BUSINESS INFORMATION REPORT
1. Summary Information
|
|
|
Country |
|
|
Company Name |
ESS AAR UNIVERSAL
PRIVATE LIMITED |
Principal Name 1 |
MR. SUDHIR FAQUIR
CHAND RUSTAGI |
|
Status |
SATISFACTORY |
Principal Name 2 |
MR. NEERAJ
RUSTAGI |
|
|
|
Registration # |
55-066225 |
|
Street Address |
“BASEMENT”, G-90, PREET VIHAR, |
||
|
Established Date |
31.07.1984 |
SIC Code |
-- |
|
Telephone# |
91-11-22429553 |
Business Style 1 |
MANUFACTURER |
|
Fax # |
91-11-22454528 |
Business Style 2 |
EXPORTER |
|
Homepage |
Product Name 1 |
ELECTRICAL
CONTROL PANELS |
|
|
# of employees |
69
(APPROXIMATELY) |
Product Name 2 |
BUS DUCT |
|
Paid up capital |
RS.50,010,000/- |
Product Name 3 |
STEEL FABRICATED
COMPONENTS |
|
Shareholders |
DIRECTORS OR RELATIVES OF DIRECTORS-99% OTHER TOP FIFTY SHAREHOLDERS-1% |
Banking |
ALLAHABAD BANK |
|
Public Limited Corp. |
NO |
Business Period |
28 YEARS |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
Ba (46) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
SUBSIDIARIES |
|
DEEVA TEXTILES PRIVATE LIMITED |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
64,205,000
|
Current Liabilities |
36,879,000
|
|
Inventories |
25,328,000
|
Long-term Liabilities |
114,886,000 |
|
Fixed Assets |
156,564,000 |
Other Liabilities |
14,686,000
|
|
Deferred Assets |
0,000 |
Total Liabilities |
166,451,000 |
|
Invest& other Assets |
26,125,000 |
Retained Earnings |
55,761,000 |
|
|
|
Net Worth |
105,771,000 |
|
Total Assets |
272,222,000 |
Total Liab. & Equity |
272,222,000 |
|
Total Assets (Previous Year) |
188,713,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
226,552,000 |
Net Profit |
5,618,000 |
|
Sales(Previous yr) |
161,016,000 |
Net Profit(Prev.yr) |
7,581,000 |
MIRA
INFORM REPORT
|
Report Date : |
04.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
ESS AAR UNIVERSAL
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
“Basement”, G-90,
Preet Vihar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
31.07.1984 |
|
|
|
|
Com. Reg. No.: |
55-066225 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.50.010 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U93000DL1984PTC066225 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
KNPE01036A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE5306Q |
|
|
|
|
Legal Form : |
Private Limited
Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and
Exporter of Electrical Control Panels, Bus Duct and Steel Fabricated
Components. |
|
|
|
|
No. of Employees
: |
69
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 423000 |
|
|
|
|
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
considered normal for 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
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 : |
“Basement”, G-90,
Preet Vihar, |
|
Tel. No.: |
91-11-22429553 /
42420328 |
|
Fax No.: |
91-11-22454528 /
91-120-2895951 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Commercial |
|
|
|
|
Administer
Office : |
201, Pankaj
Chamber, Commercial Complex, Preet Vihar, |
|
|
|
|
Factory 1 : |
C-10, Panki
Industrial area-III, |
|
Tel. No.: |
91-512-2692515/2692516 |
|
Fax No.: |
91-512-2692517 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
42300 Sq. ft
(Covered Area – 30,000 Sq. ft), Manufacturing Area – 25000 Sq. ft, Office
Block – Double Storey – 2000 Sq. ft |
|
Location : |
Owned
(Industrial) |
|
|
|
|
Factory 2 : |
A –40/1, Site IV,
Sahibabad Industrial Area, |
|
Tel. No.: |
91-120-2896012/
2896074 |
|
Fax No.: |
91-120-2895951 |
|
E-Mail : |
|
|
Location : |
Industrial |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Sudhir Faquir
Chand Rustagi |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
G-90, Preeti
Vihar, |
||||||||||||||||||||||||
|
Date of Birth/Age : |
17.11.1961 |
||||||||||||||||||||||||
|
Date of
Appointment : |
28.05.1997 |
||||||||||||||||||||||||
|
DIN No.: |
00044916 |
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|
Other
Directorship :
|
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|
|
||||||||||||||||||||||||
|
Name : |
Mr. Neeraj Rustagi |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
Flat No.8,
Shubham Apartment, D-7, Dilshad Colony, |
||||||||||||||||||||||||
|
Date of Birth/Age : |
28.04.1963 |
||||||||||||||||||||||||
|
Date of
Appointment : |
28.05.1997 |
||||||||||||||||||||||||
|
DIN No.: |
00044879 |
||||||||||||||||||||||||
|
Other
Directorship :
|
|||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Bimla Devi
Rustagi |
|
100000 |
|
Devi Dayal
Rustagi |
|
4200 |
|
Faqir Chand
Rustagi |
|
300000 |
|
Kalpana Rustagi |
|
673800 |
|
Sudhir Rustagi |
|
2223500 |
|
Tanmay Rustagi |
|
848700 |
|
Gandharv Rustagi |
|
848700 |
|
Usha Rustagi |
|
2100 |
|
Total |
|
5001000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
99.00 |
|
Other
top fifty shareholders |
|
1.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Exporter of Electrical Control Panels, Bus Duct and Steel Fabricated
Components. |
||||||
|
|
|
||||||
|
Products : |
v ACB and OCB Panels v Annunciator Panels v Automatic Power Factor Improvement Panels v Busbar Trunking Panels v Capacitor Panels v Change Over Panels v Control Desks v Distribution Boards for AC and DC v Feeder Pillars v Fuse Distribution Boards v Local Control Station Panels v Low Tension and High Tension Main Panels v Motor Control Centres v PLC Panels v Power Control Centres v Power Distribution Boards v Push Button Stations v Relay Panels v
Relay
and Metering Panels Generic Names of principal Products of Company
|
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity per annum |
Installed
Capacity per annum |
Actual
Production Qty.
|
|
Sheet Metal Components |
Nos. |
N.A. |
100000 |
34073 |
|
L.T. Electrical Distribution Boards/Panels/MCC’s and Parts of Panels |
Nos. Mtrs. |
N.A. |
45000 |
7323 7.000 |
|
Soles/ Insoles and Slippers |
Pairs |
9000000 |
3150000 |
993581 |
GENERAL INFORMATION
|
No. of Employees : |
69
(Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
v
Allahabad Bank, International Branch, 3rd
Floor, v Punjab National Bank v HDFC Bank Limited v ICICI Bank Limited v
The Bank of Rajasthan Limited, 75/232, v
State Bank of |
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
P.L. Tondon and
Company Chartered
Accountants (Mr. Prithi Pal
Singh) |
|
Address : |
|
|
Tel. No.: |
91-512-2366774/
2317857 |
|
Fax No.: |
91-512-2351560 |
|
PAN No.: |
ACKPB8101H |
|
|
|
|
Subsidiaries : |
Deeva Textiles
Private Limited, CIN No.: U17116DL2006PTC145757 |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5001000 |
Equity Shares |
Rs.10/- each |
Rs.50.010 millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
50.010 |
50.010 |
50.010 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
55.761 |
50.724 |
44.017 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
105.771 |
100.734 |
94.027 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
92.961 |
33.261 |
31.568 |
|
|
2] Unsecured Loans |
21.925 |
3.153 |
3.855 |
|
|
TOTAL BORROWING |
114.886 |
36.414 |
35.423 |
|
|
DEFERRED TAX LIABILITIES |
8.253 |
7.248 |
7.885 |
|
|
|
|
|
|
|
|
TOTAL |
228.910 |
144.396 |
137.335 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
156.564 |
71.629 |
74.642 |
|
|
Capital work-in-progress |
23.017 |
20.920 |
1.075 |
|
|
|
|
|
|
|
|
INVESTMENT |
3.108 |
3.107 |
8.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
25.328
|
18.568
|
12.940
|
|
|
Sundry Debtors |
33.633
|
27.656
|
28.537
|
|
|
Cash & Bank Balances |
6.241
|
16.650
|
16.622
|
|
|
Other Current Assets |
0.009
|
0.902
|
1.419
|
|
|
Loans & Advances |
24.322
|
29.281
|
15.318
|
|
Total
Current Assets |
89.533
|
93.057
|
74.836
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
32.765
|
22.400
|
5.510 |
|
|
Other Current Liabilities |
4.114
|
8.362
|
5.966
|
|
|
Provisions |
6.433
|
13.555
|
9.742
|
|
Total
Current Liabilities |
43.312
|
44.317
|
21.218
|
|
|
Net Current Assets |
46.221
|
48.740
|
53.618
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
228.910 |
144.396 |
137.335 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
226.552 |
161.016 |
203.963 |
|
|
|
Other Income |
NA |
7.994 |
3.816 |
|
|
|
Profit on |
NA |
0.000 |
0.034 |
|
|
|
TOTAL (A) |
NA |
169.010 |
207.813 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Expenses |
NA |
147.609 |
19.662 |
|
|
|
Administrative Expenses |
|
|
7.588 |
|
|
|
Raw Material Consumed |
|
|
118.314 |
|
|
|
Selling and Distribution Expenses |
|
|
4.105 |
|
|
|
Increase/Decrease in Finished Goods |
|
|
3.497 |
|
|
|
Salaries, Wages, Bonus, etc. |
|
|
20.410 |
|
|
|
TOTAL (B) |
NA |
147.609 |
173.576 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
20.855 |
21.401 |
34.237 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.892 |
2.591 |
3.538 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
14.963 |
18.810 |
30.699 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.131 |
7.455 |
7.297 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
7.832 |
11.355 |
23.402 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.214 |
3.774 |
8.487 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5.618 |
7.581 |
14.915 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.724 |
4.018 |
0.565 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
0.500 |
0.750 |
1.250 |
|
|
|
Tax on Dividend |
0.081 |
0.124 |
0.212 |
|
|
|
Transfer to General Reserve |
0.000 |
10.000 |
10.000 |
|
|
BALANCE CARRIED
TO THE B/S |
5.761 |
0.724 |
4.018 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
9.222 |
2.859 |
3.243 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Material, etc. |
5.603 |
2.219 |
12.068 |
|
|
|
Stores & Spares |
1.219 |
0.561 |
0.000 |
|
|
|
Capital Goods |
20.668 |
2.245 |
0.936 |
|
|
TOTAL IMPORTS |
27.490 |
5.025 |
13.004 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.12 |
1.52 |
2.98 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA |
4.49
|
7.18
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.46 |
7.05
|
11.47
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.18 |
6.90
|
14.75
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.11
|
0.25
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.50 |
0.80
|
0.60
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.07 |
2.10
|
3.53
|
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS:
This year’s operations
were very adversely affected due to an accident of fire on 6th
November, 2010 in PU Division of the company in which the company suffered a
net loss of more than 1.380 millions after accounting for the amount received
from Insurance company. Besides the above, it also suffered loss of profit and
working capital for 2 months since it did not have a cover from Insurance on
Loss of Profit.
Further, this
accident affected the relationship with the customers due to the delay in the
deliveries since that was the peak season of the industry. Despite all these
adverse circumstances, the division could achieve cash profits.
Looking to the
grim scenario of the economy and the rise in the cost of Input vis-ŕ-vis
insignificant proportionate increase in the selling prices and thereby
shrinking of margins, the company has embarked on massive marketing initiatives
by shoring up the capacity utilization.
The company had
shifted its complete operations of PU Division out of its rented premises at
Sahibabad to its own new factory premises at Noida named as SOLES Division and
also diversified its product portfolio by offering the customers a wide range
of products at one place. It hopes to achieve substantial increase in its
operational profits in the Financial Year 2012-13 despite the high cost of
borrowings.
The Engineering division of the company has performed well despite all
odds.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2011 (Rs.
in millions) |
|
(i) In respect of bank guarantees against which the company has given
counter guarantees |
1.220 |
|
(ii) In respect of Central Sales Tax |
NIL |
|
(iii) In respect of Income Tax |
0.135 |
Form 8:
|
Corporate
identity number of the company |
U00000DL1984PTC066225 |
|
Name of the
company |
ESS AAR UNIVERAL
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
“Basement”, G-90,
Preet Vihar, E-Mail: info@essaarpu.com |
|
This form is for |
Creation of
Charge |
|
Type of charge |
Book Debts Movable Property Immovable
Property |
|
Particular of
charge holder |
Allahabad Bank,
International Branch, 3rd Floor, 17, E-Mail: albibnd@nda.vsnl.net.in |
|
Nature of
description of the instrument creating or modifying the charge |
General Letter of
Hypothecation Term Loan
Agreement |
|
Date of
instrument Creating the charge |
22.07.2010 |
|
Amount secured by
the charge |
Rs.50.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Floating Rate of Base
Rate at present 8% per annum + 4.5% per annum with monthly rests. Terms of
Repayment On demand Margin 25% - for Cash
Credit (Hypothecation) 20% - for Bank
Guarantee facility 25% - for
Machinery (40% - for Import of IInd hand machinery) Extent and
Operation of the charge Current Assets of
the Engineering and PU Divisions of the company. Fixed Assets of
Engineering Division and only Plat and Machinery of the PU Division of the
company. Others |
|
Short particulars
of the property charged |
Land and Building
Located At C-10, Panki Industrial Area, Site-III, Kanpur-208 022 (U.P.), |
FIXED ASSETS:
v
v Land
v Building
v Plant and Machinery
v Furniture and Fixtures
v Vehicles
website
details:
Company Profile:
Established in
1984, company specialises in manufacturing of complete range of Electrical
Control Panels and Steel fabricated components. Equipped with sophisticated
fabrication machines and SEVEN TANK PROCESS for pretreatment, the unit is
situated in Panki Industrial Area,
The Electrical Panels so manufactured by ESS AAR find applications in almost
every type of industry. The Company enjoys a rare distinction of being an OEM
of Siemens Limited, GEC Alsthom India Limited and Asea Brown Boveri Limited.
The unit had been set up with the genuine intentions of supplying quality
Panels at affordable prices within the required delivery schedule of customers.
There are those big giants who can give quality but then the prices are
unaffordable and deliveries too long to wait for. Then there are those small
fabricators who offer competitive prices but without any commitment to quality
and delivery. At ESS AAR, the philosophy is to supply quality products at
affordable prices within delivery requirements of customers.
The Company counts among its clients prestigious organisations such as LOHIA
GROUP, TELCO, CEAT, RAYMONDS, PHILIPS, BSES, ICI, TOYO ENGINEERING, BHEL,
HINDALCO, HINDUSTAN LEVER LIMITED, FLOUR MILLS, CEMENT PLANTS and various other
reputed industries
Subject a prestigious name in the P.U. Shoe Sole industry has
established itself as a leading player in both the domestic and the
international market through its manufacturing excellence and export
proficiency.
Achievement
They are the first to introduce in
1.
2.Wrinkle-free Leather Micro covered foot bed.
Manufacturing and Production Capacity
Imbibing the best quality system in their products, they also offer
customized range of products on the basis of criteria like weight, density,
comfort, texture, feel (soft/hard) and look (matt/ shiny).
Their present production capacity is 10,500 pairs per day and they are
continuously striving to improvise advance techniques to increase their
manufacturing capacity in the future.
Infrastructure
P.U shoe sole production requires a highly precision technology and
choice of machine is critical to a project's success, which is guided under
thoroughly trained industry professionals.
They employ the latest pouring moulding technology to lend their products with
enhanced performance and high grade finishing.
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.50.56 |
|
|
1 |
Rs.81.05 |
|
Euro |
1 |
Rs.67.49 |
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 |
5 |
|
--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 |
Yes |
|
--AFFILIATION |
YES/NO |
Yes |
|
--LISTED |
YES/NO |
No |
|
--OTHER MERIT FACTORS |
YES/NO |
Yes |
|
TOTAL |
|
46 |
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.