MIRA
INFORM REPORT
|
Report Date : |
11.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
QUTONE CERAMIC PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 163/1 & 163/2, B/H Varmo Granito Private Limited,
Taluka Wankaner, Dhuva – 363622, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
06.10.2008 |
|
|
|
|
Com. Reg. No.: |
04-055178 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 30.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26933GJ2008PTC055178 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Ceramic Tiles. |
|
|
|
|
No. of Employees
: |
180 (Approximately) |
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 500000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The rating taken into consideration small scale and working capital
intensive operations in the ceramic industry. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing 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 worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry retained
its status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and awareness
among depositors. According to the plan, deposits that have not been
claimed for at least 10 years will be transferred to the scheme.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “BB” |
|
Rating Explanation |
Have moderate risk of default. |
|
Date |
13.01.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A4+” |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
13.01.2014 |
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
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Ashwin |
|
Designation : |
Account Manager |
|
Contact No.: |
91-9099041122 |
|
Date : |
08.02.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Survey No. 163/1 & 163/2, B/H Varmo Granito Private Limited,
Taluka Wankaner, Dhuva – 363622, Gujarat, India |
|
Tel. No.: |
91-79-40300075 |
|
Mobile No.: |
91-9099041122 (Mr. Ashwin) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Head Office: |
11, Titanium, Corporate Road, Opposite Prahalad Nagar, Garden, Sattellite, Ahmedabad-380015, Gujarat, India |
|
Tel. No.: |
91-79-26761780 |
|
Fax No.: |
91-79-40063338 |
|
|
|
|
Regional Office
1: |
P.O. Box 7441, A 19 A, Maya Puri Industrial Area, Phase-2, New Delhi - 110 064, India |
|
Tel. No.: |
91-11-45566311 / 22 |
|
Email. |
|
|
|
|
|
Regional Office
2: |
P.O. Box 7441, Al Fahidi Street, Bur Dubai, Near Dubai Museum, UAE |
|
Email. |
|
|
|
|
|
Regional Office
3: |
25 Burent Walk, Robbinsville, New Jersey – 08691, USA |
|
Email. |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Narayandas Amit Kamdar |
|
Designation : |
Director |
|
Address : |
1/273, Housing Board Colony, Madanganj – 305801, Rajasthan, India |
|
Date of Birth/Age : |
20.07.1979 |
|
Date of Appointment : |
14.02.2009 |
|
DIN No.: |
00358598 |
|
|
|
|
Name : |
Mr. Madanlal Manojkumar Agarwal |
|
Designation : |
Director |
|
Address : |
B-31, Rivera Hights, Opposite Reliance Petrol Pump, Anand Nagar Road,
Vejalpur, Ahmedabad – 380051, Gujarat, India |
|
Date of Birth/Age : |
15.09.1969 |
|
Date of Appointment : |
06.10.2008 |
|
DIN No.: |
02341175 |
|
|
|
|
Name : |
Mr. Harish Beenal Arora Adlakha |
|
Designation : |
Director |
|
Address : |
C-0402, Ambience Island, Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
06.06.1978 |
|
Date of Appointment : |
06.10.2008 |
|
DIN No.: |
02341473 |
|
|
|
|
Name : |
Mr. Sitaramji Sunil Manglunia |
|
Designation : |
Director |
|
Address : |
B-14, Mukherjee, Colony, Shastari Nagar, Jaipur – 302016, Rajasthan,
India |
|
Date of Birth/Age : |
30.01.1976 |
|
Date of Appointment : |
01.04.2011 |
|
DIN No.: |
02348121 |
|
|
|
|
Name : |
Mr. Ramawtar Anil Manglunia |
|
Designation : |
Director |
|
Address : |
B-14, Mukherjee, Colony, Shastari Nagar, Jaipur – 302016, Rajasthan,
India |
|
Date of Birth/Age : |
19.02.1975 |
|
Date of Appointment : |
14.02.2009 |
|
DIN No.: |
02348096 |
|
|
|
|
Name : |
Mr. Rajeev Adlakha |
|
Designation : |
Director |
|
Address : |
C-402, Ambience Island, NH-8, Gurgaon – 122001, Haryana, India |
|
Date of Birth/Age : |
19.07.1975 |
|
Date of Appointment : |
01.04.2011 |
|
DIN No.: |
02472895 |
|
|
|
|
Name : |
Mr. Kunvarjibhai Jagdish Dalsaniya |
|
Designation : |
Director |
|
Address : |
10, Mahendra Para, District Rajkot, Morbi – 363641, Gujarat, India |
|
Date of Birth/Age : |
12.08.1977 |
|
Date of Appointment : |
14.03.2009 |
|
DIN No.: |
02591958 |
|
|
|
|
Name : |
Mr. Ramgopal Dineshkumar Agarwal |
|
Designation : |
Director |
|
Address : |
Shakti Plot – 6, Sanala Road, Opposite Mahavir Place, Morbi – 363641,
Gujarat, India |
|
Date of Birth/Age : |
01.10.1976 |
|
Date of Appointment : |
14.03.2009 |
|
DIN No.: |
02593827 |
KEY EXECUTIVES
|
Name : |
Mr. Ashwin |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Manoj Agarwal |
|
670600 |
|
Sunita Agarwal |
|
50000 |
|
Amit Kamdar |
|
414500 |
|
Anilkumar Manglunia |
|
295000 |
|
Beenal Adhlakha |
|
475000 |
|
Jagdish Dalsaniya |
|
79250 |
|
Sunil Manglunia |
|
275000 |
|
Dinesh Agarwal |
|
39806 |
|
Gagan Arora and Sons |
|
10000 |
|
Malik Investment Private Limited, India |
|
153256 |
|
Manojkumar Bharuka and Sons (Huf) |
|
60000 |
|
Oswal Service Private Limited, India |
|
396744 |
|
Parulben Jagdishbhai |
|
8600 |
|
Rukmanidevi Kamdar |
|
6500 |
|
Suresh Agarwal |
|
42000 |
|
Rajeev Adlakha |
|
1744 |
|
Vipul Harjivanbhai |
|
22000 |
|
|
|
|
|
Total |
|
3000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
19.06 |
|
Directors or relatives of directors |
|
80.94 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Ceramic Tiles. |
|
|
|
|
Exports : |
|
|
Products : |
·
Ceramic Tiles |
|
Countries : |
·
UAE ·
Saudi Arabia ·
UK ·
South Africa ·
Iraq |
|
|
|
|
Imports : |
|
|
Products : |
·
Raw Materials |
|
Countries : |
·
China ·
Italy |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and 100% Advance |
|
|
|
|
Purchasing : |
L/C and 100% Advance |
GENERAL INFORMATION
|
Suppliers : |
·
Vidres India Ceramics Private Limited, Gujarat ·
Add World – New Delhi ·
Antique Designer ·
Ashok Electric Company ·
Balaji Stone Supplier ·
Blazeflash Courier ·
Business India Publication Limited ·
Calcutta Hardware Mart ·
Design Zone ·
Futuristic Software Consultancy |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
End Users ·
Bansal Sanitary Stare ·
ABC Sales Corporation ·
Al-Ain Traders ·
Arihant Sales Industries ·
Balaji Sanitation ·
Bansal Bath Concept ·
Bath Plaza Delhi ·
Ceramic Point – Jaipur ·
Ceramic City – Hyderabad |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
180 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
Oriental Bank of Commerce, Branch Office, Morbi - 363642, Gujarat, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
Fund and non-fund: Rs. 246.800 Millions
(From Oriental Bank of Commerce) (Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Patel Soni Shah and Company Chartered Accountants |
|
Address : |
901-902, Shilp Tower, Tagore Road, Rajkot – 360002, Gujarat, India |
|
E-Mail : |
|
|
PAN No.: |
AAJFP2374B |
|
|
|
|
Subsidiaries : |
Qutone Tiles Private Limited |
|
|
|
|
Associates: |
Qutone Home Concepts Private Limited
|
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 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 |
30.000 |
27.470 |
24.000 |
|
(b) Reserves & Surplus |
97.411 |
63.407 |
21.030 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
20.000 |
|
Total Shareholders’ Funds (1) + (2) |
127.411 |
90.877 |
65.030 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
74.943 |
43.691 |
30.806 |
|
(b) Deferred tax liabilities (Net) |
7.785 |
4.161 |
2.735 |
|
(c) Other long
term liabilities |
2.706 |
14.079 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
85.434 |
61.931 |
33.541 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
110.490 |
46.386 |
25.068 |
|
(b)
Trade payables |
58.357 |
79.902 |
27.962 |
|
(c)
Other current liabilities |
30.828 |
17.631 |
39.712 |
|
(d) Short-term
provisions |
4.508 |
2.917 |
1.857 |
|
Total Current
Liabilities (4) |
204.183 |
146.836 |
94.599 |
|
|
|
|
|
|
TOTAL |
417.028 |
299.644 |
193.170 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
150.642 |
121.743 |
61.887 |
|
(ii)
Intangible Assets |
0.206 |
0.245 |
0.000 |
|
(iii)
Capital work-in-progress |
0.070 |
19.555 |
40.982 |
|
(iv) Intangible assets under development |
2.305 |
0.000 |
0.000 |
|
(b) Non-current Investments |
61.947 |
0.000 |
1.000 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
5.648 |
9.930 |
0.718 |
|
(e) Other
Non-current assets |
0.102 |
0.184 |
0.000 |
|
Total Non-Current
Assets |
220.920 |
151.657 |
104.587 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
63.009 |
50.977 |
33.846 |
|
(c)
Trade receivables |
88.505 |
52.429 |
30.003 |
|
(d) Cash
and cash equivalents |
14.917 |
24.706 |
13.636 |
|
(e)
Short-term loans and advances |
29.149 |
19.378 |
8.111 |
|
(f)
Other current assets |
0.528 |
0.497 |
2.987 |
|
Total
Current Assets |
196.108 |
147.987 |
88.583 |
|
|
|
|
|
|
TOTAL |
417.028 |
299.644 |
193.170 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
574.267 |
401.774 |
224.583 |
|
|
|
Other Income |
4.676 |
1.902 |
NA |
|
|
|
TOTAL |
578.943 |
403.676 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
547.702 |
381.403 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
31.241 |
22.273 |
NA |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
12.082 |
7.892 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
19.159 |
14.381 |
5.285 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
7.506 |
3.170 |
1.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
11.653 |
11.211 |
4.405 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Fob value of exports |
NA |
1.512 |
1.216 |
|
|
TOTAL EARNINGS |
NA |
1.512 |
1.216 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
0.000 |
0.760 |
|
|
|
Plant and Machinery |
|
10.392 |
35.881 |
|
|
|
Consumable store |
|
2.996 |
0.089 |
|
|
|
Finished goods |
|
2.746 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
16.134 |
36.730 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.88 |
3.73 |
NA |
|
Expected Sales (2013-2014): Rs. 1100.000 Millions
The above information has been parted by Mr. Ashwin Bharani
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.01 |
2.78 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.33 |
3.58 |
2.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.43 |
5.13 |
3.50 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.16 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.46 |
0.99 |
0.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.97 |
1.01 |
0.93 |
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 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
From directors |
|
10.444 |
|
From friends and relatives |
|
4.134 |
|
|
|
|
|
Total |
NA |
14.578 |
COMPANY
PERFORMANCE
The company has reported income from operation during the year of Rs.
574.267 Millions as compared to the previous year’s income from operation of
Rs. 401.774 millions and the company has earned net profit of Rs. 11.653
millions as compared to the previous year profit of Rs. 11.211 millions with a
view to conserve resources, the directors do not recommend any dividend.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10167615 |
18/05/2012 * |
246,800,000.00 |
Oriental Bank Of Commerce |
Branch Office, Morbi, Gujarat - 363642, INDIA |
B40864175 |
* Date of charge modification
FIXED ASSETS
·
Factory
Buildings
·
Plant
and Machinery
·
Furniture
and Fixture
·
Office
Equipments
·
Computers
·
Factory
building
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. 62.19 |
|
|
1 |
Rs. 102.13 |
|
Euro |
1 |
Rs. 84.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
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.