MIRA INFORM REPORT
|
Report Date : |
20.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
TWENTY FIRST CENTURY WIRE ROADS LIMITED |
|
|
|
|
Registered
Office : |
E- 220, Greater Kailash – I, New Delhi – 110048 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
08.10.1996 |
|
|
|
|
Com. Reg. No.: |
55-082467 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 80.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100DL1996PLC082467 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer Sponge Iron, Mild Steel (MS) Ingots and Billets |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1680000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Management of the company not filed its latest financial i.e. March
2013 with the government department. As per ROC the date of balance sheet (i.e., financial filed) is shown
as 31.03.2012 but the documents related to the financial for the year 2012
are not available from any sources As per the available financial of march 2011, there seems a drastic
dip in the profits of the company However, trade relations are reported to be fair. Business is active.
Payments terms are unknown. 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 |
CARE |
|
Rating |
Long Term Bank Facilities (BBB) |
|
Rating Explanation |
Moderate degree of safety. It carry Moderate
credit risk. |
|
Date |
07.04.2014 |
|
|
|
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities |
|
Rating Explanation |
Moderate degree of safety. It carry higher
credit risk. |
|
Date |
07.04.2014 |
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 DENIED BY
|
Name : |
Ms. Meena Bhatia |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-11-65062076 |
|
Date : |
18.06.2014 |
LOCATIONS
|
Registered Office : |
E- 220, Greater Kailash – I, New Delhi – 110048, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
No 501, Garden View, Gulmohar Park, Gulmohar Road, JVPD Juhu, Mumbai –
400049, Maharashtra, India |
|
Tel. No.: |
91-11-65062076 |
|
|
|
|
Factory 1 : |
Survey No. 108/8/3, Surangi Road, Khadol, Silvassa, Dadra and Nagar Haveli, UT, India |
DIRECTORS
As on ; 29.09.2012
|
Name : |
Mr. Darshan Bharat Churiwala |
|
Designation : |
Director |
|
Address : |
Flat No. 2, Manmndir Apartment, Indra Narayane Lane, Santracruz
(West), Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
09.12.1978 |
|
Date of Appointment : |
06.11.2000 |
|
DIN No.: |
00319952 |
|
|
|
|
Name : |
Mr. Gaurav Vinod Kumar Goel |
|
Designation : |
Director |
|
Address : |
301/ 302, Vikas Villa Janki Kutir, Juhu, Ville Parle (West), Mumbai –
400049, Maharashtra, India |
|
Date of Birth/Age : |
13.12.1981 |
|
Date of Appointment : |
20.06.2009 |
|
DIN No.: |
|
|
|
|
|
Name : |
Mr. Vinod Goel |
|
Designation : |
Director |
|
Address : |
301/ 302, Vikas Villa Janki Kutir, Juhu, Ville Parle (West), Mumbai – 400049,
Maharashtra, India |
|
Date of Birth/Age : |
31.03.1958 |
|
Date of Appointment : |
20.06.2009 |
|
DIN No.: |
|
|
|
|
|
Name : |
Mr. Nikhil Vinod Goel |
|
Designation : |
Director |
|
Address : |
301/ 302, Vikas Villa Janki Kutir, Juhu, Ville Parle (West), Mumbai –
400049, Maharashtra, India |
|
Date of Birth/Age : |
26.03.1985 |
|
Date of Appointment : |
16.04.2003 |
|
DIN No.: |
02091583 |
|
|
|
|
Name : |
Ms. Smita Harish Kuber |
|
Designation : |
Nominee Director |
|
Address : |
C – 21, Maker Kundan Garden, Juhu Tara Road, Santacruz (West), Mumbai,
Maharashtra, India |
|
Date of Birth/Age : |
10.01.1974 |
|
Date of Appointment : |
28.08.2013 |
|
DIN No.: |
06709736 |
|
|
|
|
Name : |
Sundaram Balasubramanian |
|
Designation : |
Director |
|
Address : |
E-103 Raheja Atlantis Sector-31 Gurgaon 122001 Haryana India |
|
Date of Birth/Age : |
03/11/1942 |
|
Date of Appointment : |
17.10.2013 |
|
DIN No.: |
02849971 |
|
|
|
|
Name : |
Naval Kishore Vasu |
|
Designation : |
Additional Director |
|
Address : |
684, Sector 20a, Chandigarh – 160019, Punjab, India |
|
Date of Birth/Age : |
11.08.1956 |
|
Date of Appointment : |
29.09.2012 |
|
DIN No.: |
02232215 |
KEY EXECUTIVES
|
Name : |
Ms. Meena Bhatia |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Nikhil Goel |
|
1,834,800 |
|
Bharat Churiwala |
|
7500 |
|
Mohita Churiwala |
|
12,500 |
|
Sujata Goel |
|
1,529,800 |
|
Namrata Churiwala |
|
5,000 |
|
Pooja Churiwala |
|
5,000 |
|
Pramod Churiwala |
|
7,500 |
|
Rajiv Choudhary |
|
12,500 |
|
Gaurav Goel |
|
2,204,005 |
|
Darshan Churiwala |
|
200,000 |
|
Vinod Goel |
|
2,181,395 |
|
Total |
|
8,000,000 |
As on: 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
80.00 |
|
Other |
20.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer Sponge Iron, Mild Steel (MS) Ingots and Billets |
||||
|
|
|
||||
|
Products : |
Ø Iron Ore Ø Sponge Iron Ø Billets Ø Structural Steel Ø Stainless Steel
(Alloy Steel) |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||
|
|
|
|||||||||
|
Bankers : |
|
|||||||||
|
|
|
|||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
S. V. Dedhia and Associates Chartered Accountants |
|
Address : |
201, Hans Apartment, Opposite Dagdi Municipal School, Nton Francies
Road, Charai, Thane (West) – 400601, Maharashtra, India |
|
PAN No.: |
AIXPG5832D |
|
|
|
|
Associates/Subsidiaries : |
Twenty First Century Iron & Steels Limited, India CIN :
U45200MH1999PLC122749 |
CAPITAL STRUCTURE
As on: 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
Rs.10/- each |
Rs. 80.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
80.000 |
80.000 |
80.000 |
|
|
2] Share Application Money |
52.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
375.569 |
372.884 |
342.209 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
975.569 |
452.884 |
422.209 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
373.213 |
355.643 |
223.886 |
|
|
2] Unsecured Loans |
0.000 |
138.560 |
11.884 |
|
|
TOTAL BORROWING |
373.213 |
494.203 |
235.770 |
|
|
DEFERRED TAX LIABILITIES |
14.161 |
16.658 |
21.876 |
|
|
|
|
|
|
|
|
TOTAL |
1362.943 |
963.745 |
679.855 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
320.747 |
355.402 |
343.598 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
44.789 |
|
|
|
|
|
|
|
|
INVESTMENT |
434.450 |
135.050 |
65.050 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
568.127
|
322.731 |
146.198 |
|
|
Sundry Debtors |
214.501
|
483.506 |
238.698 |
|
|
Cash & Bank Balances |
80.867
|
18.314 |
29.861 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
95.817
|
591.005 |
776.295 |
|
Total
Current Assets |
959.312
|
1415.556 |
1191.052 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
0.000 |
0.000 |
|
|
Other Current Liabilities |
287.734
|
872.123 |
902.875 |
|
|
Provisions |
63.832
|
70.411 |
62.030 |
|
Total
Current Liabilities |
351.566
|
942.534 |
964.905 |
|
|
Net Current Assets |
607.746
|
473.022 |
226.147 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.271 |
0.271 |
|
|
|
|
|
|
|
|
TOTAL |
1362.943 |
963.745 |
679.855 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2499.969 |
2021.715 |
2017.746 |
|
|
|
Other Income |
2.276 |
1.673 |
4.700 |
|
|
|
TOTAL (A) |
2502.245 |
2023.388 |
2022.446 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
2007.385 |
|
|
|
|
|
Administrative Expenses |
321.286 |
377.788 |
|
|
|
|
Advertising Expenses |
25.264 |
22.967 |
|
|
|
|
|
33.723 |
61.964 |
|
|
|
|
TOTAL (B) |
2387.658 |
1882.045 |
1891.890 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
114.587 |
141.343 |
(Including
Financial Expenses) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
65.335 |
48.428 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
49.252 |
92.915 |
130.556 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
48.979 |
53.936 |
42.608 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.273 |
38.979 |
87.948 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
98.054 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.273 |
38.979 |
(10.106) |
|
|
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
|
F.O.B. Value of Exports |
154.636 |
488.747 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.03 |
3.80 |
6.21 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.01 |
1.93 |
(0.50) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.01 |
1.93 |
4.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.00
|
1.66 |
3.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.09 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.38
|
1.09 |
0.56 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.58
|
2.99 |
5.27 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
80.000 |
80.000 |
80.000 |
|
Reserves & Surplus |
342.209 |
372.884 |
375.569 |
|
Share Application Money |
0.000 |
0.000 |
52.000 |
|
Net
worth |
422.209 |
452.884 |
975.569 |
|
|
|
|
|
|
long-term borrowings |
223.886 |
355.643 |
373.213 |
|
Short term borrowings |
11.884 |
138.560 |
0.000 |
|
Total
borrowings |
235.770 |
494.203 |
373.213 |
|
Debt/Equity
ratio |
0.558 |
1.091 |
0.383 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2017.746 |
2021.715 |
2499.969 |
|
|
|
0.197 |
23.656 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2017.746 |
2021.715 |
2499.969 |
|
Profit |
(10.106) |
38.979 |
0.273 |
|
|
(0.50)% |
1.93% |
0.01% |
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 |
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 |
No |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10379530 |
01/02/2013 * |
550,000,000.00 |
ING VYSYA BANK LIMITED |
22,GROUND
FLOOR,,ING VYSYA HOUSE,M.G.ROAD, BANG |
B69265692 |
|
2 |
10123501 |
09/10/2013 * |
2,000,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHA |
B89310429 |
* Date of charge modification
UNSECURED LOAN
(Rs. In Millions)
|
Particulars |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Working capital loans unsecured |
0.000 |
135.981 |
|
Loans directors |
0.000 |
2.579 |
|
Total |
0.000 |
138.560 |
FIXED ASSETS
Ø Mining Rights
Ø Land
Ø Factory Building
Ø Office Premises
Ø Plant and Machinery
Ø Air Conditioner
Ø Electric Installation
Ø Furniture and Fixtures
Ø Office Equipments
Ø Utility Installation
Ø Auxilliary Equipments
Ø Laboratory Equipments
Ø Computer and Peripherals
Ø Vehicles
Ø Refrigerator
Ø Cellular Phones
Ø Generator Set
Ø Weight Bridge
Ø Water Cooler
Ø D.G Set
Ø Excavator Kobelco
Ø Screener
Ø Core Crusher
Ø Tata Wheel Loader
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.102.05 |
|
Euro |
1 |
Rs.81.71 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SBN |
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 |
2 |
|
--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 |
|
31 |
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.