MIRA INFORM REPORT
|
Report Date : |
17.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
K. D. JOSHI
RUBBER INDUSTRIES PRIVATE LIMITED (w.e.f. 23.01.2008) |
|
|
|
|
Formerly Known As : |
K. D. JOSHI
RUBBER INDUSTRIES AND TRADING PRIVATE
LIMITED |
|
|
|
|
Registered Office : |
Ramanbag Society,
353, Shaniwar Peth, Pune-411030, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
31.12.1981 |
|
|
|
|
Com. Reg. No.: |
11-25955 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.430
Million |
|
|
|
|
CIN No.: [Company
Identification No.] |
U25199PN1981PTC025955 |
|
|
|
|
Legal Form : |
Private Limited
Liability Company |
|
|
|
|
Line of Business : |
Manufacturers and
Exporter of Rubber and Polyurethane components for Industrial Application. |
|
|
|
|
No. of Employees : |
60 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 74000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Overall financial position of the company is decent. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct. The company can be considered for business dealing 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.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1 million
Indian tourists in 2012), Thailand (one million), the United Arab Emirates
().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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
|
Name : |
Mr. Milind Kamalakar Joshi |
|
Designation : |
Director |
|
Contact No.: |
91-9822655071 |
|
Date : |
12.04.2014 |
LOCATIONS
|
Registered Office : |
Ramanbag Society,
353, Shaniwar Peth, Pune-411030, Maharashtra, India |
|
Tel. No.: |
91-20-445254 /
4457699 / 27474181 / / 27472170 / 65110649 |
|
Mobile No.: |
91-9822655071 (Mr. Milind
Kamalakar Joshi) |
|
Fax No.: |
91-20-24492284 |
|
E-Mail : |
|
|
Area : |
600 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Plot No. A 83-85,
H Block, MIDC, Pimpri, Pune-411018, Maharashtra, India |
|
Tel. No.: |
91-20-27474181 / 27472170
/ 7474181 / 7472170 |
|
Fax No.: |
91-20-66112066 |
|
Area : |
Plot Area –
20000sq.fts Built up –
10000sq.fts |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Gala No. 64, Parmar Industrial Complex, Chinchwad, Pune, Maharashtra,
India |
|
Area: |
600 Sq.fts. |
|
Location : |
Owned |
|
|
|
|
Branches : |
Shop No. 7 and 8,
606/ A-2, Varun Complex, GIDC, Sachin, Surat, Gujarat, India |
|
E-Mail : |
|
|
Area : |
450 Sq. ft. |
|
Location : |
Leased |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Milind Kamalakar Joshi |
|
Designation : |
Director |
|
Address : |
353, Shaniwar Peth, Pune-411030, Maharashtra, India |
|
Qualification : |
M. Com |
|
Date of Birth/Age : |
27.05.1960 |
|
Age : |
54 Years |
|
Date of Appointment : |
31.12.1981 |
|
DIN No.: |
01856867 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U25199PN1981PTC025955 |
K.D.JOSHI RUBBER
INDUSTRIES PRIVATE LIMITED |
Director |
31/12/1981 |
31/12/1981 |
- |
Active |
NO |
|
2 |
U65993PN1981PTC025956 |
K D JOSHI
FINANCE AND INVESTMENT PVT LTD |
Director |
31/12/1981 |
31/12/1981 |
- |
Active |
NO |
|
3 |
U65993PN1983PTC029705 |
MAKARAND HOLDING
PVT LTD |
Director |
31/03/1983 |
31/03/1983 |
- |
Active |
NO |
|
4 |
U29299MH1987PTC044139 |
METALIKA
PRODUCTS PVT LTD |
Director |
22/07/1987 |
22/07/1987 |
- |
Active |
NO |
|
Name : |
Mr. Makrand Kamalakar Joshi |
|
Designation : |
Director |
|
Address : |
353, Shaniwar Peth, Pune-411030, Maharashtra, India |
|
Date of Birth/Age : |
30.04.1960 |
|
Age : |
51 Years |
|
Qualification : |
B. E. |
|
Date of Appointment : |
31.12.1981 |
|
DIN No.: |
01856885 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U65993PN1981PTC025956 |
K D JOSHI
FINANCE AND INVESTMENT PVT LTD |
Director |
31/12/1981 |
31/12/1981 |
- |
Active |
NO |
|
2 |
U25199PN1981PTC025955 |
K.D.JOSHI RUBBER
INDUSTRIES PRIVATE LIMITED |
Director |
31/12/1981 |
31/12/1981 |
- |
Active |
NO |
|
3 |
U65993PN1983PTC029705 |
MAKARAND HOLDING
PVT LTD |
Director |
31/03/1983 |
31/03/1983 |
- |
Active |
NO |
|
4 |
U29299MH1987PTC044139 |
METALIKA
PRODUCTS PVT LTD |
Director |
26/07/1994 |
26/07/1994 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Kamalakar Damodar Joshi |
23650 |
|
Milind Kamalakar Joshi |
4300 |
|
Makrand Kamalakar Joshi |
12900 |
|
Milind Joshi |
2150 |
|
TOTAL
|
43000 |
AS ON 30.09.2013
|
Equity Shares Break
Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and
Exporter of Rubber and Polyurethane components for Industrial Application. |
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Products : |
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Exports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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No. of Employees : |
60 (Approximately) |
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Bankers : |
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Facilities : |
Note : Short Term
Borrowing Car loan from Bank of Baroda is secured by hypothecation of vehicle
and personal guarantee of Director of the Company. Cash credit from bank is secured against hypothecation of inventories and
trade receivables and a second charge on the factory premises of the company.
The cash credit is carries an interest rate @ 11 % to 13.75% p.a. Loan from Shareholders and directors and their relatives are carring an
interest of @ 10 % to
12 %. |
|||||||||||||||||||||||||||||||||||||||
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|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chandorkar and Limaye Chartered Accountant |
|
Address : |
914, Sadashiv Peth, Laxminarayan Society, Pune – 411030, Maharashtra,
India |
|
PAN No.: |
AABFC9951D |
|
|
|
|
Sister Concern / Associates / Subsidiaries : |
Address : Block F, Plot No.3, MIDC, Pimpari, Pune, Maharashtra, India Line of Business :- Manufacturers
and Exporter of Rubber and Polyurethane components for Industrial Application
|
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.10/- each |
Rs. 1.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
43000 |
Equity Shares |
Rs.10/- each |
Rs. 0.430
Million |
|
|
|
|
|
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 |
0.430 |
0.430 |
0.430 |
|
(b) Reserves & Surplus |
17.827 |
15.169 |
12.912 |
|
(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) |
18.257 |
15.599 |
13.342 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
15.834 |
16.012 |
12.904 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
15.834 |
16.012 |
12.904 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
5.180 |
2.989 |
3.247 |
|
(b) Trade
payables |
6.029 |
6.923 |
7.035 |
|
(c) Other
current liabilities |
0.831 |
1.139 |
5.159 |
|
(d) Short-term
provisions |
3.316 |
3.042 |
4.815 |
|
Total Current
Liabilities (4) |
15.356 |
14.093 |
20.256 |
|
|
|
|
|
|
TOTAL |
49.447 |
45.704 |
46.502 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
7.571 |
8.272 |
8.004 |
|
(ii)
Intangible Assets |
0.040 |
0.001 |
0.002 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.035 |
0.007 |
0.001 |
|
(d) Long-term Loan and Advances |
0.772 |
0.872 |
1.486 |
|
(e) Other
Non-current assets |
7.031 |
6.645 |
5.766 |
|
Total Non-Current
Assets |
15.449 |
15.797 |
15.259 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
6.754 |
8.012 |
8.179 |
|
(c) Trade
receivables |
23.151 |
20.768 |
19.398 |
|
(d) Cash
and cash equivalents |
3.452 |
0.637 |
0.683 |
|
(e)
Short-term loans and advances |
0.641 |
0.488 |
2.983 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
33.998 |
29.905 |
31.243 |
|
|
|
|
|
|
TOTAL |
49.447 |
45.704 |
46.502 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
65.969 |
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
65.617 |
65.969 |
66.935 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
61.760 |
62.066 |
59.348 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) |
3.857 |
3.903 |
7.587 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.199 |
1.646 |
2.473 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) |
2.658 |
2.257 |
5.115 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
Export Earnings |
1.160 |
1.048 |
0.035 |
|
|
|
TOTAL EARNINGS |
1.160 |
1.048 |
0.035 |
|
|
|
|
|
|
|
|
|
|
IMPORT |
|
|
|
|
|
|
Raw Material |
0.179 |
Nil |
NA |
|
|
|
TOTAL IMPORT |
0.179 |
Nil |
NA
|
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (Rs.) |
61.81 |
52.49 |
115.95 |
|
|
Particulars |
|
|
31.3.2014 |
|
Sales Turnover (Approximately) |
|
|
75.000 |
The above information has been parted by Mr. Milind Kamalakar Joshi
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.05 |
3.42 |
7.64 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.81 |
8.54 |
16.32 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.25 |
0.57 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.15 |
1.22 |
1.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.21 |
2.12 |
1.54 |
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 |
0.430 |
0.430 |
0.430 |
|
Reserves & Surplus |
12.912 |
15.169 |
17.827 |
|
Net
worth |
13.342 |
15.599 |
18.257 |
|
|
|
|
|
|
long-term borrowings |
12.904 |
16.012 |
15.834 |
|
Short term borrowings |
3.247 |
2.989 |
5.180 |
|
Total
borrowings |
16.151 |
19.001 |
21.014 |
|
Debt/Equity
ratio |
1.211 |
1.218 |
1.151 |
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) |
|
Total Income |
66.935 |
65.969 |
65.617 |
|
|
|
(1.443) |
(0.534) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Total Income |
66.935 |
65.969 |
65.617 |
|
Profit After Tax |
5.115 |
2.257 |
2.658 |
|
|
7.64% |
3.42% |
4.05% |
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
four 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 |
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] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
32] |
Passport No of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Rating Agency |
No |
UNSECURED LOAN
|
Particulars |
Rs.
In Millions 31.03.2013 |
Rs.
In Millions 31.03.2012 |
|
Long term
borrowing |
|
|
|
|
|
|
|
Other Loan And
Advance |
|
|
|
Loan Against FD-2172 |
1.438 |
1.766 |
|
Loan Against FD-257 |
0.207 |
0.214 |
|
|
|
|
|
From Directors/Shareholders |
|
|
|
Kamalakar Damodar Joshi |
3.689 |
3.688 |
|
Milind Kamalakar Joshi |
2.580 |
2.095 |
|
Makrand Kamalakar Joshi |
1.213 |
0.723 |
|
Milind Joshi |
0.200 |
0.200 |
|
From Relative
Director |
|
|
|
Mrs. Aparna Joshi |
1.576 |
1.584 |
|
Mrs. Archana Joshi |
1.656 |
1.668 |
|
From Others |
|
|
|
K D Joshi |
2.988 |
2.987 |
|
Sitabai Trust |
0.100 |
0.100 |
|
|
|
|
|
Total |
15.647 |
15.025 |
COMPANY OVERVIEW
The Company is a private
company domiciled and having registered office in Pune, India and incorporated
under the provisions of the Companies Act, 1956. The Company is principally
engaged in the business of manufacturing of Rubber and Engineering goods and
Labour Charges.
BUSINESS
OPERATIONS
During the year
total revenue was Rs. 65.617 millions (previous year Rs. 65.969 millions),
total expenditure was Rs. 61.760 millions (previous year Rs. 62.066 millions)
and resultant net profit was Rs. 3.857 millions (previous year Rs. 3.903
millions) before provision of income tax. Provision for income tax was Rs.
1.227 millions (previous year Rs. 1.651 millions) with the resultant net profit
after tax of Rs. 2.658 millions (previous year Rs. 2.257 millions).
The Directors are
hopeful of further improved performance during the current year.
VIEW INDEX OF
CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10303530 |
05/07/2011 |
374,000.00 |
BANK OF BARODA |
1303, Jangali
Maharaj Road, pune, Maharashtra - 41 |
B19305333 |
|
2 |
10231342 |
28/06/2010 |
8,965,000.00 |
BANK OF BARODA |
SHIVAJINAGAR
BRANCH, 1303, JANGLI MAHARAJ ROAD, PU |
A89607329 |
FIXED ASSETS
- Lease Hold Land
- Factory Building
- Office Building
- Furniture And Fixture
- Electrical Fitting
- Computer System
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 |
|
UK Pound |
1 |
Rs. 100.79 |
|
Euro |
1 |
Rs. 83.29 |
INFORMATION DETAILS
|
Information
Gathered by : |
GVT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.