1. Summary Information
|
|
|
Country |
|
|
Company Name |
MILESTONE GLOBAL LIMITED |
Principal Name 1 |
Mr. Alok Krishna Agarwal |
|
Status |
Moderate |
Principal Name 2 |
Mr. Sunil Kumar Agarwal |
|
|
|
Registration # |
011082 |
|
Street Address |
54-B, Hoskote Industrial Area (KIADB), |
||
|
Established Date |
23.07.1990 |
SIC Code |
-- |
|
Telephone# |
91-80-7971334/ 7971345 |
Business Style 1 |
Processing |
|
Fax # |
91-80-7971345 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Polished granite tiles |
|
|
# of employees |
-- |
Product Name 2 |
Slabs |
|
Paid up capital |
Rs.
50,175,000/- |
Product Name 3 |
Monuments. |
|
Shareholders |
Promoter Holding ( 54.61%) Public Shareholding (45.39%) |
Banking |
NA |
|
Public Limited Corp. |
YES |
Business Period |
21 Years |
|
IPO |
YES |
International Ins. |
- |
|
Public |
YES |
Rating |
B (26) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiary
Company |
|
Milestone Global (NZ) Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
52,400,000 |
Current Liabilities |
9,000,000 |
|
Inventories |
23,700,000 |
Long-term Liabilities |
36,800,000 |
|
Fixed Assets |
47,200,000 |
Other Liabilities |
000 |
|
Deferred Assets |
000 |
Total Liabilities |
45,800,000 |
|
Invest& other Assets |
7,300,000 |
Retained Earnings |
34,600,000 |
|
|
|
Net Worth |
84,800,000 |
|
Total Assets |
130,600,000 |
Total Liab. & Equity |
130,600,000 |
|
Total Assets (Previous Year) |
131,900,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
116,400,000 |
Net Profit/ Loss |
[500,000] |
|
Sales(Previous yr) |
110,200,000 |
Net Profit/
Loss(Prev.yr) |
[800,000] |
MIRA
INFORM REPORT
|
Report Date : |
01.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
MILESTONE GLOBAL LIMITED |
|
|
|
|
Registered
Office : |
54-B, Hoskote Industrial Area (KIADB), |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
23.07.1990 |
|
|
|
|
Com. Reg. No.: |
011082 |
|
|
|
|
CIN No.: [Company Identification
No.] |
L85110KA1990PLC011082 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRS03411C |
|
|
|
|
Legal Form : |
A Public Limited Liability. The company’s shares are listed on stock
exchange. |
|
|
|
|
Line of Business
: |
Processing of polished granite tiles, slabs and monuments. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 340000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company is under pressure. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow. The company can be considered for business dealing with some caution. |
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 |
LOCATIONS
|
Registered Office/ Factory : |
54-B, Hoskote Industrial Area (KIADB), |
|
Tel. No.: |
91-80-7971334/ 7971345 |
|
Fax No.: |
91-80-7971345 |
|
E-Mail : |
|
|
Website: |
|
|
|
|
|
Overseas Office : |
|
|
Tel. No.: |
+44- (0) 800 4049292 ( +1-877-686 1597 ( +91-0-98445-62068 +91-0-98445-62069 +353-1800550396 ( |
|
Fax No.: |
+1-772-3252428 ( +44-(0)- 870 7628736 ( +353-1-6842030 ( |
DIRECTORS
As on 31.03.2010
|
Name : |
Mr. Alok Krishna Agarwal |
|
Designation : |
Chairman Cum Managing Director |
|
|
|
|
Name : |
Mr. Sunil Kumar Agarwal |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Rajeev Kapoor |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. Naveen Chawla |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mrs. Vinita Sahay |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. Mayank Bhugani |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. Fiz Ahmed |
|
Designation : |
Whole Time Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2010
|
Names of Shareholders |
No. of Shares |
Percentage |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
2,740,095 |
54.61 |
|
|
2,740,095 |
54.61 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
2,740,095 |
54.61 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
300,000 |
5.98 |
|
|
99,900 |
1.99 |
|
|
399,900 |
7.97 |
|
|
|
|
|
|
1,050,100 |
20.93 |
|
|
|
|
|
|
620,405 |
12.36 |
|
|
6,000 |
0.12 |
|
|
201,000 |
4.01 |
|
|
40,000 |
0.80 |
|
|
160,000 |
3.19 |
|
|
1,000 |
0.02 |
|
|
1,877,505 |
37.42 |
|
Total Public shareholding (B) |
2,277,405 |
45.39 |
|
Total (A)+(B) |
5,017,500 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total (A)+(B)+(C) |
5,017,500 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal share
capital up to Rs. 0.100 MillionBUSINESS DETAILS
|
Line of Business : |
Processing of polished granite tiles, slabs and monuments. |
GENERAL INFORMATION
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P L Tondon and Company Chartered Accountant |
|
|
|
|
Subsidiaries : |
|
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5250000 |
Equity Shares |
Rs. 10/- each |
Rs. 52.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5017500 |
Equity Shares |
Rs. 10/-
each |
Rs. 50.175
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
50.200 |
50.200 |
50.200 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
34.600 |
35.100 |
35.900 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
84.800 |
85.300 |
86.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
36.800 |
38.800 |
44.200 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
1.400 |
|
|
TOTAL BORROWING |
36.800 |
38.800 |
45.600 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
121.600 |
124.100 |
131.700 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
47.200 |
51.200 |
56.700 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
7.300 |
7.300 |
7.100 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
23.700
|
36.900 |
41.100 |
|
|
Sundry Debtors |
22.400
|
23.100 |
25.600 |
|
|
Cash & Bank Balances |
3.300
|
3.100 |
3.000 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
26.700
|
10.300 |
7.100 |
|
Total
Current Assets |
76.100
|
73.400 |
76.800 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
0.000 |
0.000 |
|
|
Other Current Liabilities |
9.000
|
7.800 |
8.800 |
|
|
Provisions |
0.000
|
0.000 |
0.100 |
|
Total
Current Liabilities |
9.000
|
7.800 |
8.900 |
|
|
Net Current Assets |
67.100
|
65.600 |
67.900 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
121.600 |
124.100 |
131.700 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
116.400 |
110.200 |
101.000 |
|
|
|
Other Income |
0.100 |
0.200 |
0.800 |
|
|
|
TOTAL (A) |
116.500 |
110.400 |
101.800 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Materials |
50.000 |
52.800 |
55.100 |
|
|
|
Power and Fuel Cost |
4.500 |
4.300 |
4.600 |
|
|
|
Employee Cost |
19.600 |
19.100 |
18.000 |
|
|
|
Other Manufacturing Expenses |
2.300 |
1.800 |
2.200 |
|
|
|
Selling and Admin Expenses |
0.000 |
11.100 |
0.000 |
|
|
|
Miscellaneous Expenses |
19.000 |
7.000 |
12.700 |
|
|
|
Preoperative Expenses Capitalized |
0.000 |
0.000 |
0.000 |
|
|
|
Stock Adjustment |
10.800 |
3.100 |
[3.600] |
|
|
|
TOTAL (B) |
106.200 |
99.200 |
89.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10.300 |
11.200 |
12.800 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES/ INTEREST (D) |
4.600 |
4.600 |
5.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.700 |
6.600 |
7.800 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.500 |
7.300 |
7.700 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
[0.800] |
[0.700] |
0.100 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
[0.300] |
0.100 |
[0.500] |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
[0.500] |
[0.800] |
0.600 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
[0.09] |
-- |
-- |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2010 |
30.09.2010 |
31.12.2010 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
20.920 |
28.540 |
29.450 |
|
Total Expenditure |
18.800 |
25.900 |
27.340 |
|
PBIDT (Excl OI) |
2.120 |
2.640 |
2.110 |
|
Other Income |
0.020 |
0.050 |
0.010 |
|
Operating Profit |
2.140 |
2.690 |
2.120 |
|
Interest |
0.620 |
1.270 |
1.100 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
1.520 |
1.420 |
1.020 |
|
Depreciation |
1.740 |
1.630 |
1.080 |
|
Profit Before Tax |
[0.220] |
[0.210] |
[0.060] |
|
Tax |
0.000 |
0.000 |
[0.070] |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
[0.220] |
[0.210] |
0.010 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.00 |
0.000 |
|
Net Profit |
[0.220] |
[0.210] |
0.010 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
[0.43]
|
[0.72] |
0.59 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
[0.69]
|
[0.64] |
0.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
[0.65]
|
[0.56] |
0.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
[0.01]
|
[0.01] |
0.001 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.54
|
0.55 |
0.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
8.46
|
9.41 |
8.63 |
LOCAL AGENCY FURTHER INFORMATION
History:
1990 - The Company was Incorporated on 23rd July as a private limited company under the SSD sector for
processing of polished granite tiles etc. It
was promoted by S.G. Agarwal, Ms. Renubala Agarwal, Syed Yasmin and Sunil Kumar
Agarwal. It was converted into a public
Limited Company on 25th January, 1995.
- The Company is a 100%
Export Oriented Unit exclusively engaged in the manufacture of granite monuments, tombstones, memorials with an installed
capacity of 4500 smt. It obtained 100%
EOU status on 7th June, 1993. The
Company switched its line from Granite tiles and slabs to granite monuments
from 1993-94 onwards.
- The Company's object is
the business of processing of polished granite tiles, slabs and monuments.
- The Company undertook to
expand the granite processing capacity to 32,500 sq. Mt. from 4,500 Sq.
Mt. The Company also undertook to
develop leased quarries for long term captive storing of raw material. Two acres of land adjoining its existing
factory at Karnataka Industrial Area Development Board (KIADB) was
acquired for the same.
- The Company also undertook
to set up two showrooms at
- The Company entered into
exclusive agency agreements with two resident representatives in
1996 - 10,67,500 No. of Equity
shares held by promoters (of these 1,00,000 shares issued at a prem. of Rs.5
per share). During October 1995, the
company issued 39,50,000 No. of equity
shares at a prem. of Rs.5 per share of which the following were reserved and allotted on a firm basis:
- (i) 66,600 shares to
Karnataka State Financial Corporation (KSFC),
- (ii) 33,300 shares to
KSIIDC,
- (iii) 1,00,000 shares to
SBI Funds Management,
- (iv) 2,00,000 shares to
PNB Asset Management Co. Limited,
- (v) 4,50,000 shares to
NRIs/Overseas Corporate Bodies. Of the
remaining, the following were reserved for allotment
on a pref. basis:
- (1) 5,00,100 shares to banks
FIs,
- (2) 3,00,000 shares to
Indian Mutual Funds of these none were taken up. Balance 13,50,000 shares along with
8,00,000 shares not taken up under
preferential allotment issued to the public.
2003 - Re-issue of forfeited
Equity share
2006
-Mr Rajeev K Garg appointed as
Additional Director of the Board.
-Milestone Global Limited has
appointed Mr. Deepak Agarwal as additional director who shall hold office till
the next AGM or his resignation
whichever is earlier.
2008
- Milestone Global Limited has
has appointed Ms. Vinita Sahaly as
additional director of the Company.
Business
During the year the global
economy showed marginal recovery and the
Company also recorded a marginal increase in the turnover of Rs. 116.372 Millions as against
Rs. 110.150 Millions previous year. However the Company suffered Rs.0.763
Million as against net loss of Rs.0.693 Million
in the previous year.
As a counter mechanism to reduce
risk the Company continued in
implementing suitable measures such as FOB billing and extending
direct marketing strategy even in the
As sign of recovery of global
economy seen during the current financial
year, the directors are confident in expecting considerable growth
in the performance of the company in the
coming years.
Subsidiary
Companies
As a proven strategy the company
adopted the direct marketing for risk
mitigation and shareholders wealth maximization. During the year
under review the company has
successfully incorporated another wholly own
subsidiary known as M/s Milestone Global (US) Inc., at Delaware, USA for the direct marketing at USA.
As on March 31, 2010 the company
has total 4(Four) Subsidiaries as
follows:
·
Milestone Global (
·
Milestone Global (NZ) Limited,
·
ANA Hospitality Private Limited,
·
Milestone Global (
During the year, the overall
performance of subsidiaries at US,
As per website
Introduction:
Subject was Established in the Year 1991, has created a
repertoire of Superior Monuments And Memorials.
The unit is
strategically located in the center of
The state of art
machinery and skilled staff makes milestone global Limited one of the worlds
most modern manufacturing units providing a wide range of high quality
memorials and monuments.
In the last 17
years the company has established an enviable track record of providing total
customer satisfaction and strictly adhering to given delivery schedules.
Subject was
established in the year 2005 for the sole purpose of rendering better quality
and services to its customers as compared to other importers of granite into
the
Subject has
executed prestigious projects like war memorials and town center squares in the
MGL Services:
They can supply
all the products to any part of the world in partial or full container loads.
They find shipping
schedules or shipping companies to ensure the shortest shipping time at the
lowest available freight rates.
They give the
option of giving quotations F.O.B., Indian port or C.I.F. to customers
warehouse.
They undertake
orders for big projects at very competitive price and ensure ontime delivery
for the same.
They provide free
samples to existing and new customers as and when required.
All enquiries and
quote requests are replied to within 24 hours.
Milestone Global
Limited constantly tracks the containers on the way to customers and provides
there with shipment schedules. This enables customers to take delivery of
containers on time.
All problems faced
by customers are attended to urgently and corrective action wherever required
is taken promptly.
UNAUDIATED FINANCIAL RESULTS FOR THE YEAR ENDED 31ST
DECEMBER 2010
(Rs. in Millions)
|
Particulars |
Quarter Ended Current Period 31.12.2010 |
Nine Months
Ended 31.12.2010 |
|
1.a) Net Sales/ Income form Operations |
29.447 |
78.904 |
|
b) Other Operating Income |
-- |
-- |
|
Total |
29.447 |
78.904 |
|
2. Expenditures |
|
|
|
a) Increase/ Decrease in Stock in trade |
4.725 |
[0.538] |
|
b) Material Consumption |
11.654 |
16.737 |
|
c) Staff Cost |
4.861 |
15.885 |
|
d) Power and Fuel |
1.091 |
3.317 |
|
e) Selling and Distribution Expenses |
3.820 |
9.924 |
|
f) Depreciation |
1.075 |
4.445 |
|
g) Other Expenditure |
1.191 |
6.714 |
|
Total |
28.417 |
76.484 |
|
3. Profit from Operations before Online
Income, Interest and Exceptional Items (1-2) |
1.030 |
2.420 |
|
4. Other Income |
0.005 |
0.074 |
|
5. Profit before interest and exceptional
Item (3-4) |
1.035 |
2.494 |
|
6. Interest |
1.099 |
2.993 |
|
7. Profit/ Loss after Interest but before
Exceptional Item (5-6) |
[0.064] |
[0.499] |
|
8. Exceptional Item |
-- |
-- |
|
9. Profit/ Loss from ordinary Activities
before tax (7-8) |
[0.064] |
[0.499] |
|
10. Tax Expenses |
0.070 |
0.070 |
|
11. Net Profit/ Loss from ordinary
activities after tax (9-10) |
0.006 |
[0.429] |
|
12. Extraordinary Items (Net of Tax
expenses) |
-- |
-- |
|
13. Net Profit/ Loss for the period (11-12) |
0.006 |
[0.029] |
|
14. Paid up Equity Shares Capital (Face
value Rs. 10/- each) |
50.175 |
50.175 |
|
15. Reserve |
-- |
-- |
|
16. Earning per share (EPS) Basic and
Diluted (Not Annualized) |
0.0012 |
[0.09] |
|
17. Public Shareholding |
|
|
|
- Number of Shares |
2277405 |
2277405 |
|
- Percentage of Shareholding |
45.39 |
45.39 |
|
18. Promoters and Promoters Group
Shareholding |
|
|
|
A. Pledged/ Encumbered |
|
|
|
- No. of Shares |
-- |
-- |
|
- % of shares (as a % of the total Shareholding
of promoter and promoter group) |
-- |
-- |
|
- % of share (as a % of the total Share
capital of the company) |
-- |
-- |
|
B. Non Encumbered |
|
|
|
- No. of Shares |
2740095 |
2740095 |
|
- % of shares (as a % of the total Shareholding
of promoter and promoter group) |
100.00 |
100.00 |
|
- % of share (as a % of the total Share
capital of the company) |
54.61 |
54.61 |
|
|
|
|
|
1. Segment Revenue |
|
|
|
a. Segment – |
15.788 |
40.239 |
|
b. Segment- Europe |
8.853 |
29.161 |
|
c. Segment- New Zealand |
4.806 |
9.504 |
|
Total |
29.447 |
78.904 |
|
2. Segment Results |
|
|
|
a. Segment – |
1.131 |
3.539 |
|
b. Segment- Europe |
0.635 |
2.564 |
|
c. Segment- New Zealand |
0.344 |
0.836 |
|
Total |
2.110 |
6.939 |
|
Less: Interest |
1.099 |
2.993 |
|
Less: Unallocable Expenditure |
1.075 |
4.445 |
|
Total Profit/ Loss Before Tax |
[0.064] |
[0.499] |
|
3. Capital Employed |
|
|
|
a. Segment – |
11.724 |
11.724 |
|
b. Segment- Europe |
20.096 |
20.096 |
|
c. Segment- New Zealand |
4.816 |
4.816 |
|
Total |
36.635 |
36.635 |
Notes:
- The above results were taken on record by the Audit Committee and by
the Board in the meeting held on 12.02.2011.
- Previous year quarter figure have been regrouped/ recanted to make
them comparable
- Segment report is based on Geographic Segment with Classification by
Location of Customers.
- Investor grievances are At the beginning of the quarter Nil,
received during the quarter- Nil
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.45.18 |
|
|
1 |
Rs.72.79 |
|
Euro |
1 |
Rs.62.15 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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.