|
Report Date : |
06.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
JAGDAMBA LIQUIFIED STEELS LIMITED |
|
|
|
|
Registered
Office : |
Adhunik Enterprises, C-111/112, New Multan Nagar, Near Peera Gari
Chowk, Opposite Jawala Hri Bus Stop, New Delhi – 110056 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
19.05.1993 |
|
|
|
|
Com. Reg. No.: |
55-164717 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 32.206 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27310DL1993PLC164717 |
|
|
|
|
Legal Form : |
A closely held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Steel and Alloy Steel Casting, Cast Iron (CI)
Casting, Alloy CI Casting and Spheroidal Graphite (SG) Iron Casting. |
|
|
|
|
No. of Employees
: |
350 (Approximately) |
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 550000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The rating takes into consideration company’s moderate financial risk
profile and by sharp dip in profitability of the company during financial year
2013. However, trade relation 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.
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 Facilities: BB |
|
Rating Explanation |
Moderate risk of default and high credit
risk. |
|
Date |
22.04.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities: A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
22.04.2014 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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. Vipul Agarwal |
|
Designation : |
Client Relation Manager. |
|
Contact No.: |
91-9897593820 |
|
Date : |
03.05.2014 |
LOCATIONS
|
Registered Office : |
Adhunik Enterprises, C-111/112, New Multan Nagar, Near Peera Gari Chowk,
Opposite Jawala Hri Bus Stop, New Delhi – 110056, India |
|
Tel No: |
Not Available |
|
Mobile No.: |
91-9897593820 (Mr. Vipul Agarwal) |
|
Fax No: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
16-17 K.M. Milestone, Roorkee - Saharapur Road, Bhagwanpur – Raipur,
Haridwar - 247661, Uttarakhand, India |
|
|
|
|
Factory 2 : |
Located at · Roorkee |
|
|
|
|
Factory 3 : |
Located at · Hathras |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Lokesh Lohia |
|||||||||||||||||||||||||||||||||||||
|
Designation : |
Directors |
|||||||||||||||||||||||||||||||||||||
|
Address : |
H. No 765, Hanuman Gali Hathras – 204101, Aligarh, Uttar Pradesh,
India. |
|||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
15.05.1969 |
|||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
19.05.1993 |
|||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01720747 |
|||||||||||||||||||||||||||||||||||||
|
Other Directorship : |
||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||
|
Name : |
Ms. Usha Lohia |
|||||||||||||||||||||||||||||||||||||
|
Designation : |
Directors |
|||||||||||||||||||||||||||||||||||||
|
Address : |
H. No 765, Hanuman Gali Hathras – 204101, Aligarh, Uttar Pradesh,
India. |
|||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
26.05.1947 |
|||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
28.11.1994 |
|||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01810504 |
|||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
||||||||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Bahadur Singh |
|||||||||||||||||||||||||||||||||||||
|
Designation : |
Directors |
|||||||||||||||||||||||||||||||||||||
|
Address : |
H. No 765, Hanuman Gali, Hathras – 204101, Aligarh, Uttar Pradesh,
India. |
|||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
25.01.2013 |
|||||||||||||||||||||||||||||||||||||
|
DIN No.: |
06640714 |
|||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Vipul Agarwal |
|
Designation : |
Client Relation Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Hari Mohan Lohia |
|
63400 |
|
Lokesh Lohia |
|
147000 |
|
Neetu Lohia |
|
167400 |
|
Parth Lohia |
|
5000 |
|
Rekha Lohia |
|
9500 |
|
Usha Lohia |
|
42600 |
|
Yogesh Lohia |
|
67100 |
|
Hari Mohan Lohia HUF |
|
77500 |
|
Lokesh Lohia HUF |
|
41500 |
|
Yogesh Lohia HUF |
|
41500 |
|
Eden Exim Limited |
|
2558100 |
|
|
|
|
|
Total |
|
3220600 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate (not mentioned above) |
|
79.43 |
|
Directors
or relatives of directors |
|
20.57 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Steel and Alloy Steel Casting, Cast Iron (CI)
Casting, Alloy CI Casting and Spheroidal Graphite (SG) Iron Casting. |
|
|
|
|
Products : |
·
Steel Alloy Steel Casting ·
CL and Alloy CL Casting ·
SG Iron Casting |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
Netherland |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit |
|
|
|
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
350 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
Allahabad Bank Mall Road, Meerut – 250001, Uttar Pradesh, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||
|
(a)
Cash Credit from banks include cash credit limits
of Rs.10.50 Crores sactioned by Allahabad Banks, secured against primary
security of hypothecation of inventory, books debts, currents assets and
other movable assets of the company and collateral security of equitable
mortgage of plants & machinery and land & building Bhagwanpur,
Roorkee, land & building at lokeshwari, roorkee and residential plot at
shahnagar, Dehradun and personal guarantee of Directors of the company and
corporate guarantee of M/s Eden exim Limited, Delhi. It is repayable on
demand and carries interest 2.00% above the BPLR. (b)
Cash Credit from banks include cash credit limit
of Rs. 1.00 Crores sanctioned by Oriented Bank of Commerce, Provided for
hathras unit of the company. It is secured against primary security of
hypothecation of inventory, book debts and entire assets of the company and
personal guarantee of directors of the company and corporate guarantee of M/s
Eden Exim Limited, Delhi. It is repayable on demand and carries interest 5.00%
above the BPLR. (c)
Term loan from bank includes loan taken from
Allahabad bank. It was taken for purchase of machinery. The loan carries
interest of 2.00% above the BPLR(8.50%) and is repayable in 84 monthly
installments. The loan is secured against primary security of hypothecation
of inventory, books debts, currents assets and other movable assets of the
company and collateral security of equitable mortgage of plants &
Machinery and land & building at Bhagwanpur, Roorkee, land & building
at Lokeshwari, Roorkee and residential plot of directors at shahnagar,
Dehradun. Additionally, personal guarantee of Directors of the company and
corporate guarantee of M/s Eden Exim Limited, Delhi has also been provided. |
||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||
|
Banking
Relations : |
---- |
|
|
|
|
Auditors : |
|
|
Name : |
Anurag Sangal and Company Chartered Accountants |
|
|
|
|
Sister Concerns:
|
· Affine Steels Private Limited · Kriss Cross Inc (Mr.Parth Lohia Proprietor) |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- Each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3220600 |
Equity Shares |
Rs.10/- Each |
Rs.32.206
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 |
32.206 |
32.206 |
32.206 |
|
(b) Reserves & Surplus |
67.232 |
65.181 |
51.783 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
38.700 |
38.700 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
138.138 |
136.087 |
83.989 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
82.690 |
28.207 |
23.145 |
|
(b) Deferred tax liabilities (Net) |
(0.443) |
(0.499) |
(0.254) |
|
(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) |
82.247 |
27.708 |
22.891 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
115.158 |
112.998 |
77.937 |
|
(b)
Trade payables |
4.294 |
33.504 |
34.751 |
|
(c)
Other current liabilities |
3.830 |
2.861 |
0.991 |
|
(d)
Short-term provisions |
3.339 |
4.883 |
3.055 |
|
Total
Current Liabilities (4) |
126.621 |
154.246 |
166.734 |
|
|
|
|
|
|
TOTAL |
347.006 |
318.041 |
223.614 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
133.794 |
64.042 |
52.522 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and
Advances |
0.000 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
133.794 |
64.042 |
52.522 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
65.891 |
98.773 |
51.100 |
|
(c)
Trade receivables |
108.953 |
126.289 |
106.179 |
|
(d)
Cash and cash equivalents |
8.523 |
13.768 |
4.925 |
|
(e)
Short-term loans and advances |
27.649 |
12.949 |
6.024 |
|
(f)
Other current assets |
2.196 |
2.220 |
2.864 |
|
Total
Current Assets |
213.212 |
253.999 |
171.092 |
|
|
|
|
|
|
TOTAL |
347.006 |
318.041 |
223.614 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operation |
686.224 |
600.467 |
398.981 |
|
|
|
Other Income |
0.474 |
0.425 |
0.653 |
|
|
|
TOTAL (A) |
686.698 |
600.892 |
399.634 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
421.161 |
430.006 |
268.696 |
|
|
|
Purchase of Finished and Other products |
133.431 |
139.933 |
77.257 |
|
|
|
Changes In Inventories of Finished goods, Work in Progress |
32.882 |
(47.673) |
(7.073) |
|
|
|
Employee Benefit Expenses |
10.227 |
8.436 |
7.150 |
|
|
|
Other Expenses |
41.910 |
25.060 |
24.703 |
|
|
|
TOTAL (B) |
639.611 |
555.762 |
370.733 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
47.087 |
45.130 |
28.901 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
28.797 |
18.844 |
12.680 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
18.290 |
26.286 |
16.221 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
15.456 |
9.493 |
9.493 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.834 |
16.793 |
6.728 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.596 |
0.778 |
0.777 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.238 |
16.015 |
5.951 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded/ Consumable Goods |
Nil |
19.823 |
NA |
|
|
|
Capital Goods |
Nil |
4.808 |
NA |
|
|
TOTAL IMPORTS |
Nil |
24.631 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.10/- Each) |
|
|
|
|
|
|
-Basic Earnings Per Share |
0.70 |
4.97 |
1.85 |
|
|
|
-Diluted Earning Per Share |
0.70 |
4.97 |
1.85 |
|
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 |
CORPORATE INFORMATION:
Subject is a Public Limited Company incorporated in India under the
provision of the Companies Act’1956. The shares of the company are not listed
on any stock exchange. It was incorporated in the year 1993. It is engaged in
manufacturing parts for Indian Railway and Tata Motors Limited.
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
ADDRESS |
Service Request Number (SRN) |
|
1 |
10381313 |
17/09/2012 |
22,500,000.00 |
ALLAHABAD BANK |
MEERUT CANTT BRANCH, MALL ROAD, MEERUT, UTTAR PRADESH - 250001, INDIA |
B59989996 |
|
2 |
10381409 |
17/09/2012 |
60,000,000.00 |
ALLAHABAD BANK |
MEERUT CANTT BRANCH, MALL ROAD, MEERUT, UTTAR PRADESH - 250001, INDIA |
B60038122 |
|
3 |
10201172 |
12/01/2012 * |
183,372,000.00 |
Allahabad Bank |
MEERUT CANTT BRANCH, THE MALL, MEERUT CANTT, MEER |
B31066871 |
|
4 |
10201173 |
25/01/2010 |
28,906,000.00 |
ALLAHABAD BANK |
MEERUT CANTT BRANCH, MALL ROAD, MEERUT, UTTAR PRADESH - 250001, INDIA |
A78807294 |
|
5 |
10045035 |
23/06/2008 * |
53,000,000.00 |
VIJAYA BANK |
8, GOVINDPURI, MAIN ROAD, HARIDWAR, UTTARAKHAND - |
A43056951 |
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.60.05 |
|
|
1 |
Rs.101.32 |
|
Euro |
1 |
Rs.83.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.