|
Report Date : |
14.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
SULZER INDIA LIMITED |
|
|
|
|
Registered
Office : |
Gat No. 304, At Kondhapuri, Taluka Shirur, Kondhapuri – 412209, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
11.04.1988 |
|
|
|
|
Com. Reg. No.: |
25-046977 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 34.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29297PN1988PLC046977 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNES00904B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS7876D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Engineering Products. |
|
|
|
|
No. of Employees
: |
500 (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 3700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. General position of the company appears to be good. Liquidity position
appears to be strong. Trade relation reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered for business dealing 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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
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
|
Name : |
Mr. Shrikrishna Korde |
|
Designation : |
Company Secretory |
|
Contact No.: |
91-2137-304000 |
|
Date : |
10.12.2013 |
LOCATIONS
|
Registered/ Corporate Office : |
Gat No. 304, At Kondhapuri, Taluka Shirur, Kondhapuri – 412209, Maharashtra,
India |
|
Tel. No.: |
91-2137-304000 / 304802 |
|
Fax No.: |
91-2137-304111 / 222/ 304319 |
|
E-Mail : |
|
|
Website : |
http://www.sulzerindia.com
|
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Village Kondhapuri, Pune Ahmednagar Road, Taluka Shirur, District Pune
– 412209, Maharashtra, India |
|
Tel No.: |
91-2137-304000 |
|
Fax No.: |
91-2137-304111/ 222 |
|
|
|
|
Regional Offices 1 : |
Offtel Towers, ‘Z’ Floor, R.C. Dutt Road, Alkapuri Boroda - 390007,
Gujarat, India |
|
Tel. No.: |
91-265-2342194 |
|
Fax No.: |
91-265-2342394 |
|
|
|
|
Regional Offices 2 : |
1015-1019, Ansal Tower, 38 Nehru Place, New Delhi-110019, India |
|
Tel. No.: |
91-11-26294771 / 2 |
|
Fax No.: |
91-1126294226 |
|
|
|
|
Regional Offices 3 : |
|
|
Tel. No.: |
91-44-24992436 / 24987415 |
|
Fax No.: |
91-44-24992394 |
|
|
|
|
Regional Offices : |
Also located at: ·
Chennai ·
·
Vadodara |
DIRECTORS
As on: 25.09.2013
|
Name : |
Mr. Narasimharao Subrahmanya Venkata Rallabhandi |
|
Designation : |
Director |
|
Address : |
Flat 2A Sayali Garden, Wireless Colony, Aundh, Pune – 411007,
Maharashtra, India |
|
Date of Birth/Age : |
07.07.1962 |
|
Qualification : |
B. Tech., PGDIE |
|
Date of Appointment : |
29.08.2011 |
|
DIN No.: |
00122631 |
|
|
|
|
Name : |
Mr. Mallik Jambunathan |
|
Designation : |
Director |
|
Address : |
E-3/14, Shirine Gardens, Parihar Chowk, Aundh, Pune – 411007,
Maharashtra, India |
|
Date of Birth/Age : |
01.09.1960 |
|
Qualification : |
CA, CS |
|
Date of Appointment : |
29.08.2011 |
|
DIN No.: |
00199389 |
|
|
|
|
Name : |
Mr. Venkatasubramanian Narayanaswami Ramanathan |
|
Designation : |
Director |
|
Address : |
603, Opal Powai Vihar, Powai, Mumbai – 400076, Maharashtra, India |
|
Date of Birth/Age : |
17.02.1961 |
|
Qualification : |
B.Sc, MBA |
|
Date of Appointment : |
29.08.2011 |
|
DIN No.: |
02740746 |
|
|
|
|
Name : |
Fabrice Jean Philippe Billard |
|
Designation : |
Director |
|
Address : |
Witikonerstrasse 380, 8053 |
|
Date of Birth/Age : |
11.03.1970 |
|
Qualification : |
Graduate in Engineering and Executive MBA |
|
Date of Appointment : |
31.08.2012 |
|
DIN No.: |
06360664 |
KEY EXECUTIVES
|
Name : |
Mr. Balaji Thiruvadanthi Bakthisaran |
|
Designation : |
Manager |
|
Address : |
D/30, Mantri Kishor Park, Bhosale Nagar, Pune – 411007, Maharashtra,
India |
|
Date of Birth/Age : |
22.05.1960 |
|
Date of Appointment : |
08.04.2008 |
|
PAN No.: |
ADGPB8164M |
|
|
|
|
Name : |
Mr. Shrikrishna Chitaman Korde |
|
Designation : |
Secretary |
|
Address : |
4-A1, Madhuwanti Society, Near Karve Statue, Kothrud, Pune – 411038,
Maharashtra, India |
|
Date of Birth/Age : |
15.05.1976 |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
ANQPK9577R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 25.09.2013
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 25.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
96.27 |
|
Bodies corporate |
|
0.19 |
|
Other top fifty shareholders |
|
1.04 |
|
Others |
|
2.50 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Engineering Products. |
||||
|
|
|
||||
|
Products : |
|
||||
|
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|
||||
|
Exports : |
|
||||
|
Products : |
·
Finished goods |
||||
|
Countries : |
·
Singapore ·
Bahrain |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
·
Raw Material |
||||
|
Countries : |
·
Switzerland |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
L/C and Credit |
||||
|
|
|
||||
|
Purchasing : |
L/C and Credit |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Actual
Production |
|
Separation Columns and Packing for Distillation, Absorption and
Desorption |
M3 |
1000 |
15214 |
|
Mixing Process Equipment |
No. |
300 |
28 |
NOTES
·
The above particulars are as certified by the
Management.
·
The Licensed Capacities are as per the Letter/
Acknowledgements received from the Ministry of Industry, Department of Industrial
Development, Secretariat for Industrial Approvals,
·
Installed Capacities cannot be quantified in view
of common manufacturing facilities for the Company's wide product mix. The
Company has made an application in 1989 to the Government of India, Department
of Company Affairs, Company Law Board,
* Note : Includes
Sales Value of Rs.101.895 millions (Quantity 2,185 M3) for Jobwork charges. Raw
material is imported from Sulzer Chemtech Limited,
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
500 (Approximately) |
|
|
|
|
Bankers : |
·
Banque Indosuez, Ramon House, 169, Backbay
Reclamation, Bombay – 400020, Maharashtra, India ·
Citibank, Pune, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
|
|
PAN No.: |
AADFP9359C |
|
|
|
|
Holding Company : |
Sulzer Limited, |
|
|
|
|
Subsidiary Company : |
Sulzer Chemtech Tower Field Services ( (formerly SAB Technical Services India Private Limited) w.e.f. July
31, 2009 |
|
|
|
|
Associate: |
·
Sulzer Chemtech Company Limited, ·
Sulzer Chemtech Pte. Limited, ·
Sulzer Shanghai Engineering and Machinery Works
Limited, China ·
·
Sulzer Pumps India Limited, ·
Sulzer Chemtech ·
Sulzer Management Limited, ·
Sulzer ·
Sulzer Chemtech Limited, ·
Sulzer Chemtech ·
Sulzer Turbo Services ·
Sulzer Metco ·
Sulzer Chemtech Canada Inc. |
CAPITAL STRUCTURE
As on: 25.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3450000 |
Equity Shares |
Rs.10/- each |
Rs. 34.500
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
34.500 |
34.500 |
34.500 |
|
(b) Reserves & Surplus |
893.747 |
761.224 |
851.844 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
928.247 |
795.724 |
886.344 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
30.997 |
32.448 |
28.206 |
|
Total Non-current
Liabilities (3) |
30.997 |
32.448 |
28.206 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
459.489 |
404.195 |
100.030 |
|
(b)
Trade payables |
263.050 |
530.836 |
213.502 |
|
(c)
Other current liabilities |
623.026 |
818.241 |
292.167 |
|
(d) Short-term
provisions |
97.208 |
53.624 |
62.399 |
|
Total Current
Liabilities (4) |
1442.773 |
1806.896 |
668.098 |
|
|
|
|
|
|
TOTAL |
2402.017 |
2635.068 |
1582.648 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
381.822 |
377.798 |
382.794 |
|
(ii)
Intangible Assets |
7.934 |
4.589 |
0.000 |
|
(iii) Capital
work-in-progress |
1.006 |
0.066 |
3.599 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
206.200 |
129.826 |
129.826 |
|
(c) Deferred tax
assets (net) |
43.482 |
38.997 |
36.994 |
|
(d) Long-term Loan and Advances |
37.517 |
32.303 |
20.686 |
|
(e) Other
Non-current assets |
1.252 |
6.246 |
18.297 |
|
Total Non-Current
Assets |
679.213 |
589.825 |
592.196 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
977.171 |
1348.921 |
423.140 |
|
(c)
Trade receivables |
245.785 |
214.676 |
266.878 |
|
(d) Cash
and cash equivalents |
253.513 |
96.551 |
78.666 |
|
(e) Short-term
loans and advances |
245.554 |
376.776 |
169.330 |
|
(f)
Other current assets |
0.781 |
8.319 |
52.438 |
|
Total
Current Assets |
1722.804 |
2045.243 |
990.452 |
|
|
|
|
|
|
TOTAL |
2402.017 |
2635.068 |
1582.648 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3070.952 |
1865.165 |
1695.965 |
|
|
|
Other Income |
8.729 |
57.661 |
66.453 |
|
|
|
TOTAL (A) |
3079.681 |
1922.826 |
1762.418 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1518.355 |
1464.993 |
960.019 |
|
|
|
Purchase of stock in trade |
0.000 |
0.000 |
13.015 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
235.885 |
(610.165) |
(117.909) |
|
|
|
Employee benefit expense |
265.414 |
247.748 |
211.334 |
|
|
|
Other expenses |
754.296 |
802.704 |
475.118 |
|
|
|
TOTAL (B) |
2773.950 |
1905.280 |
1541.577 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
305.731 |
17.546 |
220.841 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
30.613 |
10.502 |
3.048 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
275.118 |
7.044 |
217.793 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
73.880 |
80.567 |
102.964 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
201.238 |
(73.523) |
114.829 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
68.715 |
17.097 |
44.043 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
132.523 |
(90.620) |
70.786 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
455.366 |
545.986 |
475.200 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
587.889 |
455.366 |
545.986 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
38.41 |
(26.27) |
20.52 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.31 |
(4.71) |
4.01 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.55 |
(3.94) |
6.78 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.35 |
(2.98) |
8.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
(0.09) |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.50 |
0.51 |
0.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20 |
1.13 |
1.48 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: 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 |
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 |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
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 |
No |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Short term
borrowings |
|
|
|
Foreign currency term loans from banks |
269.489 |
264.195 |
|
Intercorporate borrowings |
190.000 |
140.000 |
|
|
|
|
|
Total |
459.489 |
404.195 |
CASE DETAILS
|
Lodging No.:- |
NMAL/530/2013 |
Filing Date:- |
07/03/2013 |
Reg. No.:- |
NMA/453/2013 |
Reg. Date:- |
07/03/2013 |
Main
Matter
|
Lodging No.:- |
ITXAL/413/2013 |
Reg. Date:- |
ITXA/762/2013 |
|
Petitioner:- |
Commissioner of Income Tax |
Respondent:- |
M/S Sulzer India Limited |
|
Petn.Adv.:- |
Arvind Pinto (0) |
Resp.Adv.:- |
0 (0) |
|
District:- |
MUMBAI |
|
|
|
Bench:- |
Division |
|
|
|
Status:- |
Pre-Admission |
Category: |
Notice of Motion (Tax) |
|
Next Date:- |
07/01/201 |
Stage:- |
|
|
Coram:- |
According To Sitting List |
|
|
|
Act :- |
Income Tax Act, 1961 |
Under
Section: |
260A |
OPERATIONS
The business environment remained challenging during the year. Inspite of this the Company registered growth of 65% in gross income over the previous year.
The local market conditions were not encouraging, hence registered a negative growth. However was helped by higher demand in overseas market.
The Company has initiated steps to debottleneck capacity constraints and also has taken up Lean management initiatives to improve the overall capacity utilization and operational efficiency while reducing Inventory levels.
FUTURE OUTLOOK
Demand in hydrocarbon industry stabilized internationally and some large projects are already in pipe line. The hydrocarbon processing industry is projected to recover further although at a slow pace. The Indian market remains challenging as decisions on several large projects are expected to be green lighted in second half of 2013 .The order book of the Company stands at Rs. 1472.000 (1590.800) millions as of March 31, 2013.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90088702 |
31/12/2003 |
1,300,000.00 |
HDFC BANK LIMITED |
NETRALI APARTMENTS, OFF. BHANDARKAR INSTITVIE; LAW COLLEGE BOARD, PUNE, MAHARASHTRA - 411004, INDIA |
- |
|
2 |
90090226 |
24/11/1995 |
15,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, JUSTICE G.N.VAIDYA MARG, BOMBAY, MAHARASHTRA - 400023, INDIA |
- |
|
3 |
90090167 |
25/07/1995 * |
37,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, JUSTICE G.N.ROAD VADYA MARG, BOMBAY, MAHARASHTRA - 400023, INDIA |
- |
|
4 |
90090000 |
04/08/1994 * |
25,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, JUSTICE G.N.VAIDYA MARG, BOMBAY, MAHARASHTRA - 400023, INDIA |
- |
|
5 |
90089898 |
04/11/1993 |
40,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, JUSTICE G.N.ROAD VADYA MARG, BOMBAY, MAHARASHTRA - 400023, INDIA |
- |
|
6 |
90089663 |
04/08/1994 * |
12,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, JUSTICE G.N.VAIDYA MARG, BOMBAY, MAHARASHTRA - 400023, INDIA |
- |
|
7 |
90089601 |
14/11/1990 |
7,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, JUSTICE J.N. VAIDYA MARG, BOMBAY, MAHARASHTRA - 400023, INDIA |
- |
|
8 |
90089570 |
06/08/1990 |
15,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, JUSTICE G.N. VAIDYA MARG, BOMBAY, MAHARASHTRA - 400023, INDIA |
- |
|
9 |
90083678 |
10/07/1990 |
4,000,000.00 |
BANK OF AMERICA |
EXPRESS TOWERS, NARIMAN POINT, BOMBAY, MAHARASHTRA - 400021, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
· Land
· Buildings (Freehold)
· Buildings (Leasehold)
· Plant and Machinery
· Data Processing Equipments
· Research and Development Equipments
· Furniture and Fittings
· Office and Other Equipment
·
Vehicles
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. 61.62 |
|
|
1 |
Rs. 100.83 |
|
Euro |
1 |
Rs. 84.98 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
YES |
|
--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 |
|
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.