MIRA INFORM REPORT
|
Report No. : |
349632 |
|
Report Date : |
18.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
GHANKUN STEELS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
22, Rabindra Sarani, 1st Floor No. FF-2/E, Kolkata – 700073,
Tr. Co. From Chhattisgarh, West Bengal |
|
Mobile No.: |
91-9009633338 (Mr. Aditya) |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
07.12.2004 |
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|
|
|
Com. Reg. No.: |
21-100622 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.20.405 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100WB2004PTC100622 |
|
|
|
|
IEC No.: |
6314000688 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JBPG00625C |
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|
|
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PAN No.: [Permanent Account No.] |
AACCG0141R |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Importer of sponge iron and ingots. |
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|
|
|
No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. It was
incorporated in the year 2004 and it is the manufacturer and importer of
sponge iron and ingots. As per 2014 financial, the company has reported decline in its revenue
profile by 59.87% which further led to dip in profitability of the company. Further, rating remain constrained on account of company’s moderate financial
risk profile marked by its limited networth base and leverage debt balance
sheet profile of the company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. In view of aforesaid, 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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term bank facilities= BB- |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
04.06.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term bank facilities= A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
04.06.2015 |
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 PARTED BY
|
Name : |
Mr. Aditya Agarwal |
|
Designation : |
Account Head |
|
Contact No.: |
91-9009633338 |
|
Date : |
17.11.2015 |
LOCATIONS
|
Registered Office : |
22, Rabindra Sarani, 1st Floor No. FF-2/E, Kolkata – 700073,
Tr. Co. From Chhattisgarh, West Bengal |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9009633338 (Mr. Aditya) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
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|
Head Office : |
D4, C Block, Faishta Complex, GE Road, Raipur – 492001, Chhattisgarh,
India |
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|
|
|
Factory : |
Plot No.78, Farishta Complex, Phase 2, Industrial Area, Sitara, Raipur
– 492001, Chhattisgarh, India |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Bimal Kishor Khetan |
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Designation : |
Director |
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|
Address : |
Dundi Bazar, Patna City, Patna - 800008, Bihar, India |
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Date of Birth/Age : |
15.12.1960 |
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|
Date of Appointment : |
20.01.2010 |
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DIN No.: |
00623501 |
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Other Directorship :
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|
Name : |
Mr. Ankit Chowdhary |
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|
Designation : |
Director |
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Address : |
316 Maa Enclave, Lalpur, Raipur - 492001, Chhattisgarh, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
18.12.1987 |
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Date of Appointment : |
15.03.2013 |
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DIN No.: |
06523649 |
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KEY EXECUTIVES
|
Name : |
Mr. Aditya Agarwal |
|
Designation : |
Account Head |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Bimal Kishor Khetan |
50 |
|
Kamal Kishore Khetan |
50 |
|
Kiskindha Traders Private Limited, India |
993500 |
|
Khetan Investments Private Limited, India |
16250 |
|
Choudhary Investments Private Limited, India |
21250 |
|
Drolia Investments Private Limited, India |
92500 |
|
Maruti Nirman Private Limited, India |
576500 |
|
Maruti Agro Product Private Limited, India |
340000 |
|
Monika Khetan |
50 |
|
Nidhi Khetan |
50 |
|
Nishant Khetan |
50 |
|
Parshant Khetan |
50 |
|
Priti Khetan |
50 |
|
Neha Khetan |
100 |
|
|
|
|
Total |
2040450 |
LIST OF ALLOTTEES
AS ON 30.03.2015
|
Names of Allottees |
No. of Shares |
|
Kiskindha Traders Private Limited, India |
452394 |
|
Zircon Tradecomm Private Limited, India |
452394 |
|
Maruti Nirman Private Limited, India |
57650 |
|
|
|
|
Total |
962438 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
99.98 |
|
Directors or relatives of Directors |
0.02 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Importer of sponge iron and ingots. |
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|
Products : |
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|
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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 : |
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Products : |
Raw Material |
|
Countries : |
South Africa |
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Terms : |
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Selling : |
Advance Payment, Credit |
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Purchasing : |
Advance Payment, L/C |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
Manufacturer
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No. of Employees : |
60 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Begani and Begani Chartered Accountants |
|
Address : |
C-34/1, Near Digambar Jain Mandir, Tagore Nagar, Raipur – 492001,
Chhattisgarh, India |
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PAN No.: |
AAEFB9798G |
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AFTER 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3750000 |
Equity Shares |
Rs.10/- each |
Rs.37.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3002888 |
Equity Shares |
Rs.10/- each |
Rs.30.029 Million |
|
|
|
|
|
AS ON 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2250000 |
Equity Shares |
Rs.10/- each |
Rs.22.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2040450 |
Equity Shares |
Rs.10/- each |
Rs.20.405 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 |
20.405 |
20.405 |
20.404 |
|
(b) Reserves & Surplus |
126.761 |
125.392 |
120.972 |
|
(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) |
147.166 |
145.797 |
141.376 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
306.226 |
272.910 |
299.453 |
|
(b) Deferred tax liabilities (Net) |
8.786 |
6.630 |
6.554 |
|
(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) |
315.012 |
279.540 |
306.007 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
99.684 |
125.878 |
120.341 |
|
(b) Trade
payables |
77.171 |
82.684 |
107.443 |
|
(c) Other
current liabilities |
8.042 |
7.732 |
13.269 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.256 |
|
Total Current
Liabilities (4) |
184.897 |
216.294 |
241.309 |
|
|
|
|
|
|
TOTAL |
647.075 |
641.631 |
688.692 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
293.923 |
310.945 |
327.715 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
57.904 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
12.162 |
12.162 |
5.912 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
14.145 |
14.120 |
24.616 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
378.134 |
337.227 |
358.243 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
144.093 |
136.413 |
94.662 |
|
(c) Trade
receivables |
44.117 |
132.521 |
160.582 |
|
(d) Cash
and cash equivalents |
10.863 |
5.347 |
15.307 |
|
(e)
Short-term loans and advances |
46.003 |
20.868 |
47.070 |
|
(f) Other
current assets |
23.865 |
9.255 |
12.828 |
|
Total Current
Assets |
268.941 |
304.404 |
330.449 |
|
|
|
|
|
|
TOTAL |
647.075 |
641.631 |
688.692 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
325.925 |
812.232 |
791.579 |
|
|
|
Other Income |
69.978 |
3.282 |
29.263 |
|
|
|
TOTAL |
395.903 |
815.514 |
820.842 |
|
|
|
[Due to Market
Fluctuation] |
|
|
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
342.501 |
758.350 |
760.461 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
53.402 |
57.164 |
60.381 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
29.802 |
32.582 |
36.462 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
23.600 |
24.582 |
23.919 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
18.939 |
19.031 |
18.843 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE EXTRAORDINARY ITEMS & TAX |
4.661 |
5.551 |
5.076 |
|
|
|
|
|
|
|
|
|
Less |
EXTRAORDINARY
ITEMS |
0.281 |
0.029 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
4.380 |
5.522 |
5.076 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.011 |
1.106 |
3.109 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
1.369 |
4.416 |
1.967 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.67 |
2.16 |
0.96 |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
1263.589 |
|
|
|
|
[Due to Increase
in Activity] |
The above information has been parted by Mr. Aditya
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
61.033 |
46.778 |
40.311 |
|
Net cash flow from (used in) operations |
60.178 |
45.748 |
39.618 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
0.42 |
0.54 |
0.25 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
16.38 |
7.04 |
7.63 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
0.76 |
0.88 |
0.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.04 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.76 |
2.74 |
2.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.45 |
1.41 |
1.37 |
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 |
20.404 |
20.405 |
20.405 |
|
Reserves & Surplus |
120.972 |
125.392 |
126.761 |
|
Net
worth |
141.376 |
145.797 |
147.166 |
|
|
|
|
|
|
long-term borrowings |
299.453 |
272.910 |
306.226 |
|
Short term borrowings |
120.341 |
125.878 |
99.684 |
|
Total
borrowings |
419.794 |
398.788 |
405.910 |
|
Debt/Equity
ratio |
2.969 |
2.735 |
2.758 |
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 |
791.579 |
812.232 |
325.925 |
|
|
|
2.609 |
(59.873) |
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
|
791.579 |
812.232 |
325.925 |
|
Profit |
1.967 |
4.416 |
1.369 |
|
|
0.25% |
0.54% |
0.42% |
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 |
No |
|
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
Yes |
|
19 |
Major customers |
Yes |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
Yes |
|
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 four years |
Yes |
|
27 |
Reasons for variation <> 20% |
Yes |
|
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 |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
FINANCIAL RESULTS:
During the year, subject has earned Revenue from Operations of Rs.325.925 million and Net Profit after Tax of Rs.1.369 million. In view of Management, the decline in Revenue from Operations and Net Profit is due to Unfavorable Market conditions. The Directors are hopeful of achieving even better results in the next Financial Year. The Financial Results as reflected in the Statement of Profit and Loss are self -explanatory.
NOTE: Registered office of the company has been shifted from MG Road, Raipur –
492001, Madhya Pradesh, India to the present address.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
From shareholders |
23.491 |
19.202 |
|
From body
corporate |
282.170 |
240.772 |
|
|
|
|
|
Total |
305.661 |
259.974 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10555595 |
01/02/2015 |
2,825,000.00 |
SREI EQUIPMENT FINANCE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD,, KOLKATA, WEST BENGAL - 700046, INDIA |
C46983235 |
|
2 |
10554639 |
15/01/2015 |
1,927,800.00 |
SREI EQUIPMENT FINANCE LIMITED |
'VISHWAKARMA',
86C, TOPSIA ROAD,, KOLKATA, WEST BE |
C46434296 |
|
3 |
10222889 |
31/03/2010 |
30,000,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, MAHAVEER GAUSHALA COMPLEX, K.K ROAD, RAIPUR, CHHATTISGARH - 492001, INDIA |
A86118114 |
|
4 |
10015429 |
23/12/2010 * |
104,300,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH,, MAHAVIR GAUSHALA COMPLEX, MOUDHAPARA, RAIPUR, CHHATTISGARH - 492001, INDIA |
B04499018 |
|
5 |
10015436 |
30/05/2015 * |
387,500,000.00 |
UNION BANK OF INDIA LIMITED |
INDUSTRIAL
FINANCE BRANCH,, RAIPUR, CHHATTISGARH - |
C60476330 |
|
6 |
90255337 |
23/12/2010 * |
4,800,000.00 |
UNION BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, MAHAVEER GAUSHALA COMPLEX, MOUDHAPARA, RAIPUR, CHHATTISGARH - 492001, INDIA |
B04498382 |
|
7 |
90254466 |
01/11/2004 |
37,500,000.00 |
UNION BNAK OF INDIA |
S.S.I. BRANCH, MAHAVIR GAUSHALA COMPLEX, RAIPUR, MADHYA PRADESH, INDIA |
- |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Air Conditioner
·
DG Set
·
Fax
·
Office Instruments
·
JCB
·
Loader
·
Refrigerator
·
Washing Machine
·
Tipper
·
Tractor Trolly
·
Vertical Hydraulic
Machine
·
Water Cooler
·
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 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.65.98 |
|
|
1 |
Rs.100.11 |
|
Euro |
1 |
Rs.70.35 |
INFORMATION DETAILS
|
Information
Gathered by : |
SPR |
|
|
|
|
Analysis Done by
: |
HNA |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
28 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NB |
NEW BUSINESS |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.