MIRA INFORM REPORT
|
Report Date : |
12.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
NED ENERGY LIMITED |
|
|
|
|
Registered
Office : |
213, Sabri Kachgam, Daman and Diu – 396210 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
11.12.1998 |
|
|
|
|
Com. Reg. No.: |
56-004665 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 65.806 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909DD1998PLC004665 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN8053B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Seller of Lead Acid Storage Batteries |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (58) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 2800000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Time Technoplast” a well known
manufacturer of polymer products. It is an established company having good
track record. The profitability of the company has seen a drastic dip. However, the
financial and liquidity position appears to be healthy. Promoters and directors are reported as well experienced and
respectable businessmen. Trade relations are fair. Business is active. Payment terms are
reported as regular and as per commitments. In view of reputed parent company the subject can be considered good
for business dealings. |
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
= A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
31.03.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term
Rating = A- |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk. |
|
Date |
31.03.2012 |
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.
LOCATIONS
|
Registered Office : |
213, Sabri Kachgam, Daman and Diu - 396210, India |
|
Tel. No.: |
91-22-28570302 |
|
Fax No.: |
91-22-28575672 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Survey No. 823 and 827, Medchal(V and M) Ranga Reddy District, Medchal
- |
|
Tel. No.: |
91-8418-223510/223393 |
|
Fax No.: |
91-8418-224542/223393 |
|
|
|
|
Branch Office 1 : |
6-3-1109/1, Navabharat Chambers, Raj |
|
|
|
|
Branch Office 2 : |
Located
at:
|
DIRECTORS
As on 15.09.2012
|
Name : |
Mr. Anil Paraslal Jain |
|
Designation : |
Director |
|
Address : |
311I312, Lokhandwala Complex, Andheri (West), Mumbai – 400053,
Maharashtra, India |
|
Date of Birth/Age : |
03.01.1955 |
|
Date of Appointment : |
29.09.207 |
|
DIN No.: |
00183364 |
|
|
|
|
Name : |
Mr. Bharat Kumar Ratanlal Vageria |
|
Designation : |
Director |
|
Address : |
101i102, Nandalaya Khandalwal Complex, Evershine Nagar, Malad (West), Mumbai, Maharashtra, India |
|
Date of Birth/Age : |
10.12.1959 |
|
Date of Appointment : |
29.09.2007 |
|
DIN No.: |
00183629 |
|
|
|
|
Name : |
Mr. Shaik Abdul Gaffoor |
|
Designation : |
Whole-Time Director |
|
Address : |
G-5, Kamakshi Residency, Plot No 36, IDPL Colony, Balanagar, Hyderabad – 500037, Andhra Pradesh, India |
|
Date of Birth/Age : |
01.01.1961 |
|
Date of Appointment : |
27.04.2007 |
|
DIN No.: |
01479844 |
|
|
|
|
Name : |
Mr. Gautam Kumar Nedurumalli |
|
Designation : |
Director |
|
Address : |
Plot No 3031, Road No 25, Jubllee Hills, Hyderabad – 500082, Andhra
Pradesh, India |
|
Date of Birth/Age : |
27.10.1968 |
|
Date of Appointment : |
11.12.1998 |
|
DIN No.: |
00098735 |
|
|
|
|
Name : |
Mr. Gyanesh Narayan Mathur |
|
Designation : |
Director |
|
Address : |
117-H-11, N Block, Kakadeo Kda Colony, Kanpur – 208025, Uttar Pradesh,
India |
|
Date of Birth/Age : |
15.11.1944 |
|
Date of Appointment : |
29.09.2007 |
|
DIN No.: |
00525324 |
|
|
|
|
Name : |
Mr. Sanjaya Shrikrishna Kulkarni |
|
Designation : |
Director |
|
Address : |
Ai12, Technocrat Co-Operative Housing Society, Near Twin Tower,
Prabhadevi, Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
30.05.1949 |
|
Date of Appointment : |
29.09.2007 |
|
DIN No.: |
00102575 |
|
|
|
|
Name : |
Mr. Ashok Kumar Shukla |
|
Designation : |
Director |
|
Address : |
924, 7th Cross, Gokula I Stage, I Phase, Mathikere, |
|
Date of Birth/Age : |
03.02.1947 |
|
Date of Appointment : |
03.04.2009 |
|
DIN No.: |
02682124 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 15.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Time Technoplast Limited, India |
|
4671858 |
|
Anil Jain |
|
100 |
|
Bharat Vageria |
|
100 |
|
Raghupathy Thyagarajan |
|
100 |
|
Naveen Jain |
|
100 |
|
N. Gautam |
|
1515900 |
|
S.A. Gaffoor |
|
195100 |
|
Vishwalaxmi Trading And Finance Private Limited, India |
|
197387 |
|
Total |
|
6580645 |
As on 15.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
74.00 |
|
Directors or relatives of Directors |
26.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of Lead Acid Storage Batteries |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS
|
Particulars |
Unit |
31.03.2011 |
|
Installed
Capacity |
Sets |
20000 |
|
Actual
Production |
Sets |
14494 |
Note: The installed capacity represents the capacity as at 31st March'20ll The Capacities are as estimated and certified by the management
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
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|
Bankers : |
|
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Shah and Taparia Chartered Accountants |
|
Address : |
12, Navjeevan Wadi, Dhobi Talao, Mumbai - 400 002, Maharashtra, India |
|
PAN No.: |
AAOFS0663D |
|
|
|
|
Holding Company : |
Time Technoplast Limited |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
|
|
|
|
|
Subsidiaries : |
|
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22500000 |
Equity Shares |
Rs.10/- each |
Rs.225.000 Millions |
|
10000000 |
Preference Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
Total |
|
Rs.325.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6580645 |
Equity Shares |
Rs.10/- each |
Rs.65.806
Millions |
|
|
|
|
|
Disclosure of
shareholding more than five per cent in company
|
Name of shareholder |
Number of shares held in company |
Percentage of shareholding in company |
|
Time Technoplast Limited |
4672258 |
71.00% |
|
N. Gautam |
1515900 |
23.00% |
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 |
|
65.806 |
65.806 |
|
(b) Reserves & Surplus |
|
650.481 |
620.078 |
|
(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 |
|
287.295 |
160.730 |
|
(b) Deferred tax liabilities (Net) |
|
38.375 |
36.473 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
|
269.395 |
124.198 |
|
(b) Trade payables |
|
204.760 |
340.912 |
|
(c) Other current liabilities |
|
61.889 |
59.301 |
|
(d) Short-term provisions |
|
3.052 |
88.215 |
|
TOTAL |
|
1581.053 |
1495.713 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
340.690 |
362.483 |
|
(ii) Intangible Assets |
|
2.706 |
2.596 |
|
(iii) Capital work-in-progress |
|
74.761 |
35.601 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
51.601 |
117.174 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
151.355 |
9.163 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
467.181 |
417.285 |
|
(c) Trade receivables |
|
315.467 |
413.636 |
|
(d) Cash and cash equivalents |
|
27.816 |
48.273 |
|
(e) Short-term loans and advances |
|
143.027 |
79.223 |
|
(f) Other current assets |
|
6.449 |
10.279 |
|
TOTAL |
|
1581.053 |
1495.713 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
65.806 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
577.356 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
643.162 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
270.946 |
|
|
2] Unsecured Loans |
|
|
82.790 |
|
|
TOTAL BORROWING |
|
|
353.736 |
|
|
DEFERRED TAX LIABILITIES |
|
|
28.772 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1025.670 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
320.116 |
|
|
Capital work-in-progress |
|
|
36.883 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
65.579 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
443.633 |
|
|
Sundry Debtors |
|
|
313.698 |
|
|
Cash & Bank Balances |
|
|
79.248 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
181.084 |
|
Total
Current Assets |
|
|
1017.663 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
317.438 |
|
|
Other Current Liabilities |
|
|
17.964 |
|
|
Provisions |
|
|
79.169 |
|
Total
Current Liabilities |
|
|
414.571 |
|
|
Net Current Assets |
|
|
603.092 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1025.670 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1175.277 |
1611.494 |
1723.605 |
|
|
|
Other Income |
0.393 |
0.350 |
1.219 |
|
|
|
TOTAL (A) |
1175.670 |
1611.844 |
1724.824 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
781.395 |
|
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(40.430) |
(101.580) |
1400.342 |
|
|
|
Employee benefit expense |
49.221 |
55.268 |
|
|
|
|
Other expenses |
242.763 |
254.501 |
|
|
|
|
Prior period |
(0.433) |
0.070 |
|
|
|
|
TOTAL (B) |
1032.516 |
1358.875 |
1400.342 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
143.154 |
252.969 |
324.482 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
56.183 |
47.996 |
29.495 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
86.971 |
204.973 |
294.987 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
27.900 |
25.814 |
22.733 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
59.071 |
179.159 |
272.254 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
16.903 |
59.700 |
94.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
42.168 |
119.459 |
177.454 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
256.760 |
234.037 |
161.573 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
20.000 |
28.000 |
|
|
|
Dividend (including Tax on Dividend) |
NA |
76.736 |
76.990 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
256.760 |
234.037 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
39.669 |
10.831 |
7.288 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.41 |
18.14 |
26.97 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.59
|
7.41 |
10.29 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.03
|
11.12 |
15.80 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.06
|
13.34 |
20.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.26 |
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.78
|
0.42 |
0.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.78
|
1.58 |
2.45 |
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 |
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 |
No |
|
10] |
Designation of contact person |
No |
|
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 |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
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 |
PERFORMANCE:
The company has achieved Gross sales of Rs.1289.905 Millions during the year as against Rs. 1770.462 Millions in the previous year.
Profit after tax for the year stood at Rs. 42.168 Millions as against Rs. 119.459 Millions in the previous year.
The under performance in the current year is due to significant slow down in network expansion and upgradation plans in Telecom sector. Lack of growth in 3G businesses and delay in roll out of Broad band wireless Access (BWA) networks also affected the growth in Telecom business.
During the year, the Company introduced “MAX PERF” Advanced Hybrid VRLA Batteries for meeting high operating temperatures in outdoor applications. The Company has received encouraging response from Customers for the above products.
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long-term
borrowings |
|
|
|
Deferred payment Liabilities-Interest free sales tax deferment |
82.790 |
82.790 |
|
Other loans and advances |
0.000 |
2.399 |
|
Total |
82.790 |
85.189 |
|
Interest free sales tax deferment Deferred payment liability represents 14 years interest free sales tax deferment loan received from Government of Andhra Pradesh. Repayment Commences from March 31,2015 based on the deferment availed in the respective year. |
||
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U31909DD1998PLC004665 |
|
Name of the
company |
NED ENERGY
LIMITED |
|
Address of the
registered office or of the principal place of business in |
213, Sabri Kachgam, Daman and Diu – 396210 |
|
This form is for |
Creation of charge |
|
Type of charge |
|
|
Particular of
charge holder |
State Bank of India, Industrial Finance Branch, Raj Bhavan Road,
Somajiguda, Hyderabad - 500082, Andhra Pradesh, India |
|
Nature of
instrument creating charge |
Agreement of Hypothecation of Goods and Assets dtd
12.3.2013 Agreement of loan
for over all limit for Rs 5 crores dated 12.3.2013 Letter regarding granting
of individual limits within over all limits dated 12.3.2013 |
|
Date of
instrument Creating the charge |
12.03.2013 |
|
Amount secured by
the charge |
Rs.50.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 1% above
applicable interest rate on Fund Based Working Capital Limited i.e. 11.20% Terms of Repayment As per the
sanction terms Margin Raw Material -
25% (domestic and
imported) Work in Progress-
25% Finished Goods-
25% Receivable - 25% Extent and Operation of the charge First charge on
the present and future current assets
of the Company ranking pari passu with the
other Working Lenders Second charge on
the present and future movable fixed assets of the Company ranking pari passu
with the other Working Capital lenders. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All present , future goods, Book Debts and all other movable assets of the Borrower lying stored and kept and whether in possession or under the control of the Borrower whereever lying stored and kept, whether in possession of the Borrower or of the Bank or of any third party whether in or elsewhere throughout the world ( including all such goods, other movable assets as may be in course in course of shipment transit or delivery) |
FIXED ASSETS
- Buildings
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
- Office Equipment
- Computer 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 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
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
58 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.