MIRA INFORM REPORT
|
Report Date : |
25.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
FUGRO SURVEY (INDIA) PRIVATE LIMITED (w.e.f. 19.04.2006) |
|
|
|
|
Formerly Known
As : |
FUGRO GEONICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Fugro House, Plot No. D-222/30 TTC Industrial Area, MIDC, Nerul, Navi
Mumbai – 400706, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
27.12.1996 |
|
|
|
|
Com. Reg. No.: |
11-104739 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 31.063 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U73100MH1996PTC104739 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMF03462E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF5243R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is primarily involved in providing onshore and
offshore survey, navigation services, personnel hire and data processing
services for oil and gas industry. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a joint venture between Geonics ( It is a well established company having satisfactory track record. There is dip in the profit of the company during 2012. The overall
financial position of the company appears to be sound and healthy. Hover, trade relations are reported as fair. Business is active.
Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been
named the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top
spot for the world’s most honest city while Lisbon, the capital of Portugal,
proved to be the least honest. The survey put hundreds of people to test
in four continents to find out just how honest they were by dropping wallets
and seeing how many would be returned.
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term = A |
|
Rating Explanation |
Adequate degree of safety and carry low credit risk. |
|
Date |
January, 2012 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term = A1 |
|
Rating Explanation |
Strong degree of safety and carry lowest credit risk |
|
Date |
January, 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 BY
|
Name : |
Mr. Niketun Bhayat |
|
Designation : |
Finance Department |
|
Contact No.: |
91-22-27629500 |
|
Date : |
24.10.2013 |
LOCATIONS
|
Registered Office : |
Fugro House, Plot No. D-222/30 TTC Industrial Area, MIDC, Nerul, Navi
Mumbai – 400706, |
|
Tel. No.: |
91-22-27629500 / 27629720 |
|
Fax No.: |
91-22-27629140 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Bhigna Nayak |
|
Designation : |
Managing Directors |
|
Address : |
Flat No.201, 20th Floor, Sagar Vihar, Plot No.99, Sector 8, Vashi, Navi Mumbai – 400 703, Maharashtra, India |
|
Date of Birth/Age : |
15.06.1951 |
|
Date of Appointment : |
27.12.1996 |
|
DIN No.: |
01771916 |
|
|
|
|
Name : |
Mr. Ravindra G. Chitnis |
|
Designation : |
Director |
|
Address : |
A/18, Dara Enclave, Army Welfare Housing Complex, Sector 9, Nerul, Navi Mumbai 400706, Maharashtra, India |
|
Date of Birth/Age : |
30.12.1945 |
|
Date of Appointment : |
27.12.1996 |
|
DIN No.: |
01771969 |
|
|
|
|
Name : |
Mr. Jakob Ruegg |
|
Designation : |
Director |
|
Address : |
Vermessungstechniker HeidenBuelstr.27 Elsau CH8352 |
|
Date of Birth/Age : |
18.09.1944 |
|
Date of Appointment : |
06.01.1997 |
|
DIN No.: |
02585271 |
|
|
|
|
Name : |
Mr. Richard Gore |
|
Designation : |
Director |
|
Address : |
P.O. Box No. 8625, |
|
Date of Birth/Age : |
14.11.1946 |
|
Date of Appointment : |
29.03.2004 |
|
DIN No.: |
02659871 |
|
|
|
|
Name : |
Mr. Michael Leonard Dravitzki |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
14.12.1963 |
|
Date of Appointment : |
14.07.2008 |
|
DIN No.: |
02463373 |
KEY EXECUTIVES
|
Name : |
Mr. Niketun Bhayat |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Fugro Mauritius Limited, |
|
27957 |
|
Geonics India Private Limited, India |
|
3106 |
|
Total |
|
31063 |
As on 29.09.2012
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 |
90.00 |
|
Bodies corporate |
10.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is primarily involved in providing onshore and
offshore survey, navigation services, personnel hire and data processing services
for oil and gas industry. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Axis Bank Limited, Corporate Banking Br., Axis House,
Ground Floor, Bombay Dyeing Mills Comp.,
P.B. Marg, Worli, Mumbai - 400025, Maharashtra, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Borkar and Muzumdar Chartered Accountants |
|
Address : |
235-37, Piramal Mansion, Dr. D N Road, Fort,
Mumbai-400001, Maharashtra, India |
|
PAN No.: |
AAAFB3194J |
|
|
|
|
Holds 90% of equity
shares of FSINPVT |
Fugro Mauritius Limited |
|
|
|
|
Holding Company |
Fugro N.V. |
|
|
|
|
Fellow subsidiary |
|
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
93000 |
Equity Shares |
Rs.1000/- each |
Rs.93.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31063 |
Equity Shares |
Rs.1000/- each |
Rs.31.063 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 |
|
31.063 |
31.063 |
|
(b) Reserves & Surplus |
|
400.661 |
343.209 |
|
(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) |
|
431.724 |
374.272 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
30.072 |
12.803 |
|
(b) Trade
payables |
|
124.832 |
221.512 |
|
(c) Other
current liabilities |
|
16.524 |
81.790 |
|
(d) Short-term
provisions |
|
90.815 |
172.084 |
|
Total Current
Liabilities (4) |
|
262.243 |
488.189 |
|
|
|
|
|
|
TOTAL |
|
693.967 |
862.461 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
137.238 |
148.293 |
|
(ii)
Intangible Assets |
|
4.108 |
4.453 |
|
(iii)
Capital work-in-progress |
|
13.816 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1.249 |
1.249 |
|
(c) Deferred tax assets (net) |
|
50.912 |
44.573 |
|
(d) Long-term Loan and Advances |
|
1.010 |
4.090 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
208.333 |
202.658 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
3.634 |
4.417 |
|
(c) Trade
receivables |
|
388.237 |
543.230 |
|
(d) Cash
and cash equivalents |
|
72.346 |
87.054 |
|
(e)
Short-term loans and advances |
|
21.417 |
25.102 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
485.634 |
659.803 |
|
|
|
|
|
|
TOTAL |
|
693.967 |
862.461 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
31.063 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
302.641 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
333.704 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
11.812 |
|
|
2] Unsecured Loans |
|
|
38.102 |
|
|
TOTAL BORROWING |
|
|
49.914 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
383.618 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
130.247 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1.249 |
|
|
DEFERREX TAX ASSETS |
|
|
49.177 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
2.894
|
|
|
Sundry Debtors |
|
|
347.521
|
|
|
Cash & Bank Balances |
|
|
66.683
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
325.813
|
|
Total
Current Assets |
|
|
742.911
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
111.088
|
|
|
Other Current Liabilities |
|
|
35.396
|
|
|
Provisions |
|
|
393.482
|
|
Total
Current Liabilities |
|
|
539.966
|
|
|
Net Current Assets |
|
|
202.945
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
383.618 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
1119.734 |
821.080 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
NA |
1119.734 |
821.080 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
NA |
762.723 |
533.527 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
762.723 |
533.527 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
284.029 |
357.011 |
287.553 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.653 |
14.153 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
279.376 |
342.858 |
287.553 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
56.315 |
59.914 |
51.097 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
223.061 |
282.944 |
236.456 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
70.661 |
99.604 |
84.714 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
152.400 |
183.340 |
151.742 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
169.879 |
147.776 |
97.978 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
15.300 |
18.465 |
15.200 |
|
|
|
Interim Dividend |
55.913 |
104.061 |
47.739 |
|
|
|
Dividend
Distribution Tax |
13.253 |
20.073 |
12.601 |
|
|
|
Proposed Dividend |
25.782 |
18.638 |
26.404 |
|
|
BALANCE CARRIED
TO THE B/S |
212.031 |
169.879 |
147.776 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
561.000 |
486.325 |
369.541 |
|
|
TOTAL EARNINGS |
561.000 |
486.325 |
369.541 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores & Spares |
3.386 |
0.142 |
3.107 |
|
|
|
Capital Goods |
55.974 |
33.886 |
11.186 |
|
|
TOTAL IMPORTS |
59.360 |
34.028 |
14.293 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4906.00 |
5902.000 |
4885.000 |
|
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%20PRIVATE%20LIMITED%20-%20240859_MIRA%2025-Oct-2013_files/image002.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20240859_MIRA%2025-Oct-2013_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20240859_MIRA%2025-Oct-2013_files/image004.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
16.37 |
18.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
35.52
|
34.65 |
0.27
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.52
|
0.76 |
0.71
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.07
|
0.03 |
0.15
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.85
|
1.35 |
1.38
|
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
Rs. In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Current maturities of long-term debt |
0.000 |
18.463 |
NA |
|
|
|
|
|
|
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last two 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 |
---------------------- |
|
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 |
BACKGROUND
Subject was incorporated on 27th December, 1996 as a joint venture between Geonics (India) Private Limited and Fugro Mauritius Limited, a subsidiary of Fugro NV, Netherlands. The Company is primarily involved in providing onshore and offshore survey, navigation services, personnel hire and data processing services for oil and gas industry.
PERFORMANCE REVIEW
Past Performance the Company has closed its books of accounts on 31st March, 2012. During the year there has been decrease in gross revenue by 20.41% as compared to previous year. The post tax profit is Rs.152.400 Millions as compared to earlier year’s figure of Rs. 183.340 Millions noting a decrease of 16.88%. This can be owed to sluggishness in the industry prevailing during the period. The Company’s operations during the year have been satisfactory. 89.98% of Company’s turnover was from Marine Survey and Construction, 5.91% from Positioning, Miscellaneous and Other Income contributed 4.11% to the total revenue. During the year the company has executed, as in earlier years, several prestigious contracts awarded by reputed customers to their entire satisfaction, which has further consolidated the Company’s image to a great extent in the market. During the year, the company has Subsea as its new division with a promising growth in the field of ROV and related services.
FUTURE OUTLOOK
Oil and Gas market in India will remain buoyant during 2012-2013. National Oil Company (NOC), ONGC has announced investment of USD 5 billion for development of marginal fields on West Cost of India and USD 7.7 billion for development of deep water gas fields on East Coast of India. These investments will be over next 3-4 years. With USD 12.7 billion investments ONGC will remain major client for the company. British Petroleum is investing USD 7 billion in Reliance Oil and Gas blocks on East Coast of India. Reliance which was dormant for the last two years, has announced intentions of development of their blocks on East coast of India along with BP. Tenders for geotechnical services for field development has been issued. GSPC is developing a Gas field on East Coast of India. This field is located next to the already proven Reliance KG D6 field. They have awarded laying of pipelines up to Land Fall Point (LFP) to Punj Lloyd and Platform Installation work to L and T. The company has been awarded survey works by Punj and L and T. GSPC’s budget for this development is USD 1 billion. British Gas has investments plans of about USD 50 million during 2012. These new development plans are presently pending with their partners ONGC and Reliance for approval. Cairn Energy is presently developing Gas field Off Sri Lankan coast. Cairn will be drilling 4 wells there. They have already discovered Gas in these fields. The company will also develop Deep water block on East coast of India. Swiber has a lot of pipe lay jobs coming up in India as well as in Myanmar (due to start in mid-2012) for which they have registered their interest to work with Fugro. ONGC is likely to tender for ROV requirement for 3 years for Sagar Bhushan Drill support jobs and tender is likely to be out by December 2012 for job to commence from May 2013.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10053121 |
30/12/2006 |
55,200,000.00 |
UTI BANK LIMITED |
FORT BARANCH, UNIVERSAL INSURANCE BUILDING, SIR P M. ROAD, MUMBAI, MAHARASHTRA - 400001, INDIA |
A08615775 |
|
2 |
90361120 |
10/05/2000 |
2,500,000.00 |
VIJAYA BANK |
EXCELSIOR BRANCH, NEW EXCELSIOR BUILDING, BOMBAY, |
- |
|
3 |
90360081 |
15/03/2000 |
39,600,000.00 |
SICOM LIMITED |
NIRMAL; IST FLOOR. NARIMAN POINT, MUMBAI, MAHARASHTRA, INDIA |
- |
|
4 |
90360075 |
21/12/2000 * |
24,500,000.00 |
SICOM LIMITED |
NIRMAL; IST FLOOR. NARIMAN POINT, MUMBAI, MAHARASHTRA, INDIA |
- |
|
5 |
80023163 |
06/08/2013 * |
50,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BR., AXIS HOUSE, GROUND FLOOR, BOMBAY DYEING MILLS COMP., P.B. MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA |
B83941492 |
|
6 |
90142208 |
06/08/2013 * |
70,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BR., AXIS HOUSE, GROUND FLOOR, BOMBAY DYEING MILLS COMP., P.B. MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA |
B83558841 |
|
7 |
80021649 |
11/09/1998 |
10,000,000.00 |
UTI BANK LIMITED |
FORT BRANCH, UNIVERSAL INSURANCE BUILDING, SIR PM |
- |
|
8 |
90360952 |
03/04/1998 |
3,500,000.00 |
SICOM LIMITED |
NIRMAL; IST FLOOR. NARIMAN POINT, MUMBAI, MAHARASHTRA, INDIA |
- |
|
9 |
90360949 |
17/03/1998 |
10,000,000.00 |
SICOM LIMITED |
NIRMAL; IST FLOOR. NARIMAN POINT, MUMBAI, MAHARASHTRA, INDIA |
- |
|
10 |
90360901 |
23/07/1997 |
10,000,000.00 |
SICOM LIMITED |
NIRMAL; IST FLOOR. NARIMAN POINT, MUMBAI, MAHARASHTRA, INDIA |
- |
|
11 |
90357875 |
21/02/1997 |
15,000,000.00 |
MAHARASHTRA STATE FINANCE CORPORATION. |
NEW EXCELSIOR BUILDING. 5.7.8.9TH FLOORS, AMRIT |
- |
|
12 |
90360796 |
06/02/1999 * |
5,000,000.00 |
VIJAYA BANK |
EXCELSIOR BRANCH; NEW EXCELSIOR BUILDING, MUMBAI, |
- |
|
13 |
90360788 |
28/11/1995 |
10,000,000.00 |
MAHARASHTRA STATE FINANCIAL CORPORATION |
NEW EXCELSIOR BUILDING. 5.7.8.9TH FLOORS, AMRIT |
- |
|
14 |
90360731 |
23/02/1995 |
5,000,000.00 |
MAHARASHTRA STATE FINANCIAL CORPORATION |
NEW EXCELSIOR BUILDING. 5.7.8.9TH FLOORS, AMRIT |
- |
|
15 |
90360708 |
13/09/1994 |
2,700,000.00 |
SICOM LIMITED |
NIRMAL; IST FLOOR. NARIMAN POINT, MUMBAI, MAHARASHTRA, INDIA |
- |
|
16 |
90361476 |
16/01/1992 |
6,000,000.00 |
MAHARASHTRA STATE FINANCIAL CORPORATION |
NEW EXCELSIOR BUILDING. 5.7.8.9TH FLOORS, AMRIT |
- |
* Date of charge modification
FIXED ASSETS
- Building
- Building Renovation
- Vessels
- Plant and Machinery
- Office equipments
- Electrical Fittings
- Computers and peripherals
- Furniture and fixtures
- Software
- Motor vehicles
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.61.41 |
|
|
1 |
Rs.99.53 |
|
Euro |
1 |
Rs.84.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
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 |
|
50 |
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.