|
Report Date : |
19.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
BSCPL INFRASTRUCTURE LIMITED |
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|
|
Formerly Known
As : |
B. SEENAIAH AND COMPANY (PROJECTS) LIMITED |
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Registered
Office : |
M. No. 8-2-502/1/A, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
31.03.1998 |
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Com. Reg. No.: |
029154 |
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Capital
Investment / Paid-up Capital : |
Rs.248.573 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45203AP1998PLC029154 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDB00839G |
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PAN No.: [Permanent Account No.] |
AAACB8316K |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Construction of Buildings and Roads |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRAs Rating : |
A (59) |
|
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 26597000 |
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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.
General Financial position of the company appears to be sound. However, 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 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 September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
M. No. 8-2-502/1/A, JIVI Towers, Road No. 7, Banjara Hills, Hyderabad 500034,
Andhra Pradesh, India |
|
Tel. No.: |
91-40-23307704 / 23307831 / 23303663 |
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Fax No.: |
91-40-23307385 |
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E-Mail : |
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Website : |
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Branch : |
Ambhanilaya Sampige Road, Near Gandhi Circle Channarayapatna Dist
Hassan 573116, Karnataka, India |
DIRECTORS
AS ON 21.09.2011
|
Name : |
Mr. Bollineni Krishnaiah |
|
Designation : |
Director |
|
Date of Birth/Age : |
01.07.1943 |
|
Date of Appointment : |
18.05.2005 |
|
|
|
|
Name : |
Mr. Bollineni Seenaiah |
|
Designation : |
Director |
|
Date of Birth/Age : |
01.07.1951 |
|
Date of Appointment : |
31.03.1998 |
|
|
|
|
Name : |
Mr. Kolappa Thanu Pillai |
|
Designation : |
Director |
|
Date of Birth/Age : |
14.05.1935 |
|
Date of Appointment : |
15.11.2002 |
|
|
|
|
Name : |
Mr. Rajiv D Sahney |
|
Designation : |
Director |
|
Date of Birth/Age : |
06.09.1962 |
|
Date of Appointment : |
05.06.2006 |
|
|
|
|
Name : |
Mr. Narayanaswami Sivaraman |
|
Designation : |
Director |
|
Date of Birth/Age : |
12.04.1958 |
|
Date of Appointment : |
24.12.2007 |
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|
|
|
Name : |
Mrs. Parvathaneni Murli Krishna |
|
Designation : |
Director |
|
Date of Birth/Age : |
17.07.1951 |
|
Date of Appointment : |
16.09.2011 |
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|
|
|
Name : |
Mr. Ashoke Joshi |
|
Designation : |
Director |
|
Date of Birth/Age : |
05.09.1943 |
|
Date of Appointment : |
16.09.2011 |
|
|
|
|
Name : |
Mr. Amitabha Guha |
|
Designation : |
Director |
|
Date of Birth/Age : |
10.11.1948 |
|
Date of Appointment : |
16.09.2011 |
|
|
|
|
Name : |
Mr. Man Mohan Agrawal |
|
Designation : |
Director |
|
Date of Birth/Age : |
04.08.1950 |
|
Date of Appointment : |
16.09.2011 |
|
|
|
|
Name : |
Mr. Kameshwara Rao Bhagwathi |
|
Designation : |
Director |
|
Date of Birth/Age : |
15.08.1931 |
|
Date of Appointment : |
16.09.2011 |
|
|
|
|
Name : |
Mr. Deependu Jain |
|
Designation : |
Director |
|
Date of Birth/Age : |
03.04.1981 |
|
Date of Appointment : |
31.03.2008 |
KEY EXECUTIVES
|
Name : |
Mr. Bahdaru Subramanya Bhaskar |
|
Designation : |
Secretary |
|
Date of Birth/Age : |
20.06.1965 |
|
Date of Appointment : |
01.07.2006 |
|
|
|
|
Name : |
Mr. Ramesh |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 21.09.2011
|
Names of Shareholders |
No. of Shares |
|
Bollineni Krishnaiah |
2280000 |
|
Bollineni Seenaiah |
4847180 |
|
B Bhaskara Rao |
1200000 |
|
T Dayakar |
200000 |
|
Ch Janardhana Rao |
52742 |
|
B Sujatha |
2361450 |
|
D Anitha |
1500000 |
|
T Lalithamma |
500000 |
|
D Lakshmi Kanthamma |
751434 |
|
B Aishwarya |
1909672 |
|
B Yamuna |
1242870 |
|
B Sandeep |
1103170 |
|
New Vernon Private Equity Limited |
2836878 |
|
Tattersalls Limited |
475000 |
|
Tiger Veda Bharat |
943440 |
|
LB India Holdings Mauritius Limited, Mauritius |
732984 |
|
Amansa Investments Limited |
436300 |
|
L and T Capital Company Limited |
611616 |
|
L and T Infrastructure Finance Company Limited |
436300 |
|
Infrastructure Development Finance Company Limited |
436300 |
|
Total |
24857336 |
AS ON 21.09.2011
|
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] |
|
21.82 |
|
Bodies corporate |
|
5.97 |
|
Directors or relatives of directors |
|
72.21 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Construction of Buildings and Roads |
PRODUCTION STATUS
AS ON 31.03.2010
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Crushing Activity |
Qty in MT |
3132360 |
1071740 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
ICICI Bank Limited, ICICI Bank Towers, Plot No.
12, Nanakramguda, Serilingampally, Hyderabad 500032, Andhra Pradesh, India ·
Abu Dhabi Commercial Bank ·
Vijaya Bank, Public Gardens Road Branch, Near Andhra
Pradesh Assembly, Hyderabad 500001, Andhra Pradesh, India |
||||||||||||||||||||||||||||||||||||
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Facilities : |
Rs. In Millions
|
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Banking
Relations : |
-- |
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Auditors : |
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|
Name 1 : |
Walker Chandiok and Company Chartered Accountant |
|
Address : |
3rd Floor, Uptown Banjara Road, No. 3, BAnjara Hills,
Hyderabad 500034, Andhra Pradesh, India |
|
|
|
|
Name 2 : |
Anjaneyulu and Company Chartered Accountant |
|
Address : |
30, Bhagyalakshmi Nagar,
Kawadiguda, Hyderabad 500080, Andhra Pradesh, India |
|
|
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Subsidiaries : |
1) BSCPL International FZE 2) BSCPL Realty Limited 3) BSCPL Infra Projects Limited |
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|
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Subsidiaries of BSCPL Infra Projects Limited: |
1) BSCPL Godhra Tollways Limited 2) BSC-C and C Kurali Toll Road Limited |
|
|
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|
Joint ventures of BSCPL International FZE: |
1) Green Desert Ventures Limited, Dubai 2) Green Desert Ventures Inc., Bahamas 3) Progressive International Holdings
Inc., British Virgin Islands |
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|
|
|
Joint Ventures (JV): |
1) BSC C and C (JV) 2) BSC-RBM-PATI (JV) 3) Madhava Hytech BSCPL (JV) 4) HES-BSCPL (JV) 5) SOMA BSCPL (JV) 6) BSCPL- SCL (JV) 7) SCL-BSCPL (JV) 8) BSC-KGLC (JV) 9) CR18G-BSCPL (JV) 10) BSC-C and C(JV) Nepal Private Limited 11) BSCPL-KGLC Airport JV 12) BSCPL- KMC- Oriental JV 13) Mokama Munger Highway Limited 14) North Bihar Highway Limited |
|
|
|
|
Joint venture of BSCPL Infra Projects Limited: |
1) Simhapuri Expressway Limited |
|
|
|
|
Companies owned by or where significant influence exercised by Key Management
Personnel (KMP) or their relatives: |
1) Bollineni Castings and Steels Limited 2) Bollineni Developers Limited 3) Aishu Castings Limited 4) Aishu Projects Limited 5) Amar Biotech Limited 6) Krishna Institute of Medical Sciences
Limited (KIMS) 7) Bollineni Family Trust |
CAPITAL STRUCTURE
AS ON 21.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs. 10 each |
Rs.400.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24857336 |
Equity Shares |
Rs. 10 each |
Rs.248.573 millions |
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs. 10 each |
Rs.300.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24857336 |
Equity Shares |
Rs. 10 each |
Rs.248.573 millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
248.573 |
124.286 |
124.286 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
6400.720 |
5996.907 |
5186.387 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
6649.293 |
6121.193 |
5310.673 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7699.921 |
6052.179 |
3910.368 |
|
|
2] Unsecured Loans |
1549.700 |
753.573 |
2153.836 |
|
|
TOTAL BORROWING |
9249.621 |
6805.752 |
6064.204 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
OTHER LIABILITIES |
212.984 |
264.499 |
225.142 |
|
|
|
|
|
|
|
|
TOTAL |
16111.898 |
13191.444 |
11600.019 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2659.185 |
2852.682 |
2854.972 |
|
|
Capital work-in-progress |
339.788 |
163.160 |
399.695 |
|
|
|
|
|
|
|
|
INVESTMENT |
2712.683 |
1036.350 |
614.730 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4101.288
|
2961.898 |
2694.862 |
|
|
Sundry Debtors |
3520.047
|
2982.672 |
1916.012 |
|
|
Cash & Bank Balances |
573.819
|
359.586 |
378.575 |
|
|
Other Current Assets |
51.284
|
221.196 |
164.133 |
|
|
Loans & Advances |
5880.949
|
4376.256 |
3786.677 |
|
Total
Current Assets |
14127.387
|
10901.608 |
8940.259 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
733.212
|
903.583 |
853.304 |
|
|
Other Current Liabilities |
2972.127
|
839.952 |
349.902 |
|
|
Provisions |
21.806
|
18.821 |
6.431 |
|
Total
Current Liabilities |
3727.145
|
1762.356 |
1209.637 |
|
|
Net Current Assets |
10400.242
|
9139.252 |
7730.622 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
16111.898 |
13191.444 |
11600.019 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
4854.645 |
7864.497 |
5398.684 |
|
|
|
Other Income |
219.476 |
143.487 |
187.547 |
|
|
|
TOTAL (A) |
5074.121 |
8007.984 |
5586.231 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials Consumed |
1557.703 |
3240.789 |
2217.484 |
|
|
|
Contract Expenses |
0.000 |
0.000 |
2058.376 |
|
|
|
Personnel Expenses |
0.000 |
0.000 |
669.431 |
|
|
|
Increase/(Decrease) in Finished Goods |
0.000 |
0.000 |
(709.668) |
|
|
|
RESTRUCTURING Charges |
1185.417 |
2071.556 |
0.000 |
|
|
|
Administrative Expenses |
1055.402 |
1014.683 |
180.175 |
|
|
|
TOTAL (B) |
3798.522 |
6327.028 |
4415.798 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1275.599 |
1680.956 |
1170.433 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
913.707 |
758.587 |
502.128 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
361.892 |
922.369 |
668.305 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
455.215 |
432.815 |
373.859 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
ITEMS |
(12.406) |
31.346 |
15.908 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(80.917) |
520.900 |
278.538 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(609.016) |
(289.620) |
(192.726) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
528.099 |
810.520 |
471.264 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS BALANCE BROUGHT FORWARD |
2664.172 |
1853.652 |
1463.407 |
|
|
|
|
|
|
|
|
|
Add |
Adjustment for
Change in Accounting Policy |
NA |
NA |
1.830 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to Debenture Redemption Reserve
Fund |
NA |
NA |
82.849 |
|
|
BALANCE CARRIED
TO THE B/S |
3192.271 |
2664.172 |
1853.652 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
278.143 |
188.974 |
89.073 |
|
|
|
Capital Goods |
26.092 |
3.068 |
268.949 |
|
|
TOTAL IMPORTS |
304.235 |
192.042 |
358.022 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
21.25 |
32.61 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
10.40
|
10.12 |
8.43 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(1.66)
|
6.62 |
5.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.19)
|
3.78 |
2.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01)
|
0.08 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.98
|
1.44 |
1.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.79
|
6.18 |
7.39 |
LOCAL AGENCY FURTHER INFORMATION
Note:
Registered office of the company has been shifted from 6-2-913/914, 5th Floor, Proghressive Tower, Khairatabad, Hyderabad 500004, Andhra Pradesh to the present address. As confirmed by Mr. Ramesh, Accountant.
PERFORMANCE:
The revenue for the FY 10-11 was lower by Rs.4321.900 millions (29.46%)
as compared to the previous FY 09-10. Though the Company could bag good number
of EPC/BOT Projects during the year under review, with a comfortable order book
position of Rs. 57780 millions (as on July 31, 2011), a substantial portion of
it could not be converted into revenues due to delay in handing over of land by
NHAI and delay in receiving the Appointed Dates and thereby leading to a delay
in commencing the work. In spite of having achieved the required financial
closure by the SPV Companies executing the BOT Projects, the work could not be
started by the company, as an EPC Contractor for the said reasons. As a result,
the company incurred revenue expenditure on running the camps at sites,
mobilizing men and machines. These expenses also impacted the EBIDTA margins.
However, the Board is optimistic that from the third quarter of the current FY
11-12, the revenue flows would improve as the construction work at three BOT
Projects has commenced.
FIXED ASSETS:
·
Land
·
Building
·
Project Site Offices
·
Plant and Machinery
·
Construction Equipments
·
Other Equipments
·
Furniture and Fixtures
·
Computer
·
Vehicle
FORM 8
|
Corporate
identity number of the company |
U45203AP1998PLC029154 |
|
Name of the
company |
BSCPL INFRASTRUCTURE LIMITED |
|
Address of the
registered office or of the principal place of business in |
M. No. 8-2-502/1/A, JIVI Towers, Road No. 7, Banjara Hills, Hyderabad
500034, Andhra Pradesh, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
ICICI Bank Limited, ICICI Bank Towers, Plot No. 12, Nanakramguda,
Serilingampally, Hyderabad 500032, Andhra Pradesh, India Email: devdutta.panda@icicibank.com
|
|
Nature of
instrument creating charge |
Deed of
Hypothecation |
|
Date of
instrument Creating the charge |
28.03.2012 |
|
Amount secured by
the charge |
Rs. 1500.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest I-Base + 2.75%p.a.
where the current I-Base is 10.0%" Terms of repayment 16 equal
quarterly Installments starting end of 27 months from first drawdown date. Extent and operation of the charge To secure due
repayment of Rs.1500 millions, including interest thereon. |
|
Short particulars
of the property charged (Including location of the property) |
Residual charge
over current assets and moveable fixed assets of the Borrower Exclusive charge
over DSRA First and
exclusive ranking charge over all receivables of Borrower, both present and
future, arising out of debt infused by Borrower in Infra Project Companies
out of proceeds of Facility. |
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter's background |
Yes |
|
8) No. of employees |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if
applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
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 Intl 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 companys 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.54.87 |
|
|
1 |
Rs.86.46 |
|
Euro |
1 |
Rs.69.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
59 |
This score serves as a reference to assess SCs 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.