MIRA
INFORM REPORT
|
Report Date : |
07.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
HERO FINCORP LIMITED (w.e.f. 26.07.2011) |
|
|
|
|
Formerly Known
As : |
HERO
HONDA FINLEASE LIMITED |
|
|
|
|
Registered
Office : |
34, Community Centre, Basant Lok, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
16.12.1991 |
|
|
|
|
Com. Reg. No.: |
55-046774 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 181.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1991PLC046774 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in providing Financial Services, Primarily to
Automotive manufacturing Industry. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (73) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 8300000 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Good |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having excellent track record. Financial position of the company is sound. Fundamentals of the
company are healthy. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular and as per commitment. The company can be considered good 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: “AA+” |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
19.08.2014 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A1+” |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
19.08.2014 |
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
Management Non-cooperative. (Tel. No.: 91-11-46044100)
LOCATIONS
|
Registered Office : |
34, Community Centre, Basant Lok, New Delhi – 110057, India |
|
Tel. No.: |
91-11-46044100 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on: 19.07.2013
|
Name : |
Mr. Brijmohan Lall Munjal |
|
Designation : |
Chairman |
|
Address : |
B-109, Greater Kailash Part – I, New Delhi, India |
|
Date of Birth/Age : |
01.07.1923 |
|
Date of Appointment : |
16.12.1991 |
|
DIN No.: |
00004134 |
|
|
|
|
Name : |
Mr. Renu Munjal |
|
Designation : |
Managing director |
|
Address : |
B-109, Greater Kailash Part – I, New Delhi, India |
|
Date of Birth/Age : |
06.03.1955 |
|
Date of Appointment : |
11.07.1992 |
|
DIN No.: |
00012870 |
|
|
|
|
Name : |
Mr. Pawan Munjal |
|
Designation : |
Director |
|
Address : |
N-87, Panchsheel Park, New Delhi – 110017, India |
|
Date of Birth/Age : |
29.10.1954 |
|
Date of Appointment : |
16.12.1991 |
|
DIN No.: |
00004223 |
|
|
|
|
Name : |
Mr. Dharmenbdar Nath Davar |
|
Designation : |
Director |
|
Address : |
B-5/ 82, Safdarjung Enclave, New Delhi – 110029, India |
|
Date of Birth/Age : |
08.08.1934 |
|
Date of Appointment : |
30.08.1995 |
|
DIN No.: |
00002008 |
KEY EXECUTIVES
|
Name : |
Mr. Tribhuwan K Johari |
|
Designation : |
Secretary |
|
Address : |
Building No. 5, 4th Floor, 1st School Lane, Near
Ghitorni Boys School, Ghitorni, New Delhi – 110030, India |
|
Date of Birth/Age : |
26.01.1980 |
|
Date of Appointment : |
26.04.2012 |
|
PAN No.: |
ACMPJ3511H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 19.07.2013
SHAREHOLDERS DETAILS FILE ATTACHED.
Equity Share Break up (Percentage of Total Equity)
As on: 19.07.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
68.27 |
|
Directors or relatives of directors |
|
7.19 |
|
Other top fifty shareholders |
|
5.99 |
|
Others |
|
18.55 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in providing Financial Services, Primarily to
Automotive manufacturing Industry. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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|
Bankers : |
· Standard Chartered Bank, Credit Operation, 4th Floor, DLF Center ; Sansad Marg, New Delhi, Delhi, India · Kotak Mahindra Bank Limited, 15 - 16, UGF, Ambadeep Building, 14 K G Marg, New Delhi - 110001, Delhi, India · ABN AMRO Bank, N.V. DLF Centre, Sansad Marg, New Delhi - 110001, Delhi, India · Dhanlaxmi Bank Limited, Dhanalakshmi Bank Building, Naickanal, Trichur - 680001, Kerala, India · The Bank of Tokyo-Mitsubishi UFJ Limited, Jeevan Vihar Building, 3 Parliament Street, New Delhi - 110001, Delhi, India · The Hong Kong And Shanghai Banking Corporation Limited, 25, Barakhambha Road, New Delhi - 110001, Delhi, India ·
Australia and New Zealand Banking Group
Limited, Cnergy, 6th Floor, Appasaheb Marathe Marg, Prabhadevi, Mumbai -
400025, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. S. Kothari Mehta and Company Chartered Accountants |
|
Address : |
146-149, Tribhuvan Complex, Ishwar Nagar, Mathura Road, New Delhi –
110065, India |
|
PAN No.: |
AABFS6760L |
CAPITAL STRUCTURE
As on: 19.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs. 500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45250000 |
Equity Shares |
Rs.10/- each |
Rs. 452.500
Millions |
|
|
|
|
|
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs. 500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18100000 |
Equity Shares |
Rs.10/- each |
Rs. 181.000
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 |
181.000 |
90.500 |
90.500 |
|
(b) Reserves & Surplus |
1907.436 |
830.275 |
794.737 |
|
(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) |
2088.436 |
920.775 |
885.237 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
500.000 |
58.633 |
491.833 |
|
(b) Deferred tax liabilities (Net) |
9.783 |
6.042 |
0.209 |
|
(c) Other long
term liabilities |
23.539 |
34.923 |
35.814 |
|
(d) long-term
provisions |
2.439 |
2.068 |
4.989 |
|
Total Non-current
Liabilities (3) |
535.761 |
101.666 |
532.845 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
4748.849 |
2615.828 |
1052.274 |
|
(b)
Trade payables |
2.319 |
9.351 |
1.804 |
|
(c)
Other current liabilities |
205.538 |
555.552 |
232.567 |
|
(d) Short-term
provisions |
68.494 |
109.346 |
105.292 |
|
Total Current
Liabilities (4) |
5025.200 |
3290.077 |
1391.937 |
|
|
|
|
|
|
TOTAL |
7649.397 |
4312.518 |
2810.019 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
704.046 |
628.704 |
617.254 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
6.137 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
45.541 |
45.541 |
45.541 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
180.991 |
22.468 |
31.510 |
|
(e) Other
Non-current assets |
243.811 |
331.288 |
348.348 |
|
Total Non-Current
Assets |
1180.526 |
1028.001 |
1042.653 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
49.675 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
5649.507 |
3080.143 |
1599.483 |
|
(d) Cash
and cash equivalents |
21.034 |
14.209 |
23.383 |
|
(e)
Short-term loans and advances |
789.747 |
188.687 |
94.662 |
|
(f)
Other current assets |
8.583 |
1.478 |
0.163 |
|
Total Current
Assets |
6468.871 |
3284.517 |
1767.366 |
|
|
|
|
|
|
TOTAL |
7649.397 |
4312.518 |
2810.019 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
701.604 |
510.548 |
510.670 |
|
|
|
Other Income |
90.019 |
76.302 |
73.461 |
|
|
|
TOTAL (A) |
791.623 |
586.850 |
584.131 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
22.936 |
17.606 |
17.540 |
|
|
|
Other expenses |
56.045 |
17.608 |
16.261 |
|
|
|
TOTAL (B) |
78.981 |
35.214 |
33.801 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
712.642 |
551.636 |
550.330 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
323.085 |
240.637 |
222.554 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
389.557 |
310.999 |
327.776 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
105.729 |
92.557 |
98.784 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
283.828 |
218.442 |
228.992 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
93.389 |
77.723 |
72.413 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
190.439 |
140.719 |
156.579 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
101.995 |
118.907 |
120.959 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
19.100 |
14.100 |
15.700 |
|
|
|
Dividend |
(54.300) |
90.500 |
90.500 |
|
|
|
Transfer to Statutory Reserve |
38.100 |
28.200 |
31.400 |
|
|
|
Tax on Dividend |
9.228 |
14.681 |
14.681 |
|
|
BALANCE CARRIED
TO THE B/S |
153.431 |
101.995 |
118.907 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
18.29 |
15.55 |
17.30 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
24.06 |
23.98 |
26.81 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
40.45 |
42.79 |
44.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.74 |
5.12 |
8.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.24 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.51 |
2.90 |
1.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.29 |
1.00 |
1.27 |
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 |
90.500 |
90.500 |
181.000 |
|
Reserves & Surplus |
794.737 |
830.275 |
1907.436 |
|
Net worth |
885.237 |
920.775 |
2088.436 |
|
|
|
|
|
|
long-term borrowings |
491.833 |
58.633 |
500.000 |
|
Short term borrowings |
1052.274 |
2615.828 |
4748.849 |
|
Total borrowings |
1544.107 |
2674.461 |
5248.849 |
|
Debt/Equity ratio |
1.744 |
2.905 |
2.513 |
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 |
510.670 |
510.548 |
701.604 |
|
|
|
(0.024) |
37.422 |
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 |
510.670 |
510.548 |
701.604 |
|
Profit |
156.579 |
140.719 |
190.439 |
|
|
30.66% |
27.56% |
27.14% |
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 |
No |
|
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 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
SHORT TERM
BORROWINGS |
|
|
|
Inter-corporate deposits from related parties |
2400.000 |
1200.000 |
|
Short term loan from banks |
450.000 |
250.000 |
|
|
|
|
|
Total |
2850.000 |
1450.000 |
OPERATIONS
During the year, the total revenue has shown an impressive growth of 34.90 percent from Rs. 586.800 millions in 2011-12 to Rs. 791.600 millions in 2012-13. Similarly the Profit before tax (PBT) increased by 29.95 s percent from Rs. 218.400 millions in 2011-12 to Rs. 283.800 millions in 2012-13 so also the Profit after tax (PAT) registered an increase of 35.32 percent from Rs. 140.700 millions in 2011-12 to Rs. 190.400 millions in 2012-13.
The major role in the impressive growth in overall financing activities was played by the Income earned from Bills
Discounting, which registered an increase of 46.55 per cent from Rs. 227.700 millions in 2011-12 to Rs. 333.700 millions in 2012-13.
Similarly the Income from Operating Lease has also shown an increase of 38.20 percent from Rs. 133.800 millions in 2011-12 to Rs. 184.900 millions in 2012-13. The finance charges earned from deferred credit grew whoppingly by 130 percent from Rs. 1.000 million in 2011-12 to Rs. 2.300 millions in 2012-13.
FUTURE OUTLOOK
The Company is mainly engaged in providing Financial Services, primarily to Automotive Manufacturing Industry.
Due to overall slowdown in the macroeconomic environment of the country, the Two Wheeler Industry could show a paltry growth of 2.3% with 1582.400 millions units of sales in 2012-13 compared to 1547.000 millions units in YTD 2011-12. However the Board is optimistic about the growth, overtime in this sector.
In the past, the Automotive Sector and the Financial Sector of the Country has simultaneously played a vital role in the growth and performance of the economy. The reach of credit delivery to the unexplored - underserved corners of the Country was extended by the Banks and NBFCs. The Company presently provides captive financing solutions to vendors, dealers and logistic suppliers/ transporters of Hero MotoCorp (HMCL), however the same would now be extended to finance two-wheeler purchases. The proposed financing would be done at the competitive and transparent rates to the two-wheeler customers as against the prevailing interest rates of 26-28 per cent for two-wheeler loans.
By the end of financial year 2013-14, the facility would be expended to 200 dealer outlets and to 450 dealerships by 2014-15. Further by the end of March 2016, it has plans to extend the facility to all the sales outlets of HMCL.
As of March 31, 2013, Hero FinCorp had Equity and Reserves of Rs. 2150.000 millions, however Hero MotoCorp, promoter Company holding appox. 40 per cent is expected to infuse additional equity of around Rs. 2000.000 millions by 2014-15.
INDEX OF CHARGES
|
S.No |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10509944 |
08/07/2014 * |
550,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
7TH FLOOR, AMBADEEP BUILDING, 14, K.G.MARG, NEW DELHI, DELHI - 110001, INDIA |
C13136072 |
|
2 |
10511185 |
04/07/2014 |
600,000,000.00 |
CITICORP FINANCE (INDIA) LIMITED |
8TH FLOOR, FIRST INTERNATIONAL FINANCIAL CENTRE, C-54 & C-55, G-BLOCK, BANDRA KURLA COMPLEX BANDRA (E), MUMBAI, MAHARASHTRA - 400051, INDIA |
C13730775 |
|
3 |
10493109 |
24/03/2014 |
600,000,000.00 |
CITICORP FINANCE (INDIA) LIMITED |
8TH FLOOR, FIRST INTERNATIONAL FINANCIAL CENTRE, C-54 & C-55, G-BLOCK, BANDRA KURLA COMPLEX BANDRA (E), MUMBAI, MAHARASHTRA - 400051, INDIA |
C04285656 |
|
4 |
10485427 |
13/03/2014 |
600,000,000.00 |
THE HONG KONG AND SHANGHAI BANKING CORPORATION LIMITED |
25, BARAKHAMBHA ROAD, NEW DELHI, DELHI - 110001, |
C00666826 |
|
5 |
10472145 |
14/11/2013 |
1,000,000,000.00 |
AXIS TRUSTEE SERVICES LIMITED |
2ND FLOOR, E, AXIS HOUSE, BOMBAY DYEING MILLS, COMPOUND, PANDURANG BUDHAKAR MARG, WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA |
B90930389 |
|
6 |
10390629 |
15/11/2012 |
400,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
15 - 16, UGF, AMBADEEP BUILDING, 14 K G MARG, NEW DELHI, DELHI - 110001, INDIA |
B63596407 |
|
7 |
10335944 |
16/02/2012 |
500,000,000.00 |
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED |
CNERGY, 6TH FOOR, APPASAHEB MARATHE MARG, PRABHADEVI, MUMBAI, MAHARASHTRA - 400025, INDIA |
B32285595 |
|
8 |
10352726 |
22/10/2010 |
100,000,000.00 |
DHANLAXMI BANK LIMITED |
DHANALAKSHMI BANK BUILDING, NAICKANAL, TRICHUR, KERALA - 680001, INDIA |
B21324611 |
|
9 |
10177702 |
08/09/2009 |
250,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA |
A70478102 |
|
10 |
10175781 |
28/06/2010 * |
500,000,000.00 |
INDUSIND BANK LIMITED |
GOPAL DAS BHAWAN, 28 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
A89167969 |
* Date of charge modification
FIXED ASSETS
·
Furniture and Fixture
·
Plant and Machinery
·
Office Equipment
·
Vehicles
·
Computers
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 : |
HTL |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
73 |
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.