MIRA
INFORM REPORT
|
Report Date : |
27.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
VARDHMAN WHEAT PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E- 121-122, Industrial Growth Centre, Khara, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
21.01.1997 |
|
|
|
|
Com. Reg. No.: |
17-013162 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 6.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15311RJ1997PTC013162 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JDHV00807C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV5801D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Aata, Wheat, Besan, Suji etc. |
|
|
|
|
No. of Employees
: |
65 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 22000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
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|
|
Comments : |
Subject is an established company having moderate track. The company has reported a minimal profit as against a previous year loss,
as a result of which management has gradually wiped off a part of its
accumulated losses during FY 13. However, trade relations are improving. Business is active. Payment
terms are reported as slow but correct. The company can be considered for business dealings 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 |
CRISIL |
|
Rating |
“SE2B” |
|
Rating Explanation |
Moderate financial strength and high performance capability |
|
Date |
June 24, 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. Pankaj |
|
Designation : |
Director |
|
Contact No.: |
91-1522-260151 |
|
Date : |
23.08.2014 |
LOCATIONS
|
Registered Office / Factory : |
E- 121-122, Industrial Growth Centre, Khara, Bikaner – 334006,
Rajasthan, India |
|
Tel. No.: |
91-1522-260151 |
|
Mobile No.: |
91-9414143151 (Mr. Pankaj) |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Vijay Kumar Goyal |
|
Designation : |
Managing Director |
|
Address : |
B-81, Samta Nagar, Bikaner – 334002, Rajasthan, India |
|
Date of Appointment : |
21.01.1997 |
|
DIN No. : |
00238499 |
|
|
|
|
Name : |
Mr. Pankaj Goyal |
|
Designation : |
Director |
|
Address : |
40-45, Residential Industrial Area, Rani Bazar, Bikaner – 334001,
Rajasthan, India |
|
Date of Appointment : |
21.01.1997 |
|
DIN No. : |
00238590 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
Shareholders File Attached
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
0.01 |
|
Directors or relatives of Directors |
90.36 |
|
Other top fifty shareholders |
9.63 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Aata, Wheat, Besan, Suji etc. |
|
|
|
|
Products : |
·
Besan ·
Pulses ·
Sooji ·
Wheat |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30 days) |
GENERAL INFORMATION
|
Suppliers : |
·
H.K. Industrial Corporation ·
Jai Kami Electric works ·
Kami Electric Works ·
Mundhra Ashok and Associates ·
NNS Online Private Limited ·
Om Iron & Engineering and Works ·
Pole Star Magnetics Industries ·
Rajiv Aeron and Company, Bikaner ·
Sarvottam Emery Stones ·
Shakti Engg. Works ·
Shree Ram Eng. Works ·
Baid Abhinav and Company ·
Baid Borar and Company |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Customers : |
·
Agarwal Feed Industries ·
Amrit Enterprises ·
Anil Kumar and Brothers ·
Ashish Traders ·
Bahagwati Traders ·
Bharav Enterprises ·
Bikaner Bardana Store ·
Dalal Krutik Agencies ·
Dhani & Company ·
Darpan Agency ·
Dasmesh Trading Company ·
D.K. Dhingra & Company ·
Durga Sales Corporation ·
Gautam Trading Co. Bikaner ·
Gautam Trading Co. Sri Ganganagar |
|||||||||||||||||||||
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|
|||||||||||||||||||||
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No. of Employees : |
65 (Approximately) |
|||||||||||||||||||||
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Bankers : |
Indian Overseas Bank, Bikaner Branch |
|||||||||||||||||||||
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|
|||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Baid Borar and Company Chartered Accountants |
|
Address : |
Opposite New Anaj Mandi, Shri Ganganagar Road, Bikaner – 334401,
Rajasthan, India |
|
Tel. No.: |
91-151-2250485 / 2250981 / 2231391 |
|
Mobile No.: |
91-9414137391 |
|
E-Mail : |
|
|
PAN No.: |
AAMFB8361N |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
Equity Shares |
Rs.10/- each |
Rs.6.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
Equity Shares |
Rs.10/- each |
Rs.6.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
6.000 |
6.000 |
6.000 |
|
(b) Reserves &
Surplus |
(0.458) |
(1.194) |
(0.763) |
|
(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) |
5.542 |
4.806 |
5.237 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
22.844 |
7.069 |
6.027 |
|
(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) |
22.844 |
7.069 |
6.027 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2.988 |
0.000 |
0.298 |
|
(b) Trade payables |
0.380 |
1.480 |
0.857 |
|
(c) Other current
liabilities |
3.467 |
1.039 |
1.695 |
|
(d) Short-term provisions |
0.094 |
0.000 |
0.160 |
|
Total Current Liabilities
(4) |
6.929 |
2.519 |
3.010 |
|
|
|
|
|
|
TOTAL |
35.315 |
14.394 |
14.274 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
10.329 |
9.666 |
9.823 |
|
(ii) Intangible Assets |
0.028 |
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) |
0.239 |
0.239 |
0.239 |
|
(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 |
10.596 |
9.905 |
10.062 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
18.532 |
0.761 |
0.546 |
|
(c) Trade receivables |
2.826 |
1.379 |
1.612 |
|
(d) Cash and cash
equivalents |
0.939 |
0.337 |
0.059 |
|
(e) Short-term loans and
advances |
2.422 |
2.012 |
1.995 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
24.719 |
4.489 |
4.212 |
|
|
|
|
|
|
TOTAL |
35.315 |
14.394 |
14.274 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
131.638 |
|
|
|
|
Other Income |
0.046 |
0.088 |
|
|
|
TOTAL (A) |
131.684 |
6.526 |
NA |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
120.614 |
|
|
|
|
Purchases of
Stock-in-Trade |
1.844 |
5.937 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(3.817) |
(0.215) |
|
|
|
Employees benefits
expense |
1.276 |
0.035 |
|
|
|
Other expenses |
7.801 |
0.310 |
|
|
|
TOTAL (B) |
127.718 |
6.689 |
NA |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
3.966 |
(0.163) |
NA |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
2.280 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.686 |
(0.201) |
NA |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION
(F) |
0.856 |
0.157 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
0.830 |
(0.358) |
0.137 |
|
|
|
|
|
|
|
Less |
TAX (I) |
0.094 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-I) (J) |
0.736 |
(0.431) |
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD (K) |
(1.193) |
(0.763) |
NA |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S (J+K+L-M) |
(0.457) |
(1.194) |
|
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
1.23 |
0.72 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
260.000 |
|
|
|
|
|
Expected Sales (2014-2015) : Rs. Rs. 300.000 Millions
The above information has been parted by Mr. Pankaj
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
PAT / Total Income |
(%) |
0.56 |
(6.60) |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.63 |
(5.56) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.37 |
(2.53) |
0.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
(0.07) |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.66 |
1.47 |
1.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.57 |
1.78 |
1.40 |
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 |
6.000 |
6.000 |
6.000 |
|
Reserves & Surplus |
(0.763) |
(1.194) |
(0.458) |
|
Net worth |
5.237 |
4.806 |
5.542 |
|
|
|
|
|
|
long-term borrowings |
6.027 |
7.069 |
22.844 |
|
Short term borrowings |
0.298 |
0.000 |
2.988 |
|
Total borrowings |
6.325 |
7.069 |
25.832 |
|
Debt/Equity ratio |
1.208 |
1.471 |
4.661 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
6.438 |
131.638 |
|
|
|
1,944.703 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
6.438 |
131.638 |
|
Profit |
(0.431) |
0.736 |
|
|
(6.69%) |
0.56% |
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 |
Yes |
|
15] |
Capital in
the business |
Yes |
|
16] |
Details of
sister concerns |
No |
|
17] |
Major
suppliers |
Yes |
|
18] |
Major
customers |
Yes |
|
19] |
Payments
terms |
Yes |
|
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 |
No |
|
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 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10470110 |
11/11/2013 |
1,300,000.00 |
INDIAN OVERSEAS BANK |
8 POKAR QUARTERS, CHOPRA KATLA, RANI BAZAR, BIKANER, Rajasthan - 334401, INDIA |
B93454890 |
|
2 |
10423218 |
11/11/2013 * |
22,500,000.00 |
INDIAN OVERSEAS BANK |
8 POKAR QUARTERS, CHOPRA KATLA, RANI BAZAR, BIKANER, Rajasthan - 334401, INDIA |
B93488799 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
From Directors, Shareholders and Relatives |
22.252 |
7.069 |
|
Total |
22.252 |
7.069 |
FIXED ASSETS
·
Free Hold Land
·
Factory Building
·
Plant and Machinery
·
Air Conditioner
·
C.I. Rolls
·
D.G. Sets
·
Electricity Installation
·
EPABX
·
Fire Fighting Instruments
·
Lab Instruments
·
Machinery
·
Mobile Instruments
·
Power Invertor
·
Max Maxxi Truck
·
Weigh Scale
·
CCTV
·
Packing Machine
·
Truck
·
Furniture
·
Motor Cycle
·
Cycle
·
Car (Siesta Classic 1.4D)
·
Computer
News
Wheat declines on increased supply
However, other grains, including rice basmati, moved in a narrow range in limited deals and settled around previous levels.
Traders said increased supplies in the wake of reduced offtake by flour mills mainly kept pressure on wheat prices.
In the national capital, wheat dara (for mills) fell by Rs 15 to Rs 1,495-1,500 per quintal. Atta chakki delivery followed suit and eased to Rs 1,505-1,510 against last close of Rs 1,520-1,530 per 90 kg. Atta flour mills slipped to Rs 810-825 from Rs 815-830 per 50 kg.
Following are today's quotations per quintal: Wheat MP (deshi) 2,160-2,360, Wheat dara (for mills) 1,495-1,500, Chakki atta (delivery) 1,505-1,510, Atta Rajdhani (10 kg) 220, Shakti bhog (10 kg) 220, Roller flour mill 810-825 (50 kg), Maida 830-850 (50 kg) and Sooji 930-950 (50kg).
Government allows
sale of wheat from FCI godowns in open market
Earlier this month, the government has decided to release additional 50 lakh tonnes (LT) of rice to BPL and APL families through public distribution system ( PDS) in those states where food security law is not implemented.
The government will offer wheat for open market sale from central pool, Food Secretary Sudhir Kumar has tweeted.
The open market sale scheme (OMSS) was launched by FCI for sale of wheat from stocks above its buffer limits to the bulk consumers-roller flour mills.
The scheme was launched by FCI with a view to check wheat prices, which may go up during lean season and at the same time it will create storage space for fresh arrival of wheat.
During the year 2013-14, total 95 LT of wheat was allocated for tender sale from godowns of Punjab and Haryana to bulk consumers/small private tenders and 5 LT of wheat was allocated for retail sale to states/UTs/cooperatives.
The reserve price was fixed at Rs 1,500 per quintal. Later the government also allowed other states to sell wheat in the open market after adding freight charges from Ludhiana to concerned state capital, to the fixed base price.
As on July 1st this year, FCI has 398 LT of wheat in its godowns against the buffer norms limit of 201 lakh tonnes.
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 records 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. 60.49 |
|
|
1 |
Rs. 100.32 |
|
Euro |
1 |
Rs. 79.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NON |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.