MIRA
INFORM REPORT
|
Report Date : |
14.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
RISA INTERNATIONAL LIMITED (w.e.f. June
28, 2011) |
|
|
|
|
Formerly Known
As : |
GOVINDJI TRIKAMDAS EXPORTS LIMITED |
|
|
|
|
Registered
Office : |
604, Kushal Point, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
09.03.1993 |
|
|
|
|
Com. Reg. No.: |
11-071062 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.319.001
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L99999MH1993PLC071062 |
|
|
|
|
Legal Form : |
Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject is engaged in trading of fabrics,
it is also involved in real estate and other businesses. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established
company having moderate track record. Reserves of the
company is low. However, performance of the company has improved as it has
performed well and recovered its accumulated losses. Trade relations
are fair. Business is active. Payment terms are slow but correct. The company 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.
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.
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.
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 BY
|
Name : |
Mr. Rajesh |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-65617271 |
|
Date : |
12.08.2014 |
LOCATIONS
|
Registered Office : |
604, Kushal Point, |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
605,
|
|
Tel. No.: |
91-22-23640435/ 5121/ 23696001 |
|
Fax No.: |
91-22-23631684 |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr.
Abhinandan Jain |
|
Designation : |
Whole
Time Director |
|
|
|
|
Name : |
Mr.
Arihant Jain |
|
Designation : |
Executive
Director and Compliance Officer |
|
Date of Birth/ Age : |
20.09.1981 |
|
Qualification : |
B.
Com |
|
Expertise : |
Business
Administration |
|
Directorship : |
Kotsin
Commerce Private Limited |
|
|
|
|
Name : |
Mr.
Shital Mutha |
|
Designation : |
Independent
Director |
|
Date of Birth/ Age : |
06.07.1978 |
|
Qualification : |
Chartered
Accountant |
|
Expertise : |
Taxation,
Capital Markets etc. |
|
Directorship : |
Aagam
Capital Limited |
|
|
|
|
Name : |
Mr.
Vipin Champawat |
|
Designation : |
Independent
Director |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2014
|
Category of Shareholders |
No. of Shares |
% of Holding |
|
(A)
Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
29400 |
0.09 |
|
|
4280719 |
13.42 |
|
|
0 |
0.00 |
|
|
4310119 |
13.51 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
4310119 |
13.51 |
|
(B)
Public Shareholding |
|
|
|
|
|
|
|
|
770 |
0.00 |
|
|
770 |
0.00 |
|
|
|
|
|
|
2989722 |
9.37 |
|
|
|
|
|
|
298580 |
0.94 |
|
|
23009426 |
72.13 |
|
|
1291433 |
4.05 |
|
|
7521 |
0.02 |
|
|
1206160 |
3.78 |
|
|
77752 |
0.24 |
|
|
27589161 |
86.49 |
|
Total
Public shareholding (B) |
27589931 |
86.49 |
|
Total
(A)+(B) |
31900050 |
100.00 |
|
(C)
Shares held by Custodians and against which Depository Receipts have been
issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
31900050 |
0.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal share
capital up to Rs.0.100 million
Shareholding of securities (including shares, warrants, convertible
securities) of persons belonging to the category Promoter and Promoter Group
|
Sl. No. |
Name of the Shareholder |
Details of Shares held |
|
|
No. of Shares held |
As a % of grand total |
||
|
1 |
Kotsin
Ore Private Limited |
4280719 |
13.42 |
|
2 |
Abhinandan
Jain |
29400 |
0.09 |
|
|
Total |
4310119 |
13.51 |
Shareholding of securities (including shares, warrants, convertible
securities) of persons belonging to the category Public and holding more than
1% of the total number of shares
|
Sl. No. |
Name of the Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
|
|
1 |
Manish Gyanchand Mehta |
3493354 |
10.95 |
|
|
2 |
Gyanchand Surajmal Mehta |
1000000 |
3.13 |
|
|
3 |
Shradha Manish Mehta |
1000000 |
3.13 |
|
|
4 |
Hasmukhbhai Manilal Shah |
861245 |
2.70 |
|
|
5 |
Priteshkumar H. Shah |
782020 |
2.45 |
|
|
6 |
Rajesh Kanjibhai Patel |
530975 |
1.66 |
|
|
7 |
Karan Sanjay Shah |
512046 |
1.61 |
|
|
8 |
Suraj Ramesh Parmar |
500000 |
1.57 |
|
|
9 |
Fulwanti Ramesh Parmar |
500000 |
1.57 |
|
|
10 |
Guiness Securities Limited |
440365 |
1.38 |
|
|
11 |
Ramesh Amratlal Brahmbhatt |
435250 |
1.36 |
|
|
12 |
Kiran Darak |
419500 |
1.32 |
|
|
13 |
Chetan Gangadhar Suvarna |
417587 |
1.31 |
|
|
14 |
Nitin Amratlal Brahmbhatt |
417000 |
1.31 |
|
|
15 |
Nitin P Patil |
416007 |
1.30 |
|
|
16 |
Sejal Rajesh Patel |
404914 |
1.27 |
|
|
17 |
Vinod Kumar Darak |
401500 |
1.26 |
|
|
18 |
Pradip B Chopra HUF |
400000 |
1.25 |
|
|
19 |
Asha Sanjay Shah |
369430 |
1.16 |
|
|
20 |
B Lodha Securities Limited |
367363 |
1.15 |
|
|
21 |
Popat Prafulkumar J. |
366475 |
1.15 |
|
|
22 |
Rameshkumar Jayantilal Popat |
363200 |
1.14 |
|
|
23 |
Chander Shekhar Bansal |
355090 |
1.11 |
|
|
24 |
Rajivkumar Gupta |
353206 |
1.11 |
|
|
25 |
Ajay Bansal |
351563 |
1.10 |
|
|
26 |
Sanjeev Kasturi Arora |
349970 |
1.10 |
|
|
27 |
Narinder Kumar Bansal |
335500 |
1.05 |
|
|
28 |
Darshan Kumar Gupta |
329000 |
1.03 |
|
|
|
Total |
16472560 |
51.64 |
Shareholding of securities (including shares, warrants, convertible securities)
of persons (together with PAC) belonging to the category “Public” and holding
more than 5% of the total number of shares of the company
|
Sl. No. |
Name(s) of the shareholder(s) and the Persons Acting in Concert (PAC)
with them |
No. of Shares |
Shares as % of Total No. of Shares |
|
|
1 |
Manish Gayanchand Mehta |
3493354 |
10.95 |
|
|
|
Total |
3493354 |
10.95 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in trading of fabrics,
it is also involved in real estate and other businesses. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management. |
|
|
|
|
Bankers : |
·
Axis Bank Limited ·
Allahabad Bank |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Motilal
and Associates Chartered Accountants |
|
Address : |
Mumbai, |
|
|
|
|
Company in which KMP/Relatives of KMP can exercise significant
influence (As on 31.03.2013) : |
Kotsin
Ore Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.319.001
millions
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
33000000 |
Equity Shares |
Rs.10/- each |
Rs.330.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
31900500 |
Equity Shares |
Rs.10/- each
|
Rs.319.001
millions |
|
|
|
|
|
Reconciliation
of the number of shares and amount outstanding at the beginning and at the end
of the reporting period:
Issued,
subscribed and fully paid up
|
Particulars |
Opening balance |
Fresh Issue |
Reduction of
share capital |
Closing balance |
|
Equity shares with voting rights |
|
|
|
|
|
Year ended 31st March, 2013 |
|
|
|
|
|
-
Number of shares |
5000500 |
31400000 |
(4500450) |
31900050 |
|
-
Amount (Rs. in millions) |
50.005 |
314.000 |
(45.004) |
319.001 |
Details
of shares held by each shareholder holding more than 5% shares:
|
Class
of shares/Name of shareholder |
31.03.2013 |
|
|
Number of shares
held |
%
holding in that class of shares |
|
|
Equity
shares with voting rights |
|
|
|
Manish
Gayanchand Mehta |
5000000 |
15.67 |
|
Kotsin
Ore Private Limited |
4300000 |
13.48 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
319.001 |
319.001 |
50.005 |
|
(b) Reserves & Surplus |
6.396 |
(11.691) |
(56.966) |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
284.000 |
|
Total
Shareholders’ Funds (1) + (2) |
325.397 |
307.310 |
277.039 |
|
|
|
|
|
|
(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 |
8.243 |
6.104 |
3.055 |
|
(b)
Trade payables |
233.463 |
105.481 |
0.162 |
|
(c) Other
current liabilities |
0.072 |
0.095 |
0.001 |
|
(d) Short-term
provisions |
26.476 |
0.330 |
0.000 |
|
Total Current
Liabilities (4) |
268.254 |
112.010 |
3.218 |
|
|
|
|
|
|
TOTAL |
593.651 |
419.320 |
280.257 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
0.049 |
0.000 |
0.000 |
|
(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) |
0.006 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
230.500 |
305.000 |
280.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
230.555 |
305.000 |
280.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
18.546 |
77.566 |
0.000 |
|
(c)
Trade receivables |
314.243 |
31.449 |
0.000 |
|
(d) Cash
and cash equivalents |
8.420 |
3.977 |
0.257 |
|
(e)
Short-term loans and advances |
21.887 |
1.328 |
0.000 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
363.096 |
114.320 |
0.257 |
|
|
|
|
|
|
TOTAL |
593.651 |
419.320 |
280.257 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue
from operations |
1494.194 |
30.754 |
0.000 |
|
|
|
Other Income |
1.849 |
2.178 |
0.000 |
|
|
|
TOTAL (A) |
1496.043 |
32.932 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
1371.342 |
105.440 |
0.000 |
|
|
|
Changes
in inventories of |
59.021 |
(77.566) |
0.000 |
|
|
|
Employee
benefit expense |
2.443 |
0.454 |
0.017 |
|
|
|
Capital
expenditure for Share Capital Increase |
0.000 |
2.319 |
0.000 |
|
|
|
Rent
Expenses |
1.305 |
0.125 |
0.000 |
|
|
|
Other
expenses |
0.796 |
0.702 |
0.497 |
|
|
|
Exceptional
Items |
0.000 |
0.063 |
0.000 |
|
|
|
TOTAL (B) |
1434.907 |
31.537 |
0.514 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
61.136 |
1.395 |
(0.514) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.272 |
0.577 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
54.864 |
0.818 |
(0.514) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.030 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
54.834 |
0.818 |
(0.514) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
18.086 |
0.548 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
36.748 |
0.270 |
(0.514) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.15 |
0.01 |
(0.10) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
2.46 |
0.82 |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.67 |
2.66 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.24 |
0.20 |
(0.18) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.03 |
0.02 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35 |
1.02 |
0.08 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
50.005 |
319.001 |
319.001 |
|
Reserves & Surplus |
-56.966 |
-11.691 |
6.396 |
|
Share Application money pending allotment |
284.000 |
0.000 |
0.000 |
|
Net worth |
277.039 |
307.310 |
325.397 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
3.055 |
6.104 |
8.243 |
|
Total borrowings |
3.055 |
6.104 |
8.243 |
|
Debt/Equity ratio |
0.011 |
0.020 |
0.025 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operations |
0.000 |
30.754 |
1494.194 |
|
|
|
|
4758.535 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR) |
(INR) |
(INR) |
|
Revenue from operations |
0.000 |
30.754 |
1494.194 |
|
Profit |
(0.514) |
0.270 |
36.748 |
|
|
|
0.88% |
2.46% |
LOCAL AGENCY FURTHER INFORMATION
Details of Current Maturities of Long Term
Debt: Not Available
|
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 |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
No |
|
Unsecured Loans |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
SHORT-TERM
BORROWINGS |
|
|
|
Loans repayable on demand |
|
|
|
From
related parties |
NA |
6.105 |
|
Total
|
NA |
6.105 |
Note:
No Charges Exist for Company.
FIXED ASSETS:
·
Plant
and Equipment
·
Furniture
and Fixtures
·
Office
Equipment
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.103.02 |
|
Euro |
1 |
Rs.81.90 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
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.