MIRA
INFORM REPORT
|
Report Date : |
10.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
TECHNO ELECTRONICS LIMITED |
|
|
|
|
Registered
Office : |
Auto Cars Compound, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.07.2013 |
|
|
|
|
Date of
Incorporation : |
29.05.2007 |
|
|
|
|
Com. Reg. No.: |
11-171196 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1060.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U11204MH2007PLC171196 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in manufacturing and trading of Electrical and Electronic Appliances. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. Company has incurred loss from its operation in the year 2013.
However, rating takes into account unconditional and irrevocable corporate
guarantee extended by Videocon Industries Limited. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. In view of strong support, the company can be considered for business
dealing at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
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 |
CARE |
|
Rating |
Long term bank facilities: Term Loan: A (SO) |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
30.07.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: Working Capital: A1 (SO) |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
30.07.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON – COOPERATIVE (91-2431-251505)
LOCATIONS
|
Registered Office : |
Auto Cars Compound, Adalat Road, Aurangabad-431005, Maharashtra, India
|
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory: |
5th KM Stone, Moradabad Road, Kashipur - 244713, Uttrakhand, India |
DIRECTORS
As on 30.12.2013
|
Name : |
Mr. Nalinibai Pradipkumar Dhoot |
|
Designation : |
Director |
|
Address : |
Dhoot Bunglow, Station Road, Padampura, Aurangabad – 431001,
Maharashtra, India |
|
Date of Birth/Age : |
16.09.1961 |
|
Date of Appointment : |
29.12.2012 |
|
DIN No.: |
00574306 |
|
|
|
|
Name : |
Mr. Vilas Rambhau Salunke |
|
Designation : |
Director |
|
Address : |
At Khadki, Post Khandala, Ahmednagar – 414001, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1973 |
|
Date of Appointment : |
29.12.2012 |
|
DIN No.: |
00306860 |
|
|
|
|
Name : |
Mr. Om Prakash Sharma |
|
Designation : |
Director |
|
Address : |
40, Saubhagay Apartment, Sector – 9, Rohini, Delhi – 110085, India |
|
Date of Birth/Age : |
03.08.1950 |
|
Date of Appointment : |
29.12.2012 |
|
DIN No.: |
01767469 |
KEY EXECUTIVES
|
Name : |
Mr. Pranav Vithal Mehta |
|
Designation : |
Secretary |
|
Address : |
93, Ghorpade Peth, Mehta Motor Driving School, Swargate, Pune –
411042, Maharashtra, India |
|
Date of Birth/Age : |
31.12.1988 |
|
Date of Appointment : |
02.09.2013 |
|
PAN No.: |
AWVPM7500N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.12.2013
|
Names of Shareholders |
|
No. of Shares |
|
Anirudha Venugopa Dhoot |
|
10 |
|
Pradipkumar Nandlal Dhoot |
|
10 |
|
Kail Limited, India |
|
27529382 |
|
Suresh Madhava Hegde |
|
10 |
|
Videocon Industries Limited, India |
|
20117647 |
|
Tusker Overseas Inc, West Indies |
|
52000000 |
|
Tangent Electronic Private Limited, India |
|
3352941 |
|
Synergy Appliances Private Limited, India |
|
3000000 |
|
Total |
|
106000000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.12.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
49.06 |
|
Bodies corporate |
50.94 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing and trading of
Electrical and Electronic Appliances. |
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|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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|
Bankers : |
· Corporation Bank, Industrial Finance Branch, 14, Pune-Mumbai Road, Wakdewadi, Pune - 411003, Maharashtra, India · Allahabad Bank, Industrial Finance Branch, 2nd Floor, 37, Mumbai Samachar Marg, Fort, Mumbai - 400023, Maharashtra, India · State Bank of Hyderabad, 1204, Ashok Mahal, Tulloch Road, Colaba,, Mumbai - 400039, Maharashtra, India · Dena Bank, Dena Corporate Centre,C-10, G- Block, Bandra Kurla Complex, Mumbai - 400023, Maharashtra, India · Bank of Baroda, Corporate Financial Services Branch, Mantri Court, 1st Floor, 39, Ramabai Ambedkar Road, Near Rto, Pune - 411001, Maharashtra, India · Bank of Maharashtra, Industrial Finance Branch, Yashomangal, 1183/A, F C Road, Shivajinagar, Pune - 411005, Maharashtra, India · Andhra Bank, 16th Floor, Earnest House, NCPA Marg, Nariman Point,, Mumbai - 400021, Maharashtra, India ·
United Bank of India, Corporate Finance
Branch, United Bank of India Building, 2nd Floor, 25, Sir P. M. Road, Fort,
Mumbai - 400001, Maharashtra, India |
|||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
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|
|
|
|
Financial Institute: |
Sbicap Trustee Company Limited, 202, Maker Tower, 'E',
Cuffe Parade, Colaba,, Mumbai - 400005, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Kadam and Company Chartered Accountants |
|
Address : |
"Vedant", 8/9 Viraj Estate, Opposite Tarakpur Bus Stand, Ahmednagar - 414003, Gujarat, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAIFK3708R |
|
|
|
|
Associates: |
Kail Limited, India [U99999MH1995PLC131152] |
CAPITAL STRUCTURE
AFTER 30.12.2013
Authorised Capital : Rs. 1330.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.1324.750
Millions
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
110000000 |
Equity Shares |
Rs.10/- each |
Rs. 1100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
106000000 |
Equity Shares |
Rs.10/- each |
Rs. 1060.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.07.2013 |
31.07.2012 |
31.07.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
1060.000 |
1060.000 |
1060.000 |
|
(b) Reserves & Surplus |
681.327 |
1020.178 |
1363.350 |
|
(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) |
1741.327 |
2080.178 |
2423.350 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
5897.292 |
4991.508 |
4714.812 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
152.044 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
4.859 |
5.350 |
2.993 |
|
Total
Non-current Liabilities (3) |
5902.151 |
4996.858 |
4869.849 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
3376.771 |
3288.168 |
3088.943 |
|
(b) Trade payables |
1185.557 |
1233.180 |
1061.180 |
|
(c) Other current liabilities |
305.939 |
896.828 |
566.501 |
|
(d) Short-term provisions |
35.625 |
32.836 |
90.284 |
|
Total
Current Liabilities (4) |
4903.892 |
5451.012 |
4806.908 |
|
|
|
|
|
|
TOTAL |
12547.370 |
12528.048 |
12100.107 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
5183.757 |
4581.274 |
2954.163 |
|
(ii) Intangible Assets |
0.167 |
0.803 |
1.361 |
|
(iii) Capital work-in-progress |
508.859 |
1277.081 |
2598.198 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
24.209 |
5.209 |
5.200 |
|
(c) Deferred tax assets (net) |
155.452 |
12.890 |
0.000 |
|
(d) Long-term Loan and Advances |
57.221 |
48.080 |
99.527 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
12.376 |
|
Total
Non-Current Assets |
5929.665 |
5925.337 |
5670.825 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3236.589 |
3189.369 |
3050.307 |
|
(c) Trade receivables |
2828.958 |
2837.575 |
2816.823 |
|
(d) Cash and cash equivalents |
148.535 |
177.153 |
138.775 |
|
(e) Short-term loans and
advances |
397.495 |
389.903 |
414.986 |
|
(f) Other current assets |
6.128 |
8.711 |
8.391 |
|
Total
Current Assets |
6617.705 |
6602.711 |
6429.282 |
|
|
|
|
|
|
TOTAL |
12547.370 |
12528.048 |
12100.107 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.07.2013 |
31.07.2012 |
31.07.2011 |
|
|
SALES |
|
|
|
|
|
Income |
13564.891 |
13282.690 |
14705.145 |
|
|
Other Income |
16.419 |
31.011 |
9.527 |
|
|
TOTAL
(A) |
13581.310 |
13313.701 |
14714.672 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
7982.193 |
8424.513 |
5641.753 |
|
|
Purchases of Stock-in-Trade |
4278.894 |
3582.285 |
7193.610 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
50.767 |
0.946 |
(28.539) |
|
|
Employees benefits expense |
211.157 |
189.993 |
162.714 |
|
|
Other expenses |
431.544 |
461.011 |
581.188 |
|
|
TOTAL
(B) |
12954.555 |
12658.748 |
13550.726 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
626.755 |
654.953 |
1163.946 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
808.780 |
899.904 |
684.185 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(182.025) |
(244.951) |
479.761 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
299.389 |
261.346 |
180.446 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(481.414) |
(506.297) |
299.315 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
(142.563) |
(163.126) |
50.578 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
(338.851) |
(343.171) |
248.737 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(3.20) |
(3.24) |
2.35 |
KEY RATIOS
|
PARTICULARS |
|
31.07.2013 |
31.07.2012 |
31.07.2011 |
|
PAT / Total Income |
(%) |
(2.49) |
(2.58) |
1.69 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(3.55) |
(3.81) |
2.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.06) |
(4.51) |
3.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.28) |
(0.24) |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
5.33 |
3.98 |
3.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35 |
1.21 |
1.34 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.07.2011 |
31.07.2012 |
31.07.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
1060.000 |
1060.000 |
1060.000 |
|
Reserves & Surplus |
1363.350 |
1020.178 |
681.327 |
|
Net
worth |
2423.350 |
2080.178 |
1741.327 |
|
|
|
|
|
|
long-term borrowings |
4714.812 |
4991.508 |
5897.292 |
|
Short term borrowings |
3088.943 |
3288.168 |
3376.771 |
|
Total
borrowings |
7803.755 |
8279.676 |
9274.063 |
|
Debt/Equity
ratio |
3.220 |
3.980 |
5.326 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.07.2011 |
31.07.2012 |
31.07.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
14705.145 |
13282.690 |
13564.891 |
|
|
|
(9.673) |
2.125 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.07.2011 |
31.07.2012 |
31.07.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
14705.145 |
13282.690 |
13564.891 |
|
Profit |
248.737 |
(343.171) |
(338.851) |
|
|
1.69% |
(2.58%) |
(2.50%) |
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 |
No |
UNSECURED LOAN
|
PARTICULARS |
31.07.2013 (Rs.
in Millions) |
31.07.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from others |
4250.000 |
3600.000 |
|
Total |
4250.000 |
3600.000 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10424996 |
25/04/2013 |
174,720,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
B74894171 |
|
2 |
10394829 |
13/12/2012 |
5,000,000,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE BRANCH, 2ND FLOOR, 37, MUMBAI SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
B65113276 |
|
3 |
10393414 |
17/11/2012 |
3,000,000,000.00 |
BANK OF INDIA |
SUSHILP, 1290, SHIVAJINAGAR, OPP. HOTEL SWAN INN, OFF JANGLI MAHARAJ ROAD, PUNE, MAHARASHTRA - 411005, INDIA |
B64682321 |
|
4 |
10361855 |
14/06/2012 |
25,000,000,000.00 |
CENTRAL BANK OF INDIA |
IFB, CHANDERMUKHI,, GROUND FLOOR, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B42134247 |
|
5 |
10352203 |
30/04/2012 |
6,500,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B38394771 |
|
6 |
10353455 |
24/04/2012 |
7,500,000,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNTS GROUP BRANCH, NEVILLE HOUSE, 3RD FLOOR, J. N. HEREDIA MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B38856514 |
|
7 |
10352772 |
17/04/2012 |
2,793,928.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B38618971 |
|
8 |
10337395 |
18/02/2012 |
30,250,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B32879660 |
|
9 |
10255317 |
22/11/2010 |
1,100,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
A98872799 |
|
10 |
10090774 |
13/08/2012 * |
420,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL SERVICES BRANCH, MANTRI COURT, 1ST FLOOR, 39, RAMABAI AMBEDKAR ROAD, NEAR RTO, PUNE, MAHARASHTRA - 411001, INDIA |
B55979900 |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer 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 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.60.43 |
|
|
1 |
Rs.97.25 |
|
Euro |
1 |
Rs.77.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.