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|
MIRA INFORM REPORT
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Report No. : |
492093 |
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Report Date : |
15.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
MONTEX GLASS FIBRE INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
2/19-20, Bombay Mutual Annexe, Rustom Sidhwa Marg, Mumbai-400001,
Maharashtra |
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Tel. No.: |
91-22-22663502 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
17.02.1976 |
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Com. Reg. No.: |
11-018819 |
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Capital
Investment / Paid-up Capital : |
INR 49.950 Million |
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CIN No.: [Company Identification
No.] |
U26109MH1976PTC018819 |
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IEC No.: |
Not Divulged |
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GSTIN : |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCM9322K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Glass Fiber. [Registered Activity] |
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No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1976 and it
is having good track records. For the financial year 2017, the company has increased in its revenue
from operation as compared to previous year but maintained average
profitability margin of 4.75%. Rating takes into consideration sound financial profile of the company
marked by adequate networth base and low debt balance sheet. Further, rating also reflects from its established track records
business operations and improvement in the revenue as well as profitability
profile during the year. Trade relations are reported as fair. Business is active. Payments
terms are seem to be regular. In view of the aforesaid, 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
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial Reconstruction)
list as of 15.02.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED BY
|
Name : |
Mr. Ashish Kaushik |
|
Designation : |
Director |
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Contact No.: |
91-22-22663502 |
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Date : |
13.02.2018 |
LOCATIONS
|
Registered Office : |
2/19-20, Bombay Mutual Annexe, Rustom Sidhwa Marg, Mumbai-400001,
Maharashtra, India |
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Tel. No.: |
91-22-22663502 / 22661161 / 22620537 |
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Fax No.: |
91-22-22662164 |
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E-Mail : |
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Website : |
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Branch Office : |
E-76, MIDC, Ambad Industrial Area, Nashik - 422010, Maharashtra, India |
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Tel. No.: |
91-253-2382555/2383624 |
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Fax No.: |
91-253-2385482 |
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E-Mail : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Ashish Kaushik |
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Designation : |
Managing Director |
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Address : |
Plot No.8/9, Shiv Bunglow, Ashwin Sec, Ashwin Nagar Cidko, Nashik, Cidco Colony, Nashik-422009, Maharashtra, India |
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Date of Birth/Age : |
12.04.1966 |
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Date of Appointment : |
01.10.1984 |
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DIN No.: |
00279009 |
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Name : |
Mr. Jagdish Kaushik |
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Designation : |
Director |
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Address : |
Opposite Powai Lake, Eden 3 C-702, Hiranandani Garden, Adi Shankaracharya Marg, Powai Iit S.O., Mumbai-400076, Maharashtra, India |
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Date of Birth/Age : |
14.07.1938 |
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Date of Appointment : |
01.04.1976 |
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DIN No.: |
00120489 |
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Name : |
Ms. Jyoti Ashish Kaushik |
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Designation : |
Additional Director |
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Address : |
Plot No.8/9, Shiv Bunglow, Ashwin Sec, Ashwin Nagar Cidko, Nashik, Cidco Colony, Nashik-422009, Maharashtra, India |
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Date of Birth/Age : |
07.12.1968 |
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Date of Appointment : |
13.10.2017 |
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DIN No.: |
07599719 |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Ashish Kaushik |
4222000 |
84.52 |
|
Jyoti Kaushik |
773000 |
15.48 |
|
Total |
4995000 |
100.00 |
AS ON 29.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters - Individual/Hindu Undivided Family – Indian |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Glass Fiber. [Registered Activity] |
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Products / 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 denied by the management |
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Bankers : |
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Facilities : |
Note: LONG TERM BORROWINGS (i) Term Loan from HDFC Bank is Secured against Plant and Machinery, Equipment Purchased Out Of Loan and Also Against Equitable Mortgage Of Factory land and Building located at plot no. E 76, Addl Nasik Industrial Area, Ambad Taluka ,District Nasik (the mortgaged property ) along with the Personal Guarantee of Director's (Mr. A Kaushik & Mrs. J Kaushik). The Interest rate of the same is 10.25% and repayable in 5 years starting from April, 2015. (ii) Vehicle Loan from HDFC Bank is Secured against Motor Car. The Interest rate of the same is 11.25% and repayable with monthly Installments. (iii) Vehicle Loan from Axis Bank against Truck is secured against specific vehicle Interest Rate of the same is 9.50% and Repayable with monthly Installments. (iv) Vehicle Loan from Cholamandahm Investment and Finance Company Limited. against Truck is secured against specific vehicle. Interest Rate of the same is 6.67% and Repayable with monthly Installments. (v) Sales Tax Deferment Loan (Interest Free) is Repayable with Yearly Installment. (vi) Term Loam from HSBC Bank is Secured against First Pari- Passu Charge on Plant and Machinery, Equipment Purchased Out Of Loan and Also Against Equitable Mortgage Of Factory land and Building located at plot no. E 76, Add1 Nasik Industrial Area, Ambad Taluka, District Nasik (the mortgaged property) along with the Personal Guarantee of Director's (Mr. A Kaushik and Mr. J Kaushik). The Interest rate of the same is 1125% and repayable in 3.5 years starting from August, 2016. SHORT TERM BORROWINGS (i) Cash credit facility availed from HDFC Bank is secured against Hypothecation by way of first and exclusive charge as Paripassu with citi Bank on all present and future stocks and Book-Debts of Company and Also Against Equitable Mortgage Of Factory land and Building located at plot no. E 76, Add1 Nasik Industrial Area, Ambad Taluka, District Nasik (the mortgaged property) along with the Personal Guarantee of Director's (Mr. A Kaushik and Mrs. J Kaushik). (ii) PCFC facility availed horn Citi Bank for the limits INR 90.000 million secured as first and exclusive charge as Paripassu with HDFC Bank on all present and future stocks and Book-Debts of company and also against equitable mortgage of factory land and building, Plant and Machinery located at plot no. E 76, Addl Nashik Industrial Area, Ambad Taluka, District Nashik (the mortgage property) along with the personal guarantee of director’s (Mr. A Kaushik and Mrs. J. Kaushik) |
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Auditors : |
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Name : |
M. L. Sharma and Company Chartered Accountants |
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Address : |
107, 1st Floor, Chartered House, 297/299, Dr. Cawasji Hormashi Street,
Marine Line, Mumbai-400002, Maharashtra, India |
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Tel. No.: |
91-22-22010808 / 22011010 |
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Fax No.: |
91-22-22011414 |
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E-Mail : |
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PAN No.: |
AAAFM5600N |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Other related parties : |
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CAPITAL STRUCTURE
AS ON 29.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
5000000 |
Equity Shares |
INR 10/- each |
INR 50.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
4995000 |
Equity Shares |
INR 10/- each |
INR 49.950 Million |
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FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
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|
I.
EQUITY AND LIABILITIES |
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|
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|
(1)Shareholders' Funds |
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|
|
|
(a) Share Capital |
49.950 |
49.950 |
49.950 |
|
(b) Reserves &
Surplus |
142.292 |
110.411 |
89.712 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
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|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
192.242 |
160.361 |
139.662 |
|
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|
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|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
40.781 |
29.668 |
25.829 |
|
(b) Deferred tax
liabilities (Net) |
9.889 |
9.808 |
6.354 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
2.011 |
1.401 |
1.494 |
|
Total Non-current
Liabilities (3) |
52.681 |
40.877 |
33.677 |
|
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|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
137.399 |
95.020 |
86.791 |
|
(b) Trade payables |
39.370 |
35.263 |
42.051 |
|
(c) Other current
liabilities |
71.601 |
42.044 |
40.519 |
|
(d) Short-term provisions |
4.581 |
4.450 |
10.907 |
|
Total Current Liabilities
(4) |
252.951 |
176.777 |
180.268 |
|
|
|
|
|
|
TOTAL |
497.874 |
378.015 |
353.607 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
148.060 |
119.409 |
118.141 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
7.496 |
0.000 |
0.000 |
|
(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) |
0.675 |
0.691 |
0.517 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current
assets |
6.897 |
5.203 |
4.852 |
|
Total Non-Current Assets |
163.128 |
125.303 |
123.510 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
143.623 |
118.498 |
118.498 |
|
(c) Trade receivables |
134.900 |
84.402 |
72.592 |
|
(d) Cash and cash
equivalents |
25.132 |
19.363 |
14.176 |
|
(e) Short-term loans and
advances |
0.280 |
0.348 |
0.272 |
|
(f) Other current assets |
30.811 |
30.101 |
24.559 |
|
Total Current Assets |
334.746 |
252.712 |
230.097 |
|
|
|
|
|
|
TOTAL |
497.874 |
378.015 |
353.607 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
691.246 |
608.284 |
485.339 |
|
|
Other Income |
6.971 |
2.184 |
3.272 |
|
|
TOTAL |
698.217 |
610.468 |
488.611 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
351.409 |
291.762 |
248.086 |
|
|
Operating expenses |
113.152 |
103.809 |
92.949 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(17.659) |
2.422 |
(19.505) |
|
|
Employees benefits
expense |
111.348 |
84.318 |
62.439 |
|
|
Other expenses |
54.054 |
47.829 |
45.957 |
|
|
TOTAL |
612.304 |
530.140 |
429.926 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE INTEREST,
TAX, DEPRECIATION AND AMORTISATION |
85.913 |
80.328 |
58.685 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
19.415 |
19.113 |
12.227 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
66.498 |
61.215 |
46.458 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
17.899 |
15.488 |
9.123 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
48.599 |
45.727 |
37.335 |
|
|
|
|
|
|
|
Less |
TAX |
15.796 |
17.451 |
12.919 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
32.803 |
28.276 |
24.416 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
533.420 |
466.037 |
334.535 |
|
|
Forwarding income
(Re-Imbursement) |
3.168 |
2.860 |
1.878 |
|
|
TOTAL EARNINGS |
536.588 |
468.897 |
336.413 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
254.746 |
201.546 |
204.181 |
|
|
Stores and spares |
1.243 |
2.335 |
1.596 |
|
|
Capital Goods |
14.133 |
1.774 |
27.723 |
|
|
TOTAL IMPORTS |
270.122 |
205.655 |
233.500 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
6.57 |
5.66 |
4.89 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
17.711 |
7.806 |
5.250 |
|
Cash generated from operations |
42.588 |
58.032 |
34.053 |
|
Net cash from operating activities |
25.233 |
42.673 |
20.047 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365) |
71.23 |
50.65 |
54.59 |
|
|
|
|
|
|
Account Receivables Turnover (Income /
Sunday Debtors) |
5.12 |
7.21 |
6.69 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
40.89 |
44.11 |
61.87 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.60 |
0.68 |
0.50 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.55 |
0.67 |
0.50 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.63 |
0.57 |
0.60 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.02 |
0.83 |
0.84 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.32 |
1.10 |
1.29 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.81 |
0.74 |
0.85 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
4.43 |
4.20 |
4.80 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT
/ Sales) * 100] |
% |
4.75 |
4.65 |
5.03 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
6.59 |
7.48 |
6.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
17.06 |
17.63 |
17.48 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.32 |
1.43 |
1.28 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.76 |
0.76 |
0.62 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.39 |
0.42 |
0.39 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
3.92 |
2.65 |
2.36 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.32 |
1.43 |
1.28 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Share Capital |
49.950 |
49.950 |
49.950 |
|
Reserves & Surplus |
89.712 |
110.411 |
142.292 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
139.662 |
160.361 |
192.242 |
|
|
|
|
|
|
long-term borrowings |
25.829 |
29.668 |
40.781 |
|
Short term borrowings |
86.791 |
95.020 |
137.399 |
|
Current Maturities of
Long term debt |
5.250 |
7.806 |
17.711 |
|
Total borrowings |
117.870 |
132.494 |
195.891 |
|
Debt/Equity ratio |
0.844 |
0.826 |
1.019 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
485.339 |
608.284 |
691.246 |
|
|
|
25.332 |
13.639 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR In Million |
INR In Million |
INR In Million |
|
Sales |
485.339 |
608.284 |
691.246 |
|
Profit |
24.416 |
28.276 |
32.803 |
|
|
5.03% |
4.65% |
4.75% |
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 |
No |
|
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 |
OPERATIONS
The company achieved
14.37% of growth in gross revenue which increased from INR 610.468 million in
FY 2015-16 to INR 698.217 million in FY 2016-17 and profit after tax increased
to INR 32.803 million from INR 28.276 million.
UNSECURED LOANS:
|
PARTICULAR |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
Long-term
Borrowings |
|
|
|
From Others: |
|
|
|
Interest Free Loans under Sales Tax Deferment Scheme |
0.000 |
0.096 |
|
Total |
0.000 |
0.096 |
INDEX OF CHARGE:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Amount |
Address |
|
1 |
G48295513 |
100038670 |
The Hongkong and Shanghai Banking Corporation Limited |
23/06/2016 |
02/05/2017 |
65000000.0 |
52/60, Mahatma Gandhi Road, Mumbai-400001, Maharashtra, India |
|
2 |
G07551674 |
100038669 |
The Hongkong and Shanghai Banking Corporation Limited |
23/06/2016 |
- |
15000000.0 |
52/60, Mahatma Gandhi Road, Mumbai-400001, Maharashtra, India |
|
3 |
G07551922 |
100038671 |
The Hongkong and Shanghai Banking Corporation Limited |
23/06/2016 |
- |
35000000.0 |
52/60, Mahatma Gandhi Road, Mumbai-400001, Maharashtra, India |
|
4 |
C53693669 |
10569522 |
Citi Bank N.A. |
09/04/2015 |
- |
70000000.0 |
First International Financial Centre (FIFC), Plot No. C-54 and 55, G-Block, BKC, Bandra (East), Mumbai-400051, Maharashtra, India |
|
5 |
G49923741 |
10531859 |
HDFC BANK LIMITED |
07/11/2014 |
02/05/2017 |
150000000.0 |
HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India |
|
6 |
C76069426 |
10535437 |
HDFC BANK LIMITED |
03/11/2014 |
18/01/2016 |
140000000.0 |
HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India |
|
7 |
C35110725 |
10533468 |
AXIS BANK |
11/08/2014 |
- |
900000.0 |
Axis Bank Limited, Asset Sales Centre , Mazda Tower, First Floor , Gpa Road , Trimbak Naka, Nashik-422001, Maharashtra, India |
|
8 |
G62361522 |
10413325 |
CITI BANK N.A. |
01/03/2013 |
26/10/2017 |
130000000.0 |
First International Financial Centre (FIFC), Plot No. C-54 and 55, G-Block, BKC, Bandra (East), Mumbai-400051, Maharashtra, India |
|
9 |
C79054466 |
10542216 |
Axis Bank Limited |
28/11/2014 |
09/04/2015 |
85000000.0 |
Corporate Banking Branch,12-Mittal Tower, First Fla Wing Nariman Point, Mumbai-400021, Maharashtra, India |
|
10 |
C42152645 |
80009182 |
State Bank of India |
05/07/1996 |
10/10/2007 |
112600000.0 |
Backbay Reclamation Branch, Raheja Chamber, Nariman Point, Mumbai-400021, Maharashtra, India |
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Letters of credit outstanding (Net of margin
money) |
41.324 |
57.417 |
|
Income tax demand for AY 2009-10 (Previous
year 2009-10) |
0.009 |
0.009 |
|
Total |
41.333 |
57.426 |
FIXED ASSETS:
- Land
- Building
- Plant and
Machinery
- Electrical
installation
- Furniture and
Fixture
- Office
equipment
- Computer
- 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
|
INR |
|
US Dollar |
1 |
INR 64.28 |
|
|
1 |
INR 89.02 |
|
Euro |
1 |
INR 78.93 |
INFORMATION DETAILS
|
Information Gathered
by : |
SHL |
|
|
|
|
Analysis Done by
: |
PRS |
|
|
|
|
Report Prepared
by : |
BHG |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on secured
terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.