MIRA
INFORM REPORT
|
Report Date : |
30.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
ASHTECH INFOTECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
G-5/7, Laxmi Woollen Mills Estate, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
05.11.1993 |
|
|
|
|
Com. Reg. No.: |
11-074939 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.8.200 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U30007MH1993PTC074939 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA20781F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA3546N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of IT Products. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
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 373000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The management has failed to file its financial with government
department for the year 2013. As per available financial of 2012, there appears drastic dip in
profit of the company. However, trade relations are fair. Business is active. Payment terms
are 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.
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 |
CRISIL |
|
Rating |
Long term rating BB+ |
|
Rating Explanation |
Moderate risk of default and high credit
risk. |
|
Date |
July 08, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
July 08, 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.
INFORMATION PARTED BY
|
Name : |
Mr. Ramesh Dave |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-43454345 |
|
Date : |
26.12.2013 |
LOCATIONS
|
Registered Office / Head Office : |
G-5/7, Laxmi Woolen Mills Estate, Shakti Mill Lane, Near Mahalaxmi Station,
Mahalaxmi, Mumbai - 400011, Maharashtra, India |
|
Tel. No.: |
91-22-43454345/24963311 |
|
Fax No.: |
91-22-24963300 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000Sq.ft. |
|
Location : |
Owned |
|
|
|
|
Branches : |
Located At: ·
Ahmedabad ·
·
Chennai ·
·
Pune ·
|
|
|
|
|
Ware House: |
Bhawandi, |
|
Area : |
1000 Sq Ft |
|
Location : |
Rented |
DIRECTORS
As on 20.09.2013
|
Name : |
Mr. Surin Devendra Shah |
|
Designation : |
Chairman Cum Managing Directors |
|
Address : |
15, Avillion, 4th Floor, Little |
|
Date of Birth/Age : |
11.12.1958 |
|
Date of Appointment : |
05.11.1993 |
|
DIN No.: |
00677051 |
|
|
|
|
Name : |
Mr. Shreyas Narendra Shah |
|
Designation : |
Whole Time Director |
|
Address : |
7, Pavlova, Little |
|
Date of Birth/Age : |
24.01.1948 |
|
Date of Appointment : |
01.07.2001 |
|
DIN No.: |
00677664 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 20.09.2013
|
Names of Shareholders |
No. of Shares |
|
Surin Devendra Shah |
164900 |
|
Shreyas Narendra Shah |
58900 |
|
Surin Devendra Shah (HUF) |
13900 |
|
Shreyas Narendra Shah (HUF) |
6700 |
|
Kalpana Shreyas Shah |
109900 |
|
Devendra Ramanlal Shah (HUF) |
114800 |
|
Zarna Saurin Shah |
207900 |
|
Devendra Ramanlal Shah |
61400 |
|
Shilpa Devendra Shah |
100 |
|
Suchita Devendra Shah |
100 |
|
Sonali Devendra Shah |
100 |
|
Narendra Ramanlal Shah |
100 |
|
Narendra Ramanlal Shah (HUF) |
100 |
|
Virbala Narendra Shah |
100 |
|
Rajul Asit Shah |
100 |
|
Rajendra Ramanlal Shroff (HUF) |
100 |
|
Sohil Shreyas Shah |
300 |
|
Aashini Saurin Shah |
40100 |
|
Aesha Saurin Shah |
40100 |
|
Sohil Shreyas Shah |
200 |
|
Anupa Sohil Shah |
100 |
|
|
|
|
Total |
820000 |
As on 20.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of IT Products. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users and OEM’s |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
250 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
·
State Bank of India, Industrial Finance Branch,
Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra,
India ·
ICICI Bank Limited ·
HDFC Bank Limited, Worli, Mumbai, Maharashtra,
India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chandrakant and Sevantilal Chartered Accountants |
|
Address : |
4, Fairy Manor, 2nd Floor, 13, R. Sidhwa Marg, |
|
Tel. No.: |
91-22-22660673/ 22661754/ 22662959 |
|
Fax No.: |
91-22-22662744 |
|
PAN No.: |
AAAFC0278Q |
|
|
|
|
Subsidiaries : |
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1450000 |
Equity Shares |
Rs.10/- each |
Rs.14.500 Millions |
|
50000 |
Preference Shares |
Rs.10/- each |
Rs.0.500 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.15.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
820000 |
Equity Shares |
Rs.10/- each |
Rs.8.200 Millions |
|
|
|
|
|
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 |
|
8.200 |
8.200 |
|
(b) Reserves & Surplus |
|
85.176 |
76.852 |
|
(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) |
|
93.376 |
85.052 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
31.442 |
26.040 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
3.246 |
5.917 |
|
(d) long-term provisions |
|
0.591 |
0.684 |
|
Total Non-current Liabilities (3) |
|
35.279 |
32.641 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
18.372 |
19.463 |
|
(b)
Trade payables |
|
50.785 |
41.842 |
|
(c)
Other current liabilities |
|
31.113 |
19.896 |
|
(d) Short-term
provisions |
|
0.899 |
0.640 |
|
Total Current Liabilities (4) |
|
101.169 |
81.841 |
|
|
|
|
|
|
TOTAL |
|
229.824 |
199.534 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
14.664 |
5.577 |
|
(ii)
Intangible Assets |
|
0.175 |
0.292 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
6.554 |
6.310 |
|
(c) Deferred tax assets (net) |
|
0.983 |
0.604 |
|
(d) Long-term Loan and Advances |
|
67.042 |
28.885 |
|
(e) Other
Non-current assets |
|
0.660 |
0.564 |
|
Total Non-Current Assets |
|
90.078 |
42.232 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
28.402 |
33.672 |
|
(c)
Trade receivables |
|
88.946 |
82.223 |
|
(d) Cash
and cash equivalents |
|
11.805 |
7.620 |
|
(e)
Short-term loans and advances |
|
10.448 |
33.549 |
|
(f)
Other current assets |
|
0.145 |
0.238 |
|
Total Current Assets |
|
139.746 |
157.302 |
|
|
|
|
|
|
TOTAL |
|
229.824 |
199.534 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
8.200 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
68.707 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
76.907 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.034 |
|
|
2] Unsecured Loans |
|
|
24.925 |
|
|
TOTAL BORROWING |
|
|
24.959 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
101.866 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
7.482 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
4.138 |
|
|
DEFERREX TAX ASSETS |
|
|
0.460 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Interest Accrued on Bank Deposit |
|
|
0.367
|
|
|
Inventories |
|
|
37.989
|
|
|
Sundry Debtors |
|
|
56.181
|
|
|
Cash & Bank Balances |
|
|
24.890
|
|
|
Other Current Assets |
|
|
0.648
|
|
|
Loans & Advances |
|
|
47.831
|
|
Total
Current Assets |
|
|
167.906 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
31.978
|
|
|
Other Current Liabilities |
|
|
22.018
|
|
|
Provisions |
|
|
24.124
|
|
Total
Current Liabilities |
|
|
78.120 |
|
|
Net Current Assets |
|
|
89.786 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
101.866 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
|
376.582 |
616.502 |
|
|
|
Maintenance Contract, Deputation and Other Service Charge |
|
123.950 |
135.586 |
|
|
|
Other Income |
|
3.015 |
5.389 |
|
|
|
Refund of Special Addition Duty Claim of earlier years |
|
0.000 |
3.515 |
|
|
|
TOTAL (A) |
|
503.547 |
760.992 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
|
325.708 |
603.332 |
|
|
|
Maintenance Sub Contract, Service support packs and Other Service
charges |
|
56.984 |
62.929 |
|
|
|
Payment to and Provision for Employees |
|
55.095 |
50.719 |
|
|
|
Administration and Other Expenses |
|
42.006 |
35.682 |
|
|
|
Municipal Cess Paid for Earlier |
|
0.608 |
1.183 |
|
|
|
Increase/(Decrease) in Finished Goods |
NA |
5.595 |
(12.932) |
|
|
|
Increase/(Decrease) in Service Support Packs |
|
(0.630) |
1.825 |
|
|
|
TOTAL (B) |
|
485.366 |
742.738 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
18.181 |
18.254 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
3.884 |
3.008 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
14.297 |
15.246 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
2.187 |
2.830 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
12.110 |
12.416 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
3.965 |
1.542 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
13.090 |
8.145 |
10.874 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
61.613 |
54.225 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
0.000 |
1.088 |
|
|
|
Dividend |
|
0.000 |
2.050 |
|
|
|
Tax on Dividend |
|
0.000 |
0.348 |
|
|
BALANCE CARRIED
TO THE B/S |
|
69.758 |
61.613 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
|
|
|
|
|
|
Sales |
|
6.601 |
0.000 |
|
|
|
Services and Deputation Income |
|
0.000 |
0.452 |
|
|
TOTAL EARNINGS |
|
6.601 |
0.452 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Import of Trading goods |
|
9.364 |
21.217 |
|
|
|
Capital Goods |
|
0.080 |
0.000 |
|
|
TOTAL IMPORTS |
|
9.444 |
21.217 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.96 |
9.93 |
13.26 |
|
|
Particulars |
|
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
650.000 |
520.000 |
|
|
|
|
|
Expected Sales (2013-2014): Rs.750.000 Millions
The above information has been parted by Mr. Ramesh Dave
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
1.62
|
1.42
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
3.22
|
2.01
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
6.15
|
7.06
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.14
|
0.16
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total debt/Networth) |
|
0.53
|
0.54
|
0.32
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.72
|
2.92
|
2.15
|
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
31.03.2010 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long term debt |
19.059 |
7.660 |
NA |
|
|
|
|
|
|
Total |
19.059
|
7.660 |
NA |
|
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
four years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
Yes |
|
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) |
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 |
Yes |
UNSECURED LOANS
|
PARTICULAR |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
From Directors |
4.165 |
2.025 |
|
From Shareholders |
24.610 |
24.015 |
|
|
|
|
|
Total |
28.775 |
26.040 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90156279 |
09/10/2013 * |
110,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, DEVCHAND HOUSE, SHIVSA GAR ESTATE, WORLI, MUMBAI, Maharashtra -
400018, INDIA |
B88550850 |
* Date of charge modification
FIXED ASSETS
·
Computer systems
·
Software
·
Office and Other
Equipments
·
Testing Equipments
·
Furniture and Fixtures
·
Air Conditioners and
Refrigerators
·
Vehicles
·
Electrical Fittings
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 records 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 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.62.06 |
|
|
1 |
Rs.102.03 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
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.