1. Summary Information
|
Country |
India |
||
|
Company Name |
POSCO INDIA
CHENNAI STEEL PROCESSING CENTRE PRIVATE LIMITED |
Principal Name 1 |
Mr. Kim Sang Hyeon |
|
Status |
Moderate |
Principal Name 2 |
Mr. Byoung Song Kwan |
|
Registration # |
18-071238 |
||
|
Street Address |
Plot No. RNS 9, RNS 12 to 14, Sipcot Industrial Growth Centre,
Vadakuppattu Village, Orangadam, Sriperumbudur Taluk, Kanchipuram – 602105,
Tamilnadu, India |
||
|
Established Date |
03.04.2009 |
SIC Code |
-- |
|
Telephone# |
91-44-43443250 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-44-43443299 |
Business Style 2 |
Importer |
|
Homepage |
-- |
Product Name 1 |
Steel Coils |
|
# of employees |
Information declined by the management. |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 582,094,430/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings - 100.00% |
Banking |
HDFC Bank
Limited |
|
Public Limited Corp. |
NO |
Business Period |
4 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
B (27) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding
Company |
India
|
POSCO |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,958,238,000 |
Current Liabilities |
2,045,681,000 |
|
Inventories |
1,981,248,000 |
Long-term Liabilities |
2,058,697,000 |
|
Fixed Assets |
683,631,000 |
Other Liabilities |
35,529,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
4,139,907,000 |
|
Invest& other Assets |
9,986,000 |
Retained Earnings |
(88,898,000) |
|
|
|
Net Worth |
493,196,000 |
|
Total Assets |
4,633,103,000 |
Total Liab. & Equity |
4,633,103,000 |
|
Total Assets (Previous Year) |
3,495,508,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
-- |
Net Profit |
(72,245,000) |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
(3,630,000) |
MIRA INFORM REPORT
|
Report Date : |
02.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
POSCO INDIA CHENNAI STEEL PROCESSING CENTRE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. RNS 9, RNS 12 to 14, Sipcot Industrial Growth Centre,
Vadakuppattu Village, Orangadam, Sriperumbudur Taluk, Kanchipuram – 602105,
Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
03.04.2009 |
|
|
|
|
Com. Reg. No.: |
18-071238 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 582.094 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100TN2009PTC071238 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEP11245D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCP0211N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Importer of Steel Coils |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1900000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. Company has been incurring losses over the years which has revolted
into huge accumulated losses. However, sales of the company is growing over
the years. However, trade relations are fair. Business is active. Payment terms
are reported as 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its operations,
HMV, the British entertainment retailing company and Borders, once the second
largest bookstore have shut down due to their inability to evolve their
business models with the changing time. Readers’ Digest, Thomson Register are
no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed down.
Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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 DENIED
Management Non-Cooperative (91-44-39197500)
LOCATIONS
|
Registered Office/ Factory : |
Plot No. RNS 9, RNS 12 to 14, Sipcot Industrial Growth Centre,
Vadakuppattu Village, Orangadam, Sriperumbudur Taluk, Kanchipuram – 602105,
Tamilnadu, India |
|
Tel. No.: |
91-44-43443250 |
|
Mobile No.: |
91-9940592341[Mr. Sunder – Finance Manager] |
|
Fax No.: |
91-44-43443299 |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Kim Sang Hyeon |
|
Designation : |
Managing Director |
|
Address : |
Woo Sung 7th |
|
Date of Birth/Age : |
05.03.1966 |
|
Date of Appointment : |
03.09.2009 |
|
DIN No.: |
02854426 |
|
|
|
|
Name : |
Mr. Song Byoung Kwan |
|
Designation : |
Director |
|
Address : |
1 Eojeongmaeul seoheesamjeong apt 101-1101 817 Jung-dong Giheung-gu
Yongin-si Gyeonggi-do Gyeonggi do Korea |
|
Date of Birth/Age : |
25.03.1969 |
|
Date of Appointment : |
03.09.2009 |
|
DIN No.: |
02857732 |
MAJOR SHAREHOLDERS
As on: 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Sang Mod Doh |
5000 |
|
|
5000 |
|
Posco – |
58199443 |
|
TOTAL |
58209443 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
Percentage |
|
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 : |
Manufacturer, Trader and Importer of Steel Coils |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
HDFC Bank Limited, HDFC Bank House, Senaati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
N. R. G. Associates Chartered Accountants |
|
Address : |
New No.19 (Old No.10), I Floor, V Main Road, Rapuram, Chennai – 600028, Tamilnadu, India |
|
PAN No.: |
AAEFN7749R |
|
|
|
|
Holding company : |
POSCO, Korea |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
Rs.10/- each |
Rs. 600.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
58209443 |
Equity Shares |
Rs.10/- each |
Rs. 582.094
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
582.094 |
|
(b) Reserves & Surplus |
|
|
(88.898) |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
493.196 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
305.040 |
|
(b) Deferred tax liabilities (Net) |
|
|
31.350 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term
provisions |
|
|
3.010 |
|
Total Non-current
Liabilities (3) |
|
|
339.400 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
|
1753.657 |
|
(b) Trade
payables |
|
|
2017.841 |
|
(c) Other
current liabilities |
|
|
27.840 |
|
(d) Short-term
provisions |
|
|
1.169 |
|
Total Current
Liabilities (4) |
|
|
3800.507 |
|
|
|
|
|
|
TOTAL |
|
|
4633.103 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
|
678.585 |
|
(ii)
Intangible Assets |
|
|
5.046 |
|
(iii)
Capital work-in-progress |
|
|
9.986 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
19.149 |
|
(e) Other
Non-current assets |
|
|
0.000 |
|
Total Non-Current
Assets |
|
|
712.766 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
1981.248 |
|
(c) Trade
receivables |
|
|
1655.603 |
|
(d) Cash
and cash equivalents |
|
|
254.549 |
|
(e)
Short-term loans and advances |
|
|
25.628 |
|
(f) Other
current assets |
|
|
3.309 |
|
Total
Current Assets |
|
|
3920.337 |
|
|
|
|
|
|
TOTAL |
|
|
4633.103 |
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
582.094 |
582.094 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
(16.653) |
(13.022) |
|
|
NETWORTH |
|
565.441 |
569.072 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
87.534 |
0.000 |
|
|
2] Unsecured Loans |
|
862.730 |
0.000 |
|
|
TOTAL BORROWING |
|
950.264 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
19.278 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1534.983 |
569.072 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
708.297 |
569.682 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
4.218 |
62.483 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
6.860 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
1309.728 |
0.000 |
|
|
Sundry Debtors |
|
1283.338 |
0.051 |
|
|
Cash & Bank Balances |
|
130.001 |
8.093 |
|
|
Other Current Assets |
|
0.000 |
4.380 |
|
|
Loans & Advances |
|
59.926 |
19.556 |
|
Total
Current Assets |
|
2782.993 |
32.080 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
1949.701 |
101.745 |
|
|
Other Current Liabilities |
|
4.262 |
0.000 |
|
|
Provisions |
|
6.562 |
0.288 |
|
Total
Current Liabilities |
|
1960.525 |
102.033 |
|
|
Net Current Assets |
|
822.468 |
(69.953) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1534.983 |
569.072 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
|
0.000 |
|
|
|
Other Income |
|
|
0.000 |
|
|
|
TOTAL |
NA |
NA |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
NA |
NA |
(19.486) |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
(19.486) |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
NA |
(19.486) |
|
|
|
|
|
|
|
|
|
Less/ |
DEPRECIATION/
AMORTISATION |
NA |
NA |
0.396 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(60.100) |
27.900 |
(19.882) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
12.145 |
31.530 |
(6.860) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(72.245) |
(3.630) |
(13.022) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
High Sea Sales |
182.279 |
174.468 |
0.000 |
|
|
|
Export Sales |
1.980 |
0.000 |
0.000 |
|
|
|
Training Income |
6.630 |
1.339 |
0.000 |
|
|
TOTAL EARNINGS |
190.889 |
175.807 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
1858.134 |
748.409 |
0.000 |
|
|
|
Software |
0.000 |
5.083 |
1.091 |
|
|
|
Network Equipments |
0.000 |
4.279 |
0.000 |
|
|
|
Plant and Machinery |
0.000 |
8.257 |
153.164 |
|
|
TOTAL IMPORTS |
1858.134 |
766.028 |
154.255 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(1.24) |
(0.06) |
(0.67) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA |
NA |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.30)
|
0.80 |
(3.30) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.12)
|
0.05 |
(0.03) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.17
|
1.68 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03
|
1.42 |
0.31 |
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 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
BACKGROUND:
Subject (Posco or the company) was incorporated on 03.04.2009. As on the
date of balance sheet the company is yet to commence its commercial operations
and is in the process of constructing the factory. The company is to carry on
the business of steel processing, steel sheet, fabrication, manufacturing and
processing of steel components and parts in primary, semi finished forms for
automobiles home appliances and other steel consuming industries.
NOTE:
The Registered office of the company has been shifted from New No. 46,
Old No. 121, 3rd Floor, Dr. Radha Krishnan Salai, Mylapore, Chennai
– 600004, Tamilnadu, India to the present address w.e.f 10.05.2010.
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
|
As
on 31.03.2012 |
|
Long-term
borrowings |
|
|
|
Other external commercial borrowings |
|
305.040 |
|
Short-term
borrowings |
|
|
|
Other loans and advances |
|
1753.657 |
|
Total |
|
2058.697 |
UNSECURED LOAN
Rs.
in Millions
|
Particular |
|
As
on 31.03.2011 |
|
RUPEE TERM LOANS
UNSECURED |
|
|
|
Rupee term loans banks unsecured |
|
594.830 |
|
Rupee term loans others unsecured |
|
267.900 |
|
|
|
|
|
Total |
|
862.730 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10296323 |
10/06/2011 |
350,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, Maharashtra - 400013, INDIA |
B16587347 |
|
2 |
10252208 |
12/10/2010 |
125,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, Maharashtra - 400013, INDIA |
B00251678 |
|
3 |
10227641 |
21/05/2010 |
225,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI, Maharashtra - 400013, INDIA |
A89219646 |
* Date of charge modification
FIXED ASSETS:
- Land
- Office equipments
- Computer
- Furniture and fittings
- Vehicles
- Factory building
- Plant and machinery
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.60.74 |
|
|
1 |
Rs.92.06 |
|
Euro |
1 |
Rs.80.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
RAJ / NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.