MIRA INFORM REPORT
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Report No. : |
327864 |
|
Report Date : |
18.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
ESSAR SHIPPING LIMITED |
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Registered
Office : |
Administrative Building, Essar Refinery Complex, Okha Highway (SH-25), Taluka Khambalia, Jamnagar – 361305, Gujarat |
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Tel. No.: |
91-2833-241444 |
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Country : |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
16.04.2010 |
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Com. Reg. No.: |
04-060285 |
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Capital
Investment / Paid-up Capital : |
Rs.2052.300 Million |
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CIN No.: [Company Identification
No.] |
L61200GJ2010PLC060285 |
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IEC No.: |
0810005077 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Public Limited Liability Company. The company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in fleet operating and chartering activities and operates in international and coastal voyages. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is established company incorporated in the year 2010, having
moderate track. Company is listed in BSE and NSE stock exchanges and its shares are
traded at around Rs.20 which is having face value of Rs.10 Rating takes into consideration deterioration in financial profile of
the company as reflected by continuous losses, unfavourable industry scenario
and weakening credit profile. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings with some caution. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term= BB (Suspended) |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
03.04.2015 |
Reason for suspension: Company has not furnished
the information required by CARE.
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
Management Non Co-operative (91-22-66601100)
LOCATIONS
|
Registered Office : |
Administrative Building, Essar Refinery Complex, Okha Highway (SH-25), Taluka Khambalia, Jamnagar – 361305, Gujarat, India |
|
Tel. No.: |
91-2833-241444 |
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Fax No.: |
91-2833-241414 |
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E-Mail : |
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Website : |
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Corporate Office : |
11, Keshavrao Khadye Marg, Mahalaxmi, Mumbai – 400034, Maharashtra, India |
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Tel. No.: |
91-22- 66601100 |
|
Fax No.: |
91-22-66601809 |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. P. K. Srivastava |
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Designation : |
Chairman |
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|
Name : |
Mr. A. R. Ramakrishnan |
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Designation : |
Managing Director |
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Name : |
Mr. Michael P. Pinto |
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Designation : |
Independent Non-Executive Director (Appointed as Additional Director with effect from August 7, 2013) |
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Name : |
Mr. N. Srinivasan |
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Designation : |
Independent Non-Executive Director |
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Name : |
Mr. N. C. Singhal |
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Designation : |
Independent Non-Executive Director (Appointed as Additional Director with effect from August 7, 2013) |
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Name : |
Captain Bhupinder Singh Kumar |
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Designation : |
Independent Non-Executive Director (Appointed as Additional Director with effect from August 7, 2013) |
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Name : |
Captain Anoop Kumar Sharma |
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Designation : |
Chief Executive Offi cer |
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Name : |
Mr. Ankur Gupta |
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Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Hitesh Kumar Jain |
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Designation : |
Company Secretary (From August 12, 2014) |
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Audit Committee : |
· Mr. Michael P. Pinto (Chairman) · Mr. N. Srinivasan · Captain Bhupinder Singh Kumar |
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Shareholders’ / Investors’ Grievance
Committee : |
· Captain Bhupinder Singh Kumar (Chairman) · Mr. A. R. Ramakrishnan · Captain Anoop Kumar Sharma |
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Nomination and
Remuneration Committee : |
· Mr. N. Srinivasan (Chairman) · Captain Bhupinder Singh Kumar · Mr. Michael P. Pinto · Mr. P. K. Srivastava |
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|
Corporate Social Responsibility Committee
: |
· Captain Bhupinder Singh Kumar (Chairman) · Mr. A. R. Ramakrishnan · Captain Anoop Kumar Sharma · Mr. Ankur Gupta |
SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
Bodies Corporate |
8152020 |
3.97 |
|
|
8152020 |
3.97 |
|
|
|
|
|
|
145768806 |
71.03 |
|
|
145768806 |
71.03 |
|
Total shareholding of Promoter and Promoter Group (A) |
153920826 |
75.00 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
17800 |
0.01 |
|
|
26327 |
0.01 |
|
|
120108 |
0.06 |
|
|
19378596 |
9.44 |
|
|
19542831 |
9.52 |
|
|
|
|
|
|
15519764 |
7.56 |
|
|
|
|
|
|
9404900 |
4.58 |
|
|
6215425 |
3.03 |
|
|
624022 |
0.30 |
|
|
624022 |
0.30 |
|
|
31764111 |
15.48 |
|
Total Public shareholding (B) |
51306942 |
25.00 |
|
Total (A)+(B) |
205227768 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
205227768 |
0.00 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Promoter and
Promoter Group
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
Essar Port Holdings Mauritius Limited |
12,43,62,408 |
60.60 |
|
Essar Shipping & Logistics Limited |
2,14,06,365 |
10.43 |
|
Essar Steel India Limited |
12,73,611 |
0.62 |
|
Imperial Consultants & Securities Private Limited |
68,78,409 |
3.35 |
|
Essar Global Fund Limited (formerly Essar Global Limited) |
33 |
0.00 |
|
Total |
15,39,20,826 |
75.00 |
Shareholding of securities (including shares, warrants, convertible
securities) of persons belonging to the category Public and holding more than
1% of the total number of shares
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
India Max Investment Fund Limited |
9080661 |
4.42 |
|
Leman Diversified Fund |
6427119 |
3.13 |
|
Clairvoyance Energy Private Limited |
3105000 |
1.51 |
|
Kredence Multi Trading Limited |
2675179 |
1.30 |
|
Subodh Maskara |
2604359 |
1.27 |
|
Stream Value Fund |
2280000 |
1.11 |
|
Total |
26172318 |
12.75 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in fleet operating and chartering activities and operates in international and coastal voyages. |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
· Yes Bank Limited · IDBI Bank Limited · Syndicate Bank · State Bank of India ·
Export-Import Bank of India |
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Facilities : |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
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Address : |
Ahmedabad, Gujarat, India |
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Collaborators : |
Not Divulged |
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Membership : |
Not Divulged |
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Ultimate holding
company : |
· Essar Global Fund Limited, Cayman Island |
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Immediate holding company
: |
· Essar Shipping and Logistics Limited, Cyprus |
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Subsidiaries : |
· Essar Logistics Limited, India · Energy Transportation International Limited, Bermuda · Energy II Limited, Bermuda · Essar Oilfields Services Limited, Mauritius · Essar Oilfield Services India Limited, India |
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|
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Associates : |
· Varada Drilling One Pte. Limited (w.e.f. 19.03.14) · Varada Drilling Two Pte. Limited (w.e.f. 19.03.14) |
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Fellow subsidiaries
where there have been transactions : |
· Aegis Limited · Essar Bulk Terminal Limited · Essar Oil Limited · Essar Ports Limited · Essar Projects India Limited · Essar Shipping (Cyprus) Limited · Essar Steel India Limited · Essar Power Gujarat Limited · Essar Steel Logistics Limited · Vadinar Oil Terminal Limited · Vadinar Ports and Terminals Limited |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital : Not Divulged
Issued, Subscribed & Paid-up Capital : Rs.2052.300 Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000000 |
Equity Shares |
Rs. 10/- each |
Rs.5000.000 Million |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
205227768 |
Equity Shares |
Rs. 10/- each |
Rs.2052.300 Million |
|
|
|
|
|
Reconciliation of the shares outstanding at
the beginning and at the end of the reporting period Equity shares of Rs.10/-
each
|
Equity Shares |
Number
of Shares |
Rs. In Million |
|
At the beginning of the year |
20,52,27,768 |
2052.300 |
|
Add: Issue of shares during the year |
-- |
-- |
|
At the end of the year |
20,52,27,768 |
2052.300 |
Terms of /
rights attached to equity shares
The Company has only one class of equity shares having par value of Rs.10/- per share. Each holder of the equity share is entitled to one vote per share. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
Shares held by
holding company /ultimate holding company, their subsidiaries and associates
|
Name of
Shareholder |
Number
of Shares |
Rs. In Million |
% holding |
|
Essar Shipping and Logistics Limited, the holding company |
14,57,68,773 |
145.77 |
71.03 |
|
Essar Global Fund Limited, the ultimate holding company |
33 |
0.00 |
0.00 |
|
Essar Steel India Limited, subsidiary of the ultimate holding company |
12,73,611 |
1.27 |
0.62 |
|
Total |
14,70,42,417 |
147.04 |
71.65 |
There are no shareholders holding more than 5% shares in the Company except as disclosed above.
Aggregate number of bonus shares issued, shares
issued for consideration other than cash and shares bought back during the
period of five years immediately preceding the date of the Balance Sheet.
|
Name of
Shareholder |
Number
of Shares |
|
Equity shares issued for consideration other than cash |
|
|
Issued as fully paid up pursuant to Scheme of arrangement |
-- |
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 |
2052.300 |
2052.300 |
2052.300 |
|
(b) Reserves & Surplus |
46000.100 |
46840.000 |
49430.100 |
|
(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) |
48052.400 |
48892.300 |
51482.400 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
15782.000 |
32765.600 |
31856.700 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
444.900 |
90.000 |
90.000 |
|
(d) long-term
provisions |
128.800 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
16355.700 |
32855.600 |
31946.700 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1756.800 |
1567.500 |
1357.200 |
|
(b) Trade
payables |
2417.300 |
1971.700 |
2299.700 |
|
(c) Other
current liabilities |
21349.300 |
5125.300 |
3642.800 |
|
(d) Short-term
provisions |
55.200 |
68.300 |
85.500 |
|
Total Current
Liabilities (4) |
25578.600 |
8732.800 |
7385.200 |
|
|
|
|
|
|
TOTAL |
89986.700 |
90480.700 |
90814.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
15004.300 |
16061.500 |
17455.800 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
52618.300 |
63633.800 |
64485.900 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4432.800 |
6047.900 |
4771.400 |
|
(e) Other
Non-current assets |
299.600 |
146.600 |
139.300 |
|
Total Non-Current
Assets |
72355.000 |
85889.800 |
86852.400 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
10990.300 |
1.000 |
1.000 |
|
(b)
Inventories |
141.800 |
227.200 |
373.100 |
|
(c) Trade receivables |
689.000 |
536.600 |
611.400 |
|
(d) Cash
and cash equivalents |
244.000 |
337.400 |
159.300 |
|
(e)
Short-term loans and advances |
4145.700 |
2140.000 |
2191.900 |
|
(f) Other
current assets |
1420.900 |
1348.700 |
625.200 |
|
Total Current
Assets |
17631.700 |
4590.900 |
3961.900 |
|
|
|
|
|
|
TOTAL |
89986.700 |
90480.700 |
90814.300 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7911.400 |
8736.700 |
14883.200 |
|
|
|
Other Income |
2077.600 |
1527.200 |
679.200 |
|
|
|
TOTAL (A) |
9989.000 |
10263.900 |
15562.400 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating expenses |
4800.600 |
5883.200 |
10162.600 |
|
|
|
Employee benefits expense |
1076.300 |
1139.200 |
1109.000 |
|
|
|
Other expenses |
594.300 |
413.300 |
226.600 |
|
|
|
Profit on slump sale of lighterage business |
0.000 |
(54.400) |
0.000 |
|
|
|
Loss on settlement of forward contracts |
0.000 |
0.000 |
502.000 |
|
|
|
TOTAL (B) |
6471.200 |
7381.300 |
12000.200 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3517.800 |
2882.600 |
3562.200 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
2863.200 |
3229.300 |
3072.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
654.600 |
(346.700) |
489.600 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
1439.600 |
1855.600 |
1390.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
(785.000) |
(2202.300) |
(900.500) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
45.000 |
89.200 |
32.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
(830.000) |
(2291.500) |
(932.500) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(2434.100) |
(142.600) |
789.900 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(3264.100) |
(2434.100) |
(142.600) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(4.04) |
(11.17) |
(4.54) |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
112.000 |
90.700 |
|
Cash generated from operations |
NA |
2785.100 |
4090.000 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin PAT / Sales |
(%) |
(10.49) |
(26.23) |
(6.27) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
44.46 |
32.99 |
23.93 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
(2.10) |
(8.20) |
(3.42) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.02) |
(0.05) |
(0.02) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.36 |
0.70 |
0.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.69 |
0.53 |
0.54 |
STOCK
PRICES
|
Face Value |
Rs.10/- |
|
Market Value |
Rs.20/- |
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 |
2052.300 |
2052.300 |
2052.300 |
|
Reserves & Surplus |
49430.100 |
46840.000 |
46000.100 |
|
Net
worth |
51482.400 |
48892.300 |
48052.400 |
|
|
|
|
|
|
long-term borrowings |
31856.700 |
32765.600 |
15782.000 |
|
Short term borrowings |
1357.200 |
1567.500 |
1756.800 |
|
Total
borrowings |
33213.900 |
34333.100 |
17538.800 |
|
Debt/Equity
ratio |
0.645 |
0.702 |
0.365 |
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 |
14883.200 |
8736.700 |
7911.400 |
|
|
|
(41.298) |
(9.446) |
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
|
14883.200 |
8736.700 |
7911.400 |
|
Profit |
(932.500) |
(2291.500) |
(830.000) |
|
|
(6.27%) |
(26.23%) |
(10.49%) |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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 |
31.03.2014 Rs.
In Million |
|
Long Term
Borrowings |
|
|
|
Foreign currency convertible bonds |
|
14424.000 |
|
Finance lease obligations |
|
3864.600 |
|
|
|
|
|
Short Term
Borrowings |
|
|
|
Loan from related parties |
|
6.600 |
|
Loan from others |
|
54.000 |
|
|
|
|
|
Total |
NA |
18349.200 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10541871 |
15/12/2014 |
300,000,000.00 |
State Bank of Hyderabad |
C-11, Mittal Tower, 1st Floor, 210, Nariman Point, Mumbai, Maharashtra - 400021, India |
C39874797 |
|
2 |
10521660 |
26/11/2014 * |
3,180,000,000.00 |
Yes Bank Limited |
Nehru
Centre, 9th Floor, Discovery Of India,, Dr. |
C39127022 |
|
3 |
10496136 |
03/05/2014 |
250,000,000.00 |
SREI Infrastructure Finance Limited |
Vishwakarma,86C,Topsia Road (South),, Kolkata, West Bengal - 700046, India |
C04886586 |
|
4 |
10463775 |
04/12/2013 |
700,000,000.00 |
Yes Bank Limited |
9th
Floor, Nehru Centre, Discovery Of India,, Dr. |
B90934555 |
|
5 |
10452230 |
10/05/2013 |
400,000,000.00 |
IDBI Trusteeship Services Limited |
Asian
Building, Ground Floor, 17, R. Kamani Marg, |
B77619476 |
|
6 |
10417789 |
10/04/2013 |
1,000,000,000.00 |
SREI Infrastructure Finance Limited |
Vishwakarma,86C,Topsia Road (South),, Kolkata, West Bengal - 700046, India |
B72615610 |
|
7 |
10417801 |
10/04/2013 |
1,400,000,000.00 |
SREI Infrastructure Finance Limited |
Vishwakarma,86C,Topsia Road (South),, Kolkata, West Bengal - 700046, India |
B72618374 |
|
8 |
10381303 |
10/10/2012 |
1,500,000,000.00 |
IDBI Bank Limited |
IDBI Tower WTC Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
B59987297 |
|
9 |
10382025 |
20/09/2012 |
4,401,000,000.00 |
State Bank of India |
Overseas Branch, 'The Arcade', World Trade Centre, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
B60269149 |
|
10 |
10378084 |
06/09/2012 |
813,800,000.00 |
Syndicate Bank |
2a, Eastcheap, London, - EC3M1LH, United Kingdom |
B58710435 |
|
11 |
10376372 |
29/08/2012 |
700,000,000.00 |
Export-Import Bank of India |
Centre
One Building, Floor No.21, World Trade Cen |
B58047770 |
|
12 |
10352216 |
02/05/2012 |
2,250,000,000.00 |
SREI Infrastructure Finance Limited |
Vishwakarma,86C,Topsia Road (South),, Kolkata, West Bengal - 700046, India |
B38397055 |
|
13 |
10333470 |
24/08/2012 * |
500,000,000.00 |
State Bank of India |
Overseas
Branch, World Trade Centre, Post Box. 16 |
B59006148 |
|
14 |
10308355 |
03/09/2011 |
11,592,000,000.00 |
Loans And Agency UK And Europe |
1, Basinghall Avenue, London EV2C 5DD, London, - EV2C500, United Kingdom |
B21596853 |
|
15 |
10301882 |
22/07/2011 |
708,750,000.00 |
Indian Overseas Branch (Acting Through Its Hong Kong Branch As The Lender) |
Maker Tower - E Wing, 5th Floor, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
B18695437 |
|
16 |
10300836 |
26/11/2014 * |
1,125,000,000.00 |
Yes Bank Limited |
Nehru
Centre, 9th Floor, Discovery Of India,, Dr. |
C39125695 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
· Fleet
· Plant and equipment
· Aircraft
· Furniture and Fixture
· Office equipment
· Vehicles
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 records 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.64.11 |
|
|
1 |
Rs.100.32 |
|
Euro |
1 |
Rs.72.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
30 |
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.