MIRA INFORM REPORT
|
Report Date : |
01.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
INDSIL HYDRO POWER AND MANGANESE LIMITED |
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Formerly Known
As : |
INDSIL ELECTROSMELTS LIMITED |
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Registered
Office : |
Indsil House, Door No. 103-107, |
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Country : |
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Financials (as
on) : |
30.06.2014 |
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Date of
Incorporation : |
30.08.1990 |
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Com. Reg. No.: |
18-002849 |
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Capital
Investment / Paid-up Capital : |
Rs.158.868 Millions |
|
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|
CIN No.: [Company
Identification No.] |
L27101TZ1990PLC002849 |
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|
TAN No.: [Tax Deduction
& Collection Account No.] |
CMBI03124C |
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PAN No.: [Permanent Account
No.] |
AAACI4918G |
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Legal Form : |
A Public Limited Liability Company.
The Company’s Shares are Listed on the Stock Exchanges. |
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Line of Business
: |
Manufacture of Ferro Alloys and Steel and Generates Hydro Electric
Power. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
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 : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. There seems a sharp dip in the profit of the company during 2013
however net worth of the company is satisfactory. General financial position
of the company is good. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 |
CRISIL |
|
Rating |
Long Term Rating = BBB+ |
|
Rating Explanation |
Moderate degree of safety. It carry moderate
credit risk. |
|
Date |
01.08.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
01.08.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Murali |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-422-4522922 |
|
Date : |
27.08.2014 |
LOCATIONS
|
Registered Office / Corporate Office : |
Indsil House, Door No. 103-107, Tiruvenkaswamy Road, West, R S Puram, Coimbatore
– 641 002, Tamilnadu, India |
|
Tel. No.: |
91-422-4522922 / 2554922 |
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Fax No.: |
91-422-4522925 / 2554925 |
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E-Mail : |
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Website : |
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Smelter Unit : |
VI-679, Pallatheri Elapully, Palakkad – 678007, Kerala, India |
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Tel. No.: |
91-491-2583501 |
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Rajakkad Hydro Electric Power Plant : |
VIII/351 Rajakkad, Idukki District – 685566, Kerala, India |
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Branch Office : |
Located At ·
Palakkad ·
Raipur ·
Rajakkad |
DIRECTORS
As on 30.06.2013
|
Name : |
Mr. Varadarajan Singanallur Narasimhan |
|
Designation : |
Managing Director |
|
Address : |
239, |
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Date of Birth/Age : |
29.10.1945 |
|
Date of Appointment : |
30.08.1990 |
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|
|
|
Name : |
Mr. Vinod Narsiman Varadarajan |
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Designation : |
Whole-Time Director |
|
Address : |
222/223, |
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Date of Birth/Age : |
27.03.1972 |
|
Date of Appointment : |
18.01.1997 |
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|
|
|
Name : |
Mr. Inderchand Sobhachand |
|
Designation : |
Director |
|
Address : |
859, |
|
Date of Birth/Age : |
30.06.1947 |
|
Date of Appointment : |
30.08.1990 |
|
|
|
|
Name : |
Mr. Balchand Bothra Bhawarlal |
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Designation : |
Director |
|
Address : |
7, Arihant, A T Colony, Behind Hindu Office, |
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Date of Birth/Age : |
23.02.1945 |
|
Date of Appointment : |
30.09.1992 |
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|
|
|
Name : |
Mrs. Pushpa Varadarajan Dharmarajan |
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Designation : |
Director |
|
Address : |
239, |
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Date of Birth/Age : |
03.02.1948 |
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Date of Appointment : |
30.08.1990 |
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|
|
|
Name : |
Mrs. S. Rama Iyer |
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Designation : |
Director |
|
Address : |
Flat No. 32, Rashmi, Swarnakutir Premises Co-Operative Society,
Demonte |
|
Date of Birth/Age : |
19.08.1939 |
|
Date of Appointment : |
30.09.1992 |
|
|
|
|
Name : |
Mr. Mahadevan Kandasamy Subramaniam |
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Designation : |
Director |
|
Address : |
5, Gandhi Nagar, Colony II, Erode – 638 009, |
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Date of Birth/Age : |
30.06.1948 |
|
Date of Appointment : |
27.06.1995 |
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|
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Name : |
Dr. A. K. Sreedharan |
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Designation : |
Director |
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Name : |
Mr. K. Ramakrishnan |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. S.
Mahadevan |
|
Designation : |
Company Secretary |
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|
|
|
Name : |
Mr. R. Murali |
|
Designation : |
Chief Financial
Officer |
SHAREHOLDING PATTERN
As on 30.06.2014
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
3103033 |
19.53 |
|
|
5532585 |
34.83 |
|
|
8635618 |
54.36 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
8635618 |
54.36 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
3666 |
0.02 |
|
|
1054166 |
6.64 |
|
|
1057832 |
6.66 |
|
|
|
|
|
|
312192 |
1.97 |
|
|
|
|
|
|
3441808 |
21.66 |
|
|
1900287 |
11.96 |
|
|
539055 |
3.39 |
|
|
290894 |
1.83 |
|
|
203234 |
1.28 |
|
|
40627 |
0.26 |
|
|
4300 |
0.03 |
|
|
6193342 |
38.98 |
|
Total Public shareholding (B) |
7251174 |
45.64 |
|
Total (A)+(B) |
15886792 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
15886792 |
0.00 |
Individual shareholders holding nominal
share capital up to Rs.0.100 million
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Ferro Alloys and Steel and Generates Hydro Electric
Power. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
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Bankers : |
· State Bank of Travancore · The Federal Bank Limited · IDBI Bank Limited · Yes Bank Limited ·
Standard Chartered Bank |
||||||||||||||||||||||||
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Facilities : |
Notes: Long Term
Borrowings ECB Loan of USD
1125000 procured from Standard Chartered Bank is repayable in 12 equal
quarterly instalments of USD 93,750 each. Interest is payable at 3M LIBOR plus
300 BPS on a quarterly basis. The loan is secured by way of first pari passu charge on
the fixed assets of the Company and second pari passu charge on the current
assets of the Company. Short Term
Borrowings Working capital facilities from State Bank of Travancore, The Federal
Bank Limited, IDBI Bank Limited, Standard Chartered Bank and Yes Bank Ltd
have pari passu first charge on the entire current assets of the Company and
pari passu second charge on the entire fixed assets of the Company. Working capital
facilties from State Bank of Travancore, The Federal Bank Limited Standard
Chartered Bank and Yes Bank Ltd are further guaranteed by the personal
guarantee of Sri Vinod Narsiman, Managing Director, to the extent of limit
sanctioned. Working Capital facitilities from Banks are repayable on demand and
carries interest rates varying from 11% to 14.95% p.a. Packing credit in
Foreign Currency is repayable on demand and carries interest LIBOR plus 250
bps to LIBOR plus 300 bps.For Buyers credit in foreign currency is repayable
on demand and carries interest LIBOR plus 90BPS to LIBOR plus 150 BPS. |
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Banking
Relations : |
-- |
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|
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|
Auditors : |
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|
Name : |
Raja and Raman Chartered
Accountants |
|
Address : |
1055/11, Gowtham Centre, 1st Floor, Avanashi
Road, Coimbatore – 641018, Tamilnadu, India |
|
|
|
|
As on 31.03.2013 : |
|
|
|
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Subsidiaries : |
·
Sree Mahalakshmi Smelters Private Limited Address: Merakamudidam Mandalam, Garbham,
Vizianagaram – 535102, Andhra Pradesh, India ·
Indsil Hydro Global (FZE) ·
Sharjah Airport International Free Zone |
|
|
|
|
Associates : |
·
Sunmet Holdings India Private Limited ·
Indsil Energy and Electrochemicals Limited |
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|
|
|
Joint Venture
Company : |
·
Al-Tamman Indsil Ferro Chrome Llc Address : Cr.No.1090488, P.O.Box 592, Al
Hamriya Postal Code 131, Sultanate of Oman |
CAPITAL STRUCTURE
As on 30.06.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.158.868
Millions
As on 30.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
|
500000 |
Redeemable Cumulative Preference Shares |
Rs.100/- each |
Rs.50.000 Millions |
|
|
Total |
|
Rs.250.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15886792 |
Equity Shares |
Rs.10/- each |
Rs.158.868 Millions |
a. Terms/rights attached to equity shares:
The Company has only one class of issued shares referred to as equity shares having a par value of Rs.10 each. Each holder of equity shares is entitled to one vote per share. The dividend proposed by the Board of Directors, if any, is subject to the approval of shareholders in the Annual General Meeting.
b. The reconciliation of the number of shares
outstanding is set out below:
|
Equity Shares |
Number
of Shares |
Rs. In Millions |
|
Shares outstanding at the beginning of the year |
15886792 |
158.868 |
|
Shares issued during the year |
-- |
-- |
|
Shares
outstanding at the end of the year |
15886792 |
158.868 |
c.
Details of equity shares held by shareholders
holding more than 5% shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Sunmet Holdings India Private Limited |
5518252 |
34.74% |
|
Sri. S N Varadarajan |
1090208 |
6.86% |
|
Kerela State Industrial Development Corporation |
1054166 |
6.64% |
d. Aggregate number of bonus shares issued in
the preceding 5 years
|
Name of Shareholder
|
Number
of Shares |
Rs. In Millions |
|
Equity shares allotted as fully paid bonus shares pursuant to capitalisation of reserves in 2010-11. |
6354717 |
63.517 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.06.2014 |
30.06.2013 |
30.06.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
158.868 |
158.868 |
158.868 |
|
(b) Reserves & Surplus |
686.337 |
600.565 |
606.910 |
|
(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) |
845.205 |
759.433 |
765.778 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
50.490 |
34.312 |
51.468 |
|
(b) Deferred tax liabilities (Net) |
28.176 |
26.126 |
24.595 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
122.508 |
121.113 |
120.575 |
|
Total Non-current Liabilities (3) |
201.174 |
181.551 |
196.638 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
144.907 |
348.207 |
119.098 |
|
(b) Trade payables |
217.613 |
87.771 |
92.209 |
|
(c) Other current
liabilities |
66.455 |
37.343 |
42.240 |
|
(d) Short-term provisions |
22.877 |
10.117 |
19.156 |
|
Total Current Liabilities (4) |
451.852 |
483.438 |
272.703 |
|
|
|
|
|
|
TOTAL |
1,498.231 |
1,424.422 |
1,235.119 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
359.391 |
393.122 |
410.446 |
|
(ii) Intangible Assets |
0.000 |
2.293 |
0.000 |
|
(iii) Capital
work-in-progress |
52.771 |
52.771 |
52.875 |
|
(iv)
Intangible assets under development |
1.811 |
0.000 |
1.474 |
|
(b) Non-current Investments |
218.681 |
216.108 |
40.271 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
157.182 |
148.991 |
129.918 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
789.836 |
813.285 |
634.984 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.498 |
0.467 |
6.002 |
|
(b) Inventories |
301.865 |
288.684 |
270.746 |
|
(c) Trade receivables |
100.319 |
77.123 |
45.199 |
|
(d) Cash and cash
equivalents |
67.268 |
32.317 |
94.679 |
|
(e) Short-term loans and
advances |
213.977 |
192.590 |
120.146 |
|
(f) Other current assets |
24.468 |
19.956 |
63.363 |
|
Total Current Assets |
708.395 |
611.137 |
600.135 |
|
|
|
|
|
|
TOTAL |
1,498.231 |
1,424.422 |
1,235.119 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.06.2014 |
30.06.2013 |
30.06.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1,228.494 |
976.147 |
568.569 |
|
|
|
Other Income |
11.942 |
38.929 |
53.133 |
|
|
|
TOTAL (A) |
1,240.436 |
1,015.076 |
621.702 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
435.663 |
299.482 |
|
|
|
Purchases of Stock-in-Trade |
|
115.356 |
27.737 |
|
|
|
Changes in inventories of finished goods, work in progress |
|
(2.111) |
(19.636) |
|
|
|
Other Manufacturing Expenses |
|
276.429 |
48.356 |
|
|
|
Employee benefits expense |
|
57.594 |
57.030 |
|
|
|
Other expenses |
|
60.282 |
52.973 |
|
|
|
TOTAL (B) |
1,062.931 |
943.213 |
465.942 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
177.505 |
71.863 |
155.760 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
37.104 |
29.552 |
24.844 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
140.401 |
42.311 |
130.916 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.049 |
37.955 |
36.708 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
138.352 |
4.356 |
94.208 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
29.764 |
1.531 |
(6.138) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
108.588 |
2.825 |
100.346 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
464.172 |
470.641 |
388.759 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
NA |
7.944 |
15.887 |
|
|
|
Tax on Dividend |
NA |
1.350 |
2.577 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
464.172 |
470.641 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
577.737 |
364.783 |
|
|
TOTAL EARNINGS |
NA |
577.737 |
364.783 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
247.716 |
174.658 |
|
|
TOTAL IMPORTS |
NA |
247.716 |
174.658 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.84 |
0.18 |
7.18 |
|
KEY RATIOS
|
PARTICULARS |
|
30.06.2014 |
30.06.2013 |
30.06.2012 |
|
PAT / Total Income |
(%) |
8.75 |
0.28 |
16.14 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.26 |
0.45 |
16.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.29 |
0.38 |
8.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.01 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.23 |
0.50 |
0.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.57 |
1.26 |
2.20 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
30.06.2012 |
30.06.2013 |
30.06.2014 |
|
|
Rs.
In Millions |
Rs. In
Millions |
Rs.
In Millions |
|
Share Capital |
158.868 |
158.868 |
158.868 |
|
Reserves & Surplus |
606.910 |
600.565 |
686.337 |
|
Net
worth |
765.778 |
759.433 |
845.205 |
|
|
|
|
|
|
long-term borrowings |
51.468 |
34.312 |
50.490 |
|
Short term borrowings |
119.098 |
348.207 |
144.907 |
|
Total
borrowings |
170.566 |
382.519 |
195.397 |
|
Debt/Equity
ratio |
0.223 |
0.504 |
0.231 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
30.06.2012 |
30.06.2013 |
30.06.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
568.569 |
976.147 |
1,228.494 |
|
|
|
71.685 |
25.851 |
NET PROFIT MARGIN
|
Net
Profit Margin |
30.06.2012 |
30.06.2013 |
30.06.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs. In
Millions |
|
Sales
|
568.569 |
976.147 |
1,228.494 |
|
Profit |
100.346 |
2.825 |
108.588 |
|
|
17.65% |
0.29% |
8.84% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10482994 |
21/01/2014 |
100,000,000.00 |
YES BANK LIMITED |
Nehru Centre, 9th
Floor, Discovery Of India, Dr. |
B98643547 |
|
2 |
10288190 |
08/06/2012 * |
82,500,000.00 |
STANDARD CHARTERED BANK |
Red Rose Plaza, 509, D B Road, R S Puram, Coimbatore, Tamil Nadu - 641002, India |
B41202110 |
|
3 |
10255389 |
17/07/2012 * |
75,000,000.00 |
YES BANK LIMITED |
9th Floor, Nehru
Centre, Discovery Of India,, Dr. |
B45356680 |
|
4 |
10121776 |
05/04/2010 * |
150,000,000.00 |
STANDARD CHARTERED BANK |
Grindlays Centre, 509, D B Road, R S Puram, Coimbatore, Tamil Nadu - 641002, India |
A82917782 |
|
5 |
10001060 |
14/03/2014 * |
300,000,000.00 |
IDBI Bank Limited |
Specialised
Corporate Branch The Excellence, 4th Floor 104 Race Course Road, Coimbatore,
Tamil Nadu |
C06134639 |
|
6 |
90008208 |
23/12/2010 * |
100,000,000.00 |
FEDERAL BANK LIMITED |
21 V H Road, Coimbatore, Tamil Nadu - 641001, India |
B05410105 |
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Machinery
·
Electrical Installation
·
Pollution Control Equipments
·
Laboratory Equipments
·
Air Conditioner
·
Air Cooler
·
Electrical Fittings
·
Office Equipments
·
Generator
·
Weighing Scale
·
Computer
·
Vehicles
·
Furniture and Fixtures
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.60.47 |
|
UK Pound |
1 |
Rs.100.35 |
|
Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
47 |
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.