MIRA
INFORM REPORT
|
Report Date : |
15.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
INSTITUTE OF ADVANCED SECURITY TRAINING
AND MANAGEMENT PRIVATE LIMITED (w.e.f. 03.10.2008) |
|
|
|
|
Formerly Known
As : |
ZICOM ADVANCED SECURITY TRAINING
ACADEMY PRIVATE LIMITED |
|
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|
|
Registered
Office : |
45, Chimbai
Road, Behind St. Andrews Church, Off Hill Road, Bandra (West), Mumbai –
400050, Maharashtra |
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2013 |
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|
Date of
Incorporation : |
02.04.2008 |
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Com. Reg. No.: |
11-180738 |
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Capital
Investment / Paid-up Capital : |
Rs. 79.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74920MH2008PTC180738 |
|
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|
|
PAN No.: [Permanent Account No.] |
AABCI9654A |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The company is engaged in providing high quality training programs
aimed at student education and corporate training and management services. |
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|
No. of Employees
: |
Information declined by the management. |
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 110000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The rating reflects weak financial risk profile marked by continuous
accumulated losses incurred over a year and below average financial
performance of the company. However, trade relations are fair. Business is active. Payment terms
are slow. The company can be considered for business dealings 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.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED BY
Management Non Co-operative
Contact No.: 91-22-26552217
LOCATIONS
|
Registered Office : |
45, Chimbai
Road, Behind St. Andrews Church, Off Hill Road, Bandra (West), Mumbai –
400050, Maharashtra, India |
|
Tel. No.: |
91-22-26552217 / 19 |
|
Mobile No.: |
91-93200 68837 (Mr. Kalyon Subbarao) 91-8691875557 (Kittu Sharma) |
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Fax No.: |
91-22-26552220 |
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E-Mail : |
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Website : |
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Branch : |
Located At · Dadar · Noida · Patna |
DIRECTORS
AS ON 27.09.2013
|
Name : |
Mr. Manohar Gopal Bidaye |
|
Designation : |
Director |
|
Address : |
1901/02, a Wing Oberoi Gardens, Thakur Village,
Kandivali (East), Mumbai – 400101, Maharashtra, India |
|
Date of Birth/Age : |
10.11.1963 |
|
Date of Appointment : |
02.04.2008 |
|
DIN No.: |
00010699 |
|
|
|
|
Name : |
Mr. Rathin Kumar Banerjee |
|
Designation : |
Director |
|
Address : |
Flat No. 203,
Anita Apartment, Pali Road, Bandra (West), Mumbai – 400050, Maharashtra, India |
|
Date of Birth/Age : |
17.07.1950 |
|
Date of Appointment : |
02.04.2008 |
|
DIN No.: |
02101072 |
KEY EXECUTIVES
|
Name : |
Mrs. Bharati NarendraKumar
Shah |
|
Designation : |
Secretory |
|
Address : |
B-102, Gokul Arcade, Gokul
Township, Agrawal Garden – 2, Agashi
Road, Virar (West), Mumbai – 401303 Maharashtra, India |
|
Date of Birth/Age : |
29.09.1979 |
|
Date of Appointment : |
15.05.2013 |
|
PAN No.: |
BJAPS2718F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2013
Equity Shares
|
Names of Shareholders |
|
No. of Shares |
|
Manohar Gopal Bidaye |
|
50000 |
|
Pramoud Vinay Kumar Rao |
|
50000 |
|
Baronet Properties and Investment Private Limited India |
|
245000 |
|
Coronet Properties and Investment Private Limited India |
|
235000 |
|
Zicom Electronic Security Systems Limited,
India |
|
120000 |
|
|
|
|
|
Total |
|
700000 |
Preferences Shares
|
Names of Shareholders |
|
No. of Shares |
|
Zicom Electronic Security Systems Limited,
India |
|
7250000 |
AS ON 27.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
85.72 |
|
Directors or relatives of Directors |
7.14 |
|
Other top fifty shareholders |
7.14 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in providing high quality training programs
aimed at student education and corporate training and management services. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
Not Available |
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Facilities : |
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Banking
Relations : |
- |
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Financial
Institutions: |
National Skill Development Corporation, D-4, Clarion Collection, Shaheed Jeet Singh Marg, New Delhi – 110016, Delhi, India |
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Auditors : |
|
|
Name : |
Thakur Naik and Deo Chartered Accountant |
|
Address : |
Shanti Cottage 2nd Floor, Above Suvidha
Stores O P P D R . Vedpathak
Hospital Gokhale Road, Thane-400602, Maharashtra, India |
|
PAN No.: |
AAAFT7201J |
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Fellow
Associate (FAC) : |
·
Zicom Electronic Security Systems Limited
[L32109MH1994PLC083391] ·
Unisafe Fire Protection
Specialists India Private Limited [U29193MH2008FTC182327] |
CAPITAL STRUCTURE
AS ON 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1300000 |
Equity Shares |
Rs.10/- each |
Rs. 13.000 Millions |
|
7250000 |
Preference Shares |
Rs.10/- each |
Rs. 72.500 Millions |
|
|
Total |
|
Rs. 85.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
700000 |
Equity Shares |
Rs.10/- each |
Rs.7.000 Millions |
|
7250000 |
Preference Shares |
Rs.10/- each |
Rs. 72.500 Millions |
|
|
Total |
|
Rs. 79.500 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 |
79.500 |
59.500 |
7.000 |
|
(b) Reserves & Surplus |
(54.044) |
(33.294) |
(18.129) |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
11.500 |
22.400 |
|
Total
Shareholders’ Funds (1) + (2) |
25.456 |
37.706 |
11.271 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
94.993 |
90.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
(25.478) |
(16.130) |
(8.292) |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.776 |
0.464 |
0.326 |
|
Total
Non-current Liabilities (3) |
70.291 |
74.334 |
(7.966) |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
3.000 |
0.000 |
|
(b) Trade payables |
5.757 |
2.409 |
1.520 |
|
(c) Other current liabilities |
4.219 |
0.977 |
1.440 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
9.976 |
6.386 |
2.960 |
|
|
|
|
|
|
TOTAL |
105.723 |
118.426 |
6.265 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
16.652 |
3.664 |
0.583 |
|
(ii) Intangible Assets |
15.642 |
0.227 |
0.000 |
|
(iii) Capital work-in-progress |
1.800 |
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 |
2.366 |
0.354 |
0.246 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
36.460 |
4.245 |
0.829 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
2.268 |
2.394 |
3.977 |
|
(d) Cash and cash equivalents |
54.615 |
111.667 |
1.398 |
|
(e) Short-term loans and
advances |
12.261 |
0.014 |
0.000 |
|
(f) Other current assets |
0.119 |
0.106 |
0.061 |
|
Total
Current Assets |
69.263 |
114.181 |
5.436 |
|
|
|
|
|
|
TOTAL |
105.723 |
118.426 |
6.265 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
|
16.554 |
6.974 |
5.897 |
|
|
Other Income |
|
|
|
|
|
TOTAL
|
16.554 |
6.974 |
5.897 |
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
Administrative Expenses |
43.782 |
29.155 |
17.084 |
|
|
Financial
Expenses |
|
|
|
|
|
Other expenses |
|
|
|
|
|
TOTAL
|
43.782 |
29.155 |
17.084 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(27.228) |
(22.181) |
(11.187) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
2.869 |
0.823 |
0.083 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(30.097) |
(23.004) |
(11.270) |
|
|
|
|
|
|
|
Less |
TAX
(I) |
(9.347) |
(7.838) |
(3.342) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(20.750) |
(15.166) |
(7.928) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(2.61) |
(1.91) |
-- |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(125.34) |
(217.46) |
(134.44) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(28.96) |
(19.42) |
(179.88) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.18) |
(0.61) |
(0.99) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.73
|
2.46 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.94 |
17.87 |
1.83 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
7.000 |
59.500 |
79.500 |
|
Reserves & Surplus |
(18.129) |
(33.294) |
(54.044) |
|
Share Application money pending
allotment |
22.400 |
11.500 |
0.000 |
|
Net
worth |
11.271 |
37.706 |
25.456 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
90.000 |
94.993 |
|
Short term borrowings |
0.000 |
3.000 |
0.000 |
|
Total
borrowings |
0.000 |
93.000 |
94.993 |
|
Debt/Equity
ratio |
0.000 |
2.466 |
3.732 |
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) |
|
Total Income |
5.897 |
6.974 |
16.554 |
|
|
|
18.264 |
137.367 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Total Income |
5.897 |
6.974 |
16.554 |
|
Profit After Tax |
(7.928) |
(15.166) |
(20.750) |
|
|
(134.44%) |
(217.46%) |
(125.35%) |
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 |
Yes |
|
5] |
Type of
Business |
Yes |
|
6] |
Line of
Business |
Yes |
|
7] |
Promoter's
background |
Yes |
|
8] |
No. of
employees |
No |
|
9] |
Name of
person contacted |
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 |
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
|
PARTICULAR |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans from Associates Company |
0.000 |
3.000 |
|
|
|
|
|
Total |
0.000 |
3.000 |
OPERATIONS AND PROSPECTS:
As can be seen
from the results above, during the year, the Company reported a post tax loss
of Rs. (20.750 Millions) as against Rs. (15.166 Millions) in the previous year, which is mainly
due to increase in finance cost, advertising, promotional and other
administrative expenses. Due to losses suffered by the Company, as well as
brought forward of losses from earlier years, the Directors do not recommend
any dividend for this financial year. Started as a humble beginning with a
vision to foster a secure environment in India by imparting world class
training and education in Security, Safety and Loss Prevention, today the
Company is fast emerging as a strong training provider in India partnering with
NSDC with its strong portfolio of upskilling and
vocational training programs focused on the domains of physical security,
electronic security and fire safety. The Company offers training programs and
engages in various segments like retail, government, corporates,
etc. The vocational courses offered by the Company ranges from certificate
courses to advanced courses, with a view to create a cadre of proficient and
multi-tasking security executives and security officers. The Company also has
vocational courses in electronic security to create certified installers and
service technicians as also for engineering students to prepare them for
multidisciplinary jobs in the electronic security industry.
During the year,
the Company launched Advanced Course in Fire Protection and Safety Management
for science and engineering graduates with opportunities for placement both in
India and abroad. Further during the year, your Company set-up additional
training centres on Pan-India basis. The training centres are well equipped facilitating quality training and
skill development. The Company has developed sector specific training programs
which are tailor-made to suit requirements of various industries segments.
Besides, the Company also runs special batches for guard trainings as per
requirements of large corporates.
The positive
business outlook should be supportive in unleashing opportunities for the
Company to leverage its training business. The Government segment will be a big
spender on skilling development and vocational
education with the students being assured of employment without paying any fees
for the training imparted. Several schemes are expected to be offered under Swarna Jayanti Shahari Rozgar Yogna (SJSRY), Tribal Department, National Rural Employment
Guarantee (NREG,) Ministry of Rural Development (MORD), etc. Collaboration with
the State Governments in various states such as Maharashtra,
Odisha, Madhya Pradesh, Tripura,
Rajasthan, Bihar, Uttar Pradesh will help generate large numbers for training
and employment. Further, collaboration with the right corporate partners in
various industry sectors like hotels, banks, industries, hospitals can also
catalyze the training business.
The Company is
closely working with various State Governments for participating in their skilling and employment schemes to train large numbers of
underprivileged and unemployed youth from economically backward districts and
get them employed as certified security guards with agencies and corporates. Such collaborative participation is in advanced
stages in states like Odisha, Maharashtra,
Rajasthan, Chattisgarh, Bihar, etc. All evaluations
and certification for such programs is carried out by a third party service
provider like the Security Knowledge and Skill Development Council (SKSDC).
The Company will
use its well designed and customized sector specific courses and programs to
garner strong business in the corporate segment. In joint coordination with the
Security Sector Skill Council, the Company is also poised to set up centres of excellence with state-of-the-art infrastructure
for imparting top quality security training in certain States. In its pursuit
for providing assured job placement to trained students, the Company has
tied-up with India’s several largest security agencies to absorb all trained
and certified students on Pan-India basis.
CORPORATE INFORMATION
Subject is a
private limited company domiciled in India and incorporated under the
provisions of the Companies Act, 1956.
VIEW INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10359110 |
18/01/2012 |
150,000,000.00 |
National Skill
Development Corporation |
D-4, Clarion
Collection,, Shaheed Jeet
Singh Marg |
B35819721 |
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.59.88 |
|
|
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.