MIRA
INFORM REPORT
|
Report Date : |
23.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
MONO STEEL (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
210, P. J. Mewawala Chamber, 13, Kaziz Sayed Street, 2nd Floor,
Mumbai – 400009, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation
: |
16.03.1992 |
|
|
|
|
Com. Reg. No.: |
11-065934 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.130.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27106MH1992PLC065934 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMM08532G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCM3137C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Sponge Iron and MS Billets. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 44000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The rating takes into consideration company’s moderate financial risk
profile and continuous dip in profit of the company over a year. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing 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 |
CRISIL |
|
Rating |
Long Term Rating: BB+ |
|
Rating Explanation |
In adequate credit quality and low credit
risk. |
|
Date |
09.05.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
09.05.2014 |
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 PARTED BY
|
Name : |
Mr. Hiren Bhai |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-9825208508 |
|
Date : |
22.05.2014 |
LOCATIONS
|
Registered Office : |
210, P.J. Mewawala Chamber, 13, Kaziz Sayed Street, 2nd
Floor, Mumbai – 400 009, |
|
Tel. No.: |
91-22-23453648 |
|
Mobile No.: |
91-9879576771 (Mr. Ketan Dhruv) 91-9825208508 (Mr. Hiren Bhai) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
500 Sq. Ft |
|
Location : |
Owned |
|
|
|
|
Factory : |
Survey No. 374, 397/2, 398 and 396/1 Paiki
2, Dhamadaka, Taluka, Anjar, District Kutch - 370200,
Gujarat, India |
|
Tel. No.: |
91-2837-285911 |
|
Fax No.: |
91-2837-285910 |
|
E-Mail : |
|
|
Area : |
8000 Sq. Ft |
|
Location : |
Owned |
|
|
|
|
Admin Office : |
202, Prithvi Complex, Kalanala,
Bhavnagar - 364001, Gujarat, India |
|
Tel. No.: |
91-278-2515677/3004502 |
|
Fax No.: |
91-278-3004500 |
|
E-Mail : |
|
|
Area : |
600 Sq. Ft |
|
Location : |
Owned |
|
|
|
|
Corresponds
Address : |
472/12-C Leelasah Nagar,
Opposite New Shanker Mandir,
Gandhidham, District Kuch,
Gujarat, India |
|
Tel No.: |
91-2836-228685 |
DIRECTORS
(AS ON 30.09.2013)
|
Name : |
Mr. Jaysukhlal Mavjibhai
Shah |
|
Designation : |
Director |
|
Address : |
Krishna Nagar, Geeta
Chawk, |
|
Date of Birth/Age : |
07.10.1948 |
|
Date of Appointment : |
21.01.2005 |
|
PAN No.: |
AAGPS6625K |
|
DIN No.: |
00319874 |
|
|
|
|
Name : |
Mr. Chimanlal Mavjibhai
Shah |
|
Designation : |
Director |
|
Address : |
Krishna Nagar, Geeta
Chawk, |
|
Date of Birth/Age : |
12.06.1939 |
|
Date of Appointment : |
21.01.2005 |
|
DIN No.: |
00320042 |
|
|
|
|
Name : |
Mr. Bhupatrai Mavjibhai
Shah |
|
Designation : |
Director |
|
Address : |
Krishna Nagar, Geeta
Chawk, |
|
Date of Birth/Age : |
17.06.1954 |
|
Date of Appointment : |
05.10.2010 |
|
DIN No.: |
00320612 |
KEY EXECUTIVES
|
Name : |
Mr. Hiren Bhai |
|
Designation : |
Accounts Department |
|
|
|
|
Name : |
Mr. Ketan Dhruv |
|
Designation : |
Accounts Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2013)
|
Name of
Shareholders |
|
No of
Shares |
|
|
|
|
|
AM Ispat Limited, India |
|
1100000 |
|
Bhadresh J. Shah |
|
600000 |
|
Bhavesh Shah |
|
400000 |
|
Bhupatrai Shah |
|
800000 |
|
Charulata Shah |
|
500000 |
|
Chhaya Shah |
|
344500 |
|
Chimanlal Shah |
|
500000 |
|
Dalkan Ship Breaking Limited |
|
1400000 |
|
Dharmendra Shah |
|
600000 |
|
Dipti Shah |
|
40000 |
|
Gaurang Shah |
|
340000 |
|
Gaurav Shah |
|
500000 |
|
Gunvantiben Shah |
|
750000 |
|
Hemali Shah |
|
311500 |
|
Hiren Shah |
|
500000 |
|
Hitesh Shah |
|
500000 |
|
Jaysukhlal Shah |
|
550000 |
|
Manjulaben Shah |
|
400000 |
|
Nehal Shah |
|
250000 |
|
Paras Ship Breaking Limited, India |
|
670000 |
|
Parul Shah |
|
500000 |
|
Pushpaben Shah |
|
506000 |
|
Sangita Shah |
|
290000 |
|
Tejas Shah |
|
48000 |
|
Vinaychand Shah |
|
600000 |
|
|
|
|
|
Total |
|
13000000 |
(AS ON 30.09.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
24.00 |
|
Directors or relatives of directors |
|
76.00 |
|
|
|
|
|
Total
|
|
100.00 |
%20LIMITED%20-%20268597%20_MIRA%2023-May-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Sponge Iron and MS Billets. |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Imports : |
|
||||||
|
Products : |
Raw Materials |
||||||
|
Countries : |
· South Africa · Ukraine |
||||||
|
|
|
||||||
|
Terms : |
|
||||||
|
Selling : |
Cash |
||||||
|
|
|
||||||
|
Purchasing : |
L/C |
GENERAL INFORMATION
|
Suppliers : |
· Adani Enterprises Limited |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Customers : |
· Vinayak TMT Bars Private Limited |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
150 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
·
Bank of India Ahmedabad Mid Corporate Branch, 1st
Floor, BOI Building, Near Swastik char Rasta, C G
Road, Navarangpura, Ahmedabad
– 380009, Gujarat, India ·
Dena Bank ·
Punjab National Bank ·
Bank of Baroda |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. A. Shah and Associates Chartered Accountants |
|
Address : |
Opposite Panjara Pol.
Danapith, Bhavnagar –
364001, Gujarat, India |
|
PAN No.: |
AIVPS5884K |
|
|
|
|
Associates : |
·
Keyur Ispat Limited, India |
|
|
|
|
Other Related Parties : |
·
AM Ispat Limited, India
·
Dalkan Ship Breaking
Limited, India ·
M V Steel ·
Paras Steel
Corporation |
CAPITAL STRUCTURE
(AS ON 30.09.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13000000 |
Equity Shares |
Rs.10/- each |
Rs.130.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13000000 |
Equity Shares |
Rs.10/- each |
Rs.130.000 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 |
130.000 |
130.000 |
130.000 |
|
(b) Reserves & Surplus |
966.441 |
945.708 |
821.892 |
|
(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) |
1096.441 |
1075.708 |
951.892 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
871.298 |
749.234 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
871.298 |
749.234 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
396.246 |
588.508 |
661.112 |
|
(b) Trade payables |
1228.095 |
1104.090 |
605.708 |
|
(c) Other current
liabilities |
18.212 |
21.964 |
0.000 |
|
(d) Short-term provisions |
10.400 |
9.774 |
12.003 |
|
Total Current Liabilities (4) |
1652.953 |
1724.336 |
1278.823 |
|
|
|
|
|
|
TOTAL |
3620.692 |
3549.278 |
2230.715 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1472.778 |
581.969 |
684.227 |
|
(ii) Intangible Assets |
0.559 |
0.620 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
1082.643 |
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 |
0.000 |
639.349 |
976.854 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1473.337 |
2304.581 |
1661.081 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
901.641 |
941.320 |
359.933 |
|
(c) Trade receivables |
176.307 |
233.108 |
199.624 |
|
(d) Cash and cash
equivalents |
4.976 |
54.452 |
10.077 |
|
(e) Short-term loans and
advances |
1064.431 |
0.000 |
0.000 |
|
(f) Other current assets |
0.000 |
15.817 |
0.000 |
|
Total Current Assets |
2147.355 |
1244.697 |
569.634 |
|
|
|
|
|
|
TOTAL |
3620.692 |
3549.278 |
2230.715 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
3977.154 |
2976.242 |
2943.183 |
|
|
|
Other Income |
56.753 |
100.745 |
43.295 |
|
|
|
TOTAL (A) |
4033.907 |
3076.987 |
2986.478 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock-in-trade |
2646.168 |
2716.793 |
1728.442 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
39.679 |
(581.386) |
(141.788) |
|
|
|
Employee Benefits Expenses |
22.585 |
17.613 |
16.992 |
|
|
|
Other Expenses |
933.666 |
640.935 |
1105.234 |
|
|
|
TOTAL (B) |
3642.098 |
2793.955 |
2708.880 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
391.809 |
283.032 |
277.598 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
111.580 |
46.005 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
280.229 |
237.027 |
277.598 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
228.699 |
91.648 |
101.710 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
51.530 |
145.379 |
175.888 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
10.401 |
9.773 |
12.003 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
41.129 |
135.606 |
163.885 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.16 |
10.43 |
12.61 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
4500.000 |
The above information has been parted by Mr. Hiren
Bhai.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.02 |
4.41 |
5.49 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.30 |
4.88 |
5.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.42 |
5.89 |
7.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.14 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.16 |
1.24 |
0.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30 |
0.72 |
0.45 |
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 |
130.000 |
130.000 |
130.000 |
|
Reserves & Surplus |
821.892 |
945.708 |
966.441 |
|
Net worth |
951.892 |
1075.708 |
1096.441 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
749.234 |
871.298 |
|
Short term borrowings |
661.112 |
588.508 |
396.246 |
|
Total borrowings |
661.112 |
1337.742 |
1267.544 |
|
Debt/Equity ratio |
0.695 |
1.244 |
1.156 |
%20LIMITED%20-%20268597%20_MIRA%2023-May-2014_files/image004.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) |
|
Revenue from
Operations |
2,943.183 |
2,976.242 |
3,977.154 |
|
|
|
1.123 |
33.630 |
%20LIMITED%20-%20268597%20_MIRA%2023-May-2014_files/image006.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) |
|
Revenue from Operations |
2,943.183 |
2,976.242 |
3,977.154 |
|
Profit |
163.885 |
135.606 |
41.129 |
|
|
5.57% |
4.56% |
1.03% |
%20LIMITED%20-%20268597%20_MIRA%2023-May-2014_files/image008.gif)
LOCAL AGENCY FURTHER INFORMATION
NOTE: CURRENT
MATURITIES OF LONG TERM DEBT DETAILS NOT AVAILABLE
|
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 four 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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm / promoter
involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
Long Term Borrowings |
|
|
|
Loans and Advance
from Others |
113.728 |
0.000 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
Other loans and advances |
396.246 |
588.508 |
|
|
|
|
|
Total |
509.973 |
588.508 |
TRADE REFERENCES:
·
Adani Enterprises Limited
·
Vinayak TMT Bars Private Limited
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10452273 |
13/09/2013 |
3,414,000,000.00 |
PNB
INVESTMENT SERVICE LIMITED - SEC TRUSTEE OF BOI CO |
MOTOR
SALES AND SERVICES BUILDING, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA |
B86353232 |
|
2 |
10394814 |
19/12/2012 |
1,350,000,000.00 |
BANK
OF INDIA |
AHMEDABAD
MID CORPORATE BRANCH, 1ST FLOOR BOI BLDG , NR SWASTIK CHAR RASTA, C G ROAD,
NAVARANGPURA, |
B65109332 |
|
3 |
10345529 |
12/03/2012 |
500,000,000.00 |
DENA
BANK |
INDUSTRIAL
FINANCE BRANCH, 2ND FLOOR, DENA LAXMI BUILDING, 188-A, ASHRAM ROAD,
AHMEDABAD, GUJARAT - 380009, INDIA |
B36269082 |
|
4 |
10314324 |
19/03/2013 * |
3,414,000,000.00 |
BOI CONSORTIUM - BANK OF INDA - DENA BANK - BANK
O |
AHMEDABAD MID CORPORATE BRANCH, 1ST FLOOR BOI
BLDG, NR SWASTIK CHAR RASTA, C G ROAD, NAVARANGPURA, |
B75207175 |
*Date of modification Charges
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Furniture and Fixture
· Computer
· 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 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.58.57 |
|
|
1 |
Rs.98.87 |
|
Euro |
1 |
Rs.80.05 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.