MIRA
INFORM REPORT
|
Report Date : |
24.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SATNAM GLOBAL INFRAPROJECTS LIMITED (w.e.f.11.09.2008) |
|
|
|
|
Formerly Known
As : |
SATNAM ENGINEERS AND FABRICATORS LIMITED (w.e.f.06.05.2008) SATNAM ENGINEERS AND FABRICATORS PRIVATE LIMITED |
|
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|
Registered
Office : |
Plot No. 272, FIE Industrial Area, Patpar Ganj, Delhi - 110092 |
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|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
09.02.1987 |
|
|
|
|
Com. Reg. No.: |
55-026940 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 134.115
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1987PLC026940 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS06122E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS2509K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject undertakes engineering contracts involving erection, commissioning and installation of machines and also undertakes erection and commissioning of high-capacity diesel generator sets. |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1470000 |
|
|
|
|
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 record. The rating takes into consideration the deterioration in the company
business risk profile, the company’s net sales have declined significantly
over the past two years. Further, the rating is also constrained due to the fixed-price nature
of contracts. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow but correct. The company can be considered for business dealings with some
caution. |
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 : B |
|
Rating Explanation |
High risk of default |
|
Date |
August 13, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A4 |
|
Rating Explanation |
Minimal degree of safety it carry very high
credit risk. |
|
Date |
August 13, 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 DECLINED
MANAGEMENT NON-COOPERATIVE
(CONTACT NO.: 91-9582261700)
LOCATIONS
|
Registered/ Head Office : |
Plot No. 272, FIE Industrial Area, Patpar Ganj, Delhi – 110092, India |
|
Tel. No.: |
91-11-22168346/ 22163693/ 22160337/ 9582261700-705 |
|
Fax No.: |
91-11-22168275 |
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E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Bhoopendra Kumar Jain |
|
Designation : |
Managing director |
|
Address : |
67, Jagriti Enclave, Vikas Marg Extension, Delhi – 110092, India |
|
Date of Birth/Age : |
18.03.1955 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
09.02.1987 |
|
PAN No.: |
AAAPJ4024B |
|
DIN No.: |
00838078 |
|
|
|
|
Name : |
Mrs. Manjusha Jain |
|
Designation : |
Director |
|
Address : |
A-28, Anand Vihar, Vikas Marg Extension, Delhi – 110092, India |
|
Date of Birth/Age : |
23.09.1961 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
20.11.1998 |
|
PAN No.: |
AAGPJ0095A |
|
DIN No.: |
00985270 |
KEY EXECUTIVES
|
Name : |
Ms. Priya Sharma |
|
Designation : |
Finance Manager |
|
|
|
|
Name : |
Mr. Ravindra |
|
Designation : |
Admin Manager |
|
|
|
|
Name : |
Hari Varanasi |
|
Designation : |
Secretary |
|
Address : |
29, Vaishali, Pitampura, New Delhi – 110088, India |
|
Date of Appointment : |
01.03.2008 |
|
PAN No.: |
ACBPV0964B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Boopendra Kr. Jain |
|
736298 |
|
Manjusha Jain |
|
6752 |
|
Jitendra Kr. Jain |
|
9000 |
|
Harjinder Singh Sandhu |
|
384126 |
|
Parveen Sandhu |
|
56 |
|
Himanshu Jain |
|
16200 |
|
Citi Wings Dealers Private Limited, India |
|
188600 |
|
Aruna P Jha |
|
10 |
|
Dhaneshwar Tieup Private Limited, India |
|
10 |
|
Jainendra Kumar Garg (HUF) |
|
10 |
|
Meenal Gandhi |
|
10 |
|
Munesh Chand Garg |
|
10 |
|
Naveen Kumar Jain |
|
10 |
|
Purnima Jain |
|
10 |
|
Pushpa Devi |
|
10 |
|
Reema Jain |
|
10 |
|
Rohit Gandhi |
|
10 |
|
S.C. Katiyar |
|
10 |
|
Sidhant Vyapar Private Limited, India |
|
10 |
|
|
|
|
|
Total |
|
1341152 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
14.06 |
|
Directors
or relatives of directors |
85.94 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject undertakes engineering contracts involving erection, commissioning and installation of machines and also undertakes erection and commissioning of high-capacity diesel generator sets. |
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Products/ Services : |
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GENERAL INFORMATION
|
Customers : |
v Adani Agri Logistics Limited, Kaithal, Haryana and Moga, Punjab v Alok Industries Limited, Silvassa, Maharashtra v Andhra Pradesh Paper Mills Limited, Rajamundary, Andhra Pradesh. v Andrew Yule & Company Limited, Hyderabad, Andhra Pradesh v Appollo Fibres Limited, Hosiarpur, Punjab v Avery Cycle Industries Limited, Ludhiana, Punjab v Ballarpur Industries Limited, Yamuna Nagar, Haryana v Bateman Engineering India Private Limited, Bangalore (Hindustan Zink, Aguchha and Tata Steel, Joda) v Becton and Dickinson India Limited, Bawal, Haryana v Bharat Heavy Electricals Limited, Bhopal, M. P. v Bhilwara Spinners Limited, Bhilwara, Rajasthan v Carrier Aircon Limited, Gurgaon, Haryana v CEAT Limited, Malanpur, Gwalior, M.P. v Chambal Fertilizers and Chemicals Limited, Gadepan, Rajasthan v Daewoo Motors India Limited, Surajpur, Noida, U.P. v DCL Polyester Limited, Nagpur, Maharashtra |
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No. of Employees : |
Not Divulged |
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Bankers : |
v HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India v Syndicate Bank Nirman Vihar, Vikas Marg, Delhi - 110092, Delhi, India v Punjab and Sind Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Praveen Bhagat and Company Chartered Accountants |
|
Address : |
46, Chaman Lal Market, Gumti No. 5, Kanpur - 208012, Uttar Pradesh, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACKPB8096M |
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|
|
|
Other Related
Party : |
Dhantera Financial Advisory Private Limited |
|
|
|
|
Enterprises
which are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
Sandhu Engineers |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,500,000 |
Equity Shares |
Rs. 100/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,341,152 |
Equity Shares |
Rs. 100/- each |
Rs. 134.115
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 |
134.115 |
134.115 |
134.115 |
|
(b) Reserves & Surplus |
234.325 |
213.199 |
202.507 |
|
(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) |
368.440 |
347.314 |
336.622 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
196.286 |
192.093 |
214.168 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.166 |
|
(c) Other long
term liabilities |
239.190 |
197.050 |
242.167 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
435.476 |
389.143 |
456.501 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
66.849 |
110.737 |
133.533 |
|
(c) Other
current liabilities |
71.786 |
107.075 |
123.795 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
138.635 |
217.812 |
257.328 |
|
|
|
|
|
|
TOTAL |
942.551 |
954.269 |
1050.451 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
99.700 |
107.884 |
114.831 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
3.868 |
4.485 |
4.263 |
|
(c) Deferred tax assets (net) |
3.461 |
1.504 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
107.029 |
113.873 |
119.094 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
97.576 |
120.367 |
154.194 |
|
(c)
Trade receivables |
590.663 |
567.307 |
597.238 |
|
(d) Cash
and cash equivalents |
31.855 |
49.003 |
59.374 |
|
(e)
Short-term loans and advances |
27.052 |
20.678 |
21.777 |
|
(f)
Other current assets |
88.376 |
83.041 |
98.774 |
|
Total Current
Assets |
835.522 |
840.396 |
931.357 |
|
|
|
|
|
|
TOTAL |
942.551 |
954.269 |
1050.451 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
896.523 |
1078.978 |
1554.739 |
|
|
|
Other Income |
8.195 |
7.056 |
127.650 |
|
|
|
TOTAL (A) |
904.718 |
1086.034 |
1682.389 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
280.100 |
235.276 |
486.919 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
3.357 |
42.228 |
0.000 |
|
|
|
Employees benefits expense |
346.407 |
413.358 |
516.106 |
|
|
|
Other expenses |
170.213 |
274.745 |
415.663 |
|
|
|
Exceptional Items |
(1.956) |
(1.670) |
0.000 |
|
|
|
Extraordinary Items |
22.223 |
39.290 |
0.000 |
|
|
|
TOTAL (B) |
820.344 |
1003.227 |
1418.688 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
84.374 |
82.807 |
263.701 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
48.505 |
55.761 |
42.578 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
35.869 |
27.046 |
221.123 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
14.743 |
16.354 |
18.617 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
21.126 |
10.692 |
202.506 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
21.126 |
10.692 |
202.506 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.34 |
0.98 |
12.04 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.36 |
0.99 |
13.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.26 |
1.13 |
19.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.03 |
0.60 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.53 |
0.55 |
0.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.03 |
3.86 |
3.62 |
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 |
134.115 |
134.115 |
134.115 |
|
Reserves & Surplus |
202.507 |
213.199 |
234.325 |
|
Net
worth |
336.622 |
347.314 |
368.440 |
|
|
|
|
|
|
long-term borrowings |
214.168 |
192.093 |
196.286 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
214.168 |
192.093 |
196.286 |
|
Debt/Equity
ratio |
0.636 |
0.553 |
0.533 |
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 |
1554.739 |
1078.978 |
896.523 |
|
|
|
(30.601) |
(16.910) |
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 |
1554.739 |
1078.978 |
896.523 |
|
Profit |
202.506 |
10.692 |
21.126 |
|
|
13.03% |
0.99% |
2.36% |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
Yes |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10264719 |
01/01/2011 |
1,000,000,000.00 |
SYNDICATE BANK |
NIRMAN VIHAR BRANCH, NIRMAN VIHAR, DELHI, DELHI - 110092, INDIA |
B04763744 |
|
2 |
10264803 |
23/12/2010 |
800,000,000.00 |
SYNDICATE BANK |
NIRMAN VIHAR BRANCH, NIRMAN VIHAR, DELHI, DELHI - 110092, INDIA |
B04823670 |
|
3 |
10190037 |
03/12/2009 |
1,540,200.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D,, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
A74929316 |
|
4 |
10195903 |
30/11/2009 |
2,206,109.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
A76876622 |
|
5 |
10185541 |
26/09/2009 |
7,705,500.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A73442691 |
|
6 |
10132758 |
30/11/2008 |
1,633,230.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
A52285509 |
|
7 |
10300756 |
17/03/2007 |
2,424,000.00 |
SYNDICATE BANK |
NIRMAN VIHAR, VIKAS MARG, DELHI, DELHI -110092, INDIA |
A13597125 |
|
8 |
80002937 |
23/12/2010 * |
1,000,000,000.00 |
SYNDICATE BANK |
NIRMAN VIHAR BRANCH, NIRMAN VIHAR, DELHI, DELHI - 110092, INDIA |
B04763017 |
* Date of charge modification
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from C-1, Aruna
Park, Vikas Marg, Laxmi Nagar, New Delhi – 110092, India to the present address
w.e.f.10.12.2009.
WORKING REPORT
During the year under reference the company has earned a
profit of Rs.41.393 Millions after providing depreciation as per the Companies
Act but before paying the taxes as against the previous year profits of Rs.
49.982 Millions. However the profit after making appropriation for Income Tax
and Deferred Tax is Rs. 21.100 Millions. The Company has achieved a number of
big orders and contracts in hand and is likely to fetch good profits in the
years to come.
PERFORMANCE AND
FUTURE PROSPECTS
The Company has faced a lot of challenges but did well
during the period. During this period, the company has made receipt of 209.821
Millions towards Domestic Sales, Rs.685.135 Millions towards Contract Receipts
and Rs. 1.567 Millions towards Freight Receipts. It hopes to secure the orders
to the tune of Rs. 500.000 Millions in near future. It also hopes to click
quite a few good contracts from a number of other concern. Therefore, the
prospects of the company seems bright in the coming year.
CONTINGENT
LIABILITIES (AS ON 31.03.2013):
Contingent
Liabilities not provided for:
The company has
revolving Limits of Letter of credit for Rs. 5 Crores and Bank guarantee of Rs.
600.000 Millions during the year with Syndicate Bank Nirman Vihar Delhi -
110092. The amount of ILC/FLC and BG varies from time to time during the year
depending upon the requirement of work within the limits sanctioned by the
Bank. However No BG or ILC/FLC has been given against any disputed Liability.
FIXED ASSETS:
v Buildings
v Plant and equipment
v Furniture and fixtures
v Vehicles
v Office equipment
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. 58.48 |
|
|
1 |
Rs. 98.67 |
|
Euro |
1 |
Rs. 79.81 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.