MIRA
INFORM REPORT
|
Report Date : |
27.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
RELIABLE PIPES AND TUBES LIMITED |
|
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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|
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Date of
Incorporation : |
27.12.2004 |
|
|
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|
Com. Reg. No.: |
11-150241 |
|
|
|
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Capital
Investment / Paid-up Capital : |
Rs. 2.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100MH2004PLC150241 |
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|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Trader of Ferrous and Non Ferrous Metals. |
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|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 72000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear (Bombay case site not working) |
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|
Comments : |
Subject is a well-established company having satisfactory track
record. Trade relation are reported to be fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered normal for business dealing 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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
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 : |
Ms. Neelam Mistry |
|
Designation : |
Account Head |
|
Contact No.: |
91-22-43431313 |
|
Date : |
13.03.2014 |
LOCATIONS
|
Registered Office : |
29-B Nakoda Bhawansindhi Lane, Mumbai – 400004, Maharashtra, India |
|
Tel. No.: |
91-22-43431313 / 23871516 / 66363442 / 66595341 / 66595342 |
|
Fax No.: |
91-22-23859458 |
|
E-Mail : |
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|
Website : |
|
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|
|
|
Corporate Office : |
C-16, Anand Bhuvan, 163/165, V. P. Road, Mumbai - 400
004, Maharashtra, India |
|
Tel. No.: |
91-22-23894513 / 23894514 / 23894515 / 67437400 / 67437405 |
|
Fax No.: |
91-22-23894511 |
|
E-Mail : |
|
|
Area : |
1500 Sq. ft |
|
Location : |
Owned |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Mahendrakumar Siremal Mehta |
|
Designation : |
Director |
|
Address : |
4th Floor, 201, Parekhwadi, 80/81, Vp Road, Mumbai –
400004, Maharashtra, India |
|
Date of Appointment : |
27.12.2004 |
|
DIN No.: |
00427118 |
|
|
|
|
Name : |
Mr. Bharat Mahendrakumar Mehta |
|
Designation : |
Director |
|
Address : |
4th Floor, 201, Parekhwadi, 80/81, Vp Road, Mumbai –
400004, Maharashtra, India |
|
Date of Appointment : |
27.12.2004 |
|
DIN No.: |
00427315 |
|
|
|
|
Name : |
Mr. Narendra Kanakraj Mehta |
|
Designation : |
Director |
|
Address : |
3rd Floor, Gora Gandhi Building, 78/80, Cptank Road, Mumbai
– 400004, Maharashtra, India |
|
Date of Appointment : |
27.12.2004 |
|
DIN No.: |
00427611 |
KEY EXECUTIVES
|
Name : |
Ms. Neelam Mistry |
|
Designation : |
Account Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Mahendra Kumar Mehta |
|
52500 |
|
Narendrakumar Mehta |
|
52500 |
|
Bharat Mahendrakumar Mehta |
|
30000 |
|
Ashok N. Mehta |
|
6000 |
|
Sangeeta Bharat Mehta |
|
11000 |
|
Sanjay M. Mehta |
|
1500 |
|
Kalpesh M. Mehta |
|
1500 |
|
Savita N. Mehta |
|
75000 |
|
Neelam Sanjay Mehta |
|
10000 |
|
Sitadevi M. Mehta |
|
10000 |
|
|
|
|
|
Total |
|
250000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Ferrous and Non Ferrous Metals. |
|
|
|
|
Products : |
· Stainless Steel Seamless Pipes and Tubes · Pipes Fittings · Special Steel · Carbon Steel Pipes and Tubes · Flanges · Alloy Steel Seamless Pipes and Tubes · Coil Sheet Plates · Fasteners and Olets · Angle Channel and Bar ·
Special Steel |
|
|
|
|
Exports : |
|
|
Products : |
· Stainless Steel Seamless Pipes and Tubes · Pipes Fittings · Special Steel · Carbon Steel Pipes and Tubes · Flanges · Alloy Steel Seamless Pipes and Tubes · Coil Sheet Plates · Fasteners and Olets · Angle Channel and Bar ·
Special Steel |
|
Countries : |
·
Indonesia ·
UAE ·
Saudi Arabia |
|
|
|
|
Terms : |
|
|
Selling : |
Credit / Cheque |
|
|
|
|
Purchasing : |
Credit / Cheque |
GENERAL INFORMATION
|
Suppliers : |
·
Well Spun Limited ·
Afford Freight Services Private Limited ·
Alloport Container Lines Private Limited ·
Associated Road Carries Limited ·
B.A. Wooden Box Mfgrs. ·
Bharat Steel Pipes and Tubes limited ·
Cybertech Systems and Services ·
DHL Express India Private Limited ·
IC Surana and Company ·
K. V. Logistics |
||||||||||||||||||
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|
||||||||||||||||||
|
Customers : |
Wholesalers and Retailers ·
Bhushan Steel Limited ·
Cipla Limited ·
C and S Limited ·
Daniel Measurement Solution Private Limited ·
Electrosteel Steel Limited ·
Essar Projects (India) Limited ·
Fabtech Projects and Engineers Limited ·
Garden Silk Mills Limited ·
Get Industrial System Limited |
||||||||||||||||||
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|
||||||||||||||||||
|
No. of Employees : |
50 (Approximately) |
||||||||||||||||||
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|
||||||||||||||||||
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Bankers : |
HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai - 400013, Maharashtra, India |
||||||||||||||||||
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|
||||||||||||||||||
|
Facilities : |
Overdraft: Rs. 10.000 Millions (From HDFC Bank Limited) (Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
I C Surana and Company Chartered Accountants |
|
Address : |
2nd Floo,r Kothari Building, 25 Abdul Rehman Street, Mumbai – 400003,
Maharashtra, India |
|
Tel. No.: |
91-22-23428005 / 66394303 |
|
PAN No.: |
AADPS9679J |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs. 2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.10/- each |
Rs. 2.500 Millions |
|
|
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
2.500 |
2.500 |
|
(b) Reserves & Surplus |
|
15.693 |
13.133 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
18.193 |
15.633 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
17.442 |
22.799 |
|
(b) Deferred tax liabilities
(Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
17.442 |
22.799 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
92.737 |
43.294 |
|
(c) Other current liabilities |
|
0.000 |
1.311 |
|
(d) Short-term provisions |
|
2.842 |
2.667 |
|
Total
Current Liabilities (4) |
|
95.579 |
47.272 |
|
|
|
|
|
|
TOTAL |
|
131.214 |
85.704 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1.979 |
2.117 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
0.007 |
0.010 |
|
Total
Non-Current Assets |
|
1.986 |
2.127 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
14.932 |
0.000 |
|
(c) Trade receivables |
|
84.222 |
74.635 |
|
(d) Cash and cash equivalents |
|
11.051 |
0.242 |
|
(e) Short-term loans and
advances |
|
19.023 |
8.700 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
129.228 |
83.577 |
|
|
|
|
|
|
TOTAL |
|
131.214 |
85.704 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
2.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
9.608 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
12.108 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.629 |
|
|
2] Unsecured Loans |
|
|
15.921 |
|
|
TOTAL BORROWING |
|
|
16.550 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
28.658 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1.435 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
2.519 |
|
|
Sundry Debtors |
|
|
43.592 |
|
|
Cash & Bank Balances |
|
|
0.849 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
10.465 |
|
Total
Current Assets |
|
|
57.425 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
|
|
|
|
Total
Current Liabilities |
|
|
30.211 |
|
|
Net Current Assets |
|
|
27.214 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.009 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
28.659 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
236.936 |
|
|
|
|
Other Income |
6.337 |
3.527 |
|
|
|
TOTAL
(A) |
243.273 |
255.123 |
228.837 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
221.052 |
234.182 |
|
|
|
Administrative, Selling and
other expenses |
13.191 |
10.828 |
|
|
|
Directors remuneration |
1.900 |
1.500 |
|
|
|
Prelliminary expenses written
off |
0.003 |
0.000 |
|
|
|
TOTAL
(B) |
236.146 |
246.510 |
223.308 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
7.127 |
8.613 |
Including
Finance |
|
|
|
|
|
and depreciation |
|
Less |
FINANCIAL
EXPENSES (D) |
2.981 |
3.048 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.146 |
5.565 |
|
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
0.385 |
0.464 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
3.761 |
5.101 |
5.529 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
1.202 |
1.576 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
2.559 |
3.525 |
5.529 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
13.133 |
9.608 |
6.369 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
15.692 |
13.133 |
9.608 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
10.23 |
14.10 |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.05 |
1.38 |
2.41 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.59 |
2.02 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.87 |
5.95 |
9.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.33 |
0.46 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.96 |
1.46 |
1.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35 |
1.77 |
1.91 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
2.500 |
2.500 |
|
Reserves & Surplus |
13.133 |
15.693 |
|
Net
worth |
15.633 |
18.193 |
|
|
|
|
|
long-term borrowings |
22.799 |
17.442 |
|
Short term borrowings |
0.000 |
0.000 |
|
Total
borrowings |
22.799 |
17.442 |
|
Debt/Equity
ratio |
1.458 |
0.959 |
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 |
228.837 |
255.123 |
243.273 |
|
|
|
11.487 |
(4.645) |
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 |
228.837 |
255.123 |
243.273 |
|
Profit |
5.529 |
3.525 |
2.559 |
|
|
2.42% |
1.38% |
1.05% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
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 |
No |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
OPERATIONS AND
RESULTS:
The company continued with its trading business and dealt in the Ferrous and Non –Ferrous Metals. The sales Turnover during the year was Rs.236.900 Millions as compared to Rs. 251.600 Millions for the previous year. The company earned a profit of Rs.3.761 Millions before provision for tax as compared to Rs. 1.202 Millions for the previous year
The Directors are hopeful for improved business operations and also generating income during the current financial year
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10466750 |
31/10/2013 |
40,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
B92194000 |
FIXED ASSETS
· Computer
· Furniture and Fixture
· Mobile Phone
· Motor Cycle
· Office Equipments
· Water Filter
· Xerox Machine
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. 60.17 |
|
|
1 |
Rs. 99.39 |
|
Euro |
1 |
Rs. 83.09 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
DPH |
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 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.