MIRA
INFORM REPORT
|
Report Date : |
09.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHALCOT MACHINIQUE PRIVATE LIMITED |
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Registered
Office : |
C-II/15, Mangal Apartment, Vasundhara Enclave, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
10.11.1994 |
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Com. Reg. No.: |
55-062629 |
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Capital Investment
/ Paid-up Capital : |
Rs.3.900
millions |
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CIN No.: [Company Identification
No.] |
U74899DL1994PTC062629 |
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|
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Rotary Screw Air Compressors, Air Dryers,
Water Chilling Plants and Accessories. |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 119000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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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 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) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Uday |
|
Designation : |
Manager |
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Contact No.: |
91-9212243805 |
|
Date : |
03.02.2012 |
LOCATIONS
|
Registered Office : |
C-II/15, Mangal Apartment, Vasundhara Enclave, |
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Tel. No.: |
91-11-47050400 |
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Mobile No.: |
91-9560754222 (Mr. Bharat) 91-9212243805 (Mr. Uday) |
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Fax No.: |
91-11-47050405 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
Building No.B-32, Sector-59, Noida – 301 601, |
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Tel. No.: |
91-120-4696333 (30 lines) |
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Fax No.: |
91-120-4696317/ 4696311 |
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Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Sudhir Moti Lal Kaul |
|
Designation : |
Director |
|
Address : |
C-II/15, Mangal Apartment, Vasundhara Enclave, |
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Date of Birth/Age : |
15.11.1962 |
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Date of Appointment : |
10.11.1994 |
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DIN No.: |
00403112 |
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Name : |
Mrs. Dolly Kaul |
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Designation : |
Director |
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Address : |
C-II/15, Mangal Apartment, Vasundhara Enclave, |
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Date of Birth/Age : |
02.12.1962 |
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Date of Appointment : |
10.11.1994 |
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DIN No.: |
00403152 |
KEY EXECUTIVES
|
Name : |
Mr. Uday |
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Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Sudhir Moti Lal Kaul |
|
376100 |
|
Dolly Kaul |
|
13900 |
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Total |
|
390000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Rotary Screw Air Compressors, Air Dryers,
Water Chilling Plants and Accessories. |
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Exports : |
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Countries : |
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Terms : |
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Selling : |
Depend |
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Purchasing : |
Depend |
GENERAL INFORMATION
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Customers : |
Manufacturer |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
Canara Bank, C-3, Sector 1, Noida – 201 301, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
PARM and SMRN Chartered Accountants |
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Address : |
Office No.403, Block – B, NDM – 1, |
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Tel. No.: |
91-11-47050400-04 |
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Tele Fax No.: |
91-11-47050405 |
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E-Mail : |
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Website : |
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Income-tax
PAN of auditor or auditor's firm : |
AAJFP2311C |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
|
|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
390000 |
Equity Shares |
Rs.10/- each |
Rs.3.900 millions
|
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|
|
|
|
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 |
3.900 |
3.400 |
3.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
25.823 |
11.650 |
4.625 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
29.723 |
15.050 |
7.625 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
9.313 |
5.208 |
5.096 |
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|
2] Unsecured Loans |
15.794 |
12.010 |
1.919 |
|
|
TOTAL BORROWING |
25.107 |
17.218 |
7.015 |
|
|
DEFERRED TAX LIABILITIES |
0.159 |
0.137 |
0.146 |
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TOTAL |
54.989 |
32.405 |
14.786 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
37.787 |
33.852 |
17.011 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
4.102
|
3.926 |
4.665 |
|
|
Sundry Debtors |
61.255
|
22.039 |
15.684 |
|
|
Cash & Bank Balances |
3.170
|
5.074 |
3.343 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
6.316
|
5.003 |
3.877 |
|
Total
Current Assets |
74.843
|
36.042 |
27.569 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
44.549
|
29.614 |
19.097 |
|
|
Other Current Liabilities |
8.505
|
5.337 |
9.753 |
|
|
Provisions |
4.759
|
2.753 |
1.098 |
|
Total
Current Liabilities |
57.813
|
37.704 |
29.948 |
|
|
Net Current Assets |
17.030
|
(1.662) |
(2.379) |
|
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|
|
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|
MISCELLANEOUS EXPENSES |
0.172 |
0.215 |
0.154 |
|
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|
|
|
|
|
|
TOTAL |
54.989 |
32.405 |
14.786 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
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|
|
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|
Income |
137.929 |
109.924 |
92.084 |
|
|
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Other Income |
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TOTAL |
137.929 |
109.924 |
92.084 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
122.417 |
100.889 |
88.268 |
|
|
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
122.417 |
100.889 |
88.268 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
15.512 |
9.035 |
3.816 |
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.143 |
0.859 |
0.953 |
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PROFIT BEFORE
TAX |
14.369 |
8.176 |
2.863 |
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Less |
TAX |
4.696 |
2.751 |
1.084 |
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PROFIT AFTER TAX
|
9.673 |
5.425 |
1.779 |
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|
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|
Earnings Per
Share (Rs.) |
24.80 |
15.96 |
5.93 |
|
Expected Sales (2011-2012): Rs.150.000 millions
The above information has been parted by Mr. Uday (Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
7.01
|
4.94 |
1.93 |
|
|
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|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.76
|
11.70 |
6.42 |
|
|
|
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|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.48
|
0.54 |
0.38 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.79
|
3.65 |
4.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.29
|
0.96 |
0.92 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
5) Type of
Business |
Yes |
|
6) Line of
Business |
Yes |
|
7) Promoter’s
background |
-- |
|
8) No. of
employees |
Yes |
|
9) Name of person
contacted |
Yes |
|
10) Designation
of contact person |
Yes |
|
11) Turnover of
firm for last three years |
Yes |
|
12) Profitability
for last three years |
No |
|
13) Reasons for
variation <> 20% |
-- |
|
14) Estimation
for coming financial year |
Yes |
|
15) Capital in
the business |
Yes |
|
16) Details of
sister concerns |
-- |
|
17) Major
suppliers |
No |
|
18) Major
customers |
No |
|
19) Payments
terms |
Yes |
|
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 |
-- |
|
25) Conduct of
the banking account |
-- |
|
26) Buyer visit
details |
-- |
|
27) Financials,
if provided |
No |
|
28) Incorporation
details, if applicable |
-- |
|
29) Last accounts
filed at ROC |
-- |
|
30) Major
Shareholders, if available |
-- |
FORM 8:
|
Corporate
identity number of the company |
U74899DL1994PTC062629 |
|
Name of the
company |
SHALCOT MACHINIQUE PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
C-II/15, Mangal Apartment, Vasundhara Enclave, E-Mail: sudhir_10159@yahoo.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10134888 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Canara Bank, C-3, Sector 1, Noida – 201 301, E-Mail: shahjindal@gmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Letter evidencing
deposit of title deed |
|
Date of
instrument Creating the charge |
20.10.2011 |
|
Amount secured by
the charge |
Rs.30.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Interest as may
be specified by the bank from time to time Terms of
Repayment: On demand Margin: As per agreement Extent and
Operation of the charge: 100% Others: The above is to
secure OCC/ILC/BG/BUCC Limit |
|
Short particulars
of the property charged |
EMT of property situated
at Plot No.B-32, Sector 59, Noida measuring 800 sq. mtr together with all
buildings. |
|
Particulars of
the present modification |
Extent of
operation of charge over EMT of property situated at Plot No.B-32, Sector 59,
Noida measuring 800 sq. mtr together with all buildings. Stands enhanced from
Rs.20.000 millions to Rs.30.000 millions. Other terms and conditions remain
same. |
FIXED ASSETS:
v A.C. and Cooler
v Cellular
v Electric Fitting
v EPBX
v Fan
v Fax
v Fire Extinguisher
v Generator
v Invertor
v Measuring Equipment
v Pager
v Plant and Machinery
v Refrigerator
v Tools
v UPS
v Water Dispenser
v Water Filer
v Car
v Furniture
v Office Equipment
v Computer
v Software
v Cycle
v
v Land (Factory)
v Land (Greater Noida)
WEBSITE DETAILS:
PROFILE
Subject, situated in
the heart of industrial city 'NOIDA', (U.P.),
Since 1994 in
Subject has executed some of the prestigious projects regarding fuel oil
handling, exhaust stacks/chimneys, boiler packages, complete plant piping and
all other related system in
The latest chilling plants by Subject are designed to work under extreme condition
prevalent in the Indian sub-continen. It is equipped with all critical
components under one single roof.
INFRASTRUCTURE
For the success of
any manufacturing unit, a good infrastructure is very important. Subject has
been infrastructured keeping international standard into consideration with
appropriate transportation and handling of heavy machines. Weather it is
primarily selection of location or designing, process, and instrumentation for
the system in later stages.
Subject is situated in the heart of industrial city
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.49.07 |
|
|
1 |
Rs.78.09 |
|
Euro |
1 |
Rs.65.15 |
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 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.