MIRA
INFORM REPORT
|
Report Date : |
18.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
SOFTCELL TECHNOLOGIES LIMITED (w.e.f. 08.01.2001) |
|
|
|
|
Formerly Known
As : |
SOFTCELL TRADE AND
TECHNOLOGIES LIMITED |
|
|
|
|
Registered
Office : |
303-304, 3rd
Floor, Kohinoor City, Commercial Complex, I. B. Wing, Kirol Road, Off L.B.S.
Marg, Kurla (West), Mumbai - 400070, Maharashtra |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
10.04.1995 |
|
|
|
|
Com. Reg. No.: |
11-087330 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.41.642 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74210MH1995PLC087330 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS37242C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS0965J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Software and services
business, addressing the PC and networks space. |
|
|
|
|
No. of Employees
: |
Information declined by management |
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 |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. The management has incurred minimal loss from its operations due to
prevailing market conditions and regulatory changes during the year under
review. However the company possesses an above average financial profile
marked by favorable networth and no long term external borrowings recorded in
the books during 2013. Trade relations are fair. Business is active. Payment terms are
reported as 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.
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED
MANAGEMENT NON – CO-OPERATIVE (91-22-66006700)
LOCATIONS
|
Registered Office : |
303-304, 3rd Floor, Kohinoor City, Commercial Complex, I.
B. Wing, Kirol Road, Off L.B.S. Marg, Kurla (West), Mumbai - 400070,
Maharashtra, India |
|
Tel. No.: |
91-22-66006700 / 24606969 |
|
Fax No.: |
91-22-66006701 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
504, Mayfair Towers, 28,
Mumbai-Pune Road, Wakdewadi, Pune -
411005 |
|
Tel. No.: |
91-20-6600-6700 |
|
Fax No.: |
91-20-6600-6701 |
|
|
|
|
Branch Office : |
Located at · Chennai Bangalore Hyderabad Pune Ahmedabad New Delhi |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Sunil Pandurang Dalal |
|
Designation : |
Chairman, Managing Director |
|
Address : |
Flat No1, Sharad Vaibhav Appt, Gokhale Cross Road, Model Colony, Pune
– 411016, Maharashtra, India |
|
Date of Birth/Age : |
24.05.1963 |
|
Qualification : |
MMS Finance |
|
Date of Appointment : |
10.04.1995 |
|
PAN No.: |
ADWPD4013B |
|
DIN No.: |
00232753 |
|
|
|
|
Name : |
Mr. Harish Chandrashekar Aiyer |
|
Designation : |
Whole Time Director |
|
Address : |
303, Ratnasagar, Sector 29, Vashi, Navi Mumbai-400703, Maharashtra, India |
|
Date of Birth/Age : |
06.11.1962 |
|
Qualification : |
MBA Marketing and Systems |
|
Date of Appointment : |
10.04.1995 |
|
PAN No.: |
AABES1218C |
|
DIN No.: |
00233168 |
|
|
|
|
Name : |
Mr. Dasharathi Heramagalur Venkatesh |
|
Designation : |
Whole Time Director |
|
Address : |
A5, Paradise Towers, 2/1, Baner Road Baner, Pune - 400059, Maharashtra, India |
|
Date of Birth/Age : |
08.07.1963 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
10.04.1995 |
|
PAN No.: |
ACJPV1698L |
|
DIN No.: |
02391495 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Sunil Pandurang Dalal |
1491004 |
|
Sharayu Pandurang Dalal |
400 |
|
Ujwal Narayan Andhari |
218490 |
|
Sanjoy T Roy |
85152 |
|
Dasharathi Heramagalur Venkatesh |
565000 |
|
Harish Chandrashekar Aiyer |
80814 |
|
Debashish Sateyndra Basu |
10400 |
|
Praveen Suryakant Sawant |
80814 |
|
Jayant Kadambi |
62500 |
|
L R Narayanan |
40000 |
|
Sunil P Dalal Raghunath P Gawde Softcell Employee Trust |
414500 |
|
HDFC Bank Limited, India |
499702 |
|
Housing Development Finance Corporation Limited, India |
499702 |
|
Deepak Parekh Vinod Yennemadi S. S Thakar HDFC Welfare Employee Trust |
83285 |
|
Mukesh Babu Financial Services Limited, India |
5000 |
|
Hansa Parimal Parekh |
3200 |
|
Balance Equity Broking India Private Limited, India |
9800 |
|
Raghunath
Pandurang Gawde |
4925 |
|
Premananth
Pitchamuthu |
2250 |
|
Sai Gopal
Pullabhatla |
2000 |
|
Veeraragvan
Gopalan |
1500 |
|
Rajaraman
Parasuraman |
1000 |
|
Gandhali Neeraj
More |
500 |
|
Shrinivas Ramkrishna Patankar |
2250 |
|
Total |
4164188 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Nationalised of
other banks |
12.00 |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
1.50 |
|
Bodies corporate |
12.36 |
|
Directors or relatives of Directors |
51.57 |
|
Other top fifty shareholders |
22.57 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Software and
services business, addressing the PC and networks space. |
||||
|
|
|
||||
|
Products : |
· Software Licensing System Integration and Networking Infrastructure Services Internet Hosting services IT Security Engineering Services Application Lifecycle Management and Lifecycle Quality
Management |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
· HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India The Shamrao Vithal Co-operative Bank Limited, 5, Kanara
House, Mogal Lane, Mahim, Mumbai - 400016, Maharashtra, India |
|||||||||||||||
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|
|||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BBSR and Company Charted Accountant |
|
Address : |
703, 7th floor,
Godrej Castlemaine, Next to Ruby Hall Clinic, Bund Garden Road, Pune –
411001, Maharashtra, India |
|
PAN
No. : |
AAKFB4397F |
|
|
|
|
Related Parties : |
· Housing Development Finance Corporation Limited, India CIN No.:
L70100MH1977PLC019916 HDFC Bank Limited, India CIN No.:
L65920MH1994PLC080618 HDFC Securities Limited, India CIN No.:
U67120MH2000PLC152193 Moneylife Smart Savers Network Private Limited
CIN No. : U74120MH2011PTC214195 Software
Consultancy International Limited CIN No. :
U72900MH1995PLC085728 |
|
|
|
|
Subsidiary : |
· IT Secure Software Private Limited CIN No. :
U72200MH1998PTC114100 |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4164188 |
Equity Shares |
Rs.10/- each |
Rs.41.642 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 |
41.642 |
41.642 |
41.642 |
|
(b) Reserves & Surplus |
588.964 |
614.695 |
174.138 |
|
(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) |
630.606 |
656.337 |
215.780 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
5.197 |
8.318 |
5.082 |
|
(c) Other long term liabilities |
50.000 |
50.000 |
0.000 |
|
(d) long-term provisions |
6.222 |
4.316 |
3.178 |
|
Total Non-current Liabilities (3) |
61.419 |
62.634 |
8.260 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
30.107 |
37.547 |
30.838 |
|
(b) Trade payables |
221.598 |
211.224 |
789.156 |
|
(c) Other current liabilities |
26.010 |
37.296 |
55.754 |
|
(d) Short-term provisions |
24.963 |
24.199 |
152.897 |
|
Total Current Liabilities (4) |
302.678 |
310.266 |
1,028.645 |
|
|
|
|
|
|
TOTAL |
994.703 |
1,029.237 |
1,252.685 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
90.024 |
108.087 |
48.455 |
|
(ii) Intangible Assets |
12.451 |
14.832 |
5.452 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.032 |
0.032 |
2.540 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
509.657 |
586.539 |
95.819 |
|
(e) Other Non-current assets |
0.929 |
0.321 |
0.000 |
|
Total Non-Current Assets |
613.093 |
709.811 |
152.266 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
2.971 |
2.700 |
0.000 |
|
(b) Inventories |
8.530 |
10.934 |
4.235 |
|
(c) Trade receivables |
283.038 |
226.914 |
269.861 |
|
(d) Cash and cash equivalents |
41.159 |
38.305 |
44.809 |
|
(e) Short-term loans and
advances |
45.912 |
40.573 |
781.514 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
381.610 |
319.426 |
1,100.419 |
|
|
|
|
|
|
TOTAL |
994.703 |
1,029.237 |
1,252.685 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1432.399 |
1330.938 |
1402.551 |
|
|
|
Other Income |
23.796 |
24.016 |
36.346 |
|
|
|
TOTAL (A) |
1456.195 |
1354.954 |
1438.897 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
1118.550 |
1053.202 |
1094.568 |
|
|
|
Employee benefit expense |
155.922 |
170.412 |
140.165 |
|
|
|
Other expenses |
139.757 |
166.362 |
119.860 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
2.403 |
(6.699) |
0.646 |
|
|
|
Extraordinary
Items |
0.000 |
(543.320) |
0.000 |
|
|
|
TOTAL (B) |
1416.632 |
839.957 |
1355.239 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) |
39.563 |
514.997 |
83.658 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.125 |
4.451 |
3.623 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
35.438 |
510.546 |
80.035 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
34.687 |
21.794 |
16.239 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
0.751 |
488.752 |
63.796 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.283 |
24.006 |
25.698 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(1.532) |
464.746 |
38.098 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
467.972 |
77.415 |
70.415 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
|
|
50.000 |
6.900 |
|
|
|
Dividend |
|
20.821 |
20.820 |
|
|
|
Tax on Dividend |
|
3.378 |
3.378 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
467.972 |
77.415 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
0.000 |
14.284 |
|
|
TOTAL EARNINGS |
NA |
0.000 |
14.284 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(0.37) |
111.61 |
9.15 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(0.10)
|
34.30 |
2.65 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.05
|
39.72 |
4.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.07
|
47.49 |
5.10 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.74 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.05
|
0.06 |
0.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26
|
1.03 |
1.07 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
41.642 |
41.642 |
41.642 |
|
Reserves & Surplus |
174.138 |
614.695 |
588.964 |
|
Net
worth |
215.780 |
656.337 |
630.606 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
30.838 |
37.547 |
30.107 |
|
Total
borrowings |
30.838 |
37.547 |
30.107 |
|
Debt/Equity
ratio |
0.143 |
0.057 |
0.048 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
1402.551 |
1330.938 |
1432.399 |
|
|
|
(5.106) |
7.623 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
1402.551 |
1330.938 |
1432.399 |
|
Profit |
38.098 |
464.746 |
(1.532) |
|
|
2.72% |
34.92% |
(0.11%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
Current maturities of long-term debt |
0.000 |
8.706 |
1.755 |
|
|
|
|
|
|
Total |
0.000 |
8.706 |
1.755 |
|
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE:
The registered address of the company has been shifted from 301
Prabhadevi Indl Estate, 408 Veer Saverkar Marg, Prabhadevi Mumbai – 400025,
Maharashtra, India to the present address w.e.f. 01.04.2012
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10077287 |
02/07/2013 * |
86,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI - 400013,
MAHARASHTRA, INDIA |
B78637436 |
* Date of charge modification
FIXED ASSETS
· Office Building
Furniture
and Fixtures
Vehicles
Office
Equipments
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 records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.95 |
|
|
1 |
Rs.99.32 |
|
Euro |
1 |
Rs.78.96 |
INFORMATION DETAILS
|
Information Gathered
by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
ANK |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
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 |
|
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.