MIRA
INFORM REPORT
|
Report Date : |
24.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
BANKIM PLAST PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
601, Bhakti Park, R.H.B. Marg, Mulund (West), Mumbai – 400080,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
06.07.1992 |
|
|
|
|
Com. Reg. No.: |
11-067551 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.110 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH1992PTC067551 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB06913E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Master Batches (use in plastic colouring) |
|
|
|
|
No. of Employees
: |
33 (Approximately) (In Office = 1, In Factory = 20 and In Branches =
12) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 45000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. There appears a drastic dip in the net profitability during 2013. External
borrowing appear to be above average which may act as a threat to the
liquidity position. However, trade relations are fair. Business is active. Payment terms
are reported as 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
Uptick in agriculture
and construction spread some cheer as the economy grew a higher-than-expected
4.8 % in the three months through September. Manufacturing rose an annual rate
per cent during the quarter and mining fell by 0.4 %, government data showed
while farm output rose 46%.
India has emerged as
the most attractive investment destination, thanks to a relaxation in foreign
direct investment norms, says a report. India is followed by Brazil and China
in the ranking part of EY’s Capital Confidence Barometer report based on a
survey across 70 nations. The US, France and Japan have emerged as the top
three investors likely to invest in India.
India has been
ranked 83rd globally in terms of talent competitiveness of its human
capital. Switzerland, Singapore, Denmark, Sweden and Luxembourg are the
top five in the list of 103 nations compiled by INSEAD business school.
Tax rates for
companies in India are among the highest in the world and the number of
payments is also more than the global average putting the country at low, 158th
rank on the Paying Taxes. 2014 list by the World Bank and PWC. However, the
time taken for tax payments is relatively less in India which is rated ahead of
China and Japan.
1 billion smartphone
shipments in 2013, a 39.3 % growth over 2012. This was being driven by low cost
computing in emerging markets. By 2017, total smartphone shipments are expected
to approach 1.7 billion units, resulting in a compound annual growth rate of
18.4 % between 2013 and 2017, according to research from IDC.
20 % vacancy rate of
office space in Mumbai and Delhi in the third quarter, the highest in Asia
after Chengdu, in China. According to Cushman and Wakefield, six Indian cities
are among the 10 office markets with the worst vacancies.
Foreign banks will
not have to pay stamp duty and capital gains tax, if they convert their branch
operations into a wholly owned subsidiary, according to the Reserve Bank of
India.
The Reserve Bank of
India is planning to launch CPI – indexed bonds aimed to protecting the savings
of retail investors from the impact the price rise by December end.
Central Bureau of
Investigation has booked State Bank of India, Deputy Managing Director Shyamal
Acharya and others in a graft case related to distribution of a loan of over Rs
4000 mn. Gold and jewellery worth Rs 6.7 mn have been recovered from the
residence of Acharya.
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. Avnish Harish Karia |
|
Designation : |
Director |
|
Contact No.: |
91-9819377754 |
|
Date : |
21.12.2013 |
LOCATIONS
|
Registered Office : |
601, Bhakti Park, R.H.B. Marg, Mulund (West), Mumbai – 400080,
Maharashtra, India |
|
Tel. No.: |
91-22-23738146 |
|
Mobile No.: |
91-9819377754 (Mr. Avnish Karia) |
|
Fax No.: |
91-22-66339746 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
200 |
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No.
38, Golden Industrial Estate, |
|
Tel. No.: |
91-260-243485,
240138 |
|
Area : |
12000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Branch Office : |
Located At ·
Mulund, Mumbai, Maharashtra, India |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Dineshchandra Mulji Karia |
|
Designation : |
Director |
|
Address : |
13/14, Mahavir Darshan, 3rd Floor, Kasturba Marg, Mulund
(West), Mumbai – 400 080, Maharashtra, India |
|
Date of Birth/Age : |
21.11.1939 |
|
Date of Appointment : |
06.07.1992 |
|
DIN No.: |
00224216 |
|
|
|
|
Name : |
Mr. Bhagwandas Mulji Karia |
|
Designation : |
Director |
|
Address : |
13/14, Mahavir Darshan, |
|
Date of Birth/Age : |
24.06.1945 |
|
Date of Appointment : |
06.07.1992 |
|
DIN No.: |
00230055 |
|
|
|
|
Name : |
Mr. Harish Mulji Karia |
|
Designation : |
Director |
|
Address : |
601, Koteshwar Ashish |
|
Date of Birth/Age : |
25.08.1946 |
|
Date of Appointment : |
06.07.1992 |
|
DIN No.: |
00226974 |
|
|
|
|
Name : |
Mr. Bankim Harish Karia |
|
Designation : |
Director |
|
Address : |
6, Koteshwar Ashish |
|
Date of Birth/Age : |
24.12.1977 |
|
Date of Appointment : |
01.08.1997 |
|
DIN No.: |
01494953 |
|
|
|
|
Name : |
Mr. Avnish Harish Karia |
|
Designation : |
Director |
|
Address : |
601, Koteshwar Ashish |
|
Date of Birth/Age : |
19.05.1985 |
|
Date of Appointment : |
01.05.2004 |
|
DIN No.: |
00227264 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Harish Mulji Karia |
|
3500 |
|
Bhagwandas Mulji Karia |
|
10 |
|
Dineshchandra Mulji Karia |
|
2000 |
|
Bankim Harish Karia |
|
3540 |
|
Avnish Harish Karia |
|
2050 |
|
Total |
|
11100 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Master Batches (use in plastic colouring) |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
·
Singapore ·
Hongkong ·
UK ·
Europe ·
Turkey ·
Africa ·
US |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
·
Saudi Arabia ·
Singapore ·
USA ·
Chan ·
Europe |
|
|
|
|
Terms : |
|
|
Selling : |
L/C/ Credit |
|
|
|
|
Purchasing : |
L/C/ Credit |
GENERAL INFORMATION
|
Suppliers : |
· Ketan Plastic Industries Private Limited · Pigment Specialities India Limited · Raveshia Pigment Limited · Sepulchre Brothers (India) Limited · Sainath Petrochem Private Limited · Overseas Polymers Private Limited · Dupont Limited · Import From Nagase and Company Limited · Resin Distributor Private Limited · Niranjan Shipping Agency Private Limited · Sunil Chemical Industries (Daman) · Archan Flexo Art · Manish Polymers · Raman Polymers · Sangita Poly Pack Private Limited · Connell Brors Company Limited · Dow Corning India Private Limited · Maganlal Mulji and Company · Meghmani Organics Limited · Olefine Organics (India) Private Limited · Ole Fine Organics · Ramniklal S. Gosalia and Company · Sahayog Industries · Shreekrishna Ultramarine and Chemicals · Shree Siddhivinayak Enterprises · Twib Chem Industries · Ultra Fine Fillers Private Limited · Voltas Limited · CIBA Speciality (Gujarat) · CIBA Speciality (Maharashtra) · Dineshchandra Mulji · Wacker Metroarc Chemicals Private Limited · Castrol India · Classic Solvant · Travancore Titanium Product |
|||||||||||||||
|
|
|
|||||||||||||||
|
Customers : |
Wholesalers · Multi Plast · Barrier Films Private Limited · Glory Poly Films Private Limited · Mipak Plastics Private Limited · Nova Flexipack Limited · K M P Limited · Huma Polyplast Limited · Arpita Polymers · Aruna Plastics Industries · Asian Packaging · Bhagvan Packaging Industries Private Limited · C. D. Plastics · Cosmo Films Limited, Baroda, Gujarat · Dipjin Enterprises · Dwanee Multi Films Private Limited · Dhanlaxmi Plastics · Dhanlaxmi Enterprises · Flex Industries Limited · Gujarat Propack Limited · Glory Poly Films Private Limited · Gala Poly Plast · Hema Plastics · Immense Packaging · Kant Industries Private Limited · Ketan Plastic Industries Private Limited · Karan Polymers · Monarch Multilayers Private Limited · M. H. Packaging · Nova Plast Private Limited · Poly Plast Industries · Poly Plast and Paper Products Company · Propyl Packs Private Limited · Riddhi Poly Plast · Rajdeep Plastic Container (India) Private Limited |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
33 (Approximately) (In Office = 1, In Factory = 20 and In Branches =
12) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
Union Bank of India, Kalbadevi Branch, Acharya M. V.
Foundation Bldg., 32, Dadi Seth Agiary Lane, Kalbadevi Road,, Mumbai -
400002, Maharashtra, India |
|||||||||||||||
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|
|||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Akshay Bhatt and Company Chartered Accountants |
|
Address : |
203, Rajdeep, Tara Temple Lane, Opposite D. B. Marg, Police Station,
Mumbai – 400 007, Maharashtra, India |
|
PAN No.: |
AACPB2611A |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000 |
Equity Shares |
Rs.100/- each |
Rs.1.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11100 |
Equity Shares |
Rs.100/-
each |
Rs. 1.110
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 |
1.110 |
1.110 |
1.110 |
|
(b) Reserves & Surplus |
10.281 |
8.880 |
6.546 |
|
(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) |
11.391 |
9.990 |
7.656 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
69.400 |
82.363 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.205 |
0.260 |
0.298 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
54.481 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
69.605 |
82.623 |
54.779 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
31.220 |
29.360 |
7.437 |
|
(b) Trade payables |
54.227 |
48.940 |
24.129 |
|
(c) Other current
liabilities |
1.998 |
3.225 |
2.182 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
87.445 |
81.525 |
33.748 |
|
|
|
|
|
|
TOTAL |
168.441 |
174.138 |
96.183 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
18.088 |
16.447 |
14.868 |
|
(ii) Intangible Assets |
0.303 |
0.303 |
0.303 |
|
(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 |
10.290 |
7.779 |
9.540 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
2.513 |
|
Total Non-Current Assets |
28.681 |
24.529 |
27.224 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
76.693 |
109.950 |
41.049 |
|
(c) Trade receivables |
48.608 |
24.659 |
21.184 |
|
(d) Cash and cash
equivalents |
4.099 |
5.781 |
3.227 |
|
(e) Short-term loans and
advances |
7.305 |
6.175 |
3.499 |
|
(f) Other current assets |
3.055 |
3.044 |
0.000 |
|
Total Current Assets |
139.760 |
149.609 |
68.959 |
|
|
|
|
|
|
TOTAL |
168.441 |
174.138 |
96.183 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income / Sales Turnover (Approximately) |
295.000 (Expand in
Export) |
271.454 |
151.391 |
|
|
|
Other Income |
NA |
0.555 |
0.323 |
|
|
|
TOTAL (A) |
NA |
272.009 |
151.714 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
|
231.064 |
126.467 |
|
|
|
Changes in Inventories of Finished Goods, Stock-in Process and Stock-in Trade |
|
(6.099) |
(3.142) |
|
|
|
Manufacturing Expenses |
NA |
6.341 |
3.390 |
|
|
|
Employee Benefits Expense |
|
4.688 |
3.935 |
|
|
|
Administrative & Selling Expense. |
|
20.706 |
11.883 |
|
|
|
Extra Ordinary Items |
|
(0.039) |
0.033 |
|
|
|
Exceptional Items |
|
0.000 |
0.257 |
|
|
|
TOTAL (B) |
NA |
256.661 |
142.823 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
15.348 |
8.891 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
8.925 |
4.935 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
6.423 |
3.956 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
2.882 |
2.520 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.201 |
3.541 |
1.436 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.800 |
1.207 |
0.650 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.401 |
2.334 |
0.786 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
197.00 |
316.00 |
156.00 |
|
Expected Sales (2013-14) : Rs.400.000 Millions
The above information has been parted by Mr. Avnish Harish Karia
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA
|
0.86 |
0.52 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
1.30 |
0.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.39
|
2.13 |
1.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.35 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
8.83
|
11.18 |
0.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.60
|
1.84 |
2.04 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT: NOT AVAILABLE
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
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 three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
Yes |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
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 |
|
|
|
Avnish H. Karia |
15.800 |
16.732 |
|
Bankim H. Karia |
3.849 |
5.273 |
|
Bhagwandas M. Karia |
0.187 |
4.524 |
|
Dinesh M. Karia |
17.218 |
21.070 |
|
Harish M. Karia |
28.422 |
27.733 |
|
Bajaj Finserve Lending (Repayment due in April 2014) |
0.619 |
1.337 |
|
Magma Fincorporation Limited (Repayment due in July 2014) |
1.017 |
1.640 |
|
Religare Fineinvest Limited (Repayment due in May 2013) |
0.154 |
1.404 |
|
Short Term
Borrowings |
|
|
|
Overdraft form Union Bank of India Kalbadevi |
31.220 |
29.383 |
|
Overdraft form Barcklays Bank Worli |
0.000 |
(0.023) |
|
Total |
98.486 |
109.073 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10336140 |
30/01/2013 * |
50,000,000.00 |
UNION BANK OF INDIA |
KALBADEVI BRANCH, ACHARYA M. V. FOUNDATION BLDG., 32, DADI SETH AGIARY LANE, KALBADEVI ROAD, MUMBAI, MAHARASHTRA - 400002, INDIA |
B68824309 |
|
2 |
10336144 |
30/01/2013 * |
60,000,000.00 |
UNION BANK OF INDIA |
KALBADEVI BRANCH, ACHARYA M. V. FOUNDATION BLDG., 32, DADI SETH AGIARY LANE, KALBADEVI ROAD, MUMBAI, MAHARASHTRA - 400002, INDIA |
B68824929 |
* Date of charge modification
TRADE REFERENCES
·
Multi Plast
·
Niranjan Shipping Agency
Private Limited
FIXED ASSETS
- Land
- Borewell
- Building
- Electric
Fitting
- Plant and
Machinery
- Plant not put
in use
- Electrical
Transformer
- Airconditioner
- Weighing
Scale
- Camers in
Factory
- Computers
Hardware
- Cooling Tower
- Fax Machine
- EPABX System
- Furniture and
Fixture
- Mobile Phone
- Motor Car
Toyoto
- Motor Car L
and K Skoda
- Television
- Motor Car
Skoda Octavia
- Motor Car
Skoda Ride
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.61.99 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.84.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
HET |
|
|
|
|
Report Prepared
by : |
NTH |
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 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.