MIRA INFORM REPORT

 

 

Report No. :

332423

Report Date :

17.07.2015

 

IDENTIFICATION DETAILS

 

Name :

SURANA SOLAR LIMITED

 

 

Formerly Known As :

SURANA VENTURES LIMITED

 

 

Registered Office :

5th Floor, Surya Towers, Sardar Patel Road, Secunderabad – 500003, Telangana

Tel. No.:

91-40-27845119

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

08.11.2006

 

 

Com. Reg. No.:

051566

 

 

Capital Investment / Paid-up Capital :

Rs.246.033 Million

 

 

CIN No.:

[Company Identification No.]

L45200TG2006PLC051566

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges

 

 

Line of Business :

Subject is engaged in manufacturing of Solar Photovoltaic PV Modules like PV modules, solar lighting and laterns, and solar projects.

 

 

No. of Employees :

Information declined by the management.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 1370000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well-established company incorporated during the year 2006. It has a satisfactory track record.

 

For the financial year ended 2015, the company possesses healthy operational activities marked by profitability margin of 6.7% with decent sales turnover.

 

Rating also reflects good liquidity profile and healthy reserves position along with low borrowings of the company.

 

Trade relations are reported as fair. Business is active. Payment terms are reported as usually correct.

 

In view of healthy financial risk profile, company can be considered for business dealings at usual trade terms and conditions.

 

 

 

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

ICRA

Rating

Long term fund based limits : BBB-

Rating Explanation

Moderate degree of safety and moderate credit risk.

Date

February, 2015

 

Rating Agency Name

ICRA

Rating

Short term fund based limits : A3

Rating Explanation

Moderate degree of safety and higher credit risk.

Date

February, 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 DENIED BY

 

Name :

Mr. Laxman Rao

Designation :

Accounts Department

Contact No.:

91-40-27845119

Date :

15.07.2015

 

LOCATIONS

 

Registered Office :

5th Floor, Surya Towers, Sardar Patel Road, Secunderabad – 500003, Telangana, India

Tel. No.:

91-40-27845119 /  27841198 / 44665750

Fax No.:

91-40 27848851

E-Mail :

solar@surana.com

surana@surana.com

Website :

http://www.surana.com

http://www.suranaventures.com

 

 

Solar Photovoltaic Division

 

Factory 1:

Plot No 212/3, Phase II, I.D.A., Cherlapally, Hyderabad – 500 051

 

 

Factory 2:

Plot No.21, Ravirayal (Village),Maheswaram (Mandal), Rangareddy (District), Fabcity, Hyderabad, Telangana, India

 

 

Factory 3:

Plot No. 12, Rasoolpura, Secunderabad – 500 003, Telangana, India

 

 

Non- Conventional Energy (Wind)

 

Factory 4:

Kaladhon Village, Khatav Taluka, Satara District, Maharashtra, India

 

 

Factory 5

Puliyur Village, Tenkasi Taluk, Tirunelveli District, Tamilnadu, India

 

 

DIRECTORS

 

Name :

G M Surana

Designation :

Chairman

 

 

Name :

O Swaminatha Reddy

Designation :

Director

 

 

Name :

R Surender Reddy

Designation :

Director

 

 

Name :

S R Vijayakar

Designation :

Director

 

 

Name :

Dr. R. N. Sreenath

Designation :

Director

 

 

Name :

Narender Surana

Designation :

Managing Director

 

 

Name :

Devendra Surana

Designation :

Executive Director

 

 

Name :

Manish Surana

Designation :

Executive Director

 

 

Name :

Nirmal Kumar Jain

Designation :

Director

 

 

Name :

Ramaiah Alapakam

Designation :

Whole-Time Director

 

                                               

KEY EXECUTIVES

 

Statutory Committees

 

 

 

Audit Committee

 

Name :

O Swaminatha Reddy

Designation :

Chairman

 

 

Name :

G M Surana

Designation :

Member

 

 

Name :

R Surender Reddy

Designation :

Member

 

 

Name :

S R Vijayakar

Designation :

Member

 

 

Name :

Dr. R. N. Sreenath

Designation :

Member

 

 

Stakeholders Relationship Committee

 

 

Name :

G M Surana

Designation :

Chairman

 

 

Name :

Narender Surana

Designation :

Member

 

 

Name :

Devendra Surana

Designation :

Member

 

 

Nomination & remuneration committee:

 

Name :

R Surender Reddy

Designation :

Chairman

 

 

Name :

O Swaminatha Reddy

Designation :

Member

 

 

Name :

S R Vijayakar

Designation :

Member

 

 

Name :

Badarish H Chimalgi

Designation :

Company Secretary

 

 

Name :

Mr. Laxman Rao

Designation :

Accounts Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.06.2015

 

Category of Shareholder

Total No. of Shares

Total Shareholding as a % of Total No. of Shares

 

(A) Shareholding of Promoter and Promoter Group

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

16321686

33.17

http://www.bseindia.com/include/images/clear.gifBodies Corporate

20579588

41.82

http://www.bseindia.com/include/images/clear.gifSub Total

36901274

74.99

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

36901274

74.99

(B) Public Shareholding

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

21300

0.04

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

6300

0.01

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

283250

0.58

http://www.bseindia.com/include/images/clear.gifSub Total

310850

0.63

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

1428349

2.90

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

Individual shareholders holding nominal share capital up to Rs. 0.100 Million

5954747

12.10

Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million

3329361

6.77

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

1282019

2.61

http://www.bseindia.com/include/images/clear.gifClearing Members

93398

0.19

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

1100871

2.24

http://www.bseindia.com/include/images/clear.gifOverseas Corporate Bodies

87750

0.18

http://www.bseindia.com/include/images/clear.gifSub Total

11994476

24.38

Total Public shareholding (B)

12305326

25.01

Total (A)+(B)

49206600

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

 

 

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

0

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

0

0.00

Total (A)+(B)+(C)

49206600

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in manufacturing of Solar Photovoltaic PV Modules like PV modules, solar lighting and laterns, and solar projects.

 

 

Products :

Solar Photovoltaic PV Modules like PV modules, solar lighting and laterns, and solar projects

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

Not Available

Purchasing :

 

 

PRODUCTION STATUS : NOT AVAILABLE

 

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Available

Name of the Person :

Not Available

Contact No.:

Not Available

Since How Long Known :

Not Available

Maximum Limit Dealt :

Not Available

Experience :

Not Available

Remark:

Not Available

 

 

Customers :

Reference :

Not Available

Name of the Person :

Not Available

Contact No.:

Not Available

Since How Long Known :

Not Available

Maximum Limit Dealt :

Not Available

Experience :

Not Available

Remark:

Not Available

 

 

No. of Employees :

Not Available

 

 

Bankers :

Bank Name

Not Available

Branch

Not Available

Person Name (With Designation)

Not Available

Contact Number

Not Available

Name of Account Holder

Not Available

Account Number

Not Available

Account Since (Date/Year of Account Opening)

Not Available

Average Balance Maintained (If Possible)

Not Available

Credit Facilities Enjoyed (If any)

Not Available

Account Operation

Not Available

Remarks (If any)

Not Available

 

  • Indian Overseas Bank
  • Corporation Bank
  • Bank of India

 

 

Facilities :

Secured Loan

31.03.2015

(Rs. in Million)

31.03.2015

(Rs. in Million)

Long-term Borrowings

 

 

Buyers credit from bank

NA

63.183

Car loan from bank

NA

2.089

Short-term borrowings

 

 

Cash credit from bank

NA

68.861

Buyers credit from bank

NA

185.417

Total

NA

319.550

 

NOTE :

 

Long-term Borrowings

 

Buyer’s credit from banks

(i) Buyer’s credit from Scheduled Banks is secured by hypothecation of stock, trade receivables and first pari-passu charge on specific fixed assets of the company. Further, it has been guaranted by the Managing Director and Director. Accordingly due with in a Year is Rs. 185.417 Million which is classified under short term borrowings.

 

(ii) Details of Maturity of Buyers Credit

 

Car loan from bank

 

(i) Car loan from HDFC Bank Limited is secured against hypnotization of car. The loan was taken during the financial year 2012-13 and is repayable in monthly installment of Rs 131,972/- each. Accordingly due with in a year is Rs 1.584 Million which is classified under current liabilities.

 

(ii) Car loan from Kotak Mahindra Prime Limited is secured against hypnotization of car. The loan was taken during the financial year 2013-14 and is repayable in monthly installment of Rs 32,000/- each. Accordingly due with in a year is Rs 0.384 Million which is classified under current liabilities.

 

 

Short-term borrowings

 

Cash credit

Cash credit from Scheduled Banks is secured by hypothecation of stock, trade receivables and first pari-passu charge on specific fixed assets of the company. Further, it has been guaranteed by the Managing Director and Director.

 

Buyer’s credit from scheduled banks due with in a year is classified as short term borrowings

 

Auditors :

 

 

 

Statutory Auditors

 

Name :

Sekhar and Company

Chartered Accountants

Address :

133/4, R. P. Road, Secunderabad – 500003, Telangana, India

 

 

Internal Auditors

 

Name :

Luharuka and Associates

Chartered Accountants

Address :

5-4-187/3&4, Soham Mansion, 2nd Floor, Above Bank of Baroda, M G Road, Secunderabad - 500003, Telangana, India

 

 

Cost Auditors

 

Name :

BVR and Associates

Cost Accountants

Address :

H No. 6-3-628/3, Flat No. 101, R.V. Naipunya Apts. Anand Nagar Colony, Khairatabad, Hyderabad – 500 004, Telangana, India

 

 

Secretarial Auditor

 

Name :

GSLN Gupta

Address :

A47, Sree Nilayam, 1st Floor, Indian Airlines Employees Colony, Lane No. – 3 Begumpet, Hyderabad – 500016,Telangana, India

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Related parties where significant influence exists and with whom transactions have not taken place during the year [AS ON 31.03.2014] :
  • AP Golden Apparels Private Limited
  • Bhagynagar Entertainment and Infra Development Company Private Limited
  • Bhagyanagar Capital Private Limited
  • Majestic Logistics Private Limited
  • Bhagyanagar Industrial Park
  • Sha Sons Private Limited
  • Bhagyanagar Infrastructure Limited
  • Bhagyanagar Foods and Beverages Private Limited
  • Bhagyanagar Metals Limited
  • Andhra Electro Galvanising Works
  • Bhagyanagar Properties Private Limited
  • Bhagyanagar Entertainment Limited
  • Scientia Infocom India Private Limited
  • Bhagyanagar Ventures Private Limited
  • Blossom Residency Private Limited
  • Everytime Foods Industries Private Limited
  • Celestial Solar Solutions Private Limited
  • Royal Skyscrapers India Private Limited
  • Epicentre Entertainment Private Limited
  • Surana Boichemicals Private Limited
  • Globecom Infotech Private Limited
  • Site Tonic Websolutions Private Limited
  • GMS Realtors Private Limited
  • Stealth Energy Private Limited
  • Green Energy Systems Private Limited
  • Surana Technopark Private Limited
  • Innova Biotech India Private Limited
  • Metropolitan Venuters India Limited
  • Innova Infrastructure Private Limited
  • Bhagyanagar Securities Private Limited
  • Innova Technologies Private Limited
  • Corpmedia Publications India Private Limited
  • Vpower Solutions Private Limited (formerly Tranquil Avenues Private Limited)
  • Globecom Infra Ventures Private Limited

 

 

Related parties where significant inluence exists and with whom transactions have taken place during the year [AS ON 31.03.2014]:
  • Bhagyanagar India Limited
  • Surana Infocom Private Limited
  • Surana Telecom and Power Limited
  • Value Infrastructure and Properties Private Limited
  • Solar Dynamics Private Limited
  • Bhagyanagar Green Energy Limited
  • Surana Solar Systems Private Limited
  • Bhagyanagar Energy and Telecom Private Limited

 

 

Associate Company

[AS ON 31.03.2014]:

Solar World Exchange Private Limited

 

 

CAPITAL STRUCTURE

 

As on 31.03.2015

 

Authorised Capital : Not Available

 

Issued, Subscribed & Paid-up Capital : Rs.246.033 Million

 

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5,00,00,000

Equity Shares

Rs.10/- each

Rs.500.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2,46,03,300

Equity Shares

Rs.10/- each

Rs.246.033 Million

 

Reconciliation of shares outstanding at the beginning & at the end of the Reporting Period

 

Particulars

No. of Shares

Amount

At the beginning of the year

24,603,300

Rs.246.033 Million

outstanding at the end of the year

24,603,300

Rs.246.033 Million

 

There were no Bonus issues, forfeited shares and buy back of shares in last five years.

 

Issued, subscribed and paid-up capital Equity shareholder holding more than 5% of equity shares along with the number of equity shares held is as given below.

 

Name of the shareholder

 

As at March 2014

 

No of shares

%

Bhagyanagar India Limited

5,787,946

23.52

Surana Telecom and Power Limited

4,410,000

17.92

Narender Surana

2,691,414

10.94

Devendra Surana

2,279,520

9.26

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2015

31.03.2014

31.03.2013

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

246.033

246.033

246.033

(b) Reserves & Surplus

232.480

177.755

176.190

(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)

478.513

423.788

422.223

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

6.624

161.399

176.383

(b) Deferred tax liabilities (Net)

8.187

6.987

6.819

(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)

14.811

168.386

183.202

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

649.091

254.278

114.743

(b) Trade payables

21.278

68.169

172.363

(c) Other current liabilities

65.211

80.634

26.577

(d) Short-term provisions

29.678

28.884

28.935

Total Current Liabilities (4)

765.258

431.965

342.618

 

 

 

 

TOTAL

1258.582

1024.139

948.043

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

295.545

306.368

313.232

(ii) Intangible Assets

0.105

0.733

8.852

(iii) Capital work-in-progress

118.516

136.251

114.649

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.200

0.200

0.300

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

5.997

1.905

16.683

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

420.363

445.457

453.716

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

599.809

352.741

300.687

(c) Trade receivables

105.124

130.952

94.498

(d) Cash and cash equivalents

74.069

56.101

51.027

(e) Short-term loans and advances

59.217

38.888

43.022

(f) Other current assets

0.000

0.000

5.093

Total Current Assets

838.219

578.682

494.327

 

 

 

 

TOTAL

1258.582

1024.139

948.043

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Income

1253.864

1290.544

949.090

 

Other Income

7.325

14.403

6.373

 

TOTAL

1261.189

1304.947

955.463

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

1066.731

1072.627

801.127

 

Manufacturing Expenses

0.000

80.675

67.471

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(124.077)

(76.300)

(88.774)

 

Power and Fuel

7.943

0.000

0.000

 

Packaging and forwarding

13.452

0.000

0.000

 

Employees benefits expense

27.031

30.124

30.054

 

AMORTISATION of Intangible Assets

0.000

8.119

8.119

 

Prior period adjustment

0.000

0.000

(0.177)

 

Other expenses

86.636

74.248

48.708

 

TOTAL

1077.716

1189.493

866.528

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

183.473

115.454

88.935

 

 

 

 

 

Less

FINANCIAL EXPENSES

52.993

29.087

29.829

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

130.480

86.367

59.106

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

28.641

32.831

23.194

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

101.839

53.536

35.912

 

 

 

 

 

Less

TAX

17.483

23.186

10.016

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

84.356

30.350

25.896

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

7.755

16.190

44.079

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

NA

10.000

25.000

 

Dividend

NA

24.603

24.603

 

Tax on Dividend

NA

4.182

4.182

 

 

 

 

 

 

Balance Carried to the B/S

NA

7.755

16.190

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

 NA

200.811

31.089

 

TOTAL EARNINGS

NA

200.811

31.089

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

NA

800.406

594.158

 

Capital Goods

NA

37.917

124.981

 

TOTAL IMPORTS

NA

838.323

719.139

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

1.71

1.23

1.05

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current maturities on long term debt

 

 

 

Car loan from Axis Bank Limited

NA

0.000

1.598

Car loan from HDFC Bank Limited

NA

1.584

1.584

Car loan from Kotak Mahindra Prime Limited

NA

0.384

0.000

Total

NA

1.968

3.182

 

 

 

 

Cash generated from operations

NA

(22.115)

127.271

Net cash flow from (used in) operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

6.73

2.35

2.73

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

14.63

8.95

9.37

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

8.93

6.03

4.31

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.21

0.13

0.09

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.37

0.98

0.69

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.10

1.34

1.44

 

STOCK PRICES

 

Face Value

Rs.10.00/-

Market Value

Rs.24.25/-

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

246.033

246.033

246.033

Reserves & Surplus

176.190

177.755

232.480

Share Application money pending allotment

0.000

0.000

0.000

Net worth

422.223

423.788

478.513

 

 

 

 

long-term borrowings

176.383

161.399

6.624

Short term borrowings

114.743

254.278

649.091

Total borrowings

291.126

415.677

655.715

Debt/Equity ratio

0.690

0.981

1.370

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

949.090

1290.544

1253.864

 

 

35.977

(2.842)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

949.090

1290.544

1253.864

Profit

25.896

30.350

84.356

 

2.73%

2.35%

6.73%

 

 

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

No

10

Date of Birth of Proprietor / Partners / Directors

No

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)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

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

No

35

Negative Reporting by Auditors in the Annual Report

No

 

UNSECURED LOAN

 

PARTICULARS

31.03.2015

(Rs. in Million)

31.03.2015

(Rs. in Million)

Long-term Borrowings

 

 

Loans and advances from body corporates

 

 

Bhagyanagar India Limited

NA

96.126

Total

NA

96.126

 

 

CONTINGENT LIABILITIES:

 

PARTICULARS

31.03.2015

(Rs. in Million)

31.03.2014

(Rs. in Million)

Guarantees issued by banks

NA

3.062

Letters of credit outstanding

NA

44.257

 

VIEW INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10321061

12/11/2011

100,000,000.00

CORPORATION BANK

D.NO.1-2-235, G & H, PARK LANE, M G ROAD, SECUNDE 
RABAD, ANDHRA PRADESH - 500003, INDIA

B26807529

2

10268161

28/02/2013 *

232,800,000.00

BANK OF INDIA

10-1-1199/2, 1ST FLOOR, P.T.I. BUILDING, A.C., GU 
ARDS, HYDERABAD-500004., HYDERABAD, ANDHRA PRADESH 
- 500004, INDIA

B72253776

3

10270585

08/08/2014 *

439,300,000.00

INDIAN OVERSEAS BANK

1-2-61 & 62,, PARKLANE, SECUNDERABAD, TELANGANA - 
500003, INDIA

C33626268

 

* Date of charge modification

 

FIXED ASSETS

 

Tangible Assets

 

  • Freehold Land
  • Leasehold Land
  • Commercial Buildings
  • Plant & Machinery
  • Wind Power Plant
  • Electrical Installation
  • Office Equipment
  • Vehicles
  • Furniture & Fixtures
  • Computer

 

 

Intangible Assets

 

  • Goodwill
  • Certification & License

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.63.49

UK Pound

1

Rs.99.17

Euro

1

Rs.69.39

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

SNT

 

 

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

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--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

YES

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

45

 

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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.