MIRA
INFORM REPORT
|
Report Date : |
20.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
|
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|
Registered Office : |
Flat No. 9, Rasika Housing Society, RH – 54, G Block, Chinchwad, Pune –
411019, Maharashtra |
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Country : |
India |
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|
Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2003 |
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PAN No.: [Permanent
Account No.] |
ABLPH2026D |
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|
VAT TIN No. : |
27240080423 V w.e.f. 1/4/06 |
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CST TIN No.: |
27240080423 C w.e.f. 1/4/06 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Press Tools and Press Components |
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 |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject seems to be a well established and reputed concern and
progressing well. Promoters are reported as experienced, respectable and
having satisfactory means of their own. Trade relations are fair. Business is
active. Payments are reported as usually correct and as per commitments. The concern can be considered good for normal business at usual trade
terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. S. P. Halasgi |
|
Contact No.: |
91-9326738884 |
|
Date : |
19.07.2008 |
LOCATIONS
|
Registered Office : |
Flat No. 9, Rasika Housing Society, G – Block, RH – 54, G Block,
Chinchwad, Pune – 411019, Maharashtra, India |
|
Mobile No.: |
91-9326738894 / 9890282377 |
|
Area : |
864 sq. ft. [Owned] |
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Factory : |
Sector 10, Plot No. 288, PCNDTA, Bhosari, Pune – 411026, Maharashtra,
India |
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Tel. No.: |
91-20-65307505 |
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Fax No.: |
91-20-27657563 |
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E-Mail : |
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|
Area : |
1250 sq. ft. [Rented] |
SOLE PROPRIETOR
|
Name : |
Mrs. Vinaya S. Halasgi |
|
Designation : |
Proprietor |
|
Address : |
Royal Plaza, Flat No. 15, Plot No. 101, Purna Nagar, Chinchwad, Pune –
411019 |
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PAN No.: |
ABLPH2026D |
|
Date of Birth/Age : |
12.06.1968 |
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Qualification : |
B. Com. |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Press Tools and Press Components |
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Terms : |
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Selling : |
Credit [60 days] |
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Purchasing : |
Credit [30 days] |
PRODUCTION STATUS
|
Particulars |
|
|
|
Actual
Production |
|
Press tools and Press Components |
|
|
|
0.850 Millions
p.m. |
GENERAL
INFORMATION
|
Suppliers : |
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Customers : |
End Users
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No. of Employees : |
8 |
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Bankers : |
Corporation Bank, Chichwad Branch, Pune – 411019 |
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|
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 0.634 Million |
|
Borrowed : |
-- |
|
Total : |
Rs. 0.634 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.634 |
0.415 |
0.154 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.688 |
0.317 |
0.207 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1.322 |
0.732 |
0.361 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.468 |
0.415 |
0.065 |
|
|
TOTAL BORROWING |
0.468 |
0.415 |
0.065 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
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|
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TOTAL |
1.790 |
1.147 |
0.426 |
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APPLICATION OF FUNDS |
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|
|
|
|
|
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FIXED ASSETS [Net Block] |
0.600 |
0.687 |
0.435 |
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|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
INVESTMENT |
0.104 |
0.104 |
0.097 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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Inventories |
0.410
|
0.116 |
0.067 |
|
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Sundry Debtors |
0.606
|
0.252 |
0.060 |
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|
Cash & Bank Balances |
0.616
|
0.153 |
0.060 |
|
|
Other Current Assets |
0.030
|
0.038 |
0.030 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
1.662
|
0.559 |
0.217 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
0.576
|
0.203 |
0.277 |
|
|
Provisions |
0.000
|
0.000 |
0.046 |
|
Total
Current Liabilities |
0.576
|
0.203 |
0.323 |
|
|
Net Current Assets |
1.086
|
0.356 |
[0.106] |
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|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
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TOTAL |
1.790 |
1.147 |
0.426 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
7.830 |
3.403 |
2.592 |
|
|
Other Income |
0.004 |
0.007 |
0.007 |
|
|
Total Income |
7.834 |
3.410 |
2.599 |
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|
|
|
|
|
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|
Profit/(Loss) Before Tax |
0.688 |
0.317 |
0.207 |
|
|
Provision for Taxation |
0.123 |
0.015 |
0.000 |
|
|
Profit/(Loss) After Tax |
0.565 |
0.301 |
0.207 |
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Imports : |
|
|
|
|
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|
Raw Materials |
3.887 |
1.781 |
1.379 |
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Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
3.593 |
1.731 |
1.365 |
|
|
Labour Charges Paid |
2.237 |
0.334 |
0.297 |
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|
Transport and Octroi |
0.037 |
0.034 |
0.026 |
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|
Salary and Wages |
0.397 |
0.413 |
0.282 |
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|
Bank Charges and Interest |
0.001 |
0.000 |
0.000 |
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|
Labour Welfare Expenses |
0.020 |
0.012 |
0.011 |
|
|
Legal and Professional |
0.024 |
0.008 |
0.004 |
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|
Sales Tax Paid |
0.119 |
0.191 |
0.185 |
|
|
Shop Rent |
0.072 |
0.069 |
0.069 |
|
|
Printing and Stationary |
0.009 |
0.003 |
0.002 |
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|
Travelling and Petrol |
0.092 |
0.039 |
0.027 |
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|
Repairs and Maint |
0.046 |
0.026 |
0.010 |
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|
Postage and Telephone |
0.020 |
0.040 |
0.009 |
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|
Electricity Expenses |
0.025 |
0.025 |
0.024 |
|
|
Shop Expenses |
0.036 |
0.015 |
0.010 |
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|
Depreciation & Amortization |
0.120 |
0.108 |
0.056 |
|
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Other Expenses |
0.298 |
0.044 |
0.014 |
|
Total Expenditure |
7.146 |
3.092 |
2.391 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
7.21
|
8.83 |
7.96 |
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|
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|
Net Profit Margin (PBT/Sales) |
(%) |
8.79
|
9.32 |
7.99 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
30.42
|
25.44 |
31.75 |
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.52
|
0.43 |
0.57 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.79
|
0.84 |
1.07 |
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Current Ratio (Current Asset/Current Liability) |
|
2.89
|
2.75 |
0.67 |
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCE
M. S. Naik [Proprietor Venus ENT]
Mobile : 937134030
Chandrakant Kamble [Proprietor Balaji Engineering]
Mobile : 9890276952
DETAILS OF FIXED
ASSETS
Land and Building
Plant and Machinery Rs. 0.519 million
Furniture and Fixture 0.025 Million
Other Assets Rs. 0.054 Millions
PERSONAL ASSETS OF
THE PROPRIETOR
|
Description of
the Assets owned by them |
Amount in
Millions |
|
FDR |
0.110 |
|
PPF |
0.020 |
|
Insurance Policy [SV] |
0.025 |
REVIEW OF BANK
STATEMENT FOR THE LAST SIX MONTHS
|
Number of Credit / Debits, month-wise |
|
||||||||
|
Month-wise Credits into the Account [Block credits and bounces /
reversals to be ignored] |
Jan -08 to Jun 08 Debits : Rs. 5.601 Millions Credit : Rs. 5.336 Millions |
||||||||
|
Cheque Bounces |
No |
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Evidence of servicing existing debt obligations |
-- |
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Line Utilization – any evidence of perennial overdrawing |
No |
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Evidence of statutory dues being paid on time |
VAT Payment |
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PF and employee related |
NA |
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Municipal and Corporation Taxes |
NA |
||||||||
|
Last utility payment made [electricity] |
|
PERFORMANCE OF THE
UNIT DURING THE CURRENT YEAR [Rs in Millions]
|
Month |
Sales |
Purchased |
|
April – 2008 |
1.005 |
0.671 |
|
May – 2008 |
0.740 |
0.509 |
|
June - 2008 |
0.389 |
0.098 |
|
Total |
2.134 |
1.278 |
PROJECTIONS OF
PERFORMANCE, PROFITABILITY AND REPAYMENT
|
PARTICULARS |
1ST
YEAR 2008-09 |
2ND
YEAR 2009-10 |
3RD
YEAR 2010-11 |
4TH
YEAR 2011-12 |
5TH
YEAR 2012-13 |
|
|
Projected |
||||
|
Production during the year [quantity] % age utilization of installed
capacity |
|
|
|
|
|
|
Sales |
10.000 |
12.000 |
14.400 |
16.500 |
18.500 |
|
Sales including all miscellaneous receipts |
-- |
-- |
-- |
-- |
-- |
|
Less : Excise |
-- |
-- |
-- |
-- |
-- |
|
Net sales |
10.000 |
12.000 |
14.400 |
16.500 |
18.500 |
|
|
|
|
|
|
|
|
Cost of production |
|
|
|
|
|
|
|
|
|
|
|
|
|
Raw Material Consumed |
6.650 |
7.200 |
8.640 |
9.900 |
11.100 |
|
Power and Fuel |
0.500 |
0.600 |
0.720 |
0.825 |
0.925 |
|
Direct Labour and Wages |
1.750 |
2.100 |
2.520 |
2.888 |
3.238 |
|
Consumable Stores |
0.200 |
0.240 |
0.288 |
0.330 |
0.370 |
|
Repairs and maintenance |
-- |
-- |
-- |
-- |
-- |
|
Other Manufacturing Expenses |
-- |
-- |
-- |
-- |
-- |
|
Depreciation / Development Rebate Reserve |
0.215 |
0.182 |
0.155 |
0.131 |
0.111 |
|
Total cost of production |
9.315 |
10.322 |
12.323 |
14.074 |
15.744 |
|
Add : Opening Stock-in-process and finished goods |
0.410 |
1.450 |
1.668 |
1.918 |
2.205 |
|
Deduct : Closing Stock-in-process and finished goods |
1.450 |
1.668 |
1.918 |
2.205 |
2.536 |
|
Cost of Sales |
8.275 |
10.105 |
12.073 |
13.786 |
15.413 |
|
Gross Profit |
1.725 |
1.895 |
2.327 |
2.714 |
3.087 |
|
Interest on |
|
|
|
|
|
|
Term Loans |
0.073 |
0.057 |
0.040 |
0.024 |
0.008 |
|
Working Capital |
0.175 |
0.175 |
0.175 |
0.175 |
0.175 |
|
Other Loans, if any |
|
|
|
|
|
|
Selling, General and Administrative Expenses |
0.700 |
0.825 |
0.925 |
1.150 |
1.350 |
|
Profit before Taxation |
0.777 |
0.839 |
1.187 |
1.305 |
1.554 |
|
Provision for Taxes |
0.223 |
0.252 |
0.356 |
0.409 |
0.466 |
|
Net profit |
0.544 |
0.587 |
0.831 |
0.955 |
1.088 |
|
Depreciation added back |
0.215 |
0.182 |
0.155 |
0.131 |
0.111 |
|
Net Cash Accruals |
0.759 |
0.769 |
0.986 |
1.087 |
1.199 |
|
Repayment obligation |
|
|
|
|
|
|
Towards Term Loan |
0.125 |
0.125 |
0.125 |
0.125 |
0.123 |
|
Towards other Loans |
-- |
-- |
-- |
-- |
-- |
|
Debt Services Ratio |
6.00 |
6.00 |
7.8 |
8.69 |
9.75 |
|
|
|
|
|
|
|
|
Material Consumption Ratio |
0.56 |
0.58 |
0.58 |
0.58 |
0.58 |
|
Gross Profit Ratio |
17 |
16 |
16 |
16 |
17 |
CASH FLOW
STATEMENT
|
PARTICULARS |
1ST
YEAR |
2ND
YEAR |
3RD
YEAR |
4TH
YEAR |
5TH
YEAR |
|
|
Projected |
||||
|
SOURCES OF FUNDS
|
|
|
|
|
|
|
Cash Accruals |
0.850 |
0.896 |
1.227 |
1.389 |
1.562 |
|
Increase in share capital / equity / preference |
-- |
-- |
-- |
-- |
-- |
|
Depreciation |
0.215 |
0.182 |
0.155 |
0.131 |
0.111 |
|
Increase in long term loans / debentures |
-- |
-- |
-- |
-- |
-- |
|
Increase in deferred payment facilities |
-- |
-- |
-- |
-- |
-- |
|
Decrease in unsecured loans / deposit |
|
|
|
|
|
|
Increase in bank borrowings for working capital |
|
|
|
|
|
|
Sales of fixed assets / investments |
-- |
-- |
-- |
-- |
-- |
|
Others |
0.200 |
0.165 |
0.275 |
0.340 |
0.350 |
|
|
|
|
|
|
|
|
DISPOSITION OF
FUNDS |
|
|
|
|
|
|
Preliminary and Pre-operative Expenses |
-- |
-- |
-- |
-- |
-- |
|
Increase in Capital Expenditure |
-- |
-- |
-- |
-- |
-- |
|
Increase in Current Assets |
1.040 |
0.218 |
0.250 |
0.288 |
0.331 |
|
Inventories |
0.852 |
0.898 |
0.350 |
0.306 |
0.292 |
|
Others |
|
|
|
|
|
|
Decrease in long term loans / debentures |
0.125 |
0.125 |
0.125 |
0.125 |
0.123 |
|
Decrease in deferred payment facilities |
|
|
|
|
|
|
Increase in investments |
0.073 |
0.057 |
0.040 |
0.024 |
0.008 |
|
Interest |
|
|
|
|
|
|
Taxation |
0.233 |
0.252 |
0.356 |
0.409 |
0.466 |
|
Dividend [amount and rate] |
0.150 |
0.150 |
0.350 |
0.400 |
0.450 |
|
Other expenses [Specify] |
|
|
|
|
|
|
Total Disposition |
3.303 |
1.700 |
1.471 |
1.552 |
1.670 |
|
|
|
|
|
|
|
|
OPENING BALANCE |
0.617 |
0.552 |
1.009 |
1.195 |
1.503 |
|
NETSURPLUS |
[0.065] |
0.457 |
0.186 |
0.308 |
0.353 |
FUNDS FLOW STATEMENT
|
PARTICULARS |
1ST
YEAR 2008-09 |
2ND
YEAR 2009-10 |
3RD
YEAR 2010-11 |
4TH
YEAR 2011-12 |
5TH
YEAR 2012-13 |
|
|
Projected |
||||
|
|
|
||||
|
NET SALES |
10.000 |
12.000 |
14.400 |
16.500 |
18.500 |
|
|
|
|
|
|
|
|
SOURCES OF FUNDS |
|
|
|
|
|
|
Deprecation |
0.215 |
0.182 |
0.155 |
0.131 |
0.111 |
|
Pre – Tax Profit |
0.777 |
0.839 |
1.187 |
1.365 |
1.554 |
|
Increase n Promoters Contribution |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase in Term Loan |
0.623 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase in Working Capital |
1.350 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase in Sundry Creditors |
0.075 |
0.090 |
0.125 |
0.165 |
0.200 |
|
Increase in Other Current
Liabilities |
0.125 |
0.075 |
0.150 |
0.175 |
0.150 |
|
|
|
|
|
|
|
|
TOTAL SOURCE |
3.165 |
1.186 |
1.617 |
1.836 |
2.015 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase in Fixed Assets |
0.830 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Increase in Inventory |
1.040 |
0.218 |
0.250 |
0.288 |
0.331 |
|
Increase in Book Debts |
0.852 |
0.898 |
0.350 |
0.306 |
0.292 |
|
|
|
|
|
|
|
|
REPAYMENT OF TERM LOAN |
0.125 |
0.125 |
0.125 |
0.125 |
0.125 |
|
|
|
|
|
|
|
|
Decrease in Current Liabilities |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Income Tax Payment |
0.233 |
0.252 |
0.356 |
0.409 |
0.466 |
|
Drawing / Withdrawals |
0.150 |
0.150 |
0.350 |
0.400 |
0.450 |
|
|
|
|
|
|
|
|
TOTAL OUTLAY |
3.231 |
1.642 |
1.431 |
1.528 |
1.662 |
|
Surplus / Deficit |
[0.065] |
[0.456] |
0.186 |
0.308 |
0.354 |
|
Opening Cash Balance |
0.617 |
0.552 |
0.096 |
0.281 |
0.589 |
|
Closing Cash Balance |
0.552 |
0.096 |
0.281 |
0.589 |
0.943 |
PROJECTED BALANCE SHEET
|
PARTICULARS |
1ST
YEAR 2008-09 |
2ND
YEAR 2009-10 |
3RD
YEAR 2010-11 |
4TH
YEAR 2011-12 |
5TH
YEAR 2012-13 |
|
|
Projected |
||||
|
ASSETS SIDE |
|
|
|
|
|
|
FIXED ASSETS |
1.213 |
1.031 |
0.876 |
0.745 |
0.634 |
|
INVESTMENTS |
0.134 |
0.134 |
0.134 |
0.134 |
0.134 |
|
CURRENT ASSETS AND LOANS AND ADVANCES |
|
|
|
|
|
|
CLOSING STOCK |
1.450 |
1.668 |
1.918 |
2.205 |
2.536 |
|
SUNDRY DEBTORS |
1.458 |
2.356 |
2.706 |
3.012 |
3.304 |
|
|
|
|
|
|
|
|
CASH AND BANK BALANCE |
0.552 |
0.096 |
0.281 |
0.589 |
0.943 |
|
|
|
|
|
|
|
|
Total |
4.807 |
5.284 |
5.915 |
6.686 |
7.551 |
|
|
|
|
|
|
|
|
Liabilities side |
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital account |
|
|
|
|
|
|
Opening balance |
1.322 |
1.716 |
2.153 |
2.634 |
3.189 |
|
Add : net profit for the year |
0.777 |
0.839 |
1.187 |
1.365 |
1.554 |
|
|
2.099 |
2.555 |
3.340 |
3.999 |
4.743 |
|
Less : income tax payment |
0.233 |
0.252 |
0.356 |
0.409 |
0.466 |
|
Less : appropriations |
0.150 |
0.150 |
0.350 |
0.400 |
0.450 |
|
Balance |
1.716 |
2.153 |
2.634 |
3.189 |
3.827 |
|
Secured loan |
|
|
|
|
|
|
|
|
|
|
|
|
|
Term loan [new] |
0.498 |
0.373 |
0.248 |
0.123 |
0.000 |
|
Working capital loan |
1.350 |
1.350 |
1.350 |
1.350 |
1.350 |
|
|
|
|
|
|
|
|
Unsecured loans |
0.468 |
0.468 |
0.468 |
0.468 |
0.468 |
|
|
|
|
|
|
|
|
Current liabilities and provisions |
|
|
|
|
|
|
Sundry creditors |
0.650 |
0.740 |
0.865 |
1.030 |
1.230 |
|
Others current liabilities |
0.125 |
0.200 |
0.350 |
0.525 |
0.675 |
|
|
|
|
|
|
|
|
Total |
4.807 |
5.284 |
5.915 |
6.685 |
7.550 |
|
|
|
|
|
|
|
|
Current Ratio |
4.46 |
4.38 |
4.04 |
3.73 |
3.56 |
CONTACT PERSONS
Mr. Shankar Halasagi
Mobile No. : 9326738884
Email : shankar_halasagi@yahoo.co.in
Mr. Mallikarjun Alagi
Mobile No.: 9326738883
Email : mallikarjunalagi@yahoo.com
PROMOTERS
Mr. Mallikarjun Arun Alagi
It trained from NTTF and has an experience of
about 20 years in the field. Has developed Press Tools and Mould for many type
of applications like Automobile Industry, Electrical, Consumer Electronics,
etc. The promoter has worked in Malaysia and has closely worked with companies
like Philips, Audio, Philips Sound Systems VDO, Yano Electronics, Lemtronics,
Bosch Power Tools, Konica Minolta, Polar Twin Advance, Brady Technologies,
Raymarine Limited etc.
Mr. Shankar Halasagi
Is trained from NTTF and has as experience of
about 20 years in the field. Has developed Press Tools and Rubber Moulds for
many type of applications like Automobile Industry, Electrical, Consumer
Electronics, etc.
FACILITIES INSTALLED AT THE PREMISES
DESIGN
They have installed AUTOCAD 2004 Design
software
LIST OF MACHINERY
|
MACHINE |
MODEL |
MAKE |
CAPACITY |
|
Air Compressor |
2HP |
KNC |
|
|
Mechanical Press with pneumatic feeder and uncoiler |
‘C’ Frame |
Digvijay |
30T [With Auto feeder and Uncoiler] |
|
Mechanical press with Pneumatic Feeder and Uncoiler |
‘C’ Frame |
Union |
20 T [Inclinable BED] |
|
Mechanical press with Pneumatic Feeder and Uncoiler |
‘C’ Frame |
Union |
30T [Inclinable BED] |
|
Mechanical press with Pneumatic Feeder and Uncoiler |
‘C’ Frame |
PGS |
50 T [Inclinable BED] |
INSPECTION EQUIPMENTS
Surface Plate [Granite 600 x 600mm] 1
No.
Height Gauge [300 mm] 2
Nos.
Micrometers 0-100 1
set
Venire Calipers 6
Nos.
Plunger Dial Gauge 1
No.
Universal Dial Gauge 1
Nos.
Profile Projector [Proposed] 1
Nos.
QUALITY SYSTEMS
ISO 9001 : 2000 Certified by TUV, Certificate
registration No. 99100 02101
FUTURE PLANS
- Increase production facilities : Add high speed presses in the range
of 20 TON and 100 TON. By year 2008-2009.
- Equip Tool Room with M1TR Milling Machine, by year 2008-2009 and CNC
wire cut machine by year 2009-2010.
- Equip quality control dept with profile projector by Year 2008-2009
- To have the own building premises in Pune by year 2009-2010
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.42.78 |
|
UK Pound |
1 |
Rs.85.51 |
|
Euro |
1 |
Rs.67.90 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
NO |
|
--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 |
NO |
|
--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. |
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 |
|