MIRA INFORM REPORT
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Report No. : |
339706 |
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Report Date : |
04.09.2015 |
IDENTIFICATION DETAILS
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Name : |
SEQUEL
LOGISTICS PRIVATE LIMITED |
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Registered
Office : |
431,
Chetan Society, Bopal Ghuma Road, Ahmedabad – 380 058, Gujarat |
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Tel. No.: |
91-79-61901908 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
11.03.2004 |
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Com. Reg. No.: |
04-043772 |
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Capital
Investment / Paid-up Capital : |
Rs.9.000 million |
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CIN No.: [Company Identification
No.] |
U74999GJ2004PTC043772 |
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IEC No.: |
0811015424 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAHCS9813P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in providing comprehensive solutions, services and products in the 'Critical Logistics' segments. |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an
established company having satisfactory track record. The rating takes
into consideration subject’s improved operational performance resulting in significant
increase in its profitability during FY 2014. The rating also takes note of
the favourable gap between trade receivables and payables during the year
under review. Trade relations are
reported to be fair. Business is active. Payments are reported to be usually
correct. In view of
healthy financial risk profile, 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
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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
31-03-2013.
INFORMATION PARTED BY
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Name : |
Mr. Nagendra |
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Designation : |
Accounts Manager |
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Contact No.: |
91-80-66382200 |
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Date : |
03.09.2015 |
LOCATIONS
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Registered Office : |
431,
Chetan Society, Bopal Ghuma Road, Ahmedabad – 380 058, Gujarat, India |
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Tel. No. : |
Not Available |
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Fax No. : |
Not Available |
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E-Mail : |
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Website : |
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Head Office : |
Plot No.L-374, 5th Main, 6th
Sector, HSR Layout, Bangalore – 560 102, Karnataka, India |
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Tel. No. : |
91-80-66382200 |
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E-Mail : |
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Admin Office : |
Asian House, Ground Floor, Road No.16, Near Hotel
Suncity, MIDC, Andheri (East), Mumbai – 400 093, Maharashtra, India |
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Tel. No. : |
91-22-28251751 |
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E-Mail : |
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Regional Office : |
Located at:
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Overseas Office : |
Located at: ·
Belgium ·
USA |
DIRECTORS
AS ON 30.09.2014
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Name : |
Mr. Saradchandra Himatlal Jobanputra |
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Designation : |
Director |
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Address : |
431,
Chetan Society, Bopal Ghuma Road, Ahmedabad – 380 058, Gujarat, India |
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Date of Appointment : |
11.03.2004 |
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DIN No. : |
00363518 |
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Name : |
Mr. Zankar Sharadchandra Jobanputra |
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Designation : |
Director |
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Address : |
431,
Chetan Society, Bopal Ghuma Road, Ahmedabad – 380 058, Gujarat, India |
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Date of Appointment : |
11.03.2004 |
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DIN No. : |
00593203 |
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Name : |
Mr. Rajkumar Soundara Pandian |
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Designation : |
Whole-time Director |
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Address : |
D-53,
Kodihalli, Golden Enclave, Diam, Nanjareddi Kaloni, Bangalore – 560 017,
Karnataka, India |
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Date of Appointment : |
14.03.2004 |
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DIN No. : |
02752089 |
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Name : |
Ms. Ninu Shivdas Khanna |
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Designation : |
Additional Director |
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Address : |
1302,
Stone Arch Building, Shirley Rajan Road, Off Carter Road, Bandra (West), Mumbai
– 400 050, Maharashtra, India |
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Date of Birth/Age : |
22.07.1953 |
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Date of Appointment : |
09.03.2013 |
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DIN No. : |
00015956 |
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Name : |
Mrs. Kamana Jobanputra |
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Designation : |
Additional Director |
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Address : |
D/53,
Golden Enclave, Old Airport Road, Bangalore – 560 017, Karnataka, India |
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Date of Birth/Age : |
11.05.1978 |
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Date of Appointment : |
09.03.2013 |
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DIN No. : |
06522262 |
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Name : |
Mr. Srinivasan Krishnamoorthy |
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Designation : |
Additional Director |
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Address : |
5084,
Sobha Jasmine, Outer Ring Road, Iblur, Bangalore – 560 103, Karnataka, India |
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Date of Appointment : |
27.01.2010 |
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DIN No. : |
00205992 |
KEY EXECUTIVES
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Name : |
Mr. Nagendra |
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Designation : |
Accounts Manager |
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Name : |
Shambhu J. Bhikadia |
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Designation : |
Company Secretary |
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Address : |
Flat No. E/202, Vraj Vihar-4, Near Chandan Party Plot, Satellite,
Ahmedabad – 380 015, Gujarat, India |
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Tel. No.: |
91-79-26925476 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of
holding |
|
Saradchandra Himatlal Jobanputra |
225000 |
25.00 |
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Zankar Sharadchandra Jobanputra |
225000 |
25.00 |
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Rajkumar Soundara Pandian |
225000 |
25.00 |
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Kamana Jobanputra |
225000 |
25.00 |
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Total |
900000 |
100.00 |
AS ON 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
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Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in providing comprehensive solutions, services and products in the 'Critical Logistics' segments. |
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Products/ Services : |
Logistic Services |
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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 : |
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Selling : |
Cash and Credit (30/ 60/ 90 days) |
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Purchasing : |
Cash and Credit (30/ 60/ 90 days)
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PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users and OEM’s
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No. of Employees : |
50 (Approximately) |
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Bankers : |
·
Axis Bank Limited, Trishul, 3rd
Floor, Opposite Samartheswar, Temple Law Garden, Ellisbridge, Ahmedabad – 380
006, Gujarat, India ·
Union Bank of India, Ashram Road Branch,
C.U. Shah Chambers, Ahmedabad – 380 009, Gujarat, India |
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Facilities : |
Notes: LONG TERM
BORROWINGS Nature of Security: Primary Security 1.
Outstanding Amount
of Term Loans from HDFC Bank amounting to Rs.26.590 million (P.Y. Rs.21.177 million) are secured by way of first and exclusive
charm on all present and future book debts. 2.
Outstanding Amount
of Vehicle Loans from HDFC Bank amounting to Rs.8.019 million (P.Y. Rs.1.073
million) are secured by way of
hypothecation of Vehicle. 3. Outstanding Amount of
Vehicle Loans from Union Bank of India amounting to Rs. NIL (P.Y. Rs.0.333 million) are secured
by way of hypothecation of Vehicle. Collateral Security: Outstanding Amount of
Term Loans from HDFC Bank amounting to Rs.26.590 million (P.Y. Rs.21.177
million) are secured by way of equitable mortgage of Residential Property of
Directors and their Relatives. |
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Auditors : |
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Name : |
G.K. Choksi and Company Chartered Accountants |
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Address : |
Madhuban, Near Madalpur Under Bridge, Ellisbridge, Ahmedabad – 380 006, Gujarat, India |
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Tel. No. : |
91-79-30012009 |
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Mobile No. : |
91-9925174555-56 |
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Fax No. : |
91-79-26569929 |
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E-Mail : |
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PAN
No.: |
AAAFG7623H |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Enterprises in which Key Management
Personnel exercise significant Influence : |
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Enterprise in which Relative of Key
Management Personnel exercise significant Influence : |
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CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 million |
|
500000 |
Preference Shares |
Rs.10/- each |
Rs.5.000 million |
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Total
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Rs.15.000
million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
900000 |
Equity Shares |
Rs.10/- each |
Rs.9.000 million |
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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 |
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(1)
Shareholders' Funds |
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(a) Share Capital |
9.000 |
9.000 |
13.500 |
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(b) Reserves & Surplus |
82.092 |
37.026 |
19.400 |
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(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
91.092 |
46.026 |
32.900 |
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(3) Non-Current
Liabilities |
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(a) Long-term borrowings |
23.510 |
14.544 |
18.500 |
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(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
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(c) Other long term
liabilities |
3.910 |
4.910 |
4.910 |
|
(d) Long-term
provisions |
6.246 |
3.524 |
2.127 |
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Total Non-current Liabilities
(3) |
33.666 |
22.978 |
25.537 |
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(4) Current Liabilities |
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(a) Short
term borrowings |
64.229 |
42.436 |
30.253 |
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(b) Trade
payables |
48.132 |
30.219 |
24.108 |
|
(c) Other
current liabilities |
42.362 |
48.397 |
30.346 |
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(d) Short-term
provisions |
1.900 |
0.116 |
0.000 |
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Total Current
Liabilities (4) |
156.623 |
121.168 |
84.707 |
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TOTAL |
281.381 |
190.172 |
143.144 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i)
Tangible assets |
47.558 |
28.848 |
18.232 |
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(ii)
Intangible Assets |
11.886 |
12.611 |
1.285 |
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(iii)
Capital work-in-progress |
3.125 |
0.175 |
2.049 |
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(iv)
Intangible assets under development |
0.000 |
0.000 |
7.677 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
2.131 |
3.188 |
3.446 |
|
(d) Long-term Loan and Advances |
23.704 |
17.805 |
12.050 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
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Total Non-Current
Assets |
88.404 |
62.627 |
44.739 |
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(2) Current assets |
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|
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(a)
Current investments |
0.000 |
0.000 |
0.000 |
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(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
151.461 |
102.017 |
69.524 |
|
(d) Cash
and cash equivalents |
10.902 |
6.672 |
4.516 |
|
(e)
Short-term loans and advances |
30.559 |
17.844 |
23.919 |
|
(f) Other
current assets |
0.055 |
1.012 |
0.446 |
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Total
Current Assets |
192.977 |
127.545 |
98.405 |
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|
|
|
|
|
TOTAL |
281.381 |
190.172 |
143.144 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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SALES |
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Revenue from Operations |
785.882 |
618.840 |
468.918 |
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Other Income |
1.032 |
1.176 |
0.880 |
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TOTAL |
786.914 |
620.016 |
469.798 |
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Less |
EXPENSES |
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|
|
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Operating Expenses |
427.522 |
386.595 |
317.933 |
|
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Employee Benefits Expenses |
200.820 |
148.311 |
104.827 |
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Administrative and Other Expenses |
73.583 |
43.355 |
27.873 |
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TOTAL |
701.925 |
578.261 |
450.633 |
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PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
84.989 |
41.755 |
19.165 |
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|
Less |
FINANCIAL
EXPENSES |
11.110 |
8.192 |
5.977 |
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PROFIT / (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
73.879 |
33.563 |
13.188 |
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|
Less/ Add |
DEPRECIATION/
AMORTISATION |
5.757 |
3.951 |
2.325 |
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|
PROFIT/
(LOSS) BEFORE TAX |
68.122 |
29.612 |
10.863 |
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|
Less |
TAX |
23.056 |
10.857 |
3.095 |
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PROFIT/
(LOSS) AFTER TAX |
45.066 |
18.755 |
7.768 |
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|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
37.944 |
19.189 |
11.421 |
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|
BALANCE CARRIED
TO THE B/S |
83.010 |
37.944 |
19.189 |
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EARNINGS IN FOREIGN
CURRENCY |
14.295 |
0.000 |
NA |
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|
Earnings /
(Loss) Per Share (Rs.) |
50.07 |
14.58 |
8.63 |
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Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
900.000 |
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|
The above information has been parted by Mr. Nagendra (Accounts
Manager).
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long-term debt |
11.099 |
8.039 |
7.283 |
|
Cash generated
from operations |
27.083 |
34.047 |
4.826 |
|
Net cash from operating activities |
8.911 |
24.436 |
(2.820) |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
5.73 |
3.03 |
1.66 |
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Operating Profit Margin (PBDIT/ Sales) |
(%) |
10.81 |
6.75 |
4.09 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
24.67 |
15.85 |
8.36 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.75 |
0.64 |
0.33 |
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Debt Equity Ratio (Total Debt/Networth) |
|
1.09 |
1.41 |
1.70 |
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Current Ratio (Current Asset/Current Liability) |
|
1.23 |
1.05 |
1.16 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs. In Million |
Rs. In Million |
Rs. In Million |
|
Share Capital |
13.500 |
9.000 |
9.000 |
|
Reserves & Surplus |
19.400 |
37.026 |
82.092 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
32.900 |
46.026 |
91.092 |
|
|
|
|
|
|
Long-term borrowings |
18.500 |
14.544 |
23.510 |
|
Short term borrowings |
30.253 |
42.436 |
64.229 |
|
Current Maturities of
Long term debt |
7.283 |
8.039 |
11.099 |
|
Total borrowings |
56.036 |
65.019 |
98.838 |
|
Debt/Equity ratio |
1.703 |
1.413 |
1.085 |
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 |
|
Revenue from operations |
468.918 |
618.840 |
785.882 |
|
|
|
31.972 |
26.993 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs. In Million |
Rs. In Million |
Rs. In Million |
|
Revenue from operations |
468.918 |
618.840 |
785.882 |
|
Profit |
7.768 |
18.755 |
45.066 |
|
|
1.66% |
3.03% |
5.73% |
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 |
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 |
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 four 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 |
FINANCIAL RESULTS:
During the Current year
Company has achieved gross revenue of Rs.786.914 million which is 21.21% higher
as compared to previous year. The net profit has moderately increased as
compare to previous year though expenditure has increased because of increase in
the gross revenue
REVIEW OF OPERATION:
The Company has presence in
all the verticals of 'Supply Chain Management and Logistics' having a national
presence. However the company intends to position itself as 'Critical Logistics
Service Provider. During the year, the Company increased its geographical reach
and has presence in all states of the Country.
OUT LOOK FOR 2014-15:
In the year 2014-2015, the
Company intends to extend 'Critical Logistics Service' to various customers through
the length and breadth of the country. The Company has already entered in
contracts with various players in High Value Luxury items. This will have very
positive impact on the financials of the year 20 14-2015.
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
SHORT TERM
BORROWINGS |
|
|
|
From
Directors and Relatives |
1.364 |
1.951 |
|
Total |
1.364 |
1.951 |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10561680 |
17/09/2014 |
725,727.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL (WEST),
MUMBAI, MAHARASHTRA - 400013, INDIA |
C50138643 |
|
2 |
10511375 |
17/07/2014 |
4,490,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
C13916606 |
|
3 |
10511371 |
17/07/2014 |
4,737,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
C13915194 |
|
4 |
10511373 |
17/07/2014 |
5,273,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
C13916051 |
|
5 |
10484130 |
18/03/2014 |
1,058,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
C00170688 |
|
6 |
10466375 |
23/10/2013 |
5,051,130.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
B92038256 |
|
7 |
10304557 |
27/03/2015 * |
220,007,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
C48426332 |
* Date of charge modification
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
Bank Guarantee |
2.600 |
0.400 |
FIXED ASSETS
Tangible Assets
·
Plant
and Machinery
·
Air-conditioner
·
Furniture
and Fixtures
·
Leasehold
Improvements
·
Vehicles
·
Office
Equipments
·
Mobile
·
Computers
Intangible Assets
·
Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.23 |
|
UK Pound |
1 |
Rs.101.22 |
|
Euro |
1 |
Rs.74.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
TRI |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
6 |
|
--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 |
|
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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.