MIRA INFORM REPORT
|
Report Date : |
14.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
PYRAMID TIMBER ASSOCIATES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Sy No. 193/2 and 194, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
29.10.1987 |
|
|
|
|
Com. Reg. No.: |
08-008701 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 9.975 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U02001KA1987PTC008701 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the manufacturer of Veneers, Panel Doors, Door and
Window Frames, Window Shutters and Frames, etc. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 260000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Profit of the company has declined during financial year 2013.
External borrowing of the company has increased over previous year. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The concern can be considered for business dealing with some 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) |
|
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
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. 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 tat 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 fund based limits: “B+” |
|
Rating Explanation |
Risk prone credit quality and very high credit risk. |
|
Date |
July 2014 |
|
|
|
|
Rating Agency Name |
ICRA |
|
Rating |
Short term non fund based limits: “A4” |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
July 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 DENIED
|
Name : |
Mr. Bhaskar |
|
Designation : |
Accountant |
|
Contact No.: |
91-821-2403284 |
|
Date : |
12.08.2014 |
LOCATIONS
|
Registered Office : |
Sy No. 193/2 and 194, Mysore – Hunsur Road, Yelwal (PO) Mysore – 571130,
Karnataka, India |
|
Tel. No.: |
91-821-2403284 / 3285 / 3286 / 2023 |
|
Fax No.: |
91-821-2402622 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Europe Office : |
Woodlink, RCS Honfleur 481234391 – Siret, Grandouet 14340 Cambremer,
France |
|
Tel. No.: |
33 231 624 250 |
DIRECTORS
As on: 27.09.2013
|
Name : |
Mr. Abbas Salehbhai Vagh |
|
Designation : |
Director |
|
Address : |
8/A Mahajana, High School Road, Jayalakshmi Puram, Mysore - 570012, Karnataka, India |
|
Date of Appointment : |
27.12.1990 |
|
DIN No.: |
00001605 |
|
|
|
|
Name : |
Mr. Mohammedbhai Taherbhai Vagh |
|
Designation : |
Whole-time director |
|
Address : |
No. 291, I Cross, 4th Main, Jayalakshmi Puram, Mysore - 570012, Karnataka, India |
|
Date of Appointment : |
05.11.1987 |
|
DIN No.: |
00001606 |
|
|
|
|
Name : |
Mr. Abbas Taher Bhai Vagh |
|
Designation : |
Director |
|
Address : |
14, Cherian Road, Ram Nagar, Coimbatore - 641009, Tamil Nadu, India |
|
Date of Appointment : |
18.03.1990 |
|
DIN No.: |
00001941 |
|
|
|
|
Name : |
Mr. Abdul Hussain Saifuddinbhai Vagh |
|
Designation : |
Director |
|
Address : |
84, 6th Main, Jayalakshmi Puram, Mysore - 570012, Karnataka, India |
|
Date of Appointment : |
27.12.1987 |
|
DIN No.: |
00001948 |
|
|
|
|
Name : |
Mr. Moiz Saifuddin Vagh |
|
Designation : |
Director |
|
Address : |
Hunsur Plywood Works Private Limited, P.B. No. 2, Hunsur, Mysore - 571105, Karnataka, India |
|
Date of Appointment : |
27.12.1987 |
|
DIN No.: |
00003579 |
|
|
|
|
Name : |
Mr. Tyeb Salehbhai Vagh |
|
Designation : |
Director |
|
Address : |
90-91 1st Floor, Sri N R Road, Bangalore - 560002, Karnataka, India |
|
Date of Appointment : |
18.03.1990 |
|
DIN No.: |
00022663 |
|
|
|
|
Name : |
Mr. Yusuf Hussain Vagh |
|
Designation : |
Director |
|
Address : |
3-43/134, Mohammedi Enclave, Wellington Road, Aoc Center, Marredpally (West), Secundrabad - 500026, Andhra Pradesh, India |
|
Date of Birth/Age : |
18.09.1974 |
|
Date of Appointment : |
28.09.2011 |
|
DIN No.: |
05127624 |
KEY EXECUTIVES
|
Name : |
Mr. Bhaskar |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 27.09.2013
SHAREHOLDERS DETAILS FILE ATTACHED.
Equity Share Break up (Percentage of Total Equity)
As on: 27.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacturer of Veneers, Panel Doors, Door and
Window Frames, Window Shutters and Frames, etc. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
Union Bank of India, 47D/47E, Mannar's Complex, Ashoka Road, Mysore - 570001, Karnataka, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
VKS Aiyer and Company Chartered Accountants |
|
Address : |
Mecheri Manor, No 2, S.R. Iyer Layout, Near Air, Trichy Road,
Coimbatore – 641045, Tamil Nadu, India |
|
PAN No.: |
AACFV1533H |
|
|
|
|
Associates : |
· Hunsur Plywood Works Private Limited · The Decorative Laminates (India) Private Limited · Ferro Foundries Private Limited · M.A.S. Furniture Private Limited · Ahmedally and Company Private Limited ·
TMA Vagh Investments Private Limited |
|
|
|
|
Partnership Firms: |
· Plymould · Mulla Abdul Hussain Sons · IES Agencies ·
Industrial Engineering Stores |
CAPITAL STRUCTURE
As on: 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
10000 |
Preference Share |
Rs.100/- each |
Rs. 1.000 Million |
|
|
Total |
|
Rs. 11.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
997511 |
Equity Shares |
Rs.10/- each |
Rs. 9.975
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 |
9.975 |
9.975 |
9.975 |
|
(b) Reserves & Surplus |
55.101 |
50.908 |
45.858 |
|
(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) |
65.076 |
60.883 |
55.833 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
26.801 |
25.220 |
35.980 |
|
(b) Deferred tax liabilities (Net) |
1.417 |
1.476 |
1.805 |
|
(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) |
28.218 |
26.696 |
37.785 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
22.629 |
22.317 |
24.978 |
|
(b)
Trade payables |
33.554 |
22.571 |
25.633 |
|
(c) Other
current liabilities |
109.509 |
96.161 |
14.417 |
|
(d) Short-term
provisions |
1.739 |
1.159 |
1.159 |
|
Total Current
Liabilities (4) |
167.431 |
142.208 |
66.187 |
|
|
|
|
|
|
TOTAL |
260.725 |
229.787 |
159.805 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
50.673 |
47.061 |
47.080 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.306 |
2.117 |
0.088 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
3.531 |
0.011 |
0.011 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.903 |
1.016 |
0.978 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
55.413 |
50.205 |
48.157 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
96.686 |
78.480 |
57.285 |
|
(c) Trade
receivables |
33.724 |
32.414 |
44.852 |
|
(d) Cash
and cash equivalents |
36.693 |
28.372 |
2.962 |
|
(e)
Short-term loans and advances |
37.602 |
38.810 |
6.340 |
|
(f)
Other current assets |
0.607 |
1.506 |
0.209 |
|
Total
Current Assets |
205.312 |
179.582 |
111.648 |
|
|
|
|
|
|
TOTAL |
260.725 |
229.787 |
159.805 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
153.559 |
118.668 |
123.898 |
|
|
|
Other Income |
4.906 |
3.036 |
1.332 |
|
|
|
TOTAL (A) |
158.465 |
121.704 |
125.230 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
92.110 |
77.071 |
69.900 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
0.131 |
(12.508) |
6.260 |
|
|
|
Employees benefits expense |
16.302 |
11.947 |
9.690 |
|
|
|
Other expenses |
27.533 |
27.416 |
21.415 |
|
|
|
Exceptional Items |
0.001 |
(3.786)
|
0.000 |
|
|
|
TOTAL (B) |
136.077 |
100.140 |
107.265 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
22.388 |
21.564 |
17.965 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.526 |
7.237 |
5.678 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
15.862 |
14.327 |
12.287 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.985 |
6.931 |
6.835 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
8.877 |
7.396 |
5.452 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.946 |
1.187 |
1.736 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5.931 |
6.209 |
3.716 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
34.108 |
29.058 |
26.501 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend |
1.496 |
0.997 |
0.997 |
|
|
|
Tax on Dividend |
0.243 |
0.162 |
0.162 |
|
|
BALANCE CARRIED
TO THE B/S |
38.300 |
34.108 |
29.058 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.95 |
6.22 |
3.73 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.74 |
5.10 |
2.97 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.78 |
6.23 |
4.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.46 |
3.25 |
3.41 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.12 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.76 |
0.78 |
1.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23 |
1.26 |
1.69 |
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 |
9.975 |
9.975 |
9.975 |
|
Reserves & Surplus |
45.858 |
50.908 |
55.101 |
|
Net worth |
55.833 |
60.883 |
65.076 |
|
|
|
|
|
|
long-term borrowings |
35.980 |
25.220 |
26.801 |
|
Short term borrowings |
24.978 |
22.317 |
22.629 |
|
Total borrowings |
60.958 |
47.537 |
49.430 |
|
Debt/Equity ratio |
1.092 |
0.781 |
0.760 |
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 |
123.898 |
118.668 |
153.559 |
|
|
|
(4.221) |
29.402 |
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 |
123.898 |
118.668 |
153.559 |
|
Profit |
3.716 |
6.209 |
5.931 |
|
|
3.00% |
5.23% |
3.86% |
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 |
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 |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
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
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and Advances from related parties |
11.360 |
12.587 |
|
Long term maturities of Finance Lease Obligation |
0.133 |
0.479 |
|
|
|
|
|
Total |
11.493 |
13.066 |
CASE DETAILS
|
High Court of Karnataka - Principal Bench at Bangalore |
|
RFA 1709/2011 |
|
Petitioner/Appnt.
Name (Click) |
National Insurance Company Limited |
||
|
Respondent/Defnt.
Name |
M/S Pyramid Timber Associates Private Limited |
||
|
Petnr./Appnt.
Advocate |
Lexplexus and C M Poonacha |
||
|
Respnt./Defnt.
Advocate |
C K Nandakumar, |
||
|
Date Filed |
30/09/2011 |
Classification: |
MON |
|
District |
Mysore |
||
|
Stage |
PENDING FOR ADMISSON |
Last Posted for |
ORDERS |
|
Last Action Taken |
ADJOURNED |
Last Date of
Action |
24/06/2014 |
|
Next hearing date |
|
|
|
|
Latest Order: |
1 WK TO DO N/F |
|
|
|
Before Hon'ble
Judge/s |
K.L.MANJUNATH |
|
|
|
|
RAVI MALIMATH |
|
|
Index of Charges
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90192909 |
17/02/2005 * |
15,000,000.00 |
UNION BANK OF INDIA |
MYSORE BRANCH, 47D/47E; MANNAR'S COMPLEX ASHOKA ROAD, MYSORE, KARNATAKA - 570001, INDIA |
- |
|
2 |
90192888 |
17/08/2013 * |
201,600,000.00 |
UNION BANK OF INDIA |
47D/47E, MANNARS COMPLEX, ASHOKA ROAD, MYSORE, KARNATAKA - 570001, INDIA |
B87029732 |
|
3 |
90192881 |
13/10/2004 |
35,500,000.00 |
UNION BANK OF INDIA |
MYSORE BRANCH, 47D/47E, MYSORE, TAMIL NADU - 570001, INDIA |
- |
|
4 |
90192821 |
30/03/2004 |
10,000,000.00 |
UNION BANK OF INDIA |
MYSORE BRANCH, ASHOKA ROAD, MYSORE, KARNATAKA - 570001, INDIA |
- |
|
5 |
90192195 |
29/12/2000 * |
31,000,000.00 |
CANARA BANK |
MYSORE MAIN BRANCH, PATHANGE TOWERS, MYSORE, TAMIL NADU - 570001, INDIA |
- |
|
6 |
90191854 |
28/01/2005 * |
62,500,000.00 |
ICICI BANK LIMITED |
TRICHY ROAD, COIMBATORE, TAMIL NADU, INDIA |
- |
* Date of charge modification
FIXED ASSETS
· Plant and Machinery
· Computer and Printer
· Office Equipments
· Tools and Spares
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. 61.25 |
|
|
1 |
Rs. 103.01 |
|
Euro |
1 |
Rs. 81.90 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
32 |
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.