MIRA
INFORM REPORT
|
Report Date : |
17.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
LAKSHMI CARD CLOTHING MANUFACTURING COMPANY PRIVATE LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
06.01.1960 |
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Com. Reg. No.: |
18-000343 |
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Capital
Investment / Paid-up Capital : |
Rs.30.000 millions |
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CIN No.: [Company Identification
No.] |
U17219TZ1960PTC000343 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CMBL03203E |
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PAN No.: [Permanent Account No.] |
AAACL3521E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of
Card Clothing and Card Room Service Machineries. |
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No. of Employees
: |
1200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2700000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. There seems dip in the profit of the company during 2013 however,
networth of the company is satisfactory. General financial position of the company is good. Trade relations are reported as fair. Business is active. Payments
terms are reported to be usually correct and as per commitment. 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.
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 |
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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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term rating=A |
|
Rating Explanation |
Adequate degree of safety. It carry low
credit risk. |
|
Date |
14.02.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term Rating=A1 |
|
Rating Explanation |
Highest degree of safety. It carry lowest
credit risk. |
|
Date |
14.02.2014 |
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Mohan |
|
Designation : |
Deputy General Manager |
|
Contact No.: |
91-422-2240205 / 6 / 7 / 8 |
|
Date : |
15.07.2014 |
LOCATIONS
|
Registered Office / Factory : |
|
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Tel. No.: |
91-4255-277105 to
277 107 |
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Fax No.: |
91-4255-277107 |
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E-Mail : |
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Website : |
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Corporate Office : |
Lakshmi Plaza,
1089, Avanashi Road, Coimbatore – 641037, Tamilnadu, India |
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Tel. No.: |
91-422-210205 |
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Fax No.: |
91-422-216694 |
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E-Mail : |
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Website: |
DIRECTORS
AS ON 27.09.2013
|
Name : |
Mr. Rangaswamy Santharam |
|
Designation : |
Managing Director |
|
Address : |
Prathishta, New No.241, Old No.183, Race Course, Coimbatore – 641018,
Tamilnadu, India |
|
Date of Birth/Age : |
21.03.1937 |
|
Date of Appointment : |
11.09.1964 |
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DIN No.: |
00151333 |
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Name : |
Mr. Pathy Sundaram |
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Designation : |
Director |
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Address : |
Rasakondalu, |
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Date of Birth/Age : |
17.11.1949 |
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Date of Appointment : |
27.03.1975 |
|
DIN No.: |
00013899 |
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|
|
|
Name : |
Mr. Ralph Armin Graf |
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Designation : |
Director |
|
Address : |
Strandweg 4,
Freienbach, Switzerland 8807 |
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Date of Birth/Age : |
25.08.1939 |
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Date of Appointment : |
30.11.1977 |
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DIN No.: |
01808424 |
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|
|
|
Name : |
Mr. Reddigari Chinna Hanumantha Reddy |
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Designation : |
Director |
|
Address : |
Flat No.A IV/2, 45, Park Avenue, Race Course, Coimbatore – 641018,
Tamilnadu, India |
|
Date of Birth/Age : |
01.06.1935 |
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Date of Appointment : |
26.06.1996 |
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DIN No.: |
00006184 |
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Name : |
Mr. Santharam Harishankar |
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Designation : |
Whole-time director |
|
Address : |
Prathishta, New
No.241, Old No.183, Race Course Road, Coimbatore – 641018, Tamilnadu, India |
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Date of Birth/Age : |
07.05.1973 |
|
Date of Appointment : |
01.04.2012 |
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DIN No.: |
00151265 |
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|
Name : |
Mr. Aditya Krishnapathy |
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Designation : |
Director |
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Address : |
Rasakondalu, 27, |
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Date of Birth/Age : |
31.07.1986 |
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Date of Appointment : |
20.08.2008 |
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DIN No.: |
00062224 |
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|
Name : |
Mr. Balasundaram Sriram |
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Designation : |
Whole Time Director |
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Address : |
1996/9, M R Gardens Near Krishna Colony, Singanallur,
Coimbatore-641005, Tamilnadu, India |
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Date of Birth/Age : |
08.12.1970 |
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Date of Appointment : |
10.12.2012 |
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DIN No.: |
00151097 |
KEY EXECUTIVES
|
Name : |
Mr. Mohan |
|
Designation : |
Deputy General Manager |
MAJOR SHAREHOLDERS
AS ON 27.09.2013
|
Names of Shareholders |
No. of Shares |
|
S. Thulasiammal |
1980 |
|
N. Krishnaveni |
9000 |
|
S. Sunitha |
17870 |
|
J. Vidya |
4800 |
|
D. Andal |
6000 |
|
Adityakrishna Pathy |
43970 |
|
K. Thangavelu and T. Kasthuri |
1200 |
|
S. Vasantha and R. Sumathi |
4800 |
|
R.K.K. Veenakumari |
6360 |
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R. K. K. Indira |
2400 |
|
R. Santharam and S. Harishankar |
990 |
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V.J. Jayaraman |
600 |
|
Asuthosh N. Munshaw |
1980 |
|
Prashanth Chandrran |
1 |
|
B. Abhinav Narayana by M&G Beena Balasubramaniam |
2361 |
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S. Harishankar |
68572 |
|
Aishwarya Lakshmi |
7812 |
|
V. Mohan |
2760 |
|
Sans Craintes Live Stock Private Limited, India |
2640 |
|
S. Pathy and Aditya Krishna Pathy |
37731 |
|
Arjun Karivaradhan |
12458 |
|
Nithin Karivaradhan |
12755 |
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Anirudh Balasubramaniam |
2361 |
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Total
|
251401 |
Equity Share Break up (Percentage of Total Equity)
AS ON 27.09.2013
|
Category |
Percentage |
|
Bodies corporate |
1.05 |
|
Directors or relatives of Directors |
72.26 |
|
Other top fifty shareholders |
26.69 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Card Clothing and Card Room Service Machineries. |
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Products : |
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Exports : |
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Countries : |
·
Bangladesh ·
Indonesia |
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Imports : |
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Products : |
Raw Material |
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Countries : |
European Countries |
GENERAL INFORMATION
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No. of Employees : |
1200 (Approximately) |
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Bankers : |
Bank of Baroda, Main Branch, Bank Road, Coimbatore – 641018, Tamilnadu, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Subbachar and Srinivasan Chartered Accountants |
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Address : |
34,Kalingarayar Street, Tamilnadu, India |
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PAN No: |
AALFS8959F |
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Related Parties : |
· Central Engineering Works · Central Nail Works · Prathishta Weaving and Knitting Company Limited · Infocus Marketing Services Limited · Texcity Engineering · LCC Investments Limited · The Coimbatore Lakshmi Cotton Press Private Limited · The Lakshmi Mills Company Limited · Lakshmi Automatic Loom Works Limited · R. Santharam Marketing Services Private Limited |
CAPITAL STRUCTURE
AS ON 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
251401 |
Equity Shares |
Rs.100/- each |
Rs.25.140 Millions |
|
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|
|
|
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 |
30.000 |
30.000 |
30.000 |
|
(b) Reserves & Surplus |
669.710 |
654.836 |
575.737 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
699.710 |
684.836 |
605.737 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
23.790 |
61.135 |
108.289 |
|
(b) Deferred tax liabilities (Net) |
1.387 |
2.517 |
6.286 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1.231 |
0.632 |
3.157 |
|
Total Non-current Liabilities (3) |
26.408 |
64.284 |
117.732 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
156.791 |
199.011 |
139.131 |
|
(b) Trade payables |
77.621 |
65.271 |
39.709 |
|
(c) Other current
liabilities |
439.226 |
435.827 |
385.334 |
|
(d) Short-term provisions |
57.952 |
63.661 |
84.679 |
|
Total Current Liabilities (4) |
731.590 |
763.770 |
648.853 |
|
|
|
|
|
|
TOTAL |
1457.708 |
1512.890 |
1372.322 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
423.781 |
315.791 |
308.836 |
|
(ii) Intangible Assets |
0.001 |
0.571 |
1.142 |
|
(iii) Capital
work-in-progress |
6.140 |
5.781 |
2.829 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
190.835 |
204.542 |
214.174 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
81.585 |
81.168 |
70.725 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
702.342 |
607.853 |
597.706 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
375.570 |
322.850 |
227.323 |
|
(c) Trade receivables |
186.617 |
158.052 |
171.978 |
|
(d) Cash and cash
equivalents |
171.496 |
386.124 |
344.145 |
|
(e) Short-term loans and
advances |
10.529 |
16.852 |
12.887 |
|
(f) Other current assets |
11.154 |
21.159 |
18.283 |
|
Total Current Assets |
755.366 |
905.037 |
774.616 |
|
|
|
|
|
|
TOTAL |
1457.708 |
1512.890 |
1372.322 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1026.363 |
938.494 |
1013.720 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
113.026 |
190.702 |
246.596 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
39.030 |
41.788 |
49.136 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
73.996 |
148.914 |
197.460 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
22.356 |
26.232 |
53.372 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
51.640 |
122.682 |
144.088 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
460.411 |
393.812 |
325.741 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend at @125% |
31.425 |
37.500 |
52.500 |
|
|
|
Tax on Dividend at @ 16.2225 % |
5.341 |
6.083 |
8.517 |
|
|
|
Transfer to General Reserve |
5.500 |
12.500 |
15.000 |
|
|
BALANCE CARRIED TO
THE B/S |
469.785 |
460.411 |
393.812 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
160.671 |
147.975 |
141.741 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
205.41 |
408.94 |
480.29 |
|
Expected Sales (2013-2014): Rs.1050.000 Millions
The above information has been parted by Mr. Mohan (Deputy General
Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
7.21 |
15.87 |
19.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.87 |
11.43 |
17.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.22 |
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.26 |
0.38 |
0.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03 |
1.18 |
1.19 |
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 |
30.000 |
30.000 |
30.000 |
|
Reserves & Surplus |
575.737 |
654.836 |
669.710 |
|
Net
worth |
605.737 |
684.836 |
699.710 |
|
|
|
|
|
|
long-term borrowings |
108.289 |
61.135 |
23.790 |
|
Short term borrowings |
139.131 |
199.011 |
156.791 |
|
Total
borrowings |
247.420 |
260.146 |
180.581 |
|
Debt/Equity
ratio |
0.408 |
0.380 |
0.258 |
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 |
1013.720 |
938.494 |
1026.363 |
|
|
|
(7.421) |
9.363 |
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
|
1013.720 |
938.494 |
1026.363 |
|
Profit |
144.088 |
122.682 |
51.640 |
|
|
14.21% |
13.07% |
5.03% |
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 |
Yes |
|
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) |
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Deposits from
Shareholders |
18.113 |
22.165 |
|
|
|
|
|
Total |
18.113 |
22.165 |
BANKERS CHARGES REPORT
AS PER REGISTRY
|
Corporate
identity number of the company |
U17219TZ1960PTC000343 |
|
Name of the
company |
Lakshmi Card Clothing Manufacturing Company Private Limited |
|
Address of the
registered office or of the principal place of business in |
Semmipalayam
Village, Kuppuswamy Naidupuram, Palladam Taluk, Coimbatore – 641 662,
Tamilnadu, India |
|
This form is for |
Modification
of charge |
|
Charge
identification number of the modified |
80037926 |
|
Type of charge |
·
Book debts ·
Movable property
(not being pledge) ·
Floating charge ·
Others (FA are
collateral to WC & CA are collateral to TL) |
|
Particular of
charge holder |
Nationalised bank |
|
Nature of description
of the instrument creating or modifying the charge |
·
Composite
Agreement Dated 31.05.2013 for Rs.91.000 Millions by Andhra Bank. ·
Letter
of Discounting Dt.31/05/2013. |
|
Date of
instrument Creating the charge |
31.05.2013 |
|
Amount secured by
the charge |
Rs.390.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest For cash credit:
4.25% above the base rate of the bank and the presentrate is 14.25%pa. For export credit:
as per RBI guidelines. Interest payable on monthly basis Terms of Repayment Working capital
repayable on demand Term loan is repayable as per sanction Margin For Tl not less
than 20% For stock not
less than 25% For book debts at
50% (not more than 90 days) Extent and Operation of the charge Term loan
paripassu first charge on fixed assets and second charge on current assets of
the company jointly with Andhra bank and working capital paripassu first
charge on current assets and second charge on fixed assets of the company
jointly with Andhra bank |
|
Short particulars
of the property charged |
Stocks, stocks in
process and finished goods and stores and spares and book debts of the
company both present and future. |
|
Date of
Modification |
10.01.2013 |
|
Particulars of
the present modification |
·
Total
limits changed from Rs.373.000 Millions to Rs.390.500 Millions ·
Share
of Andhra bank is increased from Rs.153.500 Millions to Rs.171.000 Millions ·
Hypothecation
of assets for the share of Andhra bank created now. ·
All
other conditions remain the same. |
FIXED ASSETS:
· Land
· Buildings
· Plant and equipment
· Electrical Machinery
· Furniture and fixtures
· Vehicles
· Office Equipments
· Computer Equipments
· Library
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 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.103.14 |
|
Euro |
1 |
Rs.81.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
50 |
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.