MIRA INFORM REPORT
|
Report No. : |
347677 |
|
Report Date : |
30.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
JINDAL STAINLESS STEELWAY LIMITED |
|
|
|
|
Registered
Office : |
Jindal Centre-12, Bhikaji Cama Place, New Delhi – 110066 |
|
Tel. No.: |
91-11-26188345 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
06.08.2004 |
|
|
|
|
Com. Reg. No.: |
55-128146 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.171.669 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109DL2004PLC128146 |
|
|
|
|
IEC No.: |
0504052667 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCJ4346C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Slitting/Cutting to Length / Polishing products in coil form of steel/Sheet form. |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2000000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Clear |
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|
Comments : |
Subject was incorporated in the year 2004 to undertake the processing
and distribution of stainless steel, is promoted by Jindal Stainless Limited
(81.91%) and Huron Bay Limited, Mauritius (18.09%) (A promoter group company
of Mr. Ratan Jindal, the promoter of JSL). It plants are located at Gurgaon,
Chennai, Vadodara and Mumbai. It has satisfactory track record. Profitability of the company is low during FY2014. There is
unfavorable gap between trade receivables and trade payables. However, the
company possesses a decent profile marked by adequate networth base along
with increased in cash level. The ratings continue to derive strength from the experienced promoter
group and the established position of JSSL in the stainless steel processing
industry. Trade relations are fair. Business is active. Payment terms are slow
and delayed. 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 |
CARE |
|
Rating |
Long term bank facilities= BBB- |
|
Rating Explanation |
Have moderate degree of safety and carry
moderate credit risk. |
|
Date |
18.09.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities= A3 |
|
Rating Explanation |
Have moderate degree of safety and carry
higher credit risk. |
|
Date |
18.09.2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2015.
INFORMATION DENIED
Management Non Co-operative (91-11-26188345)
LOCATIONS
|
Registered Office : |
Jindal Centre-12, Bhikaji Cama Place, New Delhi – 110066, India |
|
Tel. No.: |
91-11-26188345 |
|
Fax No.: |
91-11-26161271 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Sales /
Representative Offices : |
Plot No 64-65, 2nd Floor, Udyog Vihar, Phase-IV, Gurgaon –
122016, Haryana, India |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Ajay Kumar |
|
Designation : |
Whole-time Director |
|
Address : |
A/1002, Bhoomi Valley CHS Limited, Near N. G. Suncity, Thakur Village, Kandivali East, Mumbai - 400101, Maharashtra, India |
|
Date of Birth/Age : |
26.06.1971 |
|
Date of Appointment : |
20.07.2013 |
|
DIN No.: |
00627924 |
|
|
|
|
Name : |
Mr. Kanwaljit Singh Thind |
|
Designation : |
Additional Director |
|
Address : |
House No 6a, Model Town, Patiala - 147001, Punjab, India |
|
Date of Appointment : |
11.12.2014 |
|
DIN No.: |
06969654 |
|
|
|
|
Name : |
Mr. Deepika Jindal |
|
Designation : |
Additional Director |
|
Address : |
Jindal House, Model Town, Hisar - 125005, Haryana, India |
|
Date of Appointment : |
27.03.2015 |
|
DIN No.: |
00015188 |
|
|
|
|
Name : |
Mr. Nirmal Chandra Mathur |
|
Designation : |
Additional Director |
|
Address : |
C-2/9, Vasant Vihar, New Delhi - 110057, India |
|
Date of Appointment : |
27.03.2015 |
|
DIN No.: |
00004527 |
|
|
|
|
Name : |
Mr. Vijay Kumar Sharma |
|
Designation : |
Additional Director |
|
Address : |
House No.1057, Sector No.28, Faridabad - 121002, Haryana, India |
|
Date of Appointment : |
27.03.2015 |
|
DIN No.: |
01468701 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh Kumar Pandey |
|
Designation : |
Secretary |
|
Address : |
MH-866, Near Bharna Kuan, Shahabad Mohammadpur, New Delhi - 110061, India |
|
Date of Birth/Age : |
17.07.1979 |
|
Date of Appointment : |
21.05.2014 |
|
PAN No.: |
ARUPP2371A |
|
|
|
|
Name : |
Mr. Sanjeev Sharma |
|
Designation : |
Cheif Finance Officer |
|
Address : |
Flat No. 24, Delhi Govt. Officer Flats, Greater Kailash, Part-I, New Delhi - 110048, India |
|
Date of Birth/Age : |
24.07.2014 |
|
PAN No.: |
ACUPS1389Q |
MAJOR SHAREHOLDERS
AS ON 26.09.2014
|
Names of Shareholders |
No. of Shares |
|
Shanti Swaroop Saxena |
200 |
|
Rajiv Rajvanshi |
100 |
|
JSL Stainless Limited |
14061067 |
|
Sunil Mittal |
100 |
|
Ved Vashisth |
100 |
|
Huron Bay Limited |
3105257 |
|
Pravinkant Modi |
100 |
|
|
|
|
Total |
17166924 |
Equity Share Break up (Percentage of Total Equity)
AS ON 26.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
18.09 |
|
Bodies corporate |
81.91 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Slitting/Cutting to Length / Polishing products in coil form of steel/Sheet form. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
· Axis Bank Limited, 4/10, OPG House, Asaf Ali Road, New Delhi - 110002, India · State Bank of Patiala, SME Branch, New Railway Road, Gurgaon - 122001, Haryana, India · State Bank of India, CAG Branch, 12th Floor, Jawahar Vyapar Bhawan, 1 Tolstoy Marg, New Delhi – 110001, India · Punjab National Bank, Large Corporate Branch, U and I Building, Sector-29, Gurgaon – 122001, Haryana, India |
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Facilities : |
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Auditors : |
|
|
Name : |
N. C. Aggarwal and Company Chartered Accountants |
|
Address : |
102, Harsha House, Karampura Commercial Complex, New Delhi – 110015,
India |
|
PAN No.: |
AAAFN9149H |
|
|
|
|
Memberships : |
Not Divulged |
|
|
|
|
Collaborators : |
Not Divulged |
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Holding Company : |
· Jindal Stainless Limited |
|
|
|
|
Fellow Subsidiary
Companies : |
· PT Jindal Stainless Indonesia · JSL Architecture Limited · JSL Lifestyle Limited · Jindal Stainless UK Limited · Jindal Stainless FZE · Jindal Stainless S.r.l. Italy · Green Delhi BQS Private Limited · Jindal stainless Madencilik Sanayi Ve Ticaret A.S Turkey · JSL Group Holdings Pte. Limited, Singapore · JSL Ventures Pte. Limited, Singapore · JSL Europe S.A., Switzerland · JSL Minerals & Metals S.A., Switzerland · Jindal Aceros Inoxidables S.L. Spain · JSL Logistics Limited · Iberjindal S.L., Spain · JSL Media Limited |
|
|
|
|
Associate : |
· J.S.S. Steelitalia Limited |
CAPITAL STRUCTURE
AS ON 26.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17166924 |
Equity Shares |
Rs.10/- each |
Rs.171.669 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 |
171.669 |
171.669 |
171.669 |
|
(b) Reserves & Surplus |
527.154 |
490.802 |
483.669 |
|
(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) |
698.823 |
662.471 |
655.338 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
247.087 |
392.671 |
480.869 |
|
(b) Deferred tax liabilities (Net) |
27.485 |
6.858 |
2.029 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
10.714 |
7.154 |
4.095 |
|
Total Non-current
Liabilities (3) |
285.286 |
406.683 |
486.993 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
868.714 |
1136.664 |
1151.630 |
|
(b) Trade
payables |
1726.945 |
1623.638 |
1646.075 |
|
(c) Other
current liabilities |
284.962 |
232.801 |
233.718 |
|
(d) Short-term
provisions |
0.205 |
113.492 |
114.598 |
|
Total Current
Liabilities (4) |
2880.826 |
3106.595 |
3146.021 |
|
|
|
|
|
|
TOTAL |
3864.935 |
4175.749 |
4288.352 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
908.094 |
992.612 |
797.105 |
|
(ii)
Intangible Assets |
15.210 |
0.081 |
0.166 |
|
(iii)
Capital work-in-progress |
0.215 |
2.910 |
175.186 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
97.132 |
97.132 |
97.132 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
290.741 |
312.481 |
356.759 |
|
(e) Other
Non-current assets |
25.274 |
55.066 |
0.000 |
|
Total Non-Current
Assets |
1336.666 |
1460.282 |
1426.348 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
886.050 |
1073.825 |
1253.718 |
|
(c) Trade
receivables |
1119.919 |
1068.805 |
1003.375 |
|
(d) Cash
and cash equivalents |
161.293 |
108.735 |
148.773 |
|
(e)
Short-term loans and advances |
357.973 |
462.025 |
438.299 |
|
(f) Other
current assets |
3.034 |
2.077 |
17.839 |
|
Total
Current Assets |
2528.269 |
2715.467 |
2862.004 |
|
|
|
|
|
|
TOTAL |
3864.935 |
4175.749 |
4288.352 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
10388.902 |
8898.258 |
8362.776 |
|
|
|
|
Other Income |
76.708 |
86.387 |
46.185 |
|
|
|
|
TOTAL (A) |
10465.610 |
8984.645 |
8408.961 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
7328.453 |
6604.378 |
6365.792 |
|
|
|
|
Purchase of Stock-in-trade |
2293.267 |
1631.113 |
1712.775 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
51.076 |
37.708 |
(122.361) |
|
|
|
|
Employee Benefits Expenses |
114.281 |
94.995 |
76.179 |
|
|
|
|
Other Expenses |
247.547 |
190.302 |
153.974 |
|
|
|
|
TOTAL (B) |
10034.624 |
8558.496 |
8186.359 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
430.986 |
426.149 |
222.602 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
284.738 |
333.796 |
396.413 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
146.248 |
92.353 |
(173.811) |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
87.598 |
80.391 |
73.347 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
58.650 |
11.962 |
(247.158) |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
22.298 |
4.829 |
(78.742) |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
36.352 |
7.133 |
(168.416) |
||
|
|
|
|
|
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|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
0.000 |
20.483 |
68.131 |
|
|
|
|
Stores & Spares |
4.981 |
19.262 |
2.206 |
|
|
|
|
Capital Goods |
0.000 |
56.273 |
21.700 |
|
|
|
TOTAL IMPORTS |
4.981 |
96.018 |
92.037 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
2.12 |
0.42 |
(9.81) |
||
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
184.467 |
124.759 |
102.928 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operations |
644.890 |
527.369 |
181.915 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
0.35 |
0.08 |
(2.01) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
4.15 |
4.79 |
2.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.56 |
0.29 |
(6.15) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.02 |
(0.38) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.86 |
2.50 |
2.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.88 |
0.87 |
0.91 |
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 |
171.669 |
171.669 |
171.669 |
|
Reserves & Surplus |
483.669 |
490.802 |
527.154 |
|
Net
worth |
655.338 |
662.471 |
698.823 |
|
|
|
|
|
|
long-term borrowings |
480.869 |
392.671 |
247.087 |
|
Short term borrowings |
1151.630 |
1136.664 |
868.714 |
|
Current Maturities of Long term debt |
102.928 |
124.759 |
184.467 |
|
Total
borrowings |
1735.427 |
1654.094 |
1300.268 |
|
Debt/Equity
ratio |
2.648 |
2.497 |
1.861 |
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 |
8362.776 |
8898.258 |
10388.902 |
|
|
|
6.403 |
16.752 |
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
|
8362.776 |
8898.258 |
10388.902 |
|
Profit |
-168.416 |
7.133 |
36.352 |
|
|
-2.01% |
0.08% |
0.35% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10349500 |
27/03/2012 |
1,091,000.00 |
STATE BANK OF PATIALA |
SME BRANCH,, NEW RAILWAY ROAD, GURGAON, HARYANA - 122001, INDIA |
B37520236 |
|
2 |
10334094 |
14/06/2012 * |
1,800,000,000.00 |
STATE BANK OF INDIA (LEAD BANK) |
CAG BRANCH, 12TH FLOOR, JAWAHAR VYAPAR BHAWAN, 1, TOLSTOY MARG, NEW DELHI, DELHI - 110001, INDIA |
B42960617 |
|
3 |
10321281 |
15/11/2011 |
242,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. ANNIE BESANT ROAD, WORLI,, MUMBAI, MAHARASHTRA - 400018, INDIA |
B26953133 |
|
4 |
10298286 |
06/07/2012 * |
220,000,000.00 |
STATE BANK OF PATIALA |
SME
BRANCH, NEW RAILWAY ROAD, GURGAON, HARYANA - |
B44095149 |
|
5 |
10231904 |
06/07/2012 * |
77,500,000.00 |
STATE BANK OF INDIA |
CAG
BRANCH, 12TH FLOOR,, JAWAHAR VYAPAR BHAWAN, 1 |
B56231855 |
|
6 |
10126550 |
06/07/2012 * |
224,600,000.00 |
STATE BANK OF PATIALA |
SME
BRANCH, NEW RAILWAY ROAD, GURGAON, HARYANA - |
B44095644 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
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 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.65.15 |
|
|
1 |
Rs.99.36 |
|
Euro |
1 |
Rs.71.25 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
4 |
|
--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 |
|
41 |
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.