MIRA INFORM REPORT
|
Report No. : |
301827 |
|
Report Date : |
07.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
BUSINESS STANDARD LIMITED |
|
|
|
|
Registered
Office : |
Nehru House 4, Bahadur Shah Zafar Marg, New Delhi – 110002 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
16.12.1970 |
|
|
|
|
Com. Reg. No.: |
55-100242 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.1238.217 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U00000DL1970PLC100242 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELB03377D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCB2115P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject acts as Publisher of Business English Daily - “Business
Standard” published from Kolkata, Mumbai and |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 350000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There are huge accumulated losses recorded by the company.
Profitability is under pressure. Trade relations are reported as fair.
Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution. |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Ajit Ghosh |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-11-23474238 |
|
Date : |
03.01.2014 |
LOCATIONS
|
Registered Office : |
Nehru House 4, Bahadur Shah Zafar Marg, New Delhi – 110002, India |
|
Tel. No.: |
91-11-23720202-10 |
|
Fax No.: |
91-11-23720201/23353454 |
|
Email: |
|
|
|
|
|
Branches : |
H/3&4, Paragon Centre, Opposite Century Mills, P.B. Marg, Worli,
Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-24978456-69 |
|
Fax No.: |
91-22-24978540 |
DIRECTORS
AS ON 11.09.2014
|
Name : |
Mr. Jaimin Bhatt Mukund |
|
Designation : |
Director |
|
Address : |
18, 5th Floor, Jeevan Jyoti, 29-B/C, Lallubhai Park, Andheri (West),
Mumbai - 400058, Maharashtra, India |
|
Date of Birth/Age : |
30.03.1962 |
|
Date of Appointment : |
08.02.1999 |
|
DIN No.: |
00003657 |
|
|
|
|
Name : |
Mr. Sumanlal Babulal Shah |
|
Designation : |
Director |
|
Address : |
51 Solitaire, Central Avenue, Santacruz West, Mumbai - 400054,
Maharashtra, India |
|
Date of Birth/Age : |
27.11.1949 |
|
Date of Appointment : |
23.08.2008 |
|
DIN No.: |
00019473 |
|
|
|
|
Name : |
Mr. Thoppil Ninan Ninan |
|
Designation : |
Director |
|
Address : |
Flat - 2b, 1/23, Shantiniketan, New Delhi - 110021, India |
|
Date of Birth/Age : |
09.12.1949 |
|
Date of Appointment : |
02.01.2013 |
|
DIN No.: |
00226194 |
|
|
|
|
Name : |
Mr. Raghunath Tirupattur Venkataraman |
|
Designation : |
Director |
|
Address : |
11, Kalpataru Harmony, Sion Matunga Road,, Near Sion Telephone Exchange,
Sion (E), Mumbai - 400022, Maharashtra, India |
|
Date of Birth/Age : |
11.05.1962 |
|
Date of Appointment : |
27.03.2008 |
|
DIN No.: |
02143711 |
KEY EXECUTIVES
|
Name : |
Mr. Basu Debojyoti |
|
Designation : |
Manager |
|
Address : |
86, North Avenue, New Delhi - 110001, India |
|
Date of Birth/Age : |
31.05.1955 |
|
Date of Appointment : |
02.01.2013 |
|
PAN No.: |
AAAPD0941P |
|
|
|
|
Name : |
Mr. Akila Urankar |
|
Designation : |
Cheif |
|
Address : |
B Jagdish, 185, 15th Road, Chembur, Mumbai - 400071, Maharashtra,
India |
|
Date of Appointment : |
12.05.2014 |
|
PAN No.: |
AAAPU0275B |
|
|
|
|
Name : |
Mr. Manoj Sharma |
|
Designation : |
Secretary |
|
Address : |
O-10, Geeta Enclave, Uttam Nagar, New Delhi - 110059, India |
|
Date of Birth/Age : |
23.05.1985 |
|
Date of Appointment : |
23.07.2014 |
|
PAN No.: |
CRVPS9493P |
MAJOR SHAREHOLDERS
AS ON 11.09.2014
|
Names of Shareholders |
No. of Shares |
|
Rajgad Trading Company Private Limited, Pune |
6250 |
|
Jannhavi Investments Private Limited, Pune |
6250 |
|
Budhrani Finance Limited, Mumbai |
250000 |
|
Patel Karsanbhai Rakeshbhai |
43600 |
|
Komaf Financial Services Limited, Mumbai |
59955567 |
|
T.N. Ninan Jointly with Sevanti Ninan |
1181020 |
|
Kotak Mahindra Investments Limited |
1000 |
|
Cumulus Trading Company Private Limited, Mumbai |
2470760 |
|
Infina Finance Private Limited, Mumbai |
68439378 |
|
Mahindra and Mahindra Limited, Mumbai |
500000 |
|
Kotak Mahindra Bank Limited, Mumbai |
1000 |
|
Kotak Mahindra Trusteeship Services Limited, Mumbai |
5000000 |
|
|
|
|
Total |
137854825 |
Equity Share Break up (Percentage of Total Equity)
AS ON 11.09.2014
|
Category |
Percentage |
|
Bodies corporate |
99.11 |
|
Directors or relatives of Directors |
0.86 |
|
Other top fifty shareholders |
0.03 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject acts as Publisher of Business English Daily - “Business
Standard” published from Kolkata, Mumbai and |
||||||||||||||
|
|
|
||||||||||||||
|
Products : |
|
||||||||||||||
|
|
|
||||||||||||||
|
Brand Names : |
Not Divulged |
||||||||||||||
|
|
|
||||||||||||||
|
Agencies Held : |
Not Divulged |
||||||||||||||
|
|
|
||||||||||||||
|
Exports : |
Not Divulged |
||||||||||||||
|
|
|
||||||||||||||
|
Imports : |
Not Divulged |
||||||||||||||
|
|
|
||||||||||||||
|
Terms : |
|
||||||||||||||
|
Selling : |
Not Divulged |
||||||||||||||
|
|
|
||||||||||||||
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
·
Kotak Mahindra Bank Limited, 36-38a
Narimanbhavan, 227, D, Nariman Point, Mumbai , Maharashtra, India |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountant |
|
Address : |
7th Floor, Building 10, Tower B, Dlf Cyber City Complex, Dlf Cyber
City Phase-III, Gurgaon – 122002, Haryana, India |
|
PAN No.: |
AABFD2095B |
|
|
|
|
Membership : |
-- |
|
|
|
|
Subsidiary company
: |
· Business Standard Online Limited |
|
|
|
|
Enterprises having
substantial interest in the company : |
· Komaf Financial Services Limited · Infina Finance Private Limited |
CAPITAL STRUCTURE
AS ON 11.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
138000000 |
Equity Shares |
Rs.10/- each |
Rs.1380.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
123821700 |
Equity Shares |
Rs.10/- each |
Rs.1238.217 Millions |
|
14033125 |
Equity Shares |
Rs.4/- each |
Rs.56.133 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.1294.350
Millions |
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12400000 |
Equity Shares |
Rs.10/- each |
Rs.1240.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
123821700 |
Equity Shares |
Rs.10/- each |
Rs.1238.217 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 |
1238.217 |
1088.433 |
988.576 |
|
(b) Reserves & Surplus |
(1115.546) |
(986.065) |
(857.807) |
|
(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) |
122.671 |
102.368 |
130.769 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
15.492 |
21.512 |
18.622 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
15.492 |
21.512 |
18.622 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
82.296 |
88.792 |
67.163 |
|
(b) Trade
payables |
140.547 |
162.131 |
181.994 |
|
(c) Other
current liabilities |
23.750 |
24.668 |
27.697 |
|
(d) Short-term
provisions |
40.363 |
35.812 |
34.727 |
|
Total Current
Liabilities (4) |
286.956 |
311.403 |
311.581 |
|
|
|
|
|
|
TOTAL |
425.119 |
435.283 |
460.972 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
48.050 |
53.092 |
64.896 |
|
(ii)
Intangible Assets |
12.339 |
16.701 |
9.838 |
|
(iii)
Capital work-in-progress |
0.182 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.501 |
0.501 |
0.501 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
26.207 |
23.432 |
30.892 |
|
(e) Other
Non-current assets |
1.699 |
1.553 |
1.458 |
|
Total Non-Current
Assets |
88.978 |
95.279 |
107.585 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
78.554 |
66.710 |
69.588 |
|
(c) Trade
receivables |
212.672 |
223.107 |
243.661 |
|
(d) Cash
and cash equivalents |
37.096 |
37.083 |
33.338 |
|
(e)
Short-term loans and advances |
7.229 |
5.540 |
5.504 |
|
(f) Other
current assets |
0.590 |
7.564 |
1.296 |
|
Total
Current Assets |
336.141 |
340.004 |
353.387 |
|
|
|
|
|
|
TOTAL |
425.119 |
435.283 |
460.972 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
986.403 |
986.207 |
1017.630 |
|
|
|
Other Income |
20.289 |
20.828 |
18.830 |
|
|
|
TOTAL (A) |
1006.692 |
1007.035 |
1036.460 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
219.417 |
224.386 |
253.964 |
|
|
|
Purchase of Stock-in-trade |
0.078 |
0.345 |
0.399 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(0.014) |
(0.187) |
(0.256) |
|
|
|
Employee Benefits Expenses |
454.095 |
408.702 |
416.207 |
|
|
|
Other Expenses |
436.247 |
475.251 |
458.603 |
|
|
|
TOTAL (B) |
1109.823 |
1108.497 |
1128.917 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(103.131) |
(101.462) |
(92.457) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
8.016 |
8.154 |
6.084 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
(111.147) |
(109.616) |
(98.541) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
18.334 |
18.641 |
20.106 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
(129.481) |
(128.257) |
(118.647) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
(1.619) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER
TAX (G-H) (I) |
(129.481) |
(128.257) |
(117.028) |
|
|
|
|
|
|
|
|
|
|
IMPORTS – RAW
MATERIALS |
15.965 |
16.500 |
77.371 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(1.06) |
(1.21) |
(1.30) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
(13.13) |
(13.01) |
(11.50) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(10.46) |
(10.29) |
(9.09) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(30.51) |
(29.50) |
(25.77) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.06) |
(1.25) |
(0.91) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.67 |
0.87 |
0.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17 |
1.09 |
1.13 |
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 |
988.576 |
1088.433 |
1238.217 |
|
Reserves & Surplus |
(857.807) |
(986.065) |
(1115.546) |
|
Net
worth |
130.769 |
102.368 |
122.671 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
67.163 |
88.792 |
82.296 |
|
Total
borrowings |
67.163 |
88.792 |
82.296 |
|
Debt/Equity
ratio |
0.514 |
0.867 |
0.671 |
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 |
1017.630 |
986.207 |
986.403 |
|
|
|
(3.088) |
0.020 |
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
|
1017.630 |
986.207 |
986.403 |
|
Profit |
(117.028) |
(128.257) |
(129.481) |
|
|
(11.50%) |
(13.01%) |
(13.13%) |
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 |
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 |
No |
PERFORMANCE
REVIEW
During the financial year 2013-14, the economy was affected by a string of factors, including high inflation, high domestic interest rates, slowing global economy, policy bottlenecks, slowing industrial growth and consequently declining business sentiments. Further, there was a cut in advertising budgets of companies, affecting advertisement revenues which constitute the bulk of our revenues. Advertisement revenue remained stagnant during the year. Newsprint prices and other expenses rose to increased levels, which hit the company’s profitability. Consequently, Company incurred a loss of Rs.129 Millions during the financial year 2013-14.
OUTLOOK
The outlook for the current year continues to be challenging because of global uncertainties, and within India high inflation, policy bottlenecks, high current account deficit consequently depreciating Rupee, high interest rates and lower growth expectations. While the recent improvement of sentiment due to the formation of the new Government is encouraging, it may take some time before we witness the benefits of the improved economy. Advertising revenues are unlikely to improve significantly during this year. Newsprint price, though, have begun to stabilize and will help in keeping losses in control. The Company is expected to make losses in 2014-15.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Loans repayable
on demand from banks |
0.000 |
3.792 |
|
|
|
|
|
Total |
0.000 |
3.792 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10142840 |
04/07/2011 * |
85,000,000.00 |
Development Credit Bank Limited |
301, Delta Plaza, 414, Veer Savarkar Marg, Prabha Devi, Mumbai, Maharashtra - 400025, India |
B17899279 |
|
2 |
90369272 |
23/09/1999 |
3,500,000.00 |
The Great Eastern Shipping Company Limited |
Ocean House, 81 D.N. Road, Mumbai, Maharashtra, India |
- |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
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 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.63.39 |
|
|
1 |
Rs.96.72 |
|
Euro |
1 |
Rs.75.80 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
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.