MIRA
INFORM REPORT
|
Report Date : |
09.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
NAFTO GAZ INDIA PRIVATE LIMITED |
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Registered
Office : |
C-29, LGF, East of Kailash, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
24.08.2005 |
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Com. Reg. No.: |
55-178724 |
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Capital
Investment / Paid-up Capital : |
Rs. 437.227
Millions |
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CIN No.: [Company Identification
No.] |
U11200DL2005PTC178724 |
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PAN No.: [Permanent Account No.] |
AACCN1894L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is EPC Contractor in Oil, Gas and Infrastructure Business. |
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No. of Employees
: |
177 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Management has failed to file the latest after the FY11 with the
Government Department. Mr. Bawa Mahdoom, the director provided information and confirmed that
the company has reported a decent turnover which is not verified, and is
noted in the report for your mere reference. As per available, the subject possesses an average financial profile
marked by decent networth base along with increase gearing and working
capital intensive operations. Management has reported decent sales volumes and net profitability
during FY11. The ratings also take into consideration the prevailing high
competition in the offshore contract procurement segment. However, trade relation seems to be fair. Business is active. Payment
terms are unknown. In view of lack of latest financial information, the subject can be
considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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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.
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. Bawa Mahdoom |
|
Designation : |
Director |
|
Contact No.: |
91-9810001676 |
|
Date : |
07.07.2014 |
LOCATIONS
|
Registered Office : |
C-29, LGF, East of Kailash, New Delhi – 110065, India |
|
Tel. No.: |
91-11-41025018 |
|
Mobile No.: |
91-9810001676 (Mr. Bawa Mahdoom) |
|
Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
|
Locality : |
Commercial |
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Mumbai Office : |
2nd Floor, Premier House, Plot No. 38, Central Road, MIDC, Andheri (East), Mumbai – 400093, Maharashtra, India |
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Tel. No.: |
91-22-42190999 |
|
Fax No.: |
91-22-42990900 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mahdoom Bava Bahrudeen Nooral |
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Designation : |
Managing director |
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Address : |
E-14/13, Ground Floor, Vasant Vihar, New Delhi – 110070, India |
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Date of Birth/Age : |
29.05.1972 |
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Date of Appointment : |
11.08.2008 |
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DIN No.: |
01413170 |
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Other Directorship :
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Name : |
Mr. Ganesan Natrajan |
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Designation : |
Director |
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Name : |
Mr. Rajiv Agarwal |
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Designation : |
Director |
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KEY EXECUTIVES
|
Name : |
Bidu Bhusan Dash |
|
Designation : |
Secretary |
|
Date of Appointment : |
29.09.2008 |
|
PAN No.: |
AJPPD5443G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Equity Shareholders |
|
No. of Shares |
|
Mahdoom Bava |
|
5655500 |
|
Mahdoom Kadar |
|
4500 |
|
Azure Investments and Holdings Private Limited, Mauritius |
|
4840000 |
|
Avigo PE Investments Limited, Mauritius |
|
3223210 |
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|
|
|
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Total |
|
13723210 |
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Names of Preference Shareholder |
|
No. of Shares |
|
Avigo PE Investments Limited, Mauritius |
|
2999950 |
|
|
|
|
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Total |
|
2999950 |
AS ON 30.09.2011
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
58.76 |
|
Directors
or relatives of directors |
41.24 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is EPC Contractor in Oil, Gas and Infrastructure Business. |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
177 (Approximately) |
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Bankers : |
· Union Bank of India D-43, South Extension - 110049, Delhi, India · Indian Overseas Bank R. K. Puram Branch, Palika Bhawan,1st Floor, Sector - 13, R K Puram, New Delhi - 110066, Delhi, India · State Bank of Bikaner and Jaipur CSC, Sector-D, Pocket-II, Vasant Kunj, New Delhi - 110070, Delhi, India · Corporation Bank SME Branch, Sector-18, Noida - 201301, Uttar Pradesh, India · Punjab National Bank ECE House, K G Marg, New Delhi - 110001, Delhi, India · Standard Chartered Bank ICICI Bank Limited State Bank of India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M L Puri and Company Chartered Accountants |
|
Address : |
Delhi, India |
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Income-tax
PAN of auditor or auditor's firm : |
AALFM4168N |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 150.000 Millions |
|
6,000,000 |
Preference Shares |
Rs. 100/- each |
Rs. 600.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 750.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13,723,210 |
Equity Shares |
Rs. 10/- each |
Rs. 137.232
Millions |
|
2,999,950 |
Preference Shares |
Rs. 100/- each |
Rs. 299.995
Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 437.227 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
437.227 |
705.000 |
50.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1058.670 |
445.671 |
253.612 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1495.897 |
1150.671 |
303.612 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2503.808 |
1130.538 |
179.313 |
|
|
2] Unsecured Loans |
1994.207 |
1184.817 |
468.884 |
|
|
TOTAL BORROWING |
4498.015 |
2315.355 |
648.197 |
|
|
DEFERRED TAX LIABILITIES |
0.122 |
0.105 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5994.034 |
3466.131 |
951.809 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
69.028 |
56.390 |
50.940 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
197.430 |
97.697 |
62.379 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.149 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
707.495
|
530.927 |
352.953 |
|
|
Sundry Debtors |
6342.549
|
3374.814 |
1928.938 |
|
|
Cash & Bank Balances |
421.685
|
476.481 |
236.934 |
|
|
Other Current Assets |
4511.537
|
3396.055 |
0.000 |
|
|
Loans & Advances |
1207.235
|
1052.298 |
1624.631 |
|
Total
Current Assets |
13190.501
|
8830.575 |
4143.456 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
5892.912
|
4247.072 |
2337.820 |
|
|
Other Current Liabilities |
1378.084
|
1086.631 |
867.797 |
|
|
Provisions |
191.929
|
184.828 |
99.498 |
|
Total
Current Liabilities |
7462.925
|
5518.531 |
3305.115 |
|
|
Net Current Assets |
5727.576
|
3312.044 |
838.341 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5994.034 |
3466.131 |
951.809 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
11518.000 |
10214.300 |
NA
|
|
|
|
|
|
|
|
|
|
OPERATING
EXPENSES |
10992.100 |
9907.400 |
NA
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
567.400 |
307.200 |
NA |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
11.500 |
0.900 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
555.500 |
297.800 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
346.600 |
196.300 |
188.803 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.000 |
1078.014 |
991.296 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Goods and Services |
|
3090.523 |
762.051 |
|
|
|
Services |
|
0.000 |
42.830 |
|
|
TOTAL IMPORTS |
NA
|
3090.523 |
804.881 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
20.73 |
24.13 |
37.76 |
|
|
Particulars |
|
31.03.2014 |
31.03.2013 |
|
Sales Turnover (Approximately) |
|
15000.000 |
13900.000 |
|
|
|
|
|
The above information has been parted by Mr. Bawa Mahdoom (Director)
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.01
|
1.92 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.19
|
3.35 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37
|
0.26 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.01
|
2.01 |
2.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.77
|
1.60 |
1.25 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
50.000 |
705.000 |
437.227 |
|
Share Application Money |
0.000 |
0.000 |
0.000 |
|
Reserves & Surplus |
253.612 |
445.671 |
1058.670 |
|
(Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
Net
worth |
303.612 |
1150.671 |
1495.897 |
|
|
|
|
|
|
Secured Loans |
179.313 |
1130.538 |
2503.808 |
|
Unsecured Loans |
468.884 |
1184.817 |
1994.207 |
|
Total
borrowings |
648.197 |
2315.355 |
4498.015 |
|
Debt/Equity ratio |
2.135 |
2.012 |
3.007 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
10214.300 |
11518.000 |
|
|
|
12.763 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
10214.300 |
11518.000 |
|
Profit |
196.300 |
346.600 |
|
|
1.92% |
3.01% |
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) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
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 |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10299369 |
23/07/2011 |
750,000,000.00 |
INDIAN OVERSEAS
BANK |
R. K. PURAM BRANCH,
PALIKA BHAWAN,1ST FLOOR, SECTOR - 13, R K PURAM, NEW DELHI, DELHI - 110066,
INDIA |
B17754011 |
|
2 |
10280148 |
04/10/2012 * |
313,905,918.00 |
UNION BANK OF
INDIA |
D-43, SOUTH
EXTENSION, DELHI - 110049, INDIA |
B60949179 |
|
3 |
10222568 |
06/05/2010 |
300,000,000.00 |
LANDT
INFRASTRUCTURE FINANCE COMPANY LIMITED |
MOUNT
POONAMALLEE ROAD, MANAPAKKAM, CHENNAI, TAMILNADU - 600089, INDIA |
A86370954 |
|
4 |
10224875 |
24/04/2010 |
300,000,000.00 |
THE KARUR VYSYA
BANK LIMITED |
POST BOX NO.21, ERODE
ROAD, KARUR, TAMIL NADU - 639002, INDIA |
A87526737 |
|
5 |
10207434 |
20/09/2010 * |
700,000,000.00 |
STANDARD
CHARTERED BANK |
CREDIT RISK
CONTROL, NARAIN MANZIL, 23 BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001,
INDIA |
A96067020 |
|
6 |
10204975 |
31/05/2010 * |
1,400,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
A86915055 |
|
7 |
10162986 |
25/03/2011 * |
1,050,000,000.00 |
CORPORATION BANK |
SME BRANCH, SECTOR-18,
NOIDA, UTTAR PRADESH - 201301, INDIA |
B10818219 |
|
8 |
10157120 |
25/03/2011 * |
375,000,000.00 |
PUNJAB NATIONAL
BANK |
ECE HOUSE, KG
MARG, NEW DELHI, DELHI - 110001, INDIA |
B12115333 |
|
9 |
10117806 |
30/01/2010 * |
2,002,500,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL
BRANCH, NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
A81542193 |
|
10 |
10068395 |
20/04/2011 * |
300,000,000.00 |
STATE BANK OF
BIKANER & JAIPUR |
CSC, SECTOR-D,
POCKET-II, VASANT KUNJ, NEW DELHI, |
B11442647 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2011 (Rs.
In Millions) |
31.03.2010 (Rs.
In Millions) |
|
|
|
|
|
Other debt unsecured |
1994.207 |
1184.817 |
|
|
|
|
|
Total |
1994.207 |
1184.817 |
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from E-14/13,
Vasant Vihar, New Delhi – 110057, India to the present address.
FINANCIAL REVIEW
The Company has posted a net profit of Rs.346.600 Millions during the year as against the previous year Rs.196.300 Millions. The total income during the current year increased by 12.76%, from Rs.10214.300 Millions in 2009-10 to Rs.11518.000 Millions in 2010-11.
The Company has posted a net profit of Rs. 567.400 Millions
(before tax) as against net profit of Rs. 307.200 Millions (before tax) during
the previous year.
CONTINGENT
LIABILITIES (AS ON 31.03.2011):
1) Letters of Credit opened by the Company’s Bankers in favour of various parties for Rs. 530.545 Millions (Previous Year Rs. 1891.751 Millions).
2) Bank Guarantees given by company to various parties Rs. 1163.034 Millions (Previous year Rs. 1397.900 Millions)
3) Bank Guarantees given by third party (Nagarjuna Construction Company Limited) on behalf of company to various parties (CDSP Bina Project and HGU Bina Project ) for Rs. 646.519 Millions, USD 11,87,443/- and Euro 24,88,614/- (Previous Year Rs. Rs. 1861.641 Millions, USD 17,81,315/- & Euro 1,65,01,970/-).
4) Guarantee given by the company for term loan facility availed by others from a body corporate to the extent of loan outstanding as on 31.03.2011 is amounting to Rs. 122.806 Millions (Previous year Rs. 124.167 Millions)
5) Claims not acknowledged as Debts towards overdue interest on Term Loan: Rs. 7.998 Millions
6) BOW Cess demand of Rs.83.026 Millions pertaining to BINA Projects. The company has preferred appeal to the concerned authority. According to the management the said liability is not applicable on the company.
FIXED ASSETS:
· Plant and machinery
Office
equipments
Furniture
and fixtures
Vehicles
Leasehold
properties
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 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. 59.80 |
|
|
1 |
Rs. 102.42 |
|
Euro |
1 |
Rs. 81.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
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.