|
|
|
MIRA INFORM REPORT
|
Report No. : |
490561 |
|
Report Date : |
08.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
SANSERA ENGINEERING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
261/C, Bommasandra Industrial Area, Hebbagodi Post, Anekal Taluk, Bangalore – 560099, Karnataka |
|
Tel. No.: |
91-80-27833056/ 27839304 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
15.12.1981 |
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|
|
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Com. Reg. No.: |
08-004542 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
INR 111.474 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34103KA1981PTC004542 |
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|
|
|
IEC No.: |
0794000649 |
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GSTIN/UIN: |
Not Available |
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|
|
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
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PAN No.: [Permanent Account No.] |
AAECS6759F |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Manufacturer of auto components such as rocker arms, connecting
rods, gear shifters, crank shafts, and aerospace components and also involved
in providing services such as forging and other related services. (Registered Activity) |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Maximum Credit Limit : |
USD 15000000 |
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|
|
|
Status : |
Excellent |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1981. The company is engaged in the
machining of precision engine forged components such as rocker arms,
connecting rods, crank shaft assembly gear shifter forks, etc., for both
wheeler and two wheeler segments. As per the financial records of 2017, the company has achieved a
favourable growth of 11.71% in its revenue as compared to the previous year’s
revenue and has earned a fair profitability margin of 7.17%. The strong financial profile of the company is reflected by robust net
worth base along with strong debt coverage indicators due to low debt balance
sheet profile and healthy liquidity position. Rating takes into consideration the company’s sound Earnings Per
Shares (EPS) of INR 10344.26 as against its Face Value (FV) of INR 100. Business is active. Payments seems to be regular. In view of healthy financial profile of the company, it can be
considered good for normal business dealings at usual trade terms and
condition. |
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term loans: AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
18.07.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term loans: A1+ |
|
Rating Explanation |
High degree of safety and carry lowest
credit risk. |
|
Date |
18.07.2017 |
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 08.02.2018
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.
LOCATIONS
|
Registered / Corporate Office / Factory 1 : |
261/C, Bommasandra Industrial Area, Hebbagodi Post, Anekal Taluk,
Bangalore – 560099, Karnataka, India |
|
Tel. No.: |
91-80-27833056/ 27833442 |
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Fax No.: |
91-80-27833642 |
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E-Mail : |
|
|
Website : |
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Factory 2 : |
No.8 (1106/8), A.M. Industrial Estate, G.B. Palya, Hosur Road,
Bangalore – 560068, Karnataka, India |
|
Tel. No.: |
91-80-25731078/ 25731088/ 25731227 |
|
Fax No.: |
91-80-25731092 |
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|
|
|
Factory 3 : |
No.1,
Bommasaandra-Jigani Link Road, Bommasandra Industrial Area, Bangalore -
560099, Karnataka, India |
|
Tel. No.: |
91-80-27839304/ 5/ 6/ 8 |
|
Fax No.: |
91-80-27839307 |
|
|
|
|
Factory 4 : |
Plot No.22 and
23, Sector-6, IMT Manesar, Gurgaon – 122050, Haryana, India |
|
Tel. No.: |
91-124-4367600/
03 |
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Fax No.: |
91-124-4367604 |
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|
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Factory 5 : |
B-18, MIDC Industrial Area Chakan, Pune – 410501, Maharashtra, India |
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Tel. No.: |
91-2135-666228 |
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Fax No.: |
91-2135-666222 |
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|
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Factory 6 : |
Plot No.18,
Sector-09, IIE, Pantnagar, District Udham Singh Nagar, Uttarakhand, India |
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Tel. No.: |
91-5944-250306/
307 |
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Fax No.: |
91-5944-250308 |
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Factory 7 : |
Survey No.143/A, Bommasaandra-Jigani
Link Road, Bangalore – 560015, Karnataka, India |
|
Tel. No.: |
91-80-27839081/
2/ 3 |
|
Fax No.: |
91-80-27839309 |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Fatheraj Singhvi |
||||||||||||||||||||||||||||||||||||||||
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Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||
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Address : |
Shanthi, No.232, Vishranti Enclave, Doddakalasandra Village,
Kanakapura Road, Bangalore - 560062, Karnataka, India |
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Date of Birth/Age : |
14.04.1955 |
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Qualification : |
B.Com, FCA |
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Date of Appointment : |
26.02.2008 |
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PAN No.: |
AGHPS5273J |
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DIN No.: |
00233146 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Subramonia Sekhar Vasan |
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Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
Oriental Home, No. 51, Ranga Rao Road, Basavanagudi, Bengaluru -
560004, Karnataka, India |
||||||||||||||||||||||||||||||||||||||||
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Date of Birth/Age : |
02.03.1953 |
||||||||||||||||||||||||||||||||||||||||
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Qualification : |
B. Tech (IIT) PGDM (IIMB) |
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Date of Appointment : |
15.12.1981 |
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PAN No.: |
BJPPS4171P |
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DIN No.: |
00361245 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Rajeev Kalra |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
B-3/703, Parsvnath Exotica, Sector 53, Golf Course Road, Gurgaon
-122002, Haryana, India |
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|
Date of Birth/Age : |
26.12.1968 |
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Date of Appointment : |
30.09.2015 |
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DIN No.: |
00833789 |
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Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||
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Name : |
Mr. Raunak Gupta |
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|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
C-21, Trishul Building Near Holy Spirit Hospital, Mahakali Caves Road,
Andheri East, Mumbai - 400093, Maharashtra, India |
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Date of Birth/Age : |
28.12.1978 |
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|
Qualification : |
B.
Tech, MBA |
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|
Date of Appointment : |
30.09.2013 |
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|
DIN No.: |
06624489 |
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|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Unni Rajagopal Kothenath |
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|
Designation : |
Director |
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|
Address : |
Tarawad, Palanahalli, Yelahanka Post, Bangalore - 560064, Karnataka,
India |
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Date of Birth/Age : |
17.07.1954 |
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Qualification : |
B.A., FCA |
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|
Date of Appointment : |
01.03.1991 |
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PAN No.: |
ABGPR0823H |
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|
DIN No.: |
00229915 |
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KEY EXECUTIVES
|
Name : |
Mr. Sourabh Kumar |
|
Designation : |
Company Secretary |
|
Address: |
J J Elita, Building no 602, Flat no 311, Near Govt School, Nayapanahalli Bannerghata Road, Bangalore -560068, Karnataka, India |
|
Date of Appointment : |
12.02.2016 |
|
PAN No.: |
ANLPK2461M |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders (Equity
Shares) |
|
No. of Shares |
|
Client EBENE Limited |
|
21164 |
|
CVCIGP II Employee EBENE Limited |
|
11853 |
|
Sekhar Vasan |
|
16976 |
|
Devappa Devaraj |
|
4713 |
|
Fatheraj Singhvi |
|
4713 |
|
Unni Rajagopal K |
|
4713 |
|
Nissin Manufacturing Company Limited |
|
300 |
|
Karthik Das |
|
208 |
|
Anjana Iyer |
|
100 |
|
|
|
|
|
Total |
|
64740 |
|
Names of Shareholders (Preference
Shares) |
|
No. of Shares |
|
CCPS A1 & A2 |
|
|
|
CVCIGP II Employee Ebene Limited, Mauritius |
|
107700 |
|
Client Ebene Limited, Mauritius |
|
192300 |
|
|
|
|
|
CCPS B1 & B2 |
|
|
|
CVCIGP II Employee Ebene Limited, Mauritius |
|
269250 |
|
Client Ebene Limited, Mauritius |
|
480750 |
|
Total |
|
1050000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 28.09.2017
|
Category |
Percentage |
|
Promoters- Individual/Hindu Undivided Family- Indian |
48.06 |
|
Public/Other than promoters- Individual/Hindu Undivided Family- Indian |
0.48 |
|
Public/Other than promoters - Body corporate |
51.46 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of auto components such as rocker arms,
connecting rods, gear shifters, crank shafts, and aerospace components and also
involved in providing services such as forging and other related services. (Registered Activity) |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
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|
||||
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Agencies Held : |
Not Available |
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||||
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Exports : |
Not Available |
||||
|
|
|
||||
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Imports : |
Not Available |
||||
|
|
|
||||
|
Terms : |
Not Available |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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|
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Customers : |
|
||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||
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No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
(INR
In Million)
|
|
Auditors : |
|
|
Name : |
B S R and Company LLP Chartered Accountants |
|
Address : |
Maruti Info Tech
Centre, 11-12/1, Inner Ring Road, Koramangala, Bangalore – 560 071,
Karnataka, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFB9852F |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary company: |
|
|
|
|
|
Other related
party: |
|
CAPITAL STRUCTURE
AS ON 28.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1150000 |
Equity Shares |
INR 100/- each |
INR 115.000 Million |
|
1050000 |
Preference Shares |
INR 100/- each |
INR 105.000 Million |
|
|
Total |
|
INR 220.000
Million |
Issued Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
64740 |
Equity Shares |
INR 100/- each |
INR 6.474 Million |
|
1050000 |
Preference Shares |
INR 100/- each |
INR 105.000 Million |
|
|
Total |
|
INR 111.474
Million |
AS ON 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1150000 |
Equity Shares |
INR 100/- each |
INR 115.000 Million |
|
1054000 |
Preference Shares |
INR 100/- each |
INR 105.400 Million |
|
|
Total |
|
INR 220.400
Million |
Issued Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
64740 |
Equity Shares |
INR 100/- each |
INR 6.474 Million |
|
1050000 |
Preference Shares |
INR 100/- each |
INR 105.000 Million |
|
|
Total |
|
INR 111.474
Million |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET (STANDALONE)
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
111.474 |
111.474 |
111.474 |
|
(b) Reserves and Surplus |
4988.098 |
4308.296 |
3479.464 |
|
(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) |
5099.572 |
4419.770 |
3590.938 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1101.180 |
722.090 |
483.020 |
|
(b) Deferred tax liabilities (Net) |
305.061 |
250.680 |
215.691 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
10.310 |
20.210 |
6.075 |
|
Total Non-current
Liabilities (3) |
1416.551 |
992.980 |
704.786 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
2124.293 |
1833.651 |
1677.309 |
|
(b) Trade
payables |
729.150 |
664.830 |
437.410 |
|
(c) Other
current liabilities |
679.438 |
576.075 |
392.908 |
|
(d) Short-term
provisions |
76.478 |
23.370 |
12.978 |
|
Total Current
Liabilities (4) |
3609.359 |
3097.926 |
2520.605 |
|
|
|
|
|
|
TOTAL |
10125.482 |
8510.676 |
6816.329 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
4880.813 |
3668.998 |
2718.284 |
|
(ii)
Intangible Assets |
0.000 |
2.736 |
7.366 |
|
(iii) Tangible assets
capital work-in-progress |
319.384 |
317.936 |
384.700 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
213.750 |
213.750 |
213.750 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
794.497 |
832.916 |
659.959 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
6208.444 |
5036.336 |
3984.059 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.100 |
0.100 |
0.100 |
|
(b)
Inventories |
1095.448 |
1033.415 |
1085.880 |
|
(c) Trade
receivables |
2008.040 |
1558.504 |
1377.991 |
|
(d) Cash and
bank balances |
148.420 |
424.430 |
77.318 |
|
(e)
Short-term loans and advances |
533.290 |
393.312 |
273.920 |
|
(f) Other
current assets |
131.740 |
64.579 |
17.061 |
|
Total
Current Assets |
3917.038 |
3474.340 |
2832.270 |
|
|
|
|
|
|
TOTAL |
10125.482 |
8510.676 |
6816.329 |
PROFIT
& LOSS ACCOUNT (STANDALONE)
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
9338.340 |
8359.691 |
7519.040 |
|
|
Other Income |
92.180 |
86.440 |
34.045 |
|
|
TOTAL |
9430.520 |
8446.131 |
7553.085 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
4158.790 |
3490.270 |
3174.620 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(86.460) |
(24.540) |
(49.073) |
|
|
Employee benefit expense |
1510.420 |
1360.750 |
1036.644 |
|
|
CSR expenditure |
14.210 |
6.077 |
4.020 |
|
|
Other expenses |
2200.140 |
2070.012 |
2021.285 |
|
|
TOTAL |
7797.100 |
6902.569 |
6187.496 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1633.420 |
1543.562 |
1365.589 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
298.590 |
288.600 |
199.679 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1334.830 |
1254.962 |
1165.910 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
394.903 |
314.620 |
286.610 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
939.927 |
940.342 |
879.300 |
|
|
|
|
|
|
|
Less |
TAX |
270.240 |
222.720 |
308.290 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
669.687 |
717.622 |
571.010 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2223.440 |
1995.440 |
2017.340 |
|
|
TOTAL EARNINGS |
2223.440 |
1995.440 |
2017.340 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
277.850 |
250.300 |
304.950 |
|
|
Components and spare
parts |
392.860 |
321.420 |
52.110 |
|
|
Capital Goods |
284.380 |
249.810 |
237.910 |
|
|
TOTAL IMPORTS |
955.090 |
821.530 |
594.970 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
10344.26 |
11084.67 |
8820.07 |
|
|
Diluted |
6312.39 |
6764.21 |
5382.28 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
309.230 |
327.040 |
198.670 |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net cash flows from (used in) operations |
1012.100 |
1629.428 |
1032.040 |
|
|
|
|
|
|
Net cash flows from (used in) operating activities |
809.950 |
1380.658 |
693.730 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
78.49 |
68.05 |
66.89 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
4.65 |
5.36 |
5.46 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
63.99 |
69.53 |
50.29 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
1.49 |
1.49 |
1.26 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.31 |
0.39 |
0.44 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.50 |
0.49 |
0.47 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.69 |
0.65 |
0.66 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.71 |
0.70 |
0.70 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
1.02 |
0.90 |
0.87 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
5.47 |
5.35 |
6.84 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
7.17 |
8.58 |
7.59 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
6.61 |
8.43 |
8.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
13.13 |
16.24 |
15.90 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.09 |
1.12 |
1.12 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.78 |
0.79 |
0.69 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.50 |
0.52 |
0.53 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
31.71 |
25.86 |
21.16 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.09 |
1.12 |
1.12 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
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 |
111.474 |
111.474 |
111.474 |
|
Reserves & Surplus |
3479.464 |
4308.296 |
4988.098 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
3590.938 |
4419.770 |
5099.572 |
|
|
|
|
|
|
Long-term borrowings |
483.020 |
722.090 |
1101.180 |
|
Short term borrowings |
1677.309 |
1833.651 |
2124.293 |
|
Current maturities of
long-term debts |
198.670 |
327.040 |
309.230 |
|
Total
borrowings |
2358.999 |
2882.781 |
3534.703 |
|
Debt/Equity
ratio |
0.657 |
0.652 |
0.693 |
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 |
7519.040 |
8359.691 |
9338.340 |
|
|
|
11.180 |
11.707 |
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 |
7519.040 |
8359.691 |
9338.340 |
|
Profit/ (Loss) |
571.010 |
717.622 |
669.687 |
|
|
7.59
% |
8.58
% |
7.17
% |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
111.474 |
111.474 |
|
(b) Reserves and Surplus |
|
4272.880 |
3488.880 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
4384.354 |
3600.354 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
786.340 |
531.650 |
|
(b) Deferred tax liabilities (Net) |
|
284.570 |
237.050 |
|
(c) Other long-term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
61.510 |
38.450 |
|
Total Non-current
Liabilities (3) |
|
1132.420 |
807.150 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
2002.930 |
1848.430 |
|
(b) Trade
payables |
|
837.780 |
509.250 |
|
(c) Other
current liabilities |
|
632.440 |
514.980 |
|
(d) Short-term
provisions |
|
20.170 |
19.260 |
|
Total Current
Liabilities (4) |
|
3493.320 |
2891.920 |
|
|
|
|
|
|
TOTAL |
|
9069.444 |
7356.544 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
4250.510 |
3168.310 |
|
(ii)
Intangible Assets |
|
146.170 |
148.800 |
|
(iii) Tangible assets
capital work-in-progress |
|
337.590 |
457.100 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
3.100 |
3.100 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
|
374.200 |
272.390 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
5111.570 |
4049.700 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.100 |
0.100 |
|
(b)
Inventories |
|
1311.510 |
1352.370 |
|
(c) Trade
receivables |
|
1705.490 |
1493.730 |
|
(d) Cash and
bank balances |
|
439.770 |
109.540 |
|
(e)
Short-term loans and advances |
|
434.830 |
347.000 |
|
(f) Other
current assets |
|
66.174 |
4.104 |
|
Total
Current Assets |
|
3957.874 |
3306.844 |
|
|
|
|
|
|
TOTAL |
|
9069.444 |
7356.544 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
9010.530 |
8139.970 |
|
|
Other Income |
|
48.140 |
7.040 |
|
|
TOTAL |
|
9058.670 |
8147.010 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
|
3773.260 |
3516.300 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
(26.610) |
(71.240) |
|
|
Employee benefit expense |
|
1703.010 |
1328.440 |
|
|
CSR expenditure |
|
6.080 |
4.020 |
|
|
Other expenses |
|
2007.100 |
1914.370 |
|
|
Prior period items |
|
0.000 |
40.720 |
|
|
TOTAL |
|
7462.840 |
6732.610 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
|
1595.830 |
1414.400 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
321.700 |
226.980 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
1274.130 |
1187.420 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
361.510 |
330.740 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
912.620 |
856.680 |
|
|
|
|
|
|
|
Less |
TAX |
|
237.590 |
318.850 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
675.030 |
537.830 |
|
|
|
|
|
|
|
|
Profit (loss) of minority
interest |
|
(2.220) |
(0.640) |
|
|
|
|
|
|
|
|
Total
profit (loss) for period |
|
672.810 |
537.190 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
|
|
|
|
Basic |
|
10392.49 |
8297.65 |
|
|
Diluted |
|
6341.82 |
5063.49 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter involved
in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
COMPANY OVERVIEW
Subject was incorporated on 15 December 1981 under the provisions of the Companies Ac t, 1956 with its registered office in Ban galore, Karnataka. The Company is involved in the business of manufacture of auto components such as rocker arms, connecting rods, gear shifters, crank shafts, and aerospace components. It is also involved in providing services such as forging and other related services.
UNSECURED LOANS:
(INR
In Million)
|
Particulars |
As
on 31.03.2017 |
As
on 31.03.2016 |
|
SHORT TERM
BORROWING |
|
|
|
Loans repayable on demand from banks |
100.000 |
100.000 |
|
Loans repayable on demand from others |
200.810 |
151.070 |
|
Total |
300.810 |
251.070 |
INDEX OF CHARGE:
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
AMOUNT |
ADDRESS |
|
1 |
G69905743 |
100139562 |
CITI BANK N.A. |
28/08/2017 |
- |
400000000.0 |
2ND FLOOR,
NO.5M.G. ROADBANGALOREKA560001IN |
|
2 |
G52305018 |
100064890 |
THE HONGKONG AND
SHANGHAI BANKING CORPORATION LIMITED |
14/11/2016 |
30/08/2017 |
450000000.0 |
NO 7 M G
ROADBANGALOREKA560001IN |
|
3 |
G34396267 |
100074177 |
YES BANK LIMITED |
29/09/2016 |
- |
50000000.0 |
NEHRU CENTER, 9TH
FLOOR, DISCOVERY OF INDIADR. A.B. ROAD, WORLIMUMBAIMH400018IN |
|
4 |
G34396994 |
100074180 |
YES BANK LIMITED |
29/09/2016 |
- |
300000000.0 |
NEHRU CENTER, 9TH
FLOOR, DISCOVERY OF INDIADR. A.B. ROAD, WORLIMUMBAIMH400018IN |
|
5 |
G13462742 |
100052768 |
BAJAJ FINANCE
LIMITED |
19/09/2016 |
- |
150000000.0 |
AKURDI
PUNE-PUNEMA411035IN |
|
6 |
G62564497 |
100061329 |
HDFC BANK LIMITED |
14/07/2016 |
16/09/2017 |
670000000.0 |
HDFC BANK
HOUSESENAPATI BAPAT MARGLOWER PARCEL WMUMBAIMH400013IN |
|
7 |
G29405982 |
10603892 |
HDFC BANK LIMITED |
05/11/2015 |
21/09/2016 |
500000000.0 |
EMERGING CORPORATE
GROUP, NO,8/24,SALCO CENTER, RICHMOND ROAD,BENGALURUKA560025IN |
|
8 |
G36092484 |
100056209 |
DBS BANK LTD |
19/10/2015 |
04/08/2016 |
250000000.0 |
SALARPURLA WINDSOR
NO.3 (OLD NO.10)ULSOOR ROAD, WARD NO.78BENGALURUKA560042IN |
|
9 |
G12440038 |
10583860 |
CITI BANK N.A. |
13/07/2015 |
25/05/2016 |
500000000.0 |
3RD FLOOR,
CANBERRA BLOCK,UB CITY, 24, VITTAL MALLYA ROAD,BANGALOREKA560001IN |
|
10 |
G12380226 |
10518977 |
BAJAJ FINANCE
LIMITED |
14/08/2014 |
25/05/2016 |
200000000.0 |
AKURDI
PUNE-PUNEMA411035IN |
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
Intangible assets
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records 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 64.14 |
|
|
1 |
INR 89.50 |
|
Euro |
1 |
INR 79.43 |
INFORMATION DETAILS
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared by
: |
KVT |
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.