MIRA INFORM REPORT
|
Report No. : |
311330 |
|
Report Date : |
12.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
DHARMADEV INFRASTRUCTURE LIMITED (w.e.f.
15.03.2010) |
|
|
|
|
Formerly Known
As : |
DHARMADEV
INFRASTRUCTURE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
"Dharmadev
House", Shyamal Cross Road, Satellite, Ahmedabad – 380 015, Gujarat |
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2013 |
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|
Date of
Incorporation : |
16.08.2005 |
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|
Com. Reg. No.: |
04-046616 |
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Capital
Investment / Paid-up Capital : |
Rs.76.600 million |
|
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|
|
CIN No.: [Company Identification
No.] |
U45200GJ2005PLC046616 |
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|
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IEC No.: |
Not Available |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMD03692D |
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|
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PAN No.: [Permanent Account No.] |
AACCD3566F |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is a real estate development company, undertaking various
residential and commercial projects. |
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|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2373000 |
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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 an
established company having moderate track record. The management
has failed to file its financial record with government department for the
year 2014. As per available financial
of 2013, the rating is constrained on account of increased external borrowing
over previous year and declining in profit of the company. Further rating
also takes into consideration project implementation and saleability risks
associated with its large number of ongoing real estate projects and inherent
risk associated with the competitive and cyclical real estate industry. However, trade
relations are fair. Business is active. Payments are reported to be slow but
correct. The company can
be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
CARE |
|
Rating |
Long Term Bank Facilities: BB |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
07.01.2015 |
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
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. Hamil Patel |
|
Designation : |
Purchase Department |
|
Contact No.: |
91-9909988192 |
|
Date : |
11.03.2015 |
LOCATIONS
|
Registered Office : |
"Dharmadev
House", Shyamal Cross Road, Satellite, Ahmedabad – 380 015, Gujarat,
India |
|
Tel. No. : |
91-79-26750364/ 26730356 |
|
Mobile No. : |
91-9909988192 (Mr. Hamil Patel) |
|
Fax No. : |
91-79-26731038 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 28.09.2013
|
Name : |
Mr. Umang Hiralal Thakkar |
|
Designation : |
Director |
|
Address : |
Swaminarayan
Kutir, Opposite YMCA Club, S.G. Highway, Ahmedabad – 380 054, Gujarat, India |
|
Date of Appointment : |
16.08.2005 |
|
DIN No. : |
00276003 |
|
PAN No.: |
AAVPT8621R |
|
|
|
|
Name : |
Ms. Kanaklataben Umangkumar Thakkar |
|
Designation : |
Director |
|
Address : |
Swaminarayan
Kutir, Opposite YMCA Club, S.G. Highway, Ahmedabad – 380 054, Gujarat, India |
|
Date of Appointment : |
20.11.2006 |
|
DIN No. : |
01684100 |
|
PAN No.: |
AALPT4206G |
|
|
|
|
Name : |
Mr. Mitesh Anilbhai Thakkar |
|
Designation : |
Director |
|
Address : |
6, Mohilappar Tent, Maninagar, Ahmedabad –
380 008, Gujarat, India |
|
Date of Appointment : |
02.01.2007 |
|
DIN No. : |
01684129 |
|
|
|
|
Name : |
Mr. Neel Umangbhai Thakkar |
|
Designation : |
Director |
|
Address : |
Swaminarayan
Kutir, Opposite YMCA Club, S.G. Highway, Ahmedabad – 380 054, Gujarat, India |
|
Date of Appointment : |
22.07.2013 |
|
DIN No. : |
06417718 |
KEY EXECUTIVES
|
Name : |
Mr. Hamil Patel |
|
Designation : |
Purchase Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2013
|
Names of Shareholders |
No. of Shares |
|
Umang Hiralal Thakkar |
749500 |
|
Kanaklataben
Umangkumar Thakkar |
750000 |
|
Netra Thakkar
|
6160100 |
|
Bhupendra Shantilal Chatwani |
100 |
|
Pravinchandra M. Gandhi |
100 |
|
Mahendra R. Barot |
100 |
|
Hiralal Dayaram Thakkar |
100 |
|
Total |
7660000 |
AS ON 28.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is a real estate development company, undertaking various
residential and commercial projects. |
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Products/ Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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 : |
·
UCO Bank, Mid Corporate Branch, UCO Bhavan
Ashram Road, Ahmedabad – 380 009, Gujarat, India ·
Central Bank of India, Mid Corporate
Finance Branch, 1st Floor, Central Bank Building, Lal Darwaja,
Ahmedabad – 380 001, Gujarat, India ·
Kotak Mahindra Bank Limited, Ground Floor,
Chandan House, Opposite Abhijeet III, Near Mithakhadi Six Road, Navrangpura,
Ahmedabad – 380 009, Gujarat, India ·
The Karur Vysya Bank Limited, Sakarvii
Ground Floor, Near Nehru Bridge Corner, Ashram Road, Ahmedabad – 380 009,
Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institutions : |
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Auditors : |
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|
Name : |
Saurabh C. Choksi and Company Chartered Accountants |
|
Address : |
25/26, 1st Floor, National Chambers, Near City Gold Cinema, Ashram Road, Ahmedabad – 380 009, Gujarat, India |
|
PAN
No.: |
AAHPC0632N |
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|
|
|
Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates : |
|
CAPITAL STRUCTURE
AS ON 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7670000 |
Equity Shares |
Rs.10/- each |
Rs.76.700 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7660000 |
Equity Shares |
Rs.10/- each |
Rs.76.600 million |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)
Shareholders' Funds |
|
|
|
|
(a) Share Capital |
76.600 |
76.600 |
66.600 |
|
(b) Reserves & Surplus |
753.924 |
667.655 |
376.572 |
|
(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) |
830.524 |
744.255 |
443.172 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
601.463 |
111.596 |
235.047 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
601.463 |
111.596 |
235.047 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1197.527 |
811.489 |
559.642 |
|
(b) Trade
payables |
151.478 |
65.641 |
101.732 |
|
(c) Other
current liabilities |
1589.602 |
1909.341 |
1792.290 |
|
(d) Short-term
provisions |
71.048 |
61.390 |
41.773 |
|
Total Current
Liabilities (4) |
3009.655 |
2847.861 |
2495.437 |
|
|
|
|
|
|
TOTAL |
4441.642 |
3703.712 |
3173.656 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
27.112 |
7.136 |
8.456 |
|
(ii)
Intangible Assets |
1.155 |
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 |
113.615 |
116.522 |
116.923 |
|
(c) Deferred tax assets (net) |
0.382 |
0.291 |
0.000 |
|
(d) Long-term Loan and Advances |
295.606 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
3.568 |
8.485 |
0.000 |
|
Total Non-Current
Assets |
441.438 |
132.434 |
125.379 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
59.362 |
35.327 |
15.303 |
|
(b)
Inventories |
2285.581 |
1870.311 |
1392.773 |
|
(c) Trade
receivables |
0.000 |
55.000 |
55.051 |
|
(d) Cash
and cash equivalents |
25.622 |
25.513 |
104.610 |
|
(e)
Short-term loans and advances |
1629.639 |
1585.127 |
1480.540 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
4000.204 |
3571.278 |
3048.277 |
|
|
|
|
|
|
TOTAL |
4441.642 |
3703.712 |
3173.656 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
1017.033 |
669.198 |
581.372 |
|
|
|
Other Income |
10.859 |
10.351 |
97.869 |
|
|
|
TOTAL |
1027.892 |
679.549 |
679.241 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
579.878 |
385.692 |
771.281 |
|
|
|
Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
(397.062) |
(285.159) |
(793.656) |
|
|
|
Employee benefit expense |
32.282 |
29.466 |
22.978 |
|
|
|
Other expenses |
440.620 |
227.683 |
288.251 |
|
|
|
TOTAL |
655.718 |
357.682 |
288.854 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
372.174 |
321.867 |
390.387 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
240.838 |
177.195 |
126.222 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
131.336 |
144.672 |
264.165 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4.793 |
2.344 |
2.073 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
126.543 |
142.328 |
262.092 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
31.371 |
32.342 |
33.093 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
95.172 |
109.986 |
228.999 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
342.655 |
241.572 |
20.232 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend |
7.660 |
7.660 |
6.660 |
|
|
|
Tax on Dividend |
1.243 |
1.243 |
0.999 |
|
|
BALANCE CARRIED TO
THE B/S |
428.924 |
342.655 |
241.572 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
12.42 |
14.36 |
34.47 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
9.36 |
16.44 |
39.39 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Sales) |
(%) |
36.59 |
48.10 |
67.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.92 |
3.97 |
8.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.19 |
0.59 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.17 |
1.24 |
1.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33 |
1.25 |
1.22 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Million) |
(INR in Million) |
(INR in Million) |
|
Share Capital |
66.600 |
76.600 |
76.600 |
|
Reserves & Surplus |
376.572 |
667.655 |
753.924 |
|
Net worth |
443.172 |
744.255 |
830.524 |
|
|
|
|
|
|
Long Term borrowings |
235.047 |
111.596 |
601.463 |
|
Short Term borrowings |
559.642 |
811.489 |
1197.527 |
|
Total borrowings |
794.689 |
923.085 |
1798.990 |
|
Debt/Equity ratio |
1.793 |
1.240 |
2.166 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Million) |
(INR in Million) |
(INR in Million) |
|
Revenue from operations |
581.372 |
669.198 |
1017.033 |
|
|
|
15.107 |
51.978 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Million) |
(INR in Million) |
(INR in Million) |
|
Revenue from operations |
581.372 |
669.198 |
1017.033 |
|
Profit |
228.999 |
109.986 |
95.172 |
|
|
39.39% |
16.44% |
9.36% |
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 |
No |
|
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 |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
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 |
OPERATIONAL REVIEW
The Company has achieved turnover of Rs.1017.032 million as compared to
Rs.669.198 million during the previous year. There is profit before
depreciation, interest and tax of Rs.372.174 million (Previous year Rs.321.867
million). After charging depreciation of Rs.4.793 million (Previous year
Rs.2.344 million) and interest of Rs.240.838 million (Previous year Rs.177.195
million), there is profit after tax of Rs.95.172 million (Previous year profit
of Rs.109.986 million). Barring unforeseen circumstances, the result for the
year under progress is likely to be good.
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 (Rs.
In Million) |
31.03.2012 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Rupee term loans from others |
282.682 |
0.000 |
|
SHORT TERM
BORROWINGS |
|
|
|
Rupee term loans from others |
304.454 |
393.084 |
|
Total |
587.136 |
393.084 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10510924 |
10/07/2014 |
230,000,000.00 |
TOURISM FINANCE
CORPORATION OF INDIA LIMITED |
IFCI TOWER, 13TH FLOOR,
61 NEHRU PLACE, DELHI, DELHI - 110019, INDIA |
C13007430 |
|
2 |
10462613 |
26/11/2013 |
75,000,000.00 |
BANK OF MAHARASHTRA |
RAJA COMPLEX, 1ST FLOOR,
VIJAY CHAR RASTA NAVARANGPURA, AHMEDABAD, GUJARAT - 380009, INDIA |
B90512518 |
|
3 |
10437647 |
25/06/2013 * |
650,000,000.00 |
CENTRAL BANK OF INDIA |
MID CORPORATE FINANCE
BRANCH, 1ST FLOOR, CENTRAL |
B80272420 |
|
4 |
10424907 |
03/05/2013 |
400,000,000.00 |
ALLAHABAD BANK |
S P NAGAR BRANCH, ACME
CENTREE, NR. NAVRANGPURA RAILWAY CROSSING, AHMEDABAD, GUJARAT - 380009, INDIA |
B74693508 |
|
5 |
10411632 |
03/06/2014 * |
200,000,000.00 |
BANK OF INDIA |
AHMEDABAD MID CORP
BRANCH, 1ST FLOOR, BOI BLDG, NEAR SWASTIK CHAR RASTA, C. G. ROAD,
NAVRANGPURA, AHMEDABAD, GUJARAT - 380009, INDIA |
C08926826 |
|
6 |
10410445 |
18/02/2013 |
280,000,000.00 |
UNION BANK OF INDIA
(VASTRAPUR BRANCH) |
HARI MAJNUL, NEAR KETAV
PETROL PUMP, POLYTECHNIC, AHMEDABAD, GUJARAT - 380015, INDIA |
B70021639 |
|
7 |
10389283 |
09/11/2012 * |
400,000,000.00 |
CENTRAL BANK OF INDIA |
ASHRAM ROAD, AHMEDABAD, GUJARAT
- 380009, INDIA |
B63418339 |
|
8 |
10386606 |
08/10/2012 |
50,000,000.00 |
SREI EQUIPMENT FINANCE
PRIVATE LIMITED |
'VISHWAKARMA', 86C,
TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B62099957 |
|
9 |
10215540 |
28/08/2013 * |
430,000,000.00 |
STATE BANK OF INDIA |
AHMEDABAD MAIN BRANCH,
SPECIALISED PERSONAL, BANKING BRANCH, LAL DARWAJA, BHADRA, AHMEDABAD, GUJARAT
- 380001, INDIA |
B97343792 |
* Date of charge modification
FIXED ASSETS
Tangible Assets
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
Intangible Assets
·
Computer Software
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.62.75 |
|
|
1 |
Rs.94.60 |
|
Euro |
1 |
Rs.67.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
-- PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
|
34 |
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.