MIRA INFORM REPORT
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Report No. : |
302136 |
|
Report Date : |
09.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
VIJAI ELECTRICALS LIMITED |
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|
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Formerly Known
As : |
VIJAI ELECTRICALS PRIVATE LIMITED |
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Registered
Office : |
6-3-648/1 and 2, Off Raj Bhavan Road, Somajiguda, Hyderabad – 500082,
Andhra Pradesh |
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|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
31.05.1980 |
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Com. Reg. No.: |
01-002697 |
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Capital
Investment / Paid-up Capital : |
Rs. 908.942 Millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U31909AP1980PLC002697 |
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|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACV7259B |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the manufacture of Distribution Transformers,
EHV Power Transformers, and Switchgear related products and also undertakes
the Electrification Projects. |
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|
No. of Employees
: |
800 (Approximately) |
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 |
|
Maximum Credit Limit : |
USD 10400000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track record. The company has processed above average operational performance which has
resulted into profit achieved from its operation during 2014. Further rating
also takes into consideration company’s sound financial base and fair
liquidity profile of the company. Trade relations are fair. Business is active. Payment terms are reported
to be slow but correct. The company can be considered for business dealings at usual trade
terms and conditions. |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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 |
CRISIL |
|
Rating |
Long term rating BB |
|
Rating Explanation |
Inadequate credit quality and low credit
risk. |
|
Date |
April 25, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
April 25, 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. K. Venugopal |
|
Designation : |
Finance Head |
|
Contact No.: |
91-40-30617802 |
|
Date : |
07.01.2015 |
LOCATIONS
|
Registered / Corporate Office : |
6-3-648/1 and 2, Off Raj Bhavan Road, Somajiguda, Hyderabad – 500082,
Andhra Pradesh, India |
|
Tel. No.: |
91-40-30617777/ 30617778 |
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Fax No.: |
91-40-30617733/ 30617892/ 30617865 |
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E-Mail : |
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Website : |
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Haridwar Unit : |
Plot No.1-A, Sector 12, IIE, SIDCUL, Haridwar - 249403, Uttarakhand,
India |
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Tel. No.: |
91-1334-664000/ 664053 |
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Fax No.: |
91-1334-664040/ 235375/ 235396 |
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E-Mail : |
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Roorkee Unit : |
Industrial Plot No.3 to 9, Raipur Sahakari, Audyogic Kshetra, Village: Bhagwanpur, Tehsil: Roorkee – 247661,
Uttarakhand, India |
|
Tel. No.: |
91-1332-235052/ 53/ 55 |
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Fax No.: |
91-1332-235051 |
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E-Mail : |
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Branch Offices : |
Located at: ·
· Greece |
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Overseas Ventures : |
Located at: ·
· Mexico |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Dasari Jai Ramesh |
|
Designation : |
Managing director |
|
Address : |
4-1-428, Troop Bazar, Abids, Hyderabad – 500001, Andhra Pradesh, India
|
|
Date of Birth/Age : |
15.06.1944 |
|
Qualification : |
M. Tech |
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Date of Appointment : |
01.06.2010 |
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PAN No.: |
ACNPD1885H |
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DIN No.: |
00294988 |
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Name : |
Mr. Dasari Satyanarayana |
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Designation : |
Director |
|
Address : |
Ravinivas, 8-3-310/A, 14A, Road No.14, Banjara Hills, Ranga Reddy District, Hyderabad – 500034,
Andhra Pradesh, India |
|
Date of Birth/Age : |
15.01.1951 |
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PAN No.: |
ACLPD7187N |
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Date of Appointment : |
31.05.1980 |
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DIN No.: |
02267731 |
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|
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Name : |
Mr. Balavardhan Rao Venkata Dasari |
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Designation : |
Director |
|
Address : |
Amudalapalli Unguturu Mandal, Krishna District - 521312, Andhra
Pradesh, India |
|
Date of Birth/Age : |
10.07.1964 |
|
Date of Appointment : |
27.09.2012 |
|
PAN No.: |
ABPPD8005Q |
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DIN No.: |
06414703 |
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|
|
|
Name : |
Mr. Rameshchandra Bose Tummula |
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Designation : |
Director |
|
Address : |
Flat No.101, Vamshirishi Residency, H.No.6-3-865/B, Greenlands, X
Road, Ameerpet, Hyderabad – 500016, Andhra Pradesh, India |
|
Date of Birth/Age : |
15.01.1941 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
12.03.2005 |
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DIN No.: |
00160630 |
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|
|
|
Name : |
Mr. Abraham Prathipati |
|
Designation : |
Director |
|
Address : |
Flat No.5C, Girdhar Apartments, 28, Firoze
Shah Road, New Delhi – 110001, Delhi, India |
|
Date of Birth/Age : |
01.07.1939 |
|
Qualification : |
I.A.S. (Retd.) |
|
Date of Appointment : |
07.06.2005 |
|
DIN No.: |
00280426 |
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|
Name : |
Mr. Dasari Krishna Mohan |
|
Designation : |
Whole-Time Director |
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Address : |
173, Road No.13, Jubilee Hills, Ranga Reddy District, Hyderabad –
500034, Andhra Pradesh, India |
|
Date of Birth/Age : |
01.06.1954 |
|
Qualification : |
S.S.C. |
|
Date of Appointment : |
18.10.2010 |
|
PAN No.: |
ACNPD2314D |
|
DIN No.: |
00295174 |
|
|
|
|
Name : |
Mr. Dattatraya Viswanath Narke |
|
Designation : |
Director |
|
Address : |
Asish Bunglow, Rahate Colony, Wardha Road, Nagpur – 440022,
Maharashtra, India |
|
Date of Birth/Age : |
19.05.1932 |
|
Date of Appointment : |
25.07.1986 |
|
DIN No.: |
01257773 |
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|
|
|
Name : |
Mr. Venkata Vasudeva Murthy Vemula |
|
Designation : |
Nominee Director |
|
Address : |
D4, Corithian Apartment, 17 Justice Vyas
Road, Mumbai – 400007, Maharashtra, India |
|
Date of Birth/Age : |
04.06.1955 |
|
Date of Appointment : |
29.06.2011 |
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DIN No.: |
03562794 |
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|
|
|
Name : |
Mrs. Nivedita Jagdeesh Shetty |
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Designation : |
Nominee Director |
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Address : |
A/82, Twin Tower, Veer Sarvarkar Marg,
Prabhadevi, Mumbai – 400025, Maharashtra, India |
|
Date of Appointment : |
16.11.2011 |
|
DIN No.: |
05155255 |
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|
Name : |
Mr. Prabhakar Ramchandra Dalal |
|
Designation : |
Nominee Director |
|
Address : |
1302, Wallace Apartments – I, |
|
Date of Birth/Age : |
10.07.1964 |
|
Date of Appointment : |
28.03.2013 |
|
DIN No.: |
00544948 |
KEY EXECUTIVES
|
Name : |
Mr. K. Venugopal |
|
Designation : |
Finance Head |
|
Address : |
|
|
Name : |
Mr. Suresh Babu Pentyala |
|
Designation : |
Secretary |
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Address : |
A/76, Santosh Nagar, Mehdipatnam, Hyderabad – 500028, Andhra Pradesh,
India |
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Date of Birth/Age : |
10.07.1964 |
|
Date of Appointment : |
01.12.2001 |
|
PAN No.: |
ACUPP4459Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Dasari Jai Ramesh |
|
56656892 |
|
Dasari Satyanarayana |
|
6714114 |
|
Dasari Padmapriya |
|
440000 |
|
Dasari Krishna Mohan |
|
4864837 |
|
D.V. Balavardhana Rao |
|
4649920 |
|
Dasari Syam Prasad |
|
4650074 |
|
Dasari Subhashini |
|
2200 |
|
D. Sujatha Lakshmi |
|
2200 |
|
D. Vijaya Lakshmi |
|
2200 |
|
Samrakshana Electricals Limited, |
|
5940000 |
|
D. |
|
247874 |
|
P. Koteswara Rao |
|
231957 |
|
P. Vindhya Rani |
|
247874 |
|
Dasari Usha Rani |
|
2000000 |
|
3I Research (Mauritius) Limited, Mauritius |
|
4244088 |
|
|
|
|
|
Total |
|
90894230 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Samrakshana Electricals Limited, |
|
50000 |
|
State Bank of India, India |
|
2553000 |
|
State Bank of Travancore, India |
|
129000 |
|
ING Vysya Bank Limited, India |
|
426000 |
|
IDBI Bank Limited, India |
|
1428000 |
|
Axis Bank Limited, India |
|
83000 |
|
|
|
|
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Total |
|
4669000 |
AS ON 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of
Holding |
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
4.67 |
|
Bodies corporate |
6.54 |
|
Directors or relatives of directors |
88.79 |
|
|
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacture of Distribution Transformers, EHV
Power Transformers, and Switchgear related products and also undertakes the
Electrification Projects. |
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Product : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
· ABB · Ahmedabad Electricity Company Limited · Assam State Electricity Board · Ajmer Vidyut Vitran Nigam Limited, Ajmer · Areva T and D Limited · Alstom Power · Bombay Suburban Electric Supply Limited, Mumbai · Bombay Electric Supply and Transport Undertaking, Mumbai · Bihar State Electricity Board · BSES Rajdhani Power Limited · BSES Yamuna Power Limited · Chhattisgarh State Electricity Board · Delhi Vidyut Board · Department of Atomic Energy, Mumbai ·
Gujarat Electricity Board |
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No. of Employees : |
800 (Approximately) |
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Bankers : |
· Export Import Bank of India Centre One Building, Floor 21, World Trade Center Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India · State Bank of India O ZONE, II Floor, Punjagutta Main Road, Hyderabad - 500082, Andhra Pradesh, India · State Bank of Travancore Secunderabad Branch, 111, SD Road, Secunderabad - 500003, Andhra Pradesh, India · United Bank of India Secunderabad Branch, M.G. Road, Secunderabad - 500003, Andhra Pradesh, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
P.V.R.K. Nageaswara Rao and Company Chartered Accountants |
|
Address : |
109, Metro Residency, 6-3-1247, Raj Bhavan Road, Hyderabad - 500082, Andhra
Pradesh, India |
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PAN No.: |
AACFP1618B |
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|
Wholly Owned
Subsidiary : |
· Vijai Electrica do Brasil Ltda · Vijai Electricals Mexico SA DE CV · Vijai Electricals Mexico Services SA DE CV · Electro Teknica Switchgears Private Limited CIN No.: U28113WB1988PTC044317 · Global Heavy Electricals Limited CIN No.: U40105AP2007PLC056799 |
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|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives: |
· Samrakshana Electricals Limited CIN No.: U31200AP1987PLC007329 · Kiran Enterprises |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
Rs.10/- each |
Rs. 1500.000 Millions |
|
6100000 |
Preference Shares |
Rs. 100/- each |
Rs. 610.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 2110.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90894230 |
Equity Shares |
Rs.10/- each |
Rs. 908.942 Millions |
|
4669000 |
Preference Shares |
Rs. 100/- each |
Rs. 466.900 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 1375.842
Millions |
AS ON 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs. 908.942 Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
908.942 |
1375.842 |
1375.842 |
|
(b) Reserves & Surplus |
2742.961 |
1394.814 |
2261.746 |
|
(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) |
3651.903 |
2770.656 |
3637.588 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
2325.086 |
5801.891 |
5284.205 |
|
(b) Deferred tax liabilities (Net) |
171.227 |
161.199 |
271.174 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
39.766 |
239.385 |
157.769 |
|
Total Non-current
Liabilities (3) |
2536.079 |
6202.475 |
5713.148 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
79.605 |
3905.829 |
4581.767 |
|
(b) Trade payables |
599.877 |
4483.107 |
2762.678 |
|
(c) Other current liabilities |
1306.659 |
1905.220 |
1732.498 |
|
(d) Short-term provisions |
84.842 |
30.508 |
31.481 |
|
Total Current
Liabilities (4) |
2070.983 |
10324.664 |
9108.424 |
|
|
|
|
|
|
TOTAL |
8258.965 |
19297.795 |
18459.160 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1352.029 |
4312.732 |
4587.918 |
|
(ii) Intangible Assets |
4.491 |
16.989 |
18.033 |
|
(iii) Capital work-in-progress |
264.544 |
423.159 |
427.651 |
|
(iv) Intangible assets under development |
41.796 |
41.796 |
41.796 |
|
(b) Non-current Investments |
261.246 |
472.771 |
471.834 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
234.743 |
810.497 |
848.383 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
1788.715 |
|
Total Non-Current
Assets |
2158.849 |
6077.944 |
8184.330 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.500 |
|
(b) Inventories |
632.883 |
3741.849 |
3705.799 |
|
(c) Trade receivables |
1813.914 |
7833.402 |
4769.011 |
|
(d) Cash and cash equivalents |
3182.638 |
643.333 |
764.307 |
|
(e) Short-term loans and advances |
340.329 |
927.038 |
976.249 |
|
(f) Other current assets |
130.352 |
74.229 |
58.964 |
|
Total Current
Assets |
6100.116 |
13219.851 |
10274.830 |
|
|
|
|
|
|
TOTAL |
8258.965 |
19297.795 |
18459.160 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
7595.064 |
15017.119 |
13008.443 |
|
|
|
Other Income |
284.653 |
115.409 |
210.062 |
|
|
|
TOTAL (A) |
7879.717 |
15132.528 |
13218.505 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
4800.063 |
9807.321 |
6334.033 |
|
|
|
Purchases of Stock-in-Trade |
285.865 |
1112.966 |
2019.798 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
1103.103 |
121.400 |
1396.230 |
|
|
|
Employees benefits expense |
1039.334 |
1294.104 |
1175.162 |
|
|
|
Other expenses |
2968.308 |
1836.543 |
2189.515 |
|
|
|
Exceptional Item |
-5980.881 |
28.796 |
27.626 |
|
|
|
TOTAL (B) |
4215.792 |
14201.130 |
13142.364 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3663.925 |
931.398 |
76.141 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1161.884 |
1558.212 |
1847.663 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2502.041 |
(626.814) |
(1771.522) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
265.878 |
352.462 |
345.798 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
2236.163 |
(979.276) |
(2117.320) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
801.520 |
(110.707) |
(79.477) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
1434.643 |
(868.569) |
(2037.843) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
|
2239.446 |
3058.129 |
|
|
|
Interest |
|
21.493 |
19.570 |
|
|
TOTAL EARNINGS |
NA
|
2260.939 |
3077.699 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
3159.994 |
2302.596 |
|
|
|
Stores & Spares |
|
5.828 |
0.000 |
|
|
|
Capital Goods |
|
6.284 |
27.684 |
|
|
TOTAL IMPORTS |
NA
|
3172.106 |
2330.280 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
15.78 |
(9.56) |
(22.42) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
18.89 |
(5.78) |
(15.67) |
|
|
|
|
|
|
|
Operating Profit Margin (PBITD/Sales) |
(%) |
48.24 |
6.20 |
0.59 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
29.07 |
(5.33) |
(12.09) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.61 |
(0.35) |
(0.58) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.66 |
3.50 |
2.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.95 |
1.28 |
1.13 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
1375.842 |
1375.842 |
908.942 |
|
Reserves & Surplus |
2261.746 |
1394.814 |
2742.961 |
|
Net
worth |
3637.588 |
2770.656 |
3651.903 |
|
|
|
|
|
|
Long-term borrowings |
5284.205 |
5801.891 |
2325.086 |
|
Short term borrowings |
4581.767 |
3905.829 |
79.605 |
|
Total
borrowings |
9865.972 |
9707.720 |
2404.691 |
|
Debt/Equity ratio |
2.712 |
3.504 |
0.658 |
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 |
13008.443 |
15017.119 |
7595.064 |
|
|
|
15.441 |
(49.424) |
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 |
13008.443 |
15017.119 |
7595.064 |
|
Profit/ (Loss) |
(2037.843) |
(868.569) |
1434.643 |
|
|
(15.67%) |
(5.78%) |
18.89% |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
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 |
Yes |
|
19] |
Payments terms |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
LITIGATION DETAILS
|
ITTA 336 / 2014 |
ITTASR 3042 / 2013 |
CASE IS:PENDING |
|
|
|
|
|
PETITIONER |
|
RESPONDENT |
|
COMMISSIONER OF INCOME TAX-III |
VS |
VIJAI ELECTRICALS LTD |
|
PET.ADV. : NARASIMHA SARMA |
|
RESP.ADV. : SIVA KARTIKEYA |
|
SUBJECT: U/Sec. 143 Assessment |
|
DISTRICT: HYDERABAD |
|
|
|
|
|
FILING DATE: 27-09-2013 |
POSTING STAGE : FOR ADMISSION & HEARING |
FILING DATE: 27-09-2013 |
|
REG. DATE : 03-06-2014 |
LISTING DATE : 11-06-2014 |
STATUS : ADMIT |
|
|
|
|
|
HON'BLE JUDGE(S): |
HON'BLE THE CHIEF JUSTICE |
SANJAY KUMAR |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10366831 |
27/12/2013 * |
30,163,500,000.00 |
SBICAP TRUSTEE
COMPANY LIMITED |
202, MAKER
TOWER, 'E', CUFFE PARADE, COLABA,, MUMBAI, MAHARASHTRA - 400005, INDIA |
B92508753 |
|
2 |
10294727 |
07/06/2011 * |
400,000,000.00 |
TATA CAPITAL
LIMITED |
ONE FORBES, DR V
B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B17309691 |
|
3 |
10276286 |
06/06/2011 * |
500,000,000.00 |
ANDHRA BANK |
SPECIALISED
CORPORATE FINANCE BRANCH, SOMAJIGUDA, |
B15775844 |
|
4 |
10200497 |
14/08/2010 * |
500,000,000.00 |
L & T
FINANCE LIMITED |
L&T HOUSE, BALLARD
ESTATE, MUMBAI, MAHARASHTRA |
A92483478 |
|
5 |
10179599 |
14/08/2010 * |
400,000,000.00 |
LIFE INSURANCE
CORPORATION OF INDIA |
CENTRAL OFFICE,
INVESTMENT DEPARTMENT, 'YOGAKSHEMA, 6TH FLOOR, WEST WING, JEEVAN BIMA MARG,
MUMBAI, |
A93313104 |
|
6 |
10163578 |
14/08/2010 * |
2,000,000,000.00 |
AXIS BANK
LIMITED |
DOOR NO/ S. NO.
5-4-124/124 (OLD NO.8571), MODI SQUARE, R P ROAD, SECUNDERABAD, ANDHRA
PRADESH - 500003, INDIA |
A91827261 |
|
7 |
10114010 |
14/08/2010 * |
500,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA,, DR. |
A94177524 |
|
8 |
10075789 |
14/08/2010 * |
400,000,000.00 |
IDBI BANK
LIMITED |
IDBI TOWERWTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A92464619 |
|
9 |
10073119 |
14/08/2010 * |
192,500,000.00 |
EXPORT IMPORT
BANK OF INDIA |
CENTRE ONE
BUILDING, FLOOR 21, WORLD TRADE CENTRE, COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA
- 400005, INDIA |
A93983674 |
|
10 |
10063124 |
14/08/2010 * |
171,200,000.00 |
EXPORT IMPORT
BANK OF INDIA |
CENTRE ONE
BUILDING, WORLD TRADE CENTER COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA
- 400005, INDIA |
A92980028 |
|
11 |
10039060 |
14/08/2010 * |
315,000,000.00 |
IDBI BANK
LIMITED |
IDBI TOWERWTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A92465095 |
|
12 |
10028954 |
14/08/2010 * |
315,000,000.00 |
EXPORT IMPORT
BANK OF INDIA |
CENTER ONE BUILDING,
FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA
- 400005, INDIA |
A92595677 |
|
13 |
10020386 |
14/08/2010 * |
290,000,000.00 |
EXPORT IMPORT
BANK OF INDIA |
CENTRE ONE
BUILDING, FLOOR21, WORLD TRADE CENTER COMPLEX, CUFEE PARADE, MUMBAI,
MAHARASHTRA - 400005, INDIA |
A92988534 |
|
14 |
80048992 |
14/08/2010 * |
124,200,000.00 |
EXPORT IMPORT
BANK OF INDIA |
CENTRE ONE
BUILDING, FLOOR 21, WORLD TRADE CENTER COMPLEX, CUFFE PARADE, MUMBAI,
MAHARASHTRA - 4000 |
A92595511 |
|
15 |
80043867 |
14/08/2010 * |
130,000,000.00 |
EXPORT IMPORT
BANK OF INDIA |
CENTRE ONE
BUILDING, FLOOR 21,, WORLD TRADE CENTR |
A92988229 |
|
16 |
90259072 |
14/08/2010 * |
125,400,000.00 |
EXPORT IMPORT
BANK OF INDIA |
CENTER ONE
BUILDING, FLOOR NO. 21, WORLD TRADE CE |
A92595552 |
|
17 |
90258911 |
14/08/2010 * |
317,600,000.00 |
EXPORT IMPORT BANK
OF INDIA |
CENTRE ONE
BUILDING, FLOOR 21,, WORLD TRADE CENTER COMPLEX, CUFFE PARADE, MUMBAI,
MAHARASHTRA - 400005, INDIA |
A95936951 |
|
18 |
90257091 |
29/03/2001 |
30,700,000.00 |
EXPORT IMPORT
BANK OF INDIA |
CENTRE ONE, WORLD
TRADE CENTRE, BOMBAY, MAHARASHTRA - 400005, INDIA |
- |
|
19 |
90259890 |
01/09/2000 |
211,000,000.00 |
ING VYSYA BANK
LTD. |
SARDAR PATEL
ROAD BRANCH, SECUNDERABAD, ANDHRA PRADESH, INDIA |
- |
|
20 |
90258361 |
29/03/2001 * |
4,000,000.00 |
EXPORT IMPORT
BANK OF INDIA |
CENTRE ONE,
WORLD TRADE CENTRE, BOMBAY, MAHARASHTRA - 400005, INDIA |
- |
|
21 |
90258176 |
06/05/1996 * |
55,300,000.00 |
EXPORT IMPORT
BANK OF INDIA |
CENTRE ONE,
WORLD TRADE CENTRE, BOMBAY, MAHARASHTRA - 400005, INDIA |
- |
|
22 |
90258109 |
10/09/2004 * |
100,000,000.00 |
EXPORT IMPORT
BANK OF INDIA |
CENTRE ONE,
WORLD TRADE CENTRE, BOMBAY, MAHARASHTRA - 400005, INDIA |
- |
|
23 |
90259686 |
06/05/1996 * |
30,000,000.00 |
STATE BANK OF
INDIA |
BALANAGAR, HYDEDERABAD,
ANDHRA PRADESH, INDIA |
- |
|
24 |
90258088 |
31/05/1995 |
272,500,000.00 |
STATE BANK OF
TRAVANCORE |
SECUNDERABAD,
SECUNDERABAD, ANDHRA PRADESH, INDIA |
- |
|
25 |
90258073 |
06/05/1996 * |
272,500,000.00 |
STATE BANK OF
TRAVANCORE |
SECUNDERABAD
BRANCH, SECUNDERABAD, ANDHRA PRADESH, |
- |
|
26 |
90257493 |
10/09/2004 * |
4,000,000.00 |
EXPORT IMPORT
BANK OF INDIA |
CENTRE ONE,
WORLD TRADE CENTRE, BOMBAY, MAHARASHTRA - 400005, INDIA |
- |
|
27 |
90259406 |
14/03/1984 |
4,000,000.00 |
STATE BANK OF
INDIA |
BALANAGAR
BRANCH, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
28 |
80002537 |
18/09/2010 * |
21,710,000,000.00 |
STATE BANK OF
INDIA |
OZONE, II FLOOR,
PUNJAGUTTA MAIN ROAD, HYDERABAD, |
A96363742 |
|
29 |
90257277 |
06/12/2004 * |
8,500,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, SOMJIGUDA, HYDERABAD, |
- |
|
30 |
90259383 |
06/05/1981 |
8,500,000.00 |
STATE BANK OF
INDIA |
BALANAGAR BRANCH,
HYDERABAD, ANDHRA PRADESH - 500082, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
|
LONG-TERM
BORROWINGS |
|
|
Loans and advances from directors |
160.000 |
|
Other loans and advances, others |
250.000 |
|
|
|
|
Total |
410.000 |
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
· Leasehold Improvements
Intangible Assets
· Computer Software
· Patents
· Know-how
· Copyrights
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. 62.97 |
|
|
1 |
Rs. 94.97 |
|
Euro |
1 |
Rs. 74.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
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.