1. Summary Information
|
|
|
Country |
India |
|
Company Name |
SRMB SRIJAN LIMITED |
Principal Name 1 |
Mr. Nikunj Beriwala |
|
Status |
Moderate |
Principal Name 2 |
Mr. Brij Mohan Beriwala |
|
|
|
Registration # |
21-093969 |
|
Street Address |
7, Khetra Das Lane, Kolkata – 700012, West Bengal |
||
|
Established Date |
28.11.2001 |
SIC Code |
-- |
|
Telephone# |
91-33-40090000 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-33-22113636 |
Business Style 2 |
Trader |
|
Homepage |
Product Name 1 |
Iron |
|
|
# of employees |
Not Available |
Product Name 2 |
Steel |
|
Paid up capital |
Rs. 212,100,000 |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate 62%, Directors or relatives of directors 38% |
Banking |
Allahabad Bank |
|
Public Limited Corp. |
No |
Business Period |
12 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (36) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Related
Party |
-- |
Bhaskar Steel and Ferro Alloy Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
2,367,349,000 |
Current Liabilities |
1,055,243,000 |
|
Inventories |
403,344,000 |
Long-term Liabilities |
1,658,072,000 |
|
Fixed Assets |
698,842,000 |
Other Liabilities |
95,170,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
2,808,485,000 |
|
Invest& other Assets |
148,709,000 |
Retained Earnings |
597,659,000 |
|
|
|
Net Worth |
809,759,000 |
|
Total Assets |
3,618,244,000 |
Total Liab. & Equity |
3,618,244,000 |
|
Total Assets (Previous Year) |
2,791,178,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
5,387,794,000 |
Net Profit |
34,496,000 |
|
Sales(Previous yr) |
4,484,884,000 |
Net Profit(Prev.yr) |
49,381,000 |
MIRA
INFORM REPORT
|
Report Date : |
05.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
SRMB SRIJAN LIMITED [w.e.f.07.09.2007] |
|
|
|
|
Formerly Known
As : |
SRMB SRIJAN PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
7, Khetra Das Lane, Kolkata – 700012, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
28.11.2001 |
|
|
|
|
Com. Reg. No.: |
21-093969 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 212.100 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74994WB2001PLC093969 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCS0616C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Iron and Steel Goods. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 3240000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The
profitability of the company appears to be low. The external borrowing seems to be increasing over a year. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with slight
caution. |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank : (CARE) BBB- |
|
Rating Explanation |
Having moderate degree of safety regarding
timely servicing of financial obligation it carry moderate credit risk. |
|
Date |
April 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.
LOCATIONS
|
Registered/ Head Office : |
7, Khetra Das Lane, Kolkata – 700012, West Bengal, India |
|
Tel. No.: |
91-33-40090000/ 66006600/ 66006700 |
|
Fax No.: |
91-33-22113636/ 0483 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Works 1 : |
Sagar Bhanga, Gopinathpur, P.S. Cokeoven, Durgapu, Burdwan, West Bengal, India |
|
Tel. No.: |
91-343-2559205/ 6450877/ 6450788 |
|
Fax No.: |
91-343-2559206 |
|
|
|
|
Works 2 : |
Village - Kharial, P.O - Dankuni, District Hooghly, West
Bengal, India |
|
Tel. No.: |
91-33-26595300 |
DIRECTORS
AS ON 22.09.2012
|
Name : |
Mr. Nikunj Beriwala |
|
Designation : |
Whole-time director |
|
Address : |
DA-85, Saltlake City, Bidhan Nagar, 24 Paraganas-North 700064, West
Bengal, India |
|
Date of Birth/Age : |
24.05.1976 |
|
Qualification : |
B.Com (Hons) |
|
Date of Appointment : |
28.11.2001 |
|
PAN No.: |
ADXPB3413C |
|
DIN No.: |
00789070 |
|
|
|
|
Name : |
Mr. Brij Mohan Beriwala |
|
Designation : |
Whole-time director |
|
Address : |
CD-45, Saltlake City, Sector I, Kolkata – 700064, West Bengal, India |
|
Date of Birth/Age : |
13.08.1955 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
28.11.2001 |
|
PAN No.: |
ADXPB6832H |
|
DIN No.: |
00789188 |
|
|
|
|
Name : |
Mr. Ashish Beriwala |
|
Designation : |
Whole-time director |
|
Address : |
CD-45, Saltlake City, Sector I, Kolkata – 700064, West Bengal, India |
|
Date of Birth/Age : |
14.04.1978 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
28.11.2001 |
|
PAN No.: |
AEFPB2623F |
|
DIN No.: |
00789227 |
KEY EXECUTIVES
|
Name : |
Mr. Kaushik Sonee |
|
Designation : |
Secretary |
|
Address : |
Sonee House, 21 Sarkar Byelane, Kolkata – 700007, West Bengal, India |
|
Date of Birth/Age : |
16.12.1978 |
|
Date of Appointment : |
01.07.2009 |
|
PAN No.: |
AUFPS6239J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 22.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Draupadi Beriwala |
|
100000 |
|
Radhakrishna Brijmohan Beriwala HUF |
|
1000000 |
|
Brijmohan Beriwala |
|
1030700 |
|
Brijmohan Beriwala and Harimohan Beriwala |
|
760000 |
|
Brijmohan Beriwala HUF |
|
530700 |
|
Brijmohan Beriwala and Suman Beriwala |
|
800 |
|
Suman Beriwala |
|
753800 |
|
Nikunj Beriwala |
|
553800 |
|
Nikunj Beriwala HUF |
|
707600 |
|
Sweta Beriwala |
|
707600 |
|
Ashish Beriwala |
|
713800 |
|
Ashish Beriwala HUF |
|
200 |
|
Kirti Beriwala |
|
1080000 |
|
Brijata Bhuwaika |
|
200 |
|
Welkan Vinimay Private Limited, India |
|
5500000 |
|
Vidushi Properties Private Limited |
|
7770000 |
|
Harimohan Beriwala and Manju Beriwala |
|
800 |
|
|
|
|
|
Total |
|
21210000 |
AS ON 22.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
62.00 |
|
Directors
or relatives of directors |
|
38.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Iron and Steel Goods. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
v The South Indian
Bank Limited, G C Avenue Branch, 38 Ganesh Chandra Avenue, First Floor,
Kolkata - 700013, West Bengal, India v Allahabad Bank,
Industrial Finance Branch, 17, R. N. Mukherjee Road, 4th Floor, Kolkata -
700001, West Bengal, India v Oriental Bank of
Commerce v State Bank of
India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M Satnaliwala
and Company Chartered Accountants |
|
Address : |
62, Bentinck
Street, Kolkata, West Bengal, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAFFM3516N |
|
|
|
|
Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their
relatives : |
Bhaskar Steel
and Ferro Alloy Limited [U27109WB2003PLC096899] |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 240.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21,210,000 |
Equity Shares |
Rs. 10/- each |
Rs. 212.100
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
212.100 |
212.100 |
212.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
597.659 |
563.163 |
513.782 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
809.759 |
775.263 |
725.882 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1658.072 |
1479.248 |
649.188 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1658.072 |
1479.248 |
649.188 |
|
|
DEFERRED TAX LIABILITIES |
84.612 |
69.280 |
59.670 |
|
|
|
|
|
|
|
|
TOTAL |
2552.443 |
2323.791 |
1434.740 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
698.842 |
602.786 |
602.504 |
|
|
Capital work-in-progress |
9.021 |
89.977 |
6.974 |
|
|
|
|
|
|
|
|
INVESTMENT |
139.688 |
139.688 |
0.100 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
403.344
|
355.230 |
409.086 |
|
|
Sundry Debtors |
1423.863
|
1102.924 |
649.995 |
|
|
Cash & Bank Balances |
70.613
|
120.959 |
44.433 |
|
|
Other Current Assets |
19.044
|
19.004 |
73.684 |
|
|
Loans & Advances |
853.829
|
360.610 |
168.699 |
|
Total
Current Assets |
2770.693
|
1958.727 |
1345.897 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
582.884
|
357.876 |
13.736 |
|
|
Other Current Liabilities |
472.359
|
103.834 |
469.148 |
|
|
Provisions |
10.558
|
5.677 |
37.851 |
|
Total
Current Liabilities |
1065.801
|
467.387 |
520.735 |
|
|
Net Current Assets |
1704.892
|
1491.340 |
825.162 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2552.443 |
2323.791 |
1434.740 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operation |
5387.794 |
4484.884 |
5932.752 |
|
|
|
Other Income |
10.276 |
8.340 |
24.504 |
|
|
|
TOTAL (A) |
5398.070 |
4493.224 |
5957.256 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
3451.080 |
1657.522 |
|
|
|
|
Purchases of stock-in-trade |
1056.863 |
2008.486 |
|
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(54.537) |
58.476 |
|
|
|
|
Employee benefit
expense |
101.016 |
93.464 |
|
|
|
|
Other expenses |
485.368 |
444.097 |
|
|
|
|
Prior period
items |
(0.451) |
(0.198) |
|
|
|
|
TOTAL (B) |
5039.339 |
4261.847 |
5791.740 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
358.731 |
231.377 |
165.516 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
257.665 |
123.890 |
54.981 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
101.066 |
107.487 |
110.535 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
38.356 |
32.698 |
33.597 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
62.710 |
74.789 |
76.938 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
28.214 |
25.408 |
21.161 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
34.496 |
49.381 |
55.777 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
147.963 |
98.582 |
128.926 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
71.814 |
|
|
|
Dividend |
0.000 |
0.000 |
10.605 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
1.802 |
|
|
BALANCE CARRIED TO
THE B/S |
182.459 |
147.963 |
98.582 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.63 |
2.33 |
2.58 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.64
|
1.10 |
0.94 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.16
|
1.67 |
1.30 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.81
|
2.92 |
3.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.10 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.05
|
1.91 |
0.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.60
|
4.19 |
2.58 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
PERFORMANCE
During the
financial year 2011-12 both, production and sales has increased over the year.
The production during the year ended 31.03.2012 has increased to 1,15,748 MT as
against the previous year production of 79,518 MT i.e., an increase of 45.56 %
over the last years production mainly due to more efficient utilization of the
installed capacity of the unit at Durgapur. Consequently, the Gross Turnover of
the Company during the year ended 31.03.12 has also increased to Rs.5804.837
Millions as against the previous year gross turnover of Rs.4724.545 Millions
which is due to the reason stated above. Here, it shall also be worthwhile to
mention the fact that the modernization helps the Company in long term by
increasing efficiency, effectiveness and productivity of the Business. It also
helps the Company in minimizing cost and upgradation of new and improved
technology.
MODERNISATION, UPCOMING PROJECTS AND GROWTH PLANS
UNDERWAY
The company
continues its journey to deliver value for customers and all the shareholders
of the company by improving its performance in safety, quality, productivity,
environment and people development through innovation and knowledge
transmission
a) Modernisation
The management of
the Company has modernized the Unit-1 of Durgapur Factory with the new concept
of Block Mill in Eastern Region of the Country. This has enabled to enhance the
utilization of the installed capacity of the unit at Durgapur by balancing the
imbalances in the plant.
b) Upcoming Project at Barjora, West Bengal
The management of
the Company has future expansion plans by way of Barjora Unitto be located at
Vill & PO : Barjora, Bankura, West Bengal, having backward integrated facility
by setting up of manufacturing facilities for billets alongwith a rolling mill.
The said plant will be poised with installed capacity of manufacturing 4,00,000
MT/p.a. of billets and 40,000 MT/p.a. of ferro alloys. The project shall
commence upon receipt of Pollution Clearance awaited from the government
authorities the application for which is under pipeline and expected shortly.
c) Growth Plans Underway
Strategic Takeover
The management of
the Company along with it’s promoters and other group Companies has acquired
Bhaskar Steel & Ferro Alloy Limited in the year 2010, by way of 100%
acquisition of it’s entire equity shares which was a step towards backward
integration. Bhaskar Steel & Ferro Alloy Ltd. is engaged in the business of
manufacturing and selling of Sponge Iron and Billets and has 81.40 Acres
(approx.) of land with a Sponge Iron Plant (Installed Capacity of 105000 TPA),
Steel Melting Shop & a Two-strand Caster (Installed Capacity of 105600 TPA)
and 12 MW Power Plant (4 MW–AFBC & 8 MW–WHRB) located at Badtumkela, Sub
Div: Bonai, Rajamunda, Dist: Sundargarh, Orissa. The Authorized Share Capital
of the Company is Rs.400,000,000/- divided into 40,000,000 equity shares of
Rs.10/- each and the total Issued, Subscribed and Paid up Share Capital of the
Company is Rs.335,028,370/- divided into 33,502,837 Equity Shares of Rs.10/-
each. After takeover, the management has done drastic refurbishment of the
plant by way of installation / replacement of new machineries and equipments
and optimized the production which has increased the profitability.
Zinga Business
The company has
taken up an initiative to fight against Corrosion, the world wide problem. The
solution to this world wide problem is ZINGA which is 30 years old trusted,
globally accepted corrosion prevention technology. The Company has already
entered into an exclusive tie-up with M/s. Zinga Metall, BvBA Belgium and
launched Zinga coated steel in the Indian Markets with the brand name SRMB
AZAR. This has given unique distinction to the company to be the only
manufacturer of such quality of TMT bars in India and the Indian sub continent.
The product has already gained approvals from leading institutions like MES,
IRC, PGCIL, BRO , state PWD's etc. his
initiative is
expected to yield significant benefit to the company in future.
Franchise Business
The Company’s
BRAND “SRMB” , “RODS n Bars” has been gaining good customer acceptance and
enjoys strong recall in various parts of EASTERN INDIA amongst the important
segment of IHB's, Masons, Structural engineers etc. The marketing programs and
best practices of the company has been path breaking and appreciated by the
industry and customers alike. The company has now in the effort to gain market
share, has started entering into franchise agreements with quality local mills
in different states which do not have marketing and brand infrastructure. The
company has granted the other party the right to use the Licensed Trademark
“SRMB” strictly for channel/retail sales marketing purposes and the requisite
technical and marketing infrastructure has been set up in these branches to
provide same level of “SRMB” quality and service in each branch. These business
iniatives will enhance brand value by covering larger geographical terrain of
the country along with increase revenue opportunities for the company. The
Company has already started this mode of business in the state of Assam in
North Eastern part of the Country and in the state of Karnataka in southern
region of the country. These operations have been fairly successful and there
is further plan to expand it in the states of Andhra Pradesh and Odisha in the
next financial year.
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. 55.05 |
|
|
1 |
Rs. 82.75 |
|
Euro |
1 |
Rs. 71.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
36 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.