|
|
|
MIRA
INFORM REPORT
|
Report No. : |
511458 |
|
Report Date : |
29.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
LAXMI COTSPIN LIMITED (w.e.f. 07.03.2011) |
|
|
|
|
Formerly Known
As : |
LAXMI
COTSPIN PRIVATE LIMITED (w.e.f. 12.07.2007) MAULI
COTSPIN PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gut No.399, Samangoan Kajala Road, Infront of Meenatai Thakare
Vridhashram, Samangoan, Jalna – 431203, Maharashtra |
|
Mobile No.: |
91-9923455817 (Mr. Sanjay Rathi) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2018 |
|
|
|
|
Date of
Incorporation : |
19.10.2005 |
|
|
|
|
Com. Reg. No.: |
11-156866 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 171.477 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L17120MH2005PLC156866 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
3105020349 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECM5186A |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAECM5186A1ZL |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
|
|
Line of Business
: |
Subject is engaged in the business of Cotton Yarn
Manufacturing in Textile Industry. [Registered Activity] |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 1263000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2005 having satisfactory track record. It is engaged as a manufacturer and exporter of cotton yarn and cotton bales. For the financial year 2017, the company has reported marginal increase in its revenue compared to its previous year along with average profit margin during the year. Rating takes into consideration the satisfactory financial risk profile marked by comfortable net worth base along with ideal debt level balance sheet profile. Rating continues to derive strength form the experience of promoters in cotton business supported by company’s established track record of its business operations. However, rating strengths is partially offset by seasonal availability of raw material and associated volatility in raw material prices, working capital intensive nature of operation and presence in highly fragmented cotton industry. Payments seems to be usually correct. In view of 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.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
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 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
31-03-2018.
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 29.05.2018
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 DECLINED BY
|
Name : |
Mr. Sanjay Rathi |
|
Designation : |
Director |
|
Contact No.: |
91-9923455817 |
|
Date : |
24.05.2018 |
LOCATIONS
|
Registered Office : |
Gut No.399, Samangoan Kajala Road, Infront of Meenatai Thakare
Vridhashram, Samangoan, Jalna – 431203, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9923455817 (Mr. Sanjay Rathi) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON: 31.03.2018
|
Name : |
Mr. Sanjay Kachrulal Rathi |
|
Designation : |
Managing Director |
|
Address : |
570, Vrindavan, College Road, Jalna – 431203, Maharashtra, India |
|
Date of Appointment : |
19.10.2005 |
|
DIN No.: |
00182739 |
|
|
|
|
Name : |
Mr. Bhavesh Ramesh Patel |
|
Designation : |
Director |
|
Address : |
Swamy, Ajanta Nagar, Devalgaonraja Road, Jalna – 431203, Maharashtra, India |
|
Date of Appointment : |
13.06.2016 |
|
DIN No.: |
00227522 |
|
|
|
|
Name : |
Mr. Rajesh Puranmal Bansal |
|
Designation : |
Director |
|
Address : |
Rajesh Vastra Bhandar, Main Road, Mantha, Jalna – 431504, Maharashtra, India |
|
Date of Birth/Age : |
07.02.1960 |
|
Qualification: |
8th Pass |
|
Date of Appointment : |
08.05.2006 |
|
DIN No.: |
00272612 |
|
|
|
|
Name : |
Mr. Shivratan Shrigopal Mundada |
|
Designation : |
Director |
|
Address : |
Shrigopal Smruti, Manik Nagar, Sambhaji Nagar, Jalna – 431203, Maharashtra, India |
|
Date of Appointment : |
19.10.2005 |
|
DIN No.: |
00349668 |
|
|
|
|
Name : |
Mrs. Prafullata Sanjay Rathi |
|
Designation : |
Additional Director |
|
Address : |
570, Vrindavan, College Road, Jalna – 431203, Maharashtra, India |
|
Date of Birth/Age : |
25.02.1969 |
|
Qualification: |
B.Com |
|
Date of Appointment : |
01.03.2017 |
|
DIN No.: |
03056379 |
|
|
|
|
Name : |
Mr. Ritesh Radhesham Mantri |
|
Designation : |
Director |
|
Address : |
R/O Samadhan Opposite Nagar Parishad Rly, Station Road, Jalna – 431203, Maharashtra, India |
|
Date of Appointment : |
10.01.2017 |
|
DIN No.: |
03576250 |
|
|
|
|
Name : |
Mr. Satish Swaroopnarayan Bhakkad |
|
Designation : |
Director |
|
Address : |
1-3-1339, Ganpati Ajanta Nagar, Devalgaon Road, Jalna – 431203, Maharashtra, India |
|
Date of Appointment : |
10.01.2017 |
|
DIN No.: |
07597811 |
KEY EXECUTIVES
|
Name : |
Mrs. Pooja Vijay Potdar |
|
Designation : |
Company Secretary |
|
Address : |
Flat No 11, Udyog Srushti Apartment, Garkheda, Aurangabad – 431001, Maharashtra, India |
|
Date of Appointment : |
14.03.2016 |
|
PAN No.: |
BBYPP0838H |
|
|
|
|
Name : |
Mr. Anupkumar Ashokrao Gindodiya |
|
Designation : |
Chief Financial Officer |
|
Address : |
C/O, 2-8-32, Nehru Road, Kadrabad, Jalna – 431203, Maharashtra, India |
|
Date of Appointment : |
22.07.2016 |
|
PAN No.: |
AWAPG3125C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2018
|
Name of
Shareholders |
Number of Shares |
% Holding |
|
Promoter and Promoter Group |
3467815 |
20.22 |
|
Public |
13679855 |
79.78 |
|
Total |
17147670 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Cotton Yarn
Manufacturing in Textile Industry. [Registered Activity] |
|
|
|
|
Brand Names : |
Not Available |
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|
|
|
Agencies Held : |
Not Available |
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|
Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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|
|
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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 : |
Not Divulged |
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Bankers : |
· HDFC Bank Limited, Jalna ·
SCV Bank, Jalna |
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Facilities : |
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Auditors : |
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|
Name : |
C N A and Associates Chartered Accountants |
|
Address : |
Aurangabad, Maharashtra, India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
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|
|
|
Related Party : |
Gayatri Ginning and Pressing Private Limited [GGPPL] |
CAPITAL STRUCTURE
AS ON: 31.03.2018
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
INR 10/- each |
INR 400.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17147670 |
Equity Shares |
INR 10/- each |
INR 171.477 Million |
|
|
|
|
|
(a) Reconciliation of
the
|
Particulars |
Number of Shares |
|
Equity Shares outstanding at the beginning of the year |
17147670 |
|
Add: change during the year |
-- |
|
Equity Shares outstanding at close of the year |
17147670 |
(b) Terms/ rights
attached to equity shares
The Company has only one class of equity shares having par value of INR 10 per share. Each holder of equity share is entitled to one vote per share. The Company declare dividend in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval to the Shareholders in the ensuing Annual General Meeting.
During the year ended 31st March, 2018, the amount of per share dividend proposed, subject to approval of shareholders in annual general meeting, for to equity shareholders is INR 0.50 (Previous Year INR 0.050).
In the event of liquidation of the company, the holders of equity shares will be entitled to receive assets of the company. The distribution will be in proportion to the number of equity shares held by the shareholders.
(c) Aggregate number
of bonus shares issued, shares issued for consideration other than cash and
shares bought back during the period to five years immediately preceding the
reporting date:
Out of above equity shares, the Company had allotted 9467515 equity shares as fully paid up bonus shares by capitalization of profits transferred from securities Premium, pursuant to the resolution passed at the Board Meeting held dates on 25th March, 2010.
(d) Details of shareholders holding more than
5% shares in the Company:
|
Name of
Shareholders |
As On 31.03.2018 |
|
|
|
Number of Shares |
% Holding |
|
Anand Vyapar Private Limited |
3392500 |
19.78 |
|
Safford Merchantile Private Limited |
2285450 |
13.33 |
|
Rameshbhai Chotabhai Patel |
2251563 |
13.13 |
|
Ashva Multitrade Private Limited |
2065930 |
12.05 |
|
Rajesh Puranmal Bansal |
913125 |
5.33 |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
171.477 |
171.477 |
171.477 |
|
(b) Reserves & Surplus |
270.856 |
255.341 |
238.026 |
|
(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) |
442.333 |
426.818 |
409.503 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
138.352 |
158.220 |
80.145 |
|
(b) Deferred tax liabilities (Net) |
10.313 |
6.583 |
5.292 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
3.851 |
2.810 |
2.385 |
|
Total
Non-current Liabilities (3) |
152.516 |
167.613 |
87.822 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
364.791 |
340.114 |
163.928 |
|
(b)
Trade payables |
61.212 |
32.055 |
23.969 |
|
(c)
Other current liabilities |
67.503 |
64.694 |
54.655 |
|
(d)
Short-term provisions |
22.379 |
20.061 |
15.969 |
|
Total
Current Liabilities (4) |
515.885 |
456.924 |
258.521 |
|
|
|
|
|
|
TOTAL |
1110.734 |
1051.355 |
755.846 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
393.185 |
416.018 |
287.146 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
10.283 |
14.071 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
393.185 |
426.301 |
301.217 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
267.795 |
315.613 |
167.156 |
|
(c)
Trade receivables |
379.569 |
245.397 |
208.044 |
|
(d)
Cash and cash equivalents |
12.568 |
9.932 |
24.972 |
|
(e)
Short-term loans and advances |
21.813 |
21.617 |
21.367 |
|
(f)
Other current assets |
35.804 |
32.495 |
33.090 |
|
Total
Current Assets |
717.549 |
625.054 |
454.629 |
|
|
|
|
|
|
TOTAL |
1110.734 |
1051.355 |
755.846 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations [Net] |
1397.020 |
1145.124 |
1132.152 |
|
|
|
Other Income |
23.652 |
3.337 |
3.511 |
|
|
|
TOTAL |
1420.672 |
1148.461 |
1135.663 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1070.014 |
863.876 |
830.390 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(8.606) |
(7.695) |
10.459 |
|
|
|
Employees benefits expense |
70.964 |
52.990 |
39.994 |
|
|
|
Other expenses |
138.221 |
125.005 |
129.701 |
|
|
|
Extraordinary Items |
0.000 |
0.254 |
(0.284) |
|
|
|
TOTAL |
1270.593 |
1034.430 |
1010.260 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
150.079 |
114.031 |
125.403 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
33.965 |
18.891 |
28.660 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
116.114 |
95.140 |
96.743 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
74.305 |
57.233 |
69.029 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX |
41.809 |
37.907 |
27.714 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
15.975 |
11.106 |
-3.612 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX |
25.834 |
26.801 |
31.326 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
1.51 |
1.56 |
1.83 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Maturities of Long term debt |
47.857 |
48.146 |
38.571 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Inflow/ (Outlook) From Operating Activities |
106.705 |
(54.176) |
155.882 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
99.17 |
78.22 |
67.07 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
3.68 |
4.67 |
5.44 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
20.88 |
13.54 |
10.54 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.56 |
0.36 |
0.75 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.38 |
0.27 |
0.42 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.63 |
0.63 |
0.50 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
1.25 |
1.28 |
0.69 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
1.17 |
1.07 |
0.63 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.89 |
1.00 |
0.74 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
4.42 |
6.04 |
4.38 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
1.85 |
2.34 |
2.77 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
2.33 |
2.55 |
4.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
5.84 |
6.28 |
7.65 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2018 |
31.03.2017 |
31.03.2016 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.39 |
1.37 |
1.76 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.87 |
0.68 |
1.11 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.40 |
0.41 |
0.54 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
3.21 |
3.19 |
1.65 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.39 |
1.37 |
1.76 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
171.477 |
171.477 |
171.477 |
|
Reserves & Surplus |
238.026 |
255.341 |
270.856 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
409.503 |
426.818 |
442.333 |
|
|
|
|
|
|
long-term borrowings |
80.145 |
158.220 |
138.352 |
|
Short term borrowings |
163.928 |
340.114 |
364.791 |
|
Current Maturities of Long
term debt |
38.571 |
48.146 |
47.857 |
|
Total
borrowings |
282.644 |
546.480 |
551.000 |
|
Debt/Equity
ratio |
0.690 |
1.280 |
1.246 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
1132.152 |
1145.124 |
1397.020 |
|
|
|
1.146 |
21.997 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2016 |
31.03.2017 |
31.03.2018 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
1132.152 |
1145.124 |
1397.020 |
|
Profit/ (Loss) |
31.326 |
26.801 |
25.834 |
|
|
2.77% |
2.34% |
1.85% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
G83444364 |
100168241 |
The SVC Co-operative Bank Limited |
15/03/2018 |
- |
- |
60000000.0 |
Ground Floor, Plot No. 27,Bhokardan RoadJalnaMH431203IN |
|
2 |
G62674577 |
100093676 |
HDFC BANK LIMITED |
13/01/2017 |
06/07/2017 |
- |
150000000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
3 |
G31050669 |
100050775 |
SVC Co-Operative Bank Ltd. |
24/06/2016 |
28/11/2016 |
- |
150000000.0 |
Ground Floor, Plot No. 27,Bhokardan RoadJALNAMH431203IN |
|
4 |
C45333309 |
10552610 |
HDFC BANK LIMITED |
23/02/2015 |
- |
- |
361991000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
5 |
C78840170 |
10530526 |
HDFC BANK LIMITED |
30/10/2014 |
25/01/2016 |
- |
361991000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
6 |
C03976065 |
10496029 |
The Shamrao Vithal Coop Bank Ltd |
07/04/2014 |
- |
- |
66500000.0 |
Ground Floor, Plot No. 27, Bhokardan RoadJalnaMH431203IN |
|
7 |
C02920205 |
10489079 |
The Shamrao Vithal Co-operative Bank |
28/03/2014 |
- |
- |
66500000.0 |
The Shamrao Vithal Co-operative BankBhokardan RoadJalnaMH431203IN |
|
8 |
A87340006 |
10224223 |
HDFC BANK LIMITED |
07/05/2010 |
- |
- |
1790000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
9 |
C56196751 |
10343968 |
State Bank of India |
21/02/2012 |
- |
10/06/2015 |
456000000.0 |
INDUSTRIAL FINANCE BRANCH, JAGGI'S BUILDINGJALNA ROAD, KRANTI CHOWKAURANGABADMH431005IN |
|
10 |
C56199367 |
10035976 |
State Bank of India |
02/02/2007 |
14/06/2011 |
10/06/2015 |
456000000.0 |
INDUSTRIAL FINANCE BRANCH, JAGGI'S BUILDINGJALNA ROAD, KRANTI CHOWKAURANGABADMH431005IN |
OVERVIEW:
Subject was originally incorporated under the Companies Act, 1956, as private limited company. In the year 2010, the management decided to go for expansion and the company was converted into a public Limited company and consequently the name of the company was change to Laxmi Cotspin Limited pursuant to fresh certificate of incorporation issued by Registrar of Companies Mumbai, Maharashtra. LCL has spinning unit of 16,800 spindles and 48DR Ginning and Pressing unit at Samangaon, district Jalna (Maharashtra).
FIXED ASSETS:
· Land Building
· Electrical Installation
· Plant and Machinery
· Miscellaneous fixed assets
· Furniture and Fixture
·
Computer systems
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 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 67.44 |
|
UK Pound |
1 |
INR 89.89 |
|
Euro |
1 |
INR 79.00 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
NSG |
|
|
|
|
Report Prepared
by : |
RUP |
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.