MIRA INFORM REPORT
|
Report Date : |
16.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
JAWAHAR SAW MILLS PRIVATE LIMITED |
|
|
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Registered
Office : |
47, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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|
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Date of
Incorporation : |
07.04.2008 |
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|
|
|
Com. Reg. No.: |
11-180898 |
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|
|
Capital
Investment / Paid-up Capital : |
Rs.12.500
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U20212MH2008PTC180898 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMJ13459F |
|
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter, Importer and Trader of Timber Products. |
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|
No. of Employees
: |
115 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 312000 |
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|
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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. Sales turnover of the company has declined resulting into dip in
profit of the company during financial year 2013. Further company has taken
huge external borrowing which act as threatening to the liquidity position of
the company. However, trade relations are fair. Business is active. Payment terms
are 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.
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating: BB- (Suspended) |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
30.09.2013 |
Reason for Suspension: Absence of adequate information required by
CRISIL.
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. Pradeep |
|
Designation : |
Import Department |
|
Contact No.: |
91-22-23728820 |
|
Date : |
14.06.2014 |
LOCATIONS
|
Registered Office/ Corporate Office : |
47, Victoria Road, Mustafa Bazar, Mumbai – 400 010, Maharashtra, India
|
|
Tel. No.: |
91-22-23728820/ 23732222/ 23790777/ 23790999/ 23752222 |
|
Mobile No.: |
91-9820284447 (Mr. Gaurav Manoharlal Agicha) |
|
Fax No.: |
91-22-23732222/ 23732179 |
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E-Mail : |
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|
Website : |
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|
Area : |
5000 sq. ft. |
|
Location : |
Owned |
|
Locality : |
Commercial |
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|
Factory : |
Survey 51, Savroli Khadpada Road, Dhamini Village, Khalapur, Raigad –
410 202, Maharashtra, India |
|
Email: |
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Branch Office : |
Located at: · Chennai · Hyderabad |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Manoharlal Satramdas Agicha |
|
Designation : |
Director |
|
Address : |
The Agicha's, 6, Master
Vinayak Road, Bandra (West), Mumbai – 400 050, Maharashtra, India |
|
Date of Birth/Age : |
21.04.1945 |
|
Date of Appointment : |
07.04.2008 |
|
DIN No.: |
00364700 |
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|
|
|
Name : |
Mr. Srichand Satramdas Agicha |
|
Designation : |
Director |
|
Address : |
The Agicha's, 6, Master
Vinayak Road, Bandra (West), Mumbai – 400 050, Maharashtra, India |
|
Date of Birth/Age : |
22.02.1951 |
|
Date of Appointment : |
07.04.2008 |
|
DIN No.: |
00364370 |
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|
|
|
Name : |
Mr. Gaurav Manoharlal Agicha |
|
Designation : |
Director |
|
Address : |
The Agicha's, 6, Master Vinayak
Road, Bandra (West), Mumbai – 400 050, Maharashtra, India |
|
Date of Birth/Age : |
01.12.1980 |
|
Date of Appointment : |
07.04.2008 |
|
DIN No.: |
00299339 |
|
|
|
|
Name : |
Mr. Rajesh Manoharlal Agicha |
|
Designation : |
Director |
|
Address : |
The Agicha's, 6, Master
Vinayak Road, Bandra (West), Mumbai – 400 050, Maharashtra, India |
|
Date of Birth/Age : |
11.10.1970 |
|
Date of Appointment : |
07.04.2008 |
|
DIN No.: |
00478125 |
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|
|
|
Name : |
Mr. Siddharrth Srichand Agicha |
|
Designation : |
Director |
|
Address : |
The Agicha's, 6, Master
Vinayak Road, Bandra (West), Mumbai – 400 050, Maharashtra, India |
|
Date of Birth/Age : |
11.04.1982 |
|
Date of Appointment : |
07.04.2008 |
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DIN No.: |
00481804 |
|
|
|
|
Name : |
Mr. Ashok Sunderdas Agicha |
|
Designation : |
Director |
|
Address : |
The Agicha's, 6, Master
Vinayak Road, Bandra (West), Mumbai – 400 050, Maharashtra, India |
|
Date of Birth/Age : |
15.11.1954 |
|
Date of Appointment : |
30.09.2009 |
|
DIN No.: |
01238363 |
|
|
|
|
Name : |
Mr. Satish Sunderdas Agicha |
|
Designation : |
Director |
|
Address : |
The Agicha's, 6, Master
Vinayak Road, Bandra (West), Mumbai – 400 050, Maharashtra, India |
|
Date of Birth/Age : |
07.08.1957 |
|
Date of Appointment : |
08.04.2008 |
|
DIN No.: |
02137189 |
KEY EXECUTIVES
|
Name : |
Mr. Pradeep |
|
Designation : |
Import Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Amritibai Sunderdas Agicha jointly with Ashok Sunderdas Agicha |
286875 |
|
Abhishek Satish Agicha jointly with Satish Sunderdas Agicha |
6250 |
|
Aditya Satish Agicha jointly with Satish Sunderdas Agicha |
6250 |
|
Ashok Sunderdas Agicha jointly with Satish Sunderdas Agicha |
25625 |
|
Chandni Srichand Agicha jointly with Srichand Satramdas Agicha |
15000 |
|
Gaurav Manoharlal Agicha jointly with Krishika Gaurav Agicha |
106250 |
|
Gautam Prakash Agicha jointly with Ashok Sunderdas Agicha |
25000 |
|
Hriday R. Agicha jointly with Rajesh Manoharlal Agicha and Sakshi Rajesh Agicha |
6250 |
|
Krishika Gaurav Agicha jointly with Gaurav Manoharlal Agicha |
12500 |
|
Manoharlal Agicha – HUF |
10000 |
|
Manoharlal Satramdas Agicha jointly with Nanda Manoharlal Agicha |
127500 |
|
Nanda Manoharlal Agicha jointly with Manoharlal Satramdas Agicha |
12500 |
|
Rajesh Agicha – HUF |
6250 |
|
Rajesh Manoharlal Agicha jointly with Sakshi Rajesh Agicha |
106250 |
|
Sakshi Rajesh Agicha jointly with Rajesh Manoharlal Agicha |
12500 |
|
Satish A. Agicha – HUF |
5625 |
|
Satish Sunderdas Agicha jointly with Sweta Satish Agicha |
138125 |
|
Siddharrth Srichand Agicha jointly with Srichand Satramdas Agicha |
106250 |
|
Srichand Agicha – HUF |
37500 |
|
Srichand Satramdas Agicha jointly with Chandni Srichand Agicha |
191250 |
|
Sweta Satish Agicha jointly with Satish Srichand Agicha |
6250 |
|
Total
|
1250000 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter, Importer and Trader of Timber Products. |
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|
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|
Products : |
o
Door Frames: Panel doors, skin doors, flush doors, etc. o
Flooring o
Door Frames, etc.
|
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Exports : |
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Products : |
Finished Goods |
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Countries : |
Not Divulged |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users
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No. of Employees : |
115 (Approximately ) |
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Bankers : |
Corporation Bank, 221/223, Samuel Street, Mandvi, Mumbai
– 400 003, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Makhija and Associates Chartered Accountants |
|
Address : |
204, Rewa Chambers, 31, New Marine Lines (Behind Ayakar Bhawan),
Mumbai – 400 020, Maharashtra, India |
|
Tel. No.: |
91-22-22012313/ 22017431/ 22013600 |
|
Fax No.: |
91-22-22073042 |
|
PAN No.: |
AAEPM5315Q |
|
|
|
|
Related Parties (As confirmed by the Management) : |
·
Jawahar Woodtech Private Limited ·
Associate Lumbers Private Limited ·
Associate Real Estate Private Limited ·
Associate Holdings Private Limited ·
Associate Exports |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1250000 |
Equity Shares |
Rs.10/- each |
Rs.12.500
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
12.500 |
12.500 |
12.500 |
|
(b) Reserves & Surplus |
65.520 |
55.980 |
44.532 |
|
(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) |
78.020 |
68.480 |
57.032 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
561.736 |
184.274 |
82.848 |
|
(b) Deferred tax liabilities (Net) |
1.189 |
1.417 |
1.020 |
|
(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) |
562.925 |
185.691 |
83.868 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
74.962 |
470.018 |
399.436 |
|
(b)
Trade payables |
130.297 |
181.536 |
121.992 |
|
(c)
Other current liabilities |
7.376 |
24.667 |
18.472 |
|
(d)
Short-term provisions |
4.800 |
5.100 |
5.600 |
|
Total
Current Liabilities (4) |
217.435 |
681.321 |
545.500 |
|
|
|
|
|
|
TOTAL |
858.380 |
935.492 |
686.400 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
117.842 |
129.461 |
124.030 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and
Advances |
0.000 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
1.597 |
1.562 |
1.545 |
|
Total
Non-Current Assets |
119.439 |
131.023 |
125.575 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
7.527 |
9.770 |
14.610 |
|
(b)
Inventories |
286.727 |
310.087 |
179.009 |
|
(c)
Trade receivables |
242.869 |
361.305 |
234.321 |
|
(d)
Cash and cash equivalents |
6.026 |
2.156 |
35.757 |
|
(e)
Short-term loans and advances |
185.937 |
108.205 |
94.612 |
|
(f)
Other current assets |
9.855 |
12.946 |
2.516 |
|
Total
Current Assets |
738.941 |
804.469 |
560.825 |
|
|
|
|
|
|
TOTAL |
858.380 |
935.492 |
686.400 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
794.867 |
832.407 |
683.567 |
|
|
|
Other Income |
1.349 |
0.324 |
0.992 |
|
|
|
TOTAL |
796.216 |
832.731 |
684.559 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchase and other related cost |
782.082 |
803.824 |
592.136 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock
in trade |
|
(131.078) |
(31.715) |
|
|
|
Employee Benefit Expenses |
|
27.160 |
17.899 |
|
|
|
Other Expenses |
|
39.694 |
31.005 |
|
|
|
TOTAL |
782.082 (including
financial and depreciation) |
739.600 |
609.325 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
93.131 |
75.234 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
|
63.063 |
46.214 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
30.068 |
29.020 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
|
13.376 |
11.747 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
14.181 |
16.692 |
17.273 |
|
|
|
|
|
|
|
|
|
|
TAX |
4.668 |
5.497 |
5.933 |
|
|
|
PRIOR PERIOD
ADJUSTMENT |
0.027 |
0.253 |
0.486 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
9.540 |
11.448 |
11.826 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
731425.26
Euros 564977.84
US Dollar |
308342.04
Euros 45992.20
US Dollar |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
7.61 |
9.16 |
9.46 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.20 |
1.37 |
1.73 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.78 |
2.01 |
2.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.65 |
1.78 |
2.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.24 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
8.16 |
9.55 |
8.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.40 |
1.18 |
1.03 |
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 |
12.500 |
12.500 |
12.500 |
|
Reserves & Surplus |
44.532 |
55.980 |
65.520 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
57.032 |
68.480 |
78.020 |
|
|
|
|
|
|
Long-term borrowings |
82.848 |
184.274 |
561.736 |
|
Short term borrowings |
399.436 |
470.018 |
74.962 |
|
Total borrowings |
482.284 |
654.292 |
636.698 |
|
Debt/Equity ratio |
8.456 |
9.554 |
8.161 |
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) |
|
Revenue from operations |
683.567 |
832.407 |
794.867 |
|
|
|
21.774 |
(4.510) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue
from operations |
683.567 |
832.407 |
794.867 |
|
Profit |
11.826 |
11.448 |
9.540 |
|
|
1.73% |
1.38% |
1.20% |
LOCAL AGENCY FURTHER INFORMATION
Details of Current Maturities of Long Term
Debt: 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 |
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 |
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] |
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 |
Yes |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10426805 |
25/03/2013 |
613,200,000.00 |
CORPORATION BANK |
221/223, SAMUEL STREET, MANDVI, MUMBAI,
MAHARASHTRA - 400003, INDIA |
B75515056 |
|
2 |
10156320 |
28/11/2011 * |
632,500,000.00 |
CORPORATION BANK |
221/223, SAMUEL STREET, MASJID BUNDER,
MANDVI, MUMBAI, MAHARASHTRA - 400003, INDIA |
B28359024 |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans from
shareholders and others |
143.879 |
184.274 |
|
Total |
143.879 |
184.274 |
YEAR
IN RETROSPECT:
During the year the company has achieved total revenue of
Rs.794.867 millions from
operations as against Rs.832.407 millions attained
last year, the fall in revenue is
due to overall slack in the industry and economy. The Directors are putting in
their best efforts to improve the performance of the Company.
FIXED ASSETS:
· Land
· Office Gala
· Shed
· Factory Building
· Plant and Machinery
· Office Equipment
· Furniture and Fixture
· Motor Care
· Vehicles
· Motor Cycle
· Computers and Software
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.59.48 |
|
|
1 |
Rs.100.93 |
|
Euro |
1 |
Rs.80.71 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
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 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.