MIRA INFORM REPORT
|
Report No. : |
329098 |
|
Report Date : |
26.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
RELIANCE SECURITIES LIMITED (w.e.f. 17.07.2006) |
|
|
|
|
Formerly Known
As : |
R TRADE SECURITIES LIMITED |
|
|
|
|
Registered
Office : |
11th Floor, R-Tech IT Park, Western Express Highway, Goregaon (East),
Mumbai –
400 063, Maharashtra |
|
Tel. No.: |
91-22-33201212 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
17.06.2005 |
|
|
|
|
Com. Reg. No.: |
11-154052 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1500.000 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U65990MH2005PLC154052 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCR0260P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged into stock broking related
activities. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
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 |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a subsidiary of “RELIANCE CAPITAL LIMITED”. It is an
established company having satisfactory track record. For the financial year ended 2014, company has incurred huge
accumulated loss during a year under review. However, the rating takes into consideration RSL’s position as a large
broker with considerable presence in domestic retail broking space, adequate
risk management, adequate capitalization levels and comfortable liquidity
profile for current scale of operations. Further company receives strong financial and managerial support from
its holding company. Trade relation are fair. Business is active. Payment terms are
reported to be usually correct. In view of strong holding company support, 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 |
ICRA |
|
Rating |
Commercial Paper: A1+ |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
December, 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
Management non-cooperative
(Tel. No.: 91-22-33201212)
LOCATIONS
|
Registered/ Corporate Office : |
11th Floor, R-Tech IT Park, Western Express Highway, Goregaon (East),
Mumbai –
400 063, Maharashtra, India |
|
Tel. No.: |
91-22-33201212 |
|
Fax No.: |
91-22-33201555 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 10.09.2014
|
Name : |
Manu
Chadha |
|
Designation : |
Director |
|
Address : |
C-35,
Malcha Marg, Chanakayapuri, New Delhi – 110 021, India |
|
Date of Birth/Age : |
28.08.1955 |
|
Date of Appointment : |
08.09.2011 |
|
DIN No.: |
00068577 |
|
|
|
|
Name : |
Lav
Ramji Chaturvedi |
|
Designation : |
Director |
|
Address : |
Golden
Rays, 403-04 Shastri Nagar,, Andheri (West), Mumbai – 400 053, Maharashtra,
India |
|
Date of Birth/Age : |
20.07.1976 |
|
Date of Appointment : |
27.06.2014 |
|
DIN No.: |
02859336 |
|
|
|
|
Name : |
Mr.
Sanjay Tulsio Wadhwa |
|
Designation : |
Whole-time
director |
|
Address : |
H-802,
8th Floor, Royal Fern Great Eastern Garden, L.B.S. Marg, Kanjur
Marg, Mumbai – 400 078, Maharashtra, India |
|
Date of Birth/Age : |
10.10.1973 |
|
Date of Appointment : |
24.06.2014 |
|
DIN No.: |
03329219 |
|
|
|
|
Name : |
Homai
Daruwalla |
|
Designation : |
Additional
Director |
|
Address : |
A-26,
13th Floor, Sterling Apartment, Peddar Road, Mumbai – 400 026, Maharashtra,
India |
|
Date of Appointment : |
31.03.2015 |
|
DIN No.: |
00365880 |
KEY EXECUTIVES
|
Name : |
Mr.
Ashish Dhirajlal Turakhia |
|
Designation : |
Secretary |
|
Address : |
303,
Devaki Apartment, Near Sanyas Ashram, Vithalbhai Road, Vile Parle (West),
Mumbai – 400 056, Maharashtra, India |
|
Date of Birth/ Age : |
08.06.1963 |
|
Date of Appointment : |
01.07.2014 |
|
PAN No.: |
AAAPT3064D |
|
|
|
|
Name : |
Mr.
Manishkumar Anjanikumar Dhanuka |
|
Designation : |
Chief Financial Officer |
|
Address : |
B-606,
Temple View-1, Raheja Township, Near Saidham, Western Express Highway, Malad
(East), Mumbai – 400 097, Maharashtra, India |
|
Date of Birth/ Age : |
16.07.1980 |
|
Date of Appointment : |
01.07.2014 |
|
PAN No.: |
AACPD7590A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 10.09.2014
|
Names of Equity Shareholders |
|
No. of Shares |
|
Reliance Capital Limited, India |
|
24899930 |
|
Reliance Capital Limited jointly with V. R. Mohan |
|
10 |
|
Reliance Capital Limited jointly with Yogesh Deshpande |
|
10 |
|
Reliance Capital Limited jointly with Amit Bapna |
|
10 |
|
Reliance Capital Limited jointly with Parul Jain |
|
10 |
|
Reliance ADA Group Trustees Private Limited as Trustees of Reliance
Securities Limited Employees Benefits Trust, India |
|
100000 |
|
Reliance Capital Limited jointly with Madan Chaturvedi |
|
10 |
|
Reliance Capital Limited jointly with Chetan Raval |
|
10 |
|
Reliance Capital Limited jointly with Atul Tandon |
|
10 |
|
Total |
|
25000000 |
|
Names of Preference Shareholder |
|
No. of Shares |
|
Reliance Capital Limited, India |
|
125000000 |
|
Total |
|
125000000 |
AS ON 10.09.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged into stock broking related
activities. |
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Products/ Services : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
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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Customers : |
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No. of Employees : |
Information declined by the Management. |
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|
Bankers : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
714-715, Tulsiani Chambers, 212, Free Press Journal Marg,
Nariman Point, Mumbai, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFC0662N |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company: |
Reliance Capital Limited (CIN No.: L65910MH1986PLC165645) |
|
|
|
|
Ultimate Holding
Company: |
Reliance Innoventures Private Limited* |
|
|
|
|
Subsidiary Company: |
TransAsia Composite Insurance Broking Limited
(Formerly known as Reliance Composite Insurance Broking Limited) (Wholly owned subsidiary
w.e.f. June 24, 2013) (CIN No.: U65990MH1994PLC082324) |
|
|
|
|
Fellow
Subsidiaries: |
|
Note: * No transaction taken place during the year
CAPITAL STRUCTURE
AS ON 10.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 million |
|
150000000 |
Preference Shares |
Rs.10/- each |
Rs.1500.000 million |
|
|
Total |
|
Rs.2000.000
million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000
million |
|
125000000 |
Preference Shares |
Rs.10/- each |
Rs.1250.000 million |
|
|
Total |
|
Rs.1500.000
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 |
1500.000 |
1500.000 |
1500.000 |
|
(b) Reserves &
Surplus |
(43.321) |
263.950 |
337.476 |
|
(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) |
1456.679 |
1763.950 |
1837.476 |
|
|
|
|
|
|
(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 |
0.576 |
1.275 |
3.882 |
|
Total Non-current
Liabilities (3) |
0.576 |
1.275 |
3.882 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
66.500 |
0.000 |
|
(b) Trade payables |
1725.789 |
1270.450 |
1217.766 |
|
(c) Other current
liabilities |
175.626 |
146.476 |
208.377 |
|
(d) Short-term provisions |
0.076 |
0.143 |
0.862 |
|
Total Current Liabilities
(4) |
1901.491 |
1483.569 |
1427.005 |
|
|
|
|
|
|
TOTAL |
3358.746 |
3248.794 |
3268.363 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i) Tangible assets |
61.040 |
70.409 |
66.462 |
|
(ii) Intangible Assets |
46.465 |
28.482 |
21.692 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
26.900 |
14.900 |
14.900 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
197.136 |
234.589 |
212.898 |
|
(e) Other Non-current
assets |
2.600 |
0.876 |
0.000 |
|
Total Non-Current Assets |
334.141 |
349.256 |
315.952 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
10.000 |
860.000 |
854.000 |
|
(b) Inventories |
291.235 |
0.136 |
0.000 |
|
(c) Trade receivables |
484.244 |
491.392 |
367.638 |
|
(d) Cash and cash
equivalents |
2043.505 |
1336.170 |
899.839 |
|
(e) Short-term loans and
advances |
172.733 |
147.493 |
827.219 |
|
(f) Other current assets |
22.888 |
64.347 |
3.715 |
|
Total Current Assets |
3024.605 |
2899.538 |
2952.411 |
|
|
|
|
|
|
TOTAL |
3358.746 |
3248.794 |
3268.363 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
844.206 |
934.147 |
924.951 |
|
|
|
Other Income |
237.341 |
211.072 |
277.687 |
|
|
|
TOTAL |
1081.547 |
1145.219 |
1202.638 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employees benefits expense |
430.580 |
506.947 |
482.807 |
|
|
|
Other expenses |
903.370 |
683.385 |
617.419 |
|
|
|
TOTAL |
1333.950 |
1190.332 |
1100.226 |
|
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(252.403) |
(45.113) |
102.412 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
8.501 |
1.228 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
(260.904) |
(46.341) |
102.412 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
31.496 |
30.552 |
27.311 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(292.400) |
(76.893) |
75.101 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
15.107 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(292.400) |
(76.893) |
59.994 |
|
|
|
|
|
|
|
|
|
|
INCOME TAX FOR
EARLIER YEARS |
14.871 |
(3.367) |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
13.950 |
87.476 |
277.482 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to Capital Redemption Reserve |
0.000 |
0.000 |
250.000 |
|
|
BALANCE CARRIED
TO THE B/S |
(293.321) |
13.950 |
87.476 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(18.10) |
(8.75) |
3.41 |
|
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 (used in)/Generated
From Operations |
(1069.239) |
74.410 |
(219.372) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(34.64) |
(8.23) |
6.49 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(29.90) |
(4.83) |
11.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(8.78) |
(2.38) |
2.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.20) |
(0.04) |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.04 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.59 |
1.95 |
2.07 |
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 |
1500.000 |
1500.000 |
1500.000 |
|
Reserves & Surplus |
337.476 |
263.950 |
(43.321) |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
1837.476 |
1763.950 |
1456.679 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
66.500 |
0.000 |
|
Total borrowings |
0.000 |
66.500 |
0.000 |
|
Debt/Equity ratio |
0.000 |
0.038 |
0.000 |
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) |
|
Revenue from operations |
924.951 |
934.147 |
844.206 |
|
|
|
0.994 |
(9.628) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Revenue from operations |
924.951 |
934.147 |
844.206 |
|
Profit |
59.994 |
(76.893) |
(292.400) |
|
|
6.49% |
(8.23%) |
(34.64%) |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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) |
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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
SHORT
TERM BORROWINGS |
|
|
|
(Unsecured
repayable on demand) |
|
|
|
Inter
corporate deposit |
|
|
|
-
From related parties |
0.000 |
66.500 |
|
Total |
0.000 |
66.500 |
INDEX
OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10546798 |
26/05/2014 |
500,000,000.00 |
YES BANK LIMITED |
NEHRU CENTRE, 9TH FLOOR,
DISCOVERY OF INDIA, DR. A. B. ROAD, WORLI, MUMBAI, MAHARASHTRA - 400018,
INDIA |
C42324715 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
i. Guarantees given
by scheduled banks |
|
|
|
On behalf of the
Company towards collateral security deposit in favour of Bombay Stock
Exchange Limited |
|
|
|
- Cash Segment |
91.000 |
91.000 |
|
- Futures and Options Segment |
5.000 |
5.000 |
|
On behalf of the Company
towards collateral security deposit in favour of National Stock Exchange
Limited |
|
|
|
- Cash Segment |
0.000 |
0.000 |
|
- Futures and Options Segment |
1348.600 |
1252.500 |
|
ii. Unpaid and undeclared
dividend on 10% cumulative redeemable preference shares (includes dividend
distribution tax) |
980.411 |
835.133 |
|
iii. Capital
Commitments |
|
|
|
Estimated amount of contracts remaining to be executed on
capital account (net of advances) |
0.528 |
5.313 |
FIXED ASSETS:
Tangible Assets
· Furniture and Fixtures
· Office Equipment
· Computer Equipments
· Leasehold Improvements
· Data Processing 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, 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.63.61 |
|
UK Pound |
1 |
Rs.99.79 |
|
Euro |
1 |
Rs.71.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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.