MIRA
INFORM REPORT
|
Report Date : |
31.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
RIMTEX ENGINEERING PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
Plot No.2701, Phase Iv, GIDC, Wadhwan District, Surendra
Nagar – 363035, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
10.10.2003 |
|
|
|
|
Com. Reg. No.: |
04-043043 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.85.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29113GJ2003PTC043043 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMR02814A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCR7585E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Spinning Cans, Spinning Rings, Spinning
Travelers, Trolley and Aluminum Basket. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 150000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Even though
the company has achieved some growth in its sales turnover during 2011, it
has incurred loss. Financial position of the company is under pressure. There appears
some accumulated losses recorded by the company. However, trade relations are reported as fair. Business is active.
Payments are reported be slow. 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 |
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.
LOCATIONS
|
Registered Office : |
Plot No.2701, Phase Iv, GIDC, Wadhwan District, Surendranagar – 363035, Gujarat, India |
|
Tel. No.: |
91-2752-242323 |
|
Fax No.: |
91-2752-243726 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Gauravbhai Girdharlal Parmar |
|
Designation : |
Director |
|
Address : |
Near Aradhana Society, S. V. P. Road, Surendranagar – 363001, Gujarat,
India |
|
Date of Birth/Age : |
19.08.1978 |
|
Date of Appointment : |
10.10.2003 |
|
DIN No.: |
00028942 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29113GJ2003PTC043043 |
RIMTEX
ENGINEERING PRIVATE LIMITED |
Director |
10/10/2003 |
10/10/2003 |
Active |
NO |
|
2 |
U01403GJ2008PTC054940 |
BENCHMARX
LOGISTIC SOLUTIONS PRIVATE LIMITED |
Director |
02/09/2008 |
02/09/2008 |
Active |
NO |
|
3 |
U29199GJ1995PTC024986 |
KALPAR
ENGINEERS PRIVATE LIMITED |
Director |
30/09/2009 |
07/01/2009 |
Active |
NO |
|
4 |
U29259GJ1979PTC003450 |
RITEX
ENGINEERING PRIVATE LIMITED |
Additional
director |
15/06/2009 |
15/06/2009 |
Active |
NO |
|
5 |
U74140GJ2010PTC063382 |
RADIUS
MANAGEMENT SERVICES PRIVATE LIMITED |
Director |
24/12/2010 |
24/12/2010 |
Active |
NO |
|
6 |
U17110GJ2011PTC063945 |
RIMTEX
SPINNING PRIVATE LIMITED |
Director |
08/02/2011 |
08/02/2011 |
Active |
NO |
|
Name : |
Mr. Himanshubhai Girdharlal Parmar |
|
Designation : |
Director |
|
Address : |
Near Aradhana Society, S. V. P. Road, Surendranagar – 363001, Gujarat,
India |
|
Date of Birth/Age : |
02.10.1975 |
|
Date of Appointment : |
10.10.2003 |
|
DIN No.: |
00028946 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29199GJ1995PTC024986 |
KALPAR
ENGINEERS PRIVATE LIMITED |
Director |
13/03/1995 |
13/03/1995 |
Active |
NO |
|
2 |
U29113GJ2003PTC043043 |
RIMTEX
ENGINEERING PRIVATE LIMITED |
Director |
10/10/2003 |
10/10/2003 |
Active |
NO |
|
3 |
U01403GJ2008PTC054940 |
BENCHMARX
LOGISTIC SOLUTIONS PRIVATE LIMITED |
Director |
02/09/2008 |
02/09/2008 |
Active |
NO |
|
4 |
U29259GJ1979PTC003450 |
RITEX
ENGINEERING PRIVATE LIMITED |
Additional
director |
15/06/2009 |
15/06/2009 |
Active |
NO |
|
5 |
U74140GJ2010PTC063382 |
RADIUS
MANAGEMENT SERVICES PRIVATE LIMITED |
Director |
24/12/2010 |
24/12/2010 |
Active |
NO |
|
6 |
U17110GJ2011PTC063945 |
RIMTEX
SPINNING PRIVATE LIMITED |
Director |
08/02/2011 |
08/02/2011 |
Active |
NO |
|
Name : |
Mr. Kalpeshbhai Girdharlal Parmar |
|
Designation : |
Director |
|
Address : |
Near Aradhana Society, S. V. P. Road, Surendranagar – 363001, Gujarat,
India |
|
Date of Birth/Age : |
06.07.1967 |
|
Date of Appointment : |
10.10.2003 |
|
DIN No.: |
00028948 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29259GJ1979PTC003450 |
RITEX
ENGINEERING PRIVATE LIMITED |
Director |
30/09/1991 |
30/09/1991 |
Active |
NO |
|
2 |
U29199GJ1995PTC024986 |
KALPAR
ENGINEERS PRIVATE LIMITED |
Director |
31/01/1996 |
31/01/1996 |
Active |
NO |
|
3 |
U29113GJ2003PTC043043 |
RIMTEX
ENGINEERING PRIVATE LIMITED |
Director |
10/10/2003 |
10/10/2003 |
Active |
NO |
|
4 |
U01403GJ2008PTC054940 |
BENCHMARX
LOGISTIC SOLUTIONS PRIVATE LIMITED |
Director |
02/09/2008 |
02/09/2008 |
Active |
NO |
|
5 |
U74140GJ2010PTC063382 |
RADIUS
MANAGEMENT SERVICES PRIVATE LIMITED |
Director |
24/12/2010 |
24/12/2010 |
Active |
NO |
|
6 |
U17110GJ2011PTC063945 |
RIMTEX
SPINNING PRIVATE LIMITED |
Director |
08/02/2011 |
08/02/2011 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Girdharlal C. Parmar |
|
967250 |
|
Girdharlal C. Parmar (HUF) |
|
10000 |
|
Kokilaben G. Parmar |
|
642750 |
|
Kalpeshbhai Girdharlal Parmar |
|
795000 |
|
Kalpeshbhai Girdharlal Parmar (HUF) |
|
10000 |
|
Diptiben K. Parmar |
|
795000 |
|
Nishita K. Parmar |
|
10000 |
|
Yash K. Parmar |
|
10000 |
|
Himanshubhai Girdharlal Parmar |
|
1410000 |
|
Dipalben H. Parmar |
|
210000 |
|
Gauravbhai G. Parmar |
|
1620000 |
|
Kalpar Engineers Private Limited,
India |
|
990000 |
|
Pinaben N. Shah |
|
42500 |
|
Nirav D. Shah (HUF) |
|
32500 |
|
Smitaben D. Shah |
|
162500 |
|
Kinjal D. Shah |
|
22500 |
|
Nirav D. Shah |
|
10000 |
|
Rajesh Parikh |
|
389998 |
|
Bhairav R. Parikh |
|
150000 |
|
Urvi R. Parikh |
|
1 |
|
Thakorlal Parikh |
|
1 |
|
Manubhai C. Parmar |
|
250000 |
|
Nitaben M. Parmar |
|
10000 |
|
Parth M. Parmar |
|
10000 |
|
Total |
|
8550000 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
11.58 |
|
Directors or relatives of Directors |
78.95 |
|
Other top fifty shareholders |
9.47 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Spinning Cans, Spinning Rings, Spinning
Travelers, Trolley and Aluminum Basket. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Bank of Baroda, Jintan Road Branch,
Surendranagar, Surendranagar - 363001, Gujarat, India ·
HDFC Bank |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sanghvi Rajesh Kumar Bhogilal Chartered Accountant |
|
Address : |
Behind Natraj Cinema, Ashram Road, Ahmedabad, Gujarat, India |
|
PAN No.: |
ABIPS3447C |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,00,00,000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
85,50,000 |
Equity Shares |
Rs.10/- each |
Rs.85.500 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 |
85.500 |
85.500 |
85.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(48.192) |
(94.402) |
(123.355) |
|
|
NETWORTH |
37.308 |
(8.902) |
(37.855) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
142.783 |
175.715 |
140.094 |
|
|
2] Unsecured Loans |
58.183 |
60.173 |
83.338 |
|
|
TOTAL BORROWING |
200.966 |
235.888 |
223.432 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
238.274 |
226.986 |
185.577 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
149.027 |
160.515 |
175.826 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
4.727 |
6.826 |
6.367 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
105.382
|
72.345 |
21.717 |
|
|
Sundry Debtors |
20.087
|
16.026 |
35.286 |
|
|
Cash & Bank Balances |
2.472
|
1.505 |
5.726 |
|
|
Other Current Assets |
2.643
|
2.862 |
7.926 |
|
|
Loans & Advances |
3.818
|
5.577 |
2.474 |
|
Total
Current Assets |
134.402
|
98.315 |
73.129 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
32.956
|
35.718 |
69.767 |
|
|
Other Current Liabilities |
17.531
|
3.915 |
1.164 |
|
|
Provisions |
0.592
|
0.409 |
0.362 |
|
Total
Current Liabilities |
51.079
|
40.042 |
71.293 |
|
|
Net Current Assets |
83.323
|
58.273 |
1.836 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
1.197 |
1.372 |
1.548 |
|
|
|
|
|
|
|
|
TOTAL |
238.274 |
226.986 |
185.577 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
608.258 |
243.966 |
69.992 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
562.048 |
215.012 |
134.547 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
46.210 |
28.954 |
(64.555) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
46.210 |
28.954 |
(64.555) |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
5.40 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
7.60
|
11.87 |
(92.23) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.30
|
11.19 |
(25.93) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.24
|
(3.25) |
(1.71) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.76
|
(31.00) |
(7.79) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.63
|
2.46 |
1.03 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
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 |
No |
|
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 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 |
No |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U29113GJ2003PTC043043 |
|
Name of the company |
RIMTEX ENGINEERING PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
Plot No.2701, Phase Iv, GIDC, Wadhwan District, Surendra Nagar – 363035, Gujarat, India E-mail Id : info@rimtex.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
90110870 |
|
Type of charge |
Immovable property |
|
Particular of charge holder |
Bank of Baroda, Jintan Road Branch, Surendranagar, Surendranagar - 363001, Gujarat, India E-mail Id : ucmcosnr@yahoo.com |
|
Nature of instrument creating charge |
Instrument of memorandum of entry by deposit of title deeds |
|
Date of instrument Creating the charge |
27/03/2012 |
|
Amount secured by the charge |
Rs.248.800 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As mentioned in supplemental composite instrument of hypothecation of goods, book-debts, movable machinery and vehicles dated 23-03-2012 Terms of Repayment Cash credit facilities repayable on demand Term loans as per the norms of the bank Margin Term Loan II - 30 % On Land / Building and 25 % on Machinery Term Loan III - 30 % On Land / Building and 25 % on Machinery Term Loan IV - 30 % On Land / Building and 25 % on Machinery Extent and Operation of the charge The charge shall extend to secure advances of Rs. 247.800 Millions for various facilities granted to the Company as enunciated in the enclosed deed. The Charge to act as continuing security. |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
Immovable Properties As Described In Second Schedule, Fourth Schedule, Eighth Schedule, Twelfth Schedule, Fourteenth Schedule, Sixteenth Schedule Of Instrument Of Memorandum Of Entry By Deposit Of Title Deeds (Extension Of Mortgage By Constructive Deposit Of Title Deeds) Dt. 27-03-2012 |
|
Date of instrument modifying the charge |
23/03/2012 |
|
Particulars of the present modification |
The charge extends to secure increased credit facilities granted to the company to Rs. 247.800 Millions comprising of term loan (T. L.) II Rs. 51.800 Millions, T. L. III Rs. 55.700 Millions, fresh term loan Rs. 17.800 Millions, increased cash credit Rs. 120.000 Millions, inland / import L/C Rs. 2.500 Millions, aggregating Rs. 247.800 Millions. |
FIXED ASSETS:
·
Projector
·
Furniture
·
Land
·
Machinery
·
Electrical Fittings
·
Air Conditioner
·
Building
·
Computers
·
Water Coolers
·
Laboratory Instruments
·
Transformers
·
Vehicles
·
Mobile Instruments
·
Dies and Tools
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] 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.54.17 |
|
|
1 |
Rs.86.83 |
|
Euro |
1 |
Rs.69.85 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
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 |
1 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
1 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.