MIRA INFORM REPORT
|
Report Date : |
25.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHYAM SEL AND POWER LIMITED (w.e.f. 22.04.2008) |
|
|
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Formerly Known
As : |
SHYAM SEL LIMITED |
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Registered
Office : |
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Country : |
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|
|
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
05.09.1991 |
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|
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Com. Reg. No.: |
21-052962 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.364.243 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109WB1991PLC052962 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALS07513C |
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|
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PAN No.: [Permanent Account No.] |
AAECS9421J |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Iron and Steel |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 23000000 |
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|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record. There appears dip in the profit of the company during the year 2013.
However, networth of the company appears to be decent. Trade relations are fair. Business is active. Payment terms are
regular and as per commitments. 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.
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 |
CRISIL |
|
Rating |
Long Term Rating = A- |
|
Rating Explanation |
Having adequate degree of safety and carry low credit risk. |
|
Date |
29.10.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A2+ |
|
Rating Explanation |
Having strong degree of safety and carry low credit risk. |
|
Date |
29.10.2013 |
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 : |
5, |
|
Tel. No.: |
91-33-40111000 / 22117794 |
|
Fax No.: |
91-33-40111031 |
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E-Mail : |
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|
Website : |
|
|
|
|
|
Corporate Office : |
“Viswakarma” 1st Floor, 86C, |
|
Tel. No.: |
91-33-4011 3000 |
|
Fax No.: |
91-33-2285 2212 |
|
E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Brij Bhushan Agarwal |
|
Designation : |
Director |
|
Address : |
3 B, |
|
Date of Birth/Age : |
13.09.1972 |
|
Date of Appointment : |
26.07.1999 |
|
DIN No.: |
01125056 |
|
PAN No.: |
ACGPA0365A |
|
|
|
|
Name : |
Mr. Pawan Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
CA-54, Sector I, |
|
Date of Birth/Age : |
01.08.1947 |
|
Date of Appointment : |
01.04.2013 |
|
DIN No.: |
00235897 |
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PAN No.: |
ACKPA5917G |
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|
|
|
Name : |
Mr. Bajrang Lal Agarwal |
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Designation : |
Director |
|
Address : |
CA-54, Sector I, |
|
Date of Birth/Age : |
20.01.1951 |
|
Date of Appointment : |
01.04.2013 |
|
DIN No.: |
00235978 |
|
PAN No.: |
ACWPA3142K |
|
|
|
|
Name : |
Mr. Deepak Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
70/2, Sambhu Nath, |
|
Date of Birth/Age : |
06.01.1974 |
|
Date of Appointment : |
25.03.2008 |
|
DIN No.: |
00560010 |
|
PAN No.: |
ADBPA4042Q |
KEY EXECUTIVES
|
Name : |
Mr. Somnath Chattopadhyay |
|
Designation : |
Secretary |
|
Address : |
544, Bosenagar, Madh, Yamgram, Kolkata-700129, West |
|
Date of Birth/Age : |
26.10.1971 |
|
Date of Appointment : |
02.01.2009 |
|
Pan No. : |
AESPC5201P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
SHAREHOLDING DETAILS FILE ATTACHED
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
85.42 |
|
Directors or relatives of Directors |
14.58 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Iron and Steel |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· Axis Bank Limited, Corporate Banking Branch (Cbb), 1, Shakespeare Sarani, Ac Market, 3rd Floor, Kolkata - 700071, West Bengal, India · DBS Bank Limited, Acting As Security Agent Of Dbs Bank Singapore, 4A, Nandlal Basu Sarani,, Kolkata - 700071, West Bengal, India · Oriental Bank Of Commerce, Park Street Branch, 107/1, Park Street (1st Floor), Kolkata - 700016, West Bengal, India · Corporate Banking Branch, Corporate Banking Branch, 17, Brabourne Road, Mookherjee House, 1st Floor, Kolkata - 700001, West Bengal, India |
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Facilities : |
(Rs.
In Millions)
|
|
|
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Banking
Relations : |
--- |
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|
|
|
Finance Institutions : |
Citicorp Finance (India) Limited, 7th Floor, Metro Plaza,
1 Ho Chi Minh Sarani, Kolkata - 700071, West Bengal, India |
|
|
|
|
Auditors : |
|
|
Name : |
J Jain and Company Chartered Accountants |
|
Address : |
23A, |
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Tel. No.: |
91-33-22302243/ 22420308 |
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Fax No.: |
91-33-22300258 |
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E-Mail : |
|
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PAN No.: |
AABFJ8069K |
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Holding Company : |
Shyam Metalics and Energy Limited |
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Subsidiary Company
: |
· Shyam Energy Limited ·
Shyam Ores (Jharkhand) Private Limited |
|
|
|
|
Enterprises over
which Key Management Personnel / Relatives have significant influence |
· Essel Plywood Private Limited · Conventary Commdeal Private Limited · Inforev Software Private Limited · Esskay Business Private Limited · Narantak Dealcomm Limited · Toplight Mercantile Private Limited · Ponni Trexim Private Limited · Shaily Sales and Services Private Limited · Kalpataru Housefin Private Limited · Subham Capital Private Limited · Dorite Tracon Private Limited · Shyam Century Multi Projects Limited · Gandhini Housing Private Limited · Shyam Greenfield Developers Private Limited · Shyam Ferro Alloys Limited · Pitamber Commercial Company Private Limited · Kalinga Energy Limited · Kalinga Infra-Projects Limited · Esteem Angan Private Limited · Pushpanjali Abasan Private Limited · Eureka Complex Private Limited · Goodlook Infracon Private Limited · Dewdrop Enclave Private Limited · Aradhana Greenfield Private Limited · Starpoint Housing Private Limited · Status Multiplex Private Limited · Wisely Real Estate Private Limited · Sunrise Plactics Private Limited · Sheetal Dealers Private Limited · Meghana Vyapar Private Limited · Avam Trades and Services Private Limited · Subhlabh Commercials Private Limited · Singbhum Steel and Power Private Limited · Shyam Solar Appliances Private Limited · Kolhan Metal and Alloys Private Limited · Shyam Emco Infrastructure Limited · Damodar Alumunium Private Limited · Gumla Alumunium Private Limited · Platinum Minmet Private Limited · Shyam Business Solution Private Limited · Sunglow Impex Private Limited · Swarnrekha Energy and Steel Private Limited · Subham Buildwel Private Limited · Whispering Developers Private Limited · Taurus Estates Private Limited · Glowing Realty Private Limited · Meadow Housing Private Limited · Sindbad Hydro Power Private Limited ·
Eureka Hydro Power Private Limited |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40100000 |
Equity Shares |
Rs.10/- each |
Rs.401.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
36424294 |
Equity Shares |
Rs.10/- each |
Rs.364.243 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 |
364.243 |
332.756 |
274.394 |
|
(b) Reserves & Surplus |
5630.790 |
4989.356 |
4369.601 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
409.362 |
|
Total
Shareholders’ Funds (1) + (2) |
5995.033 |
5322.112 |
5053.357 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3352.272 |
2008.053 |
188.391 |
|
(b) Deferred tax liabilities (Net) |
227.315 |
191.579 |
153.730 |
|
(c) Other long term liabilities |
451.034 |
834.828 |
489.677 |
|
(d) long-term provisions |
8.141 |
7.664 |
7.447 |
|
Total Non-current Liabilities (3) |
4038.762 |
3042.124 |
839.245 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1245.925 |
1807.923 |
1401.422 |
|
(b) Trade payables |
1678.674 |
1458.432 |
1018.392 |
|
(c) Other current
liabilities |
2082.426 |
1490.227 |
2493.933 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
5007.025 |
4756.582 |
4913.747 |
|
|
|
|
|
|
TOTAL |
15040.820 |
13120.818 |
10806.349 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4648.418 |
2824.460 |
2738.235 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
2686.608 |
2797.576 |
1926.089 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
294.181 |
443.656 |
697.152 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
170.157 |
308.036 |
257.048 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
7799.364 |
6373.728 |
5618.524 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3510.846 |
2662.985 |
2191.357 |
|
(c) Trade receivables |
1394.407 |
1986.218 |
1283.168 |
|
(d) Cash and cash
equivalents |
504.410 |
207.692 |
157.022 |
|
(e) Short-term loans and
advances |
1432.235 |
1655.891 |
1423.478 |
|
(f) Other current assets |
399.558 |
234.304 |
132.800 |
|
Total Current Assets |
7241.456 |
6747.090 |
5187.825 |
|
|
|
|
|
|
TOTAL |
15040.820 |
13120.818 |
10806.349 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7887.367 |
7723.095 |
6451.524 |
|
|
|
Other Income |
60.703 |
152.329 |
69.709 |
|
|
|
TOTAL (A) |
7948.070 |
7875.424 |
6521.233 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
5430.461 |
5457.199 |
3192.286 |
|
|
|
Purchases of stock-in-trade |
0.000 |
266.423 |
1489.889 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
68.846 |
34.629 |
(146.395) |
|
|
|
Employee benefit expense |
107.080 |
95.182 |
88.011 |
|
|
|
Other expenses |
1518.318 |
1246.730 |
1075.905 |
|
|
|
TOTAL (B) |
7124.705 |
7100.163 |
5699.696 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
823.365 |
775.261 |
821.537 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
188.820 |
177.584 |
159.179 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
634.545 |
597.677 |
662.358 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
391.964 |
338.911 |
312.491 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
242.581 |
258.766 |
349.867 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
48.585 |
(9.795) |
88.575 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
193.996 |
268.561 |
261.292 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.75 |
9.73 |
10.80 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.44
|
3.41 |
4.01 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.08
|
3.35 |
5.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.01
|
2.62 |
4.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.05 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.77
|
0.72 |
0.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.45
|
1.42 |
1.06 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
STEEL INDUSTRY
OVERVIEW
There is a huge growth potential in Steel consumption in India given that per capita steel consumption is very low compared to China and the global average. World steel forecasts that global apparent steel use increased by 3.6% to 1,422 Mt in 2012, following growth of 5.6% in 2011. In 2013, it was forecasted that world steel demand will grow further by 4.5% to around 1,486 Mt. and the growth rate would accelerate to 9.4 per cent on the back of urbanisation and surging infrastructure investment. But with the turbulent economic period and allout measure to clampdown inflation coupled with emerging European economic crisis and constant devaluation of money the projections were part accomplished. It could be projected that Steel consumption in India will slowly resume its growth trends in 2013-14. On the positive note, the s igns of stability are now emerging and we expect the recovery to resume in this ongoing fiscal, leading to a higher growth forecast for years to come.
Indian Steel Industry is, in a manner, insulated from the events effecting world steel industry as it is not dependent on export market. Domestic demand base will sustain the prosperity of Indian Steel Industry and the positive trend is regaining momentum. With the proposed expenditure in the 12th 5 Year Plan, turnaround is not far. According to the Report by the Ministry of steel, India has emerged as the fifth largest producer of steel in the world and is likely to become the second largest producer of crude steel by 2015-16.
OUTLOOK
Indian Steel Industry is, in a manner, insulated from the events effecting world steel industry as it is not dependent on export market. Domestic demand base will sustain the prosperity of Indian Steel Industry and the positive trend is regaining momentum. With the proposed expenditure in the 12th 5 Year Plan, turnaround is not far. To preserve the valuable natural resources the 30% ad-velorum export duty imposition on iron ores was a welcome measure for the industry as such. According to the Report by the Ministry of steel, India has emerged as the fifth largest producer of steel in the world and is likely to become the second largest producer of crude steel by 2015-16.
The Company is ready to take advantage of the growth in the iron and steel sector and upon completion and commissioning of its projects; it shall make a significant presence in the industry. The Company has an optimistic outlook ahead.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long-term
borrowings |
|
|
|
Loans and advances from related parties |
88.700 |
397.705 |
|
Total |
88.700 |
397.705 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10427295 |
20/05/2013 |
4,865,700,000.00 |
STATE BANK OF INDIA (LEAD BANK) |
COMMERCIAL BRANCH, KOLKATA, 24, PARK STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
B75675033 |
|
2 |
10427301 |
20/05/2013 |
4,865,700,000.00 |
STATE BANK OF INDIA (LEAD BANK) |
COMMERCIAL BRANCH, KOLKATA, 24, PARK STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
B75675801 |
|
3 |
10417970 |
28/02/2013 |
250,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH (CBB), 1, SHAKESPEARE SARANI, AC
MARKET, 3RD FLOOR, KOLKATA, WEST BENGAL |
B72658537 |
|
4 |
10388636 |
06/11/2012 |
855,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH (CBB), 1, SHAKESPEARE SARANI, AC
MARKET, 3RD FLOOR, KOLKATA, WEST BENGAL |
B62828934 |
|
5 |
10388728 |
17/10/2012 |
1,600,000,000.00 |
STATE BANK OF INDIA (LEAD BANK) |
COMMERCIAL BRANCH, KOLKATA, 24, PARK STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
B62862628 |
|
6 |
10361021 |
11/06/2012 |
1,120,000,000.00 |
DBS BANK LIMITED |
ACTING AS SECURITY AGENT OF DBS BANK SINGAPORE, 4 |
B41789124 |
|
7 |
10310478 |
10/10/2011 |
200,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B22669451 |
|
8 |
10310815 |
10/10/2011 |
900,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B22804355 |
|
9 |
10320250 |
07/10/2011 |
8,039,000,000.00 |
ORIENTAL BANK OF COMMERCE |
PARK STREET BRANCH,, 107/1, PARK STREET (1ST FLOOR), KOLKATA, WEST BENGAL - 700016, INDIA |
B26362947 |
|
10 |
10282559 |
28/04/2011 |
1,609,960.00 |
TATA CAPITAL LIMITED |
ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B11582822 |
* Date of charge modification
FIXED ASSETS
· Leasehold Land
· Freehold Land
· Guest House
· Factory Shed and Building
· Plant and Machinery
· Electrical and Other Installations
· OEM’s
· Vehicles
· Laboratory Equipments
· Furniture and Fixtures
· Office 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.62.18 |
|
|
1 |
Rs.103.38 |
|
Euro |
1 |
Rs.85.09 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
53 |
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.