MIRA INFORM REPORT

 

 

Report No. :

347522

Report Date :

28.10.2015

 

IDENTIFICATION DETAILS

 

Name :

ACE BRAIN SYSTEMS AND SOFTWARE PRIVATE LIMITED

 

 

Registered Office :

No. 1559, Sadashiv Peth, Tilak Road, Opposite Hotel Suryah, Pune – 411030, Maharashtra

Tel. No.:

91-22-65605060

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

19.05.1998

 

 

Com. Reg. No.:

11-012516

 

 

Capital Investment / Paid-up Capital :

Rs. 6.250 Million

 

 

CIN No.:

[Company Identification No.]

U72200PN1998PTC012516

 

 

IEC No.:

3106013885

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

PNEA02547G

 

 

PAN No.:

[Permanent Account No.]

AADCA7232L

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Dealer of Acer, HP, Dell, Lenova, Samsung, Epson, Ricoh, Canon, Cisco, TVSE.

 

 

No. of Employees :

85 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

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 an established company incorporated in the year 1990 having satisfactory track.

 

As per financials of the year 2015, company possesses below average operational performance with low profit margin.

 

However, rating takes into consideration company's acceptable financial risk profile supported by adequate net worth base and low debt balance sheet profile of the company.

 

Trade relations are reported as fair. Business is active. Payments are reported to be slow but correct.

 

In view of aforesaid, the company 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

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 (Suspended) = B+

Rating Explanation

Risk-prone-credit-quality and carries very high credit risk.

Date

December 06, 2014

 

Rating Agency Name

CRISIL

Rating

Short term Bank Facilities (Suspended) = A4

Rating Explanation

Minimal degree of safety and very high credit risk

Date

December 06, 2014

 

Reason for suspension = Absence of requisite information.

 

 

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. Sarang Yashwant Satarkar

Designation :

Director

Contact No.:

91-9850065222

Date :

28.10.2015

 

 

LOCATIONS

 

Registered Office :

No. 1559, Sadashiv Peth, Tilak Road, Opposite Hotel Suryah, Pune – 411030, Maharashtra, India

Tel. No.:

91-20-65605060/ 1/ 2/ 3/ 4/ 24335871/ 24329731

Mobile No.:

91-9423005472 (Mr. Yogesh Pramod Godbole)

91-9850065222 (Mr. Sarang Yashwant Satarkar)

Fax No.:

91-20-24329730 / 1 / 2 / 24335871

E-Mail :

yogesh@acebrain.com

sarang@acebrain.com 

Website :

http://www.acebrain.co.in

Area:

1200 Sq ft

Location:

Owned

 

 

Branch Address / Head office :

Office No. 10 to 14, 2nd Floor, Bhakti Plaza, Near Bremen Circle, Aundh, Pune – 411007, Maharashtra, India

Tel. No.:

91-20-64019348/ 64010058

Fax No.:

91-20-24329732

E-Mail :

enquiry@acebrain.com

 

 

Warehouse / Godown :

Rose Wood Park, RH 8, Near BSNL Telephone Exchange, Pune Neagar Road, Wagholi, Pune – 412207, Maharashtra, India 

Fax No.:

91-20-24329732

E-Mail :

stores@acebrain.com

sharvari@acebrain.com

Area :

1300 Sq. ft

Location :

Rented

 

 

Sales Office:

5407, Maverick Point Lane, Katy, Texas – 77494, USA.

E-Mail :

sales.usa@acebrain.com

 

 

DIRECTORS

 

AS ON 31.03.2015

 

Name :

Mr. Sandeep Madhav Bendigiri

Designation :

Director

Address :

B-1703, Gagan Vihar, Near Gagan Dham, Marketyard, Pune – 411037, Maharashtra, India

Date of Birth/Age :

12.04.1968

Qualification :

B.C.S.

Experience :

22 Years

Date of Appointment :

19.05.1998

DIN No.:

00026177

 

 

Name :

Mr. Sarang Yashwant Satarkar

Designation :

Director

Address :

501, Cordia, Nyati Estate, Phase-II, Mohmmadwadi, Pune – 411029, Maharashtra, India

Date of Birth/Age :

17.07.1970

Qualification :

B.E.

Experience :

22 Years

Date of Appointment :

19.05.1998

DIN No.:

00018732

 

 

Name :

Mr. Yogesh Pramod Godbole

Designation :

Director

Address :

F. No. 202, Erythrenea Nyati Estate, Phase – II, Mohamedwadi, Pune – 411029, Maharashtra, India

Date of Birth/Age :

18.03.1969

Qualification :

B.E.

Experience :

22 Years

Date of Appointment :

19.05.1998

DIN No.:

00018746

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 31.03.2015

 

Names of Shareholders

 

No. of Shares

Yogesh Pramod Godbole

 

208500

Sarang Yashwant Satarkar

 

208500

Sandeep Madhav Bendigiri

 

208500

Total

 

625500

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Dealer of Acer, HP, Dell, Lenova, Samsung, Epson, Ricoh, Canon, Cisco, TVSE.

 

 

Products :

Hardware Products:-

Desktop : Dell, Acer, Lenovo, HP

Servers : Dell, IBM, HP

Laptops : Dell, Acer, Lenovo, HP

Storage : Dell, EMC, HP, IBM

Networks : CISCO, D-Link, DAX, Digisol, Digilink

Printers : HP ,EPSON, Samsung, Ricoh, Brother

UPS : Emerson, Uniline, APC

Biometrics Attendance : Siemens, Wyse, ESSL

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash and Credit (30 Days)

 

 

Purchasing :

Cash and Credit (30 Days)

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Iris Computers Limited

Name of the Person :

H M Pathan (Relationship Manager)

Contact No.:

91-9823673126

Since How Long Known :

12 Years

Maximum Limit Dealt :

As per Requirements

Experience :

Payment Behaviour

Market Goodwill

Overall

Good

Good

Good

Remark:

Reputed company, payment behaviour is good, they are dealing with government sector because of that sometime their payments are delayed but there is no bad intention they have on it.

 

Reference :

Redington India Limited

Name of the Person :

Mr. Mandar Khare

Contact No.:

91-9371026848 (Ringing Continuously)

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

Reference :

Ingram Micro

Name of the Person :

Mr. Kiran Morgaonkar (Branch Manager)

Contact No.:

91-9373332498

Since How Long Known :

12 Years

Maximum Limit Dealt :

As per requirement

Experience :

Payment Behaviour

Market Goodwill

Overall

Average

Good

Good

Remark:

Subject is dealing with government sectors, having good reputation in market, payment behaviour is delayed sometimes because they received their payment late from their end users (government sector) but overall the subject company is having good trade record.

 

 

Customers :

End Users and Government Sector

 

  • Tribal Commissioner Nashik
  • Director of Vocational Education Training
  • Bombay City Civil and Session Court
  • Central Excise Department
  • CId Branch
  • Conservator of Forest
  • Director of Information Technology
  • District Information Office
  • Dr.Babasaheb Ambedkar Marathwada University
  • Dr.Babasaheb Ambedkar Technological University
  • Hotel Management and Catering

 

Reference :

The Collector, District Collector Office, Pune, Maharashtra, India

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 :

85  (Approximately)

 

 

Bankers :

Banker Name

State Bank of India

Branch Address

Deccan Gymkhana Commercial Branch, Shirole Bhavan, PMT Building, J M Road, Pune – 411004, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

30330628232

MICR No.:

411002003

IRSC No.:

SBIN0001110

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Cash Credit A/c

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

Auditors :

 

Name :

M.N. Devi and Associates

Chartered Accountants

Address :

'A' 101 and 102,Shreenath Plaza, Dnyaneshwar Paduka Chowk, Shivajinagar, Pune – 411005, Maharashtra, India

Tel. No.:

91-20-25513735

E-Mail :

mndevi@rediffmail.com

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

AAAAM5961F

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Subsidiaries (AS ON 31.03.2013):

·         Ace Brain Technologies Private Limited

CIN No.: U72200PN2007PTC130242

 

·         Arithematic System and Technology

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015

 

Authorised Capital : Not Available

 

Issued, Subscribed & Paid-up Capital : Rs. 6.250 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2015

31.03.2014

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

6.250

6.250

2] Share Application Money

 

0.000

0.000

3] Reserves & Surplus

 

66.863

67.228

4] (Accumulated Losses)

 

0.000

0.000

NETWORTH

 

73.113

73.478

LOAN FUNDS

 

 

 

1] Long term borrowings

 

1.324

1.639

2] Short term borrowings

 

0.000

0.000

TOTAL BORROWING

 

1.324

1.639

DEFERRED TAX LIABILITIES

 

0.000

0.000

 

 

 

 

TOTAL

 

74.437

75.117

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

8.750

11.711

Capital work-in-progress

 

0.000

0.000

 

 

 

 

INVESTMENT

 

0.135

2.635

DEFERRED TAX ASSETS

 

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 

4.498

11.011

 

Sundry Debtors
 

99.150

125.500

 

Cash & Bank Balances
 

1.839

0.259

 

Other Current Assets
 

23.254

20.019

 

Loans & Advances
 

21.230

29.261

Total Current Assets
 

 

 

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
 

59.327

99.013

 

Other Current Liabilities and Provisions
 

25.092

26.266

Total Current Liabilities
 

84.419

125.279

Net Current Assets
 

65.552

60.771

 

 

 

 

MISCELLANEOUS EXPENSES

 

0.000

0.000

 

 

 

 

TOTAL

 

74.437

75.117

 

SOURCES OF FUNDS

 

 

 

31.03.2013

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

 

 

6.250

(b) Reserves & Surplus

 

 

62.982

(c) Money received against share warrants

 

 

0.000

 

 

 

 

(2) Share Application money pending allotment

 

 

0.000

Total Shareholders’ Funds (1) + (2)

 

 

69.232

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

 

 

0.404

(b) Deferred tax liabilities (Net)

 

 

0.000

(c) Other long term liabilities

 

 

0.000

(d) long-term provisions

 

 

0.000

Total Non-current Liabilities (3)

 

 

0.404

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

 

 

0.000

(b) Trade payables

 

 

91.820

(c) Other current liabilities

 

 

3.369

(d) Short-term provisions

 

 

20.811

Total Current Liabilities (4)

 

 

116.000

 

 

 

 

TOTAL

 

 

185.636

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

 

 

7.762

(ii) Intangible Assets

 

 

0.000

(iii) Capital work-in-progress

 

 

0.000

(iv) Intangible assets under development

 

 

0.000

(b) Non-current Investments

 

 

2.635

(c) Deferred tax assets (net)

 

 

0.000

(d)  Long-term Loan and Advances

 

 

0.000

(e) Other Non-current assets

 

 

0.168

Total Non-Current Assets

 

 

10.565

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

 

0.000

(b) Inventories

 

 

5.658

(c) Trade receivables

 

 

140.054

(d) Cash and cash equivalents

 

 

1.073

(e) Short-term loans and advances

 

 

5.013

(f) Other current assets

 

 

23.273

Total Current Assets

 

 

175.071

 

 

 

 

TOTAL

 

 

185.636

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

 

Income

577.323

239.827

354.411

 

 

Other Income

9.383

37.003

2.570

 

 

TOTAL                                              (A)

586.706

276.830

356.981

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

520.258

207.887

263.618

 

 

Variation in Stocks

6.513

(5.353)

3.556

 

 

Direct Expenses

0.822

0.209

0.115

 

 

Other Expenses

55.946

65.257

77.113

 

 

TOTAL                                    

583.539

268.000

344.402

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

3.167

8.830

12.579

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION                    

2.091

1.997

2.810

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX 

1.076

6.833

9.769

 

 

 

 

 

Less

TAX                                                                 

 NA

2.468

0.066

 

 

 

 

 

 

PROFIT/(LOSS) AFTER TAX

 NA

4.365

9.703

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

NA

NA

NA

Net cash flow from (used in) operations

NA

NA

NA

 

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

PAT / Sales

(%)

0.19

1.82

2.74

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets)

(%)

0.68

3.46

5.34

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.01

0.09

0.14

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.02

0.02

0.01

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.78

1.49

1.51

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2013

31.03.2014

31.03.2015

 

Rs. In Million

Rs. In Million

Rs. In Million

Share Capital

6.250

6.250

6.250

Reserves & Surplus

62.982

67.228

66.863

Net worth

69.232

73.478

73.113

 

 

 

 

long-term borrowings

0.404

1.639

1.324

Short term borrowings

0.000

0.000

0.000

Total borrowings

0.404

1.639

1.324

Debt/Equity ratio

0.006

0.022

0.018

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

31.03.2015

 

Rs. In Million

Rs. In Million

Rs. In Million

Sales

354.411

239.827

577.323

 

 

(32.331)

140.725

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

Rs. In Million

Rs. In Million

Rs. In Million

Sales

354.411

239.827

577.323

Profit before tax

9.769

6.833

1.076

 

2.76%

2.85%

0.19%

 

 

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

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

Yes

17

Details of sister concerns

Yes

18

Major suppliers

Yes

19

Major customers

Yes

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

ABOUT ACE BRAIN

 

Subject is leading IT company in Maharashtra, Goa,. It has been offering a complete IT Solution to Government Institutions. Ace Brain registered with DGS & D,DRDO, Maharashtra Government , Goa Government and runs various rate contracts with Governments and Semi Government Organization and Banks. Ace Brain is since 1991 old company and has more than 300.000 Million in revenues with strong 67 resources to manage operations.

 

COMPREHENSIVE PRODUCT PORTFOLIO

 

Subject an end-to-end IT solutions portfolio comprising of Desktops, Servers, Networking, Printers and backup devices such as UPS, Tape Backups etc. as well as Biometric Attendance management system. It boasts of a strong management team and domain expertise. With a robust 365 days customer support, it ensures that your operation never stops. It is the only company with end-to-end integrated

 

Infrastructure: Support services covering all districts of Maharashtra and Goa states backed by dedicated support center located in Pune.

 

Corporate Partners

Samsung Electronics

 

Software Solutions and Services:-

Operating Systems : Microsoft

Engineering Design : think3

 

ISO 9001:2000 Certification:-

 

ACE BRAIN is ISO 9001:2000 certified company for After Sales Support and Sales, Distribution. Strong technology back end with implementation of world standard CRM modules give customers advantage. There are very few competitors have ISO certification for after sales support.

 

DISTRIBUTOR’S NAME

 

Name                            : Redington India Limited

Contact Person                         : Mr. Mandar Khare

Contact No.                  : 91-9371026848

 

 

Name                            : Ingram Micro

Contact Person                         : Mr. Kiran Morgaonkar

Contact No.                  : 91-9373332498

 

 

Name                            : Iris Computers Limited

Contact Person                         : Mr. H. M. Pathan

Contact No.                  : 91-9823673126

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10090573

24/04/2015 *

85,000,000.00

STATE BANK OF INDIA DECCAN GYMKHANA BRANCH

PMT HOSE SHIROLE BHAVAN 1ST FLOOR, DECCAN GYMKHAN
A, PUNE, MAHARASHTRA - 411004, INDIA

C55033344

 

* Date of charge modification

 

FIXED ASSETS

 

·         Furniture and Fixtures

·         Electrical Installation

·         Vehicles

·         Office equipment

·         Computers

 

 

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 records 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.64.96

UK Pound

1

Rs.99.73

Euro

1

Rs.71.84

 

 

INFORMATION DETAILS

 

Information Gathered by :

SVA

 

 

Analysis Done by :

HNA

 

 

Report Prepared by :

KVT /NKT

 

 

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

4

--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

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

 

45

 

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.