MIRA INFORM REPORT
|
Report No. : |
309292 |
|
Report Date : |
26.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
ASSIGNIA INFRAESTRUCTURAS S. A. |
|
|
|
|
Project
Office : |
417- 419, 4th Floor, |
|
|
|
|
Country : |
India |
|
|
|
|
Date of
Incorporation : |
01.08.2012 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 56.346 Million |
|
|
|
|
FCRN : |
F04429 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Foreign Registered Company |
|
|
|
|
Line of Business
: |
Construction Activity |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Project office of a foreign registered company |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a project office of a foreign registered company. Ms. Rolita Chartered Accountant denied to part any information about
the subject. However, trade relations are reported to be improving. Business is
active as per the status shown in the register maintained with the Registrar
of Companies. Payment terms are unknown. In view of support from its parent company, the subject can be considered
for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
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 : |
MS. Rolita |
|
Designation : |
Chartered Accountant |
|
Contact No.: |
91-11-25761916 |
|
Date : |
23.02.2015 |
LOCATIONS
|
Registered
Office : |
Located At : Spain |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
|
|
|
Project Office : |
417- 419, 4th Floor, Ansal Tower, Nehru Place, New Delhi – 110019, India |
|
Tel. No.: |
91-11-25761916 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
Avda Quitapesares n 11, Poligono Empresarial Villapark 28670 Villaviciosa de Odónn (Madrid) Spain |
|
Tel. No.: |
+34 915 672 870 |
|
Fax No.: |
+34 915 719 628 |
DIRECTORS
|
Name : |
Susana Momje Guiterrez |
|
Designation : |
President and CEO |
|
Address : |
Paseo Ronda 73, 08293, Collbato – Barcelona Spain |
|
Date of Birth/Age : |
14.11.1972 |
|
|
|
|
Name : |
Carlos Velasco De Mingo |
|
Designation : |
Director |
|
Address : |
Crer. Ses Vinyetes, 24 07110 Bunyola – Mallorca, Spain |
|
Date of Birth/Age : |
26.01.1960 |
|
|
|
|
Name : |
Luis Vicente Moro Diaz |
|
Designation : |
Director |
|
Address : |
C/ Condesa De Venadito, 2, 4- Dcha. 28027 Madrid, Spain |
|
Date of Birth/Age : |
10.11.1940 |
|
|
|
|
Name : |
Manuel Lamela Fernandez |
|
Designation : |
Director |
|
Address : |
Glorieta Bilbao, 1 5- Izda. 28002 Madrid, Spain |
|
Date of Birth/Age : |
03.05.1965 |
|
Name : |
Ronald Eugene Baker |
|
Designation : |
Director |
|
Address : |
Gabriela Mistral 8, 12 - F, Madrid, 28035, Madrid, Spain |
|
Date of Birth/Age : |
08.05.1950 |
|
PAN No.: |
AAJCA4519N |
KEY EXECUTIVE
|
Name : |
MS. Rolita |
|
Designation : |
Chartered Accountant |
MAJOR SHAREHOLDERS / SH`AREHOLDING PATTERN
NOT AVAILABLE
BUSINESS DETAILS
|
Line of Business : |
Construction Activity |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
|
|
|
|
Customers : |
Not Divulged |
|
|
|
|
No. of Employees : |
Information declined by the management. |
|
|
|
|
Bankers : |
Deutsche Bank, Kotak House, 222, D. N. Road, Fort, Mumbai - 400001,
Maharashtra, India Tel No. : 91-22-71803000 Fax No. : 91-22-71803860/61 |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
V. V. Kale and Company Chartered Accountants |
|
Address : |
16A/20 W.E.A. Main Ajmal Khan Road, Karol Bagh, New Delhi – 110005,
India |
|
Tel. No.: |
91-11-25761916 / 25712222 / 25722222 / 25732222 |
|
Fax No.: |
91-91-11-25732222 |
|
E-Mail : |
|
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Head Office : |
Assignia Infraestructuras S A |
|
|
|
|
Subsidiary Company : |
Assignia Infrastructure India Private Limited |
|
|
|
|
JV in Head Office is Partner |
Assignia VIL Joint Venture |
CAPITAL STRUCTURE
AS ON 31.03.2014
|
Particulars |
|
Amount [Rs. In Million
] |
|
Opening Balance |
|
114.205 |
|
Add : Remittances received from Head
Office |
|
0.000 |
|
Less : Loss transferred from statement of
Profit and Loss |
|
(14.884) |
|
Less : Remittances to Head Office |
|
(42.975) |
|
|
|
|
|
Total |
|
56.346 |
FINANCIAL DATA
[all figures are
in Rupees Million]
INDIA
PROJECT OFFICE
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Sources of Funds |
|
|
|
|
(a) Head Office |
|
56.346 |
114.205 |
|
(b) Reserves &
Surplus |
|
0.000 |
0.000 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
56.346 |
114.205 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
87.625 |
87.625 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
87.625 |
87.625 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
2.829 |
4.604 |
|
(c) Other current
liabilities |
|
0.010 |
0.004 |
|
(d) Short-term provisions |
|
0.000 |
0.000 |
|
Total Current Liabilities
(4) |
|
2.839 |
4.608 |
|
|
|
|
|
|
TOTAL |
|
146.810 |
206.438 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
0.063 |
0.030 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
124.693 |
25.518 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.069 |
0.100 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
124.825 |
25.648 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
0.000 |
0.000 |
|
(d) Cash and cash
equivalents |
|
15.563 |
77.907 |
|
(e) Short-term loans and
advances |
|
6.422 |
102.883 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
21.985 |
180.790 |
|
|
|
|
|
|
TOTAL |
|
146.810 |
206.438 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
|
0.000 |
0.000 |
|
|
Other Income |
|
0.000 |
0.000 |
|
|
TOTAL |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Administrative and Other
expenses |
|
14.884 |
3.255 |
|
|
TOTAL |
|
14.884 |
3.255 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
|
(14.884) |
(3.255) |
|
|
|
|
|
|
|
Less |
TAX |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
|
(14.884) |
(3.255) |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(67.30) |
(1.80) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.26) |
(0.03) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
7.74 |
39.23 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2013 |
31.03.2014 |
|
|
|
(Rs. In Million) |
(Rs. In Million) |
|
Head Office |
|
114.205 |
56.346 |
|
Reserves & Surplus |
|
0.000 |
0.000 |
|
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Net worth |
|
114.205 |
56.346 |
|
|
|
|
|
|
long-term borrowings |
|
0.000 |
0.000 |
|
Short term borrowings |
|
0.000 |
0.000 |
|
Total borrowings |
|
0.000 |
0.000 |
|
Debt/Equity ratio |
|
0.000 |
0.000 |
LOCAL AGENCY FURTHER INFORMATION
INDEX OF CHARGES : NO
CHARGES EXIST FOR COMPANY
|
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
two years |
Yes |
|
12] |
Profitability for last
two 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 |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
------ |
|
22] |
Litigations that the firm
/ promoter involved in |
------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
------- |
|
26] |
Buyer visit details |
------- |
|
27] |
Financials, if provided |
No |
|
28] |
Incorporation details, if
applicable |
No |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
No |
|
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 |
CMT REPORT (Corruption, Money Laundering and 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.62.05 |
|
|
1 |
Rs.96.03 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE and RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
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 |
|
28 |
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 and 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.