MIRA
INFORM REPORT
|
Report Date : |
25.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
HYD-AIR ENGINEERING
PRIVATE LIMITED |
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|
|
|
Registered
Office : |
Plot No.C-7, Street
No.22, M.I.D.C., Marol Industrial Area, Andheri (East), Mumbai – 400 093, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
02.12.1981 |
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Com. Reg. No.: |
11-025760 |
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Capital
Investment / Paid-up Capital : |
Rs.0.292
million |
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CIN No.: [Company Identification
No.] |
U99999MH1981PTC025760 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of hydraulic fittings, valves and
accessories. |
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No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 63000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an
established company having moderate track record. The rating is
constrained on account of company’s moderate financial risk profile and
losses that company has incurred from its operational activities. However, trade
relations are fair. Business is active. Payments are reported to be slow but
correct. The company can
be considered for business dealing with some 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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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
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 PARTED BY
|
Name : |
Mr. Abizar |
|
Designation : |
Marketing Head |
|
Contact No.: |
91-9821312866 |
|
Date : |
24.07.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No.C-7, Street
No.22, M.I.D.C., Marol Industrial Area, Andheri (East), Mumbai – 400 093, |
|
Tel. No.: |
91-22-28329325/
28372280/ 28362830 91-22-67024018 (Sales) |
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Mobile No.: |
91-9821312866 (Mr. Abizar) |
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Fax No.: |
91-22-28372281 |
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E-Mail : |
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|
Website : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr.
Nadir Shamoon Karachiwala |
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|
Designation : |
Director |
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|
Address : |
Avillion Apartment, Flat
No.12, 3rd Floor, Little Gibbs Road, Malabar Hill, Mumbai – 400
006, Maharashtra, India |
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Date of Birth/Age : |
31.12.1937 |
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Date of Appointment : |
02.12.1981 |
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DIN No.: |
00293574 |
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Other Directorship:
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||||||||||||||||||||||||||||||||||||
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Name : |
Mrs.
Kulsum Nadir Karachiwala |
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Designation : |
Director |
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|
Address : |
Avillion Apartment, Flat
No.12, 3rd Floor, Little Gibbs Road, Malabar Hill, Mumbai – 400
006, Maharashtra, India |
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Date of Birth/Age : |
11.05.1942 |
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Date of Appointment : |
01.02.2005 |
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DIN No.: |
00300282 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Abizar |
|
Designation : |
Marketing Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Nadir
Shamoon Karachiwala |
1170 |
40.01 |
|
Kulsum
Nadir Karachiwala |
1170 |
40.01 |
|
Zuher
Nadir Karachiwala |
292 |
9.99 |
|
Quresh
Nadir Karachiwala |
292 |
9.99 |
|
Total
|
2924 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of hydraulic fittings, valves and
accessories. |
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|
Products : |
·
Straight Couplings ·
Equal Elbow ·
Equal Tee ·
Banjo Connectors ·
Ferrules ·
Coupling Nuts ·
Stainless Fittings ·
Hose Tubes ·
Ball Valves ·
Coupling and Cap ·
Coupling and Plug ·
Switch Pressure ·
Valves Stucchi ·
B/W and S/W Fitting ·
Flanges |
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Exports : |
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Products : |
·
Finished Goods |
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Countries : |
·
USA |
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Imports : |
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Products : |
·
Raw Materials |
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Countries : |
·
Germany ·
Italy |
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Terms : |
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Selling : |
Depend |
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Purchasing : |
Depend |
PRODUCTION STATUS [AS ON 31.03.2013]:
Licensed Capacity and Installed Capacity: Not
Applicable
|
Particulars |
Unit |
Actual
Production |
|
Hydraulic
Fittings |
Qty. in Nos. |
435829 |
GENERAL INFORMATION
|
Suppliers : |
·
Bright Steel Corporation |
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Customers : |
Others ·
Bharat Heavy Electricals
Limited (BHEL) |
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No. of Employees : |
30 (Approximately) |
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Bankers : |
·
The Cosmos Co-operative Bank Limited, Dadar Branch ,36A, Maru Niketan,
D.L. Vaidya Road Dadar (West), Mumbai – 400 028, Maharashtra, India ·
Bank of Baroda |
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Facilities : |
Notes: LONG TERM BORROWINGS i)
Term Loans from Bank include: (a) During the year the
company has swapped its Term loan with Bank of Baroda with Term Loan from
Cosmos Bank. The said loan with the Cosmos Bank has been secured against Land
and Building at MIDC Pune and is repayable in equal monthly instalments of
Rs.0.152 million carrying interest rate linked to the base rate. The Total
outstanding amount as on 31st March 2013 is Rs.1.134 millions
(Previous Year - Rs. Nil) and is shown as the current maturity of Long term
borrowings under current liabilities since the entire amount will be repaid
within 12 months. ii) The Company has taken
Secured Loans from Financial Institutions from three Financial Institution as
under: (a) A Loan taken from Kotak
Mahindra Prime Limited for purchase of motor car which is repayable in 34
equal monthly instalments of Rs.0.048 million. The said loan is secured
against the personal guarantee of the Director and the total outstanding as
on 31st March 2013 is Rs.0.928 million (Previous Year - Rs. Nil) (b) Loans taken from Alta
Leasing and Finance Limited for the purchase of machinery. The said loans are
secured by hypothecation of machine. They are repayable in equal monthly
instalments. They carry an interest rate of 8%-8.2%. Total outstanding as on
31st March, 2013 is Rs.2.338 millions (Previous Year - Rs.3.583
millions) (c) Loan from Kotak
Mahindra Prime Limited for purchase of motor car. The said loan is secured
against the personal guarantee of the Director. It is repayable in equal
monthly instalments of Rs.0.036 million. The total outstanding as on 31st
March, 2013 is Rs.0.210 million (Previous Year – 0.600 million) SHORT TERM BORROWINGS i) The Secured Loan from
Banks includes Cash Credit taken from the Cosmos Co-Operative Bank Limited,
and is secured against charge of all current assets. Total outstanding as on
31st March, 2013 is Rs.4.156 millions (Previous Year - Rs. Nil). ii) The Secured loan from
Banks includes Packing Credit availed from The Cosmos Co-operative Bank
Limited with a sanction limit of Rs.4.000 millions and is secured against
goods and foreign bills (Previous Year Rs. Nil) iii) The Secured Loans
from financial institutions is from Alta Leasing and Finance Limited and is
secured against Bills Discounted. Total outstanding as on 31st
March, 2013 is Rs.1.175 millions (Previous Year-Rs.1.339 millions) |
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Banking
Relations : |
-- |
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|
Financial Institutions : |
·
Alta Leasing and Finance Limited ·
Kotak Mahindra Prime Limited |
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Auditors : |
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|
Name : |
Contractor Nayak and Kishnadwala Chartered Accountants |
|
Address : |
Jash Chambers, 3rd Floor, 7-A, Sir P.M. Road, Fort, Mumbai
– 400 001, Maharashtra, India |
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PAN No.: |
AACFC8587E |
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Associate Companies |
Hyd-Air
USA Inc. |
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|
Companies in which the directors and their
relatives hold more than 20% of beneficial interest : |
·
Woerner Lubrications India Private Limited ·
Kuna Flexible Hose Private Limited |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000 |
Equity Shares |
Rs.100/- each |
Rs.0.300 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2924 |
Equity Shares |
Rs.100/-
each |
Rs.0.292
million |
|
|
|
|
|
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 |
0.292 |
0.292 |
0.292 |
|
(b) Reserves & Surplus |
15.347 |
16.280 |
18.106 |
|
(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) |
15.639 |
16.572 |
18.398 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
1.264 |
3.262 |
3.408 |
|
(b) Deferred tax liabilities (Net) |
0.377 |
1.616 |
1.562 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
1.641 |
4.878 |
4.970 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
12.557 |
6.755 |
5.195 |
|
(b)
Trade payables |
33.918 |
28.560 |
28.397 |
|
(c)
Other current liabilities |
8.193 |
6.152 |
7.248 |
|
(d) Short-term provisions |
0.000 |
0.000 |
1.171 |
|
Total Current
Liabilities (4) |
54.668 |
41.467 |
42.011 |
|
|
|
|
|
|
TOTAL |
71.948 |
62.917 |
65.379 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
25.630 |
28.078 |
27.323 |
|
(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 |
2.767 |
0.547 |
0.128 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.998 |
1.743 |
1.631 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
30.395 |
30.368 |
29.082 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
14.740 |
13.740 |
5.569 |
|
(c)
Trade receivables |
25.358 |
16.477 |
29.655 |
|
(d) Cash
and cash equivalents |
1.242 |
1.381 |
0.493 |
|
(e)
Short-term loans and advances |
0.113 |
0.535 |
0.429 |
|
(f)
Other current assets |
0.100 |
0.416 |
0.151 |
|
Total
Current Assets |
41.553 |
32.549 |
36.297 |
|
|
|
|
|
|
TOTAL |
71.948 |
62.917 |
65.379 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
73.430 |
63.633 |
72.350 |
|
|
|
Other Income |
1.145 |
0.802 |
4.997 |
|
|
|
TOTAL (A) |
74.575 |
64.435 |
77.347 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Cost of Material |
76.694 |
66.191 |
37.530 |
|
|
|
Employees Remuneration |
|
|
11.062 |
|
|
|
Operating Expenses |
|
|
11.407 |
|
|
|
Administrative, Selling and Other Expenses |
|
|
7.106 |
|
|
|
TOTAL (B) |
76.694 (including
financial and depreciation) |
66.191 (including
financial and depreciation) |
67.105 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
10.242 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST &
FINANCIAL EXPENSES (D) |
|
|
1.267 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
8.975 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
3.045 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(2.119) |
(1.756) |
5.930 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(1.186) |
0.054 |
1.951 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(0.933) |
(1.810) |
3.979 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
6.188 |
8.014 |
10.001 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim
Dividend |
0.000 |
0.000 |
4.748 |
|
|
|
Dividend
Distribution Tax |
0.000 |
0.000 |
0.789 |
|
|
|
Interest
Payable on DDT |
0.000 |
0.016 |
0.031 |
|
|
|
Transfer
to General Reserve |
0.000 |
0.000 |
0.398 |
|
|
BALANCE CARRIED
TO THE B/S |
5.255 |
6.188 |
8.014 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB
Value of Goods Exported |
19.883 |
3.143 |
0.000 |
|
|
TOTAL EARNINGS |
19.883 |
3.143 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Vendor
Components |
0.000 |
0.394 |
1.692 |
|
|
|
Traded
Goods |
1.896 |
1.197 |
0.046 |
|
|
TOTAL IMPORTS |
1.896 |
1.591 |
1.738 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(319.19) |
(618.99) |
1360.90 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
100.000 |
|
|
|
|
|
The above information has been parted by Mr. Abizar (Marketing Head).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(1.25) |
(2.81) |
5.14 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(2.89) |
(2.76) |
8.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.06) |
(2.82) |
9.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.14) |
(0.11 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.88 |
0.60 |
0.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.76 |
0.78 |
0.86 |
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 |
0.292 |
0.292 |
0.292 |
|
Reserves & Surplus |
18.106 |
16.280 |
15.347 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
18.398 |
16.572 |
15.639 |
|
|
|
|
|
|
Long-term borrowings |
3.408 |
3.262 |
1.264 |
|
Short term borrowings |
5.195 |
6.755 |
12.557 |
|
Total borrowings |
8.603 |
10.017 |
13.821 |
|
Debt/Equity ratio |
0.468 |
0.604 |
0.884 |
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) |
|
Net Sales |
72.350 |
63.633 |
73.430 |
|
|
|
(12.048) |
15.396 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Net Sales |
72.350 |
63.633 |
73.430 |
|
Profit |
3.979 |
(1.810) |
(0.933) |
|
|
5.50% |
(2.84%) |
(1.27%) |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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] |
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 |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10401129 |
17/09/2012 |
18,400,000.00 |
THE COSMOS CO-OPERATIVE
BANK LIMITED |
DADAR BRANCH, 36A, MARU NIKETAN, D.L. VAIDYA
ROAD |
B63618326 |
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans
from Directors and Related Parties |
3.226 |
3.276 |
|
Total
|
3.226 |
3.276 |
Note:
The registered office of the company has been shifted from Maskati House, 76, Mohmedali Road, Bombay – 400 003, Maharashtra to the present address w.e.f. 01.10.2007.
BUSINESS OPERATIONS:
During the financial year
the company’s loss after tax have reduced by 48.43% from last year. Even though
the company has incurred a loss in the current year, its performance has
improved as compared to last year despite difficulties in economic environment
of the country. The company expects that it will help improve results in the
coming years.
FIXED ASSETS:
·
Leasehold
land (MIDC)
·
Land
at MIDC Pune
·
Factory
Building (MIDC)
·
Girikunj
Premises B-14
·
Plant
and Machinery
·
Electrical
Installation
·
Furniture
and Fixtures
·
Air
Conditioner
·
Motor
Car
·
Inspection
Equipment *
·
Office
Equipment
·
Racks
·
Weighing
machine *
·
Computer
·
Electronic
Typewriter
·
Xerox
Machine
·
Building
(Chakkan)
*
The Assets of the company which have been depreciated to the extent of 95 % of
the cost of Asset hence not further depreciated within the provision of section
205 C of Companies Act, 1956 has been provided.
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.60.00 |
|
|
1 |
Rs.102.19 |
|
Euro |
1 |
Rs.80.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
- |
|
--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 |
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 |
|
27 |
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.