MIRA
INFORM REPORT
|
Report Date : |
15.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
KAKINADA SEAPORTS LIMITED |
|
|
|
|
Formerly Known
As : |
COCANADA PORT COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
8-2-418,
Meenakshi House, 3rd Floor, Road No.7, Banjara Hills, |
|
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|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
16.12.1998 |
|
|
|
|
Com. Reg. No.: |
030697 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 524.122
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24239TG1998PLC030697 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCC2006Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of development and maintenance of
seaport terminals for bulk, chemicals, gas, petroleum products. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 15000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
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|
|
|
Comments : |
Subject is an established company having good track record. Financial position of the company is sound. Fundamentals of the
company are healthy. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitment. 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 |
|
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 that 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 = A- |
|
Rating Explanation |
Adequate degree of safety it carry low
credit risk. |
|
Date |
June 19, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
June 19, 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
[CONTACT NO.: 91-40-23357733]
LOCATIONS
|
Registered / Corporate Office : |
8-2-418,
Meenakshi House, 3rd Floor, Road No.7, Banjara Hills, Hyderabad -
500034, Telangana, India |
|
Tel. No.: |
91-40-23357733/ 23357744/ 23357711 |
|
Fax No.: |
91-40-23357755 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Operations / Port Office : |
2nd Floor, Port Administrative Building, Beach Road,
Kakinada – 533 007, Andhra Pradesh, India |
|
Tel. No.: |
91-884-2365089/ 2365889 (Office) 91-884-2368246/ 2349619 (Jetty) |
|
Fax No.: |
91 884 - 2385402/ 03/ 04 |
|
E-Mail : |
DIRECTORS
AS ON 28.09.2013
|
Name : |
Mr. Karnati Venkateswara Rao |
|
Designation : |
Managing Director |
|
Address : |
Flat No.3A, Sri Durga Palm Springs Apartments, Road No.7, Banjara
Hills, Hyderabad, Andhra Pradesh, India |
|
Date of Birth/Age : |
10.07.1961 |
|
Qualification : |
Graduate in
Commerce |
|
Experience : |
29 Years |
|
Date of Appointment : |
01.08.2008 |
|
PAN No.: |
AGLPK5772C |
|
DIN No.: |
00012584 |
|
|
|
|
Name : |
Mr. Mirzan Bin Mahathir |
|
Designation : |
Director |
|
Address : |
26, LRG, Kota 2, Bukit Ledang, 50480 Kulalumpur |
|
Date of Birth/Age : |
26.11.1958 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
15.07.1999 |
|
DIN No.: |
00063574 |
|
|
|
|
Name : |
Mrs. Navatha Karnati |
|
Designation : |
Director |
|
Address : |
Flat No.3A, Sri Durga Palm Springs Apartments, Road No.7, Banjara Hills,
Hyderabad, Andhra Pradesh, India |
|
Date of Birth/Age : |
16.07.1967 |
|
Qualification : |
MA |
|
Date of Appointment : |
29.09.2011 |
|
DIN No.: |
00782691 |
|
|
|
|
Name : |
Mr. Vijaya Sekhar Vellanki |
|
Designation : |
Director |
|
Address : |
42015, Pepperbush Place, Aldie, VA |
|
Date of Birth/Age : |
26.06.1966 |
|
Qualification : |
Bachelors degree
in Mechanical Engineering |
|
Date of Appointment : |
29.09.2011 |
|
DIN No.: |
02900669 |
|
|
|
|
Name : |
Venkata Satyanarayana Murthy Pydi |
|
Designation : |
Additional Director |
|
Address : |
Flat No.101, Sai Manasa Residency, Shiv Bagh Colony, Balkampet,
Hyderabad – 500 016, Andhra Pradesh, India |
|
Date of Birth/Age : |
02.09.1945 |
|
Date of Appointment : |
15.02.2013 |
|
DIN No.: |
06500081 |
KEY EXECUTIVES
|
Name : |
Ms. Vibha Jain |
|
Designation : |
Secretary |
|
Address : |
Flat No.302, Markaz Sadan, Road No.10, Banjara Hills, Hyderabad,
Andhra Pradesh, India |
|
Date of Appointment : |
22.02.2006 |
|
PAN No.: |
AGUPJ8387K |
|
|
|
|
Name : |
Mr. Ramkrishna |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Konsortium Ports Pte. Limited, Mauritius |
|
9093205 |
|
Southindia Infrastructure Development Company Private Limited, India |
|
5833100 |
|
Kakinada Infrastructure Holdings Private Limited, India |
|
21550905 |
|
K.V. Rao |
|
20 |
|
Karnati Navatha |
|
20 |
|
Polavarapu Jayadev |
|
10 |
|
Kari Ramesh Babu |
|
10 |
|
Madala Rajendra |
|
10 |
|
VR Investments Pte. Limited, Singapore |
|
15934959 |
|
|
|
|
|
Total |
|
52412239 |
AS ON 28.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
47.75 |
|
Others |
52.25 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of development and maintenance of
seaport terminals for bulk, chemicals, gas, petroleum products. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||
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|
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|
Bankers : |
· Bank of India Chennai Large Corporate Branch, Iv Floor, Tarapore Towers, 826 Annasalai, Chennai - 600002, Tamilnadu, India · Union Bank of India Industrial Finance Branch, "Riaz Garden", 12 Kodambakkam
High Road, Nungambakkam, Chennai - 600034, Tamilnadu, India |
|||||||||||||||||||||
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Facilities : |
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Brahmayya and Company Chartered Accountants |
|
Address : |
No.48, Masilamani Road, Balaji Nagar, Royapettah, Chennai
- 600014, Tamilnadu, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFB2481J |
|
|
|
|
Other Related
Parties : |
· Southindia Infrastructure Development Company Private LIMITED [U45204TN1999PTC042562] United Portservices Limited [U51909AP1991PLC012474] Sembmarine Kakinada Limited [U74900AP2009PLC065785] Samudra Maritime Company Private Limited
[U29110TN2008PTC067881] Belair Logistics Limited [U72200AP1994PLC018633] |
|
|
|
|
Subsidiary
Company : |
Kakinada Power Private Limited [U40200AP2003PTC041740] |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
52,412,239 |
Equity Shares |
Rs. 10/- each |
Rs. 524.122 Millions
|
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
524.122 |
524.122 |
524.122 |
|
(b) Reserves & Surplus |
3282.765 |
2707.675 |
2221.007 |
|
(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) |
3806.887 |
3231.797 |
2745.129 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
4144.319 |
5191.771 |
5018.942 |
|
(b) Deferred tax liabilities (Net) |
405.245 |
309.721 |
198.821 |
|
(c) Other long
term liabilities |
125.724 |
123.428 |
160.285 |
|
(d) long-term
provisions |
3.506 |
2.847 |
2.010 |
|
Total Non-current
Liabilities (3) |
4678.794 |
5627.767 |
5380.058 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
163.974 |
0.000 |
|
(b)
Trade payables |
246.881 |
171.646 |
184.130 |
|
(c)
Other current liabilities |
2227.630 |
1521.859 |
702.283 |
|
(d) Short-term
provisions |
3.685 |
2.954 |
2.705 |
|
Total Current Liabilities
(4) |
2478.196 |
1860.433 |
889.118 |
|
|
|
|
|
|
TOTAL |
10963.877 |
10719.997 |
9014.305 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
7023.640 |
7386.751 |
5850.316 |
|
(ii)
Intangible Assets |
1.781 |
0.575 |
1.621 |
|
(iii)
Capital work-in-progress |
1340.076 |
1202.434 |
1449.813 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
687.000 |
737.000 |
737.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
345.196 |
314.543 |
137.705 |
|
(e) Other
Non-current assets |
542.516 |
409.389 |
291.356 |
|
Total Non-Current
Assets |
9940.209 |
10050.692 |
8467.811 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
9.356 |
7.500 |
4.726 |
|
(c)
Trade receivables |
304.589 |
230.920 |
293.255 |
|
(d) Cash
and cash equivalents |
678.756 |
364.008 |
211.735 |
|
(e)
Short-term loans and advances |
30.967 |
66.877 |
36.778 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1023.668 |
669.305 |
546.494 |
|
|
|
|
|
|
TOTAL |
10963.877 |
10719.997 |
9014.305 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
2199.483 |
1848.612 |
1623.407 |
|
|
|
Other Income |
12.488 |
29.070 |
54.615 |
|
|
|
TOTAL (A) |
2211.971 |
1877.682 |
1678.022 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
37.980 |
30.465 |
26.031 |
|
|
|
Other expenses |
535.293 |
479.100 |
442.574 |
|
|
|
TOTAL (B) |
573.273 |
509.565 |
468.605 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1638.698 |
1368.117 |
1209.417 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
495.240 |
377.780 |
277.129 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1143.458 |
990.337 |
932.288 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
470.681 |
388.926 |
290.671 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
672.777 |
601.411 |
641.617 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
97.688 |
114.743 |
109.737 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
575.089 |
486.668 |
531.880 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.97 |
9.29 |
10.15 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
26.00 |
25.92 |
31.70 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
30.59 |
32.53 |
39.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.53 |
6.85 |
9.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.19 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.09 |
1.66 |
1.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.41 |
0.36 |
0.61 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
524.122 |
524.122 |
524.122 |
|
Reserves & Surplus |
2221.007 |
2707.675 |
3282.765 |
|
Net
worth |
2745.129 |
3231.797 |
3806.887 |
|
|
|
|
|
|
Long-term borrowings |
5018.942 |
5191.771 |
4144.319 |
|
Short term borrowings |
0.000 |
163.974 |
0.000 |
|
Total
borrowings |
5018.942 |
5355.745 |
4144.319 |
|
Debt/Equity
ratio |
1.828 |
1.657 |
1.089 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1623.407 |
1848.612 |
2199.483 |
|
|
|
13.872 |
18.980 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1623.407 |
1848.612 |
2199.483 |
|
Profit |
531.880 |
486.668 |
575.089 |
|
|
32.76% |
26.33% |
26.15% |
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 |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION
DETAILS
|
CAPPEAL 3 / 2014 |
CAPPEALSR 1381 /
2014 |
CASE IS:PENDING |
|
PETITIONER |
|
RESPONDENT |
|
SOUTH INDIA
INFRASTRUCTURE DEVELOPMENT CO. PVT. LTD. CHENNAI |
VS |
KAKINADA SEAPORTS LTD, HYD & 13 OTHERS |
|
PET.ADV. : AVINASH
DESAI |
|
RESP.ADV. : PUSHYAM KIRAN |
|
SUBJECT: COMPANY
APPEAL |
|
DISTRICT: HYDERABAD |
|
PETITIONER |
|
RESPONDENT |
|
FILING
DATE: 03-03-2014 |
POSTING STAGE : FOR COUNTER |
|
|
REG.
DATE : 04-03-2014 |
LISTING DATE : 16-06-2014 |
STATUS : ADMIT |
|
HON'BLE
JUDGE(S): |
C.V.NAGARJUNA REDDY |
|
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10015673 |
11/03/2014 * |
5,394,933,266.00 |
BANK OF INDIA |
CHENNAI LARGE CORPORATE BRANCH, IV FLOOR, TARAPORE TOWERS, 826 ANNASALAI, CHENNAI, TAMILNADU - 600002, INDIA |
C00850990 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Foreign currency term loans from banks |
772.999 |
1012.827 |
|
|
|
|
|
Total |
772.999 |
1012.827 |
FINANCIAL RESULTS
During the year, the Company has achieved gross revenue of
Rs. 2820.000 Millions as against Rs.2380.000 Millions in the previous year.
After providing for interest, depreciation and tax, the net profit of the Company
stands at Rs. 570.000 Millions during the year. The overall growth in
performance as evident in the financial statements is due to the increase in
handling the cargo traffic and also due sustained efforts taken by the
management in providing many port user friendly measures and quick turnaround
of cargo has been yielding the results, through a year on year growth in
performance.
FIXED ASSETS:
· Buildings
Other
building
Plant
and equipment
Other
plant and equipment
Furniture
and fixtures
Vehicles
Motor
vehicles
Office
equipment
Other
equipments
Leasehold
improvements
Railway
sidings
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 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] 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. 98.73 |
|
Euro |
1 |
Rs. 78.64 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
63 |
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.