MIRA
INFORM REPORT
|
Report Date : |
30.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
SYRMA TECHNOLOGY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 601, 6th Floor, Floral |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
23.08.2004 |
|
|
|
|
Com. Reg. No.: |
11-148165 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 75.250 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U30007MH2004PTC148165 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS45407F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAICS5745D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing Service, Magnetic Colis and Radio
Frequency Identification Tags, USB. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. The rating is constrained on account of intense competition from large
competitors and sluggish market conditions. However, financial position of the company seems to be decent. The rating also takes into consideration company’s established
relationships with its customer and long track in the domestic electronics
manufacturing industry. Trade relations are reported as fair. Business is active. Payment
terms are reported to be 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 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 |
India Rating (FITCH) |
|
Rating |
Long term = BB+ |
|
Rating Explanation |
Have moderate risk of default. |
|
Date |
May 21, 2013 |
|
Rating Agency Name |
India Rating (FITCH) |
|
Rating |
Short term = A4+ |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
May 21, 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. (Tel. No.: 91-44-71728625)
LOCATIONS
|
Registered Office : |
Unit No. 601, 6th Floor, Floral Deck Plaza, MIDC, Andheri
(East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-40363000 |
|
Fax No.: |
91-22-28291176 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No.B27, Phase II, Zone B, MEPZ-SEZ, Tambaram, Chennai – 600045,
Tamilnadu, India |
|
Tel. No.: |
91-44-22628600/ 71728600 |
|
Fax No.: |
91-44-22628612/ 71728612 |
|
|
|
|
Overseas Offices : |
Located at: ·
United States ·
Europe ·
Singapore |
DIRECTORS
As on: 25.09.2013
|
Name : |
Mr. Sandeep Tandon |
|
Designation : |
Director |
|
Address : |
37, Merry Niketan, Mount Mary Road, Bandra (West), Mumbai - 400050,
Maharashtra, India |
|
Date of Birth/Age : |
17.05.1969 |
|
Date of Appointment : |
29.12.2004 |
|
DIN No.: |
00054553 |
|
|
|
|
Name : |
Mr. Vasu Thirumalai |
|
Designation : |
Director |
|
Address : |
A-603, Cascade Vasant Oscar, LBS Marg, Mulund (West), Mumbai –
400080, Maharashtra, India |
|
Date of Birth/Age : |
02.03.1944 |
|
Date of Appointment : |
29.11.2007 |
|
DIN No.: |
00311691 |
KEY EXECUTIVES
|
Name : |
Mr. Narendra Kumar Nagori |
|
Designation : |
Secretary |
|
Address : |
B-14, Building No. 5, Nalanda, Mittal Enclave, Naigaon [East], Vasai, Thane
– 401202, Maharashtra, India |
|
Date of Birth/Age : |
07.02.1983 |
|
Date of Appointment : |
18.06.2010 |
|
PAN No.: |
AFSPN5761Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 25.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Veena Kumari Tandon |
|
2100 |
|
Tancom Electronics Private Limited, India |
|
522900 |
|
|
|
|
|
Total |
|
525000 |
|
Names of Shareholder (Preference Shares) |
|
No. of Shares |
|
Tancom Electronics Private Limited, India |
|
700000 |
|
|
|
|
|
Total |
|
700000 |
Equity Share Break up (Percentage of Total Equity)
As on: 25.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
99.60 |
|
Directors or relatives of directors |
|
0.40 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing Service, Magnetic Colis and Radio
Frequency Identification Tags, USB. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
State Bank of India, Commercial Branch, G.S.T. Road, Guindy,
Chennai - 600032, Tamil Nadu, India |
||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. Subramanian and Company Chartered Accountants |
|
Address : |
Flat No. 2, A Ramaniyam Nataraj, New No. 17, D
Silva Road, Mylapore, Chennai - 600004, India |
|
PAN No.: |
AAAFR0602F |
|
|
|
|
Ultimate Holding
company : |
· Tancom Electronics Private Limited |
|
|
|
|
Related Party : |
· Memory Electronics Private Limited · Crucible Trading Company Private Limited · 3G Wireless Communications Private Limited · Fondue Trading Company Private Limited · Reliable Consultancy Services Private Limited · Syrma Services And Solutions Private Limited · Infinx Services Private Limited · Tandon Information Solutions Private Limited · S T Holdings Private Limited · Tandon Holdings Limited · Tovya Automation Private Limited ·
Tis International Inc. |
CAPITAL STRUCTURE
As on: 25.09.2013
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500000 |
Equity Shares |
Rs.10/- each |
Rs. 35.000 Millions |
|
900000 |
Preferences Shares |
Rs.100/- each |
Rs. 90.000 Millions |
|
|
|
|
|
|
|
Total
|
|
Rs.
125.000 Millions |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
525000 |
Equity Share |
Rs.10/- each |
Rs. 5.250 Millions |
|
700000 |
Preferences Shares |
Rs.100/- each |
Rs. 70.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 75.250
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
75.250 |
75.250 |
|
(b) Reserves & Surplus |
|
186.321 |
156.281 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
|
261.571 |
231.531 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
|
97.811 |
77.402 |
|
(b) Deferred tax liabilities (Net) |
|
14.134 |
8.659 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
4.165 |
6.781 |
|
Total Non-current
Liabilities (3) |
|
116.110 |
92.842 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
203.686 |
270.448 |
|
(b)
Trade payables |
|
338.675 |
242.133 |
|
(c)
Other current liabilities |
|
73.806 |
136.996 |
|
(d) Short-term
provisions |
|
6.591 |
4.013 |
|
Total Current
Liabilities (4) |
|
622.758 |
653.590 |
|
|
|
|
|
|
TOTAL |
|
1000.439 |
977.963 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
167.430 |
147.182 |
|
(ii)
Intangible Assets |
|
1.166 |
2.048 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
2.926 |
3.315 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
171.522 |
152.545 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
250.711 |
248.275 |
|
(c)
Trade receivables |
|
381.963 |
360.673 |
|
(d) Cash
and cash equivalents |
|
40.606 |
67.899 |
|
(e)
Short-term loans and advances |
|
155.637 |
148.571 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
828.917 |
825.418 |
|
|
|
|
|
|
TOTAL |
|
1000.439 |
977.963 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
75.250 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
119.492 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
194.742 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
266.327 |
|
|
2] Unsecured Loans |
|
|
142.115 |
|
|
TOTAL BORROWING |
|
|
408.442 |
|
|
DEFERRED TAX LIABILITIES |
|
|
11.392 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
614.576 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
152.324 |
|
|
Capital work-in-progress |
|
|
0.550 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
11.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
364.733
|
|
|
Sundry Debtors |
|
|
558.933
|
|
|
Cash & Bank Balances |
|
|
47.702
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
107.282
|
|
Total
Current Assets |
|
|
1078.650
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
538.346 |
|
|
Other Current Liabilities |
|
|
57.550
|
|
|
Provisions |
|
|
32.052
|
|
Total
Current Liabilities |
|
|
627.948
|
|
|
Net Current Assets |
|
|
450.702
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
614.576 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
2008.000 |
1727.400 |
1968.900 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
45.731 |
42.656 |
47.232 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
15.691 |
5.867 |
10.106 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
30.040 |
36.789 |
37.126 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
131.530 |
94.741 |
57.615 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
161.570 |
131.530 |
94.741 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1214.800 |
1119.600 |
431.766 |
|
|
TOTAL EARNINGS |
1214.800 |
1119.600 |
431.766 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
848.321 |
661.310 |
|
|
TOTAL IMPORTS |
NA |
848.321 |
661.310 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
57.21 |
53.04 |
32.68 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.57 |
4.36 |
3.84
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.18 |
0.24
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.15 |
1.50 |
2.10
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33 |
1.26 |
1.72
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
75.250 |
75.250 |
|
Reserves & Surplus |
156.281 |
186.321 |
|
Net worth |
231.531 |
261.571 |
|
|
|
|
|
long-term borrowings |
77.402 |
97.811 |
|
Short term borrowings |
270.448 |
203.686 |
|
Total borrowings |
347.850 |
301.497 |
|
Debt/Equity ratio |
1.502 |
1.153 |
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) |
|
Turnover |
1968.900 |
1727.400 |
2008.000 |
|
|
|
(12.266) |
16.244 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Turnover |
1968.900 |
1727.400 |
2008.000 |
|
Profit |
37.126 |
36.789 |
30.040 |
|
|
1.89% |
2.13% |
1.50% |
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 |
Yes |
|
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
BORROWINGS |
|
|
|
Loans and advances from directors |
67.718 |
0.000 |
|
Loans and advances from related parties |
0.000 |
75.255 |
|
|
|
|
|
Total |
67.718 |
75.255 |
LITIGATION
DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date: 21.02.2014 |
|
Lodging No: CPL/97/2014 Filing Date:
21.02.2014 Reg. No.: CP/294/2014 Reg. Date: 21.04.2014 |
|
Petitioner: JIANGSU SKYRUN WUXI CO. LTD Respondent: SYRMA
TECHNOLOGY PVT. LTD. Petn. Adv : M/S. DHRUVE LILADHAR & CO. (151) Resp. Adv.: PDS LEGAL (826) District: OUTSIDE MAHARASHTRA |
|
Bench: SINGLE Status: Pre-Admission
Category: COMPANY PETITION U/SEC 433,434,439 COMPANIES ACT Next Date: 24.07.2014
Stage: FOR
ADMISSION - FOB Coram: HON’BLE SHRI JUSTICE S.J. KATHAWALLA Last Date: 10.07.2014
Stage: FIRST ON BOARD [ORIGINAL SIDE MATTERS] Coram: HON’BLE SHRI JUSTICE S.J. KATHAWALLA |
|
Act: Companies Act & Rules 1956 UNDER SECTION: 433, 434 &
439 |
PERFORMANCE REVIEW
During the year the Company had achieved a turnover of Rs. 2008.000 millions as compared to Rs. 1727.400 millions in the previous year. The profit before tax for the year amounted to Rs. 45.700 millions as against Rs. 52.600 millions in the previous year.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10063394 |
22/05/2014 * |
522,000,000.00 |
STATE BANK OF INDIA |
SME GUINDY BRANCH, 65-A, G.S.T ROAD, CHENNAI, TAMILNADU - 600032, INDIA |
C06546493 |
* Date of charge modification
FIXED ASSETS
· Building
· Plant and Machinery
· Office Equipment
· Computers
· Furniture and Fittings
· Vehicles
· Electrical Fittings and Installation
· Computer Software
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. 61.42 |
|
|
1 |
Rs. 99.72 |
|
Euro |
1 |
Rs. 77.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
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 |
5 |
|
--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 |
YES |
|
--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 |
|
45 |
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.