MIRA
INFORM REPORT
|
Report Date : |
20.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
NEW INDIA EXTRUSION PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
NEW INDIA EXTRUSION LIMITED (w.e.f. 14.11.1996) NEW INDIA ALLOYS AND EXTRUSION LIMITED |
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|
Registered
Office : |
Shivneri Apartments, Mughbhat Lane, Pimple Wadi, Girgaon, Mumbai –
400004, Maharashtra |
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|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2012 |
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Date of Incorporation
: |
05.02.1991 |
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|
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|
Com. Reg. No.: |
11-060109 |
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Capital
Investment / Paid-up Capital : |
Rs. 5.632 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100MH1991PTC060109 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMN11012B/ MUMN10063E/ MUMN09476F |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing an extensive range of high quality extruded and cold drawn
seamless tubes, solids, rods, sections and profiles in copper based alloy
products. |
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|
|
|
No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 865000 |
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|
|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is a well established company having a satisfactory track
record. There appears slight dip in profitability during the current year. However, general financial position of the company seems to be strong.
Trade relations are reported to be fair. Business is active. Payments are
reported to be usually correct and as per commitment. The company can be considered for normal 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB+ (Long term rating) |
|
Rating Explanation |
Having moderate degree of safety regarding timely serving of financial
obligations it carry moderate 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 (GENERAL DETAILS)
|
Name : |
Mr. Murli |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-23823160 |
|
Date : |
18.02.2013 |
LOCATIONS
|
Registered Office : |
Shivneri Apartments, Mughbhat Lane, Pimple Wadi, Girgaon, Mumbai –
400004, Maharashtra, India |
|
Tel. No.: |
91-22-23823160/ 23829779/ 23863526 |
|
Fax No.: |
91-22-23803234 |
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E-Mail : |
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|
Website : |
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|
Location : |
Rented |
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|
|
|
Factory : |
307-308, G.I.D.C, Umbergaon, District Valsad – 396171, Gujarat, India |
|
Tel. No.: |
91-260-2563501/2563502 |
|
Fax No.: |
91-260-2563503 |
|
E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Vishnukumar Ramkishandas Aggarwal |
|
Designation : |
Managing Director |
|
Address : |
1-A, New Suvas Co-Operative Aggarwal, HSG. Society Limited, 68-F,
Nepeansea Road, Rungta Lane, Mumbai - 400006, Maharashtra, India |
|
Date of Birth/Age : |
10.01.1955 |
|
Date of Appointment : |
01.03.2004 |
|
PAN No.: |
AARPK3173D |
|
DIN No.: |
00942132 |
|
|
|
|
Name : |
Mr. Ram Narain Premchand Gupta |
|
Designation : |
Director |
|
Address : |
1/10774, Subhas Park, Navean Sahahadara, Delhi-110032, India |
|
Date of Birth/Age : |
18.09.1952 |
|
Date of Appointment : |
11.06.1992 |
|
PAN No.: |
ABZPG7955L |
|
DIN No.: |
01940078 |
|
|
|
|
Name : |
Mrs. Anju Vishnu Aggarwal |
|
Designation : |
Director |
|
Address : |
1-A, New Suvas Co-Operative Aggarwal, HSG. Society Limited, 68-F,
Nepeansea Road, Rungta Lane, Mumbai - 400006, Maharashtra, India |
|
Date of Birth/Age : |
11.07.1959 |
|
Date of Appointment : |
05.02.1991 |
|
PAN No.: |
AAJPA2724Q |
|
DIN No.: |
01963706 |
|
|
|
|
Name : |
Mr. Hariom Tularam Agarwal |
|
Designation : |
Director |
|
Address : |
E/13, Haridwar – I, Evershine Nagar, Malad (West), Mumbai-400064,
Maharashtra, India |
|
Date of Birth/Age : |
25.12.1962 |
|
Date of Appointment : |
25.11.1993 |
|
PAN No.: |
AAIPA1745N |
|
DIN No.: |
01964340 |
|
|
|
|
Name : |
Mr. Vijendra Kumar Jagdish Prasad Agarwal |
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Designation : |
Director |
|
Address : |
Shreeji Niwas, Flat No.4, 1st Floor, Parnaka, Dahanu, India |
|
Date of Birth/Age : |
01.07.1949 |
|
Date of Appointment : |
31.07.1997 |
|
PAN No.: |
AABPA9759R |
|
DIN No.: |
01964655 |
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|
|
|
Name : |
Ms. Aditi Dhruv Kotak |
|
Designation : |
Director |
|
Address : |
18-Kalpana, 96-B, Netaji Subhash Road, Mumbai – 400002, Maharashtra, India
|
|
Date of Birth/Age : |
16.11.1982 |
|
Date of Appointment : |
30.09.2009 |
|
PAN No.: |
AEQPA8200E |
|
DIN No.: |
02619818 |
KEY EXECUTIVES
|
Name : |
Mr. Murli |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Anju Vishnu Aggarwal |
|
5010 |
|
Anju Vishnu Aggarwal and Rachna V. Aggarwal |
|
6700 |
|
Vishnukumar Aggarwal Aditi V. Aggarwal |
|
20900 |
|
Rachna V. Aggarwal |
|
40 |
|
Vishnukumar H.U.F. |
|
2550 |
|
Aditi V. Aggarwal |
|
750 |
|
Abhineet Vishnukumar Aggarwal |
|
10 |
|
Lokashi Vishnukumar Aggarwal (Through her natural Guardian Vishnukumar Aggarwal) |
|
3000 |
|
Usha Aggarwal |
|
10 |
|
Vishnukumar Aggarwal Through New India Metal Industries, India |
|
6300 |
|
Vishnukumar Aggarwal |
|
11048 |
|
Total |
|
56318 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors * |
100.00 |
|
Total |
100.00 |
*Included 4.53 % of shares held by director as Kartha of HUF
BUSINESS DETAILS
|
Line of Business : |
Manufacturing an extensive range of high quality extruded and cold drawn
seamless tubes, solids, rods, sections and profiles in copper based alloy
products. |
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Products : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Manufacturing Company |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
· Oriental Bank of Commerce, Kalbadevi Branch, Near Kalbadevi Post Office, Kalbadevi, Mumbai - 400002, Maharashtra, India Tel. No.:
91-22-22081400 · HDFC Bank Limited |
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Facilities : |
Note: Cash credit facility with Oriental Bank of Commerce is secured
against hypothecation of stocks of raw materials, stock in process, finished goods,
stores and spares and book debts Letter of credit facility with Oriental Bank of Commerce is secured against documents of title to goods in case of L/C on DP basis and hypothecation charged over the goods in case of L/C on a DA basis. Buyers credit are secured against margin money kept in the form of Fixed deposits with the bank. Car loan from HDFC Bank Limited is secured against
hypothecation of Motor Car. |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
M.C. Doshi and Company Chartered Accountants |
|
Address : |
307, Vaishali Apartment, 30/31 Parekh Street, Prathana Samaj, Mumbai –
400004, Maharashtra, India |
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Tel No.: |
91-22-67437416/ 17 |
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Fax No.: |
91-22-23824232 |
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PAN No.: |
AACPD4437A |
|
Email : |
rmd@mcdoshi.com |
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|
|
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Group Companies : |
·
New India Cuprotec ·
New India Metal Products ·
New India Metal Industries ·
Citizen Extrusion Private Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80000 |
Equity Shares |
Rs.100/- each |
Rs.8.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
56318 |
Equity Shares |
Rs.100/- each |
Rs.5.632
Millions |
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|
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|
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 |
5.632 |
5.632 |
5.632 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
210.639 |
202.631 |
174.903 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
216.271 |
208.264 |
180.535 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
140.262 |
103.053 |
85.259 |
|
|
2] Unsecured Loans |
46.366 |
28.530 |
15.919 |
|
|
TOTAL BORROWING |
186.628 |
131.583 |
101.178 |
|
|
DEFERRED TAX LIABILITIES |
6.308 |
7.497 |
8.701 |
|
|
|
|
|
|
|
|
TOTAL |
409.207 |
347.344 |
290.414 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
151.869 |
156.505 |
67.188 |
|
|
Capital work-in-progress |
1.514 |
1.717 |
2.632 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.918 |
2.918 |
2.917 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
86.388
|
61.509
|
91.004 |
|
|
Sundry Debtors |
91.573
|
98.463
|
69.840 |
|
|
Cash & Bank Balances |
10.021
|
6.777
|
8.789 |
|
|
Other Current Assets |
1.338
|
1.430
|
0.000 |
|
|
Loans & Advances |
77.139
|
49.307
|
70.593 |
|
Total
Current Assets |
266.459
|
217.486
|
240.226 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
10.282
|
19.368
|
13.733 |
|
|
Other Current Liabilities |
1.859
|
4.955
|
2.753 |
|
|
Provisions |
1.412
|
6.959
|
6.063 |
|
Total
Current Liabilities |
13.553
|
31.282
|
22.549 |
|
|
Net Current Assets |
252.906
|
186.204
|
217.677 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
409.207 |
347.344 |
290.414 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
473.772 |
476.515 |
358.867 |
|
|
|
Other Income |
1.796 |
5.305 |
6.380 |
|
|
|
TOTAL |
475.568 |
481.820 |
365.247 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
455.899 |
430.042 |
323.822 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
455.899 |
430.042 |
323.822 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
19.669 |
51.778 |
41.425 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
7.473 |
8.289 |
6.573 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
12.196 |
43.489 |
34.852 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.862 |
15.106 |
13.195 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
8.334 |
28.383 |
21.657 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
193.327 |
166.298 |
145.998 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.350 |
0.700 |
0.700 |
|
|
|
Proposed Dividend |
0.281 |
0.563 |
0.563 |
|
|
|
Tax on Proposed Dividend |
0.046 |
0.091 |
0.094 |
|
|
BALANCE CARRIED
TO THE B/S |
200.984 |
193.327 |
166.298 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
0.000 |
0.043 |
2.006 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
233.444 |
150.782 |
NA |
|
|
|
Components and Spare Parts |
0.375 |
0.180 |
NA |
|
|
TOTAL IMPORTS |
233.819 |
150.962 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
147.98 |
503.98 |
384.55 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.75
|
5.89
|
5.93 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.57
|
9.13
|
9.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.92
|
11.63
|
11.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.21
|
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.86
|
0.63
|
0.56 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
19.66
|
6.95
|
10.65 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
For Goods |
4.782 |
8.719 |
4.136 |
|
For others |
5.500 |
10.649 |
9.597 |
|
Total |
10.282
|
19.368
|
13.733 |
|
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 |
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) |
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 |
Yes |
OPERATIONS
Sales for the year were Rs. 473.700 millions compared to Rs. 474.100
millions for the last year registering a fall of 0.58%. Gross Profit before
depreciation was Rs. 19.700 millions against Rs. 51.800 millions for the last
year registering a reduction of 62.01% as compared to last year which was
possible on account of exchange fluctuation and finance cost.
PROSPECTS
On the basis of performance upto date it appears that the company will
be in a position to maintain and further increase the turnover and marging in
years to come.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
From Shareholders |
26.288 |
16.569 |
|
From Others |
20.078 |
11.961 |
|
Total |
46.366 |
28.530
|
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U27100MH1991PTC060109 |
|
Name of the company |
NEW INDIA EXTRUSION PRIVATE LIMITED. |
|
Address of the registered office or of the principal place of business in India of the company |
Shivneri Apartments, Mughbhat Lane, Pimple Wadi, Girgaon, Mumbai –
400004, Maharashtra, India Email: new_india@vsnl.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
80005658 |
|
Type of charge |
·
Immovable property ·
Any interest in immovable property |
|
Particular of charge holder |
Oriental Bank of Commerce, Kalbadevi Branch, Near Kalbadevi Post Office,
Kalbadevi, Mumbai - 400002, Maharashtra, India Email: emailroc@rediffmail.com
|
|
Nature of instrument creating charge |
No Instrument - Extension of Deposit of title Deeds |
|
Date of instrument Creating the charge |
24.04.2012 |
|
Amount secured by the charge |
Rs. 186.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest Interest rate and Penal interest rate as agreed between the borrower
company and the bank from time to time. Terms of Repayment Repayment, as agreed between the borrower company and the bank from
time to time. Margin Margin Rate, as agreed between the borrower company and the bank from
time to time. Extent and Operation of the charge At the request of the borrower company, the bank has revised overall
banking limits upto Rs. 1860.00 Lacs against Mortgage of the lease hold
rights over the immovable property i. e Factory land and building situated at
Plot No. 307 and 308, GIDC, Umergaon, Valsad Gujarat, adm. 9525 Sq. Meters,
consisting of Revenue Survey No. 204 / P and 357 / P The Charge amount stands unaltered at Rs. 186.000 millions |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Mortgage of the lease hold rights over the immovable property i. e
Factory land and building situated at Plot No. 307 and 308, GIDC, Umergaon, Valsad
Gujarat, adm. 9525 Sq. Meters consisting of Revenue Survey No. 204 / P and
357 / P |
|
Whether any of the property or interest therein under reference is not
registered in the name of the company |
Yes |
|
If yes, in whose name it is registered |
GIDC Valsad Gujarat |
|
Particulars of the present modification |
At the request of the borrower company, the bank has revised overall
banking limits upto Rs. 1860.00 Lacs against Mortgage of the lease hold rights
over the immovable property i. e Factory land and building situated at Plot
No. 307 and 308, GIDC, Umergaon, Valsad Gujarat, adm. 9525 Sq. Meters,
consisting of Revenue Survey No. 204 / P and 357 / P The Charge amount stands unaltered at Rs. 186.000 millions |
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
Particulars |
31.03.2012 |
|
|
|
|
|
|
|
i) Estimated
amount of contracts remaining to be executed on capital accounts and not provided
for |
0.000 |
|
|
|
|
ii) Claims
against the company not acknowledged as debts in respect of |
|
|
-
Sales Tax demand disputed in appeal - Financial
year 1996-97 |
0.014 |
|
-
Sales Tax demand disputed in appeal - Financial
year 1994-95 |
2.158 |
|
-
Income Tax Demand Disputed in Appeal |
0.209 |
|
-
Excise Demand disputed in appeal |
0.544 |
|
|
|
|
iii) Guarantee given by bank in favour of SHV Energy North West India
Limited |
0.102 |
|
|
|
|
iv) Guarantee given by bank in favour of
commissioner of Customs for issue of Advance Licences |
2.085 |
FIXED ASSETS:
· Freehold Land
· Leasehold Land
· Generator
· Factory Building
· Wing Electric Generator
· Plant and Machinery
· Electrical Installation
· Furniture and Fixture
· Vehicles
· Office Equipment
· Computer
· Dies and Moulds
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.54.29 |
|
|
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.72.44 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
49 |
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.