MIRA INFORM REPORT
|
Report No. : |
315555 |
|
Report Date : |
02.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
KHAYATI STEEL INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.103, Ground Floor, Vivekananda
Road, Yadavagiri, Mysore – 570 020, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
15.04.2008 |
|
|
|
|
Com. Reg. No.: |
08-046042 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.138.221 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27310KA2008PTC046042 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCK3583C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Billets and TMT Bars. |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1060000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an
established company having satisfactory track record. Management of the
company has reported increase in its turnover and profitability during the
financial year 2013-14. The company
possesses above average financial risk profile, adequate liquidity and
moderate debt protection measures. However, trade
relations are fair. Business is active. Payments 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long-Term Rating: BB+ |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
January, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short-Term Rating: A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
January, 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 PARTED BY
|
Name : |
Mr. Manish Agarwal |
|
Designation : |
Manager |
|
Contact No.: |
91-821-4267440 |
|
Date : |
01.04.2015 |
LOCATIONS
|
Registered Office : |
No.103, Ground Floor,
Vivekananda Road, Yadavagiri, Mysore – 570 020, Karnataka, India |
|
Tel. No. : |
91-821-4267440/ 4267441 |
|
Mobile No. : |
91-8880607271 (Mr. Agarwal) |
|
Fax No. : |
91-821-4267440 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
12P-II/ 12P-III, Thandya Industrial Area Thandavapura, Nanjangud
Taluk, District Mysore – 571 301, Karnataka, India |
|
Tel. No.: |
91-8221-223501/ 2/ 3 |
|
Fax No.: |
91-8221-223500 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Navin Kumar Gupta |
|
Designation : |
Director |
|
Address : |
401,
Sankalp Daffodill Apartment, 13th Cross, 3rd Floor, VV
Mohalla, Mysore – 570 002, Karnataka, India |
|
Date of Birth/Age : |
29.06.1977 |
|
Date of Appointment : |
15.04.2008 |
|
DIN No. : |
02090777 |
|
PAN No.: |
AAGPG2316R |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name of the Company/ LLP |
Current designation of
the Director/ Designated Partner |
Date of appointment at
current designation |
Original date of
appointment |
Date of cessation |
Company/ LLP Status |
Defaulting status |
|
1 |
U27310KA2008PTC046042 |
KHAYATI STEEL INDUSTRIES
PRIVATE LIMITED |
Director |
15/04/2008 |
15/04/2008 |
- |
Active |
NO |
|
2 |
U27320KA2009PTC049143 |
BHAVYA ISPAT PRIVATE
LIMITED |
Director |
16/02/2009 |
16/02/2009 |
- |
Active |
NO |
|
3 |
U45201KA2010PTC053382 |
MATAJWALA INVESTMENTS AND
INFRASTRUCTURE PRIVATE LIMITED |
Director |
26/04/2010 |
26/04/2010 |
- |
Active |
NO |
|
4 |
U15500KA2012PTC065863 |
JASH FOODS INDIA PRIVATE
LIMITED |
Director |
11/09/2012 |
11/09/2012 |
- |
Active |
NO |
|
Name : |
Mrs. Anita Gupta |
|
Designation : |
Director |
|
Address : |
E7/12,
Platinum City, HMT Road Cross, Tumkur Road, Yeshwantpur, Bangalore – 560 022,
Karnataka, India |
|
Date of Birth/Age : |
09.03.1958 |
|
Date of Appointment : |
15.04.2008 |
|
PAN No.: |
AAGPG2317Q |
|
DIN No. : |
02090800 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name of the Company/ LLP |
Current designation of
the Director/ Designated Partner |
Date of appointment at
current designation |
Original date of
appointment |
Date of cessation |
Company/ LLP Status |
Defaulting status |
|
1 |
U27310KA2008PTC046042 |
KHAYATI STEEL INDUSTRIES
PRIVATE LIMITED |
Director |
15/04/2008 |
15/04/2008 |
- |
Active |
NO |
|
2 |
U27320KA2009PTC049143 |
BHAVYA ISPAT PRIVATE
LIMITED |
Director |
16/02/2009 |
16/02/2009 |
- |
Active |
NO |
|
3 |
U15500KA2012PTC065863 |
JASH FOODS INDIA PRIVATE
LIMITED |
Director |
11/09/2012 |
11/09/2012 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Srinivas Dayal |
|
Designation : |
Additional Director |
|
Address : |
6-A,
8th Main, Brindavan Extension, Mysore – 570 020, Karnataka, India |
|
Date of Appointment : |
18.11.2014 |
|
DIN No. : |
07021497 |
KEY EXECUTIVES
|
Name : |
Mr. Manish Agarwal |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Navin Kumar Gupta |
|
4750000 |
|
Anita Gupta |
|
2500000 |
|
Matajwala Investments and Infrastructure Private Limited, India |
|
6379500 |
|
Arion Suppliers Private Limited, India |
|
10000 |
|
Aroma Barter Private Limited, India |
|
10000 |
|
Ellenbarrie Commercial Limited, India |
|
13800 |
|
Giriraj Housing Private Limited, India |
|
7500 |
|
Nector Business Solutions Private Limited, India |
|
10000 |
|
Nexus Barter Private Limited, India |
|
15000 |
|
Overall Realtors Private Limited, India |
|
11600 |
|
Nirbhay Plastics Private Limited, India |
|
3000 |
|
Suncity Niketan Private Limited, India |
|
7500 |
|
Swarnarekha Dealcom Private Limited, India |
|
10000 |
|
Venkatesh Barter Private Limited, India |
|
20000 |
|
Zenom Vinimoy Private Limited, India |
|
3500 |
|
Orchidtrxim Private Limited, India |
|
15000 |
|
Nawalsons Holding Private Limited, India |
|
29700 |
|
Dhanwanti Projects Private Limited, India |
|
4000 |
|
Eklavya Tradecom Private Limited, India |
|
5000 |
|
Complete Softech Private Limited, India |
|
7000 |
|
Shree Aeran Marketing Private Limited, India |
|
10000 |
|
Total |
|
13822100 |
AS ON 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
47.55 |
|
Directors or relatives of Directors |
52.45 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Billets and TMT Bars. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
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Products : |
Machinery |
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Countries : |
China |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS –
NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers and Manufacturers
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No. of Employees : |
200 (Approximately) |
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Bankers : |
·
Kaveri Grameena
Bank ·
HDFC Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
B.S. Ravikumar and Associates Chartered Accountants |
|
Address : |
No.73, 2nd Floor, Shrimadhvesha
Complex, Malai Mahadeshwara Road, Nazarbad, Mysore – 570 010, Karnataka,
India |
|
PAN
No.: |
AADFB1008N |
|
|
|
|
Memberships : |
Not Available |
|
|
|
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Collaborators : |
Not Available |
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|
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|
Associates (As on 31.03.2013) : |
Jash Foods India Private
Limited, India (CIN No.: U15500KA2012PTC065863) |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
13822100 |
Equity Shares |
Rs.10/- each |
Rs.138.221 million |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)
Shareholders' Funds |
|
|
|
|
(a) Share Capital |
138.221 |
138.221 |
138.221 |
|
(b) Reserves & Surplus |
232.775 |
178.451 |
129.367 |
|
(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) |
370.996 |
316.672 |
267.588 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
187.416 |
189.852 |
79.500 |
|
(b) Deferred tax liabilities (Net) |
34.045 |
31.281 |
16.961 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
1.004 |
0.348 |
0.000 |
|
Total Non-current
Liabilities (3) |
222.465 |
221.481 |
96.461 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
166.285 |
166.673 |
171.581 |
|
(b) Trade
payables |
33.924 |
53.618 |
148.661 |
|
(c) Other
current liabilities |
75.627 |
69.498 |
63.283 |
|
(d) Short-term
provisions |
31.117 |
35.570 |
10.216 |
|
Total Current
Liabilities (4) |
306.953 |
325.359 |
393.741 |
|
|
|
|
|
|
TOTAL |
900.414 |
863.512 |
757.790 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
258.743 |
271.948 |
283.231 |
|
(ii)
Intangible Assets |
0.003 |
0.005 |
0.006 |
|
(iii)
Capital work-in-progress |
226.942 |
74.311 |
0.000 |
|
(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 |
54.053 |
32.596 |
22.936 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
539.741 |
378.860 |
306.173 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
225.152 |
384.120 |
354.550 |
|
(c) Trade
receivables |
100.964 |
71.291 |
73.258 |
|
(d) Cash
and cash equivalents |
12.702 |
3.252 |
4.065 |
|
(e)
Short-term loans and advances |
21.855 |
25.989 |
19.744 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
360.673 |
484.652 |
451.617 |
|
|
|
|
|
|
TOTAL |
900.414 |
863.512 |
757.790 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
1945.571 |
1742.950 |
|
|
|
|
Other operating revenues – commission |
11.794 |
14.064 |
|
|
|
|
Other Income |
3.220 |
1.140 |
|
|
|
|
TOTAL |
1960.585 |
1758.154 |
1446.513 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials
consumed |
1380.165 |
1302.669 |
|
|
|
|
Purchase of
stock-in-trade |
87.879 |
0.000 |
|
|
|
|
Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
(13.951) |
(14.981) |
|
|
|
|
Employee benefit expense |
13.447 |
13.382 |
|
|
|
|
Other expenses |
361.068 |
333.401 |
|
|
|
|
TOTAL |
1828.608 |
1634.471 |
1396.420 (Including
financial and depreciation) |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
131.977 |
123.683 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
36.244 |
36.013 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
95.733 |
87.670 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
13.779 |
13.649 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
81.954 |
74.021 |
50.093 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
27.630 |
24.937 |
17.439 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
54.324 |
49.084 |
32.654 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
3.93 |
3.55 |
NA |
|
Expected Sales (2014-2015): Rs.2050.000 million
The above information has been parted by Mr. Manish Agarwal (Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
2.79 |
2.82 |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Sales) |
(%) |
6.78 |
7.10 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.17 |
9.38 |
6.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.23 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.95 |
1.13 |
0.94 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18 |
1.49 |
1.15 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Million) |
(INR in Million) |
(INR in Million) |
|
Share Capital |
138.221 |
138.221 |
138.221 |
|
Reserves & Surplus |
129.367 |
178.451 |
232.775 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
267.588 |
316.672 |
370.996 |
|
|
|
|
|
|
Long Term borrowings |
79.500 |
189.852 |
187.416 |
|
Short Term borrowings |
171.581 |
166.673 |
166.285 |
|
Total borrowings |
251.081 |
356.525 |
353.701 |
|
Debt/Equity ratio |
0.938 |
1.126 |
0.953 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Million) |
(INR in Million) |
(INR in Million) |
|
Total Income |
1446.513 |
1758.154 |
1960.585 |
|
|
|
21.544 |
11.514 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Million) |
(INR in Million) |
(INR in Million) |
|
Total Income |
1446.513 |
1758.154 |
1960.585 |
|
Profit |
32.654 |
49.084 |
54.324 |
|
|
2.26% |
2.79% |
2.77% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
Yes |
NOTE:
The registered address of the company has been shifted from No.69, 3rd
Cross, 3rd Block, Jayalakshmipuram, Mysore – 570 012, Karnataka to
the present address w.e.f. 01.03.2013.
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
From Directors and Shareholders |
146.000 |
162.500 |
|
Inter Corporate Deposits |
10.000 |
0.000 |
|
Total |
156.000 |
162.500 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10461164 |
22/09/2014 * |
787,500,000.00 |
STATE BANK OF MYSORE |
MYSORE MAIN BRANCH,
ASHOKA ROAD, MYSORE, KARNATAKA - 570001, INDIA |
C22305213 |
|
2 |
10147961 |
25/04/2013 * |
325,300,000.00 |
STATE BANK OF MYSORE |
MYSORE MAIN BRANCH,
ASHOKA ROAD, MYSORE, KARNATAKA - 570001, INDIA |
B73999047 |
* Date of charge modification
FIXED ASSETS
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipments
·
Electrical Installations
·
Furniture and Fixtures
·
Computers and Printers
·
Office Vehicles
·
Office Equipments
Intangible
Assets
·
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 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.62.59 |
|
|
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.67.51
|
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
-- PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.