MIRA INFORM REPORT
|
Report Date : |
22.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
TOKAI ENGINEERING PRIVATE
LIMITED |
|
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|
|
Registered
Office : |
Plot No.1226, Sector 4,
Urban Estate, Gurgaon – 122 001, Haryana |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
09.07.2006 |
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Com. Reg. No.: |
05-036248 |
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Capital
Investment / Paid-up Capital : |
Rs.5.945 millions |
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CIN No.: [Company Identification
No.] |
U27310HR2006PTC036248 |
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TIN No.: |
06931929113 |
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ECC No.: |
AACT4856GXM001 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
RTKT02242C |
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PAN No.: [Permanent Account No.] |
AACCT4856G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject
is engaged in the business of fabrication and manufacturing of all types of
ferrous and non-ferrous metal components, die casting automotive components,
tools, dies, jigs and fixtures etc. |
|
|
|
|
No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 58000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an
established company having satisfactory track record. External
borrowing of the company seems to be increasing over a year. However, the
company has achieved decent growth in its profitability during the financial
year 2013. Trade relations
are fair. Business is active. Payment terms are reported to be slow but
correct. The company can
be considered for business dealings at usual trade terms and condition. |
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 |
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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.
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. Rajesh Kumar Khanna |
|
Designation : |
Director |
|
Contact No.: |
91-9810042032 |
|
Date : |
21.03.2014 |
LOCATIONS
|
Registered Office : |
Plot No.1226, Sector 4,
Urban Estate, Gurgaon – 122 001, Haryana, India |
|
Tel. No.: |
91-124-4367800/ 806 |
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Mobile No.: |
91-9810042032 (Mr. Rajesh Kumar Khanna) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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|
Factory : |
Plot No.5, Sector-2A, IMT, Manesar, Gurgaon – 122 001, Haryana, India |
|
Tel. No.: |
91-124-2291030, 31, 32, 34 |
|
Fax No.: |
91-124-4367808 |
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Location : |
Owned |
DIRECTORS
AS ON 28.09.2013
|
Name : |
Mr. Rajesh Kumar Khanna |
|
Designation : |
Director |
|
Address : |
Plot No.1226, Sector 4, Urban Estate, Gurgaon – 122 001, Haryana,
India |
|
Date of Birth/Age : |
17.03.1972 |
|
Date of Appointment : |
09.07.2006 |
|
DIN No.: |
00235156 |
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PAN No.: |
ABSPK0681L |
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Voter's identity card number : |
HR/07/61/306699 |
|
|
|
|
Name : |
Mrs. Shilu Khanna |
|
Designation : |
Director |
|
Address : |
Plot No.1226, Sector 4, Urban Estate, Gurgaon – 122 001, Haryana,
India |
|
Date of Birth/Age : |
27.12.1972 |
|
Date of Appointment : |
09.07.2006 |
|
DIN No.: |
00235302 |
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PAN No.: |
ABSPK0679A |
|
Voter's identity card number : |
HR/07/61/0306700 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Rajesh Kumar Khanna |
|
540000 |
|
Shilu Khanna |
|
10000 |
|
Maa Sarveshwari Limited, India |
|
24500 |
|
S.S.J. Food Limited, India |
|
20000 |
|
Total
|
|
594500 |
AS ON 28.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged in the business of fabrication and manufacturing of all types of ferrous
and non-ferrous metal components, die casting automotive components, tools,
dies, jigs and fixtures etc. |
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Products : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
Korea |
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Terms : |
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Selling : |
Cheque |
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Purchasing : |
Cheque |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Manufacturer
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No. of Employees : |
40 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institutions : |
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Auditors : |
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|
Name : |
Ravi Bindra and Associates Chartered Accountants |
|
Address : |
6/20, Shivaji Nagar, Gurgaon – 122001, Haryana, India |
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PAN No.: |
AADFR4691P |
CAPITAL STRUCTURE
AS ON 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
594500 |
Equity Shares |
Rs.10/- each
|
Rs.5.945
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 |
5.945 |
5.945 |
2.445 |
|
(b) Reserves & Surplus |
8.645 |
7.464 |
6.587 |
|
(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) |
14.590 |
13.409 |
9.032 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
52.231 |
46.268 |
33.626 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.024 |
0.140 |
|
(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) |
52.231 |
46.292 |
33.766 |
|
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|
|
|
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(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
26.661 |
20.743 |
20.144 |
|
(c)
Other current liabilities |
8.377 |
4.589 |
6.813 |
|
(d)
Short-term provisions |
3.665 |
2.754 |
1.551 |
|
Total
Current Liabilities (4) |
38.703 |
28.086 |
28.508 |
|
|
|
|
|
|
TOTAL |
105.524 |
87.787 |
71.306 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
31.870 |
31.687 |
27.118 |
|
(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) |
0.177 |
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 |
32.047 |
31.687 |
27.118 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
46.690 |
34.611 |
16.070 |
|
(c)
Trade receivables |
21.216 |
11.726 |
16.474 |
|
(d)
Cash and cash equivalents |
0.484 |
0.672 |
0.057 |
|
(e)
Short-term loans and advances |
4.959 |
9.042 |
11.510 |
|
(f)
Other current assets |
0.128 |
0.049 |
0.077 |
|
Total
Current Assets |
73.477 |
56.100 |
44.188 |
|
|
|
|
|
|
TOTAL |
105.524 |
87.787 |
71.306 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
105.152 |
83.226 |
89.165 |
|
|
|
Other Income |
0.212 |
0.402 |
2.047 |
|
|
|
TOTAL (A) |
105.364 |
83.628 |
91.212 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of stock-in-trade |
60.988 |
57.366 |
53.358 |
|
|
|
Changes in inventories |
(12.079) |
(18.541) |
(1.619) |
|
|
|
Employee Benefit Expenses |
8.419 |
7.175 |
6.600 |
|
|
|
Other Expenses |
33.682 |
25.128 |
23.828 |
|
|
|
TOTAL (B) |
91.010 |
71.128 |
82.167 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
14.354 |
12.500 |
9.045 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.196 |
5.429 |
2.389 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8.158 |
7.071 |
6.656 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.009 |
5.489 |
3.850 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
2.149 |
1.582 |
2.806 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.671 |
0.569 |
0.787 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
1.478 |
1.013 |
2.019 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
2.49 |
1.70 |
NA |
|
Expected Sales (2013-2014): Rs.110.000 millions
The above information has been parted by Mr. Rajesh Kumar Khanna
(Director).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.40
|
1.21 |
2.21 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.04
|
1.90 |
3.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.04
|
1.80 |
3.94 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.12 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.58
|
3.45 |
3.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.90
|
2.00 |
1.55 |
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 |
2.445 |
5.945 |
5.945 |
|
Reserves & Surplus |
6.587 |
7.464 |
8.645 |
|
Net worth |
9.032 |
13.409 |
14.590 |
|
|
|
|
|
|
Long-term borrowings |
33.626 |
46.268 |
52.231 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
33.626 |
46.268 |
52.231 |
|
Debt/Equity ratio |
3.723 |
3.451 |
3.580 |
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) |
|
Revenue from operations |
89.165 |
83.226 |
105.152 |
|
|
|
-6.661 |
26.345 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operations |
89.165 |
83.226 |
105.152 |
|
Profit |
2.019 |
1.013 |
1.478 |
|
|
2.26% |
1.22% |
1.41% |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
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 |
Yes |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
Yes |
|
34)
External Agency Rating, if available |
No |
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Other Loans and advances |
|
|
|
Business Loan from Bajaj
Finance Limited |
0.000 |
1.635 |
|
Business Loan from
Barclay Bank |
1.094 |
1.556 |
|
Business Loan from HDFC
Bank Limited |
0.541 |
1.043 |
|
Business Loan from Tata
Capital Limited |
0.000 |
0.680 |
|
Business Loan from
Religare Finvest Limited |
0.000 |
0.743 |
|
Rajesh Khanna |
10.184 |
4.434 |
|
Shilu Khanna |
1.180 |
0.280 |
|
Business Loan From Bajaj
Finance Limited (Business Loan-2) |
2.679 |
0.000 |
|
Business Loan from
Religare Finvest Limited |
1.003 |
0.000 |
|
Business Loan from Tata
Capital Financial Service Limited (Loan-2) |
0.943 |
0.000 |
|
Business Loan from lntec
Capital Limited |
3.236 |
4.769 |
|
Saryu Seating Co. |
0.400 |
0.400 |
|
Total
|
21.260 |
15.540 |
Bankers Charges
Report as per Registry
|
Corporate identity number (CIN) or foreign company registration number of the company |
U27310HR2006PTC036248 |
|
Name of the company |
TOKAI ENGINEERING PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
Plot No.1226, Sector 4,
Urban Estate, Gurgaon – 122 001, Haryana, India E-Mail: rba.gurgaon@gmail.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10316893 |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) Floating charge Others (Hypothecation of Inventory and other current asset) |
|
Particular of charge holder |
Corporation Bank, House No.1535, Maruti Kunj, Bhodsi, Gurgaon –
122102, Haryana, India E-Mail: cb0545@corpbank.co.in |
|
Nature of instrument creating charge |
Common Deed of Hypothecation of Movables/Assets/Debts The Followings Credit Facility given by Bank to the Borrower are as
under:- 1) CC 22.500 millions 2) TLR 1.185 millions 3) TLR 0.560 million 4) TLR 1.531 millions 5) TLR 6.500 millions 6) Vehicle Loan 0.208
million 7) Vehicle Loan 0.485 million 8) Vehicle Loan 1.495 millions 9) Vehicle Loan 0.219 million 10) Vehicle Loan 0.276 million 11) Vehicle Loan 0.357 million
----------------- Total 35.316 millions |
|
Date of instrument Creating the charge |
15.03.2013 |
|
Amount secured by the charge |
Rs.35.316 millions |
|
Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest: As per sanction letter Terms of Repayment: As per sanction letter Margin: As per sanction letter Extent and Operation of the charge: As per sanction letter |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Hypothecation of plant and machinery and other movables assets of the
Company (both present and future) Entire Stock and Book debts of the Company (present and future) Hypothecation of inventory, book debts and other current assets. EMG Property at Plot No.5, Sector-2A, IMT Manesar, Gurgaon-122050 Name of Guarantors:- 1) Tokai Metals Private Limited 2) Mrs. Shilu Khanna, 3) Mr. Rajesh
Kumar Khanna Corporate Guarantee of Tokai Metals Private Limited |
|
Whether
any of the property or interest therein under reference is not registered in
the name of the company If
yes, in whose name it is registered |
Yes Tokai Metals Private Limited Details as per Sanction Letter |
|
Date of instrument modifying the charge |
02.07.2012 |
|
Particulars of the present modification |
Charge modified from Rs.32.150 millions to Rs.35.316 millions. |
FINANCIAL RESULTS:
The company is involved in
the business of fabrication and manufacturing of all types of ferrous and
non-ferrous metal components, die casting automotive components, tools, dies,
jigs and fixtures etc. and during the current financial year ended on 31st
March, 2013, the company has achieved the turnover of Rs.98.029 millions
including job work of Rs.7.123 millions and earned a profit of Rs.2.149
millions before tax and earned a net profit of Rs.1.478 millions after
provision for current & deferred tax.
FIXED ASSETS:
·
Air Conditioner
·
Mobile Phone
·
Plant and Machinery
·
Desert Cooler
·
Water Dispenser
·
Office Equipment
·
Refrigerator
·
DG Set
·
Furniture and Fixtures
·
Vehicles
·
Computers
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.61.05 |
|
|
1 |
Rs.100.81 |
|
Euro |
1 |
Rs.84.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.
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