MIRA INFORM REPORT
|
Report Date : |
11.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
RADHE RENEWABLE ENERGY DEVELOPMENT PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No: 2621 / 2622, Gate No. 1, Road No. - D/2, Lodhika G.I.D.C.,
Kalavad Road, P.O. Metoda, Lodhika, Rajkot – 360485, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
05.04.2004 |
|
|
|
|
Com. Reg. No.: |
04-043909 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 72.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29219GJ2004PTC043909 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RKTR01189G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCR7723E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of briquette gasification plant
and fluidized bed gasifier. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track record. Management has seen an increase in its sales volume as well net profitability
whereas the profit margin remains to be low during 2013. Further, it seems that the firm undertakes moderate scale of
operations which are susceptible to volatility in raw material and fuel
prices. The ratings also take into consideration the large working capital
requirements for its operations, besides which the management has lended the
fund support to its associates which may hamper the financial flexibility of
the company. However, trade relations appear to be fair. Business is active.
Payment terms are reported as slow but correct. In view of established position and its promoters extensive experience
in the industry, the subject can be considered for business dealings 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
State-run banks hired nearly
300000 personnel including more than 94000 officers in the last four years,
according to the Indian Banks Association. A study by trade lobby Assocham in September
2013 indicated that banks would need 800000 people in the next six years. It
estimated that state-run lenders alone would hire 50000 people in 2013/14.
The Competition Commission of
India plans to issue final orders within a broad time-frame of one year in
matters where it decides to carry out detailed investigations. The number of
complaints received by the watchdog which keeps tabs on unfair trade practices
in the marketplace.
The government has detected
custom tax evasion totaling around Rs 37920 mn in 14 states until December.
Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs
8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.
Connaught Place in New Delhi
slipped four notches to become the world’s eighth most expensive office
locations. London’s West End is the world’s most expensive office market.
There are 4.072 mn number of
high value spenders under the scanner of the income tax department. The income
tax department has information that they have made cash deposits announcing to
Rs 1 mn or more in their savings bank accounts in the current financial year.
It plans to check potential evasion before the closing of the financial year on
March 31.
Estimated pharmaceutical sales
in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago.
The life sciences and health care industry is up against challenges such as
quality management, says a recent Deloitte report.
The gross non-performing assets
of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months
of the financial year. In absolute terms, the 40 listed banks added Rs 3386
crore to their gross NPAs in nine months with the State Bank of India leading
with the State Bank of India leading with an accretion of Rs 16610 crore.
The inflow of smuggled gold
doubled in 2013 following restrictions to curb the supply from official
channels to contain the current account deficit. China surpassed India in the
demand for gold for the first time in 2013 due to liberalization of gold
trading norms by its local governments.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “B” |
|
Rating Explanation |
High risk of default regarding timely
servicing of financial obligations. |
|
Date |
16.01.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A4” |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
16.01.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Alpesh |
|
Designation : |
Account Department |
|
Contact No.: |
91-2827-287865 |
|
Date : |
10.03.2014 |
LOCATIONS
|
Registered Office : |
Plot No: 2621 / 2622, Gate No. 1, Road No. - D/2, Lodhika G.I.D.C.,
Kalavad Road, P.O. Metoda, Lodhika, Rajkot – 360485, Gujarat, India |
|
Tel. No.: |
91-2827-287888 / 287889 |
|
Fax No.: |
91-2827-287887 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Shailesh Vallabhdas Makdia |
|
Designation : |
Director |
|
Address : |
125, Vrundavan Society, Kalawad Road, Rajkot, Gularat, India |
|
Date of Appointment : |
05.04.2004 |
|
DIN No.: |
00593049 |
|
|
|
|
Name : |
Mr. Sandeep Kumar Vallabhdas Makadia |
|
Designation : |
Director |
|
Address : |
Block No. 125, Vrundavan Society, Kalawad Road, Rajkot, Gularat, India |
|
Date of Appointment : |
05.04.2004 |
|
DIN No.: |
00619148 |
|
|
|
|
Name : |
Mr. Nilesh Ratilal Makadia |
|
Designation : |
Director |
|
Address : |
"Parth",
Block No.48, Ruda Nagar-1, Behind Neel-da-Dhaba, |
|
Date of Appointment : |
17.03.2006 |
|
DIN No.: |
00166121 |
|
|
|
|
Name : |
Mr. Kaushik Arjanbhai Gardharia |
|
Designation : |
Director |
|
Address : |
47, Janakpuri
Society, |
|
Date of Appointment : |
17.03.2006 |
|
DIN No.: |
00165974 |
|
|
|
|
Name : |
Mr. Vijay Chhaganlal Kalavadia |
|
Designation : |
Director |
|
Address : |
32, |
|
Date of Appointment : |
17.03.2006 |
|
DIN No.: |
00224817 |
|
|
|
|
Name : |
Mr. Vimalkumar Chhaganlal Kalavadiya |
|
Designation : |
Director |
|
Address : |
32, |
|
Date of Appointment : |
17.03.2006 |
|
DIN : |
00201488 |
|
|
|
|
Name : |
Mr. Sunil Mittal |
|
Designation : |
Director |
|
Address : |
Ruda-1, Plot No-12, Kalawad Road, City Rajkot – 360005, Gujarat, India
|
|
Date of Appointment : |
01.12.2011 |
|
DIN : |
05133281 |
KEY EXECUTIVES
|
Name : |
Mr. Amit Kumar Hasmukhbahi Bhalodi |
|
Designation : |
Company Secretary |
|
Address : |
302, Manav Flats, Near Rajdhani Appartments, Opposite Pushkardham
Society, Kalawad Road, Rajkot – 360005, Gujarat, India |
|
Date of Appointment : |
15.03.2012 |
|
PAN No.: |
AKRPB7078C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Shailesh Vallabhdas Makadia |
|
800000 |
|
Sandeepkumar Makadia |
|
1000000 |
|
Daxa Saileshbhai Makadia |
|
550000 |
|
Bina Sandipbhai Makadia |
|
950000 |
|
Parvatiben
Vallabhdas Makadia |
|
662500 |
|
Vimalkumar Chhaganlal Kalavadiya |
|
12500 |
|
Shailesh Vallabhdas Makadia (Karta Of Shailesh Vallabhdas
Makadia-HUF) |
|
475000 |
|
Sandip Vallabhdas Makadia (Karta Of Sandip Vallabhdas
Makadia-HUF) |
|
487500 |
|
Vallabhdas Vrajlatbhamia Kadia (Karta Of Vallabhdas Vrajlal Makadia-HUF) |
|
612500 |
|
RNG Finlease Private Limited, |
|
1700000 |
|
|
|
|
|
Total |
|
7250000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
23.45 |
|
Directors or relatives of directors |
|
76.55 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of briquette gasification plant
and fluidized bed gasifier. |
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Products : |
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GENERAL INFORMATION
|
Suppliers : |
S R Steel Limited |
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Customers : |
Welspun India Limited |
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No. of Employees : |
Not Available |
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Bankers : |
Central Bank of India Limited, Bhaktinagar Industrial Area Branch, Gondal Road, Rajkot - 360001, Gujarat, India |
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
H. Jamnadas and Company Chartered Accountants |
|
Address : |
“50 Jamnadas House”, 50 – Janta, Society, Opposite LIC
Building, Mahila College Chowk, Tagore Road, Rajkot - 360 001, Gujarat, India |
|
PAN No.: |
AABFH2320P |
|
|
|
|
Subsidiaries |
CIN :
U27109GJ2006PTC049342 |
|
|
|
|
Associate Concern |
|
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7250000 |
Equity Shares |
Rs.10/- each |
Rs. 72.500
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 |
72.500 |
52.500 |
52.500 |
|
(b) Reserves & Surplus |
98.901 |
94.952 |
92.760 |
|
(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) |
171.401 |
147.452 |
145.260 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
52.599 |
45.356 |
38.599 |
|
(b) Deferred tax liabilities
(Net) |
10.668 |
11.266 |
13.185 |
|
(c) Other long term
liabilities |
0.500 |
0.500 |
0.000 |
|
(d) long-term provisions |
31.280 |
20.918 |
18.802 |
|
Total
Non-current Liabilities (3) |
95.047 |
78.040 |
70.586 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
100.109 |
125.421 |
76.220 |
|
(b) Trade payables |
91.303 |
37.679 |
26.648 |
|
(c) Other current liabilities |
201.446 |
95.678 |
70.825 |
|
(d) Short-term provisions |
3.508 |
3.494 |
3.183 |
|
Total
Current Liabilities (4) |
396.366 |
262.272 |
176.876 |
|
|
|
|
|
|
TOTAL |
662.814 |
487.764 |
392.722 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
77.100 |
71.141 |
77.292 |
|
(ii) Intangible Assets |
13.746 |
15.953 |
19.074 |
|
(iii) Capital work-in-progress |
3.385 |
3.385 |
3.365 |
|
(iv) Intangible assets under
development |
1.537 |
1.537 |
1.537 |
|
(b) Non-current Investments |
138.223 |
137.723 |
94.835 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
49.520 |
19.469 |
45.731 |
|
(e) Other Non-current assets |
3.905 |
3.391 |
2.222 |
|
Total
Non-Current Assets |
287.416 |
252.599 |
244.056 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
212.869 |
121.544 |
88.828 |
|
(c) Trade receivables |
78.421 |
43.229 |
27.662 |
|
(d) Cash and cash equivalents |
2.002 |
3.966 |
0.515 |
|
(e) Short-term loans and
advances |
3.444 |
0.000 |
0.630 |
|
(f) Other current assets |
78.662 |
66.426 |
31.031 |
|
Total
Current Assets |
375.398 |
235.165 |
148.666 |
|
|
|
|
|
|
TOTAL |
662.814 |
487.764 |
392.722 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL
(A) |
414.379 |
268.434 |
217.576 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
TOTAL
(B) |
375.401 |
232.643 |
195.910 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
38.978 |
35.791 |
21.666 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
24.199 |
22.940 |
9.445 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
14.779 |
12.851 |
12.221 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
9.637 |
10.877 |
12.684 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
5.142 |
1.974 |
(0.463) |
|
|
|
|
|
|
|
Less |
TAX
(I) |
1.719 |
(0.022) |
(1.443) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
3.423 |
1.996 |
0.980 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.47 |
0.28 |
NA |
Expected Sales (2013-2014): Rs. 660.000 Millions
The above information has been parted by Mr. Alpesh
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.83 |
0.74 |
0.45 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.99 |
0.57 |
(0.16) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.01 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.90 |
1.16 |
0.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.95 |
0.90 |
0.84 |
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 |
52.500 |
52.500 |
72.500 |
|
Reserves & Surplus |
92.760 |
94.952 |
98.901 |
|
Net
worth |
145.260 |
147.452 |
171.401 |
|
|
|
|
|
|
long-term borrowings |
38.599 |
45.356 |
52.599 |
|
Short term borrowings |
76.220 |
125.421 |
100.109 |
|
Total
borrowings |
114.819 |
170.777 |
152.708 |
|
Debt/Equity
ratio |
0.790 |
1.158 |
0.891 |
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) |
|
Total Income |
217.576 |
268.434 |
414.379 |
|
|
|
23.375 |
54.369 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
217.576 |
268.434 |
414.379 |
|
Profit |
0.980 |
1.996 |
3.423 |
|
|
0.45% |
0.74% |
0.83% |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
Working capital loans from banks |
0.000 |
2.156 |
|
Deposits from directors |
16.500 |
15.450 |
|
Deposits from shareholders |
16.539 |
15.651 |
|
Deposits from others |
17.707 |
10.896 |
|
|
|
|
|
Short term borrowings
|
|
|
|
Other loans and advances |
0.014 |
0.005 |
|
|
|
|
|
Total |
50.760 |
44.158 |
Note: Registered office
address of the company has been shifted from D-111, Rajdoot Industrial Estate,
4, Umakant Pandit Udhyognagar, Near Mavdi Plot,
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10479015 |
21/02/2014 |
210,000,000.00 |
CENTRAL BANK OF INDIA LIMITED |
BHAKTINAGAR INDUSTRIAL AREA BRANCH, GONDAL ROAD, RAJKOT, GUJARAT - 360001, INDIA |
B96962048 |
|
2 |
10463990 |
05/12/2013 |
92,900,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
1ST FLOOR, "NIRMAL", 7, RAMKRISHNA NAGAR, OPP. COMMISSIONER BUNGLOW, OFF. YAGNIK ROAD, RAJKOT, GUJARAT - 360001, INDIA |
B91037036 |
|
3 |
10459026 |
28/12/2013 * |
50,000,000.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI, MAHARASHTRA - 400710, INDIA |
B93058956 |
|
4 |
10278244 |
04/02/2013 * |
201,395,000.00 |
BANK OF INDIA LIMITED |
RAJKOT MAIN BRANCH, PARA BAZAR, RAJKOT, GUJARAT - 360001, INDIA |
B68924448 |
|
5 |
10270401 |
01/03/2011 |
240,564,000.00 |
BANK OF INDIA |
RAJKOT MID CORPORATE BANKING BRANCH, BANK OF INDIA BUILDING, PARA BAZAR, RAJKOT, GUJARAT - 360005, INDIA |
B07340284 |
|
6 |
10268981 |
25/01/2011 |
240,564,000.00 |
BANK OF INDIA |
RAJKOT MID CORPORATE BANKING BRANCH, BANK OF INDIA BUILDING, PARA BAZAR, RAJKOT, GUJARAT - 360001, INDIA |
B05459599 |
* Date of charge modification
FIXED ASSETS:
- Land
- Building
- Plant and
Machinery
- Furniture and
Fixtures
- Computer
- Office
Equipments
- Electrical
Installations
- Wind Mill
- Vehicles
- Drum Rotator
Machinery
- Diesel
Generator
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. 61.20 |
|
|
1 |
Rs. 102.35 |
|
Euro |
1 |
Rs. 84.95 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
4 |
|
--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 |
|
29 |
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.