MIRA
INFORM REPORT
|
Report Date : |
08.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
JAYESH INDUSTRIES LIMITED (w.e.f.27.03.2000) |
|
|
|
|
Formerly Known
As : |
JAYESH INDUSTRIES PRIVATE LIMITED (w.e.f.15.03.2000) AMSON POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
605-609, 6th Floor, Krushal Commercial Complex, Amar Mahal, G M Road,
Chembur (West), Mumbai – 400089, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
27.02.1992 |
|
|
|
|
Com. Reg. No.: |
11-065609 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.8.001
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH1992PLC065609 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMJ06478D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCA2870M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing,
Exporting, Importing, Processing, Marketing and Supplying of Ferro-Alloys,
Non-Ferrous Metals, Minerals and Chemicals.
|
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (17) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The company has incurred a loss during 2013. The rating also takes into consideration the delay in servicing its
debt obligation due to weak liquidity position. Business is active. Payments are reported to be slow. The company can be considered for business dealings on safe and
secured 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.
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 |
CRISIL |
|
Rating |
D (Long Term Rating) |
|
Rating Explanation |
Expected to be in default. |
|
Date |
May, 29, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
D (Short Term Rating) |
|
Rating Explanation |
Expected to be in default. |
|
Date |
May, 29, 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 PARTED BY
|
Name : |
Mr. Rupesh Sawant |
|
Designation : |
Export Department |
|
Contact No.: |
91-22-40749990 |
|
Date : |
07.02.2014 |
LOCATIONS
|
Registered Office : |
605-609, 6th Floor, Krushal Commercial Complex, Amar Mahal, G M Road,
Chembur (West), Mumbai – 400089, Maharashtra, India |
|
Tel. No.: |
91-22-67039991/ 40749990/ 25260983 |
|
Mobile No.: |
91-9820433671 (Mr. Jayesh D. Shah) |
|
Fax No.: |
91-22-67039990/ 25260986 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No. W104,
MIDC, TTC Industrial Area, Thane – Belapur Road, Khairane, Navi Mumbai –
400613, Maharashtra, India |
|
Tel. No.: |
91-22-67039991 |
|
Fax No.: |
91-22-40119991 |
|
|
|
|
Branches : |
Located at : ·
Coimbatore |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Dinesh Nandlal Shah |
|
Designation : |
Managing director |
|
Address : |
Jayesh, B/3, R.B. Mehta Marg, Ghatkopar (East), Mumbai ‐ 400077, Maharashtra, India |
|
Date of Birth/Age : |
27.07.1948 |
|
Date of Appointment : |
24.07.1995 |
|
DIN No.: |
00031829 |
|
|
|
|
Name : |
Mr. Jayesh Dinesh Shah |
|
Designation : |
Whole-time director |
|
Address : |
Jayesh, B/3, R.B. Mehta Marg, Ghatkopar (East), Mumbai ‐ 400077, Maharashtra, India |
|
Date of Birth/Age : |
02.05.1975 |
|
Date of Appointment : |
24.07.1995 |
|
DIN No.: |
00031900 |
|
|
|
|
Name : |
Mr. Utpal Dinesh Shah |
|
Designation : |
Whole-time director |
|
Address : |
Jayesh, B/3, R.B. Mehta Marg, Ghatkopar (East), Mumbai ‐ 400077, Maharashtra, India |
|
Date of Birth/Age : |
29.04.1979 |
|
Date of Appointment : |
17.07.2000 |
|
DIN No.: |
00031972 |
|
|
|
|
Name : |
Monil Dinesh Shah |
|
Designation : |
Whole-time director |
|
Address : |
Jayesh, B/3, R.B. Mehta Marg, Ghatkopar (East), Mumbai ‐ 400077, Maharashtra, India |
|
Date of Birth/Age : |
25.09.1981 |
|
Date of Appointment : |
17.07.2000 |
|
DIN No.: |
00031997 |
KEY EXECUTIVES
|
Name : |
Mr. Rupesh Sawant |
|
Designation : |
Export Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Dinesh Nandlal
Shah |
|
2440 |
|
Jayesh Dinesh
Shah |
|
2668 |
|
Usha Dinesh Shah |
|
2500 |
|
Utpal Dinesh Shah |
|
2700 |
|
Monil Dinesh Shah |
|
2700 |
|
Dinesh Nandlal
Shah Karta of Dinesh N Shah HUF |
|
10000 |
|
Utpal Impex Private Limited, India |
|
5 |
|
Jayesh Metals and Fero Alloys Private Limited, India |
|
5 |
|
Jayesh D Shah jointly with Usha D Shah |
|
2668 |
|
Usha D Shah jointly with Dinesh N Shah |
|
6250 |
|
Utpal D Shah jointly with Usha D Shah |
|
2700 |
|
Monil DInesh Shah jointly with Dinesh N Shah |
|
2700 |
|
Dinesh N Shah jointly with Usha D Shah |
|
6310 |
|
Jayesh Dinesh Shah jointly with Anuradha Jayesh Shah |
|
5464 |
|
Anuradha Jayesh Shah jointly with Jayesh Dinesh Shah |
|
4700 |
|
Naman Jayesh Shah jointly with Rep. by Father and natural Gurdian Jayesh Dinesh Shah |
|
1000 |
|
Veer Jayesh Shah jointly with Rep. by Father and natural Gurdian Jayesh Dinesh Shah |
|
1000 |
|
Utpal Dinesh Shah jointly with Hetal Utpal Shah |
|
9600 |
|
Hetal Utpal Shah jointly with Utpal Dinesh Shah |
|
2500 |
|
Monil Dinesh Shah jointly with Pooja Monil Shah |
|
9600 |
|
Pooja Monil Shah jointly with Monil Dinesh Shah |
|
2500 |
|
|
|
|
|
Total |
|
80010 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
Bodies corporate |
|
0.01 |
|
Directors or relatives of directors |
|
99.99 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing,
Exporting, Importing, Processing, Marketing and Supplying of Ferro-Alloys,
Non-Ferrous Metals, Minerals and Chemicals.
|
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
·
South America ·
Japan ·
Indonesia |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
·
China ·
Europe |
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|
|
|
Terms : |
|
|
Selling : |
L/C and Credit |
|
|
|
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users and OEM’s |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
· State Bank of India, Specialised S.I.B, Branch, Hotel Airways Building Ground Floor, L.B.S Marg, Ghatkopar (West), Mumbai – 400086, Maharashtra, India ·
Dena Bank, Krishna Bhuvan, Vile Parle (East),
Mumbai - 400057, Maharashtra, INDIA |
|||||||||||||||||||||
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|
|||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
J. D. Zatakia and Company Chartered Accountants |
|
Address : |
306, Rupa Plaza, Jawahar Road, Ghatkopar (East), Mumbai – 400077,
Maharashtra, India |
|
Tel. No.: |
91-22-25010766/ 25010052 |
|
Mobile No.: |
91-9820122976 |
|
Fax No.: |
91-22-25011051 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAAPZ0084D |
|
|
|
|
Associates Companies/ Firms: |
· Jayesh Trading Company · Utpal Impex Private Limited · Jayesh Metal and Ferro Alloys Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.100/- each |
Rs.15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
80010 |
Equity Shares |
Rs.100/- each |
Rs.8.001
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 |
8.001 |
8.001 |
8.001 |
|
(b) Reserves & Surplus |
53.947 |
58.732 |
57.902 |
|
(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) |
61.948 |
66.733 |
65.903 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
10.575 |
11.575 |
9.527 |
|
(b) Deferred tax liabilities (Net) |
0.684 |
0.274 |
0.583 |
|
(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) |
11.259 |
11.849 |
10.110 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
128.132 |
102.058 |
134.352 |
|
(b) Trade payables |
46.806 |
26.053 |
14.914 |
|
(c) Other current liabilities |
13.582 |
7.651 |
9.268 |
|
(d) Short-term provisions |
11.012 |
11.000 |
15.675 |
|
Total Current
Liabilities (4) |
199.532 |
146.763 |
174.209 |
|
|
|
|
|
|
TOTAL |
272.739 |
225.345 |
250.222 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
39.624 |
26.495 |
28.810 |
|
(ii) Intangible Assets |
0.045 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
1.952 |
4.445 |
1.319 |
|
(iv) Intangible assets under development |
0.000 |
1.348 |
0.000 |
|
(b) Non-current Investments |
0.000 |
3.000 |
3.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.299 |
2.287 |
2.246 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
43.920 |
37.575 |
35.375 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
3.275 |
0.000 |
0.000 |
|
(b) Inventories |
50.605 |
65.443 |
61.714 |
|
(c) Trade receivables |
141.696 |
100.516 |
120.370 |
|
(d) Cash and cash equivalents |
5.713 |
1.099 |
9.262 |
|
(e) Short-term loans and advances |
27.530 |
17.814 |
23.501 |
|
(f) Other current assets |
0.000 |
2.898 |
0.000 |
|
Total Current
Assets |
228.819 |
187.770 |
214.847 |
|
|
|
|
|
|
TOTAL |
272.739 |
225.345 |
250.222 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
440.594 |
509.107 |
561.087 |
|
|
|
Other Income |
9.077 |
17.255 |
14.808 |
|
|
|
TOTAL (A) |
449.671 |
526.362 |
575.895 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
374.070 |
437.624 |
492.682 |
|
|
|
Increase / (Decrease) in stock |
(4.611) |
0.000 |
(18.958) |
|
|
|
Employee benefit expenses |
19.846 |
16.465 |
14.023 |
|
|
|
Other expenses |
41.750 |
49.049 |
54.355 |
|
|
|
TOTAL (B) |
431.055 |
503.138 |
542.102 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
18.616 |
23.224 |
34.057 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
18.451 |
14.411 |
12.235 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.165 |
8.813 |
21.822 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.528 |
4.079 |
4.463 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(4.363) |
4.734 |
17.359 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.421 |
1.580 |
5.866 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(4.785) |
3.154 |
11.493 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
NA |
46.103 |
38.443 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
|
|
|
1.500 |
|
|
|
Interim Dividend on Equity Shares |
|
|
2.001 |
|
|
|
Tax on Dividend |
|
|
0.332 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA
|
46.103 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
94.014 |
123.233 |
142.698 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
197.710 |
274.605 |
307.692 |
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(59.80) |
39.43 |
143.64 |
|
Expected Sales (2013-2014): Rs.600.000 Millions
The above information has been parted by Mr. Rupesh Sawant
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(1.06)
|
0.60
|
2.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(0.99)
|
0.93
|
3.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.61)
|
2.19
|
7.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.07)
|
0.07
|
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.24
|
1.70
|
2.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15
|
1.28
|
1.23 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG-TERM DEBT DETAILS – 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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
|
Related parties |
6.575 |
7.575 |
|
Others |
4.000 |
4.000 |
|
|
|
|
|
Total |
10.575 |
11.575 |
FINANCIAL RESULT
The company has earned total income of Rs.
449.671 Millions. The company has incurred loss of Rs.4.785 Millions after
providing depreciation of Rs.4.528 Millions and current years wealth tax of Rs.0.012
Millions. The directors are hopeful that in the coming year better financial
results will follow. The company do not proposes no intends to transfer any of
the amount to any of the reserve account since company incurred loss.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
80011271 |
16/06/2011 * |
171,259,000.00 |
STATE BANK OF INDIA |
SPECIALISED S.I.B. BRANCH, HOTEL AIRWAYS BLDG, GROUND FLOOR, L.B.S. MARG, GHATKOPAR (WEST), MUMBAI, MAHARASHTRA - 400086, INDIA |
B18307207 |
|
2 |
80011273 |
16/06/2011 * |
186,259,000.00 |
STATE BANK OF INDIA |
SPECIALISED S.I.B. BRANCH, HOTEL AIRWAYS BLDG, GROUND FLOOR, L.B.S. MARG, GHATKOPAR (WEST), MUMBAI, MAHARASHTRA - 400086, INDIA |
B18307496 |
* Date of charge modification
FIXED ASSETS:
Tangible Assets
· Land
· Buildings
· Office Equipments
· Furniture and Fixture
· Plant and Machinery
· Vehicles
· Computers
Intangible Assets
· Software
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.62.31 |
|
|
1 |
Rs.101.78 |
|
Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
17 |
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.