MIRA INFORM REPORT
|
Report Date : |
19.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
RUBBERKING TYRES INDIA PRIVATE LIMITED [w.e.f.24.01.2010] |
|
|
|
|
Formerly Known
As : |
RUBBERKING TYERS INDIA PRIVATE LIMITED ASHA RUBBERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
103/104, Nendhara Apartment, Near GNFC Infotowes, S G Road, Bokadev,
Ahmedabad – 380054, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation
: |
08.02.1988 |
|
|
|
|
Com. Reg. No.: |
04-010340 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.19.200
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25110GJ1988PTC010340 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Butyl Rubber Inner Tubes and
Curing Air Bags and Curing Bladders. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 900000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The management has seen a better increase in its sales volume as well as
net profitability during 2013. The ratings also take into consideration a decent financial profile
marked by a conservative capital structure during the year under review. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. The company can be considered for business dealings at usual 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.
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a quarter
of a century. The data was below an official estimate of 4.9 % annual growth
and compared with 4.5 % in the last fiscal year. However, the current account
deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product,
in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A
sharp fall in gold imports due to restrictions on overseas purchases and muted
import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating=BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
31.10.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating=A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
31.10.2013 |
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.
LOCATIONS
|
Registered/ Head Office : |
103/104, Nendhara Apartment, Near GNFC Infotowes, S G Road, Bokadev,
Ahmedabad – 380 054, Gujarat, India |
|
Tel. No.: |
91-79-26855619/ 26850567 |
|
Fax No.: |
91-79-26853390/ 26751985 |
|
E-Mail : |
|
|
Website : |
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|
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|
Unit 1 : |
411/2, GIDC, Phase - ll, Vatva, Ahmedabad – 382 445, Gujarat,
India |
|
|
|
|
Unit 2 : |
Plot No. 9, GIDC,
Viramgam -382150, Gujarat, India |
|
|
|
USA Liaison Office :
|
Waterford Business Park, 5201 Blue Lagoon Drive, Suite
839, Miami, FL 33126 USA |
|
Tel. No.: |
1-305-753-7068 |
|
E-Mail : |
DIRECTORS
AS ON 30.08.2013
|
Name : |
Mr. Dineshchandra Ishwarlal Gawarvala |
|
Designation : |
Director |
|
Address : |
52-C, Goyal Park, Opposite Satellite Tower, Satellite Road, Near Premchandnagar, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
12.05.1942 |
|
Date of Appointment : |
08.02.1988 |
|
DIN No.: |
00984329 |
|
|
|
|
Name : |
Mr. Samirkumar Dineshchanra Gawarvala |
|
Designation : |
Director |
|
Address : |
52-C, Goyal Park, Opposite Satellite Tower, Satellite Road, Near Premchandnagar, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
28.04.1967 |
|
Qualification : |
B. Sc |
|
Experience : |
24 Years |
|
Date of Appointment : |
08.02.1988 |
|
DIN No.: |
00985984 |
|
|
|
|
Name : |
Mr. Niren Dineshchandra Gawarvala |
|
Designation : |
Director |
|
Address : |
52-C, Goyal Park, Opposite Satellite Tower, Satellite Road, Near Premchandnagar, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
01.02.1970 |
|
Qualification : |
A.M.I.E., M.S. [London] |
|
Experience : |
20 Years |
|
Date of Appointment : |
01.04.1992 |
|
DIN No.: |
00985931 |
MAJOR SHAREHOLDERS
AS ON 30.08.2013
|
Names of Shareholders |
|
No. of Shares |
|
Dineshchandra Ishwarlal Gawarwala |
|
280200 |
|
Niren Dineshchandra Gawarwala |
|
375400 |
|
Samir Dineshchandra Gawarwala |
|
375400 |
|
Bhagawati Rubber Product Industries, India |
|
238800 |
|
Asha Dineshchandra Gawarwala |
|
257000 |
|
Anar Samir Gawarwala |
|
93400 |
|
Anal Niren Gawarwala |
|
93800 |
|
Samir D. Gawarwala as a Guardian of Minor Devin S. Gawarwala |
|
103200 |
|
Niren D. Gawarwala as a Guardian of Minor Priyanshi N. Gawarwala |
|
102800 |
|
|
|
|
|
Total |
|
1920000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.08.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Exporter of Butyl Rubber Inner Tubes and Curing Air
Bags and Curing Bladders. |
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Products / Services : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
Asia ·
USA ·
Europe ·
Middle East ·
Fareast |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
Russia ·
USA ·
China ·
Korea ·
Taiwan ·
Vietnam |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
PARTICULARS OF LICENSED
CAPACITY:
|
Particulars |
31.03.2011 |
|
Inner
Tubes and Rubber Flaps for Tyres of Automobiles Vehicles |
No
Industrial License is required under Industrial (Development and Regulations)
Act, 1951. |
PARTICULARS OF INSTALLED
CAPACITY:
|
Particulars |
31.03.2011 |
|
(As
certified by a Director, not verified by Auditor, being a technical matter) |
|
|
Inner
Tubes of Rubber for Tyres of Automobile vehicles (such as motor cars, buses, lorries,
tractors, 2-3 wheelers etc.) |
Nos.1800000 (on
the basis of three shifts, 300 working days per year) |
PARTICULARS OF
PRODUCTION:
|
Particulars |
31.03.2011 |
|
Inner
Tubes for Heavy Duty and LCV Tyres |
Nos.
774901 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
·
Bank of Baroda, Gandhi Road Branch, Ahmedabad –
380 001, Gujarat, India ·
Punjab
National Bank, International Banking Branch, Ground Floor, Neelkamal Building, Opposite Sales India,
Ahmedabad – 380 009, Gujarat, India |
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Facilities : |
NOTES: LONG TERM BORROWINGS: Details of
Security: ·
Term loan from banks for purchase of fixed assets
is secured by equitable mortgage of land and building and hypothecation of
plant and machineries, second charge over entire current assets of the
company present and future and personal guarantee of all directors. ·
Deferred payment liability for purchase of
vehicle is secured by hypothecation of vehicle. Terms of
Repayment: The term loan and deferred payment liability are repayable in monthly
equated installments over five years. SHORT TERM BORROWINGS: Details of Securities: Borrowings taken
for working capital from bank are secured by first charge over the entire
current assets of the company, present and future and second charge on block
of assets of the company, present and future excluding vehicles and personal
guarantee of all director. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Manubhai and Company Chartered Accountants |
|
Address : |
2nd Floor, B Wing, Premium House, Near Gandhigram Railway Station,
Navrangpura, Ahmedabad – 380009, Gujarat, India |
|
Tel. No.: |
91-79-26580956/ 26580966/ 26582484/ 26585064 |
|
Fax No.: |
91-79-26583573 |
|
E-Mail : |
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|
Website : |
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|
Income-tax
PAN of auditor or auditor's firm : |
AAFFM2086H |
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Subsidiaries : |
G8 International FZE |
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|
|
|
Enterprise over which key management personnel exercise significant
influence : |
Bhagawati Rubber Product Industries |
CAPITAL STRUCTURE
AS ON 30.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1920000 |
Equity Shares |
Rs.10/- each |
Rs.19.200 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 |
19.200 |
9.600 |
9.600 |
|
(b) Reserves & Surplus |
227.208 |
199.320 |
194.340 |
|
(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) |
246.408 |
208.920 |
203.940 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2.966 |
11.469 |
23.737 |
|
(b) Deferred tax liabilities (Net) |
15.556 |
13.324 |
13.056 |
|
(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) |
18.522 |
24.793 |
36.793 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
72.191 |
90.737 |
75.112 |
|
(b) Trade
payables |
44.255 |
32.205 |
41.241 |
|
(c) Other
current liabilities |
16.661 |
14.439 |
27.034 |
|
(d) Short-term
provisions |
28.362 |
9.266 |
7.410 |
|
Total Current
Liabilities (4) |
161.469 |
146.647 |
150.797 |
|
|
|
|
|
|
TOTAL |
426.399 |
380.360 |
391.530 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
145.441 |
138.786 |
145.965 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
1.531 |
0.000 |
0.463 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.991 |
1.991 |
1.991 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4.287 |
4.184 |
4.070 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
153.250 |
144.961 |
152.489 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.138 |
0.000 |
0.000 |
|
(b)
Inventories |
121.180 |
81.356 |
109.593 |
|
(c) Trade
receivables |
112.447 |
111.804 |
90.734 |
|
(d) Cash
and cash equivalents |
11.590 |
7.139 |
4.390 |
|
(e)
Short-term loans and advances |
18.972 |
19.882 |
34.324 |
|
(f) Other current
assets |
8.822 |
15.218 |
0.000 |
|
Total
Current Assets |
273.149 |
235.399 |
239.041 |
|
|
|
|
|
|
TOTAL |
426.399 |
380.360 |
391.530 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
815.621 |
563.712 |
453.898 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
713.469 |
533.325 |
375.497 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
102.152 |
30.387 |
78.401 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
15.544 |
14.380 |
13.434 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
86.608 |
16.007 |
64.967 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
26.657 |
5.449 |
22.562 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
59.951 |
10.558 |
42.405 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
245.436 |
182.804 |
197.573 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
247.183 |
92.509 |
67.935 |
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
31.22 |
11.00 |
44.17 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
7.35
|
1.87
|
9.34 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.48
|
4.24
|
16.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.08
|
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.31
|
0.49
|
0.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.69
|
1.61
|
1.59 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
9.600 |
9.600 |
19.200 |
|
Reserves & Surplus |
194.340 |
199.320 |
227.208 |
|
Net
worth |
203.940 |
208.920 |
246.408 |
|
|
|
|
|
|
long-term borrowings |
23.737 |
11.469 |
2.966 |
|
Short term borrowings |
75.112 |
90.737 |
72.191 |
|
Total
borrowings |
98.849 |
102.206 |
75.157 |
|
Debt/Equity
ratio |
0.485 |
0.489 |
0.305 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs. In
Millions |
|
Total
Income |
453.898 |
563.712 |
815.621 |
|
|
|
24.194 |
44.688 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total
Income |
453.898 |
563.712 |
815.621 |
|
Profit |
42.405 |
10.558 |
59.951 |
|
|
9.34% |
1.87% |
7.35% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS.
Rs.
In Millions
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long term debt |
3.917 |
7.309 |
16.864 |
|
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 |
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 |
OPERATIONS:
During the year, there has been a smart increase in the top-line as well
as the bottom-line figures of subject. The total income has increased from
Rs.563.712 Millions in 2011-12 to Rs.815.621 Millions in 2012-13, which
reflects an increase of 44.69% approximately. The profit before tax increased
from Rs.16.007 Millions in 2011-12 to Rs.86.608 Millions in 2012-13. Subject
has shown good performance due to overall positive sentiment in the market
conditions as well as the effective steps taken to control the cost at all the
levels of the business enterprise. Management expects to provide a better
performance in the coming years.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10024655 |
04/10/2013
* |
143,500,000.00 |
PUNJAB
NATIONAL BANK |
LARGE
CORPORATE BRANCH, GROUND FLOOR, NEELKAMAL |
B86040425 |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Equipments
·
Electrical Installation
·
Furniture and Fixture
·
Vehicles
·
Computers
·
Office Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or anti-terrorism
sanction laws or whose assets were seized, blocked, frozen or ordered forfeited
for violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.12 |
|
|
1 |
Rs.102.00 |
|
Euro |
1 |
Rs.81.43 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
48 |
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.