MIRA INFORM REPORT
|
Report No. : |
311206 |
|
Report Date : |
16.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHRI GIRIJA SMELTERS LIMITED (w.e.f. 29.03.2011)) |
|
|
|
|
Formerly Known
As : |
SHRI GIRIJA SMELTERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
10-1-11, Asilmetta Junction, Vizag, Visakhapatnam – 530 001, Andhra
Pradesh |
|
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|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
31.12.1987 |
|
|
|
|
Com. Reg. No.: |
01-008133 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.60.917 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27101AP1987PLC008133 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
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PAN No.: [Permanent Account No.] |
AADCS1438A |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is engaged in the business of manufacturing of
Ferro Alloys. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1232000 |
|
|
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|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an
established company having moderate track. Management has filed
the “Form 20 B” which is annual return for FY 14, whereas seems that they
failed to file Form 23 AC and From 23 ACA after FY12, which depicts financial
statements, with the statutory authorities.
As per available from
indirect source i.e. CRISIL, the management has reported a deterioration in
its business profile owing to closure of two of its four furnaces due to weak
demand, into sharp decline in its revenues as well as is expected to incur
losses during FY 14. However, trade
relations seem to be fair. Business is active. Payment terms are reported as
slow but correct. In view of
extensive experience of the promoters, the company can be considered for
business dealings with caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating: BB |
|
Rating Explanation |
Moderate risk of default regarding timely servicing of financial obligations. |
|
Date |
09.04.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
09.04.2014 |
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.
LOCATIONS
|
Registered Office : |
10-1-11, Asilmetta Junction, Vizag, Visakhapatnam – 530 001, Andhra
Pradesh, India |
|
Tel. No.: |
91-891-2553255 |
|
Fax No.: |
91-891-2553255 |
|
E-Mail : |
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|
|
|
|
Factory : |
Plot No.276-279, Sector-C, Urla Industrial Area, Raipur – 492 003,
Chhattisgarh, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Pericherla Venkata Ramani |
|
Designation : |
Director |
|
Address : |
MIG-225, TPT Colony, Seetammadara, Ne Layout, Visakhapatnam – 530 013,
Andhra Pradesh, India |
|
Date of Birth/Age : |
16.11.1959 |
|
Date of Appointment : |
12.08.1992 |
|
DIN No.: |
01649761 |
|
|
|
|
Name : |
Mr. Sanyasi Raju Chintalapati |
|
Designation : |
Director |
|
Address : |
MIG-225, TPT Colony, Seetammadara, Ne Layout, Visakhapatnam – 530 013,
Andhra Pradesh, India |
|
Date of Birth/Age : |
01.07.1933 |
|
Date of Appointment : |
05.10.1988 |
|
DIN No.: |
01649785 |
|
|
|
|
Name : |
Girija Chintalapati |
|
Designation : |
Director |
|
Address : |
MIG-225, TPT Colony, Seetammadara, Ne Layout, Visakhapatnam – 530 013,
Andhra Pradesh, India |
|
Date of Birth/Age : |
01.01.1937 |
|
Date of Appointment : |
02.09.1991 |
|
DIN No.: |
01649813 |
|
|
|
|
Name : |
Mr. Venkata Satya Surya Raghuramaraju Chintalapati |
|
Designation : |
Director |
|
Address : |
MIG-225, TPT Colony, Seetammadara, Ne Layout, Visakhapatnam – 530 013,
Andhra Pradesh, India |
|
Date of Birth/Age : |
06.05.1963 |
|
Date of Appointment : |
09.03.1988 |
|
DIN No.: |
01649946 |
|
|
|
|
Name : |
Mr. Vamsi Pericherla |
|
Designation : |
Director |
|
Address : |
MIG-225, TPT Colony, Seetammadara, Ne Layout, Visakhapatnam – 530 013,
Andhra Pradesh, India |
|
Date of Birth/Age : |
02.09.1981 |
|
Date of Appointment : |
14.11.2004 |
|
DIN No.: |
02137613 |
MAJOR SHAREHOLDERS
AS ON 31.03.2013
Note:
Shareholders details file attached.
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage of
holding |
|
Bodies corporate |
96.26 |
|
Directors or relatives of Directors |
2.26 |
|
Others |
1.48 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing of
Ferro Alloys. |
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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 |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
Financial Institution : |
PNB Housing Finance Limited, 9th Floor, Antriksh Bhawan,
22, K.G. Marg, New Delhi – 110 001, India |
|
|
|
|
Auditors : |
|
|
Name : |
PS Raju and Company Chartered Accountants |
|
PAN No.: |
ACSPP8605B |
|
|
|
|
Memberships : |
Not Available |
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|
|
|
Collaborators : |
Not Available |
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|
|
|
Other Related
Parties : |
·
Srinivasa Ferro Alloys Limited ·
Deccan Ferro Alloys Private Limited ·
Sri Gayatri Minerals Private Limited |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
61000 |
Equity Shares |
Rs.1000/- each |
Rs.61.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
60917 |
Equity Shares |
Rs.1000/- each |
Rs.60.917 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 |
|
60.917 |
60.917 |
|
(b) Reserves & Surplus |
|
370.245 |
310.075 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
431.162 |
370.992 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
30.932 |
74.469 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) Long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
30.932 |
74.469 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
134.777 |
139.447 |
|
(b) Trade
payables |
|
284.067 |
162.788 |
|
(c) Other
current liabilities |
|
8.125 |
45.836 |
|
(d) Short-term
provisions |
|
22.545 |
23.470 |
|
Total Current
Liabilities (4) |
|
449.514 |
371.541 |
|
|
|
|
|
|
TOTAL |
|
911.608 |
817.002 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
224.815 |
203.969 |
|
(ii)
Intangible Assets |
|
0.530 |
0.489 |
|
(iii)
Capital work-in-progress |
|
0.000 |
1.405 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
210.044 |
129.044 |
|
(c) Deferred tax assets (net) |
|
5.361 |
6.949 |
|
(d) Long-term Loan and Advances |
|
46.282 |
39.357 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
487.032 |
381.213 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
193.600 |
204.519 |
|
(c) Trade
receivables |
|
29.075 |
21.680 |
|
(d) Cash
and cash equivalents |
|
69.277 |
22.012 |
|
(e)
Short-term loans and advances |
|
132.624 |
187.578 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
424.576 |
435.789 |
|
|
|
|
|
|
TOTAL |
|
911.608 |
817.002 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
16.460 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
310.701 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
327.161 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
54.835 |
|
|
2] Unsecured Loans |
|
|
71.283 |
|
|
TOTAL BORROWING |
|
|
126.118 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
453.279 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
150.890 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
34.346 |
|
|
DEFERRED TAX ASSETS |
|
|
8.923 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
136.407 |
|
|
Sundry Debtors |
|
|
23.345 |
|
|
Cash & Bank Balances |
|
|
95.409 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
265.771 |
|
Total
Current Assets |
|
|
520.932 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000 |
|
|
Other Current Liabilities |
|
|
161.523 |
|
|
Provisions |
|
|
100.289 |
|
Total
Current Liabilities |
|
|
261.812 |
|
|
Net Current Assets |
|
|
259.120 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
453.279 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
1698.203 |
1642.215 |
1323.156 |
|
|
|
Other Income |
32.396 |
15.862 |
23.108 |
|
|
|
TOTAL (A) |
1730.599 |
1658.077 |
1346.264 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1003.419 |
1118.863 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
15.764 |
(24.178) |
|
|
|
|
Employee Benefits Expenses |
27.689 |
35.482 |
|
|
|
|
Other Expenses |
520.911 |
430.610 |
|
|
|
|
Extraordinary Items |
0.239 |
2.100 |
|
|
|
|
TOTAL (B) |
1568.022 |
1562.877 |
1238.784 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
162.577 |
95.200 |
107.480 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
57.752 |
17.525 |
7.486 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
104.825 |
77.675 |
99.994 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
13.428 |
11.723 |
9.147 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
91.397 |
65.952 |
90.847 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
31.227 |
23.095 |
33.517 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
60.170 |
42.857 |
57.330 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
987.74 |
703.54 |
3483.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Sales |
(%) |
1.84 |
2.61 |
4.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBDIT/Sales) |
(%) |
9.57 |
5.80 |
8.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.13 |
9.70 |
13.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.18 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.38 |
0.58 |
0.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.94 |
1.17 |
1.99 |
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 |
|
60.917 |
60.917 |
|
Reserves & Surplus |
|
310.075 |
370.245 |
|
Net
worth |
|
370.992 |
431.162 |
|
|
|
|
|
|
long-term borrowings |
|
74.469 |
30.932 |
|
Short term borrowings |
|
139.447 |
134.777 |
|
Total
borrowings |
|
213.916 |
165.709 |
|
Debt/Equity
ratio |
|
0.577 |
0.384 |
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 |
|
Sales |
1,323.156 |
1,642.215 |
1,698.203 |
|
|
|
24.113 |
3.409 |
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
|
1,323.156 |
1,642.215 |
1,698.203 |
|
Profit |
57.330 |
42.857 |
60.170 |
|
|
4.33% |
2.61% |
3.54% |
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS:
|
Particulars |
31.03.2012 Rs. In Million |
31.03.2011 Rs. In Million |
|
LONG TERM BORROWINGS |
|
|
|
Loans from
directors |
30.932 |
73.439 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable
on demand from banks |
134.777 |
139.447 |
|
Total |
165.709 |
212.886 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10425228 |
05/04/2013 |
8,600,053.00 |
PNB
HOUSING FINANCE LIMITED |
9TH FLOOR,
ANTRIKSH BHAWAN, 22 K G MARG, NEW DELHI, DELHI - 110001, INDIA |
B74973090 |
|
2 |
10331085 |
26/11/2011 |
4,750,000,000.00 |
PNB
INVESTMENT SERVICES LIMITED |
10,
RAKESH DEEP BUILDING, YUSUF SARAI COMMERCIAL |
B30348353 |
|
3 |
10275207 |
29/01/2011 |
1,140,000.00 |
TATA
CAPITAL LIMITED |
ONE
FORBES, DR V B GANDHI MARG,FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B08763989 |
|
4 |
10139506 |
19/08/2011
* |
430,000,000.00 |
IDBI
BANK LIMITED |
IDBI
TOWER, WTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B20754172 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No 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.62.67 |
|
|
1 |
Rs.93.16 |
|
Euro |
1 |
Rs.66.42 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
3 |
|
--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 |
|
28 |
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.