MIRA
INFORM REPORT
|
Report Date : |
02.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
UHDE INDIA PRIVATE LIMITED (w.e.f. 01.05.2008) |
|
|
|
|
Formerly Known
As : |
UHDE INDIA LIMITED |
|
|
|
|
Registered Office
: |
Uhde House, LBS Marg, Vikhroli (West), Mumbai – 400083, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
30.09.2011 |
|
|
|
|
Date of
Incorporation : |
23.12.1977 |
|
|
|
|
Com. Reg. No.: |
11-020041 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.29.440
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74200MH1977PTC020041 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMU00244G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACU1416H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Designing and Construction of Chemicals and Fertilizer
Plants. |
|
|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 6300000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an old and well established company having fine track
record. The company has recorded a slight growth in its sales turnover and
profitability during the year 2011. Trade relations are reported as decent. Business is active. Payments
are reported to be regular and as per commitments. The company can be considered good 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
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
OVERDRAFT FACILITIES : CRISIL A+ |
|
Rating Explanation |
Having adequate degree of safety regarding timely servicing of
financial obligation it carry low credit risk. |
|
Date |
October, 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED BY
|
Name : |
Mr. Naiman Elavia |
|
Designation : |
General Manager (Finance) |
|
Contact No.: |
91-22-40478574 |
|
Date : |
31.12.2012 |
LOCATIONS
|
Registered/ Head Office : |
Uhde House, LBS Marg, Vikhroli (West), Mumbai – 400083, |
|
Tel. No.: |
91-22-25968000/ 25968551/ 267968581/ 67968000 |
|
Fax No.: |
91-22-25784327/ 25780210 |
|
E-Mail : |
uhdein@vsnl.com viswanathan.s@thyssenkrupp.com |
|
Website : |
http://www.uhdeindia.com |
|
Area : |
7 Staryed Building |
|
Location : |
Owned |
|
|
|
|
Factory : |
3rd Floor, |
|
Tel. No.: |
91-20-66081100 |
|
Fax No.: |
91-20-66081300 |
DIRECTORS
AS ON 16.03.2012
|
Name : |
Dr. Michael Johannes Thieman |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
Flat No. 409/410, Samudra Mahal Premises CHS Limited, Dr. A B Road, Worli , Mumbai – 400 018, Maharashtra, India |
|
Date of Birth/Age : |
25.08.1946 |
|
Date of Appointment : |
01.10.2009 |
|
DIN No. : |
00061988 |
|
Name : |
Mr. Benno Hans Lueke |
|
Designation : |
Managing Director |
|
Address : |
Karl Halle Strasse 94 |
|
Date of Birth/Age : |
13.02.1952 |
|
Date of Appointment : |
01.10.2009 |
|
DIN No. : |
02634507 |
|
Name : |
Dr. Iddya Dayasagar |
|
Designation : |
Whole Time Director |
|
Address : |
B 401, Daffodil, |
|
Date of Birth/Age : |
09.05.1949 |
|
Date of Appointment : |
01.071998 |
|
DIN No. : |
00020614 |
|
Name : |
Mr. Suresh Narsappa Talwar |
|
Designation : |
Alternate Director |
|
Address : |
10 Shiv Shanti Bhuvan 146 MK Road, Churchgate Reclamation ,
Mumbai – 400 020, |
|
Date of Birth/Age : |
21.11.1937 |
|
Date of Appointment : |
05.12.2004 |
|
DIN No. : |
00001456 |
|
Name : |
Mr. Rajendra Ambalal Shah |
|
Designation : |
Alternate Director |
|
Address : |
Panorama 2nd Floor, |
|
Date of Birth/Age : |
07.07.1931 |
|
Date of Appointment : |
25.06.2004 |
|
DIN No. : |
00009851 |
|
Name : |
Mr. Vijayan Thekke Konnanath |
|
Designation : |
Whole Time Director |
|
Address : |
B 406, |
|
Date of Birth/Age : |
10.06.1950 |
|
Date of Appointment : |
01.07.1998 |
|
DIN No. : |
00020591 |
|
Name : |
Mr. Raghavan Sethuraman |
|
Designation : |
Whole Time Director |
|
Address : |
10/25, Saraswat Colony, Santacruz (West), Mumbai – 400
054, |
|
Date of Birth/Age : |
19.03.1950 |
|
Date of Appointment : |
01.07.2003 |
|
DIN No. : |
00020632 |
|
Name : |
Mr. Jayant Ranchhoddas Shah |
|
Designation : |
Director |
|
Address : |
20 CCI Chambers, |
|
Date of Birth/Age : |
16.02.1925 |
|
Date of Appointment : |
23.12.1977 |
|
DIN No. : |
00020723 |
|
Name : |
Mr. Bansidhar S Mehta |
|
Designation : |
Alternate Director |
|
Address: |
5th Floor, |
|
Date of Birth/ Age: |
19.09.1935 |
|
Date of Appointment: |
20.06.2009 |
|
DIN No. : |
00035019 |
|
Name : |
Mr. Kunjjukuttan Trivikraman Thampi |
|
Designation : |
Director |
|
Address : |
F20, 501, Green Crest Yamuna Nagar, Andheri (W), Mumbai –
400053, |
|
Date of Birth/Age : |
15.08.1927 |
|
Date of Appointment : |
01.01.1978 |
|
DIN No. : |
00043445 |
|
Name : |
Mr. Prakash Dinkar Sumudra |
|
Designation : |
Whole Time Director |
|
Address : |
|
|
Date of Birth/Age : |
05.07.1951 |
|
Date of Appointment : |
01.07.1998 |
|
DIN No. : |
00062355 |
|
Name : |
Mr. Dara Nadirshaw Damania |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
02.12.1936 |
|
Date of Appointment : |
07.06.1996 |
|
DIN No. : |
00403834 |
|
Name : |
Mr. Jorg Schonewolf |
|
Designation : |
Director |
|
Address : |
Lautenhausen Dorf Strasse 21, Friedewald, Germany-57520 |
|
Date of Birth/Age : |
18.01.1962 |
|
Date of Appointment : |
01.05.2004 |
|
DIN No. : |
00440853 |
|
Name : |
Mr. Siddharth S Rudra |
|
Designation : |
Whole time Director |
|
Address: |
Flat 101/102, Emerald Nirmal Lifesestyle, |
|
Date of Birth/ Age: |
11.05.1949 |
|
Date of Appointment: |
01.10.2006 |
|
Date of cessation : |
01.10.2012 |
|
DIN No. : |
00771904 |
|
Name : |
Helmut Otto Knauthe |
|
Designation : |
Director |
|
Address: |
65843, Sulzbach (Taunus) Im Haindell 51 Germany 51 |
|
Date of Birth/ Age: |
18.07.1958 |
|
Date of Appointment: |
16.09.2011 |
|
DIN No. : |
03554573 |
KEY EXECUTIVES
|
Name : |
Mr. Gurpur Radhakrishna Prabhu |
|
Designation : |
Company Secretary |
|
Address : |
401/6 Ajangiri, Siddachal Apartment, Phase II, 2nd
|
|
Date of Birth/Age : |
03.08.1960 |
|
Date of Appointment : |
08.03.2002 |
|
Pan No. : |
AADPP0040N |
|
|
|
|
Name : |
Mr. Naiman Elavia |
|
Designation : |
General Manager (Finance) |
|
|
|
|
Name : |
Mr. Atul Bhalerao |
|
Designation : |
Group Head (Business Development) |
|
|
|
|
Name : |
Mr. S. Viswanathan |
|
Designation : |
Head (Procurement and Estimation) |
|
|
|
|
Name : |
Ms. Sonal Singh |
|
Designation : |
Head (Personnel and Human Resources) |
|
|
|
|
Name : |
Mr. Leroy Santos |
|
Designation : |
Senior Manager (Public Relations) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 16.03.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Uhde GMBH, Germany |
|
2368000 |
|
Kingfisher F Invest Industries Limited, |
|
256000 |
|
Anila Shah |
|
62500 |
|
Jayant Shah |
|
76800 |
|
Urmila Jayant Shah |
|
76800 |
|
Ranjit Jayant Shah |
|
76800 |
|
Mona Shah |
|
25600 |
|
Shefali Rajendra Shah |
|
1500 |
|
Total |
|
2944000 |
AS ON 16.03.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings( Foreign institutional
investor(s), Foreign Companies (s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
|
80.43 |
|
Bodies corporate |
|
8.69 |
|
Directors or relatives of Directors |
|
10.88 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Designing and Construction of Chemicals and Fertilizer
Plants. |
|
|
|
|
Products : |
· Nitric Acid · Ammonia · Ammonium Nitrate · Ammonium Nitrophosphate and CAN · Urea · DAP/NPK · Phosphoric Acid · VCM · Styrene Monomer · PVC · Polystyrene · HDPE · Polypropylene · Polyols · Ethylene Oxide · Ethylene Glycol · Ethyl Benzene · Propylene Oxide · VAM · LAB · Adipic Acid · Formaldehyde · Caustic Soda · Chlorine · Caustic Potash · Membrane Cells Electrolysis Plants · Chlorine Director-Oxide · Spray Dried Silica · Bleaching Powder · Hydrogen Peroxide · Poly Aluminium Chloride · Zinc Smelting |
GENERAL INFORMATION
|
No. of Employees : |
1000 (Approximately) |
|
|
|
|
Bankers : |
·
Deutsche Bank, Nariman Point, Mumbai, ·
Union Bank of ·
State Bank of · Punjab National Bank |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
Plot No.Y-14, Block EP Sector V, Salt Lake Electronic Complex, Bidhan Nagar, Kolkata, West Bengal, India |
|
Pan No. : |
AAHFP0187A |
|
|
|
|
Holding Company : |
UHDE GMBH, |
|
|
|
|
Ultimate Holding Company: |
Thyssenkrupp A.G., |
|
|
|
|
Fellow Subsidiaries : |
· Thyssenkrupp USA Inc. · Thyssenkrupp Engineering Pty Limited · Thyssenkrupp Materials International GmbH ·
Thyssenkrupp Elevators ( · Thyssenkrupp ECE Elevators Private Limited · Uhde Engineering Consulting (Shanghai) company · Uhde Arabia Limited · Uhde Mexico S.A. de C.V. · Shedden Uhde Pty Limited · Thyssenkrupp PDNA Engineering (Pty) ·
Uhde Inventa Fischer GmbH. ·
Thyssenkrupp Engine Components ( CIN No.: U29268MH2010PTC205326 ·
Berco Undercarraiges (India) Private Limited CIN No.: U74900AP2008PTC060646 · Rothe Erde India Private Limited CIN No.: U27109MH2006PTC161325 · Thyssenkrupp Industries India Private Limited CIN No.: U74999MH1947PTC005508 · Thyssenkrupp Electricals Steel India Private Limited CIN No.: U27100MH2000PTC127807 |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2944000 |
Equity Shares |
Rs.10/- each
|
Rs.29.440
millions |
|
|
|
|
|
NOTES:
1. 2944000 fully paid equity Shares of Rs.10/-
each include:
- 110890 Shares allotted for consideration other than cash
- 2806000 shares allotted bonus shares by capitalization of general
reserve.
2. of the above, 2368000 equity shares are
held by Uhde Gmbh Germany, the holding Company.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.09.2011 |
30.09.2010 |
30.09.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
29.440 |
29.440 |
29.440 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1548.284 |
1190.842 |
839.462 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1577.724 |
1220.282 |
868.902 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1577.724 |
1220.282 |
868.902 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
778.922 |
792.583 |
285.490 |
|
|
Capital work-in-progress |
19.776 |
9.120 |
478.726 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
143.037 |
83.531 |
127.365 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2.929
|
7.272
|
11.128
|
|
|
Sundry Debtors |
2119.520
|
931.843
|
604.217
|
|
|
Cash & Bank Balances |
1747.211
|
2874.346
|
1974.665
|
|
|
Other Current Assets |
207.521
|
150.993
|
54.053
|
|
|
Loans & Advances |
4364.728
|
1886.221
|
1583.029
|
|
Total
Current Assets |
8441.909
|
5850.675
|
4227.092
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
1497.700
|
865.885
|
903.930
|
|
|
Other Current Liabilities |
4563.528
|
3461.332
|
2333.727
|
|
|
Provisions |
1744.692
|
1188.410
|
1012.114
|
|
Total
Current Liabilities |
7805.920
|
5515.627
|
4249.771
|
|
|
Net Current Assets |
635.989
|
335.048
|
(22.679)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1577.724 |
1220.282 |
868.902 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.09.2011 |
30.09.2010 |
30.09.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
|
|
|
|
|
|
Other Income |
NA |
|
|
|
|
|
TOTAL |
NA |
5093.334 |
3261.744 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
4300.312 |
2902.092 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
791.740 |
793.022 |
359.652 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
263.220 |
269.994 |
136.603 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
528.520 |
523.028 |
223.049 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
167.400 |
66.020 |
66.300 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
250.000 |
250.000 |
120.000 |
|
|
|
Interim Dividend |
0.000 |
58.880 |
0.000 |
|
|
|
Dividend |
147.200 |
88.320 |
88.320 |
|
|
|
Tax on Dividend |
23.880 |
24.450 |
15.010 |
|
|
BALANCE CARRIED
TO THE B/S |
274.840 |
167.398 |
66.020 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
792.064 |
944.024 |
|
|
TOTAL EARNINGS |
NA |
792.064 |
944.024 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
1337.275 |
377.025 |
|
|
|
Capital Goods |
NA |
59.827 |
20.131 |
|
|
TOTAL IMPORTS |
NA |
1397.102 |
397.156 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
179.52 |
177.66 |
75.76 |
|
KEY RATIOS
|
PARTICULARS |
|
30.09.2011 |
30.09.2010 |
30.09.2009 |
|
PAT / Total Income |
(%) |
NA
|
10.27
|
6.84
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.59
|
11.94
|
7.93
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.50
|
0.65
|
0.41
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.95
|
4.52
|
4.89
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.08
|
1.06
|
0.99
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITOR
DETAILS
(Rs.
In Millions)
|
Particulars
|
30.09.2011 |
30.09.2010 |
30.09.2009 |
|
Sundry
Creditors |
|
|
|
|
-
Due others |
1497.700 |
865.885 |
808.822 |
|
|
|
|
|
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
PERFORMANCE DURING
THE YEAR:
During the year the company received an order intake amounting to Rs.5859.710 Million. The Company achieved a turnover of Rs.5383.560 million, which has been the highest ever registered by the company. The profit after tax for the year stood at Rs.528.520 million, which is also the highest ever achieved by the Company. Considering the difficult economic environment that was prevalent throughout the year the overall performance of the Company during the year is quite satisfactory and we acknowledge the hard-work and the whole hearted co-operation that we received from the employees without which this would not have been possible.
The major contracts received during the year include DAP/NPK Plant for Coromandel International, 2X 5000 MT Ammonia Storage Tanks for Essar Projects, Sodium Chlorate Plant for GACL, three Caustic Soda Plants for companies of the Aditya Birla Group and Engineering Services for Coal Tar Filtration Plant in South Africa.
Some of the notable contracts which contributed to the Turnover during the year were the EPCM services for various units of Cuddalore Refinery of Nagarjuna Oil Corporation Limited, Engineering, Supply and Construction of Hydrogen Plant of Praxair, EPCM services for DHDT/VGO-HDT/HCDS Units of IOCL’s Paradip Refinery, PMC services for CCR/NHT units of BPCL Refinery and EPCM services for LAB expansion project of Farabi Petrochemicals in Saudi Arabia.
PROSPECTS:
High rate of Inflation and increase in interest rates on bank borrowings coupled with delay in decision making process in the Government Machinery has a negative impact on the Industrial Growth in the country. In September 2011 the country witnessed the lowest industrial growth in the last 2 years. Capital investment in new projects in the Chemical and Petrochemical sector are either shelved or considerably delayed. Lack of availability of sufficient Gas, which is the main feed stock for the fertilizer industry, has resulted into delay in implementation of major fertiliser projects in the Country. In order to overcome these adverse circumstances on which the Company has no control, the company has started concentrating in the export market. The organizational changes in the parent company on a Global scale will also enable the company to expand its market to the MENA region as your company has been nominated as the leader of the Market Cluster consisting of Middle East and North Africa by the parent Company. Favourable order back log situation will certainly help the company to do well in the adverse market conditions and barring unforeseen circumstances the company expects to increase its turnover and profit in the ensuing business year.
FIXED ASSETS:
Tangible:
- Residential
Flats
- Air
Conditioner
- Furniture
- Office
Equipments
- Computers
- Vehicles
Intangible:
- Computer
Software
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.54.83 |
|
|
1 |
Rs.89.23 |
|
Euro |
1 |
Rs.72.48 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--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 |
|
TOTAL |
|
63 |
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.