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MIRA
INFORM REPORT
|
Report Date : |
12.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
PRASAD AND
COMPANY (PROJECT WORKS) LIMITED |
|
|
|
|
Registered
Office : |
D No.6-3-871, Snehalatha, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
07.03.1983 |
|
|
|
|
Com. Reg. No.: |
01-003842 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.156.863
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74210AP1983PLC003842 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDP00007A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP2299L |
|
|
|
|
Legal Form : |
A Closely Held Public
Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is
engaged in Construction and Infrastructure Activity. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 8204000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
D No.6-3-871, Snehalatha, |
|
Tel. No.: |
91-40-23404951 / 23404952 / 66610890 / 23414951 / 23413687 / 66610891 |
|
Fax No.: |
91-40-23413687 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
D. No. 7-1-621/299 (276/3 RT) Sajeevareddy Nagar, |
|
Fax No.: |
91-40-23413687 |
DIRECTORS
(AS ON 28.09.2010)
|
Name : |
Mr. Sagi Prasad Raju |
|
Designation : |
Managing Director |
|
Address : |
7-1-621/299 (267/3RT), Sanjeeva Redeey Nagar, |
|
Date of Birth/Age : |
01.09.1961 |
|
Date of Appointment : |
07.03.1983 |
|
|
|
|
Name : |
Mr. Nadimpally Krishnam Raju |
|
Designation : |
Executive Diector |
|
Address : |
8-3-898/30/2, Nagarjuna Nagar Colony, Ameerpet, |
|
Date of Birth/Age : |
21.01.1938 |
|
Date of Appointment : |
16.09.1983 |
|
|
|
|
Name : |
Mr. Sagi Atchutarama Raju |
|
Designation : |
Executive Diector |
|
Address : |
6-164, Chinna Amiram, Bhimavaram Mandal, W G District, |
|
Date of Birth/Age : |
22.03.1936 |
|
Date of Appointment : |
16.09.1983 |
|
|
|
|
Name : |
Mr. Gottumukkala Venkatapathi Raju |
|
Designation : |
Executive Director |
|
Address : |
8-3-898/30/2, Nagarjuna Nagar Colony, Ameerpet, |
|
Date of Birth/Age : |
29.10.1944 |
|
Date of Appointment : |
30.09.1989 |
|
|
|
|
Name : |
Mr. Alluri Sai Baba |
|
Designation : |
Executive Director |
|
Address : |
7-1-4, Begumpet, |
|
Date of Birth/Age : |
01.07.1961 |
|
Date of Appointment : |
27.09.1997 |
|
|
|
|
Name : |
Mr. Nadimpalli Srinivasa Varma |
|
Designation : |
Executive Director |
|
Address : |
8-3-898/30/2, Nagarjuna Nagar Colony, Ameerpet, |
|
Date of Birth/Age : |
15.10.1963 |
|
Date of Appointment : |
27.09.1997 |
|
|
|
|
Name : |
Mr. Alluri Subba Raju |
|
Designation : |
Executive Director |
|
Address : |
Plot No.206, Vijaya Co-operative Housing Society, Jubilee Hills, |
|
Date of Birth/Age : |
05.08.1964 |
|
Date of Appointment : |
01.09.2004 |
|
|
|
|
Name : |
Mr. Nadimpalli Satyanarayana Raju |
|
Designation : |
Executive Director |
|
Address : |
Plot No.1057/H, Road No.52, Jubilee Hills, |
|
Date of Birth/Age : |
29.01.1959 |
|
Date of Appointment : |
01.09.2004 |
|
|
|
|
Name : |
Mr. Mani Raju Sagi |
|
Designation : |
Executive Director |
|
Address : |
8-3-898/30/2, Nagarjuna Nagar Colony, Ameerpet, Hyderabad-500073, |
|
Date of Birth/Age : |
04.02.1967 |
|
Date of Appointment : |
28.05.2009 |
|
|
|
|
Name : |
Mr. Nadimpally Raghu Varma |
|
Designation : |
Executive Director |
|
Address : |
8-3-224/4/5R, F-21, Madhura Nagar, |
|
Date of Birth/Age : |
01.08.1971 |
|
Date of Appointment : |
28.05.2009 |
|
|
|
|
Name : |
Mrs. Sagi Vasundhara |
|
Designation : |
Director |
|
Address : |
7-1-621/299/267/3RT, Sanjeeva Redeey Nagar, |
|
Date of Birth/Age : |
28.09.1969 |
|
Date of Appointment : |
16.12.2000 |
|
|
|
|
Name : |
Mr. Bhupathiraju Vissam Raju |
|
Designation : |
Director |
|
Address : |
4-12-472, Hayatnagar, High Court Colony, L B Nagar, |
|
Date of Birth/Age : |
22.04.1939 |
|
Date of Appointment : |
16.12.2000 |
|
|
|
|
Name : |
Mr. Raghuvarma Nadimpalli |
|
Designation : |
Director |
|
Date of Birth/Age : |
01.08.1971 |
|
Date of Appointment : |
28.05.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 28.09.2010)
|
Names of Shareholders |
No. of Shares |
|
Prasad Raju |
265513 |
|
S. Atchutarama Raju |
37573 |
|
S. Vasundhara |
260457 |
|
A. Sai Baba |
86620 |
|
A. Subba Raju |
86619 |
|
G. Venkatapathi Raju |
95041 |
|
G. Subba Raju |
30531 |
|
N. Krishnam Raju |
28841 |
|
N. Satya Satyanarayana Raju |
33365 |
|
N. Satyanarayana Raju |
77667 |
|
N. Srinivasa Varma |
84869 |
|
S. Ramakrishnam |
99845 |
|
S. Satya Prateek |
41963 |
|
G. Bharathi |
13049 |
|
G. Uday Bhaskar |
5219 |
|
A. Kantama |
14040 |
|
A. Tirumala |
24007 |
|
A. Padmavathi |
28499 |
|
G. Bhagyavathi |
16527 |
|
N. Leela |
17610 |
|
N. Indira Devi |
10408 |
|
N. Rangamma |
12308 |
|
N. Raghu Varma |
17286 |
|
G. Sarojini |
6525 |
|
P. Sridevi |
3747 |
|
Bh. Vissam Raju |
13049 |
|
Bh. Jhansi Lakshmi |
13900 |
|
Bh. Srirama Raju |
12900 |
|
S. Mani Raju |
56488 |
|
S. Naga Raju |
32301 |
|
G. Ramakrishna Kiran |
4279 |
|
K. V. Satyanarayana |
11348 |
|
K. Kalyan |
5219 |
|
S. Subhadramma |
9510 |
|
S. Janaki Subha |
11505 |
|
Total |
1568628 |
(AS ON 28.09.2010)
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
91.67 |
|
Other
top fifty shareholders |
|
8.33 |
|
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is
engaged in Construction and Infrastructure Activity. |
|
|
|
GENERAL INFORMATION
|
Customers : |
Government of Andhra Pradesh
Government of Madhya Pradesh
Government of Chattisgarh
Government of
Government of Uttar Pradesh
Government of Karnataka
Government of
Clients (Private)
|
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities :
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
G.K. Rao and Company Chartered Accountants |
|
Address : |
|
|
PAN No.: |
AABFG5965H |
|
|
|
|
Joint Ventures : |
|
|
|
|
|
Associates/Subsidiaries : |
|
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.100/- each |
Rs.200.000 millions |
|
1000000 |
Redeemable Preferences Shares |
Rs.100/- each |
Rs.100.000 millions |
|
|
Total |
|
Rs.300.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1568628 |
Equity Shares |
Rs.100/- each |
Rs.156.863
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
|
1] Share Capital |
156.863 |
156.863 |
186.863 |
186.863 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1894.033 |
1684.597 |
1378.939 |
1163.727 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2050.896 |
1841.460 |
1565.802 |
1350.590 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
1] Secured Loans |
590.456 |
998.378 |
1288.188 |
872.947 |
|
|
2] Unsecured Loans |
534.340 |
570.716 |
414.318 |
268.688 |
|
|
TOTAL BORROWING |
1124.796 |
1569.094 |
1702.506 |
1141.635 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
3175.692 |
3410.554 |
3268.308 |
2492.225 |
|
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1318.135 |
1433.141 |
1546.136 |
1324.172 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
INVESTMENT |
94.304 |
94.304 |
96.804 |
96.594 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
|
Inventories |
427.780
|
273.872
|
483.456 |
373.107 |
|
|
Sundry Debtors |
797.321
|
1687.436
|
709.617 |
390.209 |
|
|
Cash & Bank Balances |
550.155
|
261.941
|
248.365 |
246.752 |
|
|
Other Current Assets |
840.378
|
938.052
|
678.499 |
568.218 |
|
|
Loans & Advances |
826.267
|
790.633
|
609.499 |
360.026 |
|
Total
Current Assets |
3441.901
|
3951.934
|
2729.436 |
1938.312 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
|
Sundry Creditors |
716.077
|
1276.868
|
535.724 |
460.472 |
|
|
Other Current Liabilities |
387.634
|
362.455
|
286.014 |
216.774 |
|
|
Provisions |
574.937
|
429.502
|
282.330 |
189.607 |
|
Total
Current Liabilities |
1678.648
|
2068.825
|
1104.068 |
866.853 |
|
|
Net Current Assets |
1763.253
|
1883.109
|
1625.368 |
1071.459 |
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
3175.692 |
3410.554 |
3268.308 |
2492.225 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
Income from Operations |
5162.608 |
7434.198 |
5260.414 |
2794.816 |
|
|
|
Contracts-in-Progress at the end of the year |
297.852 |
149.791 |
148.918 |
191.541 |
|
|
|
Other Income |
69.256 |
37.171 |
41.163 |
48.141 |
|
|
|
TOTAL (A) |
5529.716 |
7621.160 |
5450.495 |
3034.498 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
Contracts in Progress at the beginning of the year |
149.791 |
148.918 |
191.541 |
30.000 |
|
|
|
Material Consumed |
833.953 |
1882.283 |
1068.637 |
585.145 |
|
|
|
Construction Expenses |
2584.886 |
3280.788 |
2569.219 |
1307.146 |
|
|
|
Staff Cost |
368.687 |
379.700 |
283.597 |
192.057 |
|
|
|
Administrative and Other
Expenses |
861.901 |
1032.507 |
676.245 |
524.341 |
|
|
|
TOTAL (B) |
4799.218 |
6724.196 |
4789.239 |
2638.689 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)
(C) |
730.498 |
896.964 |
661.256 |
395.809 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
166.664 |
198.968 |
149.132 |
64.730 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
563.834 |
697.996 |
512.124 |
331.079 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
183.569 |
218.112 |
178.276 |
148.929 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
380.265 |
479.884 |
333.848 |
182.150 |
|
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
147.500 |
148.600 |
92.600 |
53.700 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
232.765 |
331.284 |
241.248 |
128.450 |
|
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
350.894 |
170.322 |
49.936 |
13.801 |
|
|
|
|
|
|
|
|
|
|
Add |
Income
pertaining to earlier year (Excess Provision of Income Tax Written Back) |
-- |
-- |
-- |
0.023 |
|
|
|
|
|
|
|
|
|
|
Less |
EXPENDITURE
PERTAINING TO EARLIER YEAR |
0.368 |
0.212 |
0.053 |
1.271 |
|
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
|
Preference Dividend |
0.000 |
1.835 |
2.100 |
2.321 |
|
|
|
Proposed Dividend |
15.686 |
15.686 |
15.686 |
15.686 |
|
|
|
Corporate Dividend Tax |
2.605 |
2.977 |
3.023 |
3.060 |
|
|
|
Capital Redemption Reserve |
0.000 |
30.000 |
0.000 |
0.000 |
|
|
|
General Reserve |
150.000 |
100.000 |
100.000 |
70.000 |
|
|
BALANCE CARRIED
TO THE B/S |
415.000 |
350.894 |
170.322 |
49.936 |
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
148.00 |
210.00 |
152.42 |
79.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
4.20 |
4.35 |
4.43 |
4.23 |
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.36 |
6.46 |
6.35 |
6.52 |
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.98 |
8.91 |
7.81 |
5.58 |
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.26 |
0.21 |
0.13 |
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.36 |
1.98 |
1.79 |
1.49 |
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.05 |
1.91 |
2.47 |
2.24 |
LOCAL AGENCY FURTHER INFORMATION
REVIEW OF OPERATIONS:
During the year
the Company has posted a Gross Income of Rs.5529.716 millions (Previous Year
Rs.7621.160 millions) and after providing for financial charges and
depreciation has resulted in a net profit after tax of Rs.232.766 millions
(Previous Year net profit after tax of Rs.331.284 millions).
Members of the
company would be glad to note that “CRICIL” has reaffirmed the Credit rating
for the company “A – Stable and P2+”.
FUTURE PLANS AND
PROSPECTS:
The Infrastructure
Industry involves construction, design, construction of structures such as
bridges, dams, ports, roads, building etc., from power sector to road. The
Infra majors from A.P. are the fast runners of Indian mega projects whether it
is power sector, Air Ports, Sea Ports, Metro Rail Projects, National Highways,
Special economic zones etc. On account of globalization, the need for increased
infra is being fully appreciated by the Government and various other agencies
and hence Infra Sector is on upswing position during the last few years due to
Govt. focus/policy on infrastructure developments in
NEWS
Prasad and Company have been
awarded the work of Civil, Piling and Structural works for 3 x 500 MW Vallur TPP, Coal Handling
Plant with a Contract Value of Rs.
1129.000 millions for BHEL at
Prasad and Company have been
awarded the work of Ash Dyke Package
for Bongaigaon TPP (3X250 MW) with a Contract Value of Rs. 797.000 millions for NTPC Limited at
Recently we were awarded the work
of "Civil, Piling and Structural
works for Coal Handling Plant - 3 x 500 MW Vallur TPP on Turnkey Basis
from BHEL, Bangalore for NTPC-TAMIL
NADU ENERGY COMPANY LTD., "
Recently we were awarded the works
of “Construction and Supply of (a) 275
meter high RCC single flue steel lined chimney at 1x500 MW Bokaro-A TPS,
Jharkhand; (b) 275 meter high RCC single flue steel lined chimney at 1x500 MW
Korba (W) TPS, Chattisgarh and (c) 275 meter high RCC twin flue steel lined
chimney at 2x500 MW Marhwa TPP, Chattisgarh"
Prasad
and Company has been awarded the work of General Civil Work Package – I of 2 x 600 MW
Shri Singaji Thermal Power Project at Dongalia / Purni, Dist. Khandwa, Madhya
Pradesh for Madhya Pradesh Power Generation Corporation Ltd., Madhya
Pradesh with a Contract Value of Rs. 1935.000
millions.
We have been awarded the work of Pranahita - Chevella Lift Irrigation Scheme
(Package- IV ) with a contract value of Rs. 16752.500 millions under the Joint Venture for I and CAD
Department Government of Andhra Pradesh.
We have been awarded the work of Dr. B. R. Ambedkar Pranahitha Chevella Sujala
Sravanthi Package No. 24 with a contract value of Rs. 9373.300 millions under the Joint
Venture I and CAD Department Government
of Andhra Pradesh.
We have been awarded the work of
Main Civil, Structural and architectural work for 1x500 MW unit at Bokaro-A TPS, Jharkhand with a contract value of Rs. 2089.800 millions for Bharat Heavy
Electricals Limited, Kolkata.
We have been awarded the work of
Construction of 352 Houses in 11 Blocks
in (G+3) pattern in Allipuram Survey No. 290 in GVMC limits under JNNURM
Scheme for Greater Visakhapatnam
Municipal Corporation under Joint Venture
Bankers Charges
Report as per Registry
|
Name of the
company |
PRASAD AND
COMPANY (PROJECT WORKS) LIMITED |
|
Presented By |
Mr. S. Prasad
Raju, Managing Director |
|
1) Date and description of instrument creating the change |
01.09.1999. No
document was executed a mortgage by deposit of title deeds of immovable
property of the Company located in |
|
2) Amount secured by the charge/amount owing on the securities of charge |
The credit
facility of Rs.153.500 millions (agreed to be lend and advanced by State Bank
of India to the Company by way of cash credit facility of Rs.3.500 millions
and Bank Guarantee Limits of Rs.150.000 millions together with interest,
additional interest, liquidated damages, premia on prepayment or on
redemption, costs, charges, expenses and all other money(s) payable by the
Company to SBI. |
|
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 |
A mortgage by
deposit of title deeds in respect of the residential plot of land situated at
Plot No.6 Block No.C.4, Safdarjung Development Area, |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The charge
operates as security Inter-alia for the due repayment by the Company to SBI
of its Credit facility of Rs.153.500 millions sanctioned, fund based and non
fund based together with interest, additional interest, liquidated damages,
premia on prepayment or on redemption, costs, charges, expenses and all other
money(s) payable by the Company to SBI. |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of |
|
6) Date and brief description of instrument modifying the charge |
09.09.99 Deed of
Hypothecation of Goods and Assets Agreement of loan for overall limit for
increase in overall limit executed by the company in favour of State Bank of |
|
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. |
SBI enhanced the
working capital facility from Rs.153.500 millions to Rs.228.500 millions and sanction a term loan of Rs.40.000
millions for purchase of equipment machinery and vehicles vide Agreement of
loan for overall limit dated 0909.1999 amounting Rs.268.500 millions. The
extent of operation of charge is the enhanced credit facility of Rs.268.500
millions (cash credit limit Rs.3.500 millions, term loan Rs.40.000 millions
and Bank Guarantee limit Rs.225.000 millions) sanctioned by SBI together with
interest, compound interest, additional interest, liquidated damages, costs,
charges, expenses and all other moneys payable by the company to SBJ in terms
of the said Loan Agreement which is secured by the said Deed of Hypothecation
dated the 09.09.1999. |
|
Corporate
identity number of the company |
U74210AP1983PLC003842 |
|
Name of the
company |
PRASAD AND
COMPANY (PROJECT WORKS) LIMITED |
|
Address of the
registered office or of the principal place of business in |
D No.6-3-871, Snehalatha, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
HDFC Bank
Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel West,
Mumbai-400013, Email ID: |
|
Nature of
instrument creating charge |
Agreement for
Loan and Guarantee. (Contracts No.:
3326062) |
|
Date of instrument
Creating the charge |
31.05.2010 |
|
Amount secured by
the charge |
Rs.2.040 millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @ 9.50 %
p.a. Terms of
Repayment The Loan is
repayable in 35 EMIs of Rs.66963/- starting from 1st July, 2010 ending on 1st
May, 2013. Margin As may be
stipulated by bank from time to time. Extent and
Operation of the charge The Company
hypothecates to and charges in favour of the Bank by way of first and
exclusive charge of the Vehicle/ equipment described in Item No. 15 as
security for the repayment/payment by the company of the loan granted or to
be granted to the company by the Bank together with all fees, interest, costs
and expenses incurred/to be incurred by the Bank and all other monies payable
or to become payable by the company to the Bank. Others The Bank shall be
absolutely entitled and have full power and authority to sell, assign or
transfer in any manner, in whole or in part, and in such manner and on such
terms as the Bank may decide, including reserving a right to the Bank to
retain its power to proceed against the company on behalf of the purchaser,
assignee or transferee, any or all outstanding dues of the company, to any
third party of the Bank's choice without reference to or without written
intimation to the company. |
|
Short particular
of the property or asset(s) charged |
Hypothecation of
Equipment namely : Batching Plant (Year of Manufacture: 2010) |
|
Corporate
identity number of the company |
U74210AP1983PLC003842 |
|
Name of the
company |
PRASAD AND
COMPANY (PROJECT WORKS) LIMITED |
|
Address of the
registered office or of the principal place of business in |
D No.6-3-871, Snehalatha, Greenlands Road, Hyderabad-500016, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable property
(not being pledge) |
|
Particular of
charge holder |
HDFC Bank
Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel West,
Mumbai-400013, |
|
Nature of
instrument creating charge |
Agreement Loan
and Guarantee. Contracts No:3356255/267/272/275/307
= ( Rs.4.640 millions X 2Conts = Rs.9.281 millions) + ( Rs.2.137 millions X
2Conts = Rs.4.275 millions ) + Rs.2.278 millions = Rs.15.835 millions |
|
Date of
instrument Creating the charge |
05.02.2011 |
|
Amount secured by
the charge |
Rs. 15.835
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest @ 9.03 %
p.a Terms of repayment The Loan is
repayable in 35 EMIs of Rs.0.516 million [( Rs.0.151 million /- X 2Conts ) +
( Rs.0.069 million X 2Conts) + Rs.0.074 million] Starting from 20th February,
2011 ending to 20th December, 2013. Margin As may stipulated
by bank from time to time Extent and operation of the charge The Company hypothecates
to and charges in favour of the Bank by way of first and exclusive charge of
the Vehicle/ equipment described in Item No. 15 as security for the
repayment/payment by the company of the loan granted or to be granted to the
company by the Bank together with all
fees, interest, costs and expenses incurred/to be incurred by the Bank and
all other monies payable or to become payable by the company to the Bank. Other The Bank shall be
absolutely entitled and have full power and authority to sell, assign or
transfer in any manner, in whole or in part, and in such manner and on such
terms as the Bank may decide, including reserving a right to the Bank to
retain its power to proceed against the company on behalf of the purchaser,
assignee or transferee, any or all outstanding dues of the company, to any
third party of the Bank's choice without reference to or without written
intimation to the company |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of 5
No of Vehicle Namely: 2 No Of L and T Komatsu - Pc 200, 2 No of L and T Case
Equipment 1107, 1 No Of L and T Komatsu Pc 71 - Year of Manufacture 2011 |
FIXED ASSETS
·
Land
·
Buildings
·
Plant
and Machinery
·
Office
Equipments
·
Computers
·
Office Furniture
and Fittings
·
Scientific,
mathematical and Engineering Equipments
·
Vehicles
·
Telephone
Equipments
·
Scaffolding
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.45.27 |
|
|
1 |
Rs.73.33 |
|
Euro |
1 |
Rs.64.58 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
50 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.