MIRA
INFORM REPORT
|
Report Date : |
07.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
LEKH RAJ MUKESH KUMAR |
|
|
|
|
Registered
Office : |
Danewala Chowk, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
20.12.2010 (Provisional) |
|
|
|
|
Year of
Establishment : |
2001 |
|
|
|
|
PAN No.: [Permanent Account No.] |
BACPR7745C |
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|
|
Legal Form : |
Sole Proprietory Concern. |
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|
|
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Line of Business
: |
Manufacturer and Trader of Wood and Timber. |
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 |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established concern having satisfactory track. Trade
relations are fair. The valuation report and networth statement provided seems
to be acceptable. No complaints have been heard from indirect or market
sources. It would be advisable to take adequate securities while dealing with
the subject. |
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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Lekh Raj |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9878801637 |
|
Date : |
29.03.2011 |
LOCATIONS
|
Registered Office/ Factory : |
Danewala Chowk, |
|
Mobile No.: |
91-9878801637 (Mr. Lekh Raj) |
SOLE PROPRIETOR
|
Name : |
Mr. Lekh Raj |
|
Designation : |
Proprietor |
|
Address : |
H. No. 54, Ward No. 4, Jandi Wala Chowk, Tehsil Malout, District
Muktsar-152107, |
|
Date of Birth/Age : |
04.04.1946 |
|
Qualification : |
B.A |
|
Experience : |
25 Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Wood and Timber. |
GENERAL INFORMATION
|
Customers : |
Retailers and Others ·
Farmers ·
Carpenters
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No. of Employees : |
Approximately 35 |
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Bankers : |
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Facilities : |
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|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shallu Gupta and Company Chartered Accountant |
|
Address : |
Malout |
CAPITAL STRUCTURE
PROPRIETOR’S CAPITAL
ACCOUNT
For the year ending
20.12.2010
(Rs. in Millions)
|
Particulars |
Amount |
Amount |
|
Opening Balance as on 01.04.2010 |
|
0.933 |
|
|
|
|
|
Add: Refund of TDS |
|
0.035 |
|
Provision Profit |
|
0.267 |
|
|
|
1.235 |
|
Less: Withdrawals |
0.148 |
0.148 |
|
|
|
|
|
Closing Balance as on 20.12.2010 |
|
1.087 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
20.12.2010 (Provisional) |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
|
1] Proprietor’s Share Capital |
1.087 |
0.933 |
0.771 |
0.624 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1.087 |
0.933 |
0.771 |
0.624 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
1] Secured Loans |
0.624 |
0.676 |
0.804 |
0.649 |
|
|
2] Unsecured Loans |
1.110 |
1.110 |
0.810 |
0.000 |
|
|
TOTAL BORROWING |
1.734 |
1.786 |
1.614 |
0.649 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
2.821 |
2.719 |
2.385 |
1.273 |
|
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.307 |
0.307 |
0.307 |
0.307 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
|
Inventories |
1.564
|
1.163 |
0.793 |
0.248 |
|
|
Sundry Debtors |
0.906
|
1.125 |
1.271 |
0.682 |
|
|
Cash & Bank Balances |
0.032
|
0.004 |
0.014 |
0.035 |
|
|
Other Current Assets |
0.012
|
0.120 |
0.000 |
0.001 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
2.514
|
2.412 |
2.078 |
0.966 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
|
Sundry Creditors |
0.000
|
0.000 |
0.000 |
0.000 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
0.000 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities |
0.000
|
0.000 |
0.000 |
0.000 |
|
|
Net Current Assets |
2.514
|
2.412 |
2.078 |
0.966 |
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
2.821 |
2.719 |
2.385 |
1.273 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
20.12.2010 (Provisional) |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
Income |
8.930 |
10.678 |
7.567 |
7.297 |
|
|
|
Other Income |
0.159 |
0.147 |
0.103 |
0.077 |
|
|
|
TOTAL |
9.089 |
10.825 |
7.670 |
7.374 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
Cost of Goods Sold |
8.240 |
10.012 |
6.905 |
6.556 |
|
|
|
Stationery Expenses |
0.002 |
0.000 |
0.000 |
0.000 |
|
|
|
Electricity Expenses |
0.112 |
0.110 |
0.097 |
0.086 |
|
|
|
Freight Expenses |
0.130 |
0.123 |
0.116 |
0.110 |
|
|
|
Bank Expenses |
0.004 |
0.003 |
0.007 |
0.006 |
|
|
|
Interest |
0.095 |
0.069 |
0.102 |
0.034 |
|
|
|
Salary Expenses |
0.066 |
0.078 |
0.068 |
0.110 |
|
|
|
Other Expenses |
0.173 |
0.183 |
0.131 |
0.189 |
|
|
|
TOTAL |
8.822 |
10.578 |
7.426 |
7.091 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT |
0.267 |
0.247 |
0.244 |
0.283 |
|
KEY RATIOS
|
PARTICULARS |
|
20.12.2010 (Provisional) |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.94
|
2.28 |
3.18 |
3.84 |
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.99
|
2.31 |
3.22 |
3.88 |
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.46
|
9.08 |
10.23 |
22.23 |
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.26 |
0.32 |
0.45 |
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.60
|
1.91 |
2.09 |
1.04 |
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.00
|
0.00 |
0.00 |
0.00 |
LOCAL AGENCY FURTHER INFORMATION
DUE
DILIGENCE REPORT
|
BUSINESS
ACTIVITIES |
|
|
Products |
Wood and Timber |
|
|
|
|
Details of Fixed Assets |
As on 31.03.2010 |
|
·
Land and Building ·
Plant and Machinery ·
Furniture and Fixture ·
Other Assets |
-- Rs. 0.306 Million -- Rs. 0.120 Million VAT (Re Coverable) Total: Rs. 0.426 Million |
PERSONAL ASSETS OF
THE PROPRIETOR
|
Description of
the Assets owned by them |
Amount (Rs.
in Millions) |
|
Immovable Property |
4.474 |
|
Movable Property |
0.233 |
FINANCIAL ANALYSIS
|
Last available financial Statement (Year ended dd/mm/yyyy) |
31.12.2010 |
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Advance Taxes Paid (VAT) |
0.038 Million |
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Stock Position (at last month end) 31.12.2010 |
Rs. 1.564
Millions |
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Drawing Power |
Rs. 0.650
Million |
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|
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|
Whether the critical ratios conforms to the bench mark stipulation |
|
REVIEW OF BANK STATEMENT
FOR THE LAST SIX MONTHS
|
Number of Credit/ Debit, month-wise |
4 to 5 entries |
|
|
|
|
PF and Employee Related |
Yes |
|
|
|
|
Municipal and Corporation Taxes |
Yes |
ACTIVITY LEVELS AT
THE TIME OF VISIT
|
Level of Activity (Description of Proudution/ Delivery/ Customers |
Production and Sales |
FOR MANUFACTURING
ENTITIES/ FACTORY SITE(S):
|
Location of Plot, accessibility, proximity to other units |
Yes |
|
|
|
|
Principal raw material(s) and Sources |
Wood and Timber |
|
|
|
|
Manufacturing Process |
Yes |
|
|
|
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Power: Connected load and back up availability |
20 K.W |
|
|
|
|
Inventory/ WIP/ Finished Goods at the site |
Yes |
|
|
|
|
Storage/ Security/ Perish ability/ susceptibility to fire and weather |
Yes (Available) |
|
|
|
|
Workers/ |
Yes |
OTHER PARTICULARS:
|
|
Purchase |
Sales |
|
Month (During the current year) |
Rs. 1.000 Million |
Rs. 1.200 Million |
SWOT ANALYSIS OF
THE UNIT:
|
STRENGTHS No other repurted firm in the area |
WEAKNESS No. |
|
|
|
|
OPPORTUNITIES Carpenters, Local Suppliers and Furniture houses are demanding more wood and timber |
THREATS Other can complete this firm |
------------------------------------------------------------------------------------------------------------------------------
TO WHOM SO EVER IT MAY
CONCERN
This is to certify that the Net Worth Mr. Lekh
Raj S/o Sh. Piara Lal, Resident at Street No. 21, Jandi Wala Chowk, Malout
District Muktsar (
|
Particulars |
Amount Rs. in Millions |
|
IMMOVABLE ASSETS |
|
|
Land Open Plot Measuring 60’ X 225’ vide sale deed
No. 784 Dated 01.06.1992, Sale Deed No. 498
Dated 04.05.2007, Sale Deed No. 3485 Dated 17.01.2011 at G.T. Road,
Near Dera Bias, Malout, District Muktsar |
4.474 |
|
Residential House One Residential House at Street No. 21,
Jandi Wala Chowk, Malout |
2.000 |
|
Movable Properties |
|
|
Cash and Bank Balance |
0.059 |
|
|
|
|
Investments |
|
|
Gold |
0.236 |
|
Silver |
0.005 |
|
|
0.241 |
|
|
|
|
Total |
6.774 |
|
|
|
|
Less: Liabilities with Oriental Bank of
Commerce |
0.650 |
|
|
|
|
|
6.124 |
------------------------------------------------------------------------------------------------------------------------------
PROPERTY VALUATION REPORT
|
GENERAL INFORMATION |
|
|
Name of the Party/ Purchaser and Address (with door No. Survey No.) |
Lekh Raj Mukesh Kumar, Village Danewala,
G.T.Road, Near Dera Bias, Tehsil Malout, District Mukatsar |
|
|
|
|
Name /s
of the reported owner names of person in whose name property
registered and address |
Mr. Lekh Raj s/o Mr. Piara Lal, Village
Danewala, |
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|
Purpose of Valuation |
For Bank Finance (Corporation Bank) |
|
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|
|
Date of Inspection |
22.01.2011 |
|
|
|
|
Date of Valuation |
24.01.2011 |
|
|
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|
Situation / Location / Brief Description of
the Land/ Site and brief description of the building |
G.T. Roadl, Near Dera Bias, Malout,
District, Mukatsar, Khatta No. : 6/16, M ushtil and Killa No. 98/6 (8-16),
Khatta No. 17/17, Mushtil and Killa No. 98//5(8-0), Jamabandi Year : 2000 – 01 and 2005-06 |
|
|
|
|
Boundaries of the property |
As per Site North: 225’ 0 P/o Pawan Kumar s/o Sher Chand South: 225’0 Front Shop of Rama Kant s/o Ram
Krishan and Back Side shop of Naseeb Singh s/o Harbans Singh East: 60’ 0 Street. West: 60’ 0 G.T. Road |
|
|
|
|
Assuring the entire property is let out the
probable monthly rent an advance building rent. |
Freehold Property. |
|
|
|
|
Whether building plan has been approved. |
Plot only with office building |
|
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|
VALUATION
DETAILS |
|
|
LAND |
|
|
The Total Area (Extent) of Site/ Land |
60’ X 225’0 = 13500 sft. As per registries: 2- Kanal 8.5 Marlas=
2.425 Kanal In Local Units: 13500 sft = 1500 syd In sq.mtrs : 1254.65 sqm. |
|
|
|
|
Description of Site/ Land |
|
|
a) Character of Locality |
Front Commercial Rear Residential So Mixed
Area |
|
|
|
|
b) Classification |
Middle Class |
|
|
|
|
c) Development of Surrounding |
Developing |
|
|
|
|
d) IS locality Subjected to frequent
flooding |
No. |
|
|
|
|
e) Feasibility to the civil amenities like
school, |
Near by Available |
|
|
|
|
f) Shape of the Land |
Rectangular |
|
|
|
|
g) Type of use to which it can put can |
Any Commercial unit |
|
|
|
|
h) Any other restriction to usage |
No. |
|
|
|
|
i) Nature of right, lease hold free hold |
Free hold |
|
|
|
|
j) Road Facility |
Available |
|
|
|
|
k) Is it a corner Plot |
Yes |
|
|
|
|
l) Water Supply/ Potentiality |
Yes |
|
|
|
|
m) Underground Sewerage System |
Yes |
|
|
|
|
n) Any other Essential / Social issue which
may affect the value |
Nil |
|
|
|
|
General Remarks |
Not fully/ properly demarcated |
|
|
|
|
Prevailing unit market rate |
Rs. 2.000 Millions /- per kanal |
|
|
|
|
Prescribed rate by local auth |
Rs. 0.720/- per kanal |
|
|
|
|
Unit rate adipted in this valuation |
Rs. 1.825 Millions/- per Kanal |
|
|
|
|
Valuate of Site/ Land |
2.425 X 1.825 Millions= Rs. 4.426 Millions |
|
|
|
|
BUILDING |
|
|
Type of Construction |
Load Bearing |
|
|
|
|
Quality of Construction |
B- Class |
|
|
|
|
Appearance of the Building |
|
|
|
|
|
Number of Floors |
Single |
|
|
|
|
Maintenance of Building |
Good |
|
|
|
|
Description of Building |
Office 12’ X 16’ |
|
|
|
|
a) Foundation |
Strip Footing |
|
b) Superstructure |
Brick in C.S. mortar |
|
c) Roof |
Arch Roof |
|
d) Doors |
Wooden |
|
e) Windows |
Wooden |
|
f) Sanitary fittings |
N.A. |
|
g) Flooring |
Cc |
|
|
|
|
Total Plinth Area |
192 sft. |
|
|
|
|
Year of Construction |
New |
|
|
|
|
Total Life of building estimated (Irrespect of Natural Clamities) |
25 Years |
|
|
|
|
General Remarks |
|
|
|
|
|
Replacement rate of construction with the
existing condition and specification |
250/- per sft. |
|
|
|
|
Replacement Value |
Rs. 0.048 Million |
|
|
|
|
Present value of the property |
Rs. 0.048 Million |
|
|
|
|
TOTAL VALUATION |
|
|
Value of Land |
Rs. 4.426 Millions |
|
|
|
|
Value of Building |
Rs. 0.048 Million |
|
|
|
|
Total Present Market Value |
Rs. 4.474 Millions Say Rs. 4.474 Millions |
|
|
|
|
Present Realizable Value |
Rs. 4.025 Millions |
|
|
|
|
Present Distress Value |
Rs. 3.350 Millions |
------------------------------------------------------------------------------------------------------------------------------
PROJECTED BALANCE SHEET
(Rs. in Millions)
|
Particulars |
31.03.2011 Projected |
31.03.2012 Projected |
|
LIABILITIES |
|
|
|
Capital |
0.934 |
1.112 |
|
Add: Addition |
0.035 |
0.045 |
|
Add: Provision Profits |
0.296 |
0.377 |
|
|
1.265 |
1.534 |
|
Less: Withdrawals |
0.153 |
0.160 |
|
|
1.112 |
1.374 |
|
Secured Loans |
2.500 |
2.500 |
|
Unsecured Loans |
1.110 |
1.400 |
|
Current Liabilities |
0.664 |
0.859 |
|
Total |
5.386 |
6.133 |
|
|
|
|
|
ASSETS |
|
|
|
Fixed Assets |
0.261 |
0.222 |
|
Advances to Suppliers |
1.350 |
1.500 |
|
Closing Stock |
3.750 |
3.800 |
|
Sundry Debtors |
0.020 |
0.510 |
|
Cash and Bank Balances |
0.005 |
0.101 |
|
Total |
5.386 |
6.133 |
PROJECTED TRADING AND
PROFIT AND LOSS ACCOUNT
(Rs. in Millions)
|
Particulars |
31.03.2011 Projected |
31.03.2012 Projected |
|
Sales |
12.000 |
15.000 |
|
Closing Stock: |
3.750 |
3.800 |
|
Total (A) |
15.750 |
18.800 |
|
Opening Stock |
1.163 |
3.750 |
|
Purchase |
13.726 |
13.819 |
|
Total (B) |
14.889 |
17.569 |
|
Gross Profit (A-B) = C |
0.861 |
1.231 |
|
Other Income |
0.175 |
0.230 |
|
Total (D) |
1.036 |
1.461 |
|
Expenses |
|
|
|
Freight Charges |
0.170 |
0.195 |
|
Miscellaneous Expenses |
0.185 |
0.223 |
|
Salary |
0.090 |
0.120 |
|
Electricity Expenses |
0.135 |
0.155 |
|
Interest |
0.115 |
0.312 |
|
Bank Charges |
0.005 |
0.022 |
|
VAT |
0.040 |
0.057 |
|
Total (E) |
0.740 |
1.084 |
|
Net Profit Before Tax (D-E) F |
0.296 |
0.377 |
|
Taxes |
0.015 |
0.020 |
|
Net Profit After Taxes |
0.281 |
0.357 |
(Rs. in Millions)
|
Particulars |
31.03.2011 Projected |
31.03.2012 Projected |
|
Authorised Capital |
0.000 |
0.000 |
|
1. Proprietor’s Capital |
1.112 |
1.374 |
|
2. Reserves and Surplus |
0.000 |
0.000 |
|
3. Intangible Assets |
0.000 |
0.000 |
|
4. Tangible Net Worth ( 1+2+3) |
1.112 |
1.374 |
|
5. Term Loans- Financial Institution |
0.000 |
0.000 |
|
6. Other Term Liabilities |
0.000 |
0.000 |
|
7. Unsecured Loans |
1.110 |
1.400 |
|
8. Total Term Liabilities (5+6+7) |
1.110 |
1.400 |
|
9. Capital Employed (4+8) |
2.222 |
2.774 |
|
10. Net Block |
0.261 |
0.222 |
|
11. Investment in allied/ group concern |
0.000 |
0.000 |
|
12. Investments in others/ Securities |
0.000 |
0.000 |
|
13. NCA |
0.000 |
0.000 |
|
14. Other Non Current Assets |
1.350 |
1.500 |
|
15. Total Non-Current Assets ( 11+12+13+14) |
1.350 |
1.500 |
|
16. Inventory |
3.750 |
3.800 |
|
17. Debtors/ Receivables (Less than 6
Months) * Export Receivables |
0.020 |
0.510 |
|
18. Other current Assets |
0.005 |
0.101 |
|
19. Total Current Assets (16+17+18) |
3.775 |
4.411 |
|
20. Bank Borrowings/ Commercial papers |
2.500 |
2.500 |
|
21. Sundry Creditors (Payable) |
0.664 |
0.859 |
|
22. Other Current Liabilities including term
Loan Installments payable in 12 months |
0.000 |
0.000 |
|
23. Total Current Liabilities (20+21+22) |
3.164 |
3.359 |
|
24. Net Working Capital (19-23) |
0.611 |
1.052 |
|
Total Assets |
5.386 |
6.133 |
|
Total Liabilities |
5.386 |
6.133 |
OPERATIONAL ANALYSIS
(Rs. in Millions)
|
Particulars |
31.03.2011 Projected |
31.03.2012 Projected |
|
Net Sales |
12.000 |
15.000 |
|
Purchases |
13.726 |
13.819 |
|
Other Income |
0.175 |
0.230 |
|
Gross Profit/ Loss |
0.861 |
1.231 |
|
Profit Before Tax/ Loss |
0.296 |
0.377 |
|
Provision for Tax |
0.015 |
0.020 |
|
Profit After Tax/ Loss |
0.281 |
0.357 |
|
Depreciation and other non-cash expenses |
0.046 |
0.039 |
|
Cash Accruals/ Cash Losses |
0.327 |
0.396 |
|
|
|
|
|
RATIO ANALYSIS |
|
|
|
|
|
|
|
Current Ratio (19/23) |
1.19 |
1.31 |
|
Debt Equity Ratio (8/4) |
1.00 |
1.02 |
|
Leverage Ratio (8+23/4) |
3.84 |
3.46 |
|
Net Profit to sales (%) |
2.34 |
2.38 |
|
Return on Tangible net worth (%) |
25.27 |
25.98 |
ASSESSMENT OF WORKING
CAPITAL
(Rs. in Millions)
|
Particulars |
31.03.2011 Projected |
31.03.2012 Projected |
|
1. Raw Material |
100 |
100 |
|
(Representing Days of Consumption) |
0.000 |
0.000 |
|
2. Stock in Process |
0.375 |
3.800 |
|
3. Finished Goods |
0.20 |
12 |
|
4. Receivables |
0.100 |
1.200 |
|
(Days Sales) |
0.005 |
1.01 |
|
5. Other Current Assets |
3.775 |
4.411 |
|
6. Total Current Assets |
0.664 |
0.859 |
|
7. Less Sundry Creditors |
1.800 |
2.300 |
|
(Days Purchase) |
0.000 |
0.000 |
|
8.Other Current Liabilities |
0.664 |
0.859 |
|
9. Total Current Liabilities |
3.111 |
3.552 |
|
10. Working Capital Gap (Item 6- Item 9) |
0.778 |
0.888 |
|
11.
Less 25% margin on WCG (Item 10) |
0.611 |
1.052 |
|
12. Actual/ Projected net WCG |
2.333 |
2.664 |
|
13. Item 10 – Item 11 |
2.500 |
2.500 |
|
14. Item 10 – Item 12 |
2.333 |
2.500 |
COMPUTATION OF LIMIT ON
TURNOVER
(Rs. In Millions)
|
Particulars |
31.03.2011 Projected |
31.03.2012 Projected |
|
A. Annual Turnover as projected by Borrower |
12.000 |
15.000 |
|
B. Turnover accepted by Bank |
12.000 |
15.000 |
|
C. Working Capital Requirements (25% of B) |
3.000 |
3.750 |
|
D. Minimum Margin Required (5% of Sales (B)) |
0.600 |
0.750 |
|
E. Minimum Margin available (CA/CL) |
0.611 |
1.052 |
|
F. Item C Minus Item D |
2.400 |
3.000 |
|
G. Item C minus Item E |
2.389 |
2.698 |
|
H. MPBF (Item F or Item G whichever is
lower( |
2.389 |
2.698 |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market survey
revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.20 |
|
|
1 |
Rs.72.25 |
|
Euro |
1 |
Rs.63.09 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.