MIRA INFORM REPORT
|
Report Date : |
10.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
JOSTS ENGINEERING COMPANY LIMITED |
|
|
|
|
Registered
Office : |
Great Social Building, 60, Sir Phiozeshah Mehta Road, Mumbai – 400001,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
09.05.1907 |
|
|
|
|
Com. Reg. No.: |
11-000252 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 7.646 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L28100MH1907PLC000252 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEJ04884F / MUMJ08367C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ1648A / AAACJ1658A |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Shares are Listed on
the Stock Exchanges. |
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|
|
|
Line of Business
: |
Manufacturing and Selling of Material Handling Equipments, Industrial Finishing, Machine Tools, etc. |
|
|
|
|
No. of Employees
: |
325 [Office=30 + Factory=127 + Branch=168] (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 540000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record.
There appears a dip in the turnover and profitability of the company during the
current year. However, general information position of the company is good.
Trade relation are reported as fair. Business is active. Payments are reported to be regular and as per new commitment. The company can be considered normal 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years respectively.
By 2020, emerging Asia will become the world’s largest consuming block,
overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
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/ Head Office : |
Great Social Building, 60, Sir Phiozeshah Mehta Road, Mumbai – 400001,
Maharashtra, India |
|
Tel. No.: |
91-22-22661150/ 22661166/ 61202300 |
|
Fax No.: |
91-22-22661951/ 61202345 |
|
E-Mail : |
infomhe@josts.in (Material Handling) bullowsthance@josts.in (Industrial Finishing) info@josts.in (Engineered Products) |
|
Website : |
|
|
|
|
|
Factory 1 : |
C-7, Wagle Industrial Estate, Road No. 12, Thane - 400604,
Maharashtra |
|
Tel. No.: |
91-22-25821727/ 25821746/ 25821748/ 25822083/ 61174000 |
|
Fax No.: |
91-22-25823478/ 61174020 |
|
E-Mail : |
|
|
|
|
|
Branches : |
Plot no. 3, Survey no. 126, Paud Road, Pune – 411038, Maharashtra,
India Tel. No.:91-20-25434390/
50 Fax No.:91-20-25434393 Email-id: marketing@josts.in Located at: Ř
Bangalore Ř
Vadodara Ř
Chennai Ř
Kolkata Ř
New Delhi Ř Secunderabad |
DIRECTORS
As on: 14.06.2013
|
Name : |
Mr. Burjor Hormusji Reporter |
|
Designation : |
Chairman |
|
Address: |
“Sunbeam”, 24-C, Bal Gangadhar Kher Marg, Mumbai-400006, Maharashtra,
India |
|
Date of Birth/ Age: |
13.02.1924 |
|
Qualification: |
Sr. Cambridge |
|
Date of Appointment : |
27.08.1953 |
|
|
|
|
Name : |
Mr. Shailesh Rajnikant Sheth |
|
Designation : |
Director |
|
Address: |
C-1712 Maple Leaf, Raheja Vihar, Chandivali Farm Road, (Powai),
Andheri (East) Mumbai – 400072, Maharashtra, India |
|
Date of Birth/Age: |
29.12.1946 |
|
Qualification: |
B. Com, MBA |
|
Date of Appointment: |
27.11.1997 |
|
PAN No.: |
AADPS9593D |
|
|
|
|
Name : |
Mr. Marco Philippus Ardeshir Wadia |
|
Designation : |
Directors |
|
Address: |
Thakur Niwas, 173, |
|
Date of Birth/ Age: |
30.01.1956 |
|
Qualification: |
B. A, (Hons), LLB |
|
Date of Appointment: |
02.06.1998 |
|
PAN No.: |
AAAPW3106D |
|
|
|
|
Name : |
Mr. Farokh Kekhushroo Banatwalla |
|
Designation : |
Director |
|
Address: |
603, Neelsagar, TPSIII 28th Roadl, Bandra West,
Mumbai-400050, |
|
Date of Birth/ Age: |
19.04.1949 |
|
Qualification: |
B. Com, LLB, CAIIN (1) |
|
Date of Appointment: |
21.04.2009 |
|
PAN No.: |
AEBPB5114M |
|
|
|
|
Name : |
Mr. Pradeep Kumar Bhargava |
|
Designation : |
Director |
|
Address: |
Flat No. 19, 3rd Floor, Cozy Retreat Sindh Society Road,
No. 3, Aundh, Pune-411007, |
|
Date of Birth/ Age: |
25.06.1949 |
|
Qualification: |
B. Sc. (Hons), B. E. Post Graduate Diploma in Business Administration |
|
Date of Appointment: |
30.10.2009 |
|
PAN No.: |
AAPPB8815R |
|
|
|
|
Name : |
Mr. Parviz Batiwala |
|
Designation : |
Director |
|
Address: |
13, West Glen Ave, Port Chester, NY 10573 USA |
|
Date of Birth/ Age: |
26.05.1949 |
|
Qualification: |
Art Diploma |
|
Date of Appointment: |
30.10.2009 |
KEY EXECUTIVES
|
Name : |
Mr. Chandrakant Bhalchandra Sagvekar |
|
Designation : |
Company Secretary |
|
Address : |
Kumar Co-Operative Housing Society, Block No. B 11, Koparl Road,
Dombivali (West), Thane-421202, Maharashtra, India |
|
Date of Birth/Age : |
01.12.1948 |
|
Date of Appointment : |
02.09.1996 |
|
PAN No.: |
ACRPS4712J |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.06.2013
|
Category
of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
184870 |
24.18 |
|
|
147040 |
19.23 |
|
|
331910 |
43.41 |
|
|
|
|
|
|
38000 |
4.97 |
|
|
38000 |
4.97 |
|
Total shareholding of Promoter and Promoter Group (A) |
369910 |
48.38 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
595 |
0.08 |
|
|
595 |
0.08 |
|
|
|
|
|
|
2482 |
0.32 |
|
|
|
|
|
|
198449 |
25.96 |
|
|
180489 |
23.60 |
|
|
12725 |
1.66 |
|
|
12725 |
1.66 |
|
|
394145 |
51.55 |
|
Total Public shareholding (B) |
394740 |
51.62 |
|
Total (A)+(B) |
764650 |
100.00 |
|
© Shares held by Custodians and against which Depository Receipts have
been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
764650 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of Material Handling Equipments, Industrial Finishing, Machine Tools, etc. |
||||
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Products : |
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||||
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Terms : |
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||||
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Selling : |
L/C |
||||
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|
|
||||
|
Purchasing : |
L/C and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
|
Material Handling Equipment |
Nos. |
Not Applicable |
The Company manufacturers
various products on versatile machines and hence the installed capacity
cannot be ascertained. |
545 |
GENERAL INFORMATION
|
No. of Employees : |
325 [Office=30 + Factory=127 + Branch=168] (Approximately) |
|
|
|
|
Bankers : |
Ř HDFC Bank
Limited, Manekji Wadia Building, Nanik Motwani Marg, Fort, Mumbai,
Maharashtra, India Ř The Zoroastrian
Co-operative Bank Limited Ř Standard
Chartered Bank Ř The South Indian
Bank Limited |
|
|
|
|
Credit Limits: |
Rs. 60.000 Millions
(From HDFC Bank Limited) |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Solicitors : |
Crawford Bayley and Company |
|
|
|
|
Auditors : |
|
|
Name : |
Sorab S. Engineer and Company Chartered Accountants |
|
Address: |
Fort, Mumbai – 400023, Maharashtra, India |
|
Email-id: |
|
|
|
|
|
Associates : |
CIN No.:U13519MH1966PTC013519
CIN No.:U29221MH1963PTC012756
CIN No.:U25209MH1975PTC018396
CIN No.:U99999MH1985PTC035486 |
CAPITAL STRUCTURE
As on: 14.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
764650 |
Equity Shares |
Rs. 10/- each |
Rs. 7.647
Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
764620 |
Equity Shares |
Rs. 10/- each |
Rs. 7.646
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
7.646 |
7.646 |
7.646 |
|
(b) Reserves & Surplus |
128.867 |
108.952 |
86.908 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
136.513 |
116.598 |
94.554 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.846 |
2.054 |
0.039 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
2.361 |
2.386 |
2.590 |
|
(d) long-term provisions |
29.778 |
26.746 |
24.515 |
|
Total Non-current
Liabilities (3) |
33.985 |
31.186 |
27.144 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
19.605 |
0.000 |
0.000 |
|
(b) Trade payables |
138.837 |
165.555 |
148.927 |
|
(c) Other current liabilities |
55.094 |
48.036 |
37.760 |
|
(d) Short-term provisions |
36.228 |
50.622 |
37.415 |
|
Total Current
Liabilities (4) |
249.764 |
264.213 |
224.102 |
|
|
|
|
|
|
TOTAL |
420.262 |
411.997 |
345.800 |
|
|
|
|
|
|
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
27.313 |
23.421 |
15.998 |
|
(ii) Intangible Assets |
0.642 |
1.283 |
1.700 |
|
(iii) Capital work-in-progress |
0.000 |
1.397 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.100 |
0.100 |
0.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.416 |
0.925 |
0.820 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
29.471 |
27.126 |
18.618 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
1.256 |
0.245 |
0.116 |
|
(b) Inventories |
86.614 |
61.222 |
59.444 |
|
(c) Trade receivables |
241.328 |
252.597 |
200.497 |
|
(d) Cash and cash equivalents |
29.329 |
28.066 |
34.632 |
|
(e) Short-term loans and advances |
31.697 |
42.309 |
32.493 |
|
(f) Other current assets |
0.567 |
0.432 |
0.000 |
|
Total Current Assets |
390.791 |
384.871 |
327.182 |
|
|
|
|
|
|
TOTAL |
420.262 |
411.997 |
345.800 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
762.058 |
803.377 |
779.051 |
|
|
|
Other Income |
1.168 |
1.052 |
1.108 |
|
|
|
TOTAL (A) |
763.226 |
804.429 |
780.159 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
285.563 |
252.996 |
183.235 |
|
|
|
Purchases of Traded Goods |
207.633 |
241.783 |
319.596 |
|
|
|
Changes in Inventories of Finished Goods, Work-in-Progress &
Stock-in-Trade |
(23.442) |
(4.042) |
0.784 |
|
|
|
Employee benefits expenses |
129.742 |
125.495 |
113.024 |
|
|
|
Other expenses |
103.026 |
110.535 |
101.722 |
|
|
|
TOTAL (B) |
702.522 |
726.767 |
718.361 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
60704 |
77.662 |
61.798 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.690 |
1.814 |
1.409 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
58.014 |
75.848 |
60.389 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.769 |
5.587 |
5.314 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
51.245 |
70.261 |
55.075 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
18.000 |
26.000 |
11.098 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
33.245 |
44.261 |
43.977 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
79.672 |
62.128 |
40.323 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
4.500 |
4.398 |
|
|
|
Proposed Dividend |
NA |
19.116 |
15.293 |
|
|
|
Tax on Dividend |
NA |
3.101 |
2.481 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
79.672 |
62.128 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission |
NA |
64.864 |
53.553 |
|
|
|
Export of goods (F.O.B. value) |
NA |
0.000 |
2.375 |
|
|
TOTAL EARNINGS |
NA |
64.864 |
55.928 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components |
NA |
13.168 |
21.163 |
|
|
|
Traded Goods |
NA |
70.131 |
114.820 |
|
|
TOTAL IMPORTS |
NA |
83.299 |
135.983 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
43.48 |
57.88 |
57.51 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2013 1st
Quarter |
|
Audited / Unaudited |
Unaudited |
|
Net Sales |
142.400 |
|
Total Expenditure |
141.300 |
|
PBIDT (Excl OI) |
1.100 |
|
Other Income |
0.400 |
|
Operating Profit |
1.500 |
|
Interest |
0.800 |
|
Exceptional Items |
0 |
|
PBDT |
0.700 |
|
Depreciation |
1.300 |
|
Profit Before Tax |
(0.600) |
|
Tax |
0 |
|
Provisions and contingencies |
0 |
|
Profit After Tax |
(0.600) |
|
Extraordinary Items |
0 |
|
Prior Period Expenses |
0 |
|
Other Adjustments |
0 |
|
Net Profit |
(0.600) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.36 |
5.51 |
5.63 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.72 |
8.75 |
7.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.20 |
17.11 |
15.93 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.38 |
0.60 |
0.58 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.16 |
0.01 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.57 |
1.46 |
1.46 |
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 |
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 |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
No |
|
34] |
External Agency Rating, if available |
No |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10371522 |
03/08/2012 |
2,170,000.00 |
THE ZOROASTRIAN CO-OPERATIVE BANK LIMITED |
YUSUF BUILDING, VEER NARIMAN ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B56041932 |
|
2 |
10140434 |
25/07/2013 * |
110,000,000.00 |
THE ZOROASTRIAN CO-OPERATIVE BANK LIMITED |
FORT BRANCH, YUSUF BUILDING, V. N. ROAD,, MUMBAI, MAHARASHTRA - 400023, INDIA |
B81968125 |
|
3 |
10123437 |
09/03/2013 * |
60,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B72037310 |
|
4 |
10022862 |
15/01/2013 * |
50,000,000.00 |
THE ZOROASTRIAN CO-OPERATIVE BANK LIMITED |
NIRLON HOUSE, 5TH FLOOR, DR. ANNIE BESENT ROAD, WORLI, MUMBAI, MAHARASHTRA - 400030, INDIA |
B67338459 |
|
5 |
90242712 |
24/05/2005 |
4,500,000.00 |
THE ZOROASTRION BANK |
MAIN BRANCH, BOMBAY, MAHARASHTRA, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
a) Tangible Assets
Ř Leasehold Land
Ř Buildings
Ř Computers and
Peripherals
Ř Furniture and
Fixtures
Ř Office equipment
Ř Plant and
Machinery
Ř Vehicles
b) Intangible Assets
Ř Technical Know-How
Ř Trademarks
Ř 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. 61.91 |
|
|
1 |
Rs. 99.45 |
|
Euro |
1 |
Rs. 83.92 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
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 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
|
52 |
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.