|
Report Date : |
24.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
STUMPP SCHUELE AND SOMAPPA SPRINGS PRIVATE LIMITED (w.e.f 06.12.2007) |
|
|
|
|
Formerly Known
As : |
ALLEVARD SPRINGS (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
139/2, Hosur Road, Koramangala, Bangalore – 560095, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.08.1996 |
|
|
|
|
Com. Reg. No.: |
08-038742 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.30.100
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299KA1996PTC038742 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS28339D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AALCS7347E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of Stabilizer Bars and all Varieties of
Springs, all type of Automobile Components, Spare Parts and Accessories etc. |
|
|
|
|
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 |
|
Maximum Credit Limit : |
USD 1600000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Stumpp Schuele and Somappa Private limited”.
It is an established company having a moderate track record. The profit of the company has dipped drastically during 2013. Profit
margin of the company also appears to be low. However, trade relations are reported as 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) |
|
|
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
Uptick in
agriculture and construction spread some cheer as the economy grew a higher-than-expected
4.8 % in the three months through September. Manufacturing rose an annual rate
per cent during the quarter and mining fell by 0.4 %, government data showed
while farm output rose 46%.
India has emerged as
the most attractive investment destination, thanks to a relaxation in foreign
direct investment norms, says a report. India is followed by Brazil and China
in the ranking part of EY’s Capital Confidence Barometer report based on a
survey across 70 nations. The US, France and Japan have emerged as the top
three investors likely to invest in India.
India has been
ranked 83rd globally in terms of talent competitiveness of its human
capital. Switzerland, Singapore, Denmark, Sweden and Luxembourg are the
top five in the list of 103 nations compiled by INSEAD business school.
Tax rates for
companies in India are among the highest in the world and the number of
payments is also more than the global average putting the country at low, 158th
rank on the Paying Taxes. 2014 list by the World Bank and PWC. However, the
time taken for tax payments is relatively less in India which is rated ahead of
China and Japan.
1 billion smartphone
shipments in 2013, a 39.3 % growth over 2012. This was being driven by low cost
computing in emerging markets. By 2017, total smartphone shipments are expected
to approach 1.7 billion units, resulting in a compound annual growth rate of
18.4 % between 2013 and 2017, according to research from IDC.
20 % vacancy rate of
office space in Mumbai and Delhi in the third quarter, the highest in Asia
after Chengdu, in China. According to Cushman and Wakefield, six Indian cities
are among the 10 office markets with the worst vacancies.
Foreign banks will
not have to pay stamp duty and capital gains tax, if they convert their branch
operations into a wholly owned subsidiary, according to the Reserve Bank of
India.
The Reserve Bank of
India is planning to launch CPI – indexed bonds aimed to protecting the savings
of retail investors from the impact the price rise by December end.
Central Bureau of
Investigation has booked State Bank of India, Deputy Managing Director Shyamal
Acharya and others in a graft case related to distribution of a loan of over
Rs.4000 mn. Gold and jewellery worth Rs.6.7 mn have been recovered from
the residence of Acharya.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term fund based facilities: BBB- |
|
Rating Explanation |
Have moderate degree of safety and carry moderate
credit risk. |
|
Date |
November, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term non fund based facilities: A3 |
|
Rating Explanation |
Moderate degree of safety and carry higher
credit risk. |
|
Date |
November, 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 Office : |
139/2, |
|
Tel. No.: |
91 80 25532335 (8 lines) / 40707400 / 25532858 |
|
Fax No.: |
91 80 25530622 /
25532379 |
|
E-Mail : |
ravi@ssssprings.com
(International Sales – Ravi Machani) amarbabu@ssssprings.com (Domestic
Sales – Amar Babu) |
|
Website : |
|
|
|
|
|
Sales Office : |
PO Box 275, New |
|
Tel. No.: |
+1 (248) 4123367 |
|
Fax No.: |
+1 (248) 2645000 |
|
E-Mail : |
|
|
|
|
|
Regional Offices : |
Located at : Pune : 91-20-5898956 / 656 Chennai : 91-4426810028 / 0727 Kolkata : 91-33-4222265 Tel. No. : 91 124 2210821/820 |
DIRECTORS
(AS ON 30.09.2013)
|
Name : |
Mr. Ramanna Gangadhar Machani |
|
Designation : |
Director |
|
Address : |
M. G. Brothers Automobiles Private Limited, Dargamitta, |
|
Date of Birth/Age : |
18.09.1958 |
|
Date of Appointment : |
04.06.2009 |
|
DIN No.: |
00267779 |
|
|
|
|
Name : |
Mr. Ramesh Ramanna Machani |
|
Designation : |
Whole-time Director |
|
Address : |
No.456, Kothanur Cross, |
|
Date of Birth/Age : |
15.03.1946 |
|
Date of Appointment : |
12.08.1996 |
|
DIN No.: |
00319941 |
|
PAN No.: |
AAXPR8906K |
|
|
|
|
Name : |
Mr. Satish Ramesh Machani |
|
Designation : |
Managing Director |
|
Address : |
No.456, Kothanur Cross, |
|
Date of Birth/Age : |
01.10.1971 |
|
Date of Appointment : |
04.06.2009 |
|
DIN No.: |
00320532 |
|
PAN No.: |
AEOPS9018L |
|
|
|
|
Name : |
Mr. |
|
Designation : |
Whole-time Director |
|
Address : |
No.456, Kothanur Cross, |
|
Date of Birth/Age : |
08.08.1973 |
|
Date of Appointment : |
04.06.2009 |
|
DIN No.: |
00320603 |
|
PAN No.: |
ABEPR3804I |
|
|
|
|
Name : |
|
|
Designation : |
Director |
|
Address : |
7C, Sukhi Apartments, |
|
Date of Birth/Age : |
28.05.1945 |
|
Date of Appointment : |
12.08.1996 |
|
DIN No.: |
00471801 |
|
PAN No.: |
AJXPS7902B |
|
|
|
|
Name : |
Mr. Machani Ramanna Ganganna |
|
Designation : |
Director |
|
Address : |
1/1400, HSB Colony, Yemmiganur, 518360, |
|
Date of Birth/Age : |
03.02.1944 |
|
Date of Appointment : |
04.06.2009 |
|
DIN : |
02063513 |
|
|
|
|
Name : |
Mrs. Deepa Anil Kumar |
|
Designation : |
Director |
|
Address : |
No.456, Kothanur Cross, |
|
Date of Birth/Age : |
03.03.1976 |
|
Date of Appointment : |
06.09.2010 |
|
DIN : |
02741980 |
|
PAN No.: |
ABGPS2479R |
|
|
|
|
Name : |
Mr. Sudhakar Machani |
|
Designation : |
Additional Director |
|
Address : |
No 404, 5th Cross, RBI Layout, 7th Phase, J P Nagar, Bangalore
- 560078, Karnataka, India |
|
Date of Birth/Age : |
05.08.1956 |
|
Date of Appointment : |
05.12.2012 |
|
DIN : |
02534695 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2013)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Stumpp Schuele and Somappa Springs Private Limited, India |
|
3009990 |
|
M R Ramesh |
|
10 |
|
|
|
|
|
Total |
|
3010000 |
(AS ON 30.09.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
99.90 |
|
Directors or relatives of directors |
|
0.10 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Stabilizer Bars and all Varieties of Springs,
all type of Automobile Components, Spare Parts and Accessories etc. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of Travancore Residency Road Branch, Aishwarya Castle, #10, Castle Street, Near
Brigade Towers, Ashok Nagar, Bangalore – 560025, Karnataka, India · State Bank of Hyderabad Industrial Finance Branch, Sheriff House, Industrial Finance Branch,
Sheriff House, Bangalore - 560025, Karnataka, India ·
State Bank of Industrial Finance Branch, Residency Plaza, Residency Road, Bangalore
– 560025, Karnataka, India ·
Indusind Bank Limited Du Parc Trinity, West Wing, I Floor, No.17, M G Road,
Bangalore – 560001, Karnataka, India |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Brahmayya and Company Chartered Accountants |
|
Address : |
|
|
PAN No.: |
AAASB9147R |
|
|
|
|
Holding
Company : |
· Stumpp Schuele and Somappa Private Limited |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
· MG Metallic Springs Private Limited · MGM Springs Private Limited · Machani Infra Development Corporation Private Limited · Nippon Electronics (NEL) Private Limited · SSS Springs an D Wire · Indivillage Tech Solutions Private Limited |
CAPITAL STRUCTURE
(AS ON 30.09.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs.75.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3010000 |
Equity Shares |
Rs.10/- each |
Rs.30.100
Million |
|
|
|
|
|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
30.100 |
30.100 |
30.100 |
|
(b) Reserves & Surplus |
362.777 |
345.492 |
313.837 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1)+(2) |
392.877 |
375.592 |
343.937 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
165.663 |
135.741 |
86.878 |
|
(b) Deferred tax liabilities (Net) |
7.658 |
9.297 |
12.705 |
|
(c) Other long
term liabilities |
2.024 |
2.124 |
17.514 |
|
(d) long-term
provisions |
31.743 |
25.039 |
20.484 |
|
Total Non-current
Liabilities (3) |
207.088 |
172.201 |
137.581 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
668.407 |
866.611 |
823.896 |
|
(b)
Trade payables |
471.575 |
481.999 |
322.058 |
|
(c)
Other current liabilities |
153.917 |
178.195 |
130.660 |
|
(d) Short-term
provisions |
8.036 |
7.332 |
22.825 |
|
Total Current
Liabilities (4) |
1301.935 |
1534.137 |
1299.439 |
|
|
|
|
|
|
TOTAL |
1901.900 |
2081.930 |
1780.957 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
595.540 |
585.378 |
466.816 |
|
(ii)
Intangible Assets |
1.631 |
1.112 |
1.854 |
|
(iii)
Capital work-in-progress |
29.918 |
30.593 |
12.464 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.100 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
144.429 |
290.063 |
270.706 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
771.618 |
907.146 |
751.840 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
427.128 |
460.955 |
374.145 |
|
(c)
Trade receivables |
601.909 |
588.444 |
513.288 |
|
(d) Cash
and cash equivalents |
56.025 |
66.300 |
83.958 |
|
(e)
Short-term loans and advances |
45.220 |
59.085 |
57.726 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1130.282 |
1174.784 |
1029.117 |
|
|
|
|
|
|
TOTAL |
1901.900 |
2081.930 |
1780.957 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2843.844 |
2779.796 |
2491.293 |
|
|
|
Other Income |
15.626 |
8.983 |
6.462 |
|
|
|
TOTAL (A) |
2859.470 |
2788.779 |
2497.755 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials consumed |
1685.057 |
1602.970 |
1393.500 |
|
|
|
Change In inventories |
(3.015) |
(30.684) |
(22.052) |
|
|
|
Employee benefit expenses |
371.022 |
356.786 |
305.139 |
|
|
|
Other expenses |
543.275 |
552.372 |
484.842 |
|
|
|
TOTAL (B) |
2596.339 |
2481.444 |
2161.429 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
263.131 |
307.335 |
336.326 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
136.476 |
150.050 |
106.118 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
126.655 |
157.285 |
230.208 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
108.367 |
128.550 |
106.931 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
18.288 |
28.735 |
123.277 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export on FOB Basis |
48.077 |
38.002 |
26.154 |
|
|
TOTAL EARNINGS |
48.077 |
38.002 |
26.154 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
CIF Value of Imports |
648.408 |
662.638 |
NA |
|
|
TOTAL IMPORTS |
648.408 |
662.638 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
0.64
|
1.03 |
4.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.98
|
1.40 |
6.97 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.08 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.12
|
2.67 |
2.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.87
|
0.77 |
0.79 |
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 |
PERFORMANCE AND
FUTURE OUTLOOK:
During the year the Company recorded a turnover of Rs.2859.469 Millions as against Rs.2788.779 Millions in 2011-2012. Profit for the years is Rs.18.288 Millions.
COMPANY OVERVIEW
Subject is
(originally incorporated on 12-08-1996 as Allevard Springs(India) Private
Limited) to carry on the business of manufacturers and supply of Stabilizer
bars and all varieties of Springs, all type of automobile components, spare
parts and accessories etc.
During the
Financial Year 2009-10 the Company entered into a Business Transfer Agreement
with Stumpp, Schuele and Somappa Private Limited, the parent company, to purchase
its Springs Division with effect from 1st Aug 2009.
The Company has
commenced the generation of windmill energy, 600 KW on 22nd September 2010 and
1.2 MW on 30th September, 2011. The objective of this project is to generate
the power for captive consumption.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10319786 |
08/11/2011 |
80,000,000.00 |
STATE BNAK OF
HYDERABAD |
INDUSTRIAL
FINANCE BRANCH, SHERIFF HOUSE,, INDUST |
B26095133 |
|
2 |
10314219 |
31/12/2010 |
200,000,000.00 |
STATE BANK OF
TRAVANCORE |
RESIDENCY ROAD BRANCH,
AISHWARYA CASTLE, # 10,, C |
B14239719 |
|
3 |
10246298 |
24/03/2011 * |
340,000,000.00 |
STATE BANK OF
HYDERABAD |
INDUSTRIAL
FINANCE BRANCH, "SHERIFF HOUSE", 1ST FLOOR, 85, RICHMOND ROAD,
BANGALORE, KARNATAKA - 560025, INDIA |
B11880358 |
|
4 |
10233602 |
20/06/2011 * |
875,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, RESIDENCY PLAZA, RESID |
B17256165 |
|
5 |
10208143 |
26/02/2010 |
190,000,000.00 |
INDUSIND BANK
LIMITED |
DU PARC TRINITY,
WEST WING, I FLOOR, NO. 17, M G ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
A81584559 |
* Date of charge modification
FIXED ASSETS:
· Plant and Machinery
· Computers
· Electrical Installations
· Furniture and Fixture
· Vehicles
·
Know-how
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.62.24 |
|
|
1 |
Rs.101.81 |
|
Euro |
1 |
Rs.84.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--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.