MIRA INFORM REPORT
|
Report No. : |
303746 |
|
Report Date : |
21.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHRI RATHI STEEL (DAKSHIN) LIMITED (w.e.f. 30.06.2008) |
|
|
|
|
Formerly Known
As : |
SHRI RATHI STEEL (DAKSHIN) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Flat J-1/202, DDA Flats, Kalka JI, New Delhi - 110019 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
13.11.1992 |
|
|
|
|
Com. Reg. No.: |
55-050960 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.29.279
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1992PLC050960 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of TMT bars. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Financial position of the company seems to be decent. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. The company can be considered for normal business dealings at usual
trade terms and conditions. Note: The partial information taken from other sources i.e. ICRA |
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
|
Rating Agency Name |
ICRA |
|
Rating |
Working capital Limited: BBB |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
September 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
LC/BG Limits: A3+ |
|
Rating Explanation |
Have moderate degree of safety and carry higher credit risk. |
|
Date |
September 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. Anoop Dubey |
|
Designation : |
Maintenance Manager |
|
Contact No.: |
91-9828054032 |
|
Date : |
19.01.2015 |
LOCATIONS
|
Registered Office : |
Flat J-1/202, DDA Flats, Kalka JI, New Delhi – 110019, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9828054032 (Mr. Anoop Dubey) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Corporate Office |
A-29, Sector-65, Noida, |
|
Tel. No.: |
91-120-4744644 |
|
|
|
|
Factory 1 : |
SP-A-1, RIICO Industrial Area, Khushkhera, Bhiwadi, District |
|
Tel. No.: |
91-1493-250537, 517560/ 63 |
|
Fax No.: |
91-1493-250536 |
|
E-Mail : |
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|
|
|
Factory 2 : |
|
|
|
|
|
Factory 3 : |
Ground Floor, Near Ishra Hotel, Kapashera |
DIRECTORS
As on 06.09.2014
|
Name : |
Mr. Gopal Anil Rathi |
|
Designation : |
Director |
|
Address : |
24, Sadhna Enclave, |
|
Date of Birth/Age : |
26.05.1981 |
|
Date of Appointment : |
30.09.2004 |
|
DIN No.: |
00072755 |
|
PAN No.: |
ADKPR0765L |
|
|
|
|
Name : |
Mr. Anil Kumar Gordhan Das Rathi |
|
Designation : |
Director |
|
Address : |
24, Sadhna Enclave, |
|
Date of Birth/Age : |
28.12.1955 |
|
Date of Appointment : |
30.09.2004 |
|
DIN No.: |
00072761 |
|
PAN No.: |
AAEPR4232R |
|
|
|
|
Name : |
Mr. Dhruv Anil Rathi |
|
Designation : |
Director |
|
Address : |
24, Sadhna Enclave, |
|
Date of Birth/Age : |
29.08.1982 |
|
Date of Appointment : |
30.09.2004 |
|
DIN No.: |
00072762 |
|
PAN No.: |
ADUPR1453K |
|
|
|
|
Name : |
Mr. Ajay Kumar Malhotra |
|
Designation : |
Director |
|
Address : |
2/131, UIT
Colony , VPO Bhiwadi DT, Alwar – 301 019, |
|
Date of Birth/Age : |
28.08.1962 |
|
Date of Appointment : |
21.08.2007 |
|
DIN No.: |
01795461 |
KEY EXECUTIVES
|
Name : |
Mr. Anoop Dubey |
|
Designation : |
Maintenance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 06.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Anil Rathi |
|
20900 |
|
Anil Rathi (HUF) |
|
24000 |
|
Gopal Rathi |
|
113700 |
|
Dhruv Rathi |
|
75800 |
|
Urmil Rathi |
|
282500 |
|
Shweta Rathi |
|
12000 |
|
Anchal Rathi |
|
12000 |
|
Asimit Exports (Private) Limited, |
|
77000 |
|
K.C.M. Leasing and Finance (Private) Limited, |
|
171000 |
|
Shri Sindhuswarna Investments (Private) Limited, |
|
219200 |
|
Murli Manohar Trade (Private) Limited, |
|
589000 |
|
Radhey Tradelink (Private) Limited, |
|
697760 |
|
Neelkanth Tradelink (Private) Limited, |
|
633000 |
|
Total |
|
2927860 |
Equity Share Break up (Percentage of Total Equity)
As on 06.09.2014
|
Category |
Percentage |
|
Bodies corporate |
81.05 |
|
Directors or relatives of Directors |
18.95 |
|
Total |
100.00 |
%20LIMITED%20%20-%20303746%2021-Jan-2015_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of TMT bars. |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
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|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
2010-11 |
|
Installed Capacity |
Metric Tons |
1,20,000 |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
A . K . Maheshwari and Associates Chartered Accountants |
|
Address : |
Suite # 4g, Uppals' M6 Plazajasola District Centre, Jasola, New Delhi- 110025, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AYDPM1409J |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates: |
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2927860 |
Equity Shares |
Rs.10/- each |
Rs.29.279
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
29.279 |
29.279 |
29.279 |
|
(b) Reserves & Surplus |
175.042 |
151.273 |
132.705 |
|
(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) |
204.321 |
180.552 |
161.984 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
113.053 |
154.168 |
152.933 |
|
(b) Deferred tax liabilities
(Net) |
18.899 |
16.312 |
12.299 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.350 |
0.787 |
|
Total
Non-current Liabilities (3) |
131.952 |
170.830 |
166.019 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
93.777 |
189.735 |
191.701 |
|
(b) Trade payables |
459.031 |
276.530 |
226.271 |
|
(c) Other current liabilities |
73.302 |
70.372 |
85.234 |
|
(d) Short-term provisions |
12.724 |
11.912 |
13.229 |
|
Total
Current Liabilities (4) |
638.834 |
548.549 |
516.435 |
|
|
|
|
|
|
TOTAL |
975.107 |
899.931 |
844.438 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
202.203 |
188.862 |
182.001 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
7.133 |
5.987 |
12.680 |
|
(e) Other Non-current assets |
3.905 |
2.174 |
4.333 |
|
Total
Non-Current Assets |
213.241 |
197.023 |
199.014 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
250.319 |
167.526 |
151.383 |
|
(c) Trade receivables |
456.742 |
461.208 |
419.054 |
|
(d) Cash and cash equivalents |
21.554 |
18.886 |
20.094 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
33.251 |
55.288 |
54.893 |
|
Total
Current Assets |
761.866 |
702.908 |
645.424 |
|
|
|
|
|
|
TOTAL |
975.107 |
899.931 |
844.438 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
5074.136 |
4375.266 |
3331.916 |
|
|
Other Income |
3.947 |
13.047 |
1.683 |
|
|
TOTAL
(A) |
5078.083 |
4388.313 |
3333.599 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
4175.888 |
3759.070 |
2483.063 |
|
|
Purchases of Stock-in-Trade |
466.932 |
292.096 |
534.108 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
5.180 |
(49.570) |
44.620 |
|
|
Employees benefits expense |
41.015 |
37.885 |
30.106 |
|
|
Other expenses |
285.155 |
243.462 |
151.680 |
|
|
Prior period items |
0.113 |
0.026 |
0.000 |
|
|
Exceptional items |
4.834 |
8.738 |
0.123 |
|
|
TOTAL
(B) |
4979.117 |
4291.707 |
3243.700 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
98.966 |
96.606 |
89.899 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
22.042 |
27.906 |
29.558 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
76.924 |
68.700 |
60.341 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
34.354 |
31.549 |
30.084 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
42.570 |
37.151 |
30.257 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
11.996 |
11.777 |
9.431 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
30.574 |
25.374 |
20.826 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
42.367 |
26.299 |
14.851 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
2.500 |
2.500 |
2.500 |
|
|
Interim Dividend |
2.928 |
2.928 |
0.000 |
|
|
Proposed Dividend |
2.928 |
2.928 |
5.914 |
|
|
Dividend Distribution Tax |
0.950 |
0.950 |
0.964 |
|
|
Balance
Carried to the B/S |
63.635 |
42.367 |
26.299 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Other |
188.438 |
128.094 |
10.346 |
|
|
Stores |
0.000 |
0.000 |
0.546 |
|
|
TOTAL
IMPORTS |
188.438 |
128.094 |
10.892 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
10.44 |
8.67 |
7.11 |
|
Particulars |
31.03.2014 |
|
|
|
|
OPERATING INCOME |
4936.000 |
|
|
|
|
PROFIT AFTER TAX |
25.000 |
Note: Above information
has been taken from indirect source i.e ICRA
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.60 |
0.58 |
0.63 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
1.95 |
2.21 |
2.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.37 |
4.13 |
3.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.21 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.01 |
1.90 |
2.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19 |
1.28 |
1.25 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
29.279 |
29.279 |
29.279 |
|
Reserves & Surplus |
132.705 |
151.273 |
175.042 |
|
Net
worth |
161.984 |
180.552 |
204.321 |
|
|
|
|
|
|
long-term borrowings |
152.933 |
154.168 |
113.053 |
|
Short term borrowings |
191.701 |
189.735 |
93.777 |
|
Total
borrowings |
344.634 |
343.903 |
206.830 |
|
Debt/Equity
ratio |
2.128 |
1.905 |
1.012 |
%20LIMITED%20%20-%20303746%2021-Jan-2015_files/image004.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3331.916 |
4375.266 |
5074.136 |
|
|
|
31.314 |
15.973 |
%20LIMITED%20%20-%20303746%2021-Jan-2015_files/image006.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3331.916 |
4375.266 |
5074.136 |
|
Profit |
20.826 |
25.374 |
30.574 |
|
|
0.63% |
0.58% |
0.60% |
%20LIMITED%20%20-%20303746%2021-Jan-2015_files/image008.gif)
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 |
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 |
-- |
|
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 |
No |
|
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 |
NOTE: Registered office of the company has been shifted from F-55D, GTB Enclave, Delhi – 110 093, India to the present address.
BUSINESS OPERATIONS
OVERVIEW AND OUTLOOK:
During the year, turnover achieved was higher by 15.97% from Rs. 4375.200 Millions to Rs. 5074.100 Millions during 2012-13, owing to diversified product portfolio and wider market reach. Operating profit (profit before tax) has also increased by 13.03% from Rs. 36.873 Millions to Rs. 41.678 Millions during the year under reference.
The Directors remain confident that strong demand across various housing standards and tremendous demand from infrastructure sector would keep driving future of the sector, in which the company operates and we shall remain motivated to scale up for growth and minimize cost for higher profits.
Company efforts to create niche identity for self among industry have been well received in the market. Privately held brands namely Eurotherm 500, and Eurotherm 500+, co used by us with our Associate Company and Mera Steel, a customized product for end users, is well acknowledged in the market.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from others |
0.253 |
0.398 |
|
Other loans and advances, others |
81.978 |
110.938 |
|
Total |
82.231 |
111.336 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10427007 |
15/05/2013 |
2,030,000.00 |
AXIS BANK LIMITED |
TRISHUL 3RD FLOOR
OPP SAMARTHESHWAR TEMPLE, LAW G |
B75583138 |
|
2 |
10396196 |
04/01/2013 |
368,300,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN
BHAVAN, 227,D,, NARIMAN POINT,, M |
B65601890 |
|
3 |
10398388 |
11/02/2014 * |
388,300,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN
BHAVAN, 227,D, NARIMAN POINT,, M |
C00513804 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
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 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.61.85 |
|
|
1 |
Rs.93.27 |
|
Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
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 |
|
49 |
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.