MIRA INFORM REPORT
|
Report Date : |
04.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
ALOM POLY EXTRUSIONS LIMITED |
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Formerly Known
As : |
ALOM POLY EXTRUSIONS PRIVATE LIMITED (w.e.f. 20.03.2009) TIRUPATI FISCAL SERVICES PRIVATE LIMITED |
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Registered
Office : |
Alom House, 1st Floor,
7B Pretoria Street, Kolkata - 700071, West Bengal |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
01.06.1990 |
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Com. Reg. No.: |
21-049143 |
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Capital
Investment / Paid-up Capital : |
Rs.19.874 Millions |
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CIN No.: [Company Identification
No.] |
U18101WB1990PLC049143 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CALA12077C |
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PAN No.: [Permanent Account No.] |
AABCT0536G |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of HDPE Double Wall Corrugated Pipes |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 48000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The company has incurred huge accumulated losses during the financial year
2013. Profitability seems to be under pressure. However, trade relations are fair. Business is active. Payment terms
are 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital firms
in India during 2013, registering a drop of about 18 % over the previous year.
The Information Technology and IT-Enabled Services Industry retained its
status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
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 DECLINED BY
|
Name : |
Mr. Samrat Basu |
|
Designation : |
Assistant Manager |
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Contact No.: |
91-33-40106789 |
|
Date : |
03.03.2014 |
LOCATIONS
|
Registered Office : |
Alom House, 1st Floor,
7B Pretoria Street, Kolkata - 700071, West Bengal India |
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Tel. No.: |
91-33-40106789/ 22822540/ 41 /42/ 49 |
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Fax No.: |
91-33-22827305 |
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E-Mail : |
mktg@alomextrusions.com (Marketing)
hr@alom.in ( HR Department) ibd@alomextrusions.com
(Exports) purchase@alomextrusions.com
(Purchase) |
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Website : |
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Alom Extrusions Limited, 2478/6, Chuna Mandi (1st Floor)
Pahargunj, |
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Tel. No.: |
91-11-23561741 |
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Fax No.: |
91-11-23585878 |
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E-Mail : |
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Factory : |
Mouza - Banganagar, P.S. Falta, District South 24 Parganas, West Bengal, India |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Ajay Prakash Jhunjhunwala |
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Designation : |
Director |
|
Address : |
7, |
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Date of Birth/Age : |
11.05.1958 |
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Date of Appointment : |
01.04.2008 |
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Voter ID No.: |
WB-23-146-084131 |
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DIN No.: |
00046946 |
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Name : |
Mr. Shree Prakash Jhunjhunwala |
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Designation : |
Director |
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Address : |
7, |
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Date of Birth/Age : |
01.03.1961 |
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Date of Appointment : |
01.04.2008 |
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Voter ID No.: |
WB-23-146-0841333 |
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DIN No.: |
00046987 |
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Name: |
Mr. Arnav Jhunjhunwala |
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Designation: |
Additional Director |
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Address: |
7, |
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Date o Birth: |
21.04.1987 |
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Date of Appointment |
02.08.2010 |
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DIN No.: |
03163485 |
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Name : |
Mr. Pravin Agarwal |
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Designation : |
Additional Director |
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Address : |
2F Rajashee, 6 |
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Date of Birth/Age : |
14.02.1962 |
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Date of Appointment : |
12.08.2009 |
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Din No.: |
00123504 |
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Name : |
Mr. Anshuman Kanoria |
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Designation : |
Additional Director |
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Address : |
10, |
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Date of Birth/Age : |
18.03.1962 |
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Date of Appointment : |
20.10.2009 |
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DIN No. : |
00471608 |
KEY EXECUTIVES
|
Name : |
Mr. Samrat Basu |
|
Designation : |
Assistant Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Prakash Jhunjhunwala |
200000 |
10.06 |
|
Shree Prakash Jhunjhunwala |
500000 |
25.16 |
|
Archana Jhunjhunwala |
200000 |
10.06 |
|
Devi Kusum Jhunjhunwala |
100000 |
5.03 |
|
Sangita Jhunjhunwala |
100000 |
5.03 |
|
Alom Extrusions Limited, India |
122400 |
6.16 |
|
Niket Jhunjhunwala |
300000 |
15.10 |
|
Arnav Jhunjhunwala |
300000 |
15.10 |
|
Alom Housing and Infrastructure Limited, Inida |
65000 |
3.27 |
|
Devesh Jhunjhunwala |
100000 |
5.03 |
|
Total |
1987400 |
100.00 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
9.00 |
|
Directors or relatives of Directors |
91.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of HDPE Double Wall Corrugated Pipes |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
Indian Bank, |
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Facilities : |
LONG TERM
BORROWINGS Foreign currency term loan from Export Development Canada Bank is secured by hypothecation of plant and equipment purchased out of said loan and corporate guarantee of two bodies corporate. The interest rate charged is (Libor rate + 4.5%). Rupee term loan from Indian Bank is secured by way of first pari passu charge on all fixed assets of the Company situated at Banganagar Plant (except imported plant and equipment financed by Export Development Canada Bank and second charge on all the current assets of the company, both present and future. It is further secured by Collateral security by way of equitable mortgage of 41.27 Bighas land belonging to subsidiary companies and personal guarantees of two of the directors of the company. The interest rate charged is (base rate + TP + 1.75%) The company had re-schedule the payment of Installments due to Export Development Canada Bank which were to be repaid on 15th May 2012 and thereafter. As per the agreed re-scheduled term, the Installments were deferred by six months i.e. from 15th November 2012. SHORT TERM
BORROWINGS Working capital facilities (cash credit) from banks is secured by
hypothecation of inventories, book debts, other assets, both present and
future, and also by additional charge on factory land, building and plant and
equipment (except imported plant and equipment financed by export development
canada bank), second charge on current assets and personal guarantee by two
directors of the company in favour of Indian Bank. Loans taken from directors, body corporate and other related parties
are interest free except loan taken from one of the body corporate bearing
interest @ 6% p.a. amounting to Rs. 7.763 Millions (Previous Year Rs. Nil.) |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Lodha and Company Chartered Accountants |
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Address : |
14, Government Place East, Kolkata – 700069, West Bengal, India |
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Tel. No.: |
91-33-22481111/ 1507/ 6962 |
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Fax No.: |
91-33-22486960 |
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E-mail: |
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Income-tax
PAN of auditor or auditor's firm : |
AABFL1894Q |
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Subsidiaries Companies : |
·
Exchange Suits Private Limited ·
S R Niketan Private Limited |
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·
Alom Extrusions Limited ·
Universal Machines Limited ·
Alom Housing and Infrastructure Private (Formerly
ACSY and Holdings Private Limited ·
Jams Builders Private Limited ·
Simco Commotrade Private Limited ·
Bhagirathi Estate (Private) Limited ·
Krypton Agencies (Private) Limited ·
Multitech Merchandise (Private) Limited ·
Panchanan Mercantile (Private) Limited ·
Uni wears Limited (not a related party w.e.f. 11th
January, 2013) ·
Sweet Home Projects (Private) Limited ·
Trilok Commercial Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,990,000 |
Equity Shares |
Rs.10/- each |
Rs. 19.900 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,987,400 |
Equity Shares |
Rs.10/- each |
Rs. 19.874 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
19.874 |
19.874 |
19.874 |
|
(b) Reserves & Surplus |
(7.851) |
18.353 |
22.365 |
|
(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) |
12.023 |
38.227 |
42.239 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
108.694 |
138.376 |
150.553 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.011 |
|
(c) Other long term
liabilities |
0.879 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.218 |
0.130 |
0.044 |
|
Total Non-current
Liabilities (3) |
109.791 |
138.506 |
150.608 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
262.977 |
177.427 |
106.161 |
|
(b) Trade
payables |
30.785 |
3.149 |
3.459 |
|
(c) Other
current liabilities |
55.729 |
62.478 |
52.493 |
|
(d) Short-term
provisions |
0.111 |
0.093 |
0.068 |
|
Total Current
Liabilities (4) |
349.602 |
243.147 |
162.181 |
|
|
|
|
|
|
TOTAL |
471.416 |
419.880 |
355.028 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
299.267 |
301.890 |
0.367 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
296.508 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
6.056 |
6.056 |
6.056 |
|
(c) Deferred tax assets (net) |
8.348 |
0.000 |
0.000 |
|
(d)
Long-term Loan and Advances |
0.217 |
0.295 |
5.078 |
|
(e) Other
Non-current assets |
0.000 |
0.998 |
0.886 |
|
Total Non-Current
Assets |
313.888 |
309.239 |
308.895 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
38.980 |
41.906 |
15.014 |
|
(c) Trade
receivables |
53.260 |
3.577 |
0.704 |
|
(d) Cash
and cash equivalents |
2.339 |
0.159 |
0.051 |
|
(e)
Short-term loans and advances |
31.297 |
33.630 |
30.331 |
|
(f) Other current
assets |
31.652 |
31.369 |
0.033 |
|
Total
Current Assets |
157.528 |
110.641 |
46.133 |
|
|
|
|
|
|
TOTAL |
471.416 |
419.880 |
355.028 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
80.066 |
29.844 |
0.000 |
|
|
|
Other Income |
0.099 |
0.093 |
0.126 |
|
|
|
TOTAL (A) |
80.165 |
29.937 |
0.126 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
46.882 |
31.976 |
0.000 |
|
|
|
Purchase of stock-in-trade |
2.509 |
1.668 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
15.247 |
(27.363) |
0.000 |
|
|
|
Employee benefit expense |
7.025 |
6.319 |
0.532 |
|
|
|
Other expenses |
10.651 |
13.129 |
3.479 |
|
|
|
TOTAL (B) |
82.314 |
25.729 |
4.011 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
(2.149) |
4.208 |
(3.885) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
17.682 |
23.507 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(19.831) |
(19.299) |
(3.885) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.352 |
12.240 |
0.014 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
(33.183) |
(31.539) |
(3.899) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(8.348) |
0.000 |
0.009 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(24.835) |
(31.539) |
(3.908) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(35.634) |
(4.095) |
(0.187) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(60.469) |
(35.634) |
(4.095) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores and Spares |
4.097 |
0.000 |
1.837 |
|
|
|
Capital Goods |
0.000 |
0.000 |
108.477 |
|
|
TOTAL IMPORTS |
4.097 |
0.000 |
110.314 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(12.50) |
(15.87) |
(1.97) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(30.98)
|
(105.35) |
(3101.59) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(41.44)
|
(105.68) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.26)
|
(7.62) |
(7.43) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(2.76)
|
(0.83) |
(0.09) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
30.91
|
8.26 |
6.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.45
|
0.46 |
0.28 |
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 |
19.874 |
19.874 |
19.874 |
|
Reserves & Surplus |
22.365 |
18.353 |
-7.851 |
|
Net
worth |
42.239 |
38.227 |
12.023 |
|
|
|
|
|
|
Long-term borrowings |
150.553 |
138.376 |
108.694 |
|
Short term borrowings |
106.161 |
177.427 |
262.977 |
|
Total
borrowings |
256.714 |
315.803 |
371.671 |
|
Debt/Equity
ratio |
6.078 |
8.261 |
30.913 |
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 |
0.000 |
29.844 |
80.066 |
|
|
|
168.282 |
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 |
0.000 |
29.844 |
80.066 |
|
Profit |
(3.908) |
(31.539) |
(24.835) |
|
|
(105.68%) |
(31.02%) |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
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 |
Yes |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10455702 |
27/08/2013 |
6,470,390.00 |
INDIAN BANK |
STRAND ROAD BRANCH,, 3A, HARE STREET, KOLKATA - 700001, WEST BENGAL, INDIA |
B87773974 |
|
2 |
10241174 |
09/09/2010 |
72,800,000.00 |
INDIAN BANK |
STRAND ROAD BRANCH,, 3A, HARE STREET, KOLKATA - 700001, WEST BENGAL, INDIA |
A95400719 |
|
3 |
10207806 |
08/03/2010 |
97,000,000.00 |
INDIAN BANK |
3A, HARE STREET, KOLKATA - 700001, WEST BENGAL, INDIA |
A81693491 |
|
4 |
10192194 |
22/12/2009 |
122,500,000.00 |
EXPORT DEVELOPMENT CANADA |
151 O' CONNOR STREET, OTTAWA, - LMB1M2, CANADA |
A75968206 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans Repayable on
Demand |
|
|
|
From Bodies Corporates |
18.775 |
11.296 |
|
From Related Parties |
167.864 |
127.170 |
|
From Directors |
9.400 |
2.000 |
|
Total |
196.039 |
140.466 |
CHANGE OF ADDRESS
The Registered office of the company has been
shifted from 9/12 Lal Bazar Street 4th
Floor E Block R. NO.
9A Kolkata -700001 West Bengal India to the present address
w.e.f.13.09.2008
OPERATIONS:
Commercial production has been started from 18.04.2011 and this year has produced 5.57 Lacs Kgs of DWC Pipes against last year 4.56 Lacs Kgs. The total sale of DWC Pipes was Rs. 898.01 lacs of 6.79 Lacs Kgs including last year finished goods of 2.06 lacs Kgs. However, the company is yet to operate at it's fuIl capacity, which adversely impacted the margin.
FUTURE PROSPECTS:
They are awaiting certain large orders and contracts from infrastructure developers and government agencies which shall help grow revenues significantly. Repeat orders from existing customers will also add to their company's growth prospects.
Seeing as the requirement of underground pipes is constantly growing and their company and its products are being recognized on a national level, they expect our revenues to multiply in this financial year.
FIXED ASSETS
· Leasehold Land
· Building
· Furniture and Fixtures
· Computer
· Vehicles
· Plant and Equipment’s
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.61.86 |
|
|
1 |
Rs.103.52 |
|
Euro |
1 |
Rs.85.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.