MIRA INFORM REPORT

 

 

Report No. :

342634

Report Date :

25.09.2015

 

IDENTIFICATION DETAILS

 

Name :

INDUS PROJECTS LIMITED (w.e.f. 29.06.1994)

 

 

Formerly Known As :

INDUS PROJECTS PRIVATE LIMITED

 

 

Registered Office :

304, Loha Bhavan, P. D Mello Road, Mumbai - 400059, Maharashtra

Tel. No.:

91-22-23422796 / 23420686

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

17.11.1997

 

 

Com. Reg. No.:

11-111921

 

 

Capital Investment / Paid-up Capital :

Rs.71.460 Million

 

 

CIN No.:

[Company Identification No.]

U74210MH1997PLC111921

 

 

IEC No.:

0388099364

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUM103182E

 

 

PAN No.:

[Permanent Account No.]

AAAC12537B

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Subject is engaged into Designing Manufacture and Erection of Medium / Heavy Capital Equipment for Oil and Gas, Pertroleum, Petrochemicals, Pharmaceutical, Mineral Processing, Man Made Fibres, Fertilizers and Nuclear Power Plants.

 

 

No. of Employees :

Information declined by the management.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca (12)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated in the year 1997 having moderate track.

 

Management of the company has not filed its financials after the year 2011 with the government department.

 

As per Registrar of Companies the date of balance sheet (i.e. financial filed) is shown as 31.03.2011 but the documents related to the financial for the year 2011 are not available from any sources.

 

As per available financial of 2010, financial of the company seems to be fair.

 

Mr. Srichand Hariani (Contacted person of the company) denied to part any information about the company.

 

As per Registrar of Companies the status of the company is shown as active. Payments are unknown.

 

The company can be considered for business dealings on safe and secured 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

CRISIL

Rating

Cash Credit : BB+

Rating Explanation

Moderate risk of default.

Date

25.07.2014

 

Rating Agency Name

CRISIL

Rating

Letter of Credit : A4+

Rating Explanation

Minimal degree of safety and carry very low credit risk.

Date

25.07.2014

 

 

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 DENIED BY

 

Name :

Mr. Srichand Hariani

Designation :

Not Divulged

Contact No.:

91-9820860871

Date :

24.09.2015

 

 

LOCATIONS

 

Registered Office  / Head Office:

304, Loha Bhavan, P. D Mello Road, Mumbai – 400009, Maharashtra, India

Tel. No.:

91-22-26328306/ 3348/ 9349/ 7737/ 9658/ 0996/ 28506740/ 23422796 / 23422796/ 23420686 / 67154800

Mobile No.:

91-9820860871 (Mr. Srichand Hariani)

Fax No.:

91-22-26320720

E-Mail :

Indus1@vsnl.com

madhura@induseng.com

Website :

http://www.indianprocessplants.com

http://www.induseng.com

Area :

20000 sq. ft.

Location :

Owned

 

 

Factory 1 :

S/86, Marol Naka, Mathuradas Vasanji Road, Near Mittal Estates, Andheri (East), Mumbai - 400059, Maharashtra, India

Tel. No.:

91-22-28508306/ 3348/ 4737/ 9349

Fax No.:

91-22-28506740

E-Mail :

ndus1@vsnl.com

Area :

409000 sq. ft.

Location :

Owned

 

 

Factory 2 :

Plot B-40, Wagle Industrial Estate Road No. 23, Thane – 400604, Maharashtra, India

Tel. No.:

91-22-25822347/ 25822348

 

 

Branch Office 1:

206, Red Rose Building, Nehru Place, New Delhi – 110019, India

Tel. No.:

91-11-26468040/ 60

Fax No.:

91-11-26476077

 

 

Branch Office 2 :

Nahar Park, 1st Floor, 45/4 A, Chakraberia Road (South), Kolkata – 700025, West Bengal, India 

Tel. No.:

91-33-24863540/ 3593/3594

Fax No.:

91-33-24863541

 

 

 

/DIRECTORS

 

AS ON 30.09.2011

                                               

Name :

Mr. Kishor Himatlal Mehta

Designation :

Chairman cum Managing Director

Address :

27, Jitendra Lane, Juhu Tara Road, Behind Manek Mahal, Beach Side Bunglow, Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

25.06.1930

Date of Appointment :

08.12.1993

DIN No.:

01253621

 

 

Name :

Mr. Madhur Kishor Mehta

Designation :

Director

Address :

27, Jitendra Lane, Juhu Tara Road, Behind Manek Mahal, Beach Side Bunglow, Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

17.11.1965

Date of Appointment :

17.11.1997

DIN No.:

01035407

 

 

Name :

Mr. Mahavir Kishor Mehta

Designation :

Director

Address :

27, Jitendra Lane, Juhu Tara Road, Behind Manek Mahal, Beach Side Bunglow, Mumbai – 400049, Maharashtra, India

Date of Birth/Age :

13.10.1963

Date of Appointment :

17.11.1997

DIN No.:

01253566

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2011

 

Names of Shareholders

No. of Shares

Kishor H. Mehta

100

Shrenik H. Mehta

27380

Abhay K. Mehta

83480

Mahavir K. Mehta

80130

Madhur K. Mehta

81030

Usha Mehta

18350

Nabhiraj S. Mehta

27380

Indus Mechanical Engineering Company Private Limited, India

329460

Kishor H. Mehta

10887

Kishor H. Mehta

5110

Kishor H. Mehta

1830

Kishor H. Mehta

8150

Devika Mehta

8960

Abhay K. Mehta

750

Abhay K. Mehta

400

Mahavir K. Mehta

740

Madhur K. Mehta

110

Pashmina M. Mehta

7100

Jesal M. Mehta

7000

Suniska M. Mehta

220

Sonal A. Mehta

7000

Kishor H. Mehta

9040

 

 

Total

714607

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2011

 

Category

Percentage

Bodies corporate

46.10

Directors or relatives of Directors

53.90

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged into Designing Manufacture and Erection of Medium / Heavy Capital Equipment for Oil and Gas, Pertroleum, Petrochemicals, Pharmaceutical, Mineral Processing, Man Made Fibres, Fertilizers and Nuclear Power Plants.

 

 

Products :

Chemical Process Plant Equipments

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

Not Available

 

PRODUCTION STATUS (As on 31.03.2010)

 

Particulars

Unit

Licensed Capacity

Installed Capacity

Actual Production

Production 

No

N.A

N.A

3846

 

Kgs

N.A

N.A

144613.100

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

  • Asian Paints (India) Limited
  • Bayer India Limited
  • Bhabha Atomic Research Centre
  • Bharat Petroleum Corporation Limited
  • Bongaigaon Refinery And Petro Limited
  • Chemtex Overseas Inc
  • Department Of Atomic Energy
  • Emerk (India) Limited
  • East India Petroleum Limited
  • Fertilizer Corporation India Limited
  • Gas Authority Of India Limited
  • Glaxo Limited
  • Gujarat Narmada Valley Fert Company Limited
  • Gujarat Chemical Port Terminal Company Limited
  • Haldia Petrochemicals Limited
  • Hindustan Level Limited
  • Hindustan Petroleum Corporation Limited
  • Hoechst Pharmaceuticals Limited
  • Indian Dyestuff Industries Limited
  • Indian Explosives Limited
  • Indian Oil Corporation Limited
  • Indian Petrochemicals Corporation Limited
  • J K Chemicals Limited
  • Krishak Bharati Co-operative Limited (Kribhco)
  • Larsen and Toubro Limited
  • Madras Refineries Limited
  • Modipon Limited
  • Numaligarh Refinery Limited
  • Narmada Chematur Petro Limited
  • Narora Atomic Power Project Limited
  • Oil & Natural Gas Corporation
  • Petrofils Co-Operative Limited
  • Polychem Limited
  • Rajasthan Atomic Power Project
  • Rashtriya Chemicals and Fertilizers Limited
  • Reliance Industries Limited
  • Sadhana Nitrochem Private Limited
  • Standard Engineers Private Limited
  • Tamilnadu Chemical Products Limited
  • Ub Petro Products Limited
  • Uop Asia Limited
  • Vinyl Chemicals India Limited
  • Wipro Products Limited

 

 

 

No. of Employees :

Information declined by the management.

 

 

Bankers :

Bank Name

HDFC Bank Limited

Branch

HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013, 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 Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

Corporation Bank

 

 

Facilities :

Secured Loan

31.03.2010

(Rs. in Million)

31.03.2009

(Rs. in Million)

Hire Purchases Finances

[Hire Purchases loans are secured against the hypothecations of the respective assets]

14.695

14.514

Working Capital Finance from Banks Cash Credits Facilities

[Working Capital facilities both fund based and non-fund based are secured by hypothecation charge on raw material stock in process, stores and spares and finished goods, book debts of the company it is further secured by extended change on specific fixed assets of the partnership firm Indus Engineering Company and Indus Mechanical Engineering Private Limited and Mr. Kishor H. Mehta besides directors guarantees.]

146.922

144.470

Total

161.617

158.984

 

 

 

 

Financial Institution :

L and T Finance Limited, L and T House, Ballard Estate, Mumbai – 400 001, Maharashtra, India

 

 

Auditors :

 

Name :

Vipul J Doshi and Company

Chartered Accountants

Address :

208, Parekh Market, 39, JSS Road, Near Kennedy Bridge, Opera House, Mumbai – 400004, Maharashtra, India

Tel. No.:

91-22-23827067

PAN.:

AAEPD6563H

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Sister Concerns

[AS ON 31.03.2010] :
  • United Technologists and Chemicals Products Private Limited, Tarapur
  • Indus Scaffolding Private Limited
  • Indus Mechanicals Engineering Company Private Limited, India

 

 

Partnership Firm

[AS ON 31.03.2010]:
  • Indus Engineering Company
  • Mehta Engineering Works

 

 

Other related parties

[AS ON 31.03.2010]  :
  • D. V. Engineering
  • ABS Engineering

           

 

CAPITAL STRUCTURE

 

AS ON 30.09.2010

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1000000

Equity Shares

Rs.10/- each

Rs.100.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

714607

Equity Shares

Rs.10/- each

Rs.71.460 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2010

31.03.2009

31.03.2008

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

71.460

71.460

71.460

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

396.387

303.647

251.925

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

467.847

375.107

323.385

LOAN FUNDS

 

 

 

1] Secured Loans

161.617

158.984

130.441

2] Unsecured Loans

14.176

23.383

12.195

TOTAL BORROWING

175.793

182.367

142.636

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

643.640

557.474

466.021

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

87.060

84.526

75.733

Capital work-in-progress

0.346

0.346

0.346

 

 

 

 

INVESTMENT

3.867

3.867

3.867

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
185.529
327.510

316.174

 

Sundry Debtors
276.561
408.514

340.838

 

Cash & Bank Balances
65.271
57.931

102.099

 

Other Current Assets
0.000
0.000

0.000

 

Loans & Advances
142.737
95.450

86.305

Total Current Assets
670.098

889.405
845.416

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
56.834
236.515

278.088

 

Other Current Liabilities
18.816
142.075
139.099

 

Provisions
42.130
42.130

42.204

Total Current Liabilities
117.780

420.720

459.391

Net Current Assets
552.318

468.685

386.025

 

 

 

 

MISCELLANEOUS EXPENSES

0.049

0.050

0.050

 

 

 

 

TOTAL

643.640

557.474

466.021

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2010

31.03.2009

31.03.2008

 

SALES

 

 

 

 

 

Sales and Services

864.800

921.749

1084.877

 

 

Branch Transfers

14.746

10.219

12.064

 

 

Miscellaneous Income

19.934

14.446

27.508

 

 

TOTAL

899.480

946.414

1124.449

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Material

385.085

430.928

576.422

 

 

Branch Transfers

14.746

10.219

12.064

 

 

Excise Duty and Service Tax

54.486

62.617

65.020

 

 

Manufacturing Expenses

172.991

231.655

210.857

 

 

Repair and Maintenance

1.052

2.189

1.602

 

 

Administrative Expenses

52.403

57.153

63.901

 

 

Prior Period Adjustment (Expenses)

1.841

0.221

0.153

 

 

Bad Debts (Old Doubtful Debts)

82.818

0.000

31.302

 

 

TOTAL            

765.422

794.982

961.321

 

 

 

 

 

 

 

 

 

 

 

Less

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

134.058

151.431

163.126

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

37.166

50.244

41.321

 

 

 

 

 

 

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

96.892

101.187

121.805

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

6.539

6.212

4.968

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

90.353

94.975

116.837

 

 

 

 

 

Less

TAX                                                                  (H)

40.000

40.000

40.000

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

50.353

54.975

76.837

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

303.647

251.925

170.065

 

 

 

 

 

Add

Prior Period Income

58.018

0.000

0.000

 

 

 

 

 

Less/ Add

Income Tax Refund

(15.632)

(3.253)

5.023

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

396.387

303.647

251.925

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Projects outside India

35.509

5.225

0.000

 

 

Services Charges

0.000

0.000

0.500

 

 

Export Sale

43.731

67.971

92.249

 

TOTAL EARNINGS

79.240

73.196

92.749

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

14.831

172.437

319.619

 

 

Bought  Out

45.775

30.409

29.499

 

 

Consumables – Electrodes

0.000

2.238

0.000

 

 

Machinery

0.000

8.151

0.000

 

TOTAL IMPORTS

60.606

213.235

349.118

 

 

 

 

 

 

Earnings Per Share (Rs.)

70.46

NA

NA

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2010

31.03.2009

31.03.2008

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flow from (used in) operations

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2010

31.03.2009

31.03.2008

Net Profit Margin

(PAT / Sales)

(%)

5.82

5.96

7.08

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

15.50

16.43

15.04

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

11.93

9.75

12.68

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.19

0.25

0.36

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.38

0.49

0.44

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

5.69

2.11

1.84

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2008

31.03.2009

31.03.2010

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

71.460

71.460

71.460

Reserves & Surplus

251.925

303.647

396.387

Share Application money pending allotment

0.000

0.000

0.000

Net worth

323.385

375.107

467.847

 

 

 

 

Secured Loans

130.441

158.984

161.617

Unsecured Loans

12.195

23.383

14.176

Total borrowings

142.636

182.367

175.793

Debt/Equity ratio

0.441

0.486

0.376

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2008

31.03.2009

31.03.2010

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

1084.877

921.749

864.800

 

 

(15.037)

(6.178)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2008

31.03.2009

31.03.2010

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

1084.877

921.749

864.800

Profit

76.837

54.975

50.353

 

7.08%

5.96%

5.82%

 

 

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

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

Yes

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

Yes

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

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

 

UNSECURED LOAN

 

PARTICULARS

31.03.2010

(Rs. in Million)

31.03.2009

(Rs. in Million)

From Directors, Banks, Finance Companies and Family Members

14.176

23.383

Total

14.176

23.383

 

 

CONTINGENT LIABILITIES NOT PROVIDED IN RESPECT OF:

 

Particulars

 

31.03.2010

(Rs. In million)

31.03.2009

(Rs. In million)

A. Claims against the company not acknowledged as debts 

To the extend not ascertained

To the extend not ascertained

B. Sales Tax U. P. Sales Tax

8.692 (Matter is in Tribunal Appeal)

8.692 (Matter is in Tribunal Appeal)

C. Outstanding Bank Guarantees

323.804

274.924

D. Letter of Credit Outstanding

20.229

236.586

E. Income-Tax department filed the appeal in Mumbai High Court against the       Tribunal order for A.Y. 1993-94, A.Y. 1994-95 and 1995-96 in the case of Indus Engineering Company (Partnership Firm)

To the extend not ascertained

To the extend not ascertained

F. Central Excises + Custom duty + Penalty

1.204

1.204

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10469208

23/11/2012

45,000,000.00

UNION BANK OF INDIA

SAKI NAKA BRANCH, MITTAL INDUSTRIAL ESTATE,, SANJ 
AY BUILDING NO.2, ANDHERI KURLA RD,ANDHERI (E), MU 
MBAI, MAHARASHTRA - 400059, INDIA

B87175097

2

10337018

30/12/2011

460,000.00

CORPORATION BANK

MAROL-SME BRANCH,ANDHERI(E),BONANZA SAHAR PLAZA,, 
ANDHERI-KURLA ROAD,ANDHERI -EAST, MUMBAI, MAHARAS 
HTRA - 400059, INDIA

B32727505

3

10010043

14/07/2006

20,000,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W 
, MUMBAI, MAHARASHTRA - 400013, INDIA

A02372357

4

80015903

22/06/2015 *

886,200,000.00

CORPORATION BANK

LARGE CORPORATE BRANCH, 301-302, THE EAGLE FLIGHT, 
, SUREN ROAD, ANDHERI KURLA ROAD, ANDHERI EAST,MUMBAI, MAHARASHTRA - 400093, INDIA

C58627688

 

* Date of charge modification

 

OPERATIONS [AS ON 31.03.2010]

 

The company recorded a turnover of Rs.864.800 Million as against Rs.912.749 Million in the previous year. Net profit after tax amounted to Rs.50.353 Million as against Rs.54.975 Million in the previous year. The company among other things, executed jobs of prestigious clients like India Oil Corporation limited and Haldia Petrochemicals Limited

 

FIXED ASSETS:

 

  • Goodwill
  • Flat at Noida
  • Land at Wada, Maharashtra
  • Building (Flat)
  • Office Premises at Vadodra
  • Plant Machinery
  • Office Equipments
  • Computers
  • Furniture and Fixture
  • Air Conditioner
  • Vehicles
  • Capital Work in Progress

 

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.66.09

UK Pound

1

Rs.100.88

Euro

1

Rs.73.96

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

SNT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

1

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

1

--PROFITABILITY

1~10

1

--LIQUIDITY

1~10

1

--LEVERAGE

1~10

1

--RESERVES

1~10

1

--CREDIT LINES

1~10

--

--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

 

12

 

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.