MIRA INFORM REPORT
|
Report No. : |
341253 |
|
Report Date : |
15.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
KRISHNA SHEET PROCESSORS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
801, Business Classic, 8th Floor, |
|
Tel. No.: |
91-22-23453411 |
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|
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Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
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|
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Date of
Incorporation : |
10.04.1995 |
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|
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Com. Reg. No.: |
11-087327 |
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Capital
Investment / Paid-up Capital : |
Rs.31.220 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100MH1995PTC087327 |
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|
|
IEC No.: |
0397025670 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMK13053F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK9040M |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trading and Processing of all types of M.S. Iron and Steel. |
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|
|
|
No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a part of the Krishna group. It is a well-established company incorporated in the year 1995 having
satisfactory track. The company possesses an above average financial profile marked by a
healthy networth and decent liquidity position However, the ratings strengths are partially offset by susceptibility
of the profit margin due to volatility in steel prices and exposure to
intense competition. Trade relations are reported as fair. Business is active. Payment are
reported as slow but correct The company can be considered normal 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 |
CRISIL |
|
Rating |
Long Term Rating =
BBB- |
|
Rating Explanation |
Moderate degree of
safety and carry moderate credit risk.
|
|
Date |
17.03.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating =
A3 |
|
Rating Explanation |
Moderate degree of
safety and carry higher credit risk. |
|
Date |
17.03.2015 |
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 PARTED BY
|
Name : |
Ms. Reena |
|
Designation : |
Account Department |
|
Contact No.: |
91-22-40033333 |
|
Date : |
14.09.2015 |
LOCATIONS
|
Registered Office : |
801, Business Classic, 8th Floor, Chincholi Bunder Road,
Off S.V. Road, Malad (West), Mumbai – 400064, Maharashtra, India |
|
Tel. No.: |
91-22-40033333 |
|
Mobile No.: |
91-9324604157 (Mr. Yasan) |
|
Fax No.: |
91-91-22-23411739 |
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E-Mail : |
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|
Website : |
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|
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Warehouse : |
C-26, M.I.D.C., Taloja, Navi Mumbai, |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Mr. Kapilkumar Rupchand Agarwal |
|
Designation : |
Director |
|
Address : |
E-403, Pleasant Park, Plot No.60, |
|
Date of Birth/Age : |
20.09.1964 |
|
Date of Appointment : |
10.04.1995 |
|
DIN No.: |
00216944 |
|
PAN No.: |
AACPA0977E |
|
|
|
|
Name : |
Mr. Dharampal Rameshwar Dass Gupta |
|
Designation : |
Director |
|
Address : |
Row House No.13, Village Naupada Junction of LBS Marg, Eastern
Highway, Thane – 400602, |
|
Date of Birth/Age : |
10.02.1948 |
|
Date of Appointment : |
10.04.1995 |
|
DIN No.: |
00216983 |
|
PAN No.: |
ABTPG1622L |
|
|
|
|
Name : |
Mr. Biharisaran Babulal Khandelwal |
|
Designation : |
Director |
|
Address : |
A-602, Millenium Garden, Upper Govind Nagar, Malad (East), Mumbai –
400097, Maharashtra, India |
|
Date of Birth/Age : |
20.10.1947 |
|
Date of Appointment : |
10.04.1995 |
|
DIN No.: |
00217021 |
|
PAN No.: |
AACPK5606Q |
KEY EXECUTIVES
|
Name : |
Ms. Reena |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Biharisaran Khandelwal |
|
19300 |
|
Biharisaran Khandelwal (HUF) |
|
7000 |
|
Shashikala B. Khandelwal |
|
35250 |
|
Sheenu V. Khandelwal |
|
31500 |
|
Vikram B. Khandelwal |
|
11000 |
|
Kapil Kumar Agarwal |
|
27000 |
|
Bindu K. Agarwal |
|
47550 |
|
Dharampal R. Gupta |
|
3800 |
|
Rajendrakumar Singhal |
|
100 |
|
Rohit D. Gupta |
|
23000 |
|
Premier Soya Limited, |
|
23495 |
|
Indo Con Core Private Limited, |
|
11830 |
|
Smita R. Gupta |
|
4100 |
|
Sudha D. Gupta |
|
300 |
|
Krishna Coil Cutter Private Limited, |
|
66975 |
|
Total |
|
312200 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
35.00 |
|
Directors or relatives of Directors |
65.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading and Processing of all types of M.S. Iron and Steel. |
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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 Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Cash and Cheque |
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Purchasing : |
Cash and Cheque |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
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Auditors : |
|
|
Name : |
Thakkar and Somaiya Chartered Accountants |
|
Address : |
101-A/102-B, Giriraj 1st Floor, Sant Tukaram Road, Mumbai –
400009, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFT1285G |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates : |
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CAPITAL STRUCTURE
AS ON 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs.50.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
312200 |
Equity Shares |
Rs.100/-
each |
Rs.31.220
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 |
31.220 |
31.220 |
31.220 |
|
(b) Reserves & Surplus |
527.382 |
501.059 |
465.522 |
|
(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) |
558.602 |
532.279 |
496.742 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3.129 |
1.098 |
0.482 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
3.129 |
1.098 |
0.482 |
|
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
31.688 |
31.555 |
1.556 |
|
(b) Trade
payables |
226.189 |
469.804 |
314.570 |
|
(c) Other
current liabilities |
349.258 |
153.140 |
173.796 |
|
(d) Short-term
provisions |
12.479 |
16.603 |
13.767 |
|
Total Current
Liabilities (4) |
619.614 |
671.102 |
503.689 |
|
|
|
|
|
|
TOTAL |
1181.345 |
1204.479 |
1000.913 |
|
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|
|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
60.133 |
48.161 |
49.407 |
|
(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 |
62.631 |
62.631 |
62.631 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
50.621 |
52.084 |
87.853 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
173.385 |
162.876 |
199.891 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
30.451 |
0.000 |
0.000 |
|
(b)
Inventories |
262.400 |
413.107 |
157.301 |
|
(c) Trade
receivables |
488.539 |
416.343 |
335.956 |
|
(d) Cash
and cash equivalents |
173.266 |
130.664 |
141.648 |
|
(e)
Short-term loans and advances |
53.304 |
81.489 |
166.117 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1,007.960 |
1,041.603 |
801.022 |
|
|
|
|
|
|
TOTAL |
1181.345 |
1204.479 |
1000.913 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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SALES |
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Income |
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Other Income |
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TOTAL |
2880.671 |
3032.409 |
2900.056 |
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|
Less |
EXPENSES |
2839.045 |
2978.414 |
2855.170 |
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PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
41.626 |
53.995 |
44.886 |
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|
Less |
DEPRECIATION/
AMORTISATION |
2.977 |
2.655 |
2.558 |
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|
PROFIT/(LOSS)
BEFORE TAX |
38.649 |
51.340 |
42.328 |
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Less |
TAX |
12.326 |
15.803 |
13.698 |
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PROFIT/(LOSS)
AFTER TAX |
26.323 |
35.537 |
28.630 |
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APPROPRIATIONS |
|
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Transfer to General Reserve |
NA |
35.000 |
29.000 |
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|
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Total |
NA |
35.000 |
29.000 |
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IMPORTS |
|
|
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|
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|
C. I. F. Value of Imports |
126.759 |
479.092 |
NA |
|
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TOTAL IMPORTS |
126.759 |
479.092 |
NA |
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|
Earnings /
(Loss) Per Share (Rs.) |
84.31 |
113.83 |
91.70 |
||
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Total Income) |
(%) |
0.01
|
0.01 |
0.01 |
|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.45 |
4.50 |
4.51 |
|
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|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.10 |
0.09 |
|
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|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.06 |
0.06 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.63 |
1.55 |
1.59 |
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 |
31.220 |
31.220 |
31.220 |
|
Reserves & Surplus |
465.522 |
501.059 |
527.382 |
|
Net
worth |
496.742 |
532.279 |
558.602 |
|
|
|
|
|
|
Long Term borrowings |
0.482 |
1.098 |
3.129 |
|
Short Term borrowings |
1.556 |
31.555 |
31.688 |
|
Total
borrowings |
2.038 |
32.653 |
34.817 |
|
Debt/Equity
ratio |
0.004 |
0.061 |
0.062 |
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 |
|
Total Income |
2900.056 |
3032.409 |
2880.671 |
|
|
|
4.564 |
(5.004) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Million |
Rs.
In Million |
Rs.
In Million |
|
Total Income |
2900.056 |
3032.409 |
2880.671 |
|
Profit |
28.630 |
35.537 |
26.323 |
|
|
0.99% |
1.17% |
0.91% |
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 |
Yes |
|
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 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 |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
NOTE: Registered office of the company has been shifted from Village Sapgaon Post Office khutghar Tal Shahpur Thane -421601, Maharashtra, India to the present address w.e.f. 01.04.2008
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
31.688 |
31.555 |
|
Total |
31.688 |
31.555 |
OPERATIONS:
During the year, the company has been able to achieve Sales and Other Income of Rs.2886.700 Million and Decreased by 05.00% as compared to the previous year. The Pre-Tax Net Profits have down Rs.38.649 Million in the Current Year to Rs.51.340 Million. In Previous Year representing downward trend by 24.72%. Thus the margin of net profit slightly lower by 21.29%.
However the margins have been decreased marginally due to decreased in volume of Turnover in slack and tough competitive markets in the Current Year as compared to the previous year. The performance of the company even though is quiet better. The directors are however confident and capable as well to maintain the status quo as long as their consistent efforts to up lift the efficiencies in all the segments of its operation in the prevailing circumstances of market in India as well as International Market.
FUTURE OUTLOOK:
The economy has been passing through slow down particularly in automobiles, construction and infrastructures in view of lack of fund with Governmental Authorities. However, the directors feel that this scenario would not last too long and rays of hopes cannot be ruled out. As a protective approach, the directors are finding new avenues and opportunities to strengthen the working of the company.
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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 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.66.37 |
|
UK Pound |
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.75.32 |
INFORMATION DETAILS
|
Information Gathered
by : |
KAM |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
GTA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
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 |
|
44 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.