MIRA
INFORM REPORT
|
Report Date : |
29.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
GANON TRADING AND FINANCE COMPANY LIMITED |
|
|
|
|
Registered
Office : |
G-2, Ground Floor Prabha Co-Operative Housing Society, R. B.
Mehta Marg, Near Canara Bank, Ghatkopar (East), Mumbai – 400077, |
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|
|
|
Country : |
|
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|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
02.07.1985 |
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|
|
|
Com. Reg. No.: |
11-036708 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.93.312 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L51900MH1985PLC036708 |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Trader of Agro Commodities. |
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|
|
|
No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 a moderate track record. Reserve of the company seems to be low. However, trade relations are reported as fair. Business is active.
Payment terms are slow but correct. The company can be considered for business dealings 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.
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization policies.
A firm called Ciane Analytics studied returns from assets including
equities, gold, fixed deposits, G-Secs and real estate since 1991. Real estate
outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
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 (GENERAL DETAILS)
|
Name : |
Mr. Kuldeep |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-25010506 |
|
Date : |
25.07.2014 |
LOCATIONS
|
Registered Office : |
G-2, Ground Floor Prabha Co-Operative Housing Society, R.
B. Mehta Marg, Near Canara Bank, Ghatkopar (East), Mumbai – 400077,
Maharashtra, India |
|
Tel. No.: |
91-22-25010506 |
|
Fax No.: |
91-22-25010508 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
Locality : |
Commercial |
DIRECTORS
As on: 31.03.2013
|
Name : |
Mr. Madan Lal Goyal |
|
Designation : |
Non- Executive |
|
|
|
|
Name : |
Mr. Hari Prasad Agarwal |
|
Designation : |
Non- Executive |
|
|
|
|
Name : |
Mr. Manish Tiwari |
|
Designation : |
Non- Executive and Independent |
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|
|
|
Name : |
Mr. Dwarka Prasad Agarwal |
|
Designation : |
Non- Executive and Independent |
|
Date of Birth/Age : |
01.04.1970 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
24.03.2012 |
KEY EXECUTIVES
|
Name : |
Mr. Kuldeep |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 31.03.2014
|
Category of
Shareholder |
Total
No. of Shares |
As a % |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
(1) Indian |
|
|
|
|
2356000 |
25.25 |
|
|
2356000 |
25.25 |
|
|
|
|
|
Total shareholding
of Promoter and Promoter Group (A) |
2356000 |
25.25 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
60375 |
0.65 |
|
|
6914625 |
74.10 |
|
|
6975000 |
74.75 |
|
Total Public
shareholding (B) |
6975000 |
74.75 |
|
Total (A)+(B) |
9331000 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
9331000 |
0.00 |
Shareholding
belonging to the category "Promoter and Promoter Group"
|
Sl.No. |
Name of the Shareholder |
Details of Shares held |
Total shares (including underlying shares assuming full
conversion of warrants and convertible securities) as a % of diluted share
capital |
|
|
No. of Shares held |
As a % of grand
total (A)+(B)+(C) |
|
||
|
1 |
Krishnamani Holdings Private Limited |
23,56,000 |
25.25 |
25.25 |
|
|
Total |
23,56,000 |
25.25 |
25.25 |
Shareholding
belonging to the category "Public" and holding more than 1% of the
Total No. of Shares
|
Sl. No. |
Name of the Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
Total shares (including underlying shares assuming full
conversion of warrants and convertible securities) as a % of diluted share
capital |
|
|
1 |
Ami Patel |
449500 |
4.82 |
4.82 |
|
|
2 |
Dinesh Nuwal |
148800 |
1.59 |
1.59 |
|
|
3 |
Dinesh Nuwal HUF |
148800 |
1.59 |
1.59 |
|
|
4 |
Harish Kumar |
164300 |
1.76 |
1.76 |
|
|
5 |
Hemant Panpalia |
232500 |
2.49 |
2.49 |
|
|
6 |
Malvika Krishnakumar Agarwal |
186000 |
1.99 |
1.99 |
|
|
7 |
Nipa Premal Doshi |
260400 |
2.79 |
2.79 |
|
|
8 |
Nishita Sharadkumar Agarwal |
186000 |
1.99 |
1.99 |
|
|
9 |
Parnika Rajkumar Agarwal |
186000 |
1.99 |
1.99 |
|
|
10 |
Peeyush Makhija |
164300 |
1.76 |
1.76 |
|
|
11 |
Praveen Kr Arora |
279000 |
2.99 |
2.99 |
|
|
12 |
Priti Devi |
186000 |
1.99 |
1.99 |
|
|
13 |
Raj KR Arora |
186000 |
1.99 |
1.99 |
|
|
14 |
Rajesh Madanlal Nuwal |
186000 |
1.99 |
1.99 |
|
|
15 |
Rajesh Nuwal HUF |
186620 |
2.00 |
2.00 |
|
|
16 |
Snehlata Rajesh Nuwal |
170500 |
1.83 |
1.83 |
|
|
17 |
Som Arora |
279000 |
2.99 |
2.99 |
|
|
18 |
Usha Nuwal |
161200 |
1.73 |
1.73 |
|
|
19 |
Vidhushree Krishnakumar Agarwal |
186000 |
1.99 |
1.99 |
|
|
20 |
Vipul Kumar Jain |
111600 |
1.20 |
1.20 |
|
|
|
Total |
4058520 |
43.50 |
43.50 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Agro Commodities. |
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|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
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|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
15 (Approximately) |
|
|
|
|
Bankers : |
· IDBI Bank Limited, Ghatkopar, Mumbai, Maharashtra, India · HDFC Bank Limited |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K. M. Tulsian and Associates Chartered Accountants |
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|
|
|
Enterprise Having
same Key Management Personnel : |
SPG Multi Trade Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.93.312 Millions
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9331000 |
Equity Shares |
Rs.10/- each |
Rs.93.310 Millions |
|
|
|
|
|
Increase in
Authorised Share Capital
During the year, the Authorized Share Capital has been increased to Rs. 100,000,000 divided into 1,00,00,000 equity share of Rs. 10/ - each from Rs. 4,000,000 divided into 4,00,000 equity shares of Rs.10/- each vide resolution passed at Annual General Meeting held on 29th September, 2012.
b. Terms and
Conditions
The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity share is entitled to one vote per share.
In the event of liquidation of the Company, the holder of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
c. Shareholders
having more than 5 % shareholding
|
|
As at March 31, 2013 |
|
|
Name of Shareholder |
No of Equity shares
held |
Percentage |
|
Radhakrishna S. Damani |
-- |
-- |
|
Krishnamani Holdings Private Limited |
2,356,000 |
25.25% |
d. Reconciliation of
number of shares
|
|
As at March 31, 2013 |
|
|
Name of Shareholder |
No of Equity shares
held |
Rs. In Millions |
|
Shares outstanding at the beginning of the year |
301,000 |
3.010 |
|
Shares Issued during the year |
9,030,000 |
90.300 |
|
Shares bought back during the year |
- |
- |
|
Shares outstanding at the end of the year |
9,331,000 |
93.310 |
e. Information on equity
shares alloted as bonus shares
|
Particulars |
Year |
|
|
March 31, 2013 |
|
Fully paid up by way of bonus shares |
9030000 |
f. During the period the Company has allotted 9030000 fully paid equity shares of Rs.10/- each as bonus to the existing equity shareholders in the ratio of 30:1, vide the resolution passed in the meeting of board of directors held on 18th October, 2012.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
93.312 |
93.310 |
3.010 |
|
(b) Reserves & Surplus |
10.076 |
10.023 |
100.307 |
|
(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) |
103.388 |
103.333 |
103.317 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
472.924 |
0.115 |
0.003 |
|
(c) Other current liabilities |
0.011 |
0.035 |
0.040 |
|
(d) Short-term provisions |
0.503 |
0.000 |
0.095 |
|
Total
Current Liabilities (4) |
473.438 |
0.150 |
0.138 |
|
|
|
|
|
|
TOTAL |
576.826 |
103.483 |
103.455 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
0.000 |
0.000 |
0.000 |
|
(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 |
91.500 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
11.322 |
11.578 |
11.493 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
102.822 |
11.578 |
11.493 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
473.358 |
1.408 |
0.000 |
|
(d) Cash and cash equivalents |
0.471 |
0.500 |
0.348 |
|
(e) Short-term loans and
advances |
0.175 |
89.997 |
91.614 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
474.004 |
91.905 |
91.962 |
|
|
|
|
|
|
TOTAL |
576.826 |
103.483 |
103.455 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
474.213 |
1.501 |
31.060 |
|
|
Other Income |
0.149 |
0.000 |
0.000 |
|
|
TOTAL
|
474.362 |
1.501 |
31.060 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchase |
472.711 |
0.000 |
0.000 |
|
|
Professional Fees |
0.080 |
0.000 |
0.000 |
|
|
Advertisement |
0.054 |
0.000 |
0.000 |
|
|
Processing Fee |
0.225 |
0.000 |
0.000 |
|
|
Other Expenditure |
0.478 |
1.477 |
0.655 |
|
|
Changes in Inventories |
0.000 |
0.000 |
0.506 |
|
|
TOTAL
|
473.548 |
1.477 |
1.161 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
0.814 |
0.024 |
29.899 |
|
|
|
|
|
|
|
Less |
TAX |
0.325 |
0.008 |
3.173 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
0.489 |
0.016 |
26.726 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
10.023 |
100.307 |
73.581 |
|
|
|
|
|
|
|
Less
|
ISSUE
OF BONUS SHARE |
NA |
90.300 |
0.000 |
|
|
|
|
|
|
|
|
BALANCE
CARRIED TO THE B/S |
NA |
10.023 |
100.307 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.05 |
0.00 |
2.86 |
1. The above financial results have been reviewed and recommended by the Audit Committee and thereafter approved by the Board of Directors in their respective meetings held on July 09, 2014
2. The Board of Directors of the Company on February 01, 2013 approved a Composite Scheme of Amalgamation under section 391 to 394 of Companies Act, 1956 with SPG Multi Trade Private Limited, Archana Hitech Consultants Limited and Vandana Hitech Systems Limited with effect from April 01, 2012, being the Appointed Date. No accounting impact of the same has been given in the above results as the Scheme is pending approvals from various regulatory authorities.
3. The Company has only one reportable business segment of trading in 'Merchandise' as per Accounting Standard 17 issued by Companies (Accounting Standards) Rules, 2006.
4. EPS has been calculated in accordance with AS - 20 notified pursuant to Companies (Accounting Standards) Rules 2006.
5. The Board has recommended dividend @ 0.4% i.e. Rs. 0.04 per Equity share of Rs. 10 each for the financial year ended March 31, 2014 subject to approval of the shareholders. Cash outflow on account of dividend including taxes will be Rs 0.436 Million.
6. Figures of the previous period have been reclassified/ regrouped wherever necessary.
7. The figures of the last quarter ended March 31, 2014 and March 31, 2013 are the balancing figures between audited figures in respect of full financial year and the published year to date figures upto the third quarter of the relevant financial year.
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
0.10 |
1.07 |
86.05 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.17 |
1.60 |
96.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.17 |
0.02 |
28.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.00 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.00 |
612.70 |
666.39 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
3.010 |
93.310 |
93.312 |
|
Reserves & Surplus |
100.307 |
10.023 |
10.076 |
|
Net
worth |
103.317 |
103.333 |
103.388 |
|
|
|
|
|
|
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 |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
31.060 |
1.501 |
474.213 |
|
|
|
(95.167) |
31493.138 |
NET PROFIT MARGIN
|
Net Profit
Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
31.060 |
1.501 |
474.213 |
|
Profit |
26.726 |
0.016 |
0.489 |
|
|
86.05% |
1.07% |
0.10% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG-TERM DEBT DETAILS – NOT AVAILABLE
|
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 |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
No |
|
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 |
No |
Note: No Charges Exist for Company
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.60.10 |
|
|
1 |
Rs.102.04 |
|
Euro |
1 |
Rs.80.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VRN |
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 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
26 |
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.