MIRA
INFORM REPORT
|
Report Date : |
19.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
WEIKFIELD FOODS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Weikfield
IT City Infotech, 9th Floor, D Block, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
30.03.1998 |
|
|
|
|
Com. Reg. No.: |
25-114249 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 27.371
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15549MH1998PTC114249 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEW01460E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACW1596J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Selling of various Food Products. |
|
|
|
|
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 1640000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Weikfield Group, based in Pune. It is an
established company having satisfactory track record. The company possesses a decent financial profile marked by favorable
networth position along with a better improvement in its sales volume as well
as net profitability during 2013. The ratings also take into consideration the modest scale of
operations with dependence on seasonal availability of raw material inputs
and moderately high inventory period. However, trade relations are fair. Business is active. Payment terms
are reported as usually correct. In view of vast experience of the promoters, the subject can be
considered for business dealings at usual 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 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 |
CARE |
|
Rating |
Long term bank facilities : A- (Withdrawn) |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
December 20, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities : A2+ (Withdrawn) |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
December 20, 2013 |
WITHDRAWN RATING EXPLANATION:
CARE has withdrawn the external rating as the
outstanding bank facilities availed by the subject tends to fail below the
threshold for external rating.
Further, the subject also requested to
withdraw the said ratings as on immediate effect.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Shailesh Khanore |
|
Designation : |
General Finance Manager |
|
Contact No.: |
91-20-66322308/ 300 |
|
Date : |
18.02.2014 |
LOCATIONS
|
Registered/ Corporate Office : |
Weikfield IT City Infotech, 9th Floor, D Block, Nagar Road, Pune – 411014, Maharashtra, India |
|
Tel. No.: |
91-20-66478300 |
|
Fax No.: |
91-20-66478330 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Lonikand Unit: Weikfield Estate, Gat No. 485, Lonikand, Nagar Road, Pune – 412216, Maharashtra, India Tel. No.: 91-20-66478300 / 66322323 Fax No.: 91-20-66322345 Baddi Unit: Village Gullarwala, Bakori Unit: Gat No.323/331, Village Bakori, Taluka Haveli, District Pune – 412207,
Maharashtra, India Honey Unit –
Sanaswadi: Survey No.1288, Works and Office, Nagar Road, Sanaswadi, Pune – 412208, Maharashtra, India |
DIRECTORS
AS ON 26.09.2013
|
Name : |
Mrs. Ashwini Baldevraj Malhotra |
|
Designation : |
Managing director |
|
Address : |
A-8, Forest Park, Nagar Road, Pune – 411014, Maharashtra, India |
|
Date of Birth/Age : |
02.09.1959 |
|
Date of Appointment : |
30.03.1998 |
|
DIN No.: |
00129609 |
|
|
|
|
Name : |
Mr. Baldevraj Sitaram Malhotra |
|
Designation : |
Director |
|
Address : |
116, Koregaon Park, Pune – 411001, Maharashtra, India |
|
Date of Birth/Age : |
21.01.1934 |
|
Date of Appointment : |
30.03.1998 |
|
DIN No.: |
00610681 |
|
|
|
|
Name : |
Mr. Mukesh Satpal Malhotra |
|
Designation : |
Director |
|
Address : |
A-9, |
|
Date of Birth/Age : |
12.06.1952 |
|
Date of Appointment : |
30.03.1998 |
|
DIN No.: |
00129504 |
|
|
|
|
Name : |
Mr. Akshay Mukesh Malhotra |
|
Designation : |
Director |
|
Address : |
A-9, |
|
Date of Birth/Age : |
04.08.1976 |
|
Date of Appointment : |
02.05.2008 |
|
DIN No.: |
00129626 |
|
|
|
|
Name : |
Mr. Parag Saxena |
|
Designation : |
Director |
|
Address : |
6, Timber Trail Rye, New York 10580, United States of America |
|
Date of Birth/Age : |
27.04.1955 |
|
Date of Appointment : |
15.10.2008 |
|
DIN No.: |
01461421 |
KEY EXECUTIVES
|
Name : |
Mr. Shailesh Khanore |
|
Designation : |
General Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Mukesh Satpal Malhotra and Ritu Malhotra |
|
298027 |
|
Akshay Mukesh Malhotra and Smriti Malhotra |
|
176516 |
|
Ashwini Baldevraj Malhotra and Priti Ashwini Malhotra |
|
368544 |
|
Ritu Mukesh Malhotra and Mukesh Satpal Malhotra |
|
94698 |
|
Priti Ashwini Malhotra and Ashwini Baldevraj Malhotra |
|
98278 |
|
Hilda Investments Limited |
|
810 |
|
Sanjay Kailash Kohli |
|
688 |
|
Sandeep Bhushan Kumar and Niti Sandeep Kumar |
|
608 |
|
Parag Phoolchand Saxena and Siddharth Parag Saxena |
|
2722 |
|
Parag Phoolchand Saxena and Tanya Saxena |
|
2609 |
|
Parag Phoolchand Saxena jointly with Gaurav Parag Saxena |
|
2835 |
|
Vijay Kewalramani |
|
18473 |
|
Amalgamated Bean Coffee Trading Company Limited, India |
|
4050 |
|
Parag Phoolchand Saxena |
|
104015 |
|
Weikfield Products Corporation LLP |
|
131360 |
|
Ishwar Sani |
|
18473 |
|
Saachi Malhotra jointly with Ashwini and Priti Malhotra |
|
73709 |
|
Avanti Malhotra jointly with Ashwini and Priti Malhotra |
|
73709 |
|
Smriti Malhotra jointly with Akshay Mukesh Malhotra |
|
45000 |
|
Rajinder Mohini Malhotra jointly with Mukesh Satpal
Malhotra |
|
305508 |
|
Rajinder Mohini Malhotra jointly with Ashwini Baldevraj
Malhotra |
|
305508 |
|
Baldevraj Sitaram Malhotra jointly with Mukesh Satpal
Malhotra |
|
305477 |
|
Baldevraj Sitaram Malhotra jointly with Ashwini Baldevraj
Malhotra |
|
305477 |
|
|
|
|
|
Total |
|
2737094 |
AS ON 26.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
4.83 |
|
Bodies
corporate |
4.94 |
|
Directors
or relatives of directors |
89.56 |
|
Other
top fifty shareholders |
0.67 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of various Food Products. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||
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|
||||||||||||||||||
|
Bankers : |
· State Bank of India 1548 A Commercial Branch, Sadashiv Peth, Pune - 411030, Maharashtra,
India · Indian Limited 163, Backbay Reclamation, Mumbai - 400020, Maharashtra, India · State Bank of Patiala Dena Bank Corporation Bank Axis Bank Canara Bank |
||||||||||||||||||
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|
|
||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
MZSK And Associates Chartered Accountants |
|
Address : |
Level 3, Business Bay, Plot No. 84, Wellesley Road, Near RTO, Pune – 411001,
Maharashtra, India |
|
Tel. No.: |
91-20-26225500 |
|
Fax
No.: |
91-20-26225670 |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFK3470E |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,750,000 |
Equity Shares |
Rs. 10/- each |
Rs. 27.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,737,094 |
Equity Shares |
Rs. 10/- each |
Rs. 27.371
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
27.371 |
27.371 |
27.371 |
|
(b) Reserves & Surplus |
382.786 |
313.804 |
282.002 |
|
(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) |
410.157 |
341.175 |
309.373 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.295 |
1.169 |
2.997 |
|
(b) Deferred tax liabilities (Net) |
36.681 |
6.513 |
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) |
37.976 |
7.682 |
2.997 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
164.276 |
201.286 |
190.973 |
|
(b)
Trade payables |
64.415 |
40.550 |
50.072 |
|
(c)
Other current liabilities |
24.051 |
43.885 |
37.865 |
|
(d) Short-term
provisions |
4.200 |
3.787 |
2.979 |
|
Total Current
Liabilities (4) |
256.942 |
289.508 |
281.889 |
|
|
|
|
|
|
TOTAL |
705.075 |
638.365 |
594.259 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
333.365 |
338.478 |
360.905 |
|
(ii)
Intangible Assets |
2.049 |
2.670 |
3.291 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
21.886 |
|
(d) Long-term Loan and Advances |
53.256 |
48.175 |
32.008 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
388.670 |
389.323 |
418.090 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
55.530 |
37.500 |
0.000 |
|
(b)
Inventories |
124.289 |
96.592 |
99.302 |
|
(c)
Trade receivables |
105.687 |
70.865 |
54.289 |
|
(d) Cash
and cash equivalents |
21.447 |
33.565 |
8.219 |
|
(e)
Short-term loans and advances |
9.452 |
10.520 |
14.359 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
316.405 |
249.042 |
176.169 |
|
|
|
|
|
|
TOTAL |
705.075 |
638.365 |
594.259 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
959.754 |
789.140 |
631.581 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
774.658 |
653.779 |
531.384 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
185.096 |
135.361 |
100.197 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
21.547 |
24.622 |
24.628 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
163.549 |
110.739 |
75.569 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
30.193 |
29.725 |
28.284 |
|
|
|
|
|
|
|
|
|
|
EXTRA ORDINARY
ITEMS |
(0.363) |
0.000 |
(1.185) |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
132.993 |
81.014 |
46.100 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
26.050 |
16.287 |
9.199 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
106.943 |
64.727 |
36.901 |
|
|
|
|
|
|
|
|
|
|
DEFERRED TAX
ASSETS / (LIABILITY) |
(30.168) |
(28.399) |
(11.864) |
|
|
|
|
|
|
|
|
|
|
MAT ENTITLEMENT
CREDIT |
10.805 |
15.060 |
8.297 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
22.268 |
19.082 |
17.546 |
|
|
BALANCE CARRIED
TO THE B/S |
65.312 |
32.306 |
15.788 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
88.072 |
84.367 |
47.749 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
39.07 |
23.65 |
13.48 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
11.14
|
8.20 |
5.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.86
|
12.69 |
8.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
0.24 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.40
|
0.59 |
0.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23
|
0.86 |
0.62 |
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 |
27.371 |
27.371 |
27.371 |
|
Reserves & Surplus |
282.002 |
313.804 |
382.786 |
|
Net
worth |
309.373 |
341.175 |
410.157 |
|
|
|
|
|
|
long-term borrowings |
2.997 |
1.169 |
1.295 |
|
Short term borrowings |
190.973 |
201.286 |
164.276 |
|
Total
borrowings |
193.970 |
202.455 |
165.571 |
|
Debt/Equity
ratio |
0.627 |
0.593 |
0.404 |
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) |
|
TOTAL INCOME |
631.581 |
789.140 |
959.754 |
|
|
|
24.947 |
21.620 |
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 |
631.581 |
789.140 |
959.754 |
|
Profit |
36.901 |
64.727 |
106.943 |
|
|
5.84% |
8.20% |
11.14% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
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 |
CURRENT MATURITIES
OF LONG TERM DEBT: NOT AVAILABLE
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10116647 |
08/07/2013 * |
45,000,000.00 |
STATE BANK OF INDIA |
1548/A SADASHIV PETH, TILAK ROAD, PUNE - 411030, MAHARASHTRA, INDIA |
B82465774 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans from Directors |
108.404 |
147.080 |
|
Loans from Relatives |
49.217 |
47.352 |
|
Deposits from C and F Distributors |
6.645 |
4.950 |
|
Deposits from Customers |
0.010 |
1.904 |
|
|
|
|
|
Total |
164.276 |
201.286 |
|
SHORT TERM BORROWINGS Unsecured Loans from Directors and Relatives are repayable on demand
and carries an interest of 12% p.a. Unsecured Deposits from Distributors and Customers
are repayable on demand and carries an interest of 10 % p.a. Packing Credit and FBD are unsecured cash credit accounts from State
Bank of India and is repayable on demand and carries an interest of 9% to 11%
p.a. |
||
CORPORATE INFORMATION
Subject is a private limited company domiciled in India and incorporated
under the provisions of the Companies Act, 1956. The company is engaged in the
manufacturing and selling of various food products. The company caters to both
domestic and international markets. The company has 17 depot across India
through which it operates its domestic business.
REVIEW OF
OPERATIONS
During the year 2012-2013, the company’s performance has been extremely
satisfactory as sales have increased by 22% over the previous year while the
Operating Profit (EBITDA) has increased by 37% and Net Profit after Taxes by
65% over the previous year.
FUTURE
PROSPECTS
In the current year 2012-2013, the company’s profitability has improved considerably
due to various processes and systems in place for the efficient operations of
the company. The Board of Directors would like to congratulate the recently
appointed COO of the company Mr. Mahesh Joshi and his team for their
spectacular effort and results.
FIXED ASSETS:
· Land
Building
Building
(Temp Structure)
Material
Handling Equipment
Plant
and Machinery
Plant
and Machinery (Triple Shift)
Vehicles
Electrical
Equipments
Lab
and Office Equipments
Computers
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. 62.12 |
|
|
1 |
Rs. 103.93 |
|
Euro |
1 |
Rs. 85.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--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.