MIRA
INFORM REPORT
|
Report Date : |
08.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
SKIL INFRASTRUCTURE LIMITED |
|
|
|
|
Registered
Office : |
Skil House, 209 Bank Street Cross Lane, Fort, Mumbai –
400023, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
21.04.1983 |
|
|
|
|
Com. Reg. No.: |
11-178299 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2165.712 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L36911MH1983PLC178299 |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
The Subject is mainly engaged in Infrastructure activity. |
|
|
|
|
No. of Employees
: |
Not Avaiable |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 143040000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Rating reflects moderate financial risk profile due to loss incurred
by the company in the year 2014. Rating is also consdrained on account of
project execution risk associated with various projects of the company. 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 – 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 (91-22-67158000)
LOCATIONS
|
Registered Office/
Corporate Office : |
SKIL House, 209 Bank Street Cross Lane, Fort, Mumbai - 400023, Maharashtra, India |
|
Tel. No.: |
91-22-22703031/ 23702766/ 66199000/ 66696000 |
|
Fax No.: |
91-22-22696024/ 23733509/ 22696023/ 22696021/ 22659939 |
|
E-Mail : |
|
|
Website : |
http://www.skilgroup.co.in
|
DIRECTORS
As on: 31.03.2013
|
Name : |
Mr. Nikhil Gandhi |
|
Designation : |
Chairman and Whole-time Director |
|
|
|
|
Name : |
Mr. Bhavesh Gandhi |
|
Designation : |
Vice Chairman |
|
|
|
|
Name : |
Mr. J. Alexander |
|
Designation : |
Director |
|
|
|
|
Name : |
Ms. Gayathri Ramachandran |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. V. Ramanan |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Ajay Khera |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Nilesh Mehta |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.06.2014
|
Sr. No |
Category of shareholder |
Total number of shares |
Total shareholding as a percentage of total number of
shares |
|
|
|
|
% of shares (A+B)1 |
|
(A) |
Shareholding of
Promoter and Promoter Group |
|
|
|
(1) |
Indian |
|
|
|
(a) |
Individuals/ Hindu Undivided Family |
9,27,30,837 |
42.82 |
|
(b) |
Central Government/ State Government(s) |
0 |
0.00 |
|
(c) |
Bodies Corporate |
5,34,97,140 |
24.70 |
|
(d) |
Financial Institutions/ Banks |
0 |
0.00 |
|
(e) |
Any Other (specify) |
|
|
|
|
trust |
15242488 |
7.04 |
|
|
Any Other Total |
1,52,42,488 |
7.04 |
|
|
Sub-Total (A)(1) |
16,14,70,465 |
74.56 |
|
(2) |
Foreign |
|
|
|
(a) |
Individuals (Non- Resident Individuals/ Foreign Individuals) |
0 |
0.00 |
|
(b) |
Bodies Corporate |
0 |
0.00 |
|
(c) |
Institutions |
0 |
0.00 |
|
|
Any Other Total |
0 |
0.00 |
|
|
Sub-Total (A)(2) |
0 |
0.00 |
|
|
Total Shareholding
of Promoter and Promoter Group (A)= (A)(1)+(A)(2) |
16,14,70,465 |
74.56 |
|
(B) |
Public shareholding3 |
|
|
|
(1) |
Institutions |
|
|
|
(a) |
Mutual Funds/ UTI |
0 |
0.00 |
|
(b) |
Financial Institutions/ Banks |
47,71,202 |
2.20 |
|
(c) |
Central Government/ State Government(s) |
0 |
0.00 |
|
(d) |
Venture Capital Funds |
0 |
0.00 |
|
(e) |
Insurance Companies |
0 |
0.00 |
|
(f) |
Foreign Institutional Investors |
0 |
0.00 |
|
(g) |
Foreign Venture Capital Investors |
1,12,76,659 |
5.21 |
|
(h) |
Qualified Foreign Investor |
0 |
0.00 |
|
(i) |
Any Other (specify) |
|
|
|
|
Any Other Total |
0 |
0.00 |
|
|
Sub-Total (B)(1) |
1,60,47,861 |
7.41 |
|
(2) |
Non-institutions |
|
|
|
|
|
||
|
(a) |
Bodies Corporate |
1,62,57,854 |
7.51 |
|
(b) |
Individuals |
|
|
|
(i) |
Individual shareholders holding nominal share capital up to Rs. 1 lakh |
11,88,747 |
0.55 |
|
(ii) |
Individual shareholders holding nominal share capital in excess of Rs. 1 lakh |
13,86,510 |
0.64 |
|
(c) |
Qualified Foreign Investor |
0 |
0.00 |
|
(d) |
Any Other (specify) |
|
|
|
|
NRI (Non Repat) |
6700 |
0.00 |
|
|
Clearing Member |
170226 |
0.08 |
|
|
Trust |
7236842 |
3.34 |
|
|
Oberseas Bodies Corporate |
1461193 |
0.67 |
|
|
NRI (Repat) |
70687 |
0.03 |
|
|
Foreign Company |
11274147 |
5.21 |
|
|
Any Other Total |
2,02,19,795 |
9.34 |
|
|
Sub-Total(B)(2) |
3,90,52,906 |
18.03 |
|
|
Total Public Shareholding
(B)= (B)(1)+(B)(2) |
5,51,00,767 |
25.44 |
|
|
TOTAL(A)+(B) |
21,65,71,232 |
100.00 |
|
(C) |
Shares held by Custodians and against which Depository Receipts have been issued |
|
|
|
C1 |
Promoter and Promoter group |
0 |
|
|
C2 |
Public |
0 |
|
|
|
Total C=C1+C2 |
0 |
|
|
|
GRAND TOTAL
(A)+(B)+(C) |
21,65,71,232 |
N.A. |
BUSINESS DETAILS
|
Line of Business : |
The Subject is mainly engaged in Infrastructure activity. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
· IDBI Bank Limited · Central Bank of India ·
Union Bank of India |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
Notes: Term loan from Bank / Financial Institution and Inter Corporate Deposits referred to above and Rs. 14,345.24 Millions included in current maturities of long term debt in Note No.9 are secured as under: i) Rs. 1100.000 Millions from a Bank is secured by way of pledge of investments of the company as mentioned in Note No.12.1 and by way of Equitable mortgage of land owned by other Body Corporates. ii) Term loan of Rs. 879.002 Millions from Bank is secured by : -Exclusive pari passu charge on the entire moveable and immovable assets, current assets of the company both present and future. -Exclusive charge on immovable property of other body corporate. -First pari-passu charge on immovable property of subsidiary company. -Corporate Guarantee given by subsidiary and other body corporate -Personal guarantee given by a Director” iii) Term loan of Rs. 1326.446 Millions from a Banks are secured by :- First pari-passu charge on the entire present and future project moveable and immovable assets and all right, title and interest of the FDLL related to CFS Project of the company. - Second charge on present and future current assets of the Company. - First pari-passu charge on immovable property of other body corporates, and further secured by personal guarantee given by a Director. iv) Term loan of Rs. 523.400 Millions from Bank is secured by : -First mortgage and charge on all immoveable and moveable properties of the HIL, both present and future. -Exclusive charge on immovable property of Subsidiary. -Personal guarantee given by a Two Directors of the Company. v) Term loan of Rs. 2000.000 Millions from a Bank is secured by way of Equitable mortgage of land owned by other body corporate and also by corporate guarantee given by the same Company. vi) Rs. 2300.000 Millions from a Financial Institution is secured by way of pledge of investments of the company as mentioned in Note No.12.1 and of investments of a subsidiary (SKIL Shipyard Holdings Private Limited) in certain equity shares. vii) Term loan of Rs. 1301.325 Millions is secured by way of- pledge of Investments of the company as mentioned in Note no.12.1 and investments of a subsidiary (SKIL Shipyard Holdings Private Limited) in certain equity shares and further secured by way of hypothecation of entire fixed assets of the company and equitable mortgage of land owned by other Body Corporate. Term Loans from a Bank, a Financial Institution and Inter Corporate Deposits referred to above and Rs. 1434.525 Millions included in current maturities of long term debts in Note No.9 are guaranteed by one of the Directors of the company in his personal capacity, carry interest rates ranging from 13.00% to 17.50%. Vehicles Loans referred to above and Rs. 4.118 Millions included in current maturities of long term debts in Note No.9 are secured by way of the hypothecation of the specific vehicles financed. The loans are repayable in 36 to 60 monthly installments (Including interest) as per repayment schedule. During the year company has issued 829 Nos. 0% Redeemable Non Convertible Bonds (RNCB) having face value of Rs. 1,00,00,000/- each redeemable at a cumulative premium of 45% after 5 years from the date of allotment i.e.132 (RNCB) 29.05.2012. and 697 (RNCB) 31.03.2013. As on March 31, 2013, the company has overdue interest amounting to Rs. 1,086.19 Millions on the above loans. Maturity period of term loan from a bank of Rs. 2000.000 Millions due for payment during 2013-14 has been extended for further period of 2 years. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Bharat Shah and Associates Chartered Accountants |
|
|
|
|
Subsidiaries : |
· SKIL - Himachal Infrastructure and Tourism Limited Subsidiaries · SKIL Shipyard Holdings Private Limited · SKIL Karnataka SEZ Limited · SKIL Singapore Pte Limited of Singapore · Pipavav Electronic Warfare Systems Private Limited (Formerly Known as SKIL Strategic Deterrence Systems Private Limited). · Energy India Corporation Limited · SKIL Advanced Systems Private Limited · Chiplun FTWZ Private Limited · Metrotech Technology Park Private Limited · Varahi Infrastrucutre Private Limited · Mahakleshwar Knowledge Infrastructure Private Limited · Gujarat Positra Port Company Limited |
|
|
|
|
Associates : |
· Pipavav Defence and Offshore Engineering Company Limited · Urban Infrastructure Holding Private Limited · Montana Infrastructure Limited · Metropolitan Industries |
|
|
|
|
Enterprises over
which Key Managerial Personnel are able to exercise significant influence : |
· Matushree Nirmalaben Gandhi Charitable Foundation · Grevek Investment and Finance Private Limited · Rhett Infraprojects Private Limited · Awaita Properties Private Limited · E-Complex Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital :
Rs.2165.712 Millions
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
910,000,000 |
Equity Shares |
Rs.10/- each |
Rs.9100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,740,000 |
Equity Shares |
Rs.10/- each |
Rs.107.400 Millions |
|
|
Suspense Share Capital - SKIL |
|
Rs.1743.588 Millions |
|
|
Suspense Share Capital - HCWLL |
|
Rs.200.603 Millions |
|
|
Suspense Share Capital - FDLL |
|
Rs.114.122 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.2165.712 Millions |
1 Reconciliation of
number of Equity shares outstanding at the beginning and at the end of the year
|
|
As at March 31, 2013 |
|
|
|
No. of Shares |
Rs. In Millions |
|
No. of shares at the beginning of the year |
10,740,000 |
107.400 |
|
Add: Shares issued during the year - On Preferential basis |
- |
- |
|
No. of shares at the end of the year |
10,740,000 |
107.400 |
2. Details of
Shareholders, holding more than 5% of Paid up Equity Share Capital of the
Company
|
|
As at March 31, 2013 |
|
|
|
No. of Shares |
% of Holding |
|
Rupali B. Gandhi |
1,208,000 |
11.25% |
|
Nikhil P. Gandhi |
1,175,000 |
10.94% |
|
Bhavesh P. Gandhi |
1,175,000 |
10.94% |
|
Neha N. Gandhi |
1,168,665 |
10.88% |
|
Krosslink Infrastructure Limited |
1,274,834 |
11.87% |
3. Right to Equity
Shareholders :
The Company has only one class of Equity Share having par value of ` 10 per share. Each Equity shareholder is eligible for one vote per share held. In the event of liquidation of the Company, the Equity shareholders will be entitled to receive any of the remaining assets of the Company, after distribution of all preferential amount. The distribution will be in proportionate to the number of equity share held by the shareholders.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2165.712 |
2165.712 |
107.400 |
|
(b) Reserves & Surplus |
33596.688 |
36170.835 |
210.704 |
|
(c) Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
35762.400 |
38336.547 |
318.104 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
16798.226 |
18440.168 |
402.852 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
1045.250 |
195.329 |
0.000 |
|
(d) long-term provisions |
3.832 |
3.453 |
0.000 |
|
Total
Non-current Liabilities (3) |
17847.308 |
18638.950 |
402.852 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1688.935 |
2548.043 |
499.013 |
|
(b) Trade payables |
6557.568 |
3912.195 |
1988.351 |
|
(c) Other current liabilities |
7451.851 |
3228.151 |
1499.390 |
|
(d) Short-term provisions |
3.832 |
15.686 |
12.482 |
|
Total
Current Liabilities (4) |
15702.186 |
9704.075 |
3999.236 |
|
|
|
|
|
|
TOTAL |
69311.894 |
66679.572 |
4720.192 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
2277.799 |
7.330 |
|
(ii) Intangible Assets |
|
0.372 |
0.000 |
|
(iii) Capital work-in-progress |
|
1105.332 |
147.094 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
51805.283 |
51566.615 |
212.085 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
1.124 |
|
(d) Long-term Loan and Advances |
2142.223 |
2791.626 |
1150.000 |
|
(e) Other Non-current assets |
3.400 |
4.300 |
5.200 |
|
Total
Non-Current Assets |
57652.287 |
57746.044 |
1522.833 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
364.537 |
364.916 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
7146.003 |
4226.910 |
2331.225 |
|
(d) Cash and cash equivalents |
45.478 |
236.555 |
1.963 |
|
(e) Short-term loans and
advances |
4103.529 |
4105.088 |
864.171 |
|
(f) Other current assets |
0.060 |
0.059 |
0.000 |
|
Total
Current Assets |
11659.607 |
8933.528 |
3197.359 |
|
|
|
|
|
|
TOTAL |
69311.894 |
66679.572 |
4720.192 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
3775.825 |
4688.843 |
3200.297 |
|
|
Other Income |
8.684 |
17.147 |
140.379 |
|
|
TOTAL
(A) |
3784.509 |
4705.990 |
3340.676 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Operation |
3492.417 |
4379.847 |
3054.162 |
|
|
Employees benefits expense |
47.001 |
154.001 |
14.626 |
|
|
Other expenses |
122.128 |
83.448 |
20.437 |
|
|
TOTAL
(B) |
3661.546 |
4617.296 |
3089.225 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
122.963 |
88.694 |
251.451 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1830.325 |
2102.301 |
146.443 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(1707.362) |
(2013.607) |
105.008 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
8.070 |
10.485 |
2.526 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(1715.432) |
(2024.092) |
102.482 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
0.000 |
0.000 |
35.404 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
(1715.432) |
(2024.092) |
67.078 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(7.92) |
(188.46) |
6.25 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
(45.33) |
(43.01) |
2.01 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(45.43) |
(43.17) |
3.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(9.80) |
(14.45) |
2.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.05) |
(0.05) |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.52 |
0.55 |
2.84 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.74 |
0.92 |
0.80 |
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 |
107.400 |
2165.712 |
2165.712 |
|
Reserves & Surplus |
210.704 |
36170.835 |
33596.688 |
|
Net
worth |
318.104 |
38336.547 |
35762.400 |
|
|
|
|
|
|
long-term borrowings |
402.852 |
18440.168 |
16798.226 |
|
Short term borrowings |
499.013 |
2548.043 |
1688.935 |
|
Total
borrowings |
901.865 |
20988.211 |
18487.161 |
|
Debt/Equity
ratio |
2.835 |
0.547 |
0.517 |
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) |
|
Sales |
3200.297 |
4688.843 |
3775.825 |
|
|
|
46.513 |
(19.472) |
NET PROFIT MARGIN
|
Net Profit
Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3200.297 |
4688.843 |
3775.825 |
|
Profit |
67.078 |
(2024.092) |
(1715.432) |
|
|
2.10% |
(43.17%) |
(45.43%) |
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 |
No |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
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 |
Yes |
|
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 |
No |
|
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 |
|
LITIGATION DETAILS |
|||||||||
|
Bench:- Bombay |
|||||||||
|
Lodging No.:- |
ITXAL/211/2013 |
Failing Date:- |
31/02/2013 |
Reg. No.:- |
ITXA/912/2013 |
Reg. Date:- |
22/04/2013 |
||
|
|
|||||||||
|
Petitioner:- |
THE COMMISSIONER OF INCOME TAX CENT |
Respondent:- |
M/S SKIL INFRASTRUCTURE LIMITED |
||||||
|
Petn.Adv:- |
CHARANJEET CHANDERPAL (I2154) |
Resp.Adv.:- |
0 (0) |
||||||
|
District:- |
MUMBAI |
||||||||
|
|
|||||||||
|
Bench:- |
DIVISION |
Category:- |
TAX APPEALS |
||||||
|
Status:- |
Admitted (Unready) |
Stage:- |
FOR DIRECTION |
||||||
|
Last Date:- |
25/03/2013 |
||||||||
|
Last Coram:- |
HON'BLE SHRI JUSTICE J.P. DEVADHAR HON'BLE SHRI JUSTICE M.S. SANKLECHA |
||||||||
|
Act:- |
Income Tax Act, 1961 |
Under Section:- |
260A |
||||||
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2014 |
As on 31.03.2013 |
|
LONG TERM
BORROWINGS |
|
|
|
175 Nos. (previous year 175 Nos.) 3% Redeemable Non Convertible Bonds of Rs. 1,00,00,000 Each |
|
1750.000 |
|
829 Nos. (previous year NIL) 0% Redeemable Non Convertible Bonds of Rs. 1,00,00,000 Each |
|
8290.000 |
|
Inter Corporate Deposits - Related Parties |
|
400.000 |
|
SHORT TERM
BORROWINGS |
|
|
|
Inter Corporate Deposits - Related Parties |
|
48.775 |
|
Others |
|
155.787 |
|
|
|
|
|
Total |
NA |
10644.562 |
CONTINGENT
LIABILITIES (TO THE EXTENT NOT PROVIDED FOR):
(Rs. In Millions)
|
Particular |
31.03.2013 |
|
Corporate guarantees given to Bank/Financial Institutions for borrowings taken by |
|
|
-Joint Venture |
|
|
-Others |
88943.739 |
|
Income Tax Demands not acknowledged as debts |
114.359 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10406314 |
31/01/2013 |
1,000,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE,
DISCOVERY OF INDIA,, DR. |
B68934744 |
|
2 |
10391860 |
18/12/2013 * |
5,400,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA,, DR. |
B96058474 |
|
3 |
10385934 |
31/01/2013 * |
2,500,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA,, DR. |
B68352640 |
|
4 |
10386777 |
30/10/2012 |
1,000,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA,, DR. |
B62161971 |
|
5 |
10339904 |
18/02/2012 |
150,000,000.00 |
IDBI Bank Limited |
IDBI TOWERWTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHA |
B34007146 |
|
6 |
10339908 |
18/02/2012 |
600,000,000.00 |
IDBI Bank Limited |
IDBI TOWERWTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHA |
B34008045 |
|
7 |
10282829 |
25/04/2011 |
1,500,000,000.00 |
SREI INFRASTRUCTURE FINANCE LIMITED |
VISHWAKARMA,86C,TOPSIA
ROAD (SOUTH),, KOLKATA, WES |
B10869220 |
* Date of charge modification
FIXED ASSETS
Tangible Assets
· Leasehold Land
· Freehold Land
· Furniture and Fixtures
· Office Equipments
· Vehicles
Intangible Assets
· Computer Softwares
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.61.41 |
|
|
1 |
Rs.103.42 |
|
Euro |
1 |
Rs.82.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
0 |
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
34 |
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.