MIRA
INFORM REPORT
|
Report Date : |
05.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
DALI AND SAMIR ENGINEERING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
36, D-II Block, MIDC, Chinchwad, Pune – 411019, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
13.09.1979 |
|
|
|
|
Com. Reg. No.: |
11-021672 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.49.895 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299MH1979PTC021672 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNED04123A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCD0855H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in manufacturing a range of sheet metal components
and exhaust systems for the automotive sector. |
|
|
|
|
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 475000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
There appears slight dip in its profitability during 2012. However, general financial position seems to be strong. 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.
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 |
Long term rating BBB- |
|
Rating Explanation |
Having moderate degree of safety regarding timely
servicing of financial obligation. It carry moderate credit risk. |
|
Date |
April 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 DENIED BY
MANAGEMENT NON – CORPORATIVE (91-20-2747755)
LOCATIONS
|
Registered Office/ Factory 1 : |
36, D-II Block, MIDC, Chinchwad, Pune – 411019, Maharashtra, India |
|
Tel. No.: |
91-20-27477551 (10 lines) |
|
Fax No.: |
91-20-27477551 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Plot No. 46, W.M.D.C. Kharabwadi, Malunge Road, Chakan, Pune - 410501 |
|
|
|
|
Factory 3 : |
Tool Room: Plot No. 56/5, D- II Block, MIDC Chinchwad, Pune,
Maharashtra, India |
|
|
|
|
Factory 4 : |
Plot No. 43, Sector 11, Tata Vendor
Park, IIE Pantnagar Rudrapur - 263153,
Uttarakhand, India |
|
|
|
|
Factory 5 : |
Hosur, Tamilnadu, India |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Madhav Salian |
|
Designation : |
Managing director |
|
Address : |
Mandira – 6, Nilgiri lane, Baner Road, Aundh, Pune – 411007,
Maharashtra, India |
|
Date of Birth/Age : |
10.11.1934 |
|
Date of Appointment : |
13.09.1979 |
|
PAN No. : |
ACPPS6094R |
|
DIN No.: |
00600531 |
|
|
|
|
Name : |
Mr. Sandesh Salian |
|
Designation : |
Whole-time director |
|
Address : |
Mandira – 6, Nilgiri lane, Baner Road, Aundh, Pune – 411007,
Maharashtra, India |
|
Date of Birth/Age : |
16.09.1973 |
|
Date of Appointment : |
04.09.1992 |
|
PAN No. : |
ABWPS7671N |
|
DIN No.: |
00600574 |
|
|
|
|
Name : |
Mr. Sameer Salian |
|
Designation : |
Whole-time director |
|
Address : |
Mandira – 6, Nilgiri lane, Baner Road, Aundh, Pune – 411007,
Maharashtra, India |
|
Date of Birth/Age : |
01.01.1968 |
|
Date of Appointment : |
01.06.1988 |
|
PAN No. : |
ACEPS8710K |
|
DIN No.: |
00600732 |
|
|
|
|
Name : |
Ms. Sangeeta Yuvraj Sah |
|
Designation : |
Director |
|
Address : |
SR 79/2/1, Plot No. 2, Flat 4, Aundh Baner Road, Nilgiri Apartments,
Pune – 411007, Maharashtra, India |
|
Date of Appointment : |
01.05.1998 |
|
DIN No.: |
02430699 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Madhav Salian |
348844 |
|
Indira Salian |
75054 |
|
Samir Salian |
33694 |
|
Sandesh Salian |
20680 |
|
Sangeeta Shah |
20680 |
|
Total |
498952 |
As on: 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing a range of sheet metal components
and exhaust systems for the automotive sector. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Silencers |
Nos. |
Not Applicable |
Not Ascertained |
74.394 |
|
Tanks |
Nos. |
Not Applicable |
Not Ascertained |
437,897 |
|
Others |
Nos. |
Not Applicable |
Not Ascertained |
1,307,905 |
|
Total |
|
|
|
1,820,196 |
GENERAL INFORMATION
|
Customers : |
Ø
Tata Motors Ø
Tata Motors Limited Ø
Kirloskar Oil Engines Limited Ø
JCB Ø
Bajaj Auto Ø
Tata Toyo Radiator Ø
Wipro Infrastructure Engineering Limited Ø
Asia Motor work Ø
Kubota Corp (USA) Ø
Tranter (India) Ø
Sam Deutz Fahr |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
Information denied by the management |
||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||
|
Bankers : |
Ø Syndicate Bank,
202, Gawade Estate, Mumbai – Pune Road, Chinchwad, Pune – 411019,
Maharashtra, India Ø Kotak Mahindra
Bank Ø HDFC Bank |
||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sharad Shah and Company Chartered Accountants |
|
Address : |
Gokul Nagar B, 1184/4, Fergusson College Road, Pune – 411005,
Maharashtra, India |
|
Tel. No.: |
91-20-25535405 / 25535426 |
|
Fax No.: |
91-20-25536624 |
|
E-Mail : |
|
|
Website : |
|
|
PAN No. : |
AAEFS2410C |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
498952 |
Equity Shares |
Rs.100/- each |
Rs.49.895 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 |
|
49.895 |
49.895 |
|
(b) Reserves & Surplus |
|
69.013 |
51.167 |
|
(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) |
|
118.908 |
101.062 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
52.897 |
60.085 |
|
(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) |
|
52.897 |
60.085 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
167.128 |
102.301 |
|
(b) Trade payables |
|
108.412 |
95.424 |
|
(c) Other current liabilities |
|
40.712 |
31.295 |
|
(d) Short-term provisions |
|
6.516 |
1.720 |
|
Total Current Liabilities (4) |
|
322.768 |
230.740 |
|
|
|
|
|
|
TOTAL |
|
494.573 |
391.887 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
91.323 |
90.908 |
|
(ii) Intangible Assets |
|
0.305 |
0.203 |
|
(iii) Capital
work-in-progress |
|
4.688 |
3.457 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.387 |
0.405 |
|
(c) Deferred tax assets (net) |
|
6.257 |
5.849 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
102.960 |
100.822 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
121.794 |
87.340 |
|
(c) Trade receivables |
|
211.355 |
167.699 |
|
(d) Cash and cash
equivalents |
|
5.831 |
0.266 |
|
(e) Short-term loans
and advances |
|
52.580 |
35.657 |
|
(f) Other current
assets |
|
0.053 |
0.103 |
|
Total Current Assets |
|
391.613 |
291.065 |
|
|
|
|
|
|
TOTAL |
|
494.573 |
391.887 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
49.895 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
6.349 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
56.244 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
140.212 |
|
|
2] Unsecured Loans |
|
|
9.096 |
|
|
3] Sales tax deferral under PSI 1993 |
|
|
9.688 |
|
|
TOTAL BORROWING |
|
|
158.996 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
215.240 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
99.117 |
|
|
Capital work-in-progress |
|
|
0.710 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.423 |
|
|
DEFERREX TAX ASSETS |
|
|
4.262 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
58.327 |
|
|
Sundry Debtors |
|
|
106.343 |
|
|
Cash & Bank Balances |
|
|
0.408 |
|
|
Other Current Assets |
|
|
0.042 |
|
|
Loans & Advances |
|
|
27.069 |
|
Total
Current Assets |
|
|
192.189 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
8.245 |
|
|
Other Current Liabilities |
|
|
62.367 |
|
|
Provisions |
|
|
10.849 |
|
Total
Current Liabilities |
|
|
81.461 |
|
|
Net Current Assets |
1.
|
|
110.728 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
215.240 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1043.540 |
729.641 |
|
|
|
|
Other Income |
0.545 |
0.820 |
|
|
|
|
TOTAL |
1044.085 |
730.461 |
455.669 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
997.247 |
657.298 |
404.343 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
46.838 |
73.163 |
51.326 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
22.023 |
19.708 |
20.673 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
24.815 |
53.455 |
30.653 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.069 |
8.637 |
1.182 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
20.746 |
44.818 |
29.471 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
41.58 |
89.82 |
59.06 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.99
|
6.13 |
6.47 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.38
|
7.33 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.13
|
13.99 |
10.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.53 |
0.54 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.85
|
1.61 |
2.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21
|
1.26 |
2.36 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
Current Maturities
of Long Term Debt Are 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 |
No |
|
17] |
Major
suppliers |
No |
|
18] |
Major
customers |
Yes |
|
19] |
Payments
terms |
No |
|
20] |
Export /
Import details (if applicable) |
No |
|
21] |
Market
information |
---------------------- |
|
22] |
Litigations
that the firm / promoter involved in |
---------------------- |
|
23] |
Banking
Details |
Yes |
|
24] |
Banking
facility details |
Yes |
|
25] |
Conduct of
the banking account |
---------------------- |
|
26] |
Buyer visit
details |
---------------------- |
|
27] |
Financials,
if provided |
Yes |
|
28] |
Incorporation
details, if applicable |
Yes |
|
29] |
Last accounts
filed at ROC |
Yes |
|
30] |
Major
Shareholders, if available |
Yes |
|
31] |
Date of Birth
of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No
of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
UNSECURED LOAN:
|
Particulars |
31.03.2012 [Rs.
in Millions] |
31.03.2011 [Rs.
in Millions] |
|
Long Term
Borrowing |
|
|
|
Loans and advances from directors |
23.323 |
30.885 |
|
Deferred sales tax loan |
9.688 |
9.688 |
|
|
|
|
|
Total |
33.011 |
40.573 |
INDEX CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10340145 |
02/03/2012 |
28,000,000.00 |
Syndicate Bank |
202, Gawade Estate, Mumbai - Pune Road, Chinchwad, Pune, Maharashtra -
411019, INDIA |
B34108498 |
|
2 |
10069095 |
12/10/2009 * |
23,700,000.00 |
SYNDICATE BANK |
202,GAWADE ESTATE, MUMBAI PUNE ROAD, CHINCHWAD,PUNE, Maharashtra -
411019, INDIA |
A72934342 |
|
3 |
10033764 |
12/10/2009 * |
41,300,000.00 |
SYNDICATE BANK |
202, Gawade Estate, Mumbai - Pune Road, Chinchwad, Pune, Maharashtra -
411019, INDIA |
A72893159 |
|
4 |
10070578 |
23/03/2009 * |
41,300,000.00 |
Syndicate Bank |
202, Gawade Estate, Mumbai - Pune Road, Chinchwad, Pune, Maharashtra -
411019, INDIA |
A61217204 |
|
5 |
90089386 |
02/03/2012 * |
210,000,000.00 |
Syndicate Bank |
202, Gawade Estate, Mumbai - Pune Road, Chinchwad, Pune, Maharashtra -
411019, INDIA |
B34111385 |
* Date of charge modification
OPERATIONS:
The Company achieved the Sales turnover of Rs. 1043.540 millions compared to Rs. 729.641 millions during the previous year 2010:11. However, Company made Profit of Rs. 20.746 millions compared to Profit of Rs. 44.818 millions during 2010:11 due to heavy increase in purchase cost of material and components, increase in other manufacturing expenses, setting of new plant at Hosur, huge expenditure of developing new products for new big customers, starting new lines of products and new competition.
During the year their newly installed plants in Hosur in Tamilnadu State is functional. As plant location is adjacent to Bengaluru, it helps us to cater the needs of M/s Daimler India Commercial Vehicle Private Limited and M/s Nissan Ashoka Leyland Technologies Private Limited.
CORPORATE
INFORMATION:
Subject is a progressive medium scale industry manufacturing a range of sheet
metal components and exhaust systems for the automotive sector since 1972.
FIXED ASSETS:
Ø
Land
Ø
Freehold Land
Ø
Leasehold Land
Ø
Building
Ø
Factory Building
Ø
Staff Quarters
Ø
Temporary Shed
Ø
Furniture
Ø
Electrical Installation
Ø
Electrical Fitting
Ø
Fans
Ø
Plant and Machinery
Ø
Generator Sets
Ø
Energy Saving Devices
Ø
Factory Equipment
Ø
Office Equipment
Ø
Dies
Ø
Computer
Ø
Software
Ø
Water cooler and AC
Ø
Motor Vehicle
Ø
Scooter
Ø
Goods Carrier
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.67.03 |
|
|
1 |
Rs.104.32 |
|
Euro |
1 |
Rs.88.24 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.