MIRA INFORM REPORT
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Report No. : |
327781 |
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Report Date : |
17.06.2015 |
IDENTIFICATION DETAILS
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Name : |
SIDDS JEWELS PRIVATE LIMITED |
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Registered
Office : |
301, 3rd Floor, Multi Stories Building (Non A.C.), Seepz, Andheri
(East), Mumbai – 400096, Maharashtra |
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Tel. No.: |
91-22-42200200 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
09.05.2003 |
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Com. Reg. No.: |
11-140382 |
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Capital Investment
/ Paid-up Capital : |
Rs.30.000 Million |
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CIN No.: [Company Identification
No.] |
U36911MH2003PTC140382 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAHCS1891H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Diamond Studded Jewellery. |
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No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. There seems a significant growth in the company turnover and profit
during F.Y. 2014. General financial position of the company is good. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered normal for 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.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
ICRA |
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Rating |
Long term: BBB |
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Rating Explanation |
Moderate degree of safety. It carry moderate
credit risk. |
|
Date |
August, 2014 |
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Rating Agency Name |
ICRA |
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Rating |
Short term: A3 |
|
Rating Explanation |
Moderate degree of safety. It carry higher
credit risk. |
|
Date |
August, 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.
INFORMATION PARTED BY
|
Name : |
Mr. Santosh Mishra |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-22-43476728 |
|
Date : |
16.06.2015 |
LOCATIONS
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Registered Office/ Factory : |
301, 3rd Floor, Multi Stories Building (Non A.C.), Seepz,
Andheri (East), Mumbai – 400096, Maharashtra, India |
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Tel. No.: |
91-22-42200200 |
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Fax No.: |
91-22-28294303 |
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E-Mail : |
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Area : |
8000 Sq.ft. |
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Location : |
Owned |
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Locality : |
Commercial |
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Head/
Administrative Office : |
604, Panchsheel Plaza, Hughes Road, Gamdevi, Mumbai – 400007,
Maharashtra, India |
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Tel. No.: |
91-22-43476728 / 29 |
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Area : |
600 Sq. Ft. |
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Location : |
Owned |
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Locality : |
Commercial |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Sunil Sudhir Kothari |
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Designation : |
Director |
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Address : |
11, Spring Field, 19, V. Gandhi Road, Gamdevi, Mumbai – 400007,
Maharashtra, India |
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Date of Birth/Age : |
30.05.1965 |
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Date of Appointment : |
09.05.2003 |
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PAN No.: |
AACPK3574H |
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DIN No.: |
00396228 |
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Other Directorship :
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Name : |
Sneha Sanjay Kothari |
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Designation : |
Director |
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Address : |
21, Spring Field, 19, V. Gandhi Road, Gamdevi, Mumbai – 400007,
Maharashtra, India |
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Date of Birth/Age : |
18.10.1972 |
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Date of Appointment : |
22.03.2004 |
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PAN No.: |
AAYPK4476C |
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DIN No.: |
00443220 |
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Other Directorship :
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Name : |
Saroj Sudhir Kothari |
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Designation : |
Director |
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Address : |
21, Spring Field, 19, V. Gandhi Road, Gamdevi, Mumbai – 400007,
Maharashtra, India |
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Date of Birth/Age : |
14.03.1943 |
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Date of Appointment : |
09.05.2003 |
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PAN No.: |
AACPK5534H |
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DIN No.: |
00443544 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Santosh Mishra |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Sunil Sudhir Kothari |
200000 |
6.67 |
|
Saroj Sudhir Kothari |
2200000 |
73.33 |
|
Ami S. Kothari |
200000 |
6.67 |
|
Sneha Sanjay Kothari |
200000 |
6.67 |
|
Sanju S. Kothari HUF |
200000 |
6.67 |
|
Total |
3000000 |
100.00 |
AS ON 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Diamond Studded Jewellery. |
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Products : |
Diamond Studded Jewellery |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Diamond Studded Jewellery |
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Countries : |
· USA · Hong Kong · Dubai · Canada |
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Imports : |
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Products : |
Rough Diamonds |
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Countries : |
· Hong Kong · Thailand · Dubai |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS:
NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers
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No. of Employees : |
300 (Approximately) |
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Bankers : |
· State Bank of India, Industrial Finance Branch, WTC, The Arcade 2nd Floor Cuffe Parade, Mumbai - 400005, Maharashtra, India · Syndicate Bank, International Business Branch, 10, Homji Street, Fort, Mumbai - 400023, Maharashtra, India · Union Bank of India, Princess Street Branch, Devkaran Mansion, Shamaldas Gandhi Marg, Mumbai - 400002, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Lalit Mehta Associates Chartered Accountants |
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Address : |
5, Bharat House 2nd Floor, Bombay Samachar Marg, Fort, Mumbai, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AACFL5763D |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates : |
· Pooja Exports · STK Estate Private Limited U70100MH2005PTC153443 · Arsim Gems · Satya Health Farm Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 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 |
|
|
|
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(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
30.000 |
30.000 |
30.000 |
|
(b) Reserves & Surplus |
1224.391 |
1047.143 |
947.346 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
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(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
1254.391 |
1077.143 |
977.346 |
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
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(a) long-term borrowings |
102.844 |
1.735 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.270 |
0.000 |
0.000 |
|
(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) |
103.114 |
1.735 |
0.000 |
|
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
2636.197 |
1580.775 |
1426.332 |
|
(b) Trade
payables |
174.083 |
169.969 |
113.203 |
|
(c) Other current
liabilities |
18.035 |
14.347 |
36.320 |
|
(d) Short-term
provisions |
30.000 |
21.335 |
28.599 |
|
Total Current
Liabilities (4) |
2858.315 |
1786.426 |
1604.454 |
|
|
|
|
|
|
TOTAL |
4215.820 |
2865.304 |
2581.800 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
32.652 |
36.389 |
31.348 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
204.745 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
10.000 |
10.000 |
10.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.255 |
0.000 |
|
(d) Long-term Loan and Advances |
1.875 |
45.300 |
22.463 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
249.272 |
91.944 |
63.811 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
393.745 |
411.435 |
397.579 |
|
(b)
Inventories |
383.277 |
301.968 |
242.831 |
|
(c) Trade
receivables |
2823.476 |
1724.411 |
1636.183 |
|
(d) Cash
and cash equivalents |
116.856 |
165.728 |
151.243 |
|
(e)
Short-term loans and advances |
115.970 |
98.962 |
78.866 |
|
(f) Other
current assets |
133.224 |
70.856 |
11.287 |
|
Total Current
Assets |
3966.548 |
2773.360 |
2517.989 |
|
|
|
|
|
|
TOTAL |
4215.820 |
2865.304 |
2581.800 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
|
|
TOTAL INCOME |
6653.641 |
4272.697 |
3740.594 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
6445.876 |
4187.305 |
3602.079 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
207.765 |
85.392 |
138.515 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
30.517 |
2.107 |
0.078 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
177.248 |
83.285 |
138.437 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
6690.140 |
4275.223 |
2752.033 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw materials |
4939.751 |
3331.667 |
NA |
|
|
|
Components |
1.371 |
0.332 |
NA |
|
|
|
Capital goods (including advance) |
0.848 |
0.150 |
NA |
|
|
TOTAL IMPORTS |
4941.970 |
3332.149 |
NA |
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
59.08 |
33.27 |
46.15 |
|
|
PARTICULARS |
|
|
31.03.2015 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
7150.000 |
The above information has been parted by Mr. Santosh Mishra (Accounts
Manager).
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 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.19 |
2.99 |
5.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.08 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.18 |
1.47 |
1.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.39 |
1.55 |
1.57 |
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 |
30.000 |
30.000 |
30.000 |
|
Reserves & Surplus |
947.346 |
1047.143 |
1224.391 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
977.346 |
1077.143 |
1254.391 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
1.735 |
102.844 |
|
Short term borrowings |
1426.332 |
1580.775 |
2636.197 |
|
CURRENT MATURITIES OF
LONG-TERM DEBTS |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
1426.332 |
1582.510 |
2739.041 |
|
Debt/Equity
ratio |
1.459 |
1.469 |
2.184 |
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) |
|
Total Income |
3740.594 |
4272.697 |
6653.641 |
|
|
|
14.225 |
55.725 |
NET
PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
3740.594 |
4272.697 |
6653.641 |
|
Profit |
138.437 |
83.285 |
177.248 |
|
|
3.70% |
1.95% |
2.66% |
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 |
Yes |
|
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 four 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 |
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 |
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term performance
– focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem and Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10445826 |
05/08/2013 |
100,000,000.00 |
UNION BANK OF INDIA |
PRINCESS STREET BRANCH, DEVKARAN MANSION, SHAMALDAS GANDHI MARG,, MUMBAI, MAHARASHTRA - 400002, INDIA |
B83464800 |
|
2 |
10433445 |
15/05/2013 |
172,500,000.00 |
STATE BANK OF INDIA |
STATE BANK OF INDIA INDUSTRIAL FINANCE BRANCH WTC, |
B78135993 |
|
3 |
10434229 |
09/05/2013 |
172,500,000.00 |
STATE BANK OF INDIA |
STATE BANK OF INDIA INDUSTRIAL FINANCE BRANCH WTC, |
B78464294 |
|
4 |
10396152 |
03/12/2012 |
3,050,000.00 |
UNION BANK OF INDIA |
PRINCESS STREET BRANCH,, DEVKARAN MANSION, SHAMAL |
B65583148 |
|
5 |
10024714 |
21/09/2006 |
200,000,000.00 |
SYNDICATE BANK |
INTERNATIONAL BRANCH, HOMJI STREET, MUMBAI, MAHARASHTRA - 400023, INDIA |
A06061444 |
|
6 |
10066118 |
09/03/2015 * |
3,120,000,000.00 |
SYNDICATE BANK |
INTERNATIONAL BUSINESS BRANCH, 10, HOMJI STREET, |
C52859345 |
|
7 |
10009657 |
13/06/2006 |
100,000,000.00 |
SYNDICATE BANK |
INTERNATIONAL BUSINESS BRANCH, 10, HOMJI STREET, |
A02169860 |
* Date of charge modification
UNSECURED LOANS
|
Particulars |
31.03.2014 (Rs. In Million) |
31.03.2013 (Rs. In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from directors |
0.000 |
0.300 |
|
Total |
0.000 |
0.300 |
CONTINGENT
LIABILITIES
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
Guarantees on behalf of the Company |
0.120 |
0.120 |
|
Corporate Guarantee given to banks on behalf a partnership firm, in which the Company is partner |
5100.000 |
3250.000 |
FIXED ASSETS
Tangible Assets
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No 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. 64.15 |
|
|
1 |
Rs. 100.04 |
|
Euro |
1 |
Rs. 72.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.