MIRA INFORM REPORT
|
Report Date : |
18.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
CALDERYS INDIA REFRACTORIES LIMITED (w.e.f. March 2012) |
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Formerly Known
As : |
ACE CALDERYS LIMITED (w.e.f. 13.04.2008) ACE REFRACTORIES LIMITED |
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Registered
Office : |
Katni Refractories Works, PO Katni - 483504, Madhya Pradesh |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
12.08.2005 |
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Com. Reg. No.: |
11-017865 |
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Capital
Investment / Paid-up Capital : |
Rs.349.494 Millions |
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CIN No.: [Company Identification
No.] |
U02692MP2005PLC017865 |
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PAN No.: [Permanent Account No.] |
AAFCA3610G |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Refractory Materials. |
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No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
A (67) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Maximum Credit Limit : |
USD 9275000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company have a fine track record. It is
India’s second largest refractory manufacturer. Financially company seems to be strong. Liquidity position is good.
There are no external borrowing recorded by the company. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and ad per commitment. The company can be consider for normal business dealings at usual
trade terms and conditions. |
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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
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 |
FITCH |
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Rating |
Long Term Rating : AA- (ind) |
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Rating Explanation |
Very low credit risk. Very strong capacity
for payment of financial commitments. |
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Date |
21st August, 2012 |
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. S.Z. Patil |
|
Designation : |
Account Manager |
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Contact No.: |
91-712-2528506 / 2530885 |
|
Date : |
15.03.2014 |
LOCATIONS
|
Registered Office / Factory 1 : |
Katni Refractories Works, PO Katni - 483504, Madhya Pradesh, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Head Office / Factory 2: |
Thapar House, Temple Road, Civil Lines, Nagpur – 440001, Maharashtra,
India |
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Tel. No.: |
91-712-2528506 / 2530885 |
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Fax No.: |
91-712-2530885 |
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E-Mail : |
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Branch Office : |
131/132, D-Wing, First Floor, Clover Centre, 7 Moledina Road, Pune – 411001, Maharashtra, India |
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E-Mail : |
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Factory 3 : |
6th Floor, Fidvi Tower, Mount Road, Opposite Saraf Chamber
Sadar, Nagpur – 440001, Maharashtra, India |
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Tel. No.: |
91-712-2536228 |
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Fax No.: |
91-712-2530885 |
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Location : |
Rented |
DIRECTORS
As on 30.09.2013
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Name : |
Mr. Hakimuddin Ali |
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Designation : |
Managing director |
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Address : |
107, Hakimi Villa, Fakhri Hills, Lulla Nagar, Kondhwa, Pune – 411048,
Maharashtra, India |
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Date of Birth/Age : |
18.05.1969 |
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Date of Appointment : |
01.01.2011 |
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DIN No.: |
03383031 |
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Other
Directorship:
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Name : |
Mr. Umesh Chander Deveshwar |
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Designation : |
Whole-time director |
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Address : |
302, Marina Residency, Plot No. 2/2, Nelson Square, near Poonam
Chambers, Nagpur – 440013, Maharashtra, India |
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Date of Birth/Age : |
08.10.1948 |
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Date of Appointment : |
24.09.2011 |
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DIN No.: |
00121332 |
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Other
Directorship:
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Name : |
Christian Louis Marie Marin |
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Designation : |
Nominee director |
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Address : |
1 Bis Rue Du Doctuer Rousseau, Epernay, 51200, France |
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Date of Birth/Age : |
24.12.1966 |
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Date of Appointment : |
16.06.2008 |
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DIN No.: |
02241732 |
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Other
Directorship:
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Name : |
Remy Serafin |
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Designation : |
Director |
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Address : |
8 Rue Belissen, 69005 Lyon, France |
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Date of Birth/Age : |
23.03.1971 |
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Date of Appointment : |
30.09.2013 |
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DIN No.: |
06670778 |
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KEY EXECUTIVES
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Name : |
Mr. Manoj Kakani |
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Designation : |
Secretary |
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Address : |
D5, Sanchayani Building, Swalambi Nagar, Nagpur, Maharashtra, India |
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Date of Birth/Age : |
18.04.1976 |
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Date of Appointment : |
29.01.2009 |
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PAN No.: |
AFXPK1128F |
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Name : |
Mr. S.Z. Patil |
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Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Imerys Asia Pacific Pte Limited, France |
34952308 |
|
Tapan Kumar Biswas |
1 |
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Ramkumar Dubey |
1 |
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A K Vishwakarma |
1 |
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Shyamal Bhattacharjee |
1 |
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N. P. Singh |
1 |
|
Ashish Kumar Sanyal |
1 |
|
Naveen S. |
162 |
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Total |
34952476 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
99.90 |
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Directors or relatives of Directors |
0.05 |
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Other top fifty shareholders |
0.05 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Refractory Materials. |
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Products : |
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Exports : |
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Products : |
Refractory Materials |
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Countries : |
European Country |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
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No. of Employees : |
200 (Approximately) |
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Bankers : |
Ø State Bank of
India, Corporate Group Branch, Voltas House, 23, JN Heredia Marg, Mumbai -
400001, Maharashtra, India Ø ICICI Bank
Limited, Landmarkrace Cource Circle, Alkapuri, Baroda – 390015, Gujarat,
India Ø Union Bank of
India, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai – 400021, Maharashtra,
India Ø State Bank of
India, Industrial Finance Branch, 5, Sai Complex, Bharat Nagar, Amravati
Road, Nagpur - 440033, Maharashtra, India Ø Bank of
Maharashtra Sitabuldi Branch, Sitabuldi, Nagpur - 440012, Maharashtra, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S. R. Batliboi and Associates Chartered Accountants |
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Address : |
14th Floor, The Ruby, 29 Senapati Bapat Marg, Dadar (West),
Mumbai, Maharashtra, India |
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PAN
No. : |
AABFS3421N |
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Holding Company : |
Ø Imerys Asia Pacific Pte Limited, France |
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Ultimate Holding Company: |
Ø Imerys Limited |
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Group Company : |
Ø Ex-Servicemen’s
Multipurpose Services India Private Limited, India CIN No. :
U74994MH1988PTC046992 Ø Calderys
Deutschland Gmbh And Company Ohg, Germany Ø Calderys France
SAS, France Ø Calderys UK
Limited, United Kingdom Ø Calderys South
Africa Pty Limited, South Africa Ø Calderys The
Netherlands BV, Netherlands Ø Imerys
Performance and Filtration Minerals Private Limited, India CIN No. :
U14200MH2002PTC217789 Ø Calderys
Jiansgsu Company Limited, China Ø Calderys Taiwan
Company Limited, Taiwan, Province of China Ø Calderys Itlia
S.r, Italy Ø Calderys Nordic
AB, Sweden Ø Calderys Iberica
Refractories, Spain Ø Imerys Ceramics
(India) Private Limited, India Ø Caldeys
Australia, Australia Ø Calderys
Magyarorsza, Hungary Ø Imerys Limited,
France Ø Imerys Minerals
(India) Private Limited, India |
CAPITAL STRUCTURE
After 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
51000000 |
Equity Shares |
Rs.10/- each |
Rs.510.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
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|
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|
34952476 |
Equity Shares |
Rs.10/- each |
Rs.349.525 Millions |
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As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
51000000 |
Equity Shares |
Rs.10/- each |
Rs.510.000 Millions |
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Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
34949376 |
Equity Shares |
Rs.10/- each |
Rs.349.494 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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|
I.
EQUITY AND LIABILITIES |
|
|
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|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
349.494 |
377.694 |
419.765 |
|
(b) Reserves & Surplus |
1969.300 |
2154.400 |
2026.400 |
|
(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) |
2318.794 |
2532.094 |
2446.165 |
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
13.500 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
84.700 |
81.800 |
60.300 |
|
Total
Non-current Liabilities (3) |
98.200 |
81.800 |
60.300 |
|
|
|
|
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
1042.600 |
1179.100 |
855.500 |
|
(c) Other current liabilities |
107.306 |
146.406 |
200.400 |
|
(d) Short-term provisions |
51.700 |
29.900 |
6.100 |
|
Total
Current Liabilities (4) |
1201.606 |
1355.406 |
1062.000 |
|
|
|
|
|
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TOTAL |
3618.600 |
3969.300 |
3568.465 |
|
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|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
964.700 |
999.100 |
1064.700 |
|
(ii) Intangible Assets |
236.600 |
260.600 |
284.800 |
|
(iii) Capital work-in-progress |
24.300 |
19.400 |
8.400 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
47.300 |
38.700 |
30.900 |
|
(c) Deferred tax assets (net) |
0.000 |
31.400 |
3.300 |
|
(d) Long-term Loan
and Advances |
80.600 |
69.600 |
47.100 |
|
(e) Other Non-current assets |
27.300 |
39.100 |
36.700 |
|
Total
Non-Current Assets |
1380.800 |
1457.900 |
1475.900 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
321.700 |
370.000 |
161.200 |
|
(b) Inventories |
508.800 |
668.200 |
596.863 |
|
(c) Trade receivables |
861.500 |
877.600 |
750.400 |
|
(d) Cash and cash equivalents |
447.600 |
443.000 |
301.700 |
|
(e) Short-term loans and advances |
80.900 |
113.500 |
266.400 |
|
(f) Other current assets |
17.300 |
39.100 |
16.002 |
|
Total
Current Assets |
2237.800 |
2511.400 |
2092.565 |
|
|
|
|
|
|
TOTAL |
3618.600 |
3969.300 |
3568.465 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
SALES |
|
|
|
|
|
Income |
5362.000 |
5747.100 |
5016.800 |
|
|
Other Income |
82.700 |
71.100 |
114.600 |
|
|
TOTAL (A) |
5444.700 |
5818.200 |
5131.400 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
2442.900 |
2438.700 |
2049.700 |
|
|
Purchases of Stock-in-Trade |
873.700 |
985.600 |
975.300 |
|
|
Changes in inventories of finished goods, work-in-progress and Stock-in-Trade |
(6.800) |
(3.500) |
(38.900) |
|
|
Employees benefits expense |
305.700 |
334.300 |
283.700 |
|
|
Other expenses |
866.100 |
948.000 |
849.200 |
|
|
TOTAL (B) |
4481.600 |
4703.100 |
4119.000 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
963.100 |
1115.100 |
1012.400 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.700 |
0.800 |
4.300 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
962.400 |
1114.300 |
1008.100 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
110.500 |
107.600 |
147.200 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
851.900 |
1006.700 |
860.900 |
|
|
|
|
|
|
|
Less |
TAX (I) |
263.200 |
331.800 |
276.500 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
588.700 |
674.900 |
584.400 |
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
15.59 |
16.11 |
25.38 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
10.81
|
11.60 |
11.39 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
15.89
|
17.52 |
17.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.02
|
25.95 |
24.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37
|
0.40 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.86
|
1.85 |
1.97 |
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 |
419.765 |
377.694 |
349.494 |
|
Reserves & Surplus |
2026.400 |
2154.400 |
1969.300 |
|
Net
worth |
2446.165 |
2532.094 |
2318.794 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
5016.800 |
5747.100 |
5362.000 |
|
|
|
14.557 |
(6.701) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
5016.800 |
5747.100 |
5362.000 |
|
Profit |
584.400 |
674.900 |
588.700 |
|
|
11.65% |
11.74% |
10.98% |
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 |
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) |
Yes |
|
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 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
80006007 |
12/06/2006 * |
200,000,000.00 |
UNION BANK OF INDIA |
239, VIDHAN BHAVAN MARG, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA,
INDIA |
- |
|
2 |
80006254 |
01/06/2007 * |
350,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA -390015, GUJARAT, INDIA |
A16546764 |
|
3 |
80006006 |
25/10/2012 * |
400,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, 5, SAI COMPLEX, BHARAT |
B62601372 |
* Date of charge modification
FIXED ASSETS
œ
Land
œ
Factory Building
œ
Factory Equipments
œ
Furniture and Fixtures
œ
Motor Vehicles
œ
Leasehold Improvements
œ
Railway Sidings
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.61.52 |
|
|
1 |
Rs.102.22 |
|
Euro |
1 |
Rs.85.23 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
67 |
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.