MIRA INFORM REPORT
|
Report Date : |
27.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
PATEL ENGINEERING LIMITED (w.e.f 09.12.1999) |
|
|
|
|
Formerly Known
As : |
PATEL ENGINEERING COMPANY LIMITED |
|
|
|
|
Registered
Office : |
Pate |
|
|
|
|
Country : |
India |
|
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|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
02.04.1949 |
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|
|
|
Com. Reg. No.: |
11-007039 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 69.800 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L99999MH1949PLC007039 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP02050G MUMP00205C |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACP2567L |
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|
Legal Form : |
A Public Limited Liability Company. The company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Construction of tunnels, dams, bridges, buildings, power stations, marine
works etc |
|
|
|
|
No. of Employees
: |
1310 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 58000000 |
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|
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|
Status : |
Good |
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|
|
Payment Behaviour : |
Regular |
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Litigation : |
Exists |
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|
Comments : |
Subject is a well established company having fair track record. There appears a slight increase in sales turnover whereas a drastic
fall in the net profitability during 2013. However, financial position is
strong and healthy. Liquidity position is good. Trade relations are fair. Business is active. Payment terms are reported
to be regular and as per commitments. In view of experienced promoters the subject 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = A |
|
Rating Explanation |
Adequate degree of safety and carry low credit risk |
|
Date |
18.03.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A1 |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk |
|
Date |
18.03.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
|
Name : |
Mr. Prakash Patel |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-26767500 / 661 |
|
Date : |
25.06.2013 |
LOCATIONS
|
Registered Office : |
Pate |
|
Tel. No.: |
91-22-26782916/26782885/26782560/26767500 Extn: 661 |
|
Fax No.: |
91-22-26782455/26781505 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2012
|
Name : |
Mr. Pravin Arjunbhai Patel |
|
Designation : |
Chairman |
|
Address : |
A.K. Abdul Razzak Patel Bungalow 5-D Dadabhai Road, Santacruz (West), Mumbai 400054, Maharashtra, India |
|
Date of Birth/Age : |
03.01.1937 |
|
Date of Appointment : |
29.08.1989 |
|
DIN No.: |
00029453 |
|
|
|
|
Name : |
Mr. Rupen Pravin Patel |
|
Designation : |
Managing Director |
|
Address : |
A.K.Patel Bungalow 5-D Dadabhai Road, Santacruz (West), Mumbai 400054, Maharashtra, India |
|
Date of Birth/Age : |
24.08.1966 |
|
Date of Appointment : |
26.10.1995 |
|
DIN No.: |
00029583 |
|
|
|
|
Name : |
Mr. Krishnamoorthy Kannan |
|
Designation : |
Director |
|
Address : |
576-B, Mahesh, Jame Jamshedji Road, Matunga, Mumbai -400019, Maharashtra, India |
|
Date of Birth/Age : |
17-11-1939 |
|
Date of Appointment : |
04.08.2005 |
|
|
|
|
Name : |
Mr. Khizer Abdul Razzak Ahmed |
|
Designation : |
Director |
|
Address : |
C-34, 1st Floor, Malviya Nagar, New Delhi 100 017, India |
|
Date of Birth/Age : |
15-01-1940 |
|
Date of Appointment : |
04.08.2005 |
|
|
|
|
Name : |
Mr. Srinivasa Jambunathan |
|
Designation : |
Director |
|
Address : |
9, Prakash Co-op. Hsg. Society, Relief Road, Daulat Nagar, Santacruz (West), Mumbai – 400 054, Maharashtra, India |
|
Date of Birth/Age : |
01.05.1938 |
|
Date of Appointment : |
30.03.2009 |
|
|
|
|
Name : |
Ms. Silloo Patel, |
|
Designation : |
Whole Time Director |
|
Address : |
5A, Monisha, St.Andrews Road, Bandra, Mumbai 400 050, Maharashtra, India |
|
Date of Birth/Age : |
14.05.1947 |
|
Date of Appointment : |
19.10.1992 |
|
DIN No.: |
00029656 |
|
|
|
|
Name : |
Mr. Nimish Patel |
|
Designation : |
Whole Time Director |
|
Address : |
`Sharda’ 51, Hatkesh Society, 7th Road, JVPD Scheme, Vile Parle (West), Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
28.02.1970 |
|
Date of Appointment : |
01.02.1999 |
|
|
|
|
Name : |
Mr. Priyavadan C. Purohit |
|
Designation : |
Director |
|
Address : |
1906-1238, Melville St Vancouver Bc V6e4n2 Canada |
|
Date of Birth/Age : |
17.03.1940 |
|
Date of Appointment : |
30.03.2009 |
|
|
|
|
Name : |
Mr. Bhaskar Mehta |
|
Designation : |
Director |
|
Address : |
Cozy Cottage, Adiyabad Estate, A.B. Nair Road, Juhu, Santacruz (West), Mumbai - 400054, Maharashtra, India |
|
Date of Birth/Age : |
17.08.1934 |
|
Date of Appointment : |
22.09.2009 |
KEY EXECUTIVES
|
Name : |
Ms. Shetty
Ranjit Shobha |
|
Designation : |
Company
Secretary |
|
Address : |
404, |
|
Date of Birth/Age : |
26.03.1976 |
|
Date of Appointment : |
01.10.2003 |
|
Pan No.: |
AAQPS3031B |
|
|
|
|
Name : |
Mr. Prakash Patel |
|
Designation : |
Accounts Manager |
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|
|
|
Audit Committee : |
|
|
|
|
|
Remuneration
Committee : |
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2013
|
Category of
Shareholder |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
3473750 |
4.97 |
|
|
28430550 |
40.72 |
|
|
31904300 |
45.69 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
31904300 |
45.69 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
739792 |
1.06 |
|
|
1930182 |
2.76 |
|
|
2266764 |
3.25 |
|
|
1880300 |
2.69 |
|
|
6817038 |
9.76 |
|
|
|
|
|
|
3757382 |
5.38 |
|
|
|
|
|
|
13429633 |
19.23 |
|
|
4471721 |
6.40 |
|
|
9447077 |
13.53 |
|
|
855838 |
1.23 |
|
|
847473 |
1.21 |
|
|
1697159 |
2.43 |
|
|
6046607 |
8.66 |
|
|
31105813 |
44.55 |
|
Total Public shareholding (B) |
37922851 |
54.31 |
|
Total (A)+(B) |
69827151 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
69827151 |
0.00 |
Shareholding
belonging to the category "Promoter and Promoter Group"
|
.No. |
Name of the
Shareholder |
Details of Shares held |
|
|
|
|
No. of Shares held |
As a % of grand total (A)+(B)+(C) |
|
1 |
Patel Corporation LLP |
1,43,03,300 |
20.48 |
|
2 |
Praham India LLP |
1,40,37,000 |
20.10 |
|
3 |
Patel Rupen Pravin |
13,52,600 |
1.94 |
|
4 |
Patel Pravin Arjunbhai |
40,800 |
0.06 |
|
5 |
Sonal Patel |
3,50,500 |
0.50 |
|
6 |
Riana Batra |
1,99,950 |
0.29 |
|
7 |
Patel Chandrika Pravin |
1,49,900 |
0.21 |
|
8 |
Alina Rupen Patel |
90,000 |
0.13 |
|
9 |
Ryan Rupen Patel |
90,000 |
0.13 |
|
10 |
Landview Constrution Private Limited |
47,750 |
0.07 |
|
11 |
Enpro Limited |
42,500 |
0.06 |
|
12 |
Janki Rupen Patel |
12,00,000 |
1.72 |
|
|
Total |
3,19,04,300 |
45.69 |
Shareholding
belonging to the category "Public" and holding more than 1% of the Total
No. of Shares
|
Sl. No. |
Name of the
Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
|
|
|
|
|
|
1 |
Patel Engineering Employees Welfare Trust |
6045000 |
8.66 |
|
2 |
Life Insurance Corporation of India |
2394881 |
3.43 |
|
3 |
Government of Singapore |
896187 |
1.28 |
|
4 |
Patel Dinesh G |
1363815 |
1.95 |
|
5 |
Reliance Capital Trustee Company Limited - Reliance Infrastructure Fund |
727395 |
1.04 |
|
6 |
Shanti Hirji Patel |
709000 |
1.02 |
|
7 |
Jayant V Patel |
762679 |
1.09 |
|
|
Total |
12898957 |
18.47 |
Shareholding
belonging to the category "Public" and holding more than 5% of the
Total No. of Shares
|
Sl. No. |
Name(s) of the
shareholder(s) and the Persons Acting in Concert (PAC) with them |
No. of Shares |
Shares as % of
Total No. of Shares |
|
|
|
|
|
|
1 |
Patel Engineering Employees Welfare Trust |
6045000 |
8.66 |
|
|
Total |
6045000 |
8.66 |
BUSINESS DETAILS
|
Line of Business : |
Construction of tunnels, dams, bridges, buildings, power stations, marine
works etc |
|
|
|
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
1310 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
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|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Vatsaraj and Company Chartered Accountants |
|
Address : |
Bharat House,104, Mumbai Samachar Marg, Fort, Mumbai - 400
001, Maharashtra, India |
|
PAN No.: |
AACFV7282K |
|
|
|
|
Related Parties : (As on 31.03.2012) |
|
|
|
|
|
Subsidiaries of
Patel Realty (India) Limited : (As on 31.03.2012) |
|
|
|
|
|
Subsidiaries of Patel
Energy Resources Limited : (As on 31.03.2012) |
|
|
|
|
|
Subsidiaries of ASI
Inc : (As on 31.03.2012) |
|
|
|
|
|
Subsidiaries of
Patel Engineering (Singapore) Pte Limited : (As on 31.03.2012) |
|
|
|
|
|
Subsidiaries of
Patel Engineering Inc : (As on 31.03.2012) |
|
|
|
|
|
Subsidiaries of
Patel Engineering (Mauritius) Limited : (As on 31.03.2012) |
|
|
|
|
|
Associates: (As on 31.03.2012) |
|
|
|
|
|
Others : (As on 31.03.2012) |
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
Rs. 1/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
69827151 |
Equity Shares |
Rs. 1/- each |
Rs.69.830
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
69.800 |
69.830 |
69.830 |
|
(b) Reserves & Surplus |
14512.600 |
14073.230 |
13269.800 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
14582.400 |
14143.060 |
13339.630 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
11401.200 |
7517.920 |
6743.030 |
|
(b) Deferred tax liabilities (Net) |
9.500 |
66.090 |
34.780 |
|
(c) Other long term
liabilities |
3729.700 |
4840.910 |
4600.750 |
|
(d) long-term
provisions |
41.800 |
14.560 |
18.100 |
|
Total Non-current
Liabilities (3) |
15182.200 |
12439.480 |
11396.660 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
13449.600 |
11341.500 |
11520.110 |
|
(b) Trade payables |
6260.100 |
6249.460 |
5282.470 |
|
(c) Other current
liabilities |
6121.800 |
5252.050 |
4190.280 |
|
(d) Short-term
provisions |
22.800 |
31.530 |
506.020 |
|
Total Current
Liabilities (4) |
25854.300 |
22874.540 |
21498.880 |
|
|
|
|
|
|
TOTAL |
55618.900 |
49457.080 |
46235.170 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2938.200 |
2517.840 |
2795.020 |
|
(ii) Intangible Assets |
33.800 |
50.040 |
1.700 |
|
(iii) Capital
work-in-progress |
183.600 |
1035.560 |
601.080 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
5711.700 |
5538.640 |
4800.480 |
|
(c) Deferred tax assets (net) |
8095.100 |
7468.830 |
6631.980 |
|
(d) Long-term Loan and Advances |
12.500 |
14.040 |
14.530 |
|
(e) Other
Non-current assets |
687.000 |
327.240 |
578.200 |
|
Total Non-Current
Assets |
17661.900 |
16952.190 |
15422.990 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
19145.100 |
14794.530 |
18070.360 |
|
(c) Trade receivables |
8008.600 |
8420.760 |
6425.140 |
|
(d) Cash and cash
equivalents |
1825.500 |
1503.350 |
1035.500 |
|
(e) Short-term loans
and advances |
8968.300 |
7692.240 |
5214.860 |
|
(f) Other current
assets |
9.500 |
94.010 |
66.320 |
|
Total Current Assets |
37957.000 |
32504.890 |
30812.180 |
|
|
|
|
|
|
TOTAL |
55618.900 |
49457.080 |
46235.170 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
25496.420 |
25372.050 |
|
|
|
Other Income |
|
938.330 |
805.210 |
|
|
|
TOTAL (A) |
|
26434.750 |
26177.260 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Construction |
|
20609.910 |
19861.460 |
|
|
|
Employee benefits expense |
|
681.000 |
751.730 |
|
|
|
Other expenses |
|
779.200 |
1083.230 |
|
|
|
TOTAL (B) |
|
22070.110 |
21696.420 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
4364.640 |
4480.840 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
|
2880.820 |
2597.930 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
1483.820 |
1882.910 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
528.210 |
527.760 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
955.610 |
1355.150 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
351.310 |
333.040 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
604.300 |
1022.110 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
3381.090 |
2800.140 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
75.000 |
150.000 |
|
|
|
Dividend |
|
20.950 |
69.830 |
|
|
|
Tax on Dividend |
|
3.400 |
11.330 |
|
|
|
Debenture Redemption Reserve |
|
285.000 |
210.000 |
|
|
BALANCE CARRIED
TO THE B/S |
|
3676.040 |
3381.090 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores Materials |
|
21.190 |
189.630 |
|
|
|
Components and Spare Parts |
|
0.000 |
2.250 |
|
|
|
Capital Goods |
|
17.830 |
106.850 |
|
|
TOTAL IMPORTS |
|
39.020 |
298.730 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
|
8.65 |
14.64 |
|
|
|
Diluted |
|
8.65 |
14.64 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA
|
2.29 |
3.90 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
3.75 |
5.34 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
2.70 |
3.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.07 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.70
|
1.33 |
1.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.47
|
1.42 |
1.43 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS:
Rs.
In Millions
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
Trade Payable |
6260.100 |
6249.400 |
5282.470 |
|
Total |
6260.100 |
6249.400 |
5282.470 |
|
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 two years |
Yes |
|
12] |
Profitability for last two 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 |
No |
|
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 |
|
LITIGATION DETAILS |
|||||
|
Bench:- Bombay |
|
||||
|
Stamp No:- |
FAST /464/2013 |
Failing Date:- |
11/02/2012 |
|
|
|
|
|||||
|
Petitioner:- |
NATIONAL INSURANCE COMPANY LIMITED |
Respondent:- |
M/S/ PATEL ENGINEERING LIMITED |
||
|
Petn.Adv:- |
MR. ATUL B. GATNE |
||||
|
District:- |
THANE |
||||
|
|
|||||
|
Bench:- |
Division |
|
|
||
|
Status:- |
Pre-Admission |
Stage:- |
|
||
|
Last Date:- |
18/02/2013 |
|
|||
|
Last Coram:- |
REGISTRAR (JUDICIAL) |
||||
|
|
|
||||
|
Act:- |
Motor Vehicles Act.1939 |
||||
UNSECURED LOAN
Rs.
In Millions
|
|
|
As
on 31.03.2012 |
|
LONG TE RM
BORROWINGS |
|
|
|
From Banks |
|
1009.010 |
|
SHORT TE RM
BORROWINGS |
|
|
|
From Bank |
|
2264.020 |
|
Commercial Papers - From Bank |
|
1950.500 |
|
Total |
|
5223.530 |
|
Unsecured Loans
-From Bank Includes Loans repayable over a period of 2-3 years carrying an Interest rate of 10% From Bank Includes Loans which are payable at yearly rests with an average Interest cost ranging between 8.50%- 10.25% p.a. Commercial Paper a) Includes Commercial Papers from Banks with a maturity period of 364 days with an average Interest rate ranging between 7.60% and 10.15 % p.a. b) Includes Commercial Paper from various Financial Institutions with a maturity period of 364 days with an average interest rate between 7.60% and 10.15 % p.a. c) Maximum amount outstanding for Commercial papers during the year was Rs. 2,957.200 Millions. |
||
FIXED ASSETS:
- Land
- Building
- Factory building
- Machinery
- Motor car
- Motor truck
- Ship
- Furniture
- Office equipment
- Computer/Software
- Electric equipment
- Motor cycle
- Rails and Trolly
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.59.85 |
|
|
1 |
Rs.92.31 |
|
Euro |
1 |
Rs.78.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
53 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.