MIRA
INFORM REPORT
|
Report Date : |
23.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
TVH
CONSUMER PRODUCTS PRIVATE LIMITED (w.e.f. 22.06.2004) |
|
|
|
|
Formerly Known
As : |
VISHAL GARMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
559, Anna Salai,
Teynampet, Chennai – 600 018, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
23.06.1998 |
|
|
|
|
Com. Reg. No.: |
18-040705 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.6.970
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51101TN1998PTC040705 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the
business of trading in consumer products such as Sanitary Wares, Bathroom
Fittings, Tiles, etc. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 155000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having a moderate track record. Profitability of
the company seems to be low. However, trade relations
are reported as fair. Business is active. Payment terms are reported to be
slow but correct. The company can
be considered for business dealings with some cautions. |
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) |
|
|
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
NEWS
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
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
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
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
31-03-2014.
INFORMATION DECLINED
Management non-cooperative
(Tel. No.: 91-44-24347861)
LOCATIONS
|
Registered Office : |
559, Anna Salai,
Teynampet, Chennai – 600 018, |
|
Tel. No.: |
91-44-24349480/ 24347861/ 42012636 |
|
Fax No.: |
91-44-24327177 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr.
Raju Ramesh |
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|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Address : |
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Date of Birth/Age : |
20.05.1965 |
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|
Date of Appointment : |
05.06.2004 |
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DIN No.: |
01574254 |
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Other Directorship:
|
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|
Name : |
T.
Selvamani |
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|
Designation : |
Director |
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Address : |
Old No.15, New No.10, |
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Date of Birth/Age : |
23.09.1965 |
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|
Date of Appointment : |
29.11.2004 |
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|
DIN No.: |
01586989 |
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Other Directorship:
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|
Name : |
Mr.
Kanakkilianallur Narayanareddiar Manivannan |
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|
Designation : |
Director |
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|
Address : |
No.1, Vinayagar Thottam,
Thirumurugan Poondi Post, Tiruppur – 641 652, |
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Date of Birth/Age : |
25.05.1970 |
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|
Date of Appointment : |
23.06.1998 |
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DIN No.: |
02194404 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
P.
V. Lakshmi Devi |
|
800 |
|
N.
Ravichandran |
|
43000 |
|
N.
Manivannan |
|
100 |
|
Bangaru
Ammal |
|
100 |
|
Bangaru
Ammal Jointly with N. Ravichandran |
|
78000 |
|
True
Value Homes India Private Limited, |
|
500000 |
|
Collosseum
Apparels Private Limited, |
|
75000 |
|
Total
|
|
697000 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
82.50 |
|
Directors
or relatives of directors |
|
17.50 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the
business of trading in consumer products such as Sanitary Wares, Bathroom
Fittings, Tiles, etc. |
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|
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|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management. |
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Bankers : |
Punjab National Bank,
150, |
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|
Facilities : |
Notes: Long-term
Borrowings Security
details and terms of re-payment of loans 1.
Term loan from
Punjab National Bank is secured by: a) Hypothecation of
Interior works undertaken at the b) Personal guarantee from
Mr. R. Ramesh (Director), Mr. K.N. Manivannan (Director), Mr. N. Ravichandran
(Brother of Mr. K.N. Manivannan) and Mrs. R. Sankari (Relative of Mr. K.N.
Manivannan) c) Collateral security of
farm land at Utthandi, Chennai - 600119 owned by Mr. N. Ravichandran, Mr.
K.N. Manivannan and Mrs. Sankari. The loan carries interest
rate of 15.25% and is repayable in equal instalments of Rs.0.093 million per
month towards principal and interest is to be serviced as and when levied. 2. Punjab National Bank
has sanctioned Rs.10.000 millions towards inland/ foreign letter of credit.
These are secured by: a) Documents of title
deeds1 merchandise covered under LC. b) Exclusive first charge
on the entire current assets of the company, present and future. c) Margin money which may
extend upto 100% of the LC value as demanded by the bank. Short-term Borrowings Security details and terms of re-payment of loans Cash credit from Punjab
National Bank and secured by: a) Exclusive first charge
by way of hypothecation of stock, receivables and other current assets of the
company both present and future. b) Personal guarantee
from Mr. R. Ramesh (Director), Mr. K. N. Manivannan (Director), Mr. N.
Ravichandran (Brother of Mr. K. N. Manivannan) and Mrs. R. Sankari (Relative
of Mr. K. N. Manivannan) c) Collateral security of
farm land at Utthandi, Chennai - 600119
owned by Mr. N. Ravichandran, Mr. K. N. Manivannan and Mrs. Sankari. The cash credit facility
carries an interest of BR + 4%
(14.75% at the time of sanction) per annum with monthly rests subject
to changes made from time to time. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. Ranga Rao and Company Chartered Accountants |
|
Address : |
“Srinivas”, Ground Floor, 2, Ganapathi Colony, 2nd Street,
Gopalapuram, Chennai – 600 086, |
|
Tel. No.: |
91-44-28352973/ 28353091 |
|
PAN No.: |
AADPR3156P |
|
|
|
|
Holding Company : |
True Value Homes
( CIN No.: U45201TN1997PTC037742 |
|
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|
|
Entities under common control : |
·
Vishal Hosiery Private Limited ·
Oswak Mills Private Limited ·
SNR Rice Industries Private Limited ·
TVH Ekanta (Partnership Firm) ·
Sarvaga Housing Private Limited ·
Ramjey Agencies ·
Shri Narayana Reddiar Modem Rice Mill ·
Ramjey Trading Company ·
Sun Bricks ·
Alphaa Electricals Concepts Private Limited ·
Collosseum Apparels Private Limited ·
Maavadi Project Private Limited ·
Maavadi Soft Tech Ventures ( ·
Maavadi Soft Tech Solutions Private Limited ·
Durgi Property Developers Private Limited ·
Avabha Property Developer Private Limited ·
Mayne Property Developers Private Limited ·
Tarendra Infrastructure Chennai Private Limited ·
Tavas Construction Private Limited ·
Belva Realities Private Limited ·
Edna Properties Private Limited ·
Aazhi Resorts Private Limited ·
TVH Infratel Private Limited ·
TVH Energy Resource Private Limited ·
Tejonidhi Estates Chennai Private Limited ·
Tejorasi Estates Chennai Private Limited ·
G Narayanan Educational Trust ·
Viha Hotels Private Limited ·
Ecodomm Power Private Limited ·
Enertia Energy Private Limited ·
Enenia Green Energy Private Limited ·
Lana Land Developers Private Limited ·
Vidar Green Power Private Limited ·
Phasis Green Energy Private Limited ·
TVH Property developments India Private Limited ·
TVH Property Services India Private Limited ·
TVH Estates Chennai Private Limited ·
TVH Infrastructure Chennai Private Limited ·
TVH Hi- Tech Projects ·
TVH Infrastructures & Developers Private Limited ·
Turviti Infrastructure Chennai Private Limited ·
Classic Enterprises |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
700000 |
Equity Shares |
Rs.10/- each |
Rs.7.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
697000 |
Equity Shares |
Rs.10/- each
|
Rs.6.970
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 |
6.970 |
6.970 |
6.970 |
|
(b) Reserves & Surplus |
31.695 |
31.606 |
24.697 |
|
(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) |
38.665 |
38.576 |
31.667 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
9.514 |
9.895 |
8.196 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term provisions |
1.813 |
2.664 |
1.673 |
|
Total Non-current
Liabilities (3) |
11.327 |
12.559 |
9.869 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
22.748 |
18.669 |
20.545 |
|
(b)
Trade payables |
18.894 |
15.537 |
13.878 |
|
(c)
Other current liabilities |
58.560 |
57.053 |
20.605 |
|
(d) Short-term
provisions |
5.909 |
9.697 |
5.389 |
|
Total Current
Liabilities (4) |
106.111 |
100.956 |
60.417 |
|
|
|
|
|
|
TOTAL |
156.103 |
152.091 |
101.953 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
13.032 |
13.410 |
14.378 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
2.835 |
1.486 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.366 |
0.394 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4.370 |
4.240 |
4.008 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
20.603 |
19.530 |
18.386 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.576 |
|
(b)
Inventories |
81.919 |
77.446 |
57.665 |
|
(c)
Trade receivables |
44.824 |
46.550 |
19.594 |
|
(d) Cash
and cash equivalents |
4.646 |
3.922 |
3.002 |
|
(e)
Short-term loans and advances |
4.111 |
4.643 |
2.730 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
135.500 |
132.561 |
83.567 |
|
|
|
|
|
|
TOTAL |
156.103 |
152.091 |
101.953 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Revenue from Operations |
127.384 |
177.134 |
209.024 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
NA |
NA |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
7.666 |
19.677 |
17.040 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
4.784 |
4.058 |
2.604 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.882 |
15.619 |
14.436 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.771 |
2.710 |
2.453 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
0.111 |
12.909 |
11.983 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.022 |
6.000 |
5.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
0.089 |
6.909 |
6.983 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
31.606 |
24.697 |
17.714 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
31.695 |
31.606 |
24.697 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stock in Trade |
25.981 |
66.063 |
54.890 |
|
|
TOTAL IMPORTS |
25.981 |
66.063 |
54.890 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.13 |
9.91 |
10.02 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.07 |
8.59 |
11.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.33 |
0.38 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.83 |
0.74 |
0.91 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28 |
1.31 |
1.38 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
6.970 |
6.970 |
6.970 |
|
Reserves & Surplus |
24.697 |
31.606 |
31.695 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
31.667 |
38.576 |
38.665 |
|
|
|
|
|
|
Long-term borrowings |
8.196 |
9.895 |
9.514 |
|
Short term borrowings |
20.545 |
18.669 |
22.748 |
|
Total borrowings |
28.741 |
28.564 |
32.262 |
|
Debt/Equity ratio |
0.908 |
0.740 |
0.834 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Gross Revenue from Operations |
209.024 |
177.134 |
127.384 |
|
|
|
(15.257) |
(28.086) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Gross Revenue from Operations |
209.024 |
177.134 |
127.384 |
|
Profit |
6.983 |
6.909 |
0.089 |
|
|
3.34% |
3.90% |
0.07% |
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG-TERM
BORROWINGS |
|
|
|
Loans
and advances from related parties |
7.036 |
9.300 |
|
Total
|
7.036 |
9.300 |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10227876 |
27/05/2010 |
700,000.00 |
PUNJAB NATIONAL BANK |
MYLAPORE BRANCH, 150, |
A89137806 |
|
2 |
10074355 |
19/10/2011 * |
35,000,000.00 |
PUNJAB NATIONAL BANK |
150, |
B24984361 |
* Date of charge modification
CORPORATE INFORMATION
The Company formerly known
as Vishal Garments Private Limited, was incorporated on June 23, 1998. The Company is engaged in the business of trading in
consumer products such as Sanitary Wares, Bathroom Fittings, Tiles, etc.
FUTURE OUTLOOK
The directors are confident
of achieving much better performance in the years to come.
FIXED ASSETS:
·
Plant and Equipments
·
Computers and Peripherals
·
Furniture and Fixtures
·
Vehicles
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.60.24 |
|
|
1 |
Rs.102.87 |
|
Euro |
1 |
Rs.81.44 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.