MIRA
INFORM REPORT
|
Report Date : |
04.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
CONCAST ( |
|
|
|
|
Registered
Office : |
47 – 48, Jolly Maker Chamber II, 4th Floor, Nariman Point,
Mumbai - 400021, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
23.03.1973 |
|
|
|
|
Com. Reg. No.: |
11-016413 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 9.883 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29290MH1973PLC016413 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC10638F/ MUMC11801G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC1759M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of design, engineering, supply,
supervision of erection and commissioning of continuous casting machines and
other allied steel plant equipment. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Profitability of the company seems to be decent. General financial
position of the company seems to be sound and healthy. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered for business dealings at usual trade
terms and condition. |
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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India
committee has recommended setting up a special category of lenders who would
cater to small businesses and households, to expand the number of customers
with access to banking services. These banks would focus onproviding payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled
later in Parliament along with the full Budget. A full Budget for 2014/15 is
likely to be present in July by the new government formed after the General
Election. The government will soon launch an internet spy system, called Netra,
to detect malafide messages. Security agency will deploy the system to capture
dubious voice traffic on applications such as Skype and Google Talk, as well as
tweeters.
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
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Vijay Kundan |
|
Designation : |
Account Manager |
|
Contact No.: |
91-9820699298 |
|
Date : |
03.02.2014 |
LOCATIONS
|
Registered Office : |
47 – 48, Jolly Maker Chamber II, 4th Floor, Nariman Point,
Mumbai - 400021, Maharashtra, India |
|
Tel. No.: |
91-22-22027430 / 22020414 |
|
Mobile No.: |
91-9820699298 (Mr. Vijay Kundan) |
|
Fax No.: |
91-22-22850480 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office / Factory: |
Concast House, 1/5, Marol Co-Operative Industrial Estate, Off Sir M
Vasanji Road, Marol, Andheri (East), Mumbai 400 059, Maharashtra, India |
|
Tel. No.: |
91-22-67142228/ 28501789/ 28506845/ 67142222 |
|
Fax No.: |
91-22-28515145 |
|
E-Mail : |
|
|
|
|
|
Delhi Office: |
Sagar Deep, Plot No. 11, 3rd Floor, LSC Saini Enclave, Vikas Marg, New
Delhi – 110092, Delhi, India |
|
Tel No.: |
91-11-22373916/22370778 |
|
|
|
|
Kolkata Office: |
153/A, VIP Road, 2nd Floor, Kolkata – 700054, West Bengal, India |
|
Tel No.: |
91-33-23559214 / 23552062 |
DIRECTORS
As on: 26.07.2013
|
Name : |
Mr. Narinder Kumar Nayar |
|
Designation : |
Chairman and Managing director |
|
Address : |
9-10, Fair Haven, 29, Don Gersi Road, Malabar Hill, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
24.08.1936 |
|
Qualification : |
B.A., M.B.S.A. |
|
Date of Appointment : |
05.04.1973 |
|
PAN No.: |
AACPN0098F |
|
Voter ID : |
MT/04/024/171276 |
|
DIN No.: |
00080183 |
|
|
|
|
Name : |
Mr. John Mathai Kadapuram |
|
Designation : |
Director – President |
|
Address : |
Flat No. 12, Newnarmada, Plot 24-A, Sector-14, Vashi, Navi Mumbai – 400705,
Maharashtra, India |
|
Date of Birth/Age : |
07.03.1946 |
|
Qualification : |
B.Sc., AMIE, Chartered Engineer |
|
Date of Appointment : |
08.08.1995 |
|
Pan No.: |
AADPK2463J |
|
Voter ID : |
MT/10/054/161359 |
|
DIN No.: |
00076925 |
|
|
|
|
Name : |
Mr. Peter William Hills |
|
Designation : |
Director |
|
Address : |
62, Casablanca Apartments, Cuffe Parade, Colaba, Mumbai – 400005,
Maharashtra, India |
|
Date of Birth/Age : |
31.05.1944 |
|
Date of Appointment : |
07.12.2004 |
|
DIN No.: |
00077791 |
|
|
|
|
Name : |
Mr. Narottam Das Mangal Das Desai |
|
Designation : |
Director |
|
Address : |
9 – A, Brighton No. 2, 68, L J A G Mohandas Marg, Mumbai – 400026,
Maharashtra, India |
|
Date of Birth/Age : |
25.03.1924 |
|
Date of Appointment : |
08.08.1995 |
|
Voter ID : |
MT/04/024/129447 |
|
DIN No.: |
00369030 |
|
|
|
|
Name : |
Ms. Dina Suntook Nayar |
|
Designation : |
Director – Business Development |
|
Address : |
9 – 10, Fair Haven, 29, Don Gersi Road, Malabar Hill, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
22.02.1939 |
|
Qualification : |
Graduate from Ashridge College U.K. |
|
Date of Appointment : |
07.12.2004 |
|
PAN No.: |
AACPN0097L |
|
DIN No.: |
00080309 |
|
|
|
|
Name : |
Ms. Shireen Kaikobad Mistry |
|
Designation : |
Director |
|
Address : |
Sethna Building 29-A, Naoroji Seth Street, Mumbai – 400022,
Maharashtra, India |
|
Date of Birth/Age : |
28.06.1966 |
|
Date of Appointment : |
07.12.2004 |
|
PAN No.: |
AACPM2491B |
|
DIN No.: |
00211323 |
KEY EXECUTIVES
|
Name : |
Dinyar Eruch Edulji |
|
Designation : |
Company Secretary |
|
Address : |
19/ 6 Panthaky Baug, Andheri (East), Mumbai – 400069, Maharashtra,
India |
|
Date of Birth/Age : |
10.08.1951 |
|
Date of Appointment : |
01.04.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 26.07.2013
|
Names of Shareholders |
|
No. of Shares |
|
Niyash K. Mistry |
|
60 |
|
Narinder Kumar Nayar |
|
90 |
|
Narinder Kumar Nayar |
|
56310 |
|
Sarosh Nayar |
|
9450 |
|
Shireen Mistry |
|
9900 |
|
Dina Nayar |
|
1080 |
|
Concast Environment Technologies Private Limited, India |
|
195 |
|
Janus Consultants Private
Limited, India |
|
19500 |
|
Dina Nayar |
|
2250 |
|
|
|
|
|
Total |
|
98835 |
Equity Share Break up (Percentage of Total Equity)
As on: 26.07.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
19.93 |
|
Directors or relatives of directors |
|
80.07 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of design, engineering, supply,
supervision of erection and commissioning of continuous casting machines and
other allied steel plant equipment. |
||||
|
|
|
||||
|
Products : |
Ø Contracts Completed/Supplies Ø Designs and Drawings Ø Service Charges Ø Billet Caster Ø Bloom Casters Ø Slab Casters Ø
Round Casters
|
PRODUCTION STATUS AS ON (31.03.2011)
a) Licensed capacity: Not Applicable
b) Installed Capacity: No installed
capacity has yet been established as it is difficult to assess until the jobs
on hand are completed. (This has not been verified by the auditors as this is a
technical matter).
c) Sales and production:
Since the Company is accounting contract revenue on proportionate completion
method, the quantitative details with respect to sales and production have not
been furnished.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Canara Bank, Tamarind Lane Branch, 8/10, Calcot House, Tamarind Lane, Mumbai - 400023, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
12, Dr. Annie Besant Road, Opposite Shiv Sagar Estate, Worli, Mumbai –
400018, Maharashtra, India |
|
PAN No.: |
AABFD7919A |
|
|
|
|
Associate: |
·
Concast Environment Technologies Private Limited,
India CIN: U74200MH1986PTC040846 ·
Janus Consultants Private Limited, India CIN: U74210MH1985PTC036109 |
|
|
|
|
Subsidiary company: |
·
IRD Mechanalysis Limited, India [CIN: U67120MH1962PLC012283] |
CAPITAL STRUCTURE
As on: 26.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
98835 |
Equity Shares |
Rs.100/- each |
Rs. 9.883
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
9.883 |
9.883 |
9.883 |
|
(b) Reserves & Surplus |
276.350 |
719.107 |
650.660 |
|
(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) |
286.233 |
728.990 |
660.543 |
|
|
|
|
|
|
(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 |
8.136 |
16.615 |
|
(d) long-term
provisions |
20.753 |
13.179 |
0.000 |
|
Total Non-current
Liabilities (3) |
20.753 |
21.315 |
16.615 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
305.658 |
185.957 |
255.422 |
|
(c) Other
current liabilities |
228.952 |
216.238 |
179.281 |
|
(d) Short-term
provisions |
11.375 |
52.074 |
38.721 |
|
Total Current
Liabilities (4) |
545.985 |
454.269 |
473.424 |
|
|
|
|
|
|
TOTAL |
852.971 |
1204.574 |
1150.582 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
9.301 |
53.700 |
55.221 |
|
(ii)
Intangible Assets |
1.571 |
1.384 |
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 |
263.003 |
173.917 |
|
(c) Deferred tax
assets (net) |
10.267 |
3.580 |
2.215 |
|
(d) Long-term Loan and Advances |
96.635 |
136.497 |
123.819 |
|
(e) Other
Non-current assets |
0.000 |
51.885 |
85.561 |
|
Total Non-Current
Assets |
117.774 |
510.049 |
440.733 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
81.471 |
76.562 |
93.327 |
|
(c)
Trade receivables |
360.039 |
222.442 |
203.202 |
|
(d) Cash
and cash equivalents |
209.562 |
354.352 |
369.833 |
|
(e)
Short-term loans and advances |
63.928 |
17.102 |
21.757 |
|
(f)
Other current assets |
20.197 |
24.067 |
21.730 |
|
Total
Current Assets |
735.197 |
694.525 |
709.849 |
|
|
|
|
|
|
TOTAL |
852.971 |
1204.574 |
1150.582 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1731.991 |
1383.925 |
1525.598 |
|
|
|
Other Income |
36.019 |
4.101 |
5.883 |
|
|
|
TOTAL (A) |
1768.010 |
1388.026 |
1531.481 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1281.547 |
965.184 |
1068.019 |
|
|
|
Employee benefit expense |
157.669 |
112.915 |
92.701 |
|
|
|
Expenditure on production, transportation and other expenditure
pertaining to E and P activities |
0.000 |
0.000 |
19.044 |
|
|
|
Other expenses |
157.768 |
145.151 |
138.058 |
|
|
|
TOTAL (B) |
1596.984 |
1223.250 |
1317.822 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
171.026 |
164.776 |
213.659 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
171.026 |
164.776 |
213.059 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.442 |
4.446 |
3.629 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
166.584 |
160.330 |
209.430 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
53.664 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
166.584 |
160.330 |
155.766 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
647.932 |
488.180 |
488.180 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
492.000 |
14.000 |
16.000 |
|
|
|
Interim Dividend |
0.988 |
19.767 |
9.884 |
|
|
|
Proposed Dividend |
0.000 |
39.534 |
19.767 |
|
|
|
Dividend Distribution Tax |
0.168 |
9.620 |
4.810 |
|
|
BALANCE CARRIED
TO THE B/S |
271.875 |
647.932 |
593.485 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
|
|
296.614 |
|
|
|
Agency commission |
|
|
5.184 |
|
|
|
Gain on foreign exchange (net) |
|
NA |
2.202 |
|
|
|
Reimbursement of travelling expenses |
|
|
1.022 |
|
|
|
Reimbursement of freight charges |
|
|
3.164 |
|
|
|
Professional services fees |
NA |
|
0.093 |
|
|
|
Reimbursement of insurance charges |
|
|
0.038 |
|
|
|
Interest received |
|
|
1.518 |
|
|
|
Erection and commissioning fees |
|
|
22.175 |
|
|
|
Miscellaneous income |
|
|
0.051 |
|
|
|
Design and engineering fees |
|
|
0.000 |
|
|
TOTAL EARNINGS |
NA |
NA |
332.061 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw materials, components and spares |
NA |
NA |
27.852 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
1685.48 |
1072.16 |
1378.21 |
|
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%20LIMITED%20-%20252696%2004-Feb-2014_files/image002.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
9.42 |
11.56 |
10.18 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.61 |
11.59 |
13.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.77 |
17.09 |
21.49 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.58 |
0.21 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35 |
1.52 |
1.50 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
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 |
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] |
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 |
Yes |
|
34] |
External Agency Rating, if available |
No |
Note: No Charges Exist for Company
FIXED ASSETS
·
Buildings
·
Plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Motor vehicles
·
Office equipment
·
Computer 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. 62.69 |
|
|
1 |
Rs. 102.97 |
|
Euro |
1 |
Rs. 84.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.