MIRA
INFORM REPORT
|
Report Date : |
11.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Formerly Known
As : |
POONA BESAN MILLS LIMITED |
|
|
|
|
Registered
Office : |
71/A, Hadapsar Industrial Estate,
Pune-411013, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
28.05.1985 |
|
|
|
|
Com. Reg. No.: |
11-36382 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.4.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15313PN1985PTC036382 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEP02880D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP2949M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of flour and importer of pulses. |
|
|
|
|
No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1400000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having satisfactory track. Management has failed to file the latest financials of 2013 with the government
department, whereas the partial figures are made available from the indirect
source i.e. ICRA. As per available of 2012, the company possesses a favourable
financial profile marked by acceptable networth
base, low debt levels and strong liquidity position led by the healthy growth
in revenues over the last fiscal. The ratings also take into consideration the low value addition
involved in the business, which combined with a fragmented and unoraganised market results in thin profit margins. Further, the inherent business risk like susceptibility to agro –
climatic conditions and government regulations may impact the business
profile of the company. However, trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of strong and established position of the company, it should
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.
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 |
ICRA |
|
Rating |
Cash credit: BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
February 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non fund based limit: A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
February 2014 |
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Gautam Surana |
|
Designation : |
Import Department |
|
Contact No.: |
91-20-26872003/4/5 |
|
Date : |
10.04.2014 |
LOCATIONS
|
Registered Office : |
71/A, Hadapsar Industrial Estate,
Pune-411013, |
|
Tel. No.: |
91-20-26872003/ 4/ 5 |
|
Fax No.: |
91-20-26873266 |
|
E-Mail : |
|
|
|
|
|
Factory: |
Shriur, Shikrapur Nagar Road highway, Pune –
411366, Maharashtra, India |
|
Tel No.: |
91-2137-646250 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Sujit Deepchand
Parakh |
|
Designation : |
Whole time director |
|
Address : |
No. 2, Jubilee, Oppsite Gurudwara,
Pune – 411001, Maharashtra,
India |
|
Date of Birth/Age : |
30.10.1966 |
|
Date of Appointment : |
30.06.2005 |
|
DIN No : |
00067011 |
|
|
|
|
Name : |
Mr. Sunil Deepchand Parakh |
|
Designation : |
Director |
|
Address : |
Bunglow No. 1, Salisbury Park, Pune – 411037, Maharashtra,
India |
|
Date of Birth/Age : |
20.02.1964 |
|
Date of Appointment : |
30.04.1988 |
|
DIN No : |
00053265 |
|
|
|
|
Name : |
Mr. Banshilal Bhandari
|
|
Designation : |
Whole time director |
|
Address : |
3761, 8 Navi Peth,
Ahmednagar – 414001, Maharashtra,
India |
|
Date of Birth/Age : |
21.02.1965 |
|
Date of Appointment : |
24.07.2010 |
|
DIN No : |
03145839 |
KEY EXECUTIVES
|
Name : |
Mr. Gautam Surana |
|
Designation : |
Import Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Deepchand K. Parakh |
3910 |
|
Deepchand K. Parakh (HUF) |
3600 |
|
Sudarshanbai D. Parakh |
3700 |
|
Rajashree S. Parakh |
3600 |
|
Sujit D. Parakh |
3900 |
|
Meera S. Parakh |
1710 |
|
Jalamchand K. Parakh |
3910 |
|
Jalamchand K. Parakh (HUF) |
3600 |
|
Vijayabai J. parakh |
3600 |
|
Anushree Swapnil Parakh |
600 |
|
Suraj Sunil Parakh |
3900 |
|
Sunil D. Parakh |
3970 |
|
Total |
40000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
70.73 |
|
Other top fifty shareholders |
29.27 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of flour and importer of pulses. |
|
|
|
|
Imports : |
|
|
Countries : |
·
Canada ·
Australia |
PRODUCTION STATUS (AS ON
31.03.2012)
|
Particulars |
Capacity Hadapsar
Unit |
Shikrapur Unit |
|
Licensed Capacity |
N.A. |
60000 M.T. |
|
Installed Capacity |
45000 M.T. |
45000 M.T. |
|
Particulars |
Actual
Production |
|
Chana Dal |
18025.669 |
|
Chana Besan |
40349.503 |
|
Chuni Fole |
14109.074 |
|
Vatana Dal |
25261.700 |
|
Vatana Flour |
21195.850 |
GENERAL INFORMATION
|
No. of Employees : |
80 (Approximately) |
||||||||||||||||||
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|
||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Bharat H. Shah and Associates Chartered Accountants |
|
Address : |
B/202, Premanand Park, Wanworie, Pune – 411013, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AVSPS4661A |
|
|
|
|
Group Companies: |
·
Poona Dal and Oil India
lImited ·
Poona Roller Floor Mill Limited ·
Poona Floor and Food ·
PDBM International Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000 |
Equity Shares |
Rs.100/- each |
Rs. 4.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000 |
Equity Shares |
Rs.100/- each |
Rs. 4.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
4.000 |
4.000 |
|
(b) Reserves & Surplus |
|
336.742 |
357.582 |
|
(c) Money received against share
warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
340.742 |
361.582 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
65.116 |
75.483 |
|
(b) Deferred tax liabilities
(Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
65.116 |
75.483 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
159.855 |
|
(b) Trade payables |
|
428.733 |
551.643 |
|
(c) Other current liabilities |
|
4.212 |
0.000 |
|
(d) Short-term provisions |
|
62.280 |
44.500 |
|
Total
Current Liabilities (4) |
|
495.225 |
755.998 |
|
|
|
|
|
|
TOTAL |
|
901.083 |
1193.063 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
74.197 |
65.386 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
47.432 |
47.432 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
121.629 |
112.818 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
257.417 |
701.889 |
|
(c) Trade receivables |
|
188.227 |
178.777 |
|
(d) Cash and cash equivalents |
|
245.190 |
114.372 |
|
(e) Short-term loans and
advances |
|
86.970 |
83.722 |
|
(f) Other current assets |
|
1.650 |
1.485 |
|
Total
Current Assets |
|
779.454 |
1080.245 |
|
|
|
|
|
|
TOTAL |
|
901.083 |
1193.063 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
4.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
320.347 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
324.347 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
7.276 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
7.276 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
331.623 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
56.749 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
9.335 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
263.789
|
|
|
Sundry Debtors |
|
|
207.986
|
|
|
Cash & Bank Balances |
|
|
159.315
|
|
|
Other Current Assets |
|
|
1.240
|
|
|
Loans & Advances |
|
|
58.591
|
|
Total
Current Assets |
|
|
690.921
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
368.307 |
|
|
Other Current Liabilities |
|
|
13.575
|
|
|
Provisions |
|
|
43.500
|
|
Total
Current Liabilities |
|
|
425.382
|
|
|
Net Current Assets |
|
|
265.539
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
331.623 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
6490.000 |
4815.400 |
5687.200 |
|
|
|
Other Income |
NA |
NA |
3.663 |
|
|
|
TOTAL |
NA |
NA |
5690.863
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Raw Material Consumed |
|
|
|
|
|
|
Payments to and provision for employees |
|
|
|
|
|
|
TOTAL |
NA |
NA |
5647.325
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
NA |
43.539 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
13.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
37.300 |
37.200 |
30.039 |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
2404.690 |
967.670 |
2433.239 |
|
|
|
|
|
|
|
|
|
|
FOB VALUE OF
EXPORTS |
0.000 |
112.330 |
45.894 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
932.50 |
930.00 |
750.96 |
|
|
Particulars |
|
|
31.03.2013 |
|
OPERATING INCOME |
|
|
8740.000 |
|
|
|
|
|
|
PROFIT AFTER TAX |
|
|
51.000 |
NOTE: Latest financial for the year 2013, taken from indirect source i.e. ICRA
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA |
0.53 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
0.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA |
5.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.19
|
0.65 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.57
|
1.43 |
1.62 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
4.000 |
4.000 |
|
Reserves & Surplus |
357.582 |
336.742 |
|
Net
worth |
361.582 |
340.742 |
|
|
|
|
|
long-term borrowings |
75.483 |
65.116 |
|
Short term borrowings |
159.855 |
0.000 |
|
Total
borrowings |
235.338 |
65.116 |
|
Debt/Equity
ratio |
0.651 |
0.191 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
5687.200 |
4815.400 |
6490.000 |
|
|
|
(15.329) |
34.776 |
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 |
5687.200 |
4815.400 |
6490.000 |
|
Profit |
30.039 |
37.200 |
37.300 |
|
|
0.53% |
0.77% |
0.57% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: 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 |
Yes |
|
11] |
Turnover of firm for last
four years |
Yes |
|
12] |
Profitability for last
four 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) |
Yes |
|
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 |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
REVIEW OF PERFORMANCE
Sales during the year was Rs. 6490.000 Millions compared with the previous years figures of 4815.400 Millions. Profit after tax was Rs. 37.300 Millions compared with Rs. 37.200 Millions in the previous year.
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs. in Millions) |
31.03.2011 (Rs. in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from others |
57.500 |
70.000 |
|
Total |
57.500 |
70.000 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U15313PN1985PTC036382 |
|
Name of the
company |
|
|
Address of the
registered office or of the principal place of business in |
71/A, Hadapsar Industrial Estate,
Pune-411013, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
Corporation Bank, Aditi Commerce Centre,
2406, General Thimayya Road, Pune
– 411001, Maharashtra, India Email: cb0132@corpbank.co.in
|
|
Nature of
instrument creating charge |
1. Agreement for
Term Loan dated 31st May, 2013 for granting financial accommodation by way of
loan of Rs. 10.000 Millions. 2. Agreement for
Hypothecation of Vehicle dated 31st May, 2013 for securing the due payment of
borrowing of term loan of Rs. 10.000 Millions made
by the Company from the bank in virtue of the above said Agreement of Term
Loan. |
|
Date of
instrument Creating the charge |
31.05.2013 |
|
Amount secured by
the charge |
10.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Base Rate 10.25% Terms of
Repayment Repayment within
36 months from the date of disbursement in 36 equated monthly installments of
Rs. 3,23,847/- each.. Margin 53.86% Extent and
Operation of the charge The charge
operates to provide specific security for the repayment / Payment of the principle
amount of the facilities, all
interest, premia on prepayment, fees, costs,
charges, expenses etc. |
|
Short particulars
of the property charged |
Motor car
"Porsche Cayenne GTS 92AAL" bearing Chasis
No. WP1ZMC928DLA76327 |
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Other equipments
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 records 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.60.21 |
|
|
1 |
Rs.101.05 |
|
Euro |
1 |
Rs.83.33 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
49 |
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.