MIRA
INFORM REPORT
|
Report Date : |
05.08.2014 |
IDENTIFICATION DETAILS
|
UNITED RUBBER
INDUSTRIES ( |
|
|
|
|
|
Registered
Office : |
13, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
23.04.2004 |
|
|
|
|
Com. Reg. No.: |
11-145901 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.15.285
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25100MH2004PTC145901 |
|
|
|
|
IEC No.: |
0388012641 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMU00654D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACU6911F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Rubber Products. |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (22) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating takes into consideration the delays by the company in
servicing its debt obligation. However, business is active. Payment terms are reported to be slow. The company can be considered for business dealings on a secured 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
NEWS
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the share goes up further in the
coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive anti-corruption
drive. Chanos believes that many things such as apartment sales, luxury
products, etc. were largely bought with dirty money. And it is now beginning to
impact consumption. This may indeed be bad news for an economy that is
struggling to transition from an investment-driven export-oriented economy to a
domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20%! Equities came in second with annualized
return of 15.5%! However, while these returns may seem mouthwatering, the fact
is that the return from equities adjusted for inflation came down to just 7.1
%.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs.10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long Term Loans: C |
|
Rating Explanation |
Very high risk of default. |
|
Date |
July, 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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. D’Souza |
|
Designation : |
General Manager - HR Department |
|
Contact No.: |
91-22-28145134 |
|
Date : |
04.08.2014 |
LOCATIONS
|
Registered Office : |
13, Ashiana Towers, I.C. Colony, Borivali (West), Mumbai – 400 013, Maharashtra,
India |
|
Tel. No.: |
91-22-28143724 |
|
Fax No.: |
91-22-28184614 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Head Office/ Factory/ Warehouse : |
Jay Vailankani Industrial Estate, Behind Gas Godown, Bhayandar Kashi
Mira Road, Bhayandar (East), Thane – 401 105, Maharashtra, India |
|
Tel No.: |
91-22-28145134/ 35/ 36 |
|
|
|
|
Overseas Office : |
United Rubber LLC 380, Mountain Rd, Suite 1413, Union City, New Jersey 07087 USA |
|
Tel. No.: |
+1 646 403 9867 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Bellairu Ajith Bellairu Muthanna Rai |
|
Designation : |
Director |
|
Address : |
13, Ashiana Towers, I.C. Colony, Borivali (West), Mumbai – 400 103,
Maharashtra, India |
|
Date of Birth/Age : |
10.04.1947 |
|
Date of Appointment : |
23.04.2004 |
|
DIN No.: |
02162054 |
|
|
|
|
Name : |
Mrs. Yashoda Ajit Rai |
|
Designation : |
Director |
|
Address : |
13, Ashiana Towers, I.C. Colony, Borivali (West), Mumbai – 400 103,
Maharashtra, India |
|
Date of Birth/Age : |
15.09.1957 |
|
Date of Appointment : |
23.04.2004 |
|
DIN No.: |
02602217 |
KEY EXECUTIVES
|
Name : |
Mr. D’Souza |
|
Designation : |
General Manager - HR Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
Note:
Shareholding details file attached.
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
94.85 |
|
Other
top fifty shareholders |
|
5.15 |
|
Total |
|
100.00 |
%20PRIVATE%20LIMITED%20-%20279910%2005-Aug-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Rubber Products. |
|
|
|
|
Exports : |
|
|
Products : |
·
Finished Goods |
|
Countries : |
·
USA ·
Middle East ·
Asian Countries ·
UK ·
Switzerland ·
Sri Lanka, etc. |
|
|
|
|
Imports : |
|
|
Products : |
·
Raw Materials |
|
Countries : |
·
USA ·
Japan ·
China ·
Korea |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011):
|
Particulars |
Actual
Production [Quantity/Units] |
|
Hoses |
3896486 |
|
Molded Items |
409467 |
|
Metal to Rubber |
328904 |
|
O Rings/Gaskets |
2186 |
|
Extruded Strips |
150642 |
GENERAL INFORMATION
|
Customers : |
·
Alstom Power Systems ·
Arkay Industries ·
Auto Sport Engineering ·
Bombay Automobiles ·
British Seals and Rubber Mouldings Limited ·
Clayton ·
Dodson Autospares Limited ·
Essar Steel Limited ·
Force Motors Limited – Pithampur ·
KGS Engineering Limited ·
LG Motorsports ·
Mahindra and Mahindra Hyderabad - SPD ·
Mahindra and Mahindra Limited (TD) ·
Tractor Engineers Limited ·
Trident Agencies ·
Unilec Engineers Limited ·
Vijay Sabre Safety Private Limited |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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No. of Employees : |
300 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of India, Commercial Branch Vile Parle,
Shyam Kamal, Trade Centre, Agarwal Market, Vile Parle (East), Mumbai – 400
057, Maharashtra, India ·
Bank of Maharashtra, Kailash Kutir, Plot B, Off
L.T. Road, Maharashtra Nagar, Borivali (West), Mumbai – 400 092, Maharashtra,
India ·
Small Industries Development Bank of India, 11-13, Atlanta Building,
209, First Floor, V.K. Shah Marg, Nariman Point, Mumbai – 400 021,
Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Majibail and Company Chartered Accountants |
|
Address : |
7, Nachiketa, 106, J.P. Road, Andheri (West), Mumbai – 400 058,
Maharashtra, India |
|
Tel. No.: |
91-22-26778437/ 26778439 |
|
PAN No: |
AABPR9915Q |
CAPITAL STRUCTURE
AFTER 30.09.2013
Authorised Capital : Rs.25.000 millions
Issued, Subscribed & Paid-up Capital : Rs.15.813
millions
AS ON 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 |
|
1528550 |
Equity Shares |
Rs.10/- each
|
Rs.15.285
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 |
15.285 |
14.536 |
13.911 |
|
(b) Reserves & Surplus |
102.377 |
80.898 |
61.758 |
|
(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) |
117.662 |
95.434 |
75.669 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) Long-term
borrowings |
63.303 |
70.248 |
50.414 |
|
(b) Deferred tax liabilities (Net) |
7.753 |
7.753 |
7.029 |
|
(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) |
71.056 |
78.001 |
57.443 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
164.475 |
118.472 |
89.881 |
|
(b)
Trade payables |
90.686 |
119.839 |
78.303 |
|
(c)
Other current liabilities |
9.013 |
7.117 |
5.623 |
|
(d) Short-term
provisions |
5.645 |
4.559 |
4.090 |
|
Total Current
Liabilities (4) |
269.819 |
249.987 |
177.897 |
|
|
|
|
|
|
TOTAL |
458.537 |
423.422 |
311.009 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
143.513 |
111.089 |
84.735 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
143.513 |
111.089 |
84.735 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
81.783 |
70.141 |
75.253 |
|
(c)
Trade receivables |
211.701 |
209.663 |
127.373 |
|
(d) Cash
and cash equivalents |
0.128 |
0.243 |
0.199 |
|
(e)
Short-term loans and advances |
20.325 |
32.020 |
23.397 |
|
(f)
Other current assets |
1.087 |
0.266 |
0.052 |
|
Total
Current Assets |
315.024 |
312.333 |
226.274 |
|
|
|
|
|
|
TOTAL |
458.537 |
423.422 |
311.009 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
552.570 |
510.739 |
433.635 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
552.570 |
510.739 |
433.635 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
518.155 |
483.947 |
409.437 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
518.155 |
483.947 |
409.437 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
34.415 |
26.792 |
24.198 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
14.127 |
10.433 |
8.830 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
20.288 |
16.359 |
15.368 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.059 |
1.595 |
2.601 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
16.229 |
14.764 |
12.767 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
122.219 |
115.969 |
84.972 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
10.62 |
10.15 |
9.17 |
|
%20PRIVATE%20LIMITED%20-%20279910%2005-Aug-2014_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20279910%2005-Aug-2014_files/image004.gif){kind=small}
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
600.000 |
The above information has been parted by Mr. D’Souza (General Manager – HR
Department).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.94 |
2.89
|
2.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.42 |
3.86
|
4.94 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.17
|
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.94 |
1.97
|
1.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17 |
1.25
|
1.27 |
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 |
13.911 |
14.536 |
15.285 |
|
Reserves & Surplus |
61.758 |
80.898 |
102.377 |
|
Net worth |
75.669 |
95.434 |
117.662 |
|
|
|
|
|
|
Long-term borrowings |
50.414 |
70.248 |
63.303 |
|
Short term borrowings |
89.881 |
118.472 |
164.475 |
|
Total borrowings |
140.295 |
188.720 |
227.778 |
|
Debt/Equity ratio |
1.854 |
1.977 |
1.936 |
%20PRIVATE%20LIMITED%20-%20279910%2005-Aug-2014_files/image006.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
433.635 |
510.739 |
552.570 |
|
|
|
17.781 |
8.190 |
%20PRIVATE%20LIMITED%20-%20279910%2005-Aug-2014_files/image008.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
433.635 |
510.739 |
552.570 |
|
Profit |
12.767 |
14.764 |
16.229 |
|
|
2.94% |
2.89% |
2.94% |
%20PRIVATE%20LIMITED%20-%20279910%2005-Aug-2014_files/image010.gif)
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
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 |
No |
|
17] |
Major suppliers |
No |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10275913 |
21/06/2011 * |
3,400,000.00 |
SMALL INDUSTRIES
DEVELOPMENT BANK OF INDIA |
11-13, ATLANTA BUILDING, 209,
FIRST FLOOR, V.K. SHAH MARG, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021,
INDIA |
B16000762 |
|
2 |
10278227 |
28/03/2014 * |
274,800,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH VILE
PARLE, SHYAM KAMAL, TRADE CENTRE, AGARWAL MARKET, VILE PARLE (EAST), MUMBAI, |
C05479837 |
|
3 |
10223361 |
10/06/2010 |
1,650,000.00 |
SMALL INDUSTRIES
DEVELOPMENT BANK OF INDIA |
11-13, ATLANTA BUILDING,
209, VINAY K SHAH MARG, |
A86927688 |
|
4 |
10192854 |
31/12/2009 |
3,050,000.00 |
RELIGARE FINVEST LIMITED |
19, NEHRU PLACE, NEW
DELHI, DELHI - 110019, INDIA |
A75633594 |
|
5 |
10126094 |
16/09/2008 |
10,000,000.00 |
STATE BANK OF INDORE |
5, Y. N. ROAD, INDORE, MADHYA
PRADESH - 454775, INDIA |
A47975669 |
|
6 |
10092464 |
21/02/2008 |
3,500,000.00 |
SMALL INDUSTRIES
DEVELOPMENT BANK OF INDIA |
11-13, ATLANTA, 1ST
FLOOR, 209, V.K. SHAH MARG, NARIMAN POINT, MUMBAI-400 021, MUMBAI,
MAHARASHTRA - 400021, INDIA |
A34446849 |
|
7 |
10077476 |
15/11/2007 |
1,440,000.00 |
SMALL INDUSTRIES
DEVELOPMENT BANK OF INDIA |
11-13, ATLANTA, 1ST
FLOOR, 209, V.K. SHAH MARG, NARIMAN POINT, MUMBAI-400 021, MUMBAI,
MAHARASHTRA - 400021, INDIA |
A27902931 |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Shriram City Union Finance Limited |
1.271 |
1.450 |
|
Loans From Friends and Relatives |
0.600 |
10.000 |
|
Adarsh Associates |
1.350 |
1.500 |
|
Bliss Enterprise |
0.900 |
1.000 |
|
Finvest Corporation |
0.000 |
0.750 |
|
Miracle Enterprise |
0.000 |
0.500 |
|
HDFC Bank |
1.852 |
2.737 |
|
Bajaj Finserve |
0.208 |
0.923 |
|
Directors Loan A/c |
2.771 |
6.041 |
|
Total |
8.952 |
24.901 |
OPERATIONS:
During the period
ended 31st March 2013, the company registered a total income of
Rs.552.570 millions. The export turnover was Rs.122.219 millions in the Ninth year
of entering the international markets. The company is making good progress in
international markets and expects to make a turnover of Rs.150.000 millions in
the coming year.
FIXED ASSETS:
·
Goodwill
·
Factory Premises
·
Building
·
Plant and Machinery
·
Mould and Dies
·
Computer
·
Electric Installation
·
Office Equipments
·
Lab Equipments
·
Furniture and Fixtures
·
Motor Car
·
Tempo
·
Land
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.61.02 |
|
|
1 |
Rs.102.69 |
|
Euro |
1 |
Rs.81.91 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
- |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
22 |
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.