MIRA INFORM REPORT
|
Report Date : |
27.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
R R KABEL LIMITED |
|
|
|
|
Registered
Office : |
Ram Ratna House, Victoria Mill Compound Pandurang, Budhkar Marg, Worli,
Mumbai-400013, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
06.02.1995 |
|
|
|
|
Com. Reg. No.: |
11-085294 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.204.460 Millions
|
|
|
|
|
CIN No.: [Company Identification
No.] |
U28997MH1995PLC085294 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR08449A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCR3352C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Building Wires, Industrial Cables, Winding Wires,
Power Outlet Systems, Copper Flats etc. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5011000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of “Ram Ratna Group”. It is an established company having satisfactory track record. There appears
a significant increase in the sales turnover as well as net profitability
during 2012. The networth position appears to be good. Trade relations are fair. Business is active. Payment terms are
usually correct. In view of experienced promoters and directors, 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 Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
31.12.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A2 [Shot Term] |
|
Rating Explanation |
Strong degree of safety and low credit |
|
Date |
31.12.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
|
Name : |
Mr. Rajesh Jain |
|
Designation : |
Finance Controller |
|
Contact No.: |
91-22-24924144 |
|
Date : |
26.07.2013 |
LOCATIONS
|
Registered Office : |
Ram Ratna House, Victoria Mill Compound Pandurang, Budhkar Marg,
Worli, Mumbai-400013, Maharashtra, India
|
|
Tel. No.: |
91-22-24949009/24924144 |
|
Fax No.: |
91-22-24910819/24912586 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Located At:
|
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Tribhuvanprasad Rameshwarlal Kabra |
|
Designation : |
Managing Director |
|
Address : |
Uma Sadan, 178, Vinayak Society, Opposite S.N.D.T. College and Sanskrit
Building Behind, Akota Stadium, Baroda-390020, Gujarat, India |
|
Date of Birth/Age : |
11.06.1955 |
|
Date of Appointment : |
02.09.1997 |
|
Din No.: |
00091375 |
|
|
|
|
Name : |
Mr. Satyanarayan Mohanlal Loya |
|
Designation : |
Director |
|
Address : |
1502, Krishna Heritage, New Link Road, Opposite Don Bosco School,
Borivali (West), Mumbai-400091, Maharashtra, India |
|
Date of Birth/Age : |
05.04.1930 |
|
Date of Appointment : |
30.09.1997 |
|
Din No.: |
00091323 |
|
|
|
|
Name : |
Mr. Mahendrakumar Rameshwarlal Kabra |
|
Designation : |
Whole Time Director |
|
Address : |
Casa Grande, Tower No. 2, 20th Floor, Flat No. 2008, 249,
Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India |
|
Date of Birth/Age : |
13.05.1957 |
|
Date of Appointment : |
06.02.1995 |
|
Din No.: |
00473310 |
|
|
|
|
Name : |
Mrs. Kirtidevi Shreegopal Kabra |
|
Designation : |
Director |
|
Address : |
Uma Sadan, 178, Vinayak Society, Opposite S.N.D.T. College and Sanskrit
Building Behind, Akota Stadium, Baroda-390020, Gujarat, India |
|
Date of Birth/Age : |
23.02.1962 |
|
Date of Appointment : |
06.02.1995 |
|
Din No.: |
00150796 |
|
|
|
|
Name : |
Mr. Ashok Satyanarayan Loya |
|
Designation : |
Director |
|
Address : |
1502, Krishna Heritage, New Link Road, Opposite Don Bosco School,
Borivali (West), Mumbai-400091, Maharashtra, India |
|
Date of Birth/Age : |
03.05.1965 |
|
Date of Appointment : |
08.09.1999 |
|
Din No.: |
00136619 |
|
|
|
|
Name : |
Mr. Mahesh Tribhuvanprasad Kabra |
|
Designation : |
Whole Time Director |
|
Address : |
Uma Sadan, 178, Vinayak Society, Opposite S.N.D.T. College and
Sanskrit Building Behind, Akota Stadium, Baroda-390020, Gujarat, India |
|
Date of Birth/Age : |
23.03.1977 |
|
Date of Appointment : |
11.03.2000 |
|
Din No.: |
00137796 |
|
|
|
|
Name : |
Mr. Sumeet Mahendrakumar Kabra |
|
Designation : |
Director |
|
Address : |
B-1908, Casa Grande, Senapati Bapat Marg, Lower Parel, Mumbai-400013,
Maharashtra, India |
|
Date of Birth/Age : |
10.08.1982 |
|
Date of Appointment : |
12.11.2010 |
|
Din No.: |
01751282 |
|
|
|
|
Name : |
Mr. Sanjay Narnarayan Taparia |
|
Designation : |
Director |
|
Address : |
152, Yugdharma, Opposite Inorbit Link Road, Goregaon (West), Mumbai-400104,
Maharashtra, India |
|
Date of Birth/Age : |
10.07.1963 |
|
Date of Appointment : |
12.11.2010 |
|
Din No.: |
01812564 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh Jain |
|
Designation : |
Finance Controller |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
9.29 |
|
Directors
or relatives of directors |
|
90.71 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Building Wires, Industrial Cables, Winding Wires,
Power Outlet Systems, Copper Flats etc. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Installed
Capacity |
Actual
Production |
|
Finished goods various types of cables (Unit in Core Kilometer) |
758000 |
627203 |
NOTE:
(i) Installed
Capacity is as per the certificate given by the management based on triple
shift operation.
(ii) Production of
Cables is exempted from the licensing requirement under the new Industrial
Policy.
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
Bankers : |
Not Available |
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|
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|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution: |
IDBI Trusteeship Services Limited, Asian Building, Ground Floor, 17, R.K.
Kamani Marg, Ballard Estate, Mumbai-400001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
V.C. Darak and Associates Chartered Accountants |
|
Address : |
Yashodhan, 1st Floor, Malviya Road, Off. Post Office Road, Vile
Parle (East), Mumbai-400057, Maharashtra, India |
|
PAN No: |
AAAPD8698K |
|
|
|
|
Other Related Parties : |
|
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20446000 |
Equity Shares |
Rs.10/- each
|
Rs.204.460
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 |
|
204.460 |
204.460 |
|
(b) Reserves & Surplus |
|
1048.323 |
860.741 |
|
(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) |
|
1252.783 |
1065.201 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
|
727.474 |
315.392 |
|
(b) Deferred tax
liabilities (Net) |
|
75.633 |
44.253 |
|
(c)
Other long term liabilities |
|
0.113 |
0.089 |
|
(d)
long-term provisions |
|
6.336 |
5.463 |
|
Total
Non-current Liabilities (3) |
|
809.556 |
365.197 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
1752.315 |
1417.687 |
|
(b)
Trade payables |
|
111.523 |
90.883 |
|
(c)
Other current liabilities |
|
204.104 |
110.193 |
|
(d)
Short-term provisions |
|
95.220 |
57.611 |
|
Total
Current Liabilities (4) |
|
2163.162 |
1676.374 |
|
|
|
|
|
|
TOTAL |
|
4225.501 |
3106.772 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
1026.662 |
462.312 |
|
(ii)
Intangible Assets |
|
10.490 |
1.326 |
|
(iii)
Capital work-in-progress |
|
144.774 |
360.227 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(v) foreign currency monetary item
translation difference asset account |
|
0.396 |
0.000 |
|
(b)
Non-current Investments |
|
65.088 |
29.127 |
|
(c)
Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
115.264 |
79.985 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
1362.674 |
932.977 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
666.819 |
479.050 |
|
(c)
Trade receivables |
|
1540.887 |
1199.595 |
|
(d)
Cash and cash equivalents |
|
425.855 |
374.091 |
|
(e)
Short-term loans and advances |
|
227.825 |
121.059 |
|
(f)
Other current assets |
|
1.441 |
0.000 |
|
Total
Current Assets |
|
2862.827 |
2173.795 |
|
|
|
|
|
|
TOTAL |
|
4225.501 |
3106.772 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
204.460 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
715.648 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
920.108 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
715.923 |
|
|
2] Unsecured Loans |
|
|
249.483 |
|
|
TOTAL BORROWING |
|
|
965.406 |
|
|
DEFERRED TAX LIABILITIES |
|
|
55.600 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1941.114 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
493.523 |
|
|
Capital work-in-progress |
|
|
3.493 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
27.727 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
378.612 |
|
|
Sundry Debtors |
|
|
806.959 |
|
|
Cash & Bank Balances |
|
|
314.924 |
|
|
Other Current Assets |
|
|
35.849 |
|
|
Loans & Advances |
|
|
150.821 |
|
Total
Current Assets |
|
|
1687.165 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
42.642 |
|
|
Other Current Liabilities |
|
|
77.669 |
|
|
Provisions |
|
|
150.483 |
|
Total
Current Liabilities |
|
|
270.794 |
|
|
Net Current Assets |
|
|
1416.371 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1941.114 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8038.857 |
5895.118 |
4263.745 |
|
|
|
Other Income |
31.867 |
14.777 |
6.726 |
|
|
|
TOTAL (A) |
8070.724 |
5909.895 |
4270.471 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
6876.212 |
5084.461 |
|
|
|
|
Employee benefit expense |
184.142 |
143.815 |
3807.141 |
|
|
|
Other expenses |
505.259 |
391.003 |
|
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(147.706) |
(111.557) |
|
|
|
|
TOTAL (B) |
7417.907 |
5507.722 |
3807.141 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
652.817 |
402.173 |
463.330 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
189.373 |
86.275 |
51.125 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
463.444 |
315.898 |
412.205 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
72.657 |
60.461 |
55.907 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
390.787 |
255.437 |
356.298 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
131.917 |
66.312 |
609.670 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
258.870 |
189.125 |
253.372 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
660.726 |
530.633 |
356.804 |
|
|
|
|
|
|
|
|
|
Add |
ADJUSTMENT OF
DEFERRED TAX OF EARLIER YEAR |
0.000 |
3.652 |
0.000 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
30.000 |
15.000 |
18.500 |
|
|
|
Proposed Dividend |
61.338 |
40.892 |
40.892 |
|
|
|
Tax on Dividend |
9.951 |
6.792 |
6.792 |
|
|
BALANCE CARRIED
TO THE B/S |
818.307 |
660.726 |
543.992 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1917.924 |
1594.052 |
1274.540 |
|
|
TOTAL EARNINGS |
1917.924 |
1594.052 |
1274.540 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
458.011 |
493.190 |
|
|
|
Capital Goods |
NA |
131.277 |
12.896 |
|
|
|
Machinery and Spares |
NA |
0.039 |
0.984 |
|
|
TOTAL IMPORTS |
NA |
589.327 |
507.070 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
12.66 |
9.25 |
12.39 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.21
|
3.20 |
5.93 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.86
|
4.33 |
8.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.73
|
9.40 |
16.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
0.23 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.97
|
1.63 |
1.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32
|
1.30 |
6.23 |
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 |
111.523 |
90.883 |
42.642 |
|
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 |
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] |
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 |
OPERATIONS:
Even after
uncertainty in International and Domestic market, the company has registered
highest production of 7,92,680 CKM compared to previous year’s 6,27,202 CKM thereby
posting an increase of 26.38%. Similarly, the company has posted Gross Revenue
from Operations Income of Rs. 8476.900 Millions, as against Rs. 6218.500
Millions in previous year, higher by 36.32%.
Financial Year
2011-12 proved a flourishing and eventful year for the Company with further
momentum in improving operational efficiencies and undertaking several new
initiatives. The Middle East Crisis, uncertainty of European Economy, huge
fluctuations in LME rate of Coppers, adverse domestic and international
conditions had a great impact on market. However, in spite of all this, the
Company has posted remarkable Net Profit after Tax of Rs. 258.800 Millions
against the previous year’s Net Profit of Rs. 189.100 Millions, higher by
36.86%.
OUTLOOK:
The world today is
more uncertain and volatile than any time before. Although the prospects and
future of Wires and Cables Industry in India and many developing economies are
brighter today, there are several challenges before the world that needs to be
addressed. There is an increased competition for natural resources,
increasingly volatile and uncertain economic as well as a fragile
socio-political environment, weakened Rupee and a shadow of high inflation. RBI
had to intervene on several occasions this year to hike its policy interest
rate to control inflation.
The achieved
Growth of the Company during the year was driven by the improvement shown by
construction and automobile sectors. The long term outlook for Cables
Industries remains positive, since the economic growth of the country depends
on industrial and infrastructural development. The Company continues to
participate in accelerating economic growth and giving customers and
stakeholders the benefits of the technology and values.
EXPANSION:
The Directors are
pleased to inform you that the company has completed major expansion in
Financial Year 2011-12 and performances in all the segments of the Waghodia
plant have been quite satisfactory as per plan. The company has introduced
high-quality of Silicon Rubber Cables, Fire Alarm Cables, Battery Cables and
Aluminum Cables. The Company’s products are strongly placed in the market due
to their superior quality which gives them a distinct edge over competitors.
Further, the
company has decided to invest $ 14 Lacs in a Joint Venture Company in
Bangladesh which would manufacture enameled wire, cables and enameled strips.
The Commercial production is likely to commence in and around September, 2012.
The Company has so far made an investment of $ 9.62 Lacs.
FIXED ASSETS:
- Land Freehold
- Factory Building
- Workers Quarter
- Plant and Machinery
- Electric Installations
- Furniture and Fixtures
- Office and Other Equipments
- Vehicles
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.59.85 |
|
|
1 |
Rs.92.30 |
|
Euro |
1 |
Rs.78.23 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.