MIRA
INFORM REPORT
|
Report No. : |
346810 |
|
Report Date : |
28.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
SREE NARASIMHA TEXTILES PRIVATE LIMITED (w.e.f. 09.04.2001) |
|
|
|
|
Formerly Known
As : |
SREE NARASIMHA TEXTILES LIMITED (w.e.f 18.06.1991) SREE NARASIMHA TEXTILES PRIVATE LIMITED |
|
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|
Registered
Office : |
Post Box No.2, Sulur, |
|
Tell No. |
91-422-2687227/3223033 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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|
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Date of
Incorporation : |
10.02.1976 |
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|
|
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Com. Reg. No.: |
18-000755 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.726 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17111TZ1976PTC000755 |
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|
|
IEC No.: |
Not Available |
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|
TIN No.: |
33781780146 |
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CMBS03091E |
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|
PAN No.: [Permanent Account No.] |
AAECS1811L |
|
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Cotton Yarn. |
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|
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 5925000 |
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|
Status : |
Good |
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Payment Behavior : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company incorporated in the year 1976 having
good track. Available financial indicates company sound financial risk profile
marked by healthy networth position with negligible debt recorded and decent
profit margin of the company. Fundamentals of the company are strong and healthy. Directors are reported to be well experienced and knowledgeable
businessmen. Trade relations are reported as fair. Business is active. Payments
terms are reported as regular and as per commitment. In view of long track record and sound financial base, the company can
be considered good for normal 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 rating: AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
29 October, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
29 October, 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.
LOCATIONS
|
Registered Office/100% E.O.U : |
Post Box No.2, Sulur, Coimbatore – 641 402, Tamilnadu, India |
|
Tel. No.: |
91-422-2687227/3223033/3223099/3223044 |
|
Fax No.: |
91-422-2688342 |
|
E-Mail : |
snt@premiermioll.com |
DIRECTORS
As on: 31.03.2015
|
Name : |
Mr. Karadibhavi Lakshminarasimhalu Varadarajan |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
16.08.1932 |
|
Date of Appointment : |
10.02.1976 |
|
PAN No.: |
ACOPV5014F |
|
DIN No.: |
00028300 |
|
|
|
|
Name : |
Dr. Karadibhavi Varadarajan Srinivasan |
|
Designation : |
Managing Director |
|
Address : |
|
|
Date of Birth/Age : |
13.03.1961 |
|
Date of Appointment : |
07.06.1991 |
|
DIN No.: |
00004103 |
|
|
|
|
Name : |
Mr. Jampala Venkatesam Chowdhury |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
29.06.1962 |
|
Date of Appointment : |
27.04.1987 |
|
DIN No.: |
00009439 |
|
|
|
|
Name : |
Mr. Sridhar Varadaraj |
|
Designation : |
Executive Director |
|
Address : |
|
|
Date of Birth/Age : |
24.11.1969 |
|
Date of Appointment : |
30.09.1994 |
|
PAN No.: |
ABBPV9120C |
|
DIN No.: |
00007603 |
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|
|
|
Name : |
Mr. |
|
Designation : |
Director |
|
Address : |
23, Anugraha, Arunachalam Road, Nawab Gardens, Kotturpuram, Chennai
- 600 085, Tamilnadu, India |
|
Date of Appointment : |
07.06.1991 |
|
DIN No.: |
00185931 |
|
|
|
|
Name : |
Dr. Sivakumar Venkatachalam Ramachandran |
|
Designation : |
Director |
|
Address : |
268/1, Race Course, Coimbatore – 641 018, Tamilnadu, India |
|
Date of Birth/Age : |
23.10.1948 |
|
Date of Appointment : |
26.09.1992 |
|
DIN No.: |
02022127 |
|
|
|
|
Name : |
Mr. Damotharan Rajendran |
|
Designation : |
Director |
|
Address : |
# 233, Tea Estate, Race Course, |
|
Date of Birth/Age : |
17.12.1948 |
|
Date of Appointment : |
28.09.2001 |
|
DIN No.: |
00003848 |
|
|
|
|
Name : |
Mr. Rangian Jayabal |
|
Designation : |
Director |
|
Address : |
304, Park View Apartment, 31-A, ATT Colony, |
|
Date of Birth/Age : |
19.11.1953 |
|
Date of Appointment : |
24.09.2010 |
|
DIN No.: |
00003830 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 21.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Sarojini Varadarajan |
4646 |
26.91 |
|
K V Srinivasan |
5309 |
30.75 |
|
Sridhar Varadaraj |
6309 |
36.55 |
|
Minor Varun Srinivasan By M and G Shanthi Srinivasan |
1000 |
5.79 |
|
Total
|
17264 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on: 21.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cotton Yarn. |
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Products : |
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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 : |
Not Available |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Suppliers : |
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Customers : |
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Bankers : |
,
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Facilities : |
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Auditors : |
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Name : |
M.S. Jagannathan and Visvanathan Chartered Accountants |
|
Address : |
67A, Sri Krishna Krupa, P & T Colony Main Road, Kavundampalayam,
Coimbatore - 641030, Tamilnadu, India |
|
PAN: |
AAEFM3256C |
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|
|
|
Associates: |
·
Premier Mills Private Limited, India CIN: U17111TZ1994PTC005511 ·
Premier Cotton Textiles, India ·
Lakshmi Narasimha Textiles Private
Limited, India CIN No.:U17111TZ2004PTC011073 ·
Premier Evolvics Private Limited,
India CIN: U02520TZ1981PTC001107 ·
Premier Fine Linens Private Limited,
India CIN: U17111TZ1995PTC005901 ·
Premier Spg and Wvg Mills Private
Limited, India CIN: U17111TZ1945PTC000146 ·
Holiday Travels Private Limited,
India CIN: U63040TZ1978PTC000813 ·
Esvee Consultants and Engineers
Private Limited, India CIN: U02919TZ1985PTC001672 ·
Prima Products Private Limited, India ·
CIN: U17111TZ1987PTC001972 ·
Coimbatore Polytex Private Limited ·
Nuva System Private Limited |
|
|
|
|
Subsidiaries: |
·
SNT Holdings Private Limited, India CIN No.:U65993TZ2002PTC010415 ·
Karadivavi Holdings Private Limited, India CIN No.: U65993TZ2002PTC010416 ·
Lakshmi Narasimha Holdings (Coimbatore) Private
Limited, India CIN No.: U07010TZ2003PTC010647 ·
Lakshmi Narasimha Holdings Private Limited, India
CIN No.: U65993TZ2002PTC010400 |
CAPITAL STRUCTURE
As on: 31.03.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
30000 |
Equity Shares |
Rs.100/- each |
Rs.3.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
Equity Shares |
Rs.100/- each |
Rs.1.726 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 |
1.726 |
1.726 |
1.726 |
|
(b) Reserves & Surplus |
2072.020 |
1772.962 |
1599.216 |
|
(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) |
2073.746 |
1774.688 |
1600.942 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
155.176 |
295.879 |
500.928 |
|
(b) Deferred tax liabilities (Net) |
129.355 |
152.380 |
169.405 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1.116 |
1.045 |
1.021 |
|
Total Non-current Liabilities (3) |
285.647 |
449.304 |
671.354 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
123.927 |
24.636 |
109.432 |
|
(b) Trade payables |
81.617 |
74.078 |
26.468 |
|
(c) Other current
liabilities |
252.774 |
265.232 |
114.855 |
|
(d) Short-term provisions |
0.202 |
0.201 |
0.201 |
|
Total Current Liabilities (4) |
458.520 |
364.147 |
250.956 |
|
|
|
|
|
|
TOTAL |
2817.913 |
2588.139 |
2523.252 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
754.528 |
816.600 |
922.099 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
158.913 |
25.800 |
25.800 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
73.968 |
84.501 |
74.863 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
987.409 |
926.901 |
1022.762 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
23.142 |
1.194 |
0.000 |
|
(b) Inventories |
495.711 |
341.634 |
329.794 |
|
(c) Trade receivables |
49.673 |
52.543 |
92.967 |
|
(d) Cash and cash
equivalents |
1136.601 |
1123.607 |
875.840 |
|
(e) Short-term loans and
advances |
62.791 |
31.723 |
123.255 |
|
(f) Other current assets |
62.586 |
110.537 |
78.634 |
|
Total Current Assets |
1830.504 |
1661.238 |
1500.490 |
|
|
|
|
|
|
TOTAL |
2817.913 |
2588.139 |
2523.252 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1790.801 |
1500.560 |
1522.364 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
TOTAL EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
600.287 |
439.575 |
272.379 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
43.695 |
47.839 |
48.314 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
556.592 |
391.736 |
224.065 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
120.657 |
123.050 |
122.910 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
435.935 |
268.686 |
101.155 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
136.675 |
94.735 |
33.915 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
299.260 |
173.951 |
67.240 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1570.449 |
1414.094 |
1353.779 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
29.926 |
17.395 |
6.724 |
|
|
|
Proposed Dividend |
0.173 |
0.173 |
0.173 |
|
|
|
Corporate Tax on Dividend |
0.029 |
0.028 |
0.028 |
|
|
BALANCE CARRIED
TO THE B/S |
1839.581 |
1570.449 |
1414.094 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1452.536 |
1215.323 |
1309.538 |
|
|
TOTAL EARNINGS |
1452.536 |
1215.323 |
1309.538 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
253.214 |
213.584 |
152.516 |
|
|
|
Capital Goods |
54.184 |
0.000 |
11.818 |
|
|
|
Components & Spares |
6.688 |
8.662Z |
8.956 |
|
|
TOTAL IMPORTS |
314.086 |
222.246 |
173.290 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1733.434 |
1007.594 |
3894.81 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
190.069 |
203.565 |
84.631 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activity |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
351.010 |
505.519 |
N.A |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Sales |
(%) |
16.71 |
11.59 |
4.42 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
24.34 |
17.91 |
6.64 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.39 |
10.49 |
4.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.15 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.23 |
0.30 |
0.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.99 |
4.56 |
5.98 |
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 |
1.726 |
1.726 |
1.726 |
|
Reserves & Surplus |
1599.216 |
1772.962 |
2072.020 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
1600.942 |
1774.688 |
2073.746 |
|
|
|
|
|
|
long-term borrowings |
500.928 |
295.879 |
155.176 |
|
Short term borrowings |
109.432 |
24.636 |
123.927 |
|
Current maturities of
long-term debts |
84.631 |
203.565 |
190.069 |
|
Total
borrowings |
694.991 |
524.080 |
469.172 |
|
Debt/Equity
ratio |
0.434 |
0.295 |
0.226 |
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 |
1522.364 |
1500.560 |
1790.801 |
|
|
|
(1.432) |
19.342 |
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 |
1522.364 |
1500.560 |
1790.801 |
|
Profit |
67.240 |
173.951 |
299.260 |
|
|
4.42% |
11.59% |
16.71% |
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 |
|
|
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 |
|
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Deposited from shareholders |
0.000 |
0.200 |
|
Loan and advances from related parties |
0.165 |
0.167 |
|
|
|
|
|
Total |
0.165 |
0.367 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10349561 |
27/09/2012 * |
201,600,000.00 |
EXPORT-IMPORT BANK
OF INDIA |
CENTRE ONE
BUILDING, FLOOR 21, WORLD TRADE CENTRE |
B59688796 |
|
2 |
10049560 |
06/08/2007 * |
200,000,000.00 |
IDBI BANK
LIMITED |
VISCOSE TOWERS, 1078
AVANASHI ROAD, COIMBATORE- 641018, TAMIL NADU, INDIA |
A21567656 |
|
3 |
10049763 |
02/05/2015 * |
184,000,000.00 |
ANDHRA BANK |
17 MILL ROAD,
COIMBATORE- 641001, TAMILNADU, INDIA |
C54397484 |
|
4 |
10030904 |
06/08/2007 * |
256,000,000.00 |
EXPORT IMPORT
BANK OF INDIA |
CENTRE ONE
BUILDING, FLOOR 21, WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI- 400005,
MAHARASHTRA, IND |
A21564216 |
|
5 |
80036037 |
06/08/2007 * |
425,000,000.00 |
THE BANK OF NOVA
SCOTIA |
CLASSIC TOWERS, 1547
TRICHY ROAD, COIMBATORE- 641018, TAMIL NADU, INDIA |
A21561527 |
|
6 |
90007239 |
06/08/2007 * |
100,000,000.00 |
IDBI BANK
LIMITED |
VISCOSE TOWERS,
1078 AVANASHI ROAD, COIMBATORE- 641018, TAMIL NADU, INDIA |
A21567987 |
|
7 |
90007211 |
14/08/2004 |
80,000,000.00 |
THE BANK OF NOVA
SCOTIA |
CLASSIC TOWERS,
1547; TRICHY ROAD, COIMBATORE- 641018, TAMILNADU, INDIA |
- |
|
8 |
90007208 |
07/08/2004 |
1,000,000.00 |
STANDARD
CHARTERED BANK |
19, RAJAJI
SALAI, CHENNAI- 600001, TAMIL NADU, I |
- |
|
9 |
90007191 |
18/05/2004 |
50,000,000.00 |
IDBI BANK
LIMITED |
VISCOSE TOWERS,
1078; AVANASHI ROAD, COIMBATORE- 641018, |
- |
|
10 |
90007164 |
02/08/2007 * |
175,000,000.00 |
IDBI BANK
LIMITED |
VISCOSE TOWERS, 1078
AVANASHI ROAD, COIMBATORE- 641018, TAMIL NADU, INDIA |
A21277645 |
* Date of charge modification
FIXED ASSETS:-
· Land
· Buildings
· Plant and equipment
· Factory Equipments
· Vehicles
· Livestock
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.64.95 |
|
|
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.71.84 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
65 |
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.