MIRA INFORM REPORT
|
Report Date : |
15.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
CARE OFFICE EQUIPMENT LIMITED (w.e.f. 14.09.2010) |
|
|
|
|
Formerly Known
As : |
CARE OFFICE EQUIPMENT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
GF - 8, Zodiac Square, Besides Vishal Mega Mart, Opposite Gurudwara, S G Highway, Ahmedabad – 380054, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
31.08.1998 |
|
|
|
|
Com. Reg. No.: |
04-034605 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 23.629 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110GJ1998PLC034605 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of IT Products and Consumer Electronics Goods. |
|
|
|
|
No. of Employees
: |
270 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 774000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but corrct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record. The external borrowing of the company appears to be increasing over
years which can be a threat to the company’s liquidity. However, the ratings reflect its established position in the
distribution of information technology (IT)-related hardware and office
products in Gujarat, indicated by consistent growth in top line, and strong
association with its principal suppliers. General financial position of the compny appears to be sound nd
healthy. Trade relations are reported to be fair. Business is active. Payment
terms are slow but correct. The company can be considered for 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.
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock Exchange.
The exchange plans to launch the currency futures platform with advanced
trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB- (Long Term Rating) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
September 30, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A3 (Short Term Rating) |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
September 30, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Dharani Patel |
|
Designation : |
C A |
|
Contact No.: |
91-9898240199 |
|
Date : |
13.11.2013 |
LOCATIONS
|
Registered Office
: |
GF - 8, Zodiac Square, Besides Vishal Mega Mart, Opposite
Gurudwara, S G Highway, Ahmedabad – 380054, Gujarat, India |
|
Tel. No.: |
Not Available |
|
Mobile No. : |
91-9898240199 (Mr. Dharani Patel) |
|
Fax No.: |
Not Available |
|
E-Mail : |
reshma@careoffice.in
sales@careoffice.in
|
|
Websites: |
http://www.careoffice.in
|
|
Location : |
Owned |
|
|
|
|
Branch Office
: |
Celller Vraj
Vihar Tower Opposite Aryavrata Bungalows, Behind Prerna-Tirth Bungalows,
Jodhpur Gam Road, Satellite Ahmedabad - 380015, Gujarat, India |
|
Tel. No.: |
91-79-26924821-25
/ 40013000 |
|
Fax No.: |
91-79-26924825 /26421253
/26923019 /40013096 |
|
Area : |
20000 sq.fts |
|
Location : |
Rented |
|
|
|
|
Showroom 1: |
4 and 5 Ground
Floor, Fairdeal House, Near Swastik Cross Roads, C. G. Road, Ahmadabad - 380
009, Gujarat, India |
|
Tel. No.: |
91-79-26421251/2/26527176/26560204/40013900/40013952/26421253/40013050/400130000 |
|
Fax No.: |
91-79-26560204/40013910/26421252 |
|
Area : |
2000 Sq. fts |
|
Location : |
Rented |
|
|
|
|
Showroom 2: |
8 GF, Ground
Floor and Basement, Opposite Gurudwara, |
|
Area : |
5000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Showroom 3: |
GF, 19, Windsor Plaza, R. C. Dutt Road,
Alkapuri, Vadodara - 390007, Gujarat, India |
|
|
|
|
Showroom 4 : |
39/1, Mahagujarat Industrial Estate, Moje -
Changodar, Village : Moraiya Tal : Sanand, Dist. : Ahmadabad, Gujarat, India |
|
|
|
|
Exclusive Dell
Showrooms 1 : |
6 and 7, GF and Basement, Fairdeal House, Near
Swastik Cross Road, C. G. Road, Ahmedabad 380 009 Gujarat, India |
|
|
|
|
Exclusive Dell
Showrooms 2 : |
5 and 6, Gokulesh Complex, Sampat Rao
Colony, R. C. Dutt Road, Alkapuri, Baroda - 390 007, Gujarat, India |
|
|
|
|
Exclusive Dell
Showrooms 3 : |
No. 1, Upper Ground Floor, Jivan Deep
Building, Near Nirmal Hospital, Opp. Sub Jail, Ring Road, Surat - 395 002,
Gujarat, India |
|
|
|
|
Other Godowns
: |
·
4,5, Landmark, Mithakhali Six Road, Navrangpura,
Ahmadabad, Gujarat, India ·
5, N. K. Patel Estate No. 2, Sarkhej Bavla Road, Moje
Fatehwadi, Taluka Daskoi, Dist. Ahmadabad, Gujarat, India ·
GF 2, 3, 4 and Celler Vraj Vihar Tower, Jodhpur Gam
Road, Ahmadabad, Gujarat, India ·
Basement Zodiac Square, Opp : Gurudwara, S. G. Road,
Ahmadabad, Gujarat, India |
|
|
|
|
Authorized
Service Center : |
Care
Info Solutions Private Limited GF and Basement, Shubh Complex, Behind
Sheth Opticals, Near. Swastik Cross Road, Ahmadabad 380 009, Gujarat, India |
DIRECTORS
As on 30.09.2012
|
Name : |
Mr. Hemant Shantilal Shah |
|
Designation : |
Managing Director |
|
Address : |
302, Shyamal Apartment, Suvidha Shopping Centre, Paldi, Ahmedabad
380007, |
|
Date of Birth/Age : |
12.02.1968 |
|
Date of Appointment : |
31.08.1998 |
|
DIN No.: |
00458049 |
|
PAN No.: |
ACZPS4370F |
|
|
|
|
Name : |
Mr. Kamlesh Dhirajlal Shah |
|
Designation : |
Director |
|
Address : |
502, Kailashiddhi Apartment, |
|
Date of Birth/Age : |
08.03.1960 |
|
Date of Appointment : |
31.08.1998 |
|
DIN No.: |
00458265 |
|
PAN No. : |
AAKPS78870D |
|
|
|
|
Name : |
Mr. Firozbhai Pirbhai Sama |
|
Designation : |
Director |
|
Address : |
402, |
|
Date of Birth/Age : |
01.06.1959 |
|
Date of Appointment : |
05.09.1998 |
|
DIN No.: |
00458426 |
|
PAN No. : |
ADEP80725C |
|
|
|
|
Name : |
Mr. Mayurkant Kanhiyalal Shah |
|
Designation : |
Director |
|
Address : |
A-35, Kirtisagar Apartments, |
|
Date of Birth/Age : |
27.07.1975 |
|
Date of
Appointment : |
02.07.2007 |
|
DIN No.: |
01715326 |
|
|
|
|
Name : |
Mr. Mani Venkatachalam Iyer |
|
Designation : |
Director |
|
Address : |
A1/114 Nandan Apartments, Near Rajsurya Bunglows, Ramdevnagar, Ahmedabad – 380017, Gujarat,
India |
|
Date of Birth/Age : |
06.06.1965 |
|
Date of
Appointment : |
02.07.2007 |
|
DIN No.: |
01715385 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2012
SHAREHOLDING DETAIL FILE ATTACHED
As on 30.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
75.40 |
|
Other |
24.60 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of IT Products and Consumer Electronics Goods. |
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Products : |
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Agencies Held : |
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Exports : |
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Products : |
IT Products |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit (LC, T.T) |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users (Dealer)
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No. of Employees : |
270 (Approximately) |
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Bankers : |
Tel.
No.: 91-2642-260147
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Prakash Bhavsar and Associates Chartered Accountants |
|
Address : |
A – 106, Oxford Avenue, Opposite C. U. Shah College Income Tax,
Ahmedabad 380014, Gujarat, India |
|
PAN
No. : |
AAQPB5026P |
|
|
|
|
Associates : |
Care Info Solutions
Private Limited, India (CIN: U72500GJ2009PTC056855) |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2362888 |
Equity Shares |
Rs.10/- each |
Rs. 23.629 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
23.629 |
23.629 |
22.036 |
|
(b) Reserves & Surplus |
169.872 |
139.271 |
102.758 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
7.964 |
|
Total
Shareholders’ Funds (1) + (2) |
193.501 |
162.900 |
132.758 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
82.143 |
95.037 |
47.407 |
|
(b) Deferred tax liabilities (Net) |
0.287 |
0.287 |
0.287 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
82.430 |
95.324 |
47.694 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
456.991 |
398.242 |
364.347 |
|
(b) Trade
payables |
225.352 |
188.941 |
118.213 |
|
(c) Other
current liabilities |
3.459 |
3.473 |
0.511 |
|
(d) Short-term
provisions |
39.272 |
44.418 |
23.327 |
|
Total Current
Liabilities (4) |
725.074 |
635.074 |
506.398 |
|
|
|
|
|
|
TOTAL |
1001.005 |
893.298 |
686.850 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
46.110 |
38.044 |
41.564 |
|
(ii)
Intangible Assets |
0.132 |
0.023 |
0.000 |
|
(iii)
Capital work-in-progress |
2.751 |
1.247 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
48.993 |
39.314 |
41.564 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
619.956 |
495.547 |
428.930 |
|
(c) Trade
receivables |
291.532 |
317.921 |
180.906 |
|
(d) Cash
and cash equivalents |
20.759 |
22.481 |
18.365 |
|
(e) Short-term
loans and advances |
6.712 |
2.607 |
1.153 |
|
(f) Other
current assets |
13.053 |
15.428 |
15.932 |
|
Total
Current Assets |
952.012 |
853.984 |
645.286 |
|
|
|
|
|
|
TOTAL |
1001.005 |
893.298 |
686.850 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2085.405 |
2056.596 |
1675.224 |
|
|
|
Other Income |
1.124 |
0.515 |
64.252 |
|
|
|
TOTAL |
2086.529 |
2057.111 |
1739.476 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of trading
goods |
1922.881 |
1886.395 |
1639.850 |
|
|
|
Changes in
inventories of finished goods |
(124.409) |
(66.617) |
(96.913) |
|
|
|
Employee benefits
expense |
46.921 |
37.280 |
36.248 |
|
|
|
Other
administrative & selling & operation expenses |
109.623 |
87.997 |
72.655 |
|
|
|
TOTAL |
1955.016 |
1945.055 |
1651.840 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
131.513 |
112.056 |
87.636 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
76.426 |
59.852 |
42.690 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
55.087 |
52.204 |
44.946 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
6.319 |
5.823 |
5.133 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
48.768 |
46.381 |
39.813 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
18.167 |
16.239 |
14.746 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
30.601 |
30.142 |
25.067 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
Basic |
12.95 |
13.68 |
11.38 |
|
|
|
Diluted |
12.76 |
11.38 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.47
|
1.46 |
1.44 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.34
|
2.25 |
2.38 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.88
|
5.20 |
5.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.9 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.79
|
3.03 |
3.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31
|
1.34 |
1.27 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
Current
maturities of long-term debt |
|
|
|
|
Kotak Mahindra Prime Limited -(Hundai 1-20-1) |
0.104 |
0.183 |
|
|
Kotak Mahindra Prime Limited -(Hundall-20-2) |
0.103 |
0.183 |
|
|
Kotak Mahindra Prime Limited -(Skoda -laura) |
0.279 |
0.685 |
|
|
Kotak Mahindra Prime Limited -(DusterRA-7010) |
0.403 |
0.000 |
|
|
Kotak Mahindra Prime Limited (XUV 500 GJ 01 KR 7010) |
0.461 |
0.000 |
NA |
|
Kotak Mahlndra Prime Limited. (Leeva KP-7293) |
0.205 |
0.000 |
|
|
|
|
|
|
|
Total |
1.555 |
1.051 |
|
|
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 |
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 |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
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 Celller Vraj Vihar Tower Opposite Aryavrata
Bungalows, Behind Prerna-Tirth Bungalows, Jodhpur Gam Road, Satellite Ahmedabad
- 380015, Gujarat, India to the present address.
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Unsecured Loan |
80.995 |
94.643 |
|
|
|
|
|
Total |
80.995 |
94.643 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10421926 |
09/04/2013 |
803,000,000.00 |
BOI CONSORTIUM - BANK OF INDIA & CANARA
BANK |
AHMEDABAD MID CORPORATE BRANCH 1ST FLR BOI BLDG, NR SWASTIK CHAR RASTA, C G ROAD,
NAVRANGPURA, AHMEDABAD, Gujarat - 380009, INDIA |
B73799850 |
|
2 |
10421928 |
09/04/2013 |
803,000,000.00 |
BOI CONSORTIUM - BANK OF INDIA &
CANARA BANK |
AHMEDABAD MID CORPORATE BRANCH 1ST FLR BOI BLDG, NR SWASTIK CHAR RASTA, C G ROAD,
NAVRANGPURA, AHMEDABAD, Gujarat - 380009, INDIA |
B73800047 |
PERFORMANCE:
During the short span of Fifteen year the company has achieved turnover
of Rs.2086.500 millions and the company have achieved prominent position in the
office equipment products. The company has sustained growth rate in the
competitive environment of information technology and office equipment
products.
FIXED ASSETS
- Buildings
- Office building
- Plant and equipment
- Factory equipments
- Other plant and equipment
- Furniture and fixtures
- Vehicles
- Motor vehicles
- Office equipment
- Computer equipments
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.63.06 |
|
|
1 |
Rs.101.15 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
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 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
|
43 |
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.