MIRA
INFORM REPORT
|
Report Date : |
06.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
UIC UDYOG LIMITED [w.e.f. 16.04.2007] |
|
|
|
|
Formerly Known
As : |
UIC WIRES LIMITED |
|
|
|
|
Registered
Office : |
Anandalok, Block – A, 1st Floor, 227, A J C
Bose Road, Kolkata - 700020, West Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation
: |
21.12.1995 |
|
|
|
|
Com. Reg. No.: |
21-76114 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.67.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109WB1995PLC076114 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
CALU01275B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Wire, Iron and Steel Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (59) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 5950000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having fine track. Financial
position of the company appears to be sound. Trade relations are reported as
fair. Business is active. Payments are reported to be usually correct and as
per commitments. The company can be considered normal 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
A – [Long Term Bank Facilities] |
|
Rating Explanation |
Having adequate degree of safety regarding timely servicing of
financial obligation. It carry low credit risk. |
|
Date |
August 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
'Anandalok', 227, AJC Bose Road, Kolkata - 700020, West
Bengal, India |
|
Tel. No.: |
91-33-22808811/ 8812 / 8813 /
22809490 |
|
Fax No.: |
91-33-22809492 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
|
|
Tel. No.: |
91-33-25820069 / 6332 |
|
Fax No.: |
91-33-25820070 |
DIRECTORS
AS ON 14.08.2012
|
Name : |
Mr. Bhanwar Lal Jajodia |
|
Designation : |
Chairman and Managing Director |
|
Address : |
CF – 286, Sector – I, |
|
Date of Birth/Age : |
22.12.1949 |
|
Date of Appointment : |
21.12.1995 |
|
00576094 |
|
|
|
|
|
Name : |
Mr. Kishore Kanjee |
|
Designation : |
Director |
|
Address : |
5/1B, |
|
Date of Birth/Age : |
18.04.1953 |
|
Date of Appointment : |
29.02.2000 |
|
Din No.: |
00560274 |
|
|
|
|
Name : |
Mr. Ram Chandra Bajaj |
|
Designation : |
Whole Time Director |
|
Address : |
CG 242, Sector – 1, |
|
Date of Birth/Age : |
02.07.1952 |
|
Date of Appointment : |
01.04.2002 |
|
Din No.: |
00568295 |
|
Election Commission Identity Card No.: |
RJ/08/063/444323 |
|
|
|
|
Name : |
Mr. Mandeep Mishra |
|
Designation : |
Director |
|
Address : |
Flat No. AGC, Sneha Garden, 28, Rai Bahadur Road,
Kolkata-700053, West Bengal, India |
|
Date of Birth/Age : |
27.05.1967 |
|
Date of Appointment : |
31.03.2011 |
|
Din No.: |
00559088 |
|
|
|
|
Name : |
Mr. Amit Bajaj |
|
Designation : |
Whole Time Director |
|
Address : |
CG 242, Sector – 1, |
|
Date of Birth/Age : |
17.04.1976 |
|
Date of Appointment : |
01.11.2010 |
|
Din No.: |
00591071 |
|
|
|
|
Name : |
Mr. Rabindra Nath Chakrabarty |
|
Designation : |
Director |
|
Address : |
Flat No. W/2/4, 78, Chetla Road, Kolkata-700027, West
Bengal, India |
|
Date of Birth/Age : |
12.08.1943 |
|
Date of Appointment : |
20.12.2011 |
|
Din No.: |
05151799 |
KEY EXECUTIVES
|
Name : |
Mr. Jayanta Saha |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
30.11.1961 |
|
Date of Appointment : |
01.08.2001 |
|
Election Commission Identity Card No.: |
WB/12/077/354240 |
|
Pan No.: |
BBNPS9703B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 14.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
Bhanwar Lal Jajodia |
|
493518 |
|
Mahendra Kumar Jajodia |
|
277340 |
|
Madhu Devi Jajodia |
|
354740 |
|
Madan Lal Jajodia |
|
178600 |
|
Prity Agarwal |
|
901840 |
|
Kavita Jajodia |
|
975012 |
|
Swati Jajodia |
|
813520 |
|
Ankita Jajodia |
|
839450 |
|
Bhanwar Lal Jajodia HUF |
|
178600 |
|
Mahendra Kumar Jajodia HUF |
|
184300 |
|
Bajrang Jajodia |
|
227200 |
|
Bajrang Jajodia HUF |
|
178600 |
|
Sangita Jajodia |
|
230500 |
|
Pooja Jajodia |
|
193000 |
|
Kunal Jajodia |
|
391630 |
|
Akshat Jajodia |
|
282150 |
|
|
|
|
|
TOTAL
|
|
6700000 |
AS ON 14.08.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Wire, Iron and Steel Products. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
· IDBI Bank Limited, Mid Corporate Group, IDBI House, 44 Shakespeare Sarani, Kolkata-700017, West Bengal, India ·
State Bank of India (Lead Bank), Commercial
Branch, Alipore, 24/1/1, Alipore Road, Kolkata-700027, West Bengal, India ·
DBS Bank Limited, (Acting as Security Trustee
on behalf of DBS Bank-Singapore) 4A, Nandalal Basu Sarani, Kolkata-700071,
West Bengal, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chhaparia and Associates Chartered Accountant |
|
Address : |
8 Camac Street, 6th
Floor, Kolkata – 700017, West Bengal, India |
|
Tel. No.: |
91-33-22824241/4213 and 6444, 30522086/87/88 |
|
Fax No.: |
91-33-22824752 |
|
PAN No: |
AADFC1689C |
|
|
|
|
Associates : |
·
UIC Industries Limited ·
UIC Finance Private Limited |
|
|
|
|
Other Related Parties : |
Prity Properties Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6700000 |
Equity Shares |
Rs.10/- each
|
Rs.67.000
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 |
67.000 |
67.000 |
67.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1421.462 |
1244.666 |
1092.550 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1488.462 |
1311.666 |
1159.550 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2416.007 |
1464.130 |
1370.651 |
|
|
2] Unsecured Loans |
50.000 |
49.454 |
2.868 |
|
|
TOTAL BORROWING |
2466.007 |
1513.584 |
1373.519 |
|
|
DEFERRED TAX LIABILITIES |
43.865 |
42.270 |
35.477 |
|
|
|
|
|
|
|
|
TOTAL |
3998.334 |
2867.520 |
2568.546 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
965.825 |
984.685 |
898.168 |
|
|
Capital work-in-progress |
66.635 |
3.531 |
39.182 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
1.332 |
1.186 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
645.152
|
462.173 |
497.196
|
|
|
Sundry Debtors |
1880.636
|
1608.530 |
1184.564
|
|
|
Cash & Bank Balances |
93.688
|
77.754 |
34.167
|
|
|
Other Current Assets |
19.595
|
12.477 |
0.000
|
|
|
Loans & Advances |
648.566
|
199.027 |
251.973
|
|
Total
Current Assets |
3287.637
|
2359.961 |
1967.900 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
161.475
|
315.900 |
165.776
|
|
|
Other Current Liabilities |
115.076
|
134.882 |
132.441
|
|
|
Provisions |
46.544
|
31.061 |
38.487
|
|
Total
Current Liabilities |
323.095
|
481.843 |
336.704
|
|
|
Net Current Assets |
2964.542
|
1878.118 |
1631.196
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3998.334 |
2867.520 |
2568.546 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4497.345 |
3869.080 |
3541.399 |
|
|
|
Other Income |
6.198 |
10.421 |
11.166 |
|
|
|
TOTAL (A) |
4503.543 |
3879.501 |
3552.565 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2711.264 |
2162.570 |
|
|
|
|
Purchases of stock-in-trade |
1073.359 |
858.053 |
|
|
|
|
Employee benefit expense |
72.497 |
64.640 |
|
|
|
|
Other expenses |
297.755 |
264.150 |
3089.593 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(281.121) |
32.419 |
|
|
|
|
TOTAL (B) |
3873.754 |
3381.832 |
3089.593 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
629.789 |
497.669 |
462.972 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
226.235 |
164.567 |
160.393 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
403.554 |
333.102 |
302.579 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
100.625 |
75.767 |
76.692 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
302.929 |
257.335 |
225.887 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
106.666 |
85.752 |
61.615 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
196.263 |
171.583 |
164.272 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
643.321 |
518.205 |
396.464 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
30.700 |
27.000 |
23.000 |
|
|
|
Proposed Dividend on Equity Shares |
16.750 |
16.750 |
16.750 |
|
|
|
Provision for Dividend Distribution Tax |
2.717 |
2.717 |
2.781 |
|
|
BALANCE CARRIED
TO THE B/S |
789.417 |
643.321 |
518.205 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
29.529 |
23.668 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
72.653 |
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
29.29 |
25.61 |
24.52 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.35
|
4.42 |
4.62
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.74
|
6.65 |
6.38
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.12
|
7.69 |
7.88
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.20 |
0.14
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.65
|
1.15 |
1.18
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
10.17
|
4.90 |
5.84
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating, if available |
Yes |
NOTE:
The registered office address of the company
has been shifted from Swaika Centre, 4a Pollock Street, 4th Floor,
Room No-6, Kolkata – 700001, West Bengal, India to present w.e.f. 01/04/2009.
|
Unsecured Loan |
As
on 31.03.2012 [Rs.
in Millions] |
As
on 31.03.2011 [Rs.
in Millions] |
|
Loans and demand on demand |
50.000 |
49.454 |
|
TOTAL
|
50.000 |
49.454 |
REVIEW OF PERFORMANCE:
During the year, the
gross turnover has increased by 18.46% to Rs. 4823.400 Millions from
Rs.4071.600 Millions in the previous year. Profit before Tax was Rs. 302.900
Millions compared to Rs. 257.300 Millions in the previous year, an increase of
17.72%. The improved performance was the result of a strong focus on the
operational efficiencies.
NEW PROJECTS:
The Company has
acquired the land for setting up of a Wire Drawing Unit for manufacture of
Non-alloy Steel Wires (both Galvanised and Non-Galvanised) including Low Relaxation
Pre-stressed Concrete Strand Wire (LRPC) at Bharuch in the state of Gujarat
with a capacity of 180,000 MT per annum with the latest state of the art
technology. For financing the said project, the Company has been sanctioned
adequate term loans by a consortium of bankers and is in the process of an
Initial Public Offer of the equity shares in the Company.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U27109WB1995PLC076114 |
|
Name of the
company |
UIC UDYOG LIMITED |
|
Address of the
registered office or of the principal place of business in |
'Anandalok', 227, |
|
Type of charge |
Book Debts Movable Property
[not being pledge] Floating Charge |
|
Particular of
charge holder |
DBS Bank Limited, (Acting as Security Trustee on behalf of DBS Bank-Singapore) 4A, Nandalal Basu Sarani, Kolkata-700071, West Bengal, India Email: vikram@dbs.com |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation |
|
Date of
instrument Creating the charge |
19.10.2012 |
|
Amount secured by
the charge |
Rs.450.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As agreed by and
with the Bank from time to time Terms of Repayment As agreed by and
with the Bank from time to time Margin As applicable, if
any Extent and Operation of the charge The Bank is
having A) second pari passu charge on a) goods being finished goods, semi
finished goods, stocks of raw materials, work in process.... b) book debts,
outstanding monies, receivables, claims, bills, contracts, engagements,
securities, investments, rights and assets B) first pari passu charge on all
present and future movable properties. Others For the purpose
of filing of this form 8, it is clarified that the facility Amount is repayable
in USD and any repayment from the sale/enforcement proceeds of the above said
assets shall be made at the then prevailing foreign currency exchange rate
for INR to USD, at the time of repayment to assess the full repayment amount
of the facility amount and any other / all charges, costs, penalties,
expenses, taxes etc to the charge-holder. |
|
Short particulars
of the property charged |
Hypothecation by
way of A) second pari passu charge on borrowers entire present and future a) goods
being finished goods, semi finished goods, stocks of raw materials, work in
process.... b) book debts, outstanding monies, receivables, claims, bills,
contracts, engagements, securities, investments, rights and assets. First pari passu
hypothecation and floating charge on present and future movable properties of
the borrower located at Plot No. 905/2 admeasuring 95178.86 sq. mtrs.
Situated at Jhagadia Industrial Estate, consisting of Revenue Survey no 207
paiki 208, paiki 209 + 917 paiki, 210 paiki and 211 paiki and 212 paiki in
Village Dadheda, Taluka Jhagadia, District Bharuch, Gujarat of the borrower. |
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 records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.88 |
|
|
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
59 |
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.