|
Report Date : |
15.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
MITTAL APPLIANCES LIMITED (w.e.f. 15.09.1995) |
|
|
|
|
Formerly Known
As : |
MITTAL APPLIANCES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 13, 1st Floor, Swastik Industrial Estate, 178, Vidyanagari
Marg, Kalina, Mumbai – 400098, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
19.01.1985 |
|
|
|
|
Com. Reg. No.: |
11-174619 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.21.920 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28122MH1985PLC174619 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM1903A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture and Exporter of Aluminum Utensils. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1456000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Trade relations are reported as decent. Business is active. Payment terms
are reported as usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
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 |
CARE |
|
Rating |
Long Term Bank Facilities: BBB |
|
Rating Explanation |
Moderate degree of safety. It carry moderate
credit risk. |
|
Date |
March 07, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities: A3+ |
|
Rating Explanation |
Moderate degree of safety. It carry higher
credit risk. |
|
Date |
March 07, 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 (GENERAL DETAILS)
|
Name : |
Karan Chaudhary |
|
Designation : |
Account Executive |
|
Contact No.: |
91-731-3011800 |
|
Date : |
13.01.2014 |
LOCATIONS
|
Registered Office : |
Unit No.13, 1st Floor, Swastik Industrial Estate, 178, Vidyanagari
Marg, Kalina, Mumbai – 400098, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head/ Corporate Office : |
303, Apollo Trade Centre, Geeta Bhavan Square, A.B. Road, Indore –
452001, Madhya Pradesh, India |
|
Tel. No.: |
91-731-3091800 |
|
Fax No.: |
91-731-3044753 |
|
Location : |
Owned |
|
|
|
|
Factory 2: |
Plot No.75, Industrial Area No. II, Pithampur, Dhar – 454775, Madhya
Pradesh, India |
|
Tel No.: |
91-7292-329590/ 93 |
|
Fax No.: |
91-7292-256738 |
|
E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Dinesh Chand Mittal |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
Manak 15A/22, |
|
Date of Birth/Age : |
04.02.1951 |
|
Qualification : |
MBA Finance |
|
Experience : |
32 years |
|
Date of Appointment : |
01.08.1990 |
|
DIN No.: |
00127385 |
|
|
|
|
Name : |
Mr. Anshul Mittal |
|
Designation : |
Executive Director |
|
Address : |
Manak 15A/22, |
|
Date of Birth/Age : |
27.07.1977 |
|
Qualification : |
B.S. in Industrial Engineering |
|
Experience : |
12 years |
|
Date of Appointment : |
01.01.1996 |
|
DIN No.: |
00139786 |
|
PAN No.: |
AFDPM4778H |
|
|
|
|
Name : |
Mr. Anil Kumar Sharma |
|
Designation : |
Director |
|
Address : |
EK-293, Scheme No. 54, Vijay Nagar, Indore-452010, |
|
Date of Birth/Age : |
28.03.1968 |
|
Date of Appointment : |
09.02.2007 |
|
DIN No.: |
00216361 |
|
|
|
|
Name : |
Mr. Harsh Kumar Maheshwary |
|
Designation : |
Director |
|
Address : |
502-B, Manavsthal II, Gokul Dham, Goregaon (East), Mumbai-400063,
Maharashtra, India |
|
Date of Birth/Age : |
04.02.1950 |
|
Date of Appointment : |
10.03.2005 |
|
DIN : |
00088660 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Equity Shares |
|
Rajrani Mittal |
460000 |
|
Anshul Mittal |
252000 |
|
Dinesh Chand
Mittal (HUF) |
67000 |
|
Ankit Mittal |
275000 |
|
Rajshree Finsec Private
Limited, India |
100000 |
|
Rajshree Overseas
Private Limited, |
50000 |
|
Network Capital Market Limited, |
150000 |
|
Shweta Mittal |
38000 |
|
Manavhit Developers Private Limited, |
20000 |
|
Ananya Buildcon and Real Estate Private Limited, |
20000 |
|
Dharohar Infrastructure Private Limited, |
20000 |
|
Treasure Buildcon Private Limited, |
20000 |
|
Feel Home Real Estate Private Limited, |
20000 |
|
Anshul Developers Private Limited, India |
200000 |
|
|
|
|
Total |
1692000 |
|
Names of Shareholders |
No. of Preferences Shares |
|
|
|
|
Anshul Developers Private Limited, India |
500000 |
|
|
|
|
Total |
500000 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
35.46 |
|
Directors or relatives of Directors |
64.54 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and Exporter of Aluminum Utensils. |
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Products : |
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Exports : |
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||||||||
|
Products : |
Finished Goods |
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Countries : |
Germany Dubai |
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|
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Imports : |
|
||||||||
|
Products : |
Raw Material |
||||||||
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Countries : |
Germany Dubai Kuwait |
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Terms : |
|
||||||||
|
Selling : |
Cash and Credit |
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|
||||||||
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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|
|||||||||||||||||||||||||||
|
No. of Employees : |
150 (Approximately) |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Bankers : |
·
UCO Bank Gram Pipliahana, Tilak Nagar, ·
Bank of India Mid Corporate Branch, · ICICI Bank Indore, Madhya Pradesh, India · Axis Bank 1, Kamal Palace, Y. N. Road, Indore - 452001, Madhya Pradesh,
India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. Mehta and Company Chartered Accountants |
|
Address : |
11/5, South Tukoganj, Nath Mandir Road, Indore – 452001, Madhya
Pradesh, India |
|
Tel. No.: |
91-731-4065948/ 2511011/ 2511022 (O)/ 2431713/ 2523117 |
|
Mobile No.: |
91-9826294918 |
|
Fax No.: |
91-731-2523117 |
|
PAN No.: |
AAGFM2167A |
|
Website : |
|
|
|
|
|
Associate
Companies |
· Ganagaram Mohanlal Mittal and Sons · Anshul Devlopers Private Limited · Manavhit Finvest Builders Private Limited · Antardhara Estate and Finvest Private Limited · Mittal Utensils Private Limited · Manak Utensils Private Limited · Mangalmaya Estate and Finvest Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
500000 |
10% Non-Cumulative Redeemable Preferences
Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.155.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1692000 |
Equity Shares |
Rs.10/- each |
Rs.16.920
Millions |
|
500000 |
Preferences Shares |
Rs.10/- each |
Rs.5.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.21.920 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 |
21.920 |
21.920 |
21.920 |
|
(b) Reserves & Surplus |
342.226 |
271.848 |
224.785 |
|
(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) |
364.146 |
293.768 |
246.705 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
185.991 |
134.609 |
135.339 |
|
(b) Deferred tax liabilities (Net) |
24.358 |
25.674 |
26.418 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
7.575 |
6.080 |
5.758 |
|
Total Non-current Liabilities (3) |
217.924 |
166.363 |
167.515 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
213.760 |
494.962 |
210.830 |
|
(b) Trade payables |
287.435 |
727.526
|
678.427
|
|
(c) Other current
liabilities |
57.185 |
48.022
|
34.900
|
|
(d) Short-term provisions |
4.786 |
4.148
|
9.773
|
|
Total Current Liabilities (4) |
563.166 |
1274.658 |
933.930 |
|
|
|
|
|
|
TOTAL |
1145.236 |
1734.789 |
1348.150 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
152.706 |
159.937 |
160.313 |
|
(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 |
25.473 |
24.170 |
23.031 |
|
(e) Other Non-current assets |
0.000 |
0.538 |
2.292 |
|
Total Non-Current Assets |
178.179 |
184.645 |
185.636 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
215.011 |
367.946
|
275.217
|
|
(c) Trade receivables |
385.078 |
640.615
|
552.563
|
|
(d) Cash and cash
equivalents |
183.483 |
403.760
|
211.137
|
|
(e) Short-term loans and
advances |
153.669 |
124.309 |
103.145 |
|
(f) Other current assets |
29.816 |
13.514 |
20.452 |
|
Total Current Assets |
967.057 |
1550.144 |
1162.514 |
|
|
|
|
|
|
TOTAL |
1145.236 |
1734.789 |
1348.150 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4591.148 |
3732.456 |
2929.984 |
|
|
|
Other Income |
43.329 |
21.266 |
9.918 |
|
|
|
TOTAL (A) |
4634.477 |
3753.722 |
2939.902 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
4034.519 |
3354.250 |
2431.984 |
|
|
|
Purchases of stock-in-trade |
0.000 |
178.573 |
89.256 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
183.903 |
(133.305) |
135.469 |
|
|
|
Employee benefit expense |
36.521 |
31.728 |
29.012 |
|
|
|
Other Expenses |
172.682 |
174.375 |
132.497 |
|
|
|
TOTAL (B) |
4427.625 |
3605.621 |
2818.218 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
206.852 |
148.101 |
121.684 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
92.043 |
61.242 |
62.119 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
114.809 |
86.859 |
59.565 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.058 |
11.341 |
11.348 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
101.751 |
75.518 |
48.217 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
29.248 |
24.806 |
17.882 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
72.503 |
50.712 |
30.335 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
117.326 |
72.863 |
52.720 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2.600 |
2.600 |
2.000 |
|
|
|
Proposed Dividend (Including Tax Thereon) |
3.531 |
3.531 |
3.193 |
|
|
BALANCE CARRIED
TO THE B/S |
183.675 |
117.326 |
72.863 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1018.200 |
461.700 |
266.300 |
|
|
TOTAL EARNINGS |
1018.200 |
461.700 |
266.300 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
42.51 |
29.63 |
19.94 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.56
|
1.35
|
1.03
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.22
|
2.02
|
1.65
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.89
|
4.35
|
3.58
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.26
|
0.20
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.8
|
2.14
|
1.40
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.72
|
1.22
|
1.24
|
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 Maturity of Long Term Borrowings |
35.240 |
15.499 |
18.202 |
|
|
|
|
|
|
Total |
35.240
|
15.499
|
18.202 |
|
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 |
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, 402, Meridian Apartment, 3rd Wing, Veera Desai Road, Andheri
(West), Mumbai – 400058, Maharashtra, to the present address w.e.f. 01.04.2013
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advance from directors |
55.938 |
61.513 |
|
Loans and advance from others |
54.174 |
50.434 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advance from related parties |
1.024 |
1.141 |
|
|
|
|
|
Total |
111.136 |
113.088 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured
|
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10418496 |
27/02/2013 |
100,000,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
One Forbes, Dr. V. B. Gandhi Marg, Fort, Mumbai, |
B72809668 |
|
2 |
10282765 |
10/10/2012 * |
2,343,700,000.00 |
UCO Bank Consortium |
Tilak Nagar, Gram Pipliahana, Indore, Madhya Pradesh - 452001, INDIA |
B63253355 |
|
3 |
10289531 |
25/04/2011 |
18,800,000.00 |
Bank of India |
MCB Indore, 3rd Floor, 345-A, PU-4, Scheme No.54, Indore, Madhya
Pradesh - 452010, INDIA |
B14001432 |
|
4 |
10031910 |
24/11/2006 |
100,000,000.00 |
UCO BANK |
PIPLIAHANA BRANCH, TILAK NAGAR, INDORE, Madhya Pradesh - 452018, INDIA
|
A09067968 |
* Date of charge modification
PERFORMANCE
The total
Production of Copper Alloys, Coin Blanks, Strips and others Products during the
year was 8346 MT as compared to 6777 MT during last year. With the improvement in
the global economy and ongoing Coinage order from the India Government Mint,
the company achieved higher Sales and profitability during this year. The Sales
and Profit after Tax is Rs.5134.385 millions and Rs. 72.503 millions
respectively as compared to Rs. 4083.184 millions and Rs. 50.712 millions
during last year. The company is hopeful to continue to perform better in the
Current year.
FIXED ASSETS
·
Land
·
Factory Building
·
Plant and Machinery
·
Scooter
·
Computer
·
Photo Copier
·
Laboratory Equipment
·
Dies and Moulds
·
Motor Cars
·
Fax
·
Office Equipment
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 : |
HET |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.