MIRA INFORM REPORT

 

 

Report No. :

338540

Report Date :

27.08.2015

 

IDENTIFICATION DETAILS

 

Name :

SESA INTERNATIONAL LIMITED

 

 

Registered Office :

31, Shakespeare Sarani (Jasmine Tower), 6th Floor, Room No. 611,Kolkata – 700017, West Bengal

Tel. No.:

91-33-2200846

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

14.11.2002

 

 

Com. Reg. No.:

21-095369

 

 

Capital Investment / Paid-up Capital :

Rs.112.006 Million

 

 

CIN No.:

[Company Identification No.]

U51909WB2002PLC095369

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAGCS7916N

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader of Iron and Steel.

 

 

No. of Employees :

Information declined by the management.

 

 

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 :

Slow but Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated during the year 2002. It has a satisfactory track record.

 

For the financial year 2014, the company has fine operational activity marked by decent revenue profile along with an average profitability margin.

 

Further, the company possesses healthy financial risk profile and good networth position along with favourable gap between trade payables and receivables.

 

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

CRISIL

Rating

Long term rating = BB+

Rating Explanation

Inadequate credit quality and high credit risk.

Date

April 07, 2015

 

Rating Agency Name

CRISIL

Rating

Short term rating = A4+

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

April 07, 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 DENIED BY

 

Name :

Mr. Arun Bagri

Designation :

Chief Executive Officer

Contact No.:

91-33-2200846

Date :

26.08.2015

 

LOCATIONS

 

Registered Office :

31, Shakespeare Sarani (Jasmine Tower), 6th Floor, Room No. 611,Kolkata – 700017, West Bengal, India

Tel. No.:

91-33-22800846 / 22800847 / 48 / 22806943

Fax No.:

91-33-22800849

E-Mail :

sil@sesa.co.in

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Bulaki Das Bagri

Designation :

Director

Address :

85, Prince Anwar Shah Road (City High), Tower No. 3, 3rd Floor, Flat No 3l, Kolkata - 700033, West Bengal, India

Date of Birth/Age :

22.05.1937

Date of Appointment :

14.11.2002

PAN No.:

ADZPB4936G

DIN No.:

00424365

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

U23201WB1995PTC074030

BAGREE STEEL COMPANY PRIVATE LIMITED

Director

07/09/1995

07/09/1995

-

Active

NO

2

U51909WB2002PLC095369

SESA INTERNATIONAL LIMITED

Director

14/11/2002

14/11/2002

-

Active

NO

3

U27310WB2007PLC116819

SESA MINERALS LIMITED

Director

27/06/2007

27/06/2007

-

Active

NO

4

U27310WB1989PLC047251

BARON IMPEX LIMITED

Director

15/09/2008

15/09/2008

-

Active

NO

 

 

Name :

Uma Bagri

Designation :

Director

Address :

2C, Dover Road, Flat No. 1D, Kolkata - 700019, West Bengal, India

Date of Birth/Age :

22.10.1968

Date of Appointment :

14.11.2002

PAN No.:

AEMPB2091Q

DIN No.:

00424264

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

U27310WB1989PLC047251

BARON IMPEX LIMITED

Director

09/05/1992

09/05/1992

-

Active

NO

2

U67120WB1995PTC073885

GLADWELL SUPPLIERS PRIVATE LIMITED

Director

26/05/1998

26/05/1998

-

Converted to LLP

NO

3

U51909WB2002PLC095369

SESA INTERNATIONAL LIMITED

Director

14/11/2002

14/11/2002

-

Active

NO

4

U27310WB2007PLC116819

SESA MINERALS LIMITED

Whole-time director

01/09/2012

27/06/2007

-

Active

NO

5

U51909WB2009PTC131636

SESA COMMERCIAL PRIVATE LIMITED

Director

01/01/2009

01/01/2009

-

Active

NO

6

U51109WB2006PTC109779

TRINETRA TIE-UP PRIVATE LIMITED

Director

16/04/2012

16/04/2012

-

Active

NO

7

U51909WB2006PTC108365

MAHADEV TIE UP PRIVATE LIMITED

Director

16/04/2012

16/04/2012

-

Active

NO

8

U74140WB1994PTC063057

SHREE RAM COMPUTERS AND FINANCIAL CONSULTANTS PRIVATE LIMITED

Director

16/04/2012

16/04/2012

-

Active

NO

9

AAD-5879

GLADWELL SUPPLIERS LIMITED LIABILITY PARTNERSHIP

Designated Partner

20/03/2015

20/03/2015

-

Active

NO

 

 

Name :

Mr. Shankar Lal Bagri

Designation :

Managing Director

Address :

2C, Dover Road, Flat No. 1D, Kolkata - 700019, West Bengal, India

Date of Birth/Age :

27.03.1964

Date of Appointment :

01.09.2012

PAN No.:

AEPPB4827D

DIN No.:

00424313

 

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

U27310WB1989PLC047251

BARON IMPEX LIMITED

Director

09/05/1992

09/05/1992

-

Active

NO

2

U67120WB1995PTC073885

GLADWELL SUPPLIERS PRIVATE LIMITED

Director

18/03/1998

18/03/1998

-

Converted to LLP

NO

3

U51909WB2002PLC095369

SESA INTERNATIONAL LIMITED

Managing director

01/09/2012

16/01/2004

-

Active

NO

4

U27310WB2007PLC116819

SESA MINERALS LIMITED

Director

27/06/2007

27/06/2007

-

Active

NO

5

U51909WB2009PTC131636

SESA COMMERCIAL PRIVATE LIMITED

Director

01/01/2009

01/01/2009

-

Active

NO

6

U51109WB2006PTC109779

TRINETRA TIE-UP PRIVATE LIMITED

Director

16/04/2012

16/04/2012

-

Active

NO

7

U51909WB2006PTC108365

MAHADEV TIE UP PRIVATE LIMITED

Director

16/04/2012

16/04/2012

-

Active

NO

8

U74140WB1994PTC063057

SHREE RAM COMPUTERS AND FINANCIAL CONSULTANTS PRIVATE LIMITED

Director

16/04/2012

16/04/2012

-

Active

NO

9

AAD-5879

GLADWELL SUPPLIERS LIMITED LIABILITY PARTNERSHIP

Designated Partner

20/03/2015

20/03/2015

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Arun Bagri

Designation :

Chief Executive Officer

 

 

MAJOR SHAREHOLDERS

 

As on 30.09.2014

 

SHAREHOLDERS FILE ATTACHED

 

As on 30.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Bodies corporate

37.11

Directors or relatives of Directors

62.85

Other top fifty shareholders

0.04

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Trader of Iron and Steel.

 

 

Products :

·         Iron

·         Steel

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

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

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

Information declined by the management.

 

 

Bankers :

Banker Name

Oriental Bank of Commerce

Branch Address

Overseas Branch, (Lord's Building), 7/1, Lord Sinha Road (Ground Floor), Kolkata – 700071, West Bengal, 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 :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Loans taken for fixed assets

0.000

2.009

SHORT TERM BORROWING

 

 

Working capital loans from banks

728.405

881.826

Total

728.405

883.835

 

Auditors :

 

Name :

J. Jain and Company

Chartered Accountants

Address :

Fortuna Tower, 23 A Netaji Subhas Road, 11th Floor Room No. 44, Kolkata -

700001, West Bengal, India 

PAN No.:

AABFJ8069K

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates :

·         Sesa Minerals Limited, India

·         Baron Impex Limited, India 

·         Bagree Steel Company Private Limited, India

·         Sesa Commercial Private Limited, India

·         Gladwell Suppliers Private Limited, India

 

 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

11500000

Equity Shares

Rs.10/- each

Rs.115.000 Million

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

11200570

Equity Shares

Rs.10/- each

Rs.112.006 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

112.006

96.690

96.690

(b) Reserves & Surplus

528.918

441.774

421.283

(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)

640.924

538.464

517.973

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

160.242

113.626

138.397

(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)

160.242

113.626

138.397

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

728.405

881.826

548.508

(b) Trade payables

208.193

317.969

329.079

(c) Other current liabilities

122.928

177.517

180.531

(d) Short-term provisions

6.990

17.798

22.591

Total Current Liabilities (4)

1066.516

1395.110

1080.709

 

 

 

 

TOTAL

1867.682

2047.200

1737.079

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

4.360

5.845

6.501

(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

2.335

1.835

1.501

(c) Deferred tax assets (net)

0.732

0.641

0.234

(d)  Long-term Loan and Advances

47.603

13.433

12.856

(e) Other Non-current assets

212.000

212.000

227.430

Total Non-Current Assets

267.030

233.754

248.522

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

89.466

582.616

322.293

(c) Trade receivables

879.592

751.028

675.819

(d) Cash and cash equivalents

82.255

154.221

94.633

(e) Short-term loans and advances

481.814

238.816

377.613

(f) Other current assets

67.525

86.765

18.199

Total Current Assets

1600.652

1813.446

1488.557

 

 

 

 

TOTAL

1867.682

2047.200

1737.079

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

2463.236

2019.248

2511.317

 

Other Income

25.791

19.574

5.094

 

TOTAL

2489.027

2038.822

2516.411

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Purchases of Stock-in-Trade

1749.549

2141.996

2304.314

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

493.152

-260.323

-97.069

 

Employees benefits expense

3.152

2.620

0.745

 

Other expenses

129.827

93.102

200.892

 

TOTAL

2375.680

1977.395

2408.882

 

 

 

 

 

Less

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

113.347

61.427

107.529

 

 

 

 

 

Less

FINANCIAL EXPENSES

85.716

35.995

78.787

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

27.631

25.432

28.742

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

1.484

1.660

2.294

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

26.147

23.772

26.448

 

 

 

 

 

Less

TAX

9.455

8.306

10.449

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

16.692

15.466

15.999

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

911.161

411.287

192.880

 

TOTAL EARNINGS

911.161

411.287

192.880

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

213.341

681.400

623.486

 

TOTAL IMPORTS

213.341

681.400

623.486

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

1.49

1.38

1.42

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

0.167

0.127

0.328

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

43.352

(202.568)

(332.493)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

0.68

0.77

0.64

 

 

 

 

 

Operating Profit Margin

(PBDIT / Sales)

(%)

4.60

3.04

4.28

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.40

1.16

1.52

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.04

0.04

0.05

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

1.39

1.85

1.33

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.50

1.30

1.38

 

 

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

96.690

96.690

112.006

Reserves & Surplus

421.283

441.774

528.918

Net worth

517.973

538.464

640.924

 

 

 

 

long-term borrowings

138.397

113.626

160.242

Short term borrowings

548.508

881.826

728.405

Current Maturities of Long Term Debt

0.328

0.127

0.167

Total borrowings

687.233

995.579

888.814

Debt/Equity ratio

1.327

1.849

1.387

 

 

 

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

2511.317

2019.248

2463.236

 

 

(19.594)

21.988

 

 

 

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

2511.317

2019.248

2463.236

Profit

15.999

15.466

16.692

 

0.64%

0.77%

0.68%

 

 

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)

No

16

No. of employees

No

17

Details of sister concerns

Yes

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%

----------------------

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

No

35

Negative Reporting by Auditors in the Annual Report

No

 

Note:

Registered address has been shifted from the 40, Strand Road, 2nd Floor Room No 61, Kolkata – 700001, West Bengal, India to the present address w.e.f. 02.05.2007.

 

 

UNSECURED LOAN

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Loans and advances from related parties

33.728

5.840

Other loans and advances

126.514

105.777

Total

160.242

111.617

 

 

INDEX OF CHARGES

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10539455

20/12/2014

1,180,000,000.00

ORIENTAL BANK OF COMMERCE

OVERSEAS BRANCH, (LORD'S BUILDING), 7/1, LORD SINHA ROAD, (GROUND FLOOR), KOLKATA - 700071, WEST BENGAL, INDIA

C38538013

2

10325154

30/08/2013 *

362,500,000.00

ORIENTAL BANK OF COMMERCE

OVERSEAS BRANCH, (LORD'S BUILDING), 7/1, LORD SINHA ROAD, (GROUND FLOOR), KOLKATA - 700071, WEST BENGAL, INDIA

B86079019

3

10190226

23/11/2009

200,000,000.00

PUNJAB NATIONAL BANK

LYONS RANGE BRANCH 1 R.N. MUKHERJEE ROAD, KOLKATA - 700001, 
WEST BENGAL, INDIA

A75296962

4

10129003

11/12/2013 *

350,000,000.00

UNION BANK OF INDIA

OVERSEAS BRANCH, 9, INDIA EXCHANGE PLACE, KOLKATA - 700017, WEST BENGAL, INDIA

B94688546

5

90256710

11/12/2013 *

630,000,000.00

ORIENTAL BANK OF COMMERCE

OVERSEAS BRANCH, (LORD'S BUILDING), 7/1, LORD SINHA ROAD (GROUND FLOOR), KOLKATA - 700071, WEST BENGAL, INDIA

B95400149

 

* Date of charge modification

 

 

FIXED ASSETS

 

·         Land

·         Buildings

·         Plant and equipment

·         Furniture and fixtures

·         Vehicles

·         Motor vehicles

·         Office equipment

·         Computer equipment

·         Leasehold improvements

 

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.66.16

UK Pound

1

Rs.103.87

Euro

1

Rs.75.88

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

PNM

 

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

4

--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.