MIRA INFORM REPORT
|
Report Date : |
04.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHREE SHYAM PULP AND BOARD MILLS LIMITED |
|
|
|
|
Registered
Office : |
A-257, Road No. 6, Mahipalpur Extension NH-8, New Delhi - 110037 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
14.07.1994 |
|
|
|
|
Com. Reg. No.: |
55-060237 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.553.414 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1994PLC060237 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of writing and printing paper. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 14000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having moderate track. Management has failed to file the latest financials of FYF14, with the
statutory authorities. As per available, the company possesses a moderation in its financial
profile marked by the debt funded capacity expansion done by the company
which has resulted in relatively high gearing levels and moderate debts
protection metrics. Moreover, the business undergoes working capital intensive operation
due to high inventory and receivable days which may affect the liquidity
profile during FY 13. Management has witnessed a decent turnover as well as net
profitability. However is susceptible to the increasing input prices. The ratings also take into consideration the delays in servicing of
debt obligations by the company caused by technical failure in the boiler
leading to plant shut down for more than a month. The ratings also factor in the promoters support in terms of equity
infusion and various state government industrial policy incentives including
excise exemption, income tax holding and concessional sales tax. Trade relations are improving. Business is active. Payment terms are
reported as slow. In view of strong management profile, the company can be considered
for business dealings with great 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loans: D |
|
Rating Explanation |
Default or are expected to be in default soon. |
|
Date |
December 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short terms non fund based limits: D |
|
Rating Explanation |
Default or expected to be in default on maturity. |
|
Date |
December 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
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. Naresh Gupta |
|
Designation : |
Director |
|
Contact No.: |
91-8043051866 |
|
Date : |
03.08.2014 |
LOCATIONS
|
Registered Office : |
A-257, Road No. 6, Mahipalpur Extension NH-8, New Delhi – 110037,
India |
|
Tel. No.: |
91-11-26783069 |
|
Mobile No.: |
91-8043051866 (Mr. Naresh Gupta) |
|
Fax No.: |
91-11-26781864 |
|
E-Mail : |
|
|
|
|
|
Manufacturing Unit: |
Kashipur, Uttaranchal, India |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Naresh Kumar Gupta |
|
Designation : |
Managing director |
|
Address : |
E-14/4C, E-Block, Poorvi Marg, Vasant Vihar, Delhi, India |
|
Date of Birth/Age : |
09.10.1947 |
|
Date of Appointment : |
14.07.1994 |
|
DIN No.: |
00043496 |
|
PAN No.: |
AAHPG3777D |
|
|
|
|
Name : |
Mr. Amit Kumar |
|
Designation : |
Director |
|
Address : |
E-14/4C, E-Block, Poorvi Marg, Vasant Vihar, Delhi, India |
|
Date of Birth/Age : |
10.06.1974 |
|
Date of Appointment : |
14.07.1994 |
|
DIN No.: |
00041760 |
|
|
|
|
Name : |
Mr. Mandeep Kaur Dhillon |
|
Designation : |
Director |
|
Address : |
Soorajpur Greater Noida, Tehsil Gautam Budh Nagar – 201306, Uttar
Pradesh, India |
|
Date of Birth/Age : |
22.10.1980 |
|
Date of Appointment : |
21.01.2011 |
|
DIN No.: |
03384099 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Naresh kumar Gupta |
|
11167727 |
|
Amit Kumar |
|
12106527 |
|
Somit Kumar |
|
11841648 |
|
Shashi Gupta |
|
7187440 |
|
Rashmi Gupta |
|
3159157 |
|
N K Gupta (HUF) |
|
1150417 |
|
Ridhi Gupta |
|
3444780 |
|
Rahul Marketing Company Private Limited, India |
|
2528250 |
|
Shree Shyam Engineering and Allied Industrial Limited, India |
|
2362250 |
|
Baj Shyam Agro Limited, India |
|
393125 |
|
Mandeep Kaur Dhillion |
|
125 |
|
Total |
|
55341446 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Bodies corporate |
9.55 |
|
Directors or relatives of Directors |
90.45 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of writing and printing paper. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Balraj Kalia and Company Chartered Accountants |
|
Address : |
C-2/400, Janakpuri |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ABCDE1234F |
|
|
|
|
Other Related party
: |
|
|
|
|
|
Associate: |
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60000000 |
Equity Shares |
Rs.10/- each |
Rs. 600.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
55341446 |
Equity Shares |
Rs.10/- each |
Rs. 553.414
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 |
553.414 |
543.352 |
217.341 |
|
(b) Reserves & Surplus |
3986.053 |
3518.112 |
1692.853 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
300.000 |
10.580 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
4839.467 |
4072.044 |
1910.194 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3971.464 |
2912.429 |
1892.137 |
|
(b) Deferred tax liabilities
(Net) |
33.939 |
41.205 |
45.058 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.247 |
|
(d) long-term provisions |
3.065 |
2.945 |
2.260 |
|
Total
Non-current Liabilities (3) |
4008.468 |
2956.579 |
1939.702 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2536.121 |
1741.400 |
1205.401 |
|
(b) Trade payables |
341.397 |
143.529 |
42.489 |
|
(c) Other current liabilities |
663.366 |
533.172 |
496.171 |
|
(d) Short-term provisions |
132.597 |
97.636 |
83.128 |
|
Total
Current Liabilities (4) |
3673.481 |
2515.737 |
1827.189 |
|
|
|
|
|
|
TOTAL |
12521.416 |
9544.360 |
5677.085 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4387.775 |
5200.317 |
3477.175 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
3513.857 |
771.812 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.242 |
0.242 |
0.242 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
7901.874 |
5972.371 |
3477.417 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1742.407 |
1329.393 |
1203.373 |
|
(c) Trade receivables |
2047.912 |
1159.775 |
537.832 |
|
(d) Cash and cash equivalents |
67.562 |
48.868 |
34.936 |
|
(e) Short-term loans and
advances |
761.661 |
1033.953 |
423.527 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
4619.542 |
3571.989 |
2199.668 |
|
|
|
|
|
|
TOTAL |
12521.416 |
9544.360 |
5677.085 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
7117.410 |
4997.537 |
2963.094 |
|
|
Other Income |
19.187 |
39.619 |
14.123 |
|
|
TOTAL
(A) |
7136.597 |
5037.156 |
2977.217 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
3500.348 |
2424.846 |
1340.379 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(23.104) |
(91.259) |
(171.745) |
|
|
Employees benefits expense |
180.491 |
158.491 |
102.069 |
|
|
Other expenses |
1761.526 |
1211.839 |
639.816 |
|
|
TOTAL
(B) |
5419.261 |
3703.917 |
1910.519 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
1717.336 |
1333.239 |
1066.698 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
502.501 |
476.988 |
391.776 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1214.835 |
856.251 |
674.922 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
712.841 |
494.508 |
360.381 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
501.994 |
361.743 |
314.541 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
(7.266) |
(58.138) |
69.490 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
509.260 |
419.881 |
245.051 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
9.37 |
7.73 |
11.54 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin PAT/ Sales |
(%) |
7.16 |
8.40 |
8.27 |
|
|
|
|
|
|
|
PBIDT / Sales |
(%) |
24.13 |
26.68 |
36.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.57 |
4.12 |
5.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.09 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.34 |
1.14 |
1.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26 |
1.42 |
1.20 |
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 |
217.341 |
543.352 |
553.414 |
|
Reserves & Surplus |
1692.853 |
3518.112 |
3986.053 |
|
Share Application money
pending allotment |
0.000 |
10.580 |
300.000 |
|
Net
worth |
1910.194 |
4072.044 |
4839.467 |
|
|
|
|
|
|
long-term borrowings |
1892.137 |
2912.429 |
3971.464 |
|
Short term borrowings |
1205.401 |
1741.400 |
2536.121 |
|
Total
borrowings |
3097.538 |
4653.829 |
6507.585 |
|
Debt/Equity
ratio |
1.622 |
1.143 |
1.345 |
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 |
2963.094 |
4997.537 |
7117.410 |
|
|
|
68.659 |
42.418 |
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 |
2963.094 |
4997.537 |
7117.410 |
|
Profit |
245.051 |
419.881 |
509.260 |
|
|
8.27% |
8.40% |
7.16% |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
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: Registered office of the company has been shifted from Delhi - 110058, India to the present address w.e.f. 01.02.2010
OPERATONS REVIEW
The year, has overall been a challenging yet encouraging year. The company continued to improve its performance on almost every parameter like productivity, product mix, quality etc, which has resulted in better results for the year.
The company recorded a turnover of Rs. 7117.400 Millions during the financial year under review against Rs. 4997.500 Millions in the previous year, an increase of approximately 42.42 percent. The operating profit before exceptional items (Interest, Depreciation, misc. exp. Written off) and tax and net profit of the company was Rs. 1717.300 Millions and Rs. 509.300 Millions respectively, for the year as against Rs. 1333.200 Millions and Rs. 419.900 Millions for the previous year respectively.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
911.314 |
582.679 |
|
|
|
|
|
Total |
911.314 |
582.679 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10494910 |
29/03/2014 |
1,211,900,000.00 |
CORPORATE BANK |
CORPORATE BANK, 10TH FLOOR, HINDUSTAN TIMES HOUSE,18/20 K.G. MARG, NEW DELHI, DELHI - 110001, INDIA |
C03409802 |
|
2 |
10507008 |
29/03/2014 |
2,525,800,000.00 |
UCO BANK |
93, ASHOK BHAWAN,
MCU NEHRU PLACE, NEW DELHI, DEL |
C09883406 |
|
3 |
10500965 |
28/03/2014 |
22,500,000.00 |
HDFC BANK LIMITED |
2ND FLOOR, EXPRESS BUILDING, 9-10, BAHADUR SHAH ZAFAR MARG, ITO, NEW DELHI, DELHI - 110002, INDIA |
C05565478 |
|
4 |
10519318 |
28/03/2014 |
278,000,000.00 |
ING VYSYA BANK LIMITED |
NARIAN MANZIL,GROUND FLOOR,SHOP NO. G1 TO G5,, SHOP NO.1001 TO 1007,BARAKHAMBA ROAD,, NEW DELHI, DELHI - 110001, INDIA |
C20102034 |
|
5 |
10490660 |
28/03/2014 |
1,106,400,000.00 |
ORIENTAL BANK OF COMMERCE |
BARA TOOTI CHOWK, SADAR BAZAR, DELHI, DELHI - 110006, INDIA |
C03913837 |
|
6 |
10494307 |
29/09/2014 * |
197,700,000.00 |
STATE BANK OF BIKANER & JAIPUR |
JAWALA HEDI MARKET,, PASCHIM VIHAR,, NEW DELHI, DELHI - 110063, INDIA |
C28343978 |
|
7 |
10508665 |
22/03/2014 |
247,900,000.00 |
SYNDICATE BANK |
CORPORATE FINANCE BRANCH, FIRST FLOOR, SAROJINI HOUSE, 6, BHAGWAN DASS ROAD, NEW DELHI, DELHI - 110001, INDIA |
C11039435 |
|
8 |
10390513 |
21/11/2012 |
400,000,000.00 |
CORPORATION BANK |
10TH,FLOOR, H.T.HOUSE, 18/20,K.G.MARG CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B63553366 |
|
9 |
10375646 |
31/08/2012 |
100,000,000.00 |
CHINATRUST COMMERCIAL BANK |
A-1/16, WENGER HOUSE, RAJIV CHOWK, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B57761173 |
|
10 |
10343222 |
11/02/2013 * |
7,402,400,000.00 |
UCO BANK |
93, ASHOK BHAWAN, MCU BRANCH NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
B69769412 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office 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 records 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.61.41 |
|
|
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.79.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--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.