MIRA
INFORM REPORT
|
Report Date : |
19.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
LEHRA FUEL TECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Chhapar Road, Ahmedgarh, Sangrur – 148 023, Punjab |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
23.01.1995 |
|
|
|
|
Com. Reg. No.: |
16-015679 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.2.633 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U40107PB1995PTC015679 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in manufacturing of CE
certified Briquette Press and Machines for Briquetting biomass into
non-conventional renewable energy. |
|
|
|
|
No. of Employees
: |
75 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 160000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. There appears dip in profitability of the company during financial
year 2013. However, general financial position of the company seems to be sound
and healthy. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade terms
and condition. |
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 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
|
Name : |
Mr. Sarabjit Singh |
|
Designation : |
Director |
|
Contact No.: |
91-9915200337 |
|
Date : |
05.04.2014 |
LOCATIONS
|
Registered Office : |
Chhapar Road, Ahmedgarh, Sangrur – 148 023, Punjab, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9915200537 (Mr. Sukhawinder Singh) 91-9915200337 (Mr. Sarabjit Singh) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Malerkotla Road, KM 27, Opposite BP Petrol Pump, V.P.O. Jagera,
Ludhiana – 141 117, Punjab, India |
|
Tel. No.: |
91-1675-242981/ 243462/ 244440 |
|
Fax No.: |
91-1675-242981 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Harbans Surjit Singh |
|
Designation : |
Managing Director |
|
Address : |
V.P.O. Jagera, Tehsil Delhon, Ludhiana – 141 118, Punjab, India |
|
Date of Birth/Age : |
01.06.1948 |
|
Date of Appointment : |
23.01.1995 |
|
DIN No.: |
01923316 |
|
|
|
|
Name : |
Mr. Sukhwinder Harbans Singh |
|
Designation : |
Director |
|
Address : |
V.P.O. Jagera, Tehsil Delhon, Ludhiana – 141 118, Punjab, India |
|
Date of Birth/Age : |
26.10.1981 |
|
Date of Appointment : |
02.05.2006 |
|
DIN No.: |
01923328 |
|
PAN No.: |
AMTPS6629N |
|
|
|
|
Name : |
Mr. Sarabjit Harbans Singh |
|
Designation : |
Director |
|
Address : |
V.P.O. Jagera, Tehsil Delhon, Ludhiana – 141 118, Punjab, India |
|
Date of Birth/Age : |
28.02.1979 |
|
Date of Appointment : |
02.05.2006 |
|
DIN No.: |
01923334 |
|
PAN No.: |
AEHPS0946J |
|
|
|
|
Name : |
Mrs. Mohinder Kaur |
|
Designation : |
Director |
|
Address : |
V.P.O. Jagera, Tehsil Delhon, Ludhiana – 141 118, Punjab, India |
|
Date of Birth/Age : |
06.03.1951 |
|
Date of Appointment : |
02.06.1997 |
|
DIN No.: |
01923339 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Harbans Singh |
90390 |
34.34 |
|
Gurddep Kaur |
14200 |
5.39 |
|
Mahinder Kaur |
41300 |
15.69 |
|
Sarabjit Singh |
58760 |
22.32 |
|
Sukwinder Singh |
58600 |
22.26 |
|
Total
|
263250 |
100.00 |
AS ON 30.09.2013
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of CE
certified Briquette Press and Machines for Briquetting biomass into
non-conventional renewable energy. |
|
|
|
|
Products : |
·
Briquetting
Press ·
Flash
Dryer ·
Rotary
Drum Dryer ·
Hammer
Mill Grinder ·
Chipper
Shredder ·
Material
Handling |
|
|
|
|
Exports : |
|
|
Products : |
·
Finished Goods |
|
Countries : |
·
Europe ·
South Africa ·
Asia ·
North America |
|
|
|
|
Imports : |
|
|
Products : |
·
Raw Materials |
|
Countries : |
·
Korea ·
US |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Cheque and Credit |
|
|
|
|
Purchasing : |
Cash, Cheque and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Kumar Engineering Corporation, Gobindgarh ·
Sainik Hydraulic (India) ·
Aman Agencies ·
B.K. Steel Company ·
Fateh Singh and Company ·
Gulati Electricals ·
Joginder Electric Works ·
Moxie Enterprises ·
Punjab Engineering Company ·
Makkar Mill Store ·
Wadhawan Mill Store ·
Vicky Motors, Delhi ·
Subash Iron Store ·
Spark Engines Private Limited |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Customers : |
·
Bindal Industries, Gorakhpur ·
Gwala Agro, Agra ·
Jain Overseas, Hansi ·
Khan Bio Fuels, Shahjahanpur ·
Navya Industries, Bikaner ·
Poswal Trading Company, Naraingarh ·
Ravinder Kumar Tamta, Almora (U.K.) ·
Sheel Industries, Bikaner ·
Shikha Wood Designer, Channai ·
Shree Jee Green Power, Dholpur ·
Shree Pandurang Sahakari Sakhar Karkhana Limited, ·
Suyash Udyog Private Limited, Haldwani ·
Tamotia Bio Fuel Inds., Gwalior ·
Kec Forgings Private Limited, Gobindgarh ·
Punjab Hammer Private Limited, Gobindgarh ·
Sonia Overseas Private Limited, Panchkula ·
Workwell, Mohali |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
75 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
·
Punjab National Bank, Ahmedgarh Mandi – 148 021,
Punjab, India ·
ICICI Bank Limited, Ludhiana, Punjab, India ·
Punjab National Bank, Ludhiana, Punjab, India |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
Notes: Short Term
Borrowings: I.
Detail of security for secured loans The Cash Credit Limit
with Punjab National Bank, Ahmedgarh is secured against hypothecation of stocks
of Raw Material Work in Progress and Finished Goods. II.
Detail of loans have guaranteed by directors or others The Cash Credit Limit
with Punjab National Bank, Ahmedgarh is secured against Equitable mortgage of
property in the name of company. Further the Cash Credit
Limit with Punjab National Bank, Ahmedgarh is secured against personal
guarantee given by the all directors. III. Period and amount of
continuing default as on the balance sheet date in respect of loans and
interest The company has not
committed any default in payment of loans & Interest thereon. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Raj Kumar Jindal and Company Chartered Accountants |
|
Address : |
Pandher Colony, Opposite Civil Courts, Thandi Sarak, Malerkotla – 148
023, Punjab, India |
|
Tel. No.: |
91-1675-255340 |
|
Mobile No.: |
91-9463851000 |
|
PAN No.: |
AANFR0692J |
|
|
|
|
Associates/ Subsidiaries (As confirmed by management) : |
Lehra Agro Fuel Industries |
CAPITAL STRUCTURE
AFTER 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
263250 |
Equity Shares |
Rs.10/- each |
Rs.2.633
millions |
|
|
|
|
|
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
700000 |
Equity Shares |
Rs.10/- each |
Rs.7.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
263250 |
Equity Shares |
Rs.10/- each |
Rs.2.633
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 |
2.633 |
2.633 |
2.633 |
|
(b) Reserves & Surplus |
19.881 |
16.298 |
8.887 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
17.429 |
16.459 |
11.537 |
|
Total
Shareholders’ Funds (1) + (2) |
39.943 |
35.390 |
23.057 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.524 |
0.524 |
0.524 |
|
(b) Deferred tax liabilities (Net) |
1.131 |
1.049 |
0.462 |
|
(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) |
1.655 |
1.573 |
0.986 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
6.792 |
2.064 |
2.129 |
|
(b)
Trade payables |
7.958 |
8.893 |
7.747 |
|
(c)
Other current liabilities |
16.732 |
22.062 |
14.690 |
|
(d) Short-term
provisions |
1.561 |
2.773 |
1.575 |
|
Total Current
Liabilities (4) |
33.043 |
35.792 |
26.141 |
|
|
|
|
|
|
TOTAL |
74.641 |
72.755 |
50.184 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
32.864 |
30.204 |
19.926 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
15.259 |
6.434 |
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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.856 |
0.856 |
0.316 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
48.979 |
37.494 |
20.242 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
11.887 |
16.714 |
13.314 |
|
(c)
Trade receivables |
1.556 |
8.265 |
11.657 |
|
(d) Cash
and cash equivalents |
2.695 |
2.782 |
0.984 |
|
(e)
Short-term loans and advances |
9.524 |
7.500 |
3.987 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
25.662 |
35.261 |
29.942 |
|
|
|
|
|
|
TOTAL |
74.641 |
72.755 |
50.184 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
161.420 |
162.819 |
100.204 |
|
|
|
Other Income |
0.243 |
0.257 |
0.078 |
|
|
|
TOTAL (A) |
161.663 |
163.076 |
100.282 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
148.520 |
92.384 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
151.415 |
148.520 |
92.384 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10.278 |
14.556 |
7.898 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
0.275 |
0.085 |
0.107 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
10.003 |
14.471 |
7.791 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.689 |
3.596 |
2.528 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
5.314 |
10.875 |
5.263 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.731 |
3.463 |
1.721 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
3.583 |
7.412 |
3.542 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
6.728 |
2.756 |
4.449 |
|
|
TOTAL EARNINGS |
6.728 |
2.756 |
4.449 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Machinery |
3.899 |
4.128 |
0.000 |
|
|
TOTAL IMPORTS |
3.899 |
4.128 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
13.61 |
28.16 |
13.45 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
175.000 |
|
|
|
|
|
Expected Sales (2014-2015): Rs.200.000 millions
The above information has been parted by Mr. Sarabjit Singh (Director).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.22 |
4.55
|
3.53 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.29 |
6.68
|
5.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.95 |
16.40
|
10.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.31
|
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.18 |
0.07
|
0.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.78 |
0.99
|
1.15 |
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 |
2.633 |
2.633 |
2.633 |
|
Reserves & Surplus |
8.887 |
16.298 |
19.881 |
|
Share
Application money pending allotment |
11.537 |
16.459 |
17.429 |
|
Net worth |
23.057 |
35.390 |
39.943 |
|
|
|
|
|
|
Long-term borrowings |
0.524 |
0.524 |
0.524 |
|
Short term borrowings |
2.129 |
2.064 |
6.792 |
|
Total borrowings |
2.653 |
2.588 |
7.316 |
|
Debt/Equity ratio |
0.115 |
0.073 |
0.183 |
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 |
100.204 |
162.819 |
161.420 |
|
|
|
62.488 |
-0.859 |
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 |
100.204 |
162.819 |
161.420 |
|
Profit |
3.542 |
7.412 |
3.583 |
|
|
3.53% |
4.55% |
2.22% |
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 |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10083567 |
06/09/2012 * |
10,000,000.00 |
PUNJAB NATIONAL BANK |
AHMEDGARH MANDI,
AHMEDGARH MANDI, PUNJAB - 148021, INDIA |
B58416819 |
|
2 |
90311361 |
18/01/2000 |
550,000.00 |
PUNJAB AND SIND BANK |
AHMEDNAGAR BRANCH,
MOHALI, PUNJAB, INDIA |
- |
|
3 |
90310900 |
28/09/2001 * |
625,000.00 |
PUNJAB AND SIND BANK |
AHMEDGARH BRANCH, MOHALI,
PUNJAB, INDIA |
- |
|
4 |
90310895 |
19/08/1998 * |
1,070,000.00 |
PUNJAB AND SIND BANK |
AHMEDNAGAR BRANCH,
MOHALI, PUNJAB, INDIA |
- |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG
TERM BORROWINGS |
|
|
|
Loans
and advances from related parties |
0.524 |
0.524 |
|
Total
|
0.524 |
0.524 |
FIXED ASSETS
·
Air Conditioner
·
Building
·
Computer
·
Electric Installation
·
Furniture
·
Generator
·
Land
·
Machinery
·
Office Equipments
·
Phone Set Vehicles
·
Tata Mobiles
·
Transformer
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.60.38 |
|
UK Pound |
1 |
Rs.101.63 |
|
Euro |
1 |
Rs.83.57 |
INFORMATION DETAILS
|
Information Gathered
by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
3 |
|
--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 |
|
44 |
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.