MIRA INFORM REPORT

 

 

Report No. :

355536

Report Date :

23.12.2015

 

 

IDENTIFICATION DETAILS

 

Name :

SCHWING STETTER (INDIA) PRIVATE LIMITED

 

 

Registered Office :

F-71, SIPCOT Industrial Park, Irungattukottai, Sriperumbudur, Kanchipuram – 602105, Tamilnadu

Tel. No.:

91-44-37178301

 

 

Country :

India

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

18.06.1998

 

 

Com. Reg. No.:

18-046270

 

 

Capital Investment / Paid-up Capital :

Rs.240.945 Million

 

 

CIN No.:

[Company Identification No.]

U45309TN1998PTC046270

 

 

IEC No.:

0398070385

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CHES20172F

 

 

PAN No.:

[Permanent Account No.]

AADCS5069D

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in the business of manufacturing and marketing of ready-mix concrete handling machinery and related spares and services. [Registered Activity]

 

 

No. of Employees :

Information declined by the management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (48)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Exist

 

 

Comments :

Subject is a subsidiary of “SCHWING GmbH” Germany. It is established company having satisfactory track record.

 

The rating reflect company’s strong brand and established market position in the ready-mix concrete (RMC)-handling equipment segment. The ratings also factor in the technology and product support that company receives from its parent, Schwing GmbH (Schwing), a global leader in the RMC-handling equipment sector.

 

However, this rating strength is partially offset by company’s modest, though improving, financial risk profile, its exposure to intense competition in the domestic RMC segment, and the segment’s vulnerability to business cycles.

 

Trade relations are reported to be fair. Business is active. Payments are reported to be usually correct.

 

In view of aforesaid, the company can be considered for business dealings with usual trade term and conditions.

 

NOTE:

Management of the company has not filed its financial with the government department for the year 2015.

 

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

CRISIL

Rating

Long term bank facilities= BBB+

Rating Explanation

Moderate degree of safety and moderate credit risk.

Date

13.05.2015

 

 

Rating Agency Name

CRISIL

Rating

Short term bank facilities= A2

Rating Explanation

Strong degree of safety and low credit risk.

Date

13.05.2015

 

 

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 DENIED BY

 

Name :

Mr. Sethuram

Designation :

Head of Finance

Contact No.:

91-44-37178301

Date :

17.12.2015

 

 

LOCATIONS

 

Registered / Corporate Office  / Factory :

F-71, SIPCOT Industrial Park, Irungattukottai, Sriperumbudur, Kanchipuram - 602105, Tamilnadu, India

Tel. No.:

91-44-37178301 / 27156780/1, 27156537/8, 47108100, 37178100 

Fax No.:

91-44-37178319 /  27156539

E-Mail :

ars.manian@schwingstetterindia.com

chennai@schwingstetterindia.com

schwing@vsnl.com

info@schwingstetterindia.com

Website :

www.schwingstetterindia.com

Location:

Owned

 

 

Branch Offices :

103, Shivalik Arcade, 100 Ft. T.P Anand Nagar Satellite Road,
Opposite Auda Prahlad Nagar Garden Satellite , Ahmedabad – 380051, Gujarat, India

 

Tel. No.: 91-79-33555588

Fax No.: 9179-4006 4084

 

Also Located At:

 

·         Mumbai

·         Bangalore

·         Hyderabad

·         Chandigarh

·         Pune

·         New Delhi

·         Ahmedabad

·         Cochin

·         Kolkata

 

 

Service Centers :

Located At:

 

·         Chennai

·         New Delhi

·         Mumbai

·         Ahmedabad

·         Hyderabad

·         Pune

·         Kolkata

 

 

DIRECTORS

 

AS ON 22.04.2015

 

Name :

Mr. Ananthanarayan  Sundaresan

Designation :

Managing Director

Address :

Flat No. D-2, Block II, Mangolia Park, Five Furlong Road, Guindy, Chennai-600032, Tamilnadu, India

Date of Birth/Age :

24.05.1957

Date of Appointment :

06.01.2002

PAN No.:

ADEPA3158J

DIN No.:

01028552

 

 

Name :

Mr. Gunther Abolins

Designation :

Director

Address :

Raupolzer Weg 22A, Bad Gornenbach, Germany – 87730

Date of Birth/Age :

01.11.1950

Date of Appointment :

27.06.2008

DIN No.:

02330188

 

 

Name :

Mr. Angarai Raghavan Subramanian

Designation :

Executive Director (Finance)

Address :

Flat P2, Ragavilla No.15, Jagadambal Colony, I, Street Royapettah, Chennai-600014, Tamilnadu, India

Date of Birth/Age :

18.08.1958

Qualification:

FCA, FCS,

Date of Appointment :

28.06.2013

DIN No.:

01544903

 

 

Name :

Mr. Sakthikumar Velayutham Govindarajan

Designation :

Whole Time Director

Address :

Ceebros Boulevard, FL 511, 3/381, OMR, Rajiv Gandhi Salai, Thuraipakkam, Chennai – 600097, Tamilnadu, India

Date of Birth/Age :

30.01.1965

Qualification:

B.Tech, MBA,

Date of Appointment :

28.06.2013

DIN No.:

06475756

 

 

Name :

Mr. Sha Xianliang

Designation :

Director

Address :

Suite 701, Unit 3, Building 1, Jinxiujiayuan, Quanshan District, Jiangsu Province, Xuzhou, 221000, China

Date of Appointment :

06.07.2015

DIN No.:

07189484

 

 

Name :

Mr. Wang Yansong

Designation :

Director

Address :

Suite 401, Unit 6, Building 9, No.22, Kuangshan Road, Quanshan District, Jiangsu Province, Xuzhou, 221000, China

Date of Appointment :

06.07.2015

DIN No.:

07189486

 

 

KEY EXECUTIVES

 

Name :

Mr. Angarai Raghavan Subramanian

Designation :

Company Secretary

Address :

Flat P2, Ragavilla No.15, Jagadambal Colony, I, Street Royapettah, Chennai – 600014, Tamilnadu, India

Date of Birth/Age :

18.08.1958

Date of Appointment :

01.07.2003

PAN No.:

AIGPS3888L

 

 

Name :

Mr. Sethuram

Designation :

Head of Finance

 

 

MAJOR SHAREHOLDERS

 

AS ON 22.04.2015

 

Names of Shareholders

 

 

No. of Shares

Schwing GmbH, Germany

 

24094510

Schwing Verwaltungs-UND Beteiligungs GmbH, Germany

 

1

 

 

 

Total

 

24094511

 

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 22.04.2015

 

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]

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in the business of manufacturing and marketing of ready-mix concrete handling machinery and related spares and services. [Registered Activity]

 

 

Products :

Item Code No. (ITC Code)

 

Product Description

84743110

Batching Plant

84743110

Mixer

84134000

Pump

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

 

PRODUCTION STATUS – NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Company Name :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark :

Not Divulged

 

 

Customers :

Company Name :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark :

Not Divulged

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

Banker Name :

Yes Bank Limited

Branch :

9th Floor, Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India

Person Name (With Designation) :

Not Divulged

Contact Number :

Not Divulged

Name of Account Holder :

Not Divulged

Account Number :

Not Divulged

Account Since (Date/Year of Account Opening) :

Not Divulged

Average Balance Maintained :

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan) :

Not Divulged

Account Operation :

Not Divulged

Remark :

Not Divulged

 

·         HDFC Bank Limited, HDFC Bank House,Senapati Bapat Marg, Lower Parel-West, Mumbai - 400013, Maharashtra, India

 

·         Indusind Bank Limited, 2401 Gen Thimmayya Road, Contonment, Pune - 411001, Maharashtra, India

 

·         Indian Overseas Bank, SSI Branch, No.10, G.S.T. Road, Guindy, Chennai - 600032, Tamilnadu, India

 

·         Kotak Mahindra Bank Limited, 27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai - Maharashtra - 400051, India

 

 

 

Facilities :

SECURED LOANS

31.12.2014

Rs. In Million

31.12.2013

Rs. In Million

Long Term Borrowings

 

 

Rupee term loans from banks

69.950

25.914

Foreign currency term loans from banks

187.210

327.525

Long-term maturities of finance lease obligations

9.050

9.171

 

 

 

Short Term Borrowings

 

 

Rupee term loans from banks

1110.000

1150.000

Term loans from others

17.580

527.531

Working capital loans from banks

222.550

92.563

 

 

 

Total

1616.340

2132.704

 

 

Auditors :

 

Name :

BSR and Company

Chartered Accountants

Address :

No. 10, Mahatma Gandhi Road, Nungambakkam, Chennai – 600034, Tamilnadu, India

Tel. No. :

91-44-39145000

Fax No. :

91-44-39145999

PAN No. :

AAAFB9852F

 

 

Memberships :

Not Divulged

 

 

Collaborators :

Not Divulged

 

 

Ultimate Holding Company :

·         XCMG Construction Machinery Co., Limited

 

 

Holding company :

·         Schwing GmbH, Germany

 

 

Wholly owned subsidiary :

·         Schwing Stetter India Trading GMBH

·         Schwing Stetter Sales and Services Private Limited

 

 

Associates / Fellow subsidiaries :

·         Stetter GmbH, Germany

·         Schwing America Inc., USA

·         Schwing Brasilien Equipmentos Industriais Ltda, Brazil

·         Schwing GmbH, Austria

·         Schwing Hydraulik Electronik GmbH, Germany

·         Schwing Project GmbH, Herne

·         Schwing- Stetter S.A France

·         Schwing- Stetter Ges. Austria

·         Schwing- Stetter Ostrava, Czech Republic

·         Schwing- Stetter B.V. Netherlands

·         Schwing- Stetter Skandinav, Sweden

·         Schwing Shanghai Machinery Co Limited Shanghai, China

·         Schwing Stetter Iberica S.L, Spain

·         Schwing GmbH, Dubai

 

 

CAPITAL STRUCTURE

 

AS ON 22.04.2015

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

25000000

Equity Shares

Rs.10/- each

Rs.250.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

24094511

Equity Shares

Rs.10/- each

Rs.240.945 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.12.2014

31.12.2013

31.12.2012

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

240.945

240.945

240.945

(b) Reserves & Surplus

1569.897

1555.777

1703.797

(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)

1810.842

1796.722

1944.742

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

266.210

362.610

465.809

(b) Deferred tax liabilities (Net)

0.000

1.263

0.876

(c) Other long term liabilities

1.460

58.777

68.484

(d) long-term provisions

67.770

0.000

0.000

Total Non-current Liabilities (3)

335.440

422.650

535.169

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

1779.420

2059.423

1868.784

(b) Trade payables

1079.908

1238.715

1156.706

(c) Other current liabilities

565.680

563.041

367.632

(d) Short-term provisions

25.490

24.811

21.666

Total Current Liabilities (4)

3450.498

3885.990

3414.788

 

 

 

 

TOTAL

5596.780

6105.362

5894.699

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

915.260

1009.724

1053.799

(ii) Intangible Assets

95.160

104.842

76.693

(iii) Capital work-in-progress

2.120

5.376

15.510

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

10.660

10.660

19.463

(c) Deferred tax assets (net)

69.720

103.111

19.391

(d)  Long-term Loan and Advances

79.180

174.316

155.483

(e) Other Non-current assets

30.490

18.389

16.083

Total Non-Current Assets

1202.590

1426.418

1356.422

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

2535.450

2841.005

3020.862

(c) Trade receivables

1355.240

1366.858

1038.813

(d) Cash and cash equivalents

95.570

181.065

240.167

(e) Short-term loans and advances

407.690

287.478

238.005

(f) Other current assets

0.240

2.538

0.430

Total Current Assets

4394.190

4678.944

4538.277

 

 

 

 

TOTAL

5596.780

6105.362

5894.699

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.12.2014

31.12.2013

31.12.2012

 

SALES

 

 

 

 

 

Sales excluding excise duty

7336.820

7332.090

7539.550

 

 

Service Income

248.480

243.770

234.050

 

 

Other Income

128.460

73.790

119.300

 

 

TOTAL                                             

7713.760

7649.650

7892.900

 

 

 

 

 

Less

EXPENSES

7470.950

7726.380

7731.300

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

242.810

(76.730)

161.600

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION        

160.610

155.010

113.590

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

82.200

(231.740)

48.010

 

 

 

 

 

Less

TAX                                                                 

68.080

(83.720)

15.270

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

14.120

(148.020)

32.740

 

 

 

 

 

 

Earnings Per Share (Rs.)

(0.59)

(6.14)

1.36

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.12.2014

31.12.2013

31.12.2012

Current Maturities of Long term debt

174.480

152.177

143.037

Net cash flow from (used in) operations

444.220

239.822

688.137

Net cash flows from (used in) operating activities

516.040

235.588

615.753

 

KEY RATIOS

 

PARTICULARS

 

 

31.12.2014

31.12.2013

31.12.2012

Net Profit Margin

PAT / Total Income 

(%)

0.18

(1.93)

0.41

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets)

(%)

1.49

(3.87)

0.82

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.05

(0.13)

0.02

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.23

1.43

1.27

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.27

1.20

1.33

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.12.2012

31.12.2013

31.12.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Share Capital

240.945

240.945

240.945

Reserves & Surplus

1703.797

1555.777

1569.897

Share Application money pending allotment

0.000

0.000

0.000

Net worth

1944.742

1796.722

1810.842

 

 

 

 

long-term borrowings

465.809

362.610

266.210

Short term borrowings

1868.784

2059.423

1779.420

Current Maturities of Long term debt

143.037

152.177

174.480

Total borrowings

2477.630

2574.210

2220.110

Debt/Equity ratio

1.274

1.433

1.226

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.12.2012

31.12.2013

31.12.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Total Income 

7892.900

7649.650

7713.760

 

 

(3.082)

0.838

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.12.2012

31.12.2013

31.12.2014

 

Rs. In Million

Rs. In Million

Rs. In Million

Total Income 

7892.900

7649.650

7713.760

Profit

32.740

(148.020)

14.120

 

0.41%

(1.93%)

0.18%

 

 

 

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

Yes

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

No

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

Yes

33

Market information

--

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

 

LITIGATION DETAILS:

 

 

Madras High Court

Case Status Information System

 

Case Status :

Pending

Status Of :

WRIT APPEAL  1293  Of  2015

Litigants :

THE ASSISTANT COMMISSIONER  Vs.  M/S.SCHWING STETTER (INDIA)

Pet's Adv :

SPL. GOVT. PLEADER (TAXES)

Res's Adv :

CHENNAI

Last Date of Hearing :

---

Next / Final Date of Hearing :

Monday, October 05, 2015

Case Updated On :

Thursday, October 01, 2015

Category :

Tax/Tolls

 

Connected Application(s)

 

MP

1

2015

 

Connected Matter(s)

 

No Connected Cases

 

 

 

COMPANY OVERVIEW

 

Subject, a wholly owned subsidiary of SCHWING GmbH, Germany was incorporated on June 18, 1998. The Company is engaged in the business of manufacturing and marketing of readymix concrete handling machinery and related spares and services. The Company operates predominantly in domestic market.

 

 

PERFORMANCE OF THE COMPANY

 

In the year 2014, the Company recorded an increase of around 1% in turnover, compared to the previous year and achieved a profit before tax of Rs. 82.200 million, as compared to a loss before tax of Rs. 231.700 million in the year 2013.

 

The Company continues to face intensive competition from new players in the field, mainly in the pricing front. However the key factors, viz. quality and service are shielding the Company from the aggression of competition.

 

The Company has started implementing the cost reduction and efficiency improvement initiatives finalized in consultation with M/s. AT Kearney, in the fields of Value Engineering, Long Term Price Validation, Ramp-up of suppliers’ capacity, Inventory reduction, etc. The Company was able to achieve considerable cost savings out this exercise during the year and was able to improve the gross contribution significantly.

 

The Company executed a long term agreement with the Trade Union in February, 2015 under Section 12 (3) of the Industrial Disputes Act, 1947, for a period of three years from April, 2014 to March, 2017.

 

 

FUTURE PROSPECTS

 

The Company is planning to set up a few more Service Centers and Spares Depots during the next year. Construction of service centres at Pune and Ahmedabad have been already budgeted and the Company proposes to purchase land for new service centres in at least three more locations shortly.

 

The Government’s budget proposals have placed immense stress on the infrastructure development and investment on various other projects. It is expected that the Indian construction equipment business will grow at a faster pace and the market demand for the products of the Company will also increase proportionately by latter part of the year 2015.

 

 

UNSECURED LOANS:

 

Particulars

31.12.2014

Rs. In Million

31.12.2013

Rs. In Million

Short Term Borrowings

 

 

Loans repayable on demand from banks

429.290

289.329

 

 

 

Total

429.290

289.329

 

 

 

INDEX OF CHARGE:

 

Sr. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10580304

23/06/2015

175,000,000.00

KOTAK MAHINDRA BANK LIMITED

27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (E),, MUMBAI, MAHARASHTRA - 400051, INDIA

C59092148

2

10562859

20/02/2015

150,000,000.00

HDFC BANK LIMITED

HDFC BANK HOUSE,SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA

C50608413

3

10569143

20/02/2015

206,700,000.00

KOTAK MAHINDRA BANK LIMITED

27BKC, C 27, G BLOCK, BANDRA KURLA COMPLEX, BANDRA (E),, MUMBAI, MAHARASHTRA - 400051, INDIA

C53507323

4

10532427

11/11/2014

500,000,000.00

IDBI TRUSTEESHIP SERVICES LIMITED

17 R KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA

C34356253

5

10544817

11/11/2014

500,000,000.00

IDBI TRUSTEESHIP SERVICES LIMITED

17 R KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA

C41328485

6

10529229

29/08/2014

400,000,000.00

YES BANK LIMITED

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. ANNIE BESANT ROAD, WORLI,, MUMBAI, MAHARASHTRA - 400018, INDIA

C32328007

7

10552070

04/07/2014

150,000,000.00

HDFC BANK LIMITED

HDFC BANK HOUSE,SENAPATI BAPAT MARG, LOWER PAREL W MUMBAI, MUMBAI, MAHARASHTRA - 400013, INDIA

C45086410

8

10289389

16/04/2011

200,000,000.00

INDUSIND BANK LTD.

2401 GEN THIMMAYYA ROAD, CONTONMENT, PUNE, MAHARA 
SHTRA - 411001, INDIA

B13924857

9

10066904

28/11/2014 *

3,030,000,000.00

HDFC BANK LIMITED

HDFC BANK HOUSE,SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA

C40529885

10

10053417

27/05/2015 *

600,000,000.00

HDFC BANK LIMITED

HDFC BANK HOUSE,SENAPATI BAPAT MARG, LOWER PAREL W MUMBAI, MUMBAI, MAHARASHTRA - 400013, INDIA

C66611500

11

90288421

15/05/2013 *

450,000,000.00

KOTAK MAHINDRA BANK LIMITED

CAPITALE, 11TH FLOOR,, 555, ANNA SALAI, TEYNAMPET,, CHENNAI, TAMIL NADU - 600018, INDIA

B77408250

12

90285615

25/06/2011 *

500,000,000.00

IDBI BANK LIMITED

7 CHEVALIER SHIVAJI GANESAN SALAI, T NAGAR, CHENNAI, TAMIL NADU - 600017, INDIA

B16952749

13

90285511

28/01/2013 *

350,000,000.00

ING VYSYA BANK LIMITED

185,ANNA SALAI, NEAR TVS,, CHENNAI, TAMILNADU - 
600006, INDIA

B71351548

14

80036449

24/07/2010 *

380,000,000.00

INDIAN OVERSEAS BANK

SSI BRANCH, NO.10, G.S.T. ROAD, GUINDY, CHENNAI, TAMIL NADU - 600032, INDIA

A91211136

 

*Date of modification Charges

 

 

FIXED ASSETS:

 

·         Land

·         Building

·         Plant and Machinery

·         Furniture and Fixture

·         Office Equipment

·         Computer

·         Vehicles

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.66.30

UK Pound

1

Rs.98.71

Euro

1

Rs.72.33

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

NKT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--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

YES

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

 

 

 

TOTAL

 

48

 

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

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.