MIRA
INFORM REPORT
|
Report Date : |
03.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
SERVOTECH INDIA LIMITED |
|
|
|
|
Formerly Known
As : |
SERVOTECH ENGINEERS ( |
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|
|
Registered
Office : |
501, Triveni Krupa, Carter Road No. 3, Opposite Ambaji Mata Temple,
Borivali (East), Mumbai – 400066, Maharashtra |
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|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2013 |
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|
|
Date of
Incorporation : |
09.07.1986 |
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Com. Reg. No.: |
11-040345 |
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|
Capital
Investment / Paid-up Capital : |
Rs.30.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29100MH1986PLC040345 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Supply of Turnkey Projects of Solvent Extraction
plants, Castor Oil Plants, Edible Oil plants, Oil Refinery Plants, Vanaspati
Plants, and Dairy and Food Processing Plants, Chemical / Petrochemical,
Pharmaceutical Plants etc. |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 196000 |
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|
|
|
Status : |
Moderate |
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|
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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. Reserves of the company’s are low, borrowings of the company has also
increased. However, trade relations are reported to be 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry
retained its status as the favourable venture capital investors in 2013.
Pakistan has temporarily banned gold imports for the second time in six months,
as it tries to stem smuggling into India. India’s import duty on gold is 10 %
and curbs on purchases have dried up legal imports into what used to be the
world’s biggest bullion buyers. The World Gold Council puts the amount smuggled
into India at upto 200 tonnes in 2013. The Reserve Bank of India has proposed
that unclaimed bank deposits estimated to be about Rs 35000 mn be used for
education and awareness among depositors. According to the plan, deposits
that have not been claimed for at least 10 years will be transferred to the scheme.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term based BB |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
January 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term non fund based limits A4 |
|
Rating Explanation |
Minimal degree of safety. If carry very high
credit risk. |
|
Date |
January 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 : |
Mr. Murli Lahoti |
|
Designation : |
Director |
|
Contact No.: |
91-22-28624357 |
|
Date : |
28.02.2014 |
LOCATIONS
|
Registered Office : |
501, Triveni Krupa, Carter Road No. 3, Opposite Ambaji Mata Temple,
Borivali (East), Mumbai – 400066, Maharashtra, India |
|
Tel. No. : |
91-2228624357 / 58 / 28083295 |
|
Fax No. : |
91-22-28083296 |
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E-Mail : |
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Website : |
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Head Office : |
203, Charted House or C.H. Street, Near Marine Lines Church, Mumbai –
400002, Maharashtra, India |
|
Tel. No. : |
91-22-22086368 |
|
Fax No. : |
91-22-22067131 |
|
|
|
|
Factory : |
Plot No. N – 63, MIDC, Tarapur, Boisar, District – Thane – 401501,
Maharashtra, India |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Nileshkumar Radheshyam Lahoti |
|
Designation : |
Director |
|
Address : |
18 D, 303, Prem Apartment, Saibaba Nagar, Borivali (West), Mumbai –
400092, Maharashtra, India |
|
Date of Birth/Age : |
19.01.1982 |
|
Date of Appointment : |
02.07.2001 |
|
DIN No. : |
00755193 |
|
|
|
|
Name : |
Mr. Rohit Talakchand Doshi |
|
Designation : |
Director |
|
Address : |
301-301 A, Giriraj Apartment, Factory Lane, 3rd Floor,
Opposite M.K. High School, Borivali (West), Mumbai – 400092, Maharashtra,
India |
|
Date of Birth/Age : |
05.12.1962 |
|
Date of Appointment : |
08.10.2007 |
|
DIN No. : |
01029100 |
|
|
|
|
Name : |
Mr. Murli Manohar Radheshyam Lahoti |
|
Designation : |
Director |
|
Address : |
18 D, 303, Prem Apartment, Saibaba Nagar, Borivali (West), Mumbai –
400092, Maharashtra, India |
|
Date of Birth/Age : |
05.10.1980s |
|
Date of Appointment : |
02.07.2001 |
|
DIN No. : |
02570480 |
|
|
|
|
Name : |
Mr. Bhagwandass Mundhra |
|
Designation : |
Director |
|
Address : |
9/702, Old MHB Colony, Gorai Road, Borivali (West), Mumbai – 400092,
Maharashtra, India |
|
Date of Birth/Age : |
25.12.1951 |
|
Date of Appointment : |
07.05.2013 |
|
DIN No. : |
06570774 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Name
of Shareholders |
No.
of Shares |
%age |
|
|
571200 |
19.04 |
|
Nileshkumar Radheshyam Lahoti |
133800 |
4.46 |
|
Radhe Shyam Lahoti |
500000 |
16.67 |
|
Indieadevi Lahoti |
155000 |
5.17 |
|
Madhu Lahoti |
20000 |
0.67 |
|
Lahoti Exports Private limited |
620000 |
20.67 |
|
Quality Products and Marketing Private Limited |
500000 |
16.67 |
|
Amitex Engineering Services Private limited |
500000 |
16.67 |
|
Total |
3,000,000 |
100.00 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
54.00 |
|
Directors or relatives of Directors |
46.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supply of Turnkey Projects of Solvent Extraction plants,
Castor Oil Plants, Edible Oil plants, Oil Refinery Plants, Vanaspati Plants,
and Dairy and Food Processing Plants, Chemical / Petrochemical,
Pharmaceutical Plants etc. |
||||||||||||
|
|
|
||||||||||||
|
Products : |
·
Solvent Extraction plant ·
Vegetable Oil Refining Plant ·
Vanaspati/ Hydrogenation plant ·
Spice Extraction plant ·
Dry Fractionation plant ·
Tea Extraction Plant ·
Oil Mill/ Expeller ·
Cotton Seed Processing Complex ·
Castor Oil Derivatives Complex ·
Lecithin Plant ·
Acid Oil Plant ·
Feed Milling Plant ·
Bio-Diesel Plant ·
Oleo Chemicals Plant ·
Cattle Feed Plan etc. |
GENERAL INFORMATION
|
Customers : |
Solvent Extraction Plant v Andhra Oil and
Cake Products Limited v B.K. Industries v Coromandel Agro
Products and Oils Limited v Gongadi Ramappa
Oil Mill v Kothari Oil
Products Company v Vinay Solvent
Extraction Ind. Private Limited Vegetable Oil Refining Plants v Coromandel Agro
Products and Oils Limited v Modern Proteins
Limited v Kothari Oil
Products Unit v Vidyashree
Industries v Liberty Oil
Mills Limited v The Tamil Nadu
Co-Op. Mktg. Fedn Limited v Kumar Metal
Industries Hydrogen Gas Generation Plants v Hathwa Vanaspati
Limited v Deepak Vegetable
Oil Industries v Hyderabad
Vanaspati Limited v Temiang jaya
Bhd. Oil Mills v Coramandal Agro Products
and Oil Limited v Sri Krishna Oil
Complex v Kerla State
Coconut Development Corporation Limited v Shree Saraswati
Co.Op Oil Ind. Limited |
||||||||||||||||||||||||
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No. of Employees : |
Not Divulged |
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Bankers : |
Ř State Bank of Bikaner and Jaipur, 232-234, Samual Street, Mandavi, Mumbai – 400003, Maharashtra, India Ř Punjab Natioanl
Bank, MID Corporate Branch, Brady House, V.N. Road, Fort, Mumbai-400023,
Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Amit and Disha Associates Chartered Accountants |
|
Address : |
14, Chitalia House, 1st Floor, Dr. C.H. Street, Marine Lines, Mumbai – 400002, Maharashtra, India |
|
PAN
No. : |
AAFFA5193F |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 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 |
30.000 |
30.000 |
10.000 |
|
(b) Reserves & Surplus |
19.137 |
12.440 |
7.300 |
|
(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) |
49.137 |
42.440 |
17.300 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
64.752 |
53.945 |
1.450 |
|
(b) Deferred tax liabilities
(Net) |
1.148 |
0.199 |
0.238 |
|
(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) |
65.900 |
54.144 |
1.688 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
50.577 |
29.142 |
17.305 |
|
(b) Trade payables |
56.075 |
48.357 |
44.569 |
|
(c) Other current liabilities |
21.335 |
34.472 |
45.608 |
|
(d) Short-term provisions |
0.281 |
1.047 |
1.350 |
|
Total Current Liabilities (4) |
128.268 |
113.018 |
108.832 |
|
|
|
|
|
|
TOTAL |
243.305 |
209.602 |
127.820 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
78.523 |
29.781 |
29.264 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
1.115 |
29.062 |
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 |
0.569 |
22.961 |
0.558 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
80.207 |
81.804 |
29.822 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.013 |
0.013 |
0.000 |
|
(b) Inventories |
39.496 |
9.216 |
8.033 |
|
(c) Trade receivables |
92.661 |
85.054 |
54.074 |
|
(d) Cash and cash equivalents |
8.811 |
14.754 |
16.342 |
|
(e) Short-term loans and
advances |
12.739 |
12.812 |
14.382 |
|
(f) Other current assets |
9.378 |
5.949 |
5.167 |
|
Total Current Assets |
163.098 |
127.798 |
97.998 |
|
|
|
|
|
|
TOTAL |
243.305 |
209.602 |
127.820 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
589.181 |
504.498 |
457.566 |
|
|
Other Income |
2.414 |
2.784 |
1.673 |
|
|
TOTAL (A) |
591.595 |
507.282 |
459.239 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
537.434 |
444.185 |
405.490 |
|
|
Changes in inventories of finished goods, work-in-progress and
Stock-in-Trade |
(12.577) |
0.000 |
0.000 |
|
|
Manufacturing Expenses |
18.937 |
22.755 |
23.806 |
|
|
Employees benefits expense |
16.212 |
13.009 |
9.099 |
|
|
Other expenses |
14.026 |
12.438 |
11.612 |
|
|
TOTAL (B) |
574.032 |
492.387 |
450.007 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
17.563 |
14.895 |
9.232 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.319 |
5.912 |
3.705 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
12.244 |
8.983 |
5.527 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.407 |
1.414 |
0.850 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
9.837 |
7.569 |
4.677 |
|
|
|
|
|
|
|
Less |
TAX (I) |
3.140 |
2.430 |
1.411 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
6.697 |
5.139 |
3.266 |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
USD – 363033.25 |
USD – 2253630.22 |
USD – 792968.40 |
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
2.23 |
1.71 |
1.09 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.13
|
1.01 |
0.71 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.67
|
1.50 |
1.02 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.06
|
4.19 |
3.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.18 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.92
|
1.96 |
6.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.27
|
1.13 |
0.90 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
10.000 |
30.000 |
30.000 |
|
Reserves & Surplus |
7.300 |
12.440 |
19.137 |
|
Net
worth |
17.300 |
42.440 |
49.137 |
|
|
|
|
|
|
long-term borrowings |
1.450 |
53.945 |
64.752 |
|
Short term borrowings |
17.305 |
29.142 |
50.577 |
|
Total
borrowings |
18.755 |
83.087 |
115.329 |
|
Debt/Equity
ratio |
1.084 |
1.958 |
2.347 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
457.566 |
504.498 |
589.181 |
|
|
|
10.257 |
16.786 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
457.566 |
504.498 |
589.181 |
|
Profit |
3.266 |
5.139 |
6.697 |
|
|
0.71% |
1.02% |
1.14% |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
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 address of the company has been
shifted from 3 Amitex House, Novelty Silk Mills Compound, Dahisar (East),
Mumbai-400068, Maharashtra, India to the present address (w.e.f 30.05.2012)
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Others (From Friends and relatives) |
44.589 |
29.217 |
|
|
|
|
|
Total |
44.589 |
29.217 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10315336 |
09/01/2013 * |
135,000,000.00 |
STATE BANK OF BIKANER & JAIPUR |
232 - 234, SAMUAL STREET, MANDAVI, MUMBAI- 400003s, Maharashtra, INDIA
|
B68198910 |
* Date of charge modification
PERFORMANCE REVIEW
The Performance of
the company during the year was satisfactory and the base business grew
strongly.
The Turnover of the
company increase by Rs.600.200 millions as compared to Rs.504.500 millions in
the previous year.
The company earn
the Profit before the Tax and Depreciation to the tune of Rs. 9.837 millions as
compared to Rs.7.569 millions during the previous year.
CORPORATE INFORMATION
The company
domiciled in India and incorporated under the provision of the company Act,
1956. The company’s principal business is Manufacturer and Supply of Turnkey
Projects of Solvent Extraction plants, Castor Oil Plants, Edible Oil plants,
Oil Refinery Plants, Vanaspati Plants, and Dairy and Food Processing Plants,
Chemical / Petrochemical, Pharmaceutical Plants etc. Distilleries and it’s all
type of equipment's, Accessories, Spare parts and Components.
FIXED ASSETS
œ Freehold Land
œ Factory Building
œ Plant and Machinery
œ Electrical Installation
œ Office Equipments
œ Computer
œ Furniture and Fixtures
œ Telephone Systems
œ Motor Car
œ Motor Cycles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.07 |
|
|
1 |
Rs.103.61 |
|
Euro |
1 |
Rs.85.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
3 |
|
--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.