MIRA INFORM REPORT

 

 

Report Date :

20.11.2014

 

IDENTIFICATION DETAILS

 

Name :

OSWAL SMELTERS PRIVATE LIMITED

 

 

Registered Office :

No.6, 2nd Main Road Ramachandrapuram, Bangalore – 560021, Karnataka

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

28.04.2008

 

 

Com. Reg. No.:

08-046211

 

 

Capital Investment / Paid-up Capital :

Rs. 3.460 Millions

 

 

CIN No.:

[Company Identification No.]

U27107KA2008PTC046211

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AABCO0319E

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Trader of Ferro Alloys and Non-Ferro Alloys.

 

 

No. of Employees :

100 (Approximately)

 

 

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

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

 

 

Comments :

Subject is a company with limited operational history having moderate track.

 

Management has filed Form 66 which depicts compliance certificate for FY14, whereas has failed to file any other financial information for same year, with the statutory authorities. 

 

As per available, the company possesses a weak financial profile marked by small networth based along with huge gearing, working capital intensive operations and slow realization of debtors ; Further constrained by negative cash balance may be as a result of over utilization of bank limits.

 

 Management has achieved an acceptable revenue from its first year of commercial operations during FY13, but has reported a loss from its operations.

 

However, trade relations seems to be improving. Business is active. Payment terms are reported as slow.

 

In view of deteriorating liquidity 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.

 

 

 

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 PARTED BY

 

Name :

Mr. Saurabh

Designation :

Manager

Contact No.:

91-80-22978745

Date :

20.11.2014

 

 

LOCATIONS

 

Registered Office :

No.6, 2nd Main Road Ramachandrapuram, Bangalore – 560021, Karnataka, India

Tel. No.:

91-8022978745

Mobile No.:

91-9885863961 (Mr. Praveen)

Fax No.:

Not Available

E-Mail :

oswalgroup@vsnl.com

Location :

Rented

 

 

Dealer Office :

Door No. 30-9-25, Sarada Street, Daba Garden, Vishakhapatnam – 530020, India

Tel. No.:

91-80-23123187 / 22978710

Fax No.:

91-80-23123114

 

 

Manufacturing Unit :

No. 31-1, 31-2, 31-3, Gollapuram Village, Hindupur Mandal, Anantpur, District-Hindupur – 515211, Andhra Pradesh, India

Location :

Owned

 

 

DIRECTORS

 

As on 30.09.2013

 

Name :

Mr. Mohanlal Bharatkumar Jain

Designation :

Director

Address :

No. 6, 2nd Main Road, Ramchandrapuram, Banglore-560021, Karnataka, India

Date of Birth/Age :

07.04.1980

Date of Appointment :

28.04.2008

DIN No.:

01252633

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U51109WB2005PTC101808

SUKHI VANIJYA PRIVATE LIMITED

Director

21-02-05

21-02-05

-

Active

NO

2

U27107KA2007PLC044365

JAIN AND SNAM ALLOYS (INDIA) LIMITED

Director

14-11-07

14-11-07

-

Active

NO

3

U27107KA2008PTC046211

OSWAL SMELTERS PRIVATE LIMITED

Director

28-04-08

28-04-08

-

Active

NO

4

 

L30006TN1996PLC035973

OSWAL MINERALS LIMITED

Whole-time director

27-03-14

27-02-10

-

Active

NO

 

 

Name :

Mr. Shripal Kumar Mohanlal

Designation :

Director

Address :

No. 6, 2nd Main Road, Ramchandrapuram, Banglore-560021, Karnataka, India

Date of Birth/Age :

01.07.1965

Date of Appointment :

28.04.2008

DIN No.:

01000236

Other Directorship :

                               

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

L30006TN1996PLC035973

OSWAL MINERALS LIMITED

Managing director

27-03-14

06-02-04

-

Active

NO

2

U51109WB2005PTC101807

RATAN TIE-UP PRIVATE LIMITED

Director

21-02-05

21-02-05

-

Active

NO

3

U27107KA2007PLC044365

JAIN AND SNAM ALLOYS (INDIA) LIMITED

Director

14-11-07

14-11-07

-

Active

NO

4

U27107KA2008PTC046211

OSWAL SMELTERS PRIVATE LIMITED

Director

28-04-08

28-04-08

-

Active

NO

 

 

Name :

Mr. Subhashchandra Mohanlal

Designation :

Director

Address :

No. 6, 2nd Main Road, Ramchandrapuram, Banglore-560021, Karnataka, India

Date of Birth/Age :

22.01.1976

Date of Appointment :

01.11.2010

DIN No.:

01088346

Other Directorship :

                                              

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U27101KA2005PTC035923

OSWAL ALLOYS PRIVATE LIMITED

Director

28-03-05

28-03-05

-

Active

NO

2

U27107KA2008PTC046211

OSWAL SMELTERS PRIVATE LIMITED

Director

01-11-10

01-11-10

-

Active

NO

3

L30006TN1996PLC035973

OSWAL MINERALS LIMITED

Director

30-09-13

01-04-13

-

Active

NO

 

Name :

Mr. Sunitha Vimal Kumar

Designation :

Director

Address :

No. 6, 2nd Main Road, Ramchandrapuram, Banglore-560021, Karnataka, India

Date of Birth/Age :

27.05.1975

Date of Appointment :

10.06.2011

DIN No.:

01088245

Other Directorship :

 

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U51109WB2005PTC101808

SUKHI VANIJYA PRIVATE LIMITED

Director

21-02-05

21-02-05

-

Active

NO

2

U27107KA2008PTC046211

OSWAL SMELTERS PRIVATE LIMITED

Director

10-06-11

10-06-11

-

Active

NO

 

 

Name :

Mr. Sapna Kothari

Designation :

Director

Address :

No. 6, 2nd Main Road, Ramchandrapuram, Banglore-560021, Karnataka, India

Date of Birth/Age :

01.02.1982

Date of Appointment :

10.06.2011

DIN No.:

00436890

Other Directorship :

 

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

L30006TN1996PLC035973

OSWAL MINERALS LIMITED

Director

07-05-04

07-05-04

-

Active

NO

2

U27107KA2008PTC046211

OSWAL SMELTERS PRIVATE LIMITED

Director

10-06-11

10-06-11

-

Active

NO

 

KEY EXECUTIVES

 

Name :

Mr. Faurabh

Designation :

Finance Head

 

 

MAJOR SHAREHOLDERS

 

As on 30.09.2013

 

Names of Shareholders

 

No. of Shares

Mohanlal Bharatkumar Jain

12500

Shripal Kumar Mohanlal

12500

Sapna Jain

12500

Sunita Vimal Kumar

12500

Sarveshrestha Traders Private Limited

55000

Nitin Hire Purchase Private Limited

35000

Evergreen Trexim Private Limited

15000

Glitter Development Private Limited

15000

Gravity Barter Private Limited

15000

Handsome Sales Private Limited

15000

Zigma Cammo Trade Private Limited

45000

Peach Agencies Private Limited

21000

Nitin Hirer Purchase Private Limited

42000

Shyama Properties Sales Private Limited

20000

Fly High Exports Private Limited

18000

 

 

TOTAL

346000

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2013

 

Category

 

Percentage

Bodies corporate

85.56

Directors or relatives of Directors

14.44

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Trader of Ferro Alloys and Non-Ferro Alloys.

 

 

Products :

·         Ferro Alloys

·         Non-Ferro Alloys

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

Finished Goods

Countries :

·         UAE

·         Middle East

·         Asia

·         Europe

 

 

Imports :

 

Products :

Raw Material

Countries :

·         Middle East

·         Far East

·         USA

·         Europe

·         Asia

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

GENERAL INFORMATION

 

Suppliers :

Not Divulged

 

 

Customers :

Wholesalers and Retailers

 

 

No. of Employees :

100 (Approximately)

 

 

Bankers :

·         Citi Bank

 

Banker Name :

Axis Bank Limited

Branch :

Rajaji Nagar Branch, Bangalore, Karnataka, India

Person Name (With Designation) :

Mr. Sudhir (Branch Manager)

Contact Number :

91-8095505591

Name of Account Holder :

Not Divulged

Account Number :

Not Divulged

Account Since (Date/Year of Account Opening) :

From 2008

Average Balance Maintained (If Possible) :

Not Divulged

Credit Facilities Enjoyed (If any) :

Not Divulged

Account Operation :

Not Divulged

Remarks (If any) :

Mr. Sudhir informed that the company having good relation with banker in payment behavior.

 

 

 

 

Facilities :

(Rs. In Millions)

Secured Loan

As on

31.03.2013

As on

31.03.2012

Long Term Borrowings

 

 

Rupee Term loan from Others

103.661

45.151

 

 

 

Total

103.661

45.151

 

 

 

Banking Relations :

---

 

 

Financial Institute :

Andhra Pradesh State Financial Corporation

Address :

Chirag Ali Lane, Abids, Hyderabad - 500001, Andhra Pradesh, India

 

 

Auditors :

 

Name :

N. N. Yuvraj and Assocoates

Chartered Accountant

Address :

'Vision House' No.23 3rd Floor Park Road, Off Queens Road, Bangalore-560051, Karnataka, India

Tel. No.:

91-80-22869792 / 22862672

Fax No.:

91-80-42109272

E-Mail :

info@nnvind.com

 

 

Sister Concern :

·         Oswal Minerals Limited

·         Oswal Alloys Private Limited

 

 

Related Parties :

Bhairav Holdings Inc

 

 

CAPITAL STRUCTURE

 

As on 30.09.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

750000

Equity Shares

Rs.10/- each

Rs. 7.500 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

346000

Equity Shares

Rs.10/- each

Rs. 3.460 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

3.460

3.460

0.500

(b) Reserves & Surplus

17.472

26.640

0.000

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

15.000

Total Shareholders’ Funds (1) + (2)

20.932

30.100

15.500

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

103.661

45.151

0.000

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(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)

103.661

45.151

0.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

371.039

80.817

18.502

(b) Trade payables

151.416

1.908

0.853

(c) Other current liabilities

2.750

0.253

19.897

(d) Short-term provisions

0.696

0.000

0.000

Total Current Liabilities (4)

525.901

82.978

39.252

 

 

 

 

TOTAL

650.494

158.229

54.752

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

129.400

126.709

41.452

(ii) Intangible Assets

0.000

0.000

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

0.000

0.000

0.000

(c) Deferred tax assets (net)

4.775

0.000

0.000

(d)  Long-term Loan and Advances

15.439

0.758

0.758

(e) Other Non-current assets

0.000

14.730

4.055

Total Non-Current Assets

149.614

142.197

46.265

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

121.990

0.000

0.000

(c) Trade receivables

360.435

0.000

0.000

(d) Cash and cash equivalents

(37.753)

(2.147)

0.000

(e) Short-term loans and advances

56.208

18.179

8.487

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

500.880

16.032

8.487

 

 

 

 

TOTAL

650.494

158.229

54.752

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Income

1058.254

0.000

0.000

 

 

Other Income

4.779

0.000

0.000

 

 

TOTAL                                     (A)

1063.033

0.000

0.000

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

968.272

0.000

0.000

 

 

Employees benefits expense

3.602

0.000

0.000

 

 

Preliminary expenses

 0.000

0.000

0.000

 

 

Other expenses

45.902

0.000

0.000

 

 

TOTAL                                     (B)

1017.776

0.000

0.000

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

45.257

0.000

0.000

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

24.757

0.000

0.000

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

20.500

0.000

0.000

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

33.746

0.000

0.000

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

(13.246)

0.000

0.000

 

 

 

 

 

Less

TAX                                                                  (H)

(4.078)

0.000

0.000

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

(9.168)

0.000

0.000

 

 

 

 

 

 

Earnings Per Share (Rs.)

(26.50)

0.000

0.000

 

 

Particulars

 

 

 

31.03.2014

Sales Turnover (Approximately)

 

 

1900.000

 

 

 

 

 

Expected Sales (2014-15): Rs. 2000.000 Millions

 

The above information has been parted by Mr. Faurabh (Finance Head).

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

PAT / Total Income

(%)

(0.86)

0.00

0.00

 

 

 

 

 

Net Profit Margin

(PBT/Sales)

(%)

(1.25)

0.00

0.00

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(2.05)

0.00

0.00

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.63)

0.00

0.00

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

22.68

4.18

1.19

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.95

0.19

0.22

 

 

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

0.500

3.460

3.460

Reserves & Surplus

0.000

26.640

17.472

Share Application money pending allotment

15.000

0.000

0.000

Net worth

15.500

30.100

20.932

 

 

 

 

long-term borrowings

0.000

45.151

103.661

Short term borrowings

18.502

80.817

371.039

Total borrowings

18.502

125.968

474.700

Debt/Equity ratio

1.194

4.185

22.678

 

 

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

Yes

9]

Name of person contacted

Yes

10]

Designation of contact person

Yes

11]

Turnover of firm for last one years

Yes

12]

Profitability for last one 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

Yes

18]

Major customers

Yes

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]

Date of Birth of Proprietor/Partner/Director, if available

Yes

32]

PAN of Proprietor/Partner/Director, if available

No

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

No

 

 

UNSECURED LOAN

                                                                                                                                             (Rs. In Millions)

Particulars

As on

31.03.2013

As on

31.03.2012

Short Term Borrowings

 

 

Loan Repayable on Demand of Banks

152.994

0.000

Loans and advances from related parties

218.045

0.000

Loans and advances from Directors

0.000

68.817

Loans and advances from others

0.000

12.000

 

 

 

Total

371.039

80.817

 

 

INDEX OF CHARGES

 

Sr.

No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

 

Charge Holder

Address

Service Request Number (SRN)

1

10308816

24/09/2011

111,000,000.00

ANDHRA PRADESH STATE FINANCIAL CORPORATION

CHIRAG ALI LANE, ABIDS, HYDERABAD, ANDHRA PRADESH - 500001, INDIA

B21948732

 

 

 

FIXED ASSETS

 

·         Land

·         Office Equipment

·         Plant and Machinery

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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. 61.83

UK Pound

1

Rs.96.56

Euro

1

Rs. 77.42

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

SUB

 

 

Report Prepared by :

NKT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

2

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

 

 

 

TOTAL

 

27

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.