MIRA INFORM REPORT

 

 

Report No. :

328873

Report Date :

24.06.2015

 

IDENTIFICATION DETAILS

 

Name :

SHREE SANT KRIPA APPLIANCES PRIVATE LIMITED

 

 

Registered Office :

7, Akshay Complex, off Dhole Patil Road, Pune-411001, Maharashtra

Tel. No.:

91-20-40131000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

12.05.2006

 

 

Com. Reg. No.:

11-128465

 

 

Capital Investment / Paid-up Capital :

Rs. 216.311 Million

 

 

CIN No.:

[Company Identification No.]

U32109PN2006PTC128465

 

 

IEC No.:

3107012335

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

PNES18226F

 

 

PAN No.:

[Permanent Account No.]

AAJCS9896A

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Distributor of Samsung Mobiles, Accessories and Tablets.

 

 

No. of Employees :

Information declined by the Management

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (34)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated during the year 2006. It is the national distributor for Samsung electronic products and mobile devices.

 

For the financial year 2014, the company possesses a moderate financial risk profile, having a low profitability margin.

 

Further rating is constrain to the huge borrowings taken by the company and unfavourable gap between trade receivable to its payables.

 

The company is supported by its sole distributorship of mobile handsets and tablets for Samsung India Electronics Private Limited.

 

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

 

In view of its average financial base, the company can be considered for business dealings with some cautions.

 

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

CRISIL

Rating

Long Term Rating=BBB-

Rating Explanation

Moderate degree of safety and moderate credit risk

Date

28.01.2015

 

Rating Agency Name

CRISIL

Rating

Short term Rating=A3

Rating Explanation

Moderate degree of safety and higher credit risk

Date

28.01.2015

 

 

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 DECLINED BY

 

Name :

Mr. Gavde

Designation :

Office Executive

Contact No.:

91-20-26160411

Date :

23.06.2015

 

 

Name :

Ms. Yogita Hanamshet

Designation :

Company Secretary

Contact No.:

91-9881280060

Date :

23.06.2015

 

 

LOCATIONS

 

Registered Office :

7, Akshay Complex, off Dhole Patil Road, Pune-411001, Maharashtra, India

Tel. No.:

91-20-40131000/ 26160411

Mobile No.:

91-9881280060 (Ms. Yogita Hanamshet)

Fax No.:

91-20-26164837

E-Mail :

finance@sskgroup.in

ssknokiaphone@rediffmail.com

Website :

http://sskgroup.in

 

 

Works :

R 538-539-540, 1st Floor, Near Golden Garage, TTC Industrial Area, 
Rabale MIDC, Rabale, Navi Mumbai-400071, Maharashtra, India

 

 

Branch Offices :

Located at:

 

·         Bhopal

·         Solapur

·         Raipur

·         Aurangabad

·         Ahmedabad

·         Navi Mumbai

·         Gurgaon

·         Goa

·         Hyderabad

·         Kolhapur

·         Dhantoli

·         Nashik

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Rajesh Jeevan  Uttamchandani

Designation :

Whole-time director

Address :

A-6, Clover Garden,Neylore Road, Pune-411001, Maharashtra, India

Date of Birth/Age :

08.01.1964

Qualification :

B.E. (Mech.)

Date of Appointment :

12.05.2006

PAN No.:

AABPU5362J

DIN No.:

00139105

 

 

Name :

Mr. Govind Jeevan Uttamchandani

Designation :

Whole-time director

Address :

A-6, Clover Garden,Neylore Road, Pune-411001, Maharashtra, India

Date of Birth/Age :

01.05.1961

Qualification :

B. Tech. (Chemical Engineering), M.B.A.

Date of Appointment :

12.05.2006

PAN No.:

AABPU5180E

DIN No.:

00139239

 

 

KEY EXECUTIVES

 

Name :

Mr. Gavde

Designation :

Office Executive

 

 

Name :

Ms. Yogita Hanamshet

Designation :

Company Secretary

 

 

Name :

Mr. Rohan Sunil Vhora

Designation :

Secretary

Address :

S. No.62/1/2/3/4, Building No.B-1, Flat No-903, Basil Homes Upper Indira Nagar, Pune-411037, Maharashtra, India

Date of Birth/Age :

27.02.1987

Date of Appointment :

04.09.2014

PAN No.:

AEJPV1366B

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Names of Shareholders

No. of Shares

 

Rajesh Jeevan  Uttamchandani

2116080

Govind Jeevan Uttamchandani

2116080

Hardevi Jeevan Uttamchandani

1831669

Govind Uttamchandani (HUF)

2153665

Rajesh Uttamchandan (HUF)

2153665

SSK Infotech Private Limited, India

700000

Bagh Bahar Appliances Private Limited, India

297500

Meena G Uttamchandani

1923205

Sunita R. Uttamchandani

1923205

Honey G. Uttamchandani

1604000

Gitika R. Uttamchandani

1604000

Gurumukh R. Uttamchandani

1604000

Jyotsna G Uttamchandani

1604000

Total

21631069

 

 

AS ON 30.09.2014

 

Equity Share Breakup

Percentage of Holding

Category

 

Bodies corporate

4.61

Directors or relatives of directors

95.39

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Distributor of Samsung Mobiles, Accessories and Tablets.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

--

 

 

Imports :

--

 

 

Terms :

--

 

 

 

PRODUCTION STATUS : NOT AVAILABLE

 

 

 

GENERAL INFORMATION

 

Suppliers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

Customers :

Reference:

Not Divulged

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

 

No. of Employees :

Information declined by the Management

 

 

Bankers :

Bank Name:

State Bank of India

Branch:

SME Backbay Reclamation Branch, Mumbai- 400021, Maharashtra, India

Person Name (with Designation):

Not Divulged

Contact Number:

Not Divulged

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks:

Not Divulged

 

·         Punjab National Bank

11/12, Nava Swaraj CHS Limited, Ideal Colony, Paud Road, Kothrud, Pune – 411038, Maharashtra, India

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Term Loan from Banks

0.000

1.158

 

 

 

SHORT TERM BORROWINGS

 

 

Rupee term loans from banks

1.626

3959.953

Total

1.626

3961.111

 

Banking Relations :

--

 

 

Finance Institution:

·         Reliance Capital Limited

"H" Block 1st Floor, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai - 400710, Maharashtra, India

 

·         S. E. INVESTMENTS LIMITED

S-547, Second Floor Main Road, Shakar Pur, New Delhi, Delhi - 110092, India

 

 

Auditors :

 

Name :

M/s. D. G. KANGO

Chartered Accountants

Address :

Sadashiv Peth, Tilak Road, Pune-411030, Maharashtra, India

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

ACDPK5223A

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Subsidiaries Company :

·         IST-SSK Company Limited, Korea

·         Shree Sant Kripa Appliances PTE  Limited, Singapore

·         Intellectual Power Systems Private Limited, India  (U40106PN2012PTC143664)

 

 

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives :

·         Shree Sant Kripa Educational Trust

·         SSK InfoTech Private Limited (U72900PN2006PTC129119)

·         Bagh Bahar Appliances Private Limited (U29305PN1997PTC108822)

·         SSK Retails Private  Limited (U74900PN2008PTC132627)

·         Shree Sant Kripa Educational Research Institution

·         SSK Fruits and Farms Private Limited (U51909PN2011PTC139528)

·         Sant Shiromani Electronics

·         Gurunanak Marketing

·         Syska Led Lights Private Limited (U31501PN2012PTC143392)

·         SSK Developers Private Limited (U45204PN2008PTC132246)

·         SSK Developers

·         JSK Agro Products

 

 

 

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

30000000

Equity Shares

Rs. 10/- each

Rs. 300.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

21631069

Equity Shares

Rs. 10/- each

Rs. 216.311 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

216.311

216.311

209.999

(b) Reserves & Surplus

1629.965

1292.349

708.562

(c) Money received against share warrants

0.000 

0.000 

0.000

 

 

 

 

(2) Share Application money pending allotment

143.000

143.000

111.628

Total Shareholders’ Funds (1) + (2)

1989.276

1651.660

1030.189

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

290.725

15.390

17.545

(b) Deferred tax liabilities (Net)

4.040

4.141

3.592

(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)

294.765

19.531

21.137

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

5562.184

3971.636

2300.056

(b) Trade payables

827.287

806.046

486.214

(c) Other current liabilities

1.798

(37.933)

(46.868)

(d) Short-term provisions

135.019

141.027

54.792

Total Current Liabilities (4)

6526.288

4880.776

2794.194

 

 

 

 

TOTAL

8810.329

6551.967

3845.520

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

75.140

49.141

45.960

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

55.805

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

39.801

28.081

0.001

(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

14.129

14.565

20.560

Total Non-Current Assets

184.875

91.787

66.521

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

4184.405

2412.568

1463.586

(c) Trade receivables

3991.195

3764.143

2178.851

(d) Cash and cash equivalents

336.990

186.405

132.901

(e) Short-term loans and advances

0.000

0.000

0.000

(f) Other current assets

112.864

97.064

3.661

Total Current Assets

8625.454

6460.180

3778.999

 

 

 

 

TOTAL

8810.329

6551.967

3845.520

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

75353.228

50205.098

34299.718

 

 

Other Income

473.555

295.764

279.034

 

 

TOTAL                                    

75826.783

50500.862

34578.752

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

TOTAL                                    

74608.022

49787.287

33975.883

 

 

 

 

 

 

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

1218.761

713.575

602.869

 

 

 

 

 

Less

FINANCIAL EXPENSES                                   

579.426

301.132

246.305

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

639.335

412.443

356.564

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

4.761

4.224

3.910

 

 

 

 

 

 

PROFIT/ LOSS BEFORE TAX

634.574

408.219

352.654

 

 

 

 

 

 

EXCEPTIONAL ITEM

(227.084)

0.000

0.000

 

 

 

 

 

Less

TAX                                                                 

69.874

70.549

32.702

 

 

 

 

 

 

PROFIT/ LOSS AFTER TAX

337.616

337.670

319.952

 

 

 

 

 

 

Earnings Per Share (Rs.)

15.61

15.61

15.24

 

 

 

 

 

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)

(%)

0.45

0.67

0.93

 

 

 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)

1.62

1.42

1.76

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

7.28

6.26

9.17

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.32

0.25

0.34

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

2.94

2.41

2.25

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.32

1.32

1.35

 

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

209.999

216.311

216.311

Reserves & Surplus

708.562

1292.349

1629.965

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

111.628

143.000

143.000

Net worth

1030.189

1651.660

1989.276

 

 

 

 

Long-term borrowings

17.545

15.390

290.725

Short term borrowings

2300.056

3971.636

5562.184

Total borrowings

2317.601

3987.026

5852.909

Debt/Equity ratio

2.250

2.414

2.942

 

 

 

 

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

34299.718

50205.098

75353.228

 

 

46.372

50.091

 

 

 

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

34299.718

50205.098

75353.228

Profit

319.952

337.670

337.616

 

0.93%

0.67%

0.45%

 

 

 

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

Yes

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

10530523

12/11/2014

30,000,000.00

S. E. INVESTMENTS LIMITED

S-547, SECOND FLOOR MAIN ROAD, SHAKAR PUR, NEW DELHI,
DELHI - 110092, INDIA

C33172255

2

10530519

12/11/2014

35,000,000.00

S. E. INVESTMENTS LIMITED

S-547, SECOND FLOOR MAIN ROAD, SHAKAR PUR, NEW DELHI,
DELHI - 110092, INDIA

C33171257

3

10481252

28/02/2014

350,000,000.00

PUNJAB NATIONAL BANK

11/12, NAVA SWARAJ CHS LTD. IDEAL COLONY,, PAUD ROAD, KOTHRUD, PUNE- 411038, MAHARASHTRA, INDIA

B97754154

4

10449309

20/09/2013

40,000,000.00

RELIANCE CAPITAL LIMITED

"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI- 400710, MAHARASHTRA, INDIA

B85118016

5

10377202

24/09/2012

26,280,000.00

RELIANCE CAPITAL LIMITED

"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE C
ITY, KOPARKHAIRNE, NAVI MUMBAI- 400710, MAHARASHTRA, INDIA

B58378746

6

10377199

24/09/2012

52,560,000.00

RELIANCE CAPITAL LIMITED

"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI- 400710, MAHARASHTRA, INDIA

B58378068

7

10377204

24/09/2012

52,560,000.00

RELIANCE CAPITAL LTD

"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE C
ITY, KOPARKHAIRNE, NAVI MUMBAI- 400710, MAHARASHTRA, INDIA

B58378951

8

10333545

31/01/2012

18,000,000.00

RELIANCE HOME FINANCE PRIVATE LIMITED

3RD FLOOR-570, RECTIFIER HOUSE, NAIGAM CROSS ROAD
, WADALA, MUMBAI- 400031, MAHARASHTRA, INDIA

B31232218

9

10340249

24/10/2011

9,000,000.00

RELIANCE CAPITAL LTD

"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE C
ITY, KOPARKHAIRNE, NAVI MUMBAI- 400710, MAHARASHTRA, INDIA

B30098404

10

10340250

24/10/2011

9,000,000.00

RELIANCE CAPITAL LTD

"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE C
ITY, KOPARKHAIRNE, NAVI MUMBAI- 400710, MAHARASHTRA, INDIA

B30097257

 

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULARS

31.03.2014

(Rs. In Million)

31.03.2013

(Rs. In Million)

LONG-TERM BORROWINGS

 

 

Rupee term loans from others

27.613

0.376

Loans and advances from related parties

263.112

13.856

 

 

 

SHORT TERM BORROWINGS

 

 

Term loans from Others

5560.558

1.122

Rupee term loans from Others

0.000

10.561

Total

5851.283

25.915

 

FIXED ASSETS:

 

·         Building

·         Plant and Equipment

·         Factory equipment

·         Furniture and Fixtures

·         Vehicles

·         Office Equipment

·         Computer Equipment

·         Other 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 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. 63.64

UK Pound

1

  Rs. 100.41

Euro

1

Rs. 71.63

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

IND

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

4

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

4

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

34

 

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.