MIRA
INFORM REPORT
|
Report Date : |
08.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
NAMDHARI INDUSTRIAL TRADERS PRIVATE LIMITED |
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Registered
Office : |
515/5, Industrial Area – Boverlock Road, Ludhiana – 141003, Punjab |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
25.08.2005 |
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Com. Reg. No.: |
16-028870 |
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Capital
Investment / Paid-up Capital : |
Rs.24.963 Millions |
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CIN No.: [Company Identification
No.] |
U28112PB2005PTC028870 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
JLD01401B |
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PAN No.: [Permanent Account No.] |
AACCN2429B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Pre-engineered and galvanized structure, steel
fabricators and contractors. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 170000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The company possesses a moderate financial profile marked by modest
networth base. Management has reported a better growth in its sales volume as well as
net profitability during 2013. Furthermore, the company has paid of its majority of debt burden which
may slightly ease the liquidity position. The rating also take into consideration the low cash balance along
with the limited value adding nature of the business operations which has its
effect on the profitability and can be attributed to the low position of
reserves. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. The company can be considered for business dealings with some caution.
|
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 |
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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 (91-161-2531398)
LOCATIONS
|
Registered Office : |
515/5, Industrial Area – Boverlock Road, Ludhiana – 141003, Punjab,
India |
|
Tel. No.: |
91-161-2531398 |
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Fax No.: |
91-161-2535171 |
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E-Mail : |
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Website : |
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Factory: |
Village Latton Dana Chandigarh Road, Ludhiana, Punjab, India |
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Tel. No.: |
91-161-2834622 |
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Fax No.: |
91-161-2833157 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Gurdeep Singh |
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Designation : |
Director |
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Address : |
32-F, Saxabha Nagar,Ludhiana -141001, Punjab, India |
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Date of Birth/Age : |
26.06.1969 |
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Date of Appointment : |
25.08.2005 |
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DIN No.: |
01148359 |
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Other Directorship:
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Name : |
Mr. Gurbachan Singh |
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Designation : |
Director |
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Address : |
32-F, Saxabha Nagar,Ludhiana -141001, Punjab, India |
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Date of Birth/Age : |
24.10.1965 |
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Date of Appointment : |
25.08.2005 |
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DIN No.: |
01331873 |
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Other Directorship:
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Name : |
Mrs. Bhupinder Kaur |
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Designation : |
Director |
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Address : |
32-F, Saxabha Nagar,Ludhiana -141001, Punjab, India |
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Date of Birth/Age : |
07.12.1939 |
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Date of Appointment : |
25.08.2005 |
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DIN No.: |
01148423 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Gurdeep Singh S/o Darshan Sinsh |
|
85200 |
|
Gurbachal Singh S/o Darshan Sinsh |
|
109700 |
|
Bhupinder Kaur w/o Darshan Sinsh |
|
200750 |
|
Charu Finvest Consultants Limited, India |
|
100000 |
|
Exalt Fincap Limited, India |
|
100000 |
|
S.G. Global Exports Limited, India |
|
50000 |
|
Lancer Enterprises (Private) Limited, India |
|
150000 |
|
Gurbachan Singh (HUF) |
|
86000 |
|
Gurdeep Singh (HUF) |
|
85450 |
|
Ninrata Kalra Wo Gurbachan Singh |
|
85050 |
|
AmarjyotiKalra w/o Gurdeep Singh |
|
120500 |
|
RuchikaKalra D/o Gurbachan Singh |
|
35250 |
|
Chander Nlohan S/o Raghbir Singh |
|
2000 |
|
Bengal Credit Corporation (Private) l Limited, India |
|
25000 |
|
Rajesh Imports Private Limited, India |
|
25000 |
|
Rose Securities Limited |
|
25000 |
|
Kedia Banijya Private Limited, India |
|
25000 |
|
MVS Leasing Private Limited, India |
|
25000 |
|
Ramrup Credit and Leasing Private Limited, India |
|
25000 |
|
Sapphire Info Solutions Private Limited, India |
|
75000 |
|
Delta IT Solutions Private Limited, India |
|
25000 |
|
Dr.Harsharan Singh Malhotra |
|
32500 |
|
Kunwar Gangs Singh |
|
50000 |
|
Daisy Suppliers Private Limited, India |
|
150000 |
|
Zinnia Sales Private Limited, India |
|
150000 |
|
Simplex Trading and Agencies Limited, India |
|
150000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Bodies corporate |
45.45 |
|
Directors or relatives of Directors |
54.55 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Pre-engineered and galvanized structure, steel fabricators
and contractors. |
GENERAL INFORMATION
|
Suppliers: |
·
Amar Computer Solutions ·
Group 7 Guarding Private Limited ·
Orissa Bengal Carrier Limited ·
Shree Roadlines |
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|
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Customers: |
·
ABB Group ·
C L Engineering Limited ·
GET Power Private Limited ·
Globe Enterprises ·
JVR Forgings Limited ·
Nexo Industrial Limited ·
R S Engineers ·
Munish Forge Private Limited |
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No. of Employees : |
Information declined by the management |
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Bankers : |
·
City Union Bank Limited, Ludhiana Branch, Gill
road, Ludhiana – 141003, Punjab, India ·
Punjab National Bank, BRS Nagar, Ludhiana –
141001, Punjab, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Jasminder Singh and Associates Chartered Accountants |
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Address : |
3-D, Surya Kiran Complex, The Mall, Ludhiana – 141001, Punjab, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAEFJ8758J |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs. 25.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2496310 |
Equity Shares |
Rs.10/- each |
Rs. 24.963
Millions |
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|
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|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
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|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
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(a) Share Capital |
24.963 |
14.924 |
14.924 |
|
(b) Reserves & Surplus |
16.640 |
13.116 |
10.939 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
6.512 |
0.499 |
|
Total
Shareholders’ Funds (1) + (2) |
41.603 |
34.552 |
26.362 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3.582 |
5.271 |
3.110 |
|
(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) |
3.582 |
5.271 |
3.110 |
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
27.497 |
97.223 |
103.125 |
|
(b) Trade payables |
81.854 |
46.494 |
30.930 |
|
(c) Other current liabilities |
39.786 |
20.552 |
7.215 |
|
(d) Short-term provisions |
1.614 |
0.973 |
0.734 |
|
Total
Current Liabilities (4) |
150.751 |
165.242 |
142.004 |
|
|
|
|
|
|
TOTAL |
195.936 |
205.065 |
171.476 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
6.994 |
5.320 |
4.469 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(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 |
12.956 |
3.593 |
3.018 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
1.795 |
|
(e) Other Non-current assets |
0.000 |
0.046 |
0.062 |
|
Total
Non-Current Assets |
19.950 |
8.959 |
9.344 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
47.907 |
92.222 |
90.816 |
|
(c) Trade receivables |
82.196 |
76.922 |
59.002 |
|
(d) Cash and cash equivalents |
0.182 |
4.705 |
0.406 |
|
(e) Short-term loans and
advances |
8.520 |
4.376 |
0.245 |
|
(f) Other current assets |
37.181 |
17.881 |
11.663 |
|
Total
Current Assets |
175.986 |
196.106 |
162.132 |
|
|
|
|
|
|
TOTAL |
195.936 |
205.065 |
171.476 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Receipts |
725.131 |
421.859 |
298.435 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
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|
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|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
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|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
6.599 |
4.121 |
2.946 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.380 |
0.971 |
0.728 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
5.219 |
3.150 |
2.218 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.614 |
0.973 |
0.735 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
3.605 |
2.177 |
1.483 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
7.987 |
5.810 |
4.327 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
11.512 |
7.987 |
5.810 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.44 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.85
|
1.56 |
1.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.09 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.75
|
2.97 |
4.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17
|
1.19 |
1.14 |
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 |
50.800 |
50.800 |
50.800 |
|
Reserves & Surplus |
2,186.800 |
2,414.300 |
2,506.300 |
|
Share Application money
pending allotment |
0.499 |
6.512 |
0.000 |
|
Net
worth |
2,238.099 |
2,471.612 |
2,557.100 |
|
|
|
|
|
|
long-term borrowings |
3.110 |
5.271 |
3.582 |
|
Short term borrowings |
103.125 |
97.223 |
27.497 |
|
Total
borrowings |
106.235 |
102.494 |
31.079 |
|
Debt/Equity
ratio |
0.047 |
0.041 |
0.012 |
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) |
|
Gross Receipts |
298.435 |
421.859 |
725.131 |
|
|
|
41.357 |
71.889 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Gross Receipts |
298.435 |
421.859 |
725.131 |
|
Profit |
1.483 |
2.177 |
3.605 |
|
|
0.50% |
0.52% |
0.50% |
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 |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
OPERATION
The performance of the company for the year has been satisfactory since
its operations. Company’s is hopeful with the future prospect in the coming
years.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Other Loans and
advance |
|
|
|
Gurbachan Sngh HUF |
0.100 |
0.000 |
|
Amarjyoti Kalra |
0.326 |
0.869 |
|
Bhupinder Kalra |
0.661 |
0.608 |
|
Gurbachan Singh |
0.296 |
0.830 |
|
Gurdeep Singh |
0.360 |
0.720 |
|
Gurdeep Singh (HUF) |
0.697 |
0.601 |
|
Kunwar Ganga Singh |
0.004 |
0.500 |
|
Nimarata Kalra |
0.909 |
0.614 |
|
Ruchita Kalra |
0.230 |
0.230 |
|
Short-term
borrowings |
|
|
|
Cheque issued but nor presented |
0.000 |
32.089 |
|
Total |
3.583 |
37.061 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10444291 |
19/02/2014 * |
90,000,000.00 |
CITY UNION BANK LIMITED |
LUDHIANA BRANCH,
GILL ROAD, LUDHIANA, PUNJAB - 141003, INDIA |
C00265637 |
|
2 |
10444298 |
17/07/2013 |
40,000,000.00 |
CITY UNION BANK LIMITED |
CITY UNION BANK LTD.,
LUDHIANA BRANCH, GILL ROAD, |
B82709080 |
|
3 |
10422674 |
18/03/2013 |
635,000.00 |
CITY UNION BANK LIMITED |
LUDHIANA BRANCH,
GILL ROAD, LUDHIANA, PUNJAB - 14 |
B74014309 |
|
4 |
10392423 |
26/11/2012 |
15,000,000.00 |
CITY UNION BANK LIMITED |
LUDHIANA BRANCH,
MLLER GANJ, LUDHIANA, PUNJAB - 1 |
B64308968 |
|
5 |
10352691 |
04/09/2012 * |
80,000,000.00 |
CITY UNION BANK LIMITED |
CITY UNION BANK LTD.,
LUDHIANA BRANCH, GILL ROAD, |
B58542002 |
|
6 |
10352693 |
05/04/2012 |
10,000,000.00 |
CITY UNION BANK |
LUDHIANA BRANCH,
MILLERGANJ, LUDHIANA, PUNJAB - 1 |
B38590147 |
|
7 |
10352697 |
05/04/2012 |
31,000,000.00 |
CITY UNION BANK |
LUDHIANA BRANCH,
MILLERGANJ, LUDHIANA, PUNJAB - 1 |
B38590782 |
|
8 |
10233942 |
16/07/2010 |
75,000,000.00 |
CITY UNION BANK LIMITED |
LUDHIANA BRANCH,
GILL ROAD, LUDHIANA, PUNJAB - 14 |
A91841866 |
|
9 |
10214103 |
07/05/2011 * |
25,000,000.00 |
CITY UNION BANK LIMITED |
LUDHIANA BRANCH,
GILL ROAD, LUDHIANA, PUNJAB - 14 |
B13041850 |
|
10 |
10218620 |
09/05/2011 * |
65,000,000.00 |
CITY UNION BANK LIMITED |
LUDHIANA BRANCH,
GILL ROAD, LUDHIANA, PUNJAB - 14 |
B13634290 |
* Date of charge modification
FIXED ASSETS
·
Building
·
Camera
·
Computer
·
Crane Loader
·
Generator
·
Mobile
·
Plant and Machinery
·
Telephone Set
·
Printer
·
Furniture
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 records 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.59.95 |
|
|
1 |
Rs.99.36 |
|
Euro |
1 |
Rs.82.15 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.