|
Report Date : |
06.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
HARSHA ABAKUS SOLAR PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 427/431, Moraiya Farm, Sarkhej-Bavla Road, P.O.Changodar,
Ahmedabad-382213, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
11.12.2010 |
|
|
|
|
Com. Reg. No.: |
04-063233 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 7.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29307GJ2010PTC063233 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMH03612A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is a turnkey solution provider in the field of solar photovoltaic energy. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 73000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
Trade relations are reported to be fair. Business is active. Payments are reported
to be usually correct and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 Office : |
Plot No. 427/431, Moraiya Farm, Sarkhej-Bavla Road, P.O.Changodar,
Ahmedabad- 382213, Gujarat, India |
|
Tel. No.: |
91- 2717-391200 |
|
Fax No.: |
91- 2717-391259 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Sarkhej-Bavla Road, P.O. Changodar, Ahmedabad-382213, Gujarat, India |
|
Tel. No.: |
91-2717-391200 |
|
Fax No.: |
91-2717-391259 |
|
E-Mail : |
|
|
Area : |
58.5 sq. mts. |
|
Location : |
Rented |
DIRECTORS
AS ON 01.08.2012
|
Name : |
Mr. Harish Ranjit Rangwala |
|
Designation : |
Director |
|
Address : |
10, Nishant II, Satellite Road, Ahmedabad-380015, Gujarat, India |
|
Date of Birth/Age : |
01.08.1948 |
|
Date of Appointment : |
11.12.2010 |
|
DIN No.: |
00278062 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29259GJ1986PLC008520 |
HARSHA
ENGINEERS LIMITED |
Managing
director |
18-06-12 |
04-03-86 |
Active |
NO |
|
2 |
L33121GJ1994PLC022460 |
TRANSFORMERS
AND RECTIFIERS (INDIA) LIMITED |
Director |
25-08-05 |
25-08-05 |
Active |
NO |
|
3 |
U35303GJ2008PTC054503 |
HARSHA
ENGINEERS (INDIA) PRIVATE LIMITED |
Director |
17-07-08 |
17-07-08 |
Active |
NO |
|
4 |
U29307GJ2010PTC063233 |
HARSHA
ABAKUS SOLAR PRIVATE LIMITED |
Director |
11-12-10 |
11-12-10 |
Active |
NO |
|
5 |
U40106GJ2012PTC072800 |
HARSHA
RENEWABLE ENERGY PRIVATE LIMITED |
Director |
26-11-12 |
26-11-12 |
Active |
NO |
|
Name : |
Mr. Munjal Rangwala |
|
Designation : |
Director |
|
Address : |
10, Nishant II, Satellite Road, Ahmedabad-380015, Gujarat, India |
|
Date of Birth/Age : |
26.09.1981 |
|
Date of Appointment : |
11.12.2010 |
|
DIN No.: |
03033699 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29259GJ1986PLC008520 |
HARSHA
ENGINEERS LIMITED |
Whole-time
director |
21-06-10 |
01-04-10 |
Active |
NO |
|
2 |
U29307GJ2010PTC063233 |
HARSHA
ABAKUS SOLAR PRIVATE LIMITED |
Whole-time
director |
01-08-12 |
11-12-10 |
Active |
NO |
|
3 |
U40106GJ2012PTC072800 |
HARSHA
RENEWABLE ENERGY PRIVATE LIMITED |
Director |
26-11-12 |
26-11-12 |
Active |
NO |
|
Name : |
Mr. Rajendra Shantilal Shah |
|
Designation : |
Additional director |
|
Address : |
289-C, Manekbaug Society, Ambawadi, Ahmedabad-380015, Gujarat, India |
|
Date of Birth/Age : |
01.02.1948 |
|
Date of Appointment : |
06.05.2011 |
|
DIN No.: |
00061922 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29259GJ1986PLC008520 |
HARSHA
ENGINEERS LIMITED |
Managing
director |
18-06-12 |
04-03-86 |
Active |
NO |
|
2 |
L29259GJ1991PLC015182 |
AIA
ENGINEERING LIMITED |
Director |
15-03-05 |
15-03-05 |
Active |
NO |
|
3 |
L33121GJ1994PLC022460 |
TRANSFORMERS
AND RECTIFIERS (INDIA) LIMITED |
Director |
25-08-05 |
25-08-05 |
Active |
NO |
|
4 |
L27104KA1972PLC002163 |
WELCAST
STEELS LIMITED |
Director |
20-09-07 |
23-05-07 |
Active |
NO |
|
5 |
U35303GJ2008PTC054503 |
HARSHA
ENGINEERS (INDIA) PRIVATE LIMITED |
Director |
17-07-08 |
17-07-08 |
Active |
NO |
|
6 |
L27100GJ1993PLC020552 |
SHILP
GRAVURES LIMITED |
Director |
08-08-09 |
30-07-08 |
Active |
NO |
|
7 |
U29307GJ2010PTC063233 |
HARSHA
ABAKUS SOLAR PRIVATE LIMITED |
Director |
12-07-11 |
06-05-11 |
Active |
NO |
|
8 |
U40106GJ2012PTC072800 |
HARSHA
RENEWABLE ENERGY PRIVATE LIMITED |
Director |
26-11-12 |
26-11-12 |
Active |
NO |
|
Name : |
Mr. Thomas Siegfried Sandner |
|
Designation : |
Additional director |
|
Address : |
Uhlandstrasse 13, Sankt Augstin, Ort D-53757, Sankt Augstin 53757 |
|
Date of Birth/Age : |
02.07.1966 |
|
Date of Appointment : |
06.05.2011 |
|
DIN No.: |
03450835 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29307GJ2010PTC063233 |
HARSHA
ABAKUS SOLAR PRIVATE LIMITED |
Director |
12-07-11 |
06-05-11 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 01.08.2012
|
Names of Shareholders |
No. of Shares |
|
Harsha Engineers Limited, India |
569998 |
|
Harish Rangwala (Nominee of Harsha Engineers Limited) |
1 |
|
Rajendra Shah (Nominee of Harsha Engineers Limited) |
1 |
|
Abakus Solar AG, Germany |
180000 |
|
TOTAL
|
750000 |
AS ON 01.08.2012
|
Equity Shares
Break Up |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
24.00 |
|
Bodies corporate |
76.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is a turnkey solution provider in the field
of solar photovoltaic energy. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel
(West), Mumbai-400013, Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountant |
|
Address : |
3rd Floor, Heritage, Near Gujarat Vidyapith,
Ahmedabad-380014, Gujarat, India |
|
PAN No.: |
AABFD7919A |
|
|
|
|
Holding Company : |
Harsha Engineers Limited CIN No.:- U29259GJ1986PLC008520 |
|
|
|
|
Related Parties : |
Abacus Solar AG |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs. 15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.10/- each |
Rs. 7.500
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
7.500 |
7.500 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
10.980 |
6.412 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
18.480 |
13.912 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
5.277 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
5.277 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
23.757 |
13.912 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1.545 |
0.069 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
|
0.105 |
0.020 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
8.430 |
0.000 |
|
|
Sundry Debtors |
|
27.341 |
0.128 |
|
|
Cash & Bank Balances |
|
3.881 |
24.054 |
|
|
Other Current Assets |
|
2.685 |
0.226 |
|
|
Loans & Advances |
|
0.554 |
9.406 |
|
Total
Current Assets |
|
42.891 |
33.814 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
17.904 |
0.338 |
|
|
Other Current Liabilities |
|
2.675 |
19.593 |
|
|
Provisions |
|
0.205 |
0.060 |
|
Total
Current Liabilities |
|
20.784 |
19.991 |
|
|
Net Current Assets |
|
22.107 |
13.823 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
23.757 |
13.912 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
176.211 |
0.000 |
|
|
|
Other Income |
|
1.326 |
0.000 |
|
|
|
TOTAL (A) |
|
177.537 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
149.640 |
0.008 |
|
|
|
Purchases of Stock In Trade |
|
3.106 |
0.000 |
|
|
|
Employee benefits expenses |
|
5.941 |
0.466 |
|
|
|
Other Expenses |
|
14.714 |
0.626 |
|
|
|
Changes in inventories of finished goods, work0in-progress and stock
in trade |
|
(3.614) |
0.000 |
|
|
|
TOTAL (B) |
|
169.787 |
1.100 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
7.750 |
(1.100) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
1.325 |
0.005 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
6.425 |
(1.105) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.195 |
0.003 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
6.230 |
(1.108) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
1.661 |
(0.020) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
|
4.569 |
(1.088) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
80.909 |
0.000 |
|
|
TOTAL IMPORTS |
|
80.909 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
|
6.09 |
(1.45) |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
|
2.57 |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
3.54 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
13.99 |
(3.27) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.34 |
(0.08) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
0.29 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.06 |
1.69 |
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
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 |
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 |
CORPORATE
INFORMATION
Subject undertakes turnkey projects, using solar photovoltaic
technology, including polycrystalline and thin-film materials. Ranging from KW
scale to MW scale, HASPL provides complete end-end solutions to home owners,
government agencies, commercial and industrial clients across India. HASPL also
undertakes projects wherein solar photovoltaic material can be integrated in
the building material itself, called BIPV (Building Integrated photovoltaic).
In addition to the above, HASPL operates a wholesale division which is
involved in trading of solar inverters of one of all leading brands, across
India.
REVIEW OF
OPERATIONS
During the year, the company achieved gross sales turnover of Rs.
186.866 Millions compared to previous figures of Rs. Nil. The profit before
depreciation and Tax has increased to Rs. 6.425 Millions from Loss of Rs. 1.106
Millions. The net profit after tax increased to Rs. 4.569 Millions from loss of
Rs. 1.088 Millions. At the end of the year, company’s reserve stood at Rs.
10.980 Millions (Previous year Rs. 6.412 Millions) and book debts value of
share stood at Rs. 24.64 per share (Previous year Rs. 18.55 per share).
FORM 8
|
Corporate
identity number of the company |
U29307GJ2010PTC063233 |
|
Name of the
company |
HARSHA ABAKUS
SOLAR PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 427/431, Moraiya Farm, Sarkhej-Bavla Road, P.O.Changodar,
Ahmedabad- 382213, Gujarat, India Email: harsha@harshaengineers.com
|
|
This form is for |
Creation of
charge |
|
Type of charge |
|
|
Particular of charge
holder |
HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel
(West), Mumbai-400013, Maharashtra, India Email: timir.patel@hdfcbank.com
|
|
Nature of
instrument creating charge |
Hypothecation
Agreement For The Stocks, Book debts, And Machinery |
|
Date of
instrument Creating the charge |
25.02.2013 |
|
Amount secured by
the charge |
Rs. 510.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As mutually
agreed on date of disbursement and as mutually agreed. Terms of repayment STL - Bullet
Repayment at the end of 90 Days LC - Max 90 days from date of dispatch in
case of Import LCs Max 90 days from date of dispatch
in case of Inland LCs Last date of negotiation of any LC
shall not exceed the validity period of the facility. BG - Max 90 days
(including claim period), Performance bank guarantee for 3 yr. tenor Margin LC - Cash margin of
Rs. 100.000 Millions. (FDR lien marked to HDFC Bank) BG - Financial
Guarantees - Cash Margin of Rs. 100.000 Millions.(FDR lien marked to HDFC
Bank) - Non financial Guarantees -Cash Margin
of Rs. 100.000 Millions.(FDR lien marked to HDFC Bank) -
Guarantees covering disputed liabilities - 100% - Shipping Guarantees - 110% STL - NIL Extent and operation of the charge Exclusive/sole
charge on all the stock in trade both present and future consisting of Raw
materials, finished goods, goods in process of manufacturing and other
merchandise whatsoever being movable properties. All the book
debts, outstanding monies receivable, claims and bills. All the movable
plant and machinery both present and future. |
|
Short particulars
of the property charged (Including location of the property) |
All the stock in
trade both present and future consisting of Raw materials, finished goods,
goods in process of manufacturing and other merchandise whatsoever being
movable properties All the book
debts, outstanding monies receivable, claims and bills which are now due and
owing which may at any time due. All the movable
plant and machinery both present and future and other movable fixed assets of
the company. |
FIXED ASSETS
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 records 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. 53.95 |
|
|
1 |
Rs. 83.80 |
|
Euro |
1 |
Rs. 70.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.