MIRA INFORM REPORT
|
Report Date : |
11.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
ZIRCON EXPORTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2/25, Kirti Nagar (W.H.S.), New Delhi – 110015 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
07.07.1994 |
|
|
|
|
Com. Reg. No.: |
55-060093 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.31.074
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1994PTC060093 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELZ00300G DELZ00257F DELZ00094D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACZ0075D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged mainly in
dealing in import and sale of timber logs and sawn timber. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
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 271000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. Profitability of the company seems to be low. 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 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
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
Management Non Co-operative
(Contact No. : 91-11-25423935)
LOCATIONS
|
Registered Office/ Factory : |
2/25, Kirti Nagar (W.H.S.), New Delhi – 110015, India |
|
Tel. No.: |
91-11-25423935/ 41420433/ 25457179/ 25439110 |
|
Fax No.: |
91-11-25152865 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
|
Survey # 79/1, 2, 3 and 80/1, 2 Padana Gandhidham, |
|
Tel. No.: |
91-2836-286247 |
|
Fax No.: |
91-2836-286248 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mrs. Sunita Jajodia |
|
Designation : |
Director |
|
Address : |
P.O. Box-254, 393, Sector-5, Sathwara Colony, Gandhidham, Kutch – 370
201, Gujarat, India |
|
Date of Birth/Age : |
17.07.1966 |
|
Date of Appointment : |
04.08.2001 |
|
DIN No.: |
00201833 |
|
PAN No.: |
AEVPJ1454Q |
|
|
|
|
Name : |
Mrs. Suman Jajodia |
|
Designation : |
Director |
|
Address : |
E-107, Greater Kailash-II, New Delhi – 110 048, India |
|
Date of Birth/Age : |
06.10.1970 |
|
Date of Appointment : |
21.12.2005 |
|
DIN No.: |
00201884 |
|
PAN No.: |
ABXPJ0018K |
|
|
|
|
Name : |
Mrs. Anita Jajodia |
|
Designation : |
Director |
|
Address : |
P.O. Box-254, 393, Sector-5, Sathwara Colony, Gandhidham, Kutch – 370
201, Gujarat, India |
|
Date of Birth/Age : |
13.01.1964 |
|
Date of Appointment : |
04.08.2001 |
|
DIN No.: |
00201811 |
|
PAN No.: |
AEWPJ5744A |
|
|
|
|
Name : |
Mr. Sanjeev Raj Kumar Jajodia |
|
Designation : |
Director |
|
Address : |
E-107, Greater Kailash-II, New Delhi – 110 048, India |
|
Date of Birth/Age : |
30.08.1972 |
|
Date of Appointment : |
04.08.2001 |
|
DIN No.: |
00190630 |
|
PAN No.: |
ADEPJ8234R |
|
|
|
|
Name : |
Mr. Krishna Murari Jajodia |
|
Designation : |
Director |
|
Address : |
P.O. Box-254, 393, Sector-5, Sathwara Colony, Gandhidham, Kutch – 370
201, Gujarat, India |
|
Date of Birth/Age : |
03.06.1964 |
|
Date of Appointment : |
01.04.2009 |
|
DIN No.: |
00201791 |
|
PAN No.: |
AEVPJ1455R |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U20211DL1997PTC086287 |
TIRUPATI
TRADELINKS PRIVATE LIMITED |
Director |
31/03/1997 |
31/03/1997 |
29/09/2012 |
Active |
NO |
|
2 |
U51109AS1997PTC005046 |
JAJODIA
TRADEINVEST PVT LTD |
Director |
15/04/1997 |
15/04/1997 |
- |
Active |
NO |
|
3 |
U74899DL1994PTC060093 |
ZIRCON EXPORTS
PRIVATE LIMITED |
Director |
01/04/2009 |
01/04/2009 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Sunita Jajodia |
|
302500 |
|
Anita Jajodia |
|
243500 |
|
Sanjeev Kumar Jajodia |
|
408100 |
|
Jugal Kishore Jajodia |
|
500 |
|
Janaksons Import Export Private Limited, |
|
85000 |
|
United White Metal Limited, |
|
210000 |
|
Subhash Taneja |
|
10000 |
|
Jugal Kishore Jajodia HUF |
|
24000 |
|
Raj Kumar Jajodia HUF |
|
35000 |
|
Raj Kumar Jajodia |
|
17300 |
|
Nirmala Devi Jajodia |
|
207500 |
|
Suman Jajodia |
|
148300 |
|
|
|
235900 |
|
Suresh Kumar Jajodia |
|
140000 |
|
Suresh Kumar Jajodia HUF |
|
40000 |
|
Manoj Kumar Jajodia |
|
500 |
|
Tirupati Trade Links Private Limited, |
|
870000 |
|
Chandan Ben Mani Bhai Gala |
|
100 |
|
Chhaya Rajesh Nagada |
|
100 |
|
Rajesh M. Nagada |
|
100 |
|
Yash Jajodia |
|
59300 |
|
Rahul Jajdia |
|
69700 |
|
|
|
|
|
Total
|
|
3107400 |
As on 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
37.00 |
|
Directors
or relatives of directors |
|
62.00 |
|
Other
top fifty shareholders |
|
1.00 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged mainly in
dealing in import and sale of timber logs and sawn timber. |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Licensed
Capacity |
Installed
Capacity |
|
Sawn Timber |
N.A. |
20000 (CBM) |
|
Wooden Doors* |
N.A. |
150000 (Nos.) |
|
Wooden Mouldings* |
N.A. |
300000 (Mtrs.) |
Note: *Production commenced w.e.f. 27.03.2007
|
Particulars |
Purchases/
Production |
|
Logs and Sawn Timber |
67992.61 (CBM) |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
||||||||||||||||||||||||||||||
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Bankers : |
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||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||
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Facilities : |
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|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sanjay Chopra and Company Chartered Accountants |
|
Address : |
G-80, Lajpat Nagar-I, New Delhi – 110024, Delhi, India |
|
Tel. No.: |
91-11-29818446/ 29817164/ 29815857 |
|
Fax No.: |
91-11-29815857 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AARFS3500L |
|
|
|
|
Associate
Companies : |
|
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3500000 |
Equity Shares |
Rs.10/- each |
Rs.35.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3107400 |
Equity Shares |
Rs.10/- each |
Rs.31.074
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 |
31.074 |
24.778 |
24.778 |
|
(b) Reserves & Surplus |
36.516 |
28.361 |
26.592 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.845 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
67.590 |
53.984 |
51.370 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
91.804 |
70.704 |
79.048 |
|
(b) Deferred tax liabilities (Net) |
4.970 |
5.241 |
9.278 |
|
(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) |
96.774 |
75.945 |
88.326 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
27.402 |
24.538 |
22.659 |
|
(b) Trade payables |
438.846 |
200.757 |
233.459 |
|
(c) Other current
liabilities |
7.075 |
29.323 |
17.771 |
|
(d) Short-term
provisions |
1.357 |
0.919 |
2.130 |
|
Total Current
Liabilities (4) |
474.680 |
255.537 |
276.019 |
|
|
|
|
|
|
TOTAL |
639.044 |
385.466 |
415.715 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
87.990 |
91.176 |
86.530 |
|
(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 |
1.479 |
1.481 |
1.618 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
89.469 |
92.657 |
88.148 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
108.240 |
68.023 |
105.003 |
|
(c) Trade receivables |
220.476 |
170.221 |
173.583 |
|
(d) Cash and cash
equivalents |
162.644 |
1.206 |
4.982 |
|
(e) Short-term loans
and advances |
34.080 |
30.145 |
23.773 |
|
(f) Other current
assets |
24.135 |
23.214 |
20.226 |
|
Total Current Assets |
549.575 |
292.809 |
327.567 |
|
|
|
|
|
|
TOTAL |
639.044 |
385.466 |
415.715 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
599.315 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
663.013 |
571.427 |
599.315 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
568.417 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
632.926 |
549.410 |
568.417 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX, FINANCIAL CHARGES, DEPRECIATION AND AMORTISATION |
30.087 |
22.017 |
30.898 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION,
INTEREST & AMORTISATION |
26.539 |
23.366 |
20.462 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
3.548 |
(1.349) |
10.436 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.087 |
(3.118) |
3.395 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
2.461 |
1.769 |
7.041 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
Nil |
Nil |
1.427 |
|
|
TOTAL EARNINGS |
Nil |
Nil |
1.427 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
382.215 |
333.579 |
286.484 |
|
|
|
Capital Goods |
2.846 |
7.272 |
0.000 |
|
|
TOTAL IMPORTS |
385.061 |
340.851 |
286.484 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
0.79 |
0.69 |
2.74 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.37 |
0.31 |
1.17 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.56 |
(0.35) |
2.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
(0.02) |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.76 |
1.76 |
1.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.16 |
1.15 |
1.19 |
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 |
24.778 |
24.778 |
31.074 |
|
Reserves & Surplus |
26.592 |
28.361 |
36.516 |
|
Share Application money
pending allotment |
0.000 |
0.845 |
0.000 |
|
Net
worth |
51.370 |
53.984 |
67.590 |
|
|
|
|
|
|
long-term borrowings |
79.048 |
70.704 |
91.804 |
|
Short term borrowings |
22.659 |
24.538 |
27.402 |
|
Total
borrowings |
101.707 |
95.242 |
119.206 |
|
Debt/Equity
ratio |
1.980 |
1.764 |
1.764 |
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 |
599.315 |
571.427 |
663.013 |
|
|
|
(4.653) |
16.028 |
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 |
599.315 |
571.427 |
663.013 |
|
Profit After Tax |
7.041 |
1.769 |
2.461 |
|
|
1.17% |
0.31% |
0.37% |
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 |
No |
|
10] |
Designation
of contact person |
No |
|
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 |
Yes |
|
33] |
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
No |
UNSECURED LOANS
|
Particular |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Loan and Advance
from related parties |
52.480 |
40.937 |
|
Loan and Advance
from Others |
38.774 |
27.390 |
|
|
|
|
|
SHORT TERM BORROWINGS |
|
|
|
Other Loan and
Advance |
|
|
|
Bank Overdrawn |
1.265 |
0.000 |
|
|
|
|
|
Total |
92.519 |
68.327 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10475672 |
15/01/2014 |
298,750,000.00 |
THE KARUR VYSYA
BANK LTD |
RAMESH NAGAR
Branch B-97 SHARADAPURI ,, RADHEY SH |
B95527867 |
|
2 |
10363344 |
05/06/2012 |
660,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W |
B42764282 |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Vehicles
·
Office Equipments
·
Industrial Shed
·
Water Tank
·
Air Conditioner
·
Electrical Equipments
·
Office Furniture and Fixture
·
Generator
·
Motor Pump
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.60.99 |
|
|
1 |
Rs.102.07 |
|
Euro |
1 |
Rs.84.53 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
SNT |
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 |
2 |
|
--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 |
|
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.