MIRA
INFORM REPORT
|
Report Date : |
12.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
YOUNGMAN WOOLLEN
MILLS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Village Seera,
Rohan Road, Ludhiana – 141007, Punjab |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
14.05.1981 |
|
|
|
|
Com. Reg. No.: |
16-4536 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U17117PB1981PTC004536 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
JYDY00060E /
JLDY00037C |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACY0912G |
|
|
|
|
Legal Form : |
Private Limited
Liability Company |
|
|
|
|
Line of Business : |
Manufacturer,
Exporter, Importer and Trader of Fabrics and Mink Blankets. |
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 |
|
Maximum Credit Limit : |
USD 352268 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a
well-established and reputed company having satisfactory track. Directors are
reported as experienced, respectable and having satisfactory means of their
own. Payments are usually correct and as per commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions |
LOCATIONS
|
Registered Office/Factory1: |
Village Seera,
Rohan Road, Ludhiana – 141007, Punjab, India |
|
Tel. No.: |
91-161-2690176 /
2690116 / 2691154 / 2691155 |
|
Mobile No.: |
91-9872700092 |
|
Fax No.: |
91-161-2690133 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
20086 Sq. ft |
|
Location : |
Owned |
|
|
Village Seera, Rahon Road, Ludhiana, Punjab (INDIA) 141007 Phone: +91-161-2690116, 2690176 Fax: +91-161-2690113 Email: sales@youngmanwm.com,
marketing@youngmanwm.com |
|
Factory 2 : |
86, Industrial Area,
A, Maya Nagar, Ludhiana – 141001, Punjab |
|
Tel. No.: |
91-161-2609411 |
|
Area : |
2.5 acres |
DIRECTORS
|
Name : |
Mr. Ramesh Kumar
Jagota |
|
Designation : |
Chairman and Managing Director |
|
Address : |
143 HBRS Nagar, Civil Lines, Ludhiana, Punjab |
|
Date of Birth/Age : |
12.08.1951 |
|
Qualification : |
B.Com |
|
Experience : |
35 years |
|
Date of Appointment : |
14.05.1981 |
|
|
|
|
Name : |
Mrs. Reema Jagota |
|
Designation : |
Director |
|
Address : |
143 HBRS Nagar, Civil Lines, Ludhiana, Punjab |
|
Date of Birth/Age : |
05.01.1956 |
|
Qualification : |
Graduate |
|
Experience : |
10 years |
|
Date of Appointment : |
20.04.1995 |
|
|
|
|
Name : |
Mr. Nitesh Jagota |
|
Designation : |
Director |
|
Address : |
143 HBRS Nagar, Civil Lines, Ludhiana, Punjab |
|
Date of Birth/Age : |
03.02.1978 |
|
Qualification : |
MBA |
|
Experience : |
8 Years |
|
Date of Appointment : |
26.11.2001 |
|
|
|
|
Name : |
Mr. Dishant
Jagota |
|
Designation : |
Director |
|
Address : |
143 HBRS Nagar, Civil Lines, Ludhiana, Punjab |
|
Date of Birth/Age : |
19.07.1984 |
|
Qualification : |
MBA |
|
Experience : |
2 Years |
|
Date of Appointment : |
20.01.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Ramesh Kumar
Jagota |
|
1436916 |
|
Mr. Nitesh Jagota |
|
699948 |
|
Mr. Ramesh Kumar
Jagota and Sons |
|
79268 |
|
Mrs. Reema Jagota |
|
373480 |
|
Master Dishant
Jagota |
|
489160 |
|
Baby Riti Jagota |
|
53228 |
|
Youngman
Investments Private Limited |
|
868000 |
|
Total |
|
4000000 |
|
|
|
|
Equity Shares Breakup (Percentage of Total Equity):
|
Sr No. |
Category |
Percentage |
|
1 |
Bodies Corporate |
22.00 |
|
2 |
Directors or relative of directors |
78.00 |
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer,
Exporter, Importer and Trader of Fabrics and Mink Blankets. |
|
|
|
|
Products : |
v
Acrylic
Blankets v
Knitted
Fabrics v
Pile Fabrics v
Mink
Blankets v Rags |
|
|
|
|
Exports : |
|
|
Countries : |
Australia, New
Zealand, U.K., USA, Greek, Turkey, Switzerland, Germany, Spain, Italy,
Cyprus, Canada, Portugal and France. |
|
|
|
|
Imports : |
|
|
Countries : |
Japan, Korea, Malaysia,
The Netherlands, Spain, Belgium, China, France and U.K |
|
|
|
|
Terms : |
|
|
Selling : |
L/C & Cash
(60 days) terms |
|
|
|
|
Purchasing : |
L/C & Cash
(60 days) terms |
GENERAL
INFORMATION
|
Customers : |
Wholesalers, Retailers,
End Users and OEM’s |
|
|
|
|
No. of Employees : |
200 |
|
|
|
|
Bankers : |
v
State Bank
of India, Overseas Branch, Sunder Nagar, Ludhiana - 141008, Punjab, India v
HDFC Bank v Citi Bank N.A. v ICICI Bank |
|
|
|
|
Facilities : |
State Bank of India
– Rs. 20.000 Millions |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Jain Subash and
Company Chartered
Accountants |
|
Address : |
B-1-645/3, Dr.
Bindraban Road, Civil Lines, Ludhiana – 141001, Punjab, India |
|
Tel. No.: |
91-161-2445911 |
|
|
|
|
Associates/Subsidiaries : |
Youngman Textiles
Limited, 86, Industrial Area, A Maya Nagar, Ludhiana – 141001, Punjab Line of Business
– Shody Yarn Youngman
Industries Limited Youngman Exports,
Ludhiana, Punjab Line of Business
– Mink Blankets, T-Shirts & others |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4000000 |
Equity Shares |
Rs. 10/- Each |
Rs. 40.000 Millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4000000 |
Equity Shares |
Rs. 10/- Each |
Rs. 40.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
40.000 |
40.000 |
40.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
48.067 |
43.929 |
41.005 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
88.067 |
83.929 |
81.005 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
124.937 |
100.545 |
92.693 |
|
|
2] Unsecured Loans |
2.044 |
2.535 |
2.068 |
|
|
TOTAL BORROWING |
126.981 |
103.080 |
94.761 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
215.048 |
187.009 |
175.766 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
63.863 |
51.582 |
49.530 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
67.325
|
61.342 |
73.975 |
|
|
Sundry Debtors |
76.121
|
67.128 |
50.911 |
|
|
Cash & Bank Balances |
17.992
|
9.377 |
7.295 |
|
|
Other Current Assets |
0.774
|
1.931 |
1.556 |
|
|
Loans & Advances |
12.710
|
12.919 |
13.668 |
|
Total
Current Assets |
174.922
|
152.697 |
147.405 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
19.459
|
13.622 |
17.673 |
|
|
Provisions |
4.278
|
3.648 |
3.496 |
|
Total
Current Liabilities |
23.737
|
17.270 |
21.169 |
|
|
Net Current Assets |
151.185
|
135.427 |
126.236 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
215.048 |
187.009 |
175.766 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
360.391 |
342.426 |
296.993 |
|
|
Other Income |
0.281 |
0.000 |
0.000 |
|
|
Total Income |
360.672 |
342.426 |
296.993 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
6.617 |
5.373 |
2.843 |
|
|
Provision for Taxation |
2.479 |
2.450 |
0.515 |
|
|
Profit/(Loss) After Tax |
4.138 |
2.923 |
2.328 |
|
|
|
|
|
|
|
|
Import Value |
NA |
13.389 |
42.082 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Financial Charges |
14.866 |
11.004 |
7.610 |
|
|
Depreciation & Amortization |
7.499 |
7.190 |
10.281 |
|
|
Other Expenditure |
309.325 |
300.665 |
258.368 |
|
Total Expenditure |
331.690 |
318.859 |
276.259 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
1.14
|
0.85 |
0.78 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.83
|
1.56 |
0.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.77
|
2.63 |
1.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.06 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.71
|
1.43 |
1.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.37
|
8.84 |
6.96 |
LOCAL AGENCY
FURTHER INFORMATION
It is in trade
terms with:
v
Cannon Steels
Private Limited
v
S. Bouver S.A
v
Hoyoung
Moolsan
v
S. Preet
Hosiery Private Limited
v
Vinaik Spinning
Mills Limited
v
Vardhman
Thread Limited
v
Amarson Yarn
Limited
v
Arora Fabres
Limited
v
Baba
Enterprises
v
Venus Packers
v
Pacific
Packers
v
Indian Auds
and Chemicals Private Limited
v
Radha Yarns
Private Limited
v
Arunoday Mills
Limited
v
Flora
International
FORM 8:-
|
Corporate
identity number of the company |
U17117PB1981PTC004536 |
|
Name of the
company |
YOUNGMAN WOOLLEN
MILLS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Village Seera, Rahon Road, Ludhiana – 141007, Punjab, India |
|
This form is for |
Modification of
Charges |
|
Type of charge |
Hypothecation and Equitable mortgage or mortgage of property by deposition the title deeds |
|
Particular of
charge holder |
State Bank of
India, SCB, Sunder Nagar, Deol Complex, Civil Lines, Ludhiana – 141008,
Punjab, India |
|
Date of
instrument Creating the charge |
30.06.2006 |
|
Amount secured by
the charge |
Rs. 85.700
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
CC
[Hypothecation] 107.5 Millions at SBAR CC (BD) Rs. 40 Millions at SBAR, EPC
Rs. 15 Millions Export bill purchase (Non L/C) Rs. 7.000 Millions, term loan
- I Rs. 22 Millions at SBMTLR, Term Loan – II Rs. 12 Millions at 0.25 % above
on SBAR FLC Rs. 42.500 Millions, B/ G Rs. 1.00 Millions, one time FLC Rs. 5.2
Millions and SLC 7.5 Millions. Extent of charge
100 % |
|
Description of
the property charged indicating whether it is a charged on |
Immovable
Properties, Plant and Machinery, Stock in Trade and Book Debts |
|
Particulars of
the property charged |
The movable plant
/ machinery and assets, all goods, book dents movable and pledged to SBI Factory land and
building situated at Rahon Road, Village Seera, Ludhiana vide vaskia no. 1983
dated 25.05.1981 8K 4 Marle, 2431
dated 29.05.1981- 8k 0 Marle , 5201 dated 26.06.1981 9 K 0 Marle and 3755
dated 11.06.1981- 8 K 4 Marle registered in the name of the company. |
|
Charge
identification number of the charge to be modified |
80009430 |
|
Brief description
of the instrument modifying the charge under section 135 |
Form C.1 - A,
Form C 2-A, form C .3A and Form C. 5. |
|
Particulars of the
present modification |
Increase in Fund
based and non fund based facilities from existing level of Rs. 171.000
millions to Rs. 192.500 millions as per agreement attached. |
|
Name of the company |
YOUNGMAN WOOLLEN MILLS PRIVATE LIMITED |
||||||||||||||||||||||||||||||||||||||||||||
|
Presented By |
MR. RAMESH KUMAR JAGOTA, DIRECTOR |
||||||||||||||||||||||||||||||||||||||||||||
|
1) Date and description of instrument creating the change |
Agreement of Loan
for Overall limits [Form C-1] Agreement of
Hypothecation of goods and assets [Form-C2] Letter regarding grant
of Individual limits [Form – C-5] All the above
mentioned agreements dated 24.05.1999 between the company of the one part and
SBI, SCB, Deol Complex, Civil Lines, Ludhiana of the other part. |
||||||||||||||||||||||||||||||||||||||||||||
|
2) Amount secured by the charge/amount owing on the securities of charge |
The loan are
secured with interest, future interest, liquidated damages costs charges,
expenses and all other moneys payable by the company to SBI, SCB, Dcol Complex, Civil Lines, Ludhiana
in terms of the loan agreement dated the 24.05.1999 between the company of
the one part and SBI of the other part. |
||||||||||||||||||||||||||||||||||||||||||||
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
The movable plant,
machinery and assets purchased / to be purchased out of the above term loan. All immovable
properties owned by the company to the mortgaged detailed hereunder : Factory land and
building situated at Rahon Road, Village Seera, Ludhiana
All goods, book
debts movables and / or pledged to SBI, SCB, Dcol Complex, Civil Lines, Ludhiana
and all unencumbered movable or immovable property. |
||||||||||||||||||||||||||||||||||||||||||||
|
4) Gist of the terms and conditions and extent and operation of the charge. |
RATE OF INTEREST Cash credit 2.25 % above SBAR
plus interest tax effective rate of interest 14.53 % p.a. MTL 2.50 % above
SBTL plus interest tax effective rate of interest 17.34 % p.a. for term loan
of Rs. 0.600 Millions and 16.83 % p.a. for term loan of Rs. 14.600 Millions MTL 2.00 % above
SBTL plus interest tax effective rate of interest 14.28 % p.a. EXTENT AND
OPERATION OF CHARGE 100 % REPAYMENT Cash Credit on
Demand MTL As per
Repayment Schedule MARGIN
OTHER TERMS AND
CONDITIONS The charge
operates exclusive charge to secure the due repayment loan of the overall
limits together with interest, further interest liquidated damages, costs,
charges, expenses and all other moneys payable by the company under the said
loan agreement. The company has
undertaken to keep the hypothecated goods in marketable and good condition at
its own costs and to insure the same in the joint names of the company SBI. All the goods
hypothecated and all realizations and insurance proceeds thereof and all
documents in respect of the said security are to be kept distinguishable and
held as the exclusive property of SBI. The security
created under the said agreement of loan is to be a continuing term
security. |
||||||||||||||||||||||||||||||||||||||||||||
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of
India, SCB, Deol Complex, Civil Lines, Ludhiana |
||||||||||||||||||||||||||||||||||||||||||||
|
6) Date and brief description of instrument modifying the charge |
Supplemental
agreement of loan for increase in the overall limit [C-1-A] Supplemental
agreement of Hypothecation of goods and assets for interest in the overall
limit [C-2-A] Supplemental
agreement of pledge of goods and assets for increase in the overall limit
[Form C-3-A] Supplemental deed
of agreement for increase in the overall limit [FormC4-A] Letter regarding
the grant of individual limits with in the overall limit all dated 23.06.2005
between the company of one part and SBI, SHB, Sunder Nagar, Ludhiana of the
other part. |
||||||||||||||||||||||||||||||||||||||||||||
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
REPAYMENT Cash Credit on
Demand Term Loan As per
Repayment Schedule RATE OF INTEREST Cash credit 1.50 % above SBAR
minimum rate of interest 11.75 % p.a. with monthly rests subject to revision
from time to time. ECP and FBP 3.75 % below SBAR
minimum rate of interest 6.50 % p.a. with monthly rests subject to remission
from time to time or as directed by RBI SLC 2.50% above SBAR
minimum rate of interest 12.75 % p.a. with monthly rests subject to revision
from time to time. Term Loan
[Existing] At PLR Rate i.e.
minimum 10.25 % p.a. with monthly rests subject to revision from time to
time. Term Loan [Fresh] 0.25 % below SBAR
i.e. minimum 10.00 %p.a. with monthly rests subject to revision form time to
time. MARGIN
Name and address
of the person entitled to charge State Bank of
India, Specialised Hosiery Branch, Sunder Nagar, Ludhiana All other terms
and conditions remaining unchanged. |
WEBSITE DETAILS:
Company Profile
Subject promoted by Mr. Ramesh Kumar Jagota was established to manufacture world class
products for the domestic as well as overseas markets. Mr. Jagota is also being supported by their two energetic and
enthusiastic sons. Both sons, Mr.
Nitesh Jagota and Mr. Dishant
Jagota are highly qualified in managerial and technical stream and
look-after all the business activities.
The Company was initially established in 1952 for manufacturing hand
knitting acrylic yarn. Later on with passage of time other manufacturing
facilities had been added to introduce new products in the market. The
company’s manufacturing facilities are located in Ludhiana (Punjab), India
spreading over 15 acres of land. It is equipped with German and Korean
machines. Youngman boasts of a modern production unit with state-of-the-art
machines. The dedicated teamwork executed by their skilled workers, designers,
professionals and management enables them to fulfill their customers'
requirements on time and thus adding to the goodwill of the company. All this
is being made possible with the availability of in-house design studio, EDP and
MIS systems.
Youngman focuses on quality that is evident in its product range. The
company undertakes stringent quality control measures ensuring supreme product
quality and enabling a scheduled delivery of orders with zero defects. Youngman
has integrated plants with composite facilities of knitting, dyeing, processing
and printing. The entire range of fabrics including high-pile, artificial fur,
artificial suede, mink fabrics, boa fabrics, bonded fabrics and warp knitted
fabrics are available in different feel, finish, looks and width ( varying
between 60 inches to 90 inches ). These fabrics are available in pure cotton,
polyester, acrylic, Wool and in different blends of such materials.
Other than fabrics, the Youngman also ventured into home furnishings
items. The product range includes Blankets, Cushions, Throws, Quilts,
Bed-covers, Bed Sheets, Carpets, Rugs, Runners, Bean-bags etc. In short,
Youngman is a manufacturer and exporter of traditional Indian fabrics,
textiles, home furnishings and home decor accessories. The reputed manufacturer
and exporter using their fabric range present an exotic amalgamation of
innovative ideas and creative styles in its home décor accessories.
Youngman supports customer needs with new product development with
integrated product development teams. They take great pride in their
engineering capabilities and technical support and provide a broad product line
to meet customer needs. Youngman has established its domestic network all over
India and overseas market by exporting 20% of its products to Europe,
Australia, New Zealand, Middle East, USA, Canada and UK. They have the zeal to
extend their services to the clientele across the globe and set a new trend in
home furnishing. They invite new business proposals, tie-ups and bulk orders.
All business queries are invited and will be clarified in the shortest
possible time.
Products
Youngman is proud of its legacy of bringing demure creations of art to
its esteemed clients. The factory situated at Ludhiana (Punjab, India) is a
composite unit with state of the art machinery imported from Korea and U.S. A
with focus on Hi-Pile Fabrics and Mink Blankets, the company has been chuming
out beautiful Velboa Fabrics and Bonded Fabrics, Throws, Cushion Covers and
Suede Fabrics for partons across 20 countries for over half a century now.
Mink Blankets
· Elegant
· Safari
· Funky
Hi-Pile Fabrics
· Boa
· Velboa
· Suede
· Hi- Pile
· Sherpa
Home Furnishing
· Quilts
· Carpets
Management
Consistent Quality and timely delivery of products are two main factors
of their success. Being one the most reputed suppliers of mink blankets, home furnishing
products and quality Hi Pile fabrics they have the capacity to cater to varied
needs of customers worldwide. Established by Mr. Ramesh Kumar Jagota, the
company is now enthusiastically supported by his technically qualified sons Mr. Nitesh Jagota and Mr. Dishant Jagota.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.68 |
|
UK Pound |
1 |
Rs.77.67 |
|
Euro |
1 |
Rs.57.81 |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|