MIRA
INFORM REPORT
|
Report Date : |
14.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
STRUCTURAL WATER PROOFING COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
38/1, Block - GN, Sector – IV and V, Salt Lake City, Kolkata – 700091,
West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
21.03.1950 |
|
|
|
|
Com. Reg. No.: |
21-018695 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 35.565 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36992WB1950PTC018695 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCT0878M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of manufacturing and dealing in waterproofing chemicals and other construction chemicals. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 960000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a subsidiary of “Chryso S.A.S.” It is an established company
having moderate track. The latest financial statements of 2013 could not be made available
from the government department. As per available financials of 2012, the company has improved its
operating performance marked by better growth in its sales volume and net
profitability, as a result of which the management has been successful in
wiping off its accumulated losses. Further, the company possesses an average financial profile marked by
sufficient amount of reserves and very low external borrowings recorded in
the books. Trade relations are fair. Business is active. Payment terms are
reported as slow but correct. In view of unavailability of latest financial statements, the subject
can be considered for business dealings with some 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry retained
its status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
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
31-03-2012.
INFORMATION DENIED
|
Name : |
Mr. Dipanjan Sarkar) |
|
Designation : |
Director |
|
Contact No.: |
91-9163390714 |
|
Date : |
08.02.2014 |
LOCATIONS
|
Registered Office/ Corporate Office : |
38/1, Block - GN, Sector – IV and V, Salt Lake City, Kolkata – 700091,
West Bengal, India |
|
Tel. No.: |
91-33-40102700 |
|
Mobile No.: |
91-9163390714 (Mr. Dipanjan Sarkar) |
|
Fax No.: |
91-33-23573881 |
|
E-Mail : |
|
|
|
|
|
Mumbai Office : |
D-30/7 TTC Industrial Area, MIDC Turbhe, Navi Mumbai-400613,
Maharashtra, India |
|
Tel. No.: |
91-22-27685991 / 2 / 3 / 4 |
|
E-Mail : |
|
|
|
|
|
Factory: |
Located at: · Kolkata · Vapi · Noida ·
Ambattur |
DIRECTORS
As on: 27.09.2013
|
Name : |
Mr. Lubbertus Pieter Dijkema |
|
Designation : |
Director |
|
Address : |
263, BD, Jean Jaures, Boulogne Billan Court, France – 92100 |
|
Date of Birth/Age : |
22.05.1958 |
|
Date of Appointment : |
20.12.2006 |
|
DIN No.: |
01186155 |
|
|
|
|
Name : |
Mr. Fabienne Nathalie Lescure Conus |
|
Designation : |
Director |
|
Address : |
15, Rue Anatole France Chatou, France – 78400 |
|
Date of Birth/Age : |
17.03.1967 |
|
Date of Appointment : |
18.09.2008 |
|
DIN No.: |
02646715 |
|
|
|
|
Name : |
Mr. Thierry Pierre Bernard |
|
Designation : |
Director |
|
Address : |
55, Rue court Ambert, Paris, France – 75116 |
|
Date of Birth/Age : |
24.05.1968 |
|
Date of Appointment : |
23.01.2012 |
|
DIN No.: |
05180554 |
|
|
|
|
Name : |
Mr. Giles Austen Everitt |
|
Designation : |
Managing Director |
|
Address : |
1001/ 1002, 10th Floor, Capri Heights Co-operative Housing
Society Limited, St. Andrews Road, Pali Hills, Bandra (West), Mumbai –
400050, Maharashtra, India |
|
Date of Birth/Age : |
21.04.1969 |
|
Date of Appointment : |
01.08.2013 |
|
DIN No.: |
06644886 |
|
|
|
|
Name : |
Mr. Dipanjan Sarkar |
|
Designation : |
Director |
|
Address : |
F/11, Kajju Nagar Colony, Kolkata – 700032, West Bengal, India |
|
Date of Birth/Age : |
25.01.1972 |
|
Date of Appointment : |
01.08.2013 |
|
DIN No.: |
06629029 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 27.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Chryso S.A.S., France |
|
455534 |
|
Francois Nguyen |
|
25 |
|
|
|
|
|
Total |
|
455559 |
Equity Share Break up (Percentage of Total Equity)
As on: 27.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
99.99 |
|
Directors or relatives of directors |
|
0.01 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing and dealing in waterproofing chemicals and other construction chemicals. |
|
|
|
|
Brand Name: |
CHRYSO |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai - 400013, Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A RDa s and Associates Chartered Accountants |
|
Address : |
1,2 and 3, Woodburn Court, Woodburn Road, Kolkata-700020, West Bengal, India |
|
Tel. No.: |
91-33-22812976 |
|
Email. |
|
|
PAN No.: |
AADFA8553H |
|
|
|
|
Holding company: |
· Chryso, SAS |
|
|
|
|
Ultimate Holding
company: |
· Materis Corporate Services |
|
|
|
|
Subsidiary company: |
· SWC Engineering Services Private Limited |
|
|
|
|
Fellow
subsidiaries: |
· Chryso, INC. · Chryso South Africa · Chryso France · Parex Davco - Singapore · Parex Davco - Thailand · Parex Davco - Malayasia |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
355654 |
Equity Shares |
Rs.100/- each |
Rs. 35.565
Millions |
|
|
|
|
|
As on: 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
455559 |
Equity Shares |
Rs.100/- each |
Rs. 45.556
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
35.565 |
35.565 |
|
(b) Reserves & Surplus |
|
146.233 |
98.581 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
59.943 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
241.741 |
134.146 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
5.228 |
6.571 |
|
(d) long-term provisions |
|
4.842 |
4.927 |
|
Total
Non-current Liabilities (3) |
|
10.070 |
11.498 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
5.461 |
47.593 |
|
(b) Trade payables |
|
631.131 |
388.588 |
|
(c) Other current liabilities |
|
24.222 |
19.998 |
|
(d) Short-term provisions |
|
0.062 |
0.112 |
|
Total
Current Liabilities (4) |
|
660.876 |
456.291 |
|
|
|
|
|
|
TOTAL |
|
912.687 |
601.935 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
72.437 |
43.234 |
|
(ii) Intangible Assets |
|
0.515 |
0.781 |
|
(iii) Capital work-in-progress |
|
72.511 |
19.711 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
4.491 |
11.135 |
|
(d) Long-term Loan and Advances |
|
9.105 |
7.273 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
159.059 |
82.134 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
172.813 |
130.337 |
|
(c) Trade receivables |
|
397.303 |
317.777 |
|
(d) Cash and cash equivalents |
|
142.015 |
43.897 |
|
(e) Short-term loans and
advances |
|
40.341 |
27.612 |
|
(f) Other current assets |
|
1.156 |
0.178 |
|
Total
Current Assets |
|
753.628 |
519.801 |
|
|
|
|
|
|
TOTAL |
|
912.687 |
601.935 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
35.565 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
98.581 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
134.146 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
47.594 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
47.594 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
181.740 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
44.016 |
|
|
Capital work-in-progress |
|
|
19.711 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
11.135 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
130.337 |
|
|
Sundry Debtors |
|
|
317.777 |
|
|
Cash & Bank Balances |
|
|
43.897 |
|
|
Other Current Assets |
|
|
00.178 |
|
|
Loans & Advances |
|
|
40.996 |
|
Total
Current Assets |
|
|
533.185 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000 |
|
|
Other Current Liabilities |
|
|
415.157 |
|
|
Provisions |
|
|
11.150 |
|
Total
Current Liabilities |
|
|
426.307 |
|
|
Net Current Assets |
|
|
106.878 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
181.740 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SALES |
|
|
|
|
|
Income |
1104.154 |
847.739 |
645.893 |
|
|
Other Income |
6.379 |
4.450 |
12.769 |
|
|
TOTAL
(A) |
1110.533 |
852.189 |
658.662 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
|
|
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
|
|
|
|
Employees benefits expense |
|
|
|
|
|
Other expenses |
|
|
|
|
|
TOTAL
(B) |
1035.383 |
814.168 |
623.034 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
75.150 |
38.021 |
35.628 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.657 |
8.409 |
10.326 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
73.493 |
29.612 |
25.302 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
10.897 |
7.745 |
7.077 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
62.596 |
21.867 |
18.225 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
14.944 |
7.761 |
(13.196) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
47.652 |
14.106 |
31.421 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
(18.785) |
(32.891) |
(64.312) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
NA |
(18.785) |
(32.891) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
9.074 |
NA |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
104.60 |
30.97 |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.30 |
1.66 |
4.77 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.67 |
2.58 |
2.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.50 |
3.82 |
3.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.16 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.02 |
0.35 |
0.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15 |
1.13 |
1.26 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
35.565 |
35.565 |
35.565 |
|
Reserves & Surplus |
98.581 |
98.581 |
146.233 |
|
Net
worth |
134.146 |
134.146 |
181.798 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
47.594 |
47.593 |
5.461 |
|
Total
borrowings |
47.594 |
47.593 |
5.461 |
|
Debt/Equity
ratio |
0.355 |
0.355 |
0.030 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
645.893 |
847.739 |
1,104.154 |
|
|
|
31.251 |
30.247 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
645.893 |
847.739 |
1,104.154 |
|
Profit |
31.421 |
14.106 |
47.652 |
|
|
4.86% |
1.66% |
4.32% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
No |
|
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 |
OPERATIONS
The company achieved a 32.42% positive growth in terms of gross turnover; the gross turnover was Rs.1229.200 Millions in the financial year which was Rs. 928.200 Millions in the previous year.
A strategy to focus on marketing of core business of concrete admixtures, concrete aids and cement grinding aid backed by R and D and technical service. The company had achieved a net profit of Rs. 62.596 millions before tax.
To service the growth, the manufacturing facilities were significantly upgraded in Kolkata unit at Salt Lake,Vapi and Noida. The up gradation of facilities caused doubling of production with much better control over RM dispensing, large contribution to better HSE practices, less danger due to spillage, better housekeeping etc.
Safety and concern for the environment are the guiding principles for development of their manufacturing facilities. In all units across pan India the safety and environment measures are pursued in tune of the global standard of our parent organization.
Procurement and supply chain economies are an essential driver of profitability. The international procurement processes of CHRYSO were integrated in all zones to give a competitive lead in servicing Customers in India.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10105822 |
18/01/2011 * |
239,250,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B07479371 |
|
2 |
10105823 |
18/01/2011 * |
239,250,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B07479660 |
|
3 |
10068351 |
18/01/2011 * |
239,250,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B07478878 |
* Date of charge modification
FIXED ASSETS
· Land and Buildings
· Office building
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipment’s
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. 62.27 |
|
|
1 |
Rs. 103.47 |
|
Euro |
1 |
Rs. 84.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.