MIRA
INFORM REPORT
|
Report Date : |
26.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
SUPERNOVA ENGINEERS LIMITED |
|
|
|
|
Formerly Known
As : |
SUPERNOVA ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
B-91, C G Road, Pariseema Complex, 9th Floor, Opposite Lal
Bungalow, Ellisbridge, Ahmedabad-380006, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
02.02.1987 |
|
|
|
|
Com. Reg. No.: |
04-009346 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.36.000 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U31100GJ1987PLC009346 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
AHNS00113B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACCS6758G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Diesel Generators Sets. |
|
|
|
|
No. of Employees
: |
100 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 916000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The latest
financials are not made available with the government department. As per previous year’s record, there appears slight dip in the sales
turnover. However, financially company appears to be good. Trade relations are
reported to be fair. Business is active. Payments are unknown. 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
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village farming,
modern agriculture, handicrafts, a wide range of modern industries, and a
multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BBB + [Long Term] |
|
Rating Explanation |
Having moderate degree of safety regarding timely servicing of financial
obligation. It carry moderate credit risk. |
|
Date |
February 2012 |
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 [GENERAL DETAILS]
|
Name : |
Mr. Loknath |
|
Designation : |
Export Import Department |
|
Contact No.: |
91-79-26401450 |
|
Date : |
23.02.2013 |
LOCATIONS
|
Registered Office : |
B-91, |
|
Tel. No.: |
91-79-26401450 / 26401676 / 26407792 |
|
Fax No.: |
91-79-26400004 / 26408982 / 26400633 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
4000 sq. ft |
|
Location : |
Owned |
|
|
|
|
Marketing Office : |
3rd Floor, Gopal Palace – ‘A’ Wing, Opposite Ocean Park,
Nehru Nagar Cross Road, Ahmedabad, Gujarat, India |
|
Tel. No.: |
91-79-32422163/ 32422166/ 26766824 |
|
Fax No.: |
91-79-26766825 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
Rajpur 1470/1, Village, Rajpur, Taluka, Kadi, District Mehsana, Gujarat,
India |
|
Tel. No.: |
91-2764-324852/ 856 |
|
Fax No.: |
91-2764-278469 |
|
Area : |
10000 sq.mtr |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Silvasa Survey No. 263/2/1, Plot No. 1, Village Sayli, Silvassa, Dadra and
Nagar Haveli, India |
|
Tel. No.: |
91-260-2996630/ 32 |
|
Fax No.: |
91-260-2996631 |
|
Area : |
40000 sq. ft |
|
Location : |
Owned |
|
|
|
|
Wind Mill Plant
: |
Near Porbunder, Kuchidi, (They have one wind mill which is of 600 mega wait, they use this
power in the own factory.) |
|
|
|
|
Branch Office : |
Located At:- ·
Mumbai ·
Ahmedabad ·
Chennai ·
|
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Samir Vasudev Mistry |
|
Designation : |
Managing Director |
|
Address : |
14, Pushpadhanvan Bungalows, Opposite Taxsheela Flats, Vastrapur,
Ahmedabad-380015, |
|
Date of Birth/Age : |
15.11.1961 |
|
Qualification : |
Diploma in Electric Engineering |
|
Date of Appointment : |
02.02.1987 |
|
DIN : |
01376697 |
|
|
|
|
Name : |
Mr. Unmesh Vasudev Mistry |
|
Designation : |
Whole Time Director |
|
Address : |
14, Pushpadhanvan Bungalows, Opposite Taxsheela Flats, Vastrapur,
Ahmedabad-380015, |
|
Date of Birth/Age : |
10.11.1965 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
02.02.1987 |
|
DIN : |
01637552 |
|
|
|
|
Name : |
Mr. Vasudev Keshavlal Mistry |
|
Designation : |
Whole Time Director |
|
Address : |
14, Pushpadhanvan Bungalows, Opposite Taxsheela Flats, Vastrapur,
Ahmedabad-380015, |
|
Date of Birth/Age : |
03.10.1939 |
|
Qualification : |
Diploma |
|
Date of Appointment : |
30.09.2003 |
|
DIN : |
01376968 |
|
|
|
|
Name : |
Mr. Ketan Rameshchandra Thakkar |
|
Designation : |
Director |
|
Address : |
16/B, Vrujraj, Sarovdaya Co operative Housing society, Jawahar Chowk,
Maninagar, Ahmedabad-380008, |
|
Date of Birth/Age : |
01.10.1972 |
|
Date of Appointment : |
24.06.2005 |
|
DIN : |
01643097 |
|
|
|
|
Name : |
Mrs. Shital Nilay Parikh |
|
Designation : |
Director |
|
Address : |
11, Aakar Apartment, Jawahar Colony, Jawahar Chowk, Maninagar, Ahmedabad-380008,
|
|
Date of Birth/Age : |
16.11.1972 |
|
Date of Appointment : |
24.06.2005 |
|
DIN : |
01650009 |
|
|
|
|
Name : |
Mr. Akta Pareshbhai Bagadia |
|
Designation : |
Director |
|
Address : |
C-162, Gagan Vihar Flat, Khanpur Darwaja Same , Ahmedabad-380001, |
|
Date of Birth/Age : |
10.06.1980 |
|
Date of Appointment : |
24.06.2005 |
|
DIN : |
01528192 |
KEY EXECUTIVES
|
Name : |
Mr. Loknath |
|
Designation : |
Export Import Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Samir Vasudev Mistry |
|
654750 |
|
Unmesh Vasudev Mistry |
|
669900 |
|
Nitin C Thakkar |
|
150000 |
|
Vasudev Keshavlal Mistry |
|
235600 |
|
Surekhaben Mistry |
|
211100 |
|
Trupti Mistry |
|
387150 |
|
Hita Mistry |
|
228000 |
|
Samir Vasudev Mistry HUF |
|
400600 |
|
Unmesh Vasudev HUF |
|
17100 |
|
Vasudev Keshavlal Mistry HUF |
|
180800 |
|
Supernova Systems Private Limited, India |
|
465000 |
|
|
|
|
|
TOTAL
|
|
3600000 |
AS ON 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
12.92 |
|
Directors
or relatives of directors |
|
82.91 |
|
Other
top fifty shareholders |
|
4.17 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Diesel Generators Sets. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Finished Goods |
||||
|
Countries : |
·
Saudi Arabia ·
Bangladesh |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Materials |
||||
|
Countries : |
·
China ·
Italy |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
L/C / Cash and Credit |
||||
|
|
|
||||
|
Purchasing : |
L/C / Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Volvo Penta Sweden |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Customers : |
End Users ·
Reliance Industries Limited |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
100 [Approximately] |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
·
Development Credit Bank Limited, “Prerna Arcade”,
Ground Floor, Opposite Doctor House, Near Parimal Garden, C G Road,
Ahmedabad, - 380006 Gujarat, India ·
Bank of India, Ahmedabad Corporate Banking
Branch, 2nd Floor, Bank of India Building, Bhadra,
Ahmedabad-380001, Gujarat, India. |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Talati and Talati Chartered Accountant |
|
Address : |
Ambica Chambers, Near Old High Court, Navrangpura, Ahmedabad-380009, |
|
Tel. No.: |
91-79-27544571 / 72 |
|
Fax No.: |
91-79-27542233 / 30084575 |
|
PAN No: |
AAAFT4520A |
|
|
|
|
Other Related Parties : |
·
Supernova Systems Private Limited ·
Nixyhova Motors Private Limited, Ahmedabad, Near
Grand Bhagwati ·
Autonova Motors Private Limited, Ahmedabad, Bear
Grand Bhavan |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5250000 |
Equity Shares |
Rs.10/- each |
Rs.52.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3600000 |
Equity Shares |
Rs.10/- each
|
Rs.36.000
Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
36.000 |
36.000 |
32.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
193.134 |
190.403 |
140.838 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
229.134 |
226.403 |
172.838 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
129.178 |
108.515 |
51.967 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
129.178 |
108.515 |
51.967 |
|
|
DEFERRED TAX LIABILITIES |
19.010 |
14.844 |
6.874 |
|
|
|
|
|
|
|
|
TOTAL |
377.322 |
349.762 |
231.679 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
179.067 |
198.714 |
139.433 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.165 |
0.166 |
0.166 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
85.392
|
181.234
|
159.533
|
|
|
Sundry Debtors |
177.803
|
212.830
|
366.203
|
|
|
Cash & Bank Balances |
142.240
|
321.097
|
254.496
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
137.389
|
131.898
|
104.806
|
|
Total
Current Assets |
542.824
|
847.059 |
885.038 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
205.757
|
490.011
|
623.209
|
|
|
Other Current Liabilities |
42.449
|
57.461
|
51.720
|
|
|
Provisions |
96.528
|
148.705
|
118.029
|
|
Total
Current Liabilities |
344.734
|
696.177
|
792.958
|
|
|
Net Current Assets |
198.090
|
150.882
|
92.080
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
377.322 |
349.762 |
231.679 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
999.611 |
2132.585 |
1815.167 |
|
|
|
Other Income |
68.610 |
44.928 |
29.379 |
|
|
|
TOTAL (A) |
1068.221 |
2177.513 |
1844.546 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
879.778 |
|
|
|
|
|
Manufacturing service costs |
37.825 |
106.485 |
1716.089 |
|
|
|
Employee related expenses |
36.048 |
36.495 |
|
|
|
|
Administrative selling other expenses |
75.650 |
82.844 |
|
|
|
|
TOTAL (B) |
1029.301 |
2036.103 |
1716.089 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
38.920 |
141.410 |
128.457 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.704 |
5.775 |
20.873 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
27.216 |
135.635 |
107.584 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
18.509 |
13.289 |
10.304 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
8.707 |
122.346 |
97.280 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.976 |
41.587 |
34.258 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
2.731 |
80.759 |
63.022 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
154.625 |
121.135 |
99.520 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed dividend declared |
|
33.611 |
30.005 |
|
|
|
Corporate dividend tax |
|
5.582 |
5.099 |
|
|
|
Transfer to general reserves |
|
8.076 |
6.302 |
|
|
BALANCE CARRIED
TO THE B/S |
157.356 |
154.625 |
121.136 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
8.315 |
37.279 |
43.574 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components & Spares |
346.368 |
280.297 |
214.222 |
|
|
|
Capital Goods |
0.000 |
13.400 |
0.000 |
|
|
TOTAL IMPORTS |
346.368 |
293.697 |
214.222 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.76 |
24.03 |
21.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.25
|
3.71
|
3.42
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.87
|
5.74
|
5.36
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.21
|
11.70
|
9.49
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.54
|
0.56
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.56
|
0.47
|
0.30
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.57
|
1.22
|
1.12
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
205.757
|
490.011
|
623.209
|
|
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 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 |
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
FINANCIAL RESULTS
AND OPERATIONAL REVIEW:
During the year,
the Company has earned a profit before tax of Rs. 8.707 Millions after
providing Rs. 18.508 Millions for depreciation and Rs. 18.677 Millions for financial
expenses. The Company has also made provision of Rs. 1.580 Millions for income
tax including wealth tax and Rs. 4.165 Millions for deferred tax expenses.
After taking into accounts the previous year profits of Rs. 154.625 Millions
and providing taxation, the total profit carried to balance sheet stands at Rs.
157.356 Millions.
During the year,
the total turnover of the Company was Rs. 1094.842 Millions. The company has
also received Rs. 68.609 Millions from other sources. However due to sudden disturbance
and changes in telecom sector, the current period operations has witnessed low
performance.
FIXED ASSETS:
·
·
·
·
Plant and Machinery
·
Electric Installation
·
Office Equipments
·
Furniture and Fixtures
·
Computer
·
Air Condition
·
Wind Mill
·
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 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.54.04 |
|
|
1 |
Rs.81.80 |
|
Euro |
1 |
Rs.71.41 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
36 |
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.