MIRA INFORM REPORT
|
Report No. : |
324378 |
|
Report Date : |
30.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
INDOSOLAR LIMITED |
|
|
|
|
Formerly Known
As : |
ROBIN GARMENTS PRIVATE LIMITED ROBIN SOLAR PRIVATE LIMITED |
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|
|
|
Registered
Office : |
C-12, Friends Colony (East), New Delhi – 110065 |
|
Tel. No.: |
91-120-4762500 |
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|
Country : |
India |
|
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|
|
Financials (as
on) : |
31.03.2015 |
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|
|
Date of
Incorporation : |
08.04.2005 |
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|
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|
Com. Reg. No.: |
55-134879 |
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Capital
Investment / Paid-up Capital : |
Rs. 3676.300 Million |
|
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|
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CIN No.: [Company Identification
No.] |
L18101DL2005PLC134879 |
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|
|
IEC No.: |
Not Available |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELP13350B DELR15134A |
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PAN No.: [Permanent Account No.] |
AAECP2108F AADCR2872D |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer of Solar Photovoltaic Cells. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The financial position of the company is week, there seems a sharp dip
in the turnover during 2014, the company is continuously incurring losses
which has resulted in to fully erosion of net worth. However, business is active. Payments terms are reported to be slow. The company can be considered for business dealings on a fully safe
and secured 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
India Rating |
|
Rating |
Long term issuer rating IND : (D) (Suspended) |
|
Rating Explanation |
Lowest credit quality and very low prospects of recovery |
|
Date |
25.09.2014 |
Reason for Suspended: Due to lack of adequate information
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
MANAGEMENT NON CO-OPERATIVE (91-120-4762500)
LOCATIONS
|
Registered Office/ Factory 1 : |
C-12, Friends Colony (East), New Delhi – 110065, India |
|
Tel. No.: |
91-11-26841375/ 26311706 |
|
Fax No.: |
91-11-26843949 |
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E-Mail : |
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Website : |
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Area: |
1000 Sq. mtr (Registered office) 8 Acres (Factory) |
|
Location : |
Owned |
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Corporate Office/ Factory2 : |
3C/1, Ecotech – II, Udyog Vihar, District Gautam Budh Nagar, Greater
Noida 201306, Uttar Pradesh, India |
|
Tel. No.: |
91 120 4762500 |
|
Fax No.: |
91 120 4762533/ 4762525 |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Bhushan Kumar Gupta |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
C-12, Friends Colony (East), |
|
Date of Birth/Age : |
26.01.1936 |
|
Qualification : |
Entrepreneur |
|
Date of Appointment : |
25.09.2009 |
|
DIN No.: |
00168071 |
|
|
|
|
Name : |
Mr. Hulas Rahul Gupta |
|
Designation : |
Managing Director |
|
Address : |
C-12, Friends Colony (East), |
|
Date of Birth/Age : |
24.10.1959 |
|
Qualification : |
B.B.A. |
|
Date of Appointment : |
25.09.2009 |
|
DIN No.: |
00297722 |
|
|
|
|
Name : |
Mr. Gautam Singh Kuthari |
|
Designation : |
Independent Non Executive Director |
|
Address : |
Bargola Building, Fancy Bazar, Guwahati, Assam, 781001 |
|
Date of Birth/Age : |
31.08.1959 |
|
Date of Appointment : |
31.05.2010 |
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Email : |
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DIN No.: |
00945195 |
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|
|
Name : |
Mr. Vidyut Manubhai Vora |
|
Designation : |
Non-Executive Independent Director |
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|
|
|
Name : |
Mr. Vinati Dev |
|
Designation : |
Non-Executive Independent Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2015
|
Category of Shareholder |
Total
No. of Shares |
% of Total No. of Shares |
|
(A) Shareholding of Promoter
and Promoter Group |
||
|
|
|
|
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|
137240497 |
38.32 |
|
|
137240497 |
38.32 |
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|
|
|
|
|
65600473 |
18.32 |
|
|
65600473 |
18.32 |
|
Total shareholding of
Promoter and Promoter Group (A) |
202840970 |
56.64 |
|
(B) Public Shareholding |
||
|
|
|
|
|
|
15609513 |
4.36 |
|
|
15609513 |
4.36 |
|
|
|
|
|
|
21971680 |
6.14 |
|
|
|
|
|
|
45228706 |
12.63 |
|
|
59582304 |
16.64 |
|
|
9254544 |
3.60 |
|
|
17444 |
0.00 |
|
|
2113875 |
0.59 |
|
|
0 |
1.02 |
|
|
557044 |
0.16 |
|
|
6566181 |
1.83 |
|
|
136037234 |
39.00 |
|
Total Public shareholding
(B) |
151646747 |
43.36 |
|
Total (A)+(B) |
354487717 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
354487717 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Solar Photovoltaic Cells. |
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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 Divulged |
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Imports : |
Not Divulged |
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Terms : |
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 : |
Not Divulged |
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Bankers : |
Corporation Bank Industrial Finance Branch, 1ST Floor, 16/10, Telephone: +91 11 2875 7455/
2875 7639 Facsimile: +91 11 28750956 Email: cb447@corpbank.co.in Contact Person: Mr. V. S.
Karthikeyan Website: www.corpbank.com Indian Bank G-41, Connaught Circus, Telephone: +91 11 2371
2162/ 2371 2164 Facsimile: +91 11 2371 8418 Email: ibnewdelhimain@vsnl.net Contact Person: Mr. G.
Rangarajan Website: www.indianbank.in Union Bank of Industrial Finance Branch, M-11, 1ST Floor, Telephone: +91 11 2341
7401 - 07 Facsimile: +91 11 2341
7405 Email: ifbcp@unionbankofindia.com Contact Person: Mr. Pankaj
Sharma Website: www.unionbankofindia.com Bank of Ground Floor, Bank of Baroda Building, 16,Sansad Marg, New Delhi 110
001, India Telephone: +91 11 2331
0349 Facsimile: +91 11 2371
1267 Email: indel@bankofbaroda.com Contact Person: Mr. R.K. Arora Website: www.bankofbaroda.com Andhra Bank M-35, Telephone: +91 11 2341
5616 Facsimile: +91 11 2341
6043 Email: bmdel084@andhrabank.co.in Contact Person: Mr. C. Bala
Subramanyam Website: www.andhrabank.in Bank of Corporate Financial Services Branch, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
B S R and Associates Chartered Accountants |
|
Address : |
Building No.10, 8th Floor, Tower-B, DLF, Cyber City, Phase-II, Gurgaon
- 122002, India |
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Tel. No.: |
91-124-3074000 |
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Facsimile : |
91-124-2549101 |
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E-Mail : |
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Cost Auditors : |
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Name : |
Kabra and Associates Cost Accountants |
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Address : |
552/1B, Arjun Street, Main Vishwas Road, Vishwas Nagar, Delhi-110032, India |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Party holding significant
influence over the enterprise : |
v Greenlite Lighting Corporation |
CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.3676.300
Million
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000000 |
Equity Shares |
Rs.10/- each |
Rs.4000.000 Million |
|
100000000 |
Preference Shares |
Rs.10/- each |
Rs.1000.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 5000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
335144027 |
Equity Shares |
Rs.10/- each |
Rs.3351.400 Million |
|
9500000 |
Preference Shares |
Rs.10/- each |
Rs.95.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 3446.400
Million |
a.
Reconciliation of shares outstanding at the beginning and at the end of
the reporting period:
|
Particulars |
31st March, 2014 |
|
|
Equity Shares |
Number (‘000) |
Rs In Million |
|
At the beginning and at the end of the year |
335,144.03 |
3351.440 |
|
Preference shares |
|
|
|
At the beginning of the year |
9,500.00 |
95.000 |
|
Add : Fresh issue of share |
|
|
|
At the end of the year |
9,500.00 |
95.000 |
- Term and
rights attached to shares:
Equity shares
The Company has only one type of equity share having par value of Rs. 10. All shares rank pari passu with respect to dividend, voting rights and other terms. Each shareholder is entitled to one vote per share except, in respect of any shares on which any calls or other sums payable have not been paid. The Company pays and declares dividends in Indian Rupees. The dividend proposed, if any, by the Board of directors is subject to approval of shareholders in the ensuing Annual General Meeting. The repayment of equity share capital in the event of liquidation and buy back of shares are possible subject to prevalent regulations. In the event of liquidation, normally the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
Preference
shares
During the previous year, the Company has issued zero coupon 9,500,000 non-convertible, non-cumulative redeemable preference shares having par value of Rs. 10 each per share. The preference shares are redeemable after seven years from the date of allotment or after full repayment of existing loans taken by the Company from its bankers, whichever is later. The Company may, as decided by the Board of directors of the Company, pay maximum 100% of face value as premium on redemption.
- Particulars of shareholders holding more than 5%:
|
Particulars |
31st March, 2014 |
|
|
|
Number (‘000) |
% of Share |
|
Equity shares of
Rs. 10 each fully paid |
|
|
|
Bhushan Kumar Gupta (Chairman) |
56,500.00 |
16.86% |
|
Hulas Rahul Gupta (Managing Director) |
80,385.49 |
23.99% |
|
Greenlite Lighting Corporation |
45,114.50 |
13.46% |
|
Preference shares
of Rs. 10 each fully paid |
|
|
|
Golden Equity Private Limited |
9,500.00 |
100.00% |
- Aggregate
number of shares issued for consideration other than cash and shares
bought back during the period of five years immediately preceding 31 March
2014
(i) 185,000 equity shares (in '000) of Rs. 10 each, fully paid and 15,000 equity shares (in '000) of Rs. 0.50 each partly paid were issued to the shareholders of erstwhile Subject in the year ended 31 March 2009 in accordance with the scheme of amalgamation. Such partly paid equity shares were made fully paid prior to the effective date of scheme of amalgamation i.e. 24 September 2009.
(ii)
No shares have been bought back during the five-year period ended 31 March 2014
and 31 March 2013.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
3676.300 |
3446.440 |
3446.440 |
|
(b) Reserves & Surplus |
(4646.457) |
(3860.164) |
(2490.628) |
|
(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) |
(970.157) |
(413.724) |
955.812 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
5977.634 |
7292.759 |
8448.320 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
668.870 |
563.305 |
|
(d) long-term
provisions |
2.557 |
1.658 |
3.051 |
|
Total Non-current
Liabilities (3) |
5980.191 |
7963.287 |
9014.676 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
873.912 |
723.924 |
441.608 |
|
(b) Trade
payables |
113.102 |
141.015 |
432.860 |
|
(c) Other
current liabilities |
5249.553 |
3191.034 |
575.106 |
|
(d) Short-term
provisions |
1.224 |
0.144 |
0.706 |
|
Total Current
Liabilities (4) |
6237.791 |
4056.117 |
1450.280 |
|
|
|
|
|
|
TOTAL |
11247.825 |
11605.680 |
11420.768 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
10441.603 |
4916.037 |
5217.634 |
|
(ii)
Intangible Assets |
0.000 |
0.144 |
0.378 |
|
(iii)
Capital work-in-progress |
0.000 |
5691.100 |
5004.856 |
|
(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 |
94.317 |
112.674 |
150.954 |
|
(e) Other
Non-current assets |
20.541 |
325.209 |
309.197 |
|
Total Non-Current
Assets |
10556.461 |
11045.164 |
10683.019 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
222.370 |
367.241 |
404.517 |
|
(c) Trade
receivables |
15.654 |
33.148 |
178.310 |
|
(d) Cash
and cash equivalents |
245.088 |
22.112 |
29.465 |
|
(e)
Short-term loans and advances |
202.992 |
131.146 |
118.230 |
|
(f) Other
current assets |
5.260 |
6.869 |
7.227 |
|
Total
Current Assets |
691.364 |
560.516 |
737.749 |
|
|
|
|
|
|
TOTAL |
11247.825 |
11605.680 |
11420.768 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2959.728 |
156.685 |
532.334 |
|
|
|
Other Income |
39.216 |
24.258 |
25.690 |
|
|
|
TOTAL |
2998.944 |
180.943 |
558.024 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1854.247 |
10.154 |
569.088 |
|
|
|
Purchases of Stock-in-Trade |
32.601 |
51.867 |
14.637 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
98.611 |
62.109 |
(108.701) |
|
|
|
Employees benefits expense |
103.853 |
31.305 |
89.325 |
|
|
|
Exceptional Item |
0.000 |
0.000 |
(9.382) |
|
|
|
Other expenses |
222.489 |
285.628 |
258.523 |
|
|
|
Power and Fuel |
170.667 |
0.000 |
0.000 |
|
|
|
TOTAL |
2482.468 |
441.063 |
813.490 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
516.476 |
(260.120) |
(255.466) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1028.343 |
807.545 |
592.442 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(511.867) |
(1067.665) |
(847.908) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
269.834 |
301.870 |
390.978 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(781.701) |
(1369.535) |
(1238.886) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(781.701) |
(1369.535) |
(1238.886) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
101.579 |
264.083 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
33.106 |
493.405 |
|
|
|
Capital Goods |
NA |
202.072 |
2810.219 |
|
|
|
Components and spare parts |
NA |
1.828 |
15.909 |
|
|
TOTAL IMPORTS |
NA |
237.006 |
3319.533 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(2.26) |
(4.09) |
(3.70) |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
2018.114 |
228.220 |
|
Cash generated from operations |
NA |
281.424 |
965.524 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(26.41) |
(874.07) |
(232.73) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
17.45 |
(166.01) |
(47.99) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.95) |
(23.16) |
(19.31) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.81 |
3.31 |
(1.30) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(7.06) |
(24.25) |
9.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.11 |
0.14 |
0.51 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
3446.440 |
3446.440 |
3676.300 |
|
Reserves & Surplus |
(2490.628) |
(3860.164) |
(4646.457) |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
955.812 |
(413.724) |
(970.157) |
|
|
|
|
|
|
long-term borrowings |
8448.320 |
7292.759 |
5977.634 |
|
Short term borrowings |
441.608 |
723.924 |
873.912 |
|
Total
borrowings |
8889.928 |
8016.683 |
6851.546 |
|
Debt/Equity
ratio |
9.301 |
(19.377) |
(7.062) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
532.334 |
156.685 |
2959.728 |
|
|
|
(70.566) |
1,788.967 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
532.334 |
156.685 |
2959.728 |
|
Profit |
(1238.886) |
(1369.535) |
(781.701) |
|
|
(232.73%) |
(874.07%) |
(26.41%) |
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 |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
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
|
PARTICULAR |
31.03.2015 (Rs.
In Million) |
31.03.2014 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Loan from related
party |
|
|
|
Loan from shareholders |
NA |
147.849 |
|
Loan from other parties |
NA |
25.000 |
|
|
|
|
|
Total |
NA |
172.849 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10123124 |
05/07/2012
* |
11,099,200,000.00 |
UNION BANK OF
INDIA |
INDUSTRIAL FINANCE
BRANCH, M-11, FIRST FLOOR, MIDDLE CIRCLE, CONNAUGHT CIRCUS, NEW DELHI, Delhi
- 110001, INDIA |
B44051589 |
* Date of charge modification
FIXED ASSETS
œ Leasehold land
œ Building - Factory
œ Building - Non Factory
œ Building (temporary structure)
œ Plant and machinery
œ Furniture and fixtures
œ Office equipment
œ Vehicles
œ Computers
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.63.76 |
|
|
1 |
Rs.97.79 |
|
Euro |
1 |
Rs.69.99 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
-- |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
11 |
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.