MIRA
INFORM REPORT
|
Report Date : |
20.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
SANWA DIAMOND TOOLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 7, Narang Chambers, 3rd Floor, Opposite Town Hall, N.
R. Road, Bangalore – 560002, Karnataka |
|
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|
Country : |
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Financials (as
on) : |
31.03.2013 |
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|
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|
Date of
Incorporation : |
31.12.1993 |
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|
|
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Com. Reg. No.: |
08-015088 |
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Capital Investment
/ Paid-up Capital : |
Rs. 5.138 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U85110KA1993PTC015088 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS04199G |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Diamond Cutting Tools, Stone Cutting Tools and Diamond
Tools. |
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|
No. of Employees
: |
130 (Approximately) |
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 1092000 |
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|
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|
Status : |
Satisfactory |
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|
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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. Profit of the company has declined during financial year 2013. However, general financial position of the company seems to be sound.
Liquidity position of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict
Implications: Apex court order may alter coal import dynamics. Traders go slow
on talks over coal supply contracts, uncertainty over cancellation of blocks
weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of Investigation
books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
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. Balaji |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-080-22234891 |
LOCATIONS
|
Registered Office : |
No. 7, Narang Chambers, 3rd Floor, Opposite Town Hall, N.
R. Road, Bangalore - 560002, Karnataka, India |
|
Tel. No.: |
91-80-23320288/22234891/2234749 |
|
Fax No.: |
91-80-22278269 |
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E-Mail : |
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|
Website : |
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|
|
|
Corporate Office : |
My |
|
Tel. No.: |
91-80-22234891 / 41531160 |
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Fax No.: |
91-80-22278269 |
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E-Mail : |
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|
Website : |
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Factory: |
No. 30 to 34 and 39, KIADB Industrial Area, Sqmahali Maddur Taluka,
Mandya District, Karnataka, India |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Anjan Ramchandran Salgame |
|
Designation : |
Managing Director |
|
Address : |
No. 1303, Sai Nivas, 32 F Cross, Jayanagar, |
|
Date of Birth/Age : |
22.02.1958 |
|
Date of Appointment : |
31.12.1993 |
|
DIN No. : |
01957098 |
|
|
|
|
Name : |
Mr. Perumalapalli Raju |
|
Designation : |
Director |
|
Address : |
No. 108, Dheeraj Manor, 24 Kensington road, Ulsoor, |
|
Date of Birth/Age : |
04.12.1967 |
|
Date of Appointment : |
31.12.1993 |
|
DIN No. : |
00770053 |
|
|
|
|
Name : |
Ms. Geetha Salgame |
|
Designation : |
Director |
|
Address : |
No. 1303, Sai Nivas, 32 F Cross, Jayanagar, |
|
Date of Birth/Age : |
24.01.1964 |
|
Date of Appointment : |
29.11.1996 |
KEY EXECUTIVES
|
Name : |
Mr. Balaji |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
A R Salgame |
16919 |
|
P Raju |
6359 |
|
Geetha Salgame |
3282 |
|
Saroja Ramchandran |
1723 |
|
Ansal Granicom Private Limited, |
22477 |
|
Kailas A Salgame |
621 |
|
TOTAL |
51381 |
As on 30.09.2010
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Diamond Cutting Tools, Stone Cutting Tools and Diamond
Tools. |
|
|
|
|
Products : |
·
Diamond Saw Blade ·
Diamond segments ·
Diamond Core Drills ·
Diamond Wire Saws ·
Wall Saw Blades ·
Wire Saw Blades ·
Diamond Wire Rope ·
Bronze Powders |
GENERAL INFORMATION
|
No. of Employees
: |
130 (Approximately) |
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Bankers : |
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Facilities : |
Over
draft Rs. 16.000 Millions Term
Loan Rs. 6.500 Millions (Rs. In
Millions)
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Banking
Relations : |
--- |
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Auditors : |
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|
Name : |
M V R and Company Chartered Accountant |
|
Address : |
890/4/5, 3rd A Main D Block, Rajajinagar, 2nd
Stage, Bangalore – 560010, Karnataka, India |
|
Tel. No.: |
91-80-23320288/23325168 |
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E-Mail : |
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Web Site : |
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PAN No.: |
AADFV7670E |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs. 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
51381 |
Equity Shares |
Rs.100/-
each |
Rs. 5.138 Million |
|
|
|
|
|
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 |
5.138 |
5.138 |
5.138 |
|
(b) Reserves & Surplus |
268.018 |
256.935 |
238.174 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
2.972 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
273.156 |
262.073 |
246.284 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
6.507 |
11.313 |
2.112 |
|
(b) Deferred tax liabilities (Net) |
20.922 |
21.999 |
19.886 |
|
(c) Other long term liabilities |
0.150 |
0.000 |
4.038 |
|
(d) long-term provisions |
2.398 |
2.260 |
1.185 |
|
Total Non-current Liabilities (3) |
29.977 |
35.572 |
27.221 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
19.673 |
14.850 |
16.334 |
|
(b) Trade payables |
12.457 |
12.169 |
31.317 |
|
(c) Other current
liabilities |
8.621 |
19.247 |
10.813 |
|
(d) Short-term provisions |
7.041 |
11.356 |
7.637 |
|
Total Current Liabilities (4) |
47.792 |
57.622 |
66.101 |
|
|
|
|
|
|
TOTAL |
350.925 |
355.267 |
339.606 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
0.000 |
0.000 |
0.000 |
|
(i) Tangible assets |
165.472 |
170.521 |
151.363 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
3.380 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
58.957 |
57.399 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.459 |
|
(d) Long-term Loan and Advances |
11.086 |
8.022 |
14.086 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
235.515 |
235.942 |
169.288 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
75.525 |
|
(b) Inventories |
28.669 |
23.670 |
21.097 |
|
(c) Trade receivables |
62.265 |
72.943 |
56.596 |
|
(d) Cash and cash
equivalents |
12.765 |
14.644 |
17.100 |
|
(e) Short-term loans and
advances |
11.437 |
7.794 |
0.000 |
|
(f) Other current assets |
0.274 |
0.274 |
0.000 |
|
Total Current Assets |
115.410 |
119.325 |
170.318 |
|
|
|
|
|
|
TOTAL |
350.925 |
355.267 |
339.606 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operation |
234.007 |
230.693 |
207.000 |
|
|
|
Other Income |
10.182 |
11.241 |
14.527 |
|
|
|
TOTAL (A) |
244.189 |
241.934 |
221.527 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
0.000 |
0.000 |
113.428 |
|
|
|
Operating Cost |
141.415 |
131.814 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(4.261) |
(2.221) |
(3.009) |
|
|
|
Employees benefits expense |
17.341 |
16.566 |
16.825 |
|
|
|
Other expenses |
62.479 |
56.462 |
53.892 |
|
|
|
TOTAL (B) |
216.974 |
202.621 |
181.136 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
27.215 |
39.313 |
40.391 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.242 |
3.488 |
2.295 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
23.973 |
35.825 |
38.096 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
10.941 |
10.265 |
9.521 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
13.032 |
25.560 |
28.575 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.949 |
6.799 |
5.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
11.083 |
18.761 |
22.975 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
195.527 |
176.766 |
195.527 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
206.610 |
195.527 |
176.766 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
215.70 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.54 |
7.75 |
10.37 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.57 |
11.08 |
13.80 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.46 |
8.58 |
8.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.10 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.10 |
0.10 |
0.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.41 |
2.07 |
2.58 |
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 |
5.138 |
5.138 |
5.138 |
|
Reserves & Surplus |
238.174 |
256.935 |
268.018 |
|
Share application money
pending allotment |
2.971 |
0.000 |
0.000 |
|
Net
worth |
243.312 |
262.073 |
273.156 |
|
|
|
|
|
|
long-term borrowings |
2.112 |
11.313 |
6.507 |
|
Short term borrowings |
16.334 |
14.850 |
19.673 |
|
Total
borrowings |
18.446 |
26.163 |
26.180 |
|
Debt/Equity
ratio |
0.076 |
0.100 |
0.096 |
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 |
207.000 |
230.693 |
234.007 |
|
|
|
11.446 |
1.437 |
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 |
207.000 |
230.693 |
234.007 |
|
Profit |
22.975 |
18.761 |
11.083 |
|
|
11.10% |
8.13% |
4.74% |
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 four 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 |
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 |
No |
UNSECURED
LOAN
(Rs. In Millions)
|
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.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10497138 |
21/03/2014 |
2,398,000.00 |
ADITYA BIRLA FINANCE LIMITED |
INDIAN RAYON COMPOUND, VERAVAL, GUJARAT - 362266, INDIA |
C03608809 |
|
2 |
10009458 |
22/07/2011 * |
34,600,000.00 |
STATE BANK OF INDIA |
BANGALORE CITY BRANCH, NO.22, J. C. ROAD, BANGALORE, KARNATAKA - 560002, INDIA |
B19517028 |
|
3 |
80055483 |
12/06/2003 |
4,000,000.00 |
STATE BANK OF INDIA |
BANGALORE COMMERCIAL BRANCH, HUDSON CIRCLE, BANGALORE, KARNATAKA - 560002, INDIA |
- |
|
4 |
80054941 |
12/09/2001 |
6,500,000.00 |
STATE BANK OF INDIA |
HUDSON CIRCLE, BANGALORE, KARNATAKA - 560001, INDIA |
- |
|
5 |
90196403 |
16/09/2004 * |
6,500,000.00 |
STATE BANK OF INDIA |
BANGALORE COMMERCIAL BRANCH, KRISHI BHAVAN; HUDSON CIRCLE, BANGALORE, KARNATAKA - 560001, INDIA |
- |
|
6 |
80055484 |
09/11/1994 |
1,380,000.00 |
STATE BANK OF INDIA |
BANGALORE CITY BRANCH, J.C.ROAD, BANGALORE, KARNATAKA - 560002, INDIA |
- |
|
7 |
80055485 |
09/08/1994 |
500,000.00 |
STATE BANK OF INDIA |
BANGALORE CITY BRANCH, J.C.ROAD BRANCH, BNGALORE, |
- |
*Date of charge modification
FIXED ASSETS
·
Plant & Machinery
·
Land
·
Building
·
Office Equipments
·
Furniture and Fixture
·
Vehicle
·
Computer
·
Borewell
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.60.81 |
|
|
1 |
Rs.100.06 |
|
Euro |
1 |
Rs.78.47 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
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.