1. Summary Information
|
Country |
India |
||
|
Company Name |
L&T VALVES LIMITED |
Principal Name 1 |
Mr. Jagdish Pandurang Nayak |
|
Status |
Good |
Principal Name 2 |
Mr. Raghavan Sadagopan |
|
Registration # |
11-012188 |
||
|
Street Address |
L and T House,
Ballard Estate, Mumbai – 400001, Maharashtra, India |
||
|
Established Date |
23.11.1961 |
SIC Code |
-- |
|
Telephone# |
Not Available |
Business Style 1 |
Manufacturer |
|
Fax # |
Not Available |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Industrial Valves |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.156,326,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings -50.00% Bodies corporate -50.00% |
Banking |
Bank
of Baroda |
|
Public Limited Corp. |
NO |
Business Period |
53 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
A
(57) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Related Party |
India
|
Larsen and Toubro Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
3,182,819,000 |
Current Liabilities |
1,695,155,000 |
|
Inventories |
1,327,542,000 |
Long-term Liabilities |
37,647,000 |
|
Fixed Assets |
512,830,000 |
Other Liabilities |
944,544,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
2,677,346,000 |
|
Invest& other Assets |
9,276,000 |
Retained Earnings |
2,198,795,000 |
|
|
|
Net Worth |
2,355,121,000 |
|
Total Assets |
5,032,467,000 |
Total Liab. & Equity |
5,032,467,000 |
|
Total Assets (Previous Year) |
5,798,033,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
6,507,208,000 |
Net Profit |
397,980,000 |
|
Sales(Previous yr) |
5,604,712,000 |
Net Profit(Prev.yr) |
608,135,000 |
MIRA INFORM REPORT
|
Report Date : |
02.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
L&T VALVES LIMITED (w.e.f. 29.04.2013) |
|
|
|
|
Formerly Known
As : |
AUDCO INDIA LIMITED |
|
|
|
|
Registered
Office : |
L and T House, Ballard Estate, Mumbai – 400001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
23.11.1961 |
|
|
|
|
Com. Reg. No.: |
11-012188 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.156.326 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH1961PLC012188 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA9647E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Seller of Industrial Valves. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (57) |
|
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 9400000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Larsen and Toubro Limited”. It is an established company having good track record. There is a dip in profit of the company during 2013. However, overall
financial position of the company is sound and healthy. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be regular and as per commitments. In the view of strong holding, 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.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
N E W S
The economy grew 4.7 %in 2013/14, marking a second
straight year of sub-5 % growth – the worst slowdown in more than a quarter of
a century. The data was below an official estimate of 4.9 % annual growth and
compared with 4.5 % in the last fiscal year. However, the current account
deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product,
in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A
sharp fall in gold imports due to restrictions on overseas purchases and muted
import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from Russian
Investment firm DST Global which has also invested in companies like Facebook,
Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy AstraZeneca
for nearly $ 118 billion after the latter refused an offer of 55 pounds a
share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund Based limits = AA |
|
Rating Explanation |
High degree of safety and low credit risk |
|
Date |
January, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non Fund Based limits = A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
January, 2014 |
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 DECLINED
Management Non-Cooperative (91-44-22498201)
LOCATIONS
|
Registered Office : |
L and T House, Ballard Estate, Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
976, Mount - Poonamallee Road, Opposite L&T Construction Campus, Manapakkam, Chennai – 600089, Tamilnadu, India |
|
Tel. No.: |
91-44-22498201 |
|
Fax No.: |
91-44-22492794 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Located at:
|
DIRECTORS
As on 30.09.2012
|
Name : |
Mr. Jagdish Pandurang Nayak |
|
Designation : |
Director |
|
Address : |
Gilder House, 2nd Floor 67F, Bhulabhai Desai Road, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
13.11.1943 |
|
Qualification : |
B.E. (Mech), PGD IN PROD ENGG. |
|
Date of Appointment : |
29.07.1999 |
|
DIN No.: |
00001644 |
|
|
|
|
Name : |
Mr. Raghavan Sadagopan |
|
Designation : |
Director |
|
Address : |
Flat No. 302, Emerald ' Green Apartment, 108 6th Main, 8th Cross, Malleshwaram, Bangalore – 560003, Karnataka, India |
|
Date of Birth/Age : |
25.03.1946 |
|
Qualification : |
LME, AMIE, M.A. |
|
Date of Appointment : |
27.05.2008 |
|
DIN No.: |
00002647 |
|
|
|
|
Name : |
Mr. Subramanian Ramakrishnan Subramanian |
|
Designation : |
Director |
|
Address : |
AH-3, 1st Floor, Old No AH-7S, 5th Street, 7th Main, Shanti Colony, Anna Nagar Chennai - 600040, Tamilnadu, India |
|
Date of Birth/Age : |
05.10.1954 |
|
Qualification : |
BE (Mechanical) |
|
Date of Appointment : |
24.08.2012 |
|
DIN No.: |
03278824 |
KEY EXECUTIVES
|
Name : |
Mr. Venkatasubramanian Venkatachalam Nelepally |
|
Designation : |
Manager |
|
Address : |
6D KG Towers 30 and 30A, 100FT, Byepass Road, Velacherry, Chennai – 600042, Tamilnadu, India |
|
Date of Birth/Age : |
24.08.1960 |
|
Date of Appointment : |
01.07.2009 |
|
PAN No.: |
AADPV6183C |
|
|
|
|
Name : |
Mr. Rajavel Sundaresan |
|
Designation : |
Company Secretary |
|
Address : |
No-5 Fourth Cross, Gupta Layout, Ulsoor, Bangalore - 560008, Karnataka, India |
|
Date of Birth/Age : |
27.05.1960 |
|
Date of Appointment : |
09.12.2010 |
|
PAN No.: |
AAPPR3224A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Larsen and Toubro Limited, India |
|
781626 |
|
Audco Limited, India |
|
781626 |
|
Jagdish Pandurang Nayak Jointly With Larsen and Toubro Limited, India |
|
1 |
|
Gopinath Sivasankar Jointly With Audco Limited, India |
|
1 |
|
Thomas Louis Pajonas Jointly With Audco Limited |
|
1 |
|
Narayanaswamy Hariharan Jointly With Larsen and Toubro Limited, India |
|
1 |
|
John Lenander Jointly With Audco Limited, India |
|
1 |
|
Sadagopan Raghavan Thathachari Jointly With Larsen and Toubro Limited, India |
|
1 |
|
Samuel Barett Jointly With Audco Limited, India |
|
1 |
|
Subramanian Ramakrishnan Subramanian Jointly With Larsen and Toubro Limited, India |
|
1 |
|
Total |
|
1563260 |
As on 30.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
50.00 |
|
Bodies corporate |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of Industrial Valves. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
Loan from banks During the year the Company has availed Buyers credit of EURO 476000 ( Rs 330.80 Lakhs) from Bank of Baroda, repayable on July 14, 2015. This is secured by hypothecation of stocks of raw materials, components, work-in-progress, finished goods and book debts, both present and future. |
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Sharp and Tannan Chartered Accountants |
|
Address : |
Parsn Manere, Block A-4, III Floor,602 Anna Salai, Chennai - 600006, Tamilnadu, India |
|
PAN No.: |
AAAFS2512D |
|
|
|
|
Holding Company |
Larsen and Toubro Limited |
|
|
|
|
Subsidiary |
|
|
|
|
|
Associate |
|
|
|
|
|
50% shareholder upto
27 March 2013 |
Audco Limited, UK |
|
|
|
|
Ultimate Holding
Company of Audco Limited,UK |
Flowserve Corporation, USA |
|
|
|
|
Group Company of
Flowserve Corporation, USA |
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1800000 |
Equity Shares |
Rs.100/- each |
Rs.180.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1563260 |
Equity Shares |
Rs.10/- each |
Rs.156.326 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 |
156.326 |
156.326 |
156.326 |
|
(b) Reserves & Surplus |
2198.795 |
2963.605 |
2573.493 |
|
(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) |
2355.121 |
3119.931 |
2729.819 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
33.080 |
0.164 |
0.245 |
|
(b) Deferred tax liabilities (Net) |
50.406 |
46.865 |
47.990 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
16.595 |
20.403 |
34.690 |
|
Total Non-current
Liabilities (3) |
100.081 |
67.432 |
82.925 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
4.567 |
44.267 |
81.932 |
|
(b) Trade payables |
1448.879 |
1285.998 |
1099.711 |
|
(c) Other current liabilities |
246.276 |
270.153 |
311.617 |
|
(d) Short-term provisions |
877.543 |
1010.252 |
945.630 |
|
Total Current
Liabilities (4) |
2577.265 |
2610.670 |
2438.890 |
|
|
|
|
|
|
TOTAL |
5032.467 |
5798.033 |
5251.634 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
512.830 |
778.181 |
828.048 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
9.276 |
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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4.358 |
8.193 |
5.250 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
526.464 |
786.374 |
833.298 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1327.542 |
1345.940 |
954.434 |
|
(c) Trade receivables |
1534.044 |
1568.606 |
2811.339 |
|
(d) Cash and cash equivalents |
788.608 |
1235.081 |
0.596 |
|
(e) Short-term loans and advances |
855.797 |
861.749 |
651.523 |
|
(f) Other current assets |
0.012 |
0.283 |
0.444 |
|
Total Current
Assets |
4506.003 |
5011.659 |
4418.336 |
|
|
|
|
|
|
TOTAL |
5032.467 |
5798.033 |
5251.634 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6507.208 |
5604.712 |
4575.980 |
|
|
|
Other Income |
255.776 |
178.317 |
175.516 |
|
|
|
TOTAL (A) |
6762.984 |
5783.029 |
4751.496 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
4582.137 |
3680.362 |
3241.751 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
2.539 |
(175.692) |
(130.254) |
|
|
|
Employee benefit expense |
642.360 |
601.677 |
528.144 |
|
|
|
Other expenses |
848.642 |
690.073 |
564.440 |
|
|
|
Extraordinary items |
(0.606) |
-- |
-- |
|
|
|
TOTAL (B) |
6075.072 |
4796.420 |
4204.081 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
687.912 |
986.609 |
547.415 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.273 |
1.758 |
2.383 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
682.639 |
984.851 |
545.032 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
73.645 |
73.705 |
73.743 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
608.994 |
911.146 |
471.289 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
211.014 |
303.011 |
145.509 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
397.980 |
608.135 |
325.780 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1181.827 |
852.529 |
759.846 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
39.798 |
60.814 |
32.578 |
|
|
|
Dividend |
1000.486 |
187.591 |
171.959 |
|
|
|
Tax on Dividend |
162.304 |
30.432 |
28.560 |
|
|
BALANCE CARRIED
TO THE B/S |
377.219 |
1181.827 |
852.529 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1219.955 |
1124.779 |
880.295 |
|
|
TOTAL EARNINGS |
1219.955 |
1124.779 |
880.295 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
254.58 |
389.02 |
208.40 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.88
|
10.52 |
6.86 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.36
|
16.26 |
10.30 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.12
|
15.71 |
8.97 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.29 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.02
|
0.01 |
0.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.75
|
1.92 |
1.81 |
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 |
156.326 |
156.326 |
156.326 |
|
Reserves & Surplus |
2573.493 |
2963.605 |
2198.795 |
|
Net
worth |
2729.819 |
3119.931 |
2355.121 |
|
|
|
|
|
|
long-term borrowings |
0.245 |
0.164 |
33.080 |
|
Short term borrowings |
81.932 |
44.267 |
4.567 |
|
Total
borrowings |
82.177 |
44.431 |
37.647 |
|
Debt/Equity
ratio |
0.030 |
0.014 |
0.016 |
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 |
4575.980 |
5604.712 |
6507.208 |
|
|
|
22.481 |
16.102 |
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 |
4575.980 |
5604.712 |
6507.208 |
|
Profit |
325.780 |
608.135 |
397.980 |
|
|
7.12% |
10.85% |
6.12% |
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 |
No |
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
|
Long term maturities of finance lease obligations |
0.000 |
0.164 |
|
Total |
0.000 |
0.164 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10092831 |
07/12/2007 |
1,200,000,000.00 |
BANK OF BARODA |
MOUNT ROAD BRANCH NO.1, CLUB HOUSSE ROAD, CHENNAI, TAMILNADU - 600002, INDIA |
A34355644 |
* Date of charge modification
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 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.60.14 |
|
|
1 |
Rs.102.83 |
|
Euro |
1 |
Rs.82.28 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
57 |
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.