MIRA
INFORM REPORT
|
Report No. : |
349636 |
|
Report Date : |
18.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
SINGHAL ENERGY
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
|
|
Tel. No.: |
91-33-40088168 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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|
Date of
Incorporation : |
16.04.2007 |
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Com. Reg. No.: |
21-115193 |
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Capital
Investment / Paid-up Capital : |
Rs.18.400 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40106WB2007PTC115193 |
|
|
|
|
IEC No.: |
Not Applicable (As claimed by company management that company does not export and import) |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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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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Line of Business
: |
Manufacturer of Sponge Iron, Ferro Silicon, Silica Manganese etc. |
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|
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|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
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 an established company incorporated in the year 2007. It
has satisfactory track. The company has reported decent growth in its sales turnover along
with fair profit margin in FY14. Further it has adequate networth base along
with comfortable debt level in the same consecutive year. Overall financial
condition of the company appears to be sound. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. In view of aforesaid, the company can be considered for business
dealings with 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 – 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 rating =
BB+ |
|
Rating Explanation |
Inadequate credit
quality and high credit risk. |
|
Date |
December 19, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating =
A4+ |
|
Rating Explanation |
Minimal degree of
safety and very high credit risk. |
|
Date |
December 19, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION PARTED BY (PARTIAL DETAILS)
|
Name : |
Ms. Wazda |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-33-40088168 |
|
Date : |
13.11.2015 |
LOCATIONS
|
Registered Office : |
Century Towers, Room No. 303, 45, Shakespeare Sarani, Kolkata –
700017, West Bengal, India |
|
Tel. No.: |
91-33-40088168 |
|
Fax No.: |
91-33-40088168 |
|
E-Mail : |
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|
|
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|
Corporate Office : |
Singhal 10, Sector 1, Shankar Nagar, Raipur – 492007, Chhattisgarh,
India |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Mahesh Periwal |
|
Designation : |
Director |
|
Address : |
P-27, Raja Basanta Roy Road, 2nd Floor, Kolkata - 700029, West Bengal, India |
|
Date of Birth/Age : |
29.03.1972 |
|
Date of Appointment : |
05.01.2010 |
|
DIN No.: |
00186195 |
|
|
|
|
Name : |
Mr. Sanjay Agarwal |
|
Designation : |
Director |
|
Address : |
45, Shakespeare Sarani,, 303, Century Tower, Kolkata - 700017, West Bengal, India |
|
Date of Birth/Age : |
14.01.1968 |
|
Date of Appointment : |
16.04.2007 |
|
DIN No.: |
00537476 |
|
|
|
|
Name : |
Mr. Ajay Agarwal |
|
Designation : |
Director |
|
Address : |
45, Shakespeare Sarani, 303, Century Towers, Kolkata - 700017, West Bengal, India |
|
Date of Birth/Age : |
19.04.1971 |
|
Date of Appointment : |
16.04.2007 |
|
DIN No.: |
00537579 |
|
|
|
|
Name : |
Mr. Shraisth Kamalia |
|
Designation : |
Director |
|
Address : |
102, Shantikunj Apartment, Chajju Bagh, Patna - 800001, Bihar, India |
|
Date of Birth/Age : |
12.01.1989 |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
01842372 |
KEY EXECUTIVES
|
Name : |
Ms. Wazda |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Sanjay Agarwal |
65000 |
3.53 |
|
Ajay Agarwal |
45000 |
2.45 |
|
Sumit Ispat Private Limited, India |
65000 |
3.53 |
|
Sheily Fiscal Services Private Limited, India |
280000 |
15.22 |
|
Welmen Dealcomm Private Limited, India |
918000 |
49.89 |
|
Parrot Agencies and Credit Private Limited, India |
467000 |
25.38 |
|
Total |
1840000 |
100.00 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
94.02 |
|
Directors or relatives of Directors |
5.98 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Sponge Iron, Ferro Silicon, Silica Manganese etc. |
|
|
|
|
Products : |
·
Sponge Iron ·
Ferro Silicon ·
Silica Manganese |
|
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|
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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 : |
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Selling : |
Cash, L/C and Credit |
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Purchasing : |
Cash, L/C and Credit |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
D.K. Chhajer and Company Chartered Accountants |
|
Address : |
11 R.N. Mukherjee Road, Nilhat House, Kolkata – 700001, West Bengal,
India |
|
Tel. No.: |
91-33-22302598 / 6106 |
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Fax No.: |
91-33-22316983 |
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E-Mail : |
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PAN No.: |
AADFD5743N |
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|
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
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|
Associates : |
·
Parrot Agencies and Credit Private Limited ·
Welmen Dealcomm Private Limited ·
Shri Shyam Ispat (India) Private Limited |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1840000 |
Equity Shares |
Rs.10/- each |
Rs.18.400
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 |
18.400 |
15.000 |
4.300 |
|
(b) Reserves &
Surplus |
230.951 |
157.145 |
36.079 |
|
(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) |
249.351 |
172.145 |
40.379 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
179.691 |
170.534 |
208.083 |
|
(b) Deferred tax liabilities
(Net) |
11.233 |
10.392 |
3.189 |
|
(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) |
190.924 |
180.926 |
211.272 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
123.776 |
41.052 |
20.105 |
|
(b) Trade payables |
60.732 |
24.167 |
28.131 |
|
(c) Other current
liabilities |
51.655 |
39.001 |
64.763 |
|
(d) Short-term provisions |
1.699 |
1.796 |
1.245 |
|
Total Current Liabilities
(4) |
237.862 |
106.016 |
114.244 |
|
|
|
|
|
|
TOTAL |
678.137 |
459.087 |
365.895 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
283.331 |
256.816 |
159.867 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
45.822 |
18.129 |
101.422 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
31.442 |
0.942 |
0.942 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
5.037 |
5.264 |
0.114 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
365.632 |
281.151 |
262.345 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.500 |
0.500 |
|
(b) Inventories |
132.431 |
39.991 |
5.776 |
|
(c) Trade receivables |
29.740 |
37.859 |
11.636 |
|
(d) Cash and cash equivalents |
107.549 |
67.396 |
40.737 |
|
(e) Short-term loans and
advances |
42.651 |
31.728 |
41.314 |
|
(f) Other current assets |
0.134 |
0.462 |
3.587 |
|
Total Current Assets |
312.505 |
177.936 |
103.550 |
|
|
|
|
|
|
TOTAL |
678.137 |
459.087 |
365.895 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Gross Income |
786.582 |
596.598 |
56.050 |
|
|
Other Income |
NA |
NA |
NA |
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION |
NA |
NA |
11.237 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES |
NA |
NA |
1.799 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
NA |
NA |
9.438 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
NA |
NA |
3.028 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX |
45.956 |
44.176 |
6.410 |
|
|
|
|
|
|
|
Less |
TAX |
14.650 |
12.991 |
3.282 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
|
31.306 |
31.185 |
3.128 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
34.464 |
3.279 |
0.151 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S |
65.770 |
34.464 |
3.279 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
17.01 |
16.94 |
1.70 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current
Maturities of Long term debt |
|
|
|
|
Term Loan (IDBI Bank, Raipur) |
35.000 |
35.000 |
35.000 |
|
Term Loan (Canara Bank, Raipur) |
9.600 |
0.000 |
0.000 |
|
Hire Purchase Loan-I (IndusInd Bank, Raipur) |
0.652 |
0.584 |
0.000 |
|
Hire Purchase Loan –II (IndusInd Bank, Raipur) |
0.560 |
0.000 |
0.000 |
|
Total |
45.812 |
35.584 |
35.000 |
|
Cash generated from
operations |
NA |
NA |
NA |
|
Net cash flows from
operating activities |
55.032 |
4.499
|
46.761 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Gross Sales) |
(%) |
3.98 |
5.23 |
5.58 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Gross Sales) |
(%) |
NA
|
NA |
20.05 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
7.65 |
10.04 |
2.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.26 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.40 |
1.44 |
6.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31 |
1.68 |
0.91 |
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 |
4.300 |
15.000 |
18.400 |
|
Reserves & Surplus |
36.079 |
157.145 |
230.951 |
|
Net worth |
40.379 |
172.145 |
249.351 |
|
|
|
|
|
|
long-term borrowings |
208.083 |
170.534 |
179.691 |
|
Short term borrowings |
20.105 |
41.052 |
123.776 |
|
Current Maturities of
Long Term Debt |
35.000 |
35.584 |
45.812 |
|
Total borrowings |
263.188 |
247.170 |
349.279 |
|
Debt/Equity ratio |
6.518 |
1.436 |
1.401 |
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) |
|
Gross Sales |
56.050 |
596.598 |
786.582 |
|
|
|
964.403 |
31.845 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Gross Sales |
56.050 |
596.598 |
786.582 |
|
Profit |
3.128 |
31.185 |
31.306 |
|
|
5.58% |
5.23% |
3.98% |
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
From Related Party |
|
|
|
Body Corporate |
20.482 |
43.065 |
|
Total |
20.482 |
43.065 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10418 045 |
03/01/2015 * |
220,000,000.00 |
CANARA BANK |
Mid Corporate Branch, Pujari Chambers, Block B-1, Ground Floor, Near Pachpedinaka, Raipur - 492001, Chhattisgarh, INDIA |
C44601862 |
|
2 |
10372356 |
03/01/2015 * |
240,000,000.00 |
IDBI Bank Limited |
Specialised Corporate Branch, 1st floor, Simran Tower, Opposite LIC Building, Pandri, Raipur - 492001, Chhattisgarh, INDIA |
C41732140 |
|
3 |
10228921 |
21/06/2010 |
240,000,000.00 |
IDBI BANK LIMITED |
Specialised Corporate Branch, First Floor, Simran Tower, Opposite LIC Building, Pandri,, Raipur - 492004, Chhattisgarh, INDIA |
A89730212 |
* Date of charge modification
FIXED ASSETS
·
Factory Shed and Building
·
Plant and Machinery
·
Pollution Control Equipment
·
Vehicles
·
Furniture and Fixtures
·
Office Equipment
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.100.10 |
|
Euro |
1 |
Rs.70.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
44 |
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.