MIRA
INFORM REPORT
|
Report Date : |
23.07.2013 |
NOTE:
The Registered office of the company has been
shifted form 5/A, Vengal Rao Nagar, Hyderabad – 500082, Andhra Pradesh, India, to the
present address.
IDENTIFICATION DETAILS
|
Name : |
SUJANA TOWERS LIMITED |
|
|
|
|
Registered
Office : |
H. No. 8-2-248/1/7/41/128, Plot No. 41, Nagarjuna Hills, Punjagutta,
Hyderabad – 500 082, Andhra Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
06.04.2006 |
|
|
|
|
Com. Reg. No.: |
01-49743 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.548.829 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L40109AP2006PLC049743 |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturing of Telecom Towers and Transmission Towers |
|
|
|
|
No. of Employees
: |
253 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 31000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
There appears some dip in sales turnover and sharp dip in the profits during
2013. However, trade relations are reported as fair. Business is active.
Payments are reported to be usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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/
Corporate Office : |
H. No. 8-2-248/1/7/41/128, Plot No. 41, Nagarjuna Hills, Punjagutta,
Hyderabad – 500 082, Andhra Pradesh, India
|
|
Tel. No.: |
91-40-23351882/ 5/ 7 |
|
Fax No.: |
91-40-23350766 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Plot No. 128/A, I.D.A. Bollaram – 502325 Jinnaram Mandal, Medak District, Andhra Pradesh, India |
|
|
|
|
Factory 2 : |
Plot No. 10, 11 and 12, Sy. No.172 I.D.A. Bollaram - 502 325 Jinnaram Mandal, Medak District, Andhra Pradesh, India |
|
|
|
|
Factory 3 : |
Plot No. 9, Sy. No.172/EE, U, UU I.D.A. Bollaram - 502 325 Jinnaram Mandal, Medak District, Andhra Pradesh, India |
|
|
|
|
Factory 4 : |
Plot No.159 B and C, Sy. No.172/A I.D.A. Bollaram - 502 325 Jinnaram Mandal, Medak District, Andhra Pradesh, India |
|
|
|
|
Factory 5 : |
Sy. No. 321 Turkala Khanapur Village - 502 201Hatnur Mandal, Medak District, Andhra Pradesh, India |
DIRECTORS
(AS ON 31.03.2012)
|
Name : |
Mr. Y. S. Chowdary |
|
Designation : |
Chairman |
|
Address : |
Plot No. 29, Sagar Co-Operative Housing Society, Banjara Hills, |
|
Date of Birth/Age : |
02.06.1961 |
|
Date of Appointment : |
06.04.2006 |
|
DIN No.: |
00061477 |
|
|
|
|
Name : |
Mr. Y Kameswara Rao |
|
Designation : |
Managing Director |
|
Address : |
Plot No. 428, Road No. 14, Banjara Hills, |
|
Date of Birth/Age : |
06.07.1956 |
|
Date of Appointment : |
29.07.2009 |
|
DIN No.: |
02208678 |
|
|
|
|
Name : |
Mr. G. Srinivasa Raju |
|
Designation : |
Director |
|
Address : |
Flat No. 405, White House, 8-2-674/2A Road, No. 13, Banjara Hills,
Hyderabad – 500 034, Andhra Pradesh, India |
|
Date of Birth/Age : |
20.10.1963 |
|
Date of Appointment : |
29.07.2009 |
|
DIN No.: |
00132249 |
|
|
|
|
Name : |
Mr. S Hanumantha Rao |
|
Designation : |
Director |
|
Address : |
8-3-720/8, Salivahana Nagar, Sri Nagar Colony, |
|
Date of Birth/Age : |
18.07.1951 |
|
Date of Appointment : |
06.04.2006 |
|
DIN No.: |
00118801 |
|
|
|
|
Name : |
Mr. K. S. Purohit |
|
Designation : |
Independent and Non-Executive Directors |
|
Address : |
24 Jaya Shree, |
|
Date of Birth/Age : |
21.02.1930 |
|
Date of Appointment : |
28.04.2007 |
|
DIN No.: |
00019371 |
|
|
|
|
Name : |
Mr. A. S. Anand Kumar |
|
Designation : |
Independent and Non-Executive Directors |
|
Address : |
502, Glen Eagle, Tata Colony, Parle Tank, Mumbai – 400 012, |
|
Date of Birth/Age : |
10.07.1947 |
|
Date of Appointment : |
28.04.2007 |
|
DIN No.: |
00058292 |
|
|
|
|
Name : |
Mr. M. V. Bhaskara Rao |
|
Designation : |
Independent and Non-Executive Directors |
|
Address : |
10-3-102 East Mared Pally Teachers Colony, |
|
Date of Birth/Age : |
13.04.1940 |
|
Date of Appointment : |
03.09.2007 |
|
DIN No.: |
01526381 |
|
|
|
|
Name : |
Mr. L. Visweswar Rao |
|
Designation : |
Independent and Non-Executive Directors |
|
Address : |
L-1-365/1, 103, Lanka Gharuda Apartments, |
|
Date of Birth/Age : |
18.09.1947 |
|
Date of Appointment : |
29.07.2009 |
|
DIN No.: |
02754292 |
|
|
|
|
Name : |
Mr. Anil Ratan Pal |
|
Designation : |
Director (IDBI Nominee) |
|
Address : |
A-1, IDBI Officers Quarter, Opposite Jaya Durga Mandir, UNT – VII,
Near |
|
Date of Birth/Age : |
05.02.1953 |
|
Date of Appointment : |
10.02.2011 |
|
DIN No.: |
00591344 |
KEY EXECUTIVES
|
Name : |
Mr. Latike Narasimha Rao |
|
Designation : |
Company Secretary |
|
Address : |
H. No. 12-6-2-245/A, Vivek Nagar, Kukutpally, |
|
Date of Birth/Age : |
15.04.1963 |
|
Date of Appointment : |
31.12.2007 |
|
PAN No.: |
ACDPL3194R |
|
|
|
|
Name : |
Mr. N. C. Krishna |
|
Designation : |
Chief Financial Officer |
|
|
|
|
COMMITTEE : |
|
|
Audit Committee : |
Mr. A.S. Anand Kumar Mr. K.S. Purohit Mr. M.V. Bhaskara Rao Mr. L.V. Rao Mr. S. Hanumantha Rao |
|
|
|
|
Management Committee : |
Mr. Y.S. Chowdary Mr. Y. Kamesh Mr. G. Srinivasa Raju Mr. S. Hanumantha Rao Mr. M.V. Bhaskara Rao |
|
|
|
|
Share Transfer Committee : |
Mr. S. Hanumantha Rao Mr. G. Srinivasa Raju Mr. M.V. Bhaskara Rao |
|
|
|
|
Shareholders’ Grievances Committee : |
Mr. S. Hanumantha Rao Mr. G. Srinivasa Raju Mr. M.V. Bhaskara Rao |
|
|
|
|
Remuneration Committee : |
Mr. A.S. Anand Kumar Mr. K.S. Purohit Mr. S. Hanumantha Rao |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.06.2013)
|
Category of
Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
|
|
|
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
5630917 |
1.15 |
|
|
183841175 |
37.58 |
|
|
189472092 |
38.74 |
|
|
|
|
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
189472092 |
38.74 |
|
|
|
|
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
8837168 |
1.81 |
|
|
813981 |
0.17 |
|
|
9651149 |
1.97 |
|
|
|
|
|
|
|
|
|
|
143693482 |
29.38 |
|
|
|
|
|
|
|
|
|
|
62247688 |
12.73 |
|
|
81915017 |
16.75 |
|
|
|
|
|
|
2169802 |
0.44 |
|
|
2060124 |
0.42 |
|
|
109678 |
0.02 |
|
|
290025989 |
59.29 |
|
|
|
|
|
Total Public
shareholding (B) |
299677138 |
61.26 |
|
|
|
|
|
Total (A)+(B) |
489149230 |
100.00 |
|
|
|
|
|
(C) Shares held
by Custodians and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
30000000 |
0.00 |
|
|
30000000 |
0.00 |
|
|
|
|
|
Total
(A)+(B)+(C) |
519149230 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs.0.100 MillionBUSINESS DETAILS
|
Line of Business : |
Manufacturing of Telecom Towers and Transmission Towers |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
253 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· IDBI Bank Limited · Karnataka Bank Limited · UCO Bank · SBI Factors and Commercial Services (Private) Limited · Central Bank of India · Andhra Bank · Punjab National Bank · Exim Bank Limited |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institutions : |
· Sicom Limited · L&T Infrastructure and Finance Company Limited |
|
|
|
|
Statutory Auditors : |
|
|
Name : |
R. Subramanian and Company Chartered Accountants |
|
Address : |
No.6 (36), Krishnaswamy Iyer Avenue, Luz, Mylapore – 600004,
Tamilnadu, India |
|
PAN No.: |
AAAFR0602F |
|
|
|
|
Cost Auditors : |
Nageswara Rao and Company Cost Accountants, Secunderabad |
|
|
|
|
Subsidiaries : |
·
Sujana Transmission Limited ·
Telesuprecon Limited ·
Digitech Business Systems Limited ·
STL Africa Limited |
CAPITAL STRUCTURE
(AS ON 31.03.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
940000000 |
Equity Shares |
Re.1/- each |
Rs.940.000 millions |
|
600000 |
Preference Shares |
Rs.100/- each |
Rs.60.000 millions |
|
|
|
|
|
|
|
Total |
|
Rs.1000.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
519149230 |
Equity Shares |
Re.1/- each |
Rs.519.149
millions |
|
296795 |
Preference Shares |
Rs.100/- each |
Rs.29.680
millions |
|
|
|
|
|
|
|
Total |
|
Rs.548.829 millions |
NOTE:
The reconciliation
of the number of equity shares outstanding is set out below:
|
Particulars |
As at 31 March
2012 (in number) |
|
|
|
|
Shares outstanding at the beginning of the year |
491,649,230 |
|
Shares Issued during the year |
27,500,000 |
|
Shares bought back during the year |
-- |
|
Shares
outstanding at the end of the year |
519,149,230 |
The reconciliation
of the number of preference shares outstanding is set out below:
|
Particulars |
As at 31 March
2012 (in number) |
|
|
|
|
Shares outstanding at the beginning of the year |
296,795 |
|
Shares Issued during the year |
-- |
|
Shares bought back during the year |
-- |
|
Shares outstanding at the end of the year |
296,795 |
1% Cumulative
Redeemable Preference Shares (CRPS) are redeemable in 12 quarterly installments
commencing from 01.10.2013
The details of shareholder holding more than 5% equity shares is set
below:
|
Name of
Shareholder |
As at 31 March
2012 |
|
|
|
No. of Shares held |
% of Holding |
|
|
|
|
|
Yalamanchili Finance and Trading (Private) Limited |
47,675,000 |
9 |
|
Sujana Holdings Limited |
75,000,000 |
14 |
|
Foster Infin and Trading (Private) Limited |
50,960,000 |
10 |
|
Sujana Finance and Trading (Private) Limited |
-- |
-- |
|
Siva Projects Engineering and Enterprises Limited |
26,099,467 |
5 |
The details of shareholder holding more than 5% cumulative, redeemable
preference shares is set below:
|
Name of
Shareholder |
As at 31 March
2012 |
|
|
|
No. of Shares held |
% of Holding |
|
|
|
|
|
Industrial Development Bank of India Limited |
296,795 |
100 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 (18 Months) |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
548.829 |
521.329 |
|
(b) Reserves & Surplus |
|
7112.554 |
6230.776 |
|
(c) Money received against share warrants |
|
0.000 |
75.625 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1)+(2) |
|
7661.383 |
6827.730 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1965.134 |
602.472 |
|
(b) Deferred tax liabilities (Net) |
|
658.910 |
556.319 |
|
(c) Other long
term liabilities |
|
30.467 |
30.467 |
|
(d) long-term
provisions |
|
7.896 |
6.832 |
|
Total Non-current
Liabilities (3) |
|
2662.407 |
1196.090 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
5352.787 |
5049.742 |
|
(b)
Trade payables |
|
3887.405 |
2801.523 |
|
(c)
Other current liabilities |
|
576.000 |
389.573 |
|
(d) Short-term
provisions |
|
568.028 |
333.288 |
|
Total Current
Liabilities (4) |
|
10384.220 |
8574.126 |
|
|
|
|
|
|
TOTAL |
|
20708.010 |
16597.946 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
3864.561 |
3216.703 |
|
(ii)
Intangible Assets |
|
1.121 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1399.868 |
0.722 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
709.721 |
2091.913 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
5975.271 |
5309.338 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
2069.987 |
1668.950 |
|
(c)
Trade receivables |
|
10665.397 |
6368.717 |
|
(d) Cash
and cash equivalents |
|
573.016 |
587.847 |
|
(e)
Short-term loans and advances |
|
1417.465 |
2659.786 |
|
(f)
Other current assets |
|
6.874 |
3.308 |
|
Total
Current Assets |
|
14732.739 |
11288.608 |
|
|
|
|
|
|
TOTAL |
|
20708.010 |
16597.946 |
|
SOURCES OF FUNDS |
|
|
30.09.2009 (12 Months) |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
236.845 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
2690.721 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
2927.566 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
2692.317 |
|
|
2] Unsecured Loans |
|
|
80.467 |
|
|
TOTAL BORROWING |
|
|
2772.784 |
|
|
DEFERRED TAX LIABILITIES |
|
|
527.604 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
6227.954 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2523.118 |
|
|
Capital work-in-progress |
|
|
863.944 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.717 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
362.276 |
|
|
Sundry Debtors |
|
|
1586.247 |
|
|
Cash & Bank Balances |
|
|
185.022 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
1080.609 |
|
Total
Current Assets |
|
|
3214.154 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
205.827 |
|
|
Other Current Liabilities |
|
|
46.610 |
|
|
Provisions |
|
|
121.542 |
|
Total
Current Liabilities |
|
|
373.979 |
|
|
Net Current Assets |
|
|
2840.175 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
6227.954 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 (18 Months) |
30.09.2009 (12 Months) |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
20412.868 |
17522.385 |
6988.615 |
|
|
|
Other Income |
148.530 |
12.104 |
22.159 |
|
|
|
TOTAL |
20561.398 |
17534.489 |
7010.774 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2259.853 |
3488.327 |
|
|
|
|
Purchase of Stock-in-trade |
14975.757 |
11052.369 |
|
|
|
|
Change in inventory of finished goods, work-in-progress and
stock-in-trade |
159.433 |
(227.152) |
6077.171 |
|
|
|
Employee benefits |
96.843 |
121.728 |
|
|
|
|
Other expenses |
577.431 |
696.666 |
|
|
|
|
TOTAL |
18069.317 |
15131.938 |
6077.171 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
2492.081 |
2402.551 |
933.603 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1322.417 |
995.381 |
306.641 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1169.664 |
1407.170 |
626.962 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
195.274 |
267.911 |
134.389 |
|
|
|
|
|
|
|
|
|
Add |
PRIOR PERIOD
ITEMS |
0.000 |
0.000 |
0.528 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
974.390 |
1139.259 |
493.101 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
363.613 |
353.198 |
173.532 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
610.777 |
786.061 |
319.569 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
631.759 |
700.458 |
232.329 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Traded Goods |
575.998 |
837.195 |
0.000 |
|
|
TOTAL IMPORTS |
575.998 |
837.195 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
1.18 |
1.88 |
7.70 |
|
|
|
Diluted |
1.18 |
1.77 |
7.70 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2012 |
30.09.2012 |
31.12.2012 |
31.03.2013 |
|
Type |
1st Quarter |
2nd Quarter |
3rd Quarter |
4th Quarter |
|
Net Sales |
5304.200 |
4226.800 |
2828.900 |
5640.900 |
|
Total Expenditure |
4950.400 |
3916.700 |
2369.500 |
5031.800 |
|
PBIDT (Excl OI) |
353.800 |
310.100 |
459.400 |
609.200 |
|
Other Income |
7.100 |
1.200 |
1.100 |
12.300 |
|
Operating Profit |
360.900 |
311.300 |
460.500 |
621.400 |
|
Interest |
286.700 |
235.300 |
400.200 |
544.500 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
74.100 |
75.900 |
60.300 |
76.900 |
|
Depreciation |
54.200 |
54.300 |
54.600 |
58.500 |
|
Profit Before Tax |
19.900 |
21.600 |
5.700 |
18.400 |
|
Tax |
10.800 |
8.500 |
5.600 |
3.400 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
9.100 |
13.100 |
0.100 |
15.000 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
9.100 |
13.100 |
0.100 |
15.000 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 (18 Months) |
30.09.2009 (12 Months) |
|
PAT / Total
Income |
(%) |
2.97
|
4.48
|
4.56 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.77
|
6.50
|
7.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.05
|
6.86
|
8.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.17
|
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.96
|
0.83
|
1.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.42
|
1.32
|
8.59 |
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 |
Yes |
|
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 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
------------------------------------------------------------------------------------------------------------------------------
CASE STATUS INFORMATION
|
CP 137 / 2013 |
CPSR 3940 / 2013 |
CASE IS:PENDING
|
|
PETITIONER |
RESPONDENT |
|
M/S BHIRAGACHA
FINANCE COMPANY PRIVATE LIMITED |
VS M/S
SUJANA TOWERS LIMITED |
|
|
|
|
PET.ADV. : Siddharth Chitturi |
RESP.ADV. : |
|
|
|
|
Subject: Company Petition |
District: Hyderabad |
|
|
|
|
Filing Date: 24-06-2013 |
Posting Stage : FOR
ADMISSION |
|
Reg. Date : 25-06-2013 |
Listing Date : 24-07-2013
Status: Notices |
|
|
|
|
Hon'ble Judge(S): |
Raja Elango |
------------------------------------------------------------------------------------------------------------------------------
UNSECURED LOANS
|
Particulars |
31.03.2012 |
31.03.2011 (18 Months) |
|
|
(Rs. In Millions) |
|
|
Long Term
Borrowings |
|
|
|
Others -Interest Free Unsecured Loans taken from others repayable on
30.09.2013. |
1650.000 |
-- |
|
Short Term
Borrowings |
|
|
|
Inter Corporate Deposits -Inter corporate
deposits taken from various Companies and the amount defaulted is Rs. 49.500
Millions which includes : (i) Aidek Property Private Limited for Rs. 5.000 Millions for a period
of 7 months. (ii) Bhiragacha Finance Company Private Limited for Rs.15.000 Millions
for a period of 3 months. (iii) Gateway Leasing Private Limited for Rs.10.000 Millions for a period
of 6 months. (iv) Nalikul Private Limited for Rs. 2.500 Millions for a period of 9
months. (v) Spectrum Trimpex Private Limited for Rs.7.000 Millions for a
period of 3 months and (vi) Zenith Infotech Limited for Rs. 10.000 Millions for a period of 8
months. |
468.841 |
330.754 |
|
|
|
|
|
Total |
2118.841 |
330.754 |
COMPANY’S PERFORMANCE
The Directors hereby report that the Company has achieved a turnover of
Rs.20342.514 Millions upto 31.03.2012 consisting of Twelve (12) months, as
against the turnover of Rs.17491.269 Millions during the previous financial
period ended 31.03.2011 consisting of Eighteen (18) months.
REVIEW OF OPERATIONS
The Company
achieved a turnover of Rs.20342.514 Millions and earned profit after tax of
Rs.610.777 Millions. The Gross Block as on 31.03.2012 stood at Rs.4868.821 Millions
and the Net Block as on 31.03.2012 stood at Rs.3865.682 Millions.
SUBSIDIARIES OF THE COMPANY
· Digitech Business Systems Limited
The operations of
Digitech Business Systems Limited have progressed in a small way. It earned
revenue of Rs.1193.711 Millions.
·
Telesuprecon
Limited
Telesuprecon
Limited has branches in three countries, providing telecom infrastructure
services to Telecom operators.
The telecom
business in Africa has slowed down and many contracts were kept pending due to
market conditions. The business is showing signs of positive growth and the
contracts are being revived.
·
STL
Africa Limited
STL Africa
Limited, has achieved a turnover of Rs.1890.117 Millions, and earned a profit
of Rs.493.611 Millions. The Company is concentrating to expand the business in
the area of EPC Contract Segment.
·
Sujana
Transmissions Limited
During the year,
Sujana Transmissions Limited has been closed under Fast Track as per the Scheme
introduced by the Ministry of Corporate Affairs, New Delhi.
FUTURE PLANS
The Company is
making all efforts to enhance the share of the market of both telecom and
transmissions sector on it’s own as well as through it’s subsidiary Companies
viz., Digitech Business Systems Limited, Hong Kong,. Telesuprecon Limited,
Mauritius and STL Africa Limited, Mauritius. The present trend in the market
and the opportunities available in market are analytically narrated elsewhere
in this report.
PROSPECTS
Indian GDP is
estimated at 7.6% in F.Y. 2012- 13 as per Prime Minister’s Economic Advisory
Council (PMEAC). Indian steel demand is also expected to track GDP growth
supported by easing interest rate cycle and resultant revival in
infrastructure, construction, industrial and manufacturing sectors. Prediction
of good monsoon in the current year, declining commodity prices globally, lower
interest rates are positive to spur economic activity in the country.
Notwithstanding, fragile recovery in US, sovereign debt crisis in Europe and
slow down in china, domestic demand/ consumption is one of the primary drivers
of Indian Economy, to be optimistic to show a GDP growth of above 7%.
MANAGEMENT DISCUSSION AND ANALYSIS
In a nutshell, the
business environment for the Company was challenging, to say the least during
the year. They have seen fierce competition from small players, volatility in
currency and in commodity prices, entry of new players from other industry
segments, inordinate delays in Power capacity additions and Power density
improvement projects played major constraints for growth.
The power
availability and political unrests in Andhra Pradesh have also played a
negative role on the operations of the Company.
INDUSTRY OVERVIEW
Transmission
Sector in India
The Power Transmission
sector is receiving greater focus than ever before due to an increasing power
deficit and the Government’s thrust on the power sector. The country’s bulk
transmission has increased from 3,708 ckm in 1950 to 170,800 ckm (Circuit
Kilometers) in 1990-91 and to more than 265,000 ckm in 2009. The Government of
India has initiated development of secure and economic national and regional
grids, while working towards improving redundancy levels guided by
international standards and practices. The existing inter-regional power
transfer capacity of 17,000 MW is expected to be enhanced to 37,150 MW by 2012
(and to 50,000 MW by 2016) through creation of ‘Transmission Super Highways’.
This initiative offers a great opportunity for the products of the Company. For
transmission and distribution business, implementation of National Grid by
PGCIL is expected to sustain the present demand surge in the medium term.
TSF Division: The Government of
India plans to add about 100,000 MW of additional generation capacity by 2021.
For TSF division of the Company, such huge investment plans by public and
private sector in the power generation is expected to afford more and more
opportunities in this line of business.
Further, the
Company’s own experience of executing these projects will certainly enhance its
competitive bidding ability.
Having recognized
that the overall ability to sustain margins in a competitive and tender driven
industry as the critical success factor, The Company is proactively investing
on improvement of its project execution skills coupled with better supply chain
management and optimization of working capital resources.
Growth plans
Looking at the
current market trends prevailing STL is going ahead with aggressive plans with
following sectoral approach as key channels for Growth:
· Power
o
Generation (EPC)
o
Transmission
o
Manufacturing
o
EPC
o
Refurbishment (EPC)
· Telecom
o Telecom towers
o
Manufacturing
o
EPC
o
Tower augmentation
o
Operation and maintenance
· Oil and Gas
· Railways
o
Electrification
o
Track Laying
Summary of key
actionables for STL’s overall business growth
· Foray into the EPC space is the way forward
· Large scale investments planned in infrastructure
· Natural extension of existing business coupled with low capital intensity
Indian Steel Industry
While the demand
for steel will continue to grow in traditional sectors such as infrastructure, construction,
housing automotive, steel tubes and pipes, consumer durables, packaging, and
ground transportation, specialized steel will be increasingly used in hi-tech
engineering industries such as power generation, petrochemicals, fertilizers, etc.
The new airports and railway metro projects will require a large amount of
stainless steel.
According to an
estimate, with the growing need for oil and gas transportation infrastructure,
a US$ 118 billion opportunity is waiting to be tapped by steel manufacturers in
the next five years. Indian steelmakers are set to make the most of booming
global demand for steel pipes and tubes with the government withdrawing the 10
per cent duty on the exports of these products. Indian steel Companies are
likely to get 19 per cent of the total global demand in the years to come.
Telecom Sector in
India
The Indian
telecommunications industry is one of the fastest growing in the world and India
has become the second largest telecom market globally by 2011. India continues
to be the world’s fastest-growing mobile market and the total number of GSM
users in the country has risen to 700 million as of May-end as per data
released by the Cellular Operators’ Association of India (COAI).
According to
industry estimates, about $25 billion will be invested by telecom service
providers over the next two years, in building new infrastructure, or upgrading
existing facilities. And a large chunk of this will be spent on expanding the
network of mobile towers affording a viable opportunity for the Company.
PERFORMANCE
The Company has
achieved a turnover of Rs.20342.514 Millions with the production of 61825 MTs
of re-rolled steel products, prefabricated and galvanized steel, and
consumption of bought out components of 362994 MTs against the installed
capacity of 298,125 MTs and earned profit after tax of Rs.610.777 Millions
The Company is
continuously focusing on fast and quality execution, cost reduction, obtaining
of financial support from banks with competitive interest rates; order book
building is being achieved by retaining the existing customers as well by
exploring new customers to retain the upward trend in the performance of the Company.
CONTINGENT
LIABILITIES
|
Particulars |
31.03.2012 |
31.03.2011 (18 Months) |
|
|
(Rs. in Millions) |
|
|
Bank Guarantees availed from Banks |
996.385 |
913.517 |
|
Joint Corporate
Guarantee executed by the Company along with Sujana Universal Industries
Limited (SUIL) and Sujana Metal products Limited (SMPL) in favor of Alpha ventures
Limited which is a wholly owned subsidiary of SMPL and Sujana Holdings
Limited which is a Subsidiary of SUIL. |
Nil |
2000000 USD |
|
Claims against the Company not acknowledged as Debts |
-- |
0.171 |
|
Disputed Excise Liability not provided for |
3.098 |
3.098 |
|
Disputed Sales
tax liability for which the Company preferred an appeal |
7.202 |
Nil |
STATEMENT OF
STANDALONE AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31ST MARCH,
2013.
(RS. IN MILLIONS)
|
S. No. |
Particulars |
3 months ended 31.03.2013 |
Preceding 3 months ended 31.12.2012 |
Year to date figures for current
year ended 31.03.2013 |
|
|
|
Audited |
Unaudited |
Audited |
|
1 |
Income
From Operations |
|
|
|
|
|
a. Net
Sales/Income from Operations |
5640.516 |
2825.202 |
17983.023 |
|
|
b. Other
Operating Income |
0.382 |
3.728 |
16.868 |
|
|
Total
income from Operations (Net) |
5640.898 |
2828.930 |
17999.891 |
|
|
|
|
|
|
|
2 |
Expenses |
|
|
|
|
|
a. Cost
of Materials Consumed |
804.155 |
245.965 |
1813.442 |
|
|
b.
Purchases of Stock-in-trade |
3997.287 |
2035.535 |
14000.276 |
|
|
c.
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
10.274 |
33.792 |
46.202 |
|
|
d.
Employee benefits expenses |
23.201 |
19.368 |
89.420 |
|
|
e.
Depreciation and amortization expenses |
58.519 |
54.566 |
221.632 |
|
|
f. Other
Expenses (Any Item exceeding 10% of the total Expenses relating to continuing
operations to be shown |
196.833 |
34.878 |
319.135 |
|
|
Total
Expenses |
5090.269 |
2424.103 |
16490.108 |
|
|
|
|
|
|
|
3 |
(Profit/(Loss)
from operations before other income, finance costs and exceptional items |
550.629 |
404.827 |
1509.784 |
|
4 |
Other
Income |
12.271 |
1.077 |
22.579 |
|
5 |
Profit/(Loss)
from ordinary activities before finance costs and exceptional items (3 + 4) |
562.900 |
405.905 |
1532.363 |
|
6 |
Finance
costs |
544.501 |
4,00.179 |
1466.733 |
|
7 |
Profit/(Loss)
from ordinary activities after finance costs but before exceptional items (5
+ 6) |
18.399 |
5.726 |
65.630 |
|
8 |
Exceptional
Items |
-- |
-- |
-- |
|
9 |
Profit/(Loss)
from ordinary activities before tax (7 + 8) |
18.399 |
5.726 |
65.630 |
|
10 |
Tax
Expenses |
3.419 |
5.622 |
28.339 |
|
11 |
Net
Profit/(Loss) from ordinary activities after tax (9 + 10) |
14.979 |
0.105 |
37.291 |
|
12 |
Extraordinary
items (net of tax expenses Rs. in Millions) |
-- |
-- |
-- |
|
13 |
Net
Profit/(Loss) for the period 11 + 12) |
14.979 |
0.105 |
37.291 |
|
14 |
Share of
Profit/(Loss) of associates |
-- |
-- |
-- |
|
15 |
Minority
Interest |
-- |
-- |
-- |
|
16 |
Net
Profit/(Loss) after taxes, minority interest and share of profit/(Loss) of
associates (13+14+15) |
14.979 |
0.105 |
37.291 |
|
17 |
Paid-Up
equity share capital (Face Value of Rs.1/- each) |
519.149 |
519.149 |
519.149 |
|
18 |
Reserve
excluding revaluation reserves as per balance sheet of previous accounting
year |
-- |
-- |
7149.468 |
|
|
|
|
|
|
|
19.i |
Earnings per share (before extraordinary
items) (of Rs.1/- each) (not annualised): |
|
|
|
|
|
(a)
Basic |
0.03 |
- |
0.07 |
|
|
(b)
Diluted |
0.03 |
- |
0.07 |
|
|
|
|
|
|
|
19.ii |
Earnings per share (after extraordinary
items ) (of Rs.1/- each) (Not annualised) |
|
|
|
|
|
(a)
Basic |
0.03 |
- |
0.07 |
|
|
(b)
Diluted |
0.03 |
- |
0.07 |
|
|
|
|
|
|
|
A |
Particulars of Share Holdings |
|
|
|
|
1 |
Public Share Holding |
|
|
|
|
|
-Number
of Shares |
329,677,138 |
329,677,138 |
329,677,138 |
|
|
-Percentage
of Holding |
63.50 |
63.50 |
63.50 |
|
|
|
|
|
|
|
2 |
Promoters and Promoter Group
Shareholding |
|
|
|
|
|
a) Pledged/Encumbered |
|
|
|
|
|
-
Number of shares |
147,971,916 |
147,971,916 |
147,971,916 |
|
|
-Percentage
of Shares (as a % of the total shareholding of promoter and promoter group) |
78.10 |
78.10 |
78.10 |
|
|
-Percentage
of Shares ( as a % of the total share capital of the company) |
28.50 |
28.50 |
28.50 |
|
|
|
|
|
|
|
|
b) Non - Encumbered |
|
|
|
|
|
-Number
of Shares |
41,500,176 |
41,500,176 |
41,500,176 |
|
|
-Percentage
of Shares ( as a % of the total Shareholding of Promoter an Promoter group) |
21.90 |
21.90 |
21.90 |
|
|
-Percentage
of Shares (as a % of the total Share capital of the Company) |
7.99 |
7.99 |
7.99 |
|
S. No. |
Particulars |
3 Months Ended 31.03.2013 |
|
B. |
Investor Complaints |
|
|
|
Pending
at the beginning of the quarter |
Nil |
|
|
Received
during the quarter |
Nil |
|
|
Disposed
of during the quarter |
Nil |
|
|
Remaining
unresolved at the end of the quarter |
Nil |
NOTE:
·
The above results have been reviewed by the Audit Committee
and approved by the Board of Directors on 29th May 2013.
·
The standalone financial results
were available at the Registered Office of the Company as well as Company's
Website www.sujana.com for
inspection of members of the Company.
·
The figures of last quarter are
the balancing figures between audited figures in respect of the full financial
year and the published year to date figures upto the third quarter of the
current financial year.
·
The statutory auditors of the
Company have Audited the standalone results for the year ended 31.03.2013 as per
Clause 41 of the Listing Agreement except the subsidiary accounts.
·
As the Company's Business Activity
falls within a single primary business segment viz., "Power and Telecom
Infrastructure" the disclosure of Accounting Standard (AS)-17
"Segment Reporting" as notified in Section 211(3C) of the Companies
Act ,1956 is not applicable to the Company.
·
As the Company's Business Activity
falls within a single primary business segment viz., "Power and Telecom
Infrastructure" the disclosure of Accounting Standard (AS)-17
"Segment Reporting" as notified in Section 211(3C) of the Companies
Act ,1956 is not applicable to the Company.
·
To facilitate comparison, figures
of the previous period have been re-arranged, wherever necessary.
·
CDR Empowered Group has approved
the Corporate Debt Restructuring (CDR) Package of the Company on March 25,
2013.
·
The
Statement of assets and liabilities as required under Clause 41(v)(h) of the
Listing Agreement is as under for the Standalone financials
|
|
PARTICULARS |
As at current year ended 31.03.2013 |
|
|
|
Audited |
|
A |
EQUITY AND LIABILITIES |
|
|
1 |
Share Holders Funds |
|
|
|
(a) Share Capital |
548.829 |
|
|
(b) Reserves and Surplus |
7149.468 |
|
|
(c) Money received against share warrants |
- |
|
|
Sub-Total Share
Holders’ Funds |
7698.296 |
|
2 |
Share Application Money pending Allotment |
- |
|
3 |
Minority Interest |
- |
|
4 |
Non-Current Liabilities |
|
|
|
(a) Long Term Borrowings |
4435.888 |
|
|
(b) Deferred Tax Liability (Net) |
674.118 |
|
|
(c) Other Long Term Liabilities |
30.467 |
|
|
(d) Long Term Provisions |
11.986 |
|
|
Sub- Total
Non-Current Liabilities |
5152.459 |
|
5 |
Current Liabilities |
|
|
|
(a) Short Term Borrowings |
7313.326 |
|
|
(b) Trade Payables |
3792.042 |
|
|
(c) Other Current Liabilities |
297.976 |
|
|
(d) Short-term Provisions |
574.403 |
|
|
Sub- Total
Current Liabilities |
11977.747 |
|
|
TOTAL - EQUITY AND LIABILITIES |
24828.503 |
|
B |
ASSETS |
|
|
1 |
Non-Current Assets |
|
|
|
(a) Fixed Assets |
3662.848 |
|
|
(b) Goodwill on Consolidation |
- |
|
|
(c) Non-Current Investments |
1399.868 |
|
|
(d) Deferred Taxes (Net) |
- |
|
|
(e) Long Term Loans and Advances |
4347.798 |
|
|
(f) Other non-Current Assets |
|
|
|
Sub Total Non-Current Assets |
9410.514 |
|
2 |
Current Assets |
|
|
|
(a) Current Investments |
|
|
|
(b)Inventories |
562.134 |
|
|
(c) Trade Receivables |
13854.072 |
|
|
(d) Cash and Cash Equvalents |
224.274 |
|
|
(e) Short-Term loans and advances |
587.267 |
|
|
(f) Other Current Assets |
190.241 |
|
|
Sub-total-
Current Assets |
15417.988 |
|
|
TOTAL - ASSETS |
24828.503 |
FIXED ASSETS:
· Freehold Land
· Building
· Plant and Machinery
· Workshop Equipments
· Weighing Machine
· Electrical Installations
· Furniture and Fixtures
· Office Equipments
· Vehicles
· Computer Software
· Computers
NEWS:
Sujana Towers to
invest Rs.3000.000 Millions in Assam tower facility
Sujana Towers (STL), a Hyderabad-based telecom and power infrastructure company, is planning to set up a tower manufacturing facility at Guwahati in Assam with an outlay of Rs.3000.000 Millions within the next financial year, according to managing director Kamesh Yalamarty.
“We are in the process of acquiring 100 acre in a government-owned special economic zone at Guwahati. The facility, to come up in 500,000 sft of constructed area with 100,000-tonne processing capacity, will comprise a unit each for fabrication, surface finishings and to make electrification structures for the Railways besides a tower-testing station that will cater to the needs of east and northeastern parts of the country,” he told Business Standard.
As against the conventional practice of 1:2 equity and debt, the company proposes to go in for a 2:1 equity-debt mix. The project will go on stream within the next fiscal.
Northeast has in abundance water resources and coal, which till now was used only for cement. Now, the government is giving permissions for coal-based power projects, Yalamarty said.
“Besides, there is a lot of outlay being earmarked for railway network in the region, which holds huge potential for STL. We expect a business potential of between Rs.7000.000 Millions and Rs 10000.000 Millions from the new facility in one-and-a-half years,” he added.
STL currently has six manufacturing units in and around Hyderabad, churning out 200,000 tonne of towers, 28,000 tonne of TSF (technological structures fabrication), 100 billion kilometre of cable and about 19,000 tonne of conductors annually and on a three-shift basis. Its annual installed capacity in terms of value is Rs.20000.000 Millions. Yalamarty said the company had an orderbook of Rs.9000.000 Millions (equivalent to 100,000 tonne of towers) and was hopeful of doubling it by the end of April this year.
Stating that the company closed the last financial year with a net profit of Rs.600.000 Millions on revenues of Rs 9500.000 Millions, he said it was expecting to net Rs.900.000 Millions on Rs.15700.000 Millions revenues this year. “The growth will primarily be triggered by the spurt in transmission business. Also, the efforts that we had put in the North African market in the last two years have started bearing fruit,” he said.
STL, had in June 2008, acquired a 51 per cent stake in Mauritius-based telecom infrastructure company Telesuprecon Limited for an undisclosed sum. Telesuprecon has branches in various east and central African countries.
Sujana had also floated a subsidiary, Sujana STL Africa, spreading its operations to Zambia and Kenya.
Yalamarty said exports currently contributed 15 per cent to STL’s turnover and the company was planning to take it to 40 per cent in four years.
“Our internal target is to report revenues of Rs.50000.000 Millions and a bottom line of Rs.5000.000 Millions by 2016, with a Rs.20000.000 Millions export income down the road,” he said.
Stock of STL, which was cleaved from publicly-listed Sujana Metal Products Limited, ended the trade at Rs 34.90 on the BSE on Friday, up 1.60 per cent over the previous close of Rs 34.35.
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 records 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.59.80 |
|
|
1 |
Rs.91.03 |
|
Euro |
1 |
Rs.78.52 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
52 |
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.