MIRA INFORM REPORT
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Report No. : |
316208 |
|
Report Date : |
07.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
INOX INDIA LIMITED (w.e.f. 19.03.1987) |
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Formerly Known
As : |
BARODA OXYGEN LIMITED |
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Registered
Office : |
9th Floor, K P Platina, Race Course, Vadodara – 390007,
Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
21.12.1976 |
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Com. Reg. No.: |
04-018945 |
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Capital
Investment / Paid-up Capital : |
Rs. 99.147 Million |
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CIN No.: [Company Identification
No.] |
U99999GJ1976PLC018945 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDI00238A BRDI00194F |
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PAN No.: [Permanent Account No.] |
AAACI4416P |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Cryogenic insulation technology
equipments. |
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No. of Employees
: |
800 (Approximately) |
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is part of the Inox India Group. It is an established company having fine track record. Financial position of the company is sound. Fundamentals are strong. The rating also takes into consideration strong market position in the
cryogenic storage industry in India. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular and as per commitment. The company can be considered 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: A+ |
|
Rating Explanation |
Adequate degree of safety it carry low credit risk. |
|
Date |
January 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: A1 |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
January 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 PARTED BY
|
Name : |
Mr. Nimrodh Shaw |
|
Designation : |
Senior Officer Accounts |
|
Contact No.: |
91-265-3056100 |
|
Date : |
06.04.2015 |
LOCATIONS
|
Registered Office : |
9th Floor, K P Platina, Race Course, Vadodara – 390007, Gujarat,
India |
|
Tel. No.: |
91-265-3056100 |
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Fax No.: |
91-265-2320413 |
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E-Mail : |
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Website : |
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Factory 1 : |
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Location : |
Owned |
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Factory 2 : |
Survey No. 142/1 Part, Rakholi Madhuban Dam Road, Opposite Government Polytechnic, Village Karad, Silvassa - -396 240, UT of Dadra and Nagar Haveli, India |
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Factory 3 : |
Plot No. 439 and 440, Sector IV, Kandia Special Economic Zone, Gandhidham - 370230, District Bhuj (Kutch), Gujarat, India |
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Factory 4 : |
Survey No. 868-P, Surajbari Site, Shikarpur, Taluka Bhachau, District Bhuj (Kutch) - 370 230, Gujarat, India |
DIRECTORS
As on 16.12.2014
|
Name : |
Mr. Devndrakumar Sidhhomal Jain |
|
Designation : |
Director |
|
Address: |
47, Golf, Links, New Delhi – 110 003, India |
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Date of Birth: |
02.03.1929 |
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Date of Appointment : |
16.04.1979 |
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DIN No.: |
00029782 |
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PAN No. : |
AAAPJ4761D |
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Name : |
Mr. Pavankumar Devendra Jain |
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Designation : |
Director |
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Address: |
31, Benzer Terrace, A G Khan Road, Worli Mumbai – 400 018, Maharashtra, India |
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Date of Birth: |
17.05.1951 |
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Date of Appointment : |
16.04.1979 |
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DIN No.: |
00030098 |
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PAN No. : |
AAJPJ5851D |
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Name : |
Mr. Vivekkumar Devenkumar Jain |
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Designation : |
Director |
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Address: |
47, Golf, Links, New Delhi – 110 003, India |
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Date of Birth: |
30.08.1955 |
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Date of Appointment : |
14.06.2007 |
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DIN No.: |
00029968 |
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PAN No. : |
AAAPJ4588L |
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Name : |
Mr. Siddharth Pavankumar Jain |
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Designation : |
Director |
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Address: |
31 Benzer Terrace, 94, Sea Face, Worli, Mumbai – 400018, Maharashtra, India |
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Date of Birth: |
21.09.1978 |
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Qualification: |
B.Sc., MBA |
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Date of Appointment : |
17.03.2004 |
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DIN No.: |
00030202 |
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PAN No. : |
ACYPJ7083L |
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|
Name : |
Mr. Parag Padmakar Kulkarni |
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Designation : |
Director |
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Address: |
C -404 Samrajya Flat opposite Sabri Vidyalaya, off Vasna Road, Vadodara – 390 007, Gujarat, India |
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Date of Birth: |
07.09.1950 |
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Qualification: |
BE, MMS |
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Date of Appointment : |
25.09.1999 |
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DIN No.: |
00209184 |
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|
|
Name : |
Mr. Ronaldo Sullam |
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Designation : |
Director |
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Address: |
8, Woodlands Road, Barnes, London |
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Date of Birth: |
09.03.1941 |
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Qualification: |
Chemical Engineer |
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Date of Appointment : |
11.03.2010 |
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DIN No.: |
00509312 |
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|
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Name : |
Mr. Mukul Gopal Rajendra Nag |
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Designation : |
Director |
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Address: |
B 503, Ashok Towers, Dr S S Rao Road, Parel, Mumbai – 400012, Maharashtra, India |
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Date of Birth: |
13.07.1970 |
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Date of Appointment : |
22.06.2012 |
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Name : |
Mr. Nainesh Jayasingh |
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Designation : |
Director |
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Address: |
31 Urvashi Petit Hall, 66 Napeansea Road, Mumbai – 400006, Maharashtra, India |
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Date of Birth: |
24.04.1987 |
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Date of Appointment : |
22.06.2012 |
KEY EXECUTIVES
|
Name : |
Mr. Nimrodh Shaw |
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Designation : |
Senior Officer Accounts |
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|
Name : |
Mr. Pavankumar Logar |
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Designation : |
Company Secretary |
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Address : |
102, Samrajya Flat opposite Rajesh Tower, Subhnapura, Vadodara
–
390 023, Gujarat, India |
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Date of Birth/Age : |
10.06.1965 |
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Date of Appointment : |
13.12.1993 |
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PAN No. : |
AAKPL3184G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 16.12.2014
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 16.12.2014
|
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 |
4.62 |
|
Bodies corporate |
0.04 |
|
Directors or relatives of Directors |
94.33 |
|
Other top fifty shareholders |
1.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cryogenic insulation technology
equipments. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit (30-60-90 Days) |
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Purchasing : |
Cash and Credit (30-60-90 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users and OEMS
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No. of Employees : |
800 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Walker Chandiok and Company LLP Chartered Accountants |
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Address : |
16th Floor, Tower II, Indiabulls Fiinance Centre, S B Marg, Elphinstone (West), Mumbai-400013, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFW4298E |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiary company: |
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Step-down
subsidiary: |
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Entities in which
KMP and their relatives have significant influence: |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18000000 |
Equity Shares |
Rs.10/- each |
Rs.180.000 Millions |
|
2000000 |
Preference Share |
Rs.10/- each |
Rs.20.000
Million |
|
|
Total |
|
Rs.200.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9076350 |
Equity Shares |
Rs.10/- each |
Rs.90.763 Million |
|
838374 |
Preference Share |
Rs.10/- each |
Rs.8.384
Million |
|
|
Total |
|
Rs.99.147 Millions |
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
99.147 |
107.531 |
90.764 |
|
(b) Reserves & Surplus |
3336.182 |
4131.548 |
1796.269 |
|
(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) |
3435.329 |
4239.079 |
1887.033 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
462.955 |
825.651 |
928.106 |
|
(b) Deferred tax liabilities
(Net) |
100.119 |
98.857 |
83.232 |
|
(c) Other long term
liabilities |
15.694 |
13.204 |
0.000 |
|
(d) long-term provisions |
14.790 |
8.806 |
5.165 |
|
Total
Non-current Liabilities (3) |
593.558 |
946.518 |
1016.503 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1398.527 |
888.066 |
558.581 |
|
(b) Trade payables |
331.674 |
212.364 |
223.165 |
|
(c) Other current liabilities |
922.604 |
652.145 |
697.446 |
|
(d) Short-term provisions |
111.637 |
71.266 |
78.465 |
|
Total
Current Liabilities (4) |
2764.442 |
1823.841 |
1557.657 |
|
|
|
|
|
|
TOTAL |
6793.329 |
7009.438 |
4461.193 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
992.307 |
1015.558 |
812.902 |
|
(ii) Intangible Assets |
7.466 |
7.462 |
7.608 |
|
(iii) Capital work-in-progress |
0.000 |
22.714 |
10.116 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1631.865 |
2111.198 |
1491.198 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
374.428 |
298.709 |
154.463 |
|
(e) Other Non-current assets |
65.476 |
17.157 |
0.000 |
|
Total
Non-Current Assets |
3071.542 |
3472.798 |
2476.287 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
840.000 |
0.000 |
0.040 |
|
(b) Inventories |
1133.011 |
1165.666 |
1109.006 |
|
(c) Trade receivables |
749.447 |
1041.036 |
781.731 |
|
(d) Cash and cash equivalents |
805.903 |
1206.449 |
3.751 |
|
(e) Short-term loans and
advances |
179.597 |
110.704 |
90.309 |
|
(f) Other current assets |
13.829 |
12.785 |
0.069 |
|
Total
Current Assets |
3721.787 |
3536.640 |
1984.906 |
|
|
|
|
|
|
TOTAL |
6793.329 |
7009.438 |
4461.193 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
3005.557 |
3714.709 |
3011.727 |
|
|
Other Income |
182.874 |
102.801 |
30.573 |
|
|
TOTAL
(A) |
3188.431 |
3817.510 |
3042.300 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1259.233 |
1748.002 |
1752.867 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(11.519) |
(133.269) |
(261.960) |
|
|
Employees benefits expense |
309.332 |
268.268 |
210.192 |
|
|
Other expenses |
1040.812 |
1097.568 |
652.410 |
|
|
TOTAL
(B) |
2597.858 |
2980.569 |
2353.509 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
590.573 |
836.941 |
688.791 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
172.091 |
113.503 |
189.800 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
418.482 |
723.438 |
498.991 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
80.178 |
68.086 |
55.186 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
338.304 |
655.352 |
443.805 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
133.762 |
210.224 |
120.070 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
204.542 |
445.128 |
323.735 |
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1869.289 |
1505.613 |
1337.366 |
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Proposed Dividend on Class 'A'
Equity Shares |
9.076 |
22.691 |
45.382 |
|
|
Proposed dividend on
compulsorily convertible preference shares |
0.838 |
4.192 |
45.382 |
|
|
Tax on Dividend |
1.685 |
4.569 |
14.725 |
|
|
General Reserve |
20.000 |
50.000 |
50.000 |
|
|
Capital Redemption Reserve |
8.384 |
0.000 |
0.000 |
|
|
Balance
Carried to the B/S |
2033.848 |
1869.289 |
1505.612 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
NA |
1296.625 |
|
|
Other recoveries on exports |
NA |
NA |
58.088 |
|
|
TOTAL
EARNINGS |
NA |
NA |
1354.713 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
NA |
872.405 |
|
|
Components and Stores parts |
NA |
NA |
14.617 |
|
|
Capital Goods |
NA |
NA |
11.701 |
|
|
TOTAL
IMPORTS |
NA |
NA |
898.723 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
|
|
|
|
Basic |
23.43 |
48.50 |
35.67 |
|
|
Diluted |
20.63 |
41.40 |
35.67 |
Expected Sales (2014-2015): Rs.3500.000 Million
The above information has been parted by Mr. Nimrodh Shaw
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
6.81 |
11.98 |
10.75 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
19.65 |
22.53 |
22.87 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.55 |
13.44 |
14.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.15 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.54 |
0.40 |
0.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35 |
1.94 |
1.27 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
90.764 |
107.531 |
99.147 |
|
Reserves & Surplus |
1796.269 |
4131.548 |
3336.182 |
|
Net
worth |
1887.033 |
4239.079 |
3435.329 |
|
|
|
|
|
|
long-term borrowings |
928.106 |
825.651 |
462.955 |
|
Short term borrowings |
558.581 |
888.066 |
1398.527 |
|
Total
borrowings |
1486.687 |
1713.717 |
1861.482 |
|
Debt/Equity
ratio |
0.788 |
0.404 |
0.542 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
3011.727 |
3714.709 |
3005.557 |
|
|
|
23.341 |
-19.090 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
3011.727 |
3714.709 |
3005.557 |
|
Profit |
323.735 |
445.128 |
204.542 |
|
|
10.75% |
11.98% |
6.81% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Million) |
||
|
Current maturities of long-term debt |
477.694 |
327.739 |
307.097
|
|
|
|
|
|
|
Total |
477.694 |
327.739 |
307.097
|
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OVERALL PERFORMANCE
The company's Indian operations have achieved revenue of INR 3188.400 Million and profit despite depressed market condition and new competitors entered Indian market. During this period new projects activity in India as well as global market was very depressed.
PERFORMANCE OF
SUBSIDIARY COMPANIES:
In 2009, the company has acquired 70% Equity Shares of Cryogenic Vessel Alternatives Inc (CVA Inc), USA with their two 100% Subsidiary Companies namely CVA Canada Inc and CVA China LLC. The consolidated performance of 2013 in revenue is USD 106.03 m.
Further, Cryogenic Vessel Alternatives Inc (CVA Inc), USA has transferred its stake in M/s CVA China LLC having joint venture operation in Beijing, China to M/s HK Bright Dragon Investment Group Ltd, for consideration of USD 5.2 Million, in April, 2014.
In 2012, the company has started service unit at Indaiatuba at Sao Paulo at Brazil by establishing a new company INOXCVA Comercio E Industria De Equipamentos Criogenicos Ltda. As on 31.03.2014, the company is holding 99.97% in the said company. As required under Section 212 of the Companies Act, 1956, a statement of the Company's interest in its subsidiaries alongwith the Annual Reports of its subsidiaries are annexed hereto.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from others |
30.000 |
0.000 |
|
Total |
30.000 |
0.000 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10556001 |
20/01/2015 |
1,550,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,,DR. ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA - 400018, INDIA |
C47240635 |
|
2 |
10519085 |
12/08/2014 |
200,000,000.00 |
ING VYSYA BANK LIMITED |
22, M G
ROAD,BANGALORE, BANGALORE, KARNATAKA - 560 |
C19945393 |
|
3 |
10519087 |
12/08/2014 |
500,000,000.00 |
ING VYSYA BANK LIMITED |
22, M G ROAD,BANGALORE,
BANGALORE, KARNATAKA - 560 |
C19947449 |
|
4 |
10517829 |
06/08/2014 |
500,000,000.00 |
YES BANK LIMITED |
NEHRU CENTRE, 9TH
FLOOR DISCOVERY OF INDIA, DR. A |
C19043793 |
|
5 |
10359651 |
26/08/2014 * |
560,000,000.00 |
STANDARD CHARTERED BANK |
ABHIJEET II, GROUND
FLOOR,, NEAR MITHAKALI SIX RO |
C20896643 |
|
6 |
10250804 |
26/08/2014 * |
135,600,000.00 |
STANDARD CHARTERED BANK |
ABHIJEET II, GROUND
FLOOR,, NEAR MITHAKALI SIX RO |
C20895538 |
|
7 |
10187480 |
26/08/2014 * |
930,200,000.00 |
STANDARD CHARTERED BANK |
ABHIJEET II, GROUND
FLOOR,, NEAR MITHAKALI SIX RO |
C20901633 |
|
8 |
10113713 |
11/04/2012 * |
500,000,000.00 |
STANDARD CHARTERED BANK |
ABHIJEET II,,
MITHAKHALI SIX ROADS,, AHMEDABAD, G |
B38753075 |
|
9 |
90145084 |
30/06/2004 * |
30,000,000.00 |
IDBI BANK LTD. |
CONCORDE; R.C. DUTT
ROAD, ALKAPURI, BARODA, GUJAR |
- |
|
10 |
90103736 |
08/02/2014 * |
2,231,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX,
CUFFE PARADE, MUMBAI, MAHA |
B97708523 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Other equipments
Intangible assets
- Computer software
- Know-how
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.62.16 |
|
|
1 |
Rs.92.73 |
|
Euro |
1 |
Rs.68.23 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
6 |
|
--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 |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--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.