MIRA INFORM REPORT

 

 

Report No. :

324052

Report Date :

27.05.2015

 

IDENTIFICATION DETAILS

 

Name :

VECTRA ADVANCED ENGINEERING PRIVATE LIMITED (w.e.f.10.07.2000)

 

 

Formerly Known As :

VECTRA ADVANCE ENGINEERING PRIVATE LIMITED

 

 

Registered Office :

Vectra House No. 15, 1st Main Road, Gandhinagar, Bangalore – 560009, Karnataka

Tel. No.:

91-80-41290011

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

27.12.1999

 

 

Com. Reg. No.:

08-030375

 

 

Capital Investment / Paid-up Capital :

Rs. 586.872 million

 

 

CIN No.:

[Company Identification No.]

U29299KA1999PTC030375

 

 

IEC No.:

0300072368

 

 

TAN No.:

Not Available

 

 

PAN No.:

[Permanent Account No.]

AABCV1355K

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacture, Importer and Exporter of Different type of Cranes of Varying Load Capacities, Trails and Concrete Mixers.

 

 

No. of Employees :

35 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (28)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

 

Maximum Credit Limit :

USD 1290000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record.

 

Management of the company has not filed its financial with the government department for the year 2014.

 

As per available financial of 2013, the company has incurred some accumulated losses.

 

However, trade relations are reported as fair. Business is active. Payment terms 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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

NOT AVAILABLE

 

 

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 (GENERAL DETAILS)

 

Name :

Mr. Servesh

Designation :

Quality Department

Contact No.:

91-9999883527

Date :

23.05.2015

 

 

LOCATIONS

 

Registered Office :

Vectra House No. 15, 1st Main Road, Gandhinagar, Bangalore – 560009, Karnataka, India

Tel. No.:

91-80-41290011

Mobile No.:

91-9999883527 (Mr. Servesh)

Fax No.:

91-80-41516422

E-Mail :

serveshkumar@vectragroup.com

vikramk@vectraindia.com

Website :

http://www.vectragroup.com

 

 

Factory 1:

Plot No. 22, Udyog Vihar, Greater Noida - 201 306, Uttar Pradesh, India

Tel. No.:

91-120-4761300

Fax No.:

91-120-4761339

E-Mail :

marketing@indocopters.com

 

 

DIRECTORS

 

AS ON 28.12.2012

 

Name :

Mr. Ashok Kumar

Designation :

Director

Address :

No. 162, 1, Main 5th Cross Kendriya Upadyayara Sangha, Nagar Abhavi Istage, Bangalore – 560072, Karnataka, India

Date of Birth/Age :

12.12.1964

Date of Appointment :

13.02.2007

PAN No.:

AFLPK9296C

DIN No.:

00135431

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U34300KA2006PTC038760

GLOBAL OFFSET EXCHANGE PRIVATE LIMITED

Director

16/03/2006

16/03/2006

24/12/2008

Active

NO

2

U72200KA2006PTC039232

VECTRA IT SOLUTIONS PRIVATE LIMITED

Director

04/05/2006

04/05/2006

-

Active

NO

3

U29299KA1999PTC030375

VECTRA ADVANCED ENGINEERING PRIVATE LIMITED

Director

13/02/2007

13/02/2007

-

Active

NO

4

U25199KA2006PTC038179

VECTRA FAINSA SEATS PRIVATE LIMITED

Director

14/08/2007

14/08/2007

-

Strike off

NO

5

U85110KA1997PLC022498

KAMAZ MOTORS LIMITED

Director

30/11/2007

30/11/2007

03/12/2013

Active

NO

6

U74140KA2008FTC044949

RICHMOND CONSULTANCY SERVICES PRIVATE LIMITED

Director

14/01/2008

14/01/2008

-

Active

NO

7

U50101KA1992PTC013183

VECTRA AUTO COMPONENTS PRIVATE LIMITED

Director

08/10/2008

08/10/2008

-

Active

NO

8

U34100MH1994PLC080018

VENUS UDYOG (INDIA) LIMITED

Director

30/09/2011

15/11/2010

-

Active

NO

 

 

Name :

Mr. Anil Mansharamani

Designation :

Managing Director

Address :

P – 29, South Extension – 11, New Delhi – 110049, India

Date of Birth/Age :

02.12.1957

Date of Appointment :

27.12.1999

PAN No.:

AAIPM8836A

DIN No.:

00234390

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U67120DL1981PTC012482

HEMANG HOLDINGS PRIVATE LIMITED

Director

15/10/1981

15/10/1981

-

Active

NO

2

U74899DL1986PTC024242

MIL VEHICLES AND TECHNOLOGIES PRIVATE LIMITED

Managing director

19/05/1986

19/05/1986

19/07/2014

Active

NO

3

U29299KA1999PTC030375

VECTRA ADVANCED ENGINEERING PRIVATE LIMITED

Managing director

27/12/1999

27/12/1999

-

Active

NO

4

U65993KA1997PTC030374

VECTRA INVESTMENTS PRIVATE LIMITED

Managing director

12/06/2000

12/06/2000

-

Active

NO

5

U74999TZ2003PTC020725

TEREX EQUIPMENT PRIVATE LIMITED

Director

22/09/2008

28/04/2003

15/03/2010

Active

NO

6

U50101KA1992PTC013183

VECTRA AUTO COMPONENTS PRIVATE LIMITED

Director

18/09/2003

18/09/2003

21/03/2011

Active

NO

7

U40105KA2004PTC033135

VECTRA SOGECLAIR TECHNOLOGIES INDIA PRIVATE LIMITED

Director

01/01/2004

01/01/2004

-

Strike off

NO

8

U62100DL2005PTC132524

INDO COPTERS PRIVATE LIMITED

Director

31/01/2005

31/01/2005

-

Active

NO

9

U25199KA2006PTC038179

VECTRA FAINSA SEATS PRIVATE LIMITED

Director

06/01/2006

06/01/2006

-

Strike off

NO

10

U74920KA2007PTC043218

VECTRA GLOSEC PRIVATE LIMITED

Director

25/06/2007

25/06/2007

-

Active

NO

11

U99999DL2001PLC110396

INDIA EXPOSITION MART LIMITED

Director

27/11/2007

27/11/2007

-

Active

NO

12

U74120DL2008PTC174973

WINDSOR CONSULTANCY SERVICES PRIVATE LIMITED

Director

05/03/2008

05/03/2008

06/10/2009

Active

NO

13

U62200DL2008PTC184313

INTEGRATED HELICOPTER SERVICES PRIVATE LIMITED

Director

16/10/2008

16/10/2008

-

Active

NO

14

U74999DL2012PTC239808

S M VECTRA TECHNOLOGIES PRIVATE LIMITED

Director

03/08/2012

03/08/2012

-

Active

NO

15

U31900DL2012PTC243332

PAL VECTRA (INDIA) PRIVATE LIMITED

Director

08/10/2012

08/10/2012

-

Strike off

NO

16

U34300KA2006PTC038760

GLOBAL OFFSET EXCHANGE PRIVATE LIMITED

Director

30/09/2013

20/03/2013

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Servesh

Designation :

Quality Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 28.12.2012

 

Names of Equity Shareholders

No. of Shares

 

Bahl Bharat Bhushan

10

Bahl B. Nitin

10

Vectra Investment Private Limited, India

90000

Rishi R. Deepti

3560107

Vectra Limited

21411180

Vectra Limited

20553920

Kishi R. Suruchi

1847550

Rishi R. Swathi

1847550

Rishi R. Rati

1847550

Rishi R. Hemang

1847550

Rishi Ravinder Kumar

1712557

Total

 

55018004

 

Names of Preference Shareholders

No. of Shares

 

Ashok Kumar

62

Vectra Investments Private Limited

12438

Vectra Investments Private Limited

487500

 

 

Total

 

500000

 

 

AS ON 28.12.2012

 

Equity Share Breakup

Percentage of Holding

Category

 

Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]

34.00

Bodies corporate

52.00

Directors or relatives of directors

14.00

 

 

Total

 

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacture, Importer and Exporter of Different type of Cranes of Varying Load Capacities, Trails and Concrete Mixers.

 

 

Products/ Services :

ITC Code No.

 

Product Descriptions

84295200

Containers

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

Finished Goods

Countries :

Italy

 

 

Imports :

 

Products :

Raw Material

Countries :

Sri Lanka

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Wholesalers and Retailers

 

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

35 (Approximately)

 

 

Bankers :

Bank Name:

The Royal Bank of Scotland N.V.

Branch:

4, North Avenue, Level 3, Maker Maxity,Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India

Person Name (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         ABN Amro Bank N V, 74, Sakhar Bhavan, 7th Floor, Nariman Point,, Mumbai - 400021, Maharashtra, India

 

 

Facilities :

 

SECURED LOANS

31.03.2013

(Rs. In Million)

31.03.2012

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Deferred sales Tax Loan

0.300

0.300

Loans and Advances from Other

253.164

276.055

 

 

 

SHORT TERM BORROWINGS

 

 

Loans Repayable on Demand from Banks (Secured by hypothecation of land and building, plant and machinery, raw materials, work in progress, finished goods and stores aqnd spares, receivables and other current assets , present and future.)

81.176

97.518

 

 

 

Total

 

334.64

373.873

 

NOTE:

 

·         Indocopters private limited Rs. 50.990 Vectra Investments private limited Rs. 168.463 million Vectra Engineering Materials private limited Rs. 6.500 million Directors Rs. 27.210 million

 

·         Indocopters private limited Rs. 52.990 million Vectra Investments private limited Rs. 216.546 million Vectra Engineering Materials private limited Rs.6.470 million Vectra Glossec private limited Rs.0.048 million 27.210 million

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Nangia and Company

Chartered Accountants

Address :

The Summit Level 2, Unit no. 210, Western Express Highway, Vile Parle (East), Mumbai - 400 057, Maharashtra, India

Income-tax PAN of auditor or auditor's firm :

AAAFN9013E

 

 

Ultimate Holding

Company:

Vectra Limited

 

 

Others Related Parties:

·         Mil Vehicles and Technologies Private Limited (CIN NO.: U74899DL1986PTC024242)

·         Vectra Glosec Private Limited (CIN NO.: U74920KA2007PTC043218)

·         Vectra Canada Limited

·         Kamaz Motors Limited (CIN NO.: U85110KA1997PLC022498)

·         Vectra Auto Components Private Limited (CIN NO.: U50101KA1992PTC013183)

·         Vectra Investments Private Limited (CIN NO.: U65993KA1997PTC030374)

·         Vectra IT Solutions Private Limited (CIN NO.: U72200KA2006PTC039232)

·         Integrated Helicopter Services Private Limited (CIN NO.: U62200DL2008PTC184313)

·         Indo Copters Private Limited (CIN NO.: U62100DL2005PTC132524)

 

 

 

 

Fellow Subsidiary company:

·         Global Offset Exchange Private Limited (CIN NO.: U34300KA2006PTC038760)

·         Vectra Engineering Limited, Hong Kong

·         S. M. Vectra Technologies Private Limited (CIN NO.: U74999DL2012PTC239808)

·         Tatra Sipox, United Kingdom

 

 

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2013

 

Authorised Capital : Rs. 605.000 Million

 

Issued, Subscribed & Paid-up Capital : Rs. 590.381 Million

 

AS ON 31.03.2013

 

Authorised Capital :

 

 

 

 

6,00,00,000

Equity Shares

Rs. 10/- each

Rs.  600.000 Million

500,000

Preference  Shares

Rs. 10/- each

Rs.  5.000 Million

 

 

 

 

 

Total

 

Rs. 605.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

58,187,169

Equity Shares

Rs. 10/- each

Rs. 581.872 Million

500,000

Preference Shares

Rs. 10/- each

Rs. 5.000 Million

 

 

 

 

 

Total

 

Rs. 586.872 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

586.872

583.507

544.975

(b) Reserves & Surplus

(134.169)

(73.395)

(144.371)

(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)

452.703

510.112

400.604

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

254.358

278.692

119.337

(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

7.608

11.511

9.210

Total Non-current Liabilities (3)

261.966

290.203

128.547

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

81.176

97.518

88.710

(b) Trade payables

81.479

115.995

121.867

(c) Other current liabilities

72.043

57.934

70.335

(d) Short-term provisions

2.167

3.571

3.610

Total Current Liabilities (4)

236.865

275.018

284.522

 

 

 

 

TOTAL

951.534

1075.333

813.673

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

450.621

434.526

442.588

(ii) Intangible Assets

0.374

3.997

3.587

(iii) Capital work-in-progress

6.788

69.463

36.603

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

2.997

2.997

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

330.018

285.953

35.516

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

790.798

796.936

518.294

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000 

(b) Inventories

62.316

110.031

143.874

(c) Trade receivables

83.833

147.803

120.678

(d) Cash and cash equivalents

3.486

4.283

20.616

(e) Short-term loans and advances

5.776

8.683

6.394

(f) Other current assets

5.325

7.597

3.817

Total Current Assets

160.736

278.397

295.379

 

 

 

 

TOTAL

951.534

1075.333

813.673

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

GROSS REVENUE

181.026

502.198

681.676

 

 

 

 

 

Less

EXPENSES

NA

NA

NA

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

(11.059)

96.683

67.590

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

35.457

6.674

23.438

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                               (E)

(46.516)

40.009

44.152

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

26.104

26.859

26.825

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX (E-F)                  (G)

(72.620)

13.150

17.327

 

 

 

 

 

Less

TAX                                                                  (H)

0.000

0.000

0.000

 

 

 

 

 

 

PROFIT/(LOSS) AFTER TAX (G-H)                      (I)

(72.620)

13.150

17.327

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

 

 

 

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Goods

0.000

37.571

0.000

 

 

Service Charges

0.000

3.055

0.000

 

 

Interest Income

38.644

33.471

0.000

 

TOTAL EARNINGS

38.644

74.097

0.000

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

1.131

22.840

0.000

 

 

 

 

 

 

Earnings Per Share (Rs.)

(1.24)

0.23

0.30

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2013

31.03.2012

31.03.2011

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(7.71)

1.31

2.23

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.16)

0.03

0.04

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

0.74

0.74

0.52

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.68

1.01

1.04

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

544.975

583.507

586.872

Reserves & Surplus

(144.371)

(73.395)

(134.169)

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

400.604

510.112

452.703

 

 

 

 

Long-term borrowings

119.337

278.692

254.358

Short term borrowings

88.710

97.518

81.176

Total borrowings

208.047

376.210

335.534

Debt/Equity ratio

0.519

0.738

0.741

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Gross Revenue

681.676

502.198

181.026

 

 

(26.329)

(63.953)

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Gross Revenue

681.676

502.198

181.026

Profit

17.327

13.150

(72.620)

 

2.54%

2.62%

(40.12%)

 

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

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)

Yes

16

No. of employees

Yes

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

No

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10558121

04.03.2015

18,700,000.00

THE ROYAL BANK OF SCOTLAND N. V.

LEVEL 3, 4 NORTH AVENUE, MAKER MAXITY, BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI - 400051, MAHARASHTRA, INDIA

C48366611

2

10490717

31.03.2014

100,000,000.00

SREI INFRASTRUCTURE FINANCE LIMITED

VISHWAKARMA,86C,TOPSIA ROAD (SOUTH), KOLKATA - 700046, WEST BENGAL - 700046, INDIA

C03927183

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Loans taken for fixed Assets

0.894

2.337

 

 

 

Total

 

0.894

2.337

 


OVERVIEW OF THE COMPANY:

 

The company was incorporated on 27th December 1999. The Company’s registered and operational office is located in Bangalore. The Company is engaged in the business of fabrication and manufacturing of cranes, trailers, earth movers, transit concrete mixers and trading of spare parts and service of maintenance contracts and has its manufacturing facilities at Greater Noida (Uttar Pradesh) and Attibele (Karnataka). During the year, with effect from 4th July, 2012, the company has closed its manufacturing facility at Attibele (Karnataka).

 

 

FIXED ASSETS:

 

·         Land

·         Buildings

·         Plant and Equipment

·         Other plant and Equipment

·         Furniture and Fixtures

·         Vehicles

·         Office Equipment

·         Computer Equipment’s

·         Other Equipment’s

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

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

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 63.85

UK Pound

1

Rs. 98.38

Euro

1

Rs. 69.64

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

ARC

 

 

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

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

2

--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

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

28

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

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

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

 

 

 

 

 

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

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