MIRA
INFORM REPORT
|
Report Date : |
27.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
BRISK ELECTRO SALES PRIVATE LIMITED |
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Registered
Office : |
394-A, Lamington Chambers, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
28.06.1980 |
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Com. Reg. No.: |
11-022754 |
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Capital Investment
/ Paid-up Capital : |
Rs. 2.051 millions |
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CIN No.: [Company Identification
No.] |
U51900MH1980PTC022754 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Importer of Automation equipments and Electrical switchgear
products. |
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No. of Employees
: |
22 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 103000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a established company having satisfactory track record.
Trade relation are reported to be fair. Business is active. Payment are
reported to be usually correct and as per commitment. The company can be considered for business dealing 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
|
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.
INFORMATION PARTED BY
|
Name : |
Mr. Sunil Nichani |
|
Designation : |
Head in Accounts |
|
Contact No.: |
91-22-3871441 |
|
Date : |
26.09.2012 |
LOCATIONS
|
Registered Office : |
394 - A, Lamington Chambers, 2nd Floor, Lamington Road,
Grant Road (East), Mumbai – 400 004, Maharashtra, India |
|
Tel. No.: |
91-22-23871441 / 42 / 66343694 / 95 |
|
Fax No.: |
91-22-28801933 |
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E-Mail : |
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Website : |
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Area : |
5000 Sq. ft. |
|
Location : |
Owned |
DIRECTORS
As on 29.09.2011
|
Name : |
Mr. Mukesh Kantilal Parekh |
|
Designation : |
Chairman |
|
Address : |
Nirmal Bhuvan,
Bapubhai Vashi Marg, Vile-Parle (W), Mumbai – 400 056, Maharashtra, India |
|
Date of Birth/Age : |
01.08.1951 |
|
Date of Appointment : |
26.07.1997 |
|
DIN No.: |
00869265 |
|
Voter ID No.: |
MT/08/038/0408397 |
|
|
|
|
Name : |
Mr. Nayan Jaysukhlal Parekh |
|
Designation : |
Director |
|
Address : |
10, Kismat, 4th Floor, 63/C, Bhulabhai Desai Road, Mumbai – 400 026,
Maharashtra, India |
|
Date of Birth/Age : |
53 Years |
|
Date of Appointment : |
27.04.2001 |
|
DIN No.: |
00869232 |
|
Voter ID No.: |
MT/04/024/0240443 |
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|
|
|
Name : |
Mrs. Rasila Jaysuklal Parekh |
|
Designation : |
Chairman |
|
Address : |
10, Kismat, 4th Floor, 63/C, Bhulabhai Desai Road, Mumbai – 400 026,
Maharashtra, India |
|
Date of Birth/Age : |
08.12.1928 |
|
Date of Appointment : |
17.09.1996 |
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DIN No.: |
00869245 |
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Voter ID No.: |
MT/04/024/0240439 |
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|
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Name : |
Mrs. Meena Mukesh Parekh |
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Designation : |
Director |
|
Address : |
Nirmal Bhuvan,
Bapubhai Vashi Marg, Vile-Parle (W), Mumbai – 400 056, Maharashtra, India |
|
Date of Birth/Age : |
28.05.1955 |
|
Date of Appointment : |
20.04.1981 |
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DIN No.: |
01912488 |
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Voter ID No.: |
MT/08/038/0408398 |
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|
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KEY EXECUTIVES
|
Name : |
Mr. Sunil Nichani |
|
Designation : |
Head in Accounts |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2011
|
Names of Shareholders |
|
No. of Shares |
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|
|
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Madhulata Parekh and Nayan Parekh |
|
25 |
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J. T. Parekh and Rasilaben J. Parekh |
|
926 |
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Rasila J. Parekh and J. T. Parekh |
|
1245 |
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Manglaben T. Parekh and Madhulata T. Parekh |
|
675 |
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Mukesh parekh and M.M. Parekh |
|
3148 |
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Meena M. Parekh and m. K. Parekh |
|
3975 |
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Nayan Parekh and Rupal N. Parekh |
|
4541 |
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Rupal Parekh and Nayan J. Parekh |
|
1005 |
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Mukesh K. Parekh HUF and Meena M. Parekh |
|
1129 |
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Jaysukhlal T. Parekh HUF and Rasilaben J. Parekh |
|
580 |
|
Mihir M. Parekh and Mukesh K. Parekh |
|
1000 |
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Kumar M. Parekh and Mukesh K. Parekh |
|
1005 |
|
Udit N. Parekh and Nayan J. Parekh |
|
5 |
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Nayan J. Parekh HUF |
|
1245 |
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Rachit N. Parekh and Nayan J. Parekh |
|
10 |
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TOTAL |
|
20514 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Automation equipments and Electrical switchgear
products. |
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Products : |
·
Passive Modules ·
Electromechanical Modules ·
S S R Modules ·
P L C Modules ·
C N C Modules ·
Conditioning Modules ·
Convertors ·
Power Supplies |
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Exports : |
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Products : |
·
Automation equipments ·
Electrical switchgear products |
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Countries : |
·
Europe ·
China ·
US ·
UK |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
|
Customers : |
End Users ·
ABB Limited ·
Bajaj Auto Limited ·
Bharart Heavy Electricals Limited (Government of
India Undertaking) ·
Electronic Corporation of India
Limited.(Government of India Undertaking) ·
GE Elpro Limited ·
Gujarat Narmada Valley fertilisers Limited(Govt.
of Gujarat Undertaking) ·
Instrumentation Limited ·
Kirloskar Electric Limited ·
Larsen and Toubro Limited ·
Otis Elevators Limited ·
Siemens Limited ·
Tata Honeywell Limited ·
Emerson Network India Private Limited ·
Tata Engineering and Locomotive Engineering
Company Private Limited ·
Thermax |
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No. of Employees : |
22 (Approximately) |
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Bankers : |
·
ICICI Bank, Nariman Point |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Vasant Agre and Associates Chartered Accountants |
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Address : |
B/11/2, Sai Prasad Apartments, Telly Gully Cross Lane, Andheri (East),
Mumbai – 400 069, Maharashtra, India |
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PAN No.: |
AADAP4845N |
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Associates/Subsidiaries : |
·
Rapid Computer
Services and Spares Limited Address: 394 - A,
Lamington Chambers, 2nd Floor, Lamington Road, Grant Road
(East), Mumbai – 400 004, Maharashtra, India Line of Business: Marketing of Computer System ·
Parekh
Associates Address: 394 - A,
Lamington Chambers, 2nd Floor, Lamington Road, Grant Road (East),
Mumbai – 400 004, Maharashtra, India
Line of Business: Trader of Industrial Electronic Components. ·
Basic Automation ·
Brisk Elelectronics Private Limited, India ·
Brisk Electro Component Private Limited, India |
CAPITAL STRUCTURE
As on 29.09.2011
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000 |
Equity Shares |
Rs. 100/- each |
Rs. 3.000 millions |
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Issued, Subscribed and Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20514 |
Equity Shares |
Rs. 100/- each |
Rs. 2.051
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.051 |
2.051 |
2.051 |
|
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves and Surplus |
23.892 |
20.574 |
17.404 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
25.943 |
22.625 |
19.455 |
|
|
LOAN FUNDS |
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|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
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2] Unsecured Loans |
33.425 |
23.455 |
23.385 |
|
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TOTAL BORROWING |
33.425 |
23.455 |
23.385 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
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TOTAL |
59.368 |
46.080 |
42.840 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.847 |
4.495 |
2.695 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.040 |
0.040 |
0.000 |
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DEFERREX TAX ASSETS |
0.262 |
0.174 |
0.154 |
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CURRENT ASSETS, LOANS and ADVANCES |
|
|
|
|
|
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Inventories |
47.850
|
10.100 |
9.847 |
|
|
Sundry Debtors |
40.095
|
43.585 |
37.952 |
|
|
Cash and Bank Balances |
3.191
|
6.619 |
11.603 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans and Advances |
2.075
|
1.612 |
4.348 |
|
Total
Current Assets |
93.211
|
61.916 |
63.750 |
|
|
Less : CURRENT
LIABILITIES and PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
29.845
|
14.394 |
17.225 |
|
|
Other Current Liabilities |
10.079
|
6.047 |
3.884 |
|
|
Provisions |
0.068
|
0.104 |
2.650 |
|
Total
Current Liabilities |
39.992
|
20.545 |
23.759 |
|
|
Net Current Assets |
53.219
|
41.371 |
39.991 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
59.368 |
46.080 |
42.840 |
|
PROFIT and LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
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SALES |
|
|
|
|
|
|
|
Income |
200.307 |
174.970 |
|
|
|
|
Other Income |
0.219 |
1.820 |
|
|
|
|
TOTAL (A) |
200.526 |
176.790 |
158.559 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock - in - trade |
210.771 |
154.265 |
|
|
|
|
Changes in inventories of financial goods, work-in-progress and
Stock-in-trade |
(37.749) |
(0.254) |
|
|
|
|
Employee benefits expenses |
5.813 |
4.562 |
|
|
|
|
Other expenses |
11.247 |
9.220 |
|
|
|
|
TOTAL (B) |
190.082 |
167.793 |
150.158 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10.444 |
8.997 |
8.401 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.228 |
3.569 |
3.523 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.216 |
5.428 |
4.878 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.396 |
0.811 |
0.833 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4.820 |
4.617 |
4.045 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
1.503 |
1.447 |
1.231 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
3.317 |
3.170 |
2.814 |
|
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
20.436 |
17.266 |
14.452 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
23.753 |
20.436 |
17.266 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
161.70 |
154.53 |
137.19 |
|
Expected Sales (
2012-13 ) : Rs. 220.000 millions
The above information
has been parted by Mr. Sunil Nichani.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.65
|
1.79 |
1.77 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.40
|
2.63 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.86
|
6.95 |
6.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.20 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.83
|
1.94 |
2.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.33
|
3.01 |
2.68 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Creditors |
29.845
|
14.394 |
17.225 |
|
|
|
|
|
|
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
Yes |
|
34] |
External Agency Rating,
if available |
No |
TRADE REFERENCES:
·
ABB LIMITED
FIXED ASSETS:
·
Furniture and Fixtures
·
Office Equipments
·
Air Conditioners
·
Vehicles
·
Computers
·
Typewriter
·
Electrical Installations
·
Office Premises
Renovation
CMT REPORT (Corruption, Money Laundering and 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.53.58 |
|
|
1 |
Rs.86.60 |
|
Euro |
1 |
Rs.68.94 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
NID |
SCORE and 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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
|
43 |
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 and 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.