MIRA INFORM REPORT
|
Report Date : |
16.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
PAVERS ENGLAND LIMITED (w.e.f.10.08.2010) |
|
|
|
|
Formerly Known
As : |
PAVERS ENGLAND FOOTPRINTS LIMITED |
|
|
|
|
Registered
Office : |
No.2/1, Subbarayan Street, Nungambakkam, Chennai – 600034, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
11.02.2008 |
|
|
|
|
Com. Reg. No.: |
18-066386 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 240.535
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U19201TN2008PLC066386 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEP09791F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECP5418Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader of Leather Footwear and Accessories. |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 |
|
Maximum Credit Limit : |
USD 730000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. As per Registrar of Companies, the date of balance sheet (i.e. financial
filed) is shown as 31.03.2013 but the documents related to financial for the
year 2012 and 2013 are not available from any source. As per previous financial record of 2011, the company has incurred
huge accumulated losses. However, trade relations are fair. Business is active. Payment terms
are unknown. 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 |
|
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 DECLINED BY
|
Name : |
Mr. Ritik |
|
Contact No.: |
91-22-67535483 |
|
Date : |
11.06.2014 |
LOCATIONS
|
Registered Office : |
No.2/1, Subbarayan Street, Nungambakkam, Chennai – 600034, Tamilnadu,
India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Stores : |
Located at: · Ahmedabad · Ajmer · Aligarh · Allahabad · Amritsar · Aurangabad · Belgaum · Bangalore · Bhilai · Bhopal · Bhubaneshwar · Chandigarh · Chennai · Coimbatore · Dehradun · Delhi/ NCR · Ganganagar · Hawrah · Hubli · Hyderabad · Indore · Jabalpur · Jaipur · Jammu · Jamnagar · Jamshedpur · Kochi · Kolhapur · Kollam · Kolkata · Kota · Luchnow · Ludhiana · Moradabad · Madurai · Mumbai (Airport) · Mumbai (Central) · Mumbai (South) · Mumbai (Thane/Navi Mumbai) · Mumbai (West) ·
Muzaffarpur · Nagpur · Nasik · Patna · Pune · Raipur · Rajkot · Rohtak · Rourkela · Siliguri · Srinagar · Tirupur · Trivandrum · Udaipur · Vadodara · Vijayawada · Vishakhapatnam |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Utsav Seth |
|
Designation : |
Managing director |
|
Address : |
“Chitra”, Flat No. 501, West Avenue, Santacruz [West], Mumbai
- 400054, Maharashtra, India |
|
Date of Birth/Age : |
24.07.1972 |
|
Qualification : |
B Tech |
|
Date of Appointment : |
11.02.2008 |
|
DIN No.: |
01480780 |
|
|
|
|
Name : |
Balan Nanban |
|
Designation : |
Additional director |
|
Address : |
No.6, Old
No.22C, Harris Apartments, 19th Avenue, Ashok Nagar, Chennai – 600083, Tamilnadu, India |
|
Date of Birth/Age : |
19.05.1967 |
|
Date of Appointment : |
13.12.2011 |
|
DIN No.: |
00299604 |
|
|
|
|
Name : |
Ritesh Tandon |
|
Designation : |
Director |
|
Address : |
Yogniti, Flat No.604, 6th Floor,
SV Road, Santacruz (West), Mumbai - 400054, Maharashtra, India |
|
Date of Birth/Age : |
01.04.1973 |
|
Qualification : |
M. Com |
|
Date of Appointment : |
11.02.2008 |
|
PAN No.: |
ACBPT7386D |
|
DIN No.: |
00299710 |
|
|
|
|
Name : |
Paramasivam Ganesan |
|
Designation : |
Director |
|
Address : |
B-Door No. 16, 5th Street,
Balaji Nagar, Nanganallur, Chennai - 600061, Tamilnadu, India |
|
Date of Birth/Age : |
28.07.1969 |
|
Qualification : |
M. Com |
|
Date of Appointment : |
25.05.2009 |
|
PAN No.: |
AFJPG6308K |
|
DIN No.: |
01747559 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Pavers Foresight Smartventures Limited, Mauritius |
|
72897964 |
|
Stuart David Paver |
|
1 |
|
GTFC Limited, India |
|
1 |
|
Utsav Seth |
|
1 |
|
UMS Holdings S.A., Panama City |
|
1 |
|
B. Nanban [Nominee of Pavers Foresight Smartventures Limited,
Mauritius] |
|
1 |
|
P. Ganesan [Nominee of Pavers Foresight Smartventures
Limited, Mauritius] |
|
1 |
|
|
|
|
|
Total |
|
72897970 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
99.99 |
|
Directors
or relatives of directors |
0.01 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Leather Footwear and Accessories. |
|
|
|
|
Brand Names : |
“PAVERS England” |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
|
|
|
|
Customers : |
Not Divulged |
|
|
|
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K S Jagannathan and Company Chartered Accountants |
|
Address : |
New No.10, 2nd Floor, Bharathi Nagar, 2nd Street, North
Usman Road, T. Nagar, Chennai – 600017, Tamilnadu, India |
|
Tel. No.: |
91-44-28341112/ 28341113/ 28341114 |
|
Fax No.: |
91-44-28341112/ 28341113/ 28341114 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAEFK0647F |
|
|
|
|
Holding Company : |
Pavers Foresight Smart Ventures Limited, Mauritius |
|
|
|
|
Associates : |
· Shoe Club Asia Pte Limited ·
Moda Living Spaces Private Limited
[U45400TN2007PTC063510] |
CAPITAL STRUCTURE
AFTER 30.09.2013
Authorised Capital : Rs. 1000.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 877.331
Millions
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1000.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
72,897,970 |
Equity Shares |
Rs. 10/- each |
Rs. 728.980
Millions |
|
|
|
|
|
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24,053,474 |
Equity Shares |
Rs. 10/- each |
Rs. 240.535
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
240.535 |
132.237 |
56.500 |
|
|
2] Share Application Money |
18.102 |
20.515 |
0.229 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(75.658) |
(48.999) |
(17.113) |
|
|
NETWORTH |
182.979 |
103.753 |
39.616 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
28.500 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
28.500 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.727 |
0.590 |
0.098 |
|
|
|
|
|
|
|
|
TOTAL |
212.206 |
104.343 |
39.714 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
11.392 |
5.638 |
3.168 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
27.388
|
16.213 |
6.186 |
|
|
Sundry Debtors |
145.747
|
58.354 |
22.686 |
|
|
Cash & Bank Balances |
6.574
|
6.631 |
11.168 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
40.344
|
30.045 |
2.887 |
|
Total
Current Assets |
220.053
|
111.243 |
42.927 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
14.773
|
13.502 |
4.211 |
|
|
Other Current Liabilities |
4.421
|
0.774 |
3.839 |
|
|
Provisions |
0.232
|
0.033 |
0.196 |
|
Total
Current Liabilities |
19.426
|
14.309 |
8.246 |
|
|
Net Current Assets |
200.627
|
96.934 |
34.681 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.187 |
1.771 |
1.865 |
|
|
|
|
|
|
|
|
TOTAL |
212.206 |
104.343 |
39.714 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating Revenue, net |
136.291 |
69.445 |
24.570 |
|
|
|
Other Income |
0.173 |
0.949 |
0.216 |
|
|
|
TOTAL |
136.464 |
70.394 |
24.786 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
101.582 |
|
|
|
|
|
Manufacturing service costs |
5.859 |
3.025 |
|
|
|
|
Employee related expenses |
19.883 |
12.991 |
|
|
|
|
Administrative selling other expenses |
33.192 |
30.325 |
|
|
|
|
TOTAL |
160.516 |
100.546 |
40.924 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(24.052) |
(30.152) |
(16.138) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
2.469 |
1.242 |
0.680 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(26.521) |
(31.394) |
(16.818) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.138 |
0.492 |
0.295 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(26.659) |
(31.886) |
(17.113) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
(48.999) |
(17.113) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(75.658) |
(48.999) |
(17.113) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.000 |
3.064 |
0.000 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Finished Goods |
13.620 |
9.913 |
0.000 |
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(1.11) |
(2.41) |
(3.03) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(19.54)
|
(45.30)
|
(69.04)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(19.46)
|
(45.21)
|
(68.45)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(11.46)
|
(26.86)
|
(36.49)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.14)
|
(0.30)
|
(0.42)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.16
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
11.33
|
7.77 |
5.21 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
56.500 |
132.237 |
240.535 |
|
Share Application Money |
0.229 |
20.515 |
18.102 |
|
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
(Accumulated Losses) |
(17.113) |
(48.999) |
(75.658) |
|
Net
worth |
39.616 |
103.753 |
182.979 |
|
|
|
|
|
|
Secured Loans |
0.000 |
0.000 |
0.000 |
|
Unsecured Loans |
0.000 |
0.000 |
28.500 |
|
Total
borrowings |
0.000 |
0.000 |
28.500 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.156 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
24.570 |
69.445 |
136.291 |
|
|
|
182.641 |
96.257 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
24.570 |
69.445 |
136.291 |
|
Profit/ (Loss) |
(17.113) |
(31.886) |
(26.659) |
|
|
(69.65%) |
(45.92%) |
(19.56%) |
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 |
No |
|
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 |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
No |
|
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES: NO
CHARGES EXIST FOR COMPANY
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2011 (Rs.
In Millions) |
31.03.2010 (Rs.
In Millions) |
|
Working capital loans others |
28.500 |
0.000 |
|
|
|
|
|
Total |
28.500 |
0.000 |
REVIEW OF OPERATIONS
During the year, the company has achieved a turnover of Rs. 136.291
Millions (an increased by 96.26%) as compared to previous year Rs. 69.445
Millions. However the company continued to incur loss for the year as well. The
loss is essentially on accounting of extensive marketing expenses, branch
establishment and related expenses and product launch expenses. The company
continued to open new branches/ware houses and expand in newer territories. New
Product launches with new and existing retailers continued during the year as
well. Thus the company has incurred huge fixed cost as well as continued to
incur marketing and promotional expenses in order to improve sales. These
expenses are beginning to bear fruits as can be seen from the smart increase in
top line. Such unabsorbed costs have resulted in a loss for the year. The
directors are fully confident that during the times to come, the company’s
product will be well received by the customers through retailers which will
further improve its sales and thereby margins. The company is very keen to
enter into relationship with retailers to sell its products, lot of such
agreements are in the pipeline and the company’s products will be available in
a number of retail outlets through those retailers.
FIXED ASSETS:
Tangible Assets
· Land
· Building
· Plant and machinery
· Office equipments
· Factory equipments
· Computer equipments
· Other equipments
· Furniture and fixtures
· Vehicles
· Aircrafts helicopters
· Motor vehicles
· Leasehold improvements
· Livestock
· Bridges roads ports culverts
· Railway sidings
· Plantations
· Books periodicals
· Mines quarries
Intangible Assets
· Knowhow
· Computer software
· Patents trademarks design
· Commercial contractual rights
· Licenses
· Development cost
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 : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
3 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--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.