MIRA INFORM REPORT
|
Report No. : |
356001 |
|
Report Date : |
22.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
SUCHI FASTENERS PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
NADKARNI METASINT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-60/220 Azad Nagar, Veera Desai Road, Andheri (West), Mumbai-400053,
Maharashtra |
|
Tel. No.: |
91-265-3295974 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
02.08.1971 |
|
|
|
|
Com. Reg. No.: |
11-015262 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 41.453 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34300MH1971PTC015262 |
|
|
|
|
IEC No.: |
0888000171 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN1250C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Aluminium Brass, Copper, Silicon Bronze
and Stainless Steel Washers. (Confirmed by management) |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
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 |
|
|
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track. For the financial year ended 2015, the company has improved its
operational activity marked top line growth of 6.6% and earned decent profit
in comparison with previous year losses. The company has comfortable capital structure along with low debt
levels. However, it has unfavorable gap between trade payables and
receivables. Trade relations are fair. Business is active. Payments are 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Ritesh Dhobi |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-265-3295974 |
|
Date : |
19.12.2015 |
LOCATIONS
|
Registered Office : |
A-60/220, Azad Nagar, Veera Desai Road, Andheri (West), Mumbai
– 400053, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9377552020 (Mr. Chirag) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
74/104 Gayathri Apartment Opposite M. K. High School, Alkapuri,
Vadodara-390005, Gujarat, India |
|
Tel. No.: |
91-265-3295974 |
|
|
|
|
Factory : |
K-1, 16/17, GIDC Estate, Dabhol – 391170, Gujarat, India |
|
Tel. No.: |
91-2663-325353 / 329933 |
|
Fax No.: |
91-2663-254444 |
|
E-Mail : |
DIRECTORS
As on 31.03.2015
|
Name : |
Mr. Surendra Chandulal Shah |
|
Designation : |
Managing Director |
|
Address : |
A 601- 602, Spring Exotica, Near Navrachna University, Bhayli Road,
Vadodara – 390009, Gujarat, India |
|
Date of Birth/Age : |
01.09.1936 |
|
Date of Appointment : |
26.04.1979 |
|
DIN No.: |
00906348 |
|
|
|
|
Name : |
Mr. Sanjay Kanaiyalal Tejura |
|
Designation : |
Whole-time Director |
|
Address : |
A. G. Society, Plot No.9, Vrindavan, Kalawad Road, Rajkot-360005, Gujarat, India |
|
Date of Appointment : |
09.08.2015 |
|
DIN No.: |
07259394 |
|
|
|
|
Name : |
Mr. Chirag Surendra Shah |
|
Designation : |
Director |
|
Address : |
A 601- 602, Spring Exotica, Near Navrachna University, Bhayli Road,
Vadodara – 390009, Gujarat, India |
|
Date of Birth/Age : |
26.12.1971 |
|
Date of Appointment : |
15.02.2005 |
|
DIN No.: |
00114969 |
|
|
|
|
Name : |
Mr. Gurusharan Jethalal Brahmbhatt |
|
Designation : |
Director |
|
Address : |
A-1, Dayal Park B/4, Utkarsh Vidhyalaya Race Course, Gadapura,
Vadodara – 390015, Gujarat, India |
|
Date of Birth/Age : |
08.04.1951 |
|
Date of Appointment : |
15.02.2005 |
|
DIN No.: |
00114911 |
|
|
|
|
Name : |
Mr. Maulik Chandraketu Mehta |
|
Designation : |
Director |
|
Address : |
604, Indraprastha, Opposite Ellorapark Market, Ellora Park, Vadodara –
390007, Gujarat, India |
|
Date of Birth/Age : |
04.07.1965 |
|
Date of Appointment : |
27.11.2010 |
|
DIN No.: |
00010848 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2015
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 25.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
0.70 |
|
Directors or relatives of Directors |
49.60 |
|
Other top fifty shareholders |
49.70 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Aluminium Brass, Copper, Silicon Bronze
and Stainless Steel Washers. (Confirmed by management) |
|
|
|
|
Products : |
|
|
|
|
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Brand Names : |
Not Available |
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|
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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|
Terms : |
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|
Selling : |
L/C, Cheque, Credit (30/60 Days) |
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|
|
|
Purchasing : |
L/C, Cheque, Credit (30/60 Days) |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
300 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Amin Parikh and Company Chartered Accountants |
|
Address : |
205-206, Ujjawal Complex, Near Akota Stadium, Opposite Shrenik Park,
Vadodara- 390020, Gujarat, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AADFA8543R |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 26.09.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 40.000 Million |
|
100,000 |
Preference Shares |
Rs.100/- each |
Rs. 10.000 Million |
|
|
Total |
|
Rs. 50.000
Million |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,443,300 |
Equity Shares |
Rs.10/- each |
Rs. 34.433
Million |
|
99,856 |
Preference Shares |
Rs.100/- each |
Rs. 9.986
Million |
|
|
Total |
|
Rs. 44.419 Million |
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,443,300 |
Equity Shares |
Rs.10/- each |
Rs. 34.433
Million |
|
70,204 |
Preference Shares |
Rs.100/- each |
Rs. 7.020
Million |
|
|
Total |
|
Rs. 41.463 Million |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
41.453 |
34.433 |
24.833 |
|
(b) Reserves & Surplus |
3.153 |
0.206 |
-8.762 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.325 |
5.325 |
|
Total
Shareholders’ Funds (1) + (2) |
44.606 |
34.964 |
21.396 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2.617 |
11.651 |
15.092 |
|
(b) Deferred tax liabilities (Net) |
1.206 |
1.814 |
1.038 |
|
(c) Other long term
liabilities |
1.145 |
9.394 |
5.631 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
4.968 |
22.859 |
21.761 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
66.417 |
79.656 |
68.067 |
|
(b) Trade
payables |
97.026 |
57.572 |
79.397 |
|
(c) Other
current liabilities |
4.409 |
19.394 |
25.221 |
|
(d) Short-term
provisions |
4.640 |
4.708 |
4.176 |
|
Total Current
Liabilities (4) |
172.492 |
161.330 |
176.861 |
|
|
|
|
|
|
TOTAL |
222.066 |
219.153 |
220.018 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
61.409 |
62.064 |
59.416 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.933 |
0.933 |
1.207 |
|
(e) Other
Non-current assets |
8.251 |
8.251 |
4.010 |
|
Total Non-Current
Assets |
70.593 |
71.248 |
64.633 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
106.121 |
114.025 |
116.290 |
|
(c) Trade
receivables |
34.979 |
21.345 |
25.374 |
|
(d) Cash
and cash equivalents |
7.246 |
7.511 |
8.136 |
|
(e) Short-term
loans and advances |
3.028 |
4.705 |
5.209 |
|
(f) Other
current assets |
0.099 |
0.319 |
0.376 |
|
Total
Current Assets |
151.473 |
147.905 |
155.385 |
|
|
|
|
|
|
TOTAL |
222.066 |
219.153 |
220.018 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
465.771 |
436.530 |
433.261 |
|
|
|
Other Income |
0.321 |
0.618 |
(1.765) |
|
|
|
TOTAL (A) |
466.092 |
437.148 |
431.496 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
347.450 |
343.733 |
354.870 |
|
|
|
Purchases of Stock-in-Trade |
2.128 |
1.629 |
0.345 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
11.234 |
(0.095) |
(4.179) |
|
|
|
Employees benefits expense |
29.013 |
24.770 |
24.909 |
|
|
|
Other expenses |
52.952 |
47.386 |
46.491 |
|
|
|
TOTAL (B) |
442.777 |
417.423 |
422.436 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
23.315 |
19.725 |
9.060 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
16.880 |
18.183 |
19.985 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
6.435 |
1.542 |
(10.925) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
3.455 |
6.198 |
6.582 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
2.980 |
(4.656) |
(17.507) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.033 |
0.776 |
0.238 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
2.947 |
(5.432) |
(17.745) |
|
|
|
|
|
|
|
|
|
|
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
(23.843) |
(18.411) |
(0.666) |
|
|
|
|
|
|
|
|
|
|
Balance Carried to the B/S |
(20.896) |
(23.843) |
(18.411) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
333.178 |
308.392 |
300.905 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (Rs.) |
0.86 |
(1.58) |
(7.15) |
|
Expected Sales (2015-2016) : Rs.450.000 Million (Due to market fluctuation)
The above information has been parted by Mr. Ritesh Dhobi (Accounts
Manager)
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
0.536 |
3.883 |
18.323 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operation |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.63 |
(1.24) |
(4.10) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
5.01 |
4.52 |
2.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.34 |
(2.12) |
(7.96) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
(0.13) |
(0.82) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.56 |
2.72 |
4.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.88 |
0.92 |
0.88 |
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 |
24.833 |
34.433 |
41.453 |
|
Reserves & Surplus |
(8.762) |
0.206 |
3.153 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
5.325 |
0.325 |
0.000 |
|
Net
worth |
21.396 |
34.964 |
44.606 |
|
|
|
|
|
|
long-term borrowings |
15.092 |
11.651 |
2.617 |
|
Short term borrowings |
68.067 |
79.656 |
66.417 |
|
Current maturities of
long-term debts |
18.323 |
3.883 |
0.536 |
|
Total
borrowings |
101.482 |
95.190 |
69.570 |
|
Debt/Equity
ratio |
4.743 |
2.723 |
1.560 |
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 |
433.261 |
436.530 |
465.771 |
|
|
|
0.755 |
6.699 |
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 |
433.261 |
436.530 |
465.771 |
|
Profit /(Loss) |
(17.745) |
(5.432) |
2.947 |
|
|
(4.10%) |
(1.24%) |
0.63% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of establishment |
Yes |
|
2] |
Constitution of the entity Incorporation
details |
Yes |
|
3] |
Locality of the entity |
Yes |
|
4] |
Premises details |
No |
|
5] |
Buyer visit details |
-- |
|
6] |
Contact numbers |
Yes |
|
7] |
Name of the person contacted |
Yes |
|
8] |
Designation of contact person |
Yes |
|
9] |
Promoter’s background |
Yes |
|
10] |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11] |
Pan Card No. of Proprietor / Partners |
No |
|
12] |
Voter Id Card No. of Proprietor / Partners |
No |
|
13] |
Type of business |
Yes |
|
14] |
Line of Business |
Yes |
|
15] |
Export/import details (if applicable) |
Yes |
|
16] |
No. of employees |
Yes |
|
17] |
Details of sister concerns |
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% |
Yes |
|
28] |
Estimation for coming financial year |
Yes |
|
29] |
Profitability for last three years |
Yes |
|
30] |
Major shareholders, if available |
Yes |
|
31] |
External Agency Rating, if available |
No |
|
32] |
Litigations that the firm/promoter
involved in |
-- |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
Yes |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS
The company has made a net profit of Rs.2.947 after providing for
depreciation of Rs.3.455 Million and tax adjustment of Rs. 0.041 Million.
Various cost of reduction measures have been initiated coupled with increased
capacity utilization expected to improve substantial profitability of the
company.
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10312299 |
23/09/2011 |
187,700,000.00 |
State Bank of India |
Specialized Commercial Branch,, 2nd Floor Trident Complex, Near
Race Course Circle, Vadodara, Gujarat - 390007, INDIA |
B23291180 |
|
2 |
10135982 |
02/03/2012 * |
192,700,000.00 |
State Bank of India |
Specialized Commercial Branch,, 2nd Floor Trident Complex, Near
Race Course Circle, Vadodara, Gujarat - 390007, INDIA |
B35127455 |
|
3 |
10480384 |
04/06/2008 |
25,000,000.00 |
STATE BANK OF INDIA |
Specialised Commercial Branch,, 2nd Floor Trident Complex, Nr
Race Course Circle,, Vadodara, Gujarat - 390007, INDIA |
B83608372 |
|
4 |
10065702 |
27/08/2007 |
156,500,000.00 |
STATE BANK OF INDIA |
SPECIALISED COMMERCIAL BRANCH, 2ND FLOOR, TRIDENT COMPLEX, NEAR RACE
COURSE CIRCLE, VADODARA, Gujarat - 390007, INDIA |
A22210496 |
|
5 |
10065701 |
06/03/2012 * |
215,200,000.00 |
State Bank of India |
Specialized Commercial Branch,, 2nd Floor Trident |
B35126697 |
|
6 |
90187059 |
25/04/2007 * |
99,000,000.00 |
STATE BANK OF INDIA |
SPECIALISED COMMERCIAL BRANCH, 2ND FLOOR, TRIDENT COMPLEX, NEAR RACE
COURSE CIRCLE,, VADODARA, Gujarat - 390007, INDIA |
- |
|
7 |
90188937 |
30/04/2007 * |
99,000,000.00 |
STATE BANK OF INDIA |
ISPECIALISED COMMERCIAL BRANCH, 2ND FLOOR, TRIDENT COMPLEX, NEAR RACE
COURSE CIRCLE, VADODARA, Gujarat - 390007, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Factory Shed
- Office
Premises
- Land
- Factory
Building
- Furniture and
Fixtures
- Electrical
Installation
- Vehicles
- Office
Equipments
- Computer
- Borewell
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 : |
SVA |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.