MIRA INFORM REPORT
|
Report Date : |
30.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Formerly Known
As : |
ESSEN TELECOMMUNICATIONS PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
B – 404, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
27.12.1984 |
|
|
|
|
Com. Reg. No.: |
04-007533 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 18.401 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32201GJ1984PTC007533 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMI00588A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Trader and Importer of Bar Coding and
Communication Equipments. |
|
|
|
|
No. of Employees
: |
300 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 402000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track. The
management of the company has not filed its latest financial i.e. 2011-2012 with
government department. From the financial of 2011 it seems that the company
is progressing well. 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.
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.
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 DENIED BY
|
Name : |
Mr. Rakesh Shah |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-79-30512000 |
|
Date : |
29.08.2013 |
LOCATIONS
|
Registered / Corporate Office : |
B – 404, |
|
Tel. No.: |
91-79-30013333 |
|
Fax No.: |
91-79-30013300 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
300 sq. ft |
|
Location : |
Rented |
|
|
|
|
Logistics and Support Centre / Factory : |
B/20, GIDC Electronic Estate, Sector – 25, Gandhinagar – 382044, |
|
Tel. No.: |
91-79-30512000 |
|
Fax No.: |
91-79-30512010 |
|
E-Mail : |
|
|
Area : |
4000 sq. ft |
|
Location : |
Owned |
|
|
|
|
Branch Office : |
Located At:
|
DIRECTORS
AS ON 26.09.2011
|
Name : |
Mr. Sameer Shashikant Parekh |
|
Designation : |
Managing Director |
|
Address : |
111, Rambha, |
|
Date of Birth/Age : |
23.11.1963 |
|
Qualification : |
M.S. |
|
Experience : |
24 Years |
|
Date of Appointment : |
28.09.1987 |
|
DIN : |
00010159 |
|
|
|
|
Name : |
Mr. Chetankumar Hasmukh Turakhia |
|
Designation : |
Director |
|
Address : |
B – 83, Tirthbhumi Apartments, Near Gajjar Hall, Law Garden,
Ellisbridge, Ahmedabad – 380006, Gujarat, India |
|
Date of Birth/Age : |
31.12.1965 |
|
Qualification : |
B.E. |
|
Experience : |
22 Years |
|
Date of Appointment : |
16.10.2001 |
|
DIN : |
00030628 |
|
|
|
|
Name : |
Mr. Shashikant Shamjibhai Parekh |
|
Designation : |
Director |
|
Address : |
66-C, Rambha, |
|
Date of Birth/Age : |
13.12.1932 |
|
Date of Appointment : |
02.05.1986 |
|
DIN : |
00030682 |
|
|
|
|
Name : |
Ms. Meeta Hetal Trivedi |
|
Designation : |
Director |
|
Address : |
Plot No.315, Sector – 8, Gandhinagar - 382007, |
|
Date of Birth/Age : |
08.11.1966 |
|
Date of Appointment : |
20.08.2011 |
|
DIN : |
03601532 |
|
|
|
|
Name : |
Mr. Srinivasan Rengacharri
Sudarsana |
|
Designation : |
Director |
|
Address : |
Ajinkyatara Cooperative Housing Society Limited, Flat – 2, Plot – 129,
RSC – 11, WBP-Part-1, Charkop, Kandivali [West], Mumbai – 400067, |
|
Date of Birth/Age : |
29.07.1965 |
|
Date of Appointment : |
20.08.2011 |
|
DIN : |
03602209 |
KEY EXECUTIVES
|
Name : |
Mr. Rakesh Shah |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2011
|
Names of Shareholders [Equity Shares] |
|
No. of Shares |
|
Sameer Shashikant Parekh |
|
94560 |
|
Shashikant Shamjibhai Parekh [HUF] |
|
18000 |
|
Arusha Stock Holdings Private Limited, India |
|
427500 |
|
|
|
|
|
TOTAL
|
|
540060 |
AS ON 26.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
80.00 |
|
Directors
or relatives of directors |
|
20.00 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader and Importer of Bar Coding and
Communication Equipments. |
|
|
|
|
Products: |
Ø
IP Communication Server Ø
ISDN/ IP Based Digital EPABX Ø
Digital ISDN Key Telephone System Ø
Analog Key Telephone Systems Video Conferencing and AV Integration Solutions Ø
High Definition VC Products & Solutions Ø
VC Infrastructure Products and Desktop solutions Ø
Integrated Control & Automation Systems Ø
LFD/LED Displays & Video Wall Solutions Information Technology Ø
Mobile Computers Ø
Barcode Scanners/ Ø
Barcode / RFID Printers Ø
Mobile Printers Ø
High Speed Industrial Laser-Raster/ Image
Scanners Ø
RFID Equipments Ø
Wireless Network Components Software Products Ø
IntelliASSET: Asset Tracking Software Ø
IntelliCAS: Call Accounting Software Ø
IntelliCONSOLL PC Based Consol Ø
IntelliCONTACT: Call Centre Solution Ø
IntelliCONTACT-VL: Voice Loggers Ø
IntelliERS: Emergency Reporting System Ø
IntelliIVRSL Integrated Voice Response System Ø
IntelliMEET: Meet Me Conference Solution Ø
IntelliVMS: Voice Mail Solution Ø
IntelliWMS: Warehouse Management Software |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
No. of Employees : |
300 [Approximately] |
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Bankers : |
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Facilities : |
NOTES:
|
|
|
|
|
Banking
Relations : |
- |
|
|
|
|
Auditors : |
|
|
Name : |
Shreekant
S Shah and Company Chartered
Accountants |
|
Address : |
11, Krishna Apartment, 2nd Floor, Opposite Russian Flats,
Navrangpura, Ahmedabad – 380009, |
|
Tel No.: |
91-79-26425541/ 26441102 |
|
Fax No.: |
91-79-26430843 |
|
Email : |
|
|
Pan No.: |
ACVPS6968C |
|
|
|
|
Holding Company : |
CIN: U65910GJ1988PTC010378 |
|
|
|
|
Other Related Parties : |
|
CAPITAL STRUCTURE
AFTER 26.09.2011
Authorised Capital : Rs. 21.500 Millions
Issued, Subscribed & Paid-up Capital : Rs. 5.401
Millions
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100,000 |
Equity Shares A |
Re.1/- each |
Rs. 0.100 Million |
|
6,900 |
Equity Shares B |
Rs.1000/- each |
Rs. 6.900 Millions |
|
|
|
|
Rs. 7.000
Millions |
|
130,000 |
1% Redeemable Non Cumulative Preference Shares |
Rs.100/- each |
Rs. 13.000 Millions |
|
|
Total |
|
Rs. 20.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
42,600 |
Equity Shares A |
Re.1/- each |
Rs. 0.043 Million |
|
5,358 |
Equity Shares B |
Rs.1000/- each |
Rs. 5.358 Millions |
|
|
|
|
Rs. 5.401
Millions |
|
130,000 |
1% Redeemable Non Cumulative Preference Shares |
Rs.100/- each |
Rs. 13.000 Millions |
|
|
Total |
|
Rs. 18.401
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
18.401 |
18.401 |
18.401 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
82.004 |
40.670 |
35.350 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
100.405 |
59.071 |
53.751 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
121.155 |
107.797 |
120.229 |
|
|
2] Unsecured Loans |
54.198 |
50.411 |
49.098 |
|
|
TOTAL BORROWING |
175.353 |
158.208 |
169.327 |
|
|
DEFERRED TAX LIABILITIES |
4.655 |
4.923 |
5.228 |
|
|
|
|
|
|
|
|
TOTAL |
280.413 |
222.202 |
228.306 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
47.882 |
46.482 |
52.399 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.090 |
1.090 |
1.090 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
95.854
|
74.629
|
79.266
|
|
|
Sundry Debtors |
397.717
|
227.535
|
227.879
|
|
|
Cash & Bank Balances |
7.616
|
7.573
|
5.100
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
37.459
|
32.577
|
25.612
|
|
Total
Current Assets |
538.646
|
342.314
|
337.857
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
212.813 |
126.846 |
124.607 |
|
|
Current Liabilities |
61.812
|
26.963
|
31.034
|
|
|
Provisions |
32.709
|
14.131
|
7.917
|
|
Total
Current Liabilities |
307.334
|
167.940
|
163.558
|
|
|
Net Current Assets |
231.312
|
174.374
|
174.299
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.129 |
0.256 |
0.518 |
|
|
|
|
|
|
|
|
TOTAL |
280.413 |
222.202 |
228.306 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
798.733 |
517.030 |
542.155 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
712.082 |
481.305 |
507.290 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
712.082 |
481.305 |
507.290 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
86.651 |
35.725 |
34.865 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
12.987 |
18.042 |
18.324 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
73.664 |
17.683 |
16.541 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.316 |
6.144 |
5.922 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
67.349 |
11.539 |
10.619 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
24.599 |
4.804 |
5.307 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
42.750 |
6.735 |
5.312 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
37.159 |
32.725 |
29.364 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
General Reserve |
4.274 |
0.885 |
0.535 |
|
|
|
Dividend |
|
|
|
|
|
|
-On Equity Shares |
1.080 |
1.080 |
1.080 |
|
|
|
-On Preference Share |
0.130 |
0.130 |
0.130 |
|
|
|
Tax on Dividend |
0.206 |
0.206 |
0.206 |
|
|
BALANCE CARRIED
TO THE B/S |
74.219 |
37.159 |
32.725 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission received |
0.068 |
0.185 |
0.267 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.92 |
1.25 |
0.98 |
|
|
Particulars |
|
31.03.2013 |
31.03.2012 |
|
Sales Turnover [Approximately] |
|
650.000 |
820.000 |
|
|
|
Due to market
fluctuation |
|
Expected Sales (2013-14) : Rs.1000.000 Millions.
The above information has been parted by Mr. Rakesh Shah.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.35
|
1.30
|
0.98
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.48
|
2.97
|
2.72
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.67
|
0.20
|
0.20
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
4.81
|
5.52
|
6.19
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.75
|
2.04
|
2.07
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF 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 |
Yes |
|
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
five 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 |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10173087 |
29/09/2011 * |
280,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL WEST, MUMBAI- 400013, MAHARASHTRA, INDIA |
B22617542 |
|
* Date of charge modification |
||||||
NOTE:
The Registered Office of the company has been shifted from 48-49 White House,
Near Panchavati Circle, Ellis Bridge, Ahmebabad – 380006, Gujarat, India to the
present address w.e.f 15.09.2006.
REVIEW OF OPERATIONS:
ln the year the
company showed a robust growth of over 50% on a year on year basis riding on
the back of some large deals and banking on the economic turnaround. The
restructuring exercise the company undertook during the year also was a base
for the turnaround with more focus on verticals from each team.
The current year saw
the Company make important breakthrough in the Audio visual integration areas
with large deals from ITI and Mudra bolstering this new business activity. The
legacy businesses and new developments of the previous year still continued
their repeat businesses emphasizing the strong customer relationships we share
with the customers and their continued support to the company. The Defense
forces and corporate customers such as pepsi, LG, Maruti. Nokia reaffirmed
their business to them.
NEW INITIATIVES:
Banking on the
success of the foray into the Sales Force Automat-ton market the previous year
the company focused on this activity and was able to capitalize on the same
with multiple new wins. The defense teams worked on new developments in tandem
with their Telecom partner, Karel, which will help position the company in
rugged zed EPABX requirements of the army. The company partnered with M/s Rolta
to bid for this deal
FUTURE OUTLOOK:
The company has
planned for an ambitious growth of 30% in the coming year riding on the back of
a 50% growth on last year. The year started well with a carryover order book
which would account for 20% of the sales targeted for the year. Additionally
the HR teams have been strengthened with the appointment of a VP (HR) to
address the needs of the company as it has over 300 employees now. The
CONTINGENT
LIABILITY NOT PROVIDED FOR
|
Particulars |
31.03.2011
(Rs.
In Millions) |
31.03.2010
(Rs.
In Millions) |
|
a)Guarantee
given by bank |
|
|
|
Citi bank N.A. |
1.372 |
1.372 |
|
HDFC Bank Limited – Gandhinagar |
16.580 |
9.273 |
|
Bank of |
0.792 |
1.243 |
|
|
|
|
|
b) Excise duty demand [matter under appeal] |
3.929 |
3.929 |
|
|
|
|
|
c) Letter of
Credit |
|
|
|
HDFC Bank Limited – Gandhinagar |
9.530 |
23.606 |
|
Union bank of |
14.355 |
16.568 |
|
|
|
|
|
d) Company has paid and provided liability of VAT, CST and service tax
on the basis of returns filed. No additional provision has been made as same
cannot be ascertained on pending final assessment. |
||
FIXED ASSETS:
- Land - Leasehold
- Building
- Plant and machineries
- Computers
- Office Equipments
- Furniture and fittings
- Misc Tools
- Testing HGS
- Vehicles
- Block equipment on lease (MTNL)
- Electric Installation
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.67.70 |
|
|
1 |
Rs.105.14 |
|
Euro |
1 |
Rs.90.03 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLV |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
42 |
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.