|
Report Date : |
04.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
VARRSANA ISPAT LIMITED (w.e.f.
25.07.2005) |
|
|
|
|
Formerly Known
As : |
EUREKA RAPID COMMUNICATION LIMITED |
|
|
|
|
Registered
Office : |
Everest House, 46-C, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
01.03.2000 |
|
|
|
|
Com. Reg. No.: |
21-124804 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 219.082 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999WB2000PLC124804 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALV02125E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCV1058N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in trading of Steel-related Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 16000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. There appears drastic dip in profit of the company during the financial
year 2013. However, general financial position of the company seems to be fair. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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
Uptick in
agriculture and construction spread some cheer as the economy grew a higher-than-expected
4.8 % in the three months through September. Manufacturing rose an annual rate
per cent during the quarter and mining fell by 0.4 %, government data showed
while farm output rose 46%.
India has emerged as
the most attractive investment destination, thanks to a relaxation in foreign
direct investment norms, says a report. India is followed by Brazil and China
in the ranking part of EY’s Capital Confidence Barometer report based on a
survey across 70 nations. The US, France and Japan have emerged as the top
three investors likely to invest in India.
India has been
ranked 83rd globally in terms of talent competitiveness of its human
capital. Switzerland, Singapore, Denmark, Sweden and Luxembourg are the
top five in the list of 103 nations compiled by INSEAD business school.
Tax rates for
companies in India are among the highest in the world and the number of
payments is also more than the global average putting the country at low, 158th
rank on the Paying Taxes. 2014 list by the World Bank and PWC. However, the
time taken for tax payments is relatively less in India which is rated ahead of
China and Japan.
1 billion smartphone
shipments in 2013, a 39.3 % growth over 2012. This was being driven by low cost
computing in emerging markets. By 2017, total smartphone shipments are expected
to approach 1.7 billion units, resulting in a compound annual growth rate of
18.4 % between 2013 and 2017, according to research from IDC.
20 % vacancy rate of
office space in Mumbai and Delhi in the third quarter, the highest in Asia
after Chengdu, in China. According to Cushman and Wakefield, six Indian cities
are among the 10 office markets with the worst vacancies.
Foreign banks will
not have to pay stamp duty and capital gains tax, if they convert their branch
operations into a wholly owned subsidiary, according to the Reserve Bank of
India.
The Reserve Bank of
India is planning to launch CPI – indexed bonds aimed to protecting the savings
of retail investors from the impact the price rise by December end.
Central Bureau of
Investigation has booked State Bank of India, Deputy Managing Director Shyamal
Acharya and others in a graft case related to distribution of a loan of over Rs
4000 mn. Gold and jewellery worth Rs 6.7 mn have been recovered from the
residence of Acharya.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: “BBB –“ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
10.01.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A3“ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
10.01.2013 |
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.
LOCATIONS
|
Registered Office/ Corporate Office : |
Everest House, 46-C, Chowringee Road, 15th Floor, R.N. 15B,
Kolkata – 700 071, West Bengal, India |
|
Tel. No.: |
91-33-30925061/ 30925062 |
|
Fax No.: |
91-33-22882241 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
|
|
Tel. No.: |
91-2836-249976/ 396866 |
|
Fax No.: |
91-2836-299975 |
|
E-Mail : |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Asoke Kumar Chatterjee |
|
Designation : |
Director |
|
Address : |
C/D-135, |
|
Date of Birth/Age : |
01.02.1927 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
27.10.2005 |
|
DIN No.: |
00266151 |
|
|
|
|
Name : |
Mr. Manoj Mishra |
|
Designation : |
Director |
|
Address : |
A-166, |
|
Date of Birth/Age : |
05.08.1972 |
|
Qualification : |
B.Com. |
|
Date of Appointment : |
26.07.2005 |
|
PAN No.: |
AFZPM3075M |
|
DIN No.: |
00386578 |
|
|
|
|
Name : |
Mr. Mahesh Kumar Sureka |
|
Designation : |
Director |
|
Address : |
R-23, Khirki Extention, 3rd Floor, |
|
Date of Birth/Age : |
15.07.1965 |
|
Qualification : |
B.Com. |
|
Date of Appointment : |
26.07.2005 |
|
DIN No.: |
00386727 |
|
|
|
|
Name : |
Mr. Akshay Jhunjhunwala |
|
Designation : |
Director |
|
Address : |
10/4, Alipore Park, Place, Kolkata – 700027, West Bengal, India |
|
Date of Birth/Age : |
14.10.1983 |
|
Qualification : |
B.Com. |
|
Date of Appointment : |
22.12.2012 |
|
PAN No.: |
AEFPJ0590P |
|
DIN No.: |
00578362 |
KEY EXECUTIVES
|
Name : |
Mr. Jaswant Singh |
|
Designation : |
Company Secretary |
|
Address : |
RZ 1123/D, Gali No 14/6 Sadh, |
|
Date of Birth/Age : |
02.07.1981 |
|
Date of Appointment : |
26.10.2009 |
|
Pan No.: |
BLBPS7186N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Sandip Jhunjhunwala |
|
95040 |
|
Manoj Mishra |
|
10 |
|
Akshay Jhunjhunwala |
|
17900 |
|
Eureka Net. Com Limited, India |
|
290000 |
|
Quick Connect Dot Com Limited, India |
|
515000 |
|
Arihant Dealers Private Limited, India |
|
100 |
|
Design Vinimoy Private Limited, India |
|
100 |
|
REI Agro Limited, India |
|
5256277 |
|
Mahavir Tie Up (Private ) Limited, India |
|
5126297 |
|
Ramdhan Merchandise (Private) Limited, India |
|
5925220 |
|
Penguin Agro Products (Private) Limited, India |
|
4268489 |
|
Rajkamal Marketing Private Limited, India |
|
413800 |
|
|
|
|
|
Total |
|
21908233 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
99.49 |
|
Directors or relatives of directors |
|
0.51 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in trading of Steel-related Products. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· Corporation Bank, Corporate Banking Branch, 17, Brabourne Road, Kolakta - 700001, West Bengal, India · United Bank of India, Old Court House Street Branch, 11, Hamant Basu Sarani,, Kolkata - 700001, West Bengal, India · Central Bank of India, Corporate Finance Branch, 33, Netaji Subhas Road, Kolkata - 700001, West Bengal, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
T R Chadha and Company Chartered Accountants |
|
Address : |
B-30,Connaught Place, Kuthiala Building, India |
|
PAN No.: |
AAAFT1655Q |
|
|
|
|
Associate: |
· REI Agro Limited CIN No.:L14200WB1994PLC104573 · Mahavir Tie-Up Private Limited · CIN No.:U51109WB2005PTC102116 · Ramdhan Merchandise Private Limited CIN No.:U51909WB2005PTC101427 · Varrsana Energy Infrastructure Limited CIN No.:U40102WB2006PLC121677 |
|
|
|
|
Subsidiary company
: |
· Varrsana Gulf Steel JLT, UAE |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs. 300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21908233 |
Equity Shares |
Rs.10/- each |
Rs. 219.082
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 |
219.082 |
219.082 |
219.082 |
|
(b) Reserves & Surplus |
3852.691 |
3841.933 |
3724.755 |
|
(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) |
4071.773 |
4061.015 |
3943.837 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
2563.791 |
2606.197 |
2321.302 |
|
(b) Deferred tax liabilities (Net) |
188.938 |
183.684 |
12.821 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
6.030 |
4.161 |
3.724 |
|
Total Non-current
Liabilities (3) |
2758.759 |
2794.042 |
2337.847 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
461.261 |
455.277 |
0.000 |
|
(b)
Trade payables |
3278.605 |
2803.211 |
2342.737 |
|
(c)
Other current liabilities |
593.974 |
683.931 |
797.095 |
|
(d) Short-term
provisions |
100.849 |
76.039 |
53.716 |
|
Total Current
Liabilities (4) |
4434.689 |
4018.458 |
3193.548 |
|
|
|
|
|
|
TOTAL |
11265.221 |
10873.515 |
9475.232 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
4978.261 |
4973.233 |
5208.469 |
|
(ii)
Intangible Assets |
0.673 |
1.011 |
1.383 |
|
(iii)
Capital work-in-progress |
23.015 |
145.360 |
25.201 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
38.916 |
38.916 |
35.246 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
196.597 |
233.062 |
118.526 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
5237.462 |
5391.582 |
5388.825 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3163.969 |
1792.236 |
1549.054 |
|
(c)
Trade receivables |
2014.342 |
2714.165 |
1408.277 |
|
(d) Cash
and cash equivalents |
390.021 |
349.911 |
289.197 |
|
(e)
Short-term loans and advances |
421.928 |
611.043 |
776.251 |
|
(f) Other
current assets |
37.499 |
14.578 |
63.628 |
|
Total
Current Assets |
6027.759 |
5481.933 |
4086.407 |
|
|
|
|
|
|
TOTAL |
11265.221 |
10873.515 |
9475.232 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8981.634 |
8942.881 |
6717.010 |
|
|
|
Other Income |
0.000 |
0.000 |
0.161 |
|
|
|
TOTAL (A) |
8981.634 |
8942.881 |
6717.171 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
4540.207 |
3870.413 |
3574.816 |
|
|
|
Purchases of stock-in-trade |
3477.655 |
3159.645 |
2225.301 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(903.579) |
75.664 |
(273.305) |
|
|
|
Employee benefit expense |
219.539 |
173.469 |
127.270 |
|
|
|
Other expenses |
704.797 |
874.401 |
375.413 |
|
|
|
Extraordinary items |
114.040 |
2.374 |
0.000 |
|
|
|
TOTAL (B) |
8152.659 |
8155.966 |
6029.495 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
828.975 |
786.915 |
687.676 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
508.587 |
363.457 |
327.192 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
320.388 |
423.458 |
360.484 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
304.376 |
254.534 |
235.675 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
16.012 |
168.924 |
124.809 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.254 |
51.747 |
37.028 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
10.758 |
117.177 |
87.781 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
3.737 |
2.073 |
2.553 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.49 |
5.35 |
4.42 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.11 |
1.31 |
1.31 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.18 |
1.89 |
1.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.14 |
1.59 |
1.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.04 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.74 |
0.75 |
0.59 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36 |
1.37 |
1.28 |
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 |
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 |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
Term loans from others |
1678.500 |
1390.000 |
|
|
|
|
|
Total |
1678.500 |
1390.000 |
Note:
The registered office of the company has been shifted from 58A/1, Sainik
Farm,
FINANCIAL PERFORMANCE
During the financial year, the Company has made Sales of Rs. 8981.634 millions as compared to sales of Rs. 8942.880 millions in the previous year. Profit Before tax and depreciation is Rs. 942.984 millions against Rs. 789.288 millions during the previous year. Profit before interest and tax shows impressive growth of nearly 20% over the last year but due to increased interest cost profit before tax is lower than last year. The profit after tax for the current year is Rs. 10.758 millions as compared to the profit after tax of Rs. 117.178 millions during the previous year.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10426788 |
02/05/2013 |
610,000,000.00 |
CORPORATION BANK |
CORPORATE BANKING BRANCH, 17, BRABOURNE ROAD, KOLAKTA, WEST BENGAL - 700001, INDIA |
B75512871 |
|
2 |
10412551 |
22/03/2013 |
150,000,000.00 |
UNITED BANK OF INDIA |
OLD COURT HOUSE STREET BRANCH, 11, HAMANT BASU SARANI, KOLKATA, WEST BENGAL - 700001, INDIA |
B71035752 |
|
3 |
10359645 |
01/06/2012 |
4,150,000,000.00 |
CENTRAL BANK OF INDIA (LEAD BANK) |
CORPORATE FINANCE BRANCH, KOLKATA, 33, NETAJI SUBHAS ROAD, KOLKATA, WEST BENGAL - 700001, INDIA |
B41219858 |
|
4 |
10283037 |
29/01/2013 * |
1,365,000,000.00 |
CENTRAL BANK OF INDIA |
CORPORATE FINANCE BRANCH, 33, NETAJI SUBHAS ROAD, KOLKATA, WEST BENGAL - 700001, INDIA |
B67332361 |
|
5 |
10199498 |
06/01/2010 |
300,000,000.00 |
CENTRAL BANK OF INDIA |
KOLKATA MAIN OFFICE, KOLKATA, WEST BENGAL - 700001, INDIA |
A78085529 |
|
6 |
10192149 |
27/11/2009 |
500,000,000.00 |
UCO BANK |
FLAGSHIP CORPORATE BRANCH, 3, N.S. ROAD, KOLKATA, |
A75754978 |
|
7 |
10187404 |
11/05/2012 * |
5,805,900,000.00 |
UCO BANK |
FLAGSHIP CORPORATE BRANCH, 3, N.S. ROAD, KOLKATA, |
B40854499 |
|
8 |
10104741 |
30/04/2008 |
500,000,000.00 |
CORPORATION BANK |
BRABOURNE ROAD BRANCH, 17, BRABOURNE ROAD, KOLKATA, WEST BENGAL - 700001, INDIA |
A37584703 |
|
9 |
10109553 |
30/04/2008 |
500,000,000.00 |
UNITED BANK OF INDIA |
OLD COURT HOUSE STREET BRANCH, 11, HEMANTA BASU S |
A39951553 |
|
10 |
10190030 |
28/03/2008 |
190,000,000.00 |
NDIAN OVERSEAS BANK |
INTERNATIONAL BUSINESS BRANCH, 2, WOOD STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
A73624843 |
|
11 |
10099277 |
18/02/2008 |
220,000,000.00 |
UCO BANK |
FLAGSHIP CORPORATE BRANCH, 3, NETAJI SUBHAS ROAD,, KOLKATA, WEST BENGAL - 700001, INDIA |
A36530970 |
|
12 |
10000654 |
22/03/2013 * |
1,140,000,000.00 |
UCO BANK |
FLAGSHIP CORPORATE BRANCH, 3, N.S. ROAD BRANCH, |
B72725807 |
|
13 |
80000538 |
16/11/2010 * |
2,497,500,000.00 |
INDIAN OVERSEAS BANK |
INTERNATIONAL BUSINESS BRANCH, 2, WOOD STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
B01806769 |
|
14 |
80022221 |
10/03/2008 * |
1,544,000,000.00 |
UCO BANK |
FLAGSHIP CORPORATE BRANCH, 3, NETAJI SUBHAS ROAD, KOLKATA, WEST BENGAL - 700001, INDIA |
A38678660 |
* Date of charge modification
FIXED ASSETS:
v Land
v
v Other Building
v Computer
v Plant and machinery
v Office equipment
v Furniture and fixtures
v Telephone and telex
v Motor car
v Moulds and dyes
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. 62.41 |
|
|
1 |
Rs. 102.53 |
|
Euro |
1 |
Rs. 85.20 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPH |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
|
42 |
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.