MIRA INFORM REPORT
|
Report Date : |
14.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
DIAMOND ENGINEERING (CHENNAI) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Door No. 501, Vandalur- Kelambakkam
Main Road, Mambakkam, Chennai
– 600127, Tamil Nadu |
|
|
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|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
31.03.1997 |
|
|
|
|
Com. Reg. No.: |
18-037853 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29113TN1997PTC037853 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 500.000 Millions |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHED04008E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD3949E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Manufacture and supplier of
steel fabricated structurals, equipments and heavy machining for
Cement, Oil and Gas, Mining, Power, Petrochemical and Automotive Plants. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4550000 |
|
|
|
|
Status : |
Moderate |
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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 moderate track. There is a drastic dip in sales and profit of the company in the year
2013. Profitability of the company is low. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business with some cautions. |
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 |
CRSIL |
|
Rating |
Long term rating = B- |
|
Rating Explanation |
Prone credit quality and very high credit risk |
|
Date |
February 2014. |
|
Rating Agency Name |
CRSIL |
|
Rating |
Short term rating = A4 |
|
Rating Explanation |
Minimal degree of safety and very high 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 DENIED BY
|
Name : |
Mr. Din Dayal |
|
Designation : |
Accounts Executives |
|
Contact No.: |
91-9940624123 |
|
Date : |
12.05.2014 |
LOCATIONS
|
Registered Office : |
Door No. 501, Vandalur- Kelambakkam
Main Road, Mambakkam, Chennai
– 600127, Tamil Nadu, India |
|
Tel. No.: |
91-44-27479150 / 27479151 / 27479149 / 24501550 |
|
Contact No.: |
91-9940624123 (Mr. Din Dayal) |
|
Fax No.: |
91-44-27479152 / 24501820 |
|
E-Mail : |
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Website : |
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Factory 1 : |
Emerald
Engineering (Unit – I) No. 41, Pudhupakkam Village, Kalambakkam – Vandalur Main Road,
Kanchipuram District, Chennai-603103, Tamil Nadu, India |
|
Tel. No.: |
91-44-27474789/ 27475720/ 27475721 |
|
Fax No.: |
91-44-27474066 |
|
E-Mail : |
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|
|
|
|
Factory 2 : |
Emerald
Engineering (Unit – II) Survey No. 128A, Mambakkam Village, Kelambakkam- Vandalur Main Road,
Kanchipuram District, Chennai-600048, Tamil Nadu, India |
|
Tel. No.: |
91-44-27479149/ 27479150/ 27479151 |
|
Fax No.: |
91-44-27479152 |
|
E-Mail : |
|
|
|
|
|
Branch Office 1 : |
Topaz
Engineering No. 210, |
|
Tel. No.: |
91-44-24503429 |
|
|
|
|
Branch Office 2 : |
Ruby |
|
Tel. No.: |
91-44-27498880/ 27498881/ 27498882 |
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E-Mail : |
DIRECTORS
(AS ON 28.09.2013)
|
Name : |
Mr. Paduvamani Nadar Mohanraj |
|
Designation : |
Managing Director |
|
Address : |
No. 12, Zahir Hussain Street, Kuppam Road, Near VGP Garden Beach,
Panayur, Chennai-600119, Tamil Nadu,
India |
|
Date of Birth/Age : |
01.06.1958 |
|
Date of Appointment : |
31.03.1997 |
|
PAN No.: |
AANPM0999H |
|
DIN No.: |
01871070 |
|
|
|
|
Name : |
Mr. Paduvamani Danaraj |
|
Designation : |
Whole Time Director |
|
Address : |
No. 1, Nehru Street, Old Mahabalipuram Road, Sholinganallur,
Chennai-600119, Tamil Nadu, India |
|
Date of Birth/Age : |
17.06.1960 |
|
Date of Appointment : |
31.03.1997 |
|
PAN No.: |
AAHPD9817H |
|
DIN No.: |
02356800 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 28.09.2013)
|
Name of Shareholders |
|
No. of Shares Allotted |
|
|
|
|
|
P Mohanraj |
|
45000000 |
|
P Dhanaraj |
|
5000000 |
|
|
|
|
|
Total |
|
50000000 |
(AS ON 28.09.2013)
Equity Share Breakup (Percentage of Total Equity)
|
Category |
|
Percentage of
Holding |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total |
|
100.00 |
%20PRIVATE%20LIMITED%20-%20266799%2014-May-2014_files/image019.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacture and supplier of
steel fabricated structurals, equipments and heavy machining for
Cement, Oil and Gas, Mining, Power, Petrochemical and Automotive Plants. |
GENERAL INFORMATION
|
No. of Employees
: |
Information declined by the management. |
|||||||||||||||||||||||||||
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Bankers : |
·
Canara Bank Kasturba Nagar Branch, Adyar, Chennai
- 600020, Tamil Nadu, India ·
Axis Bank Limited Corporate Banking Branch,
Karumuthu Nilayam, No.192, Anna Salai, Chennai - 600002, Tamil Nadu, India ·
State Bank of India Leather and International
Branch, "MVJ Towers', No.177/1, P.H. Road, Kilpauk,, Chennai - 600010,
Tamil Nadu, India ·
HDFC Bank Limited, HDFC House Senapati bapat
marg, Lower Parel, Mumbai – 400013, Maharashtra, India ·
Kotak Mahindra bank, 36-38A, Nariman Bhavan, 227
D, Mariman Point, Mumbai – 400021, Maharashtra, India |
|||||||||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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Financial
Institutions: |
Tata Capital Limited, one Forbes, Dr. V B Gandhi Marg, Fort, Mumbai –
400001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Krishnan and Chettiappan Chartered Accountant |
|
Address : |
First Floor, No. 25, |
|
Tel. No.: |
91-44-28132365 |
|
Fax No.: |
91-44-28133625 |
|
PAN No.: |
AABPC1053E |
|
E-Mail : |
CAPITAL STRUCTURE
(AS ON 28.09.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 500.000 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 |
500.000 |
500.000 |
500.000 |
|
(b) Reserves & Surplus |
576.466 |
573.007 |
501.436 |
|
(c) Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
60.000 |
60.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1,136.466 |
1,133.007 |
1,001.436 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
446.095 |
528.254 |
610.722 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
1.347 |
95.438 |
110.967 |
|
(d) long-term provisions |
8.069 |
8.109 |
8.109 |
|
Total
Non-current Liabilities (3) |
455.511 |
631.801 |
729.798 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2,122.285 |
1,445.856 |
1,886.428 |
|
(b) Trade payables |
1,444.689 |
2,048.999 |
1,469.323 |
|
(c) Other current liabilities |
681.383 |
262.433 |
122.686 |
|
(d) Short-term provisions |
6.272 |
57.761 |
62.612 |
|
Total
Current Liabilities (4) |
4,254.629 |
3,815.049 |
3,541.049 |
|
|
|
|
|
|
TOTAL |
5,846.606 |
5,579.857 |
5,272.283 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1,525.524 |
1,408.999 |
1,340.120 |
|
(ii) Intangible Assets |
0.361 |
0.445 |
0.601 |
|
(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 |
1.360 |
1.360 |
1.000 |
|
(c) Deferred tax assets (net) |
9.271 |
9.163 |
12.332 |
|
(d) Long-term Loan and Advances |
17.738 |
18.999 |
18.034 |
|
(e) Other Non-current assets |
6.564 |
5.092 |
3.137 |
|
Total
Non-Current Assets |
1,560.818 |
1,444.058 |
1,375.224 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3,230.394 |
2,971.143 |
2,508.405 |
|
(c) Trade receivables |
677.062 |
698.334 |
816.702 |
|
(d) Cash and cash equivalents |
0.782 |
22.993 |
24.802 |
|
(e) Short-term loans and
advances |
377.550 |
443.329 |
547.150 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
4,285.788 |
4,135.799 |
3,897.059 |
|
|
|
|
|
|
TOTAL |
5,846.606 |
5,579.857 |
5,272.283 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
2686.100 |
3352.400 |
3033.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
124.700 |
223.000 |
310.100 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
3.500 |
76.600 |
129.300 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.07 |
1.53 |
-- |
|
%20PRIVATE%20LIMITED%20-%20266799%2014-May-2014_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20266799%2014-May-2014_files/image004.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20266799%2014-May-2014_files/image005.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20266799%2014-May-2014_files/image006.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20266799%2014-May-2014_files/image007.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20266799%2014-May-2014_files/image008.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.13 |
2.28 |
4.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.26
|
1.74
|
2.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.00 |
1.08 |
1.10 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
500.000 |
500.000 |
500.000 |
|
Reserves & Surplus |
501.436 |
573.007 |
576.466 |
|
Share Application
money pending allotment |
0.000 |
60.000 |
60.000 |
|
Net
worth |
1,001.436 |
1,133.007 |
1,136.466 |
|
|
|
|
|
|
long-term borrowings |
610.722 |
528.254 |
446.095 |
|
Short term borrowings |
1,886.428 |
1,445.856 |
2,122.285 |
|
Total
borrowings |
2,497.150 |
1,974.110 |
2,568.380 |
|
Debt/Equity
ratio |
2.494 |
1.742 |
2.260 |
%20PRIVATE%20LIMITED%20-%20266799%2014-May-2014_files/image021.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Total Income |
3033.200 |
3352.400 |
2686.100 |
|
|
|
10.524 |
(19.875) |
%20PRIVATE%20LIMITED%20-%20266799%2014-May-2014_files/image023.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Total Income |
3033.200 |
3352.400 |
2686.100 |
|
Profit After Tax |
129.300 |
76.600 |
3.500 |
|
|
4.26% |
2.28% |
0.13% |
%20PRIVATE%20LIMITED%20-%20266799%2014-May-2014_files/image025.gif)
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 |
No |
|
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 |
Yes |
|
33] |
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
UNSEUCRED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Rupee term loans from others |
302.195 |
0.000 |
|
Loans and advances from directors
|
5.936 |
14.582 |
|
Loans and advances from others |
12.572 |
14.372 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Rupee term loans from bank |
0.000 |
106.826 |
|
Term loans from others |
99.889 |
0.000 |
|
Total |
420.592 |
135.780 |
Note :
The registered office of the company has been shifted from 179, Old
Mahabalipuram Road, Sholinganallur, Chennai - 600119, Tamil Nadu, India to the present
address w.e.f. 01.11.2013.
PERFORMANCE:
The year under
report is a yet another sluggish year. During the year, the Company could
achieve only a reduced turnover of Rs.2686.100
Millions only. Though the Global recession affected very much
the Company’s performance, still the company had competitive export performance
and hence it had achieved an Export turnover
of Rs.1140.500 Millions. In Domestic front since the demand for
capital goods are still very sluggish due to various unfavourable economic
factors, the company could achieve a turnover of about Rs.1465.500 Millions only.
However, the company earned a decent Net
Profit of Rs.124.700 Millions before Depreciation and Income Tax
and Rs.3.500 Millions after
Depreciation and Tax provisions.
Current year
performance is so far encouraging and the export orders are pouring in. So far
the Company bagged two prestigious projects from Saipem - Italy fur Dankote
Nigeria for an order value of Rs.3500.000 Millions and are expecting more
orders from them. Hence, the Company can easily achieve a total turnover of
about Rs.4000.000 Millions in the current fiscal.
VIEW INDEX OF
CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10349052 |
21/03/2012 |
33,377,000.00 |
KOTAK MAHINDRA
BANK LIMITED |
36-38a, Nariman
Bhavan, 227 D, Nariman Point,, Mumbai, Maharashtra - 400021, India |
B37369691 |
|
2 |
10255621 |
30/07/2013 * |
503,408,517.00 |
AXIS BANK
LIMITED |
Corporate Banking Branch, Karumuthu
Nilayam,No.192, Anna Salai, Chennai, Tamil Nadu - 600002, India |
B81031981 |
|
3 |
10202617 |
30/01/2010 |
5,000,000.00 |
RELIANCE CAPITAL
LTD |
"H"
Block 1st Floor, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai,
Maharashtra - 400710, India |
A79394409 |
|
4 |
10241251 |
05/09/2009 |
12,000,000.00 |
Axis Bank
Limited |
Trishul 3rd Floor
Opp Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad, Gujarat -380006,
India |
A86866175 |
|
5 |
10118464 |
06/07/2008 |
1,900,000.00 |
ICICI BANK
LIMITED |
Landmarkrace
Cource Circle, Alkapuri, Baroda, Gujarat - 390015, India |
A43945351 |
|
6 |
10016191 |
07/03/2013 * |
257,548,000.00 |
Canara Bank |
Kasturba Nagar
Branch, Adyar, Chennai, Tamil Nadu |
B71526586 |
|
7 |
90289215 |
10/09/2013 * |
1,720,000,000.00 |
State Bank of
India |
Leather & International Branch,,
"MVJ Towers', No |
B88648167 |
|
8 |
90290512 |
19/09/2005 * |
240,000,000.00 |
STATE BANK OF
INDIA |
Leather International Branch, Chennai,
Tamil Nadu |
- |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Crane
·
Computer
·
Electrical Installations
·
Furniture and Fixtures
·
Office Equipments
·
Vehicles
·
Boring and Drilling
Machinery
·
Compressor
·
Cutting and Grinding
Machinery
·
Generator
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.59.88 |
|
|
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.