MIRA
INFORM REPORT
|
Report Date : |
07.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
NSSL PRIVATE LIMITED (w.e.f 30.09.2014) |
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Formerly Known
As : |
NSSL LIMITED (w.e.f 06.10.2005) NECO SCHUBERT AND SALZER LIMITED (w.e.f 14.05.1996) NECO VALVES LIMITED (w.e.f 07.02.1995) BHILAI IRON FOUNDRY LIMITED |
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Registered
Office : |
F – 8, MIDC Industrial Ares, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
23.04.1981 |
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Com. Reg. No.: |
11-163100 |
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Capital
Investment / Paid-up Capital : |
Rs.239.866 Millions |
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CIN No.: [Company Identification
No.] |
U27310MH1981PTC163100 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
NGPN01511G |
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PAN No.: [Permanent Account No.] |
AAACN7173N |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Valves like, Brass Valves, Auto Components etc. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 company’s average financial risk
profile and continuous dip in profit of the company over a year. However, trade relations are fair. Business is active. Payments terms
are reported to be slow but correct. The company can be considered for business dealings with some caution.
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NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
ICRA |
|
Rating |
Long term fund based limits – Cash credit: D (Suspended) |
|
Rating Explanation |
Instruments with this rating are in default or expected to be in
default on maturity. |
|
Date |
February 2014 |
Reason for suspension: Absence of the requisite
information.
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 (91-7104-662500)
LOCATIONS
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Registered Office / Factory : |
F-8, M.I.D.C. Industrial Area, |
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Tel. No.: |
91-7104-237276 / 236251 / 236255 / 237471 / 237472 /
237461 / 662500 |
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Fax No.: |
91-7104-236255 / 237583 / 237586 |
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E-Mail : |
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Website : |
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Head Office : |
T – 44/ 45, M.I.D.C. Industrial
Area, Hingna Road, Nagpur – 440 016, Maharashtra, India |
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Tel. No.: |
91-7104-662500 / 232726 /
232727 / 237042 / 232725 |
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Fax No.: |
91-7104-232725 / 237583 /
236255 |
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Factory : |
Also Located At : ·
Chennai ·
Italy ·
Qatar |
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Valve Division:
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Tel No : 91-7104-662500 (30 Lines) / 232726, 232742 Fax No : 91-7104-662509 / 232725 |
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Brass Valve Division:
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Tel No: 91-7104-232726 / 232727 / 237042 Fax No: 91-7104-232725 |
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Auto Components:
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Tel No: 91-7104-662500 (30 Lines) / 232726, 232742 Fax No: 91-7104-662509/ 232725 |
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Branch Office : |
Located at:
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DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Anand Arvindkumar Jayaswal |
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Designation : |
Managing director |
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Address : |
Usha Sadan, 246, PT. R.S.S. Marg, Civil Lines, |
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Experience : |
10 Years |
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Date of Birth/Age : |
10.11.1976 |
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Date of Appointment : |
01.04.2008 |
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DIN No. : |
00192612 |
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PAN No.: |
ABVPJ9068P |
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Name : |
Mr. Siddharth Jaiswal |
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Designation : |
Whole time director |
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Address : |
45/4, Nehru Nagar, (West), Bhilai – 490020, Chhattisgarh, India |
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Date of Birth/Age : |
14.04.1982 |
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Date of Appointment : |
25.05.2013 |
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DIN No. : |
00405510 |
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PAN No.: |
AAOPJ3060D |
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Name : |
Mr. Awadh Bihari Pandey |
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Designation : |
Director |
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Address : |
102, Ujawal Apartment, 51/E, Trimurty Nagar, |
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Date of Birth/Age : |
20.08.1951 |
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Date of Appointment : |
04.09.2004 |
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DIN No. : |
01801851 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Basant Lall
Shaw |
574000 |
|
Arbind Jayaswal |
1276000 |
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Ramesh Jayaswal |
792000 |
|
Nisha Jayaswal |
56000 |
|
Rita Jayaswal |
16000 |
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Jayaswal Holdings Private Limited, India |
2014072 |
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Anand Jayaswal |
90000 |
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Avneesh Jayaswal |
32000 |
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Neco Leasing and Finance Private Limited, India |
728000 |
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Basant Lall |
32000 |
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Arbind Jayaswal (HUF) |
40000 |
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Ramesh Jayaswal |
128000 |
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Vibrant Electronics Limited, India |
1000000 |
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Parivar Food Industries Private Limited, India |
1000000 |
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Jyotikant Investments Private Limited, India |
1130000 |
|
Arnold Kawlath |
90000 |
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Bertram Kawlath |
90000 |
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Jayaswal Neco Energy Private Limited, India (Formally Surya Sandhya
Merchants Private Limited ) |
2102500 |
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Nine Star Plastic Packaging Private Limited, India |
2216250 |
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Avon Sales and Services Private Limited, India |
2179000 |
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Anurag Sales and Services Private Limited, India |
2446000 |
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Jayaswal neco Metallics Private Limited, India |
2048500 |
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Karamveer Impex Private Limited, India |
1968750 |
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Apex Spinning Mills Private Limited, India |
1937500 |
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Total |
23986572 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
0.75 |
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Bodies corporate |
86.59 |
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Directors or relatives of Directors |
12.66 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Valves like, Brass Valves, Auto Components etc. |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2011)
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Particulars |
Unit |
Installed
Capacity |
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Ferrous Valves |
In numbers |
74000 |
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Brass Valves Components |
In numbers |
10710630 |
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Auto Components Machining
I |
In numbers |
152050 |
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Aluminium Products |
In numbers |
4000 |
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Particulars |
Unit |
Actual
Production |
|
Ferrous Valves |
In numbers |
28321 |
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Brass Valves Components |
In Kgs.* |
266554 |
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Steel and Aluminium
Components |
In Kgs. |
7000 |
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Auto Components Machining
|
In numbers ** |
272639 |
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Aluminium Products |
In numbers |
14271 |
NOTES:
** Includes 40468 numbers on job work basis.
*Includes Production of Copper Items
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
· Industrial Development Bank of India, IDBI Tower, WTC Complex; Colaba, Mumbai - 400005, Maharashtra, India · State Bank of India, Industrial Finance Branch, No 5, Sai Complex, Bharat Nagar, Amravati Road, Post Box No 401, Nagpur - 440010, Maharashtra, India ·
Export-Import Bank of India, Centre One; World
Trade Center, Cuffe Parade, Mumbai - 400005, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
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Financial
Institute: |
Sicom Limited, Nirmal Bldg1st Floor, Nariman Point, Mumbai
- 400021, Maharashtra, India |
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Auditors : |
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Name 1 : |
V.R. Inamdar
and Company Chartered
Accountants |
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Address : |
502, Paul
Commercial Complex, |
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Tel. No.: |
91-712-2246662 |
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Pan No.: |
AABFV6391G |
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Name 2 : |
Arawal
Chhallani and Company Chartered
Accountants |
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Address : |
51, New
Colony, Nagpur-440001, Maharashtra, India
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Pan No.: |
AACFA2753L |
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Subsidiary company: |
· Econo Valves Limited, India [U35999TN1981PLC008916] · NSSL Italia Srl |
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Enterprises which
are owned, or have
significant influence of or are
partners with Key management personnel and their
relatives: |
· Jayaswal Neco Industries Limited, India [L28920MH1972PLC016154] · Neco Heavy Engineering And Castings Limited, India [U27300MH1987PLC045436] · Neco Ceramics Limited, India [U99999MH1930PLC010268] · Steel and Tube Exports Limited, India [U27106MH1982PLC027084] · Neco Defence Systems Limited, India [U75301MH2010PLC204477] · Abhijeet Projects Limited, India [U51109WB1996PLC077670] · Deify Infrastructures Limited, India [U45203MH1991PLC062494] · Maa Usha Urja Limited, India [U27300MH1995PLC091956] · Nagpur Fasteners Industries Private Limited, India [U99999MH1982PTC026769] |
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Fellow Subsidiary
company: |
· Nssl Italia Omp Valves Division Srl |
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Associate: |
· Nssl Almana Middle East Wll |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs. 250.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
23986572 |
Equity Shares |
Rs.10/- each |
Rs. 239.866
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
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I.
EQUITY AND LIABILITIES |
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|
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(1)Shareholders' Funds |
|
|
|
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(a) Share Capital |
239.866 |
239.866 |
187.741 |
|
(b) Reserves & Surplus |
1319.359 |
1278.422 |
871.415 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
1559.225 |
1518.288 |
1059.156 |
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(3) Non-Current Liabilities |
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|
|
|
(a) long-term borrowings |
530.676 |
714.150 |
676.523 |
|
(b) Deferred tax liabilities
(Net) |
179.214 |
147.096 |
125.492 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
709.890 |
861.246 |
802.015 |
|
|
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|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1066.600 |
675.216 |
627.933 |
|
(b) Trade payables |
933.976 |
431.130 |
449.602 |
|
(c) Other current liabilities |
257.776 |
339.780 |
187.322 |
|
(d) Short-term provisions |
66.568 |
63.870 |
51.686 |
|
Total
Current Liabilities (4) |
2324.920 |
1509.996 |
1316.543 |
|
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|
|
|
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TOTAL |
4594.035 |
3889.530 |
3177.714 |
|
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|
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II.
ASSETS |
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|
|
|
(1) Non-current assets |
|
|
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1612.016 |
1688.314 |
1145.451 |
|
(ii) Intangible Assets |
7.241 |
8.997 |
9.147 |
|
(iii) Capital work-in-progress |
128.023 |
72.694 |
191.907 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
37.762 |
37.762 |
37.762 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
391.371 |
319.805 |
607.991 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
2176.413 |
2127.572 |
1992.258 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.781 |
0.937 |
|
(b) Inventories |
865.561 |
533.460 |
425.268 |
|
(c) Trade receivables |
1142.282 |
788.020 |
575.482 |
|
(d) Cash and cash equivalents |
62.121 |
46.202 |
38.474 |
|
(e) Short-term loans and
advances |
447.658 |
393.495 |
145.295 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
2517.622 |
1761.958 |
1185.456 |
|
|
|
|
|
|
TOTAL |
4694.035 |
3889.530 |
3177.714 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
2678.448 |
1985.634 |
1541.524 |
|
|
Other Income |
35.520 |
3.768 |
12.091 |
|
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TOTAL
(A) |
2713.968 |
1989.402 |
1553.615 |
|
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|
|
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Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1112.598 |
1424.965 |
965.620 |
|
|
Purchases of Stock-in-Trade |
769.450 |
0.000 |
146.769 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(43.963) |
(146.418) |
(105.669) |
|
|
Employees benefits expense |
194.409 |
174.627 |
128.139 |
|
|
Other expenses |
258.180 |
236.656 |
202.842 |
|
|
TOTAL
(B) |
2290.674 |
1689.830 |
1337.701 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
423.294 |
299.572 |
215.914 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
264.488 |
169.317 |
66.300 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
158.806 |
130.255 |
149.614 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
84.277 |
66.566 |
38.537 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
74.529 |
63.689 |
111.077 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
33.592 |
21.557 |
34.099 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
40.937 |
42.132 |
76.978 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
1.71 |
2.02 |
6.57 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.51 |
2.12 |
4.95 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.78 |
3.21 |
7.21 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.65 |
1.69 |
3.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.04 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.02 |
0.92 |
1.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.08 |
1.17 |
0.90 |
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 |
187.741 |
239.866 |
239.866 |
|
Reserves & Surplus |
871.415 |
1278.422 |
1319.359 |
|
Net
worth |
1059.156 |
1518.288 |
1559.225 |
|
|
|
|
|
|
long-term borrowings |
676.523 |
714.150 |
530.676 |
|
Short term borrowings |
627.933 |
675.216 |
1066.600 |
|
Total
borrowings |
1304.456 |
1389.366 |
1597.276 |
|
Debt/Equity
ratio |
1.232 |
0.915 |
1.024 |
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 |
1541.524 |
1985.634 |
2678.448 |
|
|
|
28.810 |
34.891 |
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 |
1541.524 |
1985.634 |
2678.448 |
|
Profit |
76.978 |
42.132 |
40.937 |
|
|
4.99% |
2.12% |
1.53% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
180.405 |
195.955 |
138.910
|
|
|
|
|
|
|
Total |
180.405 |
195.955 |
138.910
|
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OPERATIONS, WORKING
AND FUTURE PROSPECTS
The growth in global economic output is very weak. The valve industry growth in India showed flat growth this year. The growth of the Indian valve industry is dependent on the growth of other industries such as infrastructure, electric power, gas, oil, refinery, chemical industry, pharmaceutical, petroleum, urban construction, etc. The overall economic growth in these sectors during the year was flat. This scenario posed a great challenge for the business prospects. The increasing input costs also have made it difficult to attain optimum utilization of resources at lower costs. In spite of the challenging situation the company has delivered a good performance during the year. The Company has increased the total revenue from Rs. 1989.400 Millions in previous year to Rs. 2713.900 Millions in current year.
The Company is engaged now in full fledged manufacturing of Gate, Globe, Check, Ball and Plug Valves in Cast Steel, Stainless Steel and Alloy Steel materials, Class ranging from 150 to 2500 and size from 2" to 60". These valves are used in Oil, Natural Gas, Petroleum, Petrochemical, Fertilizer, Cement, Pulp, Power and Steel Sectors. NSSL Limited is the first company in India to manufacture and test Cryogenic valves in-house. Seeing the potential in Nuclear sector our company has entered into the manufacturing and testing of Seismic valves in-house, thereafter, one of the few companies worldwide to bag an order from Saudi Aramco for manufacturing Inconel 825 cladded valves. The Company now also specializes in the manufacturing of Cryogenic Service application valves. The company has tested upto 24" x 300# Gate valve in our in-house cryogenic testing facility. The company now has clients worldwide and export valves to Kuwait, Saudi Arabia, UAE, Jordan, Israel, South Africa, The Netherlands, UK, Germany etc.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Deferred payment liabilities |
106.643 |
102.490 |
|
Short-term
borrowings |
|
|
|
Other loans and advances, others |
8.999 |
2.500 |
|
Total |
115.642 |
104.990 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10468618 |
13/12/2013 |
100,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, 5, SAI COMPLEX, BHARAT NAGAR, AMRAVATI ROAD, NAGPUR, MAHARASHTRA - 440010, INDIA |
B92793777 |
|
2 |
10349421 |
30/03/2012 |
1,630,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH, NO 5, SAI COMPLEX, BHA |
B37497385 |
|
3 |
10210857 |
08/12/2010 * |
890,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH NO.5, SAI COMPLEX, BHAR |
B01957661 |
|
4 |
10200592 |
03/12/2010 * |
290,000,000.00 |
SICOM LIMITED |
NIRMAL BLDG1ST
FLOOR, NARIMAN POINT, MUMBAI, MAHA |
B01915792 |
|
5 |
10198021 |
07/01/2010 |
300,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH, UNION BANK BHAVAN, 239, |
A78005501 |
|
6 |
10038586 |
09/01/2014 * |
2,880,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH, NO 5, SAI COMPLEX, BHA |
B94341203 |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Furniture and fixtures
· Office equipment
· Plant and equipment
· Computer equipments
Intangible assets
· 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.100.02 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.