%20PRIVATE%20LIMITED%20-%20MAHINDRA%2031-May-2007_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
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Report Date : |
31.05.2007 |
IDENTIFICATION DETAILS
|
Name : |
OVERSEAS INFRASTRUCTURE |
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Registered Office : |
Firoz Building, 2nd Floor, Opp. Bombay Royal Yatch, Club, 4,
Steven Street, Apolla Bunder, Colaba, Mumbai – 400039, Maharashtra |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
04.08.1989 |
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Com. Reg. No.: |
052900 |
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CIN No.: [Company
Identification No.] |
U65920MH1989PTC052900 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS37416B |
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PAN No.: [Permanent
Account No.] |
AABCS5629R |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Investment and Trading in Shares. |
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 |
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Maximum Credit Limit : |
USD 442000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory
track records. Directors are reported as experience and respectable
businessmen. Trade relations are reported as fair. Business is active.
Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
Firoz Building, 2nd Floor, Opp. Bombay Royal Yatch, Club, 4,
Steven Street, Apolla Bunder, Colaba, Mumbai – 400039, Maharashtra |
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Tel. No.: |
91-22-40435000 / 39429868 |
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E-Mail : |
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Corporate Office : |
102, |
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Branches : |
402,Shubham Centre 1, |
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Tel. No.: |
91-22-28252981 / 2 / 3 |
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Fax No.: |
91-22-28522125 |
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Mobile No. : |
91-9869219850 |
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E-Mail : |
Austine.sequeira@oialliance.com |
DIRECTORS
|
Name : |
Mr. Austine Sequeira |
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Designation : |
Director |
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Date of Birth/Age : |
09.04.1963 |
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Date of Appointment : |
12.02.2004 |
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Name : |
Mr. Purushottam Maheshwari |
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Designation : |
Whole Time Director |
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Date of Birth/Age : |
11.06.1957 |
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Date of Appointment : |
01.09.2005 |
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Name : |
Mr. Ramesh Chandra Sinha (IAS) |
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Designation : |
Director |
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Date of Birth/Age : |
27.05.1938 |
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Date of Appointment : |
30.06.2005 |
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Name : |
Mr. M.R. Abhore |
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Designation : |
Director |
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Date of Birth/Age : |
01.07.1946 |
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Date of Appointment : |
30.06.2005 |
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Name : |
Mr. Vidya Bhushan Soni |
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Designation : |
Whole Time Director |
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Date of Birth/Age : |
13.05.1942 |
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Date of Appointment : |
16.08.2005 |
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Name : |
Mr. Gangadhar Koppikar |
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Designation : |
Additional Director |
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Address : |
2/ 52, Vikasini Building, Behind YMCA, Sector 8 B, 5th
floor, Belapur, Konkan Bhavan, Navi Mumbai – 400514, Maharashytrs |
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Date of Birth/Age : |
15.10.1933 |
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Date of Appointment : |
06.01.2007 |
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Name : |
Vidya Bhusan Bankey LAl Soni |
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Designation : |
Director |
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Address : |
B-20, Pamposh enclave, G.K. Part – 1, |
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Date of Birth/Age : |
13.05.1942 |
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Date of Appointment : |
16.08.2005 |
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Name : |
Mr. Shailesh Vishnubhai Haribhakti |
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Designation : |
Director |
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Address : |
7, Firpos, 4th Floor, |
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Date of Birth/Age : |
30.03.2006 |
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Date of Appointment : |
26.12.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Yamuna Estate Private Limited |
95685 |
|
|
Akash Organics Private Limited |
123315 |
|
|
Allinone Finance & Investments Private Limited |
32000 |
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Equity Share Breakup
|
Category |
Percentage |
|
Bodies corporate |
99.99 % |
|
Total |
100 % |
BUSINESS DETAILS
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Line of Business : |
Investment and Trading Shares. |
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GENERAL INFORMATION
|
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No. of Employees : |
About 100 |
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Bankers : |
Indian Overseas
Bank 14 – 15, farm
Bhawan, Email : nehrubr@delsco.iobnet.co.in |
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Facilities : |
Unsecured Loans : From Shareholders & Others
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mehra & Sharma Associates Chartered Accountant |
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Address : |
503, Om Niketan, 5th Floor, |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
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|
405000 |
Equity Share |
Rs.100/- Each |
Rs.40.500 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
251000 |
Equity Share |
Rs.100/- Each |
Rs.25.100 millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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|
SHAREHOLDERS FUNDS |
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|
1] Share Capital |
25.100 |
25.100 |
25.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
85.461 |
85.461 |
85.467 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
110.561 |
110.561 |
110.567 |
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|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
0.477 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.477 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
|
|
|
|
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|
0.000 |
0.000 |
0.000 |
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TOTAL |
111.038 |
110.561 |
110.567 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.568 |
0.702 |
0.493 |
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Capital work-in-progress |
0.000 |
0.000 |
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INVESTMENT |
20.359 |
20.359 |
17.174 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000 |
0.000 |
0.000 |
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Sundry Debtors |
70.324 |
75.015 |
0.000 |
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Cash & Bank Balances |
0.968 |
0.314 |
0.000 |
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Other Current Assets |
0.000 |
0.000 |
76.428 |
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Loans & Advances |
0.862 |
9.088 |
19.502 |
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Total
Current Assets |
72.154 |
84.417 |
95.930 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
2.027 |
0.843 |
3.045 |
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Provisions |
0.143 |
0.004 |
0.000 |
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Total
Current Liabilities |
2.170 |
0.847 |
3.045 |
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Net Current Assets |
69.984 |
83.570 |
92.885 |
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MISCELLANEOUS EXPENSES |
19.127 |
5.930 |
0.015 |
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TOTAL |
111.038 |
110.561 |
110.567 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
|
|
Sales Turnover |
|
350.000 |
0.776 |
|
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Other Income |
|
|
0.000 |
|
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Total Income |
|
350.000 |
0.776 |
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Profit/(Loss) Before Tax |
|
62.969 |
0.131 |
|
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Provision for Taxation |
|
0.000 |
0.010 |
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Profit/(Loss) After Tax |
|
62.969 |
0.121 |
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Expenditures : |
|
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Cost of Goods Sold |
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|
0.000 |
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Manufacturing Expenses |
|
|
0.000 |
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Administrative Expenses |
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|
0.000 |
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Raw Material Consumed |
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|
0.527 |
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Purchases made for re-sale |
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|
0.000 |
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Consumption of stores and spares parts |
|
287.035 |
0.000 |
|
|
Increase/(Decrease) in Finished Goods |
|
|
0.000 |
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Salaries, Wages, Bonus, etc. |
|
|
0.090 |
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Managerial Remuneration |
|
|
0.00 |
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Payment to Auditors |
|
|
0.000 |
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Interest |
|
|
0.000 |
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Insurance Expenses |
|
|
0.000 |
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Power & Fuel |
|
|
0.000 |
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Depreciation & Amortization |
|
10.587 |
0.009 |
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Other Expenditure |
|
|
0.018 |
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Total Expenditure |
|
297.622 |
0.644 |
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%20PRIVATE%20LIMITED%20-%20MAHINDRA%2031-May-2007_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20MAHINDRA%2031-May-2007_files/image004.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
--
|
17.99 |
15.59 |
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Net Profit Margin (PBT/Sales) |
(%) |
---
|
17.99 |
16.88 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
---
|
73.97 |
0.13 |
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Return on Investment (ROI) (PBT/Networth) |
|
---
|
0.56 |
0.00 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.02
|
0.00 |
0.02 |
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Current Ratio (Current Asset/Current Liability) |
|
33.25
|
1.01 |
31.50 |
LOCAL AGENCY FURTHER INFORMATION
Key Focus Areas
- Agro
Processing and Floriculture
- Drugs and
Healthcare Products Distribution
- Integrated
Dairy Development
- Integrated
Sugar Development
- Lube Oil and
Mini Refinery
- Mini
Fertilizer
- Petrochemicals
and polyester
- Power
Generation, Transmission, Distribution and Billing
- Road and
Integrated Surface Transport
- Software
Driven Projects for E-governance, Security Solutions and Financial
Transaction Processing
- Water,
Sanitation and Drainage Management
An Unbeatable Force in the Area of Project Management & Engineering
Services
The Company is fully integrated to execute turnkey projects employing
state of are aids.
Majority of
The Company has pioneered the design, engineering and construction of
alcohol based chemical complexes.
The company own and operate petrochem complexes.
Project fabrication, viz. pipeline, tank farms, boilers, large refinery
jobs etc. you name it.
Form – 8
|
Corporate
identity number (CIN) Foreign company registration number |
U65920MH1989PTC052900 |
|
Name of the
Company |
Overseas
Infrastructure |
|
Address |
Firoz Building, 2nd Floor, Opp. Bombay Royal Yatch, Club,
4, Steven Street, Apolla Bunder, Colaba, Mumbai – 400039, Maharashtra |
|
This form is for |
Creation of
Charge |
|
Type of Charge |
b) Fixed and Current Assets |
|
Particulars of
the charge holder |
Indian Overseas
Bank 14 – 15, farm
Bhawan, Email : nehrubr@delsco.iobnet.co.in |
|
Nature or
Description of the instrument creating or modifying the charge |
Letter of
Hypothecation F 110 E, General Counter Guarantee F 286 E and DPN |
|
Amount secured by
the charge |
Rs.585.000
Millions |
|
Brief of the principal
terms and conditions |
a) Rate of Interest :Interest @BPLR+3.50%p.a.
with monthly rests. b) Terms of Repayment : Demand c) Margin : 25% d) Extent and Operation of the charge : 100 % e) Others : Commission @ 2.5 % p.a. plus
applicable Service Tax. |
|
Description of
the property charged indicating |
First Pari Passu
charge on Fixced & Current of the Ethiopian Project, (Material stock in
transit) with Exim Bank. |
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.64 |
|
|
1 |
Rs.80.44 |
|
Euro |
1 |
Rs.54.65 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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 |
|