MIRA INFORM REPORT
|
Report Date : |
04.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
SOLAROY ENGINEERS PRIVATE LIMITED |
|
|
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|
Registered
Office : |
Leslico House, 2nd Floor, 87-C, A. Marg, Dadar (West), Mumbai
– 400 028, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
07.02.1986 |
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Com. Reg. No.: |
11-038880 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29307MH1986PTC038880 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS43506B |
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|
PAN No.: [Permanent Account No.] |
AADCS2364R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Importer of Solar Products and Equipments, Fire Fighting and Fire
Protection Equipments. |
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|
|
|
No. of Employees
: |
11 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 19000 |
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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. Profitability of
the company appears to be low. However, trade relations
are fair. Business is active. Payment terms are slow but correct. The company can
be considered for business dealing 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.
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 PARTED BY
|
Name : |
Mr. Pinank Parekh |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-24211510 |
|
Date : |
03.03.2014 |
LOCATIONS
|
Registered
Office/ Corporate Head Office : |
Leslico House, 2nd Floor, 87-C, A. Marg, Dadar (West), Mumbai
– 400 028, Maharashtra, India |
|
Tel. No.: |
91-22-24211510/ 24382480/
24360094/ 26424301 |
|
Fax No.: |
91-22-24360094 |
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E-Mail : |
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|
Website : |
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|
Area : |
1200 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Branch Office
1 : |
Office
No.701, 95, Vishal Bhawan, Nehru Place, New Delhi – 110 019, India |
|
Tel. No.: |
91-11-41808301-03 |
|
Fax No.: |
91-11-26211685 |
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|
|
|
Branch Office
2 : |
12-F,
Everest House, 46-C, Jawaharlal Nehru Road, Kolkata – 700 071, West Bengal,
India |
|
Tel. No.: |
91-33-22883107/ 22882467 |
|
Fax No.: |
91-33-22889644 |
|
|
|
|
Branch Office
3 : |
G-4,
Ground Floor, Amar Sindhur, No.43, Pantheon Road, Egmore, Chennai – 600 008,
Tamilnadu, India |
|
Tel. No.: |
91-44-42146053/ 42028455 |
|
Fax No.: |
91-44-28591569 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Aroop Nripendra Roy |
|
Designation : |
Director |
|
Address : |
301, West Wind Apartments, H.F. Bhabha Road, Bandra (West), Mumbai –
400 050, Maharashtra, India |
|
Date of Birth/Age : |
12.12.1944 |
|
Qualification : |
B.A. Hons. |
|
Date of Appointment : |
07.02.1986 |
|
DIN No.: |
00393482 |
|
|
|
|
Name : |
Mrs. Carole Leslie Roy |
|
Designation : |
Director |
|
Address : |
301, West Wind Apartments, H.F. Bhabha Road, Bandra (West), Mumbai –
400 050, Maharashtra, India |
|
Date of Birth/Age : |
31.05.1944 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
07.02.1986 |
|
DIN No.: |
00391547 |
KEY EXECUTIVES
|
Name : |
Mr. Pinank Parekh |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Aroop Nripendra Roy |
5000 |
50.00 |
|
Carole Leslie Roy |
5000 |
50.00 |
|
Total
|
10000 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer of Solar Products and Equipments, Fire Fighting and Fire
Protection Equipments. |
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Products : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
11 (Approximately) |
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Bankers : |
Vijaya Bank,
Mahim Branch, L.J. Road, Mahim (West), Mumbai – 400 016, Maharashtra, India
(Tel. No.: 91-22-24457621) |
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Facilities : |
Notes: LONG TERM BORROWINGS Nature of Security: Car Loan is
secured against Vehicle Purchased. Terms of repayment: Car loan of Rs.0.836 million is taken and repayable in 59 monthly installments of Rs.0.018 million and installment is outstanding as on 31.03.2013. |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Damani and Shah Chartered Accountants |
|
Address : |
522, 5th Floor, Milan Industrial Estate, Abhyudaya Nagar
Cotton Green (West), Mumbai – 400 033, Maharashtra, India |
|
Telefax No.: |
91-22-24712245/ 46 |
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E-Mail : |
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Website : |
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PAN No.: |
AAHFD0119J |
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Associates/ Entities over which key management personnel are able to
exercise control : |
|
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each
|
Rs.0.100 million |
|
|
|
|
|
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 |
0.100 |
0.100 |
0.100 |
|
(b) Reserves & Surplus |
4.629 |
4.105 |
3.519 |
|
(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) |
4.729 |
4.205 |
3.619 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
6.297 |
4.621 |
3.834 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.029 |
|
(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) |
6.297 |
4.621 |
3.863 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
9.368 |
13.965 |
7.010 |
|
(b)
Trade payables |
11.684 |
10.565 |
8.122 |
|
(c)
Other current liabilities |
4.259 |
2.047 |
3.270 |
|
(d)
Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
25.311 |
26.577 |
18.402 |
|
|
|
|
|
|
TOTAL |
36.337 |
35.403 |
25.884 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
0.805 |
1.007 |
1.348 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.015 |
0.015 |
0.015 |
|
(c) Deferred tax assets
(net) |
0.026 |
0.014 |
0.000 |
|
(d) Long-term Loan
and Advances |
3.341 |
3.484 |
0.823 |
|
(e)
Other Non-current assets |
3.728 |
1.708 |
0.973 |
|
Total
Non-Current Assets |
7.915 |
6.228 |
3.159 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
11.161 |
7.620 |
10.866 |
|
(c)
Trade receivables |
14.209 |
15.290 |
9.053 |
|
(d)
Cash and cash equivalents |
2.646 |
4.643 |
2.563 |
|
(e)
Short-term loans and advances |
0.406 |
1.622 |
0.243 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
28.422 |
29.175 |
22.725 |
|
|
|
|
|
|
TOTAL |
36.337 |
35.403 |
25.884 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
60.000 (Approximately) |
61.808 |
18.805 |
|
|
|
Other Income |
NA |
0.417 |
0.356 |
|
|
|
TOTAL (A) |
NA |
62.225 |
19.161 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
NA |
43.824 |
13.842 |
|
|
|
Changes in Inventories |
NA |
3.246 |
-5.630 |
|
|
|
Employee benefits expenses |
NA |
4.805 |
4.909 |
|
|
|
Other Expenses |
NA |
7.959 |
4.261 |
|
|
|
TOTAL (B) |
NA |
59.834 |
17.382 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
2.391 |
1.779 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
1.157 |
1.270 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
1.234 |
0.509 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
0.354 |
0.255 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
NA |
0.880 |
0.254 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
0.293 |
0.079 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
0.524 |
0.587 |
0.175 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
2.193 |
1.573 |
2.307 |
|
|
|
|
|
|
|
|
|
|
C.I.F. VALUE OF
IMPORTS |
21.701 |
33.758 |
8.917 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
52.38 |
58.68 |
17.49 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA
|
0.94 |
0.91 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
1.42 |
1.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
2.48 |
0.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.21 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.31
|
4.42 |
3.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12
|
1.10 |
1.23 |
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 |
0.100 |
0.100 |
0.100 |
|
Reserves & Surplus |
3.519 |
4.105 |
4.629 |
|
Net
worth |
3.619 |
4.205 |
4.729 |
|
|
|
|
|
|
Long-term borrowings |
3.834 |
4.621 |
6.297 |
|
Short term borrowings |
7.010 |
13.965 |
9.368 |
|
Total
borrowings |
10.844 |
18.586 |
15.665 |
|
Debt/Equity
ratio |
2.996 |
4.420 |
3.313 |
LOCAL AGENCY FURTHER INFORMATION
Details of Current maturities of long term debts:
|
Particulars |
31.03.2013 (Rs. in millions) |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
|
Current maturities of
long term debts |
0.176 |
0.158 |
0.143 |
|
Check
List by Info Agents |
Available
in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last 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 |
Yes |
|
20) Export / Import details (if
applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter involved
in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
|
31)
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32)
PAN of Proprietor/Partner/Director, if available |
No |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
No |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
80004825 |
15/06/2013 * |
66,000,000.00 |
VIJAYA BANK |
MAHIM BRANCH,
L.J. ROAD, MAHIM (WEST), MUMBAI, MAHARASHTRA - 400016, INDIA |
B80121452 |
|
2 |
90229870 |
08/05/2003 |
17,000.00 |
THE SARASWAT CO-OPERATIVE
BANK LIMITED |
PRABHADEVI
BRANCH, MUMBAI, MAHARASHTRA - 400025, INDIA |
- |
|
3 |
90231154 |
20/03/2003 |
900,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
PRABHADEVI
BRANCH, MUMBAI, MAHARASHTRA - 400025, INDIA |
- |
|
4 |
90229825 |
20/12/2002 |
750,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
PRABHADEVI
BRANCH, MUMBAI, MAHARASHTRA - 400025, INDIA |
- |
|
5 |
90229625 |
21/11/2000 |
299,600.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
PRABHADEVI BRANCH,
MUMBAI, MAHARASHTRA - 400025, INDIA |
- |
|
6 |
90229308 |
27/01/1998 |
750,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
CENTRAL ADMIN.
OFFICE; APSARA CINEMA BUILDING, DR. D.B. MARG; GRANT ROAD, MUMBAI,
MAHARASHTRA - 400007, INDIA |
- |
|
7 |
90229246 |
07/08/1997 |
544,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
CENTRAL ADMIN.
OFFICE; APSARA CINEMA BUILDING, DR. D.B. MARG; GRANT ROAD, MUMBAI,
MAHARASHTRA - 400007, INDIA |
- |
|
8 |
90228610 |
28/12/1992 |
160,000.00 |
THE SARASWAT CO-OPERATIVE
BANK LIMITED |
CENTRAL ADMIN.
OFFICE; APSARA CINEMA BUILDING, DR. D.B. MARG; GRANT ROAD, MUMBAI,
MAHARASHTRA - 400007, INDIA |
- |
|
9 |
90228602 |
21/11/1992 |
140,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
CENTRAL ADMIN. OFFICE;
APSARA CINEMA BUILDING, DR. D.B. MARG; GRANT ROAD, MUMBAI, MAHARASHTRA -
400007, INDIA |
- |
|
10 |
90228526 |
26/03/1992 |
165,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
CENTRAL ADMIN. OFFICE;
APSARA CINEMA BUILDING, DR. D.B. MARG; GRANT ROAD, MUMBAI, MAHARASHTRA -
400007, INDIA |
- |
|
11 |
90228478 |
05/12/1991 |
165,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
CENTRAL ADMIN. OFFICE;
APSARA CINEMA BUILDING, DR. D.B. MARG; GRANT ROAD, MUMBAI, MAHARASHTRA -
400007, INDIA |
- |
|
12 |
90228457 |
03/10/1991 |
175,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
CENTRAL ADMIN. OFFICE;
APSARA CINEMA BUILDING, DR. D.B. MARG; GRANT ROAD, MUMBAI, MAHARASHTRA -
400007, INDIA |
- |
|
13 |
90228285 |
01/06/1990 * |
165,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
CENTRAL ADMIN. OFFICE;
APSARA CINEMA BUILDING, DR. D.B. MARG; GRANT ROAD, MUMBAI, MAHARASHTRA -
400007, INDIA |
- |
|
14 |
90228272 |
06/03/1990 |
175,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
CENTRAL ADMIN. OFFICE;
APSARA CINEMA BUILDING, DR. D.B. MARG; GRANT ROAD, MUMBAI, MAHARASHTRA -
400007, INDIA |
- |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
From Others |
|
|
|
From Directors |
3.562 |
3.680 |
|
From Related
Party |
2.434 |
0.464 |
|
Total |
5.996 |
4.144 |
CONTINGENT LIABILITIES (AS ON 31.03.2013):
·
Estimated amount of Contracts
remaining to be executed on Capital Account is Rs. Nil
·
Guarantee issued by the
Banks at the request of the Company in favour of third parties is Rs.10.936
millions
·
Letter of Credit issued
by the Banks at the request of the Company in favour of third parties is Rs.
Nil.
FIXED ASSETS:
·
Furniture and Fixtures
·
Office Equipments
·
Vehicles
·
Computer
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.61.86 |
|
|
1 |
Rs.103.52 |
|
Euro |
1 |
Rs.85.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.