MIRA
INFORM REPORT
|
Report Date : |
15.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SECO WARWICK ALLIED PRIVATE LIMITED (w.e.f. 23.06.2008) |
|
|
|
|
Formerly Known
As : |
ALLIED CONSULTING ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
5th Floor, Plot No. A/16 and B/8, Road No. 8, Amfotech IT Park,
Wagle Easte, MIDC, Thane (West), Thane – 400604, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
03.01.1973 |
|
|
|
|
Com. Reg. No.: |
11-016218 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 54.088 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74210MH1973PTC016218 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA8938Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Industrial Furnaces.
|
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1400000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Rating reflect above average financial risk profile marked by healthy
liquidity position. Trade relations are reported to be fair. Business is active. Payments are
reported to be usually correct. The company can be considered 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 – 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 |
CRISIL |
|
Rating |
Long term rating: “BBB-” |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
16.09.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A3” |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
16.09.2013 |
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. Sudhir |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-67301400 |
|
Date : |
13.05.2014 |
LOCATIONS
|
Registered Office : |
5th Floor, Plot No. A/16 and B/8, Road No. 8, Amfotech IT Park,
Wagle Easte, MIDC, Thane (West), Thane – 400604, Maharashtra, India |
|
Tel. No.: |
91-22-67301400 |
|
Fax No.: |
91-22-67301488 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1: |
Plot No. A-373, Road No. 27, Wagle Industrial Estate, Thane – 400604,
Maharashtra, India |
|
Tel. No.: |
91-22-25821172 / 25829618 |
|
|
|
|
Factory 2: |
Plot No. 378/8, 327, 556A/2, at village Lahe, Mumbai – Nashik Road,
Taluka Shahapur, District Thane – 421601, Maharashtra, India |
DIRECTORS
As on: 27.06.2013
|
Name : |
Mr. N. Rajgopal |
|
Designation : |
Whole Time Director |
|
Address : |
302, Shanti Apartment, Sarvodaya Nagar, Mulund (West), Mumbai –
400080, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1938 |
|
Date of Appointment : |
01.04.2008 |
|
PAN No.: |
AACPN9861E |
|
DIN No.: |
02232637 |
|
|
|
|
Name : |
Mr. V. N. Nasta |
|
Designation : |
Whole Time Director |
|
Address : |
301, Devkrupa, Mogul Lane, Mahim, Mumbai – 400016, Maharashtra, India |
|
Date of Birth/Age : |
29.06.1941 |
|
Date of Appointment : |
01.04.2008 |
|
PAN No.: |
AACPN3345D |
|
DIN No.: |
01982383 |
|
|
|
|
Name : |
Mr. U. V. Rao |
|
Designation : |
Whole Time Director |
|
Address : |
402, Ashiana, 21, St. Paul Road, Bandra (West), Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/Age : |
20.08.1941 |
|
Date of Appointment : |
01.04.2008 |
|
PAN No.: |
AADPR8881M |
|
DIN No.: |
01967499 |
|
|
|
|
Name : |
Mr. Jeffrey Boswell |
|
Designation : |
Director |
|
Address : |
4002, Spruce, Drive, Cochrantan, Pennsyl Yania – 16314, USA |
|
Date of Birth/Age : |
27.09.1956 |
|
Date of Appointment : |
01.04.2008 |
|
DIN No.: |
02357342 |
|
|
|
|
Name : |
Mr. Pioter Walasek |
|
Designation : |
Director |
|
Address : |
66-200, Swiebodzin, Mickremicza – 23, Poland |
|
Date of Birth/Age : |
20.03.1976 |
|
Date of Appointment : |
01.04.2008 |
|
DIN No.: |
02397756 |
|
|
|
|
Name : |
Mr. Pawel Wyrzykowski |
|
Designation : |
Director |
|
Address : |
UL, Pod Strzecha 6/18, 02-798, Warszawa, Poland |
|
Date of Birth/Age : |
03.02.1969 |
|
Date of Appointment : |
17.11.2012 |
|
DIN No.: |
06522865 |
KEY EXECUTIVES
|
Name : |
Mr. Sudhir |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 27.06.2013
|
Names of Shareholders |
|
No. of Shares |
|
N. Rajgopal |
|
7682 |
|
Priya Nateshkumar |
|
333 |
|
Pushpa Krishna Swami |
|
833 |
|
Nateshkumar Mani |
|
2333 |
|
Nithya Karthik |
|
983 |
|
U. V. Rao |
|
6182 |
|
Mithra V. Rao |
|
2651 |
|
Jaidev V. Rao |
|
1650 |
|
Maithili V. Rao |
|
1660 |
|
V. N. Nasta |
|
7701 |
|
Kailash Nasta |
|
3500 |
|
Veena Nasta |
|
150 |
|
Nikhil Nasta |
|
800 |
|
Seco Warwick S.A. |
|
72892 |
|
|
|
|
|
Total |
|
109350 |
|
Names of Preference share |
|
No. of Shares |
|
N. Rajgopal |
|
58077 |
|
Priya Nateshkumar |
|
1416 |
|
Nateshkumar Mani |
|
4924 |
|
Pushpa Krishna Swami |
|
5940 |
|
Nithya Karthik |
|
3600 |
|
U. V. Rao |
|
47608 |
|
Mithra V. Rao |
|
21202 |
|
Jaidev V. Rao |
|
5148 |
|
V. N. Nasta |
|
44385 |
|
Veena Nasta |
|
15151 |
|
Kailash Nasta |
|
14422 |
|
Seco Warwick S.A. |
|
209654 |
|
|
|
|
|
Total |
|
431527 |
Equity Share Break up (Percentage of Total Equity)
As on: 27.06.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
50.00 |
|
Directors or relatives of directors |
|
50.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Industrial Furnaces.
|
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
·
Finished goods |
||||
|
Countries : |
·
Iron ·
China |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
·
Raw material
|
||||
|
Countries : |
·
France |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash and Credit |
||||
|
|
|
||||
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
No. of Employees : |
200 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
Union Bank of India, Chembur Branch, My Mother's Co-Operative Housing Society, Building "A" Wing, Plot No. 412 R. C. Marg, Chembur, Mumbai - 400074, Maharashtra, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. N. Choksi and Company Chartered Accountants |
|
Address : |
301, Adeshwar Darshan, Ram Maruti Road, Thane (West), Thane -400602, Maharashtra, India |
|
PAN No.: |
AAFFM8651E |
|
|
|
|
Subsidiary company: |
·
Allied Furnaces Private Limited · Ace Thermal Technologies Private Limited |
|
|
|
|
Associates: |
· Seco Warwick- USA · Allied Consulting Engineering’s · Seco Warwick – China |
|
|
|
|
Joint venture : |
· Seco Warwick Poland |
CAPITAL STRUCTURE
As on: 31.12.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
175000 |
Equity Shares |
Rs.100/- each |
Rs. 17.500 Millions |
|
825000 |
Preference Share |
Rs.100/- each |
Rs. 82.500 Millions |
|
|
Total |
|
Rs. 100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
109350 |
Equity Shares |
Rs.100/- each |
Rs. 10.936
Millions |
|
431527 |
Preference Share |
Rs.100/- each |
Rs. 43.152
Millions |
|
|
Total |
|
Rs. 54.088 Millions |
As on: 27.06.2013
Authorised Capital : Rs. 100.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 52.866
Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
54.088 |
48.438 |
|
(b) Reserves & Surplus |
|
313.615 |
221.615 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
367.703 |
270.053 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
44.535 |
66.022 |
|
(b) Deferred tax liabilities
(Net) |
|
0.000 |
2.320 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
16.242 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
60.777 |
68.342 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
58.693 |
69.291 |
|
(b) Trade payables |
|
192.270 |
217.928 |
|
(c) Other current liabilities |
|
135.577 |
215.680 |
|
(d) Short-term provisions |
|
0.230 |
0.000 |
|
Total
Current Liabilities (4) |
|
386.770 |
502.899 |
|
|
|
|
|
|
TOTAL |
|
815.250 |
841.294 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
247.506 |
213.766 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
3.899 |
23.097 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
46.008 |
17.129 |
|
(c) Deferred tax assets (net) |
|
0.308 |
0.000 |
|
(d) Long-term Loan and Advances |
|
3.715 |
11.338 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
301.436 |
265.330 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
52.927 |
133.110 |
|
(c) Trade receivables |
|
269.750 |
229.742 |
|
(d) Cash and cash equivalents |
|
149.707 |
132.013 |
|
(e) Short-term loans and
advances |
|
41.430 |
81.099 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
513.814 |
575.964 |
|
|
|
|
|
|
TOTAL |
|
815.250 |
841.294 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
46.706 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
174.334 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
221.040 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
48.837 |
|
|
2] Unsecured Loans |
|
|
18.450 |
|
|
TOTAL BORROWING |
|
|
67.287 |
|
|
DEFERRED TAX LIABILITIES |
|
|
2.951 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
291.278 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
119.246 |
|
|
Capital work-in-progress |
|
|
32.803 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
17.130 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
53.207 |
|
|
Sundry Debtors |
|
|
110.591 |
|
|
Cash & Bank Balances |
|
|
138.584 |
|
|
Other Current Assets |
|
|
37.871 |
|
|
Loans & Advances |
|
|
39.902 |
|
Total
Current Assets |
|
|
380.155 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
111.246 |
|
|
Other Current Liabilities |
|
|
146.810 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
258.056 |
|
|
Net Current Assets |
|
|
122.099 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
291.278 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
SALES |
|
|
|
|
|
Income |
823.486 |
845.115 |
466.123 |
|
|
Other Income |
22.098 |
11.202 |
10.659 |
|
|
TOTAL
|
845.584 |
856.317 |
476.782 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
|
787.856 |
798.771 |
435.380 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
57.728 |
57.546 |
41.402 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
19.850 |
15.795 |
15.717 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
37.878 |
41.751 |
25.685 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
135.262 |
93.511 |
67.826 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Dividend |
0.198 |
0.000 |
0.000 |
|
|
Tax on Dividend |
0.032 |
0.000 |
0.000 |
|
|
Balance
Carried to the B/S (J+K+L-M) |
172.910 |
135.262 |
93.511 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
33.452 |
19.033 |
|
|
|
TOTAL
EARNINGS |
33.452 |
19.033 |
0.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
346.39 |
381.81 |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
PAT / Total Income |
(%) |
4.48 |
4.88 |
5.39 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.01 |
6.81 |
8.88 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.55 |
7.18 |
8.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.21 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.28 |
0.50 |
0.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33 |
1.15 |
1.47 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
48.438 |
54.088 |
|
Reserves & Surplus |
221.615 |
313.615 |
|
Net
worth |
270.053 |
367.703 |
|
|
|
|
|
long-term borrowings |
66.022 |
44.535 |
|
Short term borrowings |
69.291 |
58.693 |
|
Total
borrowings |
135.313 |
103.228 |
|
Debt/Equity
ratio |
0.501 |
0.281 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
466.123 |
845.115 |
823.486 |
|
|
|
81.307 |
(2.559) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
466.123 |
845.115 |
823.486 |
|
Profit |
25.685 |
41.751 |
37.878 |
|
|
5.51% |
4.94% |
4.60% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last 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 |
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 |
No |
|
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 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.12.2012 |
As on 31.12.2011 |
|
Short term
borrowings |
|
|
|
Loans and advance from director |
0.000 |
19.796 |
|
|
|
|
|
Total |
0.000 |
19.796 |
BUSINESS PERFORMANCE:
During the year the company achieved the sales targets but was short as compared to the previous year. The revenue from operations decreased by 2.56% at Rs. 8,23.486 millions as compared to Rs.8,45.115 millions in the previous year. The company managed to achieve the results against a challenging environment and some stiff competition.
Profit before Tax for the current year was Rs. 57.728 millions an increase of 0.31% as against Rs.57.546 millions for the previous year. Net Profit stood at Rs.37.878 millions as compared to Rs.41.751 millions in the previous year.
The consolidated revenue from operations of the company for the year was Rs.1,013.476 millions, an increase of 7.98% on a year-on-year basis.
BUSINESS OUTLOOK:
The global economy is plagued with uncertainties and disturbances in many parts of the world. The capital investments remained sluggish on the national front. This has resulted in slow growth. India’s economic growth is not as estimated and the coming year is expected to be difficult and challenging due to uncertain political climate.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10290144 |
19/05/2011 |
50,000,000.00 |
STANDARD CHARTERED BANK |
201-B/1, STANDARD CHARTERED TOWER, WESTERN EXPRESS HIGHWAY, GOREGAON (E), MUMBAI, MAHARASHTRA - 400063, INDIA |
B14264493 |
|
2 |
10176377 |
06/03/2013 * |
232,300,000.00 |
UNION BANK OF INDIA |
CHEMBUR BRANCH, MY MOTHER CO-OPERATIVE HOUSING SOC |
B73353435 |
|
3 |
10051207 |
21/05/2013 * |
258,200,000.00 |
UNION BANK OF INDIA |
CHEMBUR BRANCH, MY MOTHER CO-OPERATIVE HOUSING SOC |
B78605037 |
|
4 |
90243934 |
02/12/2005 |
1,100,000.00 |
UNIMON BANK OF INDIA |
CENBER BRANCH, MUMBAI, MAHARASHTRA, INDIA |
- |
|
5 |
90242382 |
02/12/2005 * |
25,000,000.00 |
UNIMON BANK OF INDIA |
CENBER BRANCH, MUMBAI, MAHARASHTRA, INDIA |
- |
* Date of charge modification
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Factory equipment’s
· Motor vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 59.88 |
|
|
1 |
Rs. 100.98 |
|
Euro |
1 |
Rs. 82.40 |
INFORMATION DETAILS
|
Information Gathered
by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
|
48 |
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.