MIRA INFORM REPORT
|
Report No. : |
308852 |
|
Report Date : |
20.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
MAHINDRA SHUBHLABH SERVICES LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
11.04.2000 |
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Com. Reg. No.: |
11-125781 |
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Capital
Investment / Paid-up Capital : |
Rs. 101.145 Millions |
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CIN No.: [Company Identification
No.] |
U01409MH2000PLC125781 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM20219D |
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PAN No.: [Permanent Account No.] |
AACCM1298D |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Trading and Distribution of Fresh Fruit Products. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
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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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a part of Mahindra Group. It is an established company having satisfactory track record. The company has performed well during FY 2014. It has been successful
in wiping off its accumulated losses of the previous years. The rating also takes into consideration strong operational and
financial support received to the subject company from its group. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. In view of strong group, 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term = A- |
|
Rating Explanation |
Adequate degree of safety and carry low
credit risk. |
|
Date |
November 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.
INFORMATION DECLINED BY
|
Name : |
Mr. Rakesh Panchal |
|
Contact No.: |
91-22-66483051 |
|
Date : |
19.02.2015 |
LOCATIONS
|
Registered Office : |
Mahindra Towers, Dr. G. M. Bhosale Marg, P. K. Kurne
Chowk, Worli, Mumbai – 400018, Maharashtra, India |
|
Tel. No.: |
91-22-24931441 |
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Fax No.: |
91-22-24975081 |
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E-Mail : |
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Website : |
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Corporate Office : |
Farm Equipment Sector, Gate No.2, Akurli Road, Kandivali (East),
Mumbai - 400101, Maharashtra, India |
DIRECTORS
AS ON 25.07.2014
|
Name : |
Mr. Manohar Gopal Bhide |
|
Designation : |
Director |
|
Address : |
A-5, Bageshree, Shankar Ghanekar Marg, Prabhadevi, Mumbai - 400025, Maharashtra, India |
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Date of Birth/Age : |
14.02.1939 |
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Qualification : |
M.A. Economics, C.A.I.I.B. |
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Date of Appointment : |
02.11.2000 |
|
DIN No.: |
00001826 |
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|
|
Name : |
Mr. Chandrasekar Kandasamy |
|
Designation : |
Director |
|
Address : |
DII/53 Mahindra Park LBS Marg, Ghatkopar, Mumbai - 400086, Maharashtra, India |
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Date of Birth/Age : |
08.01.1954 |
|
Qualification : |
M.A., Certificate Course Banking and Financial Services |
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Date of Appointment : |
22.12.2006 |
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DIN No.: |
01084215 |
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Name : |
Mr. Anoop Krishna Mathur |
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Designation : |
Director |
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Address : |
Flat No.13, Om Ratan, 70/71 Pochkanwala Road Worli, Mumbai - 400025, Maharashtra, India |
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Date of Birth/Age : |
22.10.1947 |
|
Qualification : |
B. Tech Chemical Engineering from I.I.T. Kanpur. Advanced
Management Programme of the Wharton Business School, USA and the Advanced
Supply Chain Programme of Princeton University, USA. |
|
Date of Appointment : |
25.04.2007 |
|
DIN No.: |
00014372 |
|
|
|
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Name : |
Mr. Ashok Hiralal Sharma |
|
Designation : |
Director |
|
Address : |
901, 9th Floor, Imperial Heights, 16/21st Road, Bandra [West], Mumbai - 400050, Maharashtra, India |
|
Date of Birth/Age : |
15.06.1964 |
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Qualification : |
Bachelor Degree in Mechanical Engineering from Victoria Jubilee
Technical Institute, Mumbai and Masters in Management Studies from Jamnalal
Bajaj Institute, Mumbai |
|
Date of Appointment : |
06.12.2010 |
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DIN No.: |
02766679 |
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|
|
|
Name : |
Ms. Veena Vedprakash Mishra |
|
Designation : |
Director |
|
Address : |
1203, 12th Floor, Raheja Tipco Height 04, Western Express Highway, Malad [East], Mumbai - 400097, Maharashtra, India |
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Date of Birth/Age : |
14.07.1956 |
|
Qualification : |
Master’s degree in Economics from the Delhi School of
Economics. Ph.D. in Economics from the University of Western Ontario, Canada. |
|
Date of Appointment : |
27.04.2011 |
|
DIN No.: |
03502175 |
KEY EXECUTIVES
|
Name : |
Mr. Feroze Hoshang Baria |
|
Designation : |
Secretary |
|
Address : |
630, Gemfrina, Khareghat Road, Parsi Colony, Dadar, Mumbai - 400014, Maharashtra, India |
|
Date of Birth/Age : |
09.07.1971 |
|
Date of Appointment : |
09.05.2000 |
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PAN No.: |
AADPB1596R |
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|
|
|
Name : |
Mr. Vikram Puri |
|
Designation : |
Manager |
|
Address : |
Flat No. 7, Panoramic View, Co-Operative, Housing Society, 30 Golf Links, Pali Hill, Khar, Mumbai - 400052, Maharashtra, India |
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Date of Birth/Age : |
06.09.1958 |
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Date of Appointment : |
19.08.2005 |
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PAN No.: |
AAHPP1456C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.07.2014
|
Names of Shareholders |
|
No. of Shares |
|
Mahindra and Mahindra Limited, India |
|
8912393 |
|
Mahindra and Mahindra Limited, India Jointly with K. Chandrasekar |
|
1 |
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Mahindra and Mahindra Limited, India Jointly with Ashok Sharma |
|
1 |
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Mahindra and Mahindra Limited, India Jointly with C. Krishnadas |
|
1 |
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Mahindra and Mahindra Limited, India Jointly with M.A. Nazareth |
|
1 |
|
Mahindra and Mahindra Limited, India Jointly with Roshni Sagreiya |
|
1 |
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Mahindra and Mahindra Limited, India Jointly with V.S. Parthasarathy |
|
1 |
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Mahindra Holdings Limited, India |
|
1202114 |
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Mahindra and Mahindra Limited, India Jointly with Bishwambhar Mishra |
|
1 |
|
|
|
|
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Total |
|
10114514 |
AS ON 25.07.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
100.00 |
|
|
|
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trading and Distribution of Fresh Fruit Products. |
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Products/ Services : |
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Brand Names : |
“Mahindra” |
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Agencies Held : |
-- |
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Exports : |
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Products : |
-- |
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Countries : |
-- |
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Imports : |
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Products : |
-- |
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Countries : |
-- |
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Terms : |
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Selling : |
-- |
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Purchasing : |
-- |
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 : |
· HDFC Bank Limited HDFC Bank House,
Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India · Bank of Baroda Corporate Financial
Services Branch, Ballard Pier Walchand Hirachand Marg, Mumbai - 400001,
Maharashtra, India · Yes Bank Limited 9th Floor,
Nehru Centre, Discovery of India, Dr. Annie Besant Road, Worli, Mumbai
- 400018, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
Indiabulls Finance Centre, Tower 3,32nd Floor, Elphinstone
Mill Compound, Senapati Bapat Marg, Elphinstone (West), Mumbai – 400013,
Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AACFD4815A |
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Holding company : |
Mahindra and Mahindra Limited [L65990MH1945PLC004558] |
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Fellow Subsidiary
company : |
· Mahindra Holidays and Resorts India Limited [L55101TN1996PLC036595] Bristlecone India Limited [U30007MH1991PLC064368] Mahindra Integrated Business Solutions Private Limited
[U74999MH2011PTC212468] Mahindra Logistics Limited [U63000MH2007PLC173466] |
CAPITAL STRUCTURE
AFTER 25.07.2014
Authorised Capital : Rs. 600.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 134.145
Millions
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 600.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
10,114,514 |
Equity Shares |
Rs. 10/- each |
Rs. 101.145 Millions |
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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 |
101.145 |
61.145 |
61.145 |
|
(b) Reserves & Surplus |
28.918 |
(39.376) |
(73.341) |
|
(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) |
130.063 |
21.769 |
(12.196) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
6.805 |
7.562 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
6.425 |
4.629 |
3.505 |
|
Total Non-current
Liabilities (3) |
13.230 |
12.191 |
3.505 |
|
|
|
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|
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(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
150.000 |
215.006 |
103.219 |
|
(b)
Trade payables |
406.617 |
267.489 |
190.179 |
|
(c)
Other current liabilities |
22.048 |
21.565 |
30.467 |
|
(d) Short-term
provisions |
2.196 |
0.369 |
0.291 |
|
Total Current
Liabilities (4) |
580.861 |
504.429 |
324.156 |
|
|
|
|
|
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TOTAL |
724.154 |
538.389 |
315.465 |
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
5.414 |
3.225 |
0.848 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
4.196 |
0.000 |
2.371 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
5.875 |
5.875 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8.494 |
13.239 |
2.187 |
|
(e) Other
Non-current assets |
1.997 |
0.064 |
1.564 |
|
Total Non-Current
Assets |
25.976 |
22.403 |
6.970 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
0.00z0 |
0.000 |
0.000 |
|
(b)
Inventories |
489.378 |
373.424 |
196.825 |
|
(c)
Trade receivables |
148.162 |
63.991 |
70.368 |
|
(d) Cash
and cash equivalents |
25.186 |
61.501 |
7.503 |
|
(e) Short-term
loans and advances |
6.747 |
7.434 |
21.681 |
|
(f)
Other current assets |
28.705 |
9.636 |
12.118 |
|
Total
Current Assets |
698.178 |
515.986 |
308.495 |
|
|
|
|
|
|
TOTAL |
724.154 |
538.389 |
315.465 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
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|
SALES |
|
|
|
|
|
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Revenue from Operations |
1453.793 |
852.401 |
427.445 |
|
|
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Other Income |
34.453 |
3.811 |
4.674 |
|
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|
TOTAL (A) |
1488.246 |
856.212 |
432.119 |
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
139.338 |
86.177 |
33.559 |
|
|
|
Purchases of Stock-in-Trade |
919.888 |
583.624 |
325.461 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(102.680) |
(128.371) |
(58.285) |
|
|
|
Employees benefits expense |
39.920 |
33.012 |
21.790 |
|
|
|
Other expenses |
393.952 |
229.650 |
89.090 |
|
|
|
TOTAL (B) |
1390.418 |
804.092 |
411.615 |
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PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
97.828 |
52.120 |
20.504 |
|
|
|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
8.478 |
8.683 |
8.971 |
|
|
|
|
|
|
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|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
89.350 |
43.437 |
11.533 |
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.556 |
0.281 |
0.218 |
|
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|
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|
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PROFIT BEFORE
TAX (E-F) (G) |
85.794 |
43.156 |
11.315 |
|
|
|
|
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|
|
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|
Less |
TAX (H) |
17.500 |
9.191 |
5.090 |
|
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|
PROFIT AFTER TAX
(G-H) (I) |
68.294 |
33.965 |
6.225 |
|
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|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods on F.O.B. basis |
884.125 |
509.291 |
207.489 |
|
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|
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|
IMPORTS |
|
|
|
|
|
|
|
Purchase of Traded Goods |
52.034 |
53.356 |
73.430 |
|
|
|
Purchase of Packing materials |
71.327 |
69.690 |
23.015 |
|
|
|
Purchase of capital goods |
3.944 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
127.305 |
123.046 |
96.445 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.39 |
5.55 |
1.02 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
4.70 |
3.98 |
1.46 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
6.73 |
6.11 |
4.80 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.01 |
8.10 |
3.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.66 |
1.98 |
-0.93 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.21 |
10.22 |
-8.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20 |
1.02 |
0.95 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
61.145 |
61.145 |
101.145 |
|
Reserves & Surplus |
(73.341) |
(39.376) |
28.918 |
|
Net
worth |
(12.196) |
21.769 |
130.063 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
7.562 |
6.805 |
|
Short term borrowings |
103.219 |
215.006 |
150.000 |
|
Total
borrowings |
103.219 |
222.568 |
156.805 |
|
Debt/Equity ratio |
(8.463) |
10.224 |
1.206 |
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 |
427.445 |
852.401 |
1453.793 |
|
|
|
99.418 |
70.553 |
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 |
427.445 |
852.401 |
1453.793 |
|
Profit |
6.225 |
33.965 |
68.294 |
|
|
1.46% |
3.98% |
4.70% |
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 |
Yes |
|
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 |
No |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10493179 |
13/03/2014 |
150,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. |
C04298642 |
|
2 |
10324264 |
05/12/2011 |
30,000,000.00 |
BANK OF BARODA |
CORPORATE FINANCIAL SERVICES BRANCH, BALLARD PIER WALCHAND HIRACHAND MARG, MUMBAI, MAHARASHTRA - 400001, INDIA |
B28102580 |
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
6.805 |
7.562 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
0.000 |
65.000 |
|
|
|
|
|
Total |
6.805 |
72.562 |
CORPORATE INFORMATION
Subject is engaged in the business of distribution of fruits
which includes import of fruits, domestic sales and export of fruits. It is
mainly into trading of fresh fruit products in domestic market as well as
export on consignment basis.
OPERATIONS
During the year, the performance of the Company reflects a significant improvement as compared to the previous year. The Company exported an all-time high of 642 containers of Grapes (approximately 9250 MTS) during the current year as compared to 417 containers (approximately 6200 MTS) in the previous Financial Year resulting in all time high Revenues and Profits. This has been possible due to high volume procurements as a result of the Company’s signature Khet-Se-Kaliyan-Tak (?KSKT?) initiatives adopted by the Company over the last few years, farmer engagement and farmer recognition initiatives such as Farmer Felicitation and Awards functions, multilocation sourcing, expansion of supply window by early procurements from December, 2013 and scaling up volumes to Russia and South East Asia. KSKT initiatives have resulted in, inter alia, building a strong bonding with the farmers due to which significant improvement in yields of exportable grapes per acre has been achieved. The Company was the largest Indian exporter of Grapes to the European Union in the last season and will continue to occupy the first position in the current season as well.
The Company has placed strict controls on the chemicals residue and is continuously being managed over the season. Consequently, there have been no quality issues in the current Financial Year pertaining to the export markets.
In the domestic fruit business, since the market conditions were not very favourable, the Company decided to go slow in imports of fruits.
CURRENT YEAR
The outlook for crop in the 2014 season is better in terms of productivity despite some weather aberrations due to unseasonal rainfall and hailstorms in the operating Grape producing regions. This is because the Company was successful in being able to expand the sourcing window and multi-location operations and again strong support from KSKT initiatives. The European market continues to remain strong, consequently the Company expects exports to be much better than in the previous years.
The Company has intensified efforts to grow in markets other than Europe. It has developed and implemented steps to constantly review European Union Food Safety Regulations relating to phyto-sanitary standards of different markets that are being opened.
FIXED ASSETS:
· Plant and equipment
Other
plant and equipment
Furniture
and fixtures
Vehicles
Motor
vehicles
Office
equipment
Computer
equipments
Other
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 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. 62.25 |
|
UK Pound |
1 |
Rs. 95.57 |
|
Euro |
1 |
Rs. 71.01 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.