MIRA INFORM REPORT
|
Report Date : |
04.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
LAVEN FASHIONS PRIVATE LIMITED |
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Registered
Office : |
Plot No: 32, Sai Enclave, 8-2-704/B/1/4, Banjara Hills, Road No: 12, Hyderabad – 500034, Andhra Pradesh |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
30.12.2009 |
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Com. Reg. No.: |
01-066492 |
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Capital
Investment / Paid-up Capital : |
Rs. 10.000 Millions |
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CIN No.: [Company Identification
No.] |
U17290AP2009PTC066492 |
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IEC No.: |
0910017841 |
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TIN No.: |
29600577123 |
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PAN No.: [Permanent Account No.] |
AABCL7392L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Trader of Linen Fabrics and Garments |
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No. of Employees
: |
89 (Approximately) (In office = 22, In Factory = 40 and In Branch =
27) |
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 |
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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 a moderate track record. Management of the company has failed to file its financial for the
year 2013 with the government department. Mr. Ramesh (Accountant) has provided us with general information and
he also provided us with sales turnover of Rs.320.000 Millions for the year 2013
which is not verified. As per available financial 2012, reserves of the company seems to be
low. However, trade relations are fair. Business is active. Payment terms
are reported to be 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.
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 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may grow
4.7 % in the current financial year, lower than the official estimate of 4.9 %,
Fitch Rating said. The global rating agency expects the economy to pick up in
the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever bond
offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation
raised 175 million Swiss Francs by selling five year bonds at 2.98 % coupon
rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Ramesh |
|
Designation : |
Accountant |
|
Date : |
02.06.2014 |
LOCATIONS
|
Registered Office : |
Plot No: 32, Sai Enclave, 8-2-704/B/1/4, Banjara Hills,
Road No: 12, Hyderabad – 500034, Andhra Pradesh, India |
|
Tel. No.: |
91-40-23384353 / 23384222 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Factory : |
No.1, 1st Floor, Near 14th Cross Hongasandra,
Begur Road, Bangalore – 560068, Karnataka, India |
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Tel. No.: |
91-80-40983842 |
|
Area : |
2100 Sq. ft. |
|
Location : |
Leased |
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|
|
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Branch Office 1 : |
Durta Complex, #80/1,1st Floor, Above S.B.I,, Begur Main Road, Hongasandra,, Bangalore - 560068, Karnataka, India |
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Tel. No.: |
91-80-40960385 |
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E-Mail : |
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Area : |
3200 Sq. ft. |
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Location : |
Leased |
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Branch Office 2 : |
F-13, 1st Floor, Trinity Manjira Mall, Hyderabad, Andhra
Pradesh, India |
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Tel. No.: |
91-40-66037209 |
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E-Mail : |
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|
Location : |
Leased |
DIRECTORS
As on 24.09.2012
|
Name : |
Mr. Yashwanth Kumar Kalvagunta |
|
Designation : |
Director |
|
Address : |
# 713, Varuna Block, My Home Navadweepa Apartments, Madhapur,
Hyderabad – 500081, Andhra Pradesh, India
|
|
Date of Birth/Age : |
08.03.1972 |
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Date of Appointment : |
30.12.2009 |
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DIN No.: |
01747237 |
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|
|
|
Name : |
Mr. Binatha Reddivari |
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Designation : |
Director |
|
Address : |
# 713, Varuna Block, My Home Navadweepa Apartments, Madhapur,
Hyderabad – 500081, Andhra Pradesh, India
|
|
Date of Birth/Age : |
06.07.1977 |
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Qualification : |
PHD |
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Experience : |
10 Years |
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Date of Appointment : |
30.12.2009 |
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DIN No.: |
01747272 |
KEY EXECUTIVES
|
Name : |
Mr. Ramesh |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Yashwanth Kumar Kalvagunta |
|
40000 |
|
Binatha Reddivari |
|
510050 |
|
Kavitha Boddireddigari |
|
170000 |
|
Samyuktha Boddireddigari |
|
160000 |
|
Swarajya Kumari |
|
50000 |
|
Prasanth Kumar Surname |
|
40000 |
|
Praveena Reddivari |
|
29950 |
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Total |
|
1000000 |
As on 24.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Linen Fabrics and Garments |
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Brand Names : |
“LAVEN” |
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Terms : |
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Selling : |
L/C / Cash / Credit (30 Days and 90 Days) |
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Purchasing : |
L/C / Credit (90 Days) |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Retailers |
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No. of Employees : |
89 (Approximately) (In office = 22, In Factory = 40 and In Branch =
27) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
--- |
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Auditors : |
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|
Name : |
P.V. Raghavendra Kumar Chartered Accountants |
|
Address : |
42-4-61/3, 2nd Lane,Sree Saimani Raghavendra Nilayam, Ramakrishnapuram,
Vijayawada – 520003, Andhra Pradesh, India |
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Tel. No.: |
91-866-2539074 |
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Mobile No.: |
91-9441466128 |
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PAN No.: |
ALWPP7041H |
CAPITAL STRUCTURE
As on 24.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
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|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
10.000 |
0.500 |
|
(b) Reserves & Surplus |
|
3.252 |
1.067 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
25.235 |
6.578 |
|
Total
Shareholders’ Funds (1) + (2) |
|
38.487 |
8.145 |
|
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1.351 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.032 |
0.031 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
1.383 |
0.031 |
|
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
21.280 |
6.033 |
|
(b) Trade
payables |
|
12.214 |
6.573 |
|
(c) Other
current liabilities |
|
2.972 |
0.907 |
|
(d) Short-term
provisions |
|
0.980 |
0.298 |
|
Total Current
Liabilities (4) |
|
37.446 |
13.811 |
|
|
|
|
|
|
TOTAL |
|
77.316 |
21.987 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
|
7.565 |
2.702 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
1.614 |
0.255 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
9.179 |
2.957 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
33.532 |
5.713 |
|
(c) Trade
receivables |
|
16.021 |
13.236 |
|
(d) Cash
and cash equivalents |
|
18.456 |
0.059 |
|
(e)
Short-term loans and advances |
|
0.000 |
0.000 |
|
(f) Other current
assets |
|
0.128 |
0.022 |
|
Total
Current Assets |
|
68.137 |
19.030 |
|
|
|
|
|
|
TOTAL |
|
77.316 |
21.987 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.500 |
|
|
2] Share Application Money |
|
|
1.550 |
|
|
3] Reserves & Surplus |
|
|
0.419 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
2.469 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.027 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2.496 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2.155 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1.722 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
2.513 |
|
|
Other Current Assets |
|
|
0.200 |
|
|
Loans & Advances |
|
|
0.094 |
|
Total
Current Assets |
|
|
4.529 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
3.746 |
|
|
Other Current Liabilities |
|
|
0.000 |
|
|
Provisions |
|
|
0.442 |
|
Total
Current Liabilities |
|
|
4.188 |
|
|
Net Current Assets |
|
|
0.341 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2.496 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
83.879 |
37.198 |
13.152 |
|
|
|
Other Income |
0.003 |
0.000 |
NA |
|
|
|
TOTAL (A) |
83.882 |
37.198 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
80.277 |
|
|
|
|
|
Purchases of Stock-in-Trade |
|
|
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(12.376) |
(3.111) |
NA |
|
|
|
Employees benefits expense |
7.910 |
2.230 |
|
|
|
|
Other expenses |
3.002 |
1.338 |
|
|
|
|
TOTAL (B) |
78.813 |
35.601 |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5.069 |
1.597 |
NA |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.862 |
0.171 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.207 |
1.426 |
NA |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.041 |
0.476 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
3.166 |
0.950 |
0.606 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.981 |
0.302 |
0.187 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
2.185 |
0.648 |
0.419 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.067 |
0.419 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
3.252 |
1.067 |
0.419 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.19 |
12.96 |
8.38 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
326.513 |
|
|
|
|
|
|
Profit/Loss for the year |
|
|
5.695 |
The above information has been parted by Mr. Ramesh
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.60 |
1.74 |
3.19 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.77 |
2.55 |
4.61 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.09 |
4.32 |
9.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.12 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.59 |
0.74 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.82 |
1.38 |
1.08 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2011 |
31.03.2012 |
|
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
|
0.500 |
10.000 |
|
Reserves & Surplus |
|
1.067 |
3.252 |
|
Share Application money
pending allotment |
|
6.578 |
25.235 |
|
Net
worth |
|
8.145 |
38.487 |
|
|
|
|
|
|
long-term borrowings |
|
0.000 |
1.351 |
|
Short term borrowings |
|
6.033 |
21.280 |
|
Total
borrowings |
|
6.033 |
22.631 |
|
Debt/Equity
ratio |
|
0.741 |
0.588 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
13.152 |
37.198 |
83.879 |
|
|
|
182.832 |
125.493 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
13.152 |
37.198 |
83.879 |
|
Profit |
0.419 |
0.648 |
2.185 |
|
|
3.19% |
1.74% |
2.60% |
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 |
Yes |
|
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 |
No |
|
17] |
Major suppliers |
Yes |
|
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 |
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 |
No |
Note:
The registered office of the company has been shifted from 206, Court, Vensai
Projects Limited, Medchal Highway, Kompally Hyderabad – 500014, Andhra Pradesh,
India to present address w.e.f. 03.03.2010
CORPORATE OVERVIEW
Subject is one of the growing Textile and Branded Apparel Company having its Retail Stores in mos) of the Metropolitan Cities in India.
The Company prepares its financial statements in compliance with the requirements of the Companies Act, 1956 and the Generally Accepted Accounting Principles (GAAP) in India. Overall the financial statements have been prepared on historical cost basis. The estimates and judgments relating to the financial statements are made on a prudent and reasonable basis, so as to reflect in a true and fair manner the form and substance of transactions and reasonably present the Company's state of affairs, profit and cash flows for the year ended March 31, 2012.
FINANCIAL HIGHLIGHTS
FY 2012 witnessed a turbulent business environment with noticeable growth. The year started with optimism but as it progressed, there were challenges with inflation, decelerating growth and worsening investment climate which adversely impacted consumer sentiments. The global economic environment was confronted with geopolitical instability, Eurozone sovereign debt crisis, fluctuating global commodity prices, etc.
In FY 2012, the Company reported a top-line growth of about 225% over the previous year. This growth was driven on multiple platforms including a powerful brand portfolio, strength of network relationships, product *ovation and world class quality. The Company's investments in putting in place a sttucture to deliber on the strategy and improve operational processes are witnessing good traction.
The FY 2012 performance of the Company is particularly noteworthy when viewed in the backdrop of an extremely challenging business environment especially during the second half of the year which is the peak season for textiles and apparel.
The Gross Revenue from operations for the FY 2012 was Rs. 83.879 Millions (Previous Year: Rs. 37.197 Millions). The Operating Profit was Rs.3.166 Millions (Previous Year: Rs.0.950 Million).
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long Term
Borrowings |
|
|
|
Vehicle Loan |
1.351 |
0.000 |
|
Total |
1.351 |
0.000 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10344919 |
03/12/2012 * |
136,000,000.00 |
DENA BANK |
K. G. ROAD BRANCH,, 2ND MAIN, GANDHINAGAR, MAHARASHTRA MANDAL BLDG BANGALORE, KARNATAKA - 560009, INDIA |
B63890552 |
* Date of charge modification
FIXED ASSETS
- Machinery
- Computer
- Computer Software
- Furniture and Fittings
- Vehicle
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.59.21 |
|
|
1 |
Rs.99.17 |
|
Euro |
1 |
Rs.80.56 |
INFORMATION DETAILS
|
Information
Gathered by : |
HEN |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NTH |
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 |
3 |
|
--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 |
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 |
NO |
|
--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.