MIRA INFORM REPORT
|
Report Date : |
27.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
KHANNA PAPER MILLS LIMITED (w.e.f. 28.06.2006) |
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|
Formerly Known
As : |
KHANNA PAPER MILLS PRIVATE LIMITED |
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Registered
Office : |
K-8-A, Lajpat Nagar Part – II, New Delhi – 110024 |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
02.02.1985 |
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Com. Reg. No.: |
55-020023 |
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Capital
Investment / Paid-up Capital : |
Rs.265.379 Millions |
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|
|
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CIN No.: [Company Identification
No.] |
U21012DL1985PLC020023 |
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|
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TAN No.: [Tax Deduction &
Collection Account No.] |
AMRK10059A |
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PAN No.: [Permanent Account No.] |
AAACK1375K |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing of Writing and Printing Paper (WPP),
Duplex/Triplex Board, Newsprint (NP) and Trading of Paper and Paper Products.
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 10041000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having satisfactory track
record. There incurred drastic dip in its sales turnover as well as net
profitability during 2013. However, financial position seems to be decent. The rating takes into consideration established track record of the
company in the paper industry, established dealer network and diversified
product mix along with the consistently healthy plant capacity utilization
levels. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. The company can be considered normal 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.
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 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities BBB+ |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
January 15, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities A2 |
|
Rating Explanation |
Have strong degree of safety and carry low credit risk. |
|
Date |
January 15, 2014 |
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 Office : |
K-8-A, Lajpat Nagar Part – II, New Delhi – 110 024, India |
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Tel. No.: |
91-11-41725660 |
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Fax No.: |
91-11-41725660 |
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E-Mail : |
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Website : |
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Corporate Office 1 : |
B-6, Infocity, Sector-34, Gurgaon-122 001, |
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Tel. No.: |
91-124-4964800 |
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Fax No.: |
91-124-4694836 |
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E-Mail : |
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Factory 1 : |
Village Fazilpur Badli, Faruk Nagar, District Gurgaon-122 506, |
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Tel. No.: |
91-124-4694800 - 99 |
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Corporate Office 2 / Factory 2 : |
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Tel. No.: |
91-183-5067100/ 109 / 504416 / 17 / 18 / 2710974 - 77 |
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Fax No.: |
91-183-5067110/111 / 504415 / 2710972 - 73 |
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E-Mail : |
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USA Office : |
Suite 211 B, 50 Harrison Street, Hoboken Business Center, Hoboken, NJ |
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Tel No.: |
201-850-1707 |
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Fax No.: |
201-608-6991 |
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Email : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Brij Mohan Khanna |
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Designation : |
Chairman cum Managing Director |
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Address : |
House No. 19, New Garden Colony, Amritsar – 143 001, Punjab, India |
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Date of Birth/Age : |
13.10.1947 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.04.2012 |
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PAN No. : |
AAAHB6030K |
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DIN No.: |
00062514 |
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Other
Directorship
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Name : |
Mr. Saurabh Khanna |
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Designation : |
Executive Director |
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Address : |
House No. 19, New Garden Colony, Amritsar – 143 001, Punjab, India |
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Date of Birth/Age : |
21.07.1981 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.04.2012 |
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PAN No.: |
AGRPK0523D |
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DIN No.: |
00062737 |
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Other
Directorship
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Name : |
Mr. Rahul Khanna |
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Designation : |
Executive Director |
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Address : |
House No.A-50, D.R. Enclave, Amritsar – 143001, Punjab, India |
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Date of Birth/Age : |
03.03.1979 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.04.2012 |
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PAN No. : |
ABSPK4237E |
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DIN No.: |
00067173 |
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Other
Directorship
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Name : |
Mr. Yoginder Paul Mehra |
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Designation : |
Director |
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Address : |
12, Ram Bagh, Behind GPO, Patiala – 147001, Punjab, India |
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Date of Birth/Age : |
27.05.1938 |
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Date of Appointment : |
28.09.2007 |
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DIN No.: |
01423383 |
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Other
Directorship
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Name : |
Mr. Suneet Kochhar |
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Designation : |
Director |
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Address : |
House No. 33, D.R. Enclave, Amritsar – 143001, Punjab, India |
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Date of Birth/Age : |
18.12.1974 |
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Date of Appointment : |
05.09.2011 |
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DIN No.: |
01771321 |
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Other
Directorship
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KEY EXECUTIVES
|
Name : |
Mr. Manav Arora |
|
Designation : |
Company Secretary |
|
Address : |
105A, Lane No 14, Guru Amar Dass Avenue, Ajnala Road, Amritsar –
143001, Punjab, India |
|
Date of Birth/Age : |
13.01.1985 |
|
Date of Appointment : |
11.08.2011 |
|
PAN No.: |
AHMPA4455E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
%age |
|
Brijmohan Khanna |
4766653 |
17.96 |
|
Rahul Khanna |
9072301 |
34.19 |
|
Brijmohan Khanna HUF |
3607945 |
13.60 |
|
Saurbh Khanna |
9072301 |
34.19 |
|
Shivinder Sandhu |
9820 |
0.04 |
|
Manveen Sandhu |
3570 |
0.01 |
|
Surinder Sandhu |
1785 |
0.01 |
|
Sahiljit Sandhu |
1785 |
0.01 |
|
Kiritpal Sandhu |
1785 |
0.01 |
|
TOTAL |
26537945 |
100.00 |
AS ON 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
99.93 |
|
Other top fifty shareholders |
0.07 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Writing and Printing Paper (WPP),
Duplex/Triplex Board, Newsprint (NP) and Trading of Paper and Paper Products.
|
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Products : |
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PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Papers and Duplex
Board and Newsprint Paper |
MT |
330000 |
330000 |
-- |
|
|
|
|
|
|
|
Actual
Production |
|
|
|
|
|
Paper |
MT |
-- |
-- |
110634.10 |
|
Duplex Board |
MT |
-- |
-- |
119786.22 |
|
News Print |
MT |
-- |
-- |
102860.28 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
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|
Name : |
Sharat Sekhri and Company Chartered Accountants |
|
Address : |
69 - Kennedy Avenue, Amritsar, Punjab, India |
|
PAN
No. : |
AIPPS2692K |
|
|
|
|
Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their
relatives : |
Shore to Shore Logistics
India Limited CIN No. : U60231DL2007PLC169280 |
|
|
|
|
Subsidiary company : |
Khanna Paper
Inc. |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45000000 |
Equity Shares |
Rs.10/- each |
Rs.450.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26537945 |
Equity Shares |
Rs.10/- each |
Rs.265.379 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 |
265.379 |
265.379 |
265.379 |
|
(b) Reserves & Surplus |
2245.010 |
2176.980 |
1914.646 |
|
(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) |
2510.389 |
2442.359 |
2180.025 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1493.086 |
1226.463 |
1968.224 |
|
(b) Deferred tax liabilities (Net) |
792.724 |
801.204 |
833.719 |
|
(c) Other long term liabilities |
674.889 |
467.267 |
595.135 |
|
(d) long-term provisions |
28.255 |
20.407 |
15.591 |
|
Total
Non-current Liabilities (3) |
2988.954 |
2515.341 |
3412.669 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term borrowings |
5204.028 |
5134.942 |
4192.497 |
|
(b) Trade payables |
1654.771 |
1199.844 |
1581.905 |
|
(c) Other current liabilities |
524.370 |
997.552 |
461.575 |
|
(d) Short-term provisions |
31.109 |
33.825 |
72.974 |
|
Total
Current Liabilities (4) |
7414.278 |
7366.163 |
6308.951 |
|
|
|
|
|
|
TOTAL |
12913.621 |
12323.863 |
11901.645 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
4735.301 |
4919.582 |
4994.667 |
|
(ii) Intangible Assets |
3.013 |
3.075 |
2.493 |
|
(iii) Capital work-in-progress |
217.411 |
80.853 |
158.836 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
5.290 |
5.290 |
5.490 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
30.259 |
33.177 |
26.887 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
4991.274 |
5041.977 |
5188.373 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
3176.848 |
3495.307 |
3021.278 |
|
(c) Trade receivables |
2672.444 |
2265.968 |
2474.651 |
|
(d) Cash and cash equivalents |
246.431 |
592.272 |
349.043 |
|
(e) Short-term loans and advances |
794.981 |
904.880 |
860.896 |
|
(f) Other current assets |
1031.643 |
23.459 |
7.404 |
|
Total
Current Assets |
7922.347 |
7281.886 |
6713.272 |
|
|
|
|
|
|
TOTAL |
12913.621 |
12323.863 |
11901.645 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
Income |
12616.394 |
14007.244 |
12083.575 |
|
|
|
Other Income |
145.369 |
92.152 |
314.390 |
|
|
|
TOTAL |
12761.763 |
14099.396 |
12397.965 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
Cost of Materials Consumed |
7764.300 |
7766.578 |
7654.048 |
|
|
|
Purchases of Stock-in-Trade |
900.665 |
2117.542 |
1441.845 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
Stock-in-Trade |
(662.765) |
(175.387) |
(452.344) |
|
|
|
Employees benefits expense |
334.351 |
256.715 |
204.119 |
|
|
|
Extraordinary Item |
541.847 |
0.000 |
0.000 |
|
|
|
Other expenses |
2715.132 |
2767.563 |
2530.961 |
|
|
|
TOTAL
|
11593.530 |
12733.011 |
11378.629 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
1168.233 |
1366.385 |
1019.336 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
726.397 |
722.742 |
423.326 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION
|
441.836 |
643.643 |
596.010 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
366.072 |
349.454 |
343.786 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
75.764 |
294.189 |
252.224 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
6.767 |
27.611 |
138.373 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
68.997 |
266.578 |
113.851 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
539.369 |
276.036 |
162.188 |
|
|
|
|
|
|
|
|
|
Add / Less |
PROVISION FOR
TAX EARLIER YEAR |
0.033 |
3.245 |
0.003 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
500.000 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
108.399 |
539.369 |
276.036 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
23.01 |
10.05 |
4.29 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.54
|
1.89 |
0.92 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.60
|
2.10 |
2.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.60
|
2.40 |
2.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.12 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.67
|
2.60 |
2.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07
|
0.99 |
1.06 |
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 |
265.379 |
265.379 |
265.379 |
|
Reserves & Surplus |
1914.646 |
2176.980 |
2245.010 |
|
Net
worth |
2180.025 |
2442.359 |
2510.389 |
|
|
|
|
|
|
Long-term borrowings |
1968.224 |
1226.463 |
1493.086 |
|
Short term borrowings |
4192.497 |
5134.942 |
5204.028 |
|
Total
borrowings |
6160.721 |
6361.405 |
6697.114 |
|
Debt/Equity
ratio |
2.826 |
2.605 |
2.668 |
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 |
12083.575 |
14007.244 |
12616.394 |
|
|
|
15.920 |
(9.930) |
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 |
12083.575 |
14007.244 |
12616.394 |
|
Profit |
113.851 |
266.578 |
68.997 |
|
|
0.94% |
1.90% |
0.55% |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Other loan and advances |
15.000 |
15.000 |
|
|
|
|
|
Total |
15.000 |
15.000 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10471865 |
24/12/2013 |
500,000,000.00 |
PUNJAB NATIONAL BANK |
INTERNATIONAL BANKING BRANCH, THE MALL,
AMRITSAR - 143001, |
B94120722 |
|
2 |
80021936 |
06/11/2013 * |
9,361,200,000.00 |
ORIENTAL BANK OF COMMERCE |
CIVIL LINES BRANCH, QUEENS ROAD, AMRITSAR
- 143001, PUNJAB, INDIA |
B90689589 |
* Date of charge modification
NOTE
The Registered office of the company has been shifted from E-330, First
Floor, Greater Kailash Part II, New Delhi-110048,
OUTLOOK
With the full
utilization of the installed capacity the Company is expected to increase the
sales of News Prints Paper, Writing and Printing Paper and Board. The Company
got prestigious certification of Forest Stewardship Council, which again
establishes company’s commitments towards better environmental products in
environmental sensitive market. The company is also committed towards achieving
efficiency by making attempts to reduce logistics costs and other expenses.
FIXED ASSETS
œ
Land
œ
Buildings
œ
Factory Building
œ
Plant and Equipment
œ
Vehicles
œ
Motor Vehicles
œ
Office Equipment
œ
Computer 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. 60.16 |
|
|
1 |
Rs. 102.23 |
|
Euro |
1 |
Rs. 82.04 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
47 |
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.