MIRA INFORM REPORT
|
Report Date : |
16.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
V K OFFSHORE SERVICES |
|
|
|
|
Registered
Office : |
101/A, Gopal
Bhuvan, 28, |
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Country : |
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|
Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
20.01.2003 |
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Com. Reg. No.: |
11-138752 |
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Capital
Investment / Paid-up Capital : |
Rs. 9.999 Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U11200MH2003PTC138752 |
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|
|
IEC No.: |
Not Available |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
PAN No.: [Permanent Account No.] |
AABCV6352Q |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing and Fabrication Facilities, Backed Up With Erection and Installation Services For Industrial Plants and Machinery, Marine Industries, Oil Exploration Fields. |
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|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track. The rating reflect moderate financial risk profile marked by low reserve
level and huge borrowings recorded by the company during FY2014. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow correct. The company can be considered for business dealings 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Ratings = BB- |
|
Rating Explanation |
Moderate risk of default |
|
Date |
27.05.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A4+ |
|
Rating Explanation |
Minimal degree of safety. It carry very high credit risk |
|
Date |
27.05.2014 |
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 DENIED BY
|
Name : |
Mr. S. P. Gupta |
|
Designation : |
Manager |
|
Contact No.: |
91-22-26826863 |
|
Date : |
15.12.2014 |
LOCATIONS
|
Registered Office : |
101/A, Gopal Bhuvan, 28, Azad Road , Andheri (East), Mumbai-400069, Maharashtra, India |
|
Tel. No.: |
91-22-26826863 / 78 |
|
Mobile No.: |
91-22-26826844 |
|
Fax No.: |
Not Available |
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E-Mail : |
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|
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|
Factory : |
J-96, M.I.D.C, Taloja, Navi Mumbai-410208 |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Hasmukh Chandulal Sheth |
|
Designation : |
Director |
|
Address : |
Flat No. 1202/B, Akrutiatria, Akruti Compuond, Saiwadi, N. S. Phadke
Raod, Andheri East, Mumbai-400069, Maharashtra, India |
|
Date of Birth/Age : |
13.01.1952 |
|
Date of Appointment : |
20.01.2003 |
|
DIN No.: |
00283076 |
|
|
|
|
Name : |
Mr. Dilip Prataprai Shah |
|
Designation : |
Managing Director |
|
Address : |
Akruti Nova-B, 11th Floore, 1102 Akruti Compound, Saiwadi,
N.S. Phadke Road, Andheri East, Mumbai-400069, Maharashtra, India |
|
Date of Birth/Age : |
20.04.1955 |
|
Date of Appointment : |
20.01.2003 |
|
DIN No.: |
00739344 |
|
|
|
|
Name : |
Mr. Dhiren Himatlal Doshi |
|
Designation : |
Director |
|
Address : |
67, Ramjhurukha, S. V. Road, Andheri West, Mumbai-400058, Maharashtra,
India |
|
Date of Birth/Age : |
05.01.1942 |
|
Date of Appointment : |
15.10.2003 |
|
DIN No.: |
01940879 |
KEY EXECUTIVES
|
Name : |
Mr. S. P. Gupta |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS
As on 29.09.2014
|
Names of Shareholders |
No. of Shares |
|
Hasmukh Chandulal Sheth |
333340 |
|
Purnima D. Doshi |
333277 |
|
Dhiren Himatlal Doshi |
333305 |
|
Kirit S. Shah |
7 |
|
Samit K. Shah |
7 |
|
Suverna K. Shah |
7 |
|
Ruchi S. Shah |
7 |
|
TOTAL |
999950 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Fabrication Facilities, Backed Up With Erection and Installation Services For Industrial Plants and Machinery, Marine Industries, Oil Exploration Fields. |
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Products and Services : |
Products :
Services :
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
Bank of Baroda, Princess Street Branch, Mulji Jetha Building, 1st Floor, 185/187, Princess Street, Mumbai - 400002, Maharashtra, India |
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Facilities : |
SECURED
LOAN (Rs.
In Millions)
|
|
Banking
Relations : |
--- |
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|
|
|
Auditors : |
|
|
Name : |
Hasmukh Jobanputra and Computer Chartered Accountant |
|
Address : |
Mulji Jehta Building, 2nd Floor, 187, Princess Street, Above Bank Of Baroda, Mumbai- 400002, Maharashtra, India |
|
Tel. No.: |
91-22-22012879/66345123 |
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PAN No.: |
AACPJ3738N |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Company in Which Directors Relative Of Directors are Interested : |
Quality Enterprises |
CAPITAL STRUCTURE
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
999950 |
Equity Shares |
Rs.10/- each |
Rs. 9.999
Millions |
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|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
9.999 |
9.999 |
9.999 |
|
(b) Reserves & Surplus |
7.856 |
9.701 |
6.818 |
|
(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) |
17.855 |
19.700 |
16.817 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.048 |
0.277 |
|
(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 |
0.048 |
0.277 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
73.721 |
62.930 |
44.998 |
|
(b) Trade
payables |
6.668 |
7.303 |
6.348 |
|
(c) Other
current liabilities |
2.667 |
2.499 |
2.190 |
|
(d) Short-term
provisions |
5.482 |
4.236 |
4.274 |
|
Total Current
Liabilities (4) |
88.538 |
76.968 |
57.810 |
|
|
|
|
|
|
TOTAL |
106.393 |
96.716 |
74.904 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1.509 |
1.216 |
1.425 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.377 |
0.011 |
0.019 |
|
(d) Long-term Loan and Advances |
0.505 |
0.338 |
0.338 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2.391 |
1.565 |
1.782 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
25.846 |
36.163 |
19.275 |
|
(c) Trade
receivables |
36.121 |
19.266 |
13.742 |
|
(d) Cash
and cash equivalents |
32.347 |
30.466 |
31.010 |
|
(e)
Short-term loans and advances |
2.063 |
1.533 |
3.674 |
|
(f) Other
current assets |
7.625 |
7.723 |
5.421 |
|
Total
Current Assets |
104.002 |
95.151 |
73.122 |
|
|
|
|
|
|
TOTAL |
106.393 |
96.716 |
74.904 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
85.823 |
68.514 |
92.190 |
|
|
|
Other Income |
2.717 |
2.635 |
NA |
|
|
|
TOTAL (A) |
88.540 |
71.149 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
10.318 |
(16.889) |
|
|
|
|
Purchases of Stock-in-Trade |
31.673 |
40.199 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
4.298 |
9.983 |
|
|
|
|
Employees benefits expense |
16.864 |
15.578 |
|
|
|
|
Other expenses |
12.197 |
9.358 |
|
|
|
|
TOTAL (B) |
75.350 |
58.229 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
13.190 |
12.920 |
NA |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9.241 |
8.027 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.949 |
4.893 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.366 |
0.435 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3.583 |
4.458 |
|
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.316 |
1.575 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3.267 |
2.883 |
3.520 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
3.27 |
2.88 |
3.52 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
3.81 |
4.21 |
3.82 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
15.37 |
18.86 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.38 |
4.61 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.23 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.13 |
3.20 |
2.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17 |
1.24 |
1.26 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
9.999 |
9.999 |
9.999 |
|
Reserves & Surplus |
6.818 |
9.701 |
7.856 |
|
Net
worth |
16.817 |
19.700 |
17.855 |
|
|
|
|
|
|
long-term borrowings |
0.277 |
0.048 |
0.000 |
|
Short term borrowings |
44.998 |
62.930 |
73.721 |
|
Total
borrowings |
45.275 |
62.978 |
73.721 |
|
Debt/Equity
ratio |
2.692 |
3.197 |
4.129 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
92.190 |
68.514 |
85.823 |
|
|
|
-25.682 |
25.263 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
92.190 |
68.514 |
85.823 |
|
Profit |
3.520 |
2.883 |
3.267 |
|
|
3.82% |
4.21% |
3.81% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
Note:
The registered office of the company has been shifted from
B/11, 1st Floor, LA-Bella,Azad Road, Andheri (East), Mumbai-400069 Maharashtra
India to
present address w.e.f. 01.04.2013
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
SHORT TERM
BORROWING |
|
|
|
Loans from
Related Parties |
|
|
|
Dhiren Doshi |
3.160 |
2.910 |
|
Dilip Shah |
0.695 |
0.795 |
|
Hasmukh Sheth |
0.740 |
0.701 |
|
Pratapraj B. Shah (HUF) |
1.645 |
4.325 |
|
Chandra P. Shah |
0.485 |
0.100 |
|
Devang Shah |
0.350 |
0.050 |
|
Geeta Sheth |
3.230 |
2.395 |
|
Dilip Shah(HUF) |
0.380 |
0.310 |
|
Lata Shah |
1.135 |
0.735 |
|
Purnima Doshi |
0.270 |
0.635 |
|
Manasi Sheth |
0.200 |
0.000 |
|
Dilip Corporation |
0.000 |
0.300 |
|
Quality Enterprises |
6.555 |
0.956 |
|
|
|
|
|
Loans from
Others |
|
|
|
Kirit Shah |
1.000 |
1.000 |
|
Samit Shah |
3.000 |
1.000 |
|
MAdhur Parikh |
1.000 |
0.000 |
|
Maulik Parikh |
1.000 |
0.000 |
|
Sudha Parikh |
1.000 |
0.000 |
|
Total |
25.845 |
16.212 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10113098 |
24/09/2011 * |
60,000,000.00 |
BANK OF BARODA |
PRINCESS STREET BRANCH, MULJI JETHA BUILDING, 1ST FLOOR, 185/187, PRINCESS STREET, MUMBAI, MAHARASHTRA - 400002, INDIA |
B23478084 |
|
2 |
90365606 |
14/05/2005 |
100,000.00 |
BANK OF BARODA |
PRINCESS STREET BRANCH, MULJI JETHA BUILDING, 1ST FLOOR, 185/187, PRINCESS STREET, MUMBAI, MAHARASHTRA - 400002, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Plant and
Machinery
- Motor Car
- Computer
- 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 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. 62.65 |
|
|
1 |
Rs. 98.53 |
|
Euro |
1 |
Rs. 78.01 |
INFORMATION DETAILS
|
Information
Gathered by : |
GAY |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.