1. Summary Information
|
|
|
Country |
|
|
Company Name |
KALYANI CARPENTERS SPECIAL STEELS LIMITED |
Principal Name 1 |
Mr. Babasaheb Neelkanth Kalyani |
|
Status |
Good |
Principal Name 2 |
Mr. Charudatta Ganesh Patankar |
|
|
|
Registration # |
11-12724 |
|
Street Address |
72-76, Mundhwa, Pune-411036, |
||
|
Established Date |
24.07.1998 |
SIC Code |
-- |
|
Telephone# |
91-20-66215000 / 26824086 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-20-26824483 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Alloy Bars and Roads |
|
|
# of employees |
-- |
Product Name 2 |
Non Alloy Bars and Roads |
|
Paid up capital |
Rs. 300,419,620/- |
Product Name 3 |
Non Alloy Ingots |
|
Shareholders |
Foreign holdings
26.00%, Bodies corporate
74.00% |
Banking |
Canara Bank |
|
Public Limited Corp. |
No |
Business Period |
12 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba
(43) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company |
|
KSL Holing Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,953,558,000 |
Current Liabilities |
1,475,869,000 |
|
Inventories |
608,443,000 |
Long-term Liabilities |
1,110,302,000 |
|
Fixed Assets |
1,621,153,000 |
Other Liabilities |
355,627,000 |
|
Deferred Assets |
0000 |
Total Liabilities |
2,941,798,000 |
|
Invest& other Assets |
12,613,000 |
Retained Earnings |
953,549,000 |
|
|
|
Net Worth |
1,253,969,000 |
|
Total Assets |
4,195,767,000 |
Total Liab. & Equity |
4,195,767,000 |
|
Total Assets (Previous Year) |
4,482,948,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
7,271,889,000 |
Net Profit |
132,902,000 |
|
Sales(Previous yr) |
7,533,865,000 |
Net Profit(Prev.yr) |
(31,648,000) |
MIRA
INFORM REPORT
|
Report Date : |
21.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
KALYANI CARPENTERS SPECIAL STEELS LIMITED |
|
|
|
|
Registered Office : |
72-76, Mundhwa, Pune-411036, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
24.07.1998 |
|
|
|
|
Com. Reg. No.: |
11-12724 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U27105PN1998PLC012724 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
PNEK05230B |
|
|
|
|
Legal Form : |
A Closely held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Alloy Steel |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and a reputed company having good track.
Trade relations are fair. Business is active. Payments are reported as
regular. The financials of the company appears to be good. The company can be considered good for normal business dealings under
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
72-76, Mundhwa, Pune-411036, |
|
Tel. No.: |
91-20-66215000 / 26824086 |
|
Fax No.: |
91-20-26824483 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
Plot No. 8-D, Door No.
5, 1st Floor, Balamurugan Nagar, Chitrai Veedhi, Alappakkam, Porur, Chennai -
600115 |
|
Tel. No.: |
91 - 044 – 24760493 |
|
Fax No.: |
91 - 044 – 24760493 |
|
|
|
|
Corporate Office : |
Antriksh Bhavan, 14th
Floor, 22, K.G. Marg, |
|
Tel. No.: |
91 - 11 - 23730812 |
|
Fax No.: |
91 - 11 - 23357083 |
|
|
|
|
Sales and Marketing Office: |
Locate At:
|
DIRECTORS
As on 18.09.2010
|
Name : |
Mr. Babasaheb Neelkanth Kalyani |
|
Designation : |
Director |
|
Address : |
221/ABCD, Kalyaninagar, Pune – 411 006, |
|
Date of Birth/Age : |
07.01.1949 |
|
Date of Appointment : |
02.08.1999 |
|
|
|
|
Name : |
Mr. Charudatta Ganesh Patankar |
|
Designation : |
Director |
|
Address : |
616, Sindh Housing Society, Aundh, Pune – 411 007, |
|
Date of Birth/Age : |
06.06.1956 |
|
Date of Appointment : |
20.09.2008 |
|
|
|
|
Name : |
Mr. Sunil Yograj Widge |
|
Designation : |
Director |
|
Address : |
97, |
|
Date of Birth/Age : |
18.09.1949 |
|
Date of Appointment : |
20.09.2008 |
|
|
|
|
Name : |
Mr. Jaime Vasquez |
|
Designation : |
Director |
|
Address : |
17, |
|
Date of Birth/Age : |
16.04.1962 |
|
Date of Appointment : |
20.09.2008 |
|
|
|
|
Name : |
Mr. Madan Umakant Takale |
|
Designation : |
Additional Director |
|
Address : |
3 Archway Apartments, Plot No.1, Nilanjali Hsg Society, Kalyani Nagar,
Pune – 411 006, |
|
Date of Birth/Age : |
18.08.1960 |
|
Date of Appointment : |
26.02.2009 |
KEY EXECUTIVES
|
Name : |
Mr. Ramesh Vishwanath Birajdar |
|
Designation : |
Secretary |
|
Address : |
Green Field Society, D-2, Flat No. 11+14, Shivteerth Nagar, Kothrud,
Pune-411038, |
|
Date of Appointment : |
01.12.2008 |
|
Date of Ceasing: |
05.10.2009 |
|
|
|
|
Name : |
Ms. Vaidehi Yeshwant Pathak |
|
Designation : |
Secretary |
|
Address : |
30/163, Apte Colony, Hingne Khurd, |
|
Date of Appointment : |
27.05.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 18.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Carpenter Technology Mauritius Limited, |
|
7810910 |
|
KSL Holdings Private Limited, |
|
22230548 |
|
BF Investment Limited, |
|
500 |
|
C.G. Patankar |
|
1 |
|
B.B. Hattarki |
|
1 |
|
D.R. Puranik |
|
1 |
|
Anand Shirsat |
|
1 |
|
|
|
|
|
Total |
|
30041962 |
As on 18.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
26.00 |
|
Bodies
corporate |
|
74.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Alloy Steel |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Ingot Blooms |
M.T |
200000 |
180000 |
148123 |
|
Billets and Bars |
M.T |
200000 |
180000 |
126481 |
|
Wire Roads and Bars |
M.T |
50000 |
4000 |
2005 |
GENERAL INFORMATION
|
Bankers : |
Ø
IDBI Bank Limited, Ø
Bank of Baroda – Lead Bank, Corporate Financial Services
Branch, Mantri Court, 39 Ambedkar Road, Pune – 411 001, Maharashtra, India Ø
Axis Bank Limited Ø
ICICI Bank Limited Ø
Canara Bank, Prime Corporate Branch, M.G. Road,
Red Cross Building, Camp, Pune-411001, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dalal and Shah Chartered Accountant |
|
Address : |
252, Veer Savarkar Marg, |
|
Tel No.: |
91-22-66691000 |
|
Fax No.: |
91-22-66547800/66547801 |
|
|
|
|
Holding Company: |
KSL Holing Private Limited (U65993PN2001PTC015938) |
|
|
|
|
Controlling Company And Companies Under Common Control: |
·
Carpenter Technology Mauritius Limited ·
Carpenter Technology Corporation ·
Tally Metals Technology Inc. ·
Tally Industries Inc. ·
Carpenter Technology ·
Aceros Fortuna ·
CRS Holdings Inc. ·
Carpenter Technology ( |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
35000000 |
Equity Shares |
Rs.10/- each |
Rs.350.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30041962 |
Equity Shares |
Rs.10/- each |
Rs.300.420
Millions |
Note:
Of the above shares
22,230,552 Equity shares of Rs.10/- each are held by KSL Holdings Private Limited, the Holding Company. 7,810,910 Equity shares of Rs.10/- each are held by Carpenter Technology Mauritius Limited, issued and allotted at a premium of Rs. 45/- each on April 1, 1999
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
300.420 |
300.420 |
300.420 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
953.549 |
825.055 |
858.076 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1253.969 |
1125.475 |
1158.496 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
908.987 |
1652.920 |
981.354 |
|
|
2] Unsecured Loans |
201.315 |
4.664 |
4.407 |
|
|
TOTAL BORROWING |
1110.302 |
1657.584 |
985.761 |
|
|
DEFERRED TAX LIABILITIES |
194.146 |
165.700 |
130.523 |
|
|
|
|
|
|
|
|
TOTAL |
2558.417 |
2948.759 |
2274.780 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1621.153 |
1687.578 |
1021.924 |
|
|
Capital work-in-progress |
12.613 |
59.392 |
192.735 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
TECHNICAL KNOW HOW |
0.000 |
51.999 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
608.443
|
988.392
|
967.019
|
|
|
Sundry Debtors |
1499.013
|
1159.585
|
1333.163
|
|
|
Cash & Bank Balances |
33.018
|
10.017
|
81.066
|
|
|
Other Current Assets |
172.708
|
164.724
|
28.286
|
|
|
Loans & Advances |
248.819
|
340.696
|
698.632
|
|
Total
Current Assets |
2562.001
|
2663.414
|
3108.166
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1007.514
|
842.688 |
|
|
|
Other Current Liabilities |
468.355
|
449.159
|
1593.825
|
|
|
Provisions |
161.481
|
242.342
|
495.350
|
|
Total
Current Liabilities |
1637.350
|
1534.189
|
2089.175
|
|
|
Net Current Assets |
924.651
|
1129.225
|
1018.991
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
20.565 |
41.130 |
|
|
|
|
|
|
|
|
TOTAL |
2558.417 |
2948.759 |
2274.780 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7271.889 |
7533.855 |
6685.826 |
|
|
|
Job Work Receipts |
33.979 |
56.487 |
85.376 |
|
|
|
Refund of Regulatory Liability Charges |
0.000 |
138.503 |
0.000 |
|
|
|
Refund of Incremental Additional Supply Charges |
28.827 |
24.027 |
0.000 |
|
|
|
Other Income |
23.954 |
10.944 |
7.913 |
|
|
|
TOTAL (A) |
7358.649 |
7763.816 |
6779.115 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials consumed and Manufacturing
expenses |
6367.001 |
6958.050 |
5912.311 |
|
|
|
Employees emoluments |
307.159 |
281.111 |
256.781 |
|
|
|
Other expenses |
398.480 |
425.028 |
296.254 |
|
|
|
TOTAL (B) |
7072.640 |
7664.189 |
6465.346 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
286.009 |
99.627 |
313.769 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
286.009 |
99.627 |
313.769 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
124.561 |
94.218 |
73.403 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
161.448 |
5.409 |
240.366 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
28.546 |
37.057 |
83.708 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
132.902 |
(31.648) |
156.658 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
397.069 |
431.780 |
343.546 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Excess / (Short) Provision for Taxation
Expenses |
4.408 |
3.063 |
0.041 |
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
15.662 |
|
|
|
Proposed Dividend |
0.000 |
0.000 |
45.063 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
7.658 |
|
|
BALANCE CARRIED
TO THE B/S |
525.563 |
397.069 |
431.780 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.000 |
3.875 |
10.062 |
|
|
|
Insurance and Freight on Exports |
0.000 |
0.312 |
0.426 |
|
|
TOTAL EARNINGS |
0.000 |
4.187 |
10.488 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
408.701 |
824.747 |
296.016 |
|
|
|
Capital Goods |
0.000 |
14.157 |
4.430 |
|
|
TOTAL IMPORTS |
408.701 |
838.904 |
300.446 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.28 |
(1.16) |
5.21 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.81
|
(0.41) |
2.31 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.22
|
0.07 |
3.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.86
|
0.12 |
5.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.00 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.19
|
2.84 |
2.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.56
|
1.74 |
1.49 |
LOCAL AGENCY FURTHER INFORMATION
Financial Results:
During the financial year 2009-10, Sales tonnage at 149,641 MT was higher by 11.8% over previous year. As a result of improved market conditions in the second half of the financial year.
Turnover of the company in value terms however is marginally
lower by 3.89% due to reduction in sales prices, in tandem to drop in material
costs. Turnover dropped by Rs 284.470 Million to Rs. 7306.270 Million the
Company believes that costs have to be continuously brought down while
improving the product quality. Towards this, several initiatives have been
taken towards improvement in yields, reduction in oil consumption and reduction
in metallic cost. Financial costs have reduced by Rs 51.300 Millions during the
year with better inventory management and timely realization of receivables.
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10216336 |
|
Corporate identity
number of the company |
U27105PN1998PLC012724 |
|
Name of the
company |
KALYANI CARPENTER
SPECIAL STEELS LIMITED |
|
Address of the
registered office or of the principal place of business in |
72-76, Mundhwa, Pune-411036, |
|
Type of charge |
Immovable
Property Any Interest in
Immovable Property |
|
Particular of
charge holder |
Canara Bank, Prime Corporate Branch, M.G. Road, Red Cross Building,
Camp, Pune-411001, Maharashtra, India |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
No Instrument Was
Executed. A
Declaration Dated September,23rd 2010 Was Signed By The Authorised Director
of The Company A Letter Received
From ICICI Bank Dated September, 29th 2010, |
|
Date of
instrument Creating the charge |
23.09.2010 |
|
Amount secured by
the charge |
Rs.454.600
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest LIBOR+400 bps. To be reset at
every six months, with a option to convert the same into INR @ ROI=BPLR-2% p.
a. Terms of
Repayment In three years Extent and Operation
of the charge The mortgage
created by the company shall be as security for the due repayment of the term
loan of USD 10.00 Million equivalent to about Rs.454.600 millions together
with all interest and other monies payable by the company under the Loan
Agreement dated April, 06, 2010. |
|
Short particulars
of the property charged |
All that piece
and parcels of leasehold land known as Plot No.B-5 area admeasuring 25542 sq.
meters within Ranjangaon Industrial Area, Dhoksangvi Village, District Pune,
Maharashtra. |
|
Particulars of
the present modification |
By way of first
modification to the hypothecation dated April 06, 2010, a mortgage by deposit
of title deeds on the leasehold property situated at Plot No.B-5, area
admeasuring 25542 sq. meters within Ranjangaon Industrial Area, Dhoksangvi
Village, District Pune, Maharashtra together with all building and structures
thereon and all plant and machinery attached to the earth or permanently
fastened to anything attached to the earth was created on September 23, 2010. |
FIXED ASSETS:
- Building
- Plant and
Machinery
- Electrical
Installation
- Furniture and
Fixtures
- Vehicles
AS PER WEBSITE
PROFILE:
Established in 1999, Subject (KCSSL) is a joint venture between
Kalyani Group and Carpenter Technology Corporation,
Founded in 1973, Kalyani Steels is a leading manufacturer of forging and other engineering quality carbon and alloy steels and has consistently invested in technology up-gradation and state-of-the-art facilities. Carpenter Technology Corporation on the other hand, with its headquarters in Reading, Pennsylvania, has been in the business for over a century and is recognized the world over as a producer of speciality steels like stainless steel, tool steel, valve steel and other steels for special applications.
Subject manufactures a wide variety of special steels for different applications and caters to industry specifications including IS, BS, AISI / SAE, DIN, JIS, GOST specifications or as per customer’s specific requirements.
Customer delight is
an inspiration at Kalyani Carpenter. Committed to high standards of
customer satisfaction, Subject is a part of the USD 900 million Kalyani Group - one of the leading
Industrial Houses in
An ISO/TS 16949:20029(TUV) and AS 9100B (KEMA) certified company, they have consistently demonstrated the ability to meet the most stringent quality assurance standards. While they strive for continuous improvement, their advanced manufacturing processes and quality systems ensure sustained and consistent quality in their products and services.
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 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.45.18 |
|
|
1 |
Rs.73.04 |
|
Euro |
1 |
Rs.61.43 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.