|
Report Date : |
24.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
MILK FOOD LIMITED |
|
|
|
|
Registered
Office : |
P. O. Bahadurgarh, District Patiala – 147021, Punjab |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
31.03.1973 |
|
|
|
|
Com. Reg. No.: |
16-003746 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 48.852 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L15201PB1973PLC003746 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELM06050G DEML10741D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM5913B |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of Milk Dairy Products |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1200000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Profitability 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.
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
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 |
Fund Based Limits = BB |
|
Rating Explanation |
Moderate risk of default and high credit risk |
|
Date |
August, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non-Fund Based Limits = A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
August, 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.
LOCATIONS
|
Registered Office / Factory 1 : |
P. O. Bahadurgarh, District |
|
Tel. No.: |
91-175-2380001 / 2380002 / 2381404 |
|
Fax No.: |
91-175-2380248 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
5th Floor , Bhandari House, 91, |
|
Tel. No.: |
91-11-26460670 /01/02/03/04/ 26463773 |
|
Fax No.: |
91-11-26460823 |
|
E-Mail : |
sectl@milkfoodltd.com
( For Investor Queries) |
|
|
|
|
Factory 2 : |
Village Mugalpur URF Aghwanpur Mustakam, |
|
Tel. No.: |
91-591-3295605, 3954054 |
|
E-Mail : |
|
|
|
|
|
Factory 3 (DAIRY PLANT) : |
Jagatjit Nagar, District Kapurthala, |
|
Tel. No.: |
91-181-2237934 |
|
E-Mail : |
DIRECTORS
As on 27.09.2013
|
Name : |
Mr. Suresh Alipuria |
|
Designation : |
Director |
|
Address : |
H. No. 122, Seth Hukam Chand Colony, Jalandhar – 144001, Haryana, India |
|
Date of Birth/Age : |
03.11.1958 |
|
Qualification : |
Chartered Accountant |
|
Date of Appointment : |
27.03.2006 |
|
DIN No.: |
00113422 |
|
PAN No.: |
AALPA8054H |
|
|
|
|
Name : |
Mr. Amarjeet Kapoor |
|
Designation : |
Director |
|
Address : |
G-16, Lajpat Nagar-111, New Delhi – 110024, India |
|
Date of Birth/Age : |
13.05.1961 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.06.2011 |
|
DIN No.: |
00122843 |
|
PAN No.: |
AAFPK3167K |
|
|
|
|
Name : |
Ms. Asha Gadi |
|
Designation : |
Director |
|
Address : |
F-73, Kalkaji Ground Floor, New Delhi – 110019, India |
|
Date of Birth/Age : |
23.07.1953 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
07.10.2002 |
|
DIN No.: |
00110734 |
|
PAN No.: |
AEGPG5656J |
|
|
|
|
Name : |
Mr. Kewal Krishan Kohli |
|
Designation : |
Director |
|
Address : |
185, Sector 5, Vaishali, Ghaziabad – 201010, Uttar Pradesh, India |
|
Date of Birth/Age : |
20.08.1952 |
|
Qualification : |
CS, LLB, ICWA |
|
Date of Appointment : |
01.09.2008 |
|
DIN No.: |
00127337 |
|
PAN No.: |
AFZPK2156H |
KEY EXECUTIVES
|
Name : |
Mr. Rishbha Ahluwalia |
|
Designation : |
Secretary |
|
Address : |
Villa No. 16, F.F, Block IV,Eros Garden, Charmwood Village, Near
Surajkund, Faridabad – 121009, Haryana, India |
|
Date of Birth/Age : |
20.02.1979 |
|
Date of Appointment : |
01.08.2012 |
|
PAN No. : |
AGIPA5202E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2013
SHAREHOLDING DETAILS FILE ATTACHED
As on 27.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
3.92 |
|
Bodies corporate |
29.44 |
|
Other top fifty shareholders |
51.71 |
|
Other |
14.87 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Milk Dairy Products |
||||||||||||
|
|
|
||||||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
· Canara Bank, Prime Corporate Branch, Connaught Place, 2nd Floor, World Trade Tower, Barakhamba Lane, New Delhi - 110001, India · Kotak Mahindra Prime Limited, 36-38A Nariman Bhavan, 227, Nariman Point,, Mumbai - 400021, Maharashtra, India · State Bank of Patiala (Lead Bank), Commercial Branch, Chandralok Building, 36, Janpath, New Delhi - 110001, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Madan and Associates Chartered Accountants |
|
Address : |
Flat No. 1003, 10th Floor, Kailash Building, Kasturba Gandhi Marg, New Delhi-110001, India |
|
Tel. No.: |
91-11-30487347 |
|
Fax No.: |
91-11-23327345 |
|
E-Mail : |
|
|
PAN No.: |
AADPB9559L |
|
|
|
|
Associate : |
Jagatjit Industries Limited |
|
|
|
|
Wholly Owned
Subsidiary : |
MFL Trading Private Limited |
CAPITAL STRUCTURE
As on 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs.75.000 Millions |
|
50000 |
Preference Cumulative Preference Shares |
Rs.100/- each |
Rs.5.000 Millions |
|
|
Total |
|
Rs.80.000
Millions |
Issued Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4887890 |
Equity Shares |
Rs.10/- each
|
Rs.48.879
Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4886440 |
Equity Shares |
Rs.10/- each
|
Rs.48.864
Millions |
|
|
Less : Calls in arrears |
|
Rs.0.019
Million |
|
|
Add: Amount paid on 1450 Forfeited Shares |
|
Rs.0.007
Millions |
|
|
Total |
|
Rs.48.852 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 |
48.852 |
48.852 |
48.853 |
|
(b) Reserves & Surplus |
275.848 |
269.048 |
263.232 |
|
(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) |
324.700 |
317.900 |
312.085 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
231.500 |
336.800 |
415.167 |
|
(b) Deferred tax liabilities (Net) |
22.000 |
21.000 |
16.449 |
|
(c) Other long term liabilities |
504.000 |
338.900 |
190.936 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
757.500 |
696.700 |
622.552 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
487.300 |
381.500 |
242.299 |
|
(b) Trade payables |
266.900 |
426.000 |
231.510 |
|
(c) Other current
liabilities |
207.900 |
168.000 |
242.133 |
|
(d) Short-term provisions |
0.200 |
0.200 |
0.145 |
|
Total Current Liabilities (4) |
962.300 |
975.700 |
716.087 |
|
|
|
|
|
|
TOTAL |
2044.500 |
1990.300 |
1650.724 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
901.200 |
766.900 |
810.091 |
|
(ii) Intangible Assets |
35.200 |
41.200 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
75.000 |
12.374 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
42.700 |
42.700 |
42.640 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
31.500 |
16.700 |
62.239 |
|
(e) Other Non-current assets |
6.700 |
4.900 |
4.001 |
|
Total Non-Current Assets |
1017.300 |
947.400 |
931.345 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
751.300 |
816.300 |
428.723 |
|
(c) Trade receivables |
103.600 |
50.000 |
72.373 |
|
(d) Cash and cash
equivalents |
8.900 |
18.100 |
17.401 |
|
(e) Short-term loans and
advances |
163.400 |
158.500 |
200.882 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
1027.200 |
1042.900 |
719.379 |
|
|
|
|
|
|
TOTAL |
2044.500 |
1990.300 |
1650.724 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3354.000 |
3045.900 |
3079.398 |
|
|
|
Other Income |
3.900 |
4.300 |
11.018 |
|
|
|
TOTAL (A) |
3357.900 |
3050.200 |
3090.416 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2645.700 |
2799.000 |
2465.762 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
99.100 |
(380.300) |
89.677 |
|
|
|
Employee benefit expense |
99.200 |
93.000 |
92.318 |
|
|
|
Other expenses |
344.400 |
362.200 |
316.344 |
|
|
|
Prior period items |
(0.300) |
(0.100) |
(0.588) |
|
|
|
Extraordinary items |
0.000 |
(0.100) |
0.000 |
|
|
|
TOTAL (B) |
3188.100 |
2873.700 |
2963.513 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
169.800 |
176.500 |
126.903 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
116.500 |
112.200 |
125.566 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
53.300 |
64.300 |
1.337 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
42.700 |
49.500 |
46.788 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
10.600 |
14.800 |
(45.451) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.900 |
9.000 |
6.218 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
6.700 |
5.800 |
(51.669) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods calculated on FOB basis |
496.800 |
0.000 |
245.179 |
|
|
TOTAL EARNINGS |
496.800 |
0.000 |
245.179 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.38 |
1.19 |
10.57 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.20
|
0.19 |
(1.67) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.32
|
0.49 |
(1.48) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.53
|
0.79 |
(2.85) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.05 |
(0.15) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.21
|
2.26 |
2.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07
|
1.07 |
1.00 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
OPERATIONS
During the period, the Company’s sales and other income are Rs.3357.900 Millions and cash profit is Rs.53.205 Millions as compared to last year’s figures of Rs.3050.200 Millions and cash profit of Rs.64.288 Millions respectively. After depreciation, the profit for the year is Rs. 10.600 Millions as compared to the profit of Rs.14.800 Millions in the previous year.
UNSECURED LOAN
Rs. In
Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long-term
borrowings |
|
|
|
Rupee term loans from others |
207.300 |
243.500 |
|
Total |
207.300 |
243.500 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10469018 |
06/12/2013 |
120,000,000.00 |
CANARA BANK |
PRIME CORPORATE BRANCH, CONNAUGHT PLACE, 2ND FLOOR, WORLD TRADE
TOWER, BARAKHAMBA LANE, NEW DELHI, |
B93048221 |
|
2 |
10433865 |
31/05/2013 |
50,000,000.00 |
KOTAK MAHINDRA PRIME LIMITED |
36-38A NARIMAN BHAVAN,, 227, NARIMAN POINT,, MUMBAI, MAHARASHTRA - 400021, INDIA |
B78294162 |
|
3 |
10395835 |
17/12/2012 |
80,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH, CHANDRALOK BUILDING, 36, JANPATH, NEW DELHI, DELHI - 110001, INDIA |
B65460123 |
|
4 |
10339967 |
11/02/2012 |
30,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH, CHANDRALOK BUILDING, 36, JANPATH, NEW DELHI, DELHI - 110001, INDIA |
B34032359 |
|
5 |
10226316 |
04/10/2010 * |
150,000,000.00 |
CANARA BANK |
PCB-II, 2ND FLOOR, WORLD TRADE TOWER, BARAKHAMBA LANE, NEW DELHI, DELHI - 110001, INDIA |
A96343348 |
|
6 |
10212405 |
12/04/2013 * |
535,000,000.00 |
STATE BANK OF PATIALA (LEAD BANK) |
COMMERCIAL BRANCH, CHANDRALOK BUILDING, 36, JANPATH, NEW DELHI, DELHI - 110001, INDIA |
B74183153 |
|
7 |
10113268 |
20/03/2008 |
80,000,000.00 |
STATE BANK OF PATIALA |
COMMERCIAL BRANCH, CHANDRALOK BUILDING, 36, JANPATH, NEW DELHI, DELHI - 110001, INDIA |
A35193317 |
|
8 |
90183221 |
12/04/2013 * |
725,000,000.00 |
STATE BANK OF PATIALA (LEAD BANK) |
COMMERCIAL BRANCH, CHANDRALOK BUILDING, 36, JANPATH, NEW DELHI, DELHI - 110001, INDIA |
B75097840 |
|
9 |
90182750 |
10/09/2004 * |
47,000,000.00 |
STATE BANK OF PATIALA |
INDUSTRIAL FINANCE BRANCH, WORLD TRADE CENTRE, NEW DELHI, DELHI, INDIA |
- |
|
10 |
90179166 |
02/04/1991 * |
91,536,550.00 |
STATE BANK OF PATIALA |
28; KASTURBA GANDHI MARG, NEW DELHI, DELHI - 110001, INDIA |
- |
|
11 |
90177186 |
11/07/1989 * |
47,031,000.00 |
STATE BANK OF PATIALA |
28; KASTURBA GANDHI MARG, NEW DELHI, DELHI - 110001, INDIA |
- |
* Date of charge modification
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
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.61.99 |
|
|
1 |
Rs.102.62 |
|
Euro |
1 |
Rs.83.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
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 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.