MIRA INFORM REPORT
|
Report No. : |
335024 |
|
Report Date : |
05.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
NEVATIA STEEL AND ALLOYS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
904, 9th Floor, Lodha Supremus, Dr. E. Moses Road, Worli,
Mumbai – 400018, Maharashtra |
|
Tel. No.: |
91-22-61926192 |
|
|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
31.08.1988 |
|
|
|
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Com. Reg. No.: |
11-048666 |
|
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|
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Capital
Investment / Paid-up Capital : |
Rs. 31.700 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100MH1988PTC048666 |
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|
|
|
IEC No.: |
0396032028 |
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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, Exporter of Stainless steel wires and bars. |
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|
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No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Rating takes into consideration moderate financial risk profile of the
company marked by low reserve level leveraged capital structure and
unfavourable gap between trade payables and trade receivables in FY14. Moreover, company has incurred losses from its operations in the year
under consideration. However, trade relations are 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 fund based limits: B- |
|
Rating Explanation |
Risk prone credit quality and carries very high credit risk. |
|
Date |
March 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term fund based limits: A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
March 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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Jangir |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-61926192 |
|
Date : |
04.08.2015 |
LOCATIONS
|
Registered Office : |
904, 9th Floor, Lodha Supremus, Dr. E. Moses Road, Worli,
Mumbai – 400018, Maharashtra, India |
|
Tel. No.: |
91-22-61926192 |
|
Fax No.: |
91-22-61926100 |
|
E-Mail : |
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|
Website : |
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|
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|
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Plant 1: |
G-24, MIDC Industrial Estate, Boisar Tarapur, District Palghar – 401506, Maharashtra, India |
|
Tel. No.: |
91-2525-651999 |
|
|
|
|
Plant 2: |
Plot No. G-5 MIDC, Tarapur, Boisar, Thane- 401506, Maharashtra,
India |
|
Tel No.: |
91-2525-645454 |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Sharad Rameshwar Nevatia |
|
Designation : |
Managing director |
|
Address : |
Pitala Prasad, 1st Floor, 85, Worli Sea Face, Mumbai -
400030, Maharashtra, India |
|
Date of Birth/Age : |
28.04.1937 |
|
Date of Appointment : |
28.06.2002 |
|
DIN No.: |
00387897 |
|
PAN No.: |
AAAPN5703B |
|
|
|
|
Name : |
Mr. Nikhil Nevatia Sharad Kumar |
|
Designation : |
Whole-time director |
|
Address : |
Pitala Prasad, 1st Floor, 85, Worli Sea Face, Mumbai -
400030, Maharashtra, India |
|
Date of Birth/Age : |
01.11.1970 |
|
Date of Appointment : |
16.09.2000 |
|
DIN No.: |
00387578 |
|
PAN No.: |
AACPN1273A |
|
|
|
|
Name : |
Mr. Sitaram Baldeodas Shah |
|
Designation : |
Director |
|
Address : |
2 Prabhat 28 B Road, Churchgate, Mumbai - 400020,
Maharashtra, India |
|
Date of Birth/Age : |
07.05.1937 |
|
Date of Appointment : |
30.09.1989 |
|
DIN No.: |
00860423 |
|
PAN No.: |
AAEPS2618M |
|
|
|
|
Name : |
Mr. Hosi Rustomji Wadia |
|
Designation : |
Director |
|
Address : |
608, Parsi Colony, Dadar, Mumbai - 400014, Maharashtra,
India |
|
Date of Birth/Age : |
20.09.1938 |
|
Date of Appointment : |
30.09.1989 |
|
DIN No.: |
00964771 |
|
PAN No.: |
AAAPW2457K |
|
|
|
|
Name : |
Vandana Nikhil Nevatia |
|
Designation : |
Director |
|
Address : |
85, Pitale Prasad, Worli Sea - Face, Mumbai - 400030,
Maharashtra, India |
|
Date of Birth/Age : |
28.03.1969 |
|
Date of Appointment : |
05.03.2008 |
|
DIN No.: |
02095461 |
|
PAN No.: |
AAEPN8176E |
KEY EXECUTIVES
|
Name : |
Mr. Jangir |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Sharadkumar Nevatia |
|
1062500 |
|
Hosi Wadia |
|
200 |
|
Sunetebala Nevatia |
|
687500 |
|
Nikhil Nevatia |
|
1092600 |
|
Dinaz Wadia |
|
200 |
|
Vandana Nevatia |
|
280000 |
|
Niti Gupta |
|
1000 |
|
Vidita Nevatia |
|
20000 |
|
Vedant Nevatia |
|
25000 |
|
Namita Godha |
|
1000 |
|
Total |
|
3170000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter of Stainless steel wires and bars. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS: (AS ON 31.03.2014)
|
Production: * |
(MT) |
|
|
|
|
S. S. Wires & Bright Bars |
3,893.64 |
|
* Including Job work for third parties |
77.19 |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
ING Vysya Bank Limited, Mittal Towers, A-Wing, Ground Floor, 210 Nariman Point, Mumbai - 400021, Maharashtra, India
|
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
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|
Name : |
A. S. Sureka and Associates Chartered Accountant |
|
Address : |
201, Ashapura, 1-B, Kalyangram Cooperative Housing Society Limited, V.P. Road, Andheri West, Mumbai-400058, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAQPS2937L |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary company: |
Nevatia Steel UK Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500000 |
Equity Shares |
Rs.10/- each |
Rs. 35.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3170000 |
Equity Shares |
Rs.10/- each |
Rs. 31.700
Million |
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|
|
|
|
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 |
31.700 |
31.700 |
19.200 |
|
(b) Reserves & Surplus |
18.470 |
29.954 |
17.364 |
|
(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) |
50.170 |
61.654 |
36.564 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
22.000 |
22.099 |
55.601 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
22.000 |
22.099 |
55.601 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
207.482 |
181.011 |
201.970 |
|
(b) Trade payables |
134.102 |
162.793 |
85.323 |
|
(c) Other current liabilities |
17.999 |
10.060 |
13.268 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
359.583 |
353.864 |
300.561 |
|
|
|
|
|
|
TOTAL |
431.753 |
437.617 |
392.726 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
85.442 |
90.322 |
91.343 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.004 |
|
(iii) Capital work-in-progress |
4.296 |
0.000 |
1.535 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.010 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.659 |
2.776 |
4.467 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
93.407 |
93.098 |
97.349 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
131.456 |
83.406 |
93.094 |
|
(c) Trade receivables |
98.643 |
131.770 |
78.806 |
|
(d) Cash and cash equivalents |
12.402 |
13.113 |
16.675 |
|
(e) Short-term loans and
advances |
94.566 |
115.647 |
106.431 |
|
(f) Other current assets |
1.279 |
0.583 |
0.371 |
|
Total
Current Assets |
338.346 |
344.519 |
295.377 |
|
|
|
|
|
|
TOTAL |
431.753 |
437.617 |
392.726 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Net Operational Income |
860.574 |
931.371 |
907.676 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL
|
NA |
NA |
NA |
|
|
|
|
|
|
|
|
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
31.601 |
45.563 |
8.591 |
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
30.050 |
32.229 |
28.930 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.551 |
13.334 |
(20.339) |
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
13.035 |
12.362 |
12.378 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(11.484) |
0.972 |
(32.717) |
|
|
|
|
|
|
|
|
TAX |
0.000 |
0.882 |
(2.517) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(11.484) |
0.091 |
(30.200) |
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(28.814) |
(28.904) |
1.296 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(40.298) |
(28.813) |
(28.904) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
600.221 |
776.073 |
769.470 |
|
|
TOTAL
EARNINGS |
600.221 |
776.073 |
769.470 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Goods & Materials |
3.013 |
17.580 |
2.374 |
|
|
Capital Goods |
4.681 |
0.000 |
0.016 |
|
|
TOTAL
IMPORTS |
7.694 |
17.580 |
2.390 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(3.62) |
0.05 |
(20.40) |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
1200.000 |
The above information has been parted by Mr. Jangir
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.079 |
0.375 |
0.480 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
15.012 |
65.165 |
(16.857) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(1.33) |
0.01 |
(3.33) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
3.67 |
4.89 |
0.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.69) |
0.22 |
(8.36) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.23) |
0.02 |
(0.89) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.58 |
3.30 |
7.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.94 |
0.97 |
0.98 |
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 |
19.200 |
31.700 |
31.700 |
|
Reserves & Surplus |
17.364 |
29.954 |
18.470 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
36.564 |
61.654 |
50.170 |
|
|
|
|
|
|
long-term borrowings |
55.601 |
22.099 |
22.000 |
|
Short term borrowings |
201.970 |
181.011 |
207.482 |
|
Current maturities of
long-term debts |
0.480 |
0.375 |
0.079 |
|
Total
borrowings |
258.051 |
203.485 |
229.561 |
|
Debt/Equity
ratio |
7.058 |
3.300 |
4.576 |
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) |
|
Net Operational Income |
907.676 |
931.371 |
860.574 |
|
|
|
2.611 |
(7.601) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Net Operational Income |
907.676 |
931.371 |
860.574 |
|
Profit |
(30.200) |
0.091 |
(11.484) |
|
|
(3.33%) |
0.01% |
(1.33%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS
The combined Production of two plants for the year was 3,893.64M.T. as compared to the previous year’s tonnage of 4,553.17 M.T. For the first 8 months the exports to European market was almost negligent due to uncertainty about the anti-dumping duty, the investigation for which was initiated in the September 2013. Therefore, Net Operational Income has decreased by 16.34% from Rs. 931.371 Million to Rs. 779.152 Million. The company incurred Net Loss of Rs. 11.484 Million as against the Profit of Rs.0.972 Million in the previous year.
UNSECURED LOAN
Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Loans and advances from directors |
15.950 |
15.950 |
|
Loans and advances from others |
6.050 |
6.095 |
|
Total |
22.000 |
22.045 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10264982 |
27/03/2015 * |
70,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. |
C49557598 |
|
2 |
90232286 |
23/12/2011 * |
224,600,000.00 |
STATE BANK OF INDIA |
STERLING CENTRE
BRANCH,DR.ANNIE BESANT ROAD, WORL |
B30001226 |
|
3 |
90232189 |
17/05/2003 * |
7,000,000.00 |
STATE BANK OF INDIA |
WORLI BRANCH, MUMBAI, MAHARASHTRA - 400018, INDIA |
- |
|
4 |
90232164 |
17/05/2003 * |
2,000,000.00 |
STATE BANK OF INDIA |
WORLI BRANCH, MUMBAI, MAHARASHTRA - 400018, INDIA |
- |
|
5 |
90232155 |
12/01/2000 |
5,000,000.00 |
STATE BANK OF INDIA |
WORLI BRANCH, MUMBAI, MAHARASHTRA - 400018, INDIA |
- |
|
6 |
90232066 |
17/05/2003 * |
2,000,000.00 |
STATE BANK OF INDIA |
WORLI BRANCH, MUMBAI, MAHARASHTRA - 400018, INDIA |
- |
|
7 |
90231886 |
08/06/1994 |
250,000.00 |
STATE BANK OF INDIA |
STARLING CENTRE;
DR. ANNIE BESANT ROAD, WORLI BRA |
- |
|
8 |
90231863 |
05/01/1994 |
100,000.00 |
STATE BANK OF INDIA |
STARLING CENTRE;
DR. ANNIE BESANT ROAD, WORLI BRA |
- |
|
9 |
90231760 |
02/12/1991 |
250,000.00 |
STATE BANK OF INDIA |
STARLING CENTRE;
DR. ANNIE BESANT ROAD, WORLI BRA |
- |
|
10 |
90226869 |
24/11/1995 * |
8,400,000.00 |
SICOM LIMITED |
NIRMAL; 1ST FLOOR,
NARIMAN POINT, MUMBAI, MAHARAS |
- |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Emission reduction equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other equipments
Intangible assets
- 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, 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.63.93 |
|
UK Pound |
1 |
Rs.99.82 |
|
Euro |
1 |
Rs.70.05 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
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 |
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.