MIRA
INFORM REPORT
|
Report Date : |
18.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAURASHTRA FUELS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C- 93, 9th Floor Mittal Tower, Nariman Point, Mumbai – 400021, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
06.12.1993 |
|
|
|
|
Com. Reg. No.: |
11-075455 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.49.501 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23200MH1993PTC075455 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS18257B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS7271G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Low Ash Metallurgical Coke (LAM Coke). |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1196000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There appears continuous dip in its turnover of the company and also
company is incurring a losses from its operation. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
ICRA |
|
Rating |
B- (Term Loans) |
|
Rating Explanation |
Have high risk of default. |
|
Date |
September 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
A4 (Non Fund Based Limits) |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
September 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 : |
C- 93, 9th Floor Mittal Tower, Nariman Point, Mumbai – 400021, Maharashtra,
India |
|
Tel. No.: |
91-22-66550621 / 40467500 |
|
Fax No.: |
91-22-66550623 |
|
E-Mail : |
|
|
Website: |
|
|
Location: |
Owned |
|
|
|
|
Porbandar Office : |
4th Floor, Shree Chambers, Opposite M.E.M. School, Near Kamla Nehru
Baug, Porbander-360575, |
|
Tel. No.: |
91-286-2243586 |
|
Fax No.: |
91-286-2240908 |
|
|
|
|
Ahmedabad Office : |
202, Sarthik – II, Opposite Rajpath Club, |
|
Tel. No.: |
91-79-40227500 |
|
Fax No.: |
91-79-40034142 |
|
E-Mail : |
|
|
|
|
|
Mundra Office : |
Maha Shakti Coke, 2nd Floor, Saurashtra CFS, |
|
Tel. No.: |
91-2838-222525 |
|
Fax No.: |
91-2838-224141 |
|
|
|
|
Factory 1 : |
Village Lakhapur and Baraya, Mundra, Kutch – 370421, |
|
|
|
|
Factory 2 : |
Village Bhod, Ranavav, Porbandar – 360575, |
DIRECTORS
As on: 19.08.2013
|
Name : |
Mr. Dipak Agarwalla |
|
Designation : |
Director |
|
Address : |
13/14, 13th
Floor, Buckley Court, Wodehouse Road, Colaba, Mumbai- 400005, Maharashtra,
India |
|
Date of Appointment : |
06.12.1993 |
|
PAN No.: |
ADDPA3497R |
|
DIN No.: |
00267085 |
|
|
|
|
Name : |
Mr. Kunda Singh |
|
Designation : |
Director |
|
Date of Appointment : |
01.07.1995 |
|
PAN No.: |
AAAPK0712C |
|
DIN No.: |
00971459 |
|
|
|
|
Name : |
Mr. Raghav Dipak Agarwalla |
|
Designation : |
Director |
|
Date of Appointment : |
01.11.2010 |
|
PAN No.: |
AHBPA8174F |
|
DIN No.: |
01085318 |
|
|
|
|
Name : |
Mr. Surendra Kumar Sinha |
|
Designation : |
Director |
|
Address : |
Brahma House,
Dhirendra Puram, Dhaiya, P. O. - ISM, Dhanbad, Jharkhand – 826004, India |
|
Date of Appointment : |
06.12.2003 |
|
PAN No.: |
AHFPS8855D |
|
DIN No.: |
01511505 |
|
|
|
|
Name : |
Mr. Navin Kumar Sinha |
|
Designation : |
Director |
|
Address : |
Brahma House, Dhirendra Puram, Dhaiya, P.O – ISM, Dhanbad,
Jharkhand-826004, India |
|
Date of Birth/Age : |
22.05.1979 |
|
Date of Appointment : |
22.12.2010 |
|
PAN No.: |
AIEPS3226L |
|
DIN No.: |
01593775 |
|
|
|
|
Name : |
Mr. Rajesh Manharlal Desai |
|
Designation : |
Director |
|
Date of Appointment : |
15.09.2008 |
|
DIN No.: |
01719358 |
|
|
|
|
Name : |
Mr. Hariharan Viswanatha Iyer |
|
Designation : |
Director |
|
Date of Appointment : |
01.04.2008 |
|
PAN No.: |
ABUPV1964B |
|
DIN No.: |
02187247 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 19.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
Dipak Agarwalla |
|
181750 |
|
Surendra Kumar Sinha |
|
1624890 |
|
Dipak Agarwalla- HUF |
|
72800 |
|
Vibha Agarwalla |
|
78800 |
|
Kirti G. Saparia |
|
10 |
|
Surendra Kumar Sinha-HUF |
|
33550 |
|
Navin Kumar Sinha |
|
150000 |
|
Molshree Trade Invest Private Limited, India |
|
166600 |
|
Divyajyoti Holdings Private Limited, India |
|
166600 |
|
Ozone Global Limited, U.A.E. |
|
1475100 |
|
Nishant Management Private Limited, India |
|
1000000 |
|
|
|
|
|
Total |
|
4950100 |
Equity Share Break up (Percentage of Total Equity)
As on: 19.08.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
29.80 |
|
Bodies corporate |
|
26.93 |
|
Directors or relatives of directors |
|
43.27 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Low Ash Metallurgical Coke (LAM Coke). |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
Bankers : |
· State Bank of India, Commercial Branch, 3rd Paramsiddhi Complex, Ellisbridge, Ahmedabad - 380006, Gujarat, India · ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Pravin Kumar and Associates Chartered Accountants |
|
Address : |
33/ 2nd Floor, 160, |
|
PAN No.: |
AABPA5760C |
|
|
|
|
Subsidiary Company
: |
· Saurashtra Ferrous Private Limited CIN No.: U27100MH2005PTC152830 · Kutch Coal Carbonisation Private Limited CIN No.:U10102MH2002PTC225006 · Kandla Power Private Limited CIN No.:U40100MH2004PTC149461 · Hindustan Fuels Private Limited CIN No.:U10102MH2004PTC225005 · Classic Energy (India) Private Limited CIN No.:U23100MH2004PTC225007 |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
· DKS Shipping Private Limited CIN No.:U35110MH2004PTC150100 · Saurashtra Exim Private Limited CIN No.:U23100MH2004PTC149820 · Brahma Refractories Private Limited CIN No.:U26959WB2005PTC102339 · Magnum Shipping Services · Saurashtra Containers Private Limited CIN No.:U63090MH2005PTC150685 · Brahmdeo Sinha and Co (Hard Coke) Private Limited CIN No.:U23109WB2005PTC102302 |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15750000 |
Equity Shares |
Rs.10/- each |
Rs.157.500 Millions |
|
1250000 |
Preference Shares |
Rs.100/- each |
Rs.125.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.282.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4950100 |
Equity Shares |
Rs.10/- each |
Rs.49.501 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
49.501 |
49.501 |
49.501 |
|
(b) Reserves & Surplus |
249.553 |
329.057 |
609.311 |
|
(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) |
299.054 |
378.558 |
658.812 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1848.839 |
1940.530 |
2217.912 |
|
(b) Deferred tax liabilities (Net) |
32.580 |
152.610 |
60.138 |
|
(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) |
1881.419 |
2093.140 |
2278.050 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
102.686 |
482.491 |
51.744 |
|
(b) Trade payables |
928.944 |
2484.062 |
567.758 |
|
(c) Other current liabilities |
313.434 |
299.746 |
378.112 |
|
(d) Short-term provisions |
0.000 |
0.000 |
90.267 |
|
Total Current
Liabilities (4) |
1345.064 |
3266.299 |
1087.881 |
|
|
|
|
|
|
TOTAL |
3525.537 |
5737.997 |
4024.743 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
827.860 |
837.421 |
982.508 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
83.204 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
99.800 |
290.408 |
293.899 |
|
(c) Deferred tax assets (net) |
99.575 |
69.270 |
0.000 |
|
(d) Long-term Loan and Advances |
87.398 |
78.951 |
78.879 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1197.837 |
1276.050 |
1355.286 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1137.481 |
3168.686 |
1177.944 |
|
(c) Trade receivables |
622.711 |
633.616 |
837.109 |
|
(d) Cash and cash equivalents |
132.885 |
139.849 |
86.416 |
|
(e) Short-term loans and advances |
434.623 |
519.796 |
567.988 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current
Assets |
2327.700 |
4461.947 |
2669.457 |
|
|
|
|
|
|
TOTAL |
3525.537 |
5737.997 |
4024.743 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
10089.025 |
14711.193 |
15575.340 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
9729.862 |
14308.966 |
14665.447 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
359.163 |
402.227 |
909.893 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
315.987 |
299.773 |
268.443 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
43.176 |
102.454 |
641.450 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
140.580 |
144.636 |
172.678 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(97.404) |
(42.182) |
468.772 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(26.776) |
238.071 |
94.887 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(70.628) |
(280.253) |
373.885 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
280.182 |
569.310 |
195.426 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
209.553 |
289.057 |
569.311 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. value of Exports. |
2215.418 |
5726.597 |
7851.097 |
|
|
|
Other Earnings |
44.686 |
39.925 |
0.000 |
|
|
TOTAL EARNINGS |
2260.104 |
5766.522 |
7851.097 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
175.985 |
507.745 |
1204.343 |
|
|
|
Raw Materials |
5510.922 |
12370.821 |
5991.097 |
|
|
TOTAL IMPORTS |
5686.907 |
12878.566 |
7195.440 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(14.27) |
(56.62) |
75.53 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total
Income |
(%) |
(0.70) |
(1.91) |
2.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.00) |
(0.78) |
12.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.33) |
(0.11) |
0.71 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
6.53 |
6.40 |
3.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.73 |
1.37 |
2.45 |
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 |
Yes |
|
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 Office 93, 9th
Floormittal Tower, Nariman Point, Mumbai-400021, Maharashtra, India to the
present address w.e.f. 12.12.2012
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG-TERM
BORROWINGS |
|
|
|
Fully convertible debentures others |
37.002 |
37.002 |
|
Deferred sales tax loan |
763.253 |
558.955 |
|
Other loans and advances, others |
189.757 |
185.257 |
|
|
|
|
|
Total |
990.012 |
781.214 |
OPERATIONS
During the year, the Company continued to face a number of external challenges including the ban on iron ore mining in Karnataka and other states in India. This led to a major slowdown in the demand for coke especially from pig iron manufacturers in India. The company has reduced its production by 24% compared to previous year due to lower demand in domestic and international market. As the company’s raw material requirement is import based there is significant exposure to foreign exchange and with continued wide fluctuation in INR-USD the company has changed its exchange risk management strategy from adhoc basis cover to consumption basis which has saved the company from any major Forex loss during the year.
Despite the above challenges, the company remains focused on extracting the maximum internal efficiencies and operational productivity in order to achieve sustainable growth as envisaged.
The company is operating two wind mills in Gujarat which is mainly for captive consumption and performance of the same is satisfactory.
CONTINGENT
LIABILITIES
(Rs. In Millions)
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
|
Corporate Guarantee in favour of Subsidiary and Associate company |
811.400 |
689.000 |
|
Guarantees issued to the Company by its banker secured by fixed
deposits. |
3.044 |
3.044 |
|
Outstanding Bills discounted by bank. |
103.102 |
1234.867 |
|
For Income tax demand pending under Appeals. |
0.518 |
5.18 |
|
Sales Tax (Amount paid Rs.6.211 millions under protest) |
14.401 |
14.401 |
|
Estimated amount of contracts remaining to be executed on capital
account and not provided. |
27.268 |
NIL |
|
As per CDR
Scheme sanctioned by Consortium Banks, the Company is required to compensate
the Banks in respect of interest sacrificed by Banks as per CDR Scheme. As
the loans outstanding under CDR Scheme are to be paid during the next five
years, the quantum of interest sacrificed by the Banks cannot be ascertained
as of date. The same will be provided as and when it is ascertained |
|
|
|
The company has
imported Raw Material from PEC Limited. Vide Vessel Named Y. M. Rightness.
Due to flood situation prevalent during December 2010 – February 2011 at the
load port the original supplier declared force majeure. since company had
arranged the vessel and liable to pay demurrage if any on account of delay in
loading at load port. The vessel has charged demurrage on load port amounting
to Rs.31.100 millions (USD$612044).the company has rejected their claim and
filed for arbitration in U K which is pending for final award. |
33.234 |
31.100 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10298744 |
22/05/2012 * |
3,551,800,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, PARAMSIDHI COMPLEX, OPPOSITE V.S. HOSPITAL, ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
B41448267 |
|
2 |
10298763 |
22/05/2012 * |
3,551,800,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, PARAMSIDHI COMPLEX, OPPOSITE V.S. HOSPITAL, ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
B41447632 |
|
3 |
10298767 |
22/05/2012 * |
3,551,800,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, PARAMSIDHI COMPLEX, OPPOSITE V.S. HOSPITAL, ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
B41447517 |
|
4 |
10298775 |
22/05/2012 * |
3,551,800,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, PARAMSIDHI COMPLEX, OPPOSITE V.S. HOSPITAL, ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
B41450164 |
|
5 |
10298808 |
22/05/2012 * |
3,551,800,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, PARAMSIDHI COMPLEX, OPPOSITE V.S. HOSPITAL, ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
B41446675 |
|
6 |
10201417 |
22/05/2012 * |
3,551,800,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, PARAMSIDHI COMPLEX, OPPOSITE V.S. HOSPITAL, ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
B41447020 |
|
7 |
10201483 |
22/05/2012 * |
3,551,800,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, PARAMSIDHI COMPLEX, OPPOSITE V.S. HOSPITAL, ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
B41447970 |
|
8 |
10201586 |
22/05/2012 * |
3,551,800,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, PARAMSIDHI COMPLEX, OPPOSITE V.S. HOSPITAL, ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
B41449745 |
|
9 |
10205620 |
22/05/2012 * |
3,551,800,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, PARAMSIDHI COMPLEX, OPPOSITE V.S. HOSPITAL, ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
B41448036 |
|
10 |
10207206 |
22/05/2012 * |
3,551,800,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, PARAMSIDHI COMPLEX, OPPOSITE V.S. HOSPITAL, ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
B41448358 |
* Date of charge modification
FIXED ASSETS
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
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.61.35 |
|
|
1 |
Rs.100.21 |
|
Euro |
1 |
Rs.83.52 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
2 |
|
--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 |
|
26 |
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.