MIRA
INFORM REPORT
|
Report Date : |
28.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
TOPWORTH PIPES AND TUBES PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
AKSHATA PIPE INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Village – Hedavali, Khopoli Pali Road, Taluka-Sudhagad, Khopoli –
410205, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
18.11.2005 |
|
|
|
|
Com. Reg. No.: |
11-157395 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.540.098 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29120MH2005PTC157395 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of ERW black and galvanized pipes from 15 mm to 100 mm. |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 11000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating takes into consideration company’s improvement in financial
performance supported by decent profitability achieved by the company during
financial year 2013. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for business dealings 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 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 |
CARE |
|
Rating |
Long Term Bank Facilities=BB- |
|
Rating Explanation |
Moderate risk of default and high credit
risk. |
|
Date |
12.03.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities=A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
12.03.2013 |
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 DENIED BY
|
Name : |
Mr. Rajesh Pandey |
|
Designation : |
Accounts Head |
|
Contact No.: |
91-22-22841414 |
|
Date : |
25.04.2014 |
LOCATIONS
|
Registered Office : |
Village – Hedavali, Khopoli Pali Road, Taluka-Sudhagad, Khopoli –
410205, Maharashtra |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
308, 3rd Floor, Ceejay House, Dr. Annie Besant Road, Worli,
Mumbai – 400018, Maharashtra, India |
|
Tel No.: |
91-22-24812000 |
|
Fax No.: |
91-22-24812122 |
|
E-Mail : |
|
|
|
|
|
Administration Office : |
Office No 205, 2nd Floor, Raheja Centre, Free press Journal
Marg, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
|
|
|
Branch Office: |
Plot No.26 A, Sector - 07, Kharghar, Navi Mumbai – 410210,
Maharashtra, India |
|
Tel No.: |
91-22-27746017/ 18 |
|
Fax No.: |
91-22-27746015 |
DIRECTORS
AS ON 26.09.2013
|
Name : |
Mr. Abhay Narendra Lodha |
|
Designation : |
Director |
|
Address : |
602, Vaitarna, |
|
Date of Birth/Age : |
01.06.1971 |
|
Date of Appointment : |
18.11.2005 |
|
DIN No.: |
00052194 |
|
|
|
|
Name : |
Mr. Ashwin Narendra Lodha |
|
Designation : |
Director |
|
Address : |
502, Vaitarna, |
|
Date of Birth/Age : |
03.05.1975 |
|
Date of Appointment : |
18.11.2005 |
|
DIN No.: |
00066948 |
|
|
|
|
Name : |
Mrs. Kanchan Murarka |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
06.01.1966 |
|
Date of Appointment : |
23.09.2008 |
|
DIN No.: |
00058823 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh Pandey |
|
Designation : |
Accounts Head |
MAJOR SHAREHOLDERS
AS ON 26.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Abhay N. Lodha |
2749750 |
5.09 |
|
Ashwin N. Lodha |
2333500 |
4.32 |
|
Vaibhav Loadha |
3000 |
0.01 |
|
Akshata Retailers Private Limited, |
21625000 |
40.04 |
|
Pheonix Retailers Private Limited, |
14965000 |
27.71 |
|
Excel Global Fze |
4833530 |
8.95 |
|
Riya Real Estates Private Limited |
7500000 |
13.89 |
|
Total |
54009780 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 26.09.2013
|
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 |
8.95 |
|
Bodies corporate |
81.63 |
|
Directors or relatives of Directors |
9.42 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of ERW black and galvanized pipes from 15 mm to 100 mm. |
|
|
|
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
Bank of ·
HDFC Bank Limited ·
ICICI Bank ·
Oriental Bank of Commerce ·
Kotak Mahindra Private Limited ·
Punjab National Bank ·
Allahabad Bank, Industrial Finance Branch,
37,Mumbai Samachar Marg, Fort, Mumbai - 400023, Maharashtra, India ·
State Bank of Patiala, Commercial Branch,
Atlanta 1st Floor, Jamnalal Bajaj Marg,
Nariman Point, Mumbai - 400021, Maharashtra, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jasraj Rathi Chartered Accountant |
|
Address : |
Flat No.102-103, Building No.7, Agarwal Nagari, Nalasapora, |
|
PAN.: |
AATPR6097F |
|
|
|
|
Associate
Companies : |
·
Akshata Mercantile Private Limited ·
Topworth Urja and Metals limited ·
Topworth Steel and Power Private
Limited ·
Topworth Infra Private Limited |
CAPITAL STRUCTURE
AS ON 26.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
Rs.10/- each |
Rs.600.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
54009780 |
Equity Shares |
Rs.10/- each |
Rs.540.098 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 |
540.098 |
390.098 |
323.848 |
|
(b) Reserves & Surplus |
2,379.939 |
1,675.342 |
1,433.908 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
265.000 |
|
Total
Shareholders’ Funds (1) + (2) |
2,920.037 |
2,065.440 |
2,022.756 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1,997.691 |
2,350.207 |
2,721.646 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
1,650.000 |
1,300.000 |
900.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
3,647.691 |
3,650.207 |
3,621.646 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
775.898 |
801.820 |
671.138 |
|
(b) Trade payables |
4,935.621 |
3,536.001 |
3,575.867 |
|
(c) Other current
liabilities |
449.904 |
344.605 |
45.533 |
|
(d) Short-term provisions |
175.989 |
87.783 |
82.208 |
|
Total Current Liabilities (4) |
6,337.412 |
4,770.209 |
4,374.746 |
|
|
|
|
|
|
TOTAL |
12,905.140 |
10,485.856 |
10,019.148 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3,990.591 |
4,160.245 |
4,108.519 |
|
(ii) Intangible Assets |
2.214 |
3.670 |
0.366 |
|
(iii) Capital
work-in-progress |
225.013 |
106.227 |
200.069 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
4,217.818 |
4,270.142 |
4,308.954 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3,465.389 |
2,308.236 |
1,675.013 |
|
(c) Trade receivables |
3,743.799 |
2,541.887 |
3,136.776 |
|
(d) Cash and cash
equivalents |
653.284 |
662.131 |
412.573 |
|
(e) Short-term loans and
advances |
824.718 |
703.285 |
484.599 |
|
(f) Other current assets |
0.132 |
0.175 |
1.233 |
|
Total Current Assets |
8,687.322 |
6,215.714 |
5,710.194 |
|
|
|
|
|
|
TOTAL |
12,905.140 |
10,485.856 |
10,019.148 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
15614.897 |
10532.978 |
5682.127 |
|
|
|
Other Income |
2.554 |
18.761 |
2.862 |
|
|
|
TOTAL (A) |
15617.451 |
10551.739 |
5684.989 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
14549.948 |
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
14549.948 |
9752.565 |
5330.295 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1067.503 |
799.174 |
354.694 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
532.953 |
542.647 |
178.398 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
534.550 |
256.527 |
176.296 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
216.273 |
203.167 |
111.207 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
318.277 |
53.360 |
65.089 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
63.680 |
10.677 |
13.274 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
254.597 |
42.683 |
51.815 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
88.528 |
174.188 |
11.345 |
|
|
|
|
|
|
|
|
|
|
TOTAL IMPORTS |
53.579 |
498.333 |
1421.535 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.45 |
1.32 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.63 |
0.40 |
0.91 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.04 |
0.51 |
1.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.51 |
0.51 |
0.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.03 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.95 |
1.53 |
1.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37 |
1.30 |
1.31 |
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 |
323.848 |
390.098 |
540.098 |
|
Reserves & Surplus |
1433.908 |
1675.342 |
2379.939 |
|
Share Application money pending
allotment |
265.000 |
0.000 |
0.000 |
|
Net
worth |
2022.756 |
2065.440 |
2920.037 |
|
|
|
|
|
|
long-term borrowings |
2721.646 |
2350.207 |
1997.691 |
|
Short term borrowings |
671.138 |
801.820 |
775.898 |
|
Total
borrowings |
3392.784 |
3152.027 |
2773.589 |
|
Debt/Equity
ratio |
1.677 |
1.526 |
0.950 |
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 |
5,682.127 |
10,532.978 |
15,614.897 |
|
|
|
85.370 |
48.248 |
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
|
5,682.127 |
10,532.978 |
15,614.897 |
|
Profit |
51.815 |
42.683 |
254.597 |
|
|
0.91% |
0.41% |
1.63% |
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 |
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 |
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 |
NOTE: Registered office address
of the company has been shifted from “Raheja Centre, Office No.4, Ground Floor,
214, Free Press, Journal Marg, Nariman Point, Mumbai – 400021, Maharashtra” to
the present address w.e.f. 19.11.2012
REVIEW OF OPERATIONS:
During the year,
the Company’s Net Income from operations stood at Rs.15614.897 Millions as
compared to Rs.10532.978 Millions in the previous year. Profit before finance
cost and taxation for the year stood at Rs.851.230 Millions against Rs.596.007
Millions in the previous year. Profit after Tax increased from Rs.42.683
Millions in previous year to Rs.254.597 Millions in the year.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10467916 |
14/12/2013 |
700,000,000.00 |
STATE
BANK OF PATIALA |
COMMERCIAL
BRANCH, ATLANTA 1ST FLOOR,, JAMNALAL BAJAJ MARG,, NARIMAN POINT, MUMBAI,
MAHARASHTRA - 400021, INDIA |
B92646090 |
|
2 |
10469520 |
17/12/2013
* |
200,000,000.00 |
PUNJAB
NATIONAL BANK |
FORESHORE
ROAD BRANCH,, 1ST FLOOR, RAHEJA CHAMBERS, NARIMAN POINT,, MUMBAI, MAHARASHTRA
- 400021, INDIA |
B94218955 |
|
3 |
10434655 |
04/06/2013 |
100,000,000.00 |
PUNJAB
NATIONAL BANK |
FORESHORE
ROAD BRANCH,, 1ST FLOOR, RAHEJA CHAMBER |
B78650926 |
|
4 |
10429620 |
16/05/2013 |
250,000,000.00 |
ALLAHABAD
BANK |
INDUSTRIAL
FINANCE BRANCH, 37,MUMBAI SAMACHAR MARG,FORT, MUMBAI, MAHARASHTRA - 400023,
INDIA |
B76533330 |
|
5 |
10397963 |
29/12/2012 |
130,000,000.00 |
ALLAHABAD
BANK |
INDUSTRIAL
FINANCE BRANCH, 37,MUMBAI SAMACHAR MARG,FORT, MUMBAI, MAHARASHTRA - 400023,
INDIA |
B66218405 |
|
6 |
10396896 |
24/12/2012 |
300,000,000.00 |
STATE
BANK OF PATIALA |
COMMERCIAL
BRANCH, ATLANTA 1ST FLOOR,, JAMNALAL BAJAJ MARG,, NARIMAN POINT, MUMBAI,
MAHARASHTRA - 400021, INDIA |
B65850232 |
|
7 |
10392372 |
18/12/2012 |
300,000,000.00 |
ALLAHABAD
BANK |
INDUSTRIAL
FINANCE BRANCH, 37,MUMBAI SAMACHAR MARG,FORT, MUMBAI, MAHARASHTRA - 400023,
INDIA |
B64290299 |
|
8 |
10389242 |
03/12/2012 |
380,000,000.00 |
BANK
OF BARODA |
FORT
UNIVERSITY BRANCH, 119, MAHATMA GANDHI MARG, AGRA BUILDING, MUMBAI,
MAHARASHTRA - 400001, INDIA |
B63070064 |
|
9 |
10369055 |
11/07/2012 |
625,000.00 |
ORIENTAL
BANK OF COMMERCE |
BELAPUR
BRANCH, SHOP NO. 51, PLOT NO. 7,, SECTOR-1A, CBD BELAPUR, NAVI MUMBAI,
MAHARASHTRA - 400614, INDIA |
B45098928 |
|
10 |
10363540 |
11/05/2012 |
20,000,000.00 |
ORIENTAL
BANK OF COMMERCE |
OVERSEAS
BRANCH, DALAMAL TOWERS, GR. FLOOR, NARIMAN POINT,, MUMBAI, MAHARASHTRA -
400021, INDIA |
B42834267 |
|
11 |
10346400 |
26/03/2012 |
75,000,000.00 |
PUNJAB
NATIONAL BANK |
FORESHORE
ROAD BRANCH,, 1ST FLOOR, RAHEJA CHAMBERS, NARIMAN POINT,, MUMBAI, MAHARASHTRA
- 400021, INDIA |
B36613602 |
|
12 |
10286870 |
27/04/2011 |
5,350,000,000.00 |
PUNJAB
NATIONAL BANK-AS LEAD BANK |
FORESHORE
ROAD BRANCH,, 1ST FLOOR, RAHEJA CHAMBERS, NARIMAN POINT,, MUMBAI, MAHARASHTRA
- 400021, INDIA |
B12807848 |
|
13 |
10267700 |
04/12/2010 |
700,000,000.00 |
SYNDICATE
BANK |
PRABHADEVI
BRANCH, G-001, RAJAN HOUSE,, A.S. MARA THE MARG, PRABHADEVI,, MUMBAI,
MAHARASHTRA - 400025, INDIA |
B03804937 |
|
14 |
10255033 |
15/11/2010 |
819,200,000.00 |
STATE
BANK OF INDIA |
BACKBAY
RECLATMATION BRANCH, RAHEJA CHAMBARS,, FREE PRESS JOURNAL ROAD, NARIMAN
POINT, MUMBAI, MAH |
B00832980 |
|
15 |
10295406 |
28/09/2010 |
1,010,000,000.00 |
STATE
BANK OF PATIALA |
ATLANTA,
1ST FLOOR, JAMNALAL BAJAJ MARG,, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021,
INDIA |
B02696961 |
|
16 |
10299942 |
11/08/2010 |
1,400,000,000.00 |
BANK
OF BARODA |
FORT
UNIVERSITY BRANCH, MUMBAI, MAHARASHTRA - 400023, INDIA |
B06969000 |
|
17 |
10225126 |
08/06/2010 |
1,850,000,000.00 |
PUNJAB
NATIONAL BANK |
FORESHORE
ROAD BRANCH,, 1ST FLOOR, RAHEJA CHAMBERS, NARIMAN POINT,, MUMBAI, MAHARASHTRA
- 400021, INDIA |
A87749586 |
|
18 |
10210495 |
08/12/2010
* |
400,000,000.00 |
ORIENTAL
BANK OF COMMERCE |
PRABHADEVI
BRANCH,AMAN CHAMBERS, 1ST FLOOR,, VEER |
B02626380 |
|
19 |
10152388 |
20/03/2010
* |
2,923,600,000.00 |
PUNJAB
NATIONAL BANK-AS SECURITY TRUSTEE |
FORESHORE
ROAD BRANCH,, 1ST FLOOR, RAHEJA CHAMBERS, NARIMAN POINT,, MUMBAI, MAHARASHTRA
- 400021, INDIA |
A82394164 |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Vehicles
·
IT Equipment
·
Software
·
Office Equipment
·
Furniture and
Fixture
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 records 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] 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.61.07 |
|
|
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.84.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
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.