MIRA INFORM REPORT
|
Report Date : |
15.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
ALOM EXTRUSIONS LIMITED |
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|
|
|
Formerly Known
As : |
OM DEVELOPMENT LIMITED |
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Registered
Office : |
Alom House, 7B Pretoria Street, Kolkata – 700001, West Bengal |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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|
Date of
Incorporation : |
16.04.1980 |
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|
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Com. Reg. No.: |
21-032662 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.24.976 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L70200WB1980PLC032662 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO3518N |
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|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer of Aluminium Extrusions, Shapes and Sections. |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2400000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record.
There appears drastic fall in its profitability during 2012. However, general financial position seems to be good. Trade relations
are reported to be fair. Business is active. Payments are reported to be
usually correct. The company can be considered for normal 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Cash Credit :- BB+ |
|
Rating Explanation |
Having moderate risk of default regarding
timely servicing of financial obligation. |
|
Date |
October, 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 DENIED
Management Non-Cooperative (91-33-22822540)
LOCATIONS
|
Registered Office / Corporate Office : |
Alom House, 7B Pretoria Street, Kolkata – 700001, West Bengal, India |
|
Tel. No.: |
91-33-22822540/41/42/92 |
|
Fax No.: |
91-33-22827305 |
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E-Mail : |
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Website : |
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Delhi Office : |
2748/6, Chuna Mandi (1st Floor), Pahargunj, New Delhi –
110055, India |
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Tel. No.: |
91-11-23561741 |
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Fax No.: |
91-11-23585878 |
|
E-Mail : |
DIRECTORS
As on: 30.09.2012
|
Name : |
Mr. Ajay Prakash Jhunjhunwala |
|
Designation : |
Managing Director |
|
Address : |
7, |
|
Date of Birth/Age : |
11.05.1958 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
20.12.1994 |
|
Pan No.: |
ACUPJ4412B |
|
Voter ID No.: |
WB-23-46-084131 |
|
DIN No.: |
00046946 |
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|
|
|
Name : |
Mr. Shree Prakash Jhunjhunwala |
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Designation : |
Director |
|
Address : |
7, |
|
Date of Birth/Age : |
01.03.1961 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
17.05.1989 |
|
PAN No.: |
ACVPJ0487B |
|
Voter ID No.: |
WB-23-146-084130 |
|
DIN No.: |
00046987 |
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|
|
|
Name : |
Mr. Gaurav Bhuwalka |
|
Designation : |
Additional director |
|
Address : |
AL 215, Salt Lake City, Sectro II, Kolkata-700091, India |
|
Date of Birth/Age : |
03.06.1976 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
31.01.2012 |
|
DIN No.: |
00890369 |
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|
|
|
Name : |
Mr. Siddhartha Roy |
|
Designation : |
Director |
|
Address : |
AL 215, Salt Lake City, Sectro II, Kolkata-700091, India |
|
Date of Birth/Age : |
07.10.1945 |
|
Qualification : |
Tripple M.A., M.B.A. |
|
Date of Appointment : |
16.08.1995 |
|
Voter ID No.: |
WB-22-153-186720 |
|
DIN No.: |
00029195 |
KEY EXECUTIVES
|
Name : |
Mr. Shyam Sunder Agarwal |
|
Designation : |
Secretary |
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Date of Birth/Age : |
05.09.1958 |
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Date of Appointment : |
01.04.2008 |
|
PAN No.: |
AFKPA6307B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2012
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
28.00 |
|
Directors or relatives of directors |
|
45.00 |
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Other top fifty shareholders |
|
27.00 |
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|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Aluminium Extrusions, Shapes and Sections. |
PRODUCTION STATUS (As on: 31.03.2012)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Aluminium Extrusions |
Qty.(MT) |
NA |
20,800 |
*12,023 |
|
Other Products |
Qty.(MT) |
NA |
NA |
493 |
Notes: *Includes 1727.11 MT
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||
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Bankers : |
Punjab and Sind Bank, Kolkata Main Branch, 14/15, Old Court House
Street, Kolkata – 700001, West Bengal, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
K. Prasad and Company Chartered Accountants |
|
Address : |
2 4 , R.N.Mukherjee Road, Kolkata – 700001, West Bengal, India |
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PAN No.: |
AAFFK7239N |
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Associate Company : |
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Companies in which
Directors Relatives are interested Companies in which Directors are
interested : |
|
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3660000 |
Equity Shares |
Rs.10/- each |
Rs.36.600 Millions |
|
200000 |
Preference Shares |
Rs.10/- each |
Rs.2.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.38.600 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2297575 |
Equity Shares |
Rs.10/- each |
Rs.22.976 Millions |
|
200000 |
Preference Shares |
Rs.10/- each |
Rs.2.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.24.976 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 |
24.976 |
24.976 |
24.976 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
594.860 |
599.593 |
562.653 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
619.836 |
624.569 |
587.629 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
82.459 |
43.826 |
83.821 |
|
|
2] Unsecured Loans |
78.807 |
51.190 |
58.422 |
|
|
TOTAL BORROWING |
161.266 |
95.016 |
142.243 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
781.102 |
719.585 |
729.872 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
454.216 |
456.925 |
458.185 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
18.738 |
27.980 |
37.597 |
|
|
DEFERREX TAX ASSETS |
10.448 |
10.466 |
12.189 |
|
|
|
|
|
|
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|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
180.908
|
174.938 |
173.701 |
|
|
Sundry Debtors |
178.517
|
162.332 |
152.748 |
|
|
Cash & Bank Balances |
31.143
|
21.699 |
29.107 |
|
|
Other Current Assets |
105.178
|
84.530 |
0.000 |
|
|
Loans & Advances |
200.341
|
175.724 |
156.829 |
|
Total
Current Assets |
696.087
|
619.223 |
512.385 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
282.498
|
287.198 |
223.504 |
|
|
Other Current Liabilities |
73.053
|
67.216 |
44.840 |
|
|
Provisions |
42.836
|
40.595 |
22.140 |
|
Total
Current Liabilities |
398.387
|
395.009 |
290.484 |
|
|
Net Current Assets |
297.700
|
224.214 |
221.901 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
781.102 |
719.585 |
729.872 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1713.562 |
1622.143 |
1533.743 |
|
|
|
Other Income |
3.031 |
1.813 |
11.473 |
|
|
|
TOTAL (A) |
1716.593 |
1623.956 |
1545.216 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1332.895 |
1193.023 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(17.209) |
22.285 |
|
|
|
|
Employee benefit expense |
77.372 |
63.148 |
|
|
|
|
Depletion expenses |
0.258 |
0.164 |
|
|
|
|
Other expenses |
259.259 |
229.906 |
|
|
|
|
TOTAL (B) |
1652.575 |
1508.526 |
1364.414 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
64.018 |
115.430 |
180.802 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
39.203 |
32.318 |
28.526 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
24.815 |
83.112 |
152.276 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
14.537 |
14.213 |
13.243 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
10.278 |
68.899 |
139.033 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.004 |
18.956 |
21.188 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
8.274 |
49.943 |
117.845 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
216.547 |
173.421 |
67.399 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
1.000 |
5.000 |
10.000 |
|
|
|
Proposed Dividend on Preference Shares |
0.180 |
0.180 |
0.180 |
|
|
|
Proposed Dividend on Equity Shares |
1.378 |
1.378 |
1.378 |
|
|
|
Tax on Dividends |
0.253 |
0.259 |
0.265 |
|
|
BALANCE CARRIED
TO THE B/S |
222.010 |
216.547 |
173.421 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
60.741 |
73.101 |
79.131 |
|
|
TOTAL EARNINGS |
60.741 |
73.101 |
79.131 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Material |
0.000 |
0.000 |
13.575 |
|
|
|
Stores & Spares |
5.629 |
6.463 |
0.232 |
|
|
|
Capital Goods |
13.121 |
5.806 |
7.823 |
|
|
TOTAL IMPORTS |
18.750 |
12.269 |
21.630 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.52 |
21.66 |
51.21 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.48 |
3.08 |
7.63 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.60 |
4.25 |
9.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.89 |
6.40 |
14.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.11 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.26 |
0.15 |
0.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.75 |
1.57 |
1.76 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
Other loans and advances |
78.807 |
51.190 |
|
|
|
|
|
Total |
78.807 |
51.190 |
OPERATIONS
Operations of the Company have been badly affected by the frequent changes in the raw material prices and uncertain pricing policy of its principal raw material producers. Further there has been an abnormal increase in other operational expenses due to which the profits of the company have reduced substantially. Due to keen competition the market of aluminium-extruded products has not responded favorably to the increased cost. However, the volume was maintained to retain the major customers of the Company.
FUTURE PROSPECTS
Because of gradual decline of margin in the home market the Company is more and more exploring new avenues for export and hope to increase its exports next year. In the home market also new consumers like Solar panel and equipment manufacturers have been approached and supplies have been started to them. With the increased production and use of solar energy in due course the directors see a promising future for the company's products in this area. This will give company an improved margin on its supplies to these customers. As reported last year the Company has made good capital expenditure to cater demands of these customers and favorable results are expected this year.
CONTINGENT LIABILITY
NOT PROVIDED IN RESPECT OF: (As on: 31.03.2012)
a) Letter of Credit issued by Banks on behalf of the Company is Rs.260.912 Millions (Previous Year Rs.263.532 Lac) against which Rs.26.000 Millions (Previous Year Rs.14.286 Lac) have been deposited with bank as margin money in the form of Fixed Deposit.
b) The company has provided Bank Guarantee amounting to Rs.19.815 Millionsout of which Rs.4.083 Millions to CESC towards maintenance of Security Deposit, Rs.0.469 Millions to Commissioner of Customs, Rs.3.042 Millions to M.S.R.T. Corporation and Rs.12.221 Millions to Vedanta Aluminium Limited against which Rs.3.615 Millions have been deposited with bank as margin money in the form of Fixed Deposit.
c) Company has extended Corporate Guarantee in favour of EDC towards equipment loan given to Alom Poly Extrusions Limited (quantum EURO 18.16 lac).
Payments against supplies from small scale and ancillary undertaking are generally made in accordance with agreed terms and to the extent ascertained from available information, there was no material amount overdue in this regard. Amount outstanding more than 45 days after receipts of materials and exceeding of Rs. 0.100 Millions is Rs. NIL.
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration number of the company |
L70200WB1980PLC032662 |
|
Name of the
company |
ALOM EXTRUSIONS
LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Alom House, 7B
Pretoria Street, Kolkata – 700001, West Bengal, India |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
90251186 |
|
Type of charge |
|
|
Particular of
charge holder |
Punjab and Sind Bank, Kolkata Main Branch, 14/15, Old Court House
Street, Kolkata – 700001, West Bengal, India Email-id:- c0147@psb.org.in |
|
Nature of
instrument creating charge |
1. Hypothecation
of Goods to Secure a Demand Cash Credit dated 10.01.2013 2. Agreement for
Hypothecation of Debts and Assets dated 10.01.2013 3. Agreement for
Hypothecation Book debts dated 10.01.2013 4. Packing Credit
Agreement dated 10.01.2013 5. Letter of
Hypothecation for Inland / Foreign Bill
Purchased Advance against Bills, for Collection dated 10.01.2013 6. Demand
Promissory Note dated 10.01.2013 and Board Resolution dated 11.01.2013 |
|
Date of
instrument Creating the charge |
10.01.2013 |
|
Amount secured by
the charge |
Rs. 380.259
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest CC:BR+3% pa Monthly
rest, PC:BR+0.50% pa monthly rest, BP/BD:BR+3% pa monthly rest, LC
Com.:0.225% on ILC and 0.30% on FLC,BG Com:50% on normal
chg,TL-I-BR+3%p.a.+TP monthly rest, TL-II: L+ 6% monthly rest Terms of Repayment 1. CC: Repayable
on demand, PC: Repay on shipment of goods/ on demand, 2.
FOBP/FOUBP,FOBLC,BP/BD(DA-45 days)-on realisation on due date 3. LC: On due
date of Bills drawn under LC. 4. TL-I: quartly inst. of Rs.3.948 millions. Int. to
be recovered as and when due. FCDL-I (out of TL-I): on due date. 5. TL-II:
Repayment in 20 quartly inst. of Rs.0.960 million, w.e.f. quart ending
December, 2011. Interest to be charged with monthly rests and to be recovered
as and when due. FCDL-II:- On due date / On Demand. Margin CC (H) : 25% on Stock and 50% on
book debts. PC : 25% FOBP and
FOUBP : Nil BP/BD : Nil LC : 10% BG : 10% TL-I : 25% TL-II : 25% FCDL : 25% Extent and Operation of the charge The charge shall
operate as first charge on the current assets and fixed assets (Details
mention in column No.15) of the Company. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
(i) CC (H):-
Hypothecation by way of first charge on the entire current assets i.e. stock
of raw materials, WIP, semi finished and finished goods, stores and spares
etc. and the entire receivables (ii) Of the
Company, both present and future. PC: -
Hypothecation of stock meant for export. FOBP/FOUBP/FOBLC:-
Export documents. (iii) BP/BD
(DA-45 Days):- Bills Negotiated/Purchased/Discounted under LC/Order accompanied
by RR/LR. LC (DP/DA):-
Documents/goods under LC. BG: - Counter
Guarantee of the Company / charge on current assets. (iv) TL-I and
II:- Exclusive Hypothecation charge on plant and machinery of the Company,
both present and future, located at Ganeswarpur Industrial Estate, Balasore,
Orissa. (v) EM of
Company’s leased hold factory land and Building at Ganeshwarpur Industrial
Estate Balasore Orissa, EM of Company’s factory land and Building at 184JN
Mukherji Road. Howrah, (vi) EM of the
property of SRJ Trust at 220A Naskar Para Road Ghusuri Howrah, Charge on
other fixed assets net block of P and M Rs. 27100.000 Millions. (vii) Personal
Guarantee of Mr. A P Jhunjhunwala and
Mr. S P Jhunjhunwala, Legal heirs of deceased guarantor late sawal ram
jhunjhunwala to be taken as guarantor |
|
Date of
instrument modifying the charge |
27.10.2011 |
|
Particulars of
the present modification |
By this
modification, the overall limit has been enhanced from Rs.369.538 millions to
Rs.380.259 millions (i) CC(H):Rs0.080
million (ii) PC(against
LC Confirmed order):Rs.0.030 million (iii)FOBP/FOUBP:Rs.0.020million
BP/BD:(Rs.0.020 million) (iv)LC(DP/DA)ILC90days/FLC180days:Rs.0.021
million (v) BG(Financial/Performance):Rs.0.025 million
(vi)
TL-I:Rs.3.759 million (vii) TL-II:Rs.0.011
million |
FIXED ASSETS
Tangible Assets
- Land
- Buildings
- Plant and Equipment
- Factory Equipments
- Furniture and Fixtures
- Vehicles
- Office Equipment
Intangible Assets
- Computer Software
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. 54.63 |
|
|
1 |
Rs. 83.67 |
|
Euro |
1 |
Rs. 71.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
VRN/DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
44 |
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.