1. Summary Information
|
|
|
Country |
|
|
Company Name |
Megha Engineering And Infrastructures Limited |
Principal Name 1 |
Mr. Pitchi Reddy Pamireddy |
|
Status |
Good |
Principal Name 2 |
Mr. Puritipaati Sudharani |
|
|
|
Registration # |
01-050271 |
|
Street Address |
S – 2, Technocrat Indl Estate, Balanagar, |
||
|
Established Date |
07.06.2006 |
SIC Code |
-- |
|
Telephone# |
91-124-4976666 / 91-40-23076483 / |
Business Style 1 |
Manufacturer. |
|
Fax # |
91-124-4976667 / 91-40-23077502 |
Business Style 2 |
service provider |
|
Homepage |
Product Name 1 |
chemical process tanks |
|
|
# of employees |
Not Available |
Product Name 2 |
stainless steel pipes |
|
Paid up capital |
Rs.500,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of Directors – 100% |
Banking |
Andhra Bank Bank of |
|
Public Limited Corp. |
NO |
Business Period |
5 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
A [66] |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiary
Company |
-- |
Meghavaram Power Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
15,411,333,000 |
Current Liabilities |
11,310,578,000 |
|
Inventories |
692,224,000 |
Long-term Liabilities |
2,784,434,000 |
|
Fixed Assets |
840,962,000 |
Other Liabilities |
505,840,000 |
|
Deferred Assets |
0 |
Total Liabilities |
14,600,852,000 |
|
Invest& other Assets |
2,739,166,000 |
Retained Earnings |
4,582,833,000 |
|
|
|
Net Worth |
5,082,833,000 |
|
Total Assets |
19,683,685,000 |
Total Liab. & Equity |
19,683,685,000 |
|
Total Assets (Previous Year) |
13,101,688,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
23,452,168,000 |
Net Profit |
2,729,678,000 |
|
Sales(Previous yr) |
23,193,483,000 |
Net Profit(Prev.yr) |
1,534,327,000 |
MIRA
INFORM REPORT
|
Report Date : |
28.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
MEGHA ENGINEERING AND INFRASTRUCTURES LIMITED |
|
|
|
|
Registered
Office : |
S – 2, Technocrat Indl Estate, Balanagar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
07.06.2006 |
|
|
|
|
Com. Reg. No.: |
01-050271 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.500.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45202AP2006PLC050271 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDM05377B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECM7627A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, service provider of chemical process tanks and stainless
steel pipes. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A [66] |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 20300000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track. Financial position
of the company appears to be sound. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per
commitments. The company can be considered good for normal 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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
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 : |
S – 2, Technocrat Indl Estate, Balanagar, |
|
Tel. No.: |
91-124-4976666 / 91-40-23076483 / 23077041 / 23075076 / 44336700 |
|
Fax No.: |
91-124-4976667 / 91-40-23077502 / 44336800 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.07.2010
|
Name : |
Mr. Pitchi Reddy Pamireddy |
|
Designation : |
Director |
|
Address : |
Plot no.46, Pavan Vihar
Colony, Bowenpally, Secunderabad - 500011 |
|
Date of Birth/Age : |
01.10.1957 |
|
Date of Appointment : |
07.06.2006 |
|
DIN : |
01450174 |
|
|
|
|
Name : |
Mr. Puritipati Venkata Krishna Reddy |
|
Designation : |
Managing Director |
|
Address : |
Plot No
46, Road No. 72, , Prashasan Nagar, IPS Colony, Jubilee Hills, |
|
Date of Birth/Age : |
30.06.1969 |
|
Date of Appointment : |
07.06.2006 |
|
DIN : |
01815061 |
|
|
|
|
Name : |
Mrs. Rama Reddy Pamireddy |
|
Designation : |
Director |
|
Address : |
Plot no.46, Pavan Vihar
Colony, Bowenpally, Secunderabad - 500011 |
|
Date of Birth/Age : |
28.05.1967 |
|
Date of Appointment : |
07.06.2006 |
|
DIN : |
01614179 |
|
|
|
|
Name : |
Mr. Puritipaati Sudharani |
|
Designation : |
Director |
|
Address : |
Plot No
46, Road No. 72, , Prashasan Nagar, IPS Colony, Jubilee Hills, |
|
Date of Birth/Age : |
10.12.1978 |
|
Date of Appointment : |
01.09.2008 |
|
DIN : |
02061208 |
|
|
|
|
Name : |
Mr. Reddy |
|
Designation : |
Director |
|
Address : |
N 3/33, |
|
Date of Birth/Age : |
24.06.1964 |
|
Date of Appointment : |
01.09.2008 |
|
DIN : |
00866243 |
|
|
|
|
Name : |
Mr. Doraiah Palimpati |
|
Designation : |
Whole-time Director |
|
Address : |
8-3-320/G/106, Yellareddy
Guda, Yousuf Guda, |
|
Date of Birth/Age : |
12.06.1957 |
|
Date of Appointment : |
28.11.2009 |
|
DIN : |
02120726 |
|
|
|
|
Name : |
Mr. Venkateswara Pradeep Karumuru |
|
Designation : |
Whole-time Director |
|
Address : |
15-31-Rtp-1-NI-8-D/01/05,
KPHB Mig-Flats V Phase, KPHB Colony, |
|
Date of Birth/Age : |
01.05.1963 |
|
Date of Appointment : |
28.11.2009 |
|
DIN : |
02331853 |
|
|
|
|
Name : |
Mr. Srinivasa Reddy Bonthu |
|
Designation : |
Additional Director |
|
Address : |
Plot No
29, |
|
Date of Birth/Age : |
10.08.1969 |
|
Date of Appointment : |
28.11.2009 |
|
DIN : |
02331802 |
|
|
|
|
Name : |
Mr. Nadipineni Thirupathi Rao |
|
Designation : |
Whole-time Director |
|
Address : |
Plot No.101, Sagar
Society, Banjara Hills, Road No.2, |
|
Date of Birth/Age : |
01.02.1953 |
|
Date of Appointment : |
28.11.2009 |
|
DIN : |
00055610 |
KEY EXECUTIVES
|
Name : |
Mr. J K Chakravarthy Muvvala |
|
Designation : |
Secretary |
|
Address : |
8C, Progressive Colony,
Manovikas Nagar, Bowenpally, Secundrabad |
|
Date of Birth/Age : |
18.08.1976 |
|
PAN : |
ADMPC2324A |
|
Date of Appointment : |
24.12.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.07.2010
|
Names of Shareholders |
|
No. of Shares |
|
Pitchi Reddy Pamireddy |
|
25,494,625 |
|
Puritipati Venkata |
|
24,490,000 |
|
Rama Reddy Pamireddy |
|
6,250 |
|
Puritipaati Sudharani |
|
6,250 |
|
P.Manjali Reddy |
|
2,500 |
|
Peketi Rajesh Reddy |
|
125 |
|
Puritipati Venkata Subba Reddy |
|
125 |
|
Peddinti Raja Reddy |
|
125 |
|
Total |
|
50,000,000 |
As on 30.03.2011
|
Names of Allottee |
|
No. of Shares
Allotted |
|
P.Pitchi Reddy |
|
50989250 |
|
P.V. Krishan Reddy |
|
48980000 |
|
P. Rama |
|
12500 |
|
P.Sudha |
|
12500 |
|
P.Manjali Reddy |
|
5000 |
|
P.V. Subba Reddy |
|
250 |
|
P. Rajesh Reddy |
|
250 |
|
P. Raja Reddy |
|
250 |
|
Total |
|
100,000,000 |
As on 31.07.2010
|
Category |
Percentage |
|
|
|
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, service provider of chemical process tanks and stainless
steel pipes. |
PRODUCTION STATUS As on 31.03.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Spiral Pipe Mill |
MT |
-- |
-- |
68091.950 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Darapaneni and Company Chartered Accountant |
|
Address : |
410-D, Krishna Apartment, Yellareddyguda, Ameerpet, |
|
Tel. No.: |
91-40-23735095 |
|
Fax No.: |
91-40-23736487 |
|
|
|
|
Subsidiaries : |
CIN : U45207DL2008PTC183515 |
|
|
|
|
Associate Companies: |
·
Megha Fibre Glass Industries
Limited (MFGIL) ·
Meil Holdings Limited (MHL) ·
Meil Media Limited (MML) ·
Meil Advanced Systems Limited
(MASL) ·
Megha Structures Private Limited
(MSPL) Enterprises owned or significantly
influenced by Key Management Personnel or their relatives ·
Interactive Corporation (IC) · Pramaans (P) |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000,000 |
Equity Shares |
Rs.10/-each |
Rs.500.000 millions |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000,000 |
Equity Shares |
Rs.10/-each |
Rs.500.000 millions |
|
|
|
|
|
|
|
|
|
|
a.
188,00,000 Equity Shares of Rs. 10/- each fully paid-up have been allotted for consideration
other than cash pursuant to the Business Take Over Agreement
b.
300,00,000 Equity Shares of Rs. 10/- each fully paid-up were issued by way of
bonus shares by.capitalisation of General Reserves
As on 30.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200,000,000 |
Equity Shares |
Rs.10/-each |
Rs.2000.000 millions |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150,000,000 |
Equity Shares |
Rs.10/-each |
Rs.1500.000 millions |
|
|
|
|
|
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
500.000 |
198.500 |
198.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4582.833 |
2211.459 |
758.875 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
5082.833 |
2409.959 |
957.375 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1225.083 |
850.546 |
217.123 |
|
|
2] Unsecured Loans |
1559.351 |
2364.267 |
171.515 |
|
|
TOTAL BORROWING |
2784.434 |
3214.813 |
388.638 |
|
|
DEFERRED TAX LIABILITIES |
49.992 |
38.056 |
[2.037] |
|
|
|
|
|
|
|
|
TOTAL |
7917.259 |
5662.828 |
1343.976 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
840.962 |
667.477 |
180.562 |
|
|
Capital work-in-progress |
51.741 |
45.768 |
112.980 |
|
|
|
|
|
|
|
|
INVESTMENT |
2687.425 |
6.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
692.224
|
166.448 |
396.395 |
|
|
Sundry Debtors |
4802.336
|
4356.563 |
2143.180 |
|
|
Cash & Bank Balances |
5473.171
|
3666.333 |
640.126 |
|
|
Other Current Assets |
885.084
|
1222.736 |
398.243 |
|
|
Loans & Advances |
4250.742
|
2970.363 |
1456.366 |
|
Total
Current Assets |
16103.557
|
12382.443 |
5034.310 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
7252.806
|
6320.201 |
3411.848 |
|
|
Other Current Liabilities |
4057.772
|
792.822 |
417.090 |
|
|
Provisions |
455.848 |
325.837 |
154.938 |
|
Total
Current Liabilities |
11766.426
|
7438.860 |
3983.876 |
|
|
Net Current Assets |
4337.131
|
4943.583 |
1050.434 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7917.259 |
5662.828 |
1343.976 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
23452.168 |
23193.483 |
11523.633 |
|
|
|
Other Income |
365.443 |
87.404 |
30.627 |
|
|
|
TOTAL (A) |
23817.611 |
23280.887 |
11554.260 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Construction and other material Consumed |
8042.176 |
9931.473 |
5661.585 |
|
|
|
Increase / Decrease in stocks |
[61.963] |
172.765 |
[254.533] |
|
|
|
Construction and other works expenses |
9011.008 |
8620.291 |
3983.874 |
|
|
|
Duties and taxes |
1009.504 |
1349.057 |
609.813 |
|
|
|
Employee Costs |
251.182 |
149.775 |
60.568 |
|
|
|
Administrative Expenses |
935.399 |
362.503 |
173.747 |
|
|
|
Prior period adjustments |
4.963 |
[11.633] |
0.000 |
|
|
|
TOTAL (B) |
19192.269 |
20574.231 |
10235.054 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4625.342 |
2706.656 |
1319.206 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
449.658 |
286.724 |
108.807 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4175.684 |
2419.932 |
1210.399 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
38.586 |
33.694 |
7.607 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4137.098 |
2386.238 |
1202.792 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
1407.420 |
851.911 |
426.245 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
2729.678 |
1534.327 |
776.547 |
|
|
|
|
|
|
|
|
|
less |
Tax adjustments
relating to earlier years |
0.000 |
0.460 |
10.153 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1905.459 |
652.875 |
44.539 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
200.000 |
200.000 |
100.000 |
|
|
|
Proposed Dividend |
50.000 |
19.850 |
0.000 |
|
|
|
Interim Dividend |
0.000 |
49.626 |
49.625 |
|
|
|
Corporate Tax on Dividend |
8.304 |
11.807 |
8.433 |
|
|
BALANCE CARRIED
TO THE B/S |
4376.833 |
1905.459 |
652.875 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores & Spares |
3.850 |
0.000 |
-- |
|
|
|
Capital Goods |
26.225 |
156.436 |
-- |
|
|
|
Construction Material |
396.123 |
14.751 |
-- |
|
|
TOTAL IMPORTS |
426.198 |
171.187 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
54.72 |
30.77 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
11.46
|
6.59 |
6.72 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
17.64
|
10.29 |
10.44 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.42
|
18.28 |
23.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.81
|
0.99 |
1.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.86
|
4.42 |
4.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37
|
1.66 |
1.26 |
LOCAL AGENCY FURTHER INFORMATION
Note : Registered office
address of the company has been shifted from S – 3, T.I.E., Balanagar,
OPERATIONAL
PERFORMANCE
The Company has achieved a
turnover of Rs.23452.200 millions for the year ended 31st March
2010, as against the turnover of Rs.23193.500 millions for the year ended 31st March 2009. Gross Profit increased from
Rs.2706.700 millions in 2008-09 to Rs,4625.400 millions in 2009-10 before
Interest and Depreciation. After deducting interest and Finance charges of
Rs.449.700 millions, providing a sum of Rupees Rs.38.500 millions towards
depreciation and an income Tax provision of Rs.1407.500 millions for the year
2009-10, the operations resulted in a Net Profit of Rs.2729.600 millions as
against Rs.1533.900 millions in 2008-09.
FUTURE
OUTLOOK
For Infrastructure
business, numerous opportunities are available across the globe and further
more in each and every state of
The Company is committed to
grab these opportunities in all the above sectors of infrastructure for a
brighter future, The Company has gained following strengths during the
Financial Year 2009-10.
1. Achieved Highest ever Turnover of Rs.23450.000 millions.
2. Obtained prestigious order for four laning of
3. Entering aggressively in Power Generation and
Transmission Projects across
4. Obtained
Accredition certificate from American Petroleum Institute (API).
5. Obtained U Stamp Certificate from American Society of
Mechanical Engineers (ASME).
6. Strengthened with various regional offices, and is in the
process of establishing manufacturing facilities across
With the core resources,
such as men, machinery, experiences and keeping Safety as prime responsibility,
the Company is confident of reaching new heights and will emerge as one of the
best and well diversified infrastructure companies of the Nation with a desire
for Global presence.
SHARE
CAPiTAL
During the year, the Company
increased the Authorised Share Capital from Rs.200.000 millions to Rs.500.000
millions with required approvals from'statutory authorities.
During the year the Company
has issued
a. 1,50,000 equity shares
of Rs.10/- each as fully paid-up amounting to Rs.15,00,000/- on preferential
allotment basis to the promoters.
b. 3,00,00,000 equity
shares of Rs.10/- each as fully paid-up amounting to Rs.30,00,00,000/- as bonus
issue of three shares for every two shares by capitalizing reserves.
After issue of bonus shares
in the ratio of 3:2, the paid up capital of the Company stands at Rs.500.000
millions.
Subsidiaries/Joint
Ventures./ Consortiums /Special Purpose Vehicles
In order to enhance their
competitive strength and to meet the qualification requirements, the Company
from time to time establishing various Subsidiaries, SPVs (Special Purpose
Vehicles), Joint Ventures, Consortiums with other leading Infrastructure and
Manufacturing Companies both in India as well as abroad for executing the
specialized Infrastructure major projects.
The overall progress /
performance of Subsidiaries, Special Purpose Vehicles, Joint Ventures,
Consortiums are satisfactory.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U45202AP2006PLC050271 |
|
Name of the
company |
MEGHA ENGINEERING
& INFRASTRUCTURES LIMITED |
|
Address of the
registered office or of the principal place of business in |
S-2, Technocrat
Industrial Estate, Balanagar, |
|
This form is for |
Modification of Charge |
|
Charge
identification (ID) number of the charge to be modified |
10126068 |
|
Type of charge |
·
Book debts ·
Movable property ·
Others |
|
Particular of
charge holder |
Bank of |
|
Nature of
instrument creating charge |
Hypothecation cum
Loan Agreement (Plant and Machinery, Stocks and Book Debts) dated 17th
February 2010. |
|
Date of
instrument Creating the charge |
17.02.2010 |
|
Amount secured by
the charge |
Rs.2200.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- At BPLR with a minimum of 12% p.a Terms of
Repayment - Cash Credit Limit of Rs.200.000 millions repayable on demand. Margin - 5% Cash
Margin on LC/BG Prospectively. 25% Margin on
Stocks and 40% on Book Debts Extent and
Operation of the charge - The Charge covers entire Credit Facilities aggregating
to Rs.2200.000 millions plus Interest,
additional interest, penal Interest, Costs, Charges and expenses., etc. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Pari Passu fist
charge on current assets and cash margin. Pari Passu first
charge on all fixed assets excluding charged to other FIs/NBFCs Pledge of TDR
Rs.50.000 millions Personal
Guarantees of Shr.P.P.Reddy and Shri.P.V.Krishna Reddy |
|
Date of instrument
modifying the charge |
26.09.2008 |
|
Particulars of
the present modification |
Increase in the
working capital facilities from Rs.1200.000 millions to Rs.2200.000 millions
(Fund based facilities of Rs.200.000 millions and non-fund based facilities
of Rs.2000.000 millions. |
FIXED ASSETS :
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Office Equipments
·
Vehicles
·
Earth Moving Machinery
·
Transport Vehicle
·
Tools and Spares
·
Data Processing Equipment
·
Sheds in Leased Premises
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.45.10 |
|
|
1 |
Rs.71.87 |
|
Euro |
1 |
Rs.63.75 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--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 |
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.