MIRA
INFORM REPORT
|
Report Date : |
26.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
WEST COAST FINE FOODS (INDIA) PRIVATE LIMITED [w.e.f. 13.04.2011] |
|
|
|
|
Formerly Known
As : |
ALLIANCE FOODS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
3rd Floor, Victor House, 142/C, N.M. Joshi Marg, Lower
Parel (West), Mumbai-400013, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
27.03.2007 |
|
|
|
|
Com. Reg. No.: |
11-169210 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.24.350
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15122MH2007PTC169210 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA30023A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCA2676P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Distributor
of Frozen Food Products and Sea Food. |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 570000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The company possesses a favourable financial profile characterized by
wiping of its accumulated losses resulting in adequate networth base along
with working capital intensive operations during FY 2013. Management has reported an improvement in its sales volume as well as
net profitability during the year under review. The ratings also take into consideration the adverse climatic
conditions, government regulations and competition from substitutes. Trade relations are fair. Business is active. Payment terms are
reported as slow but correct. In view of strong track record of the promoters and being a part of
the WCG Group, the subject can be considered for business dealings with some
caution. |
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 |
CRISIL |
|
Rating |
BB+ [Long Term] |
|
Rating Explanation |
Have moderate risk of default. |
|
Date |
15.01.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A4+ [Short Term] |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
15.01.2014 |
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 DENIED BY
|
Name : |
Mr. Hariom and Mr. Jeevan |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-22822026 |
|
Date : |
24.05.2014 |
LOCATIONS
|
Registered / Head Office : |
3rd Floor, Victor House, 142/C, N.M. Joshi Marg, Lower
Parel (West), Mumbai-400013, Maharashtra, India |
|
Tel. No.: |
91-22-22822026 |
|
Fax No.: |
91-22-22831435 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
133-C, Mittal Towers, Nariman Point, Mumbai-400021, Maharashtra, India
|
|
|
|
|
Regional Office : |
NEW DELHI: X-1, Okhala Industrial Area, Phase-2, New Delhi-110020, India Tel No.: 91-11-26389192 Email: care@cambaytiger.in BANGALORE: 23 Hare Krishna Road, High Ground, Bangalore-560001, Karnataka, India Tel No.: 91-80-22340834 Email: care@cambaytiger.in |
DIRECTORS
AS ON 27.09.2013
|
Name : |
Mr. Kamlesh Nemichand Gupta |
|
Designation : |
Managing Director |
|
Address : |
59 Mount Unique, 8th Floor, 62/A, Peddar Road,
Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
08.12.1968 |
|
Date of Appointment : |
27.03.2007 |
|
Din No.: |
01443672 |
|
|
|
|
Name : |
Mrs. Mridula Kamlesh Gupta |
|
Designation : |
Director |
|
Address : |
59 Mount Unique, 8th Floor, 62/A, Peddar Road,
Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
28.09.1969 |
|
Date of Appointment : |
27.03.2007 |
|
Din No.: |
00203463 |
|
|
|
|
Name : |
Ms. Shweta Sachin Vakil |
|
Designation : |
Director |
|
Address : |
602-C, Wing Tulip Apartments, Asha Nagar, P.K. Road, Mulund (West),
Mumbai-400080, Maharashtra, India |
|
Date of Birth/Age : |
05.11.1976 |
|
Date of Appointment : |
02.04.2012 |
|
Din No.: |
03034613 |
|
|
|
|
Name : |
Mr. Rahul Chandrakant Kulkarni |
|
Designation : |
Director |
|
Address : |
802, Building 29, Seawoods Estate, Palm Beach Road, Nerul, New
Mumbai-400708, Maharashtra, India |
|
Date of Birth/Age : |
02.12.1972 |
|
Date of Appointment : |
04.01.2010 |
|
Din No.: |
00158858 |
|
|
|
|
Name : |
Mr. Manish Janardan Shinde |
|
Designation : |
Director |
|
Address : |
3C/602, Eden Rose CHS Limited, Beverly Park, Opposite Cinemax, Mira
Road (East), Thane-401107, Maharashtra, India |
|
Date of Birth/Age : |
10.09.1969 |
|
Date of Appointment : |
04.01.2010 |
|
Din No.: |
03048998 |
|
|
|
|
Name : |
Mr. Shivam Kamlesh Gupta |
|
Designation : |
Director |
|
Address : |
59 Mount Unique, 8th Floor, 62/A, Peddar Road,
Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
31.07.1991 |
|
Date of Appointment : |
11.06.2012 |
|
Din No.: |
05152508 |
MAJOR SHAREHOLDERS
AS ON 27.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Kamlesh Nemichand Gupta |
25000 |
0.75 |
|
Mridula Kamlesh Gupta |
25000 |
0.75 |
|
Arabian Seafoods Inc. |
460000 |
13.79 |
|
West Coast Water Base Private Limited, India |
2825000 |
84.71 |
|
Total |
3335000 |
100.00 |
%20PRIVATE%20LIMITED%20-%20268963_MIRA%2026-May-2014_files/image002.gif)
Equity Share Break up (Percentage of Total Equity)
AS ON 27.09.2013
|
Category |
Percentage |
|
Bodies corporate |
97.95 |
|
Directors or relatives of Directors |
2.05 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributor
of Frozen Food Products and Sea Food. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
Bank of Baroda,
Gamdevi Branch, Geeta Building, Pandita Ramabai Road, Gamdevi, Mumbai – 400007,
Maharashtra, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chandabhoy and Jassoobhoy Chartered Accountants |
|
Address : |
208, Phoenix House, A Wing, 462, Senapati Bapat Marg, Lower Parel,
Mumbai – 400013, Maharashtra, India |
|
PAN No.: |
AAAFC5274C |
|
|
|
|
Holding Company : |
West Coast Water Base Private Limited |
|
|
|
|
Associates : |
·
West Coast Frozen Foods Private Limited ·
Arabian Seafoods Inc. ·
Fortune Aqua ·
Dash Marine Products Private Limited ·
Shivsmaran Charitable Trust |
CAPITAL STRUCTURE
AS ON 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3335000 |
Equity Shares |
Rs.10/- each |
Rs.33.350 Millions |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2435000 |
Equity Shares |
Rs.10/- each |
Rs.24.350 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 |
24.350 |
5.750 |
5.750 |
|
(b) Reserves & Surplus |
29.844 |
(38.668) |
(39.373) |
|
(c) Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
90.000 |
141.000 |
51.000 |
|
Total Shareholders’ Funds (1) + (2) |
144.194 |
108.082 |
17.377 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.980 |
1.053 |
|
(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) |
0.000 |
0.980 |
1.053 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
151.381 |
78.805 |
47.041 |
|
(b) Trade payables |
28.974 |
10.174 |
2.277 |
|
(c) Other current
liabilities |
18.354 |
11.779 |
4.398 |
|
(d) Short-term provisions |
6.333 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
205.042 |
100.758 |
53.716 |
|
|
|
|
|
|
TOTAL |
349.236 |
209.820 |
72.146 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
19.158 |
14.838 |
10.562 |
|
(ii) Intangible Assets |
0.254 |
0.225 |
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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
8.740 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.409 |
1.800 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
2.320 |
|
Total Non-Current Assets |
29.561 |
16.863 |
12.882 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
52.265 |
27.708 |
15.890 |
|
(c) Trade receivables |
220.143 |
121.180 |
28.237 |
|
(d) Cash and cash
equivalents |
20.213 |
10.117 |
2.550 |
|
(e) Short-term loans and
advances |
22.511 |
24.223 |
3.360 |
|
(f) Other current assets |
4.543 |
9.729 |
9.227 |
|
Total Current Assets |
319.675 |
192.957 |
59.264 |
|
|
|
|
|
|
TOTAL |
349.236 |
209.820 |
72.146 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
909.307 |
191.464 |
81.049 |
|
|
|
Other Income |
11.262 |
0.645 |
1.611 |
|
|
|
TOTAL (A) |
920.569 |
192.109 |
82.660 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of Stock-in-trade |
737.036 |
144.046 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(24.557) |
(11.818) |
|
|
|
|
Employee Benefits Expenses |
52.945 |
24.196 |
|
|
|
|
Other Expenses |
103.450 |
32.560 |
|
|
|
|
TOTAL (B) |
868.874 |
188.984 |
102.627 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
51.695 |
3.125 |
(19.967) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
15.651 |
0.022 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
36.044 |
3.103 |
(19.967) |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
3.143 |
2.356 |
2.011 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
32.901 |
0.747 |
(21.978) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(3.220) |
(0.072) |
1.053 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
36.121 |
0.819 |
(19.008) |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD
EXPENSES |
0.010 |
0.114 |
0.000 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT FOR
THE YEAR |
36.111 |
0.705 |
(19.008) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.63 |
1.23 |
(33.06) |
|
%20PRIVATE%20LIMITED%20-%20268963_MIRA%2026-May-2014_files/image003.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.92 |
0.37 |
(23.00) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.62 |
0.39 |
(27.12) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.66 |
0.36 |
(30.46) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.01 |
(1.26) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.05 |
0.73 |
2.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.56 |
1.92 |
1.10 |
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 |
5.750 |
5.750 |
24.350 |
|
Reserves & Surplus |
(39.373) |
(38.668) |
29.844 |
|
Share Application money
pending allotment |
51.000 |
141.000 |
90.000 |
|
Net
worth |
17.377 |
108.082 |
144.194 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
47.041 |
78.805 |
151.381 |
|
Total
borrowings |
47.041 |
78.805 |
151.381 |
|
Debt/Equity
ratio |
2.707 |
0.729 |
1.050 |
%20PRIVATE%20LIMITED%20-%20268963_MIRA%2026-May-2014_files/image005.gif)
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 |
81.049 |
191.464 |
909.307 |
|
|
|
136.232 |
374.923 |
%20PRIVATE%20LIMITED%20-%20268963_MIRA%2026-May-2014_files/image007.gif)
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
|
81.049 |
191.464 |
909.307 |
|
Profit |
-19.008 |
0.705 |
36.111 |
|
|
-23.45% |
0.37% |
3.97% |
%20PRIVATE%20LIMITED%20-%20268963_MIRA%2026-May-2014_files/image009.gif)
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT IS NOT AVAILABLE
|
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 |
No |
|
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 |
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Loans and
Advances from Related Parties |
0.106 |
78.805 |
|
|
|
|
|
Total |
0.106 |
78.805 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10454893 |
19/09/2013 |
11,100,000.00 |
BANK
OF BARODA |
GAMDEVI
BRANCH, GEETA BUILDING,, PANDIT RAMABAI ROAD, GAMDEVI, MUMBAI, MAHARASHTRA - 400007,
INDIA |
B87491627 |
|
2 |
10439717 |
23/07/2013 |
40,000,000.00 |
BANK
OF BARODA |
GAMDEVI
BRANCH, GEETA BUILDING,, PANDIT RAMABAI ROAD, GAMDEVI,, MUMBAI, MAHARASHTRA -
400007, INDIA |
B80724107 |
|
3 |
10364735 |
13/06/2012 |
150,000,000.00 |
BANK OF
BARODA |
GAMDEVI
BRANCH, GEETA BUILDING, PANDITA RAMABAI ROAD, GAMDEVI, MUMBAI, MAHARASHTRA -
400007, INDIA |
B43293554 |
|
4 |
10364734 |
19/09/2013
* |
240,000,000.00 |
BANK
OF BARODA |
GAMDEVI
BRANCH, GEETA BUILDING,, PANDIT RAMABAI ROAD, GAMDEVI, MUMBAI, MAHARASHTRA -
400007, INDIA |
B87491049 |
* Date of charge modification
FIXED ASSETS:
·
Plant and Machinery
·
Air Conditioner
·
Office Equipment
·
Furniture and Fixtures
·
Computer
·
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 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.58.48 |
|
|
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.79.81 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
33 |
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.