MIRA INFORM REPORT
|
Report No. : |
343247 |
|
Report Date : |
01.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
RAJPUTANA STAINLESS LIMITED (w.e.f. 18.06.2007) |
|
|
|
|
Formerly Known
As : |
RAJPUTANA STEEL CASTINGS LIMITED (w.e.f. 01.06.2007) RAJPUTANA STEEL CASTINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
213, Madhwas, Halol Kalol Road, Kalol, District Panchmahals-389330,
Gujarat |
|
Tel. No.: |
91-22-66595163 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
02.04.1991 |
|
|
|
|
Com. Reg. No.: |
04-015331 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 344.588 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109GJ1991PLC015331 |
|
|
|
|
IEC No.: |
3499001594 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDR00908F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR9333G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Stainless Steel Products. |
|
|
|
|
No. of Employees
: |
500 (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 |
|
Maximum Credit Limit : |
USD 1523800 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was set up in 1991 as Rajputana Castings Private Limited by
Mr. Om Prakash Agarwal. In 1999, the company was acquired by Mr. Shankar Lal
Deep Chand Mehta and Mr. Babu Lal Deep Chand Mehta and was renamed in 2006. The
company manufactures stainless steel bars, rods and billets. It has
satisfactory track record. Reserves level of the company is low. However, management has reported
a significant improvement in its base along with fair liquidity during
FY2014. Trade relations are reported as fair. Business is active. Payments
terms are reported to be slow but correct. In view of established track record in the stainless steel structural
segment and its improved manufacturing facilities, 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 – 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 |
CRISIL |
|
Rating |
Long Term Rating=BB+ |
|
Rating Explanation |
Have inadequate credit quality and carry
high credit risk |
|
Date |
29.11.2014 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating=A4+ |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk |
|
Date |
29.11.2014 |
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Amrendra Thakur |
|
Designation : |
General Finance Manager |
|
Contact No.: |
91-9374468006 |
|
Date : |
30.09.2015 |
LOCATIONS
|
Registered Office/ Factory : |
213, Madhwas, Halol Kalol Road, Kalol, District Panchmahals-389330,
Gujarat, India |
|
Tel. No.: |
91-22-66595163 |
|
Mobile No.: |
91-9322265997/ 9820231637 (Mr. Jayesh Natvarlal Pithva) 91-9374468006 (Mr. Amrendra Thakur) |
|
Fax No.: |
91-22-66595615 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Industrial |
|
|
|
|
Branch Office : |
202, Martand Complex, Near Apsara Cinema, Pratap Nagar
Road, Vadodara-390004, Gujarat, India |
|
Tel. No.: |
91-265 3014817 |
|
Fax No.: |
91-265-2422321 |
|
|
|
|
Marketing Offices: |
17 / 19, Kanti Bhuvan, 1st Parsiwada lane, Near V.P. Road,
Mumbai – 400004, Maharashtra, India |
|
Tel. No.: |
91-22-66595615/ 66595163 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Jayesh Natvarlal Pithva |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
103, Parshva Kunj, Malavia Road, Vileparle (East), Mumbai- 400057,
Maharashtra, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
09.11.1967 |
||||||||||||||||||||||||
|
Date of Appointment : |
07.05.2007 |
||||||||||||||||||||||||
|
PAN No.: |
AADPP6145Q |
||||||||||||||||||||||||
|
DIN No.: |
01531196 |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Shankerlal Deepchand Mehta |
||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||
|
Address : |
802, Krishna Tower, Opposite-BOB, R.V. Desai Road, Vadodara-390001,
Gujarat, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
03.07.1971 |
||||||||||||||||||||||||
|
Date of Appointment : |
23.11.2013 |
||||||||||||||||||||||||
|
PAN No.: |
AEWPM3898J |
||||||||||||||||||||||||
|
DIN No.: |
02656381 |
||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Mr. Babulal Deepchandji Mehta |
||||||||||||||||||||||||
|
Designation : |
Whole-time director |
||||||||||||||||||||||||
|
Address : |
17/19 Kantibhavan 1st Parsiwada Lane, Near VP Road, Mumbai-400004,
Maharashtra, India |
||||||||||||||||||||||||
|
Date of Birth/Age : |
08.12.1958 |
||||||||||||||||||||||||
|
Date of Appointment : |
23.11.2013 |
||||||||||||||||||||||||
|
PAN No.: |
AEEPM0912M |
||||||||||||||||||||||||
|
DIN No.: |
02656396 |
||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Amrendra Thakur |
|
Designation : |
General Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Shankarlal D. Mehta |
|
17364426 |
|
Babulal D. Mehta |
|
1696545 |
|
Jayesh N. Pithwa |
|
737667 |
|
Babulala D. Mehta HUF |
|
425600 |
|
Bhaguben B. Mehta |
|
1004068 |
|
Girish B. Mehta |
|
128565 |
|
Hetal J. Pithwa |
|
584000 |
|
Kalpesh B Mehta |
|
251847 |
|
Motilal D. Mehta |
|
797195 |
|
Motilal D. Mehta HUF |
|
343113 |
|
Natwarlal Pithwa |
|
610790 |
|
Nirmalaben N. Pithwa |
|
551000 |
|
Pinky Jain |
|
78357 |
|
Ramesh D. Mehta |
|
716124 |
|
Ramsh D. Mehta (HUF) |
|
301330 |
|
Vikram M. Mehta |
|
362242 |
|
Jayanti M. Sanghvi |
|
196667 |
|
Kamla M. Mehta |
|
347942 |
|
Mahendra M. Mehta |
|
181292 |
|
Rohiniben R. Mehta |
|
229584 |
|
Rajputana Advisory Services Private Limited, India |
|
3047000 |
|
Lohagar Developer Private Limited, India |
|
4246750 |
|
Babulal N. Bisnori |
|
169418 |
|
Tejaram K. Bisnori |
|
25924 |
|
Manilal V. Sanghvi |
|
17500 |
|
Meena Vikram Mehta |
|
13333 |
|
Teena Jian |
|
13333 |
|
Hitesh Bhansali |
|
17217 |
|
Total |
|
34458829 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
21.16 |
|
Directors
or relatives of directors |
78.09 |
|
Others |
0.75 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Stainless Steel Products. |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Products : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Brand Names : |
-- |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Agencies Held : |
-- |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Exports : |
|
||||||||||||||||||
|
Products : |
-- |
||||||||||||||||||
|
Countries : |
-- |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Imports : |
|
||||||||||||||||||
|
Products : |
Raw Material |
||||||||||||||||||
|
Countries : |
Korea |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Terms : |
|
||||||||||||||||||
|
Selling : |
Cash and Credit (30 days, 60 days and 90 days) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Purchasing : |
Cash and Credit (30 days, 60 days and 90 days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
End Users and OEMs
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
500 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
Allahabad Bank Rajmahal Road, Vadodara -
390001, Gujarat, India ·
Punjab National Bank Surat Main Branch, 1st
Floor, Meghani Tower, Station Road, Surat - 395003, Gujarat, India ·
Dena Bank Alkapuri
Branch, Vadodara, Gujarat, India ·
Kotak Mahindra Bank Limited · IDBI Bank Limited |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institutions : |
·
Sundaram Finance Limited No
21 Patullos Road, Chennai - 600002, Tamil Nadu, India · Tata Capital Financial Services Limited One Forbes,, Dr.
V. B. Gandhi Marg, Fort, Mumbai- 400001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Surendra
Modiani and Associates Chartered Accountants |
|
Address : |
101,
Opel Square, Benhind Express Hotel, Alkapuri, Vadodara, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACHFS1271J |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : |
·
Rajputana Advisory Private Limited, India ·
Surya Steel Center and Rajputana Advisory
Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 350.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
34,458,829 |
Equity Shares |
Rs. 10/- each |
Rs. 344.588
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 |
344.588 |
318.499 |
318.499 |
|
(b) Reserves & Surplus |
188.761 |
147.653 |
108.386 |
|
(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) |
533.349 |
466.152 |
426.885 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
124.586 |
186.211 |
207.704 |
|
(b) Deferred tax liabilities (Net) |
71.705 |
72.954 |
56.385 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
3.320 |
2.921 |
0.000 |
|
Total
Non-current Liabilities (3) |
199.611 |
262.086 |
264.089 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
892.044 |
867.107 |
723.635 |
|
(b)
Trade payables |
364.583 |
274.588 |
385.970 |
|
(c)
Other current liabilities |
154.846 |
162.019 |
145.952 |
|
(d)
Short-term provisions |
5.929 |
3.484 |
7.213 |
|
Total
Current Liabilities (4) |
1417.402 |
1307.198 |
1262.770 |
|
|
|
|
|
|
TOTAL |
2150.362 |
2035.436 |
1953.744 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
542.856 |
513.289 |
518.473 |
|
(ii)
Intangible Assets |
0.082 |
0.099 |
0.000 |
|
(iii)
Capital work-in-progress |
18.211 |
26.637 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
6.300 |
2.250 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
68.762 |
75.359 |
44.872 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
636.211 |
617.634 |
563.345 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
999.285 |
1007.883 |
811.595 |
|
(c)
Trade receivables |
427.633 |
343.074 |
470.858 |
|
(d)
Cash and cash equivalents |
41.615 |
38.326 |
21.033 |
|
(e)
Short-term loans and advances |
44.357 |
26.624 |
85.904 |
|
(f)
Other current assets |
1.261 |
1.895 |
1.009 |
|
Total
Current Assets |
1514.151 |
1417.802 |
1390.399 |
|
|
|
|
|
|
TOTAL |
2150.362 |
2035.436 |
1953.744 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operation |
2432.015 |
2218.081 |
2459.037 |
|
|
|
Other Income |
6.122 |
11.837 |
6.251 |
|
|
|
TOTAL |
2438.137 |
2229.918 |
2465.288 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1783.913 |
1676.498 |
1809.982 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
51.022 |
(72.073) |
100.502 |
|
|
|
Employees benefits expense |
58.788 |
43.452 |
31.665 |
|
|
|
Other expenses |
309.564 |
351.873 |
261.559 |
|
|
|
TOTAL |
2203.287 |
1999.750 |
2203.708 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
234.850 |
230.168 |
261.580 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
127.646 |
134.713 |
115.809 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
107.204 |
95.455 |
145.771 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
62.230 |
39.968 |
46.028 |
|
|
|
|
|
|
|
|
|
|
EXCEPTIONAL ITEMS |
(0.200) |
(0.443) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
44.774 |
55.044 |
99.743 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
16.711 |
16.662 |
30.579 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
28.063 |
38.382 |
69.164 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
15.539 |
100.005 |
76.304 |
|
|
TOTAL EARNINGS |
15.539 |
100.005 |
76.304 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
CIF Value of Imports |
535.488 |
349.767 |
383.173 |
|
|
TOTAL IMPORTS |
535.488 |
349.767 |
383.173 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.81 |
1.23 |
2.17 |
|
|
PARTICULARS |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
3000.000 |
|
|
|
|
|
The above information has been parted by Mr. Amrendra Thakur (General
Finance Manager)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
61.816 |
64.075 |
71.705 |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from (used in) Operations |
237.995 |
100.710 |
266.935 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.15 |
1.73 |
2.81 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
9.66 |
10.38 |
10.64 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.11 |
2.74 |
5.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.12 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.02 |
2.40 |
2.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07 |
1.08 |
1.10 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities
of Long-term debts
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 |
318.499 |
318.499 |
344.588 |
|
Reserves & Surplus |
108.386 |
147.653 |
188.761 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
426.885 |
466.152 |
533.349 |
|
|
|
|
|
|
Long-term borrowings |
207.704 |
186.211 |
124.586 |
|
Short term borrowings |
723.635 |
867.107 |
892.044 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
71.705 |
64.075 |
61.816 |
|
Total
borrowings |
1003.044 |
1117.393 |
1078.446 |
|
Debt/Equity
ratio |
2.350 |
2.397 |
2.022 |
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 |
2459.037 |
2218.081 |
2432.015 |
|
|
|
(9.799) |
9.645 |
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 |
2459.037 |
2218.081 |
2432.015 |
|
Profit |
69.164 |
38.382 |
28.063 |
|
|
2.81% |
1.73% |
1.15% |
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 |
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10545568 |
29/12/2014 |
2,540,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR,
OPP. SAMARTHESWAR TEMPLE, LAW |
C41660655 |
|
2 |
10540966 |
12/12/2014 |
74,500,000.00 |
RBL BANK LIMITED |
SHAHUPURI,KOLHAPUR,,
KOLHAPUR- 416001, MAHARASHTRA, INDIA |
C39377288 |
|
3 |
10514337 |
24/06/2014 |
1,027,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD
FLOOR, OPP. SAMARTHESWAR TEMPLE, LAW |
C16028565 |
|
4 |
10513120 |
14/06/2014 |
4,600,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD
FLOOR , OPP SAMARTHESWAR TEMPLE,, LAW |
C15176399 |
|
5 |
10481479 |
06/08/2014 * |
8,500,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES,, DR.
V. B. GANDHI MARG, FORT, MUMBAI- 400001, |
C35078807 |
|
6 |
10421597 |
26/03/2013 |
23,806,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES,, DR.
V. B. GANDHI MARG, FORT, MUMBAI- 400001, |
B73707762 |
|
7 |
10296575 |
25/05/2012 * |
1,099,000,000.00 |
PUNJAB NATIONAL BANK |
SURAT MAIN
BRANCH, 1ST FLOOR, MEGHANI TOWER, STAT |
B43845262 |
|
8 |
10295499 |
29/10/2010 |
150,000,000.00 |
IDBI BANK LIMITED |
AHMEDABAD BRANCH
IDBI COMPLEX, OPP. MUNI STAFF, Q |
B04227427 |
|
9 |
10233379 |
02/08/2010 |
1,850,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN,
227,D,, NARIMAN POINT, MUMBAI- 400021,
MAHARASHTRA, INDIA |
A91529818 |
|
10 |
10213906 |
25/03/2010 |
72,000,000.00 |
IDBI BANK LIMITED |
IDBI COMPLEX,
NEAR LAL BUNGLOWS, OFF C G ROAD, |
A83635755 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans repayable on demand from banks |
3.292 |
0.000 |
|
Intercorporate deposits |
0.000 |
30.000 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from directors |
0.575 |
0.000 |
|
Loans and advances from others |
0.000 |
0.200 |
|
Total |
3.867 |
30.200 |
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
·
Other Equipments
Intangible Assets
·
Computer Software
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 records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market survey
revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 65.74 |
|
|
1 |
Rs. 99.53 |
|
Euro |
1 |
Rs. 73.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
IND |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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.