MIRA
INFORM REPORT
|
Report Date : |
02.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
MONARCH SELF ADHESIVE TAPES AND FOAMS (INDIA) PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
MONARCH SELF ADHESIVE TAPES (INDIA) PRIVATE LIMITED |
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|
Registered
Office : |
No.302, V. P. Road, Jalahalli, Bangalore – 560013, Karnataka |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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|
Date of
Incorporation : |
02.12.1993 |
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Com. Reg. No.: |
08-14990 |
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Capital
Investment / Paid-up Capital : |
Rs.26.900 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26102KA1993PTC014990 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRM01564D |
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|
Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturing and Sale of Self-Adhesive Tapes and Foams |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 224892 |
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|
|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record.
There appears some dip in the sales turnover and profits during 2012 due to
fine losses. However, trade relations are reported as decent. Business is
active. Payments are reported to be slow but 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/ Marketing Office : |
No.302, V. P. Road, Jalahalli, Bangalore – 560013, Karnataka, India |
|
Tel. No.: |
91-80-28389412/ 13/ 28380292/ 1196/ 1368 |
|
Fax No.: |
91-80-28381060 |
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E-Mail : |
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|
Website : |
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|
Factory I : |
Main Plant No. 302, V. P. Road, Jalahalli, Bangalore – 560013, Karnataka, India |
|
Tel. No.: |
91-80-28381196/28380292 |
|
E-Mail : |
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|
|
|
|
Factory II : |
Polyurethane Foam Manufacturing Plant, Polyethylene Cross Link Foam
Manufacturing Plant and Stores Sy. No. 12/1B, Laxmipura Road, Abbigere Village, Bangalore
– 560090, Karnataka, India |
|
Tel. No.: |
91-80 – 23253748 |
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E-Mail : |
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Branch Office : |
Located at: · Mumbai · Delhi · Pune · Chennai · Hyderabad |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Prabhakara Narsingsa Matrani |
|
Designation : |
Managing Director |
|
Address : |
No.13, 1st Floor, 16th Cross, 8th Main, Bandappa Garden,
Muthyalanagar, Bangalore – 560054, Karnataka, India |
|
Date of Birth/Age : |
01.01.1934 |
|
Date of Appointment : |
02.12.1993 |
|
DIN No.: |
01856581 |
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 |
U26102KA1993PTC014990
|
MONARCH SELF
ADHESIVE TAPES AND FOAMS (INDIA) PRIVATE LIMITED |
Managing
director |
02/12/1993 |
02/12/1993 |
- |
Active |
NO |
|
Name : |
Mrs. Padma Hanumappa |
|
Designation : |
Director |
|
Address : |
No. 1,
Chamundeswri Layout, Doddabommasanda, Bangalore – 560097, Karnataka, India |
|
Date of Birth/Age : |
01.04.1959 |
|
Date of Appointment : |
02.12.1993 |
|
DIN No.: |
01856643 |
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 |
U26102KA1993PTC014990
|
MONARCH SELF
ADHESIVE TAPES AND FOAMS (INDIA) PRIVATE LIMITED |
Director |
02/12/1993 |
02/12/1993 |
- |
Active |
NO |
|
Name : |
Mr. Suresh Reddy |
|
Designation : |
Director |
|
Address : |
No 911, B1, 1st Main Road, Bahubalinagar, Bangalore – 560013,
Karnataka, India |
|
Date of Birth/Age : |
05.10.1959 |
|
Date of Appointment : |
03.12.2004 |
|
DIN No.: |
02661585 |
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 |
U26102KA1993PTC014990
|
MONARCH SELF
ADHESIVE TAPES AND FOAMS (INDIA) PRIVATE LIMITED |
Director |
03/12/2004 |
03/12/2004 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Name |
No of shares |
|
Prabhakar
N Metrani |
9900 |
|
ANANTH
CORPORATION |
1 |
|
SANGITA
JADWANI |
1 |
|
G.
P. AHUJA |
1 |
|
Prabhakar
N Metrani |
22000 |
|
Padma
Hanumappa |
16000 |
|
Sudhakar
Kaup |
5000 |
|
Prabhakar
N Metrani |
90 |
|
Padma
Hanumappa |
10 |
|
Prabhakar
N Metrani |
5400 |
|
Padma
Hanumappa |
600 |
|
Suresh
Reddy |
3000 |
|
Prabhakar
N Metrani |
3000 |
|
Rohit
Metrani |
9987 |
|
Padma
Hanumappa |
3000 |
|
Sudhakar
Kaup |
3000 |
|
Suresh
Reddy |
7000 |
|
KAILASH
& COMPANY |
1 |
|
MAHESH
R AHUJA HUF |
1 |
|
RAINA
BHATIA |
1 |
|
MANOHARLAL
KISHINDAS |
1 |
|
OM
SAI ASSOCIATES |
1 |
|
BATHIJA
SANJAY |
1 |
|
Prabhakar
N Metrani |
2500 |
|
Prabhakar
N Metrani |
30420 |
|
Padma
Hanumappa |
3380 |
|
Prabhakar
N Metrani |
42694 |
|
Suresh
Reddy |
5000 |
|
Prabhakar
N Metrani |
23000 |
|
Sudhakar
Kaup |
2000 |
|
Padma
Hanumappa |
5000 |
|
Prabhakar
N Metrani |
9990 |
|
Padma
Hanumappa |
10 |
|
Manoharlal
Company |
1 |
|
J.
Maya |
1 |
|
H.J.
Enterprises |
1 |
|
Sri
Totlani Enterprises |
1 |
|
Bharatsatram |
1 |
|
Sanjay
Kumar Mohanlal Huf |
1 |
|
Kripa
S Bathija |
1 |
|
Aarti
D Bathija |
1 |
|
Madhu
Motiram |
1 |
|
Neelkanth
R Talraja |
1 |
|
Padma
Hanumappa |
22000 |
|
Suresh
Reddy |
10000 |
|
Sudhakar
Kapu |
15000 |
|
Narendra
Lalwani |
5000 |
|
Chandra
Prakash Lalwani |
5000 |
|
Total |
269000 |
AS ON 29.09.2012
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufactures and Supplies a range of Self-Adhesive Tapes in Rolls and
Sheets. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
IDBI Bank Limited, IDBI House, F C Road, Dnyaneshwar
Paduka Chowk, Shivajinagar,, Pune - 411004, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
· Cholamandalam Investment and Finance Company Limited Dare House, No. 2 N S C Bose Road, Parrys, Chennai – 600001,
Tamilnadu, India |
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Auditors : |
|
|
Name : |
Mohan and Sridhar Chartered Accountant |
|
Address : |
# 27, Sri Bilaya, II Floor, 10th Cross, Margosda Road, Malleswaram,
Bangalore – 560003, Karnataka, India |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Share |
Rs.100/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
269000 |
Equity Share |
Rs.100/- each |
Rs.26.900 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
26.900 |
22.200 |
20.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
29.323 |
26.945 |
18.939 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
56.223 |
49.145 |
38.939 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
55.720 |
51.958 |
49.729 |
|
|
2] Unsecured Loans |
20.359 |
13.197 |
13.244 |
|
|
TOTAL BORROWING |
76.079 |
65.155 |
62.973 |
|
|
DEFERRED TAX LIABILITIES |
1.894 |
2.265 |
1.976 |
|
|
|
|
|
|
|
|
TOTAL |
134.196 |
116.565 |
103.888 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
33.742 |
31.640 |
28.248 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
61.232
|
46.844
|
38.852
|
|
|
Sundry Debtors |
55.576
|
65.397
|
60.919
|
|
|
Cash & Bank Balances |
4.112
|
4.784
|
3.658
|
|
|
Other Current Assets |
20.319
|
0.040
|
0.016
|
|
|
Loans & Advances |
22.831
|
25.632
|
24.458
|
|
Total
Current Assets |
164.070
|
142.697
|
127.903
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
52.340
|
40.674
|
32.393
|
|
|
Other Current Liabilities |
4.204
|
7.355
|
10.738
|
|
|
Provisions |
7.072
|
9.743
|
9.132
|
|
Total
Current Liabilities |
63.616
|
57.772
|
52.263
|
|
|
Net Current Assets |
100.454
|
84.925
|
75.640
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
134.196 |
116.565 |
103.888 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
217.911 |
|
|
|
Other Income |
|
|
2.486 |
|
|
|
TOTAL |
264.029 |
269.835 |
220.397 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
210.251 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
7.266 |
15.636 |
10.146 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.814 |
3.374 |
3.206 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
3.452 |
12.261 |
6.940 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.073 |
4.256 |
2.231 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.379 |
8.005 |
4.709 |
|
%20PRIVATE%20LIMITED%20-%20215222%2002-Apr-2013_files/image001.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20215222%2002-Apr-2013_files/image002.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.90
|
2.97
|
2.14
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
3.18
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.75
|
7.03
|
4.44
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.25
|
0.18
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.35
|
1.33
|
1.62
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.58
|
2.48
|
2.45
|
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 |
No |
|
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 |
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] |
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 |
NOTE:
The Registered Office of the company has been shifted from #16, 1st
Floor, SNS Chambers, 239, Sankey Road, Sadashivnagar, Bangalore – 560080,
Karnataka, India , to the present address w.e.f. 17.04.2006.
COMPANY'S
BUSINESS PERFORMANCE
The
Company has achieved Gross turnover of Rs.300.553 Millions for the year 2012 as against 304.546 Millions for the previous year which shows a decrease
in Sales by 1.31%. Despite of Fire losses and financial difficulties and
constraints, the company was able to achieve and match previous year sales.
The
company is happy to inform you that though there is a slight decrease in Sales,
the Company has earned a Gross profit of Rs.7.266 Millions as against Rs.15.635 Millions during the previous year and net profit
earned Rs.2.378 Millions as against Rs.8.005 Millions during the previous year. The decrease in
profit is due to down fall in sales, huge expenses incurred on Pune Factory to
reconstruct the Building and restart the production. Also on account of
Transportation charges incurred heavily due to transfer of the stock from
Bangalore to Pune Customers, This year they could not achieve their estimated
sales turnover of Rs.400.000 Millions, due to major fire accident in one of
their manufacturing unit at PUNE on 25.06.2011.
FIRE
ACCIDENT TO PUNE FACTORY
The
company witnessed an unfortunate fire incident at the factory premises of Pune
unit on 251h June, 2011. There was a devastating fire breakout that
engulfed the entire factory premises including Plant and Machinery, Stock of
Raw Materials and Finished products and caused severe damage to the Land and
Building. The company has taken up the matter with United Insurance Company,
However all the properties stocks, machineries and building were fully insured.
The loss is nearly covered by Insurance and the net loss after claim in not
going to be significant. The Insurance Company has appointed the surveyors and
the Insurance claim is in the final stage of being settled.
During
the period of Fire, materials were supplied from Bangalore to Pune which
increased the transportation and other incidental expenses, thus resulting in
financial loss.
Due
to Fire accident, The Company could not achieve the projected sales, affecting
their financial ratios for the accounting period. The sales turnover is
affected from the date of accident 25th June 2011.
The
company have reconstructed the Building, replaced and repaired the machineries
and procured Inventories and have started operations within three months period
at Pune unit. Despite of the Fire losses the company was able to maintain the
same relationship with all the customers, by supplying material from Bangalore.
SALES
ACHIEVEMENT AND PROGRESS
The
company is confident of achieving Rs.400.000 Millions during the next financial
years.
Chennai
unit is already in the process of expansion and anticipating more and more
orders by adding more number of customers like Nisan, Ashok Leyland, Mahindra
and expansion of Ford, Hyundai.
FUTURE
PLAN OF THE COMPANY
In
1993, the company was the first to introduce Polyurethane and Polyethylene
cross linked foam for industrial application and first to introduce frost
refrigerators and since then they realized the future of foam based products in
Industrial application and also growing now, by leaps and bound.
The
company basically manufactures different kinds of Foams, such as Polyurethane,
Polyethylene cross iinked and PVC/NBR foams under one roof. Cellular foams,
such as Polyethylene cross linked, PVC/NBR and Nitrile foams, which are
presently imported from other countries, are being developed by them using
technology and Infrastructural facilities available with the company
The
company is the first to manufacture and introduce Polyurethane acoustic foam
substitute to rock wool in D.G. Set in India and they are still leading in this
segment, Future growth is perennial for the coming years, due to power shortage
throughout India.
Their
major segment of sales is foam base, with or without
adhesive as per drawing and International specification connected to Automobile
and D.G. set and will continue to offer developed and quality products in
coming days.
Though,
the impact of economic recession in the country is so strong that the company
sustained the production and showed a steady growth in terms of volume and
sales. The company was able to achieve this due to introduction of vide range
of new products and will continue to introduce new products as per the
requirement of the customers.
Chennai
Factory: The Company has taken up a
new Ground floor office at the Chennai office measuring 2200 Sq. ft. to meet
the growth of automobile industry in Chennai. This floor is fully equipped with
testing facilities and conform ISO Standard.
FIXED
ASSETS
· Plant and Machinery
· Electrical Installation
· Furniture and Fixture
· Motor Vehicles
· Tools and Dies
· Office Equipments
· Bicycle
· Computers
· D G Set
· Motor Car
· Fax Machine
· Building
· Air Conditioner
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No 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.54.39 |
|
|
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.