MIRA INFORM REPORT
|
Report Date : |
11.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
TIRTH AGRO TECHNOLOGY PRIVATE LIMITED |
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Registered Office : |
Near Goverdhan Gin Mill, |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
26.07.2000 |
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Com. Reg. No.: |
04-038435 |
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Capital Investment
/ Paid-up Capital : |
Rs.14.850 Millions |
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|
CIN No.: [Company
Identification No.] |
U72900GJ2000PTC038435 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RKTT00405G |
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PAN No.: [Permanent
Account No.] |
AABCT6282F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Agricultural Implements |
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No. of Employees
: |
500 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2000000 |
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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 an established company having satisfactory track record. The company has performed well and reported a significant growth in the
sales turnover as well as net profitability during 2012. Financial and
liquidity position appears to be sound and healthy. 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 |
CRISIL |
|
Rating |
BBB- (Long Term Rating) |
|
Rating Explanation |
Moderate degree of safety regarding timely servicing and carry
moderate credit risk. |
|
Date |
11.02.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A3 (Short Term Rating) |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
11.02.2013 |
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
|
Name : |
Mr. Pravin Yadav |
|
Designation : |
Senior Accounts Manager |
|
Contact No.: |
91-9227927905 |
|
Date : |
10.07.2013 |
LOCATIONS
|
Registered Office / Factory : |
Near Goverdhan Gin Mill, |
|
Tel. No.: |
91-281-2386047 / 2377204 / 2380852 |
|
Mobile No : |
91-9227927905 (Mr. Pravin Yadav) |
|
Fax No.: |
91-281-2380852 / 2386047 |
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E-Mail : |
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Website : |
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|
Area : |
10000 Sq. ft. |
|
Location : |
Owned |
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|
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|
Branch Office 1
: |
Near |
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|
|
|
Branch Office : |
Also Located at
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DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Hasmukhbhai Gatorbhai Gohil |
|
Designation : |
Director |
|
Address : |
3, Marutinagar,
Kevalam Apartment, 3rd Floor, 304, Airport Road, Rajkot-360003,
Gujarat, India |
|
Date of Birth : |
22.12.1975 |
|
Qualification : |
Mechanical Engineer |
|
Date of Appointment : |
26.07.2000 |
|
PAN No.: |
AERPG2922G |
|
DIN : |
00619221 |
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|
|
|
Name : |
Mr. Ashwin Gatorbhai Gohil |
|
Designation : |
Director |
|
Address : |
St No 4,
Ramakrishna Ashram, 401 Atul Apartment, B/H Ramakrishna Ashram,
Rajkot-360001, Gujarat, India |
|
Date of Birth : |
08.12.1973 |
|
Qualification : |
Mechanical Engineer |
|
Date of Appointment : |
26.07.2000 |
|
PAN No.: |
ADSPG6669G |
|
DIN : |
00619253 |
KEY EXECUTIVES
|
Name : |
Mr. Pravin Yadav |
|
Designation : |
Senior Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Hasmukhbhai Gatorbhai Gohil |
804000 |
|
Ashwin Gatorbhai Gohil |
656000 |
|
Gatorbhai Ladhubhai Gohil |
25000 |
|
TOTAL
|
1485000 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Agricultural Implements. |
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Products : |
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Exports : |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
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|
|
|
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|
Agriculture Implements |
Nos. |
75000 |
42273 |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
500 (Approximately) |
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Bankers : |
·
Bank of Baroda, Industrial Estate SME Branch,
2/12, Bhaktinagar Station Plot, Rajkot-360002, Gujarat, India ·
HDFC Bank
Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West),
Mumbai-400013, Maharashtra, India ·
IDBI
Bank Limited, Bhunava, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Kalaria and Sampat Chartered Accountants |
|
Address : |
302-305, Star Avenue, Dr. Radhakrishna Road, Opposite Rajkumar
College, Rajkot-360001, Gujarat, India |
|
PAN No.: |
AACFK2045F |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs. 15.000 Millions |
|
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1485000 |
Equity Shares |
Rs.10/- each |
Rs. 14.850
Millions |
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|
|
|
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 |
|
14.850 |
14.850 |
|
(b) Reserves & Surplus |
|
505.090 |
185.111 |
|
(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) |
|
519.940 |
199.961 |
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
562.629 |
273.806 |
|
(b) Deferred tax liabilities (Net) |
|
33.332 |
24.436 |
|
(c) Other long term
liabilities |
|
70.545 |
0.910 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
666.506 |
299.152 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
469.737 |
208.879 |
|
(b) Trade payables |
|
446.572 |
268.253 |
|
(c) Other current
liabilities |
|
268.254 |
145.438 |
|
(d) Short-term
provisions |
|
151.288 |
22.012 |
|
Total Current
Liabilities (4) |
|
1335.851 |
644.582 |
|
|
|
|
|
|
TOTAL |
|
2522.297 |
1143.695 |
|
|
|
|
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II.
ASSETS |
|
|
|
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(1) Non-current assets |
|
|
|
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(a) Fixed Assets |
|
|
|
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(i) Tangible assets |
|
837.446 |
491.886 |
|
(ii) Intangible Assets |
|
9.791 |
0.000 |
|
(iii) Capital
work-in-progress |
|
187.251 |
18.348 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
29.560 |
61.114 |
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(e) Other
Non-current assets |
|
11.308 |
3.416 |
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Total Non-Current
Assets |
|
1075.356 |
574.764 |
|
|
|
|
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(2) Current assets |
|
|
|
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(a) Current investments |
|
0.000 |
0.000 |
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(b) Inventories |
|
563.272 |
277.108 |
|
(c) Trade receivables |
|
811.029 |
253.916 |
|
(d) Cash and cash
equivalents |
|
57.994 |
22.051 |
|
(e) Short-term loans
and advances |
|
14.646 |
15.856 |
|
(f) Other current
assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
1446.941 |
568.931 |
|
|
|
|
|
|
TOTAL |
|
2522.297 |
1143.695 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
13.850 |
|
|
2] Share Application Money |
|
|
1.500 |
|
|
3] Reserves & Surplus |
|
|
84.647 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
99.997 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
125.439 |
|
|
2] Unsecured Loans |
|
|
43.886 |
|
|
TOTAL BORROWING |
|
|
169.325 |
|
|
DEFERRED TAX LIABILITIES |
|
|
8.905 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
278.227 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
140.855 |
|
|
Capital work-in-progress |
|
|
56.870 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
52.989
|
|
|
Sundry Debtors |
|
|
132.249
|
|
|
Cash & Bank Balances |
|
|
23.455
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
43.075
|
|
Total
Current Assets |
|
|
251.768 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
125.494
|
|
|
Other Current Liabilities |
|
|
26.821
|
|
|
Provisions |
|
|
19.123
|
|
Total
Current Liabilities |
|
|
171.438 |
|
|
Net Current Assets |
|
|
80.330
|
|
|
|
|
|
|
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|
MISCELLANEOUS EXPENSES |
|
|
0.171 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
278.227 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operation |
4477.500 |
2545.300 |
1167.701 |
|
|
|
Other Income |
NA |
NA |
3.074 |
|
|
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TOTAL |
NA |
NA |
1170.775 |
|
|
|
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|
|
|
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|
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
|
|
797.601 |
|
|
|
Manufacturing Expenses |
|
|
173.383 |
|
|
|
Increase/(Decrease) in Finished Goods |
|
|
4.409 |
|
|
|
Personal Expenses |
|
|
16.912 |
|
|
|
Administrative and Selling Expenses |
|
|
101.698 |
|
|
|
Miscellaneous Expenditure W/Off |
|
|
0.080 |
|
|
|
TOTAL |
NA |
NA |
1094.083 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
705.800 |
219.000 |
76.692 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
91.500 |
23.700 |
3.747 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
614.300 |
195.300 |
72.945 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
127.400 |
57.800 |
15.638 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
487.000 |
137.400 |
57.307 |
|
|
|
|
|
|
|
|
|
|
TAX |
167.000 |
46.000 |
20.442 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
320.000 |
91.500 |
36.865 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
141.500 |
50.000 |
13.174 |
|
|
|
|
|
|
|
|
|
|
Excess / (Short)
Provision of Income Tax of Earlier Year |
0.000 |
0.000 |
(0.042) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
461.500 |
141.500 |
49.997 |
|
|
|
|
|
|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
131.700 |
21.915 |
14.396 |
|
|
TOTAL EARNINGS |
131.700 |
21.915 |
14.396 |
|
|
|
|
|
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|
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.000 |
6.223 |
8.626 |
|
|
|
Spares |
0.000 |
47.628 |
49.424 |
|
|
|
Capital Goods |
128.800 |
0.000 |
0.000 |
|
|
|
Others Purchases |
111.800 |
68.738 |
4.074 |
|
|
TOTAL IMPORTS |
240.600 |
122.589 |
62.124 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
215.47 |
66.06 |
28.23 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
5000.000 |
|
|
|
|
|
Expected Sales (2013-2014) : Rs. 6000.000 Millions
The above information has been parted by Mr. Pravin Yadav.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA |
3.15 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.88
|
5.40 |
4.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.86
|
12.21 |
14.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.94
|
0.69 |
0.57 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.99
|
2.41 |
1.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.08
|
0.88 |
1.47 |
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
three 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 |
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] |
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 |
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and Advances from Directors |
62.371 |
42.743 |
|
Loans and Advances from Others |
0.000 |
1.555 |
|
Loans Taken from Vehicles |
3.922 |
7.009 |
|
|
|
|
|
TOTAL |
66.293 |
51.307 |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors
|
|
|
|
|
Due to others |
446.572 |
268.253 |
125.494 |
|
TOTAL |
446.572 |
268.253 |
125.494 |
NOTE
The Registered Office of the company has been shifted from Near Hotel Krishna
Park, NH 8-B, Gondal Road, Vavdi, Rajkot-360004, Gujarat, India, to the present
address w.e.f. 03.11.2010
OPERATIONS
The Financial year
2011-12 was beset with challenges. While the agricultural and service sector
displayed some resilience, the unsettled global outlook and constrained
domestic economic environment took a heavy toll on the industrial activity
during the year.
In these
challenging times, the company has secured good performance reflecting in
substantial growth in Revenue from Operation by 176%, to Rs. 4477.500 Millions
during the year from Rs.2545.300 Millions in the previous year.
Consequent to this
commendable performance, the Profit for the year before Depreciation, Finance costs
and Taxes recorded an increase of 222% at Rs. 705.800 Millions as against Rs.
219.000 Millions in the previous year. Similarly Net profit increased by 250%,
to Rs.320.000 Millions as against Rs.91.500 Millions in the previous year.
FINANCE
During the year,
Company was sanctioned fresh term loan to the tune of Rs.435.500 Millions for
its expansion program and the Working Capital limits of the Company has also
been enhanced by Rs.340.000 Millions during the year.
FORM 8
|
Corporate
identity number of the company |
U72900GJ2000PTC038435 |
||||||||||||||||||
|
Name of the
company |
TIRTH AGRO
TECHNOLOGY PRIVATE LIMITED |
||||||||||||||||||
|
Address of the
registered office or of the principal place of business in |
Near Goverdhan Gin Mill, National Highway 8-B, Taluka Gondal Bhunava, Bhunava-360311, Gujarat, India |
||||||||||||||||||
|
This form is for |
Modification of
charge |
||||||||||||||||||
|
Charge
identification number of the charge to be modified |
10281615 |
||||||||||||||||||
|
Type of charge |
|
||||||||||||||||||
|
Particular of
charge holder |
Bank of Baroda, Industrial Estate SME Branch, 2/12, Bhaktinagar
Station Plot, Rajkot-360002, Gujarat, India
|
||||||||||||||||||
|
Nature of
instrument creating charge |
Joint Supplemental
Instrument For The Creation And Extention of Mortgage By Deposit of Title
Deeds |
||||||||||||||||||
|
Date of
instrument Creating the charge |
29.10.2012 |
||||||||||||||||||
|
Amount secured by
the charge |
Rs. 1708.200
Millions |
||||||||||||||||||
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Different Rate Of
Interest For Different Facilities Terms of repayment Cash credit
repayable on demand. Other facilities
repayable Margin Different Margin
For Different Facilities Extent and operation of the charge Total facilty
increased from Rs. 1130.600 Millions to Rs. 1708.200 Millions by way of
extension of mortgage by deposit of title deeds Other Bank of Baroda is
designated as the lead bank and IDBI Bank ltd, corporation bank and state
bank of India as the member banks of the consortium collectively called as
"the Bank of Baroda consortium" with the consent of all the parties
to secure the aggregate credit facilities of Rs. 1708.200 Millions and all
the terms and conditions shall be as per the agreement. |
||||||||||||||||||
|
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 registers |
Gatorbhai Gohil
And Lalitaben Gohil |
||||||||||||||||||
|
Date of instrument
modifying the charge |
26.03.2012 |
||||||||||||||||||
|
Particulars of
the present modification |
Increase In The
Credit Limits As Follows: (Rs. In Millions)
|
FIXED ASSETS
- Land
- Factory
Building
- Plant and
Machinery
- Electric
Weight Scale
- Auto Rickshaw
- Vehicles
- Tools
- Furniture
- Air
Conditioner
- Computer
Systems
- Office
Equipment
- Water Coolers
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. 60.13 |
|
|
1 |
Rs. 89.52 |
|
Euro |
1 |
Rs. 76.89 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.