MIRA
INFORM REPORT
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Report Date : |
26.11.2011 |
IDENTIFICATION DETAILS
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Name : |
MACRO AGENCIES PRIVATE LIMITED |
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Registered Office : |
38/A2,
Doddanakundi Industrial Area, |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
29.04.1992 |
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Com. Reg. No.: |
08-13111 |
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Capital
Investment / Paid-up Capital : |
Rs.0.200
Million |
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CIN No.: [Company
Identification No.] |
U52322KA1992PTC013111 |
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IEC No.: |
0789001951 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRM12824A |
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PAN No.: [Permanent
Account No.] |
AACCM6641E |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturers and
Dealers in imported Sewing Machinery and Embroidery. |
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No. of Employees
: |
67 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 1600 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. It’s scale of activities are limited.
Trade relations are reported as fair. Business is active. Payments are
reported to be slow. The company can be considered for business dealings 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Nagarajan
Velu |
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Designation : |
Director |
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Contact No. |
91-80-41524101 |
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Date : |
23.11.2011 |
LOCATIONS
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Registered
Office/Factory : |
38/A2,
Doddanakundi Industrial Area, |
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Tel. No.: |
91-80-41524101 /
41524102 / 25258127 |
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Mobile No.: |
91-9845034321
(Mr. Nagarajan Velu) |
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Fax No.: |
91-80-41524103 |
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E-Mail : |
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Website : |
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Area : |
500 Sq. ft |
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Location: |
Owned |
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Branch Office
1 : |
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Branch Office
2 : |
Old No. 2-B, New
No. 15, Manjoli 1st, Kalaimagal Nagar, Ekatutha, Chennai – 600
097, Tamilnadu, India |
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Branch Office
3 : |
Plot No. 3, Syad
Jalan Garden, Samrat Colony, Maretpally, Secunderabad 5600026, Hyderabad,
India |
DIRECTORS
As on 30.09.2011
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Name : |
Mr. Nagarajan
Velu |
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Designation : |
Director |
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Address: |
842, 10th
Main Road, 5th Cross, Indira Nagar, IInd Stage, |
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Date of
Birth/Age : |
11.05.1961 |
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Date of
Appointment : |
29.04.1992 |
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DIN No.: |
00317899 |
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Other
Directorship:
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Name : |
Mrs. Kanchana
Nagarajan |
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Designation : |
Director |
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Address: |
842, 10th
Main Road, 5th Cross, Indira Nagar, IInd Stage, |
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Date of
Birth/Age : |
01.02.1965 |
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Date of
Appointment : |
30.09.1998 |
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DIN No.: |
00317980 |
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Other
Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
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Names of Shareholders |
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No. of Shares |
|
Velu Nagarajan |
|
1200 |
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Kanchana
Nagarajan |
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800 |
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Total |
|
2000 |
As on 30.09.2011
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Equity share breakup |
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Percentage of
Holding |
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Category |
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Directors or Relatives of Director |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and
Dealers in imported Sewing Machinery and Embroidery. |
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Products : |
·
Sewing
Machinery ·
Embroidery |
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Brand Names : |
·
Kwong
HOP ·
BROTHER”
·
PROEL |
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Agencies Held : |
·
SWF
Agency – ·
Kwong
HOP – Label – ·
Porel
Laser Cutting Machinery – ·
Sunstar
Industrial Sewing Machine – |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers and End Users ·
Aditya Collections ·
Arvind Mills Limited ·
Bharat Silks ·
Catwin Exports ·
Gokuldas Exports Private Limited ·
Hanuman Weaving Factor ·
Indus Garments ( ·
Madura Garments Exports Limited ·
Shahi Export House |
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No. of Employees : |
67 (Approximately) |
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Bankers : |
·
ING Vysya
Bank Limited, M. G. Road Branch, ·
Canara
Bank, Mahadev Branch, ·
Karur
Vysya Bank Limited, ·
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
A. Rajagopal Chartered
Accountant |
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Address : |
The Palace
Compound, Vasanthnagar, |
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Tel. No.: |
91-80-26720810 |
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PAN No.: |
ABCPA3410D |
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Sister Concerns : |
Tajima Design
Punching Centre Private Limited Address: No. 482,
2nd Line of Business
– Design Production |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000 |
Equity Shares |
Rs.100/- each |
Rs.0.200 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000 |
Equity Shares |
Rs.100/- each |
Rs.0.200 Million |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.200 |
0.200 |
0.200 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.206 |
0.190 |
0.190 |
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4] (Accumulated Losses) |
0.000 |
(0.103) |
(0.225) |
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NETWORTH |
0.406 |
0.287 |
0.165 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.466 |
1.357 |
0.000 |
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TOTAL BORROWING |
0.466 |
1.357 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
0.872 |
1.644 |
0.165 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.137 |
0.160 |
0.188 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
5.997
|
2.221
|
0.228 |
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Sundry Debtors |
2.709
|
1.468
|
0.746 |
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Cash & Bank Balances |
0.086
|
1.178
|
0.600 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
0.084
|
0.086
|
0.430 |
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Total
Current Assets |
8.876
|
4.953
|
2.004 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
6.485
|
3.272
|
2.027 |
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Other Current Liabilities |
1.656
|
0.197
|
0.000 |
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Provisions |
0.000
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0.000
|
0.000 |
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Total
Current Liabilities |
8.141
|
3.469
|
2.027 |
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Net Current Assets |
0.735
|
1.484
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(0.023) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
0.872 |
1.644 |
0.165 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Turnover |
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Other Income |
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TOTAL |
3.877 |
2.399 |
3.241 |
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Less |
EXPENSES |
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Office Expenses |
3.758 |
2.277 |
3.469 |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
3.758 |
2.277 |
3.469 |
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PROFIT/(LOSS)
BEFORE TAX |
0.119 |
0.122 |
(0.228) |
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Less |
TAX |
0.000 |
0.000 |
0.000 |
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PROFIT/(LOSS) AFTER
TAX |
0.119 |
0.122 |
(0.228) |
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Earnings/(Loss)
Per Share (Rs.) |
59.73 |
60.95 |
(114.00) |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.07
|
5.09
|
(7.03) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.32
|
2.39
|
(10.40) |
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Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.43
|
(1.38) |
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Debt Equity Ratio (Total Liability/Networth) |
|
21.20
|
16.82
|
12.28 |
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Current Ratio (Current Asset/Current Liability) |
|
1.09
|
1.43
|
0.99 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
|
|
1. |
Year of Establishment |
YES |
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2. |
Locality of the firm |
YES |
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3. |
Constitutions of the firm |
YES |
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4. |
Premises details |
YES |
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5. |
Type of Business |
YES |
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6. |
Line of Business |
YES |
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7. |
Promoter’s background |
-- |
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8. |
No. of employees |
YES |
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9. |
Name of person contacted |
YES |
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10. |
Designation of contact person |
YES |
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11. |
Turnover of firm for last three years |
YES |
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12. |
Profitability for last three years |
NO |
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13. |
Reasons for variations <> 20% |
NO |
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14. |
Estimation for coming financial year |
YES |
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15. |
Capital in the business |
YES |
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16. |
Details of sister concerns |
YES |
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17. |
Major Suppliers |
NO |
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18. |
Major Customers |
NO |
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19. |
Payment terms |
YES |
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20. |
Export / Import details (is applicable) |
NO |
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21. |
Market information |
-- |
|
22. |
Litigation that the firm / promoter involved
in |
-- |
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23. |
Banking Details |
YES |
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24. |
Banking facility details |
NO |
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25. |
Conduct of the banking account |
-- |
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26. |
Buyer visit details |
-- |
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27. |
Financials, if provided |
NO |
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28. |
Incorporation details, if applicable |
-- |
|
29. |
Last accounts filed at ROC |
-- |
|
30. |
Major Shareholders, is available |
-- |
WORKING RESULTS
There is a net profit of Rs.0.119 Million as compared to the profit of
Rs.0.122 Million during the previous year.
FIXED ASSETS
·
Fax Machine
·
Embroidery Machine
·
Typewriter
·
Vehicles
·
Furniture and Fixtures
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 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.52.17 |
|
|
1 |
Rs.80.64 |
|
Euro |
1 |
Rs.69.43 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
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.