MIRA
INFORM REPORT
|
Report Date : |
18.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
MADURA GARMENTS LIFESTYLE RETAIL COMPANY LIMITED |
|
|
|
|
Registered
Office : |
Indian Rayon Compound, Veraval-362266, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
01.05.2007 |
|
|
|
|
Com. Reg. No.: |
04-058604 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs. 200.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101GJ2007PLC058604 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRM11824B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCM0483M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and Importer of Apparel Accessories. |
|
|
|
|
No. of
Employees: |
80 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a 100% subsidiary of Aditya Birla Nuvo Limited. It is an established company having satisfactory track record. There
appears huge accumulated losses recorded by the company. However, trade relations
are reported as fair. Business is active. Payments are reported to be usually
correct and as per commitments. In view of strong holding the company can be considered normal for
business dealings at usual trade terms and conditions. |
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
AA+ NCD’s |
|
Rating Explanation |
The high credit quality, it carry low credit risk. |
|
Date |
September, 2012 |
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. Dipanjal Bandupadyay |
|
Designation : |
Group of Finance Manager |
|
Contact No.: |
91-2876-245711 |
|
Date : |
13.02.2013 |
LOCATIONS
|
Registered Office : |
Indian Rayon Compound, Veraval 362266, Gujarat, India |
|
Tel No.: |
91-2876-245711 |
|
Fax No.: |
91-2876-243220 |
|
E-Mail : |
mohana.sundaram@madura.adityabirla.com
|
|
Website: |
|
|
Area: |
4000 sq. ft. |
|
Location : |
Leased |
|
|
|
|
Factory : |
No.110 4th Cross, 5th Block, Koramangala
Industrial Layout, Koramangala, Bangalore-560095, Karnataka, India |
|
Tel. No.: |
91-80-66915000 / 66182000 |
|
Mobile No.: |
91-9886000837 |
|
Fax No.: |
91-80-66915050 |
|
E-Mail : |
|
|
Website: |
|
|
Area: |
4000 Sq. fts |
|
Location: |
Leased |
|
|
|
|
Corporate
Office: |
Aditya Birla Group, 111-112, 3rd Cross, 1st
Main, 7th Block Koramangala, Bangalore-560095, Karnataka, India |
|
|
|
|
Bangalore Office
: |
Plot No. 5B, Regent Gateway, Doddanakundi Village, KIADB Industrial
Area, ITPL Road, Bangalore-560048, Karnataka, India |
|
Tel No.: |
91-80-67881095/67881000 |
|
Fax No.: |
91-80-67271616 |
|
Email: |
DIRECTORS
AS ON 14.07.2012
|
Name : |
Mr. Pranab Barua |
|
Designation : |
Director |
|
Address: |
D-1, Cedar Crest, 258, 10th Main Defence Colony,
Indiranagar, Bangalore-560038, Karnataka, India |
|
Date of Birth/Age : |
21.09.1952 |
|
Date of Appointment : |
27.01.2009 |
|
DIN No.: |
00230152 |
|
|
|
|
Name : |
Mr. Ashish Dikshit |
|
Designation : |
Director |
|
Address : |
E-405, Raheja residency, 8th C, Main Road, Koramangala. 3rd
Block, Bangalore 560034, Karnataka. |
|
Date of Birth/Age : |
15.07.1969 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
01.10.2007 |
|
DIN No.: |
01842066 |
|
|
|
|
Name : |
Mr. Srinivasan Visvanathan |
|
Designation : |
Director |
|
Address : |
No. 481 First Floor, 15th Main 16th Cross HSR
Layout, Sector 4, Bangalore-560102, Karnataka, India |
|
Date of Birth/Age : |
02.06.1960 |
|
Date of Appointment : |
20.09.2009 |
|
DIN No.: |
02312556 |
|
|
|
|
Name : |
Mr. Sushil Agarwal |
|
Designation : |
Director |
|
Address: |
Ocean CH Society Lmited, 301 Ocean View Union Park, Khar West,
Mumbai-400052, Maharashtra, India |
|
Date of Birth/ Age: |
13.06.1962 |
|
Date of Appointment: |
20.07.2009 |
|
DIN No.: |
00060017 |
|
|
|
|
Name : |
Mr. Devendra Bhandari |
|
Designation : |
Director |
|
Address: |
A1601, Aster Tower, Film City Road, Malad (East), Mumbai, Maharashtra,
India |
|
Date of Birth/ Age: |
31.07.1953 |
|
Date of Appointment: |
08.07.2010 |
|
DIN No.: |
00339397 |
KEY EXECUTIVES
|
|
|
|
Name : |
Mr. Ashish Dikshit |
|
Designation : |
Manager |
|
Address : |
E-405, Raheja residency, 8th C, Main Road, Koramangala, 3rd Block,
Bangalore 560034, Karnataka. |
|
Date of Birth/Age : |
15.07.1969 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
15.07.2009 |
|
|
|
|
|
|
|
Pan No.: |
ADXPA0013B |
|
|
|
|
Designation : |
Mr. Mohana Sundaram G |
|
Address : |
Secretary |
|
Address: |
# 382, MSR Nagar, Bangalore-560054, Karnataka, India |
|
Qualification : |
17.10.1967 |
|
Date of Appointment : |
15.10.2008 |
|
Pan No.: |
AMIPS5440E |
|
|
|
|
Name : |
Mr. George M Santacroce. |
|
Designation : |
Chief Executive Officer |
|
|
|
|
Name : |
Ms. Julie Woodhead |
|
Designation : |
General Merchandising Manager |
|
|
|
|
Name : |
Mr. Ram Narayan Iyer |
|
Designation : |
Director Operations |
|
|
|
|
Name : |
Mr. Dipanjal Bandupadyay |
|
Designation : |
Group of Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 14.07.2012
|
Names of Shareholders |
No. of Equity Shares |
No. of Preference
Shares |
|
Aditya Birla Nuvo Limited, India |
9950000 |
10000000 |
|
Aditya Birla Nuvo Limited, India |
1 |
-- |
|
Aditya Birla Nuvo Limited, India |
1 |
-- |
|
Aditya Birla Nuvo Limited, India |
1 |
-- |
|
Aditya Birla Nuvo Limited, India |
1 |
-- |
|
Aditya Birla Nuvo Limited, India |
1 |
-- |
|
Aditya Birla Nuvo Limited, India |
1 |
-- |
|
Abnl Investments Limited, India |
49994 |
|
|
|
|
|
|
TOTAL |
10000000 |
10000000 |
AS ON 24.09.2012
|
Names of Allottees |
|
No. of Shares |
|
Aditya Birla Nuvo Limited, India |
|
88888890 |
|
|
|
|
|
TOTAL |
|
88888890 |
AS ON 14.07.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Apparel Accessories. |
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Products : |
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|
Brand Names : |
“The Collective Store” |
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Imports : |
|
||||||||
|
Products : |
Readymade Garment |
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|
Countries : |
·
Europe ·
USA |
||||||||
|
|
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
Cash and Credit |
||||||||
|
|
|
||||||||
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Retailers |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
80 [Approximately] |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
·
Dhanlakshmi Bank Limited, Ground Floor,
Janmabhoomi Bhavan, Janmabhoomi Marg, Fort, Mumbai 400001, Maharashtra, India
·
HSBC Bank Limited, M.G. Road, Bangalore 560025,
Karnataka, India ·
HDFC Bank Limited, Salco Centre, Richmond Road, Bangalore 560025, Karnataka, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells / Mr. S Ganesh Chartered Accountants |
|
Address : |
Deloitte Centere, Anchorage II, 100/2, Richmond Road,
Bangalore-560025, Karnataka, India |
|
|
|
|
Holding Company
: |
·
Aditya Birla Nuvo Limited CIN No.:
L17199GJ1956PLC001107 |
|
|
|
|
Fellow Subsidiaries : |
|
CAPITAL STRUCTURE
AS ON 14.07.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
110000000 |
Equity Shares |
Rs. 10/- each |
Rs.1100.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
108888890 |
Equity Shares |
Rs. 10/- each |
Rs.1088.888 Millions |
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs. 10/- each |
Rs.100.000 millions |
|
10000000 |
Redeemable Cumulative Preference Shares |
Rs. 10/- each |
Rs.100.000 millions (A) |
|
|
Total |
|
Rs.
200.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares * |
Rs. 10/- each |
Rs.100.000 millions |
|
10000000 |
Redeemable Cumulative Preference Shares ** |
Rs. 10/- each |
Rs.100.000 millions (B) |
|
|
Total |
|
Rs.
200.000 Millions |
NOTE:
(A) 8% Redeemable Cumulative Preference Shares of Rs. 10 each.
(B) All the above mentioned Preference Shares are held by the Holding
Company Aditya Birla Nuvo Limited
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 |
200.000 |
200.000 |
200.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(1596.804) |
(1339.174) |
(963.714) |
|
|
NETWORTH |
(1396.804) |
(1139.174) |
(763.714) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
3635.347 |
534.117 |
|
|
2] Unsecured Loans |
|
|
791.300 |
|
|
TOTAL BORROWING |
4708.439 |
3635.347 |
1325.417 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3311.635 |
2496.173 |
561.703 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
175.791 |
252.098 |
284.323 |
|
|
Capital work-in-progress |
22.334 |
0.000 |
100.554 |
|
|
|
|
|
|
|
|
INVESTMENT |
3003.178 |
2253.177 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
205.726
|
136.941
|
126.585
|
|
|
Sundry Debtors |
21.773
|
19.271
|
31.027
|
|
|
Cash & Bank Balances |
12.877
|
0.854
|
14.818
|
|
|
Other Current Assets |
16.030
|
7.590
|
0.000
|
|
|
Loans & Advances |
157.824
|
125.724
|
140.453
|
|
Total
Current Assets |
414.230
|
290.380
|
312.883
|
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
257.185
|
137.740
|
121.605
|
|
|
Other Current Liabilities |
42.106
|
159.121
|
11.013
|
|
|
Provisions |
4.607
|
2.621
|
3.439
|
|
Total
Current Liabilities |
303.898
|
299.482
|
136.057
|
|
|
Net Current Assets |
110.332
|
(9.102)
|
176.826
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3311.635 |
2496.173 |
561.703 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating Revenue |
599.990 |
461.944 |
302.663 |
|
|
|
Other Income |
13.329 |
163.209 |
1.468 |
|
|
|
TOTAL (A) |
613.319 |
625.153 |
304.131 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock in Trade |
463.802 |
348.271 |
|
|
|
|
Employee Benefits Expenses |
73.621 |
104.710 |
|
|
|
|
Amortization of Intangible Liabilities
|
2.821 |
5.820 |
463.714 |
|
|
|
Other Expenses |
273.813 |
256.415 |
|
|
|
|
Changes in Inventories of Finished Goods, Work in Progress and Stock
in Trade |
(68.786) |
(10.355) |
|
|
|
|
TOTAL (B) |
745.271 |
704.861 |
463.714 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(131.952) |
(79.708) |
(159.583) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
39.983 |
176.759 |
138.347 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(171.935) |
(256.467) |
(297.930) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION (F) |
85.695 |
118.992 |
70.987 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
BEFORE TAX (E-F) (G) |
(257.630) |
(375.459) |
(368.917) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ LOSS
AFTER TAX (G-H) (I) |
(257.630) |
(375.459) |
(368.917) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
(963.715) |
(594.798) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
(1339.174) |
(963.715) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Inventory Purchase |
NA |
72.788 |
91.450 |
|
|
|
Capital Goods |
NA |
12.414 |
9.289 |
|
|
|
Cost of Production testing |
NA |
0.131 |
1.324 |
|
|
TOTAL IMPORTS |
NA |
85.333 |
102.063 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(26.70) |
(38.48) |
(37.59) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total
Income |
(%) |
(42.00)
|
(60.06)
|
(121.30)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(42.94)
|
(81.27)
|
(145.20)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(43.66)
|
(69.21)
|
(67.36)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.33
|
(0.48)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(3.37)
|
(3.19)
|
(1.74)
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36
|
0.97
|
2.30
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
in Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors |
|
|
|
|
Due to Micro and Small Enterprises |
-- |
-- |
-- |
|
Due to Others |
257.185
|
137.740
|
121.605
|
|
Total |
257.185 |
137.740 |
121.605 |
|
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% |
-- |
|
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 |
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
NOTE:
Registered office of the company has been shifted from Plot No. 5B, Regent Gateway, Doddanekundi Village, KIADB Industrial Area, ITPL Road, Bangalore – 560 048, Karnataka to the present address w.e.f. 20.10.2009
Fixed Assets:
·
Leasehold Improvements
·
Plant and Machinery
·
Computer and Accessories
·
Office Equipments
·
Fixture and Fittings
·
Vehicles
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.53.99 |
|
|
1 |
Rs.83.72 |
|
Euro |
1 |
Rs.72.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.