MIRA
INFORM REPORT
|
Report Date : |
25.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
ARYA IRON AND STEEL COMPANY PRIVATE LIMITED |
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Registered
Office : |
51-53A, Mittal Court, Nariman Point, Mumbai – 400 021, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
27.07.2004 |
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Com. Reg. No.: |
11-147715 |
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Capital Investment
/ Paid-up Capital : |
Rs.185.431
millions |
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CIN No.: [Company Identification
No.] |
U27100MH2004PTC147715 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA22803E |
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PAN No.: [Permanent Account No.] |
AAECA8083G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Iron Ore Pellets. |
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No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 5090000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an
established company having satisfactory track record. There appears some dip in
the profitability of the company. However, general financial position of the
company is good. Trade relations
are reported as fair. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loan: BBB |
|
Rating Explanation |
Moderate degree of safety it carry moderate risk. |
|
Date |
August, 2012 |
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Rating Agency Name |
ICRA |
|
Rating |
Short Term: A2 |
|
Rating Explanation |
Strong degree of safety it carry low credit risk. |
|
Date |
August, 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 PARTED BY
|
Name : |
Mr. Subhash |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-40696000 |
|
Date : |
22.04.2013 |
LOCATIONS
|
Registered Office : |
51-53A, Mittal Court, Nariman Point, Mumbai – 400 021, Maharashtra,
India |
|
Tel. No.: |
91-22-40696000 |
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Mobile No.: |
91-9583000343 (Mr. Pravesh Pandey – Deputy General Manager) |
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Fax No.: |
91-22-40696060 |
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E-Mail : |
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Website : |
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Factory : |
107/1, 108/1, Matkambeda, Industrial Estate, Borbil, District
Keonjhar– 758 053, Orissa, India |
DIRECTORS
As on 17.09.2012
|
Name : |
Mr. Ravi Maniram Arya |
|
Designation : |
Managing Director |
|
Address : |
6, Satlaj Terrace, 6th Floor, Walkeshwar Road, Mumbai – 400
006, Maharashtra, India |
|
Date of Birth/Age : |
12.10.1954 |
|
Date of Appointment : |
01.01.2008 |
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PAN No.: |
AADPA7751M |
|
DIN No.: |
00767007 |
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|
|
Name : |
Mr. Nakul Ravindrakumar Arya |
|
Designation : |
Director |
|
Address : |
6, Satlaj Terrace, 6th Floor, Walkeshwar Road, Mumbai – 400
006, Maharashtra, India |
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Date of Birth/Age : |
02.11.1980 |
|
Date of Appointment : |
27.07.2004 |
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PAN No.: |
ADEPA4689A |
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DIN No.: |
00372428 |
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Name : |
Mr. Puneet Pawankumar Arya |
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Designation : |
Director |
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Address : |
403, Samundra Mahal, Dr. A.B. Road, Worli, Mumbai – 400 018, Maharashtra,
India |
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Date of Birth/Age : |
29.04.1980 |
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Date of Appointment : |
27.07.2004 |
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PAN No.: |
ADYPA7874M |
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DIN No.: |
00726275 |
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Name : |
Mr. Sunil Kumar Jain |
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Designation : |
Director |
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Address : |
Flat No. 551, Pocket Gh- 13, Paschim Vihar, New Delhi – 110 087, India
|
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Date of Birth/Age : |
30.12.1960 |
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Date of Appointment : |
27.09.2010 |
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PAN No.: |
ADKPJ9105E |
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DIN No.: |
01308863 |
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Name : |
Mr. Pawan Kumar Maniram Arya |
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Designation : |
Whole Time Director |
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Address : |
403, Samundra Mahal, Dr. A.B. Road, Worli, Mumbai – 400 018,
Maharashtra, India |
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Date of Birth/Age : |
18.01.1953 |
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Date of Appointment : |
01.01.2008 |
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PAN No.: |
AADPA7839A |
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DIN No.: |
01659667 |
KEY EXECUTIVES
|
Name : |
Mr. Subhash |
|
Designation : |
Accounts Manager |
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|
Name : |
Mr. Pravesh Pandey |
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Designation : |
Deputy General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 17.09.2012
|
Names of Shareholders |
No. of Shares |
|
Pawan Arya |
895000 |
|
Poonam Arya |
900000 |
|
Puneet Arya |
1195000 |
|
Tripti Arya |
5000 |
|
Pawan Kumar HUF |
5000 |
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|
895000 |
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Sushma Arya |
900000 |
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Nakul Arya |
1195000 |
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|
5000 |
|
Varun Arya |
5000 |
|
M.P. Recycling Company Private Limited, India |
1776956 |
|
Palmview Investments Overseas Limited, British Virgin Island |
9086095 |
|
Arya Ship Breaking Company Private Limited, |
1680000 |
|
Total
|
18543051 |
As on 17.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
67.69 |
|
Directors or relatives of Directors |
32.31 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Iron Ore Pellets. |
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Products : |
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Imports : |
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Products : |
·
Raw Material |
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Countries : |
·
China |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Iron Ore Pellets |
Lacs in MT |
12.00 |
8.13 |
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GENERAL INFORMATION
|
Suppliers : |
·
TP Sahu and Sons (Private) Limited, Orissa |
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Customers : |
Wholesalers and Retailers ·
Adhunik Metaliks Limited, Kolkata |
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No. of Employees : |
500 (Approximately) |
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Bankers : |
·
Oriental Bank of Commerce, Kalbadevi Branch,
17/19, Bomanji Master Lane, New Silk Bazar, Mumbai – 400 002, Maharashtra,
India ·
Oriental Bank of Commerce, Fort Branch, Jash
Chambers, Ground Floor, Sir P.M. Road, Fort, Mumbai – 400 001, Maharashtra,
India (Contact No.: 91-22-22659430) |
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Facilities : |
Notes: (A) a) Cash
Credit Facility from OBC amounting to Rs.74.379 millions (PY Rs.43.655
millions) is secured against hypothecation of stocks of raw material, stock in
process, finished goods, stores and spares and receivables of the Company and
personal guarantee of Promoter Directors. It carries interest rate of 13.75%
(3% + Base Rate of 10.75%). b) Bills Discounted from OBC amounting to
Rs.737.886 millions (PY Rs.205.123 millions) is secured against hypothecation
of stock of raw material, stock in process, finished goods, stores and spares
and receivables of the Company and personal guarantee of Promoter Directors.
The rate of interest is as per the directives and guidelines issued by the
Reserve Bank of India from time to time. c) Buyers Credit Facility from OBC
amounting to Rs.160.229 millions (PY Rs.248.158 millions) is secured against
hypothecation of stock of raw material, stock in process, finished goods, stores
and spares and receivables of the Company and personal guarantee of Promoter
Directors. The rate of interest is as per the directives and guidelines
issued by the Reserve Bank of India from time to time. d) Overdraft Facility
against fixed deposits from OBC amounting to Rs.678.583 millions (PY Rs. Nil)
is secured against fixed deposits of the Company with OBC and personal
guarantee of Promoter Directors. The rate of interest is Coupon rate plus 1%. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Singrodia Goyal and Company Chartered Accountants |
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Address : |
4/A,
Kaledonia-Hdil, 2nd Floor, Sahar Road, Andheri (East), Mumbai,
Maharashtra, India |
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PAN No.: |
AAAFS7106D |
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Other Related Parties : |
Arya Ship Breaking Company Private Limited, India CIN No.: U35110MH1983PTC030484 Goyal Traders, India International Minerals Trading Company Private Limited, India CIN No.: U51420MH2008PTC179965 Arya Integrated Steel Private Limited, India CIN No.: U27100MH2010PTC202409 M.P. Recycling Company Private Limited, India CIN No.: U37100MH2002PTC138164 N.T. Recycling Company Private Limited, India CIN No.: U35110MH2003PTC143122 Arya Ship Breaking Corporation, India PNV Enterprises Private Limited, India CIN No.: U65923MH2010PTC200498 Arya Mines and Metals Private Limited, India CIN No.: U27109MH2010PTC204325 |
CAPITAL STRUCTURE
As on 17.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
18543051 |
Equity Shares |
Rs.10/- each |
Rs.185.431
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 |
185.431 |
185.431 |
185.431 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1087.038 |
1263.898 |
963.398 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1272.469 |
1449.329 |
1148.829 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1651.077 |
496.936 |
1656.797 |
|
|
2] Unsecured Loans |
5.489 |
5.500 |
0.000 |
|
|
TOTAL BORROWING |
1656.566 |
502.436 |
1656.797 |
|
|
DEFERRED TAX LIABILITIES |
221.462 |
201.799 |
107.801 |
|
|
|
|
|
|
|
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TOTAL |
3150.497 |
2153.564 |
2913.427 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2083.270 |
2111.124 |
2024.894 |
|
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Capital work-in-progress |
10.723 |
40.493 |
204.254 |
|
|
|
|
|
|
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|
INVESTMENT |
1.500 |
1.500 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
555.596
|
293.624
|
206.964
|
|
|
Sundry Debtors |
780.213
|
548.089
|
209.605
|
|
|
Cash & Bank Balances |
1244.076
|
693.111
|
489.517
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
562.838
|
464.061
|
295.275
|
|
Total
Current Assets |
3142.723
|
1998.885
|
1201.361 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
97.009
|
43.164
|
81.463 |
|
|
Other Current Liabilities |
299.866
|
325.796
|
399.026
|
|
|
Provisions |
1690.844
|
1629.478
|
36.593
|
|
Total
Current Liabilities |
2087.719
|
1998.438
|
517.082 |
|
|
Net Current Assets |
1055.004
|
0.447
|
684.279
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3150.497 |
2153.564 |
2913.427 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
|
|
|
Income |
6241.160 |
5696.484 |
2145.187 |
|
|
|
Other Income |
|
|
12.212 |
|
|
|
TOTAL |
6241.160 |
5696.484 |
2157.399 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
|
3102.024 |
727.680 |
|
|
|
Personnel Expenses |
|
|
91.220 |
|
|
|
Manufacturing and Other Expenses |
|
|
630.571 |
|
|
|
Increase/ Decrease in Stock |
|
|
68.615 |
|
|
|
TOTAL |
3983.888 |
3102.024 |
1518.086 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS) BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
2257.272 |
2594.460 |
639.313 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
73.564 |
44.093 |
180.274 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE/(LOSS) TAX, DEPRECIATION AND AMORTISATION |
2183.708 |
2550.367 |
459.039 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
121.540 |
114.437 |
107.653 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAXATION AND PRIOR PERIOD ITEMS |
2062.168 |
2435.930 |
351.386 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
ITEMS |
0.000 |
0.967 |
(2.987) |
|
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|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
2062.168 |
2436.897 |
348.399 |
|
|
|
|
|
|
|
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|
Less |
TAX |
689.497 |
843.327 |
71.847 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX |
1372.671 |
1593.570 |
276.552 |
|
|
|
|
|
|
|
|
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|
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
349.971 |
208.829 |
(67.723) |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transferred to General Reserve |
172.264 |
159.357 |
-- |
|
|
|
Proposed Dividend |
1333.245 |
1112.583 |
-- |
|
|
|
Dividend Distribution Tax |
216.286 |
180.489 |
-- |
|
|
BALANCE CARRIED
TO THE B/S |
0.847 |
349.971 |
208.829 |
|
|
|
|
|
|
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|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
60.832 |
|
|
|
Capital Goods |
NA |
NA |
10.279 |
|
|
TOTAL IMPORTS |
NA |
NA |
71.111 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
74.03 |
85.94 |
15.08 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
21.99 |
27.97
|
12.82
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
16.24
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
39.46 |
59.29
|
10.83
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.62 |
1.68
|
0.30
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.30 |
0.35
|
1.44
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.51 |
1.00
|
2.32
|
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Sundry Creditors |
97.009
|
43.164
|
81.463 |
|
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 |
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 |
No |
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15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
Yes |
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18) Major customers |
Yes |
|
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 |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
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28) Incorporation details, if applicable |
Yes |
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29) Last accounts filed at ROC |
Yes |
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30) Major Shareholders, if available |
Yes |
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31)
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
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32)
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
Yes |
|
Unsecured Loans |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Short-term Borrowings |
|
|
|
Loans and advances from others |
5.489 |
5.500 |
|
Total
|
5.489 |
5.500 |
Note:
The registered office address has been changed from 43, Ramwadi,
Kalbadevi Road, Mumbai – 400 002, Maharashtra, India to Present Address w.e.f.
01.04.2008.
OPERATIONS OF THE COMPANY:
During the year,
the Company witnessed a satisfactory performance in a challenging operating
environment. The availability of raw material and heavy rain falls affected the
operations of the Company during 2nd quarter of the year. The
Company witnessed minor decrease in the volume of production but higher
realization led to increase in turnover.
The key performances of the Company are:
There is minor
decline in production volume. Production decreased by 5.20% from 812465 MT in
year 2010-11 to 770252 MT in year 2011-12.
Turnover and other
income increased by 9.56% from Rs.5696.484 millions in year 2010-11 to
Rs.6241.160 millions in year 2011-12. EBIDTA decreased by 13.00% from
Rs.2594.460 millions in year 2010-11 to Rs.2257.272 millions in year 2011-12.
Profit after Tax decreased by 13.86% from Rs.1593.570 millions in year
2010-11 to Rs.1372.671 millions in year 2011-12.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U27100MH2004PTC147715 |
|
Name of the
company |
ARYA IRON AND STEEL
COMPANY PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
51-53A, Mittal Court, Nariman Point, Mumbai – 400 021, Maharashtra,
India Email : sgupta@aryagroup.in |
|
This form is for |
Modification
of charge |
|
Charge
identification number of the charge to be modified |
80005799 |
|
Type of charge |
Movable property
(not being pledge) Others (Stock of
Raw Material, Stock in Progress, etc.) |
|
Particular of
charge holder |
Oriental Bank of Commerce, Fort Branch, Jash Chambers, Ground Floor,
Sir P.M. Road, Fort, Mumbai – 400 001, Maharashtra, India E-Mail: emailroc@rediffmail.com |
|
Nature of instrument
creating charge |
Letter from Bank
for reduction in limits |
|
Date of
instrument Creating the charge |
23.11.2012 |
|
Amount secured by
the charge |
Rs.1050.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest: Interest rate or
such other rate as agreed between the Borrower Company and the Bank from time
to time. Penal interest in addition as agreed rate in case of default. Terms of repayment: Repayment, as
agreed between the Borrower Company and the Bank from time to time. Margin: Margin rate, as
agreed between the Borrower Company and the Bank from time to time. Extent and operation of the charge: As the Borrower
Company has repaid the term loans and at the request of the Company bank has
modified the charge on
remaining banking limit of Rs.1050.000
millions against hypothecation of Stock of Raw Material, Stock in process,
finished goods, stores and spares, all receivables and existing future plant
and machinery etc. Total charge
stands modified from Rs.2210.400 millions to Rs.1050.000 millions |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
Stock of Raw Material, Stock in process, finished goods, stores & spares,
all receivables and existing future plant and machinery First Charge over
Fixed assets of the company including mortgage of factory land building Documents of
title of bonds Foreign
Documentary demand/usance bill accompanied by airway bills/bill of landing |
|
Particulars of
the present modification |
As the Borrower
Company has repaid the term loans and at the request of the Company bank has
modified the charge on
remaining banking limit of Rs.1050.000
millions against hypothecation of Stock of Raw Material, Stock in process,
finished goods, stores & spares, all receivables and existing future
plant and machinery etc. Total charge
stands modified from Rs.2210.400 millions to Rs.1050.000 millions |
TRADE REFERENCES:
· Adhunik Metaliks Limited, Kolkata
· TP Sahu and Sons (Private) Limited, Orissa
FIXED ASSETS
·
Land and Building
·
Plant and Machinery
·
Electrical Installation
·
Furniture and Fixture
·
Office Equipment
·
Computers
·
Vehicles
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.54.30 |
|
|
1 |
Rs.82.88 |
|
Euro |
1 |
Rs.70.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.