MIRA INFORM REPORT
|
Report No. : |
329608 |
|
Report Date : |
03.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
FLASH ELECTRONICS ( |
|
|
|
|
Registered
Office : |
202, Western Avenue, Bank Farms, New Delhi – 110062 |
|
Tel. No.: |
91-11-29231411 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
26.10.1989 |
|
|
|
|
Com. Reg. No.: |
55-038169 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.51.093Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1989PTC038169 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELF02582G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF1538P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Electronic and Electrical Auto Components. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
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 |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-built company came into existence in 1989. It is
engaged in the business of manufacturing of electronic and electrical auto
components. It has a fine track record. For the financial year ended 2014, the company possesses healthy
operational performance and it has achieved good sales volume along with
profitability margin of 4.0%. Ratings also takes into consideration the impressive balance sheet of
the company having strong net worth position and favorable gap between trade
payables and trade receivables. Further the company has long history of business operation and
respectable and experienced directors. Trade relations are reported as fair. Business is active. Payments
terms results to be regular and as per commitment. In the view of decent financial base and heathy operational profile,
the company can be considered good for normal 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
CARE |
|
Rating |
Long Term Bank Facilities=A |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
12.02.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities=A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
12.02.2015 |
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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Sanjeev Vasdev |
|
Designation : |
Director |
|
Contact No.: |
91-9810512718 |
|
Date : |
30.06.2015 |
LOCATIONS
|
Registered Office/ Factory 1 : |
202, Western Avenue, Bank Farms, New Delhi – 110062, India |
|
Tel. No.: |
91-11-29231411 |
|
Mobile No.: |
91-9810512718 (Mr. Sanjeev Vasdev) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 2 : |
13/6, |
|
|
|
|
Factory 3 : |
A-4, MIDC Chakan Industrial Area, Mahalunge, Chakan, Pune – 410 501, |
|
Tel. No.: |
91-2135-666000 |
|
Fax No.: |
91-2135-666109 |
|
E-Mail : |
|
|
|
|
|
Branch Address: |
9A, Phelps Building, Connaught, Place, New Delhi, India |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Sanjeev Vasdev |
|
Designation : |
Managing Director |
|
Address : |
202, |
|
Date of Birth/Age : |
27.09.1964 (47 years) |
|
Qualification : |
B.E. |
|
Experience: |
25 years |
|
Date of Appointment : |
26.10.1989 |
|
DIN No.: |
01145227 |
|
|
|
|
Name : |
Mr. Parmeet Vasdev |
|
Designation : |
Director |
|
Address : |
M-89, Greater Kailash-ll, New Delhi – 110019, India |
|
Date of Birth/Age : |
22.10.1970 (43 years) |
|
Qualification : |
B.Com |
|
Experience: |
22 years |
|
Date of Appointment : |
01.04.1991 |
|
DIN No.: |
01188136 |
|
|
|
|
Name : |
Mr. Ranvir Singh Vasdev |
|
Designation : |
Chairman Cum Managing Director |
|
Address : |
202, |
|
Date of Birth/Age : |
23.04.1934 |
|
Qualification : |
Mechanical Engineer |
|
Date of Appointment : |
28.02.1995 |
|
DIN No.: |
01188568 |
|
|
|
|
Name : |
Mrs. Sonia Kathuria |
|
Designation : |
Director |
|
Address : |
B-170, East of Kailash, |
|
Date of Birth/Age : |
17.11.1962 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
16.03.2007 |
|
DIN No.: |
01216595 |
|
|
|
|
Name : |
Narinder Paul Kathura |
|
Designation : |
Director |
|
Address : |
B-170, East of Kailash, |
|
Date of Birth/Age : |
24.10.1959 (54 years) |
|
Qualification : |
B.E. |
|
Experience: |
26 years |
|
Date of Appointment : |
31.03.1992 |
|
DIN No.: |
02598618 |
KEY EXECUTIVES
|
Name : |
Mr. R.S Vasdev |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Sanjeev Vasdev |
|
Designation : |
Founder and Managing Director |
|
|
|
|
Name : |
Mr. N.P Kathuria |
|
Designation : |
Head R and D |
|
|
|
|
Name : |
Mr. Jagannath Deshmukh |
|
Designation : |
AVP, Production |
|
|
|
|
Name : |
Mr. Sanjay Choudhary |
|
Designation : |
AVP R and D |
|
|
|
|
Name : |
Mr. S R. Sharma |
|
Designation : |
AVP, Business Development |
|
|
|
|
Name : |
Mr. Vinod Kale |
|
Designation : |
Finance and Accounts |
|
|
|
|
Name : |
Mr. Vishwanath Yerwa |
|
Designation : |
GM, HR and Administration |
|
|
|
|
Name : |
Vinod Salunkhe |
|
Designation : |
AVP, Material and Vendor Development |
|
|
|
|
Name : |
Mr. Amit Jaitly |
|
Designation : |
Maintenance |
MAJOR SHAREHOLDERS
As on 29.09.2014
|
Names of Shareholders |
No. of Shares |
|
Sonia Kathuria |
3131000 |
|
Sanjeev Vasdev |
12917333 |
|
Ranvir Singh Vasdev |
191667 |
|
Parmeet Vasdev |
10000000 |
|
Renu Vasdev |
150000 |
|
Kavita Vasdev |
1900000 |
|
Narinder Paul Kathuria |
11910000 |
|
SIDBI Trustee Company Limited, India |
10649644 |
|
Rensons India |
243665 |
|
Total |
51093309 |
As on 29.09.2014
|
Category |
Percentage |
|
Venture Capital |
20.84 |
|
Directors or relatives of Directors |
79.16 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20329608%2003-Jul-2015_files/image013.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Electronic and Electrical Auto Components. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
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|
|
Exports : |
Not Available |
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|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30/ 60/ 90 Days) |
|
|
|
|
Purchasing : |
Cash and Credit (30/ 60/ 90 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users and OEMs
Electrical Industries ,
Manufacturer |
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No. of Employees : |
250 (Approximately) |
||||||||||||||||||||||||
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Bankers : |
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Facilities : |
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|
|
|
|
Auditors : |
|
|
Name : |
Wahi and Company Chartered Accountant |
|
Address : |
K-1, Kaillash Colony, |
|
Tel. No.: |
91-11-29232225 / 29241921 / 41734728 / 41734732 / 41734738 |
|
Fax No.: |
91-11-29231411 |
|
E-Mail : |
|
|
Website : |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFW0375N |
|
|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprise over Key managerial Personnel are able to exercise
significance influence: |
|
|
|
|
|
Subsidiary: |
|
CAPITAL STRUCTURE
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
52500000 |
Equity Shares |
Rs.1/- each |
Rs.52.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
51093309 |
Equity Shares |
Rs.1/- each |
Rs.51.093
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
51.093 |
51.093 |
51.093 |
|
(b) Reserves & Surplus |
894.103 |
767.885 |
616.678 |
|
(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) |
945.196 |
818.978 |
667.771 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
114.995 |
125.169 |
223.900 |
|
(b) Deferred tax liabilities
(Net) |
28.308 |
28.563 |
31.950 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
17.565 |
23.547 |
18.533 |
|
Total
Non-current Liabilities (3) |
160.868 |
177.279 |
274.383 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
391.809 |
605.153 |
518.315 |
|
(b) Trade payables |
553.242 |
482.876 |
379.457 |
|
(c) Other current liabilities |
43.937 |
38.628 |
15.778 |
|
(d) Short-term provisions |
67.546 |
59.951 |
52.300 |
|
Total
Current Liabilities (4) |
1056.534 |
1186.608 |
965.850 |
|
|
|
|
|
|
TOTAL |
2162.598 |
2182.865 |
1908.004 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
957.536 |
919.277 |
818.050 |
|
(ii) Intangible Assets |
2.854 |
19.800 |
36.838 |
|
(iii) Capital work-in-progress |
57.400 |
15.221 |
8.438 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
6.206 |
4.655 |
4.655 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.560 |
0.560 |
4.647 |
|
(e) Other Non-current assets |
56.907 |
55.400 |
45.107 |
|
Total
Non-Current Assets |
1081.463 |
1014.913 |
917.735 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
320.440 |
297.681 |
225.128 |
|
(c) Trade receivables |
646.586 |
739.840 |
609.061 |
|
(d) Cash and cash equivalents |
11.877 |
9.166 |
6.024 |
|
(e) Short-term loans and
advances |
98.269 |
114.624 |
138.958 |
|
(f) Other current assets |
3.963 |
6.641 |
11.098 |
|
Total
Current Assets |
1081.135 |
1167.952 |
990.269 |
|
|
|
|
|
|
TOTAL |
2162.598 |
2182.865 |
1908.004 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
TOTAL
INCOME |
3535.647 |
3485.970 |
2815.893 |
|
|
|
|
|
|
|
Less |
EXPENSES |
3158.844 |
3088.137 |
2496.398 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
376.803 |
397.833 |
319.495 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
47.831 |
63.024 |
59.330 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
328.972 |
334.809 |
260.165 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
133.613 |
124.989 |
102.475 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
195.359 |
209.820 |
157.690 |
|
|
|
|
|
|
|
Less |
TAX |
52.113 |
41.638 |
40.413 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX |
143.246 |
168.182 |
117.277 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
2.80 |
3.29 |
2.30 |
As on 31.03.2014
|
Particulars |
EURO |
US $ |
JPY |
CHF |
SGD |
AUD |
|
Capital Goods |
0.129 |
0.158 |
85.000 |
0.000 |
0.016 |
0.000 |
|
Raw Material and Components |
0.301 |
6.453 |
0.000 |
0.162 |
0.000 |
0.018 |
|
Strores and Spares |
0.071 |
0.053 |
3.023 |
0.000 |
0.009 |
0.000 |
As on 31.03.2013
|
Particulars |
EURO |
US $ |
JPY |
CHF |
SGD |
AUD |
|
Capital Goods |
0.305 |
0.663 |
0.000 |
0.036 |
0.000 |
0.000 |
|
Raw Material and Components |
0.382 |
7.433 |
1.000 |
0.140 |
0.028 |
0.031 |
|
Strores and Spares |
0.014 |
0.055 |
4.693 |
0.007 |
0.002 |
0.000 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover |
|
|
4300.000 |
|
|
|
|
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
4.05 |
4.82 |
4.16 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
10.66 |
11.41 |
11.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.31 |
9.70 |
8.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.26 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.54 |
0.89 |
1.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02 |
0.98 |
1.03 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
51.093 |
51.093 |
51.093 |
|
Reserves & Surplus |
616.678 |
767.885 |
894.103 |
|
Net
worth |
667.771 |
818.978 |
945.196 |
|
long-term borrowings |
223.900 |
125.169 |
114.995 |
|
Short term borrowings |
518.315 |
605.153 |
391.809 |
|
Total
borrowings |
742.215 |
730.322 |
506.804 |
|
Debt/Equity
ratio |
1.111 |
0.892 |
0.536 |
%20PRIVATE%20LIMITED%20-%20329608%2003-Jul-2015_files/image014.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
2815.893 |
3485.970 |
3535.647 |
|
|
|
23.796 |
1.425 |
%20PRIVATE%20LIMITED%20-%20329608%2003-Jul-2015_files/image015.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
2815.893 |
3485.970 |
3535.647 |
|
Profit |
117.277 |
168.182 |
143.246 |
|
|
4.16% |
4.82% |
4.05% |
%20PRIVATE%20LIMITED%20-%20329608%2003-Jul-2015_files/image016.gif)
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from B-11/3, Mohan Co-Operative Industrial Area, New Delhi – 110044, India to the present address w.e.f. 22.10.2010
PERFORMANCE
REVIEW
The performance for the financial year 2013-14 was as per expectations due to the slowdown in the Indian engineering industry. The company’s total net sales was Rs.3530.000 Million showing a meager growth of 1% which itself is an achievement keeping in mind the overall challenges faced by the Indian industry. Out of the total revenue 75% was from the automotive segment and balance 25% from its energy meter segment. The Indian engineering industry faced tough challenges due to higher interest costs and major volatility in foreign exchange. As the company is importing major raw materials the overall financial performance was impacted due to major volatility in US dollar in Q2 and Q3.
The company despite the negative market sentiments recorded its highest net sales since inception of Rs.3530.000 Million and a profit after tax of Rs.143.200 Million. The reduction in profit after tax was mainly due to loss against foreign exchange and higher income tax payout due to less benefit availed u/s 35(2AB) of the Income tax act . The company also had to absorb higher energy and manufacturing costs which had adversely impacted the profit after tax.
OUTLOOK
The Indian engineering industry is expected to show some signs of revival from H2 onwards and the company has drawn an aggressive plan to consolidate its position in the automotive segment.
The company has drawn out its business plan for financial year 2014-15 targeting a healthy double digit growth through addition of new automotive customers and products. However the energy meter business segment of the company may decline in the coming years. This would be mainly due to non-availability of funds for the state electricity boards but the company is hopeful of offsetting the overall sales through its growth in the automotive segment. The profit after tax is expected to show a healthy growth, which would be the result of the cost cutting efforts put in place by the company.
The company would also start building its new plant at Chakan , Pune from Q3 onwards and this plant would be completed by October 2015. This plant is being set-up to add new product lines for the 4 wheeler segment and is expected to further strengthen the company’s position in the automotive segment.
FINANCE
To meet its finance requirement in proportion to sales growth the company has the following sanctioned Cash Credit Limits, Buyer Credit and Bill Discounting Limit available for utilization.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Rupee Term Loans from Others |
37.670 |
86.739 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Term loans from Others |
70.000 |
100.000 |
|
Working Capital loans from Banks |
196.183 |
239.694 |
|
Total |
303.853 |
426.433 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10447888 |
23/08/2013 |
60,000,000.00 |
CITI BANK N. A. |
Jeevan Bharti Building, 4th Floor,, 124 Connaught Circus, Connaught Place,, New Delhi, Delhi - 110001, INDIA |
B84467059 |
|
2 |
10397039 |
17/12/2012 |
50,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT MARG, LOWER PAREL |
B65907438 |
|
3 |
10389412 |
07/11/2012 |
52,600,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B63124754 |
|
4 |
10465452 |
24/11/2011 |
110,000,000.00 |
CITIBANK N. A. |
TRENT HOUSE, 2ND
FLOOR, G BLOCK, PLOT NO.C60, BAN |
B39401948 |
|
5 |
10280811 |
25/02/2011 |
47,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B10686541 |
|
6 |
10251847 |
21/06/2014 * |
650,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
C10119196 |
|
7 |
10174785 |
21/06/2014 * |
697,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
C10118669 |
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
In respect of guarantee given to other parties for Sales Tax matters & various electricity Boards |
229.235 |
107.866 |
|
B.G to Commissioner of sales tax |
0.005 |
0.005 |
|
Bonds Under Customs & Earnest Money Deposit against Tender |
8.246 |
1.666 |
|
Capex payments for PO raised but payment to be made for project work at Capex payments for PO raised but payment to be made for project work at |
2.441 |
3.238 |
|
In respect of letter of credit to parties |
0.000 |
48.559 |
FIXED ASSETS
Tangible Assets
- Land
- Buildings
- Plant and Equipment
- Furniture and fixtures
- Office equipment
- Computer equipments
Intangible Assets
- Goodwill
- Computer software
- Patents
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.63.39 |
|
|
1 |
Rs.98.94 |
|
Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRP |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
62 |
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.