MIRA INFORM REPORT
|
Report No. : |
330133 |
|
Report Date : |
08.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
STELMEC LIMITED (w.e.f. 17.07.2007) |
|
|
|
|
Formerly Known
As : |
STELMEC PRIVATE LIMITED (w.e.f. 16.08.2005) STELMEC (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Sea Queen 43 A, H K Bhabha Road, Bandstand, Band Stand, Bandra (West),
Mumbai - 400050, Maharashtra |
|
Tel. No.: |
91-22-26436127 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
29.02.2000 |
|
|
|
|
Com. Reg. No.: |
11-124565 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 66.426 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31200MH2000PLC124565 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS47807E |
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|
|
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PAN No.: [Permanent Account No.] |
AAECS5686B |
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|
|
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacture of electrical and switchgear
products such as control and relay panel, outdoor vcb kiosk (dual purpose),
Indoor vaccum circuit breaker panels etc. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
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 |
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|
|
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Litigation : |
Exist |
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|
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Comments : |
Subject is a private limited company incorporated in the year 2000
having satisfactory track. Rating takes into consideration the sound financial risk profile marked
by low gearing and strong net worth base. Further, company has achieved fair
net profit margin in FY 14. Overall financial position of the company is decent. Trade relations are fair. Business is active. Payment terms are reported
to be usually correct. The company can be considered for business dealings with 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.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
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) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. A.K. Mishra |
|
Designation : |
General Manager in Finance |
|
Contact No.: |
91-22-26436127 |
|
Date : |
06.07.2015 |
LOCATIONS
|
Registered Office : |
Sea Queen 43 A, H K Bhabha Road, Bandstand, Band Stand, Bandra (West),
Mumbai - 400050, Maharashtra, India |
|
Tel. No.: |
91-22-26436127 |
|
Fax No.: |
91-22-26436139 |
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E-Mail : |
|
|
Website : |
|
|
|
|
|
Medium Voltage Switchgear Division: |
Ahmedabad-Sanand Road, Ullaria, Taluka Sanand, Ahmedabad-382110,
Gujarat, India |
|
Tel. No.: |
91-2717-237640/329 65556 |
|
Fax No.: |
91-2717-237726 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Located at: Western Region
Southern Region
Northern Region
Eastern Region
|
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mrs. Dolly Hamza Arsiwala |
|
Designation : |
Director |
|
Address : |
Sea Queen 43-A, H. K. Bhabha Road, Bandstand, Bandra (West),
Mumbai-400050, Maharashtra, India |
|
Date of Birth/Age : |
15.11.1958 |
|
Qualifications: |
M.S.C. |
|
Date of Appointment : |
01.03.2005 |
|
DIN No.: |
00378517 |
|
|
|
|
Name : |
Mr. Hamza Esmial Ariswala |
|
Designation : |
Managing Director |
|
Address : |
Sea Queen 43-A, H. K. Bhabha Road, Bandstand, Bandra (West),
Mumbai-400050, Maharashtra, India |
|
Date of Birth/Age : |
17.06.1959 |
|
Qualifications: |
B.E.TEC |
|
Date of Appointment : |
01.03.2005 |
|
PAN No.: |
AAGPA6159C |
|
DIN No.: |
00378521 |
|
|
|
|
Name : |
Mr. Lameeya Hamza Arsiwala |
|
Designation : |
Director |
|
Address : |
Sea Queen 43-A, H. K. Bhabha Road, Bandstand, Bandra (West),
Mumbai-400050, Maharashtra, India |
|
Date of Birth/Age : |
14.10.1988 |
|
Qualifications: |
Bachelor of Media and Communication |
|
Date of Appointment : |
21.07.2008 |
|
DIN No.: |
02264323 |
KEY EXECUTIVES
|
Name : |
Mr. A.K. Mishra |
|
Designation : |
General Manager in Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Hamza |
|
6242833 |
|
Dolly H Arsiwala |
|
2495 |
|
Lameeya H Aesiwala |
|
96460 |
|
Dinesh Salian |
|
80 |
|
Valthaly V Mohan |
|
80 |
|
Paresh Doshi |
|
80 |
|
Poonam M Bhanushali |
|
30 |
|
Neeta P Dama |
|
30 |
|
Suryakant M Vora |
|
30 |
|
Maljil K Bhanushali |
|
180 |
|
Rekha M Bhanushali |
|
180 |
|
Jitendra R Dama |
|
180 |
|
Subhankamna Commercial Private Limited, India |
|
214667 |
|
Shree Sigotar Metalchem Private Limited, India |
|
85333 |
|
|
|
|
|
Total |
|
6642658 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
4.51 |
|
Directors or relatives of Directors |
95.47 |
|
Other top fifty shareholders |
0.02 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacture of electrical and switchgear products
such as control and relay panel, outdoor vcb kiosk (dual purpose), Indoor
vaccum circuit breaker panels etc. |
|
|
|
|
Products : |
Not Divulged |
|
|
|
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
Others |
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Purchasing : |
Others |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged
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Customers : |
End Users
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No. of Employees : |
500 (Approximately) |
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Bankers : |
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||||||||||||||||||||||||
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
O K Malpani and Associates Chartered Accountants |
|
Address : |
B-104, |
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PAN No.: |
AAEPM2399A |
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|
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Memberships : |
-- |
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Collaborators : |
-- |
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|
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs. 70.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6642658 |
Equity Shares |
Rs.10/- each |
Rs. 66.426
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
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 |
66.426 |
65.760 |
65.760 |
|
(b) Reserves & Surplus |
288.996 |
229.479 |
199.803 |
|
(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) |
355.422 |
295.239 |
265.563 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
15.645 |
22.361 |
13.081 |
|
(b) Deferred tax liabilities (Net) |
0.315 |
0.088 |
0.303 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
15.960 |
22.449 |
13.384 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
204.320 |
93.371 |
98.013 |
|
(b) Trade payables |
1038.127 |
814.187 |
654.264 |
|
(c) Other
current liabilities |
64.806 |
63.654 |
49.580 |
|
(d) Short-term
provisions |
12.594 |
9.999 |
5.603 |
|
Total Current
Liabilities (4) |
1319.847 |
981.211 |
807.460 |
|
|
|
|
|
|
TOTAL |
1691.229 |
1298.899 |
1086.407 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
86.056 |
71.867 |
76.008 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.514 |
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 |
15.237 |
22.968 |
19.854 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
101.293 |
95.349 |
95.862 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
192.842 |
215.655 |
152.789 |
|
(c) Trade
receivables |
1138.286 |
828.429 |
687.383 |
|
(d) Cash
and cash equivalents |
160.183 |
106.301 |
111.565 |
|
(e)
Short-term loans and advances |
80.926 |
36.910 |
30.982 |
|
(f) Other
current assets |
17.699 |
16.255 |
7.826 |
|
Total
Current Assets |
1589.936 |
1203.550 |
990.545 |
|
|
|
|
|
|
TOTAL |
1691.229 |
1298.899 |
1086.407 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2895.664 |
2111.207 |
1649.440 |
|
|
|
Other Income |
14.480 |
9.587 |
12.255 |
|
|
|
TOTAL |
2910.144 |
2120.794 |
1661.695 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
2349.794 |
1741.434 |
1357.333 |
|
|
|
Employees benefits expense |
147.637 |
104.161 |
78.011 |
|
|
|
Other expenses |
287.999 |
185.285 |
155.025 |
|
|
|
TOTAL |
2785.430 |
2030.880 |
1590.369 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
124.714 |
89.914 |
71.326 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
31.889 |
29.906 |
23.580 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
92.825 |
60.008 |
47.746 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
11.675 |
11.228 |
11.618 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
81.150 |
48.780 |
36.128 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
27.653 |
16.689 |
12.806 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
53.497 |
32.091 |
23.322 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
19.110 |
9.451 |
2.174 |
|
|
TOTAL IMPORTS |
19.110 |
9.451 |
2.174 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.05 |
4.83 |
3.51 |
|
Expected Sales (2014-15): Rs. 3000.000 Million
The above information has been parted by Mr. A.K. Mishra (General Manager Finance)
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operation |
(85.412) |
17.017 |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.85 |
1.52 |
1.41 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
4.31 |
4.26 |
4.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.80 |
3.76 |
3.33 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.17 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.62 |
0.39 |
0.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20 |
1.23 |
1.23 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
65.760 |
65.760 |
66.426 |
|
Reserves & Surplus |
199.803 |
229.479 |
288.996 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
265.563 |
295.239 |
355.422 |
|
|
|
|
|
|
long-term borrowings |
13.081 |
22.361 |
15.645 |
|
Short term borrowings |
98.013 |
93.371 |
204.320 |
|
Current Maturities of Long
Term Debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
111.094 |
115.732 |
219.965 |
|
Debt/Equity
ratio |
0.418 |
0.392 |
0.619 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1649.440 |
2111.207 |
2895.664 |
|
|
|
27.995 |
37.157 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1649.440 |
2111.207 |
2895.664 |
|
Profit |
23.322 |
32.091 |
53.497 |
|
|
1.41% |
1.52% |
1.85% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
---- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
---- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
---- |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter involved
in |
Yes |
|
33 |
Market information |
---- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date:- 24/12/2013 |
|
|
|
Main
Matter Reg. No.:- CP/190/2015
Reg. Date :- 04/03/2015 |
|
Petitioner: INTER GLOBE AIR EXPRESS- Respondent:
STELMEC LIMITED
(CINU31200MH2000PLC124565)
Petn. Adv : MADHAV JAYAJIRAI JAMDAR (I3208) District: MUMBAI |
|
Status: PRE-ADMISSION
Category: COMPANY PETITION U/SEC 433, 434,
Next Date: 09/03/2015 Stage:
FOR ACCEPTANCE Last Coram: HON’BLE SHRI JUSTICE S.J. KATHAWALLA |
|
Act: Companies Act and Rules 1956 UNDER SECTION: 433 (E) 434 |
CORPORATE INFORMATION
Stelmec Limited (the Company) was originally incorporated on 29/02/2000 as a Private Limited Company under Companies Act, 1956. In the name and style of Stelmec (India) Private Limited. Subsequently, the name of the Company was changed to Stelmec Private Limited with effect from 16th August, 2005. Thereafter the name of the Company was changed to its present name STELMEC LIMITED on account of its conversion to Public Limited Company with effect from 17/07/2007. The Company is mainly engaged in manufacture of electrical and switchgear products. The Company’s registered office and principal place of business is situated at 43-A, Sea Queen, H.K. Bhabha Road , Bandstand, Bandra (West), Mumbai – 400050.
UNSECURED LOAN
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Working capital loans from banks |
1.574 |
6.232 |
|
Loans and advances from related parties |
12.252 |
13.895 |
|
SHORT TERM
BORROWING |
|
|
|
Borrowings |
56.583 |
48.835 |
|
Total |
70.409 |
68.962 |
|
|
|
|
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10481621 |
24/02/2014 |
240,000,000.00 |
BANK OF BARODA |
Meghdoot, Junction
of Turner Road & Linking Road, INDIA |
B98063191 |
|
2 |
10475821 |
19/12/2013 |
732,000.00 |
Canara Bank |
81, Milagres House, Bandra (W), Mumbai, Maharashtra - 400050, INDIA |
B95581070 |
|
3 |
10052870 |
20/08/2013 * |
1,169,000,000.00 |
Canara Bank |
Bandra (W) Branch,
Mumbai, Maharashtra - 400050, |
B84774348 |
|
4 |
10036106 |
15/01/2007 |
8,700,000.00 |
CANARA BANK |
BANDRA WEST BRANCH, MUMBAI, Maharashtra -
400050, |
A10229177 |
|
5 |
10008563 |
07/06/2006 |
60,000,000.00 |
CANARA BANK |
50, HILL ROAD, BANDRA WEST MUMBAI, MUMBAI, Maharashtra - 400050, INDIA |
A02039808 |
|
6 |
90154741 |
04/12/2004 |
24,000,000.00 |
CANARA BANK |
BANDRA, MUMBAI, Maharashtra, INDIA |
- |
|
7 |
90154731 |
22/05/2004 |
2,955,000.00 |
CANARA BANK |
BANDRA, MUMBAI, Maharashtra, INDIA |
- |
|
8 |
90154712 |
04/12/2004 * |
5,000,000.00 |
CANARA BANK |
BANDRA, MUMBAI, Maharashtra, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and
Equipments
- Furniture and
Fixture
- Vehicles
- Office
Equipments
- Computer
Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No 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. 63.37 |
|
UK Pound |
1 |
Rs. 98.86 |
|
Euro |
1 |
Rs. 69.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--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 |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.