MIRA
INFORM REPORT
|
Report Date : |
03.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
KRISHNAPATNAM PORT COMPANY LIMITED |
|
|
|
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Registered
Office : |
1259, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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|
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|
Date of
Incorporation : |
15.03.1996 |
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|
|
|
Com. Reg. No.: |
01-23529 |
|
|
|
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CIN No.: [Company Identification
No.] |
U45203AP1996PLC023529 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
HYDK00599E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK8657J |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Port Services |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 55826000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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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/ Corporate Office : |
1259, |
|
Tel. No.: |
91-40-23557196 |
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Fax No.: |
91-40-23557190 |
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E-Mail : |
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Website : |
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P.O. Bag No. 1, Muthukur, District |
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Tel. No.: |
91-861-2377 999 |
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Fax No.: |
91-861-2377 041 / 2377 046 |
|
E-Mail : |
ceo@krishnapatnamport.com |
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|
|
|
Brand
Communications : |
317, 3rd Floor, |
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Tel. No.: |
91-22-25518865 |
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Fax No.: |
91-22-25515165 |
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E-Mail : |
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Regional Marketing
Office : |
Located at: ·
·
Mumbai ·
Chennai ·
Hospet ·
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|
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Overseas Office : |
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Tel. No.: |
+65 6438 4390 |
DIRECTORS
As on 28.06.2010
|
Name : |
Mr. Chinta Visweswara Rao |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
Plot No. 550 / A, Road No. 92, Phase III, Jubilee Hills, Hyderabad – 500034,
Andhra Pradesh, India |
|
Date of Birth/Age : |
09.06.1947 |
|
Date of Appointment : |
16.08.2005 |
|
|
|
|
Name : |
Mr. Chinta Sasidhar |
|
Designation : |
Managing Director |
|
Address : |
Plot No. 550 / A, Road No. 92, Phase III, Jubilee Hills, Hyderabad –
500034, Andhra Pradesh, India |
|
Date of Birth/Age : |
29.01.1972 |
|
Date of Appointment : |
01.04.2006 |
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|
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|
Name : |
Mr. Chinta Sridhar |
|
Designation : |
Whole Time Director |
|
Address : |
7-5-107/1, Opposite, |
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Date of Birth/Age : |
11.08.1969 |
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Date of Appointment : |
26.04.2006 |
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Name : |
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Designation : |
Whole Time Director |
|
Address : |
My Home, Navdweepa apartments, Vay Block, 104, Madhapur, |
|
Date of Birth/Age : |
18.05.1948 |
|
Date of Appointment : |
16.08.2005 |
|
|
|
|
Name : |
Dr. Madala Srinivas |
|
Designation : |
Director |
|
Address : |
Door No. 8-2-554/1 R, New No. 52, Road NO. 4, Banjara Hills, |
|
Date of Birth/Age : |
15.08.1961 |
|
Date of Appointment : |
16.12.2006 |
|
Date of Ceasing : |
30.03.2010 |
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|
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|
Name : |
Mr. Rayala Rao Venkateswara |
|
Designation : |
Director |
|
Address : |
D No 9 -15-7, CBM Compund, |
|
Date of Birth/Age : |
10.04.1943 |
|
Date of Appointment : |
04.01.2007 |
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|
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|
Name : |
Mr. Chandalada Padmaraju |
|
Designation : |
Director |
|
Address : |
922, |
|
Date of Birth/Age : |
27.06.1953 |
|
Date of Appointment : |
04.01.2007 |
|
|
|
|
Name : |
Mr. Girish Pankaj Baliga |
|
Designation : |
Director |
|
Address : |
Villa No. 123, Phase – I, Adarsh Palm Meadows Airport White Fiedl
Road, Bangalore – 560066, Karnataka, India |
|
Date of Birth/Age : |
19.02.1974 |
|
Date of Appointment : |
19.02.2009 |
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|
Name : |
Mr. Legala Vijay Anand Reddy |
|
Designation : |
Whole Time Director |
|
Address : |
1-8/A, Lingampally Chand Nagar, |
|
Date of Birth/Age : |
03.06.1973 |
|
Date of Appointment : |
24.08.2009 |
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|
Name : |
Mr. Kalyan Coomar Krishna Chandra |
|
Designation : |
Whole Time Director |
|
Address : |
RB Bungalow No. 1, |
|
Date of Birth/Age : |
04.01.1949 |
|
Date of Appointment : |
28.06.2010 |
KEY EXECUTIVES
|
Name : |
Mr. |
|
Designation : |
Secretary |
|
Address : |
10-118, Gaddiannaram P and T Colony, Dilsukhnagar, |
|
Date of Birth/Age : |
26.02.1982 |
|
Date of Appointment : |
09.10.2009 |
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|
|
|
Name : |
Mr. Anil Yendluri |
|
Designation : |
Chief Executive Officer |
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|
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|
Name : |
M.A.R. Ansari |
|
Designation : |
President – Engineering |
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|
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|
Name : |
Mr. Jithendra Nimmagadda |
|
Designation : |
Vice President - Marketing |
|
Mobile No.: |
91-9000399999 |
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E-Mail : |
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|
Name : |
Mr. Johnson Martis |
|
Designation : |
Manager - Brand Communications |
|
Mobile No.: |
91-9323574056 |
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E-Mail : |
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|
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|
Name : |
Mr. Ashish Awasthi ( |
|
Designation : |
General Manager - Marketing |
|
Mobile No.: |
91-9910035666 |
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E-Mail : |
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|
|
|
|
Name : |
Mr. Amit Nandoskar (Mumbai
Office) |
|
Designation : |
Manager - Marketing |
|
Mobile No.: |
91-9930247747 |
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E-Mail : |
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|
|
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|
Name : |
Mr. Mahendra Sivam (Chennai
Office) |
|
Designation : |
Deputy General Manager –
Marketing |
|
Mobile No.: |
91-9003097102 |
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E-Mail : |
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|
Name : |
Mr. N. Salmesh Nambiar (Hospet
Office) |
|
Designation : |
Deputy Manager - Marketing |
|
Mobile No.: |
91-9901395999 |
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E-Mail : |
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|
Name : |
Mr. Shreyas Rajeev ( |
|
Designation : |
Manager - Marketing |
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Mobile No.: |
91-9845041320 |
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E-Mail : |
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|
Name : |
Ms. Charisma Murari |
|
Designation : |
Assistant Vice President
– Marketing ( |
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Mobile No.: |
+65 8491 2520 |
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E-Mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.06.2010
|
Names of Shareholders (Equity Shares) |
No. of Shares |
Percentage of
Holding |
|
Welldo Holdings and Exports Private Limited |
28828637 |
32.825 |
|
Chinta Investments (Private) Limited |
1881363 |
2.142 |
|
CVR Holdings (Private) Limited |
427100 |
0.486 |
|
C. Sridhar |
1836450 |
2.091 |
|
C. Sasidhar |
1836450 |
2.091 |
|
C. V. Rao |
397500 |
0.453 |
|
Navaneeta Agriculture Development Company Private Limited |
1788750 |
2.037 |
|
Navaneeta Agritech Private Limited |
1788750 |
2.037 |
|
Krisahnapatnam Holdings Private Limited |
28790000 |
32.780 |
|
Navneeta Investments |
3975000 |
4.526 |
|
Chinta Investments |
3975000 |
4.526 |
|
CVR Investments |
3975000 |
4.526 |
|
Strategic Port Investments KPC Limited |
8326159 |
9.480 |
|
Total |
87826159 |
100.00 |
10% compulsorily convertible preference shares
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Hitech Infra Limited |
750000 |
100.00 |
|
|
750000 |
100.00 |
0.001% compulsorily convertible cumulative participatory preference
shares
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Strategic Port Investments KPC Limited |
680007962 |
100.00 |
|
|
680007962 |
100.00 |
As on 28.06.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
23.06 |
|
Bodies corporate |
|
72.31 |
|
Directors or relatives of directors |
|
4.63 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Port Services |
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|
|
GENERAL INFORMATION
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
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Banking
Relations : |
- |
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|
|
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Auditors : |
|
|
Name : |
C. Venkat Krishna and Company Chartered Accountant |
|
Address : |
909 A, |
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Fax No.: |
91-40-23201035 |
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E-Mail : |
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Associates/Subsidiaries : |
|
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
89250000 |
Equity Shares |
Rs. 10/- each |
Rs.892.500 Millions |
|
750000 |
10% Compulsory Convertible Preference Shares |
Rs. 10/- each |
Rs.7.500 Millions |
|
700000000 |
0.001% Compulsory Convertible Cumulative Participatory preferences Shares |
Rs. 10/- each |
Rs.7000.000 Millions |
|
|
Total |
|
Rs.7900.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
87826159 |
Equity Shares |
Rs. 10/- each |
Rs.878.261 Millions |
|
750000 |
10% Compulsory Convertible Preference Shares |
Rs. 10/- each |
Rs.7.500 Millions |
|
680007962 |
0.001% Compulsory Convertible Cumulative Participatory preferences Shares |
Rs. 10/- each |
Rs.6800.080 Millions |
|
|
Total |
|
Rs.7685.841
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
7685.841 |
7685.841 |
802.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
100.000 |
|
|
3] Reserves & Surplus |
6270.768 |
3882.291 |
1448.585 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
13956.609 |
11568.132 |
2351.085 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
20696.465 |
8801.755 |
6858.381 |
|
|
2] Unsecured Loans |
0.000 |
2500.000 |
0.000 |
|
|
TOTAL BORROWING |
20696.465 |
11301.755 |
6858.381 |
|
|
DEFERRED TAX LIABILITIES |
591.294 |
194.327 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
35244.368 |
23064.214 |
9209.466 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
13320.884 |
10057.870 |
174.277 |
|
|
Capital work-in-progress |
16685.551 |
9633.415 |
9411.039 |
|
|
|
|
|
|
|
|
INVESTMENT |
2883.792 |
2612.762 |
292.446 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000 |
|
|
Sundry Debtors |
840.561
|
634.101
|
12.478 |
|
|
Cash & Bank Balances |
853.819
|
639.773
|
81.217 |
|
|
Other Current Assets |
383.691
|
709.232
|
61.252 |
|
|
Loans & Advances |
3207.071
|
1598.586
|
748.823 |
|
Total
Current Assets |
5285.142
|
3581.692
|
903.770 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
679.578
|
1114.824 |
|
|
Other Current Liabilities |
2473.499
|
1575.613
|
530.734 |
|
|
Provisions |
539.786
|
669.100
|
15.461 |
|
Total
Current Liabilities |
3013.285
|
2924.291
|
1661.019 |
|
|
Net Current Assets |
2271.857
|
657.401
|
(757.249) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
82.284 |
102.766 |
88.953 |
|
|
|
|
|
|
|
|
TOTAL |
35244.368 |
23064.214 |
9209.466 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6153.643 |
3378.184 |
495.440 |
|
|
|
Other Income |
145.198 |
16.734 |
3.165 |
|
|
|
TOTAL (A) |
6298.841 |
3394.918 |
498.605 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating Expenses |
1517.696 |
545.750 |
349.804 |
|
|
|
Administrative Expenses |
506.906 |
260.349 |
85.956 |
|
|
|
TOTAL (B) |
2024.602 |
806.099 |
435.760 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4274.239 |
2588.819 |
62.845 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
818.218 |
53.871 |
7.042 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3456.021 |
2534.948 |
55.803 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
309.507 |
61.822 |
5.021 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3146.514 |
2473.126 |
50.782 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
935.676 |
851.387 |
14.266 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2210.838 |
1621.739 |
36.516 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1034.226 |
39.845 |
3.569 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
500.000 |
500.000 |
0.000 |
|
|
|
Debenture Redemption Reserve |
(126.600) |
126.600 |
0.000 |
|
|
|
Preference Dividend |
0.679 |
0.638 |
0.202 |
|
|
|
Dividend Distribution Tax |
0.139 |
0.120 |
0.038 |
|
|
BALANCE CARRIED
TO THE B/S |
2870.846 |
1034.226 |
39.845 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.88 |
19.49 |
0.46 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
35.10
|
47.77
|
7.32 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
51.13
|
73.21
|
10.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.91
|
18.13
|
4.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.21
|
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.70
|
1.23
|
3.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.75
|
1.22
|
0.54 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The registered office of the company has been shifted from Natco House, Road No.2, Banjara Hills, Hyderabad – 500 033, Andhra Pradesh to the present address w.e.f. 18.09.2006.
NATURE OF OPERATIONS:
The company is engaged as developer and operator of the
YEAR IN
RETROSPECT:
During the year, Gross revenue of the company increased to Rs.6785.890
millions compared to Rs.3786.724 millions in the previous year registering a
splenetic growth of 79.20%. The company earned a net profit of Rs.2210.838
millions after taxes against corresponding figure of Rs.1621.739 millions in
the previous year reflecting an impressive growth of 36.32%.
|
Corporate
identity number of the company |
U45203AP1996PLC023529 |
|
Name of the
company |
KRISHNAPATNAM
PORT COMPANY LIMITED |
|
Address of the
registered office or of the principal place of business in |
1259, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable Property (Not Being Pledge) Rights Under Insurance Policies. |
|
Particular of
charge holder |
Land Infrastructure
Finance Company Limited - e-mail id: krishnakumar@ltfinance.com |
|
Nature of
instrument creating charge |
Deed of Hypothecation
read with the Facility Agreement both dated 30.03.2010. |
|
Date of
instrument Creating the charge |
30.03.2010 |
|
Amount secured by
the charge |
Rs. 1000.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
a) Rate of Interest - 9.0% p.a. (L and T
Infra PLR-4.50%) payable monthly. b) Terms of repayment - Repayment shall be in
5 equal monthly installments of Rs. 200.000 millions each after a moratorium
period of 14 months from the date of first disbursement. c) Margin - As may be informed by the lender
from time to time. d) Extent and operation of charge -
Subservient charge on all the movable assets of the Borrower shall operate as
a continuing security for the due payment/repayment by the borrower of the
secured obligations (repayment installments, interest, damages,
reimbursements or otherwise together with all interest, costs, charges,
expenses and all other monies) as more fully described in the Deed of
Hypothecation read with the Facility Agreement both dated 30.03.2010. e) Others - Other terms and conditions are as
specified in the Deed of Hypothecation read with the Facility Agreement both
dated 30.03.2010. |
|
Particulars of
the property charged |
Subservient
charge on all the movable assets of the Borrower. Demand Promissory
Note. |
FIXED ASSETS
·
Building
·
Navigation aids
·
Godown
·
Plant and machinery
·
Furniture and fixtures
·
Office equipment
·
Computers Hard ware
·
Break – Water Dam
·
Boat
·
Barges
·
Generator and Pump Sets
·
·
Fire Equipment
·
Communication Equipment
·
Port Equipment
·
Electrical Equipment
·
Vehicles
WEBSITE DETAILS:
Corporate Profile:
Subject promoted by the Hyderabad-based C.V.R. Group of Navayuga Engineering Company with interests in marine, construction and information technology.
Navayuga Engineering (NECL) an
ISO 9001 - 2000 accredited Multi Disciplinary Construction Company, is the
flagship entity of the Rs.2500 crores Navayuga group.
A multidisciplinary engineering and construction company, it is one of the few
Indian organizations having the experience and expertise to provide innovative
solutions in the field of specialized construction.
NECL integrates its resources and expertise to provide engineering solutions at
optimum cost, reliability and time.
Milestones:
The first phase
was inaugurated and dedicated to the Nation by Ms. Sonia Gandhi on 17.07.2008.
Management Team
C
Sasidhar, Managing Director, Innovative, his
creative excellence refined with productivity-oriented management skills makes
the port unique in all respects. He is the driving force behind the project.
Col
S B Puri, Director, Skilful, his vast
technical knowledge coupled with commitment makes him the pillar of the project.
He is keen to make the port an efficient and advanced entity.
C
Sridhar, Director, Industrious, his
expertise and perseverance inspire the team to reach milestones and set new
standards for this modern-age construction.
Anil
Yendluri, Chief Executive Officer, Competent, his
integrity and resolve help the growth of the port and steer it to rise as
M.A.R. Ansari, President – Engineering, Perceptive, his
practical experience in marine infrastructure projects equips the team with
knowledge and competitive work methods.
About the Port
A world class
port on the Indian horizon…
Spearheading
fast-track maritime and industrial growth in the large geographical spread of
it's economically vibrant hinterland, Krishnapatnam port
is the fastest growing maritime gateway to peninsular
Krishnapatnam is a deep water all weather port being developed on
build-operate-share-transfer basis in public-private partnership mode between
the Government of Andhra Pradesh and the Subject promoted
by C.V.R. Group. It is well equipped to handle dry bulk like
The port is strategically located in the Nellore District of Andhra Pradesh and
180 Kms. from Chennai. The location besides its suitability for rapid
growth offers excellent connectivity.
It is poised to
become the largest port in
Infrastructure
The port has a further potential to double up the number of berths upto
42 Nos. and to augment the cargo handling capacity as required. The road
connectivity can also be increased to 6 lanes for easy access to the port.
For efficient operations Enterprise Port Management System connecting all port
functions and sharing data with port users and minimizing paper work is
being planned.
High end software for weather forecasting and tidal predictions for safety of
ship movements is being provided.
Integrated real time control of cargo handling and management information
system will also be available.
On completion of the first phase, the port has four berths in all, two to
handle Coal and one each for
The berths and stockyards are equipped with state-of-the-art ship unloaders and
ship loaders, which can unload 3,000 Tonnes an hour and load 5,000 Tonnes an
hour. There are also two mobile harbour cranes, stackers, reclaimers and
conveyors. It has a capacity to handle upto 40,000 to 60,000 Tonnes per day.
Repair facilities, gate complex with dedicated lanes and gates for container
traffic and other cargoes and the latest handling equipment are among the major
facilities planned at the port.
The port has a backup area of more than 6500 acres of
land to develop commensurate open bulk cargo storage yards, covered
storage sheds, tank forms and container parking yards.
The port is being equipped to handle
- Containers.
- Bulk
cargo like Coal,
- Break bulk Cargo like granite etc.
- Petrochemicals.
- Project Cargos / ODC.
MEDIA RELEASES:
The vessel MV.
IKAN KEDEWAS called the port on 26th August and the discharge commenced at
12:40 hrs. Within 24 hrs. 55,374 MT of Coal was unloaded from the vessel. This
feat surpassed
JSW Steel Limited,
who is the importer of this coal, has appreciated the Port management, staff,
workers and others who helped in achieving this marvelous feat.
Krishnapatnam port
is all weather port with 24 / 7 operations, all throughout the year. It has 8
berths and a deep draft of 14.2 mtrs capable of handling Capesize and Panamax vessels leading to significant
benefits in ocean freight. The port has state-of-the-art cargo handling equipments
and seamless connectivity to its hinterland. The port provides end-to-end
services from stevedoring to custom documentation and is striving to be one of
the best built and serviced private ports in
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.44.81 |
|
|
1 |
Rs.69.29 |
|
Euro |
1 |
Rs.59.81 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.