|
Report Date : |
02.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
MENON PISTON RINGS PRIVATE LIMITED |
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|
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Registered
Office : |
197-A, Sambhapur Kasarwadi Road, Toap, Kolhapur – 416 122, Maharashtra |
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Country : |
India |
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|
Financials (as
on) : |
31.03.2012 |
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|
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|
Date of
Incorporation : |
25.10.1985 |
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|
Com. Reg. No.: |
11-037862 |
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|
|
Capital Investment
/ Paid-up Capital : |
Rs.108.720
Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U29113MH1985PTC037862 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
KLPM01643F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCM2375A |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Manufacturer of Auto Components. |
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|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 725000 |
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|
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a satisfactory track record.
There appears slight dip in the profits during 2012. However, trade relations
are reported to be fair. Business is
active. Payments are reported to be slow but correct. The company can be considered normal for business dealings at usual
trade terms and condition. |
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 |
Long Term Rating: BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
April 23, 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating: A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
April 23, 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 PARTED BY
|
Name : |
Mr. R.V. Shinde |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-230-2465052 |
|
Date : |
29.04.2013 |
LOCATIONS
|
Registered Office/ Corporate Office/ Factory 1 (Ring Plant): |
197-A, Sambhapur Kasarwadi Road, Toap, Kolhapur – 416 122,
Maharashtra, India |
|
Tel. No.: |
91-230-2465052/ 2465020 |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
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|
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|
|
Head Office/ Factory 2 : |
Shiroli, Kolhapur – 416 122, Maharashtra, India |
|
Tel. No.: |
91-230-2468041/ 2468042 |
|
|
|
|
Factory 3 : |
H-1, MIDC, Kupwad Block, Sangli – 416 436, Maharashtra, India |
|
Tel. No.: |
91-233-2345179/ 89 |
|
|
|
|
Factory 4 : |
B-58/59, MIDC, Shiroli, Kolhapur – 416 122, Maharashtra, India |
|
Tel. No.: |
91-230-2468103 |
DIRECTORS
As on 25.08.2011
|
Name : |
Mr. Sachin Ram Menon |
|
Designation : |
Managing Director |
|
Address : |
Menon Enclave II, E Ward, Laxdminarayan Nagar, Kasaba Karveer,
Kolhapur – 416 005, Maharashtra, India |
|
Date of Birth/Age : |
27.06.1963 |
|
Date of Appointment : |
22.03.1994 |
|
DIN No.: |
00134488 |
|
|
|
|
Name : |
Mr. Ram Krishna Menon |
|
Designation : |
Director |
|
Address : |
Menon Enclave I, E Ward, Laxdminarayan Nagar, Kasaba Karveer, Kolhapur
– 416 005, Maharashtra, India |
|
Date of Birth/Age : |
25.02.1930 |
|
Date of Appointment : |
25.10.1985 |
|
DIN No.: |
00111469 |
|
|
|
|
Name : |
Mr. Nitin Ram Menon |
|
Designation : |
Director |
|
Address : |
Menon Enclave III, E Ward, Laxdminarayan Nagar, Kasaba Karveer,
Kolhapur – 416 005, Maharashtra, India |
|
Date of Birth/Age : |
26.11.1967 |
|
Date of Appointment : |
23.12.1994 |
|
DIN No.: |
00692754 |
|
|
|
|
Name : |
Mr. Ramesh Dattatraya Dixit |
|
Designation : |
Director |
|
Address : |
Plot No.26, Sanyukta Maharashtra Co-Operative Housing Society, Rajarampuri, 13th Lane, Kolhapur
– 416 008, Maharashtra, India |
|
Date of Birth/Age : |
25.12.1943 |
|
Date of Appointment : |
23.12.1994 |
|
DIN No.: |
00626827 |
KEY EXECUTIVES
|
Name : |
Mr. R.V. Shinde |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.08.2011
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Ram Krishna Menon |
|
12500 |
|
Sachin Ram Menon |
|
2764000 |
|
Nitin Ram Menon |
|
25000 |
|
Radhamani Ram Menon |
|
12500 |
|
Savita Satish Gopi |
|
25000 |
|
Sachin Menon Family Trust, India |
|
1713666 |
|
Gayathry Sachin Menon |
|
578000 |
|
Menon Metals and Alloys Private Limited, India |
|
1750000 |
|
Nivedita Benefit Trust, India |
|
641334 |
|
Total
|
|
7522000 |
`
As on 25.08.2011
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Sachin Ram Menon |
|
60000 |
|
Total
|
|
60000 |
As on 25.08.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
23.00 |
|
Directors
or relatives of directors |
|
46.00 |
|
Other
top fifty shareholders |
|
31.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Auto Components. |
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Products : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2012)
|
Particulars |
Unit |
Piston Rings |
General Casting |
|
Registered Capacity |
Nos. |
9000000 |
5000000 |
|
Installed Capacity |
Nos. |
6000000 |
5000000 |
|
Actual Production |
Nos. |
5722377 |
154422 |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
Information declined by the Management. |
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Bankers : |
The Saraswat Co-operative Bank Limited, C.T.S. 1716, E Ward, 7th
Lane, Rajarampuri, Kolhapur – 416 008, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
P.M. Vardhe and Company Chartered Accountants |
|
Address : |
630/E, Shahupuri, 1st Lane, Kolhapur – 416 001, Maharashtra, India |
|
PAN No.: |
AANPV5690A |
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|
|
|
Associate : |
Menon Pistons
Limited, India |
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|
|
|
Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their
relatives : |
Menon Engineering Services, India Menon Exports Address: 197-A, Sambhapur Kasarwadi Road, Toap, Kolhapur – 416 122,
Maharashtra, India |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8960000 |
Equity Shares |
Rs.10/- each |
Rs.89.600 Millions |
|
229000 |
Preference Shares |
Rs.100/- each |
Rs.22.900 Millions |
|
|
Total |
|
Rs.112.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
8582000 |
Equity Shares |
Rs.10/- each |
Rs.85.820
Millions |
|
229000 |
Preference Shares |
Rs.100/- each |
Rs.22.900
Millions |
|
|
Total |
|
Rs.108.720 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 |
108.720 |
81.220 |
61.220 |
|
|
2] Share Application Money Pending Allotment |
0.000 |
0.000 |
0.382 |
|
|
3] Reserves & Surplus |
72.598 |
62.567 |
40.969 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
181.318 |
143.787 |
102.571 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
217.765 |
139.262 |
99.513 |
|
|
2] Unsecured Loans |
42.837 |
49.350 |
83.869 |
|
|
TOTAL BORROWING |
260.602 |
188.612 |
183.382 |
|
|
DEFERRED TAX LIABILITIES |
21.598 |
21.728 |
18.612 |
|
|
|
|
|
|
|
|
TOTAL |
463.518 |
354.127 |
304.565 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
231.475 |
212.881 |
175.126 |
|
|
Capital work-in-progress |
109.595 |
10.219 |
3.768 |
|
|
|
|
|
|
|
|
INVESTMENT |
27.028 |
27.029 |
27.029 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
145.954
|
90.414
|
64.614 |
|
|
Sundry Debtors |
62.745
|
74.801
|
56.240 |
|
|
Cash & Bank Balances |
3.204
|
5.989
|
7.905 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
54.065
|
39.396
|
33.591 |
|
Total
Current Assets |
265.968
|
210.600
|
162.350 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
80.746
|
46.869
|
40.415 |
|
|
Other Current Liabilities |
70.448
|
45.040
|
0.000 |
|
|
Provisions |
19.354
|
14.693
|
23.293 |
|
Total
Current Liabilities |
170.548
|
106.602
|
63.708 |
|
|
Net Current Assets |
95.420
|
103.998
|
98.642 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
463.518 |
354.127 |
304.565 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
505.600 |
502.400 |
393.800 |
|
|
|
Other Income |
4.222 |
2.944 |
1.676 |
|
|
|
TOTAL |
509.822 |
505.344 |
395.476 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Usual Working Expenses |
456.934 |
439.749 |
352.027 |
|
|
|
TOTAL |
456.934 |
439.749 |
352.027 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
52.888 |
65.595 |
43.449 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
25.301 |
20.468 |
13.069 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
27.587 |
45.127 |
30.380 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
6.470 |
14.616 |
9.131 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
21.117 |
30.511 |
21.249 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
46.266 |
27.819 |
16.959 |
|
|
|
|
|
|
|
|
|
|
(SHORT) / EXCESS
PROVISION |
(0.075) |
0.062 |
0.355 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2.150 |
3.150 |
2.150 |
|
|
|
Proposed Dividend |
9.474 |
7.723 |
7.346 |
|
|
|
Tax on Dividend |
1.537 |
1.253 |
1.249 |
|
|
BALANCE CARRIED
TO THE B/S |
54.148 |
46.266 |
27.819 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports |
0.351 |
-- |
-- |
|
|
|
Deemed Exports |
47.176 |
46.044 |
38.649 |
|
|
TOTAL EARNINGS |
47.527 |
46.044 |
38.649 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
21.650 |
10.333 |
|
|
|
Plant and Machinery |
NA |
7.436 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
29.086 |
10.333 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.40 |
4.02 |
3.47 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.14 |
6.04
|
5.37 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.46 |
8.98
|
7.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.55 |
10.66
|
9.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.31
|
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.44 |
1.31
|
1.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.56 |
1.98
|
2.55 |
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 |
80.746
|
46.869
|
40.415 |
|
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 |
Yes |
|
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 |
|
Unsecured Loans |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Rupee term loans from others (Sales tax
interest free loan) |
42.837 |
49.350 |
|
Total
|
42.837 |
49.350 |
GENERAL REVIEW
After having recorded
a strong-digit volume growth over the last two year, the auto and auto
components industry may face strong headwinds in 2012-13 leading to moderation
in growth contributed by firming up to commodity prices, rising fuel costs and
interest rates, while the industry has made big strides over the last decade
towards improving internal efficiency and thereby partially offsetting input
cost pressures, efficiency gains alone may be insufficient going forward for
players to use as a lever to combat cost headwinds. Industry players will
therefore need to intensify their focus on deploying more cost effective
measures.
The Indian auto
components industry is gaining significance on the global front for the foreign
Original Equipment Manufacturers (OEMs) that source parts from India. Adoption
of global best practices is shaping the industry towards having an efficient
supply chain system to fully exploit the rise in local demand. However, the
industry is structured in three tiers with the lowest tier being highly
fragmented. Information Technology (IT) solutions are thus necessary to
increase the visibility across the supply chain to provide accurate demand
forecasts, prevent counterfeiting of products and provide quality products and
services.
During the year 2011-12
the company has achieved the turnover of Rs.505.600 millions as compared to
Rs.502.400 millions during the previous financial year whereas profit after tax
for the year is Rs.21.100 millions as against Rs.30.500 millions in the
previous financial year.
Bankers Charges
Report as per Registry
|
Corporate identity number of the company |
U29113MH1985PTC037862 |
|
Name of the company |
MENON PISTON RINGS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
197-A, Sambhapur Kasarwadi Road, Toap, Kolhapur – 416 122,
Maharashtra, India E-Mail: info@menonrings.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable Property Movable Property (not being pledge) |
|
Particular of charge holder |
The Saraswat Co-operative Bank Limited, C.T.S. 1716, E Ward, 7th
Lane, Rajarampuri, Kolhapur – 416 008, Maharashtra, India E-Mail: na_walwalkar@saraswatbank.com |
|
Nature of description of the instrument
creating or modifying the charge |
Supplementary recording letter evidencing
deposit of title deeds |
|
Date of instrument Creating the charge |
06.02.2013 |
|
Amount secured by the charge |
Rs.25.000 millions |
|
Brief particulars of the principal terms
an conditions and extent and operation of the charge |
Rate of Interest: At PLR 2.75% i.e. 11.75% with monthly
rests or at such rates as may be prescribed. Terms of Repayment: 60 months (including moratorium period of
12 months) 47 monthly Principal
installments of Rs.0.521 million each, Last Principal installment of Rs.0.513
million each. Margin: 40% Extent and Operation of the charge: Till the full and final settlement of the
loan. |
|
Short particulars of the property charged |
All that Premises lying and situated at
197/A, Plot No.6, admeasuring about 64.12 sq. meter in the buildings known as
at Sambhapur, Kasarwadi, Toap Kolhapur bounded as under. On or Towards East: Plot of land Gat
No.197/B. On or Towards West: Plot No. land Gat
No.198. On or Towards North: Plot No. land Gat
No.197/A. On or Towards South: Plot No. land Gate No.197/A. Title deeds in respect of original
agreement made at kolhapur dated 28.02.1995 between Menon Analiazies (Auto)
Private Limited and Mr. Parshuram Dhardi Bhosale Collateral Security - 1. Additional
Equitable Mortgage of Factory Land and Building situated at Gat No.197/A,
NH4, Sambhapur - Kasarwadi Road, Toap, Kolhapur. (Area Plot - 25743 sq. mtrs,
BUA- lO400 sq. mtrs) (excluding new foundry building) 2. Hypothecation of existing plant and
machinery to be continued. |
FIXED ASSETS:
·
Land and Building
·
Machinery
·
Electrical Installation
·
Office Equipments
·
Tools and Equipments
·
Patterns
·
Furniture and Fixtures
·
Vehicles
·
Computer
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.54.22 |
|
|
1 |
Rs.84.00 |
|
Euro |
1 |
Rs.70.97 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
42 |
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.