1. Summary Information
|
Country |
|
||
|
Company Name |
MERCURY
MANUFACTURING COMPANY LIMITED |
Principal Name 1 |
Mr. Percy Eruch Fouzdar |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Phiroze Dinshaw Lam |
|
Registration # |
18-23748 |
||
|
Street Address |
Plot No. D - 3, |
||
|
Established Date |
11.11.1992 |
SIC Code |
-- |
|
Telephone# |
91-44-22628002/ 22628593 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-44-22628344 |
Business Style 2 |
Export |
|
Homepage |
Product Name 1 |
Steel furniture |
|
|
# of employees |
Information
declined by the management |
Product Name 2 |
-- |
|
Paid up capital |
Rs.
37,500,000/- |
Product Name 3 |
- |
|
Shareholders |
Foreign Holdings - 58.10% Bodies Corporate - 41.90% |
Banking |
Indian Bank |
|
Public Limited Corp. |
No |
Business Period |
20 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
C.E.O |
|
Enterprises having control over reporting enterprises |
India |
Godrej and Boyce Manufacturing Company Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
83,411,000 |
Current Liabilities |
58,785,000 |
|
Inventories |
71,263,000 |
Long-term Liabilities |
0,000 |
|
Fixed Assets |
48,089,000 |
Other Liabilities |
5,512,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
64,297,000 |
|
Invest& other Assets |
196,000 |
Retained Earnings |
101,162,000 |
|
|
|
Net Worth |
138,662,000 |
|
Total Assets |
202,959,000 |
Total Liab. & Equity |
202,959,000 |
|
Total Assets (Previous Year) |
178,286,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
281,759,000 |
Net Profit |
4,552,000 |
|
Sales(Previous yr) |
258,984,000 |
Net Profit(Prev.yr) |
569,000 |
MIRA INFORM REPORT
|
Report Date : |
03.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
MERCURY MANUFACTURING COMPANY LIMITED |
|
|
|
|
Registered
Office : |
Plot No. D – 3, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
11.11.1992 |
|
|
|
|
Com. Reg. No.: |
18-023798 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 37.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28112TN1992PLC023798
|
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and export of steel furniture. |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 540000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating reflects sound financial risk profile marked by adequate
liquidity position and fair profitability achieved by the company during
financial year 2013. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
India’s current account deficit for the fiscal third quarter ended September
2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product from $31.9
billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports and
moderation in gold imports. Manufacturing activity and new orders in India
showed their strongest growth in a year in February. The news comes as a relief
after data showed Asia’s third largest economy grew by a slower-than-expected
4.7 % annually in the three months through December. The HSBC Manufacturing
Purchasing Managers’ Index which gauges the business activity of India’s
factories but not its’ utilities, rose to 52.5 in February, its highest in a
year from 51.4 in January. Overall new orders for factory goods which rose to a
one-year high of 54.9 contributed to the surge. China has emerged as India’s
biggest trading partner in the current financial year replacing the United Arab
Emirates and pushing it to the third spot. India-China trade has reached $49.5
billion with a 8.7 % share in India’s total trade. The US comes second at $46
billion with 8.1 % share during the first nine months of the current financial
year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
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 DECLINED
MANAGEMENT NON – COOPERATIVE (91-44-22628002)
LOCATIONS
|
Registered Office/ Factory : |
Plot No. D – 3, |
|
Tel. No.: |
91-44-22628002/ 22628593/23474103 |
|
Fax No.: |
91-44-22628344/23475190 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch 1 : |
|
|
Tel. No.: |
61-(0)7-3715 6899 |
|
Fax No.: |
61-(0)7-3715 6877 |
|
E-Mail : |
|
|
|
|
|
Branch 2 : |
|
|
Tel. No.: |
44-(0)-1536 418341 |
|
Fax No.: |
44-(0)-1536 711387 |
|
E-Mail : |
|
|
|
|
|
Branch 3 : |
North America ,South America, Central America and |
|
Tele Fax No.: |
1-905-338 6776 |
|
E-Mail : |
DIRECTORS
As on : 12.07.2013
|
Name : |
Mr. Percy Eruch Fouzdar |
|
Designation : |
Director |
|
Address : |
B-13, Godrej Baug, Off |
|
Date of Birth/Age : |
17.06.1956 |
|
Date of Appointment : |
25.11.1994 |
|
DIN No.: |
00066123 |
|
|
|
|
Name : |
Mr. Phiroze Dinshaw Lam |
|
Designation : |
Director |
|
Address : |
21/23, |
|
Date of Birth/Age : |
06.03.1945 |
|
Date of Appointment : |
01.04.1997 |
|
DIN No.: |
00066218 |
|
|
|
|
Name : |
Mr. Ramohalli Kapanipathi Shankar |
|
Designation : |
Managing Director |
|
Address : |
New No. 16, Old No. 11, First Cross Street, Indira Nagar, Chennai
600020, Tamilnadu, India |
|
Date of Birth/Age : |
07.03.1948 |
|
Date of Appointment : |
01.01.2012 |
|
DIN No.: |
00135499 |
|
|
|
|
Name : |
Mr. Kyamas Ardeshir Palia |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
22.11.1945 |
|
Date of Appointment : |
11.11.1992 |
|
DIN No.: |
00281971 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 12.07.2013
|
Names of Shareholders |
No. of Shares |
|
Godrej (Malaysia) Sdn Bhd |
1250000 |
|
Godrej (S). PTE. Limited |
928750 |
|
Godrej and Boyce Manufacturing Company Limited |
1571246 |
|
Palia Ardeshir Kyamas |
1 |
|
Percy Erach Fouzdar |
1 |
|
Ramohalli Kapanipathi Shankar |
1 |
|
Phiroze Dinshaw Lam |
1 |
|
Total |
3750000 |
Equity
Shae Break up (Percentage of Total Equity)
As on : 30.05.2012
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
58.10 |
|
Bodies corporate |
41.90 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and export of steel furniture. |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management
|
|||||||||
|
|
|
|||||||||
|
Bankers : |
·
Indian Bank, MEPZ – SEZ, Tambaram, Chennai – 600
045, ·
Punjab National Bank, Maker Tower E Ground Floor,
Cuffe Parade, Mumbai – 400005, Maharashtra, India |
|||||||||
|
|
|
|||||||||
|
Facilities : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Kalyaniwalla and Mistry Chartered Accountants |
|
Address : |
No.102, 2nd Floor, |
|
PAN No.: |
AAAFK7554R |
|
|
|
|
Enterprises having control over reporting enterprises : |
· Godrej and Boyce
Manufacturing Company Limited, |
|
|
|
|
Enterprises under common control: |
· Godrej Infotech
Limited, · Godrej (Malaysia)
Sdn Bhd · Godrej
(Singapore) Pte Limited · Godrej and
Khimji (Middle East) LLC |
CAPITAL STRUCTURE
As on : 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
14000000 |
Equity Shares |
Rs. 10/-each |
Rs. 140.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3750000 |
Equity Shares |
Rs. 10/-each |
Rs. 37.500 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
|
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
37.500 |
|
(b) Reserves & Surplus |
|
|
101.162 |
|
(c) Money received against share
warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
138.662 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.000 |
|
(b) Deferred tax liabilities
(Net) |
|
|
4.906 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
0.606 |
|
Total
Non-current Liabilities (3) |
|
|
5.512 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
0.000 |
|
(b) Trade payables |
|
|
14.559 |
|
(c) Other current liabilities |
|
|
44.226 |
|
(d) Short-term provisions |
|
|
0.000 |
|
Total
Current Liabilities (4) |
|
|
58.785 |
|
|
|
|
|
|
TOTAL |
|
|
202.959 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
48.089 |
|
(ii) Intangible Assets |
|
|
0.000 |
|
(iii) Capital work-in-progress |
|
|
0.196 |
|
(iv) Intangible assets under
development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
8.051 |
|
(e) Other Non-current assets |
|
|
0.000 |
|
Total
Non-Current Assets |
|
|
56.336 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
44.764 |
|
(c) Trade receivables |
|
|
71.263 |
|
(d) Cash and cash equivalents |
|
|
22.624 |
|
(e) Short-term loans and
advances |
|
|
7.972 |
|
(f) Other current assets |
|
|
0.000 |
|
Total
Current Assets |
|
|
146.623 |
|
|
|
|
|
|
TOTAL |
|
|
202.959 |
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
37.500 |
37.500 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
98.168 |
97.599 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
135.668 |
135.099 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
10.925 |
15.672 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
10.925 |
15.672 |
|
|
DEFERRED TAX LIABILITIES |
|
5.240 |
5.656 |
|
|
|
|
|
|
|
|
TOTAL |
|
151.833 |
156.427 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
46.223 |
50.180 |
|
|
Capital work-in-progress |
|
0.134 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
7.537 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
48.887
|
55.855 |
|
|
Sundry Debtors |
|
50.923
|
43.765 |
|
|
Cash & Bank Balances |
|
13.048
|
17.807 |
|
|
Other Current Assets |
|
0.000
|
0.000 |
|
|
Loans & Advances |
|
19.071
|
10.372 |
|
Total
Current Assets |
|
131.929
|
127.799 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
14.038
|
18.104 |
|
|
Other Current Liabilities |
|
11.978
|
8.268 |
|
|
Provisions |
|
0.437
|
2.717 |
|
Total
Current Liabilities |
|
26.453
|
29.089 |
|
|
Net Current Assets |
|
105.476
|
98.710 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
151.833 |
156.427 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
281.759 |
258.984 |
239.638 |
|
|
|
Other Income |
0.673 |
1.494 |
5.456 |
|
|
|
TOTAL |
282.432 |
260.478 |
245.094 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
161.336 |
146.339 |
142.744 |
|
|
|
Changes in inventories of finished goods |
1.189 |
2.246 |
82.973 |
|
|
|
Employee benefits expenses |
34.132 |
26.256 |
0.000 |
|
|
|
Operating expenses |
73.613 |
67.607 |
(2.511) |
|
|
|
TOTAL |
270.270 |
242.448 |
223.206 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
12.162 |
18.030 |
21.888 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1.894 |
2.740 |
1.727 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) |
10.268 |
15.290 |
20.161 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
5.716 |
6.838 |
6.866 |
|
|
|
|
|
|
|
|
|
Less |
EXCEPTIONAL
ITEMS |
0.000 |
7.737 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
4.552 |
0.715 |
13.295 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.145 |
4.257 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.993 |
0.569 |
9.038 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
59.668 |
59.099 |
53.240 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Final Dividend |
0.000 |
0.000 |
1.875 |
|
|
|
Corporate Dividend Tax |
0.000 |
0.000 |
0.304 |
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
1.000 |
|
|
BALANCE CARRIED
TO THE B/S |
62.661 |
59.668 |
59.099 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
0.000 |
221.548 |
|
|
|
Ocean freight and insurance |
NA |
0.000 |
5.870 |
|
|
|
Pre and post shipment services |
NA |
0.000 |
0.554 |
|
|
TOTAL EARNINGS |
NA |
0.000 |
227.972 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
100.375 |
70.038 |
|
|
|
Stores & Spares |
NA |
0.475 |
3.039 |
|
|
|
Capital Goods |
NA |
0.000 |
0.374 |
|
|
TOTAL IMPORTS |
NA |
100.850 |
73.451 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
0.80 |
0.15 |
2.41 |
|
|
|
Diluted |
0.80 |
0.15 |
2.41 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.06
|
0.22
|
3.77 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.62
|
0.27
|
5.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.24
|
0.40
|
7.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.01
|
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.08
|
0.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.49
|
4.99
|
4.39 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
239.638 |
258.984 |
281.759 |
|
|
|
8.073 |
8.794 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
239.638 |
258.984 |
281.759 |
|
Profit |
9.038 |
0.569 |
2.993 |
|
|
3.77% |
0.22% |
1.06% |
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 |
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 |
CORPORATE INFORMATION
Subject was incorporated on November 11, 1992
as a private limited company under the companies Act, 1956. The company was
converted into a public limited company on February 27, 1995. The company is
engaged in the subject of manufacturer and export of steel furniture. The
company enjoyed the status of export processing zone till 2001-02. In the year
2001-02 status if the company changed to special economic zone.
FIXED ASSETS:
- Buildings
- Plant and Machinery
- Computers
- Office Equipment
- Furniture and Fixtures
- Vehicles
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.59.65 |
|
|
1 |
Rs.99.21 |
|
Euro |
1 |
Rs.82.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.