MIRA INFORM REPORT
|
Report No. : |
346737 |
|
Report Date : |
30.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
PEE VEE TEXTILES LIMITED |
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|
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Formerly Known
As : |
PEE VEE TEXTILES PRIVATE LIMITED |
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Registered
Office : |
At-Jamb, Tahsil – Samudrapur, Jamb, Mumbai – 442305, Maharashtra |
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Tel. No.: |
91-22-22045823 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
10.03.1986 |
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Com. Reg. No.: |
11-039177 |
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Capital
Investment / Paid-up Capital : |
Rs. 150.000 Million |
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CIN No.: [Company Identification
No.] |
U17110MH1986PLC039177 |
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IEC No.: |
0392049970 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCP0024F |
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Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business
: |
Manufacturer of Yarn and Threads, Greige Yarn, Greige Fabric, Combed
Cotton Yarn and Fancy Yarn. |
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|
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No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was set up in 1986 by members of the Mohota family. The
company manufacturers cotton fabric, poly-cotton fabric, poly-viscose fabric,
cotton yarn, poly-cotton yarn and poly-viscose yarn. The company’s spinning
and weaving unit is located in Wardha district of Maharashtra. It has fine
track record. The rating takes into consideration above-average financial risk
profile marked by its healthy networth base, decent cash accruals, moderate
gearing, fair liquidity position and good profitability levels of the
company. The rating also takes into consideration extensive experience of company’s
promoters in the textile industry and its healthy operating efficiencies. Trade relations are reported as fair. Business is active. Payment 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.
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL RATINGS |
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Rating |
Long Term Rating = BBB+ |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk |
|
Date |
January 13, 2015 |
|
Rating Agency Name |
CRISIL RATINGS |
|
Rating |
Short Term Rating = A2 |
|
Rating Explanation |
Have strong degree of safety and carry low credit risk |
|
Date |
January 13, 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. Jayant Gangar |
|
Designation : |
Account Department |
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Contact No.: |
91-22-22045823 |
|
Date : |
27.10.2015 |
LOCATIONS
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Registered Office : |
At-Jamb, Tahsil – Samudrapur, Jamb, Mumbai – 442305, Maharashtra,
India |
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Tel. No.: |
91-22-22045823 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Industrial |
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SPINNING DIVISION : |
N. H. No. 7, Samudrapur, Jam-4420305, Maharashtra India |
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Works Tel No.: |
91-7151-225449/225548/270145 |
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Sales Tel No.: |
91-7151-225380 |
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Fax No.: |
91-7151-225448 |
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Email : |
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WEAVING DIVISION : |
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Works Tel No.: |
91-7151-270090 |
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Sales Tel No.: |
91-7151-270090 |
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Fax No.: |
91-7151-225448 |
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Email : |
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Mumbai Office: |
202, Niranjan, 99, |
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Tel. No.: |
91-22-22882169/ 22045823/ 24 |
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Fax No.: |
91-22-22045813 |
DIRECTORS
AS ON 28.08.2014
|
Name : |
Mr. Arunkumar Gwaldas Mohota |
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Designation : |
Managing Director |
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Address : |
MT-27-408317, Mohota Garden, N. H. No.7, Hinganghat, Wardha – 442301,
Maharashtra, India |
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Date of Birth/Age : |
12.08.1959 |
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Date of Appointment : |
01.10.2012 |
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PAN No.: |
ACDPM8261E |
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DIN No.: |
01153466 |
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Other Directorship :
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Name : |
Kulbhushan Gurcharndas Khullar |
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Designation : |
Director |
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Address : |
715 , Sector -9, Panchkula – 134109, Haryana India |
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Date of Birth/Age : |
01.01.1950 |
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Date of Appointment : |
01.06.2013 |
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DIN No.: |
06596120 |
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Name : |
Mr. Kasturia Kumar Jatindar |
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Designation : |
Whole-time Director |
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Address : |
Quarter No.A1/3, Pee Vee Textiles Limited, Jam, Wardha – 442305,
Maharashtra, India |
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Date of Birth/Age : |
04.03.1951 |
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Date of Appointment : |
01.04.2011 |
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PAN No.: |
ACCPK9604J |
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DIN No.: |
01030103 |
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Name : |
Prabal Ranjan Roy |
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Designation : |
Additional Director |
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Address : |
36, Amaltas Bungalow, Bodakdev, Ahmedabad – 380054, Gujarat, India |
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Date of Appointment : |
01.11.2014 |
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DIN No.: |
00514330 |
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Other Directorship :
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Name : |
Sarladevi Gwaldasji Mohota |
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Designation : |
Additional Director |
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Address : |
Mohota Garden, N.H. No.7, Hinganghat – 442301, Maharashtra, India |
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Date of Appointment : |
10.01.2015 |
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DIN No.: |
01055578 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Jayant Gangar |
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Designation : |
Account Department |
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|
Name : |
Mr. Budhraj Dharmichand Jain |
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Designation : |
Company Secretary |
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Address : |
A-204, Sealand Tower, Jesal Park, Bhyander (East), Mumbai – 401105,
Maharashtra, India |
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Date of Birth/Age : |
01.09.1969 |
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Date of Appointment : |
11.01.2001 |
MAJOR SHAREHOLDERS
AS ON 28.08.2014
|
Names of Shareholders |
|
No. of Shares |
|
Arunkumar Gwaldas Mohota |
|
1551000 |
|
B. A. Mohota Textiles Trader Private Limited, India |
|
3745500 |
|
Perfect Synthetic Limited, India |
|
3743248 |
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Gwaldas Mathuradasji Mohota |
|
1725000 |
|
Sarladevi Gwaldasji Mohota |
|
1525100 |
|
Aartidevi Arunkumar Mohota |
|
750752 |
|
Sneha Mohota |
|
12000 |
|
Adarsh Kumar Mohota |
|
1110000 |
|
Arunkumar Gwaldasji Mohota |
|
282675 |
|
Gwaldasji Mathuradasji Mohota |
|
444500 |
|
Giriraj Trading Private Limited, India |
|
110225 |
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|
|
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Total |
|
15000000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 28.08.2014
|
Category |
Percentage |
|
Bodies corporate |
50.66 |
|
Directors or relatives of Directors |
49.34 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Yarn and Threads, Greige Yarn, Greige Fabric, Combed
Cotton Yarn and Fancy Yarn. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Germany |
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Terms : |
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Selling : |
Cash and Credit (30/60/90 days) |
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Purchasing : |
Cash and Credit (30/60/90 days) |
GENERAL INFORMATION
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Suppliers : |
Not Divulged
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Customers : |
Not Divulged
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No. of Employees : |
500 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
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Auditors : |
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|
Name : |
Tapdiya Chandra and Company Chartered Accountants |
|
Address : |
Jai Road, Civil Lines, Warda-442001, Maharashtra, India |
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PAN No.: |
AAAFT7405J |
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Memberships : |
-- |
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Collaborators : |
-- |
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Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives : |
·
B A Mohota Textiles Traders Limited CIN No.: U17120MH1982PLC028369 ·
Perfect Synthetics Private Limited CIN No.: U17100MH1988PTC047477 ·
Giriraj Trading Private Limited CIN No.: U51474MH1993PTC072289 ·
Uday Textile Processors Private Limited CIN No.: U17100MH1998PTC115729 |
CAPITAL STRUCTURE
AS ON 28.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000
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 |
150.000 |
150.000 |
150.000 |
|
(b) Reserves & Surplus |
1227.805 |
908.378 |
605.268 |
|
(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) |
1377.805 |
1058.378 |
755.268 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1373.995 |
1510.620 |
1119.525 |
|
(b) Deferred tax liabilities (Net) |
168.749 |
149.274 |
96.035 |
|
(c) Other long term
liabilities |
1.686 |
1.585 |
0.803 |
|
(d) long-term
provisions |
23.518 |
20.467 |
15.181 |
|
Total Non-current
Liabilities (3) |
1567.948 |
1681.946 |
1231.544 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
702.953 |
603.074 |
433.845 |
|
(b) Trade
payables |
192.353 |
157.241 |
148.202 |
|
(c) Other current
liabilities |
363.763 |
292.711 |
182.222 |
|
(d) Short-term
provisions |
102.609 |
70.161 |
56.446 |
|
Total Current
Liabilities (4) |
1361.678 |
1123.187 |
820.715 |
|
|
|
|
|
|
TOTAL |
4307.431 |
3863.511 |
2807.527 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2213.231 |
2319.714 |
1442.919 |
|
(ii)
Intangible Assets |
0.171 |
0.258 |
0.000 |
|
(iii)
Capital work-in-progress |
84.461 |
15.210 |
65.700 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.008 |
0.008 |
0.008 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
82.392 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
1.916 |
0.188 |
0.112 |
|
Total Non-Current
Assets |
2382.179 |
2335.378 |
1508.739 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
825.861 |
774.161 |
545.611 |
|
(c) Trade
receivables |
697.813 |
484.628 |
498.823 |
|
(d) Cash
and cash equivalents |
110.326 |
57.956 |
3.532 |
|
(e)
Short-term loans and advances |
164.473 |
124.951 |
15.367 |
|
(f) Other
current assets |
126.779 |
86.437 |
235.455 |
|
Total Current
Assets |
1925.252 |
1528.133 |
1298.788 |
|
|
|
|
|
|
TOTAL |
4307.431 |
3863.511 |
2807.527 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
6456.875 |
5208.098 |
4190.212 |
|
|
Other Income |
20.666 |
8.106 |
(3.720) |
|
|
TOTAL |
6477.541 |
5216.204 |
4186.492 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
3980.166 |
3246.255 |
2802.738 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
2.479 |
(24.942) |
(205.133) |
|
|
Employees benefits expense |
305.634 |
255.224 |
172.104 |
|
|
Other expenses |
1165.971 |
984.968 |
703.281 |
|
|
TOTAL |
5454.250 |
4461.505 |
3472.990 |
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1023.291 |
754.699 |
713.502 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
174.243 |
170.931 |
109.000 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
849.048 |
583.768 |
604.502 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
338.183 |
261.665 |
199.334 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
510.865 |
322.103 |
405.168 |
|
|
|
|
|
|
|
Less |
TAX |
173.889 |
111.826 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
336.976 |
210.277 |
405.168 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.000 |
10.793 |
0.000 |
|
|
Stores & Spares |
69.578 |
49.392 |
0.000 |
|
|
Capital Goods |
163.223 |
455.379 |
0.000 |
|
|
TOTAL IMPORTS |
232.801 |
515.564 |
0.000 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
22.47 |
14.02 |
27.01 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
7000.000 |
|
|
|
|
|
The above information has been parted by Mr. Jayant Gangar (Account
Department)
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 |
|
Net cash flow from (used in) operation |
683.590 |
677.181 |
306.602 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
5.22 |
4.04 |
9.67 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
15.85 |
14.49 |
17.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.10 |
8.37 |
14.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37 |
0.30 |
0.54 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.51 |
2.00 |
2.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41 |
1.36 |
1.58 |
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 |
150.000 |
150.000 |
150.000 |
|
Reserves & Surplus |
605.268 |
908.378 |
1227.805 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
755.268 |
1058.378 |
1377.805 |
|
|
|
|
|
|
long-term borrowings |
1119.525 |
1510.620 |
1373.995 |
|
Short term borrowings |
433.845 |
603.074 |
702.953 |
|
Current Maturities of Long
Term Debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
1553.370 |
2113.694 |
2076.948 |
|
Debt/Equity
ratio |
2.057 |
1.997 |
1.507 |
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 |
4190.212 |
5208.098 |
6456.875 |
|
|
|
24.292 |
23.978 |
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 |
4190.212 |
5208.098 |
6456.875 |
|
Profit |
405.168 |
210.277 |
336.976 |
|
|
9.67% |
4.04% |
5.22% |
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 |
Yes |
|
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 four 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 |
UNSECURED LOAN
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Loans and advances from others |
160.514 |
146.117 |
|
Loans and advances from director |
37.099 |
36.498 |
|
|
|
|
|
SHORT TERM
BORROWING |
|
|
|
Loans and advances from others |
79.089 |
35.510 |
|
Loans and advances from directors |
4.138 |
13.417 |
|
|
|
|
|
Total |
280.840 |
231.542 |
|
|
|
|
REVIEW OF OPERATIONS
During the year the Company improved its performance both in fabric and yarns division. Though raw material prices increased marginally, the Company was able to augment its top line and margins through an efficient cost-push to the end-users. The company’s sales increased 24% from Rs. 5210.000 Million in FY 2012-13 to Rs. 6460.000 Million in FY 2013-14 in line with expansion project of addition in weaving capacity completed at the end of March 2013, with exports constituting 33% of the total sales to Rs.2090.000 Million. The company’s gross profit margin also improved from 14.47% in FY 2012-13 to 15.80% in FY 2013-14.
Cash Profit of the Company for the current year stood at Rs.675.200 Million as against Rs.472.000 Million in the year 2013. The net profit for the current year stood at Rs.337.000 Million as against Rs. 210.300 Million in the year 2013.
The Company managed to increase production volumes and entered into newer regions along with growing presence in the domestic as well as international markets. The Company managed to achieve a reasonably improved performance through various initiatives like quality improvement, upgradation to modern technology, capacity expansion, identifying the right product mix, identifying the right market and various cost reduction initiatives.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10516751 |
10/09/2014 * |
100,000,000.00 |
Union Bank of India |
Hinganghat Branch, Dist- Wardha, Hinganghat, Maharashtra - 442301, INDIA |
C24974347 |
|
2 |
10508515 |
10/09/2014 * |
300,000,000.00 |
IDBI Bank Limited |
Specialised Corporate Banking BranchH, IDBI Tower, 5th Floor, Bandra Kurla Complex, MUMBAI, Maharashtra - 400051, INDIA |
C24809378 |
|
3 |
10495579 |
10/09/2014 * |
400,000,000.00 |
State Bank of India |
COMMERCIAL BRANCH, N.G.VAIDYA MARG, HORNIMAN CIRCLE, FORT, MUMBAI, Maharashtra - 400001, INDIA |
C24811234 |
|
4 |
10488541 |
10/09/2014 * |
300,000,000.00 |
STATE BANK OF HYDERABAD |
CORPORATE FINANCE
BRANCH, 11-C, MITTAL TOWER, 210 INDIA |
C24268245 |
|
5 |
10429565 |
13/09/2013 * |
150,000,000.00 |
STATE BANK OF HYDERABAD |
CORPORATE FINANCE BRANCH, 11-C, MITTAL TOWER, 210, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B86445889 |
|
6 |
10424653 |
13/09/2013 * |
140,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, JUSTIC NGN VAIDYA MARG, HORNIMAN CIRCLE, FORT, MUMBAI, Maharashtra - 400001, INDIA |
B86443215 |
|
7 |
10358819 |
16/07/2012 * |
100,000,000.00 |
STATE BANK OF HYDERABAD |
CORPORATE FINANCE
BRANCH, 11-C, MITTAL TOWER, 210 INDIA |
B56411713 |
|
8 |
10346304 |
16/07/2012 * |
250,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, JUSTIC NGN VAIDYA MARG, HORNIMAN CIRCLE, FORT, MUMBAI, Maharashtra - 400001, INDIA |
B45402617 |
|
9 |
10335729 |
16/07/2012 * |
150,000,000.00 |
IDBI Bank Limited |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA |
B45084613 |
|
10 |
10300411 |
16/07/2012 * |
260,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, JUSTIC NGN VAIDYA MARG, HORNIMAN CIRCLE, FORT, MUMBAI, Maharashtra - 400001, INDIA |
B45403409 |
* Date of charge modification
FIXED ASSETS
- Land
- Building
- Plant and
Equipment
- Furniture and
Fixture
- Vehicle
- Office
Equipment
- Computer
Equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 registred 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. 65.04 |
|
UK Pound |
1 |
Rs. 99.58 |
|
Euro |
1 |
Rs. 71.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
52 |
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.