|
Report Date : |
17.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
KANADE ANAND UDYOG PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Kanade House, Plot No. 148, Inside
Sahar Cargo Estate, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
12.07.2005 |
|
|
|
|
Com. Reg. No.: |
154724 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.16.001
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100MH2005PTC154724 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK16826F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCk6061E |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business
: |
Manufacturer of Fabricators of Electroforged Floor Grafting, Cable
Trays, G I Structures, Earthing Materials, With own Galvanizing Plant. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 519408 |
|
|
|
|
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. The company can be considered 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.
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 : |
Kanade House, Plot No. 148, Inside Sahar Cargo Estate, D.P. Road, J.B. Nagar, Andheri (East), Mumbai 400 099, Maharashtra, India |
|
Tel. No.: |
91-22.28202841 / 42 / 43 / 44 |
|
Mobile No.: |
91- 9820315257 (Mr. Jayant
Kanade) |
|
Fax No.: |
91-22-2820 2839 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Delhi Office 3007-A, Sector - 55,
Housing Board Colony, Faridabad-121005, Haryana, India Hyderabad Office No. 26-31, Venkat Ram
Reddy Nagar Gandhi Nagar, Hyderabad-500 037, India Chennai Office No. 6/7, Avvai Street,
Ethiraj Nagar, west Mumbalam Chennai-600 033, Tamilnadu, India Email: ls.associates@yahoo.com |
|
|
|
|
Factory : |
E-45 / E-46 / E-47 / E-48, Anandnagar MIDC, Ambarnath (E),
Dist. Thane - 421 501, Maharashtra, India |
|
Tel. No.: |
91-0251 2620147 |
|
Fax No. |
91-0251 2620147 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Sunil Bhikaji Kanade |
|
Designation : |
Director |
|
Address : |
A-10, Sarvoday
Co. Op. Soc., Shivshristy, Kurla (East), Mumbai - 400 024, Maharashtra, India
|
|
Date of Birth/Age : |
03.08.1960 |
|
Date of Appointment : |
25.08.2007 |
|
DIN No.: |
00978343 |
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 |
Date of
cessation |
Company/ LLP
Status |
Defaulting
status |
|
1 |
U01110MH1993PTC071245
|
Kanade Aqua Farm
Pvt Ltd |
Director |
22/03/1993 |
22/03/1993 |
- |
Active |
NO |
|
2 |
U18101MH2004PTC071246
|
Kanade Granite Pvt
Ltd |
Director |
30/09/2004 |
30/09/2004 |
07/09/2012 |
Active |
NO |
|
3 |
U28100MH2004PLC150314
|
Koyna Power Limited
|
Director |
14/08/2006 |
14/08/2006 |
- |
Active |
NO |
|
4 |
U27100MH2005PTC154724
|
Kanade Anand Udyog
Private Limited |
Additional director
|
25/08/2007 |
25/08/2007 |
- |
Active |
NO |
|
Name : |
Mr. Dinanath Bhikaji Kanade |
|
Designation : |
Director |
|
Address : |
C/314, Lambo Darshan
Hsg. Soc., Koldongri Road, Andheri (East), Mumbai - 400 069, Maharashtra,
India |
|
Date of Birth/Age : |
22.01.1944 |
|
Date of Appointment : |
12.07.2005 |
|
DIN No.: |
00978387 |
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 |
Date of
cessation |
Company/ LLP
Status |
Defaulting
status |
|
1 |
U01110MH1993PTC071245
|
Kanade Aqua Farm
Pvt Ltd |
Director |
22/03/1993 |
22/03/1993 |
- |
Active |
NO |
|
2 |
U18101MH2004PTC071246
|
Kanade Granite Pvt
Ltd |
Director |
30/09/2004 |
30/09/2004 |
07/09/2012 |
Active |
NO |
|
3 |
U27100MH2005PTC154724
|
Kanade Anand Udyog
Private Limited |
Director |
12/07/2005 |
12/07/2005 |
- |
Active |
NO |
|
4 |
U28100MH2004PLC150314
|
Koyna Power Limited
|
Director |
14/08/2006 |
14/08/2006 |
- |
Active |
NO |
|
Name : |
Mr. Ashok Bhikaji Kanade |
|
Designation : |
Director |
|
Address : |
1/4, Poddar
Bldg. No.2, Dr. Maisheri Road, Mumbai 400 009, Maharashtra, India |
|
Date of Birth/Age : |
05.12.1951 |
|
Date of Appointment : |
12.07.2005 |
|
DIN No.: |
02490067 |
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 |
Date of
cessation |
Company/ LLP
Status |
Defaulting
status |
|
1 |
U28100MH2004PLC150314
|
Koyna Power Limited
|
Director |
30/12/2004 |
30/12/2004 |
- |
Active |
NO |
|
2 |
U27100MH2005PTC154724
|
Kanade Anand Udyog
Private Limited |
Director |
12/07/2005 |
12/07/2005 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Mr. Sunil Bhikaji Kanade |
596831 |
|
Mr. Dinanath Bhikaji Kanade |
746676 |
|
Mr. Ashok Bhikaji Kanade |
1600 |
|
Mrs. Rekha S Kanade |
6196 |
|
Mr. Anand D Kanade |
6196 |
|
Mrs. Prabha A Kamerkar |
8451 |
|
Mrs. Pratibha D Kanade |
4157 |
|
Reliance Electricals |
230000 |
|
Total |
1600107 |
LIST OF ALLOTTEES
AS ON 15.03.2012
|
|
No. of Shares |
|
Kanade Aqua Farm Private Limited, Mumbai, India |
33000 |
|
Alpha Graphics, Vadodara, India |
10000 |
|
Shubham Granites Limited, Baroda, India |
5000 |
|
Shyam Alcohol and Chemicals Limited, Mumbai, India |
7000 |
|
Total |
55000 |
AS ON 30.09.2011
|
Category |
Percentage |
|
Bodies corporate |
14.37 |
|
Directors or relatives of Directors |
85.63 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Fabricators of Electroforged Floor Grafting, Cable Trays,
G I Structures, Earthing Materials, With own Galvanizing Plant. |
|
|
|
|
Products : |
· Cable Tray · Serrated Grating · Grating with toe plate · Stair Tread with Chequrred plate nosing · Stair Tread with Carrier Plate · Electroforged gratings · Earthing strips · Earth electrodes · Transmission towers · Switchyard structures |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Indian Overseas Bank, Nariman Point Branch, Bakhtawar
Building, Nariman Point, Mumbai 400021, Maharashtra, India ·
Canara Bank |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
Rs. In Millions
Note: 1.Term Loan From
Bank (IOB)(2807000002)2 is secured against - Fixed assest(including plant and
machinery) 2.Term Loan From
Bank (IOB) is secured against - Plant and Machinary 3.Term Loan From
Bank (IOB/B) is secured against - Plant and Machinary 4.Term Loan From
Bank (Canara) is secured against - fixed asset and personal gurantee of
Directors. 5.Cash Credit
from Bank (IOB) is secured against - Factory Stock and Book Debts. 6.Cash Credit
from Bank (Canara) is secured against - Factory Stock 7.Cash Credit
from Bank ( OBC)-Secured against raw material,stock and receivables. 8. Term Loan
From Bank ( OBC )-Secured against fixed assets. 9.IDBI Bank Loan Secured agst.KGPL Property and Personal Gurantee of
Directors. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
V R Bhabhra and Company Chartered Accountant |
|
Address : |
E 201, Rajasthan Housing Society, Mararine Street, M G Road, Kandivali
(East), Mumbai 400054, Maharashtra, India |
|
|
|
|
Associates/Subsidiaries : |
· Kanade Granites Private Limited · Kanade Aqua Farm Private Limited · M/s Reliance Electricals ·
M/s K K Enterprises |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1600107 |
Equity Shares |
Rs.10/- each |
Rs.16.001
Millions |
|
|
|
|
|
|
|
Share Application Kanade Aqua Farm Private Limited |
|
Rs.15.257
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 |
16.001 |
16.001 |
15.201 |
|
|
2] Share Application Money |
15.257 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
98.594 |
76.305 |
49.569 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
129.852 |
92.306 |
64.770 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
491.869 |
419.582 |
392.233 |
|
|
2] Unsecured Loans |
1.736 |
2.080 |
2.481 |
|
|
TOTAL BORROWING |
493.605 |
421.662 |
394.714 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.743 |
|
|
|
|
|
|
|
|
TOTAL |
623.457 |
513.968 |
460.227 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
230.730 |
170.332 |
173.987 |
|
|
Capital work-in-progress |
0.000 |
2.024 |
9.531 |
|
|
|
|
|
|
|
|
INVESTMENT |
66.118 |
43.370 |
9.900 |
|
|
DEFERREX TAX ASSETS |
4.919 |
4.919 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
89.256
|
63.406 |
53.285 |
|
|
Sundry Debtors |
316.497
|
280.013 |
197.287 |
|
|
Cash & Bank Balances |
46.957
|
31.274 |
16.144 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
63.748
|
77.615 |
88.850 |
|
Total
Current Assets |
516.458
|
452.308 |
355.566 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
185.881
|
150.944 |
88.253 |
|
|
Other Current Liabilities |
2.574
|
1.747 |
0.576 |
|
|
Provisions |
6.350
|
6.350 |
0.000 |
|
Total
Current Liabilities |
194.805
|
159.041 |
88.829 |
|
|
Net Current Assets |
321.653
|
293.267 |
266.737 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.037 |
0.056 |
0.072 |
|
|
|
|
|
|
|
|
TOTAL |
623.457 |
513.968 |
460.227 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income and Other Income |
843.405 |
887.254 |
883.387 |
|
|
|
TOTAL (A) |
843.405 |
887.254 |
883.387 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
43.721 |
42.643 |
33.876 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
21.432 |
22.469 |
15.644 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
22.288 |
19.536 |
16.969 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
13.92 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.54
|
2.53 |
1.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.86
|
3.60 |
2.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.24 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.30
|
6.29 |
7.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.65
|
2.84 |
4.00 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
Registered office of the company has been shifted from B/12, Poddar Building No. 2, Dr. Maheshwari Road, Mumbai 400009, Maharashtra, India to the present address w.e.f. 28.09.2010
OPERATION:
The Company achieved a turnover of Rs.843.405 millions during the year under
report. The Company earned a Net Profit of Rs 22.288 millions during the year
under report.
|
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 |
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
involved in |
--- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
--- |
|
26] |
Buyer visit details |
No |
|
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] |
PAN of Proprietor/Partner/Director, if
available |
No |
|
32] |
Passport No 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 |
FORM 8
|
Corporate
identity number of the company |
U27100MH2005PTC154724 |
|
Name of the
company |
KANADE ANAND UDYOG PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Kanade House, Plot No. 148, Inside Sahar Cargo Estate, D.P. Road, J.B. Nagar, Andheri (East), Mumbai 400 099, Maharashtra , India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable property
(not being pledge) |
|
Particular of
charge holder |
Indian Overseas Bank, Nariman Point Branch, Bakhtawar Building, Nariman
Point, Mumbai 400021, Maharashtra, India Email: narimbr@mummsco.iobnet.co.in
|
|
Nature of
instrument creating charge |
Letter of
Hypothecation dated 07.03.2012. |
|
Date of
instrument Creating the charge |
07.03.2012 |
|
Amount secured by
the charge |
Rs. 40.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest LC : Commission
as per rates in force. Terms of repayment Repayable on
Demand. Margin 10%. Extent and operation of the charge The charge is to
operate as security, by way of first exclusive charge, for the due repayment
of the Letter of Credit (outside consortium for purchase of MS Flats)
facility of Rs.40.000 millions together with interests, additional interest,
costs, charges, expenses and all other moneys payable by the Company to the
Bank from time to time in terms of sanction. Other Facility : ----------- Letter of Credit
: Rs.40.000 millions (outside consortium
for purchase of MS Flats) |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
Stocks procured under LC. Documents of
title to goods, accepted hundies. |
FIXED ASSETS:
·
Air Conditioner
·
Computer
·
Factory
·
Fax Machine
·
Furniture and Fixtures
·
Land
·
Motor
·
Plant and Machinery
·
Printer
·
Refrigerator
·
Type Writer
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.54.73 |
|
|
1 |
Rs.88.61 |
|
Euro |
1 |
Rs.71.34 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
41 |
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.