MIRA INFORM REPORT
|
Report No. : |
311521 |
|
Report Date : |
11.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHAH PRECICAST PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E-35, M.I.D.C. Kupwad Block, Bamani Road, Sangli – 416 436,
Maharashtra |
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|
Country : |
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|
|
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Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.06.1997 |
|
|
|
|
Com. Reg. No.: |
11-108807 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.4.150
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28910MH1997PTC108807 |
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|
|
IEC No.: |
Not Available |
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|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
KLPS05500F |
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|
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PAN No.: [Permanent Account No.] |
AAECS8077J |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacturing of steel, stainless
steel and high nickel alloy castings. |
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|
|
No. of Employees
: |
Information declined by the Management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track. As per registrar
of companies the date of balance sheet (i.e. financial filed) is shown as 31.03.2013
but the documents related to financials for the year 2013 is not available
from any source. As per available financial of 2012, the company has huge external
borrowing. Business is active as per status shown in the registrar of companies.
Payment terms are reported to be unknown. The company can be considered for business dealing with great caution.
|
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 |
Long Term Rating: B+ |
|
Rating Explanation |
Risk prone credit quality and carries very high credit risk. |
|
Date |
August, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. Ashok Moreshwar Phadke |
|
Designation : |
Director |
|
Contact No.: |
91-9922441601 |
|
Date : |
10.03.2015 |
LOCATIONS
|
Registered Office/ Factory : |
E-35, M.I.D.C. Kupwad Block, Bamani Road, Sangli – 416 436,
Maharashtra, India |
|
Tel. No.: |
91-233-2264484/ 2644845/ 2645611/ 2643932 |
|
Mobile No : |
91-9822066557 (Mr. Nitin Rasiklal Shah) 91-9922441601 (Mr. Ashok Moreshwar Phadke) |
|
Fax No.: |
91-233-2645612 |
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E-Mail : |
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|
Website : |
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|
Area : |
3000 sq. mtr. |
|
Location : |
Owned |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Nitin Rasiklal Shah |
|
Designation : |
Managing Director |
|
Address : |
Flat No.2, Venkatesh Tulsi Apartments, Near Trikoni Bag, Civil
Hospital Road, Sangli – 416 416, Maharashtra, India |
|
Date of Birth/Age : |
30.03.1961 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
16.06.1997 |
|
PAN No : |
ACZPS9035J |
|
DIN No.: |
00818517 |
|
|
|
|
Name : |
Mrs. Sunita Nitin Shah |
|
Designation : |
Director |
|
Address : |
Flat No.2, Venkatesh Tulsi Apartments, Opposite Trikoni Bag, Sangli –
416 416, Maharashtra, India |
|
Date of Birth/Age : |
19.05.1967 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
02.02.2005 |
|
DIN No.: |
01955266 |
|
|
|
|
Name : |
Mr. Ashok Moreshwar Phadke |
|
Designation : |
Director |
|
Address : |
1047/B/6, Topaz Society, Near Mafatlal Bunglow, Shivaji Nagar, Pune –
411 016, Maharashtra, India |
|
Date of Birth/Age : |
14.07.1942 |
|
Qualification : |
BE |
|
Date of Appointment : |
02.02.2005 |
|
DIN No.: |
00818586 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Nitin Shah |
343500 |
82.77 |
|
Rasiklal Shah |
25850 |
6.23 |
|
Nitin Rasiklal Shah (HUF) |
10000 |
2.41 |
|
Kumudini Shah |
3100 |
0.75 |
|
Sunita Shah |
12250 |
2.95 |
|
Subhash Vakhariya |
7000 |
1.69 |
|
Shashikala Vakhariya |
1800 |
0.43 |
|
Shilpa R. Shah |
2500 |
0.61 |
|
Pradip M. Shah |
3000 |
0.72 |
|
Nilesh M. Shah |
3000 |
0.72 |
|
Ravindra P. Shah |
3000 |
0.72 |
|
Total |
415000 |
100.00 |
AS ON 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of steel, stainless
steel and high nickel alloy castings. |
|
|
|
|
Products : |
|
|
|
|
|
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 : |
Not Divulged |
PRODUCTION STATUS (AS ON 31.03.2012)
|
Particulars |
Unit |
Actual
Production |
|
Steel, ST. Steel, Slag |
M.T. |
2702.933 |
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 : |
· Axis Bank Limited, Trishul, 3rd Floor, Opposite Samartheshwar Temple, Law Garden, Ellisbridge, Ahmedabad – 380 006, Gujarat, India · Union Bank of India |
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Facilities : |
NOTES: LONG TERM
BORROWINGS All Term Loans are mortgaged against entire fixed Assets of the Company (which includes Factory Land and building, plant and machinery) and movable assets, Term Loans disclosed above are due after one year from the reporting period ended. SHORT TERM
BORROWINGS All secured working capital loans are secured against hypothecation of
the stocks and book debts of the company. Loan repayable on demand includes the credit balances in current
accounts due to cheques issued but not presented for payments. |
|
Banking Relations
: |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Joshi Badamikar and Company Chartered Accountants |
|
Address : |
G-2, Kore Universal, Near Railway Gate, Vishrambag, Sangli – 416 415, Maharashtra, India. |
|
Income-tax
PAN of auditor or auditor's firm : |
ABAFS8274M |
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Memberships : |
Not Available |
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|
|
Collaborators : |
Not Available |
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|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
415000 |
Equity Shares |
Rs.10/- each |
Rs.4.150
million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)
Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
4.150 |
4.150 |
|
(b) Reserves & Surplus |
|
54.547 |
45.702 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
4.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
62.697 |
49.852 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
54.943 |
72.320 |
|
(b) Deferred tax liabilities (Net) |
|
10.767 |
11.943 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) Long-term
provisions |
|
2.223 |
29.419 |
|
Total Non-current
Liabilities (3) |
|
67.933 |
113.682 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
202.527 |
223.243 |
|
(b) Trade payables |
|
241.090 |
226.523 |
|
(c) Other
current liabilities |
|
26.529 |
34.280 |
|
(d) Short-term
provisions |
|
11.761 |
6.574 |
|
Total Current
Liabilities (4) |
|
481.907 |
490.620 |
|
|
|
|
|
|
TOTAL |
|
612.537 |
654.154 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
128.040 |
138.905 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
12.650 |
12.650 |
|
(iv)
Intangible assets under development |
|
3.758 |
3.430 |
|
(b) Non-current Investments |
|
0.101 |
0.101 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
6.937 |
39.180 |
|
(e) Other Non-current
assets |
|
1.112 |
1.112 |
|
Total Non-Current
Assets |
|
152.598 |
195.378 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
194.437 |
218.123 |
|
(c) Trade
receivables |
|
162.488 |
154.229 |
|
(d) Cash
and cash equivalents |
|
2.730 |
1.427 |
|
(e)
Short-term loans and advances |
|
93.601 |
84.618 |
|
(f) Other
current assets |
|
6.683 |
0.379 |
|
Total
Current Assets |
|
459.939 |
458.776 |
|
|
|
|
|
|
TOTAL |
|
612.537 |
654.154 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
4.150 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
65.371 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
69.521 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
243.415 |
|
|
2] Unsecured Loans |
|
|
7.067 |
|
|
TOTAL BORROWING |
|
|
250.482 |
|
|
DEFERRED TAX LIABILITIES |
|
|
7.692 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
327.695 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
142.073 |
|
|
Capital work-in-progress |
|
|
12.785 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
2.776 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
111.110
|
|
|
Sundry Debtors |
|
|
76.714
|
|
|
Cash & Bank Balances |
|
|
20.012
|
|
|
Other Current Assets |
|
|
0.350
|
|
|
Loans & Advances |
|
|
54.280
|
|
Total
Current Assets |
|
|
262.466 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
56.660
|
|
|
Other Current Liabilities |
|
|
0.967
|
|
|
Provisions |
|
|
34.795
|
|
Total
Current Liabilities |
|
|
92.422 |
|
|
Net Current Assets |
|
|
170.044
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.017 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
327.695 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
|
|
|
Net Sales |
|
|
252.793 |
|
|
|
Other Income |
|
|
13.751 |
|
|
|
Increase/ Decrease in Stock |
|
|
18.392 |
|
|
|
TOTAL |
707.932 |
508.576 |
284.936 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
679.589 |
505.126 |
284.416 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
28.343 |
3.450 |
0.520 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
17.233 |
18.868 |
8.632 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
11.110 |
(15.418) |
(8.112) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.046 |
4.251 |
5.942 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
10.064 |
(19.669) |
(14.054) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
45.702 |
65.371 |
79.425 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
55.766 |
45.702 |
65.371 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
320.392 |
267.957 |
74.924 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
20.211 |
39.445 |
21.652 |
|
|
TOTAL IMPORTS |
20.211 |
39.445 |
21.652 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
24.25 |
(47.40) |
(33.87) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PAT/Sales) |
(%) |
NA
|
NA |
(4.93)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.86
|
(2.42) |
(2.01)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
(0.31) |
(0.12)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
4.11
|
5.93 |
3.60
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.95
|
0.94 |
2.84
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
4.150 |
4.150 |
|
Reserves & Surplus |
45.702 |
54.547 |
|
Net
worth |
49.852 |
58.697 |
|
|
|
|
|
Long-term borrowings |
72.320 |
54.943 |
|
Short term borrowings |
223.243 |
202.527 |
|
Total
borrowings |
295.563 |
257.470 |
|
Debt/Equity
ratio |
5.929 |
4.386 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
284.936 |
508.576 |
707.932 |
|
|
|
78.488 |
39.199 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
284.936 |
508.576 |
707.932 |
|
Profit |
(14.054) |
(19.669) |
10.064 |
|
|
(4.93%) |
(3.87%) |
1.42% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2012 (Rs.
In Million) |
31.03.2011 (Rs.
In Million) |
31.03.2010 (Rs.
In Million) |
|
Current Maturities
of Long Term Debts |
|
|
|
|
Axis Bank Term Loan |
1.427 |
14.124 |
NA |
|
Axis Bank Car Loan |
0.456 |
0.000 |
NA |
|
Bank of Baroda – Term Loan |
19.916 |
18.384 |
NA |
|
Total |
21.799
|
32.508 |
NA |
|
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 |
Yes |
|
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
No |
|
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 |
No |
|
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 |
Yes |
CHANGE OF ADDRESS
The registered office of the company has been shifted from A-22, Shri
Ram Apartment Opposite Ram Mandir, Nadives Road, Ichalkaranji – 416115, Maharashtra,
India to the present address w.e.f. 22.01.2007.
FUTURE OUTLOOK AND
MARKET CONDITIONS:
Despite recessionary conditions in the economy and general slowdown in the global markets; total turnover of the company has increased considerably as compared to previous year. The management is hopeful that on an improved general economic scenario company could witness further increase in the turnover of the company in the coming future.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10414003 |
23/03/2013 |
15,000,000.00 |
BANK OF BARODA |
MIRAJ BRANCH, HIGH SCHOOL ROAD, MIRAJ - 416410, MAHARASHTRA, INDIA |
B71513279 |
|
2 |
10414010 |
23/03/2013 |
70,000,000.00 |
BANK OF BARODA |
MIRAJ BRANCH, HIGH SCHOOL ROAD, MIRAJ - 416410, MAHARASHTRA, INDIA |
B71516256 |
|
3 |
10205091 |
10/02/2010 * |
87,300,000.00 |
BANK OF BARODA |
MIRAJ BRANCH, HIGH SCHOOL ROAD, MIRAJ - 416410, MAHARASHTRA, INDIA |
A81022444 |
|
4 |
10205092 |
23/03/2013 * |
155,000,000.00 |
BANK OF BARODA |
MIRAJ BRANCH, HIGH SCHOOL ROAD, MIRAJ - 416410, MAHARASHTRA, INDIA |
B71518724 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2012 (Rs.
In Million) |
31.03.2011 (Rs.
In Million) |
|
LONG TERM
BORROWINGS |
|
|
|
Deferred payment liabilities (Sales Tax) |
6.918 |
7.067 |
|
Cicaqo Commodities Private Limited |
3.000 |
0.000 |
|
SHORT TERM
BORROWINGS |
|
|
|
Axis Bank C/A 11990 |
0.350 |
(0.367) |
|
Bank of Baroda-C/A 319 |
4.743 |
(1.022) |
|
Axis Bank Ca/C 6071 |
10.417 |
3.958 |
|
Deferred payment liabilities (Sales Tax) |
0.149 |
0.000 |
|
Other loan and advances (Advance for Office Place KLP) |
2.200 |
0.000 |
|
Total |
27.777 |
9.636 |
|
NOTE LONG TERM
BORROWINGS Deferred payment liabilities mentioned above relates to Sales Tax Deferral Loan as per Package Scheme of Incentives which is due after one year from the reporting period ended. SHORT TERM BORROWINGS Deferred payment liabilities mentioned above relates to Sales Tax Deferral Loan as per package Scheme of incentives which is due within one year from the reporting period ended. |
||
FIXED ASSETS
· Land
· Office Building
· Factory Building
· Plant and Machinery
· Furniture
· Computer
· Vehicle
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 records 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 records 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.62.70 |
|
|
1 |
Rs.94.55 |
|
Euro |
1 |
Rs.67.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
-- PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.