|
Report Date : |
04.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
ECL FINANCE LIMITED |
|
|
|
|
Registered
Office : |
Edelweiss House, Off. C.S.T Road, Kalina, Mumbai-400098, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
18.07.2055 |
|
|
|
|
Com. Reg. No.: |
11-154854 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1891.848 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65990MH2005PLC154854 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUME06297E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCE4916D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited
Liability Company |
|
|
|
|
Line of Business
: |
Providing Non-Banking Financial Services including Financing, Money
Lending, Bill Discounting, Factoring and Corporate Lending with or without
securities. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
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 51900000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of ‘Edelweiss Group’. It is a well-established
company having a fine track record. The group has strong capitalization and comfortable liquidity and
diversified business risk profile within the capital market segment. There appears some dip in the revenue earned from operation and
profits durig 2012. However, trade relations are reported as trustworthy. Business is
active. Payment terms are reported as regular and as per commitment. 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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
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 |
AA- (Long term rating) |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
12.12.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1 (Short term debt) |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
12.12.2012 |
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.
LOCATIONS
|
Registered Office : |
Edelweiss House, Off. C.S.T Road, Kalina, Mumbai-400098, Maharashtra,
India |
|
Tel. No.: |
91-22-40094400 |
|
Fax No.: |
91-22-40194890 |
|
E-Mail : |
DIRECTORS
As on 28.09.2012
|
Name : |
Pudugramam Narayanaswamy Venkatachalam |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Flat No. 3C, Settlur Manor No. 2, Sivaswamy Street, Opp. Dr.
Radhakrishnan Salai, Mylapore, Chennai-600004, Tamilnadu, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
22.03.1944 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
11.07.2008 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00499442 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Rujan Harchand Panjwani |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
26 HemPrabha Bldg, 7th Floor, Marine Drive, Mumbai-400020,
Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
07.04.1963 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
11.07.2008 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00237366 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Raviprakash Ramautar Bubna |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
1203, C Wing, Lakshchandi Height, Krishna Vatika Marg, Gokuldham,
Goregaon (East), Mumbai-400063, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
21.04.1967 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.12.2009 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00090160 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Ms. Preeti Chhabria |
|
Designation : |
Secretary |
|
Address : |
9/10 Happy Dreams Premises, Plot No. 453, Road No. 33, Bandra (West),
Mumbai-400050, Maharashtra, India |
|
Date of Appointment : |
22.11.2007 |
|
PAN No.: |
AFEPC4850R |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Rashesh Shah Jointly with Edelweiss Financial Services Limited |
|
20 |
|
Venkat Ramaswamy Jointly with Edelweiss Financial Services Limited |
|
20 |
|
Deepak Mittal Jointly with Edelweiss
Financial Services Limited |
|
20 |
|
Prasad Baji Jointly with
Edelweiss Financial Services Limited |
|
20 |
|
Edelweiss Financial Services Limited, India |
|
1499959009 |
|
Waverly Pte. Limited, Singapore |
|
147496000 |
|
Naresh Kothari Jointly with
Edelweiss Financial Services Limited |
|
20 |
|
Edelweiss Securities Limited, India |
|
97416683 |
|
Edelweiss Commodities Services Limited, India |
|
146976650 |
|
VIKAS KHEMANI Jointly with Edelweiss
Financial Services Limited |
|
20 |
|
Total |
|
1891848462 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
7.80 |
|
Bodies corporate |
92.20 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Non-Banking Financial Services including Financing, Money
Lending, Bill Discounting, Factoring and Corporate Lending with or without
securities. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Small Industries Development Bank of India, MSME
Development Centre, C-11, G-Block., Bandra-Kurla Complex, Bandra (East),
Mumbai - 400051, Maharashtra, India ·
The Karur Vysya Bank Limited, Central Loan
Processing Cell, First Floor, No. 37, Whites Road, Chennai - 600014, Tamil
Nadu, India ·
Lakshmi Vilas Bank Limited, Bharat House, 104,
B.S. Marg, Fort,, Mumbai - 400001, Maharashtra, India ·
Bank of India, Mumbai Large Corporate Branch,
Oriental Bldg, Ground Floor, 364, D.N. Road, Fort, Mumbai - 400001, Maharashtra,
India ·
Yes Bank Limited, 9th Floor, Nehru
Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018,
Maharashtra, India ·
The Federal Bank Limited, Ground Floor, Express
Towers, Nariman Point, Mumbai - 400021, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
IDBI Trusteeship Services Limited, Asian Bldg., Ground Floor, 17,
R.Kamani Marg, Ballard Estate, Mumbai - 400001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Associates Chartered Accountants |
|
Address : |
Lodha Excelus, 1st Floor, Apollo Mills Compound, N. M.
Joshi Marg, Mahalakshmi, Mumbai-400011, Maharashtra, India |
|
Tel. No.: |
91-22-39896000 |
|
Fax No.: |
91-22-39836000 |
|
PAN No.: |
AADFB6889R |
|
|
|
|
Holding company : |
Edelweiss Financial Service Limited (formerly known as Edelweiss Capital Limited) |
|
|
|
|
Fellow
subsidiaries : |
·
Edelweiss Finance and Investments Limited ·
Edelweiss Trading and Holdings Limited ·
Edelcap Securities Limited ·
Edelweiss Financial Advisors Limited ·
Edelweiss Securities Limited ·
ECap Equities Limited ·
EC Commodities Limited ·
Edelweiss Broking Limited ·
Edelweiss Investments Advisors Limited ·
Edel Finance Company Limited ·
Comfort Projects Limited ·
Edelweiss Tokio Life Insurance Company Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6700000000 |
Equity Shares |
Re.1/- each |
Rs. 6700.000 Millions |
|
4000000 |
Preference Shares |
Rs.10/- each |
Rs. 40.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 6740.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1891848462 |
Equity Shares |
Re.1/- each |
Rs. 1891.848 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1891.848 |
1891.848 |
1891.848 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
11090.080 |
10280.576 |
9262.389 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
12981.928 |
12172.424 |
11154.237 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
14058.028 |
4695.782 |
2542.605 |
|
|
2] Unsecured Loans |
10357.445 |
12171.714 |
8606.800 |
|
|
TOTAL BORROWING |
24415.473 |
16867.496 |
11149.405 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
37397.401 |
29039.920 |
22303.642 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
279.307 |
9.016 |
5.678 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
4670.721 |
1028.744 |
28.308 |
|
|
DEFERRED TAX ASSETS |
68.538 |
50.675 |
45.524 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3342.657
|
4371.970 |
7907.865 |
|
|
Sundry Debtors |
279.020
|
38.282 |
14491.419 |
|
|
Cash & Bank Balances |
309.654
|
197.365 |
66.588 |
|
|
Other Current Assets |
409.012
|
427.811 |
137.552 |
|
|
Loans & Advances |
32229.901
|
24909.336 |
67.569 |
|
Total
Current Assets |
36570.244
|
29944.764 |
22670.993 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
210.792
|
255.152 |
251.496 |
|
|
Other Current Liabilities |
3610.338
|
1542.456 |
87.890 |
|
|
Provisions |
370.279
|
195.671 |
107.475 |
|
Total
Current Liabilities |
4191.409
|
1993.279 |
446.861 |
|
|
Net Current Assets |
32378.835
|
27951.485 |
22224.132 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
37397.401 |
29039.920 |
22303.642 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4012.358 |
4260.205 |
1962.971 |
|
|
|
Other Income |
1.670 |
1.569 |
16.844 |
|
|
|
TOTAL (A) |
4014.028 |
4261.774 |
1979.815 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee benefits expenses |
235.565 |
181.254 |
104.173 |
|
|
|
Other expenses |
733.409 |
766.183 |
366.977 |
|
|
|
TOTAL (B) |
968.974 |
947.437 |
471.150 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3045.054 |
3314.337 |
1508.665 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1849.393 |
1771.230 |
338.910 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1195.661 |
1543.107 |
1169.755 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
10.582 |
1.821 |
1.501 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1185.079 |
1541.286 |
1168.254 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
375.575 |
523.099 |
385.409 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
809.504 |
1018.187 |
782.845 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2389.912 |
1575.362 |
949.086 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to Statutory Reserve |
161.901 |
203.637 |
156.569 |
|
|
BALANCE CARRIED
TO THE B/S |
3037.515 |
2389.912 |
1575.362 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
0.43 |
0.54 |
0.41 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
20.17
|
23.89 |
39.54 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
29.54
|
36.18 |
59.51 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.22
|
5.15 |
5.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.13 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.20
|
1.55 |
1.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
8.73
|
15.02 |
50.73 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
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 |
NOTE
The registered office of the company has been shifted from 14th
Floor, Express Towers, Nariman Point, Mumbai-400021, Maharashtra, India to the
present address w.e.f. 15.04.2011
OPERATIONS / FINANCIAL PERFORMANCE
The loan / credit
book of the Company stood at Rs. 31749.000 millions as on March 31, 2012 as
compared to Rs. 24422.000 million in the previous year.The interest income from
loans has continued to generate significant revenue for them. However,
liquidity crunch in the system and persistent high interest rates has affected
the growth of our net interest income.
FINANCE
The Company had
raised money through issue of Commercial Papers and has availed bank credit
lines from time to time, to meet its financial requirements. The Company enjoys
the ratings of 'CRISIL A1+' for the short term debt programme of Rs. 21000.000
million, "CRISIL PP-MLD AA-r/Stable" for the long term debt programme
of Rs. 4250.000 millions, "CRISIL AA-/ Stable" for the long term debt
programme of Rs. 4550.000 million of the Company and " CRISIL AA-/
Stable" for the bank loan ratings of Rs. 8740.000 million as assigned by
CRISIL Limited and the rating of "PP-MLD[ICRA]AA-(SO)" for the long
term debt programme of Rs. 1000.000 million of the Company as assigned by ICRA
Limited.
FIXED ASSETS:
Tangible assets
·
Building
·
Furniture and Fixtures
·
Vehicles
·
Office equipment
·
Computers
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.54.42 |
|
|
1 |
Rs.88.29 |
|
Euro |
1 |
Rs.71.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
TOTAL |
|
65 |
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.