MIRA INFORM REPORT
|
Report Date : |
05.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
HRS PROCESS SYSTEMS LIMITED (w.e.f.
22.04.2010) |
|
|
|
|
Formerly Known
As : |
HRS PROCESS SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
201/202, 2nd
Floor, Karan Selene, 851, Bhandarkar Institute Road, Pune – 411004,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
01.04.2003 |
|
|
|
|
Com. Reg. No.: |
25-17846 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.100 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29198PN2003PTC017846 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEH04305A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCH2679G |
|
|
|
|
Legal Form : |
A closely held
public limited Liability company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter
of Ecoflux, Corrugated Tube Heat Exchangers. |
|
|
|
|
No. of Employees
: |
110 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 500000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of HRS International Limited, UK. It is an
established company having satisfactory track record. There appears an extreme dip in the income as well as net
profitability of the company during 2012. Trade relations are reported as fair. Business is active. Payments are
recorded as usually correct. 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
21 December 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
21 December 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. Vinay Gokhale |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-20-25663581 |
|
Date : |
30.05.2013 |
LOCATIONS
|
Registered Office / Corporate Office 1 : |
201/202, 2nd
Floor, Karan Selene, 851, Bhandarkar Institute Road, Pune – 411004,
Maharashtra, India |
|
Tel. No.: |
91-20-25663581/6047894/25663582/66047894/66047895 |
|
Fax No.: |
91-20-25663583 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
7100 Sq.fts |
|
Location : |
Rented |
|
|
|
|
Corporate Office
2 : |
501/502, Karan
Selene, 851, |
|
Area : |
7100 Sq.fts |
|
Location : |
Rented |
|
|
|
|
Factory : |
Gat No. 565/1, Koregaon, Bhima, Taluka Shirur, District Pune-411 004, |
|
Tel. No.: |
91-2137-676701 |
|
Fax No.: |
91-2137-676705 |
|
E-Mail : |
|
|
Area : |
15000 Sq. fts |
|
Location : |
Owned |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Venugopalan Gokuldas |
|
Designation : |
Managing Director |
|
Address : |
Flat No.12, Anushka, |
|
Date of Birth/Age : |
03.06.1963 |
|
Date of Appointment : |
01.04.2003 |
|
Din No.: |
00489737 |
|
|
|
|
Name : |
Mr. Steven John Pither |
|
Designation : |
Director |
|
Address : |
10-12, |
|
Date of Appointment : |
13.06.2003 |
|
Din No.: |
02047015 |
|
|
|
|
Name : |
Mr. Rajendra Dawkar |
|
Designation : |
Whole – time Director |
|
Address : |
Building No. F1-6, |
|
Date of Birth/Age : |
06.02.1967 |
|
Date of Appointment : |
24.03.2009 |
|
Din No.: |
02581847 |
KEY EXECUTIVES
|
Name : |
Mr. Vinay Gokhale |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
HRS International Limited, |
|
469146 |
|
HRS Heat Exchangers Limited, |
|
51 |
|
Venugopalan Gokuldas |
|
40799 |
|
Das Elizabeth |
|
01 |
|
Francisco Javier Abad Ruiz |
|
01 |
|
Pither Edward Steven |
|
01 |
|
Twydle Michael Robert |
|
01 |
|
Total |
|
510000 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
92.00 |
|
Directors or relatives of Directors |
8.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Exporter of Ecoflux, Corrugated Tube Heat Exchangers. |
|
|
|
|
Exports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS AS ON 31.03.2011
|
Particular |
Units |
Actual Production |
|
Corrugated Tube Heat Exchanger |
Nos. |
1335 |
GENERAL INFORMATION
|
Customers : |
End Users |
|||||||||||||||
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|
|
|||||||||||||||
|
No. of Employees : |
110 (Approximately) |
|||||||||||||||
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|
|||||||||||||||
|
Bankers : |
State Bank of |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
Cash Credit: 45.000 Millions (From State Bank of Term Loan: 30.000 Millions (From State Bank of
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Naniwadekar and Company Chartered Accountants |
|
Address : |
2, Nalini Apartments, Plot No. 3/10, |
|
Tel No.: |
91-20-25439238/25448641 |
|
Fax No.: |
91-20-25439238 |
|
Email: |
|
|
PAN.: |
AANPN9281B |
|
|
|
|
Holding Company: |
HRS International Limited, |
|
|
|
|
Fellow Subsidiaries: |
|
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Share |
Rs.10/- Each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
510000 |
Equity Share |
Rs.10/- Each |
Rs.5.100
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
5.100 |
5.100 |
|
(b) Reserves & Surplus |
|
119.053 |
115.051 |
|
(c) Money
received against share warrants |
|
0.000 |
0.00 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
124.153 |
120.151 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
2.907 |
3.982 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
3.533 |
2.917 |
|
Total Non-current
Liabilities (3) |
|
6.440 |
6.899 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
27.330 |
23.616 |
|
(b) Trade
payables |
|
14.331 |
27.159 |
|
(c) Other
current liabilities |
|
31.998 |
26.149 |
|
(d) Short-term
provisions |
|
14.170 |
24.686 |
|
Total Current
Liabilities (4) |
|
87.829 |
101.610 |
|
|
|
|
|
|
TOTAL |
|
218.422 |
228.660 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
69.959 |
69.439 |
|
(ii)
Intangible Assets |
|
0.217 |
0.172 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
4.335 |
4.380 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
74.511 |
73.991 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
86.093 |
65.666 |
|
(c) Trade
receivables |
|
32.135 |
58.673 |
|
(d) Cash
and cash equivalents |
|
5.144 |
6.503 |
|
(e)
Short-term loans and advances |
|
16.660 |
22.148 |
|
(f) Other
current assets |
|
3.879 |
1.679 |
|
Total
Current Assets |
|
143.911 |
154.669 |
|
|
|
|
|
|
TOTAL |
|
218.422 |
228.660 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
5.100 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
95.865 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
100.965 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
29.291 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
29.291 |
|
|
DEFERRED TAX LIABILITIES |
|
|
3.339 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
133.595 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
67.920 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
54.170 |
|
|
Sundry Debtors |
|
|
50.338 |
|
|
Cash & Bank Balances |
|
|
18.185 |
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
12.667
|
|
Total
Current Assets |
|
|
135.360 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
41.431
|
|
|
Other Current Liabilities |
|
|
11.930
|
|
|
Provisions |
|
|
16.324
|
|
Total
Current Liabilities |
|
|
69.685 |
|
|
Net Current Assets |
|
|
65.675 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
133.595 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
293.100 |
382.421 |
300.952 |
|
|
|
Other Income |
1.964 |
3.141 |
5.323 |
|
|
|
TOTAL (A) |
295.064 |
385.562 |
306.275 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
163.390 |
199.391 |
|
|
|
|
Changes in inventories of Finished Goods work-in-progress and
stock-in-trade |
(28.950) |
(5.270) |
|
|
|
|
Employees benefit Expenses |
51.280 |
46.404 |
|
|
|
|
Other Expenses |
95.085 |
97.002 |
|
|
|
|
TOTAL (B) |
280.805 |
337.527 |
243.013 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
14.259 |
48.035 |
63.262 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.190 |
2.442 |
2.609 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
10.069 |
45.593 |
60.653 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.143 |
4.439 |
4.015 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
5.926 |
41.154 |
56.638 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.924 |
13.642 |
20.240 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
4.002 |
27.512 |
36.398 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
106.421 |
89.986 |
69.121 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Final Dividend |
NA |
7.140 |
10.200 |
|
|
|
Tax on Proposed Final Dividend |
NA |
1.186 |
1.694 |
|
|
|
Transfer to General Reserve |
NA |
2.751 |
3.639 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
106.421 |
89.986 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
31.198 |
13.818 |
9.970 |
|
|
TOTAL EARNINGS |
31.198 |
13.818 |
9.970 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
27.505 |
23.067 |
11.871 |
|
|
|
Capital Goods |
0.000 |
0.277 |
2.927 |
|
|
TOTAL IMPORTS |
27.505 |
23.344 |
14.798 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.85 |
53.94 |
71.37 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
400.000 |
Expected Sales (2013-2014): Rs.480.000 Millions
The above information has been parted / denied by Mr. Vinay Gokhale
(Finance Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.37
|
7.14 |
11.88 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.02
|
10.76 |
18.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.71
|
18.00 |
41.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.34 |
0.56 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.22
|
0.20 |
0.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.64
|
1.52 |
1.94 |
LOCAL AGENCY FURTHER INFORMATION
|
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
five years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
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] |
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: Registered office of the company has been
shifted from Pune–411021,
Maharashtra, India to the present address
w.e.f 22.11.2006
FUTURE PLANS
The Company is investing in enhancing its presence in the market by employing
manpower and other marketing resources which
will help enhance market reach and generate better business
The Pharma sector continues to grow at a healthy pace and chemical
processing is also have some projects. They have also made in roads into core sectors like steel, cement,
power and fertilizers which have helped us enhance their business areas.
The food processing sector is showing
promising trends in beverage processing and pulp processing, with new segments
like snack food, health drinks, neutraceuticals, prepared/cooked food, milk and
milk products processing which will help us
enhance our market segment and business.
International business has been specially focused with the thrust in the South East Asia which has started
giving some returns.
There are also planning to expand their Factory to cater to the business plan with an additional
shed of about 20,000 sq.ft and
storage areas.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U29198PN2003PLC017846 |
|
Name of the
company |
HRS PROCESS
SYSTEMS LIMITED |
|
Address of the
registered office or of the principal place of business in |
201/202, 2nd
Floor, Karan Selene, 851, Bhandarkar Institute Road, Pune – 411004, Maharashtra,
India Email: finance@hrsasia.co.in |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10029876 |
|
Type of charge |
·
Immovable property ·
Book debts ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
(CIN:
U29198PN2003PLC017846) State Bank of
India, Deccan Gymkhana, Pune- 411004, Maharashtra, India Email: shrikrishna.joshi@sbi.co.in |
|
Nature of
instrument creating charge |
Deed of Further
Charge and Supplemental Agreement of Loan cum Hypothecation. Both Agreements
constitute single charge. |
|
Date of
instrument Creating the charge |
27.03.2012 |
|
Amount secured by
the charge |
Rs.165.300
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Working capital -
6% p.a. above Base Rate 10% p.a.(present effective rate 16% p.a.) Term Loan - 6.75%
p.a. above Base Rate 10% p.a. (present effective rate 16.75% p.a.) Terms of
Repayment Working Capital
facilities of Rs.150.000 Millions ( Cash Credit Rs.450.00 Lakhs+ Letter of
Credit Rs.500.00Lakhs+Bank guarantee Rs.40.000 Millions + Forward Contract Limit)
repayable on demand , subject to
renewal. Term Loan of
Rs.30.000 Millions repayable in 60 monthly instalments from September 2012 to
November 2017 Margin Stocks, Raw
Materials, Stock in progress, FG - 25% Receivables - 40% Letter of
Credit- Cash Margin 10% Bank
Guarantee- Cash Margin 10% Extent and
Operation of the charge First charge on
the movable and immovable property of the company. Others As per Letter of
Arrangement |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
For DCC
hypothecation of stock of goods and receivables including goods in transit For Term Loan -
Plant and machinery, Building at Gat No.565/1, Koregaon Bhima, Tal. Shirur,
Distt. Pune For BG - Charge
on above security and hypothecation of stocks and book debts, Omnibus counter
guarantee For BG For LC - Charge
on above security and hypothecation of stocks and books, Omnibus indemnity Collateral
Security: - a. For CC, LG,
BG, TL - Regd. Mortgage of land and building situated at Gat No.565/1,
Koregaon Bhima, Tal. Shirur, Distt. Pune. For
Guarantees/TPGs - Nil |
|
Date of
instrument modifying the charge |
11.02.2011 |
|
Particulars of
the present modification |
DCC limits
enhanced by Rs.20.000 Millions LC limits
enhanced by Rs.40.000 Millions TL limits (Fresh
and total) Rs.30.000 Millions Forward contract
limit (for hedging) Rs.0.300 Millions BG limits
enhanced by Rs.15.000 Millions |
CONTINGENT LIABILITIES:
(AS on 31.03.2012)
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
|
Guarantee |
9.318 |
|
Other money for which the company is
contingently liable – Income tax |
0.006 |
FIXED ASSETS
- Land
- Building
- Vehicle
- Computer
- Furniture and
Fixture
- Office
Equipment
- Plant and
Machinery
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.60.09 |
|
|
1 |
Rs.91.58 |
|
Euro |
1 |
Rs.78.08 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.