MIRA
INFORM REPORT
|
Report Date : |
20.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
IRIS COMPUTERS LIMITED |
|
|
|
|
Registered
Office : |
E-69, Vasant Marg, Vasant Vihar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
28.08.1996 |
|
|
|
|
Com. Reg. No.: |
55-081490 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.41.368
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72100DL1996PLC081490 |
|
|
|
|
TIN No. : |
07060189977 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELI02189F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI9670H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Distributor of IT Product. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2600000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. The rating reflects established market position of ICL in the business
of distribution of computers, consistent growth in the operations, wide
distribution network, its long association with the reputed vendors and sound
general financial position of the company. Trade relations are fair. Business is active. Payment terms are
reported to be usually 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
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million estimated
losses suffered by India due to phishing attacks during the third quarter,
according to a study by RSA. India ranks fourth in the list of nations hit by
phishing attacks. The US remained at the top of the charts. Phishing is the
process of acquiring information such as user names, passwords and credit card
details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: BBB |
|
Rating Explanation |
Moderate degree at safety and moderate credit risk. |
|
Date |
15.01.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: A3 |
|
Rating Explanation |
Moderate degree at safety and high credit risk. |
|
Date |
15.01.2014 |
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
31-03-2012.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Rakesh Bihal |
|
Designation : |
Senior Account Executive |
|
Contact No.: |
91-11-26782505 |
|
Date : |
20.01.2014 |
LOCATIONS
|
Registered Office : |
E-69, Vasant Marg, Vasant Vihar, |
|
Tel. No.: |
91-11-26146808/ 26782505/ 54/ 26782505 |
|
Fax No.: |
91-11-26149613/ 26782510 |
|
E-Mail : |
sanjiv.krishen@iriscomputers.net |
|
Website : |
|
|
Locations : |
Owned |
|
|
|
|
Head Office / Branch Office: |
8, Goyal Intercity Row House Near Drive In Cinema, Drive In Road,
Thaltej, Ahmedabad, Gujarat, India |
|
|
|
|
Corporate Office : |
A-155, Road No.4, Mahipalpur, |
|
Tel. No.: |
91-11-26782505 |
|
Fax No.: |
91-11-26782510 |
DIRECTORS
As on: 25.08.2012
|
Name : |
Mr. Sanjiv Krishen |
|
Designation : |
Director |
|
Address : |
E-69, Vasant Marg, Vasant Vihar, |
|
Date of Birth/Age : |
24.03.1948 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
28.08.1996 |
|
DIN No : |
01356670 |
|
PAN No.: |
AASPK3393E |
|
|
|
|
Name : |
Mr. Som Nath Arya |
|
Designation : |
Director |
|
Address : |
M-98, Ground Floor, Saket, |
|
Date of Birth/Age : |
12.05.1944 |
|
Qualification : |
B.E. Electronics (Hons) |
|
Date of Appointment : |
15.04.2005 |
|
DIN No : |
00162973 |
|
PAN No.: |
AAAPA3428L |
|
|
|
|
Name : |
Ms. Kamini Talwar |
|
Designation : |
Director |
|
Address : |
A2/102, |
|
Date of Birth/Age : |
31.05.1960 |
|
Qualification : |
M.Com, ICWA |
|
Date of Appointment : |
15.04.2005 |
|
DIN No : |
01391323 |
|
PAN No.: |
ACDPT1406A |
KEY EXECUTIVES
|
Name : |
Mr. Rakesh Bihal |
|
Designation : |
Senior Account Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 25.08.2012
|
Names of Shareholders |
No. of Shares |
|
Sanjiv Kirshen |
1822095 |
|
Deepa Krishen |
909990 |
|
Newco Group Limited, |
335331 |
|
ESAPI Limited, |
342650 |
|
Sanjay Krishen |
38500 |
|
Som Nath Arya |
130690 |
|
Kamini Talwar |
130690 |
|
Sanjiv Krishen – HUF |
43805 |
|
Kanta Krishen |
10 |
|
Rakesh Bihal |
2000 |
|
Jairaj Singh |
1000 |
|
Manoj Kumar |
2000 |
|
Rajesh Kandpal |
1000 |
|
R. Sundaesan |
2500 |
|
Sameer Chaudhary |
5000 |
|
Kuldeep Kumar |
2000 |
|
Suresh Joshi |
1000 |
|
Anil Singh |
1000 |
|
Grechkesh Diman |
2000 |
|
Kunal Dutt Tiwari |
1000 |
|
Monica Bhatia |
1000 |
|
Neena Jaswal |
2500 |
|
Patel Nilesh |
2500 |
|
Jayesh Bhavsar |
1000 |
|
Vinod Kumar Mishra |
2500 |
|
D.V.N. Sai |
1000 |
|
Prasad M.K |
2000 |
|
Sunshine Housecon Limited, India |
50000 |
|
Sharadaraj Tradefin Limited, India |
50000 |
|
Consortium Financial Resources Limited, India |
100000 |
|
Lawrence Buildcon Limited, India |
75000 |
|
Sunmoon Vision Infradevelopers Private Limited, India |
75000 |
|
Total |
4136761 |
Equity Share Break up (Percentage of Total Equity)
As on: 25.08.2012
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
16.00 |
|
Bodies corporate |
|
8.00 |
|
Directors or relatives of directors |
|
74.00 |
|
Other top fifty shareholders |
|
2.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributor of IT Products. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash and Credit |
||||
|
|
|
||||
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
IBM Private Limited ·
Lenovo India Private Limited |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
Wholesalers and Retailers ·
Data Quest |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
250 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
Citibank N.A., Jeevan Bharti Building, 4th
Floor, 124, Connaught Circus, Connaught Place, New Delhi – 110 001, India Tel
No.: 91-11-42545512 · The Hongkong and Shanghai Banking Corporation Limited, Birla Towers, 25, Barakhambha Road,, New Delhi - 110001, Delhi, India · Axis Bank Limited, 2nd Floor, Statesman House, 148, Barakhamba Road, New Delhi - 110001, Delhi, India · ING Vysya Bank Limited, Narian Manzil, Ground Floor, Shop No. G1 To G5, I Floor, Shop No.1001 To 1007,Barakhamba Road,, New Delhi - 110001, Delhi, India · The Ratnakar Bank Limited, Shahupuri, Kolhapur, Kolhapur - 416001, Maharashtra, India · The Royal Bank of Scotland N. V., Hansalya Building, 15 Barakhamba Road, New Delhi - 110001, Delhi, India · Barclays Bank Plc, Eros Corporate Towers, Nehru Place, New Delhi-19, New Delhi - 110019, Delhi, India ·
Indian Bank, Mehrauli Institutional Area, New
Delhi - 110016, Delhi, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institution : |
SBI Factors and Commercial Services Private Limited,
903-906, Raheja Chambers, 9th Floor, Free Press Journal Marg, Nariman Point,
Mumbai - 400021, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Jain Christopher Srikanth and Srikanth Chartered Accountants |
|
Address : |
#20, 2nd Floor, Uniworth Plaza, Sankey Road , Bangalore, Karnataka, India |
|
PAN No.: |
AADFJ0586H |
|
|
|
|
Associates over which Key Managerial Personnel or their relatives are
able to exercise significant influence : |
·
IRIS Unified Technologies Limited (Previously
Known as IRIS Unified Learnings Limited) ·
IRIS CDP Rental Private Limited ·
IRIS Global Services Private Limited ·
Integer Management Services Private Limited ·
Integer Infrastructure Private Limited ·
Impact IT Solutions Private Limited ·
Impact Infrastructure Private Limited |
CAPITAL STRUCTURE
As on: 25.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs. 45.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4136761 |
Equity Shares |
Rs.10/- each |
Rs. 41.368
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
EQUITY AND
LIABILITIES |
|
|
|
|
(1) Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
41.368 |
41.368 |
37.493 |
|
(b) Reserves & Surplus |
609.796 |
578.681 |
435.406 |
|
(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) |
651.164 |
620.049 |
472.899 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
1.031 |
0.735 |
0.470 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
13.304 |
10.434 |
13.437 |
|
(d) Long-term provisions |
5.395 |
5.309 |
5.445 |
|
Total Non-current
Liabilities (3) |
19.730 |
16.478 |
19.352 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
815.675 |
625.868 |
744.558 |
|
(b) Trade payables |
3761.613 |
1815.584 |
2132.206 |
|
(c) Other current liabilities |
107.540 |
46.019 |
51.485 |
|
(d) Short-term provisions |
185.777 |
167.634 |
157.908 |
|
Total Current
Liabilities (4) |
4870.605 |
2655.105 |
3086.157 |
|
|
|
|
|
|
TOTAL |
5541.499 |
3291.632 |
3578.408 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
11.817 |
8.866 |
28.522 |
|
(ii) Intangible Assets |
0.055 |
0.208 |
0.453 |
|
(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 |
4.691 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
14.048 |
13.545 |
9.866 |
|
(d) Long-term Loan and Advances |
5.882 |
4.868 |
4.609 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
36.493 |
27.487 |
43.450 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1454.553
|
1002.259
|
654.971
|
|
(c) Trade receivables |
3801.565
|
1882.412
|
2658.813
|
|
(d) Cash and cash equivalents |
25.021
|
155.684
|
30.491
|
|
(e) Short-term loans and advances |
223.867
|
223.790
|
190.683
|
|
(f) Other current assets |
0.000
|
0.000
|
0.000
|
|
Total Current
Assets |
5505.006 |
3264.145 |
3534.958 |
|
|
|
|
|
|
TOTAL |
5541.499 |
3291.632 |
3578.408 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
16211.787 |
11039.333 |
8113.432 |
|
|
|
Other Income |
28.201 |
4.521 |
113.325 |
|
|
|
TOTAL (A) |
16239.988 |
11043.854 |
8226.757 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
16194.040 |
10950.858 |
7933.234 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(452.295) |
(347.288) |
(94.834) |
|
|
|
Employee benefit expense |
98.375 |
75.319 |
63.999 |
|
|
|
Other expenses |
93.328 |
103.391 |
105.007 |
|
|
|
TOTAL (B) |
15933.448 |
10782.280 |
8007.407 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
306.540 |
261.574 |
219.350 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
158.122 |
154.666 |
119.365 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
148.418 |
106.908 |
99.985 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.639 |
2.556 |
5.869 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
145.779 |
104.352 |
94.116 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
50.717 |
34.702 |
31.850 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
95.062 |
69.650 |
62.266 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
234.610 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Export of goods |
|
10.347 |
179.202 |
|
|
|
Export of Services |
|
0.000 |
10.939 |
|
|
TOTAL EARNINGS |
50.622 |
10.347 |
190.141 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Purchase of traded goods |
NA |
503.228 |
625.823 |
|
|
TOTAL IMPORTS |
NA |
503.228 |
625.823 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
22.98 |
18.24 |
17.40 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.59 |
0.63 |
0.76 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.90 |
0.95 |
1.17 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.63 |
3.18 |
2.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.17 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.26 |
1.01 |
1.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13 |
1.22 |
1.15 |
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 |
Yes |
|
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 |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
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 |
FINANCIAL RESULTS /
OPERATIONS
They completed one more successful year with a record revenue of Rs 16240.000 millions and a profit before tax of Rs 145.800 millions.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10460531 |
29/09/2013 |
1,687,500,000.00 |
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
BIRLA TOWERS, 25, BARAKHAMBHA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B89667430 |
|
2 |
10428720 |
29/04/2013 |
100,000,000.00 |
ING VYSYA BANK LIMITED |
NARIAN MANZIL, GROUND FLOOR, SHOP NO. G1 TO G5, IFLOOR,SHOP NO.1001 TO 1007,BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B76104983 |
|
3 |
10352103 |
21/03/2012 |
100,000,000.00 |
THE RATNAKAR BANK LIMITED |
SHAHUPURI, KOLHAPUR, KOLHAPUR, MAHARASHTRA - 416001, INDIA |
B38352951 |
|
4 |
10308044 |
02/07/2013 * |
100,000,000.00 |
AXIS BANK LIMITED |
2ND FLOOR, STATESMAN HOUSE, 148, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B82346842 |
|
5 |
10185476 |
21/10/2009 |
500,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, JAWAHAR VYAPAR BHAWAN, |
A73411100 |
|
6 |
90057264 |
28/06/2012 * |
80,000,000.00 |
CITIBANK N.A |
JEEVAN BHARTI BUILDING, 4TH FLOOR, 124, CONNAUGHT CIRCUS, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B43571967 |
* Date of charge modification
FIXED ASSETS
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Computer equipment’s
· Other equipment’s
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. 61.35 |
|
|
1 |
Rs. 100.21 |
|
Euro |
1 |
Rs. 83.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
DPH / KVT |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
|
45 |
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.