MIRA
INFORM REPORT
|
Report Date : |
28.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
SANGHVI ELECTRONICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Shop No. 7, 23/B Purshottam Building, Tribhuvan Road Cross, Lamington Road,
Mumbai-400004, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
07.12.1990 |
|
|
|
|
Com. Reg. No.: |
11-059333 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4.498 Millions
|
|
|
|
|
CIN No.: [Company Identification
No.] |
U30007MH1990PTC059333 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS15235D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS6108D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Distributor of Electronic Products and Computer
Peripherals. |
|
|
|
|
No. of Employees
: |
70 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 61000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Even though the performance of the company is improving steadily. The profit
margin appears to be low. The profit margin appears to be low. External
borrowings appear to be huge and the liquidity position also seems to be
weak. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. The company can be considered for business
dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 : |
Accountant |
|
Contact No.: |
91-9820146020 |
|
Date : |
27.06.2013 |
LOCATIONS
|
Registered Office : |
Shop No. 7, 23/B Purshottam Building, Tribhuvan Road Cross, Lamington
Road, Mumbai-400004, Maharashtra, India |
|
Tel. No.: |
91-22-23894000 / 23803333 / 23894001 |
|
Fax No.: |
91-22-23803333 |
|
E-Mail : |
|
|
|
|
|
Warehouse : |
Shop No.13/B, Rajasthan Ind., Bajarang Dairy, Village Chincholi,
Bhiwandi, Mumbai, Maharashtra, India |
|
|
|
|
Branches : |
Located At: · Hyderabad Bangalore Delhi Indore Raigad Kolhapur Ahmedabad |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Suresh Jethmal Sanghvi |
|
Designation : |
Director |
|
Address : |
205, Sybille Apartment, |
|
Date of Birth/Age : |
02.11.1963 |
|
Qualification : |
B.Com. |
|
Date of Appointment : |
07.12.1990 |
|
DIN No.: |
00427594 |
|
|
|
|
Name : |
Mr. Sudhir Ramdas Sadar |
|
Designation : |
Director |
|
Address : |
20, New Prabhat Colony, Near Indrayani Colony, Banera Road,
Amravati-444606, Maharashtra, Maharashtra, India |
|
Date of Birth/Age : |
18.06.1969 |
|
Qualification : |
BE |
|
Date of Appointment : |
20.11.2008 |
|
DIN No.: |
02211169 |
|
|
|
|
Name : |
Mr. Ronak Suresh Sanghvi |
|
Designation : |
Director |
|
Address : |
205, Sibylee Apartment, 65, |
|
Date of Birth/Age : |
29.08.1990 |
|
Date of Appointment : |
20.11.2008 |
|
DIN No.: |
02337127 |
KEY EXECUTIVES
|
Name : |
Mr. Nilesh |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Suresh J. Sanghvi |
|
106100 |
|
Shailesh A. Jain |
|
1200 |
|
Veetrag B. Bafna |
|
1100 |
|
Anjana S. Sanghvi |
|
51000 |
|
Ugam J. Sanghvi |
|
1000 |
|
Aatish A. Sanghvi |
|
1000 |
|
Ronak S. Sanghvi |
|
1000 |
|
Suresh Jethmal Sanghvi HUF |
|
1000 |
|
Sushila S. Seth |
|
100 |
|
Suresh M.Seth |
|
100 |
|
Aadittya A. Sanghvi |
|
16000 |
|
Ramesh Vardhan |
|
10 |
|
Sayarmal L. Jain |
|
10 |
|
Sonu S. Jain |
|
12500 |
|
Vimla Doshi |
|
10 |
|
Anita M. Mehta |
|
10 |
|
Rakhi V. Shroff |
|
20000 |
|
Maya V. Shroff |
|
20000 |
|
Parveenkanta R. Jain |
|
26000 |
|
Poonam V. Kapoor |
|
25000 |
|
Gautam Chand Jain |
|
10 |
|
Total Communication Services |
|
10 |
|
Sikha Finance and Leasing Private Limited, India |
|
50000 |
|
Ronak S. Sanghvi |
|
3480 |
|
Prashant R. Mehta |
|
10 |
|
Rahulkumar Rikhabchand Mehta |
|
10 |
|
Rikhabchand M. Jain |
|
10 |
|
Nav Srajan Properties Private Limited, India |
|
113100 |
|
Total |
|
449770 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
42.97 |
|
Other top fifty shareholders |
57.03 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Distributor of Electronic Products and Computer
Peripherals. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||
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|
||||||||||||
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No. of Employees : |
70 (Approximately) |
||||||||||||
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||||||||||||
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Bankers : |
· Indian Overseas Bank, Breach Candy Branch, 65/67, Mazda Mansion, Bhulabhai Desai Road, Breach Candy, Mumbai – 400026, Maharashtra, India IDBI Bank, Mumbai, Maharashtra, India |
||||||||||||
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||||||||||||
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Facilities : |
Cash Credit : Rs. 90.000 millions (From Indian Overseas Bank) Letter of Guarantee : Rs. 20.000 millions (From Indian Overseas
Bank)
Note: Short Term
Borrowings Terms and
conditions of borrowings Cash credit facility from bank is secured against hypohtetication of stock in trade and book debts. The above cash credit facility is further secured by motgage of the immovable property situated at Mumbai owned by wife of a Director. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Salgia and Associates Chartered Accountants |
|
Address : |
Panthky House, 1st Floor, 8, Maruti Cross Lane, Fort,
Mumbai- 400001, Maharashtra, India |
|
Tel. No.: |
91-22-22619784 |
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E-Mail : |
|
|
PAN No.: |
ADSPS9398A |
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|
|
|
Enterprises where key management personnel of relatives of key
management personnel have control or singnificant influence : |
Nav Srajan Properties Private Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
449770 |
Equity Shares |
Rs.10/- each |
Rs.4.498
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 |
|
4.498 |
4.498 |
|
(b) Reserves & Surplus |
|
10.689 |
9.673 |
|
(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) |
|
15.187 |
14.171 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
|
|
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
58.292 |
57.027 |
|
(b) Trade payables |
|
74.575 |
22.581 |
|
(c) Other current
liabilities |
|
1.029 |
0.577 |
|
(d) Short-term provisions |
|
0.100 |
0.905 |
|
Total Current Liabilities (4) |
|
133.996 |
81.090 |
|
|
|
|
|
|
TOTAL |
|
149.183 |
95.261 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1.032 |
0.700 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.120 |
0.084 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
1.152 |
0.784 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.050 |
0.000 |
|
(b) Inventories |
|
65.011 |
36.328 |
|
(c) Trade receivables |
|
68.599 |
45.508 |
|
(d) Cash and cash
equivalents |
|
3.118 |
2.969 |
|
(e) Short-term loans and
advances |
|
11.253 |
9.672 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
148.031 |
94.477 |
|
|
|
|
|
|
TOTAL |
|
149.183 |
95.261 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
4.498 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
8.915 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
13.413 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
44.051 |
|
|
TOTAL BORROWING |
|
|
44.051 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
57.464 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.882 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.083 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
26.972 |
|
|
Sundry Debtors |
|
|
30.260 |
|
|
Cash & Bank Balances |
|
|
6.905 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
10.237 |
|
Total
Current Assets |
|
|
74.374 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
16.214 |
|
|
Other Current Liabilities |
|
|
1.100 |
|
|
Provisions |
|
|
0.561 |
|
Total
Current Liabilities |
|
|
17.875 |
|
|
Net Current Assets |
|
|
56.499 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
57.464 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
185.930 |
|
|
|
Other Income |
|
|
NA |
|
|
|
TOTAL |
426.812 |
331.178 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
424.981 |
329.887 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.831 |
1.291 |
1.357 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION
AMORTISATION |
0.271 |
0.189 |
0.219 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1.560 |
1.102 |
1.138 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.544 |
0.344 |
0.369 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.016 |
0.758 |
0.769 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9.173 |
8.415 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
10.189 |
9.173 |
0.769 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sales (FOB Value) |
17.271 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
17.271 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.26 |
1.69 |
1.70 |
|
|
Particulars |
|
|
31.03.2013 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
318.900 |
|
|
|
|
|
Expected Sales (2013-2014) : Rs. 700.000 millions
The above information has been parted by Mr. Nilesh (Accountant)
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.24
|
0.23 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
0.61 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.05
|
1.16 |
1.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.08 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.84
|
4.02 |
3.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10
|
1.17 |
4.16 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Trade Payable |
74.575 |
22.581 |
16.214 |
|
|
|
|
|
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
GENERAL REVIEW
During the year the company has performed satisfactorily. The market for the products the company is dealing in is still vers' competitive but there are opportunities for growth. The directors are trying to increase the sale turnover further by introducing newer products so that the fixed overheads are spread over a larger volume and the profitability can be improved.
UNSECURED LOANS
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
Short Term
Borrowings |
|
|
|
Loans repayable
on demand From others |
6.276 |
7.876 |
|
Loans and advances from related parties |
1.475 |
1.475 |
|
Total |
7.751 |
9.351
|
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U30007MH1990PTC059333 |
|
Name of the
company |
SANGHVI
ELECTRONICS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Shop No. 7, 23/B Purshottam Building, Tribhuvan Road Cross, Lamington
Road, Mumbai-400004, Maharashtra, India E-mail: ronak2000@vsnl.net |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10223557 |
|
Type of charge |
Book debts Movable property (not being pledge) |
|
Particular of
charge holder |
Indian Overseas Bank, Breach Candy Branch, 65/67, Mazda Mansion, Bhulabhai
Desai Road, Breach Candy, Mumbai – 400026, Maharashtra, India E-mail: breachbr@mummsco.iob.net.co.in
|
|
Nature of
instrument creating charge |
Letter of Hypothecation
in Form-110E dated 05.04.2013. |
|
Date of
instrument Creating the charge |
05.04.2013 |
|
Amount secured by
the charge |
Rs. 110.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest For Cash Credit :
@ Base Rate + 4.25% p.a. For Letter of
Guarantee : Commission as per CO circulars. Terms of Repayment Repayable on
demand. Margin Cash Credit : 25%
on Stocks and 40% on Book Debts. Letter of
Guarantee : 25% Extent and Operation of the charge The charge is to
operate as security, by way of first exclusive charge, for the due repayment
of credit facilities aggregating to Rs.110.000 millions together with
interests, additional interests, costs, charges, expenses and all other
moneys payable by the Company to the Bank in terms of sanction. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation, by
way of first exclusive charge, of all the Company's : a)
Stocks
of Computer peripherals, Laptops / hard disc etc. lying in the premises /
godown's of the company. b)
Book
debts, receivable and all other moneys which are due and owing to the Company
from time to time. |
|
Date of
instrument modifying the charge |
05.04.2013 |
|
Particulars of
the present modification |
The amount
secured by the charge has been enhanced from Rs.90.000 millions to Rs.110.000
millions as detailed below : Facilities Limit (Rs. in millions) Existing Revised ------------ ---------- ----------- Cash Credit 90.000 90.000 Letter of
Gtee. NIL 20.000 ----------- ----------- Total 90.000 110.000 ======= ======= |
FIXED ASSETS
· Computer
Plant
and Machinery
Office
Equipment
Motor
Car
Scooter
Bycycle
Furniture
and Fixture
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.60.59 |
|
|
1 |
Rs.92.92 |
|
Euro |
1 |
Rs.78.94 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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 |
|
2-6-40 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.