MIRA
INFORM REPORT
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Report Date : |
24.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
RDC CONCRETE INDIA LIMITED |
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Formerly Known As : |
UNITECH PREFAB LIMITED |
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Registered Office : |
3rd Floor, Sigma , C / 8, Road No. 22, MIDC Andheri (East),
Mumbai – 400 093, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
20.04.1993 |
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Com. Reg. No.: |
11-172842 |
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CIN No.: [Company
Identification No.] |
U74999MH1993PTC172842 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMR22552F |
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PAN No.: [Permanent
Account No.] |
AAACU0108Q |
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Legal Form : |
A closely held Public Limited Liability Company |
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Line of Business : |
Manufacturer and Suppliers of Ready Mixed Concrete. |
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. |
Small |
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Maximum Credit Limit : |
USD 1400000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The company
profit margin is under severe pressure. It has substantial accumulated
losses. Its payment are reported as slow but correct. The company can be considered normal for business dealings at usual
trade terms and conditions with slight caution. Due to weekly off, management could not be contacted however courier
request letter for information we shall continue to pursue for more
information. |
LOCATIONS
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Registered Office/ Head Office : |
3rd Floor, Sigma , C / 8, Road No. 22, MIDC Andheri (East),
Mumbai – 400 093, Maharashtra, India |
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Tel. No.: |
91-22-66910055 |
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Fax No.: |
91-22-66910057 / - 6691 0057/8 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Corporate Office: |
6 Community Centre Saket New Delhi – 110 017, India |
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Tel. No.: |
91-11-26966507 |
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Fax No.: |
91-11-26862954 |
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E-Mail : |
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Factory : |
RDC Concrete National Capital
Region (NCR) Plant 1 Behrampur Road, Khandsa, Gurgaon 122 001. Telephone No. : 0124 - 221 5557/9 / 221 5898, 403 6584 Fax No. : 0124 – 2215558 Plant 2 Near South City Country Club, Gurgaon 122 002. Telephone No. : 0124 - 652 3926 Plant 3 Plot No. GH 8, Sector Pie -2, Greater Noida 201 308. Telephone: 0120 - 324 2029 Plant 4 Plot # B-2, Sector - 62, Unitech IT Park, Near Khora Village RDC Concrete Kolkata Plant 1 Block DH, Plot no. 01, Street 316, New Town, Rajarhat, Telephone No. : 033 - 6450 1019 / 21 / 22 Fax No. : 033 - 2337 8177 Plant 2 Uniworld City, Block I, Action area 4, New Town, Rajarhat, RDC Concrete Hyderabad Plant 1 Plot No 8/A, Survey No. 334 to 337, Sri Venkateshwra Industrial Co-operative
Society, IDA Bachupally, Rangareddy District, Telephone No. : 040 - 2304 2912/3 Fax No. : 040 - 2304 2914 Plant 2 Survey No. 518, Plot No. 15, Kistapur Village, RDC Concrete Pune Plant 1 Ramtekdi Industrial Estate, Survey No. 107, Plot No. 5, Hissa No. 2B,
Hadapsar, Pune 411 013. Telephone No. : 020 - 2682 1792, 2682 1834, 3254 8239 Fax No. : 020 - 2682 0497 Plant 2 Gut / Plot No – 407, RDC Concrete Visakapattanam Plot No. 98C, Block D, Auto Nagar, Visakapattanam 500 012. RDC Concrete Bangalore Plant 1: 37B, Doddanekkundi Industrial Area, 1st Phase, Whitefield Road,
Bangalore 560 048. Plant 2: S. No. 149/1, Kumbalagodu, Kengeri Hobli, Mysore Road, Bangalore 560
074 Plant 3: Plot No. 31 – B , II Cross, Veerasandra Industrial Area, RDC Concrete Chennai Plant 1: Plot No. 2 / 129, S. No. 55/4d1 Avdi Road, Senneerkuppam, Poonamallee
Taluk, Thiruvallur District, Chennai 600 056 Plant 2: Survey No. 45/4 Door No. 1/31,Vandalur Kelambakkam Road, Plant 3: S.No. 195/4 and No. 124, Sandhiamman Koil Street, RDC Concrete Indore No. 26 / 2, Survey Nos. 75 / 1-5 A. B. Road, Village Rao Khedi,
Sanwer, Indore. RDC Concrete Navi Mumbai Plant 1: L - 75/76/77, Plot No. 2, MIDC, Taloja, Dist Raigad 410 208. Telephone No. : 022 - 2741 0164 / 2741 0620 Fax No. : 022 - 2741 0622 RDC Concrete Kerala Neptune Readymix Concrete
Pvt. Ltd Plant 1: Plot No.Vl/58 & 59, Industrial Development Area, Edayar, Telephone No. : 0484 - 255 0530, 255 0590 Fax Nos. : 0484 - 255 1460 Plant 2: Blg. No. 1/575K, Opposite Peninsular Honda, Maradu P O, Telephone No. : 0484 - 230 6559, 550 4447 Plant 3: Wipro Info Park, Kusumagiri P O, Kakanad, Cochin 682 030. Telephone No. : 0484 - 645 4442, 645 4447 Plant 4: Plot No. 191/1P & 8P, Industrial Development Area, Mundoor PO,
Thrissur 680 541 RDC Concrete Jaipur Plant 1: Plot No. 41 ( A ), 1, Industrial area, |
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Branches: |
#63, S.Fno. 256 & 258, Kanampalayam, Trichy Road, Paladam Taluk, Coimbatore:
641 402, India |
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Tel No.: |
91-462 - 2680824/25 |
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Fax No.: |
91-462 - 2680826 |
DIRECTORS
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Name : |
Mr. Uday Shankar |
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Designation : |
Director |
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Address : |
704, Sovereign Hiranandani Gardens, Powai, Mumbai – 400 076,
Maharashtra, India |
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Date of Birth/Age : |
20.11.1966 |
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Date of Appointment : |
29.09.2006 |
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E-Mail: |
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PAN NO.: |
AACPU0343C |
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Name : |
Mr. Sunil Thecknath Vasudevan |
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Designation : |
Director |
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Address : |
96, 2nd Cross Road, Block 5, Banashankari , 3rd
Stage, 3rd Phase, Bangalore – 560 085, India |
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Date of Birth/Age : |
03.03.1966 |
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Date of Appointment : |
01.11.2007 |
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Name : |
Mr. Chen Song Kim |
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Designation : |
Director |
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Address : |
10 Shubh Niketan Block – A4, New Delhi , India |
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Date of Birth/Age : |
22.03.1952 |
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Date of Appointment : |
29.10.2004 |
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Name : |
Mr. Teo Chew Nguan |
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Designation : |
Director |
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Address : |
50 Adni Ralty Road, Singapore |
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Date of Birth/Age : |
22.03.1952 |
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Date of Appointment : |
29.10.2004 |
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Name : |
Mr. Danny Goh Kok Hwa |
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Designation : |
Director |
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Address : |
6th Floor, Crerene Hopuse Chussee Port, Mauritius |
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Date of Birth/Age : |
09.10.1960 |
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Date of Appointment : |
29.10.2004 |
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Name : |
Mr, Sanjay Bahadur |
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Designation : |
Director |
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Address : |
10 Shubh Niketan Block – A4, New Delhi , India |
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Date of Birth/Age : |
09.11.1962 |
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Date of Appointment : |
29.10.2004 |
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Name : |
`Mr. Ramesh Chandra |
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Designation : |
Director |
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Address : |
C 421 Mayfair Garden, New Delhi , India |
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Date of Birth/Age : |
26.05.1939 |
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Date of Appointment : |
29.10.2004 |
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Name : |
Mr. Krishnan Rajani |
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Designation : |
Director |
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Address : |
Gobind Mahal 86 B Marine Drive , Mumbai , Maharashtra, India |
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Date of Birth/Age : |
18.06.1947 |
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Date of Appointment : |
29.10.2004 |
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Name : |
Mr. Rajendra Kumar Kothari |
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Designation : |
Secretary |
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Address : |
9 A/403, Nalanda Apna Ghar, Lokhandwala Complex, Andheri , Mumbai ,
Maharashtra, India |
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Date of Birth/Age : |
09.05.1963 |
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Name : |
`Mr. H O Seon Ahuan |
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Designation : |
Director |
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Address : |
Apt. Block 205 Jurong East Street 21 704-143, Singapore |
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Date of Birth/Age : |
12.05.1955 |
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Date of Appointment : |
09.05.2002 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders (as on
31.03.2007):- |
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No. of Shares |
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Mr. Sanjay Bahadur |
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20000 |
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RDC Concrete PTE Limited |
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980000 |
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Multitech Investment Limited |
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1500000 |
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Others |
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35 |
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Category (as on 31.03.2007):- |
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Percentage of
Holding |
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Venture Capital |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Suppliers of Ready Mixed Concrete. |
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Products : |
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Terms : |
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Selling : |
Credit (30 days-60 days) |
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Purchasing : |
Credit (30 days-60 days) |
GENERAL
INFORMATION
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No. of Employees : |
700 |
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Bankers : |
· The Development Bank of Singapore Limited Address: No. 122, 12th
Floor, Maker Chambers –IV, Nariman
Point, Mumbai – 400 001, Maharashtra, India · HDFC Bank Limited Address: B -6-3 Safdarjung Enclave, DDA Commercial complex, Deer park,
New Delhi – 110 029, India |
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Banking
Relations : |
--- |
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Financial Institutions : |
Srei Infrastructure Finance Limited Address: Vishwakarma , 86 C, Topsia Road (South), Kolkata – 700 046,
West Bengal, India |
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Auditors : |
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Name : |
Goel Garg and Company Chartered Accountants |
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Address : |
102, E – 588 Greater Kailash II, New Delhi – 110 048, India |
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Name : |
S R Batliboi and Associates Chartered Accountants |
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Address : |
6th Floor, Express Tower Nariman Point, Mumbai – 400 021,
Maharashtra, India |
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Holding Company: |
IVF Mauritius Limited |
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Associates/Subsidiaries : |
Neptune Ready Mix Concrete Private Limited {CIN: U26921KL2002PTC015427} |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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15000000 |
Equity shares |
Rs. 10/- each |
Rs. 150.000 millions |
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30000000 |
Preference shares |
Rs. 10/- each |
Rs. 300.000 millions |
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Total |
Rs.450.000 millions
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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8549783 |
Equity shares |
Rs. 10/-
each |
Rs.85.497 millions |
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23178910 |
Preference shares |
Rs. 10/-
each |
Rs.231.789
millions |
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Total |
Rs.317.286 millions |
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 |
317.286 |
181.994 |
109.953 |
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2] Share Application Money |
0.00 |
0.000 |
0.000 |
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3] Reserves & Surplus |
154.628 |
56.250 |
56.171 |
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4] (Accumulated Losses) |
[135.827] |
[65.075] |
[8.416] |
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NETWORTH |
336.087 |
173.169 |
157.708 |
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LOAN FUNDS |
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1] Secured Loans |
236.757 |
65.639 |
48.389 |
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2] Unsecured Loans |
0.000 |
9.604 |
36.282 |
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TOTAL BORROWING |
236.757 |
75.243 |
84.671 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
13.629 |
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TOTAL |
572.844 |
248.412 |
256.008 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
396.098 |
179.205 |
173.755 |
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Capital work-in-progress |
29.431 |
1.087 |
0.000 |
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INVESTMENT |
34.239 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
7.536 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
24.189
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19.092 |
16.363 |
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Sundry Debtors |
232.380
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115.119 |
146.343 |
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Cash & Bank Balances |
20.316
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3.833 |
18.996 |
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Other Current Assets |
0.590
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1.205 |
0.000 |
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Loans & Advances |
102.107
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50.355 |
44.259 |
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Total
Current Assets |
379.582
|
189.604 |
225.961 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
264.080
|
125.848 |
145.450 |
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Provisions |
2.426
|
3.172 |
5.507 |
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Total
Current Liabilities |
266.506
|
129.020 |
150.957 |
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Net Current Assets |
113.076
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60.584 |
75.004 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
7.249 |
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TOTAL |
572.844 |
248.412 |
256.008 |
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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 |
1039.061 |
720.324 |
771.716 |
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Other Income |
27.304 |
10.155 |
11.032 |
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Total Income |
1066.366 |
730.480 |
782.748 |
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Profit/(Loss) Before Tax |
[61.206] |
[71.294] |
30.421 |
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Provision for Taxation |
0.000 |
0.000 |
0.000 |
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Profit/(Loss) After Tax |
[61.206] |
[71.294] |
30.421 |
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Expenditures : |
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Raw Material Consumed |
775.394 |
493.241 |
484.910 |
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Consumption of stores and spares parts |
42.649 |
34.816 |
NA |
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Increase/(Decrease) in Finished Goods |
1.464 |
[0.729] |
NA |
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Salaries, Wages, Bonus, etc. |
42.725 |
26.952 |
7.839 |
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Managerial Remuneration |
2.383 |
1.483 |
NA |
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Payment to Auditors |
1.129 |
0.060 |
0.082 |
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Interest |
12.142 |
5.258 |
NA |
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Insurance Expenses |
1.069 |
0.897 |
0.495 |
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Power & Fuel |
10.632 |
9.025 |
10.201 |
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Depreciation & Amortization |
62.317 |
21.949 |
16.892 |
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Other Expenditure |
175.668 |
208.818 |
231.908 |
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Total Expenditure |
1127.572 |
801.777 |
752.327 |
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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 |
(%) |
[5.74]
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[9.75] |
3.89 |
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Net Profit Margin (PBT/Sales) |
(%) |
[5.89]
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[9.89] |
3.94 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
[7.29]
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[18.88] |
7.61 |
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Return on Investment (ROI) (PBT/Networth) |
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[0.18]
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[0.41] |
0.19 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.50
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1.18 |
1.49 |
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Current Ratio (Current Asset/Current Liability) |
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1.42
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1.47 |
1.50 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:-
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Corporation identity number or foreign company registrations number of
the company |
U74999MH1993PTC172842 |
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Name of the company |
RDC CONCRETE
INDIA LIMITED |
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Address |
3rd Floor, Sigma , C / 8, Road No. 22, MIDC Andheri (East),
Mumbai – 400 093, Maharashtra, India |
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This Form is for |
Creation of charge |
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Type of Charges |
movable property |
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Particular of the charge holder
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CIN : L29219WB1985PLC055352 SREI Infrastructure Finance limited Address: Vishwakarma , 86 C , Topsia Road, (South), kolkata – 700 046,
West Bengal, India e-mail: secretarial@srei.com |
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Nature or description of the instrument creating charge |
Loan cum hypothecation agreement No. LAF018 (HL 0019809) |
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Date of the instrument creating charge |
01.04.2008 |
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Amount Secure by the charge |
Rs. 30.087 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest : Rs. 13.16 percent per annum Terms of repayment: Starting from 22.09.2008 and ending 22.08.2011 Margin: Rs. 3.976 millions Extent and operation of charge: In consideration of the grant of the loan by SREI Infrastructure
Finance Limited to the customer and
as security for the payments
repayment, reimbursement as the case
may be of the secured obligation the
customer hereby hypothecates and charges
into and in favour of SREI Infrastructure Finance Limited as and by way of first exclusive charge
the assets in a form satisfactory to SREI Infrastructure Finance limited upon
the terms and conditions specified in the attached loan cum hypothecation
agreement |
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Short Particulars of the Property charged |
No concrete batching plant model CT 1060.2 Nos. Stetter Batching Plant
Model M1, 2 Nos Aggregate conveyor 2
Nos Cement Pneumatic Conveyor system Nos. 200 KVA DG Set , 1 No. Belt
Conveyor System with r3evolving chute and 9 Nos. Cement SILO (With in India) |
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Corporation identity number or foreign company registrations number of
the company |
U74999DL1993PLC053138 |
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Name of the company |
RDC CONCRETE
INDIA LIMITED |
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Address |
United
House , 6 Community Centre, Saket , New Delhi - , India |
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This Form is for |
Creation of Charge |
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Type of Charges |
Hypothecation |
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Particular of the charge holder
|
HDFC Bank Limited Address: B -6-3 Safdarjung Enclave, DDA Commercial complex, Deer park,
New Delhi – 110 029, India |
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Nature or description of the instrument creating charge |
Letter of hypothecation of stocks, book debts and machinery |
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Date of the instrument creating charge |
12.01.2006 |
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Amount Secure by the charge |
Rs. 100.000 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
The goods debts and machinery stated above shall be the continuing
security for the due repayment by the borrower to the bank at any time on
demand. The borrower shall at all times during the continuance of this
security maintain the said goods , debts and machinery of a sufficient quantity
and value (as estimated by the bank) so as to provide the margin of
security as may from time to time be advised by the bank to the borrower. |
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Description of the property charge whether it is a charge on |
· Immovable Properties · Stock In Trade · Plant And Machinery · Book Debts |
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Particulars of the Property charged
|
All the stock in trade both present and future consisting of raw materials
, finished goods , good in process of manufacturing and consumables stores and spares other merchandises whatsoever
being movables properties now or at
any time from time to time
hereafter stored or to be
stored or brought into or upon or in
course of transit to our factory or premises or At any other place whatsoever and wheresoever in our possession or occupation or at any other
premises or place All the book debts outstanding
monies receivables ;claims and bills which are now due owing or which
may at any time hereafter during the continuance of this security
become due owing to the course of its
business by any person , firm company
or body corporate or by the
government body or authority or any
body corporate or undertaking or
project whatever in the public
sector. All the movable plant and machinery
both present and future
consisting of production testing and packing machinery being movable properties now stored at or being stored or which may hereafter be brought in to sorted at or any which
may hereafter be brought into or
stored at or at present installed at
any / all the company factories / production
facilities / godowns / warehouses
and also the plant and
machinery which may at any time
hereafter belonging to us or at our disposal and now or at any time
hereafter stored or be stored or brought into or upon or in courses of transit or awaiting transit by any mode of
transport to or factory or premises or at any other place whatsoever and
wheresoever in possession or occupation or at any other premises or place. |
WEBSITE DETAILS:
The company manufactures and supplies ready mixed concrete for construction
companies, real estate developers, contractors, and individuals in India.
It offers ready mixed concrete; various special concretes, such as high
performance, self compacting, fiber reinforced, colored, and heavy density
concrete; and paver blocks, including interlocking concrete paver blocks to
areas, such as gardens, walkways, and grounds. The company also provides
technical services, which include ordering ready mixed concrete, shuttering and
centering formwork, and reinforcement, as well as placing, compaction, and
curing of concrete; and transport and pumping services.
Subject is one of the largest standalone ready mixed concrete companies
in India. The company began its operations in 1993, and became a pioneer in the
ready mixed concrete business in India.
Its portfolio of customers includes construction companies, real estate
developers, contractors and individuals. Be it need based requirements or
innovative and cost-effective building solutions, subject has the capability to
meet them with excellent quality and service standards that sets it apart from
the competition. Over the years, the company's fully equipped laboratories and
state-of-the-art automatic and fully computerized batching plants have produced
and supplied quality products to the customers.
Over the years, subject has established a reputation for being able to
deliver cost-effective and innovative building solutions to meet a variety of
requirements. Among the first to recognize the constantly evolving nature of
the industry, subject has consistently invested in building and maintaining
state-of-the-art R and D, manufacturing and quality control infrastructure. It
is this focus on quality and innovation that has enabled subject to build a
client base that includes some of the most respected names from the Indian
building and construction sector.
Having captured a significant share of the market in many parts of
India, subject is now spreading its network to other locations in India to
serve the requirements of the rapidly growing Indian construction industry.
Management
At the helm of the company is a hand-picked management team that has a
holistic understanding of the ready mixed concrete industry. Each member of the
management team has experience of over a decade in a leadership role in leading
ready mixed concrete and/or construction organizations and brings to the table
a unique blend of skills that will help RDC achieve its goal of being a
significant force in the ready mixed concrete industry.
At subject, ready mixed concrete is produced in its fully automated and
computerized concrete batching plants at multiple locations across India. The
company manufactures and supplies concrete mixes, which are designed in its
well-equipped laboratories as per established procedures to comply with various
provisions of Indian Standards.
Apart from concrete mixes of various grades, subject also produces
special concretes such as:
· High Performance Concrete
· Self Compacting Concrete (SCC)
· Fiber Reinforced Concrete (FRC))
· Colored Concrete
· Heavy Density Concrete
Benefits of ready mixed concrete over Site
Mixed Concrete
Quality
· RMC produced from fully automated batching plants guarantees quality since:
· The raw materials are subject to stringent quality and quantity measures.
· The concrete is subject to quality control throughout the manufacturing and delivery process.
Diversity of solutions
A wide variety of ready mixed concrete can be produced, with ease and on
demand, by varying the proportions/combinations of the cement, aggregates and
admixtures.
Service
Ready mixed concrete provides customers with unique service quality due
to:
· The availability of a large number of concrete mixer trucks which enable delivery rates to be kept under control.
· Supply of special services for difficult worksites like pumps, conveyors, etc.
· The ability to adapt the pace of deliveries to the customer´s needs.
Cost-effectiveness
Ready mixed concrete is more cost effective because:
· Basic materials are now not stored on site and this reduces the need for storage space.
· Plant and machinery for mixing concrete are not required.
· Wastage of basic materials is avoided.
· Labor associated with production of concrete is reduced.
· Time required for the entire process is greatly reduced.
Lower Pollution
The use of RMC reduces air pollution in and around the worksite as the
mixing is done at the plant.
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.42.84 |
|
UK Pound |
1 |
Rs.84.78 |
|
Euro |
1 |
Rs.67.32 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
--- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
33 |
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. |
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 |
|