MIRA INFORM REPORT
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Report No. : |
309996 |
|
Report Date : |
26.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
DEVASHREE ISPAT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
11B, Jatindra Mohan Avenue, Kolkata – 700006, West Bengal |
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|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
03.08.2004 |
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Com. Reg. No.: |
21-099316 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 21.205 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51420WB2004PTC099316 |
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|
|
|
IEC No.: |
0205005331 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALD03388A |
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|
|
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PAN No.: [Permanent Account No.] |
AACCD0753E |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business
: |
Manufacturer of TMT Bars |
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|
|
|
No. of Employees
: |
(Office=40+ Factory=260) 300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Exists |
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Comments : |
Subject is an established company having moderate track record. The company has incurred a loss from its operations 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 for business dealings with some cautions |
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 |
CRISIL |
|
Rating |
Long Term Rating = BBB- (Suspended) |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
19 December, 2014 |
|
|
|
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term Rating= A3 (Suspended) |
|
Rating Explanation |
Have moderate degree of safety and carry higher credit risk |
|
Date |
19 December, 2014 |
Note: The suspension of ratings is on account of non – co-operation by company
with CRISIL’s efforts to undertakes a review of the ratings outstanding.
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 PARTED BY
|
Name : |
Mr. D.S.S. Reddy |
|
Designation : |
Manager Accounts |
|
Contact No.: |
91-9397189118 |
|
Date : |
26.02.2015 |
LOCATIONS
|
Registered Office : |
11B, Jatindra Mohan Avenue, Kolkata – 700006, West Bengal, India |
|
Tel. No.: |
91-33-25338849 |
|
Mobile No.: |
91-9397189118 (Mr. D.S.S. Reddy) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Factory 1 : |
Sy.No.460, 6th KM Pargi Road, Elikatta Village, Faruqnagar
Mandal, Shadnagar Taluq, Mahabubnagar District - 509 216, Andhra Pradesh,
India |
|
Tel. No.: |
91-8548 – 213878/213879 |
|
Location: |
Owned |
|
Area: |
15 Acres |
|
|
|
|
Branch Office : |
8-2-2-293/82, Plot No. 86, Prashasan
Nagar, Road No. 72, Jubilee Jills, PO Film Nagar – 500096, Hyderabad, India |
|
Tel. No.: |
91-40-23557185/23557186/23557184/23550175 |
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Fax No.: |
91-40-23553113 |
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Location: |
Rented |
|
Area: |
300 Sq. Ft. |
DIRECTORS
As on: 30.09.2014
|
Name : |
Mr. Neeraj Goenka |
|
Designation : |
Director |
|
Address : |
95, Prashasan Nagar, Jubilee Jills, |
|
Date of Birth/Age : |
09.03.1965 |
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Qualification: |
Graduate |
|
Experience |
30 Years |
|
Date of Appointment : |
28.12.2005 |
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DIN No.: |
00291367 |
|
|
|
|
Name : |
Mr. Prakash Goenka |
|
Designation : |
Managing Director |
|
Address : |
11B, |
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Date of Birth/Age : |
08.08.1960 |
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Qualification: |
Graduate |
|
Experience |
35 Years |
|
Date of Appointment : |
03.08.2004 |
|
DIN No.: |
00291430 |
KEY EXECUTIVES
|
Name : |
Mr. Pramod |
|
Designation : |
Sales Officer |
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|
|
|
Name : |
Mr. D.S.S. Reddy |
|
Designation : |
Manager Accounts |
|
Name : |
Mr. Naresh |
|
Designation : |
Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Prakash Goenka |
|
151667 |
|
Mrs. Sujata Goenka |
|
74900 |
|
Mrs. Bina Devi Goenka |
|
52500 |
|
Mrs. Chandra Kanta Goenka |
|
42500 |
|
Mrs. Jayshree Goenka |
|
66667 |
|
Mr. Neeraj Kumar Goenka |
|
119166 |
|
Mrs. Nirmala Devi Goenka |
|
101000 |
|
Ms. Rajshree Goenka |
|
30000 |
|
Mr. Shyam Sunder Goenka |
|
42500 |
|
Mr. Siddhartha Goenka |
|
30000 |
|
Sree Ram Plywood Manufacturing Company Private Limited (India) |
|
507500 |
|
Indraloke Dealers Private Limited (India) |
|
373500 |
|
Sakambari Commercial Private Limited (India) |
|
373500 |
|
Ms. Devashree Goenka |
|
100 |
|
MMG Steel Private Limited (India) |
|
75000 |
|
Amit Saraf |
|
2500 |
|
Sanjay Agarwal |
|
2500 |
|
Mrs. Bimla Devi Jhunjhunwala |
|
25000 |
|
Mr. Raj Kumar Jhunjhunwala |
|
50000 |
|
Total |
|
2120500 |
As on: 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
62.70 |
|
Directors or relatives of Directors |
24.21 |
|
Other top fifty shareholders |
13.09 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of TMT Bars |
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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 Applicable |
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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 : |
L/C (90 Days) |
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Purchasing : |
Not Divulged |
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Products |
Installed Capacity |
Actual Production |
|
TMT Bars |
125000 MT. P.A |
60000MT P.A |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers and Retailers
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No. of Employees : |
(Office=40+ Factory=260) 300 (Approximately) |
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Bankers : |
Account
Number: 0422320003619
Credit
Limit: Rs.150.000 Millions |
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Facilities : |
(Rs.
In Millions)
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Auditors : |
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Name : |
P.K. Jhawar and Company Chartered Accountant |
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Address : |
7A, |
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Tal. No.: |
91-33-22135672 |
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Fax No.: |
91-33-22430113 |
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Email. |
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PAN No.: |
ACGPJ3261J |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
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Enterprises having significant interest by way of shareholding in the
company (Others) |
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Sister Concern: |
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CAPITAL STRUCTURE
As on: 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs. 40.000 Millions |
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Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2120500 |
Equity Shares |
Rs.10/- each |
Rs. 21.205 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 |
21.205 |
16.580 |
16.580 |
|
(b) Reserves & Surplus |
251.179 |
204.936 |
188.786 |
|
(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) |
272.384 |
221.516 |
205.366 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
535.594 |
383.837 |
268.125 |
|
(b) Deferred tax liabilities (Net) |
20.906 |
7.087 |
6.500 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
1.648 |
1.596 |
1.180 |
|
Total Non-current
Liabilities (3) |
558.148 |
392.520 |
275.805 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
118.940 |
65.542 |
89.095 |
|
(b) Trade
payables |
201.528 |
170.463 |
99.365 |
|
(c) Other
current liabilities |
90.318 |
100.485 |
52.453 |
|
(d) Short-term
provisions |
0.136 |
0.065 |
0.000 |
|
Total Current
Liabilities (4) |
410.922 |
336.555 |
240.913 |
|
|
|
|
|
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TOTAL |
1241.454 |
950.591 |
722.084 |
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
344.518 |
199.849 |
169.031 |
|
(ii)
Intangible Assets |
0.032 |
0.032 |
0.032 |
|
(iii)
Capital work-in-progress |
92.253 |
21.626 |
14.480 |
|
(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 |
128.397 |
62.532 |
38.209 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
565.200 |
284.039 |
221.752 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
241.815 |
375.583 |
224.132 |
|
(c) Trade
receivables |
386.913 |
238.422 |
250.471 |
|
(d) Cash
and cash equivalents |
33.500 |
28.408 |
21.757 |
|
(e)
Short-term loans and advances |
14.026 |
24.139 |
3.972 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total Current
Assets |
676.254 |
666.552 |
500.332 |
|
|
|
|
|
|
TOTAL |
1241.454 |
950.591 |
722.084 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2171.438 |
2085.620 |
|
|
|
|
Other Income |
177.498 |
13.266 |
|
|
|
|
TOTAL (A) |
2348.936 |
2098.886 |
2096.100 |
|
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|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
1224.152 |
1250.801 |
|
|
|
|
Manufacturing Expenses |
90.657 |
23.433 |
|
|
|
|
Other expenses |
903.747 |
734.364 |
|
|
|
|
TOTAL (B) |
2218.556 |
2008.598 |
2015.863 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
130.380 |
90.288 |
80.237 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
72.580 |
33.005 |
30.903 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
57.800 |
57.283 |
49.334 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
53.002 |
35.510 |
31.234 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4.798 |
21.773 |
18.100 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
11.699 |
5.623 |
2.411 |
|
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|
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|
|
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|
PROFIT/LOSS
AFTER TAX (G-H) (I) |
(6.901) |
16.150 |
15.689 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
66.366 |
50.216 |
34.527 |
|
|
|
|
|
|
|
|
|
Add |
Earlier year excess proposed dividend and dividend
distribution tax (L) |
6.726 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
66.191 |
66.366 |
50.216 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores & Spares |
0.481 |
0.755 |
NA |
|
|
TOTAL IMPORTS |
0.481 |
0.755 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(3.25) |
9.74 |
9.46 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(0.32) |
0.77 |
NA |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
6.00 |
4.33 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.42 |
2.34 |
2.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.10 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.40 |
2.03 |
1.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.65 |
1.98 |
2.08 |
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 |
16.580 |
16.580 |
21.205 |
|
Reserves & Surplus |
188.786 |
204.936 |
251.179 |
|
Net worth |
205.366 |
221.516 |
272.384 |
|
|
|
|
|
|
long-term borrowings |
268.125 |
383.837 |
535.594 |
|
Short term borrowings |
89.095 |
65.542 |
118.940 |
|
Total borrowings |
357.220 |
449.379 |
654.534 |
|
Debt/Equity ratio |
1.739 |
2.029 |
2.403 |
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) |
|
Total Income |
2096.100 |
2098.886 |
2348.936 |
|
|
|
0.133 |
11.913 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Total Income |
2096.100 |
2098.886 |
2348.936 |
|
Profit/Loss |
15.689 |
16.150 |
(6.901) |
|
|
0.75% |
0.77% |
(0.29%) |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
Yes |
|
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 |
LITIGATION
DETAILS:
|
LITIGATION DETAILS |
||||
|
CALCUTTA HIGH COURT |
||||
|
CASE STATUS INFORMATION SYSTEM |
||||
|
Status of COMPANY PETITIONS (CP)156 OF 2013 |
||||
|
IN THE MATTER
OF: SRINATH METAL PRIVATE LIMITED VS. IN THE MATTER OF: DEVASHREE ISPAT
PRIVATE LIMITED |
||||
|
Petitioner:- |
DHIRAJ KUMAR GUPTA |
Last Listed on |
Monday, February24, 2014 |
|
|
COURT No.: |
8 : |
|||
|
Category:- |
No Category Mentioned |
|||
|
|
CONNECTED APPLICATION(S) No Connected
Application |
CONNECTED MATTER (S) No Connected Cases |
||
|
Case Updated on: Monday, February 24, 2014 |
||||
TRADE REFERENCE:
|
Trade reference |
|
UNSECURED LOAN
|
Particular |
As
on 31.03.2014 (Rs.
In Millions) |
As
on 31.03.2013 (Rs.
In Millions) |
|
Long Tem
Borrowing |
|
|
|
Deposits from directors |
2.062 |
2.815 |
|
Deposits from shareholders |
18.516 |
19.378 |
|
Intercorporate borrowings |
511.250 |
358.314 |
|
Total |
531.828 |
380.507 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10371980 |
04/02/2013 * |
303,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, MID CORPORATE GROUP, RAJBHAVAN ROAD, SOMAJIGUDA, HYDERABAD, ANDHRA PRADESH - 500082, INDIA |
B69571750 |
|
2 |
10307737 |
30/07/2011 |
1,675,700.00 |
BAJAJ FINANCE LIMITED |
AKURDI PUNE-, PUNE, MAHARASHTRA - 411035, INDIA |
B21203195 |
|
3 |
10213542 |
26/02/2010 |
1,582,474.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A83625442 |
|
4 |
10161774 |
26/05/2009 |
1,445,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A63139018 |
|
5 |
10119958 |
25/08/2008 |
151,000,000.00 |
STATE BANK OF INDIA |
MID CORPORATE LOAN ADMINISTRATION UNIT, 3-6-281/A 1, FIRST FLOOR, HYDERGUDA, HYDERABAD, ANDHRA PRADESH - 500029, INDIA |
A44935278 |
|
6 |
10122701 |
25/08/2008 |
151,000,000.00 |
STATE BANK OF INDIA |
MID CORPORATE LOAN ADMINISTRATION UNIT, 3-6-281/A |
A45937281 |
|
7 |
90256693 |
07/04/2014 * |
402,700,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, MID CORPORATE GROUP, RAJBHAVAN ROAD, SOMAJIGUDA, HYDERABAD, ANDHRA PRADESH - 500082, INDIA |
C03787199 |
* Date of charge modification
FIXED ASSETS:
- Land
- Buildings
- Plant and equipment
- Plant and Machinery
- Office Equipments
- Furniture and Fixtures
- Computer and Peripherals
- Vehicles
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 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.62.05 |
|
|
1 |
Rs.96.03 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.