MIRA INFORM REPORT
|
Report No. : |
345320 |
|
Report Date : |
15.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHOWGULE INDUSTRIES PRIVATE LIMITED (w.e.f. 28.12.2006) |
|
|
|
|
Formerly Known
As : |
CHOWGULE INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
Chowgule House, Marmugao Harbour, Goa - 403803 |
|
Tel. No.: |
91-832-2525000 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
30.11.1963 |
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|
|
|
Com. Reg. No.: |
24-000010 |
|
|
|
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Capital
Investment / Paid-up Capital : |
Rs.384.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51109GA1963PTC000010 |
|
|
|
|
IEC No.: |
0307044980 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
BLRC03207B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCC9272H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is engaged in retailing of Cars for Maruti Suzuki India
Limited (MSIL) and light commercial vehicles for SwarajMazda Limited (SML). |
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|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Chowgule Industries Private Limited was established in 1963 as a trading arm of the Chowgule Group. It is engaged in retailing of Cars for Maruti Suzuki India Limited (MSIL) and light commercial vehicles for SwarajMazda Limited (SML). It has fine track. The rating takes into consideration strong financial risk profile of the company marked by healthy networth base along with comfortable debt level in FY14. Further the management has reported decent growth in its revenue base however reported thin profit margin. Trade relations are fair. Business is active. Payment terms are reported to be regular and as per commitments. In view of long track record of business operations, the company can be considered for business dealings with 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 |
|
Rating |
Long term fund based limits : A |
|
Rating Explanation |
High degree of safety and low credit risk. |
|
Date |
August 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term fund based limits : A1 |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
August 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 DECLINED
MANAGEMENT NON CO-OPERATIVE (91-832-2525000/2525004/2525061)
LOCATIONS
|
Registered Office : |
Chowgule House, Marmugao Harbour, Goa – 403803, India |
|
Tel. No.: |
91-832-2525000/2525004/2525061 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
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|
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|
Showroom and Workshop: |
Located at
|
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Padma Chowgule |
|
Designation : |
Managing director |
|
Address : |
91, Advent, 9th Floor, Gen. Jagannathrao Bhosle Marg,
Mumbai - 400021, Maharashtra, India |
|
Date of Birth/Age : |
22.08.1955 |
|
Date of Appointment : |
26.01.1987 |
|
DIN No.: |
00006969 |
|
|
|
|
Name : |
Mr. Kedar Jagdish Desai |
|
Designation : |
Director |
|
Address : |
Flat No.52, Makani Manor, Opposite Jaslok Hospital. Peddar
Road, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
17.08.1971 |
|
Date of Appointment : |
10.12.2012 |
|
DIN No.: |
00322581 |
|
|
|
|
Name : |
Mr. Kapil Kanwal Grover |
|
Designation : |
Director |
|
Address : |
Flat No 12-A Mistry Manor, 62-A Nepean Sea Road, Mumbai -
400006, Maharashtra, India |
|
Date of Birth/Age : |
19.05.1956 |
|
Date of Appointment : |
10.12.2012 |
|
DIN No.: |
00032106 |
|
|
|
|
Name : |
Mr. Ashok V Chowgule |
|
Designation : |
Director |
|
Address : |
Kanchan Gunga, 26th Floor, Dr. G. Deshmukh Marg, Kemps
Corner, Mumbai - 400026, Maharashtra, India |
|
Date of Birth/Age : |
25.01.1948 |
|
Date of Appointment : |
07.06.1974 |
|
DIN No.: |
00018970 |
|
|
|
|
Name : |
Mr. Jehangir Hirji Cawasji Jehangir |
|
Designation : |
Director |
|
Address : |
Readymoney House, 49 Nepean Sea Road, Mumbai - 400036,
Maharashtra, India |
|
Date of Birth/Age : |
23.11.1953 |
|
Date of Appointment : |
07.08.1989 |
|
DIN No.: |
00001451 |
|
|
|
|
Name : |
Mr. Nirmal Pratap Bhogilal |
|
Designation : |
Director |
|
Address : |
26, B.G.Kher Marg, Malabar Hill, Mumbai - 400006,
Maharashtra, India |
|
Date of Birth/Age : |
14.05.1949 |
|
Date of Appointment : |
24.01.2001 |
|
DIN No.: |
00173168 |
KEY EXECUTIVES
|
Name : |
Mr. Vivek Vasantrao Mangoli |
|
Designation : |
Secretary |
|
Address : |
Block No. 1, Chowgule Resi. Complex, Near La Rose Building,
Mangor, Vasco Da Gama - 403802, Goa, India |
|
Date of Birth/Age : |
22.07.1965 |
|
Date of Appointment : |
01.06.2005 |
|
PAN No: |
AAUPM5556H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Chowgule D. Yeshwantrao |
|
19645 |
|
Chowgule And Company Private Limited, India |
|
2602635 |
|
Chowgule V. Vijay |
|
13072 |
|
Chowgule V. Ashok |
|
13072 |
|
Chowgule V. Rohini |
|
9816 |
|
Chowgule V. Umaji |
|
13072 |
|
Chowgule V. Padma |
|
9817 |
|
Seashine Investment and Trading Private Limited, India |
|
1100 |
|
Zebra Investment and Trading Private Limited, India |
|
550 |
|
Chowgule L. Suresh |
|
3928 |
|
Chowgule L. Ramesh |
|
3929 |
|
Chowgule L. Satish |
|
3929 |
|
Chowgule L. Dilip |
|
3929 |
|
Chowgule L. Santosh |
|
3929 |
|
Dolphin Extrusion Private Limited, India |
|
1099163 |
|
Dolphin Ore Extraction Private Limited, India |
|
1099162 |
|
Dolphin Mining Services Private Limited, India |
|
1099161 |
|
Shirke P. Sarita |
|
91 |
|
Total |
|
6000000 |
|
Names of Shareholders (preference Shares) |
|
No. of Shares |
|
Chowgule and Company Private Limited, India |
|
5450000 |
|
Chowgule and Company Private Limited, India |
|
27000000 |
|
Total |
|
32450000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
98.36 |
|
Directors or relatives of Directors |
0.98 |
|
Other top fifty shareholders |
0.66 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in retailing of Cars for Maruti Suzuki India
Limited (MSIL) and light commercial vehicles for SwarajMazda Limited (SML). |
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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 Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
S. B. Billimoria and Company Chartered Accountants |
|
Address : |
28 Hughes Road, Mumbai – 400007, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFS7376P |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary company: |
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Associate |
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Other : |
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|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives: |
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CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs. 60.000 Million |
|
33000000 |
Preference Shares |
Rs.10/- each |
Rs. 330.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 390.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs. 60.000 Million |
|
32450000 |
Preference Shares |
Rs.10/- each |
Rs. 324.500 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 384.500
Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
384.500 |
384.500 |
384.500 |
|
(b) Reserves & Surplus |
723.332 |
594.714 |
486.265 |
|
(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) |
1107.832 |
979.214 |
870.765 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
128.789 |
94.611 |
59.390 |
|
(b) Deferred tax liabilities
(Net) |
6.579 |
4.459 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.045 |
0.034 |
0.047 |
|
Total
Non-current Liabilities (3) |
135.413 |
99.104 |
59.437 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
741.932 |
702.557 |
551.117 |
|
(b) Trade payables |
46.594 |
47.222 |
64.456 |
|
(c) Other current liabilities |
376.269 |
438.146 |
275.372 |
|
(d) Short-term provisions |
6.460 |
6.581 |
7.631 |
|
Total
Current Liabilities (4) |
1171.255 |
1194.506 |
898.576 |
|
|
|
|
|
|
TOTAL |
2414.500 |
2272.824 |
1828.778 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
991.333 |
906.925 |
584.531 |
|
(ii) Intangible Assets |
1.367 |
1.952 |
2.463 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
4.924 |
19.166 |
175.889 |
|
(b) Non-current Investments |
22.949 |
22.949 |
22.949 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
1.904 |
|
(d) Long-term Loan and Advances |
85.635 |
72.617 |
52.905 |
|
(e) Other Non-current assets |
0.000 |
5.500 |
98.234 |
|
Total
Non-Current Assets |
1106.208 |
1029.109 |
938.875 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.156 |
2.134 |
6.100 |
|
(b) Inventories |
886.557 |
846.749 |
611.629 |
|
(c) Trade receivables |
110.531 |
122.576 |
114.822 |
|
(d) Cash and cash equivalents |
180.535 |
176.011 |
28.304 |
|
(e) Short-term loans and
advances |
118.743 |
84.797 |
119.780 |
|
(f) Other current assets |
11.770 |
11.448 |
9.268 |
|
Total
Current Assets |
1308.292 |
1243.715 |
889.903 |
|
|
|
|
|
|
TOTAL |
2414.500 |
2272.824 |
1828.778 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Revenue from operations |
8756.600 |
8518.459 |
7869.213 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL
|
NA |
NA |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
280.285 |
235.320 |
175.626 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
82.164 |
67.193 |
51.613 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
198.121 |
168.127 |
124.013 |
|
|
|
|
|
|
|
Less |
TAX |
71.120 |
59.463 |
39.798 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
127.001 |
108.664 |
84.215 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
555.994 |
447.330 |
363.546 |
|
|
|
|
|
|
|
Add
/Less |
Prior year taxes |
(1.813) |
0.000 |
(0.431) |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
684.808 |
555.994 |
447.330 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
3.30 |
NA |
NA |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
69.916 |
72.849 |
34.600 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
187.940 |
291.205 |
236.324 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.45 |
1.28 |
1.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.30 |
7.54 |
7.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.17 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.85 |
0.89 |
0.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12 |
1.04 |
0.99 |
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 |
384.500 |
384.500 |
384.500 |
|
Reserves & Surplus |
486.265 |
594.714 |
723.332 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
870.765 |
979.214 |
1107.832 |
|
|
|
|
|
|
long-term borrowings |
59.390 |
94.611 |
128.789 |
|
Short term borrowings |
551.117 |
702.557 |
741.932 |
|
Current maturities of
long-term debts |
34.600 |
72.849 |
69.916 |
|
Total
borrowings |
645.107 |
870.017 |
940.637 |
|
Debt/Equity
ratio |
0.741 |
0.888 |
0.849 |
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) |
|
Revenue from operations |
7869.213 |
8518.459 |
8756.600 |
|
|
|
8.250 |
2.796 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Revenue from operations |
7869.213 |
8518.459 |
8756.600 |
|
Profit |
84.215 |
108.664 |
127.001 |
|
|
1.07% |
1.28% |
1.45% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
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) |
No |
|
16 |
No. of employees |
No |
|
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 three 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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS AND SALES:
The Revenue from operations of the Company for the year was Rs. 8756.600 Million as against Rs. 8518.459 Million in the previous year. Other income including was Rs. 20.416 Million as against Rs.12.760 Million in the pervious year.
CURRENT YEAR OUTLOOK
The Company expects better results and development in the current year.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
SHORT TERM
BORROWING |
|
|
|
Working capital loans from banks |
88.987 |
124.919 |
|
Loans and advances from related parties |
0.000 |
25.660 |
|
Total |
88.987 |
150.579 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10473947 |
10/01/2014 |
170,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B94849791 |
|
2 |
10441529 |
26/07/2013 |
47,200,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B81260101 |
|
3 |
10375439 |
21/08/2012 |
90,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B57663148 |
|
4 |
10357756 |
10/05/2012 |
18,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B40462277 |
|
5 |
90077093 |
31/12/2013 * |
624,600,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH, TARA CHAMBERS, WAKDEWA |
B93980829 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Computer equipments
- Other equipments
Intangible assets
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, 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 records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.11 |
|
UK Pound |
1 |
Rs.99.50 |
|
Euro |
1 |
Rs.74.24 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & 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 |
7 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
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.