MIRA INFORM REPORT
|
Report Date : |
11.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
S T P LIMITED (w.e.f. 09.01.1985) |
|
|
|
|
Formerly Known
As : |
SHALIMAR TAR PRODUCTS (1935) LIMITED |
|
|
|
|
Registered
Office : |
6, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
07.11.1935 |
|
|
|
|
Com. Reg. No.: |
21-008423 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.145.627
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23109WB1935PLC008423 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALS00703D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECS6339M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Construction and Waterproofing Products. |
|
|
|
|
No. of Employees
: |
210 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1454000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The
external borrowing of the company appears to be increasing over years. There
appears some dip in the profitability of the company during 2012. However,
trade relations are reported as fair. Business is active. Payments are
reported to be 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.
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Letter of Credit: A4 |
|
Rating Explanation |
Minimal degree of safety it carry very high credit risk |
|
Date |
February 1, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Cash Credit: B+ |
|
Rating Explanation |
High risk of default |
|
Date |
February 1, 2013 |
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 : |
6, |
|
Tel. No.: |
91-33-23280022/ 30280022 |
|
Fax No.: |
91-33-30280025 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Rented |
|
|
|
|
Corporate Office : |
707,
Chiranjiv Tower, 43, Nehru Place, New Delhi – 110 019, India |
|
Tel. No.: |
91-11-46561359 |
|
Fax No.: |
91-11-46561358 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
Plot No.M6-9, Cuncolim Industrial Estate, Cuncolim
Salcete, Goa - 403 703, India |
|
Tel. No.: |
91-832-2763831 |
|
Fax No.: |
91-832-2865798 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Dimna Road, Mizadih Mango, Jamshedpur – 831 018,
Jharkhand, India |
|
Tel. No.: |
91-657-6456914/ 16 |
|
Fax No.: |
91-657-2463461 |
|
E-Mail : |
|
|
|
|
|
Factory 3 : |
55/56, A&A Development Plot, Industrial Estate, Ambattur – 600
098, Tamilnadu, India |
|
Tel. No.: |
91-44-26251637 |
|
Fax No.: |
91-44-26253714 |
|
E-Mail : |
|
|
|
|
|
Factory 4 : |
D-16 and 17, UPSIDC Industrial Area, Kosi Kotwan, Navipur, Mathura – 281 401, Uttar Pradesh, India |
|
Tel. No.: |
91-5662-698985 |
|
|
|
|
Factory 5 : |
Plot No.1721, GIDC Industrial Estate, Panoli, Ankleshwar, District Bharuch – 394 116, Gujarat, India |
|
Tel. No.: |
91-2646-272137/ 272138/ 272231/ 272235 |
|
E-Mail : |
|
|
|
|
|
Factory 6 : |
Sipaigachi, Village and Post. Charpur, PS. Haripal, District Hooghly – 712 706, West Bengal, India |
|
Tel. No.: |
91-33-32422436 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Located at: ·
Chandigarh ·
Ghaziabad
·
Jaipur
·
Bhubaneswar
·
Jamshedpur ·
Rourkela ·
Patna ·
Siliguri · Guwahati ·
Chattisgarh ·
Ahmedabad ·
Goa ·
Indore ·
Pune ·
Nagpur ·
Vadodara ·
Ankleshwar ·
Rajkot ·
Chennai ·
Secunderabad · Cochin |
|
|
|
|
Regional Office: |
Located at: ·
New Delhi ·
Mumbai ·
Kolkata ·
Bangalore |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Amit Judge |
|
Designation : |
Director |
|
Address : |
42, Sunder Nagar, New Delhi – 110 003, India |
|
Date of Birth/Age : |
14.10.1958 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
29.09.2004 |
|
DIN No.: |
00148854 |
|
PAN No. : |
AACPJ3138Q |
|
|
|
|
Name : |
Mr. Krishna Prasad Shrivastav |
|
Designation : |
Whole Time Director |
|
Address : |
1401, Sector 46, NJ, Gurgaon – 122 001, Haryana India |
|
Date of Birth/Age : |
02.09.1955 |
|
Qualification : |
CA and CS |
|
Date of Appointment : |
19.06.2003 |
|
DIN No.: |
00131298 |
|
PAN No. : |
ANYPS5602F |
|
|
|
|
Name : |
Mr. Krishna Kumar Biyani |
|
Designation : |
Director |
|
Address : |
15C, Anil Roy Road, Kolkata – 700 029, West Bengal, India |
|
Date of Birth/Age : |
01.07.1950 |
|
Qualification : |
CS |
|
Date of Appointment : |
27.09.2005 |
|
DIN No.: |
00050096 |
|
PAN No. : |
AFVPB1894D |
|
Voter ID No.: |
WB/23/152/015383 |
|
|
|
|
Name : |
Mr. Tarit Kumar Roy |
|
Designation : |
Director |
|
Address : |
FD-279, Sector III, Salt Lake, Kolkata – 700 091, West Bengal, India |
|
Date of Birth/Age : |
04.06.1940 |
|
Qualification : |
M. Tech |
|
Date of Appointment : |
27.06.2009 |
|
DIN No.: |
02136114 |
|
PAN No. : |
ACHPR9450L |
|
|
|
|
Name : |
Mr. Ranjit Chowdhury |
|
Designation : |
Director |
|
Address : |
MA-1/6, GC, Garden Estate, Gurgaon - 122 002, Haryana, India |
|
Date of Birth/Age : |
25.04.1965 |
|
Qualification : |
MBA |
|
Date of Appointment : |
27.06.2009 |
|
DIN No.: |
00593019 |
|
PAN No. : |
AAAPD2583M |
|
|
|
|
Name : |
Mr. Lalit Puri |
|
Designation : |
Director |
|
Address : |
3/4, Rani Jhansi Road, New Delhi – 110 055, India |
|
Date of Birth/Age : |
16.01.1953 |
|
Date of Appointment : |
05.09.2012 |
|
PAN No. : |
AAMPP3437G |
KEY EXECUTIVES
|
Name : |
Mr. Jai Prakash Kukreja |
|
Designation : |
Company Secretary |
|
Address : |
D-504, High Flats, Jhulelal Apartments, Road No.44, Pitampura, Delhi –
110 034, India |
|
Date of Birth/Age : |
09.04.1961 |
|
Date of Appointment : |
18.12.2006 |
|
PAN No.: |
AAGPK1514M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
MAJOR SHAREHOLDERS – NOT AVAILABLE
As on 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Public Financial Institutions |
|
1.16 |
|
Nationalised or other Banks |
|
0.01 |
|
Foreign Holding (FIIs, FCs, FFIs, NRIs, OCBs, or Others) |
|
0.97 |
|
Bodies corporate |
|
92.10 |
|
Directors or relatives of directors |
|
3.60 |
|
Other top fifty shareholders |
|
2.16 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Construction and Waterproofing Products. |
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Products : |
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|
Brand Names : |
·
“TARFELT”, ·
“TERAROOF” ·
“THERMOLAY” |
GENERAL INFORMATION
|
No. of Employees : |
210 (Approximately) |
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|
|||||||||||||||||||||
|
Bankers : |
· ICICI Bank Limited ·
State Bank of ·
Allahabad Bank, 16, · ANZ Grindlays Bank, PLC, H Block, Connaught Place, New Delhi – 110 001, India · Corporation Bank, M-41, Connaught Circus, New Delhi – 110 001, India · Corporation Bank, Ghatkopar Branch, Mumbai, Maharashtra, India |
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Lodha and Company Chartered Accountants |
|
Address : |
12, Bhagat Singh Marg, |
|
PAN No.: |
AABFL1894Q |
|
|
|
|
Holding Company : |
Turner Morrison Limited (CIN No.: U51109WB1913PLC002404) |
|
|
|
|
Fellow Subsidiary
Company : |
·
Turner Morrison Land
Limited ·
Lodna Colliery
Company (1920) Limited ·
Vasundhra Holding
Limited ·
Grahams Investment
Limited ·
Grahams Trading
Company India Limited ·
Tuareg Properties
and Security Services Limited |
|
|
|
|
Wholly Owned
Subsidiary : |
Shalimar Tar Products Limited |
|
|
|
|
Enterprises over
which Director(s) have significant influence : |
·
Arcus Limited ·
Devbhoomi Awas Limited |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14570010 |
Equity Shares |
Rs.10/- each |
Rs.145.700
millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14562656 |
Equity Shares |
Rs.10/- each |
Rs.145.627
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 |
145.627 |
145.627 |
141.927 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
217.792 |
202.391 |
135.991 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
363.419 |
348.018 |
277.918 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
206.068 |
138.903 |
95.800 |
|
|
2] Unsecured Loans |
278.042 |
112.116 |
72.228 |
|
|
TOTAL BORROWING |
484.110 |
251.019 |
168.028 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
4.739 |
9.138 |
|
|
|
|
|
|
|
|
TOTAL |
847.529 |
603.776 |
455.084 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
198.154 |
153.247 |
86.504 |
|
|
Capital work-in-progress |
51.204 |
14.951 |
4.911 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.514 |
0.020 |
0.020 |
|
|
DEFERRED TAX ASSETS |
0.198 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
294.643
|
151.599
|
138.813
|
|
|
Sundry Debtors |
290.580
|
257.974
|
163.286
|
|
|
Cash & Bank Balances |
48.001
|
28.660
|
55.044
|
|
|
Other Current Assets |
3.899
|
2.406
|
0.000
|
|
|
Loans & Advances |
192.505
|
165.766
|
144.341
|
|
Total
Current Assets |
829.628
|
606.405
|
501.484
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
137.317
|
93.861
|
87.324
|
|
|
Other Current Liabilities |
60.287
|
45.753
|
31.125
|
|
|
Provisions |
34.565
|
31.233
|
19.386
|
|
Total
Current Liabilities |
232.169
|
170.847
|
137.835
|
|
|
Net Current Assets |
597.459
|
435.558
|
363.649
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
847.529 |
603.776 |
455.084 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
1454.688 |
1369.979 |
991.279 |
|
|
|
Other Income |
2.257 |
3.673 |
8.086 |
|
|
|
TOTAL (A) |
1456.945 |
1373.652 |
999.365 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
517.828 |
525.634 |
944.890 |
|
|
|
Purchase of stock-in-trade |
609.284 |
429.946 |
|
|
|
|
Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
(103.270) |
(13.461) |
|
|
|
|
Employee benefit expense |
99.114 |
82.078 |
|
|
|
|
Other expenses |
265.995 |
257.393 |
|
|
|
|
Extraordinary items |
0.000 |
2.509 |
|
|
|
|
TOTAL (B) |
1388.951 |
1284.099 |
944.890 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
67.994 |
89.553 |
54.475 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
CHARGES (D) |
46.020 |
30.869 |
21.909 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
21.974 |
58.684 |
32.566 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.510 |
8.054 |
8.123 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
10.464 |
50.630 |
24.443 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(4.937) |
17.530 |
13.846 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
15.401 |
33.100 |
10.597 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
46.591 |
13.491 |
2.894 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
46.591 |
13.491 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
NA |
0.766 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
8.819 |
|
|
|
Traded Goods |
NA |
NA |
190.180 |
|
|
TOTAL IMPORTS |
NA |
NA |
198.999 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.06 |
2.27 |
0.75 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.06
|
2.41
|
1.06
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.72
|
3.70
|
2.47
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.02
|
6.66
|
4.16
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.15
|
0.09
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.33
|
0.72
|
0.60
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.57
|
3.55
|
3.64
|
LOCAL AGENCY FURTHER INFORMATION
|
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 |
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 |
Yes |
|
34)
External Agency Rating, if available |
Yes |
UNSECURED LOANS
|
Particulars |
31.03.2012 (Rs. in Millions) |
31.03.2011 (Rs. in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Rupee Term Loans
from Banks |
92.242 |
46.116 |
|
SHORT TERM BORROWINGS |
|
|
|
Inter-corporate
borrowings |
185.800 |
66.000 |
|
Total |
278.042 |
112.116 |
OPERATIONS OF THE COMPANY
The year was a
challenging year arising out of policy paralysis of the Central Government, high
inflation, huge BOP deficit, significant erosion of investor’s confidence and a
turbulent global economy. The company has put in place infrastructure to
surpass the targeted turnover of Rs.2000.000 millions in FY 2011-12, which it
could not achieve due to sluggish market position and poor liquidity in the
market. Although the Company achieved a marginal growth of 5.25 % in turnover,
in real terms there has been a de-growth in quantitative term. As a result of
low turnover there was negative impact on the profit also. During the year, the
Research and Development Center at Goa got recognized by the Department of
Scientific and Industrial Research, Government of India as an approved R&D
Centre. The Company has strengthened its manufacturing facilities and improved
quality of its products through consistent R&D activities. The Company
initiated the process of geographical diversification during the financial year
2009-10 and the first manufacturing facility, to cater to the markets of North
India, was set up in Uttar Pradesh at Kosi Kotwan financial year 2010-11. The
unit has become fully functional in the current year. To continue this process
of diversification the second manufacturing facility has started taking shape
at Hooghly near Kolkata to cater to the markets of East India. This facility
will be operational by October 2012.
FUTURE OUTLOOK
The Company aims
at becoming a R&D led, product/system specification driven market leader in
all segments of its business. The central R&D facility “Avishkar” near
Kolkata has become fully functional. “Avishkar” has successfully given them
ShaliSeal PS (Polysulphide), ShaliUrethane BTD (Modified PU liquid
waterproofing system) and SuperKarGuard BT (underbody corrosion protection
system for vehicles). The Company expects “Avishkar” to significantly
contribute to its targeted growth.
The Company has
institutionalized a central product / system specification team.
The Company’s
production facilities for PU products at Goa, for Super Thermolay at Kosi and
for specified construction chemicals and bitumen products at Hooghly, near
Kolkata would become operational in the 3rd quarter. This will add to the
competitive edge of the Company
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U23109WB1935PLC008423 |
|
Name of the company |
S T
P LIMITED |
|
Address of the registered office or of the
principal place of business in |
6, Lyons Range, Kolkata – 700
001, West Bengal, India E-Mail: tmlcal@airtelmail.in |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable Property Book Debts Movable Property (not being pledge) |
|
Particular of charge holder |
Corporation Bank, M-41, Connaught Circus, New Delhi – 110 001, India E-Mail: pankajkpc@gmail.com |
|
Nature of description of the instrument
creating or modifying the charge |
Common Deed of Hypothecation of Movables/Assets/
Debts |
|
Date of instrument Creating the charge |
14.12.2012 |
|
Amount secured by the charge |
Rs.19.300 millions |
|
Brief particulars of the principal terms
an conditions and extent and operation of the charge |
Rate of Interest: Term Loan: 14% p.a. Being 3.50% over and above Base Rate
10.50% Terms of Repayment: As per Agreement Margin: As per Agreement Extent and Operation of the charge: Term Loan: 19.300 millions |
|
Short particulars of the property charged |
First charge over the entire project
assets of PU Plant of the company established at Plot No-M6 Cuncolin
Industrial Estate, Cuncolin, Salcette, Goa-403707 at total project cost of
Rs.25.800 millions. |
FIXED
ASSETS
· Land
· Buildings
· Plant and Machinery
· Furniture and Fixtures
·
Vehicles
· Office Equipments
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.54.24 |
|
|
1 |
Rs.84.30 |
|
Euro |
1 |
Rs.71.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
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 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
34 |
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.