MIRA
INFORM REPORT
|
Report Date : |
28.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
ENPRO INDUSTRIES PRIVATE LIMITED
|
|
|
|
|
Registered
Office : |
D 12/4, MIDC, Chinchwad, Pune – 411019, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
15.03.1999 |
|
|
|
|
Com. Reg. No.: |
25-13421 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.50.432
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74210PN1999PTC013421 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEE01528C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE6137H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Mechanical Fluid Systems like Lube Oil System
Injection System, Fuel Handling Systems, Gas Handling and Filtration Skids
and Piping Systems. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1540000 |
|
|
|
|
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 a satisfactory track record. There appears an increase in sales turnover during 2012. Profitability
as well as financial performance of the company seems to be good. Liquidity
position is strong. Trade relations are fair. Business is active. Payment
terms are reported to be usually correct. 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.
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: BB+ |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
10.06.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
10.06.2013 |
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 : |
Mr. Rajesh Wade |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-20-67308000 |
|
Date : |
28.08.2013 |
LOCATIONS
|
Registered Office/ Factory 1 : |
D 12/4, MIDC, Chinchwad, Pune – 411019, Maharashtra, India |
|
Tel. No.: |
91-20-67308000/ 66113656/ 27478292 |
|
Mobile No.: |
91-9765554982 (Mr. Murali Iyer) |
|
Fax No.: |
91-20-27478292 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
3500 Sq. ft |
|
Location : |
Owned |
|
|
|
|
Head Office/ Factory 2: |
A-17, H-Block, MIDC, Pimpri, Pune – 411018, Maharashtra, India |
|
Tel. No.: |
91-20-66113666/ 27472157 |
|
Fax No.: |
91-20-27470909 |
|
Area : |
3500 Sq. ft |
|
Location : |
Owned |
|
|
|
|
Factory 3: |
Gat No.215/216/218/219, Alandi Markal, Pune – 412105, Maharashtra,
India |
|
Area : |
5.5 acre |
|
Location : |
Owned |
DIRECTORS
(AS ON 28.09.2012)
|
Name : |
Mr. Srikrishna Bhargava Karkare |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
378, Sector 24, PCNTDA, Tilak Road, Pradhikaran Nigdi, Pune – 411044,
Maharashtra, India |
|
Date of Birth/Age : |
13.10.1959 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.07.1999 |
|
DIN No.: |
00409347 |
|
|
|
|
Name : |
Ms. Alka Srikrishna Karkare |
|
Designation : |
Whole Time Director |
|
Address : |
378, Sector 24, PCNTDA, Tilak Road, Pradhikaran Nigdi, Pune – 411044,
Maharashtra, India |
|
Date of Birth/Age : |
21.10.1959 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.07.1999 |
|
DIN No.: |
00409408 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh Wade |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 28.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Srikrishna Bhagava Karkare |
|
3029400 |
|
Alka Srikrishna Karkare |
|
1817527 |
|
Siddharth Srikrishna Karkare |
|
97825 |
|
Arjun Srikrishna Karkare |
|
97823 |
|
|
|
|
|
Total |
|
5042575 |
(AS ON 29.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of Directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Mechanical Fluid Systems like Lube Oil System Injection
System, Fuel Handling Systems, Gas Handling and Filtration Skids and Piping
Systems. |
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|
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|
Products : |
·
Lube Oil Systems ·
Fuel Handling Skids ·
Fuel Gas/ Offshore Gas/ Refinery Gas Handling
Systems ·
Chemical Injection Systems ·
Seal Gas Units ·
Water Wash Units ·
Air Processing Units ·
Code Stamped Pressure Vessels and Heat Exchangers |
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Exports : |
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||||||||||||||
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Products : |
Finished Goods |
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Countries : |
· France · USA · Japan |
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Imports : |
|
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|
Products : |
Raw Materials |
||||||||||||||
|
Countries : |
Italy |
GENERAL INFORMATION
|
Customers : |
End Users ·
GE Power Systems, USA and Europe ·
Siemens - Demag Delaval Turbomachinery ·
GE Energy Products, Europe ( ·
·
Nuovo Pignone (GE Oil and Gas), ·
Reliance Industries Limited ·
Shin Nippon Machinery, ·
Bharat Heavy Electricals Limited ·
·
Larsen and Toubro Limited ·
Ebara Corporation, ·
Alstom Power / Projects ( ·
Peter Brotherhood, ·
Kirloskar Ebara Pumps Limited ·
·
Sulzer Pumps India Limited ·
ZEECO Inc, ·
KSB Pumps Limited ·
TOYO Denki Power Systems Limited, Japan/India ·
Demag Kirloskar Compressors Limited ·
TOYO Engineering Corporation, Japan/India ·
Thyssen-Krupp Industries ·
Shin Thermo Dynamic Engineering, India ·
Bharat Petroleum Corporation Limited |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
· The Saraswat Co-Operative Bank Limited Pimpri Chinchwad Branch, Chinchwad, Pune – 411018, Maharashtra, India · State Bank of India Gresham House, Sir P.M. Road, Fort, Mumbai – 400001, Maharashtra, India · HDFC Bank Limited · Kotak Mahindra Bank · Barclays Bank · Standard Chartered Bank Limited · YES Bank Bhanarkar Road, Pune, Maharashtra, India · The Saraswat Co-Operative Bank Limited F C Road Branch, Pune – 411004, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
R M Rajapurkar and Company Chartered Accountants |
|
Address : |
1- Regent Avenue, Sambhaji Chowk, Pradhikaran,
Nigdi, Pune – 411044, Maharashtra, India |
|
PAN No.: |
AAIFR3873N |
CAPITAL STRUCTURE
(AS ON 28.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5250000 |
Equity Shares |
Rs.10/- each |
Rs.52.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5042575 |
Equity Shares |
Rs.10/- each |
Rs.50.426
Millions |
|
|
|
|
|
(AS ON 31.03.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5250000 |
Equity Shares |
Rs.10/- each |
Rs.52.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5043175 |
Equity Shares |
Rs.10/- each |
Rs.50.432
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 |
|
50.432 |
40.345 |
|
(b) Reserves & Surplus |
|
334.159 |
271.169 |
|
(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) |
|
384.591 |
311.514 |
|
|
|
|
|
|
(3) Non-current liabilities |
|
|
|
|
(a) long-term borrowings |
|
155.419 |
184.185 |
|
(b) Deferred tax liabilities (Net) |
|
8.929 |
0.604 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
164.348 |
184.789 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
|
474.087 |
409.372 |
|
(b) Trade payables |
|
71.052 |
38.463 |
|
(c) Other current
liabilities |
|
187.274 |
53.604 |
|
(d) Short-term provisions |
|
63.466 |
52.560 |
|
Total Current
Liabilities (4) |
|
795.879 |
553.999 |
|
|
|
|
|
|
TOTAL |
|
1344.818 |
1050.302 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
419.675 |
87.477 |
|
(ii) Intangible Assets |
|
1.320 |
0.753 |
|
(iii) Capital
work-in-progress |
|
0.000 |
204.315 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
5.025 |
31.238 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
2.750 |
2.364 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
428.770 |
326.147 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
393.202 |
237.559 |
|
(c) Trade receivables |
|
325.877 |
361.122 |
|
(d) Cash and cash
equivalents |
|
44.326 |
31.784 |
|
(e) Short-term loans and
advances |
|
78.752 |
65.948 |
|
(f) Other current assets |
|
73.891 |
27.742 |
|
Total
Current Assets |
|
916.048 |
724.155 |
|
|
|
|
|
|
TOTAL |
|
1344.818 |
1050.302 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
40.345 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
213.548 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
253.893 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
392.709 |
|
|
2] Unsecured Loans |
|
|
4.300 |
|
|
TOTAL BORROWING |
|
|
397.009 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.933 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
651.835 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
140.268 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
100.845 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
89.925
|
|
|
Sundry Debtors |
|
|
273.060
|
|
|
Cash & Bank Balances |
|
|
5.548
|
|
|
Other Current Assets |
|
|
67.314
|
|
|
Loans & Advances |
|
|
24.030
|
|
Total
Current Assets |
|
|
459.877 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
11.228
|
|
|
Other Current Liabilities |
|
|
7.031
|
|
|
Provisions |
|
|
30.896
|
|
Total
Current Liabilities |
|
|
49.155
|
|
|
Net Current Assets |
|
|
410.722
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
651.835 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1071.020 |
777.110 |
747.003 |
|
|
|
Other Income |
NA |
22.242 |
2.694 |
|
|
|
TOTAL (A) |
NA |
799.352 |
749.697 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Costs |
NA |
|
450.065 |
|
|
|
Employee Costs |
NA |
|
70.905 |
|
|
|
Manufacturing Costs |
NA |
|
72.669 |
|
|
|
Administrative Costs, Selling and Distribution Costs |
NA |
|
46.178 |
|
|
|
TOTAL (B) |
NA |
711.145 |
639.817 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
(Including
Interests and Depreciation) |
109.880 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
|
20.060 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
|
89.820 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
|
5.106 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
91.350 |
88.207 |
84.714 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
30.236 |
17.387 |
14.854 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
61.114 |
70.820 |
69.860 |
|
|
|
|
|
|
|
|
|
|
IMPORT VALUE |
141.421 |
133.223 |
91.027 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
484.767 |
343.697 |
269.634 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.14 |
12.88 |
17.32 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
8.86 |
9.31
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.53
|
11.35 |
11.34
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.82
|
10.83 |
14.11
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.28 |
0.33
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.64
|
1.91 |
1.75
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15
|
1.31 |
9.35
|
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM DEBTS DETAIL: NOT AVAILABLE
|
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 |
Yes |
|
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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 |
PERFORMANCE
This is the
thirteen year of Company. The Company has posted an impressive growth in
revenues in comparison to the previous year. The turnover of the company has been
in line with the growth pattern of average CAGR of about 20%. The export
percentage of the sales has increased to 48%.
However the bottom
line of the company has reduced to 5.95% this year which can BE basically
attributed to the huge normal and additional depreciation cost and the finance
cost for the last quarter incurred on the newly opened Markal Plant.
The Company has
been successful in completing the construction of the Markal Plant by 1
September, 2011. st With this expansion in place the company looks forward to
increasing its business in the coming years.
The company has closed its order book with an impressive 1040 million
rupees.
REVIEW OF OPERATION
The renewal audits
for ASME U stamp and ISO 9001- 2000 quality system certification were success
fully completed in this year thus ensuring maintenance of world class quality
standards. Several training programmes for lean manufacturing were conducted.
Improved
management of production and procurement practices has resulted in improved
on-time performance and improved inventory control. The Company has also
ventured into 3-D modeling of its products which has become a de-facto standard
in this industry. Necessary training was provided to the design department by
Auto-Desk in this regard.
CONTINGENT
LIABILITIES NOT PROVIDED FOR:- (As on 31.03.2012)
a) Un-expired Bank Guarantees issued to third parties as on 31st March,
2012 is Rs.252.848 Millions (Previous Year Rs.114.549 millions)
b) Claims against companies not admitted as debts Rs. Nil as per
information and explanation given.
c) Disputed taxation, Income Tax- Appeal for disputed Income Tax demand
pending before ITAT for A.Y 08-09
Rs.9.634 Millions Out of which Rs.5.0000 Millions has been paid. Balance
contingent liability is of Rs.4.634 Millions.
d) Estimated amount of contracts remaining to be executed on capital
account (Net of advances)? Rs. Nil.
INDEX OF CHARGES
|
S. No. |
Charge
ID |
Date
of Charge Creation/ Modification |
Charge
amount secured |
Charge
Holder |
Address |
Service
Request Number (SRN) |
|
1 |
10421914 |
28/03/2013 |
6,200,000.00 |
THE
SARASWAT CO-OPERTIVE BANK LTD. |
C-2
KOHINOOR ESTATE CO-OPERATIVE HOUSING SOCIETY, |
B73791659 |
|
2 |
10429557 |
28/03/2013 |
140,000,000.00 |
THE
SARASWAT CO-OPERATIVE BANK LTD. |
C-2
KOHINOOR ESTATE CO-OPERATIVE HOUSING SOCIETY, |
B73791071 |
|
3 |
10334429 |
11/04/2011 |
581,914.00 |
THE
SARASWAT CO - OPERATIVE BANK LIMITED |
F C
ROAD BRANCH, PUNE, MAHARASHTRA - 411004, INDIA |
B27297472 |
|
4 |
10264774 |
13/01/2011 |
509,000.00 |
THE
SARASWAT COOPERATIVE BANK LTD |
C-2,
KOHINOOR ESTATE COOPERATIVE HOUSING SOC, PLOT NO 12, MULA ROAD, SANGAMWADI,
PUNE, MAHARASHTRA |
B05453642 |
|
5 |
10181646 |
30/09/2009 |
185,100,000.00 |
STATE
BANK OF INDIA |
GRESHAM
HOUSE, SIR P.M. ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A71955413 |
|
6 |
10130983 |
01/11/2008 |
5,000,000.00 |
FIRST
LEASING CO OF INDIA LIMITED |
749,
ANNA SALAI,CHENNAI- 600002 |
A51411015 |
|
7 |
10116228 |
03/07/2008 |
1,283,800.00 |
THE
SARASWAT CO - OPERATIVE BANK LIMITED |
F C
ROAD BRANCH, PUNE, MAHARASHTRA - 411004, INDIA |
A43218882 |
|
8 |
10060352 |
11/07/2007 |
500,000.00 |
THE
SARASWAT CO-OPERATIVE BANK LTD |
PIMPRI
BRANCH, PUNE, MAHARASHTRA - 411018, INDIA |
A19104249 |
|
9 |
10060353 |
11/07/2007 |
500,000.00 |
THE
SARASWAT CO-OPERATIVE BANK LTD |
PIMPRI
BRANCH, PUNE, MAHARASHTRA - 411018, INDIA |
A19104777 |
|
10 |
10060357 |
11/07/2007 |
500,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LTD |
PIMPRI
BRANCH, PUNE, MAHARASHTRA - 411018, INDIA |
A19105279 |
|
11 |
80018353 |
30/12/2011
* |
934,100,000.00 |
STATE
BANK OF INDIA |
GRESHAM
HOUSE, SIR P.M. ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B29760071 |
* Date of charge
modification
FIXED ASSETS:
· Land
·
·
· Furniture and Fixture
· Vehicles
· Plant and Machinery
· Electrical Installation
· Office Equipments
· Computer and Periphera
· Trademark and Patents
·
Books and Standards
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.65.67 |
|
|
1 |
Rs.102.20 |
|
Euro |
1 |
Rs.87.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.