MIRA INFORM REPORT
|
Report Date : |
22.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
FAIRMACS SHIPPING AND TRANSPORT SERVICES PRIVATE LIMITED |
|
|
|
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Registered
Office : |
No.14, Moore St, Chennai - 600001, Tamilnadu |
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
08.06.1989 |
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Com. Reg. No.: |
18-017515 |
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Capital
Investment / Paid-up Capital : |
Rs. 9.000 Millions |
|
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|
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CIN No.: [Company Identification
No.] |
U74999TN1989PTC017515 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Service Provider of Logistic. |
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|
|
|
No. of Employees
: |
Not Divulged |
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 |
|
Maximum Credit Limit : |
USD 377000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The management has file the latest financial for the year 2012 and
2013 but same could not be made available from government department. As per previous financial of 2011, general financial position of the
company seems to be fair. However, trade relations are fair. Business is active. Payment terms
are unknown. The company can be considered for business dealing 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.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
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 PARTED BY
|
Name : |
Mr. C.Santhanam |
|
Designation : |
Accounts and Finance Head |
|
Contact No.: |
91-44-25231383 |
|
Date : |
21.02.2014 |
LOCATIONS
|
Registered Office : |
No.14, Moore St, Chennai - 600001, Tamilnadu, India |
|
Tel. No. : |
91-44-25231383-85/ 25230643/ 25272128 |
|
Fax No. : |
91-44-25227404 |
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E-Mail : |
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|
Website : |
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|
Area: |
5000 sq.ft. |
|
Location : |
Owned |
|
|
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|
Branch Office 1: |
Raheja Arcade, 4th Floor, Office No. 407, Plot
No. 61, Sector-11, CBD, Belapur, New Mumbai-400614 |
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Tel. No. : |
91-22-61792000 |
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Fax No. : |
91-22-61792020 |
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E-Mail : |
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Branch Office 2: |
Row House No.8, Gate 10, Ampire Estate, City Survey No.4510/1, Mumbai
Pune Road, Chinchwad, Pune – 411019, Maharashtra, India |
|
Tel. No.: |
91-20-64103700 |
|
Location : |
Rented |
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|
|
|
Branch Office 3: |
Chandan Niketan, 52A Shakespeare Sarani, 3rd
Floor, Room No.302, Kolkata - 700017,
West Bengal, India |
|
Tel. No. : |
91-33-22801500 |
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Fax No. : |
91-33-22405194 |
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E-Mail : |
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Other Branch
Offices : |
Located at · Mumbai · Bangalore · Tuticorin · Delhi · Port Blair · Cochin · Coimbatore · Visakhapatnam · Australia |
DIRECTORS
As on 28.09.2013
|
Name : |
Mr. Dattatrey Shete Ramakrishna |
|
Designation : |
Director |
|
Address : |
I-63, Anna Nagar (East), Chennai – 600102, Tamilnadu, India |
|
Date of Birth/Age : |
22.11.1956 |
|
Date of Appointment : |
08.06.1989 |
|
DIN No. : |
00381841 |
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|
|
|
Name : |
Mr. Sunil Shete Ramakrishna |
|
Designation : |
Director |
|
Address : |
45/23, Palm Apartments, 4th Main Road, R A Puram, Chennai –
600028, Tamilnadu, India |
|
Date of Birth/Age : |
31.10.1963 |
|
Date of Appointment : |
08.06.1989 |
|
DIN No. : |
00382036 |
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|
|
|
Name : |
Mr. Anil Prabhakar Bakle |
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Designation : |
Director |
|
Address : |
1201, Raheja Sherwood, C Wing, Western Expresss Highway, Goregaon
(East), Mumbai – 400063, Maharashtra, India |
|
Date of Birth/Age : |
20.06.1957 |
|
Date of Appointment : |
28.09.1996 |
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DIN No. : |
00496784 |
KEY EXECUTIVES
|
Name : |
Mr. C.Santhanam |
|
Designation : |
Accounts and Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
D R Shete |
675000 |
75.00 |
|
Sunil R. Shete |
225000 |
25.00 |
|
Total |
900000 |
100.00 |
As on 28.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Service Provider of Logistic. |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
· Standard Chartered Bank, 2nd Floor, No.19, Rajaji Salai, Chennai - 600001, Tamilnadu, India · Bank of Baroda, Chennai Main Branch, 72, Rajaji Salai, Chennai - 600001, Tamilnadu, India · DBS Bank Limited, 806, Anna Salai, Chennai - 600002, Tamilnadu, India · Canara Bank, Krishna House, Aberdeen Bazaar, Port Blair - 744101, Andaman and Nicobar Islands, India · HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India ·
ICICI Bank Limited, Landmarkrace Cource Circle,
Alkapuri, Baroda - 390015, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
M.K.Dandekar and Company Chartered Accountants |
|
Address : |
244 Old No.138, Angappa Naicken Street. 2nd Floor, Chennai – 600001, Tamilnadu, India |
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Tel. No. : |
91-44-2522100/ 25220721 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFM0865H |
CAPITAL STRUCTURE
As on 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
900,000 |
Equity Shares |
Rs.10/- each |
Rs. 9.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
9.000 |
9.000 |
9.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
85.251 |
68.982 |
52.379 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
94.251 |
77.982 |
61.379 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
94.016 |
82.229 |
83.465 |
|
|
2] Unsecured Loans |
3.356 |
3.282 |
3.869 |
|
|
TOTAL BORROWING |
97.372 |
85.511 |
87.334 |
|
|
DEFERRED TAX LIABILITIES |
1.300 |
1.300 |
1.300 |
|
|
|
|
|
|
|
|
TOTAL |
192.923 |
164.793 |
150.013 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
31.766 |
23.302 |
11.788 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
8.038 |
8.038 |
38.227 |
|
|
DEFERRED TAX ASSETS |
0.894 |
0.331 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1.658
|
1.658 |
1.858 |
|
|
Sundry Debtors |
178.725
|
147.581 |
162.871 |
|
|
Cash & Bank Balances |
2.845
|
5.792 |
14.417 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
28.935
|
33.870 |
23.746 |
|
Total
Current Assets |
212.163
|
188.901 |
202.892 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
53.780
|
51.615 |
93.630 |
|
|
Other Current Liabilities |
6.158
|
4.164 |
8.897 |
|
|
Provisions |
0.000
|
0.000 |
0.367 |
|
Total
Current Liabilities |
59.938
|
55.779 |
102.894 |
|
|
Net Current Assets |
152.225
|
133.122 |
99.998 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
192.923 |
164.793 |
150.013 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
716.555 |
713.893 |
841.447 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
689.330 |
687.635 |
816.092 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) |
27.225 |
26.258 |
25.355 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.020 |
1.386 |
1.341 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
24.205 |
24.872 |
24.014 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
8.600 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
NA |
16.272 |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
73.190 |
12.638 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
26.89 |
18.08 |
26.68 |
|
|
Particulars |
|
31.03.2013 |
3.03.2012 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
1800.000 |
1600.000 |
|
|
|
|
|
Expected Sales (2013-2014) : Rs. 1900.000 Millions
The above information has been parted by Mr. C.Santhanam (Accounts and
Finance Head).
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
2.28 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.92
|
11.73 |
11.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.32 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.03
|
1.10 |
1.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.54
|
3.39 |
1.97 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
9.000 |
9.000 |
9.000 |
|
Reserves & Surplus |
52.379 |
68.982 |
85.251 |
|
Net
worth |
61.379 |
77.982 |
94.251 |
|
|
|
|
|
|
Secured Loans |
83.465 |
82.229 |
94.016 |
|
Unsecured Loans |
3.869 |
3.282 |
3.356 |
|
Total
borrowings |
87.334 |
85.511 |
97.372 |
|
Debt/Equity
ratio |
1.423 |
1.097 |
1.033 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
841.447 |
713.893 |
716.555 |
|
|
|
(15.159) |
0.373 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
841.447 |
713.893 |
716.555 |
|
Profit |
24.014 |
24.872 |
24.205 |
|
|
2.85% |
3.48% |
3.38% |
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 |
Yes |
|
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
five years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
No |
|
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 |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10449452 |
11/09/2013 |
50,000,000.00 |
DBS BANK LIMITED |
806, ANNA SALAI, CHENNAI - 600002, TAMILNADU, INDIA |
B85173979 |
|
2 |
10423222 |
26/04/2013 |
2,262,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B74229154 |
|
3 |
10421485 |
08/04/2013 |
16,200,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B73666331 |
|
4 |
10336262 |
13/02/2012 |
4,300,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B32405813 |
|
5 |
10344528 |
01/02/2012 |
900,000.00 |
CANARA BANK |
KRISHNA HOUSE, ABERDEEN BAZAAR, PORT BLAIR - 744101, ANDAMAN AND NICOBAR ISLANDS, INDIA |
B35882570 |
|
6 |
10333832 |
11/01/2012 |
15,000,000.00 |
STANDARD CHARTERED BANK |
2ND FLOOR, NO.19, RAJAJI SALAI, CHENNAI - 600001, TAMILNADU, INDIA |
B31382161 |
|
7 |
10257001 |
11/01/2012 * |
19,000,000.00 |
STANDARD CHARTERED BANK |
2ND FLOOR, NO.19, RAJAJI SALAI, CHENNAI - 600001, TAMILNADU, INDIA |
B30034870 |
|
8 |
10254897 |
11/01/2012 * |
40,000,000.00 |
STANDARD CHARTERED BANK |
2ND FLOOR, NO.19, RAJAJI SALAI, CHENNAI - 600001, TAMILNADU, INDIA |
B30311724 |
|
9 |
10257011 |
08/07/2011 * |
50,000,000.00 |
STANDARD CHARTERED BANK |
2ND FLOOR, NO.19, RAJAJI SALAI, CHENNAI - 600001, TAMILNADU, INDIA |
B19155712 |
|
10 |
10257013 |
03/12/2010 |
2,500,000.00 |
STANDARD CHARTERED BANK |
SME BANKING, NO. 19, 2ND FLOOR, RAJAJI SALAI, CHENNAI - 600001, TAMILNADU, INDIA |
B02382851 |
|
11 |
10262716 |
03/12/2010 |
33,000,000.00 |
STANDARD CHARTERED BANK |
SME BANKING, NO.
19, 2ND FLOOR, RAJAJI SALAI, CHE |
B02382422 |
|
12 |
10245418 |
10/10/2013 * |
154,000,000.00 |
STANDARD CHARTERED BANK |
2ND FLOOR, NO.19, RAJAJI SALAI, CHENNAI - 600001, TAMILNADU, INDIA |
B91061564 |
|
13 |
10182690 |
21/10/2009 |
51,500,000.00 |
STANDARD CHARTERED BANK |
NO 58 II FLOOR, ARMENIAN STREET, CHENNAI - 600001, TAMILNADU, INDIA |
A72157928 |
|
14 |
90282698 |
24/03/1994 |
161,820.00 |
SUNDARAM FINANCE LIMITED |
21; PATULLOS ROAD, MADRAS - 600002, TAMILNADU, INDIA |
- |
|
15 |
90282658 |
05/06/1993 |
338,450.00 |
SUNDARAM FINANCE LIMITED |
21; PATULLOS ROAD, MADRAS - 600002, TAMILNADU, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2011 (Rs.
in Millions) |
31.03.20110 (Rs.
in Millions) |
|
Loans from Directors |
3.356 |
3.282 |
|
Total |
3.356 |
3.282 |
FIXED ASSETS
· Land – Freehold
· Building
· Furniture and Fixtures
· Office Equipments
· Generator
· Computer
· Vehicle
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.62.16 |
|
|
1 |
Rs.103.44 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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.