MIRA
INFORM REPORT
|
Report Date : |
12.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
INDIAN SMELTING AND REFINING COMPANY LIMITED |
|
|
|
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Registered Office
: |
Lal
Bahadur Shastri Marg, Bhandup-West, Mumbai-400078, Maharashtra |
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Country : |
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|
|
Financials (as
on) : |
31.03.2011 |
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|
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|
Date of
Incorporation : |
01.12.1932 |
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Com. Reg. No.: |
11-001910 |
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Capital Investment
/ Paid-up Capital : |
Rs.6.134 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH1932PLC001910 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT00194F/
MUMT08928D/ MUMT09919A |
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|
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PAN No.: [Permanent Account No.] |
AAACT3782D |
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|
Legal Form : |
A
Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing
of Copper, Brass, Bronze, Nickel Silver Sheets, Strips and Foils and
Non-Ferrous Alloys. |
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|
|
|
No. of Employees
: |
2400 (Approximately) |
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 5100000 |
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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 old and well established company having good track.
Financial position of the company appears to be sound. Trade relations are
reported as fair. 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.
INFORMATION PARTED BY
|
Name : |
Mr. Rahul Vora |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-25784331 |
|
Date : |
10.03.2012 |
LOCATIONS
|
Registered Office/ Factory 1 : |
Lal
Bahadur Shastri Marg, Bhandup-West, Mumbai-400078, Maharashtra, India |
|
Tel. No.: |
91-22-25784331/
66815813/ 66815800 |
|
Fax No.: |
91-22-25784180/
67974209 |
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E-Mail : |
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Website : |
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Location: |
Owned |
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|
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|
Factory 2 : |
Casting Factory 1st
Pokhran Road, Panchpakhadi, Thane – 400606, Maharashtra, India |
|
Tel. No.: |
91-22-2588
2801 / 67987101 |
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Fax No.: |
91-22-67987104 |
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E-Mail : |
|
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|
|
|
Factory 3 : |
Gat No. 201, Off Pune – Nagar Road, Sanswadi-412208, Taluka- Shirur,
District- Pune-412208, Maharashtra, India |
|
Tel. No.: |
91-2137-677200 |
|
Fax No.: |
91-2137-677228 |
|
E-Mail : |
DIRECTORS
(AS ON 10.06.2011)
|
Name : |
Mr.
Chandrakant Birla |
|
Designation : |
Chairman |
|
Address : |
24, Aurangzeb Road, New Delhi- 110110, India |
|
Date of Birth/Age : |
09.01.1955 |
|
Date of Appointment : |
31.10.2000 |
|
DIN No.: |
00118473 |
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|
|
|
Name : |
Mr.
Chiranjilal Gograj Joshi |
|
Designation : |
Director |
|
Address : |
A-11,
Building No.17, Government Officers Flats, Hali Ali Park, Mumbai – 400034,
Maharashtra, India |
|
Date of Birth/Age : |
01.08.1929 |
|
Date of Appointment : |
18.05.1989 |
|
DIN No.: |
00328553 |
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|
|
|
Name : |
Mr.
Ananthanarayanan Shankar Narayanna |
|
Designation : |
Director |
|
Address : |
12, First Avenue,
Harrington Road, Chetput, Chennai – 600031, Tamilnadu, India |
|
Date of Birth/Age : |
29.07.1942 |
|
Date of Appointment : |
06.07.2004 |
|
DIN No.: |
00385632 |
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|
|
|
Name : |
Mr. Athul Singhi |
|
Designation : |
Managing Director
|
|
Address : |
Flat 401, A EI Dorado, Kashinath Dhuru Marg, Prabhadevi,
Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
07.02.1957 |
|
Qualification : |
B.Sc. |
|
Date of Appointment : |
31.10.1994 |
|
DIN No.: |
00166392 |
|
|
|
|
Name : |
Mrs. Amita Birla |
|
Designation : |
Director |
|
Address : |
24, Aurangzeb Road, New Delhi- 110110, India |
|
Date of Birth/Age : |
07.12.1956 |
|
Date of Appointment : |
11.07.2007 |
|
DIN No.: |
00837718 |
|
|
|
|
Name : |
Mr. Srinivasa Varadhan Echambadi Tirumalai |
|
Designation : |
Director |
|
Address : |
B – 249, First Floor, Greater Kailash, Part I, New Delhi –
110048, India |
|
Qualification : |
29.03.1956 |
|
Date of Appointment : |
21.04.2006 |
|
DIN No.: |
00263942 |
KEY EXECUTIVES
|
Name : |
Mr. Chintamani Dattatraya Thatte |
|
Designation : |
Vice President and Company Secretary |
|
Address : |
Flat Nop.401, Laxmi Vilas Society, Near Chantali Mandir, Thane (West)
– 400602, Maharashtra, India |
|
Date of Birth/Age : |
02.04.1965 |
|
Date of Appointment : |
19.10.1993 |
|
PAN No.: |
AAVPT7409D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 10.06.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Arun Kumar Singhi |
|
50 |
|
Alok Khaitan |
|
100 |
|
Athul Singhi |
|
100 |
|
Baroda Agents and Trading Company Private Limited, India |
|
16250 |
|
Birla Bombay Limited, India |
|
79400 |
|
Birla Corporation Private Limited, India |
|
52000 |
|
Beniprasad M. Singhi |
|
440 |
|
Calcutta Medical Institute, India |
|
60400 |
|
Calcutta Hospital Institute, India |
|
80000 |
|
Gwalior Finance Corporation Limited, India |
|
21055 |
|
Mohini Mohan Varde and Mr. Mohan Shankar Varde |
|
1000 |
|
Padmavati Investment Limited, India |
|
40800 |
|
Rukmani Birla Educational Society, India |
|
80000 |
|
Sri HJagannath Educational Institute, India |
|
80000 |
|
Sri Govinddeo Educational Institute, India |
|
80000 |
|
Suresh Waman Mulgaonkar and Ashwini Suresh Mulgaonkar |
|
1000 |
|
Zenith Distributors and Agents Limited, India |
|
18000 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
37.08 |
|
Directors or relatives of directors |
|
0.03 |
|
Other top fifty shareholders |
|
62.80 |
|
Others |
|
0.09 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing
of Copper, Brass, Bronze, Nickel Silver Sheets, Strips and Foils and Non-Ferrous
Alloys. |
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Products : |
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Terms : |
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Selling : |
Cash, Credit (30 days, 60 days,
90 days) |
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Purchasing : |
Cash, Credit (30 days, 60 days,
90 days) |
GENERAL INFORMATION
|
Customers: |
·
Wholesalers ·
Retailers ·
OEM’s ·
Industries |
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No. of Employees : |
2400 (Approximately) |
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Bankers : |
·
Bank of Backbay Reclamation Branch, Ram
Mahal, Backbay Reclamation, Mumabi-400020, Maharashtra, India. ·
Union Bank of India · Landesbank Baden-Wurttemberg Am
Hauptbahnhof 2, 70173 Stuttgart, Federal Republic of Germany, Stuttgart, DE
31061, Germany |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
M. M.
Nissim and Company Chartered
Accountants |
|
Address : |
Barodawala Mansion, B-Wing, 3rd Floor, 81, Dr. Annie Besant
Road, Worli, Mumbai-400018, Maharashtra, India |
|
Tel. No.: |
91-22-24949991 |
|
Fax No.: |
91-22-24949995 |
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E-Mail : |
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|
|
|
|
Memberships : |
Confederation
of Indian Industry |
|
|
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|
Associates/Subsidiaries : |
·
National Engineering Industries Limited ·
Birla Soft Limited ·
Hindustan Motors Limited ·
AVTEC Limited ·
Hyderabad Industries Limited ·
Orient Paper and Industries Limited ·
Orient Fans ·
GMMCO Limited ·
Nigeria Engineering Works Limited ·
Rivers Vegetable Oil Company Limited ·
Pan African Paper Mills (EA) Limited ·
Birla Institute of Technology ·
BM Birla Science and Technology Centre ·
BM Birla Heart Research Centre ·
Calcutta Medical Research Institute ·
|
CAPITAL STRUCTURE
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
400000 |
Preferences Shares |
Rs.100/- each |
Rs.40.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.50.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
613400 |
Equity Share |
Rs.10/- each |
Rs.6.134
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 |
6.134 |
6.134 |
6.134 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1265.570 |
1185.679 |
1136.606 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1271.704 |
1191.813 |
1142.740 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
408.099 |
395.562 |
360.043 |
|
|
2] Unsecured Loans |
8.688 |
6.629 |
7.254 |
|
|
TOTAL BORROWING |
416.787 |
402.191 |
367.297 |
|
|
DEFERRED TAX LIABILITIES |
27.811 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1716.302 |
1594.004 |
1510.037 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
756.034 |
783.278 |
823.828 |
|
|
Capital work-in-progress |
76.424 |
24.495 |
58.209 |
|
|
|
|
|
|
|
|
INVESTMENT |
3.015 |
3.015 |
3.015 |
|
|
DEFERREX TAX ASSETS |
0.000 |
18.271 |
34.173 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
655.252
|
534.233
|
347.035 |
|
|
Sundry Debtors |
793.228
|
689.076
|
434.452 |
|
|
Cash & Bank Balances |
13.217
|
5.448
|
3.796 |
|
|
Other Current Assets |
2.952
|
2.541
|
2.294 |
|
|
Loans & Advances |
259.699
|
196.700
|
160.691 |
|
Total
Current Assets |
1724.348
|
1427.998
|
948.268 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
608.984
|
492.858
|
208.030 |
|
|
Other Current Liabilities |
201.900
|
130.473
|
129.609 |
|
|
Provisions |
32.635
|
39.722
|
19.817 |
|
Total
Current Liabilities |
843.519
|
663.053
|
357.456 |
|
|
Net Current Assets |
880.829
|
764.945
|
590.812 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1716.302 |
1594.004 |
1510.037 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5235.852 |
3911.911 |
3471.107 |
|
|
|
Other Income |
45.632 |
50.152 |
50.923 |
|
|
|
TOTAL (A) |
5281.484 |
3962.063 |
3522.030 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Materials Changed Inventories |
3973.575 |
|
|
|
|
|
Manufacturing Service Costs |
463.641 |
384.570 |
|
|
|
|
Employee Related Expenses |
431.804 |
348.188 |
3605.352 |
|
|
|
Administrative Selling Other expenses |
110.856 |
85.708 |
|
|
|
|
Exceptional Income Expenses |
0.000 |
(20.281) |
|
|
|
|
TOTAL (B) |
4979.876 |
3722.614 |
3605.352 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
301.608 |
239.449 |
(83.322) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
68.732 |
66.987 |
105.272 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
232.876 |
172.462 |
(188.594) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
102.289 |
101.068 |
92.854 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
130.587 |
71.394 |
(281.448) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
43.543 |
15.146 |
(94.788) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
87.044 |
56.248 |
(186.660) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
43.447 |
0.000 |
14.397 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
13.050 |
5.625 |
(172.020) |
|
|
|
Refund of Income Tax |
0.000 |
0.000 |
(0.243) |
|
|
|
Proposed Dividend |
6.134 |
6.134 |
0.000 |
|
|
|
Corporate Dividend Tax |
1.019 |
1.042 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
110.288 |
43.447 |
0.000 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
683.596 |
NA |
|
|
|
Other Earnings |
NA |
0.659 |
NA |
|
|
TOTAL EARNINGS |
NA |
684.255 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
102.891 |
33.305 |
|
|
|
Stores & Spares |
NA |
4.734 |
10.945 |
|
|
|
Capital Goods |
NA |
3.311 |
21.132 |
|
|
TOTAL IMPORTS |
NA |
110.936 |
65.382 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
141.90 |
91.70 |
(304.30) |
|
Expected Sales (2011-2012) : Rs.5600.000 Millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.65
|
1.42
|
(5.30) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.49
|
1.83
|
(8.11) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.26
|
3.23
|
(15.88) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.06
|
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.99
|
0.89
|
0.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.04
|
2.15
|
2.65 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS
|
Particulars |
31.03.2010 RS.
IN MILLIONS |
31.03.2009 RS.
IN MILLIONS |
31.03.2008 RS.
IN MILLIONS |
|
Creditors due small micro enterprises |
13.598 |
9.142 |
3.725 |
|
Creditors due others |
595.386 |
483.716 |
204.305 |
|
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 |
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) |
-- |
|
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 |
-- |
Bankers Charges Report
as per Registry
|
Corporate
identity number of the company |
U74999MH1932PLC001910 |
|
Name of the
company |
INDIAN SMELTING
AND REFINING COMPANY LIMITED |
|
Address of the
registered office or of the principal place of business in |
Lal
Bahadur Shastri Marg, Bhandup, Mumbai- 400078, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Others |
|
Particular of charge
holder |
· Landesbank Baden-Wurttemberg Am
Hauptbahnhof 2, 70173 Stuttgart, Federal Republic of Germany, Stuttgart, DE
31061, Germany |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation dated 9th December 2011 executed by the Company in favour of
Landesbank Baden-Wurttemberg, Am Hauptbahnhof 2, 70173 Stuttgart, Germany |
|
Date of
instrument Creating the charge |
09/12/2011 |
|
Amount secured by
the charge |
Rs.220.626
Millions |
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Machinery
·
Furniture and Office
Equipments
·
Vehicles
·
Software
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.50.01 |
|
|
1 |
Rs.79.00 |
|
Euro |
1 |
Rs.66.17 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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.