MIRA
INFORM REPORT
|
Report Date : |
04.03.2011 |
Note:
·
The correct name of the company is Ajay Industrial
Corporation Limited.
·
EN Craft is a brand name of the company
·
The company has shifted from the above address.
IDENTIFICATION DETAILS
|
Name : |
AJAY INDUSTRIAL CORPORATION LIMITED (w.e.f. 25.09.2008) |
|
|
|
|
Formerly Known
As : |
AJAY INDUSTRIAL CORPORATION PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-30, Mayapuri Industrial Area, Phase I, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
07.07.2008 |
|
|
|
|
Com. Reg. No.: |
55-180573 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51909DL2008PLC180573 |
|
|
|
|
IEC No.: |
0588066397 |
|
|
|
|
TIN No.: |
07840008158 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCA1943Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter,
Importer and Trader of Rigid P.V.C. Pipes, Deepwell hand Pumps, Irrigation
System and Reinforced Hoses. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 769000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. The company
is progressing well. Trade relations are reported as fair. Business is
active. Payments are reported to be slow but correct. 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.
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. Ajay Garg |
|
Designation : |
Accountant |
|
Contact No.: |
91-9810585743 |
|
|
|
|
Name : |
Ms. Purva |
|
Designation : |
Business Development Executive |
|
|
|
|
Date : |
01.03.2011 |
LOCATIONS
|
Registered Office : |
B-30, Mayapuri Industrial Area, Phase I, |
|
Tel. No.: |
91-11-28117056 |
|
Mobile No.: |
91-9330035008 (Mr. Amitava Das Gupta) 91-9350427372 (Mr. Jaideep Singh) 91-9810585743 (Mr. Ajay Garg) |
|
Fax No.: |
91-11-40666445 |
|
|
|
|
Website : |
|
|
|
|
|
Factory 1 : |
20/ 11, Site No.4, Sahibabad, |
|
E-Mail : |
|
|
|
|
|
Head Office : |
4561, Deputy Ganj, Sadar Bazar, |
|
Tel. No.: |
91-11-41677252/ 253/ 26849672/ 26310771/ 26910777/ 40666445/ 23612204 |
|
Fax No.: |
91-11-41677256/ 26311671/ 40666445/ 23536205 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Khasra# 1000 1001, Central Hope Town, Camp Road, Selaqui Industrial
Area, Dehradun – 248 197, |
|
Tel. No.: |
91-135-6458461/ 6458887 |
|
Fax No.: |
91-135-2698808 |
|
E-Mail : |
|
|
|
|
|
Factory 3 : |
C-31, Industrial Estate, Sanathnagar, |
|
E-Mail : |
|
|
|
|
|
Factory 4 : |
Gat No.381/ 382, Bhor-Shirwal Road, Opposite Susuain Asea Company,
Vill-Wing, Taluka Khandala, District Satara, Maharashtra, India |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Located at: ·
·
·
Pune ·
·
Chennai ·
·
·
Kolkata/North East ·
|
DIRECTORS
As on 27.09.2010
|
Name : |
Mr. Devendra Chandra Jain |
|
Designation : |
Managing Director |
|
Address : |
D-6, Kalindi Colony, |
|
Date of Birth/Age : |
04.08.1941 |
|
Date of Appointment : |
07.07.2008 |
|
DIN No.: |
00070922 |
|
|
|
|
Name : |
Mr. Sharat Chand Jain |
|
Designation : |
Director |
|
Address : |
D-6, Kalindi Colony, |
|
Date of Birth/Age : |
09.03.1943 |
|
Date of Appointment : |
07.07.2008 |
|
DIN No.: |
00071010 |
|
|
|
|
Name : |
Mr. Nitin Jain |
|
Designation : |
Director |
|
Address : |
D-6, Kalindi Colony, |
|
Date of Birth/Age : |
22.01.1975 |
|
Date of Appointment : |
27.09.2010 |
|
DIN No.: |
00071131 |
|
|
|
|
Name : |
Mr. Akhil Jain |
|
Designation : |
Whole Time Director |
|
Address : |
D-6, Kalindi Colony, |
|
Date of Birth/Age : |
03.12.1971 |
|
Date of Appointment : |
07.07.2008 |
|
DIN No.: |
00071274 |
|
|
|
|
Name : |
Mr. Anuj Jain |
|
Designation : |
Whole Time Director |
|
Address : |
D-6, Kalindi Colony, |
|
Date of Birth/Age : |
07.09.1976 |
|
Date of Appointment : |
01.01.2010 |
|
DIN No.: |
00071779 |
|
|
|
|
Name : |
Mr. Ajay Kumar Jain |
|
Designation : |
Director |
|
Address : |
I-14, Maharani Bhagh, |
|
Date of Birth/Age : |
03.12.1954 |
|
Date of Appointment : |
07.07.2008 |
|
DIN No.: |
00148839 |
|
|
|
|
Name : |
Mr. Rajeev Jain |
|
Designation : |
Director |
|
Address : |
D-6, Kalindi Colony, |
|
Date of Birth/Age : |
03.04.1969 |
|
Date of Appointment : |
07.07.2008 |
|
DIN No.: |
00271809 |
KEY EXECUTIVES
|
Name : |
Mr. Ajay Garg |
|
Designation : |
Accountant |
|
|
|
|
Name : |
Ms. Purva |
|
Designation : |
Business Development Executive |
|
|
|
|
Name : |
Ms. Preeti Jain |
|
Designation : |
Secretary |
|
Address : |
2675, Baradari, Ballimaran, |
|
Date of Birth/Age : |
01.01.1981 |
|
Date of Appointment : |
01.08.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Devendra Chandra Jain |
|
3800000 |
|
Sharat Chand Jain |
|
3800000 |
|
Ajay Kumar J |
|
1900000 |
|
Rajeev Jain |
|
100000 |
|
Nitin Jain |
|
100000 |
|
Akhil Jain |
|
100000 |
|
Anuj Jain |
|
100000 |
|
Abhishek Jain |
|
100000 |
|
Total |
|
10000000 |
As on 27.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter,
Importer and Trader of Rigid P.V.C. Pipes, Deepwell hand Pumps, Irrigation
System and Reinforced Hoses. |
||||||||
|
|
|
||||||||
|
Products : |
|
||||||||
|
|
|
||||||||
|
Brand Names : |
EN CRAFT |
||||||||
|
|
|
||||||||
|
Exports : |
|
||||||||
|
Products : |
|
||||||||
|
Countries : |
|
||||||||
|
|
|
||||||||
|
Imports : |
|
||||||||
|
Products : |
|
||||||||
|
Countries : |
|
||||||||
|
|
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
L/C, Cash and Credit (30 days) |
||||||||
|
|
|
||||||||
|
Purchasing : |
L/C, Cash and Credit (30 days) |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
|
|
Installed
Capacity (KG) |
Actual
Production (KG)
|
|
P.V.C. Pipe (In Kg) Mayapuri |
|
|
600000.000 |
589440.945 |
|
C.P.V.C. Pipe (In Kg) Mayapuri |
|
|
600000.000 |
518420.760 |
|
Hand Pump (In No.) Sahibabad |
|
|
30000.000 |
24141.000 |
|
P.V.C. Pipe (In Kg.) Sahibabad |
|
|
1000000.000 |
803197.250 |
|
P.V.C. Pipe (In Kg.) Okhla |
|
|
300000.000 |
0.000 |
|
C.P.V.C. (In Kg.) Dehradun |
|
|
2000000.000 |
1800511.024 |
|
P.V.C. (In Kg.) Dehradun |
|
|
350000.000 |
327352.490 |
|
UPVC (In Kg.) Dehradun |
|
|
1300000.000 |
549807.126 |
|
C.P.V.C. (In Kg.) Satara |
|
|
200000.000 |
140144.120 |
|
P.V.C. (In Kg.) Satara |
|
|
100000.000 |
76619.600 |
|
Window (In Nos.) Satara |
|
|
15000.000 |
131.000 |
|
Window (In Nos.) |
|
|
15000.000 |
87.000 |
|
Window (In Nos.) |
|
|
15000.000 |
427.000 |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
500 (Approximately) |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dharam Taneja and Associates Chartered Accountants |
|
Address : |
13/ 17, Punjabi Bagh Extension, |
|
|
|
|
Group Companies : |
Ajay Poly
Private Limited Address: 4561, Deputy Ganj, Sadar Bazar, CIN No.: U74899DL1980PTC010508 Precision Pipes
and Profiles Company Limited Address: 4561, Deputy Ganj, Sadar Bazar, CIN No.: L74899DL1995PLC073281 A I C (Plastic)
Private Limited Nutra Foods
India Private Limited Seiki Auto India
Private Limited |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 millions |
|
|
|
|
|
The above share capital 10000000 Equity Shares of Rs.10/- each fully
paid up allotted for non cash consideration.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
100.000 |
100.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
92.152 |
50.987 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
192.152 |
150.987 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
159.394 |
154.779 |
|
|
2] Unsecured Loans |
|
481.266 |
393.706 |
|
|
TOTAL BORROWING |
|
640.660 |
548.485 |
|
|
DEFERRED TAX LIABILITIES |
|
6.046 |
4.960 |
|
|
|
|
|
|
|
|
TOTAL |
|
838.858 |
704.432 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
337.454 |
285.066 |
|
|
Capital work-in-progress |
|
2.376 |
20.234 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
365.654
|
223.339 |
|
|
Sundry Debtors |
|
263.613
|
184.167 |
|
|
Cash & Bank Balances |
|
8.727
|
11.397 |
|
|
Other Current Assets |
|
0.000
|
0.000 |
|
|
Loans & Advances |
|
83.902
|
68.870 |
|
Total
Current Assets |
|
721.896
|
487.773 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
160.153
|
40.460 |
|
|
Other Current Liabilities |
|
37.500
|
24.316 |
|
|
Provisions |
|
25.215
|
24.680 |
|
Total
Current Liabilities |
|
222.868
|
89.456 |
|
|
Net Current Assets |
|
499.028
|
398.317 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.815 |
|
|
|
|
|
|
|
|
TOTAL |
|
838.858 |
704.432 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Net Sales |
|
1136.494 |
716.444 |
|
|
|
Job Work |
|
0.464 |
0.256 |
|
|
|
Other Income |
|
5.742 |
3.347 |
|
|
|
TOTAL (A) |
|
1142.700 |
720.047 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
|
824.246 |
413.868 |
|
|
|
Manufacturing and Other Operating Expenses |
|
91.588 |
48.513 |
|
|
|
Personnel Expenses |
|
47.464 |
27.697 |
|
|
|
General and Administrative Expenses |
|
56.078 |
34.904 |
|
|
|
Selling and Distribution Expenses |
|
65.164 |
35.767 |
|
|
|
Increase/ Decrease in Finished Stock |
|
(81.798) |
37.697 |
|
|
|
TOTAL (B) |
|
1002.742 |
598.446 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
139.958 |
121.601 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST &
FINANCIAL EXPENSES (D) |
|
59.507 |
44.952 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
80.451 |
76.649 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
31.023 |
11.885 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
49.428 |
64.764 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
8.263 |
13.777 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
41.165 |
50.987 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
50.987 |
-- |
|
|
|
BALANCE CARRIED
TO THE B/S |
|
92.152 |
50.987 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
283.954 |
243.274 |
|
|
TOTAL EARNINGS |
|
283.954 |
243.274 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
346.436 |
163.892 |
|
|
|
Capital Goods |
|
20.065 |
26.658 |
|
|
TOTAL IMPORTS |
|
366.501 |
190.550 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
4.12 |
5.10 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
3.60 |
7.08 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
4.35 |
9.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
4.67 |
8.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.26 |
0.43 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
4.49 |
4.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
3.24 |
5.45 |
LOCAL AGENCY FURTHER INFORMATION
REVIEW OF
OPERATIONS
The company established in 1961, today is the largest manufacturer and
exporter of Hand Pumps in the world, also producing wide range of Flexible and Rigid
Pipes, Hoses and Tubings. The company undertakes wide variety of engineering
and Metal Fabrication jobs at its facilities near
The hand pumps division manufactures and sells hand pumps and spare
parts in
The company is a licensee in India of LUBRIZOL INC. of
Subject’s latest developments include manufacture of prefabricated UPVC
Doors and Windows for which it has entered in to collaboration with leading
manufacturer from UK. It has also received marketing rights for
There is an ample demand of their product in domestic as well as international
market. Requirement of hand pump is more than 2 lakhs units per annum in
domestic and international market. They are exporting 90% of their production
to international market. Their major clients are UNICEF, leading NGOs and
various water supply departments of Government of India. They are also an
affiliated Member of the prestigious organizations like Engineering Export
Promotion Council of India (EEPC) and Plastics Export Promotion Council etc.
The quality of their products has enabled them to maintain a long-term and
fruitful business relationship with their valued clients. Their efforts have
helped them in developing a strong customer base in different parts of the
world.
As a validation of their excellent quality and their exceptional services,
the company has received several awards from many different agencies like:
Star Performer Award from E.E.P.C.
Winners of the Export Award constantly for the past several years etc.
EXPANSION OF
BUSINESS/ FUTURE PROSPECTS:
CPVC and UPVC
Pressure Pipes and Fittings for Cold water plumbing:
For fast growing market, where present capacities are not being able to
keep up with the demand, the company has setup a new manufacturing facility at
Pune,
The Company’s core business activities are expected to continue to grow
with vigor in future with the planned investment and modernization program, The
Directors look forward to the future with new hope, determination and
confidence.
FORM 8:
|
Corporate
identity number of the company |
U51909DL2008PLC180573 |
|
Name of the
company |
AJAY INDUSTRIAL CORPORATION LIMITED |
|
Address of the
registered office or of the principal place of business in |
4561, Deputy Ganj, Sadar Bazar, E-Mail: preeti_ppap@yahoo.co.in |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
ICICI Bank Limited, E-Mail: sanjay@brmco.com |
|
Nature of
description of the instrument creating or modifying the charge |
Mortgage
declaration |
|
Date of instrument
Creating the charge |
06/12/2010 |
|
Amount secured by
the charge |
Rs.210.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: CC: sum of I-Base
and spread p.a., subject to min. of I-Base +3.75% p.a. WCDL: As
stipulated by bank EPC/FUBD / FBP:
I-Base + 4.50% p.a., PSFC / Buyers
credit: 2.00% above LIBOR LC / BG: 0.75 %
p.a. Terms of
Repayment: On demand Margin: CC/WCDL: Uniform margin
of 25% against all components of inventory and book debts (cover period for
book debts 90 days) Letter of credit:
10.00% Bank Guarantees
covering disputed liabilities - 100% Financial
guarantees - 10.0% Performance
guarantees - 10.0% Extent and Operation
of the charge: Equitable
mortgage on Industrial property (Land and Building) at Khasra No. 1000 and
1001 ,Village Central Hope Town, Camp Road, Schaqui Industrial Area, Vikas
Nagar Dehradun, Uttaranchal. Others: The above is to
secure Cash Credit Rs. 150 millions , WCDL (sub limit of CC) 150.000 millions
, WCDL FC (sub limit of CC) Rs.150.000 millions , EPC/PCFC (sub-limit of CC)
Rs.16.700 millions , (FUBD / FBP/ PSFC) (sub limit of CC) Rs.50.000 millions
, Buyers Credit (sub-limit of LC-I) Rs.40.000 millions , Buyers Credit
(sub-limit of LC -II) Rs.50.000 millions , LC (as a sub limit of CC) -I
Rs.50.000 millions , Bank Guarantee (as a sub limit of CC) Rs.7.500 millions
and LC -II Rs.60.000 millions |
|
Short particulars
of the property charged |
Equitable
mortgage on Industrial property (Land and Building) at Khasra No. 1000 and
1001 , Village Central Hope Town, Camp Road, Schaqui Industrial Area, Vikas
Nagar Dehradun, Uttaranchal. |
CONTINGENT
LIABILITIES NOT PROVIDED FOR IN NRESPECT OF:
|
Particulars |
31.03.2010 (Rs.
in millions) |
|
i. letters of Guarantees |
3.932 |
|
ii. Trade tax/ Sales Tax/ VAT |
0.168 |
|
iii. Income Tax |
0.467 |
|
|
4.567 |
FIXED ASSETS:
·
·
·
Plot at Loni
·
·
Factory Shed
·
·
Furniture
·
Renovation
·
Vehicles
·
Office Equipment
·
Dies and Moulds
·
Computer
·
Installation
·
Laboratory Equipment
·
Construction
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.44.96 |
|
|
1 |
Rs.73.37 |
|
Euro |
1 |
Rs.62.33 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.