MIRA INFORM REPORT
|
Report Date : |
27.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered
Office : |
20B, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
16.09.1998 |
|
|
|
|
Com. Reg. No.: |
21-153383 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 157.410 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U00331WB1998PLC153383 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RCHS00811G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECS1926J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Supplier of Iron and Steel Products. |
|
|
|
|
No. of Employees
: |
Not Available |
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 3000000 |
|
|
|
|
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 normal for business dealing 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
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 |
ICRA |
|
Rating |
A4 (Short Term Rating) |
|
Rating Explanation |
This rating are considered to have minimal degree of safety regarding
timely payment of financial obligations. Such instruments carry very high
credit risk and are supectible to default. |
|
Date |
4th March, 2011 |
|
Rating Agency Name |
ICRA |
|
Rating |
LBB+ (Long Term Rating) |
|
Rating Explanation |
This rating are considered to have moderate risk of default regarding
timely servicing of financial obligations. |
|
Date |
4th March, 2011 |
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 / Export Office : |
20B, |
|
Tel. No.: |
91-33 22137518 / 22137519 / 30287541 / 42 / 43 |
|
Fax No.: |
91-33-22137520 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
|
|
Tel. No.: |
91-6532 244182/ 244027 |
|
Tele Fax No.: |
91-6532 244082 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
At Chandwara, District Koderma |
|
E-Mail : |
|
|
|
|
|
Administrative Office : |
Kayani Apartment, 1st Floor Tah Complex, Gandhi Chowck,
Giridh – 815 301, |
|
Tel. No.: |
91-6632 250821 / 250073 |
|
Fax No.: |
91-6532 229326 / 225951 |
|
|
|
|
Branches : |
Located at: ·
Orissa ·
|
DIRECTORS
As on 29.09.2011
|
Name : |
Binod Kumar Agarwala |
|
Designation : |
Director |
|
Address : |
Chowk Bazar, Giridih - 815301, Jharkhand |
|
Date of Birth/Age : |
03.01.1963 |
|
Date of Appointment : |
21.09.1998 |
|
DIN No.: |
00575464 |
|
PAN No.: |
ABPPA0123J |
|
Voter ID No.: |
BR/46/275/174455 |
|
|
|
|
Name : |
Pramod Kumar Agarwala |
|
Designation : |
Director |
|
Address : |
Chowk Bazar, Giridih - 815301, Jharkhand |
|
Date of Birth/Age : |
26.07.1966 |
|
Date of Appointment : |
16.09.1998 |
|
DIN No.: |
00575433 |
|
PAN No.: |
ABPPA0122K |
|
Voter ID No.: |
KDW0090226 |
|
|
|
|
Name : |
Shiv Kumar Agarwala |
|
Designation : |
Director |
|
Address : |
Chowk Bazar, Giridih- 815301, Jharkhand |
|
Date of Birth/Age : |
15.03.1962 |
|
Date of Appointment : |
01.07.2001 |
|
DIN No.: |
00575394 |
|
PAN No.: |
ABPPA0125Q |
|
Voter ID No.: |
KDW0884008 |
|
|
|
|
Name : |
Arun Kumar Agarwala |
|
Designation : |
Managing Director |
|
Address : |
Station Road, Giridih - 815301, Jharkhand |
|
Date of Birth/Age : |
01.08.1960 |
|
Date of Appointment : |
26.07.2004 |
|
DIN No.: |
00575599 |
|
Voter ID No.: |
KDW0090242 |
|
|
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Pramod Kumar Agarwala |
|
821500 |
|
Gopal Kumar Agarwala |
|
146500 |
|
Manoj Kumar Agarwal |
|
13500 |
|
Nawal Kishore Agarwal |
|
23500 |
|
Shakuntala Agarwala |
|
62000 |
|
Urmila Devi Agarwala |
|
44500 |
|
Binod Kumar Agarwala |
|
1217800 |
|
Sudha Agarwala |
|
64900 |
|
Mania Devi Agarwala |
|
112850 |
|
Ramnivas Agarwala |
|
100350 |
|
Barkha Agarwala |
|
191000 |
|
Shiv Kumar Agarwala (H.U.F.) |
|
41000 |
|
Gopal Kumar Agarwala |
|
110000 |
|
Ramnivas Agarwala (H.U.F.) |
|
57500 |
|
Binod Kumar Agarwala (H.U.F.) |
|
80000 |
|
Meghna Agarwala |
|
28000 |
|
Dilip Kharkia |
|
815301 |
|
Atma Ram Agrawal |
|
10000 |
|
Arun Kumar Agarwala (H.U.F.) |
|
106000 |
|
Arun Kumar Agarwala |
|
892500 |
|
Pradip Kumar Agarwala |
|
10000 |
|
Alok Kumar Agarwala |
|
236000 |
|
Lila Devi Agarwala |
|
80600 |
|
Shiv Kumar Agarwala |
|
60000 |
|
Liska Trading Private Limited, |
|
685000 |
|
Marvellous Intra Private Limited, |
|
240000 |
|
Almal Financiers and Consultants Private Limited, |
|
2209000 |
|
Lilac Vinimay Private Limited, |
|
2204000 |
|
Benzmark Credit Capital Private Limited, |
|
1832000 |
|
Pawapuri Mercantile Private Limited, |
|
210000 |
|
Pramod Kumar Agarwala (H.U.F.) |
|
17000 |
|
Meena Agarwala |
|
62000 |
|
Alok Kumar Agarwala (H.U.F.) |
|
18000 |
|
Mubarak Cosmetics Private Limited, |
|
30000 |
|
Dherar Textiles Private Limited, |
|
92000 |
|
Set Square Holdings Private Limited, |
|
2794000 |
|
|
|
|
|
TOTAL |
|
15718301 |
As on 31.03.2011
|
Names of Allottee |
|
No. of Shares |
|
Binod Kumar Agarwala |
|
20000 |
|
Nawal Kishore Agarwala |
|
10000 |
|
Meena Agarwala |
|
14000 |
|
Alok Kumar Agarwala |
|
14000 |
|
Set Square Holdings Private Limited, |
|
2794000 |
|
|
|
|
|
TOTAL |
|
2852000 |
As on 29.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
70.66 |
|
Directors or relatives of Directors |
28.91 |
|
Other top fifty shareholders |
0.43 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Supplier of Iron and Steel Products. |
|
|
|
|
Products : |
·
TMT Bars ·
MS Ingot ·
MS Billets ·
Ferro Manganese ·
Silico Manganese ·
Pig Iron ·
Sponge Iron ·
·
MS Round ·
MS Flat ·
MS Channel ·
MS Joist ·
MS Angle ·
MS Channel ·
Stainless Steel |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
·
State
Bank of |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kedia Agarwal and Associates (Firm) Chartered Accountants |
|
Address : |
Tah Complex, Gandhi Chowk, Giridh– 815 301, |
|
Tel. No.: |
91-6532-222639 |
|
Mobile No.: |
91-9431144160 / 9835505990 |
|
Fax No.: |
91-6532-222639 |
|
E-Mail : |
|
|
PAN No.: |
AACFK6368H |
|
|
|
|
Related Parties: |
·
Satyam Iron and steel Company Private Limited
[CIN No.: U00331WB2000PTC132700] ·
Sundaram Ferro Tech Private Limited [CIN NO.:
U27102WB2004PTC099306] ·
Sundaram Exim Private Limited [CIN NO.:
U51109WB2008PTC125584] ·
Sundaram Alloys Limited [CIN NO.: U23201WB2007PLC118619] ·
Baba Smelters Private Limited [CIN NO.:
U28999WB2003PTC096948] ·
Balaji Commercial Company Private Limited [CIN
NO.: U23109JH1993PTC005217] ·
Satyam Smelters Private Limited [CIN NO.:
U27109WB2004PTC099497] ·
Baba Strip & Tubes Limited [CIN NO.: U27310WB2007PLC114311] |
CAPITAL STRUCTURE
As on 29.09.2011
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs. 10/- each |
Rs. 200.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15741000 |
Equity Shares |
Rs. 10/- each |
Rs. 157.410
millions |
AFTER 29.09.2011
Authorized Capital: Rs. 250.000 millions
Issued, Subscribed &
Paid-up Capital: Rs. 226.109 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 |
157.410 |
128.890 |
110.290 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
611.804 |
460.873 |
363.603 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
769.214 |
589.763 |
473.893 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1277.040 |
658.368 |
432.335 |
|
|
2] Unsecured Loans |
0.000 |
0.00 |
0.000 |
|
|
TOTAL BORROWING |
1277.040 |
658.368 |
432.335 |
|
|
DEFERRED TAX LIABILITIES |
13.347 |
7.405 |
8.296 |
|
|
|
|
|
|
|
|
TOTAL |
2059.601 |
1255.536 |
914.524 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
612.398 |
203.517 |
230.161 |
|
|
Capital work-in-progress |
249.207 |
304.508 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
811.061
|
562.339 |
541.383 |
|
|
Sundry Debtors |
355.309
|
137.036 |
175.708 |
|
|
Cash & Bank Balances |
140.663
|
68.020 |
71.810 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
242.578
|
153.530 |
55.572 |
|
Total
Current Assets |
1549.611
|
920.925 |
844.473 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
325.626
|
146.599 |
141.033 |
|
|
Other Current Liabilities |
25.989
|
26.815 |
19.005 |
|
|
Provisions |
0.000
|
0.000 |
0.109 |
|
Total
Current Liabilities |
351.615
|
173.414 |
160.147 |
|
|
Net Current Assets |
1197.996
|
747.511 |
684.326 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.037 |
|
|
|
|
|
|
|
|
TOTAL |
2059.601 |
1255.536 |
914.524 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2263.968 |
1790.997 |
1769.937 |
|
|
|
Other Income |
38.376 |
26.009 |
70.120 |
|
|
|
TOTAL (A) |
2302.344 |
1817.006 |
1840.057 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Service Costs |
565.038 |
626.002 |
|
|
|
|
Consumption materials changes inventories |
1474.489 |
1044.435 |
|
|
|
|
Employee Related Expenses |
19.084 |
10.132 |
|
|
|
|
Administrative Selling other Expenses |
60.508 |
37.517 |
|
|
|
|
TOTAL (B) |
2119.119 |
1718.086 |
1753.826 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
183.225 |
98.920 |
86.231 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
55.647 |
30.827 |
35.119 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
127.578 |
68.093 |
51.112 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
72.822 |
32.935 |
35.990 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
54.756 |
35.158 |
15.122 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
17.905 |
12.251 |
5.706 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
36.851 |
22.907 |
9.416 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
77.497 |
54.590 |
0.409 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
114.348 |
77.497 |
9.825 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
1002.343 |
851.447 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
363.029 |
370.019 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.86 |
2.07 |
1.37 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.60
|
1.26
|
0.51
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.42
|
1.96
|
0.85
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.53
|
3.13
|
1.41
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.06
|
0.03
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.47
|
1.41
|
1.25
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.29
|
5.31
|
5.27
|
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 |
Yes |
|
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) |
No |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
Yes |
Note:
Registered office of the company has been shifted from Kalyani apartment,
Gandhi Chowk, Giridh– 815 301,
BUSINESS
PERFORMANCE:
The Company
recorded a turnover of Rs. 2577.762 Millions during the year ended 31.03.2011
as against Rs.2146.192 Millions during the previous year. The operating and net
profit before tax of the Company was Rs. 183.225 Millions and Rs.54.756
Millions respectively as against Rs. 98.921 Millions and Rs. 35.159 Millions
during the previous year.
The Company is
continuing its efforts to increase its production levels so as to achieve
higher volumes.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U00331WB1998PLC153383 |
|
Name of the
company |
SHIVAM IRON &
STEEL COMPANY LIMITED |
|
Address of the
registered office or of the principal place of business in |
20B, e-mail: shivam76@rediffmail.com |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
80023081 |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
State Bank Of India,
Overseas Branch, Samriddhi Bhavan, Block - A, 1,Strand Road, Kolkata– 700
001, West Bengal, India e-mail: sbiobcal@cal3.vsnl.net.in |
|
Nature of
instrument creating charge |
Memorandum of
Deposit for Creation of Charge for Overall Limit. |
|
Date of
instrument Creating the charge |
20.03.2012 |
|
Amount secured by
the charge |
Rs. 2070.200
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit: At
4.25% above Base Rate, present effective rate 14.25% p.a. with monthly rests.
Terms of Repayment Working Capital
limit is repayable on Demand. The existing Term
Loans are repayable as per existing terms of Sanction. Margin As stipulated by
the Bank for the respective assets from time to time. Cash Credit : Stocks,
Consumables, Stores, Spares : 25%, Receivables
(Domestic) (Cover period 30 days) : 40%, EPC/PCFC : 10%, Letter of Credit
(Usance period for Import LC-3 months and for Inland LC 2.75 months) : 15%
and Bank Guarantee:
15%. Extent and Operation of the charge The charge
operates as first charge basis on the whole of the mortgaged properties of
the Company to secure the maximum amount under the said charge fixed at Rs.2070.200
millions together with interest, costs and charges thereon. Others The Borrower
shall not do or allow anything which may prejudice the security and shall
comply with the terms and conditions of the Agreements. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Land measuring
30.98 acres and 29.45 dec. situated at Mouza Jambad, Rautgadi, Bandi,
District Giridih & Koderma under Sale Deed No.7008, 6233, 6797, 10371,
853, 4663, 2797, 7166, 7534, 7918, 7089, 761, 7514, 9652, 6799. |
|
Date of
instrument modifying the charge |
19.03.2012 |
|
Particulars of
the present modification |
By this
modification, charge on above mentioned mortgaged properties of the Company situated
at Mouza Jambad, Rautgadi, Bandi, District Giridih & Koderma extended to
secure the enhanced overall limit of Rs.2070.200 millions together with
interest, costs and charges thereon. All other terms
and conditions continue to remain as before in full force and effect. |
FIXED ASSETS:
·
Plant and Machinery
·
Pollution Control
Equipments
·
Furnace
·
·
Weighing Scale
·
Generator
·
Cranes
·
Xerox Machine
·
Projector
·
Fax Machine
·
Metal Detector
·
Laboratory Equipments
·
Air Conditioners
·
Vehicles
·
Mobile Phone
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.55.38 |
|
|
1 |
Rs.87.79 |
|
Euro |
1 |
Rs.69.47 |
INFORMATION DETAILS
|
Report Prepared
by : |
NID |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
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 |
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.