MIRA
INFORM REPORT
|
Report Date : |
11.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
RAVI TECHNOFORGE PRIVATE LIMITED (w.e.f.19.05.2009) |
|
|
|
|
Formerly Known
As : |
SAURASHTRA IRON FORGING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
S. No. 50P/1,
Behind Toll Plaza, National Highway-27, Village Pipaliya, Taluka Kotda
Sangani, Gondal - 360311, Gujarat |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
22.02.1990 |
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|
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Com. Reg. No.: |
04-013398 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs. 244.915 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100GJ1990PTC013398 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RKTS01189G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS1608N |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business
: |
Manufacturer and Exporter of Bearing Races, Auto Parts and Other
Forged Components with CNC Finished Turning. |
|
|
|
|
No. of Employees
: |
225 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1470000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Reserves of the company appears to be low. 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. |
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
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term loan BB- |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
April, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term non fund based limits A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
April, 2013 |
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
|
Name : |
Mr. Chetan Gandhi |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-2827-270425 |
|
Date : |
10.01.2014 |
LOCATIONS
|
Registered Office/ Factory 1 : |
S. No. 50P/1, Behind
Toll Plaza, National Highway-27, Village Pipaliya, Taluka Kotda Sangani,
Gondal - 360311, Gujarat, India |
|
Tel. No.: |
91-2827-270425/ 26 |
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Fax. No.: |
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E-Mail : |
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Website : |
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Location : |
Owned |
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|
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Branch Office/ Factory 2 : |
Survey No. 211, Plot No. 7/8, Veraval (Sharpar) Industrial Area, |
|
Tel. No.: |
91-2827-252193/ 252194/ 252463 |
|
Fax No.: |
91-2827-252894 |
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E-Mail : |
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|
Location : |
Owned |
DIRECTORS
As on 28.09.2013
|
Name : |
Mr. Amrutlal Khimjibhai Bharadia |
|
Designation : |
Whole-time director |
|
Address : |
Ronak, 6, Ashtron Society, Plot - 131, Rajkot, Gujarat, India |
|
Date of Birth/Age : |
17.10.1951 |
|
Date of Appointment : |
20.09.2011 |
|
PAN No.: |
ABPPB8021J |
|
DIN No.: |
00279153 |
|
|
|
|
Name : |
Mrs. Ranjanben Amrutlal Bharadia |
|
Designation : |
Whole-time director |
|
Address : |
Ronak, 6 Ashtron Society, Plot No. 131, Rajkot, Gujarat, India |
|
Date of Birth/Age : |
26.10.1954 |
|
Date of Appointment : |
20.09.2011 |
|
PAN No.: |
ABPPB8083J |
|
DIN No.: |
00371426 |
|
|
|
|
Name : |
Mr. Rajeshkumar Khimjibhai Bharadia |
|
Designation : |
Whole-time director |
|
Address : |
Raj, 138-Ashtron Society, Rajkot – 360001, Gujarat, India |
|
Date of Birth/Age : |
23.11.1973 |
|
Date of Appointment : |
20.09.2011 |
|
PAN No.: |
ABTPB8591M |
|
DIN No.: |
02016210 |
|
|
|
|
Name : |
Mrs. Kunjanben Rajeshkumar Bharadia |
|
Designation : |
Whole-time director |
|
Address : |
138, Ashtron Society, Road - 5, Near Kalawad Road, Rajkot - 360005,
Gujarat, India |
|
Date of Birth/Age : |
01.06.1976 |
|
Date of Appointment : |
20.09.2011 |
|
PAN No.: |
ACDPB3678E |
|
DIN No.: |
02081240 |
|
|
|
|
Name : |
Senthilarumugam Thiruvadi |
|
Designation : |
Nominee Director |
|
Address : |
A3, 313 Sneha Apartment Gadavari Block, National Games Village, Karamangala,
Bangalore – 560047, Karnataka, India |
|
Date of Birth/Age : |
23.02.1956 |
|
Date of Appointment : |
27.12.2011 |
|
DIN No.: |
03431263 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2013
|
Names of Shareholders |
No. of Shares |
|
Amrutlal K Bharadia |
880264 |
|
Shantilal Baradia |
22600 |
|
Jagdish Bharadia |
141100 |
|
Rajeshbhai Bharadia |
2825441 |
|
Rajanben Amrutlal Bharadia |
1139962 |
|
Hansaben Bharadia |
75000 |
|
Chandrika Valambia |
7000 |
|
Ranmalbhai Khunti |
12250 |
|
Mahendrabhai Dasani |
7000 |
|
Ratilal G. Panchasara |
10500 |
|
Narendra Valambia |
10500 |
|
Harishbhai Vaghadia |
7000 |
|
Kunjanben Bharadia |
1417107 |
|
Amrutlal K Bharadia - HUF |
238072 |
|
Anjali Bharadia |
180500 |
|
Anitaben Bharaqdia |
73315 |
|
Chandravadan Gajjar |
50002 |
|
Harkant Popatlal Anadkat |
45001 |
|
Kirtiben V. Vadgama |
16300 |
|
Vasumatiben Vadgama |
20002 |
|
Vimalbhai Vadgama |
30052 |
|
Kishorbhai Khambhayata |
184000 |
|
Ramniklal Shamji Bakrania |
10001 |
|
Hemantlal K. Bakranla |
1 |
|
Kishorbhai H. Bokranla |
1 |
|
Vrajlal Govindbhai Kharecha |
125001 |
|
Manojbhai Vadilal Gandhi |
1 |
|
Ishwarlal J. Jogani |
1 |
|
Jeevanlal J Jagani |
1 |
|
Dhirajlal G Hirapara |
250001 |
|
Jitendra G. Hirapara |
125000 |
|
Canbank Venure Capital Fund Limited, India |
415944 |
|
|
|
|
Total |
8318920 |
|
Names of Preference Shareholders |
No. of Shares |
|
|
|
|
Vakil Yadav |
1052530* |
|
Deepak Davde |
659750* |
|
Naresh Sonar |
500200* |
|
Canbank Venure Capital Fund Limited, India |
13960140** |
|
|
|
|
Total |
16172620 |
NOTE:
*6% Non-Cumulative Redeemable Preference
Shares of Rs. 10/- without voting power and redeemable within 20 years of the
option of board of directors.
** 12.5% Optionally Convertible Cumulative
Preference Shares of Rs. 10/- each fully paid.
As on 28.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Venture Capital |
5.00 |
|
Directors or relatives of Directors |
82.30 |
|
Other top fifty shareholders |
12.70 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Bearing Races, Auto Parts and Other
Forged Components with CNC Finished Turning. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
Ø France Ø USA Ø Germany |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Ø China Ø Japan |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Mukund Limited,
Mumbai (91-22-6121666 [Ringing]) |
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Customers : |
End Users ·
SKF India
Limited, Pune (91-20-66112214) Reported: Mr. Suresh (Account
Executive) told that the relation with the company is excellent. ·
FAG Bearing
India Limited, Vadodara (91-265-6602000 [Ringing]) |
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No. of Employees : |
225 (Approximately) |
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Bankers : |
Ø Bank of India, Bhakti Nagar (SSI), 7/11, Bhaktinagar
Station Plot, Rajkot – 360002, Gujarat, India [Tel No.: 91-281-2461582] Ø HDFC Bank
Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai -
400013, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Ranpura Desai and Company Chartered Accountants |
|
Address : |
Star Avenue, 1st
Floor, Dr Radhakrishnan Road, Opposite Rajkumar College, Rajkot – 360001,
Gujarat, India |
|
PAN
No. : |
AAAAA0000A |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
Rs. 10/- each |
Rs. 110.000 Millions |
|
16500000 |
Preference Shares |
Rs. 10/- each |
Rs. 165.000 Millions |
|
|
Total |
|
Rs. 275.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8318920 |
Equity Shares |
Rs. 10/- each |
Rs. 83.189
Millions |
|
16172620 |
Preference Shares |
Rs. 10/- each |
Rs. 161.726
Millions |
|
|
Total |
|
Rs. 244.915 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 |
244.915 |
244.915 |
101.155 |
|
(b) Reserves & Surplus |
122.721 |
106.080 |
94.015 |
|
(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) |
367.636 |
350.995 |
195.170 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
314.871 |
266.557 |
233.447 |
|
(b) Deferred tax liabilities (Net) |
44.391 |
9.922 |
2.313 |
|
(c) Other long term liabilities |
298.239 |
282.042 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
657.501 |
558.521 |
235.760 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
308.438 |
220.153 |
152.256 |
|
(b) Trade payables |
156.734 |
122.255 |
137.846 |
|
(c) Other current
liabilities |
152.036 |
99.207 |
54.994 |
|
(d) Short-term provisions |
14.850 |
9.596 |
7.789 |
|
Total Current Liabilities (4) |
632.058 |
451.211 |
352.885 |
|
|
|
|
|
|
TOTAL |
1657.195 |
1360.727 |
783.815 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1045.456 |
390.953 |
203.497 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
48.708 |
492.885 |
88.168 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
66.638 |
60.814 |
22.246 |
|
Total Non-Current Assets |
1160.802 |
944.652 |
313.911 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
15.402 |
1.476 |
1.482 |
|
(b) Inventories |
137.891 |
140.854 |
131.680 |
|
(c) Trade receivables |
285.311 |
185.969 |
189.980 |
|
(d) Cash and cash
equivalents |
5.089 |
0.775 |
0.166 |
|
(e) Short-term loans and
advances |
52.265 |
82.392 |
143.217 |
|
(f) Other current assets |
0.435 |
4.609 |
3.379 |
|
Total Current Assets |
496.393 |
416.075 |
469.904 |
|
|
|
|
|
|
TOTAL |
1657.195 |
1360.727 |
783.815 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
740.221 |
702.195 |
637.092 |
|
|
|
Other Income |
12.791 |
12.204 |
8.174 |
|
|
|
TOTAL (A) |
753.012 |
714.399 |
645.266 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
609.427 |
608.992 |
543.684 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
143.585 |
105.407 |
101.582 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
80.862 |
47.470 |
30.294 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
62.723 |
57.937 |
71.288 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
(26.897) |
32.696 |
23.385 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
89.620 |
25.241 |
47.903 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
52.669 |
10.509 |
15.261 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
36.951 |
14.732 |
32.642 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
EURO-32,52,219.91 USD 1,29,971.20 |
EURO -30,88,000.45 USD --1,20,649.39 |
Euro – 3196060.49 USD – 79470 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials (Steel) |
USD -159080.10 |
USD-15353 |
Euro- 174351.34 USD-4531.84 |
|
|
|
Packing Material |
EURO -118500 |
EURO-172900 |
-- |
|
|
|
Capital Goods (Machinery) |
EURO -340000 JPY- 3925000 USD- 316300 |
EURO-155000 JPY -559040322 -- |
-- |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.51 |
0.60 |
3.23 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.91
|
2.06 |
5.06 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.11
|
3.59 |
7.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.57
|
2.91 |
6.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.07 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.69
|
1.39 |
1.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.78
|
0.92 |
1.33 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
Current maturities of long term debts |
107.655 |
81.853 |
22.189 |
|
|
|
|
|
|
Total |
107.655 |
81.853 |
22.189 |
|
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 |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if
available |
Yes |
NOTE:
The registered office of the company has been shifted from Survey No. 211,
Plot No. 7/8, Veraval (Sharpar) Industrial Area, Rajkot Gondal Highway, Rajkot –
360024, Gujarat, India to present address w.e.f.29.09.2012
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Interoperate borrowing |
22.500 |
0.000 |
|
Loan and advance from related parties |
44.481 |
7.893 |
|
Other loan and advances |
6.932 |
9.178 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Loan and advance from related parties |
10.165 |
20.022 |
|
|
|
|
|
Total |
84.078 |
37.093 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10413495 |
30/01/2013 |
1,260,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI,
Maharashtra - 400013, INDIA |
B71353197 |
|
2 |
10348979 |
31/05/2011 |
3,700,000.00 |
RELIANCE CAPITAL LTD |
"H" BLOCK 1ST FLOOR, Dhirubhai Ambani Knowledge City, Koparkhairne,
Navi Mumbai, Maharashtra - 400710, INDIA |
B21820733 |
|
3 |
10151620 |
16/10/2012 * |
1,011,300,000.00 |
State Bank of India |
Commercial Branch, Noble House, Near Jalaram Petrol Pump, Kalawad
Road, Rajkot, Gujarat - 360001, INDIA |
B62631916 |
* Date of charge modification
REVIEW OF OPERATION
The financial year
ended 31st March, 2013 remained moderate in terms of sales and profitability
due to overall recession and availability of enhanced manufacturing capacity during
second half of the financial year. During the year, the company has achieved
Total Net Revenue from operation of Rs. 753.000 millions as compared to Rs.
714.400 millions of the corresponding previous year. Likewise, the profit
before taxation and prior period item was Rs. 91.700 millions as compared to
Rs. 24.200 millions of the previous year and Net profit after tax was Rs.
36.900 millions As compared to Rs. 14.700 millions of previous year.
Considering the useful life of the assets of the company and to state the fair
value of the assets, the company has changed depreciation method from Written
down Value to Straight Line Method during the year. The resultant difference is
adjusted in current year's depreciation figure.
FIXED ASSETS
Ø
Land
Ø
Buildings
Ø
Office building
Ø
Factory building
Ø
Plant and equipment
Ø
Other plant and equipment
Ø
Furniture and fixtures
Ø
Vehicles
Ø
Motor vehicles
Ø
Office equipment
Ø
Computer Equipments
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.61.94 |
|
|
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.30 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.