MIRA
INFORM REPORT
|
Report Date : |
16.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
ANCHOR
OFFSHORE SERVICES LIMITED (w.e.f. 27.05.2009) |
|
|
|
|
Formerly Known
As : |
ANCHOR
EQUIPMENT AND SPARES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
771, Hico House, Ground Floor, North Wing, Pt Satavale, Marg, Mahim,
Mumbai – 400016, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.01.1994 |
|
|
|
|
Com. Reg. No.: |
11-076014 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 13.381 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U93000MH1994PLC076014 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
EPC service provider and Equipment supplier to the Oil
& Gas, Defence and Shipbuilding Industries. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 440000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Trade relations are fair. Business is active. Payment terms are
reported as slow but correct. The company can be considered 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
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 illfully 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 |
NSIC : SE 2B |
|
Rating Explanation |
Moderate financial strength and high performance capability |
|
Date |
18.02.2013 |
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 Cooperative (91-22-40581818)
LOCATIONS
|
Registered Office / Corporate Office : |
771, Hico House, Ground Floor, North Wing, Pt Satavale, Marg, Mahim,
Mumbai – 400016, Maharashtra, India |
|
Tel. No.: |
91-22-40581818 / 1919, 24375915 |
|
Fax No.: |
91-22-24379207 / 24314614 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
North Region : |
1680/2, Goving Puri Ext., Kalkaji, |
|
E-Mail : |
|
|
|
|
|
Workshop 1 : |
D331/332, T.T.C Industrial Area M.I.D.C., Turbhe, Navi
Mumbai - 400 613, |
|
Tel. No.: |
91-22-27680637 / 55901172 |
|
Fax No.: |
91-22-2761 0391 |
|
|
|
|
Workshop 2 : |
Khalapur Industrial estate, Thane, Mumbai, |
|
|
|
|
Overseas Office : |
Located at ·
·
·
|
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Narothamdas Damodar Channilo |
|
Designation : |
Director |
|
Address : |
B1, Rasmdom, Sitala Devi Temple Road, Mahin, Mumbai – 400016,
Maharashtra, India |
|
Date of Birth/Age : |
14.11.1957 |
|
Date of Appointment : |
12.11.1994 |
|
DIN No.: |
01844155 |
|
|
|
|
Name : |
Mr. Rajkumar Bamb |
|
Designation : |
Director |
|
Address : |
A/6, Floreana, Sitala Devi Temple Road, Mahin, Mumbai – 400016,
Maharashtra, India |
|
Date of Birth/Age : |
19.06.1965 |
|
Date of Appointment : |
11.08.1997 |
|
DIN No.: |
01862371 |
|
|
|
|
Name : |
Mr. Siddesh Narothamdas Channilo |
|
Designation : |
Director |
|
Address : |
1001, 10 Floor United Heights Satavalekar Marg., Mahin, Mumbai –
400016, Maharashtra, India |
|
Date of Birth/Age : |
19.06.1965 |
|
Date of Appointment : |
11.08.1997 |
|
DIN No.: |
05181966 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Narothamdas D. Chanillo |
|
1013200 |
|
Sujata Chanillo |
|
322700 |
|
Rajkumar Bamb |
|
100 |
|
Joshna Padubidari |
|
100 |
|
Vinay Padubidari |
|
100 |
|
Narothamdas D. Chanillo (HUF) |
|
1700 |
|
Prafulla Bamb |
|
100 |
|
Charulata B.M. |
|
100 |
|
Total |
|
1338100 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
EPC service provider and Equipment supplier to the Oil
& Gas, Defence and Shipbuilding Industries. |
GENERAL INFORMATION
|
Customers : |
·
Oil And Natural Gas Corporation Limited, Mumbai ·
Larsen & Toubro Limited ·
sea Brown Boveri, Mumbai ·
Solar Turbines International Company U.S.A. (web)
·
Hi Point Services
(India) Private Limited Mumbai ·
Mazagon Dock Limited Mumbai ·
Cochin Shipyard Limited Cochin ·
Hindustan Shipyard Limited, Vizarg |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· Standard Chartered Bank, Standard Chartered Tower, 201, B/1, Western Express Tower, Goregaon (East), Mumbai - 400063, Maharashtra, India · Karnataka Bank Limited, Corporate Finance Branch, 294/A Haroon House, Perin Nariman Street, Fort, Mumbai - 400001, Maharashtra, India · Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227,D, Nariman Point,, Mumbai - 400021, Maharashtra, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
V.K. Bukalsaria and Company Chartered Accountants |
|
Address : |
301, Patel Industries Estate, 3rd Floor, Plot No. B-304,
Off Link Road, Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Tel. No.: |
91-22-40165770 |
|
Mobile No.: |
91-9821030979 |
|
Fax No.: |
91-22-40165771 |
|
E-Mail : |
|
|
PAN No.: |
ACKPB2098R |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1338100 |
Equity Shares |
Rs.10/- each |
Rs.13.381
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 |
13.381 |
13.381 |
13.381 |
|
(b) Reserves & Surplus |
98.761 |
82.227 |
64.469 |
|
(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) |
112.142 |
95.608 |
77.850 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
15.765 |
18.109 |
10.036 |
|
(b) Deferred tax liabilities (Net) |
3.461 |
3.291 |
2.346 |
|
(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) |
19.226 |
21.400 |
12.382 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
98.558 |
78.012 |
89.944 |
|
(b) Trade payables |
45.978 |
89.920 |
114.778 |
|
(c) Other current
liabilities |
18.217 |
32.691 |
25.399 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
162.753 |
200.623 |
230.121 |
|
|
|
|
|
|
TOTAL |
294.121 |
317.631 |
320.353 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
66.318 |
63.705 |
49.905 |
|
(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 |
15.347 |
0.025 |
0.025 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.852 |
3.610 |
3.123 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
85.517 |
67.340 |
53.053 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
80.455 |
107.700 |
87.530 |
|
(c) Trade receivables |
93.477 |
107.868 |
151.267 |
|
(d) Cash and cash
equivalents |
22.657 |
16.088 |
14.575 |
|
(e) Short-term loans and
advances |
12.015 |
18.635 |
13.928 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
208.604 |
250.291 |
267.300 |
|
|
|
|
|
|
TOTAL |
294.121 |
317.631 |
320.353 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
404.269 |
551.715 |
284.338 |
|
|
|
Other Income |
6.104 |
2.008 |
1.548 |
|
|
|
TOTAL (A) |
410.373 |
553.723 |
285.886 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
175.406 |
257.191 |
118.617 |
|
|
|
Employees benefits expense |
101.760 |
83.501 |
54.526 |
|
|
|
Other expenses |
90.133 |
164.769 |
81.471 |
|
|
|
TOTAL (B) |
367.299 |
505.461 |
254.614 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
43.074 |
48.262 |
31.272 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
17.317 |
17.447 |
14.876 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
25.757 |
30.815 |
16.396 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.223 |
4.538 |
2.936 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
21.534 |
26.277 |
13.460 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.309 |
8.519 |
4.818 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
15.225 |
17.758 |
8.642 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
26.361 |
33.031 |
1.391 |
|
|
|
|
|
|
|
|
|
|
IMPORTS ON
C.I.F. BASIS |
0.538 |
127.177 |
73.186 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
11.38 |
13.27 |
6.46 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.71 |
3.21 |
3.02 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.33 |
4.76 |
4.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.72 |
8.27 |
4.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.27 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.02 |
1.01 |
1.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28 |
1.25 |
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 |
13.381 |
13.381 |
13.381 |
|
Reserves & Surplus |
64.469 |
82.227 |
98.761 |
|
Net worth |
77.850 |
95.608 |
112.142 |
|
|
|
|
|
|
long-term borrowings |
10.036 |
18.109 |
15.765 |
|
Short term borrowings |
89.944 |
78.012 |
98.558 |
|
Total borrowings |
99.980 |
96.121 |
114.323 |
|
Debt/Equity ratio |
1.284 |
1.005 |
1.019 |
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 |
284.338 |
551.715 |
404.269 |
|
|
|
94.035 |
(26.725) |
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 |
284.338 |
551.715 |
404.269 |
|
Profit |
8.642 |
17.758 |
15.225 |
|
|
3.04% |
3.22% |
3.77% |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
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 |
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long Term
Borrowing |
|
|
|
Narotham Das Chanillo |
0.000 |
1.000 |
|
Sujata N Chanillo |
2.300 |
2.800 |
|
Total |
2.300 |
3.800 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10438832 |
11/07/2013 |
46,000,000.00 |
STANDARD CHARTERED BANK |
STANDARD CHARTERED TOWER, 201, B/1, WESTERN EXPRE |
B80390685 |
|
2 |
10287968 |
28/05/2011 |
7,200,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D,, NARIMAN POINT,, MUMBAI, MAHARASHTRA -400021, INDIA |
B13363536 |
|
3 |
10098047 |
24/01/2014 * |
384,500,000.00 |
KARNATAKA BANK LIMITED |
CORPORATE FINANCE BRANCH, 294/A HAROON HOUSE, PER |
B96062021 |
|
4 |
10077425 |
13/09/2007 |
15,000,000.00 |
THE KARNATAKA BANK LIMITED |
FORT BRANCH, 294/A, HAROON HOUSE,, PERIN NARIMAN |
A27450592 |
|
5 |
10081029 |
12/03/2008 * |
30,000,000.00 |
KARNATAKA BANK LIMITED |
FORT BRANCH, 294/A HAROON HOUSE, PERIN NARIMAN STREET, FORT, MAHARASHTRA - 400001, INDIA |
A36495760 |
|
6 |
90164324 |
04/11/2004 * |
6,000,000.00 |
THE KARNATKA BANK LIMITED |
FORT BRANCH, MUMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
7 |
90161025 |
25/03/2009 * |
80,000,000.00 |
KARNATAKA BANK LIMITED |
FORT BRANCH, 294/A, HAROON HOUSE, PERIN NARIMAN STREET, BEHIND RBI, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A59468843 |
|
8 |
90164039 |
01/06/2000 |
2,500,000.00 |
THE KARNATAKA BANK LIMITED |
294; HAROON HOUSE, NARIMAN STREET, BOMBAY, MAHARASHTRA, INDIA |
- |
|
9 |
90166934 |
25/03/2009 * |
30,000,000.00 |
KARNATAKA BANK LIMITED |
FORT BRANCH, 294/A, HAROON HOUSE, PERIN NARIMAN STREET, BEHIND RBI, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A59468447 |
|
10 |
90163976 |
25/01/2000 |
1,500,000.00 |
ORIENTAL BANK OF COMMERCE |
MUMBAI, MUMBAI, MAHARASHTRA - 400002, INDIA |
- |
|
11 |
90165356 |
25/01/2000 |
2,000,000.00 |
ORIENTAK BANK OF COMMERCE |
KALBADEVI BRANCH, MUMBAI, MAHARASHTRA - 400002, INDIA |
- |
|
12 |
90163919 |
22/09/1999 |
200,000.00 |
THESHAMRAO VITHAL CO-OP BANK LIMITED |
MATUNGA, MUMBAI, MAHARASHTRA - 400016, INDIA |
- |
* Date of charge modification
FIXED ASSETS
·
Computer
·
Furniture and Fixtures
·
Office Equipment
·
Motor Car
·
Air conditioner
·
Generator
·
Office Premiuses
·
Welding Machinery
·
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,
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 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.60.99 |
|
|
1 |
Rs.99.10 |
|
Euro |
1 |
Rs.79.03 |
INFORMATION DETAILS
|
Information
Gathered by : |
HET |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
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 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
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.