1. Summary Information
|
Country |
India |
||
|
Company Name |
HD Fire Protect
Private Limited |
Principal Name 1 |
Mr. Harish Narshi Dharamshi |
|
Status |
Good |
Principal Name 2 |
Mr. Narendra Visanji Dharamshi |
|
Registration # |
11-107536 |
||
|
Street Address |
K – 98, Ajanta Road, Jalgaon – 425003, Maharashtra, India |
||
|
Established Date |
24.04.1997 |
SIC Code |
-- |
|
Telephone# |
91-257-2211996/ 2211876 |
Business Style 1 |
Manufacturing |
|
Fax # |
91-257-2212396 |
Business Style 2 |
Trading |
|
Homepage |
Product Name 1 |
Fire Fighting Equipments. |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.12,500,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of directors -98.08%, Others- 1.92% |
Banking |
Union Bank of India |
|
Public Limited Corp. |
No |
Business Period |
15 years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
Ba (54) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CRO |
|
-- |
-- |
-- |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
189,472,000 |
Current Liabilities |
113,729,000 |
|
Inventories |
102,286,000 |
Long-term Liabilities |
108,580,000 |
|
Fixed Assets |
66,058,000 |
Other Liabilities |
16,588,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
238,897,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
106,419,000 |
|
|
|
Net Worth |
118,919,000 |
|
Total Assets |
357,816,000 |
Total Liab. & Equity |
357,816,000 |
|
Total Assets (Previous Year) |
291,385,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
656,065,000 |
Net Profit |
656,065,000 |
|
Sales(Previous yr) |
454,429,000 |
Net Profit(Prev.yr) |
454,429,000 |
|
Report Date : |
20.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
HD FIRE PROTECT PRIVATE LIMITED (w.e.f. 01.04.2005) |
|
|
|
|
Formerly Known
As : |
D.H. FIRE PROTECT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
K – 98, Ajanta Road, Jalgaon – 425003, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
24.04.1997 |
|
|
|
|
Com. Reg. No.: |
11-107536 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.12.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29270MH1997PTC107536 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKD01560G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCD0020D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Trading of various types of Fire Fighting
Equipments. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 480000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having a good track record. Financially
company performance seems to be good. Trade relations are reported to be
fair. Business is active. Payments are reported to be regular and as per
commitments. The company can be considered for normal business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed legislative
work. India's medium-term growth outlook is positive due to a young population
and corresponding low dependency ratio, healthy savings and investment rates,
and increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office/ Factory : |
K – 98, MIDC, |
|
Tel. No.: |
91-257-2211996/ 2211876 |
|
Fax No.: |
91-257-2212396 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
C – 3/6, The Nandanvan Industrial Estate, LBS Marg, Thane – 400604,
Maharashtra, India |
|
Tel. No.: |
91-22-25826958/
25826793/ 25821354 |
|
Fax No.: |
91-22-25812524/ 55969049/ 67969049 |
|
|
|
|
Sales office : |
Pt. Trimita
Wujud Rekanusa, Jl. Gunung Sahari Raya 51/8, |
|
Tel No.: |
91-21-4227632 |
|
E- Mail : |
|
|
|
|
|
Regional Office : |
Located
at ·
·
Chennai |
|
|
|
|
Overseas Office : |
Located at ·
|
DIRECTORS
(AS ON 15.09.2012)
|
Name : |
Mr. Harish Narshi Dharamshi |
|
Designation : |
Managing Director |
|
Address : |
A/7, Madhur Milan, Dr. Rajendra Prasad Road, Mulund (West), Mumbai –
400080, Maharashtra, India |
|
Date of Birth/Age : |
12.02.1954 |
|
Qualification : |
B.E. (Mech.) |
|
Date of Appointment : |
01.04.2005 |
|
DIN No. : |
00033062 |
|
|
|
|
Name : |
Mr. Narendra Visanji Dharamshi |
|
Designation : |
Chairman |
|
Address : |
A/20, Madhur Milan, 3rd Floor, Mulund (West), R P Road,
Mumbai – 400 080, Maharashtra, India |
|
Date of Birth/Age : |
11.05.1952 |
|
Date of Appointment : |
24.04.1997 |
|
DIN No. : |
00026005 |
|
|
|
|
Name : |
Mr. Sushil Laxmichand Shah |
|
Designation : |
Executive Director |
|
Address : |
Niket, 148 Adarsha Nagar, Rustomji School Road, Jalgaon – 425002,
Maharashtra, India |
|
Date of Birth/Age : |
03.07.1961 |
|
Date of Appointment : |
24.04.1997 |
|
DIN No. : |
00032719 |
|
|
|
|
Name : |
Mr. Miheer Sadanad Ghotikar |
|
Designation : |
Director |
|
Address : |
G-1, Gopal Vishnu Society, 31, |
|
Date of Birth/Age : |
03.10.1981 |
|
Date of Appointment : |
01.01.2010 |
|
DIN No. : |
02865076 |
|
|
|
|
Name : |
Mr. Anik Narendra Dharamhi |
|
Designation : |
Director |
|
Address : |
A/20, Madhur Milan, Dr. Rajendra Prasad Road, Mulund (West), Mumbai –
400080, Maharashtra, India |
|
Date of Birth/Age : |
25.09.1983 |
|
Date of Appointment : |
01.01.2010 |
|
DIN No. : |
02153409 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 15.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Narendra Visanji Dharamshi |
|
5000 |
|
Sushil Laxmichand Shah |
|
5000 |
|
Bharati Sushil Shah |
|
550 |
|
Sushil Shah as a Karta of Sushil Laxmichand Shah HUF |
|
1000 |
|
Hiren Dharmashi as a Karta of Hiren Dharmashi HUF |
|
1400 |
|
Frenal Rishi Lodaya |
|
700 |
|
Harish Narshi Dharamshi |
|
64790 |
|
Kusum Harish Dharamshi |
|
42260 |
|
Ratanbai Narshi Dharamshi and Kusum Harish Dharamshi |
|
100 |
|
Anik Narendra Dharamshi |
|
4000 |
|
Parika Miheer Ghotikar |
|
100 |
|
Miheer Sadanand Ghotikar |
|
100 |
|
|
|
|
|
Total |
|
125000 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
98.08 |
|
Others |
|
1.92 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of various types of Fire Fighting
Equipments. |
|
|
|
|
Products : |
· Deluge Valve · Water Spray Nozzle, Medium and High Velocity · Pressure Gauge · Alarm Valve · Monitors · Monitor Solid Stream Nozzles · Monitor Master Stream Nozzle - Varsha 40 · Monitor Master Stream Nozzle - Varsha 50 · Monitor Master Stream Nozzle - Varsha 60 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Union Bank of India Sai Arcade, N. S. Road, Mumbai – 400 080, Maharashtra, India ·
Small Industries Development Bank of India 1 and 2, Dhanalaxmi Residency, Near Hotel Tip Top Plaza, L.B.S, Marg,
Thane 400602, Maharashtra, India · CITI Bank N.A. Trent House, 2nd Floor, G Block, Plot No.C.60, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
N. Chandulal and Company Chartered Accountants |
|
Address : |
88-94, Big Three Building, Anandilal, Podar Marg, Dhobi Talao, Mumbai
– 400002, Maharashtra, India |
|
PAN : |
AAIPSO425R |
|
|
|
|
Name : |
Hitesh Dedhia and Company Chartered Accountants |
|
Address : |
17, Mulji Devesh Building, 116, Keshavji Nayak Road, Masjid Bunder,
Mumbai – 400009, Maharashtra, India |
|
PAN : |
AAIPD7912Q |
CAPITAL STRUCTURE
(AS ON 15.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
145000 |
Equity Shares with voting rights |
Rs.100/- each |
Rs.14.500 Millions |
|
5000 |
Equity Shares without voting rights
|
Rs.100/- each |
Rs.0.500 Million |
|
|
|
|
|
|
|
Total |
|
Rs.15.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000 |
Equity Shares |
Rs.100/-
each |
Rs.12.500
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
12.500 |
12.500 |
12.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
106.419 |
68.121 |
46.166 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
118.919 |
80.621 |
58.666 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
59.385 |
76.393 |
42.235 |
|
|
2] Unsecured Loans |
49.195 |
37.182 |
31.455 |
|
|
TOTAL BORROWING |
108.580 |
113.575 |
73.690 |
|
|
DEFERRED TAX LIABILITIES |
3.914 |
3.302 |
2.240 |
|
|
|
|
|
|
|
|
TOTAL |
231.413 |
197.498 |
134.596 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
66.058 |
60.209 |
52.114 |
|
|
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 |
102.286
|
104.211
|
53.473
|
|
|
Sundry Debtors |
158.991
|
111.245
|
77.357
|
|
|
Cash & Bank Balances |
18.481
|
2.145
|
2.098
|
|
|
Other Current Assets |
1.519
|
0.000
|
0.000
|
|
|
Loans & Advances |
10.481
|
13.575
|
9.829
|
|
Total
Current Assets |
291.758
|
231.176
|
142.757
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
93.198
|
67.921
|
41.988
|
|
|
Other Current Liabilities |
20.531
|
12.661
|
6.236
|
|
|
Provisions |
12.674
|
13.305
|
12.051
|
|
Total
Current Liabilities |
126.403
|
93.887
|
60.275
|
|
|
Net Current Assets |
165.355
|
137.289
|
82.482
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
231.413 |
197.498 |
134.596 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
656.065 |
454.429 |
386.576 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
82.333 |
53.229 |
46.410 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
12.524 |
8.463 |
5.340 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
69.809 |
44.766 |
41.070 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.416 |
7.528 |
6.068 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
60.393 |
37.238 |
35.002 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
19.789 |
12.468 |
12.187 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
40.604 |
24.770 |
22.815 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
144.960 |
116.553 |
104.099 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
324.83 |
198.16 |
182.52 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
9.21
|
8.19
|
9.05 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.88
|
12.78
|
17.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.51
|
0.46
|
0.60 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.98
|
2.57
|
2.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.31
|
2.46
|
2.37 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in Report (Yes
/ No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm / promoter
involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
PERFORMANCE
The company in the Fifteenth year of its
operations has maintained its leadership position in the market with robust growth
in terms of Turnover, Profit, Net Worth and Assets.
The operating revenue of Rs.656.065 Millions
in the current year marks an increase of 44.27% as compared to the operating
revenue of Rs.454.737 Millions in the previous year.
Profit before interests, depreciation and tax
at Rs.82.333 Millions for the current year has shown a growth of 54.67% when
compared to Rs.53.230 Millions in the previous year.
The net profit after tax has increased by
63.92% to Rs.40.604 Millions in the current year from Rs.24.771 Millions the
previous year.
The gross fixed assets increased by Rs.14.874
Millions during the year to Rs.106.994 Millions (Previous year Rs.92.119
Millions)
CONTINGENT LIABILITIES
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In
Millions) |
|
|
|
|
|
|
Guarantee given by the Company’s bankers on behalf of the company |
6.034 |
8.782 |
|
Excise Duty (FY 2004-05 to FY 2006-07) |
0.000 |
0.009 |
|
Excise Duty (2006-07 to 2010-11) |
8.762 |
0.000 |
FIXED ASSETS:
·
MIDC Plot (Leasehold Land)
·
Administrative Building
·
·
Plant and Machinery
·
Tools and Equipments
·
Testing and Handling Equipments
·
Tool Room Machinery
·
Electric Installation
·
Office Equipments
·
Furniture and Fixtures
·
Vehicles
·
Computers
·
Software
·
WEBSITE DETAILS:
Profile:
Subject is a leading manufacturer of comprehensive range of world-class water and foam based fire protection equipments. As fire protection is more of a passion to them than business, at HD, they constantly try to excel by focusing on quality, innovation and customer satisfaction. This has attracted a remarkable portfolio of committed clients in more than 50 countries across the globe.
For over 20 years, HD products have been tried, tested and successfully accepted worldwide. They have been involved in meeting ever-changing and demanding industry standards, providing a wide range of product line ranging from simple industrial fire suppression to the most complex offshore fire fighting systems. At HD, there goal is to offer there customers fire fighting solutions that meet all requirements and complexities. Therefore they manufacture an extensive range of products, including standard as well as special tailor made systems.
HD production processes are unique combinations of onsite foundry, CNC machine shop, advanced fabrication techniques, modern paint shop and exhaustive test facilities backed by dedicated and experienced design and development engineers. There quality system is ISO 9001:2008 certified, while most of there products are UL Listed, FM Approved or approved by Indian Bureau of Standards.
The organizational philosophy for continuous enhancement in
design, manufacturing, testing and customer service has made HD brand
synonymous with Excellence, Reliability, and Trust.
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.54.74 |
|
|
1 |
Rs.89.02 |
|
Euro |
1 |
Rs.72.48 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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.