1. Summary Information
|
|
|
Country |
India |
|
Company Name |
SHAHLON
INDUSTRIES PRIVATE LIMITED |
Principal Name 1 |
Mr. Nitin
Raichand Shah |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Dipan Jayantilal
Shah |
|
|
|
Registration # |
04 -018826 |
|
Street Address |
303, 3rd
Floor, Dawar Chambers, Near Sub Jail, Ring Road, Surat - 395 002, Gujarat,
India |
||
|
Established Date |
18.01.1993 |
SIC Code |
-- |
|
Telephone# |
91-261-3090200 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-261-2635550 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Draw Texturised Yarn |
|
|
# of employees |
-- |
Product Name 2 |
Zero Twist Size Yarn |
|
Paid up capital |
Rs.
9,150,000/- |
Product Name 3 |
Grey Cloth |
|
Shareholders |
Bodies corporate-11% Directors or
relatives of Directors -89% |
Banking |
State Bank of India |
|
Public Limited Corp. |
No |
Business Period |
18 years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Related
Party |
India |
Fairdeal Filament Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
251,227,000 |
Current Liabilities |
42,080,000 |
|
Inventories |
101,215,000 |
Long-term Liabilities |
459,750,000 |
|
Fixed Assets |
370,104,000 |
Other Liabilities |
6,800,000 |
|
Deferred Assets |
0 |
Total Liabilities |
508,630,000 |
|
Invest& other Assets |
23,612,000 |
Retained Earnings |
228,378,000 |
|
|
|
Net Worth |
237,528,000 |
|
Total Assets |
746,158,000 |
Total Liab. & Equity |
746,158,000 |
|
Total Assets (Previous Year) |
544,160,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales (Sales + Other Income) |
983,360,000 |
Net Profit |
11,211,000 |
|
Sales(Sales + Other Income) (Previous yr) |
599,791,000 |
Net Profit(Prev.yr) |
11,915,000 |
MIRA
INFORM REPORT
|
Report Date : |
27.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
SHAHLON
INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
303, 3rd
Floor, Dawar Chambers, Near Sub Jail, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
18.01.1993 |
|
|
|
|
Com. Reg. No.: |
04 -018826 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 9.150 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25200GJ1993PTC018826 |
|
|
|
|
IEC No.: |
5201000690 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTS01835B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCS0163E |
|
|
|
|
Legal Form : |
Private Limited
Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturers of
Zero Twist Sized Yarn and Grey Cloth |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 950000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered for normal business dealings at 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/ Head Office : |
303, 3rd
Floor, Dawar Chambers, Near Sub Jail, Ring Road, Surat - 395002, Gujarat,
India. |
|
Tel. No.: |
91-261-3090200/ 2635541/ 2635542 |
|
Mobile No.: |
91-9377555543 (Mr. Hitesh Garmora) / 91-9825114362 |
|
Fax No.: |
91-261-2635550 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
4000 sq. ft. |
|
Location : |
Rented |
|
|
|
|
Plants / Factory : |
|
|
Factory 1 : |
Block No. 297 and 298, Plot No. 1, 3/A, 3/B and 4/A, Block No.297,
Plot No.3, 3A, 3B, 3C and 2B, Limodara Patia, Village: Karanj, Taluka: Mandvi,
District Surat, Gujarat, India |
|
Tel. No.: |
91-2621-234370-71 |
|
Fax No.: |
91-2621-234372 |
|
E-Mail : |
|
|
Area : |
12094.76 sq. mtrs. |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Plot No. 72 to 86, |
|
Tel. No.: |
91-261-3090200/ 2635541/ 2635542 |
|
Fax No.: |
91-261-2635550 |
|
E-Mail : |
|
|
Area : |
17505 sq. mtrs. |
|
Location : |
Leased |
|
|
|
|
Factory 3 : |
Composite Unit 2, Fairdeal Textile Park, Village : Mahuvej, Taluka
Mangrol, District Surat-394102, Gujarat, India |
|
Tel. No.: |
91-2621-234370 |
|
Mobile No.: |
91-9925111551 / 9825114371 (Mr. Nitin Shah) |
|
Fax No.: |
91-2621-234371 |
|
E-Mail : |
DIRECTORS
AS ON 28.09.2010
|
Name : |
Mr. Nitin
Raichand Shah |
|
Designation : |
Whole Time
Director |
|
Address : |
9, Deep Mangal
Society, Near Narmad Library, |
|
Date of Birth/Age : |
13.01.1961 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
18.01.1993 |
|
DIN No : |
00010487 |
|
|
|
|
Name : |
Mr. Dipan
Jayantilal Shah |
|
Designation : |
Director |
|
Address : |
302, Gunjan
Flats, Near Narmad Library, |
|
Date of Birth/Age : |
22.09.1975 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
04.10.2000 |
|
DIN No : |
00010494 |
|
|
|
|
Name : |
Mr. Mahendra
Raichand Shah |
|
Designation : |
Director |
|
Address : |
403, Soneri
Apartment, Near |
|
Date of Birth/Age : |
06.08.1957 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
18.01.1993 |
|
DIN No : |
00009862 |
|
|
|
|
Name : |
Mrs. Avani Arvind
Shah |
|
Designation : |
Director |
|
Date of Birth/Age : |
202, “Soneri”
Aprtment, Near Chinmay Hospital, Ghod Dod Road, Surat-395001, Gujarat, India |
|
Date of Birth/Age : |
01.10.1966 |
|
Date of Appointment : |
01.12.2009 |
|
DIN No : |
00009841 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2010
|
Names of Shareholders |
No. of Shares |
|
Suresh Somchand
Shah |
1000 |
|
Raichand Kanji Shah
Jointly With Mrs. Jiviben Raichand Shah |
10000 |
|
Jayantilal
Raichand Shah Jointly With Mrs. Damyanti Jayantilal Shah |
68500 |
|
Dhiraj Raichand
Shah Jointly With Mrs. Kanchan Dhiraj Shah |
49400 |
|
Mahendra Raichand
Shah Jointly With Mrs. Meena Mahendra
Shah |
66500 |
|
Arvind Raichand
Shah Jointly With Mrs. Avani Arvind Shah |
37500 |
|
Nitin Raichand
Shah Jointly With Mrs. Manaxi Nitin Shah |
110500 |
|
Biren Jayantilal
Shah Jointly With Mrs. Smita Biren Shah |
34000 |
|
Dipen Jayantilal Shah
Jointly With Mrs. Sonal Dipen Shah |
54025 |
|
Raichand Kanji
Shah – HUF |
34500 |
|
Jayantilal
Raichand Shah – HUF |
30000 |
|
Pravin Raichand
Shah – HUF |
31000 |
|
Dhiraj Raichand
Shah – HUF |
16000 |
|
Mahendra Raichand
Shah – HUF |
32000 |
|
Arvind Raichand
Shah – HUF |
17000 |
|
Nitin Raichand
Shah – HUF |
17000 |
|
Biren Jayantilal
Shah – HUF |
28000 |
|
Dipan Jayantilal
Shah – HUF |
8000 |
|
Jiviben Raichand
Shah Jointly With Mr. Raichand Kanji
Shah |
18000 |
|
Damyanti Jayantilal
Shah Jointly With Mr. Jayantilal
Raichand Shah |
8000 |
AS ON 28.09.2010
|
Category |
Percentage |
|
Bodies corporate |
11.00 |
|
Directors or relatives of Directors |
89.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of
Zero Twist Sized Yarn and Grey Cloth |
||||||||||
|
|
|
||||||||||
|
Products : |
|
||||||||||
|
|
|
||||||||||
|
Brand Names : |
“Shahlon” |
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Yarn |
MTPA |
NA |
4483 |
1940.52 |
|
Fabrics (in Lacs) |
Meters |
NA |
147.70 |
136.87 |
|
Garments |
Lacs Pcs. |
NA |
14 |
354.00 |
GENERAL INFORMATION
|
Bankers : |
·
State Bank of India, Industrial Finance Branch,
Marble Arch, Race Course, Vadodara-395007, Gujarat, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Paresh A.
Topiwala Chartered Accountant |
|
Address : |
44, Shivdhara Raw House, Opp. Amrapall Society, Pal Adajan Road, Pal, Surat,
Gujarat, India |
|
Mobile No.: |
91-9374555543 |
|
Fax No.: |
91-261-2635550 |
|
E-Mail : |
|
|
|
|
|
Other Related Party : |
Fairdeal Filament Limited Shahlon Silk Mills Private Limited Fairdeal Textile Park Private Limited Shahlon Industrial Infrastructure Private Limited Lotus Marketing |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
915000 |
Equity Shares |
Rs.10/- each |
Rs. 9.150
Millions |
|
|
|
|
|
AS ON 28.09.2010
Authorised Capital : Rs. 12.500
millions
Issued, Subscribed & Paid-up Capital : Rs. 9.730 millions
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 |
9.150 |
9.150 |
9.150 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
228.378 |
223.697 |
97.675 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
237.528 |
232.847 |
106.825 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
317.935 |
210.574 |
219.040 |
|
|
2] Unsecured Loans |
141.815 |
45.736 |
40.640 |
|
|
TOTAL BORROWING |
459.750 |
256.310 |
259.680 |
|
|
DEFERRED TAX LIABILITIES |
6.800 |
6.106 |
8.208 |
|
|
|
|
|
|
|
|
TOTAL |
704.078 |
495.263 |
374.713 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
370.104 |
272.997 |
180.634 |
|
|
Capital work-in-progress |
1.646 |
25.409 |
11.716 |
|
|
|
|
|
|
|
|
INVESTMENT |
21.966 |
8.642 |
2.466 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
101.215
|
59.253 |
53.223 |
|
|
Sundry Debtors |
200.844
|
128.627 |
112.591 |
|
|
Cash & Bank Balances |
19.267
|
7.036 |
1.152 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
31.116
|
17.744 |
27.188 |
|
Total
Current Assets |
352.442
|
212.660 |
194.154 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
35.146
|
20.240 |
10.209 |
|
|
Other Current Liabilities |
0.744
|
0.002 |
0.015 |
|
|
Provisions |
6.190
|
4.210 |
4.047 |
|
Total
Current Liabilities |
42.080
|
24.452 |
14.271 |
|
|
Net Current Assets |
310.362
|
188.208 |
179.883 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.007 |
0.014 |
|
|
|
|
|
|
|
|
TOTAL |
704.078 |
495.263 |
374.713 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
581.857 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
983.360 |
599.791 |
581.857 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
886.918 |
530.490 |
517.079 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
886.918 |
530.490 |
517.079 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
96.442 |
69.301 |
64.778 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
49.996 |
32.795 |
27.232 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
46.446 |
36.506 |
37.546 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
31.891 |
25.247 |
26.313 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
14.555 |
11.259 |
11.233 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
3.344 |
(0.656) |
0.512 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
11.211 |
11.915 |
10.721 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
75.809 |
63.896 |
53.307 |
|
|
|
|
|
|
|
|
|
Less |
Short provision
for taxation in earlier year |
0.008 |
0.002 |
0.132 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
87.012 |
75.809 |
63.896 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
6.095 |
0.347 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
3.073 |
5.392 |
1.356 |
|
|
|
Stores & Spares |
0.838 |
0.067 |
0.107 |
|
|
|
Capital Goods |
27.420 |
0.000 |
0.909 |
|
|
TOTAL IMPORTS |
31.331 |
5.459 |
2.372 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.25 |
13.02 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.14
|
1.99 |
1.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.01
|
2.32 |
3.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.05 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.14
|
1.23 |
2.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
8.38
|
8.70 |
13.60 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONAL
PERFORMANCE
The company has achieved a turnover of Rs. 983.360 millions during the
year as compared to Rs. 599.791 millions for the previous year. the company has
achieved operating profit of Rs. 96.442 millions as compared to Rs. 11.211
millions as compared to Rs. 11.915 millions for the previous year. The company
has achieved cash profit of Rs. 47.201 millions as compared to Rs. 35.067
millions for the previous year. The company has achieved profit before tax of
Rs. 14.555 millions as compared to Rs. 11.259 millions for the previous year.
FORM 8
|
Corporate
identity number of the company |
U25200GJ1993PTC018826 |
|
Name of the
company |
SHAHLON
INDUSTRIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
303, 3rd Floor, Dawar Chambers, Near Sub Jail, Ring Road,
Surat - 395002, Gujarat, India |
|
This form is for |
Modification of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Others |
|
Particular of
charge holder |
State Bank of India, Industrial Finance Branch, Marble Arch, Race
Course, Vadodara-395007, Gujarat, India |
|
Nature of instrument
creating charge |
Supplemental
agreement of hypothecation of goods and assets for increase in the overall
limit |
|
Date of
instrument Creating the charge |
29.03.2011 |
|
Amount secured by
the charge |
Rs. 721.400 millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest Term
Loans And Corporate Loan: 4.75% Above Base Rate, Present Effective Rate 13%
P.A. Cash
Credit: 5% Above Base Rate, Present Effective Rate 13.25% p.a. Terms of repayment TL
I- Quarterly Installment 20* 0.265 million,
TL
II, III and IV- Quarterly Installment
25*3.075 millions and last installment of 3.125 millions, TL
V- Quarterly Installment 10*1.000 million, rest inst. 16*1.250 million, TL VI-
Quarterly Installment 1st-4*1.500 millions, next 12*2.500 millions, next
12*3.000 millions, last 2*5.000 millions Corporate
Loan - Quarterly Installment 1st yr.
1*17.500 millions, next yr. 2*6.000 millions and 2*6.500 millions, next yr.
3*8.000 million and 1*8.500 millions Margin Cash
Credit: RM-25%,
SIP-25%, FG-25%, Receivables- 30%, L/C- 10%, Cover period for receivables-
120 days for export processing units and 90 days for others, EPC/PCFC- 10% of
FOB value of order and EPC stock TL
I: 25% for mach and 40% for civil work, TL
II,III and IV: land and building and mach- 30%, Other mach and equipments
under TUF- 25%, Windmill- 27%, TL
V: land- 100%, building - 31%, Machinery -25%, ERP- 30%, TL
VI: land and building- 100%, Machinery (old & new) -20%, Bank Guarantee-
10% Extent and
operation of the charge Exclusive
First charge over book-debts, plant and machinery, vehicles, all stocks
including raw materials, finished goods and spare parts both present and
future and other moveable assets belonging to the company and lying in any
factory, premises or godowns owned by the company or taken on rent by the
company or where ever situated and used
in connection with the business of the company. |
|
Short particulars
of the property charged (Including location of the property) |
All
stocks and other movables including plant and machinery lying at Block No.
297, 298, Limodara Patiya, Village: Karanj, Taluka: Mandvi, Dist. Surat,
Gujarat, India All stocks
and other movables including plant and machinery lying at Plot No. 72 to 86,
Surat Apparel Park, Special Economic Zone, Sachin G.I.D.C., Vanz Road,
Surat-394230, Gujarat India All
stocks and other movables including plant and machinery lying at Composite
Unit 2, Fairdeal Textile Park, Village: Mahuvej, Taluka: Mangrol, Dist.
Surat-394102, Gujarat, India |
|
Charge
identification number of the charge to be modified |
90100028 |
|
Date of
instrument modifying the charge |
23.12.2010 |
|
Particulars of
the present modification |
The
charge of the Bank on the properties mentioned above is modified to secure
aggregate credit facilities of Rs. 721.400 millions increased from Rs.
646.400 millions granted by the bank to the company. Sanction of fresh
corporate loan facility of Rs. 75.000 millions |
Fixed Assets
· Land
·
· Building
· Plant and Machinery
· Office Equipments
· Computer
· Vehicles
· Furniture and Fixture
· Beam Pipe
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 44.28 |
|
|
1 |
Rs. 72.36 |
|
Euro |
1 |
Rs. 64.16 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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.