MIRA
INFORM REPORT
|
Report Date : |
06.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
DEGREMONT LIMITED |
|
|
|
|
Registered
Office : |
L GF A-1/132, Safdarjung Enclave, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
14.08.1986 |
|
|
|
|
Com. Reg. No.: |
55-025120 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 160.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29197DL1986PLC025120 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELDO6254D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACDO136D |
|
|
|
|
Legal Form : |
A Closely held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer of Water and Effluent Treatment Plants. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The management has failed to file its financial record with government
department for the year 2013. As per available financial record of 2012 (Nine month financial) the
company has shown significate growth in operational
performance and it has achieved better profit from its operational
activities. 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. Note: The Company has
changed its financial year from 15 months (ranging from 01 Jan 2011 to 31
March 2012) to 9 months (ranging from 01 April 2012 to 31 December 2012). |
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 DENIED
Management Non Co-operative (91-124-4080120) Admin Department, Accounts
Department
LOCATIONS
|
Registered Office : |
L GF A-1/132, Safdarjung Enclave, New Delhi
– 10029, Delhi, India |
|
Tel. No.: |
91-11-26167732 |
|
Mobile No.: |
Not Available |
|
Fax No.: |
91-11-26105946 |
|
E-Mail : |
|
|
Website : |
Not Available |
DIRECTORS
AS ON 10.06.2013
|
Name : |
Mr. Remi Lantier |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
1, Rue Des Trois Freres,
75018, Paris, France |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
19.04.1953 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
14.01.2000 |
||||||||||||||||||||||||||||||||||||
|
DIN No. : |
00238812 |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Francois Fevrier |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
31 BD DE Port Royal 75013,
Paris, France |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
16.03.1961 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
06.06.2008 |
||||||||||||||||||||||||||||||||||||
|
DIN No. : |
02321127 |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Xavier Boulat |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
16, Rue Charles Rhone, Saint Germain En Laye, France,78100 |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
03.11.1965 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
08.06.2009 |
||||||||||||||||||||||||||||||||||||
|
DIN No. : |
02720745 |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Shyam Jee Bhan |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Direcotr |
||||||||||||||||||||||||||||||||||||
|
Address : |
M 121/16 DLF Phase 2, Gurgoan - 122002 |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
14.04.1955 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
06.07.2011 |
||||||||||||||||||||||||||||||||||||
|
DIN No. : |
03625508 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Ms. Pooja Sehgal Mehtani |
|
Designation : |
Secretary |
|
Address : |
110-B, First Floor, Krishna Nagar, Safdarjung Enclave. New Delhi – 110029, India |
|
Date of Birth/Age : |
17.12.1977 |
|
Date of Appointment : |
19.09.2005 |
|
PAN No.: |
AWKPS2151G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 10.06.2013
|
Names of Shareholders |
No. of Shares |
|
Degremont S.A. |
1595599 |
|
Poomima Gupta |
4395 |
|
AQUATEX |
1 |
|
AQUASERVE |
1 |
|
Degremont SA |
1 |
|
Degremont France |
1 |
|
Francois Fevrier |
1 |
|
Anis Benmoussa |
1 |
|
Total |
1600000 |
As on 10.06.2013
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 |
99.73 |
|
Other top fifty shareholders |
0.27 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Water and Effluent Treatment Plants. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Calyon Bank, Birla
Tower, 6th Floor, 25, Barakhamba Road,
New Delhi – 110001, Delhi, India |
|
|
|
|
Facilities : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. P. Puri
and Company Chartered Accountants |
|
Address : |
4/18, Asaf Ali Road, New Delhi – 110002,
India |
|
Tel. No.: |
91-11-23274888/ 23277410 |
|
Fax No.: |
91-11-23272805 |
|
E-Mail : |
|
|
PAN No.: |
AACFS2752D |
|
|
|
|
Fellow Subsidiary
company: |
·
Degremont A/S Denmark ·
Degremont SA Italy ·
Suez Environnement India Private Limited,
U29199DL2000PTC107940 ·
Degremont Water Treatment Systems (Beijing) Company
Limited, CHINA ·
Degremont, Japan ·
DSA, Portugal ·
Ondeo Industrial Solution France ·
Degremont , Brazil ·
PT Degremont, Indonesia ·
MTHojgaard A/S Denmark ·
LEMS, Switzerland ·
Infilco Degremont Inc
United States ·
DSA, Oman |
|
|
|
|
Associates: |
·
Anfilco Limited, U99999DL1975PLC190099 ·
Anand Automotive Limited, U74999MH1975PLC206199 ·
Mahle Filter Systems (India) Limited,
U74899DL1966PLC004919 ·
Gabriel India Limited, L34101PN1961PLC015735 ·
SNS Foundation ·
Degremont (Malaysia) SDN BHD ·
Asia Investments Private Limited, U65993MH1966PTC206200 |
|
|
|
|
Holding Company |
·
Degremont SA France |
CAPITAL STRUCTURE
As on 10.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.100/- each |
Rs.200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1600000 |
Equity Shares |
Rs.100/- each |
Rs.160.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2012 (9 Months) |
31.03.2012 (15 Months) |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
160.000 |
160.000 |
|
(b) Reserves &
Surplus |
|
181.930 |
16.959 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
341.930 |
176.959 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
14.667 |
77.483 |
|
(d) long-term provisions |
|
8.406 |
11.712 |
|
Total Non-current
Liabilities (3) |
|
23.073 |
89.195 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
1042.854 |
968.439 |
|
(c) Other current
liabilities |
|
569.849 |
903.473 |
|
(d) Short-term provisions |
|
263.804 |
384.424 |
|
Total Current Liabilities
(4) |
|
1876.507 |
2256.336 |
|
|
|
|
|
|
TOTAL |
|
2241.510 |
2522.490 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
10.918 |
11.724 |
|
(ii) Intangible Assets |
|
5.105 |
5.519 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
16.658 |
42.639 |
|
(e) Other Non-current
assets |
|
9.340 |
1.674 |
|
Total Non-Current Assets |
|
42.021 |
61.556 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
8.756 |
6.406 |
|
(c) Trade receivables |
|
1318.367 |
927.977 |
|
(d) Cash and cash
equivalents |
|
363.766 |
470.235 |
|
(e) Short-term loans and
advances |
|
291.751 |
287.371 |
|
(f) Other current assets |
|
216.849 |
768.945 |
|
Total Current Assets |
|
2199.489 |
2460.934 |
|
|
|
|
|
|
TOTAL |
|
2241.510 |
2522.490 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 (12 Months) |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
68.003 |
|
|
2] Share Application Money |
|
|
275.000 |
|
|
3] Reserves & Surplus |
|
|
9.851 |
|
|
4] (Accumulated Losses) |
|
|
|
|
|
NETWORTH |
|
|
352.854 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
862.517 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
862.517 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1215.371 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
24.323 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
65.092 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
13.708 |
|
|
Sundry Debtors |
|
|
2409.912 |
|
|
Cash & Bank Balances |
|
|
18.902 |
|
|
Other Current Assets |
|
|
0.078 |
|
|
Loans & Advances |
|
|
305.588 |
|
Total
Current Assets |
|
|
2748.188 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
798.73 |
|
|
Other Current Liabilities |
|
|
910.343 |
|
|
Provisions |
|
|
35.684 |
|
Total
Current Liabilities |
|
|
1744.757 |
|
|
Net Current Assets |
|
|
1003.431 |
|
|
|
|
|
|
|
|
PROFIT AND LOSS ACCOUNT |
|
|
122.525 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1215.371 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 (9 Months) |
31.03.2012 (15 Months) |
31.12.2010 (12 Months) |
|
|
SALES |
|
|
|
|
|
Income |
2201.453 |
3250.862 |
2313.759 |
|
|
Other Income |
161.897 |
23.828 |
20.690 |
|
|
TOTAL (A) |
2363.350 |
3274.690 |
2334.449 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1669.224 |
|
|
|
|
Employees benefits
expense |
255.775 |
475.961 |
|
|
|
Other expenses |
219.087 |
775.065 |
|
|
|
TOTAL (B) |
2144.086 |
4425.671 |
2350.948 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
219.264 |
(1150.981) |
(16.499) |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
50.412 |
179.713 |
141.068 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
168.852 |
(1330.694) |
(157.567) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.882 |
11.187 |
8.669 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
164.970 |
(1341.881) |
(166.236) |
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
46.437 |
(36.885) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
164.970 |
(1388.318) |
(129.351) |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD (J) |
58.176 |
(122.524) |
6.827 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S (I+J) |
223.146 |
(1510.842) |
(122.524) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
382.632 |
488.197 |
482.271 |
|
|
Earnings on Interest |
0.047 |
0.079 |
0.057 |
|
|
Earnings on other income |
49.147 |
173.409 |
0.000 |
|
|
Technical Service Fees |
0.000 |
0.000 |
185.326 |
|
|
TOTAL EARNINGS |
431.826 |
661.685 |
667.654 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
CIF basis |
13.458 |
51.725 |
NA |
|
|
TOTAL IMPORTS |
13.458 |
51.725 |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
103.10 |
(867.70) |
(190.21) |
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 (9 Months) |
31.03.2012 (15 Months) |
31.12.2010 (12 Months) |
|
|
|
|
|
|
|
PAT / Total Income |
(%) |
6.98 |
(42.40) |
(5.54) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.49 |
(41.28) |
(7.18) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.36 |
(53.20) |
(5.99) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.48 |
(7.58) |
(0.47) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
2.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17 |
1.09 |
1.58 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
160.000 |
160.000 |
|
Reserves & Surplus |
16.959 |
181.930 |
|
Net worth |
176.959 |
341.930 |
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
|
Total borrowings |
0.000 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2010 |
31.03.2012 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2313.759 |
3250.862 |
2201.453 |
|
|
|
40.501 |
(32.281) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2010 |
31.03.2012 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2313.759 |
3250.862 |
2201.453 |
|
Profit |
(129.351) |
(1388.318) |
164.970 |
|
|
(5.59%) |
(42.71%) |
7.49% |
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 |
No |
|
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 |
PERFORMANCE:
DEGREMONT LIMITED Standalone Balance Sheet for period 01/04/2012 to 31/12/2012 During the nine months period ended December 31, 2012, the Company achieved a turnover of Rs.2363 million and Rs.1922 million in cash collection from the construction clients which reflects the Company recovery and ability to execute DBO contracts. Nonetheless, the profit for the nine month period need to be adjusted with the losses of the three month period January 2012, to March 2012 to be comparable with the previous period. For the two years (January 2011 to December 2012) the average net result is loss of Rs.612 million. In the previous period there was infusion of fresh share capital in the company to the tune of Rs.1,160 million by Degremont S.A. which was a necessary action to improve the financial health of the Company and to fund the projects progress.
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10239767 |
01/09/2010 |
200,000,000.00 |
SOCIETE GENERALE |
6TH FLOOR,
MOHANDEV, 13, TOLSTOY MARG, NEW DELHI, |
A94632676 |
|
2 |
90043763 |
03/09/2009 * |
750,000,000.00 |
CALYON BANK |
6TH FLOOR, BIRLA
TOWER,, 25 BARAKHAMBA ROAD, NEW |
A68769231 |
|
3 |
90043636 |
07/05/2007 * |
400,000,000.00 |
BNP PARIBAS. |
1st Floor, East
Tower (Sood Tower), 25, Barakham |
- |
* Date of charge modification
FIXED ASSETS
·
Plant and Equipment
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Computer Equipments
·
Computer software
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 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. 60.86 |
|
|
1 |
Rs. 102.67 |
|
Euro |
1 |
Rs. 81.69 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
41 |
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.