MIRA INFORM REPORT
|
Report Date : |
15.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
RAWAL WASIA ISPAT UDYOG PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
11th KM Stone, Delhi Road, Hisar - 125044, Haryana |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
22.04.1985 |
|
|
|
|
Com. Reg. No.: |
05-020743 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3.490
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109HR1985PTC020743 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of ISI Marked ERW Black and GI Pipes and Tubes. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 260000 |
|
|
|
|
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 low profitability
levels and highly competitive nature of the industry. 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 |
ICRA |
|
Rating |
Fund based limits = BB |
|
Rating Explanation |
Moderate degree of safety and high credit risk. |
|
Date |
June 2013. |
|
Rating Agency Name |
ICRA |
|
Rating |
Non-Fund based limits = A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
June 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 BY
Management Non Co-operative
Contact No.: 91-1662-220089
LOCATIONS
|
Registered Office/ Factory : |
11th KM Stone, Delhi Road, Hisar - 125044, Haryana, India |
|
Tel. No.: |
91-1662-220089/220090/220091 |
|
Fax No.: |
91-1662-220088 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office: |
1/58, Asaf Ali Road, New Delhi – 110002, India |
|
Tel. No.: |
91-11-23239236/ 23230635 |
|
Fax No.: |
91-11-23239067 |
DIRECTORS
As on: 19.08.2013
|
Name : |
Mr. Ankit Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
House No.240, Prem Bhavan, Mandi Road, Hisar, Haryana,
India |
|
Date of Birth/Age : |
08.03.1985 |
|
Date of Appointment : |
01.04.2012 |
|
PAN No.: |
AFNPA4967L |
|
DIN No.: |
01489557 |
|
|
|
|
Name : |
Mr. Pawan Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
Prem Bhavan, Mandi Road, Hisar, Haryana, India |
|
Date of Birth/Age : |
17.04.1957 |
|
Date of Appointment : |
22.04.1985 |
|
PAN No.: |
ACGPA7560B |
|
DIN No.: |
00050032 |
|
|
|
|
Name : |
Mr. Ramesh Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
Ramesh Bhawan, Mandi Road, Hisar, Haryana, India |
|
Date of Birth/Age : |
01.11.1952 |
|
Date of Appointment : |
22.04.1985 |
|
PAN No.: |
ACXPA6619G |
|
DIN No.: |
00050178 |
|
|
|
|
Name : |
Mr. Prem Kumar Agarwal |
|
Designation : |
Director |
|
Address : |
Prem Bhavan, Mandi Road, Hisar, Haryana, India |
|
Date of Birth/Age : |
10.05.1955 |
|
Date of Appointment : |
22.04.1985 |
|
PAN No.: |
ACGPA1859H |
|
DIN No.: |
00049971 |
|
|
|
|
Name : |
Mr. Neeraj Agarwal |
|
Designation : |
Director |
|
Address : |
Ramesh Bhavan, Mandi Road, Hisar, Haryana, India |
|
Date of Birth/Age : |
21.01.1976 |
|
Date of Appointment : |
01.05.2012 |
|
PAN No.: |
ADDPA5310M |
|
DIN No.: |
00050183 |
|
Name : |
Mr. Dheeraj Agarwal |
|
Designation : |
Director |
|
Address : |
Ramesh Bhavan, Mandi Road, Hisar, Haryana, India |
|
Date of Birth/Age : |
06.10.1978 |
|
Date of Appointment : |
07.12.2012 |
|
PAN No.: |
ACRPA821611 |
|
DIN No.: |
00050194 |
MAJOR SHAREHOLDERS
As on: 19.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
Prem Kumar Agarwal |
|
2160 |
|
Pushpa Agarwal |
|
270 |
|
Kusum Agarwal |
|
3250 |
|
Pawan Kumar Agarwal |
|
100 |
|
Ramesh Kumar Agarwal |
|
6150 |
|
Ashok Kumar Agarwal |
|
500 |
|
Twinkle Leasing & Finance (Delhi) Limited, India |
|
3150 |
|
Pista Devi Agarwal |
|
190 |
|
Vishwanath Agarwal |
|
1900 |
|
R.K. Agarwal and Others (HUF) |
|
3550 |
|
Prateek Kumar Agarwal |
|
250 |
|
Ashok Kumar Agarwal and Others |
|
1600 |
|
Swati Agarwal |
|
780 |
|
Nikita Agarwal |
|
750 |
|
Bengal Enterprises (P) Limited, India |
|
2150 |
|
Ruchika Agarwal |
|
3250 |
|
Neeraj Agarwal and Family HUF |
|
250 |
|
Dheeraj Agarwal and Family HUF |
|
250 |
|
Prem Kumar Agarwal and Others HUF |
|
1300 |
|
Vishwanath Agarwal and Sons HUF |
|
1100 |
|
Ankit Kumar Agarwal |
|
1000 |
|
Aman Agarwal |
|
1000 |
|
Total |
|
34900 |
Equity Share Break up (Percentage of Total Equity)
As on: 19.08.2013
|
Category |
Percentage |
|
Bodies corporate |
15.00 |
|
Directors or relatives of Directors |
85.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of ISI Marked ERW Black and GI Pipes and Tubes. |
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Steel Pipe Tubes |
M.T. |
25000.000 |
11076.285 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
||||||||||||
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||||||||||||
|
Bankers : |
|
||||||||||||
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|
||||||||||||
|
Facilities : |
(Rs.
In Millions)
Short term borrowing from Bank secured against hypothecation of all current
assets cosisiting of raw material, consumable store, debts, stock in process
and finished goods lying in the factory premises as well as in transit and
further guaranteed by the director of the company. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ashok Kumar Goyal and Company Chartered Accountants |
|
Address : |
SCF 104, Green Square Market, Hisar - 125001, Haryana, India |
|
Tel. No.: |
91-1662-284840/ 284841 |
|
Mobile No.: |
91-9910812727/ 9910944011 |
|
E-Mail : |
|
|
PAN No.: |
AAYPG9297P |
|
|
|
|
Related Party : |
Synergy Waste Management Private Limited |
CAPITAL STRUCTURE
As on: 19.08.2013
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 |
|
|
|
|
|
|
34900 |
Equity Shares |
Rs.100/-
each |
Rs.3.490
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 |
3.490 |
3.490 |
3.490 |
|
(b) Reserves & Surplus |
59.908 |
56.610 |
53.242 |
|
(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) |
63.398 |
60.100 |
56.732 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.450 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
2.516 |
2.455 |
2.608 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
1.154 |
1.103 |
1.147 |
|
Total Non-current
Liabilities (3) |
3.670 |
4.008 |
3.755 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short
term borrowings |
107.166 |
79.410 |
101.641 |
|
(b) Trade
payables |
1.119 |
1.179 |
0.737 |
|
(c) Other
current liabilities |
9.521 |
5.694 |
6.678 |
|
(d) Short-term
provisions |
2.200 |
1.415 |
2.475 |
|
Total Current
Liabilities (4) |
120.006 |
87.698 |
111.531 |
|
|
|
|
|
|
TOTAL |
187.074 |
151.806 |
172.018 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
15.011 |
16.553 |
17.823 |
|
(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 |
0.100 |
0.148 |
0.148 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.037 |
1.037 |
1.027 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
16.148 |
17.738 |
18.998 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
65.487 |
42.048 |
87.352 |
|
(c) Trade
receivables |
69.185 |
56.530 |
45.943 |
|
(d) Cash
and cash equivalents |
0.140 |
0.295 |
0.294 |
|
(e)
Short-term loans and advances |
36.114 |
35.195 |
19.431 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
170.926 |
134.068 |
153.020 |
|
|
|
|
|
|
TOTAL |
187.074 |
151.806 |
172.018 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
647.655 |
590.513 |
585.263 |
|
|
|
Sales Profit on Trading |
0.000 |
0.000 |
0.000 |
|
|
|
Other Income |
10.929 |
17.079 |
6.810 |
|
|
|
TOTAL (A) |
658.584 |
607.592 |
592.073 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Raw Material Consumed |
586.638 |
468.517 |
412.003 |
|
|
|
Purchase of Stock in Trade |
0.000 |
27.851 |
98.614 |
|
|
|
Changes in Inventories of Finished Goods |
(28.624) |
19.387 |
2.332 |
|
|
|
Employee Benefit Expenses |
9.734 |
9.584 |
9.008 |
|
|
|
Other Expenses |
72.898 |
68.615 |
55.245 |
|
|
|
Extraordinary Items |
0.000 |
(2.451) |
(0.510) |
|
|
|
TOTAL (B) |
640.646 |
591.503 |
576.692 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
17.938 |
16.089 |
15.381 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
10.357 |
9.479 |
9.619 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.581 |
6.610 |
5.762 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.633 |
1.695 |
1.803 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
5.948 |
4.915 |
3.959 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.650 |
1.546 |
1.264 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3.298 |
3.369 |
2.695 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of FOB Value |
14.055 |
224.030 |
83.147 |
|
|
TOTAL EARNINGS |
14.055 |
224.030 |
83.147 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
94.49 |
96.52 |
77.21 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.50
|
0.55
|
0.46 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.92
|
0.83
|
0.68 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.18
|
3.24
|
2.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.08
|
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.69
|
1.33
|
1.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.42
|
1.53
|
1.37 |
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 |
3.490 |
3.490 |
3.490 |
|
Reserves & Surplus |
53.242 |
56.610 |
59.908 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
56.732 |
60.100 |
63.398 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.450 |
0.000 |
|
Short term borrowings |
101.641 |
79.410 |
107.166 |
|
Total
borrowings |
101.641 |
79.860 |
107.166 |
|
Debt/Equity
ratio |
1.792 |
1.329 |
1.690 |
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 |
585.263 |
590.513 |
647.655 |
|
|
|
0.897 |
9.677 |
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 |
585.263 |
590.513 |
647.655 |
|
Profit After Tax |
2.695 |
3.369 |
3.298 |
|
|
0.46% |
0.57% |
0.51% |
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 |
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
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 |
FINANCIAL RESULTS:
During the year under report, company has total revenue of Rs.658.584
Millions as against Rs.607.592 Millions in the previous year. After payment of
expenses and tax the current year working shows net profit of Rs.3.298 Millions
as against previous year profit Rs.3.369 Millions in the previous year.
CORPORATE
INFORMATION
Subject is an unlisted private company domiciled in India and is incorporated
under the provision of the companies Act, 1956. The company is engaged in the
manufacturing and selling of black and G.I. pipes. The company caters mainly to
the international markets.
UNSECURED LOAN
(Rs.
in Millions)
|
Particulars |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
|
Loans from shareholder and Director |
0.000 |
0.450 |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans from shareholder and Director |
2.675 |
0.000 |
|
Total |
2.675 |
0.450 |
VIEW INDEX OF
CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10259644 |
01/07/2013 * |
132,000,000.00 |
AXIS BANK
LIMITED |
SCO 177, CUE-1, HISAR,
Haryana - 125001, INDIA |
B79129573 |
* Date of charge modification
FIXED ASSETS:
- Land at Hisar
- Land at
Nangloi
- Office
Building
- Labour
Quarter
- Plant and
Machinery
- Transformer
- Weighing
Scales
- Generators
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.59.95 |
|
|
1 |
Rs.99.36 |
|
Euro |
1 |
Rs.82.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
NVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.