MIRA INFORM REPORT
|
Report Date : |
02.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
T & I GLOBAL LIMITED |
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Registered
Office : |
11, Jassal House, 4A, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
31.01.1991 |
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Com. Reg. No.: |
21-050797 |
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Capital
Investment / Paid-up Capital : |
Rs.50.677 Millions |
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CIN No.: [Company Identification
No.] |
L29130WB1991PLC050797 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALT02964D |
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PAN No.: [Permanent Account No.] |
AAACT8460G |
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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
: |
Manufacturers and exporters of tea processing machinery. |
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|
No. of Employees
: |
753 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 800000 |
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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. There seems some dip in the turnover and sharp decline in the profit
of the company during 2014 however, general financial position of the company
is normal and acceptable for business dealings. Trade relations are reported as affair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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.
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
Management Non Co-operative (91-33-22833613 / 30283629)
LOCATIONS
|
Registered / Corporate Office : |
11, Jassal House, 4A, Auckland Square, Kolkata – 700017, West Bengal,
India |
|
Tel. No.: |
91-33-22833613 / 30283626 / 30283629 |
|
Fax No.: |
91-33-22833612 |
|
E-Mail : |
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|
Website : |
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Plantation Office/ Factory : |
Mainak Hills Tea Estate, Changrabandha – 735301, Coochbehar, West
Bengal, India |
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Manufacturing Unit : |
Located At: ·
Kolkata ·
West Bengal ·
Tamilnadu |
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Engineering Division : |
44A, Benaras Road, Howrah – 711101, West Bengal, India |
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Branches : |
18, SIDCO Industrial Estate, Coimbatore – 641021, Tamilnadu, India |
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Tel. No.: |
91-422-2674814 / 5 |
|
Fax No.: |
91-422-2673974 |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Sajjan Bagaria |
|
Designation : |
Executive Chairman |
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|
|
|
Name : |
Vineet Bagaria |
|
Designation : |
Managing Director |
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|
Name : |
Viraj Bagaria |
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Designation : |
Director |
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|
Name : |
Debi Prasad Bagrodia |
|
Designation : |
Director |
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|
Name : |
Harish Mittal |
|
Designation : |
Director |
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|
Name : |
Manish Kumar Newar |
|
Designation : |
Director |
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|
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|
Name : |
Kalyan Kumar Nanda |
|
Designation : |
Executive Director (Marketing) |
KEY EXECUTIVES
|
Name : |
Vishnu Baheti |
|
Designation : |
Chief Finance Officer |
SHAREHOLDING PATTERN
AS ON 30.06.2014
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1381155 |
27.25 |
|
|
1360926 |
26.85 |
|
|
2742081 |
54.11 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
2742081 |
54.11 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
100000 |
1.97 |
|
|
100000 |
1.97 |
|
|
|
|
|
|
458772 |
9.05 |
|
|
|
|
|
|
1144912 |
22.59 |
|
|
621935 |
12.27 |
|
|
2225619 |
43.92 |
|
Total Public shareholding (B) |
2325619 |
45.89 |
|
Total (A)+(B) |
5067700 |
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) |
5067700 |
0.00 |
(1) Indian
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and exporters of tea processing machinery. |
GENERAL INFORMATION
|
No. of Employees : |
753 (Approximately) |
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Bankers : |
· Standard Chartered Bank, 19, N.S. Road, Kolkata – 700001, West Bengal, India · The Hongkong and Shanghai Banking Corporation Limited, Hongkong House 31, B.B.D. Bag, Kolkata – 700001, West Bengal, India |
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Facilities : |
NOTES: SHORT TERM
BORROWINGS 1.
Working Capital Loans from Standard Chartered
bank and HSBC Bank are secured by hypothecation of stocks, Book debts and personal
Guarantee of the Directors of the company. 2.
Working Capital Loans from Standard Chartered
bank are secured by hypothecation of stocks, Book debts and personal
Guarantee of the Directors of the company. |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Tiwari & Company Chartered Accountants |
|
Address : |
107/1, Park Street, Kolkata – 700016, West Bengal, India |
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 |
|
|
|
|
|
|
5067700 |
Equity Shares |
Rs. 10/- each |
Rs.50.677 Millions |
|
|
|
|
|
·
Details of shares
in the company held by each shareholder holding more than 5 per cent shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
T & I Projects Limited |
686390 |
13.54 |
|
Chaman Exports Limited |
490467 |
9.67 |
|
Sangeet Bagaria |
361510 |
7.13 |
|
Indu Bagaria |
351507 |
6.94 |
|
Sajjan Bagaria |
303310 |
5.98 |
·
The Company has only one class of Equity Share
having a par value of Rs.10/- per share. Each shareholder of Equity Share is entitled
to one vote. In the event of the liquidation of the Company equity shareholders
are eligible to receive the remaining assets of the company after distribution
of all preferential amount in proportion to their shareholding.
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 |
50.677 |
50.677 |
50.677 |
|
(b) Reserves & Surplus |
149.666 |
147.696 |
127.450 |
|
(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) |
200.343 |
198.373 |
178.127 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
2.641 |
2.154 |
0.267 |
|
(b) Deferred tax liabilities (Net) |
1.222 |
2.159 |
2.183 |
|
(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) |
3.863 |
4.313 |
2.450 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
33.404 |
47.644 |
17.158 |
|
(b) Trade payables |
126.319 |
108.076 |
70.149 |
|
(c) Other current
liabilities |
106.158 |
78.690 |
93.879 |
|
(d) Short-term provisions |
5.036 |
3.398 |
3.338 |
|
Total Current Liabilities (4) |
270.917 |
237.808 |
184.524 |
|
|
|
|
|
|
TOTAL |
475.123 |
440.494 |
365.101 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
189.304 |
179.727 |
165.162 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
6.912 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
5.065 |
9.592 |
10.167 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4.721 |
5.314 |
6.765 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
206.002 |
194.633 |
182.094 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
22.500 |
45.016 |
|
(b) Inventories |
49.193 |
31.555 |
25.030 |
|
(c) Trade receivables |
125.344 |
148.648 |
54.911 |
|
(d) Cash and cash
equivalents |
52.250 |
5.334 |
24.632 |
|
(e) Short-term loans and
advances |
42.334 |
37.824 |
33.418 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
269.121 |
245.861 |
183.007 |
|
|
|
|
|
|
TOTAL |
475.123 |
440.494 |
365.101 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
670.000 |
735.717 |
590.808 |
|
|
|
|
Other Income |
6.728 |
13.559 |
3.735 |
|
|
|
|
TOTAL (A) |
676.728 |
749.276 |
594.543 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
154.260 |
175.062 |
205.582 |
|
|
|
|
Purchase of Stock-in-trade |
314.610 |
335.734 |
191.314 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(12.834) |
(6.101) |
5.772 |
|
|
|
|
Cultivation Expenses |
45.119 |
36.065 |
28.489 |
|
|
|
|
Other Manufacturing Expenses |
38.526 |
40.693 |
33.393 |
|
|
|
|
Employee Benefit Expenses |
32.306 |
29.423 |
22.795 |
|
|
|
|
Selling Expenses |
48.807 |
65.614 |
53.238 |
|
|
|
|
Establishment & Miscellaneous Expenses |
25.042 |
28.981 |
25.830 |
|
|
|
|
Foreign Currency Fluctuation |
3.263 |
1.058 |
2.809 |
|
|
|
|
Donation |
4.100 |
0.000 |
0.536 |
|
|
|
|
TOTAL (B) |
653.199 |
706.529 |
569.758 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
23.529 |
42.747 |
24.785 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
2.799 |
1.247 |
1.248 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
20.730 |
41.500 |
23.537 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
7.456 |
7.333 |
6.087 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
13.274 |
34.167 |
17.450 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
8.360 |
10.976 |
7.784 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
4.914 |
23.191 |
9.666 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
69.660 |
49.413 |
42.692 |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Proposed Dividend |
2.534 |
2.533 |
2.534 |
|
|
|
|
Corporate dividend tax on proposed
dividend |
0.411 |
0.411 |
0.411 |
|
|
|
BALANCE CARRIED
TO THE B/S |
71.629 |
69.660 |
49.413 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Goods on FOB Basis |
453.375 |
429.235 |
405.438 |
|
|
|
|
Commission |
2.471 |
7.005 |
1.103 |
|
|
|
TOTAL EARNINGS |
455.846 |
436.240 |
406.541 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
0.97 |
4.58 |
1.91 |
||
QUARTERLY RESULTS
(Rs.
In Millions)
|
Particulars |
|
|
30.06.2014 (Unaudited) |
|
|
|
|
1st
Quarter |
|
Net Sales |
|
|
162.400 |
|
Total Expenditure |
|
|
157.300 |
|
PBIDT (Excl OI) |
|
|
5.000 |
|
Other Income |
|
|
1.600 |
|
Operating Profit |
|
|
6.600 |
|
Interest |
|
|
0.000 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
6.600 |
|
Depreciation |
|
|
1.800 |
|
Profit Before Tax |
|
|
4.800 |
|
Tax |
|
|
0.000 |
|
Provisions and contingencies |
|
|
0.000 |
|
Profit After Tax |
|
|
4.800 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
0.73 |
3.10 |
1.63 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.98 |
4.64 |
2.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.87 |
7.93 |
4.92 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.17 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.18 |
0.25 |
0.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.99 |
1.03 |
0.99 |
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 |
50.677 |
50.677 |
50.677 |
|
Reserves & Surplus |
127.450 |
147.696 |
149.666 |
|
Net
worth |
178.127 |
198.373 |
200.343 |
|
|
|
|
|
|
long-term borrowings |
0.267 |
2.154 |
2.641 |
|
Short term borrowings |
17.158 |
47.644 |
33.404 |
|
Total
borrowings |
17.425 |
49.798 |
36.045 |
|
Debt/Equity
ratio |
0.098 |
0.251 |
0.180 |
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 |
590.808 |
735.717 |
670.000 |
|
|
|
24.527 |
(8.932) |
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
|
590.808 |
735.717 |
670.000 |
|
Profit |
9.666 |
23.191 |
4.914 |
|
|
1.64% |
3.15% |
0.73% |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
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 |
PERFORMANCE REVIEW
Subject’s turnover
was Rs.670.000 Millions for the financial year ended 31st March 2014, and
Profit before tax was Rs.13.274 Millions.
AWARDS AND
CERTIFICATES
Subject has once again
received Export Excellence Award from Export Engineering Promotion Council,
Eastern Region.
FUTURE PROSPECTS
TEA DIVISION
Subject’s focus
has always been to produce better quality of tea and achieve better prices. The
production capacity has been expanded to manufacture more CTC and Green Tea.
The plantation continues to make continuous progress.
MACHINERY DIVISION
The total sale of Machinery was Rs. 56.54 crore in the financial year
ended 2013-14
UNSECURED LOAN:
|
Particulars |
31.03.2014 Rs.
In Millions |
31.03.2013 Rs.
In Millions |
|
Short Term
Borrowings |
|
|
|
Loan repayable on demand |
|
|
|
From Corporates |
21.518 |
0.000 |
|
|
|
|
|
Total |
21.518 |
0.000 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10457173 |
04/11/2013 |
60,000,000.00 |
THE
HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED |
HONGKONG
HOUSE, 31 B B D BAGH, KOLKATA, WEST BENGAL - 700001, INDIA |
B88363064 |
|
2 |
10215867 |
17/12/2012
* |
97,500,000.00 |
STANDARD
CHARTERED BANK |
SME
BANKING, 19 N S ROAD, KOLKATA, WEST BENGAL - 700001, INDIA |
B65886640 |
|
3 |
90249898 |
10/01/1995
* |
5,500,000.00 |
UNITED
BANK OF INDIA |
CORPORATE
BUSINESS BRANCH 16;, OLD COURT HOUSE STREET, CULCUTTA, WEST BENGAL - 700001,
INDIA |
- |
|
4 |
90249895 |
08/11/1991
* |
5,500,000.00 |
UNITED
BANK OF INDIA |
CORPORATE
BUSINESS BRANCH 16;, OLD COURT HOUSE STREET, CULCUTTA, WEST BENGAL - 700001,
INDIA |
- |
*Date of modification Charges
FIXED ASSETS:
·
Land and Plantation
·
Plant and Machinery
·
Factory Building
·
Road and Culvers
·
Office Equipments
·
Air Conditioner
·
Computer
·
Furniture
·
Generator
·
Electricals
·
Irrigation Equipments
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service, Interpol,
etc.
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 |
|
UK Pound |
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--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.