MIRA INFORM REPORT
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Report Date : |
28.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
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Formerly Known
As : |
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Registered
Office : |
Gut No. 48, Adjacent to MIDC, Phase II, Daregaon, Jalna – 431203,
Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
05.04.2002 |
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Com. Reg. No.: |
11-135427 |
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Capital Investment
/ Paid-up Capital : |
Rs. 71.301 Millions |
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CIN No.: [Company Identification
No.] |
U27101MH2002PTC135427 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of TMT rebars and steel billets. |
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No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1400000 |
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Status : |
Satisfactory |
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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 satisfactory track record. Profitability of the company has declined during financial year 2014. However, the rating takes into consideration established track record
of promoters in steel industry supported by sound financial base and fair
liquidity position of the company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered 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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
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 |
ICRA |
|
Rating |
Long term fund based limits - Term loan: BB+ |
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Rating Explanation |
Moderate risk of default and high credit risk. |
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Date |
August 2013 |
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Rating Agency Name |
ICRA |
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Rating |
Short term non fund based limits: A4+ |
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Rating Explanation |
Minimal degree at safety and very high credit risk. |
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Date |
August 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Nitin Bahehi |
|
Designation : |
Accounts Manager |
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Contact No.: |
91-9552316811 |
|
Date : |
25.11.2014 |
LOCATIONS
|
Registered Office / Factory: |
Gut No. 48, Adjacent to MIDC, Phase II, Daregaon, Jalna – 431203,
Maharashtra, India |
|
Tel. No.: |
91-2482-220036/220112 |
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Mobile No.: |
91-8888824481 (Mr. Santosh Khawate) 91-9850963952 (Mr. Nilesh - Export) 91-9552316811 (Mr. Nitin) |
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Fax No.: |
91-2482-221132/220088 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Branch Office: |
203, Gokul Building, Baroda Street, Masjid East, Mumbai – 400009,
Maharshtra, India |
DIRECTORS
AS ON 16.08.2013
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Name : |
Mr. Ashish Jugalkishore Bhala |
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Designation : |
Director |
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Address : |
Mamata Hospital, Shivaji Statute Road, Jalna – 431203, Maharashtra,
India |
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Date of Birth/Age : |
25.03.1975 |
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Date of Appointment : |
15.09.2008 |
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DIN No. : |
00171086 |
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Other Directorship :
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Name : |
Mr. Pankajkumar Kesharchand Patodi |
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Designation : |
Additional Director |
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Address : |
C/O SMT Patodi Sangeeta Kesharchand H No. 114, J.V.B. Housing Society,
Jai Vishwabharati Colony |
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Date of Birth/Age : |
07.04.1980 |
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Date of Appointment : |
25.06.2014 |
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DIN No. : |
00302438 |
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Other Directorship :
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Name : |
Mr. Dwarkaprasad Bhikulalji Soni |
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Designation : |
Managing Director |
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Address : |
H. No. 13, Manik Nagar, Near Sambhaji Nagar, Jalna – 431203, Maharashtra, India |
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Date of Birth/Age : |
04.06.1966 |
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Date of Appointment : |
25.06.2014 |
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DIN No. : |
00349479 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Nitin Bahehi |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
As on 16.08.2013
Shareholding details filed attached
As on 16.08.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
81.30 |
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Directors or relatives of Directors |
18.70 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of TMT rebars and steel billets. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS: Not Available
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Exporters |
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No. of Employees : |
400 (Approximately) |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
S M Bangad and Company Chartered Accountants |
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Address : |
Tapdiya, Terrec, Adalat Road , Aurangabad, Maharashtra, India |
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Pan No.: |
AAMFS9561J |
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Other Related Parties: |
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CAPITAL STRUCTURE
As on 16.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
|
500000 |
Preference Shares |
Rs.100/- each |
Rs.50.000 Millions |
|
|
Total |
|
Rs.75.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2130100 |
Equity Shares |
Rs.10/- each |
Rs. 21.301 Millions |
|
500000 |
Preference Shares |
Rs.100/- each |
Rs. 50.000 Millions |
|
|
Total |
|
Rs.71.301
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 |
71.301 |
38.551 |
37.817 |
|
(b) Reserves &
Surplus |
446.414 |
204.671 |
167.043 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
168.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
517.715 |
411.222 |
204.860 |
|
|
|
|
|
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(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
303.580 |
76.762 |
87.086 |
|
(b) Deferred tax
liabilities (Net) |
25.646 |
13.930 |
10.824 |
|
(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) |
329.226 |
90.692 |
97.910 |
|
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|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
241.258 |
129.941 |
104.095 |
|
(b) Trade payables |
168.362 |
83.118 |
114.905 |
|
(c) Other current
liabilities |
109.168 |
60.864 |
33.757 |
|
(d) Short-term provisions |
14.503 |
9.851 |
14.112 |
|
Total Current Liabilities
(4) |
533.291 |
283.774 |
266.869 |
|
|
|
|
|
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TOTAL |
1380.232 |
785.688 |
569.639 |
|
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|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
378.541 |
209.982 |
95.541 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
514.246 |
92.936 |
48.761 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
6.539 |
6.539 |
7.139 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.258 |
1.220 |
1.220 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.105 |
|
Total Non-Current Assets |
900.584 |
310.677 |
152.766 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
10.962 |
9.037 |
20.617 |
|
(b) Inventories |
142.027 |
150.886 |
138.725 |
|
(c) Trade receivables |
221.602 |
259.018 |
186.087 |
|
(d) Cash and cash
equivalents |
70.303 |
26.920 |
20.849 |
|
(e) Short-term loans and
advances |
34.754 |
29.150 |
50.595 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
479.648 |
475.011 |
416.873 |
|
|
|
|
|
|
TOTAL |
1380.232 |
785.688 |
569.639 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
|
Income |
|
|
|
|
|
Other Income |
|
|
|
|
|
TOTAL (A) |
2444.122 |
2354.579 |
2438.615 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
Purchases of
Stock-in-Trade |
|
|
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
|
|
|
|
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Employees benefits
expense |
|
|
|
|
|
Other expenses |
|
|
|
|
|
TOTAL (B) |
2357.655 |
2287.034 |
2366.488 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
86.467 |
67.545 |
72.127 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
26.468 |
12.984 |
20.695 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION (C-D) (E) |
59.999 |
54.561 |
51.432 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
19.187 |
9.841 |
8.908 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
40.812 |
44.720 |
42.524 |
|
|
|
|
|
|
|
Less |
TAX (H) |
20.279 |
14.197 |
14.565 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
20.533 |
30.523 |
27.959 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD (J) |
132.637 |
108.526 |
91.778 |
|
|
|
|
|
|
|
Add |
PRIOR
PERIOD INCOME (K) |
(0.648) |
0.955 |
0.000 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
2.500 |
2.500 |
3.800 |
|
|
Preference Share Dividend |
1.250 |
1.250 |
1.250 |
|
|
Proposed Equity Dividend |
0.641 |
2.563 |
5.127 |
|
|
Tax on Dividend |
0.321 |
0.619 |
1.034 |
|
|
Total (L) |
4.712 |
6.932 |
11.211 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S (I+J+K-L) |
147.810 |
133.072 |
108.526 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
13.01 |
23.08 |
20.84 |
Expected Sales (2014-2015): Rs. 3350.000 Millions
The above information has been parted by Mr. Nitin Bahehi (Accounts
Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin (PAT / Sales) |
(%) |
0.84 |
1.30 |
1.15 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
3.54 |
2.87 |
2.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.75 |
6.52 |
8.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.11 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.05 |
0.50 |
0.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.90 |
1.67 |
1.56 |
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 |
37.817 |
38.551 |
71.301 |
|
Reserves & Surplus |
167.043 |
204.671 |
446.414 |
|
Share Application money
pending allotment |
0.000 |
168.000 |
0.000 |
|
Net worth |
204.860 |
411.222 |
517.715 |
|
|
|
|
|
|
long-term borrowings |
87.086 |
76.762 |
303.580 |
|
Short term borrowings |
104.095 |
129.941 |
241.258 |
|
Total borrowings |
191.181 |
206.703 |
544.838 |
|
Debt/Equity ratio |
0.933 |
0.503 |
1.052 |
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 |
2438.615 |
2354.579 |
2444.122 |
|
|
|
-3.446 |
3.803 |
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 |
2438.615 |
2354.579 |
2444.122 |
|
Profit |
27.959 |
30.523 |
20.533 |
|
|
1.15% |
1.30% |
0.84% |
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 |
Yes |
Note:
The Registered office of the company has been shifted Mamta Hospital Complexshivaji Statute Jalna – 431203, Maharashtra, India to the present address w.e.f. 28.04.2006
REVIEW OF OPERATION:
In FY 2013-14 the global economy showed signs of recovery with growth in demand from the developed countries in the second half of the year. Emerging markets including India had to face multiple challenges of rising current account deficit, depreciation of the local currency and additional pressure due to capital inflows. It's a project phase this year.
Despite domestic challenges, Meta Rolls continued its growth path. The company achieved a record revenue of Rs. 2444.122 Millions, as compared to the previous year?s figures of Rs. 2354.579 Millions. The company has earned Cash Profit of Rs. 59.999 Millions as compared to previous year?s cash profit of Rs. 54.561 Millions. The company has earned a Profit before taxation of Rs. 40.812 Millions as compared to the previous year Profit of Rs. 44.720 Millions.
VIEW INDEX OF
CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10501546 |
13/05/2014 |
446,000,000.00 |
Bank of India Pune Mid Corporate Branch |
Mid Corp Branch, at 1162/6, Shivajinagar University Road, PUNE, Maharashtra - 411005, INDIA |
C05931324 |
|
2 |
10501561 |
13/05/2014 |
613,000,000.00 |
Bank of India Pune Mid Corporate Branch |
MID CORPORATE BRANCH, at 1162/6, Shivajinagar University Road, PUNE, Maharashtra - 411005, INDIA |
C05939863 |
|
3 |
10484698 |
22/02/2014 |
15,000,000.00 |
Bank of India MIDCORP BRANCH |
Near Hardikar Hospital, 1162/6, SHIVAJINAGAR, Pune, Maharashtra - 411005, INDIA |
C00443499 |
|
4 |
10397176 |
13/12/2012 |
180,000,000.00 |
Bank of India Mid Corp Branch |
1162/6, Near
Hardikar Hospital, University Road, |
B65958498 |
|
5 |
10331037 |
16/01/2012 |
390,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, JAGGI'S BUILDING, KRANTI CHOWK, AURANGABAD, Maharashtra - 431005, INDIA |
B30330930 |
|
6 |
10332462 |
13/01/2012 |
390,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, JAGGI'S BUILDING, KRANTI CHOWK, AURANGABAD, Maharashtra - 431005, INDIA |
B30783971 |
|
7 |
10188247 |
13/12/2012 * |
380,000,000.00 |
Bank of India Mid Corp Branch |
1162/6,Shivaji Nagar Near Hardikar Hospital, University Road, Shivaji Nagar, Pune, Maharashtra - 411005, INDIA |
B65960981 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Intercorporate deposits |
121.783 |
50.807 |
|
Loans and advances from related parties |
38.590 |
3.408 |
|
Total |
160.373 |
54.215 |
FIXED ASSETS
- Land
- Buildings
- Office building
- Factory building
- Plant and equipment
- Factory equipments
- Other plant and equipment
- Furniture and fixtures
- 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. 61.86 |
|
|
1 |
Rs. 97.69 |
|
Euro |
1 |
Rs. 77.37 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TRU |
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 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
42 |
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.