MIRA INFORM REPORT
|
Report Date : |
27.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
TOYO ENGINEERING INDIA LIMITED |
|
|
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|
Registered
Office : |
Toyo House, Lal Bahadur Shashtri Marg, Kanjur Marg (West), Mumbai –
400078, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
12.10.1981 |
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Com. Reg. No.: |
11-025413 |
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Capital
Investment / Paid-up Capital : |
Rs.1000.000
Millions |
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CIN No.: [Company Identification
No.] |
U28900MH1981PLC025413 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACT1772H |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The subject is engaged in Contracts/Assignments of Engineering, Procurement, and Construction on Lump-Sum Turnkey Basis (EPC-LSTK), Engineering, Procurement, Management and Construction Management (EPCM), Project Management Consultancy (PMC) and Engineering Services. |
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No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Exist |
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Comments : |
Subject is a subsidiary of ‘Toyo Engineering Corporation, Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. In view of strong parent, the company can be considered for business
dealings at usual trade terms and condition. |
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: “A” |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
24.10.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A1” |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
24.10.2014 |
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. Samir |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-25737000 |
|
Date : |
24.12.2014 |
LOCATIONS
|
Registered/ Head Office : |
Toyo House, Lal Bahadur Shashtri Marg, Kanjur Marg (West), Mumbai –
400078, Maharashtra, India |
|
Tel. No.: |
91-22-25737000/ 55967000/ 25737085/ 25737044 |
|
Fax No.: |
91-22-25737520/ 1/ 25737521 |
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E-Mail : |
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|
Website : |
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Location : |
Owned |
|
Locality : |
Commercial |
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Branch Office : |
214, Splendor Forum, Jasola District Centre, Near Apollo
Hospital, New Delhi - 110044, India |
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Tel. No.: |
91-11-40591240 |
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Fax No.: |
91-11-40591246 |
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Email : |
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Overseas Office : |
Post Box:36109, |
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Tel. No.: |
+971 267 16669 |
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Fax No.: |
+971 267 16648 |
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Email : |
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Toyo Technology Centre/ Satellite Project Office : |
71, Kanjur Marg Village Road, Kanjur Marg (East), Mumbai – 400042,
Maharashtra, India |
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Tel. No.: |
91-22-25735000 |
|
Fax No.: |
91-22-25735842 |
DIRECTORS
As on 27.08.2014
|
Name : |
Mr. Hisashi Kenichi Osone |
|
Designation : |
Managing Director |
|
Address : |
Flat No.181, Mont Blanc Co-Operative Housing Society Limited, Dady Seth Hill, Kemps Corner, Mumbai – 400036, Maharashtra, India |
|
Date of Birth/Age : |
04.01.1954 |
|
Qualification: |
Bachelor of Politics, Graduate from Faculty of Law |
|
Date of Appointment : |
27.01.2010 |
|
PAN No.: |
AAKPO6577A |
|
DIN No.: |
01354803 |
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|
|
|
Name : |
Mr. Rajendra Yeshwant Kulkarni |
|
Designation : |
Whole Time Director |
|
Address : |
A/503/A and B, 5th Floor, Brentwood Co-operative Housing Limited, Main Street Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra, India |
|
Date of Birth/Age : |
26.01.1954 |
|
Qualification: |
B Com, ACA, LLB |
|
Date of Appointment : |
17.12.2010 |
|
PAN No.: |
AAAPK9619D |
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DIN No.: |
02532373 |
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|
|
Name : |
Mr. Krishnarao Subramanyam Vupparapalli |
|
Designation : |
Whole Time Director |
|
Address : |
B/1002/A and B, 10th Floor, Birchwood Co-operative Housing Limited, Main Street Hiranandani Gardens, Powai, Mumbai – 400076, Maharashtra, India |
|
Date of Birth/Age : |
01.07.1949 |
|
Qualification: |
BE (Mech) |
|
Date of Appointment : |
17.12.2010 |
|
DIN No.: |
03368039 |
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|
|
|
Name : |
Mr. Yutaka Koukichi Kita |
|
Designation : |
Director |
|
Address : |
1-20-21-901, Chuoko Chuo KU, Chibra-Shi, Chibra Japan 2600024 |
|
Date of Birth/Age : |
06.07.1952 |
|
Qualification: |
Master of Engineering |
|
Date of Appointment : |
29.08.2012 |
|
DIN No.: |
05313469 |
|
|
|
|
Name : |
Mr. Shoji Koshikawa |
|
Designation : |
Director |
|
Address : |
2-9-14, Mizuhodai, Oamishirasato – Shi, Chiba, Japan 2993234 |
|
Date of Birth/Age : |
07.04.1957 |
|
Date of Appointment : |
10.09.2013 |
|
DIN No. : |
06575399 |
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|
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|
Name : |
Mr. Hiroshi Fujita |
|
Designation : |
Director |
|
Address : |
Konan, 4-6-2-2502, Minato-Ku, Tokyo 1080075 |
|
Date of Birth/Age : |
24.04.1959 |
|
Date of Appointment : |
10.09.2013 |
|
DIN No. : |
06585235 |
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|
|
|
Name : |
Mr. Yanagi Masayu Yanagi |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 181, Mont Blanc Co-operative Housing Society Limited, Dady Seth Hill, Kemps Corner, Mumbai-400036, Maharashtra, India |
|
Date of Birth/Age : |
06.07.1954 |
|
Date of Appointment : |
01.04.2014 |
|
DIN No.: |
06854569 |
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KEY EXECUTIVES
|
Name : |
Mr. Suhas Dinekar Patwardhan |
|
Designation : |
Secretary |
|
Address : |
Kaustubh, 780/3 Shivaji Nagar, Pune – 411004, |
|
Date of Birth/Age : |
06.01.1961 |
|
Date of Appointment : |
01.04.2011 |
|
PAN No.: |
ADDPP6747P |
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|
|
|
Name : |
Mr. Samir |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS
As on 27.08.2014
|
Names of Shareholders |
No. of Shares |
|
Toyo Engineering Corporation, |
98899996 |
|
Yanagi Masayu Yanagi |
600000 |
|
Rajendra Yeshwant Kulkarni |
500000 |
|
Tec Estate Limited (Nominee of Toyo Engineering Corporation, Japan) |
1 |
|
Tec Project Service Corporation (Nominee of Toyo Engineering
Corporation) |
1 |
|
Tec Air Service Corporation (Nominee of Toyo Engineering Corporation,
Japan) |
1 |
|
Tec Accounting and Consulting Limited (Nominee of Toyo Engineering
Corporation, Japan) |
1 |
|
Total |
100000000 |
As on 27.08.2014
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 |
98.90 |
|
Other top fifty shareholders |
1.10 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The subject is engaged in Contracts/Assignments of Engineering, Procurement, and Construction on Lump-Sum Turnkey Basis (EPC-LSTK), Engineering, Procurement, Management and Construction Management (EPCM), Project Management Consultancy (PMC) and Engineering Services. |
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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 : |
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 : |
Information declined by management |
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Bankers : |
· Axis Bank Limited, Trishul, 3rd Floor, Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad - 380006, Gujarat, India · Mizuho Corporate Bank Limited, Maker Chamber III, First Floor, Jamnalal Bajaj Road, Nariman Point, Mumbai – 400021, Maharashtra, India · Standard Chartered Bank, 90, M G Road, Fort, Mumbai – 400 001, Maharashtra, India · Ing Vysya Bank Limited, Narian Manzil,Ground Floor,Shop No. G1 To G5, I Floor,Shop No.1001 To 1007,Barakhamba Road,, New Delhi - 110001, India · The Sakara Bank Limited, 2-B, Mittal Court, Nariman Point, Mumbai-500021, Maharashtra, India · The Bank of Toyo-Mitsubishi UFJ Limited, Hoechst House, 15th Floor, 193, Vinay K. Shah Marg, Nariman Point, Mumbai-400021, Maharshtra, 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 Chartered Accountants |
|
Address : |
16th Floor, Zone D, The Ruby, Senapati Bapat Marg, Tulsi Pipe
Road, Dadar (West), Mumbai – 400 028, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
ABSFS4151K |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding Company: |
Toyo Engineering Corporation, Japan |
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Subsidiaries of
holding company: |
· Toyo Business Engineering Corporation, Japan · TEC Project Services Corporation · TEC Business Services Corporation · TEC Estate Corporation, Japan · TEC Air Service Corporation, Japan · TEC Accounting and Consulting Ltd, Japan · Chiba Data Centre Corporation, Japan · Toyo USA Inc, USA · Toyo Engineering Europe SA, Italy · Toyo Engineering Korea Limited, Korea · Toyo Engineering and Construction Sdn. Bhd, Malaysia · Toyo Engg. Corporation., China · TEC Engineering Corporation China (Procurement) · Toyo UK Limited, United Kingdom · TEC Netherland B.V.-Netherlands · Toyo Canada Corporation, Canada · Toyo do Brazil, Ltda-Brazil · O.O.O. TECHEM, Russia · Toyo Ingenieria De Venezuela, C.A. · Pt. Inti Karya Persada Tehnik |
|
|
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|
Other
related parties Where common control exits: |
· Toyo Engineering India Limited (Employees’ Benefit Trust) · Toyo Engineering India Limited (Provident Fund) |
CAPITAL STRUCTURE
As on 27.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 1000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 1000.000 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 |
1000.000 |
1000.000 |
100.000 |
|
(b) Reserves & Surplus |
2042.000 |
1857.000 |
995.639 |
|
(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) |
3042.000 |
2857.000 |
1095.639 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
99.000 |
196.000 |
292.817 |
|
(b) Deferred tax liabilities (Net) |
1115.000 |
724.000 |
0.000 |
|
(c) Other long term
liabilities |
279.000 |
275.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
1493.000 |
1195.000 |
292.817 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
697.000 |
1667.000 |
1860.230 |
|
(b) Trade
payables |
466.000 |
1188.000 |
2531.863 |
|
(c) Other
current liabilities |
2365.000 |
2284.000 |
2278.862 |
|
(d) Short-term
provisions |
96.000 |
180.000 |
331.383 |
|
Total Current
Liabilities (4) |
3624.000 |
5319.000 |
7002.338 |
|
|
|
|
|
|
TOTAL |
8159.000 |
9371.000 |
8390.794 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
532.000 |
648.000 |
737.425 |
|
(ii)
Intangible Assets |
43.000 |
42.000 |
40.726 |
|
(iii)
Capital work-in-progress |
2.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
141.000 |
142.000 |
126.153 |
|
(d) Long-term Loan and Advances |
662.000 |
759.000 |
96.314 |
|
(e) Other
Non-current assets |
5.000 |
6.000 |
0.735 |
|
Total Non-Current
Assets |
1385.000 |
1597.000 |
1001.353 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
3712.000 |
3422.000 |
2874.375 |
|
(d) Cash
and cash equivalents |
104.000 |
76.000 |
70.394 |
|
(e)
Short-term loans and advances |
946.000 |
929.000 |
1601.496 |
|
(f) Other
current assets |
2012.000 |
3347.000 |
2843.176 |
|
Total
Current Assets |
6774.000 |
7774.000 |
7389.441 |
|
|
|
|
|
|
TOTAL |
8159.000 |
9371.000 |
8390.794 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Sale |
8941.000 |
10035.000 |
9899.239 |
|
|
|
Other Income |
242.000 |
95.000 |
92.709 |
|
|
|
TOTAL |
9183.000 |
10130.000 |
9991.948 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
3522.000 |
4196.000 |
4520.883 |
|
|
|
Purchases of stock-in-trade |
1424.000 |
2243.000 |
2034.484 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(53.000) |
(1.000) |
(7.140) |
|
|
|
Employee benefit expense |
2442.000 |
2384.000 |
2155.131 |
|
|
|
Other expenses |
1219.000 |
1014.000 |
1028.405 |
|
|
|
TOTAL |
8554.000 |
9836.000 |
9731.763 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
629.000 |
294.000 |
260.185 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
293.000 |
347.000 |
361.435 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
336.000 |
(53.000) |
(101.250) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
150.000 |
180.000 |
181.455 |
|
|
|
|
|
|
|
|
|
Add |
PRIOR PERIOD
ITEMS BEFORE TAX |
0.000 |
0.000 |
(1.277) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
186.000 |
(233.000) |
(281.428) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.000 |
(16.000) |
(46.331) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
185.000 |
(217.000) |
(235.097) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(113.439) |
103.561 |
338.658 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
71.561 |
(113.439) |
103.561 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Consultancy Fees/ Turnkey project Income |
2702.000 |
1294.500 |
252.100 |
|
|
TOTAL EARNINGS |
2702.000 |
1294.51 |
252.100 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
489.000 |
902.610 |
308.950 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.85 |
(2.17) |
(23.51) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
2.07 |
(2.16) |
(2.37) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
7.04 |
2.93 |
2.63 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.32 |
(2.52) |
(3.41) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
(0.08) |
(0.26) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.26 |
0.65 |
1.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.87 |
1.46 |
1.06 |
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 |
100.000 |
1000.000 |
1000.000 |
|
Reserves & Surplus |
995.639 |
1857.000 |
2042.000 |
|
Net
worth |
1095.639 |
2857.000 |
3042.000 |
|
|
|
|
|
|
long-term borrowings |
292.817 |
196.000 |
99.000 |
|
Short term borrowings |
1860.230 |
1667.000 |
697.000 |
|
Total
borrowings |
2153.047 |
1863.000 |
796.000 |
|
Debt/Equity
ratio |
1.965 |
0.652 |
0.262 |
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 |
9899.239 |
10035.000 |
8941.000 |
|
|
|
1.371 |
(10.902) |
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 |
9899.239 |
10035.000 |
8941.000 |
|
Profit |
(235.097) |
(217.000) |
185.000 |
|
|
(2.37%) |
(2.16%) |
2.07% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF THE LONG TERM DEBT = 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 |
Yes |
|
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 |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Lodging No: ITXAL/1696/2012 Filing Date: 29/10/2012 Reg. No.: ITXA/513/2013 Reg. Date: 13/03/2013 |
|
Petitioner: THE COMMISSIONER OF INCOME TAX - 10
Respondent: M/S. TOYO ENGINEERING INDIA Petn. Adv : TEJVEER SINGH (0) LIMITED District: MUMBAI |
|
Bench: DIVISION Status: Admitted (Unready)
Category: TAX APPEAL Last Date: 08/02/2013
Stage: FOR DIRECTION Last Coram: HON’BLE SHRI JUSTICE J.P. DEVADHAR HON’BLE SHRI
JUSTICE M.S. SANKLECHA |
|
Act: Income Tax Act, 1961 UNDER SECTION: 260A |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10276209 |
08/03/2011 |
400,000,000.00 |
ING VYSYA BANK LIMITED |
MITTAL TOWERS,A-WING,GROUND FLOOR, 210 NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
B09192436 |
|
2 |
10211223 |
20/06/2012 * |
2,000,000,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD - 380006, GUJARAT, INDIA |
B42843862 |
|
3 |
10199202 |
25/01/2012 * |
500,000,000.00 |
THE BANK OF TOKYO-MITSUBISHI UFJ LIMITED |
HOECHST HOUSE, 15TH FLOOR, 193, VINAY K. SHAH MARG, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
B32640237 |
|
4 |
10033144 |
07/09/2011 * |
1,000,000,000.00 |
MIZUHO CORPORATE BANK LIMITED |
MAKER CHAMBER III, FIRST FLOOR, JAMNALAL BAJAJ ROAD, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
B20991782 |
|
5 |
10021549 |
11/04/2011 * |
3,870,000,000.00 |
STANDARD CHARTERED BANK |
90, M G ROAD, FORT, MUMBAI - 400001, MAHARASHTRA, INDIA |
B10680825 |
|
6 |
90241219 |
07/02/2013 * |
1,500,000,000.00 |
ING VYSYA BANK LIMITED |
NARIAN MANZIL,GROUND FLOOR,SHOP NO. G1 TO G5, I FLOOR, SHOP NO.1001 TO 1007, BARAKHAMBA ROAD, NEW DELHI - 110001, INDIA |
B69678829 |
* Date of charge modification
CORPORATE INFORMATION
Toyo India is a subsidiary of Toyo Engineering Corporation., Japan engaged in contracts/assignments of Engineering, Procurement, and Construction on Lump-sum Turnkey basis (EPC-LSTK), Engineering, Procurement, Management and Construction Management (EPCM), Project Management Consultancy (PMC) and Engineering Services.
OPERATIONS
The Company's operations during the year resulted in a turnover of Rs.8,941.000 millions (Previous year Rs. 10,035.000 millions) and profit before taxation amounted to Rs. 186.000 millions (Previous year Loss Rs. 233.000 millions).
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
Claims made by the Authorities in respect of Company's and Employees contribution under the Employees State Insurance Act, the Company has challenged the applicability of the said Act and consequently has rebutted the demands raised with effect from April 1st, 1980 |
Indeterminate |
Indeterminate |
|
Claims not acknowledged as debts |
203.000 |
4.000 |
|
VAT (under KVAT Act 2003) |
578.000 |
318.000 |
|
VAT(under GVAT Act 2003) |
9.000 |
9.000 |
|
Service Tax demand (under show cause notice) |
234.000 |
235.000 |
|
Total |
1024.000 |
566.000 |
FIXED ASSETS
v
Tangible
Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Leasehold Improvements
v
Intangible
Assets
· Goodwill
· 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 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. 63.63 |
|
|
1 |
Rs.98.97 |
|
Euro |
1 |
Rs.77.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
HET |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
ASH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
6 |
|
--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 |
|
50 |
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.