MIRA
INFORM REPORT
|
Report Date : |
19.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
TNR INFRA PROJECTS LIMITED (w.e.f. 18.02.2011) |
|
|
|
|
Formerly Known
As : |
T.N.R. INFRASTRUCTURES PRIVATE LIMITED |
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Registered
Office : |
H. No. 6-3-347 / 222, Flat No. 9, 4th Floor, Iswarya
Nilayam, Dwrakapuri Colony, Panjagutta, Hyderabad – 500082, Andhra Pradesh |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
18.04.2006 |
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Com. Reg. No.: |
01-049894 |
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Capital
Investment / Paid-up Capital : |
Rs.99.200 Millions |
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|
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CIN No.: [Company Identification
No.] |
U70102AP2006PLC049894 |
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|
|
|
PAN No.: [Permanent Account No.] |
AAEFT7690M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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Line of Business
: |
Subject is engaged into civil contracting and infrastructure
development activities. |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1473000 |
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|
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was initially incorporated as TNR Infrastructure Private
Limited and was later converted into a public limited company with the name
of TNR Infrastructures Limited in February 2011, subsequently the company
name was changed to TNR Infra Projects Limited in November 2012. It is an
established company having moderate track record. Management has failed to file the latest financial of 2013 with the
government department. As per available of 2012, the company witnesses a stretched liquidity
position resulting from high receivables given the inability of irrigation
departments in vidarbha region to release funds in timely manner and high
dependence on bank borrowings for funding of working capital needs. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. In view of established track in executing irrigation projects and
diversified project portfolio with recent foray into road projects, 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 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term loan BB |
|
Rating Explanation |
Moderate risk of default regarding timely
servicing of financial obligation. |
|
Date |
January 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
31-03-2012.
INFORMATION PARTED BY (PARTIAL DETAIL)
|
Name : |
Mr. Ramesh |
|
Designation : |
Account Manager |
|
Contact No.: |
91-40-23352152 / 162 |
|
Date : |
17.02.2014 |
LOCATIONS
|
Registered / Corporate Office : |
H. No. 6-3-347 / 222, Flat No. 9, 4th Floor, Iswarya
Nilayam, Dwrakapuri Colony, Panjagutta, Hyderabad – 500082, Andhra Pradesh |
|
Tel. No. : |
91-40-23352151 / 152 / 162 |
|
Fax No. : |
91-40-23352152 |
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E-Mail : |
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Website : |
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Branch 1 : |
B - 2, Bhavishyathi Apartment, Near VCA Ground, Civil Lane, Nagpur -
440001, Maharashtra, India |
|
Tel No. : |
91-712-2556723 |
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Fax No. : |
91-712-2556723 |
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|
|
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Branch 2 : |
Flat No. 602, Atlania Building, Chruch Avenue Road, Santacruz (West),
Mumbai – 400054, Maharashtra, India |
|
Tel No. : |
91-22-26059461 |
DIRECTORS
As on 30.08.2012
|
Name : |
Subba Rao Venkata Vuppalapati |
|
Designation : |
Director |
|
Address : |
Flat no. 101, Balaji Nivas 29, Maruthi Nagar, Moulaali, ECIL Posy,
Hyderabad – 500062, Andhra Pradesh, India |
|
Date of Birth/Age : |
14.08.1967 |
|
Date of Appointment : |
18.04.2007 |
|
DIN No. : |
00082540 |
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|
|
|
Name : |
Gangadhar Rao Thamminedi |
|
Designation : |
Managing Director |
|
Address : |
Flat No. A2, Land Mark Enclave, Happy Valley, 8-2-674 / B / 2 / 23,
Banjara Hills, Hyderabad – 500034, Andhra Pradesh, India |
|
Date of Birth/Age : |
31.12.1964 |
|
Date of Appointment : |
18.04.2006 |
|
PAN No. : |
ABYPT3726F |
|
DIN No. : |
00710849 |
|
|
|
|
Name : |
Challagulla Vijayasri |
|
Designation : |
Director |
|
Address : |
13-262, I.B. Area, Ward – 21, Mancherial, Adilabad – 504208, Andhra
Pradesh, India |
|
Date of Birth/Age : |
26.01.1971 |
|
Date of Appointment : |
02.11.2007 |
|
DIN No. : |
01818912 |
KEY EXECUTIVES
|
Name : |
Akula Nooka Raju |
|
Designation : |
Secretary |
|
Address : |
H. No. 3-4-726, Flat No. 201, Shanthiniketan Apartment, Bharkatpura,
Hyderabad – 500027, Andhra Pradesh, India |
|
Date of Birth/Age : |
16.06.1961 |
|
Date of Appointment : |
16.03.2011 |
|
PAN No.: |
AERPA8736L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.08.2012
|
Names of Shareholders |
No. of Shares |
|
Thaminedi Gangadhar Rao |
6802000 |
|
Thamminedi Krishna Kumari |
968000 |
|
V.V. Subba Rao |
80000 |
|
Ch. Vijaya Sri |
5200 |
|
T. Sagar |
151600 |
|
Ramakant Gaggar |
1600 |
|
Suresh Gaggar |
1600 |
|
Hem Chand lain |
150000 |
|
Garnet International Limited, India |
1435000 |
|
Gini Citicorp Realaty LLP |
200000 |
|
Rupesh Soni |
40000 |
|
Shailesh Soni |
40000 |
|
Pradeep Kurnar Saraogi |
10000 |
|
Raj Kumar Saraogi |
10000 |
|
Dinesh Kumar Bhora |
25000 |
|
|
|
|
Total |
9920000 |
As on 15.03.2013
|
Names of Allottee |
No. of Shares |
|
Vakrangee Capital Private Limited, India |
800000 |
|
|
|
As on 30.08.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
19.29 |
|
Directors or relatives of Directors |
80.71 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into civil contracting and infrastructure
development activities. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
·
State Bank of India SME Branch, Plot No.9 5,
Annamayya Circle, Tirupathi - 517502, Andhra Pradesh, India ·
Union Bank of India, 6-6-347/9/4, Dwarakapuri
Colony, Somajiguda, Hyderabad – 5000482, Andhra Pradesh, India |
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Facilities : |
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Banking
Relations : |
-- |
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|
Financial Institution : |
Srei Equipment Finance
Private Limited 'Vishwakarma', 86 C, Topsia Road, Kolkata - 700046, West
Bengal, India |
|
|
|
|
Auditors : |
|
|
Name : |
Deva and Associates Chartered Accountants |
|
Address : |
Plot No. 8, Street No. 1, Sagar Society, Banjara Hills, Hyderabad, Andhra Pradesh, India |
|
PAN
No. : |
APSPS8457G |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9920000 |
Equity Shares |
Rs.10/- each |
Rs.99.200 Millions |
|
|
|
|
|
After 30.08.2012
Authorised Capital : Rs.150.000
Millions
Issued, Subscribed & Paid-up Capital : Rs. 123.200
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 |
|
99.200 |
97.500 |
|
(b) Reserves & Surplus |
|
269.226 |
187.222 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
368.426 |
284.722 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
73.643 |
12.936 |
|
(b) Deferred tax liabilities (Net) |
|
1.983 |
1.781 |
|
(c) Other long term liabilities |
|
48.345 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
123.971 |
14.717 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
|
133.228 |
53.746 |
|
(b) Trade payables |
|
378.228 |
361.992 |
|
(c) Other current liabilities |
|
34.768 |
77.829 |
|
(d) Short-term provisions |
|
36.408 |
50.574 |
|
Total
Current Liabilities (4) |
|
582.632 |
544.141 |
|
|
|
|
|
|
TOTAL |
|
1,075.029 |
843.580 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
282.519 |
180.873 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
2.900 |
2.901 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
|
11.632 |
0.000 |
|
(e) Other Non-current assets |
|
0.390 |
0.520 |
|
Total
Non-Current Assets |
|
297.441 |
184.294 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
34.537 |
19.765 |
|
(c) Trade receivables |
|
502.613 |
380.762 |
|
(d) Cash and cash equivalents |
|
94.687 |
112.493 |
|
(e) Short-term loans and advances |
|
145.751 |
146.266 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
777.588 |
659.286 |
|
|
|
|
|
|
TOTAL |
|
1,075.029 |
843.580 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
40.000 |
|
|
2] Share Application Money |
|
|
13.824 |
|
|
3] Reserves & Surplus |
|
|
46.537 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
100.361 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
82.049 |
|
|
2] Unsecured Loans |
|
|
34.655 |
|
|
TOTAL BORROWING |
|
|
116.704 |
|
|
DEFERRED TAX LIABILITIES |
|
|
1.412 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
218.477 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
161.255 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
2.810 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
15.961 |
|
|
Sundry Debtors |
|
|
44.567 |
|
|
Cash & Bank Balances |
|
|
48.529 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
107.889 |
|
Total
Current Assets |
|
|
216.946 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
161.067 |
|
|
Other Current Liabilities |
|
|
0.709 |
|
|
Provisions |
|
|
0.765 |
|
Total
Current Liabilities |
|
|
162.541 |
|
|
Net Current Assets |
|
|
544.405 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.007 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
218.477 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1055.780 |
1030.145 |
620.037 |
|
|
|
Other Income |
3.684 |
2.934 |
3.511 |
|
|
|
TOTAL |
1059.464 |
1033.079 |
623.548 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
341.470 |
|
|
|
|
|
Purchases of Stock-in-Trade |
412.431 |
517.830 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
0.845 |
4.732 |
|
|
|
|
Employees benefits expense |
67.660 |
34.247 |
|
|
|
|
Other expenses |
62.235 |
66.664 |
|
|
|
|
TOTAL |
884.641 |
862.433 |
560.928 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
174.823 |
170.646 |
62.620 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
38.154 |
41.817 |
14.074 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
136.669 |
128.829 |
48.546 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
29.105 |
24.949 |
16.550 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
107.564 |
103.880 |
31.996 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
36.610 |
45.273 |
1.574 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
70.954 |
58.607 |
30.422 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
7.25 |
8.63 |
6.08 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
6.70
|
5.69 |
4.88 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.19
|
10.08 |
5.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.03
|
12.36 |
8.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.36 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.56
|
0.23 |
1.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33
|
2.31 |
0.40 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
97.500 |
99.200 |
|
Reserves & Surplus |
187.222 |
269.226 |
|
Net
worth |
284.722 |
368.426 |
|
|
|
|
|
long-term borrowings |
12.936 |
73.643 |
|
Short term borrowings |
53.746 |
133.228 |
|
Total
borrowings |
66.682 |
206.871 |
|
Debt/Equity
ratio |
0.234 |
0.561 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
1030.145 |
1055.780 |
|
|
|
2.488 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
1030.145 |
1055.780 |
|
Profit |
58.607 |
70.954 |
|
|
5.69% |
6.72% |
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 |
No |
|
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Term loan from others |
8.250 |
0.000 |
|
|
|
|
|
Total |
8.250 |
0.000 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10468012 |
30/11/2013 |
100,000,000.00 |
STATE BANK OF INDIA |
SME Branch, Plot No.95,Annamayya Circle,
TIRUPATHI - 517502, Andhra Pradesh, INDIA |
B92654813 |
|
2 |
10457165 |
22/09/2013 |
6,722,000.00 |
SREI EQUIPMENT FINANCE LIMITED |
'Vishwakarma', 86C, Topsia Road, Kolkata - 700046, West Bengal, India |
B88358627 |
|
3 |
10448840 |
16/08/2013 |
5,075,000.00 |
SREI Equipment Finance Private Limited |
'Vishwakarma', 86C, Topsia Road, Kolkata - 700046, West Bengal, India |
B84913581 |
|
4 |
10435865 |
22/06/2013 |
50,750,000.00 |
SREI Equipment Finance Private Limited |
'Vishwakarma', 86C, Topsia Road, Kolkata - 700046, West Bengal, India |
B79211314 |
|
5 |
10407664 |
22/02/2013 |
19,660,000.00 |
SREI Equipment Finance Private Limited |
'Vishwakarma', 86C, Topsia Road, Kolkata - 700046, West Bengal, India |
B69426476 |
|
6 |
10359520 |
05/05/2012 |
4,948,614.00 |
SREI Equipment Finance Private Limited |
'Vishwakarma', 86C, Topsia Road, Kolkata - 700046, West Bengal, India |
B41156159 |
|
7 |
10348625 |
01/04/2012 |
16,560,740.00 |
SREI Equipment Finance Private Limited |
'Vishwakarma', 86C, Topsia Road, Kolkata - 700046, West Bengal, India |
B37265618 |
|
8 |
10333936 |
02/01/2012 |
2,868,903.00 |
SREI Equipment Finance Private Limited |
'Vishwakarma', 86C, Topsia Road, Kolkata - 700046, West Bengal, India |
B31423122 |
|
9 |
10332677 |
15/12/2011 |
6,225,802.00 |
SREI Equipment Finance Private Limited |
'Vishwakarma', 86C, Topsia Road, Kolkata - 700046, West Bengal, India |
B30868061 |
|
10 |
10332690 |
15/12/2011 |
7,363,518.00 |
SREI Equipment Finance Private Limited |
'Vishwakarma', 86C, Topsia Road, Kolkata - 700046, West Bengal, India |
B30875868 |
|
11 |
10188332 |
30/03/2013 * |
444,600,000.00 |
UNION BANK OF INDIA |
6-3-347/9/4, Dwarakapuri Colony, Somajiguda, Hyderabad - 500082,
Andhra Pradesh, India |
B73738007 |
* Date of charge modification
FIXED ASSETS
Ř
Land
Ř
Buildings
Ř
Plant and Equipment
Ř
Furniture and Fixtures
Ř
Vehicles
Ř
Office Equipment
Ř
Computer Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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.62.12 |
|
|
1 |
Rs.103.93 |
|
Euro |
1 |
Rs.85.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.