MIRA INFORM REPORT
|
Report Date : |
03.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
BSL SCAFFOLDING LIMITED [w.e.f. 15.12.2005] |
|
|
|
|
Formerly Known
As : |
BRITISH SCAFFOLDING (INDIA) LIMITED SGB INDIA LIMITED |
|
|
|
|
Registered
Office : |
D-10, Neb Valley, Neb Sarai, Mehrauli, New Delhi-110068 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
22.08.1984 |
|
|
|
|
Com. Reg. No.: |
55-019006 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.59.363
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45208DL1984PLC019006 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Scaffoldings. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1419000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track
record. The company has seen a dip in its net profitability during 2012. However, trade relations are fair. Business is active. Payment terms
are usually correct. In view of strong promoters and experienced management, the subject
can be considered normal for business dealings at usual trade terms and
conditions. |
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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BB+ [Fund Based Limits] |
|
Rating Explanation |
Moderate risk of default |
|
Date |
30.08.2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
A4+ [Non Fund Based Limits-Bank Guarantee] |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
30.08.2013 |
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.
INFORMATION DECLINED
Management non co-operative [91-22-28260984]
LOCATIONS
|
Registered Office : |
D-10, Neb Valley, Neb Sarai, Mehrauli, New Delhi-110068, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
A-26, Sector 59, Noida, District Gautam Budda Nagar, Noida-201301,
Uttar Pradesh, India |
|
Tel No.: |
91-120-2490365/67 |
|
Fax No.: |
91-120-2490368 |
|
Email : |
|
|
|
|
|
Branch Office : |
605/606, Samarpan Complex, New Link Rod, Chakala, Andheri (East),
Mumbai-400099, Maharashtra, India |
|
Tel No.: |
91-22-28260984 |
|
Fax No.: |
91-22-28259207 |
|
|
|
|
Branch Office : |
Also Located At:
|
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Neerav Hans |
|
Designation : |
Managing Director |
|
Address : |
D-10, Neb Valley, Neb Sarai, Mehrauli, New Delhi-110068, India |
|
Date of Birth/Age : |
14.06.1973 |
|
Date of Appointment : |
20.12.2005 |
|
Din No.: |
00025034 |
|
|
|
|
Name : |
Mr. Ashok Mandal |
|
Designation : |
Whole Time Director |
|
Address : |
80, Anand Lok, New Delhi, India |
|
Date of Birth/Age : |
03.10.1957 |
|
Date of Appointment : |
20.01.2006 |
|
Din No.: |
00024792 |
|
|
|
|
Name : |
Mr. Arun Kumar Dutta |
|
Designation : |
Director |
|
Address : |
E-222, Mayur Vihar, Phase II, New Delhi-110091, India |
|
Date of Birth/Age : |
08.08.1938 |
|
Date of Appointment : |
07.05.1993 |
|
Din No.: |
00030310 |
|
|
|
|
Name : |
Ms. Shilpa Hans |
|
Designation : |
Director |
|
Address : |
D-10, Neb Valley, Neb Sarai, Mehrauli, New Delhi-110068, India |
|
Date of Birth/Age : |
06.05.1971 |
|
Date of Appointment : |
16.08.2002 |
|
Din No.: |
00025082 |
|
|
|
|
Name : |
Mr. Jagdish Kumar Batra |
|
Designation : |
Director |
|
Address : |
K-37, Shivalik Nagar, Haridwar-249403, Uttrakhand, India |
|
Date of Birth/Age : |
25.02.1950 |
|
Date of Appointment : |
30.09.2010 |
|
Din No.: |
03257064 |
KEY EXECUTIVES
|
Name : |
Mr. A.P. Singh |
|
Designation : |
Company Secretary |
|
Address : |
Plot No. 318, Road 12, STE-IV, Jhandapur, India |
|
Date of Birth/Age : |
15.01.1965 |
|
Date of Appointment : |
01.06.2006 |
|
Pan No.: |
ARRPS5855K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Neeraj Aggarwal |
|
150 |
|
S.K. Gupta |
|
150 |
|
A.P. Singh |
|
150 |
|
Hutokshi Hans |
|
270810 |
|
Shilpa Hans |
|
2332596 |
|
Neerav Hans |
|
2478750 |
|
Renu Hans |
|
212400 |
|
Buildex Limited, England |
|
76080 |
|
Ramika Hans |
|
565260 |
|
|
|
|
|
TOTAL
|
|
5936346 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
1.28 |
|
Directors
or relatives of directors |
|
98.71 |
|
Other
top fifty shareholders |
|
0.01 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Scaffoldings. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chandra and Associates Chartered Accountants |
|
Address : |
106, Ansal Imperial Tower, C Block, Community Centre, Naraina Vihar,
New Delhi-110028, India |
|
PAN No: |
AARPM0050H |
|
|
|
|
Subsidiary : |
|
|
|
|
|
Other Related Parties : |
NEC Industrial
Projects Limited [U74899DL1988PLC032808] |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5936346 |
Equity Shares |
Rs.10/- each
|
Rs.59.363
Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
59.363 |
59.363 |
|
(b) Reserves & Surplus |
|
295.430 |
282.693 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
|
354.793 |
342.056 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
|
63.838 |
4.234 |
|
(b) Deferred tax
liabilities (Net) |
|
0.000 |
0.000 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
63.838 |
4.234 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
124.623 |
121.859 |
|
(b)
Trade payables |
|
62.153 |
25.676 |
|
(c)
Other current liabilities |
|
12.873 |
8.809 |
|
(d)
Short-term provisions |
|
3.274 |
7.014 |
|
Total
Current Liabilities (4) |
|
202.923 |
163.358 |
|
|
|
|
|
|
TOTAL |
|
621.554 |
509.648 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
158.867 |
107.153 |
|
(ii)
Intangible Assets |
|
5.517 |
4.015 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b)
Non-current Investments |
|
59.655 |
54.943 |
|
(c)
Deferred tax assets (net) |
|
1.506 |
1.553 |
|
(d) Long-term Loan and Advances |
|
6.291 |
6.167 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
231.836 |
173.831 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
73.047 |
74.209 |
|
(c)
Trade receivables |
|
217.221 |
165.752 |
|
(d)
Cash and cash equivalents |
|
21.925 |
32.244 |
|
(e)
Short-term loans and advances |
|
70.025 |
55.532 |
|
(f)
Other current assets |
|
7.500 |
8.080 |
|
Total
Current Assets |
|
389.718 |
335.817 |
|
|
|
|
|
|
TOTAL |
|
621.554 |
509.648 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
59.363 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
252.632 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
311.995 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
156.227 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
156.227 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
468.222 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
116.124 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
49.943 |
|
|
DEFERREX TAX ASSETS |
|
|
1.202 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
81.038 |
|
|
Sundry Debtors |
|
|
179.496 |
|
|
Cash & Bank Balances |
|
|
43.993 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
31.283 |
|
Total
Current Assets |
|
|
335.810 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
22.977 |
|
|
Other Current Liabilities |
|
|
5.666 |
|
|
Provisions |
|
|
6.214 |
|
Total
Current Liabilities |
|
|
34.857 |
|
|
Net Current Assets |
|
|
300.953 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
468.222 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
780.967 |
783.973 |
648.320 |
|
|
|
Other Income |
1.592 |
2.004 |
11.740 |
|
|
|
TOTAL (A) |
782.559 |
785.977 |
660.060 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
590.708 |
582.101 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
2.357 |
8.662 |
592.830 |
|
|
|
Employee benefit expense |
50.148 |
49.875 |
|
|
|
|
Other expenses |
87.211 |
82.462 |
|
|
|
|
TOTAL (B) |
730.424 |
723.100 |
592.830 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
52.135 |
62.877 |
67.230 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
24.455 |
16.475 |
17.215 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
27.680 |
46.402 |
50.015 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.695 |
12.467 |
13.635 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
15.985 |
33.935 |
36.380 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.248 |
6.874 |
7.716 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
12.737 |
27.061 |
28.664 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
268.771 |
241.710 |
213.046 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
581.508 |
268.771 |
241.170 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
3.402 |
8.155 |
57.186 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
10.662 |
19.849 |
19.559 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
2.15 |
4.56 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.63
|
3.44 |
4.34 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.05
|
4.33 |
5.61 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.85
|
7.49 |
8.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.10 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.53
|
0.37 |
0.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.92
|
2.05 |
9.63 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF LONG TERM
DEBT: NOT AVAILABLE
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10349332 |
23/03/2012 |
44,500,000.00 |
BANK OF BARODA |
NEHRU PLACE, NEW
DELHI - 110019, INDIA |
B37467768 |
|
2 |
10292224 |
31/03/2012 * |
60,500,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B36501013 |
|
3 |
10219517 |
16/11/2010 * |
50,000,000.00 |
PUNJAB NATIONAL
BANK |
CC 21, NEHRU
ENCLAVE, NEHRU PLACE, NEW DELHI - 110019, INDIA |
B00732727 |
|
4 |
10001287 |
03/03/2006 |
82,300,000.00 |
BANK OF BARODA |
NEHRU PLACE, NEW
DELHI - 110019, INDIA |
A00299586 |
|
5 |
90063483 |
12/05/2008 * |
50,000,000.00 |
PUNJAB NATIONAL
BANK |
46-DOHIL
CHAMBERS, NEHRU PLACE, NEW DELHI - 110019, INDIA |
A39062344 |
|
6 |
80018465 |
05/07/2011 * |
50,000,000.00 |
PUNJAB NATIONAL
BANK |
CC 21, NEHRU
ENCLAVE, NEHRU PLACE, NEW DELHI - 110019, INDIA |
B17421348 |
|
7 |
80018467 |
05/07/2011 * |
220,000,000.00 |
PUNJAB NATIONAL
BANK |
CC 21, NEHRU ENCLAVE,
NEHRU PLACE, NEW DELHI - 110019, INDIA |
B17426081 |
|
* Date of charge modification |
||||||
NOTE:
The registered office of the company has been shifted from 4th Floor, Manisha 75-76, Nehru Place, New Delhi-110019, India to the present address w.e.f.23.01.2012.
OPERATIONS:
During the Year
under consideration in the report, the Company has achieved a turnover of Rs.
778.387 Millions, which is 0.51 % lower as compared to the previous year figure
of Rs. 782.360 Millions. The profit after tax is Rs. 12.738 Millions.
FIXED ASSETS:
- Plant and
Machinery
- Office
Building
- Vehicles
- Factory Land
and Building
- Electric
Installation
- Software and
ERP Under Installation
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.65.86 |
|
|
1 |
Rs.102.52 |
|
Euro |
1 |
Rs.87.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.