MIRA
INFORM REPORT
|
Report Date : |
26.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHAH PRECICAST PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E-35, MIDC Kupwad Block, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.06.1997 |
|
|
|
|
Com. Reg. No.: |
11-108807 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4.150
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28910MH1997PTC108807 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
KLPS05500F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECS8077J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of Valve Pump. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 250000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The company has taken huge external borrowing, which acts as
threatening to the liquidity position of the company. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some caution. Note: Latest
financial of 2013 is not available with us. |
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 |
SE 2C |
|
Rating Explanation |
Hhign performance capability and low financial strength. |
|
Date |
26.11.2012 |
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. Nitin Rasiklal Shah |
|
Designation : |
Director |
|
Contact No.: |
91-9822066557 |
|
Date : |
24.02.2014 |
LOCATIONS
|
Registered Office/Factory: |
E-35, MIDC Kupwad Block, |
|
Tel. No.: |
91-233-2264484 / 2644845 / 2645611 / 2643932 |
|
Mobile No : |
91-9822066557 (Mr. Nitin Rasiklal Shah) |
|
Fax No.: |
91-233-2645612 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
3000 Sq. mtr. |
|
Location : |
Owned |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Nitin Rasiklal Shah |
|
Designation : |
Director |
|
Address : |
Flat No.2, Venkatesh Tulsi Apartments, Near Trikoni Bag, Civil Hospital
Road, Sangli – 416416, Maharashtra, India |
|
Date of Birth/Age : |
30.03.1961 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
25.07.2009 |
|
PAN No : |
ACZPS9035J |
|
DIN No.: |
00818517 |
|
|
|
|
Name : |
Mrs. Sunita Nitin Shah |
|
Designation : |
Director |
|
Address : |
Flat No.2, Venkatesh Tulsi Apartments, Opposite Trikoni Bag, Sangli –
416416, Maharashtra, India |
|
Date of Birth/Age : |
19.05.1967 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
02.02.2005 |
|
DIN No.: |
01955266 |
|
|
|
|
Name : |
Mr. Ashok Moreshwar Phadke |
|
Designation : |
Director |
|
Address : |
1047/B/6, Topaz Society, Near Mafatlal Bunglow, Shivaji Nagar, Pune –
411016, Maharashtra, India |
|
Date of Birth/Age : |
14.07.1942 |
|
Qualification : |
BE |
|
Date of Appointment : |
02.02.2005 |
|
DIN No.: |
00818586 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Nitin Shah |
343500 |
82.77 |
|
Rasiklal Shah |
25850 |
6.23 |
|
Nitin Rasiklal Shah (HUF) |
10000 |
2.41 |
|
Kumudini Shah |
3100 |
0.75 |
|
Sunita Shah |
12250 |
2.95 |
|
Subhash Vakhariya |
7000 |
1.69 |
|
Shashikala Vakhariya |
1800 |
0.43 |
|
Shilpa R. Shah |
2500 |
0.60 |
|
Pradip M. Shah |
3000 |
0.72 |
|
Nilesh M. Shah |
3000 |
0.72 |
|
Ravindra P. Shah |
3000 |
0.72 |
|
Toal |
415000 |
100.00 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Valve Pump. |
PRODUCTION STATUS (AS ON 31.03.212)
|
Particulars |
Unit |
Actual
Production |
|
Steel, ST. Steel, Slag |
M.T. |
2702.933 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
|||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||
|
Bankers : |
· Bank of Baroda, Miraj Branch, P.B. No.20, High School Road, Miraj – 416410, Maharashtra, India Axis Bank Limited Union Bank of India |
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8Facilities : |
NOTE LONG TERM
BORROWINGS All Term Loans are mortgaged against entire fixed Assets of the Company (which includes Factory Land and building, plant and machinery) and movable assets, Term Loans disclosed above are due after one year from the reporting period ended. SHORT TERM
BORROWINGS All secured working capital loans are secured against hypothecation of
the stocks and book debts of the company. Loan repayable on demand includes the credit balances in current
accounts due to cheques issued but not presented for payments. |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Joshi Badamikar and Company Chartered Accountants |
|
Address : |
G-2, Kore Universal, Near Railway Gate, Vishrambag, Sangli – 416415, Maharashtra, India. |
|
Income-tax
PAN of auditor or auditor's firm : |
ABAFS8274M |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
415000 |
Equity Shares |
Rs.10/- each |
Rs.4.150
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
4.150 |
4.150 |
|
(b) Reserves & Surplus |
|
54.547 |
45.702 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
4.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
62.697 |
49.852 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
54.943 |
72.320 |
|
(b) Deferred tax liabilities (Net) |
|
10.767 |
11.943 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
2.223 |
29.419 |
|
Total Non-current Liabilities (3) |
|
67.933 |
113.682 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
202.527 |
223.243 |
|
(b) Trade payables |
|
241.090 |
226.523 |
|
(c) Other current
liabilities |
|
26.529 |
34.280 |
|
(d) Short-term provisions |
|
11.761 |
6.574 |
|
Total Current Liabilities (4) |
|
481.907 |
490.620 |
|
|
|
|
|
|
TOTAL |
|
612.537 |
654.154 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
128.040 |
138.905 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
12.650 |
12.650 |
|
(iv)
Intangible assets under development |
|
3.758 |
3.430 |
|
(b) Non-current Investments |
|
0.101 |
0.101 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
6.937 |
39.180 |
|
(e) Other Non-current assets |
|
1.112 |
1.112 |
|
Total Non-Current Assets |
|
152.598 |
195.378 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
194.437 |
218.123 |
|
(c) Trade receivables |
|
162.488 |
154.229 |
|
(d) Cash and cash
equivalents |
|
2.730 |
1.427 |
|
(e) Short-term loans and
advances |
|
93.601 |
84.618 |
|
(f) Other current assets |
|
6.683 |
0.379 |
|
Total Current Assets |
|
459.939 |
458.776 |
|
|
|
|
|
|
TOTAL |
|
612.537 |
654.154 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
4.150 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
65.371 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
69.521 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
243.415 |
|
|
2] Unsecured Loans |
|
|
7.067 |
|
|
TOTAL BORROWING |
|
|
250.482 |
|
|
DEFERRED TAX LIABILITIES |
|
|
7.692 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
327.695 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
142.073 |
|
|
Capital work-in-progress |
|
|
12.785 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
2.776 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
Other Non-Current Assets |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
111.110
|
|
|
Sundry Debtors |
|
|
76.714
|
|
|
Cash & Bank Balances |
|
|
20.012
|
|
|
Other Current Assets |
|
|
0.350
|
|
|
Loans & Advances |
|
|
54.280
|
|
Total
Current Assets |
|
|
262.466 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
56.660
|
|
|
Other Current Liabilities |
|
|
0.967
|
|
|
Provisions |
|
|
34.795
|
|
Total
Current Liabilities |
|
|
92.422 |
|
|
Net Current Assets |
|
|
170.044
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.017 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
327.695 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
|
|
|
Net Sales |
|
|
252.793 |
|
|
|
Other Income |
|
|
13.751 |
|
|
|
Increase/ Decrease in Stock |
|
|
18.392 |
|
|
|
TOTAL |
707.932 |
508.576 |
284.936 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
679.589 |
505.126 |
284.416 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
28.343 |
3.450 |
0.520 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
17.233 |
18.868 |
8.632 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
11.110 |
(15.418) |
(8.112) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.046 |
4.251 |
5.942 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
10.064 |
(19.669) |
(14.054) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
45.702 |
65.371 |
79.425 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
55.766 |
45.702 |
65.371 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
320.392 |
267.957 |
74.924 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
20.211 |
39.445 |
21.652 |
|
|
TOTAL IMPORTS |
20.211 |
39.445 |
21.652 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
24.25 |
(47.40) |
(33.87) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.42
|
(3.87) |
(4.93)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
(3.21)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.86
|
(2.42) |
(2.01)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
(0.31) |
(0.12)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
4.11
|
5.93 |
3.60
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.95
|
0.94 |
2.84
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
4.150 |
4.150 |
|
Reserves & Surplus |
45.702 |
54.547 |
|
Net
worth |
49.852 |
58.697 |
|
|
|
|
|
Long-term borrowings |
72.320 |
54.943 |
|
Short term borrowings |
223.243 |
202.527 |
|
Total
borrowings |
295.563 |
257.470 |
|
Debt/Equity
ratio |
5.929 |
4.386 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
284.936 |
508.576 |
707.932 |
|
|
|
78.488 |
39.199 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
284.936 |
508.576 |
707.932 |
|
Profit |
(14.054) |
(19.669) |
10.064 |
|
|
(4.93%) |
(3.87%) |
1.42% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
31.03.2010 (Rs.
In Millions) |
|
Current Maturities
of Long Term Debts |
|
|
|
|
Axis Bank Term Loan |
1.427 |
|
|
|
Axis Bank Car Loan |
0.456 |
0.000 |
|
|
Bank of Baroda – Term Loan |
19.916 |
18.384 |
|
|
Total |
21.799
|
32.508 |
NA |
|
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 |
Yes |
|
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 |
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 |
No |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10414003 |
23/03/2013 |
15,000,000.00 |
BANK OF BARODA |
MIRAJ BRANCH, HIGH SCHOOL ROAD, MIRAJ - 416410, MAHARASHTRA, INDIA |
B71513279 |
|
2 |
10414010 |
23/03/2013 |
70,000,000.00 |
BANK OF BARODA |
MIRAJ BRANCH, HIGH SCHOOL ROAD, MIRAJ - 416410, MAHARASHTRA, INDIA |
B71516256 |
|
3 |
10205091 |
10/02/2010 * |
87,300,000.00 |
BANK OF BARODA |
MIRAJ BRANCH, HIGH SCHOOL ROAD, MIRAJ - 416410, MAHARASHTRA, INDIA |
A81022444 |
|
4 |
10205092 |
23/03/2013 * |
155,000,000.00 |
BANK OF BARODA |
MIRAJ BRANCH, HIGH SCHOOL ROAD, MIRAJ - 416410, MAHARASHTRA, INDIA |
B71518724 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Deferred payment liabilities (Sales Tax) |
6.918 |
7.067 |
|
Cicaqo Commodities Private Limited |
3.000 |
0.000 |
|
SHORT TERM
BORROWINGS |
|
|
|
Axis Bank C/A 11990 |
0.350 |
(0.367) |
|
Bank of Baroda-C/A 319 |
4.743 |
(1.022) |
|
Axis Bank Ca/C 6071 |
10.417 |
3.958 |
|
Deferred payment liabilities (Sales Tax) |
0.149 |
0.000 |
|
Other loan and advances (Advance for Office Place KLP) |
2.200 |
0.000 |
|
Total |
27.777 |
9.636 |
|
NOTE LONG TERM
BORROWINGS Deferred payment liabilities mentioned above relates to Sales Tax Deferral Loan as per Package Scheme of Incentives which is due after one year from the reporting period ended. SHORT TERM
BORROWINGS Deferred payment liabilities mentioned above relates to Sales Tax Deferral Loan as per package Scheme of incentives which is due within one year from the reporting period ended. |
||
CHANGE OF ADDRESS
The registered office of the company has been shifted from A-22, Shri Ram
Apartment Opposite Ram Mandir, Nadives Road, Ichalkaranji – 416115,
Maharashtra, India to the present address w.e.f. 22.01.2007.
FUTURE OUTLOOK AND
MARKET CONDITIONS:
Despite recessionary conditions in the economy and general slowdown in the global markets; total turnover of the company has increased considerably as compared to previous year. The management is hopeful that on an improved general economic scenario company could witness further increase in the turnover of the company in the coming future.
FIXED ASSETS
· Land
Office
Building
Factory
Building
Plant
and Machinery
Furniture
Computer
Vehicle
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.61.98 |
|
|
1 |
Rs.103.31 |
|
Euro |
1 |
Rs.85.14 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.