MIRA INFORM REPORT
|
Report Date : |
27.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
ALTAIR INDUSTRIAL TECHNOLOGIES PRIVATE LIMITED [w.e.f.13.01.2012] |
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|
|
|
Formerly Known
As : |
ALTAIR INDUSTRIAL CONSUMABLES PRIVATE LIMITED |
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|
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Registered
Office : |
901, Onyx, 9th
Floor, North Main Road Extension, Koregaon Park, Pune – 411001, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.12.2010 |
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Date of
Incorporation : |
22.01.2003 |
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Com. Reg. No.: |
11-017617 |
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Capital
Investment / Paid-up Capital : |
Rs. 4.810 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299PN2003PTC017617 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEA05227F |
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PAN No.: [Permanent Account No.] |
AAECA0842R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Industrial Consumables like Fire Retardant Paints. |
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No. of Employees
: |
22 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 85000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The latest financials are not available. As per the of December 2012,
we found that the company has performed well and earned better profits. However,
the external borrowings have increased over earlier year. Trade relations are reported as fair. Business is active. Payment
terms are unknown. The company can be considered for business dealings with slight
caution. |
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 |
ICRA |
|
Rating |
SE 1B |
|
Rating Explanation |
Highest performance capability and moderate
financial strength. |
|
Date |
April 15, 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. Vishwas Butkar |
|
Designation : |
Finance Department |
|
Contact No.: |
91-20-66031114 |
|
Date : |
13.06.2013 |
LOCATIONS
|
Registered Office : |
901, Onyx, 9th
Floor, North Main Road Extension, Koregaon Park, Pune – 411001, Maharashtra,
India |
|
Tel. No.: |
91-20-66031114 |
|
Fax No.: |
91-20-66010176 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
DIRECTORS
AS ON 30.06.2012
|
Name : |
Mr. Anil Anand |
|
Designation : |
Director |
|
Address : |
5, Shad Bedar, 12, Boat
Club Road, Pune - 411001, Maharashtra, India |
|
Date of Birth/Age : |
20.12.1954 |
|
Date of Appointment : |
22.01.2003 |
|
DIN No.: |
02073707 |
|
Other Directorship : |
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|
|
|
|
Name : |
Mrs. Sheila Anand |
|
Designation : |
Director |
|
Address : |
G 4, Palm Springs, Cuff
Parade, Colaba, Mumbai – 400005, Maharashtra, India |
|
Date of Birth/Age : |
29.07.1923 |
|
Date of Appointment : |
04.03.2005 |
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DIN No.: |
02099187 |
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Other Directorship : |
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|
|
|
|
Name : |
Mr. Anoop Anil Anand |
|
Designation : |
Director |
|
Address : |
5, Shad Bedar, 12, Boat
Club Road, Pune - 411001, Maharashtra, India |
|
Date of Birth/Age : |
30.01.1982 |
|
Date of Appointment : |
04.03.2005 |
|
DIN No.: |
02100663 |
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Other Directorship : |
|
|
|
|
|
Name : |
Mrs. Anuradha Anil Anand |
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Designation : |
Director |
|
Address : |
5, Shad Bedar, 12, Boat
Club Road, Pune - 411001, Maharashtra, India |
|
Date of Birth/Age : |
25.05.1958 |
|
Date of Appointment : |
22.01.2003 |
|
DIN No.: |
02100716 |
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Other Directorship : |
|
KEY EXECUTIVES
|
Name : |
Mr. Vishwas Butkar |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2012
|
Names of Shareholders |
|
No. of Shares |
|
Anuradha Anand |
|
474300 |
|
Anisha Anand |
|
98100 |
|
Anil Anand |
|
693600 |
|
Sheila Anand |
|
177000 |
|
Anoop Anand |
|
67000 |
|
|
|
|
|
Total |
|
1510000 |
AS ON 15.10.2012
|
Names of Allottee |
|
No. of Shares |
|
Cnsilience Engineering Private Limited, India |
|
470000 |
|
|
|
|
|
Total |
|
470000 |
AS ON 15.10.2012
|
Names of Allottees |
|
No. of Shares |
|
Anuradha Anand |
|
222400 |
|
Anil Anand |
|
1739800 |
|
Anoop Anand |
|
1057800 |
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|
|
|
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Total |
|
3020000 |
AS ON 30.06.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Industrial Consumables like Fire Retardant Paints. |
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Imports : |
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Products : |
Finished Goods |
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Countries : |
Ø USA |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Others |
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No. of Employees : |
22 (Approximately) |
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Bankers : |
Bank of India, Koregaon Park Branch, 285/3 Ladkat Plaza, Ghat Road, Koregaon Park, Pune - 411001, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Kishor Shetty and Company Chartered Accountants |
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Address : |
122, Sterling Centre, 11, Moledina Road, Pune – 411001, Maharashtra,
India |
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Tel. No.: |
91-20-66011296 |
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Income-tax
PAN of auditor or auditor's firm : |
ADXPS4421K |
CAPITAL STRUCTURE
AFTER 30.06.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
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|
|
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AS ON 31.12.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600,000 |
Equity Shares |
Rs. 10/- each |
Rs. 6.000 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
481,000 |
Equity Shares |
Rs. 10/- each |
Rs. 4.810 Millions |
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|
|
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|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2010 [9 Months] |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4.810 |
4.810 |
4.810 |
|
|
2] Share Application Money |
0.000 |
0.350 |
0.000 |
|
|
3] Reserves & Surplus |
16.329 |
7.232 |
4.015 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
21.139 |
12.392 |
8.825 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
28.538 |
13.085 |
17.246 |
|
|
2] Unsecured Loans |
0.132 |
0.244 |
0.377 |
|
|
TOTAL BORROWING |
28.670 |
13.329 |
17.623 |
|
|
DEFERRED TAX LIABILITIES |
0.039 |
0.048 |
0.029 |
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|
|
|
|
|
|
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TOTAL |
49.848 |
25.769 |
26.477 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.958 |
4.529 |
3.692 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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|
|
|
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INVESTMENT |
1.741 |
1.391 |
0.836 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
20.684
|
7.859 |
6.960 |
|
|
Sundry Debtors |
16.844
|
16.255 |
14.023 |
|
|
Cash & Bank Balances |
1.132
|
0.140 |
0.251 |
|
|
Other Current Assets |
21.979
|
11.899 |
7.354 |
|
|
Loans & Advances |
11.262
|
3.882 |
1.526 |
|
Total
Current Assets |
71.901
|
40.035 |
30.114 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
10.938 |
2.909 |
|
|
Other Current Liabilities |
10.181
|
0.225 |
0.725 |
|
|
Provisions |
17.571
|
9.023 |
4.531 |
|
Total
Current Liabilities |
27.752
|
20.186 |
8.165 |
|
|
Net Current Assets |
44.149
|
19.849 |
21.949 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
49.848 |
25.769 |
26.477 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2010 [9 Months] |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
82.053 |
73.664 |
33.714 |
|
|
|
Other Income |
0.451 |
0.407 |
0.328 |
|
|
|
TOTAL (A) |
82.504 |
74.071 |
34.042 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of goods sold |
|
26.801 |
10.810 |
|
|
|
Direct Expenses |
|
10.831 |
3.813 |
|
|
|
Indirect Expenses |
|
27.250 |
12.917 |
|
|
|
Preliminary Expenses w/off |
|
0.000 |
0.580 |
|
|
|
Deferred Expenses w/off |
|
0.000 |
0.117 |
|
|
|
Non operative/ Extra-ordinary Expenditure |
|
0.866 |
(0.009) |
|
|
|
TOTAL (B) |
67.346 |
65.748 |
28.228 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
15.158 |
8.323 |
5.814 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.152 |
1.232 |
1.735 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
14.006 |
7.091 |
4.079 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.883 |
1.123 |
0.592 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
13.123 |
5.968 |
3.487 |
|
|
|
|
|
|
|
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|
Less |
TAX (H) |
3.969 |
2.878 |
1.029 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
9.154 |
3.956 |
2.458 |
|
|
|
|
|
|
|
|
|
|
DEFERRED TAX
EXPENDITURE |
NA |
(0.018) |
0.150 |
|
|
|
|
|
|
|
|
|
|
PROVISION FOR
FBT |
NA |
0.000 |
(0.220) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
3.938 |
2.388 |
|
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|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
19.03 |
7.63 |
5.11 |
|
|
Particulars |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
Sales Turnover (Approximately) |
300.000 |
366.800 |
820.000 |
|
|
[Due to Business
increase] |
|
|
Expected Sales (2013-2014): Rs. 700.000 Millions
The above information has been parted by Mr. Vishwas Butkar [Finance
Department]
KEY RATIOS
|
PARTICULARS |
|
31.12.2010 [9 Months] |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
11.10
|
5.34 |
7.22 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
16.00
|
8.10 |
10.34 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.30
|
13.39 |
10.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.62
|
0.48 |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.36
|
1.08 |
2.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.59
|
1.98 |
3.69 |
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 |
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% |
Yes |
|
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 |
No |
|
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 |
31.12.2010 [9 Months] |
31.03.2010 |
|
|
(Rs. In Millions) |
|
|
Citibank Loan |
0.132 |
0.244 |
|
Total |
0.132 |
0.244 |
Note:
The registered office of the company has been shifted from 501, Winterberry
Lane 8, Koregaon Park, Pune – 411001, Maharashtra, India to the present
w.e.f.08.08.2011.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U29299PN2003PTC017617 |
|
Name of the
company |
ALTAIR INDUSTRIAL
TECHNOLOGIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
901, Onyx, 9th
Floor, North Main Road Extension, Koregaon Park, Pune – 411001, Maharashtra,
India Email: anil.anand@altair.in |
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
90092226 |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) Others [Stock in all its elements, P and M, Spares & Equipments] |
|
Particular of
charge holder |
Bank of India, Koregaon Park Branch, 285/3 Ladkat Plaza, Ghat Road, Koregaon Park, Pune - 411001, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Indenture of
Mortgage (without possession) of Immovable Properties executed between the
Bank and Borrower Company to facilitate to cover the enhanced credit
facilities extended by the Bank which is simultaneously registered with the
Revenue Authorities Joint Sub Registar Haveli-21 under registration
number-Haval-21 2235-2013. |
|
Date of
instrument Creating the charge |
30.03.2013 |
|
Amount secured by
the charge |
Rs. 372.400
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest TL: 3.75% over BR
effective rate: 14.00%p.a with monthly rests. CC (Stocks): 3.00% over BR.
Effective Rate: 13.25% p.a. For CC (Book Debts120days) 3.00% over BR.
Effective Rate: 13.50% with monthly rests. Terms of Repayment WC/LC/BG/Buyers
Credit /Bills Discount: On Demand. Term Loan is to be repaid in 84 monthly
installments of Rs.0.120 Million each commencing from April 2011 with
repayment holiday of 3 months. Door to Door tenor 87months. Interest in Term
Loan to be serviced during moratorium and during tenure of the loan as and
when applied. Penal Interest on default as per RBI's Directives. Margin Term
Loan:26%,Stocks-25% Book Debts (Cover period 120 days):30% Extent and Operation of the charge BOI Koregaon park
Br. will have first charge against all the present and future current assets
inclusive of Stock and Book debts.The Company has extended the additional
security of immovable properties through execution of Registered Indenture of
Mortgage (without possession)in favour of Bank. Directors S/s.AO Anand, Anoop
Anand and Sushri Anuradha Anand, Anisha Anand and Shaila Anand has set
Personal Guarantee for the repayment of entire loan with interest thereon.The
Charge will be in continuous mode. Others The Company, by
virtue of the Board Resolution passed on 06/03/2013, has given assent to all
the Terms and Conditions, Covenants, as provided in the Bank's Sanction
Letter No. KP:ADV/103/Dt.28/02/2013 and have executed the related loan
document(s)/ Agreement(s) through the Director(s), who have received and signed the documents in physical form
and who have been authorized to file eform-8 for the modifications in the
existing limits and in the nature and scope of the charge on agreed terms. |
|
Short particulars
of the property charged |
Exclusive charge
over furniture and fixture at new premises, exclusive charge over Stocks,
Book Debts Pledge of TDRs @ 20% and all the present and future current assets
PandM, Spares located at Works Warehouses located at Gat No.27 Guru Ramdas
Warehousing Complex Nagar Road Wagholi and at Registered Office of the
Borrower Company Apartment No.6 (Flat No.6) admesuring about 1200 sq. ft on
the 3rd floor of Nishant Apartments together with 17.05% undivided share in
the common areas and facilities alongwith car parking admeasuring 150 Sq, ft,
S.No.21A/11A/1 and corresponding Final Plot No.402 of Sangamwadi Town
Planning of Old village within the jurisdiction of PMC together with
furniture and fixture belonging to Shri Anil Anand. Flat No.501 built
up area 1508 Sq ft. on the 5th floor of the building known as 'WINTERBERRY
PURPLE" along with common facilities area constructed on Land bearing
S.No.25/1A,26/13A/1A,26/138/1A and 25/B situated at Village Ghorpadi Tal
Haveli District Pune belonging to S/s.AO Anand,Sushri Anuradha Anand, Shri
Anoop Anand and Sushri Anisha Anand Agri. Land bearing S.No.343 Hissa No 2
adm. about) 0H.70R at Village Valane Taluka Mulshi District Pune belonging to
Shri Anil Omprakash Anand and Second
Mortgaor. Agri. Land bearing S. No. 343 Hissa No 2 adm. about) 0H.42R
at Village Valane Taluka Mulshi District Pune belonging to Shri Anil
Omprakash Anand and Second Mortgaor and Sushri Anuradha Anand. All the immovable
properties as denoted, specified and geographicated as depicted in the
respective schedules to the Indenture of Mortgage duly registered in favour
of Bank |
|
Date of
Modification |
19.11.2012 |
|
Particulars of
the present modification |
By this present modification,
the existing limit of Rs.314.600 Millions (Inclusive of Fund Based Limit of
Rs.74.600 Millions + Non Fund Based Limit of Rs.240.00 Millions) has been
enhanced to Rs.372.400 Millions (Inclusive of Fund Base Limit of Rs.97.400
Millions + Non Fund Based Limit of Rs.275.000 Millions) with the additional
security of immovable properties through Registered Indenture of Mortgage
(Without Possession) simultaneously registered with Revenue Authorities
-Joint Sub Register under Registration No.:HAVAL-21 2235-2013 |
|
|
|
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is or
was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 59.85 |
|
|
1 |
Rs. 92.31 |
|
Euro |
1 |
Rs. 78.23 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
35 |
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.