|
Report Date : |
21.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
GOA SHIPYARD LIMITED |
|
|
|
|
Registered
Office : |
Vasco Da Gama, Goa - 403802 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
29.09.1967 |
|
|
|
|
Com. Reg. No.: |
24-000077 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.291.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63032GA1967GOI000077 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
BLRG03202D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG7569F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Shipbuilders, Ship Repairs and Engineers. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (57) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 250000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exits |
|
|
|
|
Comments : |
Subject is a Union Government Company. It is a well-established and
reputed company having a good track record. There appears dip in the
profitability of the company. However, general financial position of the company seems to be strong.
Fundamentals are healthy liquidity position of the company seems to be good. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitments. The company can be considered for normal business dealings at usual
trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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.
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. P N S Chauhan |
|
Designation : |
General Manager in finance |
|
Contact No.: |
91-832-2512152 |
|
Date : |
11.02.2014 |
LOCATIONS
|
Registered Office : |
Vasco Da Gama, Goa – 403802, India |
|
Tel. No.: |
91-832-2512152 (5 Lines)/ 2513954/ 2512359/ 2513943/ 2514083 |
|
Fax No.: |
91-832-2513870/ 2513943/ 2513260/ 2512148/ 2514232 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Rented |
|
|
|
|
Mumbai Office: |
Mazagon Dock Limited, Dockyard Road, Mumbai – 400010, Maharashtra,
India |
|
Tel. No.: |
91-22-23738321/ 23738747/ 23738749 |
|
Fax No.: |
91-22-23738140 |
|
E-Mail : |
|
|
Location : |
Rented |
|
|
|
|
Delhi Office/ Unit : |
‘H’ Block, Defence Headquarters, DHQ Post Office, New Delhi-110011,
India |
|
Tel. No.: |
91-11-23015681 |
|
Fax No.: |
91-11-23792311 |
DIRECTORS
As on 24.09.2013
|
Name : |
Mr. Vineet Bakshi |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
Shipyard House, |
|
Date of Birth/Age : |
11.01.1954 |
|
Date of Appointment : |
01.03.2010 |
|
DIN No.: |
02960365 |
|
|
|
|
Name : |
Mr. Rangila Choudhary |
|
Designation : |
Whole Time Director |
|
Address : |
131 A Duplex Bunglow Rangavi Estate, |
|
Date of Birth/Age : |
01.03.1955 |
|
Date of Appointment : |
19.01.2009 |
|
DIN No.: |
02554804 |
|
|
|
|
Name : |
Mr. Prem Kumar Kataria |
|
Designation : |
Director |
|
Address : |
8205 Sector B-IX, Vasant Kunj, New Delhi-11070, |
|
Date of Birth/Age : |
01.05.1960 |
|
Date of Appointment : |
12.07.2010 |
|
DIN No.: |
03175921 |
|
|
|
|
Name : |
Mr. Debashish Chatterjee |
|
Designation : |
Director |
|
Address : |
Directors Bungalow, IIMK Campus, Kunnamangalam, Kozhikode-673570,
Kerala, India |
|
Date of Birth/Age : |
05.09.1964 |
|
Date of Appointment : |
19.01.2011 |
|
DIN No.: |
02874723 |
|
|
|
|
Name : |
Mr. Prabhatkumar Suryakant Shrivastava |
|
Designation : |
Director |
|
Address : |
D-1/1 GSL Officers Residential Enclave, Airport Road, Chicalim-403711,
Goa, India |
|
Date of Birth/Age : |
11.05.1956 |
|
Date of Appointment : |
28.04.2011 |
|
DIN No.: |
03510161 |
|
|
|
|
Name : |
Dr. Venkata Rao Rambhatla |
|
Designation : |
Director |
|
Address : |
National Law School of India University Vice Chancellor’s Lodge
Nagarbhavi Bangalore 560242, Karnataka, India |
|
Date of Birth/Age : |
15.03.1954 |
|
Date of Appointment : |
20.09.2011 |
|
DIN No.: |
03386559 |
|
|
|
|
Name : |
Mr. Sanjiv Sharma |
|
Designation : |
Whole-Time Director |
|
Address : |
House No - 74, Sector – 10, Raj Nagar, Ghaziabad – 201002, Uttar Pradesh, India |
|
Date of Birth/Age : |
04.10.1959 |
|
Date of Appointment : |
01.08.2012 |
|
DIN No.: |
05328027 |
|
|
|
|
Name : |
Mr. Rakesh Kumar Agrawal |
|
Designation : |
Director |
|
Address : |
C-1/3D-2, Model Town, Delhi – 110009, India |
|
Date of Birth/Age : |
13.09.1952 |
|
Date of Appointment : |
26.10.2012 |
|
DIN No.: |
00127020 |
|
|
|
|
Name : |
Mr. Anurag Gopalan Thapliyal |
|
Designation : |
Director |
|
Address : |
5, Type VIII Tyagraj Marg, Near Sena Bhawan, New Delhi – 110011, India |
|
Date of Birth/Age : |
17.01.1955 |
|
Date of Appointment : |
06.08.2013 |
|
DIN No.: |
06675249 |
KEY EXECUTIVES
|
Name : |
Mr. Ramchandra Chimanshet Asukar |
|
Designation : |
Secretary |
|
Address : |
S-2n, Prime Monarch, Near Vidya Mandir School, Airport Road, Adarsh
Nagar, Chicalim-603711, Goa, India |
|
Date of Birth/Age : |
01.01.1957 |
|
Date of Appointment : |
17.06.1991 |
|
Pan No.: |
ACHPA5931H |
|
Date of Appointment : |
|
|
|
|
|
Name : |
Mr. P N S Chauhan |
|
Designation : |
General Manager in finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2013
SHAREHOLDING DETAILS FILE ATTACHED
As on 24.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
1.17 |
|
Other top fifty shareholders |
0.50 |
|
Others |
0.03 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Customers : |
|
||||||
|
|
|
||||||
|
Line of Business : |
Shipbuilders, Ship Repairs and Engineers. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Ganesh Daivajna and Company Chartered Accountants |
|
Address : |
Ganesh Chambers, 2nd Floor, Opposite Confidant Book Store, Abade
Faria Road, Margao Goa -403601, India |
|
PAN No.: |
AABFG0206H |
CAPITAL STRUCTURE
As on 24.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs.400.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29100937 |
Equity Shares |
Rs.10/- each |
Rs.291.009
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 |
291.000 |
291.000 |
291.000 |
|
(b) Reserves & Surplus |
6114.300 |
6027.300 |
5400.100 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
6405.300 |
6318.300 |
5691.100 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
172.800 |
112.900 |
117.500 |
|
(b) Deferred tax liabilities (Net) |
315.500 |
255.800 |
185.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
71.500 |
61.400 |
37.900 |
|
Total Non-current
Liabilities (3) |
559.800 |
430.100 |
340.400 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
572.300 |
673.000 |
1415.700 |
|
(c) Other
current liabilities |
8066.400 |
8028.200 |
5556.400 |
|
(d) Short-term
provisions |
189.700 |
290.500 |
505.200 |
|
Total Current
Liabilities (4) |
8828.400 |
8991.700 |
7477.300 |
|
|
|
|
|
|
TOTAL |
15793.500 |
15740.100 |
13508.800 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
3378.900 |
3374.100 |
3494.000 |
|
(ii)
Intangible Assets |
1.300 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
134.800 |
724.200 |
108.800 |
|
(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 |
773.500 |
502.700 |
495.500 |
|
(e) Other
Non-current assets |
18.800 |
23.600 |
16.500 |
|
Total Non-Current Assets |
4307.300 |
4624.600 |
4114.800 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
4359.400 |
3559.700 |
2999.300 |
|
(c) Trade receivables |
1481.100 |
1372.400 |
1484.500 |
|
(d) Cash
and cash equivalents |
4706.600 |
4921.200 |
3200.200 |
|
(e)
Short-term loans and advances |
939.100 |
1262.200 |
1710.000 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
11486.200 |
11115.500 |
9394.000 |
|
|
|
|
|
|
TOTAL |
15793.500 |
15740.100 |
13508.800 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8462.100 |
2748.800 |
5151.300 |
|
|
|
Other Income |
555.200 |
412.600 |
363.700 |
|
|
|
TOTAL (A) |
9017.300 |
3161.400 |
5515.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2979.400 |
3621.800 |
5431.700 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
3375.100 |
(4067.400) |
(4758.900) |
|
|
|
Employee benefit expense |
1205.400 |
1106.500 |
1064.400 |
|
|
|
Other expenses |
772.100 |
906.800 |
991.700 |
|
|
|
TOTAL (B) |
8332.000 |
1567.700 |
2728.900 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
685.300 |
1593.700 |
2786.100 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
242.400 |
170.600 |
53.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
442.900 |
1423.100 |
2733.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
181.700 |
162.800 |
85.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
261.200 |
1260.300 |
2647.900 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
106.200 |
432.700 |
886.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
155.000 |
827.600 |
1761.300 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.400 |
0.500 |
0.200 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
72.500 |
627.500 |
1347.000 |
|
|
|
Dividend |
58.200 |
171.700 |
355.000 |
|
|
|
Tax on Dividend |
9.900 |
28.500 |
59.000 |
|
|
|
CSR and Sustainability Reserve |
14.300 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
0.500 |
0.400 |
0.500 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
906.900 |
1943.800 |
|
|
|
Capital Goods |
NA |
17.700 |
211.500 |
|
|
TOTAL IMPORTS |
NA |
924.600 |
2155.300 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.00 |
29.00 |
61.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.72
|
26.18 |
31.94 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.09
|
45.84 |
51.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.67
|
8.39 |
19.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.20 |
0.47 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.03
|
0.02 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30
|
1.24 |
1.26 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT: NOT AVAILABLE
|
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 |
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 |
Yes |
|
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 |
No |
LITIGATIONS DETAILS
HIGH COURT OF BOMBAY AT GOA
|
Reg. No. :- WP / 728 / 2013 Stamp No. :- STM / 3284 / 2013 |
|||||
|
|
|
||||
|
Case Status : |
Pending (Pre-Admitted) |
||||
|
Petitioner : |
M/S MAHALAS SERVICE THROUGH ITS SOLE PROPRIETOR |
||||
|
Respondent : |
GOA SHIPYARD LIMITED A GOVT. OF INDIA |
||||
|
Petitoner
Adv. : |
ADV. SALVADOR SANTOSH REBELLO |
||||
|
Respondent
Adv. : |
ADV. GAURISH N. AGNI FOR R NO.2 |
||||
|
District : |
South Goa |
||||
|
Bench : |
Division |
||||
|
Act : |
Constitution of India |
||||
|
Category : |
OTHERS (W.P) |
||||
|
Hearing Date : |
23 June 2014 |
||||
|
|||||
|
This Case is updated on : 17 June 2014 |
|||||
COMPANY’S PERFORMANCE
During the financial year 2012-13, the Company achieved Value of Production of Rs. 5066.200 Millions and made Gross Profit of Rs. 685.300 Millions against Value of Production of Rs.6764.300 Millions and Gross Profit of Rs. 1593.700 Millions in the previous year. As brought out by me in my address last year, lean order book position continued, however, it improved in May, 2012 on conclusion of new shipbuilding contract. The assets created under modernisation programme have gradually started earning revenues. These factors mainly affected the profitability and overall performance of the Company as compared to previous year. The Company’s performance is expected to improve in the coming years.
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long-term
borrowings |
|
|
|
Deferred payment foreign sources |
172.800 |
112.900 |
|
Total |
172.800 |
112.900 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90076382 |
23/12/2010 * |
3,500,000,000.00 |
SBI CONSORTIUM BANKS VIZ SBI COM BR BANK OF MAHARA |
VASCO DA GAMA, VASCO DA GAMA, GOA - 403802, INDIA |
B03220555 |
* Date of charge modification
FIXED ASSETS
·
·
· Building and Other Civil Constructions
· Plant and Machinery
· Slipways
· Fittin Out Jetty
· Capital Dradging
· Furniture, Fittings and Office Equipments
·
Motor Cars and Vehicles
·
Steam Launches and Boats
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 records 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] 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.62.44 |
|
|
1 |
Rs.102.48 |
|
Euro |
1 |
Rs.85.28 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
57 |
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.