MIRA
INFORM REPORT
|
Report Date : |
01.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
UMW DONGSHIN MOTECH PRIVATE LIMITED (w.e.f. 19.11.2009) |
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|
|
|
Formerly Known
As : |
DONGSHIN MOTECH PRIVATE LIMITED |
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Registered
Office : |
Plot No. A-19, Talegaon Industrial Area, Village Navlakhumbre, Taluka Maval, Pune – 410507, |
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Country : |
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Financials (as
on) : |
31.03.2014 (Provisional) |
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Date of
Incorporation : |
16.04.2007 |
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|
|
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Com. Reg. No.: |
11-133046 |
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Capital
Investment / Paid-up Capital : |
Rs. 727.770 Millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U29255PN2007PTC133046 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEU06667D |
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PAN No.: [Permanent Account No.] |
AACCD5858L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is a single source strategic supplier of critical auto structural
components, including chassis parts, as well as manufacturing of complex
value added robotic assemblies. The parts are technically called BIW of ‘Body
in White’ parts. Subject is supplying to all major OEM’s like General Motors,
Volkswagen, Benteler, Ford, Honda, etc. |
|
|
|
|
No. of Employees
: |
200(Approximately) (Including Contract Workers 400) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of MK Automotive Industries Limited, Malaysia. Its is an established company having moderate track record. Mr. Debashish Das Gupta C.F.O provided all information and also
provided provisional financials for the year 2014. As per available audited financials of 2013, the company has recorded
huge accumulated losses. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow but correct. In view of strong holding, the company can be considered for business
dealings with some cautions. Note: As per the
provisional financial of 2014, the company has incurred huge accumulated
which has resulted into fully erosion of net worth however, rating takes into
consideration the strong managerial support received from the parent company. |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the GDP
of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Debashish Das Gupta |
|
Designation : |
Chief Financial Officer |
|
Contact No.: |
91-9763719710 |
|
Date : |
31.07.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. A-19, Talegaon Industrial Area, Village Navlakhumbre, Taluka Maval, Pune – 410507,
Maharashtra, India |
|
Tel. No. : |
91-2114-306035/ 306041 91-20-26608813 |
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Mobile No. : |
91-9763719710 (Mr. Debashish Das Gupta) |
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Fax No. : |
91-2114-306010 |
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E-Mail : |
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Website : |
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Area : |
8.5 Acres |
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Location : |
Owned |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Choon Woo Lim |
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Designation : |
Director |
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Address : |
29, Devadi Street, Mylapore, Chennai – 600004, Tamilnadu, India |
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Date of Birth/Age : |
06.12.1964 |
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Qualification : |
Graduate |
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Date of Appointment : |
16.04.2007 |
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DIN No.: |
01381510 |
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Name : |
Mr. Muthukumar Ayarpadde |
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Designation : |
Additional Director |
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Address : |
No.66, Jalan Setiajaya Bukit Damansara, Kualalumpur, Malaysia - 50490 |
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Date of Birth/Age : |
13.07.1972 |
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Qualification : |
Graduate |
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Date of Appointment : |
27.07.2007 |
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DIN No.: |
01799039 |
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Other Directorship :
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Name : |
Mr. Syed Hisham Bin Syed Wazir |
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Designation : |
Director |
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Address : |
No.1, Jalan USJ, 18/7, UEP Subang Jaya, Selangor - 47630, Malaysia |
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Date of Birth/Age : |
26.06.1954 |
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Qualification : |
Graduate |
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Date of Appointment : |
06.10.2010 |
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DIN No.: |
03281121 |
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Other Directorship :
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Name : |
Megat Shahrul Azmir Bin Nordin |
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Designation : |
Director appointed in casual vacancy |
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Address : |
No.38, Jalan Teratak U8/95A, Bukit Jelutong, Shah Alam, Selangor Darul
Ehsan, Malaysia 40150 |
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Date of Birth/Age : |
12.04.1970 |
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Date of Cessation : |
24.03.2012 |
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DIN No.: |
05237306 |
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Other Directorship :
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Name : |
Azmin Bin Che Yusoff |
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Designation : |
Additional Director |
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Address : |
Lot. No. Pt 4445, JLN 6/71B, KG.SG. Penchala, Jalan, Damansara, Kuala
Lumpur‐60000 |
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Date of Birth/Age : |
23.09.1958 |
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Date of Appointment : |
24.06.2013 |
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DIN No. : |
06615764 |
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KEY EXECUTIVES
|
Name : |
Mr. Darshit Prakash Parikh |
|
Designation : |
Secretary |
|
Address : |
302, 3rd Floor, Karishma Enclave, Babhai Naka, Borivali (West), Mumbai – 400092, Maharashtra, India |
|
Date of Appointment : |
04.06.2013 |
|
PAN No. : |
AKFPP7368B |
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|
|
|
Name : |
Mr. Debashish Das Gupta |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Dongshin Motech Company Limited, Korea |
24165560 |
|
MK Automotive Industries Limited, Malaysia |
53111480 |
|
Total |
77277040 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is a single source strategic supplier of critical auto structural
components, including chassis parts, as well as manufacturing of complex
value added robotic assemblies. The parts are technically called BIW of ‘Body
in White’ parts. Subject is supplying to all major OEM’s like General Motors,
Volkswagen, Benteler, Ford, Honda, etc. |
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|
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Products : |
|
||||||||||||||||||
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Imports : |
|
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Products : |
Spare Parts, Steel, etc |
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Countries : |
Korea |
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|
|
||||||||||||||||||
|
Terms : |
|
||||||||||||||||||
|
Selling : |
Cash, Credit (30 Days and 60 Days) and they have long term contract
with OEM’s |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Purchasing : |
Cash, Credit, L/C and TT |
GENERAL INFORMATION
|
Suppliers : |
Posco IPPC, Talegaon |
|
|
|
|
Customers : |
OEM’s · General Motors Limited, Talegaon |
|
|
|
|
No. of Employees : |
200(Approximately) (Including Contract Workers 400) |
|
|
|
|
Bankers : |
Standard Chartered Bank, Crescenzo, Plot No.C-38 and 39, G Block,
Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India Standard Chartered Bank, 90, M G Road, Fort,, Mumbai -
400001, Maharashtra, India |
|
|
|
|
Facilities : |
Working Capital : Rs. 85.000 Millions (From Standard Chartered Bank) Term Loan : Rs. 325.000 Millions (From Standard Chartered Bank) |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
SNDA and Associates Chartered Accountants |
|
Address : |
2, Alankar Apartments, S No.26/14, Shivajinagar, Near Sakhar Sankul,
Pune - 411005, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ABLFS4120K |
|
|
|
|
Holding Company : |
MK Automotive Industries Limited, Malaysia |
|
|
|
|
Associates: |
· Dongshin Modtech Co. Limited Mktron Holding SDN BHD TNM Metal Private Limited International Brass Industries SDN BHD |
|
|
|
|
Other Related
Parties: |
· UMW Oilfield International (L) Limited UMW Corporation SDN. BHD. UMW M and E Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 1000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
77,277,040 |
Equity Shares |
Rs.10/- each |
Rs. 772.770 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 (Provisional) |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
772.770 |
772.770 |
604.139 |
|
(b) Reserves & Surplus |
(827.440) |
(642.453) |
(413.200) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
93.726 |
|
Total
Shareholders’ Funds (1) + (2) |
(54.670) |
130.317 |
284.665 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1738.964 |
962.435 |
790.045 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
2.802 |
12.034 |
10.344 |
|
(d) long-term provisions |
0.000 |
1.445 |
5.335 |
|
Total Non-current Liabilities (3) |
1741.766 |
975.914 |
805.724 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
35.978 |
0.000 |
471.710 |
|
(b) Trade payables |
246.221 |
62.110 |
130.034 |
|
(c) Other current
liabilities |
48.926 |
631.654 |
184.678 |
|
(d) Short-term provisions |
4.226 |
1.657 |
0.920 |
|
Total Current Liabilities (4) |
335.351 |
695.421 |
787.342 |
|
|
|
|
|
|
TOTAL |
2022.447 |
1801.652 |
1877.731 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1276.170 |
1177.775 |
1242.195 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
83.883 |
0.000 |
|
(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 |
230.430 |
217.060 |
200.865 |
|
(e) Other Non-current assets |
7.335 |
6.925 |
6.492 |
|
Total Non-Current Assets |
1513.935 |
1485.643 |
1449.552 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
254.321 |
150.345 |
109.033 |
|
(c) Trade receivables |
228.962 |
128.739 |
317.115 |
|
(d) Cash and cash
equivalents |
0.135 |
27.307 |
0.269 |
|
(e) Short-term loans and
advances |
25.094 |
9.423 |
1.762 |
|
(f) Other current assets |
0.000 |
0.195 |
0.000 |
|
Total Current Assets |
508.512 |
316.009 |
428.179 |
|
|
|
|
|
|
TOTAL |
2022.447 |
1801.652 |
1877.731 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 (Provisional) |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1001.881 |
571.671 |
|
|
|
|
Other Income |
11.816 |
1.720 |
|
|
|
|
TOTAL (A) |
1013.697 |
573.391 |
756.340 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
667.991 |
441.792 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
4.493 |
(35.555) |
|
|
|
|
Employees benefits expense |
104.124 |
59.965 |
|
|
|
|
Operations and other expenses |
227.681 |
173.731 |
|
|
|
|
TOTAL (B) |
1004.289 |
639.933 |
1060.126 (Including
Depreciation and Financial Expenses) |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
9.408 |
(66.542) |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
114.124 |
89.776 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(104.716) |
(156.318) |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
80.271 |
72.936 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(184.987) |
(229.254) |
(303.786) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(184.987) |
(229.254) |
(303.786) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
1.492 |
0.964 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(2.39) |
(2.97) |
(5.49) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 (Provisional) |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
(18.25) |
(39.98) |
(40.17) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(18.46) |
(40.10) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(9.15) |
(13.35) |
(16.18) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
3.38 |
(1.76) |
(1.07) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(32.47) |
7.39 |
4.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.52 |
0.45 |
0.54 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
604.139 |
772.770 |
772.770 |
|
Reserves & Surplus |
(413.200) |
(642.453) |
(827.440) |
|
Share Application money
pending allotment |
93.726 |
0.000 |
0.000 |
|
Net
worth |
284.665 |
130.317 |
(54.670) |
|
|
|
|
|
|
long-term borrowings |
790.045 |
962.435 |
1738.964 |
|
Short term borrowings |
471.710 |
0.000 |
35.978 |
|
Total
borrowings |
1261.755 |
962.435 |
1774.942 |
|
Debt/Equity
ratio |
4.432 |
7.385 |
(32.466) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
756.340 |
573.391 |
1013.697 |
|
|
|
(24.189) |
76.790 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
756.340 |
573.391 |
1013.697 |
|
Profit |
(303.786) |
(227.534) |
(173.171) |
|
|
(40.17%) |
(39.68%) |
(17.08%) |
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 |
Yes |
|
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 |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10504757 |
19/06/2014 * |
327,900,000.00 |
STANDARD CHARTERED BANK |
CRESCENZO PLOT NO C-38 & 39, G -BLOCK, BANDRA-KURLA COMPLEX, MUMBAI, MAHARASHTRA - 400051, INDIA |
C08765166 |
|
2 |
10331048 |
10/12/2011 |
50,000,000.00 |
STANDARD CHARTERED BANK |
CRESCENZO, PLOT NO. C-38 & 39, G BLOCK, BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI, MAHARASHTRA - 400051, INDIA |
B30335814 |
|
3 |
10212441 |
07/04/2010 |
750,000,000.00 |
STANDARD CHARTERED BANK |
90, M G ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A83132480 |
|
4 |
10193446 |
30/12/2009 |
705,000,000.00 |
STANDARD CHARTERED BANK |
90, M G ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A76323880 |
|
5 |
10190443 |
14/05/2011 * |
311,740,000.00 |
STANDARD CHARTERED BANK |
CRESCENZO, 3A/F, PLOT NO. C-38 & 39, G BLOCK, BANDRA KURLA COMPLEX, BANDRA, MUMBAI, MAHARASHTRA - 400051, INDIA |
B16063943 |
|
6 |
10150524 |
20/03/2009 |
195,000,000.00 |
STANDARD CHARTERED BANK |
90, M.G. ROAD,, FORT,, MUMBAI, MAHARASHTRA - 400001, INDIA |
A59839340 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
Fully convertible debentures others |
663.895 |
|
Other loans and advances, others |
298.540 |
|
Total |
962.435 |
FIXED ASSETS
· Land
Buildings
Factory
Equipments
Office
Equipment
Furniture
and Fixtures
Plant
and Equipment
Motor
Vehicles
Computer
Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government official
or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.25 |
|
|
1 |
Rs.101.92 |
|
Euro |
1 |
Rs.80.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.