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MIRA INFORM REPORT
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Report No. : |
487983 |
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Report Date : |
27.01.2018 |
IDENTIFICATION DETAILS
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Name : |
SHREEM ELECTRIC LIMITED [w.e.f.26.02.2010] |
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Formerly Known
As : |
SHREEM ELECTRIC PRIVATE LIMITED [w.e.f.30.12.2009] SHREEM CAPACITORS PRIVATE LIMITED |
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Registered
Office : |
Shantiban Society, Neminath Nagar, Dhamni Road, Sangli – 416416, Maharashtra |
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Tel. No.: |
91-2322-221663 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
02.01.1976 |
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Com. Reg. No.: |
11-151160 |
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Capital
Investment / Paid-up Capital : |
INR 860.693 Million |
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CIN No.: [Company Identification
No.] |
U51505PN1976PLC151160 |
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IEC No.: |
0388085720 |
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GSTIN: |
27AACCS4893C1Z9 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
KLPS03718B |
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PAN No.: [Permanent Account No.] |
AACCS4893C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of manufacturing of high voltage/low voltage capacitors, capacitor banks, breakers, control panels, substation structures and executing turnkey projects for electricity transmission and distribution. [Registered Activity and also Confirmed by Management] |
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No. of Employees
: |
1500 (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 |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1976 and it is having good track. It manufactures electrical equipment, mainly high tension and low tension capacitors and other allied products used in the transmission and distribution sector. For the financial year 2017, the company has increased its revenue from operation as compared to previous year and maintained average profitability margin of 1.78%. Rating takes into consideration sound financial profile of the company marked by healthy networth base and average debt balance sheet. Further, rating also reflects from its long-standing experience of the promoters in the electrical equipment, well established track record of business operations along with market position and improvement in the revenue as well profitability profile during the year. However, these strengths are partially offset by working capital intensive nature of business, volatility in raw material prices and foreign exchange. Trade relations are reported as fair. Business is active. Payments terms are seems to be regular. In view of the aforesaid, the company can be considered 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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
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 |
CARE |
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Rating |
Long term Rating (A-) |
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Rating Explanation |
Adequate degree of safety and low credit risk. |
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Date |
23.01.2017 |
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Rating Agency Name |
CARE |
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Rating |
Short term Rating (A2+) |
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Rating Explanation |
Strong degree of safety and low credit risk. |
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Date |
23.01.2017 |
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
31-03-2016.
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 27.01.2018
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
|
Name : |
Mr. G.N. Deshpande |
|
Designation : |
Finance Head |
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Contact No.: |
91-9370525255 |
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Date : |
27.01.2018 |
LOCATIONS
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Registered Office : |
Shantiban Society, Neminath Nagar, Dhamni Road, Sangli – 416416, Maharashtra,
India |
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Tel. No.: |
91-2322-221663 |
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Mobile No.: |
91-9370525255 (Mr. G.N. Deshpande) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Residential |
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Factory 1/ Research and Development Center/ Corporate Office : |
Plot No. 43 to 46, L.K. Industrial Estate, Jaysingpur, Taluka Shirol, District Kolhapur-416144, Maharashtra, India |
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Tel. No.: |
91-2322-221021/ 22/24/ 45 |
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Fax No.: |
91-2322-221023 |
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E-Mail : |
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Factory 2 : |
Plot No. 3, Gat No. 418/2, L.K. Industrial Estate,
Jaysingpur, Taluka Shirol, District Kolhapur-416144, Maharashtra, India |
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Factory 3 : |
Gat No. 311, Mouje Agar, Taluka Shirol, District Kolhapur-416144,
Maharashtra, India |
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Factory 4 : |
Gat No. 315/B, 259, 260, 261, Mouje Agar, Taluka Shirol, District
Kolhapur-416144, Maharashtra, India |
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Branch Offices : |
Located at: · Mumbai · Chennai · Indore · New Delhi · Bhopal · Chandigarh · Gujarat · Rajasthan · Nagpur · Maharashtra · Madhya Pradesh · Bangalore · Pune · Jammu · Jabalpur · Raipur · Lucknow |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Shahaji Ramchandra Jagadale |
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Designation : |
Managing director |
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Address : |
“Sharvari” Near SBI Colony, Sangli – 416416, Maharashtra, India |
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Date of Birth/Age : |
01.04.1942 |
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Qualification : |
BME |
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Date of Appointment : |
15.01.1976 |
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PAN No.: |
ABAPJ7056J |
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DIN No.: |
00356655 |
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Name : |
Mr. Vikas Shahaji Jagadale |
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Designation : |
Managing director |
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Address : |
“Sharvari” Near SBI Colony, Sangli – 416416, Maharashtra, India |
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Date of Birth/Age : |
13.07.1970 |
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Qualification : |
Graduation |
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Date of Appointment : |
18.03.2006 |
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PAN No.: |
AAWPJ5857C |
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Passport No.: |
Z1722598 |
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DIN No.: |
00361639 |
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Name : |
Mr. Rajesh Kumar Dugar |
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Designation : |
Director |
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Address : |
31, Chitrakoot Altamount Road, Mumbai – 400026, Maharashtra, India |
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Date of Birth/Age : |
01.07.1969 |
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Qualification : |
Graduation |
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PAN No.: |
ABLPD3072B |
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Date of Appointment : |
14.10.2010 |
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DIN No.: |
00307729 |
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Name : |
Mr. Chakravarthi Sundarashyam |
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Designation : |
Director |
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Address : |
202, Sri Anita Apartments, 2-2-20/B/12, DD Colony, Bagh, Amberpet,
Hyderabad – 500013, Telangana, India |
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Date of Birth/Age : |
02.01.1945 |
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Qualification : |
Graduation |
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Date of Appointment : |
15.04.2011 |
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PAN No.: |
ABJPC6562F |
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DIN No.: |
00358052 |
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Name : |
Mrs. Hema Shahaji Jagadale |
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Designation : |
Director |
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Address : |
“Sharvari” Near SBI Colony, Sangli – 416416, Maharashtra, India |
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Date of Birth/Age : |
02.06.1950 |
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Date of Appointment : |
08.04.1997 |
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PAN No.: |
AAWPJ5856D |
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Qualification : |
Graduation |
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Passport No.: |
Z2805406 |
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DIN No.: |
00361292 |
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Name : |
Mr. Vishal Shahaji Jagadale |
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Designation : |
Whole-time director |
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Address : |
“Sharvari” Near SBI Colony, Sangli – 416416, Maharashtra, India |
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Date of Birth/Age : |
15.12.1973 |
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Qualification : |
Graduation |
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Date of Appointment : |
18.03.2006 |
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PAN No.: |
AAWPJ5855A |
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Passport No.: |
J2787694 |
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DIN No.: |
00361449 |
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Name : |
Mr. Vijay Pandurang Pawar |
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Designation : |
Director |
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Address : |
B1/1054, Clover Heights, Wanowari, Pune-410040, Maharashtra, India |
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Date of Birth/Age : |
24.09.1944 |
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Qualification : |
Graduation |
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Date of Appointment : |
30.09.2014 |
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PAN No.: |
AFEPP0508F |
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DIN No.: |
07135572 |
KEY EXECUTIVES
|
Name : |
Dilip Pange and Associates |
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Designation : |
Company Secretary |
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Address : |
Prabhakar Plaza, B-FO-3, 4th Floor, Dabholkar Corner, Station
Road, Kolhapur – 416001, Maharashtra, India |
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Tel. No: |
91-231-2662660/ 2661660 |
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Mob. No: |
91-9822012508 |
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Email: |
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PAN No: |
ABLPP1643A |
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Name : |
Mrs. Radhika Sagar Patel |
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Designation : |
Company Secretary |
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Address : |
G - 104, Mont Vert Tropez, Kaspate Wasti, Wakad, Pune-411057, Maharashtra, India |
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Date of Birth/Age : |
14.02.1990 |
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Date of Appointment : |
02.02.2015 |
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PAN No.: |
BFQPP1821N |
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Name : |
Mr. Amarnath Kashinath Dalavi |
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Designation : |
Chief Finance Officer |
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Address : |
216, Ganesh Nakshtram, Near Dsk Vishwa, Dhayari, Pune-411041, Maharashtra, India |
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Date of Appointment : |
01.04.2016 |
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PAN No.: |
BGNPD6951R |
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Name : |
Mr. G.N. Deshpande |
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Designation : |
Finance Head |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Equity Shareholders |
|
No. of Shares |
|
Shahaji Ramchandra Jagadale |
|
2790700 |
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Shahaji Ramchandra Jagadale (HUF) |
|
1197400 |
|
Hema Shahaji Jagadale |
|
2397400 |
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Vikas Shahaji Jagadale |
|
1052600 |
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Vikas Shahaji Jagadale (HUF) |
|
282400 |
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Vishal Shahaji Jagadale |
|
1052600 |
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Vishal Shahaji Jagadale (HUF) |
|
194200 |
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Rakhee Vikas Jagadale |
|
3800 |
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Yogini Vishal Jagadale |
|
3800 |
|
Sharp Financial and Capital Cons. Private Limited (Previously known as
Sharp Computers Serv. and Co. Private Limited), India L.K. Akiwate Industrial Estate, Jaysingpur |
|
9578900 |
|
Harivikas Agriculture and Trading LLP, Sangli |
|
1522200 |
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Vikas Shahaji Jagadale and Vishal Shahaji Jagadale [Shreem Electric
Employee Welfare Trust] |
|
708565 |
|
FIL Capital Management (Mauritius) Limited, Mauritius C/o Cim Fund Services
Limited, Mauritius |
|
298 |
|
Fidelity India Principals, India |
|
2 |
|
Total |
|
20784865 |
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Names of Preference Shareholders |
|
No. of Shares |
|
FIL Capital Management (Mauritius) Limited, Mauritius C/o CIM Fund Services
Limited, Mauritius |
|
2812811 |
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Fidelity India Principals, India |
|
21210 |
|
Total |
|
2834021 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2017
|
Category |
Percentage |
|
Promoters (Individual/Hindu Undivided Family – Indian) |
43.18 |
|
Promoters (Others) |
56.82 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business
: |
Subject is engaged in the business of manufacturing of high voltage/low voltage capacitors, capacitor banks, breakers, control panels, substation structures and executing turnkey projects for electricity transmission and distribution. [Registered Activity and also Confirmed by Management] |
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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 : |
· Brazil · African Countries · USA · European Countries |
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Imports : |
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Products : |
Raw Material |
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Countries : |
· China · France · European Countries |
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Terms : |
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Selling : |
L/C, Cheque and Credit/ RTGS [30 Days, 60 Days and 90 Days] |
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Purchasing : |
L/C, Cheque and Credit/ RTGS [30 Days, 60 Days and 90 Days] |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users and OEM’s
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No. of Employees : |
1500 (Approximately) |
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Bankers : |
·
ICICI Bank Limited Bagal Chowk, Rajarampuri, Kolhapur - 416008,
Maharashtra, India ·
Bharat Urban Co-Operative Bank Limited Jaysingpur Branch,
Jaisingpur, Maharashtra, India ·
HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel
[West], Mumbai - 400013, Maharashtra, India · The Ratnakar Bank Limited, Shahupuri,Kolhapur, Kolhapur - 416001, Maharashtra, India ·
·
Bank of Baroda, L. K. Akiwate Udyam
NagarJaysingpur-416144, Maharashtra, India IDBI Bank Limited ·
Axis Bank Limited · Canara Bank |
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Facilities : |
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Financial Institutions: |
SBICAP Trustee Company Limited, 202, Maker Tower, 'E', Cuffe Parade, Colaba, Mumbai - 400005, Maharashtra, India Daimler Financial Services India Private Limited, Unit 202, 2nd Floor, Campus 3-B, RMZ Millennia, Business Park, No.143, Dr. M.G.R. Road, Perungudi, Chennai-600096, Tamilnadu, India |
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Auditors 1 : |
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|
Name : |
V. T. and Associates Chartered Accountants |
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Address : |
36/3-B, Koregaon Park Annex, Mundhwa Road, Sangli-416 416, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAFFV3492E |
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Auditors 2 : |
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|
Name : |
BSR and Company LLP Chartered Accountants |
|
Address : |
8th Floor, Business Plaza, Westin Hotel Campus 168, Vakhar Bhag, Pune-411 001, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAKFB4397F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary company |
Shreem Ekektri Ithalat Ihracat Sanayi Ve Ticaret Limited, Sirketi Turkey |
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|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
·
Mahan Electrical Industries Private Limited
[U31909MH1987PTC044793] ·
Sharp Financial and Capital Consultant
Private Limited [U74999MH1987PTC034846] ·
United Industries, India ·
Shreem Engineering Industries ·
K.N.G. Wires and Cables LLP |
CAPITAL STRUCTURE
As on: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
INR 10/- each |
INR 250.000 Million |
|
2834021 |
Preference Shares |
INR 232.86/- each |
INR 659.930 Million |
|
|
|
|
|
|
|
Total |
|
INR 909.930
Million |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20784865 |
Equity Shares |
INR 10/- each |
INR 207.849
Million |
|
2834021 |
Preference Shares |
INR 232.86/- each |
INR 659.930
Million |
|
|
|
|
|
|
|
Total |
|
INR 867.779 Million |
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20076300 |
Equity Shares |
INR 10/- each |
INR 200.763
Million |
|
2834021 |
Preference Shares |
INR 232.86/- each |
INR 659.930
Million |
|
|
Total |
|
INR 860.693 Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
860.693 |
860.693 |
860.693 |
|
(b) Reserves and Surplus |
1921.129 |
1788.795 |
1733.004 |
|
(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) |
2781.822 |
2649.488 |
2593.697 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.658 |
2.467 |
4.196 |
|
(b) Deferred tax liabilities (Net) |
432.325 |
397.264 |
58.109 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
9.966 |
7.477 |
5.504 |
|
Total Non-current
Liabilities (3) |
443.949 |
407.208 |
67.809 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
3070.542 |
2793.488 |
3041.740 |
|
(b) Trade
payables |
3332.632 |
2904.274 |
2732.589 |
|
(c) Other
current liabilities |
179.956 |
208.074 |
279.930 |
|
(d) Short-term
provisions |
46.242 |
44.631 |
149.485 |
|
Total Current
Liabilities (4) |
6629.372 |
5950.467 |
6203.744 |
|
|
|
|
|
|
TOTAL |
9855.143 |
9007.163 |
8865.250 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
630.769 |
672.294 |
741.464 |
|
(ii)
Intangible Assets |
4.230 |
7.785 |
11.341 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.315 |
0.314 |
0.085 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
255.768 |
247.544 |
26.461 |
|
(e) Other
Non-current assets |
12.136 |
48.093 |
102.348 |
|
Total Non-Current Assets |
903.218 |
976.030 |
881.699 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
8.000 |
5.000 |
5.000 |
|
(b)
Inventories |
527.230 |
418.539 |
331.782 |
|
(c) Trade
receivables |
6664.337 |
5652.569 |
5963.755 |
|
(d) Cash and
bank balances |
548.710 |
611.844 |
399.569 |
|
(e)
Short-term loans and advances |
414.961 |
379.926 |
371.015 |
|
(f) Other
current assets |
788.687 |
963.255 |
912.430 |
|
Total
Current Assets |
8951.925 |
8031.133 |
7983.551 |
|
|
|
|
|
|
TOTAL |
9855.143 |
9007.163 |
8865.250 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
7448.760 |
7321.314 |
6048.470 |
|
|
Other Income |
93.209 |
91.558 |
38.225 |
|
|
TOTAL |
7541.969 |
7412.872 |
6086.695 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
4415.295 |
3845.743 |
4548.977 |
|
|
Purchases of
Stock-in-Trade |
1654.300 |
2073.787 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(66.339) |
(26.036) |
(20.196) |
|
|
Employee benefit expense |
208.241 |
206.860 |
183.721 |
|
|
Other expenses |
503.706 |
485.395 |
491.924 |
|
|
TOTAL |
6715.203 |
6585.749 |
5204.426 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
826.766 |
827.123 |
882.269 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
559.211 |
567.242 |
509.953 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
267.555 |
259.881 |
372.316 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
79.898 |
84.945 |
93.379 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
187.657 |
174.936 |
278.937 |
|
|
|
|
|
|
|
Less |
TAX |
54.808 |
119.145 |
220.683 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
132.849 |
55.791 |
58.254 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
267.236 |
252.117 |
259.416 |
|
|
|
|
|
|
|
|
IMPORTS (Purchases)
|
268.278 |
170.152 |
222.299 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
6.39 |
2.68 |
2.80 |
Expected Sales (2017-2018): INR 8000.000 Million (Due to Business
growth)
The above information has been parted by Mr. G.N. Deshpande (Finance
Head)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
35.346 |
62.644 |
85.835 |
|
|
|
|
|
|
Net cash flows from (used in) operations |
189.543 |
174.936 |
278.937 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
112.750 |
174.936 |
278.937 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income * 365] |
|
326.56 |
281.81 |
359.89 |
|
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
|
1.12 |
1.30 |
1.01 |
|
|
|
|
|
|
|
Average Payment Days [Sundry Creditors /
Purchases * 365] |
|
200.41 |
179.08 |
219.26 |
|
|
|
|
|
|
|
Inventory Turnover [Operating Income /
Inventories] |
|
1.57 |
1.98 |
2.66 |
|
|
|
|
|
|
|
Asset Turnover [Operating Income / Net Fixed
Assets] |
|
1.30 |
1.22 |
1.17 |
LEVERAGE
RATIOS
LEVERAGE RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio [(Borrowing + Current Liabilities) / Total Assets] |
|
0.68 |
0.67 |
0.71 |
|
|
|
|
|
|
|
Debt Equity Ratio (Borrowings / NetWorth) |
|
1.12 |
1.08 |
1.21 |
|
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / NetWorth) |
|
2.38 |
2.25 |
2.39 |
|
|
|
|
|
|
|
Fixed Assets to NetWorth (Net Fixed Assets /
NetWorth) |
|
0.23 |
0.26 |
0.29 |
|
|
|
|
|
|
|
Interest Coverage Ratio [PBIT / Financial
Charges] |
|
1.48 |
1.46 |
1.73 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin [(PAT / Sales) * 100] |
(%) |
1.78 |
0.76 |
0.96 |
|
|
|
|
|
|
|
Return on Total Assets [(PAT / Total Assets)
* 100] |
(%) |
1.35 |
0.62 |
0.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) [(PAT / NetWorth)
* 100] |
(%) |
4.78 |
2.11 |
2.25 |
SOLVENCY RATIO
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio [Current Assets / Current Liabilities] |
|
1.35 |
1.35 |
1.29 |
|
|
|
|
|
|
|
Quick Ratio [(Current Assets - Inventories)
/ Current Liabilities] |
|
1.27 |
1.28 |
1.23 |
|
|
|
|
|
|
|
G-Score Ratio Financial [NetWorth / Total
Assets] |
|
0.28 |
0.29 |
0.29 |
|
|
|
|
|
|
|
G-Score Ratio Debt [Debts / Equity Capital] |
|
3.61 |
3.32 |
3.64 |
|
|
|
|
|
|
|
G-Score Ratio Liquidity [Total Current Assets
/ Total Current Liabilities] |
|
1.35 |
1.35 |
1.29 |
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 |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
860.693 |
860.693 |
860.693 |
|
Reserves & Surplus |
1733.004 |
1788.795 |
1921.129 |
|
Net
worth |
2593.697 |
2649.488 |
2781.822 |
|
|
|
|
|
|
Long-term borrowings |
4.196 |
2.467 |
1.658 |
|
Short term borrowings |
3041.740 |
2793.488 |
3070.542 |
|
Current maturities of
long-term debts |
85.835 |
62.644 |
35.346 |
|
Total
borrowings |
3131.771 |
2858.599 |
3107.546 |
|
Debt/Equity
ratio |
1.207 |
1.079 |
1.117 |
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 |
6048.470 |
7321.314 |
7448.760 |
|
|
|
21.044 |
1.741 |
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 |
6048.470 |
7321.314 |
7448.760 |
|
Profit/ (Loss) |
58.254 |
55.791 |
132.849 |
|
|
0.96
% |
0.76
% |
1.78
% |
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 |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
COMPANY BACKGROUND
The Company was incorporated on 2 January 1976 in the name of Shreem Capacitors Private Limited. On 30 December 2009 the Company was renamed to Shreem Electric Private Limited from Shreem Capacitors Private Limited. On 26 February 2010 the Company was converted into a Public Limited Company - Shreem Electric Limited. The Company has its registered office in Sangli. The factory and in-house Research and Development (R & D) centre is located in Jaysingpur, District Kolhapur.
The Company is involved in the business of manufacturing high voltage/low voltage capacitors, capacitor banks, breakers, control panels, substation structures and executing turnkey projects for electricity transmission and distribution sector.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from banks |
1.658 |
2.467 |
|
Short-term
borrowings |
|
|
|
Deposits |
7.234 |
0.103 |
|
Total |
8.892 |
2.570 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G70781836 |
100141264 |
Bank of Baroda |
27/09/2017 |
- |
- |
890000.0 |
L. K. Akiwate UdyamnagarJaysingpurMH416144IN |
|
2 |
G55024228 |
100125607 |
DAIMLER FINANCIAL SERVICES INDIA PRIVATE LIMITED |
28/07/2017 |
- |
- |
3000000.0 |
Unit 202, 2nd Floor, Campus 3B,RMZ MillenniaBusiness Park, No.143, Dr. M.G.R.Road,PerungudiChennaiTa600096IN |
|
3 |
G44050573 |
100098077 |
Bank of Baroda |
02/05/2017 |
- |
- |
710000.0 |
L. K. Akiwate UdyamnagarJaysingpurMH416144IN |
|
4 |
G44050789 |
100098079 |
Bank of Baroda |
02/05/2017 |
- |
- |
710000.0 |
L. K. Akiwate UdyamnagarJaysingpurMH416144IN |
|
5 |
G44050870 |
100098080 |
Bank of Baroda |
02/05/2017 |
- |
- |
710000.0 |
L. K. Akiwate UdyamnagarJaysingpurMH416144IN |
|
6 |
G27761832 |
100062970 |
Bank of Baroda |
18/10/2016 |
- |
- |
3000000.0 |
L. K. Akiwate UdyamnagarJaysingpurMH416144IN |
|
7 |
C81891665 |
10626444 |
Bank of Baroda |
18/02/2016 |
- |
- |
640000.0 |
L. K. Akiwate UdyamnagarJaysingpurMH416144IN |
|
8 |
C75789131 |
10612912 |
HDFC BANK LIMITED |
04/12/2015 |
- |
- |
700000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
9 |
C70109657 |
10602503 |
HDFC BANK LIMITED |
25/08/2015 |
- |
- |
2540000.0 |
HDFC BANK HOUSESENAPATI BAPAT MARGLOWER PAREL WMUMBAIMH400013IN |
|
10 |
G52232824 |
10191641 |
SBICAP TRUSTEE COMPANY LIMITED |
03/11/2009 |
28/08/2017 |
- |
10000000000.0 |
202, MAKER TOWER, 'E', CUFFE PARADE,COLABA,MUMBAIMH400005IN |
FIXED ASSETS
- Land
- Building
- Furniture and
Fixture
- Computer
- Plant and
Machinery
- Vehicle
- Office equipment
- Computer
Accessories
- Computer
Software
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 records 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 63.50 |
|
|
1 |
INR 90.92 |
|
Euro |
1 |
INR 79.07 |
INFORMATION DETAILS
|
Information
Gathered by : |
SLK |
|
|
|
|
Analysis Done by
: |
PSD |
|
|
|
|
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.