MIRA
INFORM REPORT
|
Report Date : |
31.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
FORBES MARSHALL
PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
FORBESONS ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A – 34/ 35, M.I.D.C., Pimpri, Pune – 411 018, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on)
: |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
18.10.1985 |
|
|
|
|
Com. Reg. No.: |
11-037806 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.76.672 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28996PN1985PTC037806 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Steam Engineering and Control Instrumentation. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 8369000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Financial position of the company seems to be good. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct and as per commitments. 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.
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating A+ |
|
Rating Explanation |
Have adequate degree of safety and carry low
credit risk |
|
Date |
February 20, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating A1+ |
|
Rating Explanation |
Have very strong degree of safety and carry
lowest credit risk. |
|
Date |
February 20, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED BY
|
Name : |
Mr. Prakesh |
|
Designation : |
Finance Executive |
|
Contact No.: |
91-20-27442020 |
|
Date : |
26.05.2014 |
LOCATIONS
|
Registered Office / Factory 1 : |
A – 34/ 35, M.I.D.C., Pimpri, Pune – 411 018, |
|
Tel. No.: |
91-20-27442020 91-20-27477762 (after office Hrs.) |
|
Mobile No.: |
91-9823399133 (Mr. Rajendra Bhide) |
|
Fax No.: |
91-20-27442040 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office / Factory 2 : |
PB # 29, Mumbai – |
|
Tel. No.: |
91-20-27145595/ 39858555 |
|
Fax No.: |
91-20-27147413/ 27147593 |
|
Email : |
|
|
Website : |
|
|
|
|
|
Factory 3 : |
Plot No. A-19/2 and T-4/2, I.D.A. Nacharam, |
|
Tel. No.: |
91-40-27153918/ 27152276/ 27171909/ 27170732 |
|
Fax No.: |
91-40-27173235/ 27179223 |
|
Website : |
|
|
E-Mail : |
|
|
|
|
|
Overseas Office : |
Located at:
|
|
|
|
|
Branch Office : |
Located at:
|
DIRECTORS
As on 27.09.2013
|
Name : |
Mr. Darius M. Forbes |
|
Designation : |
Chairman |
|
Address : |
30, |
|
Date of Birth/Age : |
02.10.1926 |
|
Date of Appointment : |
18.10.1985 |
|
DIN No.: |
00079467 |
|
|
|
|
Name : |
Mrs. Maharookh D. Forbes |
|
Designation : |
Director |
|
Address : |
No. 30, Koregaon Park, Pune – 411 001, Maharashtra, India |
|
Date of Birth/Age : |
06.10.1934 |
|
Date of Appointment : |
18.10.1985 |
|
DIN No.: |
00278436 |
|
|
|
|
Name : |
Mr. Farhad D. Forbes |
|
Designation : |
Director |
|
Address : |
410, Sheridan AVE # 448, Palo Alto – CA94306, United State of
America |
|
Date of Birth/Age : |
08.12.1955 |
|
Date of Appointment : |
18.10.1985 |
|
DIN No.: |
00628951 |
|
|
|
|
Name : |
Mr. Naushad D. Forbes |
|
Designation : |
Director |
|
Address : |
74, Koregaon Park, Pune – 411 001, Maharashtra, India |
|
Date of Birth/Age : |
13.05.1960 |
|
Date of Appointment : |
18.10.1985 |
|
DIN No.: |
00630825 |
|
|
|
|
Name : |
Ms. Rati Forbes |
|
Designation : |
Director |
|
Address : |
30, |
|
Date of Birth/Age : |
23.03.1957 |
|
Date of Appointment : |
10.03.1989 |
|
DIN No.: |
00137326 |
|
|
|
|
Name : |
Mr. Kiran S. Vohra |
|
Designation : |
Director |
|
Address : |
333, |
|
Date of Birth/Age : |
14.12.1946 |
|
Date of Appointment : |
30.03.1988 |
|
DIN No.: |
00076416 |
|
|
|
|
Name : |
Mr. Mateesh Kant Rai |
|
Designation : |
Director |
|
Address : |
Mathrani House, Flat No. 201 7A, Shankarsheth Road, Gurunanak Nagar,
Pune – 411042, Maharashtra, India |
|
Date of Birth/Age : |
01.05.1963 |
|
Date of Appointment : |
28.03.2013 |
|
DIN No.: |
01215628 |
|
|
|
|
Name : |
Viraf Sohrab Pudumjee |
|
Designation : |
Director |
|
Address : |
220/1, Nagar Road, Kalayani Nagar, Yerawada, Pune – 411006,
Maharashtra, India |
|
Date of Birth/Age : |
15.05.1961 |
|
Date of Appointment : |
05.09.2013 |
|
DIN No.: |
06682295 |
|
|
|
|
Name : |
Marcus John Dyne Steel |
|
Designation : |
Director |
|
Address : |
12, Walnut Close, Gloucestershire, Cheltenham, United Kingdom |
|
Date of Birth/Age : |
08.10.1945 |
|
Date of Appointment : |
05.09.2013 |
|
DIN No.: |
01256834 |
|
|
|
|
Name : |
Mr. Jehangir Ardeshir |
|
Designation : |
Director |
|
Address : |
Prestige Acropolis 604 Athens 2, 20 Hosur Road, Next to Forum Mall,
Bangalore – 56003.4, Karnataka, India |
|
Date of Birth/Age : |
22.09.1957 |
|
Date of Appointment : |
05.09.2013 |
|
DIN No.: |
02344835 |
KEY EXECUTIVES
|
Name : |
Mr. Dharmesh N. Thaker |
|
Designation : |
Secretary |
|
Address : |
6E, |
|
Date of Birth/Age : |
29.09.1976 |
|
Date of Appointment : |
02.09.2009 |
|
PAN No.: |
ACDPT8073F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2013
NOTE: SHREHOLDINGS DETAILS FILE ATTACHED
As on 27.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Steam Engineering and Control Instrumentation. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
Not Divulged |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ford, Rhodes, Parks and Company Chartered Accountants |
|
Address : |
|
|
PAN
No. : |
AAAFF1843L |
|
|
|
|
Subsidiaries : |
² Forbes Marshall (Hyd) Private Limited ² Forbes Marshall Lanka Private Limited ² Forbes Marshall Canada Inc. |
|
|
|
|
Joint Ventures : |
² Forbes Marshall Arca Private Limited ² Spirax Marshall Private Limited ² Krohne Marshall Private Limited ² forbesvyncke Private Limited ² Forbes Solar Private Limited ² Forbes Marshall Codel Private Limited |
|
|
|
|
Associates : |
² J N Marshall Private Limited ² Codel International Limited ² Forbes Marshall Europe GmbH |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
550000 |
Equity Shares |
Rs.100/- each |
Rs.55.000 Millions |
|
900000 |
Preference Shares |
Rs.100/- each |
Rs.90.000 Millions |
|
|
Total |
|
Rs.145.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
206716 |
Equity Shares |
Rs.100/- each |
Rs.20.672 Millions |
|
560000 |
Preference Shares |
Rs.100/- each |
Rs.56.000 Millions |
|
766716 |
Total |
|
Rs.76.672
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 |
76.672 |
104.672 |
104.672 |
|
(b) Reserves & Surplus |
2015.641 |
1705.904 |
1378.455 |
|
(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) |
2092.313 |
1810.576 |
1483.127 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
348.413 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
32.063 |
18.306 |
9.167 |
|
(c) Other long term liabilities |
7.590 |
7.545 |
10.045 |
|
(d) long-term provisions |
13.340 |
13.631 |
12.376 |
|
Total Non-current Liabilities (3) |
401.406 |
39.482 |
31.588 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
180.154 |
31.239 |
30.739 |
|
(b) Trade payables |
611.028 |
434.414 |
379.207 |
|
(c) Other current
liabilities |
390.589 |
320.480 |
218.896 |
|
(d) Short-term provisions |
69.721 |
58.697 |
61.310 |
|
Total Current Liabilities (4) |
1251.492 |
844.830 |
690.152 |
|
|
|
|
|
|
TOTAL |
3745.211 |
2694.888 |
2204.867 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
949.089 |
765.389 |
694.428 |
|
(ii) Intangible Assets |
234.130 |
173.369 |
8.870 |
|
(iii) Capital
work-in-progress |
533.184 |
62.113 |
11.163 |
|
(iv)
Intangible assets under development |
25.768 |
56.109 |
24.120 |
|
(b) Non-current Investments |
0.000 |
0.000 |
154.070 |
|
(c) Deferred tax assets (net) |
169.102 |
147.182 |
0.000 |
|
(d) Long-term Loan and Advances |
182.212 |
135.629 |
55.151 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
2093.485 |
1339.791 |
947.802 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
490.270 |
438.140 |
352.865 |
|
(c) Trade receivables |
954.606 |
708.604 |
594.220 |
|
(d) Cashand cash
equivalents |
76.544 |
70.456 |
185.713 |
|
(e) Short-term loans and
advances |
130.306 |
130.579 |
116.659 |
|
(f) Other current assets |
0.000 |
7.318 |
7.608 |
|
Total Current Assets |
1651.726 |
1355.097 |
1257.065 |
|
|
|
|
|
|
TOTAL |
3745.211 |
2694.888 |
2204.867 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
3878.310 |
3307.180 |
2525.770 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
3437.200 |
2856.870 |
1961.620 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
441.110 |
450.310 |
564.150 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
74.868 |
72.675 |
171.509 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
366.242 |
377.635 |
392.641 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1384.486 |
1132.631 |
835.380 |
|
|
|
|
|
|
|
|
|
Less |
Balance
Transferred To Amalgamation |
0.000 |
30.540 |
0.000 |
|
|
|
|
|
|
|
|
|
Add / (Less) |
Prior
Year Adjustments |
0.000 |
7.420 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
50.000 |
50.000 |
50.000 |
|
|
|
Dividend |
1.490 |
38.930 |
38.930 |
|
|
|
Tax on Dividend |
7.99 |
6.310 |
6.460 |
|
|
BALANCE CARRIED
TO THE B/S |
1644.220 |
1384.486 |
1132.631 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
477.68 |
492.53 |
513.11 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
9.44 |
11.42 |
15.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.62 |
18.54 |
27.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
0.25 |
0.38 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.25 |
0.02 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32 |
1.60 |
1.82 |
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 |
104.672 |
104.672 |
76.672 |
|
Reserves & Surplus |
1378.455 |
1705.904 |
2015.641 |
|
Net
worth |
1483.127 |
1810.576 |
2092.313 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
348.413 |
|
Short term borrowings |
30.739 |
31.239 |
180.154 |
|
Total
borrowings |
30.739 |
31.239 |
528.567 |
|
Debt/Equity
ratio |
0.021 |
0.017 |
0.253 |
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 |
2525.770 |
3307.180 |
3878.310 |
|
|
|
30.937 |
17.269 |
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 |
2525.770 |
3307.180 |
3878.310 |
|
Profit |
392.641 |
377.635 |
366.242 |
|
|
15.55% |
11.42% |
9.44% |
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 |
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
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
81.124 |
31.239 |
|
|
|
|
|
Total |
81.124 |
31.239 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10451367 |
04/09/2013 |
1,100,000,000.00 |
BANK OF MAHARASHTRA |
MUMBAI PUNE ROAD, PIMPRI, PUNE, Maharashtra - 411018, INDIA |
B85878197 |
|
2 |
10443195 |
06/08/2013 |
160,000,000.00 |
The Hongkong and Shanghai Banking Corporation Limited |
52/60, Mahatma Gandhi Road, Fort, Mumbai, Maharashtra - 400001, INDIA |
B82167560 |
|
3 |
10110347 |
15/10/2011 * |
40,000,000.00 |
The Hongkong and Shanghai Banking Corporation Limited |
Amar Avinash Corporate City, Sector No. 11, Bund |
B23833684 |
|
4 |
80001963 |
17/08/2012 * |
2,150,000,000.00 |
BANK OF MAHARASHTRA |
MUMBAI-PUNE ROAD, PIMPRI BRANCH, PUNE, Maharashtra |
B78894995 |
|
5 |
90087775 |
28/04/1993 * |
6,300,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, PUNE, Maharashtra - 411 |
- |
|
6 |
80037071 |
28/10/1992 |
532,000.00 |
ANZ GRINDLAYS BANK |
132 MINT ROAD, POST BOX 93, BOMBAY, Maharashtra - 400001, INDIA |
- |
|
7 |
80037285 |
27/07/1990 |
3,502,300.00 |
UNION BANK OF INDIA |
KASARWADI BRANCH, PUNE, Maharashtra - 411018, INDIA |
- |
|
8 |
90083166 |
31/01/1975 |
179,000.00 |
THE MAHARASHTRA STATE FINANCE CO OPERATIVE BANK |
DR. ANNIE BASENT ROAD, WORLI, BOMBAY, Maharashtra |
- |
* Date of charge modification
OPERATIONS:
The Company’s revenue from operations continues to grow this year too. Company continues its efforts of augmenting the facilities for growing operations.
They did the migration from Oracle 11i to Oracle R12 in the month of June 2012. While there was some impact on the operations at the time of the migration in June and July, 2012, all issues were addressed and we are now seeing the benefits of the system for improved order execution and inventories reduction. The performance of several parameters was tracked like On Time Delivery to the customers, on time Delivery from suppliers and other parameters related to Inventory etc.
FIXED ASSETS
œ Land
œ Residential Building
œ Office Building
œ Plant and Equipment
œ Furniture and Fixtures
œ Vehicles
œ Office Equipment
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.03 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.80.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
52 |
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.