MIRA INFORM REPORT
|
Report Date : |
02.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
ARISUDANA INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
B-XXIX /143, Giaspura Road, G.T. Road, Ludhiana – 141003, Punjab |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
18.12.1995 |
|
|
|
|
Com. Reg. No.: |
16-017453 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.84.381 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24123PB1995PLC017453 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JLDA01602G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA2449K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the manufacturing and processing of
acrylic and polyester yarn and trading of Knitted Cloth. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1209000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating reflects AIL’s established marked position in the yarn industry
marked by sound financial risk profile and fair profitability levels of the
company. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered 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.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year
before.A sharp fall in gold imports due to restrictions on overseas purchases
and muted import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of the
global e-commerce giant Amazon. The company raised $ 210 million from Russian
Investment firm DST Global which has also invested in companies like Facebook,
Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB- (Long term rating) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
May 21, 2014 |
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. Garg |
|
Designation : |
Chartered Accountant |
|
Contact No.: |
91-9814701476 |
|
Date : |
28.06.2014 |
LOCATIONS
|
Registered Office : |
B-XXIX /143, |
|
Tel. No.: |
91-161-2542488/ 5028859/ 2536823 |
|
Mobile No.: |
91-9814701476 (Mr. Garg) |
|
Fax No.: |
91-161-2530015 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
VPO, Jaspalon, Tehsil Khanna, Ludhiana – 141401, Punjab, India |
|
Tel. No.: |
91-1628-245104/ 245304 |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Gagan Khanna |
|
Designation : |
Whole – Time Director |
|
Address : |
164/10, Singhpura, Barewal Colony Abadi, |
|
Date of Birth/Age : |
31.10.1962 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.04.2010 |
|
PAN No.: |
ACYPK9144R |
|
DIN No.: |
00601358 |
|
|
|
|
Name : |
Mr. Kewal Kumar Khanna |
|
Designation : |
Whole – Time Director |
|
Address : |
164/10, Singhpura, Barewal Colony Abadi, |
|
Date of Birth/Age : |
20.06.1934 |
|
Qualification : |
Under Graduate |
|
Date of Appointment : |
01.04.2010 |
|
PAN No.: |
ALCPK0772G |
|
DIN No.: |
00601404 |
|
|
|
|
Name : |
Mr. Sidharth Khanna |
|
Designation : |
Whole – Time Director |
|
Address : |
164/10, Singhpura, Barewal Colony Abadi, |
|
Date of Birth/Age : |
03.11.1987 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
06.04.2010 |
|
PAN No.: |
AQPRK7438P |
|
DIN No.: |
03081356 |
|
|
|
|
Name : |
Mr. Surinder Mohan Jalota |
|
Designation : |
Director |
|
Address : |
Olympic Wollen Mills, |
|
Date of Birth/Age : |
29.03.1939 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
07.05.2002 |
|
DIN No.: |
00871110 |
|
|
|
|
Name : |
Mr. Hariesh Chander Kaura |
|
Designation : |
Whole – Time Director |
|
Address : |
304 G, BRS Nagar, |
|
Date of Birth/Age : |
25.02.1964 |
|
Date of Appointment : |
01.04.2009 |
|
PAN No.: |
ABEPK6346A |
|
DIN No.: |
01271528 |
KEY EXECUTIVES
|
Name : |
Mr. Garg |
|
Designation : |
Chartered Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Gagan Khanna |
|
3004232 |
|
Kawel Khanna |
|
1325991 |
|
Nomita Khanna |
|
623680 |
|
Sidharth Khanna |
|
2915337 |
|
Gagan Khanna HUF |
|
129757 |
|
Kawel Khanna HUF |
|
103806 |
|
Daljeet Puri |
|
380 |
|
Harish Chander Kaura |
|
480 |
|
Suresh Chowdry |
|
38000 |
|
Sanjiv Sharma |
|
38000 |
|
Sushma Aggarwal |
|
38000 |
|
Sandeep Aulakh |
|
30400 |
|
Harish Arora |
|
190000 |
|
|
|
|
|
Total |
|
8438063 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
96.00 |
|
Other top fifty shareholders |
|
4.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the manufacturing and processing of
acrylic and polyester yarn and trading of Knitted Cloth. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, L/C and Credit |
|
|
|
|
Purchasing : |
Cash, L/C and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
500 (Approximately) |
|||||||||||||||||||||
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|||||||||||||||||||||
|
Bankers : |
Tel No.: 91-161-2510345
|
|||||||||||||||||||||
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|
|||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dass Khanna and Company Chartered Accountants |
|
Address : |
B-XX-2815, Gurdev Nagar, Pakhowal Road , Ludhiana – 141001, Punjab, India |
|
Tel. No.: |
91-161-2403029 |
|
Fax No.: |
91-161-2409672 |
|
PAN No.: |
AABED5151G |
|
|
|
|
Other Related Parties : |
Gopaljee Spinners |
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 |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8438063 |
Equity Shares |
Rs.10/- each |
Rs.84.381 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 |
84.381 |
74.000 |
74.000 |
|
(b) Reserves & Surplus |
217.986 |
182.634 |
181.077 |
|
(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) |
302.367 |
256.634 |
255.077 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
450.582 |
235.007 |
146.482 |
|
(b) Deferred tax liabilities
(Net) |
17.434 |
12.208 |
16.370 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
2.585 |
2.047 |
1.838 |
|
Total
Non-current Liabilities (3) |
470.601 |
249.262 |
164.690 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
197.853 |
67.842 |
94.360 |
|
(b) Trade payables |
45.814 |
34.988 |
23.715 |
|
(c) Other current liabilities |
88.375 |
48.385 |
44.198 |
|
(d) Short-term provisions |
0.925 |
0.781 |
0.596 |
|
Total
Current Liabilities (4) |
332.967 |
151.996 |
162.869 |
|
|
|
|
|
|
TOTAL |
1105.935 |
657.892 |
582.636 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
662.545 |
253.257 |
292.892 |
|
(ii) Intangible Assets |
0.211 |
0.352 |
0.000 |
|
(iii) Capital work-in-progress |
4.107 |
22.098 |
0.140 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
4.684 |
4.684 |
4.684 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
31.488 |
77.723 |
54.422 |
|
(e) Other Non-current assets |
0.048 |
0.000 |
0.362 |
|
Total
Non-Current Assets |
703.083 |
358.114 |
352.500 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
119.535 |
112.805 |
146.209 |
|
(c) Trade receivables |
180.304 |
136.565 |
57.113 |
|
(d) Cash and cash equivalents |
3.984 |
18.108 |
0.958 |
|
(e) Short-term loans and
advances |
77.139 |
21.433 |
16.407 |
|
(f) Other current assets |
21.890 |
10.867 |
9.449 |
|
Total
Current Assets |
402.852 |
299.778 |
230.136 |
|
|
|
|
|
|
TOTAL |
1105.935 |
657.892 |
582.636 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
1488.670 |
1345.481 |
1091.973 |
|
|
Other Income |
4.688 |
0.708 |
0.263 |
|
|
TOTAL
(A) |
1493.358 |
1346.189 |
1092.236 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1088.795 |
964.024 |
881.354 |
|
|
Purchases of Stock-in-Trade |
61.414 |
183.334 |
7.385 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(10.229) |
(51.121) |
(23.409) |
|
|
Employees benefits expense |
17.569 |
13.336 |
13.514 |
|
|
Other expenses |
226.156 |
159.823 |
137.170 |
|
|
TOTAL
(B) |
1383.705 |
1269.396 |
1016.014 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
109.653 |
76.793 |
76.222 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
33.781 |
25.046 |
21.598 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
75.872 |
51.747 |
54.624 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
60.799 |
49.253 |
45.456 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
15.073 |
2.494 |
9.168 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
5.340 |
0.937 |
5.500 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
9.733 |
1.557 |
3.668 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
490.799 |
122.569 |
65.429 |
|
|
|
|
|
|
|
|
TOTAL
IMPORTS |
NA |
5.885 |
4.264 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
1.31 |
0.21 |
0.66 |
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
2100.000 |
|
|
|
|
|
The above information has been parted by Mr. Garg
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.65 |
0.12 |
0.34 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.01 |
0.19 |
0.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.37 |
0.40 |
1.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.01 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.14 |
1.18 |
0.94 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21 |
1.97 |
1.41 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
74.000 |
74.000 |
84.381 |
|
Reserves & Surplus |
181.077 |
182.634 |
217.986 |
|
Net
worth |
255.077 |
256.634 |
302.367 |
|
|
|
|
|
|
long-term borrowings |
146.482 |
235.007 |
450.582 |
|
Short term borrowings |
94.360 |
67.842 |
197.853 |
|
Total
borrowings |
240.842 |
302.849 |
648.435 |
|
Debt/Equity
ratio |
0.944 |
1.180 |
2.145 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1091.973 |
1345.481 |
1488.670 |
|
|
|
23.216 |
10.642 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1091.973 |
1345.481 |
1488.670 |
|
Profit |
3.668 |
1.557 |
9.733 |
|
|
0.34% |
0.12% |
0.65% |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last four 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 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG-TERM
BORROWINGS |
|
|
|
Rupee term loans from banks |
4.283 |
6.242 |
|
Loans and advances from others |
64.537 |
112.256 |
|
|
|
|
|
Total |
68.820 |
118.498 |
FINANCIAL RESULTS
During the year under consideration the turnover of the company is Rs.1493.358 Millions, higher by 10.93% over the turnover of Rs. 1346.189 Millions in previous year. Net profit is Rs.15.074 Millions for the period under consideration. The Export turnover of the company is Rs. 503.232 Millions through direct or indirect export against the export of s. 122.569 Millions in previous year. Company is exploring new markets to enhance the export turnover and profitability of the company.
FIXED ASSETS
Tangible Assets
- Land
- Building
- Machinery
- Furniture and Fixtures
- Office Equipments
- Plant and Equipments
- Computer equipments
Intangible Assets
- 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.60.14 |
|
|
1 |
Rs.102.83 |
|
Euro |
1 |
Rs.82.28 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
|
45 |
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.