MIRA
INFORM REPORT
|
Report Date : |
27.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
R.K.ELECTRIC AUTOMATION LIMITED |
|
|
|
|
Registered
Office : |
Plot No. B1 and B2, IDA, Kukatpally, Gandhi Nagar,
Hyderabad – 500037, Andhra Pradesh |
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|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2013 |
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|
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Date of
Incorporation : |
21.03.1997 |
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|
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Com. Reg. No.: |
01-026710 |
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Capital
Investment / Paid-up Capital : |
Rs.19.950 Millions |
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|
|
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CIN No.: [Company Identification
No.] |
U31900AP1997PLC026710 |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
Line of Business
: |
Providing turnkey electrical infrastructure solutions and engaged in manufacturing
and trading of electrical goods such as LV, MV and HV Panel boards and
related accessories, products/material related to electro mechanical and
automotive. Also engaged in erection, commission and installation services,
annual maintenance contracts and works contract. |
|
|
|
|
No. of Employees
: |
120 (Approximately) |
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 |
|
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. The company’s sales turnover has declined resulting in to dip in
profit of the company in financial year 2013. However, rating reflects RKEAL’s healthy financial risk profile
supported by its sound liquidity profile. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for business dealings at usual trade
terms and condition. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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
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 = BB |
|
Rating Explanation |
Moderate risk of default and high credit
risk |
|
Date |
25.09.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk |
|
Date |
25.09.2013 |
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 : |
Mr. G.V.M. Reddy |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9440606257 |
|
Date : |
25.03.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. B1 and B2, IDA, Kukatpally, Gandhi Nagar,
Hyderabad – 500037, Andhra Pradesh, India |
|
Tel. No.: |
91-40-23720426
/ 27 |
|
Mobile No.: |
91-9440606257 (Mr. G. V. M. Reddy) |
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Fax No.: |
91-40-23075887 |
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E-Mail : |
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Website : |
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Area : |
2400 Sq. Ft |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Krishna Kumar Pamamurthy Sennar |
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Designation : |
Managing Director |
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Address : |
8-2-309/7/1, Road # 14, Banjara Hills, Hyderabad – 500034, Andhra
Pradesh, India |
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Date of Birth/Age : |
22.03.1997 |
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Date of Appointment : |
21.03.1997 |
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DIN No.: |
00466402 |
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Other Directorship:
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Name : |
Mr. Rajiv Krishan Sennar |
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Designation : |
Whole Time Director |
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Address : |
8-2-309/7/1, Road # 14, Banjara Hills, Hyderabad – 500034, Andhra
Pradesh, India |
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Date of Birth/Age : |
21.03.1997 |
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Date of Appointment : |
07.07.2009 |
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DIN No.: |
02727982 |
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Other Directorship:
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Name : |
Mrs. Lalitha Krishnakumar |
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Designation : |
Director |
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Address : |
8-2-309/7/1, Road # 14, Banjara Hills, Hyderabad – 500034, Andhra
Pradesh, India |
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Date of Birth/Age : |
21.01.1981 |
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Date of Appointment : |
21.03.1997 |
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DIN No.: |
00466464 |
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KEY EXECUTIVES
|
Name : |
Mr. G.V.M. Reddy |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
R. Krishnakumar |
|
802820 |
|
Lalitha Krishnakumar |
|
143420 |
|
Akkamamba Koduru |
|
303020 |
|
Ramkrishna Koduru |
|
600000 |
|
Lakshmi Sudha Koduru |
|
20 |
|
A.N. Ramamurthy Naidu |
|
20 |
|
Rajiv Krishna Sennar |
|
95680 |
|
P. Archna |
|
50000 |
|
Sri Ramya Ravipati |
|
20 |
|
Total |
|
1995000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing turnkey electrical infrastructure solutions and engaged in
manufacturing and trading of electrical goods such as LV, MV and HV Panel boards
and related accessories, products/material related to electro mechanical and
automotive. Also engaged in erection, commission and installation services,
annual maintenance contracts and works contract. |
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|
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|
Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash, Cheque and Credit |
GENERAL INFORMATION
|
Suppliers : |
Andhra Sugar Limited |
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Customers : |
·
ABB Limited ·
Schneider Limited ·
Andhra Sugars Limited ·
AP Transco ·
AP Genco ·
Tirupati Tirumala Devasthanams ·
Neyveli Lignite Corporation Limited ·
Photon Energy Systems Limited ·
Akkamamba Textiles Limited ·
Arkay Energy Rameshwaram ·
PSR Green Energy Private Limited ·
Haridwar Infrastructure Private Limited ·
B. Seeniah and Company Projects ·
Base Power Private Limited ·
Chitra Bio-Energy Limited ·
Chattisgarh Electric Company ·
Ganpati Sugar Industries Limited ·
Gautami Bio-Energies Limited ·
Global Oils and Fats Limited ·
GMR Industries Limited ·
Gowthami Spinning Mills Limited ·
Ind-Bharat Powergencom Limited ·
Insil Energy and Electrochemicals Limited ·
Jocil Limited ·
Kalindi Power and Energy Limited ·
Kopal Green Power Limited ·
KMV Projects Limited ·
KVK Bio-Energy Limited ·
KVR Industries Limited ·
Matrix Power Private Limited ·
Natural Bio-Energy Limited ·
Nutrine Confectionery Limited ·
Panyam Cements Limited ·
Patel Engineering Limited ·
Raghu Rama Renewable Energy Limited ·
Rake Power Private Limited ·
Ravikiran Power Projects Limited ·
Raymond Limited ·
Rithwik Power Projects Limited ·
Roshini Power tech Limited ·
Sangam Spinners Limited ·
Saro Power and Infrastructure Limited ·
Shalivahana Power Projects Limited ·
Shalivahana Construction Limited ·
Sri Indra Power Energies Limited ·
Surana Industries Limited ·
Vamshadhara Paper Mills Limited ·
VKG Steels and Power Limited |
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No. of Employees : |
120 (Approximately) |
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Bankers : |
Indian Bank, Srinagar Colony Branch, Hyderabad – 500073, Andhra
Pradesh, India |
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Facilities : |
Fund Base = Rs.3500.000 Millions (From Indian Bank) Non Fund Based = Rs.190.000 Millions (From Indian Bank)
Notes: Long Term Borrowings During the financial year 2011-2012 company has taken vehicle loan
from Axis bank Limited for purpose of a car at an interest rate 9.8% on a monthly
reducing basis repayable in 36 monthly installment of Rs.0.103 Million. The
said loan is secured by way of hypothecation of the same asset on which loan
taken, out of above amount outstanding principle is Rs.0.792 Million and
un-accrued interest id Rs.0.029 Million. Short Term Borrowings Working capital
facilities sanctioned by Indian Bank, Srinagar Colony Branch, Hyderabad –
500073, Andhra Pradesh, India for SOD Rs.35.000 Millions, BG Rs.180.000
Millions (sub limit of Rs.20.000 Millions LC) are secured by factory, land
and building in 2361 Sq yards at Plot No. B1 and B2, IDA, Kukatpally,
Gandhi Nagar, Hyderabad – 500037, Andhra Pradesh, India belonging to company.
Residential house in 1052 sq yards of site in
8-2-309/7/1,
Road # 14, banjara Hills, Hyderabad – 500034, Andhra Pradesh, India belonging
to Shri. Krishnakunmar R Sennar, Managing Director of the company, commercial
falt no. 403, in Diamond House, Door No.6-6-883/d/3, PLOT NO. 117 AT
PURIJAGULTA, hyderabad – 50082 belonging to Smt. Lalitha Krishnakumar Whole
tome director of the company. The said working capital facilities are further secured by way of
collateral security of all stocks of raw material, work in progress, blocks,
book debts below 90 days, factory’s plant and machinery and personal
guarantee of directors. |
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Banking
Relations : |
-- |
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|
Auditors : |
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|
Name : |
Rambabu and Company Chartered Accountants |
|
Address : |
6-3-1090/1/A, Pancom Chambers, Raj Bhavan Road, Somajiguda, Hyderabad –
500082, Andhra Pradesh, India |
|
Tel. No.: |
91-40-23311587 / 23318152 |
|
Fax No.: |
91-40-23397182 |
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E-Mail : |
|
|
PAN No.: |
AAPFR1603G |
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|
|
|
Associate : |
Apollo Energy Services India Private Limited |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1995000 |
Equity Shares |
Rs.10/- each |
Rs.19.950 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
19.950 |
19.950 |
19.950 |
|
(b) Reserves & Surplus |
53.403 |
45.385 |
31.787 |
|
(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) |
73.353 |
65.335 |
51.737 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.821 |
2.053 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
(0.071) |
0.114 |
0.070 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1.710 |
1.405 |
0.952 |
|
Total Non-current Liabilities (3) |
2.460 |
3.572 |
1.022 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
11.395 |
34.830 |
(5.426) |
|
(b) Trade payables |
92.606 |
82.986 |
32.784 |
|
(c) Other current
liabilities |
90.737 |
78.158 |
35.961 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
194.738 |
195.974 |
63.319 |
|
|
|
|
|
|
TOTAL |
270.551 |
264.881 |
116.078 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
18.010 |
19.443 |
12.427 |
|
(ii) Intangible Assets |
0.146 |
0.244 |
0.135 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
5.461 |
1.934 |
1.319 |
|
(e) Other Non-current assets |
1.289 |
0.712 |
0.175 |
|
Total Non-Current Assets |
24.906 |
22.333 |
14.056 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
23.095 |
12.322 |
4.338 |
|
(c) Trade receivables |
153.734 |
104.104 |
49.950 |
|
(d) Cash and cash
equivalents |
50.385 |
106.764 |
40.491 |
|
(e) Short-term loans and
advances |
18.402 |
19.346 |
7.139 |
|
(f) Other current assets |
0.029 |
0.012 |
0.104 |
|
Total Current Assets |
245.645 |
242.548 |
102.022 |
|
|
|
|
|
|
TOTAL |
270.551 |
264.881 |
116.078 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
492.851 |
641.551 |
168.392 |
|
|
|
|
Other Income |
5.549 |
3.958 |
0.488 |
|
|
|
|
TOTAL (A) |
498.400 |
645.509 |
168.880 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
403.850 |
517.466 |
115.616 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(6.789) |
(4.011) |
8.803 |
|
|
|
|
Other manufacturing expenses |
21.941 |
47.250 |
11.582 |
|
|
|
|
Employee Benefits Expenses |
39.276 |
30.847 |
14.311 |
|
|
|
|
Other Expenses |
20.959 |
26.234 |
5.506 |
|
|
|
|
Exceptional Items |
(0.576) |
(0.015) |
(0.380) |
|
|
|
|
TOTAL (B) |
478.661 |
617.771 |
155.438 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
19.739 |
27.738 |
13.442 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
4.432 |
4.191 |
2.225 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
15.307 |
23.547 |
11.217 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
3.674 |
2.608 |
1.835 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
11.633 |
20.939 |
9.382 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
3.614 |
7.341 |
2.911 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
8.019 |
13.598 |
6.471 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
24.278 |
15.680 |
11.709 |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Transfer to General Reserve |
2.500 |
5.000 |
2.500 |
|
|
|
BALANCE CARRIED
TO THE B/S |
29.797 |
24.278 |
15.680 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
4.02 |
6.82 |
3.24 |
||
Expected Sales: Rs.500.000 Millions
Above information has been parted by Mr. G.V.M. Reddy, Accounts Manager
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.61 |
2.11 |
3.83 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.36 |
3.26 |
5.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.30 |
7.91 |
8.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.32 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.17 |
0.56 |
(0.10) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26 |
1.24 |
1.61 |
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 |
19.950 |
19.950 |
19.950 |
|
Reserves & Surplus |
31.787 |
45.385 |
53.403 |
|
Net
worth |
51.737 |
65.335 |
73.353 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
2.053 |
0.821 |
|
Short term borrowings |
(5.426) |
34.830 |
11.395 |
|
Total
borrowings |
(5.426) |
36.883 |
12.216 |
|
Debt/Equity
ratio |
(0.105 |
0.565 |
0.167 |
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 |
168.392 |
641.551 |
492.851 |
|
|
|
280.987 |
(23.178) |
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
|
168.392 |
641.551 |
492.851 |
|
Profit |
6.471 |
13.598 |
8.019 |
|
|
3.84% |
2.12% |
1.63% |
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 |
Yes |
|
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
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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
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 |
Yes |
COMPANY
INFORMATION:
Subject was incorporated in the year 1997 as an independent electrical
infrastructure company that provides clients with turnkey electrical
infrastructure solutions and engaged in manufacturing and trading of electrical
goods such as LV, MV and HV Panel boards and related accessories,
products/material related to electro mechanical and automotive. Also engaged in
erection, commission and installation services, annual maintenance contracts
and works contract. The company carrying activities from its registered office
situated at Plot No. B1 and B2, Road No.5, IDA Kukatpally, Gandhi Nagar,
Hyderabad – 500037, Andhra Pradesh, India.
PERFORMANCE:
The company has earned a total income of Rs.498.400 Millions and earned
a profit of Rs.8.018 Millions as compared to the turnover of Rs.645.509
Millions and profit of Rs.13.599 Millions for the F.Y. 2011-2012.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90128228 |
07/03/2014 * |
285,000,000.00 |
Indian Bank |
Srinagar Colony Branch, Hyderabad,
Hyderabad, Andhra Pradesh - 500073, India |
C00119727 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.17 |
|
|
1 |
Rs.99.39 |
|
Euro |
1 |
Rs.83.09 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Report Prepared
by : |
VNT |
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 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
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.