MIRA INFORM REPORT
|
Report Date : |
25.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
GHARPURE
ENGINEERING AND CONSTRUCTIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.35/1, D-II Block,
M.I.D.C., Chinchwad, Pune – 411 019, Maharashtra |
|
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|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
29.03.2000 |
|
|
|
|
Com. Reg. No.: |
11-014685 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.164.081
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70200PN2000PTC014685 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEG01230F |
|
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|
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PAN No.: [Permanent Account No.] |
AABCG3506F |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the
business of design, development and operation of urban infrastructure project
like Sewage Treatment Plants (STP), Water Treatment Plants (WTP), Water
Supply Pipelines, Pumping Stations, Sewerage Pipeline Networks, etc.
including civil, electro-mechanical works. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an
established company having satisfactory track record. The rating
reflects healthy financial risk profile marked by fair profitability levels and
sound liquidity position of the company. Trade relations
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 condition. |
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 |
Long Term Bank Facilities: BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
December 27, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities: A3 |
|
Rating Explanation |
Moderate degree of safety and high credit risk. |
|
Date |
December 27, 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 DECLINED
Management non-cooperative
(Tel. No.: 91-20-27472726)
LOCATIONS
|
Registered Office : |
Plot No.35/1, D-II Block,
M.I.D.C., Chinchwad, Pune – 411 019, Maharashtra, India |
|
Tel. No.: |
91-20-27472726 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 11.09.2013
|
Name : |
Mr. Suresh Narhar Gharpure |
|
Designation : |
Managing Director |
|
Address : |
Tridal, Shridhar Nagar, Chainchwad, Pune – 411 033, Maharashtra, India
|
|
Date of Birth/Age : |
27.10.1946 |
|
Date of Appointment : |
29.03.2000 |
|
DIN No.: |
00056186 |
|
PAN No.: |
AAXPG9833C |
|
|
|
|
Name : |
Mr. Arun Chandrasen Ashar |
|
Designation : |
Director |
|
Address : |
Muktangan, 10th Floor, Sarojini Road, Santacruz (West),
Mumbai – 400 054, Maharashtra, India |
|
Date of Birth/Age : |
29.07.1948 |
|
Date of Appointment : |
18.04.2008 |
|
DIN No.: |
00192088 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 11.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Suresh Narhar Gharpure |
328202 |
20.00 |
|
Tatva Global Environment Limited, India |
1312608 |
80.00 |
|
Total
|
1640810 |
100.00 |
AS ON 11.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
80.00 |
|
Directors
or relatives of directors |
|
20.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the
business of design, development and operation of urban infrastructure project
like Sewage Treatment Plants (STP), Water Treatment Plants (WTP), Water
Supply Pipelines, Pumping Stations, Sewerage Pipeline Networks, etc.
including civil, electro-mechanical works. |
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Products/ Services : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management. |
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Bankers : |
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Facilities : |
Note on term Loan: A)
Security Coverage B)
Repayment Terms (Rs. in millions)
*
Disclosed as Other current liabilities |
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Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
T.R.
Chadha and Company Chartered Accountants |
|
Address : |
Ground Floor, Building
Smruti, M.V. Parloskar Marg, Near Hanuman Cross Road, Vile Parle (East),
Mumbai – 400 057, Maharashtra, India |
|
PAN No.: |
AAAFT1655Q |
|
|
|
|
Holding Company: |
Tatva Global Environment
Limited, India (CIN No.: U90002GJ2004PLC044094) |
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|
|
|
Ultimate Holding Company: |
Esthetic Finvest Private
Limited, India (CIN No.: U65994MH1991PTC063887) |
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|
|
|
Associates: |
UPL Environmental
Engineers Limited, India (CIN No.: U74210GJ2002PLC040908) |
CAPITAL STRUCTURE
AS ON 11.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2500000 |
Equity Shares |
Rs.100/- each |
Rs.250.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1640810 |
Equity Shares |
Rs.100/-
each |
Rs.164.081
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 |
164.081 |
142.701 |
142.701 |
|
(b) Reserves & Surplus |
286.037 |
222.757 |
209.520 |
|
(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) |
450.118 |
365.458 |
352.221 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.969 |
0.000 |
1.263 |
|
(b) Deferred tax liabilities (Net) |
2.828 |
3.291 |
2.602 |
|
(c)
Other long term liabilities |
247.072 |
102.494 |
338.913 |
|
(d)
Long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
250.869 |
105.785 |
342.778 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
226.526 |
348.454 |
291.322 |
|
(b)
Trade payables |
538.582 |
252.929 |
183.459 |
|
(c)
Other current liabilities |
115.122 |
63.418 |
25.856 |
|
(d)
Short-term provisions |
11.497 |
46.452 |
3.825 |
|
Total
Current Liabilities (4) |
891.727 |
711.253 |
504.462 |
|
|
|
|
|
|
TOTAL |
1592.714 |
1182.496 |
1199.461 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
49.869 |
46.580 |
53.042 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
5.265 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
257.113 |
255.115 |
374.790 |
|
(e)
Other Non-current assets |
370.956 |
190.954 |
0.000 |
|
Total
Non-Current Assets |
677.938 |
492.649 |
433.097 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
87.372 |
139.346 |
258.771 |
|
(c)
Trade receivables |
286.076 |
228.280 |
231.109 |
|
(d)
Cash and cash equivalents |
291.474 |
162.846 |
182.809 |
|
(e)
Short-term loans and advances |
130.851 |
134.269 |
91.820 |
|
(f)
Other current assets |
119.003 |
25.106 |
1.855 |
|
Total
Current Assets |
914.776 |
689.847 |
766.364 |
|
|
|
|
|
|
TOTAL |
1592.714 |
1182.496 |
1199.461 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Receipts |
2082.100 |
1613.320 |
1507.634 |
|
|
|
Other Income |
21.145 |
34.234 |
12.522 |
|
|
|
TOTAL |
2103.245 |
1647.554 |
1520.156 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
1932.875 |
1487.218 |
1376.252 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1932.875 |
1487.218 |
1376.252 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
170.370 |
160.336 |
143.904 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES & DEPRECIATION/ AMORTISATION |
63.180 |
53.722 |
39.902 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX AND EXCEPTIONAL ITEMS |
107.190 |
106.614 |
104.002 |
|
|
|
|
|
|
|
|
|
|
TAX |
20.982 |
21.932 |
21.008 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX BUT BEFORE EXCEPTIONAL ITEMS |
86.204 |
84.682 |
83.008 |
|
|
|
|
|
|
|
|
|
|
EXCEPTIONAL ITEM-TAX PROVISION FOR EARLIER
YEARS |
22.924 |
71.445 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) FOR THE YEAR |
63.280 |
13.237 |
83.008 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
52.54 |
59.34 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.10 |
5.14 |
5.46 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.15 |
6.61 |
6.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.73 |
9.02 |
8.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.29 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.51 |
0.95 |
0.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03 |
0.97 |
1.52 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
142.701 |
142.701 |
164.081 |
|
Reserves & Surplus |
209.520 |
222.757 |
286.037 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
352.221 |
365.458 |
450.118 |
|
|
|
|
|
|
Long-term borrowings |
1.263 |
0.000 |
0.969 |
|
Short term borrowings |
291.322 |
348.454 |
226.526 |
|
Total borrowings |
292.585 |
348.454 |
227.495 |
|
Debt/Equity ratio |
0.831 |
0.953 |
0.505 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Gross Receipts |
1507.634 |
1613.320 |
2082.100 |
|
|
|
7.010 |
29.057 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Gross Receipts |
1507.634 |
1613.320 |
2082.100 |
|
Profit |
83.008 |
84.682 |
86.204 |
|
|
5.51% |
5.25% |
4.14% |
LOCAL AGENCY FURTHER INFORMATION
Details of Current maturities of long-term debt:
|
Particulars |
31.03.2013 (Rs. in millions) |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
|
Current maturities of
long-term debt |
0.455 |
0.928 |
NA |
|
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] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10460720 |
25/09/2013 |
2,100,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
B89745699 |
|
2 |
10399987 |
24/01/2013 |
1,495,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
B66847138 |
|
3 |
10265418 |
31/12/2013 * |
2,400,000,000.00 |
BANK OF MAHARASHTRA |
LOKMANGAL, 1501,
SHIVAJINAGAR, PUNE, PUNE, MAHARASHTRA - 411018, INDIA |
C06106686 |
|
4 |
10223702 |
21/05/2010 |
415,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
A87257143 |
|
5 |
10208886 |
19/03/2010 |
1,442,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
A82310566 |
|
6 |
10190731 |
27/11/2009 |
2,019,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
A75259358 |
|
7 |
10190727 |
25/11/2009 |
4,118,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
A75258897 |
|
8 |
10175340 |
01/09/2009 |
1,505,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
A69601235 |
|
9 |
10058949 |
23/03/2010 * |
950,000,000.00 |
BANK OF MAHARASHTRA |
MUMBAI PUNE ROAD, PIMPRI,
PUNE, MAHARASHTRA - 411018, INDIA |
A83527465 |
|
10 |
90082759 |
29/10/2001 |
218,500,000.00 |
BANK OF MAHARASHTRA |
PIMPRI BRANCH, PUNE,
MAHARASHTRA - 411018, INDIA |
- |
|
11 |
90085606 |
27/02/2003 * |
189,500,000.00 |
BANK OF MAHARASHTRA |
PIMPRI BRANCH, PUNE,
MAHARASHTRA - 411018, INDIA |
- |
|
12 |
90085604 |
22/08/2006 * |
219,561,000.00 |
BANK OF MAHARASHTRA |
LOKMANGAL, 1501,
SHIVAJINAGAR, PUNE, AT ITS PIMPRI BRANCH, PUNE, MAHARASHTRA - 411005, INDIA |
- |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
|
|
|
Unsecured
loan from shareholder (Mr.
Suresh N. Gharpure) |
0.000 |
6.334 |
|
Total
|
0.000 |
6.334 |
COMPANY OVERVIEW:
Subject was incorporated on
March 29, 2000.
The Registered office of
the Company is situated at 35/1, D2 Block, Chinchwad, MIDC, Pune - 411019.
The main object of the
Company is to carry on the business of design, development and operation of
urban infrastructure project like Sewage Treatment Plants (STP), Water
Treatment Plants (WTP), Water Supply Pipelines, Pumping Stations, Sewerage
Pipeline Networks, etc. including civil, electro-mechanical works.
OPERATIONS:
For the year, the Company
has achieved a turnover of Rs.2082.080 millions as compared to Rs.1613.321
millions in the last year, representing an increase of 29.06%. While Net profit
after tax has increased to Rs.86.204 millions, as against Rs.84.682 millions in
the last year.
During the year Income Tax
Department conducted search proceeding at the company’s premises. Pursuant to
search proceedings the Income Tax Department has claimed disallowances of
expenses relating to earlier years, and the company has estimated a tax
liability of Rs.22.924 millions (Previous Year-Rs.71.445 millions) on account
of these disallowances. The company has provided this liability in the books
and has shown it as exceptional item.
During
the company has bagged some new prestigious orders and has built robust Order Book
of about Rs.6000.000 millions.
CONTINGENT LIABILITIES NOT PROVIDED IN BOOKS
OF ACCOUNT:
|
Particulars |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
(I)
For Bank Guarantees |
1079.451 |
943.016 |
|
(II)
For Letters of credit |
264.960 |
89.134 |
|
Total |
1344.411 |
1032.150 |
FIXED ASSETS:
·
Land
and Buildings
·
Plant
and Machinery
·
Computers
·
Vehicles
·
Furniture
and Fixtures
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.60.10 |
|
|
1 |
Rs.102.32 |
|
Euro |
1 |
Rs.81.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
|
48 |
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.