BUSINESS INFORMATION REPORT
1. Summary Information
|
|
|
Country |
|
|
Company Name |
TIRUMALA MUSIC
CENTRE PRIVATE LIMITED |
Principal Name 1 |
MR. AMARNATH
NANGUNURI |
|
Status |
SATISFACTORY |
Principal Name 2 |
MR. UMAYANI
NANGUNURI |
|
|
|
Registration # |
01-011076 |
|
Street Address |
16-10-27-105/10, NANGUNURI COMPLEX, MUNICIPAL COLONY, MALAKPET, |
||
|
Established Date |
02.03.1990 |
SIC Code |
-- |
|
Telephone# |
91-40-24551566 |
Business Style 1 |
TRADERS |
|
Fax # |
91-40-24552657 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
ELECTRONIC ITEMS |
|
|
# of employees |
65 |
Product Name 2 |
HOME PRODUCTS |
|
Paid up capital |
Rs.45,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
DIRECTORS OR
RELATIVES OF DIRECTORS – 100% |
Banking |
UNION BANK OF |
|
Public Limited Corp. |
NO |
Business Period |
20 YEARS |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
ASSOCIATES |
|
TIRUMALA HOMES PRIVATE LIMITED |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.20110 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
111,056,000 |
Current Liabilities |
161,561,000 |
|
Inventories |
153,224,000 |
Long-term Liabilities |
68,677,000 |
|
Fixed Assets |
59,870,000 |
Other Liabilities |
16,618,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
246,856,000 |
|
Invest& other Assets |
19,928,000 |
Retained Earnings |
52,222,000 |
|
|
|
Net Worth |
97,222,000 |
|
Total Assets |
344,078,000 |
Total Liab. & Equity |
344,078,000 |
|
Total Assets (Previous Year) |
251,210,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
2,251,948,000 |
Net Profit |
29,280,000 |
|
Sales(Previous yr) |
1,944,881,000 |
Net Profit(Prev.yr) |
21,372,000 |
MIRA
INFORM REPORT
|
Report Date : |
28.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
TIRUMALA MUSIC
CENTRE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
16-10-27-105/10, Nangunuri Complex, Municipal Colony, Malakpet, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
02.03.1990 |
|
|
|
|
Com. Reg. No.: |
01-011076 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909AP1990PTC011076 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDTO1046D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT8339A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Traders of Electronic Items and Home Products. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 389000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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|
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|
Comments : |
Subject is well established
company with satisfactory track. Trade relations are reported as fair.
Business is active. Payments are reported to be usually correct 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.
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/
Head Office : |
16-10-27-105/10,
Nangunuri Complex, Municipal Colony, Malakpet, |
|
Tel. No.: |
91-40-24551566/ 24555577/
24549879/ 23316455 |
|
Fax No.: |
91-40-24552657/
23316499 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Corporate
Office : |
2nd
Floor, Lenaine Estate, Abids, |
|
Tel. No.: |
91-40-23202586/
23204038/ 65664444/ 65662222 |
|
|
|
|
Corporate
Office / Factory : |
# 6-3-249/3/2,
Lane Beside Fusion 9, Road No. 1, Banjara Hills, |
|
Tel. No.: |
91-40-23316455 /
6466 |
|
Fax No.: |
91-40-23316499 |
|
E Mail: |
|
|
|
|
|
Show Rooms : |
·
Kukatpally : Dr. Atmaram Estate, Hydernagar, ·
Begumpet : Near Airport Flyover, Begumpet, ·
Malakpet : · ABIDS : Ground Floor, Lenaine Estate ·
Putlibowli : MCH Complex, Putlibowli, ·
Cellone : Sri Krupa Market, ·
A · Tirupati · Vijaywada ·
|
|
|
|
|
Branch Office
: |
· ABIDS- Lenaine Estate ·
Butlibowli – MCH Complex, Koti, ·
Begumpet – Near |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Amarnath
Nangunuri |
|
|
Designation : |
Chairman and
Managing Director |
|
|
Address: |
Prashansan Nagar,
Road No. 72, Jubilee Hills, |
|
|
Date of
Birth/Age : |
25.05.1969 |
|
|
Date of
Appointment : |
02.03.1990 |
|
|
DIN No.: |
01490442 |
|
|
|
|
|
|
Name : |
Mr. Umayani
Nangunuri |
|
|
Designation : |
Whole Time
Director |
|
|
Address: |
Prashansan Nagar,
Road No. 72, Jubilee Hills, |
|
|
Date of
Birth/Age : |
04.03.1971 |
|
|
Date of
Appointment : |
01.04.2002 |
|
|
DIN No.: |
02047918 |
|
|
|
|
|
|
Name : |
Mr. Praveen Kumar
Nangunuri |
|
|
Designation : |
Director |
|
|
Address: |
Plot No. 144, SBI
Colony, Motilal Nehru Nagar, Begumpet, |
|
|
Date of
Birth/Age : |
19.02.1980 |
|
|
Date of
Appointment : |
24.08.2007 |
|
|
DIN No.: |
01871305 |
|
|
|
|
|
|
Name : |
Mr. Venkatesh Nangunuri |
|
|
Designation : |
Director |
|
|
Address : |
1-11-252/31, Motilala Nehru Nagar, Begumpet, |
|
|
Date of Birth/Age : |
22.12.1977 |
|
|
Date of Appointment : |
24.08.2007 |
|
|
DIN No.: |
00464062 |
|
|
|
|
|
|
Name : |
Mr. Chandra
Sekhar Nangunuri |
|
|
Designation : |
Director |
|
|
Address: |
Plot No.2, SBI
Colony, Motilal Nehru Nagar, Begumpet, |
|
|
Date of
Birth/Age : |
20.05.1959 |
|
|
Date of
Appointment : |
02.03.1990 |
|
|
Ceasing Date : |
30.03.2006 |
|
KEY EXECUTIVES
|
Name : |
Mr. T. Gaori Sankar |
|
Designation : |
Finance Head |
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|
|
|
Name : |
S.S. Ranjit Kumar |
|
Designation : |
GM (Sales and Op.) |
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|
|
|
Name : |
Mr. |
|
Designation : |
Senior Manager – Customer Care |
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|
|
|
Name : |
Mr. Srinivas Gupta |
|
Designation : |
Senior Manager (Institutional Sales) |
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|
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|
Name : |
Mr. Balkrishan |
|
Designation : |
Senior Manager – Credit Services (Consumer Finance) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of
Shareholders |
No. of Shares |
|
Nangunuri
Amarnath |
2340135 |
|
Nangunuri Umayani
|
359865 |
|
Nangunuri
Venkatesh |
900000 |
|
Nangunuri Praveen
kumar |
900000 |
|
Total |
4500000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
|
Directors or
relatives of directors |
100.00 |
BUSINESS DETAILS
|
Line of
Business : |
Traders of
Electronic Items and Home Products. |
|
|
|
|
Products : |
·
Consumer Electronics ·
Home Appliances ·
Water Cooler ·
Tape Recorder ·
Deck ·
Television ·
VCR, DVD Player and DVD
Recorder ·
Washing Machine ·
Refrigerator ·
Radio ·
Air Conditioner ·
Fan ·
Still Camera ·
Video Camera ·
Camcorder ·
Video Game ·
MP3 Player ·
Microwave ·
Dish Washer ·
Toaster ·
Mixies and Grinder ·
Vaccume Cleaner ·
Iron Box ·
Water Heater ·
Car Audio ·
Telephone ·
Digital Camera ·
Sewing Machine |
GENERAL INFORMATION
|
No. of
Employees : |
65
(Approximately) |
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Bankers : |
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Facilities : |
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Banking Relations : |
Satisfactory |
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Auditors : |
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|
Name : |
Venugopal and
Chenoy Chartered
Accountants |
|
Address : |
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|
(As on 31.03.2009) |
|
Associates : |
· TMC Premium · Tirumala Homes Private Limited · Tirumala Balaji Chit Funds Private Limited · Tirumala Infotech and Communications
Limited · Tirumala Ecom · IT Hub · Tirumala Electronics, Vizag, |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/-each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs.45.000 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 |
45.000 |
45.000 |
5.000 |
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
3] Reserves & Surplus |
52.222 |
22.942 |
41.570 |
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
NETWORTH
|
97.222 |
67.942 |
46.570 |
|
LOAN FUNDS |
|
|
|
|
1] Secured Loans |
68.677 |
14.456 |
0.000 |
|
2] Unsecured Loans |
0.000 |
0.000 |
9.079 |
TOTAL BORROWING
|
68.677 |
14.456 |
9.079 |
|
DEFERRED TAX LIABILITIES |
1.688 |
1.300 |
0.670 |
|
|
|
|
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TOTAL
|
167.587 |
83.698 |
56.319 |
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
59.870 |
52.242 |
39.860 |
|
Capital work-in-progress |
1.237 |
0.413 |
4.248 |
|
|
|
|
|
|
INVESTMENTS |
18.691 |
1.000 |
1.400 |
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
Inventories |
153.224 |
126.508 |
106.211 |
|
Sundry Debtors |
8.774 |
15.590 |
22.393 |
|
Cash & Bank Balances |
57.288 |
22.112 |
42.088 |
|
Other Current Assets |
0.256 |
0.752 |
18.205 |
|
Loans & Advances |
44.738 |
32.593 |
28.483 |
|
Total Current
Assets |
264.280 |
197.555 |
217.380 |
Less:
CURRENT
LIABILITIES & PROVISIONS
|
|
|
|
|
Sundry Creditors |
158.822 |
145.296 |
176.820 |
|
Current Liabilities |
2.739 |
2.276 |
18.195 |
|
Provisions |
14.930 |
19.940 |
16.054 |
Total Current Liabilities
|
176.491 |
167.512 |
211.069 |
Net Current Assets
|
87.789 |
30.043 |
6.311 |
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
4.500 |
|
|
|
|
|
TOTAL
|
167.587 |
83.698 |
56.319 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
2251.948 |
1944.881 |
1726.717 |
|
|
|
Other Income |
170.981 |
144.164 |
|
|
|
|
TOTAL (A) |
2422.929 |
2089.045 |
1726.717 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
2112.185 |
1841.714 |
|
|
|
|
Personnel Expenses |
46.730 |
42.662 |
|
|
|
|
Administrative & Other Expenses |
75.337 |
64.776 |
|
|
|
|
Selling Expenses |
147.717 |
104.545 |
|
|
|
|
Miscellaneous Expenditure Written off |
0.000 |
0.349 |
|
|
|
|
Increase/ Decrease in Stocks |
(26.716) |
(20.297) |
|
|
|
|
TOTAL (B) |
2355.253 |
2033.749 |
1676.333 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
67.676 |
55.296 |
50.384 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
16.030 |
6.933 |
8.434 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
51.646 |
48.363 |
41.950 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.145 |
4.912 |
1.860 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
45.501 |
43.451 |
40.090 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
16.221 |
22.079 |
17.112 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
29.280 |
21.372 |
22.978 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
29.280 |
21.372 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.51 |
4.75 |
45.96 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.21
|
1.02
|
1.33
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.02
|
2.23 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.04
|
17.61
|
15.58
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.47
|
0.64
|
0.86
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.52
|
2.68
|
4.73
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.50
|
1.18
|
1.03
|
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE
REVIEW:
During the Financial Year, the company has achieved Turnover of
Rs.2252.000 millions with growth rate of 15.80% against Rs.1944.900 millions in
the corresponding previous year. Even though, the economy was in the grip of
global recession conditions and the Company faced tough market competition with
the entry of new players in the retail field, the company did significant
growth in the turnover and retained its existing customer base. As TMC is well
known for its quality products and prompt after sales customer service, the
Company is confident of future prospects.
BUSINESS
PROSPECTS:
The company continues to be the most preferred and the best retailer for
consumer electronics and home appliances in the State of
Bankers Charges
Report as per Registry
|
Name of the company |
TIRUMALA MUSIC
CENTRE PRIVATE LIMITED |
|
Presented By |
Mr. N Amarnath, Executive Director |
|
1) Date and description of instrument creating the change |
Dated 06.02.2002 hypothecation Agreement of Goods and Debts in from SD-06 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Cash Credit of Rs. 7.500 Millions |
|
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 |
Hypothecation of fully paid up and insured stocks and book debt R.O.I – 15% |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Goods older than 3 months shall not rank for drawing power. Book debts older than 90 days shall not rank for drawing power. |
|
5) Name and Address and description of the person entitled to the charge. |
Union Bank of |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
|
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. |
Not Applicable |
|
Corporate
identity number of the company |
U31909AP1990PTC011076 |
|
Name of the
company |
TIRUMALA MUSIC
CENTRE PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
16-10-27-105/10,
Nangunuri Complex, Municipal Colony, Malakpet, |
|
This form is for |
Creation of
Charge |
|
Type of charge |
|
|
Particular of
charge holder |
Kotak Mahindra
Bank Limited, 36-38, Nariman Bhavan, 227-D, Nariman Point, Mumbai-400021, |
|
Nature of instrument
creating charge |
Deed of
Hypothecation |
|
Date of
instrument Creating the charge |
21.09.2009 |
|
Amount secured by
the charge |
Rs. 85.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest CC : 12.75% p.a.
Interest, Rate is linked to Bank’s Benchmark PLR Term Loan :
13.75% p.a. Interest Rate is linked to Bank’s Benchmark PLR WCDL : As deemed
fit by the bank at the time of disbursement Terms of
Repayment Term Loan : Loan
shall be repaid by way of 36 EMIs starting from the month following the month
of First disbursement of Term Loan WCDL: on demand
as per terms and conditions as deemed fit by the bank Margin Term Loan : 40%
on Bills/ Invoices/ Architect Certificate/ Outstanding Statement of the bank/
CA certificate WCD : On Demand
as per terms and conditions as deemed fit by the bank Extent and
Operation of the charge First and
exclusive charge on all existing and future current asserts and movable fixed
asset of the company is favour of Kotak Mahindra Bank, as security for the
facilities granted by the bank to the company |
|
Short particulars
of the property charged |
The whole of the
borrower’s present and future current assets and movable fixed including movables
fixed assets both present and future. |
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U31909AP1990PTC011076 |
|
Name of the
company |
TIRUMALA MUSIC
CENTRE PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
16-10-27-105/10,
Nangunuri Complex, Municipal Colony, Malakpet, |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
ABN Amro Bank
N.V, 74, Sakhar Bhavan, 7th Floor, Nariman Point, Mumbai-400021, |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation of Movable Assets |
|
Date of
instrument Creating the charge |
14.05.2008 |
|
Amount secured by
the charge |
Rs. 45.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Credit
Facilities: Interest/ Commission
– As agreed by and with the bank form time to time Terms of
Repayment As agreed by and
with the bank from time to time Margin As applicable, if
any. Extent and
Operation of the charge The Bank is
having exclusive first charge on the security offered by the company |
|
Short particulars
of the property charged |
Hypothecation by
way of exclusive charge on the whole of the current assets of the borrower
namely, stocks of raw materials, stock in process, semi finished and finished
goods, stores and spares not relating to plant and machinery (consumable
stores and spares), bills receivables and book debts and all other movables,
both present and future. |
CONTINGENT
LIABILITIES: (As on 31.03.2010)
a) Counter Guarantees given to Banks for guarantees issued by them
Rs.1.000 million.
b) Claims against the company not acknowledged as debts – Rs.5.516
millions.
FIXED ASSETS:
·
Land
·
Buildings
·
Vehicles
·
Computers
·
Office Equipments
·
Furniture and Fixtures
·
Goodwill
WEBSITE DETAILS:
Profile:
The Nangunuri family established Subject in 1980, with
Amarnath as it’s front-end. By the mid-nineties, he was firmly into management,
paving the way for expansion and growth. Being customer-focused and always looking
to enhance convenience, Amarnath set out to set up new stores closer to the
fringes of the reach of every existing store.
Today, the stores that are popularly known as subject cover
all parts of
Each person at company is driven by the desire to have a
life time relationship with their customers and it has been the management’s
priority to make every purchase experience positively memorable. Small wonder,
the company enjoys the patronage of over 800 customers coming in every day and
the trust and loyalty of over 8 Lakhs customer families from across the city
and Tirupathi.
Awards – A Recognition to Commitment
Mr. Amarnath was honored with many awards for his commitment
towards customers and society, and achievements in business. The following is
the list of awards:
· AIIE
(All India Industrial Exhibition) – First Prize in Publicity Category for the
year 2007
· AIIE
(All India Industrial Exhibition) –best stall award for the year 2004
· LG No
1 Retailer Award on all India Basis for the year 2002
· LG
Best Dealer Award for the state year 1999 and 2000.
· BPL
Best Retailer Award 2000.
· Allwyn
and Kelvinator Outstanding Performer 2000.
· AIIE
(All India Industrial Exhibition) – First Prize in Publicity Category for 2
years.
· Overall
Excellence Award in 2000.
· Sony
Performance Excellence Award 1999.
· Symphony
Outstanding Performer 1999.
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 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.44.65 |
|
|
1 |
Rs.71.91 |
|
Euro |
1 |
Rs.63.28 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.