MIRA INFORM REPORT
|
Report Date : |
05.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
RISHABH INSTRUMENTS PRIVATE LIMIITED |
|
|
|
|
Registered
Office : |
A-54, Marol Industrial Area, Andheri
(East), Mumbai – 400 093, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
06.10.1982 |
|
|
|
|
Com. Reg. No.: |
11-028406 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.146.250 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31100MH1982PTC028406 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKR00055G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR2228Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the manufacturing, designing and
development of Test and Measuring Instruments and Industrial Control
Products. |
|
|
|
|
No. of Employees
: |
Not Divulged |
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 |
|
Maximum Credit Limit : |
USD 1620000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are
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.
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long terms rating: BBB |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
19.05.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short terms rating: A3+ |
|
Rating Explanation |
Have moderate degree of safety and carry higher credit risk. |
|
Date |
19.05.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Ms. Preeti Mishra |
|
Designation : |
Account Department |
|
Contact No.: |
91-253-22021184/ 103 |
|
Date : |
04.11.2014 |
LOCATIONS
|
Registered Office / Regional Office : |
A-54, Marol Industrial Area, Andheri
(East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-66420680/ 66420642 |
|
Fax No.: |
91-22-66420657 |
|
E-Mail : |
|
|
Website : |
|
|
Area: |
1000 sq. ft. |
|
Location: |
Owned |
|
|
|
|
Head Office/ Factory 1 : |
F-31, MIDC, Satpur, Nashik – 422007,
Maharashtra, India |
|
Tel. No.: |
91-253-2202202/ 203/ 160 |
|
Fax No.: |
91-253-2351064 |
|
E-Mail : |
|
|
Area: |
10000 sq. ft. |
|
Location: |
Owned |
|
|
|
|
Factory 2/ R&D Center/ Tool Room/ Marketing Office : |
Trishala, Plot No. C-6, N.I.C.E., Satpur, Nashik – 422005,
Maharashtra, India |
|
Tel. No.: |
91-253-2202312/ 2202202/ 203 |
|
Fax No.: |
91-253-2202314/ 2351064 |
|
E-Mail : |
|
|
|
|
|
Regional Offices : |
Located at: ·
Mumbai ·
New Delhi ·
Bangalore ·
Chennai ·
Kolkata |
|
|
|
|
Area Offices : |
Located at: ·
Lucknow ·
Ahemdabad ·
Pune · Secunderabad |
|
|
|
|
Resident Engineer Offices : |
Located at: ·
Jaipur ·
Udaipur ·
Bareilly ·
Bhilai ·
Vadodara ·
Indore ·
Coimbatore ·
Madurai |
DIRECTORS
As on 16.09.2013
|
Name : |
Mr. Narendra Johrimal Goliya |
|
Designation : |
Managing Director |
|
Address : |
Plot No. F-31, MIDC, Satpur, Nashik – 422007, Maharashtra, India |
|
Date of Birth/Age : |
20.09.1951 |
|
Qualification : |
B. Tech (IIT-Mumbai), M.S. (Stanford USA) |
|
Date of Appointment : |
06.10.1982 |
|
PAN
No.: |
AEEPG1586K |
|
00315870 |
|
|
|
|
|
Name : |
Dr. Maheshkumar Govinddas Nathani |
|
Designation : |
Director |
|
Address :` |
Megha Manas, 30, Usha Kiran Co-operative Housing Society, Opposite
Milk Scheme, Trimbak Road, Nashik – 422002, Maharashtra, India |
|
Date of Birth/Age : |
11.10.1946 |
|
Qualification : |
MSc, PHd in Chemistry |
|
Date of Appointment : |
20.11.1992 |
|
DIN No.: |
00127029 |
|
|
|
|
Name : |
Mr. Devendra Dattatray Bapat |
|
Designation : |
Director |
|
Address : |
Mans Chintamany Colony, Savarkar Nagar, Gangapur Road, Nashik –
422005, Maharashtra, India |
|
Date of Birth/Age : |
22.08.1959 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
17.04.2009 |
|
DIN No.: |
00129623 |
|
|
|
|
Name : |
Mr. Ramakrishnan Kottekode Parappath |
|
Designation : |
Director |
|
Address : |
H No.11, Walnut Creek Society, Savarkar Nagar, Nashik – 422013,
Maharashtra, India |
|
Date of Birth/Age : |
29.09.1949 |
|
Qualification : |
B.E. - Mechanical |
|
Date of Appointment : |
17.04.2009 |
|
PAN No.: |
AAOPR8882K |
|
DIN No.: |
00304272 |
|
|
|
|
Name : |
Mr. Shyam Narayan Karmarkar |
|
Designation : |
Director |
|
Address : |
E-66, Lokmanya Nagar, T.H. Katariya Road, Mahim, Mumbai – 400016, Maharashtra,
India |
|
Date of Birth/Age : |
13.11.1949 |
|
Qualification : |
B.E. – Electrical |
|
Date of Appointment : |
15.07.2010 |
|
DIN No.: |
02856240 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 16.09.2013
|
Names
of Shareholders |
No. of Shares |
|
Narendra J. Goliya jointly with Asha N. Goliya |
11741249 |
|
Asha N. Goliya jointly with Narendra Goliya |
2250000 |
|
Rishabh Narendra Goliya jointly with Narendra Johrimal Goliya |
375000 |
|
Narendra Rishabh Goliya HUF through its karta Narendra Goliya |
258750 |
|
Narendra J. Goliya jointly with Anushree N. Goliya |
1 |
|
Total |
14625000 |
As on 16.09.2013
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 : |
Subject is engaged in the manufacturing, designing and
development of Test and Measuring Instruments and Industrial Control
Products. |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Panel Meters |
Nos. |
1080000 |
744387 |
|
Multimeters |
Nos. |
50000 |
18282 |
|
Transducers |
Nos. |
40000 |
36887 |
|
Integra |
Nos. |
70000 |
42851 |
|
Current Transformers |
Nos. |
300000 |
144180 |
NOTES:
- In terms of Notification No. 477(E) dated July 25, 1991, issued by the
Ministry of Industry, Department of Industrial Development, the Company’s
products have been exempted from industrial licensing. Accordingly,
disclosure requirements concerning licensed capacity are not applicable.
- The installed capacity is as certified by the management and relied
on by the auditors, without verification, this being a technical matter.
- Difference in quantitative tally represents captive consumption.
- Since trading items do not individually account for 10% or more of
the total purchases, separate quantitative details are not given.
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
State Bank of India, Satpur Industrial Area Branch, Nashik – 422007,
Maharashtra, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
S.V. Ghatalia
and Associates Chartered Accountants |
|
Address : |
C-401, 4th
Floor, Panchshil Tech Park. Yerwada (Near Don Bosco School). Pune – 411 006,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFS6921Q |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives: |
· Shanti Instruments Private Limited, India CIN No.: U33129MH1982PTC027678 ·
Parasparam Consultancy Private Limited, India CIN No.: U74999MH2010PTC198351 ·
Goliya Trading LLC, U.A.E. |
|
|
|
|
Subsidiary
Companies : |
· Rishabh Applied Meters Private Limited, India CIN No.: U31909MH2004PTC149485 · Lubuskie Zak?ady Aparatów Elektrycznych LUMEL S.A. Poland · ECO1 Sp. Z.o.o., Poland · Dhruv Enterprises Limited, Cyprus |
CAPITAL STRUCTURE
AFTER 16.09.2013
Authorised Capital : Rs. 300.000 Million
Issued, Subscribed & Paid-up Capital : Rs.
275.482 Millions
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14625000 |
Equity Shares |
Rs.10/- each |
Rs. 146.250
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 |
146.250 |
146.250 |
146.250 |
|
(b) Reserves & Surplus |
420.185 |
345.109 |
285.500 |
|
(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) |
566.435 |
491.359 |
431.750 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
18.233 |
21.254 |
23.748 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.380 |
0.520 |
|
(d) long-term provisions |
4.363 |
4.148 |
7.515 |
|
Total
Non-current Liabilities (3) |
22.596 |
25.782 |
31.783 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
134.520 |
119.310 |
45.626 |
|
(b) Trade payables |
147.601 |
116.825 |
84.008 |
|
(c) Other current liabilities |
40.299 |
34.558 |
31.586 |
|
(d) Short-term provisions |
77.662 |
55.885 |
21.708 |
|
Total
Current Liabilities (4) |
400.082 |
326.578 |
182.928 |
|
|
|
|
|
|
TOTAL |
989.113 |
843.719 |
646.461 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
208.657 |
189.057 |
196.390 |
|
(ii) Intangible Assets |
13.924 |
2.507 |
2.848 |
|
(iii) Capital work-in-progress |
8.512 |
19.917 |
4.257 |
|
(iv) Intangible assets under
development |
15.839 |
8.113 |
1.213 |
|
(b) Non-current Investments |
226.758 |
106.958 |
2.347 |
|
(c) Deferred tax assets (net) |
12.560 |
2.521 |
5.203 |
|
(d) Long-term Loan and Advances |
10.654 |
15.734 |
12.170 |
|
(e) Other Non-current assets |
1.766 |
2.352 |
1.812 |
|
Total
Non-Current Assets |
498.670 |
347.159 |
226.240 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
15.000 |
|
(b) Inventories |
209.619 |
217.947 |
211.808 |
|
(c) Trade receivables |
219.134 |
192.652 |
146.749 |
|
(d) Cash and cash equivalents |
12.447 |
3.932 |
3.717 |
|
(e) Short-term loans and
advances |
42.480 |
73.407 |
31.556 |
|
(f) Other current assets |
6.763 |
8.622 |
11.391 |
|
Total
Current Assets |
490.443 |
496.560 |
420.221 |
|
|
|
|
|
|
TOTAL |
989.113 |
843.719 |
646.461 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
|
|
|
|
||
|
|
SALES |
|
|
|
||
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
NA |
NA |
NA |
||
|
|
|
|
|
|
||
|
|
PROFIT/
(LOSS) BEFORE TAX |
NA |
NA |
NA |
||
|
|
|
|
|
|
||
|
Less |
TAX |
NA |
NA |
NA |
||
|
|
|
|
|
|
||
|
|
PROFIT/
(LOSS) AFTER TAX |
92.186 |
76.607 |
90.617 |
||
|
|
|
|
|
|
||
|
|
EARNINGS
IN FOREIGN CURRENCY |
460.800 |
440.400 |
298.400 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials and Consumables |
|
|
221.171 |
|
|
|
|
Capital Goods |
|
|
3.746 |
|
|
|
TOTAL
IMPORTS |
NA |
NA |
224.917 |
||
|
|
|
|
|
|
||
|
|
Earnings
/ (Loss) Per Share (Rs.) |
6.30 |
5.24 |
6.20 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.27 |
0.29 |
0.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23 |
1.52 |
2.30 |
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 |
146.250 |
146.250 |
146.250 |
|
Reserves & Surplus |
285.500 |
345.109 |
420.185 |
|
Net
worth |
431.750 |
491.359 |
566.435 |
|
|
|
|
|
|
long-term borrowings |
23.748 |
21.254 |
18.233 |
|
Short term borrowings |
45.626 |
119.310 |
134.520 |
|
Total
borrowings |
69.374 |
140.564 |
152.753 |
|
Debt/Equity
ratio |
0.161 |
0.286 |
0.270 |
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 |
CORPORATE INFORMATION
Subject is a private company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is engaged in the manufacturing, designing and development of Test and Measuring Instruments and Industrial Control Products. The Company caters to both domestic and international markets.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG-TERM
BORROWINGS |
|
|
|
Rupee term loans from banks |
1.000 |
0.000 |
|
Rupee term loans from others |
0.000 |
2.000 |
|
Deferred sales tax loan |
17.233 |
19.254 |
|
|
|
|
|
SHORT-TERM
BORROWINGS |
|
|
|
Term loans from others |
54.880 |
51.530 |
|
Loans repayable on demand |
69.440 |
67.780 |
|
Loans and advances from directors |
10.200 |
0.000 |
|
Total |
152.753 |
140.564 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
80050741 |
22/06/2011 * |
534,800,000.00 |
STATE BANK OF INDIA |
SATPUR INDUSTRIAL AREA BRANCH, NASHIK - 422007, MAHARASHTRA, INDIA |
B16444341 |
* Date of charge modification
FINANCIAL
Growth has been marginal during the year which is @ 4% over the previous year, Profit after tax has gone up from 9.01% to 10.77%. This was primarily due to reduction/saving in finance cost and sub-contracting cost during the year.
FINANCE
The Company is very regular in paying interest on working capital loan to the banker.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2013 (Rs. in
millions) |
31.03.2012 (Rs. in
millions) |
|
Demand raised by not giving credit of tax deducted at source for AY 2001-02. The Company believes that demand is on account of errors and filed application for rectification of mistake with ITAT |
0.020 |
0.020 |
|
Demand notice raised on various disallowances /levy of taxes by excise authorities regarding excise duty and service tax for the period 2006 to 2012 |
11.612 |
11.290 |
|
Demand notice raised by custom authorities for the period 2006-08 |
0.732 |
0.732 |
|
Demand raised by Assistant Commissioner of Sales Tax, Nashik by reduction of set off for FY 2000-01 .Maharashtra Sales Tax Tribunal has remanded back the case to the Assessing Officer to rework the correct liability |
0.150 |
0.150 |
|
Demand notice raised by provident fund authorities for the period 2006-09 for the provident fund payable on trainees'' stipend |
6.077 |
6.077 |
|
Guarantee given on behalf of subsidiaries |
3.848 |
3.848 |
|
Financial bank guarantees |
0.000 |
0.232 |
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
Intangible Assets
· Computer Software
· Know-How
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
|
|
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.76.67 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
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 |
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 |
|
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.