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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

503512

Report Date :

13.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

J. KUMAR INFRAPROJECTS LIMITED (w.e.f 26.02.2008)

 

 

Formerly Known As :

J. KUMAR INFRAPROJECTS PRIVATE LIMITED (w.e.f 08.01.2007)

 

J. KUMAR AND COMPANY (INDIA) PRIVATE LIMITED

 

 

Registered Office :

16/A, Andheri Industrial Estate, Veera Desai Road, Andheri (West), Mumbai – 400 053, Maharashtra

Tel. No.:

91-22-67743555 / 2673 0291 / 0848

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

02.12.1999

 

 

Com. Reg. No.:

11-122886

 

 

Capital Investment / Paid-up Capital :

INR 378.328 Million

 

 

CIN No.:

[Company Identification No.]

L74210MH1999PLC122886

 

 

IEC No.:

[Import-Export Code No.]

0305032488

 

 

PAN No.:

[Permanent Account No.]

AAACJ9161C

 

 

GSTN :

[Goods & Service Tax Registration No.]

27AAACJ9161C1ZP

 

 

TIN No.:

07760407551

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

The Company is engaged in the business of execution of contracts of various infrastructure projects including Transportation Engineering, Irrigation Projects, Civil Construction and Piling Work etc. (Registered Activity)

 

 

No. of Employees :

3429 (Approximately)

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

B

 

Credit Rating

Explanation

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

Maximum Credit Limit :

USD 39680000

INR 2778000000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

J Kumar Infraprojects Limited (JKIL) was incorporated in the year 1999 and it is engaged in execution of contracts of various infrastructure projects including transportation Engineering, Irrigation Projects, Civil Construction and Piling Work etc.

 

Municipal Corporation of Greater Mumbai (MCGM) has deregistered and hence, barred JKIL along with directors from competing, contracting and carrying out work for its departments for seven years effective 24th March 2017. In FY 2017, Bombay High Court cancelled two projects awarded by MCGM to JKIL.

 

Brihanmumbai Municipal Corporation has blacklisted JKIL for 3,500 million road scam and bagged 50,000 million in Metro deal.

 

Rating takes into account the company’s presence in highly fragmented construction industry.

 

However, the company possesses healthy financial risk profile marked by adequate net worth base and strong order book.

 

Further, as per 3rd quarter results of December 2017, the company has achieved revenue of INR 4571.6 million and has clocked profit margin of approximately 7.15%.

 

Further, SEBI has lift the trading restrictions on the company but under heightened surveillance.

 

Payments are seems to be slow.

 

In view of aforesaid, the company can be considered for business dealings 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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

INDIA RATINGS

Rating

Long Term Rating=A+

Rating Explanation

Adequate degree of safety and low credit risk.

Date

11.05.2017

 

Rating Agency Name

INDIA RATINGS

Rating

Short Term Rating=A1

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

11.05.2017

 

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 31-03-2018.

 

BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS

 

Subject’s name is not listed as a Sick Unit in the publicly available BIFR (Board for Industrial & Financial Reconstruction) list as of 13.04.2018

 

IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS

 

Subject’s name is not listed in the publicly available IBBI (Insolvency and Bankruptcy Board of India) list as of report date.

 

INFORMATION DENIED BY

 

Name :

Mr. Manoj Verma

Designation :

Marketing Department

Contact No.:

91-9167778174

Date :

12.04.2018

 

Management non-cooperative (Tel No.:91-22-67743555)

 

LOCATIONS

 

Registered Office :

16-A, Andheri Industrial Estate 22, Veena Desai Road, Andheri (West), Mumbai -400053, Maharashtra, India

Tel. No.:

91-22-67743555 / 2673 0291 / 0848

Fax No.:

91-22-26730814

E-Mail :

info@jkumar.com

jknc@vsnl.net

Website :

www.jkumar.com

http://career.jkumar.com

Location :

Owned

Locality :

Commercial

 

 

DIRECTORS

 

As on 31.03.2017

 

Name :

Mr. Nalin Jagdish Gupta

Designation :

Managing Director

Address :

701, Ritu Apartment, Swastik Co-Operative Society, 3rd Road, JVPD Schem, Vile Parle (West), Mumbai-400056, Maharashtra, India

Date of Appointment :

02.12.1999

DIN No.:

00627832

 

Name :

Mr. Kamal Jagdish Gupta

Designation :

Managing Director

Address :

701,Ritu Apartment, Swastik Co- Operative Society, 3rd Road, JVPD Scheme, Vile Parle (West), Mumbai-400056, Maharashtra, India

Date of Appointment :

02.12.1999

DIN No.:

00628053

 

Name :

Mr. Jagdishkumar Madanlal Gupta

Designation :

Whole Time Director

Address :

Flat No. 701, Ritu Apartment, Road No.3, Jvpd Scheme, Vile Parle(West), Mumbai-400056, Maharashtra, India

Date of Appointment :

02.12.1999

DIN No.:

01112887

 

 

Name :

Mrs. Kusum J. Gupta

Designation :

Director

 

Ritu Apartment, 7th Floor, Flat No. 701, Jvpd Shceme, Vile Parle, Mumbai- 400056, Maharashtra, India

Date of Appointment :

20.05.2014

DIN No.:

03138909

 

 

Name :

Mr. Padmanabh Pundrikray Vora

Designation :

Director

Address :

Flat No. 503-504, 5th Floor, "A" Wing, Mount Everest Tower, Bhakti Park, Wadala, Mumbai-400037, Maharashtra, India

 

16.07.2007

DIN No.:

00003192

 

 

Name :

Dr. Raghavachari Srinivasan

Designation :

Director

Address :

C-6-1, Lloyds Garden, Appa Saheb Marathe Marg, Prabhadevi, Mumbai -400025, Maharashtra, India

Date of Appointment :

16.07.2007

DIN No.:

00003968

 

 

Name :

Padam Prakash Jain

Designation :

Director

Address :

1102, Julian Alps, Building No. 15, A Wing Bhakti Park, Wadala (East), Mumbai 400037, Maharashtra, India

Date of Appointment :

14.11.2017

DIN No.:

00971581

 

 

Name :

Mr. Ajit Singh Chatha

Designation :

Director

Address :

House No 333 Sector 9-D, Chandigarh-160009, India

Date of Appointment :

13.02.2014

DIN No.:

02289613

 

 

Name :

Mr. Ashwani Kumar

Designation :

Independent Director

 

 

KEY EXECUTIVES

 

Name :

Mr. Arvind Gupta

Designation :

Chief Finance Office

Address :

Station Road, Bhyander (West), Mumbai -401105, Maharashtra, India

Date of Appointment :

20.05.2014

PAN No.:

AFBPG5751L

 

 

Name :

Ms. Poornima Reddy

Designation :

Company Secretary

Address :

E-402, Godhavari, Shivadarshan CHS, Sector 16, Sanpada, Navi Mumbai 400705, Maharashtra, India

Date of Appointment :

16.07.2007

PAN No.:

Adypv1227f

 

 

Audit committee:
  • Dr. R. Srinivasan
  • Mr. Jagdishkumar M. Gupta
  • Mr. P.P.Vora
  • Mr. Ajit Singh Chatha

 

 

Stake holders relationship committee:
  • Mr. Ashwani Kumar
  • Mr. Kamal J. Gupta
  • Mr. Nalin J. Gupta

 

 

Nomination and remuneration committee:
  • Dr. R. SrinivasanMr. P. P. Vora
  • Mr. Ashwani Kumar
  • Mr. Ajith Singh Chatha

 

 

MAJOR SHAREHOLDERS

 

As on March, 2018

 

Category of shareholder

Total nos. shares held

Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)As a %

(A) Promoter & Promoter Group

33245554

43.94

(B) Public

42419952

56.06

Grand Total

75665506

100.00

 

Statement showing shareholding pattern of the Promoter and Promoter Group

 

Category of shareholder

Total nos. shares held

Shareholding as a % of total no. of shares (calculated as per SCRR, 1957)As a %

A1) Indian

 

Individuals/Hindu undivided Family

23656910

31.27

SHALINI NALIN GUPTA

2101820

2.78

JAGDISHKUMAR MADANLAL GUPTA

10883050

14.38

KAMAL JAGDISH GUPTA

2925000

3.87

NALIN JAGDISH GUPTA

2904000

3.84

KUSUM JAGDISH GUPTA

2854020

3.77

SONAL KAMAL GUPTA

1989020

2.63

Any Other (specify)

9588644

12.67

J KUMAR SOFTWARE SYSTEM (I) PRIVATE LIMITED

6591954

8.71

J KUMAR MINERALS AND MINES INDIA PRIVATE LIMITED

2996690

3.96

Sub Total A1

33245554

43.94

A2) Foreign

0.00

A=A1+A2

33245554

43.94

 

Statement showing shareholding pattern of the Public shareholder

 

Category & Name of the Shareholders

Total no. shares held

Shareholding % calculated as per SCRR, 1957 As a %

B1) Institutions

 

Mutual Funds/

8201993

10.84

ADITYA BIRLA SUN LIFE TRUSTEE PRIVATE LIMITED A/C ADITYA BIRLA SUN LIFE INFRASTRUCTURE FUND

1318825

1.74

HDFC TRUSTEE COMPANY LIMITED A/C HDFC BALANCED FUND

4129973

5.46

RELIANCE CAPITAL TRUSTEE CO. LIMITED -A/C RELIANCESMALLCAP FUND

995248

1.32

UTI- INFRASTRUCTURE FUND

761347

1.01

Alternate Investment Funds

611994

0.81

Foreign Portfolio Investors

17889573

23.64

AMERICAN FUNDS INSURANCE SERIES GLOBAL SMALL CAPITALIZATION FUND

2901000

3.83

THE WELLINGTON TRUST COMPANY, NATIONAL ASSOCIATIONMULTIPLE COLLECTIVE INVESTMENT FUNDS TRUST, OPPORTUNISTIC EQUITY PORTFOLIO

1453893

1.92

SMALLCAP WORLD FUND, INC

4450500

5.88

LETKO BROSSEAU EMERGING MARKETS EQUITY FUND

1124988

1.49

BLACKROCK GLOBAL FUNDS ASIAN DRAGON FUND

1483409

1.96

GOLDMAN SACHS INDIA LIMITED

2699824

3.57

Financial Institutions/ Banks

81985

0.11

Any Other (specify)

8957

0.01

Sub Total B1

26794502

35.41

B2) Central Government/ State Government(s)/ President of India

0.00

B3) Non-Institutions

0.00

Individual share capital upto INR 0.200 million

8733014

11.54

Individual share capital in excess of INR 0.200 million

3176324

4.20

MUKUL AGRAWAL

1099250

1.45

NBFCs registered with RBI

94528

0.12

Any Other (specify)

3621584

4.79

Trusts

12080

0.02

Non-Resident Indian (NRI)

839445

1.11

Clearing Members

41884

0.06

Others

320198

0.42

Bodies Corporate

2405697

3.18

IL AND FS SECURITIES SERVICES LIMITED

815828

1.08

IEPF

2280

0.00

Sub Total B3

15625450

20.65

B=B1+B2+B3

42419952

56.06

 

BUSINESS DETAILS

 

Line of Business :

The Company is engaged in the business of execution of contracts of various infrastructure projects including Transportation Engineering, Irrigation Projects, Civil Construction and Piling Work etc. (Registered Activity)

 

 

Products / Services :

NIC Code No.

Products/Services Description

45203

Construction

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Not Divulged 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

GENERAL INFORMATION

 

Suppliers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

3429 (Approximately)

 

 

Bankers :
  • HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India
  • Axis Bank Limited, "Trishul', 3rd Floor, Opposite to Samartheshwar Temple Law Garden, Ellis Bridge, Ahmedabad-380006, Gujarat, India 
  • Oriental Bank of Commerce, 14th Floor, Maker Tower, F Wing, Cuff Parade, Mumbai-400005 , Maharashtra, India
  • Bank of India
  • Bank of Baroda
  • Allahabad Bank
  • RBL Bank
  • Yes Bank
  • Punjab National Bank
  • Standard Chartered Bank
  • Union Bank of India,
  • Bank of Maharashtra
  • Vijaya Bank
  • Federal Bank
  • Dena Bank
  • IDBI Bank
  • United Bank of India
  • EXIM Bank
  • IndusInd Bank
  • Syndicate Bank

 

 

Facilities :

Secured Loan

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

External Commercial Borrowings (ECB) from banks

3.880

87.732

Buyers Credit

0.000

153.923

Others Borrowings

329.595

45.196

 

 

 

Short-term borrowings

 

 

Working capital loans from consortium of banks

3326.283

2505.268

Overdraft facility

512.095

432.696

Overdraft facility against earnest money deposit

0.000

0.000

Current maturity of long term secured term loan

195.038

312.573

Total

4366.891

3537.388

NOTES:

 

Long-term Borrowings

 

(a) Secured term loans from banks:

External Commercial Borrowing (ECB loan) of USD 10 Million from Standard Chartered bank bearing interest rate ranging from 8.48% p.a. to 11.95% p.a. on fully hedged. The loans are repayable in 4 years in quarterly instalments from the respective dates of disbursement of loans after considering moratorium period. The above loans are secured by hypothecation of plant & machinery and personal guarantee of Mr. Jagdishkumar M. Gupta and Mr. Nalin J. Gupta. During the nancial year 2016 - 17 the said loan has been repaid fully.

 

External Commercial Borrowing (ECB loan) of USD 7.90 Million from Standard Chartered bank bearing interest rate ranging from 12.60% p.a. to 12.70% p.a. on fully hedged. The loans are repayable in 5 years in quarterly instalments from the respective dates of disbursement of loans after considering moratorium period. The above loans are secured by hypothecation of plant and machinery and personal guarantee of Mr.  Jagdishkumar M. Gupta and Mr. Nalin J. Gupta.

 

Buyers Credit of USD 26.13 Million from Union Bank of India, Vijaya Bank, Standard Chartered Bank, Bank of Maharashtra and Dena Bank bearing interest rate ranging from 2.00% p.a. to 3.35% p.a. unhedged . The loans are repayable in 3 Years in Quarterly installment from the respective dates of disbursement of loans after considering moratorium period. The above loans are secured by hypothecation of plant & machinery and personal guarantee of Mr. Jagdishkumar M. Gupta and Mr. Nalin J. Gupta. The said loan repaid fully during the Financial year 2016 - 17.

 

 

Other term Loans includes loan from

HDFC bank bearing interest rate ranging from 8.25% p.a. to 9.36% p.a. The loans are repayable in 36 months to 48 months in equal monthly instalments from the respective dates of disbursement of loans after considering moratorium period. The above loans are secured by hypothecation of assets (i.e. Equipment, Vehicles and plant & machinery) and personal guarantee of Mr. Jagdishkumar M. Gupta.

 

ICICI bank bearing interest rate ranging from 8.45% p.a. to 10.99% p.a. The loans are repayable in 29 months to 48 months in equal monthly instalments from the respective dates of disbursement of loans. The above loans are secured by hypothecation of assets (i.e. Equipment, vehicles and plant & machinery)

 

Allahabad bank bearing interest rate ranging from 8.65% p.a. to 8.85% p.a. The loans are repayable in 48 months to 60 months in equal monthly instalments from the respective dates of disbursement of loans. The above loans are secured by hypothecation of Vehicle.

 

SREI Equipment Fimnance Limited bearing interest rate ranging from 8.25% p.a. to 9.00% p.a. The loans are repayable in 48 months to 60 months in equal monthly instalments from the respective dates of disbursement of loans. The above loans are secured by hypothecation of Assets (i.e. Equipment, Vehicles and plant & machinery).

 

Short-term borrowings

 

18.1 Working capital loan (Cash credit ) from banks under consortium limit is secured against hypothecation of stock and book debts, details of security and limits.The interest rate ranging from 10.00% p.a. to 11.75 % p.a.

 

18.2 Overdraft facility from banks secured against Fixed Deposit receipts and are personal guarantee of promoter Directors. The interest rate ranging from 7.00% p.a. to 9.05% p.a.

 

18.3 Overdraft facility against Earnest Money Deposit (EMD) within non fund based facilities limit and details of security.The interest rate is 11.70% p.a. and repayable within 6 months from the date of disbursement. The said facility not availed during the year, outstanding as on 31/03/2017 is Nil.

 

Auditors :

 

Name 1:

Gupta Saharia and Company

Chartered Accountants

Address :

4, Altanta, Evershine Nagar, Malad (West), Mumbai-400064, Maharashtra, India

 

 

Name 2:

Todi Tulsyian and Company

Chartered Accountants

Address :

201/202, B-Wing Extension, 2nd floor, Rolex Shopping Centre, Station Road, Goregaon (West), Mumbai – 400104, Maharashtra, India

Tel. No.:

91-22-67556030 /28737979

Mobile No.:

91-9323344556

E-Mail :

ttcomumbai@gmail.com

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Proprietary Concern:
  • J. Kumar and Company (Proprietor Mr. Jagdishkumar M. Gupta)
  • Goldline Advertiser (Proprietor Mr. Jagdishkumar M. Gupta)
  • Goldline Business Center (Proprietor Mr. Jagdishkumar M. Gupta)
  • Goldline Sound Studio (Proprietor Mrs. Kusum J. Gupta)

 

 

Joint Venture:
  • J. Kumar Infraprojects Limited and Chirag Construction Co. (J.V.)
  • J. Kumar – Chirag –Babulal (Consortium)
  • J. Kumar – Chirag –Navdeep (Consortium)
  • J. Kumar – Chirag – JEKIN (Consortium)
  • J. Kumar – Chirag - API (Consortium)
  • NCC - J Kumar JV
  • Shiva Engineering Construction & J. Kumar J.V.
  • J Kumar - RPS Joint Venture
  • J Kumar - Mukesh Brothers (J.V)
  • J Kumar - RK- Indra Consortium
  • J Kumar - PBA J V
  • J Kumar - CRTG J.V.
  • J Kumar - KR J.V.
  • J. Kumar - Supreme JV
  • Supreme - J Kumar JV
  • J Kumar - J.M. Mhatre J V
  • NCC - J. Kumar - SMC JV
  • J. Kumar - Speco J.V.

 

 

 

Group Companies
  • J. Kumar Software Systems (India) Private Limited
  • J. Kumar Minerals and Mines (India) Private Limited
  • J. Kumar Developers Limited

 

 

CAPITAL STRUCTURE

 

As on 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

80000000

Equity Shares

INR 5/- each

INR 400.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

75665506

Equity Shares

( P. Y. INR 10/- each) Fully paid up

INR 5/- each

INR 378.328 Million

 

 

 

 

 

Reconciliation of the number of the shares outstanding at the beginning and at the end of the year:

 

Issued, Subscribed and Paid up share capital

As at March 31, 2017

 

No. of Shares

INR in million

Balance at the beginning of the year

75665506

378.328

Add : Shares issued during the year

-

-

Less: shares bought back

-

-

Balance at the end of the year

75665506

378.328

 

(b) The company has only one class of shares referred to as Equity Shares having a face value of INR 5/- each (P.Y. INR 5/-). During the nancial year 2015 - 16 the Board of Directors at their Meeting held on June 28, 2015 had approved the sub-division of each Equity Share of face value of INR 10/- of the Company into 2 (Two) Equity Shares of face value of INR 5/- further the Members of the Company have approved the said sub-division at the 16th Annual General Meeting on September 15, 2015. The record date for the spilt of share was December 11, 2015, resulting to increase in number of Equity shares from 37832753 of INR 10/- each to Equity Shares 75665506 of INR 5/- each . Each Equity share is entitled to one vote per share held.

(c) The company has not issued any bonus shares during the last ve years immediately preceding the balance sheet date.

 

(d) In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

(e) During the nancial year 2015-16, the Company had issued and allotted 5606548 Equity shares having a face value of INR 10/- each at an issue price of INR 730/- per equity share (including a premium of INR 720/- per share) aggregating to INR 4092.700 million to the Qualied Institutional Investors rank Pari Passu with existing Equity Shares including rights in respect of dividends.

 

(f) Details of shareholders holding more than 5 % shares in the Company:

 

Particulars

As at

March 31, 2017

 

No. of shares

Jagdishkumar M. Gupta

10783050

J. Kumar Software Systems (I) Private Limited

6591954

Smallcap World Fund, Inc.

4092000

 

FINANCIAL DATA

[all figures are INR Million]

 

ABRIDGED BALANCE SHEET (STANDALONE)

 

SOURCES OF FUNDS

 

31.03.2017

31.03.2016

31.03.2015

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

378.328

378.328

322.262

(b) Reserves & Surplus

13511.661

12539.136

7568.611

(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)

13889.989

12917.464

7890.873

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

333.475

286.851

533.412

(b) Deferred tax liabilities (Net)

184.473

259.779

131.097

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

2.577

8.284

13.952

Total Non-current Liabilities (3)

520.525

554.914

678.461

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

4033.416

3250.537

3802.736

(b) Trade payables

1194.760

1140.292

1354.911

(c) Other current liabilities

6842.052

1773.125

3008.863

(d) Short-term provisions

0.000

0.000

186.440

Total Current Liabilities (4)

12070.228

6163.954

8352.950

 

 

 

 

TOTAL

26480.742

19636.332

16922.284

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

5113.429

4298.818

4300.656

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

712.309

675.272

632.630

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

3.126

1789.372

11.291

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

2009.983

1842.482

1855.790

Total Non-Current Assets

7838.847

8605.944

6800.367

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

5618.602

4860.964

5430.849

(c) Trade receivables

5233.289

2955.691

2008.424

(d) Cash and cash equivalents

4984.371

1736.025

1548.286

(e) Short-term loans and advances

1992.691

1040.301

796.660

(f) Other current assets

812.942

437.407

337.698

Total Current Assets

18641.895

11030.388

10121.917

 

 

 

 

TOTAL

26480.742

19636.332

16922.284

 

 

PROFIT & LOSS ACCOUNT (STANDALONE)

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

14374.952

14086.285

13431.856

 

Other Income

287.214

174.682

130.482

 

TOTAL

14662.166

14260.967

13562.338

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

9717.216

8306.578

7608.826

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(934.331)

552.912

384.470

 

Employees benefits expense

1029.361

784.338

740.625

 

Other expenses

2086.415

1959.663

2192.361

 

TOTAL

11898.661

11603.491

10926.282

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

2763.505

2657.476

2636.056

 

 

 

 

 

Less

FINANCIAL EXPENSES

659.450

616.485

767.630

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

2104.055

2040.991

1868.426

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

556.291

512.097

473.523

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

1547.764

1528.894

1394.903

 

 

 

 

 

Less

TAX

492.690

543.885

451.041

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

1055.074

985.009

943.862

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

13.94

14.24

15.86

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

NA

NA

818.219

Cash generated from operations

3118.731

1075.922

972.771

Net cash flows from (used in) operations

NA

NA

NA

Net cash flows from (used in) operating activity

2609.933

641.188

585.593

 

 

QUARTERLY RESULTS

 

Particulars

 

30.06.2017

 (Unaudited)

30.09.2017

(Unaudited)

31.12.2017

 (Unaudited)

 

1st  Quarter

2nd Quarter

3rd Quarter

Net Sales

3742.290

3170.130

4571.700

Total Expenditure

3115.300

2555.810

3795.360

PBIDT (Excl OI)

626.990

614.320

776.340

Other Income

72.350

58.510

55.670

Operating Profit

699.340

672.830

832.010

Interest

150.600

170.730

169.850

Exceptional Items

NA

NA

NA

PBDT

548.74

502.1000

662.160

Depreciation

162.060

170.8300

176.030

Profit Before Tax

386.680

331.2700

486.130

Tax

128.510

100.8400

156.910

Provisions and contingencies

NA

NA

NA

Profit After Tax

258.170

230.4400

329.220

Extraordinary Items

NA

NA

NA

Prior Period Expenses

NA

NA

NA

Other Adjustments

NA

NA

NA

Net Profit

258.170

230.4400

329.220

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

132.88

76.59

54.58

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

2.75

4.77

6.69

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

44.88

50.11

65.00

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

0.49

0.55

0.49

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

0.47

0.53

0.53

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.47

0.33

0.57

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.31

0.27

0.65

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

0.87

0.48

1.06

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.42

0.39

0.63

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

4.19

4.31

3.43

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

7.34

6.99

7.03

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

3.98

5.02

5.58

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

7.60

7.63

11.96

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

1.54

1.79

1.21

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

1.08

1.00

0.56

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.52

0.66

0.47

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

11.54

9.35

15.99

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.54

1.79

1.21

 

Total Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term debts

 

STOCK PRICES

 

Face Value

INR 5/-

Market Value

INR 282.50

 

FINANCIAL ANALYSIS

[all figures are in INR Million]

 

 

DEBT EQUITY RATIO

 

Particular

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Share Capital

322.262

378.328

378.328

Reserves & Surplus

7568.611

12539.136

13511.661

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

7890.873

12917.464

13889.989

 

 

 

 

long-term borrowings

533.412

286.851

333.475

Short term borrowings

3802.736

3250.537

4033.416

Total borrowings

4336.148

3537.388

4366.891

Debt/Equity ratio

0.550

0.274

0.314

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Sales

13431.856

14086.285

14374.952

 

 

4.872

2.049

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2015

31.03.2016

31.03.2017

 

INR In Million

INR In Million

INR In Million

Sales

13431.856

14086.285

14374.952

Profit

943.862

985.009

1055.074

 

7.03%

6.99%

7.34%

 

 

ABRIDGED BALANCE SHEET (CONSOLIDATED)

 

SOURCES OF FUNDS

 

31.03.2017

31.03.2016

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

378.328

378.328

(b) Reserves & Surplus

 

13511.661

12539.136

(c) Non-controlling interest

 

0.454

0.438

 

 

 

 

(2) Share Application money pending allotment

 

0.000

0.000

Total Shareholders’ Funds (1) + (2)

 

13890.443

12917.902

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

333.475

286.851

(b) Deferred tax liabilities (Net)

 

184.473

259.779

(c) Other long term liabilities

 

0.000

0.000

(d) long-term provisions

 

2.577

8.284

Total Non-current Liabilities (3)

 

520.525

554.914

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

4033.416

3250.537

(b) Trade payables

 

1758.890

1455.913

(c) Other current liabilities

 

7485.738

1995.345

(d) Short-term provisions

 

0.000

0.000

Total Current Liabilities (4)

 

13278.044

6701.795

 

 

 

 

TOTAL

 

27689.012

20174.611

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

5113.429

4298.818

(ii) Intangible Assets

 

0.000

0.000

(iii) Capital work-in-progress

 

712.308

675.272

(iv) Intangible assets under development

 

0.000

0.000

(b) Non-current Investments

 

0.000

0.000

(c) Deferred tax assets (net)

 

0.000

0.000

(d)  Long-term Loan and Advances

 

0.000

0.000

(e) Other Non-current assets

 

2138.376

3754.170

Total Non-Current Assets

 

7964.113

8728.260

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

0.000

0.000

(b) Inventories

 

6436.443

5743.098

(c) Trade receivables

 

5071.112

2150.374

(d) Cash and cash equivalents

 

5161.799

1865.904

(e) Short-term loans and advances

 

1649.147

847.051

(f) Other current assets

 

1406.398

839.924

Total Current Assets

 

19724.899

11446.351

 

 

 

 

TOTAL

 

27689.012

20174.611

 

 

PROFIT & LOSS ACCOUNT (CONSOLIDATED)

 

 

PARTICULARS

 

31.03.2017

31.03.2016

 

SALES

 

 

 

 

Income

 

15728.066

15077.731

 

Other Income

 

301.798

182.744

 

TOTAL

 

16029.864

15260.475

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

10318.133

8434.750

 

Purchases of Stock-in-Trade

 

 

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

 

-934.331

552.912

 

Employees benefits expense

 

1251.815

1150.909

 

Other expenses

 

2598.920

2475.846

 

Share of profit /loss of joint venture

 

0.367

-29.604

 

TOTAL

 

13234.904

12584.813

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

 

2794.960

2675.662

 

 

 

 

 

Less

FINANCIAL EXPENSES

 

660.677

634.777

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

 

2134.283

2040.885

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 

556.291

512.097

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

 

1577.992

1528.788

 

 

 

 

 

Less

TAX

 

522.426

569.143

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

 

1055.566

959.645

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

 

13.95

13.90

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check List by Info Agents

Available in Report (Yes / No)

1]

Year of establishment

Yes

2]

Constitution of the entity Incorporation details

Yes

3]

Locality of the entity

Yes

4]

Premises details

Yes

5]

Buyer visit details

--

6]

Contact numbers

Yes

7]

Name of the person contacted

Yes

8]

Designation of contact person

Yes

9]

Promoter’s background

Yes

10]

Date of Birth of Proprietor / Partners / Directors

No

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

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

 

CORPORATE INFORMATION

The Company is a Public limited company incorporated and domiciled in India whose shares are publicly traded. The registered ofce is located in Mumbai India.

 

The Company is engaged in the business of execution of contracts of various infrastructure projects including Transportation Engineering, Irrigation Projects, Civil Construction and Piling Work etc. The Financial Statements of the Company for the year  ended March 31,2017 were authorised for issue by the Board of Directors on May 29, 2017

 

REVIEW OF OPERATIONS OF THE COMPANY

Revenue from standalone operations for the year at INR 14374.952 Million as compared to INR 14086.285 Million for the previous year ended 31st March, 2016. Prot before Tax was INR 1547.764 Million as against INR 1528.894 Million in the previous year ended 31st March, 2016. Prot after Tax was INR 1055.074 Million as against INR 985.009 Million in the previous year ended 31st March, 2016. Revenue from Consolidation for the year at INR15728.066 Million as compared to INR 15077.731 Million for the previous year ended 31st March, 2016.

Prot before Tax was INR 1577.992 million as against INR 1529.788 million in the previous year ended 31st March, 2016. Prot after Tax was INR 1055.566 million as against INR 960.645 million in the previous year ended 31st March, 2016.

 

Indian Economy

The India's Economic performance in 2016-17 has moderated as shown in the Economic Survey. The Economic growth is expected to revive in 2017-18 with the expected normalization in the economy as the cash crunch eases. This is indicative of the relative stability of the economy.

 

There has been an improvement in the government's scal management in 2016-17 aided by the buoyancy in revenue collections.

 

Infrastructure Industry

  • Construction of roads have got accelerated to 133 km roads per day as against 73 Km in 2014.
  • Budget allocation for highways increased to INR 649000.000 million (as against INR 579760.000 million in FY17) in FY18.
  • 2,000 kms of coastal connectivity roads have been identied for construction and development.
  • For transportation sector (including rail, roads, and shipping) a provision of INR 2413870.000 million for FY18.

 

INDEX OF CHARGES

 

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

G82702465

100166130

HDFC BANK LIMITED

16/03/2018

-

-

10724429.0

HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL W MUMBAI-400013 MAHARASHTRA INDIA

2

G77242469

100155313

IDBI TRUSTEESHIP SERVICES LIMITED

06/02/2018

-

-

6900000000.0

ASIAN BUILDING, GROUND FLOOR 17,R.KAMANI MARG, BALLARD ESTATE MUMBAI-400001 MAHARASHTRA INDIA

3

G75904532

100152056

Axis Bank Limited

11/01/2018

-

-

50201440.0

"TRISHUL', 3RD FLOOR, OPP TO SAMARTHESHWAR TEMPLELAW GARDEN, ELLIS BRIDGE AHMEDABAD-380006 GUJARAT INDIA

4

G77817575

100156637

SREI EQUIPMENT FINANCE LIMITED

10/01/2018

-

-

8496000.0

'VISHWAKARMA', 86C, TOPSIA ROAD,KOLKATA-700046 WEST BENGAL INDIA

5

G77817823

100156643

SREI EQUIPMENT FINANCE LIMITED

10/01/2018

-

-

31456800.0

'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA-700046 WEST BENGAL INDIA

6

G74579855

100149364

Axis Bank Limited

26/12/2017

-

-

2276546.0

"TRISHUL', 3RD FLOOR, OPP TO SAMARTHESHWAR TEMPLELAW GARDEN, ELLIS BRIDGE AHMEDABAD-380006 GUJARAT INDIA

7

G71720213

100142551

Axis Bank Limited

05/12/2017

-

-

28922115.0

"TRISHUL', 3RD FLOOR, OPP TO SAMARTHESHWAR TEMPLELAW GARDEN, ELLIS BRIDGE AHMEDABAD-380006 GUJARAT INDIA

8

G59865162

100131002

Oriental Bank of Commerce

30/10/2017

-

-

1500000000.0

14TH FLOOR, MAKER TOWER, F WING, CUFF PARADE MUMBAI-400005 MAHARASHTRA INDIA

9

G80334873

100162670

SREI EQUIPMENT FINANCE LIMITED

30/09/2017

-

-

2670740.0

'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA-700046 GUJARAT INDIA

10

G64328057

100135651

SREI EQUIPMENT FINANCE LIMITED

14/09/2017

-

-

8369991.0

'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA-700046 MAHARASHTRA INDIA

 

 

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31.12.2017

(INR in Million)

PARTICULARS

3 Months

9 Months

 

31.12.2017

30.09.2017

31.03.2017

 

[Unaudited]

[Unaudited]

[Unaudited]

1. Income from Operations

 

 

 

Net Sales/income from operations

4571.696

3170.134

11484.123

Other Operating Income

55.672

58.514

186.537

Total income from operations (net)

4627.368

3228.648

11670.660

 

 

 

 

Expenses

 

 

 

Cost of materials consumed

2639.585

1889.787

7061.947

Changes in inventories of finished goods. work-in-progress and stock in trade

69.132

(195.672)

(726.145)

Employee benefits expense

495.294

442.404

1293.497

Depreciation and Amortization Expenses

176.029

170.830

508.922

Other Expenses

591.352

419.291

1837.176

Finance Costs

169.847

170.734

491.182

Total expenses

4141.239

2897.374

10466.579

Profit/ (Loss) from ordinary activities after finance cost but before exceptional items

486.129

331.274

1204.081

Exceptional items

0.000

0.000

0.000

Profit/ (Loss) from ordinary activities before tax

486.129

331.274

1204.081

Tax expenses

156.906

100.839

386.312

Net Profit / (Loss) from ordinary activities after tax

329.223

230.435

817.769

Extraordinary item (net of tax expense)

0.000

0.000

0.000

Net Profit / (Loss) for the period

329.223

230.435

817.769

Other comprehensive income

(0.965)

(2.040)

(2.893)

Total Other comprehensive income

328.258

228.395

814.876

Paid up equity share capital (Face Value of INR 5/-each)

378.328

378.328

378.328

Earnings per share (before extraordinary items) of INR 5/- each (not annualized):

 

 

 

(a) Basic

4.35

3.05

10.81

(b) Diluted

4.35

3.05

10.81

 

 

CONTINGENT LIABILITIES:

 

(INR in million)

PARTICULARS

31.03.2017

31.03.2016

Guarantees

218634.13

98693.69

Letter of Credit

6665.44

725.05

Income tax liability that may arise in respect of matters in appeal preferred by the

department*

0.000

1833.00

Pending Litigation with local authorities**

1049.50

0.000

Notes:

*For Assessment years 2007 - 08 to 2012 - 13 the Assessments were completed u/s 143(3) read with section 147 of Income Tax Act, 1961 resulting in tax demand of INR 183.300 million. The Company preferred an appeal before commissioner of Income Tax (Appeals) {CIT(A)} who gave substantial relief, where by the tax demand is reduced and same was paid by the Company. Thus there is no demand outstanding on account of aforesaid Assessments. However the Income Tax Authorities and the Company has preferred an appeal against the order of CIT (Appeals) before the Income Tax Appellate Tribunal (ITAT).

 

**The Company has pending litigations with M.C.G.M./B.M.C., against order, the company has preferred an appeal before the honourable commissioner of M.C.G.M. The outcome is still awaited.

 

FIXED ASSETS

·         Land

·         Buildings

·         Plant and Equipment

·         Furniture and Fixtures

·         Vehicles

·         Office Equipment

 

 

 

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

INR

US Dollar

1

INR 65.06

UK Pound

1

INR 91.50

Euro

1

INR 79.77

 

 

INFORMATION DETAILS

 

Information Gathered by :

AKY

 

 

Analysis Done by :

NIS

 

 

Report Prepared by :

RKI

 

 

SCORE FACTORS

 

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

 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

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.