MIRA INFORM REPORT

 

 

Report No. :

342078

Report Date :

23.09.2015

 

IDENTIFICATION DETAILS

 

Name :

LLOYD INSULATIONS (INDIA) LIMITED

 

 

Registered Office :

M-13, Connaught Place, New Delhi – 110001

Tel. No.:

91-11-30882900

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

06.06.1977

 

 

Com. Reg. No.:

55-008629

 

 

Capital Investment / Paid-up Capital :

Rs. 300.000 Million

 

 

CIN No.:

[Company Identification No.]

U74210DL1977PLC008629

 

 

IEC No.:

0588053660

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUML04371D

 

 

PAN No.:

[Permanent Account No.]

AAACL0486E

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Ceramic Fibre Products, Rigid Polyurethane Foam Sandwich Panels, Rigid Polyurethane Foam Slaps, Pipe Sections, etc.

 

 

No. of Employees :

1500 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (50)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 8086700

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Exist

 

 

Comments :

Subject was incorporated on 6th June, 1977 and is based in Delhi, India.

 

The company was promoted by Mr. N. P. Punj, Mr. C.P. Khanna and Mr. P.P. Munjal to manufacture ceramic fibre insulation products. It has satisfactory track record.

 

There is significant decline in the revenues and profitability of the company during FY2014. However, the company possesses a decent profile marked by decent networth base along with fair liquidity.

 

The rating also takes into consideration established track record of the company, sound technical expertise as reflected by its sizeable market share in the thermal insulation industry, large scale of company’s operations and diversified product profile.

 

Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct.

 

The company can be considered for normal 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

ICRA

Rating

Fund Based Limits=A-

Rating Explanation

Have adequate degree of safety and carry low credit risk

Date

March, 2015

 

 

Rating Agency Name

ICRA

Rating

Non Fund Based Limits=A2+

Rating Explanation

Have strong degree of safety and carry low credit risk

Date

March, 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 (GENERAL DETAILS)

 

Name :

Mr. Rajesh Mittal

Designation :

Deputy General Manager in Accountant

Contact No.:

91-11-30882900

Date :

21.09.2015

 

 

LOCATIONS

 

Registered Office :

M-13, Connaught Place, New Delhi – 110001, India

Tel. No.:

91-11-30882900

Fax No.:

91-11-30882894

E-Mail :

lloyd@del2.vsnl.net.in

deepakk.tyagi@gmail.com

anilkumar@lloydinsulations.com

bjk@lloydinsulations.in

kb.kol@lloydinsualtion.com

kk.mitra@lloydinsulation.com

Website :

www.lloydinsulations.com

 

 

Regional Office :

Punj Star Premises, Kalkaji Industrial Area, New Delhi-110019, India

Tel. No.:

91-11-30882900 to 06

Fax No.:

91-11-30882894 / 95

 

 

Factories :

Located at:

 

·         Baddi

·         Solan

·         Himachal Pradesh

 

 

Branch Offices :

Located at:

 

·         Angul

·         Bangalore

·         Barauni

·         Bamer

·         Baroda

·         Bhatinda

·         Bhilai

·         Bhubaneswar

·         Bina

·         Chandigarh

·         Chennai

·         Cochin

·         Durgapur

·         Guwahati

·         Haldia

·         Hyderabad

·         Jamnagar

·         Jamshedpur

·         Kanpur

·         Kolkata

·         Kota

·         Lucknow

·         Mangalore

·         Mathura

·         Mumbai

·         Panipat

·         Pata

·         Pune

·         Raipur

·         Rourekela

·         Surat

·         Visakhapatnam

 

 

DIRECTORS

 

AS ON 29.09.2014

 

Name :

Mr. Nilender Prakash Punj

Designation :

Managing Director

Address :

10, Prithvi Raj Road, New Delhi-110011, Delhi, India

Date of Birth/Age :

02.04.1939

Qualification :

B. A

Experience :

54 Years

Date of Appointment :

11.12.1986

PAN No.:

AAEPP2383B

DIN No.:

00048157

 

 

Name :

Mrs. Gita Punj

Designation :

Director

Address :

10, Prithvi Raj Road, New Delhi-110011, Delhi, India

Date of Birth/Age :

15.04.1948

Date of Appointment :

31.07.1990

DIN No.:

00048203

 

 

Name :

Mrs. Gautam Punj

Designation :

Whole-Time Director

Address :

10, Prithvi Raj Road, New Delhi-110011, Delhi, India

Date of Birth/Age :

08.01.1974

Qualification :

Law Graduate

Experience :

16 Years

Date of Appointment :

19.04.2003

PAN No.:

AAJPP1471D

DIN No.:

00048225

 

 

Name :

Mr. Mohit Khanna

Designation :

Whole-Time Director

Address :

7 /15, Kalkaji Extention, New Delhi-110019, Delhi, India

Date of Birth/Age :

23.08.1960

Qualification :

PGDM (Mach. Engg.)

Experience :

32 Years

Date of Appointment :

30.06.1993

PAN No.:

AASPK9953G

DIN No.:

00059431

 

 

Name :

Mr. Chander Prakash Khanna

Designation :

Managing Director

Address :

2 /19, Kalkaji Extention, New Delhi-110019, Delhi, India

Date of Birth/Age :

18.03.1931

Qualification :

B. SC, LLB

Experience :

59 Years

Date of Appointment :

10.06.1977

PAN No.:

AAIPK4355Q

DIN No.:

00059450

 

 

Name :

Mr. Venkatraman Mohan

Designation :

Director

Address :

Waman, 46/3, Garodia Nagar, Ghatkopar (East), Mumbai-400077, Maharashtra, India

Date of Birth/Age :

06.05.1951

Date of Appointment :

07.08.1991

DIN No.:

00071517

 

 

Name :

Mr. Vineet Prakash Munjal

Designation :

Whole-Time director

Address :

601-602, Green Acres - I CHS Limited, 7th Floor, 'B' Wing Lokhandwala Complex, Andheri (West), Mumbai-400053, Maharashtra, India

Date of Birth/Age :

30.09.1961

Qualification :

Master (Chemical Engg.)

Experience :

28 Years

Date of Appointment :

30.06.1993

PAN No.:

AABPM3326L

DIN No.:

00933303

 

 

Name :

Mrs. Gayatri Punj

Designation :

Director

Address :

13, Albion St., London, W22AS, United Kingdom

Date of Birth/Age :

06.06.1978

Date of Appointment :

19.04.2003

DIN No.:

01171133

 

 

Name :

Mrs. Gauri Punj Talwar

Designation :

Director

Address :

10, Prithvi Raj Road, New Delhi-110003, Delhi, India

Date of Birth/Age :

25.02.1972

Date of Appointment :

11.12.1991

DIN No.:

01450615

 

 

Name :

Mr. Suneet Prakash Munjal

Designation :

Additional Director

Address :

41, Sainara Apartments., 17, Cuffe Parade, Mumbai, 400005, Maharashtra, India

Date of Birth/Age :

21.01.1964

Qualification :

FCA

Experience :

27 Years

Date of Appointment :

05.09.2014

PAN No.:

AABPM3325A

DIN No.:

00677710

 

 

KEY EXECUTIVES

 

Name :

Mrs. Ashwini Kumar Kohli

Designation :

Secretary

Address :

A-84, Vivek Vihar – 1,  Delhi – 110095, India

Date of Birth/Age :

16.04.1961

Date of Appointment :

04.08.2014

PAN No.:

AIPPK0844D

 

 

Name :

Mr. Rajesh Mittal

Designation :

Deputy General Manager in Accountant

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 29.09.2014

 

NOTE: SHAREHOLDING DETAILS FILE ATTACHED

 

 

AS ON 29.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Bodies corporate

61.92

Directors or relatives of directors

38.08

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Ceramic Fibre Products, Rigid Polyurethane Foam Sandwich Panels, Rigid Polyurethane Foam Slaps, Pipe Sections, etc.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

Ceramic Fibre Products

Rigid Polyurethane Foam Sandwich Panels

Rigid Polyurethane Foam Slaps

Countries :

·         Middle East Countries

·         Australia

·         China

·         European Countries

 

 

Imports :

 

Products :

--

Countries :

--

 

 

Terms :

 

Selling :

Cheque and Credit

 

 

Purchasing :

Cheque and Credit

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

End Users and OEMs

 

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

1500 (Approximately)

 

 

Bankers :

Bank Name:

Citibank N.A

Branch:

Jeevan Bharti Building, 4th Floor, 124 Connaught Circus, Connaught Place, New Delhi - 110001, Delhi, India

Person Name (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

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

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         ICICI Bank Limited

Landmarkrace Cource Circle, Alkapuri, Baroda-390015, Gujarat, India  

·         Axis Bank Limited

2nd Floor, Statesman House, 148, Barakhamba Road, New Delhi – 110001, India

·         IDBI Bank Limited

Indian Red Cross Road, Post Bag No.231, New Delhi – 110001, India

·         Punjab and Sind Bank

91, Bhandari House, Nehru Place, New Delhi – 110019, India

·         HDFC Bank Limited

HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400013, Maharashtra, India

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Rupee term loans from banks

18.750

38.250

Loans taken for fixed assets

10.714

0.000

Loans taken for vehicles

0.000

12.500

Loans taken for other fixed assets

0.000

0.746

 

 

 

SHORT TERM BORROWINGS

 

 

Working capital loans from banks

865.053

672.159

Total

894.517

723.655

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Suresh C Mathur And Company

Chartered Accountants

Address :

64 Regal Building, Connaught Place, New Delhi – 110001, India

Income-tax PAN of auditor or auditor's firm :

AAAFS4173N

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Subsidiaries :

Isolloyd Engineering Technologies Limited (U24119DL2005PLC131798)

 

 

Joint Venture :

Peb Steel Lloyd (India) Limited (U27106DL2006PLC155546)

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

30000000

Equity Shares

Rs. 10/- each

Rs. 300.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

30000000

Equity Shares

Rs. 10/- each

Rs. 300.000 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

300.000

300.000

30.000

(b) Reserves & Surplus

2530.340

2452.777

2433.223

(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)

2830.340

2752.777

2463.223

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

29.464

51.496

87.491

(b) Deferred tax liabilities (Net)

0.000

0.000

1.245

(c) Other long term liabilities

0.320

0.320

0.000

(d) long-term provisions

33.753

35.420

30.001

Total Non-current Liabilities (3)

63.537

87.236

118.737

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

1084.324

721.065

467.449

(b) Trade payables

1965.850

2457.618

2412.020

(c) Other current liabilities

1127.964

1194.911

1418.887

(d) Short-term provisions

24.523

66.095

59.211

Total Current Liabilities (4)

4202.661

4439.689

4357.567

 

 

 

 

TOTAL

7096.538

7279.702

6939.527

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

581.983

624.297

671.121

(ii) Intangible Assets

7.476

4.962

8.080

(iii) Capital work-in-progress

0.000

29.216

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

219.373

232.957

246.290

(c) Deferred tax assets (net)

1.295

6.648

0.000

(d)  Long-term Loan and Advances

163.926

87.754

82.219

(e) Other Non-current assets

253.479

238.193

258.007

Total Non-Current Assets

1227.532

1224.027

1265.717

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

413.571

446.663

385.068

(c) Trade receivables

3645.613

3949.299

3562.268

(d) Cash and cash equivalents

509.521

609.731

699.374

(e) Short-term loans and advances

339.494

259.424

184.047

(f) Other current assets

960.807

790.558

843.053

Total Current Assets

5869.006

6055.675

5673.810

 

 

 

 

TOTAL

7096.538

7279.702

6939.527

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

8202.055

10107.877

10019.611

 

 

Other Income

79.006

85.216

89.683

 

 

TOTAL                                     (A)

8281.061

10193.093

10109.294

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

5341.260

6675.735

6809.556

 

 

Purchases of Stock-in-Trade

1612.490

1845.511

0.000

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(1.071)

6.894

(12.555)

 

 

Employees benefits expense

596.924

653.455

584.257

 

 

Other expenses

303.168

286.996

2032.790

 

 

TOTAL                                     (B)

7852.771

9468.591

9414.048

 

 

 

 

 

 

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

428.290

724.502

695.246

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

197.420

170.280

136.252

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

230.870

554.222

558.994

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

95.455

103.537

114.426

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

135.415

450.685

444.568

 

 

 

 

 

Less

TAX                                                                  (H)

57.853

155.608

160.781

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

77.562

295.077

283.787

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export of Goods (FOB Basis)

14.503

55.937

18.947

 

TOTAL EARNINGS

14.503

55.937

18.947

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

345.450

422.676

500.121

 

 

Stores & Spares

1.203

3.853

4.814

 

 

Capital Goods

0.000

6.758

8.620

 

TOTAL IMPORTS

346.653

433.287

513.555

 

 

 

 

 

 

Earnings Per Share (Rs.)

 

 

 

 

Basic

2.59

9.84

9.46

 

Diluted

2.59

9.84

9.46

 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

29.953

85.085

98.718

 

 

 

 

Cash Generated from Operations

NA

NA

NA

 

 

 

 

Net Cash Flow from (used in) Operations

(300.855)

(39.482)

NA

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

0.95

2.92

2.83

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

5.22

7.17

6.94

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.97

6.43

6.64

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.05

0.16

0.18

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.40

0.31

0.27

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.40

1.36

1.30

 

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

30.000

300.000

300.000

Reserves & Surplus

2433.223

2452.777

2530.340

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

2463.223

2752.777

2830.340

 

 

 

 

Long-term borrowings

87.491

51.496

29.464

Short term borrowings

467.449

721.065

1084.324

CURRENT MATURITIES OF LONG-TERM DEBTS

98.718

85.085

29.953

Total borrowings

653.658

857.646

1143.741

Debt/Equity ratio

0.265

0.312

0.404

 

 

 

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

10019.611

10107.877

8202.055

 

 

0.881

-18.855

 

 

 

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

10019.611

10107.877

8202.055

Profit

283.787

295.077

77.562

 

2.83%

2.92%

0.95%

 

 

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

Yes

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

LITIGATION DETAILS:

 

 

IN THE HIGH COURT OF DELHI AT NEW DELHI
  
  O.M.P. 742/2012
  
  M/S BHARAT HEAVY ELECTRICALS LTD ..... Petitioner
  
  Through Mr. Amitesh Gaurav, Adv.
  
versus
  
  LLOYD INSULATIONS (I) LTD..... Respondent
  
  Through Ms. Neelam Rathore, Adv. with
  
  Ms. Syed Amber Azad, Adv.
  


  CORAM:
  
   HON'BLE MR. JUSTICE MANMOHAN SINGH
  
   O R D E R
  
   13.03.2014
  
  I.A. No.407/2014 (u/s 151 CPC, directing the petitioner to pay the
  awarded amount along with interest, by respondent)
  
  Reply is not filed. However, it is stated that the reply has been
  filed in the Registry today. Copy has been given. Learned counsel
  appearing on behalf of the respondent seeks time to file the rejoinder.
  Let the same be filed within four weeks. List on 7th May, 2014.
  
   MANMOHAN SINGH, J.
  
  MARCH 13, 2014/jk
  
  $ 15

 

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10378023

04/09/2012

50,000,000.00

CITIBANK N.A

JEEVAN BHARTI BUILDING, 4TH FLOOR, 124 CONNAUGHT 
CIRCUS, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001 
, INDIA

B58662974

2

10356012

27/06/2014 *

750,000,000.00

ICICI BANK LIMITED

LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA- 390015, GUJARAT, INDIA

C09079864

3

10363527

27/06/2014 *

500,000,000.00

AXIS BANK LIMITED

2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, 
NEW DELHI, Delhi - 110001, INDIA

C18985069

4

10343532

27/06/2014 *

650,000,000.00

STATE BANK OF INDIA

INDUSTRIAL FINANCE BRANCH, JAWAHAR VYAPAR BHAWAN, 
1, TOLSTOY MARG, STC BUILDING 14th FLOOR, NEW DEL 
HI, Delhi - 110001, INDIA

C10595023

5

10165783

01/07/2009

3,426,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST 
, MUMBAI- 400013, MAHARASHTRA, INDIA

A65459554

6

10165822

01/07/2009

856,800.00

HDFC BANK LIMITED

HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL 
WEST, MUMBAI- 400013, MAHARASHTRA, INDIA

A65459752

7

10169710

27/06/2014 *

3,270,000,000.00

PUNJAB AND SIND BANK

91, BHANDARI HOUSE, NEHRU PLACE, NEW DELHI, DELHI 
- 110019, INDIA

C14612162

8

10110410

26/07/2011 *

600,000,000.00

CITIBANK N.A

JEEVAN BHARTI BUILDING, 4TH FLOOR, 124 CONNAUGHT 
CIRCUS, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001 
, INDIA

B17147208

9

80002613

10/07/2012 *

960,000,000.00

IDBI BANK LIMITED

INDIAN RED CROSS SOCIETY BUILDING, 1, RED CROSS R 
OAD, POST BAG NO. 231, NEW DELHI, DELHI - 110001, 
INDIA

B44859957

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

SHORT TERM BORROWINGS

 

 

Working capital loans from banks

219.271

48.906

Total

219.271

48.906

 

OPERATIONS REVIEW:

 

The total revenue including other income for the financial year is Rs. 8281.061 Million (Previous Year Rs. 10193.093 Million). The profit before tax is Rs. 135.415 Million (Previous Year Rs. 450.685 Million). The profit after tax is Rs 77.562 Million (Previous Year Rs. 295.077 Million).

 

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, 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. 65.63

UK Pound

1

  Rs. 101.73

Euro

1

Rs. 73.26

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

IND

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

3

--LIQUIDITY

1~10

5

--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

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

 

50

 

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.