MIRA
INFORM REPORT
|
Report Date : |
14.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
OSWAL INDUSTRIES LIMITED (w.e.f. 11.11.1994) |
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Formerly Known
As : |
OSWAL CASTINGS LIMITED (w.e.f 11.11.1994) OSWAL CASTINGS PRIVATE LIMITED |
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Registered
Office : |
Bileshwrpura, Taluka Gandhi Nagar, Chhatral – 382729, Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
19.03.1983 |
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Com. Reg. No.: |
04-006037 |
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Capital
Investment / Paid-up Capital : |
Rs.93.594 Millions |
|
|
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CIN No.: [Company Identification
No.] |
L27100GJ1983PLC006037 |
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IEC No.: |
0895006383 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AHMO00419G |
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PAN No.: [Permanent Account No.] |
AAACO3443L |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in the Manufacturing of M.S. and S.S Castings and
Industrial valves and Trading of Scrap and Fittings. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2480000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having a satisfactory track
record. The performance capacity appears to be high. Financially seems to be
strong. Trade relations are reported to be fair. Business is active. Payments are
reported to be usually correct and as per commitment. The company can be considered for normal business dealings at usual
trade terms and conditions. Note: The company is listed on Ahmedabad Stock Exchange. |
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 |
BB (Long Term Rating): Suspended |
|
Date |
November 25, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A3+ (Short Term Rating): Suspended |
|
Date |
November 25, 2013 |
Reason for suspension: The suspension of rating
is on account of non-cooperation by company with CRISIL efforts to undertake a
review of the ratings outstanding.
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 DENIED
Management Non-Cooperative (91-2764-304996)
LOCATIONS
|
Registered Office/ Foundry Division : |
Bileshwrpura, Taluka Gandhi Nagar, Chhatral – 382729, Gujarat, India |
|
Tel. No.: |
91-2764-232261/ 233661 /226885/ 304700 |
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Fax No.: |
91-2764-233411/ 226882 |
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E-Mail : |
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Website : |
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Value Division : |
Block No. 258, Ahmedabad – Mehsana Expressway, Village – Ola, Post –
Island, Taluka- Kalol, District- Gandhinagar - 382740, Gujarat. India |
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Tel. No.: |
91-2764-3047000/304997/304998 |
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Fax No.: |
91-2764-226882 |
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Branch Office : |
3rd Floor, Kartar Mansion, Tribhuvan Road, Off. Lamington
Road, Mumbai – 400004, Maharashtra, India |
|
Tel. No.: |
91-22-61448000-99 |
|
Fax No.: |
91-22-23861642 |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Babulal H Bokadia |
|
Designation : |
Chairman and Managing Director |
|
Address : |
3, Manipushpa Society, Part – 6, Near Surdhara Circle, Thaltej,
Ahmedabad – 380 054, Gujarat, India |
|
Date of Birth/Age : |
27.02.1958 |
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Qualification : |
SSC examination from Rajasthan State Board |
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PAN No.: |
AHZPB6642H |
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Date of Appointment : |
19.03.1983 |
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DIN No.: |
00559976 |
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Name : |
Mr. Jitendra H Bokadia |
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Designation : |
Executive Director |
|
Address : |
191, 19 Rushabh Apartment, Parekh Street, Pratna Samaj, Mumbai - 400 004, Maharashtra, India |
|
Qualification : |
SSC examination from Rajasthan State Board |
|
Date of Appointment : |
01.08.1993 |
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DIN No.: |
02219590 |
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Name : |
Mr. Jayant Babulal Bokadia |
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Designation : |
Whole Time Director |
|
Address : |
3, Manipushpa Society, Part – 6, Near Surdhara Circle, Thaltej,
Ahmedabad – 380 054, Gujarat, India |
|
Date of Birth/Age : |
09.06.1982 |
|
Qualification : |
Bachelor of Computers degree from Narsinbhai Patel College
of Computer Studies and MBA (Finance) degree from AMA Gujarat |
|
PAN No.: |
ABNPB5384L |
|
Date of Appointment : |
23.08.2005 |
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DIN No.: |
02408771 |
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Name : |
Mr. Ravi Parasmalji Doshi |
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Designation : |
Whole Time Director |
|
Address : |
454, S.V.P. Road, Peerbhoy Mansion, 3RD Floor, Flat No. 26, Mumbai – 400 004, Maharashtra, India |
|
Date of Birth/Age : |
29.07.1982 |
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Qualification : |
MBA (International Business) degree from London Metropolitan
University, Certificate Course from Keil University-Germany and Business
English Certification by University of Cambridge |
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PAN No.: |
AHTPD9038R |
|
Date of Appointment : |
23.08.2005 |
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DIN No.: |
02219600 |
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|
Name : |
Mr. Neeraj Yadav |
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Designation : |
Director |
|
Address : |
Sardar Patel Marg, Jaipur - 302 019, Rajasthan, India |
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Date of Birth/Age : |
23.08.1974 |
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Qualification : |
BE (Production and Industrial Engineering) degree from University
of Rajasthan Institute and MBA (Operations management) degree from IGNOU |
|
Date of Appointment : |
14.09.2009 |
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DIN No.: |
00839896 |
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Name : |
Mr. Arvind Kumar Bhandari |
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Designation : |
Director |
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Address : |
101, Samprat Residency - II, Behind Styagrah Chavni, Bodakdev,
ahmedbad-380 054, Gujarat, India |
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Date of Birth/Age : |
02.04.1949 |
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Qualification : |
M. Sc degree from PAU, Uttar Pradesh |
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Date of Appointment : |
31.10.2009 |
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DIN No.: |
00586234 |
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Name : |
Mr. Rashmikant Chhabildas Mehta |
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Designation : |
Director |
|
Address : |
27, Samadhur Society, Behind Ocean Park, Satellite Road, Ahmedabad -
380 015, Gujarat, India |
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Date of Birth/Age : |
04.10.1948 |
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Qualification : |
Chartered Accountant |
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Date of Appointment : |
03.02.2010 |
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DIN No.: |
02933012 |
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|
Name : |
Mr. Ghulam Mohammed Ghouse |
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Designation : |
Additional Director |
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Address : |
8-A Picadilly Flats, Clare Road, Byculla, Mumbai – 400008, Maharashtra,
India |
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Date of Birth/Age : |
15.07.1924 |
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Date of Appointment : |
24.05.2013 |
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DIN No.: |
00591038 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay Kumar Ojha |
|
Designation : |
Secretary |
|
Address : |
Aster-6, Shukan-6, Opposite Science City, Sola Road, Ahmedabad –
380061, Gujarat, India |
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Date of Birth/Age : |
25.05.1964 |
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Date of Appointment : |
05.03.2013 |
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PAN No.: |
AADPO9970C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
Bodies corporate |
|
23.62 |
|
Directors or relatives of directors |
|
74.66 |
|
Other top fifty shareholders |
|
1.60 |
|
Others |
|
0.12 |
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the Manufacturing of M.S. and S.S Castings and
Industrial valves and Trading of Scrap and Fittings. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Information declined by the management |
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Bankers : |
· Punjab National Bank, LCB Nilkamal Building, Opposite Sales India, Ashram Road, Ahmedabad – 380 009, Gujarat, India ·
HDFC Bank Limited, HDFC Bank House Senapati Bapat
Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mehta Lodha and Company Chartered Accountants |
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Address : |
105, Sakar – 1st Floor, Opposite Gandhigram Railway
Station, Ashram Road, Ahmedabad – 380 009, Gujarat, India |
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Tel. No.: |
91-79-26586683/ 84/85 |
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Fax No.: |
91-79-26586684 |
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PAN No.: |
AACFM6805H |
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Associates : |
Oswal Infrasteucture Limited U17110GJ1991PLC016722 |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9359400 |
Equity Shares |
Rs.10/- each |
Rs.93.594 Millions |
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|
|
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|
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 |
93.594 |
93.594 |
93.594 |
|
(b) Reserves & Surplus |
526.883 |
421.259 |
340.966 |
|
(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) |
620.477 |
514.853 |
434.560 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2.699 |
3.301 |
0.708 |
|
(b) Deferred tax liabilities (Net) |
37.442 |
35.934 |
22.040 |
|
(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) |
40.141 |
39.235 |
22.748 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
280.763 |
356.862 |
371.153 |
|
(b) Trade payables |
70.204 |
98.937 |
124.949 |
|
(c) Other current liabilities |
50.722 |
33.236 |
25.579 |
|
(d) Short-term provisions |
11.433 |
1.198 |
1.390 |
|
Total Current
Liabilities (4) |
413.122 |
490.233 |
523.071 |
|
|
|
|
|
|
TOTAL |
1073.740 |
1044.321 |
980.379 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
368.627 |
349.863 |
276.012 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
19.789 |
10.919 |
5.218 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
7.377 |
6.575 |
5.193 |
|
(e) Other Non-current assets |
2.557 |
0.504 |
0.291 |
|
Total Non-Current
Assets |
398.350 |
367.861 |
286.714 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
253.575 |
368.759 |
138.010 |
|
(c) Trade receivables |
359.160 |
215.661 |
340.808 |
|
(d) Cash and cash equivalents |
27.976 |
31.581 |
26.349 |
|
(e) Short-term loans and advances |
28.621 |
51.857 |
177.621 |
|
(f) Other current assets |
6.058 |
8.602 |
10.877 |
|
Total Current
Assets |
675.390 |
676.460 |
693.665 |
|
|
|
|
|
|
TOTAL |
1073.740 |
1044.321 |
980.379 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1306.906 |
1015.803 |
1007.943 |
|
|
|
Other Income |
2.153 |
12.501 |
18.242 |
|
|
|
TOTAL |
1309.059 |
1028.304 |
1026.185 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
650.906 |
747.400 |
580.442 |
|
|
|
Purchases of stock-in-trade |
0.000 |
0.000 |
3.987 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
114.346 |
(208.770) |
12.748 |
|
|
|
Employee benefit
expense |
82.400 |
75.409 |
55.803 |
|
|
|
Other expenses |
195.452 |
214.966 |
168.747 |
|
|
|
TOTAL |
1043.104 |
829.005 |
821.727 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
265.955 |
199.299 |
204.458 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
48.351 |
37.695 |
36.892 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
217.604 |
161.604 |
167.566 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
46.123 |
31.472 |
27.602 |
|
|
|
|
|
|
|
|
|
Add |
PRIOR PERIOD
ITEMS |
0.000 |
(0.085) |
(0.506) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX |
171.481 |
130.047 |
139.458 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
54.979 |
38.841 |
49.209 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX |
116.502 |
91.206 |
90.249 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
317.456 |
242.164 |
170.828 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
5.000 |
5.000 |
8.000 |
|
|
|
Dividend and Dividend Distribution Tax thereon |
10.877 |
10.914 |
9.359 |
|
|
|
Dividend Tax |
0.000 |
0.000 |
1.554 |
|
|
BALANCE CARRIED
TO THE B/S |
418.081 |
317.456 |
242.743 |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss) Per Share (Rs.) |
12.45 |
9.74 |
9.64 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
8.90
|
8.87
|
8.79 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.12
|
12.80
|
13.83 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.27
|
12.58
|
14.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.25
|
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.46
|
0.69
|
0.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.63
|
1.38
|
1.33 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
93.594 |
93.594 |
93.594 |
|
Reserves & Surplus |
340.966 |
421.259 |
526.883 |
|
Net
worth |
434.560 |
514.853 |
620.477 |
|
|
|
|
|
|
long-term borrowings |
0.708 |
3.301 |
2.669 |
|
Short term borrowings |
371.153 |
356.862 |
280.763 |
|
Total
borrowings |
371.861 |
360.163 |
283.432 |
|
Debt/Equity
ratio |
0.856 |
0.700 |
0.457 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1,007.943 |
1,015.803 |
1,306.906 |
|
|
|
0.780 |
28.657 |
NET PROFIT MARGIN
|
Net Profit
Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1,007.943 |
1,015.803 |
1,306.906 |
|
Profit |
90.249 |
91.206 |
116.502 |
|
|
8.95% |
8.98% |
8.91% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
(Rs. In Millions)
|
Particular |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long-term debt |
37.438 |
2.203 |
10.013 |
|
|
|
|
|
|
Total |
37.438 |
2.203 |
10.013 |
|
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 three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
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 |
Yes |
|
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 |
|
SHORT TERM
BORROWING |
|
|
|
Loans repayable on demand |
0.000 |
1.331 |
|
|
|
|
|
Total |
0.000 |
1.331 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10133726 |
21/12/2013 * |
725,000,000.00 |
PUNJAB NATIONAL BANK |
LCB, NILKAMAL BUILDING,, OPP. SALES INDIA, ASHRAM ROAD, AHMEDABAD, GUJARAT 380009, INDIA |
B93117034 |
|
2 |
10094383 |
07/02/2008 |
20,000,000.00 |
PUNJAB NATIONAL BANK |
INTERNATIONAL BANKING BRANCH, NEEL KAMAL BUILDING, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA |
A35155753 |
|
3 |
10072806 |
09/10/2007 |
291,000,000.00 |
PUNJAB NATIONAL BANK |
INTERNATIONAL BANKING BRANCH, NEEL KAMAL BUILDING, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA |
A25709213 |
|
4 |
10009834 |
21/12/2013 * |
725,000,000.00 |
PUNJAB NATIONAL BANK |
LCB, NILKAMAL BUILDING, OPP. SALES INDIA, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA |
B92973569 |
* Date of charge modification
FIXED ASSETS:
Tangible Assets
·
Freehold
Land
·
Building
·
Plant and
Machinery
·
Computer
·
Vehicles
·
Furniture
and Fixtures
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.62.27 |
|
|
1 |
Rs.103.46 |
|
Euro |
1 |
Rs.84.87 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
50 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound
financial base with the strongest capability for timely payment of interest
and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate
working capital. No caution needed for credit transaction. It has above average
(strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not
cause fatal effect. Satisfactory capability for payment of interest and principal
sums |
Fairly
Large |
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome
financial difficulties seems comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are
apparent. Repayment of interest and principal sums in default or expected to
be in default upon maturity |
Limited
with full security |
|
<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit
not recommended |
|
-- |
NB |
New
Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.