MIRA
INFORM REPORT
|
Report Date : |
07.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
ENESTEE ENGINEERING LIMITED [w.e.f. 24.03.2010] |
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Formerly Known
As : |
ENESTEE ENGINEERING PRIVATE LIMITED |
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Registered
Office : |
2nd Floor, Thapar Enclave II, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
14.03.2005 |
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Com. Reg. No.: |
11-151952 |
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Capital
Investment / Paid-up Capital : |
Rs.82.321 Millions |
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CIN No.: [Company Identification
No.] |
U74210MH2005PLC151952 |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Engineering Components. |
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No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The company possesses a moderate financial profile marked by small
size of operations and huge albeit incremental gearing along with weak debt coverage
indicators. Management has reported an increase in its net profitability during FY
13. Trade relations seem to be fair.
Business is active. Payment terms are reported as slow but correct. In view of experienced and qualified promoters, the subject can be
considered for business dealings with caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
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 their share goes up further
in the coming 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
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
.
. Ukrain’s clashes with rebels hinder MH17 crash investigation
.
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in
. 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 |
CARE |
|
Rating |
Long terms bank facilities: BB+ |
|
Rating Explanation |
Moderate risk of default regarding timely servicing of debt
obligations. |
|
Date |
03.06.2014 |
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Rating Agency Name |
CARE |
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Rating |
Short terms bank facilities: A4+ |
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Rating Explanation |
Minimal degree of safety and very high credit risk. |
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Date |
03.06.2014 |
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 DECLINED
MANAGEMENT NON – COOPERATIVE (91-712-6658555)
LOCATIONS
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Registered Office : |
2nd Floor, Thapar Enclave II, |
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Tel. No.: |
91-7104-237977 / 237586 / 237592 / 321537 / 322212 91-712-6658555 |
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Fax No.: |
91-7104-237594 / 95 |
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E-Mail : |
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Website : |
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Factory : |
KH No. 18A/1 and 18B/3, Mouza Chichbhawan, Kalmeshwar, District |
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Tel No.: |
91-7118-660217 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Sandeep Madhu Nair |
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Designation : |
Managing Director |
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Address : |
Plot No. 158, OM Manson Farmland, Ramdaspeht, |
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Date of Birth/Age : |
14.04.1983 |
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Date of Appointment : |
01.04.2010 |
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Din No.: |
01736716 |
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PAN No.: |
ACXPN6247K |
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Other Directorship:
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Name : |
Mrs. Chitra Madhu Nair |
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Designation : |
Director |
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Address : |
Plot No. 158, OM Manson Farmland, Ramdaspeht, |
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Date of Birth/Age : |
13.07.1959 |
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Date of Appointment : |
14.03.2005 |
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Din No.: |
01737755 |
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PAN No.: |
ACXPN7820N |
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Other Directorship:
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Name : |
Mr. Madhu Kandunni Nair |
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Designation : |
Managing Director |
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Address : |
Plot No. 158, OM Manson Farmland, Ramdaspeht, |
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Date of Birth/Age : |
27.09.1954 |
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Date of Appointment : |
15.03.2010 |
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Din No.: |
00263080 |
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PAN No.: |
AARPN0154H |
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Other Directorship:
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Name : |
Mr. Subramanaim Thyagaraja |
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Designation : |
Director |
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Address : |
C-8519, Pocket -8, Vasant Kunj, |
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Date of Birth/Age : |
27.09.1954 |
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Date of Appointment : |
01.08.2008 |
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Din No.: |
02253478 |
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Name : |
Mr. Rajesh Prakash Dattar |
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Designation : |
Director |
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Address : |
4/6, Faras, Chhindwara Road, Nagpur, 440030, Maharashtra, India |
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Date of Birth/Age : |
27.09.1954 |
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Date of Appointment : |
07.11.2007 |
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Din No.: |
01710740 |
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PAN No.: |
AAXPD3197J |
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Other Directorship:
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Name : |
Mr. Sudheer Kongot |
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Designation : |
Director |
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Address : |
17/607-4, Nishchint., Kallekkad, Behind Civil Station, Palakkad – 678001, Kerala, India |
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Date of Appointment : |
30.09.2013 |
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Din No.: |
06671908 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Sandeep Madhu Nair |
|
1374000 |
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Chitra Madhu Nair |
|
663333 |
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Sharpe Anthoni Mark |
|
171200 |
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Madhu Kandunni Nair |
|
2540337 |
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Aparna Madhu Nair |
|
1375700 |
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Rajesh Prakash Dattar |
|
546667 |
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Vighnesh Infratech Private Limited, India |
|
145000 |
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Oxide Tie-up Private Limited, India |
|
889473 |
|
Prithvi Dealers Private Limited, India |
|
74561 |
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Shruti Vinimay Private Limited, India |
|
451754 |
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Rajesh Datar |
|
3 |
|
Hema Menon |
|
10 |
|
Indus Udyog |
|
10 |
|
Khemka Investment |
|
10 |
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Omprakash G Nevatia |
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10 |
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Shree Enterprises |
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10 |
|
Vijay Mani Menon |
|
10 |
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Total |
|
8232088 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
2.00 |
|
Bodies corporate |
19.00 |
|
Directors or relatives of Directors |
79.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Engineering Components. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Information denied by the management. |
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Bankers : |
· Oriental Bank of Commerce, National Insurance Building, Station Road, Kingsway, Nagpur-440001, Maharashtra, India · The United Western Bank Limited, Sitabuldi Branch, Sanskritik Sankul Jhanshi Rani, Square , Sitabuldi, Nagpur - 440012, Maharashtra, India · Kotak Mahindra Bank Limited, 6-38a, Nariman Bhavan, 227,D, Nariman Point, Mumbai - 400021, Maharashtra, India · Industrial Development Bank of India Limited, City Sme Centre, 01st Floor, Sanskrutik Sankul, Rani Jhasi Square, Sitabuldi,, Nagpur - 440012, Maharashtra, India |
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Facilities : |
-- |
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Banking
Relations : |
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Auditors : |
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Name : |
Lalit Jham and Company Chartered Accountants |
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Address : |
60-B 2nd Floor, Wholesale Cloth Market Gandhibagh, Nagpur – 440002, Maharashtra, India |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AAEFL3762C |
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Associates: |
· Maatu Industrial Services · Bhasin Datar ·
Vighnesh Infratech Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8232088 |
Equity Shares |
Rs.10/- each |
Rs. 82.321
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
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|
I.
EQUITY AND LIABILITIES |
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|
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|
(1)Shareholders' Funds |
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|
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(a) Share Capital |
82.321 |
82.321 |
81.268 |
|
(b) Reserves & Surplus |
159.389 |
132.587 |
123.788 |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
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|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
241.710 |
214.908 |
205.056 |
|
|
|
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|
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(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
323.930 |
280.381 |
178.815 |
|
(b) Deferred tax liabilities
(Net) |
25.172 |
19.718 |
8.679 |
|
(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) |
349.102 |
300.099 |
187.494 |
|
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|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
291.198 |
308.791 |
252.190 |
|
(b) Trade payables |
263.235 |
243.402 |
102.185 |
|
(c) Other current liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Short-term provisions |
1.023 |
3.022 |
0.080 |
|
Total
Current Liabilities (4) |
555.456 |
555.215 |
354.455 |
|
|
|
|
|
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TOTAL |
1146.268 |
1070.222 |
747.005 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
447.158 |
318.612 |
331.096 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
45.897 |
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 |
13.584 |
14.229 |
14.296 |
|
(e) Other Non-current assets |
5.397 |
2.306 |
0.407 |
|
Total
Non-Current Assets |
466.139 |
381.044 |
345.799 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
386.512 |
318.425 |
195.741 |
|
(c) Trade receivables |
171.940 |
225.342 |
171.220 |
|
(d) Cash and cash equivalents |
39.145 |
63.634 |
12.442 |
|
(e) Short-term loans and
advances |
82.081 |
81.306 |
21.311 |
|
(f) Other current assets |
0.451 |
0.471 |
0.492 |
|
Total
Current Assets |
680.129 |
689.178 |
401.206 |
|
|
|
|
|
|
TOTAL |
1146.268 |
1070.222 |
747.005 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
1278.749 |
1191.981 |
876.326 |
|
|
Other Income |
11.043 |
37.555 |
2.525 |
|
|
TOTAL
(A) |
1289.792 |
1229.536 |
878.851 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1056.300 |
1107.373 |
722.164 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(23.403) |
(97.736) |
(48.317) |
|
|
Employees benefits expense |
31.423 |
31.665 |
28.259 |
|
|
Other expenses |
119.404 |
108.237 |
124.993 |
|
|
TOTAL
(B) |
1183.724 |
1149.539 |
827.099 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
106.068 |
79.997 |
51.752 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
59.832 |
49.369 |
21.956 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
46.236 |
30.628 |
29.796 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
15.193 |
11.924 |
7.768 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
31.043 |
18.704 |
22.028 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
6.546 |
14.853 |
2.928 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
24.497 |
3.851 |
19.100 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
3.77 |
2.28 |
3.10 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.90 |
0.31 |
2.17 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.43 |
1.57 |
2.51 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.71 |
1.83 |
2.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.09 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.54 |
2.74 |
2.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22 |
1.24 |
1.13 |
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 |
81.268 |
82.321 |
82.321 |
|
Reserves & Surplus |
123.788 |
132.587 |
159.389 |
|
Net
worth |
205.056 |
214.908 |
241.710 |
|
|
|
|
|
|
long-term borrowings |
178.815 |
280.381 |
323.930 |
|
Short term borrowings |
252.190 |
308.791 |
291.198 |
|
Total
borrowings |
431.005 |
589.172 |
615.128 |
|
Debt/Equity
ratio |
2.102 |
2.742 |
2.545 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
876.326 |
1191.981 |
1278.749 |
|
|
|
36.020 |
7.279 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
876.326 |
1191.981 |
1278.749 |
|
Profit |
19.100 |
3.851 |
24.497 |
|
|
2.18% |
0.32% |
1.92% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Rupee term loans from banks |
1.508 |
2.449 |
|
Rupee term loans from others |
150.836 |
100.239 |
|
Short-term borrowings |
|
|
|
Loans and advances from others |
17.201 |
40.047 |
|
Total |
169.545 |
142.735 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10500520 |
24/03/2014 |
1,550,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V. B. GANDHI MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
C05414594 |
|
2 |
10500521 |
24/03/2014 |
1,550,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V. B. GANDHI MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
C05415906 |
|
3 |
10445560 |
07/08/2013 |
4,520,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN
BHAVAN, 227,D,, NARIMAN POINT,, M |
B83305557 |
|
4 |
10305792 |
01/10/2012 * |
667,500,000.00 |
ORIENTAL BANK OF COMMERCE |
KINGWAY BRANCH,
NATIONAL INSURANCE BUILDING, STAT |
B59441337 |
|
5 |
10306005 |
31/05/2014 * |
800,000,000.00 |
ORIENTAL BANK OF COMMERCE |
KINGWAY BRANCH, NATIONAL INSURANCE BUILDING, STATION ROAD, NAGPUR, MAHARASHTRA - 440001, INDIA |
C09538281 |
|
6 |
10305794 |
24/08/2011 |
15,200,000.00 |
ORIENTAL BANK OF COMMERCE |
KINGWAY BRANCH, NATIONAL INSURANCE BUILDING, STATION ROAD, NAGPUR, MAHARASHTRA - 440001, INDIA |
B20319380 |
|
7 |
10305927 |
24/08/2011 |
49,100,000.00 |
ORIENTAL BANK OF COMMERCE |
KINGWAY BRANCH, NATIONAL INSURANCE BUILDING, STATION ROAD, NAGPUR, MAHARASHTRA - 440001, INDIA |
B20382081 |
|
8 |
10305835 |
24/08/2011 |
133,200,000.00 |
ORIENTAL BANK OF COMMERCE |
KINGWAY BRANCH, NATIONAL INSURANCE BUILDING, STATION ROAD, NAGPUR, MAHARASHTRA - 440001, INDIA |
B20338448 |
|
9 |
10305592 |
12/08/2011 |
5,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN
BHAVAN, 227,D, NARIMAN POINT, M |
B20226619 |
|
10 |
10232831 |
30/07/2010 |
1,775,342.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN
BHAVAN, 227,D, NARIMAN POINT, M |
A91014340 |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Computer equipments
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.61.34 |
|
|
1 |
Rs.103.44 |
|
Euro |
1 |
Rs.81.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.