MIRA INFORM REPORT
|
Report Date : |
05.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
RASOI MAGIC FOODS (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.4, 17th Cross, K R Road, BSK 2nd Stage, Bangalore
– 560070, Karnataka |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
07.09.2007 |
|
|
|
|
Com. Reg. No.: |
08-062356 (New) 11-130671 (Old) |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.0.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15400KA2007PTC062356 (New) U15400PN2007PTC130671 (Old) |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNER0938D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject
is engaged in the manufacture and sale of ready-to-cook food products. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
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
moderate track record. There are accumulated losses recorded by
the company which has eroded net worth of the company. Business is active. Payment terms are
slow. The company can be considered for business
dealing on a safe and secured 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
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 DENIED BY
|
Name : |
Mr. Jayant |
|
Designation : |
Not disclosed |
|
Contact No.: |
91-80-40812100 |
|
Date : |
03.04.2014 |
LOCATIONS
|
Registered Office : |
No.4, 17th Cross, K R Road, BSK 2nd Stage,
Bangalore – 560070, Karnataka, India |
|
Tel. No.: |
91-80-40812100-07 |
|
Fax No.: |
91-80-26760227 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory: |
S No.32/A6, Property No786/787, Shed No.1 and 2, Pisoli, Pune –
411060, Maharashtra, India |
|
Tel No.: |
91-20-26931400/ 64781406 |
|
|
|
|
Branch Office : |
1102, A/6, Bhamburda, Lakaki Road, Amelia, Flat No.202, 2nd
Floor, Model Colony, Opposite Pratibha Nursing Home, Shivajinagar, Pune –
411016, Maharashtra, India |
|
Tel No.: |
91-20-24261935/ 36/ 24261937 |
|
Email : |
DIRECTORS
(AS ON 27.09.2013)
|
Name : |
Mr. Sanjay Madan Sharma |
|
Designation : |
Director |
|
Address : |
Flat no.1, Indraprastha Enero No.9, Kingston Road, Richmond Town,
Bangalore – 560025, Karnataka, India |
|
Date of Birth/Age : |
28.12.1966 |
|
Date of Appointment : |
28.03.2011 |
|
DIN No.: |
02581107 |
|
|
|
|
Name : |
Mr. Ganesh Shenoy Basavanagudi |
|
Designation : |
Director |
|
Address : |
Flat No.501, Scarlet, Begonias No.73, Outer Ring Road, J P Nagar, 3rd
Phase, NR Mandovi Motors, Bangalore -
560078, Karnataka, India |
|
Date of Birth/Age : |
01.12.1962 |
|
Date of Appointment : |
29.03.2011 |
|
DIN NO.: |
03489136 |
|
|
|
|
Name : |
Mr. Are Nakkim |
|
Designation : |
Director |
|
Address : |
Bergers Borgveien 10, 1519 Moss 000000, Norway |
|
Date of Birth/Age : |
13.02.1964 |
|
Date of Appointment : |
04.04.2011 |
|
DIN No.: |
03103859 |
|
|
|
|
Name : |
Mr. Jyotiroop Barua |
|
Designation : |
Director |
|
Address : |
Flat No.402, St. john Woods apartment, Hazel No.1, Block Koramangala
Tavarakere Main Road Behind Oracle, Bangalore – 560029, Karnataka, India |
|
Date of Birth/Age : |
14.10.1968 |
|
Date of Appointment : |
06.04.2011 |
|
DIN No.: |
03496166 |
|
|
|
|
Name : |
Mr. Ankurkumar Bhaumik |
|
Designation : |
Director |
|
Address : |
C203, Magnifica Block, Brigade, Gardenia RBI Layout, J P Nagar, 7th
Phase, Bangalore – 560029, Karnataka, India |
|
Date of Birth/Age : |
27.12.1968 |
|
Date of Appointment : |
06.04.2011 |
|
DIN No.: |
03496083 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 27.09.2013)
|
Names of Shareholders |
No. of Shares |
|
MTR Foods Private Limited, Bangalore |
49990 |
|
Ganesh Shenoy Basavanagudi |
10 |
|
|
|
|
Total |
50000 |
Equity Shares Break – up
(AS ON 30.09.2013)
|
Category |
|
Percentage |
|
Bodies corporate |
|
100.00 |
|
Total
|
|
100.00 |
%20PRIVATE%20LIMITED%20-%20261540%20_MIRA%2005-Apr-2014_files/image001.gif)
BUSINESS DETAILS
|
Line of Business : |
Subject is
engaged in the manufacture and sale of ready-to-cook food products. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
|
|
|
|
Bankers : |
·
The Vishweshwar Sahakari Bank Limited, 471/472, Gultekadi, Market Yard, Pune-411037, Maharashtra, India ·
ICICI Bank, Gultekri Branch ·
State Bank of India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. R. Batliboi and Associates Chartered Accountants |
|
Address : |
12th and 13th Floor, “UB City”, Canberra Block,
No 24 Vithal Mallya Road, Bengaluru – 560001, Karnataka, India |
|
Tel No.: |
91-80-40275000 |
|
Fax No.: |
91-80-22106000 |
|
PAN No.: |
AABFS3421N |
|
|
|
|
Ultimate Holding
Company: |
Orkla Asia Pacific Pte Limited, Singapore |
|
|
|
|
Holding Company:
|
MTR Foods Private Limited |
CAPITAL STRUCTURE
(AS ON 27.09.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
|
|
|
|
|
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 |
0.500 |
0.500 |
0.500 |
|
(b) Reserves & Surplus |
(80.726) |
(33.847) |
8.872 |
|
(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) |
(80.226) |
(33.347) |
9.372 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
90.000 |
21.900 |
0.004 |
|
(b) Trade
payables |
29.784 |
32.875 |
6.600 |
|
(c) Other
current liabilities |
3.329 |
0.877 |
1.172 |
|
(d) Short-term
provisions |
1.127 |
1.398 |
2.299 |
|
Total Current
Liabilities (4) |
124.240 |
57.050 |
10.075 |
|
|
|
|
|
|
TOTAL |
44.014 |
23.703 |
19.447 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
5.918 |
4.286 |
4.062 |
|
(ii)
Intangible Assets |
13.834 |
0.750 |
1.500 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.038 |
0.038 |
0.038 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
1.278 |
|
(d) Long-term Loan and Advances |
1.825 |
0.447 |
1.268 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
21.615 |
5.521 |
8.146 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
15.612 |
11.590 |
7.578 |
|
(c) Trade
receivables |
0.638 |
2.915 |
2.931 |
|
(d) Cash
and cash equivalents |
5.632 |
2.898 |
0.404 |
|
(e)
Short-term loans and advances |
0.517 |
0.779 |
0.388 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
22.399 |
18.182 |
11.301 |
|
|
|
|
|
|
TOTAL |
44.014 |
23.703 |
19.447 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
143.249 |
121.331 |
98.085 |
|
|
|
Other Income |
NA |
0.098 |
0.453 |
|
|
|
TOTAL (A) |
NA |
121.429 |
98.538 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials and packing material consumed |
|
53.153 |
40.291 |
|
|
|
Employees Remuneration |
|
15.168 |
14.346 |
|
|
|
Increase / (Decrease) in Finished Stock |
|
0.488 |
(0.677) |
|
|
|
Other Expenses |
|
90.119 |
31.369 |
|
|
|
TOTAL (B) |
NA |
158.928 |
85.329 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
(37.499) |
13.209 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
1.251 |
0.110 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(40.335) |
(38.750) |
13.099 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.565 |
2.688 |
4.438 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(46.900) |
(41.438) |
8.661 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
1.280 |
3.068 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(46.900) |
(42.718) |
5.593 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
(938) |
(854) |
112 |
|
%20PRIVATE%20LIMITED%20-%20261540%20_MIRA%2005-Apr-2014_files/image003.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA |
(35.18) |
5.68 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(32.74) |
(34.15) |
8.83 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(106.65) |
(175.10) |
47.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.58 |
1.24 |
0.92 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(1.12) |
(0.66) |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.18 |
0.32 |
1.12 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs. In
Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
0.500 |
0.500 |
0.500 |
|
Reserves & Surplus |
8.872 |
(33.847) |
(80.726) |
|
Net
worth |
9.372 |
(33.347) |
(80.226) |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.004 |
21.900 |
90.000 |
|
Total
borrowings |
0.004 |
21.900 |
90.000 |
|
Debt/Equity
ratio |
0.000 |
(0.657) |
(1.122) |
%20PRIVATE%20LIMITED%20-%20261540%20_MIRA%2005-Apr-2014_files/image002.gif)
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 |
|
|
98.085 |
121.331 |
143.249 |
|
|
|
23.700 |
18.065 |
%20PRIVATE%20LIMITED%20-%20261540%20_MIRA%2005-Apr-2014_files/image004.gif)
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 |
98.085 |
121.331 |
143.249 |
|
Profit |
5.593 |
(42.718) |
(46.900) |
|
|
5.70% |
(35.21%) |
(32.74%) |
%20PRIVATE%20LIMITED%20-%20261540%20_MIRA%2005-Apr-2014_files/image005.gif)
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM BORROWINGS DETAILS ARE NOT AVAILABLE.
|
Sr. No. |
Check List by Info Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
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 |
No |
|
28] |
Incorporation details, if applicable |
No |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
No |
|
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 LOANS
|
Particulars |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
Short Term
Borrowings |
|
|
|
Loans from Bank |
90.000 |
0.000 |
|
Loan from Holding Company |
0.000 |
21.900 |
|
|
|
|
|
Total |
90.000 |
21.900 |
NOTE: The registered office address of the company
has been shifted from 554, Market Yard, Gate No.5, Gultekdi, Pune-411037, Maharashtra, India
to present address w.e.f. 16.01.2012
FINANCIAL
PERFORMANCE
During the year the Company
has recorded a turnover of Rs.143.249 Millions (PY: Rs.121.330 Millions)
registering an 18% growth over the previous year. The company incurred a net
loss of Rs.46.900 Millions (PY: Loss of Rs.41.400 Millions), after providing
for depreciation of Rs.6.565 Millions (PY: Rs.2.687 Millions) and taxation of
Rs. Nil (PY: Rs.1.278 Millions). The loss is consequent to higher Advertising
and Marketing consultancy expenditure during the year to strengthen the brand
equity of Rasoi Magic across different Geographies of the country to expand its
base outside West Zone and also to deepen its presence in West zone markets.
The higher Marketing investments behind the brand will be set-off in future
through increased revenue and Profitability. The Board of Directors is
confident that the Company's performance would be significantly better in the
current financial year through higher sales consequent to geographical
expansion of Rasoi products in other regions as well as exports.
CORPORATE
INFORMATION
Subject
is engaged in the manufacture and sale of ready-to-cook food products.
On
March 28, 2011, 25% of the shares were bought by M/s MTR Foods Private Limited
(MTR Foods), Bangalore. Further, on April 04, 2011 MTR Foods bought the balance
75% of the shares of the Company.
As at March 31, 2013, the
Company's accumulated losses are Rs.80.726
Millions (2012 – Rs.33.847 Millions) while its paid up capital as at March 31,
2013 is Rs.0.500 Million (2012 – Rs.0.500 Million). Management is of the view
that the losses are due to the early stage of operations of the Company and the
Management is confident that the operations of the company would turn
profitable. Further, the Company has received a letter of comfort from MTR
Foods, the holding company that it will provide operational and financial
support the Company in the foreseeable future and that it has no plans to
liquidate the Company or sell or otherwise dispose of all or a significant
portion of its investment in the company. Accordingly, management has prepared the
financial statements of the Company on a going concern basis.
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
FIXED ASSETS:
·
Plant and Machinery
·
Office Equipment
·
Computer
·
Furniture and Fixture
·
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.60.12 |
|
|
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.82.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
11 |
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.