MIRA
INFORM REPORT
|
Report Date : |
22.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
POSCO – INDIA PUNE PROCESSING CENTRE PRIVATE LIMITED (w.e.f.
19.05.2008) |
|
|
|
|
Formerly Known
As : |
POS-INDIA STEEL PROCESSING CENTRE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. A-9, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
24.11.2005 |
|
|
|
|
Com. Reg. No.: |
25-021580 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1150.624 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27107PN2005PTC021580 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEP09880D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCP7555R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture, Exporter and Importer of hot and cold roll steel. |
|
|
|
|
No. of Employees
: |
180 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 29.00000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “POSCO, Korea”. It is a well established
company having a satisfactory track record. Management has failed to file latest financial for Financial Year with
the statutory authorities. There appears some accumulated losses recorded by the company.
However, the subject gets strong financial support from group companies. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct and as per commitment. In view of experience promoters, the company can be considered for
normal 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 – 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 |
CRISIL |
|
Rating |
Short term rating = A1 |
|
Rating Explanation |
Having very strong degree of safety and carry lowest credit risk |
|
Date |
09.06.2014 |
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
31-03-2014.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Vidya |
|
Designation : |
HR Head |
|
Contact No.: |
91-2114-308100 |
|
Date : |
21.11.2014 |
LOCATIONS
|
Registered Office : |
Plot No. A-9, Floriculture Park, Talegaon Industrial Area (MIDC), Pune
– 410507, Maharashtra, India |
|
Tel. No.: |
91-2114-308100 |
|
Mobile No.: |
91-9767104962 (Mr. Swapnil) |
|
Fax No.: |
91-2114-308146/ 7 |
|
E-Mail : |
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|
Website : |
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|
|
|
Factory : |
Pashmylarm, |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Jae Doo Sung Woo |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
B-6/7, Vasant Vihar, |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
30.12.1966 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
02.05.2006 |
|||||||||||||||||||||||||||
|
DIN No.: |
01770910 |
|||||||||||||||||||||||||||
|
Other
Directorship :
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Cheol Min Kim |
|||||||||||||||||||||||||||
|
Designation : |
Whole Time Director |
|||||||||||||||||||||||||||
|
Address : |
Plot No. A9, Floriculture Park, Talegaon MIDC, Pune – 410507,
Maharashtra, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
17.12.1965 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
02.05.2014 |
|||||||||||||||||||||||||||
|
DIN No.: |
03577276 |
|||||||||||||||||||||||||||
|
Other Directorship
:
|
||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Amit Digambar Kumbhare |
|
Designation : |
Secretary |
|
Address : |
A4/ 403, Shivsagar City Anand Nagar, Sinhagad Road, Pune – 411051,
Maharashtra, India |
|
Date of Birth/Age : |
14.12.1982 |
|
Date of Appointment : |
21.02.2013 |
|
PAN No.: |
APGPK7935P |
|
|
|
|
Name : |
Mr. Rahul Agarwal |
|
Designation : |
Account Manager |
|
|
|
|
Name : |
Ms. Vidya |
|
Designation : |
HR Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of holding |
|
Posco Korea, Seoul, Korea |
74787132 |
65.00 |
|
LG International Corp, Seoul, Korea |
40275330 |
35.00 |
|
Total |
115062462 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture, Exporter and Importer of hot and cold roll steel. |
|
|
|
|
Products : |
·
Steel Belt Processes ·
Steel Coil Processing |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
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Exports : |
|
|
Products : |
·
Finished Goods |
|
Countries : |
·
Singapore ·
Bangladesh ·
Dubai ·
Thailand |
|
|
|
|
Imports : |
|
|
Products : |
·
Raw Material |
|
Countries : |
·
Korea |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
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|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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|
||||||||||||||||||||||
|
Customers : |
Wholesalers and Manufacturer |
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|
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No. of Employees : |
180 (Approximately) |
||||||||||||||||||||||
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|
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|
Bankers : |
|
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Auditors : |
|
|
Name : |
BBSR and Company Chartered Accountants |
|
Address : |
703, 7th Floor, Godrej Castlemaine, Next to Ruby Hall Clinic, Bund Garden Road, Pune 411001, Maharashtra, India |
|
Tel. No.: |
91-20-30504000 |
|
Fax No.: |
91-20-30504100 |
|
PAN No.: |
AAKFB4397F |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company : |
·
POSCO Company Limited, Korea |
|
|
|
|
Subsidiary Company: |
·
Posco –India Steel Distribution Centre Private
Limited CIN
No.: U51909PN2009PTC133416 |
|
|
|
|
Fellow Subsidiaries : |
·
POSCO Steel Service and Sales Company ·
POSCO Asia Limited ·
POSCO India Delhi Steel processing Company
Private Limited ·
POSCO India Steel distribution Centre Private
Limited ·
POSCO Investments Company Limited ·
POSCO ICT Company Limited ·
POSCO Maharashtra Steel Private Limited · POSCO (Guangdong) Steel Company Limited ·
POSCO South Asia Company Limited · Daewoo International Corporation · POMIC Company Limited · POSCO Future Creation Academy · POSCO India Chennai Steel Processing Private Limited · Posri Re, Limited · POSCO Processing and Service Company Limited |
|
|
|
|
Associates : |
·
LG International Corporation, South Korea · POSCO TMC India Private Limited (known as POSCO Core India Private Limited till 5 December 2012) ·
POSCO Poggen Amp Electrical Steel Private
Limited |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
115062462 |
Equity Shares |
Rs.10/- each |
Rs.1150.624 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
115062462 |
Equity Shares |
Rs.10/- each |
Rs.1150.624 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 |
1150.624 |
1150.624 |
1150.625 |
|
(b) Reserves & Surplus |
(138.025) |
142.955 |
678.504 |
|
(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) |
1012.599 |
1293.579 |
1829.129 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
511.600 |
446.500 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
135.286 |
116.156 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
9.611 |
7.131 |
2.748 |
|
Total Non-current Liabilities (3) |
9.611 |
654.017 |
565.404 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
5737.263 |
4174.136 |
3315.144 |
|
(b) Trade payables |
1999.393 |
1565.209 |
1415.256 |
|
(c) Other current
liabilities |
80.051 |
96.141 |
122.178 |
|
(d) Short-term provisions |
0.777 |
0.477 |
3.487 |
|
Total Current Liabilities (4) |
7817.484 |
5835.963 |
4856.065 |
|
|
|
|
|
|
TOTAL |
8839.694 |
7783.559 |
7250.598 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1535.174 |
1583.239 |
1310.081 |
|
(ii) Intangible Assets |
8.030 |
1.651 |
1.650 |
|
(iii) Capital
work-in-progress |
0.404 |
1.297 |
68.022 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
260.915 |
222.978 |
214.098 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
60.524 |
84.148 |
10.202 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1865.047 |
1893.313 |
1604.053 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3010.164 |
2897.880 |
1837.520 |
|
(c) Trade receivables |
3030.100 |
1983.725 |
2003.974 |
|
(d) Cash and cash
equivalents |
497.565 |
551.798 |
1402.343 |
|
(e) Short-term loans and
advances |
436.818 |
456.843 |
402.708 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
6974.647 |
5890.246 |
5646.545 |
|
|
|
|
|
|
TOTAL |
8839.694 |
7783.559 |
7250.598 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
12872.446 |
8849.027 |
8852.686 |
|
|
|
Other Income |
77.112 |
54.867 |
102.691 |
|
|
|
TOTAL (A) |
12949.558 |
8903.894 |
8955.377 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
13085.842 |
9231.303 |
8388.625 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(136.284) |
(327.409) |
566.752 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
205.311 |
128.785 |
90.857 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(341.595) |
(456.194) |
475.895 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
74.569 |
60.123 |
57.624 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(416.164) |
(516.317) |
418.271 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(135.183) |
19.232 |
128.450 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(280.981) |
(535.549) |
289.821 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
10416.740 |
8662.806 |
7803.766 |
|
|
|
Stores & Spares |
2.406 |
2.628 |
0.480 |
|
|
|
Capital Goods |
12.338 |
186.631 |
0.287 |
|
|
TOTAL IMPORTS |
10431.484 |
8852.065 |
7804.533 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(2.44) |
(4.66) |
2.51 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(2.18) |
(6.05) |
3.27 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
(1.06) |
(3.70) |
6.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.85) |
(6.83) |
6.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.41) |
(0.40) |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
5.67 |
3.62 |
2.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.89 |
1.01 |
1.16 |
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 |
1150.625 |
1150.624 |
1150.624 |
|
Reserves & Surplus |
678.504 |
142.955 |
(138.025) |
|
Net worth |
1829.129 |
1293.579 |
1012.599 |
|
|
|
|
|
|
long-term borrowings |
446.500 |
511.600 |
0.000 |
|
Short term borrowings |
3315.144 |
4174.136 |
5737.263 |
|
Total borrowings |
3761.644 |
4685.736 |
5737.263 |
|
Debt/Equity ratio |
2.057 |
3.622 |
5.666 |
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 |
8852.686 |
8849.027 |
12872.446 |
|
|
|
(0.041) |
45.467 |
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 |
8852.686 |
8849.027 |
12872.446 |
|
Profit |
289.821 |
(535.549) |
(280.981) |
|
|
3.27% |
(6.05%) |
(2.18%) |
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 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 |
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 |
Yes |
Note:
The Registered Office of the company has been shifted from Zenith
Complex, 4th Floor, Opposite Krishi Bhavan, Shivaji Nagar, Pune –
E-5, Maharashtra, India to the present address w.e.f. 01.11.2006.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Short term
borrowings |
|
|
|
Working capital loans from banks |
5737.263 |
4174.136 |
|
|
|
|
|
Total |
5737.263 |
4174.136 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
FIXED ASSETS
·
Leasehold Land
·
Factory Office and
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Computer and Office
Equipment
·
Motor Vehicles
·
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. 61.85 |
|
|
1 |
Rs. 97.01 |
|
Euro |
1 |
Rs. 77.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KLS |
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 |
NO |
|
--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 |
|
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.