MIRA INFORM REPORT
|
Report No. : |
342705 |
|
Report Date : |
26.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
KAIRAV CHEMO FARBE INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
502, Filix, Opposite Asian Paints, L.B.S. Marg, Bhandup (West), Mumbai – 400078, Maharashtra |
|
Tel. No.: |
91-22-25968361 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
08.12.1983 |
|
|
|
|
Com. Reg. No.: |
11-031523 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.120.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1983PLC031523 |
|
|
|
|
IEC No.: |
0304091928 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AACCK0615N |
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|
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of manufacturing chemicals such as, 1, 4 - Dioxane, 1, 3 - Dioxlane, Dibutyl Ether, Methylal, Monoglyme, Diglyme, Construction Chemicals like Ad mixture etc. and also in business of trading in Caustic soda Flaks, Potassium hydroxide, MEG, DEG. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1983 and it
is the manufacturer of specialized fine chemicals and trader in caustic soda
flaks, potassium hydroxide, etc. It has moderate track. Rating takes into consideration company’s moderate financial risk
profile marked by low reserves level during the year 2014 and increase in
external borrowings as compared to its previous year. However, trade relations are fair. Business is active. Payment terms
are reported to be slow but correct. The company can be considered for business dealings 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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 DENIEND BY
|
Name : |
Mr. Suraj |
|
Designation : |
Admin Officer |
|
Contact No.: |
91-22-27410317 |
|
Name : |
Ms. Sandhya |
|
Designation : |
Office Executive |
|
Contact No.: |
91-22-25398361 |
|
Date : |
24.09.2015 |
LOCATIONS
|
Registered Office / Corporate Office / Sales Office : |
502, Filix, Opposite Asian Paints, L.B.S. Marg, Bhandup (West), Mumbai – 400078, Maharashtra, India |
|
Tel. No.: |
91-22-22010930 / 22010935 / 25968361 / 62 / 25962453 / 25962457 |
|
Fax No.: |
91-22-22010918 / 29538586 |
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E-Mail : |
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|
Website : |
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|
Area : |
1500 Sq. ft. |
|
|
|
|
Factory : |
J77, MIDC, Taloja, Maharashtra, India |
|
Area : |
4800 Mtr. |
|
Location: |
Owned |
|
|
|
|
Hyderabad Regional Office : |
H. No. 4-9-164, Plot No. 232, Street No. 6, HMT Nagar,
Nacharam, |
|
Tel No. : |
91-40-27172029 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Arun Mohanlal Doshi |
|
Designation : |
Whole Time Director |
|
Address : |
13, Yogniti, 18, S.V. Road, Santacruz (West), Mumbai-400054, Maharashtra, India |
|
Date of Birth/Age : |
21.07.1946 |
|
Date of Appointment : |
08.12.1983 |
|
Din No.: |
00786570 |
|
|
|
|
Name : |
Mrs. Aarti Arun Doshi |
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Designation : |
Director |
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Address : |
13, Yogniti, 18, S.V. Road, Santacruz (West), Mumbai-400054, Maharashtra, India |
|
Date of Birth/Age : |
16.07.1949 |
|
Date of Appointment : |
08.12.1988 |
|
Din No.: |
01739520 |
|
|
|
|
Name : |
Mr. Virendra Jayantilal Sutaria |
|
Designation : |
Director |
|
Address : |
801-B, Devraj, E/27, Opposite NRI Tower, Judges Bunglow Road, Ahmedabad-380059, Gujarat India |
|
Date of Birth/Age : |
16.09.1946 |
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Date of Appointment : |
25.02.2002 |
|
Din No.: |
02269189 |
|
|
|
|
Name : |
Mr. Vishwas Gopal Navare |
|
Designation : |
Director |
|
Address : |
Flat No. 41, Tarangan Tower, 1, Cadbury Compound, Pokhran-1, Thane-400606, Maharashtra, India |
|
Date of Birth/Age : |
14.09.1953 |
|
Date of Appointment : |
01.10.2008 |
|
Din No.: |
02134013 |
|
|
|
|
Name : |
Mr. Kairav Arunkumar Doshi |
|
Designation : |
Director |
|
Address : |
13, Yogniti, 18, S.V. Road, Santacruz (West), Mumbai-400054, Maharashtra, India |
|
Date of Birth/Age : |
19.07.1982 |
|
Date of Appointment : |
01.10.2008 |
|
Din No.: |
02345096 |
|
|
|
|
Name : |
Mr. Aditya Sunil Pattani |
|
Designation : |
Additional Director |
|
Address : |
408, Laram Centre Building, B 2, 3rd Floor, 24, S V Road, Andheri (West), Mumbai - 400058, Maharashtra, India |
|
Date of Appointment : |
15.10.2014 |
|
Din No.: |
06540774 |
KEY EXECUTIVES
|
Name : |
Mr. Suraj |
|
Designation : |
Admin Officer |
|
Name : |
Ms. Sandhya |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Arun Mohanlal Doshi |
|
7161930 |
|
Aarti Arun Doshi |
|
2345860 |
|
Dhansukh Mohanlal Doshi |
|
202 |
|
Ashwin Mohanlal Doshi |
|
202 |
|
Dhaval Arun Doshi |
|
164302 |
|
Jalpa Arun Doshi |
|
50002 |
|
Kairav Arun Doshi |
|
2267500 |
|
Rajnikant N. Kanakia |
|
1 |
|
Virendra Jayantilal Sutaria |
|
10001 |
|
|
|
|
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TOTAL
|
|
12000000 |
AS ON 30.09.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing chemicals such as, 1, 4 - Dioxane, 1, 3 - Dioxlane, Dibutyl Ether, Methylal, Monoglyme, Diglyme, Construction Chemicals like Ad mixture etc. and also in business of trading in Caustic soda Flaks, Potassium hydroxide, MEG, DEG. |
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Product/
Services: |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
Mehta Bharat and Associates Chartered Accountants |
|
Address : |
16, Vasant Niwas, Nehru Road, Vile Parle (East), Mumbai-400057,
Maharashtra, India |
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PAN No: |
AAEPM6603R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
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CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Million |
|
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|
|
|
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 |
120.000 |
120.000 |
100.000 |
|
(b) Reserves & Surplus |
101.575 |
74.112 |
47.603 |
|
(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) |
221.575 |
194.112 |
147.603 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
98.950 |
49.372 |
29.642 |
|
(b) Deferred tax liabilities
(Net) |
21.663 |
6.988 |
5.450 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
120.613 |
56.360 |
35.092 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
276.890 |
252.074 |
177.818 |
|
(b) Trade payables |
176.743 |
85.958 |
82.373 |
|
(c) Other current liabilities |
13.082 |
10.344 |
3.523 |
|
(d) Short-term provisions |
29.515 |
17.633 |
11.687 |
|
Total
Current Liabilities (4) |
496.230 |
366.009 |
275.401 |
|
|
|
|
|
|
TOTAL |
838.418 |
616.481 |
458.096 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
160.767 |
114.629 |
96.554 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.656 |
6.046 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.097 |
0.097 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
161.520 |
120.772 |
96.554 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
304.577 |
197.503 |
145.372 |
|
(c) Trade receivables |
220.167 |
200.284 |
167.760 |
|
(d) Cash and cash equivalents |
53.345 |
32.869 |
12.840 |
|
(e) Short-term loans and
advances |
98.808 |
65.051 |
35.567 |
|
(f) Other current assets |
0.001 |
0.002 |
0.003 |
|
Total
Current Assets |
676.898 |
495.709 |
361.542 |
|
|
|
|
|
|
TOTAL |
838.418 |
616.481 |
458.096 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1350.391 |
1267.541 |
1021.580 |
|
|
Other Income |
0.951 |
8.498 |
3.133 |
|
|
TOTAL
(A) |
1351.342 |
1276.039 |
1024.713 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1049.548 |
1005.119 |
789.590 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(78.657) |
(62.712) |
(20.437) |
|
|
Employees benefits expense |
29.742 |
24.036 |
10.103 |
|
|
Other expenses |
227.596 |
222.316 |
174.887 |
|
|
TOTAL
(B) |
1228.229 |
1188.759 |
954.143 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
123.113 |
87.280 |
70.570 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
52.866 |
32.900 |
28.947 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
70.247 |
54.380 |
41.623 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
16.923 |
12.800 |
10.560 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
53.324 |
41.580 |
31.063 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
25.862 |
15.071 |
11.013 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
27.462 |
26.509 |
20.050 |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
74.112 |
47.603 |
27.552 |
|
|
|
|
|
|
|
|
BALANCE
CARRIED TO THE B/S |
101.574 |
74.112 |
47.603 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
205.957 |
134.595 |
NA |
|
|
|
|
|
|
|
|
CIF
Value of Imports |
144.540 |
116.589 |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
2.29 |
2.21 |
2.01 |
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 flows from (used in) operations |
69.805 |
(14.406) |
(51.526) |
|
Net cash flows from (used in) operating activities |
53.996 |
(25.710) |
(55.485) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
2.03 |
2.09 |
1.96 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
9.12 |
6.89 |
6.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.37 |
6.81 |
6.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.21 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.70 |
1.55 |
1.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36 |
1.35 |
1.31 |
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 |
100.000 |
120.000 |
120.000 |
|
Reserves & Surplus |
47.603 |
74.112 |
101.575 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
147.603 |
194.112 |
221.575 |
|
|
|
|
|
|
long-term borrowings |
29.642 |
49.372 |
98.950 |
|
Short term borrowings |
177.818 |
252.074 |
276.890 |
|
Total borrowings |
207.460 |
301.446 |
375.840 |
|
Debt/Equity ratio |
1.406 |
1.553 |
1.696 |
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 |
1021.580 |
1267.541 |
1350.391 |
|
|
|
24.077 |
6.536 |
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 |
1021.580 |
1267.541 |
1350.391 |
|
Profit |
20.050 |
26.509 |
27.462 |
|
|
1.96% |
2.09% |
2.03% |
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) |
No |
|
16 |
No. of employees |
No |
|
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
BACKGROUD
The company is engaged in the business of manufacturing chemicals such as, 1,4 - Dioxane, 1,3 - Dioxlane, Dibutyl Ether, Methylal, Monoglyme, Diglyme, Construction Chemicals like Ad mixture etc. at the factory situated at J77 and V22, MIDC, Taloja, Maharashtra and also in business of trading in Caustic soda Flaks, Potassium hydroxide, MEG, DEG.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Loan and advances from others |
64.896 |
17.507 |
|
|
|
|
|
Total |
64.896 |
17.507 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10583102 |
21/03/2015 |
27,500,000.00 |
STANDARD CHARTERED BANK |
SME CREDIT, CRESCENZO, 3A/F, PLOT NO. C-38 AND 39, |
C60334455 |
|
2 |
10583104 |
21/03/2015 |
25,000,000.00 |
STANDARD CHARTERED BANK |
SME CREDIT, CRESCENZO, 3A/F, PLOT NO. C-38 AND 39, |
C60336575 |
|
3 |
10583108 |
21/03/2015 |
165,000,000.00 |
STANDARD CHARTERED BANK |
SME CREDIT, CRESCENZO, 3A/F, PLOT NO. C-38 AND 39, |
C60337425 |
|
4 |
10542714 |
02/01/2015 |
7,949,980.00 |
RELIANCE CAPITAL LTD |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI 400710, MAHARASHTRA, INDIA |
C40299075 |
|
5 |
10526621 |
01/09/2014 |
9,524,308.00 |
RELIANCE CAPITAL LTD |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI 400710, MAHARASHTRA, INDIA |
C30259832 |
|
6 |
10442585 |
08/04/2014 * |
83,200,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
INDIA AREA MANAGEMENT OFFICE, 52/60, MAHATMA GANDHI ROAD, P O BOX 128, FORT, MUMBAI 400001, MAHARASHTRA, INDIA |
C24496077 |
|
7 |
10387396 |
08/11/2012 |
20,000,000.00 |
AXIS BANK LIMITED |
CORPROATE BANKING BRANCH, AXIS HOUSE, GR FLOOR, BOMBAY DYING MILL COMPOUND,P.B. MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B62302682 |
|
8 |
10322516 |
10/01/2014 * |
437,000,000.00 |
AXIS BANK LIMITED |
GROUND FLOOR, AXIS HOUSE, BOMBAY DYEING MILLS COMPOUND, P B MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B94666005 |
|
9 |
10285072 |
30/03/2011 |
17,500,000.00 |
AXIS BANK LIMITED |
DHIRAJ BAUG, LBS MARG, NEAR HARINIWAS CIRCLE, THANE (WEST), MUMBAI - 400602, MAHARASHTRA, INDIA |
B12004578 |
|
10 |
10285073 |
30/03/2011 |
18,000,000.00 |
AXIS BANK LIMITED |
DHIRAJ BAUG, LBS MARG, NEAR HARINIWAS CIRCLE, THANE (WEST), MUMBAI - 400602, MAHARASHTRA, INDIA |
B12005013 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Factory building
- Plant and equipment
- Furniture and fixtures
- Vehicles
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 records 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.66.09 |
|
|
1 |
Rs.100.88 |
|
Euro |
1 |
Rs.73.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
27 |
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.