MIRA INFORM REPORT
|
Report Date : |
05.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
REDOX INDUSTRIES LIMITED (w.e.f.01.05.2013) |
|
|
|
|
Formerly Known
As : |
REDOX INDUSTRIES PRIVATE LIMITED REDOX AGRO-TECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.64, Mahalaxmi Industrial Estate, Opposite R.B Polymers,
Sanand-Viramgam Road, Iyava Ahmedabad – 382170, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
07.03.2008 |
|
|
|
|
Com. Reg. No.: |
04-053173 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24120GJ2008PLC053173 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer,
Trader and Supplier of Agricultural and Bio
Products like Bio Pesticide, Organic Pesticide, Bio Fertilizer, Plant Growth
Promoter, Bio Growth Hormone |
|
|
|
|
No. of Employees
: |
20 (Approximately) |
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 31000 |
|
|
|
|
Status : |
Small Company |
|
|
|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is a small company in its field. Its scale of activities are
limited. However, trade relations are reported to be 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 DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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. Hitesh |
|
Designation : |
Director |
|
Contact No.: |
91-+9099936203 |
|
Date : |
26.02.2014 |
LOCATIONS
|
Registered Office : |
Plot No.64, Mahalaxmi Industrial Estate, Opposite R.B Polymers,
Sanand-Viramgam Road, Iyava Ahmedabad – 382170, Gujarat, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
Website : |
|
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|
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|
Factory 1 : |
B-411, Signature-2, Opp. Relief Hotel, Sarkhej-Sanad Road, Sarkhej
District Ahmedabad – 382210, Gujarat, India
|
|
Tel. No.: |
91-79-29097959 |
|
Mob No.: |
91-9099936203 (Mr. Hitesh) 91-9099936202 (Mr. Janak Dhameliya – C.E.O) |
|
Area : |
1645 Sq. ft. |
|
Location : |
Owned |
DIRECTORS
As On 28.09.2013
|
Name : |
Mr. Hiteshbhai Kumbhani |
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|
Designation : |
Director |
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Address : |
3, Narayan Darshan, Bopal, Ahmedabad –
380085, Gujarat, India |
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Date of Birth/Age : |
29.11.1980 |
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Date of Appointment : |
07.03.2008 |
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DIN No.: |
02011144 |
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Name : |
Mr. Janakbhai Dhameliya |
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Designation : |
Director |
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Address : |
105, Suryadev Appartment, Opposite Inductothem, Bopal, Ahmedabad –
380058, Gujarat, India |
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Date of Birth/Age : |
25.08.1980 |
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Date of Appointment : |
07.03.2008 |
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DIN No.: |
02011099 |
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Other Directorship:
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Name : |
MITESHBHAI RAJANEE |
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|
Designation : |
Director |
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|
Address : |
104, Parijit Flats, Bopal, Ahmedabad – 380058, Gujarat, India |
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Date of Birth/Age : |
01.11.1980 |
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Date of Appointment : |
07.03.2008 |
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DIN No.: |
02011165 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2013
|
Name
Of Shareholders |
No. Of
Shares |
|
Mr. Chimanbhai D. Kumbhani |
85000 |
|
Devshibhai H Rajani |
80000 |
|
Hiteshbhai C Kumbhani |
59995 |
|
J S Dhameliya |
59998 |
|
M D Rajani |
60000 |
|
Shambhubhai Dhameliya |
80000 |
|
Hansaben Dhameliya |
35000 |
|
Ramaben Kumbhani |
35000 |
|
Vijayaben Rajani |
35000 |
|
Odhavjibhai Kachrabhai |
1 |
|
Laxmiben Ramani |
1 |
|
Pareshbhai Patel |
1 |
|
Shobhnaben Chandubhai |
1 |
|
Prakashbhai Pate |
1 |
|
Chandubhai Vanpariya |
1 |
|
Aartiben Chandubhai |
1 |
|
Total |
530000 |
AS ON 28.09.2013
|
Name
of Shareholders |
|
Percentage of Holding |
|
|
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer,
Trader and Supplier of Agricultural and Bio
Products like Bio Pesticide, Organic Pesticide, Bio Fertilizer, Plant Growth Promoter,
Bio Growth Hormone |
|
|
|
|
Products : |
·
Bio
Pesticide ·
Bio
Fertilizer ·
Plant
Growth Promoter ·
Plant
Growth Regulator ·
Bio Growth
Hormone |
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|
|
Terms : |
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Selling : |
Advance |
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Purchasing : |
Cheque |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers |
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No. of Employees : |
20 (Approximately) |
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Bankers : |
·
Bank of India, Sarkhej Gandhinagar Highway
Bridge, 6-7, Ground Floor, Shapath iv Opposite Karnavati Club S G Highway,
Ahmedabad - 380051, Gujarat, India ·
ICICI Bank , Ahmedabad, Gujarat, India |
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Facilities : |
Note:
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Ashok K Bhatt and Company |
|
Address : |
401, Ashram Avenue, Paldi Char Rasta, Ahmedabad – 380006, Gujarat,
India |
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Tel. No.: |
91-79-26581529 / 66311529 |
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Mobile No.: |
91-9228000687 |
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PAN No.: |
AAXPB0056G |
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E-Mail : |
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Sister Concern : |
Litmus Aggritect Private Limited |
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Related Parties: |
·
Rolend Chemical ·
Redox Bio Tech ·
Sikko Industries Limited ·
Sikko Bio – Tech ·
Sikko Bio Chem Industries ·
Sikko Products Private Limited. |
CAPITAL STRUCTURE
As On 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
530000 |
Equity Shares |
Rs.10/- each |
Rs.5.300 Million |
|
|
|
|
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As On 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Million |
|
|
|
|
|
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 |
5.000 |
5.000 |
3.300 |
|
(b) Reserves & Surplus |
2.820 |
1.864 |
1.887 |
|
(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) |
7.820 |
6.864 |
5.187 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
3.595 |
3.648 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.014 |
0.002 |
|
(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) |
3.595 |
3.662 |
0.002 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
5.163 |
4.897 |
0.404 |
|
(b) Trade payables |
2.187 |
1.350 |
4.858 |
|
(c) Other current liabilities |
1.661 |
0.451 |
0.964 |
|
(d) Short-term provisions |
0.600 |
0.350 |
0.000 |
|
Total
Current Liabilities (4) |
9.611 |
7.048 |
6.226 |
|
|
|
|
|
|
TOTAL |
21.026 |
17.574 |
11.415 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3.624 |
2.995 |
0.119 |
|
(ii) Intangible Assets |
0.011 |
0.016 |
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 |
0.075 |
0.075 |
0.000 |
|
(c) Deferred tax assets (net) |
0.032 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
3.742 |
3.086 |
0.119 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
8.912 |
6.294 |
6.790 |
|
(c) Trade receivables |
7.966 |
7.802 |
3.930 |
|
(d) Cash and cash equivalents |
0.217 |
0.307 |
0.282 |
|
(e) Short-term loans and
advances |
0.189 |
0.085 |
0.294 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
17.284 |
14.488 |
11.296 |
|
|
|
|
|
|
TOTAL |
21.026 |
17.574 |
11.415 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Revenue from Operation |
12.333 |
11.131 |
13.384 |
|
|
Other Income |
0.017 |
0.001 |
0.030 |
|
|
TOTAL
(A) |
12.350 |
11.132 |
13.414 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Changes in inventories |
0.134 |
2.344 |
(3.244) |
|
|
Employees benefits expense |
2.354 |
2.028 |
1.395 |
|
|
Trading and Other expenses |
6.755 |
5.712 |
13.760 |
|
|
TOTAL
(B) |
9.243 |
10.084 |
11.911 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
3.107 |
1.048 |
1.503 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.985 |
0.393 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.122 |
0.655 |
1.503 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
0.611 |
0.317 |
0.024 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
1.511 |
0.338 |
1.479 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
0.555 |
0.361 |
0.002 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
0.956 |
(0.023) |
1.477 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.10/- Each) |
3.02 |
(0.68) |
4.48 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
7.74 |
(0.21) |
11.01 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.25 |
3.04 |
11.05 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.22 |
1.93 |
12.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.05 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.08 |
1.25 |
1.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.80 |
2.06 |
1.81 |
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 |
3.300 |
5.000 |
5.000 |
|
Reserves & Surplus |
1.887 |
1.864 |
2.820 |
|
Net
worth |
5.187 |
6.864 |
7.820 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
3.648 |
3.595 |
|
Short term borrowings |
0.404 |
4.897 |
5.163 |
|
Total
borrowings |
0.404 |
8.545 |
8.758 |
|
Debt/Equity
ratio |
0.078 |
1.245 |
1.120 |
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) |
|
Revenure from operation |
13.384 |
11.131 |
12.333 |
|
|
|
(16.834) |
10.799 |
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 |
13.384 |
11.131 |
12.333 |
|
Profit |
1.477 |
(0.023) |
0.956 |
|
|
11.04% |
(0.21%) |
7.75% |
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 |
Yes |
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOAN
|
Particular |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Short Term
Borrowing |
|
|
|
From Shareholders |
1.725 |
1.424 |
|
TOTAL
|
1.725 |
1.424 |
Note:
Working Capital Loan from Bank of India is secured
against stock and debtors. The Working capital loans is also having an
additional security of factory building.
OPERATIONS
The Directors are pleased to inform that the
company is progressing very well. It has purchased new factory building and now
almost all the manufacturing will be done by the company itself. During the
year in spite of the adverse circumstances the company has earned profit of Rs.
1.511 Million. We are certain that we will perform better in coming years.
REVENUE RECOGNITION
(a) Sales
Sale is recognized upon the transfer of
significant risks and reward of ownership to the customers. Sales are stated at
net of discount and rebates allowed.
(b) Interest
Interest income is recognized on a time
proportion basis taking into account the amount outstanding and rate
applicable.
REGISTERED OFFICE CHANGE:
Registered office of the company has been
shifted from 15, S.K. Tiles Estate, Nr. Relief Hotel, Sarkhej - Sanand Road, Sarkhej, Ahmedabad- 382210, Gujarat, India to the preset address w.e.f. 28.02.2013
INDEX OF CHARGE:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10423734 |
22/02/2012 |
3,500,000.00 |
BANK OF INDIA |
SARKHEJ
GANDHINAGAR HIGHWAY BR 6-7, GRD FLOOR, SH |
B69841856 |
|
2 |
10424175 |
21/02/2012 |
3,500,000.00 |
BANK OF INDIA |
SARKHEJ GANDHINAGAR
HIGHWAY BR 6-7, GRD FLOOR, SH |
B69841948 |
Fixed Assets:
- Factory
Building
- Air
Conditioner
- M.S. Cylinder
- Electric
Weighing Scale
- Semi auto box
Strapping M/C, Band Sealer and Electro Magnetic Induction
- Liquid
Packing M/C
- 200Lts.
Sturrer
- Shrink Tunnel
M/C
- Semi auto
Bottle filling M/C
- Mixer Machine
Full Bag
- HP Stirer
Single Phase
- Mobile
- Furniture and
fixtures
- Electric
Fittings
- Computer
- Printer
- Trade Marks
- Maruti Alto
(White)
- Maruti Alto
(Silver)
- TATA Indigo
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.61.90 |
|
|
1 |
Rs.103.26 |
|
Euro |
1 |
Rs.85.14 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
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 |
|
24 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.