1. Summary Information
|
|
|
Country |
|
|
Company Name |
BHARTIYA
INTERNATIONAL LIMITED |
Principal Name 1 |
Mr. Snehdeep Aggarwal |
|
Status |
Good |
Principal Name 2 |
Mr. A. K. Gadhok |
|
|
|
Registration # |
55-26607 |
|
Street Address |
E-52,
New |
||
|
Established Date |
07.01.1987 |
SIC Code |
-- |
|
Telephone# |
91-11-26808177 /
26803201-02 |
Business Style 1 |
Manufacture |
|
Fax # |
91-11-26803485 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
Handmade Carpets |
|
# of employees |
3000
(Approximately) |
Product Name 2 |
Leather Garments |
|
Paid up capital |
Rs.86,638,000/- |
Product Name 3 |
-- |
|
Shareholders |
Shareholding of Promoter and Promoter
Group - 42.61% Public Shareholding - 57.39% |
Banking |
Corporation Bank |
|
Public Limited Corp. |
YES |
Business Period |
24 years |
|
IPO |
YES |
International Ins. |
- |
|
Public |
YES |
Rating |
A
(65) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associate
|
|
Bhartiya Prakash Leather |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
404,245,000 |
Current Liabilities |
259,781,000 |
|
Inventories |
321,208,000 |
Long-term Liabilities |
384,962,000
|
|
Fixed Assets |
235,237,000 |
Other Liabilities |
12,746,000 |
|
Deferred Assets |
0 |
Total Liabilities |
657,489,000 |
|
Invest& other Assets |
810,008,000 |
Retained Earnings |
1,011,521,000 |
|
|
|
Net Worth |
1,113,209,000 |
|
Total Assets |
1,770,698,000 |
Total Liab. & Equity |
1,770,698,000 |
|
Total Assets (Previous Year) |
1,978,017,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
1,644,934,000 |
Net Profit |
54,348,000 |
|
Sales(Previous yr) |
1,401,922,000 |
Net Profit(Prev.yr) |
27,166,000 |
MIRA
INFORM REPORT
|
Report Date : |
17.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
BHARTIYA INTERNATIONAL LIMITED |
|
|
|
|
Formerly Known As : |
BHARTIYA GALECHA INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
E-52, New |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
07.01.1987 |
|
|
|
|
Com. Reg. No.: |
5526607 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.86.638 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
L74899DL1987PLC026607 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELB06541D |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACB0728M |
|
|
|
|
Legal Form : |
Public Limited Liability Company. Company’s Shares are listed on the
Stock Exchange. |
|
|
|
|
Line of Business : |
Manufacture and |
|
|
|
|
No. of Employees : |
3000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 4400000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and a reputed company having
fine track. Financial position of the company appears to be sound. Trade relations
are reported as fair. Business is active. Payments are reported to be regular
and as per commitments. The company can be considered normal for business dealing 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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
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 : |
E-52, New |
|
Tel. No.: |
91-11-26808177 / 26803201-02 |
|
Fax No.: |
91-11-26803485 |
|
E-Mail : : |
|
|
Area : |
medium sized |
|
Location : |
Owned |
|
|
|
|
Head Office : |
25, R.B. Rattan Chand Road, Amritsar-143 001, |
|
|
|
|
Factory 1 : |
Factory (Leather Garments) No. 27/2, Village Gottigere, Uttarahalli
Hobli, ( |
|
Area : |
53.150 sq ft (Owned) |
|
Location : |
Industrial |
|
|
|
|
Factory 2 : |
330, EVR Periyar High Road, Rakhi Plaza, Aminji Karai, Chennai-600 029, Tamilnadu, India |
|
|
|
|
Factory 3 : |
Factory (Leather Garments) No. 27/ 2, Village Gottigere,
Uttarahalli Hobli, ( |
|
|
|
|
Overseas Offices ( |
World Fashion Trade Limited, Room 510, Tower 8, United Plaza No. 58, |
|
Tel. No.: |
86-571-86584857 |
|
Fax No.: |
86-571-86585057 |
|
|
|
|
Overseas Offices ( |
World Fashion Trade Limited, Room 605, 6/F, |
|
Tel. No.: |
91-852-23763611 |
|
Fax No.: |
91-852-27365115 |
|
|
|
|
Overseas Offices ( |
Branch: Via G. Amendola, 2, 50058, Signa (F1) Italy, Ultima Italia SRL
Via Dei Tigli, 4, 26010, Casaletto Vaprio (CR), Italy |
|
|
|
|
Overseas Offices( |
|
|
|
|
|
Overseas Offices ( |
BIL Group LIC, 149, |
|
|
|
|
Branches : |
Located at :- Chenai 330,EVR Periyar High Road, 3rd, |
DIRECTORS
|
Name : |
Mr. Snehdeep Aggarwal |
|
Designation : |
Managing Director |
|
Date of Birth/Age : |
10-11-1956 |
|
Qualification : |
MA, Economics |
|
Date of Appointment : |
07-01-1987 |
|
|
|
|
Name : |
Mr. A. K. Gadhok |
|
Designation : |
Whole Time Director |
|
Date of Birth/Age : |
10-03-1947 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01-04-1999 |
|
|
|
|
Name : |
Mr. Ramesh Bhatia |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. C. L. Handa |
|
Designation : |
Director |
|
Date of Birth/Age : |
3-03-1937 |
|
Qualification : |
B. Sc, CAIIB |
|
Date of Appointment : |
26-05-2004 |
|
|
|
|
Name : |
Mr. Sandeep Seth |
|
Designation : |
Director |
|
Address : |
J-101, Sainik
Farms, |
|
Date of Birth/Age : |
26-10-1964 |
|
Qualification : |
Chartered Accountant |
|
Date of Appointment : |
28-02-2002 |
|
|
|
|
Name : |
Mr. Nikhil
Aggarwal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Ananthakrishna
Sahasranaman |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Jaspal Sethi |
|
Designation : |
Whole Time
Director |
|
|
|
|
Name : |
Mr. Shashank |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Ms. Deepti Gambhir |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2011
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
2,102,636 |
22.22 |
|
|
1,930,000 |
20.39 |
|
|
4,032,636 |
42.61 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
4,032,636 |
42.61 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
3,200 |
0.03 |
|
|
300 |
- |
|
|
818 |
0.01 |
|
|
4,318 |
0.05 |
|
|
|
|
|
|
3,206,456 |
33.88 |
|
|
|
|
|
|
1,620,419 |
17.12 |
|
|
276,909 |
2.93 |
|
|
323,110 |
3.41 |
|
|
204,310 |
2.16 |
|
|
118,800 |
1.26 |
|
|
5,426,894 |
57.34 |
|
Total Public
shareholding (B) |
5,431,212 |
57.39 |
|
Total (A)+(B) |
9,463,848 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total
(A)+(B)+(C) |
9,463,848 |
- |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 millionBUSINESS DETAILS
|
Line of Business : |
Manufacture and |
||||
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|
||||
|
Products : |
|
GENERAL INFORMATION
|
Suppliers : |
|
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|||||||||||||||
|
Customers : |
|
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|||||||||||||||
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No. of Employees : |
3000 (Approximately) |
|||||||||||||||
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|||||||||||||||
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Bankers : |
|
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
Notes :
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sushil Poddar and Company Chartered Accountants |
|
Address : |
|
|
|
|
|
Associates : |
|
|
|
|
|
Subsidiaries : |
Domestic
Overseas
|
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10 /- each |
Rs.120.000 Millions |
|
500000 |
Preference Shares |
Rs.100/- each |
Rs.50.000 Millions |
|
|
Total |
|
Rs.170.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8663848 |
Equity Shares |
Rs. 10 /- each |
Rs.86.638 Millions |
Notes :
- 2,089,308 Equity Shares of Rs. 10/- each were allotted as bonus shares by capitalisation the General Reserve.
- 400,000 Equity Shares of Rs. 10/- each have been alloted during the year, at a premium of Rs. 33/- per shares to promoters associate company on conversion of preferential Share Warrants.
- 400,000
Equity Shares of Rs. 10/- each have been alloted during the year, at a
premium of Rs. 33/- per shares to non-promoters company on conversion of
preferential Share Warrants.
As on 24.09.2010
Authorised Capital : Rs.170.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.100.638 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 |
86.638 |
78.638 |
78.600 |
|
|
2] Advance Subscription |
15.050 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1011.521 |
940.876 |
922.900 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1113.209 |
1019.514 |
1001.500 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
384.962 |
560.092 |
479.200 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
384.962 |
560.092 |
479.200 |
|
|
DEFERRED TAX LIABILITIES |
12.746 |
8.878 |
9.800 |
|
|
|
|
|
|
|
|
TOTAL |
1510.917 |
1588.484 |
1490.500 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
235.237 |
229.665 |
128.500 |
|
|
Capital work-in-progress |
93.632 |
44.612 |
37.700 |
|
|
|
|
|
|
|
|
INVESTMENT |
716.376 |
703.627 |
624.500 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
321.208
|
511.431
|
368.100 |
|
|
Sundry Debtors |
41.136
|
67.908
|
100.900 |
|
|
Cash & Bank Balances |
67.505
|
134.490
|
64.000 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
295.604
|
286.284
|
374.300 |
|
Total
Current Assets |
725.453
|
1000.113
|
907.300 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
218.362
|
350.356
|
171.200 |
|
|
Provisions |
41.419
|
39.177
|
36.300 |
|
Total
Current Liabilities |
259.781
|
389.533
|
207.500 |
|
|
Net Current Assets |
465.672
|
610.580
|
699.800 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000
|
0.000
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1510.917 |
1588.484 |
1490.500 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1644.934 |
1401.922 |
1285.200 |
|
|
|
Other Income |
154.221 |
115.942 |
138.700 |
|
|
|
TOTAL (A) |
1799.155 |
1517.864 |
1423.900 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
987.513 |
904.878 |
852.900 |
|
|
|
Power and Fuel |
0.000 |
0.000 |
4.100 |
|
|
|
Employee Cost |
58.059 |
44.590 |
31.700 |
|
|
|
Manufacturing Expenses |
316.265 |
251.855 |
184.700 |
|
|
|
Administrative and Selling Expenses |
166.430 |
155.242 |
169.300 |
|
|
|
Increase/(Decrease) in Finished Goods |
94.939 |
(69.310) |
28.400 |
|
|
|
Purchase for Resale |
35.915 |
58.644 |
0.000 |
|
|
|
Provision for diminution in value of
investment |
0.000 |
8.125 |
17.900 |
|
|
|
TOTAL (B) |
1659.121 |
1354.024 |
1289.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
140.034 |
163.840 |
134.900 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
42.897 |
99.916 |
45.400 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
97.137 |
63.924 |
89.500 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.813 |
9.783 |
8.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
84.324 |
54.141 |
81.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
29.976 |
26.975 |
19.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
54.348 |
27.166 |
62.200 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
528.959 |
477.493 |
NA |
|
|
|
|
|
|
|
|
|
Add |
Transferred
from Debenture redemption reserve |
0.000 |
43.500 |
NA |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
10.000 |
10.000 |
NA |
|
|
|
Dividend |
8.664 |
7.864 |
NA |
|
|
|
Tax on Dividend |
1.439 |
1.336 |
NA |
|
|
BALANCE CARRIED
TO THE B/S |
563.204 |
528.959 |
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1550.327 |
1194.300 |
NA |
|
|
|
Export Under Merchandising Trade |
24.943 |
23.666 |
NA |
|
|
TOTAL EARNINGS |
1575.270 |
1217.966 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
353.767 |
414.046 |
NA |
|
|
|
Capital Goods |
8.064 |
5.138 |
NA |
|
|
|
Purchase under Merchandise Trade |
20.124 |
18.523 |
NA |
|
|
TOTAL IMPORTS |
381.955 |
437.707 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.89 |
3.45 |
7.66 |
|
QUARTERLY /
SUMMARISED RESULTS
|
PARTICULARS |
30.06.2010 1st Quarter |
30.09.2010 2nd Quarter |
31.12.2010 3rd Quarter |
|
Net Sales |
356.030 |
564.500 |
481.570 |
|
Total Expenditure |
326.620 |
513.300 |
457.790 |
|
PBIDT (Excl OI) |
29.410 |
51.200 |
23.780 |
|
Other Income |
1.740 |
9.060 |
13.630 |
|
Operating Profit |
31.150 |
60.270 |
37.410 |
|
Interest |
12.280 |
9.600 |
16.120 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
18.870 |
50.670 |
21.290 |
|
Depreciation |
3.540 |
3.550 |
4.210 |
|
Profit Before Tax |
15.330 |
47.110 |
17.080 |
|
Tax |
4.000 |
12.000 |
5.000 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
11.330 |
35.110 |
12.080 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
11.330 |
35.110 |
12.080 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.02
|
1.79 |
4.37 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.13
|
3.86 |
6.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.78
|
4.40 |
7.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.05 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.58
|
0.93 |
0.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.79
|
2.57 |
4.37 |
LOCAL AGENCY FURTHER INFORMATION
HISTORY
Incorporated as Bhartiya Galecha Industries Private Limited,
Subject got its present name on9.07.1993. It was converted into a public
limited company on 18 Jan.'94. It initially started with export of carpets and
subsequently, diversified into the manufacture and export of high-fashion
leather garments. Subject is a recognised Export House exporting 100% of its
production of leather garments and carpets. It exports its products to
PERFORMANCE REVIEW
During the year the Company achieved a turnover of Rs.
1789.872 Millions against Rs. 1535.005 Millions in the previous year
registering an increase 16.60%. Gross Profit after interest but before
depreciation and tax has increase to Rs. 97.136 Millions as compared to Rs.
72.050 Millions in the previous year. Net Profit after tax has also increased
to Rs. 54.348 Millions from Rs. 27.166 Millions in the previous year.
MANAGEMENT
DISCUSSION AND ANALYSIS
BUILDING
RETAIL AND DISTRIBUTION EXPERTISE
Creating a Global Brand through Acquisition
As part of their
growth plan, Bhartiya is now looking for tie-ups and acquisitions in
BHARTIYA’S SPECIAL
ECONOMIC ZONE
Expanding capacity by investing into
infrastructure
To service their
customers better, and to keep up with their organic growth, Bhartiya is
improving its capacity by investing into infrastructure by constructing a
250-acre Special Economic Zone (SEZ) in the
VALUE BY DESIGN
At Bhartiya, they often speak of "Value by Design". This phrase comes from their heritage. From the time their company was founded, they have looked for ways to add value to their customers that go beyond producing leather products or apparel for them.
Their interactive Design Studio in
Their Design Studio in Milan does a lot of research -
looking at trend forecast magazines, the Internet, European trade fairs as well
as street trends, and reports their findings back to their head office in
India. They internally discuss what their next season's offer should be -
always keeping their customers in mind. This is how the development process
starts. In
Customers can visit their Milan Showroom to see their "Bhartiya Collections", showcasing their most recent product developments as well as their collection archives. The process works both ways. Sometimes their customers give them a specific desired "look" that they would like to create as part of their collection. Other times, they proactively give their customers ideas on what will be a hot-selling item for next season. Either way, the delivery of the desired "look" within their customers' price point is both their challenge and their strength.
Having the Design Studio as a manufacturing interface
between production and their customers leads to invaluable product feedback.
They work with their clients all the way from the research of the raw materials
to the actual final design, to create a better product and better margins. In
this way they act as brand partners, constantly thinking of innovative ways to
improve quality and design.
BHARTIYA’S TEXTILE
BUSINESS
Customer-lead innovation
Following the same
philosophy as their leather business, Bhartiya Textiles today stands for
innovation and reliability. Customers typically don't only look at them as a
sourcing option but also as an outsourced design option. They work very closely
with their customer's designers. They give them a clear idea of what they are
looking for, and their designers work out those requests, keeping in mind the
trends of the season. Besides offering tailor-made production options for
design, they also work to synergize their processes with their customers'
lead-times to reduce inventory costs and to allow their customers to buy closer
to the season. They have now also hired a network of Bhartiya designers across
Europe (
BHARTIYA BUILDS “
Bangalore's Innovative, Design-led
Development
Bhartiya is
harnessing its intrinsic sense of design to create a new, world-class urban
city in
The city has been
designed to be fully sustainable and will include commercial as well as residential
and office space. There will be a variety of housing concepts (priced for a
variety of residents) as well as: a business district, an IT business park,
retail and hospitality chains, shops, markets, a hospital, a school, and public
spaces like an events plaza, waterfront, park, and plenty of bike paths and
greenery.
The city aims to
improve people's quality of life by making it an enjoyable and fun place to
live, work, play and dream. With
FIXED ASSETS :
- Land
- Building
- Machinery
- Vehicles
- Furniture
- Office Equipment
- 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.45.07 |
|
|
1 |
Rs.72.97 |
|
Euro |
1 |
Rs.63.57 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
65 |
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.