MIRA INFORM REPORT
|
Report Date : |
06.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
B FOURESS PRIVATE LIMITED (w.e.f.03.03.2010) |
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|
|
Formerly Known
As : |
BOVING FOURESS PRIVATE LIMITED (w.e.f.06.12.2007) BOVING FOURESS LIMITED |
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Registered
Office : |
Plot No. 2, Phase II, Peenya Industrial Area, Bangalore –
560058, Karnataka |
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Country : |
India |
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|
|
Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
01.03.1985 |
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Com. Reg. No.: |
08-006747 |
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Capital
Investment / Paid-up Capital : |
Rs. 10.757
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29119KA1985PTC006747 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRB04102A |
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|
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PAN No.: [Permanent Account No.] |
AAACB6220A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Hydraulic, Electrical and Mechanical Turbines. |
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|
|
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1100000 |
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is 63:38 joint venture between the Fouress Group and Bolving and
Company Limited, UK. It is an established company having a fine track record. Management of the company has failed to file its financial for the
year 2013 with the government department. As per available financial 2012, financial position of the company
seems to be decent. Trade relations are fair. Business is active. Payments are reported to
be regular. The company can be considered normal 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 – 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 |
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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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term Fund based : A |
|
Rating Explanation |
Have adequate degree of safety and carry low
credit risk. |
|
Date |
August 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term Non-Fund based : A1 |
|
Rating Explanation |
Have very strong degree of safety and carry
lowest credit risk. |
|
Date |
August 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
(CONTACT NO.: 91-80-28395734)
LOCATIONS
|
Registered Office/ Factory 1 : |
Plot No. 2, Phase II, Peenya Industrial Area, Bangalore –
560058, Karnataka, India |
|
Tel. No.: |
91-80-28395734 |
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Fax No.: |
91-80-28395176 |
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E-Mail : |
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Website : |
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Headquarter/ Factory 2 : |
Plot No.7, KIADB Industrial Area, Hoskote, Bangalore – 562114, Karnataka, India |
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Tel. No.: |
91-80-27971641-46 (6 lines) |
|
Fax No.: |
91-80-27971455 |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Sameer Sadanand Shetty |
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Designation : |
Managing director |
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Address : |
11-D, IL Palazzo, Little Gibbs Road, Malabar Hill, Mumbai - 400006,
Maharashtra, India |
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Date of Birth/Age : |
24.06.1970 |
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Qualification : |
MS - Industrial Engineering |
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Date of Appointment : |
01.04.1996 |
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PAN No.: |
AAIPS2479M |
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DIN No.: |
01306426 |
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Other Directorship :
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Name : |
Ms. Sucharita Ramcrishna Hegde |
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Designation : |
Director |
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Address : |
No. 52, Suraiya Apartments, Pochkhanwala Road, Mumbai - 400025,
Maharashtra, India |
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Date of Birth/Age : |
16.09.1958 |
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Date of Appointment : |
27.06.2008 |
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DIN No.: |
01284570 |
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Other Directorship :
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Name : |
Ms. Smitha Hari Prasad Shetty |
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Designation : |
Director |
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Address : |
777, 100 Feet Road, Hal 2nd Stage, Indiranagar, Bangalore -
560008, Karnataka, India |
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Date of Birth/Age : |
01.12.1956 |
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Date of Appointment : |
27.06.2008 |
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DIN No.: |
01872542 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Hari Prasad Shetty |
|
30 |
|
Anshuman Anubhai Majmudar |
|
30 |
|
Fouress Investments Private Limited, India |
|
300000 |
|
IDBI Trusteeship Services (IDBI Bank), India |
|
775590 |
|
|
|
|
|
Total |
|
1075650 |
AS ON 29.09.2012
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Public financial companies |
72.00 |
|
Bodies
corporate |
28.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Hydraulic, Electrical and Mechanical Turbines. |
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Products/ Services : |
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PRODUCTION STATUS (AS ON 31.03.2012)
|
Particulars |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Mini Hydro Turbines & Auxiliaries up to 40 MW Unit Capacity. |
40 MW p.a. Maximum Annual Capacity 40 sets p.a. |
15 Sets |
20 Nos. |
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GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
· State Bank of India Industrial Finance Branch, Residency Plaza, Residency Road, Bangalore - 560025, Karnataka, India · IDBI Bank Limited 102, Shakthi Comforts Tower, K H Road, Bangalore - 560027, Karnataka, India · The Bank of Rajasthan Limited Gandhinagar, Bangalore - 560005, Karnataka, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Gowthama And Company Chartered Accountants |
|
Address : |
No. 53/57, 41st Cross, East End C Main Road, 9th
Block, Jayanagar Bangalore - 560069, Karnataka, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AANPG9369B |
|
|
|
|
Associate : |
Fouress
Engineering (India) Limited [U74210MH1971PLC015196] |
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|
|
Subsidiary Company : |
Maani Sha
Hydrodevelopment Company Pte Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,075,650 |
Equity Shares |
Rs. 10/- each |
Rs. 10.757
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
10.757 |
10.757 |
|
(b) Reserves & Surplus |
|
268.011 |
259.765 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
278.768 |
270.522 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
4.222 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
0.000 |
4.222 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
10.163 |
26.697 |
|
(b)
Trade payables |
|
199.635 |
279.625 |
|
(c)
Other current liabilities |
|
729.332 |
571.279 |
|
(d)
Short-term provisions |
|
23.409 |
28.782 |
|
Total
Current Liabilities (4) |
|
962.539 |
906.383 |
|
|
|
|
|
|
TOTAL |
|
1241.307 |
1181.127 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
39.901 |
34.554 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development |
|
9.774 |
0.000 |
|
(b) Non-current
Investments |
|
0.170 |
2.072 |
|
(c) Deferred tax assets
(net) |
|
2.303 |
2.490 |
|
(d) Long-term Loan
and Advances |
|
53.934 |
17.447 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
106.082 |
56.563 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
99.094 |
28.807 |
|
(c)
Trade receivables |
|
589.717 |
586.880 |
|
(d)
Cash and cash equivalents |
|
327.600 |
300.716 |
|
(e)
Short-term loans and advances |
|
112.684 |
201.492 |
|
(f)
Other current assets |
|
6.130 |
6.669 |
|
Total
Current Assets |
|
1135.225 |
1124.564 |
|
|
|
|
|
|
TOTAL |
|
1241.307 |
1181.127 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
10.757 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
239.962 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
250.719 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
8.703 |
|
|
TOTAL BORROWING |
|
|
8.703 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
259.422 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
32.288 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1.404 |
|
|
DEFERRED TAX ASSETS |
|
|
2.312 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
211.619 |
|
|
Sundry Debtors |
|
|
401.209 |
|
|
Cash & Bank Balances |
|
|
212.007 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
311.660 |
|
Total
Current Assets |
|
|
1136.495 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
131.866 |
|
|
Other Current Liabilities |
|
|
726.652 |
|
|
Provisions |
|
|
54.559 |
|
Total
Current Liabilities |
|
|
913.077 |
|
|
Net Current Assets |
|
|
223.418 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
259.422 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL (A) |
1442.479 |
1865.125 |
2105.090 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
1367.806 |
1769.689 |
1951.936 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
74.673 |
95.436 |
153.154 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
35.543 |
39.166 |
25.614 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
39.130 |
56.270 |
127.540 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.508 |
7.989 |
6.962 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
31.622 |
48.281 |
120.578 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
10.874 |
15.977 |
44.960 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
20.748 |
32.304 |
75.618 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
190.048 |
176.705 |
128.754 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
6.689 |
6.460 |
15.124 |
|
|
|
Dividend |
10.757 |
10.757 |
10.757 |
|
|
|
Tax on Dividend |
1.745 |
1.744 |
1.786 |
|
|
|
|
19.191 |
18.961 |
27.667 |
|
|
BALANCE CARRIED
TO THE B/S |
191.605 |
190.048 |
176.705 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
540.255 |
771.882 |
976.895 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
19.29 |
30.03 |
70.30 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.44
|
1.73 |
3.59 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.57
|
4.10 |
10.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.18 |
0.48 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.04
|
0.11 |
0.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18
|
1.24 |
1.24 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
in Millions) |
(Rs.
in Millions) |
|
Share Capital |
10.757 |
10.757 |
|
Reserves & Surplus |
259.765 |
268.011 |
|
Net
worth |
270.522 |
278.768 |
|
|
|
|
|
long-term borrowings |
4.222 |
0.000 |
|
Short term borrowings |
26.697 |
10.163 |
|
Total
borrowings |
30.919 |
10.163 |
|
Debt/Equity
ratio |
0.114 |
0.036 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
in Millions) |
(Rs.
in Millions) |
(Rs.
in Millions) |
|
Total Income |
2105.090 |
1865.125 |
1442.479 |
|
|
|
(11.399) |
(22.660) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
in Millions) |
(Rs.
in Millions) |
(Rs.
in Millions) |
|
Total Income |
2105.090 |
1865.125 |
1442.479 |
|
Profit |
75.618 |
32.304 |
20.748 |
|
|
3.59% |
1.73% |
1.44% |
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 |
No |
|
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 |
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 |
10150811 |
27/01/2011 * |
520,000,000.00 |
IDBI BANK LIMITED |
102, SHAKTHI
COMFORTS TOWER, K H ROAD, BANGALORE - 560027, |
B07287592 |
|
2 |
10104607 |
11/04/2008 |
225,000,000.00 |
IDBI BANK LIMITED |
IDBI HOUSE, NO.58, MISSION ROAD, BANGALORE - 560027, KARNATAKA, INDIA |
A39264023 |
|
3 |
90195586 |
19/09/2001 |
5,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, RESIDENCT ROAD, BANGALORE, KARNATAKA, INDIA |
- |
|
4 |
90195453 |
02/02/1999 |
11,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, RESIDENCT ROAD, BANGALORE, KARNATAKA, INDIA |
- |
|
5 |
90195409 |
02/02/1998 |
32,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
IDBI HOUSE, NO.58, MISSION ROAD, BANGALORE - 560027, KARNATAKA, INDIA |
- |
|
6 |
90195259 |
31/05/1995 |
15,000,000.00 |
IDBI |
IDBI TOWER, COLABA, BOMBAY - 400005, MAHARASHTRA, INDIA |
- |
|
7 |
90189393 |
26/02/1995 |
27,980,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, RESIDENCT ROAD, BANGALORE, KARNATAKA, INDIA |
- |
|
8 |
90195170 |
10/06/2013 * |
937,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, RESIDENCY PLAZA, RESIDENCY ROAD, BANGALORE - 560025, KARNATAKA, INDIA |
B78984150 |
|
9 |
90193596 |
26/08/1992 * |
8,500,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, RESIDENCT ROAD, BANGALORE, KARNATAKA, INDIA |
- |
|
10 |
90195038 |
03/05/1991 |
28,000,000.00 |
STATE BANK OF INDIA |
PEENYA INDUSTRIAL ESTATE BRANCH, BANGLORE - 560058, KARNATAKA, INDIA |
- |
|
11 |
90194965 |
26/06/1990 * |
2,500,000.00 |
STATE BANK OF INDIA |
PEENYA INDUSTRIAL ESTATE BRANCH, BANGLORE - 560058, KARNATAKA, INDIA |
- |
|
12 |
90194908 |
17/02/1989 |
2,139,000.00 |
STATE BANK OF BIKANER & JAIPUR |
NO 122; 6TH CROSS, GANDHINAGAR, BANGALORE - 560009, KARNATAKA, INDIA |
- |
|
13 |
90194851 |
26/02/1988 |
5,000,000.00 |
STATE BANK OF BIKANER & JAIPUR |
122; 6TH ; CROSS, GANDHINAGAR, BANGALORE - 560009, KARNATAKA, INDIA |
- |
|
14 |
90194847 |
04/01/1988 |
26,300,000.00 |
STATE BANK OF BIKANER & JAIPUR |
122; 6TH ; CROSS, GANDHINAGAR, BANGALORE - 560009, KARNATAKA, INDIA |
- |
|
15 |
90193327 |
29/09/1987 |
9,963,400.00 |
STATE BANK OF BIKANER AND JAIPUR |
GANDHINAGAR BRACNH, BANGLORE, KARNATAKA, INDIA |
- |
* Date of charge modification
OPERATIONS
During this period, the turnover of the company has slid down by 22 % due
to the strict policy adopted by the company not to sell on credit basis. The
company has secured orders worth Rs.2286.300 Millions and there is a carried
forward order of Rs. 3530.000 Millions for the execution in the coming years.
The company is continuously taking its efforts in bringing down the cost by
Value Engineering to remain competitive in the global market.
OUTLOOK FOR THE
YEAR 2013
As envisaged in their earlier report the outlook for the next financial
year is better than the expected as new countries are being added in its map.
The company is setting up small hydropower plants in 9 countries for its
customers including Guatemala, a new country. The company could retain its
leadership position in Small Hydro Business despite increased competition and
would be continuing to do so in the coming years. The Company is also looking
up of appointing Representatives in different countries that would help us in
tapping the hydro markets.
Also the company is focusing on outsourcing to meet the excess capacity
requirement due to increase in orders and this will help to increase the top
line without any further capital expenses.
MARKET EXPANSION
The company has opened its second Foreign Branch office in Turkey as it
sees a lots of potential in the area. Further the company has engaged the
services of a Global Consulting Firm based in USA for global market research
which will help the company to tap the global markets and also to find suitable
Agents/Partners in various untapped countries. The company has ambition to add
at least 7 more countries in 2012-13 in its market list.
FIXED ASSETS:
· Land
· Buildings
· Factory building
· Plant and equipment
· Other plant and equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
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. 61.86 |
|
|
1 |
Rs. 103.06 |
|
Euro |
1 |
Rs. 84.92 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.