MIRA
INFORM REPORT
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Report Date : |
10.01.2011 |
IDENTIFICATION DETAILS
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Name : |
LOKMAT MEDIA LIMITED |
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Formerly Known
As : |
LOKMAT NEWSPAPERS PRIVATE LIMITED |
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Registered Office : |
Mittal Tower, `B’ Wing, 12th Floor, Nariman
Point, Mumbai–400021, |
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Country : |
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Financials (as on) : |
31.05.2009 |
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Date of Incorporation : |
21.06.1973 |
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Com. Reg. No.: |
11 -016613 |
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CIN No.: [Company
Identification No.] |
U99999MH1973PTC016613 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEL00507D NGPL00282C MUML07503G |
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PAN No. : |
AAACL1888J |
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Legal Form : |
A closely held public limited liability company |
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Line of Business : |
Subject is Engaged In Printing And Publishing of
Newspapers. |
RATING & COMMENTS
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MIRA’s Rating : |
A (67) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 7400000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an old
and an established company engaged in printing and publishing of newspapers. Company
is having good track. Financial position of the company appears to be sound.
Trade relations are fair. Business is active. Payments of the company
reported to be regular and as per commitments. The company can be considered good for normal business dealings at usual trade terms and conditions. |
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
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Prasamal Jain |
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Designation : |
Accounts Manager |
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Date : |
10.01.2011 |
LOCATIONS
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Registered Office : |
Mittal Tower, `B’ Wing, 12th Floor, Nariman
Point, Mumbai – 400 021, |
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Tel. No.: |
91-22-22856749 (4 Lines) /
22028211 / 25856749 |
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Fax No.: |
91-22-22028211 |
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E-Mail : |
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Website : |
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Head Office : |
Lokmat Bhavan, Pt. Jawaharlal Nehru Marg, P.O. No. 216, |
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Tel. No.: |
91-712-2523 527 (10 lines) |
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Fax No.: |
91-712-2526 923 / 2445555 |
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E-mail: |
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Business
Representatives: |
Located
at : Kolkata, Ahmedabad, |
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Branches: |
LOKMAT/ LOKMAT SAMACHAR/ LOKMAT TIMES Lokmat Bhavan, Pt. J. Nehru Marg, |
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Tel. No.: |
91-712-2423527 |
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Fax No.: |
91-712-2445555 |
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E-Mail : |
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DAINIK LOKMAT/LOKMAT SAMACHAR/LOKMAT TIMES Lokmat Bhavan, M.I.D.C. Area, |
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Tel. No.: |
91-240-2486601 / 2485301 |
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Fax No.: |
91-240-2484130, 2485723 |
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E-Mail : |
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Mumbai DAINIK LOKMAT Prithvi Park, Near Datta
Mandir, Mumbai-Pune Highway, Sector-30, Sanpada, Navi Mumbai - 400 705, Maharashtra,
India |
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Tel. No.: |
91-22-27686888 /89/ 90 |
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Fax No.: |
91-22-27686845 |
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E-Mail : |
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Pune LOKMAT Lokmat Bhavan, Survey No-34/A, Vadgaon-Khurd, |
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Tel. No.: |
91-20-24393001-06 |
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Fax No.: |
91-20-24393008 |
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E-Mail : |
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DAINIK LOKMAT Lokmat Bhavan, Purnima Apartments, Near |
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Tel. No.: |
91-231-2641707/08/10/14 |
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Fax No.: |
91-231-2641716 |
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E-Mail : |
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Nashik LOKMAT Lokmat Bhavan, B-3, M.I.D.C. Area, Ambad, Nashik - 422
010, |
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Tel. No.: |
91-253-2385465-67 |
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Fax No.: |
91-253-2385293 |
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E-Mail : |
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Solapur DAINIK LOKMAT Lokmat Bhawan, Plot No. A-6/1, Chincholi Industrial
Estate, |
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Tel. No.: |
91-217-2357555-58 |
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Fax No.: |
91-217-2357387 |
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E-Mail : |
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Jalgaon LOKMAT Lokmat Bhavan, C-19, Addl. M.I.D.C. Area, Jalgaon - 425
003, |
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Tel. No.: |
91-257-2273013-17 |
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Fax No.: |
91-257-2273012 |
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E-Mail : |
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Ahmednagar DAINIK LOKMAT Lokmat Bhavan, P.O. Box - 110, Ahmednagar - 414 001, |
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Tel. No.: |
91-241-2429711/2429902 |
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Fax No.: |
91-241-2411707 |
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E-Mail : |
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LOKMAT Lokmat Bhavan, N-01, Phase IV, MIDC Area, |
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Tel. No.: |
91-724-2258921-23 |
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Fax No.: |
91-724-2258663 |
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E-Mail : |
DIRECTORS
As On 21.11.2009
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Name : |
Mr. Vijay Jawaharlal Darda |
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Designation : |
Chairman and Managing Director |
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Address : |
‘Yavatmal House’, Rahate Colony, Pt. J.N. Marg, |
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Date of Birth/Age : |
14.05.1950 |
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Qualification : |
Diploma in Printing Technology |
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Director profile : |
Mr. Darda is the chief visionary at Lokmat spearheading
its growth over the last 35 years. Under his leadership, Lokmat has emerged
as one of the leading media companies in |
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Date of Appointment : |
24.01.1974 |
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Name : |
Mr. Devendra Vijay Darda |
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Designation : |
Director |
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Address : |
Yavatmal House’, Rahate Colony, Pt. J.N. Marg, |
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Date of Birth/Age : |
23.11.1974 |
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Date of Appointment : |
20.05.2002 |
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Name : |
Mr. Rishi Rajendra Darda |
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Designation : |
Whole Time Director |
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Address : |
Lokmat Bhavan, |
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Date of Birth/Age : |
15.12.1978 |
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Date of Appointment : |
01.04.2009 |
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Name : |
Mr. Ramesh Sukhraj Bora |
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Designation : |
Director |
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Address : |
Plot No. 2, Purohit Layout, Ambazari,
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Date of Birth/Age : |
02.11.1939 |
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Date of Appointment : |
01.10.2003 |
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Name : |
Mr. Bharat Karsandas Kapadia |
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Designation : |
Whole Time Director |
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Address : |
103, Oyster Shell, 1st
Floor, Mumbai-400049, |
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Date of Birth/Age : |
07.12.1952 |
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Date of Appointment : |
01.01.2009 |
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Name : |
Mr. Karan Darda |
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Designation : |
Director |
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Address : |
Lokmat Bhavan, |
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Date of Birth/Age : |
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Date of Appointment : |
01.04.2009 |
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Name : |
Mrs. Jyotsna Vijay Darda |
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Designation : |
Director |
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Address : |
‘Yavatmal House’, Rahate
Colony, Pt. J.N. Marg, |
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Date of Birth/Age : |
18.06.1952 |
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Date of Appointment : |
07.06.1993 |
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Date of Ceasing: |
10.09.2010 |
KEY EXECUTIVES
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Name : |
Mrs. Nilesh Jain |
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Designation : |
Partaking Company Secretary |
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Address: |
Durgaia Raod, Sadar, |
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Name : |
Mr. Prasamal Jain |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 21.11.2009
|
Names of Shareholders |
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No. of Shares |
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Vijay J. Darda |
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288861 |
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Jyotsna V. Darda |
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172350 |
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Rajendra J. Darda |
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342211 |
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Devendra Darda |
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115000 |
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Ashoodevi Darda |
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78000 |
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Rishi Darda |
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78000 |
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Karan Darda |
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78000 |
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TOTAL |
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1152422 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.11.2009
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is Engaged In Printing And Publishing of Newspapers. |
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Imports : |
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Products : |
v
Raw Material v
Components |
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Countries : |
·
·
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Terms : |
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Selling : |
L/C, Cash, Credit: 30/60/90 Days |
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Purchasing : |
L/C, Cash, Credit: 30/60/90 Days |
GENERAL INFORMATION
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Suppliers : |
Ř
Bhandari Auto Limited Ř
Carrier Aircon Limited, Pune, Ř
C-Net Solutions Limited Ř
Damanganga Papers Limited, Vapi, Ř
Ř
International computers Limited Ř
Jay Rapid Roller Limited, Nashik Ř
Mahavir Commercial Company Private
Limited Ř
Manugraph Industries Limited Ř
Many Enterprises Limited Ř
Mayar H. K. Limited Ř
Micropro Software Solutions Limited Ř
Multitech Computers Limited Ř
Newsprint Sales Corporation Ř
Newsprint Sales Corporation Ř
Sangal Paper Limited Ř
Simplex Mills Company Limited Ř
Sinhar Mars Pulp and Paper Limited Ř
State Trading Corporation of Ř
The printer House, Ř
Vidarbh Paper Mills Ř
Yash Paper, |
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Customers : |
Ř Corporate Ř End Users and
OEM’s |
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No. of Employees : |
1250 (approximately) |
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Bankers : |
Ř
Bank of Ř
The Tirupati Urbam Co-operative Bank
Limited, Mumbai Ř
State Bank of Ř
Bank of Ř
Bank of Ř
Bank of Ř
Bank of Ř
Bank of Ř
Bank of Ř
Bank of Ř
Bank of Ř
Bank of Ř
Bank of Ř
Bank of Ř
Bank of Ř
Bank of Ř
Bank of Ř
HDFC Bank Limited, HDFC Bank House, Senapati
Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India Ř
Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M. M. Jain and Associates Chartered Accountants |
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Address : |
Shri Mohini, Kingsway, |
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Subsidiaries: |
Airwave Entertainment Private Limited U92190MH2007PTC172911 Prithvi Prakashan Private Limited U22120MH1985PTC035425 |
CAPITAL STRUCTURE
As on 21.11.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs.10/- Each |
Rs.15.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1152422 |
Equity Shares |
Rs.10/- Each |
Rs. 11.524
Millions |
As on 30.05.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs.10/- Each |
Rs.15.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
684822 |
Equity Shares |
Rs.10/- Each |
Rs.6.848
Millions |
Note:
Issued, Subscribed and paid up capital of Rs.
6.848 Millions includes Bonus shares of Rs. 4.000 Millions allotted on 6th
July, 1992 by Capitalisation of General reserve.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.05.2009 |
31.05.2008 |
31.05.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
6.848 |
6.848 |
5.746 |
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2] Share Application Money |
4.676 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1855.486 |
899.716 |
668.679 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1867.010 |
906.564 |
674.425 |
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LOAN FUNDS |
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1] Secured Loans |
407.027 |
456.315 |
235.475 |
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2] Unsecured Loans |
9.500 |
0.000 |
0.000 |
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TOTAL BORROWING |
416.527 |
456.315 |
235.475 |
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DEFERRED TAX LIABILITIES |
30.749 |
30.514 |
28.579 |
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TOTAL |
2314.286 |
1393.393 |
938.479 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1158.176 |
525.769 |
435.088 |
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Capital work-in-progress |
24.691 |
2.333 |
0.812 |
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INVESTMENT |
323.965 |
87.201 |
0.855 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
223.905
|
158.599
|
123.263
|
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Sundry Debtors |
526.065
|
479.485
|
362.940
|
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Cash & Bank Balances |
332.486
|
258.145
|
206.535
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Other Current Assets |
22.604
|
15.395
|
8.412
|
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Loans & Advances |
466.125
|
417.972
|
216.519
|
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Total
Current Assets |
1571.185
|
1329.596
|
917.669
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
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Sundry Creditors |
107.750
|
25.945
|
48.178
|
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Other Current Liabilities |
290.841
|
308.971
|
244.362
|
|
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Provisions |
365.140
|
216.590
|
123.405
|
|
Total
Current Liabilities |
763.731
|
551.506
|
415.945
|
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Net Current Assets |
807.454
|
778.090
|
501.724
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
2314.286 |
1393.393 |
938.479 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.05.2009 |
31.05.2008 |
31.05.2007 |
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SALES |
|
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|
|
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|
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|
2322.692 |
1683.663 |
1413.632 |
|
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Other Income |
|
119.621 |
73.919 |
|
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TOTAL (A) |
2322.692 |
1803.284 |
1487.551 |
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Less |
EXPENSES |
|
|
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Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
1254.359 |
1143.008 |
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Advertising Expenses |
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TOTAL (B) |
1621.641 |
1254.359 |
1143.008 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
701.051 |
548.925 |
344.543 |
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Less |
FINANCIAL
EXPENSES (D) |
49.027 |
35.652 |
26.866 |
|
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|
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|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
652.024 |
513.273 |
317.677 |
|
|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
95.631 |
65.570 |
64.793 |
|
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|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
556.393 |
447.703 |
252.884 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
148.784 |
124.520 |
72.190 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
407.609 |
323.183 |
180.694 |
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3.119 |
4.042 |
5.271 |
|
|
|
Transfer
to Revaluation Reserve |
0.007 |
0.008 |
0.010 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend paid |
0.000 |
80.444 |
36.774 |
|
|
|
Corporate Tax on Interim Dividend |
0.000 |
13.670 |
5.158 |
|
|
|
Transfer to General Reserve |
60.000 |
230.000 |
140.000 |
|
|
BALANCE CARRIED
TO THE B/S |
350.735 |
3.119 |
4.043 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
595.20 |
471.92 |
--- |
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Particulars |
|
|
31.05.2010 |
|
Sales Turnover (approximately) |
|
|
2500.000 |
|
|
|
|
|
Expected Sales (2010-2011): Rs. 3000.000 Millions
KEY RATIOS
|
PARTICULARS |
|
31.05.2009 |
31.05.2008 |
31.05.2007 |
|
|
|
|
|
|
|
PAT / Total Income |
(%) |
17.55
|
17.92
|
12.15
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
26.59
|
17.88
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.39
|
24.13
|
18.79
|
|
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.49
|
0.38
|
|
|
|
|
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
0.63
|
1.11
|
0.96
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.06
|
2.41
|
2.20
|
LOCAL AGENCY FURTHER INFORMATION
The Details of Sundry
Creditors:
Rs.
In Millions
|
Particulars |
31.05.2009 |
31.05.2008 |
31.05.2007 |
|
Sundry Creditors |
107.750
|
25.945
|
48.178
|
Financial
Performance:
The company has posted another year of impressive results testifying to the
robustness of the corporate strategy of creating multiple drivers of growth.
The company has recorded a Net Profit after tax Rs. 407.609 Millions during the
year as against a Net Profit of Rs. 323.183 Millions during the previous
financial year. In the years to come the company is looking forward to give to
its valuable shareholders continues growth and profits.
Trade References:
Ř International Computer Limited
Ř State Trading Corporation of
Bankers Charges
Report as per Registry
|
Corporate identity
number of the company |
U99999MH1973PTC016613 |
|
Name of the
company |
LOKMAT NEWSPAPERS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Mittal Tower, `B’ Wing, 12th Floor, Nariman Point,
Mumbai – 400 021, |
|
This form is for |
Modification of
Charge |
|
Charge
identification number of the charge to be modified |
10221777 |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
Bank of |
|
Nature of
instrument creating charge |
Supplemental Deed
of Hypothecation |
|
Date of
instrument Creating the charge |
14.10.2010 |
|
Amount secured by
the charge |
Rs. 334.800
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Term Loan I and
II : At 4% below BPLR, Present effective rate 8.50% p.a. with monthly rests. Terms of
Repayment Term Loan I and
II: Repayable in 10 half yearly installments of Rs. 33.400 Millions,
commencing form December 2010(Last Installments is of Rs. 34.200 Millions) Margin Term Loan : 25% Extent and
Operation of the charge The charge operate
as security on the plant and machinery of the company |
|
Short particulars
of the property charged |
Hypothecation of
plant and machinery proposed to be purchased out of this term loan. |
|
Date of
instrument modifying the charge |
23.04.2010 |
|
Particulars of
the present modification |
By present
modification the bank has sanctioned the new term loan of Rs. 90.000
Millions. Thus Total Term Loan facilities stand at Rs. 334.800 Millions. The
Bifurcation of credit facility are as under: Term Loan I: Rs.
244.800 Millions Term Loan II: Rs.
90.000 Millions Total : Rs.
334.800 Millions. |
|
This Form is for |
Modification of charge |
|
Charge
identification number of the charge to be modified |
10049945 |
|
Corporate identity
number of the company |
U99999MH1973PTC016613 |
|
Name of the
company |
LOKMAT NEWSPAPERS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Mittal Tower, `B’ Wing, 12th Floor, Nariman Point,
Mumbai – 400 021, |
|
Type of Charge |
Movable Property Floating Charge |
|
Particular of
charge holder |
Bank of |
|
Nature of description
of the instrument creating or modifying the charge |
Supplemental Deed
of Hypothecation |
|
Date of
instrument Creating the charge |
03.03.2008 |
|
Amount secured by
the charge |
Rs. 80.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
[a] Rate of
interest Term Loan III :
1.50% below BPLR Minimum 11.25%p.a. Term Loan IV :
1.75% below BPLR minimum 11.00% p.a. [b] Terms of
repayment Term Loan III : Repayment
in 5 annual installment of Rs.1.500 millions commencing from April, 2008. Term Loan IV : 20
quarterly installment of Rs.2.125 millions commencing from Sept, 208 [c] Margin Term Loan :25% [d] Extent and
operation of the charge The charge operate
as a security on the immovable properties of the company |
|
Short particulars
of the property charged |
Hypothecation of
all movable tangible assets including newsprint stocks primary inks stores
and consumable and hypothecation of plant and machinery to purchased put of
Bank finance |
|
Date of latest
modification prior to the present modification |
16.03.2007 |
|
Particulars of
the present modification |
By present
Modification Additional Term Loan of Rs.42.500 millions was sanctioned. Thus total
Term Loan III and IV stands at Rs. 80.000 Millions. |
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Furniture and Fixtures
· Vehicles
· Data Processing Equipments.
WEBSITE
DETAILS:
CORPORATES
HEADLINES
April 6, 2008
Lokmat and Network18 launch 'IBN-Lokmat' TV channel
Lokmat Group, Maharashtra's leading Newspaper group and
Network18's Global Broadcast News (GBN),
Through its content, programming, state-of-the-art broadcast
centre, extensive infrastructure and international production quality,
IBN-Lokmat will embark on the principle of delivering news with the spirit of
'Chala, Jag Jinkuya!' (Literally meaning, 'Let's conquer the World). As
credible journalism empowers people it gives them the inner confidence to take
control of their surroundings and bring about change. IBN-Lokmat seeks to do
just that and more. With reporters in every district of Maharashtra, and access
to national and global networks, IBN Lokmat promises to become a bridge between
Commenting on the joint venture, Vijay Darda, Chairman, Lokmat Group said, "The joint-venture will blend together Lokmat's reach and understanding of the Marathi mind and GBN's world class standards to create a credible Marathi news channel. I am confident that this relationship will further expand and strengthen this endeavour that is IBN-Lokmat."
Sharing his views on the channel, Rajdeep Sardesai,
Editor-in-Chief, IBN Network said, "IBN-Lokmat will be tailored on the
lines of CNN-IBN and IBN7 and hence the spotlight will continue to stay rooted
on the journalistic spirit of 'Whatever it Takes'. With editorial integration
between GBN and Lokmat, we hope to become the voice of
"The channel will talk in contemporary Marathi, be
inclusive in its approach, will not mince words when it comes to taking up an
issue and shall be highly interactive and informative. Over a period of time,
the channel will become the most dependable source of information in Marathi
across Media. The channel will focus on
MILESTONES
1952
: Yavatmal Lokmat
started as a weekly from Yavatmal,
1960 : Yavatmal Lokmat weekly transformed into bi-weekly.
1971 :
1977 : Jalgaon Lokmat Jalgaon edition launched on December 15, 1977.
1982 :
1987 :
1987 : Ahmednagar Lokmat Ahmednagar edition launched on August 15,1987.
1989 :
1992 :
1992 :
1993 : Solapur Lokmat Solapur edition launched on October 24, 1993.
1996 : Nashik Lokmat Nashik edition launched.
1998 :
1998 : Mumbai Lokmat Mumbai edition launched on May 1, 1998.
1998 : Sangli Lokmat (Kolhapur-Sangli-Satara) launched on October 12, 1998.
1999 :
1999 : Pune Lokmat Pune edition launched on September 13, 1999.
2004 :
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.45.37 |
|
|
1 |
Rs.70.04 |
|
Euro |
1 |
Rs.58.93 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
67 |
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 |
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.