MIRA
INFORM REPORT
|
Report Date : |
22.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
MANIKA MOULDS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Aar-Pee Centre, 601/605, 6th Floor, GUFIC Compound, MIDC,
Andheri (East), Mumbai – 400093, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
25.04.1996 |
|
|
|
|
Com. Reg. No.: |
11-099111 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.200.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH1996PTC099111 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM20410F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM4545Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter all types of Plastic Moulded
Products. |
|
|
|
|
No. of Employees : |
200 (Approximately) (In Office + In Factory) |
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 |
|
Maximum Credit Limit : |
USD 1600000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. The
management of the company has failed to file its financials with the
government department for the years 2012. Mr. Santosh from the finance department has provided all the required
detail of the company to us. However, financials are not verified. As per previous year’s record, the company is found to be performing
very well. Trade relations are reported as decent. Business is active. Payment
terms are reported as slow but correct. The company can be considered 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 |
CARE |
|
Rating |
Long Term Bank Facilities : CARE BBB
|
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
23 April 2012 |
|
Rating Agency Name |
CARE |
|
Rating |
SHORT TERM BANK FACILITIES : CARE A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
23 April 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. Santosh |
|
Designation : |
Finance Department |
|
Contact No.: |
91-22-42234300 |
|
Date : |
22.01.2013 |
LOCATIONS
|
Registered
Office / Corporate Office : |
AAR-PEE Centre, 601/605, 6th Floor, GUFIC Compound, MIDC, Andheri
(East), Mumbai – 400093, |
|
Tel. No.: |
91-22-28200992/42234300 |
|
Fax No.: |
91-22-28200996 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
3500 sq.fts (Approximately) |
|
Location : |
Owned |
|
|
|
|
Factory : |
Located at ·
Silvassa · Dehradun |
DIRECTORS
As on: 30.09.2011
|
Name : |
Mr. Nikunj Mohanlal Kapadia |
|
Designation : |
Director |
|
Address : |
Flat 601, Gada Residency, Plot No.20, Saurabh Vallabh Society, |
|
Date of Birth/Age : |
05.05.1947 |
|
Qualification : |
BSC |
|
Date of Appointment : |
25.04.1996 |
|
DIN No.: |
00877120 |
|
|
|
|
Name : |
Mrs. Malti Nikunj Kapadia |
|
Designation : |
Director |
|
Address : |
Flat 601, Gada Residency, Plot No.20, Saurabh Vallabh Society, |
|
Date of Birth/Age : |
27.04.1950 |
|
Date of Appointment : |
25.04.1996 |
|
DIN No.: |
00905146 |
|
|
|
|
Name : |
Mr. Munjal Nikunj Kapadia |
|
Designation : |
Director |
|
Address : |
Flat 602, Gada Residency, Plot No.20, Saurabh Vallabh Society, 4th
Road, JVPD, Vile Parle (West), Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
15.08.1977 |
|
Qualification : |
Graduate in Plastic Technologies |
|
Date of Appointment : |
25.04.1996 |
|
DIN No.: |
00876921 |
|
|
|
|
Name : |
Mr. Mihir Nikunj Kapadia |
|
Designation : |
Director |
|
Address : |
Flat 703, Gada Residency, Plot No.20, Saurabh Vallabh Society, |
|
Date of Birth/Age : |
09.04.1979 |
|
Qualification : |
BE in Production Engineering, Pain Plastically |
|
Date of Appointment : |
28.06.1997 |
|
DIN No.: |
00877316 |
|
|
|
|
Name : |
Mr. Pratik Nikunj Kapadia |
|
Designation : |
Director |
|
Address : |
Flat 601, Gada Residency, Plot No.20, Saurabh Vallabh Society, |
|
Date of Birth/Age : |
02.11.1983 |
|
Qualification : |
Post Graduate in Plastic Technology |
|
Date of Appointment : |
05.11.2001 |
|
DIN No.: |
00877370 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Nikunj Mohanlal Kapadia |
|
4000000 |
|
Malti Nikunj Kapadia |
|
4000000 |
|
Munjal Nikunj Kapadia |
|
4000000 |
|
Mihir Nikunj Kapadia |
|
4000000 |
|
Pratik Nikunj Kapadia |
|
4000000 |
|
Total |
|
20000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2011
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter all types of Plastic Moulded
Products. |
||||
|
|
|
||||
|
Products : |
·
Automotive Battery Casings ·
Maintenance Free Battery Casings ·
Industrial Battery Casings ·
Motorcycle Battery Casing ·
Inverter Battery Casings
|
||||
|
|
|
||||
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Exports : |
|
||||
|
Products : |
Finished Goods |
||||
|
Countries : |
·
Egypt ·
Sri Lanka |
||||
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|
||||
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Imports : |
|
||||
|
Products : |
Raw Materials |
||||
|
Countries : |
·
Singapore ·
Australia |
||||
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|
||||
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Terms : |
|
||||
|
Selling : |
Cash and Credit |
||||
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|
||||
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Injection Moulding Items |
Pcs. |
12780 mts per
annum |
63986467 |
GENERAL INFORMATION
|
Suppliers : |
·
Reliance Industries Limited |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Customers : |
Others (Manufacturing Companies)
|
||||||||||||||||||
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|
||||||||||||||||||
|
No. of Employees : |
200 (Approximately) (In Office + In Factory) |
||||||||||||||||||
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|
|
||||||||||||||||||
|
Bankers : |
· ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India · Bank of Baroda, Pushpa Kunj Nehru Road, Santacruz (East), Mumbai - 400055, Maharashtra, India ·
State Bank of India, Mid Corporate Loan
Administrative Unit, R T O Lane, Four Bungalows, Andheri (West), Mumbai –
400053, Maharashtra, India · State Bank of India, Industrial Finance Branch Sakinaka, 1st Floor, Saki Vihar Road, Sakinaka, Andheri (East), Mumbai - 400072, Maharashtra, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D G Thakarar and Associates Chartered Accountants |
|
Address : |
B-14, Shubhlaxmi, 2nd Floor, 8th Road, Santacruz (East), Mumbai-400055, Maharashtra, India |
|
PAN : |
AAAFD4545P |
|
|
|
|
Subsidiary
Company : |
Aquline Inc. FZE (United Arab Emirates) |
CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
200.000 |
90.000 |
90.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
200.318 |
132.698 |
34.041 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
400.318 |
222.698 |
124.041 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
489.480 |
223.400 |
143.685 |
|
|
2] Unsecured Loans |
16.203 |
1.637 |
13.507 |
|
|
TOTAL BORROWING |
505.683 |
225.037 |
157.192 |
|
|
DEFERRED TAX LIABILITIES |
9.104 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
915.105 |
447.735 |
281.233 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
320.974 |
211.785 |
133.364 |
|
|
Capital work-in-progress |
72.517 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.695 |
1.694 |
1.695 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
335.160
|
112.048
|
60.705
|
|
|
Sundry Debtors |
325.153
|
183.997
|
86.545
|
|
|
Cash & Bank Balances |
55.334
|
14.319
|
7.835
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
102.054
|
108.610
|
63.308
|
|
Total
Current Assets |
817.701
|
418.974
|
218.393
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
234.273 |
121.055 |
58.613 |
|
|
Other Current Liabilities |
6.561
|
34.793
|
2.110
|
|
|
Provisions |
57.808
|
28.870
|
11.496
|
|
Total
Current Liabilities |
298.642
|
184.718
|
72.219
|
|
|
Net Current Assets |
519.059
|
234.256
|
146.174
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.860 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
915.105 |
447.735 |
281.233 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1598.914 |
981.254 |
|
|
|
|
Other Income |
NA |
NA |
|
|
|
|
TOTAL (A) |
NA |
NA |
712.258 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
670.805
(Including Finance and depreciation) |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
282.855 |
312.866 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
69.310 |
170.557 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
213.545 |
142.309 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
33.510 |
21.176 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
180.035 |
121.133 |
41.453 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
22.416 |
19.317 |
10.315 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
157.619 |
101.816 |
31.138 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
73.098 |
24.441 |
0.803 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
150.400 |
50.000 |
7.500 |
|
|
|
Interim Dividend Paid |
0.000 |
2.700 |
0.000 |
|
|
|
Tax on Dividend |
0.000 |
0.459 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
80.317 |
73.098 |
24.441 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
68.083 |
78.757 |
56.276 |
|
|
TOTAL EARNINGS |
68.083 |
78.757 |
56.276 |
|
|
|
|
|
|
|
|
|
|
IMPORTS – Purchase of
Materials |
144.489 |
63.052 |
30.976 |
|
|
|
|
|
|
|
|
|
|
Earnings/[Loss]
Per Share (Rs.) |
7.88 |
11.31 |
NA |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
1700.000 |
The above information has been parted by Mr. Santosh.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA |
NA
|
4.37
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.26 |
12.34
|
NA
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.81 |
19.20
|
11.78
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.45 |
0.54
|
0.33
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.01 |
1.84
|
1.84
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.73 |
2.27
|
3.05
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
(Rs.
in Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
-For Goods |
|
63.005 |
28.296 |
|
-For Expenses |
|
47.668 |
28.612 |
|
-For Fixed Assets |
|
10.382 |
1.705 |
|
Total |
234.273 |
121.055 |
58.613 |
UNSECURED LOANS
DETAILS:
(Rs.
In Millions)
|
Unsecured Loan |
As
on 31.03.2011 |
|
Loans directors unsecured |
15.915 |
|
Other debt unsecured |
0.288 |
|
Total |
16.203 |
|
Unsecured Loan |
As
on 31.03.2010 |
|
From Directors |
1.637 |
|
Others |
0.000 |
|
Total |
1.637 |
|
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 |
Yes |
|
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 |
No |
|
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 |
Yes |
NOTE:
The Registered Office of the company has been shifted from 22-Amilandhara Society Andheri (W) Mumbai Maharashtra India 400058 to the present address w.e.f.24.09.2007
BUSINESS OPERATIONS:
The Company continues to retain it’s leadership position in it’s business segment.
Total Revenue for the company has increased from Rs.1031.100 Millions to Rs.1718.100 Millions - a growth of 66.64%.
Directors are pleased to inform that the Company has registered a growth of 65.84% in operating profit (PBIDT) during the year which shows consistency with growth in revenue.
The operating Profit before tax has increased to Rs.180.000 Millions from Rs.121.100 Millions in the previous year showing thereby a growth of 48.63%.
CONTINGENT
LIABILITY:
(Rs.
In Millions)
|
Particulars
|
31.03.2011 |
31.03.2010 |
|
|
|
|
|
Bank Guaranteed executed |
2.658 |
2.658 |
|
|
|
|
BANKERS CHARGES REPORT
AS PER REGISTRY
|
Corporate
identity number of the company |
U74999MH1996PTC099111 |
|
Name of the
company |
MANIKA MOULDS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Aar-Pee Centre, 601/605, 6th Floor, GUFIC Compound, MIDC,
Andheri (East), Mumbai – 400093, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
· Book debts ·
Movable property (not being pledge) |
|
Particular of
charge holder |
ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India |
|
Nature of
instrument creating charge |
Deed of
Hypothecation Dated 12th JULY,2012 |
|
Date of
instrument Creating the charge |
12.07.2012 |
|
Amount secured by
the charge |
Rs.150.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per the terms and
conditions agreed between the bank and the company. Terms of Repayment As per the terms
and conditions agreed between the bank and the company. Margin As per the terms
and conditions agreed between the bank and the company. Extent and Operation of the charge First pari passu
charge on the company's current assets. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
The whole of the
Current Assets of the Borrower namely Stocks of Raw Material, Stock in
Process, Semi Finished and Finished Goods, Consumable Stores and Spares,
Bills Receivable and Book Debts and all other movables, both present and
future, whether in the possession or under the control of the Borrower or
not, whether now lying loose or in cases or which are now lying or stored in
or about or shall hereafter from time to time during the continuance of these
presents be brought into or upon or be stored or be in or about all the
Borrower's factories, premises and godowns or whereever else the same may be
or be held by any party to the order or disposition of the Borrower or in the
course of transit or on high seas or on order of delivery. |
TRADE REFERENCE:
·
Reliance Industries Limited
FIXED ASSETS:
·
Factory Gala
·
Plant and Machinery
·
Moulds
·
Factory Equipment
·
Electrical Installations
·
Computer
·
Furniture and fixture
·
Office Equipment
·
Air Conditioner
·
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 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.53.87 |
|
|
1 |
Rs.85.53 |
|
Euro |
1 |
Rs.71.78 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
-RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.