MIRA INFORM REPORT

 

 

Report No. :

348050

Report Date :

04.11.2015

 

IDENTIFICATION DETAILS

 

Name :

EON HADAPSAR INFRASTRUCTURE PRIVATE LIMITED

 

 

Registered Office :

Tech Park One, Tower E, S. No. 191/ A/ 2A/ 1/ 2, Next to Don Bosco School, Off. Airport Road, Yerawada, Pune – 411006, Maharashtra

Tel. No.:

91-20-66473200

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

31.08.2004

 

 

Com. Reg. No.:

11-140101

 

 

Capital Investment / Paid-up Capital :

Rs.11.500 Million

 

 

CIN No.:

[Company Identification No.]

U74210PN2004PTC140101

 

 

IEC No.:

0305048830

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AADCP3598A

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Subject is engaged in the business of real estate development and sale.

 

 

No. of Employees :

Information declined by the management.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (26)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 830000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated in the year 2004. It is having moderate track.

 

Rating takes into consideration moderate financial risk profile of the company marked by highly leveraged capital structure in FY14.

 

The company has reported significant increase in its sales turnover in the year under consideration along with minimal profit earned as against previous year losses.

 

Trade relations are fair. Business is active. Payment terms are reported to be slow but correct.

 

In view of high external borrowings, the company can be considered for business dealings with some 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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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

 

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 31-03-2015.

 

INFORMATION DENIED BY

 

Name :

Mr. Shrikant

Designation :

Accountant

Contact No.:

91-20-66473200

Date :

02.11.2015

 

 

LOCATIONS

 

Registered Office / Administrative Office :

Tech Park One, Tower E, S. No. 191/ A/ 2A/ 1/ 2, Next to Don Bosco School, Off. Airport Road, Yerawada, Pune – 411006, Maharashtra, India

Tel. No.:

91-20-66473200 / 66473100

Fax No.:

91-20-66473101

E-Mail :

secretarial@panchshil.com

 

 

DIRECTORS

 

As on 23.09.2014

 

Name :

Mr. Sagar Ishwardas Chordia

Designation :

Managing Director

Address :

Flat No. 1002, Silver Woods, Pingale Wasti, Mundhwa Road, Hadapsar, Pune - 411036, Maharashtra, India

Date of Birth/Age :

05.07.1972

Date of Appointment :

01.04.2006

DIN No.:

00054123

 

 

Name :

Mr. Atul Ishwardas Chordia

Designation :

Director

Address :

S. No. 37/I, Ghorpadi, Next to A.B.C. Farm, Pune - 411036, Maharashtra, India

Date of Birth/Age :

13.03.1965

Date of Appointment :

01.09.2004

PAN No.:

AAPPC7612R

DIN No.:

00054998

 

 

Name :

Ankita Singh

Designation :

Director

Address :

A/24, Central Park, Andheri Kurla Road, Chakala, Andheri (East), Mumbai, 400093, Maharashtra, India

Date of Appointment :

19.03.2015

DIN No.:

07038161

Other Directorship :

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

L28999GJ1992PLC018570

GUJARAT FOILS LIMITED

Director

23/09/2015

04/02/2015

-

Active

NO

2

U45200PN2005PTC139812

PANCHSHIL TECHPARK PRIVATE LIMITED

Director

28/09/2015

20/02/2015

-

Active

NO

3

U74210PN2004PTC140101

EON HADAPSAR INFRASTRUCTURE PRIVATE LIMITED

Director

19/03/2015

19/03/2015

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Pradip P Bhatambrekar

Designation :

Company Secretary

Address :

Building, A-4, Flat-18, Sarita Vihar, Sinhgad Road, Pune - 411030, Maharashtra, India

Date of Appointment :

01.08.2014

PAN No.:

AOMPB6517M

 

 

MAJOR SHAREHOLDERS

 

As on 23.09.2014

 

Names of Shareholders

 

No. of Shares

Premsagar Infra Realty Private Limited (Previously known as Premsagar Hotels Private Limited), India

 

1149999*

Sagar Ishwardas Chordia (Nominee on behalf of PREMSAGAR INFRA REALTY PRIVATE LIMITED)

 

01

Total

 

1150000

 

Note: *(57500 Shares are in Demat form with CDSL (BO PREMSAGAR INFRA REALTY PRIVATE LIMITED) and remaining held in Physical Form)

 

As on 23.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Bodies corporate

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in the business of real estate development and sale.

 

 

Products / Services :

Product / Services Description

Item Code No. (ITC Code)

Real Estate

99722210

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

PRODUCTION STATUS = NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

Information declined by the management.

 

 

Bankers :

Banker Name

Not Divulged

Branch Address

Not Divulged

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

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Debentures

1980.000

1980.000

Term Loans

333.333

1057.833

Other loans and advances

0.000

165.555

Total

2313.333

3203.388

 

Note:

 

NON-CONVERTIBLE DEBENTURES

 

15% debentures are repayable over 42 months in four varying quarterly installment ranging from Rs. 180 million to Rs. 1400 million, starting from December 26, 2015. Above debentures are secured by (i) Charge over development projects and movables thereof of the Company; (ii) Charge over escrow account pertaining to all receivables from the development projects; (iii) Charge over the land held by fellow subsidiary, Wagholi Properties Private Limited; (iv) Charge over the escrow account pertaining to all receivables from the development projects of fellow subsidiary, Wagholi Properties Private Limited (v) 50% pledge over equity share capital of Eon Kharadi Infrastructure Private Limited and (vi) Personal guarantee of a Director. During the previous year ended March 31, 2013, the Company has partially redeemed Rs. 1620 million i.e., Rs. 450,000 per debenture has been redeemed and the face value of each debenture has been accordingly reduced to Rs. 550,000.

 

 

TERM LOANS

 

Buyers' credit

 

Buyers' credit carries interest @ LIBOR plus 2%. The buyers' credit is repayable within period ranging from 1 to 3 years from date of its disbursement.

 

Indian rupee term loan

Loan I - amounting to Rs. 681,000,000 (March 31, 2013: Rs.1362.000 Million) is subjected to interest ranging from 12.75% to 14.25%. The sanctioned loan amount is repayable in 24 monthly installments of Rs. 83 million each from the 28th month of first disbursement.

 

Loan II - amounting to Rs.13.000 Million (March 31, 2013 Rs.400.000 Million) is subjected to interest ranging from 13% to 13.75%. The sanctioned loan amount is repayable in 4 quarterly installments of Rs. 12.5 million each from the 23rd month of first disbursement.

 

Bank overdraft

 

Bank overdraft carries interest @ 12% to 14% p.a. The sanctioned overdraft amount is repayable in 24 monthly installments of Rs. 25 million each from the 28th month of first disbursement.

 

Buyers' credit, Indian rupee loan and overdraft are secured against exclusive charge over the project, exclusive charge on the entire present and future cashflows/receivables from the project and personal guarantee of a Director.

 

Financial Institution :
  • IDBI Trusteeship Services Limited, Asian Building, Ground Floor, 17, R.Kamani Marg, Ballard Estate, Mumbai – 400001, Maharashtra, India

 

 

Auditors :

 

Name :

S. R. Batliboi and Company

Chartered Accountants

Address :

C-401, 4th Floor, Panchshil Tech Park, Yerwada, Pune – 411006, Maharashtra, India

PAN No.:

AALFS0506L

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Ultimate holding company :

Premsagar Infra Realty Private Limited

 

 

Investing company :

Panchshil Techpark Private Limited

 

 

Fellow subsidiaries :
  • Eon Kharadi Infrastructure Private Limited
  • Eon Hinjewadi Infrastructure Private Limited
  • Panchshil Corporate Park Private Limited
  • Wagholi Properties Private Limited
  • A S Realty and Infrastructure Private Limited

 

 

Enterprises significantly influenced by key management personnel or their relatives :
  • Eon Aviation Private Limited
  • P-One Infrastructure Private Limited
  • Lifestlye Interiors Private Limited
  • Zero G Apartments Private Limited
  • ICC Realty (India) Private Limited
  • A Square Land Development Private Limited
  • Pranav Properties
  • Bluerays Developers LLP
  • Balewadi Properties LLP
  • Target Infra Developers LLP
  • Vir Trust

 

 

CAPITAL STRUCTURE

 

As on 23.09.2014

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

2000000

Equity Shares

Rs.10/- each

Rs.20.000 Million

 

Issued, Subscribed & Paid-up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

1150000

Equity Shares

Rs.10/- each

Rs.11.500 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

11.500

11.500

11.500

(b) Reserves & Surplus

277.676

267.975

483.107

(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)

289.176

279.475

494.607

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

2313.333

3203.388

1615.140

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

1.000

1.000

1.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

2314.333

3204.388

1616.140

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

0.000

63.000

(b) Trade payables

261.895

275.033

333.880

(c) Other current liabilities

2697.200

3671.746

4532.019

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

2959.095

3946.779

4928.899

 

 

 

 

TOTAL

5562.604

7430.642

7039.646

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

71.713

103.240

145.886

(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

9.900

9.900

(c) Deferred tax assets (net)

0.000

0.000

9.781

(d)  Long-term Loan and Advances

27.085

45.714

166.538

(e) Other Non-current assets

0.000

2.500

7.113

Total Non-Current Assets

98.798

161.354

339.218

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

3600.000

(b) Inventories

3845.412

3908.787

2510.871

(c) Trade receivables

200.938

453.113

239.802

(d) Cash and cash equivalents

83.765

1399.523

25.848

(e) Short-term loans and advances

1217.991

1477.680

268.953

(f) Other current assets

115.700

30.185

54.954

Total Current Assets

5463.806

7269.288

6700.428

 

 

 

 

TOTAL

5562.604

7430.642

7039.646

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

2925.744

985.835

813.933

 

Other Income

116.940

504.192

3.048

 

TOTAL

3042.684

1490.027

816.981

 

 

 

 

 

Less

EXPENSES

3010.690

1702.753

638.009

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

31.994

(212.726)

178.972

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

9.794

1.451

0.008

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

22.200

(214.177)

178.964

 

 

 

 

 

Less

TAX

12.500

0.955

59.206

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

9.700

(215.132)

119.758

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

(40.443)

174.689

75.931

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Transfer to DDR

9.700

0.000

21.000

 

Total

9.700

0.000

21.000

 

 

 

 

 

 

Balance Carried to the B/S

(40.443)

(40.443)

174.689

 

 

 

 

 

 

IMPORTS

 

 

 

 

Construction Material

307.135

255.241

225.424

 

TOTAL IMPORTS

307.135

255.241

225.424

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

8.43

(187.07)

104.13

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term borrowing

1069.061

915.551

3600.000

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

(266.050)

(1065.867)

(870.539)

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT/Sales)

(%)

0.33

(21.82)

14.71

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

0.40

(2.89)

2.55

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.08

(0.77)

0.36

 

 

 

 

 

Debt Equity Ratio

(Total Debt/Networth)

 

11.70

14.74

10.67

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.85

1.84

1.36

 

 

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

11.500

11.500

11.500

Reserves & Surplus

483.107

267.975

277.676

Net worth

494.607

279.475

289.176

 

 

 

 

long-term borrowings

1615.140

3203.388

2313.333

Short term borrowings

63.000

0.000

0.000

Current Maturities of Long Term Borrowing

3600.000

915.551

1069.061

Total borrowings

5278.140

4118.939

3382.394

Debt/Equity ratio

10.671

14.738

11.697

 

 

 

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

813.933

985.835

2925.744

 

 

21.120

196.778

 

 

 

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

813.933

985.835

2925.744

Profit

119.758

(215.132)

9.700

 

14.71%

(21.82%)

0.33%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

----------------------

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

No

17

Details of sister concerns

Yes

18

Major suppliers

No

19

Major customers

No

20

Banking Details

No

21

Banking facility details

Yes

22

Conduct of the banking account

----------------------

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

----------------------

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

----------------------

33

Market information

----------------------

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

Note:

The registered address has been shifted from the Shop Nos 27, 28, 29 and 30, First Floor, Shubhada Building, Near RTO Office, Sir Pochkhanawalla Road, Worli, Mumbai – 400030, Maharashtra, India to the present address w.e.f. 28.03.2011.

 

 

CORPORATE INFORMATION

 

Subject is a private limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is engaged in the business of real estate development and sale.

 

 

OPERATIONS

 

During the year, the Income stood at Rs. 2925.700 Million as against Rs. 985.800 Million during the previous year. Further, the Company continued to focus on the project delivery system, quality of the construction and cost rationalization.

 

The Company is highly focused on delivery of value to its customers and as such seeing improved order bookings. The Company expects improved growth in revenue and profit after tax in the coming years

 

 

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10575983

17/06/2015

500,000,000.00

IDBI TRUSTEESHIP SERVICES LIMITED

ASIAN BUILDING, GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI - 411001, MAHARASHTRA, INDIA

C56968381

2

10557193

19/01/2015

2,957,000,000.00

IDBI TRUSTEESHIP SERVICES LIMITED

ASIAN BUILDING, GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA, INDIA

C47285853

3

10356802

24/04/2012

3,600,000,000.00

IDBI TRUSTEESHIP SERVICES LIMITED

ASIAN BUILDING, GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA, INDIA

B39619622

4

10290621

17/07/2014 *

2,000,000,000.00

IDBI TRUSTEESHIP SERVICES LIMITED

ASIAN BUILDING, GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI - 400001, MAHARASHTRA, INDIA

C11889888

 

* Date of charge modification

 

 

CONTINGENT LIABILITIES

(Rs. In Million)

Particulars

31.03.2014

31.03.2013

Claims against the Company not acknowledged as debt

7.524

7.524

Total

7.524

7.524

 

 

FIXED ASSETS

 

  • Plant and Equipment
  • Furniture and Fixtures
  • Vehicles
  • Office Equipment
  • Computer Equipments
  • Other Equipments

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.65.45

UK Pound

1

Rs.100.96

Euro

1

Rs.72.10

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

PNM

 

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

2

--LEVERAGE

1~10

2

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--MARGINS

-5~5

---

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

26

 

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

 

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

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

 

 

RATING EXPLANATIONS

 

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

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

 

Unlimited

71-85

Aa

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

 

Large

56-70

A

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

 

Fairly Large

41-55

Ba

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

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

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

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

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.