MIRA
INFORM REPORT
|
Report Date : |
11.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
JAGANNATH TEXTILE COMPANY LIMITED |
|
|
|
|
Formerly Known
As : |
JAGANNATH TEXTILE COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
23, 23-1, East Periaswamy Road, R S Puram, Coimbatore – 641002, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
11.05.1987 |
|
|
|
|
Com. Reg. No.: |
18-001965 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.329.150 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17111TZ1987PLC001965 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CMBJ03187C CMBJ03038A CMBJ03006D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACJ5552D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Superior Quality Yarn, Fabric, Appeal and Home
Textiles. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2166000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating reflects moderate financial risk profile marked by losses
that company has incurred form its operation and below average financial
performance. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing 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 |
|
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
B- (Long Term Rating) |
|
Rating Explanation |
Risk-prone credit quality and high risk of default. |
|
Date |
December 18, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A4 (Short Term Rating) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
December 18, 2013 |
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 Co-Operative (91-422-4304000)
LOCATIONS
|
Registered Office : |
23, 23-1, East Periaswamy Road, R S Puram, Coimbatore –
641002, Tamilnadu, India |
|
Tel. No.: |
91-422-4304000 / 2540074 |
|
Fax No.: |
91-422-4304049 / 2545342 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
4/145, |
|
Tel. No.: |
91-422-4304045-48 |
DIRECTORS
As on: 07.09.2013
|
Name : |
Mr. Ramesh Kumar Tibrewal |
|
Designation : |
Managing Director |
|
Address : |
Cowly Brown Road, R. S. Puram,
Coimbatore – 641002, Tamilnadu,
India |
|
Date of Birth/Age : |
03.08.1959 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
11.05.1987 |
|
PAN No.: |
ABNPT6287A |
|
DIN No.: |
00203487 |
|
|
|
|
Name : |
Mr. Kangeyam Nagesh Sreedharan |
|
Designation : |
Director |
|
Address : |
D No. 19AD, Sridevi Residency, Thudiyalur, Coimbatore, Tamilnadu, India |
|
Date of Birth/Age : |
08.03.1939 |
|
Qualification : |
Chartered Accountant |
|
Date of Appointment : |
22.08.2005 |
|
DIN No.: |
00321585 |
|
|
|
|
Name : |
Sama Naidu Palaniswamy |
|
Designation : |
Director |
|
Address : |
3/3, |
|
Date of Birth/Age : |
16.01.1947 |
|
Date of Appointment : |
22.08.2005 |
|
DIN No.: |
00296811 |
|
|
|
|
Name : |
Gouri Shankar Tibrewal |
|
Designation : |
Whole-Time Director |
|
Address : |
41, Dobson Road, Howrah – 711101, West
Bengal, India |
|
Date of Birth/Age : |
01.01.1947 |
|
Qualification : |
B.Com, LLB |
|
Date of Appointment : |
22.08.2005 |
|
PAN No.: |
ABSPT1522D |
|
DIN No.: |
00321527 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 07.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Deepak Kumar Tibrewal |
|
11767 |
|
Usha Tibrewal |
|
5558494 |
|
Gauri Shankar Tibrewal |
|
10187 |
|
Hemalatha Tibrewal |
|
100 |
|
Binod Kumar Tibrewal |
|
6347 |
|
Ramesh Kumar Tiberwal |
|
8831747 |
|
Abhishek Tibrewal |
|
1000000 |
|
Anubhav Tibrewal |
|
1000000 |
|
Ramesh Kumar Tiberwal
(HUF) |
|
252000 |
|
Anurag Tibrewal |
|
1000000 |
|
Kiran Tibrewal |
|
7222 |
|
K Ganga Rathna |
|
6667 |
|
K Narendran |
|
6111 |
|
V Jayanthi |
|
6111 |
|
V Jayanthi Priya |
|
100000 |
|
Kiran Devi Tibrewal |
|
85444 |
|
Maina Devi Tibrewal |
|
1556 |
|
Raj Kumar Tibrewal |
|
6247 |
|
K N Sreedharan |
|
25000 |
|
|
|
|
|
Total |
|
17915000 |
Equity Share Break up (Percentage of Total Equity)
As on: 07.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Superior Quality Yarn, Fabric, Appeal and Home
Textiles. |
||||||||
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|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||
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|
|||||||||||||||||||||
|
Bankers : |
· State Bank of India (Lead Bank) and Other 4 Banks, Commercial Branch, 1443, Trichy Road, Coimbatore - 641018, Tamilnadu, India · State Bank of Patiala, 654-656, R S Puram, Mettupalayam Road, Coimbatore - 641002, Tamilnadu, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
(Rs. In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors 1 : |
|
|
Name : |
Srikishen and Company Chartered Accountants |
|
Address : |
Kanapathy Towers, III, Floor 1391/A-1, Sathy Road, Ganapathy Po, Coimbatore - 641006, Tamilnadu, India |
|
PAN No.: |
AEWPM3706M |
|
|
|
|
Auditors 2 : |
|
|
Name : |
Thakker and Sanghani Chartered Accountants |
|
Address : |
No 47 West Periasamy, Road R S Puram, Coimbatore - 641002, Tamilnadu India |
|
PAN No.: |
AACFT5465E |
CAPITAL STRUCTURE
As on: 07.09.2013
Authorised Capital : Rs.400.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.379.150 Millions
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
|
15000000 |
Preference Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.350.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17915000 |
Equity Shares |
Rs.10/- each |
Rs.179.150 Millions |
|
15000000 |
Preference Shares |
Rs.10/- each |
Rs.150.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.329.150 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 |
329.150 |
297.150 |
297.150 |
|
(b) Reserves & Surplus |
212.486 |
254.982 |
374.099 |
|
(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) |
541.636 |
552.132 |
671.249 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
925.874 |
1183.525 |
1409.084 |
|
(b) Deferred tax liabilities
(Net) |
24.732 |
46.083 |
0.000 |
|
(c) Other long term
liabilities |
72.251 |
41.938 |
79.237 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
1022.857 |
1271.546 |
1488.321 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
531.665 |
508.080 |
470.537 |
|
(b) Trade payables |
209.543 |
119.903 |
117.986 |
|
(c) Other current liabilities |
394.918 |
341.144 |
202.190 |
|
(d) Short-term provisions |
0.098 |
0.115 |
65.808 |
|
Total
Current Liabilities (4) |
1136.224 |
969.242 |
856.521 |
|
|
|
|
|
|
TOTAL |
2700.717 |
2792.920 |
3016.091 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1748.725 |
1845.351 |
1786.135 |
|
(ii) Intangible Assets |
141.393 |
123.385 |
80.590 |
|
(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 |
4.500 |
4.500 |
4.500 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
2.507 |
|
(d) Long-term Loan and Advances |
12.308 |
91.315 |
91.024 |
|
(e) Other Non-current assets |
32.108 |
31.164 |
59.882 |
|
Total
Non-Current Assets |
1939.034 |
2095.715 |
2024.638 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
2.302 |
2.302 |
21.540 |
|
(b) Inventories |
451.854 |
333.878 |
454.753 |
|
(c) Trade receivables |
165.569 |
236.609 |
391.319 |
|
(d) Cash and cash equivalents |
9.542 |
61.501 |
8.750 |
|
(e) Short-term loans and
advances |
132.416 |
62.915 |
37.410 |
|
(f) Other current assets |
0.000 |
0.000 |
77.681 |
|
Total
Current Assets |
761.683 |
697.205 |
991.453 |
|
|
|
|
|
|
TOTAL |
2700.717 |
2792.920 |
3016.091 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
2783.994 |
2193.772 |
2825.108 |
|
|
Other Income |
24.278 |
10.974 |
14.835 |
|
|
TOTAL
(A) |
2808.272 |
2204.746 |
2839.943 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1844.486 |
1499.656 |
1790.936 |
|
|
Purchases of Stock-in-Trade |
0.000 |
39.263 |
25.866 |
|
|
Changes in inventories of
finished goods work-in-progress and Stock-in-Trade |
(82.220) |
43.730 |
(181.757) |
|
|
Employees benefits expense |
128.110 |
97.662 |
83.122 |
|
|
Other expenses |
617.886 |
435.912 |
561.994 |
|
|
Extraordinary items |
0.000 |
(147.312) |
0.000 |
|
|
TOTAL
(B) |
2508.262 |
1968.911 |
2280.161 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST TAX
DEPRECIATION AND AMORTISATION
(C) |
300.010 |
235.835 |
559.782 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
247.191 |
211.247 |
169.846 |
|
|
|
|
. |
|
|
|
PROFIT
/ (LOSS) BEFORE TAX DEPRECIATION AND AMORTISATION (C-D) (E) |
52.819 |
24.588 |
389.936 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
116.666 |
90.983 |
233.078 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(63.847) |
(66.395) |
156.858 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
(21.351 |
48.590 |
(22.582 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(42.496) |
(114.985) |
179.440 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(3.01) |
(18.44) |
10.060 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(1.51) |
(5.22) |
6.32 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(2.29) |
(3.03) |
5.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.37) |
(2.38) |
5.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.11) |
(0.12) |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth)
|
|
2.69 |
3.06 |
2.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.67 |
0.72 |
1.16 |
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 |
297.150 |
297.150 |
329.150 |
|
Reserves & Surplus |
374.099 |
254.982 |
212.486 |
|
Net
worth |
671.249 |
552.132 |
541.636 |
|
|
|
|
|
|
long-term borrowings |
1,409.084 |
1,183.525 |
925.874 |
|
Short term borrowings |
470.537 |
508.080 |
531.665 |
|
Total
borrowings |
1,879.621 |
1,691.605 |
1,457.539 |
|
Debt/Equity
ratio |
2.800 |
3.064 |
2.691 |
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 |
2825.108 |
2193.772 |
2783.994 |
|
|
|
(22.347) |
26.904 |
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 |
2825.108 |
2193.772 |
2783.994 |
|
Profit |
179.440 |
(114.985) |
(42.496) |
|
|
6.35% |
(5.24%) |
(1.53%) |
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 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director if available |
No |
|
34] |
External Agency Rating if available |
Yes |
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG-TERM
BORROWINGS |
|
|
|
Loans and advances from directors |
0.000 |
32.000 |
|
Long-term maturities of finance lease obligations |
0.000 |
1.141 |
|
|
|
|
|
Total |
0.000 |
33.141 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10030471 |
22/06/2009 * |
32,000,000.00 |
STATE BANK OF HYDERABAD |
UNITED INDIA BUILDING, 1028, AVANASHI ROAD, COIMBATORE, TAMILNADU - 641018, INDIA |
A67696989 |
|
2 |
10022748 |
29/09/2006 |
100,000,000.00 |
STATE BANK OF INDORE |
U R HOUSE, GROUND FLOOR, 1056-C AVINASHI ROAD, COIMBATORE, TAMILNADU - 641018, INDIA |
A05852470 |
|
3 |
10008116 |
20/06/2006 |
50,000,000.00 |
STATE BANK OF HYDERABAD |
UNITED INDIA BUILDING, 1028 AVANASHI ROAD, COIMBATORE, TAMIL NADU - 641018, INDIA |
A02197036 |
|
4 |
10003657 |
22/06/2009 * |
200,000,000.00 |
STATE BANK OF HYDERABAD |
UNITED INDIA BUILDING, 1028, AVANASHI ROAD, COIMBATORE, TAMILNADU - 641018, INDIA |
A67696393 |
|
5 |
10001712 |
15/03/2006 |
280,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, 1443 TRICHY ROAD, COIMBATORE, |
A00663542 |
|
6 |
10001711 |
29/06/2009 * |
150,000,000.00 |
CORPORATION BANK |
OPPANAKKARA STREET, COIMBATORE, TAMILNADU - 641001, INDIA |
A67663351 |
|
7 |
80046901 |
29/06/2009 * |
30,000,000.00 |
STATE BANK OF PATIALA |
654-656, R S PURAM, METTUPALAYAM ROAD, COIMBATORE, TAMILNADU - 641002, INDIA |
A68068808 |
|
8 |
90009300 |
30/03/2013 * |
2,776,350,000.00 |
STATE BANK OF INDIA (LEAD BANK) AND OTHER 4 BANKS |
COMMERCIAL BRANCH, 1443, TRICHY ROAD, COIMBATORE, |
B73761744 |
|
9 |
90009284 |
29/06/2009 * |
190,000,000.00 |
THE SOUTH INDIAN BANK LIMITED |
R.S.PURAM BRANCH, 79/A, SRI SHANMUGAM ROAD, R.S. |
A68059377 |
|
10 |
90009244 |
31/07/2009 * |
72,300,000.00 |
STATE BANK OF PATIALA |
654-656, R S PURAM, METTUPALAYAM ROAD, COIMBATORE, TAMILNADU - 641002, INDIA |
A70038476 |
* Date of charge modification
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Factory Equipments
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Livestock
·
Intangible Assets
· Copyrights
· Patents
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.60.21 |
|
|
1 |
Rs.100.05 |
|
Euro |
1 |
Rs.83.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
|
26 |
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.