%20LIMITED%2008-Dec-2007_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
08.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
TAHER ALI INDUSTRIES AND PROJECTS (PRIVATE) LIMITED |
|
|
|
|
Registered Office : |
6-3-1098/1/1, Block No. – 102, 103, 301, Pavani Avenue, ADJ Villa Marie
Girls Collage, Rajbhavan Road, Hyderabad – 500082, Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Date of Incorporation : |
28.01.1997 |
|
|
|
|
Com. Reg. No.: |
026271 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U45200AP1997PTC026271 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer and Trader of all kind of engineering, pipes and pipeline
works in cement, steel, fibreglass. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject appears to be an established company having satisfactory
track. Trade relations are fair. Financial position is reported as
satisfactory although no detail financials are yet available since
incorporation of the company. Payments are reported as slow but correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered/Corporate Office : |
6-3-1098/1/1, Block No. – 102, 103, 301, Pavani Avenue, ADJ Villa Marie
Girls Collage, Rajbhavan Road, Hyderabad – 500082, Andhra Pradesh, India |
|
Tel. No.: |
91-40-66755130/31/32 |
|
Fax No.: |
91-40-66755133 |
|
E-Mail : |
DIRECTORS
|
Name : |
Mr. Ali Taher |
|
Designation : |
Managing Director |
|
Address : |
7-1-28/4/A/1, Leela Nagar, Ameerapet, Hyderabad – 500016,
Andhrapradesh |
|
Date of Birth/Age : |
18.07.1943 |
|
Date of Appointment : |
28.01.1997 |
|
|
|
|
Name : |
Mr. Rehman Mottiur Mohd |
|
Designation : |
Director |
|
Address : |
7-1-28/4/A/1, Leela Nagar, Ameerapet, Hyderabad – 500016,
Andhrapradesh |
|
Date of Birth/Age : |
25.08.1969 |
|
Date of Appointment : |
28.01.1997 |
|
|
|
|
Name : |
Mr. Rehman Abdul Mohd |
|
Designation : |
Director |
|
Address : |
7-1-28/4/A/1, Leela Nagar, Ameerapet, Hyderabad – 500016,
Andhrapradesh |
|
Date of Birth/Age : |
25.04.1972 |
|
Date of Appointment : |
28.01.1997 |
|
|
|
|
Name : |
Mr. Rehman Shakeel Mohd |
|
Designation : |
Director |
|
Address : |
7-1-28/4/A/1, Leela Nagar, Ameerapet, Hyderabad – 500016,
Andhrapradesh |
|
Date of Birth/Age : |
16.11.1974 |
|
Date of Appointment : |
28.01.1997 |
|
|
|
|
Name : |
Mr. Jalaram Balasubramaniyam Iyer |
|
Designation : |
Director |
|
Address : |
11-3-397, Srinivas Nagar Colony, Sithapalmandi, Hyderabad – 500061,
Andhra Pradesh, India |
|
Date of Birth/Age : |
07.06.1949 |
|
Date of Appointment : |
28.08.2007 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Mr. Ali Taher |
|
100 |
|
Mr. Rehman Mottiur Mohd |
|
100 |
|
Mr. Rehman Abdul Mohd |
|
100 |
|
Mr. Rehman Shakeel Mohd |
|
100 |
|
|
|
|
|
Total: |
|
400 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of all kind of engineering, pipes and pipeline
works in cement, steel, fibreglass. |
|
|
|
|
Products: |
|
GENERAL
INFORMATION
|
Customers : |
|
|
|
|
|
Bankers : |
State Bank of India,
Industrial Finance Branch, Somajiguda, Hyderabad –500035, Andhra Pradesh,
India |
|
Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity shares |
Rs.10/- each |
Rs.70.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3743200 |
Equity shares |
Rs.10/- each |
Rs.37.432
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
Brief financials could be made available from
other sources.
Management remained non-cooperative during
current investigations.
SUMMARISED FIGURES
AS ON 31.03.2005
|
Particulars |
31.03.2005 |
|
|
|
|
Soures of Funds |
|
|
Paid up Capital |
65.725 |
|
Reserves and Supplus |
100.514 |
|
Secured Loans |
109.201 |
|
Application of funds |
|
|
Net Fixed Assets |
136.836 |
|
Investments |
49.939 |
|
Net Current Assets |
149.625 |
|
Miscellaneous Expenditure |
0.130 |
|
|
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2005 |
|
|
Sales Turnover |
|
|
1047.946 |
|
|
Other Income |
|
|
0.000 |
|
|
Total Income |
|
|
1047.946 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
|
56.272 |
|
|
Provision for Taxation |
|
|
5.750 |
|
|
Profit/(Loss) After Tax |
|
|
50.522 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Power & Fuel |
|
|
0.000 |
|
|
Depreciation & Amortization |
|
|
0.000 |
|
|
Other Expenditure |
|
|
957.726 |
|
Total Expenditure |
|
|
957.726 |
|
LOCAL AGENCY
FURTHER INFORMATION
Form
8:
|
Corporate
identity number (CIN) Foreign company registration number |
U45200AP1997PTC026271 |
|
Name of the
Company |
TAHER ALI INDUSTRIES AND PROJECTS (PRIVATE) LIMITED |
|
Address |
7-1-58, Unit 5, First
Floor, Ramrutha Business Complex, Ameerpet, Hyderabad – 500016, Andra Pradesh |
|
This form is for |
Modification of
charge |
|
Type of Charge |
|
|
Particulars of
the charge holder |
State Bank of
India Industrial
Finance Branch, Somajiguda, Hyderabad – 500035, Andhra Pradesh, India |
|
Nature or
description of the instrument(s) creating or modifying the charge |
Memorandum for
recording creation of mortgage by deposit of title deeds. |
|
Date of the
instrument creating or modifying the charge |
22.08.32007 |
|
Amount secured by
the charge |
Rs.1200.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
|
|
Short particulars
of the property charged (including location of the property) |
All tangible
movable assets of the compan, stocks, book debts, movable and immovable
property of the company and also guarantee from the promoters. |
|
Particular of the
present modification |
The Present limit
of Rs.1200.000 Millions further secured by mortgage by deposit of title deeds
of various properties as specified in the memorandum recording creation of
charge dated the 22.08.2007 |
|
Name of the company |
TAHER ALI INDUSTRIES AND PROJECTS (PRIVATE) LIMITED |
|
Presented By |
Mr. M. R. Rehman |
|
1) Date and description of instrument creating the change |
14.06.2001 Deed of
Hypothecation |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.33.500
Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
An exicluave
charge by way of hypothecation of the machinery (More particularly described
in sheadul I, together with machinery spares, tools and accessoriies, present
and future, pertaining to the said machinery, acquired and/or to be acquired
by the borrower out of the loan. A first charge by
way of hypothecation of the whole of the book debts, stock of raw materials,
semi-finished and finished goods, work in progress, consumable stores
bothpresent and future whether now lying looserin casses or which are now
lying or storedin or about or to brough into upon or to be stored or be in or
about at the borrowers factory premises and godowns situated at Punalkulam,
Tanjvore. Collateral
Security: On equitable
mortage of land and building and machinery valued at Rs. 23.999 Millions |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest @ 21%
with quarterly rests. |
|
5) Name and Address and description of the person entitled to the charge. |
IVRDL
Infrastructures and Projects Limited M – 22/3 RT,
Vijay Nagar Colony, Hyderabad – 500057 |
|
6) Date and brief description of instrument modifying the charge |
N.A. |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
N.A. |
Website details:
Subject was established in 1997-98 under the aegis of Mr
Taher Ali, Chairman and Managing Director, a first generation industrialist,
entrepreneur who has a committed vision of making the company a global leader
in infrastructure development.
Under the able guidance of Mr.Taher Ali along with vibrant well-qualified work
force of over 400 professionals with cutting edge technological skills, , the
company is one among the top infrastructure development companies of South
India with ISO :9001-2000 Certification specialized in the execution of EPC
contracts for large turnkey Water Supply, Irrigation and Sewerage projects
including Construction of Water Treatment Plants, Reservoirs, Pump Houses,
Intake wells, Sewerage Treatment Plants and other allied works.
The company is well equipped with sophisticated factories
all over India to manufacture larger diameter mild steel cement lined and
outcoated Pipes (MS), Prestressed Concrete pipes (PSC), Bar Wrapped Steel
Cylindrical Pipes (BWSC) Prestressed Concrete Cylindrical Pipe (PCCP). The
Company has substantially and considerably contributed to the efficacious
drinking water supply at national level. It is anticipated as per the company's
expansion plan the turnover of the company shall reach its target of Rs.1000.00
crores (US$ 212.09 Millions )as its annual turnover by the financial year
2009-10
Subject was shortlisted in the top positions among more than 5000 companies
from all over India for the honour of fastest growing industrial development
corporation in SME sector organized by CNBC Tv18, ICICI Bank Limited and
M/s.CRISIL.
Products:
Design and construct large turnkey water supply, lift
Irrigation and comprehensive sewerage projects.
Design manufacturing and laying of larger diameter Mild
steel (MS) / Prestressed concrete pipes (PSC) / Bar wrapped steel cylindrical
pipes(BWSC) / Prestreesed concrete cylindrical pipes(PCCP) / Reinforced
concrete pipes(RCC).
Construction of Water treatment plants, Sewerage treatmentp,
Reservoirs, Pump houses, Intake wells with allied Electrical and Mechanical
works.
Financials:
|
S. No |
Financial Year |
Networth |
Turnover |
||||
|
|
|
|
|
||||
|
|
|
|
|
||||
|
1 |
2003-04 |
|
|
||||
|
2 |
2004-05 |
|
|
||||
|
3 |
2005-06 |
|
|
||||
|
4 |
2006-07* |
|
|
||||
|
5 |
2007-08* |
|
|
||||
|
6 |
2008-09* |
|
|
||||
|
7 |
2009-10* |
|
|
|
Project
Turnover Note : The Networth and Turnover is inflated @ 10% per annum |
Achievement:
World’s
Second Biggest Lift Irrigation Scheme
Devadulla
Lift Irrigation Project
The company has got the privilege of being awarded the prestigious
project of devadulla lift irrigation project, warangal, which is the second
biggest lift irrigation project in the world as the first being in USA, and is
one among the eight top priority projects identified by the Government of
Andhra Pradesh. The total cost of first phase of the project is around
Rs.9000.000 Millions and the portion of.Subject is around Rs.1480.000 Millions.
Asia's
Highest Lift Irrigation Scheme
Tembhu
Lift Irrigation Scheme
Subject has the honour of executing the asia's highest lift
Irrigation scheme of Maharashtra Krishna Valley development corporation. The
scope of the work includes manufacturing and laying of 2500mm / 2200mm dia MS
Pipeline for a length of 5243 Rmt. The said project was completed in 75% of the
contract period and They were awarded cash incentive of 5% of the total project
cost.
India's
Fastest Pipeline Scheme
Krishna
Water Supply Scheme (Stage-1, Phase-1)
To meet the growing demand of the twin cities of Hyderabad,
HMWSSB planned the krishna drinking water supply project in three phases. The
Phase-1 of the Krishna Project was grounded on 1st November 2002 and
successfully completed and commissioned in March 2004 i..e, 6 months ahead of
schedule. Subject has played a major role in completion of this dream project
of Hyderabad by executing the work of manufacturing, supply, laying, jointing
and commissioning of 2200mm dia MS pipes for a length of 30 Kms. Early
completion incentives was awarded and as a gesture of appreciation the hon'ble
minister for municipal administration Mr.K.Ranga Rao, presented a memento and a
certificate to the company.
India’s
Biggest Psc Pipe Manufacturing Factory
Tanjavore
Factory, Tamilnadu
India’s biggest PSC pipe manufacturing factory situated at
Punalkulam village, Tanjavore, Tamilnadu, with a capacity to manufacture more
than 100 pipes a day of diameter ranging from 350mm to 1100mm having the
company’s own sophisticated machineries.
Vedaranyam
Combined Water Supply Scheme
Recognition
Recognition for successfully completion of water supply
project for providing water supply to 210 habitations in the districts of
tiruvarur, nagapatnam, and tanjavore from tamilnadu urban water supply and
drainage board for a total value of Rs.1010.000. The scope of the work includes
manufacturing, supplying, laying, jointing of PSC Pipes ranging from 350mm dia
to 1400mm dia for a total length of 270 Kms which is one of the largest of its
kind in India.
Rashtriya
Samman
Highest
& Prompt Tax Payee
Mr.Taher Ali, Chairman and MD, was conferred with the
highest tax payer for which he was awarded with “Rashtriya Samman” for the year
1997-98, to 2001-02 by Income Tax Department as the highest and prompt Income
tax payer.
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.39.41 |
|
UK Pound |
1 |
Rs.79.81 |
|
Euro |
1 |
Rs.57.58 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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. |
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 |
|