MIRA INFORM REPORT
|
Report Date : |
21.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
SOFTCELL TECHNOLOGIES LIMITED (w.e.f. 08.01.2001) |
|
|
|
|
Formerly Known
As : |
SOFTCELL TRADE
AND TECHNOLOGIES LIMITED |
|
|
|
|
Registered
Office : |
303-304, 3rd
Floor, Kohinoor City, Commercial Complex, I. B. Wing, Kirol Road, Off L.B.S.
Marg, Kurla (West), Mumbai - 400070, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
10.04.1995 |
|
|
|
|
Com. Reg. No.: |
11-087330 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.41.642 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74210MH1995PLC087330 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMS37242C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS0965J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Software and services
business, addressing the PC and networks space. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2522000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The management has incurred minimal loss from its operations due to
prevailing market conditions and regulatory changes during the year under
review. However the company possesses an above average financial profile
marked by favorable networth and no long term external borrowings recorded in
the books during 2013. Trade relations are fair. Business is active. Payment terms are
reported as usually 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.
INDIAN ECONOMIC OVERVIEW
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry retained
its status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED
MANAGEMENT NON – CO-OPERATIVE (91-22-66006700)
LOCATIONS
|
Registered Office : |
303-304, 3rd Floor, Kohinoor City, Commercial Complex, I.
B. Wing, Kirol Road, Off L.B.S. Marg, Kurla (West), Mumbai - 400070,
Maharashtra, India |
|
Tel. No.: |
91-22-66006700 / 24606969 |
|
Fax No.: |
91-22-66006701 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
504, Mayfair Towers, 28,
Mumbai-Pune Road, Wakdewadi, Pune -
411005 |
|
Tel. No.: |
91-20-6600-6700 |
|
Fax No.: |
91-20-6600-6701 |
|
|
|
|
Branch Office : |
Located at · Chennai · Bangalore · Hyderabad · Pune · Ahmedabad · New Delhi |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Sunil Pandurang Dalal |
|
Designation : |
Chairman, Managing Director |
|
Address : |
Flat No1, Sharad Vaibhav Appt, Gokhale Cross Road, Model Colony, Pune
– 411016, Maharashtra, India |
|
Date of Birth/Age : |
24.05.1963 |
|
Qualification : |
MMS Finance |
|
Date of Appointment : |
10.04.1995 |
|
PAN No.: |
ADWPD4013B |
|
DIN No.: |
00232753 |
|
|
|
|
Name : |
Mr. Harish Chandrashekar Aiyer |
|
Designation : |
Whole Time Director |
|
Address : |
303, Ratnasagar, Sector 29, Vashi, Navi Mumbai-400703, Maharashtra,
India |
|
Date of Birth/Age : |
06.11.1962 |
|
Qualification : |
MBA Marketing and Systems |
|
Date of Appointment : |
10.04.1995 |
|
PAN No.: |
AABES1218C |
|
DIN No.: |
00233168 |
|
|
|
|
Name : |
Mr. Dasharathi Heramagalur Venkatesh |
|
Designation : |
Whole Time Director |
|
Address : |
A5, Paradise Towers, 2/1, Baner Road Baner, Pune - 400059, Maharashtra, India |
|
Date of Birth/Age : |
08.07.1963 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
10.04.1995 |
|
PAN No.: |
ACJPV1698L |
|
DIN No.: |
02391495 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Sunil Pandurang Dalal |
1491004 |
|
Sharayu Pandurang Dalal |
400 |
|
Ujwal Narayan Andhari |
218490 |
|
Sanjoy T Roy |
85152 |
|
Dasharathi Heramagalur Venkatesh |
565000 |
|
Harish Chandrashekar Aiyer |
80814 |
|
Debashish Sateyndra Basu |
10400 |
|
Praveen Suryakant Sawant |
80814 |
|
Jayant Kadambi |
62500 |
|
L R Narayanan |
40000 |
|
Sunil P Dalal Raghunath P Gawde Softcell Employee Trust |
414500 |
|
HDFC Bank Limited, India |
499702 |
|
Housing Development Finance Corporation Limited, India |
499702 |
|
Deepak Parekh Vinod Yennemadi S. S Thakar HDFC Welfare Employee Trust |
83285 |
|
Mukesh Babu Financial Services Limited, India |
5000 |
|
Hansa Parimal Parekh |
3200 |
|
Balance Equity Broking India Private Limited, India |
9800 |
|
Raghunath
Pandurang Gawde |
4925 |
|
Premananth
Pitchamuthu |
2250 |
|
Sai Gopal
Pullabhatla |
2000 |
|
Veeraragvan
Gopalan |
1500 |
|
Rajaraman
Parasuraman |
1000 |
|
Gandhali Neeraj
More |
500 |
|
Shrinivas Ramkrishna Patankar |
2250 |
|
Total |
4164188 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Nationalised of
other banks |
12.00 |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
1.50 |
|
Bodies corporate |
12.36 |
|
Directors or relatives of Directors |
51.57 |
|
Other top fifty shareholders |
22.57 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Software and
services business, addressing the PC and networks space. |
||||
|
|
|
||||
|
Products : |
· Software Licensing · System Integration and Networking · Infrastructure Services · Internet Hosting services · IT Security · Engineering Services ·
Application Lifecycle Management and Lifecycle
Quality Management |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
· HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India ·
The Shamrao Vithal Co-operative Bank Limited,
5, Kanara House, Mogal Lane, Mahim, Mumbai - 400016, Maharashtra, India |
|||||||||||||||
|
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|
|||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BBSR and Company Charted Accountant |
|
Address : |
703, 7th floor,
Godrej Castlemaine, Next to Ruby Hall Clinic, Bund Garden Road, Pune –
411001, Maharashtra, India |
|
PAN
No. : |
AAKFB4397F |
|
|
|
|
Related Parties : |
· Housing Development Finance Corporation Limited, India CIN No.: L70100MH1977PLC019916 · HDFC Bank Limited, India CIN No.: L65920MH1994PLC080618 · HDFC Securities Limited, India CIN No.: U67120MH2000PLC152193 · Moneylife Smart Savers Network Private Limited CIN No. : U74120MH2011PTC214195 · Software Consultancy International Limited CIN No. :
U72900MH1995PLC085728 |
|
|
|
|
Subsidiary : |
· IT Secure Software Private Limited CIN No. :
U72200MH1998PTC114100 |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4164188 |
Equity Shares |
Rs.10/- each |
Rs.41.642 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 |
41.642 |
41.642 |
41.642 |
|
(b) Reserves & Surplus |
588.964 |
614.695 |
174.138 |
|
(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) |
630.606 |
656.337 |
215.780 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
5.197 |
8.318 |
5.082 |
|
(c) Other long term liabilities |
50.000 |
50.000 |
0.000 |
|
(d) long-term provisions |
6.222 |
4.316 |
3.178 |
|
Total Non-current Liabilities (3) |
61.419 |
62.634 |
8.260 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
30.107 |
37.547 |
30.838 |
|
(b) Trade payables |
221.598 |
211.224 |
789.156 |
|
(c) Other current liabilities |
26.010 |
37.296 |
55.754 |
|
(d) Short-term provisions |
24.963 |
24.199 |
152.897 |
|
Total Current Liabilities (4) |
302.678 |
310.266 |
1,028.645 |
|
|
|
|
|
|
TOTAL |
994.703 |
1,029.237 |
1,252.685 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
90.024 |
108.087 |
48.455 |
|
(ii) Intangible Assets |
12.451 |
14.832 |
5.452 |
|
(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 |
0.032 |
0.032 |
2.540 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
509.657 |
586.539 |
95.819 |
|
(e) Other Non-current assets |
0.929 |
0.321 |
0.000 |
|
Total Non-Current Assets |
613.093 |
709.811 |
152.266 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
2.971 |
2.700 |
0.000 |
|
(b) Inventories |
8.530 |
10.934 |
4.235 |
|
(c) Trade receivables |
283.038 |
226.914 |
269.861 |
|
(d) Cash and cash equivalents |
41.159 |
38.305 |
44.809 |
|
(e) Short-term loans and
advances |
45.912 |
40.573 |
781.514 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
381.610 |
319.426 |
1,100.419 |
|
|
|
|
|
|
TOTAL |
994.703 |
1,029.237 |
1,252.685 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1432.399 |
1330.938 |
1402.551 |
|
|
|
Other Income |
23.796 |
24.016 |
36.346 |
|
|
|
TOTAL (A) |
1456.195 |
1354.954 |
1438.897 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
1118.550 |
1053.202 |
1094.568 |
|
|
|
Employee benefit expense |
155.922 |
170.412 |
140.165 |
|
|
|
Other expenses |
139.757 |
166.362 |
119.860 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
2.403 |
(6.699) |
0.646 |
|
|
|
Extraordinary
Items |
0.000 |
(543.320) |
0.000 |
|
|
|
TOTAL (B) |
1416.632 |
839.957 |
1355.239 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) |
39.563 |
514.997 |
83.658 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.125 |
4.451 |
3.623 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
35.438 |
510.546 |
80.035 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
34.687 |
21.794 |
16.239 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
0.751 |
488.752 |
63.796 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.283 |
24.006 |
25.698 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(1.532) |
464.746 |
38.098 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
467.972 |
77.415 |
70.415 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
|
|
50.000 |
6.900 |
|
|
|
Dividend |
|
20.821 |
20.820 |
|
|
|
Tax on Dividend |
|
3.378 |
3.378 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
467.972 |
77.415 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
0.000 |
14.284 |
|
|
TOTAL EARNINGS |
NA |
0.000 |
14.284 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.37) |
111.61 |
9.15 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(0.10)
|
34.30 |
2.65 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.05
|
39.72 |
4.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.07
|
47.49 |
5.10 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.74 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.05
|
0.06 |
0.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26
|
1.03 |
1.07 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
41.642 |
41.642 |
41.642 |
|
Reserves & Surplus |
174.138 |
614.695 |
588.964 |
|
Net
worth |
215.780 |
656.337 |
630.606 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
30.838 |
37.547 |
30.107 |
|
Total
borrowings |
30.838 |
37.547 |
30.107 |
|
Debt/Equity
ratio |
0.143 |
0.057 |
0.048 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
1402.551 |
1330.938 |
1432.399 |
|
|
|
(5.106) |
7.623 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
1402.551 |
1330.938 |
1432.399 |
|
Profit |
38.098 |
464.746 |
(1.532) |
|
|
2.72% |
34.92% |
(0.11%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
Current maturities of long-term debt |
0.000 |
8.706 |
1.755 |
|
|
|
|
|
|
Total |
0.000 |
8.706 |
1.755 |
|
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 |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE:
The registered address of the company has been shifted from 301
Prabhadevi Indl Estate, 408 Veer Saverkar Marg, Prabhadevi Mumbai – 400025,
Maharashtra, India to the present address w.e.f. 01.04.2012
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10077287 |
02/07/2013 * |
86,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI - 400013,
MAHARASHTRA, INDIA |
B78637436 |
* Date of charge modification
FIXED ASSETS
· Office Building
· Furniture and Fixtures
· Vehicles
· Office Equipments
· 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 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.62.28 |
|
|
1 |
Rs.103.84 |
|
Euro |
1 |
Rs.85.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
46 |
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.