MIRA
INFORM REPORT
|
Report Date : |
08.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
ACCENT METALS PRIVATE LIMITED [w.e.f.13.03.2002] |
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|
|
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Formerly Known
As : |
COMINCO METAL IMPEX PRIVATE LIMITED |
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Registered
Office : |
F/12, Everest, 7th Floor, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
20.02.1997 |
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Com. Reg. No.: |
11-106005 |
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Capital Investment
/ Paid-up Capital : |
Rs. 25.900 Millions |
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|
|
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CIN No.: [Company Identification
No.] |
U51420MH1997PTC106005 |
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|
|
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IEC No.: |
0303067802 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA18138B |
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|
|
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PAN No.: [Permanent Account No.] |
AAACC6643A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing and Trading of Copper and Copper based Alloy Extruded
Semis and Finished. |
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No. of Employees
: |
141 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The company possesses an acceptable financial profile marked by
comfortable capital structure on account of funding support from its
promoters, along with moderate working capital requirements and debt
protection metrics. Management has witnessed a rapid growth in its revenue base, whereas
has reported a low profit margin due to increase in proportion of trading
sales during FY14. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. The company can be considered for business dealings at usual trade
terms and conditions 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = BB+ |
|
Rating Explanation |
Moderate risk of default regarding timely
servicing of financial obligations. |
|
Date |
September 25, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
September 25, 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. Ravindra Kumar Jha |
|
Designation : |
Senior Finance Manager |
|
Contact No.: |
91-8007840909 |
|
Date : |
05.12.2014 |
LOCATIONS
|
Registered Office : |
F/12, Everest, 7th Floor, |
|
Tel. No.: |
91-22-23520840 |
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Mobile No.: |
91-8007840909 [Mr. Ravindra Kumar Jha] |
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Fax No.: |
91-22-23524085 |
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E-Mail : |
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Area : |
490 Sq. ft. |
|
Location : |
Rented |
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Factory : |
C-46, TTC Industrial Area, MIDC, |
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Tel. No.: |
91-22-27681240 |
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Fax No.: |
91-22-27619601 |
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E-Mail : |
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Area : |
98562 Sq. ft. |
|
Location : |
Leased |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Chetan Suryakant Shrimanker |
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Designation : |
Director |
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Address : |
12, Milan Shopping Centre, M G Road, 3rd Floor, Mumbai –
400086, Maharashtra, India |
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Date of Birth/Age : |
04.07.1961 |
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Date of Appointment : |
20.02.1997 |
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PAN No.: |
AAEPS5507J |
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DIN No.: |
00385238 |
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Other Directorship :
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Name : |
Mr. Rajesh Nandlal Shrimanker |
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Designation : |
Director |
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Address : |
33-35, |
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Date of Birth/Age : |
02.02.1956 |
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Date of Appointment : |
20.02.1997 |
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PAN No.: |
AACPS1669R |
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DIN No.: |
00385376 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Ravindra Kumar Jha |
|
Designation : |
Senior Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Chetan Suryakant
Shrimanker |
|
850000 |
|
Rajesh Nandlal
Shrimanker |
|
600000 |
|
Kalpana Rajesh
Shrimanker |
|
69900 |
|
Devendra
Jashwantrai Shrimanker |
|
300 |
|
Shefali Shrimanker
jointly with Rajesh Nandlal Shrimanker |
|
101900 |
|
Shefali
Shrimanker, jointly with Rajesh Nandlal Shrimanker |
|
101900 |
|
Prakshat Rajesh
Shrimanker |
|
55000 |
|
Juleen Kirit
Malavia |
|
100 |
|
Shefali Shrimanker |
|
15000 |
|
Dishin Chetan
Shrimanker |
|
55900 |
|
Fast Flow Enclave
Makers Private Limited |
|
160000 |
|
Palomino Risk Consulting
Private Limited |
|
130000 |
|
Chetan Shrimanker |
|
150000 |
|
Rajesh Shrimanker |
|
300000 |
|
Total |
|
2590000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Bodies corporate |
11.20 |
|
Directors or relatives of Directors |
88.80 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of Copper and Copper based Alloy Extruded
Semis and Finished. |
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|
|
|
Imports : |
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Products : |
Copper Scrap |
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Countries : |
·
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Trade References
: |
· C.F. Booth Limited Millennium Metals Inc. Premier Metals Recyclers Limited |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
PRODUCTION STATUS
|
Production Capacity |
6000 Tons Annually |
GENERAL INFORMATION
|
Suppliers : |
· Pramanik Metal Corporation Address: Shop No.4,
Anupam Villa, Bail Bazar Marg, Old Kurla, Mumbai – 400070, Tel. No.: 91-22-25033828 · Sha Mulchand Navalram Jain Address: Shop No. 2,
Shree Padamshi Bhuvan, 22, Contact Person: Mr. Dinesh Jain Tel. No.: 91-22-23883024 · J.K. Metal Feeders Address: 23, Ardershir Dady
Contact Person: Mr. Jitendra
Shah Tel. No.: 91-22-23829414 ·
Bharat Insulation Company ( Address: E-7, Waluj
Industrial Area, Tel. No.: 91-22-25823911 · Vagrecha Enterprises Address: 58, Ganesh Krupa
Building, Shop No. 7, Tel. No.: 91-22-66333373 |
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Customers : |
Wholesalers, End Users and Others · Neelay Industries Address: Plot No. D-53,
MIDC, Satpur, Nashik – 422007, Contact Person: Mr. Ramakant Tel. No.: 91-253-2354512 · Dosi Metals Product Private Limited Address: Gala No. 18 and
19, Mulchand Kothari Compound, Rehnal, Bhiwandi, Thane, Contact Person: Mr. Sureshbhai Tel. No.: 91-252-2323568 · S.K. Metal Industries Address: 137/139, Tel. No.: 91-22-23471018 · Mandev Tubes Private Limited Address: Plot No. 269,
GIDC Industrial Estate, Umbergaon, District Valsad – 396171, Contact Person: Mr. Rameshbhai Tel. No.: 91-260-2565132 · Bokedia Metals Address: 68-A, Mobile No.: 91-9323420113 |
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No. of Employees : |
141 (Approximately) |
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Bankers : |
·
Bank of 8A, ·
State Bank of Industrial Finance Branch Mumbai, “The Arcade”, 2nd Floor,
World Trade Centre, Cuffe Parade, Colaba, Mumbai – 400005, · The Karur Vysya Bank Mumbai |
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Facilities : |
Credit Limit = Rs. 277.300 Millions [From State Bank of Credit Limit = Rs. 192.500 Millions [From The Karur Vysya Bank]
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Banking Relations
: |
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Auditors : |
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|
Name : |
Bhupendra Shroff and Company Chartered Accountants |
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Address : |
402, Auto Commerce House, |
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Tel. No.: |
91-22-23868570 |
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Fax No.: |
91-22-23855762 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AAAFR1878D |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
· Nizalco Metals Private Limited [U27200MH1989PTC054040] C-353, TTC Industrial Area, · Chirag Corporation F/12, · Fastflow Enclave Maker Private Limited [U45201WB2004PTC098087] 28, · Mitchell Associates F/12, · Niki Braznco Industries F/12, · Orbit Corporation F/12, |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500000 |
Equity Shares |
Rs. 10/- each |
Rs. 35.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2590000 |
Equity Shares |
Rs. 10/- each |
Rs. 25.900 Millions |
|
|
|
|
|
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 |
25.900 |
17.900 |
17.900 |
|
(b) Reserves & Surplus |
249.482 |
155.647 |
137.188 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
50.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
275.382 |
223.547 |
155.088 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
154.457 |
287.751 |
270.304 |
|
(b) Deferred tax liabilities (Net) |
16.125 |
12.862 |
9.260 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
16.700 |
11.300 |
0.000 |
|
Total Non-current
Liabilities (3) |
187.282 |
311.913 |
279.564 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
244.494 |
151.504 |
153.259 |
|
(b)
Trade payables |
111.399 |
428.641 |
133.458 |
|
(c)
Other current liabilities |
36.174 |
43.998 |
30.471 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
13.737 |
|
Total Current
Liabilities (4) |
392.067 |
624.143 |
330.925 |
|
|
|
|
|
|
TOTAL |
854.731 |
1159.603 |
765.577 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
296.737 |
312.203 |
322.708 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
16.902 |
10.830 |
2.707 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
313.639 |
323.033 |
325.415 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
317.629 |
236.531 |
262.744 |
|
(c)
Trade receivables |
201.530 |
578.422 |
134.731 |
|
(d) Cash
and cash equivalents |
11.560 |
19.089 |
15.245 |
|
(e)
Short-term loans and advances |
10.373 |
2.528 |
27.442 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
541.092 |
836.570 |
440.162 |
|
|
|
|
|
|
TOTAL |
854.731 |
1159.603 |
765.577 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
2125.965 |
1652.100 |
1300.670 |
|
|
|
Other Income |
1.590 |
2.326 |
(0.108) |
|
|
|
TOTAL (A) |
2127.555 |
1654.426 |
1300.562 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
2023.779 |
1479.328 |
1239.565 |
|
|
|
Direct Expenditure |
35.391 |
48.620 |
31.048 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(78.151) |
(12.183) |
(82.717) |
|
|
|
Employees benefits expense |
8.642 |
8.812 |
7.289 |
|
|
|
Other expenses |
7.769 |
10.063 |
8.504 |
|
|
|
TOTAL (B) |
1997.430 |
1534.640 |
1203.689 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
130.125 |
119.786 |
96.873 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
82.945 |
75.483 |
56.342 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
47.180 |
44.303 |
40.531 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
16.682 |
16.392 |
14.991 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
30.498 |
27.911 |
25.540 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
8.663 |
9.452 |
11.930 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
21.835 |
18.459 |
13.610 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.43 |
10.31 |
7.60 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
1.03 |
1.12 |
1.05 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.43 |
1.69 |
1.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.57 |
2.41 |
3.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.12 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.45 |
1.96 |
2.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.38 |
1.34 |
1.33 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
17.900 |
17.900 |
25.900 |
|
Reserves & Surplus |
137.188 |
155.647 |
249.482 |
|
Share Application money pending allotment |
0.000 |
50.000 |
0.000 |
|
Net
worth |
155.088 |
223.547 |
275.382 |
|
|
|
|
|
|
Long-term borrowings |
270.304 |
287.751 |
154.457 |
|
Short term borrowings |
153.259 |
151.504 |
244.494 |
|
Total
borrowings |
423.563 |
439.255 |
398.951 |
|
Debt/Equity ratio |
2.731 |
1.965 |
1.449 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1300.670 |
1652.100 |
2125.965 |
|
|
|
27.019 |
28.683 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1300.670 |
1652.100 |
2125.965 |
|
Profit |
13.610 |
18.459 |
21.835 |
|
|
1.05% |
1.12% |
1.03% |
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 |
Yes |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
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 |
------------------------------------------------------------------------------------------------------------------------------
UNSECURED LOANS
(RS.
IN MILLIONS)
|
UNSECURED LOANS |
31.03.2014 |
31.03.2013 |
|
LONG-TERM BORROWINGS |
|
|
|
Loans from Directors |
0.178 |
0.178 |
|
Loans from Shareholders |
144.198 |
264.953 |
|
Loans from Corporates |
1.515 |
1.438 |
|
Loans from Banks and Financial Institutions |
8.387 |
8.796 |
|
SHORT TERM BORROWINGS |
|
|
|
Overdraft Account Standard Chartered Bank |
0.000 |
1.257 |
|
Loans and advances from related parties |
73.007 |
0.000 |
|
|
|
|
|
Total |
227.285 |
276.622 |
COMPANY
PROFILE
Brief History
The company initially set up an industrial unit for manufacture of copper and copper based extruded semis like bars, tubes profile etc. at Navi Mumbai with cost of project of Rs. 142.500 Millions part financed by SBI by way of Term Loan of Rs. 97.500 Millions which commenced trial production from December 2006.
In December, 2007 the company undertook expansion project with cost of project of Rs. 90.000 Millions part financed by SBI by way of Term Loan of Rs. 50.000 Millions.
During year 2010-11, the company undertook major plant up-gradation program to achieve better optimization and enhanced efficiency.
Initially, the company was financed Working capital limits of Rs. 60.000
Millions consisting of Cash Credit Limit of Rs. 30.000 Millions, Letter of
credit facility of Rs. 25.000 Millions and Bank Guarantee Limits of Rs.500.000
Millions. In year 2006-07 by SBI and as activities of the company increase,
size of working capital finance increased accordingly. In year 2009, Working
Capital Facilities increased to Rs. 225.000 Millions consisting of Cash Credit
limit of Rs. 150.000 Millions, Letter of Credit Facility of Rs. 50.000 Millions
and Bank Guarantee limit of Rs. 25.000 Millions. In December, 2013, SBI
increased CC limit to Rs. 195.000 Millions while LC limits raised to Rs. 65.000
Millions and BG Limit reduced to Rs. 10.000 Millions. In March, 2014, KVB
sanctioned cash credit facility of Rs. 40.000 Millions and LC facility of Rs.
140.000 Millions.
Manufacturing
process in brief
Raw materials like copper, brass, zinc, aluminum, tin etc. are procured
either in the form of cathode / ingot / scrap. The scrap material is sorted,
demagnetized and oil extracted before there are melted in either electrical
induction furnace or oil/gas fired crucible furnace. After checking metal
composition, the metal is degassed, de-oxidized and drossed off. Then metal is
casted into static Cl mould or water cooled mould at proper pouring
temperature. The cast billet are cut into required billet length and heated in
billet heater to the extrusion temperature in the range of 700 C to 1000 C
before it is placed into container with placed die assembly in extrusion
machine to produce desire size of extrusion products with pre-defined speed and
extrusion ratio of required alloy with necessary temperature. Extruded product
is further processed by pointing and pickling before undertaking drawing
process in draw benches or bull blocks through TC draw dies to give final sizes
as per the requirement. The products are cut into length, straightened and
offered for inspection. For tubes and wire intermediate annealing is done.
After quality control checking material is suitably packed either in hessian
cloth or wooden boxes, identified and dispatched as per instructions.
BUSINESS MODEL
Presently out of their total material procurement requirement. About 50%
is imported mainly from
------------------------------------------------------------------------------------------------------------------------------
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10504415 |
05/04/2014 * |
473,900,000.00 |
STATE BANK OF |
INDUSTRIAL FINANCE
BRANCH, ARCADE, 2ND FLOOR, |
C11535796 |
|
2 |
80001706 |
05/04/2014 * |
293,900,000.00 |
STATE BANK OF |
INDUSTRIAL FINANCE
BRANCH, ARCADE, 2ND FLOOR, |
C11535705 |
* Date of charge modification
FIXED ASSETS:
· Land
Building
Plant
and Machinery
Furniture
and Fitting
Laboratory
Equipments
Office
Equipments
Tools
and Dies
Air
Conditioner
Computers
Electrical
Installation
Vehicles
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 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] 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.61.85 |
|
|
1 |
Rs.96.73 |
|
Euro |
1 |
Rs.76.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.