MIRA
INFORM REPORT
|
Report Date : |
08.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
J. J. Polyplast PRIVATE Limited |
|
|
|
|
Formally Known As : |
J. J. Polyplast Limited |
|
|
|
|
Registered Office : |
C-206, 2nd Floor, Ghatkopar Industrial Estate LBS Marg,
Ghatkopar (west), Mumbai – 400 084, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
20.10.1997 |
|
|
|
|
Com. Reg. No.: |
11-111395 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs.19.320 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U25200MH1997PLC111395 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMJ05531B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACJ4050C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer and Supplier of Dies and Mould. |
|
|
|
|
No. of Employees : |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 234000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. Sales
of the company has increased in 2012 but the profit margin appears to be low.
External borrowing of the company has increased during 2012. However,
trade relations are reported as fair. Business is active. Payment terms are
slow but correct. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
A4+ [Short Terms] |
|
Rating Explanation |
This rating are considered to have minimal degree of safety regarding
timely payment of financial obligations. Such instruments carry very high
credit risk and one susceptible of default.
|
|
Date |
22.02.2012 |
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 DECLINED BY
|
Name : |
Ms. Seema |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-25007155 |
|
Date : |
07.08.2013 |
LOCATIONS
|
Registered Office / Corporate Office: |
C-206, 2nd Floor, Ghatkopar Industrial Estate LBS Marg,
Ghatkopar (west), Mumbai – 400 084, |
|
Tel. No.: |
91-22-25007155 (6 lines) |
|
Fax No.: |
91-22-25007166 |
|
E-Mail : |
|
|
Websites : |
www.jjpolyimpex.co.uk |
DIRECTORS
AS ON 21.09.2012
|
Name : |
Mr. Vijyachandran Govindan Menon |
|
Designation : |
Director |
|
Address : |
303, Building No. 09, Phase 3, Shubharambh Complex, Thane – 400610, |
|
Date of Birth/Age : |
27.04.1970 |
|
Date of Appointment : |
02.09.2005 |
|
Din No.: |
00347937 |
|
|
|
|
Name : |
Mr. Joseph John Parakott |
|
Designation : |
Director |
|
Address : |
1303 / 1304 C |
|
Date of Birth/Age : |
21.03.1970 |
|
Date of Appointment : |
20.10.1997 |
|
Din No.: |
01032342 |
|
|
|
|
Name : |
Mr. Sanjesh Jinnalal Jain |
|
Designation : |
Additional Director |
|
Address : |
6/7, Pankaj Apartments, Near LVM School, Kotnis Marg, Mahim, Mumbai –
400016, Maharashtra, India |
|
Date of Birth/Age : |
12.09.1972 |
|
Date of Appointment : |
10.06.2010 |
|
Din No.: |
02436515 |
|
ID Card No.: |
CMB0364919 |
KEY EXECUTIVES
|
Name : |
Ms. Seema |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 21.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Joseph John Parakott |
|
897310 |
|
Rosamma Parakott |
|
35500 |
|
Vijayachandran Govindan Menon |
|
105000 |
|
John Parakott |
|
11000 |
|
Alekutty Parakott |
|
10000 |
|
Nilesh Vijaykumar Kadam |
|
30000 |
|
Margaret Nilesh Kadam |
|
25000 |
|
Triloksingh Mehta |
|
50500 |
|
Hemantkumar P. Jain |
|
75690 |
|
Suneeta Hemantkumar Jain |
|
15000 |
|
J. N. Kant Dye Chem Private Limited, India |
|
15000 |
|
Shree Venkatesh Chem Colour, India |
|
5000 |
|
Parakkott Investment India Private Limited, India |
|
1225000 |
|
|
|
|
|
TOTAL
|
|
2500000 |
AS ON 21.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
49.80 |
|
Directors
or relatives of directors |
|
44.55 |
|
Other
top fifty shareholders |
|
5.65 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Dies and Mould. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|||||||||||||||||||||
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|
|||||||||||||||||||||
|
Bankers : |
·
Union bank
of India, Mumbai Samachar Marg Branch, 66/80, Mumbai Samachar Marg, Fort,
Mumbai - 400023, Maharashtra, India ·
The Saraswat Co-Operative Bank Limited, Ghatkopar
Branch, Ghatkopar, Mumbai – 400086, Maharashtra, India |
|||||||||||||||||||||
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|
|||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Devarajan and Company Chartered Accountants |
|
Address : |
408, Anurag Business Centre, Near Cinema, Chembur, Mumbai – 400 071,
Maharashtra, India |
|
Tel. No.: |
91-22-67655509 |
|
Fax No.: |
91-22-67655510 |
|
E-Mail : |
|
|
PAN No: |
AAEFR0229A |
|
|
|
|
Associates |
·
Aishwarya Plast Exports Private Limited ·
K.K. Products ·
J.J. Poly Impex Private Limited |
|
|
|
|
Other Related Parties : |
Parakkott
Investments India Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
25.000 |
19.320 |
|
(b) Reserves & Surplus |
|
33.546 |
26.114 |
|
(c) Money received
against share warrants |
|
0.000 |
5.680 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
|
58.546 |
51.114 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
|
0.154 |
0.579 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.154 |
0.579 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
361.970 |
201.638 |
|
(b)
Trade payables |
|
31.157 |
26.897 |
|
(c)
Other current liabilities |
|
18.925 |
18.233 |
|
(d) Short-term
provisions |
|
0.574 |
0.093 |
|
Total Current
Liabilities (4) |
|
412.626 |
246.861 |
|
|
|
|
|
|
TOTAL |
|
471.326 |
298.554 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
2.780 |
3.256 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.557 |
0.557 |
|
(c) Deferred tax
assets (net) |
|
0.123 |
0.130 |
|
(d) Long-term Loan and Advances |
|
3.543 |
3.457 |
|
(e) Other
Non-current assets |
|
0.000 |
0.622 |
|
Total Non-Current
Assets |
|
7.003 |
8.022 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
1.000 |
0.000 |
|
(b)
Inventories |
|
128.393 |
122.253 |
|
(c)
Trade receivables |
|
212.684 |
97.441 |
|
(d) Cash
and cash equivalents |
|
50.208 |
20.702 |
|
(e)
Short-term loans and advances |
|
72.038 |
49.893 |
|
(f)
Other current assets |
|
0.000 |
0.243 |
|
Total
Current Assets |
|
464.323 |
290.532 |
|
|
|
|
|
|
TOTAL |
|
471.326 |
298.554 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
9.320 |
|
|
2] Share Application Money |
|
|
9.806 |
|
|
3] Reserves & Surplus |
|
|
21.840 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
40.966 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
64.740 |
|
|
2] Unsecured Loans |
|
|
2.765 |
|
|
TOTAL BORROWING |
|
|
67.505 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
108.471 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
3.872 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.530 |
|
|
DEFERREX TAX ASSETS |
|
|
0.076 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
71.873
|
|
|
Sundry Debtors |
|
|
25.043
|
|
|
Cash & Bank Balances |
|
|
19.905
|
|
|
Other Current Assets |
|
|
12.500
|
|
|
Loans & Advances |
|
|
79.575
|
|
Total
Current Assets |
|
|
208.896 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
96.978
|
|
|
Other Current Liabilities |
|
|
2.775
|
|
|
Provisions |
|
|
5.154
|
|
Total
Current Liabilities |
|
|
104.907 |
|
|
Net Current Assets |
|
|
103.989 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.004 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
108.471 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1390.808 |
881.115 |
585.940 |
|
|
|
Other Income |
NA |
1.411 |
5.500 |
|
|
|
TOTAL |
NA |
882.526 |
591.440 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
832.866 |
552.899 |
|
|
|
Payments to and Provision for Employees |
|
7.661 |
6.740 |
|
|
|
Sales and Distributions Expenses
|
|
2.874 |
1.874 |
|
|
|
Establishment / other Expenses |
|
12.361 |
5.653 |
|
|
|
Preliminary Expenses Written Off |
|
0.004 |
0.005 |
|
|
|
TOTAL |
NA |
855.766 |
567.171 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
26.760 |
24.269 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
20.011 |
19.659 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
12.114 |
6.749 |
4.610 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.541 |
0.578 |
0.896 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE PROFIT
IN PARTNERSHIP FIRM (K. K. PRODUCTS) |
0.000 |
6.171 |
3.714 |
|
|
|
|
|
|
|
|
|
Add |
PROFIT IN
PARTNERSHIP FIRM (K. K. PRODUCTS) |
0.000 |
0.000 |
1.146 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
11.573 |
6.171 |
4.860 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.037 |
1.962 |
1.319 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
7.536 |
4.209 |
3.541 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
21.840 |
18.299 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Excess Provision for Income Tax |
NA |
0.064 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
26.113 |
21.840 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
428.117 |
269.659 |
|
|
TOTAL IMPORTS |
NA |
428.117 |
269.659 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
- Basic |
2.97 |
3.11 |
3.80 |
|
|
|
- Diluted |
2.97 |
2.85 |
3.79 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
0.48 |
0.60 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.83
|
0.70 |
0.83 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.45
|
2.07 |
2.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.12 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
6.19
|
3.95 |
1.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13
|
1.17 |
1.99 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF LONG TERM DEBT: NOT
AVAILABLE
|
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
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 |
No |
|
34] |
External Agency Rating, if available |
Yes |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10378204 |
03/01/2013 * |
117,500,000.00 |
STANDARD
CHARTERED BANK |
SME CREDIT, CRESCENZO,
3A/F, PLOT NO. C-38 AND 39, |
B66953076 |
|
2 |
10339548 |
04/02/2012 |
50,000,000.00 |
UNION BANK OF
INDIA |
MUMBAI SAMACHAR MARG
BRANCH,, 66/80,MUMBAI SAMACHAR MARG, FORT, MUMBAI- 400023, MAHARASHTRA, INDIA |
B33850793 |
|
3 |
90152119 |
09/03/2002 |
5,000,000.00 |
UNION BANK OF
INDIA |
MUMBAI SAMACHAR
MARG BRANCH,, 66/80,MUMBAI SAMACHAR MARG, FORT, MUMBAI- 400023, MAHARASHTRA, INDIA |
- |
|
4 |
80032274 |
08/09/2012 * |
367,500,000.00 |
UNION BANK OF
INDIA |
MUMBAI SAMACHAR
MARG BRANCH,, 66/80,MUMBAI SAMACHAR MARG, FORT, MUMBAI- 400023, MAHARASHTRA,
INDIA |
B58405838 |
|
5 |
80032273 |
08/09/2012 * |
367,500,000.00 |
UNION BANK OF
INDIA |
MUMBAI SAMACHAR
MARG BRANCH,, 66/80,MUMBAI SAMACHAR MARG, FORT, MUMBAI- 400023, MAHARASHTRA,
INDIA |
B58505439 |
|
6 |
90150896 |
18/06/2001 |
1,500,000.00 |
UNION BANK OF
INDIA |
MUMBAI SAMACHAR MARG
BRANCH,, 66/80,MUMBAI SAMACHAR MARG, FORT, MUMBAI- 400023, MAHARASHTRA, INDIA |
- |
|
7 |
90152082 |
18/06/2001 |
12,500,000.00 |
UNION BANK OF
INDIA |
MUMBAI SAMACHAR
MARG BRANCH,, 66/80,MUMBAI SAMACHAR MARG, FORT, MUMBAI- 400023, MAHARASHTRA,
INDIA |
- |
|
* Date of charge modification |
||||||
|
Unsecured Loan |
As
on 31.03.2012 [Rs.
in Millions] |
As
on 31.03.2011 [Rs.
in Millions] |
|
Short Term
Borrowings |
|
|
|
Loans repayable on demand from others |
30.740 |
4.633 |
|
Loans and advances from related parties |
8.645 |
11.260 |
|
TOTAL
|
39.385 |
15.893 |
OPERATIONS DURING THE YEAR:
The Company has
achieved a top line of Rs 1390.800 Millions, an increase of 58% over the previous
year and after provision for taxation managed to add Rs. 7.536 Millions to its
kitty as reserves. The current year net profit of Rs. 7.536 Millions is an
increase of 79% when compared to the previous year figure of Rs.4.209 Millions.
The Company continues to be successful in consolidating the gains over previous
year and hopes to improve its presence in the market still further.
PROSPECTS:
The current era in
polymer consumption has undergone a sea change throughout India. The concept of
Malls has led to phenomenal increase in consumption of polymers for packaging
purpose. Moreover, polymer has made inroads into many new areas of human life.
The per capita consumption of plastic in India is around 6 kgs and it is likely
to touch the world average of 24 kgs by end of next decade. This phenomenal
growth in terms of consumption has led to severe shortage in domestic market
and hence import of polymers continue to move in a great pace. The Company is
likely to touch Rs. 1700.000 Millions in top line in the current financial year
and looks forward to accelerated growth.
FIXED ASSETS:
·
Computers
·
Office Equipments
·
Furniture and Fixtures
·
Vehicles
·
Office Premises
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.61.39 |
|
|
1 |
Rs.94.17 |
|
Euro |
1 |
Rs.81.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.