MIRA
INFORM REPORT
|
Report Date : |
28.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
SKS ISPAT AND POWER LIMITED |
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Registered
Office : |
501B, Elegant Business Park, Andheri Kurla Road, J. B. Nagar, Andheri
(East), Mumbai – 400059, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
17.04.2000 |
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Com. Reg. No.: |
11-125893 |
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Capital
Investment / Paid-up Capital : |
Rs.465.704 Millions |
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CIN No.: [Company Identification
No.] |
U27100MH2000PLC125893 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS28171D |
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PAN No.: [Permanent Account No.] |
AAECS3299N |
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Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business
: |
Manufacturer of Structural Steel with integrated
facilities like Power Plant, Steel Melting Shop, Sponge Iron, Rolling Mills
and Coal Washery. |
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|
|
|
No. of Employees
: |
1000 (Approximately) (In Office + In Factory + In Branches) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 24000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track. Financial
position of the company us good. Trade relations are reported as fair.
Business is active. Payments are reported is active. Payments are reported to
be regular and as per commitments. The company cab 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. Sominathan |
|
Designation : |
Account Manager |
|
Contact No.: |
91-22-30807000 |
|
Date : |
25.02.2012 |
LOCATIONS
|
Registered Office : |
501B, Elegant Business Park, Andheri Kurla Road, J. B. Nagar, Andheri
(East), Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-22-30807063 / 30807000 |
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Fax No.: |
91-22-30807070 / 80 |
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E-Mail : |
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Website : |
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Factory 1 : |
Phase-II, Industrial
Growth Centre, Village Siltara, 18th Mile Stone, Bilaspur –Raipur Road,
Raipur-493111, Chattisgarh, India |
|
Tel. No.: |
91-7721-264380 |
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Fax No.: |
91-7721-264378 / 77 |
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E-Mail : |
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Branch Office : |
Located at ·
Gujarat ·
New Delhi ·
Jharkhand |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Anil Mahabir Gupta |
|
Designation : |
Managing director |
|
Address : |
4th Floor, Nirmal Pran\bhu, Road No.7, J.V.P.D. Scheme, Vile
Parle (West), Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
23.11.1968 |
|
Date of Appointment : |
17.04.2000 |
|
DIN No.: |
00046213 |
|
Name : |
Mr. Deepak Gupta |
|
Designation : |
Managing director |
|
Address : |
H No.
B/1, College Ward, Taluka Raipur, District Raipur, Chhattisgarh, India |
|
Date of Birth/Age : |
09.01.1974 |
|
Date of Appointment : |
01.08.2004 |
|
DIN No.: |
00645211 |
|
Name : |
Mr. Prasanna Kumar Mishra |
|
Designation : |
Director |
|
Address : |
Gangotri,
BJ - 26, BJB Nagar, Bhubaneshwar - 751 014, Orissa, India |
|
Date of Birth/Age : |
15.02.1944 |
|
Date of Appointment : |
30.03.2007 |
|
DIN No.: |
00888286 |
|
Name : |
Mr. Ravindranath Ratho |
|
Designation : |
Whole-time director |
|
Address : |
Flat
No. 18, 5th Floor, Somavarapur Towers, Rajbhavan Road, Somajiguda, Hyderabad
- 500 082, Andhra Pradesh, India |
|
Date of Birth/Age : |
25.10.1958 |
|
Date of Appointment : |
29.09.2007 |
|
DIN No.: |
00076468 |
|
Name : |
Mr. Varanasi Janardhan Rao |
|
Designation : |
Director |
|
Address : |
6/2,
Maitri Nagar, Risali, Bhilai, Durg - 491 001, Chhattisgarh, India |
|
Date of Birth/Age : |
27.05.1955 |
|
Date of Appointment : |
24.03.2009 |
|
DIN No.: |
02608883 |
|
Name : |
Mr. Prem Dutt Sharma |
|
Designation : |
Whole-time director |
|
Address : |
A-15
Dhebar Steel Sity, Raipur - 492 001, Chhattisgarh, India |
|
Date of Birth/Age : |
20.03.1958 |
|
Date of Appointment : |
05.10.2009 |
|
Date of Cessation : |
29.10.2011 |
|
DIN No.: |
02874221 |
KEY EXECUTIVES
|
Name : |
Mr. Sominathan |
|
Designation : |
Account Manager |
|
|
|
|
Name : |
Mr. Rajini Kanth Mulugu |
|
Designation : |
Secretary |
|
Address : |
S/2-303,
Malad Kokil CHS. Limited, Sundernagar, S. V. Road, Malad (West), Mumbai - 400
069, Maharashtra, India |
|
Date of Birth/Age : |
22.08.1976 |
|
Date of Appointment : |
01.02.2010 |
|
PAN No.; |
AVTPM9512H |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Anil Gupta |
|
5086000 |
|
Deepak Gupta |
|
14100 |
|
Indo Emirates Building Solutions Private limited, India |
|
1550000 |
|
Lambodar Ispat Private limited, India |
|
1370000 |
|
SKS Minerals & Mining Company Private limited, India |
|
1351400 |
|
Sangeeta Gupta |
|
12000 |
|
Shree Krishna Structures Private limited, India |
|
10376400 |
|
Shares in Demat form |
|
26810450 |
|
Total |
|
46570350 |
As on 30.09.2011
Shares
in Demat form
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Anil Gupta |
|
4100 |
|
Brilliant Dealcomm Private limited, India (Merged with Citywings Agencies Private
limited) |
|
2155350 |
|
Deepak Gupta |
|
4100 |
|
Frontline Dealers Private limited, India
(Merged with Citywings Agencies Private limited) |
|
1500000 |
|
Gupta Steel Corporation Private limited, India |
|
2779900 |
|
Padma Ispat Private limited, India |
|
2307100 |
|
Pratham Vintrade Private limited, India
(Merged with Citywings Agencies Private limited) |
|
2956500 |
|
Sangeeta Gupta |
|
4100 |
|
Shree Krishna Structures Private Limited, India |
|
12357300 |
|
Vighnesh Steels Private Limited, India |
|
2742000 |
|
Total |
|
26810450 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
89.00 |
|
Directors or relatives of Directors |
11.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Structural Steel with integrated
facilities like Power Plant, Steel Melting Shop, Sponge Iron, Rolling Mills
and Coal Washery. |
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Products : |
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Exports : |
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Products : |
Power Plant, Steel Melting Shop, Sponge Iron, Rolling
Mills and Coal Washery. |
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Countries : |
·
UK ·
US ·
Germany ·
Japan ·
France |
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Imports : |
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Products : |
Finished Goods |
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Countries : |
·
Gulf Countries ·
European Country ·
Asian Country
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
PRODUCTION STATUS
As on 31.03.2010
|
Particulars |
Unit |
|
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Sponge Iron |
M.T. |
|
270,000 |
225,121 |
|
Billet / Blooms |
M.T. |
|
345,6000 |
91,904 |
|
Rolled Products |
M.T. |
|
224,000 |
144,673 |
|
TMT / Wire Rod |
M.T. |
|
233,000 |
63,108 |
|
Ferro Alloys Plant |
M.T. |
|
28,300 |
7,286 |
|
Power Plant |
MW / KWH |
|
85MW |
321,97,265KWH |
Notes:
1) In terms of Press Note No.4(1994 series) dated 25.10.1994 issued by the
Department if Industrial Development, Ministry of Industry, Government of
India, industrial licensing has been abolished.
2) Installed capacities, being a technical matter, have not been verified by
the Auditors
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and Manufacturers |
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No. of Employees : |
1000 (Approximately) (In Office + In Factory + In Branches)` |
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Bankers : |
State Bank of India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Kapoor and Parikh Associates Chartered Accountants |
|
Address : |
Zaveri Building, 1st Floor, 157 Princess Street, Mumbai – 400002,
Maharashtra, India |
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PAN.: |
AACPP9863E |
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|
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Holding Company : |
·
Citywings Agencies Private Limited |
|
|
|
|
Subsidiaries : |
·
SKS Power Generation (Chhatisgarh) Limited ·
SKS Power Generation (Madhya Pradesh) Limited ·
SKS Power Generation (Jharkhand) Limited ·
SKS Power Trading Limited ·
SKS Cements Limited ·
SKS Power Generation Limited ·
Shree Krishna Steels Global Pte Limited ·
SKS Power Holdings Limited |
|
|
|
|
Associates and Joint Venture : |
·
Gupta Steel Corporation Private Limited ·
Surya Infra venture Private Limited ·
Fatehpur Coal Mining Company Private Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
46570350 |
Equity Shares |
Rs.10/- each |
Rs.465.704
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 |
465.704 |
361.940 |
361.940 |
|
|
2] Share Application Money |
0.000 |
234.550 |
0.000 |
|
|
3] Reserves & Surplus |
5592.492 |
4318.210 |
3716.877 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
6058.196 |
4914.700 |
4078.817 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
6874.630 |
6291.753 |
5037.936 |
|
|
2] Unsecured Loans |
535.389 |
900.000 |
650.000 |
|
|
TOTAL BORROWING |
7410.019 |
7191.753 |
5687.936 |
|
|
DEFERRED TAX LIABILITIES |
790.180 |
720.063 |
595.544 |
|
|
|
|
|
|
|
|
TOTAL |
14258.395 |
12826.516 |
10362.297 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7364.953 |
7137.159 |
5418.403 |
|
|
Capital work-in-progress |
1286.115 |
865.547 |
1198.255 |
|
|
|
|
|
|
|
|
INVESTMENT |
17.552 |
14.940 |
15.440 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3171.131
|
2973.629 |
3039.998 |
|
|
Sundry Debtors |
856.832
|
851.547 |
1024.825 |
|
|
Cash & Bank Balances |
401.292
|
273.636 |
202.598 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
2695.383
|
1456.408 |
421.157 |
|
Total
Current Assets |
7124.638
|
5555.220 |
4688.578 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1401.884 |
607.886 |
820.793 |
|
|
Other Current Liabilities |
115.667
|
91.683 |
68.456 |
|
|
Provisions |
17.312
|
46.781 |
69.130 |
|
Total
Current Liabilities |
1534.863
|
746.350 |
958.379 |
|
|
Net Current Assets |
5589.775
|
4808.870 |
3730.199 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
14258.395 |
12826.516 |
10362.297 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
9783.212 |
9627.991 |
9661.842 |
|
|
|
Other Income |
306.431 |
197.434 |
148.590 |
|
|
|
TOTAL (A) |
10089.643 |
9825.425 |
9810.432 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
7832.962 |
7477.720 |
|
|
|
|
Manufacturing service costs |
285.067 |
334.437 |
|
|
|
|
Contract cost |
13.294 |
12.083 |
|
|
|
|
Employee related expenses |
116.542 |
112.023 |
|
|
|
|
Administrative selling other expenses |
293.247 |
370.208 |
|
|
|
|
TOTAL (B) |
8541.112 |
8306.471 |
8183.099 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1548.531 |
1518.954 |
1627.333 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
805.367 |
459.260 |
557.209 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
743.164 |
1059.694 |
1070.124 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
413.649 |
313.347 |
282.880 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
329.515 |
746.347 |
787.244 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
86.019 |
145.014 |
126.701 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
243.496 |
601.333 |
660.543 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2668.480 |
2067.147 |
1406.604 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2911.976 |
2668.480 |
2067.147 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
404.777 |
4.487 |
|
|
TOTAL EARNINGS |
NA |
404.777 |
4.487 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
916.629 |
0.000 |
|
|
|
Stores & Spares |
NA |
1.315 |
2.801 |
|
|
|
Capital Goods |
|
15.089 |
227.640 |
|
|
TOTAL IMPORTS |
NA |
933.033 |
230.441 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.72 |
16.04 |
18.29 |
|
Expected Sales (2011-2012) : Rs.12000.000 Millions
The above information has been parted by Mr.
Sominathan.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.41
|
6.12 |
6.73 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.37
|
7.75 |
8.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.27
|
5.89 |
7.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.15 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.48
|
1.62 |
1.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.64
|
7.44 |
4.89 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry
Creditors:
(Rs.
In Millions)
|
Particulars
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry
Creditors |
|
|
|
|
due others |
1401.884 |
607.886 |
820.793 |
Financial Results:
The Company has
achieved a Turnover of Rs.9783.212 Millions during the financial year as against
Rs.9627.991 Millions during the previous year. The EBDITA has increased
marginally to Rs.1691.692 Millions from Rs.1668.986 Millions despite two of the
turbines were out of operation for 3-5 months. The Profit after tax has
declined due to higher interest, and depreciation. The directors are confident
that increased power availability attributed to the commissioning of the 30MW
power plant coupled with the stabilization and scaling up of production
facilities shall result in higher profit margins in the coming years.
Operations:
Operations of
various production facilities, viz. Four DRI kilns, SMS comprising 8 nos of
Induction Furnaces and Concast, 25 MW WHRB based CPP, 30 MW AFBC boiler based
CPP, 30 MW CFBC boiler based CPP and Rolling mills are being gradually scaled
up. Due to the addition of Service facilities such as Railway siding, Iron ore
Crusher and other infrastructure facilities in the second and third phase,
Company has achieved substantial cost benefits in material handling and logistics.
Project: The Company is implementing a fourth Rolling Mill at the existing
plant at Siltara, which is expected to be commissioned by December 2011.
|
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 two years |
No |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
No |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
No |
|
16) Details of sister concerns |
Yes |
|
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 |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
No |
|
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 |
-- |
Contingent Liabilities:
a) Estimated amounts
of contracts remaining to be executed on capital account and not provided for
(net of advances) Rs.1.234 Millions (Rs.6.016 Millions ).
b) Bank guarantees
issued outstanding at the year end Rs.329.472 ( Rs.366.032 Millions).
c) Letter of
credit issued by banks outstanding at the year end Rs.337.883 Millions (
Rs.842.492 Millions).
d) Disputed excise
liabilities Rs.277.278 Millions ( Rs.272.215 Millions).
e) Claims against the
Company not acknowledged as debts Rs.10.152 Millions ( Rs.6.194 Millions).
f) Export
obligation to be fulfilled against imports made under EPCG Schemes Rs.527.693
Millions ( Rs.527.693 Millions). Customs Duty liability which may arise on
non-fulfilment of aforesaid export obligations Rs.65.962 Millions( Rs.65.962).
g) Corporate
guarantees issued on behalf of subsidiaries and an associate company
outstanding at the year end Rs.768.000 Millions (Rs.Nil).
Form 8:
|
Corporate identity number of the company |
U27100MH2000PLC125893 |
|
Name of the company |
SKS ISPAT AND POWER LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
501B, Elegant Business Park, Andheri Kurla Road, J. B. Nagar, Andheri (East),
Mumbai – 400059, Maharashtra, India E-mail : corporateoffice@sksispat.com
|
|
This form is for |
Creation of charge |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of charge holder |
L and T Finance Limited, L and T House, Ballard Estate, Mumbai –
400001, Maharashtra, India |
|
Nature of instrument creating charge |
Loan Agreement and Deed of Hypothecation, executed on 09.12.2011 in
favour L and T Finance Limited for Loan of Rs.200.000 Millions |
|
Date of instrument Creating the charge |
09.12.2011 |
|
Amount secured by the charge |
Rs.200.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest 14% p.a Terms of Repayment 10 Equal monthly installments of Rs. 20.000 Millions each starting
from the end of 9th month from the date of disbursement. Margin NIL Extent and Operation of the charge Second Pari-passu charge by way of hypothecation on the Movable Fixed
Assets of the Company for repayment of Loan of Rs. 200.000 Millions. Deed of
Hypothecation dated 09.12.2011 |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Second Pari-passu charge by way of hypothecation of entire movable
fixed assets, present and future of the Company as described in Schedule II
of Deed of Hypothecation. |
Fixed Assets:
·
Freehold Land
·
Building
-
Factory Building
-
Non-Factory Building
·
Plant and Machinery
·
Electrical Installation
·
Borewell
·
Material Handling
Equipments
·
Office Equipments
·
Computers
·
Furniture and Fixtures
·
Vehicles (Motor Car)
·
Transport Vehicles
(Trailers)
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.49.05 |
|
|
1 |
Rs.77.78 |
|
Euro |
1 |
Rs.65.89 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
51 |
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.