MIRA
INFORM REPORT
|
Report Date : |
07.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
ENPRO INDUSTRIES PRIVATE LIMITED
|
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Registered
Office : |
D 12/4, MIDC, Chinchwad, Pune – 411019, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
15.03.1999 |
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Com. Reg. No.: |
25-013421 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.50.432
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74210PN1999PTC013421 |
|
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEE01528C |
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PAN No.: [Permanent Account No.] |
AAACE6137H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Lube Oil System. |
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No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record. There appears dip in profitability of the company during financial
year 2013. However, the rating takes into consideration promoter’s extensive
experience in the mechanical fluid system marked by sound financial risk
profile and fair liquidity position of the company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
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 = BB+ |
|
Rating Explanation |
Inadequate degree of safety and high credit
risk |
|
Date |
10.06.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk |
|
Date |
10.06.2013 |
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 : |
Mr. Murali Iyer |
|
Designation : |
Deputy Manager Finance |
|
Contact No.: |
91-9765554982 |
|
Date : |
04.07.2014 |
LOCATIONS
|
Registered Office/ Factory 1 : |
D 12/4, MIDC, Chinchwad, Pune – 411019, Maharashtra, India |
|
Tel. No.: |
91-20-67308000/ 66113656/ 27478292 |
|
Mobile No.: |
91-9765554982 (Mr. Murali Iyer) |
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Fax No.: |
91-20-27478292 |
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E-Mail : |
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|
Website : |
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Area : |
3500 Sq. ft |
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Location : |
Owned |
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Head Office/ Factory 2: |
A-17, H-Block, MIDC, Pimpri, Pune – 411018, Maharashtra, India |
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Tel. No.: |
91-20-66113666/ 27472157 |
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Fax No.: |
91-20-27470909 |
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Area : |
3500 Sq. ft |
|
Location : |
Owned |
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|
|
|
Factory 3: |
Gat No.215/216/218/219, Alandi Markal, Pune – 412105, Maharashtra,
India |
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Area : |
5.5 acre |
|
Location : |
Owned |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Srikrishna Bhargava Karkare |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
378, Sector 24, PCNTDA, Tilak Road, Pradhikaran Nigdi, Pune – 411044,
Maharashtra, India |
|
Date of Birth/Age : |
13.10.1959 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.07.1999 |
|
PAN No.: |
ABJPK2889F |
|
DIN No.: |
00409347 |
|
|
|
|
Name : |
Ms. Alka Srikrishna Karkare |
|
Designation : |
Whole Time Director |
|
Address : |
378, Sector 24, PCNTDA, Tilak Road, Pradhikaran Nigdi, Pune – 411044,
Maharashtra, India |
|
Date of Birth/Age : |
21.10.1959 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.07.1999 |
|
PAN No.: |
ABJPK2888E |
|
DIN No.: |
00409408 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh Wade |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
As on 28.09.2012
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Srikrishna Bhagava Karkare |
3029400 |
60.08 |
|
Alka Srikrishna Karkare |
1817527 |
36.04 |
|
Siddharth Srikrishna Karkare |
97825 |
1.94 |
|
Arjun Srikrishna Karkare |
97823 |
1.94 |
|
Total |
5042575 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Lube Oil System. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
European Countries ·
USA ·
Spain |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
Japan ·
Dubai |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit and Depend |
GENERAL INFORMATION
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Suppliers : |
Novopan Industries Limited |
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Customers : |
Reliance Industries Limited |
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No. of Employees : |
250 (Approximately) |
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Bankers : |
·
The
Saraswat Co-Operative Bank Limited, Pimpri Chinchwad Branch, Chinchwad, Pune
– 411018, Maharashtra, India ·
The Saraswat Co-Operative Bank Limited, C-2 Kohinoor
Estate Co-Operative Housing Society, Plot No. 12 Mula Road. Sangamwadi, Pune
- 411003, Maharashtra, India ·
State
Bank of India, Gresham House, Sir P.M. Road, Fort, Mumbai – 400001,
Maharashtra, India ·
Yes
Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
R M Rajapurkar and Company Chartered Accountants |
|
Address : |
1- Regent Avenue, Sambhaji Chowk, Pradhikaran,
Nigdi, Pune – 411044, Maharashtra, India |
|
PAN No.: |
AAIFR3873N |
CAPITAL STRUCTURE
As on 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5250000 |
Equity Shares |
Rs.10/- each |
Rs.52.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5042575 |
Equity Shares |
Rs.10/- each |
Rs.50.426
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 |
50.432 |
50.432 |
40.345 |
|
(b) Reserves & Surplus |
363.610 |
334.159 |
271.169 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
414.042 |
384.591 |
311.514 |
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
119.677 |
101.805 |
184.185 |
|
(b) Deferred tax liabilities (Net) |
7.478 |
8.929 |
0.604 |
|
(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) |
127.155 |
110.734 |
184.789 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
358.381 |
527.701 |
409.372 |
|
(b) Trade payables |
25.766 |
62.167 |
38.463 |
|
(c) Other current
liabilities |
49.074 |
196.159 |
53.604 |
|
(d) Short-term provisions |
61.456 |
63.466 |
52.560 |
|
Total Current Liabilities (4) |
494.677 |
849.493 |
553.999 |
|
|
|
|
|
|
TOTAL |
1,035.874 |
1,344.818 |
1,050.302 |
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
467.176 |
419.675 |
87.477 |
|
(ii) Intangible Assets |
0.844 |
1.320 |
0.753 |
|
(iii) Capital
work-in-progress |
3.598 |
0.000 |
204.315 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.025 |
5.025 |
31.238 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.590 |
2.750 |
2.364 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
474.233 |
428.770 |
326.147 |
|
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|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
165.761 |
393.202 |
237.559 |
|
(c) Trade receivables |
216.496 |
325.877 |
361.122 |
|
(d) Cash and cash equivalents |
32.318 |
44.326 |
31.784 |
|
(e) Short-term loans and
advances |
66.159 |
78.752 |
65.948 |
|
(f) Other current assets |
80.907 |
73.891 |
27.742 |
|
Total Current Assets |
561.641 |
916.048 |
724.155 |
|
|
|
|
|
|
TOTAL |
1,035.874 |
1,344.818 |
1,050.302 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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SALES |
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Income |
1059.940 |
1027.360 |
777.110 |
|
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Other Income |
NA |
NA |
22.242 |
|
|
|
|
TOTAL |
NA
|
NA
|
799.352 |
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EXPENSES |
NA
|
NA
|
711.145 |
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PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
NA |
NA |
(Including Interests
and Depreciation) |
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FINANCIAL
EXPENSES |
NA |
NA |
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PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
NA |
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DEPRECIATION/
AMORTISATION |
NA |
NA |
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PROFIT/(LOSS)
BEFORE TAX |
44.250 |
91.350 |
88.207 |
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TAX |
14.490 |
30.240 |
17.387 |
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PROFIT/(LOSS)
AFTER TAX |
29.760 |
61.110 |
70.820 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
518.467 |
484.767 |
343.697 |
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TOTAL EARNINGS |
518.467 |
484.767 |
343.697 |
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IMPORTS |
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Bought Outs |
91.512 |
141.421 |
133.223 |
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TOTAL IMPORTS |
91.512 |
141.421 |
133.223 |
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Earnings Per
Share (Rs.) |
5.90 |
15.14 |
12.88 |
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Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
500.000 |
The above information has been parted by Mr. Murali Iyer
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA |
NA |
8.86 |
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|
Net Profit Margin (PBT/Sales) |
(%) |
4.17 |
8.89 |
11.35 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.29 |
6.82 |
10.83 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.24 |
0.28 |
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|
Debt Equity Ratio (Total Debt /Networth) |
|
1.15 |
1.64 |
1.91 |
|
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|
Current Ratio (Current Asset/Current Liability) |
|
1.14 |
1.08 |
1.31 |
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 |
40.345 |
50.432 |
50.432 |
|
Reserves & Surplus |
271.169 |
334.159 |
363.610 |
|
Net
worth |
311.514 |
384.591 |
414.042 |
|
|
|
|
|
|
long-term borrowings |
184.185 |
101.805 |
119.677 |
|
Short term borrowings |
409.372 |
527.701 |
358.381 |
|
Total
borrowings |
593.557 |
629.506 |
478.058 |
|
Debt/Equity
ratio |
1.905 |
1.637 |
1.155 |
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 |
777.110 |
1,027.360 |
1,059.940 |
|
|
|
32.203 |
3.171 |
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
|
777.110 |
1,027.360 |
1,059.940 |
|
Profit |
70.820 |
61.110 |
29.760 |
|
|
9.11% |
5.95% |
2.81% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS NOT AVAILABLE
|
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 |
Yes |
|
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 |
No |
|
17] |
Major suppliers |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Loans and advances from others |
4.300 |
4.300 |
|
Total |
4.300 |
4.300 |
PERFORMANCE
This is the fourteenth year of The Company has posted a subdued growth in revenues in comparison to the previous years. However the export percentage of the sales remains stable. This has been due to the overall dismal growth in the manufacturing sector, especially in the power and petroleum sector which can be attributed to volatile market conditions on account of negative growth witnessed in the production of coal, natural gas and cement and deceleration in growth rates of electricity, steel and petroleum refinery products.
Hence the bottomline of the company has considerably reduced to 4.06%. This has occurred due to the impact of full year depreciation cost and the finance cost related to the newly opened Markal Plant.
The Company has been successful in consolidating all its manufacturing operations at the Markal Plant. The Company looks to reap cost benefits with this consolidation also looks forward to handling larger projects in the coming year.
The closing order book of the company was valued at 392 million rupees.
REVIEW OF OPERATION
The renewal audits for ASME U stamp and ISO 9001- 2000 quality system certification were success fully completed in this year thus ensuring maintenance of world class quality standards. Several training programmes for lean manufacturing were conducted. Improved management of production and procurement practices has resulted in improved on-time performance and improved inventory control. The Company has also ventured into 3-D modeling of its products which has become a de-facto standard in this industry. Necessary training was provided to the design department by Auto-Desk in this regard.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10488467 |
18/03/2014 |
1,090,000.00 |
The Saraswat Co-Operative Bank Limited |
The Saraswat Co-Operative Bank Limited, Karve Road, Pune, Maharashtra - 411004, India |
C02315265 |
|
2 |
10488470 |
18/03/2014 |
1,090,000.00 |
The Saraswat Co-Operative Bank Limited |
The Saraswat Co-Operative Bank Limited, Karve Road, Pune, Maharashtra - 411004, India |
C02315638 |
|
3 |
10488471 |
18/03/2014 |
1,090,000.00 |
The Saraswat Co-Operative Bank Limited |
The Saraswat Co-Operative Bank Limited, Karve Road, Pune, Maharashtra - 411004, India |
C02316511 |
|
4 |
10449597 |
26/08/2013 |
41,500,000.00 |
The Saraswat Co-Operative Bank Limited |
C-2 Kohinoor Estate Co-Operative Housing Society, Plot No. 12 Mula Rd. Sangamwadi, Pune, Maharashtra - 411003, India |
B85228658 |
|
5 |
10421914 |
28/03/2013 |
6,200,000.00 |
The Saraswat Co-Operative Bank Limited |
C-2 Kohinoor Estate Co-Operative Housing Society, Plot No. 12 Mula Rd. Sangamwadi, Pune, Maharashtra - 411003, India |
B73791659 |
|
6 |
10429557 |
28/03/2013 |
140,000,000.00 |
The Saraswat Co-Operative Bank Limited |
C-2 Kohinoor Estate Co-Operative Housing Society, Plot No. 12 Mula Rd. Sangamwadi, Pune, Maharashtra - 411003, India |
B73791071 |
|
7 |
10334429 |
11/04/2011 |
581,914.00 |
The Saraswat Co-Operative Bank Limited |
F C Road Branch,, Pune, Maharashtra - 411004, India |
B27297472 |
|
8 |
10181646 |
30/09/2009 |
185,100,000.00 |
State Bank Of India |
Gresham House, Sir P.M. Road, Fort, Mumbai, Maharashtra - 400001, India |
A71955413 |
|
9 |
10130983 |
01/11/2008 |
5,000,000.00 |
First Leasing Co Of India Limited |
749, Anna
Salai,Chennai-2., Tamilnadu, Tamilnadu, |
A51411015 |
|
10 |
10116228 |
03/07/2008 |
1,283,800.00 |
The Saraswat Co-Operative Bank Limited |
F C Road Branch, Pune, Maharashtra - 411004, India |
A43218882 |
|
11 |
80018353 |
30/12/2011 * |
934,100,000.00 |
State Bank Of India |
Gresham House, Sir P.M. Road, Fort, Mumbai, Maharashtra - 400001, India |
B29760071 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.59.79 |
|
|
1 |
Rs.102.66 |
|
Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
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.