MIRA INFORM REPORT
|
Report No. : |
331272 |
|
Report Date : |
13.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
SCAN ENERGY AND POWER LIMITED |
|
|
|
|
Registered
Office : |
Flat No. 202, C – I, Kedar Gouri Apartment, Bhubaneswar – 751002,
Orissa |
|
Tel. No.: |
91-6674-2726237 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
15.02.2007 |
|
|
|
|
Com. Reg. No.: |
15-009177 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 442.085 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27102OR2007PLC009177 |
|
|
|
|
IEC No.: |
2310001899 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAMCS1851L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Seller of MS Ingot / Billet and MS Rod. |
|
|
|
|
No. of Employees
: |
Not Available |
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 1950000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Scan Group. It is an established company having
moderate track. Rating considers company’s moderate financial risk profile marked by
leveraged capital structure. Further rating constraints on account of continuous losses incurred by
company from its operations. However, trade relations are. Business is active. Payment terms are
slow but correct. 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 – 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 |
CRISIL |
|
Rating |
Long term rating = (B) |
|
Rating Explanation |
Risk Prone-credit-quality and carries very
high credit risk |
|
Date |
02.04.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = (A4) |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
02.04.2014 |
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
31-03-2013.
LOCATIONS
|
Registered Office : |
Flat No. 202, C – I, Kedar Gouri Apartment, Bhubaneswar – 751002,
Orissa, India |
|
Tel. No.: |
91-6674-2726237/ 2726438 |
|
Fax No.: |
91-6674-2725158 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
Corporate Office:
|
Office No – 104,105, E – Square, Subhash Road, Oppsite Havmore Ice Cream, Vile Parle (East), Mumbai – 400057, Maharashtra, India |
|
|
|
|
Factory 1 : |
Ramabahal, Rajgangpur, District Sundargarh, Odisha, Maharashtra, India |
|
Tel. No.: |
91-6624 – 280327 / 280328 |
|
Fax No.: |
91-6624-280326 |
|
|
|
|
Factory 2 : |
Budhakata, Po. Biringatoli, District Sundargarh, Odisha, India |
|
|
|
|
Factory 3 : |
Bai – Bai, Bargaon, District Sundargarh, Odisha, India |
|
|
|
|
Factory 4 : |
Survey No.285 B-1-285, B-2-286B, 400-A-2Haraginadoni Road,Veniveerapur Village, Bellary – 583115, Karnataka, India |
|
|
|
|
Factory 5 : |
Mahboob Nagar, Village Kundurg, Talug, Shadnagar District Paradise Colony, Pargi Road, Survey 34-36, Hyderabad – 509207, Andhra Pradesh, India |
DIRECTORS
AS ON 29.09.2014
|
Name : |
Mr. Rajesh Kumar Gadodia |
|
Designation : |
Managing Director |
|
Address : |
Main Road, Rajgangpur, Sundergarh-770017, Odisha, India |
|
Date of Birth/Age : |
03.03.1969 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
21.02.2007 |
|
PAN No.: |
ABRPG2112K |
|
DIN No.: |
00574465 |
|
|
|
|
Name : |
Mr. Nimish Gadodia |
|
Designation : |
Director |
|
Address : |
Main Road, Rajgangpur, Sundergarh-770017, Odisha, India |
|
Date of Birth/Age : |
27.12.1973 |
|
Qualification : |
MBA |
|
Date of Appointment : |
21.02.2007 |
|
PAN No.: |
AATPG1117D |
|
DIN No.: |
01258815 |
|
|
|
|
Name : |
Mr. Ajit Kumar Keshri |
|
Designation : |
Director |
|
Address : |
Flat No. 109, Rajendra Vihar Block-A, forest Park, Bhubaneswar,
Khurda-751009, Odisha, India |
|
Date of Birth/Age : |
13.03.1976 |
|
Qualification : |
MBA |
|
Date of Appointment : |
15.02.2007 |
|
DIN No.: |
02401536 |
KEY EXECUTIVES
|
Name : |
Mr. Prakash Chhajer |
|
Designation : |
Secretary |
|
Address : |
493/B/3 G T Road, South 7th Floor, Shibpur, Howrah-711102,
West Bengal, India |
|
Date of Birth/Age : |
28.08.1982 |
|
Date of Appointment : |
21.02.2011 |
|
PAN No.: |
AGSPC6892J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2014
|
Names of Shareholders |
No. of Shares |
|
Rajesh Gadodia |
2790750 |
|
Nimish Gadodia |
2265000 |
|
Ajit Keshri |
10 |
|
Prabir Kumar Das |
10 |
|
Deba Prasad Mishra |
10 |
|
Rama Krishna Biswal |
3210 |
|
Hemanta Kedia |
10 |
|
Sawar Mal Gadodia |
32000 |
|
Fanidra Kumar Nayak |
3200 |
|
Sunil Singh |
3200 |
|
Bayanwala Brothers Private Limited, India |
6125000 |
|
Gopikar Supply Private Limited, India |
18005540 |
|
Artline Commerce Private Limited, India |
1125000 |
|
Jamshedpur Securities Limited, India |
8500000 |
|
Ascon Merchandise Private Limited, India |
1727770 |
|
Consolidated Mercantiles Private Limited, India |
1277770 |
|
Archana Gadodia |
1150000 |
|
Binita Gadodia |
1200000 |
|
Slick Vyapaar Private Limited, India |
194444 |
|
Manjit Manajement Services Private Limited, India |
194444 |
|
Topgrain Barter Private Limited, India |
138888 |
|
Apex Real Estate Private Limited, India |
3000000 |
|
|
|
|
Total |
47736256 |
AS ON 29.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
84.40 |
|
Directors
or relatives of directors |
15.58 |
|
Other
top fifty shareholders |
0.02 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of MS Ingot / Billet and MS Rod. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
-- |
|
|
|
|
Imports : |
-- |
|
|
|
|
Terms : |
-- |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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|||||||||||||||||||||||||||
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Bankers : |
·
Allahabad Bank, Rourkela Branch, Main Road,
Rourkela - 769001, Orissa, India · Oriental Bank Of Commerce |
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S R B and Associates Chartered Accountants |
|
Address : |
5Th Floor, IDCO Tower Janapath, Bhubaneswar –
751022, Odisha, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAXFS6281Q |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Group Companies : |
· Scan Steels Limited (U27106OR1990PLC002685) · Nav Durga Fuels Private Limited · Embtee Iron and Steel Private Limited |
CAPITAL STRUCTURE
AS ON 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
47,736,256 |
Equity Shares |
Rs. 10/- each |
Rs. 477.363
Million |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,42,08,480 |
Equity Shares |
Rs. 10/- each |
Rs. 442.085
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 |
442.085 |
430.974 |
199.424 |
|
(b) Reserves & Surplus |
186.786 |
360.884 |
188.814 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
54.001 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
682.872 |
791.858 |
388.238 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
787.103 |
664.592 |
649.558 |
|
(b) Deferred tax liabilities (Net) |
8.638 |
0.000 |
1.138 |
|
(c)
Other long term liabilities |
4.098 |
4.153 |
3.686 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
799.839 |
668.745 |
654.382 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
587.392 |
592.086 |
125.599 |
|
(b)
Trade payables |
106.288 |
36.354 |
76.413 |
|
(c)
Other current liabilities |
98.778 |
228.684 |
57.942 |
|
(d)
Short-term provisions |
4.667 |
25.367 |
2.920 |
|
Total
Current Liabilities (4) |
797.125 |
882.491 |
262.874 |
|
|
|
|
|
|
TOTAL |
2279.836 |
2343.094 |
1305.494 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1254.141 |
1295.458 |
434.846 |
|
(ii)
Intangible Assets |
3.175 |
5.773 |
8.371 |
|
(iii)
Capital work-in-progress |
13.013 |
13.013 |
492.494 |
|
(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 |
22.293 |
0.000 |
|
(d) Long-term Loan
and Advances |
66.859 |
49.676 |
55.554 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1337.188 |
1386.213 |
991.265 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
279.877 |
532.467 |
121.456 |
|
(c)
Trade receivables |
260.790 |
182.705 |
63.719 |
|
(d)
Cash and cash equivalents |
48.562 |
65.208 |
12.757 |
|
(e)
Short-term loans and advances |
347.808 |
171.298 |
115.328 |
|
(f)
Other current assets |
5.611 |
5.203 |
0.969 |
|
Total
Current Assets |
942.648 |
956.881 |
314.229 |
|
|
|
|
|
|
TOTAL |
2279.836 |
2343.094 |
1305.494 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1996.785 |
1049.445 |
657.370 |
|
|
|
Other Income |
4.323 |
3.730 |
1.778 |
|
|
|
TOTAL (A) |
2001.108 |
1053.175 |
659.148 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1111.604 |
829.523 |
484.967 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
199.242 |
(243.265) |
(5.862) |
|
|
|
Employees benefits expense |
19.115 |
9.274 |
4.623 |
|
|
|
Other expenses |
564.971 |
399.045 |
115.001 |
|
|
|
TOTAL (B) |
1894.932 |
994.577 |
598.729 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
106.176 |
58.598 |
60.419 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
200.728 |
108.481 |
36.599 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(94.552) |
(49.883) |
23.820 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
57.504 |
33.028 |
13.734 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(152.056) |
(82.911) |
10.086 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
30.931 |
(23.431) |
(0.472) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(182.987) |
(59.480) |
10.558 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(4.14) |
(1.38) |
0.53 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
151.551 |
34.284 |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash Flow from (used in) Operations |
(199.567) |
(11.791) |
74.337 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(9.16) |
(5.67) |
1.61 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
5.32 |
5.58 |
9.19 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.71) |
(3.59) |
1.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.22) |
(0.10) |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.01 |
1.78 |
2.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.18 |
1.08 |
1.20 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities of
Long-term debts
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 |
199.424 |
430.974 |
442.085 |
|
Reserves & Surplus |
188.814 |
360.884 |
186.786 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
54.001 |
|
Net
worth |
388.238 |
791.858 |
682.872 |
|
|
|
|
|
|
Long-term borrowings |
649.558 |
664.592 |
787.103 |
|
Short term borrowings |
125.599 |
592.086 |
587.392 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
34.284 |
151.551 |
0.000 |
|
Total
borrowings |
809.441 |
1408.229 |
1374.495 |
|
Debt/Equity
ratio |
2.085 |
1.778 |
2.013 |
s
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 |
657.370 |
1049.445 |
1996.785 |
|
|
|
59.643 |
90.271 |
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 |
657.370 |
1049.445 |
1996.785 |
|
Profit |
10.558 |
(59.480) |
(182.987) |
|
|
1.61% |
(5.67%) |
(9.16%) |
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 |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
No |
|
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 |
No |
|
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Other loans and advances, others |
65.665 |
24.000 |
|
|
|
|
|
Total |
65.665 |
24.000 |
CORPORATE INFORMATION
Scan Energy and Power
Limited is a company domiciled in India and incorporated under the provisions
of the Companies Act, 1956. The Company is engaged in the Manufacturing and
Selling of MS Ingot / Billet and MS Rod.
MANUFACTURING
AND OPERATIONS
Company has set up 3 X 15 Ton induction furnace with concast and 500 TPD automatic rolling mill in Mahboob Nagar district, Hyderabad, in the state of Andhra Pradesh.
Despite
high inflationary and cost pressure throughout the year, the Company
capitalized on every available opportunity coupled with a robust marketing
strategy to exploit the full industry potential, besides making efforts towards
cost reduction and improved efficiency at the plant level which enable the
Company to grow reasonably and achieved a turnover of Rs. 2220.000 Million
during the year.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Equipment
·
Emission Reduction Equipment
·
Other plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipment’s
·
Other Equipment’s
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.63.38 |
|
|
1 |
Rs.97.65 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
IND/ ARC |
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 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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.