1. Summary Information
|
Country |
India |
||
|
Company Name |
SAMSUNG C AND T INDIA PRIVATE LIMITED |
Principal Name 1 |
Ho Bong Kang |
|
Status |
Satisfactory |
Principal Name 2 |
Yoon Sang Kim |
|
Registration # |
55-169971 |
||
|
Street Address |
18th Floor, Block C, (Cyber Terrace), Building No.5, Cyber
City, DLF Phase - III, Gurgaon – 122002, Haryana |
||
|
Established Date |
30.10.2007 |
SIC Code |
-- |
|
Telephone# |
91-124-4981200 / 4981202 |
Business Style 1 |
Service Provider |
|
Fax # |
91-124-4981202 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
-- |
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.
111,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings – 100% |
Banking |
Shinhan Bank |
|
Public Limited Corp. |
No |
Business Period |
7 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (44) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
-- |
Samsung C&T Corporation |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1583,068,000 |
Current Liabilities |
110,051,000 |
|
Inventories |
0 |
Long-term Liabilities |
591,244,000 |
|
Fixed Assets |
103,327,000 |
Other Liabilities |
830,244,000 |
|
Deferred Assets |
5,023,000 |
Total Liabilities |
1,531,539,000 |
|
Invest& other Assets |
0 |
Retained Earnings |
48,879,000 |
|
|
|
Net Worth |
159,879,000 |
|
Total Assets |
1,691,418,000 |
Total Liab. & Equity |
1,691,418,000 |
|
Total Assets (Previous Year) |
1,376,314,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Total Income |
4164,046,000 |
Net Profit/Loss |
(108,263,000) |
|
Sales
(Previous yr) |
2042,035,000 |
Net Profit(Prev.yr) |
9,947,000 |
MIRA INFORM REPORT
|
Report Date : |
05.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAMSUNG C AND T INDIA PRIVATE LIMITED (w.e.f. 19.03.2009) |
|
|
|
|
Formerly Known
As : |
SAMSUNG E AND C INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
18th Floor, Block C, (Cyber Terrace), Building No.5, Cyber
City, DLF Phase - III, Gurgaon – 122002, Haryana |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
30.10.2007 |
|
|
|
|
Com. Reg. No.: |
55-169971 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 111.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45400DL2007FTC169971 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AALCS2873B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is
primarily engaged in the business of Engineering, procurement and
Construction, Business Development, trading of various products and export of
marketing services through its branch offices. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 639516 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of “Samsung C and T Corporation”. It is a well established company having a satisfactory track record. The company has incurred a heavy loss from its operation during
financial year 2013. However, the subject gets good support from its holding company. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct and as per commitments. The company can be considered for normal 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.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry
retained its status as the favourable venture capital investors in 2013.
Pakistan has temporarily banned gold imports for the second time in six months,
as it tries to stem smuggling into India. India’s import duty on gold is 10 %
and curbs on purchases have dried up legal imports into what used to be the
world’s biggest bullion buyers. The World Gold Council puts the amount smuggled
into India at upto 200 tonnes in 2013. The Reserve Bank of India has proposed
that unclaimed bank deposits estimated to be about Rs 35000 mn be used for
education and awareness among depositors. According to the plan, deposits
that have not been claimed for at least 10 years will be transferred to the scheme.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED BY
Management Non Co-operative
(Tel. No.: 91-11-46559000)
LOCATIONS
|
Registered Office : |
18th Floor, Block C, (Cyber Terrace), Building No.5, Cyber City,
DLF Phase – III, Gurgaon – 122002, Haryana, India |
|
Tel. No.: |
91-124-4981200 / 4981202 |
|
Fax No.: |
91-124-4981202 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office 1 : |
B-2, 2nd Floor, The Mira Corporate Suites, Plot No.1 and 2,
Old Ishwar Nagar, Mathura Road, New Delhi - 110065, India |
|
Tel. No.: |
91-11-46559000 |
|
Fax No.: |
91-11-46559090 |
|
|
|
|
Corporate Office 2: |
Building No. 5, 5th Floor, No. 552, Solitaire Corporate
Park, Andheri (East), Chakala, Mumbai – 400093, India |
|
Tel. No.: |
91-22-61438300 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Ho Bong Kang |
|
Designation : |
Managing director |
|
Address : |
Building No. 502, World Spa, Sector 30, Gurgaon-122002, Haryana, India
|
|
Date of Birth/Age : |
28.07.1963 |
|
Date of Appointment : |
30.11.2009 |
|
DIN No.: |
02855786 |
|
|
|
|
Name : |
Mr. Yoon Sang Kim |
|
Designation : |
Additional Director |
|
Address : |
A-902, Palm Springs, Sectro – 54, Golf Course Road, Gurgaon-122002,
Haryana, India |
|
Date of Birth/Age : |
27.10.1979 |
|
Date of Appointment : |
22.04.2013 |
|
DIN No.: |
06559662 |
KEY EXECUTIVES
|
Name : |
Ms. Kanika Mahna |
|
Designation : |
Secretary |
|
Address : |
B 204, Janak Puri, New Delhi – 110058, India |
|
Date of Birth/Age : |
18.09.1986 |
|
Date of Appointment : |
17.04.2012 |
|
PAN No.: |
BATPM3395N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Samsung E and C America Inc., USA |
|
1 |
|
Samsung C and T Corporation, Korea |
|
7999999 |
|
Samsung C and T Corporation, Korea |
|
3100000 |
|
|
|
|
|
Total |
|
11100000 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is
primarily engaged in the business of Engineering, procurement and Construction,
Business Development, trading of various products and export of marketing
services through its branch offices. |
||||
|
|
|
||||
|
Product : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Shinhan Bank, Mercantile House, Upper Ground Floor, 15, Kasturba
Gandhi Marg, New Delhi – 110001, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
SHORT TERM
BORROWINGS Loans Repayable
on Demand From Banks Shinhan Bank :
Short Term Loan (Credit Facility) ( one year) taken from Shinhan Bank New
Delhi to be repayable on demand or maturity whichever is earlier. Security -
Nil and Corporate guaranty from parent company. Rate of Interest= Base Rate+
1.25%, present effective rate is 10.50% (Present Base Rate is 9.25%). |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dass Gupta and
Associates Chartered Accountants |
|
Address : |
A-51, Hauz Khas, 1st Floor, New Delhi – 110016, India |
|
Tel. No.: |
91-11-46111000 (30 Lines) |
|
Fax No.: |
91-11-46111099 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AQLPM6561F |
|
|
|
|
Holding Company : |
|
|
|
|
|
Liason Office of
Holding Company : |
|
|
|
|
|
Subsidiary of
Holding Company : |
|
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17,400,000 |
Equity Shares |
Rs. 10/- each |
Rs. 174.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11,100,000 |
Equity Shares |
Rs. 10/- each |
Rs. 111.000
Millions |
|
|
|
|
|
*Of the above
110,99,999 (Previous Year 110,99,999) equity share each fully paid up are held
by holding company, Samsung C and T Corporation, Korea.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
111.000 |
|
(b) Reserves & Surplus |
|
|
48.879 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
159.879 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
26.159 |
|
(d) long-term
provisions |
|
|
4.776 |
|
Total Non-current
Liabilities (3) |
|
|
30.935 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
|
591.244 |
|
(b) Trade payables |
|
|
104.629 |
|
(c) Other current
liabilities |
|
|
804.085 |
|
(d) Short-term
provisions |
|
|
0.646 |
|
Total Current Liabilities
(4) |
|
|
1500.604 |
|
|
|
|
|
|
TOTAL |
|
|
1691.418 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
103.327 |
|
(ii) Intangible Assets |
|
|
0.000 |
|
(iii) Capital
work-in-progress |
|
|
0.000 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
5.023 |
|
(d) Long-term Loan and Advances |
|
|
22.539 |
|
(e) Other
Non-current assets |
|
|
135.942 |
|
Total Non-Current
Assets |
|
|
266.831 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
0.000 |
|
(c) Trade receivables |
|
|
897.314 |
|
(d) Cash and cash
equivalents |
|
|
167.184 |
|
(e) Short-term loans
and advances |
|
|
327.209 |
|
(f) Other current
assets |
|
|
32.880 |
|
Total Current Assets |
|
|
1424.587 |
|
|
|
|
|
|
TOTAL |
|
|
1691.418 |
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
111.000 |
111.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
157.142 |
147.196 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
268.142 |
258.196 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
403.279 |
21.408 |
|
|
2] Unsecured Loans |
|
97.000 |
0.000 |
|
|
TOTAL BORROWING |
|
500.279 |
21.408 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
768.421 |
279.604 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
110.592 |
16.141 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
|
2.725 |
2.988 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
25.250
|
5.958 |
|
|
Sundry Debtors |
|
820.292
|
130.877 |
|
|
Cash & Bank Balances |
|
73.012
|
183.029 |
|
|
Other Current Assets |
|
43.382
|
56.976 |
|
|
Loans & Advances |
|
301.061
|
95.361 |
|
Total
Current Assets |
|
1262.997
|
472.201 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
46.047
|
38.178 |
|
|
Other Current Liabilities |
|
544.790
|
133.870 |
|
|
Provisions |
|
17.056
|
39.678 |
|
Total
Current Liabilities |
|
607.893
|
211.726 |
|
|
Net Current Assets |
|
655.104
|
260.475 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
768.421 |
279.604 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
4164.046 |
2042.035 |
625.177 |
|
|
|
Other Income |
|
24.054 |
6.189 |
|
|
|
TOTAL (A) |
4164.046 |
2066.089 |
631.366 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Construction |
|
957.674 |
290.668 |
|
|
|
Purchase of Stock-in-trade |
|
842.438 |
82.421 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
Stock-in-trade |
|
(19.292) |
(5.958) |
|
|
|
Employee benefit expenses |
|
127.304 |
86.551 |
|
|
|
Other expenses |
|
114.357 |
64.568 |
|
|
|
TOTAL (B) |
|
2022.481 |
518.250 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4274.717 (Including
Depreciation and Finance Expenses) |
43.608 |
113.116 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
14.391 |
1.278 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
29.217 |
111.838 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
6.492 |
6.567 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(110.671) |
22.725 |
105.271 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(2.408) |
12.778 |
36.368 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(108.263) |
9.947 |
68.903 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Service Charges |
70.718 |
125.826 |
123.185 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Construction Material |
2.846 |
0.000 |
0.000 |
|
|
|
Hot Rolled Steel Plates |
0.000 |
341.389 |
0.000 |
|
|
|
Abs Natural Grade |
0.000 |
7.092 |
0.000 |
|
|
|
Traded Goods |
1127.510 |
251.160 |
1.639 |
|
|
|
Capital Goods |
1.784 |
34.194 |
0.000 |
|
|
|
Consumables |
130.185 |
25.864 |
0.000 |
|
|
TOTAL IMPORTS |
1262.325 |
659.699 |
1.639 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(9.75) |
0.90 |
7.09 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(2.60)
|
0.48
|
10.91 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
1.11
|
16.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.56)
|
1.65
|
21.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.69)
|
0.08
|
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.69
|
1.87
|
0.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.95
|
2.08
|
2.23 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
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) |
|
Total Income |
631.366 |
2066.089 |
4164.046 |
|
|
|
227.241 |
101.542 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Total Income |
631.366 |
2066.089 |
4164.046 |
|
Profit After Tax |
68.903 |
9.947 |
(108.263) |
|
|
10.91% |
0.48% |
(2.60%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS
|
Particulars |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand |
0.000 |
97.000 |
|
|
|
|
|
Total |
0.000 |
97.000 |
BACKGROUND:
Samsung C and T
India Private Limited (Formerly Samsung E and C India Private Limited) is a company
registered under the Companies Act, 1956. It was incorporated on 30.10.2007 as
subsidiary of foreign company M/s Samsung C and T Corporation (Earlier known as
Samsung Corporation) and started its business operation from 14.11.2007. The
company is primarily engaged in the business of Engineering, procurement and
Construction, Business Development, trading of various products and export of
marketing services through its branch offices. TVS construction project is the
branch office of Samsung C&T India Pvt. Ltd. involving execution of
contract for onshore supply and services for contract –B with DMRC of the Mass
Rapid Transport System Face II vide letter of acceptance no.
DMRC/ELECT/CONTRACT/BE 99 Lot2/24870 dated 26.05.2008.Oasis Mixed use Project
is the branch office of Samsung C and T India Private Limited. Involving
execution of contract for construction of Mixed Use Project located in Worli,
Mumbai and has entered into a contract with Oasis Reality vide letter of
acceptance no. LOA/29072011dated, July 29th, 2011.
FINANCIAL PERFORMANCE:
The Company has
spearheaded its efforts in Indent business by its belligerent marketing
strategy, although the true picture has been overshadowed by the operational outflows.
The results are slowly but steadily visible in the form of enhance mention
profits, better customer relationship with domestic as well as international
clients, increase in clientage, improved brand recognition and facilitation by
other an cillary factors. As a result of the series of measures undertaken, the
Company has seen an augment in the customer referrals for the new project
launches, financial impact of which can be seen in the forthcoming years.
The Company has
uninterruptedly maintained its strategy regarding minimization of credit and
performance risks. Further, it adheres to continue its plans regarding utmost
commitment with minimization of expenditure, keeping in view the boom phase of
Indian economy. The Company has also been proactive in resolving pending
matters of certain projects and is hopeful of positive development in this
regard in the near future.
CONTINGENT
LIABILITIES
Ø Performance
Guarantee issued to ‘Delhi Metro Rail Corporation’ towards performance of the
contract undertaken by the project office are as follows:-
- Performance
Guarantee for Rs. NIL (Previous year Rs. 0.832 Million)
- Performance
Guarantee for Rs. 50.171 Millions (Previous year Rs. 50.171 Millions) valid up
to 30.04.2013
Ø Bank Guarantee
issued to ‘Delhi Metro Rail Corporation’ as security for release of Retention
Money in accordance with the terms of Contract.
- Bank Guarantee
for Retention Money for Rs. 25.086 Millions (Previous year Nil) valid upto
30.04.2013.
- Bank Guarantee
for Retention Money for Rs. NIL (Previous year 0.416 Million)
Ø Bank Guarantee in
lieu of security deposit issued to ‘The secretary New Delhi Municipal
Corporation’ valid up to 20.06.2013 for a sum of Rs. 0.500 Million (Previous
year Rs. 0.500 Million)
Ø The Company
Estimated amount of contracts remaining to be executed on capital account (net
of advances) and not provided for – Nil (Previous year Rs. Nil).
FIXED ASSETS
Ø Computer
Ø Furniture and
Fixture
Ø Office Equipments
Ø Vehicles
Ø Plant and
Machinery
Ø Buildings
Ø Electrical Equipments
Note:
No Charges Exist For Company.
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. 61.97 |
|
|
1 |
Rs. 103.31 |
|
Euro |
1 |
Rs. 85.14 |
INFORMATION DETAILS
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
4 |
|
--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 |
|
TOTAL |
|
44 |
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.