MIRA
INFORM REPORT
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Report Date : |
24.09.2011 |
IDENTIFICATION DETAILS
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Name : |
PROCTOR MARKETING PRIVATE LIMITED |
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Registered
Office : |
22, Strand Road, 1st Floor, P S Hare Street, Kolkata- 700001, West Bengal |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
28.01.1994 |
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Com. Reg. No.: |
28.01.1994 |
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Capital
Investment / Paid-up Capital : |
9.8020 Millions |
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CIN No.: [Company Identification
No.] |
U51420WB1994PTC061645 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CALP05445G |
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PAN No.: [Permanent Account No.] |
AABCP4985H |
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Legal Form : |
Private Limited Liability Concern |
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Line of Business
: |
Trader of Iron and Steel |
RATING & COMMENTS
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MIRA’s Rating : |
B(29) |
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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 55000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability of the company appears to be low. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with
same cautions. |
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
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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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 |
LOCATIONS
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Registered Office : |
22, Strand Road, 1st Floor, P S Hare Street, Kolkata, West Bengal- 700001, India |
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Tel. No.: |
91-33-24883034 |
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E-Mail : |
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Website: |
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Branch Office : |
302, Abhay Steel House, Carnac Bunder, Baroda Street, Mumbai – 400009,
Maharashtra, India |
DIRECTORS
AS ON 31.03.2010
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Name : |
Mr. Raghav Bihani |
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Designation : |
Director |
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Address : |
75/5, Burdwan Road, Alipore, Kolkata – 700027, West Bengal. |
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Date of Birth/Age : |
10.11.1980 |
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Date of Appointment: |
14.01.2003 |
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DIN No.: |
00179962 |
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Other Directorship:
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Name : |
Mr. Rohit Bihani |
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Designation : |
Director |
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Address : |
75/5, Burdwan Road, Alipore, Kolkata – 700027, West
Bengal. |
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Date of Birth/Age : |
30.12.1972 |
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Date of Appointment: |
14.10.2003 |
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DIN No.: |
00179927 |
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Other Directorship:
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Name : |
Shree Narayan Bihani |
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Designation : |
Director |
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Address : |
75/5, Burdwan Road, Alipore, Kolkata – 700027, West
Bengal. |
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Date of Birth/Age : |
30.12.1972 |
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Date of Appointment: |
30.12.2003 |
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DIN No.: |
00126879 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.09.2010
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Names of Shareholders |
No. of Shares |
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Shree Narayan Bihani |
250200 |
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Rohit Bihani |
240000 |
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Raghav Bihani |
240000 |
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Meenakshi Bihani |
250000 |
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Total |
980200 |
Equity Share Break up
AS ON 29.09.2010
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Category |
Percentage |
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Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
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Bodies corporate |
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Directors or relatives of Directors |
100.00 |
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Other top fifty shareholders |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Iron and Steel |
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GENERAL INFORMATION
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Bankers : |
· Indian Bank, Mandvi Branch, 1st Floor, Kanmoor House, 281/287, Narsi Natha Street, Mandvi, Mumbai – 400009, Maharashtra, India. |
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Facilities : |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
S. Modani and Associates Chartered Accountant |
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Address : |
18/1, Maharshi Devendra Road, 3rd Floor Unit -32,Kolkata – 700007, West Bengal, India |
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Tel No.: |
91-33-22748253/ 22746635 |
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Fax No.: |
91-33-22748253 |
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Email Id: |
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PAN NO. : |
AERPM1113P |
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Enterprise over which the person described
above is able to exercise significant influence. |
· Rohit and Company · Giriraj Vyapaar Private Limited · Darpan Vinimay Private Limited · Wrinkle Distributors Private Limited · Balaji Abasan Private Limi+ted · Times Finance Private Limited |
CAPITAL STRUCTURE
AS ON 29.09.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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990000 |
Equity Shares |
Rs.10/- each |
Rs. 9.900 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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980200 |
Equity Shares |
Rs.10/- each |
Rs. 9.802
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions
Note : Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry
Records.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
9.802 |
9.802 |
9.802 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
4.016 |
3.083 |
2.459 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
13.818 |
12.885 |
12.261 |
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LOAN FUNDS |
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1] Secured Loans |
82.652 |
90.892 |
0.000 |
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2] Unsecured Loans |
43.503 |
38.849 |
30.707 |
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TOTAL BORROWING |
126.155 |
129.741 |
30.707 |
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DEFERRED TAX LIABILITIES |
0.016 |
0.003 |
0.003 |
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TOTAL |
139.989 |
142.629 |
42.971 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.865 |
0.004 |
0.007 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.162 |
1.162 |
1.162 |
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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 |
133.169
|
87.803 |
168.147 |
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Sundry Debtors |
91.762
|
16.841 |
26.807 |
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Cash & Bank Balances |
11.063
|
10.244 |
11.731 |
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Other Current Assets |
0.000
|
0.000 |
11.829 |
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Loans & Advances |
15.213
|
126.788 |
0.000 |
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Total Current Assets |
251.207
|
241.676 |
218.514 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Other Current Liabilities |
112.515
|
99.215 |
175.838 |
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Provisions |
0.730
|
0.998 |
0.874 |
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Total Current Liabilities |
113.245
|
100.213 |
176.712 |
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Net Current Assets |
137.962
|
141.463 |
41.802 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
139.989 |
142.629 |
42.971 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
694.671 |
2147.868 |
953.898 |
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Other Income |
2.403 |
14.636 |
4.598 |
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TOTAL (A) |
697.074 |
2162.504 |
958.496 |
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Less |
EXPENSES |
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Increase/Decrease in stock |
(45.366) |
80.344 |
(138.410) |
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Purchases |
711.524 |
1984.921 |
1053.809 |
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Trading and Operating Expenses |
4.864 |
70.837 |
33.759 |
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Administrative and Other Overheads |
5.740 |
4.680 |
2.772 |
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Payments to and Provision for employees |
2.002 |
2.103 |
2.410 |
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TOTAL (B) |
678.764 |
2142.885 |
954.340 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
18.310 |
19.619 |
4.156 |
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Less |
FINANCIAL
EXPENSES (D) |
16.918 |
18.658 |
2.190 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.392 |
0.961 |
1.966 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.042 |
0.003 |
0.004 |
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PROFIT BEFORE
TAX (E-F) (G) |
1.350 |
0.958 |
1.962 |
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Less |
TAX (I) |
0.417 |
0.335 |
0.671 |
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PROFIT AFTER TAX
(G-I) (J) |
0.933 |
0.623 |
1.291 |
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Less |
Transfer to
Statutory Reserve |
0.000 |
0.126 |
0.258 |
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|
0.933 |
0.497 |
1.033 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.698 |
2.201 |
1.168 |
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BALANCE CARRIED
TO THE B/S |
3.631 |
2.698 |
2.201 |
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TOTAL EARNINGS |
3.631 |
2.698 |
2.201 |
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Earnings Per
Share (Rs.) |
0.95 |
0.64 |
1.31 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.13
|
0.02 |
0.13 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.19
|
0.04 |
0.21 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.53
|
0.39 |
0.89 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.07 |
0.16 |
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Debt Equity Ratio (Total Liability/Networth) |
|
17.32
|
17.84 |
16.91 |
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Current Ratio (Current Asset/Current Liability) |
|
2.21
|
2.41 |
1.24 |
LOCAL AGENCY FURTHER INFORMATION
Fixed Assets:
·
Air Conditioners
·
Air Cooler
·
Electrical Equipment
·
Furniture and Fixture
·
Motor Car
·
Scooter
·
Water Purifier
·
Computer
·
Printer
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.49.67 |
|
|
1 |
Rs.76.50 |
|
Euro |
1 |
Rs.66.98 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
2 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.