MIRA INFORM REPORT
|
Report Date : |
09.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
FUTURA CERAMICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-501, Shapath IV, Opposite Karanavati Club, S G Highway, Ahmedabad –
281769, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
26.09.2003 |
|
|
|
|
Com. Reg. No.: |
04-42972 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.47.924
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26933GJ2003PTC042972 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRDF00199D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF7962D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Ceramics Glaze Mixture [Frits] and Ceramics Rollers. |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 582000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
Even though the company has reported a better growth in its sales turnover, there
appears a drastic fall in the net profitability during 2012. However, trade relations are fair. Business is active. Payment terms
are reported 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BB+ [Term Loans] |
|
Rating Explanation |
Moderate risk of default regarding timely servicing of financial
obligation. |
|
Date |
May 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
A4+ [Short Term Non Fund Based Limits] |
|
Rating Explanation |
Minimal degree of safety and higher credit risk. |
|
Date |
May 2013 |
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. Gopal |
|
Designation : |
Office Executive |
|
Contact No.: |
91-79-40062008 |
|
Date : |
08.07.2013 |
LOCATIONS
|
Registered Office : |
A-501, Shapath IV, Opposite Karanavati Club, S G Highway, Ahmedabad –
281769, Gujarat, India |
|
Tel. No.: |
91-79-30078008/ 91-2694-281769 |
|
Fax No.: |
91-79-30078008 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Survey No. 851/A, Opposite JTI Oil Field Village and P.O. Radhu,
Taluka and District Kheda-387560, Gujarat, India |
|
Tel. No.: |
91-2694-291033 |
|
Fax No.: |
91-2694-281760 / 291034 |
|
|
|
|
Factory 2 : |
Plot No. 829, GIDC Jhagadia, Near Fire Station, Jhagadia-393110,
Gujarat, India |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Kaliprasad Malleswara Satya Kallakuri |
|
Designation : |
Director |
|
Address : |
A-52, Samkeet 1, Near Chandan Party Plot Satellite, Ahmedabad –
380015, |
|
Date of Birth/Age : |
31.08.1972 |
|
Qualification : |
26.09.2003 |
|
Din No.: |
00439354 |
|
|
|
|
Name : |
Mr. Ravikumar Suryanarayan Rao Chitrapu |
|
Designation : |
Director |
|
Address : |
31, Akash Neem Co. Op. Society, Opposite Neru Foundation, Bodakdev,
Ahmedabad, |
|
Date of Birth/Age : |
06.05.1964 |
|
Date of Appointment : |
26.09.2003 |
|
Din No.: |
00439342 |
|
|
|
|
Name : |
Mr. Govind Brijmohan Sharma |
|
Designation : |
Director |
|
Address : |
41, Sangini Bunglows, Opposite Grand Bhagwati, Near Mann Party Plot,
Ahmedabad – 380059, |
|
Date of Birth/Age : |
26.09.1958 |
|
Date of Appointment : |
26.09.2003 |
|
Din No.: |
00497002 |
KEY EXECUTIVES
|
Name : |
Mr. Gopal |
|
Designation : |
Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ravikumar Suryanarayan Rao Chitrapu |
|
629714 |
|
Govind Brijmohan Sharma |
|
156250 |
|
Kaliprasad Malleswara Satya Kallakuri |
|
1300000 |
|
Kavitha Bala |
|
200000 |
|
KVS Prasad |
|
100000 |
|
K Seshamma |
|
100000 |
|
K Malika |
|
100000 |
|
Vivek Hebbar |
|
100000 |
|
Ravikumar Suryanarayan Rao Chitrapu HUF |
|
864000 |
|
Govind Sharma HUF |
|
245000 |
|
D. Sheshagiri |
|
163450 |
|
Kaliprasad Malleswara Satya Kallakuri HUF |
|
784000 |
|
Columbia Consultants Private Limited |
|
50000 |
|
|
|
|
|
TOTAL
|
|
4792414 |
AS ON 28.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
1.04 |
|
Directors
or relatives of directors |
|
98.96 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Ceramics Glaze Mixture [Frits] and Ceramics Rollers. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Good |
|
Countries : |
Oman |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Credit |
|
|
|
|
Purchasing : |
Credit / Depend |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
2010-11 |
|
Licensed Capacity |
N.A. |
|
CGM Installed Capacity (In Metric Tone) |
16800 |
|
Quantitative particular in respect of finished goods manufactured and
sales of Ceramic Glaze Mixture/Frit |
Current Year [In M.T.] |
|
Production |
13557.10 |
|
Quantitative particular in respect of finished goods manufactured and
sale of Ceramic Rollers |
Current Year [In Nos.] |
|
Ceramic Roller Installed Capacity |
72000 |
|
Production |
33199 |
GENERAL INFORMATION
|
Customers : |
Retailers and End Users |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sunil Poddar and Company Chartered Accountants |
|
Address : |
301-305, Vraj Bhumi, Behind Shilp Building, Off C.G. Road,
Navrangpura, Ahmedabad-380009, Gujarat, India, India |
|
Tel. No.: |
91-79-26402893/ 26431097 |
|
Fax No.: |
91-79-26462614 |
|
PAN No: |
ABEFS3044F |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5250000 |
Equity Shares |
Rs.10/- each |
Rs.52.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4792414 |
Equity Shares |
Rs.10/- each
|
Rs.47.924
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 |
|
47.924 |
47.424 |
|
(b) Reserves & Surplus |
|
97.583 |
86.245 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
|
145.507 |
133.669 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
|
57.338 |
39.396 |
|
(b) Deferred tax
liabilities (Net) |
|
6.358 |
7.313 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
63.696 |
46.709 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
121.331 |
103.793 |
|
(b)
Trade payables |
|
30.197 |
37.345 |
|
(c)
Other current liabilities |
|
9.981 |
10.704 |
|
(d)
Short-term provisions |
|
3.584 |
8.742 |
|
Total
Current Liabilities (4) |
|
165.093 |
160.584 |
|
|
|
|
|
|
TOTAL |
|
374.296 |
340.962 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
144.137 |
149.635 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
43.470 |
0.598 |
|
(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 |
|
0.000 |
0.000 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
187.607 |
150.233 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
65.677 |
69.229 |
|
(c)
Trade receivables |
|
95.057 |
96.817 |
|
(d)
Cash and cash equivalents |
|
6.820 |
3.363 |
|
(e)
Short-term loans and advances |
|
6.530 |
5.655 |
|
(f)
Other current assets |
|
12.605 |
15.665 |
|
Total
Current Assets |
|
186.689 |
190.729 |
|
|
|
|
|
|
TOTAL |
|
374.296 |
340.962 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
47.424 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
75.024 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
122.448 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
120.451 |
|
|
2] Unsecured Loans |
|
|
14.500 |
|
|
TOTAL BORROWING |
|
|
134.951 |
|
|
DEFERRED TAX LIABILITIES |
|
|
6.466 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
263.865 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
149.570 |
|
|
Capital work-in-progress |
|
|
7.868 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
43.402 |
|
|
Sundry Debtors |
|
|
97.922 |
|
|
Cash & Bank Balances |
|
|
1.673 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
24.752 |
|
Total
Current Assets |
|
|
167.749 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
42.932 |
|
|
Other Current Liabilities & Provisions |
|
|
19.873 |
|
Total
Current Liabilities |
|
|
62.805 |
|
|
Net Current Assets |
|
|
104.944 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
1.483 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
263.865 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
485.607 |
397.187 |
432.001 |
|
|
|
Other Income |
0.659 |
0.972 |
1.611 |
|
|
|
TOTAL
(A) |
486.266 |
398.159 |
433.612 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
290.849 |
238.150 |
|
|
|
|
Purchase of Stock in Trade |
7.950 |
1.298 |
|
|
|
|
Manufacturing Expenses |
90.607 |
70.497 |
359.133 |
|
|
|
Employee Benefits Expenses |
13.297 |
10.899 |
|
|
|
|
Other Expenses |
41.021 |
34.382 |
|
|
|
|
Changes in Inventories of Finished Goods/WIP |
(4.626) |
(8.172) |
|
|
|
|
TOTAL (B) |
439.098 |
347.054 |
359.133 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
47.168 |
51.105 |
74.479 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
17.925 |
13.031 |
12.199 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
29.243 |
38.074 |
62.280 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
20.290 |
21.057 |
19.905 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
8.953 |
17.017 |
42.375 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.767 |
5.607 |
14.403 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
6.186 |
11.410 |
27.972 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
72.424 |
45.031 |
|
|
|
|
|
|
|
|
|
Less |
SHORT PROVISION
OF EARLIER YEAR TAXES |
NA |
0.189 |
0.579 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
83.645 |
72.424 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.29 |
2.41 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.27
|
2.87 |
6.45 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.84
|
4.28 |
9.81 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.71
|
5.00 |
13.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.13 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.23
|
1.07 |
1.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13
|
1.19 |
2.67 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2012 [Rs. in millions] |
31.03.2011 [Rs. in millions] |
31.03.2010 [Rs. in millions] |
|
Sundry Creditors |
|
|
|
|
- Trade Payable |
30.197 |
37.345 |
34.081 |
|
Other Payable |
|
|
|
|
- Creditors For
Capital Goods |
6.653 |
6.184 |
2.780 |
|
- Creditors For
Expenses |
0.000 |
0.831 |
6.071 |
|
TOTAL |
36.850 |
44.360 |
42.932 |
|
Sr. No. |
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
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:
The Registered Office of the company has been shifted from Survey No.851/A, Opposite JTI Oil
Field,
OPERATIONS:
During the year, the company has earned the
total income of Rs.486.267 Millions against the total income of last year of
Rs.398.159 Millions and the company has earned net profit of Rs.6.186 Millions
against Rs.11.410 Millions.
|
Unsecured Loan |
As
on 31.03.2012 [Rs.
in Millions] |
As
on 31.03.2011 [Rs.
in Millions] |
|
Long Term
Borrowings |
|
|
|
Loans and
Advances From Other Parties |
|
|
|
Inter Corporate Borrowings |
14.500 |
14.500 |
|
TOTAL
|
14.500 |
14.500 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10061086 |
|
Corporate
identity number of the company |
U26933GJ2003PTC042972 |
|
Name of the
company |
FUTURA CERAMICS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A-501, Shapath IV, Opposite Karanavati Club, S G Highway, Ahmedabad –
281769, Gujarat, India |
|
Type of charge |
Book Debts Movable Property
[not being pledge] Floating Charge |
|
Particular of
charge holder |
State Bank of India Mid Corporate Branch, Zodiac Avenue, Opposite
Commissioner's Bungalow, Law Garden, Ahmedabad-380006, Gujarat, India Email: sbi.60438@sbi.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
agreement of hypothecation of goods and assets |
|
Date of
instrument Creating the charge |
17.10.2012 |
|
Amount secured by
the charge |
Rs.230.900
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As prescribed by
the bank from time to time Terms of Repayment Working capital :
repayable on demand Term loan new :
repayable in 66 months including moratorium period of 6 months i.e. 60
installments of Rs.0.608 Million Corporate
loan : repayable in 36 months
including moratorium period of 3 months i.e. 33 installments of Rs.0.455
Million each Margin Raw Material
/SIP/ FG : 25% Receivables
[cover 90 days] : 50% EPC/PCFC : 10% Bank Guarantee
: 15% Letter of Credit
: 15% Extent and Operation of the charge Exclusive charge
created in favour of bank |
|
Short particulars
of the property charged |
Hypothecation of
charge over all current assets including raw material, stock in process,
finished goods, receivables , stores and spares of the company |
|
Date of latest
modification prior to the present modification |
18.04.2011 |
|
Particulars of
the present modification |
Original charge
modified from time to time now secures enhanced aggregate credit facilities
amounting to Rs. 230.900 Millions. |
FIXED ASSETS:
- Land –
Freehold
- Building
- Plant and
Machinery
- Gas
Generators
- Electric
Installation
- Office
Equipment
- Furniture and
Fixture
- Vehicles
- Computers
- Laboratory
Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.05 |
|
|
1 |
Rs.90.89 |
|
Euro |
1 |
Rs.78.27 |
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 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.