MIRA INFORM REPORT
|
Report Date : |
21.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
CONROS STEELS PRIVATE LIMITED |
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Registered
Office : |
44 A, Dheeraj Heritage, Second Floor, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
11.01.2005 |
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Com. Reg. No.: |
11-150550 |
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Capital
Investment / Paid-up Capital : |
Rs.71.879
Millions |
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CIN No.: [Company Identification
No.] |
U51420MH2005PTC150550 |
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IEC No.: |
0304083917 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC13464D |
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PAN No.: [Permanent Account No.] |
AACCC5103B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of galvanized pipes, etc. |
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No. of Employees
: |
300 (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 |
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Maximum Credit Limit : |
USD 4160000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The
management of the company has failed to file its financials with the
government department for the year 2012. As per previous year’s record, the subject is found normal for
business dealings. However, in absence of latest financials, the payment terms are
unknown. Business is active. 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.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country’s growth, which has averaged more than 7% per
year since 1997. India’s diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India’s output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis – in large part because of strong domestic demand – and growth
exceeded 8% year-on-year in real terms. However, India’s economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government’s fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India’s medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Working Capital and Term loan facility: D |
|
Rating Explanation |
Default (Suspended) |
|
Date |
January 23, 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 DECLINED BY
|
Name : |
Mr. Mudit |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-26615454 |
|
Date : |
19.03.2013 |
LOCATIONS
|
Registered Office : |
44 A, Dheeraj Heritage, Second Floor, S V Road, Santacruz (West), Mumbai-400054,
Maharashtra, India |
|
Tel. No.: |
91-22-26615454 |
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Fax No.: |
91-22-26605454 |
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E-Mail : |
kalpesh@conros-group.com
sanjay@conros-group.com |
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Website : |
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Area: |
Owned |
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|
Factory : |
Survey No. 26. 27, 28 and 12, Ajiwali Phata, Village Vanavathe,
Khopoli Pen Road, Taluka- Khalapur, District Raigad – 410202, Maharashtra,
India |
|
Tel. No.: |
91-2192-278574/ 382 |
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Fax No.: |
91-2192-278346 |
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E-Mail : |
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Area: |
Owned |
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Texas , USA : |
Conros Americas, LLC. One Riverway, Suite 1700 Houston, TX. 77056 |
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Tel No.: |
(713) -840-6334 |
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Fax No.: |
(713) -300-3764 |
DIRECTORS
As on 11.07.2011
|
Name : |
Mr. Shehzad Shabbirali
Hemani |
|
Designation : |
Director |
|
Address : |
8 B, Chand Terraces, St. Andrews Road, Bandra, Mumbai – 400050, Maharashtra,
India |
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Date of Birth/Age : |
21.08.1979 |
|
Qualification : |
B.Com, MBA |
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Date of Appointment : |
11.01.2005 |
|
DIN No.: |
00206558 |
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|
|
|
Name : |
Mr. Porus Pervez Buhariwala |
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Designation : |
Director |
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Address : |
8 B, Chand Terraces, St. Andrews Road, Bandra, Mumbai – 400050, Maharashtra,
India |
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Date of Birth/Age : |
27.08.1979 |
|
Qualification : |
B.Com., MBA |
|
Date of Appointment : |
17.03.2006 |
|
DIN No.: |
00162019 |
KEY EXECUTIVES
|
Name : |
Mr. Mudit |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 11.07.2011
|
Names of Shareholders |
|
No. of Shares |
|
Shehzad S Hemani |
|
6480562 |
|
Shaheen Z Babul |
|
707383 |
|
Total |
|
7187945 |
Equity Share Break up (Percentage of Total Equity)
As on 11.07.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of galvanized pipes, etc. |
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Products : |
· Water, Gas and Air Pipelines · Black and Zinc Coated Pipes · Black Steel Pipes · Fence Tube · Welded Steel Tubes |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
300 (Approximately) |
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Bankers : |
· State Bank of India, Commercial Branch, Bullet, Lakhamshi Nappu Road, Opposite Raje Sivaji Vidyalaya, Dadar (East), Mumbai-400014, Maharashtra, India · State Bank of India, MID Corporate Loan Administration Unit, Shri Hari Building, RTO Lane, Four Bungalows, Andheri (West), Mumbai-400053, Maharashtra, India
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Arun Kumar Shah and Company Chartered Accountants |
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Address : |
B/14, Diamond Twins CHS, S.V. Road, Poisar, Kandivali (West),
Mumbai-400067, Maharashtra, India |
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Tel. No.: |
91-22-28058993 |
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PAN.: |
AAIPS0205R |
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Group Companies : (As On 31.03.2008) |
· Mashreq Steel Industries Private Limited Address: 2-44, Dheeraj Heritage, Line of Business: Manufacturer
of Black ERW Steel Tubes and Pipes |
CAPITAL STRUCTURE
After 11.07.2011
Authorised Capital : Rs. 110.000
Millions
Issued, Subscribed & Paid-up Capital : Rs. 90.629 Millions
As on 11.07.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
11000000 |
Equity Shares |
Rs.10/- each |
Rs.110.000 Millions |
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|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7187945 |
Equity Shares |
Rs.10/- each |
Rs.71.879
Millions |
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|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
71.879 |
71.879 |
|
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2] Share Application Money |
|
100.000 |
0.000 |
|
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3] Reserves & Surplus |
|
868.764 |
713.465 |
|
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
1040.643 |
785.344 |
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LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
|
1263.120 |
500.776 |
|
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2] Unsecured Loans |
|
200.115 |
5.615 |
|
|
TOTAL BORROWING |
|
1463.235 |
506.391 |
|
|
DEFERRED TAX LIABILITIES |
|
6.167 |
6.665 |
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|
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TOTAL |
|
2510.045 |
1298.400 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
188.784 |
207.260 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.100 |
0.100 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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Inventories |
|
1961.763 |
1692.126 |
|
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Sundry Debtors |
|
1095.184 |
587.225 |
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Cash & Bank Balances |
|
212.952 |
168.609 |
|
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
254.301 |
0.000 |
|
Total
Current Assets |
|
3524.200 |
2447.960 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
2032.691 |
0.000 |
|
|
Other Current Liabilities |
|
0.722 |
1281.135 |
|
|
Provisions |
|
89.373 |
146.040 |
|
Total
Current Liabilities |
|
2122.786 |
1427.175 |
|
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Net Current Assets |
|
1401.414 |
1020.785 |
|
|
|
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MISCELLANEOUS EXPENSES |
|
0.064 |
19.025 |
|
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OTHER ASSETS |
|
919.683 |
51.230 |
|
|
|
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|
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TOTAL |
|
2510.045 |
1298.400 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
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SALES |
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Income |
|
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Other Income |
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TOTAL (A) |
|
5801.300 |
4536.800 |
|
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/ (Decrease) in Inventory |
|
(269.600) |
(845.000) |
|
|
|
Material and Manufacturing Cost |
|
5468.800 |
4966.400 |
|
|
|
Administrative Expenses |
|
41.700 |
43.600 |
|
|
|
Selling and Distribution |
|
55.400 |
60.300 |
|
|
|
Preliminary Expenses |
|
0.000 |
0.100 |
|
|
|
TOTAL (B) |
|
5296.300 |
4225.400 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
505.000 |
311.400 |
|
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|
|
|
|
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Less |
FINANCIAL
EXPENSES (D) |
|
282.600 |
121.800 |
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
222.400 |
189.600 |
|
|
|
|
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|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
28.600 |
33.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
193.800 |
155.800 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
38.500 |
54.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
|
155.300 |
101.200 |
|
|
|
|
|
|
|
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|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
310.400 |
220.100 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
465.700 |
321.300 |
|
|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
3182.500 |
1883.200 |
|
|
|
|
|
|
|
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|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
2214.300 |
2413.700 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
21.61 |
14.45 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
2.67 |
2.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
5.22 |
5.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.19 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
1.41 |
0.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.66 |
1.72 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
(Rs. in Millions)
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
Creditors due
small micro enterprises |
|
0.000 |
0.000 |
|
Creditors due
others |
|
2032.691 |
0.000 |
|
Total |
|
2032.691 |
0.000 |
|
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
two years |
Yes |
|
12] |
Profitability for last
two 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) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN
|
Unsecured Loan |
As
on 31.03.2011 (Rs.
in Millions) |
As
on 31.03.2010 (Rs.
in Millions) |
|
Loans directors unsecured |
200.115 |
5.615 |
|
Total |
200.115 |
5.615 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U51420MH2005PTC150550 |
|
Name of the
company |
CONROS STEELS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
44 A, Dheeraj Heritage, Second Floor, S V Road, Santacruz (West),
Mumbai-400054, Maharashtra, India Email : secretarial@conros-group.com
|
|
This form is for |
Creation of
charge |
|
Type of charge |
|
|
Particular of charge
holder |
Export Import
Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuff Parade, Mumbai-400005, Maharashtra, India Email : cbg@eximbankindia.in
|
|
Nature of instrument
creating charge |
Deed of
Hypothecation dated 05.12.2011, a copy attached hereto, executed by Conros
Steels Private Limited (Company) in favour of Export-Import Bank of India
(Exim Bank) for its facility of Rs.200.000 Millions |
|
Date of instrument
Creating the charge |
05.12.2011 |
|
Amount secured by
the charge |
Rs.200.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 12.00% p.a. + 2%p.a.
over and above the applicable rate payable in case of default in payment of
principal, interest or any other monies on respective due dates, subject to
reset Terms of
Repayment To be liquidated
out of export proceeds or within 180 days from the date of disbursement,
whichever is earlier Margin Nil Extent and
Operation of the charge The Charge shall
operate as a first pari-passu charge on entire current assets of the Company
both present and future including receivables being financed out of EXIM
bank's credit facility and as a second pari-passu charge over the entire
fixed assets of the Company including immoveable properties both present and
future |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First pari passu
charge on the entire current assets of the Company both, present and future
including receivables being financed out of Exim Bank's Pre-Post Shipment
Credit Facility Second pari passu
charge on the entire fixed assets of the Company, both present and future |
Fixed Assets
·
Land
·
Office Premises
·
Furniture and Fixtures
·
Motor Car
·
Computer
·
Office Equipments
·
·
Plant and Machinery
·
Electrical Installation
PRESS RELEASE
CONROS
CONTINUES QUALITY COMMITMENT ACHIEVING ISO 9001:2008 CERTIFICATION
Mumbai, India – December 15, 2009: Conros
Steels Private Limited, a specialist manufacturer of Black and Galvanized ERW
Steel Pipes and Tubes, furthering its commitment to Quality Management has
successfully implemented a quality management system in conformance with the
stringent requirements of ISO 9001:2008. The certification demonstrates that
the manufacturing and commercial procedures of Conros Steels are in accordance
with the high standards set by ISO.
The ISO 9001:2008 Quality Management Certification presents suppliers,
customers and end-users a guarantee that Conros Steels has a well established
quality management system which has been documented, audited and approved
independently.
The manufacturing systems and facility of Conros Steels located at Khopoli,
Maharashtra along with systems at the corporate office located at Mumbai,
Maharashtra was independently audited by UL DQS Inc. in November 2009. UL DQS
Inc. has now certified the company as conforming to the quality management
standards of ISO 9001:2008 and accredited by ANAB (American National
Accreditation Board) and UKAS (United Kingdom Accreditation Service).
“We are in an industry where the quality standards of the products are of
critical importance to the customers. Conros has ambitious plans for the future
and is committed to grow sustainably. This certification confirms our
commitment to quality management and in turn to our customers. For us, growth
means furthering our commitments and increasing customer satisfaction”, says
Mr. Shehzad Hemani, Chairman & Managing Director of the Conros Group. The
products of Conros Steels already conform to various Indian and International
standards like BS, EN, DIN, ASTM, IS among others. “With the addition of ISO
9001:2008, we now have a benchmark to take our Quality further, and will soon
be implementing programs like UL Listing, CE Marking as per CPD and PED.”
CONROS GROUP LAUNCHES AN ALL NEW WEBSITE DESIGN
24TH JUNE 2009
Conros Steels Private Limited, (www.conros-group.com) one of the major player in manufacturing and exports of steel pipes and tubes is live on the Internet with a new design and website structure. With new look of the website; Conros believes it will increase its site's readability and efficacy for professionals.
Among the new features, a search engine helps you to find pages from the keywords which you are looking for.
Announcing the launch of the website, Shehzad Hemani, Managing Director said, “Our new website design is more indicative of the current range of products we offer to our clients. Since we mostly do business with companies based abroad, primarily in Unites States, United Kingdom, Germany and Middle East, we wanted to make our website as per international standards. I feel we have managed to accomplish that fairly well in the new design.”
The ground-up redesign of www.conros-group.com provides its users with an improved experience, featuring search engine, better product page structure, latest format of image gallery, company's global offices in map view and latest news from industry. The new site's simple and intuitive structure offers visitors the time-saving opportunity to browse the website with minimal confusion and head-scratching.
We believe this newly designed interface better reflects our company image and future direction. Furthermore, it offers our customers easier site navigation, while extending the content and features expected from today's internet users.
About Conros Steel Private Limited
Conros Steels Private Limited is the flagship company of the privately owned Conros Group . The corporate office of the company is located at Mumbai and the steel mill is located at Khopoli, Maharashtra. Conros produces Black & Galvanized ERW Steel Pipes & Tubes, hollow sections and structural steel that are extensively used in major engineering and construction projects. The group caters to the domestic Indian markets as well as the overseas export markets.
CONROS GROUP EXPANDS CAPACITIES
2ND MARCH 2009
In Q3, 2009, India’s Conros Group is planning to triple its pipe-making
capacity by installing new equipment with combined capacity 200,000tpy. Thus,
in August 2009 it plans to commission a new ERW pipe mill No.3 (60,000tpy), to
produce pipes in diameters 21.3-114.3mm. The equipment is being supplied by
German SMS Meer. Next, in mid-September, it plans to launch mill No.4, to
produce 140,000tpy of ERW pipes under the API standard, in diameters up to
219.1mm, of up to X52 strength class steel. The mill was ordered from Abbey
Etna (USA).
At this moment, the feedstock for pipe-making operations is being supplied by
steel facilities of Arcelor Mittal Europe, by CIS and Middle Eastern
steelmakers, as well as local Ispat Industries and Essar Steel. After start-up
of the new mills, the feedstock purchases will be increased.
Apart from the two ERW pipe mills (100,00tpy in total), Conros Group is
presently operating a 120,000tpy steelmaking shop and bar-rolling mill of the
same capacity. The company’s product range is comprised of 21.3-168.3mm ERW
pipes with wall thickness 2.03-10.31mm, including galvanized ones, and also
angles, flat bars and channels. According to the company representative, due to
the low demand on domestic and export markets, the Conros Group is cutting the
products output in the current quarter by 50%.
The company exports some 80% of its pipes. The main export destinations are EU,
Middle Eastern countries and Australia.
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.54.38. |
|
|
1 |
Rs.82.07 |
|
Euro |
1 |
Rs.70.04 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--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.