MIRA
INFORM REPORT
|
Report Date : |
17.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
SUSHEE INFRA PRIVATE LIMITED (w.e.f. 01.10.2010) |
|
|
|
|
Formerly Known
As : |
SUSHEE HI-TECH CONSTRUCTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
8-2-293/82/L/246/A/2, Plot No. 246/A/2, Mla's Colony, Road
No. 12, Banjara Hills, |
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|
|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2011 |
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|
|
|
Date of
Incorporation : |
30.12.1986 |
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|
|
|
Com. Reg. No.: |
01-007057 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.253.750 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200AP1986PTC007057 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDS04233F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS8560Q |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
The company is primarily engaged in the business of execution of
Irrigation, Infrastructure and Mining Projects |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4000000 |
|
|
|
|
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Short term = A3 |
|
Rating Explanation |
Moderate degree of safety carry higher credit risk |
|
Date |
Feb 2012 |
|
Rating Agency Name |
CARE |
|
Rating |
Long term Loan = BBB - |
|
Rating Explanation |
Moderate degree of safety it carry moderate credit risk |
|
Date |
Feb 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office / Factory : |
8-2-293/82/L/246/A/2, Plot No. 246/A/2, Mla's Colony, Road
No. 12, Banjara Hills, Hyderabad - 500034, Andhra Pradesh, India |
|
Tel. No.: |
91-40-44337879 / 23323399 |
|
Fax No.: |
91-40-23300044 / 23320011 |
|
E-Mail : |
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|
Website : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Lakshmikanth Reddy Mothukpalli |
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|
Designation : |
Managing director |
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|
Address : |
HIG Block 2, Flat No.8, Baghlingampally, Hyderabad, Andhra
Pradesh, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
09.08.1971 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
11.03.2009 |
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|
DIN No.: |
02585082 |
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|
Other
Directorship
|
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|
Name : |
Mrs. Laxmi Komatireddy |
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|
Designation : |
Director |
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|
Address : |
8-2-293/82/2/6-B, Mla's Colony, Road No. 12, Banjara
Hills, Hyderabad - 500034, Andhra Pradesh, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
10.08.1971 |
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|
Date of Appointment : |
09.05.2002 |
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|
DIN No.: |
00645186 |
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|
Other
Directorship
|
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|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Anil Reddy Komatireddy |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole-time director |
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|
Address : |
8-2-293/82/Jlll/315, Road No.79, Jubliee Hills, Hyderabad
- 500033, Andhra Pradesh, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
22.05.1957 |
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|
Date of Appointment : |
30.12.1986 |
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|
DIN No.: |
00644494 |
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|
Other
Directorship
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. R Adityan |
|
Designation : |
Secretary |
|
Pan No. : |
ADVPA3433H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
K. Anil Reddy S/o K. Papi Reddy |
|
10970000 |
|
K. Rajgopal Reddy S/o K.Papi Reddy |
|
10995000 |
|
K. Laxmi W/o K.Rajgopal Reddy |
|
555000 |
|
K.Anil Reddy (HUF) |
|
1000000 |
|
K.Rajgopal Reddy (HUF) |
|
1000000 |
|
K.Ramya W/o K.Anil Reddy |
|
530000 |
|
Upakar Infra Projects private Limited, India |
|
325000 |
|
Total |
|
25375000 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
1.28 |
|
Directors or relatives of Directors |
98.72 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is primarily engaged in the business of execution of
Irrigation, Infrastructure and Mining Projects |
||||
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|
Products : |
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GENERAL INFORMATION
|
Customers : |
·
NTPC ·
Northeast Frontier Railway ·
Coal India Limited ·
MIDC ·
Ministry of Road Transport and Highways
Government of India ·
One Family One Vision One Mission |
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|
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No. of Employees : |
Not Available |
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Bankers : |
· HDFC Bank · IDBI Bank Limited · State Bank of India ·
ICICI Bank Limited |
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|
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Facilities : |
(Rs.
In Millions)
|
||||||||||||||||||||||||||||||
|
|
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Banking
Relations : |
-- |
|
|
|
|
Financial
Institutions : |
· Kotak Mahindra Prime Limited, 36-38A Nariman Bhavan,, 227, Nariman Point, Mumbai - 400021, Maharashtra, India · Srei Equipment Finance Private Limited, 'Vishwakarma', 86C, Topsia Road, Kolkata - 700046, West Bengal, India ·
L and T Finance Limited, L and T House,
Ballard Estate,, Mumbai - 400001, Maharashtra, India ·
Tata Capital Limited |
|
|
|
|
Auditors : |
|
|
Name : |
Ujjineni and Company Chartered Accountants |
|
Address : |
1-1-379/291, SRT No - 320, Javahar Nagar, Chikkadpally,
Hyderabad – 500020, Andhra Pradesh, India |
|
Tel. No.: |
91-40-27621401 |
|
Mobile No.: |
91-9949318000 / 9951318000 |
|
PAN.: |
AAIPU0039M |
|
|
|
|
Joint venture: |
· ZVS Ratna Sushee (JV) · Sushee ZVS Flowmore (JV) · Sushee Hi-tech Prasad Maytas NCC (JV) · Sushee TTS (JV) |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives |
· Sushee Hi-tech Developers · Sushee Hi-tech Projects Private Limited |
|
|
|
|
Associate |
Sushee Mining Private Limited CIN NO.: U13100AP2008PTC059371 |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
27000000 |
Equity Shares |
Rs.10/- each |
Rs.270.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25375000 |
Equity Shares |
Rs.10/- each |
Rs.253.750
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 |
253.750 |
50.000 |
50.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
747.347 |
747.868 |
645.221 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1001.097 |
797.868 |
695.221 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1151.174 |
1301.138 |
1427.224 |
|
|
2] Unsecured Loans |
758.773 |
569.148 |
283.211 |
|
|
TOTAL BORROWING |
1909.947 |
1870.286 |
1710.435 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
30.223 |
|
|
|
|
|
|
|
|
TOTAL |
2911.044 |
2668.154 |
2435.879 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1122.913 |
1248.068 |
1416.762 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
4.684 |
4.684 |
4.724 |
|
|
DEFERREX TAX ASSETS |
(40.861) |
(40.418) |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
853.129
|
735.860 |
423.881 |
|
|
Sundry Debtors |
1163.904
|
208.798 |
282.582 |
|
|
Cash & Bank Balances |
331.914
|
171.916 |
156.107 |
|
|
Other Current Assets |
39.908
|
41.091 |
25.376 |
|
|
Loans & Advances |
390.189
|
532.277 |
438.417 |
|
Total
Current Assets |
2779.044
|
1689.942 |
1326.363 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
907.145
|
216.544 |
248.507 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
47.591
|
40.236 |
76.446 |
|
Total
Current Liabilities |
954.736
|
256.780 |
324.953 |
|
|
Net Current Assets |
1824.308
|
1433.162 |
1001.410 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
22.658 |
12.983 |
|
|
|
|
|
|
|
|
TOTAL |
2911.044 |
2668.154 |
2435.879 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3060.092 |
2126.831 |
3209.005 |
|
|
|
Other Income |
21.176 |
13.922 |
20.591 |
|
|
|
Accretion in Work in progress |
0.000 |
357.449 |
319.662 |
|
|
|
TOTAL (A) |
3081.268 |
2498.202 |
3549.258 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
604.612 |
757.644 |
|
|
|
Contract, Administrative and Selling Expenses |
|
1148.277 |
1960.121 |
|
|
|
Establishment Expenses |
2453.748 |
177.626 |
164.149 |
|
|
|
Company’s Share in profit in Integrated Joint Ventures / Firms |
|
(5.768) |
(3.597) |
|
|
|
TOTAL (B) |
2453.748 |
1924.747 |
2878.317 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
627.520 |
573.455 |
670.941 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
203.457 |
221.003 |
190.481 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
424.063 |
352.452 |
480.460 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
159.227 |
157.455 |
185.116 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
264.836 |
194.997 |
295.344 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
75.582 |
64.994 |
94.977 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
189.254 |
130.003 |
200.367 |
|
|
|
|
|
|
|
|
|
Less |
Prior Year’s Taxation |
1.025 |
21.506 |
37.248 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
727.868 |
627.221 |
471.952 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1.000 |
1.000 |
1.000 |
|
|
|
Transfer to Contingency Reserve |
1.000 |
1.000 |
1.000 |
|
|
|
Dividend |
0.000 |
5.000 |
5.000 |
|
|
|
Tax on Dividend |
0.000 |
0.850 |
0.850 |
|
|
|
Issue of Bonus Shares |
200.000 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
714.097 |
727.868 |
627.221 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
NA |
7.829 |
21.265 |
|
|
TOTAL IMPORTS |
NA |
7.829 |
21.265 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.42 |
216.99 |
326.23 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
6.41
|
5.20 |
5.65 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.65
|
9.17 |
9.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.79
|
6.64 |
10.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.24 |
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.86
|
2.67 |
2.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.91
|
6.58 |
4.08 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
No |
|
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 |
Yes |
|
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 |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
Note:
The registered office of the company has been shifted from
202, Raghava Cottage, Flat No. 2, Dwarakapur Colony, Panjagutta,
Hyderabad-500082.Andhra Pradesh, India to present address w.e.f.13.02.2008
REVIEW OF
PERFORMANCE:
The Company achieved a turnover of Rs.3060.091 Millions as against Rs. 2126.831 Millions in the previous year. The year has been particularly difficult because of the delay in the implementation of Irrigation projects, by the Government of Andhra Pradesh. The Earnings before interest, depreciation and tax (EBITDA) is Rs.627.521 Millions as against Rs 573.455 Millions in the previous year. The net profit of the company for the year after current year taxes is Rs.189.255 Millions as against Rs.130.003 Millions in the previous year. The Net Profit after tax margin on turnover has improved and stood at 6.15% in current year as against 5.10% in previous year i.e the improvement of PAT is 1.05% of sales.
FORMATION OF JOINT
VENTURES AND ALLIANCES:
In order to enhance its competitive strength, the company from time to time is entering into the joint venture agreements with other leading construction/infrastructure companies for executing specific specialized infrastructure projects/Road Projects.
During the year, the company has entered in Joint Venture agreement with IVRCL Assets and Holdings Limited for one of the Road Project in Arunachal Pradesh. The said JV is called as Sushee-IVRCL JV wherein the Share of Subject is 74% and the Share of IVRCL being 26%.
SECTOR REVIEW
HIGHWAYS
India has an extensive road network of 4.24 million km, the second largest in the world. The National Highways have a total length of 70,934 km and serve as the arterial road network of the country. It is estimated that more than 70% of freight and 85% of passenger traffic in the country is handled by roads. National Highways, which comprise only 2% of the total network, carry 40% of the traffic, and the state roads, which comprise 13% of the total road network, carry another 40% of the traffic. Only about 23% of the total Highways in India are 4/6 lane, about 54% of the national highways, 22% of the state highways are currently two-lane and the sheer potential for investments in this sector is likely to create opportunities in the core construction industry.
RAILWAYS
The Indian Railways (IR) is one of the largest railway systems in the world under a single management and manages more than 64,000 km of railway tracts. Railway infrastructure development includes new lines, doubling, guage conversion and electrification works, rolling stock, safety works and information and communication technology (ICT) projects. It also involves development of stations, terminal, multifunctional complexes, logistics parks and cold storage facilities. The projected investment in railways, including metro railways in the Eleventh Plan is expected to be about Rs. 200.8 billion.
The railway ministry has identified 50 stations to be promoted as world class stations. It is expected that the Indian Railways will shortly initiate projects worth Rs.10 billion to kick-start one of India’s most ambitious infrastructure projects to build dedicated freight corridors to connect North India with Mumbai and West Bengal.
OUTLOOK
While the demand for infrastructure through PPP mode for government continues to remain high, however the pace at which the same is thrown open has proved fairly volatile due to the fact that the world economy substantially influences the demand supply situation in their country. In addition a mature regulatory authority specific to the various sectors of infrastructures continues to evolve. Nevertheless the Company is well positioned to equip itself with a continous stream of infrastructure development projects especially due to the vast reservoir of opportunities being made available by the Government in the medium term.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U45200AP1986PTC007057 |
|
Name of the
company |
SUSHEE INFRA
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
8-2-293/82/L/246/A/2, Plot No 246/A/2, Mla's Colony Road No 12, Banjara Hills, Hyderabad -500034, Andhra Pradesh, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of
charge holder |
Kotak Mahindra Prime Limited, 36-38A Nariman Bhavan,, 227, Nariman Point, Mumbai - 400021, Maharashtra, India |
|
Nature of
instrument creating charge |
Car Finance vide
Loan Agreement No. CF8201069 dated 11.07.2012 |
|
Date of
instrument Creating the charge |
11.07.2012 |
|
Amount secured by
the charge |
Rs.0.610 Million |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Fixed 11.22 Terms of Repayment Repayable in 36
monthly installments due from 11.07.2012 Extent and Operation of the charge 1st Exclusive
Charge on vehicle financed |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Automobiles-Segment
C- Maruti Suzuki India Limited- Maruti Dzire Vdi |
FIXED ASSETS
· Plant and Machinery
· Construction Accessories
· Office Equipment
· Furniture and Fixture
· Construction Vehicles
· Office Vehicles
· Building
· Lands
AS PER WEBSITE
PROFILE
Subject is a leader in Mining and Irrigation sectors with collective expertise to conceive, design and execute Projects across the value chain. Subject is the major flagship of the sushee group associated with prestigious majors viz. Irrigation Department of Andhra Pradesh, Singareni Collieries Company Limited, Coal India Limited. Indian Railways. Sushee has been incorporated, as a company more than two decades ago – involved in multi-disciplinary civil and infrastructure projects.
Subject is re-engineering itself, to integrate with the company’s focus on Mining, Railway Projects, Infrastructure Projects, Irrigation Projects, Mineral exploration, Roads etc. The Company intends to leverage, its expertise and experience to exploit opportunities in these sectors.
Sushee’s commitment to quality, efficiency, discipline and safety has helped it emerge as a company with strong fundamentals. The company strongly believes that continued pursuit of these attributes will contribute immensely for the future growth of the organization. The company has a contingent of dedicated engineers, supervisory personnel, and skilled manpower on regular roles, to meet the challenges of high magnitude.
The company is proud of having equipped with a fleet of modern and latest infrastructure equipment and machinery to keep abreast with latest technology in infrastructure industry.
MANAGEMENT TEAM
DIRECTORS
Mr. K. ANIL REDDY:
Mentor and Chairman
Mr. Reddy, the mentor of the Company is a technocrat with a science degree. He leads the core team and strategically manages product and service innovations, implementation of core competencies, speed-to-market approaches and ingenious use of networks and alliances. With more than 30 years’ experience in varied sectors, his passion, commitment, and approachability serve as valuable assets to penetrate the markets quicker than the competitors.
Mr. LAKSHMIKANTH
REDDY: Managing Director
A progressive individual, Mr. Reddy’s actions reflect and support the leader’s vision. He plays a significant role in the evolution of the management’s style of functioning - to focus on contribution to the larger good and not just the achievement of the company’s objectives. He brings to the table a global experience of over 10 years in Business Development, Administration and Human Resource Management.
Mrs. K. LAXMI REDDY:
Director
The inspiration and driving force of the Company, Mrs. Reddy has been instrumental in making sure that all day-to-day operations are well managed with the strong values of integrity and transparency that Sushee believes in. Besides playing an active role in leading the marketing effort, Mrs. Reddy also manages work order acquisitions and execution aspects of the business.
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.54.73 |
|
|
1 |
Rs.88.61 |
|
Euro |
1 |
Rs.71.34 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
51 |
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.