MIRA INFORM REPORT
|
Report Date : |
02.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
AYOKI FABRICON PRIVATE LIMITED |
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Registered
Office : |
137 and 139 Akashay Complex, Dhole Patil Road, Pune-411001, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
29.10.1984 |
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Com. Reg. No.: |
11-034410 |
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Capital
Investment / Paid-up Capital : |
Rs.44.780 Millions |
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CIN No.: [Company Identification
No.] |
U27107MH1984PTC034410 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
The company is primarily engaged in the business of Construction /
Project Activities. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Management of the company has not filed its latest financial i.e. 2014
with the government department. As per the available financial of 2013, the borrowings recorded by the
company seems to be increasing. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow but correct. The company 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BB |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
30.10.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A4+ |
|
Rating Explanation |
Minimal degree of safety. It carry very high credit risk. |
|
Date |
30.10.2014 |
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 PARTED BY
|
Name : |
Mr. Rajesh Dave |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-20-26163535 |
|
Date : |
01.01.2015 |
LOCATIONS
|
Registered Office : |
137 and 139 Akashay Complex, Dhole Patil Road, Pune-411001,
Maharashtra, India |
|
Tel. No.: |
91-20-26163535/26161514 |
|
Fax No.: |
91-20-26166510 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Ganesh Kumar Sukumaran Nair |
|
Designation : |
Director |
|
Address : |
A/12, Jagram Complex, Dhanori Road, Vishrantwadi, Pune-411015,
Maharashtra, India |
|
Date of Birth/Age : |
30.05.1959 |
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Date of Appointment : |
16.08.1986 |
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Din No.: |
00104991 |
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|
Name : |
Mr. Krishnankutti Panhan Kottakalam |
|
Designation : |
Director |
|
Address : |
A/12, Jagram Complex, Dhanori Road, Vishrantwadi, Pune-411015,
Maharashtra, India |
|
Date of Birth/Age : |
02.06.1955 |
|
Date of Appointment : |
30.12.1987 |
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Din No.: |
00105053 |
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|
|
|
Name : |
Mr. Rummy Rupchand Kishnani |
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Designation : |
Director |
|
Address : |
Building 1, Flat No. 13, Laxminarayan Co-operative Housing Society, Erandwani,
Pune-411004, Maharashtra, India |
|
Date of Birth/Age : |
26.04.1948 |
|
Date of Appointment : |
01.04.2008 |
|
Din No.: |
02305054 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh Dave |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Ganesh Kumar Sukumaran Nair |
|
40311 |
|
Krishnankutti Panhan Kottakalam |
|
39720 |
|
M.S. Jayshree |
|
33981 |
|
K. Sujatha |
|
48792 |
|
Sanooj K Kutty |
|
19104 |
|
Sabarinath Velayudhan Nair |
|
89319 |
|
Sajeesh K |
|
42519 |
|
K Sanal |
|
26304 |
|
Chaitanya Ganesh Kumar Nair |
|
68973 |
|
Namita Sanooj K |
|
38778 |
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|
|
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TOTAL
|
|
447801 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is primarily engaged in the business of Construction /
Project Activities. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
RSVA and Company Chartered Accountants |
|
Address : |
30, Prestige Point, First Floor, 283 Shukrawar Peth, Pune-411002,
Maharashtra, India |
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PAN No.: |
AAYFS1415P |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Other Related Parties : |
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CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.100/- each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
447801 |
Equity Shares |
Rs.100/-
each |
Rs.44.780
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
44.780 |
14.927 |
14.927 |
|
(b) Reserves & Surplus |
354.660 |
317.525 |
231.090 |
|
(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) |
399.440 |
332.452 |
246.017 |
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(3)
Non-Current Liabilities |
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|
(a)
long-term borrowings |
598.426 |
588.329 |
518.993 |
|
(b) Deferred tax
liabilities (Net) |
13.733 |
13.892 |
13.573 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
612.159 |
602.221 |
532.566 |
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(4) Current Liabilities |
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|
(a)
Short term borrowings |
266.151 |
154.628 |
44.436 |
|
(b)
Trade payables |
139.113 |
267.610 |
266.978 |
|
(c)
Other current liabilities |
0.000 |
0.000 |
91.606 |
|
(d)
Short-term provisions |
506.354 |
341.872 |
222.496 |
|
Total
Current Liabilities (4) |
911.618 |
764.110 |
625.516 |
|
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|
|
|
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TOTAL |
1923.217 |
1698.783 |
1404.099 |
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II.
ASSETS |
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|
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|
(1) Non-current assets |
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(a)
Fixed Assets |
|
|
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|
(i)
Tangible assets |
368.690 |
404.640 |
318.179 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b)
Non-current Investments |
17.188 |
16.325 |
16.230 |
|
(c)
Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
90.012 |
94.245 |
79.272 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
475.890 |
515.210 |
413.681 |
|
|
|
|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
67.553 |
101.022 |
105.694 |
|
(c)
Trade receivables |
282.927 |
337.444 |
336.233 |
|
(d)
Cash and cash equivalents |
405.463 |
266.028 |
178.065 |
|
(e)
Short-term loans and advances |
392.720 |
285.052 |
194.986 |
|
(f)
Other current assets |
298.664 |
194.027 |
175.440 |
|
Total
Current Assets |
1447.327 |
1183.573 |
990.418 |
|
|
|
|
|
|
TOTAL |
1923.217 |
1698.783 |
1404.099 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
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|
SALES |
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Income |
|
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|
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Other Income |
|
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|
|
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TOTAL |
2324.385 |
1987.390 |
1521.780 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Administrative and Other Expenses |
2170.809 |
1799.650 |
1370.230 |
|
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TOTAL
|
NA |
1799.650 |
1370.230 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
187.740 |
151.550 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
53.643 |
60.430 |
40.730 |
|
|
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|
|
PROFIT / (LOSS)
BEFORE TAX |
NA |
127.310 |
110.820 |
|
|
|
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|
|
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|
Less |
TAX |
NA |
40.870 |
35.620 |
|
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|
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|
|
PROFIT / (LOSS)
AFTER TAX |
66.987 |
86.440 |
75.200 |
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
216.260 |
141.060 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
302.700 |
216.260 |
|
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|
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|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
149.59 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
7.57 |
7.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.38 |
0.45 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.16
|
2.23 |
2.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.59
|
1.55 |
1.58 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
14.927 |
14.927 |
44.780 |
|
Reserves & Surplus |
231.090 |
317.525 |
354.660 |
|
Net
worth |
246.017 |
332.452 |
399.440 |
|
|
|
|
|
|
long-term borrowings |
518.993 |
588.329 |
598.426 |
|
Short term borrowings |
44.436 |
154.628 |
266.151 |
|
Total
borrowings |
563.429 |
742.957 |
864.577 |
|
Debt/Equity
ratio |
2.290 |
2.235 |
2.164 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
1521.780 |
1987.390 |
2324.385 |
|
|
|
30.596 |
16.957 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1521.780 |
1987.390 |
2324.385 |
|
Profit |
75.200 |
86.440 |
66.987 |
|
|
4.94% |
4.35% |
2.88% |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF 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 |
No |
|
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 |
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10535810 |
09/12/2014 |
16,326,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W |
C36496990 |
|
2 |
10535801 |
09/12/2014 |
33,674,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
C36494466 |
|
3 |
10462390 |
29/11/2013 |
11,820,253.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA, Guj |
B90405283 |
|
4 |
10429431 |
04/06/2013 |
40,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W |
B76456797 |
|
5 |
10398841 |
30/09/2013 * |
397,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B86570843 |
|
6 |
10370245 |
28/07/2012 |
5,362,500.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B45584455 |
|
7 |
10368848 |
26/06/2012 |
3,250,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W |
B45028438 |
|
8 |
10368843 |
26/06/2012 |
7,930,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B45026952 |
|
9 |
10349069 |
12/04/2012 |
4,587,050.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B37373289 |
|
10 |
10322674 |
18/11/2011 |
2,288,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W |
B27688753 |
* Date of charge modification
UNSECURED LOANS
|
Unsecured Loan |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Long Term Borrowings |
|
|
|
Loans and advances from related parties |
568.971 |
448.036 |
|
TOTAL
|
568.971 |
448.036 |
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. 63.32 |
|
|
1 |
Rs. 98.64 |
|
Euro |
1 |
Rs. 76.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUV |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.