MIRA
INFORM REPORT
|
Report Date : |
26.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
GEMINI POWER HYDRAULICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gemini House, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
23.05.1995 |
|
|
|
|
Com. Reg. No.: |
11-088698 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.10.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28900MH1995PTC088698 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG05113D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Authorized dealer of Hydraulic Equipments, Pneumatic Products, Spares and
Toolings, and Related Hardware. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 360000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. There are drastic dip in the profit of the company during 2013. The rating takes into consideration relatively small scale of
operations and elongated working capital cycle. However, trade relations are fair. Business is active. Payments are
reported to be 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.
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 |
CARE |
|
Rating |
Long term bank Facilities=BB |
|
Rating Explanation |
Have moderate risk of default. |
|
Date |
05.08.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities=A4 |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
05.08.2013 |
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 DENIED BY
|
Name : |
Ms. Ketaki |
|
Designation : |
Office Executive |
|
Contact No.: |
91-22-66819999 |
|
Date : |
24.02.2014 |
LOCATIONS
|
Registered / Head Office : |
Gemini House, |
|
Tel. No.: |
91-22-66819999 |
|
Fax No.: |
91-22-66819988 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Warehouse : |
4 CMPSC Complex, Kalamboli Warehousing Corporation, Navi
Mumbai-410218, Maharashtra, India |
|
Tel. No.: |
91-22-27422473 / 65163073 / 27422473 |
|
|
|
|
Overseas Office : |
Located at ·
Singapore ·
USA |
|
|
|
|
Regional Office 1 : |
A179, Andheria Mode, Mehrauli Gurgaon Road, Opposite Vasant Kunj Red
Light, New Delhi-110030, India |
|
Tel. No.: |
91-11-32319962 |
|
|
|
|
Regional Office 2 : |
25, Hoppman IInd Street, Alandur, St. Thomas Mount,
Chennai-600016, Tamilnadu, India |
|
Tel. No.: |
91-44-28554768 |
|
Fax No.: |
91-44-28553121 |
DIRECTORS
AS ON 10.09.2013
|
Name : |
Mr. Rajiv Kishorechand Sethi |
|
Designation : |
Chairman |
|
Address : |
904 A, Sabari Aashiyana, Deonar Farm Road, Mumbai- 400088,
Maharashtra, India. |
|
Date of Birth/Age : |
15.06.1962 |
|
Date of Appointment : |
23.05.1995 |
|
DIN : |
00028309 |
|
|
|
|
Name : |
Mrs. Sarika Rajiv Sethi |
|
Designation : |
Director |
|
Address : |
904 A, Sabari Aashiyana, Deonar Farm Road, Mumbai- 400088,
Maharashtra, India. |
|
Date of Birth/Age : |
07.01.1967 |
|
Date of Appointment : |
23.05.1995 |
|
DIN : |
00028349 |
|
|
|
|
Name : |
Mr. Kishorechand Dinanath Sethi |
|
Designation : |
Director |
|
Address : |
Plot No. 418, D K Sandu Marg, Chembur, Mumbai- 400071, |
|
Date of Birth/Age : |
05.06.1935 |
|
Date of Appointment : |
03.10.2000 |
|
DIN : |
00028374 |
|
|
|
|
Name : |
Mr. Charles Lawrence Miller III |
|
Designation : |
Additional Director |
|
Address : |
508, |
|
Date of Birth/Age : |
20.07.1959 |
|
Date of Appointment : |
03.09.2008 |
|
DIN : |
02316648 |
KEY EXECUTIVES
|
Name : |
Ms. Ketaki |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS
AS ON 10.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Rajiv Kishorechand Sethi |
999000 |
99.90 |
|
Sarika Rajiv Sethi |
1000 |
0.10 |
|
Total |
1000000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 10.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Authorized dealer of Hydraulic Equipments, Pneumatic Products, Spares
and Toolings, and Related Hardware. |
GENERAL INFORMATION
|
Customers : |
·
Abg Shipyard Limited ·
Adani ·
Ashok Layland ·
Bennett, Coleman and Company Limited ·
Essar Steel ·
Godrej Industries ·
Jindal Steel and Power Limited ·
Reliance Industries Limited ·
Reliance Infrastructure ·
Regen Powertech |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management. |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
Bank of Baroda, Chembur Branch, Mumbai- 400071, Maharashtra, India. |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
NOTES: Long Term
Borrowings: ·
Term loan from Bank is secured by hypothecation
of specific plant and machinery, stock, book debts and specific vehicles and
is additionally secured by: a)
An equitable mortgage on freehold
premises owned by Chairman of the company b)
An equitable mortgage on residential
property in the name of one of the directors of the company. c)
Personal guarantees of two directors
of the company. d)
Pledge of directors personal deposits
worth Rs.2.313 Millions (Previous year Rs.2.278 Millions) ·
Term loans from others are secured by
hypothecation of vehicles ·
Term loans from Banks are repayable
in monthly instalments over the next 24 months ·
Term loans from others are repayable
in monthly instalments over the next 36 months Short Term
Borrowings: ·
Loans repayable on demand from Banks
are secured by hypothecation of stock, book debts and plant and machinery The loan is further secured by extension of charge on the
following assets: (which are offered as security for repayment of Long Term) a)
An equitable mortgage on freehold
premises owned by Chairman of the company b)
An equitable mortgage on residential
property in the name of one of the directors of the company. c)
Personal guarantees of two directors
of the company. d)
Pledge of directors personal deposits
worth Rs.2.313 Millions (Previous year Rs.2.278 Millions) |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ramesh Lakshman and Company |
|
Address : |
58-B, Gurudev, R.C. Marg, Chembur Naka, Chembur, Mumbai- 400071,
Maharashtra, India. |
|
Tel. No.: |
91-22-25284588/ 25295949 |
|
Fax No.: |
91-22-25278301 |
|
E-Mail : |
|
|
Website : |
|
|
PAN : |
AACPL3714G |
|
|
|
|
Enterprises over which
Key Management personnel exercise significant influence : |
· Gemini Equipment and Rentals Private Limited · Gemini Foundation · Rainbow Intertrade Pte Limited, Singapore · Gemini Marketing Services · Gemini Consolidated Projects Private Limited · Metis Logistics Private Limited |
CAPITAL STRUCTURE
AS ON 10.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 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 |
10.000 |
10.000 |
10.000 |
|
(b) Reserves & Surplus |
79.721 |
74.761 |
59.468 |
|
(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) |
89.721 |
84.761 |
69.468 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3.671 |
4.299 |
0.491 |
|
(b) Deferred tax liabilities (Net) |
0.892 |
1.659 |
2.211 |
|
(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) |
4.563 |
5.958 |
2.702 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
51.140 |
41.854 |
37.892 |
|
(b) Trade payables |
57.414 |
62.284 |
87.170 |
|
(c) Other current
liabilities |
19.677 |
18.958 |
19.530 |
|
(d) Short-term provisions |
2.466 |
6.853 |
1.679 |
|
Total Current Liabilities (4) |
130.697 |
129.949 |
146.271 |
|
|
|
|
|
|
TOTAL |
224.981 |
220.668 |
218.441 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
46.762 |
44.162 |
14.695 |
|
(ii) Intangible Assets |
7.238 |
7.567 |
7.057 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.426 |
0.426 |
0.427 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8.183 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.017 |
0.000 |
|
Total Non-Current Assets |
62.609 |
52.172 |
22.179 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
49.888 |
55.520 |
99.482 |
|
(c) Trade receivables |
84.683 |
90.672 |
73.169 |
|
(d) Cash and cash
equivalents |
4.971 |
6.256 |
5.417 |
|
(e) Short-term loans and
advances |
22.830 |
16.048 |
18.194 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
162.372 |
168.496 |
196.262 |
|
|
|
|
|
|
TOTAL |
224.981 |
220.668 |
218.441 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
364.333 |
375.344 |
330.074 |
|
|
|
Other Income |
0.021 |
0.012 |
0.016 |
|
|
|
TOTAL (A) |
364.354 |
375.356 |
330.090 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of stock-in-trade |
199.898 |
200.369 |
263.855 |
|
|
|
Cost of Sales – Services |
33.151 |
27.775 |
20.039 |
|
|
|
Employee benefit expense |
49.915 |
39.564 |
45.325 |
|
|
|
Other expenses |
48.290 |
47.364 |
39.876 |
|
|
|
Changes in inventories |
5.555 |
20.982 |
(52.517) |
|
|
|
TOTAL (B) |
336.809 |
336.054 |
316.578 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
27.545 |
39.302 |
13.512 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.714 |
6.236 |
3.033 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
19.831 |
33.066 |
10.479 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
12.662 |
9.730 |
2.537 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD / EXTRAORDINARY
ITEMS |
1.180 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
5.989 |
23.336 |
7.942 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.030 |
8.043 |
2.395 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
4.959 |
15.293 |
5.547 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
69.392 |
54.099 |
49.128 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
0.000 |
|
|
|
Proposed Dividend |
0.000 |
0.000 |
0.500 |
|
|
|
Corporate Tax on Dividend |
0.000 |
0.000 |
0.076 |
|
|
BALANCE CARRIED
TO THE B/S |
74.351 |
69.392 |
54.099 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission |
9.383 |
19.438 |
4.703 |
|
|
|
Miscellaneous Income |
0.581 |
0.500 |
0.000 |
|
|
|
Site Service Income |
0.374 |
0.000 |
0.000 |
|
|
|
Dividend Received |
11.504 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
21.842 |
19.938 |
4.703 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Trading Purchases |
64.910 |
73.655 |
109.870 |
|
|
|
Blot tightening and loosing accessories |
0.000 |
0.000 |
0.260 |
|
|
|
Capital Items |
3.198 |
0.758 |
0.047 |
|
|
|
Spare Parts |
0.000 |
0.000 |
0.249 |
|
|
TOTAL IMPORTS |
68.108 |
74.413 |
110.426 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
4.96 |
15.29 |
5.55 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.36 |
4.07 |
1.68 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.64 |
6.22 |
2.41 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.67 |
10.60 |
3.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.28 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.61 |
0.54 |
0.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.24 |
1.30 |
1.34 |
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 |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
59.468 |
74.761 |
79.721 |
|
Net
worth |
69.468 |
84.761 |
89.721 |
|
|
|
|
|
|
long-term borrowings |
0.491 |
4.299 |
3.671 |
|
Short term borrowings |
37.892 |
41.854 |
51.140 |
|
Total
borrowings |
38.383 |
46.153 |
54.811 |
|
Debt/Equity
ratio |
0.553 |
0.545 |
0.611 |
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 |
330.074 |
375.344 |
364.333 |
|
|
|
13.715 |
(2.934) |
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
|
330.074 |
375.344 |
364.333 |
|
Profit |
5.547 |
15.293 |
4.959 |
|
|
1.68% |
4.07% |
1.36% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM DEBT:
(Rs.
In Millions)
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturity
of long term debt |
|
|
|
|
Term loan from banks |
3.748 |
3.850 |
1.897 |
|
Term Loan from Others |
0.330 |
0.158 |
0.000 |
|
|
|
|
|
|
Total |
4.078 |
4.008 |
1.897 |
|
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 |
Yes |
|
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OPERATIONS:
The
economic scenario in FY 2012-13 continued to be fraught with challenges. Major
economies witness slower growth and business environment remained difficult and
operating in such a testing environment remain challenging. Highlights of the
performance are as under:
·
Revenue from Operations decreased by 3%
to Rs.364.354 Millions
·
PBDIT is decreased by 33% to Rs.26.363
Millions
·
Profit before tax decreased by 74% to
Rs.5.989 Millions
·
Profit after tax decreased by 67% to
Rs.4.959 Millions
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Loan from Rajiv Sethi |
3.000 |
0.000 |
|
|
|
|
|
Total |
3.000 |
0.000 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10136776 |
01/11/2013
* |
14,656,000.00 |
BANK
OF BARODA |
CHEMBUR
BRANCH, CHEMBUR, MUMBAI - 400071, MAHARASHTRA, INDIA |
B90106857 |
|
2 |
90147428 |
19/06/2006
* |
2,500,000.00 |
BANK
OF BARODA |
CHEMBUR
BRANCH, CHEMBUR, MUMBAI - 400071, MAHARASHTRA, INDIA |
- |
|
3 |
80023421 |
01/11/2013
* |
110,000,000.00 |
BANK
OF BARODA |
CHEMBUR
BRANCH, CHEMBUR, MUMBAI - 400071, MAHARASHTRA, INDIA |
B90106311 |
|
4 |
90147216 |
13/06/2000
* |
4,200,000.00 |
BANK
OF BARODA |
CHEMBUR,
MUMBAI - 400071, MAHARASHTRA, INDIA |
- |
* Date of charge modification
CONTINGENT LIABILITIES:
Contingent
Liabilities not provided for in respect of
(Rs. in Millions)
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
|
Guarantees
/Counter guarantees given to banks for guarantees given by banks to other
companies |
11.397 |
10.068 |
|
Guarantees given
to bank for loans taken by Group company i.e. Gemini Consolidated Projects
Private Limited |
147.300 |
147.300 |
|
Claims against the
company not acknowledged as debts |
|
|
|
Income tax (see note (a)
below) |
0.701 |
1.002 |
|
Indirect tax (see note (b)
below) |
1.891 |
1.892 |
|
|
|
|
|
Total |
161.289 |
125.262 |
FIXED ASSETS:
v
Tangible
Assets
· Plant and Equipment
· Office Equipment
· Computers
· Vehicles
· Furniture and Fixtures
· Electrical Fittings
v
Intangible
Assets
· Goodwill
· Tenancy Rights
· Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No 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.61.98 |
|
|
1 |
Rs.103.31 |
|
Euro |
1 |
Rs.85.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
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 |
|
28 |
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.