MIRA INFORM REPORT

 

 

Report No. :

343245

Report Date :

30.09.2015

 

 

IDENTIFICATION DETAILS

 

Name :

CONCAST BENGAL INDUSTRIES LIMITED

 

 

Registered Office :

21, Hemant Basu Sarani, 5th Floor, Room No.511 and 512, Kolkata – 700 001, West Bengal

Tel. No.:

91-33-40232323

 

 

Country :

India

 

 

Financials (as on) :

30.06.2014

 

 

Date of Incorporation :

10.04.1995

 

 

Com. Reg. No.:

21-071063

 

 

Capital Investment / Paid-up Capital :

Rs.207.096 Million

 

 

CIN No.:

[Company Identification No.]

U27109WB1995PLC071063

 

 

IEC No.:

0204021421

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CALC04207A

 

 

PAN No.:

[Permanent Account No.]

AACCC1876D

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

Manufacturing, Exporter and Importer and Marketing of Steel Billets and Sponge Iron.

 

 

No. of Employees :

400 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (42)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 9100000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Exist

 

 

Comments :

Subject is an established company incorporated during the year 1995. It is the manufacturer, exporter and importer and marketing of steel Billets and sponge iron. It has a satisfactory track record.

 

For the financial year 2014, the company has shown a downtrend in its operational activity and incurred losses in the current year, where the management has maintained its upstanding sales turnover i.e. around Rs.14264.000 Million.

 

Further, the company has strong financial base and decent net worth position along with favorable gap between trade payables and receivables. In the view of strong financial position and efficient sales turnover in future company is feasible to earn profit.

 

Trade relations are fair. Business is active. Payment terms are slow but correct.

 

In view of strong 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.

 

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 Rating = BBB (Suspended)

Rating Explanation

Moderate degree of safety and moderate credit risk.

Date

11.09.2014

 

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. Anil Kumar Jain

Designation :

Director

Contact No.:

91-33-40232323

 

LOCATIONS

 

Registered Office :

21, Hemant Basu Sarani, 5th Floor, Room Nos.511 and 512, Kolkata – 700 001, West Bengal, India

Tel. No.:

91-33-22130481-87

Fax No.:

91-33-22130488

E-Mail :

contact.concast@gmail.com

sanjay@concastispat.com

Website:

http://www.concastispat.com

 

 

Factory :

Mouza Mosliya, Junebedia, Bankura, Kolkata-722102, West Bengal, India

 

 

DIRECTORS

 

AS ON 28.03.2015

 

Name :

Mr. Sanjay Kumar Sureka

Designation :

Director

Address :

28/1, Shakespeare Sarani, Kolkata - 700017, West Bengal, India

Date of Birth/Age :

22.01.1971

Qualification :

B. Com

Date of Appointment :

30.09.2011

Election Commission Identity Card No.:

WB-23-146-069180

DIN No.:

00218025

 

 

Name :

Mr. Anil Kumar Jain

Designation :

Additional director

Address :

18, Pannalal Basak Lane, Liluah, Howrah - 711204, West Bengal, India

Date of Appointment :

25.08.2014

DIN No.:

00428426

 

 

Name :

Mr. Anil Kumar Kedia

Designation :

Additional director

Address :

4/5, 4th Floor, Singhi Bagan Lane, Kolkata - 700006, West Bengal, India

Date of Appointment :

01.12.2013

DIN No.:

01364304

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 28.03.2015

 

SHAREHOLDING DETAIL FILE ATTACHED

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 28.03.2015

 

Category

Percentage

Bodies corporate

93.84

Directors or relatives of Directors

5.98

Other top fifty shareholders

0.18

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing, Exporter and Importer and Marketing of Steel Billets and Sponge Iron.

 

 

Products :

Products Description

Item Code No.

 

Iron and Steel

26011190

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • Nepal
  • Bangladesh

 

 

Imports :

 

Products :

Raw Material

Countries :

USA

 

 

Terms :

 

Selling :

Depend

 

 

Purchasing :

Depend

 

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

S N Mohanty, Orissa

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

 

 

Customers :

End users

 

Reference :

Global Trading Company

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 :

400 (Approximately)

 

 

Bankers :
  • State Bank of India (Lead Bank), Industrial Finance Branch, Kolkata, 11, Dr. U. N. Brahmachari Street, Kolkata - 700017, West Bengal, India
  • Kotak Mahindra Bank Limited, 36-38a, Nariman Bhavan, 227,D, Nariman Point,, Mumbai - 400021, Maharashtra, India
  • UCO Bank, Flagship Corporate Branch, 2, India Exchange Place, Kolkata - 700001, West Bengal, India

 

Banker Name

United Bank of India

Branch Address

Old Court House Street Branch,

11, Hemanta Basu Sarani, Kolkata - 700001, West Bengal, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

(Rs. In Million)

SECURED LOAN

As on

30.06.2014

(15 Months)

As on

31.03.2013

(12 Months)

LONG TERM BORROWING

 

 

Rupee term loans from banks

1214.246

359.296

Other loans and advances

1.443

0.000

Working capital loans from banks

0.000

11.025

SHORT TERM BORROWING

 

 

Working capital loans from banks

3515.219

2387.925

Loans taken for fixed assets

0.847

0.444

Total

4731.755

2758.690

 

Auditors :

 

Name :

M. Jain and Associates

Chartered Accountants

Address :

Mercantile Building, 9/12, Lal Bazar Street, Block - B, 4th Floor, Kolkata – 700 001, West Bengal, India

PAN No.:

AAGFM9405R

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates:
  • Concast Ispat Limited, India [U27101WB1941PLC010497]
  • Dankuni Steels Limited, India U27109WB1995PLC067953]
  • Concast Exim Limited, India [U51101WB2009PLC132009]
  • Concast Steel and Power Limited, India [U51909WB1995PLC072045]
  • Concast Global Limited, India [U27106WB1996PLC076334]
  • Concast Infratech Limited, India [U45400WB2010PLC153282]
  • Concast Ambha Road Projects Private Limited, India [U45400WB2011PTC171198]
  • Concast Damoh Road Project Private Limited, India [U45400WB2011PTC170236]
  • Concast Dhaneta Road Projects Private Limited, India [U45203WB2011PTC170728]
  • Concast Vyapaar Limited, India [U51909WB2006PLC111597]
  • Sureka Exports Limited, India [U51909WB1978PLC031558]

 

 

CAPITAL STRUCTURE

 

AS ON 28.03.2015

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

22500000

Equity Shares

Rs.10/- each

Rs. 225.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

22221575

Equity Shares

Rs.10/- each

Rs. 222.216 Million

 

 

 

 

 

AS ON 30.06.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

21000000

Equity Shares

Rs.10/- each

Rs. 210.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

20709575

Equity Shares

Rs.10/- each

Rs. 207.096 Million

 

 

 

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

30.06.2014

(15 Months)

31.03.2013

(12 Months)

31.03.2012

(12 Months)

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

207.096

191.267

163.511

(b) Reserves & Surplus

2992.667

3139.697

2447.976

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

255.900

0.000

Total Shareholders’ Funds (1) + (2)

3199.763

3586.864

2611.487

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

1215.689

370.321

1069.813

(b) Deferred tax liabilities (Net)

235.803

161.233

101.109

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

1.695

1.457

1.205

Total Non-current Liabilities (3)

1453.187

533.011

1172.127

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

3516.066

2788.369

2793.844

(b) Trade payables

1837.336

1287.368

704.416

(c) Other current liabilities

602.573

317.828

35.295

(d) Short-term provisions

68.000

235.829

167.648

Total Current Liabilities (4)

6023.975

4629.394

3701.203

 

 

 

 

TOTAL

10676.925

8749.269

7484.817

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

2849.110

2371.433

2038.015

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

435.349

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

9.000

9.000

9.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

1114.941

2.599

1.887

(e) Other Non-current assets

78.393

43.238

0.279

Total Non-Current Assets

4051.444

2426.270

2484.530

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

13.213

7.213

10.481

(b) Inventories

2764.984

2781.298

2173.481

(c) Trade receivables

3029.569

2456.389

1855.016

(d) Cash and cash equivalents

358.813

225.791

126.632

(e) Short-term loans and advances

458.902

852.308

834.677

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

6625.481

6322.999

5000.287

 

 

 

 

TOTAL

10676.925

8749.269

7484.817

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

30.06.2014

(15 Months)

31.03.2013

(12 Months)

31.03.2012

(12 Months)

 

SALES

 

 

 

 

Income

14230.562

9753.608

7396.036

 

Other Income

33.515

17.299

16.772

 

TOTAL (A)

14264.077

9770.907

7412.808

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

13078.015

8503.953

6507.378

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

18.404

(179.047)

(311.546)

 

Employees benefits expense

105.269

47.566

40.939

 

Other expenses

522.528

372.566

347.825

 

TOTAL (B)

13724.216

8745.038

6584.596

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (C)

539.861

1025.869

828.212

 

 

 

 

 

Less

FINANCIAL EXPENSES (D)

768.574

559.452

426.618

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)

(228.713)

466.417

401.594

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION (F)

150.997

102.696

82.493

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)   (G)

(379.710)

363.721

319.101

 

 

 

 

 

Less

TAX (H)

28.490

88.344

114.280

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)   (I)

(408.200)

275.377

204.821

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

894.723

619.346

414.525

 

 

 

 

 

 

Balance Carried to the B/S

486.523

894.723

619.346

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

Export Earnings

723.832

3099.500

2464.630

 

TOTAL EARNINGS

723.832

3099.500

2464.630

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

NA

NA

1.254

 

TOTAL IMPORTS

NA

NA

1.254

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

(20.94)

16.72

13.27

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

30.06.2014

(15 Months)

31.03.2013

(12 Months)

31.03.2012

(12 Months)

Current Maturities of Long term debt

526.385

287.600

NA

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

(228.713)

356.539

(748.162)

 

 

KEY RATIOS

 

PARTICULARS

 

 

30.06.2014

(15 Months)

31.03.2013

(12 Months)

31.03.2012

(12 Months)

Net Profit Margin

(PAT / Sales)

(%)

(2.87)

2.82

2.77

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

3.79

10.52

11.20

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(3.56)

4.16

4.53

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.12)

0.10

0.12

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.64

0.96

1.48

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.10

1.37

1.35

 

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

30.06.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

163.511

191.267

207.096

Reserves & Surplus

2447.976

3139.697

2992.667

Money received against share warrants

0.000

0.000

0.000

 Share Application money pending allotment

0.000

255.900

0.000

Net worth

2611.487

3586.864

3199.763

 

 

 

 

long-term borrowings

1069.813

370.321

1215.689

Short term borrowings

2793.844

2788.369

3516.066

Total borrowings

3863.657

3158.690

4731.755

Debt/Equity ratio

1.479

0.881

1.479

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

30.06.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

7396.036

9753.608

14230.562

 

 

31.876

45.900

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

30.06.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

7396.036

9753.608

14230.562

Profit

204.821

275.377

(408.200)

 

2.77%

2.82%

(2.87%)

 

 

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

Yes

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

Yes

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

Yes

32

Litigations that the firm/promoter involved in

Yes

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

 

LITIGATION DETAILS

 

High Court of Calcutta - Original Side

Case Status Information System

Case Status :

Pending

Status Of :

COMPANY PETITIONS (CP)  316  Of  2015

Litigants :

RE: RABIN SINGHA HEAVY EARTH MOVERS CO.  Vs.  CONCAST BENGAL INDUSTRIES LTD,

Pet's Adv :

DEY & ASSOCIATES

Res's Adv :

Last Date of Hearing :

Tuesday, June 16, 2015

Next / Final Date of Hearing :

Monday, August 03, 2015

Case Updated On :

Friday, July 31, 2015

Category :

---

 

 

UNSECURED LOAN

 

Particulars

As on

30.06.2014

(15 Month)

As on

31.03.2013

(12 Month)

SHORT TERM BORROWING

 

 

Working capital loans from banks

0.000

400.000

Total

0.000

400.000

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10448615

16/09/2013

1,000,000,000.00

IFCI LIMITED

IFCI TOWER, 61, NEHRU PLACE, NEW DELHI, DELHI - 1
10019, INDIA

B84808179

2

10452188

11/09/2013

620,000,000.00

UNITED BANK OF INDIA

OLD COURT HOUSE STREET BRANCH,, 11, HEMANTA BASU
SARANI,, KOLKATA, WEST BENGAL - 700001, INDIA

B86294410

3

10442779

16/08/2013

400,000,000.00

UCO BANK

FLAGSHIP CORPORATE BRANCH, 3, NETAJI SUBHAS ROAD,
, KOLKATA, WEST BENGAL - 700001, INDIA

B81973661

4

10432136

10/06/2013

82,100,000.00

STATE BANK OF INDIA

INDUSTRIAL FINANCE BRANCH, KOLKATA, 11, DR. U. N.
BRAHMACHARI STREET, KOLKATA, WEST BENGAL - 700017
, INDIA

B77535391

5

10417704

29/03/2014 *

890,000,000.00

CANARA BANK

CANARA BANK, BELLS HOUSE, 21, CAMAC STREET, GROUN
D FLOOR, KOLKATA, WEST BENGAL - 700016, INDIA

C02530145

6

10378371

21/09/2012

500,000,000.00

STATE BANK OF INDIA

INDUSTRIAL FINANCE BRANCH, KOLKATA, 11, DR. U. N.
BRAHMACHARI STREET, KOLKATA, WEST BENGAL - 700017
, INDIA

B58874223

7

10358516

16/01/2015 *

5,962,500,000.00

UCO BANK

FLAGSHIP CORPORATE BRANCH, 2, INDIA EXCHANGE PLAC
E,, KOLKATA, WEST BENGAL - 700001, INDIA

C42410647

8

10298281

31/03/2014 *

550,000,000.00

STATE BANK OF TRAVANCORE

STATE BANK OF TRAVANCORE, 36, JAWAHARLAL NEHRU RO
AD, KOLKATA, WEST BENGAL - 700071, INDIA

C02927531

9

10293180

02/06/2011

300,000,000.00

LAKSHMI VILAS BANK LIMITED

3, RED CROSS PLACE, KOLKATA, WEST BENGAL - 700001,
INDIA

B15335656

10

10232657

07/08/2010

1,621,000,000.00

STATE BANK OF INDIA (LEAD BANK)

INDUSTRIAL FINANCE BRANCH, 11, DR. U. N. BRAHMACH
ARI STREET, KOLKATA, WEST BENGAL - 700017, INDIA

A91514331

 

* Date of charge modification

 

CONTINGENT LIABILITY NOT PROVIDED IN RESPECT OF :

 

PARTICULARS

30.06.2014

(15 Months)

 

 

Corporate Guarantee

582.100

Bank Guarantee

103.400

 

 

FIXED ASSETS

 

Tangible assets

 

 

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.66.18

UK Pound

1

Rs.100.46

Euro

1

Rs.74.60

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

SUD

 

 

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

2

--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

YES

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

42

 

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.