MIRA
INFORM REPORT
|
Report Date : |
18.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
UNITED ENGINEERING SERVICES |
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Registered Office : |
A-01, Trimurti Apartment, Ground Floor, Ajmal Road, Vile Parle
(East), Mumbai – 400 057 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
December 1990 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AABPG0044M |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Consultancy and Contracting in Air-conditioning and Refrigeration
Systems |
RATING &
COMMENTS
|
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed concern having satisfactory
track. Trade relations are fair. Business is active. No complaints have been
heard against the subject from the market sources. The concern can be considered good for normal business dealings. It would be advisable to take adequate securities while dealing with
the subject. |
INFORMATION PARTED
BY
|
Name : |
Mr. Shridhar M. Gokhale |
|
Designation : |
Proprietor |
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Contact No.: |
91-9967051149 |
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Date : |
17.10.2008 |
LOCATIONS
|
Registered Office : |
A-01, Trimurti Apartment,
Ground Floor, Ajmal Road, Vile Parle (East), Mumbai – 400 057, India |
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Tel. No.: |
91-22-65708034 / 26116387 |
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Mobile No.: |
91-9967051149 |
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Fax No.: |
91-22-26116387 |
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E-Mail : |
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Website : |
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Area : |
135 sq. ft. [Owned] |
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Head Office : |
205, Neelkanth Commercial Centre, Sahar Road, Andheri [East], Mumbai –
400099 |
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Tel. No.: |
91-22-28257891 / 92 |
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E-Mail : |
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Area : |
244 sq. ft. [Owned] |
SOLE PROPRIETOR
|
Name : |
Mr. Shridhar M. Gokhale |
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Designation : |
Proprietor |
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Address : |
B – 2, Yashodhan CHS, Sant Janabai Marg, Vile Parle [East], Mumbai –
400057 |
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Date of Birth/Age : |
17.08.1957 [51 Years] |
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Qualification : |
B.Sc. |
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Experience : |
28 Years |
BUSINESS DETAILS
|
Line of Business : |
Consultancy and Contracting in Air-conditioning and Refrigeration
Systems |
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Products : |
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Agencies Held : |
JS Humidifiers plc. U.K. The Humidification Specialist |
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Terms : |
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Purchasing : |
Credit [60 days] |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
End
Users
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No. of Employees : |
5 [In Office : 2 and At Site : 3] |
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Bankers : |
Corporation Bank, Vile Parle [East], Mumbai HSBC, Andheri [East] |
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Facilities : |
From Corporation
Bank
From HSBC
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sonsale Saptarshi and Company Chartered Accountants |
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Address : |
Vishnu Krupa, Mahant Road, Vile Parle [East], Mumbai – 400057 |
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Tel. No.: |
91-22-26177638/39 |
CAPITAL STRUCTURE
AS ON 31.03.2008
Rs in Millions
|
Opening Balance |
0.910 |
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|
|
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Add : |
|
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Profit from
Business |
2.100 |
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FD Interest |
0.246 |
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Less : |
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Drawings |
1.243 |
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Advance Tax AY
2008-09 |
0.585 |
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TDS A.Y. 2007-08 |
0.005 |
|
TDS A.Y. 2008-09 |
0.197 |
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Total |
1.226 |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
1.226 |
0.852 |
0.192 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.226 |
0.852 |
0.192 |
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LOAN FUNDS |
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1] Secured Loans |
2.021 |
0.217 |
0.407 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
2.021 |
0.217 |
0.407 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
3.247 |
1.069 |
0.599 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.159 |
0.129 |
0.127 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
3.601 |
1.617 |
0.110 |
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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 |
0.945
|
0.000 |
0.039 |
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Sundry Debtors |
0.360
|
1.940 |
0.393 |
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Cash & Bank Balances |
0.001
|
0.336 |
0.007 |
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Other Current Assets |
0.162
|
0.290 |
0.073 |
|
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Loans & Advances |
0.000
|
0.000 |
0.000 |
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Total
Current Assets |
1.468
|
2.566 |
0.512 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
1.823
|
3.212 |
0.125 |
|
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Provisions |
0.158
|
0.031 |
0.025 |
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Total
Current Liabilities |
1.981
|
3.243 |
0.150 |
|
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Net Current Assets |
[0.513]
|
[0.677] |
0.362 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
3.247 |
1.069 |
0.599 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
14.037 |
11.766 |
2.862 |
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Other Income |
0.247 |
0.045 |
0.013 |
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Total Income |
14.284 |
11.811 |
2.875 |
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Profit/(Loss) Before Tax |
2.346 |
1.960 |
0.515 |
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Provision for Taxation |
0.701 |
0.564 |
0.073 |
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Profit/(Loss) After Tax |
1.645 |
1.396 |
0.442 |
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Expenditures : |
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Cost of Goods Sold |
10.111 |
8.680 |
1.818 |
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Administrative and Other Expenses |
1.155 |
0.699 |
0.332 |
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Manufacturing Expenses |
0.459 |
0.352 |
0.108 |
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Depreciation & Amortization |
0.060 |
0.059 |
0.075 |
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Interest |
0.153 |
0.036 |
0.027 |
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Other Expenditure |
0.000 |
0.025 |
0.000 |
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Total Expenditure |
11.938 |
9.851 |
2.360 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
11.52
|
11.82 |
15.37 |
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Net Profit Margin (PBT/Sales) |
(%) |
16.71
|
16.66 |
17.99 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
144.19
|
72.73 |
80.59 |
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Return on Investment (ROI) (PBT/Networth) |
|
1.91
|
2.30 |
2.68 |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.26
|
4.06 |
2.90 |
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Current Ratio (Current Asset/Current Liability) |
|
0.74
|
0.79 |
3.41 |
LOCAL AGENCY
FURTHER INFORMATION
Accounting Ratios
with Calculations as follows :
Rs in Millions
|
A] |
Gross Profit / Turnover |
3.470 / 14.038 |
24.72 % |
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B] |
Net Profit / Turnover |
2.100 / 14.038 |
14.96 % |
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C] |
Stock in trade / Turnover |
0.945 / 14.038 |
6.73 % |
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D] |
Material consumed / Finished Goods Produced |
10.109 / 14.038 |
72.01 % |
COMPUTATION
OF TOTAL INCOME
Rs. In Millions
|
Particulars |
Amount
|
Amount
|
Amount
|
|
|
|
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I. INCOME FROM
HOUSE PROPERTY |
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Self Occupied
House |
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|
1. Yashodhan Co-operative Society, Sant Janabai Road, Vile Parle
[East], Maharashtra – 400057 |
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Interest [Rs. 0.001] |
|
|
[0.001] |
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II. INCOME FROM
PROFIT / GAINS OF BUSINESS / PROGRESSION |
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Income from
Business / Profession |
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|
1. UNITED ENGINEERING SERVICES |
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|
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Net Profit [Loss] |
2.100 |
|
|
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Add : Disallowable and / Item Considered Separately |
|
|
|
|
Depreciation [considered separately] |
0.060 |
|
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Less : Allowable and / Item Considered Separately |
|
|
|
|
Depreciation |
0.060 |
|
|
|
|
|
0.210 |
|
|
|
|
|
0.210 |
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INCOME FROM
OTHER SOURCES |
|
|
|
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FD’s with Banks |
|
0.246 |
|
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Bank Interest / Interest on Bonds |
|
0.002 |
|
|
|
|
|
0.248 |
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|
|
|
|
|
GROSS TOTAL
INCOME |
|
|
2.347 |
|
|
|
|
|
|
DEDUCTION UNDER
CHAPTER VIA |
|
|
|
|
|
|
|
|
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Life Insurance Premium |
|
0.016 |
|
|
Instalment or Part Payment for Purchase or |
|
0.135 |
|
|
Construction of residential house Property for repayment of loans [Rs.
0.135] |
|
|
|
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Public Provident Fund |
|
0.070 |
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|
|
|
|
|
|
Deduction u/s 80C [Rs. 0.221 restricted to] |
|
|
0.100 |
|
|
|
|
|
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u/s 80 D Deduction in respect of medical |
|
|
|
|
Insurance Premia
Rs. 0.011 |
|
|
0.011 |
|
|
|
|
|
|
u/s 80G Deduction in respect of Medical |
|
|
|
|
|
|
|
|
|
Insurance Premia Rs. 0.007 |
|
0.004 |
0.015 |
|
|
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TOTAL INCOME |
|
|
2.232 |
|
|
|
|
|
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TAX ON TOTAL
INCOME |
|
|
0.619 |
|
|
|
|
|
|
Tax Payable |
|
|
0.619 |
|
Surcharge @ 10 % |
|
|
0.062 |
|
|
|
|
0.681 |
|
|
|
|
|
|
Education Cess @ 3 % |
|
|
0.020 |
|
|
|
|
|
|
|
|
|
|
|
Tax Payable +
Surcharge + Education Cess |
|
|
0.701 |
|
|
|
|
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|
Less : Advance
Tax Paid |
|
|
|
|
- 13/09/2007 : Drawn On :
Corporation Bank, Vile Parle [East]; Paid Into : Corporation Bank, Vile Parle
[East] [0350525]; Sr. No. : 00001 |
|
0.250 |
|
|
|
|
|
|
|
- 13/12/2007; Drawn On :
Corporation Bank, Vile Parle [East]; Paid Into : Corporation Bank, Vile Parle
[East] [0350525]; Sr. No. : 00036 |
|
0.175 |
|
|
|
|
|
|
|
- 13/03/2008; Drawn On : Corporation
Bank, Vile Parle [East]; Paid Into : Corporation Bank, Vile Parle [East]
[0350525]; Sr. No. : 00029 |
|
0.160 |
|
|
|
|
|
[0.585] |
|
|
|
|
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Less : Tax Deducted at Source |
|
|
|
|
u/s 194 A, 1 Certificate [s] |
|
0.024 |
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|
u/s 194C, 15 Certificate [s] |
|
0.150 |
|
|
u/s 194 J, 2 Certificate [s] |
|
0.025 |
0.199 |
|
|
|
|
|
|
Refund |
|
|
0.083 |
PERSONAL ASSETS OF
PROPRIETOR
Rs in Millions
|
Residential Flat |
5.600 |
|
Furniture |
0.300 |
|
PPF |
0.710 |
|
Jewellery |
0.200 |
|
LIC Policies [Surrender Value] |
0.362 |
|
Total |
7.172 |
INSURANCE DETAILS
|
Policy No. |
Validity |
Sum Assured |
Risk Covered |
|
130700/36/08/01/00000178 |
14.09.2007 to 14.09.2008 |
Rs. 0.168 Millions |
Workmen’s Compensation |
BALANCESHEET PROJECTIONS
(Rs.
In Millions)
|
Particulars |
2008-09 |
2009-10 |
2010-11 |
2011-12 |
2012-13 |
2013-14 |
2014-15 |
2015-16 |
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Projected |
|||||||
|
Proprietor’s Funds |
|
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|
|
|
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|
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|
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|
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|
Opening Balance |
1.222 |
2.594 |
2.950 |
3.441 |
3.987 |
4.613 |
5.298 |
6.174 |
|
Introduction During the year |
1.000 |
|
|
|
|
|
|
|
|
Add: Profit After Tax |
1.017 |
1.206 |
1.491 |
1.796 |
2.126 |
2.485 |
2.876 |
3.308 |
|
|
3.239 |
3.800 |
4.441 |
5.237 |
6.113 |
7.098 |
8.174 |
9.482 |
|
Less Withdrawals (Net) |
0.645 |
0.850 |
1.000 |
1.250 |
1.500 |
1.800 |
2.000 |
2.200 |
|
Closing Balance A |
2.594 |
2.950 |
3.441 |
3.987 |
4.613 |
5.298 |
6.174 |
7.282 |
|
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|
|
|
|
|
|
|
|
|
Owned Funds |
|
|
|
|
|
|
|
|
|
Borrowed Funds |
|
|
|
|
|
|
|
|
|
Loans From Friends |
1.000 |
1.000 |
0.800 |
0.600 |
0.400 |
0.200 |
0.000 |
0.000 |
|
Term Loan |
2.854 |
2.571 |
2.242 |
1.857 |
1.4058 |
0.884 |
0.273 |
0.000 |
|
Bank Overdraft |
1.500 |
1.500 |
1.500 |
1.500 |
1.500 |
1.500 |
1.500 |
1.500 |
|
B |
5.354 |
5.071 |
4.542 |
3.957 |
3.308 |
2.584 |
1.773 |
1.500 |
|
Total A+B |
7.948 |
8.021 |
7.983 |
7.944 |
7.921 |
7.882 |
7.947 |
8.782 |
|
|
|
|
|
|
|
|
|
|
|
Fixed Assets |
|
|
|
|
|
|
|
|
|
Gross |
7.600 |
7.600 |
7.600 |
7.600 |
7.600 |
7.600 |
7.600 |
7.600 |
|
Less: Depreciation |
0.944 |
1.669 |
2.327 |
2.926 |
3.471 |
3.967 |
4.420 |
4.812 |
|
NET |
6.656 |
5.931 |
5.273 |
4.674 |
4.129 |
3.633 |
3.180 |
2.788 |
|
Working Capital |
1.292 |
2.090 |
2.710 |
3.270 |
3.792 |
4.249 |
4.767 |
5.994 |
|
|
7.945 |
8.021 |
7.983 |
7.944 |
7.921 |
7.882 |
7.947 |
8.782 |
Financial
Year 2008-09 (Provisional)
Rs in Millions
|
Particular |
Amount |
Particular |
|
Amount |
|
Opening Stock |
0.945 |
Sales |
6.625 |
|
|
Purchase |
6.391 |
Work in Progress |
3.862 |
10.487 |
|
Direct Expenses |
0.210 |
|
|
|
|
Gross Profit C/d |
2.941 |
|
|
|
|
|
10.487 |
|
|
|
|
Indirect Expenses |
0.496 |
|
|
|
|
Depreciation |
0.755 |
Gross Profit B/d |
|
2.941 |
|
Net Profit |
1.690 |
|
|
|
|
|
2.941 |
|
|
2.941 |
FIXED ASSETS
- Furniture and
Fixture
- Office
Equipment
- Computer and
Peripherals
VALUATION REPORT
OF IMMOVABLE PROPERTY
|
GENERAL |
|
|
|
|
|
Purpose for Which Valuation Made |
To assess the Fair Market Value for the purpose of availing credit
facility / collateral security from Corporation Bank, Vileparle Branch |
|
|
|
|
Date on which Visit made |
22nd April 2008 |
|
|
|
|
Name of the owner / owners |
Mr. Moreshwar V. Goshale Mr. Shridhar M. Godhale |
|
|
|
|
If the property is under joint ownership co-ownership, share of each
owner, Is the share undivided |
Ownership as per agreement dated 03.07.2001 Share Certificate No. 12 dated 19.10.2003 Distinctive Nos 56 to 60 |
|
|
|
|
Brief description of the property |
The said property consist of Commercial Premises ag Ground Floor, Room
No. A – 001 At Trimurti Apt Chs Limited |
|
|
|
|
Location, Street, Ward No. |
At Ajmal Road, Off Malviya Road Vileparle [East], Mumbai – 400057 |
|
|
|
|
Survey / Plot No. of Land |
CTS No. 1023, 1023 [1] [2] At Village Vileparle, Tal – Andheri |
|
|
|
|
It the Property Situated in residential / Commercial / mixed /
Industrial Area |
Situated in Residential Area |
|
|
|
|
Classification of locality – high class / |
High Class |
|
|
|
|
Proximity to civic amenities like schools offices, hospitals, market,
cinemas etc |
Available at 0.5 to 1 km distance Railway Station Vileparle [E], at 1km distance |
|
|
|
|
Means and proximity to surface communication by which he locality is
served |
Autos, Taxis and suburban railway Services available Western Express Highway at 0.5 km distance |
|
|
|
|
LAND |
|
|
|
|
|
Area of land supported by documentary |
Commercial Premises at Gr. Floor, Room No. A – 001 At Trimurti Apt Cha Limited Admeasuring Carpet Area 137 sq. ft. [actual] And Built up area 1952 sq. ft.
And Carpet area 140 sq. ft. as per agreement |
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Roads or lanes on which land is abutting |
At Ajmal Road, Off Malviya Road. |
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It is freehold or lease land |
Freehold Land |
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Does the land fall in area included in town planning scheme or any
development or Government of any statutory body? If so, give particulars |
Falls within limits of MCGM Tal – Andheri |
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Has any contribution been made towards development or is any
contribution still outstanding ? |
Surrounded by compound wall and gates |
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IMPROVEMENTS |
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Attach plans and elevation of all structures standing on the land or
layout plan. |
Approved plans with owner |
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It the building owner occupied, tenant, or both |
Owner occupied [Commercial Premises] |
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What is F.S.I. permissible and percentage actually utilized? |
C.C. No. CE/5238/WS/AK/dtd5.5.1994 |
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Give details of water and electricity charges it any to be borne by
the owner. |
Borne by owner |
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If a pump is installed, who has to bear the cost. |
Cost borne by the owner |
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Who has to bear the cost of electricity for lighting of common space
like entrance, hall stairs, passages, compounds etc. |
Maintained by owner and cost borne by owner |
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What is the amount of property tax ? Who to bear it ? Give details with
documentary proof |
Excluded in society maintenance charges of Rs. 500/ 2 month and bone
by owner |
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SALES |
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Give instance of sale of immovable property in the locality on a separate
sheet, including the name and address of the property, registration No. sale
price and area land sold. |
The Fair Market Value of the said Property is assessed from the market
survey and inquiry from Local Estate Agents. The room is at Ground Floor and Building is 10 years old. |
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If sale instances are not available or relied upon the basis of
arriving at the land rate |
Considering the above factors the Fair Market Value of said Premises
is as follows The Carpet area 140 sq.ft. @ Rs. 0.015 millions sq.ft. = Rs. 2.100
Millions |
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COST OF
CONSTRUCTION |
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Year of commencement of construction and year of completion. |
Years 1995-97 |
TECHNICAL DETAILS FOR
THE PREMISES
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No. of floor and height of floor |
Part stilt + Ground + 4 Floor having 11’ – 0 Ground Floor height |
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Plinth area – floor – wise [As per is : 3861-1966] |
Commercial Premises at Ground Floor, Room No. A – 001 At Trimurti Apt Chs Limited Admeasuring Carpet Area 137 sq. ft. [actual] And Built up area 192 sq.ft. And Carpet area 140 sq.ft. [13m2] as per agreement |
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Year of construction |
1995-97 |
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Estimated future life |
Approx. 50 Years |
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Types of construction – load bearing wall / R.C.C. |
RCC frame structure |
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Types of Foundations |
RCC |
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WALLS |
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Basement and plinth |
9’’ thick brick / Stone masonry |
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Super structure above |
9’’ thick brick masonry |
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Partitions |
N.A. |
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Door and windows [Floor – wise] |
Wooden Frame Flush Doors and aluminium Windows |
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Flooring [Floor-wise] |
Spartex tile Flooring |
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Finishing [Floor – wise] |
Sand face cement plaster externally and neeru cement plaster
internally |
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Roofing and terracing |
RCC Flat Roof |
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Special architectural or decorative features if any |
Not Provided |
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Internal wiring – surface or conduit |
Conduit |
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Class of fittings superior / ordinary / poor |
Good Quality |
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Sanitary installations |
Common Toilet Provided |
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Class of fittings superior coloured / superior white / ordinary |
Average Quality |
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Compound wall |
Masonry Wall provided with Gates |
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No. of lifts and capacity |
One |
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Underground sump |
Provided |
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Capacity |
As per MCGM regulation |
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Type of construction |
R C C |
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Overhead Tank |
Provided |
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Where located |
On Toilet Block |
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Capacity |
As per MCGM regulation |
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Type of construction |
RCC |
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Pumps No. and their horse power |
Provided of adequate capacity |
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Roads and paving within the compound, approx area, type of paving |
Chequered tiles Paving |
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Sewage disposal / whether connected to public sewers. If septic tanks
provided, no and capacity. |
Connected to Public sewer |
AS PER WEBSITE
Profile
United Engineering Services is a professionally managed
growing company dealing in Industrial
Refrigeration & HVAC
systems.
The company is managed by Mr. S M Gokhale who has over two decades of
experience in the field with a dedicated team for design, installation,
commissioning and after sales service. By virtue of its design capabilities and
prompt service the company has secured repeat orders from almost all customers.
Subject understand that being in the service sector subject must be
prompt in providing all the services expected from them and strive to exceed
the expectations of the clients.
To that end subject have always treated the vendors and sub-contractors as part
of or team. Subject has thus created a sense of belonging and a common goal for
all of them. The significance of working to the satisfaction of the clients is
understood by the members of the team and the results of such efforts have been
experienced by all of them.
Expertise
The strength is strong application engineering background.
Subject have successfully designed, installed and commissioned
refrigeration and HVAC systems for a variety of industrial applications.
Subject has also modified systems installed by others – including some of the
big companies in the field.
The design procedure beings by understanding the client’s process
which gives them a clear perspective in selecting the most suitable system for
the particular application. All the systems designed by them are tailor-made
based on the process requirements and the location of the plant i.e. the
weather conditions. Subjects match the systems to the client’s requirements
instead of offering a standard product to which the client has to adjust.
Product and
Services
- Water
Chilling Plants
Fully automatic – custom designed - Brine
Chilling Plants
Fully automatic – custom designed - Cold Rooms
- Hot Storage
Rooms
- Ventilation
& Evaporative Cooling
- Airconditioning
Systems
Specialization - Humidification
, Dehumidification with R.H. control,
- 100% fresh
air applications with dehumidification down to 2 Deg. C Dew Point for
pneumatic conveying
- Consultancy
Specialization
- Detailed
engineering with correct selection of all equipments
- Applications
with Relative Humidity control
- Low temperature
and ultra-low temperature applications
- Troubleshooting
For underperforming systems - Energy
Saving
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.68 |
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UK Pound |
1 |
Rs.84.37 |
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Euro |
1 |
Rs.65.70 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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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45 |
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. |
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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