MIRA INFORM REPORT

 

 

Report No. :

342999

Report Date :

30.09.2015

 

IDENTIFICATION DETAILS

 

Name :

EMERSON PROCESS MANAGEMENT INDIA PRIVATE LIMITED (w.e.f.06.08.2002)

 

 

Formerly Known As :

ROSEMOUNT (INDIA) LIMITED

 

 

Registered Office :

“Delphi” B Wing, 601 and 602, 6th Floor, Central Avenue, Hiranandani Business Park, Powai, Mumbai – 400076, Maharashtra

Tel. No.:

91-22-66620555/66620566

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

25.03.1981

 

 

Com. Reg. No.:

11-024115

 

 

Capital Investment / Paid-up Capital :

Rs. 105.614 Million

 

 

CIN No.:

[Company Identification No.]

U29196MH1981PTC024115

 

 

IEC No.:

0888009364

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACF1667M

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Importer of Control Instrumentation and Control Systems.

 

 

No. of Employees :

650 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A (63)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated in the year 1981 having good track record.

 

Available financial indicates company strong financial risk profile marked by healthy net worth position with zero borrowings and good profitability of the company.

 

Further, the rating also takes into consideration rich experience of its promoters, long established track record and strong operating efficiency of the company.

 

Trade relations are reported as fair. Business is active. Payment terms are reported as regular as per commitment.

 

The company can be considered normal for 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.

 

 

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

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2015.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Kiran Gadre

Designation :

Senior Manager Finance

Contact No.:

91-22-66620435

Date :

29.09.2015

 

 

 

LOCATIONS

 

Registered Office :

“Delphi” B Wing, 601 and 602, 6th Floor, Central Avenue, Hiranandani Business Park, Powai, Mumbai – 400076, Maharashtra, India

Tel. No.:

91-22-66620555/66620566

Fax No.:

91-22-66620500

E-Mail :

kiran.gadre@emerson.com

Website :

http://www.emersonprocess.com

Location :

Owned

Locality :

Commercial

 

 

Factory 1:

Plot No. A145/4, TTC Industrial Area, Pawane, MIDC, Navi Mumbai - 400705, Maharashtra, India

Tel. No.:

91-22-66736000

 

 

Factory 2:

No.147, Rajiv Gandhi Salai, OMR, Karapakkam Village, Chennai – 600097, TamilNadu

Tel. No.:

91-44-49034300

 

 

Branch Office :

5 Floor, Plot # 23, Rajiv Gandhi Infotech Park Phase II, Hinjewade, Pune - 411057, Maharashtra, India

 

 

Other Offices :

NORTH REGION

 

Head Office

·         Gurgaon

 

Branch Offices

·         Lucknow

·         Kota

·         Chandigarh

 

 

CENTRAL REGION

 

Head Office

·         Baroda

 

Branch Offices

·         Surat

·         Bhopal

·         Rajkot

 

 

WESTERN REGION

 

Head Office

·         Mumbai

·         Pune

 

Branch Offices

·         Nagpur

·         Raipur

 

 

EAST REGION

 

Head Office

·         Kolkata

 

Branch Office

·         Bhuvaneshwar

 

 

SOUTH REGION

 

Head Office

·         Chennai

 

Branch Offices

·         Hyderabad

·         Bangalore

·         Vizag

 

 

Engg. Centre :

Located at

 

·         Pune

·         Noida

·         Chennai

 

 

Overseas Offices :

Located at

 

·         Bangladesh

·         Sri Lanka

 

 

DIRECTORS

 

AS ON 26.09.2014

 

Name :

Mr. Amit Ashok Paithankar

Designation :

Managing Director

Address :

B-406, Lake Primrose, Phase-4, Lake Homes, Powai, Mumbai - 400076, Maharashtra,India

Date of Birth/Age :

01.04.1971

Qualification :

BE-Electrical Engineer,

VJTI- Mumbai ; Ph. D Technology -VJTI, Mumbai,

Masters Diploma in Business Administration (Finance) – Symbiosis, Pune

Date of Appointment :

28.09.2012

PAN No.:

ACVPP9629H

DIN No.:

02435057

 

 

Name :

Mr. Laxmikant Iyengar

Designation :

Additional Director

Address :

Desikachari Iyengar Rosa Villa, 247/A FR Peter Pereira Road, Kurla (West), Mumbai – 400070, Maharashtra, India

Date of Birth/Age :

09.11.1969

Date of Appointment :

30.09.2013

DIN No. :

05309137

 

 

Name :

Mr. Pradipta Tirthapati sen

Designation :

Director

Address :

304, Tower-2, Plams, South City 1, Gurgaon – 122001, Haryana, India

Date of Birth/Age :

07.10.1958

Date of Appointment :

30.12.2003

DIN No.:

00051758

 

 

KEY EXECUTIVES

 

Name :

Mr. Sharad Amrut Rane

Designation :

Secretary

Address :

B-11, Vinay Apartments, Chougle Nagar, Near Nancy Colony, Borivli (East), Mumbai – 400066, Maharashtra, India

Date of Birth/Age :

15.03.1959

Date of Appointment :

25.06.2004

PAN No.:

AAAPR5500L

 

 

Name :

Mr. Kiran Gadre

Designation :

Senior Manager Finance

 

 

MAJOR SHAREHOLDERS

 

AS ON 26.09.2014

 

Names of Shareholders

No. of Shares

Percentage of Holding

Rosemount INC., USA

66600

6.55

Emerson Electric Company (India) Private Limited, India

23400

2.30

Rutherfurd Acquisitions Limited, United Kingdom

927120

91.15

 

 

 

 

 

AS ON 26.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others

97.78

Bodies Corporate

2.22

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Importer of Control Instrumentation and Control Systems.

 

 

Products :

Not Divulged

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

 

Products :

Raw Material

Countries :
  • USA
  • China
  • Singapore

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

GENERAL INFORMATION

 

Suppliers :

Not Divulged

Reference :

Bombay Fluid System Components Private Limited

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

End Users

Reference :

Oil and Natural Gas Corporation Limited

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

650 (Approximately)

 

 

Bankers :

Banker Name

Citi Bank

Branch Address

Fort, Mumbai, 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

 

 

Facilities :

(Rs. In Million)

SECURED LOANS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG TERM BORROWINGS

 

 

Long term maturity of finance lease obligation

0.000

0.033

Total

0.000

0.033

 

Auditors :

 

Name :

BBSR and Company

Chartered Accountants

Address :

Lodha Excelus, 5th Floor, Apollo Mills Compound, N M Joshi Marg, Mahalaxmi, Mumbai – 400013, Maharashtra, India

PAN No.:

AAAFB9852F

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Holding Company :

·         Rosemount Inc, United States

·         Emerson Electric Company (India) Private Limited, India

CIN No.: U29190MH1995PTC087858

 

 

Associates :

·         Jasubhai Engineering Private Limited

CIN No.: U27109GJ1979PTC003277

 

·         Jasubhai Business Services Private Limited

CIN No.: U45200MH1995PTC086859

 

·         Jasubhai Media Private Limited

CIN No.: U72200MH2000PTC123541

 

·         Maulik Business Services Private Limited

CIN No.: U67120MH1985PTC037968

 

 

Fellow Subsidiary Company :

·         Emerson Process Management Asia Pacific (Singapore) Pte Limited

·         Micro Motion Inc

·         Daniel Measurement Solutions Private Limited

CIN No.: U40200GJ2007PTC049905

·         Emerson Process Management Flow Technologies Co. Limited

·         Emerson Process Management LLP

·         Emerson Process Management Chennai Limited

·         CIN No.: U93090TN1985PLC024245

·         Roxar Maximum Reservoir Performance LLC

·         Emerson Process Management Power And Water Solutions India Private Limited

CIN No.: U40109DL1997FTC085582

·         EGS Electrical Group LLC

·         Emerson Network Power (India) Private Limited

CIN No.: U74999MH1993PTC071079

·         Rosemount Analytical Inc OHIO

·         Roxar Flow Measurement SDN BHD

·         Emerson Process Management China Limited

·         Emerson FZE – Dubai

·         Emerson Process Management

·         Emerson Beijing Instrument Co Limited

·         Emerson Network Power (Pune) Private Limited

·         Beijing Rosemount Far East Instrument Co.

·         Instrument and Valve Services Company

·         Roxar Services AS

·         Emerson Industrial Automation now known as Asco Numatics India Private Limited

·         Emerson Process Management Australia PTY Limited

·         Emerson Process Management GmBH and Company  OHG

·         Rosemount Tank Gauging India Private Limited

CIN No.: U33130PN1999PTC134690

·         Control Techniques India Private Limited

CIN No.: U30006TN1993PTC025830

·         Daniel Measurement and Control

·         Emerson Process Management GMBH and Company

·         Emerson Process Management Pittsburgh

·         Emerson Process Management Rosemount Tank Radar AB

·         Fisher Sanmar Limited

·         Mobrey Limited

·         P I Components Inc

·         Rosemount Analytical Inc -Irvine

·         Roxar Flow Measurement AS

·         Emerson MMC

·         Emerson Process Management Shanghai Company Limited

·         Emerson Process Management Korea Limited

·         Emerson Process Management SAS

·         Emerson Climate Technologies (India) Limited

CIN No.: U29192PN1993PLC071223

·         Emerson Process Management St. Louis

·         Metco Services Limited’

·         Emerson Electric Company St Louis

·         Emerson Process Management Shared Services

·         Emerson Process Management Austin

·         Emerson Process Management AG (Swaziland)

·         Elomatic Valve Actuators F.E. Pte Limited

·         Emerson Process Management Karlstein

·         Emerson Process Management A/S

·         Emerson Process Management Japan Limited

·         Computation System Inc

·         Emerson Process Management Remote Automation Solutions

·         Remote Automation Solutions

·         Emerson Process Management PC&E Inc St. Louis

·         Net Safety Monitoring INC

·         Emerson Process Management SRL

 

 

CAPITAL STRUCTURE

 

AS ON 26.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

1200000

Equity Shares

Rs. 100/- each

Rs. 120.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

1056140

Equity Shares

Rs. 100/- each

Rs. 105.614 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

105.614

9.000

9.000

(b) Reserves & Surplus

23473.064

1217.469

1087.339

(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)

23578.678

1226.469

1096.339

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.033

0.411

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

58.739

53.469

36.657

(d) long-term provisions

41.633

45.552

37.346

Total Non-current Liabilities (3)

100.372

99.054

74.414

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

200.000

200.000

(b) Trade payables

1259.073

2193.181

1493.259

(c) Other current liabilities

804.072

595.618

432.470

(d) Short-term provisions

133.445

105.586

93.543

Total Current Liabilities (4)

2196.590

3094.385

2219.272

 

 

 

 

TOTAL

25875.640

4419.908

3390.025

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

317.935

371.397

362.054

(ii) Intangible Assets

22.172

28.507

0.000

(iii) Capital work-in-progress

29.314

11.487

3.580

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

19373.057

0.000

0.000

(c) Deferred tax assets (net)

245.886

143.948

104.658

(d)  Long-term Loan and Advances

163.993

153.272

118.443

(e) Other Non-current assets

77.276

41.325

30.747

Total Non-Current Assets

20229.633

749.936

619.482

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

814.309

714.815

680.496

(c) Trade receivables

1913.448

1993.674

1446.744

(d) Cash and cash equivalents

185.856

117.138

81.679

(e) Short-term loans and advances

2438.049

444.472

317.192

(f) Other current assets

294.345

399.873

244.432

Total Current Assets

5646.007

3669.972

2770.543

 

 

 

 

TOTAL

25875.640

4419.908

3390.025

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

6851.294

6704.988

5389.795

 

 

Other Income

NA

NA

NA

 

 

TOTAL                                     (A)

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                     (B)

NA

NA

NA

 

 

 

 

 

 

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

353.323

334.894

182.448

 

 

 

 

 

Less

INTEREST                                                        (D)

47.456

42.639

5.855

 

 

 

 

 

 

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

305.867

292.255

176.593

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

86.354

77.619

68.764

 

 

 

 

 

 

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

219.513

214.636

107.829

 

 

 

 

 

Less

TAX                                                                  (H)

69.670

84.506

44.750

 

 

 

 

 

 

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

149.843

130.130

63.079

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

851.862

721.732

709.810

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Transfer to General Reserve

0.000

0.000

6.308

 

 

Transfer from Capital Reserve

(1.597)

0.000

0.000

 

 

Dividend

0.000

0.000

38.461

 

 

Tax on Dividend

0.000

0.000

6.388

 

BALANCE CARRIED TO THE B/S

1003.302

851.862

721.732

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

663.945

267.774

306.472

 

TOTAL EARNINGS

663.945

267.774

306.472

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

141.88

123.21

59.73

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

7400.000

 

 

 

 

 

Expected Sales (2015-16): Rs. 7600.000 Million

 

The above information has been parted by Mr. Kiran Gadre (Senior Manager Finance)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

 

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flow from (used in) operation

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

 

Net Profit Margin

PAT / Sales

(%)
2.19

1.94

1.17

 

 
 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)
5.16

4.99

3.39

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

3.52

5.03

3.29

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.01

0.18

0.10

 

 

 

 

 

Debt Equity Ratio

(Total Debts/Networth)

 

0.00

0.16

0.18

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

2.57

1.19

1.25

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Share Capital

9.000

9.000

105.614

Reserves & Surplus

1087.339

1217.469

23473.064

Net worth

1096.339

1226.469

23578.678

 

 

 

 

long-term borrowings

0.411

0.033

0.000

Short term borrowings

200.000

200.000

0.000

Total borrowings

200.411

200.033

0.000

Debt/Equity ratio

0.183

0.163

0.000

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Sales

5389.795

6704.988

6851.294

 

 

24.402

2.182

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Sales

5389.795

6704.988

6851.294

Profit

63.079

130.130

149.843

 

1.17%

1.94%

2.19%

 

 

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

Yes

17

Details of sister concerns

Yes

18

Major suppliers

Yes

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

Yes

26

Turnover of firm for last four years

Yes

27

Reasons for variation <> 20%

-----

28

Estimation for coming financial year

Yes

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

-----

33

Market information

-----

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

90242527

31/05/2004

522,000.00

FORD CREDIT KOTAK MAHINDRA LTD

36-38 ANARIMAN BHAVAN 227 NARIMAN POINT, MUMBAI, Maharashtra - 400021,

INDIA

-

2

90163642

20/04/1998 *

62,500,000.00

CORPORATION BANK

INDUSTRIAL FINANCE BRANCH, BHARAT HOUSE 104 S B M 
ARG, MUMBAI, Maharashtra - 400001, INDIA

-

3

90160910

09/01/1997

14,700.00

CORPORATION BANK

VEENA CHABERS DALAL STREET FORT, BOMBAY,

Maharashtra - 400023,

 INDIA

-

4

90166367

20/04/1998 *

442,700,000.00

STATE BANK OF INDIA

VATWA INDUSTRIAL ESTATE, AHMEDABAD, Gujarat - 382445, INDIA

-

5

90160863

07/03/1995

32,500,000.00

CORPORAITON BANK

INDUSTRIAL FINANCE BRANCH, 104 BHARAT HOUSE, BOMBAY, Maharashtra - 400001,

 INDIA

-

6

90165115

07/05/1995 *

32,500,000.00

CORPORATION BANK

INDUSTRIAL FINANCE BRANCH, BHARAT HOUSE GROUND FL 
OOR NO 104 B S MARG, BOMBAY, Maharashtra - 400001, 
INDIA

-

7

90166259

16/08/1994 *

205,200,000.00

STATE BANK OF INDIA

P B NO 10, VATAWA INDUSTRIAL ESTATE, AHMEDABAD,

Gujarat - 382445,

INDIA

-

8

90166243

27/10/1993

205,200,000.00

STATE BANK OF INDIA

P B NO 10 VATWA INDUSTRIAL ESTATE, AHMEDABAD,

Gujarat - 382445,

 INDIA

-

9

90160797

09/01/1992

3,750.00

CORPORATION BANK

VEENA CHABERS DALAL STREET FORT, BOMBAY,

Maharashtra - 400023,

 INDIA

-

10

90166113

06/09/1993 *

141,500,000.00

STATE BANK OF INDIA

P B NO 10 VATWA INDUSTRIAL ESTATE, AHMEDABAD, Gujarat - 382445, INDIA

-

 

* Date of charge modification

 

UNSECURED LOANS

 

PARTICULAR

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

SHORT TERM BORROWINGS

 

 

Loans and advances from related parties

0.000

200.000

Total

0.000

200.000

 

 

 

FIXED ASSETS

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

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

 

1]         INFORMATION ON DESIGNATED PARTY

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

 

2]         Court Declaration :

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

 

3]         Asset Declaration :

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

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

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

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

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

 

8]         Affiliation with Government :

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

 

9]         Compensation Package :

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

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

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

 

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

 

 

CONTRAVENTION

 

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

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

Indian Rupees

US Dollar

1

Rs. 66.18

UK Pound

1

Rs. 100.46

Euro

1

Rs. 74.61

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

JYO

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

8

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

7

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

7

--PROFITABILITY

1~10

7

--LIQUIDITY

1~10

7

--LEVERAGE

1~10

7

--RESERVES

1~10

7

--CREDIT LINES

1~10

7

--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

YES

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

63

 

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.