MIRA INFORM REPORT
|
Report Date : |
11.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
GANON TRADING AND FINANCE COMPANY LIMITED |
|
|
|
|
Registered
Office : |
G-2, Ground Floor Prabha Co-Operative Housing Society, R. B. Mehta Marg, Near Canara Bank, Ghatkopar (East), Mumbai – 400077, Maharashtra |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
02.07.1985 |
|
|
|
|
Com. Reg. No.: |
11-036708 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.93.310 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L51900MH1985PLC036708 |
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|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Trader of Agro Commodities. |
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|
|
|
No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a moderate track record. The rating is constrained on account of company’s moderate financial
risk profile and low reserves of the company. However, trade relations are reported as fair. Business is active.
Payment terms are slow but correct. The company can be considered for business dealings with some caution.
NOTE: LISTING: Not traded on BSE in last 30 days. |
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.
EXTERNAL AGENCY RATING
NOT AVAILABLE
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 DENIED BY
|
Name : |
Mr. Kishore |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-22-25010506 |
|
Date : |
10.11.2014 |
LOCATIONS
|
Registered Office : |
G-2, Ground Floor Prabha Co-Operative Housing Society, R.
B. Mehta Marg, Near Canara Bank, Ghatkopar (East), Mumbai – 400077,
Maharashtra, India |
|
Tel. No.: |
91-22-25010506 |
|
Fax No.: |
91-22-25010508 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
Locality : |
Commercial |
DIRECTORS
As on: 31.03.2014
|
Name : |
Mr. Madan Lal Goyal |
|
Designation : |
Non- Executive |
|
|
|
|
Name : |
Mr. Hari Prasad Agarwal |
|
Designation : |
Non- Executive |
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|
|
|
Name : |
Mr. Manish Tiwari |
|
Designation : |
Non- Executive and Independent |
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|
|
|
Name : |
Mr. Dwarka Prasad Agarwal |
|
Designation : |
Non- Executive and Independent |
|
Date of Birth/Age : |
01.04.1970 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
24.03.2012 |
KEY EXECUTIVES
|
Name : |
Mr. Kuldeep |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2014
|
Category of
Shareholder |
Total
No. of Shares |
As a % |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
(1) Indian |
|
|
|
|
2356000 |
25.25 |
|
|
2356000 |
25.25 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
2356000 |
25.25 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
500000 |
5.36 |
|
|
|
|
|
|
62475 |
0.67 |
|
|
6412525 |
68.72 |
|
|
6975000 |
74.75 |
|
Total Public shareholding (B) |
6975000 |
74.75 |
|
Total (A)+(B) |
9331000 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
9331000 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Agro Commodities. |
|
|
|
|
Products : |
Agro Commodities |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
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|
|
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Exports : |
Not Divulged |
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|
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Imports : |
Not Divulged |
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|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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Customers : |
End Users |
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|
No. of Employees : |
15 (Approximately) |
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|
|
|
Bankers : |
|
|
|
|
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Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K. M. Tulsian and Associates Chartered Accountants |
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|
|
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Membership : |
-- |
|
|
|
|
Enterprise Having
same Key Management Personnel : |
SPG Multi Trade Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9331000 |
Equity Shares |
Rs.10/- each |
Rs.93.310 Millions |
|
|
|
|
|
·
Terms & Conditions
The Company has
only one class of equity shares having par value of Rs. 10/- per share. Each
holder of equity share is entitled to one vote per share. The Company declares and
pays dividend in Indian Rupees. The dividend proposed by the Board of Directors
is subject to the approval of the shareholders in the ensuing Annual General
Meeting.
In the event of
liquidation of the Company, the holder of equity shares will be entitled to
receive remaining assets of the Company, after distribution of all preferential
amounts. The distribution will be in proportion to the number of equity shares
held by the shareholders.
·
Shareholders
having more than 5 % shareholding
|
|
As at March 31, 2014 |
|
|
Name of Shareholder |
No of Equity
shares held |
Percentage |
|
Krishnamani Holdings Private Limited |
2,356,000 |
25.25% |
·
Reconciliation of
number of shares
|
|
As at March 31, 2014 |
|
|
Name of
Shareholder |
No of Equity shares
held |
Rs. In Millions |
|
Shares outstanding at the beginning of the year |
9331000 |
93.310 |
|
Shares Issued during the year |
-- |
-- |
|
Shares bought back during the year |
-- |
-- |
|
Shares outstanding at the end of the year |
9331000 |
93.310 |
·
Shares allotted for a consideration other than Cash
|
Particulars |
Year |
|
|
March
31, 2013 |
|
Fully paid up by way of bonus shares |
9030000 |
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 |
93.310 |
93.310 |
3.010 |
|
(b) Reserves & Surplus |
10.076 |
10.023 |
100.307 |
|
(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) |
103.386 |
103.333 |
103.317 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
472.924 |
0.115 |
0.003 |
|
(c) Other current liabilities |
0.011 |
0.035 |
0.040 |
|
(d) Short-term provisions |
0.503 |
0.000 |
0.095 |
|
Total
Current Liabilities (4) |
473.438 |
0.150 |
0.138 |
|
|
|
|
|
|
TOTAL |
576.824 |
103.483 |
103.455 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
0.000 |
0.000 |
0.000 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
91.500 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
11.321 |
11.578 |
11.493 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
102.821 |
11.578 |
11.493 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
473.358 |
1.408 |
0.000 |
|
(d) Cash and cash equivalents |
0.471 |
0.500 |
0.348 |
|
(e) Short-term loans and
advances |
0.174 |
89.997 |
91.614 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
474.003 |
91.905 |
91.962 |
|
|
|
|
|
|
TOTAL |
576.824 |
103.483 |
103.455 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
474.213 |
0.925 |
31.060 |
|
|
Other Income |
0.149 |
0.576 |
0.000 |
|
|
TOTAL
|
474.362 |
1.501 |
31.060 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Changes in Inventories |
0.000 |
0.000 |
0.506 |
|
|
Purchases of stock in trade |
472.711 |
0.000 |
0.000 |
|
|
Share issue and listing expenses |
0.000 |
0.090 |
0.000 |
|
|
Other expenses |
0.837 |
1.387 |
0.377 |
|
|
TOTAL
|
473.548 |
1.477 |
0.883 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
0.814 |
0.024 |
29.899 |
|
|
|
|
|
|
|
Less |
TAX |
0.325 |
0.008 |
3.173 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
0.489 |
0.016 |
26.726 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
10.023 |
100.307 |
73.581 |
|
|
|
|
|
|
|
Less
|
ISSUE
OF BONUS SHARE |
NA |
90.300 |
0.000 |
|
|
|
|
|
|
|
|
BALANCE
CARRIED TO THE B/S |
NA |
10.023 |
100.307 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.05 |
0.00 |
2.86 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
0.10 |
1.73 |
86.05 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
0.17 |
2.59 |
97.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.17 |
0.02 |
28.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.00 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.00 |
612.70 |
666.39 |
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 |
3.010 |
93.310 |
93.310 |
|
Reserves & Surplus |
100.307 |
10.023 |
10.076 |
|
Net
worth |
103.317 |
103.333 |
103.386 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
31.060 |
0.925 |
474.213 |
|
|
|
(97.022) |
51,166.270 |
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
|
31.060 |
0.925 |
474.213 |
|
Profit |
26.726 |
0.016 |
0.490 |
|
|
86.05% |
1.73% |
0.10% |
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 |
No |
|
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) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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: NO CHARGES EXIST
FOR COMPANY
OPERATING PERFORMANCE
During the year ended March 31, 2014, the Company achieved a Total Revenue aggregating to Rs.474.362 Millions. Total Expenses amounted to Rs.473.548 Millions. After providing for all the expenses including Taxation, the Company has earned a Net Profit of Rs.0.490 Millions which has been carried to the Balance Sheet.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
OUTLOOK:
The company is confident in spite of the possible recessionary conditions in the industry it will perform better in view of the strong fundamentals of the Indian companies and hope to improve its Turnover.
UNAUDITED FINANCIAL RESULTS FOR QUARTER ENDED 30.06.2014
(Rs. In Millions)
|
Particulars |
Quarter Ended ( Unaudited) |
|
|
30.06.2014 |
|
1.
Income from operations |
|
|
a) Net sales/ Income from operation (net of excise duty) |
0.000 |
|
b) Other operating income |
0.000 |
|
Total
income from Operations(net) |
0.000 |
|
2.Expenditure |
|
|
a) Purchase of stock-in-trade |
0.103 |
|
b) Professional Fees |
0.099 |
|
c) Other expenditure |
0.015 |
|
Total expenses |
0.217 |
|
3. Profit from operations before other income and
financial costs |
(0.217) |
|
4. Other income |
-- |
|
5. Profit from ordinary activities before finance costs |
(0.217) |
|
6. Finance costs |
-- |
|
7. Net profit/(loss) from ordinary activities
after finance costs but before exceptional items |
(0.217) |
|
8. Exceptional item |
-- |
|
9. Profit from ordinary activities before tax
Expense: |
(0.217) |
|
10.Tax expenses |
-- |
|
11.Net
Profit / (Loss) from ordinary activities after tax (9-10) |
(0.217) |
|
12.Extraordinary Items (net of tax expense) |
-- |
|
13.Net Profit / (Loss) for the period (11 -12) |
(0.217) |
|
14.Paid-up equity share capital (Nominal value Rs.10/- per share) |
93.310 |
|
15. Reserve excluding
Revaluation Reserves as per balance sheet of previous accounting year |
|
|
16.i) Earnings per share (before extraordinary
items) of Rs.10/- each) (not annualised): |
|
|
(a) Basic and diluted |
(0.00) |
|
|
|
|
A. Particulars of shareholding |
|
|
1. Public Shareholding |
|
|
- Number of shares |
6975000 |
|
- Percentage of shareholding |
74.75 |
|
2. Promoters and Promoters group Shareholding- |
|
|
a) Pledged /Encumbered |
|
|
Number of shares |
0.00 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
0.00 |
|
Percentage of shares (as a % of total share capital of the
company) |
0.00 |
|
|
|
|
b) Non Encumbered |
|
|
Number of shares |
2356000 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
100.00 |
|
Percentage of shares (as a % of total share capital of the
company) |
25.25 |
|
|
|
|
|
|
|
B.
Investor Complaints |
|
|
Pending at the beginning of the quarter |
-- |
|
Receiving during the quarter |
-- |
|
Disposed of during the quarter |
-- |
|
Remaining unreserved at the end of the quarter |
-- |
NOTES:
1. The above
results were reviewed by the Audit Committee and approved by the Board of
Director at their meetings held on August 14, 2014. The Auditors of the Company
have carried out Limited Review of the above financial result.
2. The
Board of Directors of the Company on February 01, 2013 approved a Composite
Scheme of Amalgamation under section 391 to 394 of Companies Ad, 1956 with SPG
Multi Trade Private Limited, Archana Hitech Consultants Limited and Vandana
Hitech Systems Limited with effect from April 01, 2012, being the Appointed
Date. No accounting impact of the came has been given in the above results as
the Scheme is pending approvals from various regulatory authorities.
3. Tax
expense includes Current Tax, Mat Credit Entitlement and Deferred Tax.
4. The figures
of the quarter ended March 31, 2014 are the balancing figures between audited
financial results for the year ended March 31, 2014 and the published financial
results for nine months ended December 31,2013.
5. The
above financial statements complies with the applicable Accounting Standards as
notified under the Companies (Accounting Standards) Rules, 2006.
6. The
Company has no reportable business segment a3 per Accounting Standard 17 Issued
by Companies (Accounting Standard Rules), 2006.
7. Figures
of the previous period I year have been reclassified/ regrouped wherever
necessary.
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.61.45 |
|
|
1 |
Rs.97.76 |
|
Euro |
1 |
Rs.76.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
27 |
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.