|
Report Date : |
14.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
MIDDAY INFOMEDIA LIMITED |
|
|
|
|
Registered
Office : |
Peninsula Centre, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
16.01.2008 |
|
|
|
|
Com. Reg. No.: |
11-177808 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 198.703 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22130MH2008PLC177808 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM33902B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCM4778H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged primarily in printing and publication of Newspaper.
|
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1664000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a 100% subsidiary of Jagran Prakashan Limited. It is a well established and reputed company having good track record.
It will maintain its stable credit risk profile, backed by the business and
financial support of its parent and the brand strength of its dailies. The company has incurred huge losses for past two years. However,
trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. 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.
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
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took
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
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
AA- = Long Term Rating |
|
Rating Explanation |
High degree of safety and very low credit
risk |
|
Date |
08.08.2012 |
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 DENIED
Management Non-Cooperative. (Tel No.: 91-22-67017171)
LOCATIONS
|
Registered Office : |
Peninsula Centre, |
|
Tel. No.: |
91-22-67017171/24197171 |
|
Fax No.: |
91-22-24141919/24150009 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Press : |
Plot No. R-847/3, T.T.C. Industrial Area, Rabale, Navi Mumbai, Maharashtra, India |
|
|
|
|
Branch Office : |
Located At:
|
DIRECTORS
As on 11.07.2013
|
Name : |
Mr. Tarique Khalid Ansari |
|
Designation : |
Director |
|
Address : |
103/A, Cumballa Crest, |
|
Date of Birth/Age : |
11.06.1961 |
|
Date of Appointment : |
16.01.2008 |
|
DIN No.: |
00101820 |
|
|
|
|
Name : |
Mr. Sanjay Narendra Mohan Gupta |
|
Designation : |
Director |
|
Address : |
C-26, Friends Colony, East New Delhi - 110 065, India |
|
Date of Birth/Age : |
20.12.1962 |
|
Date of Appointment : |
31.03.2011 |
|
DIN No.: |
00028734 |
|
|
|
|
Name : |
Mr. Shailesh Mahendra Mohan Gupta |
|
Designation : |
Director |
|
Address : |
Puran Niwas, 7/51, Tilak Nagar, |
|
Date of Birth/Age : |
07.04.1969 |
|
Date of Appointment : |
31.03.2011 |
|
DIN No.: |
00192466 |
|
|
|
|
Name : |
Mr. Amit Mahendra Kumar Dixit |
|
Designation : |
Director |
|
Address : |
Thakur Nivas, Flat No. 21, 173 Jamshedji Tata Road,Churchgate, Mumbai
– 400 020, Maharashtra, India |
|
Date of Birth/Age : |
26.01.1973 |
|
Date of Appointment : |
31.03.2011 |
|
DIN No.: |
01798942 |
|
|
|
|
Name : |
Mr. Vikas Joshi |
|
Designation : |
Managing Director |
|
Address : |
129/4556, Tribhuvan Co-operative
Hosing Society, New Tilak Nagar, Next to Railway Station, Chembur,
Mumbai - 400089, Maharashtra, India |
|
Date of Birth/Age : |
24.011.1987 |
|
Date of Appointment : |
21.05.2013 |
|
DIN No.: |
06619579 |
KEY EXECUTIVES
|
Name : |
Pranali Parekh |
|
Designation : |
Secreatry |
|
Address : |
D/501, Vasant Aradhana, Mahavir Nagar, Kandivali (West), Mumbai –
400067, Maharashtra, India |
|
Date of Birth/Age : |
18.11.1987 |
|
Date of Appointment : |
22.04.2013 |
|
PAN No.: |
AZGPP7574B |
|
|
|
|
Name : |
Mr. Manish Galrani |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
As on 11.07.2013
|
Names of Equity Shareholders |
|
No. of Shares |
|
Jagran Prakashan Limited, India |
|
9519516 |
|
Sanjay Narendra Mohan Gupta |
|
1 |
|
Shailesh Mahendra Mohan Gupta |
|
1 |
|
R.K. Sawan Ram Agarwal |
|
1 |
|
Rajeshri Jaywant Bolaikar |
|
1 |
|
Ferari Investments and Trading Company Private Limited, |
|
350805 |
|
Manish Gupta |
|
1 |
|
Vikas Joshi |
|
1 |
|
Total |
|
9870327 |
|
Names of Preferences Shareholders |
|
No. of Shares |
|
Ferari Investments and Trading Company Private Limited, |
|
10000000 |
|
Total |
|
10000000 |
Equity Share Break up (Percentage of Total Equity)
As on 11.07.2013
|
Category |
Percentage |
|
Bodies
corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged primarily in printing and publication of Newspaper.
|
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
|
|
|
|
|
Newspaper |
No.
of copies in Lakhs |
0.80 |
744.24 |
NOTES:
a)
Actual production of newspaper includes 7.370
Millions (Previous year: Rs.7.794 Millions) copies for the distribution,
advertisement promotion, voucher files and unsold copies.
b)
The Company does not have opening and closing of
finished goods, hence disclosures relating thereto are not applicable.
c)
Turnover with respect to Advertisements comprises
revenue from selling of advertising space. The sale of such advertisement space
cannot be expressed in any generic unit; hence it is not possible to give the
quantitative details of turnover.
d)
Turnover with respect to other Operating Activities
comprises revenue from Job Work, and Content Syndication which cannot be
expressed in terms of quantity; hence it is not possible to give quantitative
details
e)
Previous year figures are in brackets.
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
|
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
Nature of security Secured by
hypothecation of Stocks, Book Debts, Plant and Machinery and other Fixed
Assets of the Company. Also secured by charge on fixed assets in the name of the
Company i.e. plant and machineries, equipments, vehicles, etc. (both existing
and proposed) and equitable mortgage of Factory Land and Building situated on
Plot No. R-847/3, TTC Industrial Area, Rabale, Navi Mumbai. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountant |
|
Address : |
Building 8, 7th and 8th floor, Tower B, DLF Cyber City, Gurgaon-122002, Haryana, India |
|
PAN No: |
AAEFP3641G |
|
|
|
|
Holding Company: |
CIN No.: L22219UP1975PLC004147 |
|
|
|
|
Entities in
which Directors have significant influence: |
|
CAPITAL STRUCTURE
As on 11.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
10000000 |
Preferences Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
Total
|
|
Rs.200.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9870327 |
Equity Shares |
Rs.10/- each |
Rs.98.703 Millions |
|
10000000 |
Preferences Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
Total
|
|
Rs.198.703
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
198.703 |
192.123 |
188.615 |
|
(b) Reserves & Surplus |
217.323 |
216.892 |
153.493 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
416.026 |
409.015 |
342.108 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
48.712 |
76.491 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
40.000 |
60.000 |
0.000 |
|
(d) long-term
provisions |
23.751 |
28.537 |
25.212 |
|
Total Non-current
Liabilities (3) |
112.463 |
165.028 |
25.212 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
150.000 |
143.763 |
120.411 |
|
(b) Trade
payables |
230.915 |
146.992 |
131.635 |
|
(c) Other
current liabilities |
159.355 |
94.987 |
55.481 |
|
(d) Short-term
provisions |
3.756 |
0.986 |
2.116 |
|
Total Current
Liabilities (4) |
544.026 |
386.728 |
309.643 |
|
|
|
|
|
|
TOTAL |
1072.515 |
960.771 |
676.963 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
422.718 |
362.466 |
287.762 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
1.288 |
|
(iii)
Capital work-in-progress |
0.070 |
53.796 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
117.000 |
107.000 |
20.000 |
|
(c) Deferred tax assets (net) |
10.050 |
18.878 |
10.778 |
|
(d) Long-term Loan and Advances |
33.063 |
50.172 |
46.392 |
|
(e) Other
Non-current assets |
12.977 |
8.511 |
8.511 |
|
Total Non-Current
Assets |
595.878 |
600.823 |
374.731 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
70.636 |
0.000 |
0.00 |
|
(b)
Inventories |
98.516 |
47.298 |
72.582 |
|
(c) Trade
receivables |
249.778 |
243.552 |
191.757 |
|
(d) Cash
and cash equivalents |
27.076 |
15.137 |
3.558 |
|
(e)
Short-term loans and advances |
29.341 |
10.102 |
11.719 |
|
(f) Other
current assets |
1.290 |
43.859 |
22.616 |
|
Total
Current Assets |
476.637 |
359.948 |
302.232 |
|
|
|
|
|
|
TOTAL |
1072.515 |
960.771 |
676.963 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1155.316 |
1135.997 |
1065.200 |
|
|
|
Other Income |
5.300 |
10.409 |
26.518 |
|
|
|
TOTAL |
1160.616 |
1146.406 |
1091.718 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
377.889 |
331.192 |
257.667 |
|
|
|
Employee benefit expense |
316.566 |
339.623 |
296.821 |
|
|
|
Other expenses |
499.336 |
430.687 |
367.576 |
|
|
|
Prior period items |
0.000 |
0.000 |
22.817 |
|
|
|
TOTAL |
1193.791 |
1101.502 |
944.881 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(33.175) |
44.904 |
146.837 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
29.521 |
13.401 |
19.307 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(62.696) |
31.503 |
127.530 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
60.630 |
52.694 |
90.330 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
EXCEPTIONAL ITEMS AND TAX |
(123.326) |
(21.191) |
37.200 |
|
|
|
|
|
|
|
|
|
|
EXCEPTIONAL
ITEMS |
(10.866) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
(134.192) |
(21.191) |
37.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
8.827 |
(8.100) |
16.608 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(143.019) |
(13.091) |
20.592 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(9.592) |
3.500 |
(17.099) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(152.611) |
(9.592) |
3.493 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Advertising Revenue |
NA |
9.460 |
9.911 |
|
|
TOTAL EARNINGS |
NA |
9.460 |
9.911 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Newsprint Imports |
NA |
227.820 |
252.147 |
|
|
TOTAL IMPORTS |
NA |
227.820 |
252.147 |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (Rs.) |
(21.91) |
(5.66) |
1.32 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(12.32)
|
(1.14)
|
1.87 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(11.62)
|
(1.87)
|
3.49 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(25.62)
|
(5.069)
|
10.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.32)
|
(0.05)
|
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.48
|
0.54
|
0.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.87
|
0.93
|
0.98 |
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 |
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Loans and advances from related parties |
48.712 |
76.491 |
|
Short Term
Borrowings |
|
|
|
Loans and advances from related parties |
150.000 |
0.000 |
|
Total |
198.712 |
76.491 |
NOTE: CURRENT
MATURITY OF LONG TERM DEBT DETAIL NOT AVAILABLE
FINANCIAL REVIEW:
During
the year the Company has earned income of Rs. 1160.600 Millions as compared to
Rs. 1146.400 Millions in the last year. On the other side, Company has incurred
expenditure of Rs. 1283.9000 Millions (previous year Rs. 1167.600 Millions)
thereby giving Loss before Tax of Rs. 134.200 Millions (previous year Rs.
21.200 Millions). After deducting Rs. 8.800 Millions towards deferred tax
(previous year Rs. 8.100 Millions), Net Loss after Tax was standing at Rs.
143.000 Millions (previous year Rs. 13.100 Millions). After adding thereto
negative balance brought forward from previous year Rs. 9.600 Millions
(previous year positive balance of Rs. 3.500 Millions). Loss of Rs. 152.600
Millions (previous year loss of Rs. 9.600 Millions) was carried forward to the
Balance Sheet.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U22130MH2008PLC177808 |
|
Name of the
company |
MIDDAY INFOMEDIA
LIMITED |
|
Address of the
registered office or of the principal place of business in |
Peninsula Centre,
Dr. S.S. Rao Road, Opposite Mahatma Gandhi, Hospital, Parel (East),
Mumbai-400012, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
Central Bank of India, Industrial Finance Branch, Nariman Point,
Mumbai - 400021, Maharashtra, India |
|
Nature of
instrument creating charge |
As per memorandum
of entry dated 26 September 2012. |
|
Date of
instrument Creating the charge |
26.09.2012 |
|
Amount secured by
the charge |
Rs.200.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest As per bank
guidelines Terms of Repayment Sanctioned credit
facilities will be reviewed every year. Margin Since the land and
building is provided as collateral security, margin will be as stipulated by
central bank of india from time to time. Extent and Operation of the charge Equitable
mortgage on land and building of the company situated at Plot No R-847/3, TTC
Industrial Area, Rabale, Navi Mumbai 400710 to cover the working capital
limit of Rs. 200.000 Millions sanctioned by Central Bank of India, Industrial
Finance Branch, Nariman Point, Mumbai 400021 as per memorandum of entry dated
26 September 2012. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Land and Building
of the company situated at Plot No R-847/3 , TTC Industrial Area, Rabale,
Navi Mumbai 400710 |
FIXED ASSETS:
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. 63.79 |
|
|
1 |
Rs. 100.73 |
|
Euro |
1 |
Rs. 84.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
|
50 |
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.