MIRA
INFORM REPORT
|
Report Date : |
06.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
COLOURTEX INDUSTRIES LIMITED (w.e.f. 20.03.2007) |
|
|
|
|
Formerly Known
As : |
COLOURTEX INDUSTRIES PRIVATE LIMITED PANDESARA DYES AND INTERMEDIARIES PRIVATE LIMITED |
|
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Registered
Office : |
S. No.80, Bhestan, G.I.D.C., Pandesar, |
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Country : |
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|
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Financials (as
on) : |
31.03.2012 |
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|
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|
Date of
Incorporation : |
23.10.1989 |
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|
|
|
Com. Reg. No.: |
04-012922 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.38.306 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231GJ1989PLC012922 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTP00070A |
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|
|
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PAN No.: [Permanent Account No.] |
AABCP6359B |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
Line of Business
: |
Manufacturing and Trading of Dyes and Intermediates. |
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|
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 14500000 |
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|
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having a good track record.
There appears drastic fall in the profitability during the current year. However, general financial position of the company seems to be strong.
Performance capability appears to be high. Trade relations are reported to be
fair. Business is active. Payments are reported to be regular and as per
commitment. The company can be considered for normal business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
S. No.80, Bhestan, G.I.D.C., Pandesar, |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
mitulnaik30@gmail.com |
|
Website : |
|
|
|
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|
Head Quarter : |
Survey No.91, Opposite Navin Fluorine Industries, Bhestan,
Surat – 395023, Gujarat, India |
|
Tel. No.: |
91-261-2897800/ 801/ 802 |
|
Fax No.: |
91-261-2892364/ 2890080 |
|
E-Mail : |
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Factory 1: |
Survey No.74/79/80, Plot No.158/15 to 19, 19, 438-1, 2, 3, 4, Bhestan
G.I.D.C., Pandesara, |
|
Tel. No.: |
91-261-2891428/ 2891429/ 2897800/ 801/ 802 |
|
Fax No.: |
91-261-2890080/ 2892364 |
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E-Mail : |
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|
Website : |
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Area : |
69000 Sq. mtrs. (Land area – 80000 Sq. mtrs.) |
|
Location : |
Owned |
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Factory 2 : |
Kim, Karanj, Bhestan, District |
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Factory 3 : |
Survey No.75/50/80, Plot No.158, Bhestan, GIDC, Pandesara, |
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Factory 4 : |
Plot No. 8108/2, 288/1-2, 289/2 G.I.D.C., Sachin, Surat –
394230, Gujarat, India |
|
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|
|
Overseas Office 1 : |
Colourtex Inc. 8000 Corporate Lane Drive, |
|
Tel. No.: |
+ 1 704 540 1528 |
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Fax No.: |
+ 1 704 540 1529 |
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E-Mail : |
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Overseas Office 2 : |
Colourtex (Asia
Pacific) Limited |
|
Tel. No.: |
+852 35273633 |
|
Fax No.: |
+852 35273661 |
|
E-Mail : |
|
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|
|
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Branch Office : |
Located at: v Ahmedabad v Bhilwara v
v Chennai v
v Ichhalkaranji v
Mumbai v
Tirupur |
|
|
|
|
Sales Office : |
Located at: v
v
v
v
v
v
Kolkata |
DIRECTORS
As on: 28.09.2012
|
Name : |
Mr. Vishadkumar Jayantilal Jariwala |
|
Designation : |
Director |
|
Address : |
4, Etka, Opposite Trinidhi Apartment, Ghaddod Road, Surat – 395007,
Gujarat, India |
|
Date of Birth/Age : |
26.09.1975 |
|
Qualification : |
B Com |
|
Date of Appointment : |
29.12.1994 |
|
DIN No.: |
00076314 |
|
|
|
|
Name : |
Mr. Jayantilal Thakordas Jariwala |
|
Designation : |
Managing Director |
|
Address : |
3, Etka, Opposite Trinidhi Apartment, Ghad Dod Road, Surat – 395001,
Gujarat, India |
|
Date of Birth/Age : |
04.11.1943 |
|
Qualification : |
B Com |
|
Date of Appointment : |
02.03.2011 |
|
DIN No.: |
00110103 |
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|
|
|
Name : |
Mr. Kanakkumar Jayantilal Jariwala |
|
Designation : |
Director |
|
Address : |
3, Etka, Opposite Trinidhi Apartment, |
|
Date of Birth/Age : |
17.11.1973 |
|
Qualification : |
BSC |
|
Date of Appointment : |
18.01.1994 |
|
DIN No.: |
00110182 |
|
|
|
|
Name : |
Mr. Maheshchandra Dhansukhlal Kabutarwala |
|
Designation : |
Director |
|
Address : |
4, Etka Society, Opposite Mamta Apartment, |
|
Date of Birth/Age : |
16.11.1965 |
|
Qualification : |
B Com |
|
Date of Appointment : |
22.09.1993 |
|
DIN No.: |
00110317 |
|
|
|
|
Name : |
Mr. Pravinchandra Dhansukhlal Kabutarwala |
|
Designation : |
Director (Operating and HRD) |
|
Address : |
4, Etka Society, Opposite Mamta Apartment, |
|
Date of Birth/Age : |
03.10.1956 |
|
Qualification : |
BSC |
|
Date of Appointment : |
23.10.1989 |
|
DIN No.: |
00110351 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 28.09.2012
|
Names of Shareholders |
|
No. of Equity
Shares |
|
Jayantilal Jariwala |
|
1019044 |
|
Kanakkumar Jariwala |
|
397786 |
|
Vishadkumar Jariwala |
|
393479 |
|
Rameshchandra Kabutarwala |
|
367974 |
|
Pravinchandra Kabutarwala |
|
339687 |
|
Bipinchandra Kabutarwala |
|
365170 |
|
Maheshchandra Kabutarwala |
|
335885 |
|
Bhavesh Kabutarwala |
|
2381 |
|
Jenish Kabutarwala |
|
2807 |
|
Ketan Kabutarwala |
|
2313 |
|
Shyam Kabutarwala |
|
125 |
|
Shilpa Jariwala |
|
3200 |
|
Jay Kabutarwala |
|
125 |
|
Krunal Kabutarwala |
|
323 |
|
Urmila Asumati Trust (Proprietor of Shree Corporation
Trustee-Jayantilal Thakordas), |
|
281 |
|
Thakor Private Trust Trustee- Vishadkumar Jariwala |
|
1 |
|
|
|
|
|
Total |
|
3230581 |
|
Names of Shareholders |
|
No. of
Preference Shares |
|
Jayantilal Jariwala |
|
48000 |
|
Kanakkumar Jariwala |
|
36000 |
|
Vishadkumar Jariwala |
|
36000 |
|
Rameshchandra Kabutarwala |
|
60000 |
|
Pravinchandra Kabutarwala |
|
60000 |
|
Bipinchandra Kabutarwala |
|
48000 |
|
Maheshchandra Kabutarwala |
|
48000 |
|
Bhavesh Kabutarwala |
|
12000 |
|
Jenish Kabutarwala |
|
24000 |
|
Ketan Kabutarwala |
|
24000 |
|
Jagrutiben Kabutarwala |
|
24000 |
|
Urmilaben Jariwala |
|
24000 |
|
Hemlataben Kabutarwala |
|
24000 |
|
Ishwariben Kabutarwala |
|
24000 |
|
Ushaben Kabutarwala |
|
12000 |
|
Shyam Kabutarwala |
|
24000 |
|
Shilpa Jariwala |
|
12000 |
|
Jyotiben Jariwala |
|
24000 |
|
Jay Kabutarwala |
|
24000 |
|
Krunal Kabutarwala |
|
12000 |
|
|
|
|
|
Total |
|
600000 |
Equity Share Break up (Percentage of Total Equity)
As on: 28.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of Dyes and Intermediates. |
||||||
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||||||
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Products : |
|
PRODUCTION STATUS (As on: 31.03.2012)
|
Particulars |
Actual
Production |
|
S.O. Dyes |
2131592 |
|
Dyes Intermediates |
29678 |
|
Organic Surface Active Agents |
1013 |
|
Misc. Chemical Products |
250162 |
|
Intermediates |
1324263 |
|
Mineral Fuel, Oils, etc. |
4500 |
|
Articles of Plastics |
5 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· IDBI Bank Limited · Bank of Baroda · Standard Chartered Bank, Abhijeet II, Ground Floor, Near Mithakali Six Roads, Ahmedabad – 380 006, Gujarat, India |
|||||||||||||||
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|||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.N.K. and Company Chartered Accountants |
|
Address : |
45, Sai Nagar Society, Behind Bhulka Bhavan School, Adajan Road, Surat
– 395009, India |
|
Tel. No.: |
91-261-2656273-4/ 6544791-2/ 3299540-47 |
|
Fax No.: |
91-261-2656868 |
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E-Mail: |
|
|
Website : |
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|
PAN No.: |
AAJFS8455L |
|
|
|
|
Related Parties : |
· Bhavin Fashions · Bhavin Textiles · Bhavin Industries · Vipan Industries · C M C Industries · Coconut Software Private Limited · CTX Lifescience Private Limited · Dhanesh Enterprise Private Limited · Thakor Private Trust · Shree Corporation (Prop.Urmila Asumati Trust) |
|
|
|
|
Subsidiary Company
: |
· C T X Dyestuffs Private Limited · Colourtex (Asia Pacific) · Colourtex Inc. · Coltex.S.A |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
22180000 |
Equity Shares |
Rs.10/- each |
Rs.221.800 Millions |
|
7650000 |
Preference Shares |
Rs.10/- each |
Rs.76.500 Millions |
|
|
|
|
|
|
|
Total
|
|
Rs.298.300
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3230581 |
Equity Shares |
Rs.10/- each |
Rs.32.306 Millions |
|
600000 |
Preference Shares |
Rs.10/- each |
Rs.6.000 Millions |
|
|
|
|
|
|
|
Total
|
|
Rs.38.306
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 |
38.306 |
37.500 |
29.882 |
|
|
2] Share Application Money |
0.000 |
0.806 |
0.000 |
|
|
3] Reserves & Surplus |
3597.049 |
3535.833 |
2457.738 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3635.355 |
3574.139 |
2487.620 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1262.103 |
1079.074 |
989.895 |
|
|
2] Unsecured Loans |
2733.841 |
1897.928 |
2081.148 |
|
|
TOTAL BORROWING |
3995.944 |
2977.002 |
3071.043 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
14.897 |
|
|
|
|
|
|
|
|
TOTAL |
7631.299 |
6551.141 |
5573.560 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2696.629 |
2202.515 |
2011.588 |
|
|
Capital work-in-progress |
538.802 |
317.042 |
122.165 |
|
|
|
|
|
|
|
|
INVESTMENT |
26.516 |
26.515 |
62.563 |
|
|
DEFERREX TAX ASSETS |
13.246 |
25.268 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2932.203
|
2747.821 |
2043.169
|
|
|
Sundry Debtors |
3222.382
|
2761.720 |
2342.173
|
|
|
Cash & Bank Balances |
339.019
|
214.129 |
101.118
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Other Non Current Assets |
19.978
|
19.713 |
0.000 |
|
|
Loans & Advances |
660.973
|
940.920 |
708.069 |
|
Total
Current Assets |
7174.555
|
6684.303 |
5194.529 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2460.365
|
2353.020 |
1599.258
|
|
|
Other Current Liabilities |
307.583
|
189.988 |
76.844
|
|
|
Provisions |
50.501
|
161.494 |
141.193
|
|
Total
Current Liabilities |
2818.449
|
2704.502 |
1817.295 |
|
|
Net Current Assets |
4356.106
|
3979.801 |
3377.234
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.010 |
|
|
|
|
|
|
|
|
TOTAL |
7631.299 |
6551.141 |
5573.560 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
12698.700 |
11222.632 |
8565.791 |
|
|
|
Other Income |
18.307 |
15.323 |
5.886 |
|
|
|
TOTAL (A) |
12717.007 |
11237.955 |
8571.677 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
9311.648 |
8324.311 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(225.625) |
(471.354) |
|
|
|
|
Employee benefit expense |
521.555 |
389.381 |
|
|
|
|
Other expenses |
2129.005 |
1897.285 |
|
|
|
|
TOTAL (B) |
11736.583 |
10139.623 |
7525.195 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
980.424 |
1098.332 |
1046.482 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
336.930 |
314.732 |
268.233 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
643.494 |
783.600 |
778.249 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
546.347 |
485.949 |
456.018 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
97.147 |
297.651 |
322.231 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
35.660 |
100.607 |
114.586 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
61.487 |
197.044 |
207.645 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Direct Export |
3148.936 |
2906.222 |
2116.702 |
|
|
TOTAL EARNINGS |
3148.936 |
2906.222 |
2116.702 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2875.427 |
2545.124 |
1744.387 |
|
|
|
Capital Goods |
19.413 |
17.243 |
7.689 |
|
|
|
Advance for Capital Goods |
17.518 |
45.313 |
81.813 |
|
|
TOTAL IMPORTS |
2912.358 |
2607.680 |
1833.889 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
19.03 |
63.87 |
69.55 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.48 |
1.75 |
2.42 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.76 |
2.65 |
3.76 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.98 |
3.35 |
4.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.08 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.10 |
0.83 |
1.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.55 |
2.47 |
2.86 |
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 |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
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 |
OPERATIONS:
The performance of the company during the year 2011-12 was satisfactory. The company has earned net revenue of Rs.12698.700 Millions from operations and Rs. 18.307 Millions from other sources for the year. After providing an expenditure of Rs. 12655.520 Millions, the company has earned Net Profit of Rs. 61.487 Millions.
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
Loans and advances from directors |
2733.841 |
1897.928 |
|
|
|
|
|
Total |
2733.841 |
1897.928 |
CONTINGENT
LIABILITIES:
(Rs. In Millions)
|
Particular |
31.03.2012 |
31.03.2011 |
|
Guarantees issued
by the Company’s Bankers on behalf of the Company |
|
|
|
Bank of Baroda |
22.251 |
12.600 |
|
IDBI Bank |
37.889 |
1.000 |
|
Letter of credit
opened by banks |
|
|
|
IDBI Bank |
NIL |
22.300 |
|
Disputed Excise Duty and Other demands |
6.856 |
6.016 |
|
Income Tax demands where the cases are pending at various stages of appeal with the authorities |
14.098 |
14.098 |
FIXED ASSETS:
Tangible Assets
· Buildings
· Residential Building
· Factory Building
· Plant and Equipment
· Factory Equipments
· Vehicles
· Computer Equipments
· Office Equipments
· Land
· Furniture and Fixtures
Intangible Assets
· Computer Software
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 Declration :
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.54.88 |
|
|
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.