MIRA
INFORM REPORT
|
Report Date : |
28.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
NISHANT
ENTERPRISES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2, Capriana Apartments, 27, Rajnagar Society, Akota, Vadodara – 390
015, Gujarat |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
30.11.1994 |
|
|
|
|
Com. Reg. No.: |
04-023730 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.6.500
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45201GJ1994PTC023730 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDN00393B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Di ethyl phthalate, phenyl ethyl, phenyl ethyl methyl ether, phenyl
ethyl acetate, benzyl acetate, amyl acetate, amyl salicylate, aromatic
chemicals. |
|
|
|
|
No. of Employees
: |
35 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 414000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having satisfactory track record. Trade relations are
reported to be fair. Business is active. Payments are reported to be usually
correct and as per commitment. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 (GENERAL DETAILS)
|
Name : |
Mr. Parulbhai Laxmanbhai Patel |
|
Designation : |
Managing Director |
|
Contact No.: |
91-9825063377 |
|
Date : |
24.04.2014 |
LOCATIONS
|
Registered Office : |
2, Capriana Apartments, 27, Rajnagar Society, Akota, Vadodara – 390
015, Gujarat, India |
|
Tel. No.: |
91-265-3255023/ 2355472/ 73 |
|
Mobile No.: |
91-9825063377 (Mr. Parul Patel) |
|
Fax No.: |
91-265-2355468/ 2351990 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory : |
R.S. No.40/1, Jayant Desai Marg, Vagdhara Road, Village Dadra,
Silvassa, U.T. of Dadra and Nagar Haveli, India |
DIRECTORS
AS ON 25.09.2013
|
Name : |
Mr. Parulbhai Laxmanbhai Patel |
|
Designation : |
Managing Director |
|
Address : |
2, Capriana Apartments, 27, Rajnagar Society, Akota, Vadodara – 390
015, Gujarat, India |
|
Date of Birth/Age : |
17.08.1958 |
|
Qualifications : |
B. E. Mechanical |
|
Date of Appointment : |
15.07.2008 |
|
DIN No.: |
00403746 |
|
|
|
|
Name : |
Mr. Tarakbhai Laxmanbhai Patel |
|
Designation : |
Whole-time Director |
|
Address : |
2, Capriana Apartments, 27, Rajnagar Society, Akota, Vadodara – 390
015, Gujarat, India |
|
Date of Birth/Age : |
04.01.1967 |
|
Date of Appointment : |
15.07.2008 |
|
DIN No.: |
02259588 |
|
|
|
|
Name : |
Mr. Nilesh Shyam Dixit |
|
Designation : |
Whole-time Director |
|
Address : |
C/153, Sundervan Society, New Sama Road, Vadodara – 390 008, Gujarat,
India |
|
Date of Birth/Age : |
01.12.1956 |
|
Date of Appointment : |
17.06.2009 |
|
DIN No.: |
02049560 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Parulbhai Laxmanbhai Patel |
|
64200 |
|
Parul L. Patel HUF |
|
62000 |
|
Ujamben Laxmanbhai Patel |
|
77100 |
|
Tarakbhai Laxmanbhai Patel |
|
63200 |
|
Amiben Tarakbhai Patel |
|
62500 |
|
Bhartiben Parulbhai Patel |
|
153400 |
|
Harshadbhai Naranbhai Chhatrola |
|
1800 |
|
Tarak L. Patel HUF |
|
52800 |
|
Nishant Parulbhai Patel |
|
63000 |
|
Sujataben Harshad Patel |
|
50000 |
|
Total
|
|
650000 |
AS ON 25.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Di ethyl phthalate, phenyl ethyl, phenyl ethyl methyl ether, phenyl
ethyl acetate, benzyl acetate, amyl acetate, amyl salicylate, aromatic
chemicals. |
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|
Products : |
·
Chemicals ·
Plasticizers and Allied Products |
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Exports : |
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||||
|
Products : |
·
DEP and DOP ·
Chemicals ·
Plasticizers and Allied Products |
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|
Countries : |
·
· Europe · Spain ·
·
·
·
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Terms : |
|
||||
|
Selling : |
Cash, Advance and Credit (30 days) |
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|
Purchasing : |
Cash, Advance and Credit (30 days)
|
PRODUCTION STATUS [AS ON 31.03.2011]:
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
D.E.P. |
MT |
N.A. |
6,000 |
4064.535 |
|
Oils |
KL |
N.A. |
2,000 |
0.000 |
Notes:
·
Installed
capacity is stated on per annum basis.
·
Installed
capacity is as certified by the management, but not verified by the auditors
being a technical matter.
·
Figures
in the bracket are in respect of previous year.
GENERAL INFORMATION
|
Customers : |
End Users |
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|
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|
No. of Employees : |
35 (Approximately) |
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|
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|
Bankers : |
·
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel
(West), Mumbai – 400 013, Maharashtra, India ·
Oriental Bank of Commerce, Ankleshwar, Gujarat,
India ·
HDFC Bank Limited, Alka Puri Branch, Vadodara,
Gujarat, India |
||||||||||||||||||
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|
||||||||||||||||||
|
Facilities : |
Notes: Details of
Securities offered and Terms of Repayment and Interest: a) Loan from HDFC Bank
Limited i)
Hypothecation of the Stock and Book Debts of the Company as well as equitable
mortgage of immovable properties of the Company. Working Capital facilities
are repayable on demand and carry rate of interest 11.90% as on the Balance
Sheet Date. ii)
Equitable Mortgage of Property Situated at RS No.40/1, Jayant Desai Marg, Vaghdhara, Dadra. iii)
Personal Guarantee of Mr. Parul L. Patel, Mr. Tarak L. Patel, Mr. Druv P.
Patel and Dr. Nilesh Shyam Dixit, Directors of the Company and Parulbhai L.
Patel (HUF), Amiben T. Patel, Bhartiben P. Patel, Tarakbhai L. Patel (HUF),
Sujataben H. Patel and Nishant P. Patel, relatives of the Director of the
Company. b.) Loan from Life Insurance Corporation of India is secured by way of
pledge of Keyman Insurance Policy taken by the Company. It is repayable at
the end of six months from disbursement. Interest is payable @ 10.50% p.a. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Parikh Shah Chotalia and Associates Chartered Accountants |
|
Address : |
A/11, Sahajanand Apartments, Tarang Society, Opposite Akota Stadium,
Productivity Road, Vadodara – 390 020, Gujarat, India |
|
Tel. No.: |
91-265-2335917/ 3052101 |
|
E-Mail : |
|
|
PAN No.: |
AESPP8374E |
|
|
|
|
Group Companies : |
·
Lakshya
Enterprise Private Limited ·
Dhruv Cotton Processing Private Limited |
|
|
|
|
Enterprise over
which key management personnel and their relatives have significant influence
: |
·
Lakshya Enterprise ·
Tarak Roadlines ·
Tarak Patel (HUF) ·
Parul Patel (HUF) ·
Vedant Developers |
CAPITAL STRUCTURE
AS ON 25.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
750000 |
Equity Shares |
Rs.10/- each |
Rs.7.500 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
650000 |
Equity Shares |
Rs.10/- each
|
Rs.6.500
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 |
6.500 |
6.500 |
6.500 |
|
(b) Reserves & Surplus |
96.994 |
79.614 |
74.599 |
|
(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) |
103.494 |
86.114 |
81.099 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
29.555 |
1.569 |
6.781 |
|
(b)
Trade payables |
131.954 |
60.342 |
55.711 |
|
(c)
Other current liabilities |
7.408 |
1.444 |
5.333 |
|
(d) Short-term
provisions |
2.781 |
1.035 |
4.254 |
|
Total Current
Liabilities (4) |
171.698 |
64.390 |
72.079 |
|
|
|
|
|
|
TOTAL |
275.192 |
150.504 |
153.178 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
18.476 |
19.939 |
18.283 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
4.731 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.071 |
0.071 |
0.071 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
23.451 |
21.198 |
17.416 |
|
(e) Other
Non-current assets |
0.061 |
0.061 |
0.061 |
|
Total Non-Current
Assets |
46.790 |
41.269 |
35.831 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
98.585 |
25.503 |
46.905 |
|
(c)
Trade receivables |
94.957 |
57.698 |
50.285 |
|
(d) Cash
and cash equivalents |
3.272 |
8.743 |
2.072 |
|
(e)
Short-term loans and advances |
31.500 |
17.190 |
18.079 |
|
(f)
Other current assets |
0.088 |
0.101 |
0.006 |
|
Total
Current Assets |
228.402 |
109.235 |
117.347 |
|
|
|
|
|
|
TOTAL |
275.192 |
150.504 |
153.178 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Net
Sales |
668.455 |
379.317 |
313.729 |
|
|
|
Other Income |
NA |
NA |
6.379 |
|
|
|
TOTAL (A) |
NA |
NA |
320.108 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/
Decrease in Stocks |
NA |
NA |
6.424 |
|
|
|
Cost
of Materials |
NA |
NA |
256.104 |
|
|
|
Manufacturing Expenses |
NA |
NA |
9.765 |
|
|
|
Employees Cost |
NA |
NA |
13.982 |
|
|
|
Administration
and Other Expenses |
NA |
NA |
5.135 |
|
|
|
Selling
and Distribution Expenses |
NA |
NA |
3.042 |
|
|
|
Prior
Period (Income)/ Expenses |
NA |
NA |
(0.256) |
|
|
|
Excess Provision Written Back |
NA |
NA |
(0.010) |
|
|
|
TOTAL (B) |
NA |
NA |
294.186 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
NA |
25.922 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST &
FINANCIAL EXPENSES (D) |
NA |
NA |
0.905 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
30.447 |
20.066 |
25.017 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.845 |
3.936 |
3.274 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
26.602 |
16.130 |
21.743 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
9.222 |
5.450 |
7.765 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
17.380 |
10.680 |
13.978 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
78.545 |
74.599 |
60.621 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
1.068 |
0.000 |
|
|
|
Interim Dividend |
0.000 |
4.875 |
0.000 |
|
|
|
Tax on Dividend |
0.000 |
0.791 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
95.925 |
78.545 |
74.599 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods on FOB basis |
38.047 |
16.595 |
76.253 |
|
|
TOTAL EARNINGS |
38.047 |
16.595 |
76.253 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
26.74 |
16.43 |
21.50 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA
|
NA |
4.37 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.98
|
4.25 |
6.93 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.84
|
10.72 |
14.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.19 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.29
|
0.02 |
0.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33
|
1.70 |
1.63 |
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 |
6.500 |
6.500 |
6.500 |
|
Reserves & Surplus |
74.599 |
79.614 |
96.994 |
|
Net worth |
81.099 |
86.114 |
103.494 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
6.781 |
1.569 |
29.555 |
|
Total borrowings |
6.781 |
1.569 |
29.555 |
|
Debt/Equity ratio |
0.084 |
0.018 |
0.286 |
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 |
313.729 |
379.317 |
668.455 |
|
|
|
20.906 |
76.226 |
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 |
313.729 |
379.317 |
668.455 |
|
Profit |
13.978 |
10.680 |
17.380 |
|
|
4.46% |
2.82% |
2.60% |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
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 ss |
|
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 |
10423328 |
24/04/2013 |
2,164,100.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
B74260159 |
|
2 |
90094497 |
31/12/2013 * |
120,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
B93858504 |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Deposits |
|
|
|
Loans and Advances from Related Parties |
1.644 |
1.305 |
|
Total
|
1.644 |
1.305 |
Notes:
Deposit from Related
Parties
i) Deposit from Related Parties carry interest rate @ 11.50%
p.a. and are having maturity within 12 months from the date of Balance Sheet.
Note:
The registered office of the company has been shifted from 9, Second Floor, Ravi Kiran Complex, Valiya Chowadi, GIDC, Ankleshwar –
393 002, Gujarat to the present address w.e.f. 17.01.2007.
REVIEW OF OPERATIONS AND FUTURE PROSPECTS
The turnover of the Company increased from Rs.379.317 millions to Rs.668.455 millions registering a growth of 76.23% over previous year. The Board is confident of continuing with the strong growth path that the Company has embarked on.
FIXED ASSETS:
· Land
· Building
· Furniture and Fixtures
· Plant and Equipments
· Office Equipments
· Computer
· Vehicles
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.61.12 |
|
UK Pound |
1 |
Rs.102.71 |
|
Euro |
1 |
Rs.84.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
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 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
50 |
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.