MIRA INFORM REPORT
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Report No. : |
353474 |
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Report Date : |
09.12.2015 |
IDENTIFICATION DETAILS
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Name : |
ASPEE SPRINGS LIMITED (w.e.f. 28.12.1994) |
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Formerly Known
As : |
ASPEE SPRINGS PRIVATE LIMITED |
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Registered
Office : |
E-3/6, Model Town, Delhi – 110009 |
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Tel. No.: |
91-22-28822331, 32, 33, 35, 36 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
07.07.1981 |
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Com. Reg. No.: |
55-011980 |
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Capital
Investment / Paid-up Capital : |
Rs.4.984 Million |
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CIN No.: [Company Identification
No.] |
U27109DL1981PLC011980 |
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IEC No.: |
0598024808 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACA6173F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of assembling, buying, selling,
reselling, exchanging manufacturing, altering, importing, exporting of all
type of automobile engineering and machinery parts, components and
accessories. (Registered Activity) |
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|
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 836000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in July 1981 and it is engaged in manufacturing
and supplying of automotive products. It is an old and established company
having satisfactory track. For the financial year ended 2015, the company possesses decent
revenue profile with increase in its total revenue by 20% which further resulted
to rise in net profit of the company. Further, the rating also considers company’s sound financial risk
profile supported by its strong networth base, low gearing and healthy debt
protection metrics. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. In view of aforesaid, 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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIL |
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Rating |
Long Term Bank Facilities: BBB |
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Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
30.07.2015 |
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Rating Agency Name |
CRISIL |
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Rating |
Short Term Bank Facilities: A3+ |
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Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
30.07.2015 |
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
31-03-2015.
LOCATIONS
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Registered Office : |
E-3/6, Model Town, Delhi – 110009, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Head Office : |
Aspee House, B.J. Patel Road, Malad (West), Mumbai - 400064, Maharashtra, India. |
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Tel. No.: |
91-22-28822331, 32, 33, 35, 36 |
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E-Mail : |
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Production Unit: |
Plot No. A-16-17, MIDC Industrial
Area, Chakan, Pune, Maharashtra, India |
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Production Unit: |
Also located at:
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Branch Offices : |
Located at:
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DIRECTORS
As on 29.09.2015
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Name : |
Mr. Mohinder Singh Matharoo |
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Designation : |
Director |
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Address : |
E - 3/6, Model Town, New Delhi - 110009, India |
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Date of Birth/Age : |
28.09.1928 |
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Date of Appointment : |
07.07.1981 |
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DIN No.: |
00920014 |
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Other Directorship:
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Name : |
Mr. Sukhjyotpreet Singh Matharoo |
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Designation : |
Director |
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Address : |
House No. 72, Sector – 8A, Chandigarh - 160009, India |
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Date of Birth/Age : |
20.04.1962 |
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Date of Appointment : |
07.07.1981 |
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DIN No.: |
01076825 |
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Other Directorship:
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Name : |
Mr. Harminder Kaur |
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Designation : |
Director |
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Address : |
E-3/6, Model Town, Delhi - 110009, India |
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Date of Birth/Age : |
03.09.1939 |
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Date of Appointment : |
07.07.1981 |
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DIN No.: |
01076858 |
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Name : |
Mr. Arvind Preet Singh Matharoo |
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Designation : |
Director |
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Address : |
House No. - 72, Sector – 8A, Chandigarh - 160009, India |
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Date of Birth/Age : |
08.10.1960 |
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Date of Appointment : |
07.07.1981 |
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DIN No.: |
01269193 |
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Other Directorship:
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Name : |
Mr. Angad Singh Matharoo |
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Designation : |
Director |
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Address : |
H No. - 72, Sector - 8 - A, Chandigarh - 160009, India |
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Date of Birth/Age : |
08.10.1988 |
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Date of Appointment : |
10.11.2008 |
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DIN No.: |
02377173 |
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Other Directorship:
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Name : |
Mr. Sultan Singh Matharoo |
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Designation : |
Director |
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Address : |
House No. 72, Sector - 8 – A, Chandigarh - 160009, Punjab, India |
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Date of Birth/Age : |
16.09.1992 |
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Date of Appointment : |
05.12.2013 |
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DIN No.: |
06718775 |
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Other Directorship:
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Name : |
Mr. Nawab Singh Matharoo |
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Designation : |
Director |
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Address : |
House No. 72, Sector 8-A, Chandigarh - 160009, India |
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Date of Birth/Age : |
04.05.1991 |
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Date of Appointment : |
05.12.2013 |
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DIN No.: |
06719245 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2015
|
Names of Shareholders |
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No. of Shares |
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M.S. Matharoo |
|
104150 |
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A.P.S. Matharoo |
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29025 |
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S.P.S. Mathraroo |
|
66920 |
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Hrminder Kaur |
|
182930 |
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Jaswinder Kaur |
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5500 |
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Sunil Narendrajog |
|
10000 |
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Harsarwar Kaur |
|
70900 |
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M.S. Matharoo (HUF) |
|
3200 |
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A.P.S. Matharoo (HUF) |
|
1200 |
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S.P.S. Mathraroo (HUF) |
|
1200 |
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Angad Singh Matharoo |
|
23200 |
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Nawab Singh Matharoo |
|
100 |
|
Sultan Singh Matharoo |
|
20 |
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Total |
|
498345 |
As on 29.09.2015
|
Category |
Percentage |
|
Directors or relatives of Directors |
97.95 |
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Other top fifty shareholders |
2.05 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of assembling, buying, selling,
reselling, exchanging manufacturing, altering, importing, exporting of all
type of automobile engineering and machinery parts, components and
accessories. (Registered Activity) |
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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
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Sunil Arora and Associates Chartered Accountants |
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Address : |
A-1/118, Safdarjung Enclave, New Delhi – 110029, India |
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Tel No.: |
91-11-26711114-17 |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAQFS6924H |
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Memberships : |
-- |
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Collaborators : |
-- |
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Sister Concern: |
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CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
498375 |
Equity Shares |
Rs.10/- each |
Rs.4.984
Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
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I.
EQUITY AND LIABILITIES |
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|
|
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(1)Shareholders' Funds |
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|
|
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(a) Share Capital |
4.984 |
4.891 |
4.890 |
|
(b) Reserves & Surplus |
287.767 |
254.691 |
241.854 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
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|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
292.751 |
259.582 |
246.744 |
|
|
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
178.445 |
171.000 |
77.814 |
|
(b) Deferred tax liabilities
(Net) |
13.959 |
-0.372 |
0.083 |
|
(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) |
192.404 |
170.628 |
77.897 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
56.267 |
92.597 |
69.733 |
|
(b) Trade payables |
71.548 |
55.524 |
50.147 |
|
(c) Other current liabilities |
18.598 |
13.605 |
15.623 |
|
(d) Short-term provisions |
2.186 |
0.172 |
0.294 |
|
Total
Current Liabilities (4) |
148.599 |
161.898 |
135.797 |
|
|
|
|
|
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TOTAL |
633.754 |
592.108 |
460.438 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
287.884 |
230.072 |
214.547 |
|
(ii) Intangible Assets |
3.221 |
0.013 |
0.018 |
|
(iii) Capital work-in-progress |
51.253 |
50.973 |
38.599 |
|
(iv) Intangible assets under
development |
0.000 |
4.004 |
0.000 |
|
(b) Non-current Investments |
31.330 |
31.132 |
31.019 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
48.727 |
77.980 |
6.330 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
422.415 |
394.174 |
290.513 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.023 |
0.702 |
0.000 |
|
(b) Inventories |
86.169 |
73.939 |
56.434 |
|
(c) Trade receivables |
94.907 |
91.000 |
91.868 |
|
(d) Cash and cash equivalents |
3.485 |
12.304 |
10.261 |
|
(e) Short-term loans and
advances |
25.769 |
19.128 |
9.339 |
|
(f) Other current assets |
0.986 |
0.861 |
2.023 |
|
Total
Current Assets |
211.339 |
197.934 |
169.925 |
|
|
|
|
|
|
TOTAL |
633.754 |
592.108 |
460.438 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
410.346 |
339.996 |
370.392 |
|
|
Other Income |
4.069 |
2.593 |
1.900 |
|
|
TOTAL
(A) |
414.415 |
342.589 |
372.292 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
218.382 |
153.439 |
180.356 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(15.295) |
(7.935) |
(4.724) |
|
|
Employees benefits expense |
68.193 |
56.535 |
58.109 |
|
|
Other Expenses |
89.200 |
78.289 |
76.236 |
|
|
Exceptional Items |
(36.579) |
0.000 |
0.000 |
|
|
TOTAL
(B) |
323.901 |
280.328 |
309.977 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
90.514 |
62.261 |
62.315 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
17.022 |
21.049 |
17.259 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
73.492 |
41.212 |
45.056 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
20.126 |
22.708 |
23.207 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
53.366 |
18.504 |
21.849 |
|
|
|
|
|
|
|
Less |
TAX (H) |
25.235 |
5.738 |
8.650 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
28.131 |
12.766 |
13.199 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
56.45 |
26.10 |
27.00 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
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 |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
6.86 |
3.75 |
3.56 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
22.06 |
18.31 |
16.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.68 |
3.66 |
5.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.07 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.80 |
1.02 |
0.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.42 |
1.22 |
1.25 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
4.890 |
4.891 |
4.984 |
|
Reserves & Surplus |
241.854 |
254.691 |
287.767 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
246.744 |
259.582 |
292.751 |
|
|
|
|
|
|
long-term borrowings |
77.814 |
171.000 |
178.445 |
|
Short term borrowings |
69.733 |
92.597 |
56.267 |
|
Total
borrowings |
147.547 |
263.597 |
234.712 |
|
Debt/Equity
ratio |
0.598 |
1.015 |
0.802 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
370.392 |
339.996 |
410.346 |
|
|
|
(8.206) |
20.691 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
370.392 |
339.996 |
410.346 |
|
Profit |
13.199 |
12.766 |
28.131 |
|
|
3.56% |
3.75% |
6.86% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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) |
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: The registered office of the company has been shifted from 511, Windsor Place Hotel Meridia, New Delhi, India to the present address w.e.f.13.07.2007
CORPORATE
INFORMATION:
The subjimited company established on 7th July, 1981 in India
under the provisions of Companies Act 1956 to carry out the business of
assembling, buying, selling, reselling, exchanging manufacturing, altering,
importing, exporting of all type of automobile engineering and machinery parts,
components and accessories. For Eg. Roller, Fulcrum Pin.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Term loan |
|
|
|
Other loans and Advances |
18.123 |
6.500 |
|
|
|
|
|
Total |
18.123 |
6.500 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10589002 |
04/09/2015 |
10,000,000.00 |
SMALL INDUSTRIES
DEVELOPMENT BANK OF INDIA |
SCO 145-146, Ist
and IInd FLOOR, SECTOR17-C, Chandigarh - 160017, INDIA |
C63121941 |
|
2 |
10552548 |
27/02/2015 |
81,000,000.00 |
SMALL INDUSTRIES
DEVELOPMENT BANK OF INDIA |
SCO 145-146, Ist
and IInd FLOOR, SECTOR17-C, Chandigarh - 160017, INDIA |
C45300787 |
|
3 |
10489155 |
16/04/2014 |
10,000,000.00 |
SMALL INDUSTRIES
AND DEVELOPMENT BANK OF INDIA |
SMALL INDUSTRIES
AND DEVELOPMENT BANK OF INDIA, SECTOR 17-C, CHANDIGARH, Chandigarh - 160017,
INDIA |
C02719409 |
|
4 |
10467552 |
24/12/2013 |
70,000,000.00 |
SMALL INDUSTRIES
DEVELOPMENT BANK OF INDIA |
SCO 145-146,
FIRST AND SECOND FLOOR, SECTOR 17-C, |
B92509223 |
|
5 |
10343839 |
20/03/2012 |
75,000,000.00 |
SMALL INDUSTRIES
DEVELOPMENT BANK OF INDIA |
SCO 146-147, FIRST
AND SECOND FLOOR, SECTOR 17-C, |
B35681311 |
|
6 |
10344050 |
20/03/2012 |
20,000,000.00 |
SMALL INDUSTRIES
DEVELOPMENT BANK OF INDIA |
SCO 146-147,
FIRST AND SECOND FLOOR, SECTOR 17-C, |
B35759067 |
|
7 |
10277951 |
05/10/2015 * |
50,000,000.00 |
State Bank of
India |
SME - Branch,
SCO 43-48,SECTOR-17, Chandigarh - 160017, INDIA |
C68808294 |
|
8 |
10308192 |
24/12/2010 |
22,500,000.00 |
STATE BANK OF
INDIA |
SPECIALISED COMMERCIAL
BRANCH, SCO 103-106,SECTOR |
B10548287 |
|
9 |
10308193 |
24/12/2010 |
41,400,000.00 |
STATE BANK OF
INDIA |
SPECIALISED
COMMERCIAL BRANCH, SCO 103-106, SECTO |
B11696887 |
|
10 |
10226928 |
01/07/2010 |
20,000,000.00 |
SMALL INDUSTRIES
DEVELOPMENT BANK OF INDIA |
SCO 145-146, Ist
and IInd FLOOR, SECTOR17-C, Chandigarh - 160017, INDIA |
A88699087 |
FIXED ASSETS
- Land
- Building
- Plant and Machinery
- Tools and Equipments
- Office Equipment
- Electrical Goods
- Computer
- Motor Vehicle
- Furniture and Fixture
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 records exist to suggest that subject is or
was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.79 |
|
|
1 |
Rs.100.49 |
|
Euro |
1 |
Rs.72.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--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 |
|
49 |
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.