MIRA
INFORM REPORT
|
Report Date : |
24.09.2013 |
NOTE:
Given name is the old name of the company.
IDENTIFICATION DETAILS
|
Name : |
SHELL AND PEARL PORCELLANO LIMITED (w.e.f.09.04.2013) |
|
|
|
|
Formerly Known
As : |
SHELL AND PEARL CERAMICS LIMITED |
|
|
|
|
Registered
Office : |
207, Sarthik – II, Opposite Rajpath Club, S.G. Highway, Ahmedabad –
380054, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
22.03.2000 |
|
|
|
|
Com. Reg. No.: |
04-037610 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.470.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26919GJ2000PLC037610 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCS2593B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading of Machineries, Spare Parts, Raw Material etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 309000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The company financial is under pressure and it seems company has taken
huge external borrowing. Also there appear huge financial losses recorded
during the year 2012. However, trade relations are fair. Business is active. Payment terms
are slow. The company can be considered for business dealing 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 – 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.
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
|
Name : |
Ms. Parul Kadia |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-79-26872383 |
|
Date : |
20.09.2013 |
LOCATIONS
|
Registered/ Head Office : |
207, Sarthik – II, Opposite Rajpath Club, S.G. Highway, Ahmedabad –
380054, Gujarat, India |
|
Tel. No.: |
91-79-26872383/84 |
|
Fax No.: |
91-79-26872385 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No 19, Jhagadia GIDC Estate. Taluka Jhagadia – 02
District Bharuch, |
|
|
|
|
Branches : |
Located At: Ø Mumbai Ø Delhi Ø Mangalore Ø Bangalore |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Ritesh Kumar |
|
Designation : |
Director |
|
Address : |
E-1A, Maharani Bagh, New Delhi – 110065, India |
|
Date of Birth/Age : |
03.09.1982 |
|
Date of Appointment : |
16.01.2010 |
|
DIN No. : |
00110720 |
|
|
|
|
Name : |
Prafulla Gattani |
|
Designation : |
Managing director |
|
Address : |
A-33, Meghna Bunglows, B/H, Inductotherm, Bopal, Ahmedabad – 380058, Gujarat,
India |
|
Date of Birth/Age : |
03.01.1967 |
|
Date of Appointment : |
22.03.2000 |
|
DIN No. : |
00147844 |
|
|
|
|
Name : |
Mr. Sanjeev Gupta |
|
Designation : |
Additional director |
|
Address : |
B-204, Surya Nagar, Ghaziabad, Ghaziabad – 201011, Uttar Pradesh,
India |
|
Date of Birth/Age : |
04.10.1967 |
|
Date of Appointment : |
22.10.2011 |
|
DIN No. : |
00864882 |
|
|
|
|
Name : |
Chandra Mohan Maheshwari |
|
Designation : |
Director |
|
Address : |
B-203/204, Aryaman Awas, Opposite Saibaba Temple, Ramdevnagar,
Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
18.07.1963 |
|
Date of Appointment : |
31.03.2011 |
|
DIN No. : |
02142610 |
|
|
|
|
Name : |
Roopram Sunderlal Sharma |
|
Designation : |
Additional director |
|
Address : |
84-Goyal Park, Judges Bunglows Road,Nr.Premchand Nagar, Vastraput
Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
01.01.1942 |
|
Date of Appointment : |
28.05.2012 |
|
DIN No. : |
05287415 |
KEY EXECUTIVES
|
Name : |
Ms. Parul Kadia Nayan |
|
Designation : |
Secretary |
|
Address : |
35/417, Raghukul Apartment, Sola Road, Naranpura, Ahmedabad – 380063,
Gujarat, India |
|
Date of Birth/Age : |
23.05.1983 |
|
Date of Appointment : |
01.09.2012 |
|
PAN No. : |
CGFPK4246K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Prafulla Gattani |
3083871 |
|
Madhukanta Gattani |
2370100 |
|
Kavita Nambiar |
215000 |
|
Nayan C. Parikh |
100 |
|
Dhanlaxmi Consultancy Private Limited |
14206000 |
|
Uni Silk Limited |
13420018 |
|
Hemant Kothari |
130000 |
|
Shweta Dugar |
150000 |
|
Ritesh Dugar |
200000 |
|
Rikka Kamlesh Jain |
5000 |
|
Abhishek Shah |
20000 |
|
Amisha Fincap Private Limited |
1000000 |
|
Dharampal Premchand Limited |
5210000 |
|
Baba Global Ltd. |
4290000 |
|
Kanaiya Sanghai |
1699911 |
|
Harikishan Agarwal |
1000000 |
|
|
|
|
Total |
47000000 |
As on: 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
29.57 |
|
Bodies corporate |
52.57 |
|
Directors or relatives of Directors |
12.06 |
|
Other top fifty shareholders |
5.80 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading of Machineries, Spare Parts, Raw Material etc. |
||||
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||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Bankers : |
·
Bank of India, BOI Consortium, Ahmedabad Large
Corporation Branch, 2nd Floor, BOI Building, Bhadra, Ahmedabad –
380001, Gujarat, India ·
Dena Bank ·
Allahabad Bank |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
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Facilities : |
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|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Bhagat and Company Chartered Accountant |
|
Address : |
24, Laxmi Chambers, Navjeevan Prem Road, Opposite Old High Court,
Ahmedabad – 380014, Gujarat, India |
|
PAN No. : |
ACWPB7495G |
|
|
|
|
Associates : |
Amazon Ceramics Limited (Formerly Eureka Tiles Limited) CIN No. U26933GJ2003PLC042959 |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
47000000 |
Equity Shares |
Rs.10/- each |
Rs.470.000 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 |
|
470.000 |
462.659 |
|
(b) Reserves & Surplus |
|
(392.668) |
27.782 |
|
(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) |
|
77.332 |
490.441 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
643.220 |
771.469 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
2.054 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
1.282 |
0.381 |
|
Total Non-current Liabilities (3) |
|
644.502 |
773.904 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
601.959 |
134.998 |
|
(b) Trade payables |
|
68.944 |
47.531 |
|
(c) Other current
liabilities |
|
254.826 |
111.408 |
|
(d) Short-term provisions |
|
0.073 |
0.922 |
|
Total Current Liabilities (4) |
|
925.802 |
294.859 |
|
|
|
|
|
|
TOTAL |
|
1647.636 |
1559.204 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1151.888 |
895.456 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
4.270 |
255.089 |
|
(iv) Intangible
assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
35.867 |
35.868 |
|
(c) Deferred tax assets (net) |
|
9.982 |
0.000 |
|
(d) Long-term Loan and Advances |
|
43.837 |
72.757 |
|
(e) Other Non-current assets |
|
1.444 |
1.867 |
|
Total Non-Current Assets |
|
1247.288 |
1261.037 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
162.826 |
73.043 |
|
(c) Trade receivables |
|
74.828 |
64.521 |
|
(d) Cash and cash
equivalents |
|
86.401 |
60.639 |
|
(e) Short-term loans and
advances |
|
72.868 |
98.970 |
|
(f) Other current assets |
|
3.425 |
0.994 |
|
Total Current Assets |
|
400.348 |
298.167 |
|
|
|
|
|
|
TOTAL |
|
1647.636 |
1559.204 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
246.274 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
26.232 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
272.506 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
400.993 |
|
|
2] Unsecured Loans |
|
|
25.794 |
|
|
TOTAL BORROWING |
|
|
426.787 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
699.293 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
68.257 |
|
|
Capital work-in-progress |
|
|
83.327 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
27.502 |
|
|
DEFERREX TAX ASSETS |
|
|
0.013 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
10.988 |
|
|
Sundry Debtors |
|
|
53.830 |
|
|
Cash & Bank Balances |
|
|
111.710 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
378.169 |
|
Total
Current Assets |
|
|
554.697 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
26.804 |
|
|
Other Current Liabilities |
|
|
3.295 |
|
|
Provisions |
|
|
4.406 |
|
Total
Current Liabilities |
|
|
34.505 |
|
|
Net Current Assets |
|
|
520.192 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.002 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
699.293 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
314.387 |
87.091 |
168.221 |
|
|
|
Other Income |
5.940 |
0.842 |
0.175 |
|
|
|
TOTAL |
320.327 |
87.933 |
168.396 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
161.392 |
15.026 |
|
|
|
|
Purchases of stock-in-trade |
0.823 |
47.789 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(78.959) |
(25.751) |
|
|
|
|
Employee benefit expense |
58.554 |
4.827 |
|
|
|
|
Other expenses |
386.255 |
21.782 |
|
|
|
|
TOTAL |
528.065 |
63.673 |
147.993 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(207.738) |
24.260 |
20.403 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
175.513 |
14.008 |
6.656 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND
AMORTISATION |
(383.251) |
10.252 |
13.747 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
49.233 |
4.324 |
1.180 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE
TAX |
(432.484) |
5.928 |
12.567 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(12.036) |
4.378 |
5.328 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX |
(420.448) |
1.550 |
7.239 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
16.526 |
15.341 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
9.400 |
-- |
|
|
|
Capital Goods |
NA |
393.919 |
-- |
|
|
|
Traded Goods |
|
21.307 |
55.895 |
|
|
TOTAL IMPORTS |
NA |
424.626 |
55.895 |
|
|
|
|
|
|
|
|
|
|
Earnings(Loss)
Per Share (Rs.) |
(8.95) |
0.03 |
0.15 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total
Income |
(%) |
(131.25)
|
1.78 |
4.30 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(137.56)
|
6.74 |
7.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(27.07)
|
0.46 |
2.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(5.59)
|
0.01 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
16.10
|
1.85 |
1.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.43
|
1.01 |
16.07 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by
Info Agents |
Available
in Report (Yes / No) |
|
1] |
Year of
Establishment |
Yes |
|
2] |
Locality of
the firm |
Yes |
|
3] |
Constitutions
of the firm |
Yes |
|
4] |
Premises
details |
No |
|
5] |
Type of
Business |
Yes |
|
6] |
Line of
Business |
Yes |
|
7] |
Promoter's
background |
Yes |
|
8] |
No. of
employees |
No |
|
9] |
Name of
person contacted |
No |
|
10] |
Designation
of contact person |
No |
|
11] |
Turnover of
firm for last 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 |
No |
NOTE:
The above address of the company has been
shifted from 151, GIDC – 1, Mehsana – 384002, Gujarat, India to the present
address (w.e.f.20.06.2008).
UNSECURED LOAN:
|
Particulars |
31.03.2012 [Rs.
in Millions] |
31.03.2011 [Rs.
in Millions] |
|
Long Term
Borrowing |
|
|
|
Rupee term loan from bank |
1.394 |
1.378 |
|
|
|
|
|
Short Term
Borrowing |
|
|
|
Other loan and advance |
71.556 |
31.556 |
|
|
|
|
|
Total |
72.950 |
32.934 |
INDEX CHARGES:
|
S.No.
|
Charge
ID |
Date
of Charge Creation/Modification |
Charge
amount secured |
Charge
Holder |
Address
|
Service
Request Number (SRN) |
|
1 |
10195999
|
09/02/2013
* |
2,161,100,000.00
|
BANK
OF INDIA - BOI CONSORTIUM (BOI+DB+ALL BK) |
AHMEDABAD
LARGE CORPORATE BRANCH, 2ND FLOOR, BOI |
B71604409
|
|
2 |
10148920
|
09/02/2013
* |
2,161,100,000.00
|
BANK
OF INDIA - BOI CONSORTIUM (BOI+DB+ALL BK) |
AHMEDABAD
LARGE CORPORATE BRANCH, 2ND FLOOR, BOI |
B71604060
|
|
3 |
10036268
|
16/03/2011
* |
51,000,000.00
|
BANK
OF INDIA |
AHMEDABAD
LARGE CORPORATE BRANCH, 2ND FLOOR, BOI |
B11869757
|
* Date of charge modification
OPERATIONS OVERVIEW:
Year 2011-12 being
the first year of operation of Manufacturing Division, the Company has to face
initial teething problems and the Company could not utilize its full capacity
for want of adequate working capital funds. During the year , Gas prices and
other input cost has gone up substantially whereas tiles prices have remained
more or less stagnant. For want of working capital funds the company has to
produce low margins tiles instead of value added tiles for which the plant is
meant. In view of above, the company has suffered heavy losses and the same\
trend is continued in the current year.
During the year ,
there was virtually no activity in the trading division which has also affected
the profitability of the company adversely. The Company has decided to
concentrate on manufacturing segment only.
The company is
taking necessary steps to arrange its working capital requirement. The company
is also planning to approach its bankers for enhancement in various credit
facilities to enable the company to utilize its plant capacity fully and start
making profits.
The Company has
set up world class manufacturing facilities and has developed products which
are at par in all respect with any international brand. The products of the
company are well accepted in the market and the company has potential to make
turn around, thecompany is making continuous efforts to make the operation of
the company profitable
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 : |
SVA |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
26 |
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.