MIRA
INFORM REPORT
|
Report Date : |
30.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
HAZEL MERCANTILE LIMITED (w.e.f. 09.03.1999) |
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|
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Formerly Known
As : |
HAZEL MERCANTILE PRIVATE LIMITED |
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Registered
Office : |
181, Ashoka Shopping Centre, 2nd Floor, G.T. Hospital
Complex, L.T. Road, Mumbai – 400 001, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
16.10.1995 |
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Com. Reg. No.: |
11-093674 |
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Capital
Investment / Paid-up Capital : |
Rs.150.000 Millions |
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CIN No.: [Company Identification
No.] |
U51900MH1995PLC093674 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH05177E /
MUMH04309E |
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PAN No.: [Permanent Account No.] |
AAACH2671K |
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Legal Form : |
A Closely Held
Public Limited Liability Company |
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Line of Business
: |
The Company is
in the business of Imports, Trading and Distribution of Chemicals, Metals, Sheets,
Paper, Pharmaceutical Products and Exporting of Paper Products, Natural
Rubber, Chemicals, Computer Software Development and Electricity Generation
etc. |
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|
|
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No. of Employees
: |
350 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 8626000 |
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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 established company having fine track. Financial
position of the company appears to be sound. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per
commitments. The company can be considered normal 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE A |
|
Rating |
Short Term Bank Facilities Long Term Bank Facilities |
|
Rating Explanation |
This rating is considered to have adequate degree of safety regarding
timely servicing of financial obligation. Such instruments carry low credit
risk. |
|
Date |
April, 2012 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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.
INFORMATION PARTED BY
|
Name : |
Mr. Nikunj |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-22824444 |
|
Date : |
28.07.2012 |
LOCATIONS
|
Registered Office : |
181, Ashoka Shopping Centre, 2nd Floor, G.T. Hospital
Complex, L.T. Road, Mumbai – 400 001, Maharashtra, India |
|
Tel. No.: |
91-22-22610282/ 43512000 |
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Fax No.: |
91-22-22620553 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Head Office : |
Office No.4, 1st Floor, Naitik Gandhidham Unas Association,
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|
Tel. No.: |
91-283-6229548 |
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Corporate Office : |
701/712A, Embassy Centre, Nariman Point, Mumbai – 400 021, |
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Tel. No.: |
91-22-22824444/ 33554444/ 40098900 |
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Fax No.: |
91-22-22824440/ 22041411 |
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E-Mail : |
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Marketing Office : |
1410, Maker Chambers V, Nariman Point, Mumbai – 400 021, |
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Tel. No.: |
91-22-22832170 (5 Lines) |
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Fax No.: |
91-22-22821605 |
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E-Mail : |
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Branch Office 1 : |
SEZ
Office: Shed No.250, sector III, KSEZ, Kandla, Gandhidham, |
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E-Mail : |
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Branch Office 2 : |
Also
located at: v v Kolkata v |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Nitin Kumar Deendayal
Didwania |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
172, Kshitij, 47, |
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Date of Birth/Age : |
23.06.1974 |
|
Qualification : |
M.Com |
|
Date of Appointment : |
01.04.1997 |
|
DIN No.: |
00210289 |
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|
|
|
Name : |
Mrs. Sushmadevi Deendayal Didwania |
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Designation : |
Director |
|
Address : |
172, Kshitij, 47, |
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Date of Birth/Age : |
30.09.1955 |
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Qualification : |
B.Com |
|
Date of Appointment : |
01.04.1997 |
|
DIN No.: |
00210240 |
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|
|
|
Name : |
Mr. Saurabh Deepak Sanghvi |
|
Designation : |
Additional Director |
|
Address : |
66, Kamal Building, 69, |
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Date of Birth/Age : |
05.08.1974 |
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Date of Appointment : |
02.12.2011 |
|
DIN No.: |
02000411 |
KEY EXECUTIVES
|
Name : |
Mr. Ashok Thakurdas Khemchandani |
|
Designation : |
Secretary |
|
Address : |
F-124, Anjali Apartments, Vaswani Marg, Seven Bungalows, Andheri
(West), Mumbai – 400 061, |
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Date of Birth/Age : |
18.08.1956 |
|
Date of Appointment : |
05.01.2005 |
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PAN No.: |
AFUPK6931R |
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|
|
|
Name : |
Mr. Nikunj |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Nitin Kumar Deendayal Didwania |
|
14998150 |
|
Sushmadevi
Deendayal Didwania |
|
450 |
|
Vishal Veersingh
Sukhani |
|
1000 |
|
Ajay Jain |
|
100 |
|
Yash Gala |
|
100 |
|
Saurabh Sanghvi |
|
100 |
|
Sanjay Busa |
|
100 |
|
Total
|
|
15000000 |
As on 19.12.2011
|
Names of Allottees |
|
No. of Shares |
|
Nitin Kumar Didwania |
|
14998150 |
|
Sushmadevi
Didwania |
|
450 |
|
Vishal Sukhani |
|
1000 |
|
Ajay Jain |
|
100 |
|
Yash Gala |
|
100 |
|
Saurabh Sanghvi |
|
100 |
|
Sanjay Busa |
|
100 |
|
Total
|
|
15000000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
99.99 |
|
Other
top fifty shareholders |
|
0.01 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is
in the business of Imports, Trading and Distribution of Chemicals, Metals,
Sheets, Paper, Pharmaceutical Products and Exporting of Paper Products, Natural
Rubber, Chemicals, Computer Software Development and Electricity Generation
etc. |
|
|
|
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Products/ Services : |
v Paints and Coatings v Paper and Packaging v Textile v Surfactants and Detergents v Pharmaceutical v Photography and Imaging v Tyres v Pipes v Polymer v Metals v
Electricity Generation |
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Exports : |
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Products : |
v
Paper Products v
Natural Rubber v
Chemicals, etc. |
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Countries : |
v
v
v
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Imports : |
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Products : |
v
Raw Materials |
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Countries : |
v
v
v
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
v LG Chem |
||||||||||||||||||||||||
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Customers : |
End Users v MTZ Polyfilms Limited v
Bhansali Engineering Polymers
Limited |
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No. of Employees : |
350 (Approximately) |
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Bankers : |
v
Punjab National Bank, v
State Bank of India, Commercial Branch, N.G.N. Vaidya
Marg, Bank Street, Horniman Circle, Fort, Post Box-10141, Mumbai – 400 001,
Maharashtra, India v
IDBI Bank Limited, Cuff Parade, Mumbai – 400 005,
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Shabbir S.
Bagasrawala Chartered
Accountants |
|
Address : |
Office No.8, 1st
Floor, Narayan Niwas, 63, Aarey Road, Goregaon (West), Mumbai – 400 062, |
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Tel. No.: |
91-22-28739939 |
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Income-tax
PAN of auditor or auditor's firm : |
AACFS5834Q |
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|
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Subsidiary Companies : |
v
Hazel Middle East FZE – v
v
HML PTE Limited |
CAPITAL STRUCTURE
After 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
|
|
|
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|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
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|
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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 |
150.000 |
150.000 |
150.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2006.450 |
1523.369 |
1147.730 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2156.450 |
1673.369 |
1297.730 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
520.774 |
498.846 |
415.923 |
|
|
2] Unsecured Loans |
204.002 |
6.764 |
112.725 |
|
|
TOTAL BORROWING |
724.776 |
505.610 |
528.648 |
|
|
DEFERRED TAX LIABILITIES |
47.444 |
47.751 |
36.432 |
|
|
|
|
|
|
|
|
TOTAL |
2928.670 |
2226.730 |
1862.810 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
161.429 |
171.780 |
123.928 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
67.761 |
68.704 |
16.751 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1806.243
|
1567.129
|
1049.226
|
|
|
Sundry Debtors |
4308.419
|
3273.387
|
2608.707
|
|
|
Cash & Bank Balances |
553.798
|
252.585
|
201.883
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Deposits, Loans & Advances |
555.645
|
456.421
|
411.042
|
|
Total
Current Assets |
7224.105
|
5549.522 |
4270.858 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
4483.696
|
3531.109
|
2516.079
|
|
|
Other Current Liabilities |
0.000
|
0.000
|
0.000
|
|
|
Provisions |
41.495
|
32.970
|
33.690
|
|
Total
Current Liabilities |
4525.191
|
3564.079 |
2549.769 |
|
|
Net Current Assets |
2698.914
|
1985.443
|
1721.089
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.566 |
0.803 |
1.042 |
|
|
|
|
|
|
|
|
TOTAL |
2928.670 |
2226.730 |
1862.810 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating revenue, net |
16684.970 |
13471.085 |
10071.196 |
|
|
|
Other Income |
50.069 |
29.835 |
18.649 |
|
|
|
TOTAL (A) |
16735.039 |
13500.920 |
10089.845 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
14750.800 |
|
9634.976 |
|
|
|
Manufacturing service costs |
1090.663 |
863.491 |
|
|
|
|
Administrative selling other expenses |
240.025 |
168.973 |
|
|
|
|
TOTAL (B) |
16081.488 |
12943.151 |
9634.976 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
653.551 |
557.769 |
454.869 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST
FINANCIAL CHARGES (D) |
126.637 |
138.334 |
142.079 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
526.914 |
419.435 |
312.790 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.587 |
10.867 |
8.891 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
514.327 |
408.568 |
303.899 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
20.751 |
24.155 |
11.079 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
493.576 |
384.413 |
292.820 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
1373.369 |
1047.730 |
811.930 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
50.000 |
50.000 |
|
|
|
Proposed Dividend |
10.495 |
7.500 |
6.000 |
|
|
|
Dividend Tax |
|
1.274 |
1.020 |
|
|
BALANCE CARRIED
TO THE B/S |
1806.450 |
1373.369 |
1047.730 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
3496.080 |
3249.541 |
896.290 |
|
|
|
Freight , Insurance & Commission |
9.844 |
4.414 |
16.818 |
|
|
TOTAL EARNINGS |
3505.924 |
3253.955 |
913.108 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
8341.418 |
7148.731 |
4286.729 |
|
|
TOTAL IMPORTS |
8341.418 |
7148.731 |
4286.729 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
32.91 |
25.63 |
23.07 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
20820.000 |
|
|
|
|
|
Expected Sales (2012-2013): Rs.24000.000 millions
The above information has been parted by Mr. Nikunj (Finance Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.95
|
2.85
|
2.90
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.08
|
3.03
|
3.02
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.96
|
7.14
|
6.91
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.24
|
0.23
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.43
|
2.43
|
2.37
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.60
|
1.56
|
1.67
|
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Sundry Creditors |
|
|
|
|
- Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
- Creditors due others |
4483.696 |
3531.109 |
2516.079 |
|
|
4483.696 |
3531.109 |
2516.079 |
|
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 |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
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 |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
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) PAN of Proprietor/Partner/Director, if available |
No |
|
32) Passport No of Proprietor/Partner/Director, if available |
No |
|
33) Voter ID No of Proprietor/Partner/Director, if available |
No |
PERFORMANCE:
During the year,
the Company has achieved consolidated turnover of Rs.26107.000 millions as
compared to Rs.20234.700 millions during the previous year resulting in revenue
growth of 29.02%. On standalone basis the Company has achieved turnover of
Rs.16735.000 millions as compared to Rs.13513.900 millions during the previous
year garnering a resulting growth in revenue of 23.95% and consolidated Profit
after Tax is Rs.898.100 millions as compared to Rs.657.200 millions during the
previous year resulting in growth of 36.66%, On standalone basis Profit after
tax is Rs.493.600 millions as compared to Rs.384.400 millions during the
previous year resulting in growth of 28.41%.
WIND MILL DIVISION:
Augmentation of
Renewable Energy Resources occupies the centre space in the Company’s long term
investment and business planning. The Company’s contribution to develop
in-exhaustible sources of clean energy will definitely contribute towards
global battle against climate change. The Company has already in operation 4 nos.
of 1850 KW wind energy generation plants. This division has generated 67,85,270
units of wind energy as against 58,94,566 units generated during the previous
year.
BUSINESS SCENARIO AND FUTURE PROSPECTS:
TRADE AND DISTRIBUTION:
As a prominent
distributor and trade facilitator, the Company inspires faith by delivering
excellence at all times to the end user, with regard to catering of specific or
special needs of the end user while creating growth opportunities for ‘their
associates’ which includes partners, suppliers, principals, customers and the
society. With a pan-Indian presence and global footprint, the Company offers
its associates an unparalleled distribution platform for dynamic markets and
products. The Company identifies opportunities by synchronizing trade and
distribution services while harnessing nascent markets. With more than a decade
of experience in international trade, the Company has added value throughout
the supply and demand chain, often incorporating barter trade to optimize returns.
By investing in quality over quantity they deliver the best in products or
services to the masses. Their trading and distribution network creates value in
the various Industries viz: Chemicals and Petrochemicals, Polymers, Electricity
Generation, Paper and Board, Rubber and Metals and Software Development.
FUTURE BUSINESS PROSPECTS:
The company is in
the process of conducting due diligence to evaluate the possibilities of merger
/ takeover of associate company having excellent track record with strong
resources and business model. The ensuing merger of the company will bring in a
good value for their assets coupled with better swap ratio of shares which will
enhance the value of the investment in the company to a great extent. The
merger will bring an additional opportunity and prospect for future overall
growth and consolidation at the same time.
The HML ADVANTAGE:
The reason the
Company is the most preferred one is because of the uniqueness versatility and
innovation, which offers the customers / suppliers /principals (associates)
advantages as under;
They offer a
competitive advantage through integrated value-added services and business
opportunities. They get the added advantage of -
v Unparalleled
Infrastructure for warehousing, distribution and delivery for Liquid as well as
dry bulk cargo, globally as well as-pan
v Customer
Relationship Executive (CRE) dedicated exclusively to their business, acting as
a one-point contact for all their needs / requirements.
v Global Presence
and Networks with ready offtake for products across Continents.
v Barter
opportunities, along with unbeatable economies of scale.
v Industry Sector
Expertise to identify unique opportunities and provide the entire range of
products and services.
v Flexible globally integrated
software systems to monitor efficient and effective execution.
v Strong Financial
Resources to facilitate structured trade, globally.
For the Company,
no number is too small or any volume too large. They organize distribution
suitable to the needs / requirements of the end users. The Company has
constantly been participating in business ventures with Private / Public sector
undertakings and bagging global Tenders on continuous basis which reflects
strong faith of multinationals in the Company and projects global image of
their illustrious country
CONTINGENT
LIABILITIES:
Contingent liabilities in respect of outstanding corporate guarantees
given to bank on behalf of subsidiaries are as under:
|
Particulars |
31.03.2011 (Rs.
in millions) |
|
Guarantees given to banks on behalf of the Subsidiary Company |
1810.000 |
|
Total |
1810.000 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U51900MH1995PLC093674 |
|
Name of the
company |
HAZEL MERCANTILE
LIMITED |
|
Address of the
registered office or of the principal place of business in |
181, Ashoka Shopping Centre, 2nd Floor, G.T. Hospital
Complex, L.T. Road, Mumbai – 400 001, Maharashtra, India E-Mail: admin@hmlindia.com |
|
This form is for |
Creation of
Charge |
|
Type of charge |
Movable Property
(not being pledge) |
|
Particular of
charge holder |
Punjab National Bank, E-Mail: sborase@gmail.com |
|
Nature of
instrument creating charge |
Deed of
Hypothecation to Secure LC on DA Basis dated:- 24.11.2011 |
|
Date of
instrument Creating the charge |
24.11.2011 |
|
Amount secured by
the charge |
Rs.550.000
Millions |
|
Brief of the
principal terms and conditions and extent and operation of the charge |
RATE OF INTEREST Commission 15% of
TERMS OF REPAYMENT As per agreement MARGIN 15% EXTENT AND OPERATION OF THE CHARGE Adhoc LC (DA)
facility of Rs.550.000 Millions is secured by LC documents. |
|
Short Particulars
of the property charged |
Adhoc LC (DA) facility
of Rs.550.000 Millions is secured by
LC documents |
TRADE REFERENCES:
v MTZ Polyfilms Limited
v
Bhansali Engineering
Polymers Limited
v LG Chem
FIXED ASSETS
v Land and Building
v Plant and Machinery
v Vehicles
v Office Equipment
v Furniture and Fixture
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.55.41 |
|
|
1 |
Rs.86.93 |
|
Euro |
1 |
Rs.68.10 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
52 |
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.