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MIRA INFORM REPORT
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Report No. : |
485326 |
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Report Date : |
11.01.2018 |
IDENTIFICATION DETAILS
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Name : |
PAHARPUR COOLING TOWERS LIMITED (w.e.f. 15.06.1988) |
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Formerly Known
As : |
PAHARPUR COOLING TOWERS
PRIVATE LIMITED (w.e.f. 28.06.1971) PAHARPUR TIMBERS PRIVATE LIMITED |
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Registered
Office : |
Paharpur House,
8/1/B, Diamond Harbour Road, Kolkata – 700027, West Bengal |
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Tel. No.: |
91-33-40133000 |
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Country : |
India |
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Financials (as
on) : |
31.03.2016 |
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Date of
Incorporation : |
25.10.1949 |
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Com. Reg. No.: |
21-018363 |
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Capital
Investment / Paid-up Capital : |
INR 84.000 Million |
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CIN No.: [Company Identification
No.] |
U02005WB1949PLC018363 |
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IEC No.: |
Not Divulged |
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GSTIN: |
19AABCP8017C1ZM |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MRTP00232B |
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PAN No.: [Permanent Account No.] |
AABCP8017C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The company's business segments relates to; · Cooling Equipment and Applications comprising of selling, erection, installation and commissioning of Cooling Towers, other civil structures and Dry Cooling · Flexible Packaging comprising of manufacturing and selling of Laminates and Plastic Pouches · Real Estate comprising of construction, development of residential and commercial complexes · Power and Energy comprising of generation and selling of power generated through wind mills and entitlements there against. [Registered
Activity] |
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No. of Employees
: |
1200 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Paharpur Cooling Towers was incorporated in the year 1949. Management has failed to file its financial with Registrar of
Companies for the FY 2017. As per available financial record of 2016, the company has reported decline
in its revenue as compared to previous year but has managed to maintain fair
profit margin of 7.58%. The robust financial profile of the company is marked by healthy
networth base along with strong debt coverage indicators due to low debt
balance sheet profile. The company has decent earning per share (EPS) of INR 829.25 against
the face value (FV) of INR 100. The rating takes into consideration the subject’s long track record of
business operations along with extensive experience of its promoters. However, rating strength are partially offset by revenue concentration
in the power sector, large working capital requirement, and modest operating
performance of SPX’s dry cooling business. Rating is also constrained on account of absence of latest financials.
Business is active. Payments terms are reported to be usually correct. In view of long standing record and the financials, the company can be
considered for good business dealings at usual trade terms and conditions. Note: As per the indirect sources the company has submitted
restricting scheme to NCLT on September 26, 2017. PCTL’s board approved the
scheme of arrangement to regroup its cooling tower (CT) business, packaging
business, wind business, real estate business into separate companies. As
part of this the CT business will be in a subsidiary of PCT Holding Company
which will hold wind business and major portion of the investment portfolio
as well. |
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 (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
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Rating |
Long Term (A+) |
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Rating Explanation |
Adequate degree of safety and low credit risk. |
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Date |
January 04, 2018 |
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Rating Agency Name |
CRISIL |
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Rating |
Short Term (A1) |
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Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
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Date |
January 04, 2018 |
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
31-03-2016.
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 11.01.2018
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Vikas Vora |
|
Designation : |
Account Manager |
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Contact No.: |
91-33-40133000 |
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Date : |
10.01.2018 |
LOCATIONS
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Registered /
Corporate Office : |
Paharpur House, 8/1/B, Diamond Harbour Road, Kolkata – 700027, West Bengal, India |
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Tel. No.: |
91-33-40133000 |
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Fax No.: |
91-33-40133499 |
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E-Mail : |
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Website : |
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Area : |
48000 Sq. ft. |
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Location : |
Owned |
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Sales Office
(Bangalore) : |
Paharpur House, 41, Cunningham Road Cross, Bangalore – 560052, Karnataka, India |
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Tel. No.: |
91-80-22265566 / 22265567 / 22341911 |
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Fax No.: |
91-80-22253999 |
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E-Mail : |
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Sales Office
(Chennai) : |
1st Floor, New No. 25 (Old No. 12) L B Road, Adyar, Chennai – 600020, Tamilnadu, India |
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Tel. No.: |
91-44-24900275 / 24903109 / 24462313 |
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Fax No.: |
91-44-24903117 |
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E-Mail : |
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Sales Office
(Hyderabad) : |
3rd Floor, "The Grand", 6-3-1090/B/4, Raj Bhavan Road, Somajiguda, Hyderabad – 500082, Telangana, India |
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Tel. No.: |
91-40-23317081-3 |
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Fax No.: |
91-40-23317081 |
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E-Mail : |
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Sales Office
(Mumbai) : |
506, Navkar Chambers, 5th Floor, 'B'Wing, Andheri-Kurla
Road, Andheri(East) |
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Tel. No.: |
91-22-40432432 / 28595924-26 |
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Fax No.: |
91-22-28514913 |
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E-Mail : |
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Sales Office (New
Delhi) : |
806, Ashoka Estate, 24, Barakhamba Road, New Delhi – 110001, India |
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Tel. No.: |
91-11-23357846-50 / 23310826 |
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Fax No.: |
91-11-23357851 |
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E-Mail : |
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Sales Office
(Vadodara) : |
Plot No. 132, KV-I, Manjusar-Savli GIDC, Taluka: Savli, District: Vadodara – 391775, Gujarat, India |
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Tel. No.: |
91-2667-264331 / 264332 |
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Fax No.: |
91-2667-264333 |
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E-Mail : |
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Factory No.1 |
5A, Oil Installation Road, Kolkata – 700088, West Bengal, India |
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Tel. No.: |
91-33- 4012 2200 |
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Fax No.: |
91-33- 4012 2211 |
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Factory No.2 |
14, Diamond Harbour Road, Village: Bhasa, PO: Bishnupur, 24, Parganas (S), Kolkata, West Bengal, India |
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Factory No.3 |
Plot No. 9, Industrial Area IV, Sahibabad, Ghaziabad - 201 010, Uttar Pradesh, India |
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Tel. No.: |
91- 120-462 6600 |
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Fax No.: |
91- 120-462 6633 |
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Factory No.4 |
Survey No. 350, Village: Nanichirai, Taluka BachauNational Highway No.8A, District: Kutch, Gujarat, India |
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Tel. No.: |
91-2836-329555 |
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E-Mail : |
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Factory No.5 |
Plot No. 132 KV-I, Manjusar – Savli GIDC, Tauka: Savli, District: Vadodara – 391 775, Gujarat, Indiua |
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Tel. No.: |
91-2667-264 309 / 11 / 12 |
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Factory No.6
(Zhangjiakou, China) |
SPX Dry Cooling Technologies Zhangjiakou Company
Limited |
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Tel. No.: |
86 (10) 5926 7166 |
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Overseas Office 1: |
PAHARPUR EUROPE SA Viale San Salvatore, 10, CH-6902 Paradiso- Lugano, Switzerland, Europe |
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Tel. No.: |
+41 91 980 42 06 |
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E-Mail : |
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Overseas Office 2: |
PAHARPUR SPX DRY SOGUTMA
TIC. LTD. STI. Sezer Dogan Sk. 20/11, Konak, Izmir, Turkey |
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Tel. No.: |
+90 232 483 0 779 |
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Fax No.: |
+90 232 483 0 780 |
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E-Mail : |
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Overseas Office 3: |
Paharpur USA Inc. Denver International Business Center 18300 East 71st Avenue, Suite 135 Denver, CO 80249, U.S.A. |
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Tel. No.: |
+1-303-989 7200 |
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Fax No.: |
+1-720-962 8400 |
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E-Mail : |
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Overseas Office 4: |
SPX dry coolng, USA, LLC 1200 US Rt. 22 East, Suite 1, Bridgewater, NJ 08807, USA |
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Tel. No.: |
+1 908 450 80008 |
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Overseas Office 5: |
SPX DRY COOLING USA, LLC 7450 West 130th Street, Suite 310, Overland Park, KS 66213, USA |
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Tel. No.: |
+1 913 685 0009 |
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Overseas Office 6: |
Spx Dry Cooling Beijing Room 402, Block B, First Shanghai Center, No. 39, Liangmaqiao Road, Chao Yang District, Beijing 100125, China |
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Tel. No.: |
+83 10 5676 8368 |
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Overseas Office 7: |
SPX DRY COOLING KOREA 11F, Samsung Life Insurance Yoido Building 24, Kukjegeumyunh-Ro 2-Gil, Yeongdeungpo-GU, Seoul 07325, South Korea |
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Tel. No.: |
+82 (0)2 6297 5030 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Vikram Mahendra Swarup |
|
Designation : |
Managing Director |
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Address : |
2B, Judges Court Road, Kolkata – 700027, West Bengal, India |
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Date of Birth/Age : |
16.09.1948 |
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Qualification : |
BE (Mechanical) |
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Date of Appointment : |
14.07.1993 |
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PAN No. : |
ASDPS2724E |
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DIN No. : |
00163543 |
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Name : |
Mr. Gaurav Mahendra Swarup |
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Designation : |
Managing Director |
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Address : |
White House Gardens, 17A, Alipore Road,
Kolkata – 700027, West Bengal, India |
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Date of Birth/Age : |
21.11.1956 |
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Qualification : |
B.E. (Mechanical), MBA (Harvard University) |
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Date of Appointment : |
14.07.1993 |
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PAN No. : |
AKTPS6727K |
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DIN No. : |
00374298 |
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Name : |
Mr. Gyan Mahendra Swarup |
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Designation : |
Director |
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Address : |
2B, Judges Court Road, Kolkata – 700027,
West Bengal, India |
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Date of Birth/Age : |
13.06.1924 |
|
Date of Appointment : |
17.03.2012 |
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PAN No.: |
ALLPS7241R |
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DIN No. : |
03103553 |
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|
Name : |
Mr. Ratan Lal Gaggar |
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Designation : |
Director |
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Address : |
11, Sarat Bose Road, Lansdown Road, Kolkata – 700020, West Bengal,
India |
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Date of Birth/Age : |
01.12.1932 |
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Qualification : |
B.A (Hons.), L.L.B |
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Date of Appointment : |
30.12.1989 |
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DIN No. : |
00322904 |
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|
Name : |
Mr. Satya Brata Ganguly |
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Designation : |
Director |
|
Address : |
5C, New Road, Alipore, Kolkata – 700 027, West Bengal, India |
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Date of Birth/Age : |
23.10.1942 |
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Date of Appointment : |
29.12.2009 |
|
DIN No. : |
01838353 |
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|
|
|
Name : |
Mr. Sumit Mazumder |
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Designation : |
Director |
|
Address : |
Arjun Enclave, Flat No. 5A and 5B, 12 C, Judges Court Road, Kolkata –
700027, West Bengal, India |
|
Date of Birth/Age : |
11.02.1948 |
|
Date of Appointment : |
29.12.2009 |
|
DIN No. : |
00116654 |
KEY EXECUTIVES
|
Name : |
MKB and Associates |
|
Designation : |
Company Secretary |
|
Address : |
Shantiniketan, 5th Floor, Room No.511, 8, Camac Street,
Kolkata – 700017, West Bengal, India |
|
Tel. No: |
91-33-22821348/ 30521719 |
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Email: |
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|
Name : |
Mr. Hirak Ghosh |
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Designation : |
Company Secretary |
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Address : |
CB136, Salt Lake City, Kolkata – 700064, West Bengal, India |
|
Date of Birth/Age : |
16.01.1957 |
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Date of Appointment : |
29.09.2013 |
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PAN No. : |
ADZPG6238Q |
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|
|
|
Name : |
Mr. Arun Kumar Singhania |
|
Designation : |
Chief Financial Officer |
|
Address : |
53/9/2, Bon Behari Bose Road, 1st Floor, Howrah – 711101, West Bengal,
India |
|
Date of Appointment : |
30.03.2015 |
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PAN No. : |
AKUPS9019D |
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|
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|
Name : |
Mr. Vikas Vora |
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Designation : |
Account Manager |
MAJOR SHAREHOLDERS
As on 31.03.2016
|
Names of Shareholders |
No. of Shares |
|
Jain Industrial and Commercial Services Private Limited, India |
210 |
|
Garima Private Limited, India |
42000 |
|
Gyan M Swarup (Trustee of Swarup Family Trust) |
413490 |
|
Vikram Swarup |
155200 |
|
Bindu Vikram Swarup |
8400 |
|
Gaurav Swarup |
155100 |
|
Parul Swarup |
8400 |
|
Siddharth Swarup |
100 |
|
Varun Swarup |
100 |
|
Devina Swarup |
100 |
|
Mahima swarup |
100 |
|
Karishma Swarup |
100 |
|
Anand Swarup Foundation, India |
56700 |
|
Total |
840000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2016
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
39.00 |
|
Promoters (Body corporate) |
5.00 |
|
Public/Other than promoters- Others - Anand Swarup Foundation |
55.97 |
|
Public/Other than promoters (Body corporate) |
0.03 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
The company's business segments relates to; · Cooling Equipment and Applications comprising of selling, erection, installation and commissioning of Cooling Towers, other civil structures and Dry Cooling · Flexible Packaging comprising of manufacturing and selling of Laminates and Plastic Pouches · Real Estate comprising of construction, development of residential and commercial complexes · Power and Energy comprising of generation and selling of power generated through wind mills and entitlements there against. [Registered
Activity] |
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Products / Services
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1200 (Approximately) |
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Bankers : |
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Facilities : |
Note: Long Term
Borrowings:- 2.3.1 Foreign currency loans from bank includes: (i) USD 10 million (equivalent INR of INR 663.329 million applying foreign exchange rate as on 31st March 2016), borrowed on 29th May 2014, included under Other Current Liabilities, which is secured by way of charge ranking pari passu on all present and future moveable properties of the company with the security interest/s created over the secured assets or any parts thereof, in favour of any other lenders. (ii) USD 10 million (equivalent INR of INR 663.329 million applying foreign exchange rate as on 31st March 2016), borrowed on 28th April 2015, included under Other Current Liabilities, which is secured by way of charge ranking pari passu on all present and future moveable properties of the company with the security interest/s created over the secured a sets or any parts thereof, in favour of any other lenders. 2.3.2 Foreign currency loan under 2.3.1 (iii) hereinabove is repayable on 27th May 2016.The interest rate is overnight LIBOR + 1.75% payable monthly and foreign currency loan under 2.3.1(ii) hereinabove is repayable on 27th May 2016.The interest rate is overnight LIBOR + 1.65% payable monthly. Short Term
Borrowings:- 2.6.1 Short Term Borrowings are secured/ to be secured by First charge on book debts, raw materials, work in progress, finished goods, stores and spares, and other current assets both present and future. |
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Auditors : |
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|
Name : |
Lodha and Company Chartered Accountants |
|
Address : |
14, Government
Place East, Kolkata - 700069, West Bengal, India |
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PAN No.: |
AABFL1894Q |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary
Company : |
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Associates : |
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CAPITAL STRUCTURE
AS ON 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
INR 100/- each |
INR 100.000 Million |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
840000 |
Equity Shares |
INR 100/- each |
INR 84.000 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
84.000 |
84.000 |
84.000 |
|
(b) Reserves and Surplus |
16329.155 |
15683.132 |
15428.480 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
16413.155 |
15767.132 |
15512.480 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
625.908 |
550.907 |
|
(b) Deferred tax liabilities (Net) |
558.599 |
579.522 |
141.138 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
81.531 |
64.948 |
40.081 |
|
Total Non-current
Liabilities (3) |
640.130 |
1270.378 |
732.126 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
1437.069 |
2715.365 |
1935.388 |
|
(b) Trade
payables |
984.883 |
1247.917 |
1612.395 |
|
(c) Other
current liabilities |
1967.010 |
1160.542 |
2105.311 |
|
(d) Short-term
provisions |
45.598 |
83.162 |
72.870 |
|
Total Current
Liabilities (4) |
4434.560 |
5206.986 |
5725.964 |
|
|
|
|
|
|
TOTAL |
21487.845 |
22244.496 |
21970.570 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
3545.371 |
3743.430 |
4126.825 |
|
(ii)
Intangible Assets |
1.730 |
1.584 |
1.041 |
|
(iii) Tangible assets
capital work-in-progress |
12.035 |
113.960 |
2.521 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1822.299 |
1530.011 |
1018.892 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
1950.865 |
1649.416 |
2086.648 |
|
(e) Other
Non-current assets |
1887.244 |
1664.035 |
1263.863 |
|
Total Non-Current
Assets |
9219.544 |
8702.436 |
8499.790 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
2659.874 |
3081.401 |
3039.809 |
|
(b)
Inventories |
1955.258 |
2079.292 |
2077.266 |
|
(c) Trade
receivables |
6644.452 |
6636.553 |
7100.766 |
|
(d) Cash and
bank balances |
103.751 |
121.012 |
111.171 |
|
(e)
Short-term loans and advances |
855.518 |
1580.777 |
933.780 |
|
(f) Other
current assets |
49.448 |
43.025 |
207.988 |
|
Total
Current Assets |
12268.301 |
13542.060 |
13470.780 |
|
|
|
|
|
|
TOTAL |
21487.845 |
22244.496 |
21970.570 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
9190.126 |
10934.419 |
13375.981 |
|
|
Other Income |
375.119 |
534.943 |
604.183 |
|
|
TOTAL |
9565.245 |
11469.362 |
13980.164 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
4500.403 |
5769.308 |
6796.751 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
8.512 |
(64.501) |
80.431 |
|
|
Employee benefit expense |
927.206 |
897.153 |
961.590 |
|
|
CSR expenditure |
0.670 |
0.000 |
0.000 |
|
|
Other expenses |
2496.967 |
3090.591 |
3622.105 |
|
|
TOTAL |
7933.758 |
9692.551 |
11460.877 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1631.487 |
1776.811 |
2519.287 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
343.270 |
363.055 |
344.270 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1288.217 |
1413.756 |
2175.017 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
357.544 |
420.289 |
650.202 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
930.673 |
993.467 |
1524.815 |
|
|
|
|
|
|
|
Less |
TAX |
234.100 |
688.417 |
447.368 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
696.573 |
305.050 |
1077.447 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
318.321 |
375.745 |
577.546 |
|
|
TOTAL EARNINGS |
318.321 |
375.745 |
577.546 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
737.891 |
1219.416 |
822.338 |
|
|
Components and spare
parts |
7.342 |
16.513 |
14.146 |
|
|
Capital Goods |
3.894 |
96.631 |
6.370 |
|
|
TOTAL IMPORTS |
749.127 |
1332.560 |
842.854 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
829.25 |
363.16 |
1282.68 |
|
Particulars |
|
|
31.03.2017 |
|
Sales Turnover (Approximately) |
|
|
9500.000 |
The above information has been parted by Mr. Vikas Vora (Account
Manager)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
1326.658 |
573.734 |
701.156 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
1196.576 |
401.951 |
658.073 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
943.557 |
167.238 |
278.966 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
263.89 |
221.53 |
193.76 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
1.38 |
1.65 |
1.88 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
79.88 |
78.95 |
86.59 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
0.83 |
0.85 |
1.21 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
0.46 |
0.46 |
0.61 |
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.27 |
0.29 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
0.17 |
0.25 |
0.21 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
0.27 |
0.33 |
0.37 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.22 |
0.24 |
0.27 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
4.75 |
4.89 |
7.32 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
7.58 |
2.79 |
8.06 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
3.24 |
1.37 |
4.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
4.24 |
1.93 |
6.95 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
2.77 |
2.60 |
2.35 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories) /
Current Liabilities] |
|
2.33 |
2.20 |
1.99 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.76 |
0.71 |
0.71 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
32.90 |
46.61 |
37.95 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current
Assets / Total Current Liabilities] |
|
2.77 |
2.60 |
2.35 |
Total Liability =
Short-term Debt + Long-term Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
84.000 |
84.000 |
84.000 |
|
Reserves & Surplus |
15428.480 |
15683.132 |
16329.155 |
|
Net
worth |
15512.480 |
15767.132 |
16413.155 |
|
|
|
|
|
|
Long-term borrowings |
550.907 |
625.908 |
0.000 |
|
Short term borrowings |
1935.388 |
2715.365 |
1437.069 |
|
Current maturities of
long-term debts |
701.156 |
573.734 |
1326.658 |
|
Total
borrowings |
3187.451 |
3915.007 |
2763.727 |
|
Debt/Equity
ratio |
0.205 |
0.248 |
0.168 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
13375.981 |
10934.419 |
9190.126 |
|
|
|
(18.253) |
(15.952) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
13375.981 |
10934.419 |
9190.126 |
|
Profit/ (Loss) |
1077.447 |
305.050 |
696.573 |
|
|
8.06
% |
2.79
% |
7.58
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
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 |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
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 |
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 |
No |
|
26 |
Turnover of firm for last two/ three 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 |
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 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G72763808 |
100144592 |
AXIS TRUSTEE SERVICES LIMITED |
11/12/2017 |
- |
- |
1609040000.0 |
AXIS HOUSE, BOMBAY DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLIMUMBAIMa400025IN |
|
2 |
G73112658 |
100145571 |
AXIS TRUSTEE SERVICES LIMITED |
11/12/2017 |
- |
- |
1609040000.0 |
AXIS HOUSE, BOMBAY DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLIMUMBAIMa400025IN |
|
3 |
G51892834 |
100119475 |
HDFC BANK LIMITED |
02/08/2017 |
- |
- |
7150000000.0 |
HDFC BANK HOUSE, SENAPATI BAPAT MARG,LOWER PAREL (W)MUMBAIMH400013IN |
|
4 |
G27396159 |
100062658 |
Standard Chartered Bank |
28/11/2016 |
- |
- |
700000000.0 |
19, NS Road, Kolkata 700001KolkataWB700001IN |
|
5 |
G06493159 |
100035647 |
AXIS TRUSTEE SERVICES LIMITED |
15/06/2016 |
- |
- |
9380000000.0 |
Axis House, 2nd Flr, Bombay Dyeing Mills Compound,Pandurang Budhkar Marg, Worli,MumbaiMa400025IN |
|
6 |
G08457350 |
100041583 |
ICICI Bank Limited |
15/06/2016 |
- |
- |
600000000.0 |
LandmarkRace Course CircleVadodaraGJ390007IN |
|
7 |
G00395905 |
100016565 |
AXIS TRUSTEE SERVICES LIMITED |
24/03/2016 |
- |
- |
1985100000.0 |
Axis House, 2nd Flr, Bombay Dyeing Mills Compound,Pandurang Budhkar Marg, Worli,MumbaiMa400025IN |
|
8 |
G00408104 |
100016586 |
AXIS TRUSTEE SERVICES LIMITED |
24/03/2016 |
- |
- |
1985100000.0 |
Axis House, 2nd Flr, Bombay Dyeing Mills Compound,Pandurang Budhkar Marg, Worli,MumbaiMa400025IN |
|
9 |
Y10358431 |
90250794 |
EXPORT IMPORT BANK OF INDIA |
08/11/2004 |
- |
- |
2000000.0 |
CENTRE ONE BUILDINGCUFFE PARADEMUMBAIMH400005IN |
|
10 |
B59792556 |
90250535 |
ING VYSYA BANK LIMITED |
25/07/2002 |
15/09/2012 |
- |
1430000000.0 |
4/1,MIDDLETON STREET,SIKKIM HOUSE,KOLKATAWB700071IN |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Claims against company not acknowledged as debt |
3.667 |
23.274 |
|
Guarantees |
8407.696 |
562.488 |
|
Other money for which company is contingently liable |
561.607 |
578.886 |
FIXED ASSETS:
- Land
- Building
- Plant and
Machinery
- Furniture and
Fixture
- Computer
- Vehicles
CMT REPORT (Corruption, Money Laundering
& Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No 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 63.83 |
|
|
1 |
INR 86.28 |
|
Euro |
1 |
INR 76.14 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
VRS |
|
|
|
|
Report Prepared
by : |
MTN |
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.