MIRA INFORM REPORT
|
Report Date : |
23.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
OPC ASSET SOLUTIONS PRIVATE LIMITED (w.e.f 16.01.2009) |
|
|
|
|
Formerly Known
As : |
ONE POINT CONTACT SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
D-16, 2nd Floor, Nelson Chambers, 115 Nelson Manickam Road,
Aminjikarai, Chennai – 600029, Tamilnadu, India |
|
|
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|
Country : |
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|
Financials (as
on) : |
31.03.2013 |
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|
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|
Date of
Incorporation : |
13.06.2005 |
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|
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|
Com. Reg. No.: |
18-056584 |
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|
Capital
Investment/ Paid-up Capital: |
Rs.23.515
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900TN2005PTC056584 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEO03392E |
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|
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PAN No.: [Permanent Account No.] |
AAACO7555K |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The company is engaged in the business of Asset Life Cycle Management
(ALCM) and as part of ALCM acquires and deals in residuary interest in assets
rented to the customers by the company. |
|
|
|
|
No. of
Employees: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Trade relation are fair. Business is active. Payment terms are
reported to be usually correct. The company 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.
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.
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. Sandeep |
|
Designation : |
Chief Executive Office |
|
Contact No.: |
91-9819888908 |
|
Date : |
20.06.2014 |
LOCATIONS
|
Registered Office : |
D-16, 2nd Floor, Nelson Chambers, 115 Nelson Manickam Road,
Aminjikarai, Chennai – 600029, Tamilnadu, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9819888908 (Mr. Sandeep) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
Mumbai, Maharashtra, India |
DIRECTORS
As on 31.12.2013
|
Name : |
Mr. Venkatesan Rajagopalan |
|
Designation : |
Managing Director |
|
Address : |
Flat No.407, 408, 409, 4th Floor, Samartha Aangan-21, Inderdarshan
Complex, Lokhandwala, Andheri (West), Mumbai – 400 053, |
|
Date of Birth/Age : |
22.05.1968 |
|
Qualification : |
Chartered Accountant |
|
Experience : |
22 Years |
|
Date of Appointment : |
30.05.2011 |
|
DIN No : |
00646225 |
|
|
|
|
Name : |
Mr. Parag Ranjit Kapasi |
|
Designation : |
Director |
|
Address : |
1203, Everest Apartment, |
|
Date of Birth/Age : |
28.03.1975 |
|
Qualification : |
MBA |
|
Experience : |
16 Years |
|
Date of Appointment : |
30.09.2011 |
|
DIN No : |
03556361 |
|
|
|
|
Name : |
Mr. Venkatakrishnan Nagarajan |
|
Designation : |
Director |
|
Address : |
No.7 (Old No.4), 2nd |
|
Date of Birth/Age : |
03.03.1957 |
|
Date of Appointment : |
30.09.2008 |
|
DIN No : |
00042047 |
KEY EXECUTIVES
|
Name : |
Mr. Sandeep |
|
Designation : |
Chief Executive Office |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2013
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Winvest Holdings ( |
|
1598099 |
|
Winvest Holdings ( |
|
1 |
|
Sandeep Divakarn |
|
75650 |
|
R. Venkatesan |
|
113470 |
|
Parag Kapasi |
|
94560 |
|
Total |
|
1881780 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Crispat |
|
469700 |
|
Total |
|
469700 |
Equity Share Break up (Percentage of Total Equity)
As on 31.12.2013
|
Category |
Percentage |
|
Bodies corporate |
84.92 |
|
Directors or relatives of Directors |
11.06 |
|
Other top fifty shareholders |
4.02 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of Asset Life Cycle Management (ALCM)
and as part of ALCM acquires and deals in residuary interest in assets rented
to the customers by the company. |
||||
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|
||||
|
Products/ Services : |
v Asset planning and strategic advisory services v Equipment sourcing and procurement assistance v Physical inventory and auditing v Onsite moves and redeployment v Hardware upgrades v Refurbishment Environmentally-friendly computer disposal |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Induslnd Bank Limited, 2401, Gen thimmayya Road, Cantonment, Pune –
411 001, |
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|
|
|
Banking
Relations : |
|
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|
|
|
Financial Institute: |
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|
|
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|
Auditors : |
|
|
Name : |
PKF Sridhar and Santhanam Chartered Accountants |
|
Address : |
“KRD Gee Gee |
|
Tel. No.: |
91-44-28112985-88 |
|
Fax No.: |
91-44-28112989 |
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E-Mail : |
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|
Website : |
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|
Income-tax PAN
of auditor or auditor’s firm : |
AAOFS2783G |
|
|
|
|
Holding Company : |
Winvest Holdings
Private Limited CIN No.: U65993TN2008PTC066061 |
|
|
|
|
Fellow Subsidiary : |
Prizm Payment Services Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 millions |
|
500000 |
0.001% Compulsorily Convertible Preference
Shares |
Rs.10/- each |
Rs.5.000 millions |
|
|
Total |
|
Rs.25.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1881780 |
Equity Shares [Out of the above 1598100 shares are held by Windwest Holdings ( |
Rs.10/- each |
Rs.18.818
millions |
|
469700 |
0.001% Compulsorily Convertible Preference
Shares |
Rs.10/- each |
Rs.4.697
millions |
|
|
Total |
|
Rs.23.515 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 |
23.515 |
23.515 |
23.515 |
|
(b) Reserves & Surplus |
551.510 |
295.211 |
92.390 |
|
(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) |
575.025 |
318.726 |
115.905 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
1793.765 |
1778.596 |
1331.390 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
1793.765 |
1778.596 |
1331.390 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
282.091 |
217.595 |
129.500 |
|
(c) Other current liabilities |
692.433 |
397.293 |
378.461 |
|
(d) Short-term provisions |
33.682 |
27.509 |
20.900 |
|
Total
Current Liabilities (4) |
1008.206 |
642.397 |
528.861 |
|
|
|
|
|
|
TOTAL |
3376.996 |
2739.719 |
1976.156 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2.034 |
2.739 |
4.706 |
|
(ii) Intangible Assets |
0.641 |
0.778 |
0.780 |
|
(iii) Capital work-in-progress |
3.479 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1749.954 |
1593.302 |
927.639 |
|
(c) Deferred tax assets (net) |
1.394 |
1.707 |
1.243 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
478.531 |
404.762 |
4.223 |
|
Total
Non-Current Assets |
2236.033 |
2003.288 |
938.591 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
420.106 |
157.002 |
82.179 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
119.553 |
70.549 |
37.650 |
|
(d) Cash and cash equivalents |
598.975 |
505.612 |
594.481 |
|
(e) Short-term loans and
advances |
1.269 |
1.677 |
319.472 |
|
(f) Other current assets |
1.060 |
1.591 |
3.783 |
|
Total
Current Assets |
1140.963 |
736.431 |
1037.565 |
|
|
|
|
|
|
TOTAL |
3376.996 |
2739.719 |
1976.156 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
535.800 |
450.600 |
|
|
|
|
Other Income |
NA |
NA |
|
|
|
|
TOTAL |
NA |
NA |
314.112 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
NA |
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
182.837 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
NA |
131.275 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
44.986 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
255.294 |
202.822 |
86.289 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Release of Security Deposit |
NA |
1.285 |
0.000 |
|
|
TOTAL EARNINGS |
NA |
1.285 |
0.000 |
|
|
|
|
|
|
|
|
|
|
CIF value of
import |
1.067 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.11 |
107.78 |
49.15 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA |
NA |
27.47 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
NA |
12.53 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
NA |
1.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13 |
1.15 |
1.96 |
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 |
23.515 |
23.515 |
23.515 |
|
Reserves & Surplus |
92.390 |
295.211 |
551.510 |
|
Net
worth |
115.905 |
318.726 |
575.025 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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) |
|
Turnover |
314.112 |
450.600 |
535.800 |
|
|
|
43.452 |
18.908 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Turnover |
314.112 |
450.600 |
535.800 |
|
Profit |
86.289 |
202.822 |
255.294 |
|
|
27.47% |
45.01% |
47.65% |
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 |
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 |
-- |
|
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 |
FINANCIAL RESULTS
The operations of the Company for the year ended March 31, 2013 has resulted in a profit after tax of Rs. 255.294 millions.
PERFORMANCE AND
PROSPECTS FOR THE CURRENT YEAR
The company has achieved a turnover of Rs. 535.800 Millions during the year under report as against Rs 450.600 Millions during the previous year, representing growth of 19 %. The PAT during the year was Rs. 255.200 Millions as against Rs. 202.800 Millions in the previous year, registering an increase of 26 %.
The business of the company has diversified both geographically in India and across various sectors of the Industry. The company has established itself over the years as a pan India Player by maintaining excellent business relationship with various partners and stake holders. The company has robust back office system and best risk management practices to pursue the accelerated growth path charted for ensuing years.
COMPANY BACKGROUND
AND OPERATIONS
The Company was
originally incorporated as One Point Contact Services Private Limited on 13th
June, 2005 and the name change was effective from 16th January 2009
with the issue of a fresh Certificate of Incorporation. The Company is a
subsidiary of Winvest Holdings India Private Limited.
The Company is
engaged in the business of Asset Life Cycle Management (ALCM) and as part of
ALCM acquires and deals in residuary interest in assets rented to the customers
by the company. As the Company is engaged in the business of ALCM, and has only
a residuary interest in assets which is in the nature of investments, it is not
entitled to claim depreciation. The company has insurable interest in assets to
protect its residuary investment in assets.
The company enters
into rental agreements with customers (Renters) who take assets on rent for a
mutually agreed period. The renter enjoys quiet possession of the rented asset
till the end of the rental period except in the event of a default. The asset
is invoiced by the supplier to the company and delivered to the renter.
The receivables
under the rental schedule are sold to a funder who makes the payment against
the right to receive future rentals. The funder has no recourse to the Company
and can only enforce his dues against the renter. The company pays the supplier
from the payment received from the funder and deploys its own resources for
balance amount to meet the cost of the asset. Customer remits the rentals into
an escrow account to the funder. At the end of the rental period, the asset
reverts to the Company and it has the right to deal with the assets in any way
as it deems fit.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10503746 |
22/05/2014 |
857,206.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI, MAHARASHTRA - 400710, INDIA |
C06861025 |
|
2 |
10503748 |
22/05/2014 |
991,481.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI, MAHARASHTRA - 400710, INDIA |
C06860290 |
|
3 |
10503745 |
22/05/2014 |
3,283,000.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI, MAHARASHTRA - 400710, INDIA |
C06862403 |
|
4 |
10503754 |
21/05/2014 |
3,543,627.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI, MAHARASHTRA - 400710, INDIA |
C07045057 |
|
5 |
10502952 |
20/05/2014 |
15,845,095.00 |
INDUSIND BANK LIMITED |
2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, MAHARASHTRA - 411001, INDIA |
C06548895 |
|
6 |
10502339 |
15/05/2014 |
178,845,513.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI, MAHARASHTRA - 400710, INDIA |
C06200992 |
|
7 |
10496884 |
06/05/2014 |
5,200,558.00 |
L AND T FINANCE LIMITED |
L AND T HOUSE,
BALLARD ESTATE, MUMBAI, MAHARASHTRA |
C05256789 |
|
8 |
10502951 |
30/04/2014 |
293,579,884.00 |
L AND T FINANCE LIMITED |
L AND T HOUSE,
BALLARD ESTATE, MUMBAI, MAHARASHTRA |
C06551667 |
|
9 |
10502536 |
04/04/2014 |
33,854,216.00 |
L AND T FINANCE LIMITED |
L AND T HOUSE,
BALLARD ESTATE, MUMBAI, MAHARASHTRA |
C06201511 |
|
10 |
10502954 |
20/03/2014 |
108,243,168.00 |
L AND T FINANCE LIMITED |
L AND T HOUSE,
BALLARD ESTATE, MUMBAI, MAHARASHTRA |
C06549281 |
CONTINGENT
LIABILITIES
|
Particulars |
As
on 31.03.2013 (Rs.
in millions) |
As
on 31.03.2012 (Rs.
in millions) |
|
Estimated amount of contracts remaining to be executed on capital
account and not provided for |
Nil |
Nil |
|
Counter guarantees given to be Bank for guarantees issued |
0.985 |
0.985 |
FIXED ASSETS:
Tangible Assets
v Computers
v Office Equipments
v Plant and Machinery
v Furniture and Fittings
v Vehicles
Intangible Assets
v Software
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.60.28 |
|
|
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.82.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
46 |
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.