MIRA INFORM REPORT

 

 

Report No. :

334925

Report Date :

06.08.2015

 

IDENTIFICATION DETAILS

 

Name :

SEAZONE GRANITO PRIVATE LIMITED

 

 

Registered Office :

D/102 C, Ganesh Mardian, Opposite Kargil Petrol Pump, S.ZG. Highway, Sola Road, Ahmedabad – 380061, Gujarat

Tel. No.:

91-79-40327086

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

23.09.2010

 

 

Com. Reg. No.:

04-062398

 

 

Capital Investment / Paid-up Capital :

Rs.8.000 Million

 

 

CIN No.:

[Company Identification No.]

U26933GJ2010PTC062398

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

AHMS19800E

 

 

PAN No.:

[Permanent Account No.]

AAOCS8031N

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Ceramic Tiles

 

 

No. of Employees :

500 (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

 

 

Litigation :

Clear

 

 

Comments :

Seazone Granito Private Limited is a Private Limited Company incorporated on 23rd September, 2010.

 

It is having a moderate track record.

 

It is classified as Indian Non-Government Company and is registered at Registrar of Companies, Ahmedabad. Its authorized share capital is Rs. 10.000 Million and its paid up capital is Rs. 8.000 Million.

 

Directors of Seazone Granito Private Limited are Shaileshbhai Maganbhai Patel and Pravinkumar Chhaganbhai Patel.

 

The company has incurred loss from its operations during FY 2014.

 

However, trade relations are fair. Business is active. Payments 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

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

 

 

INFORMATION PARTED BY

 

Name :

Ms. Rutu

Designation :

Office Executive

Contact No.:

91-79-40327086

Date :

01.08.2015

 

 

Name :

Mr. Ashok Mishra

Designation :

Accounts Manager

Contact No.:

91-79-40327086

Date :

03.08.2015

 

 

LOCATIONS

 

Registered Office :

D/102 C, Ganesh Mardian, Opposite Kargil Petrol Pump, S.ZG. Highway, Sola Road, Ahmedabad – 380061, Gujarat, India

Tel. No.:

91-79-40327086

Fax No.:

91-79-40327077

E-Mail :

info@savanaceramics.com

Website :

http://ww.savanaceramic.com

Location :

Owned

Locality :

Commercial

 

 

Factory :

Plot No. 1207, Village Gojera, Tal – Jambusar, Dist. Bharuch, Vadodara – 392150, Gujarat, India

Tel. No.:

91-2644-233274

Fax No.:

91-2644-23373

Location :

Rented

Locality :

Industrial

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mr. Shaileshbhai Mganbhai Patel

Designation :

Managing Director

Address :

At: Badoli, TA: IDAR, Idar, Sabarkantha – 383430, Gujarat, India

Date of Birth/Age :

20.07.1975

Date of Appointment :

06.01.2012

DIN No.:

01456380

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

U26921GJ2002PTC041094

SONATA CERAMICA PRIVATE LIMITED

Whole-time director

09/08/2002

09/08/2002

15/10/2007

Active

NO

2

U26914GJ2008PTC052518

RICASIL CERAMIC INDUSTRIES PRIVATE LIMITED

Director

02/01/2008

02/01/2008

20/02/2012

Active

NO

3

U26933GJ2003PLC043039

REGENT GRANITO (INDIA) LIMITED

Managing director

01/05/2013

01/04/2008

-

Active

NO

4

U52190GJ2009PTC056788

REGENT RETAIL PRIVATE LIMITED

Director

01/05/2009

01/05/2009

-

Active

NO

5

U51430GJ2009PTC056790

REGENT BUILDMART PRIVATE LIMITED

Director

01/05/2009

01/05/2009

-

Active

NO

6

U26999GJ2010PTC060591

SAVINO MICRON (INDIA) PRIVATE LIMITED

Director

08/05/2010

08/05/2010

20/06/2014

Active

NO

7

U24100GJ2011PLC065904

SHAILON BIOTECH LIMITED

Director

14/06/2011

14/06/2011

-

Active

NO

8

U26933GJ2010PTC062398

SEAZONE GRANITO PRIVATE LIMITED

Managing director

16/01/2012

08/11/2011

-

Active

NO

9

U74999DL1990NPL038848

INDIAN COUNCIL OF CERAMIC TILES AND SANITARYWARE

Director

30/09/2013

08/06/2013

-

Active

NO

10

U26933GJ2015PTC082599

DEZARO TILES PRIVATE LIMITED

Director

16/03/2015

16/03/2015

-

Active

NO

11

U26960GJ2015PTC082619

ALICON TILES PRIVATE LIMITED

Director

18/03/2015

18/03/2015

-

Active

NO

 

 

Name :

Mr. Pravinkumar Chhaganbhai Patel

Designation :

Additional Director

Address :

AT and Pot-Revas, Idar, Sabarkantha – 383450, Gujarat, India

Date of Birth/Age :

26.06.1972

Date of Appointment :

30.09.2014

DIN No.:

06697001

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

U26933GJ2003PLC043039

REGENT GRANITO (INDIA) LIMITED

Director

27/09/2014

01/10/2013

-

Active

NO

2

U26933GJ2010PTC062398

SEAZONE GRANITO PRIVATE LIMITED

Director

30/09/2014

05/09/2014

-

Active

NO

3

U26933GJ2015PTC082599

DEZARO TILES PRIVATE LIMITED

Director

16/03/2015

16/03/2015

-

Active

NO

4

U26960GJ2015PTC082619

ALICON TILES PRIVATE LIMITED

Director

18/03/2015

18/03/2015

-

Active

NO

5

U52190GJ2009PTC056788

REGENT RETAIL PRIVATE LIMITED

Additional director

12/05/2015

12/05/2015

-

Active

NO

6

U51430GJ2009PTC056790

REGENT BUILDMART PRIVATE LIMITED

Additional director

12/05/2015

12/05/2015

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Ms. Rutu

Designation :

Office Executive

 

 

Name :

Mr. Ashok Mishra

Designation :

Accounts Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

No. of Shares

Narayanbhai Pashabhai Patel

8000

Shaileshbhai Mganbhai Patel

394000

Vijay Chander Gangwani

22000

Kodarbhai Mohanbhai Patel

258000

Pravinkumar Keshabhai Patel

8000

Pravinkumar Chhaganbhai Patel

32000

Nitinbhai Dahyabhai Patel

4000

Hasmukhbhai Dhulabhai Patel

2000

Arvindbhai Amrutbhai Patel

16000

Keshabhai Hirabhai Patel

56000

Total

800000

 

 

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 of Ceramic Tiles

 

 

Products :

Ceramic Tiles

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash and Cheque

 

 

Purchasing :

Cash and Cheque

 

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

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 :

End Users

 

Reference :

Not Divulged

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 :

500 (Approximately)

 

 

Bankers :

Bank Name

The Mehsana Urban Co-operative Bank Limited

Branch

Bhuyandev Cross Road, Ahmedabad, Gujarat, 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)

Cash Credit – Rs. 20.000 Million

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

 

 

Term loan from Bank

0.364

0.803

(Secured by way of Hypothecation of Vehicle/ Repayable within 36 EMI of Rs. 21160/-)

 

 

Term Loan from Reliance Capital Limited

8.934

9.148

(Secured by way of Hypothecation of Office Premises situated at D-102-C, 1st Floor, Ganesh Meridian)

 

 

Term Loan from Reliance Capital Limited

12.609

0.000

(Secured by way of Hypothecation of Digital Machine

 

 

 

 

 

Short-term borrowings

 

 

Working Capital from The Mehsana Urban Co-op. Bank Limited

20.455

21.012

 

 

 

Total

42.362

30.963

 

Financial Institutions :

Reliance Capital Limited, H, Block, 1st Floor, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai – 400710, Maharashtra, India

 

 

Auditors :

 

Name :

Ratilal and Mahendra

Chartered Accountants

Address :

F-72/73, 2nd Floor, Akashganga Complex, Near Bus Stand, Himatnagar – 383001, Gujarat, India

PAN N Income-tax PAN of auditor or auditor's firm :

ABBPP5195K

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

Not Available

 

 

 

 

CAPITAL STRUCTURE

 

As on 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1000000

Equity Shares

Rs.10/- each

Rs.10.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

800000

Equity Shares

Rs.10/- each

Rs.8.000 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

8.000

8.000

0.710

(b) Reserves & Surplus

(3.807)

2.602

0.833

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

2.900

Total Shareholders’ Funds (1) + (2)

4.193

10.602

4.443

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

88.010

72.926

31.916

(b) Deferred tax liabilities (Net)

0.936

0.936

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)

88.946

73.862

31.916

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

30.696

31.213

0.000

(b) Trade payables

121.200

83.265

49.030

(c) Other current liabilities

19.176

3.221

0.235

(d) Short-term provisions

0.198

1.546

0.514

Total Current Liabilities (4)

171.270

119.245

49.779

 

 

 

 

TOTAL

264.409

203.709

86.138

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

45.650

21.504

11.416

(ii) Intangible Assets

0.106

0.112

0.000

(iii) Capital work-in-progress

7.625

32.685

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.525

0.525

0.025

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

10.449

13.932

17.239

Total Non-Current Assets

64.355

68.758

28.680

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

146.105

92.365

37.211

(c) Trade receivables

42.841

31.946

8.251

(d) Cash and cash equivalents

1.919

1.685

1.656

(e) Short-term loans and advances

9.189

8.955

10.340

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

200.054

134.951

57.458

 

 

 

 

TOTAL

264.409

203.709

86.138

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

 

TURNOVER

168.413

160.341

15.293

 

 

 

 

 

Less

EXPENSES

NA

NA

NA

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION 

3.742

6.576

1.154

 

 

 

 

 

Less

FINANCIAL EXPENSES

7.685

2.187

0.048

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

(3.943)

4.389

1.106

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

2.467

1.048

0.077

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(6.410)

3.341

1.029

 

 

 

 

 

Less

TAX

0.000

1.572

0.196

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

(6.410)

1.769

0.833

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 8.01

 2.21

 1.04

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover

 

 

90.000

 

 

 

(Due to Market Fluctuation)

 

The above information has been parted by Mr. Ashok Mishra (Accounts Manager)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flow from operating activity

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

(3.81)

1.10

5.45

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

2.22

4.10

7.55

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(2.50)

1.96

1.19

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(1.53)

0.32

0.23

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

28.31

9.82

7.18

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.17

1.13

1.15

 

 

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

0.710

8.000

8.000

Reserves & Surplus

0.833

2.602

(3.807)

 Share Application money pending allotment

2.900

0.000

0.000

Net worth

4.443

10.602

4.193

 

 

 

 

long-term borrowings

31.916

72.926

88.010

Short term borrowings

0.000

31.213

30.696

Total borrowings

31.916

104.139

118.706

Debt/Equity ratio

7.183

9.823

28.311

 

 

 

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

15.293

160.341

168.413

 

 

948.460

5.034

 

 

 

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

15.293

160.341

168.413

Profit

0.833

1.769

(6.410)

 

5.45%

1.10%

(3.81%)

 

 

 

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

No

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

No

18

Major suppliers

No

19

Major customers

No

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 three years

Yes

27

Reasons for variation <> 20%

Yes

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

No

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 H-404, Shree Ratna Apartment, Near Surdhara Circle, Sun-N-Step Club Rpad, Memnagar, Ahmedabad – 380054, Gujarat, India to the present address w.e.f. 24.11.2011

 

 

OPERATION :

 

As compared to the previous year, the turnover of the Company for the year increased from Rs. 160.341 Million to Rs. 168.413 Million. During the year the company has incurred Net Loss of Rs. 6.410 Million as against the Net Profit of Rs. 1.769 Million in the previous year. Barring unforeseen circumstances the directors are hopeful to get better financial performance in the coming year.

 

 

UNSECURED LOAN

 

Unsecured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Loans and Advances from Related parties

 

 

From Director

63.717

58.579

From Shareholders/Relative of Directors

2.386

4.396

 

 

 

Short-term borrowings

 

 

From Others

9.741

6.701

Inter Corporate Deposit

 

 

Shantisuri Security Private Limited

0.500

0.000

Regent Granito (India) Private Limited

0.000

1.000

Ravikiran Trading (I) Private Limited

0.000

2.500

Total

76.344

73.176

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10427533

25/05/2013

15,000,000.00

RELIANCE CAPITAL LTD

"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai, Maharashtra - 400710, INDIA

B75751263

2

10407151

01/03/2013

9,165,000.00

RELIANCE CAPITAL LTD

"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai, Maharashtra - 400710, INDIA

B69231728

3

10424023

09/10/2012

20,000,000.00

THE MEHSANA URBAN CO-OPERATIVE BANK LIMITED

URBAN BANK ROAD,, HIGHWAY, MEHSANA, Gujarat - 384002, INDIA

B69915957

 

 

FIXED ASSETS

 

Tangible Assets

 

·         Factory Building

·         Plant and Equipment

·         Furniture and Fixture

·         Vehicle

 

 Intangible Assets

·         Tally 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 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.63.96

UK Pound

1

Rs.99.93

Euro

1

Rs.70.16

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

RSM

 

 

Report Prepared by :

SUJ

 

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

3

--PROFITABILITY

1~10

2

--LIQUIDITY

1~10

3

--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

NO

--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

 

--

 

 

 

 

 

 

 

 

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.