MIRA
INFORM REPORT
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Report Date : |
13.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
SRINIVAS FINE ARTS PRIVATE LIMITED |
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Registered Office : |
118/2, Velayutham Road, Sivakasi – 626123, Tamil Nadu |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
04.10.1990 |
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Com. Reg. No.: |
18-19730 |
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CIN No.: [Company
Identification No.] |
U2219TN1990PTC019730 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MRIS01685F |
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PAN No.: [Permanent
Account No.] |
AACFS5678N |
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Legal Form : |
Private limited liability company |
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Line of Business : |
Manufacturers, Traders, Importers, Exporters and Sellers of Printed Books, Stationery Items, Notebooks, Diaries, Calendars, Paper Products, etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1500000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having fine track. Directors are reported as experienced, respectable and resourceful businessmen. Their trade relations are fair. Financial position is good. Business is active. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered/ Corporate Office/ Factory : |
118/2, Velayutham Road, Sivakasi – 626123, Tamil Nadu, India |
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Tel. No.: |
91-4562-226588/221588 |
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Telegram : |
GRAPHPRINT SIVAKASI 626123 INDIA |
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Fax No.: |
91-4562-227931 |
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E-Mail : |
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Website : |
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Area : |
Owned |
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Location : |
24,000 sq.fts. |
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Product Development & Research Centre : |
Rain Tree Place, 1st Floor, 7,
Mc Nichols Road, Chetpet, Chennai - 600 031, India. |
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Tel. No.: |
91 44 2836 3014 / 3090 0759 |
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Fax No.: |
91 44 4213 8804 |
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E-Mail : |
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Branches : |
Indian
Sales Enquiries CHENNAI
MUMBAI COIMBATORE COCHIN PUNE,
MAHARASHTRA & GOA EMail : nirmal@sfa.co.in BANGALORE HYDERABAD NEW
DELHI KOLKATA European
Sales Enquiries
North
American Sales Enquiries Manisundar Canada
Sales Enquiries
Australia
Enquiries
East
Africa Sales Enquiries Tony Joseph Mobile: 00 254 7272 33085 South
Africa Sales Enquiries Executive Link Africa, Plot
20598, Unit 4, Block , Mabutswe Road, Broadhurst Industrial, P.O. Box 80997,
Gabarone, Botswana. Email: manisundar@sfa.co.in, henly@sfa.co.in Sri
Lankan Sales Enquiries Sriniwaas Middle
East Sales Enquiries Hemant Sheth Malaysia
/ Singapore Sales Enquiries
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DIRECTORS
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Name : |
Mr. R. Vivekanandhan |
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Designation : |
Chairman |
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Date of Birth/Age : |
28.05.1934 |
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Qualification : |
B.Sc. |
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Experience : |
38 Years |
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Name : |
Mr. R. Chockaligam |
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Designation : |
Managing Director |
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Date of Birth/Age : |
04.01.1939 |
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Qualification : |
Preuniversity |
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Experience : |
38 Years |
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Name : |
Mr. R. Velayutham |
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Designation : |
Director |
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Date of Birth/Age : |
04.12.1940 |
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Qualification : |
Preuniversity |
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Experience : |
38 Years |
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Name : |
Mr. R. Dharmaraj |
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Designation : |
Director |
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Date of Birth/Age : |
06.02.1944 |
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Qualification : |
Preuniversity |
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Experience : |
38 Years |
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Date of Appointment : |
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Name : |
Mr. R. Viswanathan |
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Designation : |
Director |
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Date of Birth/Age : |
04.05.1946 |
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Qualification : |
Preuniversity |
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Experience : |
38 Years |
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Date of Appointment : |
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Name : |
Mr. R. Rajendran |
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Designation : |
Director |
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Date of Birth/Age : |
12.04.1948 |
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Qualification : |
B.E. |
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Experience : |
33 Years |
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Date of Appointment : |
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Name : |
Mr. C. Rajesh Sivamurugan |
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Designation : |
Director |
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Address : |
234G, Gnanagiri Road, Sivakasi, Tamilnadu |
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Date of Birth/Age : |
04.08.1964 |
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Qualification : |
B.E. |
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Experience : |
17 Years |
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Name : |
Mr. V. Srinivas |
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Designation : |
Director |
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Address : |
234F, Gnanagiri Road, Sivakasi, Tamilnadu |
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Date of Birth/Age : |
31 Years |
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Qualification : |
M.B.A |
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Experience : |
8 Years |
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Name : |
Mr. V. Ganesh Kumar |
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Designation : |
Director |
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Address : |
324H, Gnanagiri Road, Sivakasi, Tamilnadu |
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Date of Birth/Age : |
29 Years |
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Qualification : |
B.B.M. |
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Experience : |
8 Years |
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Name : |
Mr. R. Sridhar |
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Designation : |
Director |
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Address : |
259A, Gnanagiri Road, Sivakasi, Tamilnadu |
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Date of Birth/Age : |
27 Years |
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Qualification : |
B.E. |
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Experience : |
5 Years |
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Name : |
Mr. C. Jagdish Kumar |
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Designation : |
Director |
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Address : |
234G, Gnanagiri Road, Sivakasi, Tamilnadu |
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Date of Birth/Age : |
09.05.1975 |
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Qualification : |
B. Tech. |
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Experience : |
5 Years |
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Name : |
Mr. C. S. Moorthy |
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Designation : |
Director |
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Address : |
45 Years |
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Date of Birth/Age : |
M.Com., F.C.A |
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Qualification : |
24 Years |
KEY EXECUTIVES
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Name : |
Mr. V. Veera Badran |
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Designation : |
Account Manager (Finance) |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Mr. R. Vivekanandhan |
18640 |
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Mr. R. Chockalingam |
18640 |
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Mr. R. Velayutham |
21500 |
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Mr. R. Viswanathan |
17640 |
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Mr. R. Rajendran |
18640 |
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Mr. R. Murugesan |
18390 |
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Mr. C. Rajesh Sivamurugan |
5350 |
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Mrs. R. Meenakshithai |
6500 |
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Mr. R. Veivekanandhan (B. HUF) |
500 |
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Mr. R. Vivekanandhan (B.HUF) |
350 |
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Mr. R. Chocklingam (B. HUF) |
500 |
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Mr. R. Chocklingam (S. HUF) |
350 |
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Mr. R. Velayutham (HUF) |
500 |
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Mr. R. Viswanathan (B. HUF) |
500 |
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Mr. R. Viswanathan (S. HUF) |
1350 |
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Mr. R. Rajendran (B. HUF) |
500 |
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Mr. R. Rajendran (S. HUF) |
350 |
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Mr. R. Murgesan (HUF) |
500 |
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Mrs. V. Surya Prabha |
6500 |
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Mrs. V. Dhanalakshmi |
5900 |
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Mrs. R. Vasugidevi |
5900 |
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Mrs. M. Sakuntala |
5900 |
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Mr. V. Ganesh Kumar |
6500 |
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Mr. V. Ganesh Kumar (HUF) |
1000 |
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Mr. C. Rajesh Sivamurugan (HUF) |
5350 |
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Mr. R. Meenakshi |
7500 |
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Mr. C. Jagdish Kumar |
6500 |
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Mr. C. Jagdish Kumar (HUF) |
1000 |
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Mr. V. Srinivas |
5800 |
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Mr. V. Srinivas (HUF) |
1600 |
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Mr. V. Arun Prakash |
3250 |
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Mr. R. Sridhar |
6680 |
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Mr. R. Sridhar (HUF) |
1000 |
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Mr. M. Ramkumar |
3250 |
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Mr. R.M. Jai Ganesh |
4770 |
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Image House Exports Private Limited |
16000 |
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Total |
250000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, Traders, Importers, Exporters and Sellers of Printed Books, Stationery Items, Notebooks, Diaries, Calendars, Paper Products, etc. |
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Products : |
Generic Names of Principal Products/ Services of the company are as under:-
Its’ products range includes:-
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Brand Names : |
“Nightingale” |
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Agencies Held : |
Agencies held by the company includes :- v Relic Marketing, Coimbatore v Shreeji Graphics, Mumbai, Maharashtra v Sree Agencies, Bangalore, Karnataka v Sri Vinayaga Enterprises, Bangalore, Karnataka |
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Exports : |
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Products : |
Printed books |
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Countries : |
Belgium, Sweden, Norway, Germany, UK, Holland, Maldives, Australia and USA. |
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Imports : |
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Products : |
Raw materials, machinery, spares etc. |
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Countries : |
Indonesia, Taiwan, USA, Holland, Belgium, Germany, Sweden
and Singapore |
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Terms : |
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Selling : |
Cash or Credit terms |
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Purchasing : |
L/C, Cash or Credit terms |
PRODUCTION STATUS
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Particulars |
Unit |
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Installed
Capacity |
Actual
Production |
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Printed Paper Products |
MT |
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15,000 |
10,800 |
GENERAL
INFORMATION
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Suppliers : |
Its major suppliers include:- · AGFA Gaevart N.V., Belgium · Demcopack Davisn V., Belgium · BN International B. V., Holland
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Customers : |
wholesalers and retailers Its’ major customers include:- Digypress Private Limited, Bangalore, Karnataka, India |
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No. of Employees : |
760 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
B. B. Naidu & Company Chartered Accountants |
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Address : |
No. 5, Gajapathy Road, Kilpauk, Chennai – 600 010, Tamilnadu |
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Tel. No.: |
91-44-26411061/26411283 |
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Fax No.: |
91-44-26412575 |
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E-Mail : |
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Associates/Subsidiaries : |
· Rose Flower Company (Papers) Private Limited 35-O, Velayutham Road, Sivakasi – 626 123, Tamilnadu --Trading in Paper & Board · Silver Spring (India) Private Limited 118/2, Velayutham Road, Sivakasi, Tamilnadu --Textile and Spinning
138, Kodihalli, Airport road, 5th Floor, Maruthi Towers, Bangalore – 560 058, Karnataka --Digital Printing
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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47000 |
Equity Shares |
Rs.1000/- each |
Rs.47.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs.1000/-
each |
Rs.25.000
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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25.000 |
25.000 |
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2] Share Application Money |
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0.435 |
0.435 |
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3] Reserves & Surplus |
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381.884 |
326.069 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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407.319 |
351.504 |
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LOAN FUNDS |
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1] Secured Loans |
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41.213 |
132.477 |
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2] Unsecured Loans |
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6.249 |
10.836 |
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TOTAL BORROWING |
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47.462 |
143.313 |
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DEFERRED TAX LIABILITIES |
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26.591 |
27.208 |
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TOTAL |
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481.372 |
522.025 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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199.536 |
203.019 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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69.397 |
65.353 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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124.040 |
136.587 |
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Sundry Debtors |
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88.711 |
90.494 |
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Cash & Bank Balances |
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35.599 |
46.165 |
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Other Current Assets |
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10.491 |
9.588 |
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Loans & Advances |
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52.276 |
43.250 |
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Total
Current Assets |
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311.117 |
326.084 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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51.712 |
36.462 |
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Provisions |
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46.997 |
36.000 |
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Total
Current Liabilities |
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98.709 |
72.462 |
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Net Current Assets |
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212.408 |
253.622 |
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MISCELLANEOUS EXPENSES |
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0.031 |
0.031 |
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TOTAL |
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481.372 |
522.025 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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NA |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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NA |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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NA |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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0.36 |
0.61 |
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Current Ratio (Current Asset/Current Liability) |
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3.15 |
4.50 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 Particular for creation or modification of charges
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Name of the company |
SRINIVAS FINE ARTS PRIVATE LIMITED |
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Presented By |
Mr.
C. Jagdish Kumar |
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1) Date and description of instrument creating the change |
Form No.: K dated 20.05.1994 Form No.: C dated 20.05.1994 Of the State Bank of India, Sivakasi |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.8.500 millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All stocks of raw materials, Indigenous and imported, semi finished goods, finished goods, stores, tools, spares, receivables, biolls for collection, book debts present and future and all machinery installed in company premises valued at 135 millions Extension of Equitable mortgage over factory land and buildings belonging to the company at Door No.: 80 1A, 1B, 1C, Sattur Road, Sivakasi. Land and building at Plot No.2A and 3 Attibele Industrial Area, Bangalore Factory Building at S. No.81/1, 81/2, Velayutham Road, Sivakasi. Factory building at Door No.35P, Q, R,S, T Velayutham Road, Sivakasi. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
As per agreements in Form No. K and C dated 20.05.1994 |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of India Velayutham Road, Sivakasi |
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6) Date and brief description of instrument modifying the charge |
Form No.C2A-Supplkemental agreement of hypothecation of goods and assets for increase in the overall limits dated 24.03.2005 Form No.C5-Letter regarding the grant of |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Enhancement in credit facilities form Rs.24.270 millions to Rs.308.000 millions as under : (Rs. in millions)
All existing charges over the assets of the company continue to hold good in addition the machinery installed or to be installed in future by the company are also charged in favour of State Bank of India. Sivakasi Further the charge over the existing immovable properties mentioned din 3 stands extended to enhanced limit of Rs.308 millions. The details of which are given hereunder with S. No. and extent for better clarity. Factory Land and Building at D.No.80-1A, 80-1B and 80-1C, Sattur Road, Sivakasi, Area 28 Cents. T.S. No.66, Block No.20, T.S. Ward D Land and Building at Plot 2-A and 3 Attibele Industrial Area, Bangalore-Area 2 Hectares 3559 Sq. mtrs. S.No.38 and 63 in Balagarandahalli, S.No.101 and 104 in Ichnagar Village and in S.No.43 and 44 in Krishnanagar Village, Hubli, Attibele Taluk Factory Building at S. No.81/1, 81/2, Velayutham Road, Sivakasi, Area 231 Acres, T.S. No.4, Block No.6, Ward No.C Factory Building at Door No.35-P,Q,R,S,T Velayutham Road, Sivakasi. |
HISTORY
Subject was incorporated on 4th October 1990 at Sivakasi in
Tamilnadu having Company Registration Number 19730.
Subject has taken over the partnership firm under the name and style of
‘Srinivas Fine Arts’ established during 1964 by same management.
During 1998–99 the subject was converted into closely held public
limited liability Company.
Later the company was converted into a private limited liability
company.
BUSINESS
Subject is engaged in manufacturing, exporting, importing and selling of
Printed Books, Various kinds of Printed Stationery Items, Paper Products such
as Diaries, Note Books, Address Books, Calendars, etc.
It is in trade terms with :-
- Peter Haddock
Limited, UK
- Robert
Fredrick Limited, UK
- Charles Letts
& Company, UK
- Sappi Papier
Holding AG., Singapore
- ITC
Badrachalam Paper and Boards Limited
- 106, Sardar
Patel Road, Secunderabad – 500 003, Andhra Pradesh
Profiles
- The company
has received CAPEXIL award consequently for the fifth year.
- The company
has opened Global Marketing office at Chennai.
- Consequent
upon amendments in Companies Act, the company’s name was restored to the
original status of a Private Limited Company during the year.
- The company
has registered the Nightingale brand in many European Countries.
- The company
has recently installed high tech foil Printing, Edge Gilding, Index
Cutting Machine, etc which enabled to produce high-end stationery
products.
- The company
has taken steps to the domestic marketing base by setting up a core
marketing team headed by Mr. Balasubramanian.
The company’s fixed assets of important value includes land &
building, plant & machinery, computer, furniture & fittings, vehicles
and wind mill.
Website Details :
The awards that
SFA has received through the ages
- Award for Excellence in Printing/Designing
(Books/Publication) at the 21st National Awards for Excellence in
Printing/Designing Ministry of Information and Broadcasting in 1980
- Excellence in Printing (Offset Charts) award
at the Exhibition of Printing and Allied Machinery, (PAMEX) and at the All
India Printers’ Conference and Exhibition, Chennai in 1981.
- At the 21st All India Printer’s Conference in
New Delhi in 1983, SFA again won an award for Excellence in Printing.
- The PAMEX 1987 Award for Children’s at the
23rd All India Printer’s Conference in Mumbai.
- KED Arts, Madurai presented SFA with an award
for Excellence in Printing.
- The Outstanding Offset Printers Award
(1989-1990) conferred by Sivakasi Kutty Japan Junior Chamber, Sivakasi.
- Printing Excellence Award at the Fifth World
Print Congress, New Delhi in 1993.
- The Trade and Technology Exposition Co(l) P.
Ltd.’s award for Excellence in Printing (Category: Top, Ten Rating: No.
1).
- SFA again received an award for Excellence in
Printing in 1996, given by Vision 2000, South Asia Print Congress, All
India Federation of Master Printer, New Delhi.
- The Fifth International Exhibition of Printing
and Allied Machinery, PAMEX, Bangalore awarded SFA with Excellence in
Printing in 1997.
- The National Institute of Mental Health and
Neuro-Science, Bangalore’s award for Excellence in Printing.
- The Indian Chamber of Commerce and Industry,
award for Best Export in 2003-2004.
- The Chemicals and Allied Products Export
Promotion Council (CAPEXIL), National awards for Excellence in Printing in
2005.
Besides awards,
SFA has been the recipient of numerous Merit Certificates.
- SFA received a Certificate of Merit for Export
Performance, recognized by the Chemicals and Allied Products Export
Promotion Council (CAPEXIL), New Delhi in1995 and 1997.
- SFA received first prize and certificate for
Excellence in Printing diaries by the PAMEX Institute of Printing
Technology, Bangalore in 1997.
- In 1998, SFA was again recognized for its Excellence
in Printing diaries by the National Award.
- In 1999 SFA won the II Prize in the categories
of Directories and Dictionaries, Diaries Pictorial and Diaries and
Executive.
- In the same year it received Certificate of
Merit III for Diaries and Children’s Books, and Certificate of Merit II
for Diary Pictorial.
- SFA received Certificate of Merit I for
Commercial Stationery and Letter Heads, Executive Diaries and Calendar and
Desk Calendar, also in 1999.
- In 1999-2000 CAPEXIL credited SFA with
Outstanding Export Performance in Printed Books.
- CAPEXIL’s Export Achievement for Books and
Stationery 1998-1999 and Printed Stationery Books 1997-1998 was given to
SFA.
- For the year 2000-2001 SFA was given CAPEXIL’s
Outstanding Export performance in respect of Printed Books Group.
Quality
& SHE
Quality
Policy
They SFAPL are committed to offer innovative paper products
solutions through continuous improvement of personnel, quality standards and
technology.
To achieve this goal, their objectives are as follows
- To identify the requirements of all their customers and provide
best services.
- To continuously train their employees to perform the tasks in a
systematic and Proactive manner to provide effective quality services.
- To continuously improve upon their quality systems and standards of
services.
- To continuously upgrade the technology and services at par with
emerging concepts to meet the needs of customer.
- To achieve Customer delight and committed delivery at affordable
cost.
SHE
POLICY
Safety
& Health Policy
They value, Safety, Health and Environmental Protection as a
Primary part of their operations. They will comply with all statutory
regulations and standards to provide adequate protection and safety to their
employees, customers, community and environment.
One of their main corporate objective is to maintain 0%
accident level at work permises. Their main focus is on safe working
Environment and provide safety systems and equipments to carry out operations.
Risk Management
Policy
SFA is keen in protecting the business from any risk by
covering various risk management procedures and programmes.
The risks that are likely to occur are identified and
emergency preparedness plans are formulated and practiced systematically.
They are committed to conserve their natural resources and
protect the environment by minimising waste generation and contamination of
air, water and land. Any residual waste will be disposed off in a safe and
environmentally friendly manner.
Environmental
Policy
They SFAPL dedicated to maintain safe working environment by
adopting safe working methods & procedures.
In particular, They are Committed,
- To comply with all statutory norms & regulations applicable for
Environmental Protection and other requirements to which the organization
subscribes.
- Observing World Environment Day.
- Green belt development.
- To dispose off any residual waste in an Environmentally Friendly
manner.
- To conserve Natural Resources.
- Insisting their supplier to maintain their plant as eco-friendly.
- To develop awareness at all levels (Employees, Customers &
Suppliers).
It also provides all kinds of services in pre-press and
design, printing, print finishing, and book binding. They always believe in
offering the best quality products and services to their customers.
Nightingale Paper Products
The Nightingale® brand (a premium range of paper products) has been specially
created with you in mind. It almost always meets with the specific
requirements, thereby forming a successful and long-running relationship. The
creativity and quality that is synonymous with Nightingale® is an essential
ingredient of all Nightingale products.
Its elegant and thoughtful design, on-the-move carry convenience, and appealing
looks make Nightingale® products a prized possession.
Nightingale® brand has been categorized into four segments: (Business, Social,
Educational, and Diaries) the object being to clearly delineate the unique
requirements of these segments so as to provide superior and relevant products.
Nightingale deals in a wide range of products. Its products can be categorized
under the following heads.
- Business
- Social
- Education
- Diaries
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No 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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.98 |
|
UK Pound |
1 |
Rs.85.59 |
|
Euro |
1 |
Rs.58.49 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|