MIRA INFORM REPORT
|
Report No. : |
305585 |
|
Report Date : |
05.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
SURYADEV ALLOYS AND POWER PRIVATE LIMITED |
|
|
|
|
Registered Office : |
497 and 498, 8th Floor, Isana Building, P.H. Road, Arumbakkam, Chennai
– 600106, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
26.05.2006 |
|
|
|
|
Com. Reg. No.: |
18-059997 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.399.453
Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U29141TN2006PTC059997 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CHES27192E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAKCS1246B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
The company is engaged in manufacturing of Iron and Steel
products. |
|
|
|
|
No. of employees : |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limits : |
USD 16800000 |
|
|
|
|
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. Profitability of the company seems to be low during 2014. However, general financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered normal 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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities = BBB- |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk |
|
Date |
06.01.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities = A3 |
|
Rating Explanation |
Have moderate degree of safety and carry high credit risk |
|
Date |
06.01.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
LOCATIONS
|
Registered Office / Marketing Office: |
497 and 498, 8th Floor, Isana Building, P.H. Road, Arumbakkam, Chennai
– 600106, Tamilnadu, India |
|
Tel. No.: |
91-44-42221000 / 42153310 |
|
Fax No.: |
91-44-42221029 / 42221026 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
S. No. 298/2, New Gummidipoondi, Gummidipoondi Taluk, Tiruvallur
-601201, Tamilnadu, India |
|
Tel. No.: |
91-44-27921454 |
|
Fax No.: |
91-44-27921425 |
DIRECTORS
AS ON 27.09.2014
|
Name : |
Mr. Mukesh Agarwal |
|
Designation : |
Managing Director |
|
Address : |
Flat No 4D, The Heritage Apartments, No 18- 21,4Th Cross
Street, Ormes Road, Kilpauk, Chennai, 600010, Tamilnadu, India |
|
Date of Birth/Age : |
31.10.1970 |
|
Date of Appointment : |
26.05.2006 |
|
PAN No.: |
AAFPK6968E |
|
Din No.: |
01122858 |
|
|
|
|
Name : |
Mr. Pankaj Agarwal |
|
Designation : |
Director |
|
Address : |
Flat No 4E, The Heritage Apartments, No 18- 21,4Th Cross Street,Ormes
Road, Kilpauk, Chennai, 600010, Tamilnadu, India |
|
Date of Birth/Age : |
02.08.1974 |
|
Date of Appointment : |
26.05.2006 |
|
PAN No.: |
AFLPA1767N |
|
Din No.: |
01357841 |
|
|
|
|
Name : |
Mr. Vinod Bansal |
|
Designation : |
Director |
|
Address : |
Flat No. 1A, S.A. Building, 1st Floor, 38/19, New Avadi
Road, Kilpauk, Tamilnadu, India |
|
Date of Birth/Age : |
28.12.1973 |
|
Date of Appointment : |
30.09.2009 |
|
PAN No.: |
ABRPV7290B |
|
Din No.: |
02299776 |
|
Name : |
Mr. Govind Baburam Gagoria |
|
Designation : |
Director |
|
Address : |
D-16, Permier
Grihalakshmi Apartments, 640/643, T.H. Road, Tondiarpet, Chennai, 600081,
Tamilnadu, India |
|
Date of Birth/Age : |
12.02.1975 |
|
Date of Appointment : |
10.08.2011 |
|
PAN No.: |
AAIPG7792B |
|
DIN No. : |
00326647 |
|
|
|
|
Name : |
Mr. Mukesh Rambihari Rohatgi |
|
Designation : |
Director |
|
Address : |
D-190 Sector-41, G.B. Nagar, Noida, 201303, Uttar Pradesh, India |
|
Date of Birth/Age : |
27.09.1949 |
|
Date of Appointment : |
23.07.2012 |
|
DIN No. : |
00136067 |
|
|
|
|
Name : |
Mr. Balaji Radhakrishnan |
|
Designation : |
Director |
|
Address : |
Meenatchi
Street, Lakshmi Amman Nagar, Kodungaiyur, 600118, Tamilnadu, India |
|
Date of Birth/Age : |
25.07.1975 |
|
Date of Appointment : |
16.07.2013 |
|
PAN No.: |
ALSPB3946P |
|
DIN No. : |
06365346 |
|
|
|
|
Name : |
Mr. Gautam Kumar Kundu |
|
Designation : |
Director |
|
Date of Birth/Age : |
07.05.1959 |
|
Date of Appointment : |
16.07.2013 |
|
DIN No. : |
06379876 |
|
Address : |
No.319-A, Second Floor, Seventh Cross, Bridavan Road, Salem - 636004,
Tamilnadu, India |
KEY EXECUTIVES
|
Name : |
Mr. Ganesh K P |
|
Designation : |
Secretary |
|
Address : |
West Street, Keezha Derisanamcope,
Azhagiapandiapuram Post, kaniyakumari – 629851, Tamilnadu, India |
|
Date of Birth/Age : |
30.06.1986 |
|
PAN No.: |
BAYPG1861Q |
|
Date of Cessation : |
11.09.2013 |
|
Date of Appointment : |
08.05.2013 |
|
Name : |
Mr. Rajesh P |
|
Designation : |
Secretary |
|
Address : |
No.12/344, Ground Floor,
Pavithra Nagar, Sennerkuppam, Poonammallee, Chennai – 600056, Tamilnadu,
India |
|
Date of Birth/Age : |
19.08.1983 |
|
Date of Appointment : |
03.10.2013 |
|
PAN No.: |
AJWPR2237B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2014
Shareholders details file are attached.
AS ON 27.09.2014
Equity Share Breakup
|
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 |
11.61 |
|
Bodies corporate |
84.20 |
|
Directors or relatives of Directors |
4.19 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in manufacturing of Iron and Steel
products. |
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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
AS ON 31.03.2012
Production for Sale (in Million tones)
|
Particulars |
31.03.2012 |
|
Pig Iron |
5.78 |
|
Sponge Iron |
20.37 |
India is the 4th
largest crude steel producer of steel in the world. In 2011-12(Prov), production
for sale of total finished steel (alloy+ non alloy) was 73.42 MT.
Considering steel
consumption of 300 kg/man/year to be a fair level of economic development,
India will have to reach up to around 300 million tones, if it is to fulfill
its ambitions of being a developed country. Steel Production in India is
expected to reach 124 Million tons by 2012 and 275 Million tons by 2020 which
could make it the second largest steel maker.
GENERAL INFORMATION
|
Supplier : |
Not Available |
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Customer : |
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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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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Singhi and Company Chartered Accountants |
|
Address : |
1, Philips Street, Chennai – 600001, Tamilnadu, India |
|
PAN No.: |
AACFS0926P |
|
|
|
|
Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their relatives
: |
|
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital : Rs. 700.000 Millions
Issued, Subscribed
Capital Paid-up Capital : Rs. 399.453 Millions
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
399.453 |
396.426 |
313.038 |
|
(b) Reserves & Surplus |
4965.178 |
4983.634 |
3053.894 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
500.053 |
500.002 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
5864.684 |
5880.062 |
3366.932 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
7222.922 |
6906.761 |
3672.807 |
|
(b) Deferred tax liabilities
(Net) |
205.000 |
84.700 |
74.500 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
9.500 |
6.100 |
4.400 |
|
Total
Non-current Liabilities (3) |
7437.422 |
6997.561 |
3751.707 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
5287.923 |
5653.007 |
3488.423 |
|
(b) Trade payables |
2189.386 |
682.388 |
588.153 |
|
(c) Other current liabilities |
1403.182 |
405.149 |
304.462 |
|
(d) Short-term provisions |
4.932 |
28.065 |
41.911 |
|
Total
Current Liabilities (4) |
8885.423 |
6768.609 |
4422.949 |
|
|
|
|
|
|
TOTAL |
22187.529 |
19646.232 |
11541.588 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
8991.954 |
1325.203 |
1054.781 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
1182.742 |
7620.861 |
3563.229 |
|
(iv) Intangible assets under
development |
2.010 |
2.020 |
1.935 |
|
(b) Non-current Investments |
6.500 |
6.500 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1792.250 |
1623.153 |
920.915 |
|
(e) Other Non-current assets |
5.978 |
10.619 |
48.930 |
|
Total
Non-Current Assets |
11981.434 |
10588.356 |
5589.790 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.518 |
26.951 |
2.250 |
|
(b) Inventories |
3631.856 |
4198.921 |
2403.851 |
|
(c) Trade receivables |
1908.820 |
1190.893 |
1159.669 |
|
(d) Cash and cash equivalents |
2220.891 |
1818.162 |
1807.468 |
|
(e) Short-term loans and advances |
2391.645 |
1781.975 |
557.062 |
|
(f) Other current assets |
52.365 |
40.974 |
21.498 |
|
Total
Current Assets |
10206.095 |
9057.876 |
5951.798 |
|
|
|
|
|
|
TOTAL |
22187.529 |
19646.232 |
11541.588 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Revenue from operations |
13503.996 |
8374.199 |
7284.131 |
|
|
Other Income |
5.351 |
9.034 |
0.057 |
|
|
TOTAL
|
13509.347 |
8383.233 |
7284.188 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
|
13395.884 |
8162.738 |
6888.372 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
113.464 |
220.495 |
395.816 |
|
|
|
|
|
|
|
Less |
TAX |
26.042 |
64.393 |
70.786 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
87.422 |
156.102 |
325.030 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
NA |
26.407 |
|
|
TOTAL
EARNINGS |
NA |
NA |
26.407 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
NA |
2699.343 |
|
|
Components and Stores parts |
NA |
NA |
1.572 |
|
|
TOTAL IMPORTS |
NA |
NA |
2700.915 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
1.50 |
3.94 |
10.38 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
0.65 |
1.86 |
4.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.54 |
1.83 |
4.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.25 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.13 |
14.27 |
2.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15 |
1.34 |
1.35 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
313.038 |
396.426 |
399.453 |
|
Reserves & Surplus |
3053.894 |
4983.634 |
4965.178 |
|
Share Application money pending allotment |
0.000 |
500.002 |
500.053 |
|
Net worth |
3366.932 |
5880.062 |
5864.684 |
|
|
|
|
|
|
long-term borrowings |
3672.807 |
6906.761 |
7222.922 |
|
Short term borrowings |
3488.423 |
5653.007 |
5287.923 |
|
Total borrowings |
7161.230 |
12559.768 |
12510.845 |
|
Debt/Equity ratio |
2.127 |
2.136 |
2.133 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
7284.131 |
8374.199 |
13503.996 |
|
|
|
14.965 |
61.257 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
7284.131 |
8374.199 |
13503.996 |
|
Profit |
325.030 |
156.102 |
87.422 |
|
|
4.46% |
1.86% |
0.65% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check
List by Info Agents |
Available in Report (Yes / No) |
|
1] |
Year
of Establishment |
Yes |
|
2] |
Locality
of the firm |
Yes |
|
3] |
Constitutions
of the firm |
Yes |
|
4] |
Premises
details |
No |
|
5] |
Type
of Business |
Yes |
|
6] |
Line
of Business |
Yes |
|
7] |
Promoter's
background |
Yes |
|
8] |
No.
of employees |
No |
|
9] |
Name
of person contacted |
No |
|
10] |
Designation
of contact person |
No |
|
11] |
Turnover
of firm for last three years |
Yes |
|
12] |
Profitability
for last three years |
Yes |
|
13] |
Reasons
for variation <> 20% |
-- |
|
14] |
Estimation
for coming financial year |
No |
|
15] |
Capital
in the business |
Yes |
|
16] |
Details
of sister concerns |
Yes |
|
17] |
Major
suppliers |
No |
|
18] |
Major
customers |
Yes |
|
19] |
Payments
terms |
No |
|
20] |
Export
/ Import details (if applicable) |
No |
|
21] |
Market
information |
-- |
|
22] |
Litigations
that the firm / promoter involved in |
-- |
|
23] |
Banking
Details |
Yes |
|
24] |
Banking
facility details |
Yes |
|
25] |
Conduct
of the banking account |
-- |
|
26] |
Buyer
visit details |
-- |
|
27] |
Financials,
if provided |
Yes |
|
28] |
Incorporation
details, if applicable |
Yes |
|
29] |
Last
accounts filed at ROC |
Yes |
|
30] |
Major
Shareholders, if available |
Yes |
|
31] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN
of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
No |
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Other loans and advances |
1500.971 |
822.800 |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advances from others |
79.421 |
70.227 |
|
Other loans and advances, others |
0.000 |
0.000 |
|
Total |
1580.392 |
893.027 |
BUSINESS REVIEW
The company is committed to achieve excellence in spite of the company having to face lot of hurdles and challenges during the Financial Year 2013-14. The Financial Year 2013-14 was a challenging year and your company was able to operate it successfully.
The Company was able to start generating power from its 1 st 80 MW power plant from April 2013 onwards and commissioned the second power plant also in November 2013, much ahead of the Scheduled Commercial Operational Date of April 2014.
Both the power plant are being operated at more than 90 % of its installed capacity and the directors would like to place on record that the performance of the Power plant is satisfactory and have met the expectations.
Some of the major observations are as below:
A) Availability of In-house power, which ensures unhampered production in steel plant.
B) Cost of Power has reduced drastically as the company is not dependent upon TNEB any more for the power and the cost of generating in-house power is substantially lower.
C) Though Power Generation had yielded good profits for the company, there was no much to cheer for the company from the steel sector due to adverse market conditions.
D) The Directors would also like to highlight that the company was able to sustain itself in spite of the bad phase the steel sector was passing through.
E) The Directors had taken a conscious decision of running the plant at a reduced capacity of 53.45 % to ensure that there is no slow movement of inventories and thereby putting undue burden on the company toward the finance cost of holding stock.
Directors would like to bring to the notice of the share holders that there is good demand for the product and due to consistent quality; still the product is sold at a premium in the market
The Company has also implemented facility of hot charging of Billets. i.e. billets are directly sent into the rolling mill for production instead of cooling and reheating, thereby reducing the cost of production substantially to ensure Cost Cutting and ensuring that the profit levels are maintained in future. The Company is now one of the leading manufacturer & unbeatable competitor in the state of Tamil Nadu and expanding its horizon to the other southern states of India .
FUTURE OUTLOOK OF THE
COMPANY:
To tide over the present power crisis in Tamil Nadu and to be able to capture more markets by having a wider product portfolio to cater to, SAPPL as part of current expansion plan is setting up a second 80 MW Captive Power Plant (which is already commissioned and operating at full capacity) and 6.0 Lac MTPA Steel Mill with State-of-the-Art Technology and also an 80 T Electric Arc Furnace for production of billets for use in the rolling mill.
Though their plant comes under secondary steel sector, our proposed steel plant is of very advanced technology, in fact, it will be first of its kind in India . It will be an integrated steel plant.
Proposed steel plant will be capable of producing all sizes of wide range of long steel products like TMT Bars, TMT in coil form, wire rod, channels, angles, structural steel. Structural steel like channels and angles will be produced in High Tensile Grade, which are required for building power transmission and mobile towers.
With Government's proposal of interconnecting of power grids of all states across India , there will be huge requirement of building towers, boosting demand of structural steel. We will also produce wire rods and plain rounds in various alloy grades, which will cater to the automobile industry.
As Tamilnadu is auto industry hub, there is huge demand of alloy grade steel products. Our brand viz., 'Suryadev' is already an established brand because of its quality and timely delivery.
With announcement of new infrastructure projects by the Central and State Government, the steel demand is expected to grow in near future.
Some of the major projects announced/being carried out by Central/State Government are as below:
i. National River Linking Project (NRLP) - NRLP is a huge project with total estimated cost of Rs. 560000000.000 Millions. At its completion, the NRLP will have 30 river links, 3,000 storage structures, a canal network of almost 15,000 kms, generate 34 GW of hydroelectric power, create some 87 million acres of irrigated land, and would transfer 174 trillion litres of water per annum. Project of this magnitude requires huge amount of steel.
ii. Project worth more than Rs. 20000.000 Millions to bring new amenities and infrastructure upgradation at Coimbatore, which includes underground drainage and storm water drains, integrated bus terminus and construction of houses for poor.
iii. National Highway
iv. Interconnecting of Power Grids of all states across India
v. Construction of houses for under privileged by TN Slum Clearance Board and TN Housing Board.
vi. Construction of Houses by TN Police Housing Board.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10536075 |
18/11/2014 |
4,226,000,000.00 |
Indian Overseas Bank |
153/62 & 155/63, Mannarswamy Koil Street,
Royapur |
C36675296 |
|
2 |
10103130 |
13/07/2010 * |
300,300,000.00 |
UNION BANK OF INDIA |
OVERSEAS BRANCH, OLD.NO.96, NEW,NO.74, G.N.CHETTY |
A89614630 |
|
3 |
10060574 |
21/06/2013 * |
10,241,800,000.00 |
INDIAN OVERSEAS BANK |
ROYAPURAM BRANCH, 153/62, 155/63, M.S Koil Street |
B79507927 |
* Date of charge modification
FIXED
ASSETS :
·
Land
·
Building
·
Vehicles
·
Office equipment
·
Furniture and fixtures
·
Factory building
·
Plant and equipment
·
Factory equipments
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 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.61.88 |
|
|
1 |
Rs.93.27 |
|
Euro |
1 |
Rs.69.94 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
48 |
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.