MIRA INFORM REPORT
|
Report Date : |
24.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
VEMB LIFESTYLE PRIVATE LIMITED (w.e.f 07.01.2011) |
|
|
|
|
Formerly Known
As : |
VAISHALI GARMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Flat No 15/16 4th Floor, A Wing Krishna Co-operative
Housing Society Off Subhash Road Next to Iflex, Vile Parle East, Mumbai –
400057, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
05.07.2005 |
|
|
|
|
Com. Reg. No.: |
11-154498 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 48.825 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U1810MH2005PTC154498 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMV12719A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCV0704F |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Hand Embroidered Fashion Garments. |
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|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
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Payment Behaviour : |
Usually correct |
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|
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Litigation : |
Clear |
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Comments : |
Subject was erstwhile started as a proprietorship concern under the name
of M/S Vaishali Enterprises in 2003, the firm changed its name and
constitution to a private limited company. The company possesses a favourable financial profile marked by
adequate networth base along with moderate capital structure and working capital
intensive nature of operations resulting in the higher utilization of working
capital limits, which is further mitigated to an extent by timely infusion of
funds from the promoters. Management has reported a significant growth in its business, characterized
by increase in its sales volume as well as net profitability during FY13. The ratings also take into consideration the susceptibility of margins
to raw material prices, foreign exchange rates and the prevailing competition
from organized as well as unorganized players in the industry. However, trade relations are fair. Business is active. Payment terms
are reported as usually correct. In view of vast promoter experience, the subject 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 |
CARE |
|
Rating |
Long term bank facilities: “BBB-“ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
07.11.2013 |
|
|
|
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A3“ |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
07.11.2013 |
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.
INFORMATION PARTED BY
|
Name : |
Mr. Gopal Singhania |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9833593910 |
|
Date : |
21.06.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Flat No 15/16 4th Floor, A Wing Krishna Co-operative
Housing Society Off Subhash Road Next to Iflex, Vile Parle East, Mumbai –
400057, Maharashtra, India |
|
Tel. No.: |
91-22-26841694/ 1653/ 40350707 |
|
Mobile No.: |
91-9833593910 (Mr. Gopal Singhania) |
|
Fax No.: |
91-22-26841790 |
|
E-Mail : |
|
|
Website : |
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|
Area : |
3000 Sq. Ft. |
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Suntek Centre, 3rd Floor, Subhash Road, Vile Parle (East), Mumbai
– 400057, Maharashtra, India |
|
Tel. No.: |
91-22-40350707 |
|
Area : |
6000 Sq. Ft. |
|
Location : |
Owned |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Punit Shivkumar Agarwal |
|
Designation : |
Director |
|
Address : |
2, Shweta Building, Plot No. 42, 1st Gulmohar Cross Road,
Juhu, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
19.03.1977 |
|
Date of Appointment : |
05.07.2005 |
|
DIN No.: |
00325616 |
|
|
|
|
Name : |
Mrs. Neetu Punit Agarwal |
|
Designation : |
Director |
|
Address : |
2, Shweta Building, Plot No. 42, 1st Gulmohar Cross Road,
Juhu, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
08.07.1976 |
|
Date of Appointment : |
05.07.2005 |
|
DIN No.: |
01506024 |
KEY EXECUTIVES
|
Name : |
Mr. Gopal Singhania |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Punit Agarwal |
|
2379100 |
|
Neetu Agarwal |
|
719400 |
|
Usha Agarwal |
|
2500 |
|
Punit Agarwal HUF |
|
155500 |
|
Kushal Bajaj |
|
10000 |
|
Athang Trader Private Limited, India |
|
428000 |
|
Tanaya Enterprises Private Limited, India |
|
760000 |
|
Hulas Textiles Private Limited, India |
|
428000 |
|
|
|
|
|
Total |
|
4882500 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
33.11 |
|
Directors or relatives of directors |
|
63.71 |
|
Other |
|
3.18 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Hand Embroidered Fashion Garments. |
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Products : |
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Exports : |
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Products : |
Fashion Garments |
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Countries : |
·
Germany ·
Dubai ·
USA ·
Australia |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Ashapura Garments, Sewri, India |
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Customers : |
Sunil Industries Limited, Dombivali, India |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial institution: |
PNB Investment Services Limited, 10, Rakesh Deep Building, Yusuf Sarai Commercial Complex, Gulmohar Enclave, New Delhi - 110049, Delhi, India |
|
|
|
|
Auditors : |
|
|
Name : |
Singrodia Goyal and Company Chartered Accountants |
|
Address : |
4A, Kaledonia-HDIL, 2nd Floor, Sahar Road, Near Andheri
Station, Andheri (East), Mumbai – 400069, Maharashtra, India |
|
PAN No.: |
AAAFS7106D |
|
|
|
|
Sister Concern: |
Taneja Enterprises Private Limited |
|
|
|
|
Related Parties : |
·
Promart Retail India Private Limited · Max Apex Limited · VEMB Retail India Private Limited · Tanaya Enterprises Private Limited ·
Vaishali Sarees Emporium |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
Rs.10/- each |
Rs. 80.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4882500 |
Equity Shares |
Rs.10/- each |
Rs. 48.825
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 |
48.825 |
28.185 |
14.800 |
|
(b) Reserves & Surplus |
272.245 |
66.312 |
23.515 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
8.800 |
|
Total Shareholders’ Funds (1) + (2) |
321.070 |
94.497 |
47.115 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
7.685 |
20.084 |
16.782 |
|
(b) Deferred tax
liabilities (Net) |
2.456 |
2.073 |
2.056 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.570 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
10.711 |
22.157 |
18.838 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
566.078 |
117.312 |
78.577 |
|
(b)
Trade payables |
77.886 |
97.503 |
13.241 |
|
(c)
Other current liabilities |
54.443 |
21.557 |
14.575 |
|
(d)
Short-term provisions |
43.455 |
7.053 |
2.393 |
|
Total
Current Liabilities (4) |
741.862 |
243.425 |
108.786 |
|
|
|
|
|
|
TOTAL |
1073.643 |
360.079 |
174.739 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
54.729 |
31.960 |
33.720 |
|
(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 |
2.187 |
0.202 |
1.345 |
|
(c)
Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
13.466 |
5.803 |
3.779 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
70.382 |
37.965 |
38.844 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
194.600 |
100.585 |
98.685 |
|
(c)
Trade receivables |
542.122 |
191.111 |
31.972 |
|
(d)
Cash and cash equivalents |
50.785 |
0.972 |
1.732 |
|
(e)
Short-term loans and advances |
215.754 |
29.446 |
3.097 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.409 |
|
Total
Current Assets |
1003.261 |
322.114 |
135.895 |
|
|
|
|
|
|
TOTAL |
1073.643 |
360.079 |
174.739 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
3566.785 |
884.946 |
401.457 |
|
|
|
Other Income |
NA |
0.714 |
0.411 |
|
|
|
TOTAL |
NA |
885.660 |
401.868 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
133.271 |
64.548 |
|
|
|
Purchases of Stock in Trade |
|
623.856 |
305.734 |
|
|
|
Changes in Inventories of Finished Goods
and stock in Trade |
|
11.808 |
(40.468) |
|
|
|
Employee Benefit Expenses |
|
14.578 |
13.466 |
|
|
|
Other Expenses |
|
48.844 |
35.831 |
|
|
|
TOTAL |
NA |
832.357 |
379.111 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
NA |
53.303 |
22.757 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
NA |
19.342 |
10.035 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
134.350 |
33.961 |
12.722 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.185 |
2.398 |
1.597 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
EXPENSES |
0.353 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
130.812 |
31.563 |
11.125 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
48.198 |
10.183 |
3.716 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
82.614 |
21.380 |
7.409 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
13.127 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
20.536 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
524.573 |
149.405 |
114.321 |
|
|
TOTAL EARNINGS |
524.573 |
149.405 |
114.321 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Finished Goods |
NA |
43.802 |
7.434 |
|
|
TOTAL IMPORTS |
NA |
43.802 |
7.434 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
29.19 |
13.63 |
5.54 |
|
|
|
- Diluted |
29.19 |
13.63 |
5.54 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
4300.000 |
|
|
|
|
|
The above information has been parted by Mr. Gopal Singhania
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA |
2.42 |
1.85 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
3.57 |
2.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.21 |
8.77 |
6.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.41 |
0.33 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.79 |
1.45 |
2.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35 |
1.32 |
1.25 |
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 |
14.800 |
28.185 |
48.825 |
|
Reserves & Surplus |
23.515 |
66.312 |
272.245 |
|
Share Application money
pending allotment |
8.800 |
0.000 |
0.000 |
|
Net worth |
47.115 |
94.497 |
321.070 |
|
|
|
|
|
|
long-term borrowings |
16.782 |
20.084 |
7.685 |
|
Short term borrowings |
78.577 |
117.312 |
566.078 |
|
Total borrowings |
95.359 |
137.396 |
573.763 |
|
Debt/Equity ratio |
2.024 |
1.454 |
1.787 |
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) |
|
Revenue from operations |
401.457 |
884.946 |
3566.785 |
|
|
|
120.434 |
303.051 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Revenue from operations |
401.457 |
884.946 |
3566.785 |
|
Profit |
7.409 |
21.380 |
82.614 |
|
|
1.85% |
2.42% |
2.32% |
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 |
4.997 |
10.841 |
7.718 |
|
|
|
|
|
|
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 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 |
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 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
Rupee term loans from banks |
0.000 |
3.829 |
|
Intercorporate borrowings |
5.755 |
0.659 |
|
|
|
|
|
Short term
borrowings |
|
|
|
Intercorporate borrowings |
11.202 |
0.000 |
|
|
|
|
|
Total |
16.957 |
4.488 |
PERFORMANCE OVERVIEW
The company has continued expanding its operations. The operating revenue for the FY 2012-13 increased to Rs. 3566.785 millions from Rs. 884.946 millions in the previous year, registering growth of 303%. The profit after tax, grew to Rs. 82.614 millions from Rs. 21.381 millions in the previous year, increasing by 286%, in line with the revenue growth. The EPS for the year grew to Rs. 29.19 per share from Rs. 13.63 per share, as compared to the previous year.
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10441287 |
12/06/2013 |
68,000,000.00 |
PUNJAB NATIONAL BANK
(MID CORPORATE BRANCH) |
BRADY HOUSE,
V.N.ROAD, FORT, MUMBAI, MAHARASHTRA - |
B81310906 |
|
2 |
10414875 |
07/06/2013 * |
650,000,000.00 |
PNB INVESTMENT
SERVICES LIMITED |
10, RAKESH DEEP
BUILDING, YUSUF SARAI COMMERCIAL |
B78832060 |
* Date of charge modification
FIXED ASSETS:
· Property – Shop
· Plant and Machinery
· Furniture and Fixtures
· Office Equipments
· Computers
· Vehicles
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. 60.19 |
|
|
1 |
Rs. 102.56 |
|
Euro |
1 |
Rs. 81.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
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 |
|
46 |
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.