MIRA
INFORM REPORT
|
Report Date : |
25.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
SDV INTERNATIONAL LOGISTICS LIMITED (w.e.f. 01.05.2008) |
|
|
|
|
Formerly Known
as : |
SDV AIR LINK INDIA LIMITED AIR LINK INDIA PRIVATE LIMITED |
|
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|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2013 |
|
|
|
|
Date of
Incorporation : |
06.03.1989 |
|
|
|
|
Com. Reg. No.: |
21-046384 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 29.779 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U50102WB1989PLC046384 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALA01045C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCA6939R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is in the freight forwarding and logistics
business. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1368000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Financial position of the company seems to be decent. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 that 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.
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 DECLINED BY
|
Name : |
Mr. Shivshankar Roy |
|
Designation : |
Office Executive |
|
Contact No.: |
91-33-39800700 |
|
Date : |
23.08.2014 |
LOCATIONS
|
Registered Office : |
7 Kyd Street, 5th Floor, Kankaria Court, Kolkata – 700016,
West Bengal, India |
|
Tel. No. : |
91-33-39800605/ 39800700 |
|
Fax No. : |
91-33-22273838/ 39800619 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
N-23, Royal Estate, Mount Road, Saidapet, Chennai – 600015, Tamilnadu,
India |
DIRECTORS
As on 21.04.2014
|
Name : |
Jean Marie Bertrand De Pouilly |
|
Designation : |
Director |
|
Address : |
32, Rue Jouff Roy, D Abbans, Paris, France, 750117 |
|
Date of Birth/Age : |
20.06.1960 |
|
Qualification : |
Finance Degree |
|
Date of Appointment : |
20.05.2013 |
|
DIN No. : |
01305910 |
|
|
|
|
Name : |
Dhananjoy Ghosh |
|
Designation : |
Director |
|
Address : |
35/2, Tollygunge Circular Road, Kokata – 700053, West Bengal, India |
|
Date of Birth/Age : |
30.09.1949 |
|
Qualification : |
Company Secretary |
|
Date of Appointment : |
21.04.2014 |
|
Voter ID No. : |
WB/23/150/081665 |
|
DIN No. : |
03229951 |
|
|
|
|
Name : |
Herbert Guy Raoul Joseph Marie De Rouvroy De Saint Simon |
|
Designation : |
Director |
|
Address : |
70, Rue Du Rocher, Paris, France, 75008 |
|
Date of Birth/Age : |
15.10.1952 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
21.04.2014 |
|
DIN No. : |
02599984 |
|
|
|
|
Name : |
Eric Amar |
|
Designation : |
Director |
|
Address : |
1 AV, Fontaine De Lavre, 82, Rue Suresnes, Garches, France, 92380 |
|
Date of Birth/Age : |
13.11.1963 |
|
Qualification : |
Legal Degree |
|
Date of Appointment : |
20.05.2013 |
|
DIN No. : |
03631377 |
|
|
|
|
Name : |
Jerome Gilles Petit |
|
Designation : |
Director |
|
Address : |
3, Cotswold Close, Singapore, 359602 |
|
Date of Birth/Age : |
04.02.1968 |
|
Date of Appointment : |
05.03.2014 |
|
DIN No. : |
06822491 |
KEY EXECUTIVES
|
Name : |
Piyali Kar |
|
Designation : |
Secretary |
|
Address : |
P-93, Sardar Sankar Road, Kolkata – 700029, West Bengal, India |
|
Date of Birth/Age : |
21.01.1970 |
|
Date of Appointment : |
18.07.2005 |
|
PAN No. : |
AENPK1949P |
|
|
|
|
Name : |
Mr. Shivshankar Roy |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 21.04.2014
|
Names of Shareholders |
No. of Shares |
|
Sukanta Dey |
9 |
|
SDV USA INC, USA |
297749 |
|
Sandip Sengupta |
11 |
|
Sankar Biswas |
1 |
|
Priti Suri |
4 |
|
Shalini Mahay |
3 |
|
Khadka Bahudur |
4 |
|
Piyali Kar |
4 |
|
Hari Mondal |
3 |
|
Total |
297788 |
As on 21.04.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
99.99 |
|
Others |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is in the freight forwarding and logistics
business. |
||||
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|
||||
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Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
· The Hongkong and Shanghai Banking Corporation Limited, Hongkong House, 31 B B D Bag, Kolkata - 700001, West Bengal, India Citibank NA, Kanak Building, 41,Chowringhee Road, Kolkata
- 700071, West Bengal, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
7th Floor, Building 10, Tower B, DLF Cyber City Complex, DLF City, Phase - II, Gurgaon – 122002, Haryana, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFD2095B |
|
|
|
|
Holding Company : |
SDV USA Inc, United States |
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|
|
|
Fellow Subsidiaries
: |
· Bollore Africa Logistics Cote d’Ivorie Bollore Africa Logistics Benin SDV Chilli SDV Guinea Sa. Antrak Logistics Pty Limited SDV Logistics Singapore Pte Limited SDV GEIS GmbH SDV Logistiques Canada Inc. Bollore Africa Logistics RDC Bollore Africa Logistics Tchad Bollore Africa Logistics Mozambique SDV Malaysia SDV Argentine SDV Australia Pty Limited SDV Mexico Saga France SDV Nederland BV SDV Belgium SDV New Zealand Bernard Forwarding Limited Bollore Africa Logistics Niger SDV Brasil Ltda SDV Pakistan Bollore Africa Logistics Burkina Faso SDV Luxembourg SDV Guyane SDV Philippines Bollore Africa Logistics Nigeria SDV Portugal SDV PRC International Freight Forwarding Co SDV China Limited Bollore Africa Logistics South Africa Bollore Africa Logistics Gabon SDV Taiwan Bollore Africa Logistics Ghana Limited SDV Logistics (Thailand) Co Limited SDV Hong Kong Bollore Africa Logistics Burundi SDV Horoz Bollore Africa Logistics Rwanda Limited Bollore Africa Logistics Madagascar Saga Martinique Transit Litte (SMTL) SDV Italia Bollore Africa Logistics Tanzania Limited SDV Japan KK Bollore Africa Logistics Uganda Limited SDV Korea Bollore Africa Logistics Cameroun TSL South East Asia Hub Pte Limited PT SDV Logistics Indonesia Bollore Africa Logistics Kenya Limited SDV Vietnam Limited Bollore Africa Logistics Zambie Sogetra Bollore Africa Logistics Senegal SDV SAEL Limited Bollore Africa Logistics Congo Logistics Support Services Limited SDV Logistics East Timor Amatransit NC SDV Bangladesh Tiba International SDV Suisse Sa. SDV Cambodge Bollore Africa Logistics Mali SDV Asia Pacific Corporate Pte Limited SDV Noumea ( TTI) |
CAPITAL STRUCTURE
As on 31.12.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300,000 |
Equity Shares |
Rs.100/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
297,788 |
Equity Shares |
Rs.100/- each |
Rs. 29.779 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
29.779 |
29.779 |
29.779 |
|
(b) Reserves & Surplus |
312.261 |
274.754 |
266.816 |
|
(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) |
342.040 |
304.533 |
296.595 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
1.711 |
|
(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 |
0.000 |
|
Total Non-current Liabilities (3) |
0.000 |
0.000 |
1.711 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
20.286 |
60.256 |
30.989 |
|
(b) Trade payables |
674.478 |
527.951 |
420.929 |
|
(c) Other current liabilities |
46.359 |
52.703 |
38.569 |
|
(d) Short-term provisions |
10.243 |
16.516 |
32.733 |
|
Total Current Liabilities (4) |
751.366 |
657.426 |
523.220 |
|
|
|
|
|
|
TOTAL |
1093.406 |
961.959 |
821.526 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
30.353 |
34.628 |
29.299 |
|
(ii) Intangible Assets |
2.501 |
3.944 |
3.656 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.025 |
0.025 |
0.025 |
|
(c) Deferred tax assets (net) |
35.973 |
32.968 |
22.647 |
|
(d) Long-term Loan and Advances |
98.694 |
187.814 |
47.574 |
|
(e) Other Non-current assets |
5.151 |
6.071 |
3.508 |
|
Total Non-Current Assets |
172.697 |
265.450 |
106.709 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
716.973 |
564.029 |
583.774 |
|
(d) Cash and cash
equivalents |
18.227 |
27.826 |
82.533 |
|
(e) Short-term loans and
advances |
185.126 |
104.494 |
48.304 |
|
(f) Other current assets |
0.383 |
0.160 |
0.206 |
|
Total Current Assets |
920.709 |
696.509 |
714.817 |
|
|
|
|
|
|
TOTAL |
1093.406 |
961.959 |
821.526 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4788.543 |
4140.508 |
3644.866 |
|
|
|
Other Income |
10.383 |
18.016 |
23.312 |
|
|
|
TOTAL (A) |
4798.926 |
4158.524 |
3668.178 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
4040.644 |
3457.601 |
3046.064 |
|
|
|
Employees benefits expense |
334.671 |
291.883 |
254.473 |
|
|
|
Other expenses |
262.406 |
296.743 |
234.628 |
|
|
|
TOTAL (B) |
4637.721 |
4046.227 |
3535.165 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
161.205 |
112.297 |
133.013 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.760 |
51.112 |
2.905 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
153.445 |
61.185 |
130.108 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.850 |
13.986 |
12.192 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
141.595 |
47.199 |
117.916 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
59.494 |
28.878 |
51.767 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
82.101 |
18.321 |
66.149 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
1336.010 |
1007.080 |
1052.000 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
275.70 |
61.52 |
222.14 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
PAT / Total Income |
(%) |
1.71 |
0.44 |
1.80 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.96 |
1.14 |
3.24 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.39 |
5.08 |
14.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.41 |
0.15 |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.06 |
0.20 |
0.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23 |
1.06 |
1.37 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
29.779 |
29.779 |
29.779 |
|
Reserves & Surplus |
266.816 |
274.754 |
312.261 |
|
Net
worth |
296.595 |
304.533 |
342.040 |
|
|
|
|
|
|
long-term borrowings |
1.711 |
0.000 |
0.000 |
|
Short term borrowings |
30.989 |
60.256 |
20.286 |
|
Total
borrowings |
32.700 |
60.256 |
20.286 |
|
Debt/Equity
ratio |
0.110 |
0.198 |
0.059 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3644.866 |
4140.508 |
4788.543 |
|
|
|
13.598 |
15.651 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2011 |
31.12.2012 |
31.12.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3644.866 |
4140.508 |
4788.543 |
|
Profit |
66.149 |
18.321 |
82.101 |
|
|
1.81% |
0.44% |
1.71% |
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
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 |
No |
|
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 |
Yes |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOANS
|
PARTICULAR |
31.12.2013 (Rs.
In Millions) |
31.12.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand from banks |
20.286 |
60.256 |
|
Total |
20.286 |
60.256 |
CHANGE OF ADDRESS
The registered office of the company has been shifted from 34, Allenby Road, Kolkata – 700020, West Bengal, India to the present address w.e.f. 31.10.2006.
GENERAL
INFORMATION ABOUT COMPANY
Subject is a non-listed public limited Company registered in India. The Company is in the freight forwarding and logistics business having tie-ups with prominent air and sea carriers and currently operates through 17 locations across India
FINANCIAL RESULTS
The profitability of the Company has improved mainly due to the decrease in general expenses, interest and depreciation and a marginal increase in operational expenses. During the year the air and sea freight rates remained stable.
FIXED ASSETS
Tangible Assets
· Furniture and Fixtures
Vehicles
Motor
Vehicles
Office
Equipment
Computer
Equipments
Other
Equipments
Leasehold
Improvements
Intangible Assets
· Brands and Trade Marks
Computer
Software
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.60.44 |
|
|
1 |
Rs.100.24 |
|
Euro |
1 |
Rs.80.35 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
49 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.