MIRA INFORM REPORT
|
Report No. : |
307309 |
|
Report Date : |
11.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
GOA SHIPYARD
LIMITED |
|
|
|
|
Registered
Office : |
Vasco Da Gama, Goa - 403802 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
29.09.1967 |
|
|
|
|
Com. Reg. No.: |
24-000077 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.291.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63032GA1967GOI000077 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRG03202D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG7569F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Shipbuilders, Ship Repairs and Engineers. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
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 leading ISO 9001-2008 certified shipyard on the West
Coast of India, functioning under the administrative control of Ministry of
Defence, Government of India. It is an established company having
satisfactory track record. The company has incurred loss from its operational activities during
2014. However, the rating takes into consideration strong financial as well
as managerial support that company receives from government of India. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 |
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Zha |
|
Designation : |
Account Manager |
|
Contact No.: |
91-832-2512152 |
|
Date : |
09.02.2015 |
LOCATIONS
|
Registered Office : |
Vasco Da Gama, Goa – 403802, India |
|
Tel. No.: |
91-832-2512152 (5 Lines)/ 2513954/ 2512359/ 2513943/ 2514083 |
|
Fax No.: |
91-832-2513870/ 2513943/ 2513260/ 2512148/ 2514232 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Rented |
|
|
|
|
Mumbai Office: |
Mazagon Dock Limited, Dockyard Road, Mumbai – 400010, Maharashtra,
India |
|
Tel. No.: |
91-22-23738321/ 23738747/ 23738749 |
|
Fax No.: |
91-22-23738140 |
|
E-Mail : |
|
|
Location : |
Rented |
|
|
|
|
Delhi Office/ Unit : |
‘H’ Block, Defence Headquarters, DHQ Post Office, New Delhi-110011,
India |
|
Tel. No.: |
91-11-23015681 |
|
Fax No.: |
91-11-23792311 |
DIRECTORS
As on 25.09.2014
|
Name : |
Mr. Rangila Choudhary |
|
Designation : |
Whole Time Director |
|
Address : |
131 A Duplex Bunglow Rangavi Estate, |
|
Date of Birth/Age : |
01.03.1955 |
|
Date of Appointment : |
19.01.2009 |
|
DIN No.: |
02554804 |
|
|
|
|
Name : |
Mr. Prem Kumar Kataria |
|
Designation : |
Director |
|
Address : |
8205 Sector B-IX, Vasant Kunj, New Delhi-11070, |
|
Date of Birth/Age : |
01.05.1960 |
|
Date of Appointment : |
12.07.2010 |
|
DIN No.: |
03175921 |
|
|
|
|
Name : |
Mr. Prabhatkumar Suryakant Shrivastava |
|
Designation : |
Director |
|
Address : |
D-1/1 GSL Officers Residential Enclave, Airport Road, Chicalim-403711,
Goa, India |
|
Date of Birth/Age : |
11.05.1956 |
|
Date of Appointment : |
28.04.2011 |
|
DIN No.: |
03510161 |
|
|
|
|
Name : |
Mr. Sanjiv Sharma |
|
Designation : |
Whole-Time Director |
|
Address : |
D2/1 GSL Officers Residential Enclave, Airport Road, Chicalim – 403711, Goa, India |
|
Date of Birth/Age : |
04.10.1959 |
|
Date of Appointment : |
01.08.2012 |
|
DIN No.: |
05328027 |
|
|
|
|
Name : |
Mr. Rakesh Kumar Agrawal |
|
Designation : |
Director |
|
Address : |
C-1/3D-2, Model Town, Delhi – 110009, India |
|
Date of Birth/Age : |
13.09.1952 |
|
Date of Appointment : |
26.10.2012 |
|
DIN No.: |
00127020 |
|
|
|
|
Name : |
Mr. Anurag Gopalan Thapliyal |
|
Designation : |
Director |
|
Address : |
5, Type VIII Tyagraj Marg, Near Sena Bhawan, New Delhi – 110011, India |
|
Date of Birth/Age : |
17.01.1955 |
|
Date of Appointment : |
06.08.2013 |
|
DIN No.: |
06675249 |
|
|
|
|
Name : |
Mr. Ashok Nayak |
|
Designation : |
Director |
|
Address : |
106, 10th Cross Indiranagar, 1st Stage,
Rangalore – 560038, Karnataka, India |
|
Date of Birth/Age : |
24.10.1951 |
|
Date of Appointment : |
23.07.2014 |
|
DIN No.: |
01621890 |
KEY EXECUTIVES
|
Name : |
Mr. Ramchandra Chimanshet Asukar |
|
Designation : |
Secretary |
|
Address : |
S-2n, Prime Monarch, Near Vidya Mandir School, Airport Road, Adarsh
Nagar, Chicalim-603711, Goa, India |
|
Date of Birth/Age : |
01.01.1957 |
|
Date of Appointment : |
17.06.1991 |
|
Pan No.: |
ACHPA5931H |
MAJOR SHAREHOLDERS
As on 25.09.2014
SHAREHOLDING DETAILS FILE ATTACHED
As on 25.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Government
(Central and State) |
51.09 |
|
Government
companies |
47.21 |
|
Bodies corporate |
1.17 |
|
Other top fifty shareholders |
0.50 |
|
Others |
0.03 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Shipbuilders, Ship Repairs and Engineers. |
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Products : |
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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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|
||||||
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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 : |
Not Divulged |
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|
||||||||||||
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Bankers : |
Stat Bank of India, SBI Commercial Branch, Vasco Da Gama, Goa –
403802, India |
||||||||||||
|
|
|
|
Auditors : |
|
|
Name : |
Deshpande Pandit and Company Chartered Accountant |
|
Address : |
1640, Balakrishna Plaza,Ansurkar Galli, Belgaum - 590002 |
|
PAN No.: |
AAAFD9533F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 25.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs. 400.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29100937 |
Equity Shares |
Rs.10/- each |
Rs. 291.008
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
291.000 |
291.000 |
291.000 |
|
(b) Reserves & Surplus |
5552.700 |
6114.300 |
6027.300 |
|
(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) |
5843.700 |
6405.300 |
6318.300 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
265.900 |
172.800 |
112.900 |
|
(b) Deferred tax liabilities
(Net) |
298.500 |
315.500 |
255.800 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
73.300 |
71.500 |
61.400 |
|
Total
Non-current Liabilities (3) |
637.700 |
559.800 |
430.100 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
349.500 |
572.300 |
673.000 |
|
(c) Other current liabilities |
8140.300 |
8066.400 |
8028.200 |
|
(d) Short-term provisions |
231.900 |
189.700 |
290.500 |
|
Total
Current Liabilities (4) |
8721.700 |
8828.400 |
8991.700 |
|
|
|
|
|
|
TOTAL |
15203.100 |
15793.500 |
15740.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3242.200 |
3378.900 |
3374.100 |
|
(ii) Intangible Assets |
0.600 |
1.300 |
0.000 |
|
(iii) Capital work-in-progress |
1042.300 |
134.800 |
724.200 |
|
(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 |
1052.900 |
773.500 |
502.700 |
|
(e) Other Non-current assets |
22.800 |
18.800 |
23.600 |
|
Total
Non-Current Assets |
5360.800 |
4307.300 |
4624.600 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3242.800 |
4359.400 |
3559.700 |
|
(c) Trade receivables |
1413.200 |
1481.100 |
1372.400 |
|
(d) Cash and cash equivalents |
4096.500 |
4706.600 |
4921.200 |
|
(e) Short-term loans and
advances |
1089.800 |
939.100 |
1262.200 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
9842.300 |
11486.200 |
11115.500 |
|
|
|
|
|
|
TOTAL |
15203.100 |
15793.500 |
15740.100 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
11679.500 |
8462.100 |
2748.800 |
|
|
Other Income |
408.900 |
555.200 |
412.600 |
|
|
TOTAL
(A) |
12088.400 |
9017.300 |
3161.400 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
3040.100 |
2979.400 |
3621.800 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
6563.200 |
3375.100 |
-4067.400 |
|
|
Employees benefits expense |
1197.400 |
1205.400 |
1106.500 |
|
|
Other expenses |
1538.700 |
772.100 |
906.800 |
|
|
TOTAL
(B) |
12339.400 |
8332.000 |
1567.700 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(251.000) |
685.300 |
1593.700 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
204.200 |
242.200 |
170.600 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(455.200) |
443.100 |
1423.100 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
172.700 |
181.700 |
162.800 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(627.900) |
261.200 |
1260.300 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
(17.000) |
106.200 |
432.700 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
(610.900) |
155.000 |
827.600 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
(610.300) |
72.500 |
627.500 |
|
|
Dividend |
0.000 |
58.200 |
171.700 |
|
|
Tax on Dividend |
0.000 |
9.900 |
28.500 |
|
|
Total
(M) |
(610.300) |
140.600 |
827.700 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
827.700 |
3.400 |
3.000 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(21.00) |
5.00 |
29.00 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(5.23) |
1.83 |
30.11 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
(2.15) |
8.10 |
57.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.43) |
1.67 |
8.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.11) |
0.04 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.05 |
0.03 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13 |
1.30 |
1.24 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
291.000 |
291.000 |
291.000 |
|
Reserves & Surplus |
6027.300 |
6114.300 |
5552.700 |
|
Net
worth |
6318.300 |
6405.300 |
5843.700 |
|
|
|
|
|
|
long-term borrowings |
112.900 |
172.800 |
265.900 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
112.900 |
172.800 |
265.900 |
|
Debt/Equity
ratio |
0.018 |
0.027 |
0.046 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2748.800 |
8462.100 |
11679.500 |
|
|
|
207.847 |
38.021 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2748.800 |
8462.100 |
11679.500 |
|
Profit |
827.600 |
155.000 |
(610.900) |
|
|
30.11% |
1.83% |
(5.23%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT: NOT AVAILABLE
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
LITIGATIONS DETAILS
HIGH COURT OF BOMBAY AT GOA
|
Reg. No. :- AAR/14/2014 Stamp No. :- STM / 3284 / 2013 |
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|
||||
|
Case Status : |
Pending (Pre-Admitted) |
||||
|
Petitioner : |
M/S SHOFT SHIPYARD PVT LTD. THR. ITS. MR. M. SUDERSHAN S.G. |
||||
|
Respondent : |
GOA SHIPYARD LIMITED A GOVT. OF INDIA |
||||
|
Petitoner
Adv. : |
ADV. PAI NIKHIL DEELIP |
||||
|
Respondent
Adv. : |
ADV. PAVITHRAN A.V FOR RESPONDENT |
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|
District : |
North Goa |
||||
|
Bench : |
Single |
||||
|
Act : |
ARBITRATION AND CONCILIATION ACT, 1996 |
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Category : |
ARBITRATION ACT. |
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Hearing Date : |
20 February 2015 |
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Case
Stage : |
FOR ADMISSION - AFTER NOTICE |
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This Case is updated on : 10 February 2015 |
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UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Deferred Payment Liabilities |
265.900 |
172.800 |
|
|
|
|
|
Total |
265.900 |
172.800 |
FINANCIAL RESULTS
The year 2013-14 company suffered a loss of Rs. 610.900 Millions as against net profit of Rs. 155.000 Millions in the previous year. This was mainly due to one time liabilities on project concluded/delivered prior to FY 2013-14. The company has taken up the issues of waiver of LDs and reimbursement of additional project expenditure on account of warranty extension amounting to about Rs. 591.800 Millions with the customer/Ministry in terms of the contract and is hopeful of recovery of the same and posting profits from current year onwards.
MANAGEMENT DISCUSSION AND ANALYSIS
Industry structure and developments, strengths, weaknesses, opportunities and threats, major initiatives undertaken and planned to ensure sustained performance and growth:
The Company is predominantly in the defence shipbuilding segment. The Company has gained sufficient expertise in medium size ships, required by Indian Navy and Indian Coast Guard in particular and generally enjoys good reputation for ships that it has built. GSL is operating in a highly competitive environment across all its product segments. Despite competition from International and Indian Shipyards in Public and Private sector, the Company continues to make efforts and has been successful to some extent in securing shipbuilding/ship repair orders at domestic and international level and maintaining the growth momentum. India has a vast coastline, but shortage of deep draft water space along the coast restricts the type and size of ships that can be built or repaired in India, thereby curbing the full growth potential of the Indian shipbuilding and repair market. High input costs and rising costs of raw material, freight together with miscellaneous duties and taxes being imposed amounts to a huge price differential in building a ship in India. Besides, though the costs of labour in India is low compared to that in other nations but shipbuilding being a labour-intensive industry, fulfilling the requirement of skilled workforce is another significant problem being faced by the shipbuilding companies. The Government is facilitating improvements in port and infrastructure facilities and easing regulations and taxes to assist the industry in addressing the challenges and overcoming its barriers. Govt. of India has also announced amendments to Defence Procurement Policy (DPP) to encourage the Indian Defence Industry. One of the highlights of the Policy is prioritization of various categories for a capital acquisition with first order of preference is under Buy (Indian). This important policy change, inter alia, is expected to give impetus to the Indian Defence shipbuilding industry.
Corporate Social
Responsibility
The Company has been a vital part of the Goan industrial landscape, integrating seamlessly into the community, generating employment and business opportunities for the local populace and providing the necessary impetus for Goas industrial growth. It has encouraged the growth of ancillary units and vendor networks, establishing in the process a benchmark of proficiency, excellence and a spirit of entrepreneurship. The company has been conscious of its Corporate Social Responsibility. It constantly strived to foray beyond the economic activities by reaching out to active participation in the social development of the community. Over the years it has shaped a range of broad objectives in the social domain encompassing a charter of activities to foster community development. Besides extending humanitarian services in the community, the Company basically seeks to enhance the quality of life of the people of Goa.
The Company has been supporting villages and communities in the vicinity of its location at Vasco-da-Gama for several years. The nature of support and engagement with the society was largely based on the immediate need felt across sections of the society. In order to strengthen the CSR initiative based on systematic and scientific approach, a Memorandum of Agreement (MoA) was entered into with Tata Institute of Social Sciences (TISS) for conducting baseline survey and need assessment in accordance with the DPE Guidelines. Based on the findings of base line survey and recommendations made by TISS, projects with medium and long term duration have been identified for execution under CSR through specialized agencies/NGOs. The details of major projects under execution are construction of Skill Development Centre in South Goa for Shipbuilding Trade, Dairy Co-operative in Pernem Taluka, Agri Co-operative in Canacona Taluka, Launch of Mobile Health Centre for Quepem taluka and adjoining areas, Development of Water shed Management Project in Padi and Bali village and Special CSR activities in Non-project mode. All these projects are aimed at increasing livelihood opportunities in the region, nurturing agriculture and allied activities, enhancing entrepreneurship skills, empowering community, impart employability skill, health awareness and sustainabilitydevelopment, etc.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90076382 |
23/12/2010 * |
3,500,000,000.00 |
SBI CONSORTIUM BANKS VIZ SBI COM BR BANK OF MAHARA |
VASCO DA GAMA, VASCO DA GAMA, GOA - 403802, INDIA |
B03220555 |
* Date of charge modification
FIXED ASSETS
·
·
· Building and Other Civil Constructions
· Plant and Machinery
· Slipways
· Fittin Out Jetty
· Capital Dradging
· Furniture, Fittings and Office Equipments
·
Motor Cars and Vehicles
·
Steam Launches and Boats
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.61.96 |
|
|
1 |
Rs.94.41 |
|
Euro |
1 |
Rs.70.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ART |
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 |
- |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.