MIRA INFORM REPORT
|
Report Date : |
21.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
SMACO ENGINEERING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-4/603, Vikas Complex, Old Agra Road, Thane – 400001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
23.01.1990 |
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|
|
|
Com. Reg. No.: |
11-055179 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29150MH1990PTC055179 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNES10603F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS3445C |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of EOT / HOT cranes, Goliath cranes, Jib cranes and Hoists. |
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|
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 77000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. There is dip in sales and profit of the company in the year 2013.
However, overall financial position of the company is decent. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered normal for business dealing 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 |
|
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.
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 : |
Sneha Yadav |
|
Designation : |
Assistant Account Executive |
|
Contact No.: |
91-22-27692401 |
|
Date : |
19.03.2014 |
LOCATIONS
|
Registered Office : |
B-4/603, Vikas Complex, Old Agra Road, Thane – 400001, Maharashtra,
India |
|
Tel. No. : |
91-22-27692401/ 27692768 |
|
Fax No. : |
91-22-27690746/ 27692768 |
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E-Mail : |
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|
Website : |
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Location : |
Owned |
|
|
|
|
Factory: |
R-636, TTC, MIDC Area, Rabale, Navi Mumbai – 400701, Maharashtra,
India |
|
Tel. No. : |
91-22-27692401/ 27692768 |
|
Fax No. : |
91-22-27690746/ 27692768 |
|
E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Sudhir Sadashiv Barve |
|
Designation : |
Director |
|
Address : |
403, Dhairya CHS, S.V. Road, Thane (West), Thane – 400602,
Maharashtra, India |
|
Date of Birth/Age : |
20.04.1959 |
|
Date of Appointment : |
23.01.1990 |
|
DIN No. : |
00187481 |
|
|
|
|
Name : |
Mr. Shirish Bhaskar Palshikar |
|
Designation : |
Director |
|
Address : |
B-4/603, Vikas Complex, Old Agra Road, Thane – 400601, Maharashtra,
India |
|
Date of Birth/Age : |
23.02.1960 |
|
Date of Appointment : |
23.01.1990 |
|
DIN No. : |
00187391 |
KEY EXECUTIVES
|
Name : |
Sneha Yadav |
|
Designation : |
Assistant Account Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Shirish Bhaskar Palshikar |
950 |
9.50 |
|
Sudhir Sadashiv Barve |
950 |
9.50 |
|
Pratima S Palshikar |
4050 |
40.50 |
|
Vandana Sudhir Barve |
4050 |
40.50 |
|
Total |
10000 |
100.00 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of EOT / HOT cranes, Goliath cranes, Jib
cranes and Hoists. |
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|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
· Dubai · Oman · Quatar |
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Terms : |
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Selling : |
Cash, Cheque and Credit |
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Purchasing : |
Cash, Cheque and Credit |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||||||||||||||||||||
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Bankers : |
TJSB Sahakari Bank Limited, Anant Laxmi Chambers, Naupada, Thane - 400602, Maharashtra, India |
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Facilities : |
NOTE LONG TERM
BORROWINGS 1. Term loan M-140
is secured against Land and Building at Rabale MIDC and collaterally secured against : a. Land and Building at R-636, MIDC, Rabale Navi Mumbai. b. Flat no. 603 at Vikas Complex in the name of Director Shri Shirish Palshikar. c. Flat no. 902. Vasant Lawns in the name of Director Shri Sudhir Barve. d. Flat no. 1201, Vasant Lawns. e. Property at B-39 MIDC Mangaon to be continue as collateral security covering total exposures. 2. Term loan M-174
is secured against properties at : a. R-636 MIDC, Rabale, Navi Mumbai. b. R-636/1 MIDC, Rabale, Navi Mumbai. c. Plot no. B-39, Bhagad Ind Area, Village Yelawade, Mangaon, MIDC. 3. Loan from TATA
Motors Ltd. Is secured against TATA ACE 4. Term loans from
bank is personally guaranteed by Directors. a. Mr. Shirish Palshikar b. Mr. Sudhir S. Barve SHORT TERM
BORROWINGS Cash Credit A/c 315 is secured against hypothecation of stock, book debts and Machinery. ODD/ 8239 is secured against hypothecation of Fixed
Deposits. |
|
Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Joshi and Karandikar Chartered Accountants |
|
Address : |
6, New Vaishali CHS, S. V. Road, Thane – 400602, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFJ9154G |
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|
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Entities in which
Key Management Personnel are interested: |
Powerlift Equipment’s Private Limited |
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|
|
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Sisters Concern : |
Silver Line, Dubai |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000 |
Equity Shares |
Rs.100/- each |
Rs. 1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000 |
Equity Shares |
Rs.100/- each |
Rs. 1.000 Million |
|
|
|
|
|
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 |
1.000 |
1.000 |
1.000 |
|
(b) Reserves & Surplus |
18.107 |
15.049 |
11.164 |
|
(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) |
19.107 |
16.049 |
12.164 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
23.372 |
19.640 |
15.844 |
|
(b) Deferred tax liabilities (Net) |
0.120 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
23.492 |
19.640 |
15.844 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
33.098 |
32.433 |
26.955 |
|
(b) Trade
payables |
42.102 |
49.269 |
29.921 |
|
(c) Other
current liabilities |
15.437 |
14.988 |
6.641 |
|
(d) Short-term
provisions |
0.291 |
0.178 |
0.144 |
|
Total Current
Liabilities (4) |
90.928 |
96.868 |
63.661 |
|
|
|
|
|
|
TOTAL |
133.527 |
132.557 |
91.669 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
42.965 |
28.708 |
28.895 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
9.967 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
6.267 |
5.967 |
5.867 |
|
(c) Deferred tax assets (net) |
0.000 |
0.087 |
0.054 |
|
(d) Long-term Loan and Advances |
0.259 |
0.383 |
0.483 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
49.491 |
45.112 |
35.299 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
34.123 |
17.121 |
15.776 |
|
(c) Trade
receivables |
34.537 |
58.784 |
33.931 |
|
(d) Cash
and cash equivalents |
10.227 |
7.645 |
5.900 |
|
(e) Short-term
loans and advances |
0.875 |
0.209 |
0.642 |
|
(f) Other
current assets |
4.274 |
3.686 |
0.121 |
|
Total
Current Assets |
84.036 |
87.445 |
56.370 |
|
|
|
|
|
|
TOTAL |
133.527 |
132.557 |
91.669 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
101.109 |
139.632 |
84.350 |
|
|
|
Other Income |
0.885 |
1.512 |
1.650 |
|
|
|
TOTAL (A) |
101.994 |
141.144 |
86.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
83.752 |
103.234 |
65.247 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(19.128) |
3.216 |
(7.223) |
|
|
|
Employees benefits expense |
7.797 |
7.651 |
7.476 |
|
|
|
Prior Period Item |
1.072 |
0.000 |
0.000 |
|
|
|
Other expenses |
15.628 |
14.241 |
11.607 |
|
|
|
TOTAL (B) |
89.121 |
128.342 |
77.107 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
12.873 |
12.802 |
8.893 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.846 |
6.422 |
4.461 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.027 |
6.380 |
4.432 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.484 |
0.716 |
0.871 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
4.543 |
5.664 |
3.561 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.475 |
1.769 |
1.158 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
3.068 |
3.895 |
2.403 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sales |
4.477 |
0.071 |
0.000 |
|
|
TOTAL EARNINGS |
4.477 |
0.071 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
307.00 |
390.00 |
240.00 |
|
Expected Sales (2013-2014) : Rs. 150.000 Millions
The above information has been parted by Sneha Yadav (Assistant Account
Executive).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.01 |
2.76 |
2.79 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.49 |
4.06 |
4.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.57 |
4.86 |
4.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.35 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.96 |
3.24 |
3.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.92 |
0.90 |
0.89 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
1.000 |
1.000 |
1.000 |
|
Reserves & Surplus |
11.164 |
15.049 |
18.107 |
|
Net
worth |
12.164 |
16.049 |
19.107 |
|
|
|
|
|
|
long-term borrowings |
15.844 |
19.640 |
23.372 |
|
Short term borrowings |
26.955 |
32.433 |
33.098 |
|
Total
borrowings |
42.799 |
52.073 |
56.470 |
|
Debt/Equity
ratio |
3.518 |
3.245 |
2.955 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
84.350 |
139.632 |
101.109 |
|
|
|
65.539 |
(27.589) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
84.350 |
139.632 |
101.109 |
|
Profit |
2.403 |
3.895 |
3.068 |
|
|
2.85% |
2.79% |
3.03% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
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 |
----- |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10365454 |
13/06/2012 |
22,400,000.00 |
TJSB SAHAKARI BANK LIMITED |
MADHUMALTI, VEER SAVARKAR PATH, THANE - 400601, MAHARASHTRA, INDIA |
B43620582 |
|
2 |
10352914 |
11/01/2013 * |
10,000,000.00 |
TJSB SAHAKARI BANK LIMITED |
MAIN BRANCH, MADHUMALTI, VEER SAVARKAR, PATH, THANE - 400601, MAHARASHTRA, INDIA |
B66833146 |
|
3 |
10320626 |
19/10/2011 |
22,400,000.00 |
THE THANE JANATA SAHAKARI BANK LIMITED |
MAIN BRANCH, MADHUMALTI, VEER SAVARKAR, PATH, THANE - 400601, MAHARASHTRA, INDIA |
B26601153 |
|
4 |
10266288 |
30/06/2010 |
22,400,000.00 |
THE THANE JANATA SAHAKARI BANK LIMITED |
MAIN BRANCH, MADHUMALTI, VEER SAVARKAR, PATH, THANE - 400601, MAHARASHTRA, INDIA |
A93023943 |
|
5 |
10135718 |
15/04/2008 |
1,200,000.00 |
THE THANE JANATA SAHAKARI BANK LIMITED |
MAIN BRANCH, MADHUMALTI, VEER SAVARKAR, PATH, THANE - 400601, MAHARASHTRA, INDIA |
A41929076 |
|
6 |
10006990 |
19/05/2006 |
547,000.00 |
THE THANE JANATA SAHAKARI BANK LTD |
MAN BRANCH, MADHUMALATI, V. S. PATH, JAMBHALINAKA, THANE (WEST), THANE - 400601, MAHARASHTRA, INDIA |
A01439009 |
|
7 |
90145108 |
05/04/2004 |
100,000.00 |
THE THANE JANATA SAHAKARI BANK LTD. |
MAIN BRANCH, THANE, MAHARASHTRA, INDIA |
- |
|
8 |
90144847 |
15/12/2003 |
700,000.00 |
THE THANE JANATA SAHAKARI BANK LTD. |
MAIN BRANCH, THANE, MAHARASHTRA, INDIA |
- |
|
9 |
90146226 |
23/10/2001 |
636,000.00 |
THE THANE JANATA SAHAKARI BANK LTD. |
DEEN DAYAL BHAVAN, THANE, MAHARASHTRA - 411009, INDIA |
- |
|
10 |
90142479 |
26/07/1999 |
269,000.00 |
THE THANE JANATA SAHAKARI BANK LTD. |
DEEN DAYAL BHAVAN, THANE, MAHARASHTRA - 411009, IN |
- |
|
11 |
90142476 |
24/07/1999 |
374,000.00 |
THE THANE JANATA SAHAKARI BANK LTD. |
DEEN DAYAL BHAVAN, THANE, MAHARASHTRA - 411009, IN |
- |
|
12 |
90142426 |
05/07/2013 * |
31,500,000.00 |
TJSB SAHAKARI BANK LIMITED |
MAIN BRANCH, MADHUMALTI, VEER SAVARKAR, PATH,, TH |
B80297641 |
|
13 |
90146009 |
25/10/2013 * |
45,000,000.00 |
TJSB SAHAKARI BANK LIMITED |
ANANT LAXMI CHAMBERS,, NAUPADA, THANE, MAHARASHTR |
B88559463 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advances
from related parties |
|
|
|
Vandana S. Barve |
0.000 |
0.850 |
|
Sudhir S. Barve |
1.200 |
1.800 |
|
Total |
1.200 |
2.650 |
COMPANY
BACKGROUND
The company is primarily engaged in manufacturing of EOT / HOT cranes, Goliath cranes, Jib cranes and Hoists.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
In respect of Bank Guarantee / Warranties given to parties |
31.014 |
30.518 |
|
Differential sales tax liability in respect of OMS sales not supported by C & D form for the financial year: |
|
|
|
2009-10 |
0.003 |
0.003 |
|
2010-11 |
0.696 |
0.851 |
|
2011-12 |
0.052 |
0.000 |
|
Property Tax payable to Navi Mumbai Municipal Corporation which is under dispute in the supreme Court. |
0.000 |
0.931 |
|
Total |
31.765 |
32.303 |
FIXED ASSETS
· Land Leasehold
· Building
· Plant and Equipment
· Furnitures and Fixtures
· Vehicles
· Office Equipment
· Computers
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.61.13 |
|
|
1 |
Rs.101.17 |
|
Euro |
1 |
Rs.84.59 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.