MIRA INFORM REPORT

 

 

Report No. :

340570

Report Date :

11.09.2015

 

IDENTIFICATION DETAILS

 

Name :

VARDHMAN STAMPINGS PRIVATE LIMITED

 

 

Registered Office :

S-2, Murlidhar Complex, Near Snehkunj Bus Stop, S M Road, Ambawadi, Ahmedabad – 380015, Gujarat

Tel. No.:

91-79-26469609 / 2656 2689

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

09.04.1986

 

 

Com. Reg. No.:

04-008612

 

 

Capital Investment / Paid-up Capital :

Rs.30.000 Million

 

 

CIN No.:

[Company Identification No.]

U51909GJ1986PTC008612

 

 

IEC No.:

0889002142

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

AHMV02077F

 

 

PAN No.:

[Permanent Account No.]

AAACV7624G

 

 

Legal Form :

Private Limited Liability Company 

 

 

Line of Business :

Manufacturer and Exporter of Power Transformer Lamination.

 

 

No. of Employees :

125 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (34)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Exist

 

 

Comments :

Subject was incorporated in the year 1986 and it is a manufacturer and exporter of power transformer lamination. Subject is an established company having moderate track record.

 

Management has failed to file its financial record with government department for the year 2014.

 

As per the financial record of 2013, sales turnover of the company has marginally declined by 2.46%, whereas profit margins has been drastically declined and it has reported lower margins at 0.029%.

 

Rating further constrained on account of company’s moderate financial risk profile marked by modest networth and working-capital-intensive nature of its operations driven by long debtor cycle.

 

However, trade relations are reported as fair. Payments are reported to be slow but correct.

 

In view of aforesaid, the company can be considered for business dealing with some caution.

 

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: “BBB”

Rating Explanation

Moderate degree of safety and moderate credit risk.

Date

17.11.2014

 

 

Rating Agency Name

CRISIL

Rating

Short Term Rating: “A3+”

Rating Explanation

Moderate degree of safety and high credit risk.

Date

17.11.2014

 

 

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 31-03-2013.

 

 

 

 

INFORMATION PARTED BY

 

Name :

Mr. Nakul Parikh

Designation :

Finance Manager

Contact No.:

91-79-26562689

Date :

10.09.2015

 

 

LOCATIONS

 

Registered Office :

S-2, Murlidhar Complex, Near Snehkunj Bus Stop, S M Road, Ambawadi, Ahmedabad – 380015, Gujarat, India 

Tel. No.:

91-79-26469609 / 2656 2689

Fax No.:

91-79-26461108

E-Mail :

crgo@vspl.co.in

vinod@vardhmanstampings.com

Prashant.shah@vspl.com

Website :

www.vspl.co.in

Area :

2500 sq. ft.

Location :

Owned

 

 

Factory :

S N 132/C, Budasan Village, Irana Road, Via Kalol, Post Karan Nagar, District Mehsana – 382721, Gujarat, India 

Tel. No.:

91-2764-277866/ 867

Fax No.:

91-2764-277445

 

 

DIRECTORS

 

AS ON 30.09.2013

 

Name :

Mr. Vinod Chinubhai Shah

Designation :

Director

Address :

19, Tapovan Society, Nehru Nagar, Ambawadi, Ahmedabad - 380015, Gujarat, India

Date of Birth/Age :

24.04.1955

Date of Appointment :

09.04.1986

DIN No.:

01836654

 

 

Name :

Mr. Dipakkumar Chinubhai Shah

Designation :

Director

Address :

34, Mithia Scoiety, Ambawadi, Ahmedabad - 380005, Gujarat, India

Date of Birth/Age :

03.11.1957

Date of Appointment :

01.04.2006

DIN No.:

01836659

 

 

Name :

Mr. Prashant Kamleshbhai Shah

Designation :

Director

Address :

257, Manekbag Society, Ellisbridge, Ambawadi, Ahmedabad - 380015, Gujarat, India

Date of Birth/Age :

07.03.1977

Date of Appointment :

01.04.2006

DIN No.:

00233808

 

 

KEY EXECUTIVES

 

Name :

Mr. Nakul Parikh

Designation :

Finance Manager

 

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2013

 

Names of Shareholders

 

No. of Shares

Vinod C. Shah

1999000

Ranjanben V. Shah

3500000

Pathik V. Shah

2499000

Ashka A. Shah

1000

Krutarth V. Shah

1999000

Biruju K. Shah

1000

Kamlesh C. Shah

1499000

Bhartiben K. Shah

3500000

Pathiv K. Shah

2499000

Dipali P. Shah

1000

Prashant K. Shah

2499000

Chaitali P. Shah

1000

Deepak  C. Shah

1999000

Ninaben D. Shah

3500000

Hardik D. Shah

2499000

Hirva H. Shah

1000

Samkit D Shah

2000000

Navkar Transcore Private Limited

1500

SPI Industries Private Limited

1500

 

 

TOTAL

30000000

 

As on 30.09.2013

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Of Holding

Bodies corporate

0.01

Directors or relatives of Directors

99.99

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Power Transformer Lamination.

 

 

Products :

Item Code No. (ITC Code)

 

Product Description

85049010

Parts of Transformers

 

 

Exports :

 

Products :

Finished Goods

Countries :

·         Middle East Countries

·         Africa

 

 

Imports :

 

Products :

Raw Materials

Countries :

·         USA

·         Japan

·         Korea

·         Russia

·         Germany

·         UK

·         Brazil

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Company Name :

A K Steel - USA

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark :

Not Divulged

 

 

Customers :

Company Name :

Kirloskar Electricals Limited – Bangalore

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark :

Not Divulged

 

 

No. of Employees :

125 (Approximately)

 

 

Bankers :

Banker Name :

Bank of Baroda

Branch :

S M Road, Ambawadi, Ahmedabad-380006, Gujarat, India  

Person Name (With Designation) :

Not Divulged

Contact Number :

91-79-26601257

Name of Account Holder :

Not Divulged

Account Number :

Not Divulged

Account Since (Date/Year of Account Opening) :

Not Divulged

Average Balance Maintained :

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan) :

Cash Credit Rs.900.000 Million

Account Operation :

Not Divulged

Remark :

Not Divulged

 

 

Facilities :

SECURED LOAN

31.03.2013

Rs. in Million

31.03.2012

Rs. in Million

Short-Term Borrowings

 

 

Rupee term loans from banks

477.483

385.247

 

 

 

Total

477.483

385.247

 

Auditors :

 

Name :

Mukesh M Shah and Company

Chartered Accountants 

Address :

1st Floor, H K house, Ashram Road, Ahmedabad – 380009, Gujarat, India 

PAN No. :

AAIFM0810A

 

 

Memberships :

Not Divulged

 

 

Collaborators :

Not Divulged

 

 

Enterprises which are owned, or have significant influence of or are partners

with Key management personnel and their relatives (As on 31.03.2013) :

·         SPI Industries Private Limited

·         Veer Steel Processor

·         Navkar Transcore Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3000000

Equity Shares

Rs.10/- each

Rs. 30.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3000000

Equity Shares

Rs.10/- each

Rs. 30.000 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2013

31.03.2012

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

30.000

30.000

(b) Reserves & Surplus

 

154.059

155.392

(c) Money received against share warrants

 

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

 

0.000

0.000

Total Shareholders’ Funds (1) + (2)

 

184.059

185.392

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

135.779

145.809

(b) Deferred tax liabilities (Net)

 

3.117

2.861

(c) Other long term liabilities

 

0.000

0.000

(d) long-term provisions

 

1.040

1.141

Total Non-current Liabilities (3)

 

139.936

149.811

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

477.483

385.247

(b) Trade payables

 

155.258

391.389

(c) Other current liabilities

 

10.009

11.519

(d) Short-term provisions

 

2.056

3.832

Total Current Liabilities (4)

 

644.806

791.987

 

 

 

 

TOTAL

 

968.801

1127.190

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

145.109

101.986

(ii) Intangible Assets

 

0.006

0.010

(iii) Capital work-in-progress

 

0.000

2.308

(iv) Intangible assets under development

 

0.000

0.000

(b) Non-current Investments

 

0.718

0.006

(c) Deferred tax assets (net)

 

0.000

0.000

(d)  Long-term Loan and Advances

 

8.686

7.402

(e) Other Non-current assets

 

0.000

0.000

Total Non-Current Assets

 

154.519

111.712

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

0.000

0.000

(b) Inventories

 

148.172

378.487

(c) Trade receivables

 

390.031

316.213

(d) Cash and cash equivalents

 

194.226

275.064

(e) Short-term loans and advances

 

81.008

45.054

(f) Other current assets

 

0.845

0.660

Total Current Assets

 

814.282

1015.478

 

 

 

 

TOTAL

 

968.801

1127.190

 

 

SOURCES OF FUNDS

 

 

 

31.03.2011

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

 

30.000

2] Share Application Money

 

 

0.000

3] Reserves & Surplus

 

 

125.039

4] (Accumulated Losses)

 

 

0.000

NETWORTH

 

 

155.039

LOAN FUNDS

 

 

 

1] Secured Loans

 

 

105.289

2] Unsecured Loans

 

 

123.893

TOTAL BORROWING

 

 

229.182

DEFERRED TAX LIABILITIES

 

 

2.513

 

 

 

 

TOTAL

 

 

386.734

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

 

93.243

Capital work-in-progress

 

 

8.273

 

 

 

 

INVESTMENT

 

 

0.001

DEFERREX TAX ASSETS

 

 

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 
 
168.016

 

Sundry Debtors
 
 
246.550

 

Cash & Bank Balances
 
 
110.685

 

Other Current Assets
 
 
0.000

 

Loans & Advances
 
 
39.883

Total Current Assets
 
 
565.134

Less : CURRENT LIABILITIES & PROVISIONS
 
 
 

 

Sundry Creditors
 
 
264.922

 

Other Current Liabilities
 
 
4.413

 

Provisions
 
 
10.582

Total Current Liabilities
 
 
279.917

Net Current Assets
 
 
285.217

 

 

 

 

MISCELLANEOUS EXPENSES

 

 

0.000

 

 

 

 

TOTAL

 

 

386.734

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

Gross Sales / Income

1423.767

1459.955

 

 

 

Other Income

NA

NA

 

 

 

TOTAL                                    

NA

NA

1275.467

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

1217.914

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

17.509

61.617

57.553

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

16.656

13.161

11.729

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

0.853

48.456

45.824

 

 

 

 

 

Less

TAX

0.431

16.360

15.499

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

0.422

32.096

30.325

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

44.932

34.580

25.997

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

 0.000

20.000

20.000

 

Balance Carried to the B/S

45.354

44.932

34.580

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

71.896

116.327

58.277

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

0.14 

10.70

10.11

 

 

Particulars

 

 

31.03.2015

31.03.2014

Sales Turnover (Approximately)

 

1560.000

930.000

Expected Sales (2015-2016): Rs.1560.000 Million

 

The above information has been parted by Mr. Nakul Parikh (Finance Manager)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2013

31.03.2012

31.03.2011

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

(89.137)

(89.125)

0.000

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

 

 

 

 
 

Return on Total Assets

(PBT/Total Assets}

(%)

0.09

4.31
6.96

 

 

 

 
 

Return on Investment (ROI)

(PBT/Networth)

 

0.00

0.26
0.30

 

 

 

 
 

Debt Equity Ratio

(Total Debt /Networth)

 

3.33

2.86
1.48

 

 

 

 
 

Current Ratio

(Current Asset/Current Liability)

 

1.26

1.28
2.02

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

 

Rs. In Million

Rs. In Million

Share Capital

30.000

30.000

Reserves & Surplus

155.392

154.059

Net worth

185.392

184.059

 

 

 

long-term borrowings

145.809

135.779

Short term borrowings

385.247

477.483

Total borrowings

531.056

613.262

Debt/Equity ratio

2.865

3.332

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

 

31.03.2012

31.03.2013

 

 

Rs. In Million

Rs. In Million

Gross Sales / Income

 

1459.955

1423.767

 

 

 

(2.479)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

 

31.03.2012

31.03.2013

 

 

Rs. In Million

Rs. In Million

Gross Sales / Income

 

1459.955

1423.767

Profit

 

32.096

0.422

 

 

2.20%

0.03%

 

 

 

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

Yes

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

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)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

Yes

19

Major customers

Yes

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

No

26

Turnover of firm for last five years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

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:

 

 

 

HIGH COURT OF GUJARAT

 

SPECIAL CRIMINAL APPLICATION (QUASHING) No. 1050 of 2014

 

Status : PENDING

CCIN No : 001047201401050

 

 

Last Listing Date:

14/10/2014

Coram

·         HONOURABLE MR.JUSTICE J.B.PARDIWALA

Not Before :

·         HONOURABLE MR.JUSTICE G.R.UDHWANI

·         HONOURABLE MR.JUSTICE R.P.DHOLARIA

 

S.NO.

Name of the Petitioner

Advocate On Record

1
2
3

INDIAN TRANSFORMERS CO. LIMITED
HARIDAS GAUTAMKUMAR DAVE
KESHAVDAS GAUTAMKUMAR DAVE

MR P P MAJMUDAR for: Applicant(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1 - 3

 

S.NO.

Name of the Respondant

Advocate On Record

1
2

STATE OF GUJARAT
VARDHMAN STAMPINGS PVT LTD

PUBLIC PROSECUTOR for :Respondent(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1
NOTICE SERVED BY DS for :Respondent(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1
MR MITESH R AMIN for :Respondent(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 2

 

 

Presented On

: 12/03/2014

Registered On

: 12/03/2014

Bench Category

: -

District

: AHMEDABAD

Case Originated From

: THROUGH HIS/HER/THEIR ADVOCATE

Listed

: 7 times

StageName

: NOTICE RETURNABLE & ADJOURNED MATTERS

 

Classification

·         SJ - SPECIAL CRIMINAL APPLICATION - UNDER ARTICLE 226 - QUASHING OF PROCEEDINGS / FIR / CRIMINAL COMPLAINT ETC.

Act

·         CONSTITUTION OF INDIA

 

 

LowerCourt Details

 

S.No.

LowerCourt CaseDetail

LowerCourtName

JudgeName

Judgmentdate

1

CRIMINAL CASE/1286/2013

ADDITIONAL CHIEF METROPOLITAN MAGISTRATE COURT, AHMEDABAD

-

03/08/2013

 

 

Office Details

 

S. No.

Filing Date

Document Name

Advocate Name

Court Fee on Document

Document Details

1

13/03/2014

APPEARANCE NOTE

PUBLIC PROSECUTOR 
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

0

PUBLIC PROSECUTOR(2) for R:1

2

13/03/2014

VAKALATNAMA

MR P P MAJMUDAR ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

5

MR P P MAJMUDAR(5284) for P:1 - 3

3

13/03/2014

CERTIFIED COPY

MR P P MAJMUDAR ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

14

MR P P MAJMUDAR(5284), for P:1 - 3

4

13/03/2014

MEMO OF PETITION/APPEAL/SUIT

MR P P MAJMUDAR ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

300

MR P P MAJMUDAR(5284), for P:1 - 3

5

25/03/2014

AFFIDAVIT OF DS

MR P P MAJMUDAR ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 1

0

MR P P MAJMUDAR(5284) for P:1 - 3

6

16/04/2014

VAKALATNAMA

MR MITESH R AMIN ADVOCATE
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png 2

5

MR MITESH R AMIN(2876) for R:2

 

 

Court Proceedings

 

S. No.

Notified Date

CourtCode

Board Sr. No.

Stage

Action

Coram

1

14/03/2014

23

20

FRESH MATTERS - QUASHING

NEXT DATE

·         HONOURABLE MR.JUSTICE G.R.UDHWANI

2

16/04/2014

23

111

NOTICE RETURNABLE & ADJOURNED MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE G.R.UDHWANI

3

25/04/2014

14

111

NOTICE RETURNABLE & ADJOURNED MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE G.R.UDHWANI

4

22/07/2014

14

111

NOTICE RETURNABLE & ADJOURNED MATTERS

NEXT DATE

·         HONOURABLE MR.JUSTICE R.M.CHHAYA

5

14/08/2014

14

110

NOTICE RETURNABLE & ADJOURNED MATTERS

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·         HONOURABLE MR.JUSTICE R.M.CHHAYA 

·         HONOURABLE MR.JUSTICE J.B.PARDIWALA

 

 

Available Orders

 

S. No.

Case Details

Judge Name

Order Date

CAV

Judgement

Questions

Transferred

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1

SPECIAL CRIMINAL APPLICATION/1050/2014

·         HONOURABLE MR.JUSTICE G.R.UDHWANI

14/03/2014

N

ORDER

-

Y

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INDEX OF CHARGES

 

S.no.

Charge id

Date of charge creation/modification

Charge amount secured

Charge holder

Address

Service request number (SRN)

1

10465919

27/10/2012

32,000,000.00

Bank of Baroda

S.M. Road Branch, 42, Tapovan Soc., Nr. Manek Baug Hall, Ahmedabad, Gujarat - 380015, India

B83486795

2

10464649

09/08/2012

17,000,000.00

Bank of Baroda

S.M. Road Branch, 42, Tapovan Soc., Nr. Manek Baug Hall, Ahmedabad, Gujarat - 380015, India

B83485631

3

90104448

05/02/2014 *

1,295,000,000.00

Bank of Baroda

S. M. Road, Ambawadi, Ahmedabad, Gujarat - 380006, India

B96707492

 

* Date of charge modification

 

 

REVIEW OF BUSINESS:

 

The turnover and registering profit after tax of Rs. 0.422 Million which was made possible through inserting capital equipment last year and better production planning. Directors are exploring various other opportunities to further improve the working results during the current year.

 

 

UNSECURED LOAN

 

PARTICULARS

31.03.2013

Rs. in Million

31.03.2012

Rs. in Million

Long-Term Borrowings

 

 

Rupee term loans from others

135.779

145.809

 

 

 

Total

135.779

145.809

 

 

 

 

 

FIXED ASSETS

 

Tangible Assets

·         Land

·         Buildings

·         Plant and Equipment

·         Furniture and Fixtures

·         Vehicles

·         Office Equipment

 

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, 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 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.66.58

UK Pound

1

Rs.102.29

Euro

1

Rs.74.71

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NKT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

4

--RESERVES

1~10

4

--CREDIT LINES

1~10

3

--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

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

 

34

 

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

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.