MIRA
INFORM REPORT
|
Report Date : |
24.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE CORPORATE IT PARK LIMITED (w.e.f.
10.03.2008) |
|
|
|
|
Formerly Known
As : |
RELENE PETROCHEMICALS LIMITED |
|
|
|
|
Registered
Office : |
Building No. 4, 5TTC Industrial Area, Thane-Belapur
Road, Ghansoli, Navi
Mumbai – 400701, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
02.04.2001 |
|
|
|
|
Com. Reg. No.: |
11-131458 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.29763.200
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74140MH2001PLC131458 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR17044G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCD7169H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing IT
Support Services Including Manpower and All Other Activities. |
|
|
|
|
No. of Employees
: |
Information
declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 110000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There appears accumulated loss recorded by the company during 2013. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. 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.
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.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
Management Non-Cooperative (91-22-44770000 / 44775197)
LOCATIONS
|
Registered Office : |
Building No. 4, 5TTC Industrial Area, Thane-Belapur
Road, Ghansoli, Navi
Mumbai – 400701, Maharashtra, India |
|
Tel. No.: |
91-22-44770000 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 19.08.2013
|
Name : |
Mr. Indubhai Fulchan
Sheth |
|
Designation : |
Director |
|
Address : |
401- A, Falcon Castle CHS Limited, Senapati Bapat Marg, Elphinstone,
Mumbai-400012, Maharashtra, India |
|
Date of Birth/Age : |
02.03.1933 |
|
Date of Appointment : |
23.03.2004 |
|
Din No.: |
00004353 |
|
|
|
|
Name : |
Mr. Rohit Chhannalal
Shah |
|
Designation : |
Director |
|
Address : |
B-901/902 shanker Park Opposite Suman Apartment, Shankar Lane, Kandivali (West), Mumbai-400067, Maharashtra,
India |
|
Date of Birth/Age : |
01.06.1954 |
|
Date of Appointment : |
02.04.2001 |
|
Din No.: |
00006087 |
|
|
|
|
Name : |
Mr. Arvind Bhushan
Modgil |
|
Designation : |
Director |
|
Address : |
T-9/202 Sea Breeze Co-operative HSG Society Limited, Sector 16, Plot
No16, Nerul, Navi
Mumbia-400701, Maharashtra, India |
|
Date of Birth/Age : |
10.10.1949 |
|
Date of Appointment : |
13.09.2004 |
|
Din No.: |
00023544 |
|
|
|
|
Name : |
Mr. Virenderkumar Gandhi |
|
Designation : |
Director |
|
Address : |
15/1101, Seawoods Estates, NRI Complex,
Sector 54, 56 and 58, Navi Mumbai-400706, Maharashtra, India |
|
Date of Birth/Age : |
12.10.1955 |
|
Date of Appointment : |
12.10.2011 |
|
Din No.: |
00012921 |
KEY EXECUTIVES
|
Name : |
Mr. Jagdish R. Vasani
|
|
Designation : |
Manager |
|
Address : |
H 2/ 3 : 1 Panchdeep CHS Limited, Sector 29,
Vashi, Navi Mumbai – 400
705, Maharashtra, India |
|
Date of Birth/Age : |
21.12.1952 |
|
Date of Appointment : |
01.12.2008 |
|
Pan No.: |
AAJPV7710R |
|
|
|
|
Name : |
Shreya Ramkrishnan |
|
Designation : |
Secretary |
|
Address : |
B-305, Archana Ambika
Nagar, Mahatma Gandhi Road, Dombivli
(West), Thane-421202, Maharashtra, India |
|
Date of Birth/Age : |
15.12.1984 |
|
Date of Appointment : |
19.01.2012 |
|
Pan No.: |
ANTPR4313D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 19.08.2013
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Reliance Commercial Land and Infrastructure Limited, India |
|
2379994080 |
|
Arun K Jain jointly with Reliance Commercial Land and Infrastructure
Limited, India |
|
100 |
|
K Sethuraman jointly with Reliance Commercial Land and
Infrastructure Limited, India |
|
100 |
|
Indubhai Sheth jointly with
Reliance Commercial Land and Infrastructure Limited, India |
|
50 |
|
V. Subramaniam jointly with Reliance Commercial Land and
Infrastructure Limited, India |
|
50 |
|
Sridhar Kothandaraman jointly with Reliance Commercial Land and
Infrastructure Limited, India |
|
50 |
|
Raj Mullick jointly with Reliance Commercial
Land and Infrastructure Limited, India |
|
50 |
|
Total |
|
2379994480 |
|
Names of Shareholders (6 % Preferences Shares) |
|
No. of Shares |
|
Shinano Retail Private Limited, India |
|
1332700 |
|
Total |
|
1332700 |
|
Names of Shareholders (2 % Preferences Shares) |
|
No. of Shares |
|
Reliance
Commercial Land and Infrastructure Limited, India |
|
594998620 |
|
Total |
|
594998620 |
As on 19.08.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing IT
Support Services Including Manpower and All Other Activities. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information
declined by the management |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
· State Bank of India, Backbay Reclamation, Mumbai – 400020, Maharashtra, India · HDFC Bank Limited, Vashi Branch, Sector – 17, Vashi, Navi Mumbai – 400703, Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs. In Millions)
|
|||||||||||||||
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
714-715, Tulsiani Chambers,212 Nariman Point, Mumbia:400021, Maharashtra,
India |
|
PAN No.: |
AAAFC0662N |
|
|
|
|
Ultimate Holding
Company : |
Reliance Industries Limited |
|
|
|
|
Holding Companies : |
· Reliance Industrial Investments and Holdings Limited ·
Reliance Commercial Land and Infrastructure
Limited |
|
|
|
|
Subsidiary
Companies : |
· Strategic Manpower Solutions Limited (wef 30.11.2012) · Reliance People Serve Limited (wef 30.11.2012) ·
Reliance Infrastructures Management Services
Limited (wef 30.11.2012) |
|
|
|
|
Fellow Subsidiary
Companies : |
· Reliance Retail Limited · Reliance Retail Insurance Broking Limited · Reliance Fresh Limited · Strategic Manpower Solutions Limited (upto 29.11.2012) · Reliance People Serve Limited (upto 29.11.2012) · Reliance Infrastructures Management Services Limited (upto 29.11.2012) · Reliance Footprint Limited · Reliance Gems and Jewels Limited · Reliance Leisures Limited · Reliance digital Retail Limited · Reliance Autozone Limited · Gapco Uganda Limited · Gapco Kenya Limited · Gapco Tanzania Limited · Gapco Rwanda Limited · Reliance Ventures Limited · Rancore Technologies Private Limited · Reliance Trends Limited · Reliance Jio Infocomm Limited · Reliance Security Solutions Limited · Reliance Home Products Limited · Reliance Haryana SEZ Limited |
CAPITAL STRUCTURE
As on 19.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3495000000 |
Equity Shares |
Rs.10/- each |
Rs.34950.000 Millions |
|
605000000 |
Preferences Shares |
Rs.10/- each |
Rs.6050.000 Millions |
|
|
TOTAL |
|
Rs.41000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2379994480 |
Equity Shares |
Rs.10/- each |
Rs.23799.945
Millions |
|
1332700 |
6 % Preferences Shares |
Rs.10/- each |
Rs.13.327
Millions |
|
594998620 |
2 % Preferences Shares |
Rs.10/- each |
Rs.5949.986
Millions |
|
|
Total |
|
Rs.29763.258 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 |
29763.200 |
26348.300 |
24778.300 |
|
(b) Reserves & Surplus |
(1190.000) |
(1235.100) |
(1242.300) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
28573.200 |
25113.200 |
23536.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1215.200 |
668.300 |
721.700 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
14.000 |
|
Total Non-current Liabilities (3) |
1215.200 |
668.300 |
735.700 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
2289.600 |
2477.000 |
498.800 |
|
(c) Other current
liabilities |
531.300 |
913.000 |
608.000 |
|
(d) Short-term provisions |
213.300 |
85.000 |
26.000 |
|
Total Current Liabilities (4) |
3034.200 |
3475.000 |
1132.800 |
|
|
|
|
|
|
TOTAL |
32822.600 |
29256.500 |
25404.500 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
19460.200 |
15201.200 |
13576.000 |
|
(ii) Intangible Assets |
367.900 |
0.600 |
0.800 |
|
(iii) Capital
work-in-progress |
4911.000 |
5940.300 |
6270.100 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.500 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1968.000 |
1872.200 |
1923.100 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
26708.600 |
23014.300 |
21770.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
250.000 |
0.000 |
|
(b) Inventories |
49.600 |
45.800 |
4.500 |
|
(c) Trade receivables |
3409.300 |
2723.100 |
249.000 |
|
(d) Cash and cash
equivalents |
1.000 |
3.500 |
54.200 |
|
(e) Short-term loans and
advances |
2647.200 |
3214.500 |
3323.500 |
|
(f) Other current assets |
6.900 |
5.300 |
3.300 |
|
Total Current Assets |
6114.000 |
6242.200 |
3634.500 |
|
|
|
|
|
|
TOTAL |
32822.600 |
29256.500 |
25404.500 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
20427.200 |
8851.300 |
5052.800 |
|
|
|
Other Income |
31.000 |
18.900 |
11.500 |
|
|
|
TOTAL (A) |
20458.200 |
8870.200 |
5064.300 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefit Expense |
4916.900 |
3116.500 |
2870.300 |
|
|
|
Other Expenses |
14651.200 |
4999.600 |
1281.800 |
|
|
|
TOTAL (B) |
19568.100 |
8116.100 |
4152.100 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
890.100 |
754.100 |
912.200 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
49.400 |
73.800 |
115.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
840.700 |
680.300 |
796.400 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
785.800 |
671.600 |
791.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
54.900 |
8.700 |
5.300 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
9.900 |
1.400 |
1.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
45.000 |
7.300 |
4.200 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(1254.700) |
(1262.000) |
(1269.800) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1209.700) |
(1254.700) |
(1262.000) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.02 |
0.00 |
0.03 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.22
|
0.08 |
0.08 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.27
|
0.10 |
0.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.20
|
0.04 |
0.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.04
|
0.03 |
0.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.02
|
1.80 |
3.21 |
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 |
24778.300 |
26348.300 |
29763.200 |
|
Reserves & Surplus |
(1242.300) |
(1235.100) |
(1190.000) |
|
Net
worth |
23536.000 |
25113.200 |
28573.200 |
|
|
|
|
|
|
long-term borrowings |
721.700 |
668.300 |
1215.200 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
721.700 |
668.300 |
1215.200 |
|
Debt/Equity
ratio |
0.031 |
0.027 |
0.043 |
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 |
5052.800 |
8851.300 |
20427.200 |
|
|
|
75.176 |
130.782 |
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 |
5052.800 |
8851.300 |
20427.200 |
|
Profit |
4.200 |
7.300 |
45.000 |
|
|
0.08% |
0.08% |
0.22% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT: Not Available
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
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 registered office of the company has been shifted from 3rd
Floor, Court House, Lokmanya
Tilak Marg, Dhobi Talao, Mumbai – 400002, Maharashtra,
India to present address w.e.f. 01.07.2013
UNSECURED LOAN
Rs. In
Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
939.000 |
300.000 |
|
Total |
939.000 |
300.000 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
- Buildings
- Plant and
Machinery
- Electrical
Installation
- Equipments
- Furniture and
Fixtures
- Vehicles
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.61.07 |
|
|
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.84.49 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
|
30 |
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.