MIRA
INFORM REPORT
|
Report Date : |
17.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SHAPOORJI
PALLONJI AND COMPANY LIMITED |
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|
|
|
Registered Office : |
No. 70, Nagindas Master Road, Fort, Mumbai – 400023, Maharashtra |
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Country : |
India |
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|
Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
23.01.1943 |
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Com. Reg. No.: |
11-3812 |
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CIN No.: [Company
Identification No.] |
U45200MH1943PTC003812 |
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PAN No.: [Permanent
Account No.] |
AAACS6994C |
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Legal Form : |
A closely held public limited liability company |
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Line of Business : |
Large construction company dealing
with interiors – [Importers and Exporters] |
RATING &
COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Maximum Credit Limit : |
USD 6900000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established company having fine track. Available information
indicates high financial responsibility of the company. Trade relations are
fair. Financial position is good. Payments are correct and as per
commitments. The
company can be considered good for any normal business dealings. It
can be regarded as a promising business partner in a medium to long run.
Fundamentals are strong and healthy. |
LOCATIONS
|
Registered Office : |
No. 70, Nagindas Master Road, Fort, Mumbai – 400023, Maharashtra,
India |
|
Tel. No.: |
91-22-22871040 |
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Fax No.: |
91-22-56338176 |
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Administrative Office : |
Shapoorji Pallonji Centre, 41/44, MINOO Desai
Marg, Colaba, Mumbai - 400 005, Maharashtra, India |
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Tel. No.: |
91-22-22871040/41/22870197 |
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Fax No.: |
91-22-56338176 |
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E-Mail : |
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Corporate
office : |
36, 2nd
Floor, 1st Main Road, CIT Nagar, Above SBI Bank, Chennai, Tamilnadu,
India |
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Tel. No.: |
91-44-24341555 |
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|
|
|
Kolkata - EPC Office : |
Mira
Tower, 2nd Floor, D.N. 27, Sector V, Salt Lake, Kolkata-700091 West Bengal
India |
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Tel
No.: |
91-33
- 2367 5245 / 46 / 47 |
|
Email
: |
atanu.ranjan@shapoorji.com
[Mr. Atanu Ranjan] |
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|
|
|
Regional Office : |
C/o
Cyrus Investments, 2nd Floor, Esplanade House, Hazarimal Somani Marg, Near Alexandra
School, Fort, Mumbai-400001 Maharashtra India |
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Tel
No.: |
91-22-66695700 |
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Email
: |
paras.vishwakarma@shapoorji.com [Mr.Vishvakarma] |
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|
|
|
Human Resources Department : |
Gresham House 4th Floor Sir PM Road Fort Mumbai-400001 |
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Tel. No.: |
91-22-67490000 |
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Fax No.: |
91-22-22662997 |
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Email
: |
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Showroom : |
54, Abdul
Rehman Street, Mumbai – 400 003, Maharashtra |
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Tel. No.: |
91-22-23421770 |
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Fax No.: |
91-22-23421517 |
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Overseas
Office: |
Located
at :
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Branches : |
Located at :
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DIRECTORS
|
Name : |
Mr. Pallonji
Shapoorji Mistry |
|
Designation : |
Chairman and President |
|
Address : |
903, Twin Towers,
Baniyas Street, P. O. Box 3389, Deira Dubai, United Arab Emirates |
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Date of Birth/Age : |
01.06.1929 |
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Date of Appointment : |
07.04.1956 |
|
Other Directorship : |
Ø
Afcons
Infrastructure Limited [CIN No.: U45200MH1976PLC019335] Ø
Shapoorji Pallonji and Company Limited [CIN No.: U45200MH1943PTC003812] Ø
Pallonji
Shapoorji and Company Private Limited [CIN No.: U45200MH1951PTC008529] Ø
Cyrus
Investments Limited [CIN No. : U65920MH1923PLC001053] Ø
Shapoorji
Pallonji Finance Limited [CIN No.: L65920MH1994PLC077480] Ø
Shapoorji
Pallonji Infrastructure Capital Company Limited [CIN No.: U65990MH1997PLC108596]
Ø
Shapoorji
Pallonji Power Company Limited [CIN No.: U31100MH1995PLC084278] Ø Forbes Gokak Limited [CIN No.: L17110MH1919PLC000628] Ø United Motors
(India) Limited [CIN No.: U28100MH1920PLC000807] Ø Forvol
International Services Limited [CIN No.: U55100MH1977PLC019660] Ø Gokak Textiles
Limited [CIN No. U17116KA2006PLC038839] |
|
|
|
|
Name : |
Mr. Shapoor Pallonji Mistry |
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Designation : |
Managing Director |
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Address : |
Sterling Bay, 103, Walkeshwar Road, Mumbai – 400 006,
Maharashtra |
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Date of Birth/Age : |
06.09.1964 |
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Date of Appointment : |
22.04.1987 |
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|
|
|
Name : |
Mr. Cyrus Pallonji Mistry |
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Designation : |
Managing Director |
|
Address : |
Sterling Bay, 103, Walkeshwar Road, Mumbai – 400 006,
Maharashtra |
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Date of Birth/Age : |
04.07.1968 |
|
Date of Appointment : |
27.03.1991 |
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|
|
|
Name : |
Mr. Khushroo Burjor Captain |
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Designation : |
Director |
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Address : |
D/4, Palm Springs, Cuffe Parade, Colaba, Mumbai – 400 005,
Maharashtra |
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Date of Birth/Age : |
24.04.1930 |
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Date of Appointment : |
18.07.1984 |
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|
|
|
Name : |
Mr. Firoze Kavshah Bhathena |
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Designation : |
Director |
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Address : |
C/203, Shapoorji Pallonji Mistry Building, Dr. D.K.
Shirodkar Road, Parel, Mumbai – 400 012, Maharashtra |
|
Date of Birth/Age : |
18.07.1948 |
|
Date of Appointment : |
18.07.1984 |
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|
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|
Name : |
Mrs. Jimmy Jehangir Parakh |
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Designation : |
Director |
|
Address : |
Rajni Mahal, Flat No. 602, Opposite Airconditioned Market,
89-95, Tardeo Road, Mumbai - 400 034, Maharashtra |
|
Date of Birth/Age : |
01.10.1949 |
|
Date of Appointment : |
22.04.1987 |
|
|
|
|
Name : |
Mr. Patsy Pallonji Mistry |
|
Designation : |
Director |
|
Address : |
Sterling
Bay, 103 Walkeshwar Road, Walkeshwar, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
19.09.1939 |
|
Date of Appointment : |
31.03.2007 |
|
Other Directorship : |
Shapoorji Pallonji [Gwalior] Private Limited CIN No.: U51900MH1944PTC020365 |
KEY EXECUTIVES
|
Name : |
Mr. Roshen Minocher Nentin |
|
Designation : |
Secretary |
|
Address : |
King’s Building, Dr. Ambedkar Road, Parel, Mumbai – 400012,
Maharashtra, India |
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Date of
Birth/Age : |
12.12.1952 |
|
Date of
Appointment : |
20.10.1978 |
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|
|
|
Name : |
Mr. H. J. Tavaria |
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Designation : |
Director - Finance & Systems |
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|
Name : |
Mr. R. A. Jain |
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Designation : |
Director - Building Products Division |
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|
Name : |
Mr. M. D. Saini |
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Designation : |
Director - Operations |
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|
Name : |
Brigediator A. R. Sinha |
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Designation : |
CEO - Real Estate |
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|
Name : |
M. S. Hingorani |
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Designation : |
Director- Corporate Affairs |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Mr.
Shapoor P. Mistry |
|
8110 |
|
Mr.
Cyrus P. Mistry |
|
8110 |
|
Pallonji
Shapoorji & Company Private Limited |
|
7800 |
|
Shapoorji
Pallonji and Company [Rajkot] Limited |
|
34440 |
|
Shapoorji
& Company [Rajkot] Private Limited |
|
14760 |
|
S.P.
Finance Private Limited |
|
4190 |
|
SC
Finance & Investments Private Limited |
|
4190 |
|
Silver
Streats Investments Private Limited |
|
400 |
|
Total |
|
82000 |
AS ON 30.09.2007
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
80.22 |
|
Directors
or relatives of directors |
|
19.78 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Large construction company
dealing with interiors – [Importers and Exporters] |
GENERAL
INFORMATION
|
No. of Employees : |
7000 |
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|
|
|
Bankers : |
· Union Bank of India
·
State Bank
of Mauritius (Joint Venture), Mauritius
|
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|
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Banking
Relations : |
Satisfactory |
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Auditors : |
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|
Name : |
C. C. Chokshi and Company Chartered
Accountants |
|
Address : |
12, Dr. Annie
Beseant Road, Opposite Shiv Sagar Estate, Worli, Mumbai – 400018,
Maharashtra, India |
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|
|
|
Associates/Subsidiaries : |
Ø S. P. Corporation Ø
Advance Tech
Energy Additives Private Limited Ø
Pallonji
Shapoorji & Company Private Limited Ø
Shapoorji
& Company Private Limited Ø Shapoorji Pallonji & Company (Kajkoi)
Private Limited Ø
Abhipreet
Investment Private Limited Ø
Abhipreet
Trading Private Limited [CIN No.:
U65990MH1988PTC049620] Ø
Magpie
Finance Private Limited Ø
Afcons
(overseas) Construction & Investment Private Limited Ø
Meriiand
Estates Private Limited Ø
Afcons Arethusa
Offshore services Private Limited Ø
The Manjri
Stud Farm Private Limited [CIN No.:
U01211MH1939PTC003017] Ø
Afcons BOT
Construction Private Limited Ø
Miivin
Investments Private Limited Ø
Afcons
Dredging and Marine Services Limited Ø
Palchim Real
Estate Private Limited Ø
Afcons
Infrastructure Limited [CIN No.:
U45200MH1976PLC019335] Ø
Ramili
Investment Private Limited Ø
Afcons
Pauling (India) Limited Ø
Sachin Real
Estate Private Limited Ø
Aquamall
Water Solution Limited Ø
S C Impex
Private Limited Ø
Cama Properties
Private Limited Ø
Shapoorji Pallonji & Company Limited [CIN No.:
U45200MH1943PTC003812] Ø
Shapoorji
& Company Private Limited Ø
Chinsha
Property Private Limited Ø
Shapoorji
Data Processing Private Limited Ø
Cyrus
Chemicals Private Limited [CIN No.: U24110MH1978PTC020720] Ø
Shapoorji
Drilling Enterprises Private Limited Ø
Cyrus
Engineers Private Limited [CIN No.:
U28920MH1979PTC021425] Ø
Shapoorji
Pallonji [Gwalior] Private Limited [CIN
No.: U51900MH1944PTC020365] Ø
Cyrus
Investments Limited [CIN No. : U65920MH1923PLC001053] Ø
Shapoorji
Pallonji Finance Limited Ø
Delna
Finance & Investments Private Limited Ø
Shapoorji
Pallonji Infrastructure Capital Company Limited [CIN No.:
U65990MH1997PLC108596] Ø
Eureka
Forbes Limited Ø
Shapoorji
Pallonji Power Company Limited [CIN No.:
U31100MH1995PLC084278] Ø
FAL
Industries Limited Ø
Faery
Estates Private Limited Ø
Floral
Finance Private Limited [CIN No.:
U65990MH1989PTC050954] Ø
Floreal
Investment Private Limited [CIN No.:
U65990MH1989PLC050983] Ø
Flotilla Finance
Private Limited [CIN No.:
U65970MH1989PTC050983] Ø
Forbes
Finance Limited (Formerly Forbes Estate Limited) Ø
Forbes Gokak
Limited [CIN No.:
L17110MH1919PLC000628] Ø
Hazarat
& Company Private Limited Ø
Kier Afcons
(India) Limited Ø
Latham India
Limited Ø
Shapoorji
Pallonji Ports Private Limited Ø
Slums
Building Services Private Limited Ø
SP Aluminium
System Private Limited Ø
SP
Architeural Coatings Limited Ø
SP
Fabricators Private Limited Ø
SSS
Electrical (India) Limited Ø
Sterling
Investment Corporation Private Limited
[CIN No.: U70100MH1943PTC003997] Ø
Sunny View
Estates Private Limited Ø
Tensacciai
India Limited Ø
Volkart
Fleming Shipping & Services Limited Ø
Shapoorji
Pallonji Finance Limited [CIN No.:
L65920MH1994PLC077480] Ø
United
Motors (India) Limited [CIN No.:
U28100MH1920PLC000807] Ø
Pallonji
Shapoorji and Company Private Limited [CIN
No.: U45200MH1951PTC008529] Ø
Forvol
International Services Limited [CIN No.:
U55100MH1977PLC019660] Ø
Gokak
Textiles Limited [CIN No. U17116KA2006PLC038839] Ø Shapoorji Pallonji [Gwalior]
Private Limited CIN No.: U51900MH1944PTC020365 |
|
|
|
|
Joint Venture : |
Ø
LCI Ø L & T |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
820,000 |
Ordinary Shares |
Rs. 10/- each |
Rs. 8.200 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
8.200 |
8.200 |
8.200 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1714.502 |
1287.143 |
1064.764 |
|
|
4] (Accumulated Losses) |
1722.702 |
1295.343 |
1072.964 |
|
|
NETWORTH |
|
|
|
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1429.989 |
545.861 |
617.610 |
|
|
2] Unsecured Loans |
2466.701 |
2238.396 |
1263.966 |
|
|
TOTAL BORROWING |
3896.690 |
2784.257 |
1881.576 |
|
|
DEFERRED TAX LIABILITIES |
23.329 |
43.043 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5642.721 |
4122.643 |
2954.540 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1441.942 |
947.674 |
651.706 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
898.651 |
|
|
|
|
|
|
|
|
INVESTMENT |
737.692 |
737.559 |
734.639 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1592.278
|
1113.741 |
659.148
|
|
|
Sundry Debtors |
5500.619
|
2792.210 |
1510.231
|
|
|
Cash & Bank Balances |
1605.957
|
1212.015 |
177.759
|
|
|
Other Current Assets |
1259.431
|
1071.535 |
24.036
|
|
|
Loans & Advances |
3299.228
|
1372.174 |
960.278
|
|
Total
Current Assets |
13257.513
|
7561.675
|
3331.452 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
9717.056
|
5066.885 |
2619.004
|
|
|
Provisions |
77.370
|
57.380 |
42.904
|
|
Total
Current Liabilities |
9794.426
|
5124.265 |
2661.908 |
|
|
Net Current Assets |
3463.087
|
2437.410 |
669.544 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5642.721 |
4122.643 |
2954.540 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
16349.211 |
10593.581 |
8543.912 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
677.574 |
296.067 |
94.934 |
|
|
Provision for Taxation |
0.000 |
0.000 |
40.699 |
|
|
Profit/(Loss) After Tax |
677.574 |
296.067 |
54.235 |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency : |
NA |
NA |
17.911 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Interest |
343.116 |
187.169 |
|
|
|
Depreciation |
203.758 |
130.069 |
8449.518 |
|
|
Other Expenditure |
15124.764 |
9980.276 |
|
|
Total Expenditure |
15671.638 |
10297.514 |
8449.518 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
4.14
|
2.79 |
0.63
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.14
|
2.79 |
1.11
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.61
|
3.48 |
2.38
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39
|
0.23 |
0.09
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
7.95
|
6.11 |
4.23
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35
|
1.48 |
1.25
|
LOCAL AGENCY
FURTHER INFORMATION
Business
Subject
is engaged into construct, execute, carry out, improve work, develop,
administer, repair, manage or control in India and any part of the world
suitable works of conveniences of all kinds which expression in this memorandum
includes railways, docks, harbours, piers, wharves, canals, reservoirs,
embankments, Irrigations, Improvement, sewage, drainage, sanitary, water, gas,
electric light etc.
The
company’s activities are restricted to Trading, Finance, Investment and Civil
Engineers (within the country) under the requirements of section 217 (1) (e) of
the companies Act, 1956 read with the company’s Disclosure of particulars in
the Report of the Board of Directors Rules 1988, in regard to conversation of
energy and Technology absorption are not relevant and no particulars arise in
the company’s case.
Bankers Charges
Report as per Registry
|
Name of the company |
SHAPOORJI PALLONJI AND COMPANY
LIMITED |
||||||||||||||||||||||||||||||||
|
Presented By |
Bharat Overseas
Bank Limited, Fort, Mumbai – 23 |
||||||||||||||||||||||||||||||||
|
1) Date and description of instrument creating the change |
04.11.2004 Term Loan
Agreement Letter of
Hypothecation Hypothecation
Agreement for Vehicles All dated 4th
November 2004 and relate to a single charge. |
||||||||||||||||||||||||||||||||
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 100.000
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 |
Hypothecation by
way of first charge all machineries including all fittings, fixtures,
furniture, tools, accessories and parts whatsoever pertaining to the
machinery and all replacement of or additions made to the machinery from time
to time, more specifically. All the assets
acquired out of existing term loan with Bharat Overseas Bank Limited of Rs.
100 Millions covered by Term Loan agreement dated 21.12.2001 and related
supplementary agreement. All the
machineries descried below, invoiced at Rs. 10.975 millions and covered by
this Term loan Agreement and any other machinery to be acquired in future
through this Medium Term Loan from time to time covered by supplemental
agreements to be executed from time to time.
All vehicles including
chassis riders, cranes and other mobile equipments purchased out of this term
loan and existing term loan dated 21.12.2001 and registered under Motor
vehicles Act. |
||||||||||||||||||||||||||||||||
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The Bank shall
have a floating first charge on all the machinery and equipments present and
future and a fixed charge on all machineries, equipments, present and future
and a fixed charge on all machineries, equipments, vehicles purchased or to
be purchased out of this term loan or out of the existing term loan covered
by the Term Loan agreement dated 21.12.2001 The above charge
operates as security for the due repayment by the company to the Bank for its term Loan of Rs. 100 Millions
together with interest additional interest, costs, charges, expenses and
other moneys payable by the company to the Bank in terms and terms loan
agreement. Rate of interest
: BPLR 3 % with a minimum of 8 % p.a. or at such other rates as may be
notified by the Bank from time to time calculated on daily balances with
monthly rate. Repayment : 20
equated quarterly installments of Rs. 5.000 Millions each commencing from
August 2005. |
||||||||||||||||||||||||||||||||
|
5) Name and Address and description of the person entitled to the charge. |
Bharat Overseas Bank Limited, Bharat Chamber, 22/26 K
Dubash Marg, Rampart Row, kalaghoda Fort, Mumbai – 400023 |
||||||||||||||||||||||||||||||||
|
6) Date and brief description of instrument modifying the charge |
23.03.2005 Supplemental
agreement dated 23.03.2005 |
||||||||||||||||||||||||||||||||
|
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. |
Hypothecation of the
following machineries, purchased / to be purchased out of the Term Loan of
Rs. 100 Millions.
As additional security
for the said term loan. All other terms and conditions remain the same. |
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U45200MH1943PTC003812 |
|
Name of the
company |
SHAPOORJI
PALLONJI AND COMPANY LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
# 70, Nagindas
Master Road, Fort, Mumbai - 400 023, Maharashtra |
|
Type of charge |
Movable Property |
|
Particular of charge
holder |
Kotak Mahindra
Bank Limited 36-38 A, Nariman
Bhavan 227, D, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
Nature of description
of the instrument creating or modifying the charge |
Deed of
hypothecation |
|
Date of
instrument Creating the charge |
31.08.2007 |
|
Amount secured by
the charge |
Rs. 200.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest rate is
floating. It is linked to the Bank’s Benchmark prime Lending Rate Terms of
Repayment By way of Monthly
Installment Extent and
Operation of the charge First and exclusive
charge by way of Hypothecation in favour of KMBL on the assets financed |
|
Short particulars
of the property charged |
The Borrower’s
assets both present and future, which is acquired / arising or to be acquired
/ created / arising from the financial facility provided by the Kotak
Mahindra Bank Limited |
FIXED
ASSETS
Ø
Land
Ø
Ownership
Premises
Ø
Building on
Freehold Land
Ø
Flats in
cooperative Housing Society
Ø
Staff Quarters
Ø
Machinery
Ø
Furniture and
Fixture
Ø
Motor Car
Ø
Motor Trucks
Ø
Motor Cycles
Ø
Office
Equipments
Ø
Computer
AS PER WEBSITE
Profile
140 years ago Mumbai was largely
an uninhabited cluster of islands. To fulfill the water supply needs of the
city a reservoir was built, in the famous Malabar Hills. Not only did the reservoir
sustain the needs of Mumbai for the next 100 years, it also witnessed the
growth of Mumbai as the Commercial Capital of India.
The reservoir was built by a
company called Littlewood Pallonji & Company, which today is a Shapoorji
Pallonji Company & Limited construction giant in India and abroad.
Over the next hundred years, the
company’s expertise has been repeatedly showcased on projects which involved a
major advance in construction technology or whose size was beyond the capacity
of most others. Blessed with a rich legacy and heritage, it has marched into
the new millennium with modern management skills, state-of-the-art technology
and the ideals of innovation and customer satisfaction.
Over time, subject has built
diverse civil and structural engineering masterpieces like factories, nuclear
research establishments, nuclear waste handling, scientific and research
establishments, stadia and auditoria, airports, hotels, hospitals, giant
skyscrapers, housing complexes, townships, water treatment plants, roads,
expressways, power plants and biotech facilities.
When the Sultan of Oman decided to
build a palace around his throne, he placed his trust in Shapoorji Pallonji.
Subject is just one of the jewels
in the SP crown. It draws vital support from other group companies to be able
to execute turnkey projects swiftly and efficiently. These include SP
Fabricators, AFCONS, Forbes, Sterling and Wilson, SP Construction Materials
Group, SP Real Estate and Samalpatti Power Company Private Limited. Together,
this conglomerate continues to strive towards perfection, quality and
commitment virtues.
Shapoorji Pallonji is the largest
private shareholder (18.5%) of TATA SONS LIMITED, the Holding Company of the TATA
Group. The Annual turnover of the TATA Group is over $15 billion.
Shapoorji Pallonji has emerged as
one of the most quality-conscious construction companies. With over 1250
dedicated and qualified engineers employed by the organization, it's not hard
to imagine why Shapoorji Pallonji is:
- The oldest Indian construction company with a legacy of 140
years.
- The first Indian construction company to enter the Middle East
(Oman Palace) in the 1970’s.
- The first Indian construction company to have earned the ISO
9001 Certification.
- The first Indian company to construct two, sixty-storey
residential towers in the heart of Mumbai.
Today, as Shapoorji Pallonji
moves towards a new chapter of progress, it will continue to undertake and
accomplish projects that will stand as proud testimony to their times.
Project
Experience
Like
the city of its birth, the company has grown and expanded at an unparalleled
pace in the last century to its present status. Shapoorji Pallonji is a firm that is proud of its past. The company today is not only a force within
the country but abroad also. It has
been an achievement for the group to sustain its name at the forefront of the
construction industry over the years.
Today
when a brick is laid by Shapoorji Pallonji, the client knows that the highest
quality standards are going to be met.
The
company has adapted to changing times and has accelerated the momentum of its
growth by using modern management skills with state-of-the-art technology.
Moving
resolutely forward the company is poised to raise the bar even further in terms
of quality, reliability and integrity.
Design
& Build Projects
Realising
the need for a more holistic approach to construction, they now offer a whole
new construction philosophy Design & Build. At Shapoorji, they believe that
innovation isn't just about what they build but also how they build it.
Design
build is a method of project delivery in which the owner executes a single
contract with one entity (design builder) to provide architectural /
engineering services and construction services.
This
way, all parties involved would, in a non-adversarial role, are driven to
realize the best product for the least price in the shortest time. Issues like
budget, schedule and construction feasibility are key concerns from the very
outset and are addressed throughout.
At Shapoorji Pallonji their Design & Build process
assumes singular responsibility for providing a Comprehensive Building Solution
that includes Project Management, Design Consultancy, Services Consultancy,
Procurement Services and Construction Services.
Along
with their other group companies, they are in the best position to combine all
the resources needed to execute a Design & Build project.
They
have successfully implemented Design & Build projects for clients like Coca Cola and Skoda,
Advantages of Design & Build
• Singular responsibility
• Better quality control
• Savings of cost
• Savings in time
• Reduced administrative burden
• Early knowledge of firm cost
• Risk management
• Minimized planning time
• Lower claims and litigation
• Complete transparency
SP
Group
Besides
SPCL, there are other group companies that have contributed in making the SP group one of the premier business establishments of the country.
Together, this well-spun conglomerate continues to strive towards perfection,
quality and commitment virtues that have come to become celebrated and revered
hallmarks of Shapoorji Pallonji.
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.43.17 |
|
UK Pound |
1 |
Rs.86.46 |
|
Euro |
1 |
Rs.68.68 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
|
|
|
|
TOTAL |
|
73 |
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 |
|