MIRA
INFORM REPORT
|
Report Date : |
28.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
MSP SPONGE IRON LIMITED (w.e.f. 01.03.2005) |
|
|
|
|
Formerly Known
As : |
MSP SPONGE IRON PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1, Crooked Lane, Ground Floor,
Kolkata – 700069, West |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
16.07.1999 |
|
|
|
|
Com. Reg. No.: |
21-114830 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 256.552 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27102WB1999PLC114830 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCM1932G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The Subject is engaged in the manufacture and sale of Iron and Steel, Ferro Alloy Products and Captive Power Generation. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
.41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Overall financial position of the company is decent. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct. The company can be considered normal for business dealing 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 – 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BBB (Long Term bank facilities) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
March 26, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
A3+ (Short Term bank facilities) |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
March 26, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Bijay Pani |
|
Designation : |
Accounts Head |
|
Contact No. : |
91-33-40057777 |
|
Date : |
25.08.2014 |
LOCATIONS
|
Registered Office : |
1, Crooked Lane, Ground Floor,
Kolkata – 700069, West Bengal, India |
|
Tel. No.: |
91-33-40057777 |
|
Fax No.: |
91-33-40057788 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
16/S, Block A, New Alipore, Kolkata – 700053, West Bengal, India |
DIRECTORS
AS ON: 30.09.2013
|
Name : |
Mr. Saket Agrawal |
|
Designation : |
Director |
|
Address : |
386A Block-G, New Alipore, Kolkata -700053, West
Bengal, India |
|
Date of Birth/Age : |
27.02.1980 |
|
Qualification |
MBA |
|
Experience : |
10 Years |
|
Date of Appointment : |
16.07.1999 |
|
PAN No.: |
ACJPA0455C |
|
DIN No.: |
00129209 |
|
|
|
|
Name : |
Mr. Manish Agrawal |
|
Designation : |
Director |
|
Address : |
386A Block-G, New Alipore, Kolkata - 700053, West Bengal, India |
|
Date of Birth/Age : |
04.02.1980 |
|
Qualification |
MBA |
|
Experience : |
10 Years |
|
Date of Appointment : |
16.07.1999 |
|
PAN No.: |
ACJPA0456B |
|
DIN No.: |
00129240 |
|
|
|
|
Name : |
Mr. Pradip Kumar Dey |
|
Designation : |
Director |
|
Address : |
104/3/4, Satyen Roy Road, Kolkata-700034, West Bengal, India |
|
Date of Birth/Age : |
04.05.1962 |
|
Qualification |
LLB |
|
Date of Appointment : |
16.07.1999 |
|
PAN No.: |
AGIPD2752Q |
|
DIN No.: |
00587842 |
KEY EXECUTIVES
|
Name : |
Mr. Bijay Pani |
|
Designation : |
Accounts Head |
|
Name : |
Mr. Abhishek Parwal |
|
Designation : |
Accounts Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 30.09.2013
SHAREHOLDING DETAILS FILE ATTACHED
DATE OF ALLLOTTES 01.01.2014
|
Name
of Shareholders |
No.
of Shares |
|
Orbit
Dealcom Private Limited |
44444 |
|
Shringar
Mercantile Private Limited |
72222 |
|
Danta
Vyapar Kendra Limited |
33333 |
|
Maanraj
Merchants Private Limited |
16666 |
|
Total
|
166665 |
Equity Share Break up (Percentage of Total Equity)
AS ON: 30.09.2013
|
Category |
|
Percentage |
|
Bodies Corporate (Not Mentioned Above) |
|
94.58 |
|
Directors or relatives of directors |
|
4.15 |
|
Other top fifty shareholders(other than listed above) |
|
1.27 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Subject is engaged in the manufacture and sale of Iron and Steel, Ferro Alloy Products and Captive Power Generation. |
||||||||||||||
|
|
|
||||||||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank
of India, Commercial Branch,24 Park Street Kolkata -700016, West Bengal,
India ·
Citi Bank, Kolkata, West Bengal, India · HDFC Bank Limited |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
G. Goenka and Company Chartered Accountants |
|
Address : |
18, British Indian, Street, 3rd Floor, Room-305, Kolkata - 700069, West Bengal, India |
|
PAN No.: |
AAEFG1095P |
|
|
|
|
Associate |
Howrah Gases Limited CIN No.: L24111WB1985PLC038480 MSP Steel and Power Limited CIN No.: L27109WB1968PLC027399 Shree Khatupati Mercantiles Private Limited. CIN No.: U51909WB1993PTC059469 MSP Metallics Limited CIN No.: U27109WB1996PLC082138 MSP Properties (India) Limited CIN No.: U70101WB1997PLC085430 MSP Mines and Minerals Limited CIN No.: U10101WB2007PLC118764 MSP Infotech Private Limited CIN No.: U72200WB2000PTC091431 Chaman Metallics Limited CIN No.: U27100MH2003PLC143049 |
CAPITAL STRUCTURE
AFTER: 30.09.2013
Authorised Capital : Rs.320.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.316.219 Millions
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
32000000 |
Equity Shares |
Rs.10/- each |
Rs.320.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30771907 |
Equity Shares |
Rs.10/- each |
Rs.307.719
Millions |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25655241 |
Equity Shares |
Rs.10/- each |
Rs.256.552
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 |
256.552 |
166.547 |
146.162 |
|
(b) Reserves & Surplus |
2,042.234 |
1,279.914 |
843.336 |
|
(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) |
2,298.786 |
1,446.461 |
989.498 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2,416.954 |
1,241.219 |
108.835 |
|
(b) Deferred tax liabilities
(Net) |
99.594 |
84.989 |
81.802 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.395 |
0.395 |
0.000 |
|
Total
Non-current Liabilities (3) |
2,516.943 |
1,326.603 |
190.637 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1,595.147 |
930.870 |
724.200 |
|
(b) Trade payables |
313.695 |
224.882 |
212.244 |
|
(c) Other current liabilities |
296.467 |
149.541 |
259.335 |
|
(d) Short-term provisions |
13.730 |
9.156 |
7.663 |
|
Total
Current Liabilities (4) |
2,219.039 |
1,314.449 |
1,203.442 |
|
|
|
|
|
|
TOTAL |
7,034.768 |
4,087.513 |
2,383.577 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2,845.515 |
713.944 |
687.636 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
1,180.984 |
1,537.605 |
305.728 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
135.441 |
80.441 |
80.391 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
281.545 |
370.341 |
186.655 |
|
(e) Other Non-current assets |
0.017 |
0.035 |
0.054 |
|
Total
Non-Current Assets |
4,443.502 |
2,702.366 |
1,260.464 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
774.316 |
425.651 |
438.269 |
|
(c) Trade receivables |
357.434 |
324.050 |
254.336 |
|
(d) Cash and cash equivalents |
485.290 |
137.072 |
107.184 |
|
(e) Short-term loans and
advances |
948.401 |
487.754 |
314.652 |
|
(f) Other current assets |
25.825 |
10.620 |
8.672 |
|
Total
Current Assets |
2,591.266 |
1,385.147 |
1,123.113 |
|
|
|
|
|
|
TOTAL |
7,034.768 |
4,087.513 |
2,383.577 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
2,421.096 |
2,131.182 |
2,061.272 |
|
|
Other Income |
16.308 |
10.368 |
5.116 |
|
|
TOTAL
(A) |
2,437.404 |
2,141.550 |
2,066.388 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1,902.604 |
1,623.940 |
1,398.903 |
|
|
Extraordinary Items |
0.000 |
(1.913) |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(84.156) |
21.595 |
108.521 |
|
|
Employees benefits expense |
92.614 |
80.517 |
68.299 |
|
|
Other expenses |
283.849 |
192.255 |
256.840 |
|
|
TOTAL
(B) |
2,194.911 |
1,916.394 |
1,832.563 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
242.493 |
225.156 |
233.825 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
117.951 |
103.902 |
90.388 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
124.542 |
121.254 |
143.437 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
66.779 |
67.022 |
72.270 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
57.763 |
54.232 |
71.167 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
15.486 |
4.969 |
21.633 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
42.277 |
49.263 |
49.534 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
1.970 |
3.370 |
2.850 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.73 |
2.30 |
2.40 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.39 |
2.31 |
3.45 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.01 |
2.92 |
3.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.04 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.76 |
1.50 |
0.84 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17 |
1.05 |
0.93 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
146.162 |
166.547 |
256.552 |
|
Reserves & Surplus |
843.336 |
1,279.914 |
2,042.234 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
989.498 |
1,446.461 |
2,298.786 |
|
|
|
|
|
|
long-term borrowings |
108.835 |
1,241.219 |
2,416.954 |
|
Short term borrowings |
724.200 |
930.870 |
1,595.147 |
|
Total
borrowings |
833.035 |
2,172.089 |
4,012.101 |
|
Debt/Equity
ratio |
0.842 |
1.502 |
1.745 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
2,061.272 |
2,131.182 |
2,421.096 |
|
|
|
3.392 |
13.603 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
2,061.272 |
2,131.182 |
2,421.096 |
|
Profit After Tax |
49.534 |
49.263 |
42.277 |
|
|
2.40% |
2.31% |
1.75% |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
Note:
The Registered Office of the company has been shifted from Village
Haldiagunap O Gobardhan, Keonjhar – 758013, Orissa, India to the present
address w.e.f. 06.03.2007
Financials
The financial performance
of the company during the year has been quite satisfactory. The gross turnover
of the company is Rs. 2698.588 Millions, Profit before tax is Rs. 57.763
Millions. Provision for Income Tax comprising of current tax of Rs.11.699
Millions and deferred tax of Rs14.605 Millions was made. Profit after Tax is Rs
42.276 Millions in the current year.
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
|
|
|
|
Long term
borrowing |
|
|
|
Intercorporate deposit |
47.217 |
21.538 |
|
Loans and advances from related parties |
31.598 |
0.000 |
|
|
|
|
|
Short term borrowing |
|
|
|
Intercorporate Deposit |
4.000 |
2.531 |
|
Loans and advances from related parties |
45.358 |
50.970 |
|
|
|
|
|
Total |
128.173 |
75.039 |
VIEW INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10444746 |
23/07/2013 |
6,003,000.00 |
TATA CAPITAL
FINANCIAL SERVICES LIMITED |
One Forbes,, Dr.
V. B. Gandhi Marg, Fort, Mumbai, |
B82949884 |
|
2 |
10445101 |
22/07/2013 |
2,169,000.00 |
TATA CAPITAL
FINANCIAL SERVICES LIMITED |
One Forbes,, Dr.
V. B. Gandhi Marg, Fort, Mumbai, |
B83083550 |
|
3 |
10444852 |
22/07/2013 |
2,790,000.00 |
TATA CAPITAL
FINANCIAL SERVICES LIMITED |
One Forbes,, Dr.
V. B. Gandhi Marg, Fort, Mumbai, |
B82998436 |
|
4 |
10436428 |
29/06/2013 |
6,520,000.00 |
TATA CAPITAL
FINANCIAL SERVICES LIMITED |
One Forbes,, Dr.
V. B. Gandhi Marg, Fort, Mumbai, |
B79440293 |
|
5 |
10437337 |
17/06/2013 |
2,208,400,000.00 |
STATE BANK OF INDIA
(LEAD BANK) |
Commercial
Branch, Kolkata, 24, Park Street, Kolk |
B79817649 |
|
6 |
10413537 |
27/02/2013 |
7,988,796.00 |
TATA CAPITAL
FINANCIAL SERVICES LIMITED |
One Forbes,, Dr.
V. B. Gandhi Marg, Fort, Mumbai, |
B71371835 |
|
7 |
10400854 |
15/01/2013 |
550,000,000.00 |
STATE BANK OF
HYDERABAD |
Park Street
Branch, 113 Park Street, Kolkata, Wes |
B67002436 |
|
8 |
10404426 |
29/12/2012 |
1,100,000.00 |
TATA CAPITAL
FINANCIAL SERVICES LIMITED |
One Forbes,, Dr.
V. B. Gandhi Marg, Fort, Mumbai, |
B68619865 |
|
9 |
10379817 |
17/09/2012 |
5,931,000.00 |
TATA CAPITAL
FINANCIAL SERVICES LIMITED |
One Forbes,, Dr.
V. B. Gandhi Marg, Fort, Mumbai, |
B59418269 |
|
10 |
10379810 |
11/09/2012 |
4,485,000.00 |
TATA CAPITAL
FINANCIAL SERVICES LIMITED |
One Forbes,, Dr.
V. B. Gandhi Marg, Fort, Mumbai, |
B59416123 |
* Date of charge modification
FIXED ASSETS:
Tangible Assets
· Land
· Factory Building
· Factory Equipments
· Furniture and Fixtures
· Motor Vehicles
· Plant and Equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.60.47 |
|
|
1 |
Rs.100.15 |
|
Euro |
1 |
Rs.79.65 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
47 |
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.