MIRA INFORM REPORT
|
Report No. : |
328146 |
|
Report Date : |
20.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
TOPWORTH STEELS AND POWER PRIVATE LIMITED (w.e.f. 07.04.2008) |
|
|
|
|
Formerly Known
As : |
TOPWORTH STEELS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Raheja Centre, Office No. - 206, 2nd Floor, 214, Free Press Journal Marg, Nariman Point, Mumbai – 400021, Maharashtra |
|
Tel. No.: |
91-22-22841414 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
18.05.2004 |
|
|
|
|
Com. Reg. No.: |
11-146381 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 904.585
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51420MH2004PTC146381 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT11594C |
|
|
|
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PAN No.: [Permanent Account No.] |
AACCT0878L |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Sponge Iron, Steel and Power Generation. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
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|
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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. For the financial year ended 2014, the company has reported decent topline growth and it has maintained profitability margins at 2.02%. Rating also takes into consideration experience of the promoters in the steel manufacturing and trading operations supported by sound financial base and fair liquidity profile of the company. Trade relations are fair. Business is active. Payments are reported to be usually correct. The company can be considered for business dealings at
usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilitates: BB+ |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
13.04.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilitates:A4+ |
|
Rating Explanation |
Minimal degree safety and very high credit. |
|
Date |
13.04.2015 |
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 DENIED BY
|
Name : |
Mr. Ananda Das |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-71500500 |
|
Date : |
17.06.2015 |
LOCATIONS
|
Registered Office : |
Raheja Centre, Office No. - 206, 2nd Floor, 214, Free Press
Journal Marg, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
Tel. No.: |
91-22-22841414 |
|
Fax No.: |
91-22-22840211 / 22880141 |
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E-Mail : |
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|
Website : |
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|
|
|
Corporate Office : |
308, 3rd Floor, Ceejay House, Dr. Annie Besant Road, Worli,
Mumbai – 400018, Maharashtra, India |
|
Tel. No.: |
91-22-24812000 |
|
Fax No.: |
91-22-24812122 |
|
|
|
|
Works / Marketing Department : |
Borai Industrial Growth Centre, Village Rasmada, District Durg -
491001, Chattisgarh, India |
|
Tel. No.: |
91-788-2617357/ 2617362/ 2617363/ 2617364/ 2617210 |
|
Fax No.: |
91-788-2617358 |
|
E-Mail : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Abhay Narendra Lodha |
|
Designation : |
Chairman |
|
Address : |
Vaitarna Building, Flat No. 502, Sir Pochkhanwala Road, Worli, Mumbai
– 400030, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1971 |
|
Date of Appointment : |
01.05.2011 |
|
PAN No.: |
AAKPL7249L |
|
DIN No.: |
00052194 |
|
|
|
|
Name : |
Mr. Ashwin Narendra Lodha |
|
Designation : |
Additional Director |
|
Address : |
502, Vaitarna Worli Sagar CHS Limited, Sir Pochkanwala Road, Worli
Seaface, Worli, Mumbai – 400030, Maharashtra, India |
|
Date of Birth/Age : |
03.05.1976 |
|
Date of Appointment : |
31.12.2012 |
|
PAN No.: |
AAFPL4505R |
|
DIN No.: |
00066948 |
|
|
|
|
Name : |
Mr. Nitin Golchha |
|
Designation : |
Director |
|
Address : |
SM 59, Ward – 43, Padmanbhpur, Durg – 491001, Chhattisgarh, India |
|
Date of Birth/Age : |
13.09.1978 |
|
Date of Appointment : |
02.01.2006 |
|
PAN No.: |
AGFPG5147D |
|
DIN No.: |
01669634 |
|
|
|
|
Name : |
Mr. Surendra Champalal Lodha |
|
Designation : |
Director |
|
Address : |
126-128, Shriram Tower, Kingsway, Sadar, Nagpur – 440001, Maharashtra,
India |
|
Date of Birth/Age : |
05.05.1965 |
|
Date of Appointment : |
10.05.2010 |
|
DIN No.: |
00044782 |
KEY EXECUTIVE
|
Name : |
Mr. Ananda Das |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Abhay Narendra Lodha |
1 |
|
Crest Steel and Power Private Limited, India |
90458462 |
|
Total |
90458463 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Sponge Iron, Steel and Power Generation. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
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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Bankers : |
· Union Bank of India, Industrial Finance Branch, 66/80, Mumbai Samachar Marg, Fort, Mumbai - 400023, Maharashtra, India · Central Bank of India, Corporate Finance Branch, Chander Mukhi, Ground Floor, Nariman Point, Mumbai - 400021, Maharashtra, India · Indian Bank, Mumbai Fort Branch, United India Building, Sir P.M. Road, Fort, Mumbai - 400001, Maharashtra, India · ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda – 390015, Gujarat, India |
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Facilities : |
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Auditors : |
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|
Name : |
Jain and Chhoriya Chartered Accountants |
|
Address : |
59, Gaya Building, 4th Floor, 109, Yusuf Meher Ali Road, Masjid Bunder, Mumbai – 400003, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFJ9495M |
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Memberships : |
-- |
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Collaborators : |
-- |
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Holding
company: |
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Associates: |
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CAPITAL STRUCTURE
AFTER 30.09.2014
Authorised Capital : Rs. 1000.000 Million
Issued, Subscribed & Paid-up Capital : Rs. 930.672
Million
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
Rs.10/- each |
Rs.1000.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90458463 |
Equity Shares |
Rs.10/- each |
Rs.904.585 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 |
904.585 |
904.585 |
807.469 |
|
(b) Reserves & Surplus |
5357.121 |
5032.939 |
4064.637 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
50.000 |
89.000 |
|
Total
Shareholders’ Funds (1) + (2) |
6261.706 |
5987.524 |
4961.106 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2882.710 |
2565.648 |
2763.879 |
|
(b) Deferred tax liabilities
(Net) |
528.358 |
485.091 |
431.825 |
|
(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) |
3411.068 |
3050.739 |
3195.704 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2488.453 |
2434.230 |
2043.818 |
|
(b) Trade payables |
9520.356 |
8032.494 |
4642.897 |
|
(c) Other current liabilities |
351.126 |
231.919 |
203.248 |
|
(d) Short-term provisions |
529.909 |
544.221 |
290.141 |
|
Total
Current Liabilities (4) |
12889.844 |
11242.864 |
7180.104 |
|
|
|
|
|
|
TOTAL |
22562.618 |
20281.127 |
15336.914 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4003.861 |
4016.595 |
4158.690 |
|
(ii) Intangible Assets |
2.790 |
3.332 |
3.226 |
|
(iii) Capital work-in-progress |
349.164 |
288.530 |
104.057 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1581.935 |
1669.356 |
1587.826 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
114.588 |
50.388 |
17.035 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
6052.338 |
6028.201 |
5870.834 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
1666.495 |
1242.482 |
636.405 |
|
(b) Inventories |
4563.210 |
4132.392 |
3169.623 |
|
(c) Trade receivables |
8538.013 |
7272.010 |
3809.167 |
|
(d) Cash and cash equivalents |
7.685 |
6.011 |
27.782 |
|
(e) Short-term loans and
advances |
1393.815 |
1189.876 |
1423.166 |
|
(f) Other current assets |
341.062 |
410.155 |
399.937 |
|
Total
Current Assets |
16510.280 |
14252.926 |
9466.080 |
|
|
|
|
|
|
TOTAL |
22562.618 |
20281.127 |
15336.914 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
|
3462.367 |
2237.310 |
|
|
Other Income |
|
9.877 |
7.619 |
|
|
TOTAL
|
|
3472.244 |
2244.929 |
|
|
|
|
|
|
|
|
EXPENSES |
|
3217.093 |
2089.958 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
255.151 |
154.971 |
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
|
7.261 |
3.980 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
247.890 |
150.991 |
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
|
148.081 |
77.232 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
99.808 |
73.759 |
|
|
|
|
|
|
|
|
TAX |
|
29.600 |
24.584 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
70.238 |
49.175 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
|
0.78 |
5.34 |
|
|
PARTICULARS |
|
|
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income from Operations |
|
|
6621.204 |
|
|
Income from Trading Sales |
|
|
11431.178 |
|
|
Other Income |
|
|
83.442 |
|
|
TOTAL
|
|
|
18135.824 |
|
|
|
|
|
|
|
|
EXPENSES |
|
|
16907.766 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
|
1228.058 |
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
|
|
580.145 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
647.913 |
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
|
|
175.378 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
|
472.535 |
|
|
|
|
|
|
|
|
CURRENT
TAX |
|
|
94.543 |
|
|
|
|
|
|
|
|
DEFERRED
TAX |
|
|
104.312 |
|
|
|
|
|
|
|
|
MAT CREDIT ENTITLEMENT FOR CURRENT YEAR |
|
|
0.000 |
|
|
|
|
|
|
|
|
MAT CREDIT ENTITLEMENT FOR EARLIER YEAR |
|
|
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
|
273.680 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
|
|
5.39 |
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) |
(%) |
2.03 |
2.20 |
4.13 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
7.37 |
6.93 |
18.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.48 |
0.40 |
3.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.01 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.86 |
0.84 |
0.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28 |
1.27 |
1.32 |
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 |
807.469 |
904.585 |
904.585 |
|
Reserves & Surplus |
4064.637 |
5032.939 |
5357.121 |
|
Net
worth |
4872.106 |
5937.524 |
6261.706 |
|
|
|
|
|
|
long-term borrowings |
2763.879 |
2565.648 |
2882.710 |
|
Short term borrowings |
2043.818 |
2434.230 |
2488.453 |
|
Total
borrowings |
4807.697 |
4999.878 |
5371.163 |
|
Debt/Equity
ratio |
0.987 |
0.842 |
0.858 |
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 |
6621.204 |
2237.310 |
3462.367 |
|
|
|
(66.210) |
54.756 |
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 |
6621.204 |
2237.310 |
3462.367 |
|
Profit |
273.680 |
49.175 |
70.238 |
|
|
4.13% |
2.20% |
2.03% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: The Registered Office of the company has been
shifted from Raheja Center, Off. No. 4214, Free Press Journal Marg, Nariman
Point, Mumbai – 400021, Maharashtra, India to the present address w.e.f.
01.09.2013.
REVIEW OF OPERATIONS
During the year, the Company's Net Income from operations stood at Rs. 99.808 Million as compared to Rs. 73.759 Million in the previous year. Profit before finance cost and taxation for the year stood at Rs.247.890 Million against Rs. 150.991 Million in the previous year. Profit after Tax increased from Rs. 49.175 Million in previous year to Rs. 70.238 30.359 Million in the year.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans repayable on demand from others |
0.000 |
744.267 |
|
Other loans and advances, others |
47.628 |
45.651 |
|
Short-term
borrowings |
|
|
|
Rupee term loans from banks |
1973.609 |
2097.791 |
|
Rupee term loans from others |
425.227 |
129.739 |
|
Loans and advances from others |
0.000 |
206.700 |
|
Other loans and advances, others |
89.617 |
0.000 |
|
Total |
2536.081 |
3224.148 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10557209 |
09/12/2014 |
180,000,000.00 |
CENTRAL BANK OF INDIA |
CORPORATE FINANCE
BRANCH, CHANDER MUKHI, NARIMAN |
C47801121 |
|
2 |
10506750 |
09/01/2015 * |
15,340,000,000.00 |
STATE BANK OF INDIA |
BACKBAY RECLAMATION
BRANCH, RAHEJA CHAMBERS, FREE |
C50106723 |
|
3 |
10483474 |
18/02/2014 |
820,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH,, 66/80, MUMBAI SAMACHA |
B98849664 |
|
4 |
10455102 |
13/09/2013 |
1,000,000,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE
BRANCH, 37,MUMBAI SAMACHAR MAR |
B87562302 |
|
5 |
10430209 |
21/05/2013 |
250,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH,
ATLANTA FIRST FLOOR, JAMNALAL |
B76764182 |
|
6 |
10397675 |
14/01/2013 |
410,000,000.00 |
THE COSMOS CO-OP. BANK LIMITED |
36A, MARU NIKETAN,
D. L. VAIDYA ROAD, DADAR (W), |
B66128018 |
|
7 |
10392369 |
05/12/2012 |
86,000,000.00 |
INDIAN BANK |
MUMBAI FORT BRANCH,
UNITED INDIA BUILDING, SIR P. |
B64289853 |
|
8 |
10387352 |
25/02/2014 * |
932,500,000.00 |
CENTRAL BANK OF INDIA |
CORPORATE FINANCE
BRANCH, CHANDER MUKHI, GROUND F |
B97877575 |
|
9 |
10372142 |
30/06/2012 |
200,000,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPOARTE BRANCH,
MAKER TOWER,"E" WING, GRO |
B56246416 |
|
10 |
10362019 |
09/06/2012 |
424,000,000.00 |
CORPORATION BANK |
FORT MID CORPORATE
BRANCH VEENA CHAMBERS, 21,, DA |
B42189332 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other equipments
Intangible assets
- Computer software
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.63.82 |
|
|
1 |
Rs.101.26 |
|
Euro |
1 |
Rs.72.36 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
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.