MIRA INFORM REPORT
|
Report Date : |
03.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
AUROMA COKE LIMITED |
|
|
|
|
Registered
Office : |
Shanti
Niketan Building, Suit No. 706, 8,
Camac Street, Kolkata – 700017, West Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
17.09.1993 |
|
|
|
|
Com. Reg. No.: |
060154 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.66.252 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L23101WB1993PLC060154 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALA02921C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCA3646H |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturer of Low Ash Metallurgical Coke (LAMC) |
|
|
|
|
No. of Employees
: |
Not Available |
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 1500000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There are sharp dip in the profitability of the company during 2013. Reserves
of the company also seems to be low. 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 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects positive
impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs.7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facility: B+ |
|
Rating Explanation |
Have high risk of default |
|
Date |
21.02.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facility: A4 |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
21.02.2014 |
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.
LOCATIONS
|
Registered Office : |
Shanti
Niketan Building, Suit No. 706, 8,
Camac Street, Kolkata – 700017, West Bengal, India |
|
Tel. No.: |
91-33-22825759/ 22822310 |
|
Fax No.: |
91-33-22825759 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
210, “Shanti Bhawan”, Bank More, Dhanbad – 826001, Jharkhand, India |
|
Tel. No.: |
91-326-2201333/ 2800/ 1526 |
|
Fax No.: |
91-326-2224414 |
DIRECTORS
(AS ON 31.03.2013)
|
Name : |
Mr.
Vimal Kumar Tulsyan |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr.
Rajiv Tulsyan |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr.
Sanjeev Tulsyan |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr.
Prashant Tulsyan |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr.
Binod Kumar Singh |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr.
Nawal Kishore Singh |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr.
Alok Sawa |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr.
Swapan De Choudhury |
|
Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 31.03.2014)
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
(A) Shareholding of Promoter and Promoter
Group |
|
|
|
|
|
|
|
|
987482 |
15.63 |
|
|
585612 |
9.27 |
|
|
1573094 |
24.90 |
|
|
|
|
|
|
|
|
|
Total shareholding of Promoter and Promoter
Group (A) |
1573094 |
24.90 |
|
|
|
|
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
250000 |
3.96 |
|
|
14300 |
0.23 |
|
|
264300 |
4.18 |
|
|
|
|
|
|
|
|
|
|
2302249 |
36.43 |
|
|
|
|
|
|
|
|
|
|
535853 |
8.48 |
|
|
1543673 |
24.43 |
|
|
|
|
|
|
99731 |
1.58 |
|
|
91731 |
1.45 |
|
|
8000 |
0.13 |
|
|
4481506 |
70.92 |
|
|
|
|
|
Total Public shareholding (B) |
4745806 |
75.10 |
|
|
|
|
|
Total (A)+(B) |
6318900 |
100.00 |
|
|
|
|
|
(C) Shares held by Custodians and against
which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
|
|
|
Total (A)+(B)+(C) |
6318900 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Low Ash Metallurgical Coke (LAMC) |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
State Bank of India |
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Facilities : |
|
|||||||||||||||||||||||||||
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|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Agarwal
Khemka and Associates Chartered Accountants |
|
|
|
|
Associates : |
·
ACM Fuels Limited ·
Auroma Projects Private Limited (Earlier
Auroma Coke Manufacturers Private Limited) ·
Smart Dealers Private Limited · A C M Finvests Private Limited |
CAPITAL STRUCTURE
(AS ON 25.07.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9000000 |
Equity Shares |
Rs.10/- each |
Rs.90.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6318900 |
Equity Shares |
Rs.10/- each |
Rs.63.189
Millions |
|
|
Add: Shares
Forfeited (Amount originally paid up) |
|
Rs.3.063
Millions |
|
|
|
|
|
|
|
|
|
Rs.66.252 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 |
66.252 |
66.252 |
66.252 |
|
(b) Reserves & Surplus |
45.132 |
44.944 |
40.131 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
252.400 |
252.400 |
277.850 |
|
Total Shareholders’
Funds (1)+(2) |
363.784 |
363.596 |
384.233 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.685 |
0.109 |
0.265 |
|
(b) Deferred tax liabilities (Net) |
8.086 |
8.852 |
9.149 |
|
(c) Other long term
liabilities |
0.203 |
0.424 |
0.324 |
|
(d) long-term
provisions |
0.525 |
0.497 |
0.475 |
|
Total Non-current
Liabilities (3) |
9.499 |
9.882 |
10.213 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
169.517 |
168.863 |
187.727 |
|
(b) Trade
payables |
16.750 |
52.789 |
37.692 |
|
(c) Other
current liabilities |
29.320 |
26.502 |
37.857 |
|
(d) Short-term
provisions |
0.736 |
2.903 |
2.648 |
|
Total Current
Liabilities (4) |
216.323 |
251.057 |
265.924 |
|
|
|
|
|
|
TOTAL |
589.606 |
624.535 |
660.370 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
115.236 |
112.886 |
106.340 |
|
(ii)
Intangible Assets |
0.129 |
0.160 |
0.175 |
|
(iii) Capital
work-in-progress |
20.738 |
17.383 |
13.864 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.100 |
0.100 |
0.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
28.824 |
28.542 |
28.922 |
|
(e) Other
Non-current assets |
0.584 |
0.937 |
1.360 |
|
Total Non-Current
Assets |
165.611 |
160.008 |
150.761 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
265.659 |
272.961 |
300.558 |
|
(c) Trade
receivables |
99.126 |
89.168 |
81.714 |
|
(d) Cash
and cash equivalents |
5.492 |
37.867 |
15.449 |
|
(e)
Short-term loans and advances |
40.984 |
56.715 |
104.081 |
|
(f) Other current
assets |
12.734 |
7.816 |
7.807 |
|
Total
Current Assets |
423.995 |
464.527 |
509.609 |
|
|
|
|
|
|
TOTAL |
589.606 |
624.535 |
660.370 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
284.338 |
385.091 |
464.887 |
|
|
|
Other Income |
0.076 |
0.233 |
0.154 |
|
|
|
TOTAL (A) |
284.414 |
385.324 |
465.041 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost
of Raw Materials Consumed/ Sold |
168.055 |
260.926 |
364.844 |
|
|
|
Purchases
of Stock-in-trade |
39.457 |
52.762 |
59.584 |
|
|
|
Changes
in inventories of finished goods and stock-in-trade |
3.775 |
(7.818) |
(42.467) |
|
|
|
Transfer
of Raw Material to Finished Goods |
0.625 |
0.000 |
0.000 |
|
|
|
Employee
benefits expense |
8.164 |
7.963 |
7.666 |
|
|
|
Other
Expenses |
36.868 |
34.657 |
42.904 |
|
|
|
TOTAL (B) |
256.944 |
348.490 |
432.531 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
27.470 |
36.834 |
32.510 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
20.222 |
21.794 |
17.767 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.248 |
15.040 |
14.743 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.949 |
6.815 |
6.650 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
0.299 |
8.225 |
8.093 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.105 |
3.407 |
2.291 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
0.194 |
4.818 |
5.802 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
44.646 |
39.828 |
34.026 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
44.840 |
44.646 |
39.828 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.000 |
0.000 |
38.882 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.03 |
0.76 |
0.92 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.07
|
1.25 |
1.25 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.11
|
2.14 |
1.74 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.05
|
1.35 |
1.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.02 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.47
|
0.46 |
0.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.96
|
1.85 |
1.92 |
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 |
66.252 |
66.252 |
66.252 |
|
Reserves & Surplus |
40.131 |
44.944 |
45.132 |
|
Share Application money
pending allotment |
277.850 |
252.400 |
252.400 |
|
Net worth |
384.233 |
363.596 |
363.784 |
|
|
|
|
|
|
long-term borrowings |
0.265 |
0.109 |
0.685 |
|
Short term borrowings |
187.727 |
168.863 |
169.517 |
|
Total borrowings |
187.992 |
168.972 |
170.202 |
|
Debt/Equity ratio |
0.489 |
0.465 |
0.468 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue form Operations |
464.887 |
385.091 |
284.338 |
|
|
|
(17.165) |
(26.163) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operations |
464.887 |
385.091 |
284.338 |
|
Profit |
5.802 |
4.818 |
0.194 |
|
|
1.25% |
1.25% |
0.07% |
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 |
No |
|
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 |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
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 LOANS
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
Short Term
Borrowings |
|
|
|
(Includes
interest accrued and added to principal) |
|
|
|
From
related parties |
21.670 |
12.822 |
|
Other
Loans |
29.781 |
7.915 |
|
|
|
|
|
Total |
51.451 |
20.737 |
REVIEW OF BUSINESS AND
PERFORMANCE
During the year, Indian
economy went through one of its slowest growth in last two decades. The
economic activities in the country, metal sector in particular, have been
adversely affected due to high interest rates, deteriorating fiscal ratios and
uncertain political conditions prevailing in the country. The slow growth in
steel industry had impacted both sales and price realization of met coke in
India. However, it can only be hoped that the things will move for the better
in the coming years.
During the year, the
Company’s total revenue fallen 26% to Rs.284.414 Millions compared to
Rs.385.323 Millions recorded in the previous year. Similarly, the Profit after
tax fallen 96% to Rs.0.194 Millions compared to Rs.4.818 Millions recorded in
the previous year.
MANAGEMENT DISCUSSION AND
ANALYSIS REPORT
INDUSTRY STRUCTURE AND
DEVELOPMENT
India has acute shortage of
premium quality hard coking coal and even the available metallurgical coal is
of the inferior quality. Consequently the bulk of the India’s requirements of
hard coking coal is met through imports. Hence, the domestic coal and coke
industry continues to face stiff competition from the international market,
mainly from China and Australia, since the quality of their coal is better than
the indigenous coal.
On the other hand the
timely availability of imported coal and coke at reasonable prices is also a
problem as the international market is highly volatile and the supply may be
limited at times. Many iron and steel industry have come up in the nearby areas
increasing the demand of metallurgical coal and coke. The main coal and coke
consuming industries are iron and steel plant, power plant, cement plant,
sponge iron plants, chemical plants etc. Hence, the shortage of coking coal
translates into supply constraints in met coke. It is fact without any doubt
that coking coal and met coke are going to be critical and most sought after
commodities for India, in the years to come.
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10013066 |
29/06/2006 |
1,575,000.00 |
CITI CORP FINANCE INDIA
LIMITED |
1.HO CHI MINH SARANI, 7TH
FLOOR, METRO PLAZA, KOL |
A03289436 |
|
2 |
80027532 |
15/11/2012 * |
185,000,000.00 |
STATE BANK OF INDIA |
SME BRANCH, GOODWILL
PROPERTIES, 2ND FLOOR, KATRA |
B65771313 |
* Date of charge modification
FIXED ASSETS:
· Land
· Shed and Building
· Plant and Machinery
· Furniture and Fixtures
· Computers
· Vehicles
· Computers 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 records 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.60.22 |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--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.