MIRA INFORM REPORT
|
Report Date : |
25.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
J T L INFRA
LIMITED |
|
|
|
|
Registered
Office : |
S.C.O. 18-19, Sector-28C, Chandigarh – 160002 (U.T) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
29.07.1991 |
|
|
|
|
Com. Reg. No.: |
53-011536 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.100.074 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L27106CH1991PLC011536 |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacture and Seller of ERW Black and Galvanized Steel Pipes and Development of Infrastructural Activities. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 594000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Profitability of the company seems to be low during 2013. However, trade relations are reported to be fair. Business is active.
Payment terms are reported to be 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.
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
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.
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 DENIED
MANAGEMENT NON CO-OPERATIVE (91-1762-281261)
LOCATIONS
|
Registered Office : |
S.C.O. 18-19, Sector-28C, Chandigarh – 160002 (U.T) |
|
Tel. No. : |
91- 172-4668000 |
|
Fax No. : |
91-172- 4667111 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Gholumajra, Derabassi, Gholumajra, Derabassi, Distt. SAS Nagar (Punjab), India |
|
Tel. No. : |
91-1762-261261-63 |
|
Fax No. : |
91-1762-280720 |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Raj Kumar Gupta |
|
Designation : |
Chairman (Non-Executive and Independent) |
|
Date of Birth / Age
: |
20.11.1940 |
|
Qualifications : |
Matric |
|
Date of Appointment
: |
09.03.2011 |
|
Other Directorship
: |
Bhojia Cemant Services Private Limited |
|
|
|
|
Name : |
Mr. Mithan Lal Singla |
|
Designation : |
Sr. Vice Chairman (Executive and Non-Independent) |
|
|
|
|
Name : |
Mr. Madan Mohan Singla |
|
Designation : |
Managing Director (Executive and Non-Independent) |
|
|
|
|
Name : |
Mr. Vijay Singla |
|
Designation : |
Executive Director (Non-Independent) |
|
|
|
|
Name : |
Mr. Rakesh Garg |
|
Designation : |
Executive Director (Non-Independent) |
|
Date of Birth / Age
: |
08.01.1970 |
|
Qualifications : |
Graduate |
|
Date of Appointment
: |
29.07.1991 |
|
Other Directorship
: |
|
|
|
|
|
Name : |
Mr. Vikram Bansal |
|
Designation : |
Director (Non-Executive and Independent) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2014
|
Category of
Shareholder |
Total No. of
Shares |
% of Total No.
of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
||
|
|
|
|
|
|
5933400 |
59.29 |
|
|
1000000 |
9.99 |
|
|
6933400 |
69.28 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
6933400 |
69.28 |
|
(B) Public Shareholding |
||
|
|
|
|
|
|
|
|
|
|
102811 |
1.03 |
|
|
|
|
|
|
216018 |
2.16 |
|
|
2209840 |
22.08 |
|
|
545361 |
5.45 |
|
|
1225 |
0.01 |
|
|
544120 |
5.44 |
|
|
16 |
0.00 |
|
|
3074030 |
30.72 |
|
Total Public shareholding (B) |
3074030 |
30.72 |
|
Total (A)+(B) |
10007430 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
10007430 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and Seller of ERW Black and Galvanized Steel Pipes and Development of Infrastructural Activities. |
PRODUCTION STATUS AS ON (31.03.2013)
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
|
ERW Pipes (Galvanized
and Balck) |
M.T. |
24000 |
24000 |
18582.335 |
|
|
|
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
HDFC Bank Limited, Industrial Area, Phase I, Chandigarh (UT), India |
||||||||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Statutory Auditors
: |
|
|
Name : |
S. Kumar Gupta and Associates Chartered Accountants |
|
Address : |
S.C.O. 35, 1st Floor, Madhya Marg, Sector-26, Chandigarh-160026, (U.T.), India |
|
|
|
|
Compliance Auditors |
|
|
Name : |
M R Chechi and Associates Company Secretaries |
|
Address : |
S.C.O. 2937-38, 2ND Floor, Sector-22C, Chandigarh-160022, (U.T.), India |
|
|
|
|
Associates : |
¨ Chetan Industries Limited ¨ Jagan Industries Limited ¨ Mirage Infra Limited ¨ MVM Metals and Alloys Private Limited |
CAPITAL STRUCTURE
As on 31.0.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12500000 |
Equity Shares |
Rs.10/- each |
Rs.125.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10007430 |
Equity Shares |
Rs.10/- each |
Rs.100.074 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 |
100.074 |
100.074 |
100.074 |
|
(b) Reserves & Surplus |
48.360 |
42.401 |
40.225 |
|
(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) |
148.434 |
142.475 |
140.299 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
7.572 |
6.031 |
6.404 |
|
(b) Deferred tax liabilities (Net) |
0.970 |
0.845 |
0.835 |
|
(c) Other long term
liabilities |
31.755 |
38.656 |
38.621 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
40.297 |
45.532 |
45.860 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
187.966 |
109.547 |
168.087 |
|
(b) Trade
payables |
54.210 |
23.583 |
27.898 |
|
(c) Other
current liabilities |
4.639 |
3.655 |
2.888 |
|
(d) Short-term
provisions |
9.178 |
3.755 |
3.788 |
|
Total Current
Liabilities (4) |
255.993 |
140.540 |
202.661 |
|
|
|
|
|
|
TOTAL |
444.724 |
328.547 |
388.820 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
54.539 |
55.933 |
51.445 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
8.330 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
11.200 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.142 |
2.407 |
1.287 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
67.881 |
58.340 |
61.062 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
105.153 |
63.389 |
71.736 |
|
(c) Trade
receivables |
182.636 |
140.673 |
177.625 |
|
(d) Cash
and cash equivalents |
7.202 |
25.024 |
6.522 |
|
(e)
Short-term loans and advances |
75.946 |
35.126 |
56.260 |
|
(f) Other current
assets |
5.906 |
5.995 |
15.615 |
|
Total
Current Assets |
376.843 |
270.207 |
327.758 |
|
|
|
|
|
|
TOTAL |
444.724 |
328.547 |
388.820 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
866.002 |
884.912 |
938.293 |
|
|
|
Other Income |
8.087 |
15.062 |
7.195 |
|
|
|
TOTAL |
874.089 |
899.974 |
945.488 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
841.363 |
806.167 |
832.842 |
|
|
|
Purchases of Stock-in-Trade |
10.917 |
33.481 |
60.158 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(30.397) |
2.258 |
2.573 |
|
|
|
Employees benefits expense |
9.767 |
10.247 |
9.046 |
|
|
|
Exceptional Item |
0.328 |
0.464 |
0.000 |
|
|
|
Other expenses |
14.649 |
17.245 |
18.437 |
|
|
|
TOTAL |
846.627 |
869.862 |
923.056 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
27.462 |
30.112 |
22.432 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
13.331 |
21.738 |
12.179 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
14.131 |
8.374 |
10.253 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
5.000 |
4.990 |
4.776 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
9.131 |
3.384 |
5.477 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.173 |
1.208 |
1.479 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
5.958 |
2.176 |
3.998 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.60 |
0.22 |
0.40 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.68 |
0.24 |
0.42 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.05 |
0.38 |
0.58 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.11 |
1.03 |
1.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.02 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.32 |
0.81 |
1.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.47 |
1.92 |
1.62 |
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 |
100.074 |
100.074 |
100.074 |
|
Reserves & Surplus |
40.225 |
42.401 |
48.360 |
|
Net
worth |
140.299 |
142.475 |
148.434 |
|
|
|
|
|
|
long-term borrowings |
6.404 |
6.031 |
7.572 |
|
Short term borrowings |
168.087 |
109.547 |
187.966 |
|
Total
borrowings |
174.491 |
115.578 |
195.538 |
|
Debt/Equity
ratio |
1.244 |
0.811 |
1.317 |
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) |
|
Sales |
938.293 |
884.912 |
866.002 |
|
|
|
(5.689) |
(2.137) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
938.293 |
884.912 |
866.002 |
|
Profit |
3.998 |
2.176 |
5.958 |
|
|
0.43% |
0.25% |
0.69% |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
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 |
No |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Long Term Loans - Others |
5.872 |
5.387 |
|
|
|
|
|
Total |
5.872 |
5.387 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10360579 |
08/08/2012 * |
268,500,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra
- 400013, INDIA |
B57009847 |
* Date of charge modification
REVIEW OF OPERATIONS AND BUSINESS
PERFORMANCE
During the year Company's turnover has been decreased marginally from Rs. 884.912 millions to Rs. 866.002 la millions. Expenditure side of the company has also been reduced from Rs. 896.125 millions to 864.629 millions during the current year. Resultantly, due to significant decrease in expenses the net surplus of the company has gone up to Rs. 9.131 millions as compared to the previous year’s surplus of Rs. 3.384 millions. Despite, the challenges prevailing in the Indian tube industry, the sector is poised to grow by having continuous focus on quality, value addition and further the cost management has helped the company to achieve this profitable growth. The Directors are committed to explore all avenues to increase operations and profitability of the Company
EXPORT PERFORMANCE
Exports turnover has been increased to Rs. 399.114 millions for the year ended 31st March, 2013 as compared to Rs. 184.157 millions of previous year.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT:
INDUSTRY STRUCTURE AND DEVELOPMENT
Indian steel industry plays a significant role in the country’s economic growth. The major contribution directs the attention that steel is having a stronghold in the traditional sectors, such as infrastructure and constructions, automobile, transportation, industrial applications etc. Moreover, steel variant stainless steel is finding innovative applications due to its corrosion resistive property. India is the fourth largest steel producer at the global front and struggling to become the second largest producer in the coming years.
After registering growth rates of 13.3% and 9.9% in FY 10 and FY 11, Indian steel consumption grew at only 5.5% during FY 12 on the back of a slowdown in demand from its key consuming industries namely construction, capital goods and automobiles. Regulatory issues, moderation in industrial activity and hardening of interest rates have adversely impacted the growth in these sectors respectively.
Indian finished steel production grew by a moderate 6.6% in FY12, after having grown at 8.8% in FY11. Supply side issues like low availability of iron ore, besides weakness in demand conditions, led to this moderation, which resulted in the domestic industry witnessing a capacity utilization of around 79%.
During the year, the steel prices continued to be volatile and the prices of pipes were market driven. Further, margins will remain under pressure due to the persistent high cost of steel production and steel producers' limited ability to pass on higher costs.
OUTLOOK
The outlook for industry appears to be reasonable in view of projected modest growth rate of Indian economy and turn around in international markets. Company defines the future opportunities and carries out business analysis and pre-feasibility studies using internal and external resources. The company while forcing a considerable growth during the financial year is having very good prospects in the near future.
Given its direct correlation to GDP growth, they expect the Indian steel industry to experience robust growth in the future. They believe the sector’s long-term positive indicators will exceed its challenges.
CONTINGENT LIABILITIES NOT PROVIDED FOR
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Bank Guarantees Outstanding |
4.877 |
4.528 |
|
Excise and Service Tax matters regarding Disallowance of Cenvat credit in appeal Before the Customs, Excise and Service Tax Authorities at different levels |
1.845 |
2.149 |
|
Income Tax Appeal CIT (A) Chandigarh |
0.930 |
0.000 |
FIXED ASSETS
œ Land
œ Building
œ Plant and Machinery
œ Transformer
œ Voltage Stablizer
œ Generator Set
œ Furniture and Fixtures
œ Fire Fighting Equipment
œ Trucks
œ Motor-Car
œ Scooter/Motor cycle
œ Telephone Instrument
œ Office Equipments
œ Pollution control Equipments
œ
Computers
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.60.10 |
|
|
1 |
Rs.102.32 |
|
Euro |
1 |
Rs.81.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.