MIRA
INFORM REPORT
|
Report Date : |
02.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
NOBLE LAMINATES PRIVATE LIMITED (w.e.f. 15.04.2010) |
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Formerly Known
As : |
PARTH WOOD PRIVATE LIMITED |
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Registered
Office : |
104, First Floor, Hiloni Business Centre, Behind Nandni Apartment, Near Harivallabh Society, Ahmedabad – 382330, Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
06.07.1998 |
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Com. Reg. No.: |
04-034348 |
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Capital
Investment / Paid-up Capital : |
Rs.25.000 Millions |
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CIN No.: [Company Identification
No.] |
U20100GJ1998PTC034348 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Laminate Sheets. |
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No. of Employees
: |
40 (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 98000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. There appears accumulated losses recorded by the company during the
financial year 2013. However, trade relations are fair. Business is active. Payments are
slow but correct. The company can be considered for business dealings 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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross domestic
product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
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. Bharat |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-79-22802002 |
|
Date : |
30.11.2013 |
LOCATIONS
|
Registered Office : |
104, First Floor, Hiloni Business Centre, Behind Nandni Apartment, Near Harivallabh Society, Ahmedabad – 382330, Gujarat, India |
|
Tel. No.: |
91-79-22802002/ 22802003/
22817134 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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|
Factory : |
Chandrala, Himmatnagar, Gujarat, India |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Vashrambhai Khimajibhai Patel |
|
Designation : |
Director |
|
Address : |
10, Ample Park, Near Canal, Opposite New Navyug School, Naroda, Ahmedabad – 382330, Gujarat, India |
|
Date of Birth/Age : |
26.11.1933 |
|
Date of Appointment : |
16.07.1998 |
|
DIN No.: |
01589670 |
|
|
|
|
Name : |
Mr. Ganga Ram Patel |
|
Designation : |
Director |
|
Address : |
C-123, Mansarovar Garden, Pritampura, New Delhi – 110015, India |
|
Date of Birth/Age : |
25.12.1945 |
|
Date of Appointment : |
16.07.1998 |
|
DIN No.: |
01303845 |
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|
|
|
Name : |
Mr. Dhansukhbhai Vasharambhai Patel |
|
Designation : |
Additional Director |
|
Address : |
Jogeshwari Saw Mill Compound, Near G.D. High School, Saijpur Bogha, Ahmedabad – 382345, Gujarat, India |
|
Date of Birth/Age : |
26.02.1965 |
|
Date of Appointment : |
27.02.2010 |
|
DIN No.: |
01603322 |
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|
|
|
Name : |
Mr. Kishore Patel |
|
Designation : |
Additional Director |
|
Address : |
C-123, Mansarovar Garden, Pritampura, New Delhi – 110015, India |
|
Date of Birth/Age : |
14.08.1974 |
|
Date of Appointment : |
27.02.2010 |
|
DIN No.: |
02308775 |
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|
|
|
Name : |
Mr. Ketankumar Rameshchandra Thakkar |
|
Designation : |
Director |
|
Address : |
16.B, Sarvodya Co-Operative Housing Society, Jawaharchowk, Maninagar, Ahmedabad – 380008, Gujarat, India |
|
Date of Birth/Age : |
01.10.1972 |
|
Date of Appointment : |
08.03.2011 |
|
DIN No.: |
01643097 |
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|
|
|
Name : |
Mr. Rasikbhai Virjibhai Patel |
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Designation : |
Director |
|
Address : |
3, Vinayak House, Opposite Manglam Cinema, Odhav, Ahmedabad – 382415, Gujarat, India |
|
Date of Birth/Age : |
08.09.1975 |
|
Date of Appointment : |
08.03.2011 |
|
DIN No.: |
03447544 |
KEY EXECUTIVES
|
Name : |
Mr. Bharat |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Vashrambhai Khimjibhai Patel |
|
228000 |
|
Gangaram Hiralal Patel |
|
2000 |
|
Gangaram Patel and Sons HUF |
|
500 |
|
Dhanaram Patel and Sons HUF |
|
3000 |
|
Kantilal Patel and Sons HUF |
|
500 |
|
Kishor Gangaram Patel |
|
196500 |
|
Dhanaram Hiralal Patel |
|
25500 |
|
Kantilal Dhanaram Patel |
|
52500 |
|
Kalpana Kantilal Patel |
|
12000 |
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Kalavati Dhanaram Patel |
|
8500 |
|
Zaverben Gangaram Patel |
|
500 |
|
Dhansukhbhai Vashrmabhai Patel |
|
550500 |
|
Narmadaben Pravinbhai Patel |
|
30000 |
|
Pravinbhai Vashrmabhai Patel |
|
240000 |
|
Prakashbhai Govindbhai Patel |
|
100000 |
|
Jagdish Kanjibhai Patel |
|
120000 |
|
Kanjibhai Ladhabhai Patel |
|
5000 |
|
Navinbhai Virjibhai Patel-HUF |
|
30000 |
|
Popatbhai Parsottambhai Patel |
|
5000 |
|
Rasikbhai Virjibhai Patel |
|
420000 |
|
Rekhaben Navinbhai Patel |
|
20000 |
|
Ketankumar Rameshchandra Thakkar |
|
450000 |
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|
|
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Total |
|
2500000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
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|
|
|
Directors or relatives of directors |
|
100.00 |
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Laminate Sheets. |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users and Merchant Exports |
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No. of Employees : |
40 (Approximately) |
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Bankers : |
The Kalupur Commercial Co-Operative Bank Limited, "Kalupur Bank Bhavan", Near Income Tax Circle, Ashram Road, Ahmedabad - 380014, Gujarat, India Tel. No.: 91-79-27582020 |
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Facilities : |
(Rs.
In Millions)
Notes: Term loan from Bank is secured by first charge by way of mortgage of factory land and building and hypothecation of all plant and machinery and all other fixed assets of the company situated at 1) Block No. 451, 452 and 453 at Village Chandrala, Taluka Dist. Gandhinagar. 2) Hiloni Business Centre, F.P. No 44, T.P.S. No.1 of Mouje Naroda Taluka City. District Ahmedabad. Term loan from Bank is further secured by first charge by way of mortgage of land with present and future construction ther on, situated at Survey No. 491, Bloack No.451 at Chandrala, Taluka District Gandhinagar, belonging jointly by the directors of the company Shri Dhansukhbhai V. Patel, Vashrambhai K. Patel and his son Pravinbhai V. Patel Term loan from Bank is further secured by first charge by way of mortgage of factory land belonging to Shri Dhanaram Hiralal Patel and Pravinbhai V. Patel and present and Future construction of building there on belonging to Mahalaxmi Wood Craft Private Limited situated at Survey No.493 Block No. 453, Village Chandra, Taluka District Gandhinagar. Term loan from bank is further secured by personal guarantee of all directors of the company. Machinery Loan from Kalupur Co-operative Bank Limited is bearing interest @13.00% per annum at present and to be repaid by 60 monthly installment of Rs.0.500 Million each commencing from October, 2012 Secured Loan from Kalupur Co-operative Bank Limited is bearing interest @ 14.00% per annum at present and to be repaid by 60 monthly installment of Rs.0.350 Million each commencing from October, 2012 Secured Loan from Kalupur Co-operative Bank Limited is bearing interest @ 14.00% per annum at present and to be repaid by 60 monthly installment of Rs.0.350 Million each commencing from October,2012 Working capital loan is secured by way of hypothecation of entire stock of raw materials, stores, semi finished and finished goods and all other current assets including book debts and first charge over fixed assets of the company. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Patel Mohan Ramesh and Company Chartered Accountants |
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Address : |
C-20, 2nd Floor, Galaxy Avenue, National Highway-8, Naroda, Ahmedabad – 382330, Gujarat, India |
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Tel. No.: |
91-79-22813383 |
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PAN No.: |
AABFP5408N |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
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|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
25.000 |
25.000 |
0.430 |
|
(b) Reserves & Surplus |
(0.352) |
(0.706) |
(0.185) |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
8.048 |
|
Total Shareholders’
Funds (1) + (2) |
24.648 |
24.294 |
8.293 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
56.114 |
53.334 |
1.375 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.009 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities
(3) |
56.114 |
53.334 |
1.384 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
20.342 |
0.000 |
0.000 |
|
(b) Trade payables |
47.929 |
15.836 |
0.000 |
|
(c) Other current liabilities |
12.117 |
6.506 |
7.925 |
|
(d) Short-term provisions |
0.085 |
0.080 |
0.000 |
|
Total Current
Liabilities (4) |
80.473 |
22.422 |
7.925 |
|
|
|
|
|
|
TOTAL |
161.235 |
100.050 |
17.602 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
71.197 |
69.622 |
8.719 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.194 |
0.000 |
7.543 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.760 |
0.760 |
0.000 |
|
(c) Deferred tax assets (net) |
0.734 |
0.237 |
0.000 |
|
(d) Long-term Loan and Advances |
0.727 |
0.812 |
0.360 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.396 |
|
Total Non-Current
Assets |
73.612 |
71.431 |
17.018 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
58.847 |
21.273 |
0.000 |
|
(c) Trade receivables |
23.823 |
1.024 |
0.029 |
|
(d) Cash and cash equivalents |
0.829 |
0.346 |
0.555 |
|
(e) Short-term loans and advances |
4.124 |
5.976 |
0.000 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current
Assets |
87.623 |
28.619 |
0.584 |
|
|
|
|
|
|
TOTAL |
161.235 |
100.050 |
17.602 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
96.678 |
2.439 |
|
|
|
|
Other Income |
0.066 |
0.018 |
|
|
|
|
TOTAL (A) |
96.744 |
2.457 |
0.048 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
82.555 |
2.217 |
0.056 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
14.189 |
0.240 |
(0.008) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.549 |
0.384 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.640 |
(0.144) |
(0.008) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.282 |
0.634 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(1.642) |
(0.778) |
(0.008) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.496) |
(0.256) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(1.146) |
(0.522) |
(0.008) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(0.706) |
(0.184) |
(0.176) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(1.852) |
(0.706) |
(0.184) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.46) |
(0.21) |
(0.19) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(1.18) |
(21.25) |
(16.67) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(1.70) |
(31.90) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.03) |
(0.79) |
(0.08) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.07) |
(0.03) |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.10 |
2.20 |
0.17 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09 |
1.28 |
0.07 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG-TERM DEBT DETAILS – 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 |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
No |
|
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 31.03.2013 |
As on 31.03.2012 |
|
LONG-TERM
BORROWINGS |
|
|
|
From Directors and Relatives |
23.831 |
13.264 |
|
SHORT TERM
BORROWING |
|
|
|
Unsecured Deposits |
1.000 |
0.000 |
|
|
|
|
|
Total |
24.831 |
13.264 |
Notes:
Outstanding balance as on the date of balance sheet of unsecured loan from Directors and relatives is payable on demand. Its bearing 15.00% rate of interest per annum.
OPERATIONS
The Revenue from operations during the year is Rs.96.678 Millions (Previous year Rs. 2.439 Millions). Company has incurred net Profit(-Loss) of Rs.(1.146) Millions (Previous year profit(-Loss) of Rs.(0.522) Million after tax.
Note:
The Registered Office of the company has been shifted from Jogeshwari Estate, Saijpur, Ahmedabad – 368345, Gujarat, India to the present address w.e.f. 21.02.2011
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10347566 |
30/11/2012 * |
20,000,000.00 |
THE KALUPUR COMMERCIAL CO-OPERATIVE BANK LTD. |
"KALUPUR BANK BHAVAN", NR. INCOME TAX CIRCLE, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380014, INDIA |
B63734727 |
|
2 |
10320537 |
10/11/2011 |
30,000,000.00 |
THE KALUPUR COMMERCIAL CO-OPERATIVE BANK LTD. |
"KALUPUR BANK BHAVAN", NR. INCOME TAX CIRCLE, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380014, INDIA |
B26570721 |
|
3 |
10318807 |
09/11/2012 * |
91,600,000.00 |
THE KALUPUR COMMERCIAL CO-OPERATIVE BANK LTD. |
"KALUPUR BANK BHAVAN", NR. INCOME TAX CIRCLE, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380014, INDIA |
B62826748 |
* Date of charge modification
FIXED ASSETS
Tangible Assets
· Freehold Land
· Factory Building
· Office Building
· Plant and Machinery
· Saw Mill Machinery
· Computer
· Air Conditioner
· CC TV Camera
· EPABX
· Water Cooler
· Office Furniture
·
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.62.39 |
|
|
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.