MIRA INFORM REPORT
|
Report Date : |
17.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
SEVENHILLS HEALTHCARE PRIVATE LIMITED (w.e.f. 08.12.2008) |
|
|
|
|
Formerly Known
as : |
SEVENHILLS HEALTHCARE LIMITED |
|
|
|
|
Registered
Office : |
11-4-4/A, Rockdale Layout, Waltair Main Road, Visakhapatnam – 530002,
Andhra Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
13.04.2004 |
|
|
|
|
Com. Reg. No.: |
01-043050 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.909.884 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85110AP2004PTC043050 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICS2229N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
It’s a Hospital. |
|
|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 9800000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating reflects below average financial risk profile marked by
continuous losses that company has incurred from its operation and increased
in external borrowing of the company over previous year. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some caution. |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating=B+ |
|
Rating Explanation |
Risk prone credit quality and high risk of
default. |
|
Date |
28.03.2014 |
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. Suresh Gajula |
|
Designation : |
Purchase Executive |
|
Contact No.: |
91-22-67676767 |
|
Date : |
15.04.2014 |
LOCATIONS
|
Registered Office : |
11-4-4/A, Rockdale Layout, Waltair Main Road, Visakhapatnam – 530002, Andhra
Pradesh, India |
|
Tel. No.: |
91-891-2525757 / 6677777 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Sevenhills Health City, Marol Maroshi Road, Andheri (East), Mumbai –
400059, Maharashtra, India |
|
Tel. No.: |
91-22-67676767 |
|
Location : |
Owned |
DIRECTORS
AS ON 25.09.2013
|
Name : |
Dr. Jitendra Das Maganti |
|
Designation : |
Chairman cum-Managing Director |
|
Address : |
House No.36, Ward No.05, Balaji Baymount, Tarakarama Layout, Peda
Rushikonda, Visakhapatnam – 530045, Andhra Pradesh, India |
|
Date of Birth/Age : |
24.06.1955 |
|
Date of Appointment : |
13.04.2004 |
|
DIN No.: |
00085118 |
|
|
|
|
Name : |
Mr. Maganti Renukarani |
|
Designation : |
Whole-time Director |
|
Address : |
House No.36, Ward No.05, Balaji Baymount, Tarakarama Layout, Peda Rushikonda,
Visakhapatnam – 530045, Andhra Pradesh, India |
|
Date of Birth/Age : |
12.03.1961 |
|
Date of Appointment : |
13.04.2006 |
|
DIN No.: |
00085209 |
|
|
|
|
Name : |
Mr. Vankineni Kuchela Babu |
|
Designation : |
Director |
|
Address : |
Flat No.9-17-28/5, Gitanjali Apartments, CBM Compound, Visakhapatnam –
530003, Andhra Pradesh, India |
|
Date of Birth/Age : |
05.03.1951 |
|
Date of Appointment : |
05.04.2006 |
|
DIN No.: |
00085187 |
|
|
|
|
Name : |
Mt. Nandamuri Prabhakara Babu |
|
Designation : |
Whole-time Director |
|
Address : |
401, Vietla Vantage, Vijayanagar Palace Layout, Peda Waltair Junction,
Visakhapatnam – 530017, Andhra Pradesh, India |
|
Date of Birth/Age : |
13.08.1955 |
|
Date of Appointment : |
13.04.2006 |
|
DIN No.: |
00085243 |
|
|
|
|
Name : |
Mr. Tanmaya Misra |
|
Designation : |
Nominee Director |
|
Address : |
22, Palm Crest, 191-192 St. Paul Road, Bandra (West), Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/Age : |
03.05.1970 |
|
Date of Appointment : |
28.03.2011 |
|
DIN No.: |
02309166 |
|
|
|
|
Name : |
Ms. Kavita Saha |
|
Designation : |
Nominee Director |
|
Address : |
D-201, Spring Field Co-operative Housing Society Limited, Plot No.115-116,
Lokhandwala Complex, Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Date of Birth/Age : |
14.07.1971 |
|
Date of Appointment : |
28.03.2013 |
|
DIN No.: |
03313543 |
|
|
|
|
Name : |
Mr. Lee Chee Kien |
|
Designation : |
Director |
|
Address : |
Unit C 43/F, Tower 3, Sorrento 1 Austin Road, West Tsim Sha Tsui,
Kowloon, Hong Kong |
|
Date of Birth/Age : |
21.10.1969 |
|
Date of Appointment : |
28.03.2013 |
|
DIN No.: |
06529440 |
KEY EXECUTIVES
|
Name : |
Ms. Chhaya Jain |
|
Designation : |
Secretary |
|
Address : |
32/415, Arjun Vihar, New Delhi – 110010, India |
|
Date of Birth/Age : |
17.08.1976 |
|
Date of Appointment : |
01.07.2008 |
|
PAN No.: |
AFDPJ6238D |
MAJOR SHAREHOLDERS
AS ON 25.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Dr. Jitendra Das Maganti |
615789 |
0.68 |
|
Dr. Renuka Rani Maganti |
898786 |
0.99 |
|
Jitendra Das Maganti as Karta of Maganti Jitendra Das (HUF) |
49438925 |
54.34 |
|
AIRRO (Mauritius) Holdings 1, Mauritius |
40034893 |
44.00 |
|
Total |
90988393 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 25.09.2013
|
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 |
44.00 |
|
Directors or relatives of Directors |
56.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
It’s a Hospital. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
No. of Employees : |
1000 (Approximately) |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Bankers : |
·
Allahabad Bank, Industrial Finance Branch, 2nd
Floor, Allahabad Bank Building, 37 M. S. Marg, Fort, Mumbai – 400023,
Maharashtra, India ·
Axis Bank Limited ·
Canara Bank ·
Central Bank of India ·
Punjab and Sind Bank ·
State Bank of Hyderabad ·
State Bank of Travancore ·
State Bank of Mysore ·
State Bank of Patiala ·
UCO bank ·
Union Bank of India |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B S R R and Company Chartered Accountants |
|
Address : |
Reliance
Humsafar , Banjara Hills, 4th Floor, Road No 11, Hyderabad –
500034, Andhra Pradesh, India |
|
PAN No.: |
AAKFB1884H |
CAPITAL STRUCTURE
AFTER 25.09.2013
Authorised Capital : Rs.4010.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.943.430
Millions
AS ON 25.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
401000000 |
Equity Shares |
Rs.10/- each |
Rs.4010.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90988393 |
Equity Shares |
Rs.10/- each |
Rs.909.884 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 |
909.884 |
3,509.535 |
3,509.535 |
|
(b) Reserves & Surplus |
1,543.019 |
(1,459.593) |
(487.855) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
10.000 |
|
Total
Shareholders’ Funds (1) + (2) |
2,452.903 |
2,049.942 |
3,031.680 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
7,020.685 |
6,445.978 |
5,556.349 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
3.836 |
10.276 |
8.793 |
|
Total Non-current Liabilities
(3) |
7,024.521 |
6,456.254 |
5,565.142 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
528.874 |
527.500 |
510.774 |
|
(b) Trade
payables |
306.527 |
222.827 |
89.232 |
|
(c) Other
current liabilities |
675.108 |
1,248.014 |
949.335 |
|
(d) Short-term
provisions |
13.072 |
0.608 |
0.617 |
|
Total Current
Liabilities (4) |
1,523.581 |
1,998.949 |
1,549.958 |
|
|
|
|
|
|
TOTAL |
11,001.005 |
10,505.145 |
10,146.780 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
7,152.077 |
6,604.964 |
4,837.953 |
|
(ii)
Intangible Assets |
5.587 |
8.528 |
11.319 |
|
(iii)
Capital work-in-progress |
2,676.240 |
3,222.920 |
4,195.561 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.003 |
0.009 |
0.009 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
211.255 |
172.367 |
330.582 |
|
(e) Other Non-current
assets |
199.182 |
229.423 |
253.642 |
|
Total Non-Current
Assets |
10,244.344 |
10,238.211 |
9,629.066 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
38.897 |
40.564 |
53.070 |
|
(c) Trade
receivables |
159.825 |
126.195 |
98.193 |
|
(d) Cash
and cash equivalents |
471.834 |
6.981 |
317.177 |
|
(e)
Short-term loans and advances |
16.430 |
28.040 |
27.681 |
|
(f) Other
current assets |
69.675 |
65.154 |
21.593 |
|
Total Current
Assets |
756.661 |
266.934 |
517.714 |
|
|
|
|
|
|
TOTAL |
11,001.005 |
10,505.145 |
10,146.780 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Income |
1420.398 |
1142.376 |
811.011 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL INCOME (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
25.544 |
(78.846) |
(136.611) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
983.912 |
601.827 |
351.732 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
(958.368) |
(680.673) |
(488.343) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
258.856 |
220.477 |
189.201 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G)
|
(1217.224) |
(901.150) |
(677.544) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(20.185) |
70.588 |
(81.793) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
(1197.039) |
(971.738) |
(595.751) |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (Rs.) |
(13.16) |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(14.62) |
(12.37) |
(11.38) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.50) |
(0.44) |
(0.22) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.08 |
3.40 |
2.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.50 |
0.13 |
0.33 |
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 |
3509.535 |
3509.535 |
909.884 |
|
Reserves & Surplus |
(487.855) |
(1459.593) |
1543.019 |
|
Net
worth |
3021.680 |
2049.942 |
2452.903 |
|
|
|
|
|
|
long-term borrowings |
5556.349 |
6445.978 |
7020.685 |
|
Short term borrowings |
510.774 |
527.500 |
528.874 |
|
Total
borrowings |
6067.123 |
6973.478 |
7549.559 |
|
Debt/Equity
ratio |
2.008 |
3.402 |
3.078 |
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 |
|
Gross Income |
811.011 |
1,142.376 |
1,420.398 |
|
|
|
40.858 |
24.337 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Gross Income |
811.011 |
1,142.376 |
1,420.398 |
|
Profit |
(595.751) |
(971.738) |
(1,197.039) |
|
|
(73.46%) |
(85.06%) |
(84.27%) |
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 |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
REVIEW OF OPERATIONS:
During the year
subject has recorded an income of Rs.1420.398 Millions in aggregate from the
Vizag and Mumbai hospitals which is higher by 24% to the previous year’s income
of Rs.1142.375 Millions. Subject has incurred an expenditure of Rs.2637.623
Millions during the year in comparison to Rs.2043.526 Millions incurred during
last year.
Subject has
recorded a gross operating profit of Rs.25.544 Millions during the year under
review as against the gross operating loss of Rs.78.846 Millions incurred during
the last year. The gross profit is mainly due to higher operational income and
controlled operational expenses. However Subject has incurred a net loss of
Rs.1197.039 Millions during the reporting year as compared to the net loss of
Rs.971.738 Millions recorded during the last year. The loss is mainly on
account of high interest burden.
The performance of
Subject has been improving and encouraging. Various measures have been
initiated for increasing the revenue of the Company. Rajiv Gandhi Jeevandayee
Arogya Yojana, the health insurance scheme of the State Government of
Maharashtra was launched in July 2012. Seven Hills hospital, Mumbai was
instrumental in implementing the Scheme and has committed upto 300-500 beds for
the scheme. The Scheme has successfully completed one year with over 2800
patients have been treated at the hospital, being the highest number of
patients treated in any private hospital in Mumbai. The implementation of the
Scheme coupled with the improving level of current operations has helped in
registering better results in the reported year.
The 100 bed
extension ward in Seven Hills Hospital, Vizag has been partially put to
operation during the period.
Subject is
exploring various marketing strategies for each of its revenue vertical to
increase its local patient base and is also focusing on medical tourism.
Subject is also applying for empanelment for state governed CGHS and ECHS
scheme to increase the utilization of beds.
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Loans Repayable
on Demand |
23.000 |
25.500 |
|
|
|
|
|
Total |
23.000 |
25.500 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10429564 |
30/03/2012 |
1,500,000,000.00 |
AXIS
TRUSTEE SERVICES LIMITED |
AXIS
HOUSE, 2ND FLR, BOMBAY DYEING MILLS COMPOUD, PANDURANG BUDHKAR MARG, WORLI,
MUMBAI, MAHARASHTR |
B64860257 |
|
2 |
10247304 |
26/11/2010
* |
8,570,000,000.00 |
AXIS
TRUSTEE SERVICES LIMITED |
MAKER
TOWERS "F" WING, 13TH FLOOR, CUFFE PARADE COLABA, MUMBAI,
MAHARASHTRA - 400005, INDIA |
B01175637 |
|
3 |
10191169 |
16/12/2009 |
100,000,000.00 |
STATE
BANK OF HYDERABAD |
SIRIPURAM
BRANCH, OPPOSITE SEVEN HILLS HOSPITAL, RAMNAGAR, VISAKHAPATNAM, ANDHRA
PRADESH - 530002, INDIA |
A75374975 |
|
4 |
10009626 |
18/12/2013
* |
6,248,000,000.00 |
ALLAHABAD
BANK (LEAD BANK) |
INDUSTRIAL
FINANCE BRANCH, 2ND FLOOR, ALLAHABAD BANK BLDG, 37 M.S. MARG, FORT, MUMBAI,
MAHARASHTRA |
B93951499 |
|
5 |
90127415 |
14/04/1989 |
204,000.00 |
DCL
FINANCE LTD |
6-3-666/B.DECCAN
CHAMBERS, 6TH FLOOR SOMAJIGUDA, |
- |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Building
·
Plant and machinery
·
Furniture and fixture
·
Computer
·
Office equipment
·
Vehicle
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.60.23 |
|
|
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.83.29 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
27 |
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.