MIRA INFORM REPORT
|
Report Date : |
02.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
OFFSHORE INFRASTRUCTURES LIMITED |
|
|
|
|
Formerly Known
As : |
OFFSHORE INDUSTRIAL CONSTRUCTION PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
22, Udyog Kshetra, Mulund Link Road, Mumbai - 400080, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
05.09.1995 |
|
|
|
|
Com. Reg. No.: |
11-092409 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 78.765
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200MH1995PLC092409 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUM003493A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO1012F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is a construction company,
specializing in Mechanical Construction, Plant and Process Piping, Pipelines and
Water Mains and Distribution Network, Civil and Structural, Total Fire
Detection and Protection Systems, Gas, Water and Oil Distribution Systems and
other Infrastructure projects. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
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 2680000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having a good track record.
There appears dip in its sales and profitability during 2012. However, general financial strength seems to be strong. Liquidity
position is good. Trade relations are reported to be fair. Business is
active. Payments are reported to be regular and as per commitments The company can be considered 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.
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : (CRISIL) BBB+ |
|
Rating Explanation |
Having moderate degree of safety regarding
timely servicing of financial obligation it carry moderate risk. |
|
Date |
July 2013 |
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.
INFORMATION PARTED BY [GENERAL DETAILS]
|
Name : |
Ms. Anupama |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-66721000 |
|
Date : |
01.08.2013 |
LOCATIONS
|
Registered Office : |
22, Udyog Kshetra, Mulund Link Road, Mumbai - 400080, Maharashtra,
India |
|
Tel. No.: |
91-22-25640416/ 66721000 |
|
Fax No.: |
91-22-25693885 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Bhagwat Singh Negi |
|
Designation : |
Director |
|
Address : |
B-802, Nikka Singh Block, Asian Games Village, New Delhi – 110049,
India |
|
Date of Birth/Age : |
27.10.1946 |
|
Qualification : |
Professional |
|
Date of Appointment : |
01.11.2006 |
|
DIN No.: |
00104536 |
|
|
|
|
Name : |
Mr. Shailesh Sachdev |
|
Designation : |
Director |
|
Address : |
House No 3, Divya Swapna, C G Marg, Chembur, Mumbai - 400071,
Maharashtra, India |
|
Date of Birth/Age : |
25.07.1967 |
|
Qualification : |
Diploma In Civil Engineering |
|
Date of Appointment : |
05.09.1995 |
|
PAN No.: |
AADPS3684D |
|
DIN No.: |
00188761 |
|
|
|
|
Name : |
Mr. Vishal Ranjit Sachdev |
|
Designation : |
Managing director |
|
Address : |
House No 3, Divya Swapna, C G Marg, Chembur, Mumbai - 400071,
Maharashtra, India |
|
Date of Birth/Age : |
02.10.1963 |
|
Qualification : |
Diploma In Mechanical Engineering |
|
Date of Appointment : |
06.09.1995 |
|
PAN No.: |
ABRPS7387N |
|
DIN No.: |
00188764 |
|
|
|
|
Name : |
Mr. Mahendra Bahadursingh Chowhan |
|
Designation : |
Director |
|
Address : |
D-113/114, Lok Aangan, Mulund Colony, Mulund (West), Mumbai – 400082,
Maharashtra, India |
|
Date of Birth/Age : |
14.03.1956 |
|
Qualification : |
Diploma in Civil Engineering |
|
Date of Appointment : |
10.11.2006 |
|
PAN No.: |
AAHPC0566G |
|
DIN No.: |
00227138 |
KEY EXECUTIVES
|
Name : |
Ms. Anupama |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Vishal Sachdev |
|
2313750 |
|
Shailesh Sachdev |
|
1863750 |
|
Ranjit Sachdev (HUF) |
|
1275375 |
|
Dimple Sachdev |
|
1143750 |
|
Payal Sachdev |
|
693750 |
|
Lata Sachdev |
|
585375 |
|
Vishal Sachdev (HUF) |
|
375 |
|
Shailesh Sachdev (HUF) |
|
375 |
|
|
|
|
|
Total |
|
7876500 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is a construction company,
specializing in Mechanical Construction, Plant and Process Piping, Pipelines and
Water Mains and Distribution Network, Civil and Structural, Total Fire
Detection and Protection Systems, Gas, Water and Oil Distribution Systems and
other Infrastructure projects. |
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Products/ Services : |
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Terms : |
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||||
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Selling : |
L/C and Credit |
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|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users ¯
Gail
India Limited ¯
Hindustan
Petroleum Corporation Limited ¯
Bharat
Petroleum Corporation Limited ¯
Indian
Oil Corporation Limited ¯
ONGC ¯
BASF ¯
TATA ¯
JSW ¯
GNFC ¯
BHEL ¯
BARC ¯
Bayer ¯
Castrol ¯
Asian
Paints ¯ Aditya Birla
Group |
||||||||||||||||||||||||
|
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|
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|
No. of Employees : |
500 (Approximately) |
||||||||||||||||||||||||
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|
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|
Bankers : |
¯ HDFC Bank
Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai -
400013, Maharashtra, India [Tel No. 91-22-66521308] ¯ Standard
Chartered Bank, 90, M G Road, Fort, Mumbai - 400001, Maharashtra, India ¯ Yes Bank
Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road,
Worli, Mumbai - 400018, Maharashtra, India ¯ IDBI Bank
Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra,
India ¯ Axis Bank
Limited, 1st Floor, Janmabhoomi Bhavan, Janmabhoomi Marg, Fort, Mumbai -
400001, Maharashtra, India ¯ Punjab National
Bank, CA Road, Chembur, Mumbai - 400071, Maharashtra, India |
||||||||||||||||||||||||
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Facilities : |
|
||||||||||||||||||||||||
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|
|
|
Banking Relations
: |
-- |
|
|
|
|
Financial Institutions : |
¯ 3i Infotech Trusteeship Services Limited, 3rd to 6th floor, International Infotech Park, Tower No.5, Vashi Railway Station Complex, Vashi, Navi Mumbai - 400703, Maharashtra, India ¯ Sundaram
Finance Limited, 21 Patullos Road, Chennai - 600002, Tamilnadu, India |
|
|
|
|
Auditors : |
|
|
Name : |
Chandan Parmar and Company Chartered Accountants |
|
Address : |
Alli Chambers, Ground Floor, Homi Modi, 2nd Cross Lane, Fort, Mumbai –
400023, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAEFC5050A |
|
|
|
|
Associates
Companies : |
¯
Offshore
Welders Private Limited ¯
Offshore
Computers Private Limited ¯
Offshore
Infrastructures Egypt ¯ United New Fire Protection Systems Private
Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,876,500 |
Equity Shares |
Rs. 10/- each |
Rs. 78.765
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
78.765 |
78.765 |
|
(b) Reserves & Surplus |
|
592.184 |
462.476 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
670.949 |
541.241 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
110.071 |
116.457 |
|
(b) Deferred tax liabilities (Net) |
|
4.427 |
3.911 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
114.498 |
120.368 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
359.217 |
358.374 |
|
(b)
Trade payables |
|
578.114 |
784.580 |
|
(c)
Other current liabilities |
|
104.100 |
63.721 |
|
(d)
Short-term provisions |
|
1.661 |
2.683 |
|
Total
Current Liabilities (4) |
|
1043.092 |
1209.358 |
|
|
|
|
|
|
TOTAL |
|
1828.539 |
1870.967 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
253.018 |
233.668 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.038 |
0.038 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
|
13.620 |
13.241 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
266.676 |
246.947 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
243.230 |
504.708 |
|
(c)
Trade receivables |
|
857.499 |
707.995 |
|
(d)
Cash and cash equivalents |
|
315.800 |
257.969 |
|
(e)
Short-term loans and advances |
|
99.137 |
109.939 |
|
(f)
Other current assets |
|
46.197 |
43.409 |
|
Total
Current Assets |
|
1561.863 |
1624.020 |
|
|
|
|
|
|
TOTAL |
|
1828.539 |
1870.967 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
78.765 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
310.995 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
389.760 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
201.693 |
|
|
2] Unsecured Loans |
|
|
130.170 |
|
|
TOTAL BORROWING |
|
|
331.863 |
|
|
DEFERRED TAX LIABILITIES |
|
|
2.603 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
724.226 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
181.312 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1.804 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
327.434 |
|
|
Sundry Debtors |
|
|
542.807 |
|
|
Cash & Bank Balances |
|
|
204.481 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
141.714 |
|
Total
Current Assets |
|
|
1216.436 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
499.852 |
|
|
Other Current Liabilities |
|
|
174.662 |
|
|
Provisions |
|
|
0.812 |
|
Total
Current Liabilities |
|
|
675.326 |
|
|
Net Current Assets |
|
|
541.110 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
724.226 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
3232.948 |
3671.666 |
2807.512 |
|
|
|
Other Income |
19.637 |
12.619 |
9.302 |
|
|
|
TOTAL |
3252.585 |
3684.285 |
2816.814 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
923.779 |
1835.766 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
261.478 |
(177.273) |
|
|
|
|
Employee benefit expense |
551.507 |
434.782 |
|
|
|
|
Other expenses |
1198.740 |
1263.592 |
|
|
|
|
TOTAL |
2935.504 |
3356.867 |
2570.892 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
317.081 |
327.418 |
245.922 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
83.914 |
63.319 |
29.555 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
233.167 |
264.099 |
216.367 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
37.257 |
33.004 |
24.299 |
|
|
|
|
|
|
|
|
|
|
EXCEPTIONAL ITEMS |
0.000 |
(0.930) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
195.910 |
230.165 |
192.068 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
66.201 |
78.684 |
65.687 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
129.709 |
151.481 |
126.381 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
11.478 |
|
|
|
|
|
Capital Goods |
5.000 |
19.392 |
|
|
|
TOTAL IMPORTS |
16.478 |
33.666 |
NA
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.47 |
19.23 |
16.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.99
|
4.11 |
4.49 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.06
|
6.27 |
6.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.71
|
12.30 |
13.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.43 |
0.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.70
|
0.88 |
0.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.50
|
1.34 |
1.80 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Current maturities of long-term debt |
12.739 |
14.966 |
NA |
|
|
|
|
|
|
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10360872 |
26/05/2012 |
500,000.00 |
AXIS BANK
LIMITED |
1ST FLOOR,
JANMABHOOMI BHAVAN, JANMABHOOMI MARG, FORT, MUMBAI - 400001, MAHARASHTRA,
INDIA |
B41727629 |
|
2 |
10317888 |
08/10/2012 * |
700,000,000.00 |
AXIS BANK
LIMITED |
CORPORATE
BANKING BRANCH, AXIS HOUSE, C - 2, WADIA INTERNAL CENTRE, P. B. MARG, WORLI,
MUMBAI - 400025, MAHARASHTRA, INDIA |
B61872818 |
|
3 |
10267379 |
24/01/2011 |
3,841,200.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL [WEST], MUMBAI - 400013, MAHARASHTRA, INDIA |
B05717376 |
|
4 |
10230842 |
25/06/2010 |
1,934,600.00 |
SUNDARAM FINANCE
LIMITED |
21 PATULLOS
ROAD, CHENNAI - 600002, TAMILNADU, INDIA |
A89840730 |
|
5 |
10225623 |
17/06/2010 |
6,333,168.00 |
SUNDARAM FINANCE
LIMITED |
21 PATULLOS
ROAD, CHENNAI - 600002, TAMILNADU, INDIA |
A88063235 |
|
6 |
10218904 |
21/06/2011 * |
490,000,000.00 |
STANDARD
CHARTERED BANK |
CRESCENZO, 3A/F,
PLOT NO. C-38 & 39, G BLOCK, BANDRA KURLA COMPLEX, BANDRA, MUMBAI -
400051, MAHARASHTRA, INDIA |
B16203317 |
|
7 |
10199397 |
22/01/2010 |
1,924,999.00 |
SUNDARAM FINANCE
LIMITED |
21 PATULLOS
ROAD, CHENNAI - 600002, TAMILNADU, INDIA |
A78429065 |
|
8 |
10202781 |
20/01/2010 |
607,530.00 |
SUNDARAM FINANCE
LIMITED |
21 PATULLOS
ROAD, CHENNAI - 600002, TAMILNADU - 600002, INDIA |
A79514279 |
|
9 |
10196179 |
29/12/2009 |
1,933,049.00 |
SUNDARAM FINANCE
LIMITED |
21 PATULLOS
ROAD, CHENNAI - 600002, TAMILNADU, INDIA |
A77292696 |
|
10 |
10188346 |
27/11/2009 |
596,787.00 |
SUNDARAM FINANCE
LIMITED |
21 PATULLOS
ROAD, CHENNAI - 600002, TAMILNADU, INDIA |
A74367376 |
|
11 |
10193021 |
18/11/2009 |
150,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI - 400018,
MAHARASHTRA, INDIA |
A75734558 |
|
12 |
10187595 |
07/10/2009 |
3,569,050.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL [WEST], MUMBAI - 400013, MAHARASHTRA, INDIA |
A74011164 |
|
13 |
10173702 |
13/01/2010 * |
500,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL [WEST], MUMBAI - 400013, MAHARASHTRA, INDIA |
A79754347 |
|
14 |
10168731 |
01/07/2009 |
595,550.00 |
SUNDARAM FINANCE
LIMITED |
21 PATULLOS
ROAD, CHENNAI - 600002, TAMILNADU, INDIA |
A66509860 |
|
15 |
10165397 |
25/06/2009 |
567,055.00 |
SUNDARAM FINANCE
LIMITED |
21 PATULLOS ROAD,
CHENNAI - 600002, TAMILNADU, INDIA |
A64791908 |
|
16 |
10168672 |
22/06/2009 |
1,198,750.00 |
SUNDARAM FINANCE
LIMITED |
21 PATULLOS
ROAD, CHENNAI - 600002, TAMILNADU, INDIA |
A66347550 |
|
17 |
10168673 |
22/06/2009 |
1,198,750.00 |
SUNDARAM FINANCE
LIMITED |
21 PATULLOS
ROAD, CHENNAI - 600002, TAMILNADU, INDIA |
A66349325 |
|
18 |
10168729 |
22/06/2009 |
1,198,750.00 |
SUNDARAM FINANCE
LIMITED |
21 PATULLOS
ROAD, CHENNAI - 600002, TAMILNADU, INDIA |
A66509803 |
|
19 |
10168730 |
22/06/2009 |
1,198,750.00 |
SUNDARAM FINANCE
LIMITED |
21 PATULLOS
ROAD, CHENNAI - 600002, TAMILNADU, INDIA |
A66509837 |
|
20 |
10155089 |
25/03/2009 |
896,000.00 |
SUNDARAM FINANCE
LIMITED |
21 PATULLOS
ROAD, CHENNAI - 600002, TAMILNADU, INDIA |
A61123881 |
|
21 |
10146701 |
25/02/2009 |
610,000.00 |
PUNJAB NATIONAL
BANK |
CA ROAD,
CHEMBUR, MUMBAI - 400071, MAHARASHTRA, INDIA |
A58493594 |
|
22 |
10144140 |
06/06/2009 * |
350,000,000.00 |
IDBI BANK
LIMITED |
IDBI TOWERWTC COMPLEX,
CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
A63380513 |
|
23 |
10111712 |
08/05/2008 |
1,183,900.00 |
SUNDARAM FINANCE
LIMITED |
21 PATULLOS
ROAD, CHENNAI - 600002, TAMILNADU, INDIA |
A40916330 |
|
24 |
10111714 |
08/05/2008 |
1,183,900.00 |
SUNDARAM FINANCE
LIMITED |
21 PATULLOS
ROAD, CHENNAI - 600002, TAMILNADU, INDIA |
A40917122 |
|
25 |
10111717 |
08/05/2008 |
1,183,900.00 |
SUNDARAM FINANCE
LIMITED |
21 PATULLOS
ROAD, CHENNAI - 600002, TAMILNADU, INDIA |
A40917734 |
|
26 |
10095432 |
12/02/2008 |
1,041,480.00 |
SUNDARAM FINANCE
LIMITED |
21 PATULLOS
ROAD, CHENNAI - 600002, TAMILNADU, INDIA |
A35523547 |
|
27 |
10095463 |
12/02/2008 |
1,041,480.00 |
SUNDARAM FINANCE
LIMITED |
21 PATULLOS
ROAD, CHENNAI - 600002, TAMILNADU, INDIA |
A35525542 |
|
28 |
10080530 |
30/04/2010 * |
1,500,000,000.00 |
3I INFOTECH
TRUSTEESHIP SERVICES LIMITED |
3RD TO 6TH
FLOOR, INTERNATIONAL INFOTECH PARK, TOWER NO.5, VASHI RAILWAY STATION
COMPLEX, VASHI, NAVI MUMBAI - 400703, MAHARASHTRA, INDIA |
A84509579 |
|
29 |
10007036 |
19/05/2006 |
1,345,500.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL [WEST], MUMBAI - 400013, MAHARASHTRA, INDIA |
A01288505 |
* Date of charge modification
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
105.197 |
104.457 |
|
Total |
105.197 |
104.457 |
BUSINESS OPERATIONS
The Company is into the business of Infrastructural Development. It has been involved in wide range of projects like Water Supply distribution networks, Refinery and process plants, Oil terminals, Mass housing, Power plants and nuclear facilities, Cross country pipelines(oil and gas), Turnkey fire protection systems. These services have been rendered to varied nature of clientele like Government Bodies, Municipal Corporation, Defense Authorities, Civic bodies, Public Corporations. Varied nature of contracts have been entered into and executed by the company. Some of them have already been completed and benefits of the same have already started accruing. Contracts under progress are periodically reviewed by the Board.
PROSPECTS
The Directors expect to achieve better performance and generate return during the Current year by taking up more projects in varied dimensions and discipline.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. in Millions) |
|
|
Guarantees given to customers and others through banks |
1797.699 |
1365.500 |
|
Letter of Credit issued by banks on company’s behalf |
10.427 |
41.300 |
|
Claims against the Company not acknowledged as debt |
10.602 |
10.602 |
|
Disputed Demand under M.P. VAT Act |
8.148 |
8.148 |
FIXED ASSETS:
¯ Buildings
¯ Office building
¯ Plant and equipment
¯ Other plant and equipment
¯ Furniture and fixtures
¯ Vehicles
¯ Motor vehicles
¯ Office equipment
¯ Computer equipments
¯ Other equipments
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 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 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. 60.74 |
|
|
1 |
Rs. 92.06 |
|
Euro |
1 |
Rs. 80.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.