MIRA
INFORM REPORT
|
Report Date : |
09.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
COMMTEL NETWORKS PRIVATE LIMITED (w.e.f. 25.02.2002) |
|
|
|
|
Formerly Known
As : |
COMMTEL DEDICATED NETWORK SOLUTIONS ( |
|
|
|
|
Registered
Office : |
23 White Castle, 34-35, Union Park, Sion-Trombe Road, Chembur, Mumbai -
400071, Maharashtra |
|
|
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|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
31.07.1998 |
|
|
|
|
Com. Reg. No.: |
11-116062 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 19.539 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32201MH1998PTC116062 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC10355C |
|
|
|
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PAN No.: [Permanent Account No.] |
AAACC8966G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Trader and Dealer of Telecommunication Equipments, Components and
Accessories. |
|
|
|
|
No. of Employees
: |
Information declined by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 704000 |
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|
|
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and healthy.
Profitability of the company is fair. 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.
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term fund based facilities: “BBB-” |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
August, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term non-fund based facilities: “A3” |
|
Rating Explanation |
Moderate degree of safety and high credit risk. |
|
Date |
August, 2013 |
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 DECLINED
MANAGEMENT
NON-COOPERATIVE (Tel. No.: 91-22-25201210)
LOCATIONS
|
Registered/ Corporate Office : |
23 White Castle, 34-35, Union Park, Sion-Trombe Road, Chembur, Mumbai
- 400071, Maharashtra, India |
|
Tel. No.: |
91-22-25201210/ 61414000 |
|
Fax No.: |
91-22-25201220/ 30 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 sq. ft. |
|
Location: |
Owned |
|
|
|
|
Convergence Centre : |
RICC, B 3 and B 4, Incubation Centre, Plot No. Gen-2/1/B, D Block,
MIDC TTC, Juinagar, Navi Mumbai - 400701, |
|
Tel. No.: |
91-22-67734100/ 25201210 |
|
Fax No.: |
91-22-67734141/ 25201220 |
|
|
|
|
International Office : |
Sharjah, U.A.E. P6-048, Saif-Zone, Tel. No.: 971 6 5573038 Fax No.: 971 6 5573039 Park Ten Energy Corridor 1400 Broadfield Boulevard, Suite
200 PMB 16 Tel. No.: 1 972 672 7140 |
|
|
|
|
Regional Office : |
Located at: ·
Vadodara Kolkata |
DIRECTORS
As on 18.09.2013
|
Name : |
Mr. Shriprakash Ramshringar Pandey |
|
Designation : |
Chairman cum Managing director |
|
Address : |
101, Onyx, Plot No. 36, |
|
Date of Birth/Age : |
19.10.1969 |
|
Qualification : |
BE (Electronics), DE (Electronics and Communications), AMP (ISB and
Kellogg) |
|
Experience : |
22 Years |
|
Date of Appointment : |
31.07.1998 |
|
DIN No.: |
00032655 |
|
|
|
|
Name : |
Mr. Satish Govindan Kutty Pookulangara |
|
Designation : |
Director |
|
Address : |
A/15, Munjal Nagar No. 2, Chembur, Mumbai - 400089, |
|
Date of Birth/Age : |
21.01.1968 |
|
Date of Appointment : |
15.01.2006 |
|
DIN No.: |
00032327 |
|
|
|
|
Name : |
Mr. Dinesh Ramshringar Pandey |
|
Designation : |
Director |
|
Address : |
101, Onyx, Plot No. 36, |
|
Date of Birth/Age : |
06.04.1974 |
|
Date of Appointment : |
02.08.2001 |
|
DIN No.: |
00032707 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 18.09.2013
|
Names of Equity Shareholders |
No. of Shares |
|
Shriprakash R. Pandey |
1424100 |
|
Saseendran R. K. |
110000 |
|
Satish P. G. |
319750 |
|
Total |
1853850 |
|
Names of Preference Shareholders |
No. of Shares |
|
Satish G. Pookulangara |
75000 |
|
Shriprakash R. Pandey |
25000 |
|
Total |
100000 |
As on 18.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
94.07 |
|
Other top fifty shareholders |
5.93 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Dealer of Telecommunication Equipments, Components and
Accessories. |
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|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by management |
|||||||||||||||||||||||||||
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Bankers : |
· Citibank N. A., Trent House, 2nd Floor, G Block, Plot No.C60, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India IDBI Bank Limited, Indian Red Cross Society Bldg 1, Red
Cross Road, Delhi - 110001, India Standard Chartered Bank, Sme Credit, Crescenzo, 3a/F, Plot
No. C-38 & 39, G Block, Bandra Kurla Complex, Bandra East, Mumbai -
400051, Maharashtra, India |
|||||||||||||||||||||||||||
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Facilities : |
|
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Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
R S Chhabra and Company Chartered Accountants |
|
Address : |
I-C/4 Narendra Park, Naya Nagar, Miraroad (East), Thane – 401107, Maharashtra, India |
|
Tel. No. : |
91-22-28110445 |
|
Mobile No. : |
91-9821021396 |
|
Income-tax
PAN of auditor or auditor's firm : |
ACDPC6252D |
|
|
|
|
Subsidiary
Company : |
· Commtel Networks (FZE) Commtel Technix Private Limited |
|
|
|
|
Concerns in which the company or key management personnel or relatives
thereof have controlling interest : |
· Commtel Mediaworks Private Limited United Commtel LLC – Joint Venture (Upto 31st
March 2012) |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1900000 |
Equity Shares |
Rs. 10/- each |
Rs. 19.000 Millions |
|
100000 |
Preference Shares |
Rs. 10/- each |
Rs. 1.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 20.000 Millions
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1853850 |
Equity Shares |
Rs. 10/- each |
Rs. 18.539
Millions |
|
100000 |
Preference Shares |
Rs. 10/- each |
Rs. 1.000
Million |
|
|
|
|
|
|
|
Total |
|
Rs. 19.539 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 |
19.539 |
19.539 |
16.845 |
|
(b) Reserves & Surplus |
156.473 |
119.802 |
123.213 |
|
(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) |
176.012 |
139.341 |
140.058 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term Borrowings |
53.547 |
59.257 |
37.783 |
|
(b) Deferred Tax Liabilities (Net) |
46.349 |
35.442 |
22.792 |
|
(c) Other Long Term Liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term Provisions |
2.209 |
1.242 |
0.676 |
|
Total Non-current Liabilities (3) |
102.105 |
95.941 |
61.251 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short Term Borrowings |
122.913 |
131.755 |
94.703 |
|
(b) Trade Payables |
110.869 |
109.177 |
98.152 |
|
(c) Other Current
Liabilities |
33.195 |
44.648 |
31.526 |
|
(d) Short-term Provisions |
7.185 |
0.141 |
7.500 |
|
Total Current Liabilities (4) |
274.162 |
285.721 |
231.881 |
|
|
|
|
|
|
TOTAL |
552.279 |
521.003 |
433.190 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible Assets |
38.636 |
40.765 |
37.178 |
|
(ii) Intangible Assets |
22.683 |
26.860 |
0.232 |
|
(iii) Capital
Work-in-Progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under Development |
0.000 |
0.000 |
11.974 |
|
(b) Non-current Investments |
1.862 |
1.862 |
1.862 |
|
(c) Deferred Tax Assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
16.489 |
15.853 |
10.498 |
|
(e) Other Non-current Assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
79.670 |
85.340 |
61.744 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current Investments |
0.000 |
0.000 |
55.990 |
|
(b) Inventories |
112.405 |
105.073 |
46.176 |
|
(c) Trade Receivables |
309.425 |
278.316 |
242.414 |
|
(d) Cash and Cash
Equivalents |
31.446 |
30.578 |
20.056 |
|
(e) Short-term Loans and
Advances |
15.729 |
20.301 |
4.624 |
|
(f) Other Current Assets |
3.604 |
1.395 |
2.186 |
|
Total Current Assets |
472.609 |
435.663 |
371.446 |
|
|
|
|
|
|
TOTAL |
552.279 |
521.003 |
433.190 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
692.389 |
607.566 |
|
|
|
Other Income |
|
NA |
2.417 |
|
|
|
TOTAL |
|
NA |
609.983 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
92.455 |
88.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
EXCEPTIONAL AND EXTRAORDINARY ITEMS AND TAX |
|
56.070 |
49.509 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
10.000 |
0.000 |
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Project and other services |
|
16.046 |
NA |
|
|
|
Value of exports (FOB) |
|
278.384 |
NA |
|
|
TOTAL EARNINGS |
|
294.430 |
NA |
|
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
|
|
473.928 |
|
|
|
Other Income |
|
|
NA |
|
|
|
TOTAL |
|
|
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
|
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
|
67.279 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
45.024 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
9.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
35.124 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
|
20.000 |
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Project and other services |
|
|
2.792 |
|
|
|
Value of exports (FOB) |
|
|
6.790 |
|
|
TOTAL EARNINGS |
|
|
9.582 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
19.18 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
9.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
NA |
10.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
NA |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.00 |
1.37 |
0.95 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.72 |
1.52 |
1.60 |
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 |
16.845 |
19.539 |
19.539 |
|
Reserves & Surplus |
123.213 |
119.802 |
156.473 |
|
Net
worth |
140.058 |
139.341 |
176.012 |
|
|
|
|
|
|
long-term borrowings |
37.783 |
59.257 |
53.547 |
|
Short term borrowings |
94.703 |
131.755 |
122.913 |
|
Total
borrowings |
132.486 |
191.012 |
176.460 |
|
Debt/Equity
ratio |
0.946 |
1.371 |
1.003 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current Maturities of Long Term Debts |
15.486 |
15.821 |
17.467 |
|
|
|
|
|
|
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
one year |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
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 |
10482890 |
26/02/2014 |
250,000,000.00 |
IDBI BANK LIMITED |
INDIAN RED CROSS SOCIETY BLDG 1, RED CROSS ROAD, |
B98585359 |
|
2 |
10337033 |
22/02/2012 |
7,000,000.00 |
STANDARD CHARTERED BANK |
SME CREDIT, CRESCENZO, 3A/F, PLOT NO. C-38 & 39, |
B32731481 |
|
3 |
10280255 |
19/04/2011 |
50,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
11-13, FIRST FLOOR, 209, VINAY K. SHAH MARG, ATLA |
B10498889 |
|
4 |
10117773 |
14/11/2011 * |
165,000,000.00 |
STANDARD CHARTERED BANK |
SME CREDIT, CRESCENZO, 3A/F, PLOT NO. C-38 & 39, |
B27446624 |
|
5 |
80047347 |
03/01/2012 * |
240,000,000.00 |
CITIBANK N. A. |
TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60, BAN |
B33079013 |
|
6 |
90146209 |
28/08/2003 * |
8,000,000.00 |
ICICI BANK |
BANDARA KURALA COMPLEX, G BLOCK BANDRA, MUMBAI, MAHARASHTRA - 400051, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loan obtained from related party is on long term basis |
12.686 |
3.062 |
|
Total |
12.686 |
3.062 |
FINANCIALS AND
OPERATIONS
The revenue from the operations of the company on a standalone basis in FY 2012-13 has grown by 14% as compared to the preceding year. The PBIDTA and PBT saw a jump of above 5% and 13% respectively as compared to the preceding financial year. Details of the company operations and performance have been provided in the preceding section of this director’s report.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Bank Guarantees/ SBLC issued for the purpose of performance of contractual obligation |
205.784 |
118.590 |
|
Disputed income tax liabilities |
0.000 |
1.345 |
|
Disputed sales tax liabilities |
0.069 |
0.069 |
|
Total |
205.853 |
120.005 |
FIXED ASSETS
· Staff Quarters
Test
Equipment’s
Computers
and Printers
Computer
Software
EPBAX
and Telephone Instruments
Office
Equipment’s
Vehicles
Furniture
and Fixtures
Computer
Software
MSTP
Development Project
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.59.99 |
|
|
1 |
Rs.101.75 |
|
Euro |
1 |
Rs.83.48 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.