MIRA
INFORM REPORT
|
Report Date : |
19.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
CALDERYS INDIA REFRACTORIES LIMITED (w.e.f. March 2012) |
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|
|
|
Formerly Known
As : |
ACE CALDERYS LIMITED (w.e.f. 13.04.2008) ACE REFRACTORIES LIMITED |
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|
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Registered
Office : |
Katni Refractories
Works, |
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|
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|
Country : |
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Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
12.08.2005 |
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|
|
|
Com. Reg. No.: |
11-017865 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.349.494 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U02692MP2005PLC017865 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCA3610G |
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|
|
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Refractory Materials. |
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|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (67) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 9275000 |
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company have a fine track record. It is India’s
second largest refractory manufacturer. Financially company seems to be strong. Liquidity position is good.
There are no external borrowing recorded by the company. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and ad per commitment. The company can be consider for normal 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
India Rating (FITCH) |
|
Rating |
Long term issuer rating AA |
|
Rating Explanation |
Have high degree of safety and carry low credit
risk. |
|
Date |
September 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 DENIED
MANAGEMENT NON CO-OPERATIVE (91-712-2528506)
LOCATIONS
|
Registered Office / Factory 1 : |
Katni Refractories
Works, PO Katni - 483504, Madhya Pradesh, India |
|
Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Head Office / Factory 2: |
Thapar House, Temple Road, Civil Lines, Nagpur – 440001, Maharashtra,
India |
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Tel. No.: |
91-712-2528506 / 2530885 |
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Fax No.: |
91-712-2530885 |
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E-Mail : |
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Branch Office : |
131/132, D-Wing, First Floor, Clover Centre, 7 Moledina
Road, Pune – 411001, Maharashtra, India |
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E-Mail : |
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Factory 3 : |
6th Floor, Fidvi Tower, Mount
Road, Opposite Saraf Chamber Sadar,
Nagpur – 440001, Maharashtra,
India |
|
Tel. No.: |
91-712-2536228 |
|
Fax No.: |
91-712-2530885 |
|
Location : |
Rented |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Hakimuddin Ali |
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Designation : |
Managing Director |
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Address : |
107, Hakimi Villa, Fakhri
Hills, Lulla Nagar, Kondhwa, Pune – 411048, Maharashtra, India |
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Date of Birth/Age : |
18.05.1969 |
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Date of Appointment : |
01.01.2011 |
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DIN No.: |
03383031 |
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Other
Directorship:
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Name : |
Mr. Umesh Chander Deveshwar |
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Designation : |
Whole-time director |
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Address : |
302, Marina Residency, Plot No. 2/2, Nelson Square, near Poonam Chambers, Nagpur –
440013, Maharashtra, India |
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Date of Birth/Age : |
08.10.1948 |
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Date of Appointment : |
24.09.2011 |
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DIN No.: |
00121332 |
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Other
Directorship:
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Name : |
Christian Louis Marie Marin |
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Designation : |
Nominee director |
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Address : |
1 Bis Rue Du Doctuer Rousseau, Epernay,
51200, France |
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Date of Birth/Age : |
24.12.1966 |
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Date of Appointment : |
16.06.2008 |
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DIN No.: |
02241732 |
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Other
Directorship:
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Name : |
Remy Serafin |
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Designation : |
Director |
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Address : |
8 Rue Belissen,
69005 Lyon, France |
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Date of Birth/Age : |
23.03.1971 |
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Date of Appointment : |
30.09.2013 |
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DIN No.: |
06670778 |
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KEY EXECUTIVES
|
Name : |
Mr. Manoj Kakani |
|
Designation : |
Secretary |
|
Address : |
D5, Sanchayani Building, Swalambi
Nagar, Nagpur, Maharashtra, India |
|
Date of Birth/Age : |
18.04.1976 |
|
Date of Appointment : |
29.01.2009 |
|
PAN No.: |
AFXPK1128F |
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|
|
|
Name : |
Mr. S.Z. Patil |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Imerys Asia Pacific Pte
Limited, France |
34952308 |
|
Tapan Kumar Biswas |
1 |
|
Ramkumar Dubey |
1 |
|
A K Vishwakarma |
1 |
|
Shyamal Bhattacharjee |
1 |
|
N. P. Singh |
1 |
|
Ashish Kumar Sanyal |
1 |
|
Naveen S. |
162 |
|
Total |
34952476 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
99.90 |
|
Directors or relatives of Directors |
0.05 |
|
Other top fifty shareholders |
0.05 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Refractory Materials. |
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Products : |
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Exports : |
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Products : |
Refractory Materials |
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Countries : |
European Country |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
No. of Employees : |
200 (Approximately) |
|
|
|
|
Bankers : |
Ø State Bank of
India, Corporate Group Branch, Voltas House, 23, JN
Heredia Marg, Mumbai -
400001, Maharashtra, India Ø ICICI Bank
Limited, Landmarkrace Cource
Circle, Alkapuri, Baroda – 390015, Gujarat, India Ø Union Bank of
India, 239, Vidhan Bhavan
Marg, Nariman Point,
Mumbai – 400021, Maharashtra, India Ø State Bank of
India, Industrial Finance Branch, 5, Sai Complex, Bharat Nagar, Amravati Road, Nagpur - 440033,
Maharashtra, India Ø Bank of Maharashtra Sitabuldi Branch, Sitabuldi, Nagpur - 440012, Maharashtra, India |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. R. Batliboi and Associates Chartered Accountants |
|
Address : |
14th Floor, The Ruby, 29 Senapati
Bapat Marg, Dadar (West), Mumbai, Maharashtra,
India |
|
PAN
No. : |
AABFS3421N |
|
|
|
|
|
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Holding Company : |
Ø Imerys Asia Pacific Pte Limited, France |
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|
|
|
Ultimate Holding Company: |
Ø Imerys Limited |
|
|
|
|
Group Company : |
Ø Ex-Servicemen’s Multipurpose
Services India Private Limited, India CIN No. :
U74994MH1988PTC046992 Ø Calderys Deutschland Gmbh And
Company Ohg, Germany Ø Calderys France SAS, France Ø Calderys UK Limited, United Kingdom Ø Calderys South Africa Pty Limited, South Africa Ø Calderys The Netherlands BV, Netherlands Ø Imerys Performance and Filtration Minerals Private Limited, India CIN No. :
U14200MH2002PTC217789 Ø Calderys Jiansgsu Company
Limited, China Ø Calderys Taiwan Company Limited, Taiwan, Province of
China Ø Calderys Itlia S.r, Italy Ø Calderys Nordic AB, Sweden Ø Calderys Iberica Refractories, Spain
Ø Imerys Ceramics (India) Private Limited, India Ø Caldeys Australia, Australia Ø Calderys Magyarorsza, Hungary Ø Imerys Limited, France Ø Imerys Minerals (India) Private Limited, India |
CAPITAL STRUCTURE
After 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
51000000 |
Equity Shares |
Rs.10/- each |
Rs.510.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
34952476 |
Equity Shares |
Rs.10/- each |
Rs.349.525 Millions |
|
|
|
|
|
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
51000000 |
Equity Shares |
Rs.10/- each |
Rs.510.000 Millions |
|
|
|
|
|
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
34949376 |
Equity Shares |
Rs.10/- each |
Rs.349.494 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 |
349.494 |
377.694 |
419.765 |
|
(b) Reserves & Surplus |
1969.300 |
2154.400 |
2026.400 |
|
(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) |
2318.794 |
2532.094 |
2446.165 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
13.500 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
84.700 |
81.800 |
60.300 |
|
Total
Non-current Liabilities (3) |
98.200 |
81.800 |
60.300 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
1042.600 |
1179.100 |
855.500 |
|
(c) Other current liabilities |
107.306 |
146.406 |
200.400 |
|
(d) Short-term provisions |
51.700 |
29.900 |
6.100 |
|
Total
Current Liabilities (4) |
1201.606 |
1355.406 |
1062.000 |
|
|
|
|
|
|
TOTAL |
3618.600 |
3969.300 |
3568.465 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
964.700 |
999.100 |
1064.700 |
|
(ii) Intangible Assets |
236.600 |
260.600 |
284.800 |
|
(iii) Capital work-in-progress |
24.300 |
19.400 |
8.400 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
47.300 |
38.700 |
30.900 |
|
(c) Deferred tax assets (net) |
0.000 |
31.400 |
3.300 |
|
(d) Long-term Loan
and Advances |
80.600 |
69.600 |
47.100 |
|
(e) Other Non-current assets |
27.300 |
39.100 |
36.700 |
|
Total
Non-Current Assets |
1380.800 |
1457.900 |
1475.900 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
321.700 |
370.000 |
161.200 |
|
(b) Inventories |
508.800 |
668.200 |
596.863 |
|
(c) Trade receivables |
861.500 |
877.600 |
750.400 |
|
(d) Cash and cash equivalents |
447.600 |
443.000 |
301.700 |
|
(e) Short-term loans and advances |
80.900 |
113.500 |
266.400 |
|
(f) Other current assets |
17.300 |
39.100 |
16.002 |
|
Total
Current Assets |
2237.800 |
2511.400 |
2092.565 |
|
|
|
|
|
|
TOTAL |
3618.600 |
3969.300 |
3568.465 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
SALES |
|
|
|
|
|
Income |
5362.000 |
5747.100 |
5016.800 |
|
|
Other Income |
82.700 |
71.100 |
114.600 |
|
|
TOTAL (A) |
5444.700 |
5818.200 |
5131.400 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
2442.900 |
2438.700 |
2049.700 |
|
|
Purchases of Stock-in-Trade |
873.700 |
985.600 |
975.300 |
|
|
Changes in inventories of finished goods, work-in-progress and
Stock-in-Trade |
(6.800) |
(3.500) |
(38.900) |
|
|
Employees benefits expense |
305.700 |
334.300 |
283.700 |
|
|
Other expenses |
866.100 |
948.000 |
849.200 |
|
|
TOTAL (B) |
4481.600 |
4703.100 |
4119.000 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
963.100 |
1115.100 |
1012.400 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.700 |
0.800 |
4.300 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
962.400 |
1114.300 |
1008.100 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
110.500 |
107.600 |
147.200 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
851.900 |
1006.700 |
860.900 |
|
|
|
|
|
|
|
Less |
TAX (I) |
263.200 |
331.800 |
276.500 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
588.700 |
674.900 |
584.400 |
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
15.59 |
16.11 |
25.38 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
10.81
|
11.60 |
11.39 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
15.89
|
17.52 |
17.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.02
|
25.95 |
24.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37
|
0.40 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.86
|
1.85 |
1.97 |
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 |
419.765 |
377.694 |
349.494 |
|
Reserves & Surplus |
2026.400 |
2154.400 |
1969.300 |
|
Net
worth |
2446.165 |
2532.094 |
2318.794 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
5016.800 |
5747.100 |
5362.000 |
|
|
|
14.557 |
(6.701) |
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 |
5016.800 |
5747.100 |
5362.000 |
|
Profit |
584.400 |
674.900 |
588.700 |
|
|
11.65% |
11.74% |
10.98% |
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 |
No |
|
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 |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
80006007 |
12/06/2006 * |
200,000,000.00 |
UNION BANK OF INDIA |
239, VIDHAN BHAVAN MARG, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA,
INDIA |
- |
|
2 |
80006254 |
01/06/2007 * |
350,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA -390015, GUJARAT, INDIA |
A16546764 |
|
3 |
80006006 |
25/10/2012 * |
400,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, 5, SAI COMPLEX, BHARAT |
B62601372 |
* Date of charge modification
FIXED ASSETS
œ
Land
œ
Factory Building
œ
Factory Equipments
œ
Furniture and Fixtures
œ
Motor Vehicles
œ
Leasehold Improvements
œ
Railway Sidings
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.60.33 |
|
|
1 |
Rs.103.18 |
|
Euro |
1 |
Rs.81.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
67 |
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.