|
Report Date : |
14.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHRIRAM EQUIPMENT FINANCE COMPANY LIMITED |
|
|
|
|
Registered
Office : |
Mookambika Complex, 3rd Floor, No. 4, Lady Desika Road, Mylapore,
Chennai – 600004, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
15.12.2009 |
|
|
|
|
Com. Reg. No.: |
18-073914 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2600.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65910TN2009PLC073914 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject act as a non-banking financial company, provides finance
to contractors, sub-contractors, mine owners and operators, plant hirers and
others involved in the development of Indi’s infrastructure sector. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 16000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of India’s largest asset financing NBFC i.e.
“Shriram Transport Finance Company Limited”.
It is an established company having fine track record. The management has seen a better growth in its sales turnover as well
as net profitability during 2013. Financial and liquidity position seems to
be sound. Trade relations are fair. Business is active. Payment terms are
reported as regular and as per commitments. In view of experienced promoters and strong financial, technical and
managerial support from its parent company, the subject can be considered
good 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.
ECGC Country Risk Classification List – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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
India’s current account
deficit narrowed in the quarter ended September as government measures to curb
imports, especially gold, kicked in. The current account deficit, the
excess of a country’s imports of goods and services over exports, narrowed to $
5.2 billion from $ 21 billion in the year ago period, according to provisional
Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for
the year will be less than $ 60 billion or 3 per cent of GDP and the latest
data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third quarter,
according to a study by RSA. India ranks fourth in the list of nations hit by
phishing attacks. The US remained at the top of the charts. Phishing is the
process of acquiring information such as user names, passwords and credit card
details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Non-Convertible Debentures = AA+ |
|
Rating Explanation |
High degree of safety and low credit risk. |
|
Date |
05.09.2013 |
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.
LOCATIONS
|
Registered Office : |
Mookambika Complex, 3rd Floor, No. 4, Lady Desika Road, Mylapore,
Chennai – 600004, Tamilnadu, India |
|
Tel. No.: |
91-44-24990356 |
|
Fax No.: |
91-44-24993272 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
302-306, ShabriSamriddhi Building Sion - Trombay Road,
Chembur (East), Mumbai – 400071, Maharashtra, India |
|
Tel. No.: |
91-22-61146500 |
|
Fax No.: |
91-22-61146509 |
|
|
|
|
Branch Office : |
Located At · Andhra Pradesh · Bihar · Chattisgarh · Goa · Gujarat · Haryana · Himachal Pradesh · Jammu and Kashmir · Jharkhand · Karnataka · Kerala · Madhya Pradesh · Maharashtra · Orissa · Punjab · Rajasthan · Tamilnadu · Uttar Pradesh · Uttarkhand ·
West Bengal |
DIRECTORS
As on 05.07.2013
|
Name : |
Mr. Mayashanker Verma |
|
Designation : |
Director |
|
Address : |
A-55, Belvesere Park, DLF City, Phase III, Gurgaon – 122002, Haryana,
India |
|
Date of Birth/Age : |
05.11.1938 |
|
Date of Appointment : |
30.01.2011 |
|
DIN No.: |
00115431 |
|
|
|
|
Name : |
Mr. Ramachandran Sridhar |
|
Designation : |
Director |
|
Address : |
Shriram House, Bungalow No.33, Atur Park Co-Operative HSG Society, V N Purav Marg, Chembur Mumbai – 400071, Maharashtra, India |
|
Date of Birth/Age : |
17.06.1958 |
|
Date of Appointment : |
24.06.2011 |
|
DIN No.: |
00136697 |
|
|
|
|
Name : |
Mr. Gopalasamudram Srinivasaraghavan Sundararajan |
|
Designation : |
Director |
|
Address : |
A-2, Ashok Tejashri, New No.7, Old No.4, 4th Cross St. R.A.
Puram, Chennai – 600028, Tamilnadu, India |
|
Date of Birth/Age : |
29.05.1960 |
|
Date of Appointment : |
30.01.2011 |
|
DIN No.: |
00361030 |
|
|
|
|
Name : |
Mr. Amol Krishna Jain |
|
Designation : |
Director |
|
Address : |
Flat No.5, 5th Floor, Sterling Diamond Apartments, Mount Mary
Diamond CHS Limited, Bandra West, Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
16.12.1972 |
|
Date of Appointment : |
30.01.2011 |
|
DIN No.: |
00334710 |
|
|
|
|
Name : |
Mr. Pratap Ratnakar Paode |
|
Designation : |
Additional director |
|
Address : |
A 402, Hillside, Raheja Vihar, Chandivali Studio Road, Powai, Mumbai –
400072, Maharashtra, India |
|
Date of Birth/Age : |
18.11.1967 |
|
Date of Appointment : |
01.09.2013 |
|
DIN No.: |
06663341 |
KEY EXECUTIVES
|
Name : |
Mrs. Reema Prafulchandra Desai |
|
Designation : |
Secretary |
|
Address : |
1, B. K. Society, Shankar Lane, Kandivali (West), Mumbai – 400067,
Maharashtra, India |
|
Date of Birth/Age : |
21.01.1979 |
|
Date of Appointment : |
01.04.2012 |
|
PAN No. : |
AJMPD1952D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 05.07.2013
|
Names of Shareholders (Equity
Shares) |
|
No. of Shares |
|
Shriram Transport Finance Company Limited, India |
|
9999940 |
|
Raymond Gilbert Rebello |
|
10 |
|
Cunnavakkam Vinjikumar Thiruvenkatachari |
|
10 |
|
Reema Prafulchandra Desai |
|
10 |
|
Smita Udayprkash Shetty |
|
10 |
|
Anil Kumar Ramachandran |
|
10 |
|
Vikram Prasad |
|
10 |
|
Total |
|
10000000 |
|
Names of Shareholders (Preference
Shares) |
|
No. of Shares |
|
Shriram Transport Finance Company Limited, India |
|
25000000 |
|
Total |
|
25000000 |
As on 05.07.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject act as a non-banking financial company, provides
finance to contractors, sub-contractors, mine owners and operators, plant hirers
and others involved in the development of Indi’s infrastructure sector. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· ING Vysya Bank Limited, Mittal Towers, A-Wing, Ground Floor, 210 Nariman Point, Mumbai - 400021, Maharashtra, India · Syndicate Bank, Chembur Branch, 82-B, Pokar Mansion, N.G. Acharya Marg, Chembur, Mumbai - 400071, Maharashtra, India · Bank of India, Andheri Large Corporate Branch, M.D.I. Building, 1st floor, 28, S.V. Road, Andheri, Mumbai - 400058, Maharashtra, India · HDFC Bank Limited, 9th Floor, 115, Dr. Radhakrishnan Salai, Mylapore, Chennai - 600004, Tamilnadu, India ·
Australia and New Zealand Banking Group
Limited, Cnergy 6th Floor, Appasaheb Marathe Marg, Prabhadevi, Mumbai -
400025, Maharashtra, India ·
Citicorp Finance India Limited, Citigroup
Centre, 5th Floor, C-61, Block G, Bandra Kurla Complex, Bandra (E), Mumbai -
400051, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
S.V. Ghatalia and Associates LLP. Chartered Accountants |
|
Address : |
12th Floor, The Ruby, 29 Senapati Bapat Marg, Dadar (West), Mumbai –
400028, Maharashtra, India |
|
PAN No.: |
ACHFS9181P |
|
|
|
|
Holding Company : |
Shriram Transport Finance Company Limited CIN No.:
L65191TN1979PLC007874 |
|
|
|
|
Enterprises having
significant influence over the Company |
· Shriram Holdings (Madras) Private Limited (up to November 05, 2012) · Newbridge India Investments II Limited · Shriram Capital Limited · Shriram Ownership Trust · Shriram Financial Ventures (Chennai) Private Limited (from August 31, 2012) |
|
|
|
|
Fellow Subsidiary
Company |
Shriram Automall India Limited Shriram Insurance Broking Company Limited (SIBCL) (from January 01, 2013) |
CAPITAL STRUCTURE
As on 05.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000000 |
Equity Shares |
Rs.10/- each |
Rs.2500.000 Millions |
|
75000000 |
0.01% Compulsorily Convertible Preference Shares |
Rs.100/- each |
Rs.7500.000 Millions |
|
|
Total |
|
Rs.10000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
25000000 |
0.01% Compulsorily Convertible Preference Shares |
Rs.100/- each |
Rs.2500.000 Millions |
|
|
Total |
|
Rs.2600.000 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 |
2600.000 |
2600.000 |
1600.000 |
|
(b) Reserves & Surplus |
1420.243 |
527.213 |
11.276 |
|
(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) |
4020.243 |
3127.213 |
1611.276 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
9903.259 |
8806.325 |
2625.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
61.563 |
11.832 |
0.000 |
|
(d) long-term provisions |
232.740 |
67.529 |
11.931 |
|
Total Non-current Liabilities (3) |
10197.562 |
8885.686 |
2636.931 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
4566.894 |
4359.017 |
1116.786 |
|
(b) Trade payables |
1679.201 |
1220.622 |
1511.860 |
|
(c) Other current
liabilities |
10192.692 |
1752.306 |
798.964 |
|
(d) Short-term provisions |
57.941 |
40.037 |
25.328 |
|
Total Current Liabilities (4) |
16496.728 |
7371.982 |
3452.938 |
|
|
|
|
|
|
TOTAL |
30714.533 |
19384.881 |
7701.145 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
7.482 |
6.352 |
2.950 |
|
(ii) Intangible Assets |
2.623 |
5.782 |
9.530 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
26.998 |
16.261 |
5.198 |
|
(d) Long-term Loan and Advances |
17578.481 |
12045.297 |
4397.614 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
17615.584 |
12073.692 |
4415.292 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash and cash
equivalents |
156.003 |
84.907 |
1336.662 |
|
(e) Short-term loans and
advances |
12942.820 |
7226.280 |
1948.373 |
|
(f) Other current assets |
0.126 |
0.002 |
0.818 |
|
Total Current Assets |
13098.949 |
7311.189 |
3285.853 |
|
|
|
|
|
|
TOTAL |
30714.533 |
19384.881 |
7701.145 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4047.684 |
2101.010 |
201.648 |
|
|
|
Other Income |
2.620 |
0.128 |
0.002 |
|
|
|
TOTAL (A) |
4050.304 |
2101.138 |
201.650 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee benefit expenses |
268.637 |
172.177 |
60.351 |
|
|
|
Other expenses |
183.163 |
117.105 |
75.009 |
|
|
|
Provisions and write offs |
212.480 |
74.346 |
15.854 |
|
|
|
TOTAL (B) |
664.280 |
363.628 |
151.214 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3386.024 |
1737.510 |
50.436 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2057.508 |
962.570 |
22.709 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1328.516 |
774.940 |
27.727 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.147 |
4.936 |
2.839 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
1322.369 |
770.004 |
24.888 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
429.047 |
253.777 |
13.318 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
893.322 |
516.227 |
11.570 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
421.648 |
8.961 |
(0.119) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Statutory Reserve |
180.000 |
103.250 |
2.315 |
|
|
|
Dividend on Preference Shares |
0.250 |
0.250 |
0.150 |
|
|
|
Tax on Dividend |
0.042 |
0.041 |
0.025 |
|
|
|
Excess provision written back – Tax on Dividend |
0.000 |
0.001 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
1134.678 |
421.648 |
8.961 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
89.30 |
51.59 |
2.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
22.06
|
24.57 |
5.74 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
32.67
|
36.65 |
12.34 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.31
|
3.98 |
0.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.25 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.60
|
4.21 |
2.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.79
|
0.99 |
0.95 |
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 |
No |
|
10] |
Designation of contact person |
No |
|
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 |
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 |
Note:
The registered office of the company has been shifted from
123, Angappa Naicken Street, Chennai – 600001, Tamilnadu, India to present
address w.e.f. 16.08.2010
CORPORATE INFORMATION
Subject is a public company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The company is registered with the Reserve Bank of India as a non-deposit taking, non-banking financial company. The company is engaged in the construction equipment finance business.
OPERATIONS:
During the year, the Company’s income from operations was Rs. 4047.684 Millions as against Rs. 2101.010 Millions in the previous year 2011-12. The Company has earned Net Profit of Rs. 893.322 Millions as against Net Profit of Rs. 516.227 Millions for the previous year. The Profit before tax for the year is Rs.1322.369 Millions as against Rs.770.004 Millions in the previous year.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
|
Subordinated debts |
|
|
|
From banks |
700.000 |
200.000 |
|
From other than banks |
767.000 |
767.000 |
|
Loans & advances from Holding Company |
0.000 |
4072.211 |
|
Total |
1467.000 |
5039.211 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10469256 |
31/12/2013 |
500,000,000.00 |
ING VYSYA BANK LIMITED |
MITTAL TOWERS, A WING,, GROUND FLOOR, 210
NARIMAN POINT, MUMBAI, MAHARASHTRA -400021, INDIA |
B93164572 |
|
2 |
10467337 |
19/12/2013 |
1,000,000,000.00 |
SYNDICATE BANK |
CHEMBUR BRANCH, 82-B, POKAR MANSION, N.G.
ACHARYA MARG, CHEMBUR, MUMBAI, MAHARASHTRA -400071, INDIA |
B92438597 |
|
3 |
10453407 |
19/09/2013 |
1,500,000,000.00 |
BANK OF INDIA |
ANDHERI LARGE CORPORATE BRANCH, M.D.I.
BUILDING, 1ST FLOOR, 28, S.V. ROAD, ANDHERI, MUMBAI, MAHARASHTRA -
400058, INDIA |
B86815263 |
|
4 |
10451061 |
16/09/2013 |
1,000,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL SERVICES BRANCH, 4TH
FLOOR, 10/12, MUMBAI SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B85732832 |
|
5 |
10450428 |
07/09/2013 |
1,000,000,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
COMMERCIAL
NETWORK BRANCH, 239, P. D' MELLO ROAD, |
B85519650 |
|
6 |
10437994 |
14/12/2013 * |
916,666,667.00 |
PUNJAB AND SIND BANK |
LARGE CORPORATE
BRANCH, J.K. SOMANI BUILDING, BRITISH HOTEL LANE, FORT, MUMBAI, MAHARASHTRA -
400023, INDIA |
B93513661 |
|
7 |
10443166 |
24/06/2013 |
500,000,000.00 |
HDFC BANK
LIMITED |
9TH FLOOR, 115, DR.
RADHAKRISHNAN SALAI, MYLAPORE, CHENNAI, TAMILNADU - 600004, INDIA |
B82151978 |
|
8 |
10422648 |
16/04/2013 |
400,000,000.00 |
AUSTRALIA AND NEW ZEALAND BANKING GROUP
LIMITED |
CNERGY 6TH
FLOOR, APPASAHEB MARATHE MARG, PRABHADEVI, MUMBAI, MAHARASHTRA - 400025,
INDIA |
B74001603 |
|
9 |
10425106 |
26/03/2013 |
1,000,000,000.00 |
STATE BANK OF HYDERABAD |
INDUSTRIAL FINANCE BRANCH, NO.45, II LINE
BEACH, I FLOOR,, CHENNAI, TAMILNADU - 600001, INDIA |
B74928417 |
|
10 |
10442933 |
26/03/2013 |
1,000,000,000.00 |
ORIENTAL BANK OF COMMERCE |
JASH CHAMBERS, GROUND FLOOR, SIR P. M.
ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B76603109 |
|
11 |
10422310 |
26/03/2013 |
1,500,000,000.00 |
STATE BANK OF INDIA |
"THE ARCADE ", 2ND FLOOR, WORLD
TRADE CENTRE, CUFFE PARADE,, MUMBAI, MAHARASHTRA - 400005, INDIA |
B73906117 |
|
12 |
10421696 |
26/03/2013 |
2,500,000,000.00 |
SYNDICATE BANK |
LARGE CORPORATE
BRANCH, 3RD FLOOR, NO.10, HOMJI |
B73737736 |
|
13 |
10419439 |
22/03/2013 |
500,000,000.00 |
THE KARUR VYSYA BANK LIMITED |
CENTRAL LOAN, PROCESSING CELL,, KAMANWALA
CHAMBERS, SIR P M ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B73088353 |
|
14 |
10406947 |
19/02/2013 |
500,000,000.00 |
THE KARUR VYSYA BANK LIMITED |
CENTRAL LOAN, PROCESSING CELL,, KAMANWALA
CHAMBERS, SIR P M ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B69149896 |
|
15 |
10441469 |
20/12/2012 |
660,000,000.00 |
AUSTRALIA AND NEW ZEALAND BANKING GROUP
LIMITED |
CNERGY 6TH FLOOR, APPASAHEB MARATHE MARG,
PRABHADEVI, MUMBAI, MAHARASHTRA - 400025, INDIA |
B69918506 |
|
16 |
10383289 |
27/09/2012 |
500,000,000.00 |
VIJAYA BANK |
29, CLOVER APARTMENT,,
COLABA, MUMBAI, MAHARASHTR |
B60809027 |
|
17 |
10383282 |
27/09/2012 |
1,000,000,000.00 |
VIJAYA BANK |
29, CLOVER
APARTMENT, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
B60807450 |
|
18 |
10382372 |
25/09/2012 |
500,000,000.00 |
KARNATAKA BANK LIMITED |
HAROON HOUSE,
294 A, PERIN NARIMAN STREET, BEHIND RBI, FORT, MUMBAI, MAHARASHTRA - 400001,
INDIA |
B60411121 |
|
19 |
10382376 |
25/09/2012 |
500,000,000.00 |
KARNATAKA BANK LIMITED |
HAROON HOUSE, 294 A, PERIN NARIMAN STREET,
BEHIND RBI, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B60412319 |
|
20 |
10384247 |
05/09/2012 |
5,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDG., GROUND FLOOR, 17, R. KAMANI MARG,
BALLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA |
B61095022 |
* Date of charge modification
FIXED ASSETS
· Plant and Machinery
· Furniture and Fixtures
· Office Equipments
· Computers
As per Website
PRESS RELEASES
SHRIRAM EQUIPMENT
FINANCE PLANS TO RAISE RS 2000.000 MILLIONS
Chennai December
12, 2013
Shriram Equipment Finance Company (SEFC) is planning to raise about Rs 1500.000 – 2000.000 Millions from private equity (PE) investors and rope in strategic investors.
SEFC is a subsidiary of Shriram Transport Finance Corporation, which has an asset base of about Rs 560000.000 Millions. Umesh Revankar, managing director of Shriram Transport Finance, said the company expected to grow at a compounded annual rate of 15 per cent. "We may require Rs 1500.000 – 2000.000 Millions," he said, adding he would soon propose this to the company's board.
He said some funds had already approached the company, but declined to share the names of these funds.
Demand for equipment finance had picked up in the last two months, Revankar said, adding during this period, SEFC's assets under management increased 20 per cent, exceeding Rs 32000.000 Millions. "We have been looking to raise money from PEs and rope in strategic investors, but we delayed it due to market conditions in the construction industry. But as things are looking good, we would look at roping in investors," he said.
An investment banker said finding investors wouldn't be difficult for the five-year-old company. A total of 23 PE investors have invested about $750 million in various Shriram Group companies; the group has the highest PE participation in India. Major investors include Citi Group, ICICI Bank, Axis Bank, Frontline Strategy Group, Reliance Capital, Chrys Capitol, Blue Ridge Limited. Tiger Global Management, JM Finance, Merrill Lynch, Cambridge, Bessemer Venture Partners, ICICI Venture, Asia Bridge, TPG Texas pacific Group and Walton Street.
The fact that the construction sector is expected to see a turnaround may also draw investors to SEFC. An investment banker said as the sentiment in the sector revived, demand for construction equipment finance would also increase.
By 2020, the construction equipment sector's revenue is estimated to touch $22.7 billion, against $5.1 billion in 2011-12. Unit sales of construction equipment are expected to increase to 82,000 by 2016 from 61,745 in 2011-12, according to India Brand Equity Foundation report.
The banker quoted earlier said during the second quarter, SEFC's return on assets was 3.87 per cent, compared with 2.28 per cent a year ago; return on equity stood at 25.89 per cent, against 21.13 per cent a year ago. During the quarter ended September, the company's assets under management stood at Rs 3,211.2 crore, against Rs 23800.000 Millions in the year-ago period.
SEFC provides finance to contractors, sub-contractors, mine
owners and operators, plant hirers and others involved in infrastructure
development, including road contractors and irrigation contractors. Key companies
in this segment include BajajFinServ, L&T Finance and Srei Infrastructure
Equipment Finance Private Limited.
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.61.52 |
|
|
1 |
Rs.101.48 |
|
Euro |
1 |
Rs.84.11 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
63 |
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.