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|
MIRA INFORM REPORT
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Report No. : |
495412 |
|
Report Date : |
09.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
SONAL VYAPAR PRIVATE LIMITED (w.e.f. 14.01.2016) |
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Formerly Known
As : |
SONAL VYAPAR LIMITED |
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Registered Office
: |
110/2, Nattamangalam Main Road, Maniyanur, Salem- 636010, Tamilnadu |
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Tel. No.: |
91-427-2271054/56 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
30.03.1983 |
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Com. Reg. No.: |
18-001263 |
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Capital
Investment / Paid-up Capital : |
INR 72.916 Million |
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|
|
|
CIN No.: [Company Identification
No.] |
U05110TZ1983PTC001263 |
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IEC No.: [Import-Export Code No.] |
Not Divulged |
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|
|
GSTN : [Goods & Service Tax Registration
No.] |
33AABCS0297D1ZP |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
AABCS0297D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject
is engaged in the manufacture and sale of iron and steel products.
[Registered Activity] |
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No. of Employees
: |
Information denied by the management |
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 |
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Maximum Credit Limit : |
USD 485000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1983 having satisfactory track record. It is engaged in the manufacture and seller of iron and steel product. For the financial year 2017, the company has achieved decent growth in its revenue as compared to its previous year but has maintained low profit margin during the year. Rating takes into consideration the satisfactory financial risk profile marked by its adequate net worth base and average debt protection metrics. Rating continue to derive strength from its long and established track record of its business operations backed by its well experienced management team. However, these rating is partially offset by the cyclicality inherent in the metal industry which result to inability of subject to scale up its operations without facing profitability pressures. Payments 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 |
ICRA |
|
Rating |
Long Term Rating = BB- |
|
Rating Explanation |
Moderate risk of default |
|
Date |
07.07.2017 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Rating = A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk |
|
Date |
07.07.2017 |
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 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 DENIED
MANAGEMENT NON-COOPERATIVE (TEL NO.: 91-427-2271054)
TEL NO.: 91-427-2271056 (CONTINUOUSLY
RINGING)
LOCATIONS
|
Registered Office : |
110/2, Nattamangalam Main Road, Maniyanur, Salem- 636010, Tamilnadu, India |
|
Tel. No.: |
91-427-2271054/56 |
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Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
AS ON 31.03.2017
|
Name : |
Mr. Rajasekaran |
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Designation : |
Whole-time Director |
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Address : |
36, State Bank Colony, Ammapet, Salem - 636003, Tamilnadu, India |
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Date of Birth/Age : |
14.04.1971 |
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Date of Appointment : |
23.01.2012 |
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DIN No.: |
03617162 |
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Other Directorship:
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Name : |
Mr. Ravi Ranjan Pathak |
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Designation : |
Director |
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Address : |
Flat No-C 001, Tower Vakil Whispring Wood Residency Thirumagandanhalli Bangalore – 562106, Karnataka, India |
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Date of Appointment : |
01.07.2017 |
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DIN No.: |
07642446 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Udayakumar Ravichandran |
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Designation : |
Company Secretary |
|
Address : |
No.27, Sanmuga Mudhaliar Street, Anakaputhur, Chennai-600070, Tamilnadu, India |
|
Date of Appointment : |
02.07.2016 |
|
PAN No.: |
ADLPU3268N |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
Arvind Kumar Gupta |
|
166105 |
|
Vandana Gupta |
|
20000 |
|
Naviditha Gupta |
|
80000 |
|
Poleman Steel Industries |
|
30000 |
|
Madras Elastomers Limited |
|
114700 |
|
Sri Hari Vallabha Enterprises and Investment Private Limited |
|
15000 |
|
Oriental Constructions Limited |
|
120000 |
|
Om Prakash HUF |
|
39000 |
|
Tamilnadu Properties Limited |
|
75000 |
|
M Beavlan |
|
500 |
|
Aspire Mercantile Private Limited |
|
140000 |
|
Chennai Material Recycling and
Trading Company Private Limited |
|
26000 |
|
OPG Power Maharashtra Private Limited |
|
1037500 |
|
OM Prakash Medical Research Trust |
|
338000 |
|
Delhi Steel Tubes Industries Limited |
|
637000 |
|
Assam Mercantile Company |
|
415000 |
|
Good Faith Vinney Private Limited |
|
220000 |
|
Dhanvarsha Enterprises and Investments Private Limited |
|
34000 |
|
Ravi Kumar Gupta |
|
1565265 |
|
Alok Gupta |
|
13100 |
|
Sonal Gupta |
|
140450 |
|
OPG Holdings India Private Limited |
|
2064980 |
|
Total |
|
7291600 |
AS ON 30.09.2017
|
Equity Share
Break up |
Percentage |
|
Category |
|
|
Promoters [Individual/Hindu Undivided Family - Indian] |
21.65 |
|
Public/Other than promoters [Individual/Hindu Undivided
Family - Indian] |
6.12 |
|
Public/Other than promoters [Bodies corporate] |
67.60 |
|
Public/Other than promoters [Others - Trust] |
4.63 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged in the manufacture and sale of iron and steel products.
[Registered Activity] |
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Products / Services
: |
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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 : |
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 : |
Information denied by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Chaturvedi and Company Chartered Accountants |
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Address : |
14, Padmanaba Street T. Nagar, Chennai – 600017, Tamilnadu, India |
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Tel. No.: |
91-44-28341255 / 28342655 |
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Fax No.: |
91-44-28344089 |
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E-Mail : |
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PAN No.: |
AABFC9567F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates: |
OPG Holdings India Private Limited (CIN No: U67120KA2005PTC038009) |
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Other Related Parties: |
·
Salem Food Products Limited ·
OPG Industries Limited ·
Kanishk Steel Industries Limited ·
South India Steel Industries ·
South India Steel and Starch Industries ·
OPG Power Maharashtra Private Limited ·
Durga Rubber Works ·
Maa Devsar Infrastructure & Steels Private Limited · Son a I Irons Industry Private Limited · APS Steels |
CAPITAL STRUCTURE
AS ON 30.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7500000 |
Equity Shares |
INR 10/- each |
INR 75.000 Million |
|
50000 |
Preference Shares |
INR 100/- each |
INR 5.000 Million |
|
|
Total |
|
INR 80.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7291600 |
Equity Shares |
INR 10/- each |
INR 72.916 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 |
72.916 |
72.916 |
72.916 |
|
(b) Reserves &
Surplus |
96.941 |
84.983 |
80.505 |
|
(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) |
169.857 |
157.899 |
153.421 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
85.959 |
13.060 |
19.155 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
4.260 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
2.051 |
1.563 |
1.481 |
|
Total Non-current
Liabilities (3) |
88.010 |
14.623 |
24.896 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
90.397 |
103.972 |
91.746 |
|
(b) Trade payables |
607.136 |
391.736 |
497.777 |
|
(c) Other current
liabilities |
184.752 |
14.436 |
7.252 |
|
(d) Short-term provisions |
8.385 |
8.661 |
5.138 |
|
Total Current Liabilities
(4) |
890.670 |
518.805 |
601.913 |
|
|
|
|
|
|
TOTAL |
1148.537 |
691.327 |
780.230 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
76.715 |
83.184 |
86.740 |
|
(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 |
148.963 |
77.030 |
36.148 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
53.672 |
39.998 |
28.604 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
279.350 |
200.212 |
151.492 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
320.083 |
227.932 |
211.780 |
|
(c) Trade receivables |
387.607 |
149.506 |
331.730 |
|
(d) Cash and cash
equivalents |
37.274 |
25.296 |
28.758 |
|
(e) Short-term loans and
advances |
108.962 |
68.951 |
39.238 |
|
(f) Other current assets |
15.261 |
19.430 |
17.232 |
|
Total Current Assets |
869.187 |
491.115 |
628.738 |
|
|
|
|
|
|
TOTAL |
1148.537 |
691.327 |
780.230 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
1501.930 |
1398.320 |
969.633 |
|
|
Other Income |
20.684 |
46.979 |
22.505 |
|
|
TOTAL |
1522.614 |
1445.299 |
992.138 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
376.063 |
512.225 |
691.134 |
|
|
Purchases of
Stock-in-Trade |
922.327 |
688.635 |
117.731 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(90.904) |
18.375 |
(11.872) |
|
|
Employee benefit expense |
9.302 |
5.648 |
6.482 |
|
|
Other expenses |
255.196 |
188.617 |
278.882 |
|
|
Extraordinary items before tax |
(4.631) |
0.000 |
0.000 |
|
|
TOTAL |
1467.353 |
1413.500 |
1082.357 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
55.261 |
31.799 |
(90.219) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
27.434 |
27.012 |
25.392 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
27.827 |
4.787 |
(115.611) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
2.405 |
4.537 |
6.897 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
25.422 |
0.250 |
(122.508) |
|
|
|
|
|
|
|
Less |
TAX |
13.464 |
(4.228) |
2.759 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
11.958 |
4.478 |
(125.267) |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.000 |
198.466 |
16.973 |
|
|
TOTAL IMPORTS |
0.000 |
198.466 |
16.973 |
|
|
|
|
|
|
|
|
EARNINGS / (LOSS) PER
SHARE (INR) |
1.63 |
0.61 |
(17.18) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term Borrowings |
6.000 |
6.000 |
6.000 |
|
Net cash flows from (used in) operations |
64.845 |
64.308 |
43.737 |
|
Net cash flows from (used in) operating activities |
55.736 |
67.800 |
43.737 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days [Sundry Debtors / Income *
365] |
6286.45 |
39.03 |
124.87 |
|
|
|
|
|
|
Account Receivables Turnover [Income / Sunday Debtors] |
0.06 |
9.35 |
2.92 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
170.68 |
119.07 |
224.62 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.16 |
0.14 |
(0.43) |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
0.66 |
0.38 |
(1.04) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.86 |
0.78 |
0.80 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
1.07 |
0.78 |
0.76 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
5.24 |
3.29 |
3.92 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.45 |
0.53 |
0.57 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
1.85 |
1.18 |
-3.55 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT / Sales) * 100) |
% |
32.56 |
0.32 |
(12.92) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
0.64 |
0.65 |
(16.06) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
4.31 |
2.84 |
(81.65) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.98 |
0.95 |
1.04 |
|
|
|
|
|
|
Quick Ratio ((Current Assets –
Inventories) / Current Liabilities) |
0.62 |
0.51 |
0.69 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.15 |
0.23 |
0.20 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
2.50 |
1.69 |
1.60 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.98 |
0.95 |
1.04 |
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 |
72.916 |
72.916 |
72.916 |
|
Reserves & Surplus |
80.505 |
84.983 |
96.941 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
153.421 |
157.899 |
169.857 |
|
|
|
|
|
|
Long-term borrowings |
19.155 |
13.060 |
85.959 |
|
Short term borrowings |
91.746 |
103.972 |
90.397 |
|
Current Maturities of Long
term borrowings |
6.000 |
6.000 |
6.000 |
|
Total
borrowings |
116.901 |
123.032 |
182.356 |
|
Debt/Equity
ratio |
0.762 |
0.779 |
1.074 |
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
|
969.633 |
1398.320 |
1501.930 |
|
|
|
44.211 |
7.410 |
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
|
969.633 |
1398.320 |
22.505 |
|
Profit/
(Loss) |
(125.267) |
4.478 |
7.327 |
|
|
(12.92
%) |
0.32% |
32.56% |
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 |
CORPORATE OVERVIEW:
The company incorporated under the Companies Act, 1956. (CIN No: U05110TZ1983PTC001263) in the year 1983 is engaged in the manufacture and sale of iron and steel products.
OPERATIONS AND FUTURE
OUTLOOK
The company has achieved a turnover of INR 1522.614 million during the year as against INR 1445.299 million during the last year. The Company has taken effective steps to increase the turnover by adopting various marketing strategies.
UNSECURED LOANS:
|
Particulars |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG-TERM
BORROWINGS |
|
|
|
From Other Related Parties |
78.982 |
0.000 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Loans and advances from others |
0.000 |
10.000 |
|
Total |
78.982 |
10.000 |
INDEX OF CHARGE:
|
S N o |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
C41576646 |
10545998 |
SBICAP TRUSTEE COMPANY LIMITED |
18/06/2014 |
- |
- |
383500000.0 |
202, MAKER TOWER - E,CUFFE PARADE MUMBAI-400005, MAHARASHTRA, INDIA |
|
4 |
Y10064185 |
90000170 |
ANNAMALLAI FINANCE LIMITED |
18/08/1987 |
- |
27/04/1993 |
209094.0 |
252; METTUPALAYAM ROAD COIMBATORE – 641043, TAMILNADU, INDIA |
|
3 |
Y10064457 |
90000442 |
STATE BANK OF INDORE |
24/08/1994 |
07/10/1995 |
10/10/2005 |
71000000.0 |
115; BROADWAY MADRAS-600108, TAMILNADU, INDIA |
|
2 |
G13018791 |
90001953 |
STATE BANK OF MYSORE |
04/08/2005 |
29/09/2016 |
- |
240800000.0 |
19/35B, CAR STREET, SALEM-636001, TAMILNADU, INDIA |
FIXED ASSETS:
· Land
· Buildings
· Office building
· Plant and equipment
· Other plant and equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipment’s
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 64.92 |
|
|
1 |
INR 90.23 |
|
Euro |
1 |
INR 80.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
PJP |
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.