MIRA
INFORM REPORT
|
Report Date : |
22.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
WELSPUN STEEL LIMITED (w.e.f. 26.05.2010) |
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Formerly Known
As : |
WELSPUN POWER AND STEEL LIMITED |
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Registered
Office : |
S N 650 Village Varsamedital Anjar, Dist Kutch – 370110 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
03.06.2004 |
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Com. Reg. No.: |
04-044249 |
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Capital
Investment / Paid-up Capital : |
Rs. 1100.900 Millions |
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CIN No.: [Company Identification
No.] |
U27109GJ2004PLC044249 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
RKTW00058C |
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PAN No.: [Permanent Account No.] |
AAACW5308G |
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Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business
: |
Manufacturer of iron and steel products. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade relations seems to be fair. Business is active. Payment terms
are reported as usually correct. The company 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
April 16, 2014 |
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Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit. |
|
Date |
April 16, 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. Manoj Chaturvedi |
|
Designation : |
AGM in Finance |
|
Contact No.: |
91-9879202769 |
|
Date : |
19.12.2014 |
LOCATIONS
|
Registered Office : |
S N 650 Village Varsamedital Anjar, Dist Kutch – 370110, |
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Tel. No.: |
91-2836-279051 / 53 / 54 / 55 / 56 |
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Mobile No.: |
91-9879202769 (Manjoj Chaturvedi) |
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Fax No.: |
91-2836-279050 |
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E-Mail : |
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Website : |
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Corporate Office : |
Welspun House, 7th Floor, Kamala Mills Compound, Senapati Bapat
Marg, Lower Parel, Mumbai - 400013, |
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Tel. No.: |
91-22-66136000 |
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Fax No.: |
91-22-24908020 |
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Branch Office 1 : |
23 HIG, BDA Housing Complex, Gangadhar Meher Nagar, Jayadev Vihar,
Bhubaneshwar - 751013, |
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Tel. No.: |
91-674-2300223 |
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Fax No.: |
91-674-2300224 |
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Branch Office 2: |
GIDC Industrial Estate, |
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Tel. No.: |
91-2645-226305/6/7 |
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Fax No.: |
91-2645-220403 |
DIRECTORS
As On 30.09.2014
|
Name : |
Balkrishnan Goenka |
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Designation : |
Director |
|
Address : |
Rocky Isle 46/C, Bhulabhai Desai Road, Breach Candy,
Mumbai - 400026, Maharashtra, India |
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Date of Birth/Age : |
15.08.1966 |
|
Qualification : |
B. Com |
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Date of Appointment : |
03.06.2004 |
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PAN No.: |
AEOPG4891D |
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DIN No.: |
00270175 |
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Name : |
Mr. Rajesh Rameshkumar Mandawewala |
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Designation : |
Director |
|
Address : |
161/171-B, Opposite Sidhivinayak Temple, Tanna Residency, Prabhadevi,
Mumbai - 400025, Maharashtra, India |
|
Date of Birth/Age : |
05.05.1962 |
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Qualification : |
F.C. A. |
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Date of Appointment : |
01.09.2006 |
|
DIN No.: |
00007179 |
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Name : |
Mr. S.R. Somani |
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Designation : |
Director |
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Address : |
N-8/18, Ganapati Niwas, Bangur Niwas, Goregaon (West), Mumbai –
400090, Maharashtra, India |
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Date of Birth/Age : |
23.01.1948 |
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Date of Appointment : |
22.03.2006 |
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DIN No.: |
00005017
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|
Name : |
Mr. Ram Gopal Sharma |
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Designation : |
Director |
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Address : |
E-707, Military Road, Off Marol Maroshi Road, Lok Sarita
Building, Andheri (East), Mumbai - 400059, Maharashtra, India |
|
Date of Birth/Age : |
11.09.1940 |
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Qualification : |
B.com, M.A. (Economics) |
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Date of Appointment : |
10.05.2006 |
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DIN No.: |
00026514 |
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Name : |
Mr. Anuj Burakia |
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Designation : |
Director |
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Address : |
B-108, NU-10B, Shakti Nagar, Gandhidham – 370201, Gujarat,
India |
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Date of Birth/Age : |
27.06.1979 |
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Qualification : |
CA |
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Date of Appointment : |
01.08.2011 |
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PAN No.: |
AGCPB8871E |
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DIN No.: |
02840211 |
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|
|
|
Name : |
Apurba Kumar Dasgupta |
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Designation : |
Director |
|
Address : |
Bunglow No.10, Ipshita, Dreamland Co-Op. Society, Alycious Soares Marg, Near Diamond Gardens, Mumbai – 400071, Maharashtra, India |
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Date of Birth/Age: |
02.04.1935 |
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Date of Appointment : |
19.05.2014 |
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DIN No.: |
00043075
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Name : |
Khushboo Mandaweala |
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Designation : |
Director |
|
Address : |
161/171-B, Tanna Residency, Opposite Sidhivinayak Temple, Prabhadevi, Mumbai – 400025, Maharashtra, India |
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Date of Birth/Age: |
29.01.1987 |
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Date of Appointment : |
07.08.2014 |
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DIN No.: |
06942156
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KEY EXECUTIVES
|
Name : |
Rashmi Mamtura |
|
Designation : |
Secretary |
|
Address : |
B-2, Ekvira Niwas, P.G. Marg, Bhandar Wada, Malad (West), Mumbai –
400064, Maharashtra, India |
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Date of Birth/Age : |
23.01.1987 |
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Date of Appointment : |
13.10.2011 |
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PAN No.: |
BAHPM5142B |
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|
Name : |
Mr. Manoj Chaturvedi |
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Designation : |
AGM in Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age |
|
Krishiraj Trading Limited, India |
54350100 |
49.37 |
|
Welspun Finance Limited, India |
10000 |
0.01 |
|
Welspun Mercantile Limited, India |
6659600 |
6.05 |
|
Welspun Fintrade Limited, India |
40950000 |
37.20 |
|
Welspun Wintex Limited, India |
2120000 |
1.93 |
|
Goldenarch Estates Private Limited, India |
1000000 |
0.91 |
|
Welspun Investments and Commercials, India |
5000000 |
4.54 |
|
Welspun Zucchi Textiles Limited, India |
100 |
0.00 |
|
Welspun Syntex Limited, India |
100 |
0.00 |
|
Welspun India Limited, India |
100 |
0.00 |
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|
|
|
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Total |
110090000 |
100.00 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
%2022-Dec-2014_files/image002.gif)
BUSINESS DETAILS
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Line of Business : |
Manufacturer of iron and steel products. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
· Standard Chartered Bank, Abhijeet II, Ground Floor, Near Mithakali Six Roads, Ahmedabad - 380006, Gujarat, India · Andhra Bank, 16B, 16th Floor, Earnest House, 194, NCPA Marg, Nariman Point, Mumbai - 400021, Maharashtra, India ·
Punjab National Bank, IIIaco House, Sir P. M.
Road, Fort, Mumbai - 400001, Maharashtra, India · ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India · Axis Bank Limited · ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India · State Bank of Saurastra · Yes Bank · State Bank of Travnacore · State Bank of Indore · State Bank of Patiala · IDBI Bank Limited · State Bank of Bikaner and Jaipur · Kotak Bank · United Bank of India · Vijya Bank · Indusind Bank Limited · Andhra Bank |
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Facilities : |
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Financial Institution : |
SBICAP Trustee Company Limited, 202, Maker Tower, 'E', Cuffe Parade,, Colaba,, Mumbai, Maharashtra - 400005, India |
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Auditors : |
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|
Name : |
Suresh Surana and Associates Chartered Accountants |
|
Address : |
B-301 Mehvish Tower Patel Complex Mira Village Mira Road (East),
District Thane Mira Road, Thane– 401104, Maharashtra, India |
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PAN No.: |
ABAPV2006L |
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Memberships : |
-- |
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Collaborators : |
-- |
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Related Party : |
· Welspun Captive Power Generation Limited (CIN No.: U40100GJ2010PLC060502) · Welspun Maxsteel Limited (CIN No.: U27100GJ2008PLC064145) · Welspun Syntex Limited (CIN No.: L99999DN1983PLC000045) · Welspun Steel Resources Private Limited (CIN No.: U27109GJ2009PTC055893) · Welspun Orissa Steel Private Limited (CIN No.: U45400OR2007PTC015831) · WS Trading And Holding Private Limited (CIN No.: U51909GJ2013PTC076194) · Welspun Logistics Limited (CIN No.: U63012MH2006PLC165280) · PT Batubara Energy Indonesia · PT Bangun Energy Indonesia · Welspun Energy Private Limited (CIN No.: U51909GJ2002PTC041136) · Welspun Fintrade Private Limited (CIN No.: U65910GJ1982PTC055383) · Krishiraj Trading Limited (CIN No.: U65990GJ1992PLC050965) · Welspun Wintex Limited (CIN No.: U17120GJ1985PTC056127) · Welspun Tradings Limited (CIN No.: U72200GJ2001PLC039513) |
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Subsidiaries : |
·
Welspun Orissa Steel Private
Limited (upto27/12/2013) ·
PT. Batubara Energy Indonesia (upto
22/07/2013) PT. Bangun Energy Indonesia
(upto 22/07/2013) ·
WS Trading and Holding Private
Limited (w.e.f.26/07/2013) |
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Associates : |
· RMG Alloy Steel Limited (formerly known as Remi Metals Guajarat Limited) · Welspun Captive Power Generation Limited (upto 01/04/2013) · Welspun Natural Resources (Australia) Pty. Ltd. (w.e.f. 30 March 2013) (upto 30 March 2014) |
CAPITAL STRUCTURE
As On 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1500.000 Millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
125,500,000 |
Equity Shares |
Rs. 10/-
each |
Rs. 1255.000
Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
110,090,000 |
Equity Shares |
Rs. 10/-
each |
Rs. 1100.900
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 |
1100.900 |
1100.900 |
590.960 |
|
(b) Reserves & Surplus |
8100.500 |
8454.042 |
6789.226 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) 0 |
349.999 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
9551.399 |
9554.942 |
7380.186 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1899.787 |
2996.425 |
2631.563 |
|
(b) Deferred tax liabilities (Net) |
98.584 |
229.073 |
60.693 |
|
(c) Other long term liabilities |
146.812 |
163.625 |
0.000 |
|
(d) long-term provisions |
3.620 |
4.452 |
4.658 |
|
Total Non-current Liabilities (3) |
2148.803 |
3393.575 |
2696.914 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
244.551 |
291.513 |
349.048 |
|
(b) Trade payables |
2037.300 |
1772.445 |
1493.829 |
|
(c) Other current
liabilities |
452.202 |
1708.527 |
783.238 |
|
(d) Short-term provisions |
0.641 |
0.638 |
15.050 |
|
Total Current Liabilities (4) |
2734.694 |
3773.123 |
2641.165 |
|
|
|
|
|
|
TOTAL |
14434.896 |
16721.640 |
12718.265 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4065.441 |
3896.493 |
2072.199 |
|
(ii) Intangible Assets |
1.999 |
0.159 |
0.309 |
|
(iii) Capital
work-in-progress |
148.892 |
380.422 |
227.861 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
6335.869 |
7998.739 |
6830.339 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
492.894 |
509.327 |
425.768 |
|
(e) Other Non-current assets |
41.718 |
66.651 |
57.140 |
|
Total Non-Current Assets |
11086.813 |
12851.791 |
9613.616 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
164.986 |
53.151 |
20.487 |
|
(b) Inventories |
947.558 |
1260.295 |
1164.881 |
|
(c) Trade receivables |
649.976 |
425.891 |
279.175 |
|
(d) Cash and cash
equivalents |
632.929 |
577.719 |
428.758 |
|
(e) Short-term loans and
advances |
703.714 |
1262.404 |
1122.933 |
|
(f) Other current assets |
248.920 |
290.389 |
88.415 |
|
Total Current Assets |
3348.083 |
3869.849 |
3104.649 |
|
|
|
|
|
|
TOTAL |
14434.896 |
16721.640 |
12718.265 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5257.605 |
4688.778 |
3034.169 |
|
|
|
Other Income |
117.791 |
498.519 |
100.615 |
|
|
|
TOTAL (A) |
5375.396 |
5187.297 |
3134.784 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
3770.045 |
3314.271 |
2257.477 |
|
|
|
Purchases of Stock-in-Trade |
23.730 |
260.653 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
Stock-in-Trade |
(120.858) |
(139.672) |
127.786 |
|
|
|
Employees benefits expense |
140.626 |
135.198 |
63.151 |
|
|
|
Other expenses |
1481.151 |
816.027 |
282.430 |
|
|
|
TOTAL (B) |
5294.694 |
4386.477 |
2730.844 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
80.702 |
800.820 |
403.940 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
399.369 |
628.760 |
216.272 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(318.667) |
172.060 |
187.668 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
147.794 |
122.334 |
53.937 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(466.461) |
49.726 |
133.731 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(114.330) |
39.054 |
38.175 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(352.131) |
10.672 |
95.556 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(2.63) |
0.17 |
1.62 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
(6.69)
|
0.22 |
4.41 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
1.52
|
17.07 |
13.31 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(5.87) |
0.60 |
2.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.05) |
0.01 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.22 |
0.34 |
0.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22 |
1.03 |
1.18 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
590.960 |
1100.900 |
1100.900 |
|
Reserves & Surplus |
6789.226 |
8454.042 |
8100.500 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
349.999 |
|
Net
worth |
7380.186 |
9554.942 |
9551.399 |
|
|
|
|
|
|
long-term borrowings |
2631.563 |
2996.425 |
1899.787 |
|
Short term borrowings |
349.048 |
291.513 |
244.551 |
|
Total
borrowings |
2980.611 |
3287.938 |
2144.338 |
|
Debt/Equity
ratio |
0.404 |
0.344 |
0.225 |
%2022-Dec-2014_files/image004.gif)
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 |
3034.169 |
4688.778 |
5257.605 |
|
|
|
54.533 |
12.132 |
%2022-Dec-2014_files/image006.gif)
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 |
3034.169 |
4688.778 |
5257.605 |
|
Profit |
95.556 |
10.672 |
(352.131) |
|
|
3.15% |
0.23% |
(6.70%) |
%2022-Dec-2014_files/image008.gif)
LOCAL AGENCY FURTHER INFORMATION
Note: Current
maturity long term debt details are not available.
|
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 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10496320 |
05/05/2014 |
500,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
C04990008 |
|
2 |
10481939 |
20/02/2014 |
500,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B98252034 |
|
3 |
10412421 |
11/02/2013 |
550,000,000.00 |
Standard Chartered Bank |
Abhijeet II, Ground Floor,, Near Mithakali Six Roads,, Ahmedabad, Gujarat - 380006, INDIA |
B70993001 |
|
4 |
10397245 |
15/12/2012 |
1,050,000,000.00 |
ANDHRA BANK |
16B, 16TH FLOOR, EARNEST HOUSE, 194, NCPA MARG, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B65979957 |
|
5 |
10391122 |
26/11/2012 * |
2,250,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B65694978 |
|
6 |
10395487 |
12/11/2012 |
300,000,000.00 |
Punjab National Bank |
Ilaco House, Sir P M Road, Fort, Mumbai, Maharashtra - 400005, INDIA |
B65317042 |
|
7 |
10355314 |
20/04/2012 |
200,000,000.00 |
PUNJAB NATIONAL BANK |
ILACO HOUSE, SIR P M ROAD, MUMBAI, Maharashtra -400001, INDIA |
B39507462 |
|
8 |
10297842 |
25/08/2012 * |
2,250,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B60210085 |
|
9 |
10269499 |
17/09/2014 * |
600,000,000.00 |
Standard Chartered Bank |
Abhijeet II, Ground Floor,, Near Mithakali Six Roads,, Ahmedabad, Gujarat - 380006, INDIA |
C23515448 |
|
10 |
80011715 |
25/06/2013 * |
2,670,120,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE,, COLABA,, MUMBAI, Maharashtra - 400005, INDIA |
B80248529 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Non-Convertible Debentures Others |
0.000 |
700.00 |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand |
0.000 |
20.000 |
|
|
|
|
|
Total |
0.000 |
720.000 |
FIXED ASSETS
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixture
·
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. 63.06 |
|
|
1 |
Rs. 98.73 |
|
Euro |
1 |
Rs. 77.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUV |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--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.