MIRA INFORM REPORT
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Report No. : |
304913 |
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Report Date : |
27.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
WELSPUN ENERGY PRIVATE LIMITED (w.e.f. 19.03.2014) |
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Formerly Known
As : |
WELSPUN ENERGY LIMITED (w.e.f. 11.03.2008) WELSPUN ENERGY PRIVATE LIMITED (w.e.f.28.07.2006) PRANAM TRADELINK PRIVATE LIMITED |
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Registered
Office : |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
19.08.2002 |
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Com. Reg. No.: |
04-041136 |
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Capital
Investment / Paid-up Capital : |
Rs.3349.595 Millions |
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CIN No.: [Company Identification
No.] |
U51909GJ2002PTC041136 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
They are into power Generations (Solar and Thermal Power) |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
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MIRA’s Rating : |
A (63) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of Welspun Corporation Limited. It is an established
company having good track record. As per ROC the date of balance sheet (i.e. financial filed) is shown as
31-03-2014 but the documents related to the financial for the year 2014 are
not available from any sources. As per available financial of 2013, the company has recorded a
significant growth in its sales turnover and profitability. The rating also derived strength from promoter’s resourcefulness and
long standing experience in the industry. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered for normal 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 |
CARE |
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Rating |
Long term bank facilities=A+ |
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Rating Explanation |
Adequate degree of safety and carry low
credit risk. |
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Date |
25.07.2014 |
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Rating Agency Name |
CARE |
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Rating |
Short term bank facilities=A1 |
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Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
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Date |
25.07.2014 |
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 DENIED BY
|
Name : |
Mr. Satish Sharma |
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Designation : |
Accounts Officer |
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Contact No.: |
91-9892703663 |
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Date : |
23.01.2015 |
LOCATIONS
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Registered Office / Works : |
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Tel. No.: |
91-2836-279051/ 2/ 5/ 6 |
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Mobile No.: |
91-9892703663 (Mr. Satish Sharma) |
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Fax No.: |
91-2836-279051/ 050 |
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E-Mail : |
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Website : |
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Corporate Office : |
3rd Floor, Press Trust of |
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Tel. No.: |
91-11-66034600 / 66034627 |
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Fax No.: |
91-11-66273090 |
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Branch Office: |
Kishan Colony, Near Kanasar Choroaha, BAP, Phlodi (OSIAN), Jodhpur,
Rajasthan, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Vineet Rajkumar Mittal |
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Designation : |
Managing Director |
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Address : |
101, Sagar Sangeet, Juhu, Opposite Juhu Post Office, Mumbai - 400049,
Maharashtra, India |
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Date of Birth/Age : |
05.09.1974 |
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Date of Appointment : |
10.02.2010 |
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DIN No.: |
00058552 |
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Name : |
Mr. Rajesh Rameshkumar Mandawewala |
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Designation : |
Director |
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Address : |
161/171-B, Tanna Residency, Bay View, Opposite Sidhivinayak Temple,
Prabhadevi, Mumbai - 400025, Maharashtra, India |
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Date of Birth/Age : |
05.05.1962 |
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Date of Appointment : |
15.05.2012 |
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DIN No.: |
00007179 |
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Name : |
Mr. Atul Manubhai Desai |
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Designation : |
Director |
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Address : |
C/62, Vellard View, 14, Tardeo Road, Haji Ali, Mumbai - 400034,
Maharashtra, India |
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Date of Birth/Age : |
27.06.1950 |
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Date of Appointment : |
22.01.2014 |
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DIN No.: |
00019443 |
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Name : |
Mr. Ram Gopal Sharma |
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Designation : |
Director |
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Address : |
E 707 Lok Sarita, Military Road,, Marol, Andheri (East), Mumbai -
400059, Maharashtra, India |
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Date of Birth/Age : |
11.11.1940 |
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Date of Appointment : |
10.06.2014 |
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DIN No.: |
00026514 |
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Name : |
Mr. Apurba Kumar Dasgupta |
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Designation : |
Director |
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Address : |
Bunglow No. 10, Ipshita, Dreamland Coop. Society, Near Diamond
Gardens, Aloycious Soares Marg, Mumbai -
400071, Maharashtra, India |
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Date of Birth/Age : |
02.04.1935 |
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Date of Appointment : |
22.01.2014 |
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DIN No.: |
00043075 |
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Name : |
Mr. Balkrishan Gopiram Goenka |
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Designation : |
Director |
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Address : |
Rocky Isle 46/C, B, Desai Raod, Breachcandy, Mumbai - 400026, Maharashtra,
India |
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Date of Birth/Age : |
15.08.1966 |
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Date of Appointment : |
10.02.2010 |
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DIN No.: |
00270175 |
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Name : |
Mr. Sindoor Vineet Mittal |
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Designation : |
Whole-time Director |
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Address : |
701, Shubham, Gandhidham Road, Juhu, Mumbai - 400049, Maharashtra,
India |
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Date of Birth/Age : |
28.03.1983 |
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Date of Appointment : |
01.04.2011 |
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DIN No.: |
00292184 |
KEY EXECUTIVES
|
Name : |
Mr. Satish Sharma |
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Designation : |
Accounts Officer |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Equity Shareholders |
No. of Shares |
|
Welspun Enterprises Limited |
60493342 |
|
Krishiraj Trading Limited |
112821704 |
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Candor Power Private Limited |
67688672 |
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Mr. Vineet Mittal |
5240304 |
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Welspun Fintrade Private Limited |
26992298 |
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Welspun Mercantile Limited |
2489534 |
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Welspun Wintex Limited |
2326667 |
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Mr. B. K. Goenka |
604933 |
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Bhadrawati Ispat & Energy Limited |
24936356 |
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Total |
303593810 |
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Names of Preference Shareholders |
No. of Shares |
|
Candor Power Private Limited |
63626146 |
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Bhadrawati Ispat & Energy Limited |
60849921 |
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Mr. Vineet Mittal |
12172503 |
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Total |
136648570 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
98.07 |
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Directors or relatives of Directors |
1.93 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
They are into power Generations (Solar and Thermal Power) |
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Products / Services : |
Power Generations |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
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 : |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sureka Associates Chartered Accountants |
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Address : |
45C, Mandhana Manor, |
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Tel. No.: |
91-22-24306150/ 24327608 |
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Fax No.: |
91-22-24327608 |
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E-Mail : |
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PAN No.: |
AAMFS8201P |
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Membership : |
-- |
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Associates : |
· Welspun Corp limited (WCL) · Krishiraj Trading Limited (KTL) · Solarsys Non-conventional Energy Private Limited (SREPL) · MI Mysolar 24 Private Limited (MMPL) · Dreisatz Mysolar 24 Private Limited (DMSPL) · Unity Power Private Limited (UPPL) |
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Subsidiaries : |
· Welspun Energy Madhya Pradesh Limited · Welspun Energy Anuppur Private Limited · Welspun Renewables Energy Limited · Welspun Energy Up Private Limited · Welspun Energy Chhattisgarh Limited · Welspun Solar AP Private Limited · Welspun Urja Gujarat Private Limited · Welspun Urja India Limited · Welspun Solar Madhya Pradesh Private Limited · Welspun Solar Rajasthan Private Limited · Welspun Solar Punjab Private Limited · Welspun Solar UP Private Limited(WSUPPL) · Welspun Energy Maharashtra Private Limited · Solarsys Non-conventional Energy Private Limited · Welspun Energy Rajasthan Private Limited · Welspun Solar Kannada Private Limited · Solarsys Energy Private Limited · Welspun Energy Resources Private Limited · Welspun Energy Park Private Limited · Welspun Solar Tech Private Limited · Welspun Energy Jharkhand Private Limited · Welspun Energy Orissa Private Limited · Solarsys Renewables Energy Private Limited · Dreisatz Mysolar 24 Private Limited · Northwest Energy Private Limited · SUIL Hydro Power Private Limited · Welspun Renewables (Singapore) Private Limited · Welspun Energy Japan K. K. |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
340000000 |
Equity Shares |
Rs.10/- each |
Rs.3400.000 Millions |
|
160000000 |
Preference Shares |
Rs.10/- each |
Rs.1600.000 Millions |
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|
|
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Total |
|
Rs.5000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
303593810 |
Equity Shares |
Rs.10/- each |
Rs.3035.938 Millions |
|
136648570 |
Preference Shares |
Rs.10/- each |
Rs.1366.486 Millions |
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|
|
|
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Total |
|
Rs.4402.424
Millions |
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
340000000 |
Equity Shares |
Rs.10/- each |
Rs.3400.000 Millions |
|
160000000 |
Preference Shares |
Rs.10/- each |
Rs.1600.000 Millions |
|
|
|
|
|
|
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Total |
|
Rs.5000.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
240628470 |
Equity Shares |
Rs.10/- each |
Rs.2406.285 Millions |
|
62965332 |
Equity Shares |
Rs.3/- each |
Rs.188.896 Millions |
|
153648570 |
1% Optionally Convertible Preference Shares |
Rs.4.91/- each |
Rs.754.414 Millions |
|
|
|
|
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|
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Total |
|
Rs.3349.595
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 |
3349.595 |
673.666 |
10.500 |
|
(b) Reserves & Surplus |
1758.256 |
367.155 |
0.065 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
2489.307 |
664.000 |
|
Total
Shareholders’ Funds (1) + (2) |
5107.851 |
3530.128 |
674.565 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2750.000 |
971.000 |
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 |
12.961 |
6.903 |
1.911 |
|
Total Non-current
Liabilities (3) |
2762.961 |
977.903 |
1.911 |
|
|
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|
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|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
76.371 |
130.048 |
0.000 |
|
(b) Trade
payables |
3024.988 |
6.307 |
0.209 |
|
(c) Other
current liabilities |
2545.828 |
52.925 |
10.054 |
|
(d) Short-term
provisions |
1.638 |
2.495 |
2.473 |
|
Total Current
Liabilities (4) |
5648.825 |
191.775 |
12.736 |
|
|
|
|
|
|
TOTAL |
13519.637 |
4699.806 |
689.212 |
|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
52.753 |
54.182 |
10.503 |
|
(ii)
Intangible Assets |
2.238 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
6.634 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
3104.665 |
1999.150 |
30.495 |
|
(c) Deferred tax assets (net) |
0.176 |
0.464 |
0.202 |
|
(d) Long-term Loan and Advances |
4142.582 |
2279.083 |
261.565 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
7302.414 |
4332.879 |
309.399 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
39.368 |
0.000 |
0.000 |
|
(b)
Inventories |
820.372 |
0.000 |
0.000 |
|
(c) Trade
receivables |
2273.180 |
12.691 |
0.000 |
|
(d) Cash
and cash equivalents |
318.713 |
66.156 |
14.658 |
|
(e)
Short-term loans and advances |
2753.159 |
26.047 |
178.630 |
|
(f) Other current
assets |
12.431 |
262.033 |
186.525 |
|
Total
Current Assets |
6217.223 |
366.927 |
379.813 |
|
|
|
|
|
|
TOTAL |
13519.637 |
4699.806 |
689.212 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6119.046 |
440.789 |
186.075 |
|
|
|
Other Income |
29.208 |
5.197 |
0.515 |
|
|
|
TOTAL |
6148.254 |
445.986 |
186.590 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods & services under EPC contract |
4517.902 |
200.028 |
0.000 |
|
|
|
Employee benefit expenses |
553.034 |
61.809 |
100.579 |
|
|
|
Other Expenses |
163.875 |
105.337 |
79.164 |
|
|
|
TOTAL |
5234.811 |
367.174 |
179.743 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
913.443 |
78.812 |
6.847 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
287.801 |
16.287 |
6.387 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
625.642 |
62.525 |
0.460 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
5.618 |
2.211 |
0.461 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
620.024 |
60.314 |
(0.001) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
199.143 |
18.262 |
(0.160) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX |
420.881 |
42.052 |
0.159 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
42.117 |
0.065 |
(0.094) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
462.998 |
42.117 |
0.065 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Purchase of Imported Material |
4794.848 |
0.000 |
0.000 |
|
|
|
Office Equipment |
0.000 |
1.068 |
0.442 |
|
|
TOTAL IMPORTS |
4794.818 |
1.068 |
0.442 |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (Rs.) |
2.05 |
34.16 |
0.15 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin PAT / Sales |
(%) |
6.88 |
9.54 |
0.09 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
14.93 |
17.88 |
3.68 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.95 |
2.23 |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.02 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.55 |
0.31 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10 |
1.91 |
29.82 |
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 |
10.500 |
673.666 |
3349.595 |
|
Reserves & Surplus |
0.065 |
367.155 |
1758.256 |
|
Share Application money pending allotment |
664.000 |
2489.307 |
0.000 |
|
Net
worth |
674.565 |
3530.128 |
5107.851 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
971.000 |
2750.000 |
|
Short term borrowings |
0.000 |
130.048 |
76.371 |
|
Total
borrowings |
0.000 |
1101.048 |
2826.371 |
|
Debt/Equity
ratio |
0.000 |
0.312 |
0.553 |
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 |
186.075 |
440.789 |
6119.046 |
|
|
|
136.888 |
1,288.203 |
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
|
186.075 |
440.789 |
6119.046 |
|
Profit |
0.159 |
42.052 |
420.881 |
|
|
0.09% |
9.54% |
6.88% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Millions
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long term debt |
250.000 |
0.000 |
0.000 |
|
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:
The Registered Office of the company has been shifted from N-4, Dikshanti
Apartment, Near Malav Talav, Near Devas Flats, Jivrajpurak, Ahmedabad, Gujarat,
India, to the present address w.e.f. 31.07.2006.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10538981 |
09/10/2014 |
1,000,000,000.00 |
Yes Bank Limited |
Nehru Centre, 9th Floor, Discovery of India,, Dr. A.B. Road, Worli, Mumbai, Maharashtra - 400018, India |
C38268850 |
|
2 |
10495228 |
22/04/2014 |
1,000,000,000.00 |
Yes Bank Limited |
9th Flr, Nehru Centre,, Discovery Of India, Annie Besant Road, Mumbai, Maharashtra - 400018, India |
C04659116 |
|
3 |
10457492 |
27/09/2013 |
2,000,000,000.00 |
Central Bank of India |
Mmo Building, First Floor,, M. G. Road, Fort, Mumbai, Maharashtra - 400023, India |
B88471479 |
|
4 |
10389648 |
29/10/2012 |
1,000,000,000.00 |
IDBI Bank Limited |
IDBI Towerwtc Complex, Cuffe Parade, Mumbai, Maharashtra - 400005, India |
B63137129 |
|
5 |
10382556 |
28/09/2012 |
1,000,000,000.00 |
Aditya Birla Finance Limited |
Indian
Rayon Compound,, Veraval, Gujarat - 362266, |
B60390960 |
*Date of modification Charges
FIXED ASSETS:
·
Building and Improvements
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Software
·
Elevator
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.61.50 |
|
|
1 |
Rs.92.16 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILITY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
63 |
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.