MIRA INFORM REPORT

 

 

Report No. :

343000

Report Date :

29.09.2015

 

IDENTIFICATION DETAILS

 

Name :

SCHREIBER DYNAMIX DAIRIES PRIVATE LIMITED (w.e.f. 21.05.2015)

 

 

Formerly Known As :

SCHREIBER DYNAMIX DAIRIES LIMITED (w.e.f. 03.11.2006)

 

DYNAMIX  DAIRY  INDUSTRIES LIMITED (w.e.f. 03.02.1994)

 

CONWOOD FOOD INDUSTRIES LIMITED

 

 

Registered Office :

A-306/307, Dynasty Business Park, 58 Andheri Kurla Road, Andheri (East), Mumbai – 400 059, Maharashtra

Tel. No.:

91-22-67711900/ 903 / 28402304/67711901/67711908

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

11.05.1992

 

 

Com. Reg. No.:

11-066700

 

 

Capital Investment / Paid-up Capital :

Rs.950.962 Million

 

 

CIN No.:

[Company Identification No.]

U99999MH1992PTC066700

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMD09903F

 

 

PAN No.:

[Permanent Account No.]

AAACD3743J

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer, Exporter and Importers of all Dairy Products.

 

 

No. of Employees :

200 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (68)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a subsidiary of ‘Schreiber International Inc.’ it is a manufacturer, exporter and importer of dairy products.

 

For the financial year ended 2014, company has reported 16.16% sales turnover growth as compared to previous sales turnover and it has maintained satisfactory profitability margins at 2.38% during the year under a review.

 

Rating takes into consideration its healthy financial profile marked by low gearing and strong debt protection metrics. Company also receives strong financial and managerial support from its holding company.

 

However, rating strengths are partially offset by the risks intrinsic to dairy processing industries including volatility in milk procurement prices and susceptibility to adverse regulatory changes.

 

Trade relations are reported as fair. Payments are reported to be regular and as per commitment.

 

 In view of aforesaid, the company can be considered good 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

CRISIL

Rating

Long Term Rating = AA-

Rating Explanation

High degree of safety and very low credit risk.

Date

30.09.2014

 

Rating Agency Name

CRISIL

Rating

Short Term Rating = A1+

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

30.09.2014

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2015.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Saneep Kamat 

Designation :

Finance Manager

Contact No.:

91-22-67711900

Date :

28.09.2015

 

 

LOCATIONS

 

Registered Office :

A-306/307, Dynasty Business Park, 58 Andheri Kurla Road, Andheri (East), Mumbai – 400 059, Maharashtra, India

Tel. No.:

91-22-67711900/ 903 / 28402304/67711901/67711908

Fax No.:

91-22-67711910/67711911

E-Mail :

praveen.heda@schreiberfoods.com

hemant.kothari@schreiberfoods.com

info@dynamixdairy.com

jay.sharma@schreiberfoods.com

Website :

www.schreiberfoods.com

Area :

5000 sq. ft.

Location :

Owned

Locality:

Commercial

 

 

Factory :

E-94, MIDC, Bhigwan Road, Baramati, District Pune – 413 133, Maharashtra, India

Tel. No.:

91-2112-243821/ 22/ 23/ 24

Fax No.:

91-2112-243710/ 243707

Area :

2 acres

Location :

Owned

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Krishna Murari Goenka

Designation :

Director

Address :

51 A, Shruti Yashodhamgen AK Vaidya Marg, Goregaon East, Mumbai – 400063, Maharashtra, India

Date of Birth/Age :

06.12.1936

Qualification :

B.Com

Date of Appointment :

11.05.1992

Passport No.:

AFLPG2767G

DIN No.:

00029591

 

 

Name :

Mr. Amitabha Ray

Designation :

Managing Director

Address :

82, Trishul, 3rd Cross Road Lokhandwala Complex, Andheri (West), Mumbai – 400 058, Maharashtra, India

Date of Birth/Age :

23.08.1949

Qualification :

23.08.1949

Experience :

B.E.(Elect); PG in Control Engineering

Date of Appointment :

18.11.2011

PAN No.:

AABPR0328P

DIN No.:

00082806

 

 

Name :

Mr. Gobind Kaliandas Dryanani

Designation :

Director

Address :

Flat No. 24, 2nd Floor, Chitrakut Building, Altamount Road, Mumbai – 400 026, Maharashtra, India

Date of Birth/Age :

13.08.1933

Qualification :

Matriculation

Date of Appointment :

24.06.2005

DIN No.:

00324867

 

 

Name :

Ms. Sunita Goenka

Designation :

Director

Address :

33-34,Shruti Apartment, Yashodham,, Gen. A. K. Vaidya Marg, Goregaon (East), Mumbai - 400063, Maharashtra, India

Date of Appointment :

07.02.2014

DIN No.:

01010145

 

 

Name :

Mr. William Frederick Ransom Knight

Designation :

Director

Address :

1694 Cady Lane, De Pere, Wisconsin - 54115,  United States Of America

Date of Appointment :

07.02.2014

DIN No.:

01759923

 

 

Name :

Mr. Francois Salamon

Designation :

83 Boulevard De Courcelles 75008 Paris O8 Paris - 75008

Address :

Director

Date of Birth/Age :

23.07.2013

Date of Appointment :

18.07.2013

DIN No.:

06404133

 

 

Name :

Mr. Jerome Edward Smyth

Designation :

Additional Director

Address :

2342 Old Plank Rd, De Pere Wisconsin, 54115, , United States Of America

Date of Appointment :

11.11.2014

DIN No.:

07014857

 

 

Name :

Mr. Leon Angel Verdes

Designation :

Alternate Director

Address :

B 904, Raja Tower, Asha Nagar-I CHS. Limited, Opposite P. K. Road, Mulund (West), Mumbai - 400080, Maharashtra, India

Date of Appointment :

06.06.2015

DIN No.:

07203284

 

 

KEY EXECUTIVES

 

Name :

Mr. Jay Prakash Sharma

Designation :

Company Secretary

Address :

Flat No. 302, Silver Tower, Thakur Complex, Kandivali (East), Mumbai – 400 101, Maharashtra, India

Date of Birth/Age :

01.07.1976

Date of Appointment :

02.05.2012

PAN No.:

BKAPS2421Q

 

 

Name :

Mr. Saneep Kamat 

Designation :

Assistant Finance Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

SHAREHOLDINGS DETAILS FILES ATTACHED

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2014

 

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

52.43

Directors or relatives of Directors

46.42

Other

1.15

Total

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Importers of all Dairy Products.

 

 

Products :
  • Dairy Products

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Dairy Products

Countries :
  • Srilanka
  • Singapore
  • USA

 

 

Imports :

 

Products :

Raw Material

Countries :
  • USA

 

 

Terms :

 

Selling :

Cash, L/C, Cheque and Credit

 

 

Purchasing :

Cash, L/C, Cheque and Credit

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Wholesalers and End Users

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

200 (Approximately)

 

 

Bankers :

Bank Name

State Bank of India

Branch

MIDC, Andheri (East), Mumbai - 400093, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

91-22-28380058

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

  • Yes Bank Limited, 9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India

             Tel. No.: 91-22-66699000

  • State Bank of India, Deccan Gymkhana Branch, 2nd Floor, PMT Building, Pune - 413102, Maharashtra, India

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Borrowings from foreign companies

721.066

0.000

 

 

 

Short-term borrowings

 

 

Rupee term loans from banks

242.626

436.913

 

 

 

Total

963.692

436.913

 

 

 

Financial Institution :

Rabo India Finance Private Limited, Charanjit Rai Marg, Fort, Mumbai - 400001, Maharashtra, India

 

 

Auditors :

 

Name :

S.R. Batliboi and Company LLP

Chartered Accountants

Address :

22,Camac Street, Block C, 3rd Floor, Kolkatta-700016, West Bengal, India

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

ABSFS4151K

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Ultimate Holding company:
  • Schreiber Foods Inc United, States

 

 

Holding company:
  • Schreiber International Inc United, States

 

 

Fellow Subsidiary company:
  • GBM Green Bay Machinery Company Inc, United States
  • Schreiber and Rupp GMBH, United States

 

 

Associate:
  • Conwood Construction and Developers Private Limited, India (U70100MH1979PTC020933)
  • Dania Oro Jewellery Private Limited, India (U36100MH2005PTC156430)
  • Dlecta Foods Private Limited, India (U51900MH1982PTC027524)
  • Dynamix Chains Manufacturing Private Limited, India (U36911MH2007PTC175044)
  • Lily Jewellery Private Limited, India (U36911MH2004PTC144344)
  • Rolly Jewellery Private Limited, India (U36910MH2005PTC150740)
  • Say India Jewellers Private Limited, India (U36910MH1995PTC088038)
  • Yash Jewellery Private Limited, India (U27205MH2006PTC165520)
  • Sahyadri Agro and Dairy Limited, India (U01403PN2010PLC149866)
  • Sahyadri Cow Farms Limited India (U01110PN1994PLC132478)

 

 

 

CAPITAL STRUCTURE

 

As on 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

120000000

Equity Shares

Rs.10/- each

Rs.1200.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

95096200

Equity Shares

Rs.10/- each

Rs.950.962 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

950.962

950.962

950.962

(b) Reserves & Surplus

2571.536

2266.412

1894.131

(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)

3522.498

3217.374

2845.093

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

721.066

0.000

0.000

(b) Deferred tax liabilities (Net)

171.436

157.230

180.856

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

1.141

1.982

107.135

Total Non-current Liabilities (3)

893.643

159.212

287.991

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

242.626

436.913

54.727

(b) Trade payables

890.116

702.074

694.001

(c) Other current liabilities

342.162

234.248

320.945

(d) Short-term provisions

139.805

178.458

54.332

Total Current Liabilities (4)

1614.709

1551.693

1124.005

 

 

 

 

TOTAL

6030.850

4928.279

4257.089

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1835.778

1571.993

1705.589

(ii) Intangible Assets

0.362

0.381

9.729

(iii) Capital work-in-progress

866.986

140.039

45.666

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.820

0.820

0.820

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

125.652

252.592

66.041

(e) Other Non-current assets

9.204

8.595

5.761

Total Non-Current Assets

2838.802

1974.420

1833.606

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

1643.712

1712.811

1656.401

(c) Trade receivables

916.546

740.141

456.183

(d) Cash and cash equivalents

253.574

312.282

234.774

(e) Short-term loans and advances

144.461

133.499

66.182

(f) Other current assets

233.755

55.126

9.943

Total Current Assets

3192.048

2953.859

2423.483

 

 

 

 

TOTAL

6030.850

4928.279

4257.089

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

12808.905

11026.548

10373.343

 

Other Income

124.073

98.734

15.307

 

TOTAL (A)

12932.978

11125.282

10388.650

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

10087.000

8152.711

8280.335

 

Purchases of Stock-in-Trade

154.477

155.139

164.561

 

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

(47.602)

172.271

(404.005)

 

Employees benefits expense

544.673

484.855

406.981

 

Other expenses

1463.500

1345.595

1189.842

 

TOTAL (B)

12202.048

10310.571

9637.714

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

730.930

814.711

750.936

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

6.709

18.164

5.055

 

 

 

 

 

 

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

724.221

796.547

745.881

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

255.277

239.450

234.253

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

468.944

557.097

511.628

 

 

 

 

 

Less

TAX (H)

163.820

184.816

167.214

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

305.124

372.281

344.414

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD  (K)

1874.694

1502.413

1157.999

 

 

 

 

 

 

Balance Carried to the B/S (J+K+L-M)

2179.818

1874.694

1502.413

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

NA

1548.997

214.233

 

TOTAL EARNINGS

NA

1548.997

214.233

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

NA

781.458

486.752

 

Components and Stores parts

NA

160.125

35.508

 

Capital Goods

NA

0.153

0.000

 

TOTAL IMPORTS

NA

941.736

522.260

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

3.21

3.91

3.62

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

13500.000

 

 

 

 

 

 

The above information has been parted by Mr. Sandeep Kamat (Finance Manager)

 

 

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 flow from operating activity

455.398

(2.194)

441.306

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

2.38

3.38

3.32

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

5.71

7.39

7.24

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

9.08

11.64

12.15

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.13

0.17

0.18

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.27

0.14

0.02

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.98

1.90

2.16

 

 

 

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

950.962

950.962

950.962

Reserves & Surplus

1894.131

2266.412

2571.536

Net worth

2845.093

3217.374

3522.498

long-term borrowings

0.000

0.000

721.066

Short term borrowings

54.727

436.913

242.626

Total borrowings

54.727

436.913

963.692

Debt/Equity ratio

0.019

0.136

0.274

 

 

 

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

10373.343

11026.548

12808.905

 

 

6.297

16.164

 

 

 

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

10373.343

11026.548

12808.905

Profit

344.414

372.281

305.124

 

3.32%

3.38%

2.38%

 

 

 

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

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

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

Note: The registered office of the company has been shifted from Conwood House, Yashodhama K Vaidya Marg, Goregaon (East), Mumbai, Maharashtra, India to present address w.e.f. 25.09.2006

 

PERFORMANCE AND PROSPECTS

 

During the year, the Company was able to improve its sales performance. The net sales for the year 2013-14 stood at INR 12808.900 Million as against INR 11026.500 Million in previous year. The Company achieved the export turnover of INR 2188.300Million, representing an increase of 40% over that of the previous year.

 

However the significant inflation in prices of milk and raw material laid tremendous pressure on the margins of the business and adversely affected the performance of the Company.

 

To continue with the Company’s focus on development of its own milk collection from the villages, the Company installed 50 new bulk milk coolers in surrounding villages. This is also in line with the Company’s commitment towards economic and social prosperity of the dairy farmers.

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10540335

08/10/2014

716,298,000.00

RABO INDIA FINANCE LIMITED

GF/A-03 B, GROUND FLOOR, BUILDING NO. 9, TOWER A 
, DLF CYBER CITY, PHASE-III, GURGAON, Haryana - 12 
2002, INDIA

C39064829

2

10504854

28/05/2014

100,000,000.00

HDFC BANK LIMITED

KAMALA MILLS COMPOUND, SENAPATI BAPAT MARG LOWER 
PAREL, MUMBAI, Maharashtra - 400013, INDIA

C08035198

3

10428712

07/05/2013

250,000,000.00

Rabobank International (Cooperative Centrale Raiffeisen-Boerenleenbank B.A.)

FORBES BUILDING, 2ND FLOOR, CHARANJIT RAI MARG, FORT, MUMBAI, Maharashtra - 400001, INDIA

B76101161

4

10375093

26/06/2014 *

100,000,000.00

YES BANK LIMITED

Nehru Centre, 9th floor, Discovery of India, Dr. Annie Bessant Road, Worli, Mumbai, Maharashtra - 4 
00018, INDIA

C16622458

5

10091333

20/03/2008 *

762,800,000.00

State Bank of India

Deccan Gymkhana Branch, 2nd Floor, PMT Building, 
Pune, Maharashtra - 413102, INDIA

A41540006

6

90353336

07/10/2004

350,000,000.00

ORIENTAL BANK OF COMMERCE

JASH CHAMBER, SIR P.M. ROAD; FORT, MUMBAI, Maharashtra, INDIA

-

7

90357517

08/07/1999

7,150,000.00

BLOBAL TRUST BANK LTD.

SHREEJEE CHAMBERS; TATA ROAD, NO.2 OPERA HOUSE, MUMBAI, Maharashtra, INDIA

-

 

 

FIXED ASSETS

 

  • Land
  • Building
  • Plant and equipment
  • Vehicles
  • Furniture and fixtures
  • Plant and Machinery
  • Computer
  • Vehicles
  • Furniture and Fixture
  • Computer software

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                                       None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.08

UK Pound

1

Rs.100.31

Euro

1

Rs.73.81

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

SUD

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

7

OPERATING SCALE

1~10

8

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

8

--PROFITABILITY

1~10

7

--LIQUIDITY

1~10

7

--LEVERAGE

1~10

8

--RESERVES

1~10

8

--CREDIT LINES

1~10

8

--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

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

 

68

 

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.