MIRA INFORM REPORT
|
Report Date : |
28.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
ANKUR SCIENTIFIC ENERGY TECHNOLOGIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
"Ankur", Near Navrachna School, Jakat Naka, Sama Road, Vadodara – 390024, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
06.10.1986 |
|
|
|
|
Com. Reg. No.: |
04-009039 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.31.836 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231GJ1986PTC009039 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDA01164C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA7801R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Development, Manufacturer and popularization of Biomass Gasifier and
Solar Hot Water Systems. |
|
|
|
|
No. of Employees
: |
225 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1052000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating reflects healthy financial risk profile characterized by healthy
profit margins, strong presence in the biomass gasifier industry and strong
marketing and distribution network. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for 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 |
|
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BBB+ (Long Term Bank Facilities) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
January 03, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
A3+ (Short Term Bank Facilities) |
|
Rating Explanation |
Moderate degree of safety and high credit
risk. |
|
Date |
January 03, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Kalpit Parikh |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-265-2793098 |
|
Date : |
26.03.2014 |
LOCATIONS
|
Registered Office : |
"Ankur", Near Navrachna School, Jakat Naka, Sama
Road, Vadodara – 390024, Gujarat, India |
|
Tel. No.: |
91-265-2793098/ 2794021 |
|
Fax No.: |
91-265-2794042 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Vadodara, Gujarat, India |
DIRECTORS
As on: 14.08.2013
|
Name : |
Mr. Bhagchand Jain |
|
Designation : |
Director |
|
Address : |
"Ankur", Near Old Jakat Naka, Sama Road,
Vadodara – 390024, Gujarat, India |
|
Date of Birth/Age : |
24.04.1949 |
|
Date of Appointment : |
01.01.2012 |
|
DIN No.: |
00305365 |
|
|
|
|
Name : |
Mr. Ankur Jain |
|
Designation : |
Managing Director |
|
Address : |
"Ankur", Near Old Jakat Naka, Sama Road,
Vadodara – 390024, Gujarat, India |
|
Date of Birth/Age : |
28.01.1978 |
|
Date of Appointment : |
01.01.2012 |
|
DIN No.: |
00459839 |
|
|
|
|
Name : |
Mrs. Avanee Ankur Jain |
|
Designation : |
Director |
|
Address : |
Ankur Farm House, Baroda Savli Road, Vadodara -390008,
Gujarat, India |
|
Date of Birth/Age : |
27.07.1978 |
|
Date of Appointment : |
01.05.2005 |
|
DIN No.: |
00304158 |
KEY EXECUTIVES
|
Name : |
Mr. Kalpit Parikh |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 14.08.2013
|
Names of Shareholders |
No. of Shares |
%age |
|
Bhagchand Nathulalji Jain |
159600 |
50.13 |
|
Sarla Bhagchand Jain |
60900 |
19.13 |
|
Ankur Bhagchand Jain |
97860 |
30.74 |
|
|
|
|
|
Total |
318360 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on: 14.08.2013
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Development, Manufacturer and popularization of Biomass Gasifier and
Solar Hot Water Systems. |
|
|
|
|
Exports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Advance Payment, L/C, Credit and Advance Payment |
|
|
|
|
Purchasing : |
Advance Payment, L/C and Credit |
GENERAL INFORMATION
|
No. of Employees : |
225 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
Note: a. The term loan for its Power Project at Sankheda, is from 5tate 8ank of India and is repayable in 60 monthly installments from the date of disbursement of loan. b. Term Loan from Bank are also secured by personal guarantee of directors. c. The Power Project loan IS secured by Extension of equitable mortgage over land and building located at Sankheda and Savli. d. Working Capital Facilities from Bank is secured by Primary charge by way of Hypothecation of Stock, receivables and other current assets of the company, e. Working Capital Facility from bank are collaterally secured by Equitable mortgage of the company's Land and Building Situated at Village Gothda, Taluka Savli, District Vadodara. f. Working Capital Facility from Bank are also secured by personal guarantee of Directors. g. Company has a sanctioned Bank Guarantee Facility of Rs. 50.000 Millions (P.Y. Rs. 50.000 Millions.) The utilization of Bank Gurantee as on 31'' March 2013 was Rs. 28.360 Millions (P.Y. Rs. 10.689 Millions). h. The Credit balance in State Bank of India, Sankheda Branch (Current Account) is Nil (P.Y. Rs. 0.823 Millions) due to Cheques issued at the year end, and cleared in the month of April. |
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shirish Desai and Company Chartered Accountants |
|
Address : |
206, Gayatri Chambers, R.C. Dutt Road, Alkapuri, Vadodara – 390005,
Gujarat, India |
|
Tel. No.: |
91-265-2330630 |
|
Mobile No.: |
91-9724504630 |
|
E-Mail : |
|
|
Web Site : |
|
|
PAN No.: |
AAPFS2232R |
|
|
|
|
Sister Concern : |
Future Energy |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
350000 |
Equity Shares |
Rs.100/- each |
Rs.35.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
318360 |
Equity Shares |
Rs.100/- each |
Rs.31.836 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 |
31.836 |
31.836 |
31.836 |
|
(b) Reserves & Surplus |
231.359 |
179.246 |
132.848 |
|
(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) |
263.195 |
211.082 |
164.684 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
13.182 |
17.705 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
1.310 |
3.293 |
0.316 |
|
(c) Other long term
liabilities |
129.768 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
144.260 |
20.998 |
0.316 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
10.000 |
51.591 |
10.729 |
|
(b) Trade payables |
82.924 |
26.372 |
8.899 |
|
(c) Other current liabilities |
90.129 |
29.466 |
86.332 |
|
(d) Short-term provisions |
5.612 |
8.977 |
5.782 |
|
Total
Current Liabilities (4) |
188.665 |
116.406 |
111.742 |
|
|
|
|
|
|
TOTAL |
596.120 |
348.486 |
276.742 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
53.319 |
54.166 |
21.484 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
11.879 |
0.000 |
28.409 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
142.735 |
87.036 |
70.514 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
37.496 |
1.288 |
0.923 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
245.429 |
142.490 |
121.330 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
49.170 |
46.466 |
29.396 |
|
(c) Trade receivables |
91.426 |
9.075 |
43.593 |
|
(d) Cash and cash equivalents |
117.211 |
109.473 |
21.806 |
|
(e) Short-term loans and
advances |
12.541 |
2.428 |
14.210 |
|
(f) Other current assets |
80.343 |
38.554 |
46.407 |
|
Total
Current Assets |
350.691 |
205.996 |
155.412 |
|
|
|
|
|
|
TOTAL |
596.120 |
348.486 |
276.742 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
529.946 |
353.308 |
248.856 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
434.225 |
256.012 |
194.923 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
95.721 |
97.296 |
53.933 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
19.158 |
34.403 |
2.356 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
76.563 |
62.893 |
51.577 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
24.450 |
16.495 |
14.365 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
52.113 |
46.398 |
37.212 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
385.866 |
227.334 |
191.307 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores & Spares |
|
30.525 |
5.984 |
|
|
|
Capital Goods |
|
1.394 |
19.152 |
|
|
TOTAL IMPORTS |
NA |
31.919 |
25.136 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
163.69 |
NA |
NA |
|
Expected Sales (2013-2014): Rs.600.000 Millions
The above information has been parted by Mr. Kalpit Parikh
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
9.83 |
13.02 |
14.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.34 |
24.06 |
29.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29 |
0.30 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.09 |
0.33 |
0.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.86 |
1.77 |
1.39 |
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 |
31.836 |
31.836 |
31.836 |
|
Reserves & Surplus |
132.848 |
179.246 |
231.359 |
|
Net
worth |
164.684 |
211.082 |
263.195 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
17.705 |
13.182 |
|
Short term borrowings |
10.729 |
51.591 |
10.000 |
|
Total
borrowings |
10.729 |
69.296 |
23.182 |
|
Debt/Equity
ratio |
0.065 |
0.328 |
0.088 |
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 |
248.856 |
353.308 |
529.946 |
|
|
|
41.973 |
49.995 |
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 |
248.856 |
353.308 |
529.946 |
|
Profit |
37.212 |
46.398 |
52.113 |
|
|
14.95% |
13.13% |
9.83% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
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 |
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 |
Yes |
|
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 |
|
HIGH COURT OF
GUJARAT |
|
CIVIL APPLICATION (FOR STAY) No. 13040
of 2012 |
|
In SPECIAL CIVIL APPLICATION / 15435 / 2012 ( PENDING ) |
|
Status : PENDING |
( Converted from : CAST/13248/2012 ) |
CCIN No : 001003201213040 |
|
|
|||||
|
|||||
|
|||||
|
S.NO. |
Name of the Petitioner |
Advocate On Record |
|
1 |
ADITYA BIRLA INSULATORS |
SINGHI & CO for: Petitioner(s) |
|
S.NO. |
Name of the Respondant |
Advocate On Record |
|
1 |
MADHYA GUJARAT VIJ COMPANY LIMITED THRO CHIEF ENGINEER(T
& O |
MR SP HASURKAR for :Respondent(s) |
|
|
|||
|
Presented On |
: 26/11/2012 |
Registered On |
: 26/11/2012 |
|
Bench Category |
: SINGLE BENCH |
District |
: PANCHMAHALS |
|
Case Originated From |
: THROUGH ADVOCATE |
Listed |
: 31 times |
|
StageName |
: ADMISSION - CA |
||
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
SHORT TERM
BORROWINGS |
|
|
|
From Directors |
0.000 |
0.894 |
|
From State Bank of India (Current Account) |
0.000 |
0.823 |
|
|
|
|
|
Total |
0.000 |
1.717 |
Note:
The Registered Office of the company has
been shifted from "Ankur", Old Jakat Nakasama Road, Vadodara –
390024, Gujarat, India to the present address w.e.f. 10.10.2012
PERFORMANCE AND
FUTURE PLANS
During the year, the Company registered Sales and other Income of Rs. 529.946 Millions as against Rs. 353.308 Millions of previous year and achieved profit after tax of Rs. 52.113 Millions as against Rs. 46.398 Millions of Previous Year. Business growth during the year has been reasonable and as per target that we had set for ourselves. The company is making all efforts to ensure healthy growth for the future.
In terms of setting up of power projects, the second project in Sri Lanka was commissioned during the year through local subsidiary company and is slowly stabilizing. During the year, the company also bought stake of partner in its Joint Venture M/s Helios Renewables Pte Limited, Singapore. After this buy out, M/s Helios Renewables Pte Limited, Singapore has become 100% subsidiary of the company and in turn, it will have better operational and functions control over its power plant in Sri Lanka which was set up earlier under Joint Venture.
The power plant at Sankheda has generally operated at lower than expected Plant Load Factors (PLFs) for a number of reasons. Efforts are being made to overcome these hurdles and many initiatives have been taken during the year. The company hopes that these projects will start contributing positively and will also bring in substantial additional business to the company.
As usual, the export front is contributing substantially to both the top line and the bottom line. During the year under report, new countries such as Eulgaria, Chile got added. A number of major projects and orders are currently with the company from Greece, Italy, Malaysia, Guatemala, Cuba etc. and successful commissioning of these may lead to major growth of exports for such projects.
Even on the domestic front, things are starting to look up though the general business climate is still surrounded by a lot of uncertainty and regulatory issues. In spite of many challenges on the domestic front, Company got orders for 4 MW power plants to be at commissioned at 2 locations (2 MW each) from single customer. It shows confidence in the Company's technology and capabilities of execution of projects.
In spite of the global and domestic business environment, the company sees a very bright future ahead with plans for new power projects in lndia and Sri Lanka as well as major growth in exports.
FIXED ASSETS
Tangible Assets
●
Land and Building
●
Plant and Machinery
●
Office Equipment
●
Tools
●
Electrification
●
Vehicles
●
Computer
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 records 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.60.13 |
|
|
1 |
Rs.99.65 |
|
Euro |
1 |
Rs.82.91 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
YES |
|
--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 |
|
49 |
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.