MIRA INFORM REPORT
|
Report Date : |
17.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
K PATEL METAL INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-101, Alaknanda, Annasahab Vartak Marg, Borivali (West), Mumbai -
400092, Maharashtra |
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|
|
|
Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
15.07.1992 |
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Com. Reg. No.: |
11-067720 |
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Capital
Investment / Paid-up Capital : |
Rs. 5.000 Millions |
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|
|
|
CIN No.: [Company Identification
No.] |
U27201MH1992PTC067720 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMK04746A |
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|
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PAN No.: [Permanent Account No.] |
AAACK8863C |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Insulated Copper Winding Wire and Strips. |
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No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of continuous losses incurred by
the company. However, trade relations are reported as fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered for business dealings with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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-term rating: “BB-” |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
15.05.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short-term rating: “A4+” |
|
Rating Explanation |
Minimal degree of safety. It carry very high
credit risk. |
|
Date |
15.05.2014 |
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 PARTED BY
|
Name : |
Mr. Avinash Prabhu |
|
Designation : |
Manager |
|
Contact No.: |
91-22-28994142 |
|
Date : |
15.11.2014 |
LOCATIONS
|
Registered Office : |
A-101, Alaknanda, Annasahab Vartak Marg, Borivali (West), Mumbai -
400092, Maharashtra, India |
|
Tel. No.: |
91-22-28994142 |
|
Fax No.: |
91-22-28986067 |
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E-Mail : |
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|
Website : |
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Marketing Office : |
Siddharth Arcade, 5th Floor, Above HSBC, L. T. Road, Borivali
(West), Mumbai – 400092, Maharashtra, India |
|
Tel. No.: |
91-22-28334142 |
|
Fax No.: |
91-22-28990583 |
|
E-Mail : |
|
|
|
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|
Factory : |
143/K, Amalia, Dabhel, Nani Daman – 396210, Daman and Diu (UT), India |
|
Tel. No.: |
91-260-2244973 |
|
Fax No.: |
91-260-2241968 |
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E-Mail : |
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Sales Offices : |
Located at · Nashik · Ghaziabad · Faridabad · Bangalore |
DIRECTORS
As on 12.08.2014
|
Name : |
Mr. Jitendra Meghji Patel |
|
Designation : |
Director |
|
Address : |
9, Avkar, Adarsh, Dugdhalaya Lane, Off. Marve Road, Malad (West), Mumbai – 400064, Maharashtra , India |
|
Date of Birth/Age : |
05.06.1958 |
|
Date of Appointment : |
15.07.1992 |
|
DIN No.: |
00028001 |
|
|
|
|
Name : |
Mr. Girish Meghji Patel |
|
Designation : |
Director |
|
Address : |
9, Avkar, Adarsh, Dugdhalaya Lane, Off. Marve Road, Malad (West), Mumbai – 400064, Maharashtra , India |
|
Date of Birth/Age : |
08.05.1961 |
|
Date of Appointment : |
15.07.1992 |
|
DIN No.: |
00028052 |
|
|
|
|
Name : |
Mr. Nilesh Gopal Patel |
|
Designation : |
Director |
|
Address : |
9, Avkar, Adarsh, Dugdhalaya Lane, Off. Marve Road, Malad (West), Mumbai – 400064, Maharashtra , India |
|
Date of Birth/Age : |
11.05.1971 |
|
Date of Appointment : |
15.07.1992 |
|
DIN No.: |
00028138 |
|
|
|
|
Name : |
Mr. Hitesh Gopal Patel |
|
Designation : |
Director |
|
Address : |
9, Avkar, Adarsh, Dugdhalaya Lane, Off. Marve Road, Malad (West), Mumbai – 400064, Maharashtra , India |
|
Date of Birth/Age : |
22.12.1972 |
|
Date of Appointment : |
15.07.1992 |
|
DIN No.: |
00086810 |
|
|
|
|
Name : |
Mr. Meghji Kanji Patel |
|
Designation : |
Director |
|
Address : |
9, Avkar, Adarsh, Dugdhalaya Lane, Off. Marve Road, Malad (West), Mumbai – 400064, Maharashtra , India |
|
Date of Birth/Age : |
19.08.1936 |
|
Date of Appointment : |
15.07.1992 |
|
DIN No.: |
00087150 |
KEY EXECUTIVES
|
Name : |
Mr. Avinash Prabhu |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 12.08.2014
|
Names of Shareholders |
No. of Shares |
|
Jitendra Meghji Patel |
83200 |
|
Girish Meghji Patel |
83250 |
|
Nilesh Gopalbhai Patel |
87700 |
|
Hitesh Gopalbhai Patel |
87750 |
|
Meghjibhai K Patel |
69500 |
|
Gopalbhai K Patel |
60800 |
|
Damayantiben M Patel |
4500 |
|
Shantaben G Patel |
4500 |
|
Punita J Patel |
4500 |
|
Rekha G Patel |
4500 |
|
Meghjibhai Patel and other (new) |
500 |
|
K Patel Chemo Pharma Private Limited, India |
100 |
|
K Patel and Company Private Limited, India |
100 |
|
Varsha Nilesh Patel |
4500 |
|
Kavita Hitesh Patel |
4500 |
|
K Patel Dyechem Industries Private limited, India |
100 |
|
Total |
500000 |
As on 12.08.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Insulated Copper Winding Wire and Strips. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
· UK · Singapore |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Dubai |
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Terms : |
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Selling : |
Cash, Cheque and Credit |
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Purchasing : |
Cash, Cheque and Credit |
GENERAL INFORMATION
|
Suppliers : |
Indalco. Industries Limited Contact Person: Mr. Rahul Doshi (Marketing Manager) Contact No.: 91-8652262226 Since How Long Known: 5 Years Experience : Good Maximum Limit Dealt: Rs. 80.000 Millions |
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Customers : |
Prabha Engineering Private Limited Contact Person: Mr. Poojan (Purchase Manger) Contact No.: 91-9223587828 Since How Long Known: 20 Years Experience : Very Good Maximum Limit Dealt: Rs. 1.500 – 2.000 Millions |
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No. of Employees : |
40 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
Kiran Desai and Associates Chartered Accountants |
|
Address : |
505, Knox Plaza Mind Space, Off Link Road, Malad (West), Mumbai – 400064, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAEPD2161R |
CAPITAL STRUCTURE
As on 12.08.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000
Millions |
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|
|
|
|
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 |
5.000 |
5.000 |
5.000 |
|
(b) Reserves & Surplus |
34.985 |
50.178 |
58.695 |
|
(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) |
39.985 |
55.178 |
63.695 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
45.789 |
48.361 |
57.175 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
2.150 |
|
(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) |
45.789 |
48.361 |
59.325 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
236.929 |
254.042 |
207.161 |
|
(b) Trade
payables |
50.309 |
49.142 |
40.306 |
|
(c) Other
current liabilities |
15.027 |
14.607 |
11.507 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.011 |
|
Total Current
Liabilities (4) |
302.265 |
317.791 |
258.985 |
|
|
|
|
|
|
TOTAL |
388.039 |
421.330 |
382.005 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
58.661 |
63.281 |
65.441 |
|
(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 |
0.006 |
0.006 |
0.006 |
|
(c) Deferred tax assets (net) |
4.093 |
1.615 |
0.000 |
|
(d) Long-term Loan and Advances |
4.736 |
1.257 |
0.609 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
67.496 |
66.159 |
66.056 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
99.258 |
96.147 |
99.592 |
|
(c) Trade
receivables |
196.199 |
238.079 |
199.543 |
|
(d) Cash
and cash equivalents |
8.944 |
7.295 |
5.532 |
|
(e)
Short-term loans and advances |
14.548 |
11.658 |
8.244 |
|
(f) Other
current assets |
1.594 |
1.992 |
3.038 |
|
Total
Current Assets |
320.543 |
355.171 |
315.949 |
|
|
|
|
|
|
TOTAL |
388.039 |
421.330 |
382.005 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
912.092 |
|
|
|
|
|
Other Income |
NA |
|
|
|
|
|
TOTAL (A) |
NA |
100.314 |
103.542 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Cost of Materials Consumed |
|
|
851.544 |
|
|
|
(Increase)/Decrease in Inventories of Finished Goods and
Work-in-Progress |
|
|
-27.028 |
|
|
|
Employees benefits expense |
|
|
23.320 |
|
|
|
Other expenses |
|
|
53.603 |
|
|
|
TOTAL (B) |
NA |
112.596 (Including
Financial and Depreciation Expenses) |
901.439 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (A-B) (C) |
|
|
47.612 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
35.036 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
12.576 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
10.010 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
(17.672) |
(12.282) |
2.566 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(2.479) |
(3.765) |
1.207 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(15.193) |
(8.517) |
1.359 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
86.490 |
59.023 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(30.39) |
(17.03) |
2.72 |
|
Expected Sales (2014-2015): Rs. 1000.000 Millions
The above information has been parted by Mr. Avinash Prabhu (Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(1.67) |
NA |
0.14 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
NA
|
NA |
5.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.60) |
(2.93) |
0.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.44) |
(0.22) |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
7.07 |
5.48 |
4.15 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06 |
1.12 |
1.22 |
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 |
5.000 |
5.000 |
5.000 |
|
Reserves & Surplus |
58.695 |
50.178 |
34.985 |
|
Net
worth |
63.695 |
55.178 |
39.985 |
|
|
|
|
|
|
long-term borrowings |
57.175 |
48.361 |
45.789 |
|
Short term borrowings |
207.161 |
254.042 |
236.929 |
|
Total
borrowings |
264.336 |
302.403 |
282.718 |
|
Debt/Equity
ratio |
4.150 |
5.480 |
7.071 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
|
|
|
|
|
Current Maturities of Long Term Debts |
NA |
0.000 |
0.000 |
|
|
|
|
|
|
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 |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10274313 |
07/08/2014 * |
264,200,000.00 |
BANK OF BARODA |
SIR P M ROAD BRANCH, LAXMI INSURANCE BUILDING, GROUND FLOOR, SIR P M ROAD, MUMBAI, MAHARASHTRA - 400001, INDIA |
C19028273 |
|
2 |
90184092 |
27/11/2003 * |
54,703,000.00 |
BANK OF BARODA |
SIR P.M. ROAD BRANCH, LAXMI INSURANCE BLDG.; P.B. NO. 1297, BOMBAY, MAHARASHTRA - 400001, INDIA |
- |
|
3 |
90186450 |
25/04/1997 |
250,650.00 |
BANK OF BARODA |
LAXMI INSURANCE
BUILDING; GROUND FLOOR, SIR P.M. |
- |
|
4 |
90184021 |
08/10/1995 |
1,500,000.00 |
BANK OF BARODA |
LEGAL INSURANCE BUILDING, SIR P.M. ROAD BRANCH, BOMBAY, MAHARASHTRA - 400001, INDIA |
- |
|
5 |
90184020 |
04/10/1999 * |
1,500,000.00 |
BANK OF BARODA |
SIR P.M. ROAD
BRANCH; LAXMI INSURANCE BUILDING, GROUND FLOOR; SIR. P.M. ROAD, BOMBAY,
MAHARASHTRA - |
- |
|
6 |
90186241 |
10/07/1996 * |
3,000,000.00 |
BANK OF BARODA |
LAXMI INSURANCE
BUILDING; GROUND FLOOR, SIR P.M. |
- |
|
7 |
90186152 |
20/12/1994 |
1,075,000.00 |
BANK OF BARODA |
SIR P.M. ROAD BRANCH, LAXMI INSURANCE BLDG., BOMBAY, MAHARASHTRA - 400001, INDIA |
- |
|
8 |
90183982 |
10/07/1996 * |
1,500,000.00 |
BANK OF BARODA |
SIR P.M. ROAD
BRANCH; LAXMI INSURANCE BUILDING, GROUND FLOOR; SIR. P.M. ROAD, BOMBAY,
MAHARASHTRA - |
- |
|
9 |
90185905 |
05/04/2010 * |
189,040,359.00 |
BANK OF BARODA |
SIR, P. M. ROAD
BRANCH, LAXMI INSURANCE BUILDING, |
A85423747 |
|
10 |
90184925 |
05/10/1995 * |
1,075,000.00 |
BANK OF BARODA |
LEGAL INSURANCE BUILDING, SIR P.M. ROAD BRANCH, BOMBAY, MAHARASHTRA - 400001, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Intercorporate deposits |
21.000 |
21.000 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Other loans and advances, others |
39.102 |
60.199 |
|
Total |
60.102 |
81.199 |
FIXED ASSETS
Tangible Assets
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Office Equipment
· Computer Equipments
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.61.65 |
|
|
1 |
Rs.96.54 |
|
Euro |
1 |
Rs.76.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.