|
Report Date : |
30.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
SES TECHNOLOGIES LIMITED (w.e.f 18.12.2006) |
|
|
|
|
Formerly Known
As : |
SES Computers and Technologies Private Limited |
|
|
|
|
Registered
Office : |
SES House, Plot No. 70, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
14.07.1992 |
|
|
|
|
Com. Reg. No.: |
11-166276 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 170.812 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74200MH1992PLC166276 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS24279D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS3931K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Distributor
for Computer and Computer Peripherals. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
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|
|
|
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, there appears drastic full in sales turnover
and there appears some loss recorded by the company. However, 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 |
FITCH |
|
Rating |
Long term Rating = BBB- |
|
Rating Explanation |
FITCH has withdrawn its rating BBB- due to lack of information. |
|
Date |
December 2011 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
Management non Co-operative (91-22-28230099)
LOCATIONS
|
Registered Office : |
SES House, Plot No. 70, |
|
Tel. No.: |
91-22-30862534 |
|
Fax No.: |
91-22-30862626 / 30862607 |
|
E-Mail : |
piyush.shah@sesindia.com |
|
Website : |
www.investing.businessweek.com
www.sesindia.com |
|
Location : |
Owned |
|
|
|
|
Administrative Office: |
194, Arvind Chambers, |
|
Tel. No.: |
91-22-28230088 / 28230099 |
|
|
|
|
Factory : |
Mumbai – |
|
Tel. No.: |
91-20-27124991 – 94 |
|
Fax No.: |
91-20-27124264 |
|
|
|
|
Overseas office : |
SES Technologies (Singapore Headquarter), Alpha Computers(S) Pte Limited, 50, Kallang
Avenue, #07-02, Noel Corporate Building, Singapore – 339505 |
|
Tel No.: |
65
63333196 |
|
Fax No.: |
65
63321558 |
|
|
|
|
Note: |
Subject has 55 Branch Office all over |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Ashu Chawla |
|
Designation : |
Director |
|
Address : |
B-275, Sector 50, Noida-201301, |
|
Date of Birth/Age : |
24.06.1971 |
|
Date of Appointment : |
23.09.2006 |
|
DIN : |
00047286 |
|
|
|
|
Name : |
Mr. Harsh Chawla |
|
Designation : |
Director |
|
Address : |
B-275, Sector 50, Noida-201301, |
|
Date of Birth/Age : |
01.06.1977 |
|
Date of Appointment : |
23.09.2006 |
|
DIN : |
00807897 |
|
|
|
|
Name : |
Mr. Kamran Abdul Gani Radiowala |
|
Designation : |
Managing Director |
|
Address : |
Firdaus Apartment, 1st Floor, R N-4, |
|
Date of Birth/Age : |
17.07.1972 |
|
Date of Appointment : |
09.07.2007 |
|
DIN : |
01681109 |
|
|
|
|
Name : |
Mr. Naresh Khosla |
|
Designation : |
Director |
|
Address : |
C-904, Exotica East Square, Behind Vijaya Bank, Indrapuram, |
|
Date of Birth/Age : |
25.12.1971 |
|
Date of Appointment : |
17.07.2009 |
|
DIN : |
01427638 |
KEY EXECUTIVES
|
Name : |
Mr. Dilip Kumar Gupta |
|
Designation : |
Company Secretary |
|
Address : |
I JB Patel Colony, Opposite Kalpana Hospital, |
|
Date of Birth/Age : |
12.03.1981 |
|
Date of Appointment : |
08.09.2008 |
|
PAN : |
AOVPG7314N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
L.C.R Investments Private Limited, |
|
1708116 |
|
Ms. Ashu Chawla (Nominee of I.C.R Investment Private Limited) |
|
1 |
|
Ms. Arti Gupta |
|
1 |
|
Ms. Shivani Gupta |
|
1 |
|
Ms. Angoori Devi Gupta |
|
1 |
|
Mr. Rajaneesh Pahadia |
|
1 |
|
Mr. Anil Kumar Gupta |
|
1 |
|
Total
|
|
1708122 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributor
for Computer and Computer Peripherals. |
||||||
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|
||||||
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Products : |
|
||||||
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|
||||||
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Agencies Held : |
·
Philips ·
Intel ·
Samsung ·
Microsoft ·
Elite Group |
||||||
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|
||||||
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Imports : |
|
||||||
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Products : |
Hard Disk Drive |
||||||
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Countries : |
·
China ·
US ·
Singapore |
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Terms : |
|
||||||
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Selling : |
Cash / Credit (30 Days / 60 Days / 90 Days) |
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|
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Purchasing : |
Cash / Credit (30 Days / 60 Days / 90 Days) |
GENERAL INFORMATION
|
Customers : |
End Users and OEM’s |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
Tel No.: 91-20-24452170
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Facilities : |
(Rs.
In Millions)
|
|||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ashok Khandelwal Associates Chartered Accountants |
|
Address : |
912-B, Indra Prakash, 21, |
|
Tel. No.: |
91-11-23319140/ 43526370 |
|
Fax No.: |
91-11-23730523 |
|
E-Mail : |
AAHFA8634P |
|
PAN.: |
|
|
|
|
|
Holding Company : |
L.C.R Investments Private Limited U74899DL1989PTC038138 |
|
|
|
|
Subsidiaries : |
Alpha Computers (Singapore) Private Limited |
|
|
|
|
Fellow Subsidiary : |
|
|
|
|
|
Companies in which a
director is interested (‘Interested Companies’) |
· Unlimited Electronics and Computers (S) Pte Limited · Arrow Distribution (Rajasthan) Private Limited ·
ITJ Retails Private Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2960000 |
Equity Shares |
Rs.100/- each |
Rs.296.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1708122 |
Equity Shares |
Rs. 100/-
each |
Rs.170.812 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 |
170.812 |
170.812 |
170.812 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
86.308 |
65.505 |
70.040 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
257.120 |
236.317 |
240.852 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
739.223 |
813.266 |
865.964 |
|
|
2] Unsecured Loans |
192.000 |
0.000 |
278.413 |
|
|
TOTAL BORROWING |
931.223 |
813.266 |
1144.377 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1188.343 |
1049.583 |
1385.229 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
177.109 |
189.984 |
206.594 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
116.575 |
|
|
|
|
|
|
|
|
INVESTMENT |
45.791 |
45.791 |
45.798 |
|
|
DEFERREX TAX ASSETS |
3.986 |
6.372 |
4.549 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
49.014
|
322.657 |
324.535
|
|
|
Sundry Debtors |
384.827
|
884.807 |
1002.413
|
|
|
Cash & Bank Balances |
34.065
|
173.067 |
94.623
|
|
|
Other Current Assets |
10.343
|
141.521 |
234.979
|
|
|
Loans & Advances |
532.722
|
143.037 |
590.487
|
|
Total
Current Assets |
1010.971
|
1665.089 |
2247.037 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
23.729
|
800.881 |
1198.393
|
|
|
Other Current Liabilities |
25.373
|
30.403 |
29.305
|
|
|
Provisions |
0.412
|
5.369 |
7.626
|
|
Total
Current Liabilities |
49.514
|
836.653 |
1235.324 |
|
|
Net Current Assets |
961.457
|
828.436 |
1011.713
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1188.343 |
1070.583 |
1385.229 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2730.932 |
6711.724 |
6903.919 |
|
|
|
Other Income |
10.337 |
10.102 |
10.010 |
|
|
|
TOTAL (A) |
2741.269 |
6721.826 |
6913.929 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
2478.757 |
6389.041 |
6546.992 |
|
|
|
Employee related expenses |
78.839 |
99.150 |
99.747 |
|
|
|
Administrative selling other expenses |
83.362 |
104.855 |
103.092 |
|
|
|
Prior period items |
0.000 |
1.338 |
0.000 |
|
|
|
TOTAL (B) |
2640.958 |
6594.384 |
6749.831 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
100.311 |
127.442 |
164.098 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
90.710 |
95.347 |
119.998 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
9.601 |
32.095 |
44.100 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.027 |
6.137 |
7.322 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
4.574 |
25.958 |
36.778 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.770 |
9.494 |
15.057 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(0.196) |
16.464 |
21.721 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
74.886 |
58.422 |
36.878 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Prior Period Income / Expenses |
0.000 |
0.000 |
(0.129) |
|
|
|
Excess Provision for Taxation for Earlier
Year |
0.000 |
0.000 |
(0.048) |
|
|
BALANCE CARRIED
TO THE B/S |
74.690 |
74.886 |
58.422 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Traded Goods |
171.464 |
84.727 |
23.209 |
|
|
|
Export of Services |
158.501 |
20.034 |
0.000 |
|
|
TOTAL EARNINGS |
329.965 |
104.761 |
23.209 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.11) |
9.64 |
12.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(0.01)
|
0.24 |
0.31
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.16
|
0.39 |
0.53
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.38
|
1.40 |
1.50
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.11 |
0.15
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.81
|
6.98 |
9.88
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
20.42
|
1.99 |
1.82
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Rs.
In Millions
|
Particular |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Creditors due small micro enterprises |
23.729 |
800.881 |
1198.393 |
|
Total |
23.729 |
800.881 |
1198.393 |
|
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 |
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 |
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 |
No |
|
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 |
change of Address
The Registered Address of the company has been shifted from Okay
Industries Compound, A-35, Street No. 2, MIDC, Andheri (East), Mumbai-400093, Maharashtra,
India to present address w.e.f. 02.06.2007.
BACKGROUND
Starting off in 1992 as an Intel distributor, today in the world of IT distribution in India, SES Technologies has distinguished itself as a Value Distribution Partner. The organization has grown over the decade through its channel partner network and association with major international vendors. The company has a network of more than 8,500 channel partners and continued association with major international vendors. SES Technologies Limited is amongst the selected few to provide a unique combination of distribution and service support.
Due to adverse market conditions the company has closed all its branches except at Mumbai and Vasai.
CONTINGENT
LIABILITIES NOT PROVIDED FOR (As on 31.03.2012)
a) Custom Duty
(i) Custom duty payment for import of traded goods has been disputed by the Customs Authorities Mumbai, who have raised demand of Rs.2.757 Millions for the year ending March 31, 1999. The Company has filed appeals with the Customs, Central Excise and Gold (Control) Appellate and Tribunal against the demands raised. The position of the case remains status quo at the end of the financial year.
b) Sales Tax
(i) Demands have been raised against the Company by the Sales Tax Officer, Kolkotta for Rs. 0.290 Million for the financial year ended March 31, 2005 towards Calcutta Sales Tax and Rs. 0.03 Million towards Central Sales tax. The Company has filed an appeal before the Deputy Commissioner for Commercial Taxes against the demand.
(ii) Demand of Rs.0.114 Million have been raised against the Company by the Sales Tax Officer, Lucknow for the year ended March 31, 2002 against which Company has paid Rs.0.056 Million as deposit against appeal. The Company has filed an appeal against the demand and obtained interim stay against the recovery of the entire amount.
(iii) Demand of Rs.0.628 Million and Rs. 0.560 Million have been raised against the company by the Sales tax officer, Jamshedpur for the year 2004-05 and 2005-06 against which company has filed an appeal.
(iv) Demand of Rs.4.908 Millions have been raised against the Company by the Sales Tax Officer, Lucknow for the year ended March 31, 2009 against which Company has paid Rs. 0.270 Million as deposit against appeal. The Company has filed an appeal against the demand and obtained interim stay against the recovery of the balance amount.
(v) Demand of Rs. 2.001 Millions has been raised against the Company by the Value Added Tax Officer, Delhi for the year ended March 31, 2006 against which the Company has filed an appeal.
c) Bank guarantees /
Letter of credit
Standby letter of credits issued to foreign suppliers is Rs. Nil (Previous year Rs. 151.827 Millions).
Other bank guarantees and letter of credits outstanding as on March 31, 2011 were Rs. 17.167 Millions (Previous year Rs. 143.149 Millions)
Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) Rs. Nil (Previous year – Rs Nil)
Secured Loans from Banks are against mortgage of immovable property, hypothecation of fixed assets, stocks and book debts, corporate guarantee of holding company, personal guarantee of a director and a relative of the shareholders of the holding company.
UNSECURED LOAN
Rs.
In Millions
|
|
As
on 31.03.2011 |
As
on 31.03.2010 |
|
Other external commercial borrowings unsecured |
192.000 |
0.000 |
|
Total |
192.000 |
0.000 |
Fixed Assets:
·
Computers
·
Office-Equipments
·
Furniture and Fittings
·
Electrical Installation
·
Plant and Machinery
·
Vehicles
·
Building
·
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 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.53.70 |
|
|
1 |
Rs.84.35 |
|
Euro |
1 |
Rs.72.21 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.