|
Report Date : |
11.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
NOVA FLEXIPACK PRIVATE LIMITED (w.e.f. 07.12.2004) |
|
|
|
|
Formerly Known
As : |
NOVA FLEXIPACK LIMITED |
|
|
|
|
Registered
Office : |
139, Seksaria
Chambers, 3rd Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
08.09.1995 |
|
|
|
|
Com. Reg. No.: |
11-092509 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.11.485
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH1995PTC092509 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN05541E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN3161C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Multilayer Films for Flexible Packaging. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 153000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The company has incurred a loss during 2013. However, the financial
position seems to be decent. Trade relations are reported as fair. Business is active. Payment
terms are slow but correct. The company can be considered for business dealings with some caution.
Note: The Profit & Loss A/c of the company for the year 2013 and 2012
are not available. |
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.
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
Management non-cooperative
(Tel. No.: 91-22-22673455)
LOCATIONS
|
Registered Office : |
139, Seksaria
Chambers, 3rd Floor, Nagindas Master Road, Mumbai – 400
023, Maharashtra, India |
|
Tel. No.: |
91-22-22673455-56 |
|
Fax No.: |
91-22-22671612 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot Nos.H-11 and H-12, O.I.D.C. Udyognagar, Ringanwada, Daman – 396
215, Union Territory of Daman and Diu, India |
|
Tel. No.: |
91-260-2242325/ 2242326 |
|
Fax No.: |
91-260-2244425 |
|
Email : |
|
|
Location : |
Rented |
DIRECTORS
AS ON 17.09.2013
|
Name : |
Mr. Paresh Virendra Kothari |
|
Designation : |
Director |
|
Address : |
B-205, Simla House, Nepean Sea Road, Mumbai – 400 036, Maharashtra,
India |
|
Date of Birth/Age : |
03.11.1944 |
|
Date of Appointment : |
07.12.2004 |
|
DIN No.: |
00267104 |
|
|
|
|
Name : |
Nehal Paresh Kothari |
|
Designation : |
Director |
|
Address : |
B-205, Simla House, Nepean Sea Road, Mumbai – 400 036, Maharashtra,
India |
|
Date of Birth/Age : |
08.09.1970 |
|
Date of Appointment : |
07.12.2004 |
|
DIN No.: |
00267192 |
|
|
|
|
Name : |
Mr. Vijay Kantilal Thanawala |
|
Designation : |
Director |
|
Address : |
304-A, Deep Jyoti Apartment, Veer Savarkar Marg, Naupada, Thane – 400
602, Maharashtra, India |
|
Date of Birth/Age : |
24.04.1947 |
|
Date of Appointment : |
07.12.2004 |
|
DIN No.: |
00001974 |
|
|
|
|
Name : |
Mr. Vishwabhushan Kedarnath Tandon |
|
Designation : |
Director |
|
Address : |
7/206, Laxmi Court, Wadala, Mumbai – 400 031, Maharashtra, India |
|
Date of Birth/Age : |
26.03.1959 |
|
Date of Appointment : |
07.12.2004 |
|
DIN No.: |
00222972 |
|
|
|
|
Name : |
Mr. Hiren Ajit Vora |
|
Designation : |
Director |
|
Address : |
Birla Mansion, 3rd Floor, Prarthana Samaj, Mumbai – 400
004, Maharashtra, India |
|
Date of Birth/Age : |
01.10.1972 |
|
Date of Appointment : |
01.02.2002 |
|
DIN No.: |
00037810 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 17.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Paresh Virendra Kothari jointly with Kalpana Paresh Kothari |
|
55010 |
|
Nehal Paresh Kothari jointly with Paresh Virendra Kothari |
|
50010 |
|
Kalpana Paresh Kothari jointly with Paresh Virendra Kothari |
|
56060 |
|
Vijendra Manjunath Shenai jointly with Sulekha Vijendra Shenai |
|
568500 |
|
Bindu Ajit Vora jointly with Hiren Ajit Vora |
|
60010 |
|
Bindu Ajit Vora and Arun Narayana Bhalerao for and on behalf of Asha
Techno Fin |
|
60000 |
|
Jyotsna Vijay Thanawala jointly with Vijay Kantilal Thanawala |
|
42510 |
|
Vijay Kantilal Thanawala jointly with Jyotsna Vijay Thanawala |
|
20500 |
|
Vishwabhushan Kedarnath Tandon jointly with Rachna Vishwabhushan
Tandon |
|
20510 |
|
Rachna Vishwabhushan Tandon jointly with Vishwabhushan Kedarnath
Tandon |
|
30010 |
|
Thanawala Consultancy Private Limited, India |
|
22400 |
|
Pitamaha Investment and Finance Private Limited, India |
|
148000 |
|
Nimisha Vijay Thanawala jointly with Vijay Kantilal Thanawala |
|
5000 |
|
V.K. Tandon (HUF) |
|
10000 |
|
Total |
|
1148520 |
AS ON 17.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
14.85 |
|
Directors
or relatives of directors |
|
35.65 |
|
Other
top fifty shareholders |
|
49.50 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Multilayer Films for Flexible Packaging. |
PRODUCTION STATUS [AS ON 31.03.2011]
Licensed and Installed
capacity and actual production (as certified by the Management)
|
Particulars |
Licensed
Capacity M.T.
|
Installed
Capacity M.T.
|
Actual
Production Kg.
|
|
Multilayer Plastic Films |
N.A. |
2700 |
2214169 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
The Saraswat Co-operative Bank Limited, Pragraj,
80/82, Issaji Street, Masjid Bunder, Mumbai – 400 003, Maharashtra, India
(Tel No.: 91-22-22881816) ·
HDFC Bank Limited ·
State Bank of India ·
Kotak
Mahindra Bank Limited ·
Standard
Chartered Bank |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
J.M. Doshi and Company Chartered Accountants |
|
Address : |
112/21, Piparwala Building, V.V. Chandan Street, Vadgadi, Masjid
(West), Mumbai – 400 003, Maharashtra, India |
|
Tel. No.: |
91-22-23402390 |
|
Income-tax
PAN of auditor or auditor's firm : |
AABPD6129Q |
CAPITAL STRUCTURE
AS ON 17.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1148520 |
Equity Shares |
Rs.10/- each |
Rs.11.485
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 |
11.485 |
11.485 |
11.485 |
|
(b) Reserves & Surplus |
21.178 |
31.169 |
29.863 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
5.561 |
5.561 |
5.561 |
|
Total
Shareholders’ Funds (1) + (2) |
38.224 |
48.215 |
46.909 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
7.840 |
5.693 |
13.702 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
7.840 |
5.693 |
13.702 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
29.285 |
29.458 |
|
(b) Trade
payables |
0.800 |
9.316
|
6.770 |
|
(c)
Other current liabilities |
0.147 |
0.326
|
0.418 |
|
(d) Short-term
provisions |
0.726 |
3.432
|
2.351 |
|
Total Current
Liabilities (4) |
1.673 |
42.359 |
38.997 |
|
|
|
|
|
|
TOTAL |
47.737 |
96.267 |
99.608 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
17.395 |
26.270 |
30.046 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
12.258 |
3.735 |
1.551 |
|
(c) Deferred tax assets (net) |
3.325 |
3.135 |
2.466 |
|
(d) Long-term Loan and Advances |
0.193 |
7.930 |
11.500 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
33.171 |
41.070 |
45.563 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1.180 |
6.325
|
7.090 |
|
(c)
Trade receivables |
5.283 |
36.826
|
36.127 |
|
(d) Cash
and cash equivalents |
6.179 |
9.411
|
7.815 |
|
(e)
Short-term loans and advances |
1.924 |
2.635 |
3.013 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
14.566 |
55.197 |
54.045 |
|
|
|
|
|
|
TOTAL |
47.737 |
96.267 |
99.608 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
NA |
147.662 |
|
|
|
Other Income |
NA |
NA |
1.480 |
|
|
|
TOTAL (A) |
NA |
NA |
149.142 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
NA |
NA |
114.642 |
|
|
|
Manufacturing Expenses |
NA |
NA |
10.881 |
|
|
|
Administrative Expenses |
NA |
NA |
9.095 |
|
|
|
Selling and Distribution Expenses |
NA |
NA |
3.022 |
|
|
|
Bad debts w/off |
NA |
NA |
1.453 |
|
|
|
Increase/ Decrease in stock |
NA |
NA |
(1.530) |
|
|
|
TOTAL (B) |
NA |
NA |
137.563 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
NA |
11.579 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST &
FINANCIAL EXPENSES (D) |
NA |
NA |
5.456 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
NA |
6.123 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
NA |
3.714 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
NA |
NA |
2.409 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
NA |
0.926 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(9.991) |
1.306 |
1.483 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
31.169 |
29.863 |
28.380 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
21.178 |
31.169 |
29.863 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
17.977 |
|
|
TOTAL IMPORTS |
NA |
NA |
17.977 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(8.70) |
1.14 |
1.29 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA |
NA |
0.99 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
1.63 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
NA |
2.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
NA |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.21 |
0.73
|
0.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
8.71 |
1.30
|
1.39 |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
one year |
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 |
-- |
|
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 |
No |
|
Unsecured Loans |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Term Loan |
|
|
|
Others |
|
|
|
From Related
Parties (The installment
following due within 12 months after report date is Nil as terms of repayment
are not pre-determined) |
3.180 |
2.566 |
|
Total |
3.180 |
2.566 |
INDEX OF CHARGES:
|
S.No. |
Charge
ID |
Date
of Charge Creation/Modification |
Charge
amount secured |
Charge
Holder |
Address |
Service
Request Number (SRN) |
|
1 |
90158095 |
05/12/2007
* |
5,000,000.00 |
THE SARASWAT CO - OPERATIVE BANK LIMITED |
MASJID
BUNDER BRANCH, MASJID BUNDER, MUMBAI, MAHARASHTRA - 400003, INDIA |
A29239480 |
|
2 |
90157827 |
19/04/2007
* |
17,000,000.00 |
THE SARASWAT CO - OPERATIVE BANK LIMITED |
MASJID
BUNDER BRANCH, MUMBAI, MAHARASHTRA - 400003, INDIA |
- |
|
3 |
90157184 |
31/05/1999 |
629,000.00 |
THE SARASWAT CO - OPERATIVE BANK LIMITED |
MASJID
BUNDER, MUMBAI, MAHARASHTRA - 400003, INDIA |
- |
|
4 |
90156865 |
05/05/1998 |
3,000,000.00 |
THE SARASWAT CO - OPERATIVE BANK LIMITED |
CENTRAL
ADMINISTRATIVE OFFICE, ASPARA CINEMA BUILDING; 2ND FLOOR; GRANT ROAD, MUMBAI,
MAHARASHTRA - 400007, INDIA |
- |
|
5 |
90156752 |
01/01/1998 |
500,000.00 |
THE SARASWAT CO - OPERATIVE BANK LIMITED |
CENTRAL
ADMINISTRATIVE OFFICE, ASPARA CINEMA BUILDING; 2ND FLOOR; GRANT ROAD, MUMBAI,
MAHARASHTRA - 400007, INDIA |
- |
|
6 |
90155056 |
20/10/2009
* |
26,200,000.00 |
THE SARASWAT CO - OPERATIVE BANK LIMITED |
PRAGRAJ,
80 / 82, ISSAJI STREET,, MASJID BUNDER, MUMBAI, MAHARASHTRA - 400003, INDIA |
B30667646 |
|
7 |
90156566 |
12/11/2008
* |
18,000,000.00 |
THE
SARASWAT CO - OPERATIVE BANK LIMITED |
MASJID
BUNDER BRANCH, MUMBAI, MAHARASHTRA - 400003, INDIA |
A50082718 |
* Date of charge modification
FIXED ASSETS:
·
Air Conditioner
·
Vehicles
·
Furniture and Fixture
·
Refrigerator
·
Office Equipment
·
Computers
·
Electrical Installation
·
Machinery
·
Land
·
Staff Quarters
·
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.102.14 |
|
Euro |
1 |
Rs.84.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.