MIRA INFORM REPORT
|
Report No. : |
352628 |
|
Report Date : |
01.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
FEDBANK FINANCIAL SERVICES LIMITED |
|
|
|
|
Registered
Office : |
Federal Towers, Alwaye, Ernakulam – 683101, Kerala |
|
Tel. No.: |
91-22-42930700 / 26535112 / 42930799 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
17.04.1995 |
|
|
|
|
Com. Reg. No.: |
09-008910 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1900.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65910KL1995PLC008910 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
PAN No.: [Permanent Account No.] |
Not Available |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in Providing Gold Loan, Loan Against Property, Home
Loan, Car Loan. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (60) |
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of Federal Bank Limited, incorporated in the
year 1995. For the financial year ended company has incurred losses from its
operational activity. The company has robust capitalization levels, comfortable assets parameters
and decent diversification in lending portfolio. Rating derives strength from high degree of management integration and
brand linkage with its holding company. Trade relations are fair. Business is active. Payments are regular. 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 |
CARE |
|
Rating |
Long Term Bank Facilities = AA- |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
December, 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
31-03-2015.
INFORMATION DECLINED BY
|
Name : |
Mr. Sandeep Agarwal |
|
Designation : |
Finance Head |
|
Contact No.: |
91-22-26535112 |
|
Date : |
28.11.2015 |
LOCATIONS
|
Registered Office : |
Federal Towers, Alwaye, Ernakulam – 683101, Kerala, India |
|
Tel. No.: |
91-22-42930700 / 26535112 / 42930799 |
|
Fax No.: |
91-22-26524144 |
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E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Corporate Office : |
C-6, Laxmi Tower, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
Tel. No.: |
91-22-42930799 |
|
Email : |
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Branch : |
Located at:
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Distribution Network: |
Located at:
|
DIRECTORS
AS ON: 15.07.2014
|
Name : |
Mr. Suresh Muthukrishna Kumar |
|
Designation : |
Director |
|
Address : |
H. H. SH. Hamadan Bin Rashid Villa, 352/26B, Jumeirah Area, N R Arenco
Villas, Villa-05(76), Dubai, UAE |
|
Date of Birth/Age : |
08.07.1950 |
|
Date of Appointment : |
24.08.2007 |
|
DIN No.: |
00494479 |
|
|
|
|
Name : |
Mr. Mohammad Yousuf Khan |
|
Designation : |
Director |
|
Address : |
S-378, Panchsheel Park, New Delhi – 110017, India |
|
Date of Birth/Age : |
24.06.1944 |
|
Date of Appointment : |
13.09.2010 |
|
Date of cessation : |
09.09.2014 |
|
DIN No.: |
00570339 |
|
|
|
|
Name : |
Mr. Shyam Srinivasan |
|
Designation : |
Director |
|
Address : |
101, Nagarjuna Apartments, 36 Ram N St. T Nagar, Chennai – 600017,
Tamilnadu, India |
|
Date of Birth/Age : |
02.02.1962 |
|
Date of Appointment : |
03.08.2011 |
|
DIN No.: |
02274773 |
|
|
|
|
Name : |
Mr. Sudhir Joshi |
|
Designation : |
Director |
|
Address : |
1705, Tower A, Dosti Elite, Near Sion, Telephone Exchange, Sion,
Mumbai – 400022, Maharashtra, India |
|
Date of Birth/Age : |
27.02.1947 |
|
Date of Appointment : |
04.06.2013 |
|
Date of Cessation : |
14.01.2014 |
|
DIN No.: |
00349597 |
|
|
|
|
Name : |
Prof. Abraham Koshy |
|
Designation : |
Director |
|
Address : |
House – 409, Indian Institute of Management, Vastrapur – 380015,
Gujarat, India |
|
Date of Birth/Age : |
18.01.1953 |
|
Date of Appointment : |
04.06.2013 |
|
DIN No.: |
00471385 |
|
|
|
|
Name : |
Mr. Ujwal Madhusudan Thakar |
|
Designation : |
Director |
|
Address : |
A-402, 4th Floor, Chaitanya Tower,, A Marathe Marge Prabhadevi, Mumbai - 400025, Maharashtra, India |
|
Date of Appointment : |
12.01.2015 |
|
DIN No.: |
02333399 |
|
|
|
|
Name : |
Mr. Dilip Gena Sadarangani |
|
Designation : |
Nominee Director |
|
Address : |
901, La Sonrisa L.N. Road, Opposite Ruia College, Matunga (East), Mumbai - 400019, Maharashtra, India |
|
Date of Appointment : |
01.04.2014 |
|
DIN No.: |
06610897 |
|
|
|
|
Name : |
Ms. Gauri Rushabh Shah |
|
Designation : |
Director |
|
Address : |
Flat No. 5, 3rd Floor, Indian Mercantile Mansion, Madam Cama Road, Museum, Colaba, Mumbai - 400039, Maharashtra, India |
|
Date of Appointment : |
13.02.2015 |
|
DIN No.: |
06625227 |
KEY EXECUTIVES
|
Name : |
Mr. Dilip Kr Radheshyam Maloo |
|
Designation : |
Secretary |
|
Address : |
C-106, Gayatri Shivam Co-operative Housing Society Limited, 90 Feet
Road, Near Sai Hospital, Thakur Complex, Kandivali (East), Mumbai - 400101, Maharashtra, India |
|
Date of Birth/Age : |
04.07.1980 |
|
Date of Appointment : |
13.05.2010 |
|
PAN No.: |
AKHPM9725B |
|
|
|
|
Name : |
Mr. Pradosh Kumar Radhamohan Mohapatra |
|
Designation : |
Manager |
|
Address : |
41, Aishwarya Towers, CST Road, Kalina, Santacruz (East), Mumbai –
400098, Maharashtra, India |
|
Date of Birth/Age : |
05.05.1955 |
|
Experience : |
01.10.2011 |
|
Date of Cessation : |
10.03.2013 |
|
PAN No.: |
AENPM6545B |
|
|
|
|
Name : |
Ashok Jagannath Das |
|
Designation : |
Manager |
|
Address : |
Flat No.1, Shivtirth Co-Operative Housing Society Limited, Madhukar
Kalekar Road, Bandra, Mumbai – 400051, Maharashtra, India |
|
Date of Birth/Age : |
09.08.1956 |
|
Date of Appointment : |
01.10.2013 |
|
PAN No.: |
AACPD4167F |
|
|
|
|
Name : |
Mr. Sandeep Agarwal |
|
Designation : |
Head Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 15.07.2014
|
Names of Shareholders |
No. of Shares |
|
The Federal Bank Limited, India |
189500000 |
|
The Federal Bank Limited, India |
499595 |
|
Ganapathy Kumar Girish Jointly with The Federal Bank Limited, India |
1 |
|
Surendren A Jointly with The Federal Bank Limited, India |
100 |
|
Mohanachandran K R Jointly with The Federal Bank Limited, India |
100 |
|
Srinivasan Tirunelvelu Shyam Jointly with The Federal Bank Limited,
India |
200 |
|
Varghese I K Jointly with The Federal Bank Limited, India |
1 |
|
D Sampath Jointly with The Federal Bank Limited, India |
1 |
|
Ashuthosh Khajuria Jointly with The Federal Bank Limited, India |
1 |
|
Abraham Chacko Jointly with The Federal Bank Limited, India |
1 |
|
|
|
|
Total |
190000000 |
AS ON: 15.07.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Nationalised or other banks |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Providing Gold Loan, Loan Against Property, Home
Loan, Car Loan. |
|
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|
Products/ Services : |
|
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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
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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 : |
NOTE: The above facilities are secured by way of hypothecation on Gold Loan
Receivables. Short term loans has been availed from HDFC bank for a period of 180 days
by way of Ear-marketing of working capital loans. |
|
|
|
|
Auditors : |
|
|
Name : |
Varma and Varma Chartered Accountants |
|
Address : |
303, Gokul Regency, J. B. Nagar, Andheri-East, Mumbai – 400059,
Maharashtra, India |
|
PAN No. : |
AABFV9555E |
|
|
|
|
Holding Company : |
The Federal Bank Limited CIN No.:
L65191KL1931PLC000368 |
CAPITAL STRUCTURE
As on: 15.07.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
190000000 |
Equity Shares |
Rs.10/- each |
Rs.1900.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
190000000 |
Equity Shares |
Rs.10/- each |
Rs.1900.000 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 |
1900.000 |
1900.000 |
1900.000 |
|
(b) Reserves & Surplus |
(6.183) |
22.940 |
(35.653) |
|
(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) |
1893.817 |
1922.940 |
1864.347 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
3.782 |
2.525 |
1.217 |
|
Total Non-current
Liabilities (3) |
3.782 |
2.525 |
1.217 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
1635.103 |
2800.245 |
1596.039 |
|
(b) Trade payables |
38.393 |
47.159 |
26.892 |
|
(c) Other current
liabilities |
207.743 |
44.566 |
55.737 |
|
(d) Short-term
provisions |
27.410 |
117.623 |
26.678 |
|
Total Current
Liabilities (4) |
1908.649 |
3009.593 |
1705.346 |
|
|
|
|
|
|
TOTAL |
3806.248 |
4935.058 |
3570.910 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
96.626 |
124.950 |
106.900 |
|
(ii) Intangible Assets |
18.417 |
21.101 |
2.051 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
24.508 |
|
(iv)
Intangible assets under development |
0.000 |
2.739 |
12.510 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
14.629 |
11.887 |
0.000 |
|
(d) Long-term Loan and Advances |
1102.920 |
88.296 |
56.561 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1232.592 |
248.973 |
202.530 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
6.096 |
7.982 |
10.734 |
|
(d) Cash and cash
equivalents |
70.422 |
106.351 |
82.130 |
|
(e) Short-term loans
and advances |
2495.415 |
4567.869 |
3267.568 |
|
(f) Other current
assets |
1.723 |
3.883 |
7.948 |
|
Total Current Assets |
2573.656 |
4686.085 |
3368.380 |
|
|
|
|
|
|
TOTAL |
3806.248 |
4935.058 |
3570.910 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
686.092 |
881.448 |
375.799 |
|
|
Other Income |
4.182 |
3.353 |
1.091 |
|
|
TOTAL (A) |
690.274 |
884.801 |
376.890 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits expense |
238.866 |
212.379 |
155.957 |
|
|
Other expense |
284.608 |
234.859 |
170.260 |
|
|
TOTAL (B) |
523.474 |
447.238 |
326.217 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
166.800 |
437.563 |
50.673 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
157.385 |
217.877 |
102.776 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
9.415 |
219.686 |
-52.103 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
41.280 |
37.608 |
20.790 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
(31.865) |
182.078 |
(72.893) |
|
|
|
|
|
|
|
Less |
TAX (H) |
(2.742) |
40.898 |
0.853 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
(29.123) |
141.180 |
(73.746) |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
0.000 |
28.200 |
NA |
|
|
Dividend |
0.000 |
70.600 |
NA |
|
|
Tax on Dividend |
0.000 |
12.000 |
NA |
|
|
BALANCE
CARRIED TO THE B/S |
NA |
(15.200) |
NA |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(0.15) |
0.74 |
(1.12) |
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) |
(%) |
(4.22) |
15.96 |
(19.57) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(4.64) |
20.66 |
(19.40) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.84) |
3.70 |
(2.06) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.02) |
0.09 |
(0.04) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.86 |
1.46 |
0.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35 |
1.56 |
1.98 |
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 |
1900.000 |
1900.000 |
1900.000 |
|
Reserves & Surplus |
(35.653) |
22.940 |
(6.183) |
|
Net worth |
1864.347 |
1922.940 |
1893.817 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
1596.039 |
2800.245 |
1635.103 |
|
Total borrowings |
1596.039 |
2800.245 |
1635.103 |
|
Debt/Equity ratio |
0.856 |
1.456 |
0.863 |
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 |
375.799 |
881.448 |
686.092 |
|
|
|
134.553 |
(22.163) |
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 |
375.799 |
881.448 |
686.092 |
|
Profit |
(73.746) |
141.180 |
(29.123) |
|
|
(19.62%) |
16.02% |
(4.24%) |
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 |
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 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10511975 |
16/07/2014 |
250,000,000.00 |
THE KARUR VYSYA BANK
LIMITED |
229 NEW COMMON WEALTH CHS,
LINKING ROAD OPP SHOPP |
C14419089 |
|
2 |
10389807 |
20/11/2012 |
250,000,000.00 |
THE KARUR VYSYA BANK
LIMITED |
CENTRAL LOAN PROCESSING
CELL MUMBAI,, KAMANWALA C |
B63267512 |
|
3 |
10349100 |
29/03/2012 |
500,000,000.00 |
IDBI BANK LIMITED |
224 A MITTAL COURT , A
WING, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B37382561 |
|
4 |
10290646 |
07/09/2013 * |
2,000,000,000.00 |
THE FEDERAL BANK LIMITED |
FEDERAL TOWERSP B NO 103,
ALWAYE, ERANAKULAM, KERALA - 683101, INDIA |
B85936615 |
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
Disputed Income Tax |
9.071 |
0.000 |
|
|
|
|
|
Total |
9.071 |
0.000 |
FIXED ASSETS
TANGIBLE ASSETS
- Leasehold Improvement
- Furniture and Fixture
- Vehicles – Cars
- Office Equipment
- Computers
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.66.81 |
|
|
1 |
Rs.100.36 |
|
Euro |
1 |
Rs.70.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
60 |
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.