MIRA
INFORM REPORT
|
Report Date : |
17.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
MIDDAY INFOMEDIA LIMITED |
|
|
|
|
Registered
Office : |
Peninsula Centre, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
16.01.2008 |
|
|
|
|
Com. Reg. No.: |
11-177808 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.188.615
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22130MH2008PLC177808 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM33902B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCM4778H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Subject is engaged in the business of Printing and
Publishing of any Newspapers, Journals, Magazines, Books etc. |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1300000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is a 100% subsidiary of Jagran Prakashn Limited. It is a well established
and reputed company having satisfactory track. It will maintain its stable credit risk profile, backed by the
business and financial support of its parent and the brand strength of its
dailies. There appears some dip in the profits during 2011. However, trade
relations are reported as decent. Business is active. Payments are reported
to be usually correct and as per commitments. 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.
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 |
CRISIL |
|
Rating |
Long term Rating = AA |
|
Rating Explanation |
High degree of safety and very low credit risk. |
|
Date |
08.08.2012 |
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 DECLINED BY
|
Name : |
Mr. Nilpesh |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-67017171 |
|
Date : |
15.09.2012 |
LOCATIONS
|
Registered Office : |
Peninsula Centre, |
|
Tel. No.: |
91-22-67017171 |
|
Fax No.: |
91-22-24141919 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Press : |
Plot No. R-847/3, T.T.C. Industrial Area, Rabale, Navi Mumbai. |
|
|
|
|
Branch Office : |
Located At · Delhi · Bangalore · Pune ·
Goa · Chennai |
DIRECTORS
As on 10.07.2012
|
Name : |
Mr. Manajit Ranjit Ghoshal |
|
Designation : |
Director |
|
Address : |
3/37, Sector 6, RCF Colony, Vashi, Navi Mumbai – 400703, |
|
Date of Birth/Age : |
02.01.1970 |
|
Date of Appointment : |
01.08.2009 |
|
DIN No.: |
00045958 |
|
|
|
|
Name : |
Mr. Tarique Khalid Ansari |
|
Designation : |
Director |
|
Address : |
103/A, Cumballa Crest, |
|
Date of Birth/Age : |
11.06.1961 |
|
Date of Appointment : |
16.01.2008 |
|
DIN No.: |
00101820 |
|
|
|
|
Name : |
Mr. Shailesh Mahendra Mohan Gupta |
|
Designation : |
Director |
|
Address : |
Puran Niwas, 7/51, Tilak Nagar, |
|
Date of Birth/Age : |
07.04.1969 |
|
Date of Appointment : |
31.03.2011 |
|
DIN No.: |
00192466 |
|
|
|
|
Name : |
Mr. Naresh Mohan Goverdhan Nath Mohan |
|
Designation : |
Director |
|
Address : |
C-2/102, Janakpuri, New Delhi - 110 058, India |
|
Date of Birth/Age : |
01.01.1942 |
|
Date of Appointment : |
31.03.2011 |
|
DIN No.: |
00459854 |
|
|
|
|
Name : |
Mr. Sanjay Narendra Mohan Gupta |
|
Designation : |
Director |
|
Address : |
C-26, Friends Colony, East New Delhi - 110 065, India |
|
Date of Birth/Age : |
20.12.1962 |
|
Date of Appointment : |
31.03.2011 |
|
DIN No.: |
00028734 |
|
|
|
|
Name : |
Mr. Amit Mahendra Kumar Dixit |
|
Designation : |
Director |
|
Address : |
Thakur Nivas, Flat No. 21, 173 Jamshedji Tata Road,Churchgate, Mumbai – 400 020, Maharashtra, India |
|
Date of Birth/Age : |
26.01.1973 |
|
Date of Appointment : |
31.03.2011 |
|
DIN No.: |
01798942 |
KEY EXECUTIVES
|
Name : |
Mr. Nilpesh |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 10.07.2012
|
Names of Equity Shareholders |
|
No. of Shares |
|
Manajit Ranajit Ghoshal |
|
1 |
|
Vidya Raghunath Shambekar |
|
1 |
|
Jagran Prakashan Limited, India |
|
8861494 |
|
Sanjay Narendra Mohan Gupta |
|
1 |
|
Shailesh Mahendra Mohan Gupta |
|
1 |
|
R.K. Sawan Ram Agarwal |
|
1 |
|
Rajeshri Jaywant Bolaikar |
|
1 |
|
Ferari Investments and Trading Company Private Limited, |
|
350805 |
|
Total |
|
9212305 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
Jagran Prakashan Limited, |
|
10000000 |
|
Total |
|
10000000 |
As on 10.07.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Printing and
Publishing of any Newspapers, Journals, Magazines, Books etc. |
||||
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||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Installed
Capacity |
Actual
Production |
|
Newspaper |
0.80 |
744.24 |
NOTES:
a) Actual
production of newspaper includes 7.370 millions (Previous year: Rs.7.794
millions) copies for the distribution, advertisement promotion, voucher files
and unsold copies.
b) The Company does not have opening and closing of finished goods,
hence disclosures relating thereto are not applicable.
c) Turnover with
respect to Advertisements comprises revenue from selling of advertising space.
The sale of such advertisement space cannot be expressed in any generic unit;
hence it is not possible to give the quantitative details of turnover.
d) Turnover with
respect to other Operating Activities comprises revenue from Job Work, and
Content Syndication which cannot be expressed in terms of quantity; hence it is
not possible to give quantitative details
e) Previous year figures are in brackets.
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
· Central Bank of India, Industrial Finance Branch, Nariman Point, Mumbai - 400021, Maharashtra, India ·
Bank of Baroda, Tardeo Branch, Everest Building, 156-D,
J. Dadajee Road, Tardeo, Mumbai-400034, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
|
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|
Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountant |
|
Address : |
Building 8, 7th and 8th floor, Tower B, DLF Cyber City, Gurgaon, Haryana, India |
|
PAN.: |
AAEFP3641G |
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|
|
Holding Company : |
Jagran Prakashan Limited |
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Associate Company : |
|
CAPITAL STRUCTURE
As On : 10.07.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs. 10/- each |
Rs.100.000 millions |
|
10000000 |
Preference Shares |
Rs. 10/- each |
Rs. 100.000 millions |
|
|
|
|
|
|
|
Total |
|
Rs.200.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9212305 |
Equity Shares |
Rs. 10/- each |
Rs.92.123
millions |
|
10000000 |
Preference Shares |
Rs. 10/- each |
Rs. 100.000
millions |
|
|
|
|
|
|
|
Total |
|
Rs.192.123 Millions |
As on : 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs. 10/- each |
Rs.100.000 millions |
|
10000000 |
Preference Shares |
Rs. 10/- each |
Rs. 100.000 millions |
|
|
|
|
|
|
|
Total |
|
Rs.200.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8861500 |
Equity Shares |
Rs. 10/- each |
Rs.88.615
millions |
|
10000000 |
Preference Shares |
Rs. 10/- each |
Rs.100.000
millions |
|
|
|
|
|
|
|
Total |
|
Rs. 188.615 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 |
188.615 |
88.615 |
88.615 |
|
|
2] Share Application Money |
153.493 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
(17.099) |
(110.489) |
|
|
NETWORTH |
342.108 |
71.516 |
(21.874) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
125.271 |
127.366 |
224.944 |
|
|
2] Unsecured Loans |
0.000 |
105.746 |
126.620 |
|
|
TOTAL BORROWING |
125.271 |
233.112 |
351.564 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
467.379 |
304.628 |
329.690 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
289.050 |
394.507 |
410.112 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
42.616 |
22.753 |
20.000 |
|
|
DEFERREX TAX ASSETS |
10.778 |
6.066 |
55.259 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
72.582
|
28.526 |
52.770 |
|
|
Sundry Debtors |
191.757
|
182.326 |
154.253 |
|
|
Cash & Bank Balances |
3.558
|
11.314 |
33.167 |
|
|
Other Current Assets |
24.986
|
44.905 |
0.000 |
|
|
Loans & Advances |
41.638
|
27.767 |
82.485 |
|
Total
Current Assets |
334.521
|
294.838 |
322.675 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
152.457
|
315.430 |
106.804 |
|
|
Other Current Liabilities |
29.800
|
49.223 |
341.353 |
|
|
Provisions |
27.329
|
29.969 |
30.196 |
|
Total
Current Liabilities |
209.586
|
394.622 |
478.355 |
|
|
Net Current Assets |
124.935
|
(115.945) |
(155.680) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
467.379 |
304.628 |
329.690 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1065.201 |
989.912 |
727.478 |
|
|
|
Other Income |
23.840 |
13.492 |
(2.682) |
|
|
|
TOTAL (A) |
1089.041 |
1003.404 |
724.796 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing and other operating Expenses |
278.522 |
226.171 |
|
|
|
|
Manufacturing Service Cost |
75.497 |
68.714 |
|
|
|
|
Employee related expenses |
296.821 |
267.541 |
839.399 |
|
|
|
Administrative selling other expenses |
268.548 |
234.468 |
|
|
|
|
Prior period item |
22.817 |
0.000 |
|
|
|
|
TOTAL (B) |
942.205 |
796.894 |
839.399 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
146.836 |
208.510 |
(114.603) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
19.307 |
36.399 |
27.617 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
127.529 |
170.111 |
(142.220) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
90.330 |
26.547 |
20.758 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
37.199 |
143.564 |
(162.978) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
16.607 |
50.174 |
(52.490) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
20.592 |
93.390 |
(110.489) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(17.099) |
(110.489) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE / (LOSS)
CARRIED TO THE B/S |
3.493 |
(17.099) |
(110.489) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
CIF Value Of Import |
252.147 |
160.968 |
296.756 |
|
|
TOTAL IMPORTS |
252.147 |
160.968 |
296.756 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.32 |
10.54 |
(26.15) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.89
|
9.71 |
(15.24) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.49
|
15.13 |
(22.40) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.96
|
21.14 |
(20.68) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
2.01 |
7.45 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.97
|
8.77 |
5.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.59
|
0.71 |
0.67 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Creditors due small micro enterprises |
0.140 |
0.248 |
0.379 |
|
Creditors due others |
152.317 |
315.182 |
106.425 |
|
Total |
152.457 |
315.430 |
106.804 |
|
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
---------------------- |
|
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 |
FINANCIAL
HIGHLIGHTS:
During the current
financial year scheme of arrangements between the company and Jagran Prakash
Limited has been approved and became effective from April 1, 2010. As a result
company has become 100% subsidiary of Jagran Prakashn Limited. Financials of
the company will be consolidated with Holding company Jagran Prakashan Limited
for the first time. Financial statement of the company has incorporated number
of one-off adjustments to bring the policies and accounting practices in line
with the holding company. The most material adjustment is on account of change
in depreciation method with retrospective effect from Straight Line Method
(SLM) to Written Down Value Method (WDV) and change in estimate for providing
depreciation on some assets and this has resulted in providing extra
depreciation of Rs 75.000 millions. All such one of adjustments resulted in
reduction of our PBT from Rs. 141.400 millions to Rs. 37.200 millions.
During the year
ended March 2011 Company recorded a profit before taxes of Rs 37.200 millions
against Rs. 143.600 millions in the previous year ended March, 2010. Net Profit
after tax of the company is Rs 20.600 millions against Rs. 93.400 millions in
the previous year.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U22130MH2008PLC177808 |
|
Name of the
company |
MIDDAY INFOMEDIA
LIMITED |
|
Address of the
registered office or of the principal place of business in |
Peninsula Centre,
Dr. S.S. Rao Road, Opposite Mahatma Gandhi, Hospital, Parel (East),
Mumbai-400012, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
· Book debts · Movable property (not being pledge) ·
Others (Stocks of Raw Material, Consumable
Stores, Spares) |
|
Particular of
charge holder |
Central Bank of India, Industrial Finance Branch, Nariman Point, Mumbai - 400021, Maharashtra, India |
|
Nature of
instrument creating charge |
As per
hypothecation deed dated 10 April 2012. |
|
Date of
instrument Creating the charge |
10.04.2012 |
|
Amount secured by
the charge |
Rs.200.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per bank
guidelines Terms of Repayment Sanctioned credit
facilities will be reviewd every year. Margin 25% on stocks and
40 % on book debts. Extent and Operation of the charge Hypothecation of
stocks, book debts of the company to cover the working capital limit of Rs.
200.000 Millions sanctioned to the company by Central Bank of India,
Industrial Finance Branch, Nariman Point, Mumbai 400021 as per hypothecation
deed dated April 10, 2012. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of
stocks, book debts of the company as per hypothecation deed dated April 10,
2012. |
FIXED ASSETS:
·
Leasehold Land
·
Plant and Machinery
·
Factory Premises
·
Photographic Equipments
·
Air Conditioners
·
Office Equipments
·
Furniture and Fixtures
·
Vehicles
·
Fire Fighting Systems
·
Computers
·
Capital work in progress
·
Electrical Installation
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
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
53 |
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.