MIRA
INFORM REPORT
|
Report Date : |
22.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
REMI PROCESS PLANT AND MACHINERY LIMITED |
|
|
|
|
Registered
Office : |
REMI House, Plot No.11, Cama Industrial Estate, Goregaon (East),
Mumbai – 400 063, Maharashtra |
|
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|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
13.08.1974 |
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|
|
|
Com. Reg. No.: |
11-017683 |
|
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|
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Capital
Investment / Paid-up Capital : |
Rs.17.600
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L28920MH1974PLC017683 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR14104G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR0409H |
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|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
|
Line of Business
: |
Subject is mainly engaged in the design and manufacture of different types of agitators. |
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|
|
|
No. of Employees
: |
Information declined by the management |
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 70000 |
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|
|
Status : |
Satisfactory |
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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 is good. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. Note: Company’s shares are not traded on BSE from last 30 days. |
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 DECLINED
Management Non Co-operative (91-22-26851998)
LOCATIONS
|
Registered Office : |
REMI House, Plot
No.11, Cama Industrial Estate, Goregaon (East), Mumbai – 400 063, |
|
Tel. No.: |
91-22-26851998/ 40589888/ 800 |
|
Fax No.: |
91-22-26853868/ 66993507 |
|
E-Mail : |
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|
Website : |
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Factory : |
Survey No.18 1/2
and 27/2, Village - Shelavali, Manor Road, Taluka Palghar, Thane – 401 404,
Maharashtra, India |
|
Tel. No.: |
9525-25605090/ 91 |
|
Fax No.: |
9525-25256675 |
|
E-Mail : |
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|
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Wind Power: |
Village Brahmanwel, Taluka Sakri, District Dhule,
Maharashtra, India |
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Branch Office : |
Located At · Ahmedabad · Bengaluru · Chennai · Hyderabad · Nagpur · Kolkata · New Delhi |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Vishwambhar C. Saraf |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Shri Rajendra C. Saraf |
|
Designation : |
Managing Director |
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|
|
|
Name : |
Mr. Ramkrishna Shriya |
|
Designation : |
Director |
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|
|
|
Name : |
Mr. Mukul B, Desai |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Rishabh R. Saraf |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Detlef Ernst Hans Klatt |
|
Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2014
|
Category of Shareholders |
No. of Shares |
Percentage of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1178050 |
66.93 |
|
|
1178050 |
66.93 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
1178050 |
66.93 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
451000 |
25.63 |
|
|
|
|
|
|
4950 |
0.28 |
|
|
126000 |
7.16 |
|
|
126000 |
7.16 |
|
|
581950 |
33.07 |
|
Total Public shareholding (B) |
581950 |
33.07 |
|
Total (A)+(B) |
1760000 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
1760000 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is mainly engaged in the design and manufacture of different types of agitators. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
State Bank of India |
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Facilities : |
(Rs.
In Millions)
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|
|
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Banking
Relations : |
--- |
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Auditors : |
|
|
Name : |
Shankarlal Jain and Associates Chartered Accountants |
|
Address : |
12, |
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|
|
|
Associate
Concerns : |
· Remi Edelstahl Tubulars Limited ·
Remi Elektrotechnik Limited |
|
|
|
|
Relatives of key
management personnel and their enterprises where transactions have taken
place: |
· Rajendra Electrical Motor Industries · Dholishakti International ·
Remi International |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1800000 |
Equity Shares |
Rs.10/- each |
Rs.18.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1760000 |
Equity Shares |
Rs.10/- each |
Rs.17.600 Millions |
|
|
|
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|
(a) Terms/ Rights Attached to Equity Shares:
The company has only one class of equity shares having par value of Rs. 10. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing annual general meeting.
(b) During the year ended 31st March 2013, the amount of per share dividend recognised as distributions to equity shareholders was Rs.0.60 (31st March 2012 Rs.0.60).
(c) In the event of liquidation of the company, the holders of the equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
(d) Details of Shareholders Holding more than 5% Shares of the Company:
|
Name of the
Shareholder |
No. of shares |
|
Rishabh R. Saraf |
124800 |
|
Rajendra Chiranjilal H.U.F. |
127200 |
|
Vishwambhar Chiranjilal H.U.F. |
135200 |
|
Minakshi R. Saraf |
156000 |
|
Vandana V. Saraf |
260000 |
|
Shruti R. Saraf |
286400 |
|
Fulidevi Saraf Family Trust |
126000 |
|
Dholishakti Enterprises Private Limited |
20000 |
|
Lakshminarayan Realfinvent Limited |
209000 |
|
Hanuman Forging And Engineering Private Limited |
220000 |
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 |
17.600 |
17.600 |
17.600 |
|
(b) Reserves & Surplus |
110.008 |
97.226 |
85.922 |
|
(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) |
127.608 |
114.826 |
103.522 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
9.695 |
9.765 |
9.708 |
|
(c) Other long term liabilities |
13.578 |
13.360 |
12.262 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
23.273 |
23.125 |
21.970 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
45.623 |
37.102 |
28.675 |
|
(b) Trade payables |
30.709 |
12.287 |
26.953 |
|
(c) Other current
liabilities |
69.676 |
54.703 |
30.834 |
|
(d) Short-term provisions |
4.036 |
3.438 |
4.136 |
|
Total Current Liabilities (4) |
150.044 |
107.530 |
90.598 |
|
|
|
|
|
|
TOTAL |
300.925 |
245.481 |
216.090 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
82.868 |
87.284 |
89.179 |
|
(ii) Intangible Assets |
0.542 |
0.722 |
0.608 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.192 |
2.120 |
2.126 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
85.602 |
90.126 |
91.913 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
85.000 |
47.500 |
54.500 |
|
(b) Inventories |
46.991 |
47.003 |
29.538 |
|
(c) Trade receivables |
64.001 |
7.073 |
25.265 |
|
(d) Cash and cash
equivalents |
4.659 |
7.564 |
6.374 |
|
(e) Short-term loans and
advances |
14.432 |
45.566 |
8.352 |
|
(f) Other current assets |
0.240 |
0.649 |
0.148 |
|
Total Current Assets |
215.323 |
155.355 |
124.177 |
|
|
|
|
|
|
TOTAL |
300.925 |
245.481 |
216.090 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
297.538 |
168.341 |
158.994 |
|
|
|
Other Income |
18.640 |
28.067 |
12.786 |
|
|
|
TOTAL (A) |
316.178 |
196.408 |
171.780 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
85.455 |
70.944 |
56.982 |
|
|
|
Purchases of Stock-in-Trade |
105.059 |
41.418 |
29.195 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
11.902 |
(15.504) |
(2.645) |
|
|
|
Employees benefits expense |
35.637 |
34.985 |
32.961 |
|
|
|
Other expenses |
44.356 |
33.679 |
36.488 |
|
|
|
TOTAL (B) |
282.409 |
165.522 |
152.981 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
33.769 |
30.886 |
18.799 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.233 |
5.199 |
4.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
28.536 |
25.687 |
13.899 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
8.060 |
6.539 |
0.760 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
20.476 |
19.148 |
13.139 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.282 |
6.424 |
4.268 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
14.194 |
12.724 |
8.871 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
43.738 |
37.241 |
34.601 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
5.000 |
5.000 |
5.000 |
|
|
|
Dividend |
1.056 |
1.056 |
1.056 |
|
|
|
Tax on Dividend |
0.180 |
0.171 |
0.175 |
|
|
BALANCE CARRIED
TO THE B/S |
51.696 |
43.738 |
37.241 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
0.218 |
14.809 |
6.157 |
|
|
TOTAL EARNINGS |
0.218 |
14.809 |
6.157 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
17.871 |
26.140 |
39.060 |
|
|
TOTAL IMPORTS |
17.871 |
26.140 |
39.060 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.06 |
7.23 |
5.04 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.49 |
6.48 |
5.16 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.88 |
11.37 |
8.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.80 |
7.80 |
6.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.17 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.36 |
0.32 |
0.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.44 |
1.44 |
1.37 |
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 |
17.600 |
17.600 |
17.600 |
|
Reserves & Surplus |
85.922 |
97.226 |
110.008 |
|
Net
worth |
103.522 |
114.826 |
127.608 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
28.675 |
37.102 |
45.623 |
|
Total
borrowings |
28.675 |
37.102 |
45.623 |
|
Debt/Equity
ratio |
0.277 |
0.323 |
0.358 |
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) |
|
Sales |
158.994 |
168.341 |
297.538 |
|
|
|
5.879 |
76.747 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
158.994 |
168.341 |
297.538 |
|
Profit |
8.871 |
12.724 |
14.194 |
|
|
5.58% |
7.56% |
4.77% |
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 |
No |
|
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 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 |
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 |
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 |
CONTINGENT
LIABILITIES NOT PROVIDED FOR: (As on 31.03.2013)
a) Guarantees given by the Bankers on behalf of the Company Rs.8.790 Millions (P.Y. Rs.7.660 Millions).
b) Letters of Credit Rs.1.572 Millions (P.Y. Rs.21.643 Millions)
c) Sales Tax demands disputed in appeals Rs.0.013 Million (P.Y. Rs.0.063 Million).
d) Liability in respect of Lease rent including interest thereon disputed by the Company Rs.23.487 Millions (P.Y. Rs.23.487 Millions)
e) Demand of Excise Duty and penalty disputed in appeal Rs.0.020 Million (P.Y. Rs. NIL)
f) Bills discounting of Rs.8.859 Millions (P.Y. Rs.1.797 Millions)
g) Show cause notice in respect of excise duty amounting to Rs.0.524 Millions (P.Y Rs. NIL)
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10021488 |
01/03/2011 * |
217,200,000.00 |
State Bank of India |
Industrial Finance Branch, 2nd Floor, The Arcade, |
B08596090 |
|
2 |
90241842 |
01/03/2011 * |
50,000,000.00 |
State Bank of India |
Industrial Finance Branch, 2nd Floor, The Arcade, |
B08596140 |
* Date of charge modification
FIXED ASSETS
· Land
· Factory Building
· Plant and Machinery
· Computers
· Office Equipment
· Wind Mill
· Electrical Instalation
· Air Conditioners
· Furniture and Fixture
· Vehicles
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.58.77 |
|
|
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.80.57 |
INFORMATION DETAILS
|
Information Gathered
by : |
HET |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NTH |
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 |
YES |
|
--LISTED |
YES/NO |
YES |
|
--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.