MIRA INFORM REPORT
|
Report Date : |
10.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
BHILAI
ENGINEERING CORPORATION LIMITED |
|
|
|
|
Registered
Office : |
Hathkoj
Village, Industrial Area, Bhilai, Madhya Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.12.1960 |
|
|
|
|
Com. Reg. No.: |
10-000913 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 47.193 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L29111CT1960PLC000913 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JBPB00010D JBPB03214B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCB6838D AAACB9272A |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject is engages in engineering, fertilizers, construction, and food businesses |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 180000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track record. As per registrar of companies the date of balance sheet i.e.
financials filed is shown as 31st March. 2014 but the documents
related to the financials for the year 2014 are not available from any
sources. As per available financial 2013, financial position of the company
seems to be decent. Trade relations are fair. Business is active. Payment terms are
reported to be regular and as per commitment. The company can be considered foo for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BBB |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
08.10.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A3+ |
|
Rating Explanation |
Have moderate degree of safety and carry higher credit risk. |
|
Date |
08.10.2014 |
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
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. Nirmalkumar Pandy |
|
Designation : |
Senior Manager in Finance |
|
Contact No.: |
91-788-4088100 |
|
Date : |
07.11.2014 |
LOCATIONS
|
Registered Office / Factory : |
Hathkoj Village, Industrial Area, Bhilai, Madhya Pradesh, India |
|
Tel. No.: |
91-788-4088100 |
|
Fax No.: |
91-788-2285499 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Regional Office 1 : |
BEC House, 13 Masjid Moth, D.D.A. Commercial Complex, New Delhi 110048, India |
|
Tel. No.: |
91-11-29212857, 29227142, 29227150 |
|
Fax No.: |
91-11-29229076, 41639279 |
|
|
|
|
Regional Office 2 : |
31 Maker Chamber III, 3rd Floor, Nariman Point, Bombay 400 021, Maharashtra, India |
|
Tel. No.: |
91-22-22883768, 22831724, 22844208 |
|
Fax No.: |
91-22-22873611 |
|
|
|
|
Regional Office 3 : |
4B, Little Russel Street, 2nd Floor, Kolkata - 700 071, West Bengal, India |
|
Tel. No.: |
91-33-22823226, 22827606, 22823372 |
|
Fax No.: |
91-33-22827061 |
|
|
|
|
Factory 2 : |
16 (Old 183) Anna Salai, Baid Meetha Complex, 2nd Floor,
Little Mount |
|
Tel. No.: |
91-44-22301703 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Balwant Rai Jain |
|
Designation : |
Whole-Time Director |
|
Address : |
63, Nehru Nagar [East], Bhilai, Durg –
490020, |
|
Date of Birth/Age : |
30.09.1924 |
|
Date of Appointment : |
20.09.2001 |
|
DIN No.: |
00207571 |
|
|
|
|
Name : |
Mr. Arvind Kumar Jain |
|
Designation : |
Managing Director |
|
Address : |
43 Nehru nagar Bhilai, Durg – 490020, |
|
Date of Birth/Age : |
31.10.1946 |
|
Date of Appointment : |
30.04.2007 |
|
DIN No.: |
00207106 |
|
|
|
|
Name : |
Mr. Surendra Kumar Jain |
|
Designation : |
Whole-Time Director |
|
Address : |
13 Masjid Moth Commercial Complex, |
|
Date of Birth/Age : |
24.04.1942 |
|
Date of Appointment : |
29.09.2001 |
|
DIN No.: |
00207450 |
|
|
|
|
Name : |
Mr. Veenu Jain |
|
Designation : |
Managing Director |
|
Address : |
31 Maker Chambers, 3rd Floor Nariman Point, Mumbai –
400021, |
|
Date of Birth/Age : |
30.09.1954 |
|
Date of Appointment : |
29.09.1979 |
|
DIN No.: |
00207165 |
|
|
|
|
Name : |
Mr. Ashish Jain |
|
Designation : |
Whole-Time Director |
|
Address : |
43, Nehru Nagar [East], Bhilai, Durg – 490020, |
|
Date of Birth/Age : |
27.02.1976 |
|
Date of Appointment : |
30.09.2000 |
|
DIN No.: |
00207048 |
|
|
|
|
Name : |
Mr. Geetika Jain |
|
Designation : |
Managing Director |
|
Address : |
14, Link Road, Jangpura Extention, New Delhi – 110014, India |
|
Date of Birth/Age : |
07.12.1975 |
|
Date of Appointment : |
04.12.2009 |
|
DIN No.: |
00207695 |
|
|
|
|
Name : |
Mr. Krishna Jain |
|
Designation : |
Whole-Time Director |
|
Address : |
14, Link Road, Jangpura Extention, New Delhi – 110014, India |
|
Date of Birth/Age : |
04.09.1939 |
|
Date of Appointment : |
04.12.2009 |
|
DIN No.: |
00207724 |
KEY EXECUTIVES
|
Name : |
Mr. Nirmalkumar Pandy |
|
Designation : |
Senior Manager in Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
SHAREHOLDING DETAILS FILE ATTACHED
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
90.12 |
|
Directors or relatives of Directors |
7.58 |
|
Other top fifty shareholders |
2.30 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engages in engineering, fertilizers,
construction, and food businesses |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Brand Names : |
-- |
||||||
|
|
|
||||||
|
Agencies Held : |
-- |
||||||
|
|
|
||||||
|
Exports : |
Not Divulged |
||||||
|
|
|
||||||
|
Imports : |
Not Divulged |
||||||
|
|
|
||||||
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
|
|
|
|
Customers : |
Not Divulged |
|
|
|
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Central Bank of India, Civic Centre Branch, Bhilai, Bhilai
- 490006, Chhattisgarh, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Financial Institution : |
Mahindra and Mahindra Financial Services Limited, Gateway
Building, Apollo Bunder, Mumbai - 400001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
P C
Bafna and Company Chartered Accountants |
|
Address : |
Ganjpara, Durg, |
|
Tel. No.: |
91-788-2323182
/ 2329738 |
|
PAN No.: |
AACFP8866F |
|
|
|
|
Associate : |
|
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11,500,000 |
Equity Shares |
Rs.10/- each |
Rs.115.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,719,320 |
Equity Shares |
Rs.10/- each |
Rs.47.193 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 |
47.193 |
47.193 |
47.193 |
|
(b) Reserves & Surplus |
2542.606 |
2046.408 |
1479.534 |
|
(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) |
2589.799 |
2093.601 |
1526.727 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
302.998 |
64.689 |
23.213 |
|
(b) Deferred tax liabilities (Net) |
14.786 |
0.000 |
30.345 |
|
(c) Other long term
liabilities |
1008.575 |
1505.420 |
648.214 |
|
(d) long-term
provisions |
8.688 |
533.625 |
278.496 |
|
Total Non-current
Liabilities (3) |
1335.047 |
2103.734 |
980.268 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1102.549 |
830.936 |
538.202 |
|
(b) Trade
payables |
1718.917 |
1458.224 |
933.625 |
|
(c) Other
current liabilities |
1403.413 |
1383.388 |
678.914 |
|
(d) Short-term
provisions |
142.537 |
229.383 |
117.820 |
|
Total Current Liabilities
(4) |
4367.416 |
3901.931 |
2268.561 |
|
|
|
|
|
|
TOTAL |
8292.262 |
8099.266 |
4775.556 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1161.086 |
901.169 |
789.332 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
26.870 |
75.497 |
15.867 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
11.380 |
14.943 |
16.387 |
|
(c) Deferred tax assets (net) |
0.000 |
3.933 |
0.000 |
|
(d) Long-term Loan and Advances |
123.953 |
131.204 |
91.213 |
|
(e) Other
Non-current assets |
374.396 |
47.831 |
134.687 |
|
Total Non-Current
Assets |
1697.685 |
1174.577 |
1047.486 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
287.664 |
235.468 |
0.000 |
|
(b)
Inventories |
1870.889 |
1316.727 |
1497.668 |
|
(c) Trade
receivables |
2078.591 |
2247.046 |
1424.244 |
|
(d) Cash
and cash equivalents |
963.023 |
2248.804 |
214.826 |
|
(e)
Short-term loans and advances |
1164.834 |
711.184 |
429.656 |
|
(f) Other
current assets |
229.576 |
165.460 |
161.676 |
|
Total
Current Assets |
6594.577 |
6924.689 |
3728.070 |
|
|
|
|
|
|
TOTAL |
8292.262 |
8099.266 |
4775.556 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
9112.446 |
9385.956 |
7987.168 |
|
|
|
Other Income |
505.143 |
(245.000) |
49.403 |
|
|
|
TOTAL (A) |
9617.589 |
9140.956 |
8036.571 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
5792.361 |
|
|
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(140.452) |
231.542 |
|
|
|
|
Employees benefits expense |
611.382 |
548.050 |
|
|
|
|
Other expenses |
2180.885 |
1783.336 |
|
|
|
|
TOTAL (B) |
8444.176 |
7944.802 |
5648.724 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1173.413 |
1196.154 |
2387.847 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
255.599 |
211.884 |
126.135 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
917.814 |
984.270 |
2261.712 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
198.629 |
170.174 |
142.542 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
719.185 |
814.096 |
2119.170 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
213.105 |
247.222 |
373.727 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
506.080 |
566.874 |
1745.443 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
107.24 |
112.85 |
148.05 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
5.55 |
6.04 |
21.85 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
12.88 |
12.74 |
29.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.71 |
10.17 |
44.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.39 |
1.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.54 |
0.43 |
0.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.51 |
1.77 |
1.64 |
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 |
47.193 |
47.193 |
47.193 |
|
Reserves & Surplus |
1479.534 |
2046.408 |
2542.606 |
|
Net worth |
1526.727 |
2093.601 |
2589.799 |
|
|
|
|
|
|
long-term borrowings |
23.213 |
64.689 |
302.998 |
|
Short term borrowings |
538.202 |
830.936 |
1102.549 |
|
Total borrowings |
561.415 |
895.625 |
1405.547 |
|
Debt/Equity ratio |
0.368 |
0.428 |
0.543 |
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 |
7987.168 |
9385.956 |
9112.446 |
|
|
|
17.513 |
(2.914) |
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 |
7987.168 |
9385.956 |
9112.446 |
|
Profit |
1745.443 |
566.874 |
506.080 |
|
|
21.85% |
6.04% |
5.55% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
THE YEAR IN
RETROSPECT AND FUTURE PROSPECTS –
During the year under consideration the company's profit after tax is Rs.524.799 Millions as against Rs. 532.595 Millions in preceding year. Inspite of increase in revenue the decline in margin by Rs.7.796 Millions is due to tough competition and increase in input cost of materials.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT:-
Outlook on
Opportunities, Threats, Risk and Concerns:-
Their Engineering Division has already bagged no. of orders from different steel plants. In Engineering Division there is an all round improvement in systems and processes with close coordination between different groups and streamlining of data transfer and information exchange. Foundry Division is operating in a highly technology intensive and competitive business which demands continuous up-gradation of technology and product quality. Foundry Division is already supplying castings to Railways (Indian and Foreign) and Mines with improved manufacturing practices thereby reducing the incidence of rejections. Foundry Division is constantly upgrading its own manufacturing standards with better process controls and by improved quality of input materials. It is the Endeavour of Foundry Division to increase its market share to cater the needs of Railways. The Plants of Fertilizer Divisions are of very advanced technology, Established brand name, effective distribution net work and increased irrigation facilities will support favourably the company to grow its market size. Under the revised NBS policy, the subsidy is provided to the manufactures on the basis of nutrient content in the fertilizers and the manufactures have now flexibility to fix and revised the MRP as per their input cost from time to time. This has proved to be a turning point for the SSP plant and accordingly Company has taken steps to increase capacity of its Pulgaon Unit. Food Division is doing well and management is adding some more products in its food processing activities to make the division more viable.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10481637 |
26/02/2014 |
120,000,000.00 |
MAHINDRA AND MAHINDRA FINANCIAL SERVICES LIMITED |
GATEWAY BUILDING, APOLLO BUNDER, MUMBAI, MAHARASHTRA - 400001, INDIA |
B98106586 |
|
2 |
10476317 |
06/01/2014 * |
120,000,000.00 |
ADITYA BIRLA FINANCE LIMITED |
INDIAN RAYON COMPOUND, VERAVAL, GUJARAT - 362266, |
B96372669 |
|
3 |
10472847 |
11/12/2013 |
10,000,000.00 |
MAHINDRA AND MAHINDRA FINANCIAL SERVICES LIMITED |
GATEWAY BUILDING, APOLLO BUNDER, MUMBAI, MAHARASHTRA - 400001, INDIA |
B94467339 |
|
4 |
10457941 |
07/10/2013 |
150,000,000.00 |
ADITYA BIRLA FINANCE LIMITED |
INDIAN RAYON COMPOUND,, VERAVAL, GUJARAT - 362266, |
B88678966 |
|
5 |
10443040 |
11/12/2013 * |
100,000,000.00 |
MAHINDRA AND MAHINDRA FINANCIAL SERVICES LIMITED |
GATEWAY BUILDING, APOLLO BUNDER, MUMBAI, MAHARASHTRA - 400001, INDIA |
B94524279 |
|
6 |
10437633 |
26/06/2013 |
85,000,000.00 |
CENTRAL BANK OF INDIA |
CIVIC CENTRE BRANCH, BHILAI, BHILAI, CHHATTISGARH - 490006, INDIA |
B79952453 |
|
7 |
10408151 |
11/12/2013 * |
25,000,000.00 |
MAHINDRA AND MAHINDRA FINANCIAL SERVICES LIMITED |
GATEWAY BUILDING, APOLLO BUNDER, MUMBAI, MAHARASHTRA - 400001, INDIA |
B94524220 |
|
8 |
10308186 |
16/09/2011 |
70,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B21481049 |
|
9 |
10232783 |
04/08/2010 |
190,000,000.00 |
CENTRAL BANK OF INDIA |
CIVIC CENTRE BRANCH,, BHILAI, BHILAI, CHHATTISGARH - 490006, INDIA |
A91443135 |
|
10 |
10225492 |
29/05/2010 |
40,000,000.00 |
UCO BANK |
SECTOR 1 BRANCH,, BHILAI, CHHATTISGARH - 490001, INDIA |
A87962551 |
|
11 |
10217168 |
07/05/2010 |
60,000,000.00 |
CENTRAL BANK OF INDIA |
CIVIC CENTRE BRANCH,, BHILAI, BHILAI, CHHATTISGARH - 490006, INDIA |
A84854728 |
|
12 |
10150464 |
16/09/2011 * |
700,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B21480819 |
|
13 |
10114201 |
04/06/2008 |
90,000,000.00 |
UCO BANK |
SECTOR 1 BRANCH,, BHILAI, BHILAI, CHHATTISGARH - 490001, INDIA |
A42479840 |
|
14 |
80007369 |
27/06/2013 * |
6,222,100,000.00 |
UCO BANK |
SECTOR- 1, BHILAI, BHILAI, CHHATTISGARH - 490001, INDIA |
B80266836 |
|
15 |
80019471 |
22/09/2011 * |
2,353,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,, HOUSING BOARD COLONY,, BHILAI , CHHATTISGARH - 490026, INDIA |
B24627010 |
|
16 |
80026516 |
26/06/2013 * |
5,108,100,000.00 |
CENTRAL BANK OF INDIA |
CIVIC CENTRE BRANCH, BHILAI, BHILAI, CHHATTISGARH - 490006, INDIA |
B80052269 |
|
17 |
80026522 |
26/06/2013 * |
1,029,000,000.00 |
CENTRAL BANK OF INDIA |
CIVIC CENTRE BRANCH, BHILAI, BHILAI, CHHATTISGARH - 490006, INDIA |
B80050149 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
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.61.52 |
|
|
1 |
Rs.97.39 |
|
Euro |
1 |
Rs.76.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
53 |
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.