|
Report Date : |
27.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
RADHE ALLOY CAST PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No.2/1 Paiki, Padavla Road, Taluka: Kotda Sangani, Shapar,
Veraval, Rajkot – 360002, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
10.03.2007 |
|
|
|
|
Com. Reg. No.: |
04-050065 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.125.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28112GJ2007PTC050065 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCR5433O |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Ductile Iron/ Cast Iron Castings. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 563000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The financial
position of the company is under pressure. Even though the company has achieved some growth in its sales during
2011, there appears some dip in the profitability. The profits are vulnerable to adverse fluctuation in raw materials
prices. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting for
more than half of India's output, with only one-third of its labor force. India
has capitalized on its large educated English-speaking population to become a
major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loans = B+ |
|
Rating Explanation |
High Risk of default. |
|
Date |
September, 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
Cash Credit Facility = B+ |
|
Rating Explanation |
High Risk of default. |
|
Date |
September, 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ 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. Vijay |
|
Designation : |
Manager |
|
Contact No.: |
91-9824493578 |
|
Date : |
26.10.2012 |
LOCATIONS
|
Registered Office : |
Survey No.2/1 Paiki, Padavla Road, Taluka: Kotda Sangani, Shapar, Veraval,
Rajkot – 360002, Gujarat India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9824493578 (Mr. Vijay) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Manufacturing Unit Located at: · Vadodara Gujarat, India |
DIRECTORS
(AS ON 30.09.2011)
|
Name : |
Mr. Mihir Chimanlal Shingala |
|
Designation : |
Director |
|
Address : |
Dharti Apartment, Block No.5, 2nd Floor, Dharmajivan Main
Road, Near Bhatinagar Circle, Rajkot – 360002, Gujarat, India |
|
Date of Birth/Age : |
04.09.1986 |
|
Date of Appointment : |
25.03.2011 |
|
DIN No.: |
03477817 |
|
|
|
|
Name : |
Mr. Shaileshbhai Meghjibhai Shingala |
|
Designation : |
Director |
|
Address : |
Geeta Nagar Main Road, Bhaktinagr Circle, Flat No.A-404, Mansatirth
No.1, Rajkot – 360002, Gujarat, India |
|
Date of Birth/Age : |
26.11.1970 |
|
Date of Appointment : |
25.03.2007 |
|
DIN No.: |
01056144 |
|
|
|
|
Name : |
Mr. Sureshbhai Vallabhbhai Shingala |
|
Designation : |
Director |
|
Address : |
Meghdoot, 1/9, Master Society, 80 Feet Road, Rajkot – 360002, Gujarat,
India |
|
Date of Birth/Age : |
02.10.1967 |
|
Date of Appointment : |
10.03.2007 |
|
DIN No.: |
02546602 |
|
|
|
|
Name : |
Mr. Bharat Virjibhai Gadhiya |
|
Designation : |
Director |
|
Address : |
5, Mehul Nagar, Near School No.58, Kothariya Road, Rajkot – 360002, Gujarat,
India |
|
Date of Birth/Age : |
13.07.1984 |
|
Date of Appointment : |
10.03.2007 |
|
DIN No.: |
02546629 |
|
|
|
|
Name : |
Mr. Dilipbhai Ramjibhai Bodar |
|
Designation : |
Director |
|
Address : |
Parth, 1/9 Master Society, Near Bhaktinagar Circle, Rajkot – 360002,
Gujarat, India |
|
Date of Birth/Age : |
11.02.1970 |
|
Date of Appointment : |
10.03.2007 |
|
DIN No.: |
02546557 |
|
|
|
|
Name : |
Mr. Jigneshbhai Parshottambhai Gadhiya |
|
Designation : |
Director |
|
Address : |
5, Mehul Nagar, Near School No.58, Kothariya Road, Rajkot – 360002,
Gujarat, India |
|
Date of Birth/Age : |
28.10.1982 |
|
Date of Appointment : |
10.03.2007 |
|
DIN No.: |
02546692 |
|
|
|
|
Name : |
Mr. Kanaiyalal Ramajibhai Budar |
|
Designation : |
Director |
|
Address : |
Parth, 1/9 Master Society, Near Bhaktinagar Circle, Rajkot – 360002,
Gujarat, India |
|
Date of Birth/Age : |
19.12.1975 |
|
Date of Appointment : |
10.03.2007 |
|
DIN No.: |
02546580 |
|
|
|
|
Name : |
Mr. Nileshkumar Bhagvanjibhai Gadhiya |
|
Designation : |
Director |
|
Address : |
5, Mehul Nagar, Near School No.58, Kothariya Road, Rajkot – 360002,
Gujarat, India |
|
Date of Birth/Age : |
18.11.1982 |
|
Date of Appointment : |
10.03.2007 |
|
DIN No.: |
02553137 |
|
|
|
|
Name : |
Mr. Shaileshkumar Bhimjibhai Gadhia |
|
Designation : |
Director |
|
Address : |
5, Mehul Nagar, Near School No.58, Kothariya Road, Rajkot – 360002,
Gujarat, India |
|
Date of Birth/Age : |
15.06.1969 |
|
Date of Appointment : |
10.03.2007 |
|
DIN No.: |
02546647 |
|
|
|
|
Name : |
Mr. Sureshbhai Gadhia Keshabhai |
|
Designation : |
Director |
|
Address : |
5, Mehul Nagar, Near School No.58, Kothariya Road, Rajkot – 360002,
Gujarat, India |
|
Date of Birth/Age : |
26.06.1969 |
|
Date of Appointment : |
10.03.2007 |
|
DIN No.: |
02546532 |
|
|
|
|
Name : |
Mr. Chamanbhai Vallabhbhai Shingala |
|
Designation : |
Director |
|
Address : |
Dharti Apartment, Block No.5, 2nd Floor, Dharmajivan Main Road,
Near Bhatinagar Circle, Rajkot – 360002, Gujarat, India |
|
Date of Birth/Age : |
20.07.1965 |
|
Date of Appointment : |
16.10.2008 |
|
DIN No.: |
02546532 |
KEY EXECUTIVES
|
Name : |
Mr. Vijay |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Bharat Virjibhai Gadhiya |
|
625000 |
|
Jigneshbhai Parshottambhai Gadhiya |
|
625000 |
|
Nileshkumar Bhagvanjibhai Gadhiya |
|
625000 |
|
Sureshbhai Gadhia Keshabhai |
|
625000 |
|
Dilipbhai Ramjibhai Bodar |
|
625000 |
|
Sureshbhai Vallabhbhai Shingala |
|
4035000 |
|
Kanaiyalal Ramajibhai Budar |
|
312500 |
|
Shaileshkumar Bhimjibhai Gadhia |
|
625000 |
|
Shaileshbhai Meghjibhai Shingala |
|
1562500 |
|
Chamanbhai Vallabhbhai Shingala |
|
2840000 |
|
|
|
|
|
Total |
|
12500000 |
(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 of Ductile Iron/ Cast Iron Castings. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
· Kirloskar Foundry |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Customers : |
Wholesalers and Retailers · Mahindra and Mahindra Limited |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
100 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· State Bank of India Commercial Branch, Noble House, Near Jalram Petrol Pump, Kalawad Road,
Rajkot – 360001, Gujarat, India |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
Cash Credit = Rs.25.000
Millions from State Bank of India
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institutions : |
· Tata Capital Limited Ewart House, 3rd Floor, 22 Homi Mody Street, Mumbai –
400001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
S A D P and Company Chartered Accountant |
|
Address : |
B B House, 5-College Wadi, Opposite
Kathiawad Gymkhana, Gate No.2, Rajkot – 360001, India |
|
PAN No.: |
ABMFS0241G |
|
|
|
|
Enterprise under
significant influence of key management Person: |
· Radhe Enterprise · Rameshwar Technocast · Vishnu Technocast · Vardhman Cast |
CAPITAL STRUCTURE
(AS ON 30.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12500000 |
Equity Shares |
Rs.10/- each |
Rs.125.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12500000 |
Equity Shares |
Rs.10/- each |
Rs.125.000
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 |
125.000 |
125.000 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
74.873 |
|
|
3] Reserves & Surplus |
15.673 |
9.811 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
140.673 |
134.811 |
74.973 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
79.594 |
100.885 |
39.180 |
|
|
2] Unsecured Loans |
0.000 |
2.000 |
10.752 |
|
|
TOTAL BORROWING |
79.594 |
102.885 |
49.932 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
220.267 |
237.696 |
124.905 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
192.815 |
181.702 |
127.114 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
12.453 |
9.723 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
16.794
|
21.055 |
4.024 |
|
|
Sundry Debtors |
27.244
|
17.845 |
0.109 |
|
|
Cash & Bank Balances |
0.256
|
0.102 |
0.046 |
|
|
Other Current Assets |
0.000
|
0.000 |
13.143 |
|
|
Loans & Advances |
11.468
|
27.496 |
3.407 |
|
Total
Current Assets |
55.762
|
66.498 |
20.729 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
36.173 |
17.131 |
31.541 |
|
|
Other Current Liabilities |
0.695
|
0.998 |
0.888 |
|
|
Provisions |
4.576
|
3.005 |
0.128 |
|
Total
Current Liabilities |
41.444
|
21.134 |
32.557 |
|
|
Net Current Assets |
14.318
|
45.364 |
(11.828) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.681 |
0.907 |
9.619 |
|
|
|
|
|
|
|
|
TOTAL |
220.267 |
237.696 |
124.905 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
|
320.578 |
153.563 |
|
|
|
Other Income |
|
NA |
NA |
|
|
|
TOTAL |
|
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
334.226 |
174.832 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
3.862 |
0.087 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
(2.000) |
(9.724) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
5.862 |
9.811 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
0.47 |
2.15 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
330.000 |
|
|
|
|
|
Expected Sales (2012-13): Rs.350.000 Millions
The above information has been parted by Mr. Vijay.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
1.20
|
0.06 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.55
|
0.04 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.00 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.86
|
0.92 |
1.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35
|
3.15 |
0.64 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
- Creditors due others |
36.173 |
17.131 |
31.541 |
|
|
|
|
|
|
Total |
36.173 |
17.131 |
31.541 |
|
Sr. No. |
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 two years |
Yes |
|
12] |
Profitability for last two 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) |
No |
|
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] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
TRADE REFERENCE:
· Mahindra and Mahindra Limited
· Kirloskar Foundry
FORM 8
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U28112GJ2007PTC050065 |
|
Name of the
company |
Radhe Alloy Cast
Private Limited |
|
Address of the
registered office or of the principal place of business in |
Survey No. 2/1 Paiki,
Padavla Road, Taluka: Kotda Sangani, Shapar, Veraval – 360002, Gujarat, India |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
State Bank of
India Commercial
Branch, Noble House, Near Jalaram Petrol Pump, Kalawad Road, Rajkot – 360001,
Gujarat, India |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum
relating to deposit of title deeds for creation of charge for term
loan/overall limit |
|
Date of
instrument Creating the charge |
30/03/2010 |
|
Amount secured by
the charge |
Rs.137.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate of Interest Cash Credit Loan:
At SBAR as against risk rating of SB 6 and the applicable pricing of 2% above
SBAR. Term Loan:0.50%
above SBAR as against risk rating SB-7 and corresponding pricing of 2.5%
above SBA Terms of
Repayment Working Capital:
valid for 12 months however repayable on demand. Term Loan I: To
be repaid in 60 monthly installment of Rs.0.700 Million commencing from the
month of disbursement Term Loan II: To
be repaid in 75 monthly installment of Rs.1.000 Million commencing from April
2010 Margin Raw Material:
25%, Stock in process: 30%, Finished Goods: 30%, Receivables (Cover 90 Days):
40%. Term Loan: : Plant and Machinery: 36% Extent and
Operation of the charge Equitable
mortgage over the immovable property as described in memorandum of deposit of
Title Deed |
|
Short particulars
of the property charged |
Land admeasuring
9308.00 sq. mtr. along with construction of industrial shed thereon situated at
Survey No. 2/1 Paiki, at Village: Veraval (Shapar) Taluka Kotda Sangani,
District Rajkot. Industrial NA
land admeasuring 440.11 sq mtr situated at Plot No 11 of Veraval (Shapar), R
Survey No 2/2 Paiki, Village Veraval (Shapar), Taluka: Kotda Sangani, District
Rajkot. Land admeasuring
431.34 sq yards along with structure thereon at R S No. 290,290/1,291,292,
Paiki of 672 City Survey Ward No 10 City Survey No 2158 located at 9 master
societies Rajkot. |
|
Whether any of the property or interest therein under reference is not
registered in the name of the company |
Yes |
|
If yes, in whose name it is registered |
Property
mentioned in the name of Mr. Sureshbhai Vallabhbhai Shingala) |
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Other Equipments
·
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 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.53.63 |
|
|
1 |
Rs.86.18 |
|
Euro |
1 |
Rs.69.75 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
32 |
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.