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MIRA
INFORM REPORT
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Report Date : |
16.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
NARMADA
INFRASTRUCTURE (PRIVATE) LIMITED |
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Registered Office : |
Rudrakshi
Niwas, Behind Hotel Area, Miraj, Sangli
– 416410, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
13.11.2000 |
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Com. Reg. No.: |
11-015592 |
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CIN No.: [Company
Identification No.] |
U45203PN2000PTC015592 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
KLPN00810F |
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PAN No.: [Permanent
Account No.] |
AABCN4979M |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Company
is engaged in Providing Services Required for Building, Telecommunication
Network such as Row Assistance, Survey, Designing and Drawings and Civil
Construction etc. Additional
activity of Supplying Technical Manpower required by Telecom Company and also
Undertaken activity of Trading in Mosaic Tiles/ Pavers |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
40000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well – established company having satisfactory track. Trade relations
are fair. Financial position is satisfactory. The company is doing steady
business. It can
be considered good for normal business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
Rudrakshi
Niwas, Behind Hotel Area, Miraj, Sangli
– 416410, Maharashtra |
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Tel. No.: |
91-233-2644265 |
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Administrative
Office : |
M –
5/11, Varee Tiles Compound, MIDC, Kupwad, Sangli – 416436, Maharashtra |
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Tel.
No.: |
91-233-2644265 |
DIRECTORS
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Name : |
Mr.
Vasant V Choundikar |
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Designation : |
Director
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Name : |
Mr.
Rajeev M Kulkarani |
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Designation : |
Managing
Director |
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Name : |
Mr.
Vijay J Thakkar |
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Designation : |
Director
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Name : |
Mr.
Sachin S Kulkaria |
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Designation : |
Director
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KEY EXECUTIVES
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Name
: |
Mr.
Sachin Chhadwa |
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Designation
: |
Company
Secretary |
BUSINESS DETAILS
|
Line of Business : |
Company
is engaged in Providing Servicing Required for Building, Telecommunication
Network such as Row Assistance, Survey, Designing and Drawings and Civil
Construction etc. Additional
activity of Supplying Technical Manpower required by Telecom Company and also
Undertaken activity of Trading in Mosaic Tiles/ Pavers |
GENERAL
INFORMATION
|
Customers : |
v
Kaindee
Rail Nirman Engineers Private Limited, New Delhi v
Tata
Teleservices Limited v
Videsh
Sanchar Nigam Limited v
Erricson
India Private Limited v
Motorola
India Private Limited |
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No. of Employees : |
30 |
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Bankers : |
v
Indian
Bank v
Bank
of India v
HDFC
Bank v
Bank
of Baroda v
UTI Bank, Trishul 3rd
Floor, Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad –
380006 |
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Facilities : |
Secured Loan Bank of India HDFC Bank – Car Loan |
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Banking Relations : |
Satisfactory
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Auditors : |
Prasad
A Turamari Chartered
Accountant |
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Address: |
B R
Apartment, Blokare Gali, Miraj – 416410 |
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Tel. No.: |
91-233-2223160 |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
25000 |
Equity
Shares |
Rs. 100/- Each |
Rs. 2.500 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
21500 |
Equity
Shares |
Rs. 100/- Each |
Rs. 2.150 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
0.345 |
0.345 |
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2] Share Application Money |
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1.805 |
0.005 |
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3] Reserves & Surplus |
|
7.666 |
3.743 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
|
9.816 |
4.093 |
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LOAN FUNDS |
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1] Secured Loans |
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1.998 |
0.828 |
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2] Unsecured Loans |
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0.126 |
0.071 |
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TOTAL BORROWING |
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2.124 |
0.899 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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11.940 |
4.992 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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3.199 |
1.564 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.742 |
1.419 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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2.613 |
7.318 |
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Cash & Bank Balances |
|
2.514 |
0.274 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
|
5.060 |
4.066 |
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Total Current Assets |
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10.187 |
11.658 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities & Previsions |
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2.199 |
9.667 |
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Total Current Liabilities |
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2.199 |
9.667 |
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Net Current Assets |
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7.988 |
1.991 |
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MISCELLANEOUS EXPENSES |
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0.011 |
0.018 |
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TOTAL |
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11.940 |
4.992 |
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PROFIT
& LOSS ACCOUNT
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PARTICULARS |
|
31.03.2005 |
31.03.2004 |
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Sales Turnover [including other income] |
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8.621 |
8.379 |
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Profit/(Loss)
Before Tax |
|
3.097 |
5.139 |
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Provision
for Taxation |
|
1.133 |
1.775 |
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Profit/(Loss)
After Tax |
|
1.964 |
3.364 |
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Total
Expenditure |
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4.491 |
3.905 |
KEY
RATIOS
|
PARTICULARS |
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|
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
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22.78 |
40.14 |
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Net
Profit Margin (PBT/Sales) |
(%) |
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35.92 |
61.33 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
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23.13 |
38.86 |
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Return
on Investment (ROI) (PBT/Networth) |
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0.31 |
1.25 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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0.44 |
2.58 |
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Current
Ratio (Current
Asset/Current Liability) |
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4.63 |
1.20 |
LOCAL AGENCY
FURTHER INFORMATION
Fixed
Assets
v
Office
Equipments
v
Computer
Systems
v
Electrical
Machinery
v
Motor
Car
Director Report
During
the year company has earned to profit of Rs. 3.097 Millions as compared to Rs.
5.139 Millions during the previous year. At the and of the year, there was
various work orders completed but not certified as such profit on these works
were not booked. Their activity and turnover is steady and will increase to a
large except during the year.
Form 8 Particular for creation or modification of
charges
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Corporation identity number or foreign company registrations number of the company |
U45203PN2000PTC015592 |
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Name of the company |
NARMADA
INFRASTRUCTURE (PRIVATE) LIMITED |
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Address |
Kiran Bunglow, 224E Tarabaipark, Kolhapur, Maharashtra |
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This Form is for |
Creation Charge |
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Particular of the charge holder |
UTI Bank, Trishul 3rd Floor, Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad – 380006 E-Mail- cvkulkarni@vsnl.net |
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Name or description of the instrument creating charge |
Hypothecation Agreement dated 24.03.2006 |
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Date of the instrument creating charge |
24.03.2006 |
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Amount Secure by the charge |
Rs. 5.000 Millions |
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Description of the property charge whether it is a charge on |
Immovable, Stock in trade, Book Debts and other |
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
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.45.17 |
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UK
Pound |
1 |
Rs.85.24 |
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Euro |
1 |
Rs.57.89 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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|
--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
46 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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