MIRA INFORM REPORT
|
Report No. : |
322019 |
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Report Date : |
11.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
SURYA ALLOY INDUSTRIES LIMITED (w.e.f. 22.10.2007) |
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Formerly Known
As : |
SURYA ALLOY INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
1/1, Camac Street, 3rd Floor, Kolkata – 700016, West Bengal |
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Tel. No.: |
91-33-22298877 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
01.11.1990 |
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Com. Reg. No.: |
21-050102 |
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Capital
Investment / Paid-up Capital : |
Rs.99.600 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
U27104WB1990PLC050102 |
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|
|
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TAN No.: [Tax Deduction &
Collection Account No.] |
CALS04850G |
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|
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PAN No.: [Permanent Account No.] |
AADCS5890E |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Steel, Railway Track Materials and Ferro Alloys. |
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No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (16) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of delays by Surya Alloy in
servicing its debt and the delays have been caused by the company’s weak
liquidity. Further rating also takes into consideration the weak operational performance
and losses incurred from its operational activities. Business is active. Payments are reported to be slow and delayed. The company can be considered for business dealings on safe and
secured trade terms and conditions. |
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 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating=D |
|
Rating Explanation |
Lowest credit quality very low prospects of
recovery. |
|
Date |
18.11.2014 |
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Neela |
|
Designation : |
Admin Department |
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Contact No.: |
91-33-22297190 |
|
Date : |
11.05.2015 |
LOCATIONS
|
Registered Office : |
1/1, Camac Street, 3rd Floor, Kolkata – 700016, West Bengal, India |
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Tel. No.: |
91-33-22298877 |
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Fax No.: |
91-33-22297223 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory 1 : |
Village-Ghutgoria, Barjora Maliara Road, P.O. Barjora, District Bankura – 722202, West Bengal, India |
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Factories : |
Also Located at:
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DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Ashish Rungta |
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Designation : |
Managing director |
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Address : |
5K, New Road, Alipore, Kolkata – 700027, West Bengal, India |
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Date of Birth/Age : |
23.06.1977 |
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Date of Appointment : |
01.01.2013 |
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DIN No.: |
00394925 |
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Other Directorship:
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Name : |
Mr. Sandip Chakraborty |
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Designation : |
Additional Director |
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Address : |
Anandnagar, Parbangla, Batanagar, Kolkata – 700140, West Bengal, India |
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Date of Appointment : |
08.01.2015 |
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DIN No.: |
07062067 |
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Name : |
Mr. Anil Kumar Parmar |
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Designation : |
Nominee Director |
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Address : |
Flat No 10a, Vrindavan Apartment, 67A, Ballygaunge Circular Road, Kolkata – 700019, West Bengal, India |
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Date of Birth/Age : |
19.01.1958 |
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Date of Appointment : |
24.03.2014 |
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DIN No.: |
06746988 |
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KEY EXECUTIVES
|
Name : |
Mr. Chandan Tripathi |
|
Designation : |
Secretary |
|
Address : |
129, Naba Mahajati Road, 2nd Floor, Room No. 3B, Guhapara, Nalta, Kolkata – 700028, West Bengal, India |
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Date of Birth/Age : |
05.07.1985 |
|
Date of Appointment : |
12.06.2014 |
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PAN No.: |
AOWPT6669L |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Ashish Rungta |
88530 |
0.89 |
|
Bengal General Trading Company Private Limited, India |
2335000 |
23.44 |
|
Tulsyan and Sons Private Limited, India |
2234500 |
22.43 |
|
Whitestone Consultants Private Limited, India |
1509000 |
15.15 |
|
Bhaskar Ispat Private Limited, India |
2872500 |
28.84 |
|
Vaibhav Vinimay Private Limited, India |
900000 |
9.04 |
|
Urmila Rungta |
20470 |
0.21 |
|
|
|
|
|
Total |
9960000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
98.91 |
|
Directors or relatives of Directors |
1.09 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Steel, Railway Track Materials and Ferro Alloys. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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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
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Suppliers : |
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Customers : |
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No. of Employees : |
1000 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Goenka Baheti and Associates Chartered Accountants |
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Address : |
4B, Ganpat Bagla Road, Kolkata – 700007, West Bengal, India |
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PAN No.: |
AAFFB5597E |
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Membership : |
-- |
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Enterprises owned
or significantly influenced by key management personnel or their relatives : |
· Amby Properties Private Limited · Bengal General Trading Company Private Limited · Bhaskar Industrial Developments Limited · Bhaskar Ispat Private Limited · Bhaskar Properties Private Limited · Bhaskar Shrachi Alloys Limited · Mak Engineering Industries Limited · Manash Forgings Private Limited · Parth Ispat (India) Private Limited · Tirumala Balaji Alloys Private Limited · Tirupathi Properties & Investment Private Limited · Tulsyan and Sons Private Limited · Vaibhav Vinimay Private Limited · Vashita Properties Private Limited · Whitestone Consultants Private Limited. |
CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Million |
|
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9960000 |
Equity Shares |
Rs.10/- each |
Rs.99.600 Million |
|
|
|
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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 |
99.600 |
95.600 |
95.600 |
|
(b) Reserves & Surplus |
438.682 |
759.370 |
945.531 |
|
(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) |
538.282 |
854.970 |
1041.131 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1798.016 |
1533.545 |
420.471 |
|
(b) Deferred tax liabilities (Net) |
82.866 |
82.866 |
82.866 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
5.055 |
4.217 |
2.155 |
|
Total Non-current
Liabilities (3) |
1885.937 |
1620.628 |
505.492 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
645.060 |
637.764 |
1421.041 |
|
(b) Trade
payables |
433.625 |
425.331 |
489.548 |
|
(c) Other
current liabilities |
180.387 |
164.114 |
449.735 |
|
(d) Short-term
provisions |
0.454 |
0.354 |
1.425 |
|
Total Current
Liabilities (4) |
1259.526 |
1227.563 |
2361.749 |
|
|
|
|
|
|
TOTAL |
3683.745 |
3703.161 |
3908.372 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1516.957 |
1571.048 |
1605.404 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.628 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
27.000 |
27.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.244 |
3.167 |
0.942 |
|
(e) Other
Non-current assets |
4.550 |
4.550 |
4.550 |
|
Total Non-Current
Assets |
1524.751 |
1605.765 |
1638.524 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
609.560 |
528.176 |
589.513 |
|
(c) Trade
receivables |
1083.329 |
985.315 |
1194.015 |
|
(d) Cash
and cash equivalents |
77.538 |
229.747 |
68.510 |
|
(e)
Short-term loans and advances |
385.408 |
350.525 |
414.471 |
|
(f) Other
current assets |
3.159 |
3.633 |
3.339 |
|
Total
Current Assets |
2158.994 |
2097.396 |
2269.848 |
|
|
|
|
|
|
TOTAL |
3683.745 |
3703.161 |
3908.372 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3422.004 |
3430.494 |
3972.328 |
|
|
|
Other Income |
3587.538 |
3556.471 |
25.596 |
|
|
|
TOTAL (A) |
7009.542 |
6986.965 |
3997.924 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
2652.458 |
2503.653 |
3127.223 |
|
|
|
Purchase of Stock-in-trade |
0.000 |
0.000 |
38.324 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(40.477) |
(25.598) |
(13.869) |
|
|
|
Employee Benefits Expenses |
74.284 |
70.171 |
59.016 |
|
|
|
Other Expenses |
4334.400 |
4301.257 |
630.767 |
|
|
|
Prior Period Items |
(0.579) |
(0.831) |
0.000 |
|
|
|
TOTAL (B) |
7020.086 |
6848.652 |
3841.461 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(10.544) |
138.313 |
156.463 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
245.972 |
238.014 |
258.240 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
(256.516) |
(99.701) |
(101.777) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
90.182 |
86.461 |
81.683 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G)
|
(346.698) |
(186.162) |
(183.460) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.053 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
(346.698) |
(186.162) |
(183.513) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY ON FOB |
0.000 |
381.299 |
84.932 |
|
|
|
|
|
|
|
|
|
|
TOTAL IMPORTS |
12.815 |
266.214 |
156.929 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(34.81) |
NA |
(22.41) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
(10.13) |
(5.43) |
(4.62) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(0.31) |
4.03 |
3.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
(9.41) |
(5.06) |
(4.73) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.64) |
(0.22) |
(0.18) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.54 |
2.54 |
1.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.71 |
1.71 |
0.96 |
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 |
95.600 |
95.600 |
99.600 |
|
Reserves & Surplus |
945.531 |
759.370 |
438.682 |
|
Net
worth |
1041.131 |
854.970 |
538.282 |
|
|
|
|
|
|
long-term borrowings |
420.471 |
1533.545 |
1798.016 |
|
Short term borrowings |
1421.041 |
637.764 |
645.060 |
|
Total
borrowings |
1841.512 |
2171.309 |
2443.076 |
|
Debt/Equity
ratio |
1.769 |
2.540 |
4.539 |
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 |
3972.328 |
3430.494 |
3422.004 |
|
|
|
(13.640) |
(0.247) |
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
|
3972.328 |
3430.494 |
3422.004 |
|
Profit |
(183.513) |
(186.162) |
(346.698) |
|
|
(4.62%) |
(5.43%) |
(10.13%) |
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 |
Yes |
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Term loans from
others |
170.352 |
37.367 |
|
|
|
|
|
Total |
170.352 |
37.367 |
FINANCIAL HIGHLIGHTS
During the year,
the gross sales and net sales for the year stood at Rs. 4089.400 Million and Rs.
3572.800 Million respectively. Slowdown in steel sector resulted in net loss
stood at Rs. 347.300 Million as against Rs. 187.000 Million in the previous
year, mainly due to persistent higher cost of production of steel and increase
in power tariff.
FUTURE PROSPECT
The Global Steel
industry continues to witness stable but slower growth in a period of economic
uncertainties. India remains a bright spot in the Global Steel industry and is
the world’s fourth largest crude steel producer. The anticipated infrastructure
development and supportive Govt. measures in the country is expected to give
further boost to the steel industry and your company is looking forward for a
sustainable growth in the coming years.
Steel Industry is
vital for overall economic development of any nation being one of the core
sectors; the Indian economy’s outlook for 2014-15 can be viewed as cautiously
optimistic. In the medium term on the back of reforms, industrialization and
growing urbanization considering the policy actions announced at the recent
budget, it is projected that India would returned to the robust growth of 7 to
8% in next 2 to 3 years.
Considering the
forecasted in the economy as a whole and steel industry in particular your
Company will continue to focus on its own consolidation strategy coupled with
enhancing its entranced value for the benefit of the shareholders at large
LITIGATION
DETAILS:
|
CALCUTTA HIGH COURT Case
Status : Pending
|
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10426655 |
16/05/2013 |
3,156,400,000.00 |
Punjab National Bank |
Large
Corporate Branch, 44, Park Street, Kolkata, |
B75462887 |
|
2 |
10423119 |
10/07/2014 * |
3,351,200,000.00 |
Punjab National Bank |
Large Corporation Branch, 44, Park Street, Kolkata, West Bengal - 700016, India |
C14997357 |
|
3 |
10274142 |
29/01/2011 |
4,000,000.00 |
Kotak Mahindra Bank Limited |
36-38a, Nariman Bhavan, 227,D,, Nariman Point,, Mumbai, Maharashtra - 400021, India |
B08661944 |
|
4 |
10187377 |
12/06/2013 * |
3,156,400,000.00 |
State Bank Of India |
Commercial Branch, Kolkata, 24, Park Street, Kolkata, West Bengal - 700016, India |
B78398641 |
|
5 |
10188961 |
18/11/2009 |
70,000,000.00 |
State Bank Of Indore |
9, Brabourne Raod, Kolkata, West Bengal - 700001, India |
A74568536 |
|
6 |
10194102 |
21/12/2011 * |
335,000,000.00 |
United Bank Of India |
Old Court House Street Branch, 11, Hemanta Basu Sarani, Kolkata, West Bengal - 700001, India |
B28560878 |
|
7 |
10181994 |
11/11/2011 * |
123,500,000.00 |
State Bank of Bikaner & Jaipur |
N. S. Road Branch,, 14, N. S. Road,, Kolkata, West Bengal - 700001, India |
B26791434 |
|
8 |
10157770 |
12/06/2013 * |
3,156,400,000.00 |
State Bank of India |
Commercial Branch, Kolkata, 24, Park Street, Kolkata, West Bengal - 700016, India |
B78400702 |
|
9 |
10063387 |
26/03/2014 * |
3,156,600,000.00 |
Indian Overseas Bank |
Jawaharlal Nehru Road Branch (Title Deed Holder), 35/1, Jawaharlal Nehru Road, Kolkata, West Bengal - 700072, India |
C07115611 |
|
10 |
10057484 |
30/04/2007 |
47,800,000.00 |
Indian Overseas Bank |
Tegharia Branch, 137, Poddar Vihar, V. I. P. Road, Kolkata, West Bengal - 700052, India |
A16982985 |
|
11 |
80032787 |
07/09/2009 * |
525,000,000.00 |
State Bank of India |
Commercial Branch, Kolkata, 24 Park Street, Kolkata, West Bengal - 700016, India |
A69497550 |
|
12 |
80046828 |
05/11/2008 * |
135,000,000.00 |
West Bengal Industrial Development Corp. Ltd |
5 Council House St., Kolkata, West Bengal - 700001, India |
A50622430 |
|
13 |
90255498 |
07/09/2006 * |
150,000,000.00 |
Indian Overseas Bank |
Tegharia Branch, 137, Poddar Vihar, V. I. P. Road, Kolkata, West Bengal - 700052, India |
- |
|
14 |
90254478 |
07/09/2006 * |
73,500,000.00 |
Indian Overseas Bank |
Jawaharlal Nehru Road Branch, 35/1, Jawaharlal Nehru Road, Kolkata, West Bengal - 700071, India |
- |
|
15 |
90255270 |
07/09/2006 * |
90,000,000.00 |
Indian Overseas Bank |
Tegharia Branch, 137, Poddar Vihar, V. I. P. Road, Kolkata, West Bengal - 700052, India |
- |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other official
proceeding for making any prohibited payments or other improper payments to
government officials for engaging in prohibited transactions or with designated
parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.05 |
|
|
1 |
Rs.99.04 |
|
Euro |
1 |
Rs.71.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
16 |
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.