MIRA
INFORM REPORT
|
Report Date : |
25.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
SIDDS JEWELS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
301, 3rd Floor, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
09.05.2003 |
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|
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Com. Reg. No.: |
11-140382 |
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Capital
Investment / Paid-up Capital : |
Rs.30.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36911MH2003PTC140382 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
PAN No.: [Permanent Account No.] |
AAHCS1891H |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacture of Diamond Jewellery, Gold, Silver and Platinum Jewellery.
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|
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|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. There seems a significant growth in the company turnover and profit
during F.Y. 2014. General financial position of the company is good. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered normal 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.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
|
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 |
Long term=BBB |
|
Rating Explanation |
Moderate degree of safety. It carry moderate
credit risk. |
|
Date |
August, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term=A3 |
|
Rating Explanation |
Moderate degree of safety. It carry higher
credit risk. |
|
Date |
August, 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
|
Name : |
Mr. Manoj Modi |
|
Designation : |
Exim Head |
|
Contact No.: |
91-22-42200200 |
|
Date : |
22.11.2014 |
LOCATIONS
|
Registered Office/ Factory : |
301, 3rd Floor, Multi Stories Building (Non A.C.), Seepz,
Andheri (East), Mumbai – 400096, Maharashtra, India |
|
Tel. No.: |
91-22-42200200 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Sunil Sudhir Kothari |
|
Designation : |
Director |
|
Address : |
11, Spring Field, 19, V. Gandhi Road, Gamdevi, Mumbai – 400007, Maharashtra, India |
|
Date of Birth/Age : |
30.05.1965 |
|
Date of Appointment : |
09.05.2003 |
|
PAN No.: |
AACPK3574H |
|
DIN No.: |
00396228 |
|
|
|
|
Name : |
Sneha Sanjay Kothari |
|
Designation : |
Director |
|
Address : |
21, Spring Field, 19, V. Gandhi Road, Gamdevi, Mumbai – 400007, Maharashtra, India |
|
Date of Birth/Age : |
18.10.1972 |
|
Date of Appointment : |
22.03.2004 |
|
PAN No.: |
AAYPK4476C |
|
DIN No.: |
00443220 |
|
|
|
|
Name : |
Saroj Sudhir Kothari |
|
Designation : |
Director |
|
Address : |
21, Spring Field, 19, V. Gandhi Road, Gamdevi, Mumbai – 400007, Maharashtra, India |
|
Date of Birth/Age : |
14.03.1943 |
|
Date of Appointment : |
09.05.2003 |
|
PAN No.: |
AACPK5534H |
|
DIN No.: |
00443544 |
KEY EXECUTIVES
|
Name : |
Mr. Manoj Modi |
|
Designation : |
Exim Head |
MAJOR SHAREHOLDERS
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Sunil Sudhir Kothari |
200000 |
6.67 |
|
Saroj Sudhir Kothari |
2200000 |
73.33 |
|
Ami S. Kothari |
200000 |
6.67 |
|
Sneha Sanjay Kothari |
200000 |
6.67 |
|
Sanju S. Kothari HUF |
200000 |
6.67 |
|
Total |
3000000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Diamond Jewellery, Gold, Silver and Platinum Jewellery.
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Brand Name : |
-- |
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Agency Held : |
-- |
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Exports : |
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Products : |
·
Diamond Jewellery ·
Gold Jewellery ·
Silver Jewellery ·
Platinum Jewellery |
|
Countries : |
· USA ·
Hong Kong ·
Dubai ·
Canada |
|
|
|
|
Imports : |
|
|
Products : |
· Ruff Diamonds ·
Raw Material |
|
Countries : |
· USA ·
Hong Kong ·
Thailand |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
Fair Diam – Hong Kong |
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Customers : |
Allure Gems LLC – USA |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
· Union Bank of India, Princess Street Branch, Devkaran Mansion, Shamaldas Gandhi Marg, Mumbai – 400002, Maharashtra, India Syndicate Bank, IFB Fort, Mumbai, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Lalit Mehta Associates Chartered Accountants |
|
Address : |
5, Bharat House 2nd Floor, Bombay Samachar Marg, Fort, Mumbai, Maharashtra, India |
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PAN No.: |
AACFL5763D |
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Membership : |
-- |
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|
|
|
Associates : |
· Pooja Exports STK Estate Private Limited ·
Arsim Gems ·
Satya Health Farm Private Limited |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
30.000 |
30.000 |
30.000 |
|
(b) Reserves & Surplus |
1224.391 |
1047.143 |
947.346 |
|
(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) |
1254.391 |
1077.143 |
977.346 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
102.844 |
1.735 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.270 |
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) |
103.114 |
1.735 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2636.197 |
1580.775 |
1426.332 |
|
(b) Trade payables |
174.083 |
176.018 |
113.203 |
|
(c) Other current
liabilities |
18.035 |
8.298 |
36.320 |
|
(d) Short-term provisions |
30.000 |
21.335 |
28.599 |
|
Total Current Liabilities (4) |
2858.315 |
1786.426 |
1604.454 |
|
|
|
|
|
|
TOTAL |
4215.820 |
2865.304 |
2581.800 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
32.652 |
36.389 |
31.348 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
204.745 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
10.000 |
10.000 |
10.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.255 |
0.000 |
|
(d) Long-term Loan and Advances |
1.875 |
70.582 |
22.463 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
249.272 |
117.226 |
63.811 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
393.745 |
411.435 |
397.579 |
|
(b) Inventories |
383.277 |
301.968 |
242.831 |
|
(c) Trade receivables |
2823.476 |
1724.411 |
1636.183 |
|
(d) Cash and cash
equivalents |
116.856 |
165.728 |
151.243 |
|
(e) Short-term loans and
advances |
115.970 |
73.680 |
78.866 |
|
(f) Other current assets |
133.224 |
70.856 |
11.287 |
|
Total Current Assets |
3966.548 |
2748.078 |
2517.989 |
|
|
|
|
|
|
TOTAL |
4215.820 |
2865.304 |
2581.800 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
6653.641 |
4272.697 |
3740.594 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
6445.876 |
4170.793 |
3602.079 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
207.765 |
101.904 |
138.515 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
30.517 |
2.107 |
1.078 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
177.248 |
99.797 |
138.437 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
6690.140 |
4275.223 |
2752.033 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
59.08 |
33.27 |
46.15 |
|
Expected Sales (2014-2015): Rs.7500.000 Millions
The above information has been parted by Mr. Manoj Modi (Exim Head)
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
2.66 |
2.34 |
3.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.19 |
3.57 |
5.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.09 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.18 |
1.47 |
1.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.39 |
1.54 |
1.57 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
30.000 |
30.000 |
30.000 |
|
Reserves & Surplus |
947.346 |
1047.143 |
1224.391 |
|
Net
worth |
977.346 |
1077.143 |
1254.391 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
1.735 |
102.844 |
|
Short term borrowings |
1426.332 |
1580.775 |
2636.197 |
|
Total
borrowings |
1426.332 |
1582.510 |
2739.041 |
|
Debt/Equity
ratio |
1.459 |
1.469 |
2.184 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
3740.594 |
4272.697 |
6653.641 |
|
|
|
14.225 |
55.725 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
3740.594 |
4272.697 |
6653.641 |
|
Profit |
138.437 |
99.797 |
177.248 |
|
|
3.70% |
2.34% |
2.66% |
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 |
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 |
Yes |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Loans and advances
from related parties |
0.000 |
0.300 |
|
|
|
|
|
Total |
0.000 |
0.300 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10445826 |
05/08/2013 |
100,000,000.00 |
UNION BANK OF INDIA |
PRINCESS
STREET BRANCH,, DEVKARAN MANSION, SHAMAL |
B83464800 |
|
2 |
10433445 |
15/05/2013 |
172,500,000.00 |
STATE BANK OF INDIA |
STATE BANK OF INDIA INDUSTRIAL FINANCE BRANCH WTC, THE ARCADE 2ND FLOOR CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B78135993 |
|
3 |
10434229 |
09/05/2013 |
172,500,000.00 |
STATE BANK OF INDIA |
STATE BANK OF INDIA INDUSTRIAL FINANCE BRANCH WTC, THE ARCADE 2ND FLOOR CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B78464294 |
|
4 |
10396152 |
03/12/2012 |
3,050,000.00 |
UNION BANK OF INDIA |
PRINCESS
STREET BRANCH,, DEVKARAN MANSION, SHAMAL |
B65583148 |
|
5 |
10024714 |
21/09/2006 |
200,000,000.00 |
SYNDICATE BANK |
INTERNATIONAL BRANCH, HOMJI STREET, MUMBAI, MAHARASHTRA - 400023, INDIA |
A06061444 |
|
6 |
10066118 |
08/06/2013 * |
2,400,000,000.00 |
SYNDICATE BANK |
INTERNATIONAL BUSINESS BRANCH, 10, HOMJI STREET, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
B78970324 |
|
7 |
10009657 |
13/06/2006 |
100,000,000.00 |
SYNDICATE BANK |
INTERNATIONAL BUSINESS BRANCH, 10, HOMJI STREET, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
A02169860 |
*Date of modification Charges
FIXED ASSETS:
v
Tangible
Assets
Buildings
Plant
and Equipment
Furniture
and Fixtures
Vehicles
Motor
Vehicles
Office
Equipment
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the
untiring and unflagging efforts of the Indian diamantaires, supported by
progressive Government policies.
-
The area of study of family owned diamond businesses derives its
importance from the huge conglomerate of family run organizations which operate
in the diamond industry since many generations.
-
Some of the basic traits of family run business enterprises include
spirit of entrepreneurship, mutual trust lowers transaction costs, small,
nimble and quick to react, information as a source of advantage and
philanthropy.
-
Family owned diamond businesses need to improve on many fronts including
higher standard of corporate governance, long-term performance – focused
strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process,
several public sector banks lost several hundred million rupees. They mostly
diverted borrowed money for diamond business into real estate and capital
markets.
-
Excerpts from Times of India dated 30th October 2010 is as
under –
-
Gem & Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A
senior executive of GJEPC said, “Export of cut and polished diamonds started
falling month-wise after the imposition of 2 % of import duty on the polished
diamonds. But February, 2013 has given a new ray of hope to the industry as the
export of polished diamonds has actually increased by 28 %. It means the
industry is on the track of recovery and round tripping of diamonds has
stopped completely.” Demand has started coming from the US, the UK, Japan and
China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
-
The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector. This
follows the implementation of Basel III accord – a global voluntary regulatory
standard on bank capital adequacy, stress testing and market liquidity.
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.61.78 |
|
|
1 |
Rs.96.78 |
|
Euro |
1 |
Rs.76.59 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
46 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NB |
NEW BUSINESS |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.