MIRA INFORM REPORT
|
Report Date : |
01.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
TOSHALI CEMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gajapati Edifice, 3rd Floor, H. No.29-2-21 and 21/A, Opposite
District Judge Court, Prakashrao Peta, Vishkhapatnam – 530020, Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
13.08.2002 |
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|
|
|
Com. Reg. No.: |
01-039450 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 474.701 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26942AP2002PTC039450 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
Not Available |
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|
|
|
Legal Form : |
Private Limited Liability Company. |
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|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Cement. |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1300000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow But Correct |
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|
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Management has failed to file latest financial of FY 2014, with
statutory authorities. As per available, the company possesses a moderate financial profile
marked by deteriorating networth base owing to significant loss incurred
during financial year 2013, on account of steep increase in raw material
prices coupled with high selling expenditure due to the large discounts given
by the subject in the wake of the weak demand scenario during the period. Moreover the high levels of inventory and interest burden owing to the
recent and planned capital expenditure coupled with subdued demand scenario
could squeeze the liquidity position of the company. The rating also take into consideration the support lend by the group
which is also the largest cement manufacturer in western Africa and the
promoters experience in reviving loss making cement and steel plants, as the
present assets owned by the subject were loss making units acquired back in
2004. However, trade relations seems to be fair. Business is active. Payment
terms are reported as slow but correct. In view of extensive experience of the promoters, the company can be
considered for business dealings with 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
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks over
coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term non fund based limits = “B” |
|
Rating Explanation |
High risk default regarding timely servicing of financial obligations |
|
Date |
February 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term non fund based limits = “A4” |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
February 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 PARTED BY
|
Name : |
Mr. Jaymohan |
|
Designation : |
Senior Accountant |
|
Contact No.: |
91-40-23014265 |
|
Date : |
24.11.2014 |
LOCATIONS
|
Registered Office : |
Gajapati Edifice, 3rd Floor, H. No.29-2-21 and 21/A,
Opposite District Judge Court, Prakashrao Peta, Vishkhapatnam – 530020, Andhra
Pradesh, India |
|
Tel. No.: |
91-40-23014266 |
|
Fax No.: |
91-40-23014265 |
|
E-Mail : |
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|
Website : |
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|
Factory : |
Located At : Orisa |
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|
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|
Head Office : |
5th Floor, South Wing, ‘RAJAPRASAADAMU’ Hyderabad – 500084,
Andhra Pradesh, India |
|
Tel. No.: |
91-40-23700675/23801981 |
|
Fax No.: |
91-40-23014265 |
|
E-Mail : |
|
|
|
|
|
Corporate office
: |
6th Floor, South Wing, Rajaprasaadamu, Plot No. 6, 6A, 6b,
Botanical Garden Road, Masidu Abnda, Konidapur, Hyderabad- 500084, Andhra
Pradesh, India. |
|
|
|
|
Central Marketing Office : |
9-14-13, CBM Compound, Vishakhapatnam - 530003, Andhra Pradesh, India |
|
Tel. No.: |
91-891-2721434 |
|
Fax No.: |
91-891-2721433 |
|
E-Mail : |
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|
|
|
|
Regional Marketing Office : |
#22, AAcharya Vihar, Plot No:344, Madhusudan Nagar, Near Regional
Science Park, Bhubaneshwar – 751013, Orisa, India |
|
Fax No.: |
91-674-2542092 |
|
E-Mail : |
DIRECTORS
As On 30.09.2013
|
Name : |
Siva Ramavara Prasad Motaparti |
|
Designation : |
Director |
|
Address : |
Plot No. 918, Road No. 47, Jubilee Hils, Hyderabad – 500033, Andhra
Pradesh, India |
|
Date of Birth/Age : |
15.05.1948 |
|
Date of Appointment : |
10.05.2003 |
|
DIN No.: |
00170919 |
|
|
|
|
Name : |
Rajyalakshmi Motaparti |
|
Designation : |
Managing Director |
|
Address : |
Plot No. 918, Road No 47, Jubilee Hills, Hyderabad – 500033, Andhra
Pradesh, India |
|
Date of Birth/Age : |
25.08.1948 |
|
Date of Appointment : |
10.05.2003 |
|
DIN No.: |
00343848 |
|
|
|
|
Name : |
Subhash Chandra Bose Venigalla |
|
Designation : |
Director |
|
Address : |
Flat No. D2, Satya Sai Apartments, Kamalapuri Colony, Hyderabad – 73,
Andhra Pradesh, India |
|
Date of Birth/Age : |
25.08.1948 |
|
Date of Appointment : |
10.05.2003 |
|
DIN No.: |
00353729 |
|
|
|
|
Name : |
Muddapati Surendra |
|
Designation : |
Director |
|
Address : |
283/3RT Flat No. 301, Ravi Teja Apartment, SR Nagar, Hyderabad –
500038, Andhra Pradesh, India |
|
Date of Birth/Age : |
19.08.1970 |
|
Date of Appointment : |
27.05.2008 |
|
DIN No.: |
01179655 |
|
|
|
|
Name : |
Rajagopal Kunjithpatham |
|
Designation : |
Director |
|
Address : |
Plot No.8, Kavuri Hills (Phase-I), Jubilee Hills, Hyderabad – 500033,
Andhra Pradesh, India |
|
Date of Birth/Age : |
04.03.1932 |
|
Date of Appointment : |
01.11.2005 |
|
DIN No.: |
00480004 |
KEY EXECUTIVES
|
Name : |
Mr. Jaymohan |
|
Designation : |
Senior Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Equity Shareholders |
No. of Shares |
Percentage of Holding |
|
Sri M S R V Prasad |
1042438 |
35.72 |
|
Smt. M. Rajya Lakshmi |
101870 |
3.49 |
|
Sri M Rohit Prasad |
137346 |
4.71 |
|
Sri M Sunil Prasad |
137346 |
4.71 |
|
Sri Manubhai Jethabai Patel |
705598 |
24.18 |
|
Sri Mukesh Manubhai Patel |
387610 |
13.28 |
|
Sri Bimal Manubhai Patel |
325792 |
11.16 |
|
Volta Impex Private Limited |
50000 |
1.71 |
|
Sri V S Bose |
5000 |
0.17 |
|
M. Surendra |
25000 |
0.86 |
|
Total |
2918000 |
100.00 |
|
Names of Preference Shareholders |
No. of Shares |
Percentage of Holding |
|
Siva Ramavara Prasad Mothaparthi |
568665 |
31.09 |
|
Bimal Manubahi Patel |
137000 |
7.49 |
|
Manubhai Jethabai Patel |
271125 |
14.82 |
|
Mukesh Manubahi Patel |
149500 |
8.17 |
|
Rajyalakshmi Motaparti |
234310 |
12.81 |
|
Rohit Prasad Motaparti |
234205 |
12.81 |
|
Sunil Prasad Motaparti |
234205 |
12.81 |
|
Total |
1,829,010 |
100.00 |
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 |
95.55 |
|
Bodies corporate |
1.71 |
|
Directors or relatives of Directors |
2.74 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Cement. |
|
|
|
|
Products : |
Not Available |
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|
|
|
Brand Names : |
Not Available |
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|
|
|
Agencies Held : |
Not Available |
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|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Not Divulged |
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||||||||||||||||||||||||
|
Bankers : |
State Bank of Hyderabad, Overseas Branch, 6-3-652, “KAUTILYA”,
Somajiguda, Hyderabad - 500082, Andhra
Pradesh, India |
||||||||||||||||||||||||
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|
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Facilities : |
|
|
|
|
|
Financial Institution : |
Sundaram Finance Limited, 21 Patullos Road, Chennai – 600002,
Tamilnadu, India |
|
|
|
|
Auditors : |
|
|
Name : |
Brahmayya and Company Chartered Accountant |
|
Address : |
#403 & 404, Golden Green Apartments, Irrum Manzil Colony, India |
|
Pan No.: |
AADFB8032G |
|
|
|
|
Sister concern : |
|
CAPITAL STRUCTURE
As On 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3,000,000 |
Equity Shares |
Rs. 100/- each |
Rs. 300.000 Millions |
|
|
|
|
|
|
2,000,000 |
Preference Shares |
Rs. 100/- each |
Rs. 200.000 Millions |
|
|
Total |
|
Rs. 500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2,918,000 |
Equity Shares |
Rs. 100/-
each |
Rs. 291.800
Millions |
|
1,829,010 |
Preference Shares |
Rs. 100/-
each |
Rs. 182.901
Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 474.701 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 |
474.701 |
474.701 |
474.701 |
|
(b) Reserves & Surplus |
(29.564) |
21.311 |
17.680 |
|
(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) |
445.137 |
496.012 |
492.381 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
397.242 |
280.793 |
244.546 |
|
(b) Deferred tax liabilities (Net) |
0.977 |
23.519 |
24.362 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
398.219 |
304.312 |
268.908 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
97.661 |
85.928 |
63.549 |
|
(b) Trade
payables |
36.026 |
31.507 |
16.166 |
|
(c) Other
current liabilities |
118.109 |
103.396 |
73.692 |
|
(d) Short-term
provisions |
2.913 |
1.260 |
1.309 |
|
Total Current
Liabilities (4) |
254.709 |
222.091 |
154.716 |
|
|
|
|
|
|
TOTAL |
1098.065 |
1022.415 |
916.005 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
417.186 |
447.710 |
374.539 |
|
(ii)
Intangible Assets |
11.258 |
22.016 |
33.024 |
|
(iii)
Capital work-in-progress |
210.164 |
114.965 |
183.843 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.010 |
0.010 |
0.010 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
43.830 |
33.841 |
22.548 |
|
(e) Other
Non-current assets |
7.961 |
5.871 |
5.197 |
|
Total Non-Current
Assets |
690.409 |
624.413 |
619.161 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
211.062 |
199.240 |
154.948 |
|
(c) Trade
receivables |
72.430 |
80.063 |
68.782 |
|
(d) Cash
and cash equivalents |
54.986 |
54.055 |
25.136 |
|
(e)
Short-term loans and advances |
69.178 |
64.644 |
47.978 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
407.656 |
398.002 |
296.844 |
|
|
|
|
|
|
TOTAL |
1098.065 |
1022.415 |
916.005 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
897.408 |
971.654 |
710.222 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
902.008 |
916.084 |
667.345 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
(4.600) |
55.570 |
42.877 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
27.261 |
14.213 |
13.979 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(31.861) |
41.357 |
28.898 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
41.556 |
38.520 |
36.718 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
(73.417) |
2.837 |
(7.820) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(22.542) |
(0.794) |
(0.428) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(50.875) |
3.631 |
(7.392) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.10) |
---- |
---- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
(5.67) |
0.37 |
(1.04) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(0.51) |
5.72 |
6.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(8.27) |
0.31 |
(1.07) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.16) |
0.01 |
(0.02) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.11 |
0.74 |
0.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.60 |
1.79 |
1.92 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
474.701 |
474.701 |
474.701 |
|
Reserves & Surplus |
17.680 |
21.311 |
(29.564) |
|
Net
worth |
492.381 |
496.012 |
445.137 |
|
|
|
|
|
|
long-term borrowings |
244.546 |
280.793 |
397.242 |
|
Short term borrowings |
63.549 |
85.928 |
97.661 |
|
Total
borrowings |
308.095 |
366.721 |
494.903 |
|
Debt/Equity
ratio |
0.626 |
0.739 |
1.112 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
710.222 |
971.654 |
897.408 |
|
|
|
36.810 |
(7.641) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
710.222 |
971.654 |
897.408 |
|
Profit |
(7.392) |
3.631 |
(50.875) |
|
|
(1.04%) |
0.37% |
(5.67%) |
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 |
Yes |
|
20] |
Export
/ Import details (if applicable) |
No |
|
21] |
Market
information |
--------- |
|
22] |
Litigations
that the firm / promoter involved in |
--------- |
|
23] |
Banking
Details |
Yes |
|
24] |
Banking
facility details |
Yes |
|
25] |
Conduct
of the banking account |
---------- |
|
26] |
Buyer
visit details |
---------- |
|
27] |
Financials,
if provided |
Yes |
|
28] |
Incorporation
details, if applicable |
Yes |
|
29] |
Last
accounts filed at ROC |
Yes |
|
30] |
Major
Shareholders, if available |
Yes |
|
31] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Deferred payment liabilities |
171.522 |
171.522 |
|
Loans and advances from related parties |
52.500 |
39.500 |
|
Total |
224.022 |
211.022 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10114375 |
04/06/2008 |
1,452,720.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, Tamil Nadu - 600002, INDIA |
A42387688 |
|
2 |
10114377 |
04/06/2008 |
1,452,720.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, Tamil Nadu - 600002, INDIA |
A42440784 |
|
3 |
10114392 |
04/06/2008 |
1,452,720.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, Tamil Nadu - 600002, INDIA |
A42441253 |
|
4 |
10069992 |
22/08/2007 |
1,375,975.00 |
SUNDARAM FINANCE LTD |
21 PATULLOS ROAD, CHENNAI, Tamil Nadu - 600002, INDIA |
A24281719 |
|
5 |
10069993 |
22/08/2007 |
1,375,975.00 |
SUNDARAM FINANCE LTD |
21 PATULLOS ROAD, CHENNAI, Tamil Nadu - 600002, INDIA |
A24282360 |
|
6 |
10069994 |
22/08/2007 |
1,375,975.00 |
SUNDARAM FINANCE LTD |
21 PATULLOS ROAD, CHENNAI, Tamil Nadu - 600002, INDIA |
A24282667 |
|
7 |
90259344 |
28/06/2006 |
1,229,000.00 |
SUNDARAM FINANCE LIMITED |
NO. 21; PATULLOS ROAD, CHENNAI, Tamil Nadu - 60000 |
- |
|
8 |
10015655 |
03/05/2006 |
1,217,550.00 |
M S SUNDARAM FINANCE LIMITED |
NO 21 PATULLOS ROAD, CHENNAI, Tamil Nadu - 600002, |
A01077874 |
|
9 |
10015657 |
03/05/2006 |
1,217,550.00 |
M S SUNDARAM FINANCE LIMITED |
NO 21 PATULLOS ROAD, CHENNAI, Tamil Nadu - 600002, |
A01077999 |
|
10 |
10015660 |
03/05/2006 |
1,217,550.00 |
M S SUNDARAM FINANCE LIMITED |
NO 21 PATULLOS ROAD, CHENNAI, Tamil Nadu - 600002, |
A01078161 |
* Date of charge modification
FIXED ASSETS
- Buildings
- Plant and
machinery
- Furniture and
fixture
- Computers
- Vehicles
- Office
equipment
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 records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] 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.61.97 |
|
|
1 |
Rs.97.36 |
|
Euro |
1 |
Rs.77.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
29 |
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.