MIRA
INFORM REPORT
|
Report Date : |
26.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SUNCROP LIEFSTYLES
LIMITED (w.e.f. 01.11.2010) |
|
|
|
|
Formerly Known
As : |
SUNCORP LIFESTYLES PRIVATE LIMITED |
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Registered
Office : |
H No. 6-2-953/A/106 and 107, 1st Floor, Kun Hyundal Show Room,
Krishna Plaza, Khairthabad, Hyderabad – 500004, Andhra Pradesh |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
04.07.2008 |
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Com. Reg. No.: |
01-59997 |
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Capital Investment
/ Paid-up Capital : |
Rs.167.750 Millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U74999AP2008PLC059997 |
|
|
|
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TAN No.: [Tax Deduction &
Collection Account No.] |
HYDS24268G |
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|
|
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PAN No.: [Permanent Account No.] |
AAMCS1720L |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is operates a franchisee (under buy/sell model) of the branded
lifestyle apparels and sports products. |
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|
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 satisfactory track record. General financial position of the company seems to sound and healthy.
Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
January 20, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term rating |
|
Rating Explanation |
Moderate degree of safety and high credit
risk. |
|
Date |
January 20, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
H No. 6-2-953/A/106 and 107, 1st Floor, Kun Hyundal Show Room,
Krishna Plaza, Khairthabad, Hyderabad – 500004, Andhra Pradesh, India |
|
Tel. No. : |
91-40-66742626 |
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Fax No. : |
91-40-66742626 |
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E-Mail : |
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Website : |
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Retail Store : |
Located At: ¨ Tamilnadu ¨ Karnataka ¨ Andhra Pradesh ¨ Kerala ¨ Maharashtra |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Srinivas Rao Kattekola |
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Designation : |
Whole-time Director |
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Address : |
6-3-1085/1 and 1089/3, Block-II, Flat no. 302, alpine Heights,
Rajbhavan Road, Somajiguda, Hyderabad – 500082, Andhra Pradesh, India |
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Date of Birth/Age : |
14.07.1962 |
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Date of Appointment : |
10.04.2013 |
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DIN No. : |
00052090 |
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Other Directorship :
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Name : |
Rama Mohanrao Koppuravuri |
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Designation : |
Whole-time Director |
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Address : |
H. No. 1-9-689/1087, Plot-105A, Naik Sirisampada Apartment,
Vidyanagar, OU Road, Hyderabad – 500007, Andhra Pradesh, India |
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Date of Birth/Age : |
11.06.1950 |
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Date of Appointment : |
10.04.2013 |
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DIN No. : |
01920370 |
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Other Directorship :
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Name : |
Ms. Hema Venkata Kumara Swamy Sadu |
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Designation : |
Whole-time Director |
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Address : |
202, Siriraj Avenue, Mallikajuna Colony, Old Bowenpally, Secunderabad
– 500011, Andhra Pradesh, India |
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Date of Birth/Age : |
20.09.1957 |
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Date of Appointment : |
10.04.2013 |
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DIN No. : |
02190857 |
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Other Directorship :
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Name : |
Mr. Ramesh Sunku |
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Designation : |
Managing Director |
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Address : |
P no. 7, piya Cly, Phase 1, Kakaguda, Secunderabad – 500015, Andhra
Pradesh, India |
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Date of Birth/Age : |
01.06.1961 |
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Date of Appointment : |
10.04.2013 |
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DIN No. : |
02209265 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
R V Radha Krishna |
|
Designation : |
Secretary |
|
Address : |
Flat no. 104, Aakruti Avenue, street no. 4, Czeeh Colony, Sanathnagar,
Hyderabad – 500018, Andhra Pradesh, India |
|
Date of Birth/Age : |
01.08.1972 |
|
Date of Appointment : |
16.07.2011 |
|
PAN No.: |
AFPPR5367F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
As on 13.09.2013
|
Name of Allottee
|
No of shares |
|
KNV Harsha
Vardhan |
50032 |
|
M V K Sunil Kumar |
647617 |
|
S. Lakshmi |
5370 |
|
SHV Kumara Swamy |
49336 |
|
Athni Vempati |
64423 |
|
Koppuravuri Srinivas Rao |
8072 |
|
K. Appa Rao |
41174 |
|
S. Ramesh |
909107 |
|
A.V. Lakshmi |
134894 |
|
K. Parvathi |
65597 |
|
S. Rani |
24378 |
|
|
|
|
Total |
2000000 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
0.02 |
|
Directors or relatives of Directors |
62.92 |
|
Other top fifty shareholders |
15.91 |
|
Others |
21.15 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is operates a franchisee (under buy/sell model) of the branded
lifestyle apparels and sports products. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
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Bankers : |
· Axis Bank Limited 5-2-183/184, III Floor, Axis Bank Limited, RP Road, Hyderabad - 500003, Andhra Pradesh, India · State Bank Of India, Mid-Corporate Group,Overseas Branch, 2 and 3 Floor, Rajala Centre, Plot 241/A, Road No 36, Jubilee Hills, Hyderabad - 500033, Andhra Pradesh, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S N K and Associates Chartered Accountants |
|
Address : |
# 3-5-612 , Vittalwadi, Himayathnagar, Hyderabad – 500029, Andhra Pradesh India |
|
PAN
No. : |
AAAFS4111R |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29000000 |
Equity Shares |
Rs.10/- each |
Rs.290.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16774980 |
Equity Shares |
Rs.10/- each |
Rs.167.750 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 |
167.750 |
167.750 |
157.750 |
|
(b) Reserves & Surplus |
469.148 |
309.094 |
157.238 |
|
(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) |
636.898 |
476.844 |
314.988 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
481.214 |
472.959 |
273.473 |
|
(b) Deferred tax liabilities (Net) |
25.930 |
24.030 |
11.790 |
|
(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) |
507.144 |
496.989 |
285.263 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
854.577 |
778.857 |
271.706 |
|
(b) Trade payables |
58.922 |
35.143 |
248.774 |
|
(c) Other current
liabilities |
100.464 |
72.445 |
20.610 |
|
(d) Short-term provisions |
85.001 |
47.581 |
32.795 |
|
Total Current Liabilities (4) |
1098.964 |
934.026 |
573.885 |
|
|
|
|
|
|
TOTAL |
2243.006 |
1907.859 |
1174.136 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
384.574 |
400.870 |
274.409 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
35.889 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
20.000 |
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 |
197.699 |
225.402 |
116.041 |
|
Total Non-Current Assets |
602.273 |
626.272 |
426.339 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
877.624 |
874.455 |
653.150 |
|
(c) Trade receivables |
607.750 |
305.951 |
1.207 |
|
(d) Cash and cash
equivalents |
7.800 |
12.994 |
18.000 |
|
(e) Short-term loans and
advances |
147.559 |
88.187 |
75.440 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
1640.733 |
1281.587 |
747.797 |
|
|
|
|
|
|
TOTAL |
2243.006 |
1907.859 |
1174.136 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4359.543 |
2640.753 |
1368.153 |
|
|
|
Other Income |
274.015 |
359.711 |
64.696 |
|
|
|
TOTAL |
4633.558 |
3000.464 |
1432.849 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
3788.878 |
2523.074 |
1395.459 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(3.169) |
(221.305) |
(352.707) |
|
|
|
Employees benefits expense |
151.054 |
128.144 |
79.060 |
|
|
|
Other expenses |
274.869 |
228.835 |
132.626 |
|
|
|
TOTAL |
4211.632 |
2658.748 |
1254.438 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
421.926 |
341.716 |
178.411 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
169.154 |
158.289 |
72.751 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
252.772 |
183.427 |
105.660 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
37.708 |
30.131 |
18.738 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
215.064 |
153.296 |
86.922 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
55.011 |
51.440 |
29.243 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
160.053 |
101.856 |
57.679 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
Basic |
9.54 |
6.07 |
3.66 |
|
|
|
Diluted |
9.54 |
6.44 |
8.58 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.45 |
3.39 |
4.03 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.93 |
5.81 |
6.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.67 |
8.03 |
7.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34 |
0.32 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.10 |
2.63 |
1.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.49 |
1.37 |
1.30 |
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 |
157.750 |
167.750 |
167.750 |
|
Reserves & Surplus |
157.238 |
309.094 |
469.148 |
|
Net
worth |
314.988 |
476.844 |
636.898 |
|
|
|
|
|
|
long-term borrowings |
273.473 |
472.959 |
481.214 |
|
Short term borrowings |
271.706 |
778.857 |
854.577 |
|
Total
borrowings |
545.179 |
1251.816 |
1335.791 |
|
Debt/Equity
ratio |
1.731 |
2.625 |
2.097 |
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 |
1368.153 |
2640.753 |
4359.543 |
|
|
|
93.016 |
65.087 |
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 |
1368.153 |
2640.753 |
4359.543 |
|
Profit |
57.679 |
101.856 |
160.053 |
|
|
4.22% |
3.86% |
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 |
No |
|
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 |
No |
|
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 |
Yes |
NOTE:
The registered address of the company has been shifted from 201,
6-3-901/1, Zamarud Rajbhavan Road, Somajiguda, Hyderabad – 500082, Andhra
Pradesh, India w.e.f. 01.04.2010
UNSECURED LOAN
|
PARTICULAR |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
Rupee term loans from others |
345.720 |
|
|
|
|
Total |
345.720 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10477140 |
27/12/2013 |
1,419,000.00 |
Axis Bank Limited |
5-2-183/184, III floor, Axis bank limited, RP ROAD, Hyderabad, Andhra
Pradesh - 500003, INDIA |
B96167853 |
|
2 |
10287905 |
23/09/2013 * |
1,487,400,000.00 |
STATE BANK OF INDIA |
Mid-Corporate Group,Overseas Branch, 2 & 3 Floor, Rajala Centre,
Plot 241/A, Rd No 36, Jubilee Hills, Hyderabad, Andhra Pradesh - 500033,
INDIA |
B85904340 |
* Date of charge modification
CORPORATE INFORMATION
Primarily the unit commenced it operations in the year 2007 as a Partnership Firm in the name and style of Sun Corporation with a view to establish the retail stores to sell the branded Apparel Footwear Fitness equipment Accessories etc.. The name of the Firm altered to Suncorp Lifestyles in the year 2008. On 4th July, 2008 the erstwhile registered Firm M/s. Suncorp Lifestyles converted to Private Limited Company under Part IX of the Companies Act 1956 (No. 1 of 1956) in the name and style of Suncorp Lifestyles Private Limited. In terms of Section 31/ 21 read with Section 44 of the Companies Act 1956 the name of the company is changed to Subject with effect from 1st November 2010. Pursuant to Section 23 (1) of the said Act a Fresh Certificate is issued by the Registrar of Companies Andhra Pradesh Hyderabad.
FIXED ASSETS
œ Furniture and Fixtures
œ Office Equipment
œ Computer Equipments
œ Vehicles
œ Plant and Equipment
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.58.48 |
|
|
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.79.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
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 |
|
46 |
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.