1. Summary Information
|
|
|
Country |
|
|
Company Name |
THREADS (INDIA)
LIMITED |
Principal Name 1 |
Mr. Gopal Chandra Lohia |
|
Status |
Good |
Principal Name 2 |
Mr. Jitendra Kumar Lohia |
|
|
|
Registration # |
20-006119 |
|
Street Address |
D-3/A, Panki
Industrial Estate, Kanpur - 208 022, Uttar Pradesh |
||
|
Established Date |
28.05.1983 |
SIC Code |
-- |
|
Telephone# |
91-512-2691221 |
Business Style 1 |
Manufacturers |
|
Fax # |
91-512-2691249 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Sewing Thread of Man-Made Filaments of Synthetic |
|
|
# of employees |
500
[Approximately] |
Product Name 2 |
Sewing Thread of Man-made staple Fibre of Synthetic |
|
Paid up capital |
Rs.20,000,000/- |
Product Name 3 |
Braided Twine, Cordage, Rope and Cables |
|
Shareholders |
Bodies corporate-100.00 % |
Banking |
State Bank of
India |
|
Public Limited Corp. |
NO |
Business Period |
29. Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba (50) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
-- |
Prashant Commercial Holdings Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
217,515,000 |
Current Liabilities |
67,498,000 |
|
Inventories |
230,644,000 |
Long-term Liabilities |
346,533,000 |
|
Fixed Assets |
255,946,000 |
Other Liabilities |
21,626,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
435,657,000 |
|
Invest& other Assets |
22,958,000 |
Retained Earnings |
271,406,000 |
|
|
|
Net Worth |
291,406,000 |
|
Total Assets |
727,063,000 |
Total Liab. & Equity |
727,063,000 |
|
Total Assets (Previous Year) |
554,940,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
799,418,000 |
Net Profit |
42,217,000 |
|
Sales(Previous yr) |
622,049,000 |
Net Profit(Prev.yr) |
37,930,000 |
MIRA
INFORM REPORT
|
Report Date : |
14.05.2012 |
s
IDENTIFICATION DETAILS
|
Name : |
THREADS ( |
|
|
|
|
Registered
Office : |
D-3/A, Panki Industrial Estate, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
28.05.1983 |
|
|
|
|
Com. Reg. No.: |
20-006119 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.20.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17116UP1983PTC006119 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
KNPT00069G KNPT01161G KNPT00191C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT5205H |
|
|
|
|
Legal Form : |
A closely held public limited liability company |
|
|
|
|
Line of Business
: |
Manufacturers
of Synthetic Sewing Threads. |
|
|
|
|
No. of Employees
: |
500 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1200000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Lohia Group. It is a well established and a
reputed company having good 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 good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 : |
D-3/A, Panki Industrial Estate, |
|
Tel. No.: |
91-512-2691221 / 282001-9 |
|
Fax No.: |
91-512-2691249 / 282012 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 sq ft |
|
Location : |
Owned |
|
|
|
|
Head Office/ Factory 1: |
Lohia Industrial Complex, Chaubepur, Kanpur-209203, |
|
Tel. No.: |
91-5112-282001/9 |
|
Fax No.: |
91-5112-282012 / 282880 |
|
Location : |
Owned |
|
|
|
|
Factory 2: |
Plot No. S-9, |
|
|
|
|
Branches: |
Located At: ·
Ahmedabad ·
·
Chennai ·
Gurgaon ·
·
Kolkata ·
·
Mumbai ·
Noida ·
|
DIRECTORS
As on 29.09.2011
|
Name : |
Mr. Gopal Chandra Lohia |
|
Designation : |
Managing Director |
|
Address : |
7/153 – B, Swaroop Nagar, |
|
Date of Birth/Age : |
05.07.1937 |
|
Date of Appointment : |
16.05.1986 |
|
DIN No.: |
00203506 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U29269UP1982PTC005581 |
Lohia
Engineering Works Private Limited |
Director |
06-03-82 |
06-03-82 |
Strike off |
NO |
|
2 |
U29263UP1981PLC005446 |
Lohia Starlinger
Limited |
Director |
04-04-83 |
04-04-83 |
Active |
NO |
|
3 |
U17116UP1983PLC006119 |
Threads ( |
Managing
director |
01-03-11 |
16-05-86 |
Active |
NO |
|
4 |
U17115UP1987PLC009240 |
Lohia Packaging
Machines Limited |
Director |
31-12-87 |
31-12-87 |
Active |
NO |
|
|
|
|
Name : |
Mr. Jitendra Kumar Lohia |
|
Designation : |
Director |
|
Address : |
Saket, 3 A/ 88, Azad Nagar, |
|
Date of Birth/Age : |
16.03.1935 |
|
Date of Appointment : |
17.09.1996 |
|
DIN No.: |
00203384 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U29269UP1982PTC005581 |
Lohia
Engineering Works Private Limited |
Director |
02-04-85 |
02-04-85 |
Strike off |
NO |
|
2 |
U17116UP1983PLC006119 |
Threads ( |
Director |
17-09-96 |
17-09-96 |
Active |
NO |
|
|
|
|
Name : |
Mr. Ajay Kumar Lohia |
|
Designation : |
Whole Time Director |
|
Address : |
7/153 – B, Swaroop Nagar, |
|
Date of Birth/Age : |
03.04.1965 |
|
Date of Appointment : |
27.07.2002 |
|
DIN No.: |
00205223 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U65191UP1996PTC020815 |
Shipra Finsec
Private Limited |
Director |
09-10-96 |
09-10-96 |
Active |
NO |
|
2 |
U70200UP1997PTC021941 |
Shri Foundries
and Engineering Works Private Limited |
Director |
13-05-97 |
13-05-97 |
Active |
NO |
|
3 |
U17116UP1983PLC006119 |
Threads ( |
Whole-time
director |
27-07-07 |
27-07-02 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Adesh Tandon and Associates |
|
Designation : |
Company Secretaries |
|
Address: |
Kan Chambers
Office No. 811, 8th Floor, 14/113, Civil Lines, Kanpur-208001, Uttar Pradesh,
India |
|
Tel No.: |
91-512-2332397 /
2535135 |
|
Mobile No.: |
91-9839100709 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Jitendra Kumar Lohia |
|
15 |
|
Gopal Chandra Lohia |
|
1 |
|
Urmila Devi Lohia |
|
1 |
|
Ajay Kumar Lohia |
|
1 |
|
Shradha Lohia |
|
1 |
|
Sumya Lohia |
|
1 |
|
Prashant Commercial Holdings Limited, |
|
1999980 |
|
|
|
|
|
Total |
|
2000000 |
As on 29.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers
of Synthetic Sewing Threads. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Actual
Production |
|
Synthesc Sewing Thread |
MT |
2500 |
1360.453 |
GENERAL INFORMATION
|
No. of Employees : |
500 [Approximately] |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
·
State Bank of India, Overseas Branch, 15/54 B, Virendra
Smriti Complex, Civil Lines, Kanpur-208001, Uttar Pradesh, India. ·
Industrial Development Bank of India Limited,
15/54 – B, Virendra Smriti, Civil Lines, Kanpur-208001, ·
HDFC Bank Limited |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Anil Pariek and Garg Chartered Accountants |
|
Address : |
33, Anand Bazar, Swaroop Nagar, Kanpur-208002, |
|
PAN No.: |
AAAFG6229R |
|
|
|
|
Holding Company: |
Prashant Commercial Holdings Limited (L67120UP1983PLC006093) |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000
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 |
20.000 |
20.000 |
20.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
271.406 |
229.300 |
191.655 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
291.406 |
249.300 |
211.655 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
346.533 |
231.966 |
239.186 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
346.533 |
231.966 |
239.186 |
|
|
DEFERRED TAX LIABILITIES |
14.915 |
13.961 |
16.770 |
|
|
|
|
|
|
|
|
TOTAL |
652.854 |
495.227 |
467.611 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
255.946 |
209.425 |
225.091 |
|
|
Capital work-in-progress |
13.508 |
3.149 |
0.470 |
|
|
|
|
|
|
|
|
INVESTMENT |
9.450 |
9.450 |
0.019 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
230.644
|
148.779
|
135.319
|
|
|
Sundry Debtors |
185.437
|
152.370
|
131.363
|
|
|
Cash & Bank Balances |
5.246
|
10.386
|
7.953
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
26.832
|
21.381
|
16.124
|
|
Total
Current Assets |
448.159
|
332.916
|
290.759
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
39.374
|
34.340
|
38.108
|
|
|
Other Current Liabilities |
28.124
|
18.533
|
4.180
|
|
|
Provisions |
6.711
|
6.840
|
6.440
|
|
Total
Current Liabilities |
74.209
|
59.713
|
48.728
|
|
|
Net Current Assets |
373.950
|
273.203
|
242.031
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
652.854 |
495.227 |
467.611 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
799.418 |
622.049 |
547.509 |
|
|
|
Other Income |
9.228 |
6.437 |
5.175 |
|
|
|
TOTAL (A) |
808.646 |
628.486 |
552.684 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Materials Changes Inventories |
411.308 |
303.429 |
320.607 |
|
|
|
Manufacturing Service Costs |
56.119 |
40.333 |
73.495 |
|
|
|
Employee Related Expenses |
111.916 |
83.203 |
80.310 |
|
|
|
Administrative Selling Other Expenses |
113.324 |
94.936 |
0.000 |
|
|
|
Extraordinary Items |
0.274 |
8.396 |
|
|
|
|
TOTAL (B) |
692.941 |
530.297 |
474.412 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
115.705 |
98.189 |
78.272 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
28.008 |
18.179 |
23.476 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
87.697 |
80.010 |
54.796 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
23.407 |
19.986 |
23.703 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
64.290 |
60.024 |
31.093 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
22.073 |
22.094 |
9.728 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
42.217 |
37.930 |
21.365 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
179.030 |
141.278 |
129.223 |
|
|
|
|
|
|
|
|
|
Add / Less |
EXPENSES
RELATED TO EARLIER YEARS |
(0.024) |
(0.178) |
0.007 |
|
|
|
|
|
|
|
|
|
Add / Less |
DEPRECIATION
RELATED TO EARLIER YEARS |
0.000 |
0.000 |
9.303 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
221.223 |
179.030 |
141.278 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
117.394 |
84.171 |
63.407 |
|
|
|
Job Work Receipts |
|
1.396 |
1.412 |
|
|
TOTAL EARNINGS |
117.394 |
85.567 |
64.819 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
83.688 |
90.507 |
|
|
|
Stores & Spares |
|
0.864 |
0.846 |
|
|
|
Capital Goods |
|
8.205 |
3.075 |
|
|
TOTAL IMPORTS |
NA |
92.757 |
94.428 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
21.11 |
18.97 |
10.68 |
|
%20LIMITED%20-%20179482%2014-May-2012_files/image001.gif){kind=small}
%20LIMITED%20-%20179482%2014-May-2012_files/image002.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.22
|
6.04
|
3.87 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.04
|
9.65
|
5.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.13
|
11.07
|
6.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.24
|
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.44
|
1.17
|
1.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.04
|
5.57
|
5.97 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
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% |
-- |
|
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 |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
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 |
OPERATIONS:
Performance of the
Company during the year can be termed quite satisfactory. The Company achieved
a net turnover of Rs. 799.400 Millions compared to previous year figure of Rs. 620.700
Millions, thus recording a growth of 28.79. Operating margins during the year,
were affected due to increase in prices of man-made fibre, however, the Company
still could achieve Operating Profit of Rs. 115.800 Millions as against Rs.
106.000 Millions of last year.
CONTINGENT
LIABILITIES:
|
Particular |
As
on 31.03.2010 (Rs.
in millions) |
As
on 31.03.2009 (Rs.
in millions) |
|
Claims against the company not acknowledged as debts |
2.540 |
2.165 |
|
Demand of central excise department for excise duty which the company
has not admitted and is under contest |
0.573 |
0.573 |
|
Demand of textile committee for cess which the company has not
admitted and is under contest. |
0.447 |
0.447 |
|
Demand of sales tax department for sales tax which the company has not
admitted and is under contest. |
0.240 |
0.240 |
|
Demand of sales tax department for sales tax which the company has not
admitted and is under contest. |
3.403 |
2.716 |
|
In respect of counter guarantee given to bank against guarantee given
by them |
0.600 |
0.942 |
|
Custom duty payable in case of non fulfillment of export obligation
under EPCG scheme |
3.709 |
0.000 |
|
Liability for bills discounted from banks against letter of credit |
6.864 |
4.327 |
|
Total |
18.376 |
11.410 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Creation of charge |
|
Corporate identity number of the company |
U17116UP1983PLC006119 |
|
Name of the company |
THREADS (INDIA) LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
D-3/ A, Panki Industrial Estate, Kanpur-208022, Uttar Pradesh, India E-mail : til@threadsindia.com
|
|
Type of charge |
·
Immovable property ·
Movable property (not being pledge) |
|
Particular of charge holder |
State Bank of India, Overseas Branch, 15/54 B, Virendra Smriti
Complex, Civil Lines, Kanpur-208001, Uttar Pradesh, India E-mail : sbiobcan@sancharnet.com |
|
Nature of description of the instrument creating or modifying the
charge |
Agreement of Hypothecation of Goods and Assets dated 23rd July, 2011
and Arrangement letter dated 16th July, 2011. |
|
Date of instrument Creating the charge |
23.07.2011 |
|
Amount secured by the charge |
Rs.50.000 Millions |
|
Brief particulars of the principal terms an conditions and extent and
operation of the charge |
Rate of Interest 3.25% above base rate (present
effective rate 12.75% p.a.). Terms of Repayment Repayment in 17 quarterly installments commencing from 31st December,
2011. Margin As per Arrangement Letter of State Bank of India dated 16th July,
2011. Extent and Operation of the charge Pari-passu first charge on the fixed assets, including equitable
mortgage of land and building (both present and future). Extension of second charge on the entire current assets of the
Company, both present and future. |
|
Short particulars of the property charged |
Plot no.484, 485A, 485B, part of plot no. 405, 474,475 and 492,493,
505, 417 and 444. All above situated at village, Amiliha, Tehshil Bilhaur, Kanpur Plot no. S-9 at Doddaballapur, Bangalore |
FIXED ASSETS
·
Land
·
Building
·
Plant And Machinery
·
Furniture
·
Office Equipment
·
Vehicle
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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.53.64 |
|
|
1 |
Rs.86.42 |
|
Euro |
1 |
Rs.69.29 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.