MIRA INFORM REPORT
|
Report No. : |
317366 |
|
Report Date : |
14.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
ARADHYA STEEL PRIVATE LIMITED (w.e.f. 24.01.2008) |
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|
|
|
Formerly Known
As : |
ARADHYA STEEL WIRES PRIVATE LIMITED |
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Registered
Office : |
7th Floor, "SOLUS", No.2, 1st Cross,
J.C. Road, Bangalore – 560 027, Karnataka |
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Tel. No.: |
91-80-41136999 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
09.01.1989 |
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Com. Reg. No.: |
08-009761 |
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Capital
Investment / Paid-up Capital : |
Rs.150.000 million |
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CIN No.: [Company Identification
No.] |
U00361KA1989PTC009761 |
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IEC No.: |
0794013147 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRA02643E |
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PAN No.: [Permanent Account No.] |
AACCA3266D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacturing and
supplying steel wires and ropes. |
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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 |
|
Status : |
Satisfactory |
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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. General financial
position of the company is normal and acceptable for business dealings. Trade relations are
reported as fair. Business is active. Payment terms are reported to be
usually correct. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
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 BY
|
Name : |
Ms. Netra |
|
Designation : |
Finance Manager |
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Contact No.: |
91-80-41136999 |
|
Date : |
11.04.2015 |
LOCATIONS
|
Registered Office : |
7th Floor, "SOLUS", No.2, 1st Cross, J.C.
Road, Bangalore – 560 027, Karnataka, India |
|
Tel. No.: |
91-80-41136999 |
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Fax No.: |
91-80-41136111 |
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E-Mail : |
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Website : |
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Head Office/ Factory 1 : |
Sy. No.154, Halavarthy Village, NH-4, Poona Bangalore Highway, Anagodu, Davangere, Karnataka, India |
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Tel. No.: |
91-8192-272990 |
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Fax No.: |
91-8192-259551 |
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Factory 2 : |
Avaragere, Davangere, Karnataka, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Avinash Aradhya |
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Designation : |
Managing Director |
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Address : |
‘Avinash’,
#2980-83, MCC ‘B’ Block, 7th Main, Davangere – 577 004, Karnataka,
India |
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Date of Birth/Age : |
12.05.1978 |
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Date of Appointment : |
16.08.2010 |
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DIN No.: |
00733636 |
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PAN No.: |
ACXPA9531F |
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Other Directorship :
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Name : |
Mr. Dilip Deshmukh |
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Designation : |
Managing Director |
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Address : |
D6, Sneh
Paradise, MIT College RD, Rambaug Colony, Kothrud, Pune – 411 038,
Maharashtra, India |
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Date of Birth/Age : |
23.01.1954 |
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Date of Appointment : |
01.12.2011 |
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PAN No.: |
AEVPD7057H |
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DIN No.: |
03022313 |
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Other Directorship :
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Name : |
Mr. Rajkumar Shankarrao Kothavale |
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Designation : |
Director |
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Address : |
83, National
Co-Operative Housing Society, Baner Road, Aundh, Pune – 411 007, Maharashtra,
India |
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Date of Birth/Age : |
04.05.1939 |
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Date of Appointment : |
12.03.2010 |
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DIN No.: |
00146524 |
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Other Directorship :
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Name : |
Mr. Iynahalli Puttappa Mallokaradhya |
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Designation : |
Director |
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Address : |
2580, 'Avinash',
7th Main, Davangere Extn P/S, Davangere - 577004, Karnataka, India
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Date of Birth/Age : |
05.08.1950 |
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Date of Appointment : |
16.08.2010 |
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DIN No.: |
00773104 |
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PAN No.: |
ACMPM7814L |
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Other Directorship :
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Name : |
Mr. Dhekne Vasant Nandkumar |
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Designation : |
Director |
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Address : |
1238-A, Svanand,
32nd G Cross, 26 Main, Jayanagar, 4th T Block, Bangalore – 560
041, Karnataka, India |
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Date of Birth/Age : |
02.09.1957 |
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Date of Appointment : |
30.03.2011 |
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DIN No.: |
02189370 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Ms. Netra |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
I. P. Mallokaradhya |
6921053 |
42.65 |
|
I. M. Roopa |
1590000 |
9.80 |
|
Avinash Aradhya |
7205741 |
44.40 |
|
I. M. Anju Aradhya |
4000 |
0.02 |
|
Deepti Kore |
300000 |
1.85 |
|
Prabhakar Kore |
100000 |
0.62 |
|
Asha P. Kore |
100000 |
0.62 |
|
Nanda S. Hurkadli |
3000 |
0.02 |
|
Bhanu Kiran |
3000 |
0.02 |
|
Total |
16226794 |
100.00 |
AS ON 09.02.2015
|
Names of Allottee |
|
No. of Shares |
|
Avinash Aradhya |
|
219195 |
|
Total |
|
219195 |
AS ON 31.03.2015
|
Names of Allottees |
|
No. of Shares |
|
I. P. Mallokaradhya |
|
422525 |
|
Avinash Aradhya |
|
1726235 |
|
Total |
|
2148760 |
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing and
supplying steel wires and ropes. |
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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 Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS –
NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the Management. |
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Bankers : |
·
Bank of Baroda, Mid Corporate Branch, 2nd Floor,
"Nitesh Lexington Avenue", Brigade Road, Bangalore – 560 025,
Karnataka, India ·
Union Bank of India (Lender's Agent),
Industrial Finance Branch, # 23, Archana Complex, J.C. Road, Bangalore – 560
002, Karnataka, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Avinash Bhandari and Company Chartered Accountants |
|
Address : |
No.48, Wellington Street, Richmond Town, Near Post Office,
Bangalore – 560 025, Karnataka, India |
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PAN
No.: |
AAUFA5752F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
Parties where
control exists : |
·
Aradhya Wire Ropes Private Limited ·
Aradhya Concrete Products ·
Mysore Cement Pipes ·
Chetana Concrete Products ·
AFX Logistics ·
Shankar Concrete Products ·
Eden Garden |
CAPITAL STRUCTURE
AFTER 30.09.2014
Authorised Capital : Rs.200.000 million
Issued, Subscribed & Paid-up Capital : Rs.189.028
million
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
16226794 |
Equity Shares |
Rs.10/- each |
Rs.162.268 million |
|
|
|
|
|
AS ON 31.03.2014
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 |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 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 |
150.000 |
98.000 |
98.000 |
|
(b) Reserves & Surplus |
554.781 |
288.327 |
249.770 |
|
(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) |
704.781 |
386.327 |
347.770 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
168.996 |
342.746 |
336.299 |
|
(b) Deferred tax liabilities (Net) |
74.003 |
72.908 |
60.160 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
242.999 |
415.654 |
396.459 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
725.895 |
427.892 |
503.168 |
|
(b) Trade
payables |
238.501 |
63.396 |
52.595 |
|
(c) Other
current liabilities |
81.741 |
106.319 |
80.198 |
|
(d) Short-term
provisions |
1.934 |
13.799 |
12.009 |
|
Total Current
Liabilities (4) |
1048.071 |
611.406 |
647.970 |
|
|
|
|
|
|
TOTAL |
1995.851 |
1413.387 |
1392.199 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
452.988 |
479.655 |
508.357 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
23.175 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.320 |
0.320 |
0.321 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
87.256 |
51.448 |
46.877 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
563.739 |
531.423 |
555.555 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
225.093 |
160.841 |
247.617 |
|
(c) Trade
receivables |
1052.761 |
571.427 |
408.491 |
|
(d) Cash
and cash equivalents |
44.497 |
44.520 |
37.629 |
|
(e)
Short-term loans and advances |
57.165 |
45.506 |
87.346 |
|
(f) Other
current assets |
52.596 |
59.670 |
55.561 |
|
Total
Current Assets |
1432.112 |
881.964 |
836.644 |
|
|
|
|
|
|
TOTAL |
1995.851 |
1413.387 |
1392.199 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2439.400 |
|
|
|
|
|
Other Income |
NA |
|
|
|
|
|
TOTAL |
NA |
2212.100 |
1506.400 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
2013.600 |
1340.200 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
NA |
198.500 |
166.200 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
NA |
99.200 |
77.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
NA |
99.300 |
89.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
NA |
33.200 |
29.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
NA |
66.100 |
59.600 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
27.500 |
17.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
46.700 |
38.600 |
42.100 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports on FOB Basis and any other income |
23.025 |
12.250 |
29.578 |
|
|
TOTAL EARNINGS |
23.025 |
12.250 |
29.578 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods includes advances |
2.164 |
NA |
NA |
|
|
TOTAL IMPORTS |
2.164 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
3.12 |
3.93 |
4.30 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
1.91 |
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
4.68 |
4.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.17 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.27 |
1.99 |
2.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37 |
1.44 |
1.29 |
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 |
98.000 |
98.000 |
150.000 |
|
Reserves & Surplus |
249.770 |
288.327 |
554.781 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
347.770 |
386.327 |
704.781 |
|
|
|
|
|
|
Long Term borrowings |
336.299 |
342.746 |
168.996 |
|
Short Term borrowings |
503.168 |
427.892 |
725.895 |
|
Total borrowings |
839.467 |
770.638 |
894.891 |
|
Debt/Equity ratio |
2.414 |
1.995 |
1.270 |
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/ Net Sales |
1,506.400 |
2,212.100 |
2,439.400 |
|
|
|
46.847 |
10.275 |
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/ Net Sales |
1,506.400 |
2,212.100 |
2,439.400 |
|
Profit |
42.100 |
38.600 |
46.700 |
|
|
2.79% |
1.74% |
1.91% |
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 |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
FINANCIAL RESULTS
BUSINESS PERFORMANCE
The world economic situation continues to be challenging with GDP growth
of just 3% in 2013 versus 3.2% in 2012. Indian economy continued to lag at 4.9%
in FY 2013-14 as poor sentiments due to policy paralysis in the Government,
high interest rates, inflation and rising fuel prices slumped demand for new
vehicles leading to a slump in the Indian auto industry and tyre industry.
The Company has reported a 10.27% increase in net sales to Rs.2439.400
million and Profits after Tax to Rs.46.700 million primarily driven by a
sharper focus on improving sales volumes of Tyre Bead Wire to OEM customers and
improved productivity and capacity utilization of the plant.
In FY 2014, the company successfully formed the banking consortium and
accelerated its growth and started work on the expansion project to increase
capacity to 49,200 MT. However, due to delays in disbursement of the term
loans, the expansion project was delayed by 9 months.
The Wind Mill performance continues to perform below expectations in
this financial year and the company is scouting for buyers to sell this asset
and bring the proceeds into the system after consent from the lenders.
PROSPECTS OF THE
COMPANY
The prospects for the company are very bright with positive sentiments
reviving the growth in the Indian Auto and Tyre industry after a stable
government with full majority has come to power.
The company will increase installed capacity from 24,000 Metric Tons per
Annum (MTPA) to 49,200 MTPA with the increase primarily in Tyre Bead Wire and
Steel Wire Ropes. As this capacity is being added without major increase in
employees and overheads, this will yield good profitability for the company in
the immediate future.
The focus is to build a process and performance driven organization with
a confident, bold and agile team with a culture to deliver results consistently
and ensure profitable in the years ahead.
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from others |
149.274 |
274.819 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand |
0.000 |
20.000 |
|
Total |
149.274 |
294.819 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10556818 |
23/03/2015 |
449,000,000.00 |
BANK OF BARODA |
MID CORPORATE BRANCH, 2ND
FLOOR, "NITESH LEXINGTON AVENUE", BRIGADE ROAD, BANGALORE, KARNATAKA
- |
C47615299 |
|
2 |
10457926 |
16/01/2014 * |
1,485,200,000.00 |
UNION BANK OF INDIA
(LENDER'S AGENT) |
INDUSTRIAL FINANCE
BRANCH, # 23, ARCHANA COMPLEX, J.C. ROAD, BANGALORE, KARNATAKA - 560002,
INDIA |
B94939089 |
|
3 |
10163811 |
15/05/2009 |
990,000.00 |
UNION BANK OF INDIA |
DAVANGERE BRANCH,
DAVANGERE, KARNATAKA - 577002, I |
A64490311 |
|
4 |
80042180 |
05/01/2012 * |
231,700,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH,
NO.23, ARCHANA COMPLEX, J.C. ROAD, BANGALORE, KARNATAKA - 560002, INDIA |
B30111348 |
* Date of charge modification
CONTINGENT
LIABILITIES NOT PROVIDED IN THE BOOKS IS AS UNDER (AS ON 31.03.2014):
(a) Contingent Liabilities not provided in respect of Excise duty
liability of Rs.4.180 million and Penalty on same of Rs.4.180 million, the case
is pending before Tribunal bench of Central Excise and Customs, Bangalore.
(b) Bank Guarantee: Bank guarantee of Rs.8.000 million have been
executed in favour of Rastriya Ispat Nigam limited.
(c) Bills Discounted with Banks/Factoring Companies amounting Rs.62.500
million as on 31st March 2014. The same has been reduced from
Debtors and shown under Contingent Liabilities.
FIXED ASSETS:
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No 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.62.39 |
|
|
1 |
Rs.91.06 |
|
Euro |
1 |
Rs.66.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
|
-- PROFITABILITY |
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 |
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 |
|
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.