MIRA
INFORM REPORT
|
Report Date : |
30.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
WYSETEK SYSTEMS TECHNOLOGISTS PRIVATE LIMITED |
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|
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Registered
Office : |
6-7, Udyog Mandir No. 1, Ground Floor, Bhagoji Keer, Mahim, Mumbai –
400 016, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
28.08.1996 |
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Com. Reg. No.: |
11-102214 |
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Capital
Investment / Paid-up Capital : |
Rs. 2.499 Millions |
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|
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CIN No.: [Company Identification
No.] |
U72900MH1996PTC102214 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Provider of Networking Solution and trading
of IT Products of Different Brands. |
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|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 250000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
a dip in the turnover and profitability in the current financial year.
However, trade relations are reported as fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for small 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.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Bank Loan = BB+ |
|
Rating Explanation |
Moderate risk of default |
|
Date |
02.02.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Ajit Kade |
|
Designation : |
Accounts Executive |
|
Date : |
30.11.2012 |
LOCATIONS
|
Registered Office / Head Office : |
6-7, Udyog Mandir No. 1, Ground Floor, Bhagoji Keer, Mahim, Mumbai –
400 016, |
|
Tel. No.: |
91 22 66662727 / 43594900 / 24440777 |
|
Fax No.: |
91-22-66662747 |
|
E-Mail : |
anil@wysetek.com rajesh@wysetek.com |
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Website : |
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Branch Office : |
Located At · Bangalore · Hyderabad · Chennai · Delhi · Faridabad · Noida · Kolkata · Goa · Ahmedabad · Indore ·
Pune |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Cherian Kunnumkadavadakathil Thomas |
|
Designation : |
Director |
|
Address : |
Raheja Sherwood, C-Wing,
503 and 504, Near Western Highway, Goregaon (East), Mumbai-400063,
Maharashtra,India |
|
Date of Birth/Age : |
05.01.1964 |
|
Qualification : |
B. Sc |
|
Experience : |
25 Years |
|
Date of Appointment : |
28.08.1969 |
|
DIN No.: |
02779692 |
|
|
|
|
Name : |
Mr. Rajesh Madhav Mathkar |
|
Designation : |
Director |
|
Address : |
B-333, Daaffodil, Mahindra Garden, S. V. Road, Goregaon (West), Mumbai-400102, Maharashtra, India |
|
Date of Birth/Age : |
13.02.1967 |
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Qualification : |
Engineering |
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Experience : |
25 Years |
|
Date of Appointment : |
28.08.1969 |
|
DIN No.: |
00695089 |
KEY EXECUTIVES
|
Name : |
Mr. Ajit Kade |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Thomas Cherian |
|
124950 |
|
Mr. Rajesh Mathkar |
|
124950 |
|
Total |
|
249900 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Provider of Networking Solution and trading
of IT Products of different Brands. |
||||
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||||
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Products : |
·
IBM Servers ·
Lenovo Desktops and Notebooks ·
Microsoft Operating System ·
Tandberg Data Storage ·
HP Peripherals ·
Cisco and D-Link Networking ·
APC and Emerson UPS Generic name of
principle product of the company
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
Indian Bank, Mahim Branch, 1-1A Raj Mahal, MMC Road, Mahim (West), Mumbai
– 400016, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
GPS and Associates Chartered Accountants |
|
Address : |
A-1, Sindhi Niwas, Sitladevi Temple Road, Mahim (West), Mumbai – 400
016, Maharashtra, India |
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Tel. No.: |
91-22-2446859 / 24446688 / 24441348 / 24440777 |
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Fax No.: |
91-22-24466455 |
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PAN.: |
AADFG4422H |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
249900 |
Equity Shares |
Rs. 10/-
each |
Rs. 2.499
Millions |
|
|
|
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|
Terms/ rights attached
to equity shares
The company has only one class of equity shares having par value of Rs.10 per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends in Indian rupees. No dividend has been proposed by the Board of Directors during the year.
In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
Particulars of
shareholders holding more than 5% shares
|
Name of Shareholder |
Number of shares |
Percentage of shareholding |
|
Mr. Cherian Thomas |
1,24,950 |
50% |
|
Mr. Rajesh Mathkar |
1,24,950 |
50% |
As per of the company, including its register of shareholders / members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.499 |
2.499 |
2.499 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
61.525 |
54.161 |
42.176 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
64.024 |
56.660 |
44.675 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
35.905 |
32.073 |
46.775 |
|
|
2] Unsecured Loans |
0.353 |
2.240 |
3.180 |
|
|
TOTAL BORROWING |
36.258 |
34.313 |
49.955 |
|
|
DEFERRED TAX LIABILITIES |
0.839 |
1.179 |
0.975 |
|
|
|
|
|
|
|
|
TOTAL |
101.121 |
92.152 |
95.605 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
29.605 |
31.652 |
23.064 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
5.477 |
8.184 |
5.930 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
14.119
|
6.444 |
4.433 |
|
|
Sundry Debtors |
432.656
|
269.219 |
110.223 |
|
|
Cash & Bank Balances |
8.681
|
5.443 |
6.835 |
|
|
Other Current Assets |
0.060
|
0.075 |
0.000 |
|
|
|
0.482
|
0.497 |
0.000 |
|
|
Loans & Advances |
16.865
|
2.796 |
2.241 |
|
Total
Current Assets |
472.863
|
284.474 |
123.732 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
392.844
|
217.332 |
52.725 |
|
|
Other Current Liabilities |
11.231
|
13.772 |
3.002 |
|
|
Provisions |
2.749
|
1.054 |
1.394 |
|
Total
Current Liabilities |
406.824
|
232.158 |
57.121 |
|
|
Net Current Assets |
66.039
|
52.316 |
66.611 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
101.121 |
92.152 |
95.605 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
647.083 |
948.988 |
587.282 |
|
|
|
Commission Income |
0.000 |
0.000 |
9.440 |
|
|
|
Service Income |
0.000 |
0.000 |
36.036 |
|
|
|
Other Income |
2.728 |
2.437 |
2.313 |
|
|
|
TOTAL (A) |
649.811 |
951.425 |
635.071 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock-in-Trade |
563.771 |
845.478 |
|
|
|
|
Changes in inventories of finished goods |
(7.675) |
(2.011) |
613.212 |
|
|
|
Other direct expenses |
3.842 |
6.970 |
|
|
|
|
Employee benefit expense |
58.310 |
54.908 |
|
|
|
|
Other expenses |
15.190 |
20.566 |
|
|
|
|
TOTAL (B) |
633.438 |
925.911 |
613.212 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
16.373 |
25.514 |
21.859 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.741 |
4.204 |
2.763 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
13.632 |
21.310 |
19.096 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
3.549 |
3.426 |
2..928 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
10.083 |
17.884 |
16.168 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.719 |
5.899 |
5.560 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
7.364 |
11.985 |
10.608 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
29.47 |
47.96 |
42.45 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.13
|
1.25 |
1.67 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.56
|
1.88 |
2.75 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.01
|
5.66 |
11.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.32 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.92
|
4.70 |
2.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.16
|
1.23 |
2.17 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS
Rs.
In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Dues for Goods |
381.403 |
204.426 |
47.783 |
|
Dues for Services |
11.441 |
12.906 |
0.000 |
|
Sundry Creditors for Expenses |
0.000 |
0.000 |
4.942 |
|
Total |
392.844 |
217.332 |
52.725 |
|
Sr. No. |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
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% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
BACKGROUND
Founded in 1990, Subject is an established IT System Integration organization. Its primary business is Sales and Services of IT Products and Solutions.
It has a vast customer base in both SME as well as Enterprise Sector.
Partnership with global leaders from IT Industry as well as all India Service Network is the key strategical strength.
The Head Office is located at Mahim, Mumbai, with Branch offices in Bangalore, Hyderabad, Chennai, Delhi, Faridabad, Noida, Kolkata, Goa, Ahmedabad, Indore and Pune
REVIEW OF OPERATIONS
The Company is engaged in I.T. Services; their major force is on providing I.T Solutions to their clients. We are pleased to inform that as on 31st March 2012, they had total staff strength of 210 people, with operations in Mumbai, Bangalore, Hyderabad, Chennai, New Delhi, Faridabad, Indore, Noida, Kolkata, Goa, Ahmedabad, Indore and Pune.
There has been a decrease in Sales by 33.01% from Rs. 903.600 Millions in the previous year to Rs. 605.300 Millions in the current year. The Commission income has decreased from Rs. 4.617 Millions in FY 2010-11 to Rs. 1.993 Millions in FY 2011-12. Service income during the year decreased from Rs. 9.789 Millions in FY 2010-11 to Rs. 8.509 Millions. A major challenge faced in the current year was reversal of rebate on purchase which was approved and paid by IBM for FY 2010-11; however, subsequently IBM decided to reverse this rebate. Due to this the profitability has declined during the year. Otherwise, the year was better as compared to previous year.
The economic conditions were quite challenging. The Directors and the staff worked hard to create opportunities and maintain the profitability.
The directors are constantly on the lookout for new opportunities and avenues for growth.
CONTINGENT
LIABILITIES
Rs. In Millions
|
Particular |
31.03.2012 |
31.03.2011 |
|
Bank guarantees issued on behalf of the company to customers |
0.508 |
2.441 |
|
Bank guarantees issued on behalf of the company to sales tax authorities |
0.200 |
0.510 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U72900MH1996PTC102214 |
|
Name of the
company |
WYSETEK SYSTEMS
TECHNOLOGISTS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
6-7, Udyog Mandir No. 1, Ground Floor, Bhagoji Keer, Mahim, Mumbai –
400 016, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
90157737 |
|
Type of charge |
· Immovable property ·
Any interest in immovable property |
|
Particular of
charge holder |
Indian Bank,
Mahim Branch, 542 Raj Mahal, M M E-mail: adlalwani@rediffmal.com |
|
Nature of
instrument creating charge |
a) Letter from
Party to Bank Confirming Extension of Equitable Mortgage (D 33) for Rs.35.000
Millions. b) Letter from
Bank Dated 28.03.2012. |
|
Date of
instrument Creating the charge |
28.03.2012 |
|
Amount secured by
the charge |
Rs.35.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Secured OD: Base
rate + 2.00% p.a. + 0.50% p.a. (Presently 13.25% p.a.). SL: Inland BG /
Inland LC: As per HO Guidelines. SL: IBN: BR +
2.00% p.a. + 0.50% p.a. (Presently 13.25% p.a.) Terms of Repayment Repayable on
Demand. Margin Secured OD : 25% on Stocks and Book
debts SL-Inland Bank
Gtee. : 25% on Money Gtee. : 10% on
Perf. Gtee. Inland LC / IBN : 10% Extent and Operation of the charge The charge is to
operate as security, by way of first exclusive charge, for the due repayment
of the credit facility of Rs.35.000 Millions together with interests, additional interest, costs, charges,
expenses and all other moneys payable by the Company to the Bank from time to
time in terms of sanction Others Facility Existing Revised Limits (Rs. in Millions) ------------------- ---------- ----------- Secured OD 35.000
350.00 SL-Inland BG (1.000)
(2.000) -Inland LC NIL (1.500) -IBN NIL (1.500) Term Loan-I 7.500 NIL Term Loan-II 5.700 NIL |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
A) Extension of
equitable mortgage on the following immovable properties of the Company : 1) Flat No.404,
III Floor, Oxford House, 15, Rustoum Bagh, Main Road of Airport Road,
Bangalore - 560 017. 2) Gala No.6 and
7, Udyog Mandir, 7-C, Bhagoji Kheer Marg, Mahim (West), Mumbai and B) Creation of
equitable mortgage on the following immovable property of the Company : 3) Commercial
premises at Unit No.201, II Floor, Regent Plaza bearing S.No.5/1A/1, Village
Baner, Pune - 411016. |
|
Date of
instrument modifying the charge |
12.03.2010 |
|
Particulars of
the present modification |
The charge is reduced
from Rs.48.200 Millions to Rs.35.000 Millions as detailed below : a) Sec. OD limit
of Rs.350 remains unchanged. b) SL of BG
increased from Rs.1.000 Millions to Rs.2.000 Millions. c) SL of LC and
IBN of Rs.1.000 Millions each
sanctioned. d) Term Loans of
Rs.7.500 Millions and
Rs.5.700 Millions are closed. Further, 1. EM on Unit
No.6 and 7, Udyog Mandir, 7C, B.K. Marg, Mahim, Mumbai and Flat No. 404,
Oxford House, Airport Road Bangalore is extended. 2. EM on
Commercial premises at Unit No.201, S.No.5/1A/1, Village Baner, Pune is
created. |
FIXED ASSETS
· Furniture and Fixture
· Electrical Installation
· Office Equipment
· Mobile
· Computers
· Motor Car
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.55.20 |
|
|
1 |
Rs.88.38 |
|
Euro |
1 |
Rs.71.47 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
31 |
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.