MIRA
INFORM REPORT
|
Report Date : |
04.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
NASH INDUSTRIES (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
236-237/2, 8th Main, 3rd Cross, 2nd Phase, Peenya Industrial Area, Bangalore - 560 058, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
04.04.2012 |
|
|
|
|
Com. Reg. No.: |
08-063429 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.50.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28110KA2012PTC063429 |
|
|
|
|
TIN No.: |
29620671299 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCN9558Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Metal Sheet Components |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1943000 |
|
|
|
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject was established as partnership concern during the year 2001 with the name of “NASH INDUSTRIES”. Later it got converted into private limited company on 04th April 2012 with the name of “NASH INDUSTRIES (INDIA) PRIVATE LIMITED”. It is having a fine track record. Mr. Yegneshwaran, Finance head has provided information to us. As per available financial record of 2013, the rating takes into consideration company’s sound financial risk profile marked by decent profitability levels, established market position in the sheet metal component segment and fair operating capabilities. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments. The company can be considered good for normal business dealings at usual trade terms and conditions. Note: The rating is based on financial statement of partnership concern for the year 2011 and 12 and private limited company for the year 2013. |
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 |
Long Term Rating = A- |
|
Rating Explanation |
Adequate degree of safety and low credit
risk |
|
Date |
07.06.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
07.06.2013 |
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 : |
Ms. Anuradha |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-80-41136273 |
|
Date : |
18.06.2014 |
|
Name : |
Mr. Yegneshwaran |
|
Designation : |
Finance Head |
|
Contact No.: |
91-80–23713187 |
|
Date : |
02.07.2014 |
LOCATIONS
|
Registered Office/ Factory 1 : |
236-237/2, 8th Main, 3rd Cross, 2nd
Phase, Peenya Industrial Area, Bangalore - 560 058,
Karnataka, India |
|
Tel. No.: |
91-80–23713187 / 41136273 |
|
Fax No.: |
91-80–23713186 / 41136272 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Unit : |
No 38/1 and 39/2 B, Nagaruru Village, Dasanapura Hobli, Bangalore
North Taluk, Bangalore – 562123, Karnataka, India They have more 7 Units in Bangalore |
|
|
|
|
Factory 2 : |
#102 103, 6th Main Road, 3rd Phase, Peenya Industrial Area, Bangalore – 560058, Karnataka,
India |
|
|
|
|
Factory 3 : |
Bangalore, Karnataka, India |
DIRECTORS
As on: 26.03.2012
|
Name : |
Mr. Sanjay Shyam Wadhwa |
|
Designation : |
Director |
|
Address : |
1/1A, Wadhwa House, North Park Road, Kumara
Park East, Bangalore – 560001, Karnataka, India |
|
Date of Birth/Age : |
24.11.1970 |
|
Date of Appointment : |
04.04.2012 |
|
DIN No.: |
00321590 |
|
|
|
|
Name : |
Mr. Sandeep Ram Wadhwa |
|
Designation : |
Director |
|
Address : |
1/1A, Wadhwa House, North Park Road, Kumara
Park East, Bangalore – 560001, Karnataka, India |
|
Date of Birth/Age : |
18.11.1974 |
|
Date of Appointment : |
04.04.2012 |
|
DIN No.: |
01814941 |
|
|
|
|
Name : |
Mr. Nain S. Wadhwa |
|
Designation : |
Director |
|
Address : |
1/1A, Wadhwa House, North Park Road, Kumara
Park East, Bangalore – 560001, Karnataka, India |
|
|
|
|
Name : |
Ms. Neha S. Wadhwa |
|
Designation : |
Director |
|
Address : |
1/1A, Wadhwa House, North Park Road, Kumara
Park East, Bangalore – 560001, Karnataka, India |
|
|
|
|
Name : |
Ms. Asha Shyamalal |
|
Designation : |
Director |
|
Address : |
1/1A, Wadhwa House, North Park Road, Kumara
Park East, Bangalore – 560001, Karnataka, India |
|
|
|
|
Name : |
Mr. Rahul A Narang
|
|
Designation : |
Director |
|
Address : |
No.322, Narangs, 14th main , RMV
Extension, Bangalore – 560080, Karnataka, India |
|
|
|
|
Name : |
Mr. Kanchan A Naraga
|
|
Designation : |
Director |
|
Address : |
No.322, Narangs, 14th main , RMV
Extension, Bangalore – 560080, Karnataka, India |
KEY EXECUTIVES
|
Name : |
Mr. Yegneshwaran |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.03.2012
|
Names of Shareholders |
|
No. of Shares |
|
Sanjay Shyam Wadhwa |
|
1499996 |
|
Sandeep Ram Wadhwa |
|
499999 |
|
Nain S. Wadhwa |
|
1 |
|
Neha S. Wadhwa |
|
1 |
|
Asha Shyamalal |
|
1 |
|
Rahul A Narang |
|
1 |
|
Kanchan A Naraga |
|
1 |
|
|
|
|
|
Total |
|
2000000 |
%20PRIVATE%20LIMITED%20-%20272459%202%20FINAL%20REPORT%2004-Jul-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Metal Sheet Components. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
·
Europe ·
Asia ·
China |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
Europe |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, L/C and Credit |
|
|
|
|
Purchasing : |
Cash, L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
150 (Approximately) |
|
|
|
|
Bankers : |
State Bank of India, Specialised
Mid Corporate Branch, No. 136, Railway Parallel Road, Kumarapark
West, Bangalore - 560020, Karnataka, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
MRNM and Company Chartered Accountants |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital :
Rs.50.000 Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2013
(Private Limited) |
31.03.2012
(Partnership Concern) |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
50.000 |
614.142 |
|
(b) Reserves & Surplus |
|
435.942 |
0.000 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
485.942 |
614.142 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
504.107 |
257.741 |
|
(b) Deferred tax liabilities
(Net) |
|
71.326 |
71.541 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
575.433 |
329.282 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
367.072 |
366.843 |
|
(b) Trade payables |
|
222.841 |
240.551 |
|
(c) Other current liabilities |
|
99.273 |
24.880 |
|
(d) Short-term provisions |
|
60.997 |
67.902 |
|
Total
Current Liabilities (4) |
|
750.183 |
700.176 |
|
|
|
|
|
|
TOTAL |
|
1811.558 |
1643.600 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
696.627 |
555.845 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
11.683 |
10.867 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
64.123 |
40.789 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
772.433 |
607.501 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
248.290 |
201.246 |
|
(c) Trade receivables |
|
407.636 |
469.405 |
|
(d) Cash and cash equivalents |
|
165.527 |
155.391 |
|
(e) Short-term loans and
advances |
|
202.295 |
198.369 |
|
(f) Other current assets |
|
15.377 |
11.688 |
|
Total
Current Assets |
|
1039.125 |
1036.099 |
|
|
|
|
|
|
TOTAL |
|
1811.558 |
1643.600 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners Capital |
|
|
15.892 |
|
|
2] Partners Current |
|
|
508.341 |
|
|
3] Share Application Money |
|
|
0.000 |
|
|
4] Reserves & Surplus |
|
|
0.000 |
|
|
5] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
524.233 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
315.781 |
|
|
2] Unsecured Loans |
|
|
30.589 |
|
|
TOTAL BORROWING |
|
|
346.370 |
|
|
DEFERRED TAX LIABILITIES |
|
|
37.532 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
908.135 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
413.499 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1.573 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
199.167
|
|
|
Sundry Debtors |
|
|
330.218
|
|
|
Cash & Bank Balances |
|
|
11.923
|
|
|
Other Current Assets |
|
|
84.222
|
|
|
Loans & Advances |
|
|
134.773
|
|
Total
Current Assets |
|
|
760.303
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
|
|
|
|
Total
Current Liabilities |
|
|
267.240
|
|
|
Net Current Assets |
|
|
493.063
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
908.135 |
|
%20PRIVATE%20LIMITED%20-%20272459%202%20FINAL%20REPORT%2004-Jul-2014_files/image003.gif){kind=small}
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013
(Private Limited) |
31.03.2012
(Partnership Concern) |
31.03.2011
(Partnership Concern) |
|
|
SALES |
|
|
|
|
|
Income |
2127.427 |
2193.081 |
1803.951 |
|
|
Other Income |
40.477 |
30.462 |
15.741 |
|
|
TOTAL
(A) |
2167.904 |
2223.543 |
1819.692 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1424.315 |
|
|
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(12.666) |
(4.135) |
|
|
|
Employees benefits expense |
285.644 |
250.131 |
|
|
|
Other expenses |
183.874 |
171.385 |
|
|
|
TOTAL
(B) |
1881.167 |
1946.196 |
1592.011 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
286.737 |
277.347 |
227.681 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
57.146 |
45.909 |
24.267 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
229.591 |
231.438 |
203.414 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
43.056 |
35.595 |
26.728 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
186.535 |
195.843 |
176.686 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
50.593 |
75.684 |
26.426 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
135.942 |
120.159 |
150.260 |
%20PRIVATE%20LIMITED%20-%20272459%202%20FINAL%20REPORT%2004-Jul-2014_files/image004.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
6.27 |
5.40 |
8.26 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.77 |
8.93 |
9.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.36 |
11.99 |
15.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.38 |
0.32 |
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth)
|
|
1.79 |
1.02 |
0.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.39 |
1.48 |
2.85 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
614.142 |
50.000 |
|
Reserves & Surplus |
0.000 |
435.942 |
|
Net
worth |
614.142 |
485.942 |
|
|
|
|
|
long-term borrowings |
257.741 |
504.107 |
|
Short term borrowings |
366.843 |
367.072 |
|
Total
borrowings |
624.584 |
871.179 |
|
Debt/Equity
ratio |
1.017 |
1.793 |
%20PRIVATE%20LIMITED%20-%20272459%202%20FINAL%20REPORT%2004-Jul-2014_files/image006.gif)
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 |
1803.951 |
2193.081 |
2127.427 |
|
|
|
21.571 |
(2.994) |
%20PRIVATE%20LIMITED%20-%20272459%202%20FINAL%20REPORT%2004-Jul-2014_files/image008.gif)
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 |
1803.951 |
2193.081 |
2127.427 |
|
Profit |
150.260 |
120.159 |
135.942 |
|
|
8.33% |
5.48% |
6.39% |
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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 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 |
No |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10436977 |
15/03/2014 * |
411,200,000.00 |
STATE BANK OF INDIA |
SPECIALISED
MID-CORPORATE BRANCH, NO. 97, RAILWAY |
C03782703 |
|
2 |
10436972 |
22/06/2013 |
501,000,000.00 |
STATE BANK OF INDIA |
SPECIALISED MID
CORPORATE BRANCH, NO. 136, RAILW |
B79680534 |
* Date of charge modification
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 records 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 pyments
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.59.72 |
|
|
1 |
Rs.102.45 |
|
Euro |
1 |
Rs.81.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
52 |
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.