MIRA INFORM REPORT
|
Report Date : |
13.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
LAFARGE AGGREGATES AND CONCRETE INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Equinox Business Park, Tower 3, East Wing, 4th Floor, LBS
Marg, Kurla (West), Mumbai – 400070, |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
29.10.2007 |
|
|
|
|
Com. Reg. No.: |
11-175495 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 16758.415 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900MH2007PTC175495 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCL3845L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturing and Selling of Ready Mixed Concrete and
Trading and Manufacturing of Aggregates. |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
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 |
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|
|
Comments : |
Subject is a part of It is an established company having a satisfactory track record. There appear huge accumulated losses recorded by the company. However, the capital base of the company appears to be strong, as it
receives good financial as well as managerial support from its holding
company. Trade relations are reported to be fair. Business is active. Payments
are reported as usually correct. In view of experienced management and strong parent, the subject can
be considered for business dealings 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 – 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loans = A- |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
November 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non Fund Based Facility = A1 |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
November 2013 |
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 DECLINED BY
|
Name : |
Mr. Manoj |
|
Designation : |
Treasury Department |
|
Contact No.: |
91-22-67692500 |
|
Date : |
12.12.2014 |
LOCATIONS
|
Registered/ Head Office/ Factory 1 : |
Equinox Business Park, Tower 3, East Wing, 4th Floor, LBS
Marg, Kurla (West), Mumbai – 400070, |
|
Tel. No.: |
91-22-66306511/ 67692500 |
|
Fax No.: |
91-22-66306510/ 67692517 |
|
E-Mail : |
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|
Website : |
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Factory 2 : |
Survey No.37, Hissa No.1 and 2, Village-Bhayenderpada, Near Ovala, |
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|
Regional Operations
Office : |
DLF IT Park-1, Block- A1, 8th floor, Major Arterial Road, New Town, Rajarhat, Kolkata – 700156, West Bengal, India |
|
Tel. No.: |
91-33-39832100 |
|
Fax No.: |
91-33-39832133 |
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|
|
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Regional Sales
Offices : |
Located at: · Kolkata · Raipur · Jharkhand · Patna · Bhubaneswar · Guwahati |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Vikram Arvind Wagh |
|
Designation : |
Managing director |
|
Address : |
G-8, Gulab Baug, A. Soares Road, Chembur, Mumbai – 400071,
Maharashtra, India |
|
Date of Birth/Age : |
03.01.1966 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
25.05.2012 |
|
PAN No.: |
AAAPW1211F |
|
DIN No.: |
00010979 |
|
|
|
|
Name : |
Mrs. Sonal Shrivastava |
|
Designation : |
Director |
|
Address : |
E-602, 6th Floor, Rakhee Vasant Utsav, Thkur Village,
Kandivali (East), Mumbai – 400101, Maharashtra, India |
|
Date of Birth/Age : |
07.06.1970 |
|
Date of Appointment : |
20.02.2013 |
|
PAN No.: |
AXAPS5233J |
|
DIN No.: |
06497446 |
|
|
|
|
Name : |
Mr. Mohit Kapoor |
|
Designation : |
Director |
|
Address : |
R 565 N, Rajinder Nagar, New
Delhi – 110060, India |
|
Date of Birth/Age : |
30.06.1971 |
|
Qualification : |
BE (Electronics) and PGDM |
|
Date of Appointment : |
04.09.2013 |
|
PAN No.: |
ALBPK6345A |
|
DIN No.: |
06669817 |
|
|
|
|
Name : |
Mr. Binoy Misra |
|
Designation : |
Director |
|
Address : |
Plot No. 2F, Block 1, Ceebross, Shyamala Gardens, 136 Arcot Road,
Saligramam, Chennai – 600093, Tamilnadu, India |
|
Date of Birth/Age : |
02.11.1967 |
|
Date of Appointment : |
04.09.2013 |
|
PAN No.: |
ABXPM6578P |
|
DIN No.: |
06679592 |
KEY EXECUTIVES
|
Name : |
Mr. Manoj |
|
Designation : |
Treasury Department |
|
|
|
|
Name : |
Mr. Pawan Kumar Laddha |
|
Designation : |
Company Secretary |
|
Address : |
D-313, National Garden, Takka, Panvel – 410206, Maharashtra, India |
|
Date of Birth/Age : |
19.09.1979 |
|
Date of Appointment : |
01.05.2013 |
|
PAN No.: |
ABJPL5916G |
|
|
|
|
Name : |
Frederic Guimbal |
|
Designation : |
CEO-RMX |
|
|
|
|
Name : |
Mr. Ganesh Naik |
|
Designation : |
Sr. Vice President |
|
|
|
|
Name : |
Mrs. Aparna Sharma |
|
Designation : |
Country Head - HR |
|
|
|
|
Name : |
Andrew East |
|
Designation : |
Manufacturing Manager - Aggregates |
|
|
|
|
Name : |
Lionel Bourbon |
|
Designation : |
Head - CDL |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2014
|
Names of Shareholders |
|
No. of Shares |
|
Financiere Lafarge, France |
|
1 |
|
Lafarge India Private Limited, India |
|
1675841499 |
|
|
|
|
|
Total |
|
1675841500 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of Ready Mixed Concrete and
Trading and Manufacturing of Aggregates. |
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Products/ Services : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
· The Hongkong and Shanghai Banking Corporation Limited Plot No. 139-140B, Western Express Highway, Sahar Road
Junction, Ville Parle (East), Mumbai - 400057, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S.R. Batliboi and Company LLP Chartered Accountants |
|
Address : |
The Ruby, 16th Floor, 29, Senapati Bapat Marg,
Dadar (Wast), Mumbai – 400028, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AALFS0506L |
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|
|
|
Ultimate Holding
company : |
Lafarge SA |
|
|
|
|
Holding company : |
· Lafarge India Private Limited [U26940MH1999PTC118229] ·
Financiere Lafarge |
|
|
|
|
Fellow Subsidiaries
: |
· USG Boral Building Products (India) Private Limited [U28939DL2006PTC150597] · Lafarge Brasil S.A · Lafarge Concrete (Malaysia) Sdn · Lafarge Canada Inc · Lafarge International Service Singapore Pte Limited · Lafarge Mahaweli Cement (Private) Limited · Lafarge Granulats BetonsServices · Lafarge Asia Sdn · Lafarge Aggregates Sdn Bhd · Lafarge Emirates Cement LLC · Lafarge Building Materials · Lafarge Betons Vallee De · Lafarge Centre de Recerche · Lafarge North America · Lafarge A&C Technical Service (Beijing) Co. Limited · Batong Angono Aggregates Corporation ·
Lafarge UK Services Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,800,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 18000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,675,841,500 |
Equity Shares |
Rs. 10/- each |
Rs. 16758.415 Millions |
|
|
|
|
|
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 |
16758.415 |
16758.415 |
16758.415 |
|
(b) Reserves & Surplus |
(10120.753) |
(7571.476) |
(5754.649) |
|
(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) |
6637.662 |
9186.939 |
11003.766 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
33.333 |
66.667 |
100.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
35.932 |
30.557 |
24.201 |
|
Total
Non-current Liabilities (3) |
69.265 |
97.224 |
124.201 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
812.732 |
440.000 |
200.000 |
|
(b)
Trade payables |
2750.793 |
2898.845 |
2177.740 |
|
(c)
Other current liabilities |
456.517 |
414.661 |
418.996 |
|
(d)
Short-term provisions |
51.526 |
42.099 |
42.228 |
|
Total
Current Liabilities (4) |
4071.568 |
3795.605 |
2838.964 |
|
|
|
|
|
|
TOTAL |
10778.495 |
13079.768 |
13966.931 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
2049.165 |
2407.754 |
2198.771 |
|
(ii)
Intangible Assets |
5563.813 |
6874.539 |
8242.703 |
|
(iii)
Capital work-in-progress |
75.262 |
217.639 |
392.496 |
|
(iv) Intangible assets under development |
0.449 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
264.579 |
329.215 |
318.019 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
7953.268 |
9829.147 |
11151.989 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
199.787 |
222.814 |
207.089 |
|
(c)
Trade receivables |
2265.140 |
2496.826 |
2167.684 |
|
(d)
Cash and cash equivalents |
180.264 |
398.432 |
303.282 |
|
(e)
Short-term loans and advances |
179.802 |
132.305 |
136.786 |
|
(f)
Other current assets |
0.234 |
0.244 |
0.101 |
|
Total
Current Assets |
2825.227 |
3250.621 |
2814.942 |
|
|
|
|
|
|
TOTAL |
10778.495 |
13079.768 |
13966.931 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
11016.000 |
12424.000 |
15409.000 |
|
|
|
Other Income |
90.000 |
70.000 |
NA |
|
|
|
TOTAL |
11106.000 |
12494.000 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
11636.000 |
12594.000 |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(530.000) |
(100.000) |
485.000 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
78.000 |
37.000 |
308.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(608.000) |
(137.000) |
177.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1671.000 |
1680.000 |
2041.000 |
|
|
|
|
|
|
|
|
|
|
EXCEPTIONAL
ITEMS |
270.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(2549.000) |
(1817.000) |
(1864.000) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(2549.000) |
(1817.000) |
(1864.000) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(1.52) |
(1.08) |
(1.36) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(23.14) |
(14.62) |
(12.10) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(4.81) |
(0.80) |
3.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(23.82) |
(14.13) |
(13.73) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.38) |
(0.20) |
(0.17) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.13 |
0.06 |
0.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.69 |
0.86 |
0.99 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
16758.415 |
16758.415 |
16758.415 |
|
Reserves & Surplus |
(5754.649) |
(7571.476) |
(10120.753) |
|
Net
worth |
11003.766 |
9186.939 |
6637.662 |
|
|
|
|
|
|
Long-term borrowings |
100.000 |
66.667 |
33.333 |
|
Short term borrowings |
200.000 |
440.000 |
812.732 |
|
Total
borrowings |
300.000 |
506.667 |
846.065 |
|
Debt/Equity ratio |
0.027 |
0.055 |
0.127 |
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 |
15409.000 |
12424.000 |
11016.000 |
|
|
|
-19.372 |
-11.333 |
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 |
15409.000 |
12424.000 |
11016.000 |
|
Profit/ (Loss) |
(1864.000) |
(1817.000) |
(2549.000) |
|
|
(12.10%) |
(14.62%) |
(23.14%) |
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 |
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
230.000 |
0.000 |
|
|
|
|
|
Total |
230.000 |
0.000 |
NATURE OF OPERATIONS
The Company was incorporated on October 29, 2007 and is
engaged in the business of manufacture and sale of Ready Mixed Concrete and
trading and manufacturing of Aggregates.
OVERVIEW AND
REVIEW OF OPERATIONS
RMX
Indian economy grew at 4.7% in 2013-14 with industrial growth slipping
to paltry 0.7%. This was despite expectations of rise in the demand and
increase in the government spending in the run up to general elections. The
slowdown in economic growth in the industrial sector attributed to various
factors such as high interest rates, inflation, rupee depreciation, high fiscal
deficit and global slowdown.
With the new Government in place, expectations are that reforms will
take place in infrastructure, foreign direct investments, housing for all.
Economic growth is expected to be 5% in 2014-15.
During the year, the Company has primarily been engaged in Ready-mix
business operations. The Company has relocated/closed some of the old plants
from saturated and remote markets. Most of these locations have plants which
were facing frequent break-down and service related issues. Therefore it was
decided to either dispose them off or use them for projects. The Company has
established operations in Gurgaon and has also forayed its footprints in Jaipur
Metro and Delhi Metro projects, thereby expanding its scope in projects.
The Company continued its efforts towards cost optimization and
operational efficiencies which to some extent helped in containing costs.
AGGREGATES
During the year, the sales revenue increased by 68% versus previous
year. This increase was mainly driven by Delhi market which continued to grow
at a rapid pace and they were able to fully utilize their existing capacity
there. The Mumbai market was steady. The Badlapur market is small in size due
to location issues and lack of infrastructure substantial projects. These
issues impose limits on capacity utilization of the Badlapur plant, hindering
profitability in the short term.
The track mounted plant of the design that is operating at Kotputli is
inherently characterized by high fuel consumption and maintenance costs which
significantly impacts the margins. Increase in freight costs due to higher
diesel prices continues to impact margins. During the year, several steps have
been initiated to reduce administrative costs.
The uncertainties in the global economic situation have had a severe
adverse impact on India's economy especially the infrastructure and real estate
sector. There was significant reduction in new investments and the sector also
faced acute liquidity crunch. During the year, the Company has achieved a
turnover of 11,016 mINR (net of excise duty) from the sale of the Ready Mix
Concrete and Aggregates. The Company recorded an EBITDA of INR (530) mINR
compared to (100) mINR during the previous year.
FUTURE OUTLOOK
RMX
The outlook in the short term continues to remain challenging, demand
growth in the long term is likely to be around 8% on the back of housing and
infrastructure spends as outlined in the 12th five year plan (2012-17). The
total investment in the infrastructure sector in the 12th Five year plan is
estimated to be USD 1 Trillion.
The Company provides wide range of products to meet all concrete needs
of customers delivered with the assurance of on-time, guaranteed quantity and
quality. The Company has the unique combination of strategically located plants
(backed by assured linkages to good quality cement and aggregates) which are
operated through automated operation software that guarantees quality and
quantity integrity. The main focus would be to increase value added product
(VAP) penetration over 35%.
The Company’s focus in India over the next 2 to 3 years is to
significantly expand exposure to the infrastructure segment by building better
cities with innovative value added products which has been the forte of Lafarge
worldwide as a solution provider to construction industry. The focus on
project-based plants will facilitate infrastructure development such as High
Multistoried - Residential / Commercial and other Infra Projects- Ports, Roads,
Dams, Power Plants, Bridges. Delhi Metro and Jaipur Metro project has been
initiated and is expected to pick up volumes in coming months. The Company has
also been actively pursuing many other projects and negotiation/biddings are in
advanced stage of finalization. The Company has a dedicated technology centre
in Mumbai-Construction Development Lab which has started working closely with
customers to create innovative products that are not just more efficient,
aesthetically superior but also environment friendly.
AGGREGATES
The Aggregates product line as embarked on an 'Asset Optimization'
Project. This project envisages structural changes in the plants at Badlapur
and Kotputli so that both sites are aligned to produce aggregates in line with the
requirements of the market. Essentially, they are adding capacity at Kotputli/
NCR, which is a high volume market, while streamlining Badlapur, which is a
limited volume market. Both areas will also reduce costs and produce higher
amounts of high value products as a result. They are also establishing own
manufacturing in the Kolkata market, where they have established a foothold via
trading operations.
The product line is also looking for like-minded partners who can
associate themselves with Lafarge to grow the business using non-capital
intensive models. In addition, the focus continues to be on identifying minor
mineral reserves at strategic locations in the country to set up mining
activities and stone processing activities aligned with their Country Plan.
FIXED ASSETS:
· Land
· Buildings
· Furniture and fixtures
· Plant and equipment
· Vehicles
· Office equipment
· Computer equipments
· Other equipments
· Goodwill
· Brands and trade marks
· Trade marks
· Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.44 |
|
|
1 |
Rs. 98.15 |
|
Euro |
1 |
Rs. 77.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.