MIRA
INFORM REPORT
|
Report Date : |
05.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
L AND T SHIPBUILDING LIMITED |
|
|
|
|
Registered
Office : |
Ground Floor, TC – 1, Building, L and T Construction Complex, Mount
Poonamallee Road, Manapakkam, Chennai – 600089, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
13.11.2007 |
|
|
|
|
Com. Reg. No.: |
18-065356 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.8440.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900TN2007PLC065356 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture, repair and maintenance of marine vessels and
port services. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (76) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 43000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a joint venture project between L & T and Tamilnadu
Industrial Development Corporation Limited (TIDCO), a Government of Tamilnadu
Enterprise with respective shareholding of 97% and 3%. It is an established company having a fine track. The company has incurred a loss from its operations during 2013. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be regular and as per commitments. In view of strong holding company, the subject 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects positive
impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab Emirates
().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
NCD: AAA (SO) |
|
Rating Explanation |
Have the highest degree of safety and carry lowest credit risk. |
|
Date |
February 2014 |
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 BY
|
Name : |
Ms. Preeti |
|
Designation : |
Accountant |
|
Contact No.: |
91-44-22706603 |
|
Date : |
03.05.2014 |
LOCATIONS
|
Registered Office / Corporate Office: |
Ground Floor, TC – 1, Building, L and T Construction Complex, Mount Poonamallee
Road, Manapakkam, Chennai – 600089, Tamilnadu, India |
|
Tel. No.: |
91-44-22706603/3346400 |
|
Fax No.: |
91-44-33464100 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 11.09.2013
|
Name : |
Mr. Krishnamurthy Venkatesh |
|
Designation : |
Director |
|
Address : |
ECC Apartment, 36 CBN Reddy Road, T Nagar, Chennai – 600017,
Tamilnadu, India |
|
Date of Birth/Age : |
30.01.1957 |
|
Date of Appointment : |
25.03.2008 |
|
DIN No.: |
00240086 |
|
|
|
|
Name : |
Mr. Anil Thapliyal |
|
Designation : |
Director |
|
Address : |
27/11, Vasant Vihar, Phase – II, P.O New Forest Dehradun – 248001,
Uttaranchal, India |
|
Date of Birth/Age : |
25.02.1955 |
|
Date of Appointment : |
18.01.2013 |
|
DIN No.: |
06477454 |
|
|
|
|
Name : |
Mr. Hansraj Varma |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
29 Nas Garden Korattur Agaraharam, Chennai – 600076, Tamilnadu, India |
|
Date of Birth/Age : |
30.05.1964 |
|
Date of Appointment : |
10.01.2013 |
|
DIN No.: |
00130877 |
KEY EXECUTIVES
|
Name : |
Ms. Preeti |
|
Designation : |
Accountant |
|
|
|
|
Name : |
Mr. N S Abhishek |
|
Designation : |
Company Secretary |
|
Address : |
New No. 10, Old No. 11, Nagathamman Koil Street Extn, Ashok Nagar,
Chennai – 600006, Tamilnadu, India |
|
Date of Birth/Age : |
18.07.1984 |
|
Date of Appointment : |
20.08.2013 |
|
PAN No.: |
AMFPA2603N |
|
|
|
|
Name : |
Mr. Harishikesh Narasimhan |
|
Designation : |
Manager |
|
Address : |
Flat C, Sai Vilas, 9/6, 2nd Canal Cross Raod, Gandinagar, Adyar,
Chennai – 600020, Tamilnadu, India |
|
Date of Birth/Age : |
22.02.1963 |
|
Date of Appointment : |
10.01.2013 |
|
PAN No.: |
AABPH4638J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 11.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Larsen and Toubro Limited, India |
|
818679994 |
|
Ramanathan Chandrasekaran Jointly with Larsen and Toubro Limited,
India |
|
1 |
|
Rajendran Balakrishnan Urikouth Jointly with Larsen and Toubro
Limited, India |
|
1 |
|
Shailendra Narain Jointly with Larsen and Toubro Limited, India |
|
1 |
|
Prakash Ramesh Prabhu Jointly with Larsen and Toubro Limited, India |
|
1 |
|
Ramanuja Venkatesh Jointly with Larsen and Toubro Limited, India |
|
1 |
|
Tamilnadu Instrial Development Corporation, India |
|
25320000 |
|
Krishnamurthy Venkatesh Jointly with Larsen and Toubro Limited, India |
|
1 |
|
Total |
|
844000000 |
Equity Share Break up (Percentage of Total Equity)
As on 11.09.2013
|
Category |
Percentage |
|
Government
(Central and state) |
3.00 |
|
Directors or relatives of Directors |
97.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture, repair and maintenance of marine vessels and
port services. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
State Bank of India, Cag Branch, Iii Floor, 18/3, Sigappi Achi
Building, Rukmini Lakshmipathi Road, Egmore, Chennai - 600008, Tamil Nadu,
India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institute: |
· SBICAP Trustee Company Limited, 202, Maker Tower, 'E', Cuffe Parade, Colaba, Mumbai - 400005, Maharashtra, India ·
IDBI Trusteeship Services Limited, Asian
Building, Ground Floor, 17, B. Kamani Marg, Ballard Estate, Mumbai - 400001,
Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Sharp and Tannan Chartered Accountants |
|
Address : |
Parsn Manere, Block A-4, III Floor, 602 Anna Salai,
Chennai – 600006, Tamilnadu, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFS2512D |
|
|
|
|
Ultimate Holding
company: |
· Larsen and Toubro Limited, India [L99999MH1946PLC004768] |
|
|
|
|
Fellow Subsidiary
company: |
· L and T Infrastructure Development Projects Limited, India [U65993TN2001PLC046691] · L and T Infrastructure Finance Company Limited, India [U67190TN2006PLC059527] · L and T Realty Limited, India [U74200MH2007PLC176358] |
CAPITAL STRUCTURE
AFTER 11.09.2013
Authorised Capital : Rs. 17000.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 9340.000
Millions
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1300000000 |
Equity Shares |
Rs.10/- each |
Rs. 13000.000 Millions |
|
400000000 |
Preference Shares |
Rs.10/- each |
Rs. 4000.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 17000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
844000000 |
Equity Shares |
Rs.10/- each |
Rs. 8440.000 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 |
8440.000 |
0.500 |
0.500 |
|
(b) Reserves & Surplus |
(2021.157) |
(55.788) |
(32.076) |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
4218.600 |
8778.100 |
6230.800 |
|
Total
Shareholders’ Funds (1) + (2) |
10637.443 |
8722.812 |
6199.224 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
26810.000 |
22174.208 |
10874.100 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
785.466 |
729.889 |
0.000 |
|
(d) long-term provisions |
13.272 |
1.555 |
0.000 |
|
Total
Non-current Liabilities (3) |
27608.738 |
22905.652 |
10874.100 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
726.628 |
0.000 |
0.000 |
|
(b) Trade payables |
52.660 |
0.000 |
0.000 |
|
(c) Other current liabilities |
3287.518 |
1141.648 |
1895.202 |
|
(d) Short-term provisions |
1.347 |
14.381 |
8.720 |
|
Total
Current Liabilities (4) |
4068.153 |
1156.029 |
1903.922 |
|
|
|
|
|
|
TOTAL |
42314.334 |
32784.493 |
18977.246 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
38,855.479 |
2,847.179 |
2,807.939 |
|
(ii) Intangible Assets |
78.129 |
30.551 |
19.415 |
|
(iii) Capital work-in-progress |
293.784 |
28,549.257 |
14,934.664 |
|
(iv) Intangible assets under
development |
0.000 |
13.861 |
11.364 |
|
(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 |
191.172 |
676.816 |
928.962 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
39418.564 |
32117.664 |
18702.344 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
823.833 |
0.000 |
0.000 |
|
(b) Inventories |
8.631 |
397.032 |
40.047 |
|
(c) Trade receivables |
269.357 |
0.000 |
0.000 |
|
(d) Cash and cash equivalents |
182.750 |
244.184 |
232.352 |
|
(e) Short-term loans and
advances |
861.534 |
25.613 |
2.503 |
|
(f) Other current assets |
749.665 |
0.000 |
0.000 |
|
Total
Current Assets |
2895.770 |
666.829 |
274.902 |
|
|
|
|
|
|
TOTAL |
42314.334 |
32784.493 |
18977.246 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
1048.232 |
0.000 |
0.000 |
|
|
Other Income |
116.091 |
41.454 |
26.329 |
|
|
TOTAL
(A) |
1164.323 |
41.454 |
26.329 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
895.229 |
0.000 |
0.000 |
|
|
Purchases of Stock-in-Trade |
75.737 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Employees benefits expense |
293.096 |
25.406 |
0.000 |
|
|
Other expenses |
633.959 |
25.563 |
27.268 |
|
|
TOTAL
(B) |
1,898.021 |
50.969 |
27.268 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(733.698) |
(9.515) |
(0.939) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
676.230 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(1409.928) |
(9.515) |
(0.939) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
555.441 |
0.747 |
0.025 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(1965.369) |
(10.262) |
(0.964) |
|
|
|
|
|
|
|
Less |
TAX
(I) |
0.000 |
13.450 |
8.720 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
(1965.369) |
(23.712) |
(9.684) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
(55.788) |
(32.076) |
(22.392) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
(2021.157) |
(55.788) |
(32.076) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(3.62) |
(474.24) |
(193.68) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(168.80)
|
(57.20) |
(36.78) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(187.49)
|
(24.76) |
(3.66) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.68)
|
(0.24) |
(0.02) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.18)
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.59
|
2.54 |
1.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.71
|
0.58 |
0.14 |
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 |
0.500 |
0.500 |
8,440.000 |
|
Reserves & Surplus |
(32.076) |
(55.788) |
(2,021.157) |
|
Share Application money
pending allotment |
6230.800 |
8778.100 |
4218.600 |
|
Net
worth |
6,199.224 |
8,722.812 |
10,637.443 |
|
|
|
|
|
|
long-term borrowings |
10,874.100 |
22,174.208 |
26,810.000 |
|
Short term borrowings |
0.000 |
0.000 |
726.628 |
|
Total
borrowings |
10,874.100 |
22,174.208 |
27,536.628 |
|
Debt/Equity
ratio |
1.754 |
2.542 |
2.589 |
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 |
0.000 |
0.000 |
1048.232 |
|
|
|
|
|
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 |
0.000 |
0.000 |
1048.232 |
|
Profit |
(9.684) |
(23.712) |
(1965.369) |
|
|
|
|
(187.49%) |
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 |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE: Registered office of the company has been shifted from 2nd Floor, L and T Chennai House, 10 Club House Road, Anna Salai, Chennai – 600002, Tamilnadu, India to the present address w.e.f. 09.08.2012
PERFORMANCE OF THE
COMPANY
The Company is a Developer of a Heavy Engineering sector specific Special Economic Zone (SEZ) at Kattupalli, Ponneri taluk, Tiruvallur District and was notified over an area of 607.89 hectares under the Special Economic Zones Act, 2005. The construction of an integrated facility of shipyard-cum-development of minor port of the Company at Kattupalli, Tiruvallur District has been completed with installation and commissioning of machinery and allied facilities. The Kattupalli Shipyard facility is the largest integrated marine complex of its kind in India and is geared for building specialized commercial ships and customized vessels as well as warships and submarines.
A unique facility of the shipyard is an in-house designed Ship lift with lifting capacity of 21,000 tonnes and a transfer mechanism, which enables shipbuilding and ship repairs of several vessels simultaneously. Kattupalli Port,a notified customs port with an initial capacity of 1.2 million TEUs, is geared to offer the shipping industry a whole new dimension of service, speed and sophistication. A Container Freight Station (CFS) facility within the complex offers wide services to the trade and industry and helps in accelerating transit of goods.
During the year, the Company has commenced operations of shipyard and port after receipt of regulatory approvals. The Company has bagged orders valued at Rs 4830.000 Millions for supply of four specialized commercial vessels in the first quarter of 2012-13. The said order, which was secured against stiff international competition, is for design, construction, trials and commissioning of two Platform Supply Vessels (PSVs) and two Anchor Handling, Towing, Supply and Support Vessels (AHTSSVs). The Company has also delivered one Interceptor boat in March 2013. This affirms the Company’s capabilities in building varied vessels.
A leading shipping line had its maiden vessel call at Kattupalli Port in January 2013 and derived maximum benefit from the state-of-the-art port facility.
The Company has received the ISO 14001:2004 certification for Environment Management Systems and OHSAS 18001:2007 certification for Occupational Health and Safety Management Systems. Further, the Company has increased its talent pool to meet the challenges of its growing business opportunities.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Non-convertible debentures |
26810.000 |
0.000 |
|
Loans and advances from others |
0.000 |
1680.000 |
|
Total |
26810.000 |
1680.000 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10479581 |
27/01/2014 |
4,150,000,000.00 |
INDUSIND BANK LIMITED |
2401, GEN.THIMMAYYA ROAD (CANTONMENT), PUNE, MAHARASHTRA - 411001, INDIA |
B97188536 |
|
2 |
10455164 |
23/10/2013 |
13,310,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BLDNG, GROUND FLOOR, 17, B.KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B87517801 |
|
3 |
10400381 |
30/08/2013 * |
6,250,000,000.00 |
STATE BANK OF INDIA |
CAG BRANCH, III FLOOR, 18/3, SIGAPPI ACHI BUILDING, RUKMINI LAKSHMIPATHI ROAD, EGMORE, CHENNAI, TAMIL NADU - 600008, INDIA |
B85585446 |
* Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2013 |
|
Claims against the Company not acknowledged as debts |
388.801 |
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Factory equipments
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Other equipments
Intangible assets
· Computer software
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 records 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.60.23 |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.46 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
|
76 |
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.