MIRA
INFORM REPORT
|
Report Date : |
24.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
SUPERGEMS (INDIA) PRIVAE LIMITED (w.e.f.21.10.2003) |
|
|
|
|
Formerly Known
As : |
FABDIAM IMPEX PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1404-Panchratna, M P Marg, Opera House, Mumbai-400004, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
06.06.2000 |
|
|
|
|
Com. Reg. No.: |
11-127019 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 247.774 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36910MH2000PTC127019 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS39963A MUMF02664E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF4627R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Importer, Exporter, Wholesaler and Retailer of Polished Diamonds
as well as Rough Diamonds |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1900000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject belongs to the Supergems Group. It is an established company
having moderate track. There appear huge external borrowings during 2011. The sales turnover has increased during this year but there appears
some dip in the profitability. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
P4 (Export Post – Shipment Credit) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
31.03.2010 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
1404-Panchratna, M P Marg, Opera House, Mumbai-400004, Maharashtra,
India |
|
Tel. No.: |
91-22-23680063 / 23638063 |
|
Fax No.: |
91-22-23682752 |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2011
|
Name : |
Mr. Nikhilkumar Ambalal Shah |
|
Designation : |
Director |
|
Address : |
3rd Floor, Shanti Niwas, 269, Deodhar Road, Matunga,
Mumbai-400019, Maharashtra, India |
|
Date of Birth/Age : |
15.02.1938 |
|
Date of Appointment : |
06.06.2000 |
|
DIN No.: |
00142223 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U51400MH1994PTC077969 |
FABULA
TRADING COMPANY PRIVATE LIMITED |
Director |
26/06/1995 |
26/06/1995 |
Active |
NO |
|
2 |
U51398MH1996PTC096116 |
DIAM
CIRCLE MANUFACTURING PRIVATE LIMITED |
Director |
05/02/1996 |
05/02/1996 |
Active |
NO |
|
3 |
U36911MH1996PTC096061 |
SUPERGEMS
JEWELLERY MANUFACTURING PRIVATE LIMITED |
Director |
05/02/1996 |
05/02/1996 |
Active |
NO |
|
4 |
U36910MH2000PTC127019 |
SUPERGEMS
(INDIA) PRIVATE LIMITED |
Director |
06/06/2000 |
06/06/2000 |
Active |
NO |
|
Name : |
Mr. Rahul Pari Pradip |
|
Designation : |
Director |
|
Address : |
Flat No.16, Plot No.48, Ajit Building, Road No.2, Sion (East), Mumbai-400022,
Maharashtra, India |
|
Date of Birth/Age : |
28.09.1973 |
|
Date of Appointment : |
06.06.2000 |
|
DIN No.: |
00142348 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U36911MH1996PTC096061 |
SUPERGEMS
JEWELLERY MANUFACTURING PRIVATE LIMITED |
Director |
31/12/1999 |
31/12/1999 |
Active |
NO |
|
2 |
U51400MH1994PTC077969 |
FABULA
TRADING COMPANY PRIVATE LIMITED |
Director |
30/05/2000 |
30/05/2000 |
Active |
NO |
|
3 |
U36910MH2000PTC127019 |
SUPERGEMS
(INDIA) PRIVATE LIMITED |
Director |
06/06/2000 |
06/06/2000 |
Active |
NO |
|
4 |
U51398MH1996PTC096116 |
DIAM
CIRCLE MANUFACTURING PRIVATE LIMITED |
Director |
08/12/2003 |
08/12/2003 |
Active |
NO |
|
Name : |
Mr. Devang Mahendra Shah |
|
Designation : |
Director |
|
Address : |
Saprem 20, Navyug Co-operative Housing Society, Juhu, Vile Parle,
Mumbai-400056, Maharashtra, India |
|
Date of Birth/Age : |
01.11.1971 |
|
Date of Appointment : |
10.11.2003 |
|
DIN No.: |
00151085 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U36910MH2000PTC127019 |
SUPERGEMS
(INDIA) PRIVATE LIMITED |
Director |
10/11/2003 |
10/11/2003 |
Active |
NO |
|
2 |
U51398MH1996PTC096116 |
DIAM
CIRCLE MANUFACTURING PRIVATE LIMITED |
Director |
09/01/2008 |
09/01/2008 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2011
|
Names of Equity Shareholders |
No. of Shares |
|
Nikhilkumar Ambalal Shah |
1 |
|
Rahul Pari Pradip |
1 |
|
Fibula Holdings, Mauritius |
2939790 |
|
TOTAL
|
2939792 |
AS ON 29.09.2011
|
Names of Preference Shareholders |
No. of Shares |
|
Fibula Holdings, Mauritius |
21837654 |
|
TOTAL
|
21837654 |
AS ON 29.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer, Exporter, Wholesaler and Retailer of Polished
Diamonds as well as Rough Diamonds |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
|
|
|
|
|
Cut and Polished Diamonds Carats |
-- |
14544.12 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
Union Bank of India, Overseas Branch, Union Bank
Bhavan, 239, Vidhan Bhavan, Nariman Point, Mumbai-400021, Maharashtra, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chhotalal H Shah and Company Chartered Accountant |
|
Address : |
Damodar Mansion, 1st Floor, 15 A. K. Naik Marg, Fort,
Mumbai-400101, Maharashtra, India |
|
Tel No.: |
91-22-22011787 / 22019193 |
|
Fax No.: |
91-22-22053529 |
|
Email : |
|
|
PAN No.: |
AAAFCI492J |
|
|
|
|
Holding Company : |
Fibula Holdings, Mauritius |
|
|
|
|
Other Related Parties : |
·
Supergems M. E. Limited ·
Supergems N. V. ·
Supergems Far East Limited ·
Supergems Jewellery Manufacturing Private Limited ·
Diam Circle Manufacturing Private Limited ·
Fibula Trading Company Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20250000 |
Equity Shares |
Rs.10/- each |
Rs. 202.500 Millions |
|
22000000 |
Preference Shares |
Rs.10/- each |
Rs. 220.000 Millions |
|
|
TOTAL |
|
Rs. 422.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2939790 |
Equity Shares |
Rs.10/- each |
Rs. 29.398
Millions |
|
21837654 |
Preference Shares |
Rs.10/- each |
Rs. 218.376
Millions |
|
|
TOTAL |
|
Rs. 247.774 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 |
247.774 |
230.034 |
230.034 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
257.981 |
89.442 |
89.442 |
|
|
4] (Accumulated Losses) |
(14.366) |
(117.166) |
(232.774) |
|
|
NETWORTH |
491.389 |
202.310 |
86.702 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
242.135 |
157.719 |
113.061 |
|
|
2] Unsecured Loans |
89.300 |
90.280 |
101.900 |
|
|
TOTAL BORROWING |
331.435 |
247.999 |
214.961 |
|
|
DEFERRED TAX LIABILITIES |
8.607 |
7.347 |
6.524 |
|
|
|
|
|
|
|
|
TOTAL |
831.431 |
457.656 |
308.187 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
195.669 |
197.098 |
205.971 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1369.948
|
993.055 |
969.725 |
|
|
Sundry Debtors |
672.596
|
430.655 |
207.728 |
|
|
Cash & Bank Balances |
49.931
|
33.109 |
25.117 |
|
|
Other Current Assets |
0.272
|
0.521 |
0.000 |
|
|
Loans & Advances |
86.376
|
53.346 |
52.004 |
|
Total
Current Assets |
2179.123
|
1510.686 |
1254.574 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1461.975
|
1195.645 |
1112.690 |
|
|
Other Current Liabilities |
1.820
|
1.681 |
1.298 |
|
|
Provisions |
80.277
|
52.802 |
39.065 |
|
Total
Current Liabilities |
1544.072
|
1250.128 |
1153.053 |
|
|
Net Current Assets |
635.051
|
260.558 |
101.521 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.711 |
0.000 |
0.695 |
|
|
|
|
|
|
|
|
TOTAL |
831.431 |
457.656 |
308.187 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2576.911 |
1471.633 |
1122.404 |
|
|
|
Other Income |
NA |
7.634 |
10.178 |
|
|
|
TOTAL (A) |
NA |
1479.267 |
1132.582 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Cost |
|
1315.356 |
983.613 |
|
|
|
(Increase) / Decrease in Stock |
|
12.978 |
16.275 |
|
|
|
Manufacturing and Other Expenses |
|
37.076 |
32.165 |
|
|
|
Administrative Expenses |
|
71.194 |
50.694 |
|
|
|
Loss on Machinery Sale |
|
0.000 |
0.050 |
|
|
|
Exchange Difference |
|
(123.522) |
348.367 |
|
|
|
TOTAL (B) |
NA |
1313.082 |
1431.164 |
|
|
|
|
|
|
|
|
Less |
PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
|
166.185 |
(298.582) |
|
|
|
|
NA |
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
16.323 |
21.138 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
149.862 |
(319.720) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
13.173 |
10.706 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
NA |
136.689 |
(330.426) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
24.222 |
1.149 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
102.798 |
112.467 |
(331.575) |
|
|
|
|
|
|
|
|
|
|
EXCESS / (SHORT)
PROVISION OF TAX |
NA |
(3.142) |
(0.023) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
(232.775) |
98.777 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
(117.166) |
(232.775) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
2308.542 |
1311.017 |
1058.998 |
|
|
TOTAL EARNINGS |
2308.542 |
1311.017 |
1058.998 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Diamonds |
2521.705 |
1327.439 |
826.834 |
|
|
|
Consumables |
0.272 |
0.365 |
0.265 |
|
|
|
Capital Goods |
1.290 |
2.066 |
2.154 |
|
|
TOTAL IMPORTS |
2523.267 |
1329.870 |
829.253 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
34.97 |
96.48 |
(284.44) |
|
%20PRIVATE%20LIMITED%20-%20191332%2024-Aug-2012_files/image001.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
7.60 |
(29.28) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
9.29 |
(29.44) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
8.00 |
(22.62) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.68 |
(3.81) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.83
|
7.44 |
15.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41
|
1.21 |
1.09 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming financial
year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth
of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
OPERATIONS
During the year, the
Company has made net profit of 102.798 Millions (Previous year net Profit of
112.466 Millions) and the same has been transferred to Balance Sheet.
The Turnover of
the company has risen to 2576.911 Millions in the current year as against
1471.633 Millions in Previous Year. However, in view of carried forward losses,
the Directors do not recommend any dividend.
Directors are
hopeful of improving further in the coming years.
The particulars with
respect to conservation of energy, technology absorption are not applicable.
There is a foreign exchange outgo of value in 2533.117 Millions and there is
foreign exchange earning of value in 1969.641 Millions the year.
FIXED ASSETS
·
Factory Land
·
Office / Factory
Equipments
·
Furniture and Fixtures
·
Computer System
·
Air Conditioners
·
Machinery
·
Office Premises
·
Factory Building
·
Vehicles
·
Office Space at Bharat
Diamond Bourse
·
Office Space at Gujarat
Heera Bourse
WEBSITE DETAILS
DIAMOND INDUSTRY –
INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
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The achievement of the Indian diamond industry was possible
only due to combination of the manufacturing skills of the Indian workforce and
the untiring and unflagging efforts of the Indian diamantaires, supported by
progressive Government policies.
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The area of study of family owned diamond businesses derives
its importance from the huge conglomerate of family run organizations which
operate in the diamond industry since many generations.
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Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
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Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
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The diamond jewellery industry in India today may be
more than Rs 60000 mil and is rated amongst the fastest growing in the world.
Indi ranks third in the world in domestic diamond consumption.
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Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
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Excerpts from Times of India dated 30th
October 2010 is as under –
DIAMOND
SAGA – DIRTY DOZEN STUCK WITH 2K CR DEBT
This could be the biggest credibility crisis
the Indian diamond industry has ever faced. Fifteen banks run the risk of
losing Rs 20000.000 Millions lent to a dozen diamond firms in Surat. Until
about two months ago, they had not repaid these dues. Bankers believe many
diamantaires borrowed money during the economic downturn two years ago and
diverted funds to businesses like real estate and capital markets. Many of
themselves made money from these businesses but their diamond companies have
gone sick and declared insolvency.
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Most of the money borrowed from the banks in the name
of their diamond business has been diverted in real estate and the share
market. The banks are not in a position to seize their properties because in
many cases, these were purchased in the name of their relatives and friends.
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. 55.18 |
|
|
1 |
Rs. 87.65 |
|
Euro |
1 |
Rs. 69.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
35 |
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.