MIRA
INFORM REPORT
|
Report Date : |
19.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHANKARA INFRASTRUCTURE MATERIAL LIMITED (w.e.f. 25.03.2011) |
|
|
|
|
Formerly Known
As : |
SHANKARA PIPES INDIA LIMITED |
|
|
|
|
Registered
Office : |
G-2, Farah Winsford, No.133, Infantry Road, Bangalore – 560001,
Karnataka |
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|
Country : |
India |
|
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|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
13.10.1995 |
|
|
|
|
Com. Reg. No.: |
08-018990 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.203.137 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26922KA1995PLC018990 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of stainless steel product. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6400000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is a well established company having a good track record.
Financially company seems to be good. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct and as per commitment. The company can be considered normal for business at usual trade terms
and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loan: BBB |
|
Rating Explanation |
Having moderate degree of safety regarding timely servicing of financial
obligation it carry moderate credit risk. |
|
Date |
October 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 (PARTIAL DETAILS)
|
Name : |
Mr. Alex |
|
Designation : |
General Manager Finance |
|
Contact No.: |
91-9845311115 |
|
Date : |
19.07.2013 |
LOCATIONS
|
Registered Office : |
G-2, Farah Winsford, No.133, Infantry Road, Bangalore – 560001,
Karnataka, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9845311115 (Mr. Alex) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory : |
1-1-401, Vasavi Towers, 2nd Floor, SD Road, Secunderabad - 500003,
Andhra Pradesh, India |
|
|
|
|
Godown/ Office : |
A72 and 7 Swidhinath Complex, Anjur Phata Road, Opposite Mahavir
Complex, Post-Dapode Bhiwandi - 421302, Maharashtra, India |
DIRECTORS
As on 04.07.2012
|
Name : |
Mr. Zafar Saifullah |
|
Designation : |
Chairman |
|
Address : |
No.301,”Asha Deep”, 9, Hailey Road, New Delhi-110 001, Delhi, India |
|
Date of Birth/Age : |
24.04.1936 |
|
Date of Appointment : |
29.09.2007 |
|
Din No.: |
00178214 |
|
|
|
|
Name : |
Mr. Sukumar Srinivas |
|
Designation : |
Managing Director |
|
Address : |
No.490, 14th Main Road, III Block, Koramangala, Bangalore-560 034,
Karnataka, India |
|
Date of Birth/Age : |
18.09.1960 |
|
Date of Appointment : |
13.10.1995 |
|
PAN No.: |
AGDPS5408F |
|
Din No.: |
01668064 |
|
|
|
|
Name : |
Mr. Venka Traman Ravichandar |
|
Designation : |
Director |
|
Address : |
No.17, Moyenvilla Road, Langford Town, Bangalore-560 025, Karnataka
India |
|
Date of Birth/Age : |
22.02.1957 |
|
Date of Appointment : |
29.09.2007 |
|
Din No.: |
00634180 |
|
|
|
|
Name : |
Mr. Chowdappa Ravikumar |
|
Designation : |
Director |
|
Address : |
No.13, III Main Road, Maruthi Extension, Srirampuram,
Bangalore-560021, Karnataka, India |
|
Date of Birth/Age : |
01.05.1966 |
|
Date of Appointment : |
15.09.2001 |
|
Din No.: |
01247347 |
|
|
|
|
Name : |
Mr. Ramenani Sivaprasad Venkata Subramanya |
|
Designation : |
Director |
|
Address : |
No.72, Warlu Mansion, Kalyan Nagar, Hyderabad, India |
|
Date of Birth/Age : |
01.10.1957 |
|
Date of Appointment : |
01.10.2002 |
|
Din No.: |
01247339 |
|
|
|
|
Name : |
Snehal Shah |
|
Designation : |
Director |
|
Address : |
D-803,Rakhee Vasant Utsav, Thakur village, Kandivali (East),
Mumbai-400101, Maharashtra, India |
|
Date of Birth/Age : |
18.12.1969 |
|
Date of Appointment : |
08.03.2011 |
|
Din No.: |
00128595 |
|
|
|
|
Name : |
Mr. Siddhartha Mundra |
|
Designation : |
Director |
|
Address : |
188/48,Lake Gardens, Kolkata-700045, West Bengal, India |
|
Date of Birth/Age : |
04.03.1979 |
|
Date of Appointment : |
08.03.2011 |
|
Din No.: |
01173240 |
KEY EXECUTIVES
|
Name : |
Mr. Alex |
|
Designation : |
General Manager Finance |
|
|
|
|
Name : |
Mr. Murali Srinivasan |
|
Designation : |
Secretary |
|
Address : |
1326,11th Cross,7th Main, IIs tage, Mahalaks
Hmipuram, Bangalore-560086, Karnataka, India |
|
Date of Birth/Age : |
25.11.1953 |
|
Date of Appointment : |
01.04.2008 |
|
PAN No.: |
APRPS2278C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 04.07.2012
SHAREHOLDING DETAIL FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 04.07.2012
|
Category |
Percentage |
|
Bodies corporate |
33.39 |
|
Directors or relatives of Directors |
63.90 |
|
Other |
2.71 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of stainless steel product. |
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Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Steel Tubes |
8400 (M. Tons per
annum) |
1500 (M. Tons per
mensem) |
9980 (M.Tons) |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
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Bankers : |
·
Kotak Mahindra Bank Limited, 36-38A, Nariman
Bhavan, 227, D Nariman Point, Mumbai – 400021, Maharashtra, India ·
Standard Charted Bank, Raheja Towers, Sixth
Floor, No. 26-27, M G Road, Bangalore – 560001, Karnataka, India ·
Yes Bank Limited, 9th Floor, Nehru
Centre Discovery of India, dr. Annie Besant Road, Worli, Mumbai – 400018,
Maharashtra, India |
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Facilities : |
|
|
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Haribhakti and Company Chartered Accountants |
|
Address : |
58,A Block, Mena Kampala Arcade, New 18 and 20, old 113/114,
Thayagaraya Road, T Nagar, Chennai-600017, Tamilnadu, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFH2010F |
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|
|
|
Subsidiary company: |
·
Vishal Precision Steel Tubes and Strips Private
Limited, India CIN: U00291KA1991PTC012581 |
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|
|
|
Associate Companies: |
·
Shankara Cargo Movers ·
Shankara Meta Steel India Private Limited ·
Shankara Holdings Private Limited, India ·
CIN: U65993KA2000PTC027182 |
|
|
|
|
Enterprise which are able to exercise significant Influence: |
·
Reliance Alternative Investments Services Private
Limited |
CAPITAL STRUCTURE
As on 04.07.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs. 250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21170216 |
Equity Shares |
Rs.10/- each |
Rs. 211.702
Millions |
|
|
|
|
|
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs. 250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20313657 |
Equity Shares |
Rs.10/- each |
Rs. 203.137
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 |
|
203.137 |
203.137 |
|
(b) Reserves & Surplus |
|
1401.549 |
1141.961 |
|
(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) |
|
1604.686 |
1345.098 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
202.605 |
253.313 |
|
(b) Deferred tax liabilities (Net) |
|
34.927 |
14.214 |
|
(c) Other long term liabilities |
|
0.300 |
0.300 |
|
(d) long-term provisions |
|
1.000 |
1.298 |
|
Total Non-current Liabilities (3) |
|
238.832 |
269.125 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
1830.244 |
602.885 |
|
(b) Trade payables |
|
692.168 |
728.596 |
|
(c) Other current
liabilities |
|
148.595 |
135.108 |
|
(d) Short-term provisions |
|
54.726 |
42.201 |
|
Total Current Liabilities (4) |
|
2725.733 |
1508.790 |
|
|
|
|
|
|
TOTAL |
|
4569.251 |
3123.013 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
987.762 |
508.432 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
4.801 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
80.000 |
80.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
66.482 |
43.112 |
|
(e) Other Non-current assets |
|
12.624 |
7.753 |
|
Total Non-Current Assets |
|
1151.669 |
639.297 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
1139.372 |
757.719 |
|
(c) Trade receivables |
|
2075.598 |
1576.255 |
|
(d) Cash and cash
equivalents |
|
19.927 |
34.580 |
|
(e) Short-term loans and advances |
|
150.381 |
98.166 |
|
(f) Other current assets |
|
32.304 |
16.996 |
|
Total Current Assets |
|
3417.582 |
2483.716 |
|
|
|
|
|
|
TOTAL |
|
4569.251 |
3123.013 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
142.637 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
404.007 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
546.644 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
883.186 |
|
|
2] Unsecured Loans |
|
|
181.256 |
|
|
TOTAL BORROWING |
|
|
1064.442 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1611.086 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
322.899 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.124 |
|
|
DEFERREX TAX ASSETS |
|
|
0.110 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
683.396
|
|
|
Sundry Debtors |
|
|
1184.630
|
|
|
Cash & Bank Balances |
|
|
13.451
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
126.010
|
|
Total
Current Assets |
|
|
2007.487
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
634.886
|
|
|
Other Current Liabilities |
|
|
17.814
|
|
|
Provisions |
|
|
66.834
|
|
Total
Current Liabilities |
|
|
719.534
|
|
|
Net Current Assets |
|
|
1287.953
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1611.086 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
13852.479 |
10167.231 |
7145.405 |
|
|
|
Other Income |
2.844 |
2.955 |
3.071 |
|
|
|
TOTAL (A) |
13855.323 |
10170.186 |
7148.476 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1250.976 |
416.061 |
|
|
|
|
Purchases of stock-in-trade |
11709.083 |
9041.287 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(262.830) |
(78.082) |
|
|
|
|
Employee benefit expense |
105.057 |
80.016 |
|
|
|
|
Other expenses |
405.783 |
270.954 |
|
|
|
|
Prior period items |
(3.371) |
(26.075) |
|
|
|
|
TOTAL (B) |
13204.698 |
9704.161 |
6871.974 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
650.625 |
466.025 |
276.502 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
210.421 |
138.456 |
82.681 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
440.204 |
327.569 |
193.821 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
22.220 |
11.998 |
17.981 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
417.984 |
315.571 |
175.840 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
134.787 |
113.613 |
61.580 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
283.197 |
201.958 |
114.260 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
572.216 |
387.298 |
281.354 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
NA |
17.040 |
8.316 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
572.216 |
387.298 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
13.94 |
13.77 |
8.01 |
|
|
|
Diluted |
13.14 |
12.96 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.04
|
1.99 |
1.60 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.02
|
3.10 |
2.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.32
|
10.37 |
8.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.23 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.27
|
0.64 |
1.95 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25
|
1.65 |
2.79 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
46.923 |
60.534 |
NA
|
|
|
|
|
|
|
Total |
46.923 |
60.534 |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
Note: Registered office of the company has been
shifted from 27, 2nd Cross, CSI Compound Mission Road, Bangalore –
560027, Karnataka, India to the present address
w.e.f 01.09.2006
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Fully convertible debentures intercorporate |
163.777 |
163.777 |
|
Public deposits |
15.150 |
16.850 |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand from banks |
178.691 |
178.669 |
|
|
|
|
|
Total |
357.618 |
359.296 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U26922KA1995PLC018990 |
|
Name of the
company |
SHANKARA
INFRASTRUCTURE MATERIALS LIMITED |
|
Address of the
registered office or of the principal place of business in |
G-2, Farah Winsford, No.133, Infantry Road, Bangalore – 560001, Karnataka,
India Email: alex@shankarainfra.com
|
|
This form is for |
Creation of charge |
|
Charge
identification (ID) number of the charge to be modified |
|
|
Type of charge |
·
Immovable
property ·
Any interest in
immovable property |
|
Particular of
charge holder |
CIN: U26922KA1995PLC018990 Yes Bank Limited, 9th Floor, Nehru Centre Discovery of
India, dr. Annie Besant Road, Worli, Mumbai – 400018, Maharashtra, India Email: shareholders@yesbank.in
|
|
Nature of
instrument creating charge |
Memorandum of
Equitable Mortgage by Deposit of Title Deeds by Corporate Bodies |
|
Date of
instrument Creating the charge |
08.04.2013 |
|
Amount secured by
the charge |
Rs.150.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 3.0% above the
YES Bank Base Rate. Currently, YES Bank Base Rate is 10.50% p.a. Terms of
Repayment Tenor: 36 months
with 6 months moratorium Repayment in 6
month moratorium and 30 equal monthly repayment of principal thereafter from
the first date of disbursement Margin 1.25x of the
facility amount if this margin is not covered by property mortgaged, then additional
property to be provided Extent and
Operation of the charge Exclusive Charge
on Commercial Land and Building (property situated at Mumbai and Salem City); |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Ward H, Block 13,
Sy No. 6/3, Annathanapatti Mitta, Andipatti Village, Salem. (Acre 0 and 55
Cents) more detailed in Second schedule of MOE Survey No. 31,
Hissa No. 9, Survey No. 28, Hissa No. 1 (Paiki) and Survey No. 28, Hissa No.
3 (About 5810 sq mtrs) |
FIXED ASSETS
Tangible assets
·
Land
·
Buildings
·
Office building
·
Plant and equipment
·
Factory equipments
·
Furniture and fixtures
·
Vehicles
·
Motor vehicles
·
Office equipment
·
Computer equipments
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.59.71 |
|
|
1 |
Rs.90.59 |
|
Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
48 |
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.