MIRA INFORM REPORT
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Report No. : |
313089 |
|
Report Date : |
17.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
NETMAGIC IT SERVICES PRIVATE LIMITED |
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Registered
Office : |
2nd Floor (North Side) - Netmagic Annex, Block B-2, Nirlon Knowledge
Park, Off Western Express Highway, Goregaon (East), Mumbai – 400063,
Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of Incorporation
: |
10.06.2005 |
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Com. Reg. No.: |
11-153896 |
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Capital
Investment / Paid-up Capital : |
Rs.45.000 Million |
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CIN No.: [Company Identification
No.] |
U72900MH2005PTC153896 |
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TIN No.: |
Not Available |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN13739F |
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PAN No.: [Permanent Account No.] |
AACCN2366D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company provides Internet Data Centre and Managed
Hosting, Cloud Computing, Disaster Recovery, Managed Security, Application
Hosting, Messaging and Collaboration and Infrastructure Management services. |
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No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of “NETMAGIC SOLUTIONS PRIVATE LIMITED”. It is an
established company having satisfactory track. The company has incurred loss from its operational activities. However, the rating takes into consideration strong financial and
managerial support that company receives from its parent company marked by
experienced promoter, long track record of operations and diversified
customer base. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. In view of strong holding support, the company can be considered for
business dealings at usual trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = A |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
14.04.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A1 |
|
Rating Explanation |
Strong degree of safety and lowest credit
risk. |
|
Date |
14.04.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Viral Shah |
|
Designation : |
Account Manager |
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Contact No.: |
91-22-40099099 |
|
Date : |
16.03.2015 |
LOCATIONS
|
Registered Office : |
2nd Floor (North Side) - Netmagic Annex, Block B-2, Nirlon Knowledge
Park, Off Western Express Highway, Goregaon (East), Mumbai – 400063,
Maharashtra, India |
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Tel. No.: |
91-22-40099099 |
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Mobile No.: |
91-9321935577 (Mr. Mahesh) |
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Fax No.: |
91-22-40099101 |
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E-Mail : |
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Branch Offices: |
Located at: · Mumbai · Chennai · Pune · Bangalore · Delhi |
DIRECTORS
As on 21.07.2014
|
Name : |
Mr. Sharad Kumar Sanghi |
|
Designation : |
Managing Director |
|
Address : |
23, Seagull Carmichal Road, Mumbai – 400026, Maharashtra, India |
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Date of Birth/Age : |
28.10.1966 |
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Date of Appointment : |
10.06.2005 |
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DIN No.: |
00265977 |
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Name : |
Mr. Varghese Thomas |
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Designation : |
Director |
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Address : |
Apartment No.7A, Neptune Apartment, Juhu Tara Road, Juhu, Vile Parle
(West), Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1977 |
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Date of Appointment : |
29.08.2012 |
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DIN No.: |
05259148 |
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Name : |
Mr. Hideki Kurihara |
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Designation : |
Director |
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Address : |
310, Kamikitazaw3a Setagaya Tokyo Japan 1560057 |
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Date of Birth/Age : |
14.06.1965 |
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Date of Appointment : |
29.08.2012 |
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DIN No.: |
05276363 |
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Name : |
Mr. Sunil Gupta |
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Designation : |
Director |
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Address : |
148, Hopes Apartment, Sec 15 Part, Gurgaon – 122001, Haryana, India |
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Date of Birth/Age : |
28.10.1966 |
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Date of Appointment : |
29.08.2012 |
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DIN No.: |
06361812 |
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Name : |
Shigeki Hayashi |
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Designation : |
Additional Director |
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Address : |
131, 311 1 Naka Kunitachi Shi Tokyo Japan 1860004 |
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Date of Birth/Age : |
22.06.1967 |
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Date of Appointment : |
12.09.2013 |
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DIN No.: |
06672452 |
KEY EXECUTIVES
|
Name : |
Mr. Viral Shah |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS
As on 21.07.2014
|
Names of Shareholders |
|
No. of Shares |
|
Netmagic Solution Private Limited, India |
|
4499999 |
|
Sharad Sanghi |
|
1 |
|
Total |
|
4500000 |
Equity Share Break up (Percentage of Total Equity)
As on 21.07.2014
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company provides Internet Data Centre and Managed
Hosting, Cloud Computing, Disaster Recovery, Managed Security, Application Hosting,
Messaging and Collaboration and Infrastructure Management services. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash and Credit (30 Days, 60 Days and 90 Days) |
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Purchasing : |
Cash and Credit (30 Days, 60 Days and 90 Days) |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
20 (Approximately) |
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Bankers : |
·
Axis Bank Limited, Corporate Banking Branch, Axis House,
Ground Floor, Wadia International Centre, Worli, Mumbai – 400025,
Maharashtra, India ·
Mizuho Bank Limited (Formerly known as
Mizuho Corporate Bank Limited), Maker Chamber III, Nariman Point, Mumbai – 400021, Maharashtra, India |
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Facilities : |
Cash Credit = Rs.40.000 Million (From Axis Bank Limited)
Notes: Long Term Borrowings Details of security Primary: Exclusive first charge on entire movable and immovable fixed assets of the Company (excluding Vehicles) current assets both present and future on pari passu basis Collateral: Second charge by way of hypothecation of Company's entire current assets including stock and receivables both present and future of the company on pari passu basis. Exclusive Collateral: Common collateral for working capital and term loan: Lien on fixed deposits standing in the name of the Holding Company aggregating Rs.31.58 million. Corporate guarantee given by Holding Company Terms of repayment: The term loans from bank are repayable in equated monthly instalments beginning from January 2013 and payable by February 2017. The rate of interest of the loans falls within the range of 10.65% to 12.75%. Details of Finance Lease: The Company has entered into finance lease arrangements for purchase of Computer, Computer Software and Networking Equipments, which provides the Company an option to purchase the assets at the end of the lease period. The assets purchased are hyphothecated against the finance lease. The Company is jointly liable with the Holding Company for payment of lease obligation Terms of Repayment: Lease
payment are payable over a period of 12-36 months from date of purchase. |
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Auditors : |
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Name : |
B S R and Company Chartered Accountants |
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Address : |
Lodha Excelus,1st Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalakshmi, Mumbai – 400011, Maharashtra, India |
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PAN No.: |
AAIFB7357B |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding Company |
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Ultimate
Holding Company : |
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Company in which KMP / Relatives of KMP
can exercise significant influence : |
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Fellow
Subsidiary : |
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CAPITAL STRUCTURE
As on 21.07.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Million |
|
20000000 |
Preference Shares |
Rs.10/- each |
Rs.200.000 Million |
|
|
Total |
|
Rs.250.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs.45.000 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 |
45.000 |
45.000 |
0.100 |
|
(b) Reserves & Surplus |
55.850 |
63.200 |
72.840 |
|
(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) |
100.850 |
108.200 |
72.940 |
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1,247.750 |
999.020 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
3.410 |
0.000 |
|
(c) Other long term
liabilities |
253.300 |
222.150 |
0.000 |
|
(d) long-term
provisions |
42.050 |
40.920 |
5.750 |
|
Total Non-current
Liabilities (3) |
1,543.100 |
1,265.500 |
5.750 |
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
180.000 |
137.290 |
0.000 |
|
(b) Trade
payables |
312.200 |
202.500 |
7.620 |
|
(c) Other
current liabilities |
488.360 |
221.640 |
2.500 |
|
(d) Short-term
provisions |
31.440 |
5.700 |
0.060 |
|
Total Current
Liabilities (4) |
1,012.000 |
567.130 |
10.180 |
|
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|
|
|
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TOTAL |
2,655.950 |
1,940.830 |
88.870 |
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II.
ASSETS |
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|
(1)
Non-current assets |
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|
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(a) Fixed
Assets |
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|
|
|
(i)
Tangible assets |
1,334.590 |
1,236.500 |
6.590 |
|
(ii) Intangible
Assets |
22.210 |
15.990 |
0.000 |
|
(iii)
Capital work-in-progress |
365.440 |
12.730 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.720 |
|
(d) Long-term Loan and Advances |
316.960 |
107.720 |
13.200 |
|
(e) Other
Non-current assets |
0.060 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2,039.260 |
1,372.940 |
20.510 |
|
|
|
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(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2.470 |
0.000 |
0.000 |
|
(c) Trade
receivables |
421.340 |
350.500 |
8.270 |
|
(d) Cash
and cash equivalents |
54.240 |
101.570 |
46.820 |
|
(e) Short-term
loans and advances |
138.580 |
115.820 |
13.240 |
|
(f) Other
current assets |
0.060 |
0.000 |
0.030 |
|
Total
Current Assets |
616.690 |
567.890 |
68.360 |
|
|
|
|
|
|
TOTAL |
2,655.950 |
1,940.830 |
88.870 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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|
SALES |
|
|
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|
|
Income |
2,236.940 |
1,295.940 |
70.250 |
|
|
|
Other Income |
2.890 |
5.340 |
3.910 |
|
|
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TOTAL (A) |
2,239.830 |
1,301.280 |
74.160 |
|
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Less |
EXPENSES |
|
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|
|
|
|
Cost of Materials Consumed |
1,318.600 |
805.980 |
38.980 |
|
|
|
Purchase of Stock-in-trade |
459.740 |
236.920 |
8.430 |
|
|
|
TOTAL (B) |
1,778.340 |
1,042.900 |
47.410 |
|
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PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
461.490 |
258.380 |
26.750 |
|
|
|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
89.580 |
37.400 |
0.000 |
|
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|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
371.910 |
220.980 |
26.750 |
|
|
|
|
|
|
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|
Less |
DEPRECIATION/
AMORTISATION (F) |
382.110 |
225.910 |
2.550 |
|
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PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
(10.200) |
(4.930) |
24.200 |
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Less |
TAX (H) |
(2.850) |
4.710 |
6.050 |
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|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
7.350) |
(9.640) |
18.150 |
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
63.200 |
72.840 |
54.690 |
|
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|
|
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|
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BALANCE CARRIED
TO THE B/S |
55.850 |
63.200 |
72.840 |
|
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EARNINGS IN
FOREIGN CURRENCY |
179.120 |
64.060 |
39.450 |
|
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Earnings / (Loss)
Per Share (Rs.) |
(1.63) |
(4.75) |
NA |
|
Expected Sales (2014-2015): Rs.300.000 Million
The above information has been parted by Mr. Viral Shah
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(0.33) |
(0.74) |
25.84 |
|
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|
|
|
|
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Operating Profit Margin (PBDIT/Sales) |
(%) |
20.63 |
19.94 |
38.08 |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.45) |
(0.26) |
27.45 |
|
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|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.10) |
(0.05) |
0.33 |
|
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|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
14.16 |
10.50 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.61 |
1.00 |
6.72 |
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 |
0.100 |
45.000 |
45.000 |
|
Reserves & Surplus |
72.840 |
63.200 |
55.850 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
72.940 |
108.200 |
100.850 |
|
|
|
|
|
|
Long Term borrowings |
0.000 |
999.020 |
1247.750 |
|
Short Term borrowings |
0.000 |
137.290 |
180.000 |
|
Total
borrowings |
0.000 |
1136.310 |
1427.750 |
|
Debt/Equity
ratio |
0.000 |
10.502 |
14.157 |
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 |
70.250 |
1,295.940 |
2,236.940 |
|
|
|
1,744.754 |
72.611 |
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
|
70.250 |
1,295.940 |
2,236.940 |
|
Profit |
18.150 |
(9.640) |
(7.350) |
|
|
25.84% |
(0.74%) |
(0.33%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Million
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long term debt |
219.400 |
91.460 |
0.000 |
|
Total |
219.400 |
91.460 |
0.000 |
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
LONG TERM BORROWINGS |
|
|
|
Debentures issued to Holding Company |
628.080 |
628.080 |
|
Total |
628.080 |
628.080 |
Notes:
Long Term Borrowings
Details of
debentures issued
The Company has issued 6,280,845-0.1% unsecured non-convertible debentures of Rs.100/- each to its Holding Company
Terms of
repayment:
The debentures are due for automatic redemption over 5 equal annual instalments commencing from March 20, 2019.
Borrowing
Costs
Borrowing costs that are attributable to the acquisition or construction of qualifying assets are capitalised as part of the cost of such assets. A qualifying asset is one that necessarily takes a substantial period of time to get ready for its intended use or sale. All other borrowing costs are charged to revenue.
CORPORATE INFORMATION:
The Company was incorporated on June 10, 2005. It is 100% subsidiary of Netmagic Solutions Private Limited. The Company is in the business of managed IT hosting services with state-of-the-art datacenter spread across Bangalore, Chennai, Mumbai and Noida. The Company provides Internet Data Centre and Managed Hosting, Cloud Computing, Disaster Recovery, Managed Security, Application Hosting, Messaging and Collaboration and Infrastructure Management services to many domestic and global enterprise customers from across verticals.
OPERATIONS AND THE YEAR:
The Company is a 100 % subsidiary of Netmagic Solutions Private Limited which has 74 % stake holding of NTT Communications Group of Japan. NTT Communications Corporation subject to necessary regulatory approvals acquired 74% direct equity stake in Netmagic Solutions Private Limited and consequently an equivalent indirect stake in the Company with effect from August 29, 2012. This transaction has enabled the Company to leverage NTT Communications Corporations existing infrastructure and network capability and accelerate enhancement of the Companys global cloud services for the provision of high-quality ICT services. The addition of the Companys datacenter services and sites will expand NTT Communications Corporations capability to provide one-stop ICT solutions in the fast-growing Indian market, as well as accelerate its offering of globally seamless cloud services through expanded ICT infrastructure Asia-wide.
The Company is India's only Datacenter Infrastructure Lifecycle Management (DILM) service provider. It delivers services to plan, design, manage, support and migrate IT infrastructure running mission-critical applications for over 1200 enterprises across the globe.
The Company along with its immediate parent company has been a pioneer in the Indian IT Infrastructure-as-a-service space and amongst the first to bring to market several services including Public Cloud, Computing (SimpliCloud), Hybrid Cloud Computing, Managed Security Services and Disaster recovery as a Service (DRaaS).
The Company delivers services from 8 carrier-neutral, state-of-the-art datacenters located in Mumbai, Bangalore, Noida (Delhi-NCR) and Chennai with over 2,00,000 sq. ft. floor space. Its Chennai datacenter is the only Gold LEED certified datacenter by USGBC in India. The 8th datacenter at Electronics City, Bangalore got operational during the year and is seeing lot of traction in terms of datacenter services.
The Company is ISO 27001, ISO 9001:2008 and ISO 20000-1 certified and its processes are designed as per the ITIL framework.
Considering the business exigencies, as part of an internal group restructuring Netmagic Solutions Private Limited has transferred its Data Center business (includes managed information technology services, specializing in internet data center & managed hosting, infrastructure management, managed security, cloud computing, application hosting, messaging & collaboration, disaster recovery and availability and professional services but excludes bandwidth services), to the Company with effect from July 1, 2012.
The Company achieved a Turnover of Rs.2236.940 million during the F.Y. 2013-14. Substantial investment into business infrastructure and increase in provision for depreciation led to a Net Loss before Tax of Rs.10.200 million as against Net Loss before Tax of Rs.4.930 million in the previous year. The increase in revenue and operations in the F.Y. 2013-14 compared to the last F.Y. 2012-13 is due to acquisition of the Data Center business by the Company from its holding company Netmagic Solutions Private Limited with effect from July 1, 2012.
The Company’s business improved substantially due to better recognition and acceptance in IT enabled Services market. The state-of-art data centers of the Company at across various locations in India i.e. 4 in Mumbai, 2 at Bangalore and 1 each at Noida and Chennai) are proving good business. As mentioned earlier, the data center operations of the Company at Electronics City, Bangalore (DC 2) went live during the year. The Company added key customers during the year and most of the existing customers renewed their services for further terms.
The Company continued to focus on high margin services like Cloud Services, Infrastructure Management Services (IMS), Data Vault Storage, Disaster Recovery (DR), SAP Applications and related Professional services which supplemented the existing Co-location and Managed Services of the Company. Focus on automation and optimization of data center operations and related processes have also lead to further improvement of business efficiencies.
Considering the overall business prospects, your Company is confident of continued growth in its top line in the next year.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10468389 |
26/12/2013 |
200,000,000.00 |
MIZUHO
BANK LTD (Formerly Known As Mizuho Corporat |
MAKER CHAMBER III,, NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B92770551 |
|
2 |
10407118 |
25/02/2013 |
500,000,000.00 |
Mizuho Corporate Bank Limited |
Mumbai Branch, Maker Chambers Iii, 1st Floor,, Jamnalal Bajaj Road, Nariman Point,, Mumbai, Maharashtra - 400021, India |
B69230381 |
|
3 |
10407720 |
04/02/2014 * |
40,000,000.00 |
Axis Bank Limited |
Corporate Banking Branch, Axis House, Ground Floor, Wadia International Centre, Worli, Mumbai, Maharashtra - 400025, India |
C00270496 |
|
4 |
10407725 |
22/01/2013 |
397,600,000.00 |
Axis Bank Limited |
Corporate Banking Branch, Axis House,, Ground Floor, Wadia International Centre, Worli,, Mumbai, Maharashtra - 400025, India |
B69505113 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.62.82 |
|
|
1 |
Rs.92.83 |
|
Euro |
1 |
Rs.66.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
42 |
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.