MIRA INFORM REPORT
|
Report No. : |
351768 |
|
Report Date : |
01.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
R.S. ISPAT LIMITED (w. e. f. 25.06.2008) |
|
|
|
|
Formerly Known
As : |
R.S. ISPAT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-401 City Centre, Salt Lake, Kolkata- 700064, West Bengal |
|
Tel. No.: |
91-33-23589109/ 5401/ 4453/ 23584494/23584453 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
14.12.1994 |
|
|
|
|
Com. Reg. No.: |
21-066539 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 80.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109WB1994PLC066539 |
|
|
|
|
IEC No.: |
0296015121 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCR1890D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Products steel ingots, billets, and
thermo – mechanically – treated steel bars. |
|
|
|
|
No. of Employees
: |
Not available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1994 and it is having
satisfactory track record. Rating reflects above average financial risk profile marked by decent liquidity
opposition of the company along with comfortable capital structure. Rating further takes consideration on promoter’s extensive industry
experienced and company established track record in steel business. This rating strength is partially offset by vulnerability of the
company’s profit margins to volatility in steel prices and the susceptibility
to cyclicality in the steel industry. Trade relations are reported to be fair. Business is active. Payments
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 |
CRISIL |
|
Rating |
Long term rating = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
September 04, 2014 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
September 04, 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
31-03-2015.
LOCATIONS
|
Registered Office : |
B-401 City Centre, Salt Lake, Kolkata- 700064, West Bengal, India |
|
Tel. No.: |
91-33-23589109/ 5401/ 4453/ 23584494/23584453 |
|
Fax No.: |
91-33-23584436 |
|
E-Mail : |
|
|
Web: |
|
|
|
|
|
Factory: |
Jindal Industrial Park, Raipur - 493221, Chhattisgarh, India |
DIRECTORS
As on: 30.09.2014
|
Name : |
Mr. Rakesh Agarwal |
|
Designation : |
Director |
|
Address : |
R.605, The Residency City Centre, Salt Lake, Sector – I, Kolkata –
700064, West Bengal, India |
|
Date of Birth/Age : |
20.10.1977 |
|
Date of Appointment : |
14.12.1994 |
|
DIN No.: |
00462688 |
|
Voter ID No.: |
XOY1434125 |
|
|
|
|
Name : |
Mr. Radheyshyam Agarwal |
|
Designation : |
Director |
|
Address : |
R.605, The Residency City Centre, Salt Lake, Sector – I, Kolkata –
700064, West Bengal, India |
|
Date of Birth/Age : |
14.08.1954 |
|
Date of Appointment : |
14.12.1994 |
|
DIN No.: |
00462689 |
|
Voter ID No.: |
XOY1434109 |
|
|
|
|
Name : |
Mrs. Manju Devi Agarwal |
|
Designation : |
Director |
|
Address : |
R.605, The Residency City Centre, Salt Lake, Sector – I, Kolkata –
700064, West Bengal, India |
|
Date of Birth/Age : |
13.03.1957 |
|
Date of Appointment : |
14.12.1994 |
|
DIN No.: |
01171102 |
|
Voter ID No.: |
AGHPA4212B |
KEY EXECUTIVES
|
Name : |
Mr. Nandlal Saraogi |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Radhey Shyam Agarwal |
|
791686 |
|
Agarwal Rakesh |
|
625425 |
|
Agarwal Shyama |
|
92000 |
|
Gupta Amita |
|
52550 |
|
Agarwal Manju Devi |
|
386800 |
|
Saraf Poonam |
|
74389 |
|
Agarwal Savitri Devi |
|
8400 |
|
Jha Shiva Nath |
|
12500 |
|
Radhey Shyam Agarwal (HUF) |
|
243700 |
|
Rakesh Agarwal (HUF) |
|
54850 |
|
R. S. Concast Limited |
|
8000 |
|
R. S. Sponge Iron Private Limited |
|
9000 |
|
Goodworth Investments Private Limited |
|
5690700 |
|
|
|
|
|
Total |
|
8050000 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
70.90 |
|
Directors or relatives of Directors |
28.94 |
|
Other top fifty shareholders |
0.16 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Products steel ingots, billets, and
thermo – mechanically – treated steel bars. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
State Bank of India, Industrial Finance Branch, 11, Dr. U. N. Brahmachari Street, Kolkata - 700017, West Bengal, India |
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|
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|
Facilities : |
(Rs.
In Million)
|
|
|
|
|
Banking
Relations : |
SBI Factors And Commercial Services Private Limited, 12, Ho Chi Minh Sarani,, Flat I-D, 1st Floor, Kolkata - 700071, West Bengal, India |
|
|
|
|
Auditors : |
|
|
Name : |
Dokania S Kumar And Company Chartered Accountant |
|
Address : |
598/2, Sarat Chatterjee Road, Shibpur, Howrah- 711102, Gujarat, India |
|
PAN No.: |
AADFD7955N |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates |
|
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Million |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,050,000 |
Equity Shares |
Rs.10/- each |
Rs. 80.500
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 |
80.500 |
80.500 |
80.500 |
|
(b) Reserves & Surplus |
383.747 |
365.411 |
339.100 |
|
(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) |
464.247 |
445.911 |
419.600 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
19.426 |
7.108 |
7.083 |
|
(b) Deferred tax liabilities (Net) |
8.251 |
8.901 |
10.017 |
|
(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) |
27.677 |
16.009 |
17.100 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
45.721 |
341.677 |
281.424 |
|
(b) Trade
payables |
236.007 |
385.948 |
375.361 |
|
(c) Other current
liabilities |
61.772 |
79.599 |
121.616 |
|
(d) Short-term
provisions |
1.946 |
1.502 |
1.417 |
|
Total Current
Liabilities (4) |
345.446 |
808.726 |
779.818 |
|
|
|
|
|
|
TOTAL |
837.370 |
1270.646 |
1216.518 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
152.332 |
172.321 |
194.070 |
|
(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 |
2.555 |
2.051 |
2.223 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
32.601 |
24.005 |
24.987 |
|
(e) Other Non-current
assets |
1.828 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
189.316 |
198.377 |
221.280 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
145.346 |
145.338 |
246.963 |
|
(c) Trade
receivables |
415.596 |
567.499 |
501.765 |
|
(d) Cash
and cash equivalents |
4.270 |
17.639 |
27.606 |
|
(e)
Short-term loans and advances |
79.065 |
334.490 |
204.690 |
|
(f) Other
current assets |
3.777 |
7.303 |
14.214 |
|
Total
Current Assets |
648.054 |
1072.269 |
995.238 |
|
|
|
|
|
|
TOTAL |
837.370 |
1270.646 |
1216.518 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
3975.455 |
4623.967 |
4309.578 |
|
|
|
Other Income |
66.778 |
224.214 |
121.085 |
|
|
|
TOTAL (A) |
4042.233 |
4848.181 |
4430.663 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
3192.584 |
3739.021 |
3271.694 |
|
|
|
Purchases of Stock-in-Trade |
193.942 |
346.441 |
470.366 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(22.541) |
41.273 |
0.822 |
|
|
|
Employees benefits expense |
8.284 |
8.642 |
7.842 |
|
|
|
Other expenses |
584.293 |
586.040 |
594.676 |
|
|
|
Prior Period Items |
0.110 |
(0.889) |
(1.588) |
|
|
|
TOTAL (B) |
3956.672 |
4720.528 |
4343.812 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
85.561 |
127.653 |
86.851 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
37.439 |
65.797 |
36.226 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
48.122 |
61.856 |
50.625 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
19.97 |
22.788 |
25.548 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
28.152 |
39.068 |
25.077 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
9.816 |
12.757 |
11.343 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
18.336 |
26.311 |
13.734 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.27 |
3.26 |
1.71 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
5.764 |
2.808 |
16.958 |
|
Cash generated from operations |
72.366 |
102.192 |
58.242 |
|
Net Cash flows from operating activities |
63.082 |
110.749 |
38.677 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.46 |
0.57 |
0.32 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
2.15 |
2.76 |
2.02 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.37 |
3.08 |
2.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.09 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.15 |
0.79 |
0.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.88 |
1.33 |
1.28 |
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 |
80.500 |
80.500 |
80.500 |
|
Reserves & Surplus |
339.100 |
365.411 |
383.747 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
419.600 |
445.911 |
464.247 |
|
|
|
|
|
|
long-term borrowings |
7.083 |
7.108 |
19.426 |
|
Short term borrowings |
281.424 |
341.677 |
45.721 |
|
Current maturities of
long-term debts |
16.958 |
2.808 |
5.764 |
|
Total borrowings |
305.465 |
351.593 |
70.911 |
|
Debt/Equity ratio |
0.728 |
0.788 |
0.153 |
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) |
|
Revenue from Operations |
4309.578 |
4623.967 |
3975.455 |
|
|
|
7.295 |
(14.025) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Revenue from Operations |
4309.578 |
4623.967 |
3975.455 |
|
Profit |
13.734 |
26.311 |
18.336 |
|
|
0.32% |
0.57% |
0.46% |
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 |
Yes / 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 / No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
Yes / No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes / No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
Yes / No |
|
19 |
Major customers |
Yes / No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes / No |
|
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 / No |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
Yes / No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
--- |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
Particular |
As
on 31.03.2014 (Rs.
IN Million) |
As
on 31.03.2013 (Rs.
IN Million) |
|
Long Term
Borrowing |
|
|
|
Loan From Related Parties |
19.426 |
7.108 |
|
Total |
19.426 |
7.108 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10362612 |
03/05/2012 |
130,700,000.00 |
STATE BANK OF INDIA |
SME Branch , 5th Floor, Sky Star Building, Sevoke Road, Siliguri - 734001, West Bengal, INDIA |
B42448712 |
|
2 |
10203759 |
25/01/2010 |
100,000,000.00 |
STATE BANK OF INDIA |
SME Branch , 5th Floor, Sky Star Building, Sevoke Road, Siliguri - 734001, West Bengal, INDIA |
A80205750 |
|
3 |
10169762 |
29/05/2008 |
40,000,000.00 |
STATE BANK OF INDIA |
Commercial Branch, Salt Lake, Plot No. X-1, 8/1, |
A67032581 |
|
4 |
80020427 |
10/01/2014 * |
415,000,000.00 |
STATE BANK OF INDIA |
Industrial Finance Branch, Kolkata, 11, Dr. U. N. |
B94012895 |
|
5 |
80044259 |
10/01/2014 * |
415,000,000.00 |
STATE BANK OF INDIA |
Industrial Finance Branch, Kolkata, 11, Dr. U. N. |
B94012192 |
|
6 |
90253634 |
13/01/2005 * |
39,600,000.00 |
STATE BANK OF INDIA |
Industrial Finance Branch, Kolkata, 11, Dr. U. N. |
- |
* Date of charge modification
FIXED ASSETS
·
Land
·
Buildings
·
Plant and equipment
·
Factory Equipments
·
Furniture and fixtures
·
Vehicles
·
Office equipment
·
Computer Equipments
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.66.75 |
|
|
1 |
Rs.100.68 |
|
Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
|
Analysis Done by
: |
KSP |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.