MIRA
INFORM REPORT
|
Report Date : |
11.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
BHAGERIA DYE-CHEM LIMITED |
|
|
|
|
Registered
Office : |
A-101, Virwani Industrial Estate, Western Express Highway, Goregaon
(East), Mumbai – 400063, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.07.1989 |
|
|
|
|
Com. Reg. No.: |
11-052574 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.79.628
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24230MH1989PLC052574 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB12715D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB1751C |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Chemicals and Dyes Intermediates. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 920000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating reflects low profitability of the company, moderate networth
and large working capital requirements. However, trade relations are fair. Business is active. Payment terms
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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = BB |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
28.06.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit
risk. |
|
Date |
28.06.2013 |
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 : |
A-101, Virwani Industrial Estate, Western Express Highway, Goregaon
(East), Mumbai – 400063, Maharashtra, India |
|
Tel. No.: |
91-22-40436666/ 29271198 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website: |
|
|
|
|
|
Factory 1 : |
Plot No. 6310, IV Phase, GIDC Industrial Estate, Vapi – 396 195,
Gujarat , India |
|
Tel. No.: |
91-260-2452366/ 24551247 |
DIRECTORS
As on: 31.03.2013
|
Name : |
Mr. Suresh Bhageria |
|
Designation : |
Chairman |
|
Date of Appointment : |
21.12.1994 |
|
Qualification : |
B. Com |
|
PAN No.: |
AABPB0527E |
|
|
|
|
Name : |
Mr. Vinod Bhageria |
|
Designation : |
Managing Director |
|
Date of Birth/Age : |
20.06.1956 |
|
Date of Appointment : |
12.07.1989 |
|
Qualification : |
B. Com |
|
PAN No.: |
AAFPB0891D |
|
|
|
|
Name : |
Mr. Omprakash Anandilal Bubna |
|
Designation : |
Director |
|
Date of Appointment : |
12.07.1989 |
|
Qualification : |
B. Com |
|
PAN No.: |
AABPB0280C |
|
|
|
|
Name : |
Mr. Shyam Chandrabhan Agarwal |
|
Designation : |
Director |
|
Date of Appointment : |
21.010.1994 |
|
Qualification : |
M.S.D.O.M.S (Bom) |
|
PAN No.: |
AALPA3137B |
|
|
|
|
Name : |
Mr. Pradipkumar Shankar Dalvi |
|
Designation : |
Director |
|
Date of Birth/Age : |
26.08.1951 |
|
Date of Appointment : |
01.09.2000 |
|
PAN No.: |
ACIPD3458M |
|
|
|
|
Name : |
Mr. Surendra Shriram Gupta |
|
Designation : |
Director |
|
Date of Birth/Age : |
31.05.1958 |
|
Date of Appointment : |
11.08.2011 |
KEY EXECUTIVES
|
Name : |
Mr. Shrinath Tiwari |
|
Designation : |
Secretary |
|
Date of Appointment : |
26.05.2012 |
|
PAN No.: |
AACPT3138Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Category of Shareholders |
Number of Shares |
Percentage of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
2258537 |
28.36 |
|
|
978212 |
12.28 |
|
|
3236749 |
40.65 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
3236749 |
40.65 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
1316574 |
16.53 |
|
|
|
|
|
|
873533 |
10.97 |
|
|
2363744 |
29.69 |
|
|
172150 |
2.16 |
|
|
170750 |
2.14 |
|
|
1400 |
0.02 |
|
|
4726001 |
59.35 |
|
Total Public shareholding (B) |
4726001 |
59.35 |
|
Total (A)+(B) |
7962750 |
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) |
7962750 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Chemicals and Dyes Intermediates. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Oriental Bank of Commerce, Nariman Point, Mumbai, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
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|
Facilities : |
(Rs.
In Millions)
|
||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sarda and Pareek Chartered Accountants |
|
Address : |
Mahavir
Appartment, 3rd Floor, 598 M. G. Road, Near Suncity Cinema, Vile
Parle (East), Mumbai - 400057, Maharashtra, India |
|
PAN No.: |
AACFS5674A |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
Rs.10/- each |
Rs.80.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7962750 |
Equity Shares |
Rs.10/- each |
Rs.79.628
Millions |
|
|
|
|
|
(i) Rights of Equity
Shareholders
The Company has only one class of Equity Shares having par value of Rs.10/- each. Each holder of equity shares is entitled to one vote per share. In the event of liquidation of the Company, the holder of equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amount to various stakeholders of the company.
(ii) Reconciliation
of the number of shares and amount outstanding at the beginning and at the end
of the reporting period:
|
Particulars |
Opening Balance |
Closing Balance |
|
|
|
|
|
Equity shares with voting rights |
|
|
|
|
|
|
|
Year ended 31 March, 2013 |
|
|
|
- Number of shares |
7962750 |
7962750 |
|
- Amount (Rs‘ in millions) |
796.28 |
796.28 |
iii) Details of
shares held by each shareholder holding more than 5% shares
|
Class of shares / Name of shareholder |
As on 31.03.2013 |
|
|
Number of shares
held |
% holding in that
class of shares |
|
|
Equity shares with
voting rights |
|
|
|
Bhageria Trade Invest Private Limited |
861817 |
10.82% |
|
Vinod Kumar Keshadev Bhageria |
400000 |
5.02% |
(iv) The Company is a standalone company and does not have any holding company.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
79.628 |
79.628 |
34.628 |
|
(b) Reserves & Surplus |
150.867 |
145.646 |
64.985 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
78.750 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
230.495 |
225.274 |
178.363 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.918 |
|
(b) Deferred tax liabilities (Net) |
4.487 |
3.502 |
5.781 |
|
(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) |
4.487 |
3.502 |
6.699 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
90.937 |
106.696 |
123.319 |
|
(b) Trade payables |
186.186 |
124.802 |
70.535 |
|
(c) Other current
liabilities |
19.038 |
13.343 |
17.361 |
|
(d) Short-term provisions |
1.032 |
0.646 |
0.997 |
|
Total Current Liabilities (4) |
297.193 |
245.487 |
212.212 |
|
|
|
|
|
|
TOTAL |
532.175 |
474.263 |
397.274 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
44.220 |
45.531 |
49.689 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Fixed assets held for sale |
1.716 |
1.716 |
1.716 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.070 |
0.070 |
1.746 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
46.006 |
47.317 |
53.151 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
120.812 |
78.038 |
49.816 |
|
(c) Trade receivables |
240.631 |
166.720 |
236.604 |
|
(d) Cash and cash
equivalents |
13.984 |
70.679 |
16.806 |
|
(e) Short-term loans and
advances |
106.073 |
108.864 |
32.285 |
|
(f) Other current assets |
4.669 |
2.645 |
8.612 |
|
Total Current Assets |
486.169 |
426.946 |
344.123 |
|
|
|
|
|
|
TOTAL |
532.175 |
474.263 |
397.274 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
1292.282 |
628.401 |
616.233 |
|
|
|
Other Income |
2.574 |
2.665 |
1.565 |
|
|
|
TOTAL (A) |
1294.856 |
631.066 |
617.798 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
833.876 |
384.536 |
346.413 |
|
|
|
Purchase of stock-in-trade |
120.487 |
185.676 |
189.993 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
25.310 |
(34.350) |
(11.021) |
|
|
|
Employee benefit expenses |
13.755 |
10.409 |
12.261 |
|
|
|
Other expenses |
261.901 |
68.943 |
39.731 |
|
|
|
TOTAL (B) |
1255.329 |
615.214 |
51.992 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
39.527 |
15.852 |
40.421 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
14.581 |
14.491 |
9.628 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
24.946 |
1.361 |
30.793 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.264 |
8.030 |
6.824 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
17.682 |
(6.669) |
23.969 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.057 |
(1.958) |
14.939 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
12.625 |
(4.711) |
9.030 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.843 |
4.182 |
0.497 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
6.370 |
3.981 |
4.155 |
|
|
|
Corporate Tax on Proposed Dividend |
1.033 |
0.646 |
0.690 |
|
|
|
Transfer to / (From) General Reserve |
0.000 |
(7.000) |
0.500 |
|
|
BALANCE CARRIED
TO THE B/S |
7.065 |
1.843 |
4.182 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods calculated on FOB basis |
465.412 |
344.867 |
321.557 |
|
|
TOTAL EARNINGS |
465.412 |
344.867 |
321.557 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
136.477 |
62.324 |
95.330 |
|
|
TOTAL IMPORTS |
136.477 |
62.324 |
95.330 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
1.59 |
(0.82) |
2.61 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2013 |
30.09.2013 |
|
|
|
1st Quarter |
2nd Quarter |
|
Net Sales |
|
497.500 |
887.900 |
|
Total Expenditure |
|
471.000 |
853.500 |
|
PBIDT (Excl OI) |
|
26.500 |
34.400 |
|
Other Income |
|
0.600 |
01.200 |
|
Operating Profit |
|
27.100 |
35.500 |
|
Interest |
|
3.200 |
4.600 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
24.000 |
30.900 |
|
Depreciation |
|
1.800 |
1.900 |
|
Profit Before Tax |
|
22.200 |
29.000 |
|
Tax |
|
6.500 |
7.700 |
|
Provisions and contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
15.700 |
21.300 |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
15.700 |
21.300 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.97
|
(0.75) |
1.46 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.37
|
(1.06) |
3.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.32
|
(1.41) |
6.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
(0.03) |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.39
|
0.47 |
0.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.64
|
1.74 |
1.62 |
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 |
No |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
OPERATIONS:
During the year, the company has performed very well with the total income increasing more than 100% and also showing significant rise in profitability. Company achieved total income of 1294.856 Millions against 631.066 Millions in previous year and reported a profit of 12.625 Millions as against a net loss of 4.711 Millions in previous year.
BUSINESSOVERVIEW:
The main business of the Company is manufacturing and sale of Chemicals, Dyes, Dyes Intermediates required for Dye manufacturers. The Company is also engaged in merchant export of related items.
INDUSTRYSTRUCTURE,
OPPORTUNITIES, THREATS, RISKS, CONCERNS AND OUTLOOK:
The Indian economy has been more sluggish, but they are hopeful that the new initiatives by the government of India, to bolster growth and attract investment will have encouraging results. The roller coaster ride of Indian economy turned on downward slope in the last couple of years. Factors like unmanageable inflation, higher cost of commodities, unprecedented depreciation of Indian rupee against US dollar, reined in liquidity and inflated cost of borrowing tested the much talked about strong fundamentals of Indian economy.
During the year the company's sales increased by more than 100%. However, the general outlook with respect to the Industry in India is of caution under immense competitive pressure.
PERFORMANCE OF THE
COMPANY:
During the year, sales of the Company increased by more than 100%, resulting in net profit of 12.625 Millions during the current financial year.
Their commitment is to strategically plan and coordinate their Company's activities to be an effective low cost source of supply, while maintaining the required quality of the product. Over a period of time they have identified new opportunities and developed their product line with their own indigenous technology, such that they can customize their offer to meet the unique needs of their customers.
Chemicals are an indispensable part of human life and they hope that their commitment will continue to drive the Company, as they move towards the 21st century.
FINANCIALPERFORMANCE:
The highlights of the financial performance of the Company for the year are as under:
a. The Company has earned a profit of 12.625 Millions.
b. The Company spent 5.953 Millions on Capital Expenditure during the year.
c. The Investment in Working Capital was 188.974 Millions
d. The Term Borrowings decreased by 15.759 Millions
e. The Company is paying dividend continuously since 1993-94.
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90229694 |
16/11/2012 * |
165,000,000.00 |
Oriental Bank of Commerce |
Overseas Branch, Dalamal Towers, 211 Nariman Point, Mumbai, Maharashtra -400021, INDIA |
B65561169 |
* Date of charge modification
FIXED ASSETS:
· Land and Buildings
· Plant and Equipments
· Furniture and Fixture
· Vehicles
· Office Equipments
·
Computer
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.61.21 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.84.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.