MIRA INFORM REPORT
|
Report Date : |
08.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
NSIL EXPORTS LIMITED |
|
|
|
|
Registered
Office : |
621, Tulsiani Chambers, Nariman Point, Mumbai – 400 021, |
|
|
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|
Country : |
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|
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|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
08.04.1994 |
|
|
|
|
Com. Reg. No.: |
11-141533 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.20.006
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51420MH1994PLC141533 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN09317A MUMN09356E MUMN08008A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN5529J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of all kinds of steel founders, steel makers, convertors,
scientific, industrial, surgical instruments, agricultural implements, etc. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
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 |
|
Status : |
Satisfactory |
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|
|
Payment Behaviour : |
Usually correct |
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|
|
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Litigation : |
Exist |
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|
|
Comments : |
Subject is an established company having satisfactory track record. As per ROC the date of balance sheet (i.e, financial filed) is shown
as 31.03.2014 but the document related to the financial for the year 2014 are
not available from any sources. As per available financial of 2013, general financial positon of the
company is normal and acceptable for business dealing. Trade relations are reported as fair. Business is active. Payments
terms are reported to slow but correct. The company can be considered formal for business dealings 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
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 |
CARE |
|
Rating |
Long term bank facilities: BB+ (Suspended) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
05.03.2014 |
Reason for suspended: The rating have been
suspended as the company has not furnished the information required.
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
MANAGEMENT NON – COOPERATIVE (91-731-2518167)
LOCATIONS
|
Registered Office : |
621, Tulsiani Chambers, Nariman Point, Mumbai – 400 021, |
|
Tel. No.: |
91-22-22886267/ 22025098 |
|
Fax No.: |
91-22-22025084 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Administration Office : |
401, Mahakosh House, 7/5, South Tukoganj, |
|
Tel. No.: |
91-731-2518167-68-69 |
|
Fax No.: |
91-731-2516714 |
|
E-Mail : |
DIRECTORS
As on 04.09.2013
|
Name : |
Mr. Santosh Shahra |
|
Designation : |
Director |
|
Address : |
29, Old Palasia, A.B. Road, Indore – 452 001, Madhya Pradesh, India |
|
Date of Birth/Age : |
17.12.1946 |
|
Qualification: |
B.E, MS (USA) |
|
Date of Appointment : |
09.04.1994 |
|
DIN No.: |
00305846 |
|
|
|
|
Name : |
Mr. Ravi Kumar Soni |
|
Designation : |
Director |
|
Address : |
II-K/37, Lajpat Nagar, New Delhi – 110 024, India |
|
Date of Birth/Age : |
28.12.1949 |
|
Qualification: |
M.Sc. (Gold Medallist) |
|
Date of Appointment : |
28.09.2000 |
|
DIN No.: |
00203888 |
|
PAN No.; |
AIGPS0795Q |
|
|
|
|
Name : |
Mr. Ashok Kumar Sharma |
|
Designation : |
Director |
|
Address : |
76, Vinay Nagar, Opposite Nemi Nagar Jain Colony, RTO Road, Indore – 452 001, Madhya Pradesh, India |
|
Date of Birth/Age : |
21.09.1956 |
|
Qualification: |
C.A. |
|
Date of Appointment : |
13.10.2003 |
|
DIN No.: |
00936007 |
|
|
|
|
Name : |
Mr. Vishesh Shahra |
|
Designation : |
Whole-time director |
|
Address : |
29, Old Palasia, A.B. Road, Indore – 452 001, Madhya Pradesh, India |
|
Date of Birth/Age : |
13.07.1983 |
|
Date of Appointment : |
13.08.2013 |
|
DIN No.: |
00203546 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 04.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Kailash Chandra Shahra |
|
40 |
|
Santosh Kumar Shahra |
|
40 |
|
A.C. Patel |
|
40 |
|
Suresh Shahra |
|
40 |
|
Manish Shahra |
|
40 |
|
Umesh Shahra |
|
40 |
|
Ashok Sharma |
|
40 |
|
National Steel Industries Limited, |
|
320 |
|
Ruchi Power Corporation Limited, |
|
520000 |
|
Ruchi Integrated Steels ( |
|
600000 |
|
NSIL Power Limited, |
|
400000 |
|
NSIL Finance Limited, |
|
280000 |
|
Divine lnfracreation and Trading Private Limited, |
|
100000 |
|
NSIL lnfotech Limited, |
|
100000 |
|
Total |
|
2000600 |
Equity Share Break up (Percentage of Total Equity)
As on 04.09.2013
|
Category |
Percentage |
|
Bodies corporate |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of all kinds of steel founders, steel makers, convertors,
scientific, industrial, surgical instruments, agricultural implements, etc. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||
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|
||||||||||||||||||
|
Bankers : |
IDBI Bank Limited, Specialized Corporate Branch, Upper Ground Floor, Captain C.S. Nayudu Arcade, 10/2, Old Palasia, Indore – 452 001, Madhya Pradesh, India HDFC Bank Limited IndusInd Bank Limited, 2401, Gen Thimmayya Road Cantonment, Pune – 411 001, Maharashtra, India State Bank of India, Commercial Branch, Near G.P.O., Indore - 452001, Madhya Pradesh, India |
||||||||||||||||||
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Facilities : |
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Banking
Relations : |
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|
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Auditors : |
|
|
Name : |
Manoj Khatri and Company Chartered Accountants |
|
Address : |
218, |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAOFM2409D |
|
|
|
|
Other related
parties where control exists: |
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000600 |
Equity Shares |
Rs.10/- each |
Rs. 20.006
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 |
20.006 |
20.006 |
20.006 |
|
(b) Reserves & Surplus |
575.122 |
513.385 |
459.851 |
|
(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) |
595.128 |
533.391 |
479.857 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.539 |
2.999 |
4.348 |
|
(b) Deferred tax liabilities
(Net) |
0.220 |
0.308 |
0.224 |
|
(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) |
1.759 |
3.307 |
4.572 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
316.136 |
229.838 |
139.918 |
|
(b) Trade payables |
353.475 |
637.578 |
526.028 |
|
(c) Other current liabilities |
18.789 |
11.322 |
45.521 |
|
(d) Short-term provisions |
20.246 |
6.671 |
15.971 |
|
Total
Current Liabilities (4) |
708.646 |
885.409 |
727.438 |
|
|
|
|
|
|
TOTAL |
1305.533 |
1422.107 |
1211.867 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
7.140 |
8.117 |
9.833 |
|
(ii) Intangible Assets |
0.038 |
0.046 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
5.000 |
5.000 |
5.000 |
|
(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 |
0.230 |
0.180 |
0.000 |
|
Total
Non-Current Assets |
12.408 |
13.343 |
14.833 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
452.932 |
664.419 |
345.542 |
|
(c) Trade receivables |
611.339 |
537.726 |
400.321 |
|
(d) Cash and cash equivalents |
79.435 |
76.966 |
157.553 |
|
(e) Short-term loans and
advances |
147.076 |
125.646 |
291.159 |
|
(f) Other current assets |
2.343 |
4.007 |
2.459 |
|
Total
Current Assets |
1293.125 |
1408.764 |
1197.034 |
|
|
|
|
|
|
TOTAL |
1305.533 |
1422.107 |
1211.867 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
3871.375 |
3335.247 |
3141.944 |
|
|
Other Income |
0.000 |
3.019 |
5.340 |
|
|
TOTAL
(A) |
3871.375 |
3338.266 |
3147.284 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
3655.979 |
3156.992 |
2981.301 |
|
|
Employees benefits expense |
7.149 |
5.541 |
4.959 |
|
|
Other expense |
81.818 |
58.793 |
56.436 |
|
|
TOTAL
(B) |
3744.946 |
3221.326 |
3042.696 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
126.429 |
116.940 |
104.588 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
31.909 |
31.470 |
23.361 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
94.520 |
85.470 |
81.227 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
0.981 |
1.394 |
1.508 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
93.539 |
84.076 |
79.719 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
31.802 |
30.542 |
31.797 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
61.737 |
53.534 |
47.922 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
372.328 |
318.794 |
270.872 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
434.065 |
372.328 |
318.794 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
728.420 |
782.226 |
770.738 |
|
|
|
|
|
|
|
|
Value
of Imports on CIF basis |
141.510 |
553.651 |
726.427 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
30.86 |
26.76 |
23.95 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin PAT/ Sales |
(%) |
1.59 |
1.61 |
1.53 |
|
|
|
|
|
|
|
PBIDT / Sales |
(%) |
3.27 |
3.51 |
3.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.19 |
5.93 |
6.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.16 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.53 |
0.44 |
0.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.82 |
1.59 |
1.65 |
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 |
20.006 |
20.006 |
20.006 |
|
Reserves & Surplus |
459.851 |
513.385 |
575.122 |
|
Net
worth |
479.857 |
533.391 |
595.128 |
|
|
|
|
|
|
long-term borrowings |
4.348 |
2.999 |
1.539 |
|
Short term borrowings |
139.918 |
229.838 |
316.136 |
|
Total
borrowings |
144.266 |
232.837 |
317.675 |
|
Debt/Equity
ratio |
0.301 |
0.437 |
0.534 |
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 |
3141.944 |
3335.247 |
3871.375 |
|
|
|
6.152 |
16.075 |
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 |
3141.944 |
3335.247 |
3871.375 |
|
Profit |
47.922 |
53.534 |
61.737 |
|
|
1.53% |
1.61% |
1.59% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
1.460 |
1.460 |
1.460
|
|
|
|
|
|
|
Total |
1.460 |
1.460 |
1.460
|
|
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 |
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 |
Yes |
|
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 |
LITIGATION DETAILS
CASE DETAILS
BENCH:-BOMBAY
|
Lodging No.:- |
ITXAL/1339/2014 |
Filing Date:- |
17/07/2014 |
|
Petitioner:- |
THE COMMISSIONER OF INCOME TAX - 3 |
Respondent:- |
NSIL EXPORTS LTD. |
|
Petn.Adv.:- |
PADMA DIVAKAR (I3287) |
Resp.Adv.:- |
VISHNU S HADADE (RESPONDENT) (I2009) |
|
District:- |
MUMBAI |
|
Bench:- |
SINGLE |
||||
|
Status:- |
Pre-Admission |
Category:- |
TAX APPEALS |
|
Last Date:- |
30/10/2014 |
Stage:- |
FOR REJECTION [ORIGINAL SIDE MATTERS] |
|
Last Coram:- |
REGISTRAR(OS)/PROTHONOTARY & SR.
MASTER |
|
Act :- |
Banking Regulation Act |
Under Section:- |
260A |
PERFORMANCE
The Company’s top line performance was better than last year. The Company turnover was higher by 16% to Rs 3871.376 Millions in comparison to Rs 3338.266 Millions during the previous year. The Company achieved Exports turnover of Rs 952.962 Millions (previous year Rs 1061.413 Millions). The Company’s profit before tax was Rs 93.540 Millions as compared to Rs 84.076 Millions of previous year. The Company’s profit after tax increased to Rs 61.737 Millions as against Rs 53.534 Millions of previous year showing a growth of 15%.
The Company expects to continue the said performance during the current financial year.
The Directors do not recommend dividend for the period.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10081119 |
05/06/2013 * |
446,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, A.B. ROAD (NEAR G.P.O.), INDORE, MADHYA PRADESH - 452001, INDIA |
B80826159 |
|
2 |
80057439 |
09/02/2004 |
300,000,000.00 |
STATE BANK OF TRAVANCORE |
"RATNADEEP", NAVLAKHA, A.B. ROAD, INDORE, MADHYA PRADESH - 452001, INDIA |
- |
|
3 |
80057440 |
26/10/2010 * |
357,000,000.00 |
IDBI BANK LIMITED |
SPECIALIZED
CORPORATE BRANCH, UPPER GROUND FLOOR, |
A99045981 |
* Date of charge modification
CONTINGENT
LIABILITIES: (As on 31.03.2013)
The Company has given guarantees aggregating to Rs.0.400 Million ( Previous Year Rs.0.100 Million) to Banks on its behalf.
(B) Sundry Creditors includes Rs .256.991 Millions towards acceptances (Previous Year Rs. 549.616 Millions) and Rs. Nil (Previous year Rs.Nil) due to small scale and Ancillary Undertakings. This information and that given in Traded Payable regarding small scale Industrial undertakings have been determined to the extent such parties have been identified on the basis of information available with the company. This has been relied upon by the auditors.
In the absence of the necessary information with the company relating to the registration status of the suppliers under the Micro, Small and Medium Enterprises Development act 2006.
FIXED ASSETS
Tangible assets
- Land
- Vehicles
- Office equipment
- Computer equipments
Intangible assets
- Computer software
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.61.52 |
|
|
1 |
Rs.97.39 |
|
Euro |
1 |
Rs.76.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
YES |
|
--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 |
|
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.