MIRA
INFORM REPORT
|
Report Date : |
16.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
HARE KRISHNA METALLICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
T-11, 12 Jairam Complex, IInd Phase, 3rd Floor, Nevgi
Nagar, Mala, Panaji - 403001, Goa |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
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|
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Date of Incorporation
: |
10.01.2005 |
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|
|
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Com. Reg. No.: |
24-006063 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.260.784 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109GA2005PTC006063 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCH5291E |
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|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the production of Sponge (2*165mpd) and
generation of Power (12 MW). |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
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 2014000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record. Profitability of the company is fair. General financial position of
the company seems to be decent. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered 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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may grow
4.7 % in the current financial year, lower than the official estimate of 4.9 %,
Fitch Rating said. The global rating agency expects the economy to pick up in
the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term loan facilities BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
September 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based facilities A3 |
|
Rating Explanation |
Moderate degree of safety and high credit
risk. |
|
Date |
September 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 PARTED BY
|
Name : |
Mr. Gajendra Babu |
|
Designation : |
Finance Head |
|
Contact No.: |
91-9822125812 |
|
Date : |
12.04.2014 |
LOCATIONS
|
Registered Office : |
T-11, 12 Jairam Complex, II nd Phase, 3rd Floor, Nevgi
Nagar, Mala, Panaji - 403001, Goa, India |
|
Tel. No. : |
91-832-2424806-07
/ 3290625 |
|
Mobile No. : |
Not Available |
|
Fax No. : |
91-9822125812 (Mr. Gajendra Babu) |
|
E-Mail : |
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|
Website : |
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|
Factory 1 : |
Survey No.20, Hirebaganal, Kasan Kandi Road, Koppal Dist., Karnataka - 583 228, West Bengal, India |
|
Tel. No. : |
91-8539-264122-24 |
|
Fax No. : |
91-8539-264125 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Sandeep Kumar Agarwal |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing director |
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|
Address : |
V – 23, Kamat Villa Caranzalem, Panaji – 403001, North Goa, Goa,
India |
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Date of Birth/Age : |
27.041976 |
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Date of Appointment : |
19.05.2006 |
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PAN No. : |
AAWPA2928D |
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DIN No. : |
00093355 |
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Other Directorship :
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Name : |
Ms. Shruti Agarwal |
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Designation : |
Director |
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|
Address : |
V – 23, Kamat Villa Caranzalem, Panaji – 403001, North Goa, Goa,
India |
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Date of Birth/Age : |
10.12.1980 |
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Date of Appointment : |
19.05.2006 |
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PAN No. : |
ACDPA1026H |
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DIN No. : |
00093027 |
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Other Directorship :
|
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KEY EXECUTIVES
|
Name : |
Mr. Gajendra Babu |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
%age |
|
Annapurna Agarwal |
1200000 |
4.60 |
|
Sandeep Agarwal |
7520000 |
28.84 |
|
Shruti Agarwal |
3200000 |
12.27 |
|
Sandeep Agarwal (HUF) |
1608000 |
6.17 |
|
Mohit Steel Industries Private Limited, India |
4802400 |
18.42 |
|
Mandovi Casting Private Limited, India |
20000 |
0.08 |
|
Thanwas Investments Limited, India |
528000 |
2.02 |
|
Ores India Limited, India |
7200000 |
27.61 |
|
Total |
26078400 |
100.00 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
48.13 |
|
Directors or relatives of Directors |
51.87 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the production of Sponge (2*165mpd) and
generation of Power (12 MW). |
GENERAL INFORMATION
|
No. of Employees : |
300 (Approximately) |
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Bankers : |
¨ State
Bank of India, Industrial Finance Branch, Mumbai ¨ State
Bank of Mysore, Panjim Branch, Goa ¨ State
Bank of India, Koppal Branch, Karnataka ¨ Punjab
National Bank, Panjim Branch, Goa ¨
State Bank of India, Mid Corporate Loan
Administration Unit, Shri Hari, Building, R.T.O. Lane, Four Bungalows,
Andheri (West), Mumbai - 400053, Maharashtra, India ¨ State Bank of
India Commercial Branch Shyamkamal Trade Centre, Agarwal Market, Vile Parle
(East), Mumbai - 400057, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
V.B. Geol and Company Chartered Accountants |
|
Address : |
2 and 3, Ajay
Apartment, Kasturba Cross Road, Malad (West), Mumbai, Maharashtra, India |
|
PAN
No. : |
AACPG6633R |
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|
|
|
Associates : |
² Mohit Steel Industries
Private Limited CIN No.: U27106GA1997PTC002370 ² Mandovi Casting
Private Limited CIN No.: U27106GA1996PTC002137 ² Ores India
Private Limited CIN No.: U13100OR1997PTC004858 ² Hanuman Infra
Energy Limited CIN No.: U40101KA2009PLC050960 ² Sarvesh
Refractories Limited CIN No.: U26999OR1992PLC003209 |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26078400 |
Equity Shares |
Rs.10/- each |
Rs.260.784 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
260.784 |
260.784 |
260.784 |
|
(b) Reserves & Surplus |
229.787 |
179.981 |
144.127 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
13.100 |
13.100 |
5.100 |
|
Total
Shareholders’ Funds (1) + (2) |
503.671 |
453.865 |
410.011 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
167.318 |
263.814 |
357.196 |
|
(b) Deferred tax liabilities (Net) |
71.607 |
74.142 |
69.495 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
22.515 |
1.207 |
3.101 |
|
Total
Non-current Liabilities (3) |
261.440 |
339.163 |
429.792 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term borrowings |
133.186 |
145.231 |
152.124 |
|
(b) Trade payables |
224.864 |
189.567 |
259.156 |
|
(c) Other current liabilities |
105.852 |
114.976 |
109.735 |
|
(d) Short-term provisions |
11.612 |
8.761 |
8.183 |
|
Total
Current Liabilities (4) |
475.514 |
458.535 |
529.198 |
|
|
|
|
|
|
TOTAL |
1240.625 |
1251.563 |
1369.001 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
789.011 |
825.247 |
865.724 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
11.491 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.790 |
0.429 |
1.429 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
30.695 |
12.802 |
8.415 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
821.496 |
849.969 |
875.568 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
196.903 |
156.096 |
222.265 |
|
(c) Trade receivables |
131.513 |
123.906 |
177.067 |
|
(d) Cash and cash equivalents |
17.903 |
46.478 |
18.868 |
|
(e) Short-term loans and advances |
72.810 |
75.114 |
75.233 |
|
(f) Other current assets |
0.000 |
0.000 |
|
|
Total
Current Assets |
419.129 |
401.594 |
493.433 |
|
|
|
|
|
|
TOTAL |
1240.625 |
1251.563 |
1369.001 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2354.664 |
2429.006 |
1911.326 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
2160.807 |
2219.067 |
1701.742 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
193.857 |
209.939 |
209.584 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
82.791 |
106.588 |
88.372 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
111.066 |
103.351 |
121.212 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
51.750 |
51.307 |
41.811 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
59.316 |
52.044 |
79.401 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
9.511 |
16.190 |
42.498 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
49.805 |
35.854 |
36.903 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.91 |
1.37 |
1.41 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.12 |
1.48 |
1.93 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.79 |
4.20 |
5.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.11 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.60 |
0.90 |
1.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.88 |
0.88 |
0.93 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
260.784 |
260.784 |
260.784 |
|
Reserves & Surplus |
144.127 |
179.981 |
229.787 |
|
Share Application money
pending allotment |
5.100 |
13.100 |
13.100 |
|
Net
worth |
410.011 |
453.865 |
503.671 |
|
|
|
|
|
|
long-term borrowings |
357.196 |
263.814 |
167.318 |
|
Short term borrowings |
152.124 |
145.231 |
133.186 |
|
Total
borrowings |
509.320 |
409.045 |
300.504 |
|
Debt/Equity
ratio |
1.242 |
0.901 |
0.597 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1911.326 |
2429.006 |
2354.664 |
|
|
|
27.085 |
(3.061) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1911.326 |
2429.006 |
2354.664 |
|
Profit |
36.903 |
35.854 |
49.805 |
|
|
1.93% |
1.48% |
2.12% |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
39.660 |
34.585 |
|
|
|
|
|
Total |
39.660 |
34.585 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10030698 |
11/08/2008 * |
992,800,000.00 |
STATE BANK OF INDIA |
MID CORPORATE LOAN ADMINISTRATION UNIT,SHRI HARI, BUILDING, R.T.O.
LANE, FOUR BUNGLOWS, ANDHERI (W), MUMBAI, Maharashtra - 400053, INDIA |
A46406005 |
|
2 |
10030713 |
11/08/2008 * |
992,800,000.00 |
STATE BANK OF INDIA |
MID CORPORATE LOAN ADMINISTRATION UNIT,SHRI HARI, BUILDING, R.T.O.
LANE, FOUR BUNGLOWS, ANDHERI (W), MUMBAI, Maharashtra - 400053, INDIA |
A46376885 |
* Date of charge modification
COMPANY PROFILE
Mr. Sandeep Agarwal, an Industrialist is engaged in the business of Steel for more than a decade now and is the promoter of M/s. Hare Krishna Metallics Private Limited, a Company incorporated under the Indian Companies Act 1956 and engaged in the production of Sponge (2*165mpd) and generation of Power (12 MW). The Company is situated at Hirebaganal village in Koppel district of Karnataka. Also he is the Owner and Managing Director of two Induction Furnace Units namely M/s Mohit Steel Industries Private Limited and M/s Mandovi Casting Private Limited each of capacity (100 TPD) in Goa.
The Company’s Sponge Iron unit located in Karnataka is running on Charge Pre-heat technology, a first of its kind in India. Under this technology, hot flue gases generated during the DRI process of Iron Ore are utilized for preheating the Iron Ore thereby resulting in reduction of Coal consumption and increase in productivity. It has also taken up Sponge Iron manufacturing as a CDM Project.
A 12 MW Power Plant has also been commissioned in the same premises consisting of 2 Waste Heat Recovery Boilers designed to produce 4MW power and one AFBC boiler to generate 8 MW power by utilization of waste/bye products such as dolochar and Coal fines. Waste Heat Recovery Boiler at the end of Pre heater Kiln is the first of its kind in the country to be made successfully operational.
The Company is Eco friendly company and equipped with latest technology pollution control equipment’s such as Electro Static Precipitators and Bag Filters to ensure least stack / Particulate emissions. A green belt is also maintained in the premises. As a measure to reduce water wastage, an Air Cooled Condenser has been preferred over the conventional Water Cooled Condenser.
The group has a consistent record of performance both in terms of Sales and Profitability.
The group turnover for FY 2012-2013 was around Rs.3750.000 millions which has been showing increasing trend over the past few years.
REVIEW OF OPERATIONS:
During the year
the net profit has been Rs 49.800 millions as against Rs 35.800 millions during
the previous financial year. Net sales of the Company decreased to Rs 2352.400
millions as against Rs. 2427.800 millions. The Directors are continuously
looking for avenues for future growth of the Company.
FIXED ASSETS
œ
Land
œ
Buildings
œ
Plant and equipment
œ
Furniture and fixtures
œ
Vehicles
œ
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 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.60.26 |
|
|
1 |
Rs.100.71 |
|
Euro |
1 |
Rs.83.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
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 |
|
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.