MIRA INFORM REPORT
|
Report No. : |
318176 |
|
Report Date : |
20.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
S.P.M.POWER & TELECOM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. A- 28/1/12, I.D.A Nacharam, Hyderabad – 500076, Telangana |
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Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
13.05.2008 |
|
|
|
|
Com. Reg. No.: |
01-059134 |
|
|
|
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Capital
Investment / Paid-up Capital : |
Rs.25.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31300TG2008PTC059134 |
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|
|
IEC No.: |
Not Available |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Manufacturer of Power Cables, Control Cables, Networking and
Telecommunications. |
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|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
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 : |
Slow but correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track record. The company has processed average operational performance which led to
stagnant topline growth of the company and profitability of the company
remains low. However, rating reflects extensive experience of the company’s
promoters in the cable manufacturing industry supported by sound financial
base and above-average debt protection metrics of the company. Trade relations are reported to be fair. Payments are reported to be
slow but correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 |
December 10, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
December 10, 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. Mohit Jain |
|
Designation : |
CMO |
|
Contact No.: |
91-9701199990 |
|
Date : |
16.04.2015 |
LOCATIONS
|
Registered Office : |
Plot No. A- 28/1/12, I.D.A Nacharam, Hyderabad – 500076, Telangana,
India |
|
Tel. No. : |
91-40-271511545 / 27151158 |
|
Mobile No. : |
91-9701199990 (Mr. Mohit Jain) |
|
Fax No. : |
91-40-27153063 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
Locality : |
Industrial |
|
|
|
|
Factory : |
Plot No. 16/2, Phase – 2, I.D. A. Cherapally, Hyderabad, Telangana,
India |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Anil Kumar Jain |
|
Designation : |
Director |
|
Address : |
Paigah Colony, 2-11-40/31, Balamrai, Secunderabad - 500003, Andhra Pradesh, India |
|
Date of Birth/Age : |
01.03.1967 |
|
Date of Appointment : |
13.05.2008 |
|
DIN No. : |
00438123 |
|
|
|
|
Name : |
Mr. Sunil Kumar Jain |
|
Designation : |
Director |
|
Address : |
Paigah Colony, 2-11-40/31, Balamrai, Secunderabad - 500003, Andhra Pradesh, India |
|
Date of Birth/Age : |
23.10.1964 |
|
Date of Appointment : |
13.05.2008 |
|
DIN No. : |
00438165 |
|
|
|
|
Name : |
Mr. Rupender Jain |
|
Designation : |
Director |
|
Address : |
Plot No 31, Paigah Colony, S P Road Balamrai, Secunderabad - 500003, Andhra Pradesh, India |
|
Date of Birth/Age : |
26.02.1962 |
|
Date of Appointment : |
13.05.2008 |
|
DIN No. : |
01248398 |
|
|
|
|
Name : |
Mr. Vishal Jain |
|
Designation : |
Director |
|
Address : |
H.No.1-37-31/A, Paigha Colony, Balamrai, S.P. Road, Secunderabad - 500003, Andhra Pradesh, India |
|
Date of Birth/Age : |
04.10.1985 |
|
Date of Appointment : |
01.04.2013 |
|
DIN No. : |
03559598 |
KEY EXECUTIVES
|
Name : |
Mr. Mohit Jain |
|
Designation : |
CMO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age |
|
Sunil Kumar Jain |
300000 |
12.00 |
|
Rupender Jain |
300000 |
12.00 |
|
Pramod Jain |
300000 |
12.00 |
|
Anil Jain |
300000 |
12.00 |
|
Bharati Jain |
300000 |
12.00 |
|
Saroj Jain |
300000 |
12.00 |
|
Veena Jain |
300000 |
12.00 |
|
Premchand Techno Park (Private) Limited, India |
400000 |
16.00 |
|
|
|
|
|
Total |
2500000 |
100.00 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
16.00 |
|
Directors or relatives of Directors |
84.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Power Cables, Control Cables, Networking and
Telecommunications. |
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Products : |
Not Available |
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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 : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash and Cheque |
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Purchasing : |
Cash and Cheque |
PRODUCTION STATUS – NOT
AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
250 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Dagliya and Company Chartered Accountants |
|
Address : |
2nd Floor, Srinivasa Building, Ranigunj, Secunderabad – 500003, Andhra Pradesh, India |
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E-Mail : |
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PAN
No. : |
AAAFD6954E |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates / Subsidiaries : |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Million |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
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 |
119.607 |
114.937 |
109.734 |
|
(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) |
144.607 |
139.937 |
134.734 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
57.745 |
56.615 |
56.371 |
|
(b) Deferred tax liabilities (Net) |
6.554 |
6.170 |
5.579 |
|
(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) |
64.299 |
62.785 |
61.950 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
36.654 |
39.363 |
24.761 |
|
(b) Trade
payables |
84.049 |
82.497 |
56.086 |
|
(c) Other
current liabilities |
15.566 |
12.649 |
10.667 |
|
(d) Short-term
provisions |
0.088 |
0.635 |
0.000 |
|
Total Current
Liabilities (4) |
136.357 |
135.144 |
91.514 |
|
|
|
|
|
|
TOTAL |
345.263 |
337.866 |
288.198 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
86.998 |
82.752 |
81.270 |
|
(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 |
3.194 |
7.846 |
16.214 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
9.668 |
8.374 |
7.671 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
99.860 |
98.972 |
105.155 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
66.754 |
58.152 |
12.110 |
|
(c) Trade
receivables |
148.797 |
159.046 |
154.700 |
|
(d) Cash
and cash equivalents |
18.406 |
13.604 |
10.904 |
|
(e) Short-term
loans and advances |
11.446 |
8.092 |
5.329 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
245.403 |
238.894 |
183.043 |
|
|
|
|
|
|
TOTAL |
345.263 |
337.866 |
288.198 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
544.852 |
481.052 |
|
|
|
|
Other Income |
0.131 |
1.393 |
|
|
|
|
TOTAL |
544.983 |
482.445 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
473.789 |
445.134 |
|
|
|
|
Change in inventory |
(4.662) |
(44.663) |
|
|
|
|
Manufacturing Expenses |
32.203 |
38.108 |
|
|
|
|
Employees benefits expense |
9.049 |
8.239 |
|
|
|
|
Other expenses |
17.249 |
15.336 |
|
|
|
|
TOTAL |
527.628 |
462.154 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
17.355 |
20.291 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
6.943 |
9.495 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
10.412 |
10.796 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.208 |
2.769 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
7.204 |
8.027 |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.534 |
2.824 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
4.670 |
5.203 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.87 |
2.08 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.86 |
1.08 |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Sales) |
(%) |
3.19 |
4.22 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.11 |
2.43 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.06 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.65 |
0.69 |
0.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.80 |
1.77 |
2.00 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
25.000 |
25.000 |
25.000 |
|
Reserves & Surplus |
109.734 |
114.937 |
119.607 |
|
Net worth |
134.734 |
139.937 |
144.607 |
|
|
|
|
|
|
long-term borrowings |
56.371 |
56.615 |
57.745 |
|
Short term borrowings |
24.761 |
39.363 |
36.654 |
|
Total borrowings |
81.132 |
95.978 |
94.399 |
|
Debt/Equity ratio |
0.602 |
0.686 |
0.653 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Revenue from operations |
481.052 |
544.852 |
|
|
13.263 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Revenue from operations |
481.052 |
544.852 |
|
Profit |
5.203 |
4.670 |
|
|
1.08% |
0.86% |
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
two 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 |
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 |
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 |
LITIGATION DETAILS
|
CASE STATUS INFORMATION SYSTEM OSA
1 / 2015 OSASR
48 / 2015
CASE IS:PENDING PETITIONER
RESPONDENT M/S
IL&FS ENGINEERING AND CONSTRUCTION
VS M/S SPM POWER &
TELECOM PVT. LTD., COMPANY
LTD., HYD
HYD PET.ADV. : MADHAVA RAO
RESP.ADV. : GOPALA RAO
AMANCHARLA V SUBJECT: ORIGINAL SIDE APPEALS DISTRICT: HYDERABAD |
|
FILING DATE: 20‑01‑2015
POSTING STAGE :
INTERLOCUTORY REG. DATE : 22012015 LISTING DATE : 27022015 STATUS : NOTICES |
|
HON'BLE JUDGE(S): K.C.BHANU M.SEETHARAMA
MURTI |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10396824 |
15/12/2012 |
50,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH,6-3-879/B, 1ST
FLOOR, GPULLAREDDY BUILDING, BEGUMPET ROAD, HYDERABAD, Andhra Pradesh -
500016, INDIA |
B65820714 |
|
2 |
10206878 |
04/04/2012 * |
170,000,000.00 |
BANK OF MAHARASHTRA |
4/3-379, BANK STREET, 447, SULTAN BAZAR,
HYDERA |
B38501870 |
* Date of charge modification
FIXED ASSETS
- Land and Building
- Vehicle
- Office Equipment
- Furniture and Fixture
- Computer
- Plant and Machinery
- Delivery Vehicles
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.62.35 |
|
|
1 |
Rs.93.05 |
|
Euro |
1 |
Rs.67.15 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
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 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
42 |
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.