|
|
|
MIRA
INFORM REPORT
|
Report No. : |
492436 |
|
Report Date : |
17.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
EAGLE STEELS ROLLING MILLS PRIVATE LIMITED
|
|
|
|
|
Registered
Office : |
405, Gupta Bhavan, 32/38 Ahmedabad Street, Carnac Bunder, Mumbai - 400009,
Maharashtra |
|
Tel. No.: |
91-22-27412330 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2016 |
|
|
|
|
Date of
Incorporation : |
28.06.2012 |
|
|
|
|
Com. Reg. No.: |
11-232691 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 108.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28112MH2012PTC232691 |
|
|
|
|
IEC No.: |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
GSTIN : |
27AADCE0832E1Z3 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCE0832E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing, Exporting and trading of Angles and MS Channels, Girders Channels / Beams and thereby maintains the technology absorption level. (Registered activity and also Confirmed by management) |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 2012. The company is engaged in
the manufacturing of structural steel rolled products such as beams, channels
and angles. Management has not filed its financial record with government
department for the year 2017 and same are not available from any other
sources. For the financial year ended 2016, the company has reported a decline
in its revenue as compared to the previous year but has maintained low
profitability margin of 0.24%. The company possesses moderate financial profile marked by negative
reserve base and average debt balance sheet profile and weak liquidity
position. Business is active. Payment seems to be slow. In view of aforesaid, the company can be considered for business
dealings with some caution. |
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 |
CARE |
|
Rating |
Long Term Loans = BB- |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
01.02.2017 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Loans = A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
01.02.2017 |
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 17.02.2018
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.
INFORMATION PARTED BY
|
Name : |
Mr. Anil Rabhade |
|
Designation : |
Account Department |
|
Contact No.: |
91-22-27412330 |
|
Date : |
15.02.2018 |
LOCATIONS
|
Registered Office : |
405, Gupta Bhavan, 32/38 Ahmedabad Street, Carnac Bunder, Mumbai -
400009, Maharashtra, India |
|
Tel. No.: |
91-22-23483238/ 1369 / 24140957 |
|
Fax No.: |
91-11-23481238 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
C-24 and C4-1, MIDC Area, Taloja, Raigad – 410208, Maharashtra, India |
|
Tel. No.: |
91-22-27412505/ 27412330/ 56131375 |
|
Fax No.: |
91-22-27410109/ 27411009 |
|
E-Mail : |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Amrutlal Muneshwarprasad Shah |
|
Designation : |
Director |
|
Address : |
126, 7/8, Garden View, Sewree Wadala Road No.10, Wadala, Mumbai – 400031, Maharashtra, India |
|
Date of Birth/Age : |
10.02.1962 |
|
Qualification : |
Graduation |
|
Date of Appointment : |
28.06.2012 |
|
PAN No.: |
AAGPS0761G |
|
DIN No.: |
02107760 |
|
|
|
|
Name : |
Ms. Anita Amritlal Shah |
|
Designation : |
Director |
|
Address : |
126, 7/8, Garden View, Indulal D Bhuva Marg, Wadala, Mumbai – 400031, Maharashtra, India |
|
Date of Birth/Age : |
20.02.1969 |
|
Qualification : |
HSC |
|
Date of Appointment : |
28.06.2012 |
|
PAN No.: |
AAPPS4410D |
|
DIN No.: |
05216980 |
KEY EXECUTIVES
|
Name : |
Mr. Anil Rabhade |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2016
|
Names of Equity Shareholders |
|
No. of Shares |
|
Amritlal Shah |
|
2800000 |
|
Anita Amritlal Shah |
|
475000 |
|
Aditi Amritlal Shah |
|
331000 |
|
Kunal Amritlal Shah |
|
169000 |
|
Hariprasad Muneshwar Shah |
|
90000 |
|
Jankiprasad Muneshwar Shah |
|
90000 |
|
Maharashtra Steels Rolling Mills Private Limited, India |
|
45000 |
|
Total |
|
4000000 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Hariprasad Muneshwar Shah |
|
650000 |
|
Jankiprasad Muneshwar Shah |
|
1200000 |
|
Maharashtra Steels Rolling Mills Private Limited, India |
|
5000000 |
|
Total |
|
6850000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2016
|
Category |
Percentage |
|
Promoter – (Individual/ Hindu Undivided
Family – Indian) |
98.87 |
|
Promoter - Bodies
corporate |
1.13 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Exporting and trading of Angles and MS Channels, Girders Channels / Beams and thereby maintains the technology absorption level. (Registered activity and also Confirmed by management) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
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Countries : |
Oman |
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Imports : |
Not Divulged |
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Terms : |
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||||
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Selling : |
L/C and Cheque |
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Purchasing : |
L/C and Cheque |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
End Users and Manufacturer
|
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No. of Employees : |
Information declined by the management |
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Bankers : |
|
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Facilities : |
|
|
Auditors : |
|
|
Name : |
R. Trivedi and Associates Chartered Accountants |
|
Address : |
Ranjit Studios, 119, `G' Block, Ground Floor, Mumbai - 400 014, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABPT8670Q |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2016
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
INR 10/- each |
INR 40.000 Million |
|
7000000 |
Preference Shares |
INR 10/- each |
INR 70.000 Million |
|
|
Total
|
|
INR 110.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
INR 10/- each |
INR 40.000 Million |
|
6850000 |
Preference Shares |
INR 10/- each |
INR 68.500
Million |
|
|
Total
|
|
INR 108.500 Million |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
108.500 |
98.500 |
88.500 |
|
(b) Reserves & Surplus |
(3.672) |
(6.224) |
(8.877) |
|
(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) |
104.828 |
92.276 |
79.623 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
147.058 |
104.326 |
110.439 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
147.058 |
104.326 |
110.439 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
253.944 |
262.740 |
234.775 |
|
(b) Trade payables |
142.109 |
108.792 |
102.720 |
|
(c) Other current liabilities |
15.674 |
15.675 |
9.168 |
|
(d) Short-term provisions |
1.777 |
2.087 |
1.264 |
|
Total
Current Liabilities (4) |
413.504 |
389.294 |
347.927 |
|
|
|
|
|
|
TOTAL |
665.390 |
585.896 |
537.989 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
123.571 |
126.239 |
126.985 |
|
(ii) Intangible Assets |
0.344 |
0.459 |
0.611 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.529 |
1.599 |
1.659 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
125.444 |
128.297 |
129.255 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
145.906 |
142.663 |
108.200 |
|
(c) Trade receivables |
344.582 |
271.606 |
259.111 |
|
(d) Cash and cash equivalents |
16.585 |
14.371 |
11.434 |
|
(e) Short-term loans and
advances |
32.610 |
28.634 |
29.501 |
|
(f) Other current assets |
0.263 |
0.325 |
0.488 |
|
Total
Current Assets |
539.946 |
457.599 |
408.734 |
|
|
|
|
|
|
TOTAL |
665.390 |
585.896 |
537.989 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
|
SALES |
|
|
|
|
|
Income |
1052.421 |
1089.805 |
1012.972 |
|
|
Other Income |
15.453 |
18.836 |
25.110 |
|
|
TOTAL
|
1067.874 |
1108.641 |
1038.082 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
865.922 |
908.036 |
780.576 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
10.188 |
(25.763) |
42.864 |
|
|
Employees benefits expense |
14.242 |
14.016 |
12.652 |
|
|
Other expenses |
127.434 |
151.756 |
154.041 |
|
|
TOTAL |
1017.786 |
1048.045 |
990.133 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
50.088 |
60.596 |
47.949 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
37.392 |
46.013 |
45.953 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
12.696 |
14.583 |
1.996 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
11.176 |
11.302 |
12.385 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
1.520 |
3.281 |
-10.389 |
|
|
|
|
|
|
|
Less |
TAX |
(1.032) |
0.628 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
2.552 |
2.653 |
(10.389) |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
(6.224) |
(8.877) |
1.512 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(3.672) |
(6.224) |
(8.877) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
0.60 |
0.88 |
106.00 |
|
Particulars |
|
|
31.03.2017 |
|
Sales Turnover |
|
|
1200.000 |
|
|
|
|
|
The above information has been parted by Mr. Anil Rabhade (Accounts
Department)
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Cash generated from operations |
(13.108) |
1.366 |
32.446 |
|
Net cash flow from operating activity |
(13.803) |
1.369 |
29.566 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
119.51 |
90.97 |
93.36 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
3.05 |
4.01 |
3.91 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
59.90 |
43.73 |
48.03 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.34 |
0.42 |
0.44 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.40 |
0.48 |
0.38 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.84 |
0.84 |
0.85 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
3.83 |
3.98 |
4.34 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
3.94 |
4.22 |
4.37 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.18 |
1.37 |
1.60 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.34 |
1.32 |
1.04 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
0.24 |
0.24 |
(1.03) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
0.38 |
0.45 |
(1.93) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
2.43 |
2.88 |
(13.05) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2016 |
31.03.2015 |
31.03.2014 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.31 |
1.18 |
1.17 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.95 |
0.81 |
0.86 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.16 |
0.16 |
0.15 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
3.70 |
3.73 |
3.90 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.31 |
1.18 |
1.17 |
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 |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
88.500 |
98.500 |
108.500 |
|
Reserves & Surplus |
(8.877) |
(6.224) |
(3.672) |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
79.623 |
92.276 |
104.828 |
|
|
|
|
|
|
Long Term borrowings |
110.439 |
104.326 |
147.058 |
|
Short Term borrowings |
234.775 |
262.740 |
253.944 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
345.214 |
367.066 |
401.002 |
|
Debt/Equity
ratio |
4.336 |
3.978 |
3.825 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
1012.972 |
1089.805 |
1052.421 |
|
|
|
7.585 |
(3.430) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2014 |
31.03.2015 |
31.03.2016 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales
|
1012.972 |
1089.805 |
1052.421 |
|
Profit |
(10.389) |
2.653 |
2.552 |
|
|
(1.03%) |
0.24% |
0.24% |
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 |
Yes |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
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 |
No |
|
26 |
Turnover of firm for last four years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONAL REVIEW:
The Company continues to gear up all its resources to derive the maximum benefits in the present economic scenario and is taking adequate steps to ensure adequate reach in all corners of the country with vigorous marketing efforts and ceaseless cost reduction exercises. The Directors are fully seized of the fact that the need of the hour is to enhance the Revenue and Profit to higher levels and to achieve this end efforts have been initiated for adding value to services.
The Directors are hopeful that all the above, coupled with continuous monitoring of inventory, receivables and overheads, would result in healthier profits in future.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2016 (INR
in Million) |
31.03.2015 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans repayable on demand from others |
105.899 |
44.499 |
|
Loans and advances from related parties |
41.159 |
57.616 |
|
Total |
147.058 |
102.115 |
INDEX OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G37068962 |
10464496 |
Canara Bank |
11/11/2013 |
24/11/2016 |
- |
40000000.0 |
Tamrind Lane Branch, Crossly House, Ground Floor, British Hotel Lane, Mumbai 400001, Maharashtra, India |
|
2 |
G33631037 |
10390011 |
Canara Bank |
08/11/2012 |
05/01/2017 |
- |
400000000.0 |
Tamrind Lane Branch, Crossly House, Ground Floor, British Hotel Lane, Mumbai 400001, Maharashtra, India |
FIXED ASSETS
- Land
- Buildings
- Factory building
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
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 64.12 |
|
|
1 |
INR 89.17 |
|
Euro |
1 |
INR 79.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
SUJ |
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.