MIRA
INFORM REPORT
|
Report Date : |
10.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
B.M.M. ISPAT LIMITED |
|
|
|
|
Registered
Office : |
114, |
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|
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Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
15.04.2002 |
|
|
|
|
Com. Reg. No.: |
08-030365 |
|
|
|
|
Capital Investment/
Paid-up Capital: |
Rs1021.998 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U13100KA2002PLC030365 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRB05074G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCB3556B |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
Line of Business
: |
Manufacturer and Trader of |
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|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (58) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 44000000 |
|
|
|
|
Status : |
Good |
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|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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|
Comments : |
Subject is pact of BMM Group. It is a well established and reputed company
having fine track. Financial position of the company appears to be sound.
Directors are reported as experienced and knowledgeable businessmen. Trade relations are reported as trustworthy. Business is active.
Payments are reported to be regular and as per commitments. The company can be considered good for normal 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office/Factroy : |
114, |
|
Tel. No.: |
91-8394-244681/82/83/84 |
|
Fax No.: |
91-8394-244680/244686 |
|
E-Mail : |
|
|
Area : |
|
|
Corporate Office : |
101, 1st Floor, Pride Elite, No.10, |
|
Tel. No.: |
91-80-41495660/ 1/3 |
|
Fax No.: |
91-80-41495663/ 4 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 27.09.2011
|
Name : |
Mr. Saibal Kanti Gupta |
|
Designation : |
Director |
|
Address : |
No. 14, |
|
Date of Birth/Age : |
18.08.1938 |
|
Experience: |
B.Sc. (Met. Engg.); Ph.D. (Tech.); D.Sc. (Tech.); HMIIM |
|
Date of Appointment : |
19.03.2008 |
|
Din No.: |
00011138 |
|
|
|
|
Name : |
Mr. Subramanyam Pratagiri |
|
Designation : |
Director |
|
Address : |
10-28, Patel Nagar, P and T Colony, Dilsukhnagar, |
|
Date of Birth/Age : |
25.09.1965 |
|
Experience: |
|
|
Date of Appointment : |
19.03.2008 |
|
Din No.: |
00038729 |
|
|
|
|
Name : |
Mr. Dinesh Kumar Singhi |
|
Designation : |
Managing Director |
|
Address : |
No.7-201-1, |
|
Date of Birth/Age : |
14.01.1971 |
|
Experience: |
B.E. (Mechanical) |
|
Date of Appointment : |
15.04.2002 |
|
Din No.: |
00208064 |
|
|
|
|
Name : |
Mrs. Snehalatha Singhi |
|
Designation : |
Director |
|
Address : |
No.7-201-1, |
|
Date of Birth/Age : |
08.12.1972 |
|
Experience: |
B.COM |
|
Date of Appointment : |
15.04.2002 |
|
Din No.: |
00208131 |
|
|
|
|
Name : |
Mr. Laxmipat Dudheria |
|
Designation : |
Director |
|
Address : |
No.7-201-1, |
|
Date of Birth/Age : |
24.08.1962 |
|
Experience: |
CA |
|
Date of Appointment : |
12.07.2004 |
|
Din No.: |
00300443 |
|
|
|
|
Name : |
Mr. Mrutunjaya Senapati |
|
Designation : |
Director |
|
Address : |
002, Aster Block, |
|
Date of Birth/Age : |
15.05.1947 |
|
Experience: |
B.Sc. (Mech. Engg.), MBA |
|
Date of Appointment : |
19.03.2008 |
|
Din No.: |
02167644 |
|
|
|
|
Name : |
Mr. Ganapathi Subramaniam |
|
Designation : |
Director |
|
Address : |
804, 1-12, |
|
Date of Birth/Age : |
10.04.1947 |
|
Date of Appointment : |
28.08.2009 |
|
Din No.: |
02758633 |
|
|
|
KEY EXECUTIVES
|
Name : |
Ms. Suman Bajoria |
|
Designation : |
Company Secretary |
|
Address : |
No. 251, 1st Floor, 24th Main, 5th
Phase, J.P. Nagar, |
|
Date of Birth/Age : |
04.04.1982 |
|
Date of Appointment : |
19.03.2008 |
|
Pan No.: |
ANDPB4760G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Dinesh Kumar Singhi |
|
47625000 |
|
Snehlatha Singhi |
|
68605 |
|
Singhi Finilease Private Limited, |
|
15902910 |
|
Snehfin Investment Private Limited, |
|
34660750 |
|
Singhi Holdings Private Limited, |
|
2390000 |
|
Laxmipat Dudheria |
|
50000 |
|
Dinesh Kumar Singhi (HUF) |
|
55000 |
|
BPO Finance and Investment Private Limited, |
|
722500 |
|
Panchimulhi Properties Private Limited, |
|
725000 |
|
Total |
|
102199765 |
As on 27.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
53.23 |
|
Directors or relatives of directors |
|
46.77 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of |
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Products ; |
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PRODUCTION STATUS As on 31.03.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
MT |
|
1200000 |
805912 |
|
|
MT |
|
1200000 |
149588 |
|
Sponge Iron |
MT |
|
360000 |
96169 |
|
Billets |
MT |
|
100000 |
71959 |
|
TMT Bars |
MT |
|
90000 |
65178 |
|
Generation of Power |
MT |
|
25 |
18 |
Notes:
Licensed capacity is not applicable in view of
the company’s products having been delicensed as per the licensing policy of
the Government of India
Insatalled capacity is a certified by the
management and accepted by the auditors, being a technical matter
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
Punjab National Bank, Large Corporate Branch,
Centenary Building, No.28, M G Road, Bangalore -560001, Karnataka, India ·
State Bank of India, Collage Road Branch, Pawaj
Plaza, Collage Road, Hospet – 583 201,
Karnataka, India. ·
Punjab National Bank, ·
Canara Bank |
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Facilities : |
Rs.
In Millions
|
|
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Ostawal and Jain Chartered Accountants |
|
Address : |
No. 34, Keshava Nivas, 3rd Floor, 1st Main, Gandhinagar, 1st Main,
Gandhinagar, |
|
Pan No.: |
AAAFO2177L |
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|
|
|
Subsidiaries : |
·
BMM Global Resources Ltd, · Ranj I T Pura Infrastructure Private Limited CIN No.: U45203KA2006PTC040944 |
|
|
|
|
Key Management Personnel: |
· Shree Gavisiddeshwara Minarals · Shravan I Constructions Private Limited CIN No.:U70109WB2010PTC155535 · Singhi Finlease Private Limited CIN No.:U67120KA1999PTC025712 · Snehfin Investments Private Limited CIN No.:U67120KA2001PTC028490 · Singhi Holdings Private Limited CIN No.:U67120KA2007PTC043709 · Shree Gavisiddeshwara Minerals Private Limited CIN No.:U01010KA2004PTC033519 · Sneh Shelters Private Limited CIN No.:U70101KA2007PTC041769 · Shravanee Properties Private Limited CIN No.:U70101KA2005PTC037125 · Panchmukhi Properties Private Limited CIN No.:U70101WB1986PTC101350 · B. P.o .finance and investments private limited CIN No.:U74899DL1995PTC070930 · BMM Energy Private Limited CIN No.:U40101KA2010PTC055239 · BMM Cements Limited Cin No.:U26942KA2007PLC043746 · Bharat Mines and Minarals |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
160000000 |
Equity Share |
Rs.10/- each |
Rs.1600.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
102199765 |
Equity Share |
Rs.10/- each |
Rs1021.998
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 |
1021.998 |
1000.000 |
1000.000 |
|
|
2] Share Application Money |
0.000 |
300.907 |
50.000 |
|
|
3] Reserves & Surplus |
10072.228 |
5922.133 |
3334.322 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
11094.226 |
7223.04 |
4384.322 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
4295.704 |
2677.601 |
2474.140 |
|
|
2] Unsecured Loans |
2683.035 |
1725.336 |
1082.918 |
|
|
TOTAL BORROWING |
6978.739 |
4402.937 |
3557.058 |
|
|
DEFERRED TAX LIABILITIES |
592.627 |
338.028 |
227.202 |
|
|
|
|
|
|
|
|
TOTAL |
18665.592 |
11964.005 |
8168.582 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9314.183 |
6272.957 |
6107.579 |
|
|
Capital work-in-progress |
6371.340 |
3246.036 |
762.996 |
|
|
|
|
|
|
|
|
INVESTMENT |
988.645 |
1359.250 |
208.048 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2064.847
|
1326.083 |
941.334
|
|
|
Sundry Debtors |
319.281
|
353.257 |
250.078
|
|
|
Cash & Bank Balances |
878.692
|
398.631 |
154.678
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
1343.390
|
505.913 |
908.210
|
|
Total
Current Assets |
4606.210
|
2583.884 |
2254.300 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
1951.457
|
1151.183 |
957.381
|
|
|
Other Current Liabilities |
218.568
|
256.503 |
213.543
|
|
|
Provisions |
454.238
|
104.652 |
12.390
|
|
Total
Current Liabilities |
2624.263
|
1512.338 |
1183.314 |
|
|
Net Current Assets |
1981.947
|
1071.546 |
1070.986 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
9.477 |
14.216 |
18.973 |
|
|
|
|
|
|
|
|
TOTAL |
18665.592 |
11964.005 |
8168.582 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|||||
|
|
SALES |
|
|
|
|
|||||
|
|
|
Income |
10422.063 |
6863.686 |
3582.694 |
|
||||
|
|
|
Other Income |
2266.849 |
2348.059 |
927.978 |
|
||||
|
|
|
TOTAL (A) |
12688.912 |
9211.745 |
4510.672 |
|
||||
|
|
|
|
|
|
|
|||||
|
Less |
EXPENSES |
|
|
|
|
|||||
|
|
|
Consumption materials changes inventories |
5746.355 |
4107.027 |
|
|
||||
|
|
|
Manufacturing service costs |
1441.699 |
1162.500 |
|
|
||||
|
|
|
Employee related expenses |
207.088 |
137.355 |
|
|
||||
|
|
|
Administrative selling other expenses |
669.046 |
348.761 |
|
|
||||
|
|
|
Research development expenditure |
0.000 |
0.131 |
|
|
||||
|
|
|
TOTAL (B) |
8064.188 |
5755.774 |
3256.038 |
|
||||
|
|
|
|
|
|
|
|||||
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4624.724 |
3455.971 |
1254.634 |
|
|||||
|
|
|
|
|
|
|
|||||
|
Less |
FINANCIAL
EXPENSES (D) |
238.171 |
247.463 |
153.838 |
|
|||||
|
|
|
|
|
|
|
|||||
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4386.553 |
3208.508 |
1100.796 |
|
|||||
|
|
|
|
|
|
|
|||||
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
500.598 |
423.039 |
174.987 |
|
|||||
|
|
|
|
|
|
|
|||||
|
|
PROFIT/LOSS
FOR THE YEAR BEFORE TAXATION |
0.000 |
0.000 |
925.809 |
||||||
|
|
|
|
|
|
||||||
|
Less: |
PRIOR
PERIOD ADJUSTMENT |
0.000 |
0.000 |
6.944 |
||||||
|
|
|
|
|
|
|
|||||
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3885.955 |
2785.469 |
918.865 |
|
|||||
|
|
|
|
|
|
|
|||||
|
Less |
TAX (H) |
593.769 |
197.659 |
128.115 |
|
|||||
|
|
|
|
|
|
|
|||||
|
|
PROFIT AFTER TAX
(G-H) (I) |
3292.186 |
2587.810 |
790.750 |
|
|||||
|
|
|
|
|
|
|
|||||
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
16524819.500 |
79296466.300 |
|
|||||
|
|
|
|
|
|
|
|||||
|
|
IMPORTS |
|
|
|
|
|||||
|
|
|
Raw Materials |
NA |
106.682 |
28.206 |
|
||||
|
|
|
Capital Goods, Stores & Spares |
NA |
158.646 |
213.092 |
|
||||
|
|
|
Coal |
NA |
740.829 |
150.706 |
|
||||
|
|
TOTAL IMPORTS |
|
|
|
|
|||||
|
|
|
|
|
|
|
|||||
|
|
Earnings Per
Share (Rs.) |
32.82 |
25.88 |
15.64 |
|
|||||
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
25.95
|
28.09 |
17.53
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
37.29
|
40.58 |
25.64
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
27.92
|
31.44 |
10.99
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.39 |
0.21
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.87
|
0.82 |
1.08
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.76
|
1.71 |
1.91
|
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
No |
|
Name
of Person Contacted |
No |
|
Designation
of contact person |
No |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
OPERATIONS
During the year , the Company recorded a revenue growth of 51%
to Rs. 10500 million, EBIDTA growth of 103% to Rs.2464 million, PBT growth of
225% to Rs.1697 million and PAT growth of 239% to Rs.1103 million. During the
year , the Company achieved 36% growth in beneficiated ore production to 10,
96,069 MT from 8, 05,912 MT in previous year and 40% growth in pellet
production to 9,56,073 MT from 6,82,582 MT in previous year. The Company
achieved sponge iron production from DRI Plant to 2,66,181 MT from 2,65,475 MT
in the corresponding previous year, billet production from induction Furnace to
67,706 MT from 73,125 MT in the previous year and TMT production from Rolling
Mill to 58,130 MT from 67,088 MT in the previous year. The generation of power
registered a growth of 15% to 23 MW as against 20 MW in the previous year. The
power was used mainly for captive consumption. Accruals from mining operations
decreased by 3% on account of ban on transportation of iron ore for export by
the Government of Karnataka in July, 2010. During the year, iron ore exports of
the Company’s group entity Bharat Mines & Minerals had to be suspended in
July, 2010 consequent to a ban order by the Government of Karnataka. Though the
Hon’ble Supreme Court lifted the ban, no further notification has been issued
by the Government of Karnataka. Consequently, the Company’s traded exports of
iron ore were also discontinued. Mining operation were however continued until
June, 2011 solely for captive consumption by the Company’s manufacturing units.
Following, the Supreme Court order in June, 2011, mining operations were
discontinued altogether. However, the Company has made alternative arrangements
for supply of iron ore to its production facilities to ensure uninterrupted
operations
NOTE:
The Registered office of the company has been shifted from “Singhi
Sadan”,
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U13100KA2002PLC030365 |
|
Name of the
company |
B.M.M. ISPAT
LIMITED |
|
Address of the
registered office or of the principal place of business in |
114, Hospet Taluq,
Bellary District – 583222, Email: suman@bmm.in |
|
This form is for |
Creation of charge |
|
Type of charge |
·
Movable
Property (not being pledge) ·
Floating
Charge |
|
Particular of
charge holder |
·
Punjab National Bank, Large Corporate Branch, Centenary
Building, No.28, M G Road, Bangalore -560001, Karnataka, India Email: dgmlcb@yahoo.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of Hypothecation
to secure LC on DA/DP basis. |
|
Date of
instrument Creating the charge |
05.03.2012 |
|
Amount secured by
the charge |
Rs.250.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate Of Interest As per
Bank/sanction terms Terms of repayment ILC-90 days, FLC Maximum- 180 days Margin – 15% by way of FD
duly lien marked Extent And Operation Of The Charge The charge shall operate
to the extent of the loan amount plus interest, commission, cost, expenses
and other charges there on. Others: ILC/FLC/(DA/DP)/LOU
for buyers credit facility – 250.000 Millions |
|
Short particulars
of the property charged |
Hypothecation of
Exclusive Charge on Capital goods/ Machineries for replacement of old/ worn
out machines/ equipments for the operational units in Phase-I and phase-II
present and future ill retirement of bills under the LC stored/installed at
company's factories, premises and go downs/Works At No.114, Danapur village,
Hospet Taluk, Bellary District
Karnataka, India or wherever
else the same |
AS PER WEB SITE DETAILS
Latest News
"The total investment of Rs. 67000.000 Millions in the project is being funded
through a mix of debt and
internal
accruals."
-Dinesh Singhi Managing Director, BMM
ISPAT LIMITED.
"We have achieved financial closure for the
project," said Dinesh Singhi, managing director BMM. "The total
investment of Rs.67000.000 Millions in the project is being funded through a
mix of debt and internal accruals." Singhi added that a consortium of
fourteen banks led by the State Bank of
The
Singhi added that BMM expects to garner revenue of around Rs.20000.000 Millions during the current financial year and expects the company's revenue to increase by 25% over the next couple of years.
The company already owns and operates a pelletisation plant, beneficiation plant, sponge iron plant, induction furnace and a steel rolling mill. BMM is also diversifying into cement production and its cement manufacturing plant is set to come up at Anantpur in Andhra Pradesh
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.56.02 |
|
|
1 |
Rs.86.78 |
|
Euro |
1 |
Rs.68.83 |
INFORMATION DETAILS
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
58 |
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.