MIRA
INFORM REPORT
|
Report Date : |
25.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
SANGHAVI BOTHRA ENGINEERING COMPANY PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
SANGHAVI BOTHRA FINANCE AND LEASING COMPANY PRIVATE LIMITED |
|
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Registered
Office : |
R. No. 2, 2nd Floor, 56, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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|
|
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Date of Incorporation
: |
07.10.1996 |
|
|
|
|
Com. Reg. No.: |
11-103094 |
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Capital
Investment / Paid-up Capital : |
Rs. 15.858 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74140MH1996PTC103094 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
Line of Business
: |
Trader of Metal and Alloys. |
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|
|
|
No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The company has seen a moderation in its financial profile marked by
adequate networth base along with slow realisation of debtors, accrued
payables and significant inventory buildup resulting into working capital
requirements which inturn may affect the liquidity position of the entity. Management has witnessed a dip in its net profitability as well as has
reported a thin profitability on account of limited value adding nature of
the trading business and intense competition during FY 13. However, trade relations seem to be fair. Business is active. Payment
terms are reported as slow but correct. In view of extensive experience of the promoters, the subject 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.
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 |
Cash Credit Limits : “BB-” |
|
Rating Explanation |
Moderate risk of default regarding timely
servicing of debt obligations. |
|
Date |
March, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Letter of Credit Limits : “A4” |
|
Rating Explanation |
Minimal degree of safety and 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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Vipul Shah |
|
Designation : |
Sales Manager |
|
Contact No.: |
91-22-23466217 |
|
Date : |
23.07.2014 |
LOCATIONS
|
Registered Office : |
R. No. 2, 2nd Floor, 56, |
|
Tel. No. : |
91-22-23466221/ 17/ 40416200/ 22428527 |
|
Mobile No. : |
91-9821053289 (Mr. Dinesh Shah) |
|
Fax No. : |
91-22-23452161/ 40416241 |
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E-Mail : |
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|
Website : |
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|
Area : |
700 Sq.ft. |
|
Location : |
Owned |
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|
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|
Warehouse : |
Located at · Kalamboli, Navi Mumbai, India |
DIRECTORS
As on 18.09.2013
|
Name : |
Mr. Hastimal Vachraj Shah |
|
Designation : |
Director |
|
Address : |
134, V. P. Road, Sikka Nagar, K-4, 1st Floor, Mumbai – 400004, Maharashtra, India |
|
Date of Birth/Age : |
02.09.1956 |
|
Date of Appointment : |
07.10.1996 |
|
DIN No. : |
00413127 |
|
|
|
|
Name : |
Mr. Ramesh Vachraj Shah |
|
Designation : |
Director |
|
Address : |
134, V. P. Road, Sikka Nagar, K-4, 1st Floor, Mumbai – 400004, Maharashtra, India |
|
Date of Birth/Age : |
19.07.1964 |
|
Date of Appointment : |
07.10.1996 |
|
DIN No. : |
00413161 |
|
|
|
|
Name : |
Mr. Laxmichand Vachraj Shah |
|
Designation : |
Director |
|
Address : |
134, V. P. Road, Sikka Nagar, K-9, 1st Floor, Mumbai – 400004, Maharashtra, India |
|
Date of Birth/Age : |
15.06.1959 |
|
Date of Appointment : |
07.10.1996 |
|
DIN No. : |
00413215 |
|
|
|
|
Name : |
Mr. Dinesh Vachhraj Shah |
|
Designation : |
Director |
|
Address : |
Alaknanda Co-operative Housing Society, 5th Floor, Block - 18, V. P. Road, Dr. Deshmukh Lane, Mumbai – 400004, Maharashtra, India |
|
Date of Birth/Age : |
15.09.1960 |
|
Date of Appointment : |
07.10.1996 |
|
DIN No. : |
00413253 |
|
|
|
|
Name : |
Mr. Jaywant Hastimal Shah |
|
Designation : |
Director |
|
Address : |
134, V. P. Road, Sikka Nagar, K-4, 1st Floor, Mumbai – 400004, Maharashtra, India |
|
Date of Birth/Age : |
17.10.1980 |
|
Date of Appointment : |
24.10.2008 |
|
DIN No. : |
02173785 |
KEY EXECUTIVES
|
Name : |
Mr. Vipul Shah |
|
Designation : |
Sales Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 18.09.2013
|
Names of Shareholders |
No. of Shares |
|
Hastimal Vachharaj Shah |
8820 |
|
Laxmichand Vachhraj Shah |
8820 |
|
Dinesh Vachhraj Shah |
8820 |
|
Ramesh Vachhraj Shah |
15820 |
|
Taraben Hastimal Shah |
350 |
|
Madhuben Laxmichand Shah |
1650 |
|
Rekha Dinesh Shah |
6650 |
|
Sangita Ramesh Shah |
8750 |
|
Jaywant Hastimal Shah |
12600 |
|
Narendra Hastimal Shah |
3500 |
|
Raju Laxmichand Shah |
9800 |
|
Deepak Laxmichand Shah |
9100 |
|
Vipul Dinesh Shah |
9100 |
|
Vikas Dinesh Shah |
10500 |
|
Sapna Jaywant Shah |
9100 |
|
Dimpal Raju Shah |
6300 |
|
Ramesh V. Bothra HUF |
9800 |
|
Hemendra R. Shah |
5100 |
|
H.V. Bothra HUF |
2550 |
|
J.H. Shah HUF |
2550 |
|
L.V. Bothra HUF |
3800 |
|
D.V. Bothra HUF |
3800 |
|
Nikita M. Jain |
1300 |
|
Total |
158580 |
As on 18.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
85.81 |
|
Other top fifty Shareholders |
14.19 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Metal and Alloys. |
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Products : |
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Exports : |
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Products : |
Metal and Alloys |
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Countries : |
· South East Europe Asia Taiwan |
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Imports : |
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Products : |
Metal and Alloys |
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Countries : |
· Japan Europe Africa America |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
· Jacquest Export JLC Electromet Private Limited Metinvest Nichel Crom S.P.A. Nicomet Stainless Steel Stappert Deutschland GmbH Toste Company Limited |
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Customers : |
Others · H.D. Wire Private Limited Nimit Steel and Alloys Private Limited Richfield Engg. India Private Limited Verga Attachments Private Limited Ador Weling Limited Diffusion Engineers Limited Everest Steel Gaurav Metal Gautam Impex Jagmani Metals Jainson Steel Centre |
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No. of Employees : |
20 (Approximately) |
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Bankers : |
· Union Bank of India, United Bank of India Building, 25 Sir PM Road, Fort, Mumbai – 400001, Maharashtra, India Bank of Baroda, Gulalwadi Branch, 24/30, 2nd
Panjarapole Lane, C. P. Tank Road, Mumbai - 400004, Maharashtra, India Union Bank of India, MMO Branch, Mumbai, Maharashtra,
India · IDBI Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Kirti Doshi and Company Chartered Accountants |
|
Address : |
Nalini Bldg., 1st Floor, Bhavani Shankar Road, Dadar (W.R.), Mumbai – 400028, Maharashtra, India |
|
Tel. No. : |
91-22-24362894/ 23434211/ 23434138 |
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Income-tax
PAN of auditor or auditor's firm : |
AABPD7084Q |
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|
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Sisters Concern
: |
Shah Hastimal Laxmichand and Company |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
199,000 |
Equity Shares |
Rs.100/- each |
Rs. 19.900 Millions |
|
1,000 |
Preference Shares |
Rs.100/- each |
Rs. 0.100 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 20.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
158,580 |
Equity Shares |
Rs.100/- each |
Rs. 15.858 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 |
15.858 |
15.858 |
13.818 |
|
(b) Reserves & Surplus |
30.754 |
25.737 |
17.184 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
1.000 |
|
Total
Shareholders’ Funds (1) + (2) |
46.612 |
41.595 |
32.002 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.014 |
0.026 |
|
(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) |
0.000 |
0.014 |
0.026 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
124.932 |
43.404 |
60.373 |
|
(b) Trade payables |
228.962 |
54.401 |
138.047 |
|
(c) Other current liabilities |
3.548 |
7.622 |
1.725 |
|
(d) Short-term provisions |
6.447 |
4.099 |
4.394 |
|
Total Current Liabilities (4) |
363.889 |
109.526 |
204.539 |
|
|
|
|
|
|
TOTAL |
410.501 |
151.135 |
236.567 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2.685 |
2.180 |
1.281 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.053 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
6.615 |
4.378 |
4.092 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
9.353 |
6.558 |
5.373 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
268.629 |
44.944 |
113.477 |
|
(c) Trade receivables |
112.484 |
79.338 |
98.446 |
|
(d) Cash and cash
equivalents |
16.708 |
16.161 |
16.646 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
3.327 |
4.134 |
2.625 |
|
Total Current Assets |
401.148 |
144.577 |
231.194 |
|
|
|
|
|
|
TOTAL |
410.501 |
151.135 |
236.567 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
471.270 |
506.877 |
450.955 |
|
|
|
Other Income |
8.426 |
8.919 |
14.940 |
|
|
|
TOTAL |
479.696 |
515.796 |
465.895 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
5.016 |
7.180 |
7.661 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
0.000 |
5.373 |
0.000 |
|
|
TOTAL EARNINGS |
0.000 |
5.373 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stock in Trade |
NA |
292.675 |
352.786 |
|
|
TOTAL IMPORTS |
NA |
292.675 |
352.786 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
31.63 |
45.28 |
55.44 |
|
|
Particulars |
|
|
31.03.2014 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
550.000 |
|
|
|
|
|
The above information has been parted by Mr. Vipul Shah (Sales Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.05 |
1.39 |
1.64 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.68 |
1.04 |
1.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10 |
1.32 |
1.13 |
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 |
13.818 |
15.858 |
15.858 |
|
Reserves & Surplus |
17.184 |
25.737 |
30.754 |
|
Share Application money
pending allotment |
1.000 |
0.000 |
0.000 |
|
Net
worth |
32.002 |
41.595 |
46.612 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
60.373 |
43.404 |
124.932 |
|
Total
borrowings |
60.373 |
43.404 |
124.932 |
|
Debt/Equity
ratio |
1.887 |
1.043 |
2.680 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
450.955 |
506.877 |
471.270 |
|
|
|
12.401 |
-7.025 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
450.955 |
506.877 |
471.270 |
|
Profit |
7.661 |
7.180 |
5.016 |
|
|
1.70% |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
four 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) |
Yes |
|
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 |
CURRENT MATURITIES
OF LONG TERM DEBTS: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10228932 |
03/05/2012 * |
200,000,000.00 |
UNITED BANK OF INDIA |
UNITED BANK OF INDIA BUILDING, 25 SIR PM ROAD,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B39885306 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and Advances from Related Parties |
29.291 |
14.323 |
|
Total |
29.291 |
14.323 |
OPERATION AND
OUTLOOK
During the year the company earned an income of Rs. 479.696 Millions by way of sales and other Income as against Rs. 515.796 Millions achieved during the corresponding period of previous year. After offsetting the expenses the company made a profit (after tax) Rs. 5.016 Millions as against Rs. 7.180 Millions achieved during the corresponding period of the previous year. The directors are optimistic about the future of the company.
FIXED ASSETS
Tangible Assets
· Computer
Warehousing
Plot
Sleder
Machine
Air
Condition
EPBX
System
Weight
Scale
Xerox
Machine
Furniture
and Fixture
Car
Scanner
Tea
Maker
CCTV
Camera
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.60.00 |
|
|
1 |
Rs.102.19 |
|
Euro |
1 |
Rs.80.68 |
INFORMATION DETAILS
|
Information Gathered
by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.