MIRA
INFORM REPORT
|
Report Date : |
12.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
EDAC ENGINEERING LIMITED (w.e.f. 23.10.2007) |
|
|
|
|
Formerly Known
As : |
SPIC - JEL ENGINEERING CONSTRUCTION LIMITED |
|
|
|
|
Registered
Office : |
97, Mount Road, Guindy, Chennai – 600032, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
26.06.1987 |
|
|
|
|
Com. Reg. No.: |
18-014584 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1128.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45201TN1987PLC014584 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS0321G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company undertakes Engineering, Procurement, Design,
Construction, Erection and Fabshop. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. Sales turnover and profit of the company has sharply dipped during
financial year 2012. However, overall financial position of the company appears to be good.
Networth of the company appears to be strong. Trade relation reported to be fair. Business is active. Payment terms
are reported to be usually correct. The company can be considered for business dealing at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
We are living in a world
where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial years
of the contagion but finally lost ground last year. GDP growth slowed down.
Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BBB- |
|
Rating Explanation |
Moderate credit quality and average credit risk |
|
Date |
20.11.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
20.11.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
Management Non-Cooperative (91-44-22301941)
LOCATIONS
|
Registered Office : |
97, Mount Road, Guindy, Chennai – 600032, Tamilnadu, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
88, Mount Road, Guindy, Chennai – 600032, Tamilnadu, India |
|
Tel. No.: |
91 44-22301941 |
|
Fax No.: |
91-44-22301946 |
DIRECTORS
As on 28.09.2012
|
Name : |
Kannivelu Thiruvengadam Vijayagopal |
|
Designation : |
Managing Director |
|
Address : |
New. No. 5, 9th Slreel T Block, Anna Nagar, Chennai – 600040, Tamilnadu, India |
|
Date of Birth/Age : |
22.06.1965 |
|
Date of Appointment : |
20.04.2012 |
|
DIN No.: |
02341353 |
|
|
|
|
Name : |
Mr. Balasingh Joseph Arthur Baskaran |
|
Designation : |
Director |
|
Address : |
New No.25/4, Taylors Estate, Kodambaklcam, Chennai – 600024, Tamilnadu, India |
|
Date of Birth/Age : |
17.11.1945 |
|
Date of Appointment : |
10.06.2010 |
|
DIN No.: |
01495467 |
|
|
|
|
Name : |
Mr. Kulathu Kaundinya Rajagopalan |
|
Designation : |
Director |
|
Address : |
"Ashok Thiruvarangam", New No. 49/3 (Old No.
11/3), First Avenue, Ashok Nagar, Chennai-600083, Tamilnadu, India |
|
Date of Birth/Age : |
30.09.1950 |
|
Date of Appointment : |
27.08.2012 |
|
DIN No.: |
00050446 |
|
|
|
|
Name : |
Mr. Gopalan Ramachandran |
|
Designation : |
Director |
|
Address : |
New No.25(Old No.14) East Road, West C1T Nagar, Chennai -600035, Tamilnadu, India |
|
Date of Birth/Age : |
01.09.1951 |
|
Date of Appointment : |
27.08.2012 |
|
DIN No.: |
00051999 |
KEY EXECUTIVES
|
Name : |
Mrs. Meenakshi N. |
|
Designation : |
Secretary |
|
Address : |
"BBC CITY PAARK", Flat No.68, 1 Floor, Block 2, Phase VIII, 76, Anna salai, Chinnaporur Village, Chennai –600116, Tamilnadu, India |
|
Date of Birth/Age : |
08.10.1983 |
|
Date of Appointment : |
01.06.2012 |
|
PAN No.: |
ARFPM3058A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
EDAC Universe Pte. Limited, Singapore |
|
70829997 |
|
Corignan Investments Limited, Cyprus |
|
29969898 |
|
D S Desilva |
|
21 |
|
S Radhakrishnan |
|
21 |
|
R M Chockalingam |
|
21 |
|
R Sivagurunathan |
|
21 |
|
SP Sathappon |
|
21 |
|
Total |
|
100800000 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Sicagan India Limited |
|
10000000 |
|
Tanglin Developments Limited |
|
2000000 |
|
Total |
|
12000000 |
As on 30.04.2013
|
Names of Allottee (Preference Shares) |
|
No. of Shares
Allotted |
|
Mercantile Ventures Limited, India |
|
3000000 |
|
Total |
|
3000000 |
As on 19.08.2013
|
Names of Allottee (Preference Shares) |
|
No. of Shares
Allotted |
|
Mercantile Ventures Limited, India |
|
2000000 |
|
Total |
|
2000000 |
As on 27.08.2013
|
Names of Allottee (Preference Shares) |
|
No. of Shares
Allotted |
|
Mercantile Ventures Limited, India |
|
1000000 |
|
Total |
|
1000000 |
As on 05.09.2013
|
Names of Allottee (Preference Shares) |
|
No. of Shares
Allotted |
|
Mercantile Ventures Limited, India |
|
4000000 |
|
Total |
|
4000000 |
As on 28.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
99.99 |
|
Other |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company undertakes Engineering, Procurement, Design, Construction, Erection and Fabshop. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||
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|
|
|||||||||||||||||||||
|
Bankers : |
· Yes Bank Limited, 9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli,, Mumbai - 400018, Maharashtra, India · Centurion Bank Limited, Durga Niwas, Mahatma Gandhi Road, Panaji - 400001, Goa, India · Bank of India, Chennai Corporate Banking Branch, Tarapore Towers; 826; Anna Salai, Chennai - 600002, Tamilnadu, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Financial Institutions : |
· Orix Auto Infrastructure Services Limited, Plot No. 94, Marol Co. Oprative Industrial Estate, Andheri Kurla Road, Andheri (East), Mumbai. - 400059, Maharashtra, India · Sundaram Finance Limited, No. 21 Patullos Road, 24; Park Street, Chennai - 600002, Tamilnadu, India ·
SREI Equipment Finance Private Limited,
'Vishwakarma', 86C, Topsia Road, Kolkata - 700046, West Bengal, India |
|
|
|
|
Auditors : |
|
|
Name : |
P B Vijayaraghavan and Company Chartered Accountants |
|
Address : |
14, (Old No. 27), Cathedral Garden Road, Nungambakkam,
Chennai – 600034, Tamilnadu, India |
|
PAN No.: |
AAAFV3332L |
|
|
|
|
Holding company : |
EDAC Universe Pte Limited |
|
|
|
|
Associates : |
· Gulf Spic Engineering LLC · CCCL - Edac Energy Limited |
|
|
|
|
Fellow Subsidiary
company |
EDAC Automation Limited |
CAPITAL STRUCTURE
After 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
120000000 |
Equity Shares |
Rs.10/- each |
Rs.1200.000 Millions |
|
50000000 |
Preference Shares |
Rs.10/- each |
Rs.500.000 Millions |
|
|
Total |
|
Rs.1700.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100800000 |
Equity Shares |
Rs.10/- each |
Rs.1008.000 Millions |
|
22000000 |
Preference Shares |
Rs.10/- each |
Rs.220.000 Millions |
|
|
Total |
|
Rs.1228.000
Millions |
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
120000000 |
Equity Shares |
Rs.10/- each |
Rs.1200.000 Millions |
|
15000000 |
Preference Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
|
Total |
|
Rs.1350.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100800000 |
Equity Shares |
Rs.10/- each |
Rs.1008.000 Millions |
|
12000000 |
Preference Shares |
Rs.10/- each |
Rs.120.000 Millions |
|
|
Total |
|
Rs.1128.000
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 |
|
1128.000 |
198.000 |
|
(b) Reserves & Surplus |
|
307.712 |
1158.798 |
|
(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) |
|
1435.712 |
1356.798 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
211.327 |
340.859 |
|
(b) Deferred tax liabilities (Net) |
|
38.645 |
31.788 |
|
(c) Other long term liabilities |
|
857.890 |
539.939 |
|
(d) long-term provisions |
|
273.800 |
257.475 |
|
Total Non-current Liabilities (3) |
|
1381.662 |
1170.061 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
556.910 |
67.341 |
|
(b) Trade payables |
|
1094.676 |
446.983 |
|
(c) Other current
liabilities |
|
1987.680 |
1967.602 |
|
(d) Short-term provisions |
|
3364.015 |
2950.345 |
|
Total Current Liabilities (4) |
|
7003.281 |
5432.271 |
|
|
|
|
|
|
TOTAL |
|
9820.655 |
7959.130 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
971.280 |
563.738 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
33.446 |
11.466 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1.998 |
11.998 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
584.988 |
785.546 |
|
Total Non-Current Assets |
|
1591.712 |
1372.748 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
3975.678 |
3376.903 |
|
(c) Trade receivables |
|
2295.169 |
938.359 |
|
(d) Cash and cash
equivalents |
|
611.601 |
996.876 |
|
(e) Short-term loans and advances |
|
574.848 |
773.126 |
|
(f) Other current assets |
|
771.647 |
501.118 |
|
Total Current Assets |
|
8228.943 |
6586.382 |
|
|
|
|
|
|
TOTAL |
|
9820.655 |
7959.130 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
198.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
972.303 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1170.303 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
116.726 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
116.726 |
|
|
DEFERRED TAX LIABILITIES |
|
|
22.656 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1309.685 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
430.464 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1.798 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
686.630 |
|
|
Sundry Debtors |
|
|
1852.107 |
|
|
Cash & Bank Balances |
|
|
472.018 |
|
|
Other Current Assets |
|
|
19.087 |
|
|
Loans & Advances |
|
|
513.818 |
|
Total
Current Assets |
|
|
3543.660 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
925.247 |
|
|
Other Current Liabilities |
|
|
1063.596 |
|
|
Provisions |
|
|
677.394 |
|
Total
Current Liabilities |
|
|
2666.237 |
|
|
Net Current Assets |
|
|
877.423 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1309.685 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5644.016 |
7066.214 |
7211.060 |
|
|
|
Other Income |
99.237 |
47.586 |
29.014 |
|
|
|
TOTAL (A) |
5743.253 |
7113.800 |
7240.074 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
29.032 |
0.000 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(20.623) |
0.000 |
|
|
|
|
Employee benefit expense |
57.178 |
51.725 |
6846.984 |
|
|
|
Expenditure on production, transportation and other expenditure pertaining to E&P activities |
5371.334 |
6577.309 |
|
|
|
|
Other expenses |
56.816 |
45.426 |
|
|
|
|
Prior period |
0.000 |
1.038 |
|
|
|
|
TOTAL (B) |
5493.737 |
6675.498 |
6846.984 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
249.516 |
438.302 |
393.090 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
124.099 |
88.026 |
39.531 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
125.417 |
350.276 |
353.559 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
65.940 |
43.546 |
39.531 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
59.477 |
306.730 |
314.028 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
14.945 |
104.493 |
90.062 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
44.532 |
202.237 |
223.966 |
|
|
|
|
|
|
|
|
|
Less/ Add |
Deductions to Reserves |
(50.000) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
198.798 |
811.340 |
591.442 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
|
|
|
|
|
Dividend |
13.981 |
13.500 |
4.068 |
|
|
|
Tax on Dividend |
0.000 |
2.242 |
|
|
|
BALANCE CARRIED
TO THE B/S |
179.349 |
198.798 |
811.340 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
33.238 |
11.359 |
NA |
|
|
TOTAL EARNINGS |
33.238 |
11.359 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.58 |
3.53 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.76
|
2.84 |
3.09 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.05
|
4.34 |
4.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.61
|
3.87 |
7.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.23 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.54
|
0.30 |
0.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18
|
1.21 |
1.33 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
LITIGATIONS DETAILS
CHENNAI COURT
CASE STATUS INFORMATION SYSTEM
|
Case Status: |
Pending |
|
Status Of: |
ORIGINAL APPLICATION |
|
Case No.: |
718 |
|
Year : |
2013 |
|
Petitioner : |
BSBK ENGINEERS PRIVATE LIMITED |
|
Respondent : |
EDAC ENGINEERING LIMITED |
|
Pet's Advocate : |
M/S.GMS LAW ASSOC |
|
Res's Advocate : |
|
|
Category : |
Section 9 |
|
|
Last Listed on: No Date Mentioned |
|
Case Updated on : |
Oct 4 2013 |
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand from banks |
301.892 |
64.575 |
|
Total |
301.892 |
64.575 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10376597 |
17/12/2012 * |
75,000,000.00 |
OAIS AUTO FINANCIAL SERVICES LIMITED |
PLOT NO.94, MAROL CO-OPERATIVE INDUSTRIAL ESTATE, |
B80302870 |
|
2 |
10373320 |
27/08/2012 |
76,500,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B56709660 |
|
3 |
10352022 |
15/04/2012 |
3,900,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B38316923 |
|
4 |
10325932 |
07/12/2011 |
40,000,000.00 |
L AND T FINANCE LIMITED |
L&T HOUSE, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B28922383 |
|
5 |
10323171 |
05/12/2011 |
10,850,000.00 |
INDUSIND BANK LIMITED |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, MAHARASHTRA - 411001, INDIA |
B27877299 |
|
6 |
10319616 |
04/11/2011 |
446,500.00 |
INDUSIND BANK LIMITED |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, MAHARASHTRA - 411001, INDIA |
B26025551 |
|
7 |
10319617 |
04/11/2011 |
446,500.00 |
INDUSIND BANK LIMITED |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, MAHARASHTRA - 411001, INDIA |
B26026161 |
|
8 |
10313523 |
18/10/2011 |
7,530,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B23644438 |
|
9 |
10319614 |
01/10/2011 |
1,120,000.00 |
INDUSIND BANK LIMITED |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, MAHARASHTRA - 411001, INDIA |
B26024554 |
|
10 |
10319628 |
01/10/2011 |
800,000.00 |
INDUSIND BANK LIMITED |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, MAHARASHTRA - 411001, INDIA |
B26028811 |
|
11 |
10319631 |
01/10/2011 |
1,030,000.00 |
INDUSIND BANK LIMITED |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, MAHARA |
B26029173 |
|
12 |
10319634 |
01/10/2011 |
2,400,000.00 |
INDUSIND BANK LIMITED |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, MAHARASHTRA - 411001, INDIA |
B26029587 |
|
13 |
10319655 |
01/10/2011 |
547,000.00 |
INDUSIND BANK LIMITED |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, MAHARASHTRA - 411001, INDIA |
B26036954 |
|
14 |
10306659 |
14/09/2011 |
8,500,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B20717633 |
|
15 |
10307506 |
15/08/2011 |
2,075,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B21102413 |
|
16 |
10301453 |
29/07/2011 |
255,000,000.00 |
DEVELOPMENT CREDIT BANK LIMITED |
301, DELTA PLAZA, 414, VEER SAVARKAR MARG, PRABHA |
B18521971 |
|
17 |
10267718 |
15/02/2011 |
4,253,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B06899389 |
|
18 |
10264891 |
30/01/2011 |
4,940,300.00 |
ORIX AUTO INFRASTRUCTURE SERVICES LIMITED |
PLOT NO. 94, MAROL CO. OP. INDUSTRIAL ESTATE, ANDHERI KURLA ROAD, ANDHERI (EAST), MUMBAI. 59, MAHARASHTRA - 400059, INDIA |
B05350368 |
|
19 |
10263390 |
05/01/2011 |
6,369,500.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B05117965 |
|
20 |
10256762 |
15/12/2010 |
1,439,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B02346153 |
|
21 |
10256790 |
15/12/2010 |
4,035,478.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B02346690 |
|
22 |
10256938 |
15/12/2010 |
1,042,500.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B02362408 |
|
23 |
10290971 |
15/12/2010 |
1,560,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B07479249 |
|
24 |
10239120 |
15/09/2010 |
22,003,391.00 |
ORIX AUTO INFRASTRUCTURE SERVICES LIMITED |
PLOT NO. 94, MAROL CO.OP. INDUSTRIAL ESTATE,, ANDHERI KURLA ROAD, ANDHERI (EAST), MUMBAI. 59., MAHARASHTRA - 400059, INDIA |
A94832284 |
|
25 |
10233688 |
01/08/2010 |
2,230,000.00 |
SREI EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
A92054873 |
|
26 |
10238880 |
30/07/2010 |
8,369,811.00 |
INDUSIND BANK LIMITED |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, MAHARASHTRA - 411001, INDIA |
A94700291 |
|
27 |
10227885 |
22/06/2010 |
5,890,938.00 |
ORIX AUTO INFRASTRUCTURE SERVICES LIMITED |
PLOT NO. 94, MAROL CO. OP. INDUSTRIAL ESTATE, ANDHERI KURLA ROAD, ANDHERI (EAST), MUMBAI. 59., MAHARASHTRA - 400059, INDIA |
A89335657 |
|
28 |
10201892 |
23/02/2010 |
17,412,266.00 |
ORIX AUTO INFRASTRUCTURE SERVICES LIMITED |
PLOT NO. 94, MAROL CO. OP. INDUSTRIAL ESTATE, ANDHERI KURLA ROAD, ANDHERI (EAST), MUMBAI. 59., MAHARASHTRA - 400059, INDIA |
A79269890 |
|
29 |
10202046 |
23/02/2010 |
39,179,406.00 |
ORIX AUTO INFRASTRUCTURE SERVICES LIMITED |
PLOT NO. 94, MAROL CO. OP. INDUSTRIAL ESTATE, ANDHERI KURLA ROAD, ANDHERI (EAST), MUMBAI. 59., MAHARASHTRA - 400059, INDIA |
A79269932 |
|
30 |
10211594 |
14/10/2010 * |
1,000,000,000.00 |
IDBI BANK LIMITED |
115 ANNA SALAI, POST BOX NO 805, SAIDAPET, CHENNAI, TAMILNADU - 600015, INDIA |
A96044466 |
* Date of charge modification
FIXED ASSETS
· Land
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· 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.61.16 |
|
|
1 |
Rs.97.77 |
|
Euro |
1 |
Rs.82.78 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.