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MIRA INFORM REPORT
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Report No. : |
510444 |
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Report Date : |
26.05.2018 |
IDENTIFICATION DETAILS
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Name : |
BIL INFRATECH LIMITED (w.e.f. 30.09.2010) |
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Formerly Known
As : |
BIL INFRATECH PRIVATE LIMITED (w.e.f.22.09.2010) SARAL DEVELOPERS PRIVATE LIMITED |
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Registered
Office : |
Axis Mall, Block - C, 2nd & 6th Floor, Action Area - 1, New Town, Rajarhat, Kolkata – 700156, West Bengal |
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Tel. No.: |
91-33-40161800 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
29.07.2010 |
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Com. Reg. No.: |
21-151807 |
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Capital
Investment / Paid-up Capital : |
INR 250.000 Million |
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CIN No.: [Company Identification
No.] |
U45400WB2010PLC151807 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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GSTIN : [Goods & Service Tax Registration No.] |
Not Divulged |
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TIN No : |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAECB2724M |
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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 executing turnkey projects in the fields of Material handling plant, Coal handling plant, Ash handling plant, Alumina handling plant, Cement plant etc. and civil, Industrial and commercial construction projects. (Registered Activity) |
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No. of Employees
: |
Information denied by the management |
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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Maximum Credit Limit : |
USD 1497000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a wholly owned subsidiary of “Binani Industries Limited” incorporated in the year 2010 and is engaged in executing construction contracts for infrastructure development projects (both civil & structural) and also has expertise for turnkey execution of cement plants, power plants, bulk & powder material handling systems and mineral beneficiation.
For the financial year 2017, the company has reported a sharp decline in its revenue as compared to its previous year along with thin profit margin during the year. The company possesses satisfactory financial risk profile marked by acceptable net worth base and average debt protection metrics. Rating continue to derive strength from the experience of the promoters and management team of BILIL, reputed clientele and moderate capital structure. However, these rating strengths gets partially offset by the working capital intensive nature of operation, intense competition from existing established players, profitability susceptible to volatile input prices, weak credit profile of the promoter group and risk associated with delay in project execution or receipt of payments. Further, as per indirect source we could find that the “Binani Group” subsidiary (Binani Cement Limited) are facing severe liquidity issues as a result of continuing losses. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business dealing 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 (30.09.2017) |
Current Rating (31.12.2017) |
|
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 |
CARE |
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Rating |
Long Term Rating = BB+ |
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Rating Explanation |
Moderate risk of default |
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Date |
06.10.2017 |
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Rating Agency Name |
CARE |
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Rating |
short Term Rating = A4+ |
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Rating Explanation |
Minimal degree of safety and very high credit risk |
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Date |
06.10.2017 |
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 26.05.2018
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 DECLINED
Management non-cooperative (Tel No.: 91-33-40161800)
LOCATIONS
|
Registered Office : |
Axis Mall, Block - C, 2nd & 6th Floor, Action Area - 1, New Town, Rajarhat, Kolkata – 700156, West Bengal |
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Tel. No.: |
91-33-40161800 |
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Fax No.: |
91-33-40161812 |
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E-Mail : |
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Website : |
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Corporate Office : |
Mercantile Chambers, Ground Floor 12, J N Heredia Marg, Ballard Estate, Mumbai - 400001, Maharashtra, India |
DIRECTORS
As on 31.03.2018
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Name : |
Mr. Sekhar Bhattacharya |
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Designation : |
Managing Director |
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Address : |
Fd 423/1a Salt Lake Block - Fd Bidhannagar North 24 Parganas, Kolkata - 700106, West Bengal, India |
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Date of Birth/Age : |
20.11.1962 |
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Qualification : |
B.Com., LL.B., C.W.A. & C.S |
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PAN No : |
ACPPB4058C |
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Date of Appointment : |
05.10.2016 |
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DIN No : |
07638962 |
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Name : |
Mr. Pratap Chandra Panda |
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Designation : |
Additional Director |
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Address : |
Plot No-16, 4th Floor, Manorama Appartment Cuttack Road, Rasulgarh, Bhubaneswar - 751010, Orissa, India |
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Date of Appointment : |
16.10.2017 |
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DIN No : |
07035819 |
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Other
Directorship :
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Name : |
Ms. Kirti Mishra |
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Designation : |
Director |
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Address : |
B-41/2, 2nd Floor, Panchsheel Enclave, New Delhi - 110017, India |
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Date of Birth/Age : |
19.09.1947 |
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Qualification : |
Advocate |
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PAN No : |
AAGPM0394M |
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Date of Appointment : |
29.05.2017 |
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DIN No : |
07824918 |
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Other
Directorship :
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KEY EXECUTIVES
|
Name : |
Ms. Neha Jain |
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Designation : |
Company Secretary |
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Address : |
50, Weston Street, 1st Floor, Room No. 105, Kolkata – 700 012, West Bengal, India |
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Name : |
Mr. Hrudananda Kar |
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Designation : |
Chief Finance Officer |
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Address : |
E-703,Jalvayu Towers Action Area-1d,New Town, Rajarhat, Kolkata - 700156, West Bengal, India |
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Date of Birth/Age : |
03.05.1966 |
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PAN No : |
ABZPK7589E |
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Date of Appointment : |
15.06.2016 |
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Name : |
Mr. Bishnu Charan Senapati |
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Designation : |
Company Secretary |
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Address : |
Shrachi Greenwood Elements, Mig Terra-Ii 8m2f Beside City Centre -2, New Town, Ra Jarhat Kolkata - 700157, West Bengal, India |
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Date of Birth/Age : |
01.12.1975 |
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PAN No : |
BAFPS8747G |
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Date of Appointment : |
02.07.2012 |
MAJOR SHAREHOLDERS
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Binani Industries Limited |
|
24999994 |
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Sekhar Bhattacharya |
|
1 |
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Visalakshi Sridhar |
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1 |
|
Indra Pugalia |
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1 |
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Bishnu Senapati |
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1 |
|
K. Gangadhar |
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1 |
|
Sushil Mundra |
|
1 |
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Total |
|
25000000 |
Equity Share Break up (Percentage of Total Equity)
As on 21.09.2017
|
Category |
Percentage |
|
Promoters (Body corporate) |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of executing turnkey projects in the fields of Material handling plant, Coal handling plant, Ash handling plant, Alumina handling plant, Cement plant etc. and civil, Industrial and commercial construction projects. (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 : |
Not Divulged |
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Imports : |
Not Divulged |
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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 : |
Information denied by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Udeshi Shukla And Associates Chartered Accountants |
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Address : |
A103/PNG CHS, Near Customs Colony, Opposite Powai Lake, Powai, Mumbai-76, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFU3304K |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Other Related party : |
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Fellow Subsidiary
company : |
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Holding Company : |
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CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
INR 10/- each |
INR 300.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
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|
25000000 |
Equity Shares |
INR 10/- each |
INR 250.000 Million |
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FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
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|
|
|
(a) Share Capital |
250.000 |
250.000 |
196.500 |
|
(b) Reserves and Surplus |
273.979 |
217.228 |
146.163 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
(d) Minority interest |
0.000 |
0.000 |
0.000 |
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|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
53.500 |
|
Total
Shareholders’ Funds (1) + (2) |
523.979 |
467.228 |
396.163 |
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(3)
Non-Current Liabilities |
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|
|
|
(a) long-term borrowings |
321.706 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.328 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
100.017 |
415.814 |
215.281 |
|
(d) long-term
provisions |
60.932 |
51.338 |
71.737 |
|
Total Non-current
Liabilities (3) |
482.983 |
467.152 |
287.018 |
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(4)
Current Liabilities |
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|
|
|
(a) Short-term
borrowings |
324.363 |
187.126 |
65.473 |
|
(b) Trade
payables |
438.798 |
470.313 |
508.504 |
|
(c) Other
current liabilities |
343.126 |
483.775 |
634.447 |
|
(d) Short-term provisions |
15.764 |
3.478 |
3.277 |
|
Total Current
Liabilities (4) |
1122.051 |
1144.692 |
1211.701 |
|
|
|
|
|
|
TOTAL |
2129.013 |
2079.072 |
1894.882 |
|
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II.
ASSETS |
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|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
97.524 |
103.729 |
118.515 |
|
(ii)
Intangible Assets |
3.553 |
5.536 |
7.093 |
|
(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 |
250.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
169.822 |
80.790 |
65.254 |
|
(e) Other
Non-current assets |
0.000 |
35.594 |
25.080 |
|
Total Non-Current Assets |
520.899 |
225.649 |
215.942 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
24.220 |
11.277 |
13.808 |
|
(c) Trade
receivables |
473.481 |
726.494 |
661.186 |
|
(d) Cash and
bank balances |
116.086 |
108.140 |
400.592 |
|
(e)
Short-term loans and advances |
638.928 |
612.985 |
509.966 |
|
(f) Other
current assets |
355.399 |
394.527 |
93.388 |
|
Total
Current Assets |
1608.114 |
1853.423 |
1678.940 |
|
|
|
|
|
|
TOTAL |
2129.013 |
2079.072 |
1894.882 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
2457.440 |
3264.044 |
3168.937 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
TOTAL |
2457.440 |
3264.044 |
3168.937 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1929.193 |
2654.574 |
2654.710 |
|
|
Employee benefit expense |
217.966 |
294.965 |
242.602 |
|
|
CSR expenditure |
2.624 |
1.592 |
1.017 |
|
|
Other expenses |
174.612 |
131.986 |
142.294 |
|
|
Extraordinary items before tax |
0.000 |
1.595 |
0.000 |
|
|
TOTAL |
2324.395 |
3084.712 |
3040.623 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
133.045 |
179.332 |
128.314 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
33.161 |
33.464 |
25.652 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
99.884 |
145.868 |
102.662 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
14.041 |
26.392 |
13.207 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
85.843 |
119.476 |
89.455 |
|
|
|
|
|
|
|
Less |
TAX |
30.531 |
48.411 |
34.111 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
55.312 |
71.065 |
55.344 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
2.23 |
3.00 |
3.69 |
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 |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
363.517 |
(545.071) |
68.461 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
353.360 |
(547.127) |
8.405 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
70.33 |
81.24 |
76.16 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
5.19 |
4.49 |
4.79 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
83.02 |
64.67 |
69.91 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
5.49 |
15.90 |
9.29 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.32 |
1.64 |
1.02 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.68 |
0.55 |
0.64 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability /
Networth) |
1.23 |
0.40 |
0.17 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
2.14 |
2.45 |
3.06 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.19 |
0.23 |
0.32 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
4.01 |
5.36 |
5.00 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
2.25 |
2.18 |
1.75 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
2.60 |
3.42 |
2.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
10.56 |
15.21 |
13.97 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.43 |
1.62 |
1.39 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.41 |
1.61 |
1.37 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.25 |
0.22 |
0.21 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
2.58 |
0.75 |
0.33 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.43 |
1.62 |
1.39 |
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 |
196.500 |
250.000 |
250.000 |
|
Reserves & Surplus |
146.163 |
217.228 |
273.979 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
53.500 |
0.000 |
0.000 |
|
Net
worth |
396.163 |
467.228 |
523.979 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
321.706 |
|
Short term borrowings |
65.473 |
187.126 |
324.363 |
|
Total
borrowings |
65.473 |
187.126 |
646.069 |
|
Debt/Equity
ratio |
0.165 |
0.401 |
1.233 |
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 |
3168.937 |
3264.044 |
2457.440 |
|
|
|
3.001 |
(24.712) |
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 |
3168.937 |
3264.044 |
2457.440 |
|
Profit |
55.344 |
71.065 |
55.312 |
|
|
1.75
% |
2.18
% |
2.25
% |
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 |
No |
|
8] |
Designation of contact person |
No |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
No |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
No |
|
16] |
No. of employees |
No |
|
17] |
Details of sister concerns |
Yes |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
No |
|
21] |
Banking facility details |
No |
|
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 company domiciled in India and incorporated in July, 2010 under the provisions of the erstwhile Companies Act, 1956 and started operations from October, 2010. The company is engaged in the business of executing turnkey projects in the fields of Material handling plant, Coal handling plant, Ash handling plant, Alumina handling plant, Cement plant etc. and civil, Industrial and commercial construction projects.
BUSINESS PERFORMANCE
AND FUTURE OUTLOOK
Business Performance
The Company is engaged in the execution of projects of turnkey EPC contracts and item rate based Civil Construction contracts in the social, Industrial and Institutional categories both for Govt. and private sector customers.
The Company reported total revenue of INR 2457.440 Million. In order to limit the exposure to the group as a whole, Company's Bankers opted to exercise more caution in respect of the non-fund based BG facility and capped the disbursements at 60% of the sanctioned limits and raised the BG commission rate. Such restrictions and increase in the rate adversely affected the Company's business and also profitability. There is a drop in the revenue by 24% in the current fiscal. Despite the revenue fall, the Company was able to maintain the post-tax profit at 2.26% of the revenue in line with previous financial year 2015-16.
Industry Overview
The Year 2016-17 continued to be challenging for BILIL whereas India achieved 7.1%GDP growth as compared to 7.6%in previous year and was globally acknowledged as the world's fastest growing economy. Plethora of opportunities predominantly in Infrastructure, Rail, Road and Power and Renewable Energy had been visible. The Smart City Mission with assured budgetary support to create 100 Sm art Cities across India had also bolstered the optimism significantly.
In spite of strong signs of economic revival with higher consumer confidence, Industry and Infrastructure sector remained sluggish in general till 3rd quarter of FY 2016-17. Though the optimism started seeing light from middle of 3rd quarter with lot of construction tenders floating in infrastructure field and BILIL bidding for the qualifying ones within the restricted BG limits, new orders booked towards fag end of the year could hardly be converted into revenue for the FY 2016-17. However next financial year i.e. 2017-18 should reap the benefit of a healthy order book position and ongoing market recovery in real terms.
BUSINESS OUTLOOK
Stable and visionary Government, policy reforms, strong possibility of simplified Tax regime and continued efforts to improve Ease-of-doing-business have made India a bright spot in global investment map. Higher Govt. spending in key sectors such as Infrastructure, Rail, Road, Port, Power, robust FDI in Manufacturing and defence production will push up growth prospect tremendously.
On-going Policy reforms, divestment of PSU stakes, relaxed FDI norms to allow foreign players in Indian Infrastructure Sector and thrust towards clean Energy and Make-in-India initiative will create investment friendly environment and fuel growth momentum further. This will significantly drive demand in key Industry sectors like Cement, Steel, Mining and other Metals. Overall there will be high growth scenario in a wide spectrum of industries.
However there is possibility of Govt. funding target not being met. At the same time high debt levels of private Infrastructure players, cautious approach of Banks for new investment proposals and RBI's dictate to banks to be decisive and apply the newly enacted Insolvency and Bankruptcy Code, 2016 (IBC)framework against the erring defaulters with NPA accounts in addition to the traditional land acquisition issues may hold back the pace of private investments and could be potential growth decelerators
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long term
Borrowing |
|
|
|
Intercorporate deposits |
250.000 |
0.000 |
|
Other loans and advances |
71.706 |
0.000 |
|
Short term
Borrowing |
|
|
|
Other loans and advances |
166.235 |
0.000 |
|
Total |
487.941 |
0.000 |
INDEX
OF CHARGES
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
B97718357 |
10291878 |
PUNJAB NATIONAL BANK |
25/04/2011 |
12/02/2014 |
- |
2200000000.0 |
LARGE CORPORATE BRANCH 44, PARK STREET, KOLKATA-700016IN |
|
2 |
B88317417 |
10392670 |
ORIENTAL BANK OF COMMERCE |
13/12/2012 |
- |
31/10/2013 |
500000000.0 |
PARK STREET BRANCH,107/1, PARK STREET (1ST FLOOR) KOLKATA-700016IN |
FIXED ASSETS
- Furniture and
Fixture
- Computer
- Plant
Equipment
- Factory
Equipment
- Vehicle
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 68.26 |
|
|
1 |
INR 91.22 |
|
Euro |
1 |
INR 79.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHI |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
TRUP |
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 |
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.