|
Report Date : |
14.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
ASSOCIATED CABLES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2nd Floor, Ajanta House, 35, Marol Co-operative Industrial
Estate, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
27.07.1973 |
|
|
|
|
Com. Reg. No.: |
11-016713 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 61.262
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31300MH1973PTC016713 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA22455G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA2809H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Instrumentation Cable, Control Cables,
Thermocouple Cables and Special Application Cables. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 877000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Profit margin of the company seems to be low. However, general financial position of the company seems to be decent.
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.
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 : |
Mr. Savla |
|
Designation : |
Finance Head |
|
Contact No.: |
91-91-22-40563400 |
|
Date : |
10.12.2013 |
LOCATIONS
|
Registered / Corporate Office : |
2nd Floor, Ajanta House, 35, Marol Co-operative Industrial
Estate, |
|
Tel. No.: |
91-22-40563400 |
|
Fax No.: |
91-22-40563419 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
C-9, MIDC Industrial Estate, Kherdi, Taluka Chiplun, District
Ratnagiri - 415604, Maharashtra, India |
|
Tel. No.: |
91-2355-256336 |
|
Fax No.: |
91-2355-256336 |
|
E-Mail : |
|
|
|
|
|
Representative Office 1 : |
1-67-27/9, Sree Gurudatta Nivas, Plot No. 4, Sector 2, MVP Colony,
Vaizag-530017, Andhra Pradesh, India |
|
Tel No.: |
91-891-2532978 |
|
Fax No.: |
91-891-2544595 |
|
Email: |
|
|
|
|
|
Representative Office 2 : |
1-B, Kachinakuppam, Pillayar Koil Road, Ambattur Industrial Estate,
Chennai-600098, Tamilnadu, India |
|
Email: |
DIRECTORS
AS ON 24.09.2013
|
Name : |
Mr. Manoj Manohar Vaidya |
||||||||||||||||
|
Designation : |
Nominee director |
||||||||||||||||
|
Address : |
A/8, Krishnakunj, Paanchpakadi, Thane - 400602, Maharashtra, India |
||||||||||||||||
|
Date of Birth/Age : |
11.05.1958 |
||||||||||||||||
|
Date of Appointment : |
12.09.2012 |
||||||||||||||||
|
DIN No.: |
01723414 |
||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Nadir Habib Khambatta |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
Sun and Sea Apartments, Flat No. 10A, Near Royal Hotel, Juhu Tara
Road, Mumbai – 400049, Maharashtra, India |
||||||||||||||||
|
Date of Birth/Age : |
26.04.1955 |
||||||||||||||||
|
Date of Appointment : |
12.08.2008 |
||||||||||||||||
|
PAN No.: |
AADPK9198G |
||||||||||||||||
|
DIN No.: |
02141968 |
||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Gerrit Hendrik Hoefman |
||||||||||||||||
|
Designation : |
Nominee director |
||||||||||||||||
|
Address : |
Abel Tasmanlaan 39, 2803 GJ, Gouda, The Netherlands |
||||||||||||||||
|
Date of Birth/Age : |
23.12.1964 |
||||||||||||||||
|
Date of Appointment : |
24.09.2013 |
||||||||||||||||
|
DIN No.: |
06659276 |
||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Frank Franciscus Fred Dorjee |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
Heidelaant JE 3, 1272 PE Huizen, The Netherlands 1272 |
||||||||||||||||
|
Date of Birth/Age : |
02.08.1960 |
||||||||||||||||
|
Date of Appointment : |
12.09.2012 |
||||||||||||||||
|
DIN No.: |
05140307 |
||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Michael Francis Yong Montejo |
||||||||||||||||
|
Designation : |
Nominee director |
||||||||||||||||
|
Address : |
De Noord, 17, 1452 PS Ilpendam 1452 The Netherlands |
||||||||||||||||
|
Date of Birth/Age : |
08.12.1974 |
||||||||||||||||
|
Date of Appointment : |
24.09.2013 |
||||||||||||||||
|
DIN No.: |
06429163 |
||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Mr. Jehangir H Pardiwalla |
||||||||||||||||
|
Designation : |
Alternate director |
||||||||||||||||
|
Address : |
7A/29 Navjivan Society, Lamington Road, Mumbai - 400008, Maharashtra,
India |
||||||||||||||||
|
Date of Birth/Age : |
27.09.1963 |
||||||||||||||||
|
Date of Appointment : |
28.09.2013 |
||||||||||||||||
|
DIN No.: |
03219037 |
||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Savla |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Draka UK Group Limited, England |
|
198385 |
|
Prysmian Treasury (The Netherlands) B.V. (Formerly Draka Treasury
B.V.) |
|
169186 |
|
Oman Cables Industry (SAOG), Oman |
|
245048 |
|
|
|
|
|
Total |
|
612619 |
AS ON 24.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Instrumentation Cable, Control Cables, Thermocouple
Cables and Special Application Cables. |
||||
|
|
|
||||
|
Products/ Services : |
|
GENERAL INFORMATION
|
Customers : |
Oil and Gas Sector · Engineers India Limited Hindustan Petroleum Corporation Limited Bharat Petroleum Corporation Limited Chennai Petroleum Corporation Limited Gas Authority of India Limited Indian Oil Corporation Limited Kochi Refineries Limited Reliance Industries Limited Chemicals and Fertilisers · Gujarat Narmada Valley Fertilizers Company Limited Indian Farmers Fertiliser Co-operative Limited Gujarat State Fertilisers and Chemicals Limited Nagarjuna Fertilizers Limited Meghamani Fine Chemical Limited Rashtriya Chemicals and Fertilizers Coramandel International Limited Power · Nuclear Power Corporation of India Limited National Thermal Power Corporation Kalpataru Power Transmission Limited Bharat Heavy Electrical Limited ThyssenKrupp Industries India Private Limited Consultants and Contractors · Toyo Engineering India Limited Punj Lloyd Limited Invensys India Private Limited Technip KT India Limited OEMs · Honeywell Automation Private Limited Kirloskar Pneumatic Company Limited Larsen & Toubro Automation Limited Air Liquide Engg India Private Limited New Fire Engineers Water Treatment Plants · Va Tech Wabag Limited Driplex Water Engineering Limited Thermax Limited Steel and Cements · Bhushan Steel and Power Limited Jindal Steel and Power Limited JSW Steel Limited ACC Limited Grasim Industries Limited |
|
|
|
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
Bank of Baroda, Vile Parle (East) Branch, Mumbai - 400057, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai –
400028, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFL5878L |
|
|
|
|
Investing Companies
: |
· Draka UK Group Limited, United Kingdom Draka Treasury BV, Netherlands Oman Cables Industry (SAOG), Sultanate of Oman |
|
|
|
|
Enterprise over
which control exists : |
Associated Cables Employees Gratuity Fund |
|
|
|
|
Other related
parties where transactions have taken place during the year : |
Draka Holding NV, Netherlands |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,250,000 |
Equity Shares |
Rs. 100/- each |
Rs. 125.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
612,619 |
Equity Shares |
Rs. 100/- each |
Rs. 61.262
Millions |
|
|
|
|
|
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 |
61.262 |
61.262 |
61.262 |
|
(b) Reserves & Surplus |
158.053 |
153.575 |
153.521 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
219.315 |
214.837 |
214.783 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
5.827 |
12.896 |
20.888 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.982 |
0.682 |
1.143 |
|
Total Non-current
Liabilities (3) |
6.809 |
13.578 |
22.031 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
28.152 |
28.406 |
27.694 |
|
(c)
Other current liabilities |
8.734 |
12.270 |
7.916 |
|
(d) Short-term
provisions |
2.585 |
1.309 |
0.662 |
|
Total Current
Liabilities (4) |
39.471 |
41.985 |
36.272 |
|
|
|
|
|
|
TOTAL |
265.595 |
270.400 |
273.086 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
84.600 |
77.521 |
82.157 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
13.706 |
5.119 |
|
(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) |
2.145 |
1.625 |
1.216 |
|
(d) Long-term Loan and Advances |
4.963 |
5.160 |
3.968 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
91.708 |
98.012 |
92.460 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
52.205 |
62.723 |
47.339 |
|
(c)
Trade receivables |
51.409 |
51.461 |
85.124 |
|
(d) Cash
and cash equivalents |
34.902 |
34.584 |
26.733 |
|
(e)
Short-term loans and advances |
34.516 |
22.008 |
21.097 |
|
(f)
Other current assets |
0.855 |
1.612 |
0.333 |
|
Total
Current Assets |
173.887 |
172.388 |
180.626 |
|
|
|
|
|
|
TOTAL |
265.595 |
270.400 |
273.086 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Net Sales/Income from operations |
539.110 |
437.840 |
396.030 |
|
|
|
Other Income |
8.430 |
9.240 |
15.700 |
|
|
|
TOTAL (A) |
547.540 |
447.080 |
411.730 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
527.550 |
432.890 |
388.090 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
19.990 |
14.190 |
23.640 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.760 |
1.340 |
1.730 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
18.230 |
12.850 |
21.910 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.180 |
12.800 |
13.480 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
5.050 |
0.050 |
8.430 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.050 |
0.000 |
(0.760) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
4.000 |
0.050 |
9.190 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
ADJUSTMENTS |
(0.480) |
0.000 |
0.020 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER ADJUSTMENTS |
4.480 |
0.050 |
9.210 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
392.100 |
109.420 |
226.790 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.31 |
0.09 |
15.04 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.73
|
0.01 |
2.23 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.94
|
0.01 |
2.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.92
|
0.02 |
3.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.00 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.03
|
0.06 |
0.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.41
|
4.11 |
4.98 |
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 |
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 |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90218525 |
01/08/2003 |
10,000,000.00 |
BANK OF BARODA |
VILE PARLE (E) BRANCH, MUMBAI - 400057, MAHARASHTRA, INDIA |
- |
|
2 |
90218496 |
10/02/2003 |
35,000,000.00 |
BANK OF BARODA |
VILE PARLE (E) BRANCH, MUMBAI - 400057, MAHARASHTRA, INDIA |
- |
|
3 |
90217744 |
26/08/2003 * |
6,500,000.00 |
BANK OF BARODA |
VILE PARLE (E) BRANCH, MUMBAI - 400057, MAHARASHTRA, INDIA |
- |
|
4 |
90217634 |
13/07/1998 * |
6,500,000.00 |
BANK OF BARODA |
VILE PARLE (E) BRANCH, MUMBAI - 400057, MAHARASHTRA, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Deferred sales tax liability |
5.827 |
12.896 |
|
|
|
|
|
Total |
5.827 |
12.896 |
CHANGE OF ADDRESS:
The registered office of the company has been shifted from 29, Marol Cooperative Industrial Estate, M. V. Road,
Andheri (East), Mumbai – 400059, Maharashtra, India to present address w.e.f. 20.11.2007
PERFORMANCE:
The Company has achieved net sales of Rs. Rs. 539.110 Millions for the
financial year 2012-13, registering a growth of 23.13% over the previous year.
The Company during the financial year 2012-13, achieved significant
growth in export sales at Rs. Rs. 392.100 Millions registering an increase of
over 2.5 times, while the domestic sales was restricted to Rs. Rs. 147.010
Millions, due to margin pressure. The profit before tax for the financial year
2012-13 is Rs. 5.050 Millions as against a profit of Rs. 0.050 Million during
the previous year.
OPERATIONS:
The domestic economic environment during the year 2012-13 witnessed sluggish
growth in the manufacturing, infrastructure and petrochemical sector, thereby
directly affecting the Company’s sales & margins. The rising oil prices and
unstable rupee further added to increase in input costs and overheads, which
affected margins and thus profitability.
As the Company’s export sales have increased, it is exposed to the risk
of price fluctuation on imported raw materials, as well as currency
fluctuations on exports. It proactively manages risks in input costs of
imported raw material through timely raw material price fixing, and through
forward booking of currency contracts against export receipts.
The Company achieved a significant milestone by getting IMS
Certification during the year from TUV SUD for ISO 9001:2008, ISO 14001:2004
and BS OHSAS 18001:2007 thereby further adding to its value proposition.
FUTURE OUTLOOK:
As a next step the Company will make investments to expand capacity to
increase its export business while focusing selectively on good margin domestic
business. The Company will therefore continue to make Capex investments to
expand its volume of business.
The Company is confident of India’s long term economic growth, and
therefore foresee good prospects for the Company, with enhanced capacity.
FIXED ASSETS:
· Land
Buildings
Factory
building
Plant
and equipment
Factory
equipments
Furniture
and fixtures
Vehicles
Motor
vehicles
Office
equipment
Other
equipments
Computer
software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market survey
revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.13 |
|
|
1 |
Rs. 101.53 |
|
Euro |
1 |
Rs. 85.41 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.