MIRA INFORM REPORT
|
Report Date : |
10.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
VRV ASIA PACIFIC PRIVATE LIMITED (w.e.f. 26.05.2011) |
|
|
|
|
Formerly Known
As : |
VRV INDIA CRYOGENIC EQUIPMENT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
301, Akshaya Apartments, 8-3-841, Yellareddyguda, Hyderabad – 500073,
Telangana |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
02.08.2007 |
|
|
|
|
Com. Reg. No.: |
01-054966 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 326.188 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29200TG2007PTC054966 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDV06875B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCV7045F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Cryogenic Equipment for Storage of Liquefied Gases. |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (16) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. Net worth of the company has been eroded due to continuous accumulated
loss incurred from its operations. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow. The company can be considered for business dealings on safe and
secured trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
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. Rajnikant Pandey |
|
Designation : |
Vice President Finance |
|
Contact No.: |
91-9160710003 |
|
Date : |
09.06.2014 |
LOCATIONS
|
Registered Office : |
301, Akshaya Apartments, 8-3-841, Yellareddyguda, Hyderabad – 500073,
Telangana, India |
|
Tel. No. : |
91-8623-304650 |
|
Mobile No.: |
91-9160710003 (Mr. Rajnikant Pandey) |
|
Fax No. : |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Factory : |
Sri City DTA, (near Tada) Siddam Agraharam Village,
Varadaiahpalem Taluk, Chittoor – 517541, Andhra Pradesh, India |
|
Tel. No. : |
91-8623-304700 / 304852 |
|
Fax No. : |
91-8623-304701 |
|
E-Mail : |
DIRECTORS
As on 29.06.2013
|
Name : |
Federico Spada |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
Via Mangnolle 9, Pinnetina, Appiano, Gentile, Como, 22070, Italy |
||||||||||||||||
|
Date of Birth/Age : |
25.06.1964 |
||||||||||||||||
|
Date of Appointment : |
02.08.2007 |
||||||||||||||||
|
DIN No. : |
01549957 |
||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Fabio Luigi Villa |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
Via Burago 14 a, Virnercate, Italy 20059 |
||||||||||||||||
|
Date of Birth/Age : |
15.05.1970 |
||||||||||||||||
|
Date of Appointment : |
02.08.2007 |
||||||||||||||||
|
DIN No. : |
01549867 |
||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Alessandro Spada |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
Largo Esterie 1, Monza, Milan, 20052, Italy |
||||||||||||||||
|
Date of Birth/Age : |
31.08.1965 |
||||||||||||||||
|
Date of Appointment : |
02.08.2007 |
||||||||||||||||
|
DIN No. : |
01549922 |
||||||||||||||||
|
|
|
||||||||||||||||
|
Name : |
Hussin Bin Mohd |
||||||||||||||||
|
Designation : |
Director |
||||||||||||||||
|
Address : |
2nd Floor, Door AH 234, KBR Villa Apartments, 8th Main Road, Second Street, Anna Nagar Chennai – 600040, Tamilnadu, India |
||||||||||||||||
|
Date of Birth/Age : |
24.09.1958 |
||||||||||||||||
|
Qualification : |
BSc. Chemical Engineering University of Oklahoma, USA |
||||||||||||||||
|
Experience : |
25 Years |
||||||||||||||||
|
Date of Appointment : |
30.06.2011 |
||||||||||||||||
|
DIN No. : |
03325078 |
||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Rajnikant Pandey |
|
Designation : |
Vice President Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.06.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
VRV SPA, Italy |
39598786 |
99.68 |
|
VRV Services SRL, Italy |
127800 |
0.32 |
|
Total |
39726586 |
100.00 |
Allottee as on 30.12.2013
|
Names of Allottee |
No. of Shares |
|
VRV SPA, Italy |
3098000 |
|
Total |
3098000 |
As on 29.06.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cryogenic Equipment for Storage of Liquefied Gases. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
· Saudi Arabia · Indonesia · Pakistan · Bangladesh · Srilanka · Vietnam · Russia |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
Germany |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit |
|
|
|
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
300 (Approximately) |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
· HDFC Bank Limited, Housesenapati Bapat Marg, Lower Parel (West), Mumbai - 400013, Maharashtra, India ·
BNP Paribas, Chennai, Tamilnadu, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
NOTE SHORT TERM
BORROWINGS 1) Working capital bank loan is secured by way of guarantee from the parent company; 2) Packing credit bank loan is secured by way of guarantee from the parent company; 3) Cash credit from bank is secured against Inventories and books debts. |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Hari and Parameshwaran Chartered Accountants |
|
Address : |
New No.9, Old No.5A/3, Vrindavan Apartments, Rani Annadurai Street, Mandaveli, Chennai – 600028, Tamilnadu, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AALPP6407H |
|
|
|
|
Holding Company : |
VRV S.p.A, Italy |
|
|
|
|
Fellow Subsidiary Company
: |
· Cryo Diffusion S.A.S · FEMA SRL |
CAPITAL STRUCTURE
After 29.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
55,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 550.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
42,824,586 |
Equity Shares |
Rs.10/- each |
Rs. 428.246 Millions |
|
|
|
|
|
As on 31.12.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 350.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
|
|
|
32618800 |
Equity Shares |
Rs.10/- each |
Rs. 326.188 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
326.188 |
326.188 |
|
(b) Reserves & Surplus |
|
(332.658) |
(340.2000 |
|
(c) Money
received against Share Warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
(6.470) |
(14.012) |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term Borrowings |
|
1024.091 |
953.480 |
|
(b) Deferred Tax Liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other Long Term
Liabilities |
|
0.000 |
0.000 |
|
(d) long-term Provisions |
|
2.049 |
1.536 |
|
Total Non-current
Liabilities (3) |
|
1026.140 |
955.016 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
Term Borrowings |
|
459.017 |
421.344 |
|
(b) Trade
Payables |
|
270.106 |
235.519 |
|
(c) Other Current
Liabilities |
|
159.712 |
129.105 |
|
(d) Short-term
Provisions |
|
0.088 |
0.000 |
|
Total Current
Liabilities (4) |
|
888.923 |
785.968 |
|
|
|
|
|
|
TOTAL |
|
1908.593 |
1726.972 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible Assets |
|
982.009 |
965.711 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital Work-in-Progress |
|
49.392 |
28.206 |
|
(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 |
|
19.763 |
2.964 |
|
(e) Other
Non-current Assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
1051.164 |
996.881 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current Investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
546.351 |
421.694 |
|
(c) Trade
Receivables |
|
193.726 |
217.097 |
|
(d) Cash
and Cash Equivalents |
|
29.754 |
7.410 |
|
(e)
Short-term Loans and Advances |
|
87.598 |
83.890 |
|
(f) Other
Current Assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
857.429 |
730.091 |
|
|
|
|
|
|
TOTAL |
|
1908.593 |
1726.972 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
234.568 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(166.125) |
|
|
NETWORTH |
|
|
68.443 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
172.154 |
|
|
2] Unsecured Loans |
|
|
691.866 |
|
|
TOTAL BORROWING |
|
|
864.020 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
932.463 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
580.138 |
|
|
Capital work-in-progress |
|
|
174.286 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
237.258 |
|
|
Sundry Debtors |
|
|
42.074 |
|
|
Cash & Bank Balances |
|
|
15.820 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
58.491 |
|
Total
Current Assets |
|
|
353.643 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
127.348 |
|
|
Other Current Liabilities |
|
|
47.183 |
|
|
Provisions |
|
|
1.073 |
|
Total
Current Liabilities |
|
|
175.604 |
|
|
Net Current Assets |
|
|
178.039 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
932.463 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income from Operations |
733.307 |
497.929 |
139.764 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
725.873 |
672.021 |
290.746 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
7.542 |
(174.075) |
(147.928) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
7.542 |
(174.075) |
(147.928) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.23 |
(6.35) |
(6.31) |
|
|
Particulars |
|
|
31.12.2013 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
760.000 |
|
|
|
|
|
The above information has been parted by Mr. Rajnikant Pandey (Vice President Finance).
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.03 |
(34.96) |
(105.84) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.41 |
(10.25) |
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.17) |
12.42 |
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(229.23) |
(98.12) |
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.96 |
0.93 |
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
326.188 |
326.188 |
|
Reserves & Surplus |
(340.200) |
(332.658) |
|
Net
worth |
(14.012) |
(6.470) |
|
|
|
|
|
long-term borrowings |
953.480 |
1024.091 |
|
Short term borrowings |
421.344 |
459.017 |
|
Total
borrowings |
1374.824 |
1483.108 |
|
Debt/Equity
ratio |
(98.118) |
(229.228) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
139.764 |
497.929 |
733.307 |
|
|
|
256.264 |
47.271 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
139.764 |
497.929 |
733.307 |
|
Profit |
(147.928) |
(174.075) |
7.542 |
|
|
(105.84%) |
(34.96%) |
1.03% |
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
four 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) |
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 |
No |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10209865 |
09/03/2010 |
100,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
|
UNSECURED LOANS
|
PARTICULAR |
31.12.2012 (Rs.
In Millions) |
31.12.2011 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Borrowing from foreign companies |
1024.091 |
953.480 |
|
Total |
1024.091 |
953.480 |
COMPANY INFORMATION
Subject was incorporated on 2nd August 2007, specializes in the design and manufacture of vacuum insulated equipment used in the distribution and storage of cryogenic liquefied gases. The products manufactured at the factory currently include, Standard Cryogenic Tanks (Eagle), Engineered Cryogenic Storage Tanks, Mobile Equipment – Semi-Trailers and Rigid Tankers, Cryocyl – Cryogenic Liquid containers of 990 Litres capacity
OPERATIONS
The Company is incorporated with the objectives of manufacture and sale of cryogenic equipment and pressure vessels for storage, transport and distribution of liquefied technical gases, as well as for engineer, engineering projects and fabrication, including supply of maintenance and repairing services for the said products.
The operations of the company are satisfactory and there have been efforts for continuous improvement. During the year, the Company has generated revenue of Rs. 733.307 Millions and earned profits of Rs. 7.542 Millions as a result of persistent endeavours of the management.
FIXED ASSETS
Tangible Assets
· Land
·
Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
·
Office Equipment
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.59.06 |
|
|
1 |
Rs.99.35 |
|
Euro |
1 |
Rs.80.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
16 |
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.