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MIRA INFORM REPORT
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Report No. : |
503888 |
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Report Date : |
21.04.2018 |
IDENTIFICATION DETAILS
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Name : |
STERLING AND WILSON PRIVATE LIMITED (w.e.f. 07.11.2014) |
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Formerly Known
As : |
STERLING AND WILSON LIMITED (w.e.f. 08.09.2009) STERLING AND WILSON PRIVATE LIMITED (w.e.f. 27.06.2007) STERLING AND WILSONS ELECTRICALS PRIVATE LIMITED |
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Registered
Office : |
9th Floor, Universal Magestic, P.L. Lokhande Marg, Chembur,
Mumbai-400043, Maharashtra |
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Tel. No.: |
91-22-25485300 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
13.06.1974 |
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Com. Reg. No.: |
11-017538 |
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Capital
Investment / Paid-up Capital : |
INR 160.360 Million |
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CIN No.: [Company Identification
No.] |
U31200MH1974PTC017538 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACS9939D |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is specialised in complete turn-key solutions, offering
a large spectrum of services like Electrical Contracting, heat ventilation
and air-conditioning systems, Public health and Safety, LV systems, EPC
contracting, Solar EPC and Data Centre solutions with having experience of
executing more than 3,000 projects. [Registered Activity] |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Maximum Credit Limit : |
USD 9411000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was established in the year 1974 and it is a subsidiary of “Shapoorji Pallonji and Company Private Limited”. The company is involved in EPC business and provides complete mechanical, electrical and plumbing (MEP) services. For the financial year 2017, the company has achieved decent growth in its revenue as compared to its previous year and maintained average profitability margin. Rating takes into consideration, the sound financial profile of the company marked by healthy net worth base along with low debt structure. Rating continues to derive strength from its long and established track record of its business operation backed by its well-experienced management team and strong financial support from its holding entity. Trade relations are reported as fair. Business is active. Payments are seems to be regular. In view of aforesaid, the company can be considered good 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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
ICRA |
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Rating |
Long Term Ratings = A+ |
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Rating Explanation |
Adequate degree of safety and low credit risk |
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Date |
20.03.2018 |
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Rating Agency Name |
ICRA |
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Rating |
Short Term Ratings = A1+ |
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Rating Explanation |
Very strong degree of safety and carry lowest credit risk |
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Date |
20.03.2018 |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 21.04.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DECLINED
MANAGEMENT NON-CO-OPERATIVE [91-22-25485300]
LOCATIONS
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Registered/ Head Office : |
9th Floor, Universal Magestic, P.L. Lokhande Marg, Chembur,
Mumbai-400043, Maharashtra, India |
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Tel. No.: |
91-22-25485300 |
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Fax No.: |
91-22-25485331 |
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E-Mail : |
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Website : |
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Factory : |
Sterling Generators Private Limited, 59, 343/1, Village
Kala, Kherdi |
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Branch Offices: |
Located at: · Ahmedabad · Chennai · Bangalore · Cochin · Goa · Guwahati · Hyderabad · Jaipur · Kolkata · Noida · Pune · Delhi · Vadodara · Vijaywada |
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International
Presence |
Located at: · Australia · Dubai · Egypt · Kenya · Philippines · Qatar · Saudi Arabia · South Africa · Thailand · USA |
DIRECTORS
AS ON: 31.03.2017
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Name : |
Mr. Zarine Yazdi Daruvala |
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Designation : |
Managing Director |
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Address : |
613, Dinshaw Mody Building, Jame Jamsed Road, Parsi Colony, Dadar, Mumbai-400014, Maharashtra, India |
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Date of Birth/Age : |
17.12.1944 |
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Qualification : |
B.Com |
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Date of Appointment : |
06.03.1980 |
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PAN No.: |
AECPD6525K |
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DIN No.: |
00190585 |
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Other Directorship:
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Name : |
Mr. Khurshed Yazdi Daruvala |
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Designation : |
Whole-Time Director |
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Address : |
613, Dinshaw Mody Building, Jame Jamsed Road, Parsi Colony, Dadar, Mumbai-400014, Maharashtra, India |
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Date of Birth/Age : |
22.03.1969 |
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Qualification : |
Chartered Accountant |
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Date of Appointment : |
01.09.1993 |
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PAN No.: |
AACPD7565R |
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DIN No.: |
00216905 |
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Other Directorship:
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Name : |
Mr. Pallon Shapoor Mistry |
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Designation : |
Director |
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Address : |
Sterling Bay 103, Walkeshwar Road, Mumbai-400006, Maharashtra, India |
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Date of Birth/Age : |
12.03.1992 |
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Qualification : |
Graduate |
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Date of Appointment : |
06.10.2015 |
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PAN No.: |
APAPM0084M |
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DIN No.: |
05229734 |
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Other Directorship:
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KEY EXECUTIVES
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Name : |
Mr. Kalpathy Hariharan Parameswaran |
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Designation : |
Company Secretary |
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Address : |
Flat No.6, Forward House No. 1, Wadala (West), Mumbai-400031, Maharashtra, India |
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Date of Birth/Age : |
26.01.1952 |
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Date of Appointment : |
28.02.2008 |
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PAN No.: |
AAAPH9627C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.03.2017
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Names of Equity Shareholders |
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No. of Shares |
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Shapoorji Pallonji and Co. Limited, India |
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10546667 |
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Pallonji S. Mistry |
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144000 |
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Khurshed Y. Daruvala |
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5345293 |
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Pervin Zarir Madan Jointly With Khurshed Y.Daruvala |
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10 |
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Kainaz K.Daruvala Jointly With Khurshed Y.Daruvala |
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20 |
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Zarine Y.Daruvala |
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10 |
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Total |
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16036000 |
AS ON: 28.09.2017
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Equity Share Breakup |
Percentage of Holding |
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Category |
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Promoters – Individual/ Hindu Undivided Family – Indian |
34.22 |
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Promoters – Body Corporate |
65.77 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is specialised in complete turn-key solutions,
offering a large spectrum of services like Electrical Contracting, heat ventilation
and air-conditioning systems, Public health and Safety, LV systems, EPC
contracting, Solar EPC and Data Centre solutions with having experience of
executing more than 3,000 projects. [Registered Activity] |
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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 : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
Union Bank of India |
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Facilities : |
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Financial Institution : |
Axis Trustee Services Limited |
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Auditors : |
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Name : |
B S R & Company LLP Chartered Accountants |
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Address : |
5Th Floor, Lodha Excelus, Apollo Mills Compound, N M Joshi Marg, Mahalaxmi, Maharashtra, India |
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PAN No.: |
AAFFH6834G |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company: |
Shapoorji Pallonji and Company Private Limited
[U45200MH1943PTC003812] |
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Subsidiaries,
direct and indirect holding : |
· Sterling and Wilson International FZE · Range Consultants Private Limited · Sterling and Wilson Security Systems Private Limited · Sterling and Wilson (Thailand) Ltd. (from 24 April 2015) · Sterling and Wilson Middle East Electromechanical LLC, Dubai · Sterling and Wilson Singapore Pte Ltd. · Sterling and Wilson Engineering (Pty) Ltd. · Sterling and Wilson Middle East W.L.L. · Sterling & Wilson Middle East Sanitation, Electrical, Cooling & Conditioning · Contracting Ltd. Liability Company - Kuwait · Sterling & Wilson Management Consultants Bahrain WLL · Sterling and Wilson Kazakhstan LLP · Sterling and Wilson Waaree Private Limited (w.e.f. 16 December 2016) · Sterling and Wilson Cogen Solutions AG (w.e.f. 28 July 2016) · Sterling and Wilson Royal Power Solutions Ltd. (w.e.f. 05 March 2015) · Sterling and Wilson Saudi Arabia Ltd. (w.e.f. 14 December 2016) · Sterling and Wilson Power Solutions Inc. (w.e.f. 10 March 2016) · Sterling & Wilson Nigeria Ltd. (w.e.f. 5 April 2015) |
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Fellow Subsidiaries
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· Abhipreet Trading Private Limited · Acreage Farm Private Limited · Afcons Construction Mideast LLC · Afcons Corrosion Protection Private Limited · Afcons Gulf International Project Services FZE · Afcons Gunanusa Joint Venture · Afcons Infra projects Kazakistan LLP · Afcons Infrastructure Kuwait for Building, Road and Marine Contracting WLL · Afcons Infrastructure Limited. · Afcons Mauritius Infrastructure Limited. · Afcons Offshore and Marine Services Private Limited · Afcons Overseas Construction LLC · Afcons Overseas Project Gabon SARL (w.e.f. 27 October 2015) · Afcons Overseas Singapore Pte Limited. · Afcons Saudi Construction LLC (w.e.f. 6 September 2015) · Alaya Properties Private Limited · Aquadiagnostics Water Research & Technology Centre Limited. · Aquamall Water Solutions Limited. · Archaic Properties Private Limited · Arena Stud Farm Private Limited · Armada Madura EPC Limited (w.e.f. 14 May 2015) · Arina Solar Private Limited (w.e.f. 15 February 2017) · Arme Investment Company Limited (w.e.f. 28 June 2016) · Aurinko Energy Private Limited (w.e.f. 23 January 2017) · Balgad Power Company Private Limited (w.e.f. 1 December 2015) · Belva Farms Private Limited · Bengal Shapoorji Infrastructure Development Private Limited · Blue Riband Properties Private Limited · EFL Mauritius Limited. · Empower Builder Private Limited · ESPI Holdings Mauritius Limited. · Eureka Forbes Limited. · Euro Forbes Financial Services Limited. · Euro Forbes Limited. Dubai · Fayland Estates Private Limited · Filippa Farms Private Limited · Fine Energy Solar Private Limited (w.e.f. 02 August 2016) · Flamboyant Developers Private Limited · Flooraise Developers Private Limited · Floral Finance Private Limited · Floreat Investments Limited · Flotilla Finance Private Limited · Forbes & Company Limited · Forbes Campbell Finance Limited · Forbes Campbell Services Limited · Forbes Container Lines Pte Limited · Forbes Edumetry Limited · Forbes Enviro Solutions Limited · Forbes Facility Services Private Limited · Forbes International AG · Forbes Lux FZCO · Forbes Lux International AG · Forbes Technosys Limited · Forbesline Shipping Services LLC · Forvol International Service Limited · Gallops Developers Private Limited · Global Bulk Minerals FZE ("GBM") (w.e.f.04 September 2016) · Global Energy S.L. Limited (w.e.f. 11 February 2016) · Global Energy Ventures Mauritius. · Global Resource and Logistics Pte. Limited · Gokak Power & Energy Limited · Gokak Textiles Limited · Gossip Properties Private Limited · GRL Mozambique S A · Hazarat & Co Private Limited · Hermes Commerce Limited · High Point Properties Private Limited · Instant Karma Properties Private Limited · Jaykali Developers Private Limited · Kamal Power Limited (Tanzania) (w.e.f. 02 March 2016) · Khvafar Investments Private Limited · Khvafar Property Developers Private Limited · Leader Shipyard Private Limited · LIAG Trading and Investments Limited · Lucrative Properties Private Limited · Lux (Deutschland) GmbH · Lux /SK/s.r.o. · Lux Aqua Czech s.r.o. (w.e.f. 06 May 2016) · Lux Aqua Hungaria Kft (w.e.f. 27 November 2015) · Lux Aqua Paraguay SA (w.e.f. 01 December 2016) · Lux CZ s.r.o. · Lux del Paraguay S.A. · Lux Hungária Kereskedelmi Kft. · Lux Norge A/S · Lux Oesterreich GmbH · Lux Osterreich Professional GmbH, Austria (w.e.f. 30 December 2016) · Lux Professional GmbH, Germany (w.e.f. 22 December 2016) · Lux Professional International GmbH · Lux Schweiz AG · Lux Service GmbH · Lux Waterline GmbH (w.e.f. 24 June 2016) · Lux Interantional AG · Lux Italia srl · Magpie Finance Private. Limited · Make Home Realty & Construction Private Limited · Malabar Trustee Co. Limited · Manjri Developers Private Limited · Manjri Horse Breeders Farm Private Limited · Manor Stud Farm Private Limited · Mazsons Builders & Developers Private Limited · Meriland Estates Private Limited · Mileage Properties Private Limited · Musamdam Rock LLC (w.e.f.14 December 2016) · Neil Properties Private. Limited · Next Gen Publishing Limited · Nuevo Consultancy Services Limited · Nursery Projects and Agri Development Private Limited · Nutan Bidyut (Bangladesh) Limited (w.e.f. 27 March 2016) · Palchin Real Estates Private Limited · Phenomenon Developers Private Limited · PNP Maritime Services Private Limited (w.e.f. 28 April 2015) · Precaution Properties Private Limited · PT. Nusantara Global Resources. · Radiance Solar Private Limited(w.e.f. 3 July 2015) · Radiant Energy Systems Private Limited (Merged into Forbes Enviro Solution Limited w.e.f. 21 August 2015) · Relationship Properties Private Limited · Renaissance Commerce Private Limited · Ricardo Construction Private Limited · S C Motors Private Limited · S P Global Operations Limited · S P Kam Synthetics Private Limited (w.e.f. 27 October 2015) · S. C. Impex Private Limited · Sabeena Properties Private Limited (formerly Afcons (Overseas) Constructions and · Investments Private Limited) · Sagar Premi Builders and Developers Private Limited · Samalpatti Power Co Private Limited · Saral SP Algeria · Shachin Real Estate Private Limited · Shapoorji AECOS Construction Private Limited · Shapoorji Data Processing Private Limited · Shapoorji Holding Limited (w.e.f. 01 April 2016) · Shapoorji Hotels Private Limited · Shapoorji Pallonji and Co KIPL JV (Partnership Firm) · Shapoorji Pallonji and Co KIPL Sewerage JV (Partnership Firm) (w.e.f. 11 August · 2016) · Shapoorji Pallonji Cement (Gujarat) Private Limited · Shapoorji Pallonji Defence and Marine Engineering Private Limited (Formerly SP · Engineering Establishment for Defence Private Limited) · Shapoorji Pallonji Infrastructure Capital Co Private Limited (w.e.f. 26 November · 2014) (formerly known as Shapoorji Pallonji Infrastructure Capital Co Limited) · Shapoorji Pallonji Energy (Gujarat) Private Limited · Shapoorji Pallonji Energy Company INC (w.e.f. 11 May 2016) · Shapoorji Pallonji Finance Private Limited (Formerly Shapoorji Pallonji Finance Limited) · Shapoorji Pallonji Forbes Shipping Limited · Shapoorji Pallonji General Trading For Construction Company WLL · Shapoorji Pallonji Ghana Limited · Shapoorji Pallonji Infrastructure (Gujarat) Private Limited · Shapoorji Pallonji Infrastructure Capital Co Private Limited · Shapoorji Pallonji International, Dafza. UAE · Shapoorji Pallonji International, Fujairah. UAE · Shapoorji Pallonji Investment Advisors Private Limited · Shapoorji Pallonji Kazakhstan LLC · Shapoorji Pallonji Lanka Private Limited · Shapoorji Pallonji Libya JSC. Libya · Shapoorji Pallonji Malta Limited (w.e.f. 08 February 2016) · Shapoorji Pallonji Mid East LLC · Shapoorji Pallonji Nigeria Limited · Shapoorji Pallonji Oil and Gas International FZE (w.e.f. 17 December 2015) · Shapoorji Pallonji Oil and Gas Private Limited · Shapoorji Pallonji Ports Private Limited · Shapoorji Pallonji Power Company Limited · Shapoorji Pallonji Projects Private Limited · Shapoorji Pallonji Qatar WLL · Shapoorji Pallonji Renewables Private Limited (w.e.f. 24 October 2016) · Shapoorji Pallonji Roads Private Limited · Shapoorji Pallonji Rural Solutions Private Limited · Shapoorji Pallonji Solar Holdings Private Limited (formerly known as Praddin Energy Private Limited) · Shapoorji Pallonji Solar PV Private Limited · Shapoorji Pallonji Transportation Projects Private Limited (w.e.f. 29 December 2016) · Sharus Building Services India Private Limited (Merged into Sharus Steels Products Private Limited) · Sharus Steels Products Private Limited · Simar Port Private Limited · Solar Edge Power and Energy Private Limited (w.e.f. 29 June 2015) · SP Advanced Engineering Materials Private Limited · SP Agri Management Services P Limited · SP Aluminium System Private Limited · SP Architectural Coatings Private Limited · SP Bio Science Private Limited · SP Biofuel Ventures Private Limited · SP Consulting Services DMCC UAE · SP Energy (Egypt) S.A.E. · SP Energy Venture AG (w.e.f.30 January 2017) · SP Engineering Services Pte. Limited · SP Fabricators Private Limited · SP Imperial Star Private Limited(w.e.f. 22 August 2016) (up to 25 March 2017) · SP Infocity Developers Private Limited · SP International Property Developer LLC · SP International, Cayman Island · SP Jammu Udhampur Highway Private Limited · SP Nano Products Private Limited · SP Oil Exploration Private. Limited · SP Photovoltaic Private Limited (w.e.f. 1 July 2015) · SP Port Maintenance Private Limited(w.e.f.22 August 2016) (up to 25 March 2017) · SP Ports Private Limited · SP Properties Holding Limited · SP Solren Private Limited (w.e.f. 8 May 2015) · SP Trading (Partnership Firm) (w.e.f. 1 October 2015) · SPCL Holdings Pte Limited · Steppe Developers Private Limited · Sterling & Wilson Australia Pty Limited (w.e.f. 18 June 2015) · Sterling & Wilson Power Solutions LLC (w.e.f. 5 April 2015) · Sterling & Wilson Powergen LLC (w.e.f. 5 April 2015) · Sterling and Wilson Powergen Private Limited · Surya Power One Private Limited (w.e.f. 02 August 2016) · Suryoday Energy Private Limited (w.e.f. 19 July 2015) · TN Solar Power Energy Private Limited · Transform Sun Energy Private Limited (w.e.f. 30 June 2015) · Transtonnelstroy Afcons Joint Venture · United Motors (India) Private Limited · Universal Mine Developers and Service Providers Private Limited · Universal Projects & Resources (Netherlands) B.V. (w.e.f. 14 March 2016) · Volkart Fleming Shipping & Services Limited · West Coast Liquid Terminal Private Limited (w.e.f. 26 May 2016) |
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Joint ventures : |
· Isolux Ingenieria S.A and Sterling & Wilson Limited Consortium · STC Power SRL (w.e.f 21 April 2016) · Co.Stell SRL (w.e.f. 21 April 2016) · P.T.C. S.a.s. di Barzanti Massimo (w.e.f 21 November 2017) · Sterling and Wilson Cogen Solutions LLC (w.e.f. 25 November 2015) · Sterling & Wilson-SPCL-Chint Moroccan Venture (w.e.f. 26 November 2016) · SWPL-SPCL Abu Dhabi Ventures (w.e.f. 8 February 2017) · SWPL-SPCL Zambia Ventures (w.e.f. 21 October 2016) |
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Entities over which key managerial person
or their relatives exercise control Transtel Systems Private Limited : |
· Delsys Infotech Private Limited · Fahudco · Sterling Viking Power Private Limited · Daric Consultancy FZC · Sterling and Wilson Energy Systems Private Limited |
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Entities over which Holding Company
exercise significant influence : |
· Afcons (Mideast) Constructions & Investments Private Limited · Afcons Pauling Joint Venture · AFCONS Sener LNG Construction Projects Private Limited · Afcons-Sibmost Joint Venture (w.e.f. 03 August 2016) · Afcons-Vijeta -PES Joint Venture (w.e.f.27 May 2016) · AMC Cookware PTE Limited · Aqualgnis Technologies Private Limited · Armada 98/2 Pte. Limited (w.e.f. 15 March 2017) · Armada C7 Pte Limited(Singapore) · Armada D1 Pte Limited(Singapore) · Armada Madura EPC Limited (w.e.f. 14 May 2015) · Awesome Properties Private Limited · Behold Space Developers Private Limited · Bengal Shapoorji Housing Development Private Limited · Bharat Renewable Energy P Limited · Bigsearch Properties Private Limited · Blessing Properties Private Limited · Blue Stone Middle East Limited |
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Entities over which Holding Company
exercise significant influence : |
· BNV Gujarat Rail Private Limited (w.e.f. 19 December 2016) · Cyrus Chemicals Private Limited · Dream Chalet Private Limited · Forbes Aquatech Limited · Forbes Concept Hospitality Services Private Limited · Forbes Bumi Armada Limited · Forbes Bumi Armada Offshore Limited · Forbes G4S Solutions Private Limited · Grand View Estates Private Limited · Heart Beat Properties Private Limited · G. S. Enterprises (Partnership Firm) · HPCL Shapoorji Energy Limited · Image Realty LLP · Infinite Water Solutions Private Limited · Insight Properties Private Limited · Ircon Afcons Joint venture · Jess Realty Private Limited (w.e.f. June 26,2015) · Joyous Housing Limited · Joyville Shapoorji Housing Private Limited (formerly known as Drashti · Developers Private Limited) (w.e.f. 15 October 2015) · Larsen & Toubro Limited Shapoorji Pallonji & Co Limited Joint Venture · Meridian Enterprise (Joint venture) · Minean SP Construction Corporation · Mirth Property Developers Private Limited · Natural Oil Ventures Co Limited · Newtech Planners & Consultancy Services Private Limited w.e.f. 28 April 2015) · P T Gokak Indonesia · P.T.C. S.a.s. di Barzanti Massimo (w.e.f. 21 November 2016) · Redstone Films Private Limited · Rock Spaces Private Limited · S D Suburban Development Private Limited (w.e.f. 31 March 2016) · S. D. Corporation Private Limited · S. D. New Samata Nagar Development Private Limited · S. D. Recreational Services Private Limited · S. D. Service Management Private Limited · S. D. SVP Nagar Redevelopment Private Limited · S. D. Town Development Private Limited · S.D. Imperial Property Maintenance Private Limited · Saipem Afcons Joint Venture · Sandor Proteomics Private Limited (upto 15 December 2015) · SD Palm Lands Redevelopment Private Limited · SD Powai Redevelopment Private Limited · SDC Infrastructure Private Limited · SDC Mines Private Limited · SDC Township Private Limited · Satori Property Developers Private Limited · Seaward Realty Private Limited · Shapoorji Pallonji and OEG Services Private Limited · Shapoorji Pallonji Bumi Armada Godavari Private Limited (w.e.f.19 July 2016) · Solar Capital De Aar 3 (RF)Proprietary Limited · SP Armada Offshore Private Limited · SP Armada Oil Exploration Private Limited · SP Trading (Partnership Firm) (upto 30 September 2015) · SP Imperial Star Private Limited (w.e.f. 26 July 2017) · Space Square Developers Private Limited · Sterling Motors (Partnership Firm) · Sunny Recreational Property Developers Private Limited · Strabag Afcons Joint Venture · Turner Films Private Limited · Zhanakorgan Energy LLP |
CAPITAL STRUCTURE
AFTER: 28.09.2017
Authorised Capital: INR 2700.000 Million
Issued, Subscribed & Paid-up Capital: INR 2660.360
Million
AS ON: 31.03.2017
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18000000 |
Equity Shares |
INR 10/- each |
INR 180.000 Million |
|
500000 |
Preference Shares |
INR 1000/- each |
INR 500.000 Million |
|
|
|
|
|
|
|
Total |
|
INR 680.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16036000 |
Equity Shares |
INR 10/- each |
INR 160.360
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
160.360 |
160.360 |
660.360 |
|
(b) Reserves & Surplus |
3133.577 |
2675.334 |
2191.841 |
|
(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) |
3293.937 |
2835.694 |
2852.201 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
444.153 |
1000.000 |
|
(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 |
186.288 |
128.296 |
281.403 |
|
Total
Non-current Liabilities (3) |
186.288 |
572.449 |
1281.403 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
6899.289 |
0.592 |
2109.618 |
|
(b)
Trade payables |
13362.592 |
11743.856 |
6289.307 |
|
(c)
Other current liabilities |
646.825 |
344.397 |
2621.216 |
|
(d)
Short-term provisions |
7479.980 |
6348.058 |
155.378 |
|
Total
Current Liabilities (4) |
28388.686 |
18436.903 |
11175.519 |
|
|
|
|
|
|
TOTAL |
31868.911 |
21845.046 |
15309.123 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1500.281 |
375.578 |
389.569 |
|
(ii)
Intangible Assets |
2.182 |
0.000 |
24.588 |
|
(iii)
Capital work-in-progress |
61.742 |
47.074 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
630.475 |
562.893 |
60.970 |
|
(c) Deferred tax assets
(net) |
319.647 |
271.772 |
128.585 |
|
(d) Long-term Loan
and Advances |
160.494 |
143.061 |
707.337 |
|
(e)
Other Non-current assets |
446.226 |
590.911 |
8.804 |
|
Total
Non-Current Assets |
3121.047 |
1991.289 |
1319.853 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
4.815 |
306.871 |
0.159 |
|
(b)
Inventories |
545.947 |
376.843 |
518.788 |
|
(c)
Trade receivables |
17626.467 |
11694.683 |
8790.869 |
|
(d)
Cash and cash equivalents |
866.802 |
1045.300 |
195.257 |
|
(e)
Short-term loans and advances |
2287.693 |
1469.577 |
1841.632 |
|
(f)
Other current assets |
7416.140 |
4960.483 |
2642.565 |
|
Total
Current Assets |
28747.864 |
19853.757 |
13989.270 |
|
|
|
|
|
|
TOTAL |
31868.911 |
21845.046 |
15309.123 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
35745.284 |
33006.539 |
18251.654 |
|
|
|
Other Income |
673.135 |
243.769 |
339.702 |
|
|
|
TOTAL |
36418.419 |
33250.308 |
18591.356 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
23990.536 |
23391.525 |
12157.713 |
|
|
|
Purchases of Stock-in-Trade |
0.000 |
9.561 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(314.720) |
(16.005) |
200.530 |
|
|
|
Employees benefits expense |
1966.580 |
1519.566 |
883.357 |
|
|
|
Other expenses |
9418.177 |
6551.327 |
4382.981 |
|
|
|
TOTAL |
35060.573 |
31455.974 |
17624.581 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1357.846 |
1794.334 |
966.775 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
429.254 |
398.007 |
475.070 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
928.592 |
1396.327 |
491.705 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
120.332 |
133.062 |
141.190 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
808.260 |
1263.265 |
350.515 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
291.594 |
468.098 |
(48.022) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
516.666 |
795.167 |
398.537 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (INR) |
32.22 |
47.04 |
21.66 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.000 |
1141.572 |
42.500 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
(3299.539) |
4496.827 |
893.886 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
(3543.781) |
4092.368 |
943.617 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
179.99 |
129.32 |
175.80 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
2.03 |
2.82 |
2.08 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
203.30 |
183.18 |
188.82 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
2.49 |
4.76 |
1.86 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.87 |
4.25 |
2.33 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.89 |
0.92 |
0.80 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
2.09 |
0.56 |
1.11 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
8.62 |
6.50 |
3.92 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.47 |
0.15 |
0.15 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
3.16 |
4.51 |
2.04 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
1.45 |
2.41 |
2.18 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.62 |
3.64 |
2.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
15.69 |
28.04 |
13.97 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.01 |
1.08 |
1.25 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.99 |
1.06 |
1.21 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.10 |
0.13 |
0.19 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
43.02 |
9.89 |
4.77 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.01 |
1.08 |
1.25 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
660.360 |
160.360 |
160.360 |
|
Reserves & Surplus |
2191.841 |
2675.334 |
3133.577 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2852.201 |
2835.694 |
3293.937 |
|
|
|
|
|
|
long-term borrowings |
1000.000 |
444.153 |
0.000 |
|
Short term borrowings |
2109.618 |
0.592 |
6899.289 |
|
Current Maturities of Long
term debt |
42.500 |
1141.572 |
0.000 |
|
Total
borrowings |
3152.118 |
1586.317 |
6899.289 |
|
Debt/Equity
ratio |
1.105 |
0.559 |
2.095 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
18251.654 |
33006.539 |
35745.284 |
|
|
|
80.841 |
8.298 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
18251.654 |
33006.539 |
35745.284 |
|
Profit/ (Loss) |
398.537 |
795.167 |
516.666 |
|
|
2.18% |
2.41% |
1.45% |
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 |
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 |
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 CHARGES
|
CHARGES REGISTERED |
||||||||
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C06690648 |
10503089 |
UNION BANK OF INDIA |
13/05/2014 |
- |
- |
1750000000.0 |
INDUSTRIAL FINANCE BRANCH,66/80, MUMBAI SAMACHAR MARG, FORT,MUMBAIMH400023IN |
|
2 |
B80378490 |
10438784 |
UNION BANK OF INDIA |
18/07/2013 |
- |
- |
1400000000.0 |
INDUSTRIAL FINANCE BRANCH,66/80, MUMBAI SAMACHAR MARG, FORT,MUMBAIMH400023IN |
|
3 |
B29752102 |
10329364 |
ICICI BANK LIMITED |
13/01/2012 |
- |
- |
700000000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
4 |
B30569313 |
10331805 |
AXIS BANK LIMITED |
15/12/2011 |
- |
- |
2000000000.0 |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLELAW GARDEN ELLISBRIDGEAHMEDABADGJ380006IN |
|
5 |
A77377786 |
10196418 |
STATE BANK OF INDIA |
14/01/2010 |
- |
- |
270000000.0 |
COMMERCIAL BRANCH (ADVANCES), NGN VAIDYA MARG,BANK STREET, HORNIMAN CIRCLE,MUMBAIMH400021IN |
|
6 |
A77559540 |
10197028 |
STATE BANK OF INDIA |
14/01/2010 |
- |
- |
270000000.0 |
COMMERCIAL BRANCH(ADVANCES), NGN VAIDYA MARG,BANK STREET, HORNIMAN CIRCLE,MUMBAIMH400021IN |
|
7 |
G34950436 |
10181814 |
AXIS TRUSTEE SERVICES LIMITED |
15/09/2009 |
29/12/2016 |
- |
73000000000.0 |
AXIS HOUSE, BOMBAY DYEING MILLSCOMPOUND, PANDHURANG BUDHKAR MARG, WORLIMUMBAIMA400025IN |
|
8 |
A64265051 |
10163478 |
ICICI BANK LIMITED |
24/06/2009 |
- |
- |
850000000.0 |
LANDMARKRACE COURCE CIRCLEALKAPURIBARODAGJ390015IN |
|
9 |
A61163002 |
10155213 |
UNION BANK OF INDIA |
04/04/2009 |
- |
- |
650000000.0 |
MUMBAI SAMACHAR MARG BRANCH,66/80, MUMBAI SAMACHAR MARG, FORT,MUMBAIMH400023IN |
|
10 |
A46813713 |
10124061 |
BARCLAYS BANK PLC |
18/09/2008 |
- |
- |
250000000.0 |
801/808, CEEJAY HOUSE, SHIVSAGAR ESTATE,DR. ANNIE BESANT ROAD, WORLI,MUMBAIMH400018IN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Term loans |
1500.000 |
0.000 |
|
Working capital loans from banks |
950.000 |
0.000 |
|
|
|
|
|
Total |
2450.000 |
0.000 |
BACKGROUND
Sterling and Wilson Private Limited (“the Company”) is one of India's leading Mechanical, Electricals and Plumbing and Fire-fighting services (collectively known as 'MEP services') company with a pan India presence and international operations in Middle East, South East Asia, Africa, Philippines, Thailand, Europe and USA
The Company is specialised in complete turn-key solutions, offering a large spectrum of services like Electrical Contracting, heat ventilation and air-conditioning systems, Public health and Safety, LV systems, EPC contracting, Solar EPC and Data Centre solutions with having experience of executing more than 3,000 projects.
The Company was established in 1927 as Wilson Electric Works. The Company was renamed as Sterling and Wilson Electricals Private Limited in 1974 and subsequently as Sterling and Wilson Private Limited in financial year 2007. The name has been changed to Sterling and Wilson Limited on 24 June 2009 and subsequently as Sterling and Wilson Private Limited on 7 November 2014.
Sterling
and Wilson Private Limited is a subsidiary of Shapoorji Pallonji and Company
Private Limited, effective from 17 April 2008.
OVERVIEW OF
PERFORMANCE
The Company’s march towards sustained growth continued during the year, with the turnover improving by 8 %over 2016.Theconscious policy adopted in MEP business, subscribing to profitability and credit terms, has enabled the division to improve its margins, with a lower capital employed. The Government’s thrust on increasing the share of renewable energy in the country’s generating capacity, has benefitted the Solar EPC business, which continued to contribute to the Company’s growth in an otherwise challenging environment. Their capabilities as a leading Solar EPC player in India, is gaining recognition in the international markets, with the Company bagging some of the prestigious orders in Africa and the Middle East.
The
consolidated turnover of the Company for the year was INR 5,0440.000 crores as
against INR 4,5020.000 million, during 2015-16, with a profit after tax of INR
86.500 million, against INR 775.700 million last year. The contribution of
subsidiaries / joint ventures to the turnover for the year was INR 14695.500
million in 2016-17 and INR 2014.700 million in 2015-16.
OUTLOOK FOR 2017-18
Though
the year witnessed a sluggish pace of growth in investment in industrial and
commercial projects, it is expected that private investments in projects with
MEP potential would gather momentum, with the Government kicking off
investments in basic infrastructure, rolling out of fiscal measures like GST
and availability of low cost credit.
Though the year witnessed a sluggish pace of growth in investment in industrial and commercial projects, it is expected that private investments in projects with MEP potential would gather momentum, with the Government kicking off investments in basic infrastructure, rolling out of fiscal measures like GST and availability of low cost credit.
With the mission to see ourselves as a leading player on the global stage in EPC for renewables, the Company plans to exploit the growing Renewable Energy market, by venturing into Bio / Wind Energy both in India and abroad and setting up of Solar Roof-top models for industry and others.
The Company has initiated the study for restructuring its businesses for consolidating its synergistic verticals, with a view to exploit the full potential of its capabilities including, managerial, engineering, administrative and financial that have been developed over the years to sustain growth with a healthy bottom line and to marginalize the impact of macro-economic factors in the domestic and international markets.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Claims against the company not acknowledged as debts |
|
|
|
Demands raised by Income tax authorities |
82.082 |
56.898 |
|
Demands raised by Sales tax authorities |
265.866 |
284.402 |
|
Demands raised by Service tax authorities |
17.716 |
17.716 |
|
Bank guarantees outstanding |
168.305 |
925.385 |
|
Letter of credit on behalf of subsidiaries |
12156.465 |
0.000 |
|
Corporate guarantees outstanding |
6158.289 |
0.000 |
FIXED ASSETS:
· Land
· Building
· Plant and equipment
· Furniture and Fixture
· Leasehold improvements
· Computer improvements
·
Vehicles
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
|
INR |
|
US Dollar |
1 |
INR 66.02 |
|
UK Pound |
1 |
INR 92.73 |
|
Euro |
1 |
INR 81.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
NSG |
|
|
|
|
Report Prepared
by : |
RUP |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.