|
Report Date : |
01.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
RAVIN CABLES LIMITED |
|
|
|
|
Registered
Office : |
302, Akruti Trade Centre, 3rd Floor, Road No. 7, MIdC, Marol, Andheri (East), Mumbai –
400 093, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
11.11.1982 |
|
|
|
|
Com. Reg. No.: |
11-28700 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 209.230
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31300MH1982PLC028700 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR14564E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR6590F |
|
|
|
|
Legal Form : |
A closely held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Primecab Cables |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4236192 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track. There
appears some losses being incurred by the company in the current year i.e.
2009-10. However, net worth appears to be satisfactory. Trade relations are reported
as fair. Business is active. Payments are reported to be usually correct. 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.
INFORMATION DECLINED BY
Management non co operative (Name not disclosed)
LOCATIONS
|
Registered Office / Administrative office : |
302, Akruti Trade Centre, 3rd Floor, Road No. 7, MIdC, Marol, Andheri (East), Mumbai –
400 093, |
|
Tel. No.: |
91-22-3081 6666 |
|
Fax No.: |
91-22-3081 6661 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory/Works : |
Gat No. 227/230, Alandi – Markal Main Road, Markal Village, Taluka –
Khed, District Pune, India |
|
Tel. No.: |
91-2137-320600 / 01/ 02 |
|
Fax No.: |
91-2137-320602 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Mario Tomasi |
|
Designation : |
Director |
|
Address : |
Viale Roma No.24, Province Of Trento, Municipality Of Rivadel Garda,
Italy-38066 |
|
Date of Birth/Age : |
17.11.1970 |
|
Date of Appointment : |
19.01.2010 |
|
|
|
|
Name : |
Mr. Vijay P Karia |
|
Designation : |
Chairman and Managing Director |
|
Address : |
A 1202, Surya Apartment, |
|
Date of Birth/Age : |
06.05.1965 |
|
Date of Appointment : |
01.04.1987 |
|
|
|
|
Name : |
Mr. Piyush Jagdishchandra Karia |
|
Designation : |
Whole Time Director |
|
Address : |
B-204, Darshan Apartments, |
|
Date of Birth/Age : |
19.08.1966 |
|
Date of Appointment : |
01.01.2009 |
|
|
|
|
Name : |
Mr. Hans Gunnar Staffan Hogstet |
|
Designation : |
Director |
|
Address : |
VIA, Aurelio Saffi, 33, Milano, Italy-20123 |
|
Date of Birth/Age : |
21.03.1968 |
|
Date of Appointment : |
19.01.2010 |
|
|
|
|
Name : |
Mr. Luigi L Sarogni |
|
Designation : |
Director |
|
Address : |
Frazione Olesi No. 1, Municipality of Borgo Priolo, Province of Pavia,
Italy |
|
Date of Birth/Age : |
01.05.1954 |
|
Date of Appointment : |
07.06.2010 |
KEY EXECUTIVES
|
Name : |
Mr. Vinayak Motiram Shirsat |
|
Designation : |
Company Secretary |
|
Address : |
9/A/401, Ekta CHS Mhada Colony, Chandivali, Andheri (East), Mumbai –
400 072, |
|
Date of Birth/Age : |
03.06.1965 |
|
Date of Appointment : |
01.08.2006 |
|
Pan No.: |
AAAPS6554M |
|
|
|
|
Name : |
Mr. Rajendra |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
51.69 |
|
Bodies corporate |
0.01 |
|
Directors or relatives of Directors |
46.90 |
|
Other top fifty shareholders |
1.40 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Primecab Cables |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production # |
|
Cables |
Kms |
16500 |
16500 |
7282.88 |
# includes captive consumption of 3.29kms. And
cables scrapped of 44.64kms.
GENERAL INFORMATION
|
Customers : |
Automobiles ·
Eicher Motors Limited ·
Maruti Udyog Limited Chemical Plants · Acco Industries Limited · Asian Paints India Limited Cement ·
Associated Cement Company Limited ·
Chanakya Cements Limited Hospitals ·
Contemporary Healthcare Private Limited ·
Engineering · Antelec Limited · Apar Limited Fertilizers ·
Hindustan Fertilizers Corporation Limited ·
Indian Farmer Fertilizers Co-Op Government ·
Airport Authority Of · Centre For Advance Technology Mines · Sesa Goa Limited · Sese Industries Limited Glass ·
Goa Glass Fibre Limited ·
Haldyan Glass [Gujarat ] Limited Steels ·
Bharat Aluminium Company Limited ·
D. Private Wires Private Limited |
|||||||||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||||||||
|
No. of Employees : |
250 (Approximately) |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
·
Central Bank of India, Abdul Rehman Street
Branch, 142/144, Abdul Rehman Street, Mumbai – 400 003, Maharashtra, India. ·
Barclays Bank Plc, 601/603, Ceejay House,
Shivsagar Estate, Dr. Annie Basant Road, Worli, Mumbai-400018, Maharashtra,
India ·
Standard Chartered Bank, ·
The Shamrao Vitthal Co-operative Bank Limited, Vanvaria
Apartments, S. V. Road, Khar, Mumbai-400052, Maharashtra, India ·
HSBC Limited ·
HDFC Bank limited |
|||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
K S Aiyar and Company |
|
|
Chartered Accountants |
|
Address : |
F7, Laxmi Mills, |
|
Pan No : |
AAAFK6843P |
|
|
|
|
Holding Company : |
·
Prysmian Cavi E Sistemi Energia S.R.L., Italy |
|
|
|
|
Ultimate Holding Company |
·
Prysmian SPA |
|
|
|
|
Fellow Subsidiaries of Ultimate Holding Company: |
·
Prysmain Baosheng Cable Company Limited, China ·
Prysmain Kabel Und Systeme GmbH, Germany ·
Prysmain Cables ET Systeme France SAS, France ·
Prysmain Cavi E Sistemi Itali SRL, Italy |
|
|
|
|
Associates : |
·
Power Plus Cable Company LLC (PPC) |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
24500000 |
Equity Shares |
Rs.10/- each |
Rs. 245.000 Millions |
|
|
500000 |
Preference Shares |
Rs.10/- each |
Rs. 5.000
Millions |
|
|
|
Total
|
|
Rs. 250.000
Millions |
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20923011 |
Equity Shares |
Rs.10/- each |
Rs. 209.230
Millions |
|
|
|
|
|
Notes:
(Of the above 10670736 Nos. of shares are held by
Prysmain Cavi E Sistemi Energla S.R.L., Italy [Holding Company] which includes
4499936 Nos. of shares of Rs. 10/- each at a premium of Rs. 125/- per share
were issued and allotted during the year)
(Of the above shares 5150150 nos. of shares
were allotted as fully paid up bonus shares by capitalization of Rs. 51.501
millions from securities premium and general reserve)
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 |
209.230 |
209.230 |
164.231 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
849.818 |
1048.577 |
574.723 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1059.048 |
1257.807 |
738.954 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
379.520 |
255.580 |
726.324 |
|
|
2] Unsecured Loans |
92.582 |
95.661 |
105.661 |
|
|
TOTAL BORROWING |
472.102 |
351.241 |
831.985 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
1.300 |
|
|
|
|
|
|
|
|
TOTAL |
1531.150 |
1609.048 |
1572.239 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
215.090 |
224.363 |
248.568 |
|
|
Capital work-in-progress |
1.272 |
5.204 |
0.350 |
|
|
|
|
|
|
|
|
INVESTMENT |
291.223 |
196.202 |
196.202 |
|
|
DEFERREX TAX ASSETS |
25.855 |
6.407 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
436.409
|
429.245
|
447.199 |
|
|
Sundry Debtors |
1181.110
|
569.694
|
794.718 |
|
|
Cash & Bank Balances |
133.302
|
285.651
|
137.427 |
|
|
Other Current Assets |
2.712
|
4.562
|
0.000 |
|
|
Loans & Advances |
139.010
|
110.073
|
347.185 |
|
Total
Current Assets |
1892.543
|
1399.225
|
1726.529 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
775.467
|
157.020
|
12.401 |
|
|
Other Current Liabilities |
105.121
|
61.755
|
263.316 |
|
|
Provisions |
14.245
|
3.578
|
212.084 |
|
Total
Current Liabilities |
894.833
|
222.353
|
599.410 |
|
|
Net Current Assets |
997.710
|
1176.872
|
1127.119 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1531.150 |
1609.048 |
1572.239 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales of Production and Services |
2598.598 |
1660.988 |
3049.957 |
|
|
|
Other Income |
49.600 |
11.704 |
8.177 |
|
|
|
TOTAL (A) |
2648.198 |
1672.692 |
3058.134 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing and Other Expenses |
2497.943 |
1325.854 |
2453.745 |
|
|
|
Employees Remuneration and Benefits |
131.648 |
97.488 |
106.253 |
|
|
|
Selling and Distribution Expenses |
168.230 |
206.075 |
0.000 |
|
|
|
Exchange Rate Difference |
0.000 |
0.000 |
62.283 |
|
|
|
(Increase) / Decrease in Stock |
0.000 |
0.000 |
140.761 |
|
|
|
TOTAL (B) |
2797.821 |
1629.417 |
2763.042 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(149.623) |
43.275 |
295.092 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
31.341 |
74.763 |
125.602 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(180.964) |
(31.488) |
169.490 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
36.653 |
40.672 |
44.144 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(217.617) |
(72.160) |
125.346 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(18.858) |
(7.025) |
45.061 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(198.759) |
(65.135) |
80.285 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
200.486 |
265.621 |
227.038 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
10.000 |
|
|
|
Proposed Dividend |
0.000 |
0.000 |
27.098 |
|
|
|
Tax on Proposed Dividend |
0.000 |
0.000 |
4.604 |
|
|
BALANCE CARRIED
TO THE B/S |
1.727 |
200.486 |
265.621 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
114.805 |
485.573 |
992.131 |
|
|
|
Income from Services |
0.000 |
0.000 |
2.398 |
|
|
|
Gain on Exchange |
0.000 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
114.805 |
485.573 |
994.529 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
781.464 |
278.064 |
122.509 |
|
|
|
Capital Goods |
1.971 |
0.136 |
5.378 |
|
|
|
Trading Goods |
378.642 |
13.671 |
94.504 |
|
|
TOTAL IMPORTS |
1162.077 |
291.871 |
222.391 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(9.50) |
(3.76) |
4.89 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(7.50)
|
(3.89)
|
2.63 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(8.37)
|
(4.34)
|
4.11 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(10.32)
|
(4.44)
|
6.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.20)
|
(0.05)
|
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.29
|
0.45
|
1.94 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.11
|
6.29
|
2.88 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
775.467
|
157.020
|
12.401 |
OPERATIONAL
PERFORMANCE
For the year the
Company achieved a turnover of Rs.2598.598 millions (Previous Year -
Rs.1660.988 millions). The Company has incurred Net Loss of Rs.198.759 millions
(Previous Year – Net Profit of Rs. 65.135 millions). the company registered an
increase of more than 50% in sale turnover as compared to previous year. The
director are confident of improving the performance during the current
financial year.
|
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions of the firm |
Yes |
|
4. Premises details |
Yes |
|
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 |
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% |
No |
|
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 |
No |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
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 |
FORM 8
|
Corporate
identity number of the company |
U31300MH1982PLC028700 |
|
Name of the
company |
RAVIN CABLES
LIMITED |
|
Address of the
registered office or of the principal place of business in |
302, Akruti Trade Centre, 3rd Floor, Road No. 7, MIdC, Marol, Andheri (East), Mumbai – 400 093, Maharashtra , India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) Floating charge Others |
|
Particular of
charge holder |
Central Bank of India, Abdul Rehman Street Branch, 142/144, Abdul
Rehman Street, Mumbai – 400 003, Maharashtra, India. |
|
Nature of
instrument creating charge |
1.Working Capital
Facility Agreement 2.Deed of
Hypothecation 3.Memorandum of
Entry For Extension of Mortgage/Charge (All The
Agreement Constitute A Single Charge) |
|
Date of
instrument Creating the charge |
10.08.2011 |
|
Amount secured by
the charge |
Rs. 2150.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest C.C, Overdraft
and L.C Base Rate +4.25 % I.E Present Floating And Packing Credit/Export
Bills Purchases/Negotiated /EBRD As Per Fedai Rules And As Stipulated By Bank
From Time To Time Terms of repayment As Stipulated By
Bank From Time To Time Margin Packing
credit/export bills purchased/negotiated/EBRD -25 %-cash/term deposits Cash credit -25 % Overdraft -40 % Letter of
credit-25 %-cash /term loan deposits Bank guarantees-10
And/ or as stipulated by bank from time to time Extent and operation of the charge Total limit
Rs.215crs(p. C cum packing credit in foreign currency cum export bills
purchased / discounted / EBRD / export bills negotiated Rs. 300.000 millions,
sub limit -direct bills Rs.(10.00), C. C (hypothecation stocks) Rs. 170.000
millions, overdraft against book debts Rs. 180.000 millions, inland/foreign
l. C (DP / DA-usance 180 days) Rs. 250.000 millions, sub limit back to back
LC Rs (25.00), b. g: inland / foreign guarantees Rs.1250.000 millions, sub
limit back to back guarantees Rs (250.000) millions) Other As Stipulated By
Bank From Time To Time |
|
Short particulars
of the property charged (Including location of the property) |
First Charge(Present
And Future) on Following Assets-(1) Hypothecation of All Stock / Goods /
Inventories / Products Kept At Borrower Places / Premises / Godown /
Factories Etc And / or Where ever else
And / or In Transit Including Brought / Imported / Procured Under Letter of
Credit/Packing Credit /Bank Finance (2) Hypothecation
of All Book Debts And Receivables Including Hypothecation of All Export
Documentary Bills (3) Hypothecation
of All Current, Movable Fixed Assets
of The Company (4) Emg of Office
Premises Bearing No 302 At Akruti Trade Centre, 3rd Floor Lying And Being At
Road No 7, MIDC, Marol, Andheri-East Mumbai-93 (5) Hypothecation
of All Assets/Machinery Purchased Out of Bank Finance And All Movable Fixed
Assets Except The Movable Fixed Assets Financed By The Shamrao Vithal
Co-Oporative Bank Limited Second Charge
(Present And Future) – Hypothecation of All Assets, Land And Building And
Plant Machinery Purchased Out of Bank Finance Availed From Svc. |
|
Charge
identification number of the charge to be modified |
90240523 |
|
Particulars of
the present modification |
By This
Modification Limit Enhanced From Rs.1250.000 millions To 2150.000 millions,
Securities are Continued As Given By Original Charge |
FIXED ASSETS
v
Computer Software
v
Land
v
Building
v
Plant and machinery
v
Vehicles
v
Furniture and Fixtures
v
Computer and Peripherals
v
Office Equipment
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. 56.42 |
|
|
1 |
Rs. 87.37 |
|
Euro |
1 |
Rs. 69.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
PRL |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.