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MIRA
INFORM REPORT
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Report Date : |
28.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
BRIDGE AND ROOF COMPANY (INDIA) LIMITED |
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Registered Office : |
2/1, Russel Street, 5th
Floor, Kolkata – 700071, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
16.01.1920 |
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Com. Reg. No.: |
003601 |
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CIN No.: [Company
Identification No.] |
U27310WB1920PLC003601 |
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Legal Form : |
A closely held public limited liability company. |
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Line of Business : |
Civil
engineering and industrial and factory construction services. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 4600000 |
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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 and reputed company having fine track. Trade
relations are fair. General financial position is satisfactory. Payments are
reported as usually correct and as per commitments. The company can be considered
good for normal business dealings at usual trade terms and conditions. |
INFORMATION
DECLINED BY
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Name : |
Mr. Das |
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Designation : |
Administration Manager |
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Contact No.: |
91-33-26669134 |
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Date : |
29.03.2008 |
LOCATIONS
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Registered Office : |
2/1, Russel Street, 5th
Floor, Kolkata – 700071, West Bengal, India |
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Tel. No.: |
91-33-2217-2108 /
2275 / 2276 / 22174053 / 4054 / 4056 |
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Fax No.: |
91-33-22172106/4519 |
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E-Mail : |
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Website : |
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Head Office / Factory- : |
427/1, Grand Trunk Road,
Howrah - 711101 |
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Tel. No.: |
91-33-2666-9131 to 34 |
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Fax No.: |
91-33-2666-9137 |
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E-Mail : |
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Delhi Office: |
840 Chirag Delhi, New Delhi -
110017 |
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Tel.
No.: |
91-11-2925-7917 / 8223 |
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Fax
No.: |
91-11-2925-3991 |
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E-Mail
: |
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Mumbai Zonal Office: |
"Priyadarshni", RCF Office
Complex, (1st Floor) Eastern Express Highway Sion Trombay Road, Mumbai -
400022 |
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Tel.
No.: |
91-22-2404-5401/5402/5404 |
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Fax
No.: |
91-22-2404-5403 |
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E-Mail
: |
brijroof@vsnl.net |
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Chennai Zonal Office: |
New No. 90 / Old No. 85,
Second Street, Kamraj Avenue, |
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Tel.
No.: |
91-44-2441-6480/2442-0318/2445-1149 |
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Fax
No.: |
91-44-2490-1091 |
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E-Mail
: |
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Baroda Regional Office : |
107/108, Offtel Towers, R. C.
Dutt Road, Baroda – 380005 |
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Tel.
No.: |
91-265-2330066 Extn. 201 |
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Fax
No.: |
91-265-2337946 |
DIRECTORS
|
Name : |
Mr.
A.K. Jain |
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Designation : |
Chairman |
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Address : |
Bharat Yantra Nigam Limited
29-B-3, C.S.P. Singh Marg, Allahabad Pin - 211 001, India |
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Name : |
Mr.
Mukesh Jha |
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Designation : |
Managing Director |
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Address : |
Bridge & Roof Company (India) Limited, "Kankaria
Centre", 5 th Floor, 2/1, Russel Street, Kolkata - 700 071, India |
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Name : |
Mr.
R.P. Goyal |
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Designation : |
Director |
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Address : |
Ministry of Heavy Industries & Public Enterprises Dept. of Heavy
Industry, Govt. of India Udyog Bhawan, New Delhi - 110 011, India |
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Name : |
Mr.
M. Pal Chaudhuri |
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Designation : |
Director |
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Address : |
Bridge & Roof Company (India) Limited, "Kankaria Centre",
5 th Floor, 2/1, Russel Street, Kolkata - 700 071 |
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Name : |
Dr.
C.R. Samadder |
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Designation : |
Director |
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Address : |
L 3/23, DLF, Phase-II, Gurgaon –
122022, India |
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Name : |
Mr. R. N. Basuray |
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Designation : |
Managing Director |
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Name : |
Mr. Manoj Kumar
Singh |
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Designation : |
Director –
Part-Time |
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Name : |
Mr. Satish C.
Gupta |
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Designation : |
Chairman |
KEY EXECUTIVES
|
Name : |
Mr. B. Kundu |
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Designation : |
Company Secretary |
BUSINESS DETAILS
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Line of Business : |
Civil
engineering and industrial and factory construction services. |
GENERAL
INFORMATION
|
Customers : |
Oil and Gas ·
Indian Oil Corporation Limited ·
Oil and Natural gas Corporation Limited ·
Reliance ·
Petronet MHB Limited Petrochemicals ·
Indian Petrochemicals Corporation Limited ·
Haldia Petrochemicals Fertilizer and
Chemicals ·
ICI India Limited ·
National Fertilizers Limited ·
Rashtriya Chemical and Fertilizers ·
Sterlite Industries Limited Power ·
Bhaba Atomic Research Commission ·
Nuclear Power Corporation ·
Essar Projects Limited ·
Tata Projects Steel ·
Steel Authority of India Limited ·
Bhushan Steel and Stripls Limited ·
Visa Steel Limited ·
Vikram Ispat Limited Non-Ferrous ·
National Aluminium Company Limited ·
Hindustan Zinc Limited ·
Bharat Aluminium Company limited ·
Vedanta Alumina Limited Cement ·
The Associated Cement
Companies Limited ·
Cement Corpn. of India ·
Orissa Cement Limited ·
Diamond Cement ·
Mysore Cements Limited Road ·
National Highways Authority
of India ·
Public Works Department ·
Goverment of Gujrat. ·
His Majesty's Government
of Nepal, Ministry of Works and Transport, Department of Roads Railways ·
Indian Railways ·
Metro Railway ·
IRCON International
Limited ·
Rail India Technical and
Economic Services Limited Infrastructure ·
Delhi Metro Rail
Corporation Limited ·
Calcutta Improvement
Trust ·
Garden Reach Shipbuilders
and Engineers ·
National Council of
Science Museums ·
Reserve Bank of India ·
Indian Council of
Cultural Relations ·
WB National University of
Juridical Sciences ·
Indian National Science
Academy ·
Calcutta Metropolitan
Development Authority ·
Adani Agri Logistics and
Power. ·
Bengal Greenfield Housing
Development Company Limited ·
Guru Gobind Singh
Indraprastha University. ·
Calcutta Port Trust ·
Visakhapatnam Port Trust ·
Indian Bank ·
The Society for Sports
and Stadium, Calcutta ·
WB Housing Construction
Circle ·
Director General Border
Roads ·
Indian Navy ·
International Airport
Authority of India ·
Kandla Port Trust ·
Cochin Shipyard Limited ·
Metro Cash and Carry
India Private Limited |
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No. of Employees : |
Around 1500 |
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Bankers : |
State Bank of India Kolkata Branch |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
·
Jain Saraogi and Company Chartered
Accountants ·
M/s. Santosh Jain and
Company Chartered
Accountants |
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Associates/Subsidiaries : |
·
Bharat Heavy
Plate and Vessels Limited ·
Bharat Pumps
and Compressors Limited ·
Richardson
and Cruddas Limited ·
Triveni Structural
Limited ·
Tungabhadra
Steel Products Limited |
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Holding Company |
Bharat Yantra
Nigam |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
60000000 |
Equity Shares |
Rs.10/- each |
Rs.600.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
54987200 |
Equity Shares |
Rs.10/- each |
Rs.549.872
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
549.872 |
399.872 |
249.872 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
363.872 |
320.332 |
307.625 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
913.744 |
720.204 |
557.497 |
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LOAN FUNDS |
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1] Secured Loans |
349.810 |
329.489 |
489.540 |
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2] Unsecured Loans |
270.000 |
172.918 |
23.096 |
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TOTAL BORROWING |
619.810 |
502.407 |
512.636 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1533.554 |
1222.611 |
1070.133 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
432.631 |
206.513 |
188.136 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
25.727 |
19.579 |
10.025 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
336.783 |
354.927 |
334.302 |
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Sundry Debtors |
107.352 |
113.502 |
98.825 |
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Cash & Bank Balances |
170.270 |
173.447 |
102.925 |
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Other Current Assets |
2758.464 |
2220.269 |
1831.069 |
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Loans & Advances |
1796.355 |
1370.194 |
1173.002 |
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Total
Current Assets |
5169.224
|
4232.339
|
3540.123 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
3940.713 |
3082.045 |
2609.480 |
|
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Provisions |
153.315
|
153.775
|
58.671 |
|
Total
Current Liabilities |
4094.028 |
3235.820 |
2668.151 |
|
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Net Current Assets |
1075.196 |
996.519 |
871.972 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1533.554 |
1222.611 |
1070.133 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
5566.182 |
4675.969 |
4428.974 |
|
Other Income |
560.527 |
427.233 |
446.629 |
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Total Income |
6126.709 |
5103.202 |
4875.603 |
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|
|
|
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Profit/(Loss) Before Tax |
71.748 |
31.080 |
14.862 |
|
Provision for Taxation |
26.240 |
6.896 |
5.475 |
|
Profit/(Loss) After Tax |
45.508 |
24.184 |
9.387 |
|
|
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|
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Expenditures : |
|
|
|
|
Consumption of Material |
2234.273 |
1880.420 |
2047.505 |
|
Employee Cost and Other Expenses |
3606.855 |
3017.728 |
2644.186 |
|
Interest |
124.014 |
113.678 |
112.696 |
|
Depreciation |
89.819 |
56.335 |
56.354 |
|
Prior Period Adjustment |
0.000 |
3.961 |
0.000 |
|
Total
Expenditure |
6054.961 |
5072.122 |
4860.741 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total
Income |
(%) |
0.74
|
0.47 |
0.19 |
|
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|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.29
|
0.66 |
0.34 |
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|
|
|
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|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.28
|
0.70 |
0.40 |
|
|
|
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.04 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.16
|
5.19 |
5.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26
|
1.31 |
1.33 |
LOCAL AGENCY
FURTHER INFORMATION
PERFORMANCE
The company achieved a turnover of
Rs. 6126.700 Millions during the year 2006-07, being 20.06 % higher than Rs. 5103.200
Millions achieved during the previous year. The Profit Before Tax is Rs. 71.700
Millions as compared to Rs. 31.100 Millions in the previous year. Owing to
stiff competition, the turnover and profit margins were under tremendous
pressure but the Company with its sustained efforts was ale to achieve a better
performance compared to last year.
Activity wise performance is
reported below :
PROJECT DIVISION
Value of work done in the Project
Division during the year Rs. 5883.500 Millions as compared to Rs. 4957.400
Millions last year. Important projects which are successfully completed during
the year include.
|
Description |
Location |
Client |
Value [Rs. In Millions] |
|
Civil, Mechanical, Electrical and
Instrumentation Works and laying of Product / Hydrant Line |
Chittaurgarh |
IOCL |
176.000 |
|
Civil Works for Unit – 2 [Part -
B] for GFEC Project |
Mahul |
HPCL |
208.500 |
|
Development of Container Parking
Yard, Construction of Heavy Duty Pavement with connected Road Infrastructure
and Drainage inside General Cargo berth of Haldia Dock Complex |
Haldia |
KPT |
190.000 |
|
Design, Detail Engineering, Supply,
Fabrication, Erection and Testing of 6 nos. Floating Roof Tanks including
Tank foundations |
Mangalore |
MRPL |
274.300 |
|
Civil and Structural Work for
Unit I for Green Fuel and Emission Control Project and Structural work for
Revamp of Unit II |
Mahul |
HPCL |
100.100 |
|
Mechanical, Piping and Painting
Works for Offsite – II for Panipat Refinery Expansion Project. |
Panipat |
IOCL |
180.100 |
|
Mechanical, Piping, Insulation, Painting
and Fire Proofing for Sulphur Block for Panipat Refinery Expansion Project |
Panipat |
IOCL |
203.500 |
CAPITAL
Authorised capital of the company
is Rs. 600 Millions consisting of 60 millions Equity Shares of Rs. 10/- each. Paid
up capital of the company as on 31st March 2007. stands at Rs.
399.900 Millions comprising of 39987155 equity shares of Rs. 10/- each, of
which 39927155 equity shares are held by the Holding Company, Bharat Yantra
Nigam Limited.
Consequent upon the sanction of
capital restructuring scheme of the company by Government of India, Company
received an amount of Rs. 150 Millions towards Plant Equity vide Order No. 3
[7]/2004-PE.IV dated 2nd September 2005. the said amount, being
pending for allotment of shares have been shown as “Capital Suspense”.
HUMAN RESOURCE DEVELOPMENT :
The development of human resources
is a dynamic part and parcel of Company’s business strategy. Training and
motivation of employees, identified as most effective means for human resource
development, continues to be the driving source behind all HRD initiatives
taken in the Company. Apart from the usual performance and potential appraisal
systems, increased emphasis is being given to identify the specific areas of
improvement in tune with ever evolving operational requirements of the Company,
leading to a focused training plan. During the year 48 programmes have
been conducted covering 97 employees.
TRADE REFERENCES
Oil and Gas
Indian Oil Corpn. Limited
Bharat Petroleum Corpn. Limited
Nepal Oil Corporation Limited,
HMG Nepal
Oil and Natural Gas Corporation
Limited
Chennai Petroleum Corpn. Limited
Hindustan Petroleum Corpn.
Limited
Bharat Oman Refineries Limited
Reliance
Kochi Refineries Limited
Indian Oiltanking Limited
Petronet MHB Limited
Gas Authority of India Limited
IBP Company (I) Limited
Petrochemicals
Indian Petrochemicals Corpn.
Limited
Mangalore Refineries and
Petrochemicals Limited
Reliance
Haldia Petrochemicals Limited
Bongaigaon Refineries and
Petrochemicals Limited
Fertilizer and
Chemicals
Rashtriya Chemical and
Fertilzers
ICI India Limited
Sterlite Industries Limited
Hindustan Fertilizer Corpn. Limited
Gujarat Narmada Valley Fertilzer
Corpn. Limited
National Fertlizers Limited
Indian Farmers Fertilizer
Co-operative Limited
Power
Bhaba Atomic Research Commission
Nuclear Power Corpn.
Bharat Heavy Electricals Limited
Essar Projects Limited
IndiraGandhi Centre for Atomic
Research
TATA Projects.
Atomic Energy Commission
Damodar Valley Corporation
West Bengal Power Development
Corporation
National Thermal Power
Corporation
Various State Electricity Boards
Steel
Steel Authority of India Limited
Bhusan Steel & Strips
Limited.
Visa Steel Limited
Vikram Ispat Limited
Rashtriya Ispat Nigam Limited
Non-Ferrous
National Aluminium Company
Limited
Hindustan Zinc Limited
Bharat Aluminim Company Limited
Vedanta Alumina Limited
Hindustan Copper Limited
Cominco Binani Zinc Limited
Indian Aluminium Company Limited
Cement
The Associated Cement Companies
Limited
Cement Corpn. of India
Orissa Cement Limited
Diamond Cement
Mysore Cements Limited
Road
National Highways Authority of
India
Public Works Department
Goverment of Gujrat.
His Majesty's Government of
Nepal, Ministry of Works and Transport, Department of Roads
Railways
Indian Railways
Metro Railway
IRCON International Limited
Rail India Technical and
Economic Services Limited
Infrastructure
Delhi Metro Rail Corporation
Limited
Calcutta Improvement Trust
Garden Reach Shipbuilders and
Engineers
National Council of Science
Museums
Reserve Bank of India
Indian Council of Cultural
Relations
WB National University of
Juridical Sciences
Indian National Science Academy
Calcutta Metropolitan
Development Authority
Adani Agri Logistics and Power.
Bengal Greenfield Housing
Development Company Limited
Guru Gobind Singh Indraprastha
University.
Calcutta Port Trust
Visakhapatnam Port Trust
Indian Bank
The Society for Sports and
Stadium, Calcutta
WB Housing Construction Circle
Director General Border Roads
Indian Navy
International Airport Authority
of India
Kandla Port Trust
Cochin Shipyard Limited
Metro Cash and Carry India Private
Limited
AS PER WEBSITE
Established
in 1920, Bridge and Roof has since come under the adminstrative control of the
Department of Heavy Industry, Ministry of Heavy Industries and Public
Enterprises, Government of India. It is one of the constituents of the holding
company Bharat Yantra Nigam Limited
From a tiny acorn, today B&R
has grown into a giant oak with an annual turnover of IRs. 6127 (US$ 142
millions), serving both Private and Public Sectors, Indian and Overseas.
Utilising the most modern construction equipment and technology, with high
degree of expertise and substantial in-house resources, employing around 1400
people in its permanent cadre, while at any time engaging more than 10,000
locally employed staff and workers at various project sites.
B&R's pursuit of excellence and adherence to quality has earned itself THE
QUALITY SYSTEM STANDARD, ISO 9001 : 2000 for TANK CONSTRUCTION and for
MANUFACTURE OF RAILWAY WAGONS and BAILEY TYPE UNIT BRIDGE at its Howrah
Workshop
B&R is a most versatile construction organisation, ready to take on new
challenges and be recognised by our esteemed clients as a dynamic and
professional organisation and a leader in the services B&R provides.
Major Civil Construction jobs include heavy foundation in various projects, prilling towers and parabolic silos in fertilizer plants, high-rise buildings, concrete bridges, sports and stadium complexes and high concrete chimneys etc.
Other diverse civil construction activities include cooling towers, mechanized construction of roads and high-ways, piling (both bored and driven) and soil densification jobs, marine berth construction and turnkey construction of raw water and effluent treatment plants. The company employ the most modern methods of construction in all its civil engineering works, including Slip form system for tall structures and various mechanized equipment like Tower Cranes, Truck Mixers, Batching Plants, Dozers, Excavators, Dumpers etc., keeping pace with modern construction methodologies.
Subject has been marching towards excellence and expertise in Mechanical Construction. The major mechanical works include heavy structural steel work of various projects, construction of all types of heaters, furnaces including blast furnace, pipelines, special pipes, steel bridges and turnkey construction of floating roof storage tanks for oil refineries, etc.
These have been augmented by diversifying in cryogenic storage tanks, and turnkey construction of zero flare group gathering stations, oil terminals, ore beneficiation plants, non-ferrous extraction plants and sulphuric acid plants etc.
The Company has also executed turnkey contract for 65,000 cu.m. capacity storage tanks, including civil and mechanical construction and it can claim to be the pioneer in this field.
Subject has established itself as India 's foremost and most versatile manufacturing and construction organization in the field of structural work . It has executed contracts for major steel plants, power stations, industrial and office buildings, highways and railway bridges, sports stadia etc
Subject also undertakes the manufacture of Steel Structures
and Railway Bridge Girders, Bunk Houses, LPG Storage Bullets, Pressure Vessels
and Heat Exchangers at its workshop at Howrah . It has also taken up
manufacture of Bailey Type Unit Bridges , Forged Flanges, House on Wheels and
Truck Mounted Domestic Containers etc.
SERVICES
CIVIL
- Area Grading & Embankment
- Piling and Soil Densification
- All types of Industrial Foundations, Buildings and Utilities
- Subway Structures
- High-rise Buildings
- Chimneys, Prilling Towers and Silos
- RCC/Prestressed Conc. /Concrete Encased Pressure
Ducts
- Concrete Road Bridges & Flyovers
- Composite Stadium and Sports Complexes
- Airport Terminals and Runways
- Civil works for Metro Stations / Structures
- Ports and Jetties
MECHANICAL AND STRUCTURAL
- All welded Large Diameter Steel Storage Tank for
Crude & Product Storage
- Fabrication and Erection of Unit Piping, Yard Piping
for Product, Steam, Cryogenic and other Applications (CS, AS, SS, NACE,
High Pressure and Others)
- Installation of Static and Rotary Equipment
- Fabricated, Welded Pressure Ducts
- Blast Furnace, Electrostatic Precipitator, Heaters
and Reformer
- Pressure Vessels
- Stainless Steel Silo
- Industrial & Technological Structure
- Flare Stack & Steel Chimney
- Loading Gantry
- Steel Bridges (Railways/Roadways)
- Space Frame Structure
LSTK / EPC / TURNKEY CONTRACTS
- Engineering and System Based Packages
- Oil Terminals & Depots
- LPG & LNG Terminals
- Cross - Country Piping
- Ports & Jetties
- Housing Projects
- Material Handling
- Environmental Projects (for various Industries,
Urban/Rural Facilities, Utility Projects)
- Fire Fighting/Protection System for Jetties, Oil
Terminals, etc.
- Fuel Oil System for Combined Cycle Power Project
- Heater & Reformers
- Water / Effluent Treatment Plant
- Retail and Jubilee Outlets
- Cooling Tower
ROADS AND HIGHWAYS
- Complete Mechanised Construction of :-
- New Roads and Highways (National / State)
- Widening, Strengthening and Realignment of existing
Highways
- Major Bridges and Flyovers
PLANT TURNAROUND AND INSPECTION JOBS
Various Shutdown Maintenance / Revamping / Repairing jobs in :-
- Refinery
- Petrochemical
- Oil and Gas
- Power Plant
- Chemical Project
- Steel Plant
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.42.79 |
|
UK Pound |
1 |
Rs.85.04 |
|
Euro |
1 |
Rs.67.34 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
66 |
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 |
|