MIRA INFORM REPORT

 

 

Report No. :

321936

Report Date :

13.05.2015

 

IDENTIFICATION DETAILS

 

Name :

SIGMA MINERALS LIMITED

 

 

Formerly Known As :

SIGMA MINERALS PRIVATE LIMITED

 

 

Registered Office :

4, Heavy Industrial Area, Jodhpur – 342003, Rajasthan

Tel. No.:

91-291-2740970 (Ten lines) / 2741108

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

01.10.1991

 

 

Com. Reg. No.:

006231

 

 

Capital Investment / Paid-up Capital :

Rs.31.800 Million

 

 

CIN No.:

[Company Identification No.]

U14219RJ1991PLC006231

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer of Hydrated Lime and Quick Lime.

 

 

No. of Employees :

61 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (50)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well-established company having fine track.

 

The company has reported another good financial year performance. The company has sound profitability and strong liquidity position during FY 2014. Overall financials are satisfactory.

 

Trade relations are fair. Business is active. Payment terms are reported to be regular and as per commitments.

 

In view of aforesaid, subject can be considered normal for business dealings at usual 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

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

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. Kavita

Designation :

Front Desk Officer

Contact No.:

91-291-2740970

Date :

12.03.2015

 

 

LOCATIONS

 

Registered Office :

4, Heavy Industrial Area, Jodhpur – 342003, Rajasthan, India

Tel. No.:

91-291-2740970 (Ten lines) / 2741108

Fax No.:

91-291-2740664 

E-Mail :

info@sigmaminerals.com

Website :

http://www.sigmaminerals.com

Location :

Owned [Commercial]

 

 

Unit 1 :

No. of Plants: 4, No. of Kilns:9, Village : Khejarla,  Tehsil : Bilara,  District  Jodhpur, Rajasthan, India

Area :

1,20,000 Square Metres

 

 

Unit 2 :

No. of Plants: 3, No. of Kilns:11, Village : Basni Harisingh,  Tehsil : Bhopalgarh District Jodhpur, Rajasthan, India

Area :

40,000 square meters

 

 

Unit 3 :

Lime Kiln of 300 tpd Village : Basni Harisingh  Tehsil : Bhopalgarh District : Jodhpur, Rajasthan, India

Area :

50,000 square meters

 

 

Mines:

Located At:

 

  • Village : Sambharia, Tehsil : Bilara, District : Jodhpur, Rajasthan, India
  • Village : Manakpur, Tehsil : Nagaur, District : Nagaur, Maharashtra, India
  • Village : Bhavanda, Tehsil : Khimsar, District : Nagaur Maharashtra, India

 

 

DIRECTORS

 

AS ON 11.08.2014

 

Name :

Om Prakash Phophalia

Designation :

Whole-Time Director

Address :

D-13, Kamla Nehru Nagar, Extension I, Jodhpur - 342009, Rajasthan, India

Date of Birth/Age :

21.05.1947

Date of Appointment :

18.11.1991

DIN No.:

00169371

 

 

Name :

Ashok Mohta

Designation :

Whole-Time Director

Address :

533A, Sardarpura, 8th B Road, Jodhpur - 342003, Rajasthan, India

Date of Birth/Age :

29.08.1972

Date of Appointment :

18.11.1991

DIN No.:

00170938

 

 

Name :

Surendra Nath Bhargava

Designation :

Managing Director

Address :

D-1,Kamla Nehru Nagar Extension I, Jodhpur, 342009, Rajasthan, India

Date of Birth/Age :

11.08.1947

Date of Appointment :

01.10.1991

DIN No.:

00170998

 

 

Name :

Thakur Das Boob

Designation :

Whole-Time Director

Address :

B-112, Kamla Nehru Nagar, Extension I, Jodhpur - 342009, Rajasthan, India

Date of Birth/Age :

20.04.1946

Date of Appointment :

15.01.1993

DIN No.:

00171092

 

 

Name :

Sandeep Phophaliya

Designation :

Director

Address :

D-13, Kamla Nehru Nagar, Extension I, Jodhpur - 342009, Rajasthan, India

Date of Birth/Age :

04.02.1974

Date of Appointment :

01.04.1999

DIN No.:

00181970

 

Name :

Vishal Boob

Designation :

Whole-Time Director

Address :

B-112, Kamla Nehru Nagar, Extension I, Jodhpur - 342009, Rajasthan, India

Date of Birth/Age :

27.03.1973

Date of Appointment :

30.04.1996

DIN No.:

00186659

 

 

Name :

Tilok Prakash Gaggar

Designation :

Director

Address :

39, Behind Masuria Police Chowki, Meghwal Colony, Jodhpur - 342003, Rajasthan, India

Date of Appointment :

01.07.2009

DIN No.:

00232615

 

 

Name :

Sonu Bhargava

Designation :

Whole-Time Director

Address :

D-1, Kamla Nehru Nagar, Extension I, Jodhpur - 342009, Rajasthan, India

Date of Birth/Age :

14.03.1973

Date of Appointment :

04.04.1999

DIN No.:

00254188

 

 

Name :

Devender Swaroop Mittal

Designation :

Director

Address :

B-31, Shastri Nagar, Jodhpur - 342003, Rajasthan, India

Date of Birth/Age :

15.06.1943

Date of Appointment :

30.01.2009

DIN No.:

02585174

 

 

KEY EXECUTIVES

 

Name :

Ms. Kavita

Designation :

Front Desk Officer

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 11.08.2014

 

SHAREHOLDERS DETAILS FILE ATTACHED

 

AS ON 11.08.2014

 

Equity Share Break up (Percentage of Total Equity)

 

 

Category

Percentage

Bodies corporate

1.89

Directors or relatives of Directors

98.11

 

 

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Hydrated Lime and Quick Lime.

 

 

Products :

Not Available

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

 

Selling :

Cash, Cheque and Credit (30 days / 60 days / 90 days)

 

 

Purchasing :

Cash, Cheque and Credit (30 days / 60 days / 90 days)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

61 (Approximately)

 

 

Bankers :

Bank Name

HDFC Bank Limited

Branch

HDFC Bank Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

Punjab National Bank, Ratanada Colony, Jodhpur - 342006, Rajasthan, India

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Term loans

 

 

From Banks

 

 

HDFC Bank Limited

[Wind Mill Loan payable in 60 equal monthly installment @BR+1.40% p.a. balance outstanding payable in 34 monthly installments (P.Y. balance pertains to 46 Installments)]

13.447

17.197

HDFC Bank Limited

[Quick Lime plant Loan payable in 61 equal monthly installment @BR+1.40% p.a. balance outstanding payable in 48 monthly installments (P.Y. balance pertains to 60 Installments)]

13.515

8.849

HDFC Bank Limited

[New Lime plant Loan payable in 60 equal monthly installment @BR+1.40% p.a. balance outstanding payable in 59 monthly installments (P.Y. balance pertains to nil Installments)]

21.133

0.000

Axis Bank Limited

[Vehicle loan payable in 36 equal monthly installments @ 9.25% p.a. balance pertains to nil (previous year balance pertains to 11 installments) ]

0.000

0.502

Axis Bank Limited

[Vehicle loan payable in 36 equal monthly installments @ 10.50% p.a. balance pertains to 16 monthly installments due from April, 2014 (previous year balance pertains to 28 installments) ]

0.507

0.844

Volkswagen Finance Private Limited

[Vehicle loan payable in 36 equal monthly installments @ 6.97% p.a. balance pertains to 20 monthly installments due from April, 2014 (previous year balance pertains to 32 installments) ]

0.540

0.837

Short-term borrowings

 

 

Loans repayable

 

 

From Bank Secured

 

 

Cash Credit

[Secured hypothecation of movable assets including stock and book debts]

53.518

60.251

 

 

 

Total

102.660

88.480

 

Auditors :

 

Name :

N. R. Dhoot and Company

Chartered Accountants

Address :

701, Jesal Apartment, Shreenath Nagar, Gilbert Hill Road, Andheri (West),  Mumbai – 400058, Maharashtra, India

Tel. No.:

91-22-32974349

Mobile No.:

91-9821220872

E-Mail :

Nareshdhoot7@hotmail.com

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

ABSPD5466G

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Enterprises where key managerial person and / or relative of such personnel have significant influence :
  • Sigma Infosolutions Limited
  • Sandune Minerals Private Limited
  • R J Engineering Company and Iron Re-rolling Mills

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5,000,000

Equity Shares

Rs.10/- each

Rs.50.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

3,180,000

Equity Shares

Rs.10/- each

Rs.31.800 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

31.800

31.800

31.800

(b) Reserves & Surplus

185.504

136.300

103.968

(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)

217.304

168.100

135.768

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

126.466

106.408

72.149

(b) Deferred tax liabilities (Net)

19.297

17.999

15.983

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

145.763

124.407

88.132

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

53.518

60.251

100.959

(b) Trade payables

1.137

1.259

2.269

(c) Other current liabilities

11.781

5.400

4.038

(d) Short-term provisions

0.000

7.441

7.392

Total Current Liabilities (4)

66.436

74.351

114.658

 

 

 

 

TOTAL

429.503

366.858

338.558

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

163.798

160.066

138.006

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

49.249

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

0.220

0.260

0.300

Total Non-Current Assets

213.267

160.326

138.306

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

9.022

14.018

4.859

(b) Inventories

49.976

58.165

75.213

(c) Trade receivables

134.947

113.543

104.153

(d) Cash and cash equivalents

3.721

4.755

3.024

(e) Short-term loans and advances

18.570

16.051

13.003

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

216.236

206.532

200.252

 

 

 

 

TOTAL

429.503

366.858

338.558

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

684.489

609.423

497.331

 

Other Income

22.690

22.964

14.848

 

TOTAL (A)

707.179

632.387

512.179

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

 

 

 

 

Raw Material Consumed

392.459

345.429

276.789

 

store and spares Consumed

4.841

5.412

2.678

 

packaging material Consumed

49.646

45.734

34.941

 

Purchases of Stock-in-Trade

17.933

22.202

19.999

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

0.540

0.032

(0.577)

 

Employees benefits expense

76.634

67.702

56.031

 

Other expenses

67.612

59.354

46.689

 

TOTAL (B)

609.665

545.865

436.550

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

97.514

86.522

75.629

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

15.393

17.525

18.226

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

82.121

68.997

57.403

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

9.615

8.820

7.400

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

72.506

60.177

50.003

 

 

 

 

 

Less

TAX (H)

23.294

19.511

15.158

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

49.212

40.666

34.845

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

4.501

3.968

6.802

 

 

 

 

 

Add

Earlier year excess proposed dividend and dividend distribution tax

(0.010)

(0.893)

(0.287)

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

31.800

31.800

30.000

 

Dividend

0.000

6.360

6.360

 

Tax on Dividend

0.000

1.080

1.032

 

Total (M)

31.800

39.240

37.392

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

21.903

4.501

3.968

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

2.434

2.310

2.073

 

TOTAL EARNINGS

2.434

2.310

2.073

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

0.000

0.000

1.372

 

Components and Stores parts

0.000

0.000

0.000

 

Capital Goods

15.055

0.000

0.000

 

TOTAL IMPORTS

15.055

0.000

1.372

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

15.48

12.79

10.96

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

7.19

6.67

7.01

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

14.25

14.20

15.21

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

19.07

16.40

14.77

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.33

0.36

0.37

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.83

0.99

1.28

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

3.25

2.78

1.75

 

 

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

31.800

31.800

31.800

Reserves & Surplus

103.968

136.300

185.504

Share Application money pending allotment

0.000

0.000

0.000

Net worth

135.768

168.100

217.304

 

 

 

 

long-term borrowings

72.149

106.408

126.466

Short term borrowings

100.959

60.251

53.518

Total borrowings

173.108

166.659

179.984

Debt/Equity ratio

1.275

0.991

0.828

 

 

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

497.331

609.423

684.489

 

 

22.539

12.318

 

 

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

497.331

609.423

684.489

Profit

34.845

40.666

49.212

 

7.01%

6.67%

7.19%

 

 

 

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

--

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

No

 

UNSECURED LOAN

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Term loans from other parties

 

 

Others – guaranteed by the directors

77.324

78.179

Total

77.324

78.179

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10516800

08/08/2014

334,650.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W 
, MUMBAI, MAHARASHTRA - 400013, INDIA

C18316398

2

10239068

27/08/2014 *

337,314,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W 
, MUMBAI, MAHARASHTRA - 400013, INDIA

C19207091

 

* Date of charge modification

 

Results of operation

 

During the year, the company has scaled new heights and set new benchmarks in terms of sales, profit and networth. This can be claimed as an extremely efficient and competent performance by the company with growth in earnings amidst extraordinary challenges of price volatility and rising costs.

 

Also the comp-any was able to generate power units from its windmill at Barmer (Rajasthan), which can be certainly asserted as a remarkable operational performance for production of renewal energy.

 

NOTE

 

The registered office of the company has been shifted from D-1, Kamla Nehru Nagar, Extension 1, Jodhpur - 342009, Rajasthan, India to the present address w.e.f.  01.04.2011.

 

 

 

 

 

FIXED ASSETS

 

  • Land
  • Wind Mill (Barmer)
  • Office Building
  • Factory Building
  • Plant and Machinery
  • Vehicle
  • Motor Car
  • Furniture and Fixture
  • Office equipment
  • Computers

 

 

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 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.64.20

UK Pound

1

Rs.100.03

Euro

1

Rs.71.91

 

 

INFORMATION DETAILS

 

Information Gathered by :

MNJ

 

 

Analysis Done by :

SUM

 

 

Report Prepared by :

SNT

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

6

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--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

 

50

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.