MIRA INFORM REPORT
|
Report No. : |
336852 |
|
Report Date : |
18.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
VADINAR POWER
COMPANY LIMITED |
|
|
|
|
Registered
Office : |
Vadinar Power Company, Administration Building, Refinery Site, 39 KM, Jamnagar-Okha
Highway, Vadinar, Jamnagar – 361305, Gujarat |
|
Tel. No.: |
91-2833-661490 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
03.10.1997 |
|
|
|
|
Com. Reg. No.: |
04-033108 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7880.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40100GJ1997PLC033108 |
|
|
|
|
IEC No.: |
0898005141 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV5226C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in operating co-generation power plants. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 30000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of Essar Power Limited It is an established company having moderate track. For the financial year 2014, the company’s sales turnover has been
increased as compared to the previous year record which resulted rise in
profit of the company. However, the rating is constrained on account of company’s moderate
financial risk profile marked by low reserves level and leverage balance
sheet profile of the company. Trade relations are fair. Business is active. Payment terms are
reported to be slow. 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.
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 |
CARE |
|
Rating |
Long term bank
facilities = BB (Suspended) |
|
Rating Explanation |
Inadequate credit
quality and high credit risk. |
|
Date |
March 10, 2015 |
Reason for suspension: Absence of requisite
information.
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
Management non co-operative (91-2833-661490)
LOCATIONS
|
Registered Office : |
Vadinar Power Company, Administration Building, Refinery Site, 39 KM,
Jamnagar-Okha Highway, Vadinar, Jamnagar – 361305, Gujarat, India |
|
Tel. No.: |
91-2833-661490 |
|
Fax No.: |
91-2833-662929 |
|
E-Mail : |
|
|
|
|
|
Corporate Office: |
Equinox Business Park, Tower II, 5th Floor, Off. Bandra –
Kurla complex, LBS Marg, Kurla (West), Mumbai – 400070, Maharashtra, India |
|
Tel. No.: |
91-22-66011100/ 67335000/ 40011100 |
|
Fax No.: |
91-22-23544787 |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Chakrapany Manoharan |
|
Designation : |
Director |
|
Address : |
G-15, Essar Nandniketan Township, Opposite Baid Village, Jamnagar Khambhalia Highway, Sh 25, Jamnagar - 361006, Gujarat, India |
|
Date of Birth/Age : |
21.11.1953 |
|
Date of Appointment : |
24.05.2013 |
|
DIN No.: |
00184471 |
|
|
|
|
Name : |
Mr. Suresh Chandra Jain |
|
Designation : |
Director |
|
Address : |
102-Astvinayak, Kailash Puri Road, Upper Govind Nagar, Malad (East), Mumbai - 400097, Maharashtra, India |
|
Date of Birth/Age : |
28.03.1964 |
|
Date of Appointment : |
24.05.2013 |
|
DIN No.: |
02315644 |
|
|
|
|
Name : |
Mr. Vijayabhaskara Kalakota Reddy |
|
Designation : |
Director |
|
Address : |
3702-C, Lodha Bellissimo, Apollo Mills Compound N. M. Joshi Marg, Mahalaxmi, Mumbai - 400011, Maharashtra, India |
|
Date of Birth/Age : |
01.07.1961 |
|
Date of Appointment : |
15.04.2009 |
|
DIN No.: |
01683467 |
|
|
|
|
Name : |
Mr. Lalit Kumar Gupta |
|
Designation : |
Managing Director |
|
Address : |
1902, Suchi Heights, Film City Road, Near Dindoshi Bus Depot, Malad (East), Mumbai - 400097, Maharashtra, India |
|
Date of Birth/Age : |
20.09.1960 |
|
Date of Appointment : |
03.12.2011 |
|
DIN No.: |
00017344 |
|
|
|
|
Name : |
Mr. Kishor Bhurabhai Makadia |
|
Designation : |
Whole-Time Director |
|
Address : |
Flat No-E/15, Nandniketan Town Ship, Baid Village, Jamnagar - 361008, Gujarat, India |
|
Date of Birth/Age : |
05.08.1956 |
|
Date of Appointment : |
05.08.2009 |
|
DIN No.: |
02736225 |
|
|
|
|
Name : |
Mr. Shankar Rugmani |
|
Designation : |
Additional Director |
|
Address : |
46, 2nd Cross, Vinayaka Layout, Bhoopasandra, Bangalore - 560094, Karnataka, INDIA |
|
Date of Appointment : |
30.03.2015 |
|
DIN No.: |
00746124 |
|
|
|
|
Name : |
Mr. Mohanlal Ramgopal Sharma |
|
Designation : |
Additional Director |
|
Address : |
K-205, Sector-19, Gandhinagar - 382019, Gujarat, India |
|
Date of Appointment : |
30.03.2015 |
|
DIN No.: |
02724685 |
KEY EXECUTIVES
|
Name : |
Sanjyot Nilesh Rangnekar |
|
Designation : |
Company Secretary |
|
Address : |
B 202 Rustomjee Astraea, Near Lodha Paradise, Majiwada, Thane - 400601, Maharashtra, India |
|
Date of Birth/Age : |
06.07.1970 |
|
Date of Appointment : |
10.04.2014 |
|
PAN No.: |
AANPR5686C |
|
|
|
|
Name : |
Mr. Sanjay Chandra Raj Mehta |
|
Designation : |
Chief Financial Officer |
|
Address : |
B-704, Magnum, Vasant Marvel Complex, Borivali, Mumbai - 400066, Maharashtra, India |
|
Date of Appointment : |
30.03.2015 |
|
PAN No.: |
ACEPM9740P |
MAJOR SHAREHOLDERS
As on 29.09.2014
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Essar Power Limited, India |
|
293000000 |
|
Essar Oil Limited, India |
|
102999994 |
|
Essar Power Limited Jointly with T. Rajmohan |
|
1 |
|
Essar Power Limited Jointly with R. K. Sethi |
|
1 |
|
Essar Power Limited Jointly with Naveen Maheshwari |
|
1 |
|
Essar Power Limited Jointly with Sandip Sinha |
|
1 |
|
Essar Power Limited Jointly with Nitin Patil |
|
1 |
|
Essar Power Limited Jointly with R. R. Pillai |
|
1 |
|
Total |
|
396000000 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Essar Power Limited, India |
|
391998000 |
|
Total |
|
391998000 |
As on 29.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in operating co-generation power plants. |
|
|
|
|
Products : |
Co-generation Power Plants |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
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|
|
|
Exports : |
Not Divulged |
|
|
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Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
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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|
Facilities : |
(Rs.
In Million)
|
|
Financial Institution : |
· Power Finance Corporation Limited, Urjanidhi, 1, Barakhamba Lane, Connaught Place, New Delhi – 110001, India
|
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
"Heritage", 3rd Floor, Near Gujarat Vidhyapith, Off. Ashram
Road, Ahmedabad – 380014, Gujarat, India |
|
Tel. No.: |
91-79-27582542/ 27582543 |
|
Fax No.: |
91-79-27582551 |
|
PAN No.: |
AABFD7919A |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company: |
Essar Power Limited (EPOL) |
|
|
|
|
Ultimate Holding Company: |
Essar Global Limited, Cayman Islands (EGL) |
|
|
|
|
Fellow
Subsidiaries Company: |
· Essar Power Gujarat Limited (EPGL) · Essar Power M. P. Limited (EPMPL) · Bhander Power Limited (BPOL) · Essar Power (Jharkhand) Limited |
|
|
|
|
Enterprises commonly controlled or influenced by major shareholders / director
of the company : |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000000 |
Equity Shares |
Rs.10/- each |
Rs.30000.000 Million |
|
1000000000 |
Preference Shares |
Rs.10/- each |
Rs.10000.000 Million |
|
|
Total |
|
Rs.40000.000
Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
396000000 |
Equity Shares |
Rs.10/- each |
Rs.3960.000
Million |
|
391998000 |
Preference Shares |
Rs.10/- each |
Rs.3920.000
Million |
|
|
Total |
|
Rs.7880.000 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 |
7880.000 |
7880.000 |
7880.000 |
|
(b) Reserves &
Surplus |
2935.100 |
2660.500 |
2491.000 |
|
(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) |
10815.100 |
10540.500 |
10371.000 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
17805.200 |
20301.500 |
22009.500 |
|
(b) Deferred tax
liabilities (Net) |
542.400 |
626.000 |
222.300 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
237.700 |
|
(d) long-term provisions |
12.900 |
12.300 |
20.100 |
|
Total Non-current
Liabilities (3) |
18360.500 |
20939.800 |
22489.600 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
297.100 |
0.000 |
|
(b) Trade payables |
97.400 |
220.900 |
48.400 |
|
(c) Other current
liabilities |
34662.900 |
8962.700 |
2360.900 |
|
(d) Short-term provisions |
12.500 |
2.700 |
12.900 |
|
Total Current Liabilities
(4) |
34772.800 |
9483.400 |
2422.200 |
|
|
|
|
|
|
TOTAL |
63948.400 |
40963.700 |
35282.800 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
31499.100 |
32251.400 |
9119.800 |
|
(ii) Intangible Assets |
2.500 |
4.800 |
6.600 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
20876.400 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
559.600 |
1039.600 |
1332.200 |
|
(e) Other Non-current
assets |
19.800 |
25.400 |
31.900 |
|
Total Non-Current Assets |
32081.000 |
33321.200 |
31366.900 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
570.300 |
319.900 |
474.200 |
|
(c) Trade receivables |
0.000 |
0.000 |
442.100 |
|
(d) Cash and cash
equivalents |
1472.200 |
559.100 |
2842.800 |
|
(e) Short-term loans and
advances |
27763.000 |
6044.500 |
122.900 |
|
(f) Other current assets |
2061.900 |
719.000 |
33.900 |
|
Total Current Assets |
31867.400 |
7642.500 |
3915.900 |
|
|
|
|
|
|
TOTAL |
63948.400 |
40963.700 |
35282.800 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
5886.300 |
4128.800 |
2551.200 |
|
|
Other Income |
1754.300 |
383.900 |
139.600 |
|
|
TOTAL |
7640.600 |
4512.700 |
2690.800 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost
of Materials Consumed |
0.000 |
56.900 |
0.000 |
|
|
Employees benefits expense |
168.500 |
120.200 |
120.600 |
|
|
Other expenses |
557.600 |
334.300 |
200.800 |
|
|
TOTAL |
726.100 |
511.400 |
321.400 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
6914.500 |
4001.300 |
2369.400 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
4729.100 |
2159.000 |
894.800 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
2185.400 |
1842.300 |
1474.600 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1945.400 |
1125.400 |
548.500 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
240.000 |
716.900 |
926.100 |
|
|
|
|
|
|
|
Less |
TAX |
(34.600) |
547.400 |
249.500 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
274.600 |
169.500 |
676.600 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
2660.000 |
2490.500 |
1813.900 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
2934.600 |
2660.000 |
2490.500 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Coal |
0.000 |
308.000 |
204.400 |
|
|
Components and Stores
parts |
6.900 |
1.300 |
88.400 |
|
|
Capital Goods |
205.200 |
37.200 |
648.900 |
|
|
TOTAL IMPORTS |
212.100 |
346.500 |
941.700 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
0.69 |
0.42 |
1.70 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
2,900.000 |
2496.300 |
1944.600 |
|
Cash generated from operations |
28301.900 |
9441.800 |
2224.400 |
|
Net cash generated from operating activities |
27810.800 |
9207.600 |
2038.500 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
4.67 |
4.11 |
26.52 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
117.47 |
96.91 |
92.87 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.38 |
1.75 |
6.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.07 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.91 |
2.19 |
2.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.92 |
0.81 |
1.62 |
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 |
7880.000 |
7880.000 |
7880.000 |
|
Reserves & Surplus |
2491.000 |
2660.500 |
2935.100 |
|
Net worth |
10371.000 |
10540.500 |
10815.100 |
|
|
|
|
|
|
long-term borrowings |
22009.500 |
20301.500 |
17805.200 |
|
Short term borrowings |
0.000 |
297.100 |
0.000 |
|
Current Maturities of Long
Term Debt |
1944.600 |
2496.300 |
2900.000 |
|
Total borrowings |
23954.100 |
23094.900 |
20705.200 |
|
Debt/Equity ratio |
2.310 |
2.191 |
1.914 |
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 |
2551.200 |
4128.800 |
5886.300 |
|
|
|
61.838 |
42.567 |
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 |
2551.200 |
4128.800 |
5886.300 |
|
Profit |
676.600 |
169.500 |
274.600 |
|
|
26.52% |
4.11% |
4.67% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
Yes |
|
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 address has been shifted from the Refinery Administration
Building, Khambhalia Post Jamnagar – 361305, Gujarat, India to the present
address w.e.f. 01.10.2010.
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10521683 |
24/09/2014 |
2,250,000,000.00 |
YES BANK LIMITED |
NEHRU CENTRE, 9TH FLOOR, DISCOVERY OF INDIA, DR. A.B. ROAD, WORLI, MUMBAI - 400018, Maharashtra, INDIA |
C22145403 |
|
2 |
10489978 |
12/04/2014 |
1,250,000,000.00 |
IDFC Limited |
IDFC Limited, No. 1, Harrington Road, Chetpet, Chennai - 600031, Tamil Nadu, INDIA |
C03335718 |
|
3 |
10283892 |
29/06/2012 * |
7,350,000,000.00 |
POWER FINANCE CORPORATION LIMITED |
'URJANIDHI', 1,BARAKHAMBA LANE,, CONNAUGHT PLACE, NEW DELHI, Delhi - 110001, INDIA |
B42985895 |
|
4 |
10210316 |
21/12/2010 * |
17,610,000,000.00 |
POWER FINANCE CORPORATION LIMITED |
'URJANIDHI', 1,BARAKHAMBA LANE,, CONNAUGHT PLACE, NEW DELHI, Delhi - 110001, INDIA |
B02883874 |
|
5 |
10209796 |
29/03/2011 * |
17,610,000,000.00 |
POWER FINANCE CORPORATION LIMITED |
'URJANIDHI', 1,BARAKHAMBA LANE,, CONNAUGHT PLACE, NEW DELHI, Delhi - 110001, INDIA |
B09246125 |
|
6 |
10131570 |
17/09/2009 * |
10,000,000,000.00 |
Axis Bank Limited |
UNIVERSAL INSURANCE BUILDING, SIR P. M. ROAD, MUMBAI - 400001,, Maharashtra INDIA |
A70026109 |
* Date of charge modification
FIXED ASSETS
- Freehold Land
- Building
- Plant and Machinery
- Furniture and Fixture
- Office Equipment
- Computer
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 records 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.65.22 |
|
|
1 |
Rs.102.23 |
|
Euro |
1 |
Rs.72.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
30 |
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.