MIRA
INFORM REPORT
|
Report Date : |
24.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
VAYHAN COFFEE LIMITED |
|
|
|
|
Registered
Office : |
H. No. 1-155, Sy. No. 108/A, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
22.12.2005 |
|
|
|
|
Com. Reg. No.: |
01-048531 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 283.830 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15492AP2005PLC048531 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCL1669G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Instant Coffee. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1300000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The ratings reflects moderate financial risk profile marked by
stretched liquidity position and low reserves of the company. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term fund based limits: “B-“ |
|
Rating Explanation |
Risk prone credit quality and high risk of
default. |
|
Date |
October 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
|
Name : |
Mr. Ratnakar |
|
Designation : |
HR Department |
|
Contact No.: |
91-8812-259991 |
LOCATIONS
|
Registered Office / Corporate Office : |
H. No. 1-155, Sy. No. 108/A, Kompally Main Road, Hyderabad
– 500014, Andhra Pradesh, India |
|
Tel. No.: |
91-40-27165330 / 27165328 / 5329 |
|
Fax No.: |
91-40-27141028 / 27165330 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
S.No.141, Garlamadugu Village, Pedavegi Mandal, West Godavari District-
534 450, Andhra Pradesh, India |
|
Tel. No.: |
91-8812-259991 to 8 |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
As on: 28.09.2013
|
Name : |
Mr. Datla Rama Raju |
|
Designation : |
Managing Director |
|
Address : |
8-115, Alwal, Secunderabad – 500010, Andhra Pradesh, India |
|
Date of Birth/Age : |
13.06.1962 |
|
Qualifications: |
Diploma in LCE |
|
Date of Appointment : |
22.12.2005 |
|
PAN No.: |
AFYPD1592H |
|
DIN No.: |
00280156 |
|
|
|
|
Name : |
Mr. Kanumuri Venkata Krishnam Raju |
|
Designation : |
Whole-Time Director |
|
Address : |
63-3-596/9, Venkata Ramana Colony, Khairatabad, Hyderabad – 500004,
Andhra Pradesh, India |
|
Date of Birth/Age : |
25.07.1963 |
|
Qualifications: |
Chartered Accountant |
|
Date of Appointment : |
24.11.2011 |
|
PAN No.: |
ADOPK8293Q |
|
DIN No.: |
00280217 |
|
|
|
|
Name : |
Mr. Gopal Kandadai |
|
Designation : |
Director |
|
Address : |
801/a, Ambience Avenue, SRI Nagar Colony, Hyderabad – 500073, Andhra
Pradesh, India |
|
Date of Birth/Age : |
22.07.1944 |
|
Qualifications: |
CA,LLB |
|
Date of Appointment : |
30.06.2011 |
|
DIN No.: |
00306607 |
|
|
|
|
Name : |
Mr. Rama Surya Paramananda Raju Datla |
|
Designation : |
Director |
|
Address : |
8-115, Alwal, Secunderabad – 500010, Andhra Pradesh, India |
|
Date of Birth/Age : |
06.08.1957 |
|
Qualifications: |
B.com |
|
Date of Appointment : |
22.12.2005 |
|
PAN No.: |
ACLPD7218C |
|
DIN No.: |
00306612 |
|
|
|
|
Name : |
Mr. Venkata Suryanarayana Raju Gadhiraju |
|
Designation : |
Director |
|
Address : |
D-37, Madhura Nagar, Hyderabad – 500038, Andhra Pradesh, India |
|
Date of Birth/Age : |
04.12.1964 |
|
Qualifications: |
B.com |
|
Date of Appointment : |
30.03.2012 |
|
DIN No.: |
00306615 |
|
|
|
|
Name : |
Mr. Jayaram Sharma Achanta |
|
Designation : |
Director |
|
Address : |
14-40/3A, Srinivasapuram, Ramanthapur, Hyderabad – 500003, Andhra
Pradesh, India |
|
Date of Birth/Age : |
07.07.1949 |
|
Qualifications: |
FCS |
|
Date of Appointment : |
29.07.2010 |
|
DIN No.: |
01057102 |
|
|
|
|
Name : |
Mr. Sundararamaraju Penumatsa |
|
Designation : |
Whole-Time Director |
|
Address : |
Av, Subba Raju LIG, 438 KPHB Colony, Ranga Reddy, Hyderabad – 500072,
Andhra Pradesh, India |
|
Date of Birth/Age : |
25.07.1973 |
|
Qualifications: |
B.com |
|
Date of Appointment : |
24.11.2011 |
|
DIN No.: |
01507050 |
|
|
|
|
Name : |
Mr. Sreenivasa Rao Ravinuthala |
|
Designation : |
Director |
|
Address : |
32-126/3, Bank Colony, Ramakrishnapuram, Secunderabad – 500056, Andhra
Pradesh, India |
|
Date of Birth/Age : |
07.11.1955 |
|
Qualifications: |
FCMA |
|
Date of Appointment : |
29.07.2010 |
|
DIN No.: |
03271625 |
|
|
|
|
Name : |
Mr. Undavalli Paparao |
|
Designation : |
Director |
|
Address : |
340, Carr Manor Court, Ballwin, USA, Missouri 63021 |
|
Date of Birth/Age : |
10.05.1968 |
|
Qualifications: |
Engineer |
|
Date of Appointment : |
18.05.2012 |
|
DIN No.: |
05263236 |
|
|
|
|
Name : |
Mr. Undavalli Ramu |
|
Designation : |
Alternate Director |
|
Address : |
D No.3-148 (U and M), Nest Godavari, District Pedavegi, Andhra
Pradesh, India |
|
Date of Birth/Age : |
13.04.1972 |
|
Date of Appointment : |
18.05.2012 |
|
DIN No.: |
05263249 |
KEY EXECUTIVES
|
Name : |
Mr. Ratnakar |
|
Designation : |
HR Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 28.09.2013
DETAILS OF SHAREHOLDING FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 28.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
5.98 |
|
Directors or relatives of directors |
|
67.98 |
|
Other top fifty shareholders |
|
18.39 |
|
Other |
|
7.65 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Instant Coffee. |
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Products : |
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Exports : |
|
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|
Products : |
·
Coffee |
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|
Countries : |
·
Russian Country |
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|
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Imports : |
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|
Products : |
·
Raw material |
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|
Countries : |
·
Indonesia |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
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|
Bankers : |
State Bank of India Mid Corporate Loan Administration Unit (MCLAU), 3/6/281/A/1, 1st Floor, Hyderguda Main Road, SBI Old MLA Quarter's Branch Building, Hyderabad - 500029, Andhra Pradesh, India |
||||||||||||||||||||||||
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|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
GMK Associates Chartered Accountants |
|
Address : |
607, Raghava Ratna Towers, Chirag Ali Lane, Abids, Hyderabad-500001, Andhra Pradesh, India |
|
PAN No.: |
AACFG7582R |
|
|
|
|
Subsidiary Company: |
· Vayhan Instant Foods Private Limited |
|
|
|
|
Associates : |
·
Kanhan Packages (Private) Limited, India CIN No.:
U21022AP1990PTC011964 ·
Future Enterprises Pte Limited, Singapore (upto
14.11.2011) |
|
|
|
|
Related Parties : |
·
Vayhan Air Controls (Private) Limited CIN No.:
U29191AP2003PTC041991 ·
Gosthani Hitech Cartons (Private) Limited CIN No.:
U21029AP1999PTC031657 ·
Deccan Polypacks Limited CIN No.:
L24134AP1984PLC005215 |
CAPITAL STRUCTURE
As on: 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29000000 |
Equity Shares |
Rs.10/- each |
Rs. 290.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28383000 |
Equity Shares |
Rs.10/- each |
Rs. 283.830
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
283.830 |
283.830 |
283.830 |
|
(b) Reserves & Surplus |
44.713 |
10.284 |
(26.412) |
|
(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) |
328.543 |
294.114 |
257.418 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
135.464 |
241.769 |
340.883 |
|
(b) Deferred tax liabilities
(Net) |
27.510 |
6.146 |
0.000 |
|
(c) Other long term
liabilities |
22.710 |
10.751 |
14.615 |
|
(d) long-term provisions |
0.316 |
0.780 |
0.539 |
|
Total
Non-current Liabilities (3) |
186.000 |
259.446 |
356.037 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
258.526 |
221.841 |
203.436 |
|
(b) Trade payables |
113.105 |
70.585 |
48.190 |
|
(c) Other current liabilities |
117.701 |
135.453 |
149.613 |
|
(d) Short-term provisions |
10.841 |
15.549 |
10.726 |
|
Total
Current Liabilities (4) |
500.173 |
443.428 |
411.965 |
|
|
|
|
|
|
TOTAL |
1,014.716 |
996.988 |
1,025.420 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
518.417 |
558.492 |
614.017 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
15.826 |
14.839 |
14.839 |
|
(iv) Intangible assets under
development |
2.491 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.365 |
0.255 |
0.244 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
20.279 |
|
(d) Long-term Loan and Advances |
18.985 |
10.000 |
11.028 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
556.084 |
583.586 |
660.407 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
321.823 |
266.851 |
225.191 |
|
(c) Trade receivables |
101.730 |
117.601 |
99.416 |
|
(d) Cash and cash equivalents |
10.504 |
10.491 |
10.609 |
|
(e) Short-term loans and
advances |
22.743 |
16.528 |
14.682 |
|
(f) Other current assets |
1.832 |
1.931 |
15.115 |
|
Total
Current Assets |
458.632 |
413.402 |
365.013 |
|
|
|
|
|
|
TOTAL |
1,014.716 |
996.988 |
1,025.420 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
1,517.849 |
994.434 |
778.939 |
|
|
Other Income |
28.328 |
6.427 |
7.082 |
|
|
TOTAL
(A) |
1,546.177 |
1,000.861 |
786.021 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1,095.537 |
660.318 |
538.645 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(21.321) |
(36.231) |
(14.070) |
|
|
Employees benefits expense |
24.640 |
19.146 |
5.093 |
|
|
Other expenses |
235.532 |
135.422 |
162.219 |
|
|
TOTAL
(B) |
1,334.388 |
778.655 |
691.887 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
211.789 |
222.206 |
94.134 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
76.948 |
81.508 |
78.149 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
134.841 |
140.698 |
15.985 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
65.093 |
63.528 |
62.432 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
69.748 |
77.170 |
(46.447) |
|
|
|
|
|
|
|
Less |
TAX
(H) |
35.319 |
42.974 |
(15.291) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
34.429 |
34.196 |
(31.156) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
1,438.379 |
874.911 |
749.125 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
1.21 |
1.20 |
(1.33) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.23 |
3.41 |
(3.96) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.60 |
7.76 |
(5.96) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.00 |
7.86 |
(4.69) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.26 |
(0.18) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.20 |
1.58 |
0.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.91 |
0.93 |
0.89 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
283.830 |
283.830 |
283.830 |
|
Reserves & Surplus |
(26.412) |
10.284 |
44.713 |
|
Net
worth |
257.418 |
294.114 |
328.543 |
|
|
|
|
|
|
long-term borrowings |
340.883 |
241.769 |
135.464 |
|
Short term borrowings |
203.436 |
221.841 |
258.526 |
|
Total
borrowings |
544.319 |
463.610 |
393.990 |
|
Debt/Equity
ratio |
2.115 |
1.576 |
1.199 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
778.939 |
994.434 |
1,517.849 |
|
|
|
27.665 |
52.634 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
778.939 |
994.434 |
1,517.849 |
|
Profit |
(31.156) |
34.196 |
34.429 |
|
|
-4.00% |
3.44% |
4.00% |
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 |
Yes |
|
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) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
Fully convertible debentures others |
22.500 |
30.000 |
|
Intercorporate borrowings |
4.000 |
7.055 |
|
Deposits |
30.000 |
0.000 |
|
Loans and advances from related parties |
0.365 |
4.365 |
|
|
|
|
|
Total |
56.865 |
41.420 |
REVIEW OF OPERATIONS
The company has exported Instant Coffee to more than 20 countries. The Company’s operations resulted in total revenue of Rs. 1546.200 millions, (Previous Year 1000.800 millions) which is an increase of about 54% from the previous year. The Profit before tax during the year is Rs. 69.700 millions (Previous Year Rs. 77.200 millions). After adjusting for the current year MAT, the profit for the current year stands at Rs. 55.800 millions (Previous Year Rs. 60.700 millions). During the year, there are several interruptions and shortage in the electricity supply and due to this, the company heavily depended on alternative sources of supply and thus spending Rs. 27.300 millions comparatively more than the previous year. Further, the company has written off an amount of Rs. 20.800 millions, towards bad debts. Thus the current year’s profitability has been adversely affected to the extent of these extraordinary items.
FUTURE OUTLOOK
The demand for instant coffee is growing steadily in almost all the markets and the company is trying to add new customers and new markets. The company is targeting a growth to the extent of 5% in terms of volume and value during the next financial year 2013-14 in view of almost peak capacity operations during the financial year 2012-13.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10205386 |
09/07/2009 |
6,000,000.00 |
STATE BANK OF INDIA MID CORPORATE LOAN ADMINISTRAT |
3/6/281/A/1, 1ST FLOOR, HYDERGUDA MAIN ROAD, SBI OLD MLA QUARTER'S BRANCH BUILDING, HYDERABAD, ANDHRA PRADESH - 500029, INDIA |
A72235534 |
|
2 |
10143152 |
02/01/2014 * |
360,000,000.00 |
|
MID CORPORATE GROUP, OVERSEAS BRANCH, 2ND AND 3RD FLR, RAJALA CENTRE, PT NO.241/A, ROAD NO. 36, JUBILEE HILLS, HYDERABAD, ANDHRA PRADESH - 500033, INDIA |
B95049706 |
|
3 |
10057927 |
29/03/2012 * |
510,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, 241/A,RAJALA CENTRE, ROAD NO.36, JUBILEE HILLS, HYDERABAD, ANDHRA PRADESH - 500033, INDIA |
B36736817 |
* Date of charge modification
FIXED ASSETS:
· Land and Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· 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 exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No 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. 62.16 |
|
|
1 |
Rs. 103.44 |
|
Euro |
1 |
Rs. 85.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
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 |
|
27 |
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.