MIRA
INFORM REPORT
|
Report Date : |
27.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
ENTRACK INTERNATIONAL TRADING PRIVATE LIMITED |
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Registered
Office : |
414, Star Plaza, Jasani Road, Rajkot – 360001, Gujarat |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
11.03.1994 |
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Com. Reg. No.: |
04-034664 |
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Capital Investment
/ Paid-up Capital : |
Rs. 120.000 Millions |
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CIN No.: [Company Identification
No.] |
U51100GJ1994PTC034664 |
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PAN No.: [Permanent Account No.] |
AAACE2476K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Luxury Products like Watches, Writing Instruments etc. |
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No. of Employees
: |
130 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1160000 |
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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. Financial position of the company seems to be decent. Trade relations are reported to be 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. |
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.
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. Rajesh Shah |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-281-2477982 |
|
Date : |
24.05.2014 |
LOCATIONS
|
Registered Office : |
414, Star Plaza, Jasani Road, Rajkot – 360001, Gujarat, India |
|
Tel. No.: |
91-281-2477982 |
|
Mobile No.: |
91-9427724927 (Mr. Rajesh) |
|
Fax No.: |
91-281-2477980 |
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E-Mail : |
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|
Area : |
1500 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
50, Sarvoday Industrial Compound, Opposite Paper Box, Mahakali Caves
Road, Andheri (East), Mumbai – 400093, Maharashtra, India |
DIRECTORS
AS ON 24.08.2013
|
Name : |
Mr. Pankaj Rasiklal Shah |
|
Designation : |
Director |
|
Address : |
Kitabghar, Shroff Road, Rajkot – 360001, Gujarat, India |
|
Date of Birth/Age : |
61 Years |
|
Qualification : |
B.A., DERE |
|
Experience : |
17 Years |
|
Date of Appointment : |
04.04.1995 |
|
PAN No.: |
AESPS0945L |
|
DIN No.: |
00467330 |
|
|
|
|
Name : |
Mr. Dilip Rasiklal Doshi |
|
Designation : |
Director |
|
Address : |
28, Mountview Clsoe, London NW 11 – 7HG UK |
|
Date of Birth/Age : |
67 Years |
|
Qualification : |
B. Com. |
|
Experience : |
39 Years |
|
Date of Appointment : |
04.04.1995 |
|
PAN No.: |
ADQPD7938M |
|
DIN No.: |
01317373 |
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|
|
|
Name : |
Mr. Nayan Dilip Doshi |
|
Designation : |
Additional director |
|
Address : |
Flat-1, Samruddhi, 22 Altamount Road, Kemps Corner, Mumbai - 400026,
Maharashtra, India |
|
Date of Birth/Age : |
06.10.1978 |
|
Date of Appointment : |
25.10.2013 |
|
PAN No.: |
ASMPD2637C |
|
DIN No.: |
06523030 |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh Shah |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.08.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Nayan D. Doshi and Izabela N. Doshi |
1500000 |
12.50 |
|
Dilipbhai Rasiklal Doshi |
7100000 |
59.17 |
|
Kalindi D. Doshi |
1900000 |
15.83 |
|
Vishakha D. Doshi |
1500000 |
12.50 |
|
|
|
|
|
Total |
12000000 |
100.00 |
AS ON 24.08.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Luxury Products like Watches, Writing Instruments etc. |
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Imports : |
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Products : |
Watches |
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Countries : |
· Germany Switzerland |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
130 (Approximately) |
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Bankers : |
· HDFC Bank Limited HDFC Bank House,
Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India · Indusind Bank Nariman Point,
Mumbai, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Kalaria and Sampat Chartered Accountants |
|
Address : |
302-305, Star Avenue, Dr. Radhakrishna Road, Opposite
Rajkumar College, Rajkot – 360001, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFK2045F |
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|
|
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Associates : |
· Entrack Heritage Products Private Limited Entrack Organic Haus Private Limited Kitabghar Printery Art Land Traders |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 120.000 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 120.000 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 |
120.000 |
120.000 |
100.000 |
|
(b) Reserves & Surplus |
170.339 |
155.460 |
147.723 |
|
(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) |
290.339 |
275.460 |
247.723 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
9.212 |
166.490 |
371.174 |
|
(b) Deferred tax liabilities (Net) |
25.848 |
25.080 |
21.070 |
|
(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) |
35.060 |
191.570 |
392.244 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
572.023 |
387.500 |
415.086 |
|
(b)
Trade payables |
109.074 |
178.102 |
76.429 |
|
(c)
Other current liabilities |
60.177 |
70.777 |
30.535 |
|
(d) Short-term
provisions |
13.971 |
4.964 |
5.948 |
|
Total Current
Liabilities (4) |
755.245 |
641.343 |
527.998 |
|
|
|
|
|
|
TOTAL |
1080.644 |
1108.373 |
1167.965 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
252.738 |
265.461 |
271.456 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
4.237 |
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 |
88.413 |
94.845 |
93.372 |
|
(e) Other
Non-current assets |
47.488 |
79.445 |
86.275 |
|
Total Non-Current
Assets |
392.876 |
439.751 |
451.103 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
494.090 |
553.433 |
512.631 |
|
(c)
Trade receivables |
66.512 |
46.708 |
132.723 |
|
(d) Cash
and cash equivalents |
49.884 |
46.214 |
44.884 |
|
(e)
Short-term loans and advances |
77.282 |
22.267 |
26.624 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
687.768 |
668.622 |
716.862 |
|
|
|
|
|
|
TOTAL |
1080.644 |
1108.373 |
1167.965 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1110.864 |
955.872 |
1049.662 |
|
|
|
Other Income |
24.855 |
20.511 |
62.578 |
|
|
|
TOTAL (A) |
1135.719 |
976.383 |
1112.240 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
943.949 |
791.236 |
952.777 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
191.770 |
185.147 |
159.463 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
114.991 |
142.970 |
134.407 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
76.779 |
42.177 |
25.056 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
54.311 |
30.310 |
21.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
22.468 |
11.867 |
3.156 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
7.590 |
4.130 |
4.645 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
14.878 |
7.737 |
(1.489) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
23.593 |
0.270 |
0.419 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Import of Goods |
537.595 |
356.644 |
469.915 |
|
|
|
Import of Furniture / POS Material |
21.538 |
13.370 |
20.095 |
|
|
TOTAL IMPORTS |
559.133 |
370.014 |
490.010 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
1.24 |
0.64 |
(0.15) |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
1100.000 |
|
|
|
|
|
Expected Sales (2014-2015): Rs. 1250.000 Millions
The above information has been parted by Mr. Rajesh Shah (Finance
Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.31 |
0.79 |
(0.13) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.02 |
1.24 |
0.30 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.09 |
1.07 |
0.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.04 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.00 |
2.01 |
3.17 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.91 |
1.04 |
1.36 |
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 |
100.000 |
120.000 |
120.000 |
|
Reserves & Surplus |
147.723 |
155.460 |
170.339 |
|
Net
worth |
247.723 |
275.460 |
290.339 |
|
|
|
|
|
|
long-term borrowings |
371.174 |
166.490 |
9.212 |
|
Short term borrowings |
415.086 |
387.500 |
572.023 |
|
Total
borrowings |
786.260 |
553.990 |
581.235 |
|
Debt/Equity
ratio |
3.174 |
2.011 |
2.002 |
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 |
1049.662 |
955.872 |
1110.864 |
|
|
|
(8.935) |
16.215 |
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 |
1049.662 |
955.872 |
1110.864 |
|
Profit/ (Loss) |
(1.489) |
7.737 |
14.878 |
|
|
(0.14%) |
0.81% |
1.34% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
9.417 |
19.871 |
17.174 |
|
|
|
|
|
|
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if
applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10424853 |
13/05/2009 |
140,000,000.00 |
INDUSIND BANK LIMITED |
INDUSIND HOUSE 425, D B MARG, OPERA HOUSE, MUMBAI - 400004, MAHARASHTRA, INDIA |
B62972021 |
|
2 |
10413536 |
04/04/2009 |
140,000,000.00 |
INDUSIND BANK LIMITED |
INDUSIND HOUSE 425, D B MARG, OPERA HOUSE, MUMBAI - 400004, MAHARASHTRA, INDIA |
B62972195 |
|
3 |
90108133 |
19/07/2012 * |
690,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI - 400013, MAHARASHTRA, INDIA |
B44999555 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Term loans from banks |
0.000 |
0.791 |
|
Rupee term loans from others |
0.962 |
0.000 |
|
Intercorporate borrowings |
0.000 |
143.379 |
|
Loans and advances from related parties |
8.250 |
16.804 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand from banks |
9.290 |
0.000 |
|
Intercorporate borrowings |
160.000 |
0.000 |
|
|
|
|
|
Total |
178.502 |
160.974 |
OPERATIONS:
During the year, the company reported total revenue of Rs. 1110.864 Millions as against Rs. 955.872 Millions in the previous year. The company reported higher net profit of Rs. 14.878 Millions as against Rs. 7.737 Millions in the previous year. This is significantly higher as compared to the previous year
There has been constant endeavor of the management for new ideas and plans to further bolster the Brand image of Montblanc, the quality of retail network, increase in business volume and in turn better profitability. In the current financial year 201314, management expects better sales volume from the new boutiques and up-gradation of existing boutiques.
Shifting / opening /
closure of boutiques:
Their boutique at Hotel Taj Deccan in Hyderabad has been shifted to a new Flagship boutique at GMR Hyderabad International Airport in September 2012 where sales have increased substantially as compared to sales at old boutique at Taj Deccan. Another Montblanc Flagship boutique at a prestigious business mall Bergamo at Chennai has been opened in April 2013 where we expect the traffic of potential new customers in high numbers.
Their Montblanc boutiques at JW Marriott and The Jewellery Salon at Taj Mahal, both in Mumbai have been closed with effect from 1st January 13. This became necessary as the business remained very lean as walk-in remained dismal. However their flagship boutique at the Taj Mahal, Mumbai as also their other boutiques in Mumbai shall be able to cater to the customers who were being served from The Jewellery Salon and JW Marriott.
The Management further plans to open two new outlets in
Mumbai, one each at Mumbai Airport and the prestigious Palladium Mall in the
first half of this year.
FIXED ASSETS:
· Buildings
Office
building
Plant
and equipment
Other
plant and equipment
Furniture
and fixtures
Vehicles
Motor
vehicles
Office
equipment
Computer
equipments
Other
equipments
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. 58.59 |
|
|
1 |
Rs. 98.66 |
|
Euro |
1 |
Rs. 79.81 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.