MIRA INFORM REPORT
|
Report No. : |
322436 |
|
Report Date : |
15.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
WILHELMSEN SHIP MANAGEMENT (INDIA) PRIVATE LIMITED (w.e.f. 30.01.2008) |
|
|
|
|
Formerly Known
As : |
BARBER SHIP MANAGEMENT (INDIA) PRIVATE LIMITED (w.e.f.
27.10.1998) INDIAN OCEAN SHIP MANAGEMENT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
31/32, Apple Heritage, Plot No 54-C, Sir M V Road, Andheri (East),
Mumbai – 400093, Maharashtra |
|
Tel. No.: |
91-22-30882750 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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|
Date of
Incorporation : |
04.08.1982 |
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|
|
|
Com. Reg. No.: |
11-027931 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U35110MH1982PTC027931 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB00080D |
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|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
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|
Line of Business
: |
Subject is engaged in the business of providing vessel related
services namely Manning, Marine Consultancy and procurement and also
providing Maritime Training. |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually correct |
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|
|
|
Litigation : |
Clear |
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Comments : |
Subject is a part of “The Wilh. Wilhelmsen Group”. Subject is an
established company having satisfactory track record. General financial position of the company seem to be good.
Fundamentals of the company are decent. Trade relations are fair. Business is active. Payments terms are
reported to be usually correct. The company 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.
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 DENIED
Management Non Co-operative (30882750)
LOCATIONS
|
Registered Office : |
31/32, Apple Heritage, Plot No 54-C, Sir M V Road, Andheri (East),
Mumbai – 400093, Maharashtra, |
|
Tel. No.: |
91-22-30882750 |
|
Fax No.: |
91-22-26870977 |
|
E-Mail : |
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|
Website : |
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|
Location: |
Owned |
|
|
|
|
Branch Office : |
Located
At: ·
Chennai ·
Kochi ·
Kolkata ·
New Delhi |
DIRECTORS
AS ON 27.09.2014
|
Name : |
Ms. Mee Yin Soong |
|
Designation : |
Director |
|
Address : |
Flat No. 8C-2-2, Enau Court, Loreng Enau, Kuala Lumpur 55100, Malaysia
|
|
Date of Birth/Age : |
14.04.1999 |
|
Date of Appointment : |
20.08.1966 |
|
DIN No.: |
00966518 |
|
|
|
|
Name : |
Mr. Jaime Anslem Pereira |
|
Designation : |
Director |
|
Address : |
53, Cris Adel, C.S.M. Road, Vakola Bridge, Santacruz (East),
Mumbai-400055, Maharashtra, India |
|
Date of Birth/Age : |
03.07.1965 |
|
Date of Appointment : |
01.02.2007 |
|
DIN No.: |
01251292 |
|
|
|
|
Name : |
Mr. Yashoverman Navin Sharma |
|
Designation : |
Whole Time Director |
|
Address : |
101, Ashok B, Panch Marg, Versova, Mumbai-400061, Maharashtra, India |
|
Date of Birth/Age : |
07.12.1953 |
|
Date of Appointment : |
24.04.2009 |
|
Date of Cessation: |
07.02.2014 |
|
DIN No.: |
02624788 |
|
|
|
|
Name : |
Mr. Carl Christian Schou |
|
Designation : |
Director |
|
Address : |
Sutera Bukit Tunku, Unit No. A, 2-2, No. 20A, Jalan Tun Ismail, Bukit
Tunku, Kuala Lumpur-50480, Malaysia |
|
Date of Birth/Age : |
16.01.1958 |
|
Date of Appointment : |
02.09.2011 |
|
DIN No.: |
03552102 |
MAJOR SHAREHOLDERS
AS ON 27.09.2014
|
Names of Shareholders |
No. of Shares |
|
Wilhelmsen Ship Management Holding Limited (HK), Central Hong Kong |
49999 |
|
Wilhelmsen Ship Management Limited (HK), Central Hong Kong |
1 |
|
Total |
50000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 27.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
100.00 |
%20PRIVATE%20LIMITED%20-%20322436_MIRA%2015-May-2015_files/image016.gif)
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of providing vessel related
services namely Manning, Marine Consultancy and procurement and also
providing Maritime Training. |
|
|
|
|
Products / Services: |
·
Manning Services ·
Trainings ·
Sourcing |
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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 |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
Bank of India |
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Facilities : |
Note :
|
|
Financial Institution: |
Housing Development Finance Corporation Limited, Ramon House, 169, Backbay
Reclamation, H T Parekh Marg, Mumbai – 400020, Maharashtra, India |
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|
|
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Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
5th Floor, Tower D, The Mellenia 1 & 2 Murphy Road, Ulsoor,
Bangalore – 560008, Karnataka, India |
|
Pan No.: |
AADFP9359C |
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|
|
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Holding Company : |
Wilhelmsen Ship Management Holding Private Limited, Hong Kong |
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|
|
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Ultimate Holding Company : |
Wilh. Wilhelmsen Holding ASA, Norway |
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Intermediate Holding Company |
Wilhelmsen Maritime Services As |
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Fellow Subsidiary : |
Wilhelmsen Ship Management Limited, Hong Kong Wilhelmsen Ship Management (Noorway) AS Wilhelmsen Ship Management Singapore Pte. Limited Wilhelmsen Lines Car Carriers Limited Wilhelmsen Ship Management Sdn. Bhd., Malaysia Wilhelmsen Ship Management Korea Limited, Korea Wilhelmsen Smith Bell Manning Inc. Barwill Dubai LLC Wilhelmsen Ship Management d.o.o. Wilhelmsen Marine Personal (Hong Kong) Limited Wilhelmsen Ship Management (USA) Inc. WSM Global Services Limited Wilhelmsen Huayang Ship Service (Sanghai) Company Limited Barber Moss Ship Management AS Golar Wilhelmsen Management AS |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
0.500 |
0.500 |
0.500 |
|
(b) Reserves & Surplus |
45.121 |
41.458 |
46.182 |
|
(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) |
45.621 |
41.958 |
46.682 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
102.788 |
96.904 |
93.677 |
|
(b) Deferred tax liabilities (Net) |
6.606 |
5.256 |
4.972 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
2.745 |
5.067 |
4.332 |
|
Total Non-current
Liabilities (3) |
112.139 |
107.227 |
102.981 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
4.230 |
4.956 |
4.695 |
|
(c) Other
current liabilities |
20.244 |
14.480 |
21.384 |
|
(d) Short-term
provisions |
36.914 |
36.575 |
14.337 |
|
Total Current
Liabilities (4) |
61.388 |
56.011 |
40.416 |
|
|
|
|
|
|
TOTAL |
219.148 |
205.196 |
190.079 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
93.958 |
98.919 |
104.711 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
63.203 |
51.336 |
50.842 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
157.161 |
150.255 |
155.553 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
25.152 |
25.305 |
9.984 |
|
(d) Cash
and cash equivalents |
25.876 |
11.002 |
22.160 |
|
(e)
Short-term loans and advances |
4.134 |
7.583 |
2.382 |
|
(f) Other
current assets |
6.825 |
11.051 |
0.000 |
|
Total
Current Assets |
61.987 |
54.941 |
34.526 |
|
|
|
|
|
|
TOTAL |
219.148 |
205.196 |
190.079 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
217.611 |
203.414 |
167.415 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
217.611 |
203.414 |
167.415 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
156.534 |
158.138 |
148.291 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
61.077 |
45.276 |
19.124 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
24.449 |
17.484 |
9.861 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
36.628 |
27.792 |
9.263 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.408 |
8.383 |
10.812 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
3.252 |
0.926 |
|
|
|
Proposed Final Dividend |
NA |
27.792 |
9.263 |
|
|
|
Tax on Proposed Final Dividend |
NA |
4.723 |
1.503 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
0.408 |
8.383 |
|
|
|
|
|
|
|
|
|
|
EARNING IN
FOREIGN CURRENCY |
169.594 |
166.657 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
732.56 |
555.85 |
185.26 |
|
%20PRIVATE%20LIMITED%20-%20322436_MIRA%2015-May-2015_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20322436_MIRA%2015-May-2015_files/image004.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20322436_MIRA%2015-May-2015_files/image005.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
16.83 |
13.66 |
5.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
27.87 |
22.06 |
10.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.34 |
1.08 |
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.25 |
2.31 |
2.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.01 |
0.98 |
0.85 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
0.500 |
0.500 |
0.500 |
|
Reserves & Surplus |
46.182 |
41.458 |
45.121 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
46.682 |
41.958 |
45.621 |
|
|
|
|
|
|
long-term borrowings |
93.677 |
96.904 |
102.788 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
93.677 |
96.904 |
102.788 |
|
Debt/Equity ratio |
2.007 |
2.310 |
2.253 |
%20PRIVATE%20LIMITED%20-%20322436_MIRA%2015-May-2015_files/image018.gif)
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 |
167.415 |
203.414 |
217.611 |
|
|
|
21.503 |
6.979 |
%20PRIVATE%20LIMITED%20-%20322436_MIRA%2015-May-2015_files/image020.gif)
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 |
167.415 |
203.414 |
217.611 |
|
Profit |
9.263 |
27.792 |
36.628 |
|
|
5.53% |
13.66% |
16.83% |
%20PRIVATE%20LIMITED%20-%20322436_MIRA%2015-May-2015_files/image022.gif)
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 |
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 |
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Million) |
||
|
Current maturities of long-term borrowings – Secured |
0.582 |
0.455 |
0.405
|
|
Current maturities of long-term borrowings – Unsecured |
4.530 |
3.919 |
3.463
|
|
|
|
|
|
|
Total |
5.112 |
4.374 |
3.868
|
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
||||||
|
Long Term Borrowings |
|
|
||||||
|
Foreign currency
loan from Wilhelmsen Ship Management Holding Limited, Hong Kong |
102.232 |
96.595 |
||||||
|
|
|
|
||||||
|
Total |
102.232 |
96.595 |
||||||
|
Note :
|
||||||||
INDEX OF CHARGES :
NO CHARGES EXIST FOR COMPANY
GENERAL
INFORMATION
Subject is engaged in the business of providing vessel related services
namely Manning, Marine Consultancy and procurement to its principal. The
company is and also engaged in providing Maritime Training to its Principal and
others.
FIXED ASSETS:
·
Office Premises
·
Leasehold Improvement
·
Computers
·
Furniture and Fixture
·
Office Equipment
·
Vehicles
·
Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.84 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.72.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
------ |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
51 |
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.