MIRA INFORM REPORT
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Report No. : |
320531 |
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Report Date : |
04.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
SMC INFRASTRUCTURES PRIVATE LIMITED (w.e.f. 02.03.2001) |
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Formerly Known
As : |
SHETH MASURKAR CONSTRUCTION LIMITED (w.e.f. 23.06.1990) SHETH MASURKAR CONSTRUCTION PRIVATE LIMITED |
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Registered
Office : |
101, Ackruti - SMC, Khopat, L.B.S. Marg, Thane – 400601, Maharashtra |
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Tel. No.: |
91-22-25376700 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
14.06.1982 |
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Com. Reg. No.: |
11-027432 |
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Capital
Investment / Paid-up Capital : |
Rs. 9.520 Million |
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CIN No.: [Company Identification
No.] |
U45200MH1982PTC027432
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AACCS3437L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject engaged in the Infrastructure Sector primarily in the Construction of Water Supply Projects, Roads, Bridges and Flyovers etc. |
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No. of Employees
: |
450 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track record. Financial position of the company seems to be decent. The rating takes into consideration professionally qualified and
experienced promoters, established track record in the water and waste water
treatment projects. Trade relations are reported as fair. Business is active. Payments
terms are reported to be regular and as per commitment. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Bank Facilities - Fund Based - Long-term
Cash Credit: “A” |
|
Rating Explanation |
Have adequate degree of safety and carry low
credit risk. |
|
Date |
10.04.2015 |
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Rating Agency Name |
CARE |
|
Rating |
Bank Facilities – Fund Based –
Short-term LC/ BG: “A1” |
|
Rating Explanation |
Have very strong degree of safety and carry
lowest credit risk. |
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Date |
10.04.2015 |
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 PARTED BY
|
Name : |
Ms. Shruti Desai |
|
Designation : |
Finance Manager |
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Contact No.: |
91-22-25334143 |
|
Date : |
02.05.2015 |
LOCATIONS
|
Registered Office : |
101, Ackruti - SMC, Khopat, L.B.S. Marg, Thane – 400601, Maharashtra,
India |
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Tel. No. : |
91-22-25376700/ 25334143 |
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Fax No. : |
91-22-25367074 |
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E-Mail : |
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Website : |
DIRECTORS
As on 30.09.2014
|
Name : |
Arun Ramchandra Sheth |
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Designation : |
Managing Director |
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Address : |
7/20, Kamana Co-Op Society No.1, S K Bhole Road, Near
Siddhivinayak Temple, Prabhadevi, Mumbai - 400028, Maharashtra, India |
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Date of Birth/Age : |
27.11.1940 |
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Date of Appointment : |
14.06.1982 |
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PAN No.: |
ALZPS2005D |
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DIN No. : |
00815866 |
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Name : |
Aniruddha Arun Sheth |
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Designation : |
Director |
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Address : |
501,Padmaprabhu Apts,, 1174, V.S. Road, Prabhadevi,, Mumbai - 400028, Maharashtra, India |
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Date of Birth/Age : |
19.05.1967 |
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Date of Appointment : |
03.12.2003 |
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PAN No. : |
ACXPS6804P |
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DIN No. : |
01299773 |
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Name : |
Suhas Narayan Mehta |
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Designation : |
Director |
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Address : |
701A, Sita Vihar, Damani Estate, L.B.S. Marg, Thane (West), Thane - 400602, Maharashtra, India |
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Date of Birth/Age : |
11.11.1960 |
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Date of Appointment : |
03.12.2003 |
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PAN No. : |
AEMPM9799J |
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DIN No. : |
01430022 |
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Name : |
Prashant Madhusudan Mahagaokar |
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Designation : |
Director |
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Address : |
Kasturi Towers L.B.S. Marg, Thane - 400602, Maharashtra, India |
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Date of Birth/Age : |
04.06.1960 |
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Date of Appointment : |
03.12.2003 |
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PAN No. : |
AAWPM9226A |
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DIN No. : |
01558066 |
KEY EXECUTIVES
|
Name : |
Ms. Shruti Desai |
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Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Arun Ramchandra Sheth |
42500 |
44.64 |
|
Suhas Narayan Mehta |
15300 |
16.07 |
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Aniruddha Arun Sheth |
15300 |
16.07 |
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Prashant Madhusudan Mahagaokar |
15300 |
16.07 |
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Kishore Sadashiv Masurkar |
6800 |
7.14 |
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Total |
95200 |
100.00 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject engaged in the Infrastructure Sector primarily in
the Construction of Water Supply Projects, Roads, Bridges and Flyovers etc. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
-- |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
450 (Approximately) |
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Bankers : |
· The Saraswat Co-Operative Bank Limited, Small And Medium Enterprises Branch, Popatlal Niwas, 1st Floor, Ranade Road, Dadar, Mumbai - 400028, Maharashtra, India · New India Co-Op. Bank Limited, Shreeji Ville, Opposite Nitin Casting Limited, Almedia Road, Panchpakhadi, Thane (West), Thane - 400601, Maharashtra, India ·
Oriental Bank of Commerce, Naupada Branch,
Plot No. 236, Monalisa, Hari Niwas, Naupada, Thane - 400602, Maharashtra,
India · IDBI Bank Limited, Nariman Point, Mumbai, Maharashtra, India |
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Facilities : |
· Fund Based Limits: Rs. 550.000 Million (From IDBI Bank Limited and Oriental Bank of Commerce) · Non-fund Based Limits: Rs. 2450.000 Million (From IDBI Bank Limited and Oriental Bank of Commerce)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S M Pradhan and Company Chartered Accountants |
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Address : |
C/O5, Vijayalaxmi Gokhale Road Mulund (East), Mumbai - 400081, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAAPP5904C |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiary Company
: |
Chafal Road Developers Private Limited CIN No.: U45203MH2004PTC144031 |
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Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
· SMC Infra LLC · P. S. Engineers and Fabricators · Samudra Electronic System Private Limited CIN No.: U32106PN1987PTC043028 · Spectrum Superspeciality Hospitals Private Limited CIN No.: U93090MH2011PTC214963 |
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Joint Venture : |
· NCC - SMC JV · ACKRUTI - SMC JV · NCC SMC - INDU JV · NCC - SMC JV (KDMC Project) · SMC - INDU JV · NCC SMC - Unity JV · SMC SBM - Universal JV · SMC - AMBIKA JV · SMC - SBK JV · NCC - SMC JV (Skywalk Project) · UNITY - SMC JV · Subhash - SMCL JV · INDU SMC WPIL JV · Gurukrupa Trading CO. · Accord SMC JV · GPT-SMC JV · SMC-ENVIRO JV · SMC-GECPL JV · SMC-VUB-Bitcon JV · SMC-VUB JV (Kolambi Work) · SMC-VUB JV (Roha Work) · SMC-CCSPL-ECL JV (Vizag Work) · SMC-ECL JV · VUB and SMC JV (Kolambi Work) · SMC Pre JV (TMC Work) · KCCL-SMC-IHP JV · KEC-SMC JV · Ramky SMC (JV) |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
100,000 |
Equity Shares |
Rs.100/- each |
Rs. 10.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
95,200 |
Equity Shares |
Rs.100/- each |
Rs. 9.520 Million |
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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 |
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(1)Shareholders'
Funds |
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(a) Share Capital |
9.520 |
9.520 |
0.560 |
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(b) Reserves & Surplus |
1536.623 |
1338.469 |
1218.878 |
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(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
1546.143 |
1347.989 |
1219.438 |
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(3) Non-Current
Liabilities |
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(a) long-term borrowings |
9.702 |
22.682 |
13.193 |
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(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 |
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Total Non-current
Liabilities (3) |
9.702 |
22.682 |
13.193 |
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(4) Current Liabilities |
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(a) Short
term borrowings |
638.178 |
479.824 |
503.893 |
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(b) Trade
payables |
1365.297 |
711.290 |
506.578 |
|
(c) Other
current liabilities |
661.560 |
622.026 |
672.134 |
|
(d) Short-term
provisions |
188.649 |
140.819 |
69.685 |
|
Total Current
Liabilities (4) |
2853.684 |
1953.959 |
1752.290 |
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TOTAL |
4409.529 |
3324.630 |
2984.921 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed
Assets |
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(i)
Tangible assets |
436.057 |
421.152 |
415.820 |
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(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 |
36.165 |
36.165 |
18.540 |
|
(c) Deferred tax assets (net) |
1.143 |
1.351 |
1.100 |
|
(d) Long-term Loan and Advances |
483.810 |
380.393 |
270.148 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
957.175 |
839.061 |
705.608 |
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(2) Current assets |
|
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(a)
Current investments |
260.744 |
218.204 |
231.814 |
|
(b)
Inventories |
550.637 |
781.180 |
607.962 |
|
(c) Trade
receivables |
1130.549 |
510.370 |
516.975 |
|
(d) Cash
and cash equivalents |
410.541 |
293.154 |
188.376 |
|
(e)
Short-term loans and advances |
203.110 |
111.881 |
160.727 |
|
(f) Other
current assets |
896.773 |
570.780 |
573.459 |
|
Total
Current Assets |
3452.354 |
2485.569 |
2279.313 |
|
|
|
|
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TOTAL |
4409.529 |
3324.630 |
2984.921 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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SALES |
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Income |
4496.400 |
3620.600 |
3442.000 |
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Other Income |
NA |
NA |
NA |
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TOTAL |
NA |
NA |
NA |
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Less |
EXPENSES |
NA |
NA |
NA |
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PROFIT/
(LOSS) BEFORE TAX |
NA |
NA |
NA |
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|
Less |
TAX |
NA |
NA |
NA |
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|
|
|
|
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|
PROFIT/
(LOSS) AFTER TAX |
198.154 |
128.552 |
180.931 |
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EARNINGS IN
FOREIGN CURRENCY |
0.011 |
8.608 |
NA |
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|
|
Earnings /
(Loss) Per Share (Rs.) |
208.14 |
135.03 |
3230.91 |
|
Expected Sales (2014-2015): Rs. 4000.000 Millions (Due to Market
Fluctuation)
The above information has been parted by Ms. Shruti Desai (Finance
Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
4.41 |
3.55 |
5.26 |
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Debt Equity Ratio (Total Debt/Networth) |
|
0.42 |
0.37 |
0.42 |
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|
Current Ratio (Current Asset/Current Liability) |
|
1.21 |
1.27 |
1.30 |
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 |
0.560 |
9.520 |
9.520 |
|
Reserves and Surplus |
1218.878 |
1338.469 |
1536.623 |
|
Net
worth |
1219.438 |
1347.989 |
1546.143 |
|
|
|
|
|
|
Long-term Borrowings |
13.193 |
22.682 |
9.702 |
|
Short-term Borrowings |
503.893 |
479.824 |
638.178 |
|
Total
borrowings |
517.086 |
502.506 |
647.880 |
|
Debt/Equity
ratio |
0.424 |
0.373 |
0.419 |
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 |
3442.000 |
3620.600 |
4496.400 |
|
|
|
5.189 |
24.189 |
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 |
3442.000 |
3620.600 |
4496.400 |
|
Profit |
180.931 |
128.552 |
198.154 |
|
|
5.26% |
3.55% |
4.41% |
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
CURRENT MATURITIES
OF LONG TERM DEBTS: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10559646 |
11/03/2015 |
20,507,098.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C49316847 |
|
2 |
10547756 |
03/02/2015 |
5,360,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C42869404 |
|
3 |
10530862 |
06/05/2014 |
3,516,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
C33366113 |
|
4 |
10406798 |
02/02/2013 |
31,840,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B69099133 |
|
5 |
10399593 |
29/12/2012 |
3,316,500.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B66361411 |
|
6 |
10401997 |
18/12/2012 |
1,882,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B67699629 |
|
7 |
10393670 |
04/12/2012 |
5,265,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B64768096 |
|
8 |
10140790 |
21/03/2014 * |
2,267,100,000.00 |
IDBI BANK LIMITED |
IDBI TOWER, WTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
C05601976 |
|
9 |
10106782 |
15/02/2008 |
50,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA LIMITED |
SILVER APARTMENT, SHANKAR GHANEKAR MARG, PRABHADE |
A39844212 |
|
10 |
10082726 |
24/12/2007 |
15,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA LIMITED |
SILVER APARTMENT, SHANKAR GHANEKAR MARG, PRABHADE |
A30222624 |
|
11 |
10061930 |
08/06/2007 |
32,100,000.00 |
IDBI LIMITED |
SILVER APARTMENTS, SHANKAR GHANEKAR MARG, PRABHADEVI, MUMBAI, MAHARASHTRA - 400028, INDIA |
A19147396 |
|
12 |
10090993 |
08/06/2007 |
45,000,000.00 |
IDBI LIMITED |
SILVER APARTMENTS, SHANKAR GHANEKAR MARG, PRABHADEVI, MUMBAI, MAHARASHTRA - 400028, INDIA |
A19146596 |
|
13 |
10090994 |
08/06/2007 |
60,000,000.00 |
IDBI LIMITED |
SILVER APARTMENTS, SHANKAR GHANEKAR MARG, PRABHADEVI, MUMBAI, MAHARASHTRA - 400028, INDIA |
A19147024 |
|
14 |
10052547 |
30/04/2007 |
10,000,000.00 |
IDBI LIMITED |
SILVER APARTMENTS, SHANKAR GHANEKAR MARG, PRABHADEVI, MUMBAI, MAHARASHTRA - 400028, INDIA |
A15537202 |
|
15 |
10040381 |
23/05/2013 * |
60,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
SMALL AND MEDIUM ENTERPRISES BRANCH,, POPATLAL NIWAS, 1ST FLOOR, RANADE ROAD, DADAR, MUMBAI, MAHARASHTRA - 400028, INDIA |
B77310449 |
|
16 |
10038971 |
25/01/2007 |
13,500,000.00 |
IDBI BANK LIMITED |
SILVER APARTMENTS, SHANKAR GHANEKAR MARG, PRABHADEVI, MUMBAI, MAHARASHTRA - 400028, INDIA |
A10630176 |
|
17 |
10030268 |
06/12/2006 |
7,500,000.00 |
THANE BHARAT SAHAKARI BANK LIMITED |
SHATATARAKA, BAJI PRABHU DESHPANDE MARG, VISHNU N |
A08304040 |
|
18 |
10022900 |
20/10/2006 |
22,500,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA LIMITED |
PRABHADEVI BRANCH, PRABHADEVI, MUMBAI, MAHARASHTRA - 400025, INDIA |
A05861067 |
|
19 |
10007049 |
17/05/2006 |
2,300,000.00 |
THE UNITED WESTERN BANK LIMITED |
SILVER APARTMENT,, SHANKAR CHANEKAR MARG,PRABHADE |
A01177039 |
|
20 |
90149630 |
08/06/2007 * |
159,152,000.00 |
IDBI LIMITED |
SILVER APARTMENTS, SHANKAR GHANEKAR MARG, PRABHADEVI, MUMBAI, MAHARASHTRA - 400028, INDIA |
A19146182 |
|
21 |
90146774 |
21/01/2011 * |
90,000,000.00 |
IDBI BANK LIMITED (UNITED WESTERN BANK MERGED WITH |
IDBI TOWER, WTC COMPLEX, CUFFE PARADE, MUMBAI, MA |
B08062671 |
|
22 |
90148787 |
13/07/2004 |
2,500,000.00 |
THE UNITED WESTERN BANK LIMITED |
PRABHADEVI BRANCH, MUMBAI, MAHARASHTRA - 400025, INDIA |
- |
|
23 |
90148589 |
26/02/2004 |
5,000,000.00 |
THE UNITED WESTERN BANK LIMITED |
PRABHADEVI BRANCH, MUMBAI, MAHARASHTRA - 400028, INDIA |
- |
|
24 |
90148525 |
31/12/2003 |
2,500,000.00 |
THE UNITED WESTERN BANK LIMITED |
PRABHADEVI BRANCH, MUMBAI, MAHARASHTRA - 400028, INDIA |
- |
|
25 |
90148494 |
11/12/2003 |
5,000,000.00 |
THE UNITED WESTERN BANK LIMITED |
PRABHADEVI BRANCH, MUMBAI, MAHARASHTRA - 400028, INDIA |
- |
|
26 |
90148462 |
07/02/2004 * |
3,000,000.00 |
THE UNITED WESTERN BANK LIMITED |
PRABHADEVI BRANCH, MUMBAI, MAHARASHTRA - 400028, INDIA |
- |
|
27 |
90141049 |
21/09/2002 |
293,500,000.00 |
THE UNITED WESTERN BANK LIMITED |
PRABHADEVI BRANCH, MUMBAI, MAHARASHTRA - 400028, INDIA |
- |
|
28 |
90147185 |
04/09/1998 * |
9,000,000.00 |
THE UNITED WESTERN BANK LIMITED |
PRABHADEVI BRANCH, MUMBAI, MAHARASHTRA - 400028, INDIA |
- |
|
29 |
90147167 |
20/03/2002 * |
10,000,000.00 |
THE UNITED WESTERN BANK LIMITED |
PRABHADEVI BRANCH, MUMBAI, MAHARASHTRA - 400028, INDIA |
- |
|
30 |
90147152 |
20/01/1998 |
500,000.00 |
THE UNITED WESTERN BANK LIMITED |
PRABHADEVI BRANCH, MUMBAI, MAHARASHTRA - 400028, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from directors |
49.373 |
34.680 |
|
Other loans and advances, others |
15.941 |
5.364 |
|
Total |
65.314 |
40.044 |
CORPORATE
INFORMATION:
Subject was established on 14th June, 1982 and its registered office is situated at Thane. The Company is engaged in the infrastructure sector, primarily in the construction of Water Supply Projects, Roads, Bridges and Flyovers etc.
FINANCIAL RESULTS:
The turnover of the company for the year has been Rs.4496.400 Million as against Rs. 3620.600 Million for the preceding year. The directors are optimistic of achieving better turnover for the current year.
The company has been claiming deduction u/s 80IA of the I.T. Act 1961 from A.Y. 02-03 onwards (from F.Y.01-02). The claims for deduction were accepted at the 1st Appellate stage and the relief was challenged by the department in Tribunal. Subsequently there were two amendments to section 80IA by the finance act, 2007 and 2009 which denied works contractor from the said claim. The company has been legally advised that this explanation does not affect its rights to claim the deduction u/s 80IA. As advised our company has filed reference in the Honourable Bombay High Court against the decision of the Tribunal and same has been admitted.
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.58 |
|
|
1 |
Rs. 97.99 |
|
Euro |
1 |
Rs. 70.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
51 |
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.