MIRA INFORM REPORT
|
Report Date : |
04.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
UNITECH INTERNATIONAL LIMITED |
|
|
|
|
Registered
Office : |
1-A, 3rd Floor, Bombay Mutual Building, Sir P. M. Road, Fort, Mumbai – 400001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
11.11.1994 |
|
|
|
|
Com. Reg. No.: |
11-082810 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.99.882 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L99999MH1994PLC082810 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMU06324D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACU5049E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in manufacturing of ferrous and non-ferrous items. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 473000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. Profitability of the company seems to be low during 2013. However, trade relations are fair. Business is active. Payments 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
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 DENIED BY
|
Name : |
Mr. Joseph Mathoor |
|
Designation : |
Director |
|
Contact No.: |
91-22-25092767 |
|
Date : |
28.02.2014 |
LOCATIONS
|
Registered Office : |
1-A, 3rd Floor, Bombay Mutual Building, Sir P. M. Road, Fort, Mumbai – 400001, Maharashtra, India |
|
Tel. No. : |
91-22-25092767 |
|
Fax No. : |
Not Available |
|
E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Dhruv Rajesh Desai |
|
Designation : |
Director |
|
Address : |
Neelkanth
Valley, 7th Rajawadi Road, Ghatkopar (East), Mumbai - 400077, Maharashtra, India |
|
Date of Birth/Age : |
12.07.1984 |
|
Date of Appointment : |
27.02.2003 |
|
DIN No. : |
00493960 |
|
|
|
|
Name : |
Mr. Jagdishchandra Hansraj Ghumara |
|
Designation : |
Director |
|
Address : |
B/14, Jesica
Natakwala Lane, S.V. Road, Borivali (West), Mumbai - 400092, Maharashtra,
India |
|
Date of Birth/Age : |
17.08.1948 |
|
Date of Appointment : |
03.09.2011 |
|
DIN No. : |
00519468 |
|
|
|
|
Name : |
Mr. Pankaj Jayantilal Mehta |
|
Designation : |
Director |
|
Address : |
C - 405, Krushal
Tower, Amarmahal, G.M. Road, Chembur (West), Mumbai - 400089, Maharashtra,
India |
|
Date of Birth/Age : |
04.02.1962 |
|
Date of Appointment : |
03.04.2010 |
|
DIN No. : |
00821644 |
|
|
|
|
Name : |
Mr. Joseph Kuriakose Mathoor |
|
Designation : |
Director |
|
Address : |
12, Shankar Parvati Nivas, Chickenghar, Karnik Road, Kalyan (West),
Kalyan, Mumbai - 421304, Maharashtra, India |
|
Date of Birth/Age : |
19.05.1962 |
|
Date of Appointment : |
27.02.2003 |
|
DIN No. : |
02087812 |
|
|
|
|
Name : |
Mr. Madhusudan Hiralal Yadav |
|
Designation : |
Director |
|
Address : |
Plot No.
102/B-28, Susnehaj CHS, Gorai No 1, Borivali West, Mumbai - 400091,
Maharashtra, India |
|
Date of Birth/Age : |
03.09.1956 |
|
Date of Appointment : |
02.04.2008 |
|
DIN No. : |
03021807 |
|
|
|
|
Name : |
Reynold Vincent Misquitta |
|
Designation : |
Additional Director |
|
Address : |
House No. 79,
St. Francis Road, Vile Parle (West), Mumbai - 400056, Maharashtra, India |
|
Date of Birth/Age : |
26.07.1964 |
|
Date of Appointment : |
25.06.2013 |
|
DIN No. : |
06419502 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2013
|
Category of
Shareholder |
Total No. of
Shares |
% of Total No.
of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
||
|
|
|
|
|
|
3133000 |
31.02 |
|
|
3133000 |
31.02 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
3133000 |
31.02 |
|
(B) Public Shareholding |
||
|
|
|
|
|
|
|
|
|
|
607672 |
6.02 |
|
|
|
|
|
|
1233992 |
12.22 |
|
|
4908547 |
48.60 |
|
|
217489 |
2.15 |
|
|
217489 |
2.15 |
|
|
6967700 |
68.98 |
|
Total Public shareholding (B) |
6967700 |
68.98 |
|
Total (A)+(B) |
10100700 |
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) |
10100700 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of ferrous and non-ferrous items. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S S Agarwal and Company Chartered Accountants |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
Rs.10/- each |
Rs.110.000 Millions |
|
|
|
|
|
Issued & Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10100700 |
Equity Shares |
Rs.10/- each |
Rs.101.007 Millions |
|
|
|
|
|
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9988200 |
Equity Shares |
Rs.10/- each |
Rs.99.882 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 |
99.882 |
99.882 |
99.882 |
|
(b) Reserves & Surplus |
18.405 |
15.042 |
1.790 |
|
(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) |
118.287 |
114.924 |
101.672 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
(0.037) |
(0.037) |
(0.037) |
|
(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) |
(0.037) |
(0.037) |
(0.037) |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term borrowings |
71.721 |
32.138 |
34.296 |
|
(b) Trade payables |
282.544 |
52.767 |
117.136 |
|
(c) Other current liabilities |
28.467 |
2.179 |
0.414 |
|
(d) Short-term provisions |
4.777 |
0.004 |
0.004 |
|
Total
Current Liabilities (4) |
387.509 |
87.088 |
151.850 |
|
|
|
|
|
|
TOTAL |
505.759 |
201.975 |
253.485 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
146.733 |
146.684 |
109.263 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.219 |
(1.212) |
0.032 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
146.952 |
145.472 |
109.295 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
116.581 |
16.207 |
2.381 |
|
(c) Trade receivables |
219.795 |
30.690 |
132.228 |
|
(d) Cash and cash equivalents |
5.232 |
3.437 |
4.408 |
|
(e) Short-term loans and advances |
17.199 |
6.169 |
5.173 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
358.807 |
56.503 |
144.190 |
|
|
|
|
|
|
TOTAL |
505.759 |
201.975 |
253.485 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
SALES |
|
|
|
|
|
Income |
415.104 |
399.956 |
192.239 |
|
|
Other Income |
2.250 |
4.277 |
0.138 |
|
|
TOTAL (A) |
417.354 |
404.233 |
192.377 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
355.351 |
342.849 |
0.000 |
|
|
Manufacturing Expenses |
41.799 |
22.937 |
185.899 |
|
|
Employee Benefit Expenses |
0.000 |
0.000 |
0.427 |
|
|
Administrative & Selling
Expenses |
15.109 |
33.365 |
4.752 |
|
|
TOTAL (B) |
412.259 |
399.151 |
191.078 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
5.095 |
5.082 |
1.299 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.229 |
0.049 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.866 |
5.033 |
1.299 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
4.866 |
5.033 |
1.299 |
|
|
|
|
|
|
|
Less |
TAX (I) |
1.504 |
1.556 |
0.401 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
3.362 |
3.477 |
0.898 |
|
|
|
|
|
|
|
|
EARNING IN FOREIGN
EXCHANGE |
2.006 |
0.000 |
14.634 |
|
|
|
|
|
|
|
|
VALUE OF IMPORTS
ON CIF BASIS |
49.688 |
30.619 |
26.917 |
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.03 |
0.03 |
0.09 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.80
|
0.86 |
0.47 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.17
|
1.26 |
0.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.96
|
2.49 |
0.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.04 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.61
|
0.28 |
0.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.92
|
0.65 |
0.95 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
99.882 |
99.882 |
99.882 |
|
Reserves & Surplus |
1.790 |
15.042 |
18.405 |
|
Net
worth |
101.672 |
114.924 |
118.287 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
34.296 |
32.138 |
71.721 |
|
Total
borrowings |
34.296 |
32.138 |
71.721 |
|
Debt/Equity
ratio |
0.337 |
0.280 |
0.606 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
192.239 |
399.956 |
415.104 |
|
|
|
108.051 |
3.787 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
192.239 |
399.956 |
415.104 |
|
Profit |
0.898 |
3.477 |
3.362 |
|
|
0.47% |
0.87% |
0.81% |
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 |
No |
|
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 |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Lodging No: WPL/1969/2013 Filing Date: 08.08.2013 Reg. No.: WP/2812/014 Reg. Date: 28.01.2014 |
|
Petitioner: COSMOS CO-OPERATIVE BANK LIMITED AND ANR- Respondent: M/S. UNITECH INTERNATIONAL LIMITED AND AN Petn. Adv : MS. MEENAKSHI SAKHARE (0) District: MUMBAI |
|
Bench: DIVISION Status: Pre-Admission
Category: WRIT PETITION (OTHERS) Next Date:-
10.03.2014 Stage:- FOR ADMISSION – AFTER NOTICE
(ORIGINAL SIDE MATTERS) Coram:- ACCORDING TO
SITTING LIST ACCORDING TO SITTING LIST Last Date: 13.01.2014
Stage: FOR ADMISSION – FRESH
(ORIGINAL SIDE MATTERS) Last Coram: HON’BLE SHRI JUSTICE V.M. KANADE HON’BLE SHRI JUSTICE
GIRISH S. KULKARNI |
|
Act:-
securitization and Reconstruction of Financial Assets Act |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and Advances |
71.721 |
32.138 |
|
|
|
|
|
Total |
71.721 |
32.138 |
INDEX OF CHARGES
No Charges Exist for Company
REVIEW OF OPERATIONS:
The Company has made
Profits of Rs. 3.362 millions during the financial year. The shares of the
Company are listed at BSE Limited and Ahmedabad Stock Exchange Limited. The
past trend indicates that the Company has made growth over the years and
continues to diversify its business operations in coming years.
MANAGEMENT
DISCUSSION AND ANALYSIS REPORT
INDUSTRY OUTLOOK
The Company is a
100% EOU. The Company is engaged in manufacturing of ferrous and non-ferrous items.
It converts copper, brass and aluminum and make ingots out of it. The Company
is in the business of re-cycling of E-waste.
The Company has
also initiated following measures:
- Initiation of Internal audit process of generation and recycling of
e-waste
- Product design keeping in mind the easy dismantling and recovery or
reuse of parts.
As a manufacturing
Company we require that all the vendors abide by the applicable environmental
laws and follow environment practices that reflect the spirit of those laws.
FIXED ASSETS
² Land
² Factory Building
² Computers and I.T.
Equipments
² Furniture and
Fixtures
² Motor bike
² Electric Fitting
² Motor Vehicles
² Office Equipments
² Plant &
Machinery
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 : |
SVA |
|
|
|
|
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 |
3 |
|
--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 |
YES |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.