MIRA INFORM REPORT
|
Report Date : |
25.02.2014 |
|
|
|
|
Tel. No.: |
+91 22 42769696 |
IDENTIFICATION DETAILS
|
Name : |
FLASH FORGE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
11, R.K. Industry House, Walbhot Road, Goregaon (East), Mumbai –
400063, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
05.07.1991 |
|
|
|
|
Com. Reg. No.: |
11-187895 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 72.026
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1991PTC187895 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF7428E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Forgings. |
|
|
|
|
No. of Employees
: |
350 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1400000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having a fine track record. Financial position of the company seems to be sound. Trade relations are reported to be fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered normal for business dealings at usual
trade terms and conditions.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 PARTED BY
|
Name : |
Mr. A V Prasad |
|
Designation : |
Vice President in Finance |
|
Contact No.: |
91-9397307310 |
|
Date : |
24.02.2014 |
LOCATIONS
|
Registered Office : |
11, R.K. Industry House, Walbhot Road, Goregaon (East), Mumbai –
400063, Maharashtra, India |
|
Tel. No.: |
91-22-42769656 |
|
Mobile No.: |
91-9397307310 (Mr. A V Prasad) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
4500 Sq. ft |
|
Location : |
Rented |
|
|
|
|
Head Office / Factory : |
Plot 237, D-Block, Autonagar Industrial Area, Visakhapatnam –
530012, Andhra Pradesh, India |
|
Tel. No.: |
91-891-3292232/ 2709373 |
|
Fax No.: |
91-891-2768281 |
|
E-Mail : |
|
|
Area : |
50000 Sq. ft |
|
Location : |
Rented |
|
|
|
|
Mumbai Office : |
72, Udyog Bhavan, Sonawala Road, Goregaon (East), Mumbai - 400063, Maharashtra, India |
|
Tel. No.: |
91-22-42769696/ 32447119 |
|
Fax No.: |
91-22-26850341 |
|
E-Mail : |
|
|
|
|
|
Overseas Offices : |
Located at: · Mexico · Colombia · Brazil |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Gautam Makkar |
|
Designation : |
Managing director |
|
Address : |
101, Jasti Square Apartments, Beach Road, Vishkhapatnam –
530023, Andhra Pradesh, India |
|
Date of Birth/Age : |
24.09.1969 |
|
Date of Appointment : |
01.10.1999 |
|
PAN No.: |
AGQPM2281D |
|
DIN No.: |
00354956 |
|
|
|
|
Name : |
Mr. Sunil Menon |
|
Designation : |
Whole-time director |
|
Address : |
Flat No. 1702, Odyssey 1, Hiranandani Gardens, Powai, Mumbai –
4000063, Maharashtra, India |
|
Date of Birth/Age : |
15.07.1967 |
|
Date of Appointment : |
01.04.1994 |
|
PAN No.: |
AERPM5344Q |
|
DIN No.: |
00409485 |
KEY EXECUTIVES
|
Name : |
Mr. A V Prasad |
|
Designation : |
Vice President in Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Gautam Makker |
|
1814300 |
|
Shalini Menon |
|
970190 |
|
Sunil Menon |
|
1024110 |
|
Navigating Sales Private Limited, India |
|
750000 |
|
Pushpak Advisory Private Limited, India |
|
1250000 |
|
Diplok Advisory Private Limited, India |
|
180000 |
|
Aay Aar Consultancy Services Private Limited, India |
|
500000 |
|
|
|
|
|
Total |
|
6488600 |
Equity Shareholders with Differential Voting Rights
|
Names of Shareholders |
|
No. of Shares |
|
Aay Aar Consultancy Services Private Limited, India |
|
100000 |
|
Lalima Tie-Up Private Limited, India |
|
100000 |
|
Navigating Sales Private Limited, India |
|
100000 |
|
Pushpak Advisory Private Limited, India |
|
200000 |
|
Pagaria Holding Private Limited, India |
|
214000 |
|
|
|
|
|
Total |
|
714000 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
47.13 |
|
Directors
or relatives of directors |
52.87 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Forgings. |
|
|
|
|
Exports : |
|
|
Products : |
Pipe Fittings and Pipe Components |
|
Countries : |
· USA |
|
|
|
|
Imports : |
|
|
Products : |
Pipes |
|
Countries : |
· USA · Japan · China |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash, Credit and COD |
GENERAL INFORMATION
|
Suppliers : |
Prakash Steel Limited, Mumbai |
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|
|||||||||||||||||||||||||||
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Customers : |
Wholesalers and Retailers · BHEL · ALSTOM · ESSAR · HPCL · IFFCO · Indian Navy · Indian Oil · MDL · Reliance Industries · TEIL · Thermax |
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No. of Employees : |
350 (Approximately) |
|||||||||||||||||||||||||||
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|
Bankers : |
· IDBI Bank Limited Siripuram Branch,
Visakhapatnam - 530003, Andhra Pradesh, India · IDBI Bank Limited IDBI Tower, WTC
Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India |
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
· Reliance Capital Limited "H" Block 1st Floor, Dhirubhai Ambani Knowledge City,
Koparkhairne, Navi Mumbai - 400710, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
V. Jagannadham And
Associates Chartered Accountants |
|
Address : |
52-8-12/2, 1st Floor, Niharika Enclave, Behind Satyam
Computers, Rasapuvanipalem, Vizag, Vishakhapatnam – 530013, Andhra
Pradesh, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAIPV3081C |
|
|
|
|
Associate : |
Airotech Profiles (India) Private Limited [CIN: U72200AP2007PTC052863] |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 80.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,202,600 |
Equity Shares |
Rs. 10/- each |
Rs. 72.026
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 |
72.026 |
72.026 |
59.800 |
|
(b) Reserves & Surplus |
284.433 |
206.115 |
164.582 |
|
(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) |
356.459 |
278.141 |
224.382 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
11.626 |
20.766 |
11.644 |
|
(b) Deferred tax liabilities (Net) |
18.416 |
14.000 |
10.343 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
30.042 |
34.766 |
21.987 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
199.018 |
141.039 |
141.419 |
|
(b)
Trade payables |
349.582 |
333.378 |
214.728 |
|
(c)
Other current liabilities |
282.540 |
92.173 |
70.944 |
|
(d)
Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
831.140 |
566.590 |
427.091 |
|
|
|
|
|
|
TOTAL |
1,217.641 |
879.497 |
673.460 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
268.104 |
203.333 |
132.181 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.698 |
0.000 |
23.969 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
19.622 |
3.925 |
0.500 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
288.424 |
207.258 |
156.650 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
219.500 |
152.543 |
115.909 |
|
(c)
Trade receivables |
262.845 |
425.959 |
311.242 |
|
(d)
Cash and cash equivalents |
207.408 |
80.164 |
55.538 |
|
(e)
Short-term loans and advances |
239.464 |
13.573 |
34.121 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
929.217 |
672.239 |
516.810 |
|
|
|
|
|
|
TOTAL |
1,217.641 |
879.497 |
673.460 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL
(A) |
1476.706 |
813.677 |
546.811 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL
(B) |
1279.127 |
686.308 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
197.579 |
127.369 |
(Including
Financial Expense) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
62.166 |
50.309 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
135.413 |
77.060 |
56.649 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.316 |
10.717 |
6.464 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F)
(G) |
122.097 |
66.343 |
50.185 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
43.779 |
24.810 |
18.537 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
78.318 |
41.533 |
31.648 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
USD 11498597 |
USD 2093579 |
0.000 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.87 |
5.77 |
NA
|
|
Expected Sales (2013-2014): Rs. 1500.000 Millions
The above information has been parted by Mr. A V Prasad (Vice President in
Finance)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.30
|
5.10 |
5.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.20
|
7.58 |
7.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.24 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.59
|
0.58 |
0.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12
|
1.19 |
1.21 |
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 |
59.800 |
72.026 |
72.026 |
|
Reserves & Surplus |
164.582 |
206.115 |
284.433 |
|
Net
worth |
224.382 |
278.141 |
356.459 |
|
|
|
|
|
|
long-term borrowings |
11.644 |
20.766 |
11.626 |
|
Short term borrowings |
141.419 |
141.039 |
199.018 |
|
Total
borrowings |
153.063 |
161.805 |
210.644 |
|
Debt/Equity
ratio |
0.682 |
0.582 |
0.591 |
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) |
|
TOTAL INCOME |
546.811 |
813.677 |
1476.706 |
|
|
|
48.804 |
81.486 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
in Millions) |
(Rs.
in Millions) |
(Rs.
in Millions) |
|
Total Income |
546.811 |
813.677 |
1476.706 |
|
Profit |
31.648 |
41.533 |
78.318 |
|
|
5.79% |
5.10% |
5.30% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
22.622 |
19.575 |
16.697 |
|
|
|
|
|
|
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 |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
10.361 |
17.715 |
|
|
|
|
|
Total |
10.361 |
17.715 |
CHANGE OF ADDRESS:
The Registered address of the company has been changed from IDA 237, D Block,
Auto Naggar, Visakhapatnam, Andhra Pradesh, India to the present address
w.e.f.09.10.2008.
REVIEW OF OPERATIONS:
During the year, the company has earned an income of Rs 1476.706 Millions as compared to Rs 813.677 Millions during the previous year and incurred operating expenditure of Rs 1279.127 Millions as compared to Rs 686.308 Millions during the previous year.
Company has earned Net Profit of Rs 78.318 Millions as compared to Rs 41.533 Millions during the previous year.
As per the plans conceived, during the year under review,
Turnover of the company increased by 82% (Approx.). The Company has been
identifying viable customers and also taken all the requisite steps for
effective operations and increasing the business of the company. Hence the
Company expects more business and profits in the years to come.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U99999MH1991PTC187895 |
|
Name of the
company |
FLASH FORGE
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
11, R.K. Industry House, Walbhot Road, Goregaon (East), Mumbai -
400063, Maharashtra, India Email: accounts@flashforge.co.in
|
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified
|
90263068 |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) Floating charge |
|
Particular of
charge holder |
· IDBI Bank Limited IDBI Tower, WTC
Complex, Cuffe Parade, Mumbai – 400005, Maharashtra, India CIN No.:
L65190MH2004GOI148838 Email: kanwadeb.das@idbi.co.in |
|
Nature of description
of the instrument creating or modifying the charge |
1. Hypothecation Agreement. 2. Omnibus
Counter Guarantee – 200.000 Millions 3. Omnibus
Counter Guarantee – 370.000 Millions |
|
Date of
instrument Creating the charge |
28.02.2013 |
|
Amount secured by
the charge |
Rs. 770.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest At Bank's Base
Rate plus 4% p.a. (Presently BBR is 10.25% p.a.) payable monthly. Terms of Repayment Working Capital
shall be repayable on Demand. Margin Cash Credit [CC]
- 25% on the Stocks and Book Debts less than 180 Days. Bank Guarantee
[BG] - 10% Cash Margin LC / BC - 10%
Cash Margin Extent and Operation of the charge It is a continuous
Charge until the repayment of entire dues to the Bank. Hypothecation by way
of exclusive charge on Fixed Assets of the Company including Plant and
Machinery, all movable machineries and current assets including Book Debts
and Receivables of the Company (both present and future) to the tune of
credit facilities extended to the Company by the bank together with interest
and other charges accrued thereon and other terms and conditions as mentioned
in the Deed of Hypothecation. |
|
Short particulars
of the property charged |
Hypothecation by
way of Exclusive charge on the current assets (including book debts) of the
company both present and future more particularly mentioned in the Schedule
of Deed of Hypothecation. Hypothecation by way
of Exclusive charge on the fixed assets of the company including plant and
machinery both present and future. |
|
Date of
Modification |
10.03.2012 |
|
Particulars of
the present modification |
Hypothecation by
way of Exclusive charge on the current assets (including book debts) and fixed assets (including plant and
machinery) of the company both present and future more particularly mentioned
in the Schedule of Deed of Hypothecation to secure over all working capital
facilities enhanced from Rs.530.000 Millions to Rs.770.000 Millions. Details
of individual limits are as per the sanction letter dated 18-02-2013. |
TRADE REFERENCES
· Prakash Steel Limited, Mumbai
· BHEL
FIXED ASSETS:
· Land
· 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 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. 103.38 |
|
Euro |
1 |
Rs. 85.32 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
51 |
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.