MIRA
INFORM REPORT
|
Report Date : |
20.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
MAHALAXMI TMT PRIVATE LIMITED (w.e.f. 13.01.2009) |
|
|
|
|
Formerly Known
As : |
MAHALAXMI INGOTS PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
B – 306, Dynasty Business Park, JB Nagar, Andheri Kurla Road, Andheri
(East), Mumbai – 400 059, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
10.08.2004 |
|
|
|
|
Com. Reg. No.: |
11-147918 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.80.100 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100MH2004PTC147918 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKM05379D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECM8393D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of Thermo Mechanical Treated / MS Rods /
Round, etc. |
|
|
|
|
No. of
Employees: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 5800000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The financials for the year 2012 and 2013 could not be made available
from government department. As per indirect source i.e., CRISIL, there are loss recorded by the
company during 2013. However, the rating takes into consideration volatility in raw
material prices, Fluctuations in foreign exchange rate along with its
presence in the highly competitive and inherently cyclical steel industry. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing with some cautions. |
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
State-run banks hired nearly 300000
personnel including more than 94000 officers in the last four years, according
to the Indian Banks Association. A study by trade lobby Assocham in September
2013 indicated that banks would need 800000 people in the next six years. It
estimated that state-run lenders alone would hire 50000 people in 2013/14.
The Competition Commission of
India plans to issue final orders within a broad time-frame of one year in
matters where it decides to carry out detailed investigations. The number of
complaints received by the watchdog which keeps tabs on unfair trade practices
in the marketplace.
The government has detected
custom tax evasion totaling around Rs 37920 mn in 14 states until December.
Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs
8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.
Connaught Place in New Delhi
slipped four notches to become the world’s eighth most expensive office locations.
London’s West End is the world’s most expensive office market.
There are 4.072 mn number of
high value spenders under the scanner of the income tax department. The income
tax department has information that they have made cash deposits announcing to
Rs 1 mn or more in their savings bank accounts in the current financial year.
It plans to check potential evasion before the closing of the financial year on
March 31.
Estimated pharmaceutical sales
in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago.
The life sciences and health care industry is up against challenges such as
quality management, says a recent Deloitte report.
The gross non-performing assets
of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months
of the financial year. In absolute terms, the 40 listed banks added Rs 3386
crore to their gross NPAs in nine months with the State Bank of India leading
with the State Bank of India leading with an accretion of Rs 16610 crore.
The inflow of smuggled gold
doubled in 2013 following restrictions to curb the supply from official
channels to contain the current account deficit. China surpassed India in the
demand for gold for the first time in 2013 due to liberalization of gold
trading norms by its local governments.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Bank Facilities=B |
|
Rating Explanation |
Have high risk of default. |
|
Date |
31.10.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities=A4 |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
31.10.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED BY
|
Name : |
Ms. Vaishali |
|
Designation : |
Office Executive |
|
Contact No.: |
91-22-61115200 |
|
Date : |
13.03.2014 |
LOCATIONS
|
Registered Office : |
B – 306, Dynasty Business Park, JB Nagar, Andheri Kurla Road, Andheri (East),
Mumbai – 400 059, Maharashtra, India |
|
Tel No: |
91-22-61115200 / 228/ 299 / 28227861 / 64 |
|
Mobile No.: |
91-9822060827 (Mr. Yogesh
Ramnivas Mandhani) |
|
Fax No: |
91-22-28227865 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No.C-2, Deoli Growth Centre, Deoli MIDC, Deoli, District Wardha –
442 101, Maharashtra, India |
|
Tel No.: |
91-7152-254044 |
|
Fax No.: |
91-2482-320184 |
|
E-mail: |
|
|
|
|
|
Branch Office : |
190, Priyadarshini Colony Sambhaji Nagar, Jalana – 431 203,
Maharashtra, India |
|
Email: |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Ram Pal Soni |
|
Designation : |
Director |
|
Address : |
01, Main Sector, Shstri Nagar, Bhilwara – 311001, |
|
Date of Birth/Age : |
26.01.1946 |
|
Qualification : |
Bsc. Diploma in Civil Engineering |
|
Date of Appointment : |
18.03.2010 |
|
DIN NO: |
00401439 |
|
|
|
|
Name : |
Mr. Yogesh Ramnivas Mandhani |
|
Designation : |
Director |
|
Address : |
H. No 1, 28, 4118, 3, Ramnivas, Karwa Nagar, Jalna – 431203, |
|
Date of Birth/Age : |
06.12.1976 |
|
Qualification : |
BE in Chemical Engineering |
|
Date of Appointment : |
26.05.2008 |
|
DIN NO: |
01691583 |
KEY EXECUTIVES
|
Name : |
Ms. Vaishali |
|
Designation : |
Office Executive |
|
|
|
|
Name : |
Mr. Manoj Kumar Palaria |
|
Designation : |
Secretary |
|
Address : |
Plot No. 62, Vaibhav Sevgram Road, Snehal Nagar, Wardha – 443 201,
Maharashtra, India |
|
Date of Birth/Age : |
26.05.1974 |
|
Date of Appointment : |
30.03.2011 |
|
Pan No.: |
AJVPP8366Q |
MAJOR SHAREHOLDERS
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
%age |
|
Sanjay Ramkishan Mantri |
5000 |
0.03 |
|
Ramkishan Nanakram Mantri |
5000 |
0.03 |
|
Sangam Infratech Limited, India
|
10100000 |
61.18 |
|
Swift Venturers Private Limited, India |
2300000 |
13.93 |
|
Dhanlaxmi Re Rolling Mill, India |
900000 |
5.45 |
|
Sukaniya Properties Private Limited, India |
350000 |
2.12 |
|
Seawoods Hospitality and Realty Private Limited, India |
325000 |
1.97 |
|
Intime Realty Private Limited, India |
275000 |
1.67 |
|
Sangam Business Credits Limited, India |
250000 |
1.51 |
|
Suchitra Finance and Trading Company Limited, India |
2000000 |
12.11 |
|
TOTAL
|
16510000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
99.94 |
|
Directors or relatives of Directors |
0.06 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Thermo Mechanical Treated / MS Rods /
Round, etc. |
||||||
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|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
||||||||||||||||||
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|
||||||||||||||||||
|
Bankers : |
·
State Bank of ·
Union Bank of India, First Floor, Union Bank Bhavan, 239, Vidhan Bhavan Marg,
Nariman Point, Mumbai – 400021, Maharashtra, India ·
State Bank of ·
IDBI Bank Limited ·
Punjab National Bank |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. N. Bhutra and Company Chartered Accountants |
|
Address : |
608-609, Chambers, Opposite Hotel Karan Palace, Sonawala Road,
Goregaon, Mumbai – 400 062, Maharashtra, India |
|
PAN No: |
AJUPB5639F |
|
|
|
|
Associates / Joint Ventures: |
·
Kalyan Sangam Infratech Limited ·
Sangam Business Credit Limited ·
Sangam India Limited |
|
|
|
|
Other Related
Parties : |
·
Sangam Infratech Limited ·
Dhanlaxmi Re-Rolling Mill ·
Swift Ventures Private Limited |
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16510000 |
Equity Shares |
Rs.10/- each |
Rs.165.100 Millions |
|
|
|
|
|
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Share |
Rs.10/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8010000 |
Equity Share |
Rs.10/- each |
Rs.80.100
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
80.100 |
40.100 |
0.100 |
|
|
2] Share Application Money |
627.369 |
252.327 |
0.100 |
|
|
3] Reserves & Surplus |
759.161 |
362.513 |
2.512 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1466.630 |
654.940 |
2.712 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3087.927 |
531.621 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
105.454 |
|
|
TOTAL BORROWING |
3087.927 |
531.621 |
105.454 |
|
|
DEFERRED TAX LIABILITIES |
18.229 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4572.786 |
1186.561 |
108.166 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
742.830 |
0.000 |
0.000 |
|
|
Capital work-in-progress |
2352.727 |
934.686 |
104.291 |
|
|
Expenditure Pending Allocation |
382.582 |
79.802 |
|
|
|
|
|
|
|
|
|
INVESTMENT |
0.032 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
406.983
|
151.183
|
0.000
|
|
|
Sundry Debtors |
507.000
|
0.000
|
0.000
|
|
|
Cash & Bank Balances |
133.395
|
74.006
|
2.538
|
|
|
Other Current Assets |
174.832
|
0.000
|
0.000
|
|
|
Loans & Advances |
336.458
|
117.094
|
6.833
|
|
Total
Current Assets |
1558.668
|
342.283
|
9.371 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
365.356
|
161.165
|
3.816
|
|
|
Other Current Liability |
87.589
|
9.045
|
0.000
|
|
|
Provisions |
11.108
|
0.000
|
1.828
|
|
Total
Current Liabilities |
464.053
|
170.210
|
5.644 |
|
|
Net Current Assets |
1094.615
|
172.073
|
3.727
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.148 |
|
|
|
|
|
|
|
|
TOTAL |
4572.786 |
1186.561 |
108.166 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4740.611 |
-- |
-- |
|
|
|
Other Income |
165.096 |
-- |
-- |
|
|
|
TOTAL (A) |
4905.707 |
-- |
-- |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
4717.250 |
-- |
-- |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
188.457 |
-- |
-- |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
92.849 |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
95.608 |
-- |
-- |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
40.730 |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
54.878 |
-- |
-- |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
18.229 |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
36.649 |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
TOTAL EARNINGS |
2.897 |
-- |
-- |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.58 |
-- |
-- |
|
|
Particulars |
|
31.03.2013 |
31.03.2012 |
|
Sales Turnover (Approximately) |
|
9832.900 |
7227.700 |
|
|
|
|
|
|
Profit/(Loss) for the year |
|
(846.700) |
(133.200) |
NOTE: The above
financials for the year 2012 and 2013 are taken from indirect source i.e.
CRISIL
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.75
|
--
|
-- |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.16
|
--
|
-- |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.38
|
--
|
-- |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
--
|
-- |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.10
|
0.81
|
38.88
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.36
|
2.01
|
1.16
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
0.100 |
40.100 |
80.100 |
|
Share Application Money |
0.100 |
252.327 |
627.369 |
|
Reserves & Surplus |
2.512 |
362.513 |
759.161 |
|
Net
worth |
2.712 |
402.613 |
839.261 |
|
|
|
|
|
|
Secured Loans |
0.000 |
531.621 |
3087.927 |
|
Unsecured Loans |
105.454 |
0.000 |
0.000 |
|
Total
borrowings |
105.454 |
531.621 |
3087.927 |
|
Debt/Equity
ratio |
38.884 |
1.320 |
3.679 |
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
one year |
Yes |
|
12] |
Profitability for last
one year |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming financial
year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE: Registered Office
of the company has been shifted from 190, Priyadarshini Colony Sambhaji Nagar,
Jalana – 431203, Maharashtra, India to the present address w.e.f. 08.08.2011.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10387912 |
25/10/2012 |
500,000,000.00 |
UNION
BANK OF INDIA |
IND
FIN. BRANCH, 1ST FLOOR, UNION BANK BHAWAN, 239, VIDHAN BHAWAN MARG, NARIMAN POINT,
MUMBAI, MAHA |
B62532379 |
|
2 |
10307892 |
27/08/2011 |
2,990,000,000.00 |
STATE
BANK OF BIKANER AND JAIPUR |
IIND
FLOOR, TAMBI TOWERS, S.C. ROAD, JAIPUR, RAJASTHAN - 302001, INDIA |
B21313390 |
|
3 |
10297871 |
25/06/2011 |
1,260,000,000.00 |
STATE
BANK OF BIKANER AND JAIPUR |
IIND
FLOOR, TAMBI TOWERS, S.C. ROAD, JAIPUR, RAJASTHAN - 302001, INDIA |
B17093030 |
|
4 |
10237089 |
22/08/2013
* |
8,561,700,000.00 |
UNION
BANK OF INDIA (ACTING AS LEAD BANK & AGENT ON BEHALF OF OTHER LENDERS) |
FIRST
FLOOR, UNION BANK BHAVAN,, 239, VIDHAN BHAVAN MARG, NARIMAN POINT, MUMBAI,
MAHARASHTRA - 400021, INDIA |
B85440543 |
|
5 |
10213016 |
15/04/2010 |
2,520,000.00 |
SREI
EQUIPMENT FINANCE PRIVATE LIMITED |
'VISHWAKARMA',
86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
A83450270 |
|
6 |
10183347 |
01/10/2009
* |
800,000,000.00 |
UNION
BANK OF INDIA (ACING AS LEAD BANK) |
IFB,
1ST FLOOR, UNION BANK BHAVAN, 239, VIDHAN BHAVAN MARG, NARIMAN POINT, MUMBAI,
MAHARASHTRA - 400021, INDIA |
A73304701 |
* Date of charge modification
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.61.08 |
|
|
1 |
Rs.101.41 |
|
Euro |
1 |
Rs.85.08 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
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 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
28 |
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.