MIRA INFORM REPORT

 

 

Report No. :

332785

Report Date :

16.07.2015

 

IDENTIFICATION DETAILS

 

Name :

SAISONS TECHNOCOM PRIVATE LIMITED (w.e.f. 23.09.1999)

 

 

Formerly Known As :

SAISONS COMMUNICATIONS PRIVATE LIMITED

 

 

Registered Office :

Flat No.1501, 15th Floor, Dhukka Chambers, CTS No 337-A, Malad East, Mumbai – 400097, Maharashtra

Tel. No.:

91-22-66989999/28839977

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

23.09.1999

 

 

Com. Reg. No.:

11-121908

 

 

Capital Investment / Paid-up Capital :

Rs. 50.000 Million

 

 

IEC No.:

0300060351

 

 

CIN No.:

[Company Identification No.]

U32200MH1999PTC121908

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAECS9019E

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Electrical Panels and Communication Equipments.

 

 

No. of Employees :

250 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (30)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 420000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in 1999 by Mr. Siddharth Shah.

 

It is an established company having moderate track.

 

External Borrowing of the company has increase as compared to previous year.

 

The company possesses moderate financial risk profile marked by working capital intensive nature of operations, customer concentration risk, moderate gearing and debt coverage indicators.

 

However, trade relations seems to be fair. Business is active. Payment terms are reported as slow but correct.

 

In view of experienced promoters and established client relationship, the company can be considered for business dealings with 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

CARE

Rating

Long Term Bank Facilities=BB-

Rating Explanation

Have inadequate credit quality and carry high credit risk.

Date

03.04.2015

 

Rating Agency Name

CARE

Rating

Short Term Bank Facilities=A4

Rating Explanation

Have minimal degree of safety and carry very high credit risk.

Date

03.04.2015

 

 

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.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Siddharth Chimanlal Shah

Designation :

Director

Contact No.:

91-9892207997

Date :

14.07.2015

 

 

LOCATIONS

 

Registered Office :

Office No.1501, 15th Floor, Dhukka Chambers, CTS No 337-A, Malad East, Mumbai – 400097, Maharashtra, India

Tel. No.:

91-22-66989999/28839977

Mobile No.:

91-9892207997 (Mr. Siddharth Chimanlal Shah)

Fax No.:

91-22-27782021 / 28839977

E-Mail :

saisons@rediffmail.com

siddharth@saisons.in

purchase@saisons.in

accounts@saisons.in

Website :

http://www.saisons.in

Area :

1500 Sq. Ft.

Location :

Rented

Locality:

Commercial

 

 

Factory :

Arham Lagiparc, Building No.  B 7, Unit No., 1,2 And 3, Mumbai Nashik By-Pass Road, Village Valshind, Taluka Bhivandi, District Thane – 421302, Maharashtra, India

Area :

35000 Sq. Ft.

Location :

Rented

 

 

DIRECTORS

 

As on 21.09.2014

 

Name :

Mr. Siddharth Chimanlal Shah

Designation :

Director

Address :

5, Kalyani, N.S. 4th Road, JVPD Scheme, Vile Parle (West), Mumbai - 400056, Maharashtra, India

Date of Birth/Age :

06.09.1979

Date of Appointment :

23.09.1999

DIN No.:

01343122

 

 

Name :

Mr. Ankit Vinay Shah

Designation :

Director

Address :

Flat No 6 Kalyani Building 1st Floor, NS 4th Road JVPD Scheme Vile Parle (West), Mumbai - 400056, Maharashtra, India 

Date of Birth/Age :

09.08.1985

Date of Appointment :

18.01.2006

DIN No.:

02495202

 

 

KEY EXECUTIVES

 

Name :

Mr. Vijay Rane

Designation :

(Accountant)

 

 

MAJOR SHAREHOLDERS

 

As on 21.09.2014

 

Names of Shareholders

 

No. of Shares

Siddharth Chimanlal Shah

 

3450000

Ahnita Financial Services Private Limited, India

 

625000

Ankit Vinay Shah

 

250000

Fish Capital Services Private Limited, India

 

334000

Accent Exim Private Limited, India

 

341000

Total

 

5000000

 

 

As on 21.09.2014

 

Category

Percentage

Bodies corporate

26.00

Directors or relatives of Directors

74.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Electrical Panels and Communication Equipments.

 

 

Products :

1.     Electrical panel

a.     MCC panel

b.    PCC panel

c.     Fire detection panel

d.    Sprinkler and pump panels

e.     DB box

f.     Breaker panel

g.    Star / Delta panel.

h.     UPS

i.      AC/DC , DC/DC converter

j.      Transformer panel

k.     D.G. startup panel

l.      Automation panel

m.   Data collection and storage panel

 

2.     Telecommunication

a.     Coin box

b.    STD and ISD machine

c.     Network modem

d.    Switching product

e.     Installation hops

f.     Cloud products

g.    Mobile towers

h.     Shelter cabin

 

3.     Wire Harness

a.     Cat 5 / cat 6

b.    LC-LC optical cable

c.     Power cable

d.    Harness for power panel

e.     1.5, 2.5 communication and power cables.

f.     Amorerd cable for power and telecom

g.    PCM cables

h.     Fiber optical cat 6 cables.

 

4.     Product

a.     Furniture

b.    Air o water ( AWG technology)

c.     Grills

d.    Name Plates

e.     Bio Digester

f.     Water dispenser

g.    Water cooler

h.     Water purifier.

i.      FIRE Detector

j.      5 kg,6.8kg, 10 kg, 20kg, 80 kg  fire extinguisher ( ABC and co2 type);

k.     Smoke detector

l.      Powder and CO2 gas filling units

m.   Addressable fire alarm system

n.     FHS system

o.    Cylinders & High pressure tanks

 

5.     Others

a.     Bus bar.

b.    Smoke detector

c.     SS/ MS fabrication and sheets

d.    Copper/ AL wire, cables and harness

e.     Powder coating and surface finishing

f.     Pipes and values

g.    Solar

h.     LED lighting

i.      Copper /AL heat Exchanger.

j.      Copper pipes and plates.

 

 

6.     Other services

a.     Design and development of Fabrication

b.    Autocad and 3d drawing development

c.     Automation and PLC software and GUI

d.    Tuncky project development

 

7.     Installation       

a.     Electrical panel

b.    Bio toilet

c.     Fire system

d.    Alarm panel

e.     Audit of fire safety

f.     Installation of water purifier and system

 

8.     Machines

a.     Press break

b.    Power press

c.     Powder coating plant.

d.    Corrosion plant.

e.     SS vessel for pharma

f.     Automation for chemical mixture.

g.    Cylinder filling and assembly line

h.     Pneumatic Leak test

i.      Welding machine

j.      Screen printing machine

k.     Labelling machine.

l.      Die and tool

m.   Grinding machine

 

9.     Undertakes export of heavy engineering

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Electrical Panels and Communication Equipments

Countries :
  • Dubai
  • Singapore
  • UAE

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Eurotech Cylinders Private Limited

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

Reference :

Naresh Steel Industries Private Limited

Name of the Person :

Mr. Nitin Shah (Director)

Contact No.:

91-9869060880

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Mr. Mihir Shah (Director) he denied to provide any information about subject company.

 

 

Customers :

End Users

Reference :

Larsen and Touhro Limited

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

Reference :

Nitin Fire Protection Industries Limited

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

250 (Approximately)

 

 

Bankers :

Bank Name

Dena Bank

Branch

Share Bazar, Fort, Mumbai, Maharashtra, India

Person Name (With Designation)

Mr. Vijay Rane (Accountant)

Contact Number

91-22-22653226

Name of Account Holder

Saisons Technocom Private Limited

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

2 Years

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Cash and Credit Rs.300.000 Million

LC Rs.30.000 Million

Account Operation

Satisfactory

Remarks (If any)

As claimed by Mr. Vijay Rane (Accountant) the subject having satisfactory track record with bankers.

 

  • Development Credit Bank Limited, 301, Delta Plaza, 414, Veer Savarkar Marg, Prabhadevi, Mumbai – 400025, Maharashtra, India
  • State Bank of Indore, 214, D.N. Road, Fort, Mumbai – 400001, Maharashtra, India
  • Dena Bank, Share Bazar Branch, Dena Bank House, 31/33, Ambalal Doshi Marg, Mumbai – 400023, Maharashtra, India

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Rupee Term Loan from Bank

7.204

17.062

 

 

 

Short-term borrowings

 

 

Rupee Term Loan from Bank

226.280

195.225

 

 

 

Total

233.484

212.287

 

 

 

Auditors :

 

Name :

Nayak and Rane

Chartered Accountants

Address :

501, Siddhivinayak Annexe, "C" Wing, S. J. Marg, Lower Patel (West), Mumbai – 400013, Maharashtra, India 

PAN N Income-tax PAN of auditor or auditor's firm :

AAEPN0009Q

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

As on 21.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5000000

Equity Shares

Rs.10/- each

Rs. 50.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5000000

Equity Shares

Rs.10/- each

Rs. 50.000 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

50.000

50.000

44.800

(b) Reserves & Surplus

97.505

78.423

63.474

(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)

147.505

128.423

108.274

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

109.570

63.153

34.334

(b) Deferred tax liabilities (Net)

13.221

10.069

6.993

(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)

122.791

73.222

41.327

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

261.279

227.647

151.653

(b) Trade payables

141.579

63.308

34.380

(c) Other current liabilities

33.199

20.871

37.284

(d) Short-term provisions

5.780

4.508

5.587

Total Current Liabilities (4)

441.837

316.334

228.904

 

 

 

 

TOTAL

712.133

517.979

378.505

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

111.505

79.435

58.130

(ii) Intangible Assets

12.311

12.662

10.497

(iii) Capital work-in-progress

0.000

0.133

0.137

(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

0.000

0.000

9.242

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

123.816

92.230

78.006

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

295.226

205.456

113.017

(c) Trade receivables

237.077

184.996

161.304

(d) Cash and cash equivalents

24.433

20.725

20.986

(e) Short-term loans and advances

30.399

13.609

4.121

(f) Other current assets

1.182

0.963

1.071

Total Current Assets

588.317

425.749

300.499

 

 

 

 

TOTAL

712.133

517.979

378.505

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

1444.496

1204.711

754.141

 

Other Income

 NA

 NA

7.792

 

TOTAL

NA

NA

761.933

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

 

332.036

 

Purchases of Stock-in-Trade

 

 

326.390

 

 Software Development Charges

 

 

4.298

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

 

 

2.293

 

Employees benefits expense

 

 

12.624

 

Other expenses

 

 

22.310

 

TOTAL

NA

NA

699.951

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

89.065

61.148

61.982

 

 

 

 

 

Less

FINANCIAL EXPENSES

54.586

32.916

35.601

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

34.479

28.232

26.381

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

6.464

5.699

6.108

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

28.015

22.533

20.273

 

 

 

 

 

Less

TAX

8.932

7.584

6.522

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

19.083

14.949

13.751

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

 3.82

2.99 

3.07

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover (Approximately)

 

 

1590.000

 

 

 

 

 

Expected Sales (2015-2016) : Rs. 2200.000 Million

 

The above information has been parted by Mr. Siddharth Chimanlal Shah (Director)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

11.649

11.900

NA

Cash generated from operations

NA

NA

NA

Net cash flow from operating activity

NA

NA

NA

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

1.32

1.24

1.82

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

6.17

5.08

8.22

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

3.93

4.35

5.36

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.19

0.18

0.19

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.59

2.36

1.72

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.33

1.35

1.31

 

 

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

44.800

50.000

50.000

Reserves & Surplus

63.474

78.423

97.505

Net worth

108.274

128.423

147.505

long-term borrowings

34.334

63.153

109.570

Short term borrowings

151.653

227.647

261.279

Total borrowings

185.987

302.700

382.498

Debt/Equity ratio

1.718

2.357

2.593

 

 

 

 

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

761.933

1204.711

1444.496

 

 

58.112

19.904

 

 

 

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

761.933

1204.711

1444.496

Profit

13.751

14.949

19.083

 

1.80%

1.24%

1.32%

 

 

 

 

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

Yes

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

Yes

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

NOTE: Registered office of the company has been shifted from Plot No. A-418, TTC M.I.D.C, Mahape, Near S.P. Fabricators, Navi Mumbai – 400701, Maharashtra, India to the present address w.e.f. 10.01.2014

 

UNSECURED LOAN

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Term Loan from Bank

4.666

6.736

Other Loans and Advances

97.700

39.355

 

 

 

Short-term borrowings

 

 

Term Loan from Bank

34.999

32.422

 

 

 

Total

137.365

78.513

 

 

INDEX OF CHARGES

 

Sr. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10357167

04/05/2012

25,000,000.00

Tata Capital Financial Services Limited

One Forbes,, Dr. V. B. Gandhi Marg, Fort, Mumbai,
Maharashtra - 400001, India

B40146698

2

10336915

28/05/2014 *

344,900,000.00

Dena Bank

Share Bazar Branch, Dena Bank House, 31/33, Ambalal Doshi Marg  Mumbai, Maharashtra - 400023, India

C06957765

3

10249495

19/10/2010

50,000,000.00

Development Credit Bank Limited

301, Delta Plaza, 414, Veer Savarkar Marg, Prabhadevi, Mumbai, Maharashtra - 400025, India

A97843981

4

80063762

08/06/2004

40,000,000.00

ICICI Bank Limited

Landmark, Race Course Circle, Vadodara, Gujarat - 390227, India

-

5

90145218

07/07/2003 *

5,000,000.00

The Karnataka Bank Limited

Overseas Branch, Mumbai, Maharashtra, India

-

6

90143131

12/10/2002 *

5,000,000.00

The Karnataka Bank Limited

Overseas Branch, Mumbai, Maharashtra, India

-

7

90142821

29/03/2000

2,500,000.00

The Karnataka Bank Limited

Overseas Branch, Mumbai, Maharashtra, India

-

 

 

REVIEW OF OPERATIONS

 

During the year, growth level of 19.66% was achieved.

 

The Company is exploring new business opportunities with diversified product line in Automation, Electrical, Telecom, Power and Furniture Industries.

 

 

FUTURE OUTLOOK

 

Expansion Plan :

 

The Company has shifted its manufacturing operations from Navi Mumbai to Bhiwandi to enhance its production capacity and business growth. Further, Saisons plans to set up additional factory at Baroda during current year.

 

New Vendor Development :

 

The Company has expanded it business activities in the field of Fabrication, Electrical Panel, Automations, Telecom with MNC’s. The sales growth has shown significant increase with the addition of new customers like Nitin Fire, Emerson Network Power ( India) Private Limited., Escon Elevators Private Limited, Tatsuno India Private Lilnited and other similar companies.

 

New Project - Air 2 Water

 

The Company has tied up with USA patent holder for manufacturing Air 2 Water product which has huge potential and marketing scope for the product. The Company has secured exclusive rights for marketing and manufacturing Air 2 Water product in India. The Company is expecting revenue generation till 31 st March 2014.

 

Sales Growth :

 

The Company is expecting sales growth of 25% for next financial year.

 

 

FIXED ASSETS

 

  • Land
  • 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, 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.63.38

UK Pound

1

Rs.99.13

Euro

1

Rs.69.69

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

RSH

 

 

Report Prepared by :

SUD

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

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

 

30

 

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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.