MIRA INFORM REPORT
|
Report Date : |
18.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
HASTALLOY INDIA LIMITED ( w.e.f 30.10.1992) |
|
|
|
|
Formerly Known
As : |
HASTALLOY CASTING PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
50-40-8, P and T Colony, Seethammadhara, Visakhapatnam – 530013,
Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
30.07.1981 |
|
|
|
|
Com. Reg. No.: |
01-003130 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3.600 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109AP1981PLC003130 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
VPNH00123E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of alloy Steel, Casting and Cast-weld
Assemblies. |
|
|
|
|
No. of Employees
: |
106 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD
37000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Management of the company has failed to file its latest financials of
2013 with government department. As per financials of 2012, external borrowing of the company is huge. However, trade relation are fair. Business is active. Payments terms
are slow but correct. The company can be considered for business dealings with some caution. |
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
State-run banks hired nearly
300000 personnel including more than 94000 officers in the last four years,
according to the Indian Banks Association. A study by trade lobby Assocham in
September 2013 indicated that banks would need 800000 people in the next six
years. It estimated that state-run lenders alone would hire 50000 people in
2013/14.
The Competition Commission of
India plans to issue final orders within a broad time-frame of one year in matters
where it decides to carry out detailed investigations. The number of complaints
received by the watchdog which keeps tabs on unfair trade practices in the
marketplace.
The government has detected
custom tax evasion totaling around Rs 37920 mn in 14 states until December.
Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs
8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.
Connaught Place in New Delhi
slipped four notches to become the world’s eighth most expensive office
locations. London’s West End is the world’s most expensive office market.
There are 4.072 mn number of
high value spenders under the scanner of the income tax department. The income
tax department has information that they have made cash deposits announcing to
Rs 1 mn or more in their savings bank accounts in the current financial year.
It plans to check potential evasion before the closing of the financial year on
March 31.
Estimated pharmaceutical sales
in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago.
The life sciences and health care industry is up against challenges such as
quality management, says a recent Deloitte report.
The gross non-performing assets
of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months
of the financial year. In absolute terms, the 40 listed banks added Rs 3386
crore to their gross NPAs in nine months with the State Bank of India leading
with the State Bank of India leading with an accretion of Rs 16610 crore.
The inflow of smuggled gold
doubled in 2013 following restrictions to curb the supply from official
channels to contain the current account deficit. China surpassed India in the
demand for gold for the first time in 2013 due to liberalization of gold
trading norms by its local governments.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating B+ |
|
Rating Explanation |
Risk prone credit quality and very high
credit risk. |
|
Date |
December 26, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
December 26, 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 PARTED BY
|
Name : |
Ms. Padmaja |
|
Designation : |
Account Executive |
|
Contact No.: |
91-9492237761 |
|
Date : |
12.03.2014 |
LOCATIONS
|
Registered Office : |
50-40-8, P and T Colony, Seethammadhara, Visakhapatnam – 530013,
Andhra Pradesh, India |
|
Tel. No. : |
Not Available |
|
Mobile No. : |
91-9492237761 (Ms. Padmaja) |
|
Fax No. : |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
IDZ, NH-16, Anakapalle, Vishakapatnam - 531001, Andhra Pradesh, India |
|
Tel. No.: |
91-8924-222802 |
|
|
|
|
Marketing and Administrative
Office |
10-2-289/25, 2nd
Floor, Sri Lakshmi Complex, Shanthingar - 500028, Hyderabad, India |
|
Tel. No. : |
91-40-23372337 / 23372338 |
|
Fax No. : |
91-40-23372338 |
|
E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Eashwar Koneru |
|
Designation : |
Managing Director |
|
Address : |
301, M. V. Towers, Shanthi Nagar, Hyderabad – 500028, Andhra Pradesh,
India |
|
Date of Birth/Age : |
30.07.1959 |
|
Date of Appointment : |
14.12.2005 |
|
DIN No. : |
00033433 |
|
|
|
|
Name : |
Pidikiti Seshagiri Rao |
|
Designation : |
Director |
|
Address : |
Flat B-502, KRS Plaza, Seethammadhara, Visakhapatnam – 530016, Andhra
Pradesh, India |
|
Date of Birth/Age : |
02.06.1959 |
|
Date of Appointment : |
24.04.2006 |
|
DIN No. : |
00325454 |
|
|
|
|
Name : |
Koneru Vasudev |
|
Designation : |
Director |
|
Address : |
D No. 6-62, Enikepadu, Ramavarappadu, Vijayawada – 521108, Andhra
Pradesh, India |
|
Date of Birth/Age : |
02.08.1964 |
|
Date of Appointment : |
24.04.2006 |
|
DIN No. : |
00325508 |
|
|
|
|
Name : |
Anjaneya Prasad Ramineni |
|
Designation : |
Managing Director |
|
Address : |
50-116-5/A, MIG-136, Seethammadhara, Visakhapatnam – 530016, Andhra
Pradesh, India |
|
Date of Birth/Age : |
02.06.1959 |
|
Date of Appointment : |
14.12.2005 |
|
DIN No. : |
00538780 |
|
|
|
|
Name : |
Kristna Murty Koneru |
|
Designation : |
Director |
|
Address : |
D No. 11-93, Enikepadu, KVR Colony, Ramavarappadu, Vijayawada – 521108,
Andhra Pradesh, India |
|
Date of Birth/Age : |
15.03.1925 |
|
Date of Appointment : |
29.09.2006 |
|
DIN No. : |
06580001 |
|
|
|
|
Name : |
Pidikiti Ranga Rao |
|
Designation : |
Director |
|
Address : |
147/1, Enikepadu, Ramavarappadu, Vijayawada – 521108, Andhra Pradesh,
India |
|
Date of Birth/Age : |
26.07.1949 |
|
Date of Appointment : |
29.09.2006 |
|
DIN No. : |
00325406 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Name
of Shareholders |
No.
of Shares |
%age |
|
|
113450 |
31.51 |
|
V L Prasad |
4400 |
1.22 |
|
K Krishna Murthy |
2500 |
0.69 |
|
P Ranga Rao |
52390 |
14.55 |
|
V Harish |
17210 |
4.78 |
|
K Eashwar |
57060 |
15.85 |
|
K Vasudev |
55900 |
15.53 |
|
P Seshagiri Rao |
57100 |
15.86 |
|
Total |
360,010 |
100.00 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of alloy Steel, Casting and Cast-weld
Assemblies. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit |
|
|
|
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
106 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
Union Bank of India,6-2-984, Pavani Plaza, Khairatabad Branch,
Hyderabad - 500004, Andhra Pradesh India |
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Brahmayya and Company Chartered Accountants |
|
Address : |
Suhasini, 10-50-24, Siripuram JN, Visakhapatnam – 530003, Andhra Pradesh, India |
|
PAN
No. : |
AADFB8032G |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
360010 |
Equity Shares |
Rs.10/- each |
Rs.3.600 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 |
|
3.600 |
3.600 |
|
(b) Reserves & Surplus |
|
5.623 |
3.524 |
|
(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) |
|
9.223 |
7.124 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
15.887 |
15.371 |
|
(b) Deferred tax liabilities (Net) |
|
1.234 |
1.341 |
|
(c) Other long term liabilities |
|
5.000 |
0.000 |
|
(d) long-term provisions |
|
1.110 |
0.667 |
|
Total
Non-current Liabilities (3) |
|
23.231 |
17.379 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
43.192 |
48.688 |
|
(b) Trade payables |
|
21.739 |
8.867 |
|
(c) Other current liabilities |
|
7.944 |
5.259 |
|
(d) Short-term provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
|
72.875 |
62.814 |
|
|
|
|
|
|
TOTAL |
|
105.329 |
87.317 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
15.015 |
15.541 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
0.235 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
|
0.756 |
0.645 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
16.006 |
16.186 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
22.473 |
24.199 |
|
(c) Trade receivables |
|
53.695 |
24.529 |
|
(d) Cash and cash equivalents |
|
7.379 |
16.739 |
|
(e) Short-term loans and advances |
|
4.628 |
4.780 |
|
(f) Other current assets |
|
1.148 |
0.884 |
|
Total
Current Assets |
|
89.323 |
71.131 |
|
|
|
|
|
|
TOTAL |
|
105.329 |
87.317 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
3.600 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1.023 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
4.623 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
40.209 |
|
|
2] Unsecured Loans |
|
|
20.000 |
|
|
TOTAL BORROWING |
|
|
60.209 |
|
|
DEFERRED TAX LIABILITIES |
|
|
1.336 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
66.168 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
15.348 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
27.434 |
|
|
Sundry Debtors |
|
|
24.663 |
|
|
Cash & Bank Balances |
|
|
13.247 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
6.883 |
|
Total
Current Assets |
|
|
72.227 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
16.461 |
|
|
Other Current Liabilities |
|
|
4.361 |
|
|
Provisions |
|
|
0.585 |
|
Total
Current Liabilities |
|
|
21.407 |
|
|
Net Current Assets |
|
|
50.820 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
66.168 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
SALES |
|
|
|
|
|
Income |
140.719 |
146.647 |
89.925 |
|
|
Other Income |
1.819 |
0.556 |
1.206 |
|
|
TOTAL (A) |
142.538 |
147.203 |
91.131 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Raw Materials Consumed |
78.144 |
|
|
|
|
Purchases of Trading goods |
16.301 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
Stock-in-Trade |
(3.103) |
2.818 |
|
|
|
Increase/(Decreases) in stock |
0.000 |
|
|
|
|
Employees benefits expense |
13.186 |
11.715 |
|
|
|
Other operational expenses |
21.338 |
19.890 |
|
|
|
Other expenses |
4.167 |
4.321 |
|
|
|
TOTAL (B) |
130.033 |
133.606 |
79.210 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
12.505 |
13.597 |
11.921 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.999 |
8.526 |
7.112 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.506 |
5.071 |
4.809 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.425 |
1.405 |
1.297 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
3.081 |
3.666 |
3.512 |
|
|
|
|
|
|
|
Less |
TAX (I) |
0.982 |
1.165 |
2.270 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
2.099 |
2.501 |
1.242 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.977 |
0.476 |
(0.766) |
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
5.076 |
2.977 |
0.476 |
|
|
|
|
|
|
|
|
IMPORT |
NA |
35.625 |
19.952 |
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
5.83 |
6.95 |
3.45 |
|
Particulars |
|
|
31.03.2013 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
104.300 |
|
|
|
|
(Due to Market
Fluctuation) |
The above information has been parted by Ms. Padmaja
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.47
|
1.70 |
1.36 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.19
|
2.50 |
3.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.79
|
4.20 |
4.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.51 |
0.76 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
6.40
|
8.99 |
13.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22
|
1.13 |
3.37 |
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 |
3.600 |
3.600 |
|
Reserves & Surplus |
3.524 |
5.623 |
|
Net
worth |
7.124 |
9.223 |
|
|
|
|
|
long-term borrowings |
15.371 |
15.887 |
|
Short term borrowings |
48.688 |
43.192 |
|
Total
borrowings |
64.059 |
59.079 |
|
Debt/Equity
ratio |
8.992 |
6.406 |
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) |
|
Sales |
89.925 |
146.647 |
140.719 |
|
|
|
63.077 |
(4.042) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
89.925 |
146.647 |
140.719 |
|
Profit |
1.242 |
2.501 |
2.099 |
|
|
1.38% |
1.71% |
1.49% |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
four 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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
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 |
Yes |
LITIGATION DETAILS
|
CEA 51 / 2012 CEASR 1935 /
2008
CASE IS:PENDING |
|
PETITIONER
RESPONDENT THE COMMISSIONER OF CE.E. VISAKHAPATNAM -
35. VS M/S. HASTALLOY INDIA LIMITED, REP.BY M.D., VISAKHAPATNAM. PET.ADV.: (SR SC FOR CENT
EXERCISE)P SARADA RESP.ADV. : CHOWDARY SUBJECT: PENALTY DISTRICT: VISAKHAPATNAM |
|
FILING DATE: 24-06-2008 POSTING
STAGE : FOR ADMISSION REG. DATE : 21-07-2012 LISTING
DATE : 31-07-2012 STATUS : ADMIT |
|
HON'BLE JUDGE(S): GODA
RAGHURAM M.S.RAMACHANDRA
RAO |
UNSECURED LOANS
|
PARTICULAR |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
From Director |
10.748 |
9.957 |
|
From relatives of directors |
5.066 |
5.066 |
|
|
|
|
|
Total |
15.814 |
15.023 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10015774 |
04/08/2010 * |
107,291,000.00 |
UNION BANK OF INDIA |
BANJARA HILLS BRANCH, BANJARA HILLS, HYDERABAD - 500034, Andhra
Pradesh, INDIA |
A91847806 |
|
2 |
90134790 |
08/07/2004 |
1,000,000.00 |
THE FEDERAL BANK LTD. |
VISAKHAPATNAM, VISAKHAPATNAM, Andhra Pradesh, INDIA |
- |
|
3 |
90133614 |
12/02/1983 * |
14,000,000.00 |
STATE BANK OF INDIA |
VISAKHAPATNAM, VISAKHAPATNAM, Andhra Pradesh, INDIA |
- |
|
4 |
90135175 |
30/03/1990 |
386,000.00 |
A.P. STATE FINANCIAL CORPORATION |
CHIRAG ALI LANE, HYDERABAD - 500001, Andhra Pradesh, INDIA |
- |
|
5 |
90135169 |
13/03/1990 |
1,175,000.00 |
A.P. STATE FINANCIAL CORPORATION |
CHIRAG ALI LANE, HYDERABAD - 500001, Andhra Pradesh, INDIA |
- |
|
6 |
90134968 |
11/01/1997 * |
1,200,000.00 |
STATE BANK OF INDIA |
C AND I DIVISION, MAIN BRANCH, VISAKHAPATNAM - 530001, Andhra Pradesh,
INDIA |
- |
|
7 |
90134964 |
10/06/1982 |
3,000,000.00 |
A.P. STATE FINANCIAL CORPORATION |
CHIRAG ALI LANE, HYDERABAD - 500001, Andhra Pradesh, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Land
- Building
- Plant and
Machinery
- Furniture and
Fixture
- 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.61.52 |
|
|
1 |
Rs.102.22 |
|
Euro |
1 |
Rs.85.23 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.