MIRA INFORM REPORT
|
Report Date : |
30.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
HIND ALUMINIUM
INDUSTRIES LIMITED (w.e.f. 07.09.2007) |
|
|
|
|
Formerly Known
As : |
ASSOCIATED PROFILES AND ALUMINIUM LIMITED |
|
|
|
|
Registered
Office : |
B-1, Tulsi Vihar, Dr. Annie Besant Road, Worli Naka, Mumbai – 400018,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
12.05.1987 |
|
|
|
|
Com. Reg. No.: |
11-043472 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.63.002 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L28920MH1987PLC043472 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Muma20110g |
|
|
|
|
PAN No.: [Permanent Account No.] |
Aaaca4671q |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of Aluminium Wires and Conductors |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1800000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
Trade relations are reported to be fair. Business is active. Payments are
reported to be usually correct 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB+ (Term Loan) |
|
Rating Explanation |
Having moderate degree of safety regarding
timely servicing of financial obligation. It carry moderate credit risk. |
|
Date |
January 2013 |
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 : |
B-1, Tulsi Vihar, Dr. Annie Besant Road, Worli Naka, Mumbai – 400018,
Maharashtra, India |
|
Tel. No.: |
91-22-24945178/ 40457100/ 24971237 |
|
Fax No.: |
91-22-24936888/ 24903573 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Wind Turbine Generations 1 : |
Gut N0.59-1/A, Village; Akhtwade, District
Nandurbar, Maharashtra, India 2. (Maharashtra). |
|
|
|
|
Wind Turbine
Generations 2 : |
Location No. 275, Survey No.818 of Village
Narasewadi, Taluka Tasgaon, District Sangli, Maharashtra, India |
|
|
|
|
Factory : |
Survey No.1/2, Village Khutali, Khanvel -
Doodhani Road, Near Khanvel, District Silvassa – 396230, Dadra and Nagar
Haveli (Union Territory) |
|
Tel. No.: |
91-260-2677343/ 3252444/ 3203060 |
|
Fax No.: |
91-260-2677361 |
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E-Mail : |
|
|
|
|
|
Minerals Division |
5, Aishwarya
Residency, G.E. Road, Telebandha, Raipur – 492001, Chhattisgarh, India |
DIRECTORS
As on: 31.08.2012
|
Name : |
Mr. Lalit Kumar Daga |
|
Designation : |
Chairman |
|
Address : |
5-B, Purshottam Bhavan, Little Gibbs Road, Mumbai - 400006,
Maharashtra, India |
|
Date of Birth/Age : |
10.10.1942 |
|
Date of Appointment : |
12.05.1987 |
|
Qualification : |
B Com |
|
PAN No.: |
APTPD1808K |
|
DIN No.: |
00089905 |
|
|
|
|
Name : |
Mr. Shailesh Daga |
|
Designation : |
Managing Director |
|
Address : |
5-B, Purshottam Bhavan, Little Gibbs Road, Mumbai - 400006,
Maharashtra, India |
|
Date of Birth/Age : |
19.03.1968 |
|
Date of Appointment : |
12.05.1987 |
|
Qualification : |
MBA |
|
PAN No.: |
AFDPD9153P |
|
DIN No.: |
00074225 |
|
|
|
|
Name : |
Mr. Sudhir Goel |
|
Designation : |
Director |
|
Address : |
301-B, Sanjeev Enclave, 7 Bunglow, Versova, Andheri (West), Mumbai -
400 026, Maharashtra, India |
|
Date of Birth/Age : |
20.07.1949 |
|
Date of Appointment : |
12.05.1987 |
|
Qualification : |
FCA |
|
DIN No.: |
00074455 |
|
|
|
|
Name : |
Mr. Navin Shah |
|
Designation : |
Director |
|
Address : |
14, Gulistan, Carmichel Road, Mumbai - 400 026, Maharashtra, India |
|
Date of Birth/Age : |
06.07.1941 |
|
Date of Appointment : |
04.06.2001 |
|
DIN No.: |
01193927 |
|
|
|
|
Name : |
Mr. Sundeep Mohta |
|
Designation : |
Director |
|
Address : |
23, |
|
Date of Birth/Age : |
03.03.1970 |
|
Date of Appointment : |
10.06.2003 |
|
DIN No.: |
00426001 |
|
|
|
|
Name : |
Mr. Narayan Das Mundhra |
|
Designation : |
Director |
|
Address : |
Flat No.3-A, Gyan Apartments, Old No.19, New No.38, Venkatraman, T. Nagar,
Chenna - 600017, Tamilnadu, India |
|
Date of Birth/Age : |
30.04.2009 |
|
Date of Appointment : |
05.10.1955 |
|
DIN No.: |
02634287 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 31.12.2012
|
Category of Shareholders |
No.
of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1834326 |
29.12 |
|
|
1988592 |
31.56 |
|
|
3822918 |
60.68 |
|
|
|
|
|
Total shareholding
of Promoter and Promoter Group (A) |
3822918 |
60.68 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
479380 |
7.61 |
|
|
|
|
|
|
1133836 |
18.00 |
|
|
807444 |
12.82 |
|
|
56622 |
0.90 |
|
|
56144 |
0.89 |
|
|
478 |
0.01 |
|
|
2477282 |
39.32 |
|
Total Public
shareholding (B) |
2477282 |
39.32 |
|
Total (A)+(B) |
6300200 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
6300200 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Aluminium Wires and Conductors |
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Wire Rod Plant |
MT |
25000 |
11269.301 |
|
Conductors |
MT |
12000 |
1699.547 |
|
Wind Turbine Generator |
KW |
2750 |
- |
|
Conversion of
other Materials |
|
|
|
|
- Wire rod |
MT |
--- |
7504.833 |
|
- Conductors |
MT |
--- |
4758.729 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
|||||||||||||||
|
Bankers : |
State Bank of India, Mid Corporate Branch, 1st Floor, Shanti Complex, GIDC, Vapi - 396195, Gujarat, India |
|||||||||||||||
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|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A J Baliya and Associates Chartered Accountants
|
|
Address : |
1, Gala Towers, B B Marg, Chinchpokli (East), Mumbai - 400 012,
Maharashtra, India |
|
PAN No.: |
AAAFA8300P |
|
|
|
|
Associates : |
CIN No.: U27203MH1972PTC015684
CIN No.:U27100MH1981PTC025074
CIN No.:U32201GJ1980PTC003950
CIN No.:L51900MH1985PLC036668
CIN No.:U25200MH1970PTC014899
CIN No.:U65990MH1994PTC083320 |
|
|
|
|
Subsidiary Company
: |
Hind Power Products Private Limited CIN No.:U28133MH2011PTC218026 |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6500000 |
Equity Shares |
Rs.10/- each |
Rs.65.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6300200 |
Equity Shares |
Rs.10/- each |
Rs.63.002 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 |
63.002 |
63.002 |
50.002 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
410.652 |
355.614 |
273.185 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
473.654 |
418.616 |
323.187 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
609.645 |
538.355 |
267.591 |
|
|
2] Unsecured Loans |
92.498 |
77.722 |
0.000 |
|
|
TOTAL BORROWING |
702.143 |
616.077 |
267.591 |
|
|
DEFERRED TAX LIABILITIES |
33.509 |
43.634 |
44.831 |
|
|
|
|
|
|
|
|
TOTAL |
1209.306 |
1078.327 |
635.609 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
214.777 |
221.913 |
228.507 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
30.102 |
3.474 |
3.475 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
140.994
|
350.472 |
108.303
|
|
|
Sundry Debtors |
706.292
|
557.990 |
238.181
|
|
|
Cash & Bank Balances |
206.268
|
91.256 |
40.441
|
|
|
Other Current Assets |
18.840
|
9.415 |
0.000
|
|
|
Loans & Advances |
94.684
|
94.640 |
127.369
|
|
Total
Current Assets |
1167.078
|
1103.773 |
514.294 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
145.179
|
197.709 |
87.671
|
|
|
Other Current Liabilities |
46.489
|
41.963 |
14.222
|
|
|
Provisions |
10.983
|
11.161 |
8.775
|
|
Total
Current Liabilities |
202.651
|
250.833 |
110.668 |
|
|
Net Current Assets |
964.427
|
852.940 |
403.626
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1209.306 |
1078.327 |
635.609 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4072.891 |
3611.701 |
1835.236 |
|
|
|
Other Income |
33.204 |
25.585 |
6.131 |
|
|
|
TOTAL (A) |
4106.095 |
3637.286 |
1841.367 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
3072.750 |
2833.383 |
|
|
|
|
Purchases of stock-in-trade |
561.041 |
685.361 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
124.953 |
(185.690) |
|
|
|
|
Employee benefit expense |
20.561 |
18.005 |
|
|
|
|
Other expenses |
161.815 |
136.466 |
|
|
|
|
TOTAL (B) |
3941.120 |
3487.525 |
1770.664 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
164.975 |
149.761 |
70.703 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
53.558 |
41.935 |
8.044 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
111.417 |
107.826 |
62.659 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
29.357 |
26.953 |
26.402 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
82.060 |
80.873 |
36.257 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
16.039 |
30.288 |
8.917 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
66.021 |
50.585 |
27.340 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
293.312 |
256.227 |
240.162 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
9.400 |
9.400 |
7.500 |
|
|
|
Tax on Dividend |
1.500 |
1.600 |
1.275 |
|
|
|
Transfer to General Reserve |
2.500 |
2.500 |
2.500 |
|
|
BALANCE CARRIED
TO THE B/S |
345.933 |
293.312 |
256.227 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
|
20.457 |
|
|
|
Stores & Spares |
|
|
240.552 |
|
|
TOTAL IMPORTS |
NA |
NA |
261.009 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.48 |
8.03 |
5.47 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2012 1st Quarter |
30.09.2012 2nd Quarter |
31.12.2012 3rd Quarter |
|
|
(UnAudited) |
(UnAudited) |
(UnAudited) |
|
Net Sales |
881.800 |
1219.200 |
1179.600 |
|
Total Expenditure |
830.600 |
1163.300 |
1158.100 |
|
PBIDT (Excl OI) |
51.200 |
55.900 |
21.600 |
|
Other Income |
13.100 |
9.300 |
13.300 |
|
Operating Profit |
64.300 |
65.200 |
34.900 |
|
Interest |
36.300 |
32.100 |
25.300 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
28.000 |
33.100 |
9.600 |
|
Depreciation |
7.600 |
7.700 |
7.600 |
|
Profit Before Tax |
20.400 |
25.400 |
2.000 |
|
Tax |
0.000 |
12.600 |
0.600 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
20.400 |
12.800 |
1.400 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
20.400 |
12.800 |
1.400 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.61 |
1.39 |
1.48
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.01 |
2.24 |
1.98
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.94 |
6.10 |
4.88
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.19 |
0.11
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.48 |
1.47 |
0.83
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.76 |
4.40 |
4.65
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
Intercorporate borrowings |
92.498 |
77.722 |
|
|
|
|
|
Total |
92.498 |
77.722 |
REVIEW OF OPERATIONS
This year the Company has completed 25 years of its existence and during the last 25 years, the Company has shown a continued improvement in its performance.
During the year the Company has shown improved performance. The Company’s total revenue has increased to Rs.4106.100 Millions from Rs.3637.300 Millions in the previous year. The net profit has increased to Rs.66.000 Millions as compared to Rs.50.600 Millions in the previous year.
WIRE RODS AND
CONDUCTORS
In the year gone by the Aluminium Division of the Company has shown an increase in its production as well as in sales. During the years total sale of its products has increased to Rs.4021.300 cores as compared to Rs.3554.500 Millions in the previous year. This has primarily on account of increase in total revenue of Conductors which has gone up from Rs.1047.500 Millions to Rs.1529.400 Millions. The capacity utilization of Conductor Plant is consistently going up and they hope in the current year also they will see significant improvement over the last year.
They are pleased to inform you that the Company has got itself registered with most Electricity Boards in the country. They have successfully supplied to a lot of them and are presently having good orders for the supply of Aluminium Conductors. All these should contribute to an increase in the Aluminium Divisions sales.
MINING BUSINESS
The year 2011-2012 was not a good year for the mining business for the Company. Total traded quantity of Bauxite ore has reduced and its resulted in reduction in its total revenue to Rs.29.300 Millions as compared to total revenue of Rs.38.500 Millions in the previous year. Due to frequent changes in the Govt. policies, the Company has restricted its exposure in mineral business.
WIND POWER GENERATION
The Company has two Wind Turbine Generator (WTG), one is of 1.25 Mega Watts located at District Nandurbar and another is 1.50 Mega Watts located at Sangli, both are in Maharashtra State. Both WTG performance are good and its contributed Rs.22.300 Millions in the total revenue of the Company as compared to Rs.19.000 Millions in the previous year.
During the year a subsidiary Company named Hind Power Products Private Limited has been incorporated under the Companies Act 1956.
FIXED ASSETS
Tangible Assets
- Land
- Buildings
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Office Equipment
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 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.54.28 |
|
|
1 |
Rs.84.23 |
|
Euro |
1 |
Rs.70.90 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.