MIRA INFORM REPORT

 

 

Report No. :

318066

Report Date :

21.04.2015

 

IDENTIFICATION DETAILS

 

Name :

STERLING ELECTRO ENTERPRISES PRIVATE LIMITED

 

 

Registered Office :

101-106, Exim Link Building, 1st Floor, Mulund-Goregaon Link Road, Near Nahur Railway Station, Bhandup (West), Mumbai – 400 078, Maharashtra

Tel. No.:

91-22-66084800

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

19.07.1996

 

 

Com. Reg. No.:

11-101303

 

 

Capital Investment / Paid-up Capital :

Rs.2.956 million

 

 

CIN No.:

[Company Identification No.]

U31909MH1996PTC101303

 

 

IEC No.:

0308034341

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMS22679G

 

 

PAN No.:

[Permanent Account No.]

AABCS6528H

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject caters to the entire gamut of Electrical and Instrumentation projects globally including EPC, supply, erection, testing and commissioning services.

 

 

No. of Employees :

30 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (46)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was established as a proprietary organization in 1992 as “Sterling Enterprises” at the time of inception and subsequently incorporated as a private limited company in 1996 as “Sterling Electro Enterprises Private Limited.

 

It is having a satisfactory track.

 

There seems dip in the turnover as well as profit of the company during 2014.

 

However, general financial position of the company seems to be decent.

 

Trade relations are fair. Business is active. Payment terms are 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.

 

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 PARTED BY

 

Name :

Ms. Nisha Kaliyil

Designation :

Accounts Manager

Contact No.:

91-22-66084800

Date :

18.04.2015

 

 

LOCATIONS

 

Registered Office :

101-106, Exim Link Building, 1st Floor, Mulund-Goregaon Link Road, Near Nahur Railway Station, Bhandup (West), Mumbai – 400 078, Maharashtra, India

Tel. No. :

91-22-66084800

Fax No. :

91-22-66084888

E-Mail :

sterling@sterlingelectro.com

accounts@sterlingelectro.com

sterling.electro@vsnl.com

Website :

http://www.sterlingelectro.com

 

 

Regional Office 1 :

Shop No.11, Goyal Chamber, Plot No.82, Sector 9/C N.H. Gandhidham,
Kutch – 370 201, Gujarat, India

 

 

Regional Office 2 :

Shop No.104, 1st Floor, Amravati Apartment, Sai Road, Baddi, District Solan – 173 205, Himachal Pradesh, India

 

 

Regional Office 3 :

S-911, 9th Floor, South Block, Manipal Center No.47, Dickenson Road, Bangalore – 560 042, Karnataka, India

Tel. No. :

91-80-25593407

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Mohandas Nanoo

Designation :

Managing Director

Address :

701, C-Wing, 7th Floor, Golden Willow, Vasant Garden, Swapnagari, Mulund (West), Mumbai – 400 080, Maharashtra, India

Date of Birth/Age :

27.11.1957

Date of Appointment :

19.07.1996

DIN No.:

00295456

 

 

Name :

Mrs. Prameela Mohandas Nanu

Designation :

Director

Address :

701, C-Wing, 7th Floor, Golden Willow, Vasant Garden, Swapnagari, Mulund (West), Mumbai – 400 080, Maharashtra, India

Date of Birth/Age :

30.05.1970

Date of Appointment :

30.09.2002

DIN No.:

00283971

 

 

Name :

Mr. Thaiparambil Subramanian Dileep

Designation :

Director

Address :

238/4, 15th Road, Jawahar Nagar, Goregaon (East), Mumbai – 400 062, Maharashtra, India

Date of Birth/Age :

16.04.1955

Date of Appointment :

19.07.1996

DIN No.:

00288208

 

 

Name :

Ms. Preema Mohandas

Designation :

Director

Address :

701, C-Wing, 7th Floor, Golden Willow, Vasant Garden, Swapnagari, Mulund (West), Mumbai – 400 080, Maharashtra, India

Date of Birth/Age :

12.06.1991

Date of Appointment :

29.09.2012

DIN No.:

05266008

 

 

KEY EXECUTIVES

 

Name :

Ms. Nisha Kaliyil

Designation :

Accounts Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Percentage of holding

Mohandas Nanoo

9650

32.65

Thaiparambil Subramanian Dileep

5340

18.06

Prameela Mohandas Nanu

4080

13.80

K.G. Sathiamma

870

2.94

G. Nanoo

870

2.94

K.A. Gopalan

750

2.54

Preema Mohandas

8000

27.07

Total

29560

100.00

 

 

 

AS ON 30.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

Directors or relatives of Directors

100.00

 

                 

BUSINESS DETAILS

 

Line of Business :

Subject caters to the entire gamut of Electrical and Instrumentation projects globally including EPC, supply, erection, testing and commissioning services.

 

 

Products/ Services :

·         Design and Detailed Engineering

·         Electrical Services

·         Instrumentation and Control

·         Pre - Planning and Execution Planning

·         Procurement

·         Construction Management and Supervision

·         Field Engineering and Co - ordination

·         Erection, Testing and Commissioning

·         Test / Process Instrument Calibration

·         As - built Documentation and Constructability Reviews

·         Training and handing over

·         Operation and Maintenance

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Cash and Credit (30/ 60/ 90 days)

 

 

Purchasing :

Cash and Credit (30/ 60/ 90 days) 

 

PRODUCTION STATUS – NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Vashi Electricals

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

Shri NM Electricals

 

 

Customers :

End Users and OEM’s

 

Reference :

Jyothy Laboratories Limited

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

·         Nirma Limited

·         Aditya Birla - Grasim Industries Limited - (Grasim Cellulosic Division) Viscose, Vilayat, Gujarat

·         Colgate - Palmolive (India) Limited, Tooth Paste Division - Sanand, Ahmedabad, Gujarat. 

·         DCW Limited, Synthetic Iron Oxide Pigment Project Plant - Thoothukudi, Tamilnadu

·         Dr. Reddy's Laboratories Limited, CTO VI - Vizag, Andhra Pradesh

·         GAIL (India) Limited, Petrochemical Complex‐II Project - Pata, Uttar Pradesh

·         Hindustan Coca - Cola Beverages Private Limited, Siliguri, West Bengal

·         Hindustan Petroleum Corporation Limited, Mumbai, Maharashtra 

·         Hospira Healthcare India Private Limited, Aurangabad, Maharashtra

·         Indian Oil Corporation Limited, Sagar, Madhya Pradesh

·         Indian Rotorcraft Limited, Rangareddy, Andhra Pradesh 

·         ITC Limited, Bihar

·         JSW Steel Limited, Bellary, Karnataka

 

 

No. of Employees :

30 (Approximately)

 

 

Bankers :

Banker Name

The Bharat Co-Operative Bank (Mumbai) Limited

Branch Address

Bhandup Branch, Ground Floor, Gautam Udyog Bhavan, L.B.S. Marg, Bhandup (West), Mumbai – 400 078, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

002013100000086 

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Cash Credit Rs.90.000 million

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

·         HDFC Bank Limited

·         ICICI Bank Limited

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG TERM BORROWINGS

 

 

Car Loan from Bharat co-operative bank (Mumbai) Limited 

0.407

0.708

Car loan from ICICI Bank Limited 

3.658

0.495

Car loan from HDFC Bank Limited

(All car loans are against hypothecation of vehicles)

0.927

0.816

SHORT TERM BORROWINGS

 

 

From Banks

 

 

Cash Credit from Bharat Co-operative Bank (Mumbai) Limited

(Against hypothecation of raw materials, stock and sundry debtors and mortgage of immovable properties) 

87.295

57.210

Premises loan from Bharat Co-operative Bank (Mumbai) Limited

(Secured by mortgage of the premises)

0.000

0.213

Car Loan from Bharat co-operative bank (Mumbai) Limited 

0.301

0.301

Car loan from ICICI Bank Limited 

0.837

0.158

Car loan from HDFC Bank Limited

(All car loans are against hypothecation of vehicles)

0.339

0.245

Total

93.764

60.146

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Gajaria Shah and Associates

Chartered Accountants

Address :

305‐B/306, Neptune Uptown, Netaji Shubhash Road, Mulund (West), Mumbai – 400 080, Maharashtra, India

Tel. No. :

91-22-25643844/ 25605536

E-Mail :

k.gajaria@rediffmail.com

PAN No.:

AAAFK7135Q

 

 

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

40000

Equity Shares

Rs.100/- each

Rs.4.000 million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

29560

Equity Shares

Rs.100/- each

Rs.2.956 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

2.956

2.956

2.956

(b) Reserves & Surplus

53.015

45.416

34.843

(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)

55.971

48.372

37.799

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

39.264

32.560

29.415

(b) Deferred tax liabilities (Net)

0.274

0.047

0.000

(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)

39.538

32.607

29.415

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

88.772

58.127

27.658

(b) Trade payables

205.281

186.671

183.001

(c) Other current liabilities

43.482

11.124

15.223

(d) Short-term provisions

7.520

18.433

12.962

Total Current Liabilities (4)

345.055

274.355

238.844

 

 

 

 

TOTAL

440.564

355.334

306.058

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

34.750

31.648

27.693

(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

0.101

0.101

0.101

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

0.493

0.540

0.740

Total Non-Current Assets

35.344

32.289

28.534

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

31.913

14.631

17.895

(c) Trade receivables

329.725

273.303

231.308

(d) Cash and cash equivalents

26.374

23.120

18.676

(e) Short-term loans and advances

12.553

8.352

5.930

(f) Other current assets

4.655

3.639

3.715

Total Current Assets

405.220

323.045

277.524

 

 

 

 

TOTAL

440.564

355.334

306.058

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Turnover

745.948

850.441

639.485

 

 

 

(Due to market fluctuation)

 

 

 

Other Income

NA

NA

NA

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

NA

NA

NA

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

11.257

15.815

12.268

 

 

 

 

 

Less

TAX                                                                 

3.658

5.242

4.154

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

7.599

10.573

8.114

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Sales

37.634

NA

NA

 

TOTAL EARNINGS

37.634

NA

NA

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

257.08

357.69

274.50

 

Expected Sales (2014-2015): Rs.800.000 million

 

The above information has been parted by Ms. Nisha Kaliyil (Accounts Manager).

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

1.02

1.24

1.27

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

2.56

4.45

4.01

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.20

0.33

0.32

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

2.29

1.87

1.51

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.17

1.18

1.16

 

 

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

2.956

2.956

2.956

Reserves & Surplus

34.843

45.416

53.015

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

37.799

48.372

55.971

 

 

 

 

Long Term borrowings

29.415

32.560

39.264

Short Term borrowings

27.658

58.127

88.772

Total borrowings

57.073

90.687

128.036

Debt/Equity ratio

1.510

1.875

2.288

 

 

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)

Turnover

639.485

850.441

745.948

 

 

32.988

(12.287)

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(INR in Million)

(INR in Million)

(INR in Million)

Turnover

639.485

850.441

745.948

Profit

8.114

10.573

7.599

 

1.27%

1.24%

1.02%

 

 

LOCAL AGENCY FURTHER INFORMATION

 

NOTE: Current Maturities of Long Term Debts is Not Available.

 

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%

Yes

14]

Estimation for coming financial year

Yes

15]

Capital in the business

Yes

16]

Details of sister concerns

No

17]

Major suppliers

Yes

18]

Major customers

Yes

19]

Payments terms

Yes

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

No

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

No

 

NOTE:

 

The registered address of the company has been shifted from 4008/4009, A-Wing, Nahar and Seth Industrial Estate, L.B.S. Marg, Bhandup (West), Mumbai – 400 078, Maharashtra to the present address w.e.f. 06.01.2009.

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG TERM BORROWINGS

 

 

From Directors

34.272

1.541

From Others

 

 

Aricent Infra Limited

0.000

3.000

Aphelion Investment and Finance Private Limited

0.000

9.000

Casper Enterprises Private Limited

0.000

2.000

Prabhav Industries Limited

0.000

2.000

Pragati Gems Private Limited

0.000

4.500

Sanguine Media Limited

0.000

4.000

Shri Ganesh Spinner Limited

0.000

1.500

Vahani Investments Private Limited

0.000

3.000

Total

34.272

30.541

 

 

INDEX OF CHARGES

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10293631

17/06/2011

1,500,000.00

THE BHARAT CO - OPERATIVE BANK (MUMBAI) LIMITED

BHANDUP BRANCH, GAUTAM UDYOG BHAVAN, LBS MARG, BHANDUP (WEST), MUMBAI, MAHARASHTRA - 400078, INDIA

B15528300

2

10211852

01/07/2010 *

20,000,000.00

THE BHARAT CO-OPERATIVE BANK (MUMBAI) LIMITED

BHANDUP BRANCH, GROUND FLOOR, GAUTAM UDYOG BHAVAN, LBS MARG, BHANDUP (WEST), MUMBAI, MAHARASHTRA - 400078, INDIA

A89020457

3

10124511

23/09/2008

2,000,000.00

THE BHARAT CO-OPERATIVE BANK (MUMBAI) LIMITED

BHANDUP BRANCH, GAUTAM UDYOG BHAVAN, 1ST FLOOR, 
L.B.S MARG, BHANDUP (WEST), MUMBAI, MAHARASHTRA - 
400078, INDIA

A47514153

4

10124510

18/09/2008

1,800,000.00

THE BHARAT CO-OPERATIVE BANK (MUMBAI) LIMITED

BHANDUP BRANCH, GAUTAM UDYOG BHAVAN, 1ST FLOOR, 
L.B.S MARG, BHANDUP (WEST), MUMBAI, MAHARASHTRA - 
400078, INDIA

A47513155

5

10087440

04/02/2008

6,500,000.00

THE BHARAT CO-OPERATIVE BANK (MUMBAI) LIMITED

BHANDUP BRANCH , GAUTAM UDYOG BHAVAN, 1ST FLOOR, 
L.B.S MARG, BHANDUP (WEST), MUMBAI, MAHARASHTRA 
- 400078, INDIA

A32361859

6

90158221

03/09/2013 *

250,000,000.00

THE BHARAT CO-OPERATIVE BANK (MUMBAI) LIMITED

BHANDUP BRANCH, GROUND FLOOR, GAUTAM UDYOG BHAVAN, LBS MARG, BHANDUP (WEST), MUMBAI, MAHARASHTRA - 400078, INDIA

B84680701

7

90159668

03/09/2013 *

90,000,000.00

THE BHARAT CO-OPERATIVE BANK (MUMBAI) LIMITED

BHANDUP BRANCH, GROUND FLOOR, GAUTAM UDYOG BHAVAN, LBS MARG, BHANDUP (WEST), MUMBAI, MAHARASHTRA - 400078, INDIA

B84687847

 

* Date of charge modification

 

 

FIXED ASSETS

 

·         Air Conditioner

·         Computer and Accessories

·         Furniture and Fittings

·         Office Premises

·         Electrical Installation

·         Machinery

·         Motor Car

·         Office Equipment

·         Two Wheeler

·         Tools and Equipment

·         Trucks and Tractor


 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :  No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.56

UK Pound

1

Rs.93.56

Euro

1

Rs.67.49                                                               

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

SMN

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

-- PROFITABILITY

1~10

4

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

6

--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

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

46

 

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

 

--

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.