MIRA INFORM REPORT
|
Report Date : |
09.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
HILL AND SMITH INFRASTRUCTURE PRODUCTS INDIA PRIVATE LIMITED |
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Registered
Office : |
574, 3rd Floor, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
18.08.2010 |
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Com. Reg. No.: |
55-207260 |
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Capital
Investment / Paid-up Capital : |
Rs. 37.322 Millions |
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CIN No.: [Company Identification
No.] |
U51430DL2010PTC207260 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELH07681C |
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PAN No.: [Permanent Account No.] |
AACCH4842C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the provision of services
relating to-dealers in infrastructure products for roads, rail, utilities and
security including the supply of the products and services such as
permanent and temporary road safety
barriers, fencing, overhead sign gantries, street
lightning columns, bridge parapets, demountable car parks, glass reinforced
plastic railway platforms, variable road messaging solutions,
traffic data collectors systems, plastic drainage pipes and pipe
supports for the power and LNG markets, energy
grid components and security fencing. |
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|
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No. of Employees
: |
31 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a company with limited operational history having moderate
track record. Management has failed to file latest financials for FY14, with the
statutory authorities. As per available, the company has reported consecutive losses, leading
to accumulation of the same during FY 13. However, trade relations seems to be fair. Business is active. Payment
terms are reported as slow but correct. 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
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 (GENERAL DETAILS)
|
Name : |
Mr. Dhiraj Kumar |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-124-4259996 |
|
Date : |
08.12.2014 |
LOCATIONS
|
Registered Office : |
574, 3rd Floor, Main Road, Chirag Delhi, New Delhi - 110017 |
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Tel. No. : |
91-11-30004995 |
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Fax No. : |
Not Available |
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E-Mail : |
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Location : |
Owned |
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Locality : |
Residential |
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Factory : |
Plot No. 478, Sector – 8, IMT, Manesar, Gurgaon – 122050, Haryana,
India |
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Tel. No.: |
91-124-4259996/ 4367411 |
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Fax No.: |
91-124-4259996 |
|
Location : |
Rented |
DIRECTORS
As on 27.09.2013
|
Name : |
Mr. Vayalur Rajagopalan Kedareshwaran |
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Designation : |
Director |
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Address : |
A-603, Sadhbavana Apartments, Him Hij CGHS Limited, Plot No-8, Sec-22,
Dwarka Phase-I, New Delhi - 110077, India |
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Date of Appointment : |
27.09.2013 |
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DIN No. : |
02928390 |
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Other Directorship :
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Name : |
Mr. Bernard Richard Greene |
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Designation : |
Director |
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Address : |
Maryland, Hedsor Road, Bourne End, SL8 5DH, Maryland, 5DH, United
Kingdom |
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Date of Birth/Age : |
01.09.1952 |
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Date of Appointment : |
18.08.2010 |
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DIN No. : |
03121111 |
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Name : |
Mr. Mark Andrew Tonks |
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Designation : |
Director |
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Address : |
Field Piece, Fox Road, Seisdon, Wolverhampton, WV5 7HD, Wolverhampton,
7HD, United Kingdom |
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Date of Birth/Age : |
03.05.1962 |
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Date of Appointment : |
18.08.2010 |
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DIN No. : |
03121135 |
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KEY EXECUTIVES
|
Name : |
Mr. Dhiraj Kumar |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2013
|
Names of Shareholders |
No. of Shares |
|
Hill and Smith Overseas Limited, England |
3732189 |
|
Hill and Smith Holdings PLC, England |
1 |
|
Total |
3732190 |
As on 27.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the provision of services
relating to-dealers in infrastructure products for roads, rail, utilities and
security including the supply of the products and services such as
permanent and temporary road safety
barriers, fencing, overhead sign gantries, street
lightning columns, bridge parapets, demountable car parks, glass reinforced
plastic railway platforms, variable road messaging solutions,
traffic data collectors systems, plastic drainage pipes and pipe
supports for the power and LNG markets, energy
grid components and security fencing. |
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Exports : |
-- |
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Imports : |
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Products : |
Finished Goods |
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Countries : |
UK |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users |
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No. of Employees : |
31 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
Srivatsa CS and Company Chartered Accountants |
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Address : |
E-46, DGS Society, Plot No. 6, Sector 22, Dwarka, New Delhi – 110077, India |
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Tel. No. : |
91-11-42804099/ 4756499 |
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Mobile No. : |
91-9899109373 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AUAPS9435K |
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Holding Company : |
· Hill and Smith Overseas Limited, UK |
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Fellow Subsidiaries : |
· CA Traffic Limited · Techspan systems |
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Other Related Parties : |
· Hill and Smith Limited, UK · Hill and Smith PLC · VRK Eshasium |
CAPITAL STRUCTURE
As on 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,900,000 |
Equity Shares |
Rs.10/- each |
Rs. 69.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,732,190 |
Equity Shares |
Rs.10/- each |
Rs. 37.322 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 (12 Months) |
31.03.2012 (15 Months) |
|
I.
EQUITY
AND LIABILITIES |
|
|
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|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
37.322 |
18.630 |
|
(b) Reserves & Surplus |
|
(25.706) |
(11.746) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
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(2)
Share Application money pending allotment |
|
0.000 |
18.692 |
|
Total Shareholders’
Funds (1) + (2) |
|
11.616 |
25.576 |
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(3) Non-Current
Liabilities |
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(a) long-term borrowings |
|
0.000 |
0.000 |
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(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
|
0.000 |
0.000 |
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(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
0.000 |
0.000 |
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(b) Trade
payables |
|
10.247 |
6.098 |
|
(c) Other
current liabilities |
|
12.585 |
0.946 |
|
(d) Short-term
provisions |
|
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
|
22.832 |
7.044 |
|
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|
|
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TOTAL |
|
34.448 |
32.620 |
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II.
ASSETS |
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|
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(1) Non-current assets |
|
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(a) Fixed
Assets |
|
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(i)
Tangible assets |
|
0.905 |
1.221 |
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(ii)
Intangible Assets |
|
0.181 |
0.075 |
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(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
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(iv)
Intangible assets under development |
|
0.000 |
0.000 |
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(b) Non-current Investments |
|
0.000 |
0.000 |
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(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.105 |
0.115 |
|
(e) Other
Non-current assets |
|
0.228 |
0.342 |
|
Total Non-Current
Assets |
|
1.419 |
1.753 |
|
|
|
|
|
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(2) Current assets |
|
|
|
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(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
13.631 |
3.112 |
|
(c) Trade
receivables |
|
9.901 |
6.250 |
|
(d) Cash
and cash equivalents |
|
7.819 |
20.998 |
|
(e)
Short-term loans and advances |
|
1.342 |
0.475 |
|
(f) Other
current assets |
|
0.336 |
0.032 |
|
Total
Current Assets |
|
33.029 |
30.867 |
|
|
|
|
|
|
TOTAL |
|
34.448 |
32.620 |
|
SOURCES OF FUNDS |
|
|
18.08.2010 -31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.100 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(0.469) |
|
|
NETWORTH |
|
|
(0.369) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
(0.369) |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.157 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.020 |
|
|
Cash & Bank Balances |
|
|
0.000 |
|
|
Other Current Assets |
|
|
0.100 |
|
|
Loans & Advances |
|
|
0.000 |
|
Total
Current Assets |
|
|
0.120 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1.082 |
|
|
Other Current Liabilities |
|
|
0.020 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
1.102 |
|
|
Net Current Assets |
|
|
(0.982) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.456 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
(0.369) |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 (12 Months) |
31.03.2012 (15 Months) |
18.08.2010 -31.12.2010 |
|
|
|
|
|
|
|
|
|
|
GROSS TURNOVER |
10.447 |
5.392 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(12.684) |
(10.842) |
(0.458) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.275 |
0.435 |
0.011 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(13.959) |
(11.277) |
(0.469) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(13.959) |
(11.277) |
(0.469) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(11.746) |
(0.469) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(25.705) |
(11.746) |
(0.469) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
9.353 |
5.488 |
NA |
|
|
TOTAL IMPORTS |
9.353 |
5.488 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(4.99) |
(34.42) |
(46.90) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 (12 Months) |
31.03.2012 (15 Months) |
18.08.2010 -31.12.2010 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(40.52) |
(34.57) |
(169.31) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.20) |
(0.44) |
1.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.45 |
4.38 |
0.11 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012
(15
Months) |
31.03.2013
(12
Months) |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
18.630 |
37.322 |
|
Reserves & Surplus |
(11.746) |
(25.706) |
|
Share Application money
pending allotment |
18.692 |
0.000 |
|
Net
worth |
25.576 |
11.616 |
|
|
|
|
|
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 |
18.08-2010
- 31.12.2010 |
31.03.2012
(15
Months) |
31.03.2013
(12
Months) |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Gross Turnover |
0.000 |
5.392 |
10.447 |
|
|
|
|
93.750 |
NET PROFIT MARGIN
|
Net
Profit Margin |
18.08-2010
- 31.12.2010 |
31.03.2012
(15 Months) |
31.03.2013
(12 Months) |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Gross Turnover |
0.000 |
5.392 |
10.447 |
|
Profit/ (Loss) |
(0.469) |
(11.277) |
(13.959) |
|
|
|
(209.14%) |
(133.62%) |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
BACKGROUND
The Company is a subsidiary of HILL
and SMITH OVERSEAS LIMITED, UK which has a 99.99%
shareholding as at period end and is
engaged in the provision of services relating to-dealers
in infrastructure products for roads, rail,
utilities and security including the supply
of the products and services such as permanent
and temporary road safety barriers, fencing, overhead sign gantries, street lightning columns, bridge parapets,
demountable car parks, glass reinforced plastic railway platforms, variable road
messaging solutions, traffic data collectlorts systems, plastic drainage pipes & pipe
supports for the power and LNG markets, energy
grid components and security fencing.
FIXED ASSETS
· Office Equipment
· Computer
· Tools and Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No 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.61.93 |
|
|
1 |
Rs.96.37 |
|
Euro |
1 |
Rs.76.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
27 |
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.