MIPL-Logo

3decades

 

MIRA INFORM REPORT

 

 

Report No. :

496154

Report Date :

09.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

SUNSOURCE ENERGY PRIVATE LIMITED

 

 

Registered Office :

B-53, Sector 37, RO 11, Greater Noida – 201303, Uttar Pradesh

Tel. No.:

91-120-6500409

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

18.01.2010

 

 

Com. Reg. No.:

20-039281

 

 

Capital Investment / Paid-up Capital :

INR 3.598 Million

 

 

CIN No.:

[Company Identification No.]

U74900UP2010PTC039281

 

 

IEC No.:

[Import-Export Code No.]

0511059957

 

 

GSTN :

[Goods & Service Tax Registration No.]

09AANCS7704F1Z2

 

 

TIN No:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AANCS7704F

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :
  • Manufacturing and sale of Solar Modules, sale of Solar Equipment and Systems, installation and Commissioning of Solar Power Plant. (Registered Activity)

 

  • Trader and Service providing turkey projects of installation and erection of solar energy products. (Confirmed by Management)

 

 

No. of Employees :

100 (Approximately)

 

 

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

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Maximum Credit Limit :

USD 350000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 2010.

 

It is engaged in providing Turnkey projects of installation services and erection of solar energy products.

 

For the financial year 2017, the company has achieved a massive growth in its revenue as compared to previous year and has reported decent profit margin of 16.97% the sound financial profile of the company is marked by adequate networth base along with strong debt coverage indicators due to low debt balance sheet profile.

 

Business is active. Payment seems to be usually correct.

 

In view of aforesaid, the company can be considered for business dealings at usual trade terms and conditions.

 

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

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

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

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 09.03.2018

 

 

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. Tarkeshwar Chaudhary

Designation :

Accountant

Contact No.:

91-120-6500409

Date :

08.03.2018

 

 

LOCATIONS

 

Registered Office :

B-53, Sector 37, RO 11, Greater Noida – 201303, Uttar Pradesh, India

Tel. No.:

91-120-6500409

Fax No.:

Not Available

E-Mail :

ca.divyajaiswani@gmail.com

contact@sunsource-energy.com

accounts@susourceenergy.com

Website :

http://sunsource-energy.com

Location :

Owned

Locality :

Commercial

 

 

Head Office :

B-14, Sector 132, Greater Noida – 201303, Uttar Pradesh, India

 

 

Overseas Office:

Located At:

 

  • Singapore
  • The Philippines
  • United States of America

 

 

DIRECTORS

 

As on 31.03.2017

 

Name :

Mr. Kushagra Nandan

Designation :

Director

Address :

HD-312, Sector-135, Noida-201301, Uttar Pradesh, India

Date of Birth/Age :

28.11.1980

Date of Appointment :

18.01.2010

DIN No:

02892238

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U74899DL1991PTC045395

SHARMA INDUSTRIES PRIVATE LIMITED

27/01/2014

-

U74120UP2012PTC051325

SUNSOURCE CLEANTECH VENTURES PRIVATE LIMITED

04/07/2012

-

U52390UP2014PTC062848

PURPLEFLOWER E-TAIL PRIVATE LIMITED

20/02/2014

-

U74900UP2014PTC063289

VVS SOLAR PROJECTS PRIVATE LIMITED

14/03/2014

-

U55101DL2007PTC165437

DIAMOND VALLEY TECHNOLOGIES PRIVATE LIMITED

01/09/2017

-

U74120UP2013PTC056327

JYOTIKIRAN ENERGY PRIVATE LIMITED

30/04/2013

-

U74120UP2015PTC070103

JYOTIKIRAN MAIDAWALI ENERGY PRIVATE LIMITED

14/04/2015

-

U74120UP2015PTC070101

JYOTIKIRAN BIJEYPUR ENERGY PRIVATE LIMITED

14/04/2015

-

U74120UP2015PTC070102

JYOTIKIRAN CHANDELI ENERGY PRIVATE LIMITED

14/04/2015

-

U74999UP2016PTC087882

LONE CYPRESS VENTURES PRIVATE LIMITED

23/11/2016

-

U74999UP2016PTC088273

VERDANTEARTH VENTURES PRIVATE LIMITED

13/12/2016

-

U74999UP2017PTC096378

TAIYUNG ENERGY PRIVATE LIMITED

29/08/2017

-

U74995UP2017PTC096893

TAIYUNG SOLAR PROJECTS PRIVATE LIMITED

13/09/2017

-

U74999UP2017PTC097595

TAIYUNG SOLARENERGY PRIVATE LIMITED

06/10/2017

-

U74999UP2018PTC101121

JYOTIKIRAN ENERGY BHILWARA PRIVATE LIMITED

19/02/2018

-

 

LLPIN/FLLPIN

LLP Name

Begin Date

End Date

AAF-6824

SUNSOURCE-ENERGY SERVICES LLP

10/02/2016

-

 

 

Name :

Mr. Adarsh Das

Designation :

Director

Address :

C-05, Paras Tiera, 3rd Floor, Sector-137, Noida-201303, Uttar Pradesh, India

Date of Birth/Age :

24.11.1975

Date of Appointment :

18.01.2010

DIN No:

02892968

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U74120UP2012PTC051325

SUNSOURCE CLEANTECH VENTURES PRIVATE LIMITED

04/07/2012

-

U74900UP2014PTC063289

VVS SOLAR PROJECTS PRIVATE LIMITED

14/03/2014

-

U74999DL2014PTC271764

S3 ENERGY PRIVATE LIMITED

21/02/2017

-

U55101DL2007PTC165437

DIAMOND VALLEY TECHNOLOGIES PRIVATE LIMITED

01/09/2017

-

U74120UP2013PTC056327

JYOTIKIRAN ENERGY PRIVATE LIMITED

30/04/2013

-

U74120UP2015PTC070103

JYOTIKIRAN MAIDAWALI ENERGY PRIVATE LIMITED

14/04/2015

-

U74120UP2015PTC070101

JYOTIKIRAN BIJEYPUR ENERGY PRIVATE LIMITED

14/04/2015

-

U74120UP2015PTC070102

JYOTIKIRAN CHANDELI ENERGY PRIVATE LIMITED

14/04/2015

-

U74999UP2016PTC088273

VERDANTEARTH VENTURES PRIVATE LIMITED

13/12/2016

-

U74999UP2017PTC096378

TAIYUNG ENERGY PRIVATE LIMITED

29/08/2017

-

U74995UP2017PTC096893

TAIYUNG SOLAR PROJECTS PRIVATE LIMITED

13/09/2017

-

U74999UP2017PTC097595

TAIYUNG SOLARENERGY PRIVATE LIMITED

06/10/2017

-

U74999UP2018PTC101121

JYOTIKIRAN ENERGY BHILWARA PRIVATE LIMITED

19/02/2018

-

 

 

LLPIN/FLLPIN

LLP Name

Begin Date

End Date

AAF-6824

SUNSOURCE-ENERGY SERVICES LLP

10/02/2016

-

 

 

KEY EXECUTIVES

 

Name :

Mr. Tarkeshwar Chaudhary

Designation :

Accountant

 

 

MAJOR SHAREHOLDERS

 

As on 31.03.2017

 

Names of Shareholders

No. of Shares

% of Holding

Sunsource Cleantech Ventures Private Limited, India

184800

51.36

Kushagra Nandan

87500

24.32

Adarsh Das

87500

24.32

Total

359800

100.00

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on: 30.09.2017

 

Category

Percentage

Promoters (Individual/Hindu Undivided Family – Indian)

48.64

Promoters (Other - Company)

51.36

Total 

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :
  • Manufacturing and sale of Solar Modules, sale of Solar Equipment and Systems, installation and Commissioning of Solar Power Plant. (Registered Activity)

 

  • Trader and Service providing turkey projects of installation and erection of solar energy products. (Confirmed by Management)

 

 

Products / Services :

Item Code No.

Products/Services Description

99833243

Engineering Services for Power Projects of Solar Power Including Cogeneration Facilities

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :

Philippines

 

 

Imports :

 

Products :

Raw Material

Countries :

China

 

 

Terms :

 

Selling :

Cheque and RTGS

 

 

Purchasing :

Credit (30/60 Days)

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

VVS Solar

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

  • Aavya Enterprises
  • AEI Power India Private Limited
  • Agility Logistics private Limited
  • Arya Communications
  • Arkin Creations Private Limited
  • Ashoka Security Services
  • BBRS Industrial Corporation
  • BMD Express
  • Brand Bazooka Advertising Private Limited
  • Clips Office Solution Private Limited

 

 

Customers :

End Users

Reference :

Amrit Bottlers Private Limited - Faridabad

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

  • Brindavan Agro Industries Private Limited, Chatta
  • Brindavan Beverages Private Limited, Bareily
  • Sunsource Energy Services Private Limited
  • IK Energy Private Limited
  • Nagarro Enterprises Services Private Limited
  • Solar Roof Dynamic, LLC
  • Tamoir Industrial Services Corporation
  • Allianz Ecopower Private Limited
  • Assomac Machines Limited
  • Big Sun Power Private Limited

 

 

No. of Employees :

100 (Approximately)

 

 

Bankers :

Banker Name :

ICICI Bank Limited

Branch :

Sector 132, Noida – 201304, Uttar Pradesh, India

Person Name (With Designation) :

--

Contact Number :

91-8081667777

Name of Account Holder :

--

Account Number :

--

Account Since (Date/Year of Account Opening) :

--

Average Balance Maintained :

--

Credit Facilities Enjoyed (CC/OD/Term Loan) :

--

Account Operation :

--

Remark :

--

 

  • State Bank of India, SME Branch, Okhla Industrial Area, New Delhi-110020, India
  • HDFC Bank Limited
  • Deutsche Bank Limited

 

 

Facilities :

Secured Loan

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

Car Loans

(Secured against hypothecation of Car)

2.349

3.028

Short-term borrowings

 

0.000

SBI Cash Credit Account

0.000

34.311

The National Small Industries Corporation Limited – Noida

0.000

3.851

Total

2.349

41.190

 

 

Financial Institutions:

Jain Sons Finlease Limited, 8-2-682/1, 4th Floor, Road No. 12, Banjara Hills, Hyderabad - 500034, Telangana, India

 

 

Auditors :

 

Name :

Garg Gul and Company

Chartered Accountants

Address :

R-14, 2nd Floor, Rajouri Garden, New Delhi-110027, India

Mobile No.:

91-9897022011

Income-tax PAN of auditor or auditor's firm :

AAEFG3359G

Email:

premgul@gmail.com

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Holding Company:

Sunsource Cleantech Ventures Private Limited (U74120UP2012PTC051325)

 

 

Other related parties:

  • Jyotikiran Bijeypur Energy Private Limited
  • Jyotikiran Chandeli Energy Private Limited
  • Jyotikiran Maidawali Energy Private Limited
  • VVS Solar Projects Private Limited
  • Jyotikiran Energy Private Limited
  • Sunsource Energy Services LLP
  • Purpleflower E-Tail Private Limited
  • Sharma International India Limited
  • Sharma Industries Private Limited
  • Sunsource Energy Americas INC-USA

 

 

CAPITAL STRUCTURE

 

As on: 30.09.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

360000

Equity Shares

INR 10/- each

INR 3.600 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

359800

Equity Shares

INR 10/- each

INR 3.598 Million

 

 

 

 

 

 

FINANCIAL DATA

[all figures are 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

3.598

3.598

3.048

(b) Reserves & Surplus

120.524

36.172

14.395

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.284

0.094

0.094

Total Shareholders’ Funds (1) + (2)

124.406

39.864

17.537

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

4.474

7.552

14.990

(b) Deferred tax liabilities (Net)

0.148

0.304

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)

4.622

7.856

14.990

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

0.000

38.162

16.376

(b) Trade payables

149.020

46.401

83.862

(c) Other current liabilities

16.172

9.223

6.533

(d) Short-term provisions

48.617

10.007

2.645

Total Current Liabilities (4)

213.809

103.793

109.416

 

 

 

 

TOTAL

342.837

151.513

141.943

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

12.478

12.540

11.379

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

12.478

12.540

11.379

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

53.968

5.043

47.145

(c) Trade receivables

128.229

69.771

77.101

(d) Cash and cash equivalents

79.253

49.221

1.831

(e) Short-term loans and advances

68.909

14.938

4.487

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

330.359

138.973

130.564

 

 

 

 

TOTAL

342.837

151.513

141.943

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

497.032

242.268

230.007

 

Services Receipts - Exports

380.111

105.279

8.143

 

Services Receipts - Local

13.472

15.425

15.274

 

Other Income

4.998

5.055

0.130

 

TOTAL

895.613

369.027

253.554

 

 

(Due to Business growth)

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

646.608

238.611

224.112

 

Preliminary Expenses 

0.000

0.000

0.007

 

Payment and provision to Staff

34.362

16.598

8.804

 

Administrative Expenses

77.425

80.141

10.509

 

TOTAL

758.395

335.350

243.432

 

 

 

 

 

 

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

137.218

33.677

10.122

 

 

 

 

 

Less

FINANCIAL EXPENSES

5.170

5.763

4.220

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

132.048

27.914

5.902

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION

1.915

0.879

0.426

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

130.133

27.035

5.476

 

 

 

 

 

Less

TAX

45.781

9.719

1.532

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

84.352

17.316

3.944

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

629.356

181.115

 NA

 

TOTAL EARNINGS

629.356

181.115

 NA

 

 

 

 

 

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

234.44 

48.13 

12.94 

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2017

31.03.2016

31.03.2015

Current Maturities of Long term debt

NA

NA

NA

Cash generated from operations

84.548

65.623

9.121

Net cash flows from (used in) operations

NA

NA

NA

Net cash flows from (used in) operating activity

38.768

57.208

7.589

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

94.17

105.12

122.35

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

3.88

3.47

2.98

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

84.12

70.98

136.58

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

2.54

6.48

0.21

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

11.00

2.61

0.89

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.64

0.73

0.88

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

0.04

1.15

1.79

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

1.72

2.60

6.24

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.10

0.31

0.65

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

26.54

5.67

2.40

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

16.97

6.73

1.71

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

24.60

10.77

2.78

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

67.80

40.93

22.49

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

1.55

1.34

1.19

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

1.29

1.29

0.76

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.36

0.26

0.12

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

1.24

12.71

10.29

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.55

1.34

1.19

 

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

3.048

3.598

3.598

Reserves & Surplus

14.395

36.172

120.524

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.094

0.094

0.284

Net worth

17.537

39.864

124.406

 

 

 

 

long-term borrowings

14.990

7.552

4.474

Short term borrowings

16.376

38.162

0.000

Total borrowings

31.366

45.714

4.474

Debt/Equity ratio

1.789

1.147

0.036

 

 

 

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

230.007

242.268

497.032

 

 

5.331

105.158

 

 

 

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

230.007

242.268

497.032

Profit

3.944

16.316

84.352

 

1.71%

6.73%

16.97%

 

 

 

 

 

 

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

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)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

Yes

19

Major customers

Yes

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last two/ three years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

Yes

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

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

 

 

 

PERFORMANCE:

 

Net Profit of INR 84.352 million for the financial year ended 31 March 2017.

 

 

UNSECURED LOAN

 

PARTICULARS

31.03.2017

(INR in Million)

31.03.2016

(INR in Million)

Long-term Borrowings

 

 

Bajaj Finserv – Business Loans

0.000

0.294

Deutsche Bank Loan

2.006

3.649

HDFC P.L.

0.119

0.581

Total

2.125

4.524

 

INDEX OF CHARGES

 

SNo

SRN

Charge Id

Charge Holder Name

Date of Creation

Date of Modification

Date of Satisfaction

Amount

Address

1

C77941193

10362805

State Bank of India

02/07/2012

05/09/2015

-

58000000.0

SME Branch, Okhla Industrial Area, New Delhi-110020, India

2

C01023951

10479564

JAIN SONS FINLEASE LIMITED

25/02/2014

-

25/03/2014

7000000.0

8-2-682/14th Floor, Road No. 12, Banjara Hills, Hyderabad-500034, Telangana, India

 

 

FIXED ASSETS

  • Air Conditioner
  • Attendance Machine
  •  Camera
  • Car
  • Computer
  • Electrical Equipment
  • EPABX
  • Furniture and Fixture
  • Generator
  • Building
  • Office Equipment
  • Solar
  • Tools
  • Wireless Handset
  • Telephone
  • Printer

 

 

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 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 64.92

UK Pound

1

INR 90.23

Euro

1

INR 80.54

 

 

INFORMATION DETAILS

 

Information Gathered by :

PNM

 

 

Analysis Done by :

VRS

 

 

Report Prepared by :

MTN

 

 

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

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)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.