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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

507338

Report Date :

11.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

TGS MINMET PRIVATE LIMITED

 

 

Registered Office :

D. No. 31-33-122/1, 4th Floor, Presidency Towers, Near Neelamma Vepachettu, Visakhapatnam – 530020, Andhra Pradesh

Mobile No.:

91-9848155272 (Mr. Grandhi Rajesh)

 

 

Country :

India

 

 

Financials (as on) :

31.03.2017

 

 

Date of Incorporation :

04.09.2014

 

 

Com. Reg. No.:

01-095227

 

 

Capital Investment / Paid-up Capital :

INR 80.000 Million

 

 

CIN No.:

[Company Identification No.]

U13201AP2014PTC095227

 

 

IEC No.:

[Import-Export Code No.]

2614002836

 

 

GSTN :

[Goods & Service Tax Registration No.]

37AAFCT1064P1ZW

 

 

TIN No.:

37405887933

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAFCT1064P

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :
  • Trading of Minerals’ and metals. [Registered activity]

 

  • Trader and Importer of minerals, metals, coal and steel such as TMT bars, MS Billets etc. [Confirmed by management]

 

 

No. of Employees :

28 (Approximately)

 

 

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 but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 2014 ad it is engaged in trading and import of Coal.

 

As per financials of March 2017, the company has registered a healthy growth in its revenue and reported minimal profit margin of 0.64%.

 

Rating takes into consideration the company’s limited track record of business operation marked by moderate financial risk profile along with low reserves level and unfavourable gap between trade payables to its trade receivables.

 

Rating is further constrained on account of susceptibility of its operations to foreign exchange fluctuation risk and intensity competition in coal trading.

 

However, ratings weakness is partially offset by extensive experience of its promoter and healthy demand prospects for imported non-coking coal in India.

 

Payments seems to be slow but correct.

 

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

(30.09.2017)

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

CRISIL

Rating

Long term rating: BB-

Rating Explanation

Moderate risk of default.

Date

07.07.2017

 

 

Rating Agency Name

CRISIL

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 31-03-2018.

 

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 11.05.2018

 

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. Grandhi Rajesh

Designation :

Director

Contact No.:

91-9848155272

Date :

07.05.2018

 

 

LOCATIONS

 

Registered Office :

D. No. 31-33-122/1, 4th Floor, Presidency Towers, Near Neelamma Vepachettu, Visakhapatnam – 530020, Andhra Pradesh, India

Tel. No.:

91-891-6621270

Mobile No.:

91-9848155272 (Mr. Rajesh Grandhi)

Fax No.:

Not Available

E-Mail :

vizag@integraltrading.net

sales@tgsminmet.com

Location :

Owned

Locality :

Industrial

 

 

DIRECTORS

 

AS ON 31.03.2018

 

Name :

Mr. Grandhi Rajesh

Designation :

Director

Address :

D.No.31-33-122/1, Presidency Towers, 4th Floor Neelama Vepachettu, Near Mamata Printing Press, Visakhapatnam-530020, Andhra Pradesh, India

Date of Birth/Age :

02.08.1976

Date of Appointment :

04.09.2014

PAN No.:

AEXPG0955M

DIN No.:

02506310

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U74990AP2009PTC063659

INTEGRAL CONTAINER FREIGHT STATION PRIVATE LIMITED

13/05/2009

-

U17121TG2009PTC064242

RAGHUNATH SPINTECH PRIVATE LIMITED

30/09/2016

-

U63000AP2010PTC067622

INTEGRAL TRADING AND LOGISTICS INDIA PRIVATE LIMITED

29/09/2012

-

U61200AP2012PTC081606

VPL INTEGRAL CFS PRIVATE LIMITED

01/12/2014

-

U74900AP2012PTC083036

SAIKRUTHI MINMET (INDIA) PRIVATE LIMITED

14/03/2014

-

U45200AP2016PTC104330

INTEGRAL ESTATES & DEVELOPERS PRIVATE LIMITED

24/10/2016

-

 

 

Name :

Mr. Raghunath Konathala

Designation :

Director

Address :

Kota Street Gavarapalem, Anakapalli, Visakhapatnam District -531002, Andhra Pradesh, India

Date of Birth/Age :

08.04.1965

Date of Appointment :

30.09.2015

PAN No.:

AJXPK4199A

DIN No.:

03503442

Other Directorship:

CIN/FCRN

Company Name

Begin Date

End Date

U17121TG2009PTC064242

RAGHUNATH SPINTECH PRIVATE LIMITED

20/07/2009

-

U63000AP2010PTC067622

INTEGRAL TRADING AND LOGISTICS INDIA PRIVATE LIMITED

15/06/2016

-

U74900AP2013PTC091794

K.B. MINMET PRIVATE LIMITED

18/12/2013

-

U45200AP2016PTC104330

INTEGRAL ESTATES & DEVELOPERS PRIVATE LIMITED

24/10/2016

-

 

 

Name :

Konathala Laxmi Sushma

Designation :

Additional Director

Address :

D No. 16-3-158/1, Kanathala Subramanyam Street, Gavarapalem, Anakapalle, Nidanam Doddi, Visakhapatnam-531002, Andhra Pradesh, India

Date of Birth/Age :

20.04.1993

Date of Appointment :

20.04.2017

DIN No.:

07798483

 

 

MAJOR SHAREHOLDERS

 

AS ON 31.03.2017

 

Names of Shareholders

No. of Shares

Grandhi Rajesh

 

4000000

Srinivasulu Harshanandan Tadikamalla

 

12500

Sudhakar Seetamraju

 

12500

Yerabolu Srinivas

 

12500

Raghunath Konathala

 

3958500

Konathala Ramkishna

 

1000

Boddeda Lakshmi Surenddrnath

 

1000

Boddeda Bhagya Lakshmi

 

1000

Konathala Rajani

 

1000

Total

 

8000000

 

Equity Share Break up (Percentage of Total Equity)

 

AS ON 30.09.2017

 

Category

Percentage

Promoters- Individual/Hindu Undivided Family- Indian

50.47

Public/Other than promoters- Individual/Hindu Undivided Family- Indian

49.53

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :
  • Trading of Minerals’ and metals. [Registered activity]

 

  • Trader and Importer of minerals, metals, coal and steel such as TMT bars, MS Billets etc. [Confirmed by management]

 

 

Products / Services :

Name and Description of main products / services

NIC Code of the Product/service

Trading of metals

9961192

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Available

 

 

Imports :

 

Products :

Raw material

Countries :
  • South Africa
  • Australia

 

 

Terms :

 

Selling :

L/C, Advance Payment and Others (RTGS)

 

 

Purchasing :

L/C, Advance Payment and Others (RTGS)

 

 

PRODUCTION STATUS – (NOT AVAILABLE)

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

Customers :

End Users

 

Reference :

Not Divulged

Name of the Person :

--

Contact No.:

--

Since How Long Known :

--

Maximum Limit Dealt :

--

Experience :

--

Remark:

--

 

 

No. of Employees :

28 (Approximately)

 

 

Bankers :

Banker Name :

Axis Bank

Branch :

MIC 25 and 26, Ground Floor, P & T Colony, Seethammadhara, Visakhapatnam - 530013, Andhra Pradesh, India

Person Name (With Designation) :

--

Contact Number :

--

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 :

--

 

  • Syndicate Bank, MID Corporate Branch, Pavan Commercial Complex, 1st Floor, Daba Gardens, Main Road, Visakhapatnam - 530020, Andhra Pradesh, India

 

 

Facilities :

(INR In Million)

SECURED LOAN

As on

31.03.2017

As on

31.03.2016

SHORT TERM BORROWING

 

 

Rupee term loans from banks

357.164

204.596

Loans and advances from directors

0.000

1.822

Total

357.164

206.418

 

 

Auditors :

 

Name :

Chalam Associates

Chartered Accountants

Address :

47-7-15, Second Floor, Dwaraka Nagar, Visakapatnam-5300016, Andhra Pradesh, India

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

AABFC4486H

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives:
  • Saikruthi Minmet (India) Private Limited, India [U74900AP2012PTC083036]
  • GMT Global Implex Private Limited, United States
  • Integral Trading and Logistics India Private Limited, India [U63000AP2010PTC067622]

 

CAPITAL STRUCTURE

 

AS ON 31.03.2017

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

9000000

Equity Shares

INR 10/- each

INR 90.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

8000000

Equity Shares

INR 10/- each

INR 80.000 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

80.000

40.000

0.500

(b) Reserves and Surplus

26.606

8.611

1.950

(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)

106.606

48.611

2.450

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

0.000

0.000

0.000

(b) Deferred tax liabilities (Net)

0.268

0.022

0.000

(c) Other long-term liabilities

37.261

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

37.529

0.022

0.000

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short-term borrowings

357.164

206.418

4.709

(b) Trade payables

51.286

286.768

227.509

(c) Other current liabilities

134.108

37.971

1.234

(d) Short-term provisions

0.000

0.000

0.000

Total Current Liabilities (4)

542.558

531.157

233.452

 

 

 

 

TOTAL

686.693

579.790

235.902

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

44.531

1.701

0.000

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Tangible assets 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 loans and advances

0.000

0.000

0.000

(e) Other Non-current assets

45.317

0.483

(0.960)

Total Non-Current Assets

89.848

2.184

(0.960)

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

50.291

203.796

0.000

(c) Trade receivables

545.977

340.914

218.780

(d) Cash and bank balances

0.577

26.986

18.082

(e) Short-term loans and advances

0.000

5.910

0.000

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

596.845

577.606

236.862

 

 

 

 

TOTAL

686.693

579.790

235.902

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2017

31.03.2016

31.03.2015

 

SALES

 

 

 

 

Income

2795.670

1315.053

331.305

 

Other Income

8.998

24.371

1.197

 

TOTAL

2804.668

1339.424

332.502

 

 

(Due to business growth)

 

Less

EXPENSES

 

 

 

 

Purchases of Stock-in-Trade

2500.235

1472.490

327.394

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

153.505

(203.796)

0.000

 

Employee benefit expense

3.272

0.484

0.186

 

Other expenses

91.840

49.285

1.877

 

TOTAL

2748.852

1318.463

329.457

 

 

 

 

 

 

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

55.816

20.961

3.045

 

 

 

 

 

Less

FINANCIAL EXPENSES

27.976

11.165

0.055

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

27.840

9.796

2.990

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

0.645

0.061

0.000

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

27.195

9.735

2.990

 

 

 

 

 

Less

TAX

9.200

3.074

1.040

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX

17.995

6.661

1.950

 

 

 

 

 

 

Earnings / (Loss) Per Share (INR)

2.25

1.67

38.99

 

 

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

NA

NA

NA

 

 

 

 

Net cash flows from (used in) operations

30.854

(25.783)

17.662

 

 

 

 

Net cash flows from (used in) operating activities

21.900

(28.835)

17.662

 

 

KEY RATIOS

 

EFFICIENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Average Collection Days

(Sundry Debtors / Income * 365 Days)

71.28

94.62

241.03

 

 

 

 

Account Receivables Turnover

(Income / Sundry Debtors)

5.12

3.86

1.51

 

 

 

 

Average Payment Days

(Sundry Creditors / Purchases * 365 Days)

7.49

71.08

253.64

 

 

 

 

Inventory Turnover

(Operating Income / Inventories)

1.11

0.10

0.00

 

 

 

 

Asset Turnover

(Operating Income / Net Fixed Assets)

1.25

12.32

0.00

 

LEVERAGE RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Debt Ratio

((Borrowing + Current Liabilities) / Total Assets)

0.79

0.92

0.99

 

 

 

 

Debt Equity Ratio

(Total Liability / Networth)

3.35

4.25

1.92

 

 

 

 

Current Liabilities to Networth

(Current Liabilities / Net Worth)

5.09

10.93

95.29

 

 

 

 

Fixed Assets to Networth

(Net Fixed Assets / Networth)

0.42

0.03

0.00

 

 

 

 

Interest Coverage Ratio

(PBIT / Financial Charges)

2.00

1.88

55.36

 

PROFITABILITY RATIOS

 

PARTICULARS

 

 

31.03.2017

31.03.2016

31.03.2015

Net Profit Margin

((PAT / Sales) * 100)

%

0.64

0.51

0.59

 

 

 

 

 

Return on Total Assets

((PAT / Total Assets) * 100)

%

2.62

1.15

0.83

 

 

 

 

 

Return on Investment (ROI)

((PAT / Networth) * 100)

%

16.88

13.70

79.59

 

SOLVENCY RATIOS

 

PARTICULARS

 

31.03.2017

31.03.2016

31.03.2015

Current Ratio

(Current Assets / Current Liabilities)

1.10

1.09

1.01

 

 

 

 

Quick Ratio

((Current Assets – Inventories) / Current Liabilities)

1.01

0.70

1.01

 

 

 

 

G-Score Ratio Financial

(Networth / Total Assets)

0.16

0.08

0.01

 

 

 

 

G-Score Ratio Debt

(Debts / Equity Capital)

4.46

5.16

9.42

 

 

 

 

G-Score Ratio Liquidity

(Total Current Assets / Total Current Liabilities)

1.10

1.09

1.01

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

0.500

40.000

80.000

Reserves & Surplus

1.950

8.611

26.606

Money received against share warrants

0.000

0.000

0.000

Share Application money pending allotment

0.000

0.000

0.000

Net worth

2.450

48.611

106.606

 

 

 

 

Long-term borrowings

0.000

0.000

0.000

Short term borrowings

4.709

206.418

357.164

Total borrowings

4.709

206.418

357.164

Debt/Equity ratio

1.922

4.246

3.350

 

 

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

331.305

1315.053

2795.670

 

 

296.931

112.590

 

 

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

331.305

1315.053

2795.670

Profit/ (Loss)

1.950

6.661

17.995

 

0.59 %

0.51 %

0.64 %

 

 

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

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

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%

Yes

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

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

 

BRIEF DESCRIPTION OF THE COMPANY WORKING DURING THE YEAR AND PRESENT STATE OF COMPANY’S AFFAIRS:

 

The company was Incorporated on 04.09.2014 to carry on the Business of Trading of Minerals’ and metals. The Board has conceived plans for effective operations in view of recovery of the business in all sectors. Hence, the company expects more business and profits in the financial year 2017-18.

 

INDEX OF CHARGE:

 

SNO

SRN

CHARGE ID

CHARGE HOLDER NAME

DATE OF CREATION

DATE OF MODIFICATION

AMOUNT

ADDRESS

1

G38194866

10595775

SYNDICATE BANK

18/09/2015

07/10/2016

350000000.0

MID CORPORATE BRANCH, PAVAN COMMERCIAL COMPLEX1ST FLOOR, DABAGARDENS, MAIN ROADVISAKHAPATNAMAP530020IN

 

 

FIXED ASSETS:

 

Tangible assets

 

  • Land
  • Plant and equipment
  • Furniture and fixtures
  • Vehicles
  • 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, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

INR

US Dollar

1

INR 67.38

UK Pound

1

INR 91.39

Euro

1

INR 79.89

 

 

INFORMATION DETAILS

 

Information Gathered by :

TEJ

 

 

Analysis Done by :

VIV

 

 

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)

 

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.