MIRA
INFORM REPORT
|
Report Date : |
04.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
BOMBARDIER TRANSPORTATION INDIA LIMITED |
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Formerly Known
As : |
ABB DAIMLER-BENZ TRANSPORTATION ( |
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Registered
Office : |
Unit No. 11 to 21, Ground Floor, The Grand Hotel, The Grand Plaza,
Vasant Kunj, Phase – II, Nelson Mandela Road, New Delhi – 110070 |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
27.12.1995 |
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Com. Reg. No.: |
55-074938 |
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Capital
Investment / Paid-up Capital : |
Rs. 991.840
Millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U74899DL1995PLC074938 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELB04764E / DELB04749D |
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PAN No.: [Permanent Account No.] |
AAACA5584C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing and Supplying of Rail Transportation
Systems. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 3000000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial
risk profile and huge accumulated losses incurred by the company. However, trade relations are fair. Business is active. Payment terms
are slow. 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 – 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 |
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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.
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
MANAGEMENT NON-COOPERATIVE (91-11-66497300 / 91-265-2604755)
LOCATIONS
|
Registered Office : |
Unit No.11 to 21, Ground Floor, The Grand Hotel, The Grand Plaza, Vasant
Kunj, Phase – II, Nelson Mandela Road, New Delhi – 110070, India |
|
Tel. No.: |
91-11-26180340/ 41 |
|
Fax No.: |
91-11-26186651 |
|
E-Mail : |
mukesh_agarwal3@rediffmail.com |
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Website : |
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Factory 1: |
724, GIDC Industrial Estate, Phase III, Savli, Vadodara – 390013, |
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Tel. No.: |
91-265-2353068 |
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Factory 2/ Warehouse : |
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Tel. No.: |
91-265-2648761/ 762/ 2638953 |
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Fax No.: |
91-265-2649669/ 2638951 |
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Factory 3 : |
Brown Boveri House, Race Course Circle, Vadodara – 390007, Gujarat, India |
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Tel. No. : |
91-265-2353068 |
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Fax No. : |
91-265-2355891 |
DIRECTORS
AS ON 19.06.2013
|
Name : |
Benoit Jean Rene Cattin |
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Designation : |
Managing director |
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Address : |
60 Rue De Provence Paris, France – 75009 |
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Date of Birth/Age : |
09.07.1968 |
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Qualification : |
B.Sc. Eng. |
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Date of Appointment : |
27.09.2011 |
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DIN No.: |
03592256 |
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Other Directorship :
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Name : |
Mr. Harsh Dhingra |
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Designation : |
Whole-time director |
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Address : |
HIG Flat No. 56C, Navyug Adarsh Apartment,
F Block, Vikaspuri, New Delhi – 110018, India |
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Date of Birth/Age : |
02.07.1961 |
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Qualification : |
MBA, BE-Electrical |
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Date of Appointment : |
27.09.2011 |
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PAN No.: |
AADPD9624J |
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DIN No.: |
03586283 |
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Other Directorship :
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Name : |
Mr. Nicolas Banerjea Brodeur |
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Designation : |
Director |
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|
Address : |
Marburger Street 12, 10789, Deutschland, Berlin, Germany 000000 |
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Date of Birth/Age : |
07.11.1974 |
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Date of Appointment : |
19.06.2013 |
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DIN No.: |
05223312 |
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KEY EXECUTIVES
|
Name : |
Mr. Arun Kumar Gupta |
|
Designation : |
Secretary |
|
Address : |
B-3/3, Birla Copper Township, Dahej Taluka Vagra, Bharuch - 392001,
Gujarat, India |
|
Date of Birth/Age : |
10.11.1966 |
|
Date of Appointment : |
23.09.2010 |
|
PAN No.: |
AAQPG0702K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 19.06.2013
|
Names of Shareholders |
|
No. of Shares |
|
Bombardier Transportation Capital Holding Netherlands SE, Netherland |
|
1 |
|
Bombardier Transportation Global Holding SE, Netherland |
|
2 |
|
Bourdon Sylvie as
Nominee of Bombardier Transportation Global Holding SE, Netherland |
|
1 |
|
Nicolas Banerjea Brodeur as Nominee of Bombardier
Transportation Global Holding SE, Netherland |
|
1 |
|
Martel Cattin Benoit as Nominee of Bombardier Transportation
Global Holding SE, Netherland |
|
1 |
|
Hvid Kehler Tine as Nominee of Bombardier Transportation Global
Holding SE, Netherland
|
|
1 |
|
Bombardier Transportation (Holdings) Singapore Pte Limited, Singapore |
|
99183947 |
|
|
|
|
|
Total |
|
99183954 |
AS ON 17.08.2013
|
Names of Allottee |
|
No. of Shares |
|
Bombardier Transportation (Holdings) Singapore Pte Limited, Singapore |
|
20785079 |
|
|
|
|
|
Total |
|
20785079 |
AS ON 19.06.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Supplying of Rail Transportation
Systems. |
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Products/ Services : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
· State Bank of India Industrial Finance Branch, Vadodara, Gujarat, India |
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|
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S.R. Batliboi and Company LLP Chartered Accountants |
|
Address : |
Golf View Corporate, Tower-B, Sector-42, Sector Road,
Gurgaon - 122002, Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AALFS0506L |
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|
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Ultimate Holding
company : |
Bombardier Inc Canada |
|
|
|
|
Intermediate
Holding Company : |
· Bombardier Transportation Germany GmbH Bombardier Transportation (Holdings) Singapore Pte Limited
|
|
|
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|
Fellow
Subsidiary Company : |
· Bombardier Transportation Switzerland Limited Bombardier Transportation Denmark A/S Bombardier Transport France S.A.S Bombardier Transportation UK Limited Bombardier Transportation Inc USA Pittsburg Bombardier Transportation Sweden AB Bombardier Transportation Australia Pty Limited Bombardier Transportation Canada Inc Bombardier Transportation Railway Equipment (Qingdao)
Company Limited Bombardier (Singapore) Pte Limited Bombardier Transportation Sig (Th) Limited Bombardier Mass Transit Corporation Bombardier Transportation Financial Services Bombardier Transportation China Limited Bombardier Transportation (Malaysia) Bombardier Transportation Finland OY Bombardier Transportation (Propulsion and Control) Germany
GmbH Bombardier Transportation Belgium Changchun Bombardier Railway Vehicles Company Limited Bombardier Transportation (Shared Service) Philippines Inc Bombardier Transportation Italy S.P.A Bombardier Transportation (Rollst) Derby Bombardier Transportation Australia (Dardenong) Bombardier Transportation Holding SLU Bombardier Corporate Financial Services |
CAPITAL STRUCTURE
AFTER 19.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
360,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 3600.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
119,969,033 |
Equity Shares |
Rs. 10/- each |
Rs. 1199.690
Millions |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
360,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 3600.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
99,183,954 |
Equity Shares |
Rs. 10/- each |
Rs. 991.840
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
991.840 |
818.080 |
|
(b) Reserves & Surplus |
|
(234.450) |
224.340 |
|
(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) |
|
757.390 |
1042.420 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1086.540 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
7.430 |
0.000 |
|
(d) long-term
provisions |
|
96.540 |
96.900 |
|
Total Non-current
Liabilities (3) |
|
1190.510 |
96.900 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
0.000 |
|
(b)
Trade payables |
|
2032.040 |
1509.420 |
|
(c)
Other current liabilities |
|
2422.850 |
4018.280 |
|
(d) Short-term
provisions |
|
658.840 |
845.690 |
|
Total Current
Liabilities (4) |
|
5113.730 |
6373.390 |
|
|
|
|
|
|
TOTAL |
|
7061.630 |
7512.710 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
1826.570 |
1884.860 |
|
(ii) Intangible
Assets |
|
1.180 |
2.480 |
|
(iii)
Capital work-in-progress |
|
66.640 |
156.360 |
|
(iv)
Intangible assets under development |
|
7.570 |
7.570 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
1801.730 |
1230.850 |
|
(e) Other
Non-current assets |
|
19.410 |
28.700 |
|
Total Non-Current
Assets |
|
3723.100 |
3310.820 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1127.320 |
2004.900 |
|
(c)
Trade receivables |
|
590.270 |
699.150 |
|
(d) Cash
and cash equivalents |
|
867.090 |
470.230 |
|
(e)
Short-term loans and advances |
|
634.030 |
876.440 |
|
(f) Other
current assets |
|
119.820 |
151.170 |
|
Total
Current Assets |
|
3338.530 |
4201.890 |
|
|
|
|
|
|
TOTAL |
|
7061.630 |
7512.710 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
349.550 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1466.278 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1815.828 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
891.744 |
|
|
TOTAL BORROWING |
|
|
891.744 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2707.572 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2092.211 |
|
|
Capital work-in-progress |
|
|
163.844 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
7944.844
|
|
|
Sundry Debtors |
|
|
881.264
|
|
|
Cash & Bank Balances |
|
|
1502.814
|
|
|
Other Current Assets |
|
|
580.415
|
|
|
Loans & Advances |
|
|
1947.670
|
|
Total
Current Assets |
|
|
12857.007
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
7936.681
|
|
|
Other Current Liabilities |
|
|
3941.778
|
|
|
Provisions |
|
|
527.031
|
|
Total
Current Liabilities |
|
|
12405.490
|
|
|
Net Current Assets |
|
|
451.517
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2707.572 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
5954.970 |
7610.690 |
16135.760 |
|
|
|
Other Income |
144.620 |
115.300 |
114.868 |
|
|
|
TOTAL (A) |
6099.590 |
7725.990 |
16250.628 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
4307.750 |
6670.400 |
|
|
|
|
Purchases of stock-in-trade |
57.910 |
425.410 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
(19.060) |
(0.180) |
|
|
|
|
Employee benefit expense |
1103.270 |
758.540 |
|
|
|
|
Other expenses |
1430.520 |
2638.670 |
|
|
|
|
TOTAL (B) |
6880.390 |
10492.840 |
16511.121 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(780.800) |
(2766.850) |
(260.493) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
150.380 |
172.170 |
57.870 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(931.180) |
(2939.020) |
(318.363) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
240.940 |
270.740 |
285.987 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX (E-F) (G) |
(1172.120) |
(3209.760) |
(604.350) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
16.450 |
0.000 |
127.686 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(1188.570) |
(3209.760) |
(732.036) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Software development |
155.160 |
112.030 |
86.530 |
|
|
|
Export of Goods on F.O.B. basis |
67.260 |
8.350 |
0.840 |
|
|
|
Reimbursement of expenses |
241.720 |
92.760 |
147.910 |
|
|
TOTAL EARNINGS |
464.140 |
213.140 |
235.280 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components (including Goods purchased
for Resale) |
1825.920 |
3289.360 |
6763.250 |
|
|
|
Enterprise Resource Planning Software Package/Software |
0.000 |
0.000 |
7.390 |
|
|
|
Capital goods |
2.870 |
10.410 |
40.630 |
|
|
TOTAL IMPORTS |
1828.790 |
3299.770 |
6811.270 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(12.65) |
(86.42) |
(20.94) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(19.49)
|
(41.54)
|
(4.50)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(19.68)
|
(42.17)
|
(3.75)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(16.77)
|
(43.68)
|
(4.04)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.55)
|
(3.08)
|
(0.33)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.43
|
0.00 |
0.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.65
|
0.66 |
1.04 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2012 |
31.03.2013 |
|
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
|
818.080 |
991.840 |
|
Reserves & Surplus |
|
224.340 |
(234.450) |
|
Net
worth |
|
1042.420 |
757.390 |
|
|
|
|
|
|
long-term borrowings |
|
0.000 |
1086.540 |
|
Short term borrowings |
|
0.000 |
0.000 |
|
Total
borrowings |
|
0.000 |
1086.540 |
|
Debt/Equity
ratio |
|
0.000 |
1.435 |
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 |
16135.760 |
7610.690 |
5954.970 |
|
|
|
-52.833 |
-21.755 |
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
|
16135.760 |
7610.690 |
5954.970 |
|
Profit |
(732.036) |
(3209.760) |
(1188.570) |
|
|
(4.54%) |
(42.17%) |
(19.96%) |
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 |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90056614 |
09/07/1999 * |
80,000,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
15; KASTURBA GANDHI MARG, NEW DELHI - 110001, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Rupee term loans from others |
1086.540 |
0.000 |
|
|
|
|
|
Total |
1086.540 |
0.000 |
CORPORATE INFORMATION
Subject is in the business of manufacturing and supply of Rail
Transportation systems. In the propulsion business, the Company manufactures
traction/auxiliary converters, vacuum circuit breakers, control electronics and
tap changers and trades in transformers. In the signaling business, the Company
is engaged in the supply and installation of signaling equipment and In the
Metro Trains business, the Company manufactures and is engaged in the supply of
coaches, bogies for metro trains.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
(a) Custom duty including interest thereon on raw materials,
Components, equipment, etc under EPCG Scheme* |
453.980 |
407.260 |
|
(b) Pending labour cases** |
26.440 |
67.360 |
|
(c) Demands for the
assessment years 2007-08 to 2009-10 raised by income tax authorities but
being disputed by the Company. These demands are mainly on account of
adjustments made to the transaction values by the income tax authorities
based on arm's length price of International transactions entered with the
associated enterprises. The Company has filed appeal with the Income tax
Appellate Tribunal /Commissioner of income tax (appeals) against the orders
for the assessment years 2007-08 and 2008-09 .The Company is in the process
of filing appeal against the demand raised for the assessment year 2009-10.
The income tax authorities have recovered demanded amount for the assessment
years 2007-08 and 2008-09 of Rs 119.900 millions out of refunds due of
subsequent years **. |
299.040 |
119.900 |
|
(d) In respect
of Assessment Year 2005-06, the income tax authorities have raised demand for
penalty. The Company has filed an appeal against the above order with the
Commissioner of Income Tax (Appeals)**. |
1.250 |
1.250 |
|
(e) Adhoc loading
of 1% of the invoice value on all imports from related parties, made by
custom authorities but disputed by the Company |
58.000 |
54.430 |
|
(f) Show cause
notice raised by service tax department, but disputed by the Company ** |
649.120 |
0.000 |
|
(g) Other claims
against the Company not acknowledged as debts** |
128.120 |
129.400 |
|
|
|
|
|
Total |
1615.950 |
779.600 |
|
Notes: * Based on sales
orders in hand and future sales plan, the management is quite hopeful to meet
the obligation by executing the required volume of sales in future. ** Based on
favourable decisions in similar cases, legal opinion taken by the Company,
discussions with the solicitors, etc., the Company believes that there is a
fair chance of decision in its favour and hence, no provision is considered
necessary against the same. |
||
FIXED ASSETS:
· Land
Buildings
Plant
and equipment
Furniture
and fixtures
Vehicles
Motor
vehicles
Office
equipment
Leasehold
improvements
Other
equipments
Computer
software
Know-how
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. 61.75 |
|
|
1 |
Rs. 100.07 |
|
Euro |
1 |
Rs. 77.95 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
-- |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
26 |
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.