|
Report Date : |
25.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SYNERGY GREEN INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
392, E Ward, Shahupuri, Kolhapur – 416001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
08.10.2010 |
|
|
|
|
Com. Reg. No.: |
11-137493 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 121.600 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100PN2010PTC137493 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAOCS8603A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Foundry Material, Pig Iron, Resin Catalyst, Pneumatic
Tools etc. |
|
|
|
|
No. of Employees
: |
60 (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 549000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “S.B. Reshellers Private Limited”. Even though the company was incorporated in 2010, it started its
commercial activity from June 2012. Mr. Nilesh from Accounts Department has confirmed sales turnover for
2012-2013 which is not verified. However, trade relations are reported to be fair. Business is active.
Payments are reported to be unknown. The company can be considered for business dealings with great
caution. |
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 |
CRISIL |
|
Rating |
Long term rating : (CRISIL) B |
|
Rating Explanation |
Having high risk of default regarding timely
servicing of financial obligation. |
|
Date |
June 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
|
Name : |
Mr. Nilesh |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-231-2658375 |
|
Date : |
24.07.2013 |
LOCATIONS
|
Registered / Corporate Office: |
392, E Ward, Shahupuri, Kolhapur - 416001, Maharashtra, India |
|
Tel. No.: |
91-231-2658375 |
|
Fax No.: |
91-231-2658375 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
C18, MIDC, Kagal, 5-Star Industrial Area, Hatkanagale, Kolhapur -
416216, Maharashtra, India |
|
Tel. No.: |
91-231-2658375 91-230-2305311/ 2305312 |
|
Fax No.: |
91-231-2658375 |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Sachin Rajendra Shirgaokar |
|
Designation : |
Managing director |
|
Address : |
Meena Sarlshkar Heritage, Opposite Circuit House, Tarabai Park, Kolhapur
- 416001, Maharashtra, India |
|
Date of Birth/Age : |
26.02.1966 |
|
Date of Appointment : |
08.10.2010 |
|
PAN No.: |
ACLPS8941H |
|
DIN No.: |
01512497 |
|
|
|
|
Name : |
Mr. Sohan Sanjeev Shirgaokar |
|
Designation : |
Managing director |
|
Address : |
A/P, Ugar Khurd, Taluka Athani, District Belgaum - 591316, Karnataka,
India |
|
Date of Birth/Age : |
07.12.1982 |
|
Date of Appointment : |
08.10.2010 |
|
PAN No.: |
ALLPS5534R |
|
DIN No.: |
00217631 |
|
|
|
|
Name : |
Mr. Rajendra Vinayak Shirgaokar |
|
Designation : |
Director |
|
Address : |
A/P, Ugar Khurd, Taluka Athani, District Belgaum - 591316, Karnataka,
India |
|
Date of Birth/Age : |
10.06.1935 |
|
Date of Appointment : |
21.12.2011 |
|
DIN No.: |
00542644 |
|
|
|
|
Name : |
Mr. Prafulla Vinayak Shirgaokar |
|
Designation : |
Director |
|
Address : |
A/P, Ugar Khurd, Taluka Athani, District Belgaum - 591316, Karnataka,
India |
|
Date of Birth/Age : |
10.09.1938 |
|
Date of Appointment : |
19.01.2011 |
|
DIN No.: |
00151114 |
|
|
|
|
Name : |
Mr. Chandan Sanjeev Shirgaokar |
|
Designation : |
Director |
|
Address : |
A/P, Ugar Khurd, Taluka Athani, District Belgaum-591 316, Karnataka,
India |
|
Date of Birth/Age : |
20.10.1977 |
|
Date of Appointment : |
19.01.2011 |
|
DIN No.: |
00208200 |
|
|
|
|
Name : |
Mr. Niraj Shishir Shirgaokar |
|
Designation : |
Director |
|
Address : |
12 Kostka, 31 Pali Road, Bandra (West), Mumbai - 400050, Maharashtra,
India |
|
Date of Birth/Age : |
25.05.1972 |
|
Date of Appointment : |
19.01.2011 |
|
DIN No.: |
00254525 |
|
|
|
|
Name : |
Sanat Kumar Shirgaokar |
|
Designation : |
Director |
|
Address : |
330 E, Shahupuri, Station Road, Kolhapur - 416001, Maharashtra, India |
|
Date of Birth/Age : |
20.03.1963 |
|
Date of Appointment : |
19.01.2011 |
|
DIN No.: |
00208235 |
|
|
|
|
Name : |
Mr. Jeevan Vasant Shirgaokar |
|
Designation : |
Director |
|
Address : |
12, ,Amey Co-operative Housing Society, Mali Colony, Takala, Kolhapur
- 416008, Maharashtra, India |
|
Date of Birth/Age : |
18.04.1957 |
|
Date of Appointment : |
19.01.2011 |
|
DIN No.: |
00254572 |
|
|
|
|
Name : |
Mr. Anant Shriniwas Huilgol |
|
Designation : |
Director |
|
Address : |
2147, Shrinivas, E Ward, Tarabai Park, Kolhapur - 416003,
Maharashtra, India |
|
Date of Birth/Age : |
03.06.1939 |
|
Date of Appointment : |
19.01.2011 |
|
DIN No.: |
00254492 |
|
|
|
|
Name : |
Vendavagali Srinivasa Reddy |
|
Designation : |
Whole-time director |
|
Address : |
Flat No. 507, 5th Floor, of HR-1, Hari Pooja Puram, 177 E
Ward, Nagala Park, Kolhapur – 416003, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1969 |
|
Date of Appointment : |
01.04.2012 |
|
DIN No.: |
03425960 |
KEY EXECUTIVES
|
Name : |
Mr. Nilesh |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Equity Shareholders |
|
No. of Shares |
|
Sachin Rajendra Shirgaonkar |
|
5000 |
|
Sohan Sanjeev Shirgaonkar |
|
5000 |
|
S. B. Reshellers Private Limited, India |
|
2619922 |
|
Sachin Rajendra Shirgaonkar and Laxmi Sachin Shirgaonkar |
|
363114 |
|
Laxmi Sachin Shirgaonkar and Sachin Rajendra Shirgaonkar |
|
20000 |
|
Rajendra Vinayak Shirgaonkar and Sachin Rajendra Shirgaonkar |
|
10000 |
|
Chandan Sanjeev Shirgaonkar and Radhika Sanjeev Shirgaonkar |
|
3951 |
|
Radhika Sanjeev Shirgaonkar and Chandan Sanjeev Shirgaonkar |
|
371176 |
|
Sohan Sanjeev Shirgaonkar and Radhika Sanjeev Shirgaonkar |
|
3952 |
|
Radhika Sanjeev Shirgaonkar and Sohan Sanjeev Shirgaonkar |
|
371177 |
|
Prafulla Vinayak Shirgaonkar and Smita Prafulla Shirgaonkar |
|
51266 |
|
Smita Prafulla Shirgaonkar and Prafulla Vinayak Shirgaonkar |
|
14650 |
|
Shishir Suresh Shirgaonkar and Savita Shishir Shirgaonkar |
|
84932 |
|
Vendavagali Srinivasa Reddy and Kuberi Vendavagali Reddy |
|
750000 |
|
Dinkar Madhusudan Shirgaonkar and Shraddha Dinkar Shirgaonkar |
|
819 |
|
Vinayak Shirgaonkar Investments Private Limited, India |
|
72500 |
|
Prafulla Shirgaonkar Investments Private Limited, India |
|
15000 |
|
Suresh Shirgaonkar Investments Private Limited, India |
|
59246 |
|
Prabhakar Shirgaonkar Investments Private Limited, India |
|
4500 |
|
D. M. Shirgaonkar Investments Private Limited, India |
|
100433 |
|
Jeevan Vasant Shirgaonkar and Anuja Jeevan Shiragaonkar |
|
14460 |
|
Anant Shrinivas Huilgol and Asha Anant Huilgol |
|
34218 |
|
Anant Huilgol and Namita Sandeep Huilgol |
|
205 |
|
Asha Anant Huilgol and Sandeep Anant Huilgol |
|
9945 |
|
Mukund Krishnaji Kulkarni and Alakananda Mukund Kulkarni |
|
11474 |
|
Ratnakar Dattatray Tagare |
|
3060 |
|
|
|
|
|
Total |
|
5000000 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
S. B. Reshellers Private Limited, India |
|
700000 |
|
Vendavagali Srinivasa Reddy and Kuberi Vendavagali Reddy |
|
16000 |
|
|
|
|
|
Total |
|
716000 |
AS ON 28.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
57.43 |
|
Directors
or relatives of directors |
|
42.27 |
|
Other
top fifty shareholders |
|
0.30 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Foundry Material, Pig Iron, Resin Catalyst, Pneumatic
Tools etc. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
· Scotland |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
· Italy South Africa |
|
|
|
|
Terms : |
|
|
Selling : |
Credit |
|
|
|
|
Purchasing : |
Credit and Depend |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
60 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
· Bank of Baroda, Morarji Khimji Building, Near Jain Basti, 1st Lane, Shahupuri, Kolhapur - 416001, Maharashtra, India HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg,
Lower Parel [West], Mumbai - 400013, Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P G Bhagwat Chartered Accountants |
|
Address : |
B/2, Lower Ground Floor, 3 Anant Paradise, Nagala Park,
Kolhapur – 416003, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFB0762E |
|
|
|
|
Holding company : |
S.B. Reshellers Private Limited [U29199MH1949PTC007210] |
|
|
|
|
Associate : |
Shantaram Machineries Private Limited
[U29254MH1981PTC025896] |
CAPITAL STRUCTURE
AFTER 28.09.2012
Authorised Capital : Rs. 160.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 153.100
Millions
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 60.000 Millions |
|
1,000,000 |
Preference Shares |
Rs. 100/- each |
Rs. 100.000 Millions |
|
|
Total |
|
Rs. 160.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000
Millions |
|
716,000 |
Preference Shares |
Rs. 100/- each |
Rs. 71.600 Millions |
|
|
Total |
|
Rs. 121.600
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 |
|
121.600 |
0.100 |
|
(b) Reserves & Surplus |
|
0.000 |
0.000 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
15.654 |
17.760 |
|
Total
Shareholders’ Funds (1) + (2) |
|
137.254 |
17.860 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
239.626 |
0.515 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
0.850 |
0.500 |
|
(d) long-term
provisions |
|
0.405 |
0.096 |
|
Total Non-current
Liabilities (3) |
|
240.881 |
1.111 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade
payables |
|
0.000 |
0.000 |
|
(c)
Other current liabilities |
|
37.362 |
1.641 |
|
(d) Short-term
provisions |
|
0.146 |
0.000 |
|
Total Current
Liabilities (4) |
|
37.508 |
1.641 |
|
|
|
|
|
|
TOTAL |
|
415.643 |
20.612 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
15.041 |
0.000 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
365.511 |
4.965 |
|
(iv)
Intangible assets under development |
|
4.449 |
0.037 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
23.022 |
13.053 |
|
(e) Other
Non-current assets |
|
2.460 |
0.075 |
|
Total Non-Current
Assets |
|
410.483 |
18.130 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
0.000 |
0.000 |
|
(c)
Trade receivables |
|
0.000 |
0.000 |
|
(d) Cash
and cash equivalents |
|
4.938 |
2.482 |
|
(e)
Short-term loans and advances |
|
0.026 |
0.000 |
|
(f)
Other current assets |
|
0.196 |
0.000 |
|
Total
Current Assets |
|
5.160 |
2.482 |
|
|
|
|
|
|
TOTAL |
|
415.643 |
20.612 |
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
100.000 |
|
|
|
|
|
The above information has been parted by Mr. Nilesh [Accounts
Department]
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 |
31.03.2011 |
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
1.75
|
0.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
0.14 |
1.51 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
12.327 |
0.246 |
|
|
|
|
|
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
one year |
Yes |
|
12] |
Profitability for last
three years |
No |
|
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 |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10430224 |
11.05.2013 |
32,400,000.00 |
Bank of Baroda |
Morarji Khimji Building, Near Jain Basti, 1st Lane, Shahupuri, Kolhapur - 416001, Maharashtra, India |
B76776806 |
|
2 |
10312545 |
31.07.2012 * |
109,000,000.00 |
Bank of Baroda |
Morarji Khimji Building, Near Jain Basti, 1st Lane, Shahupuri, Kolhapur - 416001, Maharashtra, India |
B55902720 |
|
3 |
10312548 |
29.03.2012 * |
337,600,000.00 |
Bank of Baroda |
Morarji Khimji Building, Near Jain Basti, 1st Lane, Shahupuri, Kolhapur - 416001, Maharashtra, India |
B37285855 |
|
4 |
10260756 |
22.12.2010 |
800,000.00 |
HDFC Bank Limited |
HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India |
B03348877 |
* Date of charge modification
CORPORATE INFORMATION
Incorporated as on 08-10-2010, Synergy Green Industries
Private Limited is a subsidiary of S.B. Reshellers Private Limited. The Company
proposes to carry out manufacturing of heavy Cast Iron (CI) and SG Iron
Castings.
ECONOMY AND
INDUSTRY OVERVIEW:
For the past few months, Indian economy is under severe stress due to
various factors like rupee depreciation, high inflation & Interest rates,
increased fiscal deficit, global economic crisis, government policy paralysis
hurting the investors sentiment, have acted as big dampeners for the India
growth story and threatening to bring down the GDP to below 5% levels.
However on long term growth story of India is still intact, with
favorable demographics, huge opportunities in infrastructural development.
Recent initiatives by the government to contain fiscal deficit and encouraging
foreign investment to bring the economy back on track with 7 to 8% GDP growth levels.
Depreciated Rupee will also to provide edge in export market for Indian
manufacturers.
PROSPECTS FOR THE
CURRENT YEAR:
Company has started its operations with healthy order book from Regen
Powertech Private Limited (RPPL) and Enercon India Limited (EIL). RPPL is the
fastest growing wind turbine company in Asia and EIL is a well established
player in the country with top performing design. Both these companies are
holding second and third position in the Industry next to Suzlon. These
companies’ products are based on gearless designs, which are offering higher
efficiencies and competitiveness, rewarding them with sustained growth. These
two customers put together have got a demand of Rs 2500.000 Millions of
castings per annum. In the beginning, company is looking for a market share of
20 to 25 % from these customers.
The company is getting benefitted with its location advantage over
others due to reduced logistics over competitors to RPPL new unit at Udaipur,
and also to EIL unit at Daman.
Product development of RPPL is completed and EIL is underway. This year
objective will be to demonstrate the technical capability of the organisation
by supplying 50 sets of castings to each customer and create strong foundation
for significant market share in coming years.
In order to bring down the logistic cost and to improve the product
cycle time, wind component machining development is taken up with local
suppliers including our group unit Shataram Machineries Private Limited.
Even though major revenues are expected from wind turbine sector, as a
part of industry diversification, company also taking up production for other
engineering sectors like crushers, machine tools and valves.
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. 59.45 |
|
|
1 |
Rs. 91.24 |
|
Euro |
1 |
Rs. 78.44 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.