MIRA INFORM REPORT
|
Report Date : |
03.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
MTC BUSINESS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
401, 4th Floor, Navkar Commercial Complex, Sir M.V Road,
Andheri (East), Mumbai – 400069, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation
: |
21.12.2000 |
|
|
|
|
Com. Reg. No.: |
11-130172 |
|
|
|
|
Paid-up Capital
: |
Rs. 95.040
Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51420MH2000PTC130172 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMM14831F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCM4795M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader and
Importer of Metal Scrap. |
|
|
|
|
No. of Employees
: |
50 (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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a flagship company of the “MTC Group”. It is an established company having
satisfactory track record. The company possesses a moderate financial profile marked by reduced profitability,
moderate capital structure along with working capital intensive operations. However, management has reported a healthy growth in its revenue
during FY13. Trade relations are fair. Business is active. Payment terms are reported
as usually correct. In view of experience of the promoters, the subject 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 |
ICRA |
|
Rating |
BBB- (Long Term Fund Based Limits) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
December 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
A3 (Short Term
Non Fund Based Facilities) |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
December 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Naman Jain |
|
Designation : |
Senior Finance Manager |
|
Contact No.: |
91-9167774111 |
LOCATIONS
|
Registered Office : |
401, 4th Floor, Navkar Commercial Complex, Sir M.V Road,
Andheri (East), Mumbai – 400069, Maharashtra, India |
|
Tel. No.: |
91-22-67872900 |
|
Mobile No.: |
91-9167774111 (Mr. Naman Jain) |
|
Fax No.: |
91-22-67410875/ 67250964 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Warehouse: |
Plot No.44 to 47,
Jawahar Co-Operative Industrial Estate, Village Kamothe, Kalamboli, District,
Raigad, Maharashtra, India |
|
Tel No.: |
91-22-27420912/27423755 |
|
Fax No.: |
91-22-27423855 |
|
Email : |
|
|
|
|
|
Branch Office 1 : |
Plot No. 15,
Opposite Baba Sitaram Weighbridge, Azak Industrial Area, Tal Dehgam, District
Gandhinagar, Gujarat, India |
|
|
|
|
Branch Office 2 : |
VI A, Calve Chateau Nilgiris Super Market Building, 808 Poonamallee
High Road, Kilpauk, Chennai - 600010, Tamilnadu,
India |
|
|
|
|
Branch Office : |
Also Located at
|
DIRECTORS
As on: 16.09.2013
|
Name : |
Mr. Narendra Mehta |
|
Designation : |
Director |
|
Address : |
601-602, A Wing,
Jay Shankar Krupa Housing Society Limited, |
|
Date of Birth/Age : |
10.12.1965 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
21.12.2000 |
|
PAN No.: |
AABPM6765B |
|
DIN No.: |
00179992 |
|
|
|
|
Name : |
Mr. Sanjay Mehta |
|
Designation : |
Director |
|
Address : |
A/602, A Wing,
Jay Shankar Krupa Housing Society Limited, Old Nagardas Road, Andheri (East),
Mumbai – 400069, Maharashtra, India |
|
Date of Birth/Age : |
14.05.1968 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
02.04.2001 |
|
PAN No.: |
AACPM6147L |
|
DIN No.: |
00541528 |
|
|
|
|
Name : |
Mr. Lalit Baliya |
|
Designation : |
Director |
|
Address : |
C-302, Gajalaxmi Apartment, Kolsawala Compound, |
|
Date of Birth/Age : |
26.10.1967 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
03.03.2007 |
|
PAN No.: |
AABPB1937A |
|
DIN No.: |
00282727 |
KEY EXECUTIVES
|
Name : |
Mr. Naman Jain |
|
Designation : |
Senior Finance Manager |
|
|
|
|
Name : |
Mr. Ankit Parekh |
|
Designation : |
Secretary |
|
Address : |
C-403, New Nikita Apartment, Opposite Shimpoli Tel. Exchange,
Shimpoli, Borivali (West), Mumbai – 400092, Maharashtra, India |
|
Date of Birth/Age : |
17.04.1988 |
|
Date of Appointment : |
27.03.2013 |
|
PAN No.: |
AOSPP3162Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 16.09.2013
|
Names of Shareholders |
No. of Shares |
|
Maganlal
Mehta |
3202000 |
|
Narendra Mehta |
802000 |
|
Sanjay Mehta |
800000 |
|
Manoj Mehta |
4700000 |
|
|
|
|
TOTAL |
9504000 |
Equity Share Break up (Percentage of Total Equity)
As on: 16.09.2013
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and
Importer of Metal Scrap. |
|
|
|
|
Imports : |
|
|
Products : |
Metal Scrap |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees
: |
50 (Approximately) |
|||||||||||||||||||||
|
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|
|||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A.T. Jain and
Company Chartered
Accountants |
|
Address : |
212, Rewa Chambers,
31 New Marine Lines, Mumbai – 400020, Maharashtra, India |
|
Tel. No.: |
91-22-22035151/
22035252 |
|
Fax No.: |
91-22-22083820 |
|
E-Mail : |
|
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AABFA2587P |
|
|
|
|
Associates : |
U99999PN1997PTC109372
U27320KA2004PTC034057
U51502MH2004PTC146683
U50300MH2008PTC183718 |
|
|
|
|
Subsidiary
Company : |
|
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9504000 |
Equity Shares |
Rs.10/- each |
Rs.95.040 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 |
95.040 |
95.040 |
95.040 |
|
(b) Reserves & Surplus |
852.778 |
748.193 |
629.443 |
|
(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) |
947.818 |
843.233 |
724.483 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
227.755 |
255.508 |
210.693 |
|
(b) Deferred tax liabilities
(Net) |
5.161 |
1.043 |
0.760 |
|
(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) |
232.916 |
256.551 |
211.453 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
2796.691 |
2541.573 |
1323.657 |
|
(b) Trade payables |
249.281 |
311.349 |
245.493 |
|
(c) Other current liabilities |
95.730 |
86.108 |
123.445 |
|
(d) Short-term provisions |
3.382 |
1.542 |
17.494 |
|
Total
Current Liabilities (4) |
3145.084 |
2940.572 |
1710.089 |
|
|
|
|
|
|
TOTAL |
4325.818 |
4040.356 |
2646.025 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
242.274 |
58.569 |
49.477 |
|
(ii) Intangible Assets |
0.456 |
0.200 |
0.300 |
|
(iii) Capital work-in-progress |
0.000 |
160.508 |
76.712 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
48.710 |
48.709 |
3.084 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
62.405 |
57.836 |
8.337 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
353.845 |
325.822 |
137.910 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
7.326 |
21.180 |
16.197 |
|
(b) Inventories |
892.814 |
1347.089 |
540.421 |
|
(c) Trade receivables |
2108.792 |
1321.811 |
873.549 |
|
(d) Cash and cash equivalents |
576.353 |
522.991 |
339.216 |
|
(e) Short-term loans and
advances |
340.365 |
463.677 |
725.686 |
|
(f) Other current assets |
46.323 |
37.786 |
13.046 |
|
Total
Current Assets |
3971.973 |
3714.534 |
2508.115 |
|
|
|
|
|
|
TOTAL |
4325.818 |
4040.356 |
2646.025 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Total Revenue |
12010.683 |
11174.495 |
8028.900 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
7938.900 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
151.039 |
153.839 |
241.700 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
11.252 |
5.616 |
4.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
139.787 |
148.223 |
236.900 |
|
|
|
|
|
|
|
|
|
|
TAX |
35.203 |
29.333 |
83.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
104.584 |
118.890 |
153.800 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Dividend Income |
13.813 |
12.958 |
NA |
|
|
TOTAL EARNINGS |
13.813 |
12.958 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
11.00 |
NA |
NA |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
15500.000 |
|
|
|
|
|
The above information has been parted by Mr. Naman Jain
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.27 |
3.87 |
9.23 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.17 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.19 |
3.32 |
2.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26 |
1.26 |
1.47 |
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 |
95.040 |
95.040 |
95.040 |
|
Reserves & Surplus |
629.443 |
748.193 |
852.778 |
|
Net
worth |
724.483 |
843.233 |
947.818 |
|
|
|
|
|
|
long-term borrowings |
210.693 |
255.508 |
227.755 |
|
Short term borrowings |
1,323.657 |
2,541.573 |
2,796.691 |
|
Total
borrowings |
1,534.350 |
2,797.081 |
3,024.446 |
|
Debt/Equity
ratio |
2.118 |
3.317 |
3.191 |
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) |
|
Total Revenue |
8,028.900 |
11,174.495 |
12,010.683 |
|
|
|
39.178 |
7.483 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Revenue |
8,028.900 |
11,174.495 |
12,010.683 |
|
Profit |
153.800 |
118.890 |
104.584 |
|
|
1.92% |
1.06% |
0.87% |
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 |
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 |
UNSECURED
LOAN
(Rs. In Millions)
|
Particular
|
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG-TERM
BORROWINGS |
|
|
|
Intercorporate deposits |
70.000 |
60.000 |
|
Loans and advances from directors |
156.462 |
195.508 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Intercorporate deposits |
67.000 |
8.000 |
|
Loans and advances from related parties |
35.367 |
0.000 |
|
|
|
|
|
Total |
328.829 |
263.508 |
Note:
Registered office of the company has been
shifted from 301-302, Vertex Vikas,
A Wing, Opposite Railway Station, Andheri (East), Mumbai – 400 069,
Maharashtra, India to the present address
w.e.f 04.03.2013
PERFORMANCE REVIEW :-
During the year the company has achieved total revenue of Rs. 12010.683 Millions as compared to Rs. 11174.495 Millions in the previous year thereby posting an increase by 7.5%. The company has earned net profit of Rs. 104.584 Millions during the year as against profit of Rs. 118.890 Millions. The profit of the company was slightly affected due to increase in purchase costs and depreciation amount. However, with vast experience in the industry and their constant efforts, your Directors are confident of achieving higher growth in the coming years.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10459058 |
25/03/2014 * |
1,000,000,000.00 |
Others |
UNION BANK OF INDIA, SIR M.V. ROAD, ANDHERI (EAST), MUMBAI, MAHARASHTRA - 400069, INDIA |
C02642890 |
|
2 |
80018324 |
25/03/2014 * |
4,710,000,000.00 |
Others |
UNION BANK OF INDIA, SIR M.V. ROAD, ANDHERI (EAST), MUMBAI, MAHARASHTRA - 400069, INDIA |
C02642759 |
|
3 |
90145614 |
05/06/2013 * |
488,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B77564623 |
|
4 |
90144130 |
25/03/2014 * |
565,000,000.00 |
Others |
UNION BANK OF INDIA, SIR M.V. ROAD, ANDHERI (EAST), MUMBAI, MAHARASHTRA - 400069, INDIA |
C02641496 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Other
building
- Plant and
equipment
- Other plant
and equipment
- Furniture and
fixtures
- Vehicles
- Motor
vehicles
- Office
equipment
- Computer
equipments
- Other
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.59.97 |
|
|
1 |
Rs.102.90 |
|
Euro |
1 |
Rs.82.02 |
INFORMATION DETAILS
|
Information Gathered
by : |
NAY |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
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 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
NO |
|
--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.