MIRA INFORM REPORT
|
Report Date : |
23.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
LONGULF TRADING ( |
|
|
|
|
Registered
Office : |
Times Square, A Wing, 5th Floor, Unit 1-B, Andheri Kurla
Road, Andheri (East), Mumbai – 400059, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
06.05.1996 |
|
|
|
|
Com. Reg. No.: |
11-099287 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.870
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1996PTC099287 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUML04586B MUML02293E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL1075D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Exporter of Agricultural Commodities such as rice, chick peas, coriander seeds, pulses, mango pulp, etc. and also deals in exports of other non Agricultural Commodities, such as T Shirts, Engineering Items, Food Additives, Chemicals, Mineral Oil, Leather Items etc, |
|
|
|
|
No. of Employees
: |
45 (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 1660000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Trade relations are reported as fair. Business is active. Payment are reported
to be regular. The company can be considered normal for business dealings at usual
trade terms and condition. |
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
India’s current
account deficit or CAD in April-June widened to 4.9 % of gross domestic
product. High imports of gold and oil led to a worsening of the traqde deficit,
resulting in CAD jumping to $ 21.8 billion to the latest quarter from $ 16.9
billion in the corresponding quarter of the previous financial year. The
government aims to bring down CAD to 3.7 % or $ 70 billion, in 2013/14, from
4.8 % or $ 88.2 billion in 2012/13.
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been
named the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top
spot for the world’s most honest city while Lisbon, the capital of Portugal,
proved to be the least honest. The survey put hundreds of people to test
in four continents to find out just how honest they were by dropping wallets
and seeing how many would be returned.
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
SE 1B |
|
Rating Explanation |
Highest performance capability and moderate financial strength. |
|
Date |
28.12.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Santosh |
|
Designation : |
Account Executive |
|
Contact No.: |
91-22-67600900 |
|
Date : |
24.09.2013 |
LOCATIONS
|
Registered Office : |
Times Square, A Wing, 5th Floor, Unit 1-B, Andheri Kurla Road,
Andheri (East), Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-22-67600900 |
|
Fax No.: |
91-22-66459400/ 67600910 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head Office : |
Longulf Trading ( Prince Albert House, 2
Kingsmill Terrace, |
|
Tel. No.: |
+ 44 (0) 20
77227733 |
|
Fax No.: |
+ 44 (0) 20
77222989 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Longulf Hangzhou Office :
|
Longulf Trading ( Room 2006, |
|
Tel. No.: |
+ 86 571 8506 0302 |
|
Fax No.: |
+ 86 571 8506 0332 |
|
E-Mail : |
|
|
|
|
|
Longulf |
|
|
Tel. No.: |
+ 20 2 2414 2810 |
|
Fax No.: |
+ 20 2 2417 7438 |
|
E-Mail : |
|
|
|
|
|
Longulf |
Janka Krala 2, 048 01
Roznava, |
|
Tel. No.: |
+ 421 58 733 1122 |
|
Fax No.: |
+ 421 58 733 1122 |
|
E-Mail : |
|
|
|
|
|
Longulf |
No |
|
Tel. No.: |
+ 98 21 3399 8632 |
|
Fax No.: |
+ 98 21 3398 1653 |
|
E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Dirhem Abdo Saeed Anam |
|
Designation : |
Director |
|
Address : |
1, |
|
Date of Birth/Age : |
21.07.1952 |
|
Date of Appointment : |
30.04.1997 |
|
DIN No.: |
03112379 |
|
|
|
|
Name : |
Mr. Abdul Rahaman Hayel Saeed |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
18.02.1942 |
|
Date of Appointment : |
30.04.1997 |
|
|
|
|
Name : |
Mr. Rajesh Bhagchand Golechha |
|
Designation : |
Director |
|
Address : |
231, Antariksha, K.G. Marg, Prabhadevi, Mumbai – 400025, |
|
Date of Birth/Age : |
13.08.1964 |
|
Date of Appointment : |
02.03.1998 |
|
DIN No.: |
00037455 |
KEY EXECUTIVES
|
Name : |
Mr. Santosh |
|
Designation : |
Account Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Frimex Investment L.L.C., U.A.E |
|
641550 |
|
Neo-Pharma Private Limited, India |
|
345450 |
|
Total |
|
987000 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
65.00 |
|
Bodies corporate |
35.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporter of Agricultural Commodities such as rice, chick peas, coriander seeds, pulses, mango pulp, etc. and also deals in exports of other non Agricultural Commodities, such as T Shirts, Engineering Items, Food Additives, Chemicals, Mineral Oil, Leather Items etc, |
|
|
|
|
Imports : |
|
|
Products : |
Oil |
|
Countries : |
Indonesia |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesaler and Retailer |
|
|
|
|
No. of Employees : |
45 (Approximately) |
|
|
|
|
Bankers : |
· Axis Bank Limited, Andheri (East), Mumbai, Maharashtra, India ·
Axis Bank Limited, Axis House, Ground Floor, Bombay Dyeing
Mills Compound, Pandurang Budhkar Marg, Worli, Mumbai - 400025, Maharashtra,
India ·
Credit Agricole Indosuez, 169 Backbay Reclamation,
Mumbai - 400020, Maharashtra, India |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dalal Doctor and Associates Chartered Accountants |
|
Address : |
305, TV Industrial Estate, 248/A, S.K. Marg, Behind Glaxo, Worli, Mumbai
– 400 018, |
|
Tel. No.: |
91-22-66625050 |
|
Mobile No.: |
91-9867555050/ 9867555051 |
|
Fax No.: |
91-22-66627890 |
|
E-Mail : |
|
|
PAN No. : |
AACFD9379H |
|
|
|
|
Names of related
parties by whom control is exercised : |
· Frimex Investment LLC · Neo Pharma Private Limited |
|
|
|
|
Fellow Subsidiaries
with whom transactions have taken place during the year : |
· Longulf Trading (U.K.) Limited · Omar Kassem Alesayi Marketing Company Limited · National Food Industries Company Limited · United Carton Industries Company Limited · National Biscuit and Confectionery Company Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1250000 |
Equity Shares |
Rs.10/- each |
Rs.12.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
987000 |
Equity Shares |
Rs.10/- each |
Rs.9.870
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
9.870 |
9.870 |
|
(b) Reserves & Surplus |
|
404.906 |
375.439 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
414.776 |
385.309 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
2.602 |
4.319 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
2.602 |
4.319 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
117.500 |
0.000 |
|
(b) Trade
payables |
|
53.878 |
167.775 |
|
(c) Other
current liabilities |
|
12.798 |
124.283 |
|
(d) Short-term
provisions |
|
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
|
184.176 |
292.058 |
|
|
|
|
|
|
TOTAL |
|
601.554 |
681.686 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
5.590 |
6.442 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
67.905 |
55.395 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
3.176 |
0.873 |
|
(d) Long-term Loan and Advances |
|
0.000 |
45.278 |
|
(e) Other
Non-current assets |
|
11.106 |
8.209 |
|
Total Non-Current
Assets |
|
87.777 |
116.197 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
101.008 |
187.097 |
|
(c) Trade
receivables |
|
332.739 |
221.328 |
|
(d) Cash
and cash equivalents |
|
9.754 |
145.389 |
|
(e)
Short-term loans and advances |
|
36.660 |
0.000 |
|
(f) Other
current assets |
|
33.616 |
11.675 |
|
Total
Current Assets |
|
513.777 |
565.489 |
|
|
|
|
|
|
TOTAL |
|
601.554 |
681.686 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
7.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
332.046 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
339.046 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
339.046 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
7.765 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.602 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
52.569
|
|
|
Sundry Debtors |
|
|
228.544
|
|
|
Cash & Bank Balances |
|
|
133.914
|
|
|
Other Current Assets |
|
|
16.189
|
|
|
Loans & Advances |
|
|
25.215
|
|
Total
Current Assets |
|
|
456.431
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
74.796
|
|
|
Other Current Liabilities |
|
|
26.266
|
|
|
Provisions |
|
|
24.690
|
|
Total
Current Liabilities |
|
|
125.752
|
|
|
Net Current Assets |
|
|
330.679
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
339.046 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL (A) |
3269.033 |
2111.482 |
1932.232 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
3212.401 |
2043.651 |
1744.725 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
56.632 |
67.831 |
187.507 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
12.002 |
3.484 |
3.252 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
44.630 |
64.347 |
184.255 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.365 |
1.695 |
1.532 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
43.265 |
62.652 |
182.723 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
13.797 |
19.259 |
62.878 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
29.468 |
43.393 |
119.845 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
375.228 |
331.835 |
211.990 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
404.696 |
375.228 |
331.835 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
|
1932.656 |
1894.013 |
|
|
|
Commission |
|
19.919 |
4.275 |
|
|
TOTAL EARNINGS |
3149.075 |
1952.575 |
1898.288 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
29.86 |
43.96 |
171.21 |
|
%20PRIVATE%20LIMITED%20-%20237287%202%20(REVISED%20REPORT)%2023-Oct-2013_files/image001.gif){kind=small}
|
Particulars |
|
|
31.03.2013 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
1400.000 (Less Sales
Order) |
|
|
|
|
|
The above information has been parted by Mr. Santosh (Account Executive)
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.90
|
2.06
|
6.20
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.16
|
10.02
|
39.36
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.16
|
0.54
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.28
|
0.00
|
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.79
|
1.94
|
3.63
|
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Current maturities of long-term debt |
0.000 |
0.000 |
NA |
|
|
|
|
|
|
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
four years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
Yes |
|
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 |
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 |
10322084 |
28/10/2011 |
300,000,000.00 |
AXIS BANK LIMITED |
AXIS HOUSE, GROUND FLOOR, BOMBAY DYEING MILLS COMP., PANDURANG BUDHKAR MARG, WORLI, MUMBAI - 400025, MAHARASHTRA, INDIA |
B27412261 |
UNSECURED LOANS
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Working capital loans from banks |
117.500 |
0.000 |
|
Total |
117.500 |
0.000 |
NOTE
The registered office of the company has been shifted from, B/204,
Citipoint, Andheri Kurla Road, J.B. Nagar, Andheri (East), Mumbai – 400059,
Maharashtra, India, to the present address w.e.f. 24.04.2012.
FIXED ASSETS
· Plant and Equipment
· Other plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Office Equipment
· Other 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.61.78 |
|
|
1 |
Rs.99.66 |
|
Euro |
1 |
Rs.84.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
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.