MIRA INFORM REPORT
|
Report Date : |
05.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
CONNECT INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-214, Sarita Vihar, New Delhi - 110076 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on)
: |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
23.05.1996 |
|
|
|
|
Com. Reg. No.: |
55-079152 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 28.630 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26933DL1996PTC079152 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELC05940E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers and Exporter of Building Hardwares, Sanitary
Fittings, Decorative Fitting and Importer of Ferrous and Non-Ferrous
Metals. |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating takes into consideration company’s sound financial risk
profile and fair liquidity position of the company. Trade relations are fair. Business is active. Payment terms are reported
to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks over
coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Rajiv |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-9958521515 |
|
Date : |
03.11.2014 |
LOCATIONS
|
Registered Office : |
A-214, Sarita Vihar, New Delhi – 110076, Indai |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9958521515 (Mr. Rajiv) 91-9810054125 (Mr. Anil Mehra) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office / Factory : |
B-5 and B-12,
Sector 81, Phase II, Noida, Uttar Pradesh, India |
|
Tel. No.: |
91-120-3021486 / 487 / 488 |
|
|
|
|
Factory 2 : |
Navada Industrial
Area, New Delhi, India |
DIRECTORS
As on 29.09.2014
|
Name : |
Mr. Anil Mehra |
|
Designation : |
Managing Director
|
|
Address : |
Flat No.374,
Sector -37, Gautam Budh Nagar, Noida – 201301, Uttar Pradesh, India |
|
Date of Birth/Age : |
26.07.1961 |
|
Qualification : |
B. Com (Hon) |
|
Date of Appointment : |
23.05.1996 |
|
DIN No.: |
01057919 |
|
|
|
|
Name : |
Mr. Deepak Mehra |
|
Designation : |
Managing Director |
|
Address : |
130, Double
Storey, New Rajinder Nagar, |
|
Date of Birth/Age : |
27.08.1965 |
|
Qualification : |
B. E. |
|
Date of Appointment : |
23.05.1996 |
|
DIN No.: |
01057628 |
|
|
|
|
Name : |
Mr. Jean Lovis
Schutt |
|
Designation : |
Director
(Foreign) |
|
Address : |
6, Rue DE
Bussiere, Illkyirch, Graffenstaden 67400, Farnce |
|
Date of Birth/Age : |
10.03.1957 |
|
Qualification : |
B. Tech |
|
Date of Appointment : |
23.05.1996 |
|
DIN No.: |
02978143 |
KEY EXECUTIVES
|
Name : |
Mr. Rajiv |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Sham Lal Mehra |
|
706 |
|
Anil Mehra |
|
538513 |
|
Priti Mehra |
|
200100 |
|
Deepak Mehra |
|
543729 |
|
Shirkha Mehra |
|
100 |
|
Grande Forge Management |
|
1394896 |
|
Master Tushar Mehra U/G of Deepak Mehra |
|
185000 |
|
Total |
|
2863044 |
As on 29.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
48.72 |
|
Directors or relatives of Directors |
51.28 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporter of Building Hardwares, Sanitary
Fittings, Decorative Fitting and Importer of Ferrous and Non-Ferrous
Metals. |
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Products : |
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Exports : |
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Countries : |
·
·
·
·
Denamark ·
·
·
·
UAE ·
·
·
·
Srilanka ·
Bangladesh ·
Thailand |
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Imports : |
|
||||
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Countries : |
·
·
·
Germany ·
UAE |
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||||
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Terms : |
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Selling : |
Cash / L/C / Credit |
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Purchasing : |
Cash / L/C / Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers, End Users and OEM’s |
||||||||||||||||||
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||||||||||||||||||
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No. of Employees : |
300 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
P.C. Bindal and Company Chartered Accountants |
|
Address : |
101, Sita Ram Mansion, 718/21, Joshi Road, Karol Bagh, New Delhi –
110005, India |
|
Tel. No.: |
91-11-23549822 / 23 |
|
Fax No.: |
91-11-23623829 |
|
E-Mail : |
|
|
PAN No.: |
AAAFP9359H |
|
|
|
|
Subsidiaries Company : |
Connect Architectural Product Private Limited |
|
|
|
|
Associates Company: |
Grande Forge Management |
CAPITAL STRUCTURE
As on 29.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,500,000 |
Equity Shares |
Rs.10/- each |
Rs.35.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,863,044 |
Equity Shares |
Rs.10/- each |
Rs.28.630
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
28.630 |
28.630 |
28.630 |
|
(b) Reserves & Surplus |
98.862 |
97.659 |
96.004 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
127.492 |
126.289 |
124.634 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
11.309 |
10.044 |
11.045 |
|
(b) Deferred tax liabilities (Net) |
12.111 |
11.784 |
11.085 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
3.880 |
4.029 |
3.525 |
|
Total Non-current
Liabilities (3) |
27.300 |
25.857 |
25.655 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
76.938 |
74.845 |
50.000 |
|
(b) Trade
payables |
24.947 |
17.216 |
15.231 |
|
(c) Other
current liabilities |
19.494 |
14.812 |
32.813 |
|
(d) Short-term
provisions |
0.375 |
0.504 |
0.672 |
|
Total Current
Liabilities (4) |
121.754 |
107.377 |
98.716 |
|
|
|
|
|
|
TOTAL |
276.546 |
259.523 |
249.005 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
108.178 |
102.289 |
92.890 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
12.570 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
7.100 |
7.100 |
7.100 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.191 |
2.839 |
4.705 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
116.469 |
112.228 |
117.265 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
94.088 |
88.416 |
84.088 |
|
(c) Trade
receivables |
40.417 |
41.103 |
31.220 |
|
(d) Cash
and cash equivalents |
3.534 |
3.483 |
3.174 |
|
(e)
Short-term loans and advances |
22.038 |
14.293 |
13.258 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
160.077 |
147.295 |
131.740 |
|
|
|
|
|
|
TOTAL |
276.546 |
259.523 |
249.005 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
157.760 |
148.769 |
151.759 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
155.958 |
139.575 |
142.595 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
Including
Depreciation Expenses |
9.194 |
9.164 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
6.782 |
5.978 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1.802 |
2.412 |
3.186 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.599 |
0.742 |
1.118 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.203 |
1.670 |
2.068 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
103.490 |
135.149 |
139.076 |
|
|
TOTAL EARNINGS |
103.490 |
135.149 |
139.076 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.368 |
1.557 |
0.948 |
|
|
|
Capital Goods |
5.056 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
5.424 |
1.557 |
0.948 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.42 |
0.58 |
0.72 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
148.700 |
|
|
|
|
|
Expected Sales (2014-15) : Rs. 2000.000 Millions
The above information has been parted by Mr. Rajiv
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.67 |
0.96 |
1.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.02 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.69 |
0.67 |
0.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31 |
1.37 |
1.33 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
28.630 |
28.630 |
28.630 |
|
Reserves & Surplus |
96.004 |
97.659 |
98.862 |
|
Net worth |
124.634 |
126.289 |
127.492 |
|
|
|
|
|
|
long-term borrowings |
11.045 |
10.044 |
11.309 |
|
Short term borrowings |
50.000 |
74.845 |
76.938 |
|
Total borrowings |
61.045 |
84.889 |
88.247 |
|
Debt/Equity ratio |
0.490 |
0.672 |
0.692 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
151.759 |
148.769 |
157.760 |
|
|
|
(1.970) |
6.044 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
151.759 |
148.769 |
157.760 |
|
Profit |
2.068 |
1.670 |
1.203 |
|
|
1.36% |
1.12% |
0.76% |
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 |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
Note:
The registered office of the company has been shifted from
R-615, Second Floor, New Rajinder Nagar, New Delhi – 110060, India to present
address w.e.f. 01.10.2013
CORPORATE INFORMATION
Subject is a private domiciled in India and incorporated under the provisions of the Companies Act, 1956. The company is engaged in the manufacturing and selling of bathroom assessories and hardware items. The company caters to both domestic and international markets.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Long Term
Borrowings |
|
|
|
Loan from related party from Directors |
11.142 |
10.044 |
|
Less: Current maturities during the year |
(0.047) |
(0.256) |
|
Total |
11.095 |
9.788 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10047852 |
21/03/2007 |
1,500,000.00 |
CENTURION BANK OF PUNJAB LIMITED |
L-40, CONNAUGHT CIRCUS, NEW DELHI, DELHI - 110001, |
A14310064 |
|
2 |
10005356 |
04/09/2008 * |
126,448,000.00 |
HDFC BANK LIMITED |
L-40, CONNAUGHT CIRCUS, NEW DELHI, DELHI - 110001, INDIA |
A44643088 |
|
3 |
80002216 |
02/01/2008 * |
27,500,000.00 |
CENTURION BANK OF PUNJAB LIMITED |
M-39,OUTER CIRCLE, OPP.SUPER BAZAR, CONNAUGHT PLACE, NEW DELHI, DELHI -110001, INDIA |
A33480369 |
|
4 |
90055640 |
28/02/2005 * |
5,200,000.00 |
BANK OF PUNJAB LIMITED |
L 40 CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
- |
|
5 |
90055073 |
28/03/2006 * |
32,500,000.00 |
CENTURIAN BANK OF PUNJAB LTD |
L-40, CONNAUGHT PLACE, NEW DELHI, DELHI, DELHI - 110001, INDIA |
- |
|
6 |
80001225 |
30/01/2013 * |
111,234,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B69041382 |
|
7 |
80027200 |
21/03/2007 * |
8,750,000.00 |
CENTURION BANK OF PUNJAB LIMITED |
L-40, CONNAUGHT CIRCUS, NEW DELHI, DELHI - 110001, |
- |
|
8 |
90054945 |
12/06/2003 |
4,000,000.00 |
PANJAB NATIONAL BANK |
I B B D C M BUILDING BARAKHAMBA ROAD, NEW DELHI, DELHI, INDIA |
- |
|
9 |
90054457 |
04/03/2002 |
11,500,000.00 |
PANJAB NATIONAL BANK |
I B B BARAKHAMBA ROAD, NEW DELHI, DELHI, INDIA |
- |
|
10 |
90053616 |
09/06/1999 |
1,200,000.00 |
PANJAB NATIONAL BANK |
I B B BARAKHAMBA ROAD, NEW DELHI, DELHI, INDIA |
- |
|
11 |
90052981 |
29/07/2002 * |
1,000,000.00 |
PANJAB NATIONAL BANK |
I B B BARAKHAMBA ROAD, NEW DELHI, DELHI, INDIA |
- |
|
12 |
90052977 |
05/07/1997 * |
1,200,000.00 |
PANJAB NATIONAL BANK |
INTERNATIONAL BANKING BRANCH, NEW DELHI, DELHI, INDIA |
- |
|
13 |
90052917 |
12/06/2003 * |
1,200,000.00 |
PANJAB NATIONAL BANK |
I B B BARAKHAMBA ROAD, NEW DELHI, DELHI, INDIA |
- |
* Date of charge modification
FIXED ASSETS
·
Land
(Leasehold)
·
Land
and Building
·
·
Plant
and Machinery
·
Furniture
and Fixtures
·
Electrical
and Office Equipments
·
Computer
·
Car
·
Air
Conditioner
·
Motor
Cycle
·
Tools,
Jigs and Dies
·
Forklift
(
·
Land at
Bawana
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.61.41 |
|
|
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.76.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.