MIRA
INFORM REPORT
|
Report Date : |
04.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
DESICCANT ROTORS INTERNATIONAL PRIVATE LIMITED [w.e.f.20.02.2006] |
|
|
|
|
Formerly Known
As : |
ARCTIC INDIA ENGINEERING PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
20, Rajpur Road, Civil Lines, New Delhi - 110054 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
06.02.1984 |
|
|
|
|
Com. Reg. No.: |
55-017497 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 0.400
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1984PTC017497 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Energy Recovery Products and Other Equipments for
Ventilation, Fresh Air Treatment. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 4587000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed company having a good track
record. Financially company seems to be performing well. Liquidity position
appears to be good. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitments. The company can be considered for normal 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 Office : |
20, Rajpur Road, Civil Lines, New Delhi – 110054, India |
|
Tel. No.: |
91-11-23906666 |
|
Fax No.: |
91-11-23906600 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
100-101, Udyog Vihar, Phase - IV, Gurgaon - 122015,
Haryana, India |
|
Tel. No.: |
91-124-4188888 |
|
Fax No.: |
91-124-4188800 |
|
E-Mail : |
|
|
|
|
|
Branch Office 1 : |
319-T.V.Tower, Industrial Estate, Worli, Mumbai - 400025,
Maharashtra, India |
|
Tel. No.: |
91-22-24935155/ 24947475/ 24925175 |
|
Fax No.: |
91-022-24931020 |
|
E-Mail : |
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|
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Branch Office 2 : |
Shivam Chambers, 53 Syed Amir Ali Avenue, Kolkata -
700019, West Bengal, India |
|
Tel. No.: |
91-33-22814841/ 22814877 |
|
Fax No.: |
91-33-22814850 |
|
E-Mail : |
|
|
|
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|
Branch Office 3 : |
New #5, Old #20, 2nd Street, E-Block, Anna Nagar-East,
Chennai - 600102, Tamilnadu, India |
|
Tel. No.: |
91-44-42693761/ 62 |
|
Fax No.: |
91-44-42026406 |
|
E-Mail : |
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Overseas Offices : |
Located at: · USA UAE Korea Netherlands [Europe] Japan Malaysia China Australia Brazil |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Deepak Pahwa |
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|
Designation : |
Director |
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|
Address : |
20, Rajpur Road, Civil Lines, New Delhi – 110054, India |
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|
Date of Appointment : |
06.02.1984 |
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|
DIN No.: |
00176606 |
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Other Directorship :
|
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|
Name : |
Mrs. Vinita Pahwa |
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|
Designation : |
Director |
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|
Address : |
20, Rajpur Road, Civil Lines, New Delhi – 110054, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
06.02.1984 |
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|
DIN No.: |
00176643 |
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|
Other Directorship :
|
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Deepak Pahwa |
|
2971 |
|
Vinita Pahwa |
|
1030 |
|
|
|
|
|
Total |
|
4001 |
AS ON 28.09.2012
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Energy Recovery Products and Other Equipments for
Ventilation, Fresh Air Treatment. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
|
|
|||||||||||||||
|
Bankers : |
· Citibank N.A, Jeevan Bharti Building, 4th Floor, 124 Connaught Circus, Connaught Place, New Delhi - 110001, India The Royal Bank of Scotland N. V., 4, North Avenue, Level
3, Maker Maxity, Bandra Kurla Complex, Bandra East, Mumbai - 400051, Maharashtra,
India ABN Amro Bank NV, Hansalaya Building, 15 Barakhamba Road,
New Delhi - 110001, India |
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|
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Facilities : |
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|||||||||||||||
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|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Walker Chandiok and Company Chartered Accountants |
|
Address : |
L-41, Connaught Circus, New Delhi – 110001, India |
|
Tel. No.: |
91-11-42787070 |
|
Fax No.: |
91-11-42787071 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFW4298E |
|
|
|
|
Subsidiaries : |
Desiccant Rotors International Inc USA |
|
|
|
|
Entities over which KMP is able to
exercise significant Control : |
·
Bry Air (Asia) Private Limited Delair India Private Limited Technical Drying Services
(Asia) Private Limited Insent Commercial Private Limited Ahlberg+Hennrich GMBH Bry Air (Malaysia) Sdn. Bhd. Bry Air (Shanghai) Air Treatment Eqp. Company Limited Accentium Web Private Limited Arctic India Sales Private Limited Airgineers (Global) Private Limited Pahwa (Holding) Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25,000 |
Equity Shares |
Rs. 100/- each |
Rs. 2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,001 |
Equity Shares |
Rs. 100/- each |
Rs. 0.400
Million |
|
|
|
|
|
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 |
|
0.400 |
0.400 |
|
(b) Reserves & Surplus |
|
1146.264 |
954.260 |
|
(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) |
|
1146.664 |
954.660 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.015 |
1.689 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
4.402 |
2.972 |
|
Total Non-current
Liabilities (3) |
|
4.417 |
4.661 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
26.580 |
43.291 |
|
(b)
Trade payables |
|
89.251 |
64.993 |
|
(c) Other
current liabilities |
|
12.516 |
8.166 |
|
(d) Short-term
provisions |
|
11.791 |
0.773 |
|
Total Current
Liabilities (4) |
|
140.138 |
117.223 |
|
|
|
|
|
|
TOTAL |
|
1291.219 |
1076.544 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
111.807 |
119.253 |
|
(ii)
Intangible Assets |
|
1.675 |
1.678 |
|
(iii)
Capital work-in-progress |
|
9.139 |
6.414 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1.180 |
1.180 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
4.188 |
10.530 |
|
(e) Other
Non-current assets |
|
0.500 |
0.500 |
|
Total Non-Current
Assets |
|
128.489 |
139.555 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
630.795 |
504.821 |
|
(b)
Inventories |
|
125.069 |
110.717 |
|
(c)
Trade receivables |
|
317.005 |
235.062 |
|
(d) Cash
and cash equivalents |
|
37.632 |
28.289 |
|
(e)
Short-term loans and advances |
|
53.231 |
58.100 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
1163.732 |
936.989 |
|
|
|
|
|
|
TOTAL |
|
1291.219 |
1076.544 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.400 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
835.375 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
835.775 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
29.930 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
29.930 |
|
|
DEFERRED TAX LIABILITIES |
|
|
2.930 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
868.635 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
117.833 |
|
|
Capital work-in-progress |
|
|
12.514 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
371.181 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
86.206 |
|
|
Sundry Debtors |
|
|
255.629 |
|
|
Cash & Bank Balances |
|
|
37.860 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
65.155 |
|
Total
Current Assets |
|
|
444.850 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
55.944 |
|
|
Other Current Liabilities |
|
|
19.070 |
|
|
Provisions |
|
|
2.729 |
|
Total
Current Liabilities |
|
|
77.743 |
|
|
Net Current Assets |
|
|
367.107 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
868.635 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
724.047 |
651.400 |
584.297 |
|
|
|
Other Income |
59.297 |
21.028 |
18.285 |
|
|
|
TOTAL (A) |
783.344 |
672.428 |
602.582 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
526.834 |
488.802 |
440.333 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
[Including
Depreciation Expenses] |
183.626 |
162.249 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
16.081 |
10.092 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
256.510 |
167.545 |
152.157 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
64.506 |
48.660 |
48.130 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
192.004 |
118.885 |
104.027 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export value of goods |
418.898 |
354.088 |
290.664 |
|
|
|
Interest |
0.380 |
0.333 |
0.215 |
|
|
TOTAL EARNINGS |
419.278 |
354.421 |
290.879 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials, components and stores |
48.730 |
53.127 |
41.907 |
|
|
|
Capital Goods |
2.144 |
0.000 |
11.152 |
|
|
TOTAL IMPORTS |
50.874 |
53.127 |
53.059 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
47988.91 |
29713.91 |
26000.14 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
24.51
|
17.68 |
17.26 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
35.43
|
25.72 |
26.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.01
|
15.67 |
27.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.18 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.02
|
0.05 |
0.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
8.30
|
7.99 |
5.72 |
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 |
No |
|
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 |
No |
|
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 |
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 |
No |
|
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 |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10430959 |
11/06/2013 |
110,000,000.00 |
CITIBANK N.A |
JEEVAN BHARTI
BUILDING, 4TH FLOOR, 124 CONNAUGHT |
B77040848 |
|
2 |
10140160 |
13/01/2009 |
10,000,000.00 |
ABN AMRO BANK N.V |
HANSALYA BUILDING, 15 BARAKHAMBA ROAD, NEW DELHI - 110001, INDIA |
A55856942 |
|
3 |
90335974 |
12/01/2013 * |
110,000,000.00 |
THE ROYAL BANK OF SCOTLAND N. V. |
4, NORTH AVENUE, LEVEL 3, MAKER MAXITY, BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI – 400051, MAHARASHTRA, INDIA |
B67335141 |
|
4 |
90335416 |
11/06/1990 |
4,500,000.00 |
ANZ GRINDLAYS BANK |
H - BLOCK CONNAUGHT CIRCUS, NEW DELHI, INDIA |
- |
* Date of charge modification
CORPORATE
INFORMATION:
Subject was incorporated on February 6, 1984. The Company is involved in
manufacturing energy recovery products and other equipments for ventilation,
fresh air treatment for maintaining indoor air quality.
PERFORMANCE HIGHLIGHTS:
During the financial year, the profit before tax has increased by 53.13%
from Rs. 167.545 Millions to Rs. 256.510 Millions and profit after tax
increased by 61.48% from Rs. 118.885 Millions to Rs. 192.004 Millions.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. in Millions) |
|
|
Estimated liability on account of pending export obligation |
1.814 |
1.688 |
|
Income tax demand in respect of Assessment year 2006-07* |
0.724 |
0.724 |
|
Income tax demand in respect of Assessment year 2007-08** |
1.921 |
1.921 |
|
Income tax demand in respect of Assessment year 2008-09*** |
5.964 |
5.964 |
|
Income tax demand in respect of Assessment year 2009-10**** |
3.863 |
0.000 |
|
Note: * The Company has received a demand order of Rs. 0.724
Million under income tax act for the Assessment year 2006-07. The Company has
deposited Rs. 0.375 Million under protest for the same. The matter is
currently lying with Commissioner of Income-Tax (Appeal). ** The Company has received a demand order of Rs. 1.921
Millions under income tax act for the Assessment year 2007-08. The Company
has deposited Rs. 0.600 Million under protest for the same. The matter is
currently lying with Income Tax Appellate Tribunal. *** The Company has received a demand order of Rs. 5.964
Millions under income tax act for the Assessment year 2008-09. The Company
has deposited Rs. 5.964 Millions under protest for the same. The matter is
currently lying with Commissioner of Income-Tax (Appeal). **** The Company has received a demand order of Rs. 3.863
Millions under income tax act for the Assessment year 2009-10. The matter is
currently lying with Commissioner of Income-Tax (Appeal). |
||
FIXED ASSETS:
Tangible Assets
· Land
Buildings
Plant
and Machinery
Furniture
and Fixture
Vehicles
Office
Equipments
Computers
Intangible Assets
· Trademarks
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 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. 66.89 |
|
|
1 |
Rs. 103.95 |
|
Euro |
1 |
Rs. 88.10 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
63 |
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.