MIRA INFORM REPORT
|
Report No. : |
339212 |
|
Report Date : |
02.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
CAUVERY POWER GENERATION CHENNAI PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
New No. 5, Ranganathan Garden, Anna Nagar, Chennai - 600040, Tamilnadu
|
|
Tel. No.: |
91-44-42172116 |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
09.04.2009 |
|
|
|
|
Com. Reg. No.: |
18-071271 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 787.922 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40100TN2009PTC071271 |
|
|
|
|
IEC No. |
0409020991 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AADCC7245B |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the generation and distribution of power. |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit limit : |
USD 2200000 |
|
|
|
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The company possesses moderate operational performance and it has
incurred huge loss from its operational activities during FY 2014. Rating further constrained on account of company’s moderate financial
risk profile marked by modest networth and leverage balance sheet profile of
the company. However, trade relations are reported as fair. Payment are reported to
be slow but correct. In view of operational loss, the company can be considered for
business dealing 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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long
Term Rating = B |
|
Rating Explanation |
Risk-prone-credit-quality and carries very
high credit risk |
|
Date |
July 16, 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk |
|
Date |
July 16, 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
31-03-2013.
INFORMATION DENIED BY
|
Name : |
Mr. Karthik |
|
Designation : |
A.G.M (Finance) |
|
Contact No.: |
91-44-42172116 |
|
Date : |
01.09.2015 |
LOCATIONS
|
Registered Office : |
New No. 5, Ranganathan Garden, Anna Nagar, Chenai-600040, Tamilnadu |
|
Tel. No.: |
91-44-42172116 |
|
Fax No.: |
91-44-42172118 |
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E-Mail : |
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|
Website : |
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Plant 1: |
Mayiladuturai Nagpatnam, Chennai-600040, Tamilnadu, India |
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Plant 2: |
Located at : Billakuppam, Village, Gummidipondi |
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DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Premkumar Ayyaduri |
|
Designation : |
Director |
|
Address : |
370/6, Temple Colony, 15th Main road, Annanagar, Chennai –
600040, Tamilnadu, India |
|
Date of Appointment : |
09.04.2009 |
|
DIN No.: |
01725838 |
|
|
|
|
Name : |
Mr. Elangovan Shunmugam |
|
Designation : |
Director |
|
Address : |
1848/1, 6th Avenue,
Annanagar, Chennai – 600040, Tamilnadu, India |
|
Date of Appointment : |
09.04.2009 |
|
DIN No.: |
00342952 |
KEY EXECUTIVES
|
Name : |
Mr. Karthik |
|
Designation : |
A.G.M Finance |
|
|
|
|
Name : |
Mr. Ravikannan Mani |
|
Designation : |
Secretary |
|
Address : |
Plot No. 23 II Main Road, Alwarthirunagar Annex, Chennai, 600087, Tamil Nadu, INDIA |
|
Date of Appointment : |
12/11/2014 |
|
PAN No.: |
AASPR9742A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Abirami |
|
500000 |
|
Cauvery Power Trading Chennai Limited, India |
|
20498200 |
|
Elangovan |
|
3500000 |
|
Kaveri Gas Power Limited, India |
|
27606000 |
|
Praseeda |
|
1000000 |
|
Premkumar |
|
2500000 |
|
Ramesh |
|
500000 |
|
Shankar |
|
1000000 |
|
Shri Ramalinga Mills Limited, India |
|
800800 |
|
Aruppukottai Shri Ramalinga Spinners Private Limited, India |
|
800000 |
|
Nelcast Limited, India |
|
1440000 |
|
Sri Jayajothi and Company Limited, India |
|
400000 |
|
Sree Koppammal Cotton Spinning Mills Private Limited, India |
|
200000 |
|
GVDT Textiles Private Limited, India |
|
210000 |
|
Sri Saravana Tex Exports India Private Limited, India |
|
440000 |
|
Thirupathi Yarntex Spinners Private Limited, India |
|
240000 |
|
Rasi Tex (IN) Private Limited, India |
|
260000 |
|
Mothi Spinner Limited, India |
|
1570000 |
|
Lucky Yarn Tex India Limited, Erode |
|
400000 |
|
VSM Weaves India Limited, Erode
|
|
400000 |
|
Sree Cheran Synthetics India Limited, India |
|
800000 |
|
Cheran Spinner Limited, Erode |
|
640000 |
|
Sree Rathnalakshmi Mills Private Limited, India |
|
340000 |
|
Jayalakshmi Testiles Private Limited, India |
|
560000 |
|
Pallava Apinning Mills Private Limited, India |
|
1120000 |
|
Pandiyan Textile Mills Private Limited, India |
|
680000 |
|
Chola Textile Private Limited, India |
|
600000 |
|
Divya spinning Mills Private Limited |
|
480000 |
|
Jayavarma Textile Private Limited, India |
|
720000 |
|
Manchester Textile Private Limited, India |
|
320000 |
|
R.V. Steels Private Limited, India |
|
667200 |
|
Pavathai Spinning Mills Private Limited, India |
|
80000 |
|
Boobalan S. |
|
200000 |
|
Kumaragiri Spinning Limited, Erode |
|
140000 |
|
Tube Investments of India Limited, India |
|
2400000 |
|
Bannari Ammman Spinning Mills Limited, India |
|
1720000 |
|
Siva Texyan Limited, India |
|
560000 |
|
Victory Spinning Mills Limited, India |
|
480000 |
|
Sree Gomati Amman Spinning Mills Private Limited, Erode |
|
80000 |
|
Sri Giri Spinning Mills (India) Private Limited, Erode |
|
300000 |
|
Santhi Processing Unit Private Limited, Erode |
|
60000 |
|
Vindhya Spinning Mills Private Limited, India |
|
400000 |
|
Lskshmi Spinning Mills Private Limited, India |
|
100000 |
|
Harshini Electrical Drivers Limited, India |
|
400000 |
|
Senthilkumar Textile Mills Private Limited, India |
|
200000 |
|
Pavizham Spinning Private Limited, India |
|
280000 |
|
Pallava Textiles Limited, India |
|
200000 |
|
Total |
|
78792200 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2014
|
Category |
Percentage |
|
Bodies corporate |
88.32 |
|
Directors or relatives of Directors |
10.79 |
|
Other top fifty shareholders |
0.89 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the generation and distribution of power. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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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 : |
Not Divulged |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
V. Senthilnathan and Company Chartered Accountants |
|
Address : |
Plot No 1633, II Floor, H Block,13th Main Road Anna Nagar (West) Chennai, Tamilnadu, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AARFS1634D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates : |
CIN No.: U65191TN1993PLC024347
CIN No.: U40101TN2000PLC045283 |
CAPITAL STRUCTURE
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
79,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 790.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
78,792,200 |
Equity Shares |
Rs.10/- each |
Rs.787.922
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 |
787.922 |
367.640 |
223.000 |
|
(b) Reserves & Surplus |
95.209 |
181.644 |
180.000 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
520.204 |
437.794 |
|
Total
Shareholders’ Funds (1) + (2) |
883.131 |
1069.488 |
840.794 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1649.023 |
1266.442 |
1358.761 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
164.501 |
229.478 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
1813.524 |
1495.920 |
1358.761 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
485.113 |
670.816 |
506.508 |
|
(b) Trade payables |
384.332 |
157.984 |
286.039 |
|
(c) Other current liabilities |
341.039 |
312.396 |
88.512 |
|
(d) Short-term provisions |
0.450 |
0.440 |
0.000 |
|
Total
Current Liabilities (4) |
1210.934 |
1141.636 |
881.059 |
|
|
|
|
|
|
TOTAL |
3907.589 |
3707.044 |
3080.614 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3088.723 |
3301.404 |
81.200 |
|
(ii) Intangible Assets |
0.454 |
0.135 |
0.163 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
2327.089 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
3.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
16.514 |
5.851 |
386.228 |
|
(e) Other Non-current assets |
3.292 |
1.745 |
109.737 |
|
Total
Non-Current Assets |
3108.983 |
3309.135 |
2907.417 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
|
|
(b) Inventories |
282.280 |
74.864 |
0.000 |
|
(c) Trade receivables |
224.292 |
231.822 |
0.000 |
|
(d) Cash and cash equivalents |
36.118 |
22.062 |
4.074 |
|
(e) Short-term loans and
advances |
238.457 |
54.549 |
169.067 |
|
(f) Other current assets |
17.459 |
14.612 |
0.056 |
|
Total
Current Assets |
798.606 |
397.909 |
173.197 |
|
|
|
|
|
|
TOTAL |
3907.589 |
3707.044 |
3080.614 |
PROFIT AND LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Revenue from Operations |
|
1886.287 |
541.377 |
|
|
Other Income |
|
2.487 |
0.998 |
|
|
TOTAL
|
|
1888.774 |
542.375 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
|
|
1483.257 |
385.105 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
405.517 |
157.270 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
357.511 |
105.493 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
48.006 |
51.777 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
|
133.991 |
49.693 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
(85.985) |
2.084 |
|
|
|
|
|
|
|
Less |
TAX |
|
0.45 |
0.45 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
(86.435) |
1.634 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
|
(86.435) |
1.634 |
|
|
|
|
|
|
|
|
EARNING PER SHARE |
|
(1.09) |
0.02 |
|
|
|
|
|
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
236.536 |
210.373 |
0.000 |
|
Cash generated from operations |
N.A |
N.A |
N.A |
|
Net cash flow from operating activity |
1654.526 |
672.124 |
270.079 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(4.58) |
0.30 |
N.A |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
100.13 |
100.18 |
N.A |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.20) |
0.06 |
N.A |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.10) |
0.00 |
N.A |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.68 |
2.01 |
2.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.66 |
0.35 |
0.20 |
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 |
223.000 |
367.640 |
787.922 |
|
Reserves & Surplus |
180.000 |
181.644 |
95.209 |
|
Share Application money pending allotment |
437.794 |
520.204 |
0.000 |
|
Net
worth |
840.794 |
1069.488 |
883.131 |
|
|
|
|
|
|
long-term borrowings |
1358.761 |
1266.442 |
1649.023 |
|
Short term borrowings |
506.508 |
670.816 |
485.113 |
|
Current maturities of
long-term debts |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
1865.269 |
1937.258 |
2134.136 |
|
Debt/Equity
ratio |
2.218 |
1.811 |
2.417 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
541.377 |
1886.287 |
|
|
248.424 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
541.377 |
1886.287 |
|
Profit |
1.634 |
(86.435) |
|
|
0.30% |
(4.58)% |
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 |
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) |
Yes |
|
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 two years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last two years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
No |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS AND FINANCIAL PERFORMANCE:
During the year,
the performance of the company has resulted in a cash profit of Rs 48.0.06
Million. In the first half of the year, there was a steep hike in the price of
coal due to the sudden and unexpected depreciation of the Rupee against the US
dollar and further the interest cost was also very high. Both the above factors
contributed to poor performance during the first half of the financial year.
The company streamlined its operation during the second half as the capacity
utilization improved to 85% and the rupee also stabilized which led to better
performance and profitability. Losses incurred during the first half could not
be fully offset during the second half.
PROSPECTS AND
OUTLOOK:
Energy Sector is one of the lucrative industries since the supply is not sufficient to meet the increasing energy demand. The widening of supply and demand gap has explored more avenues for new projects coming up to fill the gap. The prospects of the company are good as there is no cut-throat completion prevalent in the energy sector. It is apprehended that in the near future, many power plants may be put up which may have an impact on the prospects and profitability of the company. The methodology of pricing is being consistently monitored and reviewed which will keep the company to have optimal results.
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10464278 |
17/02/2014 * |
532,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, MAKER TOWER, 'E',, CUFFE PARADE,, MUMBAI, Maharashtra - 400005,
INDIA |
C00468462 |
|
2 |
10437694 |
28/06/2013 |
100,000,000.00 |
STATE BANK OF HYDERABAD |
INDUSTRIAL FINANCE BRANCH 1ST FLOOR,, 45, II LINE |
B79992434 |
|
3 |
10425412 |
17/04/2013 |
50,000,000.00 |
STATE BANK OF MYSORE |
576, ANNASALAI, TEYNAMPET, CHENNAI, Tamil Nadu - |
B75026401 |
|
4 |
10410331 |
15/02/2013 |
150,000,000.00 |
STATE BANK OF TRAVANCORE |
NO 566, JEEVAN ANAND, TEYNAMPET, CHENNAI, Tamil Nadu - 600018, INDIA |
B70270939 |
|
5 |
10339699 |
31/12/2012 * |
432,000,000.00 |
State Bank of India |
Commercial Branch, No.232 NSC Bose Road, Chennai, |
B66226622 |
|
6 |
10219958 |
17/02/2014 * |
2,190,000,000.00 |
SBICAP TRUSTEE COMPANY LIMITED |
202, 'MAKER TOWER 'E',, CUFFE PARADE, MUMBAI, Maharashtra - 400005,
INDIA |
C00467688 |
FIXED ASSETS
TANGIBLE ASSETS
- Land
- Buildings
- Factory building
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Office equipment
- Computer 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.66.26 |
|
|
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.74.78 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE
& RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
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 |
|
26 |
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.