MIRA
INFORM REPORT
|
Report Date : |
24.09.2013 |
|
|
|
|
Tel. No.: |
+917819870345 |
|
Fax No.: |
91-79-23287470 |
IDENTIFICATION DETAILS
|
Name : |
SAHAJANAND LASER TECHNOLOGY LIMITED (w.e.f 28.02.2006) |
|
|
|
|
Formerly Known
As : |
SHREEJI LASER
TECHNOLOGY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E-30, G.I.D.C.,
Electronics Estate, Sector – 26, Gandhinagar - 382028, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 (Profit and Loss Account) |
|
|
|
|
Date of
Incorporation : |
23.04.2002 |
|
|
|
|
Com. Reg. No.: |
04-040659 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.203.682 Millions (As on: 31.03.2011) |
|
|
|
|
CIN No.: [Company Identification
No.] |
U30007GJ2002PLC040659 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTS00836D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCS1983B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of laser marking and engraving, laser cutting, laser
welding, solar cell scribing / micro-machining system. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2440000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 |
CARE |
|
Rating |
BBB- (Long Term Bank Facilities) |
|
Rating Explanation |
Having moderate degree of safety regarding
timely servicing of financial obligation. It carry moderate credit risk. |
|
Date |
January, 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
Management Non-Cooperative (91-79-23287461)
LOCATIONS
|
Registered / Corporate Office / Factory 1
/ Marketing: |
E-30, G.I.D.C.,
Electronics Estate, Sector – 26, Gandhinagar-382028, |
|
Tel. No.: |
91-79-23241379/
23287461 – 68/23287470 |
|
Fax No.: |
91-79-23241465/ 23287470 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
10000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Head Office / Marketing Office : |
41, |
|
Tel. No.: |
91-79-26854537 / 38 |
|
Fax No.: |
91-79-26854539 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory 2 [SEZ
WORKS] : |
Plot No. 29 and
58, |
|
Tel. No.: |
91-261-2568447-48 |
|
Fax No.: |
91-261-2398419 |
|
|
|
|
Branch Office : |
Located at :
|
|
|
|
|
Oversea Offices
: |
Located at:
|
DIRECTORS
As on: 03.08.2012
|
Name : |
Mr. Arvind Lavji
Patel |
||
|
Designation : |
Managing Director |
||
|
Address : |
Plot – 4,
Manichandra Society, Part – I, Near Surdhara Circle, Thaltej, Ahmedabad –
380054, |
||
|
Date of Birth/Age : |
07.08.1958 |
||
|
Qualification : |
B.E (Electronics) |
||
|
Date of Appointment : |
23.04.2002 |
||
|
DIN No.: |
00085612 |
||
|
|
|
||
|
Name : |
Mr. Dhirajlal
Jerambhai Babaria |
||
|
Designation : |
Director |
||
|
Address : |
435, Shady Lane, |
||
|
Date of Birth/Age : |
10.03.1949 |
||
|
Date of Appointment : |
15.05.2006 |
||
|
DIN No.: |
00689305 |
||
|
|
|
||
|
Name : |
Mr. Nilesh
Rajanikant Desai |
||
|
Designation : |
Director |
||
|
Address : |
1, Manekbaug
Society, |
||
|
Date of Birth/Age : |
06.07.1960 |
||
|
Date of Appointment : |
15.05.2006 |
||
|
DIN No.: |
00414747 |
||
|
|
|
||
|
Name : |
Mr. Sudhakar
Chintaman Sahasrabudhe |
||
|
Designation : |
Director |
||
|
Address : |
Amarasharanam, |
||
|
Date of Birth/Age : |
05.07.1942 |
||
|
Date of Appointment : |
15.01.2008 |
||
|
DIN No.: |
00114802 |
||
|
|
|||
|
Name : |
Mr. Maulik
Arvindbhai Patel |
||
|
Designation : |
Whole Time
Director |
||
|
Address : |
Plot – 4,
Manichandra Society, Part – I, Near Surdhara Circle, Thaltej, Ahmedabad –
380054, |
||
|
Date of Birth/Age : |
26.08.1984 |
||
|
Qualification : |
B E (Mecatronics) |
||
|
Date of Appointment : |
01.04.2009 |
||
|
DIN No.: |
00359678 |
||
|
|
|||
|
Name : |
Mr. Mihirkumar
Arvindbhai Joshi |
||
|
Designation : |
Nominee Director |
||
|
Address : |
37/A, Vrajraj
Co-operative Housing Society, |
||
|
Date of Birth/Age |
12.06.1977 |
||
|
Date of Appointment : |
19.08.2009 |
||
|
DIN No.: |
00823615 |
||
|
|
|||
|
Name : |
Mr. Dilip
Kevalram Pankhi |
||
|
Designation : |
Nominee Director |
||
|
Address : |
7, Das Bunglows,
Near Bodakdev Fire Station, Bodakdev, Vastrapur, Ahmedabad – 380054, Gujarat,
India |
||
|
Date of Appointment : |
31.05.2010 |
||
|
DIN No.: |
03009105 |
||
|
|
|
||
|
Name : |
Mr. Dhirajlal
Jerambhai Babaria |
||
|
Designation : |
Director |
||
|
Address : |
435, Shady Lane,
South Lake, Texas 76092 USA |
||
|
Date of Appointment : |
15.05.2006 |
||
|
DIN No.: |
00689305 |
||
|
|
|
||
|
Name : |
Mr. Ashwin
Jerambhai Babaria |
||
|
Designation : |
Director |
||
|
Address : |
435, Shady Lane,
South Lake, Texas 76092 USA |
||
|
Date of Appointment : |
15.05.2006 |
||
|
DIN No.: |
00359466 |
||
KEY EXECUTIVES
|
Name : |
Ms. Pooja Majithia |
|
Designation : |
Company Secretary |
|
Address : |
28, Vrundawan Bunglow, Opposite Nid, Kudasan, Gandhinagar – 382421, |
|
Date of Birth/Age : |
25.12.2009 |
|
Date of Appointment : |
AFFPM4444L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 03.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
Arvindbhai L Patel |
|
9840066 |
|
Dineshbhai L patel |
|
593633 |
|
Lavjibhai P Patel |
|
527450 |
|
Jyotsnaben A Patel |
|
547500 |
|
Rekhaben D Patel |
|
553333 |
|
Dhirajlal J Babaria |
|
3094219 |
|
Ashwinbhai J Babaria |
|
3073385 |
|
ALP Multi-Tech Private Limited |
|
50000 |
|
Dineshbhai Lavjibhai Patel HUF Through Dineshbhai
Lavjibhai Patel, Karta |
|
140000 |
|
GVFL Trustee Company Private Limited - Trustee of
Gujarat IT Fund |
|
1933333 |
|
Hasmukhbhai R Patel |
|
100 |
|
Maulik A Patel |
|
15208 |
|
|
|
|
|
Total |
|
20368227 |
Equity Share Break up (Percentage of Total Equity)
As on: 03.08.2012
|
Category |
|
Percentage |
|
Venture capital |
|
9.49 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
30.28 |
|
Directors or relatives of directors |
|
60.23 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of laser marking and engraving, laser cutting, laser
welding, solar cell scribing / micro-machining system. |
||||
|
|
|
||||
|
Products : |
· Laser Cutting System · Laser Marking System and Automation · Laser Welding System ·
Diamond Processing System |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
||||||||||||||
|
|
|
||||||||||||||
|
Bankers : |
· IDBI Bank Limited, IDBI Complex, Opposite Municipal Staff Quarters, Off. C. G. Road, Ahmedabad - 380006, Gujarat, India · State Bank of India, MCL Au Unit, Ahmedabad LHO Building, Lal Darwaja, Ahmedabad - 380006, Gujarat, India |
||||||||||||||
|
|
|
||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Manubhai and
Company Chartered
Accountants |
|
Address : |
2nd Floor, B Wing, Premium House, Navrangapura, Ahmedabad –
380009, |
|
E-Mail : |
|
|
Website: |
|
|
PAN No: |
AAFFM2086H |
|
|
|
|
Relative of KMP : |
· Shreeji Services · Sahajanand Software Private Limited · Microsurface Technology · Achme Lasertech Private Limited |
|
|
|
|
Wholly Owned
Subsidiaries : |
· Lancer Medical Technology Private Limited CIN No.: U33112GJ2003PTC043027 · Satva Mechatronics Private Limited CIN NO.: U31200GJ2000PTC054210 · SLT Guangzhou Jewellery Company Limited, China · SLT Globe Tech Private Limited · SLT and Handesgesllschaft GMBH, Germany · SLT USA · SLT Energy Limited CIN No.: U40100GJ2008PLC053141 · Global Microwave Private Limited CIN No.: U29299GJ2008PTC054210 |
|
|
|
|
Enterprise over
which Key Management personnel are able to exercise significant Influence : |
· Fab Lasertech Private Limited · Sahajanand Technocrat · S V Tronics Assembling (India) Private Limited · Cell Thep ·
Sigma Lasertech Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20368227 |
Equity Shares |
Rs.10/- each |
Rs.203.682 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
203.682 |
203.682 |
|
|
2] Share Application Money |
|
1.247 |
1.247 |
|
|
3] Reserves & Surplus |
|
406.962 |
351.593 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
611.891 |
556.522 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
294.942 |
209.718 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
294.942 |
209.718 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
906.833 |
766.240 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
367.526 |
179.208 |
|
|
Capital work-in-progress |
|
2.199 |
107.390 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
79.347 |
78.837 |
|
|
DEFERRED41 TAX ASSETS |
|
25.593 |
0.024 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
199.571
|
147.578 |
|
|
Sundry Debtors |
|
327.499
|
231.934 |
|
|
Cash & Bank Balances |
|
36.812
|
30.443 |
|
|
Other Current Assets |
|
0.000
|
0.000 |
|
|
Loans & Advances |
|
111.623
|
96.055 |
|
Total
Current Assets |
|
675.505
|
506.010 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
207.663
|
63.249 |
|
|
Other Current Liabilities |
|
30.346
|
38.530 |
|
|
Provisions |
|
5.328
|
3.750 |
|
Total
Current Liabilities |
|
243.337
|
105.529 |
|
|
Net Current Assets |
|
432.168
|
400.481 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.300 |
|
|
|
|
|
|
|
|
TOTAL |
|
906.833 |
766.240 |
|
NOTE: Balance Sheet for the year 2012 is not
available, only profit and loss account is available.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1025.344 |
635.879 |
386.495 |
|
|
|
Other Income |
8.324 |
10.187 |
7.092 |
|
|
|
TOTAL (A) |
1033.668 |
646.066 |
393.587 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
673.384 |
530.807 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(7.788) |
(62.743) |
|
|
|
|
Employee benefit expense |
92.970 |
45.631 |
|
|
|
|
Other expenses |
98.077 |
66.356 |
|
|
|
|
TOTAL (B) |
856.643 |
580.051 |
342.651 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
177.025 |
66.015 |
50.936 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
34.907 |
23.684 |
23.381 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
142.118 |
42.331 |
27.555 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
24.674 |
14.649 |
10.192 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
117.444 |
27.682 |
17.363 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
19.354 |
24.898 |
(5.157) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
98.090 |
52.580 |
22.520 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
211.919 |
159.339 |
136.819 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
310.009 |
211.919 |
159.339 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.82 |
2.58 |
1.11 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total
Income |
(%) |
9.49 |
8.14 |
5.72
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.45 |
4.35 |
4.49
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
2.65 |
2.53
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.05 |
0.03
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
NA |
0.48 |
0.38
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA |
2.78 |
4.79
|
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 |
Yes |
|
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] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
COMPANY PERFORMANCE: (As on: 31.03.2011)
Financial Year 2010-11 marked a strong
resurgence in volume and demand growth post the financial crisis. This growth
was led by developed markets of the Automobiles and Fabrication Industry growth
with Strong Contribution from Diamond Industry’s turnaround and was secular
across all industries and markets. The Company has registered a strong board
based sequential growth across all key markets and customer segments.
On unconsolidated basis, revenues at 635.878
Millions for the year 2010-2011 were higher by 64.52% over the previous year’s
revenue of 386.494 Millions. Operating profit (profit taxes excluding other
income) at 27.682 Millions was up 59.43% from the previous year operating
profit of 17.363 Millions. Net profit for the year at 51.129 Millions was
higher by 127.04% than the previous year’s net profit of 22.520 Millions.
CONTINGENT
LIABILITIES:
a) Guarantees:
The Company has given corporate guarantees in favour of Bank for loan sanctioned to associate concerns by them to the extent of Rs. Nil (P.Y Rs. 12.000 Millions).
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10222649 |
11/05/2012 * |
424,300,000.00 |
IDBI Bank Limited |
IDBI COMPLEX, OPP. MUNICIPAL STAFF QUARTERS, OFF. C. G. ROAD, AHMEDABAD, GUJARAT - 380006, INDIA |
B41245606 |
|
2 |
10192320 |
01/05/2009 |
104,000,000.00 |
TECHNOLOGY DEVELOPMENT BOARD |
WING A, GROUND FLOOR, VISHWAKARMA BHAVAN, SHAHEED JEET SINGH MARG, NEW DELHI, DELHI - 110016, INDIA |
A72457138 |
* Date of charge modification
FIXED
ASSETS
· Land (Freehold and Leasehold)
·
· Plant and machinery
· Furniture and Fixtures
· Computer and Software
· Vehicle
· Office Equipment
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.62.52 |
|
|
1 |
Rs.100.26 |
|
Euro |
1 |
Rs.84.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
Report Prepared
by : |
VRN |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
49 |
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.