MIRA
INFORM REPORT
|
Report Date : |
06.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
MEGA RUBBER TECHNOLOGIES PRIVATE LIMITED |
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Registered
Office : |
Unit No.77,
Mistry Industrial Complex, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
11.01.1995 |
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Com. Reg. No.: |
11-084554 |
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Capital Investment
/ Paid-up Capital : |
Rs.30.800
Millions |
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|
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CIN No.: [Company Identification
No.] |
U25110MH1995PTC084554 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM19218D /
MUMM10324G |
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PAN No.: [Permanent Account No.] |
AAACM7425N |
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Legal Form : |
Private Limited
Liability Company. |
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Line of Business
: |
Manufacturer of
Rubber Products. |
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No. of Employees
: |
80
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 661000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having 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.
INFORMATION PARTED BY
|
Name : |
Mr. Neel Sujan |
|
Designation : |
Director |
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Contact No.: |
91-22-26870441 |
|
Date : |
05.05.2011 |
LOCATIONS
|
Registered Office : |
Unit No.77,
Mistry Industrial Complex, |
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Tel. No.: |
91-22-26870441/
26871769/ 26872696/ 26870330/ 26870331/ 26870360 |
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Fax No.: |
91-22-26877339 |
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E-Mail : |
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Website : |
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Area : |
4500 Sq. ft
(App.) |
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Location : |
Owned |
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Corporate
Office/ Factory 1 : |
Building No. 1, Agarwal
Udyog Nagar Waliv, |
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Tel. No.: |
91-250-2456426/
2456430/ 2454365/ 2454520 |
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Fax No.: |
91-250-2454519 |
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Factory 2 : |
431/ Sector-8, IMT Manesar, Gurgaon, |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Neel Rewachand Sujan |
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Designation : |
Managing Director |
|
Address : |
802/902, |
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Date of Birth/Age : |
05.08.1975 |
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Date of Appointment : |
07.09.1996 |
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DIN No.: |
01424276 |
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Name : |
Mr. Tulsi Rewachand Sujan |
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Designation : |
Director |
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Address : |
401/402,
Gulshan, Junction of Ahinsa Marg, and |
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Date of Birth/Age : |
18.03.1949 |
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Qualification : |
B.E. (Mechanical) |
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Date of Appointment : |
11.01.1995 |
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DIN No.: |
01561095 |
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Name : |
Mr. Jayprakash Khanchand Vasdani |
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Designation : |
Director |
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Address : |
703-C, Ganga
Estate, |
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Date of Birth : |
12.04.1955 |
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Date of Appointment : |
04.07.1997 |
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DIN No.: |
01424172 |
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Name : |
Mr. Ashok Rewachand Sujan |
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Designation : |
Director |
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Address : |
1701, Green Acre, Flat No. 325, Lokhandwala Complex, Andheri (West),
Mumbai – 400 058, |
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Date of Birth : |
20.12.1950 |
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Date of Appointment : |
04.07.1997 |
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DIN No.: |
01424203 |
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Name : |
Mr. Vijay Jeewan Sujan |
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Designation : |
Director |
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Address : |
B 3 / 6, Basant Park, |
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Date of Birth/Age : |
15.07.1974 |
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Date of Appointment : |
15.03.1997 |
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DIN No.: |
02420980 |
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Name : |
Mr. Harish Rewachand Sujan |
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Designation : |
Director |
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Address : |
B 4/6, Basant Park, |
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Date of Birth : |
24.08.1946 |
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Date of Appointment : |
04.07.1997 |
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DIN No.: |
02420984 |
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Name : |
Mr. Ghanshyam Rewachand Sujan |
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Designation : |
Director |
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Address : |
901, Buena
Vista, |
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Date of Birth/Age : |
10.07.1954 |
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Date of Appointment : |
07.09.1996 |
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DIN No.: |
02420985 |
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|
Name : |
Mr. Pramod Kumar Sharma |
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Designation : |
Director |
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Address : |
1101, Kritika
Annexie, Plot No. 11, Sion-Trombay Road, Near R.K. Studio- Chembur, Mumbai -
400 071, Maharashtra, India |
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Date of Birth/Age : |
18.11.1956 |
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Date of Appointment : |
10.08.1998 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2010)
|
Names of Shareholders |
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No. of Shares |
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Harish Rewachand Sujan Jointly with Mrs.
Padma Harish Sujan |
|
327800 |
|
Harish Rewachand Sujan H.U.F. |
|
55000 |
|
Ghanshyam Rewachand Sujan Jointly
with Mrs.Kanchan Sujan |
|
325600 |
|
Ghanshyam Rewachand Sujan |
|
55000 |
|
Tulsi Rewachand Sujan Jointly with Mrs.
Kamal Tulsi Sujan |
|
333300 |
|
Tulsi Rewachand Sujan H.U.F. |
|
55000 |
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Ashok Rewachand Sujan Jointly with Mrs.
Manisha Ashok Sujan |
|
325600 |
|
Ashok Rewachand Sujan H.U.F. |
|
55000 |
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Neel Rewachand Sujan Jointly with Mrs.
Sheetal Neel Sujan |
|
325600 |
|
Neel Rewachand Sujan H.U.F. |
|
55000 |
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Vijay Jeevan Sujan Jointly with Mrs.
Sarvinder Vijay Sujan |
|
311300 |
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Jai Prakash Vasdani Jointly with Mrs.
Vijaylakshmi Vasdani |
|
380,600 |
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Pramod Kumar Sharma Jointly with Mrs. Pinky
Pramod Sharma |
|
381,700 |
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Usha Jeevan Sujan Jointly with Mr. V. Sujan |
|
4400 |
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Padma Harish Sujan Jointly with Mr. Harish Sujan |
|
4400 |
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Kamal Tulsi Sujan Jointly with Mr. Tulsi
Sujan |
|
4400 |
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Manisha Ashok Sujan Jointly with Mr. Ashok
Sujan |
|
4400 |
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Vijaylakshi Vasdani Jointly with Mr.
Jaiprakash Vasdani |
|
4400 |
|
Kanchan R. Sujan Jointly with Mr. Ghanshyam
Sujan |
|
4400 |
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Sheetal N. Sujan Jointly with Mr. Neel Sujan |
|
4400 |
|
Pinky Pramod Sharma Jointly with Mr. Pramod
Sharma |
|
3300 |
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Satvinder V. Sujan Jointly with Mr. Vijay
Sujan |
|
4400 |
|
Jeevan Sujan H.U.F. |
|
55000 |
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|
|
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Total |
|
3080000 |
(AS ON 30.09.2010)
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Equity Share Breakup |
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Percentage of Holding |
|
Category |
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Directors
or relatives of directors |
|
100.00 |
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BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Rubber Products. |
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Products : |
Ř
Rubber
Compound Ř
Rubber
Products Ř
Moulded
Rubber Goods |
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Exports : |
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Products : |
Moulded Goods |
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Countries : |
· UK USA New York |
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Imports : |
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Products : |
Rubber Chemicals |
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Countries : |
· Singapore Japan |
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Terms : |
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Selling : |
Cash and Credit (30-60-90 days) |
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Purchasing : |
Cash and Credit (30-60-90 days) |
GENERAL INFORMATION
|
Suppliers : |
Ř
Caitaied
Industrial Company Limited Ř
Tzell
Machinery Company Limited Ř
Blue
Dart Express Limited Ř
Gemini
Steel Tubes Limited Ř
Mahindra
Sintered Products Limited Ř
Om
Airfreight Limited Ř
Special
Paints Limited |
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Customers : |
End Users and OEM’s Ř
Rai
Industries Inc Ř
Gabreil
India Limited Ř
Ford
India Limited Ř
Maruti
Udyog Limited Ř
Mumbai
Showa Limited Ř
Sunbeam
Auto Limited |
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No. of Employees : |
80
(Approximately) |
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Bankers : |
Ř
State
Bank of India MIDC Branch,
Andheri (East), Mumbai – 400 093, Maharashtra, India Ř
State
Bank of India SBI Cargo
Complex, Mumbai, Maharashtra, India Ř
State
Bank of India Nawha Shewa,
Mumbai, Maharashtra, India Ř
ICICI
Bank Limited Vasai,
Maharashtra, Maharashtra, India Ř
Hongkong
and Shanghai Banking Corporation Limited Network Service
Centre, Sudam Kalu Ahire Marg, Worli, Mumbai - 400 025, Maharashtra, India Ř
Citi
Bank, N.A. Citi Business,
Citi Centre, 2nd Floor, Bandra Kurla Complex, Bandra (East),
Mumbai – 400 051, Maharashtra, India Ř
Citi
Bank, N.A., Trent House, 2nd
Floor, G Block, Plot No.C60, Bandra Kurla Complex, Bandra (East), Mumbai –
400 051, Maharashtra, India Ř
State Bank of Hyderabad Andheri (East), Mumbai, Maharashtra, India Ř
State Bank of Hyderabad, Manesar Ř
Kotak Mahindra Bank, Vasai (East) Ř
Standard
Chartered Bank, Mumbai Ř
HDFC Bank Ř
Axis Bank, Vasai (East) |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Rohira Mehta and
Associates Chartered Accountants |
|
Address : |
B-202, 2nd
Floor, Grand Bella Vista, Near Jari Mari Temple, |
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Tel. No.: |
91-22-42084500 |
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Fax No.: |
91-22-42084501 |
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E-Mail : |
CAPITAL STRUCTURE
(AS ON 31.03.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5500000 |
Equity Shares |
Rs.10/- each |
Rs.55.000 millions |
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|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3080000 |
Equity Shares |
Rs.10/- each |
Rs.30.800
millions |
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|
|
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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 |
30.800 |
30.800 |
30.800 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
134.328 |
115.588 |
104.698 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
165.128 |
146.388 |
135.498 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
149.145 |
103.310 |
104.792 |
|
|
2] Unsecured Loans |
25.000 |
30.000 |
10.000 |
|
|
TOTAL BORROWING |
174.145 |
133.310 |
114.792 |
|
|
DEFERRED TAX LIABILITIES |
2.046 |
4.471 |
4.868 |
|
|
|
|
|
|
|
|
TOTAL |
341.319 |
284.169 |
255.158 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
168.435 |
141.468 |
117.768 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
64.920
|
66.524 |
54.181 |
|
|
Sundry Debtors |
151.153
|
128.754 |
99.070 |
|
|
Cash & Bank Balances |
1.494
|
1.079 |
1.396 |
|
|
Other Current Assets |
4.347
|
4.667 |
3.356 |
|
|
Loans, Advances & Deposits |
49.944
|
34.893 |
28.801 |
|
Total
Current Assets |
271.858
|
235.917 |
186.804 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
70.123
|
79.458 |
39.737 |
|
|
Other Current Liabilities |
10.883
|
6.201 |
7.006 |
|
|
Provisions |
18.082
|
7.702 |
2.847 |
|
Total
Current Liabilities |
99.088
|
93.361 |
49.590 |
|
|
Net Current Assets |
172.770
|
142.556 |
137.214 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.114 |
0.145 |
0.176 |
|
|
|
|
|
|
|
|
TOTAL |
341.319 |
284.169 |
255.158 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Total Turnover |
561.746 |
480.610 |
409.459 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
83.185 |
55.413 |
38.752 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
17.502 |
13.551 |
10.676 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
65.683 |
41.862 |
28.076 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
37.941 |
26.264 |
25.285 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
27.742 |
15.598 |
2.791 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
9.655 |
4.672 |
0.108 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
18.087 |
10.926 |
2.683 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
107.635 |
96.745 |
94.062 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Wealth Tax Paid |
-- |
0.036 |
-- |
|
|
|
Earlier Years Tax adjustments |
(0.652) |
-- |
-- |
|
|
BALANCE CARRIED
TO THE B/S |
126.437 |
107.635 |
96.745 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
82.676 |
82.385 |
71.274 |
|
|
TOTAL EARNINGS |
82.676 |
82.385 |
71.274 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.08 |
3.54 |
0.87 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover |
|
|
650.000 |
|
|
|
|
|
Expected Sales (2011-12): Rs.750.000 Millions
The above information has been parted by Mr. Neel Sujan.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Net Profit Margin (PBT/Sales) |
(%) |
3.22
|
2.27 |
0.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.30
|
4.13 |
0.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.11 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.65
|
1.55 |
1.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.74
|
2.53 |
3.77 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS DETAILS:
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
(Rs.
In Millions) |
||
|
|
|
|
|
|
Sundry Creditors |
70.123
|
79.458 |
39.737 |
|
|
|
|
|
|
Total |
70.123
|
79.458 |
39.737 |
NOTE:
The registered office of the company has been shifted from 90, Mistry Industrial Complex,
OPERATIONS
The Local sales
Turnover during the year are at Rs.482.587 millions as against last year’s
Rs.416.004 millions and Export Turnover achieved was Rs.79.159 millions as
against Rs.64.606 millions in the previous year. Overall, the company has
achieved a turnover of Rs.561.746 millions as against Rs.480.610 millions,
reflecting a growth of 16.9% in total turnover. During the year, the company
set up its manufacturing facility in Manesar near
FUTURE OUTLOOK
The Automobile
Sector is expected to maintain its growth rate of about 10 to 12%. However, the
margins continue to be and are expected to be under pressure in the years to
come. Under the scenario, the management proposes to continue to enhance the
capacity by adding new machines as also extend cost reduction and
rationalization measures, to boost the performance positively.
TRADE REFERENCE:
· Ford India Limited
Gemini
Steel Tubes Limited
FORM 8:
|
Corporate
identity number of the company |
U25110MH1995PTC084554 |
|
Name of the
company |
MEGA RUBBER TECHNOLOGIES PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Unit No.77,
Mistry Industrial Complex, E-Mail: admin@megarubbertech.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Citi Bank, N.A.,
Trent House, 2nd Floor, G Block, Plot No.C60, Bandra Kurla
Complex, Bandra (East), Mumbai – 400 051, Maharashtra, India E-Mail: vlaxman@vsnl.com |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum |
|
Date of
instrument Creating the charge |
06/04/2010 |
|
Amount secured by
the charge |
Rs.43.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
Interest as may be stipulated by the Bank from time to time Terms of
Repayment: On Demand Margin: As may be
stipulated by the Bank from time to time. Extent and
Operation of the charge: The Company created an equitable mortgage by deposit
of title deeds with State Bank of Hyderabad (SBH) and SBH acting for itself
as well as agent of Citibank N.A, in respect of its immovable properties as
stated under item No.15 as security
for the due repayment of Rs.43.000 millions
(Comprising : CC of Rs.40.000 millions and LC (FLC/ILC) of Rs.3.000
millions) granted by Citibank N.A. to Company, together with interest,
liquidated damages, costs, charges and expenses etc. Others: The
charge created/to be created on Company's immovable property in favour
of Citibank for its Working Capital
Limit of Rs.43.000 millions shall rank Second and subservient to the charge
created/to be created in favour of SBH for its facilities of Rs.155.000
millions. |
|
Short particulars
of the property charged |
Immovable
Properties situated at Unit No.5 Ground Floor, Building No.1A, 'Agarwal Udyog
Nagar, (Extension 1), (Owned by Mega Rubber Technologies Private Limited) Immovable
Properties situated at Unit Nos.1,2,3 and 4, Ground Floor, Building
No.1, Agarwal Udyog Nagar, (Owned by
Mega Rubber Technologies Private Limited) Immovable
Properties situated at Unit Nos.1 to 4, Gram Panchayat House Nos.2607/1,
2608/2, 2609/3, 2610/4 (Owned by Mega Rubber Technologies Private Limited) |
|
Name of the company |
MEGA RUBBER TECHNOLOGIES PRIVATE LIMITED |
|
Presented By |
MEGA RUBBER TECHNOLOGIES PRIVATE LIMITED |
|
1) Date and description of instrument creating the change |
By hypothecation
agreement dated 25.01.2002 |
|
2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 0.165
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 |
Moulds for
manufacturing rubber mould goods P/N No. X561 –
5A262-AA-HNGR P/N No. X56Y –
14603 – AB |
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
Advance for
design and developing moulds Tooling
moderation Rs. 0.165 Millions Advance recovery
Rs. 0.165 Millions over 200000 Nos. IZECES |
|
5) Name and Address and description of the person entitled to the
charge. |
Ford India
Limited SP KOIZ,
Chenglepoy, 603204, Kancheepuram, |
|
6) Date and brief description
of instrument modifying the charge |
NA |
|
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. |
NA |
CONTINGENT LIABILITIES NOT PROVIDED FOR IN RESPECT OF :- (AS ON
31.03.2010)
i) The Central Excise Authorities have made a claim of Rs.0.294 million
(P.Y. Rs.0.294) in respect of Cenvat credit availed by the company on finished
goods rejected by the customers.
ii) Central Excise Duty of Rs.0.422 million (P.Y. Rs.0.422 million) is under
dispute in respect of amortisation of Tool / Die cost in assessable value of
final product.
iii) The company has provided corporate guarantee to
a) Citibank N.A.
in respect of credit facilities availed, aggregating to Rs.94.000 millions
(P.Y. Rs. 102.000 millions) by sister concern Polyrub Extrusions (
c) Standard Chartered Bank in respect of credit facilities and term loan availed,
aggregating to Rs.120.400 millions (P.Y Rs.100.000 millions) by sister concern
Polyrub Extrusions (
iv) The Company has provided bank guarantee to various government
authorities and Letter of undertaking for Custom duty and for materials
aggregating to Rs.28.748 millions (P.Y. Rs.7.056 millions)
FIXED ASSETS
Ř
Building
Ř
Plant
and Machinery
Ř
Laboratory
Equipment
Ř
Office
Equipment
Ř
Furniture
and Fixture
Ř
Computers
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.44.20 |
|
|
1 |
Rs.72.25 |
|
Euro |
1 |
Rs.63.09 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.