MIRA
INFORM REPORT
|
Report Date : |
12.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
DAGA TRADING COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
F-16, First Floor, Himalaya House, 23, Kasturba Gandhi Marg, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
04.04.1995 |
|
|
|
|
Com. Reg. No.: |
55-067113 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 3.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1995PTC067113 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELD06590D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD2847D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Iron and Steel Rolled Products. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
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 an established company having satisfactory track record. Management has failed to file the latest financial of FY13, with the
statutory authorities. As per the available, the company possesses an average financial
profile marked by adequate networth base and comfortable gearing along with
high debtors receivable days which may act as a threat to the liquidity
position. Management has witnessed a decent volumes whereas has reported a low
profit margins during FY12 as a result of trading nature of the business. The ratings also take into consideration, the reputation of the
subject being an authorised distributor of Tata Steel and the way in which the
management has successfully leverages the brand resulting into healthy
business profile. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of experienced 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.
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 DECLINED BY
|
Name : |
Mr. Amit Khandelwal |
|
Contact No.: |
91-9212237457 |
|
Date : |
11.07.2014 |
LOCATIONS
|
Registered/ Corporate Office : |
F-16, First Floor, Himalaya House, 23, Kasturba Gandhi Marg, New Delhi –
110001, India |
|
Tel. No.: |
91-11-45695051/ 43489046 |
|
Fax No.: |
91-11-45695050 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
B-618, Nehru Ground, N.I.T Faridabad - 121001, Haryana, India |
|
Tel. No.: |
91-129-4175692 |
|
|
|
|
Godown Delhi : |
Mohan Cooperative Industrial Estate, Badarpur, New Delhi -110001, India |
|
Tel. No.: |
91-11-40509884 |
|
Fax No.: |
91-11-45695050 |
|
|
|
|
Godown Haryana : |
Dhatir Road, Vill. Prithla, Palwal, Faridabad, Haryana, India |
|
Tel. No.: |
91-1275-262003 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Krishan Kumar Daga |
|
Designation : |
Director |
|
Address |
A-2, Soami Nagar, New Delhi-110017, India |
|
Date of Birth/Age : |
11.07.1941 |
|
Date of Appointment : |
01.10.2002 |
|
PAN No.: |
AAJPD1864E |
|
DIN No.: |
00141903 |
|
|
|
|
Name : |
Mr. Ramesh Kumar Daga |
|
Designation : |
Director |
|
Address |
A-2, Soami Nagar, New Delhi-110017, India |
|
Date of Birth/Age : |
25.12.1945 |
|
Date of Appointment : |
01.10.2002 |
|
PAN No.: |
AAJPD1865F |
|
DIN No.: |
00141906 |
|
|
|
|
Name : |
Mr. Sanjay Daga |
|
Designation : |
Director |
|
Address |
A-2, Soami Nagar, New Delhi-110017, India |
|
Date of Birth/Age : |
30.10.1968 |
|
Date of Appointment : |
01.04.1998 |
|
PAN No.: |
AAJPD1867H |
|
DIN No.: |
00141911 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Krishna Daga |
|
115000 |
|
Laxmi Daga |
|
115000 |
|
Krishan Kumar Daga |
|
400 |
|
Krishan Kumar Daga (HUF) |
|
400 |
|
Ramesh Kumar Daga |
|
400 |
|
Ramesh Kumar Daga (HUF) |
|
400 |
|
Sanjay Daga |
|
400 |
|
Shalini Daga |
|
400 |
|
Virendra Paul Daga (HUF) |
|
400 |
|
Sanjay Daga (HUF) |
|
400 |
|
Adarsh Daga |
|
4000 |
|
Pragyan Daga |
|
2800 |
|
Laxman Investment Limited, India |
|
35000 |
|
Deepraj Inverstments Limited, India |
|
2500 |
|
Gaurav Credits Limited, India |
|
2500 |
|
Primus Capital Private Limited, India |
|
2500 |
|
Rubion Marketing Limited, India |
|
2500 |
|
Prabha Ladha |
|
2500 |
|
Ranjeet Ladha |
|
2500 |
|
Siddhartha Ladha |
|
2500 |
|
Bhagwati Devi Daga |
|
2500 |
|
Shailza Daga |
|
2500 |
|
Swati Daga |
|
2500 |
|
|
|
|
|
Total |
|
300000 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
15.00 |
|
Directors
or relatives of directors |
80.00 |
|
Other
top fifty shareholders |
5.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Iron and Steel Rolled Products. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· Citibank N.A Jeevan Bharti Building, 4th Floor, 124 Connaught Circus,
Connaught Place, New Delhi - 110001, Delhi, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
J S Johar and Associates Chartered Accountants |
|
Address : |
M-16A, 2nd Floor, Lajpat Nagar-III, New Delhi – 110024,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAJPJ0369E |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
Daga Iron and Steel Corporation |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400,000 |
Equity Shares |
Rs. 10/- each |
Rs. 4.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300,000 |
Equity Shares |
Rs. 10/- each |
Rs. 3.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
3.000 |
3.000 |
|
(b) Reserves & Surplus |
|
121.781 |
106.139 |
|
(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) |
|
124.781 |
109.139 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
2.271 |
6.960 |
|
(b) Deferred tax liabilities (Net) |
|
0.419 |
0.237 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
2.690 |
7.197 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
135.434 |
150.013 |
|
(b)
Trade payables |
|
30.188 |
17.043 |
|
(c)
Other current liabilities |
|
2.104 |
2.872 |
|
(d) Short-term
provisions |
|
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
|
167.726 |
169.928 |
|
|
|
|
|
|
TOTAL |
|
295.197 |
286.264 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
15.613 |
13.803 |
|
(ii)
Intangible Assets |
|
0.065 |
0.079 |
|
(iii)
Capital work-in-progress |
|
1.146 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.017 |
0.017 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.832 |
0.499 |
|
(e) Other
Non-current assets |
|
2.000 |
0.000 |
|
Total Non-Current
Assets |
|
19.673 |
14.398 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
19.629 |
58.440 |
|
(c)
Trade receivables |
|
216.155 |
191.602 |
|
(d) Cash
and cash equivalents |
|
1.953 |
3.044 |
|
(e)
Short-term loans and advances |
|
37.783 |
18.780 |
|
(f)
Other current assets |
|
0.004 |
0.000 |
|
Total
Current Assets |
|
275.524 |
271.866 |
|
|
|
|
|
|
TOTAL |
|
295.197 |
286.264 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
3.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
83.204 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
86.204 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
72.265 |
|
|
2] Unsecured Loans |
|
|
19.190 |
|
|
TOTAL BORROWING |
|
|
91.455 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.038 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
177.697 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
14.498 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.569 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
18.825 |
|
|
Sundry Debtors |
|
|
156.363 |
|
|
Cash & Bank Balances |
|
|
1.099 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
24.348 |
|
Total
Current Assets |
|
|
200.635 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
25.814 |
|
|
Other Current Liabilities |
|
|
0.818 |
|
|
Provisions |
|
|
11.373 |
|
Total
Current Liabilities |
|
|
38.005 |
|
|
Net Current Assets |
|
|
162.630 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
177.697 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2884.295 |
2260.013 |
2566.951 |
|
|
|
Other Income |
NA |
10.912 |
0.028 |
|
|
|
TOTAL |
NA
|
2270.925 |
2566.979 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA
|
2241.945 |
2553.687 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
28.980 |
13.292 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
6.045 |
4.582 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
15.642 |
22.935 |
8.710 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
52.14 |
76.45 |
29.03 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
1.01 |
0.34 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
1.28 |
0.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
10.12 |
6.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.27 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.10
|
1.44 |
1.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.64
|
1.44 |
1.06 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
3.000 |
3.000 |
|
Reserves & Surplus |
106.139 |
121.781 |
|
Net
worth |
109.139 |
124.781 |
|
|
|
|
|
long-term borrowings |
6.960 |
2.271 |
|
Short term borrowings |
150.013 |
135.434 |
|
Total
borrowings |
156.973 |
137.705 |
|
Debt/Equity ratio |
1.438 |
1.104 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2566.951 |
2260.013 |
2884.295 |
|
|
|
(11.957) |
27.623 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2566.951 |
2260.013 |
2884.295 |
|
Profit |
8.710 |
22.935 |
15.642 |
|
|
0.34% |
1.01% |
0.54% |
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 |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
No |
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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 |
Yes |
|
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 |
90051727 |
07/02/2014 * |
250,000,000.00 |
CITIBANK N.A |
JEEVAN BHARTI BUILDING, 4TH FLOOR, 124 CONNAUGHT CIRCUS, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B95919817 |
|
2 |
90058843 |
03/01/2005 |
15,000,000.00 |
STANDARD CHARTERED BANK |
10; SANSAD MARG, NEW DELHI, DELHI - 110001, INDIA |
- |
|
3 |
90057201 |
08/03/2000 |
290,000.00 |
ORIENTAL BANK OF COMMERCE |
PANCHSHEEL MARG, NEW DELHI, DELHI - 110001, INDIA |
- |
|
4 |
90056511 |
30/03/1998 * |
2,000,000.00 |
ORIENTAL BANK OF COMMERCE |
PANCHSHEEL PARK, NEW DELHI, DELHI, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Term loans from others |
2.261 |
6.810 |
|
|
|
|
|
Total |
2.261 |
6.810 |
CHANGE OF ADDRESS:
The Registered office of the company has been shifted from Y-162, Loha
Mandi, Naraina, New Delhi - 110028, India to the present address
w.e.f.01.01.2013.
WORKING RESULTS
Revenue from operations,
for the year, has shown impressive growth. Sales turnover increased to Rs
2884.295 Millions from Rs 2260.013 Millions in the last year. In terms of
volumes also, the turnover increased to 66440 MT from 61861 MT in the last
year. The Operating Profit for the year is higher at Rs 23.217 Millions against
Rs 18.209 Millions in the last year. The Company had also earned Profit on Sale
of Investments Rs 10.742 Millions and Dividend Rs 0.029 Million in the last
year. The Provision for Current Income Tax accounts for Rs 7.400 Millions
against Rs 5.870 Millions in the last year. Deferred Tax for the year is Rs
0.183 Million. Net Profit after Taxes stands at Rs 15.642 Millions against Rs
22.935 Millions in the last year and the same is added to the Surplus of last
year. The total Surplus of Rs 62.381 Millions is carried to next year. The
Board of Directors do not recommend any Dividend. Management is hopeful of
improved working in the current year as well. Company has also initiated the
process for setting up facility for readily usable specific dimension
materials, as value addition to the customers. The work for construction of
requisite building and installation of plant and equipments is under progress
at Prithla, Haryana. Management is trying to make the said facility operational
at the earliest. The Company has not accepted any deposits from public.
Auditors comments, wherever appearing in their report, are self-explanatory and
no further clarification is considered necessary.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
Sales Tax demands disputed by the Company |
0.071 |
0.071 |
|
Income Tax demands disputed by the Company |
0.247 |
0.247 |
|
Letters of Credit outstanding |
19.856 |
0.000 |
|
|
|
|
|
Total |
20.174 |
0.318 |
FIXED ASSETS:
· Land
Buildings
Office
building
Plant
and equipment
Other
plant and equipment
Vehicles
Motor
vehicles
Office
equipment
Other
equipment
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 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. 60.19 |
|
|
1 |
Rs. 103.15 |
|
Euro |
1 |
Rs. 81.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.