MIRA
INFORM REPORT
|
Report Date : |
08.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHRI ASHUTOSH STRUCTURES PRIVATE LIMITED SHRI ASHUTOSH ENGINEERING INDUSTRIES (DIVISION OF SHRI ASHUTOSH
STRUCTURES PRIVATE LIMITED) |
|
|
|
|
Registered
Office : |
434/9, 431/6 Industrial Area, Village Jarwah Hirapur, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
02.12.2002 |
|
|
|
|
Com. Reg. No.: |
10-015421 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.116.965 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40109CT2002PTC015421 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JBPS03664D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCM4817F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The company is engaged in the business of manufacturing fabrication and Galvanisation of steel structures, pipes tower parts, sub-station structures, electrification parts, communication tower and masts, railway structures etc. |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to influence
each other in ways that could be very complex and far-reaching. The prospects
of the India’s economy have been seriously compromised due to political
corruption. High inflation, poor standard of living are to a great extent a
result of rampant corruption in the country. China on the other hand, seems to
be facing diametrically opposite challenge. American hedge fund manager Jim
Chanos has been keenly following the political and economic development in the
dragon economy and has figured out something that is quite worrying. He is of
the view that the Chinese economy could be heading toward trouble on account of
new Chinese President Xi Jingping’s very aggressive anti-corruption drive.
Chanos believes tat many things such as apartment sales, luxury products, etc.
were largely bought with dirty money. And it is now beginning to impact
consumption. This may indeed be bad news for an economy that is struggling to
transition from an investment-driven export-oriented economy to a domestic
consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = BB+ |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
23.10.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
23.10.2013 |
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Virendra Kumar Agrawal |
|
Designation : |
Director |
|
Contact No.: |
91-9329100363 |
|
Date : |
07.08.2014 |
LOCATIONS
|
Registered Office : |
434/9, 431/6 Industrial Area, Village Jarwah Hirapur, Raipur - 492099,
Chhattisgarh |
|
Tel. No.: |
91-771-2325566 / 2325518 / 2325517 / 4016218 |
|
Mobile No.: |
91-9329100363 (Mr. Virendra Kumar Agrawal) |
|
Fax No.: |
91-771-2327795 / 2325517 |
|
E-Mail : |
DIRECTORS
As on 27.09.2013
|
Name : |
Mr. Omprakash Agrawal |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
H. No. 44/1136, Plot No. 6/28, Doongaji Colony, Raipur - 492001,
Chhattisgarh, India. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
30.04.1968 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
02.12.2002 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
ACJPA2375F |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00293247 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Virendra Kumar Agrawal |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Infront of Atul Plyood, Vill Jarway Hirapur, Raipur - 492099, |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
21.04.1960 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
02.12.2002 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
ACJPA4921B |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00293367 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Basant Kumar Agrawal |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Behind Shitla Mata Mandir, Danganiya, Raipur - 492013, |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
20.01.1961 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
02.12.2002 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No.: |
ACIPA5940K |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00293472 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Kundan Lal Agrawal |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Behind Shitla Mata Mandir, Danganiya, Raipur - 492013, Chhattisgarh,
India. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
19.09.1966 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
02.12.2002 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02400803 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS
As on 27.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Virendra Kumar Agrawal |
|
1692250 |
|
Basant Kumar Agrawal |
|
1375500 |
|
Omprakash Agrawal |
|
1487500 |
|
Kundan Lal Agrawal |
|
147500 |
|
Sangita Agrawal |
|
45750 |
|
Krishna Agrawal |
|
9750 |
|
Mamta Agrawal |
|
521750 |
|
Babita Agrawal |
|
952750 |
|
Dulichand Agrawal |
|
130748 |
|
Basant Kumar Agrawal and Sons HUF |
|
40750 |
|
Sampurna Impex Private Limited, India |
|
2340200 |
|
M.I. Agencies |
|
1 |
|
Vinayaka Agencies |
|
1 |
|
Cap Vanijya Private Limited |
|
2952000 |
|
Total |
|
11696450 |
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2013
|
Category |
Percentage |
|
Bodies corporate |
45.00 |
|
Directors or relatives of Directors |
55.00 |
|
Total |
100.00 |
%20-%20280316%2008-Aug-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of manufacturing fabrication and Galvanisation of steel structures, pipes tower parts, sub-station structures, electrification parts, communication tower and masts, railway structures etc. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
Punjab and Sind Bank. 161, Mount Road, Chennai, Chennai -
600002, Tamilnadu, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
Notes: a)
The loan from shareholders carry interest @ 10% p.a. and are
repayable on demand. b)
The company does not have any continuing defaults in repayment
of loans and interest as at the reporting date. Cash credit from bank is secured against first charge
of the entire current assets including hypothecation of entire current assets
of the company including stocks at the company's premises or at such places
as may be approved by the Bank from time to time including stock-in-transit,
book debts, receivables including those purchased/discounted. The cash credit
is repayable on demand and carries interest @ Base Rate + 3.25%. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sanjib Jain and Associates Chartered Accountant |
|
Address : |
243, 2nd Floor, Rishabh Complex, |
|
Tel. No.: |
91-771-2292616/4283616 |
|
E-Mail : |
|
|
PAN No.: |
ABJFS9725J |
|
|
|
|
Associates Company : |
·
Cap
Vanijya Private Limited CIN No.: U51109WB1995PTC072921 |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
·
Sampurn
Impex Private Limited CIN No.: U51909WB1993PTC061208 ·
Khyati
Ispat Private Limited CIN No.: U40300CT1996PTC011006 ·
Manglam Agricultures and Farms
Private Limited, Raipur · Vimal Prakash Road Carrier, Raipur ·
Khyati Steels, Raipur |
CAPITAL STRUCTURE
As on 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11696450 |
Equity Shares |
Rs.10/- each |
Rs.116.965 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 |
116.965 |
55.305 |
49.265 |
|
(b) Reserves & Surplus |
302.314 |
219.133 |
169.212 |
|
(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) |
419.279 |
274.438 |
218.477 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.771 |
18.943 |
25.092 |
|
(b) Deferred tax liabilities (Net) |
6.045 |
5.759 |
5.951 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
14.513 |
31.084 |
11.393 |
|
Total Non-current Liabilities (3) |
22.329 |
55.786 |
42.436 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
413.614 |
361.297 |
301.528 |
|
(b) Trade payables |
22.658 |
7.463 |
9.309 |
|
(c) Other current
liabilities |
321.388 |
138.777 |
110.211 |
|
(d) Short-term provisions |
56.346 |
41.113 |
42.917 |
|
Total Current Liabilities (4) |
814.006 |
548.650 |
463.965 |
|
|
|
|
|
|
TOTAL |
1,255.614 |
878.874 |
724.878 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
122.864 |
100.472 |
95.017 |
|
(ii) Intangible Assets |
0.210 |
0.120 |
0.000 |
|
(iii) Capital
work-in-progress |
17.442 |
9.656 |
8.512 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
17.566 |
17.560 |
17.560 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
98.405 |
57.973 |
33.258 |
|
(e) Other Non-current assets |
9.378 |
10.864 |
17.069 |
|
Total Non-Current Assets |
265.865 |
196.645 |
171.416 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
30.000 |
0.000 |
0.000 |
|
(b) Inventories |
592.205 |
409.057 |
330.153 |
|
(c) Trade receivables |
48.261 |
44.324 |
147.354 |
|
(d) Cash and cash
equivalents |
53.253 |
3.285 |
7.016 |
|
(e) Short-term loans and
advances |
261.022 |
221.766 |
63.168 |
|
(f) Other current assets |
5.008 |
3.797 |
5.771 |
|
Total Current Assets |
989.749 |
682.229 |
553.462 |
|
|
|
|
|
|
TOTAL |
1,255.614 |
878.874 |
724.878 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
GROSS SALES |
2252.800 |
NA |
1400.000 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
146.864 |
117.570 |
101.660 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
50.349 |
41.501 |
31.876 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
96.515 |
76.069 |
69.784 |
|
|
|
|
|
|
|
Add/ Less |
DEPRECIATION/
AMORTISATION |
14.628 |
13.524 |
13.292 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
81.887 |
62.545 |
56.492 |
|
|
|
|
|
|
|
Less |
TAX |
26.785 |
20.810 |
19.659 |
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
55.102 |
41.735 |
36.833 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
151.367 |
110.506 |
74.037 |
|
|
|
|
|
|
|
Add/ Less |
ADJUSTING RELATING
TO EARLIER YEAR |
(0.239) |
0.874 |
0.364 |
|
|
BALANCE CARRIED
TO THE B/S |
206.708 |
151.367 |
110.506 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.43 |
8.19 |
8.33 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.71 |
7.34 |
8.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.23 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.99 |
1.39 |
1.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22 |
1.24 |
1.19 |
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 |
49.265 |
55.305 |
116.965 |
|
Reserves & Surplus |
169.212 |
219.133 |
302.314 |
|
Net
worth |
218.477 |
274.438 |
419.279 |
|
|
|
|
|
|
long-term borrowings |
25.092 |
18.943 |
1.771 |
|
Short term borrowings |
301.528 |
361.297 |
413.614 |
|
Total
borrowings |
326.620 |
380.240 |
415.385 |
|
Debt/Equity
ratio |
1.495 |
1.386 |
0.991 |
%20-%20280316%2008-Aug-2014_files/image004.gif)
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
two 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 |
OPERATIONS:
The company is engaged in the business of manufacturing fabrication and Galvanisation of steel structures, pipes tower parts, sub-station structures, electrification parts, communication tower and masts, railway structures etc.
FINANCIAL
PERFORMANCE:
During the year, the company has witnessed a robust growth and its gross sales increased to Rs.2252.800 Millions representing an income of 58.01% over the previous year. The net profit after taxes increased to Rs.55.100 Millions from Rs.41.700 Millions in previous years.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90209381 |
18/02/2013 * |
645,000,000.00 |
State Bank of India |
Commercial Branch, 2nd Floor,, Pujari Chambers, Pachpedi Naka,, Raipur, Chhattisgarh - 492001, India |
B69728558 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.61.41 |
|
|
1 |
Rs.103.42 |
|
Euro |
1 |
Rs.82.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
44 |
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.