MIRA
INFORM REPORT
|
Report Date : |
13.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
USHA INTERNATIONAL LIMITED (w.e.f. 20.06.2008) |
|
|
|
|
Formerly Known
As : |
THE JAY ENGINEERING WORKS LIMITED |
|
|
|
|
Registered
Office : |
19, Kasturba Gandhi Marg, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
08.11.1935 |
|
|
|
|
Com. Reg. No.: |
55-007123 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 485.837
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74210DL1935PLC007123 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELU02431C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACU0032B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and
Marketing of Quality Ceiling Fans, Ventilating, Exhaust Fan, Pedestal and
Electric Wall Fans. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 8900000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of “Siddharth Shriram Group”. It is a well established and reputed company having a good track
record. There appears slight dip in the profitability during the year
2011-2012. However, general financial position of the company appears to be
strong. Performance capability is high. The company get’s general support from its group companies. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. Note: Balance sheet
for the year ended 2012 is not available only profit has for the year end
2012 is available. |
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 is non co-operative.
LOCATIONS
|
Registered Office : |
19, Kasturba Gandhi Marg, |
|
Tel. No.: |
91-11-23318114 |
|
Fax No.: |
91-11-23318118 / 23318119 |
|
E-Mail : |
manoj_agrawal@ushainternational.com
|
|
Website : |
|
|
|
|
|
Head Quarters |
Plot No.15, Institutional Area, Sector-32, Gurgaon-122001, Haryana,
India |
|
Tel. No.: |
91-124-4583100 |
|
Fax No.: |
91-124-4583200 / 2883300 |
|
Email : |
|
|
|
|
|
Regional Office : |
Balanagar Township, Hyderabad-500037, Andhra Pradesh, India |
|
Tel No.: |
91-40-23078900 |
|
|
Located at: · Ahmedabad · Bangalore · Chennai · Cuttack · Ernakulam · Ghaziabad · Guwahati · Indore · Jaipur · Jalandhar · Kolkata ·
Mumbai |
DIRECTORS
As on: 30.09.2012
|
Name : |
Mr. Siddharth Shriram |
|
Designation : |
Director |
|
Address : |
No. 3A, Chitrakoot The Green, Opp. Air Force Station, Rajokari, New
Delhi – 110038, Delhi, India |
|
Date of Birth/Age : |
18.01.1945 |
|
Date of Appointment : |
30.08.1996 |
|
DIN No.: |
00027750 |
|
|
|
|
Name : |
Mr. Krishna Shriram |
|
Designation : |
Whole Time Director |
|
Address : |
D 46, Malcha Marg, New Dlehi-110021, India |
|
Date of Birth/Age : |
03.06.1970 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
27.05.2011 |
|
DIN No.: |
00031783 |
|
|
|
|
Name : |
Ms. Chhaya Shriram |
|
Designation : |
Additional Director |
|
Address : |
D-46, Malcha Marg, New Delhi – 110021, Delhi, India |
|
Date of Birth/Age : |
18.02.1969 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
27.09.2008 |
|
DIN No.: |
00027813 |
|
|
|
|
Name : |
Mr. Nandan Kumar Goila |
|
Designation : |
Director |
|
Address : |
A-65/1, SFS Flats Saket, New Delhi – 110017, Delhi, India |
|
Date of Birth/Age : |
14.04.1947 |
|
Date of Appointment : |
30.08.1996 |
|
DIN No.: |
00025007 |
|
|
|
|
Name : |
Mr. Anil Kumar Jain |
|
Designation : |
Additional Director |
|
Address : |
C-2, Sector 20, Noida – 201301, Uttar Pradesh, India |
|
Date of Birth/Age : |
18.03.1951 |
|
Date of Appointment : |
29.09.2008 |
|
DIN No.: |
00027911 |
|
|
|
|
Name : |
Mr. Pramod Kumar Bhalla |
|
Designation : |
Director |
|
Address : |
House No. 3509, DLF Phase IV, Gurgaon – 122002, Haryana, India |
|
Date of Birth/Age : |
08.07.1952 |
|
Date of Appointment : |
30.10.2007 |
|
DIN No. : |
00035955 |
|
|
|
|
Name : |
Mr. Anand Kumar Chowdhury |
|
Designation : |
Additional Director |
|
Address : |
R-749, Ground Floor, New Rajendra Nagar, New Delhi – 110060, Delhi,
India |
|
Date of Birth/Age : |
04.04.1944 |
|
Date of Appointment : |
29.09.2008 |
|
DIN No. : |
00044601 |
|
|
|
|
Name : |
Mr. Vinod Kumar Wazir |
|
Designation : |
Additional Director |
|
Address : |
C-515, Defence Colony, New Delhi – 110024, Delhi, India |
|
Date of Birth/Age : |
07.07.1939 |
|
Date of Appointment : |
29.09.2008 |
|
DIN No. : |
01503448 |
|
|
|
|
Name : |
Mr. Raj Pandit |
|
Designation : |
Director |
|
Address : |
No.26, Cebars Close London, United Kingdom |
|
Date of Birth/Age : |
13.07.1951 |
|
Date of Appointment : |
26.09.2012 |
|
DIN No.: |
05310387 |
KEY EXECUTIVES
|
Name : |
Ms. Archana Maini |
|
Designation : |
Secretary |
|
Address : |
House No. 32A, Street No.10, New Mahavir Nagar, Near Janakpuri, Metro
Street, New Delhi-110018, India |
|
Date of Birth/Age : |
25.12.1974 |
|
Date of Appointment : |
02.07.2012 |
|
PAN No.: |
ANWPM1214F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
18366610 |
|
Enterprise Trust, India |
|
15032728 |
|
Zafira Trust, India |
|
203 |
|
Zafira Trust, India |
|
14575897 |
|
Chhaya Shriram |
|
607864 |
|
Siddharth Shriram |
|
117 |
|
Terrestrial Market Private Limited, India |
|
295 |
|
Pramod Kumar Bhalla |
|
001 |
|
|
|
|
|
Total |
|
48583715 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
39.05 |
|
Other top fifty shareholders |
|
60.95 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and
Marketing of Quality Ceiling Fans, Ventilating, Exhaust Fan, Pedestal and
Electric Wall Fans. |
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|
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|
Products : |
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||||||||
|
Exports : |
Not Divulged |
||||||||
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||||||||
|
Imports : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Customers : |
Not Divulged |
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|
||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Bankers : |
·
IDBI Bank Limited, Videocon Tower, 1st
Floor, E-1, Jhandewalan Extension, New Delhi-110055, India ·
Bank of Baroda, Corporate Financial Services
Branch, Bank of Baroda Building, Ground Floor, 16, Parliament Street, New Delhi
– 110001, Delhi, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Thakur Vaidyanath Aiyar and Company Chartered Accountants |
|
Address : |
221, 223, Deen Dayal Marg, |
|
PAN No.: |
AAAFT3096M |
|
|
|
|
Subsidiaries (As On 31.03.2011) : |
·
Avro Sales Private Limited ·
Mawana Sugars Limited ·
Siel Financial Services Limited ·
Transiel India Limited ·
Siel Edible Oils Limited ·
SFSL Investments Limited ·
Siel Industries Estate Limited |
|
|
|
|
Enterprise over which
one of the Key Management Personnel is able to exercise significant
influence: |
· V.V. Servotech Private Limited |
CAPITAL STRUCTURE
As on: 30.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
Rs.10/- each |
Rs. 1000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
48583715 |
Equity Shares |
Rs.10/- each |
Rs. 485.837
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
485.837 |
485.837 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
1750.302 |
1462.186 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
2236.139 |
1948.023 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
2357.719 |
77.547 |
|
|
2] Unsecured Loans |
|
95.024 |
90.351 |
|
|
TOTAL BORROWING |
|
2452.743 |
167.898 |
|
|
DEFERRED TAX LIABILITIES |
|
14.967 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
4703.849 |
2115.921 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1495.071 |
566.799 |
|
|
Capital work-in-progress |
|
755.519 |
9.379 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
1448.687 |
1457.615 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
3.765 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
2251.825 |
1127.780
|
|
|
Sundry Debtors |
|
1090.008 |
847.602
|
|
|
Cash & Bank Balances |
|
500.155 |
380.763
|
|
|
Other Current Assets |
|
1.084 |
0.848
|
|
|
Loans & Advances |
|
297.267 |
145.818
|
|
Total
Current Assets |
|
4140.339 |
2502.811 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
2342.089 |
2116.304
|
|
|
Other Current Liabilities |
|
671.565 |
236.210
|
|
|
Provisions |
|
122.113 |
71.934
|
|
Total
Current Liabilities |
|
3135.767 |
2424.448 |
|
|
Net Current Assets |
|
1004.572 |
78.363
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
4703.849 |
2115.921 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
15604.200 |
12980.816 |
10063.367 |
|
|
|
Agency Commission |
0.000 |
0.000 |
19.545 |
|
|
|
Other Income |
166.770 |
120.987 |
156.162 |
|
|
|
TOTAL (A) |
15770.970 |
13101.803 |
10239.074 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
876.580 |
927.346 |
|
|
|
|
Purchases of stock-in-trade |
9483.410 |
8867.666 |
|
|
|
|
Employee benefit expense |
1039.013 |
846.831 |
|
|
|
|
Other expenses |
3617.384 |
2885.886 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(153.587) |
(1171.501) |
|
|
|
|
TOTAL (B) |
14862.800 |
12356.228 |
9650.081 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
908.170 |
745.575 |
588.993 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
406.097 |
100.758 |
20.069 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
502.073 |
644.817 |
568.924 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
257.936 |
104.538 |
65.253 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
244.137 |
540.279 |
503.671 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
74.979 |
163.042 |
177.155 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
169.158 |
377.237 |
326.516 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.00 |
7.76 |
6.72 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.07
|
2.88 |
3.19 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.56
|
4.16 |
5.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
9.59 |
16.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.24 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
NA
|
1.10 |
0.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
1.32 |
1.03 |
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 |
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 |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
(Rs. In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
|
Fixed deposits unsecured |
1.122 |
11.821 |
|
Other debt unsecured |
93.669 |
78.262 |
|
Interest accrued
due unsecured loans |
|
0 |
|
Interest accrued due unsecured loans |
0.233 |
0.268 |
|
|
|
|
|
TOTAL |
95.024 |
90.351 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10308512 |
01/09/2011 |
250,000,000.00 |
Bank of Baroda |
Corporate Financial Services (Large Corporate) Br., Ground
Floor, 16, Parliament Street, New Delhi |
B21697131 |
|
2 |
10279378 |
29/11/2012 * |
1,000,000,000.00 |
IDBI BANK LTD |
VIDEOCON TOWER, 1ST FLOOR, E - 1, JHANDEWALAN EXTENSION, NEW DELHI, Delhi - 110055, INDIA |
B64814643 |
|
3 |
10278304 |
17/03/2011 |
400,000,000.00 |
TATA CAPITAL LIMITED |
ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, Maharashtra - 400001, INDIA |
B09926643 |
|
4 |
10273113 |
10/02/2011 |
560,000,000.00 |
Bank of Baroda |
Corporate Financial Services (Large Corporate) Br., Bank
of Baroda Building, 16, Parliament Street, |
B08478190 |
|
5 |
10231870 |
07/07/2010 |
100,000,000.00 |
Bank of Baroda |
Corporate Financial Services (Large Corporate) Br., Ground
Floor, 16, Parliament Street,, New Delhi |
A90607490 |
|
6 |
10199772 |
23/01/2010 |
250,000,000.00 |
Small Industries Development Bank of India |
Ground Floor, Videocon Tower, E-1, Rani Jhansi Road,
Jhandewalan Extension,, New Delhi, Delhi - 110 |
A77672400 |
|
7 |
90051388 |
28/09/2006 * |
30,000,000.00 |
PUNJAB NATIONAL BANK |
CMO, BANK STREET, ABIDS, HYDERABAD, Andhra Pradesh - 500001, INDIA |
- |
|
8 |
90042721 |
21/02/2013 * |
2,850,000,000.00 |
Bank of Baroda |
Corporate Financial Services (Large Corporate) Br., Ground
Floor, 16, Parliament Street,, New Delhi |
B70779541 |
|
9 |
90042717 |
15/03/2000 |
25,000,000.00 |
BANK OF BARODA |
CORPORATE BANKING BRANCH, 16; PARLIAMENT STREET, |
- |
|
10 |
80034967 |
23/04/2011 * |
650,000,000.00 |
Small Industries Development Bank of India |
Ground Floor, Videocon Tower, E-1, Rani Jhansi Road,
Jhandewalan Extension,, New Delhi, Delhi - 110 |
B11487394 |
FIXED ASSETS
·
Goodwill
·
Land – Free Hold
·
Building – Free Hold and
Lease Hold
·
Plant and Machinery
·
EDP Equipment
·
Sewing School Appliances
·
Furniture, Fixture and
Equipment
·
Improvement on Leased
Premises
·
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 records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proeeding 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. 94.21 |
|
Euro |
1 |
Rs. 81.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
54 |
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.