MIRA
INFORM REPORT
|
Report Date : |
13.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
ACT INFRAPORT LIMITED |
|
|
|
|
Registered
Office : |
14, Shipping House, Ground Floor, 26, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
05.10.2004 |
|
|
|
|
Com. Reg. No.: |
11-148978 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.40.500
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200MH2004PLC148978 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of Stevedoring, Clearing Forwarding
and Ship Agency Business. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1330000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an well established company having a satisfactory track
record. There appears sharp fall in sales turnover and profitability during
the current year. However, general financial position of the company appears to be
strong. Trade relations are reported to be fair. Business is active. Payments
are reported to be fair business is active. Payments are reported to be
regular and as per commitment. The company can be considered normal for business dealings at usual
trade terms and condition. |
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
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village farming,
modern agriculture, handicrafts, a wide range of modern industries, and a
multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
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. Rajan |
|
Designation : |
Chief Finance Officer |
|
Contact No.: |
91-9824204910 |
|
Date : |
06.02.2013 |
LOCATIONS
|
Registered Office : |
14, Shipping House, Ground Floor, 26, |
|
Tel. No.: |
91-22-66347482/
32947294 |
|
Mobile No.: |
91-9824204910 (Mr. Rajan) 91-9723462349 (Mr. Vinit Sharma) |
|
Fax No.: |
91-22-66347485 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Sector – 1/A, Plot No.285/286, Gandhidham, Kutch District, Kutch – 370
201, |
|
Tel. No.: |
91-2836-229967/ 231734/ 239743 |
|
Fax No.: |
91-2836-238864/ 228465 |
|
|
|
|
Branch Office : |
Located at: · Mundra · Kandla · New Delhi · Mumbai · Mangalore · Cochin · Karwar · Dahej/ Bharuch · Visakhapatnam/Gangavaram ·
Nhava Sheva (JNP) |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Sujananandan Velayudhan Thundathil |
|
Designation : |
Whole Time Director |
|
Address : |
Plot No.398, Ward 2/B, Adipur, Kutch – 370205, Gujarat, India |
|
Date of Birth/Age : |
01.10.1945 |
|
Date of Appointment : |
01.04.2008 |
|
DIN No.: |
00535991 |
|
|
|
|
Name : |
Mr. Gopal Sujan Thundathil |
|
Designation : |
Managing Director |
|
Address : |
Plot No.398, Ward 2/B, Adipur, Kutch – 370205, Gujarat, India |
|
Date of Birth/Age : |
09.10.1975 |
|
Date of Appointment : |
01.04.2008 |
|
DIN No.: |
00536124 |
|
|
|
|
Name : |
Mr. Shanker Sujan Thundathil |
|
Designation : |
Director |
|
Address : |
Plot No.398, Ward 2/B, Adipur, Kutch – 370205, Gujarat, India |
|
Date of Birth/Age : |
09.11.1978 |
|
Date of Appointment : |
05.10.2004 |
|
DIN No.: |
00536241 |
|
|
|
|
Name : |
Mr. Rajan Jacob Methrayil |
|
Designation : |
Director |
|
Address : |
Plotn no D-108, N.U.-4, Sapna Nagar, Near Kidana Char
Rastha, Gandhidham- 370201, Gujarat, India |
|
Date of Birth/Age : |
06.07.1961 |
|
Date of Appointment : |
01.04.2012 |
|
DIN No.: |
03589342 |
KEY EXECUTIVES
|
Name : |
Mr. Rajan |
|
Designation : |
Chief Finance Officer |
|
|
|
|
Name : |
Mr. Vinit Sharma |
|
Designation : |
Senior Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Sujananandan Velayudhan Thundathil |
|
1336200 |
|
Gopal Sujan Thundathil |
|
2025000 |
|
Tulsi Sujan Thundathil |
|
364500 |
|
Sunitbabu Velayudhan Thundathil |
|
100 |
|
Rema Sunitbabu |
|
100 |
|
Vishwakala Mohan Nair |
|
100 |
|
Gauri Gopal Sujan |
|
324000 |
|
Total |
|
4050000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Stevedoring, Clearing Forwarding
and Ship Agency Business. |
|
|
|
|
Services : |
·
Custom House Agent ·
Clearing and Forwarding ·
Stevedoring ·
Shipping Agency ·
Chartering and Shipbroking |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
·
ICICI Bank Limited, Landmark Race Cource Circle,
Alkapuri, Baroda – 390 015, Gujarat, India ·
Kotak Mahindra Bank Limited, Dr. Yagnik Road,
Nath Complex, 1st Floor, Rajkot – 360 001, Gujarat, India ·
Axis Bank Limited, Plot No.349, Sector 12B,
Gandhidham – 370 201, Gujarat, India ·
Corporation Bank ·
Punjab National Bank ·
State Bank of India ·
Bank of Baroda ·
Bank of India ·
State Bank of Indore ·
Mehsana Urban Co-Operative Bank Limited ·
HDFC Bank Limited, HDFC Bank Housesenapati Bapat
Marg, Lower Parel (West), Mumbai- 400013, Maharashtra, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
Ge Capital
Transportation Financial Services Limited, Aifacs Building, 1, Rafi Marg, New
Delhi - 110001, India |
|
|
|
|
Auditors : |
|
|
Name : |
Rajesh Vyas and Company Chartered Accountants |
|
Address : |
Office No-2,1st Floor, B Wing, Shreepati Apartment,
Opposite "C" Ward Municipal Office, Chandan Wadi, Mumbai-400002,
India |
|
Tel. No.: |
91-22-22010480 |
|
Email: |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAJPV6403B |
|
|
|
|
Holding Company
: |
·
Act Infraport Limited |
|
|
|
|
Subsidiaries : |
·
Sunbright
Shipping Limited S.A, Panama ·
Propel
Shipping Pte Limited, Singapore |
|
|
|
|
Other Related
Parties : |
·
Sujan Multiport
Limited ·
Act
International Limited ·
Adity Fules
Limited ·
Act Shipping
Limited ·
Sujan Shipping ·
Sujan Maritime
Limited ·
Sujan and Akin
Intertank Terminal Limited ·
Aaditya
Marketing and Trading Company ·
Golden Box
Ocean Trans ·
Sujan Mega
Warehousing Parks ·
Sujan
warehousing and Industrial zone ·
Act Logistics ·
Aditya Trading
Corporation ·
Sujan Oil and
Gas Infra Logistics |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4050000 |
Equity Shares |
Rs.10/- each |
Rs.40.500
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
40.500 |
40.500 |
40.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
292.168 |
241.546 |
145.789 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
332.668 |
282.046 |
186.289 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
43.670 |
52.789 |
25.321 |
|
|
2] Unsecured Loans |
7.449 |
4.605 |
7.892 |
|
|
TOTAL BORROWING |
51.119 |
57.394 |
33.213 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
383.787 |
339.440 |
219.502 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
49.685 |
51.067 |
50.598 |
|
|
Capital work-in-progress |
17.104 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
161.561 |
3.566 |
0.016 |
|
|
DEFERRED TAX ASSETS |
0.885 |
1.275 |
0.832 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000 |
|
|
Sundry Debtors |
148.434
|
223.123
|
234.849 |
|
|
Cash & Bank Balances |
31.977
|
158.789
|
76.535 |
|
|
Other Current Assets |
226.998
|
154.223
|
0.000 |
|
|
Loans, Deposits & Advances |
0.000
|
0.000
|
165.719 |
|
Total
Current Assets |
407.409
|
536.135
|
477.103 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
50.497 |
48.934 |
75.195 |
|
|
Other Current Liabilities |
41.774
|
68.583
|
133.915 |
|
|
Provisions |
160.586
|
135.086
|
100.141 |
|
Total
Current Liabilities |
252.857
|
252.603
|
309.251 |
|
|
Net Current Assets |
154.552
|
283.532
|
167.852 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.204 |
|
|
|
|
|
|
|
|
TOTAL |
383.787 |
339.440 |
219.502 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
589.934 |
752.653 |
724.263 |
|
|
|
Other Income |
11.833 |
10.734 |
10.234 |
|
|
|
TOTAL
(A) |
601.767 |
763.387 |
734.497 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee benefit expense |
60.245 |
37.236 |
|
|
|
|
Managerial remuneration |
2.730 |
2.730 |
|
|
|
|
Payment to auditors |
0.100 |
0.100 |
|
|
|
|
Insurance expenses |
0.836 |
1.042 |
|
|
|
|
Power and fuel |
5.856 |
0.986 |
|
|
|
|
Other expenses |
440.525 |
563.549 |
|
|
|
|
TOTAL (B) |
510.292 |
605.643 |
579.987 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
91.475 |
157.744 |
154.510 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.830 |
2.731 |
2.295 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
87.645 |
155.013 |
152.215 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.132 |
10.681 |
8.672 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
76.513 |
144.332 |
143.543 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
25.891 |
48.574 |
48.871 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
50.622 |
95.758 |
94.672 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
241.546 |
145.788 |
51.116 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
292.168 |
241.546 |
145.788 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
117.004 |
136.215 |
22.822 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.50 |
23.64 |
23.38 |
|
%2013-Feb-2013_files/image001.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
8.41
|
12.54
|
12.89 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.97
|
19.18
|
19.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.74
|
24.58
|
27.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.51
|
0.77 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.15
|
0.20
|
0.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.61
|
2.12
|
1.54 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
(Rs. in millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors |
50.497 |
48.934 |
75.195 |
|
Total |
50.497 |
48.934 |
75.195 |
|
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 |
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 |
No |
UNSECURED LOANS
(Rs. In Millions)
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
Long term borrowing |
|
|
|
Unsecured |
0.000 |
0.005 |
|
Short term borrowing |
|
|
|
Unsecured loans |
7.449 |
4.600 |
|
Total |
7.449 |
4.605 |
Note:
The registered office of the company has been shifted from Ground Floor, Nanak Niwas, 24, Kumptha Street, Fort, Mumbai – 400 001, Maharashtra to the present address w.e.f. 01.03.2010.
PERFORMANCE OF THE
COMPANY
The Company has
achieved turnover of Rs 601.768 millions (which includes other income) as
against Rs. 763.387 millions for the previous year. Further the net profit
after tax for the current financial year is Rs 50.622 millions as against Rs.
95.758 millions. The directors will try to improve performance in next year.
CORPORATE INFORMATION
The company was incorporated in the state of
Maharashtra and is engaged in the business of Stevedoring, Clearing Forwarding and Ship
Agency Business.
The company has incorporated two wholly owned foreign subsidiaries
namely Sunbright Limited. S.A in Panama and Propel Shipping Pte Limited,
Singapore
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U45200MH2004PLC148978 |
|
|
Name of the
company |
ACT INFRAPORT LIMITED |
|
|
Address of the
registered office or of the principal place of business in |
14, Shipping House, Ground Floor, 26, E-Mail: rajan@actship.com |
|
|
This form is for |
Creation of
charge |
|
|
Type of charge |
·
Movable
Property (not being pledge) |
|
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel
(West), Mumbai- 400013, Maharashtra, India E-Mail: |
|
|
Nature of
description of the instrument creating or modifying the charge |
Agreement for
Loan and Guarantee. (Contracts No.:
3429080 / 85) (Rs.3196000/- X 2
Conts.) = Rs.6.392 Millions |
|
|
Date of
instrument Creating the charge |
06.06.2012 |
|
|
Amount secured by
the charge |
Rs.30.000
millions |
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Interest @ 9.20 %
p.a. Terms of
Repayment: The Loan is
repayable in 35 EMIs of Rs.0.209 millions (Rs.0.104 X 2 Conts.) starting from
20th June, 2012 ending on 20th April, 2015 Margin: As may be
stipulated by bank from time to time. Extent and
Operation of the charge: The Company
hypothecates to and charges in favour of the Bank by way of first and
exclusive charge of the Vehicle/ equipment described in Item No. 15 as
security for the repayment/payment by the company of the loan granted or to
be granted to the company by the Bank together with all fees, interest, costs and expenses
incurred/to be incurred by the Bank and all other monies payable or to become
payable by the company to the Bank. Others: The Bank shall be
absolutely entitled and have full power and authority to sell, assign or
transfer in any manner, in whole or in part, and in such manner and on such
terms as the Bank may decide, including reserving a right to the Bank to
retain its power to proceed against the company on behalf of the purchaser,
assignee or transferee, any or all outstanding dues of the company, to any
third party of the Bank's choice without reference to or without written
intimation to the company. |
|
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of 2
Nos. Equipments namely : TATA EX 110 (Year Of Manufacture: 2012) |
|
FIXED ASSETS:
· Computer
· Generator
· Furniture and Fixtures
· Office Equipments
· Car
· Jeep
· Scooter
· Bus
· Container
· Commercial Vehicles
· Gears
· Tankers
· Loader
· Cycle
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered
forfeited for violation of money laundering or international anti-terrorism
laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.96 |
|
|
1 |
Rs.84.49 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
TOTAL |
|
50 |
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.