MIRA INFORM REPORT
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Report No. : |
350669 |
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Report Date : |
21.11.2015 |
IDENTIFICATION
DETAILS
|
Name : |
STERLING AND WILSON PRIVATE LIMITED (w.e.f. 07.11.2014) |
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Formerly Known
As : |
STERLING AND WILSON LIMITED (w.e.f. 08.09.2009) STERLING AND WILSON PRIVATE LIMITED (w.e.f. 27.06.2007) STERLING AND WILSON ELECTRICALS PRIVATE LIMITED |
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Registered
Office : |
9th Floor, Universal Magestic, P.L. Lokhande Marg, Chembur, Mumbai- 400043, Maharashtra |
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Tel No.: |
91-22-25485300 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
13.06.1974 |
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Com. Reg. No.: |
11-017538 |
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Capital Investment
/ Paid-up Capital : |
Rs.660.360
Million |
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CIN No.: [Company Identification
No.] |
U31200MH1974PTC017538 (NEW) U31200MH1974PLC017538 (Old) |
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IEC No.: |
0302078011 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Mums48651B |
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PAN No.: [Permanent Account No.] |
AAACS9939D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is engaged in the business of Mechanical, Electricals and Plumbing
and Fire-fighting (collectively known as ‘MEP’ segment). |
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No. of Employees
: |
500 (Approximately) |
RATING
& COMMENTS
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MIRA’s Rating : |
Ba (52) |
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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 a subsidiary of ‘Shapoorji Pallonji and Company Private Limited’, India. The company operates as an EPC contractor providing complete mechanical, electrical and plumbing (MEP) as well as solar services. For the financial year ended 2014, company has reported 17.16% sales turnover growth as compared to previous sales turnover and it has achieved profit from its operations during the year under a review. Ratings continue to reflect the company’s established position and proven track record as an EPC player in the Electrical and Air Conditioning space supported by its strong execution skills and strong parentage being a subsidiary of “Shapoorji Pallonji and Company Private Limited”. Rating also takes into account of company healthy financial profile marked by its adequate net worth base along with sound debt protection indicators and fair liquidity position. Rating strength is partially offset by high competitive pressure in the industry, high working capital intensity of operations which is inherent in the EPC industry and susceptibility of profitability to prices of basic raw materials like steel because of fixed price nature of contracts. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitment. In view of aforesaid, 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 |
ICRA |
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Rating |
Fund Based Limits A+ |
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Rating Explanation |
Adequate degree of safety and low credit risk.
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Date |
October, 2015 |
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Rating Agency Name |
ICRA |
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Rating |
Commercial Paper A1+ |
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Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
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Date |
October, 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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Hariharan Kalpathy |
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Designation : |
Company Secretary |
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Contact No.: |
91-22-25485300 |
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Date : |
20.11.2015 |
LOCATIONS
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Registered / Head Office : |
9th Floor, Universal Magestic, P.L. Lokhande Marg, Chembur, Mumbai- 400043, Maharashtra, India |
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Tel. No.: |
91-22-25485300 |
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Fax No.: |
91-22-25485331 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Commercial |
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Corporate Office : |
Kasturi Building, Sanghavi Industrial Estate, Govandi Station Road,
Govandi (East), Mumbai - 400088, Maharashtra, India |
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Tel. No.: |
91-22-25485300 |
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Fax No.: |
91-22-25485331 / 352 |
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E-Mail : |
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Area : |
5000 Sq.fts |
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Location : |
Owned |
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Factory : |
Survey No. 59, 343/1, Village Kala, Kherdi, Khanvel, Silvassa,
U.T. of Dadra and Nagar Haveli |
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Tel. No.: |
91-260-2677408 / 419 |
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Fax No.: |
91-260-2677408 |
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E-Mail : |
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International Office: |
FZE P.O. BOX 54811, DFZA, Dubai |
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Tel. No.: |
009714 6091 050 |
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Fax No.: |
007914 6091 051 |
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Zonal Office : |
Located at:
Tel. No.:91-120-4071000 Fax No.:91-120-4071030 / 31
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Branch Office : |
Located at:
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DIRECTORS
As on 04.09.2014
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Name : |
Zarine Yazdi Daruvala |
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Designation : |
Managing director |
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Address : |
613, Dinshaw Mody
Building, Jame Jamsed Road, Parsi Colony, Dadar, Mumbai – 400014,
Maharashtra, India |
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Date of Birth/Age : |
17.12.1944 |
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Qualification : |
B. Com |
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Date of Appointment : |
01.04.2013 |
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PAN No.: |
AECPD6525K |
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DIN No.: |
00190585 |
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Name : |
Khurshed Yazdi Daruvala |
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Designation : |
Whole-time director |
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Address : |
613, Dinshaw
Mody Building, Jame Jamsed Road, Parsi Colony, Dadar, Mumbai – 400014,
Maharashtra, India |
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Date of Birth/Age : |
22.03.1969 |
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Qualification : |
B. Com, ACA |
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Date of Appointment : |
01.04.2013 |
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PAN No.: |
AACPD7565R |
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DIN No.: |
00216905 |
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Name : |
Pallon Shapoor Mistry |
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Designation : |
Additional Director |
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Address : |
Sterling Bay, 103, Walkeshwar Road, Mumbai-400006, Maharashtra, India |
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Date of Appointment : |
06.10.2015 |
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DIN No.: |
05229734 |
KEY
EXECUTIVES
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Name : |
Mr. Hariharan Kalpathy |
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Designation : |
Secretary |
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Address : |
No.6, Forward House, Building No.1, Wadala, Mumbai – 400031,
Maharashtra, India |
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Date of Birth/Age : |
26.01.1952 |
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Date of Appointment : |
28.02.2008 |
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PAN No.: |
AAAPH9627C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 04.09.2014
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
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Shapoorji Pallonji and Company Limited, India |
|
10546667 |
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Pallonji S. Mistry |
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144000 |
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Khurshed Y.Daruvala |
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5345293 |
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Zarir Madan Jointly with Khurshed Y.Daruvala |
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10 |
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Kainaz K.Daruvala Jointly with Khurshed Y.Daruvala |
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20 |
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Zarine Y.Daruvala |
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10 |
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Total |
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16036000 |
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Names of Shareholders (Preference Shares) |
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No. of Shares |
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Shapoorji Pallonji and Company Limited, India |
|
330000 |
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Khurshed Y.Daruvala |
|
170000 |
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Total |
|
500000 |
Equity Share Break up (Percentage of Total Equity)
As on 04.09.2014
|
Category |
Percentage |
|
Bodies corporate |
66.00 |
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Directors or relatives of Directors |
33.00 |
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Others |
1.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The Company is engaged in the business of Mechanical, Electricals and
Plumbing and Fire-fighting (collectively known as ‘MEP’ segment). |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
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Product : |
Raw Material |
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Countries : |
Korea |
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Terms : |
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Selling : |
Cash / Credit (30/60/90 Days) |
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Purchasing : |
Cash / Credit (30/60/90 Days) |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
500 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
BSR and Company Chartered Accountants |
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Address : |
Lodha Excelus, 1st
Floor, Apollo Mills Compound, N M Joshi Marg, Mahalakshmi, Mumbai - 400011 |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAIFB7355D |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding company: |
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Subsidiaries,
direct holding: |
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Jointly controlled
entity, indirect holding: |
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Fellow
subsidiaries: |
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Joint venture: |
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Entities over which
key managerial person or their relatives exercise control: |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
18000000 |
Equity Shares |
Rs.10/- each |
Rs. 180.000 Million |
|
500000 |
Preference Shares |
Rs.1000/- each |
Rs. 500.000 Million |
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Total |
|
Rs. 680.000
Million |
Issued, Subscribed and Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
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|
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|
16036000 |
Equity Shares |
Rs.10/- each |
Rs. 160.360 Million |
|
500000 |
Preference Shares |
Rs.1000/- each |
Rs. 500.000 Million |
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Total |
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Rs. 660.360
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
660.360 |
160.360 |
160.360 |
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(b) Reserves & Surplus |
1893.415 |
1792.616 |
1983.465 |
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(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
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|
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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) |
2553.775 |
1952.976 |
2143.825 |
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(3) Non-Current Liabilities |
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|
|
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(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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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 |
178.172 |
175.582 |
131.673 |
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Total
Non-current Liabilities (3) |
178.172 |
175.582 |
131.673 |
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(4) Current Liabilities |
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(a) Short term borrowings |
3711.634 |
3199.224 |
3056.049 |
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(b) Trade payables |
6389.881 |
5513.897 |
5354.021 |
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(c) Other current liabilities |
3346.138 |
3540.521 |
2056.542 |
|
(d) Short-term provisions |
19.072 |
21.757 |
21.028 |
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Total
Current Liabilities (4) |
13466.725 |
12275.399 |
10487.640 |
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|
|
|
|
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TOTAL |
16198.672 |
14403.957 |
12763.138 |
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II.
ASSETS |
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|
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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 |
375.852 |
413.347 |
437.446 |
|
(ii) Intangible Assets |
20.206 |
45.430 |
65.606 |
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(iii) Capital work-in-progress |
6.045 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
60.970 |
60.870 |
60.870 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1452.661 |
983.954 |
651.330 |
|
(e) Other Non-current assets |
7.965 |
4.494 |
8.966 |
|
Total
Non-Current Assets |
1923.699 |
1508.095 |
1224.218 |
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.159 |
0.159 |
0.159 |
|
(b) Inventories |
770.486 |
740.757 |
945.047 |
|
(c) Trade receivables |
8730.899 |
8096.927 |
7106.687 |
|
(d) Cash and cash equivalents |
298.841 |
54.506 |
47.855 |
|
(e) Short-term loans and
advances |
706.951 |
738.281 |
644.140 |
|
(f) Other current assets |
3767.637 |
3265.232 |
2795.032 |
|
Total
Current Assets |
14274.973 |
12895.862 |
11538.920 |
|
|
|
|
|
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TOTAL |
16198.672 |
14403.957 |
12763.138 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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|
SALES |
|
|
|
|
|
Income |
17544.970 |
15004.148 |
15603.381 |
|
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Other Income |
183.827 |
127.087 |
124.363 |
|
|
TOTAL
(A) |
17728.797 |
15131.235 |
15727.744 |
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|
|
|
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Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
12531.750 |
10077.689 |
13801.487 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(20.979) |
166.357 |
(2.096) |
|
|
Employees benefits expense |
1456.096 |
1257.160 |
1145.550 |
|
|
Other expenses |
3123.184 |
3158.104 |
589.187 |
|
|
TOTAL
(B) |
17090.051 |
14659.310 |
15534.128 |
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|
|
|
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Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
638.746 |
471.925 |
193.616 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
417.372 |
532.012 |
408.537 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
221.374 |
(60.087) |
(214.921) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
120.575 |
117.902 |
100.298 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
100.799 |
(177.989) |
(315.219) |
|
|
|
|
|
|
|
Less |
TAX
(H) |
0.000 |
12.860 |
17.972 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
100.799 |
(190.849) |
(333.191) |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
925.000 |
1115.800 |
1449.000 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
1025.800 |
925.000 |
1115.800 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
138.502 |
46.976 |
|
|
TOTAL
EARNINGS |
NA |
138.502 |
46.976 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
491.791 |
595.128 |
|
|
TOTAL
IMPORTS |
NA |
491.791 |
595.128 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
6.29 |
(11.90) |
(20.78) |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
20000.000 |
The above information has been parted by Mr. Hariharan Kalpathy (Company
Secretary)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
34.197 |
572.310 |
(15.365) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.57 |
(1.27) |
(2.12) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
3.64 |
3.15 |
1.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.62 |
(1.24) |
(2.48) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
(0.09) |
(0.15) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.45 |
1.64 |
1.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06 |
1.05 |
1.10 |
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 |
160.360 |
160.360 |
660.360 |
|
Reserves & Surplus |
1983.465 |
1792.616 |
1893.415 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2143.825 |
1952.976 |
2553.775 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
3056.049 |
3199.224 |
3711.634 |
|
Total
borrowings |
3056.049 |
3199.224 |
3711.634 |
|
Debt/Equity
ratio |
1.426 |
1.638 |
1.453 |
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 |
15603.381 |
15004.148 |
17544.970 |
|
|
|
(3.840) |
16.934 |
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 |
15603.381 |
15004.148 |
17544.970 |
|
Profit/ (Loss) |
(333.191) |
(190.849) |
100.799 |
|
|
(2.14%) |
(1.27%) |
0.57% |
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 |
Yes |
|
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 |
Yes |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OVERVIEW OF
PERFORMANCE
The domestic uncertainties, coupled with inflation, unstable Rupee, the monetary discipline initiated by the Reserve Bank of India and the resultant paucity of liquidity, have cumulatively slowed down the pace of growth in all segments of the market. This trend has severely impacted not only new investments in all segments of the traditional market but prolonged the pace of implementation of projects under execution, resulting in cash flows continuing to be under pressure and erosion of margins. The Company’s strategic foray into Green Energy, the focus on industrial and value added projects, the control on execuzion and financial discipline has enabled it to improve its performance with 5% increase in turnover over the last fiscal, reduction in interest costs and an improvement in the profits for the year, ending in a net profit of Rs.105.500 Million against a net loss of Rs. 333.100 Million last year.
OUTLOOK FOR 2014-15
The domestic market is poised to become stable and the company expects to maintain a modest growth in turnover during 2014-15. The efforts to tap the potential in exports to other developing regions, like Africa, Middle East and the CIS countries, in the last couple of years, is expected to fructify and enable the Company to maintain its growth trajectory. The time bound implementation of Solar EPC projects and the proven track record has helped the company emerge as a leading Solar EPC player, resulting in enhanced order inflows.
BACKGROUND
Subject is one of India's leading MEP services company with a pan India presence and international operations in Africa. The Company is specialized in complete turn-key solutions, offering a large spectrum of services like Electrical Contracting, heat ventilation and air-conditioning systems, Public health and Safety, LV systems, EPC contracting, Solar EPC and Data Centre solutions with having experience of executing more than 3,000 projects.
The Company was established in 1927 as Wilson Electric Works. The Company was renamed as Sterling and Wilson Electricals Private Limited in 1974 and subsequently as Sterling and Wilson Private Limited in Financial Year 2007. The name has been changed to Sterling and Wilson Limited on 24 June 2009. Sterling and Wilson Limited is a subsidiary of Shapoorji Pallonji and Company limited, effective from 17 April 2008.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Term loans from banks |
756.170 |
417.617 |
|
Term loans from others |
210.400 |
796.000 |
|
Other loans and advances |
250.000 |
0.000 |
|
Total |
1216.570 |
1213.617 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10503089 |
13/05/2014 |
1,750,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH,, 66/80, MUMBAI SAMACHAR MARG, FORT, MUMBAI,
Maharashtra - 400023, INDIA |
C06690648 |
|
2 |
10438784 |
18/07/2013 |
1,400,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, 66/80, MUMBAI SAMACHAR MARG, FORT,, MUMBAI,
Maharashtra - 400023, INDIA |
B80378490 |
|
3 |
10329364 |
13/01/2012 |
700,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B29752102 |
|
4 |
10331805 |
15/12/2011 |
2,000,000,000.00 |
Axis Bank Limited |
TRISHUL 3RD FLOOR OPPOSITE SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE,
AHMEDABAD, Gujarat - 380006, INDIA |
B30569313 |
|
5 |
10196418 |
14/01/2010 |
270,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH (ADVANCES), NGN VAIDYA MARG,, BANK STREET, HORNIMAN
CIRCLE,, MUMBAI, Maharashtra - 400021, INDIA |
A77377786 |
|
6 |
10197028 |
14/01/2010 |
270,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH(ADVANCES), NGN VAIDYA MARG, BANK STREET, HORNIMAN
CIRCLE,, MUMBAI, Maharashtra - |
A77559540 |
|
7 |
10181814 |
14/01/2015 * |
16,460,000,000.00 |
UNION BANK OF INDIA - LEAD BANK OF RECONSTITUTED UNION BANK CONSORTIUM |
INDUSTRIAL FINANCE BRANCH, 66/80, MUMBAI SAMACHAR MARG, FORT, MUMBAI,
Maharashtra - 400023, INDIA |
C45097722 |
|
8 |
10163478 |
24/06/2009 |
850,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
A64265051 |
|
9 |
10155213 |
04/04/2009 |
650,000,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMACHAR MARG BRANCH,, 66/80, MUMBAI SAMAC |
A61163002 |
|
10 |
10124061 |
18/09/2008 |
250,000,000.00 |
Barclays Bank Plc |
801/808, Ceejay House, Shivsagar Estate,, Dr. Annie Besant Road,
Worli, Mumbai, Maharashtra - 400018, INDIA |
A46813713 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Computer equipments
Intangible assets
- Goodwill
- Computer software
CMT REPORT (Corruption, Money Laundering and 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.66.11 |
|
|
1 |
Rs.101.03 |
|
Euro |
1 |
Rs.70.77 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE AND RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
52 |
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 and 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.