MIRA
INFORM REPORT
|
Report Date : |
27.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
SARRALLE EQUIPMENT INDIA PRIVATE LIMITED (w.e.f. 12.07.2007) |
|
|
|
|
Formerly Known
As : |
SARRALLE AIF EQUIPMENT INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
238B, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
16.12.2005 |
|
|
|
|
Com. Reg. No.: |
21-106723 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.304.808 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29142WB2005PTC106723 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALS17441E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJCS7551A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Industrial
Furnaces. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 902000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The company has incurred a loss from its operations during 2013. However, trade relations are fair. Business is active. Payment are
reported to be slow but correct. The company can be considered for business dealings 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
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
B+ (Bank Loan Rating) |
|
Rating Explanation |
Have high risk of default. |
|
Date |
March 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A4 (Bank Loan Rating) |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
March 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 PARTED BY
|
Name : |
Mr. Amar Mallik |
|
Designation : |
Account Executive |
|
Contact No.: |
91-33-23241102 |
|
Date : |
26.03.2014 |
LOCATIONS
|
Registered Office : |
238B, A.J.C. Bose Road, Kolkata – 700020, West Bengal, India |
|
Tel. No.: |
91-33-64500172/ 73 |
|
Fax No.: |
91-33-26210829 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Head Office : |
Unit No. 204, 2nd Floor Block 3B, Ecospace, Ambija Realty,
New Town, Kolkata – 700156, West Bengal, India |
|
Tel. No.: |
91-33-23241102 |
|
Fax No.: |
91-33-23571101 |
|
|
|
|
Corporate Office : |
CINSYS Tower, 2nd Floor, Y-13, EP Block, Sector V, Salt
Lake, Kolkata – 700019, West Bengal, India |
|
|
|
|
Factory : |
NH-6, P.O Mahishrekha, Mouza-Madhapur, P. S. Uluberia, Howarh –
711303, West Bengal, India |
DIRECTORS
As on: 18.12.2013
|
Name : |
Mr. Vijay Agarwal Kumar |
|
Designation : |
Director |
|
Address : |
2/1A, Burdwan Road, Kolkata – 700016, West Bengal, India |
|
Date of Birth/Age : |
28.10.1945 |
|
Date of Appointment : |
21.07.2007 |
|
DIN No.: |
00121351 |
|
|
|
|
Name : |
Mr. Kamal Prakash |
|
Designation : |
Director |
|
Address : |
30, J.L. Nehru Road, FL - 23, BL – D, Kolkata – 700016, West Bengal,
India |
|
Date of Birth/Age : |
15.04.1957 |
|
Date of Appointment : |
21.07.2007 |
|
DIN No.: |
00700589 |
|
|
|
|
Name : |
Miguel Angel Iriarte Lazkano |
|
Designation : |
Director |
|
Address : |
Baro Izarraitz Abarrots Etxea, 506, Azpeitia, Guipuzcoa – 20829A6B1,
Spain |
|
Date of Birth/Age : |
24.12.1965 |
|
Date of
Appointment : |
08.01.2009 |
|
DIN No.: |
02157838 |
|
|
|
|
Name : |
Feliciano Elias Gil Gonzalez |
|
Designation : |
Director |
|
Address : |
C Bizcarguj 85 D, Azkoitia, Guipuzcoa - 20829A6D1, Spain |
|
Date of Birth/Age : |
26.04.1973 |
|
Date of Appointment : |
08.01.2009 |
|
DIN No.: |
02322405 |
|
|
|
|
Name : |
Juan Antonio Bilbao Aristizabal |
|
Designation : |
Managing Director |
|
Address : |
C, Erri Berene 10BJ IZ, Oiartzun – 20541L6D1 |
|
Date of Birth/Age : |
26.04.1973 |
|
Date of Appointment : |
19.07.2012 |
|
DIN No.: |
06362411 |
KEY EXECUTIVES
|
Name : |
Mr. Amar Mallik |
|
Designation : |
Account Executive |
|
|
|
|
Name : |
Souvik Mukherjee |
|
Designation : |
Secretary |
|
Address : |
54/5, Baksara Road, PO-Baksara, Howarh – 711110, West Bengal, India |
|
Date of Birth/Age : |
04.01.1975 |
|
Experience : |
13.05.2013 |
|
PAN No.: |
ANDPM2292M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 18.12.2013
|
Names of Shareholders |
No. of Shares |
%age |
|
Sarralle Eqipos Siderurgicos S.L, Spain |
28824366 |
86.13 |
|
Sanjeev Kumar Deora |
610500 |
1.82 |
|
Shree Kuber Products Private Limited, India |
1836147 |
5.49 |
|
Unimark International Private Limited, India |
2196167 |
6.56 |
|
|
|
|
|
Total |
33467180 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on: 18.12.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
85.00 |
|
Bodies corporate |
|
13.00 |
|
Other top fifty shareholders |
|
2.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Industrial Furnaces. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
Spain |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
Spain |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit |
|
|
|
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|||||||||||||||
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|
|||||||||||||||
|
No. of Employees : |
150 (Approximately) |
|||||||||||||||
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|
|||||||||||||||
|
Bankers : |
· Indian Bank, 1 Ganesh Chandra Avenue, Kolkata - 700013, West Bengal, India · Axis Bank Limited, Kolkata Main Branch, 7, Shakespeare Sarani, Kolkata - 700071, West Bengal, India |
|||||||||||||||
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|
|||||||||||||||
|
Facilities : |
Cash Credit Rs.200.000 Millions (From Indian Bank) (Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jain Saraogi and Company Chartered Accountants |
|
Address : |
1, Crooked Lane, 1st Floor,Kolkata-700069, West Bengal, India |
|
PAN No.: |
AABFJ8115G |
|
|
|
|
Holding Company : |
Sarralle Equipos Siderurgicos S.L |
CAPITAL STRUCTURE
As on: 18.12.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35000000 |
Equity Shares |
Rs.10/- each |
Rs.350.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
33467180 |
Equity Shares |
Rs.10/- each |
Rs.334.672 Millions |
|
|
|
|
|
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35000000 |
Equity Shares |
Rs.10/- each |
Rs.350.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,0480780 |
Equity Shares |
Rs.10/- each |
Rs.304.808 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 |
304.808 |
141.051 |
141.051 |
|
(b) Reserves & Surplus |
(79.275) |
(56.413) |
36.987 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
8.269 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
225.533 |
92.907 |
178.038 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
89.634 |
63.948 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
12.983 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1.067 |
1.237 |
0.876 |
|
Total
Non-current Liabilities (3) |
1.067 |
90.871 |
77.807 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
118.883 |
87.480 |
93.978 |
|
(b) Trade payables |
157.507 |
99.425 |
135.505 |
|
(c) Other current liabilities |
66.380 |
111.377 |
60.276 |
|
(d) Short-term provisions |
0.021 |
7.299 |
7.518 |
|
Total
Current Liabilities (4) |
342.791 |
305.581 |
297.277 |
|
|
|
|
|
|
TOTAL |
569.391 |
489.359 |
553.122 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
215.699 |
224.735 |
232.826 |
|
(ii) Intangible Assets |
0.603 |
1.385 |
1.965 |
|
(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 |
0.000 |
0.000 |
0.100 |
|
(c) Deferred tax assets (net) |
28.357 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4.379 |
2.141 |
12.397 |
|
(e) Other Non-current assets |
7.804 |
6.258 |
23.125 |
|
Total
Non-Current Assets |
256.842 |
234.519 |
270.413 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
95.333 |
118.466 |
48.996 |
|
(c) Trade receivables |
169.933 |
99.161 |
193.227 |
|
(d) Cash and cash equivalents |
28.893 |
21.295 |
27.301 |
|
(e) Short-term loans and
advances |
17.467 |
14.733 |
12.474 |
|
(f) Other current assets |
0.923 |
1.185 |
0.711 |
|
Total
Current Assets |
312.549 |
254.840 |
282.709 |
|
|
|
|
|
|
TOTAL |
569.391 |
489.359 |
553.122 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
284.172 |
189.849 |
453.490 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(50.987) |
(99.245) |
35.065 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(28.125) |
(5.845) |
12.392 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER
TAX |
(22.862) |
(93.400) |
22.673 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(22.862) |
(93.400) |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
12.713 |
6.002 |
8.384 |
|
|
|
Stores & Spares |
1.138 |
0.326 |
0.000 |
|
|
TOTAL IMPORTS |
13.851 |
6.328 |
8.384 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(1.16) |
(9.86) |
2.40 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
(17.94) |
(52.28) |
7.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(9.42) |
(20.28) |
6.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.23) |
(1.07) |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.53 |
1.91 |
0.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.91 |
0.83 |
0.95 |
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 |
141.051 |
141.051 |
304.808 |
|
Reserves & Surplus |
36.987 |
(56.413) |
(79.275) |
|
Net
worth |
178.038 |
84.638 |
225.533 |
|
|
|
|
|
|
long-term borrowings |
63.948 |
89.634 |
0.000 |
|
Short term borrowings |
93.978 |
87.480 |
118.883 |
|
Total
borrowings |
157.926 |
177.114 |
118.883 |
|
Debt/Equity
ratio |
0.887 |
2.093 |
0.527 |
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) |
|
Sales |
453.490 |
189.849 |
284.172 |
|
|
|
(58.136) |
49.683 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
453.490 |
189.849 |
284.172 |
|
Profit |
22.673 |
(93.400) |
(22.862) |
|
|
5.00% |
(49.20%) |
(8.05%) |
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 |
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 |
Yes |
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG-TERM
BORROWINGS |
|
|
|
Loans and advances from others |
0.000 |
89.634 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Loans repayable on demand |
0.000 |
0.500 |
|
|
|
|
|
Total |
0.000 |
90.134 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10396920 |
17/12/2012 |
411,000,000.00 |
INDIAN BANK |
1 GANESH CHANDRA AVENUE, KOLKATA, WEST BENGAL - 700013, INDIA |
B65860371 |
|
2 |
10087144 |
25/03/2008 * |
131,300,000.00 |
Axis Bank Ltd. |
KOLKATA MAIN BRANCH, 7, SHAKESPEARE SARANI, KOLKATA, WEST BENGAL - 700071, INDIA |
A39541479 |
|
3 |
10043334 |
20/04/2012 * |
345,100,000.00 |
INDIAN BANK |
G.C. AVENUE BRANCH, 1, GANESH CHANDRA AVENUE, KOLKATA, WEST BENGAL - 700013, INDIA |
B38712097 |
* Date of charge modification
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
Intangible Assets
· Computer Software
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.60.17 |
|
|
1 |
Rs.99.39 |
|
Euro |
1 |
Rs.83.09 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
0 |
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
26 |
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.