MIRA
INFORM REPORT
|
Report No. : |
307598 |
|
Report Date : |
13.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
L AND T HYDROCARBON ENGINEERING LIMITED (w.e.f. 21.05.2013) |
|
|
|
|
Formerly Known
As : |
L AND T TECHNOLOGIES LIMITED |
|
|
|
|
Registered
Office : |
L&T House, Ballard Estate, Mumbai
- 400001, |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
02.04.2009 |
|
|
|
|
Com. Reg. No.: |
11-191426 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 15000.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U11200MH2009PLC191426 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUML07478C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCL5967D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Construction of Petrochemical Plant and Refinery. |
|
|
|
|
No. of Employees
: |
Information Decline by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (68) |
|
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 “Larsen & Toubro Limited”. It is a well-established company having fine track. The rating reflects L&T Hydrocarbon’s improved operational risk profile marked by adequate capital base and financial as well as managerial support that company receives from its parent company. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitment. In view of strong holding company support, the company can be
considered good for normal business dealing at usual trade term 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 |
CRISIL |
|
Rating |
Long term rating = AAA |
|
Rating Explanation |
Highest degree of safety and carry lowest credit risk. |
|
Date |
19.12.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
19.12.2014 |
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
31-03-2014.
INFORMATION DENIED
MANAGEMENT NON
CO-OPERATIVE
CONTECT NO.:
91-22-67050505
LOCATIONS
|
Registered Office / Head Office: |
L&T House, Ballard Estate, Mumbai - 400001, Maharashtra, India |
|
Tel. No.: |
91-22-67050505 / 6177 4200 / 67525656 |
|
Fax No.: |
91-22-67525693 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Service Center: |
Imports Department EPC Block, First Floor, Powai (West) Saki Vihar Road, Mumbai – 400072, Maharashtra, India |
|
Tel. No.: |
91-33-44002301 |
|
|
|
|
Branch 1 : |
Saki-Vihar Road, P.O. Box 8901, Powai, Mumbai-400072, Maharashtra, India |
|
Tel. No.: |
91-22-67050505 |
|
|
|
|
Branch 2 : |
Knowlege City', N.H. No.8, Vadodara-390019, Gujarat, India. |
|
Tel. No.: |
91-265-2451000/4000/6000 |
Note: The Regional office shifted from Engineering
Construction and Contracts Division (M&M Bu), Duck Back House, 5th
Floor, 41 Shakespeare Sarani, Kolkata – 700017, West Bengal, India to 11th,
12th, 13th Floor, Godrej Water Site Building, Salt Lake
City, Sector – 5, Kolkata – 700091, West Bengal, India
DIRECTORS
As on: 12.08.2014
|
|
|
|
Name : |
Mr. Krishnamurthi Venkataramanan |
|
Designation : |
Managing director |
|
Address : |
Varsha, Flat No.401, Janki Kutir, Juhu, Mumbai – 400049, Maharashtra,
India |
|
Date of Birth/Age : |
11.12.1944 |
|
Date of Appointment : |
06.02.2014 |
|
DIN No.: |
00001647 |
|
|
|
|
Name : |
Mr. Ramamurthi Shankar Raman |
|
Designation : |
Director |
|
Address : |
Room No. 123, 12th Floor, Kalpataru Royale, Plot No.110, Road No. 29,
Sion (East), Mumbai – 400022, Maharashtra, India |
|
Date of Birth/Age : |
20.12.1958 |
|
Date of Appointment : |
22.08.2013 |
|
DIN No.: |
00019798 |
|
Name : |
Udayan Dasgupta |
|
Designation : |
Whole-time director |
|
Address : |
Flat No. 602, Verona, Hiranandani Gardens, Powai, Mumbai – 400 076, Maharashtra, India |
|
Date of Birth/Age : |
07.11.1950 |
|
Date of Appointment : |
06.02.2014 |
|
DIN No.: |
00129114 |
|
|
|
|
Name : |
Ravindranath Kundurti |
|
Designation : |
Whole-time director |
|
Address : |
Flat No. 301, Solitaire Building, Hiranandani Gardens, Powai, MUMBAI – 400 076, Maharashtra, India |
|
Date of Birth/Age : |
22.08.1950 |
|
Date of Appointment : |
06.02.2014 |
|
DIN No.: |
00262462 |
|
|
|
|
Name : |
Vikram Singh Mehta |
|
Designation : |
Director |
|
Address : |
18, Friends Colony West, New Delhi – 110 065, India |
|
Date of Birth/Age : |
30.10.1952 |
|
Date of Appointment : |
12.08.2014 |
|
DIN No.: |
00041197 |
|
|
|
|
Name : |
Ashok Kumar Balyan |
|
Designation : |
Director |
|
Address : |
Flat No. 104, First Floor, Royale Retreat Ii, Charmswood Village, Surajkund Ncr, 121 009 |
|
Date of Birth/Age : |
02.07.1951 |
|
Date of Appointment : |
12.08.2014 |
|
DIN No.: |
00793181 |
|
|
|
|
Name : |
Sarthak Behuria |
|
Designation : |
Director |
|
Address : |
B‐44, The Icon, DLF City Phase V, Gurgaon – 122 009, Haryana, India |
|
Date of Birth/Age : |
02.03.1952 |
|
Date of Appointment : |
12.08.2014 |
|
DIN No.: |
03290288 |
|
Name : |
Hariharan Narayanaswamy |
|
Designation : |
Director |
|
Address : |
1505/1506, Sparkle City of Joy, Station Road Mulund, Mumbai‐400080, Maharashtra, India |
|
Date of Birth/Age : |
08.12.1952 |
|
Date of Appointment : |
22.08.2013 |
|
DIN No.: |
00001668 |
KEY EXECUTIVES
|
Name : |
P S KAPOOR |
|
Designation : |
Secretary |
|
Address : |
Flat No. 402, Manohar Park Apartment, Mahatma Phule Cross Road, Vile Parle (East), Mumbai ‐ 400 057, Maharashtra, India |
|
Date of Birth/Age : |
26.03.1959 |
|
Date of Appointment : |
06.02.2014 |
|
PAN No.: |
AEYPK0093D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 12.08.2014
|
Names of Shareholders [Equity Shars] |
|
No. of Shares |
|
Larsen and Toubro Limited |
|
1000049994 |
|
Subhodh Shetty jointly With Larsen and Toubro Limited |
|
1 |
|
Ramamurthi Shankar Raman Jointly With Larsen and Toubro Limited |
|
1 |
|
Narayanaswamy Hariharan Jointly With Larsen and Toubro Limited |
|
1 |
|
Ramaswamy Govindan Jointly With Larsen and Toubro Limited |
|
1 |
|
Prasad Vishnu Shanbhag Jointly With Larsen and Toubro Limited |
|
1 |
|
Y.V.S. Sravankumar Jointly With Larsen and Toubro Limited |
|
1 |
|
|
|
|
|
Total |
|
1000050000 |
|
Names of
Shareholders [Preference Shares] |
|
No. of Shares |
|
Larsen and Toubro Limited |
|
50,00,00,000 |
|
|
|
|
|
Total |
|
50,00,00,000 |
Equity Share Break up (Percentage of Total Equity)
As on: 12.08.2014
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
99.99 |
|
Other top fifty |
|
0.01 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Construction of Petrochemical Plant and Refinery. |
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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 Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
Not Available |
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Customers : |
Not Available |
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No. of Employees : |
Not Available |
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Bankers : |
Kotak Mahindra Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Sharp and Tannan Chartered Accountant |
|
Address : |
Ravindra Annexe, 194, Churchgate Reclamation, Dinshaw Vachha Road, Mumbai – 400020, Maharashtra, India |
|
PAN No.: |
AAAFS2967E |
|
|
|
|
Holding company : |
· LARSEN AND TOUBRO LIMITED CIN No.: L99999MH1946PLC004768 |
|
|
·
|
|
Fellow Subsidiary company
: |
· L&T Valves Limited U74999MH1961PLC012188 · L&T - Gulf Private Limited U74140MH2008PTC177765 · L&T Sapura Shipping Private Limited U61100TN2010PTC077217 · LANDT-Valdel Engineering Limited U74210KA2004PLC035094 · Ewac Alloys Limited U74999MH1962PLC012315 · L&T-Sargent & Lundy Limited U74210MH1995PLC088099 · L&T Special Steels and Heavy Forgings Private Limited U27109MH2009PTC193699 · L&T Sapura Offshore Private Limited U11200TN2010PTC077214 · Larsen & Toubro Electromech LLC · L&T Modular Fabrication Yard LLC · Larsen & Toubro Kuwait Construction General Contracting Company, WLL · Larsen & Toubro Heavy Engineering LLC · Larsen & Toubro International FZE · Larsen Toubro Arabia LLC · Larsen & Toubro Atco Saudi LLC · L&T Electrical and Automation FZE · L&T Shipbuilding Limited · L&T- MHPS Boilers Private Limited · Larsen & Toubro Saudi Arabia LLC · L&T - MHPS Turbine Generators Private Limited · Larsen & Toubro Infotech Limited · L&T Hydrocarbon International LLC · L&T Howden Private Limited · Larsen and Toubro (East Asia) SDN.BHD · L&T Geostructure LLP · L&T FinCorp Limited · PT TAMCO Indonesia · TAMCO Switchgear (Malaysia) SDN BHD |
CAPITAL STRUCTURE
As on: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 20000.000 Million |
|
1,000,000,000 |
Preference shares |
Rs.10/- each |
Rs. 10000.000 Million |
|
|
Total |
|
Rs. 30000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,050,000 |
Equity Shares |
Rs.10/- each |
Rs. 10000.500 Million |
|
500,000,000 |
Preference shares |
Rs.10/- each |
Rs. 5000.000 Million |
|
|
Total |
|
Rs. 15000.500
Million |
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 |
15000.500 |
0.500 |
0.500 |
|
(b) Reserves & Surplus |
(194.100) |
(0.100) |
(0.058) |
|
(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) |
14806.400 |
0.400 |
0.442 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2600.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
359.300 |
0.000 |
0.000 |
|
(d) long-term provisions |
109.300 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
3068.600 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
7868.100 |
0.000 |
0.000 |
|
(b) Trade payables |
27088.900 |
0.100 |
0.058 |
|
(c) Other current liabilities |
9069.900 |
0.000 |
0.000 |
|
(d) Short-term provisions |
837.100 |
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
44864.000 |
0.100 |
0.058 |
|
|
|
|
|
|
TOTAL |
62739.000 |
0.500 |
0.500 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
9176.000 |
0.000 |
0.000 |
|
(ii) Intangible Assets |
19.800 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
251.300 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
169.700 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1081.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
10697.800 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
210.300 |
0.000 |
0.000 |
|
(c) Trade receivables |
21746.600 |
0.000 |
0.000 |
|
(d) Cash and cash equivalents |
1871.100 |
0.500 |
0.500 |
|
(e) Short-term loans and advances |
7269.100 |
0.000 |
0.000 |
|
(f) Other current assets |
20944.100 |
0.000 |
0.000 |
|
Total Current Assets |
52041.200 |
0.500 |
0.500 |
|
|
|
|
|
|
TOTAL |
62739.000 |
0.500 |
0.500 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
87159.000 |
0.000 |
0.000 |
|
|
Other Income |
8.900 |
0.000 |
0.000 |
|
|
TOTAL |
87167.900 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
31819.900 |
0.000 |
|
|
|
Purchases of
Stock-in-Trade |
0.000 |
0.000 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
267.500 |
0.000 |
|
|
|
Employees benefits
expense |
6548.400 |
0.000 |
|
|
|
Other expenses |
45473.700 |
0.000 |
|
|
|
TOTAL |
84109.500 |
0.000 |
NA |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
3058.400 |
0.000 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
419.600 |
0.000 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION |
2638.800 |
0.000 |
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1000.500 |
0.000 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
1638.300 |
0.000 |
(0.013) |
|
|
|
|
|
|
|
Less |
TAX |
581.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
1057.300 |
0.000 |
(0.013) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
0.97 |
0.00 |
(0.28) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
1.21 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.51 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.63 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.71 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.16 |
5.00 |
8.62 |
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 |
0.500 |
0.500 |
15000.500 |
|
Reserves & Surplus |
(0.058) |
(0.100) |
(194.100) |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
0.442 |
0.400 |
14806.400 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
2600.000 |
|
Short term borrowings |
0.000 |
0.000 |
7868.100 |
|
Total borrowings |
0.000 |
0.000 |
10468.100 |
|
Debt/Equity ratio |
0.000 |
0.000 |
0.707 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: 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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
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 |
Note: No Charges Exist for Company
UNSECURED LOAN
|
Particulars |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from others |
260.000 |
0.000 |
|
Short-term
borrowings |
|
|
|
Loans and advances from others |
3397.000 |
0.000 |
|
Other loans and advances, others |
1722.500 |
0.000 |
|
Total |
5379.500 |
0.000 |
YEAR IN RETROSPECT
The gross sales for the financial year were Rs. 87370.3 Millions. The Profit before tax was Rs. 1638.3 Millions and the Profit after tax was Rs. 1057.3 Millions for the financial year. The profitability of the Company was adversely affected by cost over-runs in certain tightly bid international projects. Most of these projects were first of its kind with respect to size & scale, technical complexity, customer expectations and situated in remote geographic locations.
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. 60.95 |
|
|
1 |
Rs. 99.32 |
|
Euro |
1 |
Rs. 78.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
PAT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
68 |
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.