x
|
Report Date : |
16.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
SIPRA ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
93 A, Mittal Tower, Nariman Point, Mumbai-400021, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
01.08.1978 |
|
|
|
|
Com. Reg. No.: |
11-020543 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 25.628 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28920MH1978PTC020543 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMS35316B MUMS16378F MUMS17615D NSKS04375A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS5748N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Pressure Diecastings.
|
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a well established company having satisfactory track. The
company is doing well. 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.
INFORMATION PARTED BY
|
Name : |
Mr. N. S. Jain |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-22834520 |
|
Date : |
15.02.2012 |
LOCATIONS
|
Registered Office / Corporate Office : |
93 A, Mittal Tower, Nariman Point, Mumbai-400021, Maharashtra |
|
Tel. No.: |
91-22-22834520 / 22824421 / 22831501 |
|
Fax No.: |
91-22-22885043 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory : |
34/C, MIDC, Satpur, Nashik-422007, Maharashtra, India |
|
Tel. No.: |
91-253-6610666 |
|
Fax No.: |
91-253-6610659 |
|
E-Mail : |
|
|
|
|
|
VCC Unit : |
E/62, MIDC, Satrpur, Nasik-422007, Maharashtra, India |
|
Tel. No.: |
91-253-6603357 |
|
Fax No.: |
91-253-6603359 |
DIRECTORS
AS ON 06.07.2011
|
Name : |
Ms. Vandan Sitaram Shah |
|
Designation : |
Managing Director |
|
Address : |
2 Prabhat, 28 B Road, Churchgate, Mumbai-400020, Maharashtra, India |
|
Date of Birth/Age : |
23.06.1962 |
|
Date of Appointment : |
25.02.1981 |
|
DIN No.: |
00759570 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U28920MH1978PTC020543 |
SIPRA
ENGINEERS PRIVATE LIMITED |
Managing
director |
25-02-81 |
25-02-81 |
- |
Active |
NO |
|
2 |
L99999MH1992PLC066412 |
RISHI
LASER LIMITED |
Director |
24-12-05 |
24-12-05 |
- |
Active |
NO |
|
3 |
U27300MH1996PTC098025 |
VEENA
CASTINGS AND COMPONENTS PRIVATE LIMITED |
Director |
28-10-06 |
28-10-06 |
- |
Amalgamated |
NO |
|
4 |
U67120MH1995PTC089788 |
KANTILAL
CHHAAGANLAL SECURITIES PRIVATE LIMITED |
Director |
22-09-08 |
04-07-08 |
12-12-09 |
Active |
NO |
|
5 |
U29260MH1996PTC104710 |
ENS
SPINDLE MANUFACTURING PRIVATE LIMITED |
Director |
01-04-11 |
01-04-11 |
- |
Active |
NO |
|
Name : |
Ms. Veena Sitaram Shah |
|
Designation : |
Director |
|
Address : |
2 Prabhat, 28 B Road, Churchgate, Mumbai-400020, Maharashtra, India |
|
Date of Birth/Age : |
12.04.1938 |
|
Date of Appointment : |
22.03.1980 |
|
DIN No.: |
00860538 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U28920MH1978PTC020543 |
SIPRA
ENGINEERS PRIVATE LIMITED |
Director |
22-03-80 |
22-03-80 |
Active |
NO |
|
2 |
U74140MH1982PTC028410 |
SIPRA
SERVICES AND INVESTMENTS PRIVATE LIMITED |
Director |
07-10-82 |
07-10-82 |
Active |
NO |
|
3 |
U27200MH1969PTC014223 |
VEENA
DIE CASTERS AND ENGINEERS PRIVATE LIMITED |
Director |
28-10-06 |
28-10-06 |
Active |
NO |
|
4 |
U28900MH1982PTC026866 |
VANULA
TOOLS AND MOULDS PRIVATE LIMITED |
Director |
23-06-07 |
23-06-07 |
Active |
NO |
|
Name : |
Mr. Sitaram Baldeodas Shah |
|
Designation : |
Director |
|
Address : |
2 Prabhat, 28 B Road, Churchgate, Mumbai-400020, Maharashtra, India |
|
Date of Birth/Age : |
07.05.1937 |
|
Date of Appointment : |
25.02.2008 |
|
DIN No.: |
00860423 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U27200MH1969PTC014223 |
VEENA
DIE CASTERS AND ENGINEERS PRIVATE LIMITED |
Managing
director |
01-03-69 |
01-03-69 |
Active |
NO |
|
2 |
U28900MH1982PTC026866 |
VANULA
TOOLS AND MOULDS PRIVATE LIMITED |
Director |
05-04-82 |
05-04-82 |
Active |
NO |
|
3 |
U74140MH1982PTC028410 |
SIPRA
SERVICES AND INVESTMENTS PRIVATE LIMITED |
Director |
07-10-82 |
07-10-82 |
Active |
NO |
|
4 |
U27100MH1988PTC048666 |
NEVATIA
STEEL AND ALLOYS PRIVATE LIMITED |
Director |
30-09-89 |
30-09-89 |
Active |
NO |
|
5 |
U27300MH1996PTC098025 |
VEENA
CASTINGS AND COMPONENTS PRIVATE LIMITED |
Director |
12-03-96 |
12-03-96 |
Amalgamated |
NO |
|
6 |
U28920MH1978PTC020543 |
SIPRA
ENGINEERS PRIVATE LIMITED |
Director |
25-02-08 |
25-02-08 |
Active |
NO |
|
7 |
U29260MH1996PTC104710 |
ENS
SPINDLE MANUFACTURING PRIVATE LIMITED |
Additional
director |
21-06-11 |
21-06-11 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. N. S. Jain |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 06.07.2011
|
Names of Shareholders |
No. of Shares |
|
Sitaram B Shah |
174200 |
|
Veena Shah |
335120 |
|
Sitaram B Shah (HUF) |
380040 |
|
Vandan S Shah |
378000 |
|
Veena Diecasters and Engineers Private Limited, India |
120000 |
|
Sipra Services and Investments Private Limited, India |
555000 |
|
Vandan S Shah |
130360 |
|
Sitaram B Shah |
80 |
|
Veena S Shah |
190000 |
|
Sitaram B Shah |
95000 |
|
Sitaram B Shah |
105000 |
|
Vandan S Shah |
100000 |
|
Total |
2562800 |
AS ON 06.07.2011
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
26.34 |
|
Directors or relatives of Directors |
73.66 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pressure Diecastings |
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Products : |
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Terms : |
|
||||||
|
Selling : |
Cash and Credit |
||||||
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|
||||||
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Aluminum Pressure Die cast Components |
MT |
3500 |
3500 |
1554.69 |
|
Moulds for Diecastings |
Nos. |
50 |
50 |
27 |
GENERAL INFORMATION
|
Suppliers : |
·
Sandco |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Customers : |
Wholesalers and Retailers ·
Tata |
|||||||||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
100 (Approximately) |
|||||||||||||||||||||||||||||||||||||||
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|
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|
Bankers : |
State Bank of India, Satpur Industrial area, MIDC, Plot No.7,
Nasik-422007, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||
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Facilities : |
|
|||||||||||||||||||||||||||||||||||||||
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|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D. M. Negandhi and Company Chartered Accountant |
|
Address : |
115, Churchgate Chambers, 5, New Marine Lines, Mumbai-400021,
Maharashtra, India |
|
Pan No.: |
AABPN4912M |
|
|
|
|
Associates : |
·
Veena Diecasters and Engineers Private Limited ·
Sipra Services and Investments Private Limited ·
Sipra Services ·
Vanula and Company |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2562800 |
Equity Shares |
Rs.10/- each |
Rs. 25.628
Millions |
|
|
|
|
|
NOTES:
OF THE ABOVE
1) 372200 Equity shares of Rs.10/- each were allotted as dully paid up Bonus
Shares by Capitalization of General Reserve in F.Y. 1995-96
2) 1281400 Equity shares of Rs. 10/- each were allotted as fully paid up
Bonus Shares by Capitalization of Security Premium account Rs. 8.514 Millions
and General Reserves Rs. 4.300 Millions in F. Y. 2009-10.
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 |
25.628 |
25.628 |
12.814 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
289.754 |
221.969 |
186.563 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
315.382 |
247.597 |
199.377 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
6.097 |
6.565 |
|
|
2] Unsecured Loans |
14.346 |
26.251 |
17.590 |
|
|
TOTAL BORROWING |
14.346 |
32.348 |
24.155 |
|
|
DEFERRED TAX LIABILITIES |
12.296 |
12.568 |
14.498 |
|
|
|
|
|
|
|
|
TOTAL |
342.024 |
292.513 |
238.030 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
123.711 |
96.784 |
99.466 |
|
|
Capital work-in-progress |
6.197 |
2.000 |
3.540 |
|
|
|
|
|
|
|
|
INVESTMENT |
91.335 |
20.941 |
81.807 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
23.903
|
15.385 |
20.866 |
|
|
Sundry Debtors |
108.485
|
76.568 |
74.492 |
|
|
Cash & Bank Balances |
15.714
|
9.565 |
3.222 |
|
|
Other Current Assets |
0.068
|
0.038 |
0.117 |
|
|
Loans & Advances |
76.053
|
151.620 |
39.007 |
|
Total
Current Assets |
224.223
|
253.176 |
137.704 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
39.507
|
37.206 |
40.116 |
|
|
Other Current Liabilities |
23.325
|
9.260 |
7.758 |
|
|
Provisions |
40.730
|
34.208 |
36.866 |
|
Total
Current Liabilities |
103.562
|
80.674 |
84.740 |
|
|
Net Current Assets |
120.661
|
172.502 |
52.964 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.120 |
0.286 |
0.253 |
|
|
|
|
|
|
|
|
TOTAL |
342.024 |
292.513 |
238.030 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
541.541 |
376.880 |
428.649 |
|
|
|
Other Income |
19.266 |
18.916 |
10.922 |
|
|
|
TOTAL (A) |
560.807 |
395.796 |
439.571 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
180.849 |
121.944 |
160.846 |
|
|
|
Manufacturing Expenses |
185.769 |
120.168 |
109.171 |
|
|
|
Personnel Expenses |
46.983 |
38.882 |
34.438 |
|
|
|
Administrative, Selling and Other Expenses |
22.428 |
18.766 |
23.210 |
|
|
|
Increase / (Decrease) in Stocks |
(2.820) |
0.480 |
5.458 |
|
|
|
TOTAL (B) |
433.209 |
300.240 |
333.123 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
127.598 |
95.556 |
106.448 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.760 |
0.684 |
1.392 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
125.838 |
94.872 |
105.056 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17.558 |
15.680 |
14.885 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
108.280 |
79.192 |
90.171 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
34.668 |
26.270 |
29.306 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
73.612 |
52.922 |
60.865 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
24.253 |
26.392 |
24.925 |
|
|
|
|
|
|
|
|
|
Less |
INCOME
TAX FOR EARLIER YEARS |
0.434 |
0.003 |
0.025 |
|
|
Add |
PRIOR
YEAR ADJUSTMENT |
0.669 |
0.172 |
0.126 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
45.000 |
50.000 |
55.002 |
|
|
|
Proposed Dividend |
4.485 |
4.485 |
3.844 |
|
|
|
Tax on Dividend |
0.745 |
0.745 |
0.653 |
|
|
BALANCE CARRIED
TO THE B/S |
47.870 |
24.253 |
26.392 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
136.446 |
82.858 |
144.560 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
28.72 |
25.41 |
23.75 |
|
Expected Sales (2011-2012) : Rs. 750.000 Millions
The above information has been parted by Mr. N. S. Jain.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total
Income |
(%) |
13.13
|
13.37 |
13.85 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
19.99
|
21.01 |
21.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
31.12
|
22.63 |
38.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.32 |
0.45 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.41
|
0.51 |
0.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.17
|
3.14 |
1.63 |
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. Constructions 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 |
Yes |
|
13. Reasons for variation <> 20% |
No |
|
14. Estimation for coming financial year |
Yes |
|
15. Capital in the business |
Yes |
|
16. Details of sister concerns |
Yes |
|
17. Major suppliers |
Yes |
|
18. Major customers |
Yes |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
Yes |
|
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 |
------ |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Sundry Creditors for Goods, Services and Expenses Micro Small and
Medium Enterprises |
0.000 |
0.074 |
1.136 |
|
Others |
39.507 |
37.132 |
38.980 |
|
Total |
39.507 |
37.206 |
40.116 |
REVIEW OF
OPERATIONS:
During the year
the turnover of the Company is Rs. 541.541 millions as against Rs. 395.673 millions
in the previous year. The operations resulted in Gross Profit (before interest,
depreciation and tax) of Rs. 127.597 millions as against Rs. 95.556 millions in
the previous year and Net Profit of Rs. 73.612 millions as against Net profit of
Rs. 52.923 millions in the previous year Barring unforeseen circumstances the
Company is expected to do better during the current financial year. In terms of
Industrial Relations, the Company continued to enjoy industrial harmony in its
business operations in all locations.
EXPANSION:
The Company has
plans for expansion of Manufacturing activity to enhance the production
capacity and volume of business of the Company. With this view in mind the Company
has acquired Land at Sinnar and is in the process of constructing the Factory
Building and acquiring the New Plant and Machinery for 3RD Plant.
For the same the total cost of the projected expansion is estimated to be Rs.50.000
millions. The Company has also explored possibilities of investing in
businesses/ facilities in the same industrial area which when concluded will
enhance further business prospects.
CONTINGENT
LIABILITIES / CAPITAL COMMITMENTS NOT PROVIDED FOR: CONTINGENT LIABILITIES IN
RESPECT OF (AS ON 31.03.2011)
a)
Guarantees given by the SBI Satpur Branch for which
the Company has executed counter Guarantees Rs. 4.900 Millions (Previous year
Rs. 0.061 million)
b)
Estimated amount of unexecuted capital contracts
Net of advances and deposits Rs. Nil (Previous year Rs. Nil)
c)
HDFC bill discounting facility up to Rs. 30.000
Millions, amount of bills discounted and outstanding Rs. 1.038 millions.
TRADE REFRENCES
·
TATA
·
Sandco
FIXED ASSETS
·
Building
·
Plant and Machinery
·
Motor Vehicles
·
Furniture and Fixtures
·
Office Equipments
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. 49.25 |
|
|
1 |
Rs. 77.45 |
|
Euro |
1 |
Rs. 64.89 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.