MIRA
INFORM REPORT
|
Report Date : |
25.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
SOKTAS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. T-8, Kagal Hatkanangle, Five Star MIDC, Kasba Sangaon, Taluka
Kagal, Kolhapur – 416217, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
15.02.2007 |
|
|
|
|
Com. Reg. No.: |
11-133637 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1130.905 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24233PN2007PTC133637 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in Manufacturing and Sales of Grey and Dyed Shirting Fabrics. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2800000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record, The rating is constrained on account of company’s moderate financial
risk profile and huge accumulated losses incurred by the company. However, trade relations are fair. Business is active. Payment are
reported to be slow but correct. The company can be considered for business dealing with some caution. |
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
11.03.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A3 |
|
Rating Explanation |
Moderate degree of safety and high credit risk. |
|
Date |
11.03.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED
Management non Cooperative (91-217-2357274)
LOCATIONS
|
Registered Office : |
Plot No. T-8, Kagal Hatkanangle, Five Star MIDC, Kasba Sangaon, Taluka
Kagal, Kolhapur – 416217, Maharashtra, India |
|
Tel. No.: |
91-231-2315121 |
|
Fax No.: |
91-231-2315122 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
T-8, Kagal Hathkanangale, 5 Star MIDC, At Post Kasba Sangaon, Taluka
Kagal, District Kolhapur - 416001, Maharashtra, India |
|
Tel. No.: |
91.231-2305123 |
|
Fax No.: |
919231-230124 |
|
Location : |
Owned |
DIRECTORS
As on 29.08.2013
|
Name : |
Mr. NihatFadil Erten |
|
Designation : |
Director |
|
Address : |
Mimar Sinan MH1403, S.K. Building, Apartment No. 7 D 12, Konak, Izmir
– 035220, Turkey |
|
Date of Birth/Age : |
16.10.1967 |
|
Date of Appointment : |
15.02.2007 |
|
DIN No.: |
01222202 |
|
|
|
|
Name : |
Mr. Muharrem Hilmi Kayhan |
|
Designation : |
Director |
|
Address : |
Marti Apartment, Sokak No. 23, Alsancak, Izmir – 035210, Turkey |
|
Date of Birth/Age : |
02.04.1955 |
|
Date of Appointment : |
13.08.2008 |
|
DIN No.: |
01382997 |
|
|
|
|
Name : |
Mr. Eyup Hilmi Kayhan |
|
Designation : |
Director |
|
Address : |
Kultur 1378 No. 1 D 7, Konak, Izmir – 035220, Turky |
|
Date of Birth/Age : |
16.07.1956 |
|
Date of Appointment : |
12.03.2007 |
|
DIN No.: |
01382786 |
|
|
|
|
Name : |
Mr. Mehmet Vilmaz |
|
Designation : |
Director |
|
Address : |
Konak Mah, Cengiz Sok, Muserref Hanim Apartment, Aydin Soke – 009201,
Turkey |
|
Date of Birth/Age : |
05.08.1964 |
|
Date of Appointment : |
16.01.2009 |
|
DIN No.: |
02475759 |
|
|
|
|
Name : |
Mr. Seyhan Aktemur |
|
Designation : |
Director |
|
Address : |
Cumhuriyet Mah, Ozbas, Iyolu Kume Evler No. 53, Aydin Soke – 009200,
Turkey |
|
Date of Birth/Age : |
14.11.1970 |
|
Date of Appointment : |
21.12.2009 |
|
DIN No.: |
02880076 |
KEY EXECUTIVES
|
Name : |
Ms. Shweta Omprakash Gupta |
|
Designation : |
Secretary |
|
Address : |
Ward No.12/304, Opposite Mahatma Gandhi School, Ichalkaranji, Kolhapur
– 416115, Maharashtra, India |
|
Date of Birth/Age : |
15.07.1987 |
|
Date of Appointment : |
02.05.2012 |
|
PAN No. : |
AQJPG0747M |
MAJOR SHAREHOLDERS
As on 29.08.2013
|
Names of Shareholders (Equity Shares) |
Class A |
Class B |
No. of Shares |
|
Soktas Tekstil Sanayi Ve ticaret Anonim Sirketi, Turkey |
90545223 |
10431570 |
100976793 |
|
International Finance Corporation, US |
12113760 |
-- |
12113760 |
|
|
|
|
|
|
Total |
102658983 |
10431570 |
113090553 |
As on 29.08.2013
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 |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Manufacturing and Sales of Grey and Dyed Shirting Fabrics. |
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|
Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|||||||||||||||||||||||||||
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Bankers : |
·
Bank of India, 1st Floor, 28, S V
Road, Andheri – West, Mumbai – 400058, Maharashtra, India ·
Bank of Baroda, Shivaji Chowk Branch, P.O. No. 11,
Maharana Pratap Chowk, Kolhapur – 416002, Maharashtra, India |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Haribhakti and Company Chartered Accountant |
|
Address : |
42, Free Press House, 215, Nariman Point, Mumbai – 400021,
Maharashtra, India |
|
PAN No.: |
AAAFH2010F |
|
|
|
|
Related Party : |
· Soktas Tekstil Sanayi Ticaret A.S.,Turkey · Soktas Dokuma Sanayi Ticaret A.S.,Turkey · International Financial corporation, US |
CAPITAL STRUCTURE
As on 29.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
105000000 |
Equity Shares (Class A) |
Rs.10/- each |
Rs. 1050.000 Millions |
|
13000000 |
Equity Shares (Class B) |
Rs.10/- each |
Rs. 130.000 Millions |
|
|
|
|
|
|
|
|
Total |
Rs. 1180.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
102658983 |
Equity Shares (Class A) |
Rs.10/- each |
Rs.1026.589
Millions |
|
10431570 |
Equity Shares (Class B) |
Rs.10/- each |
Rs.104.316
Millions |
|
|
|
Total |
Rs.1130.905 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 |
1130.905 |
1026.589 |
1026.589 |
|
(b) Reserves & Surplus |
(442.987) |
(403.084) |
(262.682) |
|
(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) |
687.918 |
623.505 |
763.907 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
787.078 |
1044.430 |
1159.238 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
13.515 |
7.893 |
6.021 |
|
Total Non-current Liabilities (3) |
800.593 |
1052.323 |
1165.259 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
128.120 |
207.948 |
89.871 |
|
(b) Trade payables |
339.367 |
316.372 |
376.425 |
|
(c) Other current
liabilities |
236.671 |
204.359 |
173.900 |
|
(d) Short-term provisions |
2.623 |
2.705 |
2.088 |
|
Total Current Liabilities (4) |
706.781 |
731.384 |
642.284 |
|
|
|
|
|
|
TOTAL |
2195.292 |
2407.212 |
2571.450 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1634.539 |
1772.731 |
1912.656 |
|
(ii) Intangible Assets |
5.201 |
8.590 |
11.997 |
|
(iii) Capital
work-in-progress |
0.611 |
0.538 |
8.688 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
5.110 |
5.364 |
7.727 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1645.461 |
1787.223 |
1941.068 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
292.947 |
241.059 |
344.789 |
|
(c) Trade receivables |
147.065 |
263.045 |
68.423 |
|
(d) Cash and cash
equivalents |
9.398 |
17.332 |
69.537 |
|
(e) Short-term loans and
advances |
44.267 |
52.689 |
106.439 |
|
(f) Other current assets |
56.154 |
45.864 |
41.194 |
|
Total Current Assets |
549.831 |
619.989 |
630.382 |
|
|
|
|
|
|
TOTAL |
2195.292 |
2407.212 |
2571.450 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1528.200 |
1460.200 |
1113.600 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
TOTAL EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(37.039) |
(137.524) |
(78.644) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
225.000 |
348.477 |
213.584 |
|
|
TOTAL EARNINGS |
225.000 |
348.477 |
213.584 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.33 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
(2.42) |
(9.42) |
(7.06) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.69) |
(5.71) |
(3.07) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.05) |
(0.22) |
(0.10) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.33 |
2.01 |
1.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.78 |
0.85 |
0.98 |
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 |
1026.589 |
1026.589 |
1130.905 |
|
Reserves & Surplus |
(262.682) |
(403.084) |
(442.987) |
|
Net
worth |
763.907 |
623.505 |
687.918 |
|
|
|
|
|
|
long-term borrowings |
1159.238 |
1044.430 |
787.078 |
|
Short term borrowings |
89.871 |
207.948 |
128.120 |
|
Total
borrowings |
1249.109 |
1252.378 |
915.198 |
|
Debt/Equity
ratio |
1.635 |
2.009 |
1.330 |
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 |
1113.600 |
1460.200 |
1528.200 |
|
|
|
31.124 |
4.657 |
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 |
1113.600 |
1460.200 |
1528.200 |
|
Profit |
(78.644) |
(137.524) |
(37.039) |
|
|
(7.06)% |
(9.42)% |
(2.42)% |
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 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
LONG TERM
BORROWING |
|
|
|
Term Loan |
0.000 |
102.340 |
|
|
|
|
|
Total |
0.000 |
102.340 |
FINANCIAL RESULTS:
The directors would like to notify that it was the Fourth year of commercial production of finished fabrics, which increased by 5.84 % over the previous year. The sales revenue increased from 1460.200 Millions to 1528.200 Millions showing an increase of 4.66% over the previous year owing to enhanced production and better market penetration and recoveries.
Despite increase in business volume, the overall margins remained under pressure due to fluctuation in raw material and major input prices coupled with competitive pressure on the business activity.
During the year the Company was able to reduce losses to a great extent from 137.500 Millions as in previous year to 37.000 Millions in current year. The major portion of the losses was due to devaluation of Indian rupees as compared to major international currencies and also due to increase in other input costs.
The Company projected sales turnover for financial year 2013-14 is 1755.000 Millions and the Company expect to achieve it comfortably. The directors are very hopeful for the future business prospects of the Company and committed to make their best efforts to present better financial results during the periods to come.
The operations of the Company during the year were satisfactory. The steps taken during the previous year were further pursued to reduce costs and improve the range and quality of products.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10175346 |
08/09/2011 * |
285,000,000.00 |
STATE BANK OF INDIA |
CORPORATE ACCOUNTS GROUP BRANCH, 3RD FLOOR, NEVILLE HOUSE, J. N. HERDIA MARG, BALLARD ESTATE, MUMBAI, Maharashtra - 400001, INDIA |
B20089009 |
|
2 |
10176060 |
29/04/2010 * |
227,700,000.00 |
BANK OF BARODA |
SHIVAJI CHOWK BRANCH P.O. 11, MAHARANA PRATAP CHOWK, KOLHAPUR, Maharashtra - 416002, INDIA |
A86113750 |
|
3 |
10146606 |
31/01/2009 |
350,000,000.00 |
BANK OF INDIA |
1ST FLOOR, 28 S V ROAD, ANDHERI WEST, MUMBAI, Maharashtra - 400058, INDIA |
A58357559 |
|
4 |
10115067 |
31/01/2009 * |
370,000,000.00 |
STATE BANK OF INDIA |
CAG Branch, Voltas House,
23, JN Heredia marg,, Ballard Estate, Mumbai 400001, MUMBAI, Maharashtra |
A57316200 |
|
5 |
10099352 |
31/01/2009 * |
750,346,800.00 |
INTERNATIONAL FINANCE CORPORATION |
2121, PENNSYLVANIA AVE. N. W., WASHINGTON DC, - 024033, UNITED STATES OF AMERICA |
A57491888 |
|
6 |
10276644 |
10/04/2008 |
350,000,000.00 |
BANK OF INDIA |
1ST FLOOR, 28, S V ROAD,, ANDHERI - WEST,, MUMBAI, Maharashtra - 400058, INDIA |
A40932618 |
* Date of charge modification
FIXED ASSETS
· Land
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office equipment
· Computer
· Electrical Installation
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.60.87 |
|
|
1 |
Rs.99.63 |
|
Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
35 |
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.