MIRA
INFORM REPORT
|
Report Date : |
14.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
KAPIL RAYON (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
127/129 Old Hanuman Lane, 1st Floor,
Kalbadevi Road, Room No. 12 And 13, Mumbai – 400002, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
21.09.2000 |
|
|
|
|
Com. Reg. No.: |
11-128813 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 2.700 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51311MH2000PTC128813 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK08088D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of textile fabrics. |
|
|
|
|
No. of Employees
: |
115 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 110000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. External borrowing of the company is huge which act as threat to
liquidity position of the company. However, trade relation 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 |
ICRA |
|
Rating |
Long term loans = B- |
|
Rating Explanation |
Risk of prone credit quality and very high credit risk. |
|
Date |
September 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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mrs. Jinal |
|
Designation : |
Accounts Head |
|
Date : |
08.04.2014 |
LOCATIONS
|
Registered Office : |
127/129 Old Hanuman Lane, 1st Floor,
Kalbadevi Road, Room No. 12 And 13, Mumbai – 400002, Maharashtra, India |
|
Tel. No.: |
91-22-32407702 / 22091139 |
|
Mobile No.: |
91-9820328190 (Mr.
Pinkesh Shah) |
|
Fax No.: |
91-22-22091139 / 32407702 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 Sq.ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
68, Sapna Industrial Estate, Plot No. 2 and 3, Village Saravali, MTNL,
Bhivandi, Kalyan. Maharashtra, India |
DIRECTORS
As on 30.09.2013
|
Name : |
Pinkesh Uttamchand Shah |
|
Designation : |
Director |
|
Address : |
127/128, Old Hanuman Lane, 1st Floor, Kalbadevi Road, Mumbai - 400
002, Maharashtra, India |
|
Date of Birth/Age : |
02.09.1970 |
|
Date of Appointment : |
21.09.2000 |
|
DIN No. : |
00163418 |
|
|
|
|
Name : |
Kapil Uttamchand Shah |
|
Designation : |
Director |
|
Address : |
127/128, Old Hanuman Lane, 1st Floor, Kalbadevi Road, Mumbai - 400
002, Maharashtra, India |
|
Date of Birth/Age : |
08.06.1978 |
|
Date of Appointment : |
21.09.2000 |
|
DIN No. : |
00163481 |
KEY EXECUTIVES
|
Name : |
Mrs. Jinal |
|
Designation : |
Accounts Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
Shareholdings file attached.
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
99.97 |
|
Other top fifty shareholders |
0.03 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20260773%2014-Apr-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of textile fabrics. |
|
|
|
|
Imports : |
|
|
Products : |
Machines |
|
Countries : |
·
France ·
Belgium |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit, LC |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
115 (Approximately) |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Bankers : |
·
Indusind Bank Limited, Ground Flr, Shop. No 1,2,3
and 12,13,14, Jewel World, Cotton Exchange Building, 175, Kalbadevi Road,,
Mumbai - 400002, Maharashtra, India ·
Corporation Bank Kalbadevi Branch,68/72 Babu Genu
Road, Kalbadevi Road, Mumbai - 400002, Maharashtra, India |
||||||||||||||||||||||||
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||||||||||||||||||||||||
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Facilities : |
Cash Credit : Rs.20.000 Millions
|
|
|
|
|
Banking
Relations : |
---- |
|
|
|
|
Auditors : |
|
|
Name : |
D. R. Mehta and Company (Dulehraj M. Mehta) Chartered Accountants |
|
Address : |
Balkrishna Krupa CHS, 3rd Floor, 45/49, Babu Genu Road, Kalbadevi,
Mumbai – 400002, Maharashtra, India |
|
PAN No.: |
AAEPM5178R |
|
Tel. No.: |
91-22-22051620 / 21 |
|
Fax No.: |
91-22-22019235 |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
270040 |
Equity Shares |
Rs.10/- each |
Rs. 2.700 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 |
2.700 |
1.300 |
1.300 |
|
(b) Reserves & Surplus |
24.570 |
11.008 |
10.235 |
|
(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) |
27.270 |
12.308 |
11.535 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
154.419 |
121.199 |
44.478 |
|
(b) Deferred tax liabilities
(Net) |
1.047 |
0.282 |
0.345 |
|
(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) |
155.466 |
121.481 |
44.823 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
30.647 |
9.597 |
18.523 |
|
(c) Other current liabilities |
5.296 |
2.978 |
6.590 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
35.943 |
12.575 |
25.113 |
|
|
|
|
|
|
TOTAL |
218.679 |
146.364 |
81.471 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
75.838 |
15.046 |
15.196 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
19.939 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.300 |
0.300 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
15.855 |
15.520 |
15.500 |
|
(e) Other Non-current assets |
2.564 |
1.659 |
1.294 |
|
Total
Non-Current Assets |
94.557 |
52.464 |
31.990 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
22.091 |
18.187 |
0.000 |
|
(b) Inventories |
42.935 |
15.609 |
17.008 |
|
(c) Trade receivables |
46.181 |
29.372 |
20.261 |
|
(d) Cash and cash equivalents |
0.594 |
0.504 |
11.154 |
|
(e) Short-term loans and
advances |
12.321 |
30.228 |
1.058 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
124.122 |
93.900 |
49.481 |
|
|
|
|
|
|
TOTAL |
218.679 |
146.364 |
81.471 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
200.700 |
127.691 |
148.253 |
|
|
Other Income |
3.983 |
0.982 |
0.249 |
|
|
TOTAL
(A) |
204.683 |
128.673 |
148.502 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
|
50.080 |
56.224 |
|
|
Purchases of Stock-in-Trade |
|
26.733 |
22.459 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
1.259 |
13.069 |
|
|
Employees benefits expense |
|
6.996 |
5.921 |
|
|
Other expenses |
|
32.115 |
40.869 |
|
|
TOTAL
(B) |
202.923 [Including
Finance and Depreciation Expenses] |
117.452 |
138.542 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
|
11.491 |
9.960 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
8.115 |
6.484 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
3.376 |
3.476 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
|
2.214 |
2.226 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
1.760 |
1.162 |
1.250 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
0.799 |
0.389 |
0.413 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
0.961 |
0.773 |
0.837 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
3.56 |
5.95 |
6.44 |
%20PRIVATE%20LIMITED%20-%20260773%2014-Apr-2014_files/image003.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.47
|
0.60 |
0.56 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.88
|
0.91 |
0.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.81
|
0.92 |
1.53 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.09 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.66
|
9.85 |
3.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.45
|
7.47 |
1.97 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
1.300 |
1.300 |
2.700 |
|
Reserves & Surplus |
10.235 |
11.008 |
24.570 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
11.535 |
12.308 |
27.270 |
|
|
|
|
|
|
long-term borrowings |
44.478 |
121.199 |
154.419 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
44.478 |
121.199 |
154.419 |
|
Debt/Equity
ratio |
3.856 |
9.847 |
5.663 |
%20PRIVATE%20LIMITED%20-%20260773%2014-Apr-2014_files/image005.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
148.253 |
127.691 |
200.700 |
|
|
|
(13.870) |
57.176 |
%20PRIVATE%20LIMITED%20-%20260773%2014-Apr-2014_files/image007.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
148.253 |
127.691 |
200.700 |
|
Profit After Tax |
0.837 |
0.773 |
0.961 |
|
|
0.56% |
0.61% |
0.48% |
%20PRIVATE%20LIMITED%20-%20260773%2014-Apr-2014_files/image009.gif)
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 |
Yes |
|
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 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 |
Yes |
|
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 |
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 |
Yes |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
|
|
|
|
Term loans |
110.785 |
101.442 |
|
|
|
|
|
Total |
110.785 |
101.442 |
FINANCIAL RESULTS:
During the year the
partial project of the company was completed and the production had commenced.
The company is hopeful of achieving a huge turnover in the ensuing years to
come due to the high production and cost effective. The company recorded a
turnover of Rs.200.700 millions (Rs.127.691 millions). The company’s has been
able to sustain and continue its efforts to control costs and optimal
utilization of resources. The net profit before tax of the company is Rs.1.760
millions (Rs.1.162 millions). The Directors are hopeful to achieve better
results and performance in ensuing years to come.
FUTURE PROSPECTS:
With multifold
changes happening in the world economy accompanied with the government
policies, the company is hopeful of achieving substantial benefits of the
rising prices in the next years and ensuring huge production based on the new
machineries and setup.
Bankers Charges
Report as per Registry
|
Corporate identity number (CIN)
or foreign company registration number of the company |
U51311MH2000PTC128813 |
|
Name of the
company |
KAPIL RAYON
(INDIA) PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
127/129 Old Hanuman Lane, 1st Floor,
Kalbadevi Road, Room No. 12 And 13, Mumbai – 400002, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) ·
Floating charge |
|
Particular of charge
holder |
Indusind Bank
Limited, Ground Flr, Shop. No 1,2,3 and 12,13,14, Jewel World, Cotton
Exchange Building, 175, Kalbadevi Road,, Mumbai - 400002, Maharashtra, India Email: vlaxmancrc@gmail.com |
|
Nature of
instrument creating charge |
Deed of
Hypothecation by Borrower. |
|
Date of
instrument Creating the charge |
06.03.2014 |
|
Amount secured by
the charge |
Rs. 171.300
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest Interest as may be stipulated by the bank from time to time. Terms of repayment On demand. Margin As may be stipulated by Bank from time to time. Extent and operation of the charge Hypothecation charge on Assets of the Company as described under Item
No.15 as security for repayment of total facility/ is of Rs. 171.300 Millions
together with all interest, costs, charges, expenses & other monies due
and payable under the said facilities granted by the bank to the Company. Others Nil |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
·
All present
and future of the movable properties of the Company including without
limitation its movable plant and machinery, furniture and fittings,
equipment, ----- As per annexure attached------ ·
All present and
future book debts, outstandings moneys receivable, claims and bills which are
now due and owing or which may at any time during the continuance ----- As
per annexure attached------ ·
All present and
future stock in trade consisting of raw materials, finished goods, goods in
process of manufacturing and other merchandise whatsoever, being movable ---As per annexure attached---- |
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.60.27 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.83.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
2 |
|
--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 |
|
29 |
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.