MIRA INFORM REPORT

 

 

Report No. :

351458

Report Date :

30.11.2015

 

IDENTIFICATION DETAILS

 

Name :

ORISSA STEVEDORES LIMITED

 

 

Registered Office :

Badapadia, Pardeep Port, Paradeep, Jagatsinghpur – 754 142, Orissa

Tel. No.:

91-6722-222134

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

14.07.1978

 

 

Com. Reg. No.:

15-000771

 

 

Capital Investment / Paid-up Capital :

Rs.649.070 Million

 

 

CIN No.:

[Company Identification No.]

U35112OR1978PLC000771

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BBNO00140A

 

 

PAN No.:

[Permanent Account No.]

AAACO2100L

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturer, Distributor Wholesaler, Service Provider of Indian Sub-Continent.

 

 

No. of Employees :

Not Available

 

 

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

 

Maximum Credit Limit :

USD 5600000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is part of the Orissa-based OSL group, promoted by Mr. Mahimananda Mishra it was incorporated in in the year 1978.

 

The rating on company reflect the extensive experience of its promoters in the stevedoring business, its strong and diversified customer base and healthy operating margin.

 

This rating strength is partially offset by deterioration in company's financial risk profile on account of increasing exposure to group companies, vulnerability of margins to economic downturns and unfavourable gap between trade payables to its receivables.

 

However, trade relations are reported to be fair. Business is active. Payment terms are slow but correct.

 

In view of long established track record of its operational activities, 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.

 

 

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

September 2015

 

 

Rating Agency Name

CRISIL

Rating

Short term bank facilities: A4+

Rating Explanation

Minimal degree of safety and very high credit risk.

Date

September 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.

 

LOCATIONS

 

Registered Office :

Badapadia, Pardeep Port, Paradeep, Jagatsinghpur – 754 142, Orissa, India

Tel. No.:

91-6722-222134 / 222471 / 222534

Mobile No.:

91-9437183035 (Mr. P. K. Satpati)

Fax No.:

91-6722-222787

E-Mail :

pradeip@oglgroup.in

Website :

www.oslgroup.in

 

 

Branch Office :

Located at :

 

·         Haldia

·         Chennai

·         Talcher

·         Goplapur

·         Lanjigarh

·         Delhi

·         Charbatia

·         Vishakhapatanam

·         Jharsuguda

·         Kolkata

·         Korba

·         Kakinda

·         Joda

·         Jaipur

·         Krishnapatnam

·         Mundra Port

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Mr. Mahimananda Mishra

Designation :

Managing Director

Address :

Oriya Bazar, Cuttack – 753 001, Orissa, India

Date of Birth/Age :

07.05.1953

Date of Appointment :

01.10.2012

DIN No.:

01584547

 

 

Name :

Mr. Chandan Mishra

Designation :

Whole Time Director

Address :

Oriya Bazar, Cuttack – 753 001, Orissa, India

Date of Birth/Age :

11.09.1979

Date of Appointment :

25.09.2001

DIN No.:

01511267

 

 

Name :

Mr. Charchit Mishra

Designation :

Whole Time Director

Address :

Chandan Mishra, Oriya Bazar, Cuttack – 753 001, Orissa, India

Date of Birth/Age :

13.09.1982

Date of Appointment :

01.04.2003

DIN No.:

01511272

 

 

Name :

Jayanta Kumar Hota

Designation :

Director

Address :

Plot No-303, Sahid Nagar, Bhubaneswar - 751007, Orissa, India

Date of Appointment :

23.12.2014

DIN No.:

07050891

 

 

Name :

Alekha Chandra Padhiary

Designation :

Director

Address :

Plot No-1727/2652, Baramunda, Near Nilakantheswar Temple, Bhubaneswar - 751003, Orissa, India

Date of Appointment :

23.12.2014

DIN No.:

07050902

 

 

Name :

Sangita Gosain

Designation :

Director

Address :

Plot No-HIG-II/33, Kapila Prasad Bda Colony, Bhubaneswar - 751002, Orissa, India

Date of Appointment :

23.12.2014

DIN No.:

07050903

 

 

KEY EXECUTIVES

 

Name :

Ms. Rashmi Ranjan Panda

Designation :

Secretary

Address :

Ploty No.884, Prasanti Vihar, Bhubaneswar, Khurda – 751 024, Orrisaa, India

Date of Birth/Age :

04.05.1976

Date of Appointment :

08.02.2011

PAN No.:

ASLPP9132B

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

SHAREHOLDERS DETAILS FILE ATTACHED

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2014

 

Category

Percentage

Bodies corporate

54.45

Directors or relatives of Directors

45.55

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Distributor Wholesaler, Service Provider of Indian Sub-Continent.

 

 

Products :

Item Code No.

Product Description

89010000

Stevedoring Services, Loading

and Unloading of Goods

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

Not Available

 

 

Terms :

Not Available

 

PRODUCTION STATUS: NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Available

Name of the Person :

Not Available

Contact No.:

Not Available

Since How Long Known :

Not Available

Maximum Limit Dealt :

Not Available

Experience :

Not Available

Remark:

Not Available

 

 

Customers :

Reference :

Not Available

Name of the Person :

Not Available

Contact No.:

Not Available

Since How Long Known :

Not Available

Maximum Limit Dealt :

Not Available

Experience :

Not Available

Remark:

Not Available

 

 

No. of Employees :

Not Available

 

 

Bankers :

Banker Name

Not Available

Branch Address

Not Available

Person Name (With Designation)

Not Available

Contact Number

Not Available

Name of Account Holder

Not Available

Account Number

Not Available

Account Since (Date/Year of Account Opening)

Not Available

Average Balance Maintained (If Possible)

Not Available

Credit Facilities Enjoyed (If any)

Not Available

Account Operation

Not Available

Remarks (If any)

Not Available

 

 

Facilities :

(Rs. In Million)

 

SECURED LOAN

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Term loans from others

141.770

255.138

Other loans and advances

(Other Loans and advances from HDFC Bank Finance Limtied. Secured against leased assets i.e vehicles and equipments)

550.558

769.969

SHORT TERM BORROWING

 

 

Working capital loans from banks

40.224

5.049

Loans repayable on demand

7.059

10.094

Total

739.611

1040.250

 

Auditors :

 

Name :

L N More and Company

Chartered Accountants

Address :

Canal Road, Professor, Para Cuttack – 753 003, India

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

AABFL7441B

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates:
  • OSL Marine Solutions Private Limited, India

 [U63010OR2011PTC013241]

  • Prathyusha Stevecon Private Limited, India

[U63012AP1993PTC016267]

  • Orissa Magnetics Private Limited, India [U32303OR1998PTC005415]
  • INNS and Resorts Private Limited, India [U55101OR1983PTC001175]
  • Orissa Stevedores (Overseas) Private Limited, India

 [U45208OR1993PTC003411]

  • OSL Motors Private Limited, India [U50101OR2000PTC006128]
  • OSL Luxury Collections Private Limited, India

 [U51494OR2012PTC015889]

  • J N B Build-Tech Private Limited, India [U45201WB2000PTC092449]
  • OSL Autocar Private Limited, India [U50100OR2008PTC010055]
  • Gopalpur Ports Limited, India [U63032OR2006PLC008831]
  • OSL Balaji Entrepot Private Limited, India [U63090OR2010PTC011750]
  • Nayaagarh Sugar Complex Limited, India [U15421OR2004PLC007710]
  • OSL Automobiles Private Limited, India [U50101OR2005PTC008344]
  • Hotel Virgo Private Limited, India [U55101OR1986PTC001714]
  • OSL IRC Enterprises Private Limited, India

 [U13209OR2008PTC010400]

  • Purvi Bharat Coal Products Private Limited, India

 [U23101OR2003PTC007329]

  • Nandighosh Coal and Coke Product Private Limited, India

 [U26291OR1996PTC004688]

  • Casuarina Hotels and Resorts Limited, India

 [U55101WB1992PLC055642]

  • Bhatia OSL Washeries and Minerals Limited, India

 [U10100MP2009PLC022514]

  • OSL Exclusive Private Limited, India [U50100OR2008PTC010437]
  • Green Field Amusement Private Limited, India

 [U45201OR2006PTC008596]

  • Bhargavi Enterprises Private Limited, India

 [U55101OR1982PTC001054]

 

 

Subsidiary company:
  • OSL Healthcare Private Limited, India [U24233DL2007PTC171542]
  • Century Plaza Private Limited, India [U74999OR2000PTC006129]
  • OSL Prestige Private Limited, India [U50101OR2007PTC009253]

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

70000000

Equity Shares

Rs.10/- each

Rs.700.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

64907000

Equity Shares

Rs.10/- each

Rs.649.070 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

649.070

649.070

649.070

(b) Reserves & Surplus

1302.727

967.216

674.075

(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)

1951.797

1616.286

1323.145

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

1729.485

1968.296

774.234

(b) Deferred tax liabilities (Net)

59.072

46.846

39.668

(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)

1788.557

2015.142

936.767

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

59.495

15.142

175.460

(b) Trade payables

1741.648

2143.663

182.272

(c) Other current liabilities

927.066

897.698

2136.234

(d) Short-term provisions

0.000

142.662

78.641

Total Current Liabilities (4)

2728.209

3199.165

2572.607

 

 

 

 

TOTAL

6468.563

6830.593

4832.519

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1715.096

1774.702

1208.729

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

154.312

56.298

9.879

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

1834.964

2221.810

1360.828

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

10.484

147.405

414.208

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

3714.856

4200.215

2993.644

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

1.500

(b) Inventories

0.000

0.000

90.261

(c) Trade receivables

669.536

698.018

589.459

(d) Cash and cash equivalents

259.925

400.552

298.797

(e) Short-term loans and advances

1824.246

1531.808

858.395

(f) Other current assets

0.000

0.000

0.463

Total Current Assets

2753.707

2630.378

1838.875

 

 

 

 

TOTAL

6468.563

6830.593

4832.519

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

4742.457

4929.737

4163.640

 

Other Income

135.825

42.815

34.138

 

TOTAL (A)

4878.282

4972.552

4197.778

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Purchases of Stock-in-Trade

0.000

0.000

119.113

 

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

0.000

90.261

-65.681

 

Employees benefits expense

712.236

753.986

843.602

 

Other expenses

3247.395

3274.291

2702.296

 

TOTAL (B)

3959.631

4118.538

3599.330

 

 

 

 

 

Less

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

918.651

854.014

598.448

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

186.050

200.338

195.158

 

 

 

 

 

 

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

732.601

653.676

403.290

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

221.120

208.949

160.945

 

 

 

 

 

 

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

511.481

444.727

242.345

 

 

 

 

 

Less

TAX (H)

175.971

151.587

90.136

 

 

 

 

 

 

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

335.510

293.140

152.209

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

Export of Iron Ore Fines

NA

NA

92.919

 

TOTAL EARNINGS

NA

NA

92.919

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

5.17

4.52

2.35

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

454.655

379.240

375.404

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

6.476

1357.647

771.586

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

7.07

5.95

3.66

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

19.37

17.32

14.37

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

11.42

9.77

7.00

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.26

0.28

0.18

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.15

1.46

1.00

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.01

0.82

0.71

 

 

 

 

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

649.070

649.070

649.070

Reserves & Surplus

674.075

967.216

1302.727

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

1323.145

1616.286

1951.797

 

 

 

 

long-term borrowings

774.234

1968.296

1729.485

Short term borrowings

175.460

15.142

59.495

Current maturities of long-term debts

375.404

379.240

454.655

Total borrowings

1325.098

2362.678

2243.635

Debt/Equity ratio

1.001

1.462

1.150

 

 

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

4163.640

4929.737

4742.457

 

 

18.400

(3.799)

 

 

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

4163.640

4929.737

4742.457

Profit

152.209

293.140

335.510

 

3.66%

5.95%

7.07%

 

 

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

No

8

Designation of contact person

No

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

Yes

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

 

 

 

UNSECURED LOAN

 

(Rs. In Million)

Particulars

As on

31.03.2014

As on

31.03.2013

LONG TERM BORROWING

 

 

Other loans and advances

1037.157

943.188

SHORT TERM BORROWING

 

 

Loans repayable on demand

12.212

0.000

Total

1049.369

943.188

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10602537

03/11/2015

150,000,000.00

VIJAYA BANK

148, ASHOK NAGAR, BHUBANESWAR, ORISSA - 751009, IN
DIA

C70131834

2

10592410

20/05/2015

1,080,000,000.00

IDBI TRUSTEESHIP SERVICES LIMITED

ASIAN BLDG., GROUND FLOOR, 17, R.KAMANI MARG,, BA
LLARD ESTATE,, MUMBAI, MAHARASHTRA - 400001, INDIA

C63510333

3

10600110

20/05/2015

150,000,000.00

EDELWEISS ASSET RECONSTRUCTION COMPANY LIMITED

EDELWEISS HOUSE, OFF. C.S.T ROAD,, KALINA,, MUMBA
I, MAHARASHTRA - 400098, INDIA

C68895804

4

10577000

10/12/2014

28,800,000.00

BANK OF INDIA

BHUBANESWAR BRANCH, 129, ASHOK NAGAR, UNIT-II, JA
NPATH, BHUBANESWAR, ORISSA - 751009, INDIA

C57495855

5

10521825

14/08/2014

570,000,000.00

SYNDICATE BANK

NAYAPALLI BRANCH, BHUBANESWAR, ORISSA - 751012, IN
DIA

C22247613

6

10484775

14/03/2014

3,280,675.00

TATA CAPITAL FINANCIAL SERVICES LIMITED

ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI,
MAHARASHTRA - 400001, INDIA

C00472357

7

10484773

28/02/2014

30,408,750.00

TATA CAPITAL FINANCIAL SERVICES LIMITED

ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI,
MAHARASHTRA - 400001, INDIA

C00471334

8

10482562

25/02/2014

33,750,000.00

AXIS BANK LIMITED

RAC - KOLKATA, LOARDS BUILDING, 1ST FLOOR, 7/1 LO
RD SINHA ROAD, KOLKATA, WEST BENGAL - 700071, INDI
A

B98475429

9

10478423

31/01/2014

5,982,000.00

ICICI BANK LIMITED

LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJ
ARAT - 390015, INDIA

B96742945

10

10471378

24/12/2013

32,512,500.00

HDFC BANK LIMITED

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

B93954964

* Date of charge modification

 

FIXED ASSETS

 

Tangible assets

 

 

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 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.66.75

UK Pound

1

Rs.100.68

Euro

1

Rs.70.88

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAS 

 

 

Report Prepared by :

KVT

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

4

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

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

 

--

 

 

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.