MIRA INFORM REPORT
|
Report Date : |
06.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHREE BAJRANG SALES PRIVATE LIMITED |
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Registered
Office : |
Flat No. 101, “Maa Ashish” Apartment, Mahalaxmi Temple Line, Mumbai –
400026, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
05.01.1989 |
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Com. Reg. No.: |
11-050265 |
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Capital
Investment / Paid-up Capital : |
Rs.8.503
Millions |
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|
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CIN No.: [Company Identification
No.] |
U51900MH1989PTC050265 |
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TIN No.: |
27080002620 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
NGPB00121C |
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PAN No.: [Permanent Account No.] |
AAECS0955M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Ores, Minerals,
Metals, Ferro Alloys and Non Ferro Alloys. |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 310000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial
risk profile and thin profitability levels of the company. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some caution. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachshas 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.2453.2 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.
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. Ashish Bharatiya |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-9422102641 |
LOCATIONS
|
Registered Office : |
Flat No. 101, “Maa Ashish” Apartment, Mahalaxmi Temple Line, Mumbai –
400026, Maharashtra, India |
|
Tel. No.: |
91-712-2725884 |
|
Mobile No.: |
91-9422102641 (Mr. Ashish) |
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Fax No.: |
91-712-2721984 |
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E-Mail : |
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Area : |
950 sq. ft. |
|
Location : |
Owned |
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|
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Factory : |
20, New Cotton Market, Nagpur – 440018, Maharashtra, India |
|
Tel. No.: |
91-712-2725884 / 6666555 |
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Fax No.: |
91-2721484 |
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Area : |
10000 sq.ft |
|
Location : |
Owned |
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Branch 1 : |
Arva Rice Mill, Mithumuda, Raigarh, Chhattisgarh – 496001, India |
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E-Mail : |
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Branch 2 : |
Ring Road No. 1, Shaheed Bhagat Singh Ward No. 13, 1st
Lane, Plot No. 103, Tatibandh Transport Nagar, Raipur – 492010, India |
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Branch 3 : |
X-49, MIDC Industrial Estate, Hingna Road, Nagpur – 440016,
Maharashtra, India |
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Branch 4 : |
Plot No. 65, Survey No. 70-72, Sanjeeviah Nagar Co-op House Building
Society Limited, Thokatta, Secunderabad, Bowenpally, Hyderabad Urban, Andhra
Pradesh – 500011, India |
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Branch Offices : |
Located At:
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DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Santkumar Bhartia |
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|
Designation : |
Managing Director |
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Address : |
Sarswati, Khare Town, Dharmpeth, Nagapur – 440010, Maharashtra, India |
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Date of Appointment : |
01.12.1991 |
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DIN No.: |
00432335 |
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Name : |
Mr. Devendra Bhartia |
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Designation : |
Director |
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Address : |
Plot No. 8A, Law College, 204 Sarita Co-op. Housing Society Chourasta,
Nagpur – 440010, Maharashtra, India |
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|
Date of Appointment : |
01.09.2004 |
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DIN No.: |
00432429 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Ashish Bharatiya |
|
Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders (Equity) |
|
No. of Shares |
|
Laxminarayan
Chaturbhuj Bhartia |
|
1800 |
|
Devendra
Chaturbhuj Bhartia |
|
13995 |
|
Harsh
Santkumar Bhartia |
|
2295 |
|
Preeti
Devendra Bhartia |
|
2295 |
|
Reeti
Devendra Bhartia |
|
2295 |
|
Ekta
Jagdamba Bhartia |
|
2295 |
|
Radhika
Yudhisthir Bhartia |
|
2295 |
|
Vidhi
Surendra Bhartia |
|
2295 |
|
Jagdambaprasad
Chaturbhuj Bhartia |
|
45 |
|
Santkumar
C. Bhartia |
|
45 |
|
Surendra
Chaturbhuj Bhartia |
|
14850 |
|
Yudhisthir
Chaturbhuj Bhartia |
|
90 |
|
Tarun
Chaturbhuj Bhartia |
|
13500 |
|
Balkrishna
Chaturbhuj Bhartia |
|
45 |
|
Sudhir
Laxminarayan Bhartia |
|
45 |
|
Samir
Laxminarayan Bhartia |
|
45 |
|
Usha
Laxminarayan Bhartia |
|
45 |
|
Smt
Renu Santkumar Bhartia |
|
45 |
|
Smt.
Shashi Yudhisthir Bhartia |
|
45 |
|
Annapurna
Pradumna Thakar |
|
45 |
|
Rukmani
Dulhanoomal Narwani |
|
45 |
|
Meena
Surendra Bhartia |
|
45 |
|
Kuhu
Tarun Bhartia |
|
495 |
|
Aparna
Balkrishna Bhartia |
|
2295 |
|
Vidhan
Surendra Bhartia |
|
2295 |
|
Rahul
Yudhisthir Bhartia |
|
2295 |
|
Nikunj
Devendra Bhartia |
|
2295 |
|
Nikhil
Devendra Bhartia |
|
2295 |
|
Juhi
Jagdamba Prasad Bhartia |
|
2295 |
|
Ashish
Santkumar Bhartia |
|
2295 |
|
Swati
Balkrishna Bhartia |
|
2295 |
|
Ayush
Santkumar Bhartia |
|
2295 |
|
Chetan
Jagdamba Prasad Bhartia |
|
2295 |
|
Shardadevi
Devendra Bhartia |
|
45 |
|
Bharatbhushan
Babulal Mehadia |
|
450 |
|
Gitadevi
Ghanshamdas Vyas |
|
45 |
|
Nikhilesh
Pradyumna Thakar |
|
45 |
|
Seema
Nikhilesh Thakar |
|
450 |
|
Rita
Sudhir Bhartia |
|
45 |
|
Total |
|
83025 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Ores, Minerals,
Metals, Ferro Alloys and Non Ferro Alloys. |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit (30 Days and 60 Days) |
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Purchasing : |
Cash and Credit (30 Days and 60 Days) |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
· Industrial Development Bank of India Limited, Sitabuldi Branch, Shewalkar Building, Jhashi Rani Square, Sitabuldi, Nagpur - 440012, Maharashtra, India
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Jain Bhartia and Associates Chartered Accountants |
|
Address : |
77, Sadoday Complex, C A Road, Nagpur – 440002, Maharashtra, India |
|
PAN No.: |
AACFJ7530L |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90000 |
Equity Share |
Rs.100/- each |
Rs.9.000 Millions |
|
10000 |
Preference Share |
Rs.100/- each |
Rs.1.000 Million |
|
|
Total |
|
Rs.10.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
83025 |
Equity Share |
Rs.100/- each |
Rs.8.303
Millions |
|
2000 |
Preference Share |
Rs.100/- each |
Rs.0.200
Million |
|
|
Total |
|
Rs.8.503 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 |
8.503 |
8.503 |
8.503 |
|
(b) Reserves & Surplus |
69.097 |
67.751 |
66.699 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
77.600 |
76.254 |
75.202 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
152.953 |
157.976 |
92.226 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
152.953 |
157.976 |
92.226 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
38.338 |
30.182 |
33.606 |
|
(b) Trade
payables |
90.839 |
72.251 |
26.474 |
|
(c) Other current
liabilities |
0.923 |
1.803 |
45.668 |
|
(d) Short-term
provisions |
0.170 |
0.170 |
0.057 |
|
Total Current
Liabilities (4) |
130.270 |
104.406 |
105.805 |
|
|
|
|
|
|
TOTAL |
360.823 |
338.636 |
273.233 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
37.997 |
36.917 |
36.753 |
|
(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 |
32.812 |
30.495 |
29.121 |
|
(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 |
0.437 |
0.273 |
0.461 |
|
Total Non-Current
Assets |
71.246 |
67.685 |
66.335 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
84.749 |
77.444 |
56.207 |
|
(c) Trade
receivables |
176.764 |
174.291 |
123.229 |
|
(d) Cash
and cash equivalents |
8.994 |
3.848 |
9.795 |
|
(e)
Short-term loans and advances |
12.992 |
9.937 |
0.000 |
|
(f) Other
current assets |
6.078 |
5.431 |
17.667 |
|
Total
Current Assets |
289.577 |
270.951 |
206.898 |
|
|
|
|
|
|
TOTAL |
360.823 |
338.636 |
273.233 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
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SALES |
|
|
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||
|
|
|
Income |
|
|
485.936 |
|
|
|
|
Other Income |
|
|
0.401 |
|
|
|
|
TOTAL (A) |
511.471 |
836.080 |
486.337 |
|
|
|
|
|
|
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||
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EXPENSES |
|
|
|
||
|
|
|
Purchases |
|
|
477.997 |
|
|
|
|
Cost of Material Consumed |
|
|
2.253 |
|
|
|
|
Increase / Decrease in stock |
|
|
(27.331) |
|
|
|
|
Processing Expenses |
|
|
0.050 |
|
|
|
|
Power |
|
|
0.379 |
|
|
|
|
Payment and Provisions to Employee |
|
|
2.567 |
|
|
|
|
Marketing and Distribution Expenses |
|
|
2.208 |
|
|
|
|
I.S.I Royalty |
|
|
0.498 |
|
|
|
|
Taxes and Insurance |
|
|
9.863 |
|
|
|
|
Administrative Expenses |
|
|
9.977 |
|
|
|
|
TOTAL (B) |
510.982 |
835.570 |
478.461 |
|
|
|
|
(Including
Finance and depreciation expenses) |
(Including
Finance and depreciation expenses) |
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
7.876 |
||
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|
|
|
|
|
||
|
|
FINANCIAL
EXPENSES (D) |
|
|
6.769 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
1.108 |
||
|
|
|
|
|
|
||
|
|
DEPRECIATION/
AMORTISATION (F) |
|
|
1.029 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
0.486 |
0.489 |
0.079 |
||
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|
|
|
|
|
||
|
|
TAX (H) |
0.180 |
0.170 |
0.024 |
||
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|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
0.306 |
0.319 |
0.055 |
||
|
|
|
|
|
|
||
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3.166 |
2.847 |
2.792 |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
3.472 |
3.166 |
2.847 |
||
|
|
|
|
|
|
||
|
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IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
0.000 |
0.000 |
22.000 |
|
|
|
TOTAL IMPORTS |
0.000 |
0.000 |
22.000 |
||
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|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
3.60 |
NA |
0.01 |
||
Expected Sales: Rs.600.000 Millions
Above information has been parted by Mr. Ashish Bharatiya (Chief
Executive Officer)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.06 |
0.04 |
0.01 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.15 |
0.16 |
0.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.01 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.47 |
2.47 |
1.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.22 |
2.60 |
1.96 |
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 |
8.503 |
8.503 |
8.503 |
|
Reserves & Surplus |
66.699 |
67.751 |
69.097 |
|
Net
worth |
75.202 |
76.254 |
77.600 |
|
|
|
|
|
|
long-term borrowings |
92.226 |
157.976 |
152.953 |
|
Short term borrowings |
33.606 |
30.182 |
38.338 |
|
Total
borrowings |
125.832 |
188.158 |
191.291 |
|
Debt/Equity
ratio |
1.673 |
2.468 |
2.465 |
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 |
|
Total
Income |
486.337 |
836.080 |
511.471 |
|
|
|
71.914 |
-38.825 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total
Income |
486.337 |
836.080 |
511.471 |
|
Profit |
0.055 |
0.319 |
0.306 |
|
|
0.01% |
0.04% |
0.06% |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Form directors |
2.092 |
1.872 |
|
From share
holders |
18.879 |
89.396 |
|
Form others |
67.469 |
0.000 |
|
From corporate
bodies |
37.540 |
38.564 |
|
Total |
125.980 |
129.832 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90237684 |
14/09/2012 * |
100,000,000.00 |
IDBI
Bank Limited |
Sme Centre,
1st Floor, Sanskrutik Sankul, Jhansi Rani Square, Sitabuldi, Nagpur,
Maharashtra - 440012, India |
B59360008 |
|
2 |
90213874 |
12/09/2012 * |
100,000,000.00 |
IDBI
Bank Limited |
Sme Centre,
1st Floor, Sanskrutik Sankul, Jhansi Rani Square, Sitabuldi, Nagpur,
Maharashtra - 440012, India |
B59360917 |
|
3 |
90237028 |
01/10/1996 * |
500,000.00 |
The
United Western Sahakari Bank Limited |
Sitabuldi
Branch, Variety Squre, Nagpur, Maharashtra, India |
- |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.60.05 |
|
|
1 |
Rs.101.32 |
|
Euro |
1 |
Rs.83.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
32 |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NB |
NEW BUSINESS |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.