MIRA
INFORM REPORT
|
Report Date : |
19.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SARA SUOLE PRIVATE LIMITED |
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|
|
|
Formerly Known
As : |
SARA SOULE PRIVATE LIMITED |
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|
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|
Registered
Office : |
Survey No.62, Site No.13, 6th Cross, N.S. Palya, BTM
Layout, Bangalore-560076, Karnataka |
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|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
26.04.2001 |
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|
|
|
Com. Reg. No.: |
08-028955 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.51.955
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U19119KA2001PTC028955 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS05222A |
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|
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PAN No.: [Permanent Account No.] |
AAFCS4682N |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Leather Soles and Shoes. |
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|
|
|
No. of Employees : |
2000 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1603200 |
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|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record. Financial position of the company seems to be decent. Trade relation are reported to be fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered for business dealing at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
CRISIL |
|
Rating |
BB – [Long Term - Suspended] |
|
Rating Explanation |
Have moderate risk of default very high credit risk. |
|
Date |
30.04.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
BB – [Long Term - Suspended] |
|
Rating Explanation |
Have moderate risk of default very high credit risk. |
|
Date |
30.04.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Kamraj |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-80-49072800 |
|
Date : |
14.05.2014 |
LOCATIONS
|
Registered Office : |
Survey No. 62, Site No.13, 6th Cross, N.S. Palya, BTM Layout,
Bangalore-560076, Karnataka, India |
|
Tel. No.: |
91-80-49072800 / 28429804 / 28429381 / 28429377 / 28429300 / 22722618 |
|
Fax No.: |
91-80-49072899 / 28429781 |
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E-Mail : |
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|
Website : |
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|
Area : |
20000 Sq. Ft. |
|
Location : |
Owned |
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|
Factory 1 : |
Survey No. 192/1, 192/2, 193/3, C K Palya, Sakalavara Post,
Bannerghatta Road, Bangalore, Karnataka, India |
|
Area : |
53000 Sq. Ft. |
|
Location : |
Rented |
|
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|
|
Factory 2 : |
Survey No. 187/3, 187/4, C K Palya, Sakalavara Post, Bannerghatta
Road, Bangalore, Karnataka, India |
|
Tel. No.: |
91-80-28429804 / 28429381 / 28429377 / 28429300 |
|
Fax No.: |
91-80-28429844 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Kayum Razak Dhanani |
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Designation : |
Managing Director |
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|
Address : |
65, 4th Cross, 36A Main BTM, 1 Stage Dollar Scheme,
Bangalore-560068, Karnataka, India |
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Date of Birth/Age : |
07.05.1972 |
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Date of Appointment : |
30.03.2005 |
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DIN No.: |
00987597 |
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Other Directorship:
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Name : |
Ms. Bipasha Pal |
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Designation : |
Director |
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|
Address : |
65, 4th Cross, 36A Main BTM, 1 Stage Dollar Scheme,
Bangalore-560068, Karnataka, India |
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Date of Birth/Age : |
30.08.1966 |
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Date of Appointment : |
26.04.2001 |
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DIN No.: |
00904266 |
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Other Directorship:
|
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|
Name : |
Mr. Paveet Amin Girishbhai |
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|
Designation : |
Additional Director |
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|
Address : |
187/04, CK Palya Sakalavara Post , Bangalore-560083, Karnataka,
India |
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|
Date of Birth/Age : |
03.02.1972 |
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Date of Appointment : |
16.08.2011 |
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DIN No.: |
03570893 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Kamraj |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Bipasha Pal |
97400 |
1.87 |
|
Kayum Razak Dhanani |
2957599 |
56.93 |
|
Nasreen Yusuf Dhanani |
2140571 |
41.20 |
|
|
|
|
|
TOTAL
|
5195570 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Leather Soles and Shoes. |
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|
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Exports : |
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|
Products : |
Leather Soles and Shoes |
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Countries : |
·
Europe ·
Middle East ·
Asian County ·
Far East ·
USA ·
UK ·
Switzerland |
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Imports : |
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Products : |
Raw Materials |
|
Countries : |
·
Europe ·
Australia ·
South Africa ·
Indonesia ·
Argentina |
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Terms : |
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Selling : |
Cash and Advance Payment |
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Purchasing : |
Cash and Advance Payment |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
Soles |
In Paris |
2100000 |
2100000 |
|
Shoes |
In Paris |
1200000 |
1200000 |
GENERAL INFORMATION
|
Customers : |
Wholesalers |
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No. of Employees : |
2000 [Approximately] |
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Bankers : |
·
State Bank of Mysore, Srinagar Shopping Complex,
M G Road, Bangalore - 560001, Karnataka, India ·
State Bank of Travankore, MM Hills Vartha Bhavan,
Tippu Sultan Palace Road, Chamarajpet, Bangalore - 560018, Karnataka, India ·
ING Vysya Bank Limited, 22, Ground, Floor, ING
Vysya House, M.G. Road, Bangalore - 560001, Karnataka, India ·
State Bank of Mysore, MID Corporate Central
Processing Centre, SBM Head Office, K G Road, Bangalore - 560009, Karnataka,
India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Ishwar and
Gopals Chartered Accountant |
|
Address : |
Sri Vinayaka
Building, NO. 21/3, T.S.P Road, Kalasipalyam, Bangalore-560002, Karnataka,
India |
|
PAN No: |
AAAFI2474E |
|
|
|
|
Associate : |
Name: Welterman
International Limited Address: Vadodara,
Gujarat, India Line of
Business: Manufacturer and Exporter of Leather Soles and Shoes. |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5195570 |
Equity Shares |
Rs.10/- each
|
Rs.51.955
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 |
51.955 |
47.789 |
47.789 |
|
(b) Reserves &
Surplus |
348.846 |
233.782 |
178.495 |
|
(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) |
400.801 |
281.571 |
226.284 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
33.999 |
45.467 |
33.461 |
|
(b) Deferred tax
liabilities (Net) |
1.912 |
2.362 |
3.117 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
10.605 |
8.075 |
0.000 |
|
Total Non-current
Liabilities (3) |
46.516 |
55.904 |
36.578 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
755.214 |
648.222 |
278.230 |
|
(b) Trade payables |
273.949 |
224.841 |
196.561 |
|
(c) Other current liabilities |
87.767 |
89.179 |
54.767 |
|
(d) Short-term provisions |
24.663 |
1.516 |
8.041 |
|
Total Current Liabilities
(4) |
1141.593 |
963.758 |
537.599 |
|
|
|
|
|
|
TOTAL |
1588.910 |
1301.233 |
800.461 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
180.346 |
132.756 |
127.551 |
|
(ii) Intangible Assets |
2.208 |
1.682 |
0.000 |
|
(iii) Capital
work-in-progress |
0.493 |
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 |
147.017 |
124.332 |
104.963 |
|
(e) Other Non-current
assets |
5.393 |
5.455 |
0.000 |
|
Total Non-Current Assets |
335.457 |
264.225 |
232.514 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
714.350 |
474.763 |
349.947 |
|
(c) Trade receivables |
184.092 |
267.486 |
128.030 |
|
(d) Cash and cash
equivalents |
85.302 |
158.132 |
18.435 |
|
(e) Short-term loans and
advances |
268.972 |
135.681 |
70.220 |
|
(f) Other current assets |
0.737 |
0.946 |
1.315 |
|
Total Current Assets |
1253.453 |
1037.008 |
567.947 |
|
|
|
|
|
|
TOTAL |
1588.910 |
1301.233 |
800.461 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Services |
2565.961 |
1913.011 |
1376.152 |
|
|
|
Miscellaneous Income |
9.011 |
3.231 |
25.033 |
|
|
|
TOTAL (A) |
2574.972 |
1916.242 |
1401.185 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
147.717 |
91.462 |
42.595 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
27.996 |
23.637 |
19.162 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
94.231 |
55.286 |
40.133 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
94.231 |
55.286 |
117.946 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1949.651 |
1495.177 |
992.997 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
420.518 |
156.123 |
107.595 |
|
|
|
Consumables |
18.841 |
14.248 |
28.803 |
|
|
|
Stores & Spares |
12.396 |
9.361 |
7.305 |
|
|
|
Capital Goods |
17.547 |
7.821 |
24.245 |
|
|
TOTAL IMPORTS |
469.302 |
187.553 |
167.948 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
18.14 |
-- |
8.40 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover [Approximately] |
|
|
3200.000 |
Expected Sales (2014-15) : Rs.4850.000 Millions.
The above information has been parted by Mr. Kamraj.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.66 |
2.89 |
2.86 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.97 |
2.46 |
1.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10 |
1.08 |
1.06 |
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 |
47.789 |
47.789 |
51.955 |
|
Reserves & Surplus |
178.495 |
233.782 |
348.846 |
|
Net worth |
226.284 |
281.571 |
400.801 |
|
|
|
|
|
|
long-term borrowings |
33.461 |
45.467 |
33.999 |
|
Short term borrowings |
278.230 |
648.222 |
755.214 |
|
Total borrowings |
311.691 |
693.689 |
789.213 |
|
Debt/Equity ratio |
1.377 |
2.464 |
1.969 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
1376.152 |
1913.011 |
2565.961 |
|
|
|
39.012 |
34.132 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
1376.152 |
1913.011 |
2565.961 |
|
Profit |
40.133 |
55.286 |
94.231 |
|
|
2.92% |
2.89% |
3.67% |
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 |
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 |
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10480247 |
02/01/2014 |
40,000,000.00 |
ING VYSYA BANK LIMITED |
22,GROUND FLOOR, ING VYSYA
HOUSE, M.G.ROAD, BANGALORE - 560001, Karnataka, INDIA |
B97450175 |
|
2 |
10449061 |
30/01/2014 * |
1,723,400,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, 1ST
FLOOR, KRISHI BHAVAN, HUD |
C00424473 |
|
3 |
10442146 |
18/06/2013 |
350,000,000.00 |
ING VYSYA BANK LIMITED |
22,GROUND FLOOR, ING
VYSYA HOUSE, M.G.ROAD, BANGALORE - 560001, Karnataka, INDIA |
B81743668 |
|
4 |
10374019 |
10/07/2012 |
45,000,000.00 |
STATE BANK OF TRAVANAKORE |
MM HILLS VARTHA BHAVAN,
TIPPU SULTAN PALACE ROAD, |
B57062663 |
|
5 |
10373468 |
06/07/2012 |
25,000,000.00 |
STATE BANK OF MYSORE |
MID CORPORATE PROCESSING
CENTRE, GROUND FLOOR HEA |
B56792518 |
|
6 |
10307123 |
27/03/2013 * |
580,000,000.00 |
STATE BANK OF INDIA |
SPECIALISED COMMERCIAL
BRANCH,, KRISHI BHAVAN, HU |
B75735795 |
|
7 |
10265864 |
20/12/2010 |
23,000,000.00 |
STATE BANK OF TRAVANCORE |
BANGALORE CITY BRANCH, M
M HILLS VARTHA BHAVAN, T |
B05942701 |
|
8 |
10239432 |
04/08/2010 |
15,000,000.00 |
STATE BANK OF MYSORE |
22,GROUND FLOOR, ING
VYSYA HOUSE, M.G.ROAD, BANGALORE - 560001, Karnataka, INDIA |
A94013026 |
|
9 |
10239431 |
04/08/2010 |
30,000,000.00 |
STATE BANK OF MYSORE |
22,GROUND FLOOR, ING VYSYA
HOUSE, M.G.ROAD, BANGALORE - 560001, Karnataka, INDIA |
A94012523 |
|
10 |
10263593 |
20/03/2012 * |
810,000,000.00 |
STATE BANK OF MYSORE |
MID CORPORATE CENTRAL
PROCESSING CENTRE, SBM HEAD |
B39346374 |
* Date of charge modification
|
Unsecured Loan |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Short Term
Borrowings |
|
|
|
Loans repayable on demand from others |
10.737 |
6.302 |
|
Loans repayable on demand from banks |
12.612 |
7.821 |
|
TOTAL
|
23.349 |
14.123 |
FIXED ASSETS:
·
Plant and Machinery
·
Building
·
Office Equipments
·
Electrical Equipment
·
Computer
·
Furniture and Fixtures
·
Vehicles
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.58.86 |
|
|
1 |
Rs.98.82 |
|
Euro |
1 |
Rs.80.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.