MIRA INFORM REPORT
|
Report No. : |
318043 |
|
Report Date : |
21.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
STERLING GENERATORS PRIVATE LIMITED (w.e.f.28.06.2005) |
|
|
|
|
Formerly Known
As : |
CHINSHA INVESTMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
10th Floor, Universal Majestic, P.L. Lokhande Marg, Chembur, Mumbai –
400043,
Maharashtra |
|
Tel. No.: |
91-22-25526100 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
24.02.1995 |
|
|
|
|
Com. Reg. No.: |
11-085899 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 500.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1995PTC085899 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC13338D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCC6140R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Diesel Generators and Control Panels. |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
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 |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is a subsidiary of SHAPOORJI PALLONJI AND COMPANY private
Limited. It is an established company having moderate track. The company has incurred heavy loss from its operations during FY
2014. The company is currently left with no reserves. Further, the company
also has taken huge external borrowings, which is threat to its liquidity.
Also, the company huge receivables which is continuously increasing. Available information indicates that company has weak financial profile,
low profitability and adverse capital structure. In the view of weak operational performance, subject 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based limits (CC) : BBB- |
|
Rating Explanation |
Moderate credit quality and average credit
risk. |
|
Date |
November 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non Fund based limits (LER/LC) : A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
November 2013 |
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. Sanjeev Jha |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-8347986862 |
|
Date : |
18.04.2015 |
LOCATIONS
|
Registered Office/ Corporate Office : |
10th Floor, Universal Majestic, P.L. Lokhande Marg,
Chembur, Mumbai – 400043, Maharashtra, India |
|
Tel. No.: |
91-22-25526100/ 25485300 |
|
Mobile No.: |
91-8347986862 (Mr. Sanjeev Jha) |
|
Fax No.: |
91-22-25526200/ 25485300 |
|
E-Mail : |
dgmumbai@steringgenerators.com
|
|
Website : |
|
|
|
|
|
Head Office : |
# 8 and 9, Sundaram Industrial Estate, Beside USV limited, |
|
Tel. No.: |
91-22-25526100/25526221 |
|
Fax No.: |
91-22-25526200 |
|
E-Mail : |
panelsales.mumbai@sterlinggenerators.com |
|
|
|
|
Marketing Office : |
A-7, Sector-6, Ground Floor, Opposite Rohan Motors, Noida – 201301,
Uttar Pradesh, India |
|
Tel. No.: |
91-120-4515600 |
|
Fax: |
91-120-4515610 |
|
|
|
|
Factory : |
Survey No. 59, 343/1 Village Kala, Kherdi, Khanvel Silvassa, Dadra and
Nagar Haveli U.T., India |
|
|
|
|
International Office : |
Sterling And Wilson Powergen LLC Office # 637 Business Village "B" PO Box 98960, Dubai, UAE |
|
Tel. No.: |
+97142369787 |
|
Fax: |
+97142989189 |
|
E-Mail : |
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Branch Offices : |
Located at:
|
DIRECTORS
As on: 25.09.2014
|
Name : |
Zarine Yazdi Daruvala |
|
Designation : |
Director |
|
Address : |
613, Dinshaw Mody Building, Jame Jamsed Road, Parsi Colony, Dadar,
Mumbai – 400014, Maharashtra, India |
|
Date of Birth/Age : |
17.12.1944 |
|
Date of Appointment : |
02.05.2005 |
|
PAN No.: |
AECPD6525K |
|
DIN No.: |
00190585 |
|
|
|
|
Name : |
Khurshed Yazdi Daruvala |
|
Designation : |
Whole-time director |
|
Address : |
613, Dinshaw Mody Building, Jame Jamsed Road, Parsi Colony, Dadar,
Mumbai – 400014, Maharashtra, India |
|
Date of Birth/Age : |
22.03.1969 |
|
Date of Appointment : |
02.05.2005 |
|
PAN No.: |
AACPD7565R |
|
DIN No.: |
00216905 |
|
|
|
|
Name : |
Kainaz Khurshed Daruvala |
|
Designation : |
Whole-time director |
|
Address : |
613, Dinshaw Mody Building, Jame Jamsed Road, Parsi Colony, Dadar,
Mumbai – 400014, Maharashtra, India |
|
Date of Birth/Age : |
11.12.1973 |
|
Date of Appointment : |
22.08.2008 |
|
PAN No.: |
ABRPD6924C |
|
DIN No.: |
00276056 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjeev Jha |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 25.09.2014
(Equity Share)
|
Names of Shareholders |
|
No. of Shares |
|
Shapoorji Pallonji and Company Limited,
India |
|
16799999 |
|
Shapoorji Pallonji and Company Limited,
India Jtly with Jimmy M. Parakh |
|
1 |
|
Daruvala Khurshed Kainaz Jtly with Daruvala Khurshed Delna |
|
4082500 |
|
Daruvala Khurshed Kainaz Jtly with Daruvala Khurshed Jehan |
|
4082489 |
|
Rashmi Vasant Gokhale Jtly with Daruvala Yazdi Khurshed |
|
1 |
|
Pesi Zarir Jtly with Daruvala Yazdi Khurshed |
|
1 |
|
Aloo Tata |
|
1 |
|
Unwalla Homi Farhad Jtly with Daruvala Khurshed Kainaz |
|
1 |
|
Unwalla Farhad Zenobia Jtly with Daruvala Khurshed Kainaz |
|
1 |
|
Lalla Rishad Jtly Daruvala Khurshed Kainaz |
|
1 |
|
Zarir Pervin Jtly with Daruvala Khurshed Kainaz |
|
1 |
|
Bhagat Jehangir Kersi Jtly with Daruvala Khurshed Kainaz |
|
1 |
|
Bhagat Kersi Zarine Jtly with Daruvala Khurshed Kainaz |
|
1 |
|
Daruvala Merwan Kersi Jtly with Daruvala Khurshed Kainaz |
|
1 |
|
Daruvala Yazdi Khurshed |
|
5034999 |
|
Adil Meharwan Daruvala Jtly with Khurshed Y. Daruvala |
|
1 |
|
Dilnavaz Kersi Daruvala Jtly with Khurshed Y. Daruvala |
|
1 |
|
|
|
|
|
Total |
|
30000000 |
Preference Share
|
Names of Shareholders |
|
No. of Shares |
|
Shapoorji Pallonji and Company Limited,
India |
|
112000 |
|
Shapoorji Pallonji and Company Limited,
India Jtly with Jimmy M. Parakh |
|
34000 |
|
Daruvala Khurshed Kainaz Jtly with Daruvala Khurshed Delna |
|
27000 |
|
Daruvala Khurshed Kainaz Jtly with Daruvala Khurshed Jehan |
|
27000 |
|
Total |
|
200000 |
Equity Share Break up (Percentage of Total Equity)
As on: 25.09.2014
|
Category |
Percentage |
|
Bodies corporate |
56.00 |
|
Directors or relatives of Directors |
44.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Diesel Generators and Control Panels. |
|
|
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|
Products : |
Diesel Generators and Control Panels |
|
|
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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 : |
Cash and Credit (30/60/90 Days) |
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Purchasing : |
Cash and Credit (30/60/90 Days) |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users and OEMs
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No. of Employees : |
50 (Approximately) |
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Bankers : |
· Axis Bank Limited 209, Ground Floor, Atlanta, Nariman Point Branch, Mumbai-400021,
Maharashtra, India |
||||||||||||||||||
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||||||||||||||||||
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Facilities : |
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Financial Institution : |
· Axis Trustee Services Limited Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang
Budhkar Marg, Worli, Mumbai - 400025, Maharashtra, India |
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|
|
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Auditors : |
|
|
Name : |
Kalyaniwalla and Mistry Chartered Accountants |
|
Address : |
B-14, Godrej Baug, Off Nepean Sea, Road, Mumbai – 400026, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFK7554R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary of above companies: |
Sterling Viking Power Private Limited |
|
|
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Fellow Subsidiaries: |
Range Consultation Private Limited Sterling & Wilson International FZE-UAE |
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Companies in which Key management personnel exercise significant Influence: |
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|
|
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Holding company : |
Shapoorji Pallonji and Company Limited [U45200MH1943PLC003812] |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 300.000 Million |
|
200,000 |
Preference Shares |
Rs. 1000/- each |
Rs. 200.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 300.000 Million |
|
200,000 |
Preference Shares |
Rs. 1000/- each |
Rs. 200.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 500.000
Millions |
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 |
500.000 |
300.000 |
300.000 |
|
(b) Reserves & Surplus |
(239.142) |
161.188 |
144.710 |
|
(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) |
260.858 |
461.188 |
444.710 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
339.150 |
280.650 |
456.800 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
22.779 |
22.517 |
17.319 |
|
Total Non-current
Liabilities (3) |
361.929 |
303.167 |
474.119 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
2738.571 |
2782.863 |
1995.854 |
|
(b) Trade
payables |
811.951 |
806.543 |
628.835 |
|
(c) Other
current liabilities |
432.844 |
368.619 |
264.999 |
|
(d) Short-term
provisions |
6.388 |
6.136 |
1.508 |
|
Total Current
Liabilities (4) |
3989.754 |
3964.161 |
2891.196 |
|
|
|
|
|
|
TOTAL |
4612.541 |
4728.516 |
3810.025 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
234.948 |
262.808 |
256.836 |
|
(ii)
Intangible Assets |
2.023 |
2.790 |
3.890 |
|
(iii)
Capital work-in-progress |
171.985 |
10.398 |
0.000 |
|
(iv)
Intangible assets under development |
7.951 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.050 |
0.050 |
0.000 |
|
(c) Deferred tax assets (net) |
13.406 |
13.406 |
10.142 |
|
(d) Long-term Loan and Advances |
19.850 |
51.068 |
8.013 |
|
(e) Other Non-current
assets |
9.838 |
13.637 |
16.486 |
|
Total Non-Current
Assets |
460.051 |
354.157 |
295.367 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1193.862 |
1480.861 |
1560.884 |
|
(c) Trade
receivables |
2513.380 |
2418.369 |
1575.323 |
|
(d) Cash
and cash equivalents |
56.726 |
125.389 |
74.052 |
|
(e)
Short-term loans and advances |
385.437 |
344.625 |
304.399 |
|
(f) Other
current assets |
3.085 |
5.115 |
0.000 |
|
Total Current
Assets |
4152.490 |
4374.359 |
3514.658 |
|
|
|
|
|
|
TOTAL |
4612.541 |
4728.516 |
3810.025 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
TURNOVER |
4069.400 |
3980.000 |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA
|
NA
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(365.711) |
24.396 |
(49.388) |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
(38.548) |
37.704 |
(37.484) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
DEFERRED TAX |
0.000 |
(3.264) |
8.899 |
|
|
|
|
|
|
|
|
|
|
WEALTH TAX |
(0.061) |
0.093 |
(0.084) |
|
|
|
|
|
|
|
|
|
|
SHORT PROVISION FOR
TAXATION |
3.990 |
0.000 |
(2.600) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(400.330) |
16.478 |
(80.657) |
|
|
|
|
|
|
|
|
|
|
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
161.188 |
144.710 |
225.367 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(239.142) |
161.188 |
144.710 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1092.291 |
634.332 |
495.550 |
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(13.34) |
0.55 |
(2.69) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
11.80 |
6.64 |
5.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04 |
1.10 |
1.22 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
300.000 |
300.000 |
500.000 |
|
Reserves & Surplus |
144.710 |
161.188 |
(239.142) |
|
Net worth |
444.710 |
461.188 |
260.858 |
|
|
|
|
|
|
long-term borrowings |
456.800 |
280.650 |
339.150 |
|
Short term borrowings |
1995.854 |
2782.863 |
2738.571 |
|
Total borrowings |
2452.654 |
3063.513 |
3077.721 |
|
Debt/Equity ratio |
5.515 |
6.643 |
11.798 |
YEAR ON YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Turnover |
3980.000 |
4069.400 |
|
|
|
2.246 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Turnover |
3980.000 |
4069.400 |
|
Profit/ Loss |
16.478 |
(400.330) |
|
|
0.41% |
(9.84%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: 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
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 |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from B-2, Bussa
Udyog Bhavan, T.J. Road, Sewri (West), Mumbai – 400015, Maharashtra, India to
the present address w.e.f. 20.01.2012.
PERFORMANCE:
The uncertainty and associated slow-down in the economy coupled with the tight fisted monetary policy, has impacted the Capital Goods Industry the most during the year. Though the demand and supply gap in electricity availability has widened, the demand for prime \ standby power equipment is yet to show any improvement due to the weak investment climate in the domestic and export markets.
The Company achieved a growth in Turnover over last year of 2.18 % at Rs. 4069.400 million, however, increase in input costs and the weal Rupee have adversely impacted the profitability of the Company during the year, resulting in a loss of Rs. 400.300 Million as against a profit of Rs. 16.500 Million in the previous year.
OUTLOOK:
The Company’s fortunes are dovetailed with the domestic market sentiments and with a stable Government, the investments in new projects is likely to improve.
UNSECURED LOAN
|
Particular |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Intercorporate deposits |
58.000 |
58.000 |
|
Loans and advances from directors |
281.150 |
222.650 |
|
Short-term
borrowings |
|
|
|
Loans repayable on demand |
240.000 |
340.000 |
|
|
|
|
|
Total |
579.150 |
620.650 |
INDEX OF CAHREGS:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10362698 |
16/06/2014 * |
3,650,000,000.00 |
Axis Trustee Services Limited |
Axis House, 2nd Floor, Bombay Dyeing Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai, Maharashtra - 400025, INDIA |
C09117235 |
* Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
|
Guarantees |
950.000 |
|
Other money for which company is contingently liable |
251.315 |
|
Total |
1201.315 |
FIXED ASSETS:
· Land
· Buildings
· Office building
· Factory building
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Other equipments
· Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No 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 |
|
|
1 |
Rs.93.56 |
|
Euro |
1 |
Rs.67.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
26 |
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.