MIRA INFORM REPORT
|
Report Date : |
30.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
GUJARAT GUARDIAN LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
21.02.1990 |
|
|
|
|
Com. Reg. No.: |
04-13397 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1570.008
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17110GJ1990PLC013397 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDG00749A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG1622K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Float Glass and Other Allied Products. |
|
|
|
|
No. of Employees
: |
3000
(Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
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 20000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is well established company having a good track record.
Financial position of the company appears to be sound. Trade relations are
fair. Business is active. Payments are reported to be regular and as per
commitments. The company can be considered good for normal 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Facilities: (AA) |
|
Rating Explanation |
High degree of safety, it carry very low
credit risk. |
|
Date |
December, 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 : |
Valia Road, State Highway Road, Village Kondh, Ankleshwar, Bharuch –
393001, Gujarat, India |
|
Tel. No.: |
91-2643-275106-09/ 5116/ 275120 |
|
Mobile No.: |
91-9825028086 (Mr. Amitava Aikat) |
|
Fax No.: |
91-2643-275105/ 275116/ 250646 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
4/ 7 C, DDA Shopping Center, New Friends Colony,
New Delhi – 110025, India |
|
Tel. No.: |
91-11-26314007 |
|
Fax No.: |
91-11-26314008 |
|
E-Mail : |
|
|
|
|
|
Factory : |
State Highway - 13, Valia Road, Ankleshwar, Bharuch – 393002, Gujarat,
India |
|
Tel. No.: |
91-2643-275106/ 275120 |
|
Fax No.: |
91-2643-275105/ 275116 |
|
|
|
|
Regional Representatives : |
Located at: · West Bengal · Bihar · Jharkhand · Eastern Uttar Pradesh · Delhi · Punjab · Himachal Pradesh · Kerala · Madhya Pradesh · Tamilnadu · Chattisgarh · Nagpur · Rajasthan · Haryana · Western Uttar Pradesh · Kolkata · Assam · Orissa · Gujarat · Karnataka · Mumbai · Goa · Pune · Andhra Pradesh |
DIRECTORS
(AS ON 30.07.2012)
|
Name : |
Mr. Vinay Kumar Modi |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
55 – A, Friends Colony (East), Delhi – 110065, India |
|
Date of Birth/Age : |
31.05.1943 |
|
Date of Appointment : |
21.02.1990 |
|
DIN No.: |
00274605 |
|
|
|
|
Name : |
Mr. David Lawrence Rose |
|
Designation : |
Managing Director |
|
Address : |
A-1, GGL Colony, Taluka Valia, Village Kondh, Bharuch – 393001,
Gujarat, India |
|
Date of Birth/Age : |
02.10.1945 |
|
Date of Appointment : |
31.01.1992 |
|
DIN No.: |
00321327 |
|
|
|
|
Name : |
Mr. Alok Kumar Modi |
|
Designation : |
Joint Managing Director |
|
Address : |
55 – A, Friends Colony (East), New Delhi – 110065, India |
|
Date of Birth/Age : |
18.06.1966 |
|
Qualification : |
B.E. ( |
|
Date of Appointment : |
21.02.1990 |
|
DIN No.: |
00174374 |
|
|
|
|
Name : |
Mr. Ajit Mal Surana |
|
Designation : |
Finance Director |
|
Address : |
A – 4 GGL Colony, Taluka Valia, Village Kondh, Bharuch, Gujarat –
393001, India |
|
Date of Birth/Age : |
02.08.1950 |
|
Qualification : |
B. Com, F.C.A. |
|
Date of Appointment : |
28.11.1992 |
|
DIN No.: |
00174112 |
|
|
|
|
Name : |
Mr. Charles Gregory Crosky |
|
Designation : |
Director |
|
Address : |
486, East Baffour, |
|
Date of Birth/Age : |
30.07.1947 |
|
Date of Appointment : |
25.05.1992 |
|
DIN No.: |
00321332 |
|
|
|
|
Name : |
Mr. Vasantbhai Shaktidan Gadhavi |
|
Designation : |
Nominee Director of GMDC |
|
Address : |
Plot No.115/2, Sector-2A, Gandhi Nagar – 382007, Gujarat, India |
|
Date of Birth/Age : |
20.01.1953 |
|
Date of Appointment : |
05.12.2009 |
|
DIN No.: |
00159907 |
|
|
|
|
Name : |
Mr. Sanjiv Gupta |
|
Designation : |
Director |
|
Address : |
Plot No.612/1, Villa No.114, Jumeirah 3, |
|
Date of Birth/Age : |
22.07.1965 |
|
Date of Appointment : |
29.11.2005 |
|
DIN No.: |
00288767 |
|
|
|
|
Name : |
Mr. Scott Viggo Thomsen |
|
Designation : |
Director |
|
Address : |
0017, Stoney Creek Drive South Lyon 46174 |
|
Date of Birth/Age : |
25.05.1964 |
|
Date of Appointment : |
16.12.2011 |
|
DIN No.: |
05171585 |
|
|
|
|
Name : |
Mr. Mahavirsingh Ghuresingh Dagur |
|
Designation : |
Nominee Director |
|
Address : |
4, Narmada Colony, Opposite Nirman Society, Alkapuri, Vadodara –
380007, Gujarat, India |
|
Date of Birth/Age : |
15.07.1968 |
|
Date of Appointment : |
29.09.2011 |
|
DIN No.: |
01622222 |
|
|
|
|
Name : |
Mr. Jean Luc Jacques Pitsch |
|
Designation : |
Director |
|
Address : |
91, Rue De Luxembourg, Bertrange 8077 |
|
Date of Birth/Age : |
21.02.1951 |
|
Date of Appointment : |
16.12.2011 |
|
DIN No.: |
05169848 |
KEY EXECUTIVES
|
Name : |
Mr. Ram Bahadur Dadu |
|
Designation : |
Secretary |
|
Address : |
12-B, Royal Shipra Suncity, Indra Puram, |
|
Date of Birth/Age : |
12.04.1960 |
|
Date of Appointment : |
26.11.1994 |
|
PAN No.: |
ABQPD6567N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.07.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Alok Kumar Modi |
|
100 |
|
Ajit Mal Surana |
|
25 |
|
Archana Singhania |
|
25 |
|
Chandra Bala Modi |
|
225 |
|
Cropston Limited,
Douglas, |
|
10580000 |
|
Dharmishta K.
Tanna |
|
100 |
|
Gujarat Alkalies
and Chemicals Limited, |
|
7425000 |
|
Guardian
International Corporation, |
|
78500000 |
|
Gujarat Mineral
Development Corporation Limited, |
|
7425000 |
|
Harlequin
Limited, Douglas, |
|
18500000 |
|
Modi Rubber
Limited, |
|
33350000 |
|
Pratul D. Gandhi |
|
100 |
|
Parul S. Nanabhai |
|
100 |
|
Ritika Alok Modi |
|
25 |
|
Ashok S. Pratap |
|
100 |
|
Mod Fashions and
Securities Private Limited, |
|
1220000 |
|
|
|
|
|
Total |
|
157000800 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Government Companies |
|
9.46 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
68.52 |
|
Bodies corporate |
|
22.02 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Float Glass and Other Allied Products. |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Brand Names : |
“MODIGUARD” |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Licensed Capacity* |
Installed Capacity* |
|
Float Glass |
MT |
Not Applicable |
150000 |
|
Mirror Glass |
Sq. Mtr |
Not Applicable |
4200000 |
|
Particulars |
Unit |
Actual Production (net of cullet reprocessed and
losses) |
|
Float Glass ** |
MT |
193683 |
|
Mirror Glass |
Sq. Mtr |
2841738 |
* The industry has
been de-licensed as per Government of India Notification No.477 (E) dated July 25,
1991. Installed capacity, being a technical matter, is certified by the
management.
** Includes 25,754 MT transferred for mirror
GENERAL INFORMATION
|
No. of Employees : |
3000
(Approximately) |
|
|
|
|
Bankers : |
·
State
Bank of India GIDC Estate,
Ankleshwar – 393002, Gujarat, India ·
·
ABN
Amro Bank N. V. ·
State
Bank of Travancore ·
State
Bank of ·
State
Bank of ·
Bank
of ·
Allahabad
Bank ·
The
Bank of Rajasthan Limited ·
ICICI
Bank Limited ·
Standard Chartered Bank ·
HDFC Bank |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse and Company Chartered Accountants |
|
Address : |
Building 8, 7th and 8th Floor, Tower-B, DLF-Cyber City, Gurgaon – 122002, Haryana, India |
|
PAN No.: |
AABFP9359C |
|
|
|
|
Associates : |
· Guardian Lodio Uno, Spain · Guardian Zoujaj International Float Glass Co LLC, UAE |
|
|
|
|
Other related Parties: |
· Modi Rubber Limited · Mahalaxmi Charitable Society · Guardian International Corporation, USA · Saudi Guardian International Float Glass Company Limited · Guardian Industries Corp., Floreffe · Guardian Llodio Uno, SLU · Guardian Zoujaj International Float Glass Company LLC |
CAPITAL STRUCTURE
(AS ON 30.07.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
175000000 |
Equity Shares |
Rs.10/- each |
Rs.1750.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
157000800 |
Equity Shares |
Rs.10/- each |
Rs.1570.008
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1570.008 |
1570.008 |
1570.008 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3425.370 |
2979.922 |
3051.205 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4995.378 |
4549.930 |
4621.213 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
4.121 |
8.242 |
12.956 |
|
|
TOTAL BORROWING |
4.121 |
8.242 |
12.956 |
|
|
DEFERRED TAX LIABILITIES |
386.526 |
213.584 |
199.460 |
|
|
|
|
|
|
|
|
TOTAL |
5386.025 |
4771.756 |
4833.629 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2203.918 |
2508.995 |
967.496 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
1669.408 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
475.570
|
457.190 |
1964.717
|
|
|
Sundry Debtors |
227.458
|
182.021 |
367.520
|
|
|
Cash & Bank Balances |
2556.397
|
1819.366 |
113.594
|
|
|
Other Current Assets |
0.724
|
0.745 |
23.776
|
|
|
Loans & Advances |
650.889
|
317.690 |
323.758
|
|
Total
Current Assets |
3911.038
|
2777.012 |
2793.365 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
199.440
|
200.597 |
280.615
|
|
|
Other Current Liabilities |
162.478
|
128.404 |
131.854
|
|
|
Provisions |
367.013
|
185.250 |
184.171
|
|
Total
Current Liabilities |
728.931
|
514.251 |
596.640
|
|
|
Net Current Assets |
3182.107
|
2262.761 |
2196.725
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5386.025 |
4771.756 |
4833.629 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
4848.590 |
3448.809 |
4092.282 |
|
|
|
Other Income |
176.039 |
165.188 |
118.592 |
|
|
|
TOTAL (A) |
5024.629 |
3613.997 |
4210.874 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1626.311 |
1081.878 |
|
|
|
|
Purchases of stock-in-trade |
0.000 |
187.949 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
14.505 |
77.595 |
|
|
|
|
Employee benefit expense |
226.283 |
194.839 |
|
|
|
|
Other expenses |
1838.496 |
1697.019 |
|
|
|
|
TOTAL (B) |
3705.595 |
3239.280 |
3246.688 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1319.034 |
374.717 |
964.186 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.688 |
2.558 |
2.775 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1316.346 |
372.159 |
961.411 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
310.386 |
246.847 |
229.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1005.960 |
125.312 |
732.411 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
195.572 |
14.125 |
168.797 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
810.388 |
111.187 |
563.614 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2614.300 |
2685.600 |
2305.068 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
61.000 |
0.000 |
0.000 |
|
|
|
Proposed Dividend |
314.000 |
157.000 |
157.001 |
|
|
|
Dividend Distribution Tax |
50.900 |
25.500 |
26.076 |
|
|
BALANCE CARRIED
TO THE B/S |
2998.788 |
2614.287 |
2685.605 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw, Packing Materials and Finished Goods |
NA |
NA |
293.184 |
|
|
|
Components and Spare parts - Genera |
NA |
NA |
72.845 |
|
|
|
Components and Spare parts - Cold Repair |
NA |
NA |
532.491 |
|
|
TOTAL IMPORTS |
NA |
NA |
898.520 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.16 |
0.71 |
3.59 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
16.13
|
3.08 |
13.38
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
20.75
|
3.63 |
17.90
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.45
|
2.37 |
19.47
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.03 |
0.16
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00
|
0.00 |
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.37
|
5.40 |
4.68
|
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 |
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 |
No |
|
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
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Deferred sales tax loan |
4.121 |
8.242 |
|
|
|
|
|
Total |
4.121 |
8.242 |
PRODUCTION AND SALES
The year 2011-12
is the first full year of production after Cold Repair of the plant in FY
2010-11. The directors are pleased to inform that in its very first year, subsequent
to Cold Repair, the plant has achieved targeted levels of production and is
operating at high efficiency.
The company
achieved a turnover of Rs.5274.900 Millions during the year against Rs.3733.400
Millions in the previous year.
BUSINESS OVERVIEW AND FUTURE PLANS
The plant has been
performing satisfactorily and ongoing efforts are being made to improve
operational efficiencies and reduce costs. With its strong distribution
network, brand image for ‘MODIGUARD’ products and continued focus on customer
service, the company is well placed to meet present and future competition.
The demand for
float glass and value added products such as coated / reflective glass is
growing. Considering the growth opportunities in the industry, the company has
decided to set up a new float line as well as a coater facility to manufacture
coated glass products The coater facility is likely to be set up at existing
location in Gujarat whereas the new float line is proposed to be set up at
Gwalior (M.P), for which land allotment is in process.
FIXED ASSETS
·
·
· Buildings
· Temporary Structures
· Plant and Machinery
· Electrical Installation
· Furniture and Fittings
· Office Equipments
· Refrigerators
· Air Conditioners
· Computers
· 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 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] 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.54.39 |
|
|
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
62 |
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.