100/- each |
Rs.56.000 Million |
|
|
Total |
|
Rs.76.672
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
76.672 |
76.672 |
104.672 |
|
(b) Reserves & Surplus |
2,163.835 |
2,015.641 |
1,705.904 |
|
(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) |
2,240.507 |
2,092.313 |
1,810.576 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1,208.206 |
348.413 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
62.285 |
32.063 |
18.306 |
|
(c) Other long term
liabilities |
7.540 |
7.590 |
7.545 |
|
(d) long-term
provisions |
41.165 |
13.340 |
13.631 |
|
Total Non-current
Liabilities (3) |
1,319.196 |
401.406 |
39.482 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
291.850 |
180.154 |
31.239 |
|
(b) Trade
payables |
604.375 |
611.028 |
434.414 |
|
(c) Other
current liabilities |
406.987 |
390.589 |
320.480 |
|
(d) Short-term provisions |
39.974 |
69.721 |
58.697 |
|
Total Current
Liabilities (4) |
1,343.186 |
1,251.492 |
844.830 |
|
|
|
|
|
|
TOTAL |
4,902.889 |
3,745.211 |
2,694.888 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
2,228.770 |
949.089 |
765.389 |
|
(ii)
Intangible Assets |
236.520 |
234.130 |
173.369 |
|
(iii)
Capital work-in-progress |
37.887 |
533.184 |
62.113 |
|
(iv)
Intangible assets under development |
14.058 |
25.768 |
56.109 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
469.216 |
169.102 |
147.182 |
|
(d) Long-term Loan and Advances |
268.175 |
182.212 |
135.629 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
3,254.626 |
2,093.485 |
1,339.791 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
528.285 |
490.270 |
438.140 |
|
(c) Trade
receivables |
858.954 |
954.606 |
708.604 |
|
(d) Cash
and cash equivalents |
74.362 |
76.544 |
70.456 |
|
(e)
Short-term loans and advances |
186.578 |
130.306 |
130.579 |
|
(f) Other
current assets |
0.084 |
0.000 |
7.318 |
|
Total
Current Assets |
1,648.263 |
1,651.726 |
1,355.097 |
|
|
|
|
|
|
TOTAL |
4,902.889 |
3,745.211 |
2,694.888 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
|
TOTAL |
4,047.300 |
3,878.310 |
3,307.180 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
3,828.920 |
3,437.200 |
2,856.870 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX |
218.380 |
441.110 |
450.310 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
36.940 |
74.870 |
80.090 |
||
|
|
|
|
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|
||
|
Add |
PRIOR
YEAR ADJUSTMENTS |
0.000 |
0.000 |
7.420 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX |
181.440 |
366.240 |
377.640 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1,644.220 |
1,384.480 |
1,132.630 |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Proposed Dividend |
28.410 |
47.020 |
38.930 |
|
|
|
|
Dividend on redemption of preference shares |
0.000 |
1.280 |
0.000 |
|
|
|
|
Tax on dividend on redemption of preference shares |
0.000 |
0.210 |
0.000 |
|
|
|
|
Tax on Dividend |
4.830 |
7.990 |
6.310 |
|
|
|
|
Transfer to General Reserve |
25.000 |
50.000 |
50.000 |
|
|
|
BALANCE CARRIED
TO THE B/S |
1,742.420 |
1,644.220 |
1,384.480 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
236.65 |
477.68 |
492.53 |
||
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.98 |
14.62 |
18.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.21 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.67 |
0.25 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23 |
1.32 |
1.60 |
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 |
104.672 |
76.672 |
76.672 |
|
Reserves & Surplus |
1705.904 |
2015.641 |
2163.835 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1810.576 |
2092.313 |
2240.507 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
348.413 |
1208.206 |
|
Short Term borrowings |
31.239 |
180.154 |
291.850 |
|
Total
borrowings |
31.239 |
528.567 |
1500.056 |
|
Debt/Equity
ratio |
0.017 |
0.253 |
0.670 |
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 |
3,307.180 |
3,878.310 |
4,047.300 |
|
|
|
17.269 |
4.357 |
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
|
3,307.180 |
3,878.310 |
4,047.300 |
|
Profit |
377.630 |
366.240 |
181.440 |
|
|
11.42% |
9.44% |
4.48% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
---------- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter ID Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
---------- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
---------- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
---------- |
|
33 |
Market information |
---------- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
LONG TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
139.724 |
0.000 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
12.350 |
81.124 |
|
Total |
152.074 |
81.124 |
OPERATIONS:
The Company’s revenue from operations continues to grow this year too. Company continues its efforts of augmenting the facilities for growing operations
The performance of several parameters was tracked like On Time Delivery to the customers, on time Delivery from suppliers and other parameters related to Inventory etc.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10451367 |
04/09/2013 |
1,100,000,000.00 |
Bank Of Maharashtra |
Mumbai Pune Road, Pimpri, Pune, Maharashtra - 411018, India |
B85878197 |
|
2 |
10443195 |
06/08/2013 |
160,000,000.00 |
The Hongkong And Shanghai Banking Corporation Limited |
52/60, Mahatma Gandhi Road,, Fort,, Mumbai, Maharashtra - 400001, India |
B82167560 |
|
3 |
10122207 |
06/02/2014 * |
75,000,000.00 |
Corporation Bank |
Industrial Finance Branch,, No.14, Mumbai-Pune Road, Wakdewadi,, Pune, Maharashtra - 411003, India |
C00043026 |
|
4 |
10110347 |
15/10/2011 * |
40,000,000.00 |
The Hongkong And Shanghai Banking Corporation Limited |
Amar Avinash Corporate City, Sector No. 11,, Bund Garden Road,, Pune, Maharashtra - 411001, India |
B23833684 |
|
5 |
80001963 |
10/11/2014 * |
2,370,000,000.00 |
Bank Of Maharashtra |
Mumbai
Pune Road, Pimpri Branch, Pune, Maharashtra |
C50579671 |
|
6 |
90087775 |
28/04/1993 * |
6,300,000.00 |
State Bank Of India |
Industrial Finance Branch, Pune, Maharashtra - 411003, India |
- |
|
7 |
80037071 |
28/10/1992 |
532,000.00 |
Anz Grindlays Bank |
132
Mint Road, Post Box 93, Bombay, Maharashtra - |
- |
|
8 |
80037285 |
27/07/1990 |
3,502,300.00 |
Union Bank Of India |
Kasarwadi Branch, Pune, Maharashtra - 411018, India |
- |
|
9 |
90083166 |
31/01/1975 |
179,000.00 |
The Maharashtra State Finance Co Operative Bank |
Dr.
Annie Basent Road, Worli, Bombay, Maharashtra |
- |
*Date of modification Charges
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.63.57 |
|
|
1 |
Rs.99.67 |
|
Euro |
1 |
Rs.70.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
66 |
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.