|
Report Date : |
29.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
RAVIN CABLES LIMITED |
|
|
|
|
Registered
Office : |
302, Akruti Trade Centre, 3rd Floor, Road No. 7, MIdC, Marol, Andheri (East), Mumbai –
400 093, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
11.11.1982 |
|
|
|
|
Com. Reg. No.: |
11-028700 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.209.230
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31300MH1982PLC028700 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR14564E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR6590F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Power Cables and Electrical Accessories. |
|
|
|
|
No. of Employees : |
250 (Approximately) (In Office + In Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4236000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of “Prysmian Group”. It is a well established company having moderate track record. Financials
for the year 2012, 2013 are not available. Mr. Kalpesh Modi, V.P. Finance
provided with us all the information and also confirmed turnover figure but
it is not verified. As per available record of the year 2011 it seems that
the company has recorded losses from its operations. However, net worth of the company is satisfactory. The company gets
good support from its group companies. Trade relations are reported as fair.
Business is active. Payment terms are unknown. The company can be considered for business dealings with some caution.
|
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 Explanation |
Moderate degree of safety. It carry moderate credit risk. |
|
Date |
January 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A3 + (Short Term) |
|
Rating Explanation |
Moderate degree of safety. It carry higher credit risk. |
|
Date |
January 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. Kalpesh Modi |
|
Designation : |
V P Finance Department |
|
Contact No.: |
91-22-30816666 |
|
Date : |
27.11.20123 |
LOCATIONS
|
Registered / Administrative / Head Office : |
302, Akruti Trade Centre, 3rd Floor, Road No. 7, MIdC, Marol, Andheri (East), Mumbai – 400
093, |
|
Tel. No.: |
91-22-30816666 |
|
Fax No.: |
91-22-30816661 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory/Works : |
Gat No. 227/230, Alandi – Markal Main Road, Markal Village, Taluka –
Khed, District Pune - 412105, Maharashtra, India |
|
Tel. No.: |
91-2137-391099 |
|
Fax No.: |
91-2137-391066 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Located At : · Pune · Delhi · Bangalore · Indore · Secundarabad · Baroda · Chennai · Raipur · Kolkatta · Kochi ·
Ahmedabad |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Mario Tomasi |
|
Designation : |
Nominee Director |
|
Address : |
Viale Roma No.24, Province Of Trento, Municipality Of Rivadel Garda,
Italy-38066 |
|
Date of Birth/Age : |
17.11.1970 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
03008139 |
|
|
|
|
Name : |
Mr. Vijay Pramod Karia |
|
Designation : |
Chairman and Managing Director |
|
Address : |
A 1202, Surya Apartment, |
|
Date of Birth/Age : |
06.05.1965 |
|
Date of Appointment : |
01.04.1987 |
|
DIN No.: |
00621999 |
|
|
|
|
Name : |
Mr. Piyush Jagdishchandra Karia |
|
Designation : |
Whole Time Director |
|
Address : |
B-204, Darshan Apartments, |
|
Date of Birth/Age : |
19.08.1966 |
|
Date of Appointment : |
01.01.2009 |
|
DIN No.: |
00621985 |
|
|
|
|
Name : |
Mr. Hans Gunnar Staffan Hogstet |
|
Designation : |
Nominee Director |
|
Address : |
VIA, Aurelio Saffi, 33, Milano, Italy-20123 |
|
Date of Birth/Age : |
21.03.1968 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
02921080 |
|
|
|
|
Name : |
Mr. Luigi L Sarogni |
|
Designation : |
Director |
|
Address : |
Frazione Olesi No. 1, Municipality of Borgo Priolo, Province of Pavia,
Italy |
|
Date of Birth/Age : |
01.05.1954 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
03110510 |
KEY EXECUTIVES
|
Name : |
Mr. Vinayak Motiram Shirsat |
|
Designation : |
Com pany Secretary |
|
Address : |
9/A/401, Ekta Co-operative Housing Society, Mhada Colony, Chandivali,
Andheri (East), Mumbai – 400 072, Maharashtra, India. |
|
Date of Birth/Age : |
03.06.1965 |
|
Date of Appointment : |
01.08.2006 |
|
Pan No.: |
AAAPS6554M |
|
|
|
|
Name : |
Mr. Kalpesh Modi |
|
Designation : |
Vice President (Finance) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
SHAREHOLDING
DETAILS FILE ATTACHED
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
51.69 |
|
Bodies corporate |
0.01 |
|
Directors or relatives of Directors |
46.90 |
|
Other top fifty shareholders |
1.40 |
|
|
|
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Power Cables and Electrical Accessories. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Primecab Cables |
||||
|
Countries : |
·
Europe ·
Middle East ·
Asian Country ·
USA ·
UK |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Materials |
||||
|
Countries : |
·
US ·
Middle East ·
Europe |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash and Credit |
||||
|
|
|
||||
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production # |
|
Cables |
Kms |
16500 |
16500 |
7282.88 |
# includes captive consumption of 3.29kms. And
cables scrapped of 44.64kms.
GENERAL INFORMATION
|
Customers : |
Automobiles ·
Eicher Motors Limited ·
Maruti Udyog Limited Chemical Plants · Acco Industries Limited · Asian Paints India Limited Cement ·
Associated Cement Company Limited ·
Chanakya Cements Limited Hospitals ·
Contemporary Healthcare Private Limited ·
Engineering · Antelec Limited · Apar Limited Fertilizers ·
Hindustan Fertilizers Corporation Limited ·
Indian Farmer Fertilizers Co-Op Government ·
Airport Authority Of · Centre For Advance Technology Mines · Sesa Goa Limited · Sese Industries Limited Glass ·
Goa Glass Fibre Limited ·
Haldyan Glass [Gujarat ] Limited Steels ·
Bharat Aluminium Company Limited ·
D. Private Wires Private Limited |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
250 (Approximately) (In Office + In Factory) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
·
Central Bank of India, Abdul Rehman Street Branch,
142/144, Abdul Rehman Street, Mumbai – 400 003, Maharashtra, India. ·
Barclays Bank Plc, 601/603, Ceejay House,
Shivsagar Estate, Dr. Annie Basant Road, Worli, Mumbai-400018, Maharashtra,
India ·
Standard Chartered Bank, ·
The Shamrao Vitthal Co-operative Bank Limited,
Vanvaria Apartments, S. V. Road, Khar, Mumbai-400052, Maharashtra, India ·
HSBC Limited ·
HDFC Bank limited |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
Total Facilities
: Rs.2150.000 Millions (From Central Bank of India)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
K S Aiyar and Company |
|
|
Chartered Accountants |
|
Address : |
F7, Laxmi Mills, |
|
Pan No : |
AAAFK6843P |
|
|
|
|
Holding Company : |
·
Prysmian Cavi E Sistemi Energia S.R.L., Italy |
|
|
|
|
Ultimate Holding Company |
·
Prysmian SPA |
|
|
|
|
Fellow Subsidiaries of Ultimate Holding Company: |
·
Prysmain Baosheng Cable Company Limited, China ·
Prysmain Kabel Und Systeme GmbH, Germany ·
Prysmain Cables ET Systeme France SAS, France ·
Prysmain Cavi E Sistemi Itali SRL, Italy |
|
|
|
|
Associates : |
·
Power Plus Cable Company LLC (PPC) |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorized Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
24500000 |
Equity Shares |
Rs.10/- each |
Rs.245.000 Millions |
|
|
500000 |
Preference Shares |
Rs.10/- each |
Rs.5.000
Millions |
|
|
|
Total
|
|
Rs.250.000
Millions |
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20923011 |
Equity Shares |
Rs.10/- each |
Rs.209.230 Millions |
|
|
|
|
|
NOTES:
(Of the above 10670736 Nos. of shares are held
by Prysmain Cavi E Sistemi Energla S.R.L., Italy [Holding Company] which
includes 4499936 Nos. of shares of Rs. 10/- each at a premium of Rs. 125/- per share
were issued and allotted during the year)
(Of the above shares 5150150 nos. of shares
were allotted as fully paid up bonus shares by capitalization of Rs. 51.501
millions from securities premium and general reserve)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
209.230 |
209.230 |
164.231 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
849.818 |
1048.577 |
574.723 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1059.048 |
1257.807 |
738.954 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
379.520 |
255.580 |
726.324 |
|
|
2] Unsecured Loans |
92.582 |
95.661 |
105.661 |
|
|
TOTAL BORROWING |
472.102 |
351.241 |
831.985 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
1.300 |
|
|
|
|
|
|
|
|
TOTAL |
1531.150 |
1609.048 |
1572.239 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
215.090 |
224.363 |
248.568 |
|
|
Capital work-in-progress |
1.272 |
5.204 |
0.350 |
|
|
|
|
|
|
|
|
INVESTMENT |
291.223 |
196.202 |
196.202 |
|
|
DEFERREX TAX ASSETS |
25.855 |
6.407 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
436.409
|
429.245
|
447.199 |
|
|
Sundry Debtors |
1181.110
|
569.694
|
794.718 |
|
|
Cash & Bank Balances |
133.302
|
285.651
|
137.427 |
|
|
Other Current Assets |
2.712
|
4.562
|
0.000 |
|
|
Loans & Advances |
139.010
|
110.073
|
347.185 |
|
Total
Current Assets |
1892.543
|
1399.225
|
1726.529 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
775.467
|
157.020
|
12.401 |
|
|
Other Current Liabilities |
105.121
|
61.755
|
263.316 |
|
|
Provisions |
14.245
|
3.578
|
212.084 |
|
Total
Current Liabilities |
894.833
|
222.353
|
599.410 |
|
|
Net Current Assets |
997.710
|
1176.872
|
1127.119 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1531.150 |
1609.048 |
1572.239 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales of Production and Services |
2598.598 |
1660.988 |
3049.957 |
|
|
|
Other Income |
49.600 |
11.704 |
8.177 |
|
|
|
TOTAL (A) |
2648.198 |
1672.692 |
3058.134 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing and Other Expenses |
2497.943 |
1325.854 |
2453.745 |
|
|
|
Employees Remuneration and Benefits |
131.648 |
97.488 |
106.253 |
|
|
|
Selling and Distribution Expenses |
168.230 |
206.075 |
0.000 |
|
|
|
Exchange Rate Difference |
0.000 |
0.000 |
62.283 |
|
|
|
(Increase) / Decrease in Stock |
0.000 |
0.000 |
140.761 |
|
|
|
TOTAL (B) |
2797.821 |
1629.417 |
2763.042 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(149.623) |
43.275 |
295.092 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
31.341 |
74.763 |
125.602 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(180.964) |
(31.488) |
169.490 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
36.653 |
40.672 |
44.144 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(217.617) |
(72.160) |
125.346 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(18.858) |
(7.025) |
45.061 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(198.759) |
(65.135) |
80.285 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
200.486 |
265.621 |
227.038 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
10.000 |
|
|
|
Proposed Dividend |
0.000 |
0.000 |
27.098 |
|
|
|
Tax on Proposed Dividend |
0.000 |
0.000 |
4.604 |
|
|
BALANCE CARRIED
TO THE B/S |
1.727 |
200.486 |
265.621 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
114.805 |
485.573 |
992.131 |
|
|
|
Income from Services |
0.000 |
0.000 |
2.398 |
|
|
|
Gain on Exchange |
0.000 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
114.805 |
485.573 |
994.529 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
781.464 |
278.064 |
122.509 |
|
|
|
Capital Goods |
1.971 |
0.136 |
5.378 |
|
|
|
Trading Goods |
378.642 |
13.671 |
94.504 |
|
|
TOTAL IMPORTS |
1162.077 |
291.871 |
222.391 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(9.50) |
(3.76) |
4.89 |
|
|
Particulars |
|
31.03.2013 |
31.03.2012 |
|
Sales Turnover (Approximately) |
|
2900.000 |
4100.000 |
Expected Sales (2013-14): Rs.3300.000
The above information has been parted by Mr. Kalpesh Modi.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(7.50)
|
(3.89)
|
2.63 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(8.37)
|
(4.34)
|
4.11 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(10.32)
|
(4.44)
|
6.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.20)
|
(0.05)
|
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.45
|
0.28
|
1.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.11
|
6.29
|
2.88 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF LONG TERM
DEBT: NOT AVAILABLE
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
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 |
Yes |
|
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 |
No |
|
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 |
INDEX OF CHARGES:
|
S.
No. |
Charge
ID |
Date
of Charge Creation/Modification |
Charge
amount secured |
Charge
Holder |
Address |
Service
Request Number (SRN) |
|
1 |
10123027 |
27/06/2009
* |
200,000,000.00 |
BARCLAYS
BANK PLC |
601/603,
CEEJAY HOUSE, SHIVSAGAR ESTATE, DR. ANNIE BESANT ROAD, WORLI, MUMBAI -
400018, MAHARASHTRA, INDIA |
A67823518 |
|
2 |
90240523 |
10/08/2011
* |
2,150,000,000.00 |
CENTRAL
BANK OF INDIA |
ABDUL
REHMAN STREET BRANCH, 142/144 ABDUL REHMAN |
B22208433 |
|
* Date of charge
modification |
||||||
DETAILS OF
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
|
Interest Free Sales Tax Loan (repayable within a period of one year RS. 7.037 millions) |
92.582 |
95.661 |
|
|
|
|
|
TOTAL |
92.582 |
95.661 |
OPERATIONAL
PERFORMANCE:
For the year the
Company achieved a turnover of Rs.2598.598 Millions (Previous Year -
Rs.1660.988 Millions). The Company has incurred Net Loss of Rs.198.759 Millions
(Previous Year – Net Profit of Rs. 65.135 Millions). The company registered an
increase of more than 50% in sale turnover as compared to previous year. The
directors are confident of improving the performance during the current
financial year.
FIXED ASSETS:
· Computer Software
· Land
· Building
· Plant and
machinery
· Vehicles
· Furniture and
Fixtures
· Computer and
Peripherals
· Office Equipment
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.62.39 |
|
|
1 |
Rs.101.80 |
|
Euro |
1 |
Rs.84.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.