MIRA INFORM REPORT
|
Report No. : |
342919 |
|
Report Date : |
28.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
MANGALAM ALLOYS LIMITED |
|
|
|
|
Formerly Known
As : |
MANGALAM ALLOYS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 3123-3126, GIDC, Phase III, Chhatral, District Gandhinagar –
382729, Gujarat |
|
Tel. No.: |
91-2764-232064 / 232025 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
01.08.1988 |
|
|
|
|
Com. Reg. No.: |
04-011051 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 65.951 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109GJ1988PLC011051 |
|
|
|
|
IEC No.: |
0889003076 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
AHMM01070G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM6740P |
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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 manufacturing of stainless steel ingots,
flats, rounds and bright bars. |
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|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track. As per financial of the year 2014, company has reported decent
profitability from its business operations. Further, rating also takes into account of company’s good financial
risk profile supported by adequate net worth base and favourable gap between
trade payables to its receivables. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term bank facilities BB+ (Suspended) |
|
Rating Explanation |
Inadequate-credit-quality and high credit risk. |
|
Date |
September, 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term bank facilities A4+ (Suspended) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
September, 2015 |
Reason of Suspension: Absence of requisite information.
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. Ajay Patel |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-9879110402 |
|
Date : |
24.09.2015 |
LOCATIONS
|
Registered Office / Factory : |
Plot No. 3123-3126, GIDC, Phase III, Chhatral, District Gandhinagar –
382729, Gujarat, India |
|
Tel. No.: |
91-2764-232064 / 232025 |
|
Mobile No.: |
91-9879110402 (Mr. Ajay Patel) |
|
Fax No.: |
91-2764-234361 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Uttamchand Chandanmal Mehta |
|
Designation : |
Managing Director |
|
Address : |
3, Chandramauleshwar Farm, Near Mohamadpura Bus Stop, Ambli Bopal
Road, Ahmedabad, Gujarat, India |
|
Date of Birth/Age : |
20.11.1953 |
|
Qualification : |
B.E. (Chem) |
|
Date of Appointment : |
01.07.2013 |
|
PAN No.: |
ABCPM3554A |
|
DIN No.: |
00153639 |
|
|
|
|
Name : |
Mr. Lokeshkumar Bansilal Jain |
|
Designation : |
Whole Time Director |
|
Address : |
A 2, 102, Vishwas City – I, Opposite Shayon City, R C Technical Road,
Ghatoldia, Ahmedabad, Gujarat, India |
|
Date of Birth/Age : |
05.01.1973 |
|
Qualification : |
C.A. and I.C.W.A. |
|
Date of Appointment : |
11.12.2013 |
|
PAN No.: |
ADEPJ7179J |
|
DIN No.: |
00186623 |
|
|
|
|
Name : |
Mr. Tushar Uttamchand Mehta |
|
Designation : |
Managing director |
|
Address : |
3, Chandramauleshwar Farm, Near Mohamadpura Bus Stop, Ambli Bopal
Road, Ahmedabad, Gujarat, India |
|
Date of Birth/Age : |
09.06.1987 |
|
Qualification : |
B.E. (Mech) |
|
Date of Appointment : |
01.07.2013 |
|
PAN No.: |
AMOPM6461H |
|
DIN No.: |
00187046 |
|
|
|
|
Name : |
Mr. Sobhan Sahu |
|
Designation : |
Director |
|
Address : |
C-63/Sf, Vipul World, Sector-48, Gurgaon, Gurgaon, 122018, Haryana, India |
|
Date of Appointment : |
01.04.2015 |
|
DIN No.: |
00421344 |
|
|
|
|
Name : |
Mr. Vishal Vinodkumar Gupta |
|
Designation : |
Director |
|
Address : |
A/2/32, Management Enclave, Vastrapur, Ahmedabad-380015, Gujarat, India |
|
Date of Appointment : |
25.03.2015 |
|
DIN No.: |
07181294 |
|
|
|
|
Name : |
Mr. Ghanshyambhai Kishorbhai Patel |
|
Designation : |
Director |
|
Address : |
31/32, Prabhu Nagar-2, Palanpur Patiya,, Rander Road, Surat-395009, Gujarat, India |
|
Date of Appointment : |
25.03.2015 |
|
DIN No.: |
07182770 |
KEY EXECUTIVES
|
Name : |
Mr. Ajay Patel |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 17.09.2014
|
Names of Shareholders |
No. of Shares |
|
Bhandari Pirakashchandra Chandmal |
40500 |
|
Bhandari Mankumari Prakashchandra |
31500 |
|
Bhandari Avinash Prakashchand |
22500 |
|
Bhandari Rachna Prakashchandra |
11250 |
|
Bhandari Pirakashchandra Chandmal Jointly With Avinash Bhandari and
Reema Bhandari |
18000 |
|
Bhandari Pirakashchandra C. Jointly With Mankumari Bhandari |
6750 |
|
Raval Motilal Maganlal Prop's of Rekha Enterprise |
13200 |
|
Purohit Bhanwarlal Bhurji |
4000 |
|
Mehta Tirth Uttamchand |
13700 |
|
Mehta Tushar Uttamchand |
179950 |
|
Mehta Pushpadevi Uttamchand |
608650 |
|
Mehta Uttamchand Chandanmal |
851000 |
|
Mehta Uttamchand Jointly With Pushpadevi Uttamchand |
2000 |
|
Netvision Web Technologies Limited, India |
50000 |
|
Shelja Finlease Private Limited, India |
331700 |
|
Tribhuvan Lease Finance Private Limited, India |
2364650 |
|
Ankit Ashokkumar Gupta |
10000 |
|
Ashokkumar Sonderlal Gupta |
10000 |
|
Rajesh Agrawal Jointly With Ranchna Agrawal |
20000 |
|
Archer Financial Services Private Limited, India |
312000 |
|
Grin BPO Services Private Limited, India |
237750 |
|
Green Star Financial Services Private Limited, India |
336000 |
|
Suraj Corporate Services Private Limited, India |
240000 |
|
TPL Finance Limited, India |
420000 |
|
Richgold Finance and Securities Limited, India |
380000 |
|
Dhanlaxmi Lease Finance Private Limited, India |
80000 |
|
Total
|
6595100 |
Equity Share Break up (Percentage of Total Equity)
As on 17.09.2014
|
Category |
Percentage |
|
Bodies corporate |
72.05 |
|
Directors or relatives of Directors |
25.10 |
|
Other top fifty shareholders |
2.85 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacturing of stainless steel ingots,
flats, rounds and bright bars. |
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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 : |
Stainless Steel Products |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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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) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
500 (Approximately) |
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Bankers : |
State Bank of India, Industrial Finance Branch, 1st Floor,
Neptune Tower Annexe, Opposite Gandhigram RS, Ahmedabad - 380009, Gujarat,
India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Kishan M. Mehta and Company Chartered Accountants |
|
Address : |
6th Floor, Premchand House Annexe, Old High Court Way,
Ashram Road, Ahmedabad – 380009, Gujarat, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AABFK8431G |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates : |
Tribhuvan Lease Finance Private Limited CIN No.: U65910GJ1995PTC024789 |
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Sister Concern : |
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CAPITAL STRUCTURE
As on 17.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs. 70.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6595100 |
Equity Shares |
Rs.10/- each |
Rs. 65.951
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 |
65.951 |
65.951 |
63.349 |
|
(b) Reserves & Surplus |
174.205 |
160.277 |
179.664 |
|
(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) |
240.156 |
226.228 |
243.013 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
94.847 |
59.068 |
99.681 |
|
(b) Deferred tax liabilities (Net) |
26.477 |
29.734 |
30.926 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
2.260 |
2.156 |
1.515 |
|
Total Non-current
Liabilities (3) |
123.584 |
90.958 |
132.122 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
360.064 |
352.308 |
254.469 |
|
(b) Trade
payables |
183.737 |
160.360 |
117.057 |
|
(c) Other
current liabilities |
65.664 |
68.466 |
58.920 |
|
(d) Short-term
provisions |
9.920 |
19.843 |
5.578 |
|
Total Current
Liabilities (4) |
619.385 |
600.977 |
436.024 |
|
|
|
|
|
|
TOTAL |
983.125 |
918.163 |
811.159 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
228.857 |
243.054 |
248.285 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.819 |
2.630 |
14.556 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
7.906 |
8.336 |
9.726 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8.830 |
15.577 |
5.397 |
|
(e) Other
Non-current assets |
36.025 |
36.024 |
46.519 |
|
Total Non-Current
Assets |
282.437 |
305.621 |
324.483 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
338.709 |
279.301 |
240.237 |
|
(c) Trade
receivables |
258.695 |
257.393 |
191.073 |
|
(d) Cash
and cash equivalents |
9.110 |
8.299 |
8.388 |
|
(e)
Short-term loans and advances |
82.874 |
60.056 |
37.232 |
|
(f) Other
current assets |
11.300 |
7.493 |
9.746 |
|
Total
Current Assets |
700.688 |
612.542 |
486.676 |
|
|
|
|
|
|
TOTAL |
983.125 |
918.163 |
811.159 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1392.637 |
1407.156 |
1382.902 |
|
|
|
Other Income |
11.902 |
3.451 |
12.861 |
|
|
|
TOTAL (A) |
1404.539 |
1410.607 |
1395.763 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials
Consumed |
961.646 |
949.800 |
946.758 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(58.214) |
(45.809) |
1.185 |
|
|
|
Employees benefits
expense |
52.680 |
50.707 |
41.786 |
|
|
|
Other expenses |
344.717 |
353.932 |
313.092 |
|
|
|
TOTAL (B) |
1300.829 |
1308.63 |
1302.821 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
103.710 |
101.977 |
92.942 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
51.585 |
52.457 |
41.464 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
52.125 |
49.52 |
51.478 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
31.564 |
30.535 |
27.551 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
20.561 |
18.985 |
23.927 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.633 |
(0.314) |
14.035 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
13.928 |
19.299 |
9.892 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.11 |
3.01 |
1.56 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
48.055 |
50.801 |
45.981 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
(8.261) |
(10.011) |
17.462 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin
(PAT / Sales) |
(%) |
1.00 |
1.37 |
0.72 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
7.45 |
7.25 |
6.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.11 |
2.09 |
3.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.08 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.09 |
2.04 |
1.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13 |
1.02 |
1.12 |
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 |
63.349 |
65.951 |
65.951 |
|
Reserves & Surplus |
179.664 |
160.277 |
174.205 |
|
Net
worth |
243.013 |
226.228 |
240.156 |
|
|
|
|
|
|
long-term borrowings |
99.681 |
59.068 |
94.847 |
|
Short term borrowings |
254.469 |
352.308 |
360.064 |
|
Current maturities of
long-term debts |
45.981 |
50.801 |
48.055 |
|
Total
borrowings |
400.131 |
462.177 |
502.966 |
|
Debt/Equity
ratio |
1.647 |
2.043 |
2.094 |
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 |
1382.902 |
1407.156 |
1392.637 |
|
|
|
1.754 |
-1.032 |
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 |
1382.902 |
1407.156 |
1392.637 |
|
Profit |
9.892 |
19.299 |
13.928 |
|
|
0.72% |
1.37% |
1.00% |
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 |
|
|
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 |
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
:
|
HIGH
COURT OF GUJARAT SPECIAL CIVIL APPLICATION No. 9678
of 2015
Next Listing Date: 14/10/2015
|
UNSECURED LOAN
|
PARTICULAR |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long term
borrowings |
|
|
|
Term Loans from Banks |
0.273 |
2.374 |
|
Term Loans from Others |
5.610 |
5.388 |
|
Deposits from Directors |
4.945 |
5.422 |
|
Loans and Advances from related parties |
1.071 |
0.000 |
|
Short term
borrowings |
|
|
|
Loans repayable on demand from banks |
65.217 |
62.129 |
|
Total |
77.116 |
75.313 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10516470 |
05/08/2014 |
9,800,000.00 |
RELIANCE CAPITAL LTD |
"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City,
Koparkhairne, Navi Mumbai, Maharashtra - 400710, INDIA |
C17887852 |
|
2 |
10485550 |
20/06/2014 * |
40,000,000.00 |
Small Industries Development Bank of India |
First Floor, Navjivan Amrit Jayanti Bhavan,, P.B. NO.10, Navjivan
Post Office, AHMEDABAD, Gujarat - 380014, INDIA |
C10599215 |
|
3 |
10468805 |
02/01/2014 |
45,000,000.00 |
Small Industries Development Bank of India |
First Floor, Navjivan Amrit Jayanti Bhavan,, P.B. No.10, Navjivan
Post Office,, Ahmedabad, Gujarat - 380014, INDIA |
B92972157 |
|
4 |
10192012 |
26/11/2012 * |
541,200,000.00 |
State Bank of India |
Industrial Finance Branch, 1st Floor, Neptune Tower Annexe, Opp.
Gandhigram RS, Ahmedabad, Gujarat - 380009, INDIA |
B64563257 |
|
5 |
80024379 |
26/11/2012 * |
541,200,000.00 |
State Bank of India |
Industrial Finance Branch, 1st Floor, Neptune Tower Annexe, Opp
GandhigramRs, Ahmedabad, Gujarat -380009, INDIA |
B64560402 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Factory Building
- Plant and Equipment
- Factory Equipments
- Furniture and Fixtures
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 : |
PPT |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
44 |
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.