MIRA INFORM REPORT
|
Report Date : |
19.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
SADBHAV ENGINEERING LIMITED |
|
|
|
|
Registered
Office : |
Sadbhav House, Opposite-Law Garden Police Chowki,
Ellisbridge, Ahmedabad – 380006, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
03.10.1988 |
|
|
|
|
Com. Reg. No.: |
04-011322 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.150.368 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L45400GJ1988PLC011322 |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Shares are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Construction Activity. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
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 30000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
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Litigation : |
Exits |
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|
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|
Comments : |
Subject is a well established company having a fine track record. The
financial strength and performance capability of the company appears to be good.
Trade relations are reported as decent. Business is active. Payment terms are
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 |
CARE |
|
Rating |
A+ (Long Term Bank Facilities) |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
February 26, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A1+ (Short Term Bank Facilities) |
|
Rating Explanation |
Very string degree of safety and lowest
credit risk |
|
Date |
February 26, 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
MANAGEMENT NON CO-OPERATIVE
(91-79-26463384)
LOCATIONS
|
Registered Office / Head Office : |
Sadbhav House, Opposite-Law Garden Police Chowki,
Ellisbridge, Ahmedabad – 380006, Gujarat, India |
|
Tel. No.: |
91-79-26463384 |
|
Fax No.: |
91-79-26400210 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Village Ognaj, Taluka: Daskroi, District: Ahmedabad, Gujarat, India |
|
|
|
|
Branch Office : |
602/702, C wing, Godrej Coliseum, behind Everard Nagar, Sion
(East),Mumbai-400022, India. |
|
Tel. No.: |
91-22-24095887 |
|
Fax No.: |
91-22-24096883 |
DIRECTORS
As on: 31.03.2012
|
Name : |
Mr. Vishnubhai M. Patel |
|
Designation : |
Chairman and Managing Director |
|
Date of Birth : |
71 Years |
|
Qualification : |
S.S.C. |
|
|
|
|
Name : |
Mr. Shashin V. Patel |
|
Designation : |
Joint Managing Director |
|
Date of Birth : |
31 Years |
|
Qualification : |
MBA |
|
|
|
|
Name : |
Mr. Girish N. Patel |
|
Designation : |
Director |
|
Date of Birth : |
09.01.1962 |
|
Qualification : |
B. Com |
|
Date of Appointment
: |
01.08.1994 |
|
|
|
|
Name : |
Mr. Nitin R. Patel |
|
Designation : |
Director |
|
Date of Birth : |
43 Years |
|
Qualification : |
CA |
|
|
|
|
Name : |
Mr. Pravinkumar M. Ganatra |
|
Designation : |
Director |
|
Date of Birth : |
13.03.1944 |
|
Qualification : |
B.E. (Civil) |
|
Date of Appointment
: |
08.04.2002 |
|
|
|
|
Name : |
Mr. Amarsinh J. Vaghela |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Sandip V. Patel |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Atul N. Ruparel |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Vikramkumar R. Patel |
|
Designation : |
Director (w.e.f. 20-08-2012) |
|
|
|
|
Name : |
Mr. Vasistha C. Patel |
|
Designation : |
Director (w.e.f. 20-08-2012) |
KEY EXECUTIVES
|
BOARD COMMITTEES |
|
|
Name : |
Mr. Sandip V. Patel |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Pravinkumar M. Ganatra |
|
Designation : |
Member |
|
|
|
|
Name : |
Mr. Amarsinh J. Vaghela |
|
Designation : |
Member |
|
|
|
|
REMUNERATION COMMITTEE |
|
|
Name : |
Mr. Atul N. Ruparel |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Pravinkumar M. Ganatra |
|
Designation : |
Member |
|
|
|
|
Name : |
Mr. Sandip V. Patel |
|
Designation : |
Member |
|
|
|
|
SHAREHOLDERS/INVESTOR GRIEVANCE COMMITTEE |
|
|
Name : |
Mr. Amarsinh J. Vaghela |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Sandip V. Patel |
|
Designation : |
Member |
|
|
|
|
Name : |
Mr. Girish N. Patel |
|
Designation : |
Member |
|
|
|
|
FINANCE COMMITTEE : |
|
|
Name : |
Mr. Vishnubhai M. Patel |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Shashin V. Patel |
|
Designation : |
Member |
|
|
|
|
Name : |
Mr. Nitin R. Patel |
|
Designation : |
Member |
|
|
|
|
Name : |
Mr. Atul N. Ruparel |
|
Designation : |
Member |
|
|
|
|
Name : |
Mr. Vijay Kalyani |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2012
|
Category of
Shareholder |
Total
No. of Shares |
%
of Total No. of Shares |
|
|
|
|
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
50786765 |
33.65 |
|
|
16545275 |
10.96 |
|
|
3993840 |
2.65 |
|
|
3993840 |
2.65 |
|
|
71325880 |
47.26 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
71325880 |
47.26 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
34405953 |
22.80 |
|
|
304809 |
0.20 |
|
|
29771276 |
19.73 |
|
|
64482038 |
42.72 |
|
|
|
|
|
|
11089482 |
7.35 |
|
|
|
|
|
|
3717607 |
2.46 |
|
|
115450 |
0.08 |
|
|
198343 |
0.13 |
|
|
73906 |
0.05 |
|
|
124437 |
0.08 |
|
|
15120882 |
10.02 |
|
Total Public
shareholding (B) |
79602920 |
52.74 |
|
Total (A)+(B) |
150928800 |
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) |
150928800 |
0.00 |
|
Total
|
|
|
BUSINESS DETAILS
|
Line of Business : |
Construction Activity |
GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
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|
|
|
Banking
Relations : |
-- |
|
|
|
|
Statutory Auditors
: |
|
|
Name : |
Shashikant Patel Associates Chartered Accountants |
|
|
|
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Subsidiaries and
Fellow Subsidiaries: |
|
|
|
|
|
Associate Companies
: |
|
|
|
|
|
Joint Ventures: |
|
|
|
|
|
Enterprises owned
or significantly influenced by key management personnel or their relatives : |
|
CAPITAL STRUCTURE
After 29.09.2012
Authorised Capital : Rs.200.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.150.929 Millions
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000000 |
Equity Shares |
Rs.1/- each |
Rs.200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150367800 |
Equity Shares |
Rs.1/- each |
Rs.150.368 Millions |
|
|
|
|
|
(a) Reconciliation of
Nos. of Shares:
|
|
As on: 31.03.2012 |
|
|
No of Shares |
|
Outstanding at the beginning of the year |
149875800 |
|
Addition during the year |
492000 |
|
Outstanding at the end of the year |
150367800 |
(b) Rights of Shareholders
and Repayment of Capital:
(i) The Company has only one class of shares referred to as equity shares having a par value of Re. 1/-.
(ii) Each holder of equity shares is entitled to one vote per share.
(iii) In the event of liquidation of the Company, the holders of equity shares shall be entitled to receive any of the remaining assets of the Company, after distribution of all preferential amounts. The amount distributed will be in proportion to the number of equity shares held by the shareholders.
(c) Shares held by
each share holder holding more than 5% Equity shares of the company
|
|
As on:
31.03.2012 |
|
|
Name |
No of Shares |
% of Holding |
|
Vishnubhai M. Patel |
10763570 |
7.16% |
|
Shantaben V. Patel |
14715375 |
9.79% |
|
Sadbhav Finstock Private Limited |
16545275 |
11% |
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 |
150.368 |
149.876 |
125.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
7472.696 |
6107.583 |
3790.130 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
7623.064 |
6257.459 |
3915.130 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3129.680 |
2806.155 |
2736.803 |
|
|
2] Unsecured Loans |
898.393 |
801.826 |
1501.910 |
|
|
TOTAL BORROWING |
4028.073 |
3607.981 |
4238.713 |
|
|
DEFERRED TAX LIABILITIES |
234.531 |
160.699 |
140.798 |
|
|
|
|
|
|
|
|
TOTAL |
11885.668 |
10026.139 |
8294.641 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2880.698 |
2297.563 |
2100.911 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
3322.750 |
3271.261 |
1441.287 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
883.933
|
692.082 |
539.908 |
|
|
Sundry Debtors |
7910.812
|
6868.871 |
4407.784 |
|
|
Cash & Bank Balances |
563.381
|
845.817 |
448.347 |
|
|
Other Current Assets |
179.117
|
192.336 |
28.194 |
|
|
Loans & Advances |
5653.404
|
5746.246 |
5234.893 |
|
Total
Current Assets |
15190.647
|
14345.352 |
10659.126 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1873.593
|
1626.432 |
|
|
|
Other Current Liabilities |
5760.582
|
6995.787 |
|
|
|
Provisions |
1874.252
|
1265.818 |
629.996 |
|
Total
Current Liabilities |
9508.427
|
9888.037 |
5906.683 |
|
|
Net Current Assets |
5682.220
|
4457.315 |
4752.443 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
11885.668 |
10026.139 |
8294.641 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
26755.491 |
22094.012 |
12569.262 |
|
|
|
Other Income |
108.206 |
190.342 |
166.497 |
|
|
|
TOTAL (A) |
26863.697 |
22284.354 |
12735.759 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
3296.641 |
1602.614 |
|
|
|
|
Construction Expenses |
19163.288 |
17064.894 |
|
|
|
|
Employee Benefits Expense |
400.231 |
336.309 |
|
|
|
|
Other Expenses |
992.501 |
713.103 |
|
|
|
|
TOTAL (B) |
23852.661 |
19716.920 |
11192.744 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3011.036 |
2567.434 |
1543.015 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
651.119 |
541.465 |
330.862 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2359.917 |
2025.969 |
1212.153 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
274.390 |
268.583 |
232.521 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2085.527 |
1757.386 |
979.632 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
679.911 |
561.531 |
441.209 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1405.616 |
1195.855 |
538.423 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2636.610 |
1725.615 |
1370.496 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
140.000 |
120.000 |
65.000 |
|
|
|
Transfer to Debenture Redemption Reserve |
60.000 |
60.000 |
60.000 |
|
|
|
Dividend |
90.200 |
89.925 |
50.000 |
|
|
|
Tax on Dividend |
14.600 |
14.935 |
8.304 |
|
|
BALANCE CARRIED
TO THE B/S |
3737.426 |
2636.610 |
1725.615 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.550 |
0.000 |
0.000 |
|
|
|
Capital Goods |
119.973 |
76.416 |
4.297 |
|
|
TOTAL IMPORTS |
120.523 |
76.416 |
4.297 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
9.36 |
8.50 |
4.21 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2012 |
30.09.2012 |
30.12.2012 |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
4214.900 |
3345.400 |
3534.200 |
|
Total Expenditure |
3824.000 |
3031.300 |
3203.200 |
|
PBIDT |
390.900 |
314.100 |
331.000 |
|
Other Income |
28.400` |
25.000 |
16.700 |
|
Operating Profit |
419.300 |
339.100 |
347.700 |
|
Interest |
170.200 |
175.200 |
205.200 |
|
Exceptional Items |
609.300 |
00.100 |
0.000 |
|
PBIDT |
858.400 |
164.000 |
142.500 |
|
Depreciation |
78.100 |
76.100 |
85.000 |
|
Profit Before Tax |
780.300 |
87.900 |
57.500 |
|
Tax |
256.300 |
24.000 |
20.200 |
|
Provision and contingent |
0.000 |
0.000 |
0.000 |
|
Profit after tax |
524.000 |
63.900 |
37.300 |
|
Extraordinary items |
0.000 |
0.000 |
0.000 |
|
Prior Period expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustment |
0.000 |
0.000 |
0.000 |
|
Net Profit |
524.000 |
63.900 |
37.300 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
5.23 |
5.37 |
4.23 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.79 |
7.95 |
7.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.54 |
10.56 |
7.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.28 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.53 |
0.58 |
1.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.60 |
1.45 |
1.80 |
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 |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
|
LITIGATION DETAILS |
|
HIGH COURT OF GUJARAT |
|
TAX APPEAL No. 2644 of 2010 |
|
|
|
|
|
Status : PENDING |
( Converted from : ST/3448/2010 ) |
CCIN No : 001092201002644 |
|
|
|||||
|
|
||||
|
|
||||
|
S.NO. |
Name of the
Petitioner |
Advocate On Record |
|
1 |
COMMISSIONER OF INCOME TAX-IV |
MS PAURAMI B SHETH for: Appellant(s) |
|
S.NO. |
Name of the
Respondant |
Advocate On Record |
|
1 |
SADBHAV ENGINEERING LTD |
RULE UNSERVED for :Opponent(s) |
|
|
|||
|
Presented On |
: 08/12/2010 |
Registered On |
: 08/12/2010 |
|
Bench Category |
: DIVISION BENCH |
District |
: AHMEDABAD |
|
Case Originated From |
: THROUGH ADVOCATE |
Listed |
: 1 times |
|
StageName |
: FOR ADMISSION ON SPECIAL BOARD |
||
|
Classification |
DB - OJ - TAX APPEAL - INCOME TAX ACT, 1961 - APPEAL TO HIGH COURT - U/S 260 OF IT ACT - LONG TERM CAPITAL GAIN - U/S 54EA |
|
Act |
INCOME-TAX ACT, 1961 |
|
Office Details |
|
S. No. |
Filing Date |
Document Name |
Advocate Name |
Court Fee on
Document |
Document Details |
|
1 |
27/12/2010 |
CERTIFIED COPY |
MRS MAUNA M BHATT ADVOCATE |
6 |
- |
|
Court Proceedings |
|||||
|
S. No. |
Notified Date |
CourtCode |
Board Sr. No. |
Stage |
Action |
Coram |
|
1 |
24/12/2010 |
10 |
- |
OFFICE OBJECTION (FILING STAGE) |
NEXT DATE |
REGISTRAR ( JUDICIAL) |
|
2 |
14/06/2011 |
10 |
- |
FOR ADMISSION ON SPECIAL BOARD |
FIXED RULE / ADMIT |
HONOURABLE MR.JUSTICE AKIL KURESHI HONOURABLE MS JUSTICE SONIA GOKANI |
|
Available Orders |
||||||
|
S. No. |
Case Details |
Judge Name |
Order Date |
CAV |
Judgement |
View |
Download |
|
1 |
TAX APPEAL/2644/2010 |
HONOURABLE MR.JUSTICE AKIL KURESHI HONOURABLE MS JUSTICE SONIA GOKANI |
14/06/2011 |
N |
N |
View |
Download |
|
Certified Copy |
|||||||
|
S. No. |
ApplicantName |
ApplicationType |
Application Date |
UOL Number |
Order Date |
Notify Date |
Delivery Date |
Status |
Nature Of Document |
|
1 |
MRS MAUNA M BHATT |
ORDINARY |
15/06/2011 |
O/20874/2011 |
14/06/2011 |
12/07/2011 |
13/07/2011 |
Delivered |
- |
MANAGEMENT DISCUSSION
AND ANALYSIS
Economic Scenario
FY 2011 began on apromising note as the Indian economy sustained its outstanding flexibility to the lingering effects of the global recession in 2008-2009. With a projected growth of 8.5%, the saga of Indian growth continued to outdo most other economies. The developed economies are only now beginning to turn around and demonstrate recovery. This performance was partly due to a consistent contribution from the services sector but largely driven by a “rebound in agriculture and continued momentum in manufacturing.” (State of the Economy and Prospects. Chapter 1. p.1)
However, higher interest rates and the disconcertingly high levels of inflation at the beginning of 2011 threatened to severely hamper the GDP growth. While a large part of the effects were contained by “the sequenced and gradual withdrawal of monetary accommodation.” (State of the Economy and Prospects. Chapter 1. p.10) inflation still remains an area of concern for policymakers. The Union Budget 2011 underlined the Government’s efforts to manage the fiscal deficit and it is expected that these actions “will sustain a faster deleveraging of government debt than originally forecast and is credit positive for the Indian government.” (Moody’s Weekly Credit Outlook. 7 March 2011. p.34)
INDUSTRY SYNOPSIS
Despite a healthy 8.5 per cent growth during the year, inflation index has shown an upward growth, in their country, due many domestic and foreign aspects. The major crisis is the inflation in day to day commodities like grains, vegetables etc. This can be minimised with state-of-the-art infrastructure. The emphasis on, private sector participation, in infrastructure building, positions us in a profitable situation.In the last union budget the Government increased allocations for the various sub-programmes under Bharat Nirmaan are likely to boost development of rural infrastructure and lead to long-term solutions in the supply-chain management of agricultural produce.
Unfortunately, the economic slowdown has been in an inflationary environment, where the Reserve Bank of India (RBI) has maintained tight monetary policy leading to high domestic interest rates. The reverse repo rate, which benchmarks the commercial bank’s lending rates increased from 5.75% in April 2011 to 7.5% in March 2012. A year back in April 2010 it was only 3.5%. This environment of slowing growth, high inflation and high interest rates was a complete dampener for investor confidence and new capital formation took a further hit.
OUTLOOK
The Infrastructure and Construction industries together are the second largest contributor to GDP growth in the country. With nearly 1 trillion USD of investments, during the Twelfth Five Year Plan (2012-17), 76% intensity of construction component is allocated to roads, 65% to bridges and 75% to dam, a considerable increase of growth is foreseen in their business.
The Company is currently executing a large number of projects and has built a healthy order book. They shall continue to focus on their core sectors of transportation, irrigation and mining operations ensuring quality execution.
Sadbhav also aims to look at the growing opportunities in infrastructure development like ports, pipelines and airports where they can leverage their skills and equipment.
BUSINESS OVERVIEW
The total income from operations during the year under review was Rs. 26755.500 Millions against Rs. 22094.000 Millions for the previous year recording the growth of 21.10%. Operating profit (PBDIT) for the current year is Rs. 3011.000 Millions (Rs. 2567.400 Millions in previous year) thereby recording the growth of 17.28%. Net profit after Tax Expenses amounted to Rs. 1405.600 Millions (Rs. 1195.900 Millions in previous year) thereby recording growth of 17.53 %.
NEW CONTRACTS /
PROJECTS
The Company has been awarded following new contracts/projects during the year and up to the date of this report.
Transport Sector
1. Improvement/Upgradation of Mohammadpur-Rajapatti-Mashrakh-Khaira-Chhapra Road (SH-90) Length-64.71 Km. Contract Package No. 3 of Bihar State Highway Project-II for contract price of Rs. 2018.200 Millions in joint venture with GKC Projects Limited- Hyderabad. Company is leading the joint venture with 50% participation share i.e. for Rs. 1009.100 Millions of which work amounting to Rs. 54.400 Millions has been completed.
2. Work of Construction of Rigid Pavement Four Lane Main Trunk Roads including construction of box culverts and Street Light with Foot-Path work in Sanand-II (BOL) Industrial Estate with five years free maintenance guarantee period by the Executive Engineer, GIDC, ahmedabad for estimated cost of Rs. 1268.200 Millions
3. Design, Build, Contract on lump sum basis for construction of terminal facilities for passenger water transport along west coast of Mumbai at Marve and Borivali (Package WWT-3) by Maharastra State Road Development Corporation (MSRDC) Mumbai for contract price of Rs. 3190.000 Millions in Joint venture with Hindustan Construction Company Limited-Mumbai. Company is leading the joint venture with more than 51% participation share.
4. Contract CC-25: Construction of boundary wall, box, culvert and land development of Mukundpur depot on Mukundpur-Yamuna Vihar corridor (line-7) of phase-III Delhi MRTS by Delhi Metro Rail Corporation Limited for conract price of Rs. 335.500 Millions.
Irrigation Sector
1. Work of Excavation and Cement concerting lining of Baitarani Left Bank Canal from RD 0.00 km to RD 9.00 km including construction of structures and Services Road for contract price of Rs. 792.400 Millions by the Chief Construction Engineer, Anandapur Barrage Project, Salapada, Odisha.
Mining Sector
1. Hiring of HEMM for removal of OB, extraction and transportation of coal from VIII, V/VI (Top), V/VI IV(Bot), IV (Top), IV (Bot) III, II (T+M), II (T) and II (Midi) seams of Patch ‘Q’ part Patch ‘N” and part Patch ’P” of Gondudin Colliery of Kusnda Area. The total quantity for the removal of over burden (OB) is 368.24 LCM and extraction of coal is 54.21 LMT. The project was awarded by Bharat Coking Coal Limited (A Subsidiary of Coal India Limited) for contact price of Rs. 3253.200 Millions.
NEW BOT PROJECTS
The company has been awarded following new BOT projects during the year and up to the date of this report.
Gomati Chauraha -
Udaipur Road Project
# A toll based BOT
road project
The project consists of Four Laning of Gomati Chauraha - Udaipur section of NH-8 (from Km 177/000 to Km 260/100) in the state of Rajasthan under NHDP Phase IV on Design, Build, Finance, Operate and Transfer (toll) basis. Shreenathji-Udaipur Tollway Private Limited has been incorporated as special purpose vehicle to implement this project. The cost of project is estimated to Rs. 1239 of which EPC contract amounts to Rs. 9750.000 Millions. The entire EPC contract will be executed by the company. The Concession Period of the project is 27 (Twenty Seven) years from Appointed Date. The financial closure of the project is in progress.
Solapur - Bijapur
Road Project
# A toll based BOT
road project
The project consists of FourLaning of Solapur-Bijapur section of NH-13 from km. 0.00 to km. 110.542 to be executed as BOT (Toll) basis on DBFOT Pattern under NHDP Phase III. Solapur-Bijapur Tollway Private Limited has been incorporated as special purpose vehicle to implement this project. The cost of the project is estimated to Rs. 12442.700 Millions of which EPC contract amounts to Rs. 9990.000 Millions. The entire EPC contract will be executed by the company. The Concession Period of the project is 20 (Twenty) years from Appointed Date. The financial closure of the project is in progress.
Joint Ventures
The Company has the following joint ventures –
SEL- GKC Joint Venture:
Over and above the Road as mentioned above, Company is executing following projects in Joint Venture with GKC Project Limited
1. Earth work excavation, forming embankment and construction of CD and CM works of main canal and distributory system upto water course level and CC lining to main canal and other allied works including investigation, designing and estimation of Gouravelly right side canal from km 0.000 to 47.725 and left side canal in Karimnagar District. The cost of the project is Rs. 1668.800 Millions of which company’s share is 52 % i.e. Rs. 867.800 Millions of which work amounting to Rs. 441.900 Millions has been completed.
2. Investigation, design and execution of Canal Network System including Earth work Excavation and Forming Embankment, Construction of CM and CD Works and lining of canals up to sub minors and formation of Field Channels including Structures to serve an ayacut of 58800 Acres in Karimnagar Dist under Kodlmial, Potharam Surampet Lachupet and New tanks at +450 and its Concerned Gravity Canals (Canal Network Package III). The cost of project is Rs. 993.100 Millions of which company’s share is 52% i.e. Rs. 516.400 Millions of which work amounting to Rs. 212.900 Millions has been completed.
3. Investigation, Survey, Design and Construction of Bus Rapid Transit System (BRTS) corridor from Pendurthi to DRM office (PTC Corridor) via NAD Jn, Kancharapalem, Railway Station with 2 years defect liability period under EPC(Design and Build) system. The cost of project is Rs. 1655.400 Millions of which company’s share is 50% i.e. Rs. 827.700 Millions of which work amounting to Rs. 513.100 Millions has been completed.
4. Improvement/Upgradation Strengthening/Widening of Govindpur-Sahibganj State Road Project (Govindpur-Jamtara Contract Package No. I) by Road construction Department, Govt. of Jharkhand. The cost of the project is Rs. 2299.100 Millions of which company’s share is 50% i.e. Rs. 1149.500 Millions of which work amounting to Rs. 202.100 Millions has been completed.
5. Execution of Omkareshwar Right Bank Lift Canal including its distribution network up 40 Ha. Chak for culturable command areas (CCA) of about 29947 Ha. on “Turn Key”basis from RD 51.281 to 125.00 Km (excluding V.R.B. at RD 51.281 Km Wasvi-Sirsodia Road) by Narmada Development Division 20, M.P. The cost of the project is Rs. 3493.000 Millions of which Company’s share is 60% i.e. 2095.800 Millions of which work amounting to Rs. 142.800 Millions has been completed.
6. Execution of Omkareshwar Right Bank Lift Canal including its distribution network up 40 Ha. Chak for culturable command areas (CCA) of about 28073 Ha.on “Turn Key”basis from RD 0.00 Km to 51.281.Km (including V.R.B. at RD 51.281 Km Wasvi-Sirsodia Road) by Narmada Development Division 20, M.P. The cost of the project is Rs. 5199.300 Millions of which company’s share is 40% i.e. 2079.700 Millions of which work amounting to Rs. 498.700 Millions has been completed.
7. Work of EPC contract for construction of Radhanpur Sub Branch Canal, Manpura Sub Branch Canal, Distributaries and Minors of Radhanpur Branch Canal, RSBC and MSBC (Earthwork, lining, Structures, Service Road, CR/Escape/HR, Gates, Stop logs, Control Cabin) including Geo Tech investigation, Design of structures and Operation and maintenance for the same for five (5) years. The cost of the project is Rs. 23.620 Millions of which company’s share is 52% i.e. 122.82.
8. Blast hole drilling, controlled blasting with shock tube initiation (Nonels), excavation, loading, transportation, dumping, spreading and leveling etc., of 436.50 LBCM over burden, at Manugur OC-II Extension (Phase-II) project by the Singareni Collieries Company Limited. The cost of the project is Rs. 182.50 Millions of which company’s share is 51% i.e. 93.07 of which work amounting to Rs. 471.000 Millions has been completed.
Wind Power Project :
During the year, in furtherance of Wind Power Project, the company has successfully commissioned a 7.2 MW WIND FARM at Village Vandhiya, Taluka :Bhachau, District : Kutch in the State of Gujarat at cost of Rs. 508.500 Millions. The generated power is fully sold to Gujarat Urja Vikas Nigam Limited (GUVNL) as per the terms of Power Purchase Agreement entered by the company with GUVNL.
Award and Recognition
:
During the year, the company has been awarded the prestigious “Most Admired Deveoper - Transport Sector Award” at the 4th Infrastructure Today Awards 2011 in association with KPMG in India. The said coveted award was received from Mr. Montek Singh Aluwhalia on December 09, 2011 in New Delhi.
Corporate
Information:
The Company, Sadbhav Engineering Limited is engaged in the business of development of infrastructure facilities in areas of canals, irrigation projects, roads, bridges, dams which include civil, electrical and mechanical contractor, designer and engineers, structural contractor, earthwork contractor for repairing, reconstruction, renovation, demolitions and construction of canals, irrigation projects, roads, bridges, dams. Company also establish, maintain, operate, lease or transfer the above infrastructure facilities on BOT, BOLT and BOOT basis. Company is also engaged in mining activities on contract basis and business of energy generation through Wind Power Project.
UNAUDITED FINANCIAL
RESULTS (STANDALONE) FOR THE QUARTER ENDED 31ST DECEMBER, 2012
(Rs. In Millions)
|
|
|
Quarter ended |
Quarter ended |
Nine months ended |
|
Sr. No. |
Particulars |
31.12.2012 |
30.09.2012 |
31.12.2012 |
|
|
Income from operations (Net of excise duty) |
3534.186 |
3345.377 |
11094.507 |
|
I |
Total Income from operations
(net) |
3534.186 |
3345.377 |
11094.507 |
|
|
Construction Expenses |
2867.237 |
2773.041 |
9171.051 |
|
|
Changes in inventories of Finished Goods, Work in Progress & Stock in trade |
0.000 |
0.000 |
0.000 |
|
|
Employee benefits expense |
100.304 |
113.609 |
301.290 |
|
|
Depreciation and amortization expense |
85.027 |
76.131 |
239.268 |
|
|
Other expenses |
235.692 |
144.653 |
586.228 |
|
2 |
Total Expenditure |
3288.260 |
3107.434 |
10297.837 |
|
3 |
Profit from Operation
before other Income, finance costs and exceptional Items(l-2) |
245.926 |
237.943 |
796.670 |
|
4 |
Other income |
16.740 |
24.997 |
70.139 |
|
5 |
Profit from
ordinary activities before finance costs and Exceptional Items (3+4) |
262.666 |
262.940 |
866.809 |
|
6 |
Finance costs |
205.200 |
175.171 |
550.572 |
|
7 |
Profit/(Loss) from
ordinary activities after finance costs but before exceptional Items (5-6) |
57.466 |
87.769 |
316.237 |
|
8 |
Exceptional Items - Net (refer Note No. 5) |
0.000 |
0.098 |
609.398 |
|
9 |
Profit/(Loss) from
Ordinary Activities before tax (7+8) |
57.466 |
87.867 |
925.635 |
|
10 |
Tax Expense |
20.211 |
23.987 |
300.513 |
|
11 |
Short/( Excess) provision for taxation of earlier year |
0.000 |
0.000 |
0.000 |
|
12 |
Net Profit/(Loss)
from Ordinary Activities after tax(9-10-ll) |
37.255 |
63.8.80 |
625.122 |
|
13 |
Extraordinary Item ( Net of tax expenses Rs. ) |
0.000 |
0.000 |
0.000 |
|
14 |
Net Profit/(I.oss)
for the period ( 12-13) |
37.255 |
63.880 |
625.122 |
|
15 |
Paid up Equity share Capital (face value of Re, 1 each) |
150.929 |
150.398 |
150.929 |
|
16 |
Reserve excluding revaluation reserve as per Balance sheet of previous accounting period |
- |
- |
- |
|
17 |
Weighted average Number of Equity Shares |
150901249 |
150398300 |
150794386 |
|
I8 |
Weighted average Number of Dilutive Equity Shares |
151667034 |
151515181 |
151554591 |
|
19 |
Basic EPS (Rs.) before extra ordinary items |
0.25 |
0.42 |
4.15 |
|
20 |
Diluted EPS (Rs.) before extra ordinary items |
0.25 |
0.42 |
4.12 |
|
21 |
Basic and Diluted
EPS after extra ordinary Items. |
|
- |
- |
|
A |
Particulars of
Shareholding |
|
|
|
|
|
Public Shareholding |
|
|
|
|
|
Number of Shares |
79602920 |
79072420 |
79602920 |
|
|
Percentage of shareholding |
52.74 |
52.58 |
52.74 |
|
2 |
Promoters and
promoter group shareholding a) Pledged/ Encumbered |
|
|
|
|
|
- Number of Shares |
Nil |
Nil |
Nil |
|
|
- Percentage of shares ( as a % of the total share holding of promoter and promoter group) |
Nil |
Nil |
Nil |
|
|
- Percentage of shares ( as a % of the total share capital of company) |
Nil |
Nil |
Nil |
|
|
b) Non -encumbered |
|
|
|
|
|
- Number of Shares |
71325880 |
71325880 |
71325880 |
|
|
- Percentage of shares ( as a % of the total share holding of promoter and promoter group) |
100.00 |
100.00 |
100.00 |
|
|
|
|
|
|
|
|
- Percentage of shares ( as a % of the total share capital of company) |
47.26 |
47.42 |
47.26 |
|
B |
Investors Complaints |
Quarter ended
31.12.2012 |
|
|
Pending at the beginning of the quarter |
0 |
|
|
Received during the quarter |
1 |
|
|
Disposed of during the quarter |
0 |
|
|
Remaining unresolved at the end of the quarter |
1 |
Notes:
- The above results were reviewed by the Audit Committee and were approved and taken on record by the Board of Directors at their meeting held on February 11, 2013.
- Limited review as required under Clause 41 of the Listing Agreement has been carried out by the Statutory Auditors of the Company.
- The figures have been regrouped and/or rearranged wherever considered necessary.
- Tax Expense includes provision*for current tax and deferred tax.
- Exceptional Item pertain to the Performance Bonus (net of expenditure) received on early execution of work contract.
- During the quarter company has issued and allotted 530500 equity shares of Rs.1 each to its employees at price of Rs.50/- Per Equity share under ESOS Scheme 2008 15th October 2012.
FIXED ASSETS:
Tangibles Assets
- Land Free Hold
- Building
- Furniture
- Office Equipments
- Machineries
- Vehicles
- Wind Mills
Intangibles Assets
- Computer Software
PRESS RELEASE
RAJASTHAN, MAHA PROJECTS TO GENERATE REV BY FY16: SADBHAV
MARCH 08, 2013
Sadbhav Engineering expects to complete its projects in
Maharashtra and Rajasthan, worth nearly Rs 2,000 crore each, in next thirty
months. Both these projects were affected due to environmental clearances.
Nitin Patel, ED, talking to CNBC-TV 18, says that the Rajasthan project will
get clearance by the second or third week of March, and the Maharashtra project
by the end of April. He expects revenue to start rolling in after 30 months,
which will roughly be in fiscal year 2016.
The company has also bagged
a third project from Rajsamand-Bhilwara. Patel says clearance for the company's
Karnataka project is expected by the end of April.
Here is the verbatim
transcript of the interview
Q: A couple of environmental clearances that has been pending for
sometime now. Can you give us a status on the Rajasthan project?
A: We have already got
environmental clearance for Shreenathji-Udaipur, and we expect that National
Highway Authority of India (NHAI) will issue the appointed date by the second
or third week of this month. But Solapur-Bijapuris is yet to get clearance, the
scheduled date for which was November 28. We expect that it should get
clearance by end of April.
Q: There are no forest clearances issues with the Rajasthan project?
A: The clearance is through
for the Rajasthan project. We have got clearance from the environmental
ministry also. The environmental ministry will give clearance only after forest
clearance is procured.
Q: From what you are saying, by April end, both Rajathan as well as
Maharashtra will get a requisite clearance. How soon will these projects come
on stream?
A: The Rajasthan project
will get clearance by the second or third week of March, and the Maharashtra
project by the end of April. We will get the benefit of that project in FY14.
Q: What would be the benefit?
A: I mean we will see
execution. As both projects are worth nearly Rs 2,000 crore each, so execution
will definitely improve the company’s top-line.
Q: If you start construction now, when do you expect it to get over? Is
it a build, operate, transfer (BOT) project? Will you start earning money when
operations commence, or are you only a contractor?
A: We have to do the
engineering, procurement and construction (EPC) work as of now. Thirty months
is the period for completing construction of both projects. Only then will we
be able to start earning revenues in the same.
Q: Will you earn revenues or only contracting fee?
A: We will get the revenue
post construction, because Sadbhav Infrastructure Project Ltd is the 100 percent
owner of both the projects. We are the developers as well as EPC contractor for
both.
Q: Is it on a BOT term?
A: Yes, it is on BOT basis.
Q: What are you expecting the revenue rate at all to be after thirty
months, which will largely be FY15?
A: In FY16-FY17, we should
start getting revenues from both the projects. We are quite hopeful that both
projects will generate good revenues because of the high commercial traffic
carrying terrain.
Q: What are the margins you are making on these projects from a
contracting-construction point of view? Will the margins suffer because you
took some time to get clearance?
A: We make 12 to 13 percent
at the EBITDA level in the construction phase, and normally around 16 to 18
percent during the operation phase from an investment angle.
Q: Which other projects are you bidding for?
A: We have won our third
project, which is from Rajsamand-Bhilwara. That is also a NHAI project with a
30-year concession. We expect that financial closure will happen by the end of
this month, and construction will start by the end of April. The fourth is a Karnataka state government
annuity project. We are already the lowest bidder of the same, and are awaiting
the letter of intent (LoI) for the project. Both projects cost around Rs 720 to
Rs 730 crore each.
Q: When are you expecting the LOI on the Karnataka project?
A: The clearance has not
yet happened, but we expect it by the end of April.
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.54.29 |
|
|
1 |
Rs.81.94 |
|
Euro |
1 |
Rs.70.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BSN / VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
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 |
|
60 |
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.