MIRA INFORM REPORT
|
Report No. : |
349053 |
|
Report Date : |
10.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
GIMPEX PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
GIMPEX MINERALS PRIVATE LIMITED (w.e.f.01.04.2015) GIMPEX LIMITED |
|
|
|
|
Registered
Office : |
181, Lingichetty Street, Chennai-600001, Tamilnadu |
|
Tel. No.: |
91-44-25302530 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
04.07.1974 |
|
|
|
|
Com. Reg. No.: |
18-006655 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 21.693
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U13200TN1974PTC006655 |
|
|
|
|
IEC No.: |
0488002613 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG2482P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader, Exporter and Importer of Barite, Bentonite, Iron Ore, Mill
Scale, etc. |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
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 : |
Exist |
|
|
|
|
Comments : |
Subject was incorporated in the year 1974 and it is a mineral oriented
company operating in the sphere of Industrial minerals including metallic as
well as non-metallic minerals. Its products include barite, bentonite, coal,
granite and marble, iron ore and mill scale. For the financial year ended 2014, the company has reported dip of
10.01% in its revenue profile but it has maintained profit margins at 2.30%
during the year under a review. Rating reflects the long-standing experience of promoters in the
mineral export business with presence in trading of diverse commodities
across geographies. Though the company’s revenue declined in 2014-15 due to supply
constraints, which limited sourcing of major commodities of the company
(barite and iron ore), the company had mitigated the impact to an extent by
increasing the sales of other commodities and by adding new commodities such
as bauxite to its portfolio. Rating also takes into account of company’s satisfactory financial
profile supported by above average net worth base along with sound debt protection
indicates and favorable gap between trade payables to its receivables. However, rating strength is partially offset by high supplier
concentration in domestic barite sourcing, which exposes the company’s
revenues to fluctuation in production volumes marked by high working capital
intensity and vulnerability of the accruals to volatilities in commodity
prices. Trade relations are reported as fair. Payment terms are reported to be
usually correct. In view of aforesaid, 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.
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 |
ICRA |
|
Rating |
Fund Based Limits=BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
May, 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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Ramani |
|
Designation : |
Finance Head |
|
Contact No.: |
91-44-25302530 |
|
Date : |
10.11.2015 |
LOCATIONS
|
Registered Office/ Warehouse : |
181, Lingichetty Street, Madras-1, Chennai-600001, Tamilnadu, India |
|
Tel. No.: |
91-44-25302530/ 25340061 |
|
Fax No.: |
91-44-25340435 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Offices : |
Flat No. 1502-A1, II Floor, Nutan Complex, PO Wadkhal (Indra Nagar)
Near Reliance Petrol Pump, Pen District, Raigarh-402104, Maharashtra, India |
DIRECTORS
AS ON 25.09.2014
|
Name : |
Mr. Shri Samir Goenka |
|
Designation : |
Managing director |
|
Address : |
No.9, Old No.4 Maharaja Surya Rao Road, Alwarpet, Chennai-600018,
Tamil Nadu, India |
|
Date of Birth/Age : |
06.10.1964 |
|
Qualification : |
Professional |
|
Date of Appointment : |
01.11.1986 |
|
PAN No.: |
AAAAA2222A |
|
DIN No.: |
00574955 |
|
|
|
|
Name : |
Mr. Shivprakash Goenka |
|
Designation : |
Managing director |
|
Address : |
No.9, Old No.4 Maharaja Surya Rao Road, Alwarpet, Chennai-600018,
Tamil Nadu, India |
|
Date of Birth/Age : |
10.08.1940 |
|
Qualification : |
Professional |
|
Date of Appointment : |
04.07.1974 |
|
PAN No.: |
AAAAA1111A |
|
DIN No.: |
00574986 |
|
|
|
|
Name : |
Mr. Binod Choudhury |
|
Designation : |
Whole-time director |
|
Address : |
Flat 3 B, 3 Rd Floor, Starwberry Apartments,, 20, Casa Major Road,,
Chennai- 600008, Tamil Nadu, India |
|
Date of Birth/Age : |
22.07.1955 |
|
Qualification : |
Professional |
|
Date of Appointment : |
01.11.1986 |
|
PAN No.: |
AAAAA4444A |
|
DIN No.: |
00769002 |
|
|
|
|
Name : |
Mr. Ram Swarup Goenka |
|
Designation : |
Whole-time director |
|
Address : |
181 Linghi Chetty Street, Chennai-600001, Tamil Nadu, India |
|
Date of Birth/Age : |
23.12.1954 |
|
Qualification : |
Professional |
|
Date of Appointment : |
04.07.1974 |
|
PAN No.: |
AAAAA5555A |
|
DIN No.: |
01822880 |
KEY EXECUTIVES
|
Name : |
Mr. Ramani |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2014
|
Names of Equity Shareholders |
|
No. of Shares |
|
Shiv Prakash Goenka |
|
252980 |
|
Shiv Prakash Goenka HUF |
|
40500 |
|
Samir Goenka |
|
206500 |
|
Nidhi Goenka |
|
63000 |
|
Binod Choudhary |
|
79500 |
|
Ram Swarup Goenka |
|
103020 |
|
Sushma Devi Goenka |
|
20000 |
|
Sudhansu Goenka |
|
38500 |
|
Karan Goenka |
|
39000 |
|
Gimpex Metal Limited, India |
|
325000 |
|
Alliance Minerals Private Limited, India |
|
1667 |
|
|
|
|
|
Total |
|
1169667 |
|
Names of Preference Shareholder |
|
No. of Shares |
|
Noble Resource Limited, India |
|
999600 |
|
|
|
|
|
Total |
|
999600 |
AS ON 25.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
28.00 |
|
Directors
or relatives of directors |
72.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader, Exporter and Importer of Barite, Bentonite, Iron Ore, Mill
Scale, etc. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
-- |
||||
|
|
|
||||
|
Agencies Held : |
-- |
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Finished Goods |
||||
|
Countries : |
· Saudi Arabia · US · China |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Material |
||||
|
Countries : |
· Indonesia · Vietnam |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
L/C |
||||
|
|
|
||||
|
Purchasing : |
L/C and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
End Users and OEMs
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
200 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
·
HDFC Bank Limited Mariam Centre, First
Floor, 751-B Anna Salai, Chennai - 600002, Tamil Nadu, India |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kumbhat and Company Chartered Accountants |
|
Address : |
144, N.S.C. Bose Road, Chennai - 600 079, Tamilnadu, India
|
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates : |
· Gimpex A P Barytes beneficiation Private Limited · MA Sarala Graphite Private Limited · Radhakrishna Mica Mining Co |
|
|
|
|
Subsidiary Company : |
· Gimpex Properties Private Limited, India (U45202TN2001PTC047457) · Gimpex-S&B India Private Limited, India (U13203GJ2012PTC071156) · SPG Mining Pte Limited, Singapore |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3630000 |
Equity Shares |
Rs. 10/- each |
Rs. 36.300 Million |
|
1500000 |
Preference Shares |
Rs. 10/- each |
Rs. 15.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 51.300
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1169667 |
Equity Shares |
Rs. 10/- each |
Rs. 11.697
Million |
|
999600 |
Preference Shares |
Rs. 10/- each |
Rs. 9.996
Million |
|
|
|
|
|
|
|
Total |
|
Rs. 21.693 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 |
21.693 |
21.693 |
21.693 |
|
(b) Reserves & Surplus |
1658.813 |
1430.179 |
1162.076 |
|
(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) |
1680.506 |
1451.872 |
1183.769 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
29.874 |
26.046 |
58.514 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
407.929 |
343.743 |
317.562 |
|
(d)
long-term provisions |
19.515 |
17.453 |
16.256 |
|
Total
Non-current Liabilities (3) |
457.318 |
387.242 |
392.332 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
2655.069 |
2321.794 |
3096.026 |
|
(b)
Trade payables |
1723.075 |
684.785 |
553.531 |
|
(c)
Other current liabilities |
25.916 |
38.372 |
82.278 |
|
(d)
Short-term provisions |
111.964 |
107.041 |
88.558 |
|
Total
Current Liabilities (4) |
4516.024 |
3151.992 |
3820.393 |
|
|
|
|
|
|
TOTAL |
6653.848 |
4991.106 |
5396.494 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
374.314 |
433.074 |
503.946 |
|
(ii)
Intangible Assets |
0.527 |
0.000 |
0.989 |
|
(iii)
Capital work-in-progress |
0.314 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
396.732 |
283.343 |
288.285 |
|
(c) Deferred tax assets
(net) |
15.001 |
11.040 |
6.453 |
|
(d) Long-term Loan
and Advances |
208.239 |
261.672 |
104.019 |
|
(e)
Other Non-current assets |
173.332 |
14.367 |
15.957 |
|
Total
Non-Current Assets |
1168.459 |
1003.496 |
919.649 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1466.128 |
783.010 |
1282.216 |
|
(c)
Trade receivables |
2088.836 |
1441.128 |
1583.426 |
|
(d)
Cash and cash equivalents |
512.558 |
332.365 |
285.821 |
|
(e)
Short-term loans and advances |
1336.788 |
1391.475 |
1276.307 |
|
(f)
Other current assets |
81.079 |
39.632 |
49.075 |
|
Total
Current Assets |
5485.389 |
3987.610 |
4476.845 |
|
|
|
|
|
|
TOTAL |
6653.848 |
4991.106 |
5396.494 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
10430.952 |
11457.349 |
10264.897 |
|
|
|
Other Income |
13.628 |
150.089 |
112.895 |
|
|
|
TOTAL (A) |
10444.580 |
11607.438 |
10377.792 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
128.215 |
90.046 |
101.628 |
|
|
|
Purchases of Stock-in-Trade |
7554.013 |
8034.244 |
6812.524 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(348.003) |
600.487 |
(428.451) |
|
|
|
Employees benefits expense |
120.323 |
112.677 |
92.571 |
|
|
|
Other expenses |
2095.013 |
1844.975 |
3058.391 |
|
|
|
Extraordinary Items |
0.000 |
0.000 |
-35.741 |
|
|
|
TOTAL (B) |
9549.561 |
10682.429 |
9600.922 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
895.019 |
925.009 |
776.870 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
500.080 |
465.685 |
417.434 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
394.939 |
459.324 |
359.436 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
61.581 |
71.376 |
72.733 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
333.358 |
387.948 |
286.703 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
93.027 |
978.646 |
66.296 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
240.331 |
(590.698) |
220.407 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods - At F.O.B. Value |
|
9508.079 |
8337.902 |
|
|
|
Dividend |
|
106.280 |
93.235 |
|
|
TOTAL EARNINGS |
NA
|
9614.359 |
8431.137 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Fixed Assets/ Advances |
|
0.452 |
0.000 |
|
|
|
Purchases |
|
6244.783 |
4303.442 |
|
|
TOTAL IMPORTS |
NA
|
6245.235 |
4303.442 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
205 |
248 |
188 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
30.453 |
58.552 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash flow from (used in) Operations |
630.580 |
1094.055 |
(765.944) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
2.30 |
(5.16) |
2.15 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
8.58 |
8.07 |
7.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.34 |
8.26 |
5.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.27 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.60 |
1.64 |
2.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21 |
1.27 |
1.17 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
21.693 |
21.693 |
21.693 |
|
Reserves & Surplus |
1162.076 |
1430.179 |
1658.813 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1183.769 |
1451.872 |
1680.506 |
|
|
|
|
|
|
Long-term borrowings |
58.514 |
26.046 |
29.874 |
|
Short term borrowings |
3096.026 |
2321.794 |
2655.069 |
|
Total
borrowings |
3213.092 |
2378.293 |
2684.943 |
|
Debt/Equity ratio |
2.714 |
1.638 |
1.598 |
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 |
10264.897 |
11457.349 |
10430.952 |
|
|
|
11.617 |
(8.958) |
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 |
10264.897 |
11457.349 |
10430.952 |
|
Profit/ (Loss) |
220.407 |
(590.698) |
240.331 |
|
|
2.15% |
(5.16%) |
2.30% |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
MADRAS HIGH COURT
CASE STATUS INFORMATION SYSTEM
|
Case Status : |
Pending |
|
Status Of : |
ORIGINAL SIDE
APPEAL 283 Of 2014 |
|
Litigants : |
M/S.AANCHAL CEMENT
LIMITED Vs. M/S.GIMPEX LIMITED |
|
Pet's Adv : |
M/S. RUGAN AND ARYA |
|
Res's Adv : |
M/S.KARTHIKEYAN |
|
Last Date of Hearing : |
--- |
|
Next / Final Date of Hearing : |
Friday, December 12, 2014 |
|
Case Updated On : |
Thursday, December 11, 2014 |
|
Category : |
--- |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10429754 |
17/05/2013 |
20,000,000.00 |
INDIA FACTORING AND
FINANCE SOLUTIONS PRIVATE LIMI |
6TH FLOOR, VAIBHAV CHAMBERS,
OPPOSITE INCOME TAX,, |
B76592443 |
|
2 |
10246856 |
15/10/2010 |
650,000,000.00 |
STANDARD CHARTERED BANK |
19, RAJAJI SALAI,
CHENNAI, TAMIL NADU - 600001, I |
A97730030 |
|
3 |
10236713 |
19/08/2010 |
1,250,000,000.00 |
IDBI BANK LIMITED |
115, ANNA SALAI,
SAIDAPET, CHENNAI, TAMIL NADU - |
A93666469 |
|
4 |
10230203 |
22/06/2010 |
500,000,000.00 |
PUNJAB NATIONAL BANK |
LCBRANCH , RAYALA
TOWERS, THIRD FLOOR,, 781-785 A |
A90337346 |
|
5 |
10210261 |
23/03/2010 |
150,400,000.00 |
ING VYSYA BANK LIMITED |
185 ANNA SALAI,
NEAR TVS, CHENNAI, TAMIL NADU - 6 |
A82469529 |
|
6 |
10210472 |
12/03/2010 |
135,450,000.00 |
ING VYSYA BANK LIMITED |
185 ANNA SALAI,
NEAR TVS, CHENNAI, TAMIL NADU - 6 |
A82578212 |
|
7 |
10206514 |
10/03/2010 |
100,000,000.00 |
ING VYSYA BANK LIMITED |
185 ANNA SALAI,
NEAR TVS, CHENNAI, TAMIL NADU - 6 |
A81238743 |
|
8 |
10203924 |
11/02/2010 |
50,000,000.00 |
PUNJAB NATIONAL BANK |
781-785 RAYALA
TOWERS, CHENNAI, TAMIL NADU - 60000 |
A79751830 |
|
9 |
10190444 |
04/12/2009 |
345,000,000.00 |
ING VYSYA BANK LIMITED |
185 ANNA SALAI,
NEAR TVS, CHENNAI, TAMIL NADU - 6 |
A75407981 |
|
10 |
10186420 |
05/11/2009 |
50,000,000.00 |
PUNJAB NATIONAL BANK |
781-785 RAYALA TOWERS,
CHENNAI, TAMIL NADU - 60000 |
A73742744 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
13.569 |
14.413 |
|
Other loans and advances, others |
11.517 |
0.017 |
|
|
|
|
|
Total |
25.086 |
14.430 |
PERFORMANCE REPORT
AND STATE OF COMPANY AFFAIRS
The company has achieved a turnover of Rs. 10444.579 Million in the year
2013-14 as compared to turnover of Rs 11607.438 Million. This represents a
slide in the growth over the previous year. The Company is in the previous year
adding new product Bauxite in the export portfolio. The Company will strive
hard to increase the revenue during the next financial year and the Company is
committed to this objective.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
a.
Claims against the company not acknowledged as debts |
|
|
|
i)
Disputed Income Tax Liability |
27.746 |
77.572 |
|
ii)
Disputed Sales Tax Liability |
25.166 |
20.270 |
|
iii)
Disputed Claims not acknowledged as debts |
12.855 |
0.000 |
|
b.
Guarantees |
|
|
|
i)
Guarantees furnished by Bankers |
101.469 |
94.979 |
|
ii)
Outstanding Letters of Credit |
188.818 |
562.203 |
|
c.
Others |
|
|
|
i)
Preference Dividend Payable |
0.007 |
0.006 |
|
Total |
|
|
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
·
Other Equipments
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. 66.34 |
|
|
1 |
Rs. 100.03 |
|
Euro |
1 |
Rs. 71.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA / IND |
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 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
45 |
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.