MIRA INFORM REPORT

 

 

Report No. :

335051

Report Date :

05.08.2015

 

IDENTIFICATION DETAILS

 

Name :

SHREE VAISHNAV INDUSTRIES PRIVATE LIMITED

 

 

Registered Office :

104-Shiv Ashish Complex, Plot No.10, 19th Road, Next to Mallhar Hotel, Chembur (East), Mumbai – 400071, Maharashtra

Tel. No.:

91-22-67304400

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

29.04.2004

 

 

Com. Reg. No.:

11-145976

 

 

Capital Investment / Paid-up Capital :

Rs.21.186 Million

 

 

CIN No.:

[Company Identification No.]

U27100MH2004PTC145976

 

 

IEC No.:

0307015637

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMS48644B

 

 

PAN No.:

[Permanent Account No.]

AAICS1080P

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

The company is primarily engaged in the manufacturing of angles, channels and beams of various shapes and sizes and also entered into trading activity especially in structural steel.

 

 

No. of Employees :

200 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (44)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track.

 

Profit of the company has increased slightly in FY2014.

 

However, the rating takes into consideration company’s sound financial risk profile marked by adequate networth base and fair liquidity position in FY 14.

 

Further, Mr. Sandip Dan (Senior Account Executive) claimed that sales turnover of FY14 was 3300 million which has not been verified.

 

Trade relations are fair. Business is active. Payment terms are reported to be usually 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.

 

 

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 : BBB [Suspended]

Rating Explanation

Moderate degree of safety and moderate credit risk.

Date

December, 2014

 

Rating Agency Name

ICRA

Rating

Short term rating : A3+[Suspended]

Rating Explanation

Moderate degree of safety and higher credit risk.

Date

December, 2014

 

Reason for suspension : Absence of requisite information from the company.

 

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. Sandip Dan

Designation :

Senior Account Executive

Contact No.:

91-22-67304400

Date :

04.08.2015

 

 

LOCATIONS

 

Registered Office / Factory  :

104-Shiv Ashish Complex, Plot No.10, 19th Road, Next to Mallhar Hotel, Chembur (East), Mumbai – 400071, Maharashtra, India

Tel. No.:

91-22-67304400 / 25274466

Fax No.:

91-22-67304410 / 11

E-Mail :

dsagrawal@yahoo.com

sales@vaishnavgroup.com

mail@vaishnavgroup.com

Website :

www.vaishnavgroup.com

 

 

Branch Office :

Survey No.54/2/2 and 54/2/3 Bharat Fertilizer Road, Village Vasuri Khurd, Wada, Thane, Maharashtra, India

 

 

DIRECTORS

 

AS ON 29.09.2014

 

Name :

Mr. Dinesh Shersingh Agarwal

Designation :

Director

Address :

Vaishnav Sadan Bunglow No.2, Vikas Classique Co-operative Housing Society, Behind Basant Cinema, Chembur, Mumbai – 400074, Maharashtra, India

Date of Appointment :

29.04.2004

PAN No.:

AAAPA5629D

DIN No.:

00636328

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U27300MH1994PTC077564

SHREE VAISHNAV ISPAT PRIVATE LIMITED

Director

06/04/1994

06/04/1994

31/03/2015

Active

NO

2

U27100MH2004PTC145976

SHREE VAISHNAV INDUSTRIES PRIVATE LIMITED

Director

29/04/2004

29/04/2004

-

Active

NO

3

U74900MH2007PTC170481

SHREE VAISHNAV UDYOG PRIVATE LIMITED

Director

01/05/2007

01/05/2007

-

Active

NO

4

U27310MH2007PTC170497

SHREE VAISHNAV CASTING PRIVATE LIMITED

Director

01/05/2007

01/05/2007

-

Active

NO

5

U51109MH2005PTC228504

SHREE VAISHNAV METAL AND POWER PRIVATE LIMITED

Director

14/03/2008

14/03/2008

-

Active

NO

6

U51109WB2005PTC105587

SUNBEAM SUPPLIERS PRIVATE LIMITED

Director

31/05/2008

31/05/2008

-

Active

NO

 

 

Name :

Mr. Shersingh Omprakash Agarwal

Designation :

Director

Address :

Vaishnav Sadan Bunglow No.2, Vikas Classique Co-operative Housing Society, Behind Basant Cinema, Chembur, Mumbai – 400074, Maharashtra, India

Date of Appointment :

29.04.2004

PAN No.:

AADPA3198C

DIN No.:

00636417

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U27100MH1996PTC100963

SHREE VAISHNAV ALLOYS PRIVATE LIMITED

Director

12/01/2004

12/01/2004

09/03/2015

Active

NO

2

U27100MH2004PTC145976

SHREE VAISHNAV INDUSTRIES PRIVATE LIMITED

Director

29/04/2004

29/04/2004

-

Active

NO

3

U74900MH2007PTC170481

SHREE VAISHNAV UDYOG PRIVATE LIMITED

Director

01/05/2007

01/05/2007

-

Active

NO

4

U27310MH2007PTC170497

SHREE VAISHNAV CASTING PRIVATE LIMITED

Director

01/05/2007

01/05/2007

-

Active

NO

5

U51109MH2005PTC228504

SHREE VAISHNAV METAL AND POWER PRIVATE LIMITED

Director

14/03/2008

14/03/2008

-

Active

NO

6

U51109WB2005PTC105587

SUNBEAM SUPPLIERS PRIVATE LIMITED

Director

31/05/2008

31/05/2008

-

Active

NO

7

U27101MH2009PTC192733

SHREE VAISHNAV WIRE & ROD PRIVATE LIMITED

Director

27/05/2009

27/05/2009

30/03/2015

Active

NO

8

U27300MH1994PTC077564

SHREE VAISHNAV ISPAT PRIVATE LIMITED

Director

15/11/2010

15/11/2010

-

Active

NO

9

U70102MH2013PTC245210

SHREE HARI OM LIFESPACES PRIVATE LIMITED

Director

04/07/2013

04/07/2013

-

Active

NO

10

U70102MH2007PTC176552

JUST DEVELOPERS PRIVATE LIMITED

Director

02/01/2014

02/01/2014

-

Active

NO

 

 

Name :

Mr. Manoj Sharma Kumar

Designation :

Additional director

Address :

B-101, Akruti Orchid Park, Near Vijay Print Bus Stop, Sakinaka, Andheri East, Mumbai - 400072, Maharashtra, India

Date of Appointment :

01.07.2015

DIN No.:

01627886

 

 

KEY EXECUTIVES

 

Name :

Mr. Sandip Dan

Designation :

Senior Account Executive

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 29.09.2014

 

Names of Shareholders

 

No. of Shares

Shersingh Agarwal

 

166071

Dinesh Agarwal

 

276464

Dinesh Agarwal (HUF)

 

38214

Rajrani Agarwal

 

245857

Shersingh Agarwal (H.U.F.)

 

51964

Preeta Agarwal

 

152000

Vipin Agarwal

 

130000

Shree Vaishnav Metal and Power Private Limited, India

 

46357

Ruchi Agarwal

 

72500

Sunbeam Suppliers Private Limited, India

 

308607

Shree Vaishnav Ispat Private  Limited, India

 

630535

 

 

 

Total

 

2118569

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 29.09.2014

 

Category

Percentage

Bodies corporate

46.52

Directors or relatives of Directors

53.48

 

 

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

The company is primarily engaged in the manufacturing of angles, channels and beams of various shapes and sizes and also entered into trading activity especially in structural steel.

 

 

Products :

Item Code No.

Product Description

72044900

MS bars and angles

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash, L/C and Credit

 

 

Purchasing :

Cash, L/C and Credit

 

PRODUCTION STATUS : NOT AVAILABLE

 

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Jadav Steel India Private Limited

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Wholesalers, Retailers and Manufacturer

Reference :

Inabensa Bharat Private Limited

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

200 (Approximately)

 

 

Bankers :

Bank Name

State Bank of India

Branch

Commercial Branch, 2nd Floor, N.G.Vaidya Marg, Gate No.4, Horniman Circle, Fort, Mumbai - 400001, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Rupee term loans from banks

[Straghting machine for Rs.6.868 million]

4.803

0.000

Other external commercial borrowings

0.521

0.168

Short-term borrowings

 

 

Rupee term loans from banks

[Against Stock of RM, FG, Other inventory, Book Debts, Term  Deposit, L&B]

471.655

322.034

Total

476.979

322.202

 

Financial Institute  :

Intec Capital Limited, 701, Manjusha, 57 Nehru Place, New Delhi - 110019, India

 

 

Auditors :

 

Name :

M. B. Agrawal and Company

Chartered Accountants

Address :

204, Mhatre Pen Building, Senapati Bapat Marg, Dadar (West), Mumbai-40002, Maharashtra, India

PAN No.:

AABFM5230D

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates:

·         R.V. Steel (Partnership concern)

·         Dinesh Steel (Proprietor Mr. Shersingh Agarwal)

·         Shree Vaishnav Alloys Private Limited

·         Shree Vaishnav Ispat Private Limited

·         Shree Vaishnav Udyog Private Limited

·         Shree Vaishnav Castings Private Limited

·         Shree Vaishnav Finance (Partnership concern)

·         Shree Vaishnav Metal and Power Private Limited

·         Shree Vaishnav Wire and Rod Private Limited

·         Sunbeam Suppliers Private Limited

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2,500,000

Equity Shares

Rs.10/- each

Rs.25.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2,118,569

Equity Shares

Rs.10/- each

Rs.21.186 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

21.186

21.186

21.186

(b) Reserves & Surplus

384.229

342.963

301.919

(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)

405.415

364.149

323.105

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

57.749

147.108

160.683

(b) Deferred tax liabilities (Net)

35.964

34.505

31.939

(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)

93.713

181.613

192.622

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

605.534

359.229

319.468

(b) Trade payables

355.971

342.789

395.581

(c) Other current liabilities

2.896

17.418

18.338

(d) Short-term provisions

20.727

18.086

25.758

Total Current Liabilities (4)

985.128

737.522

759.145

 

 

 

 

TOTAL

1484.256

1283.284

1274.872

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

234.949

237.832

218.886

(ii) Intangible Assets

0.041

0.054

0.036

(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

20.739

17.066

9.700

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

3.529

2.796

5.958

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

259.258

257.748

234.580

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

5.010

5.010

5.010

(b) Inventories

731.849

591.415

653.433

(c) Trade receivables

401.188

278.355

211.866

(d) Cash and cash equivalents

42.738

41.102

50.396

(e) Short-term loans and advances

14.741

65.936

61.392

(f) Other current assets

29.472

43.718

58.195

Total Current Assets

1224.998

1025.536

1040.292

 

 

 

 

TOTAL

1484.256

1283.284

1274.872

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

3300.000

(Approximately)

NA

NA

 

Other Income

NA

NA

NA

 

TOTAL

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

NA

NA

NA

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

62.655

60.855

84.636

 

 

 

 

 

Less

TAX

20.727

19.396

28.551

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

41.928

41.459

56.085

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 19.79

19.57

26.47

 

 

PARTICULARS

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

3300.000

 

 

 

 

 

Expected Sales ( 2015-2016 ) : Rs.3300.000 Million

 

The above information has been parted by Mr. Sandip Dan (Senior Account Manager).

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

2.897

17.418

18.338

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

12.176

144.002

13.934

Net cash flows from (used in) operating activities

(114.572)

12.953

(103.731)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Return on Total Assets

(PBT/Total Assets}

(%)

4.28

4.81

6.69

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.15

0.17

0.26

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.64

1.44

1.54

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.24

1.39

1.37

 

 

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

21.186

21.186

21.186

Reserves & Surplus

301.919

342.963

384.229

Share Application money pending allotment

0.000

0.000

0.000

Net worth

323.105

364.149

405.415

 

 

 

 

long-term borrowings

160.683

147.108

57.749

Short term borrowings

319.468

359.229

605.534

Current maturities of long term debt

18.338

17.418

2.897

Total borrowings

498.489

523.755

666.180

Debt/Equity ratio

1.543

1.438

1.643

 

 

 

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

No

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)

No

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 two years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

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

 

UNSECURED LOAN

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Loans and advances from directors

3.046

0.539

Other loans and advances, others

49.379

146.401

Short-term borrowings

 

 

Other external commercial borrowings

7.148

12.489

Loans repayable on demand from others

119.450

15.278

Loans and advances from others

7.281

9.428

Total

186.304

184.135

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10483594

25/02/2014

6,876,432.00

INTEC CAPITAL LIMITED

701,MANJUSHA, 57 NEHRU PLACE, NEW DELHI, DELHI - 
110019, INDIA

B98909013

2

10463298

26/11/2013 *

824,000,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, 2ND FLOOR, N.G.VAIDYA MARG,, G 
ATE NO.4, HORNIMAN CIRCLE, FORT,, MUMBAI, MAHARASH 
TRA - 400001, INDIA

B90859745

3

10004443

11/10/2013 *

633,800,000.00

STATE BANK OF INDIA

COMMERCIAL BRANCH, N.G.VAIDYA MARG,, HORNIMAN CIR 
CLE, FORT,, MUMBAI, MAHARASHTRA - 400001, INDIA

B90526567

 

* Date of charge modification

 

NOTE

 

The registered office of the company has been shifted from 519 Vyapar Bhavanp D’Mello Road, Carnac Bunder, Mumbai - 400009, Maharashtra, India to the present address w.e.f. 09.02.2008

 

FINANCIAL RESULTS

 

During the financial year, the company earned a Net Profit before tax of Rs.62.655 Million (Previous year Rs. 60.855 Million). The Profit after tax including provision for deferred tax is of Rs.41.928 Million (Previous year Rs. 41.459 Million).

 

BACKGROUND

 

The company is primarily engaged in the manufacturing of angles, channels and beams of various shapes and sizes. The company has also entered into trading activity especially in structural steel.

 

FIXED ASSETS

 

  • Land and Building
  • Factory Building
  • Furnace
  • Plant and Machinery
  • Electrical Installation
  • Crane
  • Mill Motors
  • Computer
  • Workshop Machinery
  • Office Equipment
  • Factory Office Building

 

 

 

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.70.04

 

 

INFORMATION DETAILS

 

Information Gathered by :

DPA

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

SNT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

44

 

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.