|
Report Date : |
05.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
SIDDHI CERACOLOURS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No.777,
Near GSPC Gas Terminal, Village Ghuntu, Lakhdhirpur Road, Morbi – 363 642,
Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
08.01.2007 |
|
|
|
|
Com. Reg. No.: |
04-049724 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.5.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24119GJ2007PTC049724 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Ceramic Colours. |
|
|
|
|
No. of Employees
: |
Information declined by the Management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 56000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having a satisfactory track record. Trade relations are
reported to be fair. Business is active. Payments are reported to be usually
correct and as per commitments. The company can
be considered for normal 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
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 DECLINED BY
|
Name : |
Mr. Venkatrao |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9848529753 |
|
Date : |
05.08.2013 |
LOCATIONS
|
Registered Office : |
Survey No.777, Near
GSPC Gas Terminal, Village Ghuntu, Lakhdhirpur Road, Morbi – 363 642,
Gujarat, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9848029708 (Mr. Ramachandra) 91-9848529753 (Mr. Venkatrao) |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Darooru Raghava Chary |
|
Designation : |
Director |
|
Address : |
7 (3RT), Prakash Nagar, Begumpet, Hyderabad – 500 016, Andhra Pradesh,
India |
|
Date of Birth/Age : |
25.08.1968 |
|
Date of Appointment : |
08.01.2007 |
|
DIN No.: |
01127533 |
|
|
|
|
Name : |
Venkata Ramachandra Rao Davuluri |
|
Designation : |
Director |
|
Address : |
H.No.274B, Bloc-15, Janpriya Apartments, Miyapur, Hyderabad – 500 033,
Andhra Pradesh, India |
|
Date of Birth/Age : |
26.12.1952 |
|
Date of Appointment : |
08.01.2007 |
|
DIN No.: |
01127609 |
|
|
|
|
Name : |
Suman Kumar |
|
Designation : |
Additional Director |
|
Address : |
1275 Road, 63A, Jubilee Hills, Hyderabad – 500 033, Andhra Pradesh,
India |
|
Date of Birth/Age : |
28.07.1948 |
|
Date of Appointment : |
31.07.2009 |
|
DIN No.: |
00580302 |
|
|
|
|
Name : |
Jayant Kumar |
|
Designation : |
Managing Director |
|
Address : |
Flat # 1150, Road # 71, Phase-II, Jubilee Hills, Hyderabad – 500 033,
Andhra Pradesh, India |
|
Date of Birth/Age : |
30.07.1945 |
|
Date of Appointment : |
31.07.2009 |
|
DIN No.: |
00580260 |
KEY EXECUTIVES
|
Name : |
Mr. Venkatrao |
|
Designation : |
Accounts Manager |
|
|
|
|
Name : |
H.S. Mehta and Associates |
|
Designation : |
Company Secretaries |
|
Address : |
31, Raj Tower, Satadhar Char Rasta, Sola Road, Ahmedabad – 380 061, Gujarat,
India |
|
Tel. No.: |
91-79-27413573 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Kapil Kumar |
|
100 |
|
Sukaso Ceracolours Private Limited |
|
499900 |
|
Total
|
|
500000 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
99.99 |
|
Directors
or relatives of directors |
|
0.01 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Ceramic Colours. |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Ceramics
Colour 2010-2011 |
|
Licensed
Capacity |
NA |
|
Installed
Capacity (Being technical matter capacity as reported by the Directors of the
Company) |
1200 (MTPA) |
|
Actual
Production |
|
|
Finished Goods |
273.684 Mts. |
GENERAL INFORMATION
|
Suppliers : |
·
Keval Infotech ·
Surjit Roadlines ·
B.R. Steel Products Private Limited ·
Gem Oxides Private Limited ·
Ghanshyam Toys ·
GSPC Gas Company Limited ·
Hemson Plastic Industries Limited ·
Jagdish Chemicals ·
Sukaso Ceracolours
Private Limited ·
Vishnu Chemicals
Limited ·
Pooja Grinding
Industries ·
Oswal Marketing |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
·
Akik Tiles Private Limited ·
Aristo Cera Chem ·
Aron Impex ·
Bhavya Sai Impex ·
Century Tiles Private Limited ·
Crystal Ceramic India Private Limited ·
Fea Ceramic Private Limited ·
Gladder Ceramics Private Limited ·
Kedia Chemical ·
Lexus Ceramic Private Limited ·
Nilkanth Traders ·
Premier Industries ·
Regent Granito Private Limited ·
Vidhi Cera Impex ·
Victory Ceratech Private Limited |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
Information declined by the Management |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
Axis Bank Limited, Credit Management Centre,
5-2-183/184, IIIrd Floor, R RP Road, Secunderabad – 500 003, Andhra Pradesh,
India ·
Axis Bank Limited, Corporate Banking Branch,
Pullareddy Buildings, 1st Floor, Greenlands, Begumpet, Hyderabad –
500 016, Andhra Pradesh, India ·
Kotak Mahindra Bank Limited, 36-38A, Nariman
Bhavan, 227, D, Nariman Point, Mumbai – 400 021, Maharashtra, India ·
State Bank of India, Bhavani Chambers, Savsar
Plot Main Road, Morbi – 363 641, Gujarat, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Nanalal P. Hadial Chartered Accountant |
|
Address : |
Shakti Complex, 1st Floor, Near Dr. Rupala Hospital,
16-Savsar Plot, Morbi – 363 641, Gujarat, India |
|
PAN No.: |
AAHPH2014C |
|
|
|
|
Holding Company : |
Sukaso Ceracolours Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
|
|
|
|
|
(Out of which 499900 Equity Shares are held by Sukaso Ceracolours Private
Limited from dated 31.07.2009, the Holding Company)
Reconciliation
of the shares outstanding at the beginning and at the end of the reporting
period:
|
Particulars |
No. of Shares |
|
Shares
outstanding at the beginning of the year |
500000 |
|
Shares
Issued during the year |
0 |
|
Shares
bought back during the year |
0 |
|
Shares outstanding at the end of the year |
500000 |
No. of shares held each shareholder holding more than 5% of shares as at
reporting date:
|
Particulars |
No. of Shares |
|
Sukaso Ceracolours Private Limited |
499900 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
5.000 |
5.000 |
|
(b) Reserves & Surplus |
|
8.973 |
5.428 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
13.973 |
10.428 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
1.588 |
6.841 |
|
(b) Deferred tax liabilities (Net) |
|
0.091 |
0.098 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) Long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
1.679 |
6.939 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
11.955 |
13.953 |
|
(b)
Trade payables |
|
77.922 |
37.451 |
|
(c)
Other current liabilities |
|
4.235 |
4.096 |
|
(d) Short-term
provisions |
|
1.741 |
1.489 |
|
Total Current
Liabilities (4) |
|
95.853 |
56.989 |
|
|
|
|
|
|
TOTAL |
|
111.505 |
74.356 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
5.259 |
5.839 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
0.082 |
0.073 |
|
Total Non-Current
Assets |
|
5.341 |
5.912 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
63.139 |
37.428 |
|
(c)
Trade receivables |
|
37.263 |
27.047 |
|
(d) Cash
and cash equivalents |
|
0.175 |
0.797 |
|
(e)
Short-term loans and advances |
|
0.125 |
0.132 |
|
(f)
Other current assets |
|
5.462 |
3.040 |
|
Total
Current Assets |
|
106.164 |
68.444 |
|
|
|
|
|
|
TOTAL |
|
111.505 |
74.356 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
5.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
2.309 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
7.309 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.315 |
|
|
2] Unsecured Loans |
|
|
1.559 |
|
|
TOTAL BORROWING |
|
|
1.874 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.113 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
9.296 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
6.333 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
11.133 |
|
|
Sundry Debtors |
|
|
8.347 |
|
|
Cash & Bank Balances |
|
|
0.034 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
1.101 |
|
Total
Current Assets |
|
|
20.615 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
16.715 |
|
|
Other Current Liabilities |
|
|
0.172 |
|
|
Provisions |
|
|
0.770 |
|
Total
Current Liabilities |
|
|
17.657 |
|
|
Net Current Assets |
|
|
2.958 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.005 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
9.296 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
TOTAL INCOME |
97.496 |
84.214 |
38.267 |
|
|
|
|
|
|
|
|
DEPRECIATION |
0.601 |
0.669 |
0.743 |
|
|
|
|
|
|
|
|
EXCESS PROVISION
OF TAX |
0.070 |
-- |
-- |
|
|
|
|
|
|
|
|
CURRENT TAX |
1.623 |
1.432 |
0.770 |
|
|
|
|
|
|
|
|
NET PROFIT /
(LOSS) |
3.544 |
3.119 |
2.448 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.97
|
1.99 |
0.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.11
|
1.20 |
1.17 |
LOCAL AGENCY FURTHER INFORMATION
Details of Current Maturities of Long Term
Debts: Not Available
|
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 |
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 |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
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 |
|
Unsecured Loan |
As
on 31.03.2012 (Rs.
in Millions) |
As
on 31.03.2011 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and
advances from Related Parties: |
|
|
|
From Others (Unsecured loans from directors and shareholders are repayable on
demand and without any interest obligation in general unless written request received
from depositor in that respect before the end of financial year. Besides, the
managerial also believes these deposits are not required to be repaid in the
next 12 months accordingly the same has been classified as long-term
borrowings.) |
0.000 |
1.559 |
|
Total
|
0.000 |
1.559 |
Note:
The registered office of the company has been shifted from Near Mahendrasinji Hospital, Traj Par Road, Morbi – 363 642, Gujarat to the present address w.e.f. 25.03.2008.
FINANCIAL RESULTS:
The Company has earned net profit of Rs.3.544
millions on a total income of Rs.97.496 millions during the year as compared to
net profit of Rs.3.119 millions on a total income of Rs.84.214 millions during
the previous year. With a view to conserve reserves, the Directors do not
recommend any dividend.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U24119GJ2007PTC049724 |
|
Name of the
company |
SIDDHI CERACOLOURS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Survey No.777,
Near GSPC Gas Terminal, Village Ghuntu, Lakhdhirpur Road, Morbi – 363 642,
Gujarat, India E-Mail: siddhicercolours@yahoo.co.in |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10286697 |
|
Type of charge |
Immovable
Property Book Debts Movable Property
(not being pledge) |
|
Particular of
charge holder |
Axis Bank
Limited, Corporate Banking Branch, Pullareddy Buildings, 1st
Floor, Greenlands, Begumpet, Hyderabad – 500 016, Andhra Pradesh, India E-Mail: bl.sailaja@axisbank.com |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
Entry. Deed of
Guarantee. |
|
Date of
instrument Creating the charge |
11.04.2012 |
|
Amount secured by
the charge |
Rs.431.989 millions
|
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest: No Change in
existing terms and Conditions. Corporate Guarantee Extended by the company to
the limits availed by Sukaso Ceracolors Private Limited. Terms of
Repayment: No Change in
existing terms and Conditions. Corporate Guarantee Extended by the company to
the limits availed by Sukaso Ceracolors Private Limited. Margin: No Change in
existing terms and Conditions. Corporate Guarantee Extended by the company to
the limits availed by Sukaso Ceracolors Private Limited. Extent and
Operation of the charge: Corporate
Guarantee Extended by the company to the limits availed by Sukaso Ceracolors Private
Limited. No Change in existing terms and Conditions. The Limits are further
secured by additional Immovable Properties. |
|
Particulars of
the present modification |
Corporate
Guarantee Extended by the company to the limits availed by Sukaso Ceracolors
Private Limited to the extent of Rs.431.989 millions and Limits are further
secured by Equitable Mortgage of Additional immovable properties as detailed
in Memorandum of Entry Agreement. |
FIXED ASSETS:
·
Land
·
Factory Building
·
Plant and Machinery
·
D.G. Set
·
Electrification
·
Furniture
·
Gas Connection
·
Air Conditioner
·
Telephone
·
Motor Cycle
·
Mobile
·
Air Cooler
·
Computers
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.60.80 |
|
|
1 |
Rs.91.95 |
|
Euro |
1 |
Rs.80.36 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.