MIRA INFORM REPORT
|
Report Date : |
08.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
EMMVEE PHOTOVOLTAIC POWER PRIVATE LIMITED (w.e.f. 10.11.2010) |
|
|
|
|
Formerly Known
As : |
EMMVEE TOUGHENED GLASS AND PHOTOVOLTAICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
55, Solar Tower, 6th Main, 11th Cross,
Lakashmaiah Block, Ganganagar, Bangalore – 560 024, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
21.03.2007 |
|
|
|
|
Com. Reg. No.: |
08-042197 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.107.918
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26101KA2007PTC042197 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRE04624E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCE7342P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Seller of Toughened Glass and
Photovoltaic Modules. |
|
|
|
|
No. of Employees
: |
450 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3500000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Sales of the company has dipped but profit has increased as compared
to previous year. Overall financial position of the company is decent. However, trade relations are reported to be fair. Business is active.
Payments are reported to be usually correct. The company can be considered normal for business dealing 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 |
|
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 |
ICRA |
|
Rating |
Term Loans: BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
December 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non fund based limits: A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
December 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. Sridhar |
|
Designation : |
Assistant Manager Export |
|
Contact No.: |
91-80-43233511 |
|
Date |
07.10.2014 |
LOCATIONS
|
Registered Office : |
55, Solar Tower, 6th Main, 11th Cross,
Lakashmaiah Block, Ganganagar, Bangalore – 560 024, Karnataka, India |
|
Tel. No.: |
91-80-43233311/ 43233310/ 23638380/ 81 |
|
Fax No.: |
91-80-28467808/ 23332060 |
|
E-Mail : |
|
|
Website : |
http://www.emmveetuffglass.com
|
|
|
|
|
Corporate Office/ Factory : |
#13/1, Ballary Road, Jala Hobli, Sonnappanahalli, Bellahalasur Post,
Bangalore – 562 157, Karnataka, India |
|
Tel. No.: |
91-80-43233544/ 28467801/ 02/ 03/ 04 |
|
Fax No.: |
91-80-28467808/ 28477502 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Dhonti Venkatrathnaiah Manjunatha |
|
Designation : |
Managing Director |
|
Address : |
B 22, Shubha Nilaya, 5 Main 10 Cross, Housing Layout, Bangalore – 560
032, Karnataka, India |
|
Date of Birth/Age : |
08.08.1967 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
26.03.2007 |
|
PAN No.: |
ABQPM7504G |
|
DIN No.: |
00249495 |
|
|
|
|
Name : |
Mrs. Manjunatha Donthi Shubha |
|
Designation : |
Director |
|
Address : |
B 22, Shubha Nilaya, 5 Main, 10 Cross, Housing Layout, Bangalore -560 032,
Karnataka, India |
|
Date of Birth/Age : |
22.03.1972 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
26.03.2007 |
|
PAN No.: |
AMJPS7541K |
|
DIN No.: |
00249559 |
|
|
|
|
Name : |
Mr. Srinath Thippe Gowda |
|
Designation : |
Whole Time Director |
|
Address : |
# 1701, 17 Cross, MC Layout, Vijayanagar, Bangalore – 560 040,
Karnataka, India |
|
Date of Birth/Age : |
13.04.1964 |
|
Date of Appointment : |
27.09.2010 |
|
DIN No.: |
01508121 |
KEY EXECUTIVES
|
Name : |
Mr. Sridhar |
|
Designation : |
Assistant Manager Export |
|
|
|
|
Name : |
Mr. Mahabaleshwar Bhat |
|
Designation : |
Secretary |
|
Address : |
# 843, 18 Cross, 5 Main, HMT Layout, Vidyaranya, Bangalore – 560 097,
Karnataka, India |
|
Date of Birth/Age : |
05.04.1975 |
|
Date of Appointment : |
20.10.2008 |
|
PAN No.: |
ALMPB7927Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
% age |
|
Donthi Venkatharathnaia Manjunatha |
5200000 |
48.18 |
|
Manjunatha Shubha |
5200000 |
48.18 |
|
D V Manjunath HUF Represented by D V Manjunath |
391810 |
3.63 |
|
Total
|
10791810 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of Toughened Glass and
Photovoltaic Modules. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
European Country |
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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 (Advance) |
GENERAL INFORMATION
|
Customers : |
End users |
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No. of Employees : |
450 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
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Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
Maruthi Info-Tech Centre, 11-12/1, Inner Ring Road, Koramangala,
Bangalore – 560 071, Karnataka, India |
|
Tel. No.: |
91-80-39806000 |
|
Fax No.: |
91-80-39806999 |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAIFB0630K |
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Subsidiary company:
|
|
|
|
|
|
Enterprises which
are owned, or have significant influence of or are
partners with Key management personnel and their
relatives: |
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10791810 |
Equity Shares |
Rs.10/- each
|
Rs.107.918
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 |
107.918 |
107.918 |
107.918 |
|
(b) Reserves & Surplus |
761.093 |
592.408 |
476.840 |
|
(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) |
869.011 |
700.326 |
584.758 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term
borrowings |
391.200 |
344.774 |
396.523 |
|
(b) Deferred tax liabilities (Net) |
170.961 |
163.154 |
104.000 |
|
(c) Other long term
liabilities |
2.933 |
2.367 |
2.265 |
|
(d) long-term
provisions |
40.739 |
29.319 |
18.417 |
|
Total Non-current
Liabilities (3) |
605.833 |
539.614 |
521.205 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1082.126 |
1425.702 |
1199.636 |
|
(b) Trade
payables |
750.179 |
628.549 |
237.842 |
|
(c) Other
current liabilities |
295.135 |
121.058 |
149.103 |
|
(d) Short-term
provisions |
63.127 |
18.675 |
3.335 |
|
Total Current
Liabilities (4) |
2190.567 |
2193.984 |
1589.916 |
|
|
|
|
|
|
TOTAL |
3665.411 |
3433.924 |
2695.879 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
716.787 |
693.332 |
515.680 |
|
(ii)
Intangible Assets |
6.719 |
8.492 |
0.382 |
|
(iii)
Capital work-in-progress |
0.000 |
60.253 |
249.427 |
|
(iv) Intangible assets under development |
1.917 |
6.785 |
14.458 |
|
(b) Non-current
Investments |
416.395 |
95.092 |
0.000 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
134.257 |
197.677 |
127.597 |
|
(e) Other
Non-current assets |
0.079 |
0.744 |
0.601 |
|
Total Non-Current
Assets |
1276.154 |
1062.375 |
908.145 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
142.094 |
308.188 |
449.567 |
|
(c) Trade
receivables |
1297.247 |
1969.707 |
1172.611 |
|
(d) Cash
and cash equivalents |
440.418 |
27.055 |
121.911 |
|
(e)
Short-term loans and advances |
485.950 |
48.687 |
43.645 |
|
(f) Other current
assets |
23.548 |
17.912 |
0.000 |
|
Total
Current Assets |
2389.257 |
2371.549 |
1787.734 |
|
|
|
|
|
|
TOTAL |
3665.411 |
3433.924 |
2695.879 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2846.333 |
3898.391 |
4359.254 |
|
|
|
Other Income |
14.650 |
12.395 |
6.696 |
|
|
|
TOTAL (A) |
2860.983 |
3910.786 |
4365.950 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
2359.255 |
3584.316 |
3906.087 |
|
|
|
Personnel Cost |
|
|
|
|
|
|
Operating and Administrative expenses |
|
|
|
|
|
|
TOTAL (B) |
2359.255 |
3584.316 |
3906.087 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
501.728 |
326.470 |
459.863 |
|
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
224.910 [Including
Financial Expenses and Depreciation] |
150.224 [Including
Financial Expenses and Depreciation] |
139.066 [Including
Financial Expenses and Depreciation] |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
276.818 |
176.246 |
320.797 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
108.133 |
60.678 |
12.931 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
168.685 |
115.568 |
307.866 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
317.629 |
81.224 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
40.000 |
|
|
|
Dividend |
0.000 |
0.000 |
26.980 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
4.481 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
317.629 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
15.63 |
10.71 |
28.53 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
3000.000 |
The above information has been parted by Mr. Sridhar (Assistant Manager
Export)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.90
|
2.95
|
7.05 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.73
|
4.52
|
7.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.53
|
5.39
|
13.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
0.25
|
0.55 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.70
|
2.53
|
2.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09
|
1.08
|
1.12 |
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 |
107.918 |
107.918 |
107.918 |
|
Reserves & Surplus |
476.840 |
592.408 |
761.093 |
|
Net
worth |
584.758 |
700.326 |
869.011 |
|
|
|
|
|
|
long-term borrowings |
396.523 |
344.774 |
391.200 |
|
Short term borrowings |
1199.636 |
1425.702 |
1082.126 |
|
Total
borrowings |
1,596.159 |
1,770.476 |
1,473.326 |
|
Debt/Equity
ratio |
2.730 |
2.528 |
1.695 |
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 |
4359.254 |
3898.391 |
2846.333 |
|
|
|
(10.572) |
(26.987) |
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 |
4359.254 |
3898.391 |
2846.333 |
|
Profit |
307.866 |
115.568 |
168.685 |
|
|
7.06% |
2.96% |
5.93% |
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 |
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 |
TURNOVER AND PROFITS:
For the year 2012-13 your Company has achieved the turnover of Rs. 2846.333 millions. Total profit after tax of 168.685 millions.
BACKGROUND:
Subject was incorporated on 21 March 2007, as a Private Limited Company under the Companies Act, 1956 (‘the Act’). The Company is majorly owned by Mrs. Shubha Manjunatha Dhonti and Mr. Manjunatha Dhonti Venkatarathnaiah. The Company manufactures and sells toughened glass, photovoltaic systems and photovoltaic modules. Further, the Company executes grid and off-grid photovoltaic projects on a turnkey basis.
UNSECURED LOAN
|
Unsecured Loan |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Short Term
Borrowings |
|
|
|
Loans and advances from directors |
30.768 |
30.000 |
|
Loans and advances from others |
26.735 |
0.000 |
|
TOTAL
|
57.503 |
30.000 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10245035 |
21/06/2013 * |
980,000,000.00 |
AXIS BANK LIMITED |
CORPORATE
BANKING BRANCH, QUEENS ROAD, BANGALORE, KARNATAKA - 560001, INDIA |
B78431822 |
|
2 |
10239424 |
08/07/2013 * |
1,285,000,000.00 |
STATE BANK OF INDIA |
SPECIALISED MID CORPORATE
BRANCH, NO. 97, RAILWAY PARALLEL ROAD, KUMARAPARK WEST, BANGALORE, KARNATAKA
- 560020, INDIA |
B83652156 |
* Date of charge modification
FIXED ASSETS:
Tangible assets
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Other equipments
Intangible assets
- Trade marks
- Computer software
- Brands and trade marks
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.61.35 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.77.47 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
4 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.