MIRA
INFORM REPORT
|
Report Date : |
23.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
TOPWORTH STEELS AND POWER PRIVATE LIMITED (w.e.f.07.04.2008) |
|
|
|
|
Formerly Known
As : |
TOPWORTH STEELS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Raheja Centre, Office No. 4214, Free Press Journal Marg, Nariman
Point, Mumbai – 400021, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
18.05.2004 |
|
|
|
|
Com. Reg. No.: |
11-146381 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 807.469 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51420MH2004PTC146381 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT11594C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCT0878L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Sponge Iron, Steel and Power Generation |
|
|
|
|
No. of Employees
: |
90 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 19800000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The ratings constrained by the company’s sustained elongated operating
cycle leading to a high working capital utilization and, high leverage ratios.
Further it also seems lower utilization of the high-value structural
capacity, consequent decline in the profitability margins. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some caution. Note: Latest financial for the year 2013 is not available with us. |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
Uptick in
agriculture and construction spread some cheer as the economy grew a higher-than-expected
4.8 % in the three months through September. Manufacturing rose an annual rate
per cent during the quarter and mining fell by 0.4 %, government data showed
while farm output rose 46%.
India has emerged as
the most attractive investment destination, thanks to a relaxation in foreign
direct investment norms, says a report. India is followed by Brazil and China
in the ranking part of EY’s Capital Confidence Barometer report based on a
survey across 70 nations. The US, France and Japan have emerged as the top
three investors likely to invest in India.
India has been
ranked 83rd globally in terms of talent competitiveness of its human
capital. Switzerland, Singapore, Denmark, Sweden and Luxembourg are the
top five in the list of 103 nations compiled by INSEAD business school.
Tax rates for
companies in India are among the highest in the world and the number of
payments is also more than the global average putting the country at low, 158th
rank on the Paying Taxes. 2014 list by the World Bank and PWC. However, the
time taken for tax payments is relatively less in India which is rated ahead of
China and Japan.
1 billion smartphone
shipments in 2013, a 39.3 % growth over 2012. This was being driven by low cost
computing in emerging markets. By 2017, total smartphone shipments are expected
to approach 1.7 billion units, resulting in a compound annual growth rate of
18.4 % between 2013 and 2017, according to research from IDC.
20 % vacancy rate of
office space in Mumbai and Delhi in the third quarter, the highest in Asia
after Chengdu, in China. According to Cushman and Wakefield, six Indian cities
are among the 10 office markets with the worst vacancies.
Foreign banks will
not have to pay stamp duty and capital gains tax, if they convert their branch
operations into a wholly owned subsidiary, according to the Reserve Bank of
India.
The Reserve Bank of
India is planning to launch CPI – indexed bonds aimed to protecting the savings
of retail investors from the impact the price rise by December end.
Central Bureau of
Investigation has booked State Bank of India, Deputy Managing Director Shyamal
Acharya and others in a graft case related to distribution of a loan of over Rs
4000 mn. Gold and jewellery worth Rs 6.7 mn have been recovered from the
residence of Acharya.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: “BB+” |
|
Rating Explanation |
Moderate risk of default and high credit
risk. |
|
Date |
08.01.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A4+” |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
08.01.2013 |
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
|
Name : |
Mrs. Mugdha |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-22841414 |
|
Date : |
21.12.2013 |
LOCATIONS
|
Registered Office : |
Raheja Centre, Office No. 4214, Free Press Journal Marg, Nariman Point,
Mumbai – 400021, Maharashtra, India |
|
Tel. No.: |
91-22-22841414 |
|
Fax No.: |
91-22-22840211/22880141 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
308, 3rd Floor, Ceejay House, Dr. Annie Besant Road, Worli, Mumbai –
400018, Maharashtra, India |
|
Tel. No.: |
91-22-24812000 |
|
Fax No.: |
91-22-24812122 |
|
|
|
|
Works / Marketing Department : |
Borai Industrial Growth Centre, Village Rasmada, District Durg -
491001, Chattisgarh, India |
|
Tel. No.: |
91-788-2617357/2617362/2617363/2617364/2617210 |
|
Fax No.: |
91-788-2617358 |
|
E-Mail : |
|
|
|
|
|
Domestic Office : |
Located At ·
Khopoli ·
Mumbai |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Abhay Narendra Lodha |
|
Designation : |
Chairman |
|
Address : |
602, Vaitarna, Sir Pochkhanwala Road, Worli Seaface, Worli, Mumbai – 400030, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1971 |
|
Date of Appointment : |
01.04.2009 |
|
PAN No.: |
AAKPL7249L |
|
DIN No.: |
00052194 |
|
|
|
|
Name : |
Mr. Ashwin Narendra Lodha |
|
Designation : |
Additional Director |
|
Address : |
603, Vaitarna, Sir Pochkhanwala Road, Worli Seaface, Worli, Mumbai – 400030, Maharashtra, India |
|
Date of Appointment : |
10.05.2010 |
|
DIN No.: |
00066948 |
|
|
|
|
Name : |
Mr. Nitin Golchha |
|
Designation : |
Director |
|
Address : |
SM 59, Ward – 43, Padmanbhpur, Durg – 491001, Chhattisgarh, India |
|
Date of Birth/Age : |
13.09.1978 |
|
Date of Appointment : |
02.01.2006 |
|
PAN No.: |
AGFPG5147D |
|
DIN No.: |
01669634 |
|
|
|
|
Name : |
Mr. Surendra Champalal Lodha |
|
Designation : |
Director |
|
Address : |
Narayandevi Shopping Complex, Pushpalata Bendale Chowk, Jalgaon - 425001, Maharashtra, India |
|
Date of Appointment : |
10.05.2010 |
|
DIN No.: |
00044782 |
KEY EXECUTIVES
|
Name : |
Mrs. Mugdha |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Abhay Narendra Lodha |
|
1 |
|
Crest Steel and Power Private Limited, India |
|
90458462 |
|
|
|
|
|
Total |
|
90458463 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Sponge Iron, Steel and Power Generation |
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Products : |
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Terms : |
|
||||||||||
|
Selling : |
Cash and Credit |
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|
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|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Sponge Iron |
MT |
165,000 |
143250.430 |
|
MS Billets |
MT |
144,000 |
131165.700 |
|
MS Structure |
MT |
144,000 |
82995.532 |
|
Power |
Units |
144000000 |
159522655 |
GENERAL INFORMATION
|
Customers : |
Wholesalers |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
90 (Approximately) |
|||||||||||||||
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|
|
|||||||||||||||
|
Bankers : |
State Bank of India, Backbay Reclamation Branch, Raheja Chambers, Free Press Journal Marg, Nariman Point, Mumbai - 400021, Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jain and Chhoriya Chartered Accountants |
|
Address : |
59, Gaya Building, 4th Floor, Yusuf Mehar Ali Road, Masjid Bunder, Mumbai - 400003, Maharashtra, India |
|
Tel. No.: |
91-9320278797 |
|
E-Mail : |
|
|
PAN No.: |
AADFJ9495M |
|
|
|
|
Holding Company : |
Crest Steel and Power Private Limited |
|
|
|
|
Associate : |
· Akshata Mercantile Private Limited · Topworth Urja and Metals Limited · Satyarth Steel and Power Private Limited · Topworth Pipes and Tubes Private Limited · Champalal Motilal Steel Company Private Limited |
|
|
|
|
Subsidiaries : |
· Topworth Energy Private Limited · Topworth Energy Mozambique Limitada · Topworth Metals (South Africa) Proprietary Limited Johansberg ·
Topworth Steels and Power Singapore PTE
Limited, Singapore ·
Topworth International Steels DMCC, Dubai |
|
|
|
|
Sister Concern : |
Name: Topworth Energy Private Limited Jain and Chhoriya |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
82000000 |
Equity Shares |
Rs.10/- each |
Rs.820.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80746923 |
Equity Shares |
Rs.10/- each |
Rs.807.469
Millions |
|
|
|
|
|
After 25.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
82000000 |
Equity Shares |
Rs.10/- each |
Rs.820.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90458463 |
Equity Share5 |
Rs.10/- each |
Rs.904.585
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 |
|
807.469 |
469.088 |
|
(b) Reserves & Surplus |
|
4064.637 |
1929.863 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
89.000 |
999.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
4961.106 |
3397.951 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
2763.879 |
2870.453 |
|
(b) Deferred tax liabilities (Net) |
|
431.824 |
327.512 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
3195.703 |
3197.965 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
2043.818 |
1908.347 |
|
(b) Trade payables |
|
4642.897 |
5105.831 |
|
(c) Other current
liabilities |
|
203.248 |
173.520 |
|
(d) Short-term provisions |
|
290.141 |
202.204 |
|
Total Current Liabilities (4) |
|
7180.104 |
7389.902 |
|
|
|
|
|
|
TOTAL |
|
15336.913 |
13985.818 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
4158.690 |
2940.115 |
|
(ii) Intangible Assets |
|
3.226 |
0.000 |
|
(iii) Capital
work-in-progress |
|
104.057 |
382.385 |
|
(iv) Intangible
assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1587.826 |
1434.958 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
17.034 |
0.000 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
5870.833 |
4757.458 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
636.405 |
447.911 |
|
(b) Inventories |
|
3169.623 |
4123.631 |
|
(c) Trade receivables |
|
3809.167 |
3216.004 |
|
(d) Cash and cash
equivalents |
|
27.782 |
24.271 |
|
(e) Short-term loans
and advances |
|
1423.166 |
1144.565 |
|
(f) Other current
assets |
|
399.937 |
271.978 |
|
Total Current Assets |
|
9466.080 |
9228.360 |
|
|
|
|
|
|
TOTAL |
|
15336.913 |
13985.818 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
428.350 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1211.632 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1639.982 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1647.026 |
|
|
2] Unsecured Loans |
|
|
1669.705 |
|
|
TOTAL BORROWING |
|
|
3316.731 |
|
|
DEFERRED TAX LIABILITIES |
|
|
281.673 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5238.386 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2930.107 |
|
|
Capital work-in-progress |
|
|
159.087 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
184.101 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
2114.250 |
|
|
Sundry Debtors |
|
|
2720.128 |
|
|
Cash & Bank Balances |
|
|
15.721 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
1521.117 |
|
Total
Current Assets |
|
|
6371.216 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
4181.551 |
|
|
Other Current Liabilities |
|
|
91.447 |
|
|
Provisions |
|
|
134.753 |
|
Total
Current Liabilities |
|
|
4407.751 |
|
|
Net Current Assets |
|
|
1963.465 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
1.626 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5238.386 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Net Income from Operations |
6621.204 |
5035.148 |
9626.093 (Including
Excise Duty) |
|
|
|
Income from Trading Sales |
11431.178 |
7837.200 |
0.000 |
|
|
|
Other Income |
83.442 |
63.985 |
35.309 |
|
|
|
TOTAL (A) |
18135.824 |
12936.333 |
9661.402 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
2047.110 |
|
|
|
Stores & Spares Consumed |
|
|
72.406 |
|
|
|
Purchase of Finished Goods - Trading |
|
|
5742.884 |
|
|
|
Manufacturing Expenses |
16907.766 |
11652.052 |
528.716 |
|
|
|
Excise Duty & Taxes |
|
|
322.884 |
|
|
|
Employees Cost & Benefits |
|
|
95.536 |
|
|
|
Selling & Administrative Expenses |
|
|
70.958 |
|
|
|
Preliminary Expenses Written off |
|
|
0.292 |
|
|
|
Increase / (Decrease) in Stock |
|
|
(58.321) |
|
|
|
TOTAL (B) |
16907.766 |
11652.052 |
8822.465 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1228.058 |
1284.281 |
838.937 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
580.145 |
650.476 |
378.768 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
647.913 |
633.805 |
460.169 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
175.378 |
161.025 |
138.688 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
472.535 |
472.780 |
321.481 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
198.855 |
(21.390) |
187.845 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
273.680 |
494.170 |
133.636 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.39 |
9.32 |
3.45 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.51
|
3.82 |
1.38 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.62
|
3.67 |
3.34 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.46
|
3.89 |
3.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.14 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.97
|
1.41 |
2.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32
|
1.25 |
1.45 |
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) |
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 |
REVIEW OF OPERATIONS
During the year, the Company’s Net Income from operations stood at Rs. 6621.204 Millions as compared to Rs. 5035.148 Millions in the previous year, Profit before finance cost and taxation for the year stood at Rs. 17960.446 Millions against Rs. 12775.308 Millions in the previous year and Profit after Tax declined from Rs. 472.780 Millions in previous year to Rs. 472.535 Millions in the year.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long-term
borrowings |
|
|
|
Loans repayable on demand from others |
1258.896 |
1774.608 |
|
Other loans and advances |
316.572 |
833.760 |
|
Short-term borrowings |
|
|
|
Rupee term loans from banks |
1503.518 |
1039.183 |
|
Rupee term loans from others |
365.164 |
730.328 |
|
Loans and advances from others |
175.136 |
138.836 |
|
Total |
3619.286 |
4516.715 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10455102 |
13/09/2013 |
1,000,000,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE BRANCH, 37,MUMBAI SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
B87562302 |
|
2 |
10430209 |
21/05/2013 |
250,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH, ATLANTA FIRST FLOOR, JAMNALAL |
B76764182 |
|
3 |
10397675 |
14/01/2013 |
410,000,000.00 |
THE COSMOS CO-OP. BANK LIMITED |
36A, MARU NIKETAN, D. L. VAIDYA ROAD, DADAR (W), MUMBAI, MAHARASHTRA - 400028, INDIA |
B66128018 |
|
4 |
10392369 |
05/12/2012 |
86,000,000.00 |
INDIAN BANK |
MUMBAI FORT BRANCH, UNITED INDIA BUILDING, SIR P. M. ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B64289853 |
|
5 |
10387352 |
17/10/2012 |
650,000,000.00 |
CENTRAL BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, CHANDER MUKHI, NARIMAN |
B62292248 |
|
6 |
10372142 |
30/06/2012 |
200,000,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPOARTE BRANCH, MAKER TOWER,"E" WING, GROUND
FLOOR, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400 |
B56246416 |
|
7 |
10362019 |
09/06/2012 |
424,000,000.00 |
CORPORATION BANK |
FORT MID CORPORATE BRANCH VEENA CHAMBERS, 21, DALAI STREET, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
B42189332 |
|
8 |
10353734 |
13/04/2012 |
550,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B38937470 |
|
9 |
10353721 |
13/04/2012 |
750,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B38933396 |
|
10 |
10353444 |
19/03/2012 |
360,000,000.00 |
DENA BANK |
CORPORATE BUSINESS BRANCH, C-10, G-BLOCK, BANDRA |
B38855169 |
|
11 |
10336367 |
26/03/2013 * |
800,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH, ATLANTA FIRST FLOOR, JAMNALAL |
B73375347 |
|
12 |
10334537 |
01/02/2012 |
189,000,000.00 |
INDIAN BANK |
MUMBAI FORT BRANCH, UNITED INDIA BUILDING, SIR P.M.ROAD FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B31664196 |
|
13 |
10357079 |
14/12/2011 |
46,000,000.00 |
CORPORATION BANK |
FORT MID CORPORATE BRANCH VEENA CHAMBERS, 21, DALAI STREET, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
B32752263 |
|
14 |
10305032 |
09/08/2011 |
410,000,000.00 |
DENA BANK |
CORPORATE BUSINESS BRANCH, C-10, G-BLOCK, BANDRA |
B19963628 |
|
15 |
10285601 |
01/05/2011 |
81,204,300.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B12308185 |
|
16 |
10285599 |
01/05/2011 |
99,172,161.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B12307294 |
|
17 |
10285600 |
01/05/2011 |
119,711,232.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B12307781 |
|
18 |
10257628 |
05/12/2010 |
125,000,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B00402263 |
|
19 |
10257678 |
17/09/2013 * |
1,750,000,000.00 |
ORIENTAL BANK OF COMMERCE |
OVERSEAS BRANCH, DALAMAL TOWERS, GR. FLOOR, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B85986255 |
|
20 |
10246441 |
15/09/2010 |
15,166,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
A96948831 |
* Date of charge modification
FIXED ASSETS:
·
Land and Building
·
Plant and Machinery
·
MS Roll
·
EOT Crane
·
Electric Trolley
·
DG Set
·
Electrical Installation
·
Pollution Control
Equipments
·
Welding Machine
·
Weigh Bridge
·
Air Conditioner
·
Office Equipments
·
Fire Fighting Equipments
·
Lab Equipments
·
Computer
·
Furniture and Fixtures
·
Tools and Tackles
·
Hand Cart
·
Cycle
·
Motor Cars
·
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. 62.24 |
|
|
1 |
Rs. 101.81 |
|
Euro |
1 |
Rs. 84.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.