MIRA
INFORM REPORT
|
Report Date : |
19TH June 2006 |
IDENTIFICATION
DETAILS
|
Name : |
KIRTI OVERSEAS |
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Registered Office : |
146, V. K. Mill Compound, Saijipur-Gopalpur Nr. Kataria
Transport, Pirana Road, Piplej, Ahmedabad-382 405. Gujarat State, India |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
2003 |
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TAN No.: [Tax Deduction & Collection Account No.] |
AHMK00917A |
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PAN No.: [Permanent Account No.] |
ADFPS0557E |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Subject is engaged in manufacturing
of Made-Ups- Bed Sheets, Table Linen, Aprons, Dish Cloth, Napkins, Scarves,
Sarees, Dress Materials etc |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 80000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having satisfactory track
rectors. Trade relations are fair. Payments are reported as slow but correct.
The concern can be considered normal for business dealings at
usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
146, V. K. Mill Compound, Saijipur-Gopalpur Nr. Kataria
Transport, Pirana Road, Piplej, Ahmedabad-382 405. Gujarat State, India |
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Tel. No.: |
91-79-25735526 |
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Mobile No.: |
91-9374019277 |
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Fax No.: |
91-79-25715554 |
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E-Mail : |
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Website : |
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Administrative Office : |
G/3 Chitra Ami Appartment, Nr. Times
of India, Ashram Road, Ahmedabad - 380 009 |
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Tel. No.: |
91-79-26584972 |
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Fax No.: |
91-79-26586349 |
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|
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Branches : |
252, New Cloth Market, Ahmedabad-380
002 |
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Tel. No.: |
91-79-22172979 |
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Fax No.: |
91-79-25715554 |
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|
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Mumbai Branch: |
12, Lalmani Building, 25/31, Dr.
Atmaram Merchant Rd.,
Bhuleshwer, Mumbai - 400 002 |
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Tel. No.: |
91- 22- 22404589 |
SOLE PROPRIETOR
|
Name : |
Mr. Jayant Agarwal |
|
Designation : |
Sole Proprietor |
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KEY EXECUTIVES
|
Name : |
Mr. Rajesh Das |
|
Designation : |
Manager-Exports |
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Mobile No. : |
91-9374019277 |
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BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing
of Made-Ups- Bed Sheets, Table Linen, Aprons, Dish Cloth, Napkins, Scarves,
Sarees, Dress Materials etc |
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|
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Exports to : |
Europe, USA, and Middle East |
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|
Imports from : |
Capital Goods,
components and spares, From Reputed Manufacturers & Suppliers in Europe |
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Terms : |
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Selling : |
/C/ DP/Cash & Credit up to 60-
Days |
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Purchasing : |
L/C., DP/ DA-60.Days/ Bank Through |
GENERAL
INFORMATION
|
Suppliers : |
Ř
German Based BIANEO machine and 2nd E+L for bowing
control Ř
Hawa Enterprises Plot
No. 361, B/h Chandola Police Chowky Ph. : 91-79-25395979/80 55233610 E-mail:
hawaenterprises@hotmail.com,
info@hawaenterprises.com Ř
Maniar Rubber Private Limited Office : Factory : Ř
Empire Aircondtioning Private Limited Administrative
Office. 38 & 53, Nirav Complex , Near
Navrang High School , Naranpura , AHEMDABAD 380 014 Tel No. 27681835, 27682181 Fax No: 27681835 Corporate
Office 'Empire House' , 18, Rangupvan
Society , Opp. Central Bank,Naranpura , AHEMDABAD 380 014 27681835, 27682181, 27681318 Works Address : 117, Ashirwad Industrial
Estate, Opp Fruit Market Naroda Road
AHEMDABAD 380 025 Phone : 22203116 e-mail
sales@empireairconditioning.com Ř
Voltas Ř
Olg Ř
Onida Ř
General Ř
Hitachi Ř
Aquaguard |
|
|
|
|
Bankers : |
Bank
of Baroda Ahmedabad-380
002. |
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Facilities : |
-- |
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Banking Relations : |
Satisfactory |
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|
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Auditors : |
Nahta Jain & Associates Chartered Accountants Ahmedabad.
Mr. I.
C. Nahta – Partner |
|
|
|
|
Associates/Subsidiaries : |
Ř
Anjani Group Ř
Anunay Fab. Limited Ř
Anjani
Synthetics Limited |
CAPITAL
STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.20.000 Million |
|
Borrowed : |
|
|
Total : |
Rs.20.000 Million |
FINANCIAL DATA
[all figures are in
Rupees Millions]
|
Particulars |
|
|
31.03.2006 |
|
Sales Turnover |
|
|
100.000 |
|
|
|
|
|
Subject
is expected to achieve a turnover of Rs115.Million for the coming year
Average
Stock maintained: Rs.15.Million.p.m
LOCAL
AGENCY FURTHER INFORMATION
Anjani Group
M/s.
ANUNAY FAB. LTD. G/3
Chitra Ami Appartment, Nr. Times of India, Ashram Road, Ahmedabad - 380 009
Phone :
91-79-26584972. 91-79-26588390.
Mobile :
91-9820100739.
Fax : 91-79-26586349 .
E-mail :
anunay@anunayfabrics.com
Web. : http://www.anunayfab.com
Inc. in 1992, stands as the main export arm of the group.
Mfr. & Export : Manufacturer
& Exporter Of Dyed & Printed Cotton And Printed Fabrics For Garments,
Made-ups. Also An Exporters Of Shopping Bags, Bed Linen, Scarves, Pareos And
Workers Overalls ( Boiler
Suits ).
HOUSEHOLD TEXTILES: BED SHEETS, CURTAINS,
TOWELS, etc.
Sales: Rs.500.Million. Employs:50.peopel[+500.on contract basis]
Mr.
Dhananjay Gupte-CEO. Mobile:
91-9820100739.
Mrs.
ANJANI AGARWAL-Managing Director.
M/s. Anjani
Synthetics Limited.
252, NEW CLOTH MARKET, AHMEDABAD-380
002
Phone :
91-79-22172979.
Fax : 91-79-25715554.
E-mail :
contact@anjanisynthetics.com
Web. : http://www.anjanisynthetics.com
Manufactures wide range of fabrics in
Cotton, Viscose, Polyester and Synthetic blended group. The companys product
range has both dyed and printed varieties. The company specializes in
manufacture of Dress material, Sheeting, Bed Linen, Scarves, Flannel, Knit
Fabrics, Jersey and Terry Sarees., etc.
Directors:
Mr.Purushottam R Agarwal
Director
Mr.Mahavir Prasad Dalmia
Director
Mr.Bhoorsing B Parihar
Director
Company Code : INE364D010
Year of Inception : 1984
Company Type : other than
Company Snapshot - Anjani
Synthetics Ltd.
Industry : Textiles - Processing/Texturising
ICICI Code : ANJSYN
|
Registered Office |
202, Kaivanna, Near Panchvati
Circle, Ahmedabad - 380006 Gujarat India |
|
Tel. |
26462955 / 26462956 |
|
Fax |
2173182 |
|
Website |
NA |
|
Chief Executive |
NA |
|
Company Secretary |
NA |
|
Business Group |
Anjani Group |
|
Incorporation Date |
31/08/1995 |
|
Market Capitalization ( Rs
cr ) |
3.81 |
|
Book Value |
308.75 |
|
Debt / Equity |
0.59 |
|
P/E |
4.23 |
|
Dividend Yield % |
NA |
|
EPS |
2.52 |
|
Return on Net Worth |
11.87 |
|
Current Ratio |
1.42 |
|
Quick Ratio |
0.79 |
|
Interest Cover |
4.77 |
|
|
NSE |
BSE |
|
Date |
NA |
15/06/2006 |
|
Open Price |
NA |
11.05 |
|
High Price |
NA |
12.95 |
|
Low Price |
NA |
10.50 |
|
Close Price |
NA |
10.65 |
|
Number of Trades |
NA |
58.00 |
|
Traded Quantity |
NA |
17,212.00 |
|
Traded Value |
NA |
193,705.00 |
|
52 Week High |
NA |
36.00 |
|
52 Week Low |
NA |
10.50 |
|
|
|
|
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||||||||||||
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||||||||||||
|
As On(Months) |
31-Mar-2006(3) |
31-Mar-2005(3) |
%
Change |
|
Sales of Products/Services |
207.76 |
249.35 |
-16.68 |
|
Other Income |
0.00 |
1.36 |
-- |
|
Total Income |
207.76 |
250.71 |
-17.13 |
|
Total Expenses |
197.88 |
235.77 |
-16.07 |
|
Stock Adjustments |
0.00 |
0.00 |
-- |
|
OPBDIT |
9.88 |
14.94 |
-33.87 |
|
Interest |
2.14 |
1.34 |
59.70 |
|
Depreciation |
4.38 |
3.36 |
30.36 |
|
Extraordinary Items |
0.00 |
0.00 |
-- |
|
Prior Period Adjustments |
0.00 |
0.00 |
-- |
|
Provision for Tax |
0.00 |
0.00 |
-- |
|
After Tax Profit |
3.37 |
10.23 |
-67.06 |
|
Equity Capital |
54.01 |
35.77 |
50.99 |
|
Reserves |
0.00 |
0.00 |
-- |
Anjani Synthetics Ltd members have
approved to reissue and allot in one or more lots 1823800 forfeited equity
shares of Rs 10 each for value not exceeding Rs 18238000 at a price as may be
determined by the board of directors but in any event not less than Rs 10 per
share.
The board has approved for borrowing money apart from temporary loans already
obtained from the company`s bankers in the ordinary course of business, will
exceed the aggregate of the paid up capital of the company and its free
reserves, that is to say reserves not set apart for any specific purpose by Rs
10 crore.
The board will mortgage or charge the whole or any part of the undertaking or
undertakings of the company or any assets of the company both present and
future or the whole or substantially the whole of the Company in such form and
in such manner as the board may deem fit, for securing any loan, advances or
any financial institutions, banks, insurance companies, person or persons or
secure any debenture that may be issued and all interest, compound or
additional interest, commitment charges, costs, charges, expenses and all other
moneys payable by the company to the concerned lenders up to the borrowing
limit of Rs.20.crore as approved by the shareholders of the company.
Anjani Synthetics Limited is presently quoting at Rs 29.45 at the BSE, down
9.24 per cent.
Company Profile
|
At a Glance |
|
|
Industry |
Textiles
- Processing/Texturising |
|
Business
Group |
Anjani
Group |
|
Face
Value |
10 |
|
Market
Lot |
1 |
|
Public
Issue Date |
31/08/1995 |
|
ISIN
No. |
INE364D01016 |
|
BSE
Code |
531223,
ANJANI |
|
NSE
Code |
Not
Listed |
|
Listed
at |
BSE |
|
Email |
|
Contact Details
Registered Office
202, Kaivanna,, Near Panchvati
Circle,, Ahmedabad, Gujarat - 380006
Tel: 26462955, 26462956
Fax: 2173182
Registrars
Pinnacle Share Registry Pvt. Ltd.
Arvind Ashoka Aruna Hospital Premises, Near Ashoka Mills, Naroda Road,
Ahmedabad - 380025, Gujarat.
Tel: 22200591, 22200582
Fax:
|
Recent News and Analysis |
|||
|
Head lines |
Date |
Source |
|
|
09/03/2006 |
Asian
CERC |
|
|
|
13/02/2006 |
Asian
CERC |
|
|
|
04/02/2006 |
Asian
CERC |
|
|
|
03/02/2006 |
Asian
CERC |
|
|
|
05/01/2006 |
Asian
CERC |
|
|
|
|
|||
Share Holding Pattern as on '31/03/2006'
|
Share Holding Pattern as on : |
31/03/2006 |
31/12/2005 |
30/09/2005 |
|||
|
Face Value |
10.00 |
10.00 |
10.00 |
|||
|
|
No. Of Shares |
% Holding |
No. Of Shares |
% Holding |
No. Of Shares |
% Holding |
|
PROMOTER'S
HOLDING |
||||||
|
Indian Promoters |
2935470 |
54.36 |
2666470 |
74.55 |
2666470 |
74.55 |
|
Sub Total |
2935470 |
54.36 |
2666470 |
74.55 |
2666470 |
74.55 |
|
Other Investors |
||||||
|
Private Corporate Bodies |
707749 |
13.11 |
212056 |
5.93 |
268418 |
7.50 |
|
NRI's/OCB's/Foreign Others |
270 |
0.00 |
510 |
0.01 |
700 |
0.02 |
|
Sub Total |
708019 |
13.11 |
212566 |
5.94 |
269118 |
7.52 |
|
General Public |
1757011 |
32.53 |
697664 |
19.51 |
641112 |
17.92 |
|
GRAND TOTAL |
5400500 |
100.00 |
3576700 |
100.00 |
3576700 |
100.00 |
Capital History
|
From Year |
To Year |
Class Of Share |
Authorised Capital |
Issued Capital |
Paid Up Shares in (Nos) |
Paid Up Face Value |
Paid Up Capital |
|
2003 |
2004 |
Equity Share |
60.0 |
35.8 |
3,576,700 |
10.00 |
35.8 |
|
2002 |
2003 |
Equity Share |
60.0 |
35.8 |
3,576,700 |
10.00 |
35.8 |
|
2000 |
2002 |
Equity Share |
60.0 |
54.0 |
5,400,500 |
10.00 |
54.0 |
|
1996 |
1998 |
Equity Share |
60.0 |
54.0 |
5,400,500 |
10.00 |
54.0 |
|
1995 |
1996 |
Equity Share |
60.0 |
54.0 |
5,400,500 |
10.00 |
54.0 |
|
1994 |
1995 |
Equity Share |
60.0 |
24.0 |
2,400,000 |
10.00 |
24.0 |
The group as a
whole produces in excess of 100 million metres of dyed and printed fabrics
annually, enjoying a rock solid reputation for quality and reliability in the
global quality conscious markets. The good-will enjoyed by the Group in the
domestic as well as the global market place is reflected in the steady growth
of the turnover which today has reached USD 58.92 million for the Group as a
whole with the Export business touching USD 28.247 million.
OPERATION :
The Group operations cover an area of 52,000 Sq. Mtrs. with
operations
managing in-house weaving, Bleaching, Dyeing & Printing,
fabric Processing and finishing plants with a capacity to deliver fabrics up to
the finished width of 300 cm and the stitching unit comprises an area of
16000Square-Metre
A well-equipped
Stitching Unit, converting finished fabrics into various home textile articles,
supports the above facilities. Fabrics up to the finished width of 300 cms. All
necessary infrastructure for various Dying and Printing
covering a
total area of 4,68,000 sq. ft.
The Group also procured another plot of land admg.3.acres, where
construction is under progress, opposite to its existing mfg. facilities at
the above address in Piplej.
Subject Employs 5.
people in the Reg. Office., and about
500.people at Works, on contract basis.
The Group Employs about 2,000.people altogether in their various
Mfg. Units.
COMMENTS :
The Anjani
Group offers a marvelous range of captivating Bed sets, reflecting the Group's commitment to presenting a design
collection ranging from artistic, co-existing ageless prints to Tribal murals,
floral, geometrics, wild life, conceptual, panel prints and many more.
These
fascinating prints are available in 100% Cotton Flannel [Biber], Seersucker
[Krepp/Kora] Satin, Satin Stripes, Swiss Dots, Percales, Polyester Cotton,
Micro fiber, Knits, glanz Satin [Polyester Satin] etc.
The Anjani
Group Profile
Since time
immemorial, India has been a fascinating destination for the fashion conscious
world for its sensuous Silks, spiritual Muslins, marvelous Satins and classical
Cottons.
Textile is a
part of the Indian history and culture. India has, since the very beginning of
civilization, been one of the world's most captivating and pulsating textile
destinations.
In the present
times, innovative and skillful Indian artisans and textile manufacturers
clustered their traditional fabric know how and inventory with new generation
technology and infrastructural development, presenting the world with an
astonishing collection of art and science in the field of TEXTILES.
In the
following pages, they narrate the saga of an organization that stands a head
above among the innovational manufacturers on the strength of its corporate
governance and professionalism, customer driven approach and a friendly
business atmosphere.
Captivating Bedsets
The Anjani
Group offers you a marvelous range of captivating Bed sets, reflecting the
Group's commitment to presenting a design collection ranging from artistic,
co-existing ageless prints to Tribal murals, floral, geometrics, wild life,
conceptual, panel prints and many more.
These
fascinating prints are available in 100% Cotton Flannel [Biber], Seersucker
[Krepp/Kora] Satin, Satin Stripes, Swiss Dots, Percales, Polyester Cotton,
Micro fiber, Knits, glanz Satin [Polyester Satin] etc.
The above are
stitched in various forms like Bed sheets, Duvet cover, Fitted, Quilts, Bed
skirts, Shams, Framed Cushion Covers, Pillow Covers, Bolsters etc.
Scintaliting Curtains
The Group
offers you a varied range of Window fashion accessories covering a range of
panels, scraps, tiers, valances and jobots in various designs and colors on
Sheers, Jacquards, Voiles, Organdies, Canvass, Satins etc.
Enrapturing Towels
The Anjani
Group offers a well complied and a complete range of bath accessories
comprising of articles like Hand Towels, Bath Towels, Beach Towels, Kitchen
Towels, Bath Robs, etc., and the range is presented on various Towel qualities
like Dyed, Printed, Stripes, Jacquard, embroidery, etc.
At the Anjani
Group Operations management commences right from the Raw material procurement
to the final finished product. The entire manufacturing process cycle is
monitored and supervised closely by a team of well-trained quality assurance
managers, ensuring the customer a superlative quality, time and again.
Commitment to
service and quality is the fundamental business motto at ANJANI and the group
today has an unrivalled reputation for timely deliveries and overall customer
satisfaction.
The Group
adheres to the international quality standards and inspection procedures, a
fact cemented by the repeat orders received for decades from its global
clientele, including some of the most renowned home fashion brands worldwide.
They at Anjani
Group create value for customers to earn a lifetime relationship. No one tries
harder for customers than Anjani Group. They try to understand customers better
than any one. They always strive to be energetic, innovative and they are first
for the customers. Complying requirements and continually improve the
effectiveness of quality management system. They create an environment of
teamwork and innovative approach.
Infrastructure
Established in
1992, ANUNAY FAB. LTD. stands as the main export arm of the group. The group as
a whole produces in excess of 100 million metres of dyed and printed fabrics
annually, enjoying a rock solid reputation for quality and reliability in the
global quality conscious markets. The good-will enjoyed by the Group in the
domestic as well as the global market place is reflected in the steady growth
of the turnover which today has reached USD 58.92 million for the Group as a
whole with the Export business touching USD 28.247 million.
The Group
operations cover an area of 52000 sq. mtrs. with operations managing in-house
weaving, Bleaching, Dyeing & Printing, fabric Processing and finishing
plants with a capacity to deliver fabrics up to the finished width of 300 cm
and the stitching unit comprises an area of 16000Square-Metre
A well equipped
Stitching Unit, converting finished fabrics into various home textile articles,
supports the above facilities. Fabrics up to the finished width of 300 cms.
The captivating and vivacious designing is carried out by
the in-house design studio, equipped with the latest in CAD Hardware & software,
manned by well trained and experienced personnel, having the expertise to
develop the best in designs for clients with short lead times. For better
utilization of time and cost saving, the group offers online design previews on
the group website with facilities enabling the clients to order modifications
online.
Weaving
Carrying
forward the perfectionist attitude, the Group has achieved an exponential
growth in exports in a considerably short time span. Growing with a focused
vision, investment has been carried out to establish New Shuttle less looms,
further enhancing the value additions and design capabilities.
The Groups
value added fabrics are intricate weaves offering a range of satins, premium
dobbies in 100% cotton and cotton blends with Polyester, Viscose and acrylic.
The Group
offers an exquisite and complete range of made ups in a range band of 180 to
1000 thread counts in various weaves like dobby, checks, stripes and solid dyed
fabrics.
OPERATIONAL INFRASTRUCTURE
36 Double
Sulzer Looms with a capability to weave fabrics up to 144 inches width
9 Rotary
Machines capable of printing fabrics up to the finished width of 300 Cms. and
colors varying up to 14 colors, including 12 colors auto-head rotary.
11 Flat
screen-printing machines.
9 Flannel
Raising machines with capacities of getting a finished fabric of width 320 cms.
Zero-Zero
finish machines for pre-shrunk fabrics up to finished width of 300 cms.
In-House
washing, dyeing and Bleaching Plants, with installed and operational 88 Jigger
Dyeing machines, 15 Jet Dyeing machines, 12 Drying Ranges, 3 Continuous
Bleaching plants with maximum possible dyeing width of 320 cms on cluster
machine.
A total of 400
State of the art Juki stitching machines with Anjani group , while Anunay Fab
accounting for a 100 of these machines.
Wider Width
Seersucker processing machines, up to 240 cms.
8 Finishing
Stenters, width capacities up to 300 cms.
*NEGETIVE COMMENT *
Subject Exports to Poland –mainly to
M/s. PPTA-Poland. (Ref.: Mr. Andrew)
However, there was some dispute with
this party in Poland due to Quality of Good Supplied to them, and both party is
in losses And the Polish party is supposed to make a claim/ sue for this. Thus,
subject discontinued its business with this Company. The CEO and Proprietor was
reluctant to comment more on
this
subject.
Proprietor is well experienced and
qualified, financially sound, enjoys better credits and reputation in the
market
Subject seems to be progressive. .
Anjani Synthetics Limited
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2005 |
31.03.2004 |
|
SHAREHOLDERS FUNDS |
|
|
|
|
1] Share Capital |
|
44.900 |
44.900 |
|
2] Share Application Money |
|
0.000 |
0.000 |
|
3] Reserves & Surplus |
|
46.900 |
36.100 |
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
NETWORTH |
|
91.800 |
81.000 |
|
LOAN FUNDS |
|
|
|
|
1] Secured Loans |
|
50.900 |
52.000 |
|
2] Unsecured Loans |
|
4.100 |
47.100 |
|
TOTAL BORROWING |
|
55.000 |
99.100 |
|
DEFERRED TAX LIABILITIES |
|
|
|
|
|
|
|
|
|
TOTAL |
|
146.800 |
180.100 |
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net
Block] |
|
57.600 |
40.000 |
|
Capital
work-in-progress |
|
11.300 |
19.100 |
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
Net
Current Assets |
|
77.900 |
121.000 |
|
|
|
|
|
|
MISCELLANEOUS
EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
TOTAL |
|
146.800 |
180.100 |
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 45.89 |
|
UK Pound |
1 |
Rs. 84.65 |
|
Euro |
1 |
Rs. 57.78 |
SCORE
& RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
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 |
|
TOTAL |
|
45 |
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 and their relative weights (as indicated
through %) are as follows:
Financial condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history (10%) Market
trend (10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound
financial base with the strongest capability for timely payment of interest
and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working
capital. No caution needed for credit transaction. It has above average
(strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational
base are regarded healthy. General unfavourable factors will not cause fatal
effect. Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable
factors carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent.
Repayment of interest and principal sums in default or expected to be in
default upon maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists.
Caution needed to be exercised |
Credit not recommended |