MIRA
INFORM REPORT
|
Report Date : |
21.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
FOURESS ENGINEERING ( |
|
|
|
|
Formerly Known
As : |
FOURESS ENGINEERING (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Mahalaxmi Chambers, 8th Floor, 22, Bhulabhai Desai Road,
Mumbai – 400026, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
25.06.1971 |
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|
|
|
Com. Reg. No.: |
11-015196 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 75.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74210MH1971PLC015196 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMF00095E |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACF5897K |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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|
Line of Business
: |
Manufacturer and Exporter of Industrial Valve. |
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|
|
|
No. of Employees
: |
1500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1090000 |
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|
|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Management has failed to file latest financials of 2013 with
government department. As per financial of 2012, there appears some dip profitability of the company.
However, networth appears to be satisfactory. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. Note: Latest financial of 3013 is not available with us. |
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) |
|
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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says the
latest India Development Update report released by the World Bank. The report
says that the adverse effects of rupee depreciation are likely to be offset by
the gains in the exports performance due to improved external competitiveness.
Since May this year, the local currency has depreciated substantially and fell
to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue before
the end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c
(Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been
launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
FITCH |
|
Rating |
BBB+ (Long Term Rating) |
|
Rating Explanation |
Indicate that expectation of default risk
are currently low. The capacity for payment of financial commitment is
considered adequate but adverse business or economic condition are more
likely to impair this capacity |
|
Date |
October 2011 |
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 PARTED BY
|
Name : |
Mr. Ravi Rajeev |
|
Designation : |
Finance Office |
|
Contact No.: |
91-22-24964400 |
|
Date : |
13.11.2013 |
LOCATIONS
|
Registered / Chairman Office : |
Mahalaxmi Chambers, 8th Floor, 22, Bhulabhai Desai Road,
Mumbai – 400026, Maharashtra, India |
|
Tel. No.: |
91-22-24964400-05/ 06/
23534400-05 |
|
Fax No.: |
91-22-23517544/ 24937544 |
|
E-Mail : |
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|
Website: |
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|
Area : |
4800 Sq. fts. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Plot No. A-324, Road No. 21, Wagle Industrial Estate, Thane - 400604,
Maharashtra, India |
|
Tel. No.: |
91-22-25823755/ 25823602/ 25814613 |
|
Fax No.: |
91-22-25823603 |
|
E-Mail : |
|
|
Area : |
4 acres land and plant area 48000 Sq. fts |
|
Location: |
Owned |
|
|
|
|
Factory 2 : |
Peenya Industrial Estate, Plot No. 2, Phase II, Bangalore
- 560058, Karnataka, India |
|
Tel. No.: |
91-80-28395734-8 |
|
Fax No.: |
91-80-28395175-6 |
|
E-Mail : |
|
|
Area : |
4 acres land and plant area 48000 Sq. fts |
|
Location: |
Owned |
|
|
|
|
Factory 3 : |
C-2, MIDC Industrial Estate, Paithan, Aurangabad – 431148,
Maharashtra, India |
|
Tel. No.: |
91-2431-232074/ 232376 |
|
Fax No.: |
91-2431-232058 |
|
E-Mail : |
|
|
Area : |
4 acres land and plant area 48000 Sq. fts |
|
Location: |
Owned |
|
|
|
|
Branch Office : |
Located at ·
Mumbai ·
Baroda ·
Pune ·
Chennai ·
Hyderabad ·
Kolkata ·
Delhi ·
Bhubaneswar |
|
|
|
|
Overseas Office : |
|
|
Tel. No.: |
1- 9499813981 |
|
E-Mail : |
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|
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City Office: |
13, Sameer Apartment, Ahimsa Nagar, Opposite Akashwani, Aurangabad -
431005, India |
|
Tell No.: |
91-2431-232191/ 232191/ 232191/ 232376/ 232075/ 233385 |
|
Fax No.: |
91-2431-232058 |
|
|
|
|
Regional Representatives : |
Located at ·
Nagpur ·
Vizag |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Sameer Sadanand Shetty |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
11-D, IL Palazzo, Little Gibbs Road, Malabar Hill, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
24.06.1970 |
|
Qualification : |
B.A (Physics),
M.S (Operation and Research) |
|
Date of Appointment : |
26.10.1998 |
|
PAN No.: |
AAIPS2479M |
|
DIN No.: |
01306426 |
|
|
|
|
Name : |
Mrs. Smita Hari Prasad Shetty |
|
Designation : |
Managing director |
|
Address : |
777, 100 Feet Road, Hal II Stage, Indira Nagar, Bangalore – 560008,
Karnataka, India |
|
Date of Birth/Age : |
01.12.1956 |
|
Qualification : |
B.A |
|
Date of Appointment : |
26.10.1998 |
|
PAN No.: |
AAEPS3694N |
|
DIN No.: |
01872542 |
|
|
|
|
Name : |
Mrs. Sucharita Ramcrishna Hegde |
|
Designation : |
Director |
|
Address : |
4th Floor, Suraiya Apartments, Pochkhanwala Road, Worli,
Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
16.09.1958 |
|
Qualification : |
M.M.A (Finance) |
|
Date of Appointment : |
12.09.1998 |
|
PAN No.: |
AAAPH4233L |
|
DIN No.: |
01284570 |
|
|
|
|
Name : |
Farrokh Sorab Broacha |
|
Designation : |
Director |
|
Address : |
Skylark, 4th Floor, Little Gibbs Road, Malabar Hill, Mumbai
– 400006, Maharashtra, India |
|
Date of Birth/Age : |
14.06.1938 |
|
Date of Appointment : |
30.03.1989 |
|
DIN No.: |
00198990 |
KEY EXECUTIVES
|
Name : |
Mr. Ravi Rajeev |
|
Designation : |
Finance Office |
|
|
|
|
Name : |
Mr. Subhash Vithal Satam |
|
Designation : |
Secretary |
|
Address : |
B 05, Sohini Apartments, Datta Mandir Road, Vakola, Santacruz (East),
Mumbai – 400055, Maharashtra, India |
|
Date of Birth/Age : |
24.04.1957 |
|
Date of Appointment : |
07.06.1982 |
|
PAN No.: |
ABBPS3043B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Soumyalatha S. Shetty |
|
393900 |
|
Smita H. Shetty |
|
88392 |
|
Sucharita R. Hegde |
|
88392 |
|
Sameer S. Shetty |
|
129132 |
|
Shreeram H. Shetty |
|
18780 |
|
Priyadarshini H. Shetty |
|
6300 |
|
Rithvik R. Hegde |
|
18780 |
|
Tanushree R. Hegde |
|
6300 |
|
Fouress Marketing ITL Private Limited, |
|
24 |
|
|
|
|
|
Total |
|
750000 |
AS ON 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Industrial Valve. |
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Products : |
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Exports : |
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Products : |
Industrial Valve |
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Countries : |
· Europe · Asian Country · Middle East |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
· Israel · China · Korea |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users · Adani · BHEL · Bharat Petroleum · CGPL -10 · EIL · ESSAR · Gammon · HP · Indian Oil · Jindal Steel and Power Limited · NTPC · Reliance Industries Limited · TATA Steel · JSW |
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No. of Employees : |
1500 (Approximately) |
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Bankers : |
· State Bank of India, Industrial Finance Branch, The Arcade 2nd Floor, World Trade Centre, Cuffe Parade, Mumbai – 400005, Maharashtra, India · Corporation Bank · Bank of Baroda · HDFC Bank Limited · ICICI Bank Limited · State Bank of Hyderabad · State Bank of Mysore · State Bank of Travancore · Kotak Mahindra Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
J.R. Jain and Company Chartered Accountants |
|
Address : |
Sheel Chambers,
10 Cawasji Patel Street Fort, Mumbai, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAPJ8951D |
|
|
|
|
Related Parties : |
· Boving Fouress Limited · Bombay Engineering Industries |
|
|
|
|
Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their
relatives : |
·
B Fouress Private Limited ·
Sadanand Family Benefit Trust ·
Fouress Marketing (International) Private Limited ·
Petrochemical Engineering Enterprises ·
Rubber Products Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs. 100/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750,000 |
Equity Shares |
Rs. 100/- each |
Rs. 75.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
75.000 |
75.000 |
|
(b) Reserves & Surplus |
|
197.512 |
170.270 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
272.512 |
245.270 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
63.361 |
14.928 |
|
(b) Deferred tax liabilities (Net) |
|
7.826 |
8.037 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
71.187 |
22.965 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
105.691 |
93.699 |
|
(b) Trade payables |
|
435.459 |
335.224 |
|
(c) Other current liabilities |
|
350.977 |
236.450 |
|
(d) Short-term provisions |
|
22.578 |
47.270 |
|
Total Current Liabilities (4) |
|
914.705 |
712.643 |
|
|
|
|
|
|
TOTAL |
|
1258.404 |
980.878 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
214.128 |
130.885 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
11.465 |
16.167 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
2.889 |
17.555 |
|
(c) Deferred tax assets (net) |
|
2.027 |
0.547 |
|
(d) Long-term Loan and Advances |
|
6.587 |
5.512 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
237.096 |
170.666 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
4.260 |
0.000 |
|
(b) Inventories |
|
463.015 |
364.537 |
|
(c) Trade receivables |
|
433.907 |
354.281 |
|
(d) Cash and cash
equivalents |
|
32.918 |
11.312 |
|
(e) Short-term loans and
advances |
|
87.208 |
80.082 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
1021.308 |
810.212 |
|
|
|
|
|
|
TOTAL |
|
1258.404 |
980.878 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
75.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
89.656 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
164.656 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
134.258 |
|
|
2] Unsecured Loans |
|
|
9.009 |
|
|
TOTAL BORROWING |
|
|
143.267 |
|
|
DEFERRED TAX LIABILITIES |
|
|
8.312 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
316.235 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
132.208 |
|
|
Capital work-in-progress |
|
|
7.741 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.189 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
321.657
|
|
|
Sundry Debtors |
|
|
260.099
|
|
|
Cash & Bank Balances |
|
|
29.263
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
202.885
|
|
Total
Current Assets |
|
|
813.904 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
296.163 |
|
|
Other Current Liabilities |
|
|
200.769
|
|
|
Provisions |
|
|
145.648
|
|
Total
Current Liabilities |
|
|
642.580 |
|
|
Net Current Assets |
|
|
171.324 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
4.773 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
316.235 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
1679.261 |
1531.590 |
1372.213 |
|
|
|
Other Income |
15.771 |
13.141 |
31.728 |
|
|
|
TOTAL |
1695.032 |
1544.731 |
1403.941 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1110.675 |
924.249 |
|
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(65.213) |
(19.981) |
|
|
|
|
Employee benefit expense |
248.033 |
219.274 |
|
|
|
|
Other expenses |
316.091 |
269.536 |
|
|
|
|
TOTAL |
1609.586 |
1393.078 |
1284.396 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
85.446 |
151.653 |
119.545 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
23.860 |
21.388 |
24.427 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
61.586 |
130.265 |
95.118 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
23.061 |
19.312 |
18.388 |
|
|
|
|
|
|
|
|
|
|
EXCEPTIONAL
ITEMS BEFORE TAX |
(1.274) |
(1.274) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
37.251 |
109.679 |
76.730 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
10.009 |
29.064 |
37.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
27.242 |
80.615 |
39.630 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
73.221 |
368.524 |
281.665 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
83.499 |
|
|
|
Spares and Consumables |
NA |
NA |
4.610 |
|
|
TOTAL IMPORTS |
NA |
NA |
88.109 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
36.32 |
107.48 |
52.84 |
|
%20LIMITED%20-%20242726%2021-Nov-2013_files/image001.gif){kind=small}
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
1850.000 |
|
|
|
|
|
The above information has been parted by Mr. Ravi Rajeev
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.61
|
5.22 |
2.82 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.22
|
7.16 |
5.59 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.00
|
11.59 |
8.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.45 |
0.47 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.62
|
0.44 |
0.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12
|
1.14 |
1.27 |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming financial
year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
Other loans and advances |
2.379 |
2.379 |
|
Loans repayable on demand from banks |
7.254 |
0.000 |
|
Loans and advances from related parties |
13.400 |
6.630 |
|
Total |
23.033 |
9.009 |
OPERATIONS
The Company’s
Sales turnover showed an increase of 9.65% over the previous year i.e. from of
Rs. 1531.600 Millions to Rs.1679.300 Millions in the current year.
There was an overall
improvement in the performance of all the plants. The order book position
continued to be good especially from Water, Gas and Power sectors.
The increase in
the cost of steel and other raw material affected the Company’s profitability
and inspite of the growth in the sales the net profit came down.
PROSPECTS
With the signs of
revival in the domestic economy the Company expects to continue its growth in
the coming years also. The pending order position as on 31.07.2012 was more
than Rs.2200.000 Millions which can be considered healthy. The Company is
confident of executing all these orders as per the need dates of the customers
and expects to continue doing well during the current year.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10314309 |
18/04/2012 * |
65,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, THE ARCADE, 2ND FLOOR, WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA |
B41183815 |
|
2 |
10059645 |
18/04/2012 * |
807,600,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, THE ARCADE, 2ND FLOOR, WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA |
B41183500 |
|
3 |
90367224 |
25/07/1996 |
560,000,000.00 |
STATE BANK OF INDIA |
CUFFE PARADE, BOMBAY, Maharashtra, INDIA |
- |
|
4 |
90367109 |
10/01/1992 |
15,000,000.00 |
STATE BANK OF INDIA |
CUFFE PARADE, BOMBAY, Maharashtra, INDIA |
- |
|
5 |
90366996 |
16/12/1988 |
6,400,000.00 |
INDUSTRIAL RECONSTRUCTION OF INDIA |
NARIMAN POINT, BOMBAY, Maharashtra, INDIA |
- |
|
6 |
90366479 |
25/07/1975 |
700,000.00 |
STATE BANK OF INDIA |
PEDDER ROAD, BOMBAY, Maharashtra, INDIA |
- |
|
7 |
90366478 |
21/07/1975 |
400,000.00 |
STATE BANK OF INDIA |
CUFFE PARADE, BOMBAY, Maharashtra, INDIA |
- |
|
8 |
90366446 |
06/03/1974 |
1,300,000.00 |
STATE BANK OF INDIA |
CUFFE PARADE, BOMBAY, Maharashtra, INDIA |
- |
|
9 |
90366384 |
05/07/1972 |
250,000.00 |
STATE BANK OF INDIA |
CUFFE PARADE, BOMBAY, Maharashtra, INDIA |
- |
|
10 |
90366363 |
05/07/1971 |
250,000.00 |
STATE BANK OF INDIA |
PEDDER ROAD, BOMBAY, Maharashtra, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Residential building
·
Factory building
·
Plant and equipment
·
Factory equipments
·
Furniture and fixtures
·
Vehicles
·
Motor vehicles
·
Office equipment
·
Other equipments
·
Computer equipments
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. 62.56 |
|
|
1 |
Rs. 100.77 |
|
Euro |
1 |
Rs. 84.71 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.