MIRA
INFORM REPORT
|
Report Date : |
28.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
MADHAV ALLOYS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Talwara Roadmandi Gobindgarh, District Fatehgarh Sahib, Punjab –
147301, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.06.2003 |
|
|
|
|
Com. Reg. No.: |
16-026123 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.23.554 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27104PB2003PTC026123 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PTLM12974D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCM6458N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of TMT Bars and Steel Structure Products. |
|
|
|
|
No. of Employees
: |
700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. There is a dip in profit of the company in the year 2013. However,
overall financial position of the company is decent. Rating also takes into account experience and resourcefulness of
promoters and consistent track record of operation. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for business dealing at usual trade
terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
NEWS
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the 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 |
CARE |
|
Rating |
Long Term Bank Facilities: BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
21.02.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities: A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
21.02.2014 |
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 PARTED BY
|
Name : |
Mr. Manish Jain |
|
Designation : |
Executive Director |
|
Contact No.: |
91-9501077995 |
|
Date : |
27.08.2014 |
LOCATIONS
|
Registered Office : |
Talwara Roadmandi Gobindgarh, District Fatehgarh Sahib, Punjab –
147301, Punjab, India |
|
Tel. No.: |
91-1785-241420 91-1765-507507 |
|
Mobile No.: |
91-9501077995 (Mr. Manish Jain) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
SMS Division, Village Akalgarh Bhadson Road, Near Toll Plazza,
District Patiala – 147101, Punjab, India |
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Munish Goyal |
|
Designation : |
Director |
|
Address : |
109, Civil Lines, Passi Road, Patiala, Punjab, India |
|
Date of Appointment : |
17.05.2010 |
|
PAN No.: |
ABCPK2808F |
|
DIN No.: |
00338144 |
|
|
|
|
Name : |
Mr. Sudhir Goyal |
|
Designation : |
Director |
|
Address : |
House No.117/118, Near Khanna City, Bullepur, Khanna – 141401, Punjab,
India |
|
Date of Appointment : |
17.05.2010 |
|
PAN No.: |
ACVPG2970Q |
|
DIN No.: |
00361549 |
|
|
|
|
Name : |
Mr. Sanjeev Kumar |
|
Designation : |
Director |
|
Address : |
Ward No.5, Shashtri Nagar, Mandi Gobindgarh, Punjab, India |
|
Date of Appointment : |
17.05.2010 |
|
PAN No.: |
ABCPK6376Q |
|
DIN No.: |
00366882 |
|
|
|
|
Name : |
Ms. Minu Goyal |
|
Designation : |
Director |
|
Address : |
109, Civil Lines, Passi Road, Patiala, Punjab, India |
|
Date of Birth/Age : |
23.02.1970 |
|
Date of Appointment : |
01.04.2012 |
|
PAN No.: |
AAVPG3557H |
|
DIN No.: |
00371323 |
|
|
|
|
Name : |
Mr. Manish Jain |
|
Designation : |
Executive Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Name of
Shareholders |
|
No of
Shares |
|
|
|
|
|
Dev Dutt Engineers Private Limited, India |
|
10010 |
|
Goyal Structure (Private) Limited, India |
|
10 |
|
Krypton Datamatics Limited, India |
|
290000 |
|
Madhav Trade Link Private Limited, India |
|
450010 |
|
Madhav Udyog Private Limited, India |
|
10 |
|
Madhav Stelco Private Limited, India |
|
26665 |
|
Dev Dutt Goyal |
|
380100 |
|
Munish Goyal |
|
355019 |
|
Abha Jindal |
|
10 |
|
Manish Jain |
|
10 |
|
Minu Goyal |
|
10 |
|
Minu Jain |
|
10 |
|
Munish Goyal (HUF) |
|
10 |
|
Himanshu Gupta |
|
10 |
|
Sudhir Goyal |
|
270843 |
|
Kalu ram Goyal |
|
250000 |
|
Sanjeev Kumar |
|
219266 |
|
Kalu Ram Goyal (HUF) |
|
10 |
|
Purshotam Dass Jindal (HUF) |
|
10 |
|
Rajesh Jindal (HUF) |
|
10 |
|
Roopali Jindal |
|
10 |
|
Sanjeev Goyal (HUF) |
|
10 |
|
Santosh Rani Jindal |
|
10 |
|
Sudhir Goyal (HUF) |
|
10 |
|
Fizza Plastics Private Limited, India |
|
103315 |
|
|
|
|
|
Total |
|
2355378 |
AS ON 01.10.2013
|
Name of
Allottees |
|
No of Shares
Allotted |
|
|
|
|
|
Fizza Plastics Private Limited, India |
|
23660 |
|
|
|
|
|
Total |
|
23660 |
AS ON 04.02.2014
|
Name of
Allottees |
|
No of Shares
Allotted |
|
|
|
|
|
Fizza Plastics Private Limited, India |
|
9660 |
|
|
|
|
|
Total |
|
9660 |
AS ON 30.09.2013
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies Corporate |
|
37.36 |
|
Directors or relatives of directors |
|
62.64 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of TMT Bars and Steel Structure Products. |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
· South Africa · Dubai · UAE · Singapore |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Advance Payment, L/C, Cheque and Credit |
|
|
|
|
Purchasing : |
Cash, Advance Payment, L/C, Cheque and Credit |
GENERAL INFORMATION
|
Suppliers : |
· Steel Authority of India · Risheek Global Pte Limited, Singapore |
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Customers : |
Wholesalers, Retailers and End Users · KEC International Limited, Jaipur · Man Structure Private Limited, Jaipur |
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No. of Employees : |
700 (Approximately) |
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Bankers : |
· State Bank of India Mandi Gobindgarh, District Fatehgarh Sahib, Mandi Gobindgarh – 147301, Punjab, India · Oriental Bank of Commerce Mandi Gobindgarh, Mandi Gobindgarh – 147301, Punjab, India |
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Facilities : |
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Goyal Mahajan and Associates Chartered Accountants |
|
Address : |
SCO – 50, 1st Floor, Lila Bhawan, |
|
PAN No.: |
AAAFG7375A |
CAPITAL STRUCTURE
AFTER 30.09.2013
Authorised Capital: Rs.30.000
Millions
Issued, Subscribed & Paid-up Capital: Rs.25.196 Millions
AS ON 30.09.2013
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2388698 |
Equity Shares |
Rs.10/- each |
Rs.23.887
Millions |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2355378 |
Equity Shares |
Rs.10/- each |
Rs.23.554
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 |
23.554 |
23.087 |
22.250 |
|
(b) Reserves & Surplus |
547.292 |
462.614 |
292.722 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
10.000 |
|
Total
Shareholders’ Funds (1)+(2) |
570.846 |
485.701 |
324.972 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
658.536 |
602.014 |
118.138 |
|
(b) Deferred tax liabilities (Net) |
32.237 |
22.249 |
3.003 |
|
(c) Other long term liabilities |
0.050 |
0.025 |
0.000 |
|
(d) long-term provisions |
2.710 |
0.779 |
0.506 |
|
Total Non-current Liabilities (3) |
693.533 |
625.067 |
121.647 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
405.487 |
314.593 |
205.115 |
|
(b) Trade payables |
268.809 |
145.609 |
142.767 |
|
(c) Other current
liabilities |
178.515 |
52.847 |
31.090 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.245 |
|
Total Current Liabilities (4) |
852.811 |
513.049 |
379.217 |
|
|
|
|
|
|
TOTAL |
2,117.190 |
1,623.817 |
825.836 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
754.013 |
711.459 |
98.619 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
29.104 |
16.177 |
9.063 |
|
(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 |
52.410 |
65.716 |
48.022 |
|
(e) Other Non-current assets |
0.452 |
0.552 |
0.552 |
|
Total Non-Current Assets |
835.979 |
793.904 |
156.256 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
895.639 |
525.380 |
452.761 |
|
(c) Trade receivables |
158.833 |
108.216 |
105.500 |
|
(d) Cash and cash
equivalents |
98.348 |
49.837 |
25.046 |
|
(e) Short-term loans and
advances |
123.268 |
142.080 |
85.755 |
|
(f) Other current assets |
5.123 |
4.400 |
0.518 |
|
Total Current Assets |
1,281.211 |
829.913 |
669.580 |
|
|
|
|
|
|
TOTAL |
2,117.190 |
1,623.817 |
825.836 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
7277.479 |
3577.176 |
2904.698 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
7251.936 |
3512.795 |
2854.225 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
25.543 |
64.381 |
50.473 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
10.374 |
19.247 |
16.924 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
15.169 |
45.134 |
33.549 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2694.048 |
46.294 |
NA |
|
|
|
Stores & Spares |
2.390 |
0.000 |
NA |
|
|
TOTAL IMPORTS |
2696.438 |
46.294 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.44 |
19.55 |
15.08 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
10000.000 |
Expected Sales (2014-15): Rs.15000.000 Millions
The above information has been parted by Mr. Manish Jain.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.21
|
1.26 |
1.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.22
|
4.00 |
6.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.13 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.86
|
1.89 |
0.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.50
|
1.62 |
1.77 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
22.250 |
23.087 |
23.554 |
|
Reserves & Surplus |
292.722 |
462.614 |
547.292 |
|
Share Application Money
Pending Allotment |
10.000 |
0.000 |
0.000 |
|
Net worth |
324.972 |
485.701 |
570.846 |
|
|
|
|
|
|
long-term borrowings |
118.138 |
602.014 |
658.536 |
|
Short term borrowings |
205.115 |
314.593 |
405.487 |
|
Total borrowings |
323.253 |
916.607 |
1064.023 |
|
Debt/Equity ratio |
0.995 |
1.887 |
1.864 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
2904.698 |
3577.176 |
7277.479 |
|
|
|
23.151 |
103.442 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
2904.698 |
3577.176 |
7277.479 |
|
Profit |
33.549 |
45.134 |
15.169 |
|
|
1.15% |
1.26% |
0.21% |
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 four 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) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm / promoter
involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
FINANCIAL PERFORMANCE
The Company has achieved
sales and other misc. income of Rs.7277.479 Millions as compared to the previous
year of Rs.3577.176 Millions and earned profits of Rs.25.543 Millions as
compared to profit of Rs.64.381 Millions in the previous year. After making
adjustments/ providing provision for income tax, accumulated profits for the
year of Rs.15.169 Millions are being placed under reserves and surplus account
of the Balance Sheet as at 31.03.2013.
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10470958 |
30/12/2013 |
196,000,000.00 |
Oriental Bank of Commerce |
Mandi Gobindgarh, Mandi
Gobindgarh, Punjab - 147301, India |
B93805760 |
|
2 |
10344753 |
09/03/2012 |
1,194,500,000.00 |
State Bank of India |
Mandi Gobindgarh, Distt. Fatehgarh
Sahib, Mandi Gobindgarh, Punjab - 147301, India |
B35955392 |
|
3 |
10299367 |
15/12/2011 * |
1,147,000,000.00 |
State Bank of India |
Mandi Gobindgarh, Distt.
Fatehgarh Sahib, Mandi Gobindgarh, Punjab - 147301, India |
B29858446 |
|
4 |
10068410 |
23/02/2012 * |
587,500,000.00 |
Oriental Bank of Commerce |
Mandi Gobindgarh, Mandi
Gobindgarh, Punjab - 147301, India |
B35762491 |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Building
·
Office Building
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Motor Vehicles
·
Office Equipment
·
Computer
·
Other 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 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.60.47 |
|
|
1 |
Rs.100.15 |
|
Euro |
1 |
Rs.79.65 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.