MIRA INFORM REPORT
|
Report No. : |
327629 |
|
Report Date : |
18.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
SUPREME OFFSHORE CONSTRUCTION AND TECHNICAL SERVICES LIMITED
(w.e.f.30.09.2014) |
|
|
|
|
Formerly Known
As : |
SUPREME OFFSHORE CONSTRUCTION AND TECHNICAL SERVICES PRIVATE LIMITED
(w.e.f.28.08.2014) SUPREME OFFSHORE CONSTRUCTION AND TECHNICAL SERVICES LIMITED
(w.e.f.07.04.1995) SUPREME OFFSHORE CONSTRUCTIONS AND TECHNICAL SERVICES PRIVATE LIMITED |
|
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Registered
Office : |
410/411, Kondevetta Plaza, M V Road, Andheri [East], Mumbai – 400059,
Maharashtra |
|
Tel. No.: |
91-22-61707900 |
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|
|
|
Country : |
India |
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|
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
23.06.1994 |
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|
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Com. Reg. No.: |
11-079147 |
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|
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Capital
Investment / Paid-up Capital : |
Rs. 10.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200MH1994PLC079147 |
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|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS35504A |
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|
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PAN No.: [Permanent Account No.] |
AAECS0155R |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Providing Oilfield Services such as Fabrication, Revamping, Topside Modification, Erection, and Commissioning
of Offshore Projects. |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 478000 |
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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. Ratings reflect supremes above average financial risk profile marked
by a comfortable gearing and adequate debt [protection metrics along with
established presence and extensive experience of its promoters in the
oilfield services business. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered 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 |
|
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 = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
July 03, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
July 03, 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 DECLINED BY
|
Name : |
Mr. Bharat |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-61707900 |
|
Date : |
16.06.2015 |
LOCATIONS
|
Registered Office : |
410/411, Kondevetta Plaza, M V Road, Andheri [East], Mumbai – 400059,
Maharashtra, India |
|
Tel. No.: |
91-22-40084444/ 28204104/ 28392594/ 28396708 |
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Fax No.: |
91-22-28355829/ 28393724 |
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E-Mail : |
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Website : |
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Administrative Office : |
B' Wing, Bonanza 3rd Floor, Sahar Plaza, Kondivita, M.V. Road, Andheri (East), Mumbai - 400059, Maharashtra, India |
|
Tel. No.: |
91-22-61707900 |
|
Fax No.: |
91-22-28355829 |
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E-Mail : |
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|
|
|
|
Workshop 1 : |
Plot No. R / 652-625/1, TTC Industrial Area, Rabale - Thane Belapur Road, Navi Mumbai, Maharashtra, India |
|
Tel. No.: |
91-22-27695215/ 27697981 |
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Fax No.: |
91-22-27695216 |
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|
|
|
Workshop 2 : |
Plot No R - 957, TTC Industrial Area, Rabale Naka - Thane Belapur Road Navi Mumbai, Maharashtra, India |
DIRECTORS
AS ON 05.09.2014
|
Name : |
Mr. Anjan Navinchandra Shah |
|
Designation : |
Whole-time director |
|
Address : |
502, Windermere Society, North Avenue Road, S.V. Road, Mumbai –
400054, Maharashtra, India |
|
Date of Birth/Age : |
29.07.1948 |
|
Date of Appointment : |
24.04.2000 |
|
PAN No.: |
ANVPS6085P |
|
DIN No.: |
00081928 |
|
|
|
|
Name : |
Mr. Mukesh Navinchandra Shah |
|
Designation : |
Director |
|
Address : |
601, RNA Classic, North Avenue Road, S.V. Road, Mumbai – 400054,
Maharashtra, India |
|
Date of Birth/Age : |
12.12.1949 |
|
Date of Appointment : |
08.10.1996 |
|
PAN No.: |
AEXPS4121C |
|
DIN No.: |
00081965 |
|
|
|
|
Name : |
Mr. Vinit Navinchandra Shah |
|
Designation : |
Whole-time director |
|
Address : |
201, 2nd Floor, Tulsi Villa, 40, TPS-I, Santacruz (West),
Mumbai – 400054, Maharashtra, India |
|
Date of Birth/Age : |
07.05.1962 |
|
Date of Appointment : |
24.04.2000 |
|
PAN No.: |
AGDPS4023Q |
|
DIN No.: |
00082012 |
|
|
|
|
Name : |
Mr. Anand Harshvadan Shah |
|
Designation : |
Director |
|
Address : |
401/501, Tulsi Villa Poddar Road, Santacruz (West), Mumbai – 400054, Maharashtra,
India |
|
Date of Birth/Age : |
29.09.1977 |
|
Date of Appointment : |
08.06.2012 |
|
PAN No.: |
AFHPS7582K |
|
DIN No.: |
05299969 |
KEY EXECUTIVES
|
Name : |
Mr. Bharat |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 05.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Arcadia Shipping Limited, India |
|
800000 |
|
Mukesh Navinchandra Shah Director - Arcadia Shipping Limited, India |
|
79700 |
|
Anjan Navinchandra Shah Director - Arcadia Shipping Limited, India |
|
100 |
|
Harshvadan Navinchandra Shah Director - Arcadia Shipping Limited, India |
|
100 |
|
Vinit Navinchandra Shah Director - Arcadia Shipping Limited, India |
|
100 |
|
Tri-Star Shipping Private Limited, India |
|
119900 |
|
New Winco Impex Private Limited, India |
|
100 |
|
|
|
|
|
Total |
|
1000000 |
AS ON 05.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
92.00 |
|
Directors
or relatives of directors |
8.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Oilfield Services such as Fabrication, Revamping, Topside Modification, Erection, and Commissioning
of Offshore Projects. |
|
|
|
|
Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
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Products : |
Not Divulged |
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Countries : |
Not Divulged |
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Imports : |
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Products : |
Not Divulged |
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Countries : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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||||||||||||||||||||||
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||||||||||||||||||||||
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Customers : |
· NPCC · ONGC · HP · Hyundai · Larsen and Toubro |
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No. of Employees : |
Not Divulged |
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Bankers : |
· Corporation Bank Nariman Point Branch, Earnest House, Nariman Point, Mumbai - 400021, Maharashtra, India · Corporation Bank SME Branch, Andheri (East), Mumbai – 400059, Maharashtra, India ·
Indian Overseas Bank |
||||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Dilip B. Desai and Company Chartered Accountants |
|
Address : |
33-B, Keninedy Bridge, Mumbai – 400004, Maharashtra, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAIPD6187H |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 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 |
10.000 |
10.000 |
10.000 |
|
(b) Reserves & Surplus |
157.274 |
154.690 |
141.330 |
|
(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) |
167.274 |
164.690 |
151.330 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
64.684 |
55.867 |
14.828 |
|
(b)
Trade payables |
0.000 |
0.000 |
0.000 |
|
(c)
Other current liabilities |
21.147 |
69.868 |
227.743 |
|
(d)
Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
85.831 |
125.735 |
242.571 |
|
|
|
|
|
|
TOTAL |
253.105 |
290.425 |
393.901 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
121.393 |
121.485 |
105.344 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
2.497 |
70.758 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1.000 |
1.000 |
107.412 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.000 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
122.393 |
124.982 |
283.514 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
36.323 |
93.281 |
93.317 |
|
(d)
Cash and cash equivalents |
92.500 |
65.849 |
1.362 |
|
(e)
Short-term loans and advances |
1.889 |
6.313 |
15.708 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
130.712 |
165.443 |
110.387 |
|
|
|
|
|
|
TOTAL |
253.105 |
290.425 |
393.901 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
29.816 |
212.572 |
541.161 |
|
|
|
Other Income |
25.966 |
28.128 |
21.096 |
|
|
|
TOTAL |
55.782 |
240.700 |
562.257 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
127.966 |
266.602 |
|
|
|
Administrative Expenses |
|
52.708 |
202.519 |
|
|
|
Advertising Expenses |
|
39.504 |
44.676 |
|
|
|
TOTAL |
52.198 |
220.178 |
513.797 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(Including
Financial Expenses) |
20.522 |
48.460 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
2.261 |
2.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
3.584 |
18.261 |
46.260 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.000 |
4.901 |
15.668 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.584 |
13.360 |
30.592 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
153.190 |
139.830 |
109.238 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
155.774 |
153.190 |
139.830 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
173.537 |
311.354 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.58 |
13.36 |
30.59 |
|
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 |
|
Net Profit Margin (PAT / Sales) |
(%) |
8.67 |
6.28 |
5.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.42 |
6.36 |
21.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.11 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.39 |
0.34 |
0.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.52 |
1.32 |
0.46 |
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 |
10.000 |
10.000 |
10.000 |
|
Reserves & Surplus |
141.330 |
154.690 |
157.274 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
151.330 |
164.690 |
167.274 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
14.828 |
55.867 |
64.684 |
|
Total
borrowings |
14.828 |
55.867 |
64.684 |
|
Debt/Equity ratio |
0.098 |
0.339 |
0.387 |
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 |
541.161 |
212.572 |
29.816 |
|
|
|
(60.719) |
(85.974) |
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 |
541.161 |
212.572 |
29.816 |
|
Profit |
30.592 |
13.360 |
2.584 |
|
|
5.65% |
6.28% |
8.67% |
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 |
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 |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
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 |
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10521210 |
05/09/2014 |
1,050,000,000.00 |
INDIAN OVERSEAS
BANK |
NARIMAN POINT BRANCH,
BHAKTAWAR, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
C21737630 |
|
2 |
10521206 |
04/09/2014 |
1,050,000,000.00 |
INDIAN OVERSEAS
BANK |
NARIMAN POINT
BRANCH, BHAKTAWAR, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
C21734199 |
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Director loan |
1.500 |
0.000 |
|
Arcadia Shipping Limited |
4.000 |
14.741 |
|
|
|
|
|
Total |
5.500 |
14.741 |
FUTURE OUTLOOK
ANFRENA is a engineering company of Mozambique Holdings Group and is
already establishing LPG storage and bottling facilities at Maputo Port.
ANFRENA in Joint Venture with Petromoc have proposed to establish LPG storage
and bottling facilities at Beira Port for which a plot of land (approx. 65000
Sq. Mt.) has been allotted to ANFRENA near the petroleum products jetty at
Beira Port.
ANFRENA has also acquired another plot (approx. 50000 Sq. Mt.) near the
cargo jetty at Beira Port. They propose to put up Bitumen storage facilities at
this site.
The LPG facilities proposed by AFRENA are 3 Nos. LPG Bullets of 1000 MT
capacity each at present with a provision of additional 3 nos. bullets of 1000
MT capacity each in future. The LPG pipeline from petroleum products jetty has
already been laid. A tapping for transporting LPG from the pipelines to bullet
storage area and Marine Loading Arm at jetty are planned in the present scope.
In addition to bullets, the facilities envisaged are truck loading gantry,
bottling plant, sprinkler system, fire hydrant system, transformer, switch
board, PLC along with inter connected piping and E&I connections.
The bitumen storage facilities include approx. 1 KM of 10”pipeline from
jetty to storage area, hoses for unloading from ship, truck loading gantry,
suitable heating system to maintain bitumen temperature, control system,
transformer, switch board, inter connected piping and E&I connections and 3
x 3000 MT + 1 x 1000 MT Storage Tanks. ANFRENA may opt to increase the Storage
Capacity of the Bitumen.
The project has been awarded to the company and to be executed on
turnkey basis including design and engineering, procurement and supply,
fabrication and erection, hook-up/ tie-in/ commissioning etc.
Company is bidding for ONGC project of MHNRD Phase 3 pipeline project in
Consortium with Valentine, Abu Dhabi and also hopeful of getting Subcontracts
from Valentine Maritime or Leighton or Afcons or Swiber Offshore for Topside
fabrication and modification work for offshore platform and for Riser Clamps/
Riser Protectors and 1 Tube fabrication for various Projects viz. C26-Bassein
Pipeline and Topside Modification Platform etc. which will be decided by ONGC
within next 3/4 Months.
FIXED ASSETS:
· Plant and Machinery
· Factory Land
· Office Equipment
· Furniture and Fixture
· Computer System
· Equipment
· Tools and Trackles
· Air Conditioners
· Vehicle
· Electrical Fitting and Fixture
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. 64.11 |
|
|
1 |
Rs. 100.32 |
|
Euro |
1 |
Rs. 72.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
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 |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.