MIRA INFORM REPORT
|
Report Date : |
05.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
SVENSKA TECHNOLOGIES PRIVATE LIMITED |
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Registered Office : |
Unit No. 313/314, Ganatra Industrial Estate, Cadbury Junction, Eastern
Express Highway, Kopat, Thane (West), Thane – 400 601 Maharashtra |
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Country : |
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Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
23.03.2000 |
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Com. Reg. No.: |
11-125183 |
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Capital Investment
/ Paid-up Capital : |
Rs.20.000 Millions |
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CIN No.: [Company
Identification No.] |
U29246MH2000PTC125183 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNES1678D / MUMS36487D |
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PAN No.: [Permanent
Account No.] |
AAFCS2234L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
The company is engaged in sales, marketing, labour charges and after
sales support of construction equipment. |
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No. of Employees : |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 330000 |
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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. There seems sharp dip in the turnover of the company during financial
year 2013 the company has also incurred a loss. However, trade relations are reported to be fair. Business is active.
Payment 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.
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 |
CRISIL |
|
Rating |
Cash Credit=BB+ |
|
Rating Explanation |
Moderate degree of safety. |
|
Date |
February 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Bank Guarantee=A4+ |
|
Rating Explanation |
Minimal degree of safety. It carry very high
credit risk. |
|
Date |
February 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
Management Non Co-operative (91-22-25471108)
LOCATIONS
|
Registered Office : |
Unit No. 313/314, Ganatra Industrial Estate, Cadbury Junction, Eastern
Express Highway, Kopat, Thane (West), Thane - 400601 Maharashtra, India |
|
Tel. No.: |
91-22-25471108/25470940/41853535 |
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Fax No.: |
91-22-25474106/41853536 |
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E-Mail : |
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Website : |
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Area : |
2500 sq. ft. |
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Location : |
Owned |
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Branches : |
·
Aurangabad ·
Goa ·
Kolhapur ·
Nagpur ·
Nasik ·
Panvel ·
Pune |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Mangesh Manohar Vaidya |
|
Designation : |
Managing Director |
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Address : |
1005, B Wing, |
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Date of Birth/Age : |
11.07.1958 |
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Qualification : |
B.E, MBA |
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Date of Appointment : |
23.03.2000 |
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DIN No.: |
01639893 |
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Name : |
Mrs. Meeta Mangesh Vaidya |
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Designation : |
Director |
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Address : |
1006, B Wing, |
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Date of Birth/Age : |
23.12.1961 |
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Qualification : |
B.E, MBA |
|
Date of Appointment : |
23.03.2000 |
|
DIN No.: |
01639848 |
MAJOR SHAREHOLDERS
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Meeta Mangesh Vaidya |
116667 |
66.67 |
|
Mangesh Manohar Vaidya |
58333 |
33.33 |
|
Total |
175000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in sales, marketing, labour charges and after
sales support of construction equipment. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
·
HDFC Bank Limited, HDFC Bank House, Senapati
Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India ·
The Chembur Nagarik Sahakari Bank Limited, 101-103,
Rudresh Commercial Complex, Opposite Dr. Ambedkar Garden, Chembur, Mumbai –
400 071, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
P. M. Dalvi and Company Chartered Accountants |
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Address : |
126, Bharat Co-operative Industrial Premises, L.B.S. Road, Bhandup
(West), Mumbai – 400 078, Maharashtra, India |
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PAN No.: |
AAKFP2783P |
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Group Companies
: |
·
Ba Wen Infra Equip Private Limited ·
Svanska Infrastructure Equipment Private Limited ·
Svanska Institute of Technology ·
Svanska Intelly Serve Private Limited |
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Subsidiary
Companies : |
·
Svanska Infra Services Private Limited ·
Minestruck Infrastructure Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital : Rs.20.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.20.000
Millions
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
175000 |
Equity Shares |
Rs.100/- each |
Rs.17.500 Millions |
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|
Reconciliation of the number of shares and amount outstanding at the
beginning and at the end of the reporting period
|
Particulars |
31.03.2013 |
|
|
Equity Shares with Voting Rights |
No. of Shares |
Rs. In Millions |
|
Opening balance |
175000 |
17.500 |
|
Fresh Issue |
25000 |
2.500 |
|
Closing balance |
200000 |
20.000 |
Details of Shares held by each shareholder holding more than 5% shares
|
Particulars |
31.03.2013 |
|
|
Equity Shares with Voting Rights |
No. of Shares |
% of holding |
|
Mrs. Meeta M. Vaidya |
116667 |
58.33 |
|
Mr. mangesh M. Vaidya |
58.333 |
29.17 |
|
Mr. Pramod S. Patwardhan |
25000 |
12.50 |
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 |
20.000 |
17.500 |
10.000 |
|
(b) Reserves & Surplus |
64.877 |
101.181 |
83.008 |
|
(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) |
84.877 |
118.681 |
93.008 |
|
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
37.905 |
17.728 |
35.723 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
2.470 |
2.470 |
1.717 |
|
Total Non-current
Liabilities (3) |
40.375 |
20.198 |
37.440 |
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
78.567 |
113.514 |
179.674 |
|
(b) Trade
payables |
153.098 |
152.353 |
111.766 |
|
(c) Other
current liabilities |
37.050 |
62.782 |
54.980 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
268.715 |
328.649 |
346.420 |
|
|
|
|
|
|
TOTAL |
393.967 |
467.528 |
476.868 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
95.880 |
119.910 |
139.427 |
|
(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 |
2.269 |
2.269 |
2.269 |
|
(c) Deferred tax assets (net) |
5.256 |
6.091 |
5.844 |
|
(d) Long-term Loan and Advances |
37.161 |
29.094 |
17.276 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
140.566 |
157.364 |
164.816 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
112.175 |
128.404 |
110.877 |
|
(c) Trade
receivables |
119.189 |
143.539 |
167.629 |
|
(d) Cash
and cash equivalents |
8.686 |
21.801 |
14.385 |
|
(e)
Short-term loans and advances |
13.351 |
16.420 |
18.239 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.922 |
|
Total
Current Assets |
253.401 |
310.164 |
312.052 |
|
|
|
|
|
|
TOTAL |
393.967 |
467.528 |
476.868 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
636.697 |
831.090 |
864.611 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
629.540 |
745.987 |
783.902 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
7.157 |
85.103 |
80.709 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
20.712 |
27.261 |
29.621 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
(13.555) |
57.842 |
51.088 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
21.622 |
30.441 |
35.933 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE
TAX (E-F) (G) |
(35.177) |
27.401 |
15.155 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.834 |
10.851 |
5.309 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
(36.011) |
16.550 |
9.846 |
|
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
93.663 |
77.145 |
68.283 |
|
|
|
|
|
|
|
|
|
Less |
RESERVE |
0.000 |
1.655 |
0.984 |
|
|
|
|
|
|
|
|
|
Add |
REVERSAL OF
EXCESS PROVISION MADE FOR STOCK OBSOLENCE |
0.000 |
1.623 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
SHORT PROVISION
OF TAX (A.Y. 2007-08) |
0.292 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
57.360 |
93.663 |
77.145 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
18.00 |
16.60 |
98.46 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(5.66) |
1.99 |
1.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(9.10) |
5.97 |
3.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.41) |
0.23 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.37 |
1.11 |
2.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.94 |
0.94 |
0.90 |
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 |
10.000 |
17.500 |
20.000 |
|
Reserves & Surplus |
83.008 |
101.181 |
64.877 |
|
Net
worth |
93.008 |
118.681 |
84.877 |
|
|
|
|
|
|
long-term borrowings |
35.723 |
17.728 |
37.905 |
|
Short term borrowings |
179.674 |
113.514 |
78.567 |
|
Total
borrowings |
215.397 |
131.242 |
116.472 |
|
Debt/Equity
ratio |
2.316 |
1.106 |
1.372 |
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 |
|
Total Income |
864.611 |
831.090 |
636.697 |
|
|
|
(3.877) |
(23.390) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total Income |
864.611 |
831.090 |
636.697 |
|
Profit |
9.846 |
16.550 |
(36.011) |
|
|
1.14% |
1.99% |
(5.66%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM DEBT:
(Rs.
In Millions)
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Term Loans |
|
|
|
|
From Banks |
|
|
|
|
Secured |
12.662 |
12.447 |
15.326 |
|
Unsecured |
0.000 |
0.000 |
0.160 |
|
From Related Parties |
|
|
|
|
Secured |
4.270 |
9.194 |
12.437 |
|
|
|
|
|
|
|
16.932 |
21.641 |
27.923 |
|
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
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 |
BUSINESS:
Total revenue decreased to Rs.636.697 Millions from Rs.831.091 Millions
in the previous year. The net loss incurred was Rs.36.012 Millions as against
Rs.16.550 Millions in the previous year.
GENERAL INFORMATION:
The company is an authorized dealer of VOLVO CONSTRUCTION EQUIPMENT
division of VOLVO INDIA PRIVATE LIMITED for Maharashtra and Goa. The company is
engaged in sales, marketing, labour charges and after sales support of construction
equipment.
NOTE: Registered office
address of the company has been shifted from 318, Orion Business Park,
Ghodbunder Road, Near Cine Wonder Mall, Thane (West), Thane – 400 607,
Maharashtra, India to the present address w.e.f.17.05.2013
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Reliance Capital
Limited |
7.555 |
0.000 |
|
HSBC Limited |
0.000 |
30.292 |
|
|
|
|
|
Total |
7.555 |
30.292 |
CONTINGENT
LIABILITY:
(Rs.
In Millions)
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
|
Bank Guarantees issued in favour of: |
|
|
|
V E Commercial Vehicles Limited |
2.500 |
1.000 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10398239 |
29/12/2012 |
137,600,000.00 |
HDFC
BANK LIMITED |
HDFC
BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013,
INDIA |
B66266842 |
|
2 |
10380733 |
21/08/2012 |
5,000,000.00 |
BAJAJ
FINANCE LIMITED |
AKURDI
PUNE-, MUMBAI, MAHARASHTRA - 411035, INDIA |
B59757419 |
|
3 |
10257946 |
16/11/2010 |
80,000,000.00 |
HONGKONG
AND SHANGHAI BANKING CORPORATION LIMITED |
52/60
M G ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B00775296 |
|
4 |
10229685 |
24/05/2010 |
4,080,000.00 |
HDFC
BANK LIMITED |
HDFC
BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013,
INDIA |
A89491559 |
|
5 |
10225738 |
24/05/2010 |
7,250,000.00 |
HDFC
BANK LIMITED |
HDFC
BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013,
INDIA |
A88222328 |
|
6 |
10186309 |
26/09/2009 |
5,745,000.00 |
RELIANCE
CAPITAL LTD |
"H"
BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE C |
A73378788 |
|
7 |
10014327 |
09/08/2006 |
446,700.00 |
STATE
BANK OF INDIA |
THANE
MAIN BRANCH, THANE, MAHARASHTRA - 400601, INDIA |
A03505732 |
|
8 |
10013933 |
25/07/2006 |
435,000.00 |
STATE
BANK INDIA |
THANE
MAIN BRANCH, THANE, MAHARASHTRA - 400601, INDIA |
A03319290 |
|
9 |
80031066 |
29/09/2010
* |
161,200,000.00 |
STATE
BANK OF INDIA |
AGIYARI
CROSS LANE,, TAMBI NAKA, THANE (W), THANE, MAHARASHTRA - 400601, INDIA |
A98866353 |
|
10 |
90148962 |
29/09/2010
* |
161,200,000.00 |
STATE
BANK OF INDIA |
AGIYARI
CROSS LANE,, TAMBI NAKA, THANE (W), THANE, MAHARASHTRA - 400601, INDIA |
A98865041 |
* Date of charge modification
FIXED ASSETS:
·
Air Conditioner
·
Camera
·
Computer
·
Cooler
·
Copper Machine
·
Electrical Instrument
·
Fan
·
Fax Machine
·
Furniture
·
Jeep
·
Land
·
Office Premises
·
Shed
·
Storage Unit
·
Telephone Instruments
·
Television
·
Vehicles
Office Equipments
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 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.61.86 |
|
|
1 |
Rs.103.52 |
|
Euro |
1 |
Rs.85.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
34 |
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.