MIRA
INFORM REPORT
|
Report Date : |
03.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
SRI CITY Private LIMITED (w.e.f.
19.06.2007) |
|
|
|
|
Formerly Known
As : |
Sathyavedu reserve infracity private limited |
|
|
|
|
Registered
Office : |
No.85, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
27.09.2005 |
|
|
|
|
Com. Reg. No.: |
18-057627 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.215.294 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45201TN2005PTC057627 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJCS8887M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is a Developer of Special Economic Zone (SEZ)
& Domestic Tariff Zone (DTZ) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 9300000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a fine track record. Financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are
regular and as per commitments. 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) |
|
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
As per the latest IMF study, the total weigh of emerging markets in the GDP
of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BBB |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
01.08.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED
Management Non Co-operative (91-44-39402000)
LOCATIONS
|
Registered Office : |
No.85, Kutchery Road, Mylapore, Chennai – 600004, Tamilnadu, India |
|
Tel. No.: |
91-44-39402000 |
|
Fax No.: |
91-44-39402100 |
|
E-Mail : |
nagarajan@sricity.in |
|
Website : |
|
|
|
|
|
Administrative Office : |
|
|
Tel No. : |
91-40-44330000 |
|
|
|
|
Factory : |
Business Centre, Procesing Area Sri City SEZ, Satyavedu, Chittor
District – 517588, |
DIRECTORS
As on 27.09.2013
|
Name : |
Mr. Ravindra Babu Sannareddy |
|
Designation : |
Director |
|
Address : |
New No.4 Old No.9, 24th |
|
Date of Birth/Age : |
10.07.1963 |
|
Date of Appointment : |
27.09.2005 |
|
DIN No.: |
00047652 |
|
|
|
|
Name : |
Mr. Sudhakar Reddy Duvvur |
|
Designation : |
Director |
|
Address : |
P4C2A LA, Celeste fountainebleav Precinct 4, Rajarajeswari
Nagar, Nethaji St , Madanandapuram, Porur, Chennai – 600015, Tamilnadu, India |
|
Date of Birth/Age : |
15.06.1958 |
|
Date of Appointment : |
07.03.2006 |
|
DIN No.: |
00047707 |
|
|
|
|
Name : |
Mr. Mukunda Reddy Pocha Reddy |
|
Designation : |
Director |
|
Address : |
Kuttuvapalli (Village), Manubolu Mandalam, Nellore District, |
|
Date of Birth/Age : |
10.08.1965 |
|
Date of Appointment : |
01.03.2007 |
|
DIN No.: |
00085085 |
|
|
|
|
Name : |
Mr. Shrinivasa Chintalapati Raju |
|
Designation : |
Director |
|
Address : |
Plot No. 1317, Road No. 66, Jubilee Hills, |
|
Date of Birth/Age : |
15.07.1961 |
|
Date of Appointment : |
25.09.2007 |
|
DIN No.: |
00060270 |
|
|
|
|
Name : |
Mr. Zoltan Varga |
|
Designation : |
Director |
|
Address : |
Chateau de Peak, |
|
Date of Birth/Age : |
25.02.1974 |
|
Date of Appointment : |
21.10.2009 |
|
DIN No.: |
01336565 |
|
|
|
|
Name : |
Mr. Sundareswaran Sri Shankar |
|
Designation : |
Director |
|
Address : |
A 001/101, Iris Block 1, Springfields Apartments, |
|
Date of Birth/Age : |
30.09.1970 |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
03011927 |
|
|
|
|
Name : |
Mr. C. K. Kartheek Raju |
|
Designation : |
Director |
|
Address : |
Plot No. 1317, Road No. 66, Jubilee Hills, |
|
Date of Birth/Age : |
16.05.1987 |
|
Date of Appointment : |
03.05.2013 |
|
DIN No.: |
02921819 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
S. Ravindrababu |
|
10000 |
|
S. Ravindrababu HUF |
|
1513572 |
|
Chintalapati Holdings Private Limited, India |
|
7994857 |
|
G.V. Kumar |
|
89686 |
|
Ink Reality Projects Private Limited, India |
|
269058 |
|
Innovative Water Solutions Limited, India |
|
203000 |
|
PVS Suryanarayana Raju, India |
|
45000 |
|
T Sunil Reddy |
|
40000 |
|
D Sudhakar Reddy |
|
20000 |
|
S Rajagopal Reddy |
|
63608 |
|
Sannareddy Holdings Private Limited, India |
|
1106223 |
|
Anuradha Reddy |
|
211821 |
|
Annamreddy Venkata Ramesh |
|
26175 |
|
Bedrock Infrastructure Capital LLC, USA |
|
2682000 |
|
AMIF Re Investments X Limited, Mauritius |
|
3529413 |
|
iLabs Hyderabad Technology Centre Private Limited, India |
|
3725001 |
|
Total |
|
21529414 |
As on 27.09.2013
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 |
29.83 |
|
Bodies corporate |
61.77 |
|
Directors or relatives of Directors |
7.47 |
|
Other top fifty shareholders |
0.93 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is a Developer of Special Economic Zone (SEZ) & Domestic Tariff Zone (DTZ) |
||||
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|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
|
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|||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
S R Batliboi and Associates Chartered Accountants |
|
Address : |
6th and 7th Floor - A Block, Tidel Park, (Module 601, 701
and 702), No.4, Rajiv Gandhi Salai, Taramani, Chennai – 600113, Tamilnadu,
India |
|
PAN No.: |
AABFS3421N |
|
|
|
|
Holding Company : |
Chintalapati Holdings Private Limited |
|
|
|
|
Subsidiary : |
Sricity Projects Private Limited (w.e.f 3rd October, 2012) |
|
|
|
|
Fellow subsidiary |
· iLabs Info Technology Centre (Gurgaon) Private Limited · Scorpio Biosolutions Private Limited · Solar Intergration System India Private Limited · Nimbha Biotech Private Limited |
|
|
|
|
Enterprises under
common control |
· Megasoft Limited · SRB Infrastructure Private Limited · Sricity Foundation · Sri Power Generation (India) Private Limited · Sri City Holdings India Private Limited |
CAPITAL STRUCTURE
As on 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21529414 |
Equity Shares |
Rs.10/- each |
Rs.215.294 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 |
215.294 |
215.294 |
215.294 |
|
(b) Reserves & Surplus |
2127.025 |
2478.625 |
2417.963 |
|
(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) |
2342.319 |
2693.919 |
2633.257 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
653.737 |
1131.488 |
1171.144 |
|
(b) Deferred tax liabilities (Net) |
5.350 |
11.635 |
4.631 |
|
(c) Other long term liabilities |
922.035 |
916.723 |
909.379 |
|
(d) long-term provisions |
8.669 |
2.249 |
0.000 |
|
Total Non-current Liabilities (3) |
1589.791 |
2062.095 |
2085.154 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1533.964 |
360.014 |
187.528 |
|
(b) Trade payables |
60.418 |
38.124 |
31.799 |
|
(c) Other current
liabilities |
882.844 |
543.256 |
156.935 |
|
(d) Short-term provisions |
0.235 |
1.089 |
2.394 |
|
Total Current Liabilities (4) |
2477.461 |
942.483 |
378.656 |
|
|
|
|
|
|
TOTAL |
6409.571 |
5698.497 |
5097.067 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
173.390 |
128.012 |
124.660 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.117 |
|
(iii) Capital
work-in-progress |
126.566 |
22.503 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
10.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
161.699 |
10.247 |
4.155 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
471.655 |
160.762 |
128.932 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.681 |
0.754 |
0.922 |
|
(b) Inventories |
4866.397 |
4866.477 |
4580.721 |
|
(c) Trade receivables |
84.115 |
22.979 |
5.828 |
|
(d) Cash and cash
equivalents |
57.684 |
108.006 |
37.567 |
|
(e) Short-term loans and
advances |
907.498 |
491.566 |
343.015 |
|
(f) Other current assets |
21.541 |
47.953 |
0.082 |
|
Total Current Assets |
5937.916 |
5537.735 |
4968.135 |
|
|
|
|
|
|
TOTAL |
6409.571 |
5698.497 |
5097.067 |
ROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
992.940 |
656.650 |
228.530 |
|
|
|
Other Income |
5.320 |
2.290 |
1.500 |
|
|
|
TOTAL |
998.260 |
658.940 |
230.030 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
808.390 |
550.200 |
200.360 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
808.390 |
550.200 |
200.360 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
189.870 |
108.740 |
29.670 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
16.900 |
14.740 |
13.280 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
172.970 |
94.000 |
16.390 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
39.470 |
33.340 |
(87.900) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
133.500 |
60.660 |
104.290 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Purchase of construction materials |
3.508 |
2.010 |
NA |
|
|
|
Purchase of capital goods |
91.851 |
0.000 |
NA |
|
|
TOTAL IMPORTS |
95.359 |
2.010 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.20 |
2.82 |
4.84 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
13.37 |
9.21 |
45.34 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
17.42 |
14.32 |
7.17 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.76 |
1.66 |
0.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.03 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.93 |
0.55 |
0.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.40 |
5.88 |
13.12 |
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 |
215.294 |
215.294 |
215.294 |
|
Reserves & Surplus |
2417.963 |
2478.625 |
2127.025 |
|
Net worth |
2633.257 |
2693.919 |
2342.319 |
|
|
|
|
|
|
long-term borrowings |
1171.144 |
1131.488 |
653.737 |
|
Short term borrowings |
187.528 |
360.014 |
1533.964 |
|
Total borrowings |
1358.672 |
1491.502 |
2187.701 |
|
Debt/Equity ratio |
0.516 |
0.554 |
0.934 |
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 |
228.530 |
656.650 |
992.940 |
|
|
|
187.336 |
51.213 |
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 |
228.530 |
656.650 |
992.940 |
|
Profit |
104.290 |
60.660 |
133.500 |
|
|
45.64% |
9.24% |
13.44% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
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 |
---------------------- |
|
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 |
NATURE OF OPERATIONS
Subject is engaged in developing a Multi-product Special Economic Zone and Domestic Tariff Zone in the state of Andhra Pradesh. The Company received approval from the Government of India vide letter dated June 25, 2007 for developing, operating and maintaining the Multi-product SEZ and Domestic Tariff Zone in terms of the Special Economic Zone Act, 2005 and the rules made there under.
REVIEW OF THE PROJECT
During the year, the company has added valuable customers and the progress is quite encouraging. In addition to Japanese and South East Asian Countries? clients, FMCG Companies from USA have evinced better interest in the project.
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long-term
borrowings |
|
|
|
Fully convertible debentures banks |
0.000 |
499.999 |
|
Short-term
borrowings |
|
|
|
Non-convertible debentures others |
985.100 |
0.000 |
|
Total |
985.100 |
499.999 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10509348 |
22/05/2014 |
1,050,000,000.00 |
SYNDICATE BANK |
DARGAMITTA BRANCH, NEAR K V R PETROL BUNK, NELLORE, ANDHRA PRADESH - 524003, INDIA |
C11538659 |
|
2 |
10491003 |
22/03/2014 |
1,335,000,000.00 |
INDIAN OVERSEAS BANK |
AURAS CORPORATE CENTRE, POST BAG NO.351, DR. RADHA |
C03546652 |
|
3 |
10389391 |
21/02/2014 * |
300,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, NO. 86, RAJAJI SALAI,, CHENNAI, |
B98033277 |
|
4 |
10164905 |
19/03/2013 * |
700,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, NO.86.RAJAJI SALAI, CHENNAI, TAMILNADU - 600001, INDIA |
B73093551 |
* Date of charge modification
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
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.60.61 |
|
|
1 |
Rs.100.48 |
|
Euro |
1 |
Rs.79.56 |
INFORMATION DETAILS
|
Information
Gathered by : |
HEN |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.