MIRA INFORM REPORT
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Report No. : |
342986 |
|
Report Date : |
29.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
KIMBERLY-CLARK LEVER PRIVATE LIMITED |
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Formerly Known
As : |
KIMBERLY-CLARK LEVER LIMITED |
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Registered
Office : |
Gat No. 934-937, Village Sanaswadi, Taluka - Shirur, Pune – 412208,
Maharashtra |
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Tel. No.: |
91-2137-252545 to
49 / 252156 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
20.09.1994 |
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Com. Reg. No.: |
11-081290 |
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Capital
Investment / Paid-up Capital : |
Rs.794.000 Million |
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CIN No.: [Company Identification
No.] |
U74999PN1994PTC081290 |
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TIN No.: |
Not Available |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACK4647E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is
engaged in manufacturing and marketing of personal care and hygiene products.
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
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 a joint venture between Hindustan Unilever Limited and
Kimberly – Clark Corporation USA. It is an established company having moderate track. Management has registered moderate operational activity and huge accumulated
losses in the FY-14. The company has moderate financial position marked by
negative reserves position and huge borrowings taken by the company. The company receives good financial and operational support from its
joint venture entities. Trade relations are reported to be fair. Business is active. Payments
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 DENIED BY
|
Name : |
Mr. Abhijeet Bobade |
|
Designation : |
Finance Department |
|
Contact No.: |
91-9850557543 |
|
Date : |
26.09.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Gate No. 934-937,
Village Sansawadi, Taluka Shirur, District Pune – 412208, Maharashtra, India |
|
Tel. No.: |
91-2137-252545 to
49 / 252156 |
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Mobile No.: |
91-9850557543 (Mr. Abhijeet Bobade) |
|
Fax No.: |
91-2137-252533 |
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E-Mail : |
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Website : |
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Corporate
Office : |
165/166, Backbay
Reclamation, Churchgate, Mumbai – 400020, Maharashtra, India |
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Tel. No.: |
91-22-22876222 |
|
Fax No.: |
91-22-22041920 /
3117 |
DIRECTORS
As on 29.09.2014
|
Name : |
Rodney George Olsen |
|
Designation : |
Nominee Director |
|
Address : |
6607 Waggoner Drive, Dallas Texas – 75230, USA |
|
Date of Birth/Age : |
25.06.1955 |
|
Date of Appointment : |
26.06.2012 |
|
DIN No.: |
05256954 |
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|
|
|
Name : |
Ms. Achal Agarwal |
|
Designation : |
Nominee Director |
|
Address : |
Flat A 38/F, High Cliff, 41D Stubbs Road, Happy Valley, Hong Kong – WCHS56 |
|
Date of Birth/Age : |
04.08.1959 |
|
Date of Appointment : |
12.03.2012 |
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DIN No.: |
05225330 |
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|
|
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Name : |
Ms. Anita Sandeep Zusthi |
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Designation : |
Director |
|
Address : |
3 B, Champaka, Britannia Garden, Airport Road, Bangalore – 560017, Karnataka, India |
|
Date of Birth/Age : |
24.07.1971 |
|
Date of Appointment : |
17.07.2014 |
|
DIN No.: |
03534695 |
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|
|
|
Name : |
Mr. Sanjiv Soshil Mehta |
|
Designation : |
Nominee Director |
|
Address : |
Frond D, Villa #18, Palm Jumeirah, P O Box 17055, Dubai - 17055, United Arab Emirates |
|
Date of Birth/Age : |
09.07.1960 |
|
Date of Appointment : |
11.10.2013 |
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DIN No.: |
06699923 |
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|
Name : |
Ms. Priya Sukumar Nair |
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Designation : |
Additional director |
|
Address : |
1202 Raheja Atlantis, Raheja Acropolis Phase 1,, Chembur, Mumbai - 400088, Maharashtra, India |
|
Date of Appointment : |
26.03.2015 |
|
DIN No.: |
07119070 |
KEY EXECUTIVES
|
Name : |
Mr. Rahul
Tibrewal |
|
Designation : |
Company
Secretary |
|
Address : |
Lunkad Zodiac,
Viman Nagar, Pune – 411014, Maharashtra, India |
|
Date of Birth/Age : |
23.02.1986 |
|
Date of Appointment : |
04.06.2013 |
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PAN No.: |
AGQPT2786A |
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|
|
|
Name : |
Mr. Abhijeet Bobade |
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Designation : |
Finance Department |
MAJOR SHAREHOLDERS
AS ON 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Kimberly-Clark
Corporation, USA |
|
42346667 |
|
Hindustan Unilever
Limited, India |
|
42346664 |
|
Unilever India Exports Limited, India |
|
1 |
|
Ponds Exports
Limited, India |
|
1 |
|
Sridhar
Ramamurthy Jointly with Unilever India Exports Limited,
India |
|
1 |
|
Total |
|
84693334 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
50.00 |
|
Bodies corporate |
49.99 |
|
Other top fifty shareholders |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is
engaged in manufacturing and marketing of personal care and hygiene products.
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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 : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
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 denied by management |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
N. M. Raiji and
Company Chartered
Accountants |
|
Address : |
Universal
Insurance Building, Pherozeshah Mehta Road, Mumbai - 411001, Maharashtra,
India |
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Tel. No.: |
91-22-22870068 /
22873463 / 22837482 |
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Fax No.: |
91-22-22828646 /
22650578 |
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E-Mail : |
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PAN No.: |
AAAFN4217G |
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Memberships : |
-- |
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Collaborators : |
-- |
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Parties where
control exists: |
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Companies under
common control : |
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CAPITAL STRUCTURE
AS ON 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000,000 |
Equity Shares |
Rs.10/- each |
Rs.1000.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
84,693,334 |
Equity Shares |
Rs.10/- each |
Rs.846.933 Million |
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000,000 |
Equity Shares |
Rs.10/- each |
Rs.1000.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
79,400,000 |
Equity Shares |
Rs.10/- each |
Rs.794.000 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 |
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|
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|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
794.000 |
794.000 |
725.000 |
|
(b) Reserves &
Surplus |
(641.464) |
(138.173) |
(260.609) |
|
(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) |
152.536 |
655.827 |
464.391 |
|
|
|
|
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(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
168.831 |
168.831 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
4.310 |
13.715 |
19.383 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
4.139 |
|
Total Non-current
Liabilities (3) |
173.141 |
182.546 |
23.522 |
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
742.898 |
325.963 |
0.000 |
|
(b) Trade payables |
1041.382 |
928.615 |
892.676 |
|
(c) Other current
liabilities |
119.660 |
114.881 |
67.855 |
|
(d) Short-term provisions |
7.396 |
11.088 |
3.083 |
|
Total Current Liabilities
(4) |
1911.336 |
1380.547 |
963.614 |
|
|
|
|
|
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TOTAL |
2237.013 |
2218.920 |
1451.527 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
550.991 |
583.760 |
333.380 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
25.422 |
0.000 |
6.018 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
297.573 |
183.263 |
90.325 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
873.986 |
767.023 |
429.723 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
638.949 |
505.828 |
554.468 |
|
(c) Trade receivables |
96.478 |
55.594 |
57.671 |
|
(d) Cash and cash
equivalents |
207.327 |
589.745 |
311.764 |
|
(e) Short-term loans and
advances |
419.774 |
299.842 |
81.281 |
|
(f) Other current assets |
0.499 |
0.888 |
16.620 |
|
Total Current Assets |
1363.027 |
1451.897 |
1021.804 |
|
|
|
|
|
|
TOTAL |
2237.013 |
2218.920 |
1451.527 |
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
SALES |
|
|
|
|
Income |
|
|
2445.548 |
|
Other Income |
|
|
|
|
TOTAL |
3167.632 |
2363.780 |
2445.548 |
|
|
|
|
|
|
TOTAL EXPENSES |
3684.696 |
2716.211 |
2640.634 |
|
|
|
|
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|
PROFIT/ (LOSS) BEFORE TAX |
(517.063) |
(352.432) |
(195.086) |
|
|
|
|
|
|
TAX |
(13.773) |
(5.668) |
(43.319) |
|
|
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|
|
|
PROFIT/ (LOSS) AFTER TAX
|
(503.290) |
(346.764) |
(151.767) |
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
F.O.B. Value of Exports |
242.329 |
Nil |
Nil |
|
TOTAL EARNINGS |
242.329 |
Nil |
Nil |
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(6.34) |
(4.38) |
(2.09) |
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 |
(724.575) |
(475.790) |
(523.607) |
|
Net cash flows from (used in) operating activities |
(724.575) |
(475.790) |
(523.607) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(23.38) |
(15.88) |
(13.50) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(3.39) |
(0.54) |
(0.42) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
5.98 |
0.75 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.71 |
1.05 |
1.06 |
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 |
725.000 |
794.000 |
794.000 |
|
Reserves & Surplus |
(260.609) |
(138.173) |
(641.464) |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
464.391 |
655.827 |
152.536 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
168.831 |
168.831 |
|
Short term borrowings |
0.000 |
325.963 |
742.898 |
|
Total borrowings |
0.000 |
494.794 |
911.729 |
|
Debt/Equity ratio |
0.000 |
0.754 |
5.977 |
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) |
|
Total Income |
2445.548 |
2363.780 |
3167.632 |
|
|
|
(3.344) |
34.007 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Total Income |
2445.548 |
2363.780 |
3167.632 |
|
Profit/ (Loss) |
(151.767) |
(346.764) |
(503.290) |
|
|
(6.21%) |
(14.67%) |
(15.89%) |
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 |
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 |
FINANCIAL PERFORMANCE
During the year, the Company has registered:
- Total income for the year has increased by 25.37 % to Rs.3167.632 Million as against Rs.2363.780 Million during the previous year.
- The Loss after tax for the year was Rs.503.290 Million as compared to Rs.346.764 Million for the previous year.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10473641 |
02/08/2013 |
392,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
52/60,MAHATMA GANDHI ROAD, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA |
B90205238 |
|
2 |
90091756 |
12/01/2002 |
5,000,010.00 |
ABN AMRO BANK |
327; M. G. ROAD, PUNE CAMP, PUNE - 411001, MAHARASHTRA, INDIA |
- |
|
3 |
90084728 |
18/11/1997 |
70,000,000.00 |
ABN AMRO BANK N. V |
327; M. G. ROAD, PUNE CAMP, PUNE - 411001, MAHARASHTRA, INDIA |
- |
|
4 |
90084494 |
22/07/1996 |
20,000,000.00 |
ABN AMRO BANK N. V |
14, VEER NARIMAN, MUMBAI - 400023, MAHARASHTRA, INDIA |
- |
|
5 |
90084486 |
11/07/1996 |
30,000,000.00 |
BANQUE NATSONALE DE PARIS |
CG 3; KONARK ESTATES, 9; CONNAUGHT ROAD, PUNE - 411001, MAHARASHTRA, INDIA |
- |
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer Equipments
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 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.66.08 |
|
|
1 |
Rs.100.32 |
|
Euro |
1 |
Rs.73.81 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
TRS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
36 |
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
unfavorable 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.