|
Report Date : |
05.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
RAJHANS METALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Gala No 3, Shiley
Industrial Estate, Udyog Nagar, Goregaon (West), Mumbai 400062, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
10.04.1987 |
|
|
|
|
Com. Reg. No.: |
11-043138 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.27.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28910MH1987PTC043138 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR01969C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR5424Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Brass and Copper Alloy Extruded Rods and Extruded
Sections. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 836000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Management
has seen a drastic dip in its sales volume and has incurred a loss due to
which the reserves of the company has been heavily deteriorated during 2013. The ratings also take into consideration the subject’s existence in
the highly competitive industry and susceptibility toward volatility in raw
material prices and fluctuations in foreign currency exchange rate. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. In view of promoter’s vast experience along with the subjects
established track, 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.
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BB – [Long Term Bank Facilities] |
|
Rating Explanation |
Moderate risk of default regarding payments. |
|
Date |
28.12.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A4 [Short Term Bank Facilities] |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
28.12.2013 |
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
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Bharat |
|
Designation : |
Accounts Finance Department |
|
Contact No.: |
91-288-2560111 |
|
Date : |
04.02.2014 |
LOCATIONS
|
Registered Office : |
Gala No 3, Shiley Industrial Estate, Udyog Nagar, Goregaon (West),
Mumbai 400062, Maharashtra, India |
|
Tel. No.: |
91-22-28751713/ 28752280 |
|
Mobile No.: |
91-9824601421 (Mr. Bhavesh) |
|
Fax No.: |
91-22-28743477 |
|
E-Mail : |
sales@rajhans.com (Domestic Sales) exports@rajhans.com
(International Sales) imports@rajhans.com
(Imports/Raw material) info@rajhans.com (Other/General) |
|
Website : |
|
|
Location: |
Owned |
|
|
|
|
Factory : |
21-3, G.I.D.C., Shanker Tekri, Udyognagar, Jamnagar – 361004, Gujarat,
India |
|
Tel. No.: |
91-288-2560111/ 112/ 113 |
|
Fax No.: |
91-288-2560114 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mrs. Jasmin Jayendra Dodhia |
|
Designation : |
Director |
|
Address : |
“Jasmin”, Opposite Jolly Bungalow, Summair Club Road, Jamnagar-361005,
Gujarat |
|
Date of Birth/Age : |
06.05.1972 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
01.04.1994 |
|
PAN No.: |
AFHPS5523C |
|
DIN No.: |
00158746 |
|
|
|
|
Name : |
Mr. Kailashchandra Laxminarayan Mandawewala |
|
Designation : |
Director |
|
Address : |
Flat No.402, Ashutosh Appartment, Nirban Road, Opposite Guruduttatreya
Temple, Jamnagar-361008, Gujarat, India |
|
Date of Birth/Age : |
04.08.1943 |
|
Qualification : |
M. Com |
|
Date of Appointment : |
01.10.1998 |
|
PAN No.: |
AAAPM8385N |
|
DIN No.: |
00660684 |
|
|
|
|
Name : |
Mr. Mohanlal Nemchand Savla |
|
Designation : |
Director |
|
Address : |
B 16, Hindmata Cutpiece Merchants Coop Housing Society , Ambedkar
Road, Tata Mill Compound, Dadar (East), Mumbai-400014, Maharashtra, India |
|
Date of Birth/Age : |
31.01.1939 |
|
Qualification : |
SSC |
|
Date of Appointment : |
01.10.1998 |
|
PAN No.: |
AAOPS5379Q |
|
DIN No.: |
00158758 |
|
|
|
|
Name : |
Mr. Milan Chandulal Dodhia |
|
Designation : |
Director |
|
Address : |
Milan, Opposite Jolly Bungalow, Summair Club Road, Jamnagar – 361005,
India |
|
Date of Birth/Age : |
12.08.1961 |
|
Qualification : |
BBA |
|
Date of Appointment : |
03.04.2007 |
|
PAN No.: |
AAXPD4459M |
|
DIN No.: |
00158730 |
|
|
|
|
Name : |
Mr. Sonilkumar Ramniklal Shah |
|
Designation : |
Director |
|
Address : |
Sonil, Summair Club Road, Jamnagar – 361005, Gujarat, India |
|
Date of Birth/Age : |
09.12.1968 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
01.10.2012 |
|
PAN No.: |
ABOPS5301D |
|
DIN No.: |
00182987 |
KEY EXECUTIVES
|
Name : |
Mr. Bharat |
|
Designation : |
Accounts Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
14.51 |
|
Other
top fifty shareholders |
|
85.49 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Brass and Copper Alloy Extruded Rods and Extruded
Sections. |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Brass Rods |
M.T |
NA |
12150.000 |
7528.410 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
· State Bank of India, Digvijay Plot Branch, Digvijay Police Gate Jamnagar - 361005, Gujarat, India · State Bank of Saurashtra, Digvijay Plot Branch, Jamnagar - 361005, Gujarat, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Pragada Rajnikant Vallabhbhai Chartered Accountants |
|
Address : |
102, Riddhi Siddhi Opposite, Axis Bank Park Colony, Main Road, Jamnagar 361008, Gujarat, India |
|
PAN No: |
ANTPP0162A |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.100/- each |
Rs.30.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
270000 |
Equity Shares |
Rs.100/- each |
Rs.27.000
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 |
27.000 |
5.400 |
5.400 |
|
(b) Reserves & Surplus |
182.049 |
244.156 |
231.576 |
|
(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) |
209.049 |
249.556 |
236.976 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
78.637 |
191.712 |
177.699 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
5.203 |
7.276 |
|
(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) |
78.637 |
196.915 |
184.975 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
408.103 |
339.195 |
327.966 |
|
(b)
Trade payables |
20.546 |
45.673 |
40.684 |
|
(c)
Other current liabilities |
14.628 |
15.000 |
7.149 |
|
(d) Short-term
provisions |
2.877 |
3.118 |
32.960 |
|
Total Current
Liabilities (4) |
446.154 |
402.986 |
408.759 |
|
|
|
|
|
|
TOTAL |
733.840 |
849.457 |
830.710 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
76.065 |
73.435 |
80.510 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
1.604 |
0.356 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.001 |
0.001 |
0.001 |
|
(c) Deferred tax
assets (net) |
14.853 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
17.505 |
16.550 |
10.183 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
110.028 |
90.342 |
90.694 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
233.731 |
238.459 |
270.059 |
|
(c)
Trade receivables |
275.217 |
304.260 |
355.226 |
|
(d) Cash
and cash equivalents |
18.953 |
11.338 |
22.723 |
|
(e)
Short-term loans and advances |
95.911 |
205.058 |
92.008 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
623.812 |
759.115 |
740.016 |
|
|
|
|
|
|
TOTAL |
733.840 |
849.457 |
830.710 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
TOTAL TURNOVER |
1999.219 |
2410.791 |
2297.884 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(46.546) |
26.675 |
114.501 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
14.229 |
15.639 |
18.138 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(60.775) |
11.036 |
96.363 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(19.833) |
(2.180) |
34.919 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(40.942) |
13.216 |
61.444 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
0.000 |
0.540 |
0.540 |
|
|
|
Tax on Dividend |
0.000 |
0.088 |
0.090 |
|
|
BALANCE CARRIED
TO THE B/S |
(40.942) |
(12.588) |
60.814 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
NA |
476.553 |
325.019 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
NA |
NA |
1963.374 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(151.64) |
244.74 |
1137.85 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(8.47)
|
1.30 |
11.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.29)
|
0.04 |
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.33
|
2.13 |
2.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.40
|
1.88 |
1.81 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF LONG TERM DEBT:
NOT AVAILABLE
|
Sr. No. |
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
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] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
INDEX OF CHARGES:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90243806 |
28/02/2005 |
3,600,000.00 |
STATE BANK OF
SAURASHTRA |
DIGVIJAY PLOT
BRANCH, JAMNAGAR, GUJARAT, INDIA |
- |
|
2 |
90226739 |
16/10/2002 * |
2,000,000.00 |
STATE BANK OF
SAURASHTRA |
DIGVIJAY PLOT
BRANCH, JAMNAGAR, GUJARAT, INDIA |
- |
|
3 |
90223247 |
10/05/2001 * |
3,200,000.00 |
STATE BANK OF
SAURASHTRA |
DIGVIJAY PLOT,
JAMNAGAR, GUJARAT, INDIA |
- |
|
4 |
90222924 |
10/05/2001 * |
2,400,000.00 |
STATE BANK OF
SAURASHTRA |
DIGVIJAY PLOT,
JAMNAGAR, GUJARAT, INDIA |
- |
|
5 |
90226610 |
06/07/2010 * |
258,200,000.00 |
STATE BANK OF
INDIA |
DIGVIJAY PLOT
POLICE GATE, DIGVIJAY PLOT, JAMNAGA |
B00109280 |
|
6 |
90225621 |
27/01/2009 * |
70,000,000.00 |
STATE BANK
OFINDIA |
DIGVIJAY PLOT BRANCH,
DIGVIJAY POLICE GATE, JAMNAGAR - 361005, GUJARAT, INDIA |
A56912785 |
|
7 |
90221502 |
28/08/2012 * |
446,100,000.00 |
STATE BANK OF
INDIA |
DIGVIJAY PLOT
BRANCH, DIGVIJAY POLICE GATE, JAMNAGAR - 361005, GUJARAT, INDIA |
B57870925 |
|
* Date of charge modification |
||||||
CHARGES:
|
ENTITY |
PERSON |
COMPETENT
AUTHORITY |
REGULATORY
CHARGES |
REGULATORY
ACTION (S) / DATE OF ORDER |
FURTHER
DEVELOPMENT |
|
RAJHANS METAL PRIVATE LIMITED |
RAJENDRA G. SHAH |
DRT |
DEFAULT OF DUES |
DEMAND NOTICE- RS.1.491 MILLIONS DEBTS RECOVERY TRIBUNAL NO. II, MUMBAI 13.02.2012 |
-- |
|
CASE DETAILS BENCH: BOMBAY LODGING NO.:
EXAL/1692/2012
FILING DATE: 22/102012 REG. NO.:
EXA/655/2013
REG. DATE: 19/08/2013
|
|
Unsecured Loan |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Long Term
Borrowings |
|
|
|
Loans and advances from other |
67.520 |
181.645 |
|
TOTAL
|
67.520 |
181.645 |
OPERATIONS:
Though the total income
was lower compared to previous year steep increase in manufacturing cost
including raw materials and higher provision for Depreciation affected the
profitability of the Company. The total turnover for the year was Rs. 1999.219
Millions as against Rs. 2410.791 Millions last year. Prices of non-ferrous
scrap remained highly volatile throughout the year and the Company was not able
to pass on full impact of price increase due to stiff resistance from buyers.
The performance of wind farms remained encouraging.
FUTURE PROSPECTS:
The Indian economy
is effected due to slow down in U.S.A. and Europe. The industrial production in
general is showing down ward trend since the fourth quarter of the financial
year 2012 2013. Considering the huge demand and vast economy of our country the
revival of economy is imminent. The Company has consolidated its position in
both in domestic and overseas markets and the Company has become a preferred
destination for brass extrusion products. Considering the above your Directors
are optimist to face any challenge and are confident of better future of the
Company.
FINANCE:
The Company has
fulfilled all its commitments to its bankers towards financial facilities
availed. The Company is facing paucity of need based working capital and all
out efforts are made to raise requisite finance from its bankers as well as
from Directors and shareholders.
FIXED ASSETS:
· Land
· Buildings
· Office Building
· Factory Building
· Plant and Equipment
· Factory Equipments
· Furniture and Fixtures
· 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 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.62.68 |
|
|
1 |
Rs.101.97 |
|
Euro |
1 |
Rs.84.78 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.