MIRA INFORM REPORT
|
Report No. : |
316894 |
|
Report Date : |
17.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHARU STEELS
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B - 48, Phase-VII, Focal Point, Ludhiana - 141010, Punjab |
|
Tel No. : |
91-161-5026192 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
23.03.1987 |
|
|
|
|
Com. Reg. No.: |
16-007370 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 25.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18201PB1987PTC007370 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and supplier of Steel Products. |
|
|
|
|
No. of Employees
: |
70 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There seems some dip in the company turnover and profit during FY2014. The rating also takes into consideration company low profit margin and
also the borrowings recorded by the company are huge and increasing. However, 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 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 – 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 |
ICRA |
|
Rating |
Long Term = “B+” |
|
Rating Explanation |
High risk of default |
|
Date |
31.03.2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term = “A4” |
|
Rating Explanation |
Minimal degree of safety and carry very high credit risk. |
|
Date |
31.03.2015 |
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. R. Jain |
|
Designation : |
General Manager |
|
Contact No.: |
91-8725000123 |
|
Date : |
14.04.2015 |
LOCATIONS
|
Registered Office / Factory : |
B - 48, Phase-VII, Focal Point, Ludhiana – 141010, Punjab, India |
|
Tel. No.: |
91-161-5026192/2672897 |
|
Mobile No.: |
91-9814807000 (Mr. G.S. Darg) |
|
Fax No.: |
91-161-026193 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Sarup singh |
|
Designation : |
Chairman |
|
Address : |
68- B, Sargodha Colony, Ludhiana, Punjab, India |
|
Date of Appointment : |
14.02.1990 |
|
DIN No.: |
000283994 |
|
|
|
|
Name : |
Mr. Kewal Krishna Garg |
|
Designation : |
Managing Director |
|
Address : |
1547, Phase – II, Urban Estae, Jamalpur, Ludhiana, Punjab, India |
|
Date of Appointment : |
10.07.1997 |
|
DIN No.: |
00573603 |
|
|
|
|
Name : |
Mr. Jagmeet Paul Singh |
|
Designation : |
Joint Managing Director |
|
Address : |
55 – B Model Town Extension, Ludhiana, Punjab, India |
|
Date of Appointment : |
27.08.2008 |
|
DIN No.: |
00284038 |
|
|
|
|
Name : |
Mr. Chetan Garg |
|
Designation : |
Director |
|
Address : |
1547, Urban Estae, Jamalpur, Ludhiana, Punjab, India |
|
Date of Appointment : |
27.08.2008 |
|
DIN No.: |
00282527 |
|
|
|
|
Name : |
Mr. Karanpal Sijgh |
|
Designation : |
Director |
|
Address : |
349 A, Model town, Extension, Ludhiana, Punjab, India |
|
Date of Appointment : |
27.08.2008 |
|
DIN No.: |
01715207 |
|
|
|
|
Name : |
Mr. Kawaljeet singh |
|
Designation : |
Director |
|
Address : |
68- B, Sargodha Colony, Ludhiana, Punjab, India |
|
Date of Appointment : |
27.08.2008 |
|
DIN No.: |
01796786 |
|
|
|
|
Name : |
Mr. Manjeet Singh Mundi |
|
Designation : |
Director |
|
Address : |
88 – C, Moti Nagar, Ludhiana, Punjab, India |
|
Date of Appointment : |
27.08.2008 |
|
DIN No.: |
02325692 |
|
|
|
|
Name : |
Mr. Gurleen Singh |
|
Designation : |
Director |
|
Address : |
560 – A, Model Town Extension, Ludhiana, Punjab, India |
|
Date of Appointment : |
27.08.2008 |
|
DIN No.: |
02324664 |
|
|
|
|
Name : |
Mr. Amrjit Singh |
|
Designation : |
Director |
|
Address : |
298 – A, Model Town Extension, Ludhiana, Punjab, India |
|
Date of Appointment : |
05.08.2008 |
|
DIN No.: |
01603237 |
|
|
|
|
Name : |
Mr. Mahinder Kaur |
|
Designation : |
Director |
|
Address : |
55 – B Model Town Extension, Ludhiana, Punjab, India |
|
Date of Appointment : |
26.12.2000 |
|
DIN No.: |
01477321 |
|
|
|
|
Name : |
Mr. Harjeet Singh |
|
Designation : |
Director |
|
Address : |
350 A, Model Town Extension, Ludhiana, Punjab, India |
|
Date of Appointment : |
12.12.2012 |
|
DIN No.: |
06459517 |
KEY EXECUTIVES
|
Name : |
Mr. R. Jain |
|
Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Saroop Singh |
|
455000 |
|
Paramjit Kaur |
|
45000 |
|
Karanpal Singh |
|
499000 |
|
Harjeet Singh |
|
1000 |
|
Jagmeet Paul Singh |
|
170100 |
|
Mohinder KAur |
|
329900 |
|
Amarjit Singh |
|
175000 |
|
Kawaljeet Singh |
|
150000 |
|
Gurleen Singh |
|
134850 |
|
Rjinder singh |
|
40150 |
|
Kewal Krishna |
|
216600 |
|
Chetan Garg |
|
170600 |
|
Balaji Sharu Steels Private Limited |
|
80450 |
|
Baldev Garg |
|
2000 |
|
Sunita Garg |
|
11500 |
|
Anisha Garg |
|
16800 |
|
Manjit Singh Mundi |
|
2050 |
|
Total |
|
2500000 |
As on 30.09.2014
Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
3.22 |
|
Directors or relatives of Directors |
96.78 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and supplier of Steel Products. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
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|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees
: |
70 (Approximately) |
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Bankers : |
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Facilities : |
(Rs. In Millions)
|
|
Auditors : |
|
|
Name : |
R.K. Chadha and company Chartered Accountants |
|
Address : |
6, Gian Market, Miller Ganj, G.T. Road, Ludhiana – 141001, Punjab,
India |
|
Tel. No.: |
91-161-2531364/4654600 |
|
Address 2 : |
6 – B/6, Mew Model Town, Phagwara – 144401, Punjab, India |
|
PAN No.: |
AANFR1235M |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,500,000 |
Equity Shares |
Rs.10/- each |
Rs. 25.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
25.000 |
25.000 |
25.000 |
|
(b) Reserves & Surplus |
71.752 |
70.260 |
67.829 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
2.000 |
|
Total
Shareholders’ Funds (1) + (2) |
96.752 |
95.260 |
94.829 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
78.029 |
75.374 |
58.570 |
|
(b) Deferred tax liabilities
(Net) |
0.453 |
0.854 |
1.256 |
|
(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) |
78.482 |
76.228 |
59.826 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
278.661 |
252.374 |
203.552 |
|
(b) Trade payables |
99.048 |
80.113 |
106.245 |
|
(c) Other current liabilities |
4.143 |
12.208 |
16.967 |
|
(d) Short-term provisions |
0.151 |
0.994 |
1.511 |
|
Total
Current Liabilities (4) |
382.003 |
345.689 |
328.275 |
|
|
|
|
|
|
TOTAL |
557.237 |
517.177 |
482.930 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
31.563 |
38.883 |
32.585 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
1.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
14.817 |
14.880 |
14.746 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
46.380 |
53.763 |
48.431 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
116.913 |
127.340 |
123.376 |
|
(c) Trade receivables |
331.097 |
276.963 |
252.570 |
|
(d) Cash and cash equivalents |
29.121 |
37.957 |
38.063 |
|
(e) Short-term loans and
advances |
33.726 |
21.154 |
20.490 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
510.857 |
463.414 |
434.499 |
|
|
|
|
|
|
TOTAL |
557.237 |
517.177 |
482.930 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
784.244 |
930.851 |
995.188 |
|
|
|
(Due
to Market Fluctuation) |
|
|
|
|
Other Income |
4.625 |
3.384 |
11.367 |
|
|
TOTAL
(A) |
788.869 |
934.235 |
1006.555 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
506.861 |
641.847 |
695.936 |
|
|
Purchases of Stock-in-Trade |
19.510 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
15.961 |
(0.578) |
(24.640) |
|
|
Employees benefits expense |
9.093 |
14.371 |
14.306 |
|
|
Other expenses |
209.642 |
248.565 |
271.356 |
|
|
TOTAL
(B) |
761.067 |
904.205 |
956.958 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
27.802 |
30.030 |
49.597 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
21.205 |
16.968 |
26.862 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.597 |
13.062 |
22.735 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
5.019 |
9.481 |
8.564 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
1.578 |
3.581 |
14.171 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
0.086 |
1.150 |
5.185 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
1.492 |
2.431 |
8.986 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.60 |
0.97 |
3.59 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
950.000 |
|
|
|
|
|
The above information has been parted by Mr. R. Jain
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.19 |
0.26 |
0.90 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
3.55 |
3.23 |
4.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.28 |
0.69 |
2.94 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.04 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.69 |
3.44 |
2.76 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34 |
1.34 |
1.32 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
25.000 |
25.000 |
25.000 |
|
Reserves & Surplus |
67.829 |
70.260 |
71.752 |
|
Shae application money pensing
allotment |
2.000 |
0.000 |
0.000 |
|
Net
worth |
94.829 |
95.260 |
96.752 |
|
|
|
|
|
|
long-term borrowings |
58.570 |
75.374 |
78.029 |
|
Short term borrowings |
203.552 |
252.374 |
278.661 |
|
Total
borrowings |
262.122 |
327.748 |
356.690 |
|
Debt/Equity
ratio |
2.764 |
3.441 |
3.687 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
995.188 |
930.851 |
784.244 |
|
|
|
(6.465) |
(15.750) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
995.188 |
930.851 |
784.244 |
|
Profit |
8.986 |
2.431 |
1.492 |
|
|
0.90% |
0.26% |
0.19% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
four years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
Yes |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Term Loan from
Other Parties |
|
|
|
Kalpataru Vyapar Private Limited |
3.772 |
3.579 |
|
Paawan Commodities Private Limited |
12.545 |
11.902 |
|
|
|
|
|
Loans and
Advances from related parties |
|
|
|
Anisha Garg |
1.596 |
1.514 |
|
Balaji Sharu |
3.187 |
5.606 |
|
Balwinder Kaur Dang |
1.820 |
1.727 |
|
Bimla Devi |
0.565 |
0.536 |
|
Chetan Garg |
4.712 |
4.471 |
|
Gaurav Garg |
2.369 |
2.247 |
|
Gurbachan Singh and Sons HUF |
2.729 |
2.589 |
|
Gurleen singh |
0.318 |
0.302 |
|
Jagmeet Pal Singh And Sons HUF |
4.843 |
4.596 |
|
JAgmeet Pal sngh |
2.271 |
2.157 |
|
Jasmeet Kaur |
4.922 |
4.670 |
|
Karan Pal Singh |
8.099 |
7.476 |
|
KAwaljit singh |
2.605 |
2.471 |
|
Kewal Krishna Garg HUF |
2.440 |
2.315 |
|
NArinder Kaur |
0.000 |
0.208 |
|
Nikita Garg |
0.177 |
0.168 |
|
Paramjit Kaur |
3.806 |
3.612 |
|
Pavneet Kaur |
0.036 |
0.034 |
|
Rajinder Singh |
0.428 |
0.406 |
|
Rajinder Singh and Sons HUF |
0.910 |
0.863 |
|
S. Amarjit Singh Dang |
3.205 |
3.041 |
|
Sahib Alloys Private Limited |
1.353 |
1.283 |
|
Saroop Singh |
0.914 |
0.867 |
|
Saroop Singh and Sons HUF |
2.744 |
2.602 |
|
Satnam Kaur |
0.910 |
0.864 |
|
Sunita Garg |
0.000 |
0.336 |
|
Yogesh Bansal |
0.000 |
0.959 |
|
|
|
|
|
SHORT TERM
BORROWING |
|
|
|
Advance from Customer |
2.243 |
0.432 |
|
Total |
75.519 |
73.833 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10262757 |
30/04/2013 * |
344,800,000.00 |
Punjab National Bank |
Gill Road, Ludhiana, Punjab - 141003, INDIA |
B76054360 |
|
2 |
90181948 |
31/03/2005 * |
2,500,000.00 |
PUNJAB NATIONAL BANK |
GILL ROAD, LUDHIANA, Punjab, INDIA |
- |
|
3 |
90176473 |
30/03/2005 * |
8,500,000.00 |
PUNJAB NATIONAL BANK |
GILL ROAD, LUDHIANA, Punjab, INDIA |
* Date of charge modification
FIXED ASSETS
- Building
- Car
- Computer
- Electric Fitting
- Furniture and Fixture
- Plant and Machinery
- Tools and Dies, Jigs
- Truck and Tipper
- Rolling Mills Rolls
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 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.6237 |
|
|
1 |
Rs.92.44 |
|
Euro |
1 |
Rs.66.56 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.