MIRA
INFORM REPORT
|
Report Date : |
22.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
FIVEBRO INTERNATIONAL PRIVATE LIMITED (w.e.f. 25.08.2009) |
|
|
|
|
Formerly Known
As : |
FIVEBRO WATER SERVICES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Building No. 12A
(House No.13), Sigma Corporate, Behind Rajpath Club, Off |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
24.10.2002 |
|
|
|
|
Com. Reg. No.: |
04-041470 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 4.088 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U41000GJ2002PTC041470 |
|
|
|
|
IEC No.: |
0804000981 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
AHMF00279G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF7550R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Pressure Vessels, Actiflow (used in raw water treatment),
Atmospheric, Storage Tanks, Skids and Support. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 800000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a part of well established “Doshion Group, Ahmedabad”. It
is an established company having moderate track record. The company possesses a moderate financial profile marked by high
financial leverage and high working capital intensity of its operations. Management has reported a drastic dip in its net profitability during
FY13 which has further effected the profit margin which is vulnerable to
volatile raw material prices and its modest scale of operations. However, trade relations seem to be fair. Business is active. Payment
terms are reported as slow but correct. In view of operational synergies that the subject derives being part
of the “Doshion Group”, the subject can be considered for business dealings with
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 |
|
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 |
CARE |
|
Rating |
Long term bank facilities: “B-“ |
|
Rating Explanation |
Risk pronce credit quality and high risk of default. |
|
Date |
16.05.2014 |
|
|
|
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A4“ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
16.05.2014 |
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 DECLINED
Management Non-cooperative. (Tel. No.: 91-79-61609000)
LOCATIONS
|
Registered Office/ Head Office : |
Building No. 12A (House No.13), Sigma Corporate, Behind Rajpath
Club, Off S.G. Road, Bodakdev, Ahmedabad – 380054, Gujarat, India |
|
Tel. No.: |
91-79-61609000 |
|
Fax No.: |
91-79-61609061 |
|
E-Mail : |
|
|
Website : |
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|
Area : |
10000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Godown: |
Plot No. 5D Sector 3, Kandi Special Economic Zone - Gandhidham Kutch,
Gujarat, India
|
|
|
|
|
Branches : |
Located at: Ř Mumbai Ř Chennai Ř Hyderabad Ř Kolkata |
DIRECTORS
As on: 28.09.2013
|
Name : |
Mr. Nishit Dhirajlal Doshi |
|
Designation : |
Director |
|
Address : |
71, Oceana Apartment, Kelushkar, Kelushkar Road, Shivaji Park, Mumbai
- 400028, Maharashtra, India |
|
Date of Birth/Age : |
13.08.1967 |
|
Qualification : |
M.Com and MBA Finance |
|
Experience : |
30 Years |
|
Date of Appointment : |
24.10.2002 |
|
DIN No.: |
00151001 |
|
|
|
|
Name : |
Mrs. Ramilaben Dhirajlal Doshi |
|
Designation : |
Director |
|
Address : |
71, Oceana Apartment, Kelushkar, Kelushkar Road, Shivaji Park, Mumbai
- 400028, Maharashtra, India |
|
Date of Birth/Age : |
27.11.1943 |
|
Qualification : |
B.Com |
|
Experience : |
50 Years |
|
Date of Appointment : |
01.05.2004 |
|
DIN No.: |
00151037 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 28.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Nishit D. Doshi |
|
5000 |
|
Pooja Doshi |
|
37500 |
|
Purvi Doshi |
|
37500 |
|
Kalpana A. Doshi |
|
37500 |
|
Rupa Doshi |
|
32500 |
|
Krupa Doshi |
|
37500 |
|
Ramilaben D. Doshi |
|
62500 |
|
Darshan International Private Limited, Mauritius |
|
158815 |
|
|
|
|
|
Total |
|
408815 |
Equity Share Break up (Percentage of Total Equity)
As on: 28.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
38.85 |
|
Directors or relatives of directors |
|
61.15 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pressure Vessels, Actiflow (used in raw water
treatment), Atmospheric, Storage Tanks, Skids and Support. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
· Indusind Bank Limited, World Business House, M. G. Road, Near Parimal Garden, Ellis Bridge, Ahmedabad - 380015, Gujarat, India · Bank of Maharashtra, Corporate Finance Branch, 1183/A, F.C. Road,, Pune - 411005, Maharashtra, India ·
IDBI Bank Limited, IDBI Complex. Opposite
Minciple Staff Quarters, Near Lal Bunglow, Off. C.G. Road,, Ahmedabad -
380006, Gujarat, India, |
|||||||||||||||||||||||||||||||||
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|||||||||||||||||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deepak C. Gandhi and Company Chartered Accountants |
|
Address : |
7, Shakti Shopping Centre, Vepari Jeen, Kalol – 382721, Gujarat, India
|
|
Tel. No.: |
91-79-26565130 / 02764-223474 |
|
E-Mail : |
|
|
PAN No.: |
AATPG7928C |
|
|
|
|
Enterprises over which Key Management personnel/ relative are able to
exercise their significant influence : |
· Doshion Veolia Water Solutions Private Limited · Doshion Limited · Pacific Pipe Systems Private Limited · Doshi and Company · Fivebro Water Services · De Aryans Private Limited |
CAPITAL STRUCTURE
As on: 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
408815 |
Equity Shares |
Rs. 10/- each |
Rs. 4.088
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 |
4.088 |
4.088 |
4.088 |
|
(b) Reserves & Surplus |
197.095 |
193.348 |
168.198 |
|
(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) |
201.183 |
197.436 |
172.286 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
286.111 |
315.950 |
298.298 |
|
(b) Deferred tax liabilities (Net) |
12.275 |
10.069 |
4.295 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
5.193 |
4.064 |
3.118 |
|
Total Non-current
Liabilities (3) |
303.579 |
330.083 |
305.711 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
198.627 |
121.751 |
43.523 |
|
(b) Trade
payables |
233.494 |
203.450 |
206.752 |
|
(c)
Other current liabilities |
27.155 |
20.298 |
12.557 |
|
(d) Short-term
provisions |
24.693 |
20.105 |
23.980 |
|
Total Current
Liabilities (4) |
483.969 |
365.604 |
286.812 |
|
|
|
|
|
|
TOTAL |
988.731 |
893.123 |
764.809 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
255.844 |
237.721 |
236.727 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.124 |
10.471 |
163.233 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
255.968 |
248.192 |
399.960 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
184.604 |
185.091 |
136.955 |
|
(c)
Trade receivables |
265.813 |
119.390 |
142.799 |
|
(d) Cash
and cash equivalents |
26.658 |
5.801 |
34.795 |
|
(e)
Short-term loans and advances |
255.688 |
334.649 |
50.300 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
732.763 |
644.931 |
364.849 |
|
|
|
|
|
|
TOTAL |
988.731 |
893.123 |
764.809 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
826.117 |
709.587 |
341.672 |
|
|
Other Income |
35.175 |
6.701 |
5.536 |
|
|
TOTAL (A) |
861.292 |
716.288 |
347.208 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
666.002 |
572.177 |
256.972 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.720 |
(31.507) |
(8.829) |
|
|
Employees benefits
expense |
64.931 |
52.118 |
39.892 |
|
|
Other expenses |
51.698 |
42.768 |
25.337 |
|
|
TOTAL (B) |
783.351 |
635.556 |
313.372 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
77.941 |
80.732 |
33.836 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
61.390 |
33.525 |
14.668 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
16.551 |
47.207 |
19.168 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.496 |
7.978 |
4.410 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
8.055 |
39.229 |
14.758 |
|
|
|
|
|
|
|
Less |
TAX (H) |
4.308 |
14.079 |
6.759 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
3.747 |
25.150 |
7.999 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
92.339 |
0.255 |
0.637 |
|
|
Purchase Incentive |
0.000 |
2.583 |
0.000 |
|
|
TOTAL EARNINGS |
92.339 |
2.838 |
0.637 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Components and Stores
parts |
194.190 |
139.068 |
151.356 |
|
|
Plan and Machinery |
0.000 |
0.000 |
3.247 |
|
|
TOTAL IMPORTS |
194.190 |
139.068 |
154.603 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
9.16 |
61.52 |
19.57 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.44 |
3.51 |
2.30 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.98 |
5.53 |
4.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.81 |
4.39 |
1.93 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.20 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.41 |
2.22 |
1.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.51 |
1.76 |
1.27 |
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 |
4.088 |
4.088 |
4.088 |
|
Reserves & Surplus |
168.198 |
193.348 |
197.095 |
|
Net worth |
172.286 |
197.436 |
201.183 |
|
|
|
|
|
|
long-term borrowings |
298.298 |
315.950 |
286.111 |
|
Short term borrowings |
43.523 |
121.751 |
198.627 |
|
Total borrowings |
341.821 |
437.701 |
484.738 |
|
Debt/Equity ratio |
1.984 |
2.217 |
2.409 |
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 |
341.672 |
709.587 |
826.117 |
|
|
|
107.681 |
16.422 |
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 |
341.672 |
709.587 |
826.117 |
|
Profit |
7.999 |
25.150 |
3.747 |
|
|
2.34% |
3.54% |
0.45% |
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 |
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 |
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 |
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 LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
From directors and related parties |
244.810 |
250.637 |
|
|
|
|
|
Total |
244.810 |
250.637 |
OPERATIONS:
In view of slowdown in the economic, the total revenue of the company
has increase to Rs. 861.292 Millions (P.Y. Rs. 716.288 Millions). The net
profit after tax has decreased to Rs. 3.747 Millions as compared to previous
year’s net profit of Rs. 25.150 Millions. The EPS has also decreased from Rs.
61.52 to Rs. 9.16.
Note: The Registered
Office of the company has been shifted from 103/A, 10th Floor,
Tirthbhoomi Appartment, Near Law Lgarden, Ellisbridge – 380009, Ahmedabad –
380009, Gujarat, India to the present address w.e.f. 04.05.2012.
FIXED ASSETS:
Ř Land
Ř Building
Ř Equipments
Ř Electric
Installation
Ř Furniture and
Fixture
Ř Vehicles
Ř Trucks
Ř Air Conditioner
Ř Computer
Ř Plant and
Machinery
Ř Bore-well
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. 60.19 |
|
|
1 |
Rs. 102.87 |
|
Euro |
1 |
Rs. 81.48 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.