MIRA INFORM REPORT

Report No. :	346115
Report Date :	24.10.2015

IDENTIFICATION DETAILS

Name :	H.P. STATE CIVIL SUPPLIES CORPORATION LIMITED

Registered Office :	Block No.16 and 17, SDA Commercial Complex, Kasumpti, Shimla - 171 009, Himachal Pradesh
Tel. No.:	91-177-2621583

Country :	India

Financials (as on) :	Not Available

Date of Incorporation :	September 1980

Capital Investment / Paid-up Capital :	Not Divulged

IEC No.:	Not Available

TAN No.: [Tax Deduction & Collection Account No.]	Not Available

PAN No.: [Permanent Account No.]	Not Available

Legal Form :	A Closely Held Public Limited Liability Company Shares of the company are held by Himachal Pradesh State Government.

Line of Business :	Trader of Food grain.

No. of Employees :	Not Divulged

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 :	Slow but correct

Litigation :	Clear

Comments :	Subject is wholly owned by the State Government of Himachal Pradesh. It was incorporated in the year 1980. From external source we are able to confirm that the subject is a Central Procurement Agency for supplies of Medicines in all Government hospitals, Iron Pipes and Cement supplies to Government and supplies of food grain to general public. As per our investigation and observation subject has strong financials for the year 2012. Payments are slow but correct. Subject can be considered 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

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	Not Available
Rating	Not Available
Rating Explanation	Not Available
Date	Not Available

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2015.

INFORMATION DECLINED BY

Name :	Mr. J P Vashist
Designation :	Senior Account Officer
Contact No.:	91-9418129500
Date :	20.10.2015

LOCATIONS

Registered Office :	Block No.16 and 17, SDA Commercial Complex, Kasumpti, Shimla - 171 009, Himachal Pradesh, India
Tel. No.:	Not Available
Mobile No.:	91-9418129500 (Mr. J P Vashist)
Fax No.:	Not Available
E-Mail :	headoffice@himapurti.com
Website :	www.himapuri.gov.in

Head Office	Commercial Complex , Block -16-17, SDA, Kasumpti, Shimla - 171 009, Himachal Pradesh, India Tel No.91-0177-2621583 Email : headoffice@himapurti.com / info@himapurti.com


Divisional Office, Dharmsala	Dharamsala, Distract. Kangra, Himachal Pradesh, India Tel No.91-1892- 223138

Divisional Office, Solan	Plot No. 31, Phase-II, Housing Board Colony, Near LIC, Saproon, Solan, Himachal Pradesh, India Tel No.01792-222808

Area Office, Shimla	Area Manager, HP State Civil Supplies Corporation Limited, Shimla- 171 006, Himachal Pradesh, India Tel No: 91-177-2842281

Area Office, Solan	Plot No. 31, Phase-II, Housing Board Colony, Near LIC, Saproon, Solan, Himachal Pradesh, India Tel No.01792-223454

Area Office, Nahan	Gunnu Ghat, Nahan, Distract Sirmour, Himachal Pradesh, India Tel No.: 01702-222258

Area Office, Dharamsala	Dharamsala, Distract. Kangra, Himachal Pradesh, India Tel No.: 01892-225879

Area Office, Hamirpur	Ward No. 7, Partap Nagar, Near DC Office, Tel No.: 01972-223925

Area Office, Mandi	Sanyukat Bhawan, Ram Nagar, Mandi, Himachal Pradesh, India Tel No.: 01905-222153

Area Office, Chamba	Hardaspura, Chamba, Himachal Pradesh, India Tel No.: 01899-222441

Cement Branch,Head Office	Assistant Area Manager, Commercial Complex Block -16-17, SDA, Kasumpti, Shimla - 171 009, Himachal Pradesh, India Tel No.: 0177-2621583 Email : rajeshsood646@gmail.com
Procurement Office, Barmana	Barmana, Distract. Bilaspur, Himachal Pradesh, India Tel No.: 01978-244009

Procurement Office, Darlaghat	Accountant, HP State Civil Supplies Corporation Limited

MANAGEMENT

Name :	Mr. G. S. Bali
Designation :	Minister, Food, Civil Supplies & Consumer Affairs

Name :	Mr. R.D. Dhiman, IAS
Designation :	Pr. Secretary, Food, Civil Supplies & Consumer Affairs

Name :	Mr. Amitabh Awasthi, IAS
Designation :	Managing Director

Name :	Mr. Sumit Khimta, HPAS
Designation :	Executive Director

Name :	Mr. Ajay Mahajan
Designation :	Financial Advisor

Name :	Mr. T.C. Sharma
Designation :	Manager Finance

Name :	Mr. R. D. Sharma
Designation :	System Analyst

Name :	Mr. R. K. Chadha
Designation :	Procurement Manager

Name :	Mr. K. R. Rana
Designation :	Distribution Manager

Name :	Mr. A.S.Tomar
Designation :	Procurement Officer (Estb)

Name :	Mr. S. K. Sud
Designation :	Procurement Officer (Medicine)

Name :	R. G. Patial
Designation :	Division Manager, Solan 31 Phase-II, Saproon, Solan, District Solan, Himachal Pradesh, India

Name :	Mr. J. P. Kalia
Designation :	Division Manager, D’Shala Dharamshala, District Kangra. Himachal Pradesh, India

Name :	Mr. Kapil Deep Gupta
Designation :	Area Manager, Mandi, SanyukatBhawan, Ram Nagar, Mandi, Himachal Pradesh, India

Name :	Mr. D.R. Sharma
Designation :	Area Manager, Shimla Bhattakuffer, Shimla 171 006, Himachal Pradesh, India

Name :	Mr. Ramesh Chand
Designation :	Area Manager, Nahan Hardasupra, Chamba, Himachal Pradesh, India

Name :	Mr. Pradeep Kumar
Designation :	Area Manager, Nahan GunnuGhat, Nahan, District Sirmour, Himachal Pradesh, India

Name :	Mr. A. K Dhawan
Designation :	Area Manager, Solan 31 Phase-II, Saproon, Solan, District Solan, Himachal Pradesh, India

Name :	Mr. Rajesh Sood
Designation :	Area Manager, Hamirpur, Ward No. 4, Partap Nager, Hamirpur, Himachal Pradesh, India

Name :	Mr. M.R. Chambial
Designation :	Area Manager, D’Shala, Dharamshala, District Kangra, Himachal Pradesh, India

Name :	Mr. Vijay Sharma
Designation :	Asstt. Procurement Officer, Barmana, District Bilaspur, Himachal Pradesh, India

Name :	Mr. Dilap
Designation :	Filed Officer Ambuja Cement, Darlaghat, District. Solan, Himachal Pradesh, India

KEY EXECUTIVES

Name :	Mr. J P Vashist
Designation :	Senior Account Officer

Name :	Mr. Arvind Sharma
Designation :	Company Secretary

BUSINESS DETAILS

Line of Business :	Trader of Food grain.

Products :	Food grain

Brand Names :	Not Available

Agencies Held :	Not Available

Exports :	Not Divulged

Imports :	Not Divulged

Terms :	Not Divulged

PRODUCTION STATUS: NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

Customers :

Reference :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark:	Not Divulged

No. of Employees :

Information declined by the management

Bankers :

Banker Name	Not Divulged
Branch Address	Not Divulged
Person Name (With Designation)	Not Divulged
Contact Number	Not Divulged
Name of Account Holder	Not Divulged
Account Number	Not Divulged
Account Since (Date/Year of Account Opening)	Not Divulged
Average Balance Maintained (If Possible)	Not Divulged
Credit Facilities Enjoyed (If any)	Not Divulged
Account Operation	Not Divulged
Remarks (If any)	Not Divulged

Auditors :	Not Divulged

Memberships :	Not Available

Collaborators :	Not Available

Associates/Subsidiaries :	-

CAPITAL STRUCTURE

Capital Investment :
Owned :	Not Divulged
Borrowed :	Not Divulged
Total :	Not Divulged

FINANCIAL DATA

[all figures are in Rupees Million]

Although the Corporation is working on slender margins as being a service organisation, earning of profits is not its main objective, yet the Corporation has been continuously making modest profits from the 2nd year of its working.

The year wise position of losses/profits before tax is as under :

FINANCIAL RESULTS

Year	Loss(-)/ Gross Profit(+)	Rs. In Million
2005-06	(+)	60.677
2006-07	(+)	42.047
2007-08	(+)	19.409
2008-09	(+)	32.284
2009-10	(+)	28.716
2010-11	(+)	31.515
2011-12	(+)	30.659

DIVIDEND

The Corporation has also been paying dividend to the State Govt. Year-wise details of dividend paid / declared are as under :

Year	Amount Paid	Percentage %
2005-06	5.273	15
2006-07	3.515	10
2007-08	3.515	10
2008-09	3.515	10
2009-10	1.758	5
2010-11	5.273	15
2011-12	3.515	10

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	No
18	Major suppliers	No
19	Major customers	No
20	Banking Details	No
21	Banking facility details	No
22	Conduct of the banking account	--
23	Financials, if provided	No
24	Capital in the business	No
25	Last accounts filed at ROC, if applicable	No
26	Turnover of firm for last three years	No
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	No
30	Major shareholders, if available	No
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

COMPANY PROFILE

Prior to the year 1980 the procurement and distribution of essential commodities under Public Distribution System, in the State of Himachal Pradesh was being handled by the State Co-operative Federation, District Co-operative Federations and Tehsil Co-operative Unions.

In this background the necessity of setting up a single nodal agency was felt and H P State Civil Supplies Corporation Limited was established in September, 1980 under the Companies Act, 1956 as a Joint Stock Company wholly owned by the State Government.

The State Government felt that these institutions, individually, were not in a position to procure all the essential commodities from different Agencies of the Government of India like Food Corporation of India, State Trading Corporation, National Textile Corporation etc. In this background the necessity of setting up a single nodal agency was felt and H P State Civil Supplies Corporation Limited was established in September, 1980 under the Companies Act, 1956 as a Joint Stock Company wholly owned by the State Government.

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.64.88
UK Pound	1	Rs.99.89
Euro	1	Rs.72.06

INFORMATION DETAILS

Information Gathered by :	DIP

Analysis Done by :	TRI

Report Prepared by :	KVT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	3
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	NO
--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		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.

MIRA INFORM REPORT

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