MIRA
INFORM REPORT
|
Report Date : |
26.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
DECCAN MECHANICAL AND CHEMICAL INDUSTRIES PRIVATE LIMITED |
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Registered
Office : |
78, Bhosari Industrial Area, Pune – 411026, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
13.06.1969 |
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Com. Reg. No.: |
11-014309 |
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Capital
Investment / Paid-up Capital : |
Rs.19.660 Millions |
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CIN No.: [Company Identification
No.] |
U24119MH1969PTC014309 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNED03781B |
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PAN No.: [Permanent Account No.] |
AAACD7365G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Spirally Welded Pipes and Industrial Safety Shoes. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (55) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1700000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an old and well-established, reputed company having a fine
track record. The financial position of the company appears to be sound and healthy.
The management is known to be well-experienced and knowledgeable businessmen.
Trade relations are reported as trustworthy. Business is active.
Payment terms are reported to be regular and as per commitment. The company can be considered good for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
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 |
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
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Rating |
Long Term Rating = BBB+ |
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Rating Explanation |
Moderate degree of safety and moderate credit risk. |
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Date |
05.09.2012 |
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Rating Agency Name |
CRISIL |
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Rating |
Short Term Rating = A2+ |
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Rating Explanation |
Strong degree of safety and very low credit risk. |
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Date |
05.09.2012 |
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 / Head Office
: |
78, Bhosari Industrial Area, Pune – 411026, |
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Tel. No.: |
91-20-27120994 / 27120020 / 27122696 |
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Fax No.: |
91-20-27120774 / 27120485 |
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E-Mail : |
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Website : |
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Factory 1 : |
Plot No. D-50,
MIDC, |
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Tel no.: |
91-2112-243280 / 309626 |
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Factory 2 : |
Industrial
Maintenance Chemicals T – 01 / T – 77 / T – 78, MIDC Industrial Area, Bhosari, Pune –
411026, Maharashtra, India |
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Tel No.: |
91-20-27120714 / 30623131 / 30622509 |
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Fax No. : |
91-20-27111883 |
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Factory 3 : |
Industrial
Safety Shoes Demech House, 814 / B, |
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Tel no.: |
91-20-25654213 |
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E-Mail : |
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Branch 1 : |
3rd Floor, Dhiraj Chambers, 9, Haraimahal Somani Marg,
Mumbai – 400001, Maharashtra, India |
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Tel No.: |
91-22-22077926 / 22077927 |
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E-Mail : |
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Branch 2 : |
Flat No. 4, 7th Floor, A – Wing, Parsn Manere, 602, Mount Road,
Chennai – 600006, |
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Tel no. : |
91-44-28258415 / 28257829 |
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Fax No. : |
91-44-28252828 |
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E-Mail : |
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Branch 3 : |
F - 317, Sector - 1, |
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Tel No.: |
DIRECTORS
As on 02.07.2012
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Name : |
Mr. Kashinath Rajaram Natu |
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Designation : |
Managing Director and Chairman |
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Address : |
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Date of Birth/Age : |
18.11.1932 |
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Date of Appointment : |
30.06.1969 |
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DIN No.: |
00109868 |
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Name : |
Mrs. Jyoti Digambar Bhide |
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Designation : |
Director |
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Address : |
CB 23/24, |
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Date of Birth/Age : |
31.12.1966 |
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Date of Appointment : |
14.09.2007 |
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DIN No.: |
00861859 |
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Name : |
Mrs. Bhagyashree Kashinath Natu
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Designation : |
Director |
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Address : |
Plot No. 39, National CHS, S. No. 118-124, Aundh, Pune - 411007, ,
Maharashtra, India |
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Date of Birth/Age : |
22.05.1964 |
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Date of Appointment : |
30.09.1998 |
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DIN No.: |
00291294 |
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Name : |
Mr. Santosh Kumar Gupta |
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Designation : |
Director |
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Address : |
10, |
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Date of Birth/Age : |
24.02.1958 |
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Date of Appointment : |
30.09.2006 |
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DIN No.: |
00183735 |
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Name : |
Mr. Charusheela Pradeep Ranade |
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Designation : |
Director |
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Address : |
Q 31, Indira nagar, Dahanukar Colony, Kothrud, Pune - 411029,
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Date of Birth/Age : |
02.04.1962 |
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Date of Appointment : |
14.09.2007 |
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DIN No.: |
01556783 |
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Name : |
Mr. Ajit Kumar Mukherjee |
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Designation : |
Director |
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Address : |
21 Peary Mohan Sur Garden Lane, Kolkata – 700085, West Bengal, India |
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Date of Birth/Age : |
29.11.1937 |
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Date of Appointment : |
02.07.2012 |
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DIN No.: |
00502052 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 02.07.2012
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Names of Shareholders |
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No. of Shares |
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Kashinath Rajaram Natu (Through Karta of H.U.F) |
|
40160 |
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Natu Kashinath Prabha Jointly With Natu Rajaram Kashinath |
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151280 |
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Natu Kashinath Bhagyashree Jointly With Bhide Anupam |
|
198800 |
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Bhide Digambar Jyoti Jointly With Natu A Rujuta |
|
25680 |
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Natu R Kashinath Jointly With Natu Prabha |
|
455528 |
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Natu Arvind Rujuta Jointly With Bhide J Yoti |
|
148800 |
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Demech Overseas Construction Private Limited, India |
|
945732 |
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Total |
|
1965980 |
As on 02.07.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
48.10 |
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Directors or relatives of Directors |
51.90 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Spirally Welded Pipes and Industrial Safety Shoes. |
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Products : |
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GENERAL INFORMATION
|
Customers : |
·
ACC Babcock Limited ·
Sterlite Industries ·
Indian Cement Limited ·
Bombay Chemicals ·
Kota
Thermal Project ·
Larsen and Toubro Limited ·
Malabar Cements Limited ·
Macawber Beekay Limited ·
Chettinad Cement Corp ·
Lurgi India Company Limited ·
GEC India Limited ·
Thermax Limited ·
Kalyanpur Cement ·
Tyazhprom India Limited ·
Orient Engineers ·
Rourkela Steel Plant ·
Bombay Dyeing and Manufacturer Company ·
ABB Alstom Power (India) Limited ·
Alfa Laval , Pune ·
Krupp Industries India Limited ·
Tata Iron and Steel Company Limited ·
Kesoram Cement ·
Nova Iron and Steel Limited ·
FFE Minerals India Private Limited ·
Bharat Heavy Electrical Limited ·
Tamil Nadu News Print and Papers Limited ·
Voltas Limited ·
Bhushan Limited ·
Rajashree Cement ·
Hindustan Zinc Limited |
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No. of Employees : |
Not Available |
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Bankers : |
·
Bank of Maharashtra, Kasarwadi Branch, Pune – 411
034, Maharashtra, India ·
Bank of Baroda, Pimpri Chinchwad Branch, Pune –
411 018, Maharashtra, India ·
Industrial Development Bank of India, IDBI Tower,
Cuff Parade, Mumbai – 400 005, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Chandrakant G. Doshi and Company Chartered Accountants |
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Address : |
Office No. 12, P. J. Chambers, Pimpri, Pune – 411018, |
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Tel. No.: |
91-11-30684201 / 27424286 |
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Fax No.: |
91-11-30684200 |
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E-Mail : |
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Website : |
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PAN : |
AAAFC8309G |
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Subsidiary : |
Indus Marketing Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
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|
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|
1965980 |
Equity Shares |
Rs.10/- each |
Rs.19.660
Millions |
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Share Capital Reconciliation
|
Particular |
Opening Balance |
Others |
Bonus |
Closing Balance |
|
Equity shares with voting right |
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Year ended 31st March 2012 |
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Number of Shares |
982990 |
0.000 |
982990 |
1965980 |
|
Amount in Millions |
9.830 |
0.000 |
9.830 |
19.660 |
Details of Share held by each shareholder holding more 5% shares
|
Class of shares / Name of shareholder |
Number of share
held |
% holding in
that class of share |
|
Equity shares with voting right |
|
|
|
Kashinath Rajaram Natu |
455528 |
23.17% |
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Prabha Natu |
151280 |
7.69% |
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Bhagyashree Kashinath Natu |
198800 |
10.11% |
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Jyoti Digambar Bhide |
25680 |
1.31% |
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Rujuta Arvind Natu |
148800 |
7.57% |
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R Kashinath Natu |
40160 |
2.04% |
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Demech Overseas Construction Private Limited, India |
945732 |
48.11% |
|
Total |
1965980 |
100.00% |
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 |
19.660 |
9.830 |
9.830 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
409.710 |
342.766 |
263.493 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
429.370 |
352.596 |
273.323 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
10.140 |
24.876 |
23.985 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
10.140 |
24.876 |
23.985 |
|
|
DEFERRED TAX LIABILITIES |
5.145 |
4.928 |
6.485 |
|
|
|
|
|
|
|
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TOTAL |
444.655 |
382.400 |
303.793 |
|
|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
105.790 |
90.557 |
87.158 |
|
|
Capital work-in-progress |
0.453 |
0.000 |
3.048 |
|
|
|
|
|
|
|
|
INVESTMENT |
18.716 |
14.746 |
12.133 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
60.575
|
23.827 |
25.931
|
|
|
Sundry Debtors |
184.261
|
203.004 |
169.046
|
|
|
Cash & Bank Balances |
103.638
|
73.591 |
30.469
|
|
|
Other Current Assets |
0.827
|
0.322 |
0.000
|
|
|
Other Non-Current Assets |
1.115
|
0.000 |
0.000 |
|
|
Loans & Advances |
28.743
|
29.576 |
34.451 |
|
Total
Current Assets |
379.159
|
330.320 |
259.897 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
24.514
|
26.465 |
32.186
|
|
|
Other Current Liabilities |
20.256
|
13.099 |
16.549
|
|
|
Provisions |
14.693
|
13.659 |
9.708
|
|
Total
Current Liabilities |
59.463
|
53.223 |
58.443 |
|
|
Net Current Assets |
319.696
|
277.097 |
201.454
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
444.655 |
382.400 |
303.793 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
623.188 |
547.296 |
459.365 |
|
|
|
Other Income |
24.163 |
15.433 |
15.783 |
|
|
|
TOTAL |
647.351 |
562.729 |
475.148 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
586.777 |
469.501 |
384.435 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
586.777 |
469.501 |
384.435 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
135.851 |
138.786 |
125.323 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
3.633 |
2.488 |
1.425 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
13.603 |
12.611 |
11.174 |
|
|
|
|
|
|
|
|
|
|
SISTER COMPANY
‘S BALANCE |
0.185 |
0.000 |
0.003 |
|
|
|
|
|
|
|
|
|
|
Loss on
Investment of Subsidiary Company |
0.336 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
118.093 |
123.686 |
112.724 |
|
|
|
|
|
|
|
|
|
|
PROVISION FOR INCOME
TAX |
39.000 |
43.250 |
36.000 |
|
|
|
|
|
|
|
|
|
|
PROVISION FOR
WEALTH TAX INCLUDING PREVIOUS YEAR |
0.000 |
0.033 |
0.000 |
|
|
|
|
|
|
|
|
|
|
DEFERRED TAX
LIABILITY |
0.217 |
1.556 |
0.380 |
|
|
|
|
|
|
|
|
|
|
EXCESS INCOME TAX
PROVISION WRITTEN BACK |
0.163 |
1.540 |
0.946 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
79.040 |
80.419 |
77.261 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7.826 |
8.553 |
4.886 |
|
|
|
|
|
|
|
|
|
|
LAST YEAR RESERVE
FOR DOUBTFUL DEBTS WRITTEN BACK |
0.000 |
0.000 |
1.405 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
80.000 |
80.000 |
75.000 |
|
|
|
Dividend |
1.966 |
0.983 |
0.000 |
|
|
|
Tax on Dividend |
0.299 |
0.163 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
4.601 |
7.826 |
8.552 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
36.139 |
28.881 |
59.329 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
40.20 |
81.81 |
78.60 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
12.21
|
14.29 |
16.26
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
18.95
|
22.60 |
24.54
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.35
|
29.39 |
32.48
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.35 |
0.41
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.16
|
0.22 |
0.30
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.38
|
6.21 |
4.45
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
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 |
Yes |
TURNOVER AND
PERFORMANCE:
PREVIOUS YEAR
PERFORMANCE:
During the year, the company made a turnover of Rs.623.188 Millions
including Export of Rs.27.599 Millions
CURRENT YEAR
PERFORMANCE:
In the current year up to 25th May 2012, the Company has
achieved sales turnover of Rs. 52.800 Millions. Pending orders for Wear Resist
products are Rs.1.300 Millions and for Material Handling Equipments are
Rs.39.000 Millions Dampers Rs.15.700 Millions and for Ash Handling Projects
Rs.41.300 Millions. Cast Basalt Lined Pipes and Bends 359.800 Millions Ceramic
Lined Products Rs.91.500 Millions.
The Company excepts a turnover of around Rs.100.000 Millions during the
year 2012-13
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24119MH1969PTC014309 |
|
Name of the
company |
|
|
Address of the registered
office or of the principal place of
business in |
78, Bhosri Industrial Area, Pune – 411026, E-Mail : accounts@demechindia.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Others (Counter guarantee to the extent of BG Limit) |
|
Particular of
charge holder |
Bank of Maharashtra, Kasarwadi Branch, Pune – 411 034, Maharashtra, India |
|
Nature of
instrument creating charge |
Gaurantee In Bank's Favour From Its Clients and /or from Guarantor In Respect of Bank Guarantee in Respect of Bank Guarantee Limit Granted By The Bank. |
|
Date of instrument
Creating the charge |
29.05.2012 |
|
Amount secured by
the charge |
Rs.20.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Guarantee
Commission at the rate 0.50% p.a or at such changed rate as the bank may
stipulate from time to time. Margin 5% in term
deposits Extent and Operation of the charge Bank Guarantee to
the extent of Rs.20.000 Millions. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Counter Guarantee of The Company To The Extent of BG Limit |
FIXED ASSETS:
- Land Freehold
- Land
Leasehold
- Building
(Office and Factory)
- Temporary
Shed
- Plant and
Machinery
- Electrical
Installation
- Office
Equipment
- Furniture and
Fixture
- Computer
- Vehicle
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.55.09 |
|
|
1 |
Rs.89.10 |
|
Euro |
1 |
Rs.72.62 |
INFORMATION DETAILS
|
Report Prepared by
: |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
55 |
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.