MIRA
INFORM REPORT
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Report Date : |
17.10.2007 |
IDENTIFICATION DETAILS
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Name : |
SUPERTECH COOLING TOWERS PRIVATE LIMITED |
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Registered Office : |
52 Near Rajaram Tyre House, Village Satbadi, Mehrauli, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
11.09.1997 |
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Com. Reg. No.: |
55-36982 |
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CIN No.: [Company
Identification No.] |
U29192HR1997PTC036982 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS24243C |
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PAN No.: [Permanent
Account No.] |
AACCS2604R |
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Legal Form : |
Private limited Liability Company |
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Line of Business : |
Manufacturer of Cooling Towers
and Assembling Cooling Towers. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average/normal. |
Small |
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Maximum Credit Limit : |
USD 1564000 |
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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a small and unknown company. No payments are available. It can be considered for small to mediocre business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
52 Near Rajaram Tyre House, Village Satbadi, Mehrauli, |
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Administrative Office : |
75 Ashoka Enclave Main, Sector 34, |
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Tel. No.: |
91-129-2255493 / 2270375 |
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Mobile No: |
91-9810037905 |
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Fax No.: |
91-129-2255493 / 2270375 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Anil Kumar Sharma |
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Designation : |
Director |
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Address : |
75 Ashoka Enclave Main, Sector 34, |
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Date of Appointment : |
11.09.1997 |
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Name : |
Mr. Suman Sharma |
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Designation : |
Director |
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Address : |
75 Ashoka Enclave Main, Sector 34, |
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Date of Appointment : |
29.11.2003 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Anil Kumar Sharma |
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7440 |
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Navinder Jeet Grewal |
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2560 |
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Total
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10000 |
Equity Share Break – up (Percentage of Total Equity)
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Sr.
No. |
Category |
Percentage |
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1 |
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Cooling Towers
and Assembling Cooling Towers. |
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Products : |
·
FRP
Cooling Towers
·
Wooden
Cooling Towers
·
RCC
Cooling Towers
·
Ring
Type PVC Eliminator ·
Honeycomb
PVC Fill ·
Aluminum
Alloy Rotating Sprinkler ·
PVC
V-Bar ·
FRP Fans ·
Drive Shaft etc |
GENERAL INFORMATION
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No. of Employees : |
10 |
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Bankers : |
UCO Bank |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
G K Nigam and Associates Chartered Accountants |
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Address : |
EA-343, Maya Enclave, |
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Tel. No.: |
91-22-25120190 |
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Mobile No.: |
91-9811150059 |
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E-Mail : |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity shares |
Rs.10/- each |
Rs. 0.100 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity shares |
Rs.10/- each |
Rs. 0.100 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.291 |
0.229 |
0.195 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.391 |
0.329 |
0.295 |
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LOAN FUNDS |
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1] Secured Loans |
0.623 |
0.922 |
1.225 |
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2] Unsecured Loans |
0.188 |
0.292 |
0.391 |
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TOTAL BORROWING |
0.811 |
1.214 |
1.616 |
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DEFERRED TAX LIABILITIES |
0.029 |
0.052 |
0.076 |
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TOTAL |
1.231 |
1.595 |
1.987 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.083 |
1.171 |
1.241 |
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Capital work-in-progress |
1.187 |
0.871 |
0.818 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
2.302
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1.637 |
0.862 |
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Sundry Debtors |
0.611
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1.075 |
1.386 |
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Cash & Bank Balances |
0.309
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0.325 |
0.193 |
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Other Current Assets |
0.030
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0.039 |
0.072 |
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Loans & Advances |
0.100
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0.200 |
0.000 |
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Total
Current Assets |
3.352
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3.276 |
2.513 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
4.357
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3.721 |
2.586 |
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Provisions |
0.034
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0.003 |
0.000 |
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Total
Current Liabilities |
4.391
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3.724 |
2.586 |
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Net Current Assets |
[1.039]
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[0.448] |
[0.073] |
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MISCELLANEOUS EXPENSES |
0.000 |
0.001 |
0.001 |
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TOTAL |
1.231 |
1.595 |
1.987 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
9.979 |
9.696 |
9.851 |
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Other Income |
0.727 |
0.188 |
0.151 |
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Total Income |
10.706 |
9.884 |
10.002 |
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Profit/(Loss) Before Tax |
0.088 |
0.095 |
0.049 |
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Provision for Taxation |
0.026 |
0.032 |
0.010 |
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Profit/(Loss) After Tax |
0.062 |
0.063 |
0.039 |
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Expenditures : |
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Depreciation & Financial Charges |
0.121 |
0.089 |
0.065 |
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Other Expenditure |
10.376 |
9.611 |
9.823 |
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Total Expenditure |
10.497 |
9.700 |
9.888 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
0.57
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0.63 |
0.38 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.88
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0.97 |
0.00 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.56
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0.01 |
1.07 |
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Return on Investment (ROI) (PBT/Networth) |
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0.22
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0.28 |
0.16 |
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Debt Equity Ratio (Total Liability/Networth) |
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13.30
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15.00 |
14.24 |
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Current Ratio (Current Asset/Current Liability) |
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0.76
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0.87 |
0.97 |
LOCAL AGENCY FURTHER INFORMATION
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Name of the
company |
SUPERTECH COOLING TOWERS PRIVATE LIMITED |
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Presented
By |
Mr. Anil Sharma
(Director) |
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1) Date and description
of instrument creating the change |
Deed of
hypothecation dated 29.09.2004 of Demand cash Credit |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 1.000
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 present and
future stocks of Raw material, steel, iron Sheets, FRP, Good Working progress, finished Goods, |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
Margin 25% Interest : 8.5% p.a Subject to minimum of 13.5%p .a on monthly
basis |
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5) Name and Address
and description of the person entitled to the charge. |
UCO Bank Address: 16, |
WEBSITE DETAILS:
Subject in
Products
·
FRP
Cooling Towers
·
Wooden
Cooling Towers
·
RCC
Cooling Towers
·
Ring
Type PVC Eliminator
·
Honeycomb
PVC Fill
·
Aluminum
Alloy Rotating Sprinkler
·
PVC
V-Bar
·
FRP Fans
·
Drive
Shaft etc.
All components from this company like tower supports, motor supports, leg supports etc. are either hot dip galvanised or epoxy coated. Stainless Steel or Phosphor Bronze hardwares can be supplied on request at extra cost.
Strentgh
Besides manufacturing, the professional team and experts excel in erection,
modification, inspection and renovation of all types of cooling towers. They
are the innovator in modification and renovation of old and idle cooling tower
with money back guarantee for increasing efficiency to maximum level.
Clients
The products manufactured at their unit are widely used in Steel Making Plant, Solvent Extraction Plant,
Chemical Plant, Fertilizer Plant, H.V.A.C.R. Establishment, Generator Cooling
Hotel, Embassy and Textile Plant.
Quality
Their products are checked and tested thoroughly to meet the Quality
Standards. We always strive to improve the quality of their products and
emphasize on quality assurance and timely delivery.
Subject operates with the policy of continuous improvement and aims at
achieving total customer satisfaction.
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
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Indian Rupees |
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US Dollar |
1 |
Rs.39.47 |
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1 |
Rs.80.59 |
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Euro |
1 |
Rs.56.18 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
--- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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28 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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