MIRA
INFORM REPORT
|
Report No. : |
335726 |
|
Report Date : |
06.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
SAKAR INDUSTRIES LIMITED [w.e.f.
24.10.2011] |
|
|
|
|
Formerly Known
As : |
SAKAR INDUSTRIES PRIVATE LIMITED [w.e.f. 19.09.2011] SAKAR FERRO ALLOYS PRIVATE LIMITED |
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|
|
Registered
Office : |
H 10, Madhavpura Market, |
|
Tel. No.: |
91-79-25622281 |
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Country : |
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|
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
19.07.1996 |
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|
|
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Com. Reg. No.: |
04-030244 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.16.388
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100GJ1996PLC030244 |
|
|
|
|
IEC No.: |
0802000703 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMS06283E |
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|
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PAN No.: [Permanent Account No.] |
AADCS3756P |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer, supplier, exporter and importer of ferrous and
non-ferrous metal and ferro alloys. |
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No. of Employees
: |
70 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1996 and it is a manufacturer and
importer of ferrous and non-ferrous metal and ferrous alloys. Subject is an established company having satisfactory track record. For the financial year ended 2014, sales turnover of the company has
declined which has resulted into dip in profit of the company during a year
under a review. However, rating takes into account of SIL’s extensive industry
experience of its promoters supported by sound financial base and average
debt protection metrics. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating= BB- |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
30.07.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating= A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
30.07.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Hitesh Bhatt |
|
Designation : |
Import Export Executive |
|
Contact No.: |
91-79-25622281 |
|
Date : |
06.08.2015 |
LOCATIONS
|
Registered Office : |
H-10, Madhavpura Market, Shahibaug Road, Ahmedabad - 380004, Gujarat,
India |
|
Tel. No.: |
91-79-25622281 / 25624681 |
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Fax No.: |
91-79-25620620 |
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E-Mail : |
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Website : |
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Factory : |
140-141, Santej-Vadsar Road, Post-Santej, Taluka Kalol, District Gandhinagar,
Gujarat, India |
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Tel No.: |
91-2764-286177 |
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Fax No.: |
91-2764-286176 |
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|
|
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Branch Offices : |
Gate No.1234, Sanaswadi, Pune Nagar Road, Pune – 412210, Maharashtra,
India Also Located at: · Hospet Faridabad |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Deepchand Rikhavchan Shah |
|
Designation : |
Director |
|
Address : |
Khandwala Bunglows, Near Post Office, Hirani Haveli, Dharam Nagar,
Sabarmati, Ahmedabad - 380005, Gujarat, India |
|
Date of Birth/Age : |
07.08.1944 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
29.09.2012 |
|
PAN No.: |
AFDPS6714F |
|
DIN No.: |
00182719 |
|
|
|
|
Name : |
Mr. Rameshkumar Rikhavchand Shah |
|
Designation : |
Director |
|
Address : |
Khandwala Bunglows, Near Post Office, Hirani Haveli, Dharam Nagar,
Sabarmati, Ahmedabad - 380005, Gujarat, India |
|
Date of Birth/Age : |
23.05.1965 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
25.09.2009 |
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PAN No.: |
AFDPS6715E |
|
DIN No.: |
00182764 |
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|
|
|
Name : |
Mr. Rohankumar Ramesh Shah |
|
Designation : |
Director |
|
Address : |
Khandwala Bunglows, Near Post Office, Hirani Haveli, Dharam Nagar,
Sabarmati, Ahmedabad - 380005, Gujarat, India |
|
Date of Birth/Age : |
05.10.1986 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
29.09.2012 |
|
PAN No.: |
BDGPS4472L |
|
DIN No.: |
05323800 |
KEY EXECUTIVES
|
Name : |
Mr. Hitesh Bhatt |
|
Designation : |
Import Export Executive |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Vimlaben Rameshkumar Shah |
153904 |
|
Reshmi Deepakkumar Shah |
159016 |
|
Rohan Rameshkumar Shah |
21296 |
|
Shobha Dilip Daga |
15000 |
|
Dilip Daga |
7500 |
|
Dilip Daga as Karta of Dilip Daga (HUF) |
7500 |
|
Jawerilal Nahta |
15000 |
|
Seemaben Deepchand Shah |
126041 |
|
Hardik Rameshbhai Shah |
151490 |
|
Rohan Rameshbhai Shah |
119448 |
|
Manjuben Bafna |
94491 |
|
Mayank Bafna |
25000 |
|
Ramesh Shah |
134150 |
|
Doonvally Finance and Leasing Limited |
75000 |
|
Oven Commercials Private Limited |
43750 |
|
Liberal Spinners Limited |
15625 |
|
Pushkar Trading and Holding Private Limited |
46875 |
|
Kavery Trading and Holding Private Limited |
34375 |
|
Drake Commercials Private Limited |
12500 |
|
Chaturang Commercials Private Limited |
15625 |
|
Deepchand R. Shah |
163053 |
|
Deepchand R. Shah (HUF) |
86753 |
|
Rameshkumar R. Shah (HUF) |
65288 |
|
Simul R. Shah |
50070 |
|
|
|
|
Total |
1638750 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
14.87 |
|
Directors or relatives of Directors |
82.38 |
|
Other top fifty shareholders |
2.75 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, supplier, exporter and importer of ferrous and
non-ferrous metal and ferro alloys. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
Arabian Countries |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
USA ·
Europe |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
70 (Approximately) |
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Bankers : |
· Punjab National Bank, Ambawadi Branch, Harikrupa Tower, Ellisbridge, Ahmedabad - 380006, Gujarat, India · Axis Bank Limited, Trishul 3rd Floor Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad - 380006, Gujarat, India |
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Facilities : |
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Auditors : |
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|
Name : |
Nalin K. Thakkar And Company Chartered Accountants |
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Address : |
602, Samudra Annex, Off CG Road, Ahmedabad, Gujarat, India
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PAN No.: |
AAKPT0207G |
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Collaborators : |
Not Divulged |
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Membership : |
Not Divulged |
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Associates: |
· Adinath Enterprise · Arfin Enterprise Limited · Arfin India Limited. · Arfin Capital Limited ·
Mahendra Corpration |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1638750 |
Equity Shares |
Rs. 10/- each |
Rs.16.388
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 |
16.388 |
16.388 |
16.388 |
|
(b) Reserves & Surplus |
189.734 |
183.035 |
167.963 |
|
(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) |
206.122 |
199.423 |
184.351 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
41.756 |
96.404 |
84.426 |
|
(b) Deferred tax liabilities
(Net) |
10.909 |
9.011 |
6.758 |
|
(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) |
52.665 |
105.415 |
91.184 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
311.084 |
475.401 |
576.969 |
|
(b) Trade payables |
24.515 |
55.166 |
42.538 |
|
(c) Other current liabilities |
10.652 |
12.347 |
138.429 |
|
(d) Short-term provisions |
3.861 |
9.572 |
6.999 |
|
Total
Current Liabilities (4) |
350.112 |
552.486 |
764.935 |
|
|
|
|
|
|
TOTAL |
608.899 |
857.324 |
1040.470 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
116.913 |
115.728 |
93.380 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.738 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
2.334 |
2.313 |
2.271 |
|
Total
Non-Current Assets |
119.985 |
118.041 |
95.651 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
197.133 |
309.471 |
287.777 |
|
(c) Trade receivables |
259.092 |
349.701 |
347.158 |
|
(d) Cash and cash equivalents |
15.036 |
45.344 |
268.684 |
|
(e) Short-term loans and
advances |
17.653 |
34.767 |
41.200 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
488.914 |
739.283 |
944.819 |
|
|
|
|
|
|
TOTAL |
608.899 |
857.324 |
1040.470 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1523.885 |
1960.136 |
2317.826 |
|
|
Other Income |
1.467 |
10.259 |
13.540 |
|
|
TOTAL
(A) |
1525.352 |
1970.395 |
2331.366 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1108.688 |
1500.846 |
1750.212 |
|
|
Purchases of Stock-in-Trade |
108.119 |
203.865 |
214.361 |
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
49.201 |
(31.383) |
44.079 |
|
|
Employees benefits expense |
18.025 |
19.000 |
19.221 |
|
|
Other expenses |
167.726 |
207.821 |
226.931 |
|
|
Exceptional Items |
0.000 |
(0.007) |
(0.671) |
|
|
TOTAL
(B) |
1451.759 |
1900.142 |
2254.133 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
73.593 |
70.253 |
77.233 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
58.260 |
42.400 |
42.990 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
15.333 |
27.853 |
34.243 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
5.537 |
5.022 |
4.899 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
9.796 |
22.831 |
29.344 |
|
|
|
|
|
|
|
Less |
TAX (H) |
3.097 |
7.759 |
11.168 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
6.699 |
15.072 |
18.176 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
70.923 |
55.850 |
NA |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
77.622 |
70.922 |
NA |
|
|
|
|
|
|
|
|
C.I.F. VALUE OF IMPORTS |
714.636 |
784.275 |
1108.473 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
|
|
|
|
|
Basic
|
4.09 |
9.20 |
11.09 |
|
|
Diluted
|
4.09 |
9.19 |
10.68 |
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
1910.000 |
Expected Sales (2015-2016): Rs.2500.000 Million
The above information has been parted by Mr. Hitesh
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
5.844 |
6.815 |
8.194 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
254.643 |
(66.438) |
95.506 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
0.44 |
0.77 |
0.78 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
4.83 |
3.58 |
3.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
1.61 |
2.66 |
2.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.11 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.74 |
2.90 |
3.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.40 |
1.34 |
1.24 |
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 |
16.388 |
16.388 |
16.388 |
|
Reserves & Surplus |
167.963 |
183.035 |
189.734 |
|
Net
worth |
184.351 |
199.423 |
206.122 |
|
|
|
|
|
|
long-term borrowings |
84.426 |
96.404 |
41.756 |
|
Short term borrowings |
576.969 |
475.401 |
311.084 |
|
Current Maturities of Long term debt |
8.194 |
6.815 |
5.844 |
|
Total
borrowings |
669.589 |
578.620 |
358.684 |
|
Debt/Equity
ratio |
3.632 |
2.901 |
1.740 |
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 |
|
Sales |
2317.826 |
1960.136 |
1523.885 |
|
|
|
(15.432) |
(22.256) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Sales
|
2317.826 |
1960.136 |
1523.885 |
|
Profit |
18.176 |
15.072 |
6.699 |
|
|
0.78% |
0.77% |
0.44% |
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 |
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 |
NOTE: Registered office of the company has been
shifted from 715, Sahajanand Complex, Shahibaug Road, Ahmedabad – 380004,
Gujarat, India to the present address w.e.f.
16.08.2010
OPERATIONAL AND
FINANCIAL REVIEW:
Due to global recession and adverse markets condition in India, revenue from operation and profitability of the Company has been adversely affected during the year under report. The revenue from operation from Faridabad and Pune branch rose substantially. However the revenue from operation at H.O. and Hospet Branch has gone down. Overall there was 22.59% reduction in operational revenue. The net revenue from operation has decreased from to Rs. 1970.396 Million in the previous year to Rs. 1525.352 Million during the year under report. Due to reduction in operational revenue the profit before and after tax also decreased as shown above. The Company is exploring all opportunities for business growth. The segment reporting in compliance of Accounting Standard 17 and necessary quantitative details as to sales from head office and various branches are given in Note No. 21 being the notes on accounts forming part of the audited financial statements.
CORPORATE
INFORMATION:
Business Activity: The Company is engaged in Manufacturing of Non-Ferrous Metals, Ferrous Metals and Ferro Alloys and Trading of scrap and other items.
Place of Business: The registered office of the company is at H-10, Madhavpura Market, Shahibaug Road, Shaibaug, Ahmedabad – 380004, Gujarat, India
The factory is situated at Survey No. 140-141, Santej-Vadsar Road, Taluka-Kalol, Dist. Ahmedabad – 382721, Gujarat, India
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Intercorporate deposits |
40.078 |
89.652 |
|
Loans and advances from directors |
0.000 |
2.325 |
|
|
|
|
|
Total |
40.078 |
91.977 |
INDEX OF CHARGES
|
S. No. |
Charge Id |
Date Of Charge Creation/Modification |
Charge Amount Secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10547511 |
24/01/2015 |
30,000,000.00 |
Axis Bank Ltd |
Trishul, 3rd Floor, Opp. Samrtheshwar Temple,, Law Garden, Ellisbridge,, Ahmedabad, Gujarat - 380006, India |
C42724153 |
|
2 |
10194139 |
30/03/2015 * |
460,000,000.00 |
Axis Bank Limited |
Trishul 3rd Floor
Opp. Samartheshwar Temple, Law G |
C50001700 |
* Date of charge modification
FIXED ASSETS:
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
· Other equipments
Intangible assets
· Brands and trade marks
· Trade marks
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.82 |
|
|
1 |
Rs.99.15 |
|
Euro |
1 |
Rs.69.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
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 |
|
42 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NB |
NEW BUSINESS |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.