MIRA INFORM REPORT
|
Report Date : |
30.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
KUDU KNIT PROCESS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C 219 Phase VIII, Focal Point, Ludhiana – 141010, Punjab |
|
|
|
|
Country : |
India |
|
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|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
08.10.1999 |
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|
|
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Com. Reg. No.: |
16-023002 |
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|
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Capital Investment
/ Paid-up Capital : |
Rs. 34.250 Millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U17221PB1999PTC023002 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AICPM8358M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Nitrite Fabrics, Processing and
Garmenting. |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 400000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound.
Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for business dealings at usual trade
terms and condition. |
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term fund based limits = BB |
|
Rating Explanation |
Inadequate degree of safety and
high credit risk |
|
Date |
September 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term non fund based limits = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
September 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. Vipan K. Mittal |
|
Designation : |
Director |
|
Contact No.: |
91-101-2672934 |
|
Date : |
24.06.2014 |
LOCATIONS
|
Registered Office / Fabric Dyeing and Yarn Dyeing Unit : |
C 219 Phase VIII, Focal Point, Ludhiana-141010, Punjab, India |
|
Tel. No.: |
91-11-2672934 / 2673818/ 2671664 |
|
Nobile No: |
91-9814999300 |
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Fax No : |
91-161-2671665 |
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E-Mail : |
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|
|
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Knitting and Garment Unit : |
D-359, Phase-VIII, Focal Point, Near Chandigarh Road, Ludhiana-141010,
Punjab, India |
|
Tel. No.: |
91-9876605838 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Vipan Kumar Mittal |
|
Designation : |
Managing Director |
|
Address : |
319, Dr. Sham Singh Road, Civil Lines, Ludhiana-141010, Punjab, India |
|
Date of Birth/Age : |
03.10.1958 |
|
Date of Appointment : |
08.10.1999 |
|
DIN No.: |
01062548 |
|
PAN No.: |
AICPM8358M |
|
|
|
|
Name : |
Mr. Varun Mittal |
|
Designation : |
Director |
|
Address : |
319, Dr. Sham Singh Road, Civil Lines, Ludhiana-141010, Punjab, India |
|
Experience : |
27.10.1984 |
|
Date of Appointment : |
29.05.2006 |
|
DIN No.: |
01068927 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Vipan Kumar Mittal |
1697000 |
|
Vipan Kumar Karta |
717500 |
|
Sunita Mittal |
378000 |
|
Varun Mittal |
632000 |
|
Kanika Mittal |
500 |
|
TOTAL |
3425000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Nitrite Fabrics, Processing and
Garmenting. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
South Africa |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
Other and Depend |
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Purchasing : |
Other and Depend |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Others
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No. of Employees : |
300 (Approximately) |
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Bankers : |
Tel. No.: 91-11-23836776 / 2289227
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Facilities : |
SECURED
LOAN (Rs.
In Millions)
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|
|
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Banking
Relations : |
--- |
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|
Auditors : |
|
|
Name : |
R. Gupta and Company Chartered Accountant |
|
Address : |
4th Floor, Noble Enclave, Opp. Park Plaza, Bhaiwalal Chowk,
Ludhiana-141001, India |
|
Tel. No.: |
91-101-4649972 / 2444249 |
|
E-Mail : |
|
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PAN No.: |
AAEFR8895A |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500000 |
Equity Shares |
Rs.10/- each |
Rs. 35.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3425000 |
Equity Shares |
Rs.10/- each |
Rs. 34.250
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 |
34.250 |
33.150 |
31.000 |
|
(b) Reserves & Surplus |
66.375 |
55.651 |
40.515 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
13.000 |
|
Total
Shareholders’ Funds (1) + (2) |
100.625 |
88.801 |
84.515 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
64.567 |
69.703 |
28.496 |
|
(b) Deferred tax liabilities (Net) |
3.528 |
3.137 |
1.689 |
|
(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) |
68.095 |
72.840 |
30.185 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
101.494 |
93.822 |
79.574 |
|
(b) Trade
payables |
61.635 |
62.092 |
49.501 |
|
(c) Other
current liabilities |
24.977 |
14.269 |
25.704 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
188.106 |
170.183 |
154.779 |
|
|
|
|
|
|
TOTAL |
356.826 |
331.824 |
269.479 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
97.234 |
96.864 |
56.695 |
|
(ii)
Intangible Assets |
1.365 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.343 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.200 |
0.200 |
0.200 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.472 |
2.472 |
2.100 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
101.271 |
99.536 |
59.338 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
104.681 |
95.327 |
82.045 |
|
(c) Trade
receivables |
138.444 |
123.465 |
122.526 |
|
(d) Cash
and cash equivalents |
2.898 |
3.570 |
1.157 |
|
(e) Short-term
loans and advances |
6.302 |
5.164 |
4.413 |
|
(f) Other
current assets |
3.230 |
4.762 |
0.000 |
|
Total
Current Assets |
255.555 |
232.288 |
210.141 |
|
|
|
|
|
|
TOTAL |
356.826 |
331.824 |
269.479 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
555.432 |
503.002 |
|
|
|
Other Income |
|
0.429 |
0.481 |
|
|
|
TOTAL (A) |
649.528 |
555.861 |
503.483 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
236.177 |
305.327 |
|
|
|
Purchases of Stock-in-Trade |
|
113.852 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
Stock-in-Trade |
|
(14.437) |
(8.636) |
|
|
|
Employees benefits expense |
|
20.708 |
17.464 |
|
|
|
Other expenses |
|
155.784 |
156.349 |
|
|
|
TOTAL (B) |
638.663 |
512.084 |
470.504 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(Including
Finance and depreciation expenses) |
43.777 |
32.979 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
17.665 |
15.664 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
26.112 |
17.315 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
13.309 |
8.738 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
10.865 |
12.803 |
8.577 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.442 |
4.117 |
2.947 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
7.423 |
8.686 |
5.630 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
24.752 |
11.264 |
|
|
|
TOTAL EARNINGS |
24.752 |
11.264 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Consumable Stores and Dyes and Chemicals |
1.360 |
2.060 |
|
|
|
|
Capital Goods |
2.282 |
4.784 |
|
|
|
TOTAL IMPORTS |
3.642 |
6.844 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
2.17 |
2.80 |
1.82 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
700.000 |
|
|
|
|
|
The above information has been parted by Mr. Vipan Kumar Mittal
(Director).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.14 |
1.56 |
1.12 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
2.31 |
1.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.05 |
3.86 |
3.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.14 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.65 |
1.84 |
1.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36 |
1.36 |
1.36 |
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 |
31.000 |
33.150 |
34.250 |
|
Reserves & Surplus |
40.515 |
55.651 |
66.375 |
|
Net
worth |
71.515 |
88.801 |
100.625 |
|
|
|
|
|
|
long-term borrowings |
28.496 |
69.703 |
64.567 |
|
Short term borrowings |
79.574 |
93.822 |
101.494 |
|
Total
borrowings |
108.070 |
163.525 |
166.061 |
|
Debt/Equity
ratio |
1.511 |
1.841 |
1.650 |
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 |
503.483 |
555.861 |
649.528 |
|
|
|
10.403 |
16.851 |
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 |
503.483 |
555.861 |
649.528 |
|
Profit |
5.630 |
8.686 |
7.423 |
|
|
1.12% |
1.56% |
1.14% |
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 |
Yes |
|
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 |
No |
|
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 |
Note:
The registered office of the company has been shifted from C 219, Focal Pointphase VII,
Ludhiana- 141010, Punjab, India to present address w.e.f. 18.07.2011
LATIGATION DETAILS
|
PUNJAB &
HARYANA HIGH COURT CASE STATUS INFORMATION SYSTEM Case Status : PENDING Status of CRIMINAL MISCELLANEOUS PETITION 24728 of 2011
M/S JYOTI OVERSEAS LTD AND ANR Vs. M/S KUDU KNIT PROCESS PVT LTD Pet's Adv. : SHAM LAL BHALLA
Last Listed On : Thursday, May 05, 2011 List Type : FIR No. : NO FIR DETAILS AVAILABLE / NOT A CRIMINAL CASE
Complaint No. : NO COMPLAINT DETAILS AVAILABLE
Category : QUASHING PETITIONS I/O
Last Hearing Detail 1 : Before MRS JUSTICE DAYA CHAUDHARY,---,--- at Bench Sl. No : 116
Last Hearing Detail 2 : NO BENCH MENTIONED
Case
Updated on: Wednesday, May 04, 2011 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and Advances from related parties |
32.955 |
41.239 |
|
Total |
32.955 |
41.239 |
CONTINGENT LIABILITES
|
a) |
Out Standing bank Guarantees |
2.465 |
1.975 |
|
b) |
In respect of entry Tax for which stay has been granted by Punjab High
Court-no provision has been considered necessary by the management |
11.713 |
5.103 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10496695 |
27/03/2014 |
124,500,000.00 |
UNION BANK OF INDIA,SSI BRANCH |
UNION BANK OF INDIA,SSI BRANCH, B-23/1700, INDL AREA-A,LINK ROAD,NEAR CHEEMA CHOWK, LUDHIANA, PUNJAB - 141003, INDIA |
C03351681 |
|
2 |
10463275 |
06/11/2013 |
17,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
FIRST FLOOR, SCO 16 & 17, FEROZE GANDHI MARKET, OPP. LSE, LUDHIANA, PUNJAB - 141001, INDIA |
B90748773 |
|
3 |
10302029 |
02/08/2011 * |
32,900,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
FIRST FLOOR, SCO 16 & 17, FEROZE GANDHI MARKET, OPP. LSE, LUDHIANA, PUNJAB-141001, INDIA |
B18877456 |
|
4 |
90175465 |
04/10/2012 * |
119,300,000.00 |
STATE BANK OF INDIA |
SCB, MILLERGANJ, PAHWA HOSPITAL COMPLEX, LUDHIAN |
B60219441 |
* Date of charge modification
FIXED ASSETS
- Land and
Building
- Plant and
Machinery
- Furniture and
Fixtures
- Vehicles
- Office
Equiepment
- Computer
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 records 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. 60.09 |
|
|
1 |
Rs. 102.39 |
|
Euro |
1 |
Rs. 81.88 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
ASH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.