|
Report Date : |
18.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE INDUSTRIAL INFRASTRUCTURE LIMITED |
|
|
|
|
Registered
Office : |
NKM International House, 5th Floor, 178 Backbay Reclamation, Behind LIC Yogakshema Building, Babubhai Chinai Road, Mumbai – 400020, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
29.09.1988 |
|
|
|
|
Com. Reg. No.: |
049019 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.151.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L60300MH1988PLC049019 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR15437C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR7637P |
|
|
|
|
Legal Form : |
A Public Limited
Liability Company. The Company's Shares are Listed on the Stock Exchanges |
|
|
|
|
Line of Business
: |
|
|
|
The company is mainly engaged in Infrastructure activity. |
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa (72) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 8582012 |
|
|
|
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Reliance Group Company. It is a well established and reputed company have excellent track.
Financially company performance is good. Fundamental seems healthy and
strong. Trade relations are reported as fair. Business is active. Payments
are reported to be regular and as per commitments. The company can be considered for good 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 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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
Management non co-operative (Name not disclosed)
LOCATIONS
|
Registered Office : |
NKM International House, 5th Floor, 178 Backbay Reclamation, Behind LIC Yogakshema Building, Babubhai Chinai Road, Mumbai – 400020, Maharashtra, India |
|
Tel. No.: |
91-22-44779053 |
|
Fax No.: |
91-22-44779052 |
|
E-Mail : |
DIRECTORS
AS ON 05.07.2012
|
Name : |
Mr. Mahesh Kalidas Kamdas |
|
Designation : |
Director |
|
Address : |
2201 , Chaitanya Towers , 'C' Wing , App Asaheb Marathe Marg , Prabhadevi , Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
27.09.1951 |
|
Date of Appointment : |
23.07.1990 |
|
Din No.: |
00013915 |
|
|
|
|
Name : |
Mr. Dilipkumar Vittaldas Dherai |
|
Designation : |
Director |
|
Address : |
Flat No.504, 5th Floor, Sayadhari Neelkanth Valley, Ghatkoper
(East), Mumbai – 400077, Maharashtra, India |
|
Date of Birth/Age : |
09.04.1956 |
|
Date of Appointment : |
01.07.1994 |
|
Din No.: |
00011789 |
|
|
|
|
Name : |
Mr. Chandra Raj Mehta |
|
Designation : |
Director |
|
Address : |
A/602, Shilp Near Deepak Cinema, P B Marg, Worli, Mumbai – 400013,
Maharashtra, India |
|
Date of Birth/Age : |
16.03.1939 |
|
Date of Appointment : |
29.08.2006 |
|
Din No.: |
00002011 |
|
|
|
|
Name : |
Mr. Sandeep Hemendra Junnarkar |
|
Designation : |
Director |
|
Address : |
Flat No.1702, Wallace Apartment, Naushir Bharucha Marg, Mumbai –
400007, Maharashtra, India |
|
Date of Birth/Age : |
02.07.1951 |
|
Date of Appointment : |
27.04.1991 |
|
Din No.: |
00003534 |
|
|
|
|
Name : |
Mr. Subhashchandra Anantram Malhotra |
|
Designation : |
Director |
|
Address : |
602, Tulsi Shyam Chs Limited, Highway Junction Road, Thane (West),
Mumbai – 400604, Maharashtra, India |
|
Date of Birth/Age : |
13.11.1940 |
|
Date of Appointment : |
16.12.1989 |
|
Din No.: |
00013967 |
|
|
|
|
Name : |
Mr. Shankar Natarajan |
|
Designation : |
Director |
|
Address : |
10 Balaji Prasad Chs, Near Canara Bank, R B Mehta Road, Ghatkoper
(East), Mumbai – 400077, Maharashtra, India |
|
Date of Birth/Age : |
16.09.1953 |
|
Date of Appointment : |
29.03.2012 |
KEY EXECUTIVES
|
Name : |
Mr. Swatantra Kumar Sethi |
|
Designation : |
Secretary |
|
Address : |
Flat No. A/302, 3rd Floor, Bhumika Avenue, Plot Nos. 38,42,43,
Sector – 50, Nerul, Navi Mumbai – 400706, Maharashtra, India |
|
Date of Birth/Age : |
08.03.1958 |
|
Date of Appointment : |
18.01.2007 |
|
Date of Ceasing: |
29.03.2012 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2012
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of promoter
and Promoter Group |
|
|
|
1) Indian |
|
|
|
a) Bodies corporate |
6860064 |
45.43 |
|
2) Foreign |
|
|
|
|
|
|
|
(B) Public Shareholdings |
|
|
|
1) Institutions |
|
|
|
a) Mutual Funds |
800 |
0.01 |
|
b) Financial Institutions/Banks |
10434 |
0.07 |
|
c) Foreign Institutional Investors |
28902 |
0.19 |
|
|
|
|
|
2) Non – Institution |
|
|
|
a) Bodies corporate |
1332062 |
8.82 |
|
|
|
|
|
b) Individuals |
|
|
|
i. Individual Shareholders holding nominal share capital upto Rs.0.100
Million |
6355649 |
42.09 |
|
ii. Individual Shareholders holding nominal share capital in excess
Rs.0.100 Million |
245130 |
1.62 |
|
|
|
|
|
c) Any other |
|
|
|
i) NRI – Repatriable |
149174 |
0.99 |
|
ii) Clearing Member |
116785 |
0.77 |
|
iii) Any Others |
1000 |
0.01 |
|
|
|
|
|
Total |
15100000 |
100.00 |
AS ON 05.07.2012
|
Category |
Percentage |
|
Nationalised or
other Banks |
0.09 |
|
Mutual Funds |
0.01 |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
1.18 |
|
Bodies corporate |
55.35 |
|
Directors or relatives of Directors |
0.01 |
|
Other top fifty shareholders |
3.22 |
|
Others |
40.14 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is mainly engaged in Infrastructure activity. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
· IDBI Bank Limited, 224-A; Mittal Court, Nariman Point, Mumbai - 400021, Maharashtra, India ·
UTI Bank Limited, Central Office, Maker Towers'f',
13th Floor, Cuffe Parade, Colaba, Mumabai - 400005, Maharashtra, India · HDFC Bank Limited · ICICI Bank Limited ·
Syndicate Bank |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountant |
|
Address : |
714-715, Tulsiani Chambers 212, Nariman Point, Mumbai – 400021,
Maharashtra, India |
|
|
|
|
Subsidiaries : (AS ON 31.03.2011) |
· Reliance Corporate Centre Limited ( Upto 25th August, 2009 ) · Reliance Convention and Exhibition Centre Limited ( Upto 25th August, 2009 ) |
|
|
|
|
Associates : |
Reliance Industries Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000000 |
Equity Shares |
Rs.10/- each |
Rs.2000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15100000 |
Equity Shares |
Rs.10/- each |
Rs.151.000
Millions |
|
|
|
|
|
The details of Shareholder holding more than 5% shares :
|
Name of Shareholder |
No. of Shares |
31.03.2012 % held |
No. of Shares |
31.03.2011 % held |
|
Reliance Industries Limited |
6860064 |
45.43 |
6860064 |
45.43 |
The reconciliation of the number of shares outstanding is set out below:
|
Name of Shareholder |
31.03.2012 No. of Shares |
31.03.2011 No. of Shares |
|
Equity Shares at the beginning of the year |
15100000 |
15100000 |
|
Issued during the year |
-- |
-- |
|
Equity Shares at the end of the year |
15100000 |
15100000 |
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 |
151.000 |
151.000 |
151.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1994.503 |
1824.097 |
1667.087 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2145.503 |
1975.097 |
1818.087 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
222.805 |
206.435 |
234.519 |
|
|
|
|
|
|
|
|
TOTAL |
2368.308 |
2181.532 |
2052.606 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1022.787 |
648.073 |
350.252 |
|
|
Capital work-in-progress |
0.000 |
17.144 |
58.137 |
|
|
|
|
|
|
|
|
INVESTMENT |
357.737 |
262.737 |
67.737 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7.059
|
7.499 |
8.985 |
|
|
Sundry Debtors |
170.889
|
105.792 |
99.278 |
|
|
Cash & Bank Balances |
24.284
|
22.483 |
21.337 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1400.023
|
1407.047 |
1693.740 |
|
Total
Current Assets |
1602.255
|
1542.821 |
1823.340 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
146.432
|
200.275 |
154.110 |
|
|
Other Current Liabilities |
393.557
|
6.291 |
6.425 |
|
|
Provisions |
74.482
|
82.677 |
86.324 |
|
Total
Current Liabilities |
614.471
|
289.243 |
246.859 |
|
|
Net Current Assets |
987.784
|
1253.578 |
1576.481 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2368.308 |
2181.532 |
2052.606 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
613.429 |
560.204 |
511.606 |
|
|
|
Other Income |
89.057 |
145.777 |
75.351 |
|
|
|
TOTAL (A) |
702.486 |
705.981 |
586.957 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Services cost |
0.000 |
0.000 |
121.895 |
|
|
|
Employee Benefits Expense |
115.918 |
118.388 |
81.317 |
|
|
|
Other Expenses |
207.832 |
277.411 |
73.165 |
|
|
|
TOTAL (B) |
323.750 |
395.799 |
276.377 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
378.736 |
310.182 |
310.580 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
14.976 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
378.736 |
310.182 |
295.604 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
63.342 |
57.047 |
46.316 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
315.394 |
253.135 |
249.288 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
79.274 |
29.294 |
29.533 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
236.120 |
223.841 |
219.755 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
405.299 |
NA |
NA |
|
|
TOTAL IMPORTS |
405.299 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.64 |
14.82 |
-- |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
|
30.06.2012 |
|
Type |
|
|
1st
Quarter |
|
Sales Turnover |
|
|
169.310 |
|
Total Expenditure |
|
|
91.040 |
|
PBIDT (Excl
OI) |
|
|
78.270 |
|
Other Income |
|
|
21.680 |
|
Operating
Profit |
|
|
99.950 |
|
Interest |
|
|
0.000 |
|
Exceptional
Items |
|
|
0.000 |
|
PBDT |
|
|
99.950 |
|
Depreciation |
|
|
25.240 |
|
Profit
Before Tax |
|
|
74.710 |
|
Tax |
|
|
21.470 |
|
Reported PAT |
|
|
53.230 |
|
Extraordinary Items |
|
|
0.000 |
|
Prior Period Expenses |
|
|
0.000 |
|
Other Adjustments |
|
|
0.000 |
|
Net Profit |
|
|
53.230 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
33.61
|
31.71 |
37.44 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
51.41
|
45.18 |
48.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.01
|
11.55 |
11.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.13 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.29
|
0.15 |
0.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.61
|
5.33 |
7.39 |
LOCAL AGENCY FURTHER INFORMATION
TRADE PAYABLES DETAILS:
PARTICULARS
|
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
Rs.
In Millions 31.03.2010 |
|
Micro, Small and Medium Enterprises |
0.000 |
0.000 |
0.000 |
|
Others |
146.432
|
200.275 |
154.110 |
|
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
Yes |
|
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 |
No |
|
25] |
Conduct of the banking
account |
---------------------- |
|
26] |
Buyer visit details |
No |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
No |
|
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 |
No |
Management
Discussion and Analysis
Financial and
Operational Review
The Company has earned a gross income of Rs. 702.500 Millions for the
financial year 2011-12, as compared to
Rs.706.000 Millions in the previous year.
The profit before depreciation and tax for the year increased by 22% to
Rs.378.700 Millions as against Rs.310.200 Millions in the previous year. The
Company’s net profit for the year was marginally higher at Rs.236.100 Millions
as compared to Rs. 223.800 Millions in the previous year.
Depreciation during the year was at Rs.63.300 Millions as compared to
Rs. 57.100 Millions in the previous year. Return on Equity was maintained at
12.0%, same as previous year and Return on Capital Employed was at 16.7% as compared
to 14.7% in the previous year.
Earnings per share was Rs.15.64 as compared to Rs.14.82 in the previous
year.
Resources and
Liquidity
The Company’s net worth as on 31st March, 2012 stood at Rs.2145.500
Millions, with paid-up capital of Rs.151.000 Millions and accumulated reserves
and surplus of Rs.1994.500 Millions as compared to net worth of Rs. 1975.100
Millions, with paid-up capital of Rs.151.000 Millions and accumulated reserves
and surplus of Rs. 1824.100 Millions as on 31st March, 2011.
Industry Structure
and Developments
The infrastructure sector mainly consists of assets and services such as
urban infrastructure, road transport, ports, airport and other utilities. India
remains a front runner in economic growth. The Indian economy is expected to
gain ground and the GDP growth rate is estimated at 7-8% in 2012-13. India has
huge potential to surge ahead provided focused policy measures are taken which
can enable infrastructure growth and development together.
Opportunities
India is still in a transitory stage of development of its
infrastructure. Continuing its focus on infrastructure development, the
Government has proposed measures through its Union Budget 2012-13 which are
expected to maintain the growth momentum in the economy and help it continue
along its path of growth in the medium term.
Outlook
The Company will continue to keep its focus in the infrastructure sector
and is confident of maintaining its growth rate.
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.53.97 |
|
|
1 |
Rs.87.52 |
|
Euro |
1 |
Rs.70.84 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
72 |
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.