MIRA
INFORM REPORT
|
Report Date : |
02.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
NICO EXTRUSIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
12 Niraj Industrial Estate, Opposite Mahakali Caves Road, Andheri (East),
Mumbai - 400093, Maharashtra |
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Country : |
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|
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
23.02.1996 |
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Com. Reg. No.: |
11-097588 |
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Capital
Investment / Paid-up Capital : |
Rs. 50.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28113MH1996PTC097588 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN05221G |
|
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|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Exporter of Non Ferrous
Metal Alloys |
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|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 500000 |
|
|
|
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The
management of the company has not filed its financials with the government
department. As per previous year record. It seems that the company recorded
huge external borrowings. However, trade relations are reported as fair.
Business is active. Payment terms are unknown. The company can be considered for business dealings with some
cautions. Note: Mr. Vishwanth
(Canara Bank) has claimed some overdrawing however it seems also confirmed that
the company maintain proper record and good relation with bank. |
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 |
ICRA |
|
Rating |
LONG TERM BASED FACILITIES (Suspended) : BB – |
|
Rating Explanation |
Moderate risk of default |
|
Date |
May, 2012 |
|
Reason for Suspended |
Inability to carry out a rating surveillance in absence of the
requisite information from the company |
|
Rating Agency Name |
ICRA |
|
Rating |
NON FUND BASED FACILITIES : A4 |
|
Rating Explanation |
Minimal degree of safety it carry high credit risk |
|
Date |
May, 2012 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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. Dharmesh |
|
Designation : |
Account Manager |
|
Contact No.: |
91-22-66938700 |
|
Date : |
30.03.2013 |
LOCATIONS
|
Registered
Office : |
12 Niraj Industrial Estate, Opposite Mahakali Caves Road, Andheri
(East), Mumbai - 400093, Maharashtra, India |
|
Tel. No.: |
91-22-66938700/ 42608787 |
|
Fax No.: |
91-22-26872152 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory : |
Survey No. 678, 1/3, Plot No. 4, Bhilad-Sivassa, Main Road, Before Naroli
Check Post, Naroli, Silvassa- 396235, Union Territory, India |
|
Tel. No.: |
91-260-6536035 |
|
Telefax No.: |
91-260-2650215 |
|
Location : |
Owned |
|
|
|
|
Godown : |
9-B, MIDC Industrial Area, |
|
Tel. No.: |
91-2522-260137 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Vipul Ambalal Porwal |
|
Designation : |
Director |
|
Address : |
301, Swastik Sadan, 8th Road, Khar (West), Mumbai - 400052,
Maharashtra, India |
|
Date of Birth/Age : |
09.08.1976 |
|
Qualification : |
B.com |
|
Date of Appointment : |
10.10.2000 |
|
DIN No.: |
00207179 |
|
|
|
|
Name : |
Mr. Nitul Bhupat Shah |
|
Designation : |
Director |
|
Address : |
101, Kusum Kunj, Jn. of 9th and 10th Road, Khar (West), Mumbai -
400052, Maharashtra, India |
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Date of Birth/Age : |
10.01.1983 |
|
Qualification : |
MBA |
|
Date of Appointment : |
01.07.2003 |
|
DIN No.: |
00289512 |
KEY EXECUTIVES
|
Name : |
Mr. Dharmesh Patel |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Tushar A Porwal |
179148 |
|
Vipul Ambalal Porwal |
179148 |
|
Bhupat Shah (HUF) |
500000 |
|
Ritu Jain |
261581 |
|
Ruchi Porwal |
261612 |
|
Manjula Porwal |
899834 |
|
Nirmala Porwal |
914217 |
|
Vilas B. Shah |
500000 |
|
Nitul Shah |
500000 |
|
Ambalal Porwal |
179280 |
|
Metec Asia Private Limited, India |
300000 |
|
Bhupat Shah |
325180 |
|
Total |
5000000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
6.00 |
|
Directors or relatives of Directors |
94.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Non Ferrous
Metal Alloys |
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Export: |
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Products : |
Finished Goods |
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Countries: |
European Countries |
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Imports : |
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Products : |
Raw Materials |
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Countries: |
European Countries |
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Terms: |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
(Single
Shift) |
|
|
NON Ferrous Alloys |
Tones |
18000 |
5960.57 |
|
|
|
|
|
GENERAL INFORMATION
|
Suppliers : |
· A G and Sons · Ashu Raj Transport ·
Bharat Steel Suppliers ·
Bhoruka Roadways India
Private Limited · Care Clearing and Forwarding Private Limited · Gurukrupa Road Lines · Indian Oil Corporation · Marudhar Refractories · Mahabat Enviro Enginering |
|||||||||||||||
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|||||||||||||||
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Customers : |
Wholesalers, Retailers and End Users ·
Almonard Private Limited ·
Alphacraft Private Limited ·
Facor Steel Limited ·
Goyal Chemicals Industries ·
Manoj Industries ·
Krishna Enterprises ·
Pakiza Traders ·
S A Traders ·
Shreji Times ·
Sri Balaji Casting Private Limited ·
Super Auto India Limited |
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No. of Employees : |
250 (Approximately) |
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Bankers : |
·
Canara
Bank, Fort Main Branch, Warden House, Sir P M Road, Fort, Mumbai-400001,
Maharashtra, India Tel No.: 91-22-22870503 ·
HDFC Bank |
|||||||||||||||
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|
|||||||||||||||
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Facilities : |
FOOTNOTES: (A)
1)
Buyers Credit (Canara Bank Secured Against Hypothecation Of Stock And Book
Debts) Rs.346.012 Millions 2) Bank Cc A/C Canara Bank
Secured Against Hypothecation Of Stock And Book Debts) Rs.101.709 Millions (B)
1) Buyers Credit (Canara Bank Secured Against
Hypothecation Of Stock And Book Debts) RS.328.319 Millions (C)
ICICI
Bank Car Loan 1)
SX4-HDFC-DN-09-D-2089
RS.0.900 Million 2)
Honda
Accord-HDFC Bank-MH-02-BG-1906 Rs.0.585 Million (D) Loan Against Fixed Deposit Rs.0.927
Million |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Shaparia and Mehta Chartered Accountants |
|
Address : |
1/91, Sagar Niwas, Bhaudaji Cross Road 10, Matunga Central, Mumbai – 400019, Maharashtra, India |
|
Tel. No.: |
91-22-24098905/06/07/08 |
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Fax No.: |
91-22-24098905/06/07/08 |
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E-Mail : |
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PAN No.: |
AABFS3225N |
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Associates: |
·
Amar Ferro Metals Private Limited ·
Metec Asia Private Limited ·
Padma Nutrients Private Limited |
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 |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
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|
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|
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 |
50.000 |
50.000 |
50.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
81.416 |
65.134 |
50.113 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
131.416 |
115.134 |
100.113 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
448.649 |
328.915 |
211.782 |
|
|
2] Unsecured Loans |
129.485 |
65.278 |
51.314 |
|
|
TOTAL BORROWING |
578.134 |
394.193 |
263.096 |
|
|
DEFERRED TAX LIABILITIES |
2.840 |
3.196 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
712.390 |
512.523 |
363.209 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
34.693 |
38.228 |
38.936 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.020 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
637.191
|
576.962
|
729.645 |
|
|
Sundry Debtors |
162.773
|
125.396
|
86.707 |
|
|
Cash & Bank Balances |
55.292
|
64.954
|
2.914 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
189.521
|
179.492
|
56.033 |
|
Total
Current Assets |
1044.777
|
946.804
|
875.299 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
309.220 |
162.986 |
240.229 |
|
|
Other Current Liabilities |
31.662
|
290.496
|
295.685 |
|
|
Provisions |
27.218
|
19.027
|
15.112 |
|
Total
Current Liabilities |
368.100
|
472.509
|
551.026 |
|
|
Net Current Assets |
676.677
|
474.295
|
324.273 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
712.390 |
512.523 |
363.209 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
||
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||
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SALES |
|
|
|
||
|
|
|
Sales Turnover |
1849.700 |
|
|
|
|
|
|
Other Income |
NA |
NA |
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Office Expenses |
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
|
Advertising Expenses |
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|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
||
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
28.412 |
26.210 |
9.618 |
||
|
|
|
|
|
|
||
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4.295 |
3.992 |
3.830 |
||
|
|
|
|
|
|
||
|
|
PROFIT BEFORE
TAX |
24.117 |
22.218 |
5.788 |
||
|
|
|
|
|
|
||
|
Less |
TAX |
7.835 |
7.197 |
1.622 |
||
|
|
|
|
|
|
||
|
|
PROFIT AFTER TAX
|
16.282 |
15.021 |
4.166 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
126.278 |
93.082 |
71.335 |
|
|
|
TOTAL EARNINGS |
126.278 |
93.082 |
71.335 |
||
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|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
897.692 |
649.630 |
NA |
|
|
|
TOTAL IMPORTS |
897.692 |
649.630 |
NA |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
3.26 |
-- |
-- |
||
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
2000.000 |
The above information has been parted by Mr. Dharmesh (Accounts
Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA |
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.23
|
2.26
|
0.63 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.19
|
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
4.40 |
3.42 |
2.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.83
|
2.00
|
1.59 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors due small micro enterprises |
0.000 |
0.000 |
233.104 |
|
Sundry Creditors due others |
309.220 |
162.986 |
7.125 |
|
Total |
309.220 |
162.986 |
240.229 |
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishments |
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 |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
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 |
No |
|
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 |
DETAILS OF UNSECURED LOAN
(Rs. In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
|
Rupee term loans others unsecured |
(A) 129.485 |
55.128 |
|
Working capital loans others unsecured |
0.000 |
(B) 10.150 |
|
Total |
129.485 |
65.278 |
|
FOOTNOTES: (A) A. M. Fiance
And Investment (B) Anil S Shah
Rs.10.150 Millions |
||
BUSINESS ACTIVITY:
Looking at the worldwide recession during the year, the
Directors are quite satisfied with the performance of the Company. The turnover
of the Company still increased from 1779.800 Millions in the previous year to
1849.700 Millions and achieving net profits before tax of Rs.2411.700 Millions
during the year
CONTINGENT
LIABILITIES:
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
|
Appeals filed in respect of disputed demands: |
|
|
- Sales Tax |
0.208 |
However, the Company has not made any provision in the books for the same
FORM 8
|
Corporate
identity number of the company |
U28113MH1996PTC097588 |
|
Name of the
company |
NICO EXTRUSIONS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
12 Niraj Industrial Estate, Opposite Mahakali Caves Road, Andheri
(East), Mumbai - 400093, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) Others |
|
Particular of
charge holder |
Canara Bank, Fort
Main Branch, Warden House, Sir P M Road, Fort, Mumbai-400001, Maharashtra,
India |
|
Nature of
instrument creating charge |
Supplemental
Common Hypothecation Agreement (Scha) dated 08.09.2011 |
|
Date of
instrument Creating the charge |
08.09.2011 |
|
Amount secured by
the charge |
Rs. 540.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest As per Sanction
Letter No. FB/CR- 1262/1393/2011/ASG dated 08.09.2011 or as stipulated by
Bank from time to time. Terms of repayment As per Sanction
Letter No. FB/CR- 1262/1393/2011/ASG dated 08.09.2011 or as stipulated by
Bank from time to time Margin As per Sanction
Letter No. FB/CR- 1262/1393/2011/ASG dated 08.09.2011 or as stipulated by
Bank from time to time. Extent and operation of the charge The Credit Facilities
granted by Bank enhanced from Rs.500.000 millions to Rs. 540.000 millions.
Security by hypothecation of Stocks, Receivables, Plant and Machinery etc. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
all present and future RM, GIP, FG, Stores and Spares and other movable goods
and properties of every description where so ever situate. Hypothecation of
goods purchased and received under the credit facilities. Hypothecation of
all present and future Book debts, Outstanding Money Receivables etc., due
and owing to the Company during the course of its business. Hypothecation of
Plant and Machinery as collateral security. All that piece
and parcel of N.A. land for Industrial purpose bearing Plot No.4, S. No.
678/1/3, adm. 8000 sq. mtrs at Vill. Naroli Union Territory of Dadra and
Nagar Haveli together with constructions, P and M the Godown constructed on
N.A. land bearing Plot No. 9-B/1 adm. 3736 sq. mtrs at Vill Saravali, Kalyan
Bhivandi Industrial Area, District Thane together with constructions, Plant
and Machinery thereon. |
|
Charge
identification number of the charge to be modified |
10181794 |
|
Date of
instrument modifying the charge |
14.12.2010 |
|
Particulars of
the present modification |
The Credit
Facilities granted by Bank enhanced from Rs.500.000 millions to Rs.540.000
millions. Security by hypothecation of Stocks, Receivables, Plant and
Machinery etc. |
FIXED ASSETS:
- Land
- Building
- Plant and Machinery
- Computer
- Spectrometer
- Transformer – Distribution
- Temperature Indicator
- Miscellaneous Expenses
- Furniture and Fixtures
- Electric Installation
- Water Pumps
- Fax Machines
- Water Tanks
- Metal Detector
- Air Conditioner
- Air Pollutions Control Systems
- Vehicles
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
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.