MIRA INFORM REPORT
|
Report Date : |
20.06.2014 |
IDENTIFICATION DETAILS
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Name : |
UNITY INFRAPROJECTS LIMITED (w.e.f. 14.01.2000) |
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Formerly Known
As : |
UNITY BUILDERS LIMITED |
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Registered Office
: |
1252, Pushpanjali Apartments, Old Prabhadevi Road, Mumbai – 400 025,
Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
09.04.1997 |
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Com. Reg. No.: |
11-107153 |
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Capital
Investment / Paid-up Capital : |
Rs.148.175
Millions |
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CIN No.: [Company Identification
No.] |
L99999MH1997PLC107153 |
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PAN No.: [Permanent Account No.] |
AAACU4560E |
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Legal Form : |
Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges. |
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Line of Business
: |
Construction and Engineering. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 33000000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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Comments : |
Subject is one of
India’s established major civil contracting firms having satisfactory track. The company possesses
an acceptable financial profile marked by adequate networth base along with
long collection period resulting in increased short term financing
requirements consequently in the form of high utilization of working capital
limits as well as exposure to riskier real estate projects through its
subsidiaries. However,
management has reported a growth in its sales volume during FY 13. Trade relations
are fair. Business is active. Payment terms are reported as slow but correct. In view of long
track and professionally qualified management, the subject can be considered
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.
INDIAN ECONOMIC OVERVIEW
NEWS
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 with 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 |
CARE |
|
Rating |
BBB+ [Long Term Bank Facilities] (Suspended) |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
29.10.2012 |
|
Rating Agency Name |
CARE |
|
Rating |
A3+ [Short Term Bank Facilities] (Suspended) |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
29.10.2012 |
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 BY
|
Name : |
Mr. Prakash Chavan |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-22-66665500 |
|
Date : |
19.06.2014 |
LOCATIONS
|
Registered Office : |
1252, Pushpanjali Apartments, Old Prabhadevi Road, Mumbai – 400 025,
Maharashtra |
|
Tel. No.: |
91-22-66665500 |
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Fax No.: |
91-22-66665599 |
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E-Mail : |
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Website : |
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Head Office : |
Located at Mumbai, Maharashtra, India |
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Regional Office : |
Located At:
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Building Project : |
Located At:
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Water Project : |
Located At:
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Transport Project : |
Located At:
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DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Abhijit K. Avarsekar |
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Designation : |
Vice Chairman Managing Director and Chief Executive Officer |
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Name : |
Mr. Kishore K. Avarsekar |
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Designation : |
Chairman and Managing Director |
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Name : |
Mrs. Pushpa K. Avarsekar |
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Designation : |
Executive Director |
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Name : |
Mr. Ashish K. Avarsekar |
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Designation : |
Executive Director |
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Name : |
Mr. Anil G. Joshi |
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Designation : |
Director |
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Name : |
Mr. Chaitanya Joshi |
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Designation : |
Director |
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Name : |
Mr. Girish Gokhale |
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Designation : |
Director |
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Name : |
Mr. Dinesh Joshi |
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Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Madnav
Nadkarni |
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Designation : |
Chief Financial Officer |
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|
|
Name : |
Mr. Prakash Chavan |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2014
|
Category of Shareholders |
No.
of Shares |
Percentage
of holding |
|
(A)
Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
24718000 |
33.36 |
|
|
21746500 |
29.35 |
|
|
46464500 |
62.72 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
46464500 |
62.72 |
|
(B)
Public Shareholding |
|
|
|
|
|
|
|
|
4549743 |
6.14 |
|
|
996080 |
1.34 |
|
|
5545823 |
7.49 |
|
|
|
|
|
|
4541708 |
6.13 |
|
|
|
|
|
|
13196329 |
17.81 |
|
|
2830519 |
3.82 |
|
|
1508501 |
2.04 |
|
|
52000 |
0.07 |
|
|
810905 |
1.09 |
|
|
645596 |
0.87 |
|
|
22077057 |
29.80 |
|
Total
Public shareholding (B) |
27622880 |
37.28 |
|
Total
(A)+(B) |
74087380 |
100.00 |
|
(C)
Shares held by Custodians and against which Depository Receipts have been
issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
74087380 |
0.00 |
Shareholding of securities (including shares, warrants, convertible
securities) of persons belonging to the category Promoter and Promoter Group
|
Sl. No. |
Name of the Shareholder |
Details of Shares held |
|
|
No. of Shares held |
As a % of grand total |
||
|
1 |
Avarsekar and Sons Private Limited |
2,17,46,500 |
29.35 |
|
2 |
Abhijit Kishore Avarsekar |
1,22,43,365 |
16.53 |
|
3 |
Kishore Krishnarao Avarsekar |
81,63,405 |
11.02 |
|
4 |
Ashish Kishore Avarsekar |
34,06,420 |
4.60 |
|
5 |
Pushpa Kishore Avarsekar |
8,83,310 |
1.19 |
|
6 |
Anil Krishnarao Avarsekar |
20,500 |
0.03 |
|
7 |
Apurva Ashish Avarsekar |
500 |
0.00 |
|
8 |
Shweta Abhijit Avarsekar |
500 |
0.00 |
|
|
Total |
4,64,64,500 |
62.72 |
Shareholding of securities (including shares, warrants, convertible
securities) of persons belonging to the category Public and holding more than
1% of the total number of shares
|
Sl. No. |
Name of the Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
|
|
1 |
United India Insurance Company Limited |
3297505 |
4.45 |
|
|
2 |
Aviva Life Insurance Company India Limited |
2115174 |
2.85 |
|
|
3 |
Ashish Dhawan |
1408711 |
1.90 |
|
|
4 |
Life Insurance Corporation of India |
1111983 |
1.50 |
|
|
|
Total |
7933373 |
10.71 |
BUSINESS DETAILS
|
Line of Business : |
Construction and Engineering. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
C B Chhajed and Company Chartered Accountant |
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Address : |
13, Manik Apartment, |
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Tel. No.: |
91-22-4226830 / 4314804 |
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Subsidiary company: |
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Associate company: |
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Enterprises over
which key management personnel and their relatives exercise significant
influence or control. |
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CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
125000000 |
Equity Shares |
Rs.2/- each |
Rs.250.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
74087380 |
Equity Shares |
Rs.2/- each |
Rs.148.175
Millions |
NOTES:
|
Reconciliation of
shares outstanding |
31.03.2013 |
|
|
|
No. of Shares |
Rs. In Millions |
|
As at the beginning of the year |
74087380 |
148.175 |
|
As at the end of the year |
74087380 |
148.175 |
** The Company has sub-divided each Equity Share of the face value of Rs.10/ - each in to 5(Five) Equity Shares of the face value of Rs.2/- each during the financial year 2010/2011.
|
Other Information
as required under Schedule VI to the Companies Act 1956 |
31.03.2013 |
|
Held by each shareholder holding more than 5% of paid up shares. |
|
|
Avarsekar and Sons Private Limited |
21746500 |
|
Abhijit Avarsekar |
12243365 |
|
Kishore Avarsekar |
8163405 |
Terms / rights attached to equity shares
The Company has only one class of equity shares having a par value of Rs.2/- Per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
During the year ended March 31 2013 the amount of per share dividend recognised as distributions to equity shareholders was Re. 0.20 (Previous Year : Re. 1/-) In the event of liquidation of the company the holders of equity shares will be entitled to receive remaining assets of the company after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
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 |
148.175 |
148.175 |
148.175 |
|
(b) Reserves & Surplus |
8218.481 |
7310.150 |
6360.750 |
|
(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) |
8366.656 |
7458.325 |
6508.925 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
903.407 |
1656.629 |
2244.663 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
12.827 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
2.500 |
28.598 |
18.106 |
|
Total
Non-current Liabilities (3) |
905.907 |
1685.227 |
2275.596 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
9068.443 |
5763.126 |
4398.272 |
|
(b) Trade payables |
3063.231 |
3096.376 |
2798.050 |
|
(c) Other current liabilities |
3490.002 |
3274.383 |
3440.339 |
|
(d) Short-term provisions |
70.407 |
160.825 |
145.143 |
|
Total
Current Liabilities (4) |
15692.083 |
12294.710 |
10781.804 |
|
|
|
|
|
|
TOTAL |
24964.646 |
21438.262 |
19566.325 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1300.663 |
1314.238 |
1156.618 |
|
(ii) Intangible Assets |
30.543 |
4.039 |
2.024 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
111.461 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
605.120 |
505.025 |
623.035 |
|
(c) Deferred tax assets (net) |
2.734 |
17.834 |
0.000 |
|
(d) Long-term Loan and Advances |
2.686 |
1.186 |
0.926 |
|
(e) Other Non-current assets |
1834.168 |
2902.425 |
2268.141 |
|
Total
Non-Current Assets |
3775.914 |
4744.747 |
4162.205 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
37.932 |
37.933 |
55.839 |
|
(b) Inventories |
5398.738 |
1997.641 |
780.643 |
|
(c) Trade receivables |
8138.961 |
6762.625 |
6133.110 |
|
(d) Cash and cash equivalents |
1121.575 |
2179.128 |
1892.462 |
|
(e) Short-term loans and
advances |
6491.526 |
5716.188 |
6542.066 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
21188.732 |
16693.515 |
15404.120 |
|
|
|
|
|
|
TOTAL |
24964.646 |
21438.262 |
19566.325 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
20454.096 |
19755.778 |
17038.177 |
|
|
Other Income |
179.320 |
171.628 |
150.095 |
|
|
TOTAL
(A) |
20633.416 |
19927.406 |
17188.272 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
10196.955 |
9775.251 |
7904.110 |
|
|
Purchases of Stock-in-Trade |
6449.706 |
5745.363 |
5053.985 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(524.100) |
(139.052) |
344.991 |
|
|
Employees benefits expense |
666.604 |
614.839 |
587.015 |
|
|
Office and established
expenses |
872.602 |
1012.465 |
853.236 |
|
|
TOTAL
(B) |
17661.767 |
17008.866 |
14743.337 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
2971.649 |
2918.540 |
2444.935 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1527.508 |
1213.170 |
832.679 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1444.141 |
1705.370 |
1612.256 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
219.087 |
200.524 |
179.935 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
1225.054 |
1504.846 |
1432.321 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
299.502 |
469.339 |
488.843 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
925.552 |
1035.507 |
943.478 |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3960.995 |
3121.594 |
2360.500 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
100.000 |
110.000 |
96.000 |
|
|
Dividend |
14.817 |
74.087 |
74.100 |
|
|
Tax on Dividend |
2.404 |
12.019 |
12.300 |
|
|
Balance
Carried to the B/S |
4769.326 |
3960.995 |
3121.500 |
|
|
|
|
|
|
|
|
Raw Materials |
43.053 |
47.417 |
30.895 |
|
|
Components and Stores parts |
2.195 |
22.049 |
0.000 |
|
|
Capital Goods |
22.899 |
68.395 |
145.028 |
|
|
TOTAL
IMPORTS |
68.147 |
137.861 |
175.923 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
12.49 |
13.98 |
12.73 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.49 |
5.20 |
5.49 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.99 |
7.62 |
8.41 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.03 |
7.19 |
7.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.20 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.19 |
0.99 |
1.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35 |
1.36 |
1.43 |
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 |
148.175 |
148.175 |
148.175 |
|
Reserves & Surplus |
6360.750 |
7310.150 |
8218.481 |
|
Net
worth |
6508.925 |
7458.325 |
8366.656 |
|
|
|
|
|
|
long-term borrowings |
2244.663 |
1656.629 |
903.407 |
|
Short term borrowings |
4398.272 |
5763.126 |
9068.443 |
|
Total
borrowings |
6642.935 |
7419.755 |
9971.850 |
|
Debt/Equity
ratio |
1.021 |
0.995 |
1.192 |
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 |
17038.177 |
19755.778 |
20454.096 |
|
|
|
15.950 |
3.535 |
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 |
17038.177 |
19755.778 |
20454.096 |
|
Profit |
943.478 |
1035.507 |
925.552 |
|
|
5.54% |
5.24% |
4.53% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
|
|
|
|
Vehicles and Equipment’s loan |
80.792 |
150.166 |
190.604
|
|
Other loans |
1860.219 |
1484.830 |
1773.069
|
|
Total |
1941.011 |
1634.996 |
1963.673
|
|
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
LITIGATION DETAILS:
|
Case Details |
|
Bench:-Bombay |
|
Presentation Date:- 24/03/2014 |
|||
|
Lodging No.:- |
ARBPL/573/2014 |
Filing Date:- |
24/03/2014 |
|
Petitioner:- |
Bajaj Finance Limited |
Respondent:- |
Unity Infraprojects Limited |
|
Petn. Adv.:- |
Desai and Diwanji (814) |
Resp. Adv.:- |
Vidhii Partners (I755) |
|
District:- |
PUNE |
|
Bench:- |
SINGLE |
||
|
Status:- |
Pre-Admission |
Category:- |
ARBITRATION ACT. |
|
Last Date:- |
17/06/2014 |
Stage:- |
ARBP FOR HEARING AND FINAL DISPOSAL U/S 9 |
|
Last Coram:- |
HON'BLE SHRI JUSTICE R.D. DHANUKA |
|
Act :- |
Arbitration and Conciliation Act 1996 |
Under Section:- |
9 |
RESULTS OF OPERATIONS
Financial Year 2012-13 was a challenging year. The global economy barely a year after recession, witnessed lower economic growth. The European Economies stagnated and the US witnessed a downgrade in its credit rating, while the growth engines of a global economy, China and India were forced to tighten liquidity to tame rising inflation. In addition, civil unrest in Libya and tsunami in Japan posed further challenges. Despite these constraints and challenging environment, the Company performed well.
The company's strong order book and execution capabilities can be visualized by noticing an overall strong growth in terms of turnover and profitability. The highlights of the performance are as under:
· Revenue from operations increased by 3.4% to Rs. 20398.000 Millions
· PBDIT decreased by 2% to Rs. 2971.000 Millions
· Profit Before Tax dipped by 22.8% to Rs. 1225.000 Millions
· Net Profit increased by 9.76% to Rs.925.000 Millions
MANAGEMENT DISCUSSION
AND ANALYSIS
Industry structure and development Infrastructure development has a key role to play in both economic growth and poverty reduction and more so in case of a fast growing developing country like India. Infrastructure spending has witnessed a sharp acceleration over the past few years, with most of the segments of the economy constrained in terms of capacity availability.
Infrastructure development is driven by increased economic growth across the country, enhanced government focus to facilitate investment in infrastructure, funding from multi-lateral agencies and increased private participation. The Construction sector happen to be the biggest beneficiary of the infrastructure boom as more than 50% of infrastructure spending flows through the sector.
Order inflows for the construction and infrastructure sector have remained subdued since past two three years due to issues related to policy decisions, delays in environmental clearance and land acquisition. Steep increase in interest rates coupled with lack of fund raising by the companies also deteriorated the balance sheet of companies.
However, it is quite apparent that in order to achieve sustainable healthy GDP growth, a proportionate increase in infrastructure investment is required. Land acquisition and environment clearance are the two major bottlenecks hampering timely execution of projects. Hence, roll out of policies to expedite these procedures would lend a fillip to the sector.
Without any dichotomy – the future growth prospects of the Indian economy lingers primarily on the infrastructure investment and timely execution of the projects.
The Construction industry of India is an important indicator of the development as it creates investment opportunities across various related sectors. The construction industry has contributed an estimated Rs.6707780.000 Millions to the national GDP in 2011-12 (a share of around 8%).
The industry is fragmented, with a handful of major companies involved in the construction activities across all segments; medium sized companies specializing in niche activities; and small and medium contractors who work on the subcontractor basis and carry out the work in the field. The sector is labor-intensive and, including indirect jobs, provides employment to more than 35 million people.
OUTLOOK
The long term outlook for the business of the Company looks positive and ever growing. The Management is fairly confident of enhancing operational performance and profitability in the full financial year. Going forward, we expect continuing strong growth momentum. They will remain focused on their existing strategy and will continue to strive towards accelerated execution. They will also be cognizant of new business opportunities in adjacent business vertical like telecom infrastructure and power sector.
UNSECURED LOAN
|
PARTICULARS |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Term loan from bank |
0.000 |
38.166 |
|
Loans and advances from related parties |
129.472 |
196.689 |
|
TOTAL
|
129.472 |
234.855 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10481544 |
26/02/2014 |
750,000,000.00 |
ABHYUDAYA CO-OPERATIVE BANK LIMITED |
ADMINISTRATIVE
OFFICE, K. K. TOWER, ABHYUDAYA BANK, LANE, OFF. G. D. AMBEKAR MARG, PAREL
VILLAGE, |
B98052483 |
|
2 |
10461260 |
01/10/2013 |
2,265,685.00 |
SREI EQUIPMENT FINANCE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B89968804 |
|
3 |
10458869 |
14/09/2013 |
87,186,500.00 |
SREI EQUIPMENT FINANCE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B89020887 |
|
4 |
10458866 |
14/09/2013 |
102,572,000.00 |
SREI EQUIPMENT FINANCE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B89020051 |
|
5 |
10458867 |
14/09/2013 |
102,572,000.00 |
SREI EQUIPMENT FINANCE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B89020374 |
|
6 |
10448530 |
14/09/2013 |
1,000,000,000.00 |
ALLAHABAD BANK |
2, N. S. ROAD, CALCUTTA, WEST BENGAL - 700001, INDIA |
B84774769 |
|
7 |
10426301 |
04/05/2013 |
500,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL
SERVICES BRANCH, 4TH FLOOR,10/12,MUMBAI SAMACHAR MARG,FORT, MUMBAI,
MAHARASHTRA |
B75335182 |
|
8 |
10415544 |
12/03/2013 |
2,000,000,000.00 |
ALLAHABAD BANK |
2, N. S. ROAD, CALCUTTA, WEST BENGAL - 700001, INDIA |
B71955751 |
|
9 |
10411405 |
25/02/2013 |
600,000,000.00 |
UCO BANK |
FLAGSHIP CORPORATE BRANCH, MAFATLAL CENTRE ,NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B70645809 |
|
10 |
10407256 |
25/02/2013 |
1,500,000,000.00 |
CENTRAL BANK OF INDIA |
CORPORATE FINANCE
BRANCH, CHANDER MUKHI, GROUND |
B69267789 |
* Date of charge modification
AUDITED FINANCIAL RESULTS
FOR THE FINANCIAL YEAR ENDED MARCH 31, 2014
(Rs. in millions)
|
Sr. No. |
Particular |
Quarter Ended |
Year Ended |
|
|
|
|
31.03.2014 |
31.12.2013 |
31.03.2014 |
|
|
|
Audited |
Unaudited |
Audited |
|
1. |
Income from operations |
|
|
|
|
|
Net Sales/Income
from Operations |
5107.641 |
5183.593 |
18519.083 |
|
|
Other Operating
Income |
244.396 |
104.607 |
435.962 |
|
|
Total Income From Operations (Net) |
5352.037 |
5288.200 |
18955.045 |
|
|
|
|
|
|
|
2. |
Expenditure |
|
|
|
|
|
Cost
of materials consumed |
2767.617 |
2301.900 |
8918.709 |
|
|
Construction
expenses |
1806.049 |
1868.119 |
6325.398 |
|
|
Changes
in inventories of finished goods, work in progress and stock in trade |
(38.465) |
118.400 |
(78.300) |
|
|
Employee
benefits expenses |
110.847 |
154.765 |
584.839 |
|
|
Depreciation
and amortization expenses |
49.031 |
49.953 |
196.664 |
|
|
Other
expenses |
271.872 |
189.009 |
869.884 |
|
|
Total Expenses |
4966.952 |
4682.146 |
16817.194 |
|
|
|
|
|
|
|
3. |
Profit
From Operations before Other Income, Interest and Exceptional Items (1-2) |
385.084 |
606.054 |
2137.850 |
|
|
|
|
|
|
|
4. |
Other
Income |
60.829 |
37.005 |
157.463 |
|
|
|
|
|
|
|
5. |
Profit
Before Interest and Exceptional Items (3+4) |
445.914 |
643.059 |
2295.314 |
|
|
|
|
|
|
|
6. |
Interest |
795.645 |
598.972 |
2276.504 |
|
|
|
|
|
|
|
7. |
Profit
After Interest but before Exceptional Items (5-6) |
(349.731) |
44.087 |
18.810 |
|
|
|
|
|
|
|
8. |
Exceptional
Items |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
9. |
Profit
from Ordinary Activities before Tax (7-8) |
(349.731) |
44.087 |
18.810 |
|
|
|
|
|
|
|
10. |
Tax Expense |
|
|
|
|
|
a)
Provision For Current tax |
(104.100) |
23.500 |
10.000 |
|
|
b)
Provision For Deferred tax |
(55.166) |
0.000 |
(54.648) |
|
|
c)
Tax of Earlier Years |
0.000 |
0.000 |
0.000 |
|
|
Total |
(159.266) |
23.500 |
(44.648) |
|
|
|
|
|
|
|
11. |
Net
Profit from Ordinary Activities after Tax (5-6+10) |
(190.465) |
20.587 |
63.458 |
|
|
|
|
|
|
|
12. |
Less:
Minority Interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
13. |
Net
Profit for the period (11-12) |
(190.465) |
20.587 |
63.458 |
|
|
|
|
|
|
|
14. |
Paid-up
Equity Share Capital (Face Value of Rs.2/- each) |
148.174 |
148.174 |
148.174 |
|
|
|
|
|
|
|
15. |
Reserves
Excluding Revaluation Reserve |
-- |
-- |
- |
|
|
|
|
|
|
|
16. |
Earning Per Share (EPS) –
Weighted Average Basic and Diluted (Rs.)-Not Annualized |
0.00 |
3.78 |
0.00 |
|
|
|
|
|
|
|
17. |
Public Shareholding |
|
|
|
|
|
-Number
of Shares |
27622880 |
27622880 |
27622880 |
|
|
-
Percentage of Shareholding |
37.29% |
37.29% |
37.29% |
|
|
|
|
|
|
|
18. |
Promoters and Promoter Group
Shareholding |
|
|
|
|
|
a) Pledged/Encumbered |
|
|
|
|
|
-
Number of Shares |
0 |
0 |
0 |
|
|
-
Percentage of Shares (as a % of the Total Shareholding of promoter and promoter
group) |
0 |
0 |
0 |
|
|
-
Percentage of Shares (as a % of the Total Share Capital of the Company) |
0 |
0 |
0 |
|
|
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
|
-
Number of Shares |
46464500 |
|
|
|
|
- Percentage
of Shares (as a % of the Total Shareholding of Promoter and Promoter Group) |
0% |
|
|
|
|
-
Percentage of Shares (as a % of the Total Share Capital of the Company) |
0.00% |
|
|
Notes:
1. The above results were reviewed by the Audit Committee and thereafter
taken on record by the board of directors at their meeting held on 29th
May, 2014.
2. The company has a single segment namely “Engineering and Construction”.
Therefore the company’s business does not fall under different business
segments as defined by AS-17 “Segment Reporting” as notified.
3. In terms of amended clause 41 of the listing agreement, the investor
complaints received and disposed off during the quarter ended March 31, 2014
are as under:
|
Complaints pending at the beginning of the
quarter |
0 |
|
Complaint received during the quarter |
3 |
|
Complaints disposed during the quarter |
3 |
|
Complaints lying unresolved at the end of
the quarter |
0 |
5. Previous year figures have been
re-grouped/re-classified wherever necessary.
STATEMENT OF ASSETS AND
LIABILITIES
(Rs. in millions)
|
PARTICULARS |
31.03.2014 (Audited) |
|
Equity and liabilities |
|
|
Shareholders' fund |
|
|
Share capital |
148.175 |
|
Reserve & surplus |
8281.939 |
|
Sub-total
- Shareholders' funds |
8430.114 |
|
Non - current liabilities |
|
|
Long term borrowings |
4473.720 |
|
Long term provisions |
44.466 |
|
Sub-total
- Non-current liabilities |
4518.186 |
|
Current liabilities |
|
|
Short term borrowings |
10279.980 |
|
Trade payables |
4106.494 |
|
Other current liabilities |
5985.355 |
|
Short term provisions |
9.010 |
|
Sub-total
- Current liabilities |
20380.839 |
|
|
|
|
Total -
Equity & Liabilities |
33329.139 |
|
|
|
|
Assets |
|
|
Non-current assets |
|
|
Fixed
assets |
|
|
Tangible assets |
1141.475 |
|
Intangible assets |
27.683 |
|
Non-current investment |
1380.301 |
|
Deferred tax assets (net) |
57.382 |
|
Long term loans & advances |
5451.078 |
|
Other non-current assets |
6039.006 |
|
Sub-total
- Non-current Assets |
14096.925 |
|
Current
assets |
|
|
Current investments |
0.000 |
|
Inventories |
3986.598 |
|
Trade receivables |
9883.582 |
|
Cash & bank balances |
1260.198 |
|
Short term loans & advances |
4101.836 |
|
Sub-total
- Current Assets |
19232.214 |
|
|
|
|
Total –
Assets |
33329.139 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2013 [Rs. in millions] |
31.03.2012 [Rs. in millions] |
|
Claims against the company not acknowledged as debt (income tax
matters) |
186.753 |
232.749 |
|
Guarantees |
3767.483 |
6778.202 |
|
Letter of credit |
252.016 |
367.077 |
|
TOTAL |
4206.252 |
7378.028 |
FIXED ASSETS:
- Land and Building
- Plant and Machinery
- Furniture and Fixtures
- Office Equipments
- Computers
- Software
- Vehicles
WEBISTE DETAILS:
PRESS RELEASES/ ARTICLES:
UNITY INFRAPROJECTS
BAGGED TWO PROJECTS WORTH RS. 3644.200 Millions
February 13, 2014
New Delhi: Unity Infraprojects Limited (BSE: 532746), one of India’s major civil contracting firms, has bagged two projects worth Rs 3644.200 Millions from MCGM and NTPC.
The first project has been awarded is for a township package for Kudgi Super Thermal Power Project, Stage I (3x800MV) by NTPC Limited, valued at Rs. 2485.800 Millions, which is to be completed within a period of 24 months.
The second order worth Rs.1158.400 Millions is from Dy. Chief Engineer (Storm Water Drains), Pl. Cell, Municipal Corporation of Greater Mumbai (M.C.G.M) for Design, Planning and Construction including supply, Delivery, Erection, Commissioning of mechanical, electrical, instrumentation and automation works and comprehensive operation and maintenance of Storm Water Pumping Stations (SWPS) at Britannia Outfall, Reti Bunder Bay, Reay Road, Mumbai.
Abhijit K. Avarsekar, Vice Chairman and Managing Director, Unity Infraprojects Limited., said, “We received two orders amounting Rs. 3644.200 Millions in the fourth financial quarter so far. We are privileged on receiving order repeats from MCGM and NTPC. It symbolises the trust these clients have on us. This is a platform to showcase our skills and quality in operations and we are very much confident to accomplish these projects within the given time-frame.”
About Unity Infraprojects Limited
Unity Infraprojects Limited. provides integrated engineering, procurement and construction services for civil construction and infrastructure sector projects. Besides civil construction, the company’s project expertise includes transportation engineering, irrigation, water supply and urban infrastructure projects. Unity is the flagship unit of the Mumbai based KK Group of Companies which has interests across a wide spectrum of businesses such as concrete block manufacturing and quarrying, hospitality and organized retailing industries.
With an established presence in engineering, irrigation and transportation, Unity is successfully diversifying its business model. Some of the landmark projects done by Unity are Expansion and Modification at Chhatrapati Shivaji International Airport, Mumbai; Millennium Business Park in Navi Mumbai; Mass Housing Projects for DDA in Delhi; New Secretariat Complex in Assam; Tsunami Re-construction Project in Andaman and Nicobar Islands; Jupiter Mills in Mumbai; Nizam Institute of Medical Science in Hyderabad; High Court in Karnataka.
Unity also has presence in real estate and BOT space. The company is ISO 9001-2008, ISO 14001-2004 and OHSAS 18001-2007 certified and has a market capitalization of Rs. 1511.500 Millions.; and is listed in BSE and NSE.
UNITY INFRA IN TALKS
WITH DEVELOPERS TO SELL MUMBAI LAND
June 10, 2014
Mumbai-based Unity Infraprojects is looking to sell 0.5 million sq ft plot in Parel area of Mumbai, said sources in the know.
The company is looking at a valuation of Rs 3500.000 Millions and already in talks with several top developers such as Tata Housing, Peninsula Land, Godrej Properties among others, source said.
"The company is open to jointly developing the land or outright sale," sources said. The company could not be contacted for comments.
REALTY, INFRA SHARES
RALLY ON HEAVY VOLUMES
Unity Infra, Lanco Infra, IL and FS Engg, Unitech,
Oberoi Realty, HDIL and Kolte Patil have rallied more than 10% each.
May 20, 2014
Real estate and infrastructure companies have rallied by up to 20% on the back of heavy volumes on expectations of change in policy environment.
Unity Infrasprojects, Lanco Infratech, IL and FS
Engineering and Constructions, Unitech, Oberoi Realty, Housing Development and Infrastructure (HDIL), Ansal
Properties, Man Infraconstructions and Kolte Patil Developers have rallied more
than 10% each on the Bombay Stock Exchange (BSE).
The S and P BSE Realty index, a gauge for real
estate companies, the largest gainer among sectoral indices, has rallied 5.1%
compared to a 0.50% rise in benchmark SandP BSE Sensex at 1000 hours.
With election of majority government, investors
are pinning hopes that the new government will not suffer from the coalition
constraints.
“We are hopeful that the new Government will
take immediate steps to unlock the policy logjam and concentrate on reviving
the economy as well as the investor confidence,” says Kishor P Ostwal, CMD, CNI
Research.
Among individual stocks, Lanco Infratech is
locked at the upper circuit for the second day in a row, up 20% at Rs11.84. A
combined 31.08 million shares already changed hands on the counter and there
are pending buy orders for 2.41 million shares on the NSE and BSE.
Unitech has surged 15% to Rs.26.35, followed by
Oberoi Realty (14% at Rs.253), D B Realty (11% at Rs.75) and HDIL and IVRCL are
up 10% each at Rs.96.80 and Rs.26.55 respectively.
UNITY INFRA GAINS ON
WINNING ROAD CONTRACT
The road project is
for the construction of major roads in Solapur city by Solapur Municipal
Corporation.
January 31, 2013
Unity Infraprojects is trading higher by 4% at Rs 40.80 on NSE after the construction and engineering company said that it has received an order worth of Rs 2350.000 Millions for road project in Maharashtra.
“The company has been awarded Rs 2350.000 Millions project in Maharashtra for the construction of major roads in Solapurcity by Solapur Municipal Corporation,” Unity Infraprojects said in a statement.
The project involves construction/improvement of major roads in Solapur city under the scheme of Maharashtra Suvarna Jayanti Nagarotthan Mahaabhiyan Yojana Road Project, Phase –I and has a construction period of 18 months, it added.
The stock opened at Rs.40.50 and has seen a combined around 25,000 shares changing hands on the counter in opening deals on both the exchanges.
UNITY INFRA AIMS 25%
REVENUE FROM OVERSEAS BY FY15
April 11, 2012
To ensure better rate of return and higher margin, Unity Infraprojects is looking to generate up to 25% of its targeted Rs 50000.000 Millions revenue by FY15 from overseas markets.
"We are looking for opportunities outside India in a big way. We intend to go to countries like Sri Lanka, South Africa and Gulf nations like Saudi Arabia with our areas of strength like building real estate and road construction," company's Chief Financial Officer Madhav Nadkarni told PTI.
Unity Infraprojects has a small presence in Nepal and Bangladesh which contributes little to its around Rs.20000.000 Millions topline recorded last fiscal. However, it is hopeful of taking the overseas contribution to its revenue to 25% in the next three years.
"We had recorded Rs.10710.000 Millions sales in FY11 and aim to clock Rs.50000.000 Millions revenue by FY15. I hope around 25% in that will come from our overseas operations," Nadkarni said.
Despite huge opportunities within the country, Unity intends to go beyond India to ensure better rate of returns and higher margin. Opportunities in foreign countries is an additional incentive.
India plans to almost double its investment to spruce up its beleaguered infrastructure in current Plan period ending March, 2017 to $1 trillion.
Nadkarni said the company is
sitting on a Rs.47720.000 Millions order
book, including Rs.32000.000 Millions bagged
in FY12.
"We hope to secure orders worth around
Rs.50000.000 Millions in the current
fiscal. Around 35% of that is likely to come from the water segment, 25% from
the roads sector and the remaining for developing building and factories,"
he said.
Nadkarni said the company plans to spend
Rs.1000.000 Millions on capex in the
current fiscal, but has no immediate plans to raise funds.
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 records 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.60.00 |
|
|
1 |
Rs.102.05 |
|
Euro |
1 |
Rs.81.71 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.