MIRA INFORM REPORT
|
Report Date : |
04.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
ETA ENGINEERING
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 5, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
31.10.1994 |
|
|
|
|
Com. Reg. No.: |
18-029091 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.185.511 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28920TN1994PTC029091 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEE02038B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE0808P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Electric Pumps, Air
Conditioners, Electrical
Installations etc. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 6296000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There seems some dip in the turnover during 2013. The rating also takes into consideration the working capital intensity
in operations, tender-based nature of business, intense competition in the
mechanical, electrical and plumbing (MEP) business. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. 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 – 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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may grow
4.7 % in the current financial year, lower than the official estimate of 4.9 %,
Fitch Rating said. The global rating agency expects the economy to pick up in
the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating BB (Upgraded from Crisil C)
|
|
Rating Explanation |
Moderate risk of default |
|
Date |
July 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating A4+ |
|
Rating Explanation |
Minimal degree of safety. It carry very high
credit risk. |
|
Date |
July 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
MANAGEMENT NON CO-OPERATIVE (91-44-43429786)
LOCATIONS
|
Registered Office : |
No. 5, |
|
Tel No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
No. 63, New No. 71, Sterling Road, Nungambakkam, Chennai - 600034,
Tamilnadu, India |
|
Tel. No.: |
91-44-43429786 |
|
Fax No.: |
91-44-43429999 |
|
E-Mail : |
|
|
|
|
|
Factory 1: |
No. 627, Chinganazath House, Near Union Bank of India, K.P. Vallon
Road, Kochi - 682020, Kerala, India |
|
Tel No.: |
91-484-2311638 |
|
Fax No.: |
91-484-2311638 |
|
|
|
|
Factory 2: |
K-6, Sipcot Industrial Park, Phase II, Mampakkam, Sriperumbudur,
Kancheerpurm - 602105, Tamilnadu, India |
|
|
|
|
Branches : |
Located At:
|
|
|
|
|
Satellite Office : |
Located at
|
DIRECTORS
As on 30.10.2013
|
Name : |
Mr. Abdul Rahman Buhari Abdul Qadir |
|
Designation : |
Director |
|
Address : |
8, |
|
Date of Birth/Age : |
14.03.1965 |
|
Date of Appointment : |
17.03.2011 |
|
DIN No.: |
00312115 |
|
|
|
|
Name : |
Mr. Ashok Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
X-404, |
|
Date of Birth/Age : |
17.12.1949 |
|
Date of Appointment : |
31.10.1994 |
|
DIN No.: |
02344390 |
|
|
|
|
Name : |
Mr. Abdul Cader Junaid Yaseen Mohamed |
|
Designation : |
Director |
|
Address : |
35/9, Jayalakshmi Pura, 1st Street, Nungambakkam, Chennai –
600034, Tamilnadu, India |
|
Date of Birth/Age : |
21.05.1965 |
|
Qualification : |
MBA |
|
Date of Appointment : |
03.12.1996 |
|
DIN No.: |
00966039 |
|
|
|
|
Name : |
Mr. Buhari Abdul Khader Khalid |
|
Designation : |
Director |
|
Address : |
25, Khader Nawaz Khan Road, Nungambakkam, Chennai – 400034, Tamilnadu,
India |
|
Date of Birth/Age : |
12.11.1957 |
|
Date of Appointment : |
30.08.2004 |
|
DIN No.: |
01274334 |
|
|
|
|
Name : |
Mr. Abdul Khader Anwar Basha |
|
Designation : |
Additional Director |
|
Address : |
43, East Middle St, Labbaikudikadu P O, Tiruchirappalli - 621108,
Tamilnadu, India |
|
Date of Birth/Age : |
05.09.1948 |
|
Date of Appointment : |
28.10.2010 |
|
DIN No.: |
02344362 |
|
|
|
|
Name : |
Bidyut Chattopadhyay |
|
Designation : |
Director |
|
Address : |
73-5-2, south Buxarah, 1st Byelane, Howrah 9, Howrah, West
Bengal, India |
|
Date of Birth/Age : |
17.09.1952 |
|
Date of Appointment : |
01.04.2012 |
|
DIN No.: |
03582823 |
KEY EXECUTIVES
|
Name : |
Mr. M Kalpna Gupta |
|
Designation : |
Secretary |
|
Address : |
AG 100, 7th Main Road, Shanti Colony, Anna Nagar, Chennai –
600 040, Tamilnadu, India |
|
Date of Birth/Age : |
24.11.1985 |
|
Date of Appointment : |
01.08.2011 |
|
PAN No.: |
APJPK2264C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.10.2013
|
Names of Shareholders |
No. of Shares |
|
S M Salauddin |
500000 |
|
Emirates Trading Agency LLC, United Arab Emirates |
4293368 |
|
Abdul Cader Junaid Yaseen Mohamed |
371100 |
|
Arif B Rahman |
1000 |
|
Electro Mechanical Technical Associated Limited, |
13990364 |
|
Mir Mahmood Mohiuddin |
630280 |
|
Ashok Kumar Agarwal |
504304 |
|
Anwar Basha |
252052 |
|
Hameed S Salahuddin |
1000 |
|
Ahmed S Salahuddin |
1000 |
|
Kitchen House Appliances Private Limited, |
300000 |
|
ETA Star Holding Limited, Dubai |
517742 |
|
|
|
|
Total |
21362210 |
As on 30.10.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
96.86 |
|
Bodies corporate |
1.40 |
|
Directors or relatives of Directors |
1.74 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Electric Pumps, Air
Conditioners, Electrical
Installations etc. |
||||
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|
Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
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|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
L and T Infrastructure Finance Company limited, Mount Poonamallee
Road, Manapakkam, Chennai – 600089, Tamilnadu, India |
|
|
|
|
Auditors : |
|
|
Name : |
R. Bupathy and Company Chartered Accountants |
|
Address : |
|
|
Tel. No. : |
91-44-28278300/28277590/28242302 |
|
Fax No. : |
91-44-28242302 |
|
E-Mail : |
|
|
PAN
No. : |
AAAFR8792G |
|
|
|
|
Subsidiaries : |
¨ Alpha Duct Private Limited ¨ Alpha Kool Therm Private Limited |
|
|
|
|
Others : |
¨ Alpha Star Trading Private Limited ¨ Alpha Star Trading(Dubai) ¨ Ascon Travel Private Limited ¨ Bhim Singh Yadav Property Private Limited ¨ Buhari Facility Management Private Limited ¨ Buhari Holdings Private Limited ¨ Cbm Primetech Facilities Management Private Limited ¨ Debbas Prime Solutions Private Limited ¨ Debbas Prime Solutions Private Limited ¨ East Coast Constructions And Industries Limited ¨ East Coast Terminal Operations And Port Services Limited ¨ East Coast Travel Private Limited ¨ Ecci Info Park Limited ¨ Eltech Appliances Private Limited ¨ Emirates Duct Llc ¨ Emirates Trading Agency Llc,Dubai ¨ Eta Mauritius ¨ Eta Star Holdings Limited ¨ Eta Constructions(India) Limited ¨ Eta General Private Limited ¨ Eta Llc & Eta Epl Consortium ¨ Eta-Melco Engineering Company Private Limited ¨ Eta Star Airlines ¨ Eta S T A R Engineering And Contracting, Malaysia ¨ Eta Star India Projects Private Limited ¨ Eta Star Infotech India Private Limited ¨ Eta Star-Marsol India Private Limited ¨ Eta Star Power Control Systems Private Limited ¨ Eta Technopark Limited ¨ Eta Travel Agency Private Limited ¨ Freightstar Private Limited ¨ Integrated Intelligent Solutions and Technologies Private Limited ¨ Kitchen House Appliances Private Limited ¨ Mepax Engineers Private Limited ¨ Prime Cold Stores Private Limited ¨ Prime Fertilizers Limited ¨ Prime Refrigeration Private Limited ¨ Prime Technologies Llc ¨ Primetech Holdings Private Limited ¨ Star Health And Allied Insurance Company Limited ¨ Star Hr & Trading Services ¨ Star Powergen (India) Private Limited ¨ Star Utility Services Private Limited ¨ Limited ¨ West Asia Exports And Imports Private Limited ¨ West Asia Maritime Limited ¨ Eta Star Property Developers Limited ¨ Eta Star Appliances Private Limited ¨ Star Min Resource Private Limited ¨ Trade Min Trust ¨ Eta Strar Engineering And Contractiong Wll ¨ Eta Star Elevators Private Limited |
CAPITAL STRUCTURE
After 30.10.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
166000000 |
Equity Shares |
Rs.10/- each |
Rs.1660.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21362210 |
Equity Shares |
Rs.10/- each |
Rs.213.622 Millions |
|
|
|
|
|
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
166000000 |
Equity Shares |
Rs.10/- each |
Rs.1660.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18551100 |
Equity Shares |
Rs.10/- each |
Rs.185.511 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 |
185.511 |
185.511 |
185.511 |
|
(b) Reserves & Surplus |
440.510 |
73.300 |
779.696 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
948.113 |
948.113 |
923.113 |
|
Total
Shareholders’ Funds (1) + (2) |
1574.134 |
1206.924 |
1888.320 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
172.128 |
2237.712 |
2229.174 |
|
(b) Deferred tax liabilities (Net) |
22.311 |
203.456 |
154.184 |
|
(c) Other long term
liabilities |
140.220 |
218.669 |
230.359 |
|
(d) long-term provisions |
17.495 |
12.601 |
11.725 |
|
Total Non-current
Liabilities (3) |
352.154 |
2672.438 |
2625.442 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
917.716 |
1024.150 |
891.021 |
|
(b) Trade
payables |
1739.829 |
2147.111 |
2092.640 |
|
(c) Other
current liabilities |
1864.196 |
1514.326 |
1479.923 |
|
(d) Short-term
provisions |
666.394 |
426.124 |
591.605 |
|
Total Current
Liabilities (4) |
5188.135 |
5111.711 |
5055.189 |
|
|
|
|
|
|
TOTAL |
7114.423 |
8991.073 |
9568.951 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
700.152 |
2116.720 |
2016.760 |
|
(ii)
Intangible Assets |
6.854 |
391.677 |
416.860 |
|
(iii) Capital
work-in-progress |
211.430 |
439.560 |
283.832 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
136.764 |
183.015 |
190.972 |
|
(c) Deferred tax assets (net) |
0.000 |
26.509 |
0.000 |
|
(d) Long-term Loan and Advances |
134.636 |
608.652 |
534.982 |
|
(e) Other
Non-current assets |
540.743 |
919.363 |
1115.057 |
|
Total Non-Current
Assets |
1730.579 |
4685.496 |
4558.463 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2189.082 |
1348.198 |
2079.615 |
|
(c) Trade
receivables |
1587.261 |
1749.147 |
1491.203 |
|
(d) Cash
and cash equivalents |
670.239 |
422.002 |
518.434 |
|
(e)
Short-term loans and advances |
914.152 |
760.916 |
898.681 |
|
(f) Other
current assets |
23.110 |
25.314 |
22.555 |
|
Total
Current Assets |
5383.844 |
4305.577 |
5010.488 |
|
|
|
|
|
|
TOTAL |
7114.423 |
8991.073 |
9568.951 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
6812.300 |
7756.200 |
7763.900 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
6341.100 |
7858.500 |
7227.700 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
471.200 |
(102.300) |
536.200 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
126.000 |
48.800 |
239.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
345.200 |
(151.100) |
296.900 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
60.500 |
47.400 |
134.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
284.700 |
(198.500) |
162.400 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(82.500) |
507.800 |
67.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
367.200 |
(706.300) |
94.800 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
104.879 |
59.267 |
68.764 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
19.79 |
(38.73) |
0.05 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.39 |
(9.11) |
1.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.21 |
(2.38) |
1.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
(0.16) |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.69 |
2.70 |
1.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04 |
0.84 |
0.99 |
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 |
185.511 |
185.511 |
185.511 |
|
Reserves & Surplus |
779.696 |
73.300 |
440.510 |
|
Share Application money
pending allotment |
923.113 |
948.113 |
948.113 |
|
Net
worth |
1888.320 |
1206.924 |
1574.134 |
|
|
|
|
|
|
long-term borrowings |
2229.174 |
2237.712 |
172.128 |
|
Short term borrowings |
891.021 |
1024.150 |
917.716 |
|
Total
borrowings |
3120.195 |
3261.862 |
1089.844 |
|
Debt/Equity
ratio |
1.652 |
2.703 |
0.692 |
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 |
7763.900 |
7756.200 |
6812.300 |
|
|
|
(0.099) |
(12.170) |
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 |
7763.900 |
7756.200 |
6812.300 |
|
Profit |
94.800 |
(706.300) |
367.200 |
|
|
1.22% |
(9.11%) |
5.39% |
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 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advance from others |
172.128 |
159.306 |
|
|
|
|
|
Total |
172.128 |
159.306 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10176115 |
04/03/2013 * |
3,250,000,000.00 |
PUNJAB NATIONAL BANK |
Large Corporate Branch, Makers Towers 'E', Gr. Flr, Cuffe Parade,
Mumbai, Maharashtra - 400005, INDIA |
B72196595 |
|
2 |
10129579 |
24/04/2013 * |
1,850,000,000.00 |
IDBI Bank Limited |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, Maharashtra - 400005,
INDIA |
B74471731 |
|
3 |
10141501 |
28/06/2008 |
250,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD,
WORLI, MUMBAI, Maharashtra - 400018, INDIA |
A43947712 |
|
4 |
10026365 |
09/11/2006 |
180,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD,
WORLI, MUMBAI, Maharashtra - 400018, INDIA |
A06753768 |
|
5 |
90288656 |
22/08/2008 * |
1,896,000,000.00 |
INDIAN OVERSEAS BANK |
NEHRU PARK BRANCH, 872, POONAMALLEE HIGH ROAD, CHENNAI, Tamil Nadu -
600084, INDIA |
A45407350 |
|
6 |
90295028 |
30/01/2013 * |
3,210,000,000.00 |
Jammu and Kashmir Bank Ltd |
No 52, Armenian Street, Parrys, Chennai, Tamil Nadu - 600001, INDIA |
B71017024 |
* Date of charge modification
OPERATIONS
The Company has noticed a marginal decrease in the turnover at Rs 6812.300 millions compared to Rs 7756.200 millions in the previous year. However, Company’s margin has increased bringing in a profit of Rs 430.000 millions from the engineering division of the Company. The Company signed a Business Transfer Agreement with M/s Vikram Logistics and Maritime Services Private limited to hive off the Logistics Division of the Company on slump sale basis and final asset/ Liability transfer was completed on 15.03.2013. The Company absorbed a loss of Rs.72.100 millions from the discontinued operations.
The Company has also obtained improved ratings from CRISIL after the hive off logistics division, going forward, company is expected to show better performance in turnover, profits and free cash flows, thereby strengthening the company to enhance their borrowing capacity and bid for larger projects. During the year, the company has booked projects worth Rs 18500.000 millions and Rs 11630.000 millions from April 2013 to Sept, 13. Major projects include Delhi Metro Rail Corporation, DLF Primus, DLF Regal, NKG Infrastruture, NPCIL in Delhi, Huawei Technologies, CISCO systems, Hiltion Hotels in Bangalore, Chennai Metro Rail, Prestige Bellavista, Ascendas in Chennai, NISER (Atomic Energy dept), ABB, BHEL in Kolkata, ISRO, Emmay Logistics, Apollo Hotels in Cochin, Olympic Laminates, Gift City in Gujarat, World One (Lodha Project), Vodafone in Mumbai.
The order book of the Company as of sept 13 stands at Rs 36430.000 millions and bid for many large projects to be finalized over the next quarters. With healthy order book position and hiving off of logistic division, Company is expected to post a standalone turnover of Rs 10600.000 millions and a bottom line of Rs 530.000 millions during the financial year 2013-14.
FIXED ASSETS
œ Land
œ Building
œ Air Conditioner
œ Electrical
Fittings
œ Office Equipments
œ Plant and
Machinery
œ Furniture and
Fittings
œ Vehicles
œ Computer
œ
Trade Mark
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.59.21 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.80.56 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
35 |
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.