MIRA INFORM REPORT
|
Report Date : |
12.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered
Office : |
41 KM, Bangalore
– Mysore Road, Village Madapura, Ramanagaram - 571511, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
11.09.1984 |
|
|
|
|
Com. Reg. No.: |
08-067590 [New] 11-033987 [Old] |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 35.500
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900KA1984PTC067590 [New] U51900MH1984PTC033987 [Old] |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC10103C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC1661J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Processing of Granite and Marble. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 995900 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a moderate track record. The
company has incurred a loss during 2012. Company’s volumes witnessed a sharp declined owing to poor
macroeconomic sentiment in the real estate sector. However, trade relations are fair. Business is active. Payments are
reported as slow but correct. The company can be considered for business dealings with some caution.
|
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 |
Short term fund based limit : A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
March 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term non fund based : A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
March 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. Shetty |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9886693566 |
|
Date : |
11.06.2013 |
LOCATIONS
|
Registered Office/ Factory 1 : |
41 KM, Bangalore
– Mysore Road, Village Madapura, Ramanagaram - 571511, Karnataka , India |
|
Tel. No.: |
91-80-27285629/ 27285630 |
|
Mobile No.: |
91-9886693566 [Mr. Shetty] |
|
Fax No.: |
91-80-27285621/ 27285626 |
|
Email : |
|
|
Website: |
|
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Plot No: K-5, Addl MIDC Area, Kodoli Village, Satara - 415004,
Maharashtra, India |
|
Tel. No.: |
91-2162-240600/ 240 601 |
|
Fax No.: |
91-2162-240602 |
|
Email: |
|
|
|
|
|
City Office : |
Mittal Tower, ‘A’ Wing, 3rd Floor, Br Rajani Patel Road,
Nariman Point, Mumbai – 400021, Maharashtra, India |
|
Tel No.: |
91-22-22824464/ 22832305 |
|
|
|
|
Group Company
Office : |
DB House, Gen. A.K. Vaidya Marg, Goregaon (East), Mumbai – 400063,
Maharashtra, India |
|
Tel. No.: |
91-22-28402304/ 28402305 (13 lines) / 40430830/ 40778600 |
|
Fax No.: |
91-22-28402322/ 28421667 |
|
E-Mail : |
DIRECTORS
AS ON 21.09.2012
|
Name : |
Mr. Vinod Kumar Goenka |
|
Designation : |
Director |
|
Address : |
Karmayog, 6th Floor, Hatkesh Society, N.S. Road No. 6, Juhu
Scheme, Mumbai - 400049, Maharashtra, India |
|
Date of Birth/Age : |
02.07.1959 |
|
Date of Appointment : |
29.09.2010 |
|
DIN No.: |
00029033 |
|
|
|
|
Name : |
Mr. Sanjiv Goenka |
|
Designation : |
Whole-time director |
|
Address : |
405, Hazel, Raheja Residency, Kormangala, 3rd Block,
Bangalore – 560034, Karnataka, India |
|
Date of Birth/Age : |
03.03.1968
|
|
Date of Appointment : |
29.07.1994 |
|
DIN No.: |
00205975 |
|
|
|
|
Name : |
Mrs. Aseela Vinod Goenka |
|
Designation : |
Director |
|
Address : |
Karmayog, 6th Floor, Hatkesh Society, N.S. Road No. 6, Juhu
Scheme, Mumbai - 400049, Maharashtra, India |
|
Date of Birth/Age : |
09.05.1961 |
|
Date of Appointment : |
20.03.2006 |
|
DIN No.: |
00028432 |
|
|
|
|
Name : |
Mr. Narayan Prasad Bajaj |
|
Designation : |
Director |
|
Address : |
201, Namita, Gulmohar Road No.4, Juhu-Parle Scheme, Mumbai - 400049,
Maharashtra India |
|
Date of Birth/Age : |
02.11.1946 |
|
Date of Appointment : |
06.01.2004 |
|
DIN No.: |
00718905 |
KEY EXECUTIVES
|
Name : |
Mr. Shetty |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 21.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Vinod K. Goenka Partner - K.G.
Enterprises, India |
|
1 |
|
Sanjiv N. Goenka |
|
33675 |
|
Vinod K. Goenka Karta HUF and Aseela Goenka |
|
126239 |
|
Aseela Goneka and Vinod K. Goenka |
|
35000 |
|
Jyoti Goenka |
|
28396 |
|
Sanjiv Goenka F and NG Akshay Goenka |
|
13338 |
|
Jayvardhan V. Goenka and Aseela
Goenka |
|
35000 |
|
Sanjiv Goenka HUF |
|
13341 |
|
Sanjana Goenka and Aseela Goenka |
|
35000 |
|
Aseela Goenka Managing Trustee of Goenka Family Trust |
|
35010 |
|
|
|
|
|
Total |
|
355000 |
AS ON 21.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
50.82 |
|
Other
top fifty shareholders |
|
49.18 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Processing of Granite and Marble. |
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Products/ Services : |
|
||||
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||||
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Imports : |
|
||||
|
Products : |
Granite |
||||
|
Countries : |
Ø Italy Ø Germany |
||||
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|
|
||||
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Terms : |
|
||||
|
Selling : |
Credit |
||||
|
|
|
||||
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Purchasing : |
Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Granite |
Sq. Mtrs. |
370000 |
370000 |
209262 |
GENERAL INFORMATION
|
No. of Employees : |
250 (Approximately) |
||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||
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Bankers : |
Ø Bank of Baroda,
Mumbai Main Office, 10/12, Mumbai Samachar Marg, Fort, Mumbai - 400023,
Maharashtra, India Ø Allahabad Bank, Industrial
Finance Branch, Apeejay House, 3 Dinshaw Wachha Road, Mumbai - 400020,
Maharashtra, India |
||||||||||||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors 1 : |
|
|
Name : |
M.A. Parikh and Company Chartered Accountants |
|
Address : |
Yusuf Building, 2nd Floor, 43, M.G. Road, Fort, Mumbai – 400001,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFM1433H |
|
|
|
|
Auditors 2 : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
912-913, Tulsiani Chambers, 121, Nariman Point, Mumbai – 400021,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFC0662N |
|
|
|
|
Subsidiaries : |
Heritage Mining Company Private Limited [U74999MH1993PTC070833] |
|
|
|
|
Other Related Parties : |
Ø Conwood
Construction and Developers Private Limited Ø Crystal Stone
Tech FZC Ø Crystal Granite
and Marble FZE |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500,000 |
Equity Shares |
Rs. 100/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
355,000 |
Equity Shares |
Rs. 100/- each |
Rs. 35.500
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 |
|
35.500 |
35.500 |
|
(b) Reserves & Surplus |
|
213.477 |
246.574 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
0.000 |
0.000 |
|
|
|
|
|
|
(3) Non-current liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.410 |
0.736 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
10.370 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
10.505 |
10.031 |
|
|
|
10.915 |
21.138 |
|
(4)
Current liabilities |
|
|
|
|
(a)
Short term borrowings |
|
323.102 |
344.591 |
|
(b)
Trade payables |
|
50.272 |
44.910 |
|
(c)
Other current liabilities |
|
70.355 |
43.762 |
|
(d)
Short-term provisions |
|
2.871 |
5.413 |
|
TOTAL |
|
706.492 |
741.887 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
124.126 |
136.722 |
|
(ii) Intangible Assets |
|
1.113 |
1.669 |
|
(iii)
Capital work-in-progress |
|
0.000 |
9.311 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
1.867 |
1.868 |
|
(c) Deferred tax assets
(net) |
|
9.474 |
0.000 |
|
(d) Long-term Loan and Advances |
|
9.622 |
8.641 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
238.353 |
243.983 |
|
(c) Trade receivables |
|
234.691 |
239.191 |
|
(d) Cash and cash
equivalents |
|
20.662 |
25.251 |
|
(e) Short-term loans and
advances |
|
47.053 |
74.367 |
|
(f) Other current assets |
|
19.531 |
0.884 |
|
TOTAL |
|
706.492 |
741.887 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
35.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
242.097 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
277.597 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
232.270 |
|
|
2] Unsecured Loans |
|
|
44.250 |
|
|
TOTAL BORROWING |
|
|
276.520 |
|
|
DEFERRED TAX LIABILITIES |
|
|
13.738 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
567.855 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
158.964 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1.868 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
229.684
|
|
|
Sundry Debtors |
|
|
197.522
|
|
|
Cash & Bank Balances |
|
|
21.724
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
63.587
|
|
Total
Current Assets |
|
|
512.517
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
82.009
|
|
|
Other Current Liabilities |
|
|
10.393
|
|
|
Provisions |
|
|
13.092
|
|
Total
Current Liabilities |
|
|
105.494
|
|
|
Net Current Assets |
|
|
407.023
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
567.855 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
597.601 |
657.703 |
614.264 |
|
|
|
Other Income |
13.878 |
12.300 |
7.261 |
|
|
|
TOTAL (A) |
611.479 |
670.003 |
621.525 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
599.805 |
603.903 |
582.756 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
11.674 |
66.100 |
38.769 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
48.567 |
40.183 |
25.949 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(36.893) |
25.917 |
12.820 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17.041 |
18.809 |
18.756 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(53.934) |
7.108 |
(5.936) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(20.838) |
2.631 |
3.754 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(33.096) |
4.477 |
(9.690) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
211.487 |
207.010 |
216.700 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
178.391 |
211.487 |
207.010 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports of Goods on FOB Basis |
560.207 |
617.088 |
578.840 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
90.089 |
91.375 |
92.024 |
|
|
|
Components and Spares |
7.616 |
8.208 |
11.543 |
|
|
|
Capital Goods |
3.378 |
0.000 |
0.000 |
|
|
|
Consumables |
59.196 |
49.827 |
47.386 |
|
|
TOTAL IMPORTS |
160.279 |
149.410 |
150.953 |
|
|
|
|
|
|
|
|
|
|
Earnings / (
Loss) Per Share (Rs.) |
(93.23) |
12.61 |
(27.30) |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
638.700 |
|
|
|
|
|
The above information has been parted by Mr. Shetty [Accounts Manager]
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(5.41)
|
0.67 |
(1.56)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(9.03)
|
1.09 |
(0.97)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.76)
|
0.97 |
(0.88)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.22)
|
0.03 |
(0.02)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.30
|
1.22 |
1.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.56
|
1.67 |
4.86 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Trade payable |
(Rs. In Millions) |
||
|
Due
to Micro Small and Medium Enterprises (Maini Abrassive Private Limited) |
0.000 |
0.065 |
0.077 |
|
Due
to Others |
50.272 |
44.845 |
81.932 |
|
Total |
50.272 |
44.910 |
82.009 |
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
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 |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
Short Term
Borrowings |
|
|
|
Loans from Shareholders |
51.250 |
44.250 |
|
Total |
51.250 |
44.250 |
Note:
The registered office of the company has been shifted from DB House,
Gen. A.K. Vaidya Marg, Goregaon (East), Mumbai – 400063, Maharashtra, India to the
present w.e.f.31.12.2012.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. in Millions) |
|
|
Counter guarantee given to the banks against guarantees issued by them
|
2.560 |
2.560 |
|
Unexpired Letters of Credit issued by banks |
7.959 |
31.144 |
|
Disputed Excise/ Custom Duty |
7.950 |
7.950 |
|
Disputed Sales Tax Liability |
7.624 |
9.591 |
FIXED ASSETS:
Ø Freehold Land
Ø Leasehold Land
Ø Building
Ø Plant and Machinery
Ø Electrical Installation
Ø Furniture and Fixture
Ø Office Equipment
Ø Vehicles
Ø Computer Software
Ø Capital work in progress
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. 58.93 |
|
|
1 |
Rs. 91.81 |
|
Euro |
1 |
Rs. 78.18 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.