MIRA
INFORM REPORT
|
Report Date : |
07.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
RISHABH INSTRUMENTS PRIVATE LIMIITED |
|
|
|
|
Registered
Office : |
A-54, Marol Industrial Area, Andheri
(East), Mumbai – 400 093, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
06.10.1982 |
|
|
|
|
Com. Reg. No.: |
11-028406 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.146.250 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31100MH1982PTC028406 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKR00055G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR2228Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is primarily engaged in the manufacturing, designing and development
of Test and Measuring Instruments and Industrial Control Products. |
|
|
|
|
No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1965000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The ratings reflect RIPL’s established market position in the
industrial control products (ICPs) and TMI industry, above-average financial risk
profile marked by a moderate net worth and comfortable debt protection
metrics, and its improving operating efficiencies. Trade relations are fair. Business is active. Payment terms are
usually correct. The company can be considered for business dealings at usual trade
terms and conditions. Note: Financials of 2012 and 2011 (Sales and Profit) are taken from Indirect
Source (CRISIL). |
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) |
|
|
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
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been
named the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top spot
for the world’s most honest city while Lisbon, the capital of Portugal, proved
to be the least honest. The survey put hundreds of people to test in four
continents to find out just how honest they were by dropping wallets and seeing
how many would be returned.
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
December 17, 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating A3+ |
|
Rating Explanation |
Moderate degree at safety and higher credit
risk. |
|
Date |
December 17, 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 : |
A-54, Marol Industrial Area, Andheri
(East), Mumbai – 400 093, Maharashtra, India |
|
Tel. No.: |
91-22-66420680/ 66420642 |
|
Fax No.: |
91-22-66420657 |
|
E-Mail : |
|
|
Website : |
|
|
Area: |
1000 sq. ft. |
|
Location: |
Owned |
|
|
|
|
Head Office/ Factory 1 : |
F-31, MIDC, Satpur, Nashik – 422 007, |
|
Tel. No.: |
91-253-2202202/ 203/ 160 |
|
Fax No.: |
91-253-2351064 |
|
E-Mail : |
|
|
Website : |
|
|
Area: |
10000 sq. ft. |
|
Location: |
Owned |
|
|
|
|
Factory 2/ |
Trishala, Plot No. C-6, N.I.C.E., Satpur, Nashik – 422 005, |
|
Tel. No.: |
91-253-2202312/ 2202202/ 203 |
|
Fax No.: |
91-253-2202314/ 2351064 |
|
E-Mail : |
|
|
|
|
|
Regional Office : |
Located at: ·
Mumbai ·
·
·
Chennai ·
Kolkata |
|
|
|
|
Area Office : |
Located at: ·
·
Ahemdabad ·
Pune · Secunderabad |
|
|
|
|
Resident Engineer Office : |
Located at: ·
Jaipur ·
·
·
Bhilai ·
Vadodara
·
·
·
|
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Narendra Johrimal Goliya |
|
Designation : |
Managing Director |
|
Address : |
Plot No. F-31, MIDC, Satpur, Nashik – 422 007, |
|
Date of Birth/Age : |
20.09.1951 |
|
Qualification : |
B. Tech (IIT-Mumbai), M.S. (Stanford |
|
Date of Appointment : |
06.10.1982 |
|
00315870 |
|
|
|
|
|
Name : |
Dr. Maheshkumar Govinddas Nathani |
|
Designation : |
Director |
|
Address :` |
Megha Manas, 30, Usha Kiran Co-operative Housing Society, Opposite
Milk Scheme, |
|
Date of Birth/Age : |
11.10.1946 |
|
Qualification : |
MSc, PHd in Chemistry |
|
Date of Appointment : |
20.11.1992 |
|
DIN No.: |
00127029 |
|
|
|
|
Name : |
Mr. Devendra Dattatray Bapat |
|
Designation : |
Director |
|
Address : |
Mans Chintamany Colony, Savarkar Nagar, Gangapur Road, Nashik – 422
005, Maharashtra, India |
|
Date of Birth/Age : |
22.08.1959 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
17.04.2009 |
|
DIN No.: |
00129623 |
|
|
|
|
Name : |
Mr. Ramakrishnan Kottekode Parappath |
|
Designation : |
Director |
|
Address : |
H No.11, Walnut Creek Society, Savarkar Nagar, Nashik – 422 013,
Maharashtra, India |
|
Date of Birth/Age : |
29.09.1949 |
|
Qualification : |
B.E. - Mechanical |
|
Date of Appointment : |
17.04.2009 |
|
DIN No.: |
00304272 |
|
|
|
|
Name : |
Mr. Shyam Narayan Karmarkar |
|
Designation : |
Director |
|
Address : |
E-66, Lokmanya Nagar, T.H. Katariya Road, Mahim, Mumbai – 400 016,
Maharashtra, India |
|
Date of Birth/Age : |
13.11.1949 |
|
Qualification : |
B.E. – Electrical |
|
Date of Appointment : |
15.07.2010 |
|
DIN No.: |
02856240 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names
of Shareholders |
No. of Shares |
|
Narendra J. Goliya jointly with Asha N. Goliya |
11741249 |
|
Asha N. Goliya jointly with Narendra Goliya |
2250000 |
|
Rishabh Narendra Goliya jointly with Narendra Johrimal Goliya |
375000 |
|
Narendra Rishabh Goliya HUF through its karta Narendra Goliya |
258750 |
|
Narendra J. Goliya jointly with Anushree N. Goliya |
1 |
|
Total |
14625000 |
As on: 17.09.2013
|
Names
of Allottee |
No. of Shares |
|
SACEF Holding II, Mauritius |
4307669 |
|
SACEF Holding II, Mauritius |
100 |
|
|
|
As on: 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily engaged in the manufacturing, designing and
development of Test and Measuring Instruments and Industrial Control
Products. |
||||||||||||||||||
|
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|
||||||||||||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Panel Meters |
Nos. |
1080000 |
744387 |
|
Multimeters |
Nos. |
50000 |
18282 |
|
Transducers |
Nos. |
40000 |
36887 |
|
Integra |
Nos. |
70000 |
42851 |
|
Current Transformers |
Nos. |
300000 |
144180 |
NOTES:
1.
In terms of Notification No. 477(E) dated July 25,
1991, issued by the Ministry of Industry, Department of Industrial Development,
the Company’s products have been exempted from industrial licensing.
Accordingly, disclosure requirements concerning licensed capacity are not
applicable.
2.
The installed capacity is as certified by the
management and relied on by the auditors, without verification, this being a
technical matter.
3.
Difference in quantitative tally represents captive
consumption.
4.
Since trading items do not individually account for
10% or more of the total purchases, separate quantitative details are not
given.
GENERAL INFORMATION
|
No. of Employees : |
600 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
·
State Bank of India, Satpur Industrial Area
Branch, Nashik – 422 007, Maharashtra, India ·
Citi Bank |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.V. Ghatalia
and Associates Chartered Accountants |
|
Address : |
C-401, 4th
Floor, Panchshil Tech Park. Yerwada (Near Don Bosco School). Pune – 411 006, Maharashtra,
India |
|
PAN No. : |
AACFS6921Q |
|
|
|
|
Subsidiary Company : |
Rishabh
Applied Meters Private Limited CIN No.:
U31909MH2004PTC149485 Address: A-54, Marol
Industrial Area, Andheri (East), Mumbai – 400 093, Maharashtra, India Line of Business: Manufacturer
and Exporter of Electronic Goods. |
|
|
|
|
Holding Company : |
SACEF Holding II, Mauritius |
|
|
|
|
Enterprises owned
or significantly influenced by key management personnel or their relatives: |
|
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14625000 |
Equity Shares |
Rs.10/- each |
Rs.146.250 Millions |
|
|
|
|
|
After 29.09.2012
Authorised Capital: Rs.300.000 millions
Issued, Subscribed & Paid-up Capital: Rs.275.482
millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
146.250 |
146.250 |
|
(b) Reserves & Surplus |
|
345.109 |
285.500 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
491.359 |
431.750 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
21.254 |
23.748 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.380 |
0.520 |
|
(d) long-term provisions |
|
34.571 |
7.514 |
|
Total Non-current Liabilities (3) |
|
56.205 |
31.782 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
119.310 |
45.626 |
|
(b) Trade payables |
|
117.817 |
84.009 |
|
(c) Other current
liabilities |
|
33.565 |
31.586 |
|
(d) Short-term provisions |
|
24.530 |
21.708 |
|
Total Current Liabilities (4) |
|
295.222 |
182.929 |
|
|
|
|
|
|
TOTAL |
|
842.786 |
646.461 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
189.057 |
196.390 |
|
(ii) Intangible Assets |
|
2.507 |
2.848 |
|
(iii) Capital
work-in-progress |
|
19.917 |
4.256 |
|
(iv)
Intangible assets under development |
|
8.113 |
1.213 |
|
(b) Non-current Investments |
|
106.958 |
2.347 |
|
(c) Deferred tax assets (net) |
|
2.521 |
5.202 |
|
(d) Long-term Loan and Advances |
|
28.104 |
12.170 |
|
(e) Other Non-current assets |
|
2.352 |
1.812 |
|
Total Non-Current Assets |
|
359.529 |
226.238 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
15.000 |
|
(b) Inventories |
|
217.947 |
211.809 |
|
(c) Trade receivables |
|
196.737 |
146.749 |
|
(d) Cash and cash
equivalents |
|
3.932 |
3.718 |
|
(e) Short-term loans and
advances |
|
56.020 |
31.556 |
|
(f) Other current assets |
|
8.621 |
11.391 |
|
Total Current Assets |
|
483.257 |
420.223 |
|
|
|
|
|
|
TOTAL |
|
842.786 |
646.461 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
146.250 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
211.881 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
358.131 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
43.272 |
|
|
2] Unsecured Loans |
|
|
49.720 |
|
|
TOTAL BORROWING |
|
|
92.992 |
|
|
DEFERRED TAX LIABILITIES |
|
|
7.944 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
459.067 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
183.256 |
|
|
Capital work-in-progress |
|
|
7.431 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
41.018 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
132.829
|
|
|
Sundry Debtors |
|
|
134.648
|
|
|
Cash & Bank Balances |
|
|
40.666
|
|
|
Other Current Assets |
|
|
0.329
|
|
|
Loans & Advances |
|
|
23.074
|
|
Total
Current Assets |
|
|
331.546
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
70.942
|
|
|
Other Current Liabilities |
|
|
7.475
|
|
|
Provisions |
|
|
25.767
|
|
Total
Current Liabilities |
|
|
104.184
|
|
|
Net Current Assets |
|
|
227.362
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
459.067 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
NA |
635.501 |
|
|
|
Other Income |
NA |
NA |
22.540 |
|
|
|
TOTAL |
NA |
NA |
658.041 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
547.833 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
547.833 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
NA |
110.208 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
28.938 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
NA |
90.617 |
81.270 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
440.400 |
298.400 |
251.402 |
|
|
TOTAL EARNINGS |
440.400 |
298.400 |
251.402 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Consumables |
NA |
221.171 |
166.614 |
|
|
|
Capital Goods |
NA |
3.746 |
10.250 |
|
|
TOTAL IMPORTS |
NA |
224.917 |
176.864 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
6.20 |
5.56 |
|
|
Particulars |
|
31.03.2012 |
31.03.2011 |
|
Operating Income |
|
887.000 |
704.000 |
|
|
|
|
|
|
Profit After Tax |
|
76.600 |
90.600 |
NOTE:
Financials of 2012 and 2011
(Sales and Profit) are taken from Indirect Source (CRISIL).
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA |
12.35
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
17.34
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA |
21.41
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA |
0.31
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.29
|
0.16 |
0.26
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.64
|
2.30 |
3.18
|
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 |
Yes |
|
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 |
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 |
NOTE:
The Registered Office of the company has been shifted from F-31, MIDC,
Satpur, Nashik – 422 007, Maharashtra, India to the present address w.e.f.
01.06.2009.
UNSECURED LOAN:
|
Particulars |
31.03.2012 [Rs.
in Millions] |
31.03.2011 [Rs.
in Millions] |
|
Long Term
Borrowing |
|
|
|
Rupee term loans from banks |
2.000 |
3.000 |
|
Deferred sales tax loan |
19.254 |
20.748 |
|
|
|
|
|
Total |
21.254 |
23.748 |
INDEX CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
80050741 |
22/06/2011 * |
534,800,000.00 |
STATE BANK OF INDIA |
SATPUR INDUSTRIAL AREA BRANCH, NASHIK,
Maharashtra - 422007, INDIA |
B16444341 |
* Date of charge modification
CONTINGENT
LIABILITIES NOT PROVIDED FOR:
|
Particulars * |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Demand raised by
income tax authorities for the AY 2001- 02. The company believes that demand
is on account of errors and filed application for rectification of mistake
with ITAT. |
0.019 |
0.019 |
|
Demand notice raised
on various disallowances/ levy of taxes by excise authorities regarding
excise duty and service tax for the period 2006 to 2011** |
11.305 |
8.348 |
|
Demand notice
raised by sales tax authorities on account of by reduction of set off by the
authorities for the year 2000- 01 |
0.150 |
0.150 |
|
Demand notice
raised by custom authorities for the period 2006- 08 |
0.732 |
-- |
|
Demand notice
raised by provident fund authorities for the period 2006- 09 for provident
fund payable on trainees stipend |
6.077 |
6.077 |
|
Financial bank
guarantees |
0.231 |
0.000 |
NOTE:
* The liability has been computed as per the demand with no further
adjustments of interest and penalty.
** The Company has filed appeals against these demand orders which are pending
at various forums.
# Maharashtra Sales Tax Tribunal has remanded back the case to the A.O.
to rework the correct liability.
FIXED ASSETS:
Tangible Assets
·
Factory Building
·
Other Building
·
Plant and Machinery
·
Moulds
·
Computer Hardware
·
Furniture and Fixtures
·
Vehicles
Intangible Assets
·
Software
Licenses
·
Technical
Know-how
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 pyments 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. 61.25 |
|
|
1 |
Rs.99.60 |
|
Euro |
1 |
Rs.83.64 |
INFORMATION DETAILS
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.