MIRA
INFORM REPORT
|
Report Date : |
10.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
OFFSHORE INFRASTRUCTURES LIMITED |
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Formerly Known
As : |
OFFSHORE INFRASTRUCTURES PRIVATE LIMITED OFFSHORE INDUSTRIAL CONSTRUCTION PRIVATE LIMITED |
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Registered
Office : |
22, Udyog Kshetra, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
05.09.1995 |
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Com. Reg. No.: |
11-092409 |
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Capital
Investment / Paid-up Capital : |
Rs. 78.765
Millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U45200MH1995PLC092409 |
|
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUM003493A |
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PAN No.: [Permanent Account No.] |
AAACO1012F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is a construction company, specializing
in Mechanical Construction, Plant and Process Piping, Pipelines and Water
Mains and Distribution Network, Civil and Structural, Total Fire Detection
and Protection Systems, Gas, Water and Oil Distribution Systems and other
Infrastructure projects. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject was set up as a partnership concern in 1985 and later in the year
it took over its business and was reconstituted as a private limited company.
It is an established company having satisfactory track. The company possesses a healthy financial profile marked by a moderate
networth low gearing, and adequate debt protection metrics. Management has reported a decent sales volume as well as net
profitability during FY13. The rating also take into consideration, vulnerability of revenue to
any slowdown in the economy. However, trade relations are fair. Business is active. Payment terms
are reported as regular. In view of long standing presence, the subject can be considered 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.
INDIAN ECONOMIC OVERVIEW
NEWS
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year
before.A sharp fall in gold imports due to restrictions on overseas purchases
and muted import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate, Balakrishnan
joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of the
highest unregistered businesses in the world. Indonesia has the maximum number
of shadow businesses, says a study of 68 countries by Imperial College Business
School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “”BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
02.07.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A2” |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
02.07.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. Tilottam Chawhan |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-66721000 |
|
Date : |
09.10.2014 |
LOCATIONS
|
Registered Office : |
22, Udyog Kshetra, Mulund Link Road, Mumbai - 400080, Maharashtra, India
|
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Tel. No.: |
91-22-25640416/ 66721000 |
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Fax No.: |
91-22-25693885 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Shailesh Sachdev |
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Designation : |
Director |
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Address : |
House No 3, Divya Swapna, C G Marg, Chembur, Mumbai - 400071,
Maharashtra, India |
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Date of Birth/Age : |
25.07.1967 |
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Qualification : |
Diploma In Civil Engineering |
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Date of Appointment : |
05.09.1995 |
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PAN No.: |
AADPS3684D |
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DIN No.: |
00188761 |
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Other Directorship :
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Name : |
Mr. Vishal Ranjit Sachdev |
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Designation : |
Managing director |
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Address : |
House No 3, Divya Swapna, C G Marg, Chembur, Mumbai - 400071,
Maharashtra, India |
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Date of Birth/Age : |
02.10.1963 |
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Qualification : |
Diploma In Mechanical Engineering |
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Date of Appointment : |
01.09.2006 |
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PAN No.: |
ABRPS7387N |
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DIN No.: |
00188764 |
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Other Directorship:
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Name : |
Mr. Mahendra Bahadursingh Chowhan |
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Designation : |
Director |
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Address : |
D-113/114, Lok Aangan, Mulund Colony, Mulund (West), Mumbai – 400082,
Maharashtra, India |
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Date of Birth/Age : |
14.03.1956 |
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Qualification : |
Diploma in Civil Engineering |
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Date of Appointment : |
10.11.2006 |
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PAN No.: |
AAHPC0566G |
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DIN No.: |
00227138 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Tilottam Chawhan |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Vishal Sachdev |
2313750 |
|
Shailesh Sachdev |
1863750 |
|
Ranjit Sachdev (HUF) |
1275375 |
|
Dimple Sachdev |
1143750 |
|
Payal Sachdev |
693750 |
|
Lata Sachdev |
585375 |
|
Vishal Sachdev (HUF) |
375 |
|
Shailesh Sachdev (HUF) |
375 |
|
Total |
7876500 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is a construction company,
specializing in Mechanical Construction, Plant and Process Piping, Pipelines and
Water Mains and Distribution Network, Civil and Structural, Total Fire
Detection and Protection Systems, Gas, Water and Oil Distribution Systems and
other Infrastructure projects. |
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Products/ Services : |
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GENERAL INFORMATION
|
Customers : |
· Indian Oil ONGC JSW TATA BHEL Bharat Petroleum Castrol |
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No. of Employees : |
Not Divulged |
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Bankers : |
· HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India Tel No. 91-22-66521308 IDBI Bank Limited, IDBI Tower, WTC Complex, Cuffe Parade,
Mumbai - 400005, Maharashtra, India Axis Bank Limited, Axis House, Ground Floor, Bombay Dyeing
Mills, Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400025, Maharashtra,
India ICICI Bank Limited Standard Chartered Bank |
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Facilities : |
Note : LONG-TERM BORROWINGS Term Loans from
banks to the extent of Rs. 15.187 Millions secured by way of hypothecation of
plant and Machinery. Term Loans from banks to the extent of Rs.3.086 Million
are secured by way of hypothecation of vehicles. Term Loans from others to
the extent of Rs.0.467 Million secured by way of hypothecation of plant and
Machinery Term Loans from others to the extent of Rs. NIL/- are secured by
way of hypothecation of vehicles. SHORT-TERM BORROWINGS Working Capital
borrowings are secured by way of first charge on fixed assets (excluding vehicles
and encumbered Plant and Machinery) and Stock, book debts and other current
assets of the company and collateral security of equitable mortgage of
immovable properties of the company and the shareholders, and fixed deposits
and personal guarantees of directors and members of the company. |
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Banking
Relations : |
-- |
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|
|
Financial Institutions : |
Sundaram Finance Limited, 21 Patullos Road, Chennai -
600002, Tamilnadu, India |
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Auditors : |
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|
Name : |
Chandan Parmar and Company Chartered Accountants |
|
Address : |
Alli Chambers, Ground Floor, Homi Modi, 2nd Cross Lane, Fort, Mumbai –
400023, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAEFC5050A |
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Associates
Companies : |
· Offshore Welders Private Limited Offshore Computers Private Limited Offshore Infrastructures Egypt United New Fire Protection Systems Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,876,500 |
Equity Shares |
Rs. 10/- each |
Rs. 78.765
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 |
78.765 |
78.765 |
78.765 |
|
(b) Reserves & Surplus |
741.785 |
592.184 |
462.476 |
|
(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) |
820.550 |
670.949 |
541.241 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
113.495 |
110.071 |
116.457 |
|
(b) Deferred tax liabilities (Net) |
5.088 |
4.427 |
3.911 |
|
(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) |
118.583 |
114.498 |
120.368 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
246.150 |
359.217 |
358.374 |
|
(b) Trade payables |
856.187 |
578.114 |
784.580 |
|
(c) Other current
liabilities |
343.895 |
104.100 |
63.721 |
|
(d) Short-term provisions |
0.627 |
1.661 |
2.683 |
|
Total Current Liabilities (4) |
1446.859 |
1043.092 |
1209.358 |
|
|
|
|
|
|
TOTAL |
2385.992 |
1828.539 |
1870.967 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
287.384 |
253.018 |
233.668 |
|
(ii) Intangible Assets |
1.306 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.038 |
0.038 |
0.038 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
14.347 |
13.620 |
13.241 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
303.075 |
266.676 |
246.947 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
566.644 |
243.230 |
504.708 |
|
(c) Trade receivables |
795.149 |
857.499 |
707.995 |
|
(d) Cash and cash
equivalents |
535.434 |
315.800 |
257.969 |
|
(e) Short-term loans
and advances |
112.783 |
99.137 |
109.939 |
|
(f) Other current assets |
72.907 |
46.197 |
43.409 |
|
Total Current Assets |
2082.917 |
1561.863 |
1624.020 |
|
|
|
|
|
|
TOTAL |
2385.992 |
1828.539 |
1870.967 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
3365.764 |
3232.948 |
3671.666 |
|
|
|
Other Income |
26.921 |
19.766 |
12.619 |
|
|
|
TOTAL |
3392.685 |
3252.714 |
3684.285 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1134.034 |
923.779 |
1835.766 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
(323.415) |
261.478 |
(177.273) |
|
|
|
Employee benefit expense |
682.907 |
551.507 |
434.782 |
|
|
|
Other expenses |
1561.036 |
1198.74 |
1263.592 |
|
|
|
TOTAL |
3054.562 |
2935.504 |
3356.867 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
338.123 |
317.210 |
327.418 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
85.522 |
84.043 |
63.319 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
252.601 |
233.167 |
264.099 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
43.008 |
37.257 |
33.004 |
|
|
|
|
|
|
|
|
|
|
EXCEPTIONAL ITEMS |
0.000 |
0.000 |
(0.930) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
209.593 |
195.910 |
230.165 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
70.509 |
66.201 |
78.684 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
139.084 |
129.709 |
151.481 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1.492 |
11.478 |
14.274 |
|
|
|
Capital Goods |
10.807 |
5.000 |
19.392 |
|
|
TOTAL IMPORTS |
12.299 |
16.478 |
33.666 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
17.66 |
16.47 |
19.23 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.10 |
3.99 |
4.11 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.23 |
6.06 |
6.27 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.78 |
10.71 |
12.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.29 |
0.43 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.44 |
0.70 |
0.88 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.44 |
1.50 |
1.34 |
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 |
78.765 |
78.765 |
78.765 |
|
Reserves & Surplus |
462.476 |
592.184 |
741.785 |
|
Net
worth |
541.241 |
670.949 |
820.550 |
|
|
|
|
|
|
long-term borrowings |
116.457 |
110.071 |
113.495 |
|
Short term borrowings |
358.374 |
359.217 |
246.150 |
|
Total
borrowings |
474.831 |
469.288 |
359.645 |
|
Debt/Equity
ratio |
0.877 |
0.699 |
0.438 |
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 |
3671.666 |
3232.948 |
3365.764 |
|
|
|
(11.949) |
4.108 |
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 |
3671.666 |
3232.948 |
3365.764 |
|
Profit |
151.481 |
129.709 |
139.084 |
|
|
4.13% |
4.01% |
4.13% |
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 |
Yes |
|
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 |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
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 |
LITIGATION DETAILS
|
LITIGATION DETAILS |
||||||||
|
Bench:- Bombay |
|
|||||||
|
Lodging No:- |
ARBPL/744/2014 |
Failing Date:- |
02.05.2014 |
Reg. No.:- |
ARBP/825/2014 |
Reg. Date:- |
21.06.2014 |
|
|
|
||||||||
|
Petitioner:- |
HINDUSTAN PETROLEUM CORPORATION LIMITED |
Respondent:- |
OFFSHORE INFRASTRUCTURES LIMITED |
|||||
|
Petn.Adv:- |
S. R. PAGE (0) |
|||||||
|
District:- |
MUMBAI |
|||||||
|
|
||||||||
|
Bench:- |
DIVISION |
Category:- |
ARBITRATION ACT |
|||||
|
Status:- |
Pre-Admission |
Stage:- |
ARBP FOR ADMISSION U/S 34 FRESH |
|||||
|
Last Date:- |
22/08/2014 |
|||||||
|
Last Coram:- |
HON’BLE SHRI JUSTICE A.A. SAYED |
|||||||
|
|
|
|||||||
|
Act:- |
Arbitration and Conciliation Act 1996 |
Under Section:- |
34 |
|||||
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10502032 |
09/06/2014 |
3,059,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
C06150072 |
|
2 |
10495592 |
29/04/2014 |
500,000,000.00 |
STANDARD CHARTERED BANK |
NARAIN
MANZIL, 23, BARAKHAMBA ROAD, NEW DELHI, |
C04737177 |
|
3 |
10482259 |
15/02/2014 |
330,000,000.00 |
AXIS BANK LIMITED |
CORPORATE
BANKING BRANCH,AXIS HOUSE, C - 2, WADIA |
B98369986 |
|
4 |
10481743 |
09/01/2014 |
2,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA |
B98164213 |
|
5 |
10466073 |
29/11/2013 |
250,000,000.00 |
STANDARD CHARTERED BANK |
NARAIN
MANZIL, 23, BARAKHAMBA ROAD, DELHI, DELHI |
B91920678 |
|
6 |
10360872 |
26/05/2012 |
500,000.00 |
AXIS BANK LIMITED |
1ST
FLOOR, JANMABHOOMI BHAVAN, JANMABHOOMI MARG, |
B41727629 |
|
7 |
10317888 |
08/10/2012 * |
700,000,000.00 |
AXIS BANK LIMITED |
CORPORATE
BANKING BRANCH,AXIS HOUSE, C - 2, WADIA |
B61872818 |
|
8 |
10267379 |
24/01/2011 |
3,841,200.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA |
B05717376 |
|
9 |
10230842 |
25/06/2010 |
1,934,600.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, TAMIL NADU - 600002, INDIA |
A89840730 |
|
10 |
10225623 |
17/06/2010 |
6,333,168.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, TAMIL NADU - 600002, INDIA |
A88063235 |
|
11 |
10218904 |
21/06/2011 * |
490,000,000.00 |
STANDARD CHARTERED BANK |
CRESCENZO, 3A/F, PLOT NO. C-38 & 39, G BLOCK, BANDRA KURLA COMPLEX, BANDRA, MUMBAI, MAHARASHTRA - 400051, INDIA |
B16203317 |
|
12 |
10199397 |
22/01/2010 |
1,924,999.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, TAMIL NADU - 600002, INDIA |
A78429065 |
|
13 |
10202781 |
20/01/2010 |
607,530.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, TAMIL NADU - 600002, INDIA |
A79514279 |
|
14 |
10196179 |
29/12/2009 |
1,933,049.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, TAMIL NADU - 600002, INDIA |
A77292696 |
|
15 |
10188346 |
27/11/2009 |
596,787.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, TAMIL NADU - 600002, INDIA |
A74367376 |
|
16 |
10193021 |
18/11/2009 |
150,000,000.00 |
YES BANK LIMITED |
9TH
FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. |
A75734558 |
|
17 |
10187595 |
07/10/2009 |
3,569,050.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA |
A74011164 |
|
18 |
10173702 |
13/01/2010 * |
500,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA |
A79754347 |
|
19 |
10168731 |
01/07/2009 |
595,550.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, TAMIL NADU - 600002, INDIA |
A66509860 |
|
20 |
10165397 |
25/06/2009 |
567,055.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, TAMIL NADU - 600002, INDIA |
A64791908 |
|
21 |
10168672 |
22/06/2009 |
1,198,750.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, TAMIL NADU - 600002, INDIA |
A66347550 |
|
22 |
10168673 |
22/06/2009 |
1,198,750.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, TAMIL NADU - 600002, INDIA |
A66349325 |
|
23 |
10168729 |
22/06/2009 |
1,198,750.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, TAMIL NADU - 600002, INDIA |
A66509803 |
|
24 |
10168730 |
22/06/2009 |
1,198,750.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, TAMIL NADU - 600002, INDIA |
A66509837 |
|
25 |
10155089 |
25/03/2009 |
896,000.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, TAMIL NADU - 600002, INDIA |
A61123881 |
|
26 |
10146701 |
25/02/2009 |
610,000.00 |
PUNJAB NATIONAL BANK |
CA ROAD, CHEMBUR, MUMBAI, MAHARASHTRA - 400071, INDIA |
A58493594 |
|
27 |
10144140 |
04/06/2013 * |
500,000,000.00 |
IDBI BANK LIMITED |
IDBI
TOWER, WTC COMPLEX, CUFFE PARADE, MUMBAI, M |
B86481173 |
|
28 |
10111712 |
08/05/2008 |
1,183,900.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, TAMIL NADU - 600002, INDIA |
A40916330 |
|
29 |
10111714 |
08/05/2008 |
1,183,900.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, TAMIL NADU - 600002, INDIA |
A40917122 |
|
30 |
10111717 |
08/05/2008 |
1,183,900.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, TAMIL NADU - 600002, INDIA |
A40917734 |
|
31 |
10095432 |
12/02/2008 |
1,041,480.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, TAMIL NADU - 600002, INDIA |
A35523547 |
|
32 |
10095463 |
12/02/2008 |
1,041,480.00 |
SUNDARAM FINANCE LIMITED |
21 PATULLOS ROAD, CHENNAI, TAMIL NADU - 600002, INDIA |
A35525542 |
|
33 |
10080530 |
30/04/2010 * |
1,500,000,000.00 |
3I INFOTECH TRUSTEESHIP SERVICES LIMITED |
3RD TO 6TH FLOOR, INTERNATIONAL INFOTECH PARK, TOWER NO.5, VASHI RAILWAY STATION COMPLEX, VASHI, NAVI MUMBAI, MAHARASHTRA - 400703, INDIA |
A84509579 |
|
34 |
10007036 |
19/05/2006 |
1,345,500.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, MAHARASHTRA - 400013, INDIA |
A01288505 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 (Rs. In Millions) |
31.03.2012 (Rs. In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
104.531 |
105.197 |
|
Total |
104.531 |
105.197 |
BUSINESS OPERATIONS
The Company is into
the business of Infrastructural Development. It has been involved in wide range
of projects like Water Supply distribution networks, Refinery and process
plants, Oil terminals, Mass housing, Power plants and nuclear facilities, Cross
country pipelines(oil and gas), Turnkey fire protection systems. These services
have been rendered to varied nature of clientele like Government Bodies,
Municipal Corporation, Defense Authorities, Civic bodies, Public Corporations.
Varied nature of contracts have been entered into and executed by the company.
Some of them have already been completed and benefits of the same have already
started accruing. Contracts under progress are periodically reviewed by the
Board. The directors are pleased to announce that this year the Company has
expanded operations to places like African Countries Malawi and Rwanda and UAE,
Middle East. Execution of these projects will be continued in the coming years.
PROSPECTS
The Directors
expect to achieve better performance and generate return during the Current
year by taking up more projects in varied dimensions and discipline.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Guarantees given to customers and others through banks |
2134.226 |
1797.699 |
|
Letter of Credit issued by banks on company’s behalf |
141.720 |
10.427 |
|
Claims against the Company not acknowledged as debt |
10.602 |
10.602 |
|
Disputed Demand under M.P. VAT Act |
5.627 |
8.148 |
|
Disputed Demand under U.P. VAT Act |
5.440 |
0.000 |
FIXED ASSETS:
Tangible Assets
Buildings
Plant
and Equipment
Furniture
and Fixtures
Vehicles
Motor
Vehicles
Office
Equipment
Computer
Equipments
Other
Equipments
Intangible Assets
Computer
software
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 records 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. 61.04 |
|
|
1 |
Rs. 98.64 |
|
Euro |
1 |
Rs.77.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
51 |
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.