MIRA INFORM REPORT
|
Report Date : |
09.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
ADDISON AND COMPANY LIMITED (w.e.f. 29.03.1961) |
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|
|
|
Formerly Known
As : |
ADDISON AND COMPANY PRIVATE LIMITED |
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Registered
Office : |
803, Anna Salai, Post Box 308, Chennai – 600 002, Tamil Nadu |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
26.11.1914 |
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Com. Reg. No.: |
18-000008 |
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Capital Investment
/ Paid-up Capital : |
Rs. 54.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28939TN1914PLC000008 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEA00049A |
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PAN No.: [Permanent Account No.] |
AAACA5199H |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Cutting Tools |
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No. of Employees
: |
800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2700000 |
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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 old and established company having satisfactory track
record. The rating reflects established track record of business operation marked
by sound financial risk profile and fair profitability levels of the company.
Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered 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.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot. India-China
trade has reached $49.5 billion with a 8.7 % share in India’s total trade. The
US comes second at $46 billion with 8.1 % share during the first nine months of
the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787 Dreamliners.
The aircraft has experienced a series of malfunctions since its debut in 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. Radha |
|
Designation : |
Account Executive |
|
Contact No.: |
91-44-30277020 |
|
Date : |
03.04.2014 |
LOCATIONS
|
Registered Office : |
803, Anna Salai, Post Box 308, Chennai – 600 002, Tamil Nadu, India |
|
Tel. No.: |
91-44-30277020 |
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Fax No.: |
91-44-30277020 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
F65B, |
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Tel. No.: |
91-44-37180009 |
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Fax No.: |
91-44-37180010 |
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Branch Office 1 : |
Ahmedabad Branch
A/704, Wall Street, Nr Gujrat College, (Opp. to Orient Club), Tel. : 91-79-30072595 Fax : 91-79-30072590 |
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Branch Office 2 : |
Bangalore Branch 3rd Floor, Tower Block, Tel. : 91-80-22273547 Fax : 91-80-22130647 |
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Branch Office 3 : |
New Delhi Branch 3E/10, Jhandewalan Extension, Tel. : 91-11-30580116 (10 Lines) Fax : 91-11-23625094 |
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Branch Office 4 : |
Ludhiana Branch B-XV/135, G.T.Road, Miller Ganj, Tel. : 91-161-2534375 Fax : 91-161-3048301 |
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Branch Office 5 : |
Mumbai Branch 141, Shreejee Chambers, Opera House, Mama Paramanand Marg, Mumbai –
400 004, Tel. : 91-22- 23614692 Fax : 91-22- 23632176 |
DIRECTORS
As on: 26.07.2013
|
Name : |
Mr. M.L.S. Rao |
|
Designation : |
Director and Chief Executive |
|
Address : |
71/1, |
|
Date of Birth/Age : |
19.02.1932 |
|
Qualification : |
B.E. (Mechanical) |
|
Experience : |
54 Years |
|
Date of Appointment : |
01.11.1997 |
|
PAN No.: |
AALPS4121K |
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DIN No.: |
00208969 |
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|
|
|
Name : |
Mr. Anantharamakrishnan Krishnamoorthy |
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Designation : |
Director |
|
Address : |
‘Kalyani Mahal’, No. 1, |
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Date of Birth/Age : |
26.09.1937 |
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Date of Appointment : |
29.01.2011 |
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DIN No.: |
00001778 |
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|
|
|
Name : |
Mr. Pasalai Sankaran Rajamani |
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Designation : |
Director |
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Address : |
81B, Raghava Reddy Colony, Second Street, Ashok Nagar, Chennai –
600004, Tamil Nadu, India |
|
Date of Birth/Age : |
14.05.1950 |
|
Date of Appointment : |
22.08.2011 |
|
DIN No.: |
01560303 |
KEY EXECUTIVES
|
Name : |
Mr. T Sampath Kumar |
|
Designation : |
Company Secretary |
|
Address : |
New Door No. 9 (Old Door No. 3), |
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Date of Birth/Age : |
15.07.1957 |
|
Date of Appointment : |
01.04.2000 |
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PAN No. : |
AAIPS8229F |
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|
|
|
Name : |
Mr. Radha |
|
Designation : |
Account Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 26.07.2013
|
Names of Shareholders |
|
No. of Shares |
|
Simpson and Company Limited, |
|
539994 |
|
Anantharamakrishnan Krishnamoorthya and Simpson and Company Limited,
India |
|
1 |
|
M.L.S. Rao and Simpson and Company Limited, India |
|
1 |
|
|
|
1 |
|
N. V. and Simpson and Company Limited |
|
1 |
|
Amalgamations Private Limited and Simpson and company Limited, India |
|
1 |
|
S. Srinivasaraghavan and Simpson and Company Limited, India |
|
1 |
|
|
|
|
|
Total |
|
540000 |
Equity Share Break up (Percentage of Total Equity)
As on: 26.07.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cutting Tools |
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Products : |
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Exports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
800(Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
RGN Price and Company Chartered Accountants |
|
Address : |
Simpson’s Buildings, 861 Anna Salai, Chennai – 600 002, Tamil Nadu, |
|
PAN No.: |
AAAFR0615G |
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|
|
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Holding Company : |
Simpson and Company Limited CIN No.: U65991TN1925PLC002345 |
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Ultimate Holding Company : |
Amalgamations Private Limited CIN No.: U35999TN1938PTC000019 |
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Associates : |
·
Amalgamations Valeo Clutch Private Limited ·
Stanadyne Amalgamations Private Limited ·
Stanes MJF Teas Limited |
|
|
|
|
Fellow Subsidiaries : |
·
·
Alpump Limited ·
Amco Batteries Limited ·
Amalgamations Repco Limited ·
Associated Printers ( ·
Associated Publishers ( ·
BBL Daido Private Limited ·
Bimetal Bearings Limited ·
George Oakes Limited ·
Higginbothams Private Limited ·
India Pistons Limited ·
IP Rings Limited ·
IP Pins and Liners Limited ·
LM.Van Moppes Diamond Tools ·
Shardlow India Limited ·
Simpson and General Finance Company Limited ·
Speed-A-Way Fvt. Limited ·
Stanes Amalgamated Estates Limited ·
Sri Rama Vilas Service Limited ·
T Stanes and Company Limited ·
Stanes Motors ( ·
Stanes Agencies Limited ·
Stanes Motor Parts Limited ·
Tractors and Farm Equipment Limited ·
TAFE Access Limited ·
TAFE Motors & Tractors Limited ·
TAFE Reach Limited ·
TAL Precision Parts Limited ·
TAFE International Traktor Ve Tarim Ekipmani ·
Sanayi Ve Ticaret Limited Sirketi ·
Southern Tree Farms Limited ·
TAFE USA inc. ·
The Madras Advertising Company FyI Limited ·
Wallace Cartwright and Company Ltd ·
W.J.Groom and Company Limited ·
Wheel and Precision Forgings India Limited |
CAPITAL STRUCTURE
As on: 26.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.100/- each |
Rs.100.000 millions |
|
250000 |
Redeemable Preference Shares |
Rs.100/- each |
Rs.25.000 millions |
|
|
|
|
|
|
|
Total |
|
Rs.125.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
540000 |
Equity Shares |
Rs.100/- each |
Rs. 54.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
54.000 |
54.000 |
54.000 |
|
(b) Reserves & Surplus |
632.905 |
585.260 |
527.370 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
686.905 |
639.260 |
581.370 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
170.472 |
275.222 |
299.412 |
|
(b) Deferred tax liabilities
(Net) |
(70.663) |
67.033 |
51.677 |
|
(c) Other long term
liabilities |
321.053 |
163.975 |
152.323 |
|
(d) long-term provisions |
16.301 |
19.816 |
23.815 |
|
Total
Non-current Liabilities (3) |
437.163 |
526.046 |
527.227 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1,410.516 |
1,329.606 |
949.404 |
|
(b) Trade payables |
272.782 |
270.374 |
591.265 |
|
(c) Other current liabilities |
188.924 |
203.099 |
120.333 |
|
(d) Short-term provisions |
297.798 |
153.673 |
117.707 |
|
Total
Current Liabilities (4) |
2,170.020 |
1,956.752 |
1,778.709 |
|
|
|
|
|
|
TOTAL |
3,294.088 |
3,122.058 |
2,887.306 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
668.550 |
694.287 |
613.857 |
|
(ii) Intangible Assets |
0.000 |
6.696 |
0.000 |
|
(iii) Capital work-in-progress |
12.807 |
0.322 |
1.741 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
5.319 |
0.319 |
0.305 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
16.132 |
6.474 |
19.145 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
702.808 |
708.098 |
635.048 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1,741.834 |
1,682.024 |
1,683.508 |
|
(c) Trade receivables |
529.206 |
506.806 |
433.879 |
|
(d) Cash and cash equivalents |
13.686 |
25.597 |
7.177 |
|
(e) Short-term loans and
advances |
306.554 |
199.533 |
127.694 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
2,591.280 |
2,413.960 |
2,252.258 |
|
|
|
|
|
|
TOTAL |
3,294.088 |
3,122.058 |
2,887.306 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
2,977.318 |
3,008.372 |
2,373.768 |
|
|
Other Income |
32.233 |
30.445 |
22.565 |
|
|
TOTAL
(A) |
3,009.551 |
3,038.817 |
2,396.333 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1,474.464 |
1,497.881 |
1,108.942 |
|
|
Purchases of Stock-in-Trade |
9.686 |
12.653 |
31.422 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(89.155) |
(31.296) |
(83.361) |
|
|
Employees benefits expense |
351.340 |
300.424 |
257.979 |
|
|
Other expenses |
918.797 |
928.907 |
796.639 |
|
|
Extraordinary items |
0.000 |
(19.081) |
0.000 |
|
|
TOTAL
(B) |
2,665.132 |
2,689.488 |
2,111.621 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
344.419 |
349.329 |
284.712 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
193.309 |
193.582 |
167.229 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
151.110 |
155.747 |
117.483 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
60.030 |
46.673 |
46.305 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
91.080 |
109.074 |
71.178 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
24.607 |
32.356 |
20.806 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
66.473 |
76.718 |
50.372 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
11.490 |
8.572 |
2.600 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
45.000 |
55.000 |
30.000 |
|
|
Interim Dividend |
10.800 |
5.400 |
5.400 |
|
|
Proposed Final Dividend |
5.400 |
10.800 |
7.000 |
|
|
Tax on Dividend |
2.600 |
2.600 |
2.000 |
|
|
Balance
Carried to the B/S |
14.163 |
11.490 |
8.572 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
175.600 |
141.000 |
117.300 |
|
|
TOTAL
EARNINGS |
175.600 |
141.000 |
117.300 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
123.10 |
142.07 |
93.28 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.21 |
2.52 |
2.10 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.06 |
3.63 |
3.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.78 |
3.50 |
2.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.17 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.30 |
2.51 |
2.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19 |
1.23 |
1.27 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
54.000 |
54.000 |
54.000 |
|
Reserves & Surplus |
527.370 |
585.260 |
632.905 |
|
Net
worth |
581.370 |
639.260 |
686.905 |
|
|
|
|
|
|
long-term borrowings |
299.412 |
275.222 |
170.472 |
|
Short term borrowings |
949.404 |
1,329.606 |
1,410.516 |
|
Total
borrowings |
1,248.816 |
1,604.828 |
1,580.988 |
|
Debt/Equity
ratio |
2.148 |
2.510 |
2.302 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2,373.768 |
3,008.372 |
2,977.318 |
|
|
|
26.734 |
(1.032) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2,373.768 |
3,008.372 |
2,977.318 |
|
Profit |
50.372 |
76.718 |
66.473 |
|
|
2.12% |
2.55% |
2.23% |
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 |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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 |
No |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Short term
borrowings |
|
|
|
Working capital loans from banks |
459.815 |
418.666 |
|
|
|
|
|
Total |
459.815 |
418.666 |
OPERATING PERFORMANCE
In the backdrop of subdued economic conditions and sluggish performance across most industrial sectors, the Company was able to maintain the turnover achieved during the previous year. The turnover at Rs 3329.200 millions was marginally higher than the previous year’s turnover of Rs 3310.500 millions.
The turnover from the cutting tools business at Rs 2103.600 millions was higher by 2%, when compared with the previous year. Export turnover at Rs 182.700 millions recorded a growth of 19 % while the turnover in the Domestic market, at Rs 1920.900 millions, was marginally higher than the previous year. Turnover from the Foundry business at Rs 1187.200 millions was lower than the previous year by 2.5 %,due to the reduced offtake from the tractor industry .
The Company recorded Profit Before Tax of Rs 91.100 millions for the year ended 31st March 2013, compared to Rs 109.100 millions in the preceding year. Profit after Tax for the year was Rs 66.500 millions compared to Rs 76.700 millions in the preceding year.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10334087 |
01/02/2012 |
100,000,000.00 |
CENTRAL BANK OF INDIA LIMITED |
NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B31490733 |
|
2 |
10211105 |
24/03/2010 |
540,000,000.00 |
IDBI BANK LIMITED |
P. M. TOWERS, 37 GREAMES ROAD, CHENNAI, TAMIL NADU- 600006, INDIA |
A82779992 |
|
3 |
10182419 |
06/11/2013 * |
50,000,000.00 |
CENTRAL BANK OF INDIA LIMITED |
CORPORATE FINANCE BRANCH, 803 ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA |
B89280440 |
|
4 |
10159517 |
08/05/2009 |
620,500,000.00 |
IDBI BANK LIMITED |
P. M. TOWERS, 37, GREAMES ROAD, CHENNAI, TAMIL NADU - 600006, INDIA |
A62614524 |
|
5 |
90287115 |
14/10/2013 * |
720,000,000.00 |
CENTRAL BANK OF INDIA |
CORPORATE FINANCE BRANCH, ADDISON BUILDING 803 ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA |
B88394861 |
* Date of charge modification
FIXED ASSETS
·
Free
·
·
Buildings
·
Plant and Machinery
·
Furniture and Fittings
·
Electrical Installations
·
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. 59.95 |
|
|
1 |
Rs. 99.36 |
|
Euro |
1 |
Rs. 82.15 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.