MIRA
INFORM REPORT
|
Report Date : |
31.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
MITC ROLLING MILLS PRIVATE LIMITED (w.e.f. 14.12.2006) |
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Formerly Known
As : |
NEW BOMBEY ISPAT UDYOG PRIVATE LIMITED |
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Registered
Office : |
B-2/2 M I D C, Cpalkhed Road, Dindori, Nashik - 422202, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
26.04.1985 |
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Com. Reg. No.: |
11-036042 |
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Capital
Investment / Paid-up Capital : |
Rs.20.943
Millions |
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CIN No.: [Company Identification
No.] |
U51420MH1985PTC036042 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN09574F |
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PAN No.: [Permanent Account No.] |
AAACN1731C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Steel. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1580000 |
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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 a 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 for normal business dealing at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.2453.2 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 |
ICRA |
|
Rating |
Cash Credit Limit = BBB- |
|
Rating Explanation |
Have moderate degree of safety and carry
moderate credit risk |
|
Date |
August 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Letter of Credit (LC Limit) = A3 |
|
Rating Explanation |
Have moderate degree of safety and carry
higher credit risk |
|
Date |
August 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
Management Non-Cooperative (Tel No.: 91-22-61571234)
LOCATIONS
|
Registered Office/ Factory : |
B-2/2 M I D C, Cpalkhed Road, Dindori, Nashik - 422202, Maharashtra India |
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Tel. No.: |
91-2557-952557 / 221996 / 221850 |
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Fax No.: |
91-2557-221979 / 952557 |
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E-Mail : |
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Location : |
Owned |
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Head Office : |
Garodia Market, ground Floor, Plot No.8, Dr. Sandhu Marg, Near Parel
Hotel, Chembur (East), Mumbai - 400071, Maharashtra, India |
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Tel. No.: |
91-22-61571234 |
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Fax No.: |
91-22-61571230 |
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E-Mail : |
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City Office : |
19, Steelyard House, Sant Tukaram Road, Mumbai-400009, Maharashtra,
India |
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Tel No.: |
91-22-23433143 / 23421038 |
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Pune Office : |
449, Mangalwar Peth, Pune - 411011, Maharashtra, India |
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Tel No.: |
91-20-26126024 |
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Fax No.: |
91-20-26121235 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Atul Champshi Shah |
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Designation : |
Director |
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Address : |
A-14, Jayesh, R.B. Mehta Road, Ghatkopar (East), Mumbai – 400077,
Maharashtra, India |
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Date of Birth/Age : |
28.09.1969 |
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Date of Appointment : |
12.06.1999 |
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PAN No.: |
AAHPS4343K |
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DIN No.: |
00400466 |
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Other Directorship:
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Name : |
Champshi Manekji Shah |
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Designation : |
Director |
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Address : |
A-14, Jayesh, R.B. Mehta Road, Ghatkopar (East), Mumbai – 400077,
Maharashtra, India |
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Date of Birth/Age : |
16.12.1943 |
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Date of Appointment : |
12.06.1999 |
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PAN No.: |
AAAHC0393J |
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DIN No.: |
00400338 |
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Other Directorship:
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Name : |
Mr. Chetan Damji Lodaya |
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Designation : |
Director |
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Address : |
Yasotaraj Bunglow 1st Floor Maneshsha Nagar, Near Dwarka
Circle, Nasik – 422011, Maharashtra, India |
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Date of Birth/Age : |
07.12.1970 |
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Date of Appointment : |
01.12.2004 |
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PAN No.: |
ABBPL3773H |
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DIN No.: |
00272236 |
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Other Directorship:
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MAJOR SHAREHOLDERS
As on 30.09.2013
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Steel. |
GENERAL INFORMATION
|
Customers : |
·
Electromag Devices Private Limited ·
Furnace and Foundry Equipment Company ·
Alliance Engineering Company ·
Pooja Steel and Auto Components Private Limited ·
Triveni Implement Mfg. Company Private Limited ·
Shree Amiee Export Private Limited ·
Geeta Bright Bars Private Limited ·
Zenith Multiple Wires Private Limited ·
Omkar Enterprises ·
Seven Star Electrodes Private Limited ·
Magnificent Engineering Work ·
Sanu Automation Private Limited ·
Reliance Industries Limited and Entire group of Jamnagar, Hazira, Patalganga,
SEZ, Nagothane, Navi Mumbai and Retail ·
Kalpataru Group ·
Hiranandani Group ·
K. Raheja Group ·
Oberoi Group ·
Neptune Group ·
Akruti Group ·
Dosti Group ·
Lodha Group ·
Godrej Group ·
The Bombay Dyeing and Mfg. Company Limited ·
Peninsula Land Limited (Piramal Group) |
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No. of Employees : |
Information denied by management |
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Bankers : |
·
Canara
Bank, 112, Jayachamarajendra Road, Bangalore - 560002, Karnataka, India ·
Canara
Bank, Ghatkopar East Branch, Bombay, Maharashtra - 400077, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sumaria and Sumaria Chartered Accountants |
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Address : |
1, Mulund Vaibhav, Zaver Cross Road, Adjacent To RLY Station, Mulund
(West), Mumbai – 400080, Maharashtra, India |
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Tel. No.: |
91-22-65616029 |
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Fax No.: |
91-22-65540872 |
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E-Mail : |
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PAN No: |
AAZFS7438M |
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Others : |
· Eagle Rolling Mills Services · Anchal Distributors Private Limited CIN No.: U51109MH2005PTC218341 |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2600000 |
Equity Shares |
Rs.10/- each |
Rs.26.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2303631 |
Equity Shares |
Rs.10/- each |
Rs.23.036 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 |
23.036 |
23.036 |
20.943 |
|
(b) Reserves & Surplus |
371.586 |
333.739 |
142.498 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.363 |
0.363 |
0.363 |
|
Total
Shareholders’ Funds (1) + (2) |
394.985 |
357.138 |
163.804 |
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
461.983 |
499.071 |
492.743 |
|
(b) Deferred tax liabilities (Net) |
41.255 |
37.927 |
22.360 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
10.300 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
513.538 |
536.998 |
515.103 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
404.254 |
189.662 |
79.631 |
|
(b) Trade payables |
131.357 |
91.736 |
164.091 |
|
(c) Other current
liabilities |
69.056 |
272.281 |
216.250 |
|
(d) Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
604.667 |
553.679 |
459.972 |
|
|
|
|
|
|
TOTAL |
1,513.190 |
1,447.815 |
1,138.879 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
485.312 |
514.643 |
293.436 |
|
(ii) Intangible Assets |
2.301 |
2.301 |
2.301 |
|
(iii) Capital
work-in-progress |
162.877 |
0.000 |
170.639 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
4.555 |
4.370 |
3.329 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
6.763 |
9.080 |
10.909 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
661.808 |
530.394 |
480.614 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
215.898 |
210.603 |
206.941 |
|
(c) Trade receivables |
509.296 |
650.302 |
401.013 |
|
(d) Cash and cash
equivalents |
95.131 |
7.748 |
5.503 |
|
(e) Short-term loans and
advances |
18.936 |
23.656 |
31.139 |
|
(f) Other current assets |
12.121 |
25.112 |
13.669 |
|
Total Current Assets |
851.382 |
917.421 |
658.265 |
|
|
|
|
|
|
TOTAL |
1,513.190 |
1,447.815 |
1,138.879 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5210.000 |
4520.000 |
3240.000 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
37.846 |
25.835 |
15.626 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.43 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.19 |
1.93 |
3.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41 |
1.66 |
1.43 |
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 |
20.943 |
23.036 |
23.036 |
|
Reserves & Surplus |
142.498 |
333.739 |
371.586 |
|
Share Application money
pending allotment |
0.363 |
0.363 |
0.363 |
|
Net
worth |
163.804 |
357.138 |
394.985 |
|
|
|
|
|
|
long-term borrowings |
492.743 |
499.071 |
461.983 |
|
Short term borrowings |
79.631 |
189.662 |
404.254 |
|
Total
borrowings |
572.374 |
688.733 |
866.237 |
|
Debt/Equity
ratio |
3.494 |
1.928 |
2.193 |
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 |
3,240.000 |
4,520.000 |
5,210.000 |
|
|
|
39.506 |
15.265 |
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
|
3,240.000 |
4,520.000 |
5,210.000 |
|
Profit |
15.626 |
25.835 |
37.846 |
|
|
0.48% |
0.57% |
0.73% |
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 |
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 |
Yes |
|
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 |
Yes |
|
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 |
|
Long Term Borrowings |
|
|
|
Intercorporate
Deposit |
277.390 |
292.954 |
|
Short Term Borrowings |
|
|
|
Loans repayable on
demand |
351.450 |
159.855 |
|
Total |
628.840 |
452.809 |
CORPORATE
RESULTS:-
This year marks the Twenty Eight Year of the Company. This is the 28th consecutive
year of the Company maintaining a profitable status. The Turn Over of the
Company has jumped from Rs.4520.000 Millions to Rs.5210.000 Millions. This is
the highest turnover achieved by the Company till date. For the next year the
Company is targeting a turnover of more than Rs.6000.000 Millions. So from one
record breaking turn over year to another. The Company has grown from strength
to strength. The Company has achieved profit of 5150.000 Millions and a cash
profit of Rs.8520.000 Millions. This is also new high for the Company. The
Company is embarking on continuous growth plan. They are also aiming to exceed
1.5 lac MT billets and 1 lac MT TMT production for the next year. All the
division of the Company, melting rolling and casting have contributed towards
this growth.
The reserves and surplus of the Company has shot up from Rs.333.700
Millions to 371.600 Millions.
FUTURE EXPANSION:-
The Company has added capacity in the current year and is looking at
enhancing it further. As soon as fresh power is sanctioned, the Company will
increase its melting capacity substantially. The company also has embarked on
an ambitious Mega Project which will be commissioned in May 2015. This will
move the company to a new heights and the next level of operations.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90223230 |
26/04/2003 * |
9,500,000.00 |
CANARA BANK |
Ghatkopar East, Bombay, Maharashtra - 400077, India |
- |
|
2 |
80008597 |
31/12/2011 * |
425,000,000.00 |
CANARA BANK |
77, Prabha, R.B. Mehta Road,, Ghatkopar East, Mumbai, Maharashtra - 400077, India |
B33004839 |
|
3 |
90226297 |
23/05/2000 |
700,000.00 |
CANARA BANK |
Ghatkopar East, Mumbai, Maharashtra, India |
- |
|
4 |
80008594 |
17/08/2006 * |
70,000,000.00 |
CANARA BANK |
77, Prabha, R.B. Mehta Road,, Ghatkopar East, Mumbai, Maharashtra - 400077, India |
- |
|
5 |
90240167 |
12/02/1994 * |
2,000,000.00 |
CANARA BANK |
Ghatkopar East Branch, Bombay, Maharashtra - 400077, India |
- |
|
6 |
90222424 |
22/12/1994 |
27,500,000.00 |
CANARA BANK |
Ghatkopar East Branch, Bombay, Maharashtra - 400077, India |
- |
|
7 |
90222342 |
03/06/1994 |
12,500,000.00 |
CANARA BANK |
Ghatkopar East Branch, Bombay, Maharashtra - 400077, India |
- |
|
8 |
90222290 |
12/02/1994 |
7,500,000.00 |
CANARA BANK |
Ghatkopar East Branch, Bombay, Maharashtra - 400077, India |
- |
|
9 |
90239858 |
12/02/1994 * |
5,000,000.00 |
CANARA BANK |
Ghatkopar East Branch, Bombay, Maharashtra - 400077, India |
- |
|
10 |
90222229 |
14/06/1995 * |
5,000,000.00 |
CANARA BANK |
Ghatkopar East Branch, Bombay, Maharashtra - 400077, India |
- |
|
11 |
90241996 |
16/09/1993 |
5,000,000.00 |
CANARA BANK |
Ghatkopar East Branch, Bombay, Maharashtra - 400077, India |
- |
|
12 |
90239844 |
06/08/1993 |
10,000,000.00 |
CANARA BANK |
Ghatkopar East Branch, Bombay, Maharashtra - 400077, India |
- |
|
13 |
90221571 |
25/09/1989 * |
16,000,000.00 |
CANARA BANK |
Ghatkopar East Branch, Bombay, Maharashtra - 400077, India |
- |
|
14 |
90221240 |
14/06/1995 * |
2,000,000.00 |
CANARA BANK |
Ghatkopar East Branch, Bombay, Maharashtra - 400077, India |
- |
|
15 |
90223849 |
26/04/2003 * |
2,000,000.00 |
CANARA BANK |
Ghatkopar East Branch, Bombay, Maharashtra - 400077, India |
- |
|
16 |
90221015 |
06/03/1983 |
10,000,000.00 |
CANARA BANK |
Ghatkopar East Branch, Bombay, Maharashtra - 400077, India |
- |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixtures
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.80.34 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNT |
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 |
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 |
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 |
|
49 |
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.