MIRA INFORM REPORT
|
Report Date : |
11.10.2013 |
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) : |
31.03.2012 |
|
|
|
|
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
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 650000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having satisfactory track record. The external borrowings
of the company appears to be increasing over years which can be a threat to
the company’s liquidity. However, the operational performance is good. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. 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.
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 |
|
Designation : |
Account Department |
|
Contact No.: |
91-79-40013000 |
|
Date : |
09.10.2013 |
LOCATIONS
|
Registered
Office : |
GF - 8, Zodiac Square, Besides Vishal Mega Mart, Opposite
Gurudwara, S G Highway, Ahmedabad – 380054, Gujarat, India |
|
Tel. No.: |
Not Available |
|
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 |
KEY EXECUTIVES
|
Name : |
Mr. Dharani |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2012
SHAREHOLDING DETAIL FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2012
|
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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Imports : |
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Products : |
Laptop |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
250 (Approximately) |
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Bankers : |
Tel.
No.: 91-2642-260147
|
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Facilities : |
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|
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|
Banking
Relations : |
-- |
|
|
|
|
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 |
|
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
23.629 |
22.036 |
|
(b) Reserves & Surplus |
|
139.271 |
102.758 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
7.964 |
|
Total Shareholders’
Funds (1) + (2) |
|
162.900 |
132.758 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
45.988 |
47.407 |
|
(b) Deferred tax liabilities (Net) |
|
0.287 |
0.287 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
46.275 |
47.694 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
|
450.138 |
364.347 |
|
(b) Trade payables |
|
188.941 |
118.213 |
|
(c) Other current liabilities |
|
0.625 |
0.511 |
|
(d) Short-term provisions |
|
44.419 |
23.327 |
|
Total Current
Liabilities (4) |
|
684.123 |
506.398 |
|
|
|
|
|
|
TOTAL |
|
893.298 |
686.850 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
38.044 |
41.564 |
|
(ii) Intangible Assets |
|
0.023 |
0.000 |
|
(iii) Capital work-in-progress |
|
1.247 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
39.314 |
41.564 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
495.547 |
428.930 |
|
(c) Trade receivables |
|
317.921 |
180.906 |
|
(d) Cash and cash equivalents |
|
22.481 |
18.365 |
|
(e) Short-term loans and advances |
|
2.607 |
1.153 |
|
(f) Other current assets |
|
15.428 |
15.932 |
|
Total Current
Assets |
|
853.984 |
645.286 |
|
|
|
|
|
|
TOTAL |
|
893.298 |
686.850 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
22.036 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
77.691 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
99.727 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
238.794 |
|
|
2] Unsecured Loans |
|
|
32.594 |
|
|
TOTAL BORROWING |
|
|
271.388 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
371.115 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
33.464 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
332.016 |
|
|
Sundry Debtors |
|
|
177.044 |
|
|
Cash & Bank Balances |
|
|
3.953 |
|
|
Other Current Assets |
|
|
11.674 |
|
|
Loans & Advances |
|
|
8.395 |
|
Total
Current Assets |
|
|
533.082 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
170.859 |
|
|
Other Current Liabilities |
|
|
5.117 |
|
|
Provisions |
|
|
19.576 |
|
Total
Current Liabilities |
|
|
195.552 |
|
|
Net Current Assets |
|
|
337.530 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.121 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
371.115 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1980.175 |
1675.224 |
1383.326 |
|
|
|
Other Income |
76.937 |
64.252 |
48.567 |
|
|
|
TOTAL (A) |
2057.112 |
1739.476 |
1431.893 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of
stock-in-trade |
1886.395 |
1639.850 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(66.617) |
(96.913) |
|
|
|
|
Employee benefit
expense |
37.280 |
36.248 |
|
|
|
|
Other expenses |
87.998 |
72.655 |
|
|
|
|
TOTAL (B) |
1945.056 |
1651.840 |
1361.557 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
112.056 |
87.636 |
70.336 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
59.852 |
42.690 |
33.378 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
52.204 |
44.946 |
36.958 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.823 |
5.133 |
4.559 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
46.381 |
39.813 |
32.399 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
16.239 |
14.746 |
12.005 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
30.142 |
25.067 |
20.394 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
102.758 |
77.691 |
57.297 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
133.170 |
102.758 |
77.691 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.76 |
11.38 |
10.15 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
2070.000 |
|
|
|
|
|
The above information has been parted by Mr. Dharani
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.47
|
1.44 |
1.42 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.34
|
2.38 |
2.34 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.20
|
5.80 |
5.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.30 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.05
|
3.10 |
2.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25
|
1.27 |
2.73 |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
four 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) |
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 |
Yes |
|
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.
PERFORMANCE:
During the short
span of Fourteen year the company has achieved turnover of Rs.2057.100 Millions which was 18.26% more since the last year
turnover 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.
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
LONG-TERM
BORROWINGS |
|
|
|
Loans and advances from others |
45.594 |
46.138 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Deposits from others |
2.848 |
3.836 |
|
|
|
|
|
Total |
48.442 |
49.974 |
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 ANDCANARA 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 AND CANARA BANK |
AHMEDABAD MID CORPORATE BRANCH 1ST FLR BOI BLDG, NR SWASTIK CHAR RASTA, C G ROAD, NAVRANGPURA, AHMEDABAD, GUJARAT - 380009, INDIA |
B73800047 |
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.62.14 |
|
|
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.83.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
VRN |
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 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.