MIRA
INFORM REPORT
|
Report Date : |
02.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
CORE JEWELLERY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit Gj-4, SDF VII, Building Seepz, SEZ, Andheri (E), Mumbai-400096, |
|
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Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
16.11.1999 |
|
|
|
|
Com. Reg. No.: |
11-122665 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.42.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36911MH1999PTC122665 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC10175E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCC1946P |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Manufacturer of Jewellery. |
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|
|
|
No. of Employees
: |
Information Declined By The Management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
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 moderate track record. There seems dip in the sales turnover as well as profit of the company
during 2013. The rating also takes into consideration highly fragmented and
competitive gems and jewellery industry coupled with susceptibility of
profitability margins to foreign exchange fluctuations and volatile raw
material prices. However, trade relations are to be fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered for nosiness dealing with some cautions. |
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 |
CARE |
|
Rating |
Long term bank facilities = BB |
|
Rating Explanation |
Have moderate risk of default |
|
Date |
05.09.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities = A4 |
|
Rating Explanation |
Have minimal degree of safety and carry very high credit risk |
|
Date |
05.09.2014 |
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 DENIED BY
Management non co-operative
Tel No.: 91-22-40771000
LOCATIONS
|
Registered Office : |
Unit Gj-4, SDF VII, Seepz, Andheri (E), Mumbai-400096, |
|
Tel. No.: |
91-22- 40771000 |
|
Mobile No.: |
91-9819427042 (Mr.
Kamal Bhansali) |
|
Fax No.: |
91-22- 40771012 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 28.09.2013
|
Name : |
Mr. Kamalkumar Ratilal Bhansali |
|
Designation : |
Director |
|
Address : |
Prabha Rati Bunglow 1-A, Sett Minar Society Compound, 36 Peddar Road, Mumbai-400026,
Maharashtra, India. |
|
Date of Birth/Age : |
31.03.1955 |
|
Date of Appointment : |
16.11.1999 |
|
DIN No.: |
00731925 |
|
|
|
|
Name : |
Mrs. Anita Kamal Bhansali |
|
Designation : |
Director |
|
Address : |
Prabha Rati Bunglow 1-A, Sett Minar Society Compound, 36 Peddar Road,
Mumbai-400026, Maharashtra, India. |
|
Date of Birth/Age : |
16.11.1957 |
|
Date of Appointment : |
16.11.1999 |
|
DIN No.: |
00736245 |
|
|
|
|
Name : |
Mr. Vivek Shankar Jadhav |
|
Designation : |
Director |
|
Address : |
B/2, Kamdar Park, Gokhale Road, Dadar (West), Mumbai-400028,
Maharashtra, India. |
|
Date of Birth/Age : |
29.09.1963 |
|
Date of Appointment : |
07.04.2000 |
|
DIN No.: |
00760284 |
|
|
|
|
Name : |
Mr. Ashok Kumar Shah |
|
Designation : |
Additional Director |
|
Address : |
Flat No. 13, Plot No. 17, Varsha Buisling, V. B. Lane, Ghatkopar
(East), Mumbai – 400077, Maharashtra, India |
|
Date of Birth/Age : |
13.06.1957 |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
03309073 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Kamalkumar Ratilal Bhansali |
|
2481333 |
|
Anita Kamal Bhansali |
|
142918 |
|
Vivek Shankar Jadhav |
|
425000 |
|
Kamalkumar Ratilal Bhansali Jointly With Kamal Ratilal Bhansali |
|
653750 |
|
Anita Kamal Bhansali Jointly With Kamal Ratilal Bhansali |
|
508750 |
|
Karishma Niral Mehta |
|
38249 |
|
Total
|
|
4250000 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
|
|
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Jewellery. |
GENERAL INFORMATION
|
No. of Employees : |
Information Declined By The Management |
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Bankers : |
·
State Bank of India, Seepz Benach, Andheri
(East), Mumbai – 400096, Maharashtra, India ·
Bank of India, Seepz Branch, Andheri, Mumbai – 400096,
Maharashtra, India |
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Facilities : |
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Banking
Relations : |
--- |
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Auditors : |
|
|
Name : |
B. N. Vaidya and Associates Chartered Accountants |
|
Address : |
Ground/ 4th Floor, Vaidya Bhavan, 92, Atmaram Merchant Road
2, Anant Wadi, Mumbai – 400002, Maharashtra, India |
|
PAN No.: |
AABPV1159N |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4250000 |
Equity Shares |
Rs.10/- each |
Rs. 42.500
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 |
42.500 |
42.500 |
42.500 |
|
(b) Reserves & Surplus |
242.705 |
234.712 |
221.582 |
|
(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) |
285.205 |
277.212 |
264.082 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
2.254 |
2.452 |
1.947 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
19.342 |
12.826 |
12.938 |
|
Total Non-current Liabilities (3) |
21.596 |
15.278 |
14.885 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
241.152 |
214.725 |
198.957 |
|
(b) Trade payables |
74.422 |
87.667 |
157.129 |
|
(c) Other current
liabilities |
9.802 |
26.409 |
3.435 |
|
(d) Short-term provisions |
0.003 |
0.020 |
0.000 |
|
Total Current Liabilities (4) |
325.379 |
328.821 |
359.521 |
|
|
|
|
|
|
TOTAL |
632.180 |
621.311 |
638.488 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
46.759 |
50.719 |
48.139 |
|
(ii) Intangible Assets |
0.060 |
0.041 |
0.083 |
|
(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 |
0.500 |
0.500 |
0.500 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.424 |
0.635 |
0.613 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
49.743 |
51.895 |
49.335 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
221.437 |
239.262 |
225.869 |
|
(c) Trade receivables |
296.096 |
269.559 |
314.819 |
|
(d) Cash and cash
equivalents |
2.825 |
10.267 |
5.914 |
|
(e) Short-term loans and
advances |
62.079 |
50.328 |
42.551 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
582.437 |
569.416 |
589.153 |
|
|
|
|
|
|
TOTAL |
632.180 |
621.311 |
638.488 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
540.548 |
589.675 |
500.682 |
|
|
|
Other Income |
0.624 |
2.131 |
23.758 |
|
|
|
TOTAL (A) |
541.172 |
591.806 |
524.440 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
388.592 |
514.906 |
413.534 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
32.576 |
(33.321) |
(16.910) |
|
|
|
Employees benefits expense |
12.482 |
9.881 |
9.613 |
|
|
|
Other expenses |
56.048 |
54.215 |
63.135 |
|
|
|
TOTAL
(B) |
489.698 |
545.681 |
469.372 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
51.474 |
46.125 |
55.068 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
32.771 |
19.586 |
14.396 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
18.703 |
26.539 |
40.672 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
6.788 |
6.484 |
6.246 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
11.915 |
20.055 |
34.426 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.923 |
6.926 |
12.264 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
7.992 |
13.129 |
22.162 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
589.675 |
498.298 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
366.858 |
320.981 |
|
|
|
Stores & Spares |
NA |
7.482 |
5.056 |
|
|
|
Capital Goods |
NA |
0.000 |
0.665 |
|
|
TOTAL IMPORTS |
NA |
374.34 |
326.702 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
3.09 |
5.21 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.48 |
2.22 |
4.23 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.20 |
3.40 |
6.88 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.89 |
3.23 |
5.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04 |
0.07 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.85 |
0.77 |
0.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.79 |
1.73 |
1.64 |
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 |
42.500 |
42.500 |
42.500 |
|
Reserves & Surplus |
221.582 |
234.712 |
242.705 |
|
Net worth |
264.082 |
277.212 |
285.205 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
198.957 |
214.725 |
241.152 |
|
Total borrowings |
198.957 |
214.725 |
241.152 |
|
Debt/Equity ratio |
0.753 |
0.775 |
0.846 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
500.682 |
589.675 |
540.548 |
|
|
|
17.774 |
(8.331) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
500.682 |
589.675 |
540.548 |
|
Profit |
22.162 |
13.129 |
7.992 |
|
|
4.43% |
2.23% |
1.48% |
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 |
No |
|
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 |
UNSECURED LOAN
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
|
(Rs. In Millions) |
|
|
SHORT TERM
BORROWINGS: |
|
|
|
LOANS REPAYABLE
ON DEMAND |
|
|
|
FROM BANKS |
|
|
|
Bank overdraft |
0.257 |
0.000 |
|
Loans And
Advances From Related Parties |
|
|
|
Loans From Directors |
9.463 |
9.463 |
|
Total |
9.720 |
9.463 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10470929 |
16/12/2013 |
15,000,000.00 |
BANK OF INDIA |
SEEPZ MID CORPORATE BR,BEHIND SEEPZ SERVICE CENTRE, MAROL INDUSTRIAL AREA, SEEPZ,, MUMBAI, MAHARASHTRA - 400096, INDIA |
B93791903 |
|
2 |
90146146 |
08/05/2014 * |
334,000,000.00 |
STATE BANK OF INDIA |
SEEPZ BRANCH, ANDHERI (EAST),, MUMBAI, MAHARASHTRA - 400096, INDIA |
C05259940 |
REVIEW OF OPERATIONS
Income resulting from sale of product and
other income amounted to Rs. 541.172 Millions during the year ended 31st
March, 2013. Expenses for the year stood at Rs. 529.256 Millions resulting in a
net profit Rs. 7.993 Millions during the financial year.
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the untiring
and unflagging efforts of the Indian diamantaires, supported by progressive
Government policies.
-
The area of study of family owned diamond businesses derives its
importance from the huge conglomerate of family run organizations which operate
in the diamond industry since many generations.
-
Some of the basic traits of family run business enterprises include
spirit of entrepreneurship, mutual trust lowers transaction costs, small,
nimble and quick to react, information as a source of advantage and
philanthropy.
-
Family owned diamond businesses need to improve on many fronts including
higher standard of corporate governance, long-term performance – focused
strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process,
several public sector banks lost several hundred million rupees. They mostly diverted
borrowed money for diamond business into real estate and capital markets.
-
Excerpts from Times of India dated 30th October 2010 is as
under –
-
Gem & Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A
senior executive of GJEPC said, “Export of cut and polished diamonds started
falling month-wise after the imposition of 2 % of import duty on the polished
diamonds. But February, 2013 has given a new ray of hope to the industry as the
export of polished diamonds has actually increased by 28 %. It means the
industry is on the track of recovery and round tripping of diamonds has
stopped completely.” Demand has started coming from the US, the UK, Japan and
China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
-
The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector.
This follows the implementation of Basel III accord – a global voluntary
regulatory standard on bank capital adequacy, stress testing and market liquidity.
FIXED ASSETS
- Factory Buildings
- Plant and Machinery
- Air Conditioners
- Weighing Scale
- Computers
- Electrical Fittings
- Equipments
- Furniture and Fixtures
- Tele Systems
- Vehicles
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.61.75 |
|
|
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
JAY |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.