MIRA
INFORM REPORT
|
Report Date : |
14.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
SREE VISHNU MAGNETICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit Nos. 1 and 2, Block II, SIDCO Electronic Complex, Guindy Industrial
Estate, Chennai – 600032, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.03.2003 |
|
|
|
|
Com. Reg. No.: |
18-050543 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.31.030 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909TN2003PTC050543 |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer of Coils and Transformers |
|
|
|
|
No. of Employees
: |
Information declined by the management |
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 400000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There seems some continuous dip in the profits of the company,
borrowings of the company seems to be huge and increasing during 2013. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company can be considered for business dealings 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
N E W S
The economy grew 4.7 %in 2013/14, marking a second
straight year of sub-5 % growth – the worst slowdown in more than a quarter of
a century. The data was below an official estimate of 4.9 % annual growth and
compared with 4.5 % in the last fiscal year. However, the current account
deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product,
in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A
sharp fall in gold imports due to restrictions on overseas purchases and muted
import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loan Facilities = BB |
|
Rating Explanation |
Moderate risk of default |
|
Date |
March 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Fund Based Facilities = A4+ |
|
Rating Explanation |
Minimal degree of safety it carry very high credit risk. |
|
Date |
March 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 DECLINED BY
|
Name : |
Mr. S. Jaykumar |
|
Designation : |
Operation Department |
|
Contact No.: |
91-44-27438531 / 53 |
|
Date : |
10.07.2014 |
LOCATIONS
|
Registered Office : |
Unit Nos. 1 and 2, Block II, SIDCO Electronic Complex, Guindy Industrial
Estate, Chennai – 600032, Tamilnadu, India |
|
Tel. No.: |
91-44-22501789/ 6544582/ 26341217 |
|
Fax No.: |
91-44-22501789 / 22501859 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Survey No.9/1, Thiruvalluvar Salai, Kannivakkam Village,
Guduvancherry Kancheepuram District Pin 603 202, Tamilnadu, India |
|
Tel. No.: |
91-44-27438531 / 27438532/ 43534642 |
|
Fax No.: |
91-44-27438522/ 22501789 |
|
E-Mail : |
DIRECTORS
As on 02.09.2013
|
Name : |
Mrs. Meka Hemalatha |
|
Designation : |
Director |
|
Address : |
No. 7, Old No. 1, Gandhi Street, Kaveri Nagar, Chennai – 600015,
Tamilnadu, India |
|
Date of Birth/Age : |
02.06.1963 |
|
Date of Appointment : |
20.03.2003 |
|
DIN No.: |
00220318 |
|
|
|
|
Name : |
Mr. Meka Ram Prasad |
|
Designation : |
Director |
|
Address : |
No. 7, Old No. 1, Gandhi Street, Kaveri Nagar, Chennai – 600015,
Tamilnadu, India |
|
Date of Birth/Age : |
10.06.1961 |
|
Date of Appointment : |
20.03.2003 |
|
DIN No.: |
00220326 |
KEY EXECUTIVES
|
Name : |
Mr. S. Jaykumar |
|
Designation : |
Operation Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 02.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
M Ram Prasad |
|
1727000 |
|
M Hemalatha |
|
1911000 |
|
M Rajashree |
|
90000 |
|
M Tejashree |
|
55000 |
|
Total |
|
3783000 |
As on 02.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Coils and Transformers |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||
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|
|||||||||||||||||||||
|
Bankers : |
Indian Overseas Bank, West City Nagar Bracnh, No,57, First Main Road, City
Nagar, Chennai – 600035, Tamilnadu, India |
|||||||||||||||||||||
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|
|
|||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Financial Institution : |
Tamilnadu Industrial Investment Corporation Limited, No.692, Anna
Salai, Nandanam, Chennai – 600035, Tamilnadu, India |
|
Auditors : |
|
|
Name : |
Panneer Chelvana Chartered Accountants |
|
Address : |
No.10, Krishna Street, Off Valluvarkottam High Road, Nungambakkam,
Chennai – 600034, Tamilnadu, India |
|
Tel. No.: |
91-44-28270203 / 28270304 |
|
E-Mail : |
|
|
PAN No.: |
AAOPP8549D |
CAPITAL STRUCTURE
As on 02.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3783000 |
Equity Shares |
Rs.10/- each |
Rs. 37.830
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 |
37.830 |
31.030 |
24.830 |
|
(b) Reserves & Surplus |
63.680 |
57.968 |
48.278 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
1.741 |
1.400 |
|
Total
Shareholders’ Funds (1) + (2) |
101.510 |
90.739 |
74.508 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
88.823 |
67.770 |
82.111 |
|
(b) Deferred tax liabilities (Net) |
6.793 |
5.829 |
6.353 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
95.616 |
73.599 |
88.464 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
137.118 |
127.097 |
129.600 |
|
(b) Trade payables |
66.041 |
31.046 |
33.352 |
|
(c) Other current
liabilities |
30.249 |
26.333 |
29.748 |
|
(d) Short-term provisions |
1.310 |
4.868 |
7.300 |
|
Total Current Liabilities (4) |
234.718 |
189.344 |
200.000 |
|
|
|
|
|
|
TOTAL |
431.844 |
353.682 |
362.972 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
178.087 |
162.205 |
180.926 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
3.770 |
3.770 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8.188 |
18.131 |
16.907 |
|
(e) Other Non-current assets |
0.004 |
0.008 |
0.012 |
|
Total Non-Current Assets |
190.049 |
184.114 |
197.845 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
1.800 |
1.500 |
1.250 |
|
(b) Inventories |
128.079 |
101.118 |
80.821 |
|
(c) Trade receivables |
90.590 |
59.961 |
75.348 |
|
(d) Cash and cash
equivalents |
12.723 |
2.167 |
2.746 |
|
(e) Short-term loans and
advances |
4.812 |
2.367 |
2.923 |
|
(f) Other current assets |
3.791 |
2.455 |
2.039 |
|
Total Current Assets |
241.795 |
169.568 |
165.127 |
|
|
|
|
|
|
TOTAL |
431.844 |
353.682 |
362.972 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
NA |
NA |
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
NA |
NA |
NA |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
67.075 |
73.542 |
88.422 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
33.054 |
30.126 |
33.305 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
34.021 |
43.416 |
55.117 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
25.489 |
28.130 |
27.490 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
8.532 |
15.286 |
27.627 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.820 |
5.596 |
9.773 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5.712 |
9.690 |
17.854 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
57.968 |
48.278 |
30.424 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
63.680 |
57.968 |
48.278 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
307.432 |
198.070 |
268.941 |
|
|
|
Capital Goods |
30.650 |
6.725 |
19.362 |
|
|
TOTAL IMPORTS |
338.082 |
204.795 |
288.303 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.51 |
3.12 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.99 |
4.37 |
7.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.17 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.23 |
2.15 |
2.84 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03 |
0.90 |
0.83 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
24.830 |
31.030 |
37.830 |
|
Reserves & Surplus |
48.278 |
57.968 |
63.680 |
|
Share Application money
pending allotment |
1.400 |
1.741 |
0.000 |
|
Net
worth |
74.508 |
90.739 |
101.510 |
|
|
|
|
|
|
long-term borrowings |
82.111 |
67.770 |
88.823 |
|
Short term borrowings |
129.600 |
127.097 |
137.118 |
|
Total
borrowings |
211.711 |
194.867 |
225.941 |
|
Debt/Equity
ratio |
2.841 |
2.148 |
2.226 |
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
No |
|
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 |
No |
|
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 |
Note:
The registered office of the company has been shifted from
No.7, Gandhi Street, Kaveri Nagar, Saidapet, Chennai – 600015, Tamilnadu, India
to present
address w.e.f.01.09.2007
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long Term
Borrowing |
|
|
|
Loans and
Advances form related parties |
|
|
|
Sree Vishnu Electron |
18.744 |
19.119 |
|
Total |
18.744 |
19.119 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10407218 |
20/02/2013 |
28,000,000.00 |
TAMILNADU INDUSTRIAL INVESTMENT CORPORATION LIMITE |
NO.692, ANNA SALAI,, NANDANAM, CHENNAI, TAMILNADU - 600035, INDIA |
B69256931 |
|
2 |
10376997 |
07/09/2012 |
10,000,000.00 |
TAMILNADU INDUSTRIAL INVESTMENT CORPORATION LIMITE |
NO.692, ANNA SALAI,, NANDANAM, CHENNAI, TAMILNADU - 600035, INDIA |
B58307257 |
|
3 |
10363303 |
20/06/2012 |
5,600,000.00 |
TAMILNADU INDUSTRIAL INVESTMENT CORPORATION LIMITE |
NO.692, ANNA SALAI,, NANDANAM, CHENNAI, TAMILNADU - 600035, INDIA |
B42747147 |
|
4 |
10282073 |
11/04/2011 |
5,600,000.00 |
TAMILNADU INDUSTRIAL INVESTMENT CORPORATION LIMITE |
NO.692, ANNA SALAI,, NANDANAM, CHENNAI, TAMILNADU - 600035, INDIA |
B11443918 |
|
5 |
10211189 |
27/03/2010 |
2,510,000.00 |
TAMILNADU INDUSTRIAL INVESTMENT CORPORATION LIMITE |
NO.692, ANNA SALAI,, NANDANAM, CHENNAI, TAMILNADU - 600035, INDIA |
A82805441 |
|
6 |
10215576 |
27/03/2010 |
7,490,000.00 |
TAMILNADU INDUSTRIAL INVESTMENT CORPORATION LIMITE |
NO.692, ANNA SALAI,, NANDANAM, CHENNAI, TAMILNADU - 600035, INDIA |
A82804345 |
|
7 |
10134053 |
12/12/2008 |
42,000,000.00 |
TAMILNADU INDUSTRIAL INVESTMENT CORPORATION LIMITE |
NO.692, ANNA SALAI,, NANDANAM, CHENNAI, TAMILNADU - 600035, INDIA |
A52767688 |
|
8 |
10125467 |
29/09/2008 |
12,000,000.00 |
TAMILNADU INDUSTRIAL INVESTMENT CORPORATION LIMITE |
NO.692, ANNA SALAI,, NANDANAM, CHENNAI, TAMILNADU - 600035, INDIA |
A47995311 |
|
9 |
10059824 |
10/05/2012 * |
8,880,000.00 |
THE TAMILNADU INDUSTRIAL INVESTMENT CORPORATION LI |
NO.692, ANNA SALAI,, NANDANAM, CHENNAI, TAMILNADU - 600035, INDIA |
B39575295 |
|
10 |
10045340 |
10/05/2012 * |
4,726,000.00 |
THE TAMILNADU INDUSTRIAL INVESTMENT CORPORATION LI |
NO.692, ANNA SALAI,, NANDANAM, CHENNAI, TAMILNADU - 600035, INDIA |
B39575618 |
|
11 |
90288395 |
28/02/2014 * |
233,259,600.00 |
INDIAN OVERSEAS BANK |
WEST CIT NAGAR BRANCH, NO.57, FIRST MAIN ROAD, CIT NAGAR, CHENNAI, TAMILNADU - 600035, INDIA |
C01011055 |
* Date of charge modification
FIXED ASSETS
·
Land
·
Building
·
Pant Equipment
·
Factory Equipment
·
Electrical Fittings
·
Electrical Motors
·
Furniture’s and Fixtures
·
Air Conditioner
·
Call Phone
·
Office Equipment
·
Water Filter
·
Vehicle
·
Computer Software
·
Weighing Scale
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. |
|
|
1 |
Rs. |
|
Euro |
1 |
Rs. |
INFORMATION DETAILS
|
Information
Gathered by : |
|
|
|
|
|
Analysis Done by
: |
|
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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.