MIRA
INFORM REPORT
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Report Date : |
08.06.2011 |
IDENTIFICATION DETAILS
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Name : |
KRYFS POWER COMPONENTS LIMITED (w.e.f. June 2006) |
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Formerly Known As : |
KRYFS LAMINATIONS PRIVATE LIMITED |
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Registered Office : |
Aza House, 3rd Floor, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
05.03.1991 |
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Com. Reg. No.: |
11-60602 |
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Capital Investment / Paid-up Capital : |
Rs. 88.235 Millions |
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CIN No.: [Company
Identification No.] |
U25209MH1991PLC060602 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMK10554F |
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PAN No.: [Permanent
Account No.] |
AAACK2791F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Stacked Transformer Laminations, Cores,
Lifting slings and Lashings. |
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No. of Employees : |
450 (approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (52) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 5058000 |
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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 well established and a reputed company having fine track.
Directors are reported to be experienced and respectable businessmen. Trade relations
are reported as fair. Business is
active. Payments are reported to be regular and as per commitments. The company can be considered normal for 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.
INFORMATION DECLINED BY
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Name : |
Mr. Samir |
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Designation : |
Accounts Manager |
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Contact No.: |
91-9619187237 |
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Date : |
07.06.2011 |
LOCATIONS
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Registered Office : |
Aza House, 3rd Floor, |
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Tel. No.: |
91- 22- 26443533/ 67859999 / 26443522 |
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Mobile No.: |
91-9619187237 (Mr. Samir) |
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Fax No.: |
91- 22- 67859999/ 26434462 |
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E-Mail : |
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Website : |
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Area : |
1000 Sq. ft. |
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Location : |
Owned |
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Factory 1 : |
Survey 211/1, |
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Tel. No.: |
91-260-2677312 |
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Fax No.: |
91-260-2677312 |
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Area : |
170000 Sq. ft. |
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Location : |
Owned |
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Factory 2 : |
Plot 75, Diwan Industrial Estate, |
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Tel. No.: |
91-9525-25254780 |
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Area : |
50000 Sq. ft. |
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Location : |
Owned |
DIRECTORS
As on 29.07.2010
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Name : |
Mr. Fakhruddin B. Qureishi |
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Designation : |
Chairman and Whole time Director |
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Address : |
1101, DIAGO D, |
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Date of Birth/Age : |
19.09.1941 |
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Date of Appointment : |
05.03.1991 |
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Email : |
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Name : |
Mr. Saifuddin F. Qureishi |
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Designation : |
Managing Director |
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Address : |
1101, DIAGO D, |
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Date of Birth/Age : |
12.05.1964 |
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Date of Appointment : |
14.02.1994 |
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Email : |
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Name : |
Mr. Rauzat S. Qureishi |
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Designation : |
Whole time Director |
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Address : |
1101, DIAGO D, |
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Date of Birth/Age : |
01.03.1967 |
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Date of Appointment : |
19.06.2000 |
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Email : |
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Name : |
Mr. Rakesh M. Nanda |
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Designation : |
Non Executive Independent Director |
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Address : |
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Date of Birth/Age : |
07.08.1962 |
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Date of Appointment : |
18.05.2006 |
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Email : |
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Name : |
Mr. Alok S. Shukla |
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Designation : |
Non Executive Independent Director |
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Address : |
RH-1, Om Dwarka Nath Society, Plot 11, Sector 19-A, Nerul, Navi
Mumbai-400706, |
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Date of Birth/Age : |
09.05.1951 |
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Date of Appointment : |
18.05.2006 |
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Email : |
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Name : |
Mr. Sanjay K. Asher |
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Designation : |
Non Executive Independent Director |
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Address : |
32, Mody Street, Next to GPO, Fort, Mumbai-400001, |
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Date of Birth/Age : |
26.11.1964 |
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Date of Appointment : |
18.05.2006 |
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Email : |
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Other Directorships : |
v
Bajaj Allianz General Insurance Company Limited v
Repro India Limited v
Finolib Chemicals Private Limited v
Finolex Cables Limited v
Mepha Pharma India Private Limited v
Migatronic India Private Limited v
Shop24seven India Private Limited |
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Name : |
Mr. Manish Chhajed |
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Designation : |
Nominee Director |
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Address : |
29, Adarsh Nagar, Rohtak – 124 001, |
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Date of Birth/Age : |
14.06.1978 |
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Date of Appointment : |
26.06.2009 |
KEY EXECUTIVES
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Name : |
Ms. Rupali |
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Designation : |
Accountant |
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Name : |
Mr. Samir |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.07.2010
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Names of Shareholders |
No. of Shares |
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Saifuddin Qureishi |
4236042 |
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Fakhruddin Qureishi |
2363882 |
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Kulsum Qureishi |
675113 |
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Rauzat Quereishi |
204879 |
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Yasmin Karachiwala |
20000 |
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Minhaz Shabbir Karachiwala |
84 |
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Reliance |
1323530 |
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Total |
8823530 |
As on 29.07.2010
Equity Share Break up (Percentage of Total Equity)
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Category |
Percentage |
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Venture Capital |
15.00 |
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Directors or relatives of director |
85.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Stacked Transformer Laminations, Cores,
Lifting slings and Lashings. |
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Products : |
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Exports : |
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Products : |
Lamination Cores |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
90 % L/C |
PRODUCTION STATUS (As on 31.03.2010):
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Particulars |
Unit |
Installed
Capacity |
Actual
Production |
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Electrical Lamination, Strips and Cores (Excludes scrap) |
M.T. |
30000.00 |
19801.090 |
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Polyester Slings |
Nos. |
60000 |
27887 |
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Transformers |
KVA |
1250000 |
57 Nos. – 285510
KVA |
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Notes:
Includes production on Job Work Basis 4561.375 M.T.
GENERAL INFORMATION
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Customers : |
Manufacturer
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No. of Employees : |
450 (approximately)(In Office – 50, In Factory – 400) |
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Bankers : |
v Bank of India, Mumbai Large Corporate Banking Branch, 70/80, M G Road, Fort, Mumbai - 400023, Maharashtra, India v
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Standard Chartered Bank, Branch Fort, Mumbai |
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Facilities : |
Notes:- 1. Cash credit
from the bank of i) Repayment of the above facilities are guaranteed by personal guarantee of Mr. Fakhruddin B. qureishi and Mr. Saifuddin F. Qureishi ii) Working Capital limits are secured by first pari passu charge on the current assets of the company iii) The above limits are also secured by first mortgage charge on company block assets situated at: · Plot # 75, Diwan Industrial Estate, Palghar ·
S/No. 211/, ·
Office Premises at CTS ·
S/No.193/1/1/2, 2. Cash Credit
from the Citi Bank are secured as follows: i) Repayment of the above facilities are guaranteed by personal guarantee of Mr. Fakhruddin B Qureishi and Mr. Saifuddin F qureishi ii) Working capital limits are secured by first pari passu charge on the present and future stock, book debts and fixed assets of the company iii) Pari Passu First Charge on companies office at 302, 3. Vehicle loans are secured by way of hypothecation of respective
vehicles against which the loan is taken.
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
A.S. Kanchwalla and Associates Chartered Accountants |
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Address : |
203, |
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Tel. No.: |
91-22-22622802 |
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Associates/Subsidiaries : |
Qureishi Enterprises Address : 14, Evergreen Industrial Estate, Shanti Mills Compound,
Mahalaxmi, Mumbai – 400011, Line of Business: Trading in Mail handing equipment and cutlery items. Fairco Exports Address : 101, Classic Corner, 133, Line of Business : Trading in Silicon Steel |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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8823530 |
Equity Shares |
Rs.10/- each |
Rs.88.235
millions |
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Notes:-
[Of the above 6166780 Equity Shares fully paid
up have been issued as bonus shares by capitalization of the General reserve
and share premium account.]
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
88.235 |
88.235 |
88.235 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1176.280 |
1049.161 |
995.698 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1264.515 |
1137.396 |
1083.933 |
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LOAN FUNDS |
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1] Secured Loans |
2.619 |
4.586 |
68.156 |
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2] Unsecured Loans |
2.256 |
2.786 |
3.316 |
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TOTAL BORROWING |
4.875 |
7.372 |
71.472 |
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DEFERRED TAX LIABILITIES |
42.977 |
31.333 |
13.507 |
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TOTAL |
1312.367 |
1176.101 |
1168.912 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
503.367 |
438.305 |
146.358 |
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Capital work-in-progress |
13.756 |
40.806 |
237.421 |
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INVESTMENT |
13.041 |
106.878 |
248.742 |
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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 |
479.262
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565.446
|
569.922
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Sundry Debtors |
723.633
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745.990
|
677.882
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Cash & Bank Balances |
51.088
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27.590
|
59.513
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Other Current Assets |
115.462
|
72.546
|
49.113
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Loans & Advances |
45.006
|
45.810
|
59.554
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Total
Current Assets |
1414.451
|
1457.382 |
1415.984 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
523.740 |
817.538 |
818.102 |
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Other Current Liabilities |
64.505
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28.627
|
22.221
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Provisions |
44.003
|
21.105
|
40.019
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Total
Current Liabilities |
632.248
|
867.270 |
880.342 |
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Net Current Assets |
782.203
|
590.112 |
535.642 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.749 |
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TOTAL |
1312.367 |
1176.101 |
1168.912 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
3152.932 |
2715.761 |
3022.456 |
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Other Income |
31.830 |
14.579 |
21.153 |
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TOTAL (A) |
3184.762 |
2730.340 |
3043.609 |
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Less |
EXPENSES |
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Consumption of Materials |
2689.141 |
2305.380 |
2489.062 |
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Operating Expenses |
199.147 |
267.052 |
201.416 |
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TOTAL (B) |
2888.288 |
2572.432 |
2690.478 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
296.474 |
157.908 |
353.131 |
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Less |
FINANCIAL
EXPENSES (D) |
16.441 |
43.553 |
60.448 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
280.033 |
114.355 |
292.683 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
34.946 |
18.829 |
8.155 |
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PROFIT BEFORE
TAX (E-F) (G) |
245.087 |
95.526 |
284.528 |
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Less |
TAX (H) |
81.956 |
31.010 |
92.017 |
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PROFIT AFTER TAX
(G-H) (I) |
163.131 |
64.516 |
192.511 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
363.623 |
352.962 |
239.001 |
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Less |
APPROPRIATIONS |
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Final Dividend |
30.883 |
9.706 |
28.676 |
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Tax on Distributed Profits |
5.129 |
1.649 |
4.874 |
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Transfer to General Reserve |
52.500 |
42.500 |
45.000 |
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BALANCE CARRIED
TO THE B/S |
438.242 |
363.623
|
352.962 |
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EARNINGS IN
FOREIGN CURRENCY |
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FOB value of Exports |
254.936 |
385.640 |
535.855 |
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TOTAL EARNINGS |
254.936 |
385.640 |
535.855 |
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IMPORT VALUE |
1859.239 |
2005.044 |
1649.451 |
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Earnings Per
Share (Rs.) |
18.49 |
7.31 |
21.82 |
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Particulars |
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|
31.03.2011 |
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Sales Turnover |
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|
4300.000 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
5.12
|
2.36
|
6.32
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Net Profit Margin (PBT/Sales) |
(%) |
7.77
|
3.52
|
9.41
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Return on Total Assets (PBT/Total Assets} |
(%) |
12.78
|
5.04
|
18.21
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Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.08
|
0.26
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Debt Equity Ratio (Total Liability/Networth) |
|
0.50
|
0.77
|
0.88
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Current Ratio (Current Asset/Current Liability) |
|
2.24
|
1.68
|
1.61
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LOCAL AGENCY FURTHER INFORMATION
change of address:-
The Registered Office of the company was 101, Classic Corner, 133, Hill Road,
Off St. Andrews Road, Bandra (West), Mumbai – 400050, Maharashtra shifted to
present Registered Address w.e.f. 01.11.2008.
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors: - Micro, small and medium enterprises @ |
-- |
-- |
-- |
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- Others # |
523.740 |
817.538 |
818.102 |
Notes:
@ the company has not received information from vendors regarding their status under the micro, small and medium enterprises development Act 2006 and hence disclosure regarding to amounts unpaid as at the year end together with interest paid / payable under this act has not been given
# Sundry creditors others includes the creditors for the capital goods Rs.11.121 millions.
operating results and business:
For the year ended 31st March 2010, the Company earned total
net income of Rs. 3184.760 millions (Gross income of Rs.3422.830 Millions) as compared
to the previous year Rs.2730.340 millions (Gross Income of Rs.3008.570
Millions).
The EBITDA of the Company increased to Rs.296.470 Millions from
Rs.157.910 Millions and net profit of the Company increased significantly to
Rs.163.130 millions from the previous year Rs.64.520 millions.
During the financial year the production of CRGO Cores/Laminations
increased in quantity terms by 36.72% from 14483.200 MT (previous year) to
19801.090 MT. The utilization of raw material has improved marginally from 93.98% to 94.10% (i.e. for every 1 MT of
input of CRGO in FY 2009-10 the output was 0.941 MT of Finished goods and in FY
2008-09 the output was 0.939 MT of finished goods.
a) Foreign Exchange Gain:
During the year the
company has made gain of Rs.20.800 millions compared to previous years exchange
loss of Rs.93.140 millions.
b) Job Work of customer’s material:
During the financial
year job working (I.e. processing of the customers material on labour basis)
for customers Increased to 4516.375 MT compared to 2847.502 MT in the previous
year (increase of 60.19%). Although job working does not add to the top line
nor add significantly to the bottom line of the company, it is in the strategic
interest of the company to do so to retain customer base and market share. Thus
the company’s sales turnover has not increased in proportion to the increase in
production.
FORM 8:
|
Corporate
identity number of the company |
U25209MH1991PLC060602 |
|
Name of the
company |
KRYFS POWER COMPONENTS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Aza House, 3rd Floor, E-Mail: saif.qureishi@kryfs.com |
|
This form is for |
Modification of
charge |
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Charge
identification number of the modified |
10040414 |
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Type of charge |
Immovable
Property |
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Particular of
charge holder |
Bank of India, Mumbai Large Corporate Banking Branch, 70/80, M G Road, Fort, Mumbai - 400023, Maharashtra, India E-Mail: Mumbai.Lcbb@bankofindia.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
entry for extension of mortgaged charged by deposit of title deed dated 7th
June, 2010 for enhanced finance facility from 1070.000 millions to 1400.000
millions. |
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Date of
instrument Creating the charge |
07/06/2010 |
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Amount secured by
the charge |
Rs.1400.000
millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Interest shall be
charged on the outstanding in the said Accounts(s) at such rate or rate as
may be determined by the Bank form time to time. Terms of
Repayment: on demand Margin: The Company shall
maintain such security margin as may be stipulated by the Bank Extent and
Operation of the charge: Extension of
existing mortgage details as per (A) (B)
and (C) given in Para No. 3 in Memorandum of Entry dated 7th June 2010. Fresh mortgage of
additional properties describe under (A) (B) and (C) given in first page of
Memorandum of Entry dated 7th June 2010 Others: The charge
created/to be created by the Company on the land and building shall rank pari
passu inter se the banks for all purpose and to all intents without any
priority over the other or others. This security
shall be a continuing security for the balance time to time due to the said
banks and each of them under the said Account(s). |
|
Short particulars
of the property charged |
All that piece or
parcel of the non agriculture land admeasuring about 1 hectare and 52 are
equivalent to 15200 sq mtrs. bearing S.No. 211/1 at Village Kherdi in the UT
of Dadra and Nagar Haveli Plot No. 63
Admeasuring about 800 Sq.Yard S.No.411/1 (Part), 433/3 (Part), 433/4 (Part)
At Mouje Village Taluka Mahim District Palghar Thane Plot No. 75 Admeasuring
about 800 Sq.Yard S.No.411/1 (Part), 433/3 (Part), 433/4 (Part) Mouje Village
Taluka Mahim District Palghar Thane S.No. 231/1
Admeasuring about 9500 Sq. Mtrs at Village Kherdi in the U T Of Dadra and
Nagar Haveli. S.No.231/3,
231/2/1 Admeausuring about 0 Hectare and 60 are equivalent to 5590 Sq.Mtrs at
Village Kherdi in the Ut of Dadara and Nagar Haveli S.No.193/1/1/2
Admeasuring about 7000 Sq.Mtrs at Village Kherdi in the UT of Dadra and Nagar
Haveli. Premises No 302,
3rd Floor, with 2 Car Parking Space in Building known as 'Turner Road
Commercial' (Aza House), |
|
Date of latest
modification prior to the present modification |
23/09/2008 |
|
Particulars of
the present modification |
Additional Security
by Memorandum of Entry in respect of Deposit of Title Deeds so as to cover
the increased finance facility from Rs.1070.000 millions to 1400.000
millions. |
|
Name of the
company |
KRYFS POWER COMPONENTS LIMITED |
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|
Presented By |
BANK OF |
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|
1) Date and description of instrument creating the change |
Dated 24.08.2001. No instrument by a mortgage was created by way of deposit of title deeds in respect of the village Mahim registration sub district Palghar |
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|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.77.000 millions |
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|
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 |
All that the piece or parcel of land together with heredicament and premises and building now standing thereon and to be constructed hereafter leasehold/ freehold plot of land bearing No.75 forming part of land bearing Survey No.441 and 433/4 within the village limits of Mahim in the Taluka Registration, Sub district of Palghar and District Thane and admeasuring 663.86 Sq. meters or thereabouts together with buildings and other structures, fixed machinery and plant, fixtures and fittings both present and future. |
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|
4) Gist of the terms and conditions and extent and operation of the charge. |
The company has created a mortgage by deposit of title deeds relating to above properties to secure the due repayment by the company to the bank the balances from time to time in the following accounts:
|
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|
5) Name and Address and description of the person entitled to the charge. |
Bank of Mumbai Corporate Banking Branch,
70/80, M |
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|
6) Date and brief description of instrument modifying the charge |
Dated 20.02.2004 No instrument : equitable mortgage created by way of deposit of title deeds in respect of company’s immovable properties as security. |
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|
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. |
Past modification : The original charge created on 24.08.2001 for Rs.77.000 millions was modified on 30.11.2002 for Rs.79.500 millions against the security of equitable mortgage. (Last modification registered on 20.12.2002 under Doc. No.52). Present
modification : The company accorded its consent to the bank to continue to hold and retain the title deeds of the company’s immovable property being lying and situated at Plot No.75, admeasuring 663.86 Sq.meters, Survey No.441 (part) and 433/4 (part) within village limit of Mahim village, Registration Sub District of Palghar, District Thane as security not only for the original limits but also for the enhanced additional limits up to Rs.122.000 millions as stated hereunder :
All other terms and conditions shall remain the same. Thus the mortgage charge now stands secured at Rs.122.000 millions. |
|
Corporation identity number or foreign company registrations number of the company |
U25209MH1991PLC060602 |
|
Name of the company |
KRYFS POWER COMPONENTS LIMITED |
|
Address |
101, Classic Corner, 133, |
|
This Form is for |
Modification of charge |
|
Type of Charges |
Book debts Movable property Floating charge |
|
Particular of the charge holder |
Bank of Mumbai Large Corporate Brnach, Bank of India Building, 70/80, M |
|
Nature or description of the instrument creating charge |
First Supplemental Joint Deed of Hypothecation |
|
Date of the instrument creating charge |
30.08.2008 |
|
Amount Secure by the charge |
Rs.1070.000 millions |
|
Brief of the principal terms and conditions and extent and operation of the charge |
Rate of interest Interest shall be charged on the outstanding in the said accounts at
such rate or rates as may be determined by the bank from time to time. Terms of repayment On demand Margin The company shall maintain such security margin as may be stipulated
by the bank Extent and operation of the charge The whole of the current assets of the borrower namely, stocks of raw
materials, stocks in process, semi finished and finished goods, stored and
spares not relating to plant and
machinery (consumable stores and spares), Bill receivable and book debt sand
all other movables Others The charge created/ to be created by the company on the current
assets, plant and machinery and book debts shall rank pari passu inter so the
banks for all purposes and to all intents without any priority over the other
of others. This security shall be continuing security for the balances from time
to time due to the said banks and each of them under the said accounts. |
|
Particulars of the Property charged |
The whole of the current assets of the company namely, stocks of raw
materials, stocks in process, semi finished and finished goods, stored and
spares not relating to plant and
machinery (consumable stores and spares), Bill receivable and book debt sand
all other movables |
TRADE REFERENCES:
· Bharat Bijlee Limited
· Crompton Grieves
FIXED ASSETS:
v
v
Land
v
Building
v
Vehicles
v
Furniture and Fixtures
v
Plant and Machinery
v
Electrical Installations
WEBSITE DETAILS
Company PROFILE:
The company is
Today, subject has two modern plants, one located at Palghar in
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.44.74 |
|
|
1 |
Rs.73.25 |
|
Euro |
1 |
Rs.65.48 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
52 |
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.