1.
Summary Information
|
|
|
Country |
|
|
|
|
Company Name |
S C Shah and
Company Private Limited |
Principal Name 1 |
Mr. Virendra S. Shah |
|
|
|
Status |
Moderate |
Principal Name 2 |
Mr. Bhavesh V. Shah |
|
|
|
|
|
Registration # |
18-44965 |
|
|
|
Street Address |
518, Anna Salai,
Teynampet, Chennai – 600018, |
|
|||
|
Established Date |
17.05.2000 |
SIC Code |
-- |
|
|
|
Telephone# |
91-44-24349268/ 28153162/ 63/ 28460871/ 28158106 |
Business Style 1 |
Trading |
|
|
|
Fax # |
91-44-28414477 |
Business Style 2 |
-- |
|
|
|
Homepage |
Product Name 1 |
Air Conditioners |
|
||
|
# of employees |
|
Product Name 2 |
Refrigerators |
|
|
|
Paid-up capital |
Rs.3,000,000/- |
Product Name 3 |
Televisions |
|
|
|
Shareholders |
Directors or Relatives of Directors (100%) |
Banking |
ICICI Bank Limited |
|
|
|
Public Limited Corp. |
No |
Business Period |
10 Years |
|
|
|
IPO |
No |
International Ins. |
-- |
|
|
|
Public |
No |
Rating |
B (29) |
|
|
|
Related
Company |
|
||||
|
Relation |
Country
- |
Company
Name |
-- |
|
|
|
Note |
- |
|
|||
|
|
|
|
|
|
|
2.
Summary Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
22,894,000 |
Current Liabilities |
46,708,000 |
|
Inventories |
50,715,000 |
Long-term Liabilities |
31,757,000 |
|
Fixed Assets |
12,179,000 |
Other Liabilities |
0,000,000 |
|
Deferred Assets |
508,000 |
Total Liabilities |
78,465,000 |
|
Invest& other Assets |
0,000,000 |
Retained Earnings |
3,331,000 |
|
|
|
Net Worth |
7,831,000 |
|
Total Assets |
86,296,000 |
Total Liab. & Equity |
86,296,000 |
|
Total Assets (Previous Year) |
66,479,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
48,705,000 |
Net Profit |
1,026,000 |
|
Sales(Previous
yr) |
30,578,000 |
Net Profit(Prev.yr) |
715,000 |
MIRA
INFORM REPORT
|
Report Date : |
23.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
S. C. SHAH AND COMPANY PRIVATE LIMITED |
|
|
|
|
Registered Office : |
518, Anna Salai, Teynampet, Chennai – 600 018, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
17.05.2000 |
|
|
|
|
Com. Reg. No.: |
18-44965 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51909TN2000PTC044965 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CHES20824G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAGCS0730A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Trading in Consumer Durables |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
|
|
|
|
Maximum Credit Limit : |
USD 30000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However trade relations are reported as
fair. Business is active. Payments are reported to be slow but correct. The company can be considered for small to mediocre 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/ Branch Office : |
518, Anna Salai, Teynampet, Chennai – 600018, |
|
Tel. No.: |
91-44-24349268/ 28153162/ 63/ 28460871/ 28158106 |
|
Fax No.: |
91-44-28414477 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Flat No. 2 - B, 2nd Floor, Sreenivasam Apartment, New No. 12, |
|
Tel. No.: |
91-44-4354 6088 / 99 |
|
Fax No.: |
91-44-2815 3164 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Opposite Spencer's Towers, Next no D2, Police Station,
Anna Salai, Chennai -600002, |
|
Tel. No.: |
91-44-28523163 |
|
Fax No.: |
91-44-28414477 |
|
|
|
|
Retail Outlets : |
Located at: · T. Nagar, Chennai · Annanagar, Chennai · Adyar, Chennai · Mount Road, Chennai · Velachery, Chennai · Valasaravakkam, Chennai · Chrompet |
DIRECTORS
As on : 30.09.2010
|
Name : |
Mr. Virendra S. Shah |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
16.03.1949 |
|
Date of Appointment : |
17.05.2000 |
|
|
|
|
Name : |
Mr. Bhavesh V. Shah |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
17.05.1976 |
|
Date of Appointment : |
17.05.2000 |
|
|
|
|
Name : |
Mr. Paras V. Shah |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
25.03.1978 |
|
Date of Appointment : |
17.05.2000 |
|
|
|
|
Name : |
Mrs. Veena V. Shah |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
04.09.1950 |
|
Date of Appointment : |
17.05.2000 |
|
|
|
|
Name : |
Mrs. Poonam B. Shah |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
08.10.1976 |
|
Date of Appointment : |
17.05.2000 |
|
|
|
|
Name : |
Mrs. Jayakanthi Arunagiri |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
13.03.1959 |
|
Date of Appointment : |
17.05.2000 |
|
|
|
KEY EXECUTIVES
|
Name : |
Mr. A M Gopikrishnan |
|
Designation : |
Company Secretary |
|
Address : |
Sri Durga Pearl, Flat S-3, 151 (New – 14), First |
|
Tel. No.: |
91-44-26712781 |
|
Mobile No.: |
91-9282142370 |
|
E-Mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
|
|
|
Verendra S. Shah |
160900 |
|
Veena V. Shah |
139100 |
|
|
|
|
Total |
300000 |
As on : 30.09.2010
|
Category |
Percentage |
|
|
|
|
Directors or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading in Consumer Durables |
|
|
|
|
Products : |
·
Air Conditioners ·
Refrigerators ·
DTH ·
Televisions ·
LCDS / Plasma TVS ·
Home Theatre Systems ·
Microwaves ·
Washing Machines ·
Dishwashers ·
Stereo Systems ·
Digital Cameras ·
Handy cams ·
Cordless phones ·
Kitchen Appliances ·
Small Appliances |
|
|
|
|
Agency Held : |
· Onida TV · Whirlpool Washing Machines |
|
|
|
GENERAL INFORMATION
|
Customers : |
End Users |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
20 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking Relations
: |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
U. R. Sanghvi and Company Chartered Accountant |
|
Address : |
311, City Center, 186, |
|
|
|
CAPITAL STRUCTURE
As on :
31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000 |
Equity Shares |
Rs.10/- each |
Rs.7.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 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 |
3.000 |
3.000 |
3.000 |
|
|
2] Share Application Money |
1.500 |
1.500 |
1.500 |
|
|
3] Reserves & Surplus |
3.331 |
2.305 |
1.590 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
7.831 |
6.805 |
6.090 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.420 |
0.952 |
0.487 |
|
|
2] Unsecured Loans |
30.337 |
16.595 |
4.099 |
|
|
TOTAL BORROWING |
31.757 |
17.547 |
4.586 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
39.588 |
24.352 |
10.676 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
12.179 |
6.106 |
3.677 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.508 |
0.377 |
0.283 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
50.715 |
39.164 |
18.810 |
|
|
Sundry Debtors |
2.694 |
1.689 |
1.140 |
|
|
Cash & Bank Balances |
3.944 |
3.111 |
1.385 |
|
|
Other Current Assets |
1.932 |
0.796 |
0.000 |
|
|
Loans & Advances |
14.324 |
15.236 |
6.351 |
|
Total
Current Assets |
73.609 |
59.996 |
27.686 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
46.079 |
41.628 |
20.602 |
|
|
Provisions |
0.629 |
0.499 |
0.368 |
|
Total
Current Liabilities |
46.708 |
42.127 |
20.970 |
|
|
Net Current Assets |
26.901 |
17.869 |
6.716 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
39.588 |
24.352 |
10.676 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
48.624 |
30.578 |
24.575 |
|
|
|
Other Income |
0.081 |
0.001 |
0.000 |
|
|
|
TOTAL |
48.705 |
30.579 |
24.575 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Selling Expenses |
2.953 |
2.595 |
1.446 |
|
|
|
Administrative and Financial Expenses |
42.096 |
25.712 |
20.154 |
|
|
|
TOTAL |
45.049 |
28.307 |
21.600 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.656 |
2.272 |
2.975 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.132 |
1.153 |
1.073 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1.524 |
1.119 |
1.902 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.498 |
0.404 |
0.116 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.026 |
0.715 |
1.786 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.305 |
1.590 |
1.785 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
3.331 |
2.305 |
1.590 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
-- |
2.38 |
59.53 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.10 |
2.34 |
7.27 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.13 |
3.66 |
7.74 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.77 |
1.69 |
6.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.16 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
10.01 |
8.77 |
4.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.57 |
1.42 |
1.32 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS :
The Company’s performance during the current year has been satisfactory.
FORM NO. 8
|
Name of the
company |
S C SHAH AND COMPANY PRIVATE LIMITED |
|||||||||||||||||||||
|
Presented By |
S C SHAH AND COMPANY PRIVATE LIMITED And State Bank of Saurashtra Mount Road Branch, Chennai – 600002, |
|||||||||||||||||||||
|
1) Date and description of instrument creating the change |
01.08.2000 Agreement for
overdraft/ cash credit hypothecation of debts and assets for Rs.1.100 Million Letter of
Hypothecation against goods to secure demand cash credit for Rs.1.100
Million. Agreement of
Hypothecation of Movable properties for Rs.0.500 Million Pledge letter in
respect of machines accepted as collateral security for advances. |
|||||||||||||||||||||
|
2) Amount secured by the charge/amount owing on the securities of charge |
Cash Credit Rs.1.100 Million Term Loans Rs.0.500 Million
-------------------------- Total Rs.1.600 Millions
-------------------------- |
|||||||||||||||||||||
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
·
All
the company both present and future stock and book debts are charged and
hypothecation to the bank by way of first charge as security for the cash
credit limits of Rs.1.100 Million. This facility is collaterally/
additionally secured by charge over existing and future fixed assets of the
company. ·
All
tangible movable machinery and plant both present and future and all other
fixed assets purchased and to be purchased out of Bank finance of Term Loan
of Rs.0.500 Million |
|||||||||||||||||||||
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Cash Credit Rs.1.100 Million Term Loans Rs.0.500 Million
-------------------------- Total Rs.1.600 Millions
-------------------------- Cash Credit Facility: Interests will be
charged at 16.25% p.a. with quarterly rests with a minimum of 3.75% over the
PLR of the Bank. Term Loan facility: Interests will be
charged at 16.25% with quarterly rests with a minimum of 3.75% over the PLR
of the Bank. The term loan is
repayable in 60 monthly installments. All other terms
and conditions are as per the agreement |
|||||||||||||||||||||
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of Saurashtra |
|||||||||||||||||||||
|
6) Date and brief description of instrument modifying the charge |
13.03.2004 Letter of
Hypothecation against goods to secure demand cash credit Agreement for
overdraft/ cash credit (Hypothecation of
Book debts and assets) Both dated 13th
March, 2004 and relate to one and the same modifications. |
|||||||||||||||||||||
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
In addition to the
existing cash credit limit of Rs.2.100 Millions the company is presently
sanctioned further cash and credit limit of Rs.1.400 Million and hence the
cash credit limit has now been enhanced to Rs.3.500 Millions Due to the above
the overall limit has been increased from Rs.3.600 Millions to Rs.5.000
Millions along with existing term loan of Rs.0.500 Million and Medium term
loan of Rs.1.000 Million The Break-up of
the overall limit of Rs.5.00 Millions is as under: ( Rs. Is Millions)
Interests Rate,
Margin and Security for the cash Credit Limit: 3% above PLR basis
presently the effective rate works out to 14% p.a. with monthly rests. Margin: 30% All tangible
movable property such as products stock in trade and goods of the company
which now or hereafter from time to time during this security shall be brought
in stored or be in or about the premises or godowns of the company at Chennai
or any where else and all the present and future book debts, outstanding,
money receivable. |
|
Corporate
identity number of the company |
U51909TN2000PTC044965 |
|
Name of the
company |
S C Shah and Company Private Limited |
|
Address of the
registered office or of the principal place of business in |
518, Anna Salai, Teynampet, Chennai – 600018, |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Others Credit Cards
Receivable |
|
Particular of
charge holder |
HDFC Bank
Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai –
400013, Maharashtra, India |
|
Nature of instrument
creating charge |
Deed of
Hypothecation |
|
Date of
instrument Creating the charge |
09.03.2010 |
|
Amount secured by
the charge |
Rs. 15.500
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate of
interest : Interest at the
rate as may be communication by the bank from time to time. ·
Terms
of repayment : On demand ·
Margin
: As may be
stipulated by the bank from time to time ·
Extent
and operation of the charge : Hypothecation by
way of Exclusive first charge on Receivables of the company as describes
under Item No. 15 Below as security for repayment of loan together with all
interest, charges, fees, penalty, taxes and any other expenses payable to the
Bank of the borrower. ·
Others
: Nil |
|
Short Particulars
of the property charged |
Hypothecation by
way exclusive first charge on the present and future receivables of the
company |
FIXED ASSETS:
·
Plant and Machinery
·
Electrical Fittings
·
Air Conditioner
·
Furniture and Fittings
·
Motor Car/ Vehicles
·
Computer System
WEBSITE DETAILS:
PROFILE
Subject, is prominent retailer in Home appliances and Home entertainment in
Chennai, in the business since 1944. This family run retail business has seen
evident growth and rapid expansion in the last six decades.
It was in the year
2000 that Mr.Virendra.S.Shah, Managing Director, invested in a new business
model registering the company as S.C Shah and Company Private Limited, with the
corporate office in T.Nagar. The same year the business saw a major
breakthrough with its expansion from a single store to 3 stores within the
city. Currently they have 6 stores located in prime locations in the city like
T. Nagar, Adyar and Anna Nagar, a total of 20,000 sq. ft of sheer shopping
experience.
Showcasing only
the top national and international brands like Samsung, Sony, LG, Whirlpool,
Godrej etc, Shahs has fiercely fought competition by offering competitive
prices and unmatched offer, thus achieving a distinct position in the Chennai
market as a value for money brand. Shahs strategic store locations and ambience
of the stores (exterior and interior) has added to the equity of the brand.
In the year 2004
the brand S.C Shah was repositioned as Shahs, with foresight of the changing
market trends and the potential that retailing had to offer. Pitching the new
Shahs in the market with a brand new look it also moved to the tagline -
Celebrate Life. With this promise Shahs offers their customers a more holistic
experience, which is what retailing is all about, today.
As a part of the
brand building exercise they took to intense advertising which set Shahs as a
trend setter in advertising - Retail, Home appliance category, in the Chennai
market. Today, Shahs as a brand has woven its way into the mind's of the
customers ever a 'the obvious choice when it comes to home appliances'.
With the market
opening up and the city's geography going through significant changes Shahs
envisions to capture the virgin markets by opening new stores in emerging
townships around Chennai like in ECR, Ambattur, etc. and Shahs is all set to go
places, to anywhere their customer are.
The significant
growth in the business is reflected in the figures, a $2 million company to
approximately $15 million company in 2007 - 2008. Through constant innovation
and adaptation to suit the new consumer treads, the business is today equipped
to see greater height in the retail boom.
BRANDS ASSOCIATED WITH
THEM
·
Sony
·
Samsung
·
LG
·
Whirlpool
·
IFB
·
Haier
·
Kenstar
·
Panasonic
·
Philips
·
Videocon
·
·
Godrej
·
·
Onida
·
Sansui
·
Tata Sky
·
Dish TV
·
Worldspace
·
Indesit
·
Sharp
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. 44.97 |
|
|
1 |
Rs. 73.35 |
|
Euro |
1 |
Rs. 63.98 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
29 |
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.