MIRA
INFORM REPORT
|
Report Date : |
01.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
FOURCEE INFRASTRUCTURE EQUIPMENTS PRIVATE LIMITED (w.e.f. 17.10.2007) |
|
|
|
|
Formerly Known
As : |
PRELUDE EXPORTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
431, Laxmi Mall, Laxmi Industrial Estate, New Link Road, Andheri
(West), Mumbai – 400 053, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
26.04.2002 |
|
|
|
|
Com. Reg. No.: |
11-135662 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4935.074 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909MH2002PTC135662 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMP15214C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCP5048E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
To carry on the business as agents, brokers, commission agents, buying
and selling agents, distributors, indenting agents in goods and
commodities. |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Management has failed to file its latest financials for the year 2013
with the government department. As per of 2012, reserves of the company appears to be low. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some caution. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term rating=BB- (Suspended) |
|
Rating Explanation |
Have moderate risk of default. |
|
Date |
November, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term rating=A4 (Suspended) |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
November, 2013 |
Reason for Suspension:
ICRA has suspended the ratings due to ICRA’s
inability to carry out a rating surveillance in the absence of the requisite
information from the company.
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 PARTED BY
|
Name : |
Mr. Bal Ganesh |
|
Designation : |
Finance Executive |
|
Contact No.: |
91-22-42329600 |
|
Date : |
30.08.2014 |
LOCATIONS
|
Registered Office : |
431, Laxmi Mall, Laxmi Industrial Estate, New Link Road, Andheri
(West), Mumbai – 400 053, Maharashtra, India |
|
Tel. No.: |
91-22-42329600 |
|
Fax No.: |
91-22-42329611 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
Sharyans Audeus, Unit 501/502, CTS No. 688 Oshiwara, Veera Desai Road,
Near Fun Republic Andheri (W), Mumbai – 400 053, India |
|
Tel. No.: |
91-22-42329600/ 42329617 |
|
Fax No.: |
91-22-42329611 |
DIRECTORS
AS ON 22.08.2012
|
Name : |
Mr. Vinay Singh |
|
Designation : |
Director |
|
Address : |
A-303 Greenfields, Lokhandwala, Andheri (West), Mumbai – 400053,
Maharashtra, India |
|
Date of Birth/Age : |
13.04.1988 |
|
Date of Appointment : |
30.07.2007 |
|
PAN No.: |
BGAPS0899A |
|
DIN No.: |
00542695 |
|
|
|
|
Name : |
Mr. Rajesh Lihala |
|
Designation : |
Director |
|
Address : |
155, C Uashmesh Colony, N Dutta Marg, DN Nagar, Andheri (West), Mumbai
– 400053, Maharashtra, India |
|
Date of Birth/Age : |
09.06.1959 |
|
Date of Appointment : |
26.06.2009 |
|
PAN No.: |
ACYPL6324J |
|
DIN No.: |
02788479 |
|
|
|
|
Name : |
Mrs. Artidevi Rajsingh Singh |
|
Designation : |
Director |
|
Address : |
A-303 Greenfields, Lokhandwala, Andheri (West), Mumbai – 400053,
Maharashtra, India |
|
Date of Birth/Age : |
15.02.1970 |
|
Date of Appointment : |
10.08.2007 |
|
DIN No.: |
01717098 |
|
|
|
|
Name : |
Mr. Baljitsingh P Sandhu |
|
Designation : |
Director |
|
Address : |
F-1, Anandbag Society, Ghatlodia Tal City, District Ahmedabad – 380061,
Gujarat, India |
|
Date of Birth/Age : |
10.09.1958 |
|
Date of Appointment : |
31.03.2009 |
|
DIN No.: |
02792891 |
|
|
|
|
Name : |
Mr. Kumar Krishnan Iyer |
|
Designation : |
Nominee Director |
|
Address : |
Flat 2002, Odyssey II, Hiranandani Gardens, Powai, Mumbai – 400076,
Maharashtra, India |
|
Date of Birth/Age : |
28.05.1962 |
|
Date of Appointment : |
22.08.2012 |
|
PAN No.: |
AAAPI2320M |
|
DIN No.: |
01865617 |
|
|
|
|
Name : |
Mr. Ranjit Vasant Pandit |
|
Designation : |
Nominee Director |
|
Address : |
Daibhanga Mansion, Flat No. 1,12, Carmichael Road, Mumbai - 400026,
Maharashtra, India |
|
Date of Birth/Age : |
05.04.1954 |
|
Date of Appointment : |
11.01.2012 |
|
DIN No.: |
00782296 |
|
|
|
|
Name : |
Mr. Tariq Nadeem Ahmed |
|
Designation : |
Nominee Director |
|
Address : |
Vittal Mallya Road, Bangalore – 560001, Karnataka, India |
|
Date of Birth/Age : |
22.11.1978 |
|
Date of Appointment : |
11.01.2012 |
|
DIN No.: |
03490137 |
KEY EXECUTIVES
|
Name : |
Mr. Bal Ganesh |
|
Designation : |
Finance Executive |
MAJOR SHAREHOLDERS
AS ON 22.08.2012
|
Names of Equity Shareholders |
|
No. of Shares |
|
Vinay Singh |
|
750020 |
|
Rajesh Lihala |
|
20000 |
|
Arti Singh |
|
607500 |
|
Jyoti Singh |
|
122500 |
|
Devnadi Tradelink Private Limited, India |
|
800000 |
|
Hari Metal Mills Private Limited, India |
|
1207486 |
|
General Atlantic Singapore Fund Pte. Limited, India |
|
20 |
|
|
|
|
|
Total |
|
3507526 |
|
Names of
Preference Shareholders |
|
No.
of Shares |
|
General Atlantic Singapore Fund Pte. Limited, India (Series A CCPS) |
|
2499990 |
|
General Atlantic Singapore Fund Pte. Limited, India (Series B CCPS) |
|
1000000 |
|
General Atlantic Singapore Fund Pte. Limited, India (Series C CCPS) |
|
27457994 |
|
General Atlantic Singapore Fund Pte. Limited, India (Series D CCPS) |
|
7542006 |
|
Mulith Equity Holdings Limited (Series B CCPS) |
|
10500000 |
|
|
|
|
|
Total |
|
48999990 |
Equity Share Break up (Percentage of Total Equity)
AS ON 22.08.2012
|
Category |
Percentage |
|
Bodies corporate |
57.24 |
|
Directors or relatives of Directors |
42.76 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
To carry on the business as agents, brokers, commission agents, buying
and selling agents, distributors, indenting agents in goods and commodities. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit, 30 Days and 60 Days |
|
|
|
|
Purchasing : |
Cash, Credit, 30 Days and 60 Days |
GENERAL INFORMATION
|
No. of Employees : |
300 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
Citi Bank N. A., First International Financial Centre, 9th
Floor, Plot No.C-54, C-55, G-Block, BKC, Bandra, Mumbai – 400051,
Maharashtra, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
NOTE: Short term
borrowings: Cash credit facility from IDBI bank is secured by first charge on all
current assets of the company by way of hypothecation and second charge on
fixed assets of the company. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Company Chartered Accountants |
|
Address : |
KPMG House, Kamala Mills Compound, 448, Senapati Bapat Marg, Lower Parel, Mumbai – 400 013, Maharashtra, India |
|
PAN No.: |
AAIFB7357B |
|
|
|
|
Subsidiary
Companies : |
Fourcee Asia Pte. Limited |
CAPITAL STRUCTURE
AS ON 22.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4010000 |
Equity Shares |
Rs.10/- each |
Rs.40.100 Millions |
|
49599000 |
Preference Shares |
Rs.100/- each |
Rs.4959.900 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.5000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3507526 |
Equity Shares |
Rs. 10/- each |
Rs.35.075 Millions |
|
48999990 |
Preference Shares |
Rs.100/- each |
Rs.4899.999 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.4935.074
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
4935.074 |
1440.078 |
|
(b) Reserves & Surplus |
|
344.280 |
187.956 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
5279.354 |
1628.034 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
252.132 |
452.999 |
|
(b) Deferred tax liabilities (Net) |
|
110.248 |
58.255 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
4.712 |
0.310 |
|
Total Non-current Liabilities (3) |
|
367.092 |
511.564 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
200.502 |
188.433 |
|
(b) Trade payables |
|
172.744 |
33.795 |
|
(c) Other current liabilities |
|
344.839 |
323.759 |
|
(d) Short-term provisions |
|
0.373 |
8.810 |
|
Total Current Liabilities (4) |
|
718.458 |
554.797 |
|
|
|
|
|
|
TOTAL |
|
6364.904 |
2694.395 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
2688.952 |
1308.103 |
|
(ii) Intangible Assets |
|
51.756 |
1.432 |
|
(iii) Capital
work-in-progress |
|
286.910 |
124.557 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
22.092 |
22.043 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
1041.575 |
762.419 |
|
(e) Other Non-current assets |
|
13.373 |
0.060 |
|
Total Non-Current Assets |
|
4104.658 |
2218.614 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
459.985 |
252.791 |
|
(d) Cash and cash
equivalents |
|
1530.952 |
15.919 |
|
(e) Short-term loans and
advances |
|
192.861 |
199.265 |
|
(f) Other current assets |
|
76.448 |
7.806 |
|
Total Current Assets |
|
2260.246 |
475.781 |
|
|
|
|
|
|
TOTAL |
|
6364.904 |
2694.395 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
540.078 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
213.263 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
753.341 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
537.642 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
537.642 |
|
|
DEFERRED TAX LIABILITIES |
|
|
23.188 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1314.171 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
701.583 |
|
|
Capital work-in-progress |
|
|
351.931 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.002 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
100.228 |
|
|
Cash & Bank Balances |
|
|
98.718 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
86.261 |
|
Total
Current Assets |
|
|
285.207 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000 |
|
|
Other Current Liabilities |
|
|
23.461 |
|
|
Provisions |
|
|
1.091 |
|
Total
Current Liabilities |
|
|
24.552 |
|
|
Net Current Assets |
|
|
260.655 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1314.171 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
|
TOTAL (A) |
3334.700 |
1997.900 |
842.408 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Operating Expenses |
|
|
675.907 |
|
|
|
|
Administrative and Other Expenses |
|
|
23.905 |
|
|
|
|
Personnel Expenses |
|
|
14.349 |
|
|
|
|
TOTAL (B) |
2653.800 |
1601.300 |
714.161 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
680.900 |
396.600 |
128.247 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
187.600 |
104.600 |
39.477 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
493.300 |
292.000 |
88.770 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
173.400 |
83.200 |
22.255 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
319.900 |
208.800 |
66.515 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
127.500 |
74.100 |
19.766 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
192.400 |
134.700 |
46.749 |
||
|
|
|
|
|
|
||
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
192.400 |
61.800 |
15.840 |
||
|
|
|
|
|
|
||
|
|
APPROPRIATIONS |
|
|
|
||
|
|
|
Interim Dividend |
10.500 |
0.000 |
0.000 |
|
|
|
|
Proposed Dividend |
0.200 |
7.300 |
0.626 |
|
|
|
|
Tax on Interim Dividend |
1.700 |
0.000 |
0.000 |
|
|
|
|
Tax on Proposed Dividend |
0.040 |
1.200 |
0.103 |
|
|
|
BALANCE CARRIED
TO THE B/S |
344.200 |
187.900 |
61.860 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
3.66 |
7.48 |
13.05 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
5.77
|
3.71 |
7.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.40
|
11.70 |
6.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.13 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.09
|
0.39 |
0.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.15
|
0.86 |
11.61 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2011 |
31.03.2012 |
|
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
|
1440.078 |
4935.074 |
|
Reserves & Surplus |
|
187.956 |
344.280 |
|
Net
worth |
|
1628.034 |
5279.354 |
|
|
|
|
|
|
long-term borrowings |
|
452.999 |
252.132 |
|
Short term borrowings |
|
188.433 |
200.502 |
|
Total
borrowings |
|
641.432 |
452.634 |
|
Debt/Equity
ratio |
|
0.394 |
0.086 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
842.408 |
1,997.900 |
3,334.700 |
|
|
|
137.165 |
66.910 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
842.408 |
1,997.900 |
3,334.700 |
|
Profit |
46.749 |
134.700 |
192.400 |
|
|
5.55% |
6.74% |
5.77% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Millions
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Current maturities of long term debt |
56.425 |
137.107 |
NA |
|
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 |
No |
|
19] |
Payments terms |
Yes |
|
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 |
NOTE: The Registered
Office of the company has been shifted from 236, Laxmi Plaza, Laxmi Industrial Estate,
New Link Road, Andheri (West), Mumbai – 400 053, Maharashtra, India to the
present address w.e.f. 14.12.2009
LITIGATION
DETAILS:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UNSECURED LOANS:
|
Particulars |
31.03.2012 Rs. In Millions |
31.03.2011 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Fully convertible
Debentures others |
28.474 |
0.000 |
|
Short Term Borrowings |
|
|
|
Loans repayable
on Demand from Banks |
7.608 |
26.898 |
|
|
|
|
|
Total |
36.082 |
26.898 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10453009 |
11/10/2013 |
200,000,000.00 |
CITIBANK N. A. |
FIRST INTERNATIONAL
FINANCIAL CENTRE, 9TH FLOOR, PLOT NO.C-54, C-55, G-BLOCK, BKC, BANDRA, MUMBAI
– 400 51, |
B86634524 |
|
2 |
10445100 |
02/08/2013 |
350,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI – 400 013, MAHARASHTRA, INDIA |
B83080465 |
|
3 |
10437971 |
26/06/2013 |
200,000,000.00 |
DBS BANK LIMITED |
3RD FLOOR, FORT HOUSE, DR. D N ROAD, FORT, MUMBAI – 400 001, MAHARASHTRA, INDIA |
B80095300 |
|
4 |
10425222 |
09/05/2013 |
660,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA – 390 015, GUJARAT, INDIA |
B74971995 |
|
5 |
10421615 |
20/04/2013 |
300,000,000.00 |
STANDARD CHARTERED BANK |
23, NARAIN MANZIL, BARAKHAMBA ROAD, NEW DELH – 110 001, INDIA |
B73717225 |
|
6 |
10417738 |
09/04/2013 |
400,000,000.00 |
FIRSTRAND BANK LIMITED |
TCG FINANCIAL CENTRE PLOT NO C 53 G BLOCK, BANDRA KURLA COMPLEX, MUMBAI – 400 051, MAHARASHTRA, INDIA |
B72607088 |
|
7 |
10411594 |
20/02/2013 |
100,000,000.00 |
FIRSTRAND BANK LIMITED |
TCG FINANCIAL CENTRE PLOT NO C 53 G BLOCK, BANDRA KURLA COMPLEX, MUMBAI – 400 051, MAHARASHTRA, INDIA |
B70706825 |
|
8 |
10406042 |
11/02/2013 |
200,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. |
B68418169 |
|
9 |
10389990 |
30/11/2012 |
560,000,000.00 |
DBS BANK LIMITED |
UPPER GROUND FLOOR, BIRLA TOWER, 25 BARAKHAMBA ROAD, NEW DELHI – 110 001, INDIA |
B63317754 |
|
10 |
10389460 |
07/01/2013 * |
600,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. |
B65368623 |
* Date of charge modification
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.60.47 |
|
|
1 |
Rs.100.35 |
|
Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
27 |
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.