MIRA
INFORM REPORT
|
Report Date : |
25.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
TECHTRONICS ( |
|
|
|
|
Registered
Office : |
73, LGF, World Trade Centre, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
17.02.1997 |
|
|
|
|
Com. Reg. No.: |
55-085199 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 2.454
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29130DL1997PLC085199 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELT02830C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT4411D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Trader of Machine Tools and Equipments. |
|
|
|
|
No. of Employees
: |
42 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 50000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The company has achieved fair profitability from its operational activities
during the financial year 2013. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company 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.
ECGC Country Risk Classification List – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Aayush Bhadala |
|
Designation : |
Human Resource |
|
Contact No.: |
91-124-2370555 |
|
Date : |
24.02.2014 |
LOCATIONS
|
Registered Office : |
73, LGF, World Trade Centre, |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Administrative Office/Technical Center : |
138 A, Udyog Vihar, Phase – VI, Gurgaon – 122001, Haryana, India |
|
Tel. No.: |
91-124-2370555/ 2212000/ 2001 |
|
Fax No.: |
91-124-2370666 |
|
E-Mail : |
|
|
|
|
|
Regional Office : |
3-B, Sai Satyam Park, Pune Nagar Road, Pune – 410007, Maharashtra,
India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Sudhanshu Sharma |
|
Designation : |
Director |
|
Address : |
H-6, South City-1,
Gurgaon – 122001, |
|
Date of Birth/Age : |
16.06.1968 |
|
Qualification : |
B. Com |
|
Experience : |
18 Years |
|
Date of Appointment : |
17.02.1997 |
|
DIN No.: |
00834723 |
|
|
|
|
Name : |
Shabnam Sharma |
|
Designation : |
Director |
|
Address : |
H-6, South
City-1, Gurgaon – 122001, |
|
Date of Birth/Age : |
10.05.1974 |
|
Date of Appointment : |
08.12.2004 |
|
DIN No.: |
02005761 |
|
|
|
|
Name : |
Mr. Ganpati Sharma |
|
Designation : |
Director |
|
Address : |
H-6, South
City-1, Gurgaon – 122001, |
|
Date of Birth/Age : |
15.01.1940 |
|
Date of Appointment : |
17.02.1997 |
|
DIN No.: |
01901753 |
KEY EXECUTIVES
|
Name : |
Mr. Aayush Bhadala |
|
Designation : |
Human Resource |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Apurva Gopal Kalia |
|
100 |
|
Sudhanshu
Ganpati Sharma |
|
244700 |
|
Kirti A. Kalia |
|
100 |
|
Karuna Ganpati
Sharma |
|
100 |
|
Ganapati Ram
Chand Sharma |
|
100 |
|
Ambica Anil
Sanger |
|
100 |
|
Sandeep Agarwal |
|
200 |
|
|
|
|
|
Total |
|
245400 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
99.92 |
|
Other
top fifty shareholders |
0.08 |
|
|
|
|
Total |
100.00 |
%20LIMITED%20-%20255359%2025-Feb-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Trader of Machine Tools and Equipments. |
|
|
|
|
Imports : |
|
|
Products : |
Machines |
|
Countries : |
· Europe Asia |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
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|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
42 (Approximately) |
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Bankers : |
· Canara Bank 74, Janpath, New Delhi - 110001, Delhi, India |
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Facilities : |
|
|
|
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|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Awatar And Company Chartered Accountants |
|
Address : |
1203, Rohit House, 3, Tolstoy Marg, New Delhi – 110001, India |
|
Tel. No.: |
91-11-23315870/ 23320537 |
|
Fax No.: |
91-11-23358541 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFA4251H |
|
|
|
|
Company in which KMP / Relatives of KMP can exercise significant
influence : |
Techtronics Education (India) Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250,000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
245,400 |
Equity Shares |
Rs. 10/- each |
Rs. 2.454
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 |
2.454 |
2.454 |
2.454 |
|
(b) Reserves & Surplus |
10.165 |
7.370 |
5.010 |
|
(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) |
12.619 |
9.824 |
7.464 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
26.654 |
30.343 |
25.305 |
|
(b) Deferred tax liabilities (Net) |
0.514 |
0.572 |
0.593 |
|
(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) |
27.168 |
30.915 |
25.898 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
3.200 |
|
(b)
Trade payables |
14.991 |
11.017 |
25.834 |
|
(c)
Other current liabilities |
16.900 |
30.069 |
31.610 |
|
(d) Short-term
provisions |
2.199 |
1.197 |
1.166 |
|
Total Current
Liabilities (4) |
34.090 |
42.283 |
61.810 |
|
|
|
|
|
|
TOTAL |
73.877 |
83.022 |
95.172 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
12.331 |
12.207 |
12.416 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
33.036 |
20.559 |
0.266 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
45.367 |
32.766 |
12.682 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2.493 |
0.743 |
7.163 |
|
(c)
Trade receivables |
11.286 |
17.306 |
36.432 |
|
(d) Cash
and cash equivalents |
5.667 |
7.353 |
17.111 |
|
(e) Short-term
loans and advances |
2.544 |
2.978 |
8.387 |
|
(f)
Other current assets |
6.520 |
21.876 |
13.397 |
|
Total
Current Assets |
28.510 |
50.256 |
82.490 |
|
|
|
|
|
|
TOTAL |
73.877 |
83.022 |
95.172 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
100.040 |
210.589 |
253.228 |
|
|
|
Other Income |
6.394 |
2.419 |
0.800 |
|
|
|
TOTAL (A) |
106.434 |
213.008 |
254.028 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
42.717 |
134.700 |
196.533 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(1.750) |
6.420 |
(4.875) |
|
|
|
Employees benefits expense |
33.499 |
33.375 |
24.126 |
|
|
|
Other expenses |
21.647 |
28.890 |
28.437 |
|
|
|
TOTAL (B) |
96.113 |
203.385 |
244.221 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10.321 |
9.623 |
9.807 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.448 |
4.456 |
3.429 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.873 |
5.167 |
6.378 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.912 |
2.015 |
1.996 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3.961 |
3.152 |
4.382 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.166 |
0.792 |
0.994 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.795 |
2.360 |
3.388 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission Earnings |
39.827 |
27.327 |
22.217 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Machines |
33.012 |
141.493 |
196.073 |
|
|
|
Spare Parts |
0.000 |
0.012 |
0.811 |
|
|
|
Other Matters (Travelling) |
1.575 |
1.497 |
0.947 |
|
|
TOTAL IMPORTS |
34.587 |
143.002 |
197.831 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
11.39 |
9.62 |
13.81 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.63
|
1.11 |
1.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.96
|
1.50 |
1.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.36
|
3.80 |
4.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
0.32 |
0.59 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.11
|
3.09 |
3.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.84
|
1.19 |
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 |
2.454 |
2.454 |
2.454 |
|
Reserves & Surplus |
5.010 |
7.370 |
10.165 |
|
Net
worth |
7.464 |
9.824 |
12.619 |
|
|
|
|
|
|
long-term borrowings |
25.305 |
30.343 |
26.654 |
|
Short term borrowings |
3.200 |
0.000 |
0.000 |
|
Total
borrowings |
28.505 |
30.343 |
26.654 |
|
Debt/Equity
ratio |
3.819 |
3.089 |
2.112 |
%20LIMITED%20-%20255359%2025-Feb-2014_files/image004.gif)
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 |
253.228 |
210.589 |
100.040 |
|
|
|
(16.838) |
(52.495) |
%20LIMITED%20-%20255359%2025-Feb-2014_files/image006.gif)
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 |
253.228 |
210.589 |
100.040 |
|
Profit |
3.388 |
2.360 |
2.795 |
|
|
1.34% |
1.12% |
2.79% |
%20LIMITED%20-%20255359%2025-Feb-2014_files/image008.gif)
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 |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Loan from Ganapati
Sharma |
0.700 |
0.700 |
|
Loan from Ambika
Sharma |
0.200 |
0.200 |
|
Loan from Shabnam
Sharma |
0.300 |
0.300 |
|
|
|
|
|
Total |
1.200 |
1.200 |
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from J-5, Saket, New
Delhi – 110017, India to the present address w.e.f.26.03.2012.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U29130DL1997PLC085199 |
|
Name of the
company |
TECHTRONICS
(INDIA) LIMITED |
|
Address of the registered
office or of the principal place of
business in |
J-5, Saket, New Delhi – 110017, India Email: cavinod9@gmail.com |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
· Canara Bank 74, Janpath,
New Delhi - 110001, India Email: ca_rcg@yahoo.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Letter evidencing
deposit of Title Deeds alongwith Schedule A and B dated 13.02.2012 |
|
Date of
instrument Creating the charge |
13.02.2012 |
|
Amount secured by
the charge |
Rs. 43.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As applicable to
various credit facilities aggregating to Rs. 43.000 Millions granted
to/enjoyed by the Company. Terms of Repayment As applicable to
various credit facilities aggregating to Rs. 43.000 Millions granted
to/enjoyed by the Company. Margin As applicable to
various credit facilities aggregating to Rs. 43.000 Millions granted
to/enjoyed by the Company. Extent and Operation of the charge 100% Others To collaterally
secure all amounts payable under various credit facilities aggregating to Rs.
43.000 Millions granted to/enjoyed by the Company together with all
interests, costs, charges, expenses, commission etc. |
|
Short particulars
of the property charged |
Equitable
mortgage of immovable properties of the Company situated at Plot No. 138A,
Udyog Vihar, Phase VI, Gurgaon (Haryana) admeasuring 462 sq. meters together
with all buildings, structures, fittings, fixtures, machineries standing/installed
therein and to be erected/installed and put up in future. |
FIXED ASSETS:
· Buildings
Freehold
Buildings
Plant
and Machinery
Freehold
Plant and Machinery
Furniture
and Fixture
Land
Vehicles
Office
Equipment
Other
Assets
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 records 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. 103.38 |
|
Euro |
1 |
Rs. 85.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.