|
|
|
MIRA INFORM REPORT
|
Report No. : |
492020 |
|
Report Date : |
16.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
SUPREME TEX MART LIMITED (w.e.f.2009) |
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|
Formerly Known
As : |
SUPREME YARN LIMITED (w.e.f.2003) SUPREME WOOLLEN MILLS LIMITED |
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Registered
Office : |
B-72, Focal Point, Phase - VII, Ludhiana - 141010, Punjab |
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Tel. No.: |
91-161-2600593 / 2222719 / 6614400 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
25.10.1988 |
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Com. Reg. No.: |
16-016933 |
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Capital
Investment / Paid-up Capital : |
INR 304.556 Million |
|
|
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|
CIN No.: [Company Identification
No.] |
L17117PB1988PLC016933 |
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IEC No.: |
Not Divulged |
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GST No.: |
Not Divulged |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAHCS9897D |
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|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer and Exporter of Cotton Yarn, Synthetic Yarn, Blended
Yarn, Knitted Fabric (both Grey and Processed) and Knitted Garments. (Registered Activity) |
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|
|
No. of Employees
: |
1099 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
D |
|
Credit Rating |
Explanation |
Rating Comments |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
Status : |
Insolvency procedure in process |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Clear |
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Comments : |
Supreme Tex Mart Limited was incorporated in the year 1988. The company manufactures and exports yarn, fabrics and garments. For the financial year 2017, the company has achieved growth in its revenue as compared to the previous year but has incurred operational loss. The moderate financial risk profile of the company is marked by eroded net worth base along with average debt balance sheet profile. Furthermore, subject has been found under RBI defaulter’s list, the name of credit grantor is Union Bank of India and the amount charged is INR 200.991 million dated 30-07-2017. The management has registered case (Case No. 100/2015) with Board for Industrial and Financial Reconstruction (BIFR) under Sick Industrial Companies Act, 1985 and status for the order of rehabilitation proposal is shown as pending determination of sickness as on 16 November 2016. The National Company Law Tribunal, Chandigarh Bench has ordered the commencement of a Corporate Insolvency Resolution Process against the Supreme Tex Mart Limited on 29th September 2017 vide its order dated September 29, 2017. Payment seems to be slow and delayed. In view of weak profile of the company, we do not recommend any business dealings. |
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name has been found enlisted as a
defaulter in the publicly available RBI Defaulters’ list and the details of the
same are as under :
Suit-filed accounts (willful defaulters) of INR 2.500 million and above
as on 22.09.2017
|
Borrowers’ Name : |
SUPREME TEXMART LIMITED |
|
Address : |
424 Industrial Area A, Cheema Chowk,
Ludhiana - 141003, Punjab, India |
|
Name of Individual : |
1. Mr. Ajay Gupta 2. Mr. Gautam Gupta |
|
Name of Credit Grantors / Bank & Branch: |
Union Bank of India, MID Corporate Ludhiana,
Punjab, India |
|
Amount (INR In Million) : |
INR 200.991 Million |
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 16.02.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date. The details of the listing are as under:
|
Date of Listing / Announcement : |
29.09.2017 |
|
Name of Company : |
SUPREME TEX MART LIMITED |
|
Name of Applicant : |
Allahabad Bank |
|
Name of Insolvency Professional : |
Mr. Bhupesh Gupta |
|
Address of Insolvency Professional : |
2181, Sector 38 C, Chandigarh - 160036, Chandigarh, India |
|
Reason for Listing : |
Corporate Insolvency Resolution Process |
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE [TEL. NO.: 91-161-5082524]
LOCATIONS
|
Registered Office : |
B-72, Focal Point, Phase - VII, Ludhiana - 141010, Punjab, India |
|
Tel. No.: |
91-161-2600593 / 2222719 / 6614400 / 2510622 / 2510320 / 2510097 |
|
Mobile No.: |
91-9915700175 (Mr. Robin Vijan) 91-9915710123 (Gaurav Mehra) |
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Fax No.: |
91-161-2609949 / 2510584 / 2609949 |
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E-Mail : |
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Website : |
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Factory 1 : |
Spinning Unit – 1
and 2 Village Kanganwal. P.O. Jugiana, Ludhiana, Punjab, India |
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Factory 2 : |
Dyeing Unit and
Hand Knitting Yarn Unit B – 72, Phase – VIII, Focal Point, Ludhiana, Punjab, India |
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Factory 3 : |
Apparels and Knits
Unit Village Paharuwal, P.O. Budhewal, Chandigarh Road,
Ludhiana, Punjab, India |
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Factory 4 : |
Knitting and Fabric
Process Unit E-673(A) to E-676(A), Phase -VIII, Focal Point, Ludhiana, Punjab, India |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Ajay Gupta |
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|
Designation : |
Managing Director |
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Address : |
445, Sant Nagar, Hira Singh Road, Ghumhar Mandi, Ludhiana - 141001, Punjab, India |
||||||||||||||||
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Date of Birth/Age : |
02.02.1965 |
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Date of Appointment : |
25.10.1988 |
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DIN No.: |
00842248 |
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Other Directorship :
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|
||||||||||||||||
|
Name : |
Mr. Bhupinder Singh Mann |
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Designation : |
Director |
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|
Address : |
Village Lutki Majra (Zore Majra), P.O. Dhanetha, Samana, Patiala - 147001, Punjab, India |
||||||||||||||||
|
Date of Birth/Age : |
11.02.1974 |
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|
Date of Appointment : |
12.08.2015 |
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DIN No.: |
01211549 |
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Other Directorship :
|
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|
||||||||||||||||
|
Name : |
Mr. Kuldip Singh |
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Designation : |
Director |
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|
Address : |
H. No. 12507, Street No. 8, Vishwakarma- Colony, Near Sangeet Cinema Ludhiana - 141003, Punjab, India |
||||||||||||||||
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Date of Birth/Age : |
30.05.1958 |
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|
Date of Appointment : |
21.07.2012 |
||||||||||||||||
|
DIN No.: |
05327381 |
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|
||||||||||||||||
|
Name : |
Mr. Gautam Gupta |
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|
Designation : |
Joint Managing Director |
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KEY EXECUTIVES
|
Name : |
Mr. Gaurav Gupta |
|
Designation : |
Company Secretary |
|
Address : |
House No. 154, Urban Estate, Dugri, Phase-1, Ludhiana - 141003, Punjab, India |
|
Date of Appointment : |
05.07.2017 |
|
PAN No.: |
BADPG0808G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2017
|
Category of Shareholder |
Total No. of Shares |
As a % |
|
(A) Promoter and Promoter Group |
20980918 |
30.75 |
|
(B) Public |
47249317 |
69.25 |
|
|
|
|
|
Grand Total |
68230235 |
100.00 |
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category of
shareholder |
Total nos. shares
held |
Shareholding as a %
of total no. of shares (calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
A1) Indian |
0.00 |
|
|
|
Individuals/Hindu undivided Family |
1,51,85,696 |
22.26 |
|
|
Ajay Gupta |
58,75,445 |
8.61 |
|
|
Ishita Gupta |
3,12,000 |
0.46 |
|
|
Manju Gupta |
20,77,261 |
3.04 |
|
|
Sanjay Gupta |
69,04,640 |
10.12 |
|
|
Shukla Gupta |
16,350 |
0.02 |
|
|
Central Government/ State Government(s) |
16,45,222 |
2.41 |
|
|
Punjab State Industrial Development
Corporation Limited |
16,45,222 |
2.41 |
|
|
Any Other (specify) |
41,50,000 |
6.08 |
|
|
Goldleaf International Private Limited |
8,00,000 |
1.17 |
|
|
Venus Texspin Limited |
33,50,000 |
4.91 |
|
|
Sub Total A1 |
2,09,80,918 |
30.75 |
|
|
A2) Foreign |
0.00 |
|
|
|
A=A1+A2 |
2,09,80,918 |
30.75 |
|
Statement showing shareholding
pattern of the Public shareholder
|
Category & Name
of the Shareholders |
Total no. shares
held |
Shareholding %
calculated as per SCRR, 1957 As a % of (A+B+C2) |
|
|
B1) Institutions |
0.00 |
|
|
|
B2) Central Government/ State Government(s)/
President of India |
0.00 |
|
|
|
B3) Non-Institutions |
0.00 |
|
|
|
Individual share capital upto INR 0.200
Million |
2,85,25,974 |
41.81 |
|
|
Individual share capital in excess of INR
0.200 Million |
1,25,93,984 |
18.46 |
|
|
Parth Garg |
7,94,502 |
1.16 |
|
|
Praveen Dalal |
9,44,086 |
1.38 |
|
|
Radhika Anand |
12,35,023 |
1.81 |
|
|
Rajesh Mehra |
9,56,506 |
1.40 |
|
|
Any Other (specify) |
61,29,359 |
8.98 |
|
|
Bodies Corporate |
50,59,480 |
7.42 |
|
|
Aqualite India Limited |
6,92,987 |
1.02 |
|
|
Clearing Members |
2,50,704 |
0.37 |
|
|
NRI – Non- Repat |
5,900 |
0.01 |
|
|
NRI – Repat |
1,62,314 |
0.24 |
|
|
HUF |
6,50,961 |
0.95 |
|
|
Sub Total B3 |
4,72,49,317 |
69.25 |
|
|
B=B1+B2+B3 |
4,72,49,317 |
69.25 |
|
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Cotton Yarn, Synthetic Yarn,
Blended Yarn, Knitted Fabric (both Grey and Processed) and Knitted Garments. (Registered Activity) |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
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Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
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|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
1099 (Approximately) |
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|
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|
Bankers : |
·
State Bank of India ·
Punjab National Bank ·
UCO Bank ·
Allahabad Bank ·
IDBI Bank Limited ·
Punjab & Sind Bank ·
Central Bank of India ·
Union Bank of India ·
SBER |
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|
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|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Datta Singla and Company Chartered Accountants |
|
Address: |
S C O 34, Sec 4-D, BAttan Lal Road, Mandi Gobindgarh - 147301, Punjab, India |
|
Tel. No.: |
91-1765-252417/256146/ 250935/ 507146 |
|
Email: |
|
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Partnership Firm: |
GTTL |
|
|
|
|
Group Companies: |
·
Venus Tex Spin Limited ·
Gautam Terry Tech Limited ·
Goldleaf International Private Limited ·
Cimero Industrial Enterprises Limited ·
Ganeshgee Textile Trading Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90000000 |
Equity Shares |
INR 5/- each |
INR 450.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
68230235 |
Equity Shares |
INR 5/- each |
INR 341.151
Million |
|
|
Less: Calls in arrear - by others |
|
INR 0.595
Million |
|
|
Total |
|
INR 340.556 Million |
Reconciliation of the
number of shares outstanding
|
Particulars |
As at March 31
2017 |
|
|
No. |
Amount in Million |
|
|
At
the beginning of the period |
68230235 |
341.151 |
|
Issued
during the period |
-- |
-- |
|
|
68230235 |
341.151 |
Terms/rights attached
to equity shares
The company has one class of equity shares having a par value of INR 5 per share. Each holder of equity shares is entitled to one vote per share.
In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by shareholder.
Details of
shareholders holding more than 5% shares in the company
|
Particulars |
As at March 31,
2017 |
|
|
No. |
% Holding in the
class |
|
|
Equity shares of
INR 5 each fully paid |
|
|
|
Sindia Investment Group Pte Limited |
0 |
0.00% |
|
Gold Leaf International Private Limited |
0 |
0.00% |
|
Sanjay Gupta |
6904640 |
10.12% |
|
Ajay Gupta |
5875445 |
8.61% |
|
Bhavna Gupta |
0 |
0.00% |
As per records of the company, including its register of shareholders/members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownership of shares.
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
340.556 |
340.556 |
340.556 |
|
(b) Reserves & Surplus |
(2258.642) |
(2205.934) |
(417.525) |
|
(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) |
(1918.086) |
(1865.378) |
(76.969) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
1803.882 |
2323.181 |
2272.764 |
|
(b) Deferred tax liabilities (Net) |
303.496 |
303.496 |
303.496 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
48.282 |
35.495 |
26.235 |
|
Total
Non-current Liabilities (3) |
2155.660 |
2662.172 |
2602.495 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
2561.721 |
2313.757 |
2176.041 |
|
(b)
Trade payables |
650.384 |
735.363 |
696.265 |
|
(c)
Other current liabilities |
430.749 |
512.093 |
454.571 |
|
(d)
Short-term provisions |
28.672 |
44.189 |
46.620 |
|
Total
Current Liabilities (4) |
3671.526 |
3605.402 |
3373.497 |
|
|
|
|
|
|
TOTAL |
3909.100 |
4402.196 |
5899.023 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1646.318 |
2119.920 |
2638.699 |
|
(ii)
Intangible Assets |
0.812 |
1.049 |
2.067 |
|
(iii)
Capital work-in-progress |
12.651 |
8.356 |
0.089 |
|
(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 |
41.500 |
41.293 |
56.886 |
|
(e)
Other Non-current assets |
155.942 |
155.942 |
172.367 |
|
Total
Non-Current Assets |
1857.223 |
2326.560 |
2870.108 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
434.071 |
652.907 |
1601.483 |
|
(c)
Trade receivables |
624.411 |
642.419 |
740.947 |
|
(d)
Cash and cash equivalents |
130.025 |
126.474 |
126.854 |
|
(e)
Short-term loans and advances |
644.181 |
431.619 |
405.832 |
|
(f)
Other current assets |
219.189 |
222.217 |
153.799 |
|
Total
Current Assets |
2051.877 |
2075.636 |
3028.915 |
|
|
|
|
|
|
TOTAL |
3909.100 |
4402.196 |
5899.023 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations (Net0 |
3952.992 |
3504.138 |
4298.170 |
|
|
|
Other Income |
7.107 |
119.326 |
1.042 |
|
|
|
TOTAL |
3960.099 |
3623.464 |
4299.212 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
2007.897 |
3348.913 |
3067.778 |
|
|
|
Purchases of Stock-in-Trade |
470.716 |
185.660 |
414.260 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
149.803 |
9.040 |
79.766 |
|
|
|
Employees benefits expense |
250.872 |
195.111 |
155.041 |
|
|
|
Other expenses |
1053.241 |
968.867 |
1196.802 |
|
|
|
Extraordinary Items |
(14.329) |
0.000 |
0.000 |
|
|
|
Exceptional Items |
0.000 |
0.000 |
530.867 |
|
|
|
TOTAL |
3918.200 |
4707.591 |
5444.514 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
41.899 |
(1084.127) |
(1145.302) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
15.427 |
220.242 |
417.351 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
26.472 |
(1304.369) |
(1562.653) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
460.364 |
484.040 |
520.779 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(433.892) |
(1788.409) |
(2083.432) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.014 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(433.892) |
(1788.409) |
(2083.446) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
414.612 |
656.910 |
1042.820 |
|
|
TOTAL EARNINGS |
414.612 |
656.910 |
1042.820 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
68.710 |
22.013 |
0.000 |
|
|
|
Stores & Spares |
7.382 |
6.699 |
9.580 |
|
|
|
Capital Goods |
0.000 |
0.000 |
40.165 |
|
|
TOTAL IMPORTS |
76.092 |
28.712 |
49.745 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
(6.36) |
(26.21) |
(30.54) |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term Borrowings |
316.310 |
235.494 |
216.980 |
|
|
|
|
|
|
Cash generated from operations |
(43.922) |
6.288 |
(323.944) |
|
|
|
|
|
|
Net Cash from Operating Activities |
(59.439) |
3.870 |
(327.725) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
57.66 |
66.92 |
62.92 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
6.33 |
5.45 |
5.80 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
95.78 |
75.94 |
72.99 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.10 |
(1.66) |
-0.72 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.03 |
(0.51) |
-0.43 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
1.48 |
1.40 |
0.99 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
(2.44) |
(2.61) |
(60.62) |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
(1.91) |
(1.93) |
(43.83) |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
(0.87) |
(1.14) |
(34.31) |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
2.72 |
(4.92) |
(2.74) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(10.98) |
(51.04) |
(48.47) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(11.10) |
(40.63) |
(35.32) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
22.62 |
95.87 |
2706.86 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.56 |
0.58 |
0.90 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.44 |
0.39 |
0.42 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
(0.49) |
(0.42) |
(0.01) |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
13.75 |
14.31 |
13.70 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.56 |
0.58 |
0.90 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 5/- |
|
|
|
|
Market Value |
INR3.53/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
340.556 |
340.556 |
340.556 |
|
Reserves & Surplus |
(417.525) |
(2205.934) |
(2258.642) |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
(76.969) |
(1865.378) |
(1918.086) |
|
|
|
|
|
|
long-term borrowings |
2272.764 |
2323.181 |
1803.882 |
|
Short term borrowings |
2176.041 |
2313.757 |
2561.721 |
|
Current Maturities of Long
term Borrowings |
216.980 |
235.494 |
316.310 |
|
Total
borrowings |
4665.785 |
4872.432 |
4681.913 |
|
Debt/Equity
ratio |
(60.619) |
(2.612) |
(2.441) |
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 |
4298.170 |
3504.138 |
3952.992 |
|
|
|
(18.474) |
12.809 |
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 |
4298.170 |
3504.138 |
3952.992 |
|
Profit/ (Loss) |
(2083.446) |
(1788.409) |
(433.892) |
|
|
(48.47%) |
(51.04%) |
(10.98%) |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
INDEX OF CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C54552161 |
10571402 |
PUNJAB
& SIND BANK |
31/03/2015 |
- |
- |
81800000.0 |
OPPOSITE
VERKA MILK PLANTFEROZEPUR ROADLUDHIANAPB141001IN |
|
2 |
C54891700 |
10571849 |
ALLAHABAD
BANK |
31/03/2015 |
- |
- |
171300000.0 |
IFB,
CHEEMA CHOWKINDUSTRIAL AREA 'A'LUDHIANAPB141003IN |
|
3 |
C51102689 |
10564032 |
PUNJAB
NATIONAL BANK |
30/03/2015 |
- |
- |
1602100000.0 |
LARGE
CORPORATE BRANCH, BHAGWATI TOWER, RK ROADCHEEMA CHOWNK,
LUDHIANA-141003LUDHIANAPB141003IN |
|
4 |
C48296727 |
10557988 |
IDBI
BANK LIMITED |
30/03/2015 |
- |
- |
584600000.0 |
FEROZE
GANDHI MARKETLUDHIANAPB141001IN |
|
5 |
B92772235 |
10468318 |
UNION
BANK OF INDIA |
05/12/2013 |
- |
- |
50000000.0 |
MCBDUGRI
ROADLUDHIANAPB141001IN |
|
6 |
B66785213 |
10399731 |
STATE
BANK OF INDIA |
28/12/2012 |
- |
- |
50000000.0 |
IFB,
GOLDEN TOWERDHOLEWAL CHOWKLUDHIANAPB141003IN |
|
7 |
B88136783 |
10361808 |
CENTRAL
BANK OF INDIA |
24/05/2012 |
31/08/2013 |
- |
450000000.0 |
MCB,
R.K. ROAD,LUDHIANALUDHIANAPB141003IN |
|
8 |
B88049051 |
10263447 |
PUNJAB
NATIONAL BANK |
21/12/2010 |
31/08/2013 |
- |
250000000.0 |
LCB, R.K.
ROAD, BHAGWATI TOWERR.K. ROADLUDHIANAPB141003IN |
|
9 |
B87904520 |
10198826 |
PUNJAB
NATIONAL BANK |
24/12/2009 |
31/08/2013 |
- |
135000000.0 |
LCB,
R.K. ROAD, BHAGWATI TOWERR.K. ROADLUDHIANAPB141003IN |
|
10 |
B88145214 |
10196068 |
ALLAHABAD
BANK |
02/12/2009 |
31/08/2013 |
- |
125000000.0 |
IIFB,
INDUSTRIAL AREA "A"LUDHIANALUDHIANAPB141003IN |
|
11 |
B88154109 |
10166965 |
ALLAHABAD
BANK |
09/06/2009 |
31/08/2013 |
- |
129500000.0 |
IIFB,
INDUSTRIAL AREA "A"LUDHIANALUDHIANAPB141003IN |
|
12 |
C38047312 |
10166966 |
SBI
CONSORTIUM SBI (LEADER) & PNB & IDBI & UBI & CBI & PUNJAB
& SIND BANK & SBER BANK |
04/06/2009 |
29/10/2014 |
- |
2534200000.0 |
CB
KAILASH NAGARFOCAL POINT ROADLUDHIANAPB141001IN |
|
13 |
B90984741 |
10125589 |
SBI GLOBAL
FACTORS LIMITED |
15/10/2008 |
02/12/2013 |
- |
45000000.0 |
6TH
FLOOR, METROPOLITAN BUILDING, BANDRA-KURLACOMPLEX,
BANDRA(EAST)MUMBAIMH400051IN |
|
14 |
A65941593 |
10051235 |
UCO
BANK |
21/03/2007 |
29/06/2009 |
- |
90000000.0 |
MID CORPORATE
BRANCH, R.K. ROADNEAR CHEEMA CHOWKLUDHIANAPB141003IN |
|
15 |
B87904736 |
10034666 |
PUNJAB
NATIONAL BANK |
13/12/2006 |
31/08/2013 |
- |
750000000.0 |
LARGE
CORPORATE BRANCH, R.K. ROADLUDHIANAPB141003IN |
|
16 |
B88062500 |
90172164 |
STATE BANK
OF INDIA |
28/08/2003 |
31/08/2013 |
- |
897500000.0 |
SMCB,
FOCAL POINT ROADKAILASH NAGARLUDHIANAPB141010IN |
|
17 |
C19478221 |
10480075 |
PNB
HOUSING FINANCE LIMITED |
31/12/2013 |
- |
21/08/2014 |
44000000.0 |
9TH FLOORANTRIKSH
BHAWAN22 K G MARGNEW DELHIDL110001IN |
|
18 |
B39649686 |
10287036 |
UCO
BANK |
31/03/2011 |
- |
01/05/2012 |
20000000.0 |
MCB,
R.K. ROADLUDHIANALUDHIANAPB141003IN |
|
19 |
B38915336 |
10254361 |
PUNJAB
NATIONAL BANK |
29/11/2010 |
- |
27/04/2012 |
50000000.0 |
LCB,
R.K. ROAD, BHAGWATI TOWERR.K. ROADLUDHIANAPB141003IN |
|
20 |
B25046145 |
10296056 |
ORIENTAL
BANK OF COMMERCE |
11/06/2011 |
- |
20/10/2011 |
20000000.0 |
ORIENTAL
BANK OF COMMERCEOVERSEAS BRANCH, JHANDU TOWERS, MILLERGANJLUDHIANAPB141003IN |
|
21 |
B18379198 |
10287034 |
STATE
BANK OF INDIA |
31/03/2011 |
- |
08/08/2011 |
66500000.0 |
SCB,
MILLER GANJ, PAHWA HOSPITAL COMPLEXLUDHIANALUDHIANAPB141001IN |
|
22 |
B18377663 |
90172153 |
STATE
BANK OF INDIA |
28/03/2003 |
30/04/2005 |
08/08/2011 |
310100000.0 |
SCB
FOCAL POINTLUDHIANAPBIN |
|
23 |
B09142290 |
10243529 |
IDBI
BANK LIMITED |
16/09/2010 |
- |
05/03/2011 |
200000000.0 |
B-15/295,
NEAR OLD OSWAL MILLSMILLER GANJ, G.T ROAD LUDHIANALUDHIANAPB141003IN |
|
24 |
B04741336 |
10243169 |
PUNJAB
NATIONAL BANK |
28/09/2010 |
- |
20/01/2011 |
480000000.0 |
LCB,
R.K. ROAD, BHAGWATI TOWERR.K. ROADLUDHIANAPB141003IN |
|
25 |
A96282207 |
10227881 |
PUNJAB
NATIONAL BANK |
29/06/2010 |
- |
14/10/2010 |
480000000.0 |
LCB,
R.K. ROAD, BHAGWATI TOWERR.K. ROADLUDHIANAPB141003IN |
|
26 |
A95135463 |
10208514 |
PUNJAB
NATIONAL BANK |
02/03/2010 |
- |
16/09/2010 |
50000000.0 |
LCB, R.K.
ROAD, BHAGWATI TOWERR.K. ROADLUDHIANAPB141003IN |
|
27 |
A89266837 |
10208033 |
UCO
BANK |
17/02/2010 |
- |
07/07/2010 |
80000000.0 |
MCB,
R.K. ROADLUDHIANALUDHIANAPB141003IN |
|
28 |
A89002935 |
10214098 |
PUNJAB
NATIONAL BANK |
29/03/2010 |
- |
07/07/2010 |
300000000.0 |
LCB,
R.K. ROAD, BHAGWATI TOWERR.K. ROADLUDHIANAPB141003IN |
|
29 |
A81821985 |
10190321 |
PUNJAB
NATIONAL BANK |
05/11/2009 |
- |
23/03/2010 |
50000000.0 |
LCB,
R.K. ROAD, BHAGWATI TOWERR.K. ROADLUDHIANAPB141003IN |
|
30 |
A76629344 |
10183531 |
PUNJAB
NATIONAL BANK |
22/09/2009 |
- |
11/01/2010 |
300000000.0 |
LCB,
R.K. ROAD, BHAGWATI TOWERR.K. ROADLUDHIANAPB141003IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
From directors |
34.198 |
20.517 |
|
From related parties (including inter corporate loans) |
141.786 |
100.001 |
|
|
|
|
|
Total |
175.984 |
120.518 |
COMPANY OVERVIEW:
Supreme Tex Mart Limited
(STML) is an integrated textile organization based at Ludhiana. STML
manufactures various type of yarns and garments for customers in domestic and
international markets.
FINANCE
Cash
and Cash equivalent as at 31st March, 2017 is INR 130.000 Million. The Company
continues to focus on
judicious management of working capital. Working Capital parameters are kept
under strict check through continuous monitoring.
INDUSTRY AND ECONOMIC
SCENARIO & OUTLOOK
India emerged as a ‗bright
spot‘ in an otherwise subdued world economy when it overtook China in 2016-17
as the fastest-growing major economy in the world. Though India‘s fundamentals
still remain strong, the recent demonetization initiative undertaken by the
Indian Government is expected to lower India‘s GDP growth from 7.6% in FY16 to
6.8% in FY17.
The Indian textiles
industry is one of the oldest industries of the country. The textile industry
has two broad segments. First, the unorganized sector consisting of handloom,
handicrafts and sericulture and the second is the organized sector consisting
of spinning, weaving, knitting, garments and home textiles segment. The
industry has a major contribution to the national economy in terms of direct
and indirect employment generation and net foreign exchange earnings. The
sector contributes 14% to industrial production, 4% to India‘s Gross Domestic
Product (GDP) and 15% to the country‘s export earnings. It is the second
largest employment provider in the country employing nearly 51 million people
directly and 68 million people indirectly in 2016-17. Exports have been a core
feature of India‘s textile sector. India remains the second largest exporter of
Textile and Clothing (T&C) with global share of 4.8%. Overall T&C exports
in key Asian geographies have come down over the last year primarily driven by
fall in exports for both China and India. Driven by rising labor cost and
strong currency, China has been losing market share over the last few years.
India textile exports, on
the other hand, have fallen by ~5% in FY16-17 due to fall in cotton textile.
While the medium term outlook for Indian textile remains strong, there are many
near term challenges that can impact the growth of the sector. Indian currency
has been gaining sharply and is likely to impact growth of export. Rising
labour cost and high transportation costs are other key challenges facing
Indian textile sector. Another key challenge facing Indian textile sector is
rapid depreciation of currency by China over the last one year. Sharp
depreciation of the yuan will effect India‘s export competitiveness, thus
impacting the export volume growth trends going forward.
FINANCIAL / OPERATIONAL
PERFORMANCE
Supreme is manufacturer and
exporter of cotton yarn, synthetic yarn, blended yarn, knitted fabric (both
grey and processed) and knitted garments. During the year under review, the
Company's exports (FOB value) were to the tune of INR 414.600 Million and
accounts for about 10.47% of company‘s revenues. The company has identified two
segment- yarn and garments. The yarn segment comprises production of various
types of yarn (from cotton, manmade fibers and blend thereof). Garment segment
comprises of knitted garments.
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED
31.12.2017
(INR IN MILLION)
|
Sr. No. |
Particulars |
Quarter Ended 31.12.2017 |
Quarter Ended 30.09.2017 |
Nine Months Ended 31.12.2017 |
|
|
|
|
|
|
|
1. |
Income
from operations |
|
|
|
|
|
a)
Net Sales/Income from Operations |
583.895 |
831.837 |
725.325 |
|
|
b)
Other Operating Income |
0.000 |
0.000 |
0.000 |
|
|
Other
Income |
58.131 |
108.898 |
0.376 |
|
|
Total income |
642.026 |
940.735 |
725.701 |
|
|
|
|
|
|
|
2. |
Expenses |
|
|
|
|
|
a)
Cost of materials consumed |
461.361 |
863.820 |
2127.197 |
|
|
b)
Purchase of traded goods |
0.000 |
0.000 |
166.451 |
|
|
c)
Changes in inventories of finished goods, work-in-progress and traded goods |
49.332 |
35.907 |
(1.719) |
|
|
d)
Employee benefits expense |
80.320 |
71.058 |
217.285 |
|
|
e)
Depreciation and amortisation expense |
115.091 |
115.406 |
345.273 |
|
|
f)
Finance Costs |
5.100 |
2.949 |
15.918 |
|
|
g)
Other expenses |
104.818 |
65.536 |
374.564 |
|
|
Total Expenses |
816.021 |
1154.676 |
3244.968 |
|
|
|
|
|
|
|
3. |
Profit/(Loss) from
Operations before exceptional Items and tax |
(173.995) |
(213.941) |
(750.892) |
|
|
|
|
|
|
|
4. |
Exceptional
Items |
0.000 |
539.345 |
539.345 |
|
|
|
|
|
|
|
5. |
Profit/(Loss) from
Operations before extraordinary items and tax |
(173.995) |
(75.3286) |
(1290.237) |
|
|
|
|
|
|
|
6. |
Extraordinary
items |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
7. |
Profit/(Loss) from before tax |
(173.995) |
(753.286) |
(1290.237) |
|
|
|
|
|
|
|
8. |
Tax
expense |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
9. |
Net Profit/
(Loss) for the period |
(173.995) |
(753.286) |
(1290.237) |
|
|
|
|
|
|
|
10. |
Other Comprehensive Income |
|
|
|
|
|
A. Items that will not be reclassified to profit or loss |
0.000 |
0.000 |
0.000 |
|
|
Income tax relating to items that will be reclassified to profit or loss |
0.000 |
0.000 |
0.000 |
|
|
B. Items that will be reclassified to profit or loss |
0.000 |
0.000 |
0.000 |
|
|
Income tax relating to items that will be reclassified to profit or loss |
0.000 |
0.000 |
0.000 |
|
11. |
Total Comprehensive Income for the period |
(173.995) |
(753.286) |
(1290.237) |
|
|
|
|
|
|
|
12. |
Paid - up Equity Share Capital (Face value of INR 5/- per share) |
341.151 |
341.151 |
341.150 |
|
|
|
|
|
|
|
13. |
Earnings Per Share |
(2.55) |
(11.04) |
(18.91) |
|
|
a) Basic |
(2.55) |
(11.04) |
(18.91) |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Bills discounted with banks against irrevocable letter of credit |
0.000 |
9.888 |
|
The Income Tax Assessments of the company have been completed upto the assessment year (A.Y.) 2014-15 for which no demand has been created. The Company has filed an appeal against the order of AETC, ICC before Joint director cum Deputy Excise and Taxation commissioner (Appeal) against imposition of Penalty of INR 0.233 Million. The Company has filed an appeal against the order of Assistant Commissioner Central Excise division before Commissioner (Appeal) against collection of Service tax of INR 0.088 Million along with interest and penalty of INR 0.094 Million. |
||
FIXED ASSETS:
Tangible Assets
· Freehold Land
· Leasehold Land
· Buildings
· Plant and equipment
· Furniture fixtures
· Vehicles
· Office equipment
· Computer equipment
PRESS RELEASE
SEBI BANS 10 ENTITIES
FOR FRAUDULENT TRADE WITH FAKE SMSES
Promoters, directors and their relatives along with three other entities allured investors through fake Short Message Services (SMSes) recommending purchasing the loss-making company's shares before selling a "substantial portion" of their shareholding, according to Sebi.
Nov 02, 2017
Clamping down on fraudulent activities, Sebi has barred 10 entities for sending out fake SMSes in bulk with "questionable recommendations" to pump up trading volumes in the shares of Supreme Tex Mart Ltd.
Promoters, directors and their relatives along with three other entities allured investors through fake Short Message Services (SMSes) recommending purchasing the loss-making company's shares before selling a "substantial portion" of their shareholding, according to Sebi.
After coming under its scanner, Sebi conducted a probe into trading in STML shares during the period from July 1, 2016 to January 31, 2017, specifically in relation to bulk messages of "questionable recommendations" about the scrip.
Underlining the need to take immediate action to prevent recurrence of such practices, the watchdog has banned 10 entities "till further directions" from the capital market besides ordering them to "to cease and desist" from disseminating messages or news-related to the securities market.
STML's promoter Goldleaf International, promoter Sanjay Gupta and his son Gautam Gupta, promoter and director Ajay Gupta promoter and his wife Shikha Gupta, director Kajal Rai and the company's joint account holder Ram Lal Gupta have been barred. The regulator has collectively referred Goldleaf and the six individuals as "identified entities".
Besides, three others entities -- Neeleshkumar Radheshyam Lahoti, Mohsin and Future Fintrade -- have been restrained from the securities market. While imposing the ban, the regulator observed that there "is a likelihood that the same modus operandi may be repeated by promoters/ directors to further offload their shareholding at the cost of innocent investors in an illegitimate manner".
According to Sebi, SMSes were sent to investors to pump up the volume of loss-making STML, whose accumulated losses exceeded its entire worth as on March 2015 and was classified as a sick company.
The ultimate goal of sending out fake messages was to attract innocent investors was for the promoters and directors to sell their shares and "eventually sold a substantial portion of their shareholding", the regulator noted.
Out of the 10 entities, Lahoti and Mohsin channelised the funds from STML to RouteSMS for the purpose of sending the bulk messages, Sebi said, adding that Future Fintrade was used as a front entity for entering into agreement with RouteSMS.
"The fund flow and sell off of promoters/directors prima facie shows that the identified entities engaged in a premeditated, manipulative practice of indirectly sending SMSes recommending 'buy' for STML, and selling during the period when volumes in the scrip of STML increased as a result of the SMSes," Sebi said in an order.
During July-September 2016, Sebi noted, that the promoters/directors of STML offloaded more than 27 per cent shares of the company adopting the mode. They hold 30.24 per cent stake currently, according to the order.
"In my view the modus operandi of 'identified entities' along with Lahoti, Future Fintrade and Mohsin indicates a scheme, plan, device, artifice or contrivance that is, prima facie 'fraudulent' as defined in ... PFTUP (Prohibition of Fraudulent and Unfair Trade Practices) regulations," Sebi Whole Time Member Madhabi Puri Buch said in the order.
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 63.92 |
|
UK Pound |
1 |
INR 89.55 |
|
Euro |
1 |
INR 79.68 |
INFORMATION
DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
ARC |
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 |
YES |
|
--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.