MIRA INFORM REPORT
|
Report Date : |
06.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
INTERNATIONAL CARS AND MOTORS LIMITED |
|
|
|
|
Registered
Office : |
Sonalika House 283, Agcr Enclave, Karkardooma, Delhi -110092 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
24.12.2003 |
|
|
|
|
Com. Reg. No.: |
55-123687 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.444.444 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24300DL2003PLC123687 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABC12403D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of multi utility vehicle and related
parts |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (18) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record.
There appear huge accumulated losses recorded by the company. The liquidity
position seems to be weak. The company can be considered for business dealings on a safe and
secured trade terms and condition. NOTE: Latest Profit and Loss account for the year 2012 is not available. |
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 : |
Sonalika House 283, Agcr Enclave, Delhi -110092, India |
|
Tel. No.: |
91-11-45192200 |
|
Fax No.: |
91-11-22370492 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
Pankaj Plaza – 1, Plot No. 2 Karkardooma, Community Centre, Commercial
Complex, Delhi – 110092, India |
|
Tel. No.: |
91-11-22373785, 22373791, 22373789 |
|
Fax No.: |
91-11-22379332, 22377472, 22370492 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Villege Chak Gujran, P.O. Piplanwala, Jalandhar Road,
Hoshiarpur – 146022, Punjab, India |
|
Tel. No.: |
91-1882-302220, 221, 223 |
|
Fax No.: |
91-1882-302222 |
DIRECTORS
As on: 25.09.2012
|
Name : |
Mr. Lachman Dass Mittal |
|
Designation : |
Director |
|
Address : |
283, Sonalika House Agcr Enclave, Karkardooma, Delhi -110092, India |
|
Date of Birth/Age : |
05.11.1930 |
|
Date of Appointment : |
24.12.2003 |
|
DIN No. : |
00296922 |
|
|
|
|
Name : |
Mr. Amrit Sagar Mittal |
|
Designation : |
Director |
|
Address : |
Sonalika Estate, DC Road, Hoshiarpur – 146001, Punjab, India |
|
Date of Birth/Age : |
03.08.1953 |
|
Date of Appointment : |
24.12.2003 |
|
DIN No. : |
00307471 |
|
|
|
|
Name : |
Mr. Deepak Mittal |
|
Designation : |
Managing director |
|
Address : |
Sonalika Estate, DC Road, Hoshiarpur – 146001, Punjab, India |
|
Date of Birth/Age : |
23.03.1960 |
|
Date of Appointment : |
24.12.2003 |
|
DIN No. : |
00307448 |
|
|
|
|
Name : |
Mr. Raman Mittal |
|
Designation : |
Director |
|
Address : |
Sonalika Estate, DC Road, Hoshiarpur – 146001, Punjab, India |
|
Date of Birth/Age : |
29.11.1984 |
|
Date of Appointment : |
08.03.2006 |
|
DIN No. : |
00298756 |
|
|
|
|
Name : |
Nr. Sushant Sagar Mittal |
|
Designation : |
Director |
|
Address : |
Sonalika Estate, DC Road, Hoshiarpur – 146001, Punjab, India |
|
Date of Birth/Age : |
18.08.1987 |
|
Date of Appointment : |
08.03.2007 |
|
DIN No. : |
00307274 |
|
|
|
|
Name : |
Mr. Pranab Ghosal |
|
Designation : |
Director |
|
Address : |
Flat No. 1, Building No. 3, Atur Park, Koregaon Road, Pune – 411001,
Maharashtra, India |
|
Date of Birth/Age : |
07.02.1962 |
|
Date of Appointment : |
30.06.2010 |
|
DIN No. : |
03099685 |
KEY EXECUTIVES
|
Name : |
Mr. Ashish Gupta |
|
Designation : |
Secretary |
|
Address : |
105, Guru Nanak Nagar, Opposite Sports College, Kapurthala Road, Jalandhar
– 144002, Punjab, India |
|
Date of Birth/Age : |
24.07.1984 |
|
Date of Appointment : |
09.12.2008 |
|
PAN No. : |
ALGPG6512L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 25.09.2012
|
Names of Shareholders |
No. of Shares |
|
Lachman Dass Mittal |
14814749 |
|
Amrit Sagar Mittal |
14814648 |
|
Deepak Mittal |
14814647 |
|
Mittal Rani Raj |
100 |
|
Mittal Sagar |
100 |
|
Mittal Neeru |
100 |
|
Raman Mittal |
100 |
|
|
|
|
Total |
44444444 |
As on: 25.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of multi utility vehicle and related
parts |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Teran Associates Chartered Accountants |
|
Address : |
The Mall Road, Near Shimla, Pahari, Hoshiarpur - 146001, Punjab, India
|
|
Tel. No.: |
91-1882-222384, 242384 |
|
E-Mail : |
|
|
PAN No. : |
AACFT9093N |
|
|
|
|
Related Parties : |
Ø AD Softweb Private
Limited Ø Lloyd Housing
Private Limited Ø AD Trading
Private Limited Ø Lloyd Real
Estate Private Limited Ø Adinath Motors
Private Limited Ø Precision Gauges
and Tools Private Limited Ø Agriculture
Industries Ø RG Technologies
Private Limited Ø AL Softweb Private
Limited Ø RS Infra
Promoters Private Limited Ø ALD Info
Technologies Private Limited Ø RS Softweb
Private Limited Ø AP Engineering Ø Sona Auto Agro
Tractors and Components Private Limited Ø Aroma Infrabuild
Private Limited Ø Sona
Communications Private Limited Ø Auto Industries Ø Sona Golden
Greens Private Limited Ø Casting
Corporation of India Ø Sona Infosystems
Private Limited Ø Cllasic Vehicles
and Components Limited Ø Sona Softweb
Private Limited Ø DA Technologies
Private Limited Ø Sonalika Agriculture
Automation Private Limited Ø DL Technologies
Private Limited Ø Sonalika
Agriculture Industries Ø Forest Bliss
Developers Private Limited Ø Sonalika Agro
Industries Corporation Ø Forest Greens
Developers Private Limited Ø Sona Auto
Agriculture Private Limited Ø Forest Peace
Developers Private Limited Ø Sonalika Auto
components Private Limited Ø Golden Farming
Private Limited Ø Sonalika Capital
Limited Ø Indian Tractors
and Components Limited Ø Sonalika
Developers Limited Ø International
Autotrac Finance Limited Ø Sonalika Farm
Equipment Private Limited Ø International
Engineers Ø Sonalika
Infrastructure Limited Ø International
Softweb Limited Ø Sonalika Private
Limited Ø International
Tractors Limited Ø Sonalika
Promoters and Developers Limited Ø Jagdambay
Furnaces Private Limited Ø Sunshine
Components Private Limited Ø LD Infotech (P)
Limited VVN Trading Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
44444444 |
Equity Shares |
Rs.10/- each |
Rs.444.444 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 |
|
444.444 |
444.444 |
|
(b) Reserves & Surplus |
|
(935.662) |
(750.300) |
|
(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) |
|
(491.218) |
(305.856) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1209.158 |
842.758 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
6.222 |
5.844 |
|
Total Non-current
Liabilities (3) |
|
1215.380 |
848.602 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
0.000 |
0.000 |
|
(b) Trade
payables |
|
245.545 |
507.173 |
|
(c) Other
current liabilities |
|
36.876 |
56.481 |
|
(d) Short-term
provisions |
|
1.927 |
2.967 |
|
Total Current
Liabilities (4) |
|
284.348 |
566.621 |
|
|
|
|
|
|
TOTAL |
|
1008.510 |
1109.367 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
475.341 |
522.363 |
|
(ii)
Intangible Assets |
|
12.077 |
30.245 |
|
(iii)
Capital work-in-progress |
|
1.937 |
0.000 |
|
(iv)
Intangible assets under development |
|
288.543 |
30.290 |
|
(b) Non-current Investments |
|
0.200 |
0.200 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
24.632 |
268.258 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
802.730 |
851.356 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
1.341 |
|
(b)
Inventories |
|
106.792 |
118.884 |
|
(c) Trade
receivables |
|
69.922 |
79.205 |
|
(d) Cash
and cash equivalents |
|
9.342 |
28.863 |
|
(e)
Short-term loans and advances |
|
19.724 |
29.635 |
|
(f) Other
current assets |
|
0.000 |
0.083 |
|
Total
Current Assets |
|
205.780 |
258.011 |
|
|
|
|
|
|
TOTAL |
|
1008.510 |
1109.367 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
444.444 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
497.275 |
|
|
4] (Accumulated Losses) |
|
|
(932.682) |
|
|
NETWORTH |
|
|
9.037 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
294.174 |
|
|
2] Unsecured Loans |
|
|
411.300 |
|
|
TOTAL BORROWING |
|
|
705.474 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
714.511 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
636.558 |
|
|
Capital work-in-progress |
|
|
294.673 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1.478 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
121.702 |
|
|
Sundry Debtors |
|
|
130.184 |
|
|
Cash & Bank Balances |
|
|
11.438 |
|
|
Other Current Assets |
|
|
14.978 |
|
|
Loans & Advances |
|
|
23.397 |
|
Total
Current Assets |
|
|
301.699 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
458.523 |
|
|
Other Current Liabilities |
|
|
48.907 |
|
|
Provisions |
|
|
12.467 |
|
Total
Current Liabilities |
|
|
519.897 |
|
|
Net Current Assets |
|
|
(218.198) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
714.511 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
362.526 |
538.462 |
|
|
|
Other Income |
|
7.839 |
8.195 |
|
|
|
TOTAL |
|
370.365 |
546.657 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Other Expenses |
|
548.196 |
741.820 |
|
|
|
TOTAL |
|
548.196 |
741.820 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
(195.163) |
(177.831) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
31.153 |
36.359 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
(226.316) |
(214.190) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
103.709 |
99.666 |
|
|
|
|
|
|
|
|
|
|
LOSS BEFORE
PRIOR PERIOD ADJUSTMENTS AND TAX EXPENSES |
NA |
(330.025) |
(313.856) |
|
|
|
|
|
|
|
|
|
Add |
PRIOR PERIOD
EXPENSES |
|
(0.127) |
(0.578) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
|
(330.152) |
(314.434) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
(0.155) |
0.460 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
|
(329.997) |
(314.894) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
0.504 |
NA |
|
|
|
TOTAL IMPORTS |
|
0.504 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
(7.42) |
(7.08) |
|
NOTE: Latest Profit and Loss account for the year 2012 is not available.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
(89.10) |
(57.60) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
(91.07) |
(58.39) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
(30.60) |
(33.51) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
1.08 |
(34.79) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(2.46)
|
(2.75) |
78.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.72
|
0.45 |
0.58 |
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 two years |
Yes |
|
12] |
Profitability
for last two 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 |
No |
|
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 |
No |
|
33] |
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
No |
UNSECURED LOAN:
|
Particulars |
31.03.2012 [Rs.
in Millions] |
31.03.2011 [Rs.
in Millions] |
|
Long Term
Borrowing |
|
|
|
Loan and advance from directors |
1209.158 |
842.758 |
|
|
|
|
|
Total |
1209.158 |
842.758 |
INDEX CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10013274 |
04/12/2008 * |
39,300,000,000.00 |
DIRECTOR OF INDUSTRIES |
HIMACHAL PRADESH, THROUGH GENERAL MANAGER,
DISTRIC, INDUSTRIES CENTRE, NEAR ITI, UNA, Himachal Pradesh - 174303, INDIA |
A51601813 |
* Date of charge modification
FIXED ASSETS:
Ø Land
Ø Building
Ø Furniture and Fixture
Ø Equipments
Ø Computer
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.66.04 |
|
|
1 |
Rs.103.11 |
|
Euro |
1 |
Rs.86.99 |
INFORMATION DETAILS
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
18 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.