MIRA
INFORM REPORT
|
Report Date : |
15.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
JMD TELEFILMS INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
Jaisingh Business Centre, Ground Floor, CTS No. 119,
Parsiwada, Sahar Road, Andheri (East), Mumbai – 400099, Maharashtra |
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Country : |
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|
Financials (as
on) : |
31.03.2013 |
|
|
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|
Date of
Incorporation : |
01.12.2000 |
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|
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|
Com. Reg. No.: |
11-033180 |
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Capital
Investment / Paid-up Capital : |
Rs.72.146 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L67190MH2000PLC033180 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMJ15662D |
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|
|
PAN No.: [Permanent Account No.] |
AAACA4340C |
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Legal Form : |
A Public Limited
Liability Company. The Company’s
Shares are Listed on the Stock Exchanges. |
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Line of Business
: |
The Company was into the business of Music Recording
(Entertainment Industry), Software (Mobile Applications) Trading, Trading of
Mobile Instruments and Accessories as well as Investment activity in Capital
Market. |
|
|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1500000 |
|
|
|
|
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 a moderate track record. There appears some dip in the profitability of the company during
current year. Profit margin of the company also appears to be low. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow but correct. The company can be considered for business dealings 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.
ECGC Country Risk Classification List – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International Finance
Corporation expects to come out with its rupee linked bonds issue before the
end of 2013 as a part of its plan to raise $ 1 billion. The Apple iPhone 5c (Rs
41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has been launched
in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED BY
Management Non Co-Operative (Tel No.: 91-22-65653453)
LOCATIONS
|
Registered Office : |
Jaisingh Business Centre, Ground Floor, CTS No. 119, Parsiwada,
Sahar Road, Andheri (East), Mumbai – 400099, Maharashtra, India |
|
Tel. No.: |
91-22-65643453/65653453 |
|
Fax No.: |
91-22-42957734 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Studio : |
75C,Park Street,
Basement, Kolkata – 700016, West Bengal, India |
|
Tel. No.: |
91-33-22299198/5359 |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Kailash Prasad Purohit |
|
Designation : |
Chairman and Managing Director |
|
|
|
|
Name : |
Mr. Jagdish Prasad Purohit |
|
Designation : |
Executive Director |
|
Date of Birth /
Age: |
24.02.1958 |
|
Qualifications : |
B. Com., LLB |
|
Date of Appointment
: |
22.03.2007 |
|
Experience : |
30 Years |
|
Other Directorship
: |
·
Unisys Softwares and Holding Industries Limited ·
Warner Multimedia Limited ·
Scan Infrastructure Limited |
|
|
|
|
Name : |
Mr. Pravin Sawant |
|
Designation : |
Independent Director |
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|
|
|
Name : |
Mr. Ashok Bothra |
|
Designation : |
Independent Director |
SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No.
of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
500000 |
0.69 |
|
|
2300000 |
3.19 |
|
|
12500000 |
17.33 |
|
|
12500000 |
17.33 |
|
|
15300000 |
21.21 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
15300000 |
21.21 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
41629761 |
57.70 |
|
|
|
|
|
|
3700685 |
5.13 |
|
|
10543039 |
14.61 |
|
|
972515 |
1.35 |
|
|
14218 |
0.02 |
|
|
954675 |
1.32 |
|
|
3622 |
0.01 |
|
|
56846000 |
78.79 |
|
Total Public shareholding (B) |
56846000 |
78.79 |
|
Total (A)+(B) |
72146000 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
72146000 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company was into the business of Music Recording
(Entertainment Industry), Software (Mobile Applications) Trading, Trading of
Mobile Instruments and Accessories as well as Investment activity in Capital Market. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
|
|
|
|
Bankers : |
· Axis Bank Limited · Kotak Mahindra Bank · HDFC Bank ·
Union Bank of India |
|
|
|
|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Mehta Kothari and Associates Chartered Accountants |
|
Address : |
134, Great Western Building, 2nd Floor, N. M. Road, Fort,
Mumbai-400023, Maharashtra, India |
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|
|
|
Subsidiary Company
: |
JMD Broadcasting Private Limited |
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|
Company under same management
: |
JMD Sounds Limited. |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000000 |
Equity Shares |
Re.1/- each |
Rs.150.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
72146000 |
Equity Shares |
Re.1/- each |
Rs.72.146 Millions |
Reconciliation of
the number of shares
|
Equity Shares |
Number
of Shares |
|
Shares outstanding at the beginning of the year |
72146000 |
|
Shares issued during the year |
- |
|
Shares
outstanding at the end of the year |
72146000 |
Rights,
preference and restrictions attached to Equity Shares
The Company has one class
of Equity Shares having a par value of Re.1/- each. Each shareholder is
eligible to one vote per share held.
The Dividend proposed by
the Board of Directors is subject to the approval of the Shareholders in the
ensuring Annual General Meeting and will be paid in Indian Rs.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
72.146 |
72.146 |
72.146 |
|
(b) Reserves & Surplus |
296.566 |
293.708 |
283.358 |
|
(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) |
368.712 |
365.854 |
355.504 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
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) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
765.733 |
612.362 |
545.492 |
|
(c) Other current
liabilities |
75.210 |
71.744 |
17.592 |
|
(d) Short-term provisions |
7.491 |
14.682 |
14.561 |
|
Total Current Liabilities (4) |
848.434 |
698.788 |
577.645 |
|
|
|
|
|
|
TOTAL |
1217.146 |
1064.642 |
933.149 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4.431 |
4.865 |
3.959 |
|
(ii) Intangible Assets |
45.050 |
52.780 |
38.528 |
|
(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 |
143.329 |
121.190 |
85.441 |
|
(c) Deferred tax assets (net) |
0.610 |
0.708 |
0.889 |
|
(d) Long-term Loan and Advances |
0.060 |
0.188 |
0.022 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
193.480 |
179.731 |
128.839 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
8.400 |
8.400 |
0.000 |
|
(c) Trade receivables |
31.703 |
32.854 |
61.683 |
|
(d) Cash and cash
equivalents |
758.088 |
586.131 |
511.721 |
|
(e) Short-term loans and
advances |
7.697 |
11.848 |
38.341 |
|
(f) Other current assets |
217.778 |
245.678 |
192.565 |
|
Total Current Assets |
1023.666 |
884.911 |
804.310 |
|
|
|
|
|
|
TOTAL |
1217.146 |
1064.642 |
933.149 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2497.297 |
2483.874 |
997.854 |
|
|
|
Other Income |
13.932 |
13.069 |
37.561 |
|
|
|
TOTAL |
2511.229 |
2496.943 |
1035.415 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
2482.901 |
2439.765 |
987.478 |
|
|
|
Employee Benefits Expenses |
2.802 |
4.696 |
2.203 |
|
|
|
Other Expenses |
6.644 |
21.739 |
7.575 |
|
|
|
TOTAL |
2492.347 |
2466.200 |
997.256 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
18.882 |
30.743 |
38.159 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
8.533 |
5.264 |
2.611 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
10.349 |
25.479 |
35.548 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.299 |
6.743 |
6.914 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
7.050 |
18.736 |
28.634 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
40.619 |
30.768 |
11.019 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
3.607 |
7.215 |
7.215 |
|
|
|
Corporate Tax on above Dividend |
0.585 |
1.170 |
1.170 |
|
|
|
Transfer to General Reserve |
0.500 |
0.500 |
0.500 |
|
|
BALANCE CARRIED
TO THE B/S |
42.977 |
40.619 |
30.768 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stock in trade |
23.686 |
116.936 |
39.219 |
|
|
TOTAL IMPORTS |
23.686 |
116.936 |
39.219 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.10 |
0.26 |
0.40 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.28 |
0.75 |
2.77 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.41 |
1.03 |
3.56 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.96 |
2.70 |
4.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.07 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21 |
1.27 |
1.39 |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
CHARGES:
|
ENTITY |
COMPETENT
AUTHORITY |
REGULATORY
CHARGES |
REGULATORY
ACTION(S) / DATE OF ORDER |
FURTHER
DEVELOPMENTS |
|
JMD TELEFILMS INDUSTRIES LIMITED |
SEBI |
DID NOT MAKE DISCLOSURE OF SHAREHOLDING/CHANGES IN SHAREHOLDING
TO COMPANY AND STOCK EXCHANGES AS REQUIRED UNDER REGULATION 7(1) READ WITH
7(2) OF SEBI TAKEOVER CODE, 1997 READ WITH REGULATION 35(2) OF SAST
REGULATIONS, 2011 IN MATTER OF LIVINGROOM LIFESTYLE LIMITED (NOW KNOWN AS
CHISEL AND HAMMER (MOBEL) LIMITED) |
IMPOSED PENALTY RS.50,000 |
INCLUDED IN SEBI LIST DATED 30/09/2013, AS DEFAULTER IN
PAYMENT OF PENALTY IMPOSED BY SEBI |
OVERVIEW
OF ECONOMY
According
to the latest estimates, Indian Economy grew by 5% in FY 2013, reflecting lower
than expected growth in both industry and services sectors. Inflation also was
at elevated levels. However with commodity and crude oil prices on the decline
from the peak and with various policy initiatives coming through, the Economy
is estimated to grow by around 6% in FY2014 with lower Inflation.
OVERALL
PERFORMANCE AND OUTLOOK
The
Business environment remains extremely challenging and the recessionary
economic conditions leading to slowdown in demand and inflation pushed scale up
of input costs left its adverse imprint on overall performance for 2012-2013.
Gross Sales / Revenue has been increased during the year in comparison to last
financial year but overall Net Profit has come down significantly due to lack
of demand as well as pressure of huge import of Mobile & Mobile Accessories
from China. The Earning has been beaten down solely by Mobile Phones &
Accessories which was the topmost earning tool during last financial year.
In
spite of difficult times, the Company, based on its intrinsic strength, has
broadly maintained its performance. Gross income from operations remained
satisfactory to an amount of Rs.7.050 Millions during the year in comparison to
last years' income of Rs.18.735 Millions.
The
Company is in to the Business of Music recording, trading of Imported Mobile
Instruments and Accessories and Software's as well as investment activities
Capital Market.
The outlook
for the current year is challenging mainly due to sluggish economy. However,
your Company expects to grow despite the adverse environment due to its
commitment to clients of the Company.
MACRO
ECONOMIC ENVIRONMENT
The
year 2012 had been a year of slow growth world over and as per IMF forecast
Global Economy is likely to show a growth of 3.3% during 2013 as compared to
growth of 3.2% during 2012. The Global Economies witnessed a subdued growth
with diverging growth paths across major economies. US economy which has
registered a modest recovery is again subject to the adverse impact of the
budget sequestration which will gradually gain pace during 2013. Japan's
economy has shown signs of improvement on account of monetary and fiscal
stimulus undertaken. The sovereign debt crises and the danger of a banking
system meltdown in peripheral euro zone countries coupled with contraction in
its major economies like Germany has resulted in negative growth in Euro zone.
The
growth in the Emerging Market Economies which are viewed as growth engines of
the world economy world over have also slowed down with Brazil and South Africa
registering accelerated growth where as Russia, China and India a lower growth.
According
to the Central Statistics Office's advance estimate of GDP growth, Indian
Economy is expected to grow at 5% during the year 2012-13 as compared to a
growth of 6.21% registered during 2011-12. This has been mainly on account of
week industrial activity compounded by domestic supply bottlenecks and slackening
of external demand. This has also slowdown the growth in the service sector
which has been the main driver of the growth.
The
Reserve Bank of India in order to strike a balance in growth- inflation
dynamics have initiated various measures during 2012-2013 to provide greater
liquidity to financial system. This has resulted in moderating the headline
inflation within its acceptable level. The food inflation as measured by new
combined (rural and urban) consumer price index (CPI) remains in double digit
is a cause of concern. The measures initiated are expected to result in
moderate growth in GDP in the second half of 2013-2014.
REVIEW
OF OPERATIONS
During
the financial year 2012-2013, the Company registered a gross sale/ income of
Rs.2511.894 Millions as compared to Rs.2496.943 Millions in previous financial
year. PBT Margin remains at Rs.10.579 Millions in comparison to last years'
figure of Rs.25.479 Millions whereas Net Profit remains at Rs.7.050 Millions in
comparison to last years' figure of Rs.18.735 Millions, decline of about 62% in
comparison to last years' performance.
In term
of Segmental Operations, the Company has earned a Profit before Tax (PBT) of
Rs.5.981 Millions from Mobile Application Software, Rs.3.100 Millions from
Music CDs and Studio Rent, Rs.1.078 Millions from Investment Activities, and
Rs.3.554 Millions from Other activities. However the Company has suffered a
loss of Rs.3.331 Millions from Mobile & Mobile Accessories trading in
comparison to last years' profit of Rs.12.579 Millions from the same segment.
Further
the Company has proposed a Dividend @ 5% to its Members and therefore, has
provided sum of Rs.4.192 Millions for payment of Dividend including Tax
thereon. The Dividend will be payable subject to confirmation by Members in
ensuring Annual General Meeting.
NOTE: NO CHARGES EXIST FOR THE
COMPANY
FIXED ASSETS:
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Studio Equipment
·
Brands/Trademarks
·
Computer Software
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.61.52 |
|
|
1 |
Rs.101.48 |
|
Euro |
1 |
Rs.84.11 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
29 |
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.