|
Report Date : |
16.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
DEFIANCE KNITTING INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
K-6, Additional Ambernath, Industrial Estate Area, MIDC, Ambernath
(East), Thane-421506, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
27.12.1993 |
|
|
|
|
Com. Reg. No.: |
11-75811 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.332.453
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17100MH1993PTC075811 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD05069B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD2225R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of All kinds of Yarn Cotton
Textiles. |
|
|
|
|
No. of Employees
: |
800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2800000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade relations
are reported as fair. Business is active. Payments are reported to be usually
correct 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.
INFORMATION PARTED BY
|
Name : |
Mr. Manoj Chopra |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-251-2621044 91-9930007001 |
|
Date : |
15.03.2012 |
LOCATIONS
|
Registered Office/ Factory : |
K-6, Additional Ambernath, Industrial Estate Area, MIDC, Ambernath
(East), Thane-421506, |
|
Tel. No.: |
91-251-2621044/ 2620067/ 2569389/ 6550105/ 6 |
|
Mobile No.: |
91-9930007001 (Mr. Manoj Chopra) |
|
Fax No.: |
91-251-2621055 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
(AS ON 30.09.2011)
|
Name : |
Mr. Sudhir Babubhai Vora |
|
Designation : |
Director |
|
Address : |
Flat No.2204, 392 AL Seef Tower, Dubai Marina, Dubai, UAE |
|
Date of Birth/Age : |
05.04.1956 |
|
Date of Appointment : |
27.12.1993 |
|
DIN No.: |
01212613 |
|
|
|
|
Name : |
Mr. Vanya Sudhir Vora |
|
Designation : |
Director |
|
Address : |
Flat No.2204, 392 AL Seef Tower, Dubai Marina, Dubai, UAE |
|
Date of Birth/Age : |
06.10.1966 |
|
Date of Appointment : |
01.02.1995 |
|
DIN No.: |
01212611 |
|
|
|
|
Name : |
Mr. Monoj Vasudev Prasad Oza |
|
Designation : |
Managing Director |
|
Address : |
303, |
|
Date of Birth/Age : |
14.07.1972 |
|
Date of Appointment : |
29.12.2006 |
|
DIN No.: |
00106211 |
|
|
|
|
Name : |
Mr. |
|
Designation : |
Additional Director |
|
Address : |
111, Sangeeta 27/28, |
|
Date of Birth/Age : |
01.04.1958 |
|
Date of Appointment : |
24.12.2006 |
|
DIN No.: |
01165058 |
|
|
|
|
Name : |
Mr. Avinash Sudhir Vora |
|
Designation : |
Whole Time Directors |
|
Address : |
2101 A |
|
Date of Birth/Age : |
05.05.1987 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
02973597 |
KEY EXECUTIVES
|
Name : |
Mr. Manoj Chopra |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
No. of Equity
Shares |
No. of
Preferences Shares |
|
|
|
|
|
Sudhir Vora |
1563476 |
1158939 |
|
Bharti Badlani |
423890 |
104279 |
|
Vinya Vora |
17000 |
-- |
|
Amritkumar Bakshy |
13 |
-- |
|
N.T. Dewani |
13 |
-- |
|
|
63 |
-- |
|
Manoj Oza |
63 |
-- |
|
Avinash Vora |
13 |
-- |
|
Jamno Perumal Kalwani |
-- |
56782 |
|
|
|
|
|
Total |
2004531 |
1320000 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of All kinds of Yarn Cotton
Textiles. |
|
|
|
|
Exports : |
|
|
Products : |
Cotton Textiles and Yarns |
|
Countries : |
USA |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
|
31.03.2011 (M.T.) |
|
|
|
|
|
Licensed Capacity |
|
6,000 |
|
Installed Capacity |
|
4,800 |
|
Production (Own) |
|
723.82 |
|
|
|
|
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and Manufacturer |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
800 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
ICICI Limited, 163, Backbay Reclamation, Mumbai-400020, Maharashtra, India ·
United Bank of ·
Standard Chartered Bank, Mumbai ·
Oriental Bank of Commerce, Ambernath Branch, Ambernath-421501, Thane, India ·
IDBI Bank Limited, IDBI Tower WTC Complex, Cuffe Parade, Mumbai- 400005, Maharashtra,
India |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
MGB and Associates Chartered Accountant |
|
Address : |
22, Swadeshi Market,1st Floor, Kalbadevi Road, Mumbai –
4000002, Maharashtra, India |
|
Tel. No.: |
AAOFM6839R |
CAPITAL STRUCTURE
(AS ON 31.03.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.100/- each |
Rs.250.000 Millions |
|
1500000 |
Preferences Shares |
Rs.100/ -each |
Rs.150.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.400.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2004531 |
Equity Shares |
Rs.100/- each |
Rs.200.453
Millions |
|
1320000 |
Preferences Shares |
Rs.100/ -each |
Rs.132.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.332.453 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 |
332.453 |
332.453 |
332.453 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
370.891 |
276.500 |
227.656 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
703.344 |
608.953 |
560.109 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
39.944 |
46.770 |
85.643 |
|
|
2] Unsecured Loans |
0.889 |
0.714 |
0.714 |
|
|
TOTAL BORROWING |
40.833 |
47.484 |
86.357 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
744.177 |
656.437 |
646.466 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
402.263 |
417.642 |
410.889 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
70.822
|
76.934 |
54.309
|
|
|
Sundry Debtors |
147.036
|
121.082 |
130.621
|
|
|
Cash & Bank Balances |
106.949
|
38.279 |
36.154
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
94.430
|
84.862 |
80.083
|
|
Total
Current Assets |
419.237
|
321.157 |
301.167 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
29.785
|
32.025 |
45.583
|
|
|
Other Current Liabilities |
11.151
|
32.333 |
14.291
|
|
|
Provisions |
36.387
|
18.004 |
5.716
|
|
Total
Current Liabilities |
77.323
|
82.362 |
65.590 |
|
|
Net Current Assets |
341.914
|
238.795 |
235.577
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
744.177 |
656.437 |
646.466 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
|
|
SALES AND OTHER
INCOME |
|
682.091 |
507.373 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT (LOSS)
BEFORE INTEREST AND FINANCE CHARGE |
|
137.955 |
76.205 |
|
|
|
|
|
|
|
|
|
|
INTEREST AND FINANCE
CHARGE |
|
2.747 |
4.806 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
DEPRECIATION |
|
135.208 |
71.399 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
AFTER TAX AND DEPRECIATION |
|
94.850 |
31.366 |
|
|
|
|
|
|
|
|
|
|
PROVISION FOR
TAXES |
|
6.056 |
5.350 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT /
(LOSS) |
|
94.575 |
31.366 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO BALANCE SHEET |
|
183.461 |
88.886 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
349.940 |
304.946 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Spares and Repair Maintenances |
|
4.745 |
17.342 |
|
|
|
Sundry Fees and Subscription |
|
0.053 |
0.036 |
|
|
|
Legal and Professional Charges |
|
0.049 |
0.214 |
|
|
|
Capital Goods |
|
18.910 |
0.000 |
|
|
TOTAL IMPORTS |
|
23.757 |
17.592 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
-- |
-- |
|
Expected Sales (2011-12): Rs.700.000 Millions
The above information has been parted by Mr. Manoj Chopra.
|
|
PARTICULARS |
|
|
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
491.692 |
|
|
|
Other Income |
|
|
59.347 |
|
|
|
TOTAL (A) |
|
|
551.039 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Consumed |
|
|
351.068 |
|
|
|
Manufacturing and Other Expenses |
|
|
56.843 |
|
|
|
Selling and Distribution Expenses |
|
|
7.168 |
|
|
|
Office and Administration Expenses |
|
|
52.748 |
|
|
|
Prior period adjustment |
|
|
0.056 |
|
|
|
TOTAL (B) |
|
|
467.883 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
83.156 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
|
|
3.616 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
79.540 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
39.194 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
|
|
40.346 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
0.444 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
|
39.902 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
(194.597) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Adjusted on Capital Reduction |
|
|
(212.214) |
|
|
BALANCE CARRIED
TO THE B/S |
|
|
57.519 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
271.743 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Spares and Repair Maintenances |
|
|
7.533 |
|
|
|
Sundry Fees and Subscription |
|
|
0.000 |
|
|
|
Legal and Professional Charges |
|
|
0.267 |
|
|
|
Capital Goods |
|
|
0.000 |
|
|
TOTAL IMPORTS |
|
|
7.800 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
12.56 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
7.24
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
8.21
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA
|
5.67
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA
|
0.07
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.17
|
0.21 |
0.27
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.42
|
3.90 |
4.59
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
Sundry Creditors |
|
|
|
|
-
Creditors
Due Small Micro Enterprises |
0.000 |
0.000 |
0.000 |
|
-
Creditors
Due Others |
29.785 |
32.025 |
45.583 |
|
|
|
|
|
|
Total |
29.785
|
32.025 |
45.583 |
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
|
|
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
Yes |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
----- |
|
No. of Employees |
Yes |
|
Name of Person Contacted |
Yes |
|
Designation of Contact person |
Yes |
|
Turnover of Firm for last three years |
Yes |
|
Profitability for last three years |
No |
|
Reasons for variation <> 20% |
----- |
|
Estimation for coming financial year |
Yes |
|
Capital in the business |
Yes |
|
Details of sister concerns |
Yes |
|
Major Suppliers |
No |
|
Major Customers |
No |
|
Payments Terms |
Yes |
|
Export/ Imports Details (If applicable) |
Yes |
|
Market Information |
----- |
|
Litigations that the firm/ Promoters Involved in |
----- |
|
Banking details |
Yes |
|
Banking Facility Details |
Yes |
|
Conduct of the Banking Account |
----- |
|
Buyer visit details |
----- |
|
Financials, if provided |
No |
|
Incorporation details is applicable |
----- |
|
Last Accounts filed at ROC |
----- |
|
Major Shareholders, if available |
----- |
CONTINGENT LIABILITIES NOT PROVIDED FOR (AS ON
31.03.2011)
a. Guarantees
provided by Bank Rs.3.631 Millions (Rs.3.631 Millions) against disputed excise
liability and MPCB, Apparel Export Promotion Council & Custom.
b. Demand of
Rs.0.039 Million (Rs.0.039 Millions) in respect of Octroi disputed by Company.
c. Demand of
Rs.43.504 Millions (Rs.43.504 Millions) in respect of excise and penalty
disputed by company. The company has deposited Rs.3.350 Millions (Rs.3.350
Millions) against the said demand.
d. Cash and Bank
Balances include fixed deposits of Rs. Nil (Rs.7.500 Millions) pledged as
security for credit facility granted to a related party.
e. Custom Duty on
pending export obligation for import under EPCG Scheme of Rs. Nil (Rs.10.140
Millions)
f. Claim against
the Company not acknowledged as debt Rs. 14.261 Millions (Rs.14.261 Millions).
Hon’ble High Court - Mumbai by its order has decreed the relevant suit against
the company with interest and cost. The Hon’ble Supreme Court has redirected
the matter back to City Civil Court with the direction to dispose of the matter
at the earliest as the Company has filed counter claim of Rs. 47.600 Millions
in the matter. As directed by the Hon’ble High Court, the Company has deposited
Rs. 4.400 Millions (.P.Y 4.400 Millions) with City Civil Court.
g. Customs and
Central Excise Duty of Rs.2.910 Millions (Rs.2.910 Millions) and penalty, which
is disputed by the Company.
h. Cess Liability
of Rs.0.714 Millions (Rs.0.714 Millions) for the period 2001-2002 to 2003-04,
which is disputed by the Company. The Company has paid Rs.0.456 Millions
(Rs.0.456 Millions) against the said liability under protest.
i. Disputed income
tax Demand of Rs.6.338 Millions (Rs.4.281 Millions) of which are pending before
higher authorities.
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90158902 |
|
Corporate
identity number of the company |
U17100MH1993PTC075811 |
|
Name of the
company |
DEFIANCE KNITTING
INDUSTRIES P LTD |
|
Address of the
registered office or of the principal place of business in |
K-6, Additional Ambernath, Industrial Estate Area, MIDC, Ambernath
(East), Thane-421506, |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Immovable
Property |
|
Particular of
charge holder |
IDBI Bank Limited, IDBI Tower WTC Complex, Cuffe Parade, Mumbai-400005, Maharashtra,
India |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental deed
of hypothecation made 04 |
|
Date of
instrument Creating the charge |
04.08.2010 |
|
Amount secured by
the charge |
Rs.79.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest As per Loan cum Hypothecation
agreement dated 24th February, 2010, Supplemental Hypothecation agreement
dated 04th August, 2010 Terms of
Repayment One year validity Extent and
Operation of the charge The charge is to
operate as a security for the repayment of Rs.79.000 Millions to the Bank Others Security by way
of first charge |
|
Short particulars
of the property charged |
All present and
future stocks, raw materials, goods, book debts, vehicles and all other
movable assets of the borrower and immovable property at Plot No.K-6, Addl
Ambernath Ind Area, Thane. |
|
Particulars of
the present modification |
Increase of the
following limits Cash Credit
Limit Rs.15.000
millions Packing Credit
Limit Rs.25.000
millions Bill Discounting Rs.15.000 millions Letter of
Credit Rs.6.000
millions Bank
Guarantee Rs.
4.000 millions LER (Limit
Equivalent Risk) Rs. 14.000
millions ----------------------------- Total
Rs. 79.000 millions |
FIXED ASSETS:
· Land
· Building
·
Plant and Machinery
· Office Equipment
·
Furniture and Fixtures
· Vehicles
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.50.22 |
|
|
1 |
Rs.78.64 |
|
Euro |
1 |
Rs.65.54 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.