MIRA INFORM REPORT
|
Report Date : |
29.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
JSL ARCHITECTURE LIMITED (w.e.f.04.04.2011) |
|
|
|
|
Formerly Known
As : |
JINDAL ARCHITECTURE LIMITED (w.e.f.07.12.2005) SUBIR CONSULTANTS AND SERVICES LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 64, 2nd
Floor, Udyog Vihar, Phase IV, Gurgaon – 122016, Haryana |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
21.07.2004 |
|
|
|
|
Com. Reg. No.: |
05-035975 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 76.627
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899HR2004PLC035975 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJCS1552R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Architectural Applications of Stainless Steel and Providing
Turnkey Solutions for the same. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having a moderate track record.
There appears sharp dip in the turnover and profitability of the company
during 2012. The company has also recorded huge external borrowings. However,
trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealings with some
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term (Revised from BBB-) |
|
Rating Explanation |
Moderate risk of default |
|
Date |
March 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term (Revised from A3) |
|
Rating Explanation |
Minimal degree of safety it carry very high
credit risk. |
|
Date |
March 2013 |
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.
LOCATIONS
|
Registered/ Head Office : |
Plot No. 64, 2nd
Floor, Udyog Vihar, Phase IV, Gurgaon – 122016, Haryana, India |
|
Tel. No.: |
91-124-4127700/ 4127784 |
|
Fax No.: |
91-124-4127777/ 4127729 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Works
: |
Village Pathredi, Bilaspur-Tauru Road, Gurgaon, Haryana,
India |
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|
|
|
Regional
Office 1 : |
CRD Smarth, 4th Floor, Plot No. 86, S.V. Road, Opposite HP
Petrol Pump, Khar West, Mumbai –
400052, Maharashtra, India |
|
Tel. No.: |
91-22-26044794 |
|
|
|
|
Regional
Office 2 : |
Kshitij Carnations, BG - 002 '/B' Block, Ground Floor, 27,
4th Cross, Hanumangiri Layout,
Chikkallasandra, Bangalore – 560061, Karnataka, India |
|
Tel. No.: |
91-81-26395773 |
|
|
|
|
Regional
Office 3 : |
3 A, Duckback House - 41, Shakespeare Sarani, Kolkata –
700017, West Bengal, India |
|
Tel. No.: |
91-33-40021300 |
DIRECTORS
AS ON 29.08.2012
|
Name : |
Mrs. Deepika Jindal |
|
Designation : |
Managing Director |
|
Address : |
6 Prithvi Raj Road, New Delhi – 110011, India |
|
Date of Birth/Age : |
18.02.1965 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.09.2008 |
|
PAN No.: |
AAFPJ2847R |
|
DIN No.: |
00015188 |
|
|
|
|
Name : |
Mr. Nirmal Chandra Mathur |
|
Designation : |
Director |
|
Address : |
C-2/9, Vasant Vihar, New Delhi – 110057, India |
|
Date of Birth/Age : |
11.09.1944 |
|
Qualification : |
B Tech (H) from
BITS, Pilani |
|
Date of Appointment : |
15.10.2005 |
|
DIN No.: |
00004527 |
|
|
|
|
Name : |
Mr. Rajiv Rajvanshi |
|
Designation : |
Director |
|
Address : |
B-25, Kailash Apartments, New Delhi – 110048, India |
|
Date of Birth/Age : |
15.05.1964 |
|
Qualification : |
BSC, MBA (System
and Finance) |
|
Date of Appointment : |
12.12.2005 |
|
DIN No.: |
00036605 |
|
|
|
|
Name : |
Mr. Anuj Jain |
|
Designation : |
Director |
|
Address : |
W-005, Regency Park-2, DLF City – 4, Gurgaon, Haryana, India |
|
Date of Birth/Age : |
21.07.1968 |
|
Qualification : |
Masters in
International Trade from IIFT New Delhi, Advanced Management Programme from
London Business School, London. |
|
Date of Appointment : |
17.01.2011 |
|
DIN No.: |
03402834 |
|
|
|
|
Name : |
Mr. Jitender Pal Verma |
|
Designation : |
Director |
|
Address : |
155, Shakti Vihar, Pitampura, New Delhi – 110034, India |
|
Date of Birth/Age : |
14.11.1964 |
|
Qualification : |
Commerce
Graduate from Delhi University and a Fellow member of the Institute of
Chartered Accountants of India (ICAI) |
|
Date of Appointment : |
24.01.2012 |
|
DIN No.: |
05139151 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh Kumar Pandey |
|
Designation : |
Secretary |
|
Address : |
MH-866, Near Bharna Kuan Shahabad, Mohammadpur, New Delhi – 110061,
India |
|
Date of Birth/Age : |
17.07.1979 |
|
Date of Appointment : |
01.03.2012 |
|
PAN No.: |
ARUPP2371A |
|
|
|
|
Name : |
Mr. Kartik |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ved Vashisth |
|
400 |
|
Om Prakash Verma |
|
400 |
|
P.D. Sharma |
|
400 |
|
Parmod Kumar Garg |
|
400 |
|
Dinesh Khanna |
|
400 |
|
Sunil Mittal |
|
400 |
|
JSL Stainless Limited, India (Formerly Known as Jindal Stainless
Limited) |
|
4100100 |
|
Pacific Metallic Trading Company Limited, India |
|
1515152 |
|
Jindal Stainless Steelway Limited, India |
|
2000000 |
|
Ashish Saxena |
|
30000 |
|
Gagan Saxena |
|
15000 |
|
|
|
|
|
Total |
|
7662652 |
AS ON 29.08.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
99.38 |
|
Other
top fifty shareholders |
|
0.62 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Architectural Applications of Stainless Steel and
Providing Turnkey Solutions for the same. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Stainless Steel Products |
M.T. |
1,800 |
1434 |
Note:
i) Licensed
capacity is not applicable in view of the Company's production having been delicensed
as per the Liberalised Licensing Policy announced by the Government of India.
ii) Installed capacity is as certified by the management.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
Bankers : |
Ø State Bank of Indore,
Commercial Branch, M-47, Connaught Circus, New Delhi – 110001, India Ø HDFC Bank
Limited Ø AXIS Bank
Limited Ø Punjab National
Bank, BO : Large Corporate Branch, U & I Building, Sector - 29, Gurgaon -
122002, Haryana, India Ø State Bank of
India Ø YES Bank Ø Syndicate Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
N.C. Aggarwal
and Company Chartered Accountants |
|
Address : |
102, Harsha
House, Karampura Commercial Complex, New Delhi, India |
|
Tel. No.: |
91-11-25920555-56 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFN9149H |
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|
|
|
Holding company
: |
Ø Jindal Stainless
Limited [L26922HR1980PLC010901] |
|
|
|
|
Fellow
Subsidiary company : |
Ø JSL Media
Limited Ø Green Delhi BQS
Limited [U45400DL2007PLC164938] Ø Jindal Stainless
Steelway Limited [U27109DL2004PLC128146] Ø PT Jindal
Stainless Indonesia Ø JSL Lifestyle
Limited (Formerly Austenitic Creations Private Limited)
[U74920HR2003PLC035976] Ø Jindal Stainless
UK Limited Ø Jindal Stainless
FZE Ø Jindal Stainless
Srl. Italy Ø JSL Media
Limited (Formerly Parivartan City Infrastructure Limited)
[U70102DL2007PLC170019] Ø Jindal Stainless
Madencilik Sanayi Ve Ticaret A.S., Turkey Ø JSL Group
Holdings Pte. Limited, Singapore Ø JSL Ventures
Pte. Limited, Singapore Ø JSL Europe S.A.,
Switzerland Ø JSL Minerals and
Metals S.A., Switzerland Ø Jindal Aceros
Inoxidables S.L. Spain Ø JSL Logistics
Limited Ø Iberjindal S.L.
Spain |
|
|
|
|
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives
: |
Ø J.S.S.
Steelitalia Limited [U27310HR2007PLC036578] |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 80.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,662,652 |
Equity Shares |
Rs. 10/- each |
Rs. 76.627
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 |
76.627 |
76.177 |
76.177 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.450 |
|
|
3] Reserves & Surplus |
76.530 |
72.188 |
26.044 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
153.157 |
148.365 |
102.671 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
256.803 |
135.340 |
178.909 |
|
|
2] Unsecured Loans |
192.160 |
182.232 |
172.304 |
|
|
TOTAL BORROWING |
448.963 |
317.572 |
351.213 |
|
|
DEFERRED TAX LIABILITIES |
9.730 |
9.091 |
11.918 |
|
|
|
|
|
|
|
|
TOTAL |
611.850 |
475.028 |
465.802 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
219.684 |
228.252 |
266.467 |
|
|
Capital work-in-progress |
34.472 |
0.804 |
0.275 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.230 |
0.230 |
0.230 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
257.117
|
131.741 |
151.120 |
|
|
Sundry Debtors |
284.723
|
213.711 |
191.264 |
|
|
Cash & Bank Balances |
77.207
|
63.596 |
18.854 |
|
|
Other Current Assets |
0.641
|
0.133 |
0.000 |
|
|
Loans & Advances |
78.727
|
33.019 |
41.999 |
|
Total
Current Assets |
698.415
|
442.200 |
403.237 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
271.175
|
126.754 |
130.953 |
|
|
Other Current Liabilities |
62.194
|
63.075 |
59.729 |
|
|
Provisions |
7.582
|
6.629 |
13.725 |
|
Total
Current Liabilities |
340.951
|
196.458 |
204.407 |
|
|
Net Current Assets |
357.464
|
245.742 |
198.830 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
611.850 |
475.028 |
465.802 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
599.468 |
801.424 |
449.808 |
|
|
|
Other Income |
2.651 |
1.105 |
0.324 |
|
|
|
TOTAL |
602.119 |
802.529 |
450.132 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
349.513 |
|
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(101.576) |
5.831 |
|
|
|
|
Employee benefit expense |
88.911 |
85.636 |
|
|
|
|
Other expenses |
208.303 |
256.313 |
|
|
|
|
TOTAL |
545.151 |
688.858 |
387.234 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
56.968 |
113.671 |
62.898 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
32.524 |
28.885 |
38.049 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
24.444 |
84.786 |
24.849 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
18.365 |
14.727 |
13.996 |
|
|
|
|
|
|
|
|
|
|
EXTRAORDINARY
ITEMS BEFORE TAX |
0.000 |
(1.625) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
6.079 |
68.434 |
10.853 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.737 |
22.290 |
1.937 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
4.342 |
46.144 |
8.916 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
46.872 |
10.728 |
1.812 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
10.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
51.214 |
46.872 |
10.728 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
0.000 |
1.144 |
5.278 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
9.219 |
9.371 |
16.174 |
|
|
|
Stores & Spares |
2.452 |
3.001 |
2.432 |
|
|
|
Capital Goods |
41.873 |
0.000 |
17.143 |
|
|
TOTAL IMPORTS |
53.544 |
12.372 |
35.749 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic
|
0.57 |
6.27 |
1.35 |
|
|
|
Diluted
|
0.57 |
6.06 |
1.35 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.72
|
5.75 |
1.98 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.01
|
8.54 |
2.41 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.66
|
10.21 |
1.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.46 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.93
|
2.14 |
3.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.05
|
2.25 |
1.97 |
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 |
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
Intercorporate borrowings |
192.160 |
182.232 |
|
Total |
192.160 |
182.232 |
FINANCIAL PERFORMANCE
Turnover: There is
decline of 25.22% in the turnover over the corresponding previous year, the decline
in turnover was mainly due to delays experienced by the Companies client in
METRO segment, where the orders were delayed.
EBIDTA: The
Company has achieved the EBIDTA (Earnings before Interest, Depreciation, Taxes
& Amortisation) of Rs. 65.200 Millions during the year ended March 31st,
2012 as compared to Rs. 116.300 Millions for the corresponding previous year
ended March 31st, 2011. Cash Profits of the Company is Rs. 35.500 Millions
during the year ended March 31st, 2012 as compared to Rs. 95.800 Millions for
the corresponding previous year ended March 31st, 2011.
OPERATIONAL PERFORMANCE
The major
highlights of operational performance for year ended March, 12 are as under:-
Ø The Company has
successfully completed the RS6 order of Bharat Earth Movers Limited in the
METRO Segment.
Ø The Company has
made successful in roads in the Railways segment in Rail Coach Factory and
Integral Coach Factory
Ø The Company
ascertained its excellence in the Airports and Bus Shelter Segment.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. in Millions) |
|
|
Counter
Guarantee given to Company’s Bankers for the guarantee given by them on
behalf of Company |
36.491 |
24.795 |
|
Liability for duty saved for import under EPCG Scheme. |
13.139 |
13.139 |
|
Disputed Sales Tax Liability under UP Trade Tax |
4.205 |
0.000 |
|
Disputed Income Tax Liability |
4.887 |
0.000 |
FIXED ASSETS:
Ø Land
Ø Buildings
Ø Factory building
Ø Plant and equipment
Ø Factory equipments
Ø Furniture and fixtures
Ø Vehicles
Ø Motor vehicles
Ø Office equipment
Ø Computer equipments
Ø Other equipments
Ø Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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. 54.29 |
|
|
1 |
Rs. 83.88 |
|
Euro |
1 |
Rs. 70.68 |
INFORMATION DETAILS
|
Report Prepared by
: |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.