MIRA
INFORM REPORT
|
Report No. : |
334296 |
|
Report Date : |
06.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
PRASHANT WEST POINT MACHINERY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 4/A-3, Phase-1, GIDC Estate, Vatwa GIDC, Vatwa Industrial
Estate, Ahmedabad – 382445, Gujarat |
|
Tel. No.: |
91-79-25830603/258333843/25891779 |
|
|
|
|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
1.05.2005 |
|
|
|
|
Com. Reg. No.: |
04-046040 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29269GJ2005PTC046040 |
|
|
|
|
IEC No.: |
0805008063 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
AADCP6177D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers and Exporters of Textile Machine, World Class Sizing Machine, Warping Machine, Warping Creel like V Creel and H Creel, Denim Preparation Machinery like Ball Warper and Rebeamer, Indigo Dyeing Machine, Polybeamer for PP and HDPE Tapes, Unrolling Creel and Sample Sectional Sizing Machine. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is Group Company of “PRASHANT GROUP”. It is an established
company having satisfactory track record. The company have reported healthy financials risk profile,
profitability and net worth marked by comfortable coverage indicators. The rating further gain strength on established track record,
experienced promoters and interlink financials risk profile of group. Trade relations are fair. Business is active. Payments terms are
reported to be usually correct. In view of sound operational and financial base, the company can be
considered normal for business dealing with its 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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
31-03-2013.
INFORMATION DENIED BY
|
Name : |
Mr. Nilesh Shah |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-79-258333843 |
|
Date : |
30.07.2015 |
LOCATIONS
|
Registered Office : |
Plot No. 4/A-2, Phase-1, GIDC Estate, Vatwa GIDC, Vatwa Industrial Estate,
Ahmedabad – 382445, Gujarat, India |
|
Tel. No.: |
91-79-25830603/258333843/25891779 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 24.09.2014
|
Name : |
Mr. Prakash Hemendrabhai Shah |
|
Designation : |
Chairman/Managing Director |
|
Address : |
22, Sweet Home Society, Ambawadi, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
13.11.1944 |
|
Experience : |
45 Years |
|
Date of Appointment : |
10.05.2005 |
|
DIN No.: |
00170967 |
|
|
|
|
Name : |
Mr. Bhavin Hemendrabhai Shah |
|
Designation : |
Director |
|
Address : |
36, Sujan Society, Ambawadi, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
27.09.1963 |
|
Date of Appointment : |
10.05.2005 |
|
DIN No.: |
00171205 |
|
|
|
|
Name : |
Mr. Kapadia Apurvabhai Navinbhai |
|
Designation : |
Director |
|
Address : |
116, Manekbag Society, Ambawadi, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
05.11.1967 |
|
Experience : |
10 Years |
|
Date of Appointment : |
13.07.2005 |
|
DIN No.: |
00171719 |
|
|
|
|
Name : |
Mrs. Amoliben Prakash Shah |
|
Designation : |
Director |
|
Address : |
22, Sweet Home Society, Ambawadi, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
28.07.1973 |
|
Date of Appointment : |
13.07.2005 |
|
DIN No.: |
00171468 |
|
|
|
|
Name : |
Huguley William Pate |
|
Designation : |
Director |
|
Address : |
1010, Country Road, 87 Lanett, AL 36863, USA |
|
Date of Birth/Age : |
18.01.1974 |
|
Date of Appointment : |
13.07.2005 |
|
DIN No.: |
02875570 |
|
|
|
|
Name : |
Cook Harold Earl |
|
Designation : |
Director |
|
Address : |
1240, Phillips Road, Lanett, Alabama, 36863, USA |
|
Date of Birth/Age : |
03.01.1938 |
|
Date of Appointment : |
01.11.2006 |
|
DIN No.: |
02842727 |
KEY EXECUTIVES
|
Name : |
Mr. Nilesh Shah |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Prakash Hemendrabhai Shah |
99000 |
19.80 |
|
Bhavin Hemendrabhai Shah |
94000 |
18.80 |
|
Surekha Prakash Shah |
25000 |
5.00 |
|
Amoli Prakash Shah |
50000 |
10.00 |
|
Preeti Bhavin Shah |
25000 |
5.00 |
|
Dhruv Prakash Shah |
25000 |
5.00 |
|
Apurva Navinbhai Kapadia |
50000 |
10.00 |
|
Jayantkumar Patwa |
6000 |
1.20 |
|
Sudhaben Jayantkumar Patwa |
6000 |
1.20 |
|
Westpoint Foundry and Machinery |
120000 |
24.00 |
|
Total |
500000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 24.09.2014
|
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 |
24.00 |
|
Directors or relatives of Directors |
76.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of Textile Machine, World Class Sizing Machine, Warping Machine, Warping Creel like V Creel and H Creel, Denim Preparation Machinery like Ball Warper and Rebeamer, Indigo Dyeing Machine, Polybeamer for PP and HDPE Tapes, Unrolling Creel and Sample Sectional Sizing Machine. |
|
|
|
|
Products : |
· Textile Machine · World Class Sizing Machine · Warping Machine · Warping Creel like V Creel and H Creel · Denim Preparation Machinery like Ball Warper and Rebeamer · Indigo Dyeing Machine · Polybeamer for PP and HDPE Tapes ·
Unrolling Creel and Sample Sectional Sizing
Machine |
|
|
|
|
Brand Names : |
Not Divulged |
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|
Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Auditors : |
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|
Name : |
Dinesh R. Shah Chartered Accountants |
|
Address : |
51, Madhuben, Near Madalpur Under Bridge, Ahmedabad – 380006, Gujarat,
India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAFFD0959G |
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Memberships : |
-- |
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|
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|
Collaborators : |
-- |
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|
|
|
Enterprises over which key Management Personnel exercise significant
influence : |
·
Prasad GWK Cooltech Private Limited ·
Prasad Machinery Private Limited ·
Prasad Crilec Automation Private Limited ·
Prasad Wemo Robot Systems Private Limited ·
Prashant Gamatex Private Limited ·
Prashant Engineering Company ·
Prasad Koch Technik Private Limited ·
Prashant Texmach Private Limited ·
Prashant Rostoni Machinery Private Limited ·
PPI Pumps Private Limited ·
PPI Systems ·
PPI Systems ·
Prashant Ferber Logistics Automation Private
Limited ·
Bharat Beams Private Limited |
|
|
|
|
Enterprises/persons having significant influence over company : |
·
West Point Foundry Machine s.p.a – Italy |
CAPITAL STRUCTURE
As on 24.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000
Million |
|
|
|
|
|
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 |
5.000 |
5.000 |
5.000 |
|
(b) Reserves & Surplus |
42.525 |
20.449 |
13.587 |
|
(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) |
47.525 |
25.449 |
18.587 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
19.709 |
14.470 |
52.357 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
2.263 |
1.259 |
3.631 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
21.972 |
15.729 |
55.988 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
65.201 |
24.928 |
51.771 |
|
(c) Other current liabilities |
77.450 |
71.405 |
2.730 |
|
(d) Short-term provisions |
11.331 |
4.650 |
13.301 |
|
Total
Current Liabilities (4) |
153.982 |
100.983 |
67.802 |
|
|
|
|
|
|
TOTAL |
223.479 |
142.161 |
142.377 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3.793 |
4.397 |
5.552 |
|
(ii) Intangible Assets |
0.084 |
0.017 |
0.104 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.131 |
0.117 |
0.348 |
|
(d) Long-term Loan and Advances |
6.225 |
4.999 |
3.636 |
|
(e) Other Non-current assets |
3.955 |
3.563 |
3.516 |
|
Total
Non-Current Assets |
14.188 |
13.093 |
13.156 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
130.295 |
87.346 |
79.564 |
|
(c) Trade receivables |
7.064 |
2.106 |
5.457 |
|
(d) Cash and cash equivalents |
37.574 |
31.463 |
24.735 |
|
(e) Short-term loans and
advances |
33.554 |
7.814 |
19.400 |
|
(f) Other current assets |
0.804 |
0.339 |
0.065 |
|
Total
Current Assets |
209.291 |
129.068 |
129.221 |
|
|
|
|
|
|
TOTAL |
223.479 |
142.161 |
142.377 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Revenue from Operations |
341.539 |
176.306 |
193.089 |
|
|
Other Income |
9.635 |
1.960 |
1.410 |
|
|
TOTAL
(A) |
351.174 |
178.266 |
194.499 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
204.624 |
104.186 |
120.573 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(4.404) |
5.115 |
5.553 |
|
|
Employees benefits expense |
38.624 |
16.540 |
15.042 |
|
|
Other expenses |
59.979 |
29.406 |
25.046 |
|
|
TOTAL
(B) |
298.823 |
155.247 |
166.214 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
52.351 |
23.019 |
28.285 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.629 |
6.536 |
8.312 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
47.722 |
16.483 |
19.973 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
1.213 |
1.485 |
0.737 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
46.509 |
14.998 |
19.236 |
|
|
|
|
|
|
|
Less |
TAX (H) |
15.659 |
5.231 |
5.875 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
30.850 |
9.767 |
13.361 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
255.972 |
53.325 |
69.474 |
|
|
TOTAL
EARNINGS |
255.972 |
53.325 |
69.474 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
17.270 |
7.513 |
19.695 |
|
|
TOTAL
IMPORTS |
17.270 |
7.513 |
19.695 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
61.7 |
19.53 |
26.72 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activity |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
9.03 |
5.54 |
6.92 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
15.33 |
13.06 |
14.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.82 |
10.56 |
13.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.98 |
0.59 |
1.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.41 |
0.57 |
2.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36 |
1.28 |
1.91 |
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 |
5.000 |
5.000 |
5.000 |
|
Reserves & Surplus |
13.587 |
20.449 |
42.525 |
|
Net
worth |
18.587 |
25.449 |
47.525 |
|
|
|
|
|
|
long-term borrowings |
52.357 |
14.470 |
19.709 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
52.357 |
14.470 |
19.709 |
|
Debt/Equity
ratio |
2.817 |
0.569 |
0.415 |
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 |
193.089 |
176.306 |
341.539 |
|
|
|
(8.692) |
93.719 |
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 |
193.089 |
176.306 |
341.539 |
|
Profit |
13.361 |
9.767 |
30.850 |
|
|
6.92% |
5.54% |
9.03% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from 4/1, Phase-I, GIDC Estate, Vatva, Ahmedabad – 382445, Gujarat, India to the present address w.e.f. 01.10.2007
OPERATIONS:
The Company has achieved total sales of Rs. 341.538 Million during the
current year as compared to the Rs. 176.306 Million during previous year. The
company has incurred Net Profit of Rs. 30.850 Million against the previous year
Profit of Rs. 9.767 Million. The Directors are hopefully to achieve better
results in coming years.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Prakashbhai H. Shah (HUF) |
3.286 |
0.000 |
|
SMT. Surekhaben P. Shah |
16.423 |
14.470 |
|
Total |
19.709 |
14.470 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10302217 |
15/07/2013
* |
20,000,000.00 |
HDFC
BANK LIMITED |
HDFC
BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013,
INDIA |
B81675548 |
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
Guarantees –Domestics |
1.581 |
1.851 |
|
Guarantees – Foreign $ 241525 * @ 53.54 |
0.000 |
1.292 |
FIXED ASSETS
TANGILE ASSETS
·
Plant and Machinery
·
Electric Installation
·
Mobile
·
Die and Pattern
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Motor Car
·
Tools
·
Carrier Vehicles
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.63.81 |
|
|
1 |
Rs.99.15 |
|
Euro |
1 |
Rs.69.31 |
INFORMATION DETAILS
|
Information Gathered
by : |
SPR |
|
|
|
|
Analysis Done by
: |
KSH |
|
|
|
|
Report Prepared
by : |
SUJ |
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 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.