MIRA
INFORM REPORT
|
Report Date : |
13.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
ADANI POWER MAHARASHTRA LIMITED (w.e.f. 16.05.2008) |
|
|
|
|
Formerly Known
As : |
ADANI POWER MAHARASHTRA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Adani House, Near Mithakhali |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
11.04.2007 |
|
|
|
|
Com. Reg. No.: |
04-050506 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 28547.312 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40101GJ2007PLC050506 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMA07282C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCA4102J |
|
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of power generation. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
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 |
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|
Litigation : |
Not Available |
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|
Comments : |
Subject is an established company having a moderate track record. The company has incurred a loss from its operations during 2014. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow but correct. The company can be considered for business dealings 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 |
CRISIL |
|
Rating |
Long Term Borrowing |
|
Rating Explanation |
Have Moderate risk of default |
|
Date |
December 14, 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 DENIED
Management Non co-operative (91-79-26565555)
LOCATIONS
|
Registered Office : |
Adani House, Near Mithakhali |
|
Tel. No.: |
91-79-26565555 |
|
Mobile No.: |
91-9545554954 (Mr. Prashant) |
|
Fax No.: |
91-79-26565500 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
AS ON 07.08.2013
|
Name : |
Mr. Vineet Jain |
|
Designation : |
Chairman |
|
Address : |
A-146, Upper Ground Floor, Priyadarshani Vihar, Near Lovely Public
School, Delhi – 110092, India |
|
Date of Birth/Age : |
30.04.1971 |
|
Date of Appointment : |
06.08.2012 |
|
DIN No.: |
00053906 |
|
|
|
|
Name : |
Mr. Rajendra Kumar Madan |
|
Designation : |
Managing Director |
|
Address : |
D 002 Lagoon Appts. NH 8, Abhience Island, Gurgaon, Haryana – 122001,
India |
|
Date of Birth/Age : |
28.08.1941 |
|
Date of Appointment : |
01.03.2014 |
|
DIN No.: |
00899341 |
|
|
|
|
Name : |
Mr. Devang Sanat Desai |
|
Designation : |
Director |
|
Address : |
201, Parikrama, Opposite Shetrunjay Tower, Off 132 Ring Road,
Saterlite, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
01.07.1956 |
|
Date of Appointment : |
20.08.2010 |
|
DIN No.: |
00005743 |
|
|
|
|
Name : |
Mr. Vijay Ranchan |
|
Designation : |
Director |
|
Address : |
Plot no.131, Sector 8-C, Gandhinagar – 382008, Gujarat, India |
|
Date of Birth/Age : |
01.10.1942 |
|
Date of Appointment : |
30.06.2014 |
|
DIN No.: |
01602023 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh Rameshchandra Shah |
|
Designation : |
Company Secretary |
|
Address : |
16, Hilton Residency, Opp Shaligram 2, Anand Nagar, Seterlite,
Ahmedabad – 380051, India |
|
Date of Birth/Age : |
13.09.1962 |
|
Date of Appointment : |
01.04.2010 |
|
PAN No.: |
ABHPS8793E |
MAJOR SHAREHOLDERS
As on 07.08.2013
|
Names of Shareholders |
No. of Shares |
|
Adani Power Limited, India |
2854731136 |
|
Rajesh S. Adani (Nominee of Adani Power Limited, India) |
50 |
|
Gautam S. Adani (Nominee of Adani Power Limited, India) |
50 |
|
Devang Desai (Nominee of Adani Power Limited, India) |
1 |
|
Vineet Jain (Nominee of Adani Power Limited, India) |
1 |
|
Jayadeb Nanda (Nominee of Adani Power Limited, India) |
1 |
|
Jatin Jalundhwala (Nominee of Adani Power Limited, India) |
1 |
|
Total |
2854731240 |
As on 07.08.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of power generation. |
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Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
· State Bank of India, State Bank Bhavan, Madame Cama Road, Mumbai – 400021, Maharashtra, India |
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Facilities : |
|
|
Financial Institute |
SBICAP Trustee Company Limited, 202, Maker Tower, 'E', Cuffe Parade, Colaba, Mumbai – 400005, Maharashtra, India |
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|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
C.C. Chokshi and Company Chartered Accountants |
|
Address : |
Heritage, Third Floor, Near Gujarat Vidyapith, Off Ashram Road,
Ahmedabad – 380 014, Gujarat, India |
|
Tel No.: |
91-79-27582542/ 27582543 |
|
Fax No.: |
91-79-27582551 |
|
PAN No.: |
AACFC2938D |
|
|
|
|
Ultimate Holding Company: |
· Adani Enterprise Limited · Adani Gas Limited |
|
|
|
|
Fellow Subsidiaries : |
· Adani Gas Limited · Adani Global Pte Limited · Adani Infra (India) LimitedAdani Mining Private Limited · Adani Pench Power Limited · Adani Petronet (Dahej) Port Private Limited · Adani Ports and Special Economic Zone Limited · Adani Power Dahej Limited · Adani Power Rajasthan Limited |
|
|
|
|
Holding Company : |
Adani Power Limited |
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|
|
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Subsidiary Company |
Adani Transmission (Maharashtra) Limited |
CAPITAL STRUCTURE
As on 07.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4250000000 |
Equity Shares |
Rs.10/- each |
Rs. 42500.000 Millions |
|
750000000 |
Preference Shares |
Rs.10/- each |
Rs. 7500.000 Millions |
|
|
Total |
|
Rs. 50000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2854731240 |
Equity Shares |
Rs.10/- each |
Rs. 28547.312 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
28547.300 |
28547.300 |
21819.600 |
|
(b) Reserves &
Surplus |
3915.400 |
9938.100 |
(327.500) |
|
(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) |
32462.700 |
38485.400 |
21492.100 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
138020.300 |
102161.300 |
98663.100 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
183.600 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
3435.900 |
6823.700 |
|
(d) long-term provisions |
1232.400 |
17.900 |
8.700 |
|
Total Non-current
Liabilities (3) |
139252.700 |
105798.700 |
105495.500 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
10890.400 |
0.000 |
1619.000 |
|
(b) Trade payables |
4922.900 |
2225.400 |
23.000 |
|
(c) Other current
liabilities |
17064.600 |
24310.500 |
17617.600 |
|
(d) Short-term provisions |
748.200 |
22.700 |
0.100 |
|
Total Current Liabilities
(4) |
33626.100 |
26558.600 |
19259.700 |
|
|
|
|
|
|
TOTAL |
205341.500 |
170842.700 |
146247.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
143375.000 |
46058.000 |
1102.600 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
34163.700 |
109999.400 |
122730.200 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.500 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4316.700 |
5806.200 |
10636.100 |
|
(e) Other Non-current
assets |
1257.200 |
1174.400 |
2108.600 |
|
Total Non-Current Assets |
183113.100 |
163038.000 |
136577.500 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
152.900 |
0.000 |
90.000 |
|
(b) Inventories |
2125.800 |
2924.200 |
0.000 |
|
(c) Trade receivables |
12108.900 |
839.000 |
0.000 |
|
(d) Cash and cash
equivalents |
2408.300 |
1882.000 |
1802.100 |
|
(e) Short-term loans and
advances |
1621.900 |
963.700 |
7752.700 |
|
(f) Other current assets |
3810.600 |
1195.800 |
25.000 |
|
Total Current Assets |
22228.400 |
7804.700 |
9669.800 |
|
|
|
|
|
|
TOTAL |
205341.500 |
170842.700 |
146247.300 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
29147.800 |
2564.200 |
0.000 |
|
|
Other Income |
213.400 |
228.900 |
417.500 |
|
|
TOTAL (A) |
29361.200 |
2793.100 |
417.500 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
19525.300 |
1893.000 |
0.000 |
|
|
Employees benefits
expense |
537.400 |
25.700 |
0.000 |
|
|
Other expenses |
1261.600 |
270.900 |
11.800 |
|
|
TOTAL (B) |
21324.300 |
2189.600 |
11.800 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
8036.900 |
603.500 |
405.700 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
9510.200 |
2805.200 |
638.200 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION (C-D) (E) |
(1473.300) |
(2201.700) |
(232.500) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5168.200 |
1031.700 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
(6641.500) |
(3233.400) |
(232.500) |
|
|
|
|
|
|
|
Less |
TAX (H) |
(183.600) |
184.000 |
45.400 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
(6457.900) |
(3417.400) |
(277.900) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX FROM DISCONTINUING OPERATIONS |
435.200 |
227.700 |
0.000 |
|
|
|
|
|
|
|
Add |
PROFIT/ (LOSS) FROM TOTAL OPERATIONS |
(6022.700) |
(3189.700) |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
CIF Value of Imports |
5468.600 |
1859.300 |
0.000 |
|
|
Components and Stores
parts |
43.800 |
192.300 |
0.000 |
|
|
Capital Goods |
1695.300 |
6013.600 |
24.841 |
|
|
TOTAL IMPORTS |
7207.700 |
8065.200 |
24.841 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(2.11) |
(1.46) |
(27.79) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
PAT / Total Income |
(%) |
(21.99) |
(122.35) |
(66.56) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(22.79) |
(126.10) |
0.000 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.88) |
(5.31) |
(0.99) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.20) |
(0.08) |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.59 |
2.65 |
4.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.66 |
0.29 |
0.50 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
21819.600 |
28547.300 |
28547.300 |
|
Reserves & Surplus |
(327.500) |
9938.100 |
3915.400 |
|
Net worth |
21492.100 |
38485.400 |
32462.700 |
|
|
|
|
|
|
long-term borrowings |
98663.100 |
102161.300 |
138020.300 |
|
Short term borrowings |
1619.000 |
0.000 |
10890.400 |
|
Total borrowings |
100282.100 |
102161.300 |
148910.700 |
|
Debt/Equity ratio |
4.666 |
2.655 |
4.587 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
417.500 |
2564.200 |
29147.800 |
|
|
|
514.180 |
1,036.721 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
417.500 |
2564.200 |
29147.800 |
|
Profit |
(277.900) |
(3417.400) |
(6457.900) |
|
|
(66.56%) |
(133.27%) |
(22.16%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Current maturities of long-term debt |
11395.100 |
7177.400 |
3916.700 |
|
Total |
11395.100 |
7177.400 |
3916.700 |
|
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 CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10491031 |
12/06/2014 * |
1,000,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, Mumbai, Maharashtra - 400005, INDIA |
C13072962 |
|
2 |
10490175 |
19/03/2014 * |
3,000,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI, Maharashtra - 400005, INDIA |
C04791869 |
|
3 |
10490035 |
30/05/2014 * |
5,700,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI, Maharashtra - 400005, INDIA |
C12325635 |
|
4 |
10469427 |
31/12/2013 |
4,550,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, Maker Tower, Cuffe Parade, Mumbai, Maharashtra - 400005, INDIA |
B93235703 |
|
5 |
10386813 |
19/03/2014 * |
2,934,700,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E', CUFFE PARADE, Cuffe Parade, Mumbai, Maharashtra - 400005, INDIA |
C03903697 |
|
6 |
10325568 |
26/09/2013 * |
62,015,300,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, Maker Tower, Cuffe Parade, Mumbai, Maharashtra - 400005, INDIA |
B85903359 |
|
7 |
10226709 |
28/06/2010 |
10,000,000,000.00 |
STATE BANK OF INDIA |
State Bank Bhavan, Madame Cama Road, Mumbai, Maharashtra - 400021, INDIA |
A88584578 |
|
8 |
10180171 |
26/09/2013 * |
69,370,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, Maker Tower E, Cuffe Parade, Mumbai, Maharashtra - 400005, INDIA |
B85902690 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
23900.300 |
13252.400 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
4318.200 |
0.000 |
|
Total |
28218.500 |
13252.400 |
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer Equipments
· Other Equipments
· Railway sidings
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 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. 60.84 |
|
|
1 |
Rs. 98.72 |
|
Euro |
1 |
Rs. 78.64 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
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 |
|
28 |
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.