MIRA INFORM REPORT
|
Report No. : |
357344 |
|
Report Date : |
30.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
SOFTCELL TECHNOLOGIES LIMITED (w.e.f. 08.01.2001) |
|
|
|
|
Formerly Known
As : |
SOFTCELL TRADE AND
TECHNOLOGIES LIMITED |
|
|
|
|
Registered
Office : |
303-304, 3rd
Floor, Kohinoor City, Commercial Complex, I. B. Wing, Kirol Road, Off L.B.S.
Marg, Kurla (West), Mumbai - 400070, Maharashtra |
|
Tel. No.: |
91-22-66006700 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
10.04.1995 |
|
|
|
|
Com. Reg. No.: |
11-087330 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.41.641 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74210MH1995PLC087330 |
|
|
|
|
IEC No.: |
0399010505 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS37242C |
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|
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PAN No.: [Permanent Account No.] |
AADCS0965J |
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|
|
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
The subject is engaged in business segments namely, Software and hardware products' and Web hosting services. [Registered Activity] |
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|
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No. of Employees
: |
Information declined by the management
|
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 |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject wad Subject was established in the year 1995 and it is engaged in providing business-to-business information technology infrastructure services. It provides end-to-end information technology infrastructure services which includes software licensing, hardware, security, storage, and networking. The company also provides field support services, engineering services, testing, application life cycle management and internet hosting services. For the financial year ended 2015, the company has achieved a growth of 19.84% in its revenue but reported losses from its operations during the year under review. However, ratings continue to derive comfort from company’s satisfactory financial profile supported by its adequate net worth base along with low borrowings and sound debt coverage indicators. Rating also takes into consideration company’s established track record of business operations and promoter’s extensive industry experience in information technology sector. Trade relations are reported as fair. Payment terms are reported to be slow but correct. In view of aforesaid, the company can be considered for business dealings at usual trade terms and condition. |
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.
NFORMATION DENIED
MANAGEMENT NON CO-OPERATIVE [Tel No.:91-22-2460969]
LOCATIONS
|
Registered Office : |
303-304, 3rd
Floor, Kohinoor City, Commercial Complex, I. B. Wing, Kirol Road, Off L.B.S.
Marg, Kurla (West), Mumbai - 400070, Maharashtra, India |
|
Tel. No.: |
91-22-66006700 / 24606969 |
|
Fax No.: |
91-22-66006701 |
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E-Mail : |
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|
Website : |
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Corporate Office : |
504, Mayfair Towers, 28,
Mumbai-Pune Road, Wakdewadi, Pune -
411005 |
|
Tel. No.: |
91-20-6600-6700 |
|
Fax No.: |
91-20-6600-6701 |
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|
|
|
Branch Office : |
Located at · Chennai · Bangalore · Hyderabad · Pune · Ahmedabad · New Delhi |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Sunil Pandurang Dalal |
|
Designation : |
Chairman, Managing Director |
|
Address : |
Flat No1, Sharad Vaibhav Appt, Gokhale Cross Road, Model Colony, Pune
– 411016, Maharashtra, India |
|
Date of Birth/Age : |
24.05.1963 |
|
Qualification : |
MMS Finance |
|
Date of Appointment : |
10.04.1995 |
|
PAN No.: |
ADWPD4013B |
|
DIN No.: |
00232753 |
|
|
|
|
Name : |
Mr. Harish Chandrashekar Aiyer |
|
Designation : |
Whole Time Director |
|
Address : |
303, Ratnasagar, Sector 29, Vashi, Navi Mumbai-400703, Maharashtra,
India |
|
Date of Birth/Age : |
06.11.1962 |
|
Qualification : |
MBA Marketing and Systems |
|
Date of Appointment : |
10.04.1995 |
|
PAN No.: |
AABES1218C |
|
DIN No.: |
00233168 |
|
|
|
|
Name : |
Mr. Dasharathi Heramagalur Venkatesh |
|
Designation : |
Whole Time Director |
|
Address : |
A5, Paradise Towers, 2/1, Baner Road Baner, Pune - 400059, Maharashtra, India |
|
Date of Birth/Age : |
08.07.1963 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
10.04.1995 |
|
PAN No.: |
ACJPV1698L |
|
DIN No.: |
02391495 |
|
|
|
|
Name : |
Satrajit Sivaprasad Bhattacharya |
|
Designation : |
Nominee Director |
|
Address : |
104, Hdfc House, Dr. R K Shriodkar Road, Parel, Mumbai - 400012, Maharashtra, India |
|
Date of Birth/Age : |
13.05.69 |
|
Date of Appointment : |
21.05.2014 |
|
DIN No.: |
01313351 |
|
|
|
|
Name : |
Anupam Dattatraya Saraph |
|
Designation : |
Director |
|
Address : |
303, C, Concord Proxima,, Opposite Hotel Malvani Gajali Baner, Pune - 411045, Maharashtra, India |
|
Date of Appointment : |
24.06.2015 |
|
DIN No.: |
07208091 |
|
|
|
|
Name : |
Dhananjay Nilkanth Date |
|
Designation : |
Director |
|
Address : |
Plot No. 3, Rakshak Society, Pune - 411027, Maharashtra, India |
|
Date of Appointment : |
27.03.2015 |
|
DIN No.: |
01030900 |
MAJOR SHAREHOLDERS
AS ON 31.03.2015
|
Names of Shareholders |
No. of Shares |
|
Sunil Pandurang Dalal |
1491004 |
|
Sharayu Pandurang Dalal |
400 |
|
Ujwal Narayan Andhari |
217990 |
|
Sanjoy T. Roy |
85152 |
|
Dasharathi Heramagalur Venkatesh |
565000 |
|
Harish Chandrashekar Aiyer |
80814 |
|
Debashish Sateyndra Basu |
10400 |
|
Praveen Suryakant Sawant |
80814 |
|
Jayant Kadambi |
62500 |
|
L. R. Narayan |
40000 |
|
Sunil P Dalal Raghunath P Gawde Softcell Employee Trust |
414500 |
|
HDFC Bank Limited, India |
499702 |
|
Housing Development Finance Corporation Limited, India |
499702 |
|
Deepak Parekh Vinod Yennemadi S. S Thakar HDFC Welfare Employee Trust |
83285 |
|
Mukesh Babu Financial Services Ltd |
5000 |
|
Hansa Parimal Parekh |
3200 |
|
Balance Equity Broking India Private Limited, India |
9800 |
|
Raghunath Pandurang Gawde |
4925 |
|
Premananth Pitchamuthu |
2250 |
|
Sai Gopal Pullabhatla |
2000 |
|
Veeraragvan
Gopalan |
1500 |
|
Rajaraman
Parasuraman |
1000 |
|
Gandhali Neeraj
More |
500 |
|
Shrinivas Ramkrishna Patankar |
2250 |
|
Sameer
Pan adare |
500 |
|
Total |
4164188 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
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 |
1.50 |
|
Bodies corporate |
12.36 |
|
Directors or relatives of Directors |
51.57 |
|
Other top fifty shareholders |
22.57 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The subject is engaged in business segments namely, Software and hardware products' and Web hosting services. [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 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 : |
(Rs.
In Million)
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Auditors : |
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|
Name : |
B S R and Associates LLP Chartered Accountants |
|
Address : |
703, 7th Floor, Godrej Castlemaine, Next to Ruby Hall Clinic, Bund Garden Road, Pune – 411001, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AADFB6889R |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary Company: |
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Others: |
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CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4164188 |
Equity Shares |
Rs.10/- each |
Rs.41.641
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 |
41.641 |
41.641 |
41.641 |
|
(b) Reserves &
Surplus |
490.876 |
509.946 |
588.965 |
|
(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) |
532.517 |
551.587 |
630.606 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
4.372 |
5.197 |
|
(c) Other long term
liabilities |
27.500 |
27.500 |
50.000 |
|
(d) long-term provisions |
9.300 |
14.836 |
15.522 |
|
Total Non-current
Liabilities (3) |
36.800 |
46.708 |
70.719 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
13.956 |
38.666 |
30.107 |
|
(b) Trade payables |
283.392 |
187.880 |
221.598 |
|
(c) Other current
liabilities |
19.840 |
17.968 |
26.010 |
|
(d) Short-term provisions |
5.438 |
0.714 |
24.963 |
|
Total Current Liabilities
(4) |
322.626 |
245.228 |
302.678 |
|
|
|
|
|
|
TOTAL |
891.943 |
843.523 |
1004.003 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
43.122 |
70.560 |
90.024 |
|
(ii) Intangible Assets |
9.136 |
11.380 |
12.451 |
|
(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 |
0.126 |
0.126 |
0.032 |
|
(c) Deferred tax assets
(net) |
4.259 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
445.298 |
448.202 |
518.957 |
|
(e) Other Non-current
assets |
0.321 |
0.099 |
0.929 |
|
Total Non-Current Assets |
502.262 |
530.367 |
622.393 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
2.971 |
|
(b) Inventories |
7.633 |
5.914 |
8.530 |
|
(c) Trade receivables |
333.431 |
270.832 |
283.038 |
|
(d) Cash and cash
equivalents |
23.604 |
7.934 |
41.159 |
|
(e) Short-term loans and
advances |
25.013 |
28.476 |
45.912 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
389.681 |
313.156 |
381.610 |
|
|
|
|
|
|
TOTAL |
891.943 |
843.523 |
1004.003 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
1559.057 |
1289.967 |
1431.299 |
|
|
Other Income |
18.320 |
23.105 |
24.896 |
|
|
TOTAL (A) |
1577.377 |
1313.072 |
1456.195 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
0.000 |
0.000 |
1118.550 |
|
|
Purchases of
Stock-in-Trade |
1257.796 |
997.533 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(1.719) |
2.617 |
2.404 |
|
|
Employees benefits
expense |
152.909 |
137.709 |
145.622 |
|
|
Other expenses |
144.211 |
145.223 |
150.056 |
|
|
TOTAL (B) |
1553.197 |
1283.082 |
1416.632 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
24.180 |
29.990 |
39.563 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
3.873 |
4.742 |
4.125 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
20.307 |
25.248 |
35.438 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
47.822 |
25.081 |
34.686 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX
(E-F) (G) |
(27.515) |
0.167 |
0.752 |
|
|
|
|
|
|
|
Less |
TAX (H) |
(8.445) |
79.185 |
2.284 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX (G-H)
(I) |
(19.070) |
(79.018) |
(1.532) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
(4.58) |
(18.98) |
(0.37) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
0.000 |
0.000 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
100.020 |
(5.320) |
94.650 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(1.22) |
(6.13) |
(0.11) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
1.55 |
2.32 |
2.76 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.10) |
0.02 |
0.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.05) |
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.03 |
0.07 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21 |
1.28 |
1.26 |
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 |
41.641 |
41.641 |
41.641 |
|
Reserves & Surplus |
588.965 |
509.946 |
490.876 |
|
Net worth |
630.606 |
551.587 |
532.517 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
30.107 |
38.666 |
13.956 |
|
Total borrowings |
30.107 |
38.666 |
13.956 |
|
Debt/Equity ratio |
0.048 |
0.070 |
0.026 |
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 |
1431.299 |
1289.967 |
1559.057 |
|
|
|
(9.874) |
20.860 |
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 |
1431.299 |
1289.967 |
1559.057 |
|
Profit |
(1.532) |
(79.018) |
(19.070) |
|
|
(0.11%) |
(6.13%) |
(1.22%) |
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 |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
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 |
|
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 |
No |
|
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 |
FUTURE OUTLOOK and EXPANSION
PLAN:
The performance of the Company has improved as compared to last fiscal. They have seen some success this fiscal with our solution sales approach and are confident that our investment in the solution sales model will yield results in the next few years. The market conditions continue to remain tight. However the Directors are confident that the Company will grow its business in FY 2015-16.
They are seeing a lot of interest and traction with customers in areas the Company has invested in, such as Software Group (for Banking products and solutions), Advanced Security (DDOS, Advanced Threat Protection, etc.) and iOS based apps for mobility solutions.
FINANCIAL PERFORMANCE
AND OVERVIEW:
Overall the operations of the Company improved and the efforts should have got reflected in the financial statements. However recent changes in regulations and accounting standards particularly relating to depreciation required the Company to change policies to comply with the new changes. This adversely affected the figures for the year.
The Directors realize that it is important to optimize costs and have initiated steps that should result in lower overheads in the next fiscal.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10077287 |
02/07/2013 * |
86,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI- 400013, MAHARASHTRA, INDIA |
B78637436 |
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
|
|
|
|
|
Claims against company not acknowledged as debt |
1074.504 |
1075.874 |
FIXED ASSETS
Tangible Assets
- Buildings
- Office building
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
Intangible Assets
- Goodwill on consolidation subsidiaries
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.37 |
|
UK Pound |
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.72.85 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
GEET |
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 |
-- |
|
--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 |
|
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.