MIRA
INFORM REPORT
|
Report Date : |
10.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
RAVIRAJ FOILS LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 169, P O Chharodi Farm, Taluka Sanand, District Ahmedabad-
382170, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
26.04.1996 |
|
|
|
|
Com. Reg. No.: |
04-029467 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 83.102 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
u27203GJ1996PLC029467 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMR00249E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR7333J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
manufacturer
and Exporter of Aluminum foils |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 540000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The
company having a moderate track record. The company has performed well and wipe
out its accumulated loss during the year 2011-2012. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with great
caution. |
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 |
CRISIL |
|
Rating |
B – (Long Term Rating) |
|
Rating Explanation |
Having high risk of default regarding timely servicing of financial
obligation. |
|
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.
INFORMATION PARTED BY
|
Name : |
Mr. Digvijay |
|
Designation : |
Accountant |
|
Contact No.: |
91-2717-273306 |
|
Date : |
01.04.2013 |
LOCATIONS
|
Registered Office / Works : |
Survey No. 169, P O Chharodi Farm, Taluka Sanand, Sanand – 382170,
District Ahmedabad, Gujarat, India |
|
Tel. No.: |
91-2717-273306/ 273307/ 273308/ 273262/ 273360 |
|
Fax No.: |
91-2717-273263 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
City Office : |
702, ‘SAFFRON’, 7th Floor, Near Panchwati, Ambawadi – 380006,
Ahmedabad – 380006, India |
|
Tel. No.: |
91-79-26468639 / 40 |
|
Fax No.: |
91-79-26566144 |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Jaydeepsinh Ravubha Vaghela |
|
Designation : |
Managing Director |
|
Address : |
C-803, Prestiage Tower, Near Judges Bulglow, Bodakdev,
Ahmedabad-380054, Gujarat, India |
|
Date of Birth/Age : |
24.07.1968 |
|
Qualification : |
Diploma in Civil Engineer |
|
Date of Appointment : |
01.04.2012 |
|
PAN No.: |
ABJPV0884D |
|
DIN No.: |
00030385 |
|
|
|
|
Name : |
Mr. Ravubha Bhikhubha Vaghela |
|
Designation : |
Whole-time Director |
|
Address : |
“SHIVAM Bungalow, Bavla Road, Sanand, District Ahmedabad – 382110,
Gujarat, India |
|
Date of Birth/Age : |
15.08.1944 |
|
Qualification : |
B.A., B.ED |
|
Date of Appointment : |
01.04.2012 |
|
PAN No.: |
AAVPV0306P |
|
DIN No.: |
00014040 |
|
|
|
|
Name : |
Mr. Rajendrasinh Ravubha Vaghela |
|
Designation : |
Director |
|
Address : |
C-103, Prestige Tower, Near Judges Bunglow, Bodakdev,
Ahmedabad-380054, Gujarat, India |
|
Date of Birth/Age : |
17.11.1970 |
|
Qualification : |
B.A. |
|
Date of Appointment : |
26.04.1996 |
|
DIN No.: |
00030442 |
KEY EXECUTIVES
|
Name : |
Mr. Digvijay |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Equity Shareholders |
No. of Shares |
|
Jaydipsinh Vaghela |
2730500 |
|
Rajendrasinh R Vaghela |
100 |
|
Induben R. Vaghela |
155400 |
|
Rakshaben J. Vaghela |
145300 |
|
Rekhaben R. Vaghela |
100 |
|
Ravubha B. Vaghela |
1878800 |
|
Anant Vaghela |
20000 |
|
Abhieet J. Vaghela |
20000 |
|
TOTAL
|
4950200 |
|
Names of Preference Shareholders |
No. of Shares |
|
Jaydipsinh Vaghela |
1673725 |
|
Induben R. Vaghela |
469180 |
|
Rakshaben J. Vaghela |
349820 |
|
Ravubha B. Vaghela |
867275 |
|
TOTAL
|
3360000 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
manufacturer and Exporter of Aluminum foils |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Exports : |
|
||||
|
Countries : |
·
Africa ·
Asian Countries |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
L/C, Cash, Credit (30 Days) |
||||
|
|
|
||||
|
Purchasing : |
L/C, Cash, Credit (30 Days) |
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Aluminium Foils |
M.T. |
6000 |
4225.936 |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers |
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
200 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
HDFC Bank Limited ·
Dena Bank, Dena Laxmi Building, Ashram Road,
Ahmedabad-380009, Gujarat, India ·
ICICI Bank Limited |
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
G.K. Choksi and Company Chartered Accountants |
|
Address : |
Madhuban, Near
Madalpur Underbridge, Ellisbridge, Ahmedabad-380006, Gujarat, India |
|
Tel. No.: |
91-79-30012009 |
|
Fax No.: |
91-79-26569929 |
|
E-Mail : |
|
|
PAN No.: |
AAAFG7623H |
|
|
|
|
Related Parties : |
·
Shakti Tractors ·
Satyam Reality Developers Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
3360000 |
Preference Shares |
Rs.10/- each |
Rs. 33.600 Millions |
|
|
TOTAL |
|
Rs. 83.600
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4950200 |
Equity Shares |
Rs.10/- each |
Rs. 49.502
Millions |
|
3360000 |
Preference Shares |
Rs.10/- each |
Rs. 33.600 Millions |
|
|
TOTAL |
|
Rs. 83.102 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 |
83.102 |
83.102 |
83.102 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
52.362 |
(84.361) |
10.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(100.047) |
|
|
NETWORTH |
135.464 |
(1.259) |
(6.945) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
123.460 |
11.819 |
21.316 |
|
|
2] Unsecured Loans |
31.151 |
0.500 |
1.361 |
|
|
TOTAL BORROWING |
154.611 |
12.319 |
22.677 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
290.075 |
11.060 |
15.732 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
116.459 |
71.299 |
77.312 |
|
|
Capital work-in-progress |
5.396 |
4.633 |
5.594 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.606 |
4.665 |
0.046 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
102.556
|
65.454
|
85.124
|
|
|
Sundry Debtors |
155.504
|
89.405
|
77.780
|
|
|
Cash & Bank Balances |
13.631
|
21.712
|
20.963
|
|
|
Other Current Assets |
0.655
|
0.612
|
0.000
|
|
|
Loans & Advances |
158.926
|
66.452
|
45.343
|
|
Total
Current Assets |
431.272
|
243.635 |
229.210 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
112.297
|
94.128
|
113.359
|
|
|
Other Current Liabilities |
142.010
|
202.131
|
169.043
|
|
|
Provisions |
9.351
|
16.913
|
14.028
|
|
Total
Current Liabilities |
263.658
|
313.172 |
296.430 |
|
|
Net Current Assets |
167.614
|
(69.537)
|
(67.222)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
290.075 |
11.060 |
15.732 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1185.121 |
820.928 |
797.871 |
|
|
|
Other Income |
26.676 |
6.295 |
9.053 |
|
|
|
TOTAL (A) |
1211.797 |
827.223 |
806.924 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
881.422 |
624.129 |
|
|
|
|
Purchases of stock-in-trade |
0.630 |
0.869 |
|
|
|
|
Employee benefit expense |
42.421 |
28.277 |
|
|
|
|
Other expenses |
105.855 |
84.930 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(10.159) |
16.921 |
|
|
|
|
TOTAL |
1020.169 |
755.126 |
711.966 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
191.628 |
72.097 |
94.958 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
7.175 |
25.980 |
58.437 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
184.453 |
46.117 |
36.521 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
13.030 |
13.911 |
18.922 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
ITEMS |
0.000 |
(2.919) |
(8.639) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
171.423 |
29.287 |
8.960 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
34.700 |
23.600 |
12.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
136.723 |
5.687 |
(3.540) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(94.361) |
(100.048) |
(96.508) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
42.362 |
(94.361) |
(100.048) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
187.277 |
112.653 |
150.709 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
44.795 |
42.504 |
75.806 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
27.62 |
1.15 |
(0.72) |
|
Expected Sales (2012-2013) : Rs. 850.000 Millions
The above information has been parted by Mr. Digvijay.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
11.28
|
0.69 |
(0.44) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.46
|
3.57 |
1.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
31.30
|
9.30 |
2.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.27
|
(23.26) |
(1.29) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.14
|
9.78 |
3.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.64
|
0.78 |
0.77 |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming financial
year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
|
UNSECURED LOAN |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Loans and advances from related parties |
31.151 |
0.500 |
|
|
|
|
|
TOTAL |
31.151 |
0.500 |
PERFORMANCE
The turnover of the
Company has increased by Rs 384.573 Millions (i.e. as increase of 46.49%) as
compared to previous year. The company has achieved net profit of Rs 136.723
Millions as against Rs 5.687 Millions during the previous year.
FORM 8
|
Corporate identity
number of the company |
U27203GJ1996PLC029467 |
|
Name of the
company |
RAVIRAJ FOILS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Survey No. 169, P O Chharodi Farm, Taluka Sanand, Sanand – 382 170,
District Ahmedabad, Gujarat, India Email: info@ravirajfoils.com
|
|
This form is for |
Modification of
charge |
|
Charge identification
number of the charge to be modified |
10285755 |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
Dena Bank, Dena Laxmi Building, Ashram Road, Ahmedabad-380009, Gujarat,
India |
|
Nature of
instrument creating charge |
Supplemental
Agreement of Hypothecation( Goods, Book Debts and other Movable Assets to
secure Multiple Facilities) Memorandum of
Extension Relating to Deposit of Title Deeds |
|
Date of
instrument Creating the charge |
22.02.2013 |
|
Amount secured by
the charge |
Rs. 271.225
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest -- Terms of repayment -- Margin -- Extent and operation of the charge First Charge on
the movable assets offered as security Immovable assets
have also been offered as security |
|
Short particulars
of the property charged (Including location of the property) |
All Stock of raw materials,
Goods in process and finished goods, consumable stores and spares, packing
material, etc., both present and future All tangible/
intangible movable properties and assets of the company including plant and
machinery, furniture, articles, office equipments, computers, etc., both
present and future All present and
future book debts, outstanding, moneys, receivables, claims, bills, etc. All piece and
parcel of Non Agricultural land bearing S. No. 179/1, 179/2, 181/1, 181/2,
182 together admeasuring 47450 sq. mtrs at Kalana, Sanand, Ahmedabad
belonging to director, Jaydeepsinh Vaghela All piece and
parcel of Land bearing S. No. 169/ paiki, 171/1 and 171/3 paiki together
admeasuring 25,118 sq. mtrs at Kalana, Sanand, Ahmedabad belonging to the
Company. |
|
Whether any of
the property or interest therein under reference is not registered in the
name of the company. |
Yes |
|
If yes, in whose
name it is registers |
One of the
properties is owned by Mr. Jaydeepsinh Vaghela |
|
Date of instrument
modifying the charge |
16.03.2012 |
|
Particulars of
the present modification |
Vide present
modification, additional facilities of Rs. 97.225 Millions (Cash Credit - Rs.
20.000 Millions, Term loan - Rs. 75.000 Millions and Forward cover - Rs. 2.225
Millions) have been sanctioned to the
company and the all the assets, movable and immovable, currently provided as
security have been offered as security for the enhanced amount. |
FIXED ASSETS
· Land and Land Development
· Building
· Plant and Machinery
· Office Equipment
· Furniture and Fixture
· Vehicles
· Computers
· Tally 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 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. 54.46 |
|
|
1 |
Rs. 83.12 |
|
Euro |
1 |
Rs. 70.98 |
INFORMATION DETAILS
|
Information Gathered
by : |
JML |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
3 |
|
--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 |
|
27 |
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.