MIRA
INFORM REPORT
|
Report Date : |
27.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
JSK INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
9 A.K. Naik Marg, Near Empire Cinema, CST (VT), Mumbai - 400001, |
|
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|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.09.2005 |
|
|
|
|
Com. Reg. No.: |
11-156332 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 146.515
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100MH2005PTC156332 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMJ11408F |
|
|
|
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PAN No.: [Permanent Account No.] |
AABCJ5937F |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Manufacturing and Trading of Aluminium Products and Conductors. |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
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Litigation : |
Clear |
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Comments : |
Subject is an established company having good track record. Fundamental of the company is decent. Financial position of the
company is strong and healthy. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be regular and as per commitment. 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) |
|
|
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.
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
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
.
. Ukrain’s clashes with rebels hinder MH17 crash investigation
.
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in
. 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 |
ICRA |
|
Rating |
Long term fund based facilities [TL] = A- |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
July 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term non-fund based facilities [LC] =
A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
July 2014 |
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. Anish Shah |
|
Designation : |
Director |
|
Contact No.: |
91-9323283245 |
|
Date : |
26.08.2014 |
LOCATIONS
|
Registered Office : |
9 A.K. Naik Marg, Near Empire Cinema, CST (VT), Mumbai - 400001, |
|
Tel. No.: |
91-22-66550777/ 66253700 |
|
Mobile No.: |
91-9323283245 [Mr. Anish Shah] |
|
Fax No.: |
91-22-66550780 |
|
E-Mail : |
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|
Website: |
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|
|
|
|
Factory 1 : |
Survey No. 369/1/2, Behind Siyaram Silk Mills Limited, Village Sayli, Silvassa-396230,
Dadra and Nagar Haveli, U.T. India |
|
|
|
|
Factory 2 : |
Survey No. 126/1, Near |
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|
|
|
Branch Office : |
002, Kanchandeep, |
|
Tel. No.: |
91-79-26302658/ 65423222 |
|
Fax No.: |
91-79-26303183 |
|
E-Mail : |
DIRECTORS
AS ON 25.09.2013
|
Name : |
Mr. Anish Dineshchandra Shah |
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|
Designation : |
Director |
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|
Address : |
303, Chandanbala RR Thakkar Marg, |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
07.11.1976 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
29.09.2005 |
|||||||||||||||||||||||||||
|
PAN No.: |
AAHPS8002P |
|||||||||||||||||||||||||||
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DIN No.: |
00466560 |
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|
Other Directorship :
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Kalpesh Dineshchandra Shah |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
303/A-Wing, Chandanbala Apartment RR Thakkar Marg, Walkeshwar, Mumbai
– 400006, |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
21.02.1975 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
29.09.2005 |
|||||||||||||||||||||||||||
|
PAN No.: |
ALCPS8039E |
|||||||||||||||||||||||||||
|
DIN No.: |
01546268 |
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|
Other Directorship :
|
||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Sunandaben D. Shah |
|
700000 |
|
Kalpesh D. Shah |
|
288980 |
|
Kalpesh D. Shah HUF |
|
840000 |
|
Keval K. Shah |
|
980000 |
|
Anish D. Shah |
|
848980 |
|
Anish D. Shah HUF |
|
1260000 |
|
Hetal A. Shah |
|
1260000 |
|
Prayagchand Ashok Kumar Private Limited, |
|
2850090 |
|
Eklavya Management Services Private Limited, |
|
2817733 |
|
Purak Trading Private Limited, |
|
2805743 |
|
|
|
|
|
Total |
|
14651526 |
AS ON 25.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
57.87 |
|
Directors
or relatives of directors |
27.76 |
|
Other
|
14.37 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of Aluminium Products and Conductors. |
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|
|
||||
|
Products/ Services : |
|
GENERAL INFORMATION
|
Customers : |
·
Power Grid Corporation of India Limited
(PGCIL) Larsen
and Toubro Limited (L&T) Gujarat
Energy Transmission Corporation Limited (GETCO) Pentak
General Trading LLC, Madhya
Gujarat Vij Co. Limited (MGVCL) Reliance
Industries Limited (RIL) |
|||||||||||||||||||||
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|
|||||||||||||||||||||
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No. of Employees : |
Not Divulged |
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|
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Bankers : |
· HDFC Bank Limited HDFC Bank House, Senapati Bapat Marg, Lower Parel [West],
Mumbai - 400013, ·
State Bank of Commercial Branch, N.G.N. Vaidya Marg, |
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|
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
MZSK and Associates Chartered Accountants |
|
Address : |
The Rubby Level-9, North West Wing, Senapati Bapat Marg,
Dadar (West), Mumbai – 400023, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAKFM2006L |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14,651,526 |
Equity Shares |
Rs. 10/- each |
Rs. 146.515
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 |
146.515 |
146.515 |
140.000 |
|
(b) Reserves & Surplus |
1030.590 |
859.120 |
369.238 |
|
(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) |
1177.105 |
1005.635 |
509.238 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
282.910 |
338.224 |
159.949 |
|
(b) Deferred tax liabilities (Net) |
59.148 |
54.988 |
50.191 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
2.390 |
1.822 |
1.387 |
|
Total Non-current
Liabilities (3) |
344.448 |
395.034 |
211.527 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
183.926 |
109.185 |
790.643 |
|
(b)
Trade payables |
1829.389 |
1644.629 |
1929.143 |
|
(c)
Other current liabilities |
72.235 |
74.519 |
160.111 |
|
(d) Short-term
provisions |
3.158 |
10.463 |
37.165 |
|
Total Current
Liabilities (4) |
2088.708 |
1838.796 |
2917.062 |
|
|
|
|
|
|
TOTAL |
3610.261 |
3239.465 |
3637.827 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
716.866 |
726.313 |
449.171 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
0.309 |
3.309 |
3.309 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
37.899 |
40.297 |
21.738 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
755.074 |
769.919 |
474.218 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1128.438 |
845.396 |
887.725 |
|
(c)
Trade receivables |
1017.198 |
776.020 |
1376.485 |
|
(d) Cash
and cash equivalents |
348.177 |
357.099 |
279.629 |
|
(e)
Short-term loans and advances |
337.659 |
467.594 |
596.992 |
|
(f)
Other current assets |
23.715 |
23.437 |
22.778 |
|
Total
Current Assets |
2855.187 |
2469.546 |
3163.609 |
|
|
|
|
|
|
TOTAL |
3610.261 |
3239.465 |
3637.827 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8249.153 |
8168.088 |
7404.435
[Gross] |
|
|
|
Other Income |
52.598 |
99.422 |
NA |
|
|
|
TOTAL |
8301.751 |
8267.510 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
7807.328 |
7773.192 |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
494.423 |
494.318 |
NA |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
203.056 |
283.658 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
291.367 |
210.660 |
193.692 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
45.073 |
22.517 |
24.584 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
246.294 |
188.143 |
169.108 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
74.823 |
41.142 |
50.575 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
171.471 |
147.001 |
118.533 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
43494119 USD |
27074861 USD |
8517511 USD |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
11.70 |
10.03 |
8.47 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.07 |
1.78 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.99 |
2.30 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.82 |
5.81 |
4.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.19 |
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.40 |
0.44 |
1.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37 |
1.34 |
1.08 |
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 |
140.000 |
146.515 |
146.515 |
|
Reserves & Surplus |
369.238 |
859.120 |
1030.590 |
|
Net
worth |
509.238 |
1005.635 |
1177.105 |
|
|
|
|
|
|
long-term borrowings |
159.949 |
338.224 |
282.910 |
|
Short term borrowings |
790.643 |
109.185 |
183.926 |
|
Total
borrowings |
950.592 |
447.409 |
466.836 |
|
Debt/Equity ratio |
1.867 |
0.445 |
0.397 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
8168.088 |
8249.153 |
|
|
|
0.992 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
8168.088 |
8249.153 |
|
Profit |
147.001 |
171.471 |
|
|
1.80% |
2.08% |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10437412 |
01/07/2013 |
2,583,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B79847224 |
|
2 |
10431871 |
17/05/2013 |
2,997,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B77426351 |
|
3 |
10431874 |
17/05/2013 |
2,011,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B77427805 |
|
4 |
10325620 |
21/02/2014 * |
6,020,000,000.00 |
STATE BANK OF INDIA |
N.G.N. VAIDYA MARG, HORNIMAN CIRCLE, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B98066616 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Term loans from others |
282.910 |
337.922 |
|
SHORT TERM BORROWINGS |
|
|
|
Term loans from others |
169.812 |
109.000 |
|
|
|
|
|
Total |
452.722 |
446.922 |
COMPANY PERFORMANCE
The Company has shown Revenue from Operations (Net) of Rs.
8249.153 Millions (Previous Year Rs. 8168.088 Millions). The Company has made
profits of Rs. 171.471 Millions during the year (Previous Year Profit Rs.
147.001 Millions).
AMALGAMATION
Amalgamation of Nivedan Distributors Private Limited ('NDPL' or the ‘Transferor Company’) with the Company (also referred to as the 'Transferee Company' or 'the Company') under Section 391 and 394 of the Companies Act, 1956.
Pursuant to a Scheme of Amalgamation sanctioned by the Hon'ble High Court of Judicature at Bombay on 12 October 2012 (?the Scheme'), Nivedan Distributors Private Limited has been amalgamated with the Company with effect from March 31, 2012 (‘Appointed Date').
The approved Scheme provides that Goodwill arising on merger
shall be adjusted against Reserve. Further, as per the Scheme of Amalgamation
the adjustment to the difference between the fair value and book value of the
assets of the transferee Company, if and to the extent considered appropriate
by the board of directors. Accordingly, the Board of Directors of the Company
in their Board Meeting dated 23rd October, 2012 have decided to credit the
difference to the General Reserve.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
|
|
|
|
Bank Guarantees |
2140.626 |
2235.775 |
|
|
|
|
FIXED ASSETS:
· Land
Buildings
Office
building
Factory
building
Plant
and equipment
Other
plant and equipment
Furniture
and fixtures
Vehicles
Motor
vehicles
Office
equipment
Computer
equipments
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. 60.50 |
|
|
1 |
Rs. 100.33 |
|
Euro |
1 |
Rs. 79.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
53 |
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.