MIRA INFORM REPORT

 

 

Report No. :

345507

Report Date :

16.10.2015

 

                                                                IDENTIFICATION DETAILS

 

Name :

SIKKIM FERRO ALLOYS LIMITED

 

 

Registered Office :

2nd Floor Apsara Cinema Building, Dr. D. B Marg Grant Road, Mumbai – 400007, Maharashtra

Tel No.:

91-22-67377000

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

04.03.1998

 

 

Com. Reg. No.:

11-113802

 

 

Capital Investment / Paid-up Capital :

Rs.18.000 Million

 

 

CIN No.:

[Company Identification No.]

U28910MH1998PLC113802

 

 

TIN No.:

Not Available

 

 

IEC No.:

0303029587

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMS43397E

 

 

PAN No.:

[Permanent Account No.]

AAGCS8115B

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Importer and Trader of Ferrous and Non Ferrous Metal.

 

 

No. of Employees :

30 (Approximately)

 

 

                                                                  RATING & COMMENTS

 

MIRA’s Rating :

Ba (43)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

SFAL was founded in 1998, it is an established company having satisfactory track record. The company trades in ferroalloys, steel scrap, and other related products.

 

As per available record, the company has seen a significant increases in its sales volume whereas, the profit margin seems to be low.

 

However, the general financial position of the company seems to be sound.

 

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

 

The company can be considered business dealings at usual trade terms and conditions.

 

Note: Management has failed to file its latest financials for the year ended 2014, with the government department.

 

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  BBB

Rating Explanation

Moderate degree of safety and moderate credit risk.

Date

12.12.2014

 

 

Rating Agency Name

CRISIL

Rating

Short Term Rating = A3+

Rating Explanation

Moderate degree of safety and higher credit risk.

Date

12.12.2014

 

 

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 

 

Name :

Mr. K. P. Raju

Designation :

Senior Account Manager

Contact No.:

91-22-67377000

Date:

15.10.2015

 

 

                                                                           LOCATIONS

 

Registered/ Head Office :

2nd Floor Apsara Cinema Building, Dr. D. B Marg Grant Road, Mumbai – 400007, Maharashtra, India 

Tel. No.:

Not Available

Mobile No.:

91-9619986286 (Mr. K. P. Raju)

Fax No.:

Not Available

E-Mail :

info@sikkimferroalloys.com

prascs@gmail.com 

Website:

www.sikkimferroalloys.com

Area :

7000 Sq. Ft.

Location :

Owned

Locality:

Commercial

 

 

Godown 1:

Gala No.2, Thakkar Compound, Anjur Phala Road, Val – Village, Taluka – Bhiwandi, Thane, Maharashtra, India

 

 

Godown 2:

Gala No.11, Diamond Industrial Estate, Ahmedabad Mumbai Highway Road, Near Almoat Factory, Vasai, Thane, Maharashtra, India

 

 

Branch Office 1:

Block No. C-123, Zaveri Industrial Estate, Behind C.L. Vidahlaya, Kathwada, Ahmedabad, Gujarat, India

Tel. No.:

91-79-22901098

 

 

Branch Office 2:

Door No.10/11-70, G.P. Complex No.15, Fathenagar, Hyderabad - 500016, Andhra Pradesh, India

Tel. No.:

91-40-6617 4764

Email:

info@sikkimferroalloys.com

 

 

DIRECTORS

 

As on 31.03.2015

 

Name :

Mr. Jitendra Champalal Kanungo

Designation :

Director

Address :

56/64, Gainson Building, 1st Floor, Nanubhai Desai Road, Mumbai – 400004, Maharashtra, India

Qualification :

Under Graduate

Date of Appointment :

26.09.2003

PAN No.:

ACMPK0190K

DIN No.:

00447436

 

 

Name :

Mr. Hiralal Nagraj Kanungo

Designation :

Director

Address :

Manchhabai Bahavan, 3rd Floor, 14, Nanubhai Desai Road, Mumbai-400004, Maharashtra, India

Date of Birth/Age :

12.09.1971

Qualification :

Under Graduate

Date of Appointment :

29.09.2003

DIN No.:

00426255

 

 

Name :

Mr. Kamlesh Manohar Kanungo

Designation :

Director

Address :

Shripati Arcade, 31st Floor, Flat-1, August Kranti Maidan, Nana Chowk, Mumbai – 400036, Maharashtra, India

Date of Birth/Age :

15.03.1977

Qualification :

B.Com

Date of Appointment :

04.03.1998

PAN No.:

ABBPK9675R

Voter ID No.:

ISD1638022

DIN No.:

00223181

 

 

Name :

Mr. Vinisha Mahendra Jain

Designation :

Additional director

Address :

Room No-54/55 , Ram Mandir Building, 2nd Floor, 139-A, Bhuleshwar Road, Mumbai - 400002, Maharashtra, India

Date of Appointment :

10.08.2015

DIN No.:

07257235

 

 

                                                                      KEY EXECUTIVES

 

Name :

Mr. K. P. Raju

Designation :

Senior Account Manager

 

 

MAJOR SHAREHOLDERS

 

As on 30.09.2013

 

Names of Shareholders

 

No. of Shares

Manohar Poolchand Kanugo

25010

Kamlesh Manohar Kanugo

49940

Rajendra K Mehta

10

Prakash Sanghavi

10

Sunil Parikh

10

Jamnalal Dokwal

10

Sudhir Talati

10

Manohar Manak Alloya Limited, India

75000

Khaniyalal Sharma

34760

Priya Sharma

17380

Emreld Commercial Limited, India

12000

Global Capital Market Limited, India

16000

Kaivwal Nain Shaney

12000

Dimple Kamlesh Kanugo

110000

Javada India Impex Limited, India

70000

Alka Diamond Industries Limited, India

30000

Hema Trading Company Limited, India

60000

Jai Shelters Private Limited, India

181818

Wescon Finance Leasing Private Limited, India

242856

Megh Leasing Investment Limited, India

763213

Mr. Ajaychandran Nair

100000

Total

1800027

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2013

 

Category

Percentage of Holding

Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others

2.90

Bodies corporate

86.16

Directors or relatives of Directors

10.27

Other top fifty shareholders

0.67

Total

100.00

 

 

 

 

                                                                    BUSINESS DETAILS

 

Line of Business :

Importer and Trader of Ferrous and Non Ferrous Metal.

 

 

Products :

Product Description

Item Code No. (ITC Code)

Used in industries as raw material

73045910

S.S. Coils used in industries as raw material

72191111

 

  • Concentrates
  • Metals
  • Metal Scraps
  • High Nickle
  • Ferro Alloys
  • Stainless Steel

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

Not Divulged 

 

 

Imports :

 

Products :

Ferrous and Non Ferrous

Countries :
  • Dubai
  • Singapore
  • UK
  • Germany
  • UK
  • Pakistan
  • Singapore
  • Japan

 

 

Terms :

 

Selling :

Cash and Credit, Cheque

 

 

Purchasing :

Cash and Credit, Cheque

 

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 

Remark :

Not Divulged 

 

 

Customers :

End Users

 

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 

Remark :

Not Divulged 

 

 

No. of Employees :

30 (Approximately)

 

 

Bankers :
  • Axis Bank Limited, Axis House, Bombay Dyeing Mills Compund, Pandurang Budhakar Marg, Worli, Mumbai - 400025, Maharashtra, India   Tel. No.: 91-22-24252525
  • Union Bank of India, Mumbai Samachar Marg Branch, 66/80, Mumbai Samachar Marg, Fort, Mumbai - 400023, Maharashtra, India
  • Indian Bank Limited Nariman Point Branch, 8,Ground Floor, Embassy Centre, 207, Nariman Point, Mumbai - 400021, Maharashtra, India
  • HDFC Bank Limited
  • State Bank of India, Worli, Mumbai
  • Kotak Mahindra Bank Limited
  • Yes Bank Limited

 

 

Facilities :

SECURED LOANS

31.03.2013

Rs. In Million

31.03.2012

Rs. In Million

LONG TERM BORROWINGS

 

 

Rupee term loans from banks

0.000

55.000

Rupee term loans from others

846.885

326.167

Loans taken for fixed assets

0.000

1.848

SHORT TERM BORROWINGS

 

 

Working capital loans from banks

578.255

383.809

Loans repayable on demand from banks

640.593

385.142

Total

2065.733

1151.966

 

Auditor :

 

Name :

Batliboi and Purohit

Chartered Accountants

Address :

204, National Insurance Building, 2nd Floor, D N Road, Fort, Mumbai – 400001, Maharashtra, India

PAN No. :

AAAFB0915F

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Company in which KMP / Relatives of KMP can exercise significant influence (AS ON 31.03.2013):

  • Trisons Impex (Proprietary Concern) (Prop. Kamlesh Kanungo)
  • Trisons Agencies (Proprietary Concern) (Prop. Kamlesh M. Kanungo HUF)
  • Trisons Metalex Private Limited
  • Gorlas Infrastructure Private Limited
  • Gorlas Techno Space Limited
  • Reliance Stainless Steel (Partnership Firm)
  • Liberty Trading Company
  • Movies N More India Private Limited
  • Manohar Metal and Alloys
  • Manohar Manak Alloys Private Limited
  • Bikrampur Investments and trading Private Limited
  • D3 Fashions Private Limited
  • Mane Finance Private Limited
  • Buzzactive Infraprojects Private Limited
  • Trions Casa Projects Private Limited
  • D3 Arcade Private Limited
  • T3 City Developers Private Limited
  • Allioth Infrastructure Private Limited
  • Techostar Construction Private Limited
  • Aadhyay Developers Private Limited
  • ATS Property Information Beuro Private Limited

 

 

CAPITAL STRUCTURE

 

AFTER 30.09.2013

 

Authorised Capital : Rs.50.000 Million

 

Issued, Subscribed & Paid-up Capital : Rs.21.810 Million

 

As on 31.03.2013

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

5000000

Equity Shares

Rs.10/- each

Rs.50.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1800027

Equity Shares

Rs.10/- each

Rs.18.000 Million

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2013

31.03.2012

31.03.2011

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

18.000

15.600

13.225

(b) Reserves & Surplus

748.042

540.005

399.065

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

120.000

95.000

Total Shareholders’ Funds (1) + (2)

766.042

675.605

507.290

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

846.885

383.015

150.782

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

5.346

2.846

0.000

Total Non-current Liabilities (3)

852.231

385.861

150.782

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

1,294.278

768.951

86.059

(b) Trade payables

1,469.909

1,266.712

1,229.093

(c) Other current liabilities

68.496

19.047

0.000

(d) Short-term provisions

26.017

7.028

1.495

Total Current Liabilities (4)

2,858.700

2,061.738

1,316.647

 

 

 

 

TOTAL

4,476.973

3,123.204

1,974.719

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

9.720

11.448

12.643

(ii) Intangible Assets

0.033

0.015

0.004

(iii) Capital work-in-progress

5.000

2.500

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.733

0.501

0.114

(d)  Long-term Loan and Advances

3.702

0.000

0.000

(e) Other Non-current assets

0.341

0.000

0.010

Total Non-Current Assets

19.529

14.464

12.771

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

801.910

851.279

766.983

(c) Trade receivables

3,371.202

2,105.226

1,013.711

(d) Cash and cash equivalents

281.553

147.999

181.249

(e) Short-term loans and advances

1.074

1.045

0.005

(f) Other current assets

1.705

3.191

0.000

Total Current Assets

4,457.444

3,108.740

1,961.948

 

 

 

 

TOTAL

4,476.973

3,123.204

1,974.719

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Revenue from operations

18016.760

6749.048

4312.242

 

 

Other Income

135.758

36.927

18.653

 

 

TOTAL                                              (A)

18152.518

6785.975

4330.895

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Purchases of stock-in-trade

17824.752

6712.215

4734.907

 

 

Changes in inventories of finished goods, work-in-progress and stock-in-trade

48.698

(88.933)

(522.826)

 

 

Employee benefit expense

9.489

4.998

2.264

 

 

Other expenses

61.150

43.714

49.595

 

 

TOTAL                                              (B)

17944.089

6671.994

4263.940

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

208.429

113.981

66.955

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

64.298

34.950

17.090

 

 

 

 

 

 

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

144.131

79.031

49.865

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION                     (F)

2.734

3.467

2.365

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                              (G)

141.397

75.564

47.500

 

 

 

 

 

Less

TAX                                                                  (H)

50.960

27.249

17.227

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

90.437

48.315

30.273

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

NA

1044.981

1291.646

 

 

TOTAL

NA

1044.981

1291.646

 

 

 

 

 

 

Earnings Per Share (Rs.)

53.20

33.99

23.87

 

 

Particulars

 

 

31.03.2015

31.03.2014

Sales Turnover (Approximately)

 

16940.000

17520.000

 

 

(Market Fluctuation)

 

Expected Sales (2015-2016) : Rs.19000.000 Million

 

The above information has been parted by Mr. K P Raju

 

 

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

NA

NA

NA

Net cash flows from (used in) operations

(730.906)

(1003.011)

111.341

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2013

31.03.2012

31.03.2011

Net Profit Margin

(PAT/Sales)

(%)

0.50

0.72

0.70

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

1.16

1.69

1.55

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

3.16

2.42

2.41

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.18

0.11

0.09

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

2.80

1.71

0.47

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.56

1.51

1.49

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2011

31.03.2012

31.03.2013

 

Rs. In Million

Rs. In Million

Rs. In Million

Share Capital

13.225

15.600

18.000

Reserves & Surplus

399.065

540.005

748.042

Share Application money pending allotment

95.000

120.000

0.000

Net worth

507.290

675.605

766.042

 

 

 

 

Long Term borrowings

150.782

383.015

846.885

Short Term borrowings

86.059

768.951

1294.278

Total borrowings

236.841

1151.966

2141.163

Debt/Equity ratio

0.467

1.705

2.795

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2011

31.03.2012

31.03.2013

 

Rs. In Million

Rs. In Million

Rs. In Million

Sales

4,312.242

6,749.048

18,016.760

 

 

56.509

166.953

 

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2011

31.03.2012

31.03.2013

 

Rs. In Million

Rs. In Million

Rs. In Million

Sales

4,312.242

6,749.048

18,016.760

Profit

30.273

48.315

90.437

 

0.70%

0.72%

0.50%

 

 

 

 

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

Yes

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

Yes

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

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

No

26

Turnover of firm for last five 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

 

NOTE: The registered address of the company has been shifted from 108/A, Anand Bhawan, 1st Floor, ‘C’ Wing, 163/165, V.P. Road, Opposite Sikka Nagar, Mumbai – 400004, Maharashtra, India to the present address w.e.f. 15.11.2013

 

UNSECURED LOANS:

 

Particulars

31.03.2013

Rs. In Million

31.03.2012

Rs. In Million

SHORT TERM BORROWINGS

 

 

Loans and advance from others

75.430

0.000

Total

75.430

0.000

 

CORPORATE INFORMATION (AS ON 31.03.2013):

 

Subject was incorporated in the year 1998. The company over the years has created a niche for providing industrial raw materials and caters to various industries and users like Foundries, Steel plants, Forgings, Pipe manufacturers, Mole convertors, Aluminum based industries etc. The company is currently into trading in all types of ferrous and non-ferrous metals: Stainless Steel Sheets, Plates, Coils, pipes, billets, H.R/C.R, Seamless/Welded, Prime/Seconds/Stock lots, Ferro Alloys, high Nickel scrap etc. Besides trading, company has also started providing some processing services such as slitting, shearing, metal cutting etc.

 

 

INDEX OF CHARGE:

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10488619

21/03/2014

3,000,000,000.00

UNION BANK OF INDIA - LEAD BANK OF UBI CONSORTIUM

UNION BANK OF INDIA - LEAD BANK OF UBI CONSORTIUM,
66/80, MUMBAI SAMACHAR MARG, FORT, MUMBAI, MAHA
RASHTRA - 400023, INDIA

C02254977

2

10466221

26/11/2013

250,000,000.00

VIJAYA BANK

OVERSEAS BRANCH,MAKER CHAMBERS-IV, NAIRMAN POINT,
MUMBAI, MAHARASHTRA - 400021, INDIA

B91982975

3

10527873

21/10/2013

200,000,000.00

ADITYA BIRLA FINANCE LIMITED

INDIAN RAYON COMPOUND,, VERAVAL, GUJARAT - 362266,
INDIA

B98305360

4

10369855

06/08/2012

30,000,000.00

UNION BANK OF INDIA

MUMBAI SAMACHAR MARG BRANCH,, 66/80, MUMBAI SAMAC
HAR MARG, FORT,, MUMBAI, MAHARASHTRA - 400023, IND
IA

B45426715

5

10273684

21/03/2012 *

300,000,000.00

STATE BANK OF INDIA

SMALL AND MEDIUM ENTERPRISES, SHIVSAGAR, ESTATE B
RANCH, ANNIE BESANT ROAD, WORLI,, MUMBAI, MAHARASH
TRA - 400018, INDIA

B37593050

6

10141503

08/06/2013 *

750,000,000.00

UNION BANK OF INDIA

MUMBAI SAMACHAR MARG BRANCH,, 66/80, MUMBAI SAMAC
HAR MARG, FORT,, MUMBAI, MAHARASHTRA - 400023, IND
IA

B77168342

*Date of modification Charges

 

 

FIXED ASSETS:

·         Plant and equipment

·         Furniture and fixtures

·         Vehicles

·         Motor vehicles

·         Office equipment

·         Computer Equipments

·         Other Equipments

·         Computer software

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, 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.64.82

UK Pound

1

Rs.100.41

Euro

1

Rs.74.50

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

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

4

--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

 

43

 

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.