MIRA INFORM REPORT
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Report No. : |
354212 |
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Report Date : |
21.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
BHAGWATI STEELS CAST PRIVATE LIMITED (w.e.f. 02.05.2012) |
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Formerly Known
As : |
BHAGWATI STEEL CAST LIMITED BHAGWATI STEELS ROLLING MILLS LIMITED |
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Registered
Office : |
Unit No 601-A,6th Floor, Western Edge-I, Kanakia Spaces, Dattapad
Road, off Western Express Highway, Borivili (East), Mumbai-400066,
Maharashtra |
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Tel. No.: |
91-22-40354444 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
16.04.1984 |
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Com. Reg. No.: |
11-170753 |
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Capital
Investment / Paid-up Capital : |
Rs.49.900 Million |
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CIN No.: [Company Identification
No.] |
U27101MH1984PTC170753 |
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IEC No.: |
0301013101 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACB8416C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in the manufacturer of TMT Bars. (From Indirect
source) |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 670000 |
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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 is an established company incorporated in the year 1984. It
has satisfactory track. As per the Registrar of Companies the date of balance sheet (i.e. financial
filed) is shown as 31.03.2015 but the documents related to the financials are
not available from any sources. For the financial year ended 2014, the company has shown downtrend in
its sales turnover and profit earnings. However, it has maintain its
operational activity. The company has efficient financial base backed by adequate net worth
position along with favourable gap between trade payables and receivables. Trade relations are fair. Business is active. Payment are usually
correct. In view of extensive experience of its promoters, the company can be
considered for business 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 |
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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
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term = BBB- |
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Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
August 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
August 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.
INFORMATION DENIED BY
|
Name : |
Ms. Namrata |
|
Designation : |
Purchase Department |
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Contact No.: |
91-22-40354444 |
|
Date : |
11.12.2015 |
LOCATIONS
|
Registered Office / Head Office : |
Unit No 601-A,6th Floor, Western Edge-I, Kanakia Spaces, Dattapad
Road, off Western Express Highway, Borivili (East), Mumbai-400066,
Maharashtra |
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Tel. No.: |
91-22-40354444 |
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Fax No.: |
91-22-40354432 |
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E-Mail : |
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Factory 1 : |
D-101, MIDC, Malegaon, Sinnar, Nashik, Maharashtra, India |
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Factory 2 : |
Plot No. 144/1/2/1/1, Athal Industrial Eastate, Luhari Road, Athal,
Silvasa-396230, Dadra and Nagar Haveli, Gujarat, India |
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Factory 3 : |
G-7/G8, MIDC, Malegaon, Sinnar, Nashik, Maharashtra, India |
DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Amit Burakia |
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Designation : |
Whole-time Director |
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Address : |
1203/1204, Gardenia, B Wing, Vasant Valley, Malad (East), Mumbai – 400097, Maharashtra, India |
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Date of Birth/Age : |
15.08.1976 |
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Date of Appointment : |
01.06.2015 |
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DIN No.: |
00061620 |
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PAN No.: |
ABUPA6908N |
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Other Directorship:
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Name : |
Mr. Mahendra Kumar Agarwal |
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Designation : |
Managing Director |
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Address : |
1203/1204, Gardenia, B Wing, Vasant Valley, Malad (East), Mumbai – 400097, Maharashtra, India |
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Date of Birth/Age : |
05.08.1954 |
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Date of Appointment : |
01.06.2015 |
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DIN No.: |
00061653 |
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PAN No.: |
ABTPA8760H |
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Other Directorship:
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Name : |
Mrs. Bimala Devi Agarwal |
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Designation : |
Director |
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Address : |
1203/1204, Gardenia, B Wing, Vasant Valley, Malad (East), Mumbai – 400097, Maharashtra, India |
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Date of Birth/Age : |
31.08.1953 |
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Date of Appointment : |
13.03.1995 |
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DIN No.: |
01301141 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Ms. Namrata |
|
Designation : |
Purchase Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2015
|
Names of Shareholders |
|
No. of Shares |
|
Mahendra Kumar Agarwal |
|
672950 |
|
Bimala Devi Agarwal |
|
218350 |
|
Amit Burakia |
|
676000 |
|
Krishna Singhania |
|
14000 |
|
Manisha Sharma |
|
20900 |
|
Mukesh Singhania |
|
21000 |
|
Amberin Trades Private Limited |
|
474000 |
|
Burakia Trades Private Limited |
|
474000 |
|
Yuvaan Infrastructure Private Limited |
|
1137500 |
|
Mahendra and Company (Assam) Private Limited |
|
478000 |
|
Abhishek Investment (India) Private Limited |
|
255000 |
|
Smith Builders Private Limited |
|
175000 |
|
Prag Innovation Private Limited |
|
179750 |
|
Shruti Finance Service Private Limited |
|
80000 |
|
Mahendra Kumar Agarwal and Sons – HUF |
|
106550 |
|
M Sons HUF |
|
7000 |
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Total |
|
4990000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2014
|
Category |
Percentage |
|
Bodies corporate |
65.20 |
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Directors or relatives of Directors |
31.40 |
|
Other top fifty shareholders |
3.40 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacturer of TMT Bars. (From Indirect
source) |
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Products : |
Not Divulged |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
K. M. Gara and Company Chartered Accountant |
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Address : |
603-604, Unique Tower, Off S V Road, Goregaon (West), Mumbai - 400062, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAEFK4654J |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates : |
Bhagwati Ferro Metal Private Limited, India U27100MH2003PTC140750 |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5500000 |
Equity Shares |
Rs.10/- each |
Rs.55.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
4990000 |
Equity Shares |
Rs.10/- each |
Rs.49.900
Million |
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FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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|
|
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I.
EQUITY AND LIABILITIES |
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|
|
|
(1)Shareholders' Funds |
|
|
|
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(a) Share Capital |
49.900 |
45.075 |
33.695 |
|
(b) Reserves & Surplus |
184.084 |
167.697 |
112.206 |
|
(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) |
233.984 |
212.772 |
145.901 |
|
|
|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
190.269 |
39.050 |
46.252 |
|
(b) Deferred tax liabilities
(Net) |
5.261 |
1.173 |
2.571 |
|
(c) Other long term
liabilities |
0.000 |
63.150 |
130.046 |
|
(d) long-term provisions |
4.581 |
3.976 |
2.168 |
|
Total
Non-current Liabilities (3) |
200.111 |
107.349 |
181.037 |
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
185.748 |
194.191 |
149.657 |
|
(b) Trade payables |
53.028 |
0.000 |
0.000 |
|
(c) Other current liabilities |
132.303 |
55.038 |
87.858 |
|
(d) Short-term provisions |
1.165 |
12.054 |
12.214 |
|
Total
Current Liabilities (4) |
372.244 |
261.283 |
249.729 |
|
|
|
|
|
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TOTAL |
806.339 |
581.404 |
576.667 |
|
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|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
274.564 |
40.879 |
47.481 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
9.184 |
1.751 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.137 |
1.620 |
2.112 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8.372 |
6.119 |
5.824 |
|
(e) Other Non-current assets |
0.000 |
20.340 |
17.214 |
|
Total
Non-Current Assets |
293.257 |
70.709 |
72.631 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
230.406 |
258.937 |
240.143 |
|
(c) Trade receivables |
177.259 |
230.819 |
217.379 |
|
(d) Cash and cash equivalents |
5.835 |
19.310 |
40.121 |
|
(e) Short-term loans and
advances |
70.640 |
1.629 |
6.393 |
|
(f) Other current assets |
28.942 |
0.000 |
0.000 |
|
Total
Current Assets |
513.082 |
510.695 |
504.036 |
|
|
|
|
|
|
TOTAL |
806.339 |
581.404 |
576.667 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Revenue from Operations |
95.500 |
99.500 |
86.196 |
|
|
Other Income |
2.800 |
4.100 |
8.236 |
|
|
TOTAL
(A) |
98.300 |
103.600 |
94.432 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Administrative Expenses |
6.100 |
7.700 |
7.096 |
|
|
Selling Expenses |
28.000 |
32.500 |
17.304 |
|
|
TOTAL
(B) |
34.100 |
40.200 |
24.400 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
64.200 |
63.400 |
70.032 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
34.200 |
23.500 |
30.151 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
30.000 |
39.900 |
39.881 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
24.000 |
7.900 |
9.459 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
6.000 |
32.000 |
30.422 |
|
|
|
|
|
|
|
Less |
TAX (H) |
4.100 |
10.600 |
8.689 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
1.900 |
21.400 |
21.733 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
NA |
NA |
64.946 |
|
|
|
|
|
|
|
Less |
Earlier
year excess proposed dividend and dividend distribution tax |
NA |
NA |
3.127 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
1.900 |
21.400 |
83.552 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.4 |
5.99 |
7.08 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
31.509 |
0.000 |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
89.334 |
(74.605) |
(67.436) |
|
Net cash flow from operating activity |
84.194 |
(74.605) |
(11.352) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.99 |
21.51 |
25.21 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
67.23 |
63.72 |
81.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.75 |
5.54 |
5.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.15 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.74 |
1.10 |
1.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38 |
1.95 |
2.02 |
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 |
33.695 |
45.075 |
49.900 |
|
Reserves & Surplus |
112.206 |
167.697 |
184.084 |
|
Net
worth |
145.901 |
212.772 |
233.984 |
|
|
|
|
|
|
long-term borrowings |
46.252 |
39.050 |
190.269 |
|
Short term borrowings |
149.657 |
194.191 |
185.748 |
|
Total
borrowings |
195.909 |
233.241 |
376.017 |
|
Debt/Equity
ratio |
1.343 |
1.096 |
1.607 |
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 |
86.196 |
99.500 |
95.500 |
|
|
|
15.435 |
(4.020) |
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 |
86.196 |
99.500 |
95.500 |
|
Profit |
21.733 |
21.400 |
1.900 |
|
|
25.21% |
21.51% |
1.99% |
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) |
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 |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from 121, Udyog Bhawan, Sonawala Lane, Goregaon (East), Mumbai – 400063, Maharashtra, India to the present address w.e.f. 06.10.2011
LITIGATION DETAILS
|
LITIGATION DETAILS |
||||||||
|
Bench:- Bombay |
||||||||
|
Lodging No:- |
ITXAL/870/2011 |
Failing Date:- |
22.06.2011 |
Reg. No.:- |
ITXA/2099/2011 |
Reg. Date:- |
14.09.2011 |
|
|
|
||||||||
|
Petitioner:- |
THE COMMISSIONER OF INCOME TAX-9 |
Respondent:- |
M/S BHAGWATI STEEL CAST PRIVATE LIMITED |
|||||
|
Petn.Adv:- |
VIMAL GUPTA (O) |
Resp.Adv.: |
PDS LEGAL (O) |
|||||
|
District:- |
MUMBAI |
|||||||
|
Bench:- |
DIVISION |
Category: |
TAX APPEALS |
|||||
|
Status:- |
Admitted (Unready) |
Stage:- |
FOR ADMISSION |
|||||
|
Last Date:- |
07.04.2014 |
|||||||
|
Last Coram:- |
HON’BLE SHRI JUSTICE S.C. DHARMADHIKARI HON’BLE SHRI JUSTICE G.S. KULKARNI |
|||||||
|
Act:- |
Income Tax Act, 1961 |
Under Section :- |
260A |
|||||
2. COMPANY'S
PERFORMANCE
A. CAPEX PROGRAMME
FOR MODERNISATION AND EXPANSION:
The directors are pleased to inform you that during the year under report, the company embarked upon a modernisation cum expansion programme on existing plots of land of MIDC, Sinnar, which is under implementation and likely to be fully commissioned by September 2014 barring unforeseen circumstances.
With this Updation of latest technology and installation of 12 MT Furnaces, Continuous Concast Mill, and modernization of Rolling mill, the installed capacity of Furnaces shall increase from 50000 MTPA to 100000 MTPA of Billets while the production of TMT Bars shall increase from 66000 MTPA to 108000 MTPA.
B: INCOME
During FY 2013-14, Revenue from Operation amounted to Rs. 2074.600 Million in about 7 months working due to plant downtime in view of ongoing modernisation cum expansion project. However, the plant is likely to work at optimum capacity during current year.
C: PROFIT
The Profit before Tax (PBT) for the year was down at Rs 6.000 Million as compared to Rs 32.000 Million in FY 2012-13 due to plant shutdown as mentioned earlier. After providing for taxation, Profit after Tax (PAT) during the year stood at Rs. 1.900 Million as against Rs. 21.400 Million during the FY 2012-13
D: OPERATIONS:
The Directors report that the operations have overall been satisfactory considering the plant shutdown during the year, and are hopeful for the better working results in the next year.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Deferred sales tax loan |
7.541 |
39.050 |
|
Total |
7.541 |
39.050 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90265172 |
07/05/2004 * |
84,000,000.00 |
STATE BANK OF INDIA |
INDL FINANCE BRANCH, ANDHERI (E), MUMBAI, Maharashtra - 400069, INDIA |
- |
|
2 |
90265959 |
16/02/2004 * |
84,000,000.00 |
STATE BANK OF INDIA |
INDL FINANCE BRANCH, ANDHERI (E), MUMBAI, Maharashtra - 400069, INDIA |
- |
|
3 |
90265850 |
31/10/2015 * |
629,800,000.00 |
State Bank of India |
IFB, Natraj Building, 102, 1st Floor, 194,, Sir M |
C69780096 |
|
4 |
90265154 |
28/04/2003 * |
38,500,000.00 |
STATE BANK OF INDIA |
INDL FINANCE BRANCH, ANDHERI (E), MUMBAI, Maharashtra - 400069, INDIA |
- |
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
Other money for which company is contingently liable |
61.883 |
57.283 |
FIXED ASSETS
- Land
- Buildings
- Factory building
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Motor 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 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.66.42 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.72.13 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
SUJ |
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 |
YES |
|
--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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.