|
Report Date : |
15.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
ARCELORMITTAL DISTRIBUTION SOLUTIONS INDIA PRIVATE
LIMITED [w.e.f. 29.07.2009] |
|
|
|
|
Formerly Known
As : |
ARCELORMITTAL-STAINLESS INTERNATIONAL INDIA PRIVATE LIMITED [w.e.f.
27.05.2008] ARCELOR STAINLESS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A/403 and B/402, 4th Floor, Delphi, Hiranandani Business
Park, Powai, Mumbai - 400076 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
09.05.2003 |
|
|
|
|
Com. Reg. No.: |
11-140373 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2.981
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51420MH2003PTC140373 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA22249D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECA5521B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Importer of all Kind of Steel Products. |
|
|
|
|
No. of Employees
: |
80 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of ‘Arcelor Foundation Solutions BV,
Luxembourg.’ It is well established company having a satisfactory track record.
Even though the company has recorded tremendous growth in its sales during
2012, it has incurred loss. However, the financial risk profile of the
company is satisfactory. Trade relations are reported as decent. Business is active. Payments
are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 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 PARTED BY
|
Name : |
Mr. Shravan Mulky |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-8898701147 |
|
Date : |
13.04.2013 |
LOCATIONS
|
Registered Office : |
A/403 and B/402, 4th Floor, Delphi, Hiranandani Business
Park, Powai, Mumbai – 400076 |
|
Tel. No.: |
91-22-42489504 |
|
Mobile No.: |
91-8898701147 (Mr. Shravan Mulky) |
|
Fax No.: |
91-22-67029546 |
|
E-Mail : |
anandrai.prakash@arcelormittal.com
shravan.mulky@arcelormittal.com
bhaskar.pendse@arcelormittal.com |
|
Website: |
|
|
Area : |
6000 Sq. ft |
|
Location: |
Owned |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Vijaykumar Brahma Bhatnagar |
|
Designation : |
Director |
|
Address : |
Flat No.22, Tower P1, ATS Green Village, Sector-93A, Noida Exp. Way,
Noida-201301, Uttar Pradesh, India |
|
Date of Birth/Age : |
21.08.1947 |
|
Date of Appointment : |
27.08.2009 |
|
DIN No.: |
02200026 |
|
|
|
|
Name : |
Mr. Manjunath Gopal Raghavelu |
|
Designation : |
Whole Time Director |
|
Address : |
Flat No. 2 B, 2nd Floor, Lotia Mansion, 453, 15th
Road, Opposite Khar Gymkhana Ground, Khar (West), Mumbai-400052, Maharashtra,
India |
|
Date of Birth/Age : |
09.06.1976 |
|
Date of Appointment : |
01.01.2012 |
|
DIN No.: |
02491745 |
|
|
|
|
Name : |
Mr. Raj Kumar Saxena |
|
Designation : |
Director |
|
Address : |
Flat No. 141, Nehru Apartments, Kalkaji, New Delhi-110019, India |
|
Date of Birth/Age : |
09.05.1950 |
|
Date of Appointment : |
27.09.2011 |
|
DIN No.: |
01146693 |
KEY EXECUTIVES
|
Name : |
Mr. Shravan Mulky |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
No. of Shares |
|
Manjunath Raghavelu Nominee of Arcelor Foundation Solutions BV,
Netherlands |
1 |
|
Arcelor Foundation Solutions BV, Netherlands |
298138 |
|
TOTAL
|
298139 |
AS ON 28.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of all Kind of Steel Products.. |
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|
Products : |
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||||||||||
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Imports : |
|
||||||||||
|
Products : |
·
Steel Products |
||||||||||
|
Countries : |
·
China ·
Dubai ·
Japan ·
Europe |
||||||||||
|
|
|
||||||||||
|
Terms : |
|
||||||||||
|
Selling : |
Cash, Credit |
||||||||||
|
|
|
||||||||||
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Customers : |
·
End Users |
|
|
|
|
No. of Employees : |
80 (Approximately) |
|
|
|
|
Bankers : |
·
HDFC Bank, Fort Branch, Mumbai, Maharashtra,
India ·
Bank of America, Nariman Point, Mumbai,
Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Hinesh R. Doshi and Company Chartered Accountants |
|
Address : |
102, First Floor, A Wing, Rajgir Court, 6 Kohinoor Road, Dadar (East),
Mumbai-400014, Maharashtra, India |
|
PAN No.: |
AACFH3118C |
|
|
|
|
Holding Company : |
·
ArcelorMittal Stainless Internationa S A ·
Arcelor Foundation Solutions B V |
|
|
|
|
Fellow Subsidiaries : |
·
ArcelorMittal Projects Netherlands ·
ArcelorMittal Commercial R.P.S. Sarl ·
ArcelorMittal International ·
ArcelorMittal Flat Carbon Europe SA ·
ArcelorMittal France ·
Dubai Steel Trading Company LLC ·
ArcelorMittal International Luxemburg |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
298139 |
Equity Shares |
Rs.10/- each |
Rs. 2.981
Millions |
|
|
|
|
|
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 |
2.981 |
2.724 |
2.724 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
173.174 |
146.728 |
29.462 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
176.155 |
149.452 |
32.186 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
231.710 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
231.710 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
407.865 |
149.452 |
32.186 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
50.864 |
13.012 |
4.371 |
|
|
Capital work-in-progress |
1.428 |
8.553 |
1.200 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
82.448 |
0.335 |
0.193 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4251.884
|
1289.017
|
55.819 |
|
|
Sundry Debtors |
1110.320
|
931.403
|
0.041 |
|
|
Cash & Bank Balances |
900.088
|
58.875
|
2.308 |
|
|
Other Current Assets |
4.851
|
0.115
|
0.000 |
|
|
Loans & Advances |
1308.154
|
154.165
|
53.719 |
|
Total
Current Assets |
7575.297
|
2433.575 |
111.887 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6950.023
|
2193.320
|
53.769 |
|
|
Other Current Liabilities |
350.377
|
67.478
|
3.783 |
|
|
Provisions |
1.772
|
45.225
|
27.913 |
|
Total
Current Liabilities |
7302.172
|
2306.023 |
85.465 |
|
|
Net Current Assets |
273.125
|
127.552
|
26.422 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
407.865 |
149.452 |
32.186 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8104.090 |
2968.730 |
68.310 |
|
|
|
Commission |
14.460 |
4.820 |
14.380 |
|
|
|
Other Income |
63.710 |
94.560 |
4.650 |
|
|
|
TOTAL |
8182.260 |
3068.110 |
87.340 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
7749.200 |
2836.820 |
62.060 |
|
|
|
Employee Remuneration and Benefits |
58.340 |
18.080 |
7.670 |
|
|
|
Other Expenses |
441.430 |
31.580 |
14.920 |
|
|
|
TOTAL |
8248.970 |
2886.480 |
84.650 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(66.710) |
181.630 |
2.690 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
182.920 |
4.410 |
0.160 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(249.630) |
177.220 |
2.530 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
5.790 |
1.390 |
0.710 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(255.410) |
175.830 |
1.820 |
|
|
|
|
|
|
|
|
|
|
TAX |
(82.110) |
58.560 |
0.610 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(173.300) |
117.270 |
1.210 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
143.770 |
26.500 |
25.290 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(29.530) |
143.770 |
26.500 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
3.585 |
1.149 |
0.000 |
|
|
|
Commission Earnings |
14.464 |
4.823 |
14.381 |
|
|
TOTAL EARNINGS |
18.049 |
5.972 |
14.381 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
6759.474 |
2223.575 |
98.371 |
|
|
TOTAL IMPORTS |
6759.474 |
2223.575 |
98.371 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(581.27) |
430.50 |
4.44 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
10000.000 |
|
|
|
|
|
Expected Sales (2013-2014) : Rs. 13000.000 Millions
The above information has been parted by Mr. Shravan Mulky.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(2.12)
|
3.82 |
1.39 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(3.15)
|
5.92 |
2.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.31)
|
7.19 |
1.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.45)
|
1.18 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.32
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04
|
1.06 |
1.31 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter 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 |
No |
FACILITIES
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Loans repayable
on demand |
|
|
|
From Bank |
|
|
|
Buyers credit facility for import payments |
231.710 |
0.000 |
|
|
|
|
|
TOTAL |
231.710 |
0.000 |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors
|
6950.023
|
2193.320
|
53.769 |
|
|
|
|
|
|
TOTAL |
6950.023
|
2193.320
|
53.769 |
CORPORATE
INFORMATION
ArcelorMittal
Distribution Solutions India Private Limited formerly known as
ArcelorMittal-Stainless International India Private Limited is a Private Limited
Company incorporated on 09 May 2003. Its main object is to carry on the
business the as Distributors, Dealers, Stockists, Agents, Indentors, Traders,
Brokers, Factors, Exporters, Importers, Wholesalers, Bulk Importers with
expanded warehouse sales related Steel and Metal products including Stainless
Steel of various grades and sizes.
BUSINESS
OPERATIONS
During the year
the Company’s turnover has increased many fold mainly due to substantial increase
in trading activities of all kind of steel products. The company has opened
stock yards at various locations in India including at Bangalore, Kolkata and
Jaipur.
The Board of Directors is hopeful of maintaining the upward trend in
turnover in the coming year.
HOLDING COMPANY
The company continues to be the wholly owned subsidiary of Arcelor
Foundation Solutions BV, Netherlands.
FIXED ASSETS
·
Software
·
Computer
·
Motor Car
·
Office Equipments
·
Furniture
·
Leasehold Improvements
WEBSITE DETAILS
NEWS
ARCELORMITTAL PRESENTS STEEL FOR WIND ENERGY AT MAJOR TECHNOLOGY EXPO
Hannover,
Germany, 9 April 2013
ArcelorMittal is presenting
its steel for wind energy at Hannover Messe, the world’s most important
technology show, from 8-12 April.
ArcelorMittal is actively involved in offering the
energy industry a complete range of products and solutions for each step of the
energy lifecycle, from production to transformation and transport. At Hannover
Messe the group is presenting its latest long and flat steel products for
renewable energy, including wind energy.
Securing a safe energy supply is one of the key
issues affecting the world, and will have a major bearing on the growth and
success of developed countries. The steel industry is contributing actively to
the development of renewable energy, while also saving CO2 emissions
with lightweight steel solutions.
Sustainable long steel
Lattice towers are ecologically attractive, as the
most cost-effective solution for the highest towers. For onshore applications
in particular, having tall wind towers allows higher wind speeds to be
harnessed, improving efficiency and turbine power. The steel towers offer
several advantages compared with other materials: a low-cost structure that is
one fifth lighter; up to 60% less foundations; corrosion protection through
galvanising; easier to deliver to difficult terrain such as hills and forests;
the lowest life cycle costs for sustainable energy production.
And flat steel products to
produce wind energy
With existing wind towers using up to 180 tonnes of
heavy plate and hundreds of individual towers in a wind farm, the logistics of
ensuring just-in-time deliveries of steel are critical for success.
ArcelorMittal’s global footprint enables us to meet
the needs of some of the leading players in this market – wherever they are
located. Our heavy plate is used to build both the tower and, in offshore
installations, the jackets that keep the turbine stable on the sea floor.
ArcelorMittal is also working with wind turbine
developers to create the next generation of towers which are lighter and do not
require welding.
We also supply non-oriented fully processed
electrical steels for the medium and high-power generators which sit at the top
of the wind tower. These steels have all the required magnetic properties, to
maximise the amount of energy each turbine can produce. Offshore wind towers
require weldable structural steels which can withstand the corrosive marine
environment.
ArcelorMittal has a number of grades which have
been specifically designed for this application. Our steels for offshore
structures offer improved workability and weldability and can be supplied
thermo mechanically rolled or normalised. They can be used in applications such
as platforms and equipment for new fixed wind towers.
Through its core values of sustainability, quality
and leadership, ArcelorMittal is committed to the sustainable management of the
environment and of finite resources, recognising that it has a significant
responsibility to tackle the global climate challenge
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 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 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. 54.44 |
|
|
1 |
Rs. 83.77 |
|
Euro |
1 |
Rs. 71.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.