MIRA
INFORM REPORT
|
Report Date : |
07.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
AXTEL INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 43/1, Village Nurpura, P.O. Baska, Taluk Halol, Panchmahal –
389350, |
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|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
28.08.1991 |
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|
|
|
Com. Reg. No.: |
04-016185 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.99.998 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L91110GJ1991PLC016185 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDA01552F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCA3227E |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
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|
|
|
Line of Business
: |
Manufacturer and Supplier of Process Engineering Equipment |
|
|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 720000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track. The Shares of
the company are traded on BSE. Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office/ Factory : |
Plot No. 43/1, Village Nurpura, P.O. Baska, Taluk Halol, Panchmahal –
389350, |
|
Tel. No.: |
91- 2676-247900 |
|
Fax No.: |
91- 2676-247125 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 31.03.2011
|
Name : |
Mr. Kirit Kumar Pathak |
|
Designation : |
Non-Executive Director Executive |
|
|
|
|
Name : |
Mr. Ajay Desai |
|
Designation : |
Director Executive Director |
|
|
|
|
Name : |
Mr. Ajay Parikh |
|
Designation : |
Professional Director |
|
|
|
|
Name : |
Mr. Ameet Parikh |
|
Designation : |
Non-Executive Independent |
|
|
|
|
Name : |
Mr. Hardip Singh Bubber |
|
Designation : |
Director Non-Executive |
|
|
|
|
Name : |
Mr. Ajit Singh Bubber |
|
Designation : |
Independent Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 31.03.2012
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of
Promoter and Promoter Group |
|
|
|
|
|
|
|
|
3072630 |
30.73 |
|
|
3072630 |
30.73 |
|
|
|
|
|
Individuals (Non-Residents Individuals/ Foreign Individuals) |
1795346 |
17.95 |
|
Total
shareholding of Promoter and Promoter Group (A) |
1795346 |
17.95 |
|
(B) Public
Shareholding |
4867976 |
48.68 |
|
|
|
|
|
|
|
|
|
|
297019 |
2.97 |
|
|
|
|
|
|
2994778 |
29.95 |
|
|
1427511 |
14.28 |
|
|
412516 |
4.13 |
|
|
405232 |
4.05 |
|
|
5131824 |
51.32 |
|
Total Public shareholding
(B) |
5131824 |
51.32 |
|
Total (A)+(B) |
9999800 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total
(A)+(B)+(C) |
9999800 |
- |
(1) Indian
Individual shareholders holding nominal
share capital up to Rs.0.100 millionBUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Process Engineering Equipment |
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Products : |
|
PRODUCTION STATUS as on: (31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Plant and Machines Sets |
NOS |
NA |
NA |
4649 |
|
|
|
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
State Bank of |
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Facilities : |
(Rs.
In Millions)
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
V. K. Shastri and Company Chartered Accountants |
|
Address : |
|
CAPITAL STRUCTURE
After: 19.09.2011
Authorised Capital : Rs.200.000
Millions
Issued, Subscribed & Paid-up Capital : Rs.99.998 Millions
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Share |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9999800 |
Equity Share |
Rs.10/- each |
Rs.99.998
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
99.998 |
99.998 |
99.998 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
81.947 |
58.190 |
52.101 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
181.945 |
158.188 |
152.099 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
69.690 |
16.030 |
30.476 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
69.690 |
16.030 |
30.476 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
251.635 |
174.218 |
182.575 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
63.461 |
63.887 |
67.410 |
|
|
Capital work-in-progress |
13.984 |
1.529 |
0.519 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.750 |
1.800 |
2.570 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
147.912
|
115.641 |
67.484 |
|
|
Sundry Debtors |
163.654
|
46.034 |
74.729 |
|
|
Cash & Bank Balances |
11.020
|
1.577 |
1.033 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
63.242
|
66.127 |
48.522 |
|
Total
Current Assets |
385.828
|
229.379 |
191.768 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
115.656
|
44.599 |
38.394 |
|
|
Other Current Liabilities |
80.000
|
74.933 |
32.495 |
|
|
Provisions |
18.532
|
4.245 |
9.603 |
|
Total
Current Liabilities |
214.188
|
123.777 |
80.492 |
|
|
Net Current Assets |
171.640
|
105.602 |
111.276 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
1.800 |
1.400 |
0.800 |
|
|
|
|
|
|
|
|
TOTAL |
251.635 |
174.218 |
182.575 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
540.858 |
270.517 |
336.993 |
|
|
|
Other Income |
0.189 |
0.271 |
(1.336) |
|
|
|
TOTAL (A) |
541.047 |
270.788 |
335.657 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
366.216 |
202.915 |
192.499 |
|
|
|
Other Manufacturing Expenses |
45.051 |
32.468 |
28.896 |
|
|
|
Payment and Provision For Employees |
46.729 |
39.781 |
32.313 |
|
|
|
Administrative Expenses |
17.451 |
13.947 |
13.391 |
|
|
|
Selling and Distribution Expenses |
2.621 |
2.383 |
3.010 |
|
|
|
Managerial Remuneration |
5.999 |
5.999 |
5.999 |
|
|
|
Increase/ (Decrease) in stock |
2.686 |
(47.265) |
22.300 |
|
|
|
TOTAL (B) |
486.753 |
250.228 |
298.408 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
54.294 |
20.560 |
37.249 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.460 |
3.346 |
2.742 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
49.834 |
17.214 |
34.507 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.677 |
6.523 |
5.595 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
43.157 |
10.691 |
28.912 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
18.922 |
4.056 |
9.752 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
24.235 |
6.635 |
19.160 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
51.421 |
44.786 |
25.625 |
|
|
|
|
|
|
|
|
|
Add |
PROFIT/(LOSS) OF THE YEAR AFTER TAXATION |
24.235 |
6.635 |
19.161 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
75.656 |
51.421 |
44.786 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
40.100 |
33.536 |
24.646 |
|
|
TOTAL EARNINGS |
40.100 |
33.536 |
24.646 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.42 |
0.66 |
1.92 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2011 1st Quarter |
30.09.2011 2nd Quarter |
31.12.2011 3rd Quarter |
31.03.2012 4th Quarter |
|
|
Unaudited |
Unaudited |
Unaudited |
Unaudited |
|
Net Sales |
71.130 |
141.150 |
275.160 |
106.390 |
|
Total Expenditure |
83.340 |
122.600 |
211.420 |
114.270 |
|
PBIDT (Excl OI) |
(12.210) |
18.550 |
63.740 |
(7.880) |
|
Other Income |
(0.210) |
0.170 |
0.080 |
0.960 |
|
Operating Profit |
(12.420) |
18.720 |
63.820 |
(6.920) |
|
Interest |
1.630 |
1.990 |
2.030 |
3.580 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
(14.050) |
16.730 |
61.790 |
(10.500) |
|
Depreciation |
1.670 |
1.670 |
1.68 |
4.250 |
|
Profit Before Tax |
(15.720) |
15.060 |
60.110 |
(14.750) |
|
Tax |
0.000 |
0.000 |
19.290 |
(4.750) |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
(1.572) |
15.060 |
40.820 |
(10.000) |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
(15.720) |
15.060 |
40.820 |
(10.000) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.48
|
2.45 |
5.71 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.98
|
3.95 |
8.58 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.61
|
3.65 |
11.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.07 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.56
|
0.88 |
0.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.80
|
1.85 |
2.38 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
No |
|
Name
of Person Contacted |
No |
|
Designation
of contact person |
No |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
No |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
No |
AUDITED
FINANCIAL RESULTS FOR THE QUARTER/NINE MONTHS ENDED 31st MARCH 2012
(Rs.
In Millions)
|
|
3 Months Ended |
Preceding 3 Months Ended |
Year to date Figure for
current Period ended |
|
PARTICULARS |
31.03.2012
(Audited) |
31.12.2011 (Unaudited) |
31.03.2012 (Audited) |
|
Income from operations |
|
|
|
|
1. a) Sales/Income from operations |
106.386 |
275.163 |
593.822 |
|
b) Other Operating Income |
|
|
|
|
Total Income from operations
(Net) |
106.386 |
275.163 |
593.822 |
|
2. Expenses |
|
|
|
|
(a) a) Cost of raw materials |
77.639 |
112.500 |
369.086 |
|
(b) b) Purchase of stock-in-trade |
- |
- |
- |
|
(c) Changes in inventories of finished goods Work-in-progress and stock-in-trade |
(10.207) |
66.188 |
8.505 |
|
(d) Employee benefit expense |
24.486 |
15.362 |
63.103 |
|
(e) Depreciation and amortisation expense |
4.249 |
1.675 |
9.264 |
|
(f) Other expense ( any item exceeding 10% of the Total Expenses relating to continuing operations To be shown separately) |
22.345 |
17.373 |
90.938 |
|
Total Expenses |
118.512 |
213.098 |
540.896 |
|
3. Profit(+)/Loss(-) from Operations before Other Income, Interest & Exceptional Items (1-2) |
(12.126) |
62.065 |
52.926 |
|
4. Other Income |
0.964 |
0.077 |
1.006 |
|
5. Profit(+)/Loss(-) before Interest & Exceptional Items (3+4) |
(11.162 |
62.142 |
53.932 |
|
6. Finance Cost |
3.581 |
2.028 |
9.231 |
|
7. Profit(+)/Loss(-) before Exceptional Items(5-6) |
(14.743) |
60.114 |
44.701 |
|
8. Exceptional Items |
- |
- |
- |
|
9. Profit(+)/Loss(-) from ordinary activities before Tax (7+8) |
(14.743) |
60.114 |
44.701 |
|
10. Tax Expense |
(4.746) |
19.290 |
14.544 |
|
11. Net Profit(+)/Loss(-) from Ordinary Activities after Tax (9-10) |
(9.997) |
40.824 |
30.157 |
|
12. Extraordinary Items (net of tax expense Rs.) |
- |
- |
- |
|
13. Net Profit for the period (11-12) |
(9.997) |
40.824 |
30.157 |
|
14. Share of profit/ (loss) of associates |
- |
- |
- |
|
15. Minority Interest |
- |
- |
- |
|
16. Net Profit/(Loss) after tax, minority interest and Share of profit/ (loss) of associates (13+14+15) |
(9.997) |
40.824 |
30.157 |
|
17. Paid up equity share capital (face value of the share shall be indicated) |
99.998 |
99.998 |
99.998 |
|
18. Reserve excluding Reevaluation Reserve as per Balance sheet of the previous accounting year |
2.500 |
2.500 |
2.500 |
|
19. Earnings per share (before extraordinary items) |
|
|
|
|
(a) Basic |
(1.00) |
4.08 |
3.02 |
|
(b) Diluted |
(1.00) |
4.08 |
3.02 |
|
20. Earnings per share (after extraordinary items) |
|
|
|
|
(c) Basic |
(1.00) |
4.08 |
3.02 |
|
(d) Diluted |
(1.00) |
4.08 |
3.02 |
|
A. Particular Shareholding |
|
|
|
|
1. Public Shareholding |
|
|
|
|
- No. of shares |
5131824 |
5131824 |
5131824 |
|
- Percentage of shareholding |
51.32% |
51.32% |
51.32% |
|
2.Promoters and Promoter group Share holding |
|
|
|
|
a) Pledged/Encumbered |
|
|
|
|
- No. of shares |
Nil |
Nil |
Nil |
|
- Percentage of shares (as a % of the total shareholding of Promoter and promoter group) |
Nil |
Nil |
Nil |
|
- Percentage of shares (as a % of the total share capital of the company) |
Nil |
Nil |
Nil |
|
b) Non-encumbered |
|
|
|
|
-No. of shares |
4867976 |
4867976 |
4867976 |
|
- Percentage of shares (as a % of the total shareholding of Promoter and promoter group) |
100.00% |
100.00% |
100.00% |
|
- Percentage of shares (as a % of the total share capital of the company) |
48.68% |
48.68% |
48.68% |
|
Particular |
Three months ended |
|
31.03.2012 |
|
|
Investor Complaints |
|
|
Pending at the beginning of the quarter |
NIL |
|
Received during the quarter |
2 |
|
Disposed of during the quarter |
2 |
|
Remaining unresolved at the end of the quarter |
NIL |
STATEMENT OF ASSETS
AND LIABILITIES AS AT 31ST MARCH, 2012
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
|
A. EQUITY AND LIABILITIES |
|
|
1) Shareholders' Funds |
|
|
(a) Share Capital |
99.998 |
|
(b) Reserves and Surplus |
111.685 |
|
(c) Money Received against share warrants |
17.747 |
|
Sub-total
Shareholder’s fund |
229.430 |
|
|
|
|
2. Share
application money pending allotment |
|
|
3. Minority
interest |
|
|
|
|
|
4. Non-Current Liabilities |
|
|
(a) Long-Term Borrowings |
15.885 |
|
(b) Trade Payables |
0.000 |
|
(c) Other Long Term Liabilities |
3.389 |
|
(d) Long-Term Provisions |
0.00 |
|
Sub-total Non-current liabilities |
19.274 |
|
|
|
|
3. Current Liabilities |
|
|
(a) Short-term borrowings |
63.994 |
|
(b) Trade payables |
58.532 |
|
(c) Other current liabilities |
59.455 |
|
(d) Short-term provisions |
49.935 |
|
Sub-total Current liabilities |
231.916 |
|
Total
Equity and Liabilities |
480.620 |
|
|
|
|
B ASSETS |
|
|
1. Non-Current Assets |
|
|
(a) Fixed Assets |
105.626 |
|
(b) Goodwill on consolidation |
0.000 |
|
(c) Non-Current Investments |
0.250 |
|
(d) Deferred tax assets (net) |
0.088 |
|
(e) Long-term Loans and Advances |
29.568 |
|
(f) Other Non-Current Assets |
0.000 |
|
Sub-total Non-current assets |
135.532 |
|
|
|
|
2. Current Assets |
|
|
(a)Current investment |
0.000 |
|
(b) Inventories |
120.771 |
|
(c) Trade Receivables |
127.042 |
|
(d) Cash and Bank balances |
45.557 |
|
(e) Short-term loans and advances |
51.718 |
|
(f) Other current assets |
0.000 |
|
Sub-total Current assets |
345.088 |
|
Total
Assets |
480.620 |
FIXED ASSETS:
·
Land and Land Development
·
Factory Building
·
Office Buildings
·
Plant and Machinery
·
Electrification
·
Computer System
·
Furniture and Fixtures
·
Office Equipments
·
Vehicle
AS PER WEBSITE DETAILS:
OVERVIEW
Subject is a customer oriented, technology
driven company that is recognized for turnkey systems, new product development
and exemplary customer service.
Subject philosophy is to supply customers with
the best equipment and the best technology at a competitive price with
efficiency being an integral part of the system. Over the years Subject has
developed an international reputation for reliability, flexibility and
productivity improvement. Excellent reputations don’t come easily. There has
been forged through a commitment to uncompromised quality in design and
service.
Each customer has different needs. There
customers come back to them because of their ability to meet those individual
needs. They draw upon more than 15 years of cumulative knowledge gained from
serving customers globally. There unique position today paves the way for
cultivating genuine partnerships and jointly pioneering new techniques with
their customers. There customers have endorsed their efforts with enthusiasm by
labeling them as - “preferred choice”.
They encourage customers to visit there
extensively equipped Works at Halol, near Baroda. Here, they have all the
facilities necessary to manufacture there robust and aesthetically pleasing
equipment.
Addressing the Processing needs with Precision
Subject expertise is in providing customized
process solutions. As the “one source” supplier, they offer systems that
provide solutions based on the needs. There wide product range and ability to
develop new products, allows them to make unbiased recommendations without
forcing you to choose from a specific list only.
Subject sales engineers will work together
with you to define the system and equipments required for the application.
Subject design engineers use their collective
experience to determine the individual needs of each application and to produce
a complete turnkey proposal. The systems offered are optimized to the
processing needs and the designs precisely tailored to the unique requirements.
They do not design the process so as to fit there equipments; they design
equipments to fit the process.
Attention to detail, regardless of whether it
is a unique process or a regular one, Subject assures that each customer’s
requirement is met so as to be ‘Right- the First time.’
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.55.42 |
|
|
1 |
Rs.86.04 |
|
Euro |
1 |
Rs.68.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
35 |
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.