MIRA
INFORM REPORT
|
Report Date : |
15.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
GEM PAINTS LIMITED |
|
|
|
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Registered
Office : |
417/418, 11th Cross, 4th Phase Peenya Industrial
Area, Bangalore – 560058, Karnataka |
|
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|
Country : |
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|
Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
24.01.1980 |
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|
|
|
Com. Reg. No.: |
08-003715 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.19.993 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24220KA1980PLC003715 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG5035A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Trader of all types of Paints. |
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|
|
|
No. of Employees
: |
240 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (63) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 2600000 |
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|
|
|
Status : |
Good |
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|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track. Financial position of the company seems to be sound. Trade relations are reported to be fair. Business is active. Payment
terms are reported tom be regular and as per commitment. The company can be considered for normal 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
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.
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. Srinivasa Rao V. |
|
Designation : |
Accountant |
|
Contact No.: |
91-80-42552555 |
|
Date : |
13.05.2014 |
LOCATIONS
|
Registered Office : |
417/418, 11th Cross, 4th Phase Peenya Industrial
Area, Bangalore – 560058, Karnataka, India |
|
Tel. No.: |
91-80-42552555 |
|
Mobile No.: |
91-9731155566 (Mr. Nalin Gandotra) |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Factory : |
Subject have 5
Factories 1] Dobas Peth Industrial area 2] Nelamngalam 3] Other 3 is in Peenya Industrial Area |
|
|
|
|
Branch Office: |
Located at : · Tamilnadu · Karnataka · Kerala |
DIRECTORS
(AS ON 30.09.2013)
|
Name : |
Mr. Pratibha Gandotra |
|
Designation : |
Whole-time director |
|
Address : |
1265, 11 Cross, 9th Main, W.C.R. 2nd Stage,
Mahalakshmipuram, Bangalore – 560086, Karnataka, India |
|
Date of Birth/Age : |
11.01.1955 |
|
Date of Appointment : |
25.02.1981 |
|
PAN No.: |
AGOPG9481D |
|
DIN No.: |
00049324 |
|
|
|
|
Name : |
Mr. Anand Sarup Gandotra |
|
Designation : |
Managing Director |
|
Address : |
1265, 11 Cross, 9th Main, W.C.R. 2nd Stage, Mahalakshmipuram,
Bangalore – 560086, Karnataka, India |
|
Date of Birth/Age : |
17.08.1946 |
|
Date of Appointment : |
24.01.1980 |
|
PAN No.: |
ACQPG1358P |
|
DIN No.: |
00049342 |
|
|
|
|
Name : |
Mr. Nalin Gandotra |
|
Designation : |
Whole-time director |
|
Address : |
1265, 11 Cross, 9th Main, W.C.R. 2nd Stage,
Mahalakshmipuram, Bangalore – 560086, Karnataka, India |
|
Date of Birth/Age : |
25.06.1980 |
|
Date of Appointment : |
16.05.2005 |
|
DIN No.: |
00049362 |
|
|
|
|
Name : |
Mr. Ashwani Gandotra |
|
Designation : |
Whole-time director |
|
Address : |
1763, 8th Cross, 6th A Main, Near Pavan Garden
R. P. C. Layout, Vijayanagar, Bangalore – 560040, Karnataka, India |
|
Date of Birth/Age : |
14.12.1960 |
|
Date of Appointment : |
16.05.2005 |
|
PAN No.: |
ACQPG1359N |
|
DIN No.: |
00049386 |
|
|
|
|
Name : |
Ms. Payal Thatte |
|
Designation : |
Whole-time director |
|
Address : |
1265, 11 Cross, 9th Main, W.C.R. 2nd Stage,
Mahalakshmipuram, Bangalore – 560086, Karnataka, India |
|
Date of Birth/Age : |
18.12.1981 |
|
Date of Appointment : |
25.05.2007 |
|
PAN No.: |
AGOPG9480C |
|
DIN No.: |
01518061 |
|
|
|
|
Name : |
Mr. Nitin Gandotra |
|
Designation : |
Whole-time director |
|
Address : |
No.1265, 11 Cross, 9th Main, W.C.R. 2nd Stage, Mahalakshmipuram,
Bangalore – 560086, Karnataka, India |
|
Date of Birth/Age : |
10.03.1986 |
|
Date of Appointment : |
30.09.2009 |
|
PAN No.: |
AJHPG7860L |
|
DIN No.: |
02591037 |
KEY EXECUTIVES
|
Name : |
Mr. Srinivasa Rao V. |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2013)
|
Name of
Shareholders |
|
No of
Shares |
|
|
|
|
|
Anand Sarup Gandotra |
|
106228 |
|
Pratibha Gandotra |
|
48218 |
|
Ashwani Gandotra |
|
14324 |
|
Anand Sarup Gandotra (HUF) |
|
2435 |
|
Nalin Gandotra |
|
8725 |
|
Nitin Gandotra |
|
10000 |
|
Payal Thatte |
|
10000 |
|
|
|
|
|
Total
|
|
199930 |
(AS ON 30.09.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
98.78 |
|
Other top fifty shareholders |
|
1.22 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of all types of Paints. |
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Products : |
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Exports : |
Not Divulged |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
· China · Sweden · Thailand · Australia · Singapore · Saudi Arabia |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
240 (Approximately) |
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Bankers : |
· State Bank of Mysore Head Office Ground Floor, Kempe Gowda Road, Bangalore – 560009,
Karnataka, India · Canara Bank Tumkur Road Branch, Yeshwantpur, Bangalore – 560022, Karnataka, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
J. Nitish and Associates Chartered Accountants |
|
Address : |
1/1 Radha Krishna
Complex, 2nd Floor, 80 feet Road, VI Block, Rajajinagar, Banaglore
- 560010, Karnataka, India |
|
PAN No.: |
AGKPN4626M |
CAPITAL STRUCTURE
(AS ON 30.09.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
199930 |
Equity Shares |
Rs.100/- each |
Rs.19.993
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 |
19.993 |
19.993 |
19.993 |
|
(b) Reserves & Surplus |
638.409 |
527.078 |
447.797 |
|
(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) |
658.402 |
547.071 |
467.790 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
9.692 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
2.430 |
2.174 |
2.312 |
|
(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) |
12.122 |
2.174 |
2.312 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
21.189 |
1.290 |
|
(b) Trade payables |
59.581 |
50.093 |
71.474 |
|
(c) Other current
liabilities |
13.314 |
13.314 |
11.141 |
|
(d) Short-term provisions |
62.124 |
47.565 |
40.544 |
|
Total Current Liabilities (4) |
135.019 |
132.161 |
124.449 |
|
|
|
|
|
|
TOTAL |
805.543 |
681.406 |
594.551 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
135.056 |
139.693 |
118.934 |
|
(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 |
0.030 |
0.030 |
0.030 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.996 |
0.995 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
135.086 |
140.719 |
119.959 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
119.607 |
82.111 |
86.053 |
|
(c) Trade receivables |
147.253 |
125.214 |
103.871 |
|
(d) Cash and cash
equivalents |
323.412 |
277.526 |
205.847 |
|
(e) Short-term loans and
advances |
80.185 |
55.836 |
78.821 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
670.457 |
540.687 |
474.592 |
|
|
|
|
|
|
TOTAL |
805.543 |
681.406 |
594.551 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
924.870 |
854.520 |
820.664 |
|
|
|
Other Income |
27.050 |
19.933 |
13.794 |
|
|
|
TOTAL (A) |
951.920 |
874.453 |
834.458 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost
of Materials Consumed |
631.470 |
602.388 |
537.840 |
|
|
|
Changes
in inventories of finished goods, work-in-progress and stock-in-trade |
(14.608) |
2.788 |
(15.970) |
|
|
|
Employee
Benefit Expense |
41.371 |
35.271 |
33.352 |
|
|
|
Other
expenses |
101.844 |
87.479 |
158.118 |
|
|
|
Exceptional
items |
0.000 |
0.909 |
0.218 |
|
|
|
TOTAL (B) |
760.077 |
728.835 |
713.558 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
191.843 |
145.618 |
120.900 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.636 |
0.778 |
0.370 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
191.207 |
144.840 |
120.530 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17.496 |
18.133 |
15.293 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
173.711 |
126.707 |
105.237 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
56.571 |
41.618 |
35.010 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
117.140 |
85.089 |
70.227 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
17.371 |
12.761 |
10.545 |
|
|
|
Proposed Dividend |
4.998 |
4.998 |
4.998 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
544.703 |
450.743 |
384.224 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
59.093 |
59.045 |
41.435 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
585.91 |
425.60 |
351.26 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
1250.000 |
The above information has been parted by Mr. Srinivasa Rao V.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
12.31 |
9.73 |
8.42 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
18.78 |
14.83 |
12.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.57 |
18.60 |
17.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.23 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.01 |
0.04 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.97 |
4.09 |
3.81 |
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 |
19.993 |
19.993 |
19.993 |
|
Reserves & Surplus |
447.797 |
527.078 |
638.409 |
|
Net worth |
467.790 |
547.071 |
658.402 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
9.692 |
|
Short term borrowings |
1.290 |
21.189 |
0.000 |
|
Total borrowings |
1.290 |
21.189 |
9.692 |
|
Debt/Equity ratio |
0.003 |
0.039 |
0.015 |
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 |
820.664 |
854.520 |
924.870 |
|
|
|
4.125 |
8.233 |
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 |
820.664 |
854.520 |
924.870 |
|
Profit |
70.227 |
85.089 |
117.140 |
|
|
8.56% |
9.96% |
12.67% |
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 four years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
----- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm / promoter
involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
NOTE:
The Registered office of the company has been
shifted from Door No.403/404, Rajajinagar, 1st Block, Plaz
Corporate, Bengaluru – 560086, Karnataka, India, to the present address w.e.f.
01.047.2009.
BUSINESS
OPERATIONS OVERVIEW AND OUTLOOK
The company depicted
considerable stability in its performance during the year that can be
attributed to focused operations excellence, quality, innovation and working
closely with the customers to provide product solutions that meet their
specific requirements. The enhanced sales of the Company’s products conforming
to international standards are a clear affirmation of the company’s channel
initiatives that are implemented in all focal areas of operation to create an
efficient and robust system of operation.
The company is poised to
embark on the challenges and the market opportunities offered by the current
environment and will emerge and stay focused on the Company’s vision to be the
most innovative enterprise. The importance of team work and the company’s core
values have helped the organization to tide over the challenges posed by
competitive environment.
The Directors are confident
of further improving the performance of the company by implementation of
conservative operating plans for then year ahead with continued focus on cost
management to meet the challenges posed by the competitive business
environment.
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge Creation/ Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
90191286 |
07/04/1997 * |
220,000.00 |
STATE BANK OF INDIA |
BANGALORE BRANCH,
BANGALORE, KARNATAKA, INDIA |
- |
|
2 |
80063347 |
25/02/1992 |
3,800,000.00 |
STATE BANK OF MYSORE |
KG ROAD, BANGALORE,
KARNATAKA - 560009, INDIA |
- |
|
3 |
90190844 |
15/06/2012 * |
30,000,000.00 |
STATE BANK OF MYSORE |
HEAD OFFICE GROUND FLOOR,
KEMPE GOWDA ROAD, BANGALORE, KARNATAKA - 560009, INDIA |
B42746818 |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Building
·
Office Building
·
Factory Building
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Motor vehicles
·
Office Equipment
·
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.59.88 |
|
|
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
63 |
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.