MIRA INFORM REPORT
|
Report Date : |
10.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
SUNSHINE TILES COMPANY PRIVATE LIMITED |
|
|
|
|
S. No.150 and 160/P1,
Behind Sunhill Ceramics, Taluka Wankaner, Village Dhuva, Rajkot – 363 622,
Gujarat |
|
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
28.08.2009 |
|
|
|
|
Com. Reg. No.: |
04-057909 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.37.850
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26933GJ2009PTC057909 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RKTS06469B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AANCS3264L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Vitrified Tiles, Ceramic Tiles, Floor
Tiles and Wall Tiles etc. |
|
|
|
|
No. of
Employees: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having a satisfactory track record. Financial
position S to be decent. Trade relations
are as fair. Business is active. Payment terms are usually 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.
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the Companies
Act is the latest manifestation of a messy fight between a father and his
adopted son for the control of Rs 40000 mn business empire. The Central Bureau
of Investigation arrested Manumeethi Cholan after he accepted Rs 10 lakhs as
bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “BBB-” |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
09.12.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A3” |
|
Rating Explanation |
Moderate degree of safety and high credit risk. |
|
Date |
09.12.2013 |
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 (GENERAL DETAILS)
|
Name : |
Mr. Lakhani |
|
Designation : |
Accountant |
|
Contact No.: |
91-9909988391 |
|
Date : |
10.10.2014 |
LOCATIONS
|
Registered Office : |
S. No.150 and 160/P1, Behind Sunhill Ceramics, Taluka Wankaner,
Village Dhuva, Rajkot – 363622, Gujarat, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9909988391 (Mr. Lakhani) |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
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|
|
Head Office/ Factory : |
8-A, National Highway, Dhuva, Taluka Wankaner, Rajkot – 363622,
Gujarat, India |
|
Tel. No.: |
91-2828-287858/ 287859 |
|
Fax No.: |
91-2828-287559 |
|
|
|
|
Corporate Office : |
11, Ground Floor, Patel Avenue, Near Gurudwara, S.G. Highway, Ahmedabad – 380015, Gujarat. (India |
|
Tel. No.: |
91-79-40039851 |
|
Fax No.: |
91-79-40039854 |
|
E-Mail : |
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|
|
|
|
Branch Office 1 : |
9-C, Laxmi Industrial Estate, Off. Link Road, Andheri (West) Mumbai – 400053, Maharashtra, India |
|
Tel. No.: |
91-22-26334506/ 7 |
|
E-Mail : |
|
|
|
|
|
Branch Office 2 : |
F-3, Shopping Centre-1, Mansarovar Garden, New Delhi – 110015, India |
|
Tel. No.: |
91-11-46158880/ 1/ 2/ 3 |
|
E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Govind Ganeshbhai Varmora |
|
Designation : |
Director |
|
Address : |
Block No. 4, Shakti Society, Ravapar Road, Near Narshi Tekri, Morbi –
363641, Gujarat, India |
|
Date of Birth/Age : |
25.01.1958 |
|
Date of Appointment : |
28.08.2009 |
|
PAN No.: |
ACNPP7539E |
|
DIN No: |
01935136 |
|
|
|
|
Name : |
Mr. Jagjivanbhai Ganeshbhai Varmora |
|
Designation : |
Director |
|
Address : |
Avernew Park, Ravapar Road, Morbi – 363641, Gujarat, India |
|
Date of Birth/Age : |
05.03.1961 |
|
Date of Appointment : |
28.08.2009 |
|
PAN No.: |
ABUPP2592H |
|
DIN No: |
00095196 |
|
|
|
|
Name : |
Mr. Pravinbhai Narshibhai Patel |
|
Designation : |
Director |
|
Address : |
Block No.30, Shri Ram Society, Opposite Gokuldham, Ravapar Road, Morbi
– 363641, Gujarat, India |
|
Date of Birth/Age : |
15.09.1961 |
|
Date of Appointment : |
28.08.2009 |
|
PAN No.: |
ACMPP9912E |
|
DIN No: |
01935034 |
|
|
|
|
Name : |
Mr. Bhudarbhai Ganeshbhai Varmora |
|
Designation : |
Director |
|
Address : |
19, Jayraj Park, Ravapar Road, Morbi – 363641, Gujarat, India |
|
Date of Birth/Age : |
26.10.1969 |
|
Date of Appointment : |
28.08.2009 |
|
PAN No.: |
ABOPP6384M |
|
DIN No: |
02530181 |
|
|
|
|
Name : |
Mr. Manojkumar Govinbhai Patel |
|
Designation : |
Director |
|
Address : |
4, Shakti Society, Ravapar Road, Near Narshi Tekri, Morbi – 363641,
Gujarat, India |
|
Date of Birth/Age : |
18.04.1979 |
|
Date of Appointment : |
28.08.2009 |
|
PAN No.: |
ACMPP9906C |
|
DIN No: |
00095240 |
KEY EXECUTIVES
|
Name : |
Mr. Lakhani |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Govindbhai Ganeshbhai Varmora |
444200 |
|
Manojkumar Govindbhai Patel |
302500 |
|
Bhavinaben Hareshbhai Patel |
123500 |
|
Bhudarbhai Ganeshbhai Patel |
238150 |
|
Bhudarbhai Ganeshbhai Patel HUF |
17200 |
|
Ganeshbhai Shivabhai Patel |
120900 |
|
Hardik Hareshbhai Varmora |
126450 |
|
Jagjivanbhai Ganeshbhai Varmora |
156000 |
|
Jayaben Bhudarbhai Patel |
311800 |
|
Kantaben Jagjivanbhai Varmora |
128000 |
|
Vasantben Govinbhai Patel |
221150 |
|
Sunhill Ceramics Private Limited |
1053400 |
|
Lalitaben Pravinbhai Patel |
115100 |
|
Mayank Kumar Pravinbhai Patel |
121900 |
|
Pravinbhai Narshibhai Patel |
158100 |
|
Daxitaben Jayrambhai Bhalodiya |
6600 |
|
Jayantibhai Mavjibhai Bhalodiya |
10000 |
|
Jayrambhai Mavjibhai Bhalodiya |
23750 |
|
Krunal Jayrambhai Bhalodiya |
13750 |
|
Shilpaben Jayantibhai Bhalodiya |
5800 |
|
Govindbhai Ganeshbhai Patel HUF |
24900 |
|
Jagjivanbhai Ganeshbhai Varmora HUF |
6900 |
|
Jagrutiben Manojbhai Patel |
54950 |
|
Total |
3785000 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
27.83 |
|
Directors or relatives of Directors |
72.17 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Vitrified Tiles, Ceramic Tiles, Floor
Tiles and Wall Tiles etc. |
|
|
|
|
Products : |
· Vitrified Tiles · Ceramic Tiles · Floor Tiles · Wall Tiles |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
Italy |
GENERAL INFORMATION
|
No. of Employees : |
500 (Approximately) |
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|
Bankers : |
· State Bank of India, I F Branch , 1st Floor, Naptune Tower Annexe, Near Gandhidham Railway Station, Ashram Road, Ahmedabad – 380 006, Gujarat, India · Union Bank of India, Jodhpur Tekra Branch, Moti Park Society, Satellite, Ahmedabad – 380 015, Gujarat , India |
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
R. K. Doshi and Company Chartered Accountants, |
|
Address : |
Aditya Centre, 2nd Floor, Opposite Phulchhab Chowk, Rajkot –
360001, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAIFR8841C |
|
|
|
|
Associate
Enterprises : |
· Sunraj Minerals · Sunshine Ceramics · Jaysun Ceramics · Sunhill Ceramics Private Limited |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,100,000 |
Equity Shares |
Rs.10/- each |
Rs. 51.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,785,000 |
Equity Shares |
Rs.10/- each |
Rs. 37.850 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 |
37.850 |
37.850 |
20.200 |
|
(b) Reserves & Surplus |
443.316 |
350.389 |
166.693 |
|
(c) Money
received against share warrants |
52.834 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
534.000 |
388.239 |
186.893 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
306.002 |
357.266 |
432.460 |
|
(b) Deferred tax liabilities (Net) |
35.576 |
32.328 |
25.703 |
|
(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) |
341.578 |
389.594 |
458.163 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
465.963 |
465.880 |
389.008 |
|
(b) Trade
payables |
282.873 |
379.106 |
316.454 |
|
(c) Other
current liabilities |
46.133 |
103.367 |
46.947 |
|
(d) Short-term
provisions |
26.530 |
25.469 |
27.769 |
|
Total Current
Liabilities (4) |
821.499 |
973.822 |
780.178 |
|
|
|
|
|
|
TOTAL |
1697.077 |
1751.655 |
1425.234 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
609.817 |
590.291 |
494.168 |
|
(ii)
Intangible Assets |
1.168 |
1.161 |
0.205 |
|
(iii)
Capital work-in-progress |
0.000 |
15.120 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.179 |
12.338 |
17.559 |
|
(e) Other
Non-current assets |
0.184 |
0.248 |
0.011 |
|
Total Non-Current
Assets |
612.348 |
619.158 |
511.943 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
375.332 |
510.337 |
305.251 |
|
(c) Trade
receivables |
563.487 |
442.865 |
330.494 |
|
(d) Cash
and cash equivalents |
97.489 |
106.719 |
197.735 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
48.421 |
72.576 |
79.811 |
|
Total
Current Assets |
1084.729 |
1132.497 |
913.291 |
|
|
|
|
|
|
TOTAL |
1697.077 |
1751.655 |
1425.234 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
NET SALES &
OTHER INCOME |
2771.610 |
1680.185 |
14.585 |
|
|
|
|
|
|
|
|
DEPRECIATION |
80.538 |
50.121 |
3.188 |
|
|
|
|
|
|
|
|
PROVISION OF
INCOME TAX |
25.000 |
22.547 |
0.034 |
|
|
|
|
|
|
|
|
DEFERRED TAX
LIABILITIES |
6.625 |
25.628 |
0.075 |
|
|
|
|
|
|
|
|
NET PROFIT/
(LOSS) |
95.446 |
66.581 |
0.220 |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
1.446 |
3.885 |
NA |
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORT |
190.258 |
195.615 |
NA |
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2830.638 |
2756.420 |
|
|
|
|
Other Income |
9.220 |
15.190 |
|
|
|
|
TOTAL |
2839.858 |
2771.610 |
1680.185 |
|
|
|
|
|
|
|
|
|
DEPRECIATION |
89.826 |
80.538 |
50.121 |
|
|
|
|
|
|
|
|
|
|
PROVISION OF
TAX/ CURRENT TAX |
40.000 |
25.000 |
22.547 |
|
|
|
|
|
|
|
|
|
|
DEFERRED TAX |
3.247 |
6.625 |
25.628 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT/
(LOSS) |
92.927 |
95.446 |
66.581 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
84.241 |
1.446 |
3.885 |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORT |
NA |
190.258 |
195.615 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
|
|
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.27 |
3.44 |
3.96 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.45 |
2.12 |
4.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32 |
1.16 |
1.17 |
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 |
20.200 |
37.850 |
37.850 |
|
Reserves & Surplus |
166.693 |
350.389 |
443.316 |
|
Money received against share
warrants |
0.000 |
0.000 |
52.834 |
|
Net
worth |
186.893 |
388.239 |
534.000 |
|
|
|
|
|
|
long-term borrowings |
432.460 |
357.266 |
306.002 |
|
Short term borrowings |
389.008 |
465.880 |
465.963 |
|
Total
borrowings |
821.468 |
823.146 |
771.965 |
|
Debt/Equity
ratio |
4.395 |
2.120 |
1.446 |
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) |
|
Total Income |
1680.185 |
2771.610 |
2839.858 |
|
|
|
64.959 |
2.462 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
1680.185 |
2771.610 |
2839.858 |
|
Profit |
66.581 |
95.446 |
92.927 |
|
|
3.96% |
3.44% |
3.27% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current Maturities of Long Term Debts |
17.346 |
55.006 |
34.079 |
|
|
|
|
|
|
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 |
No |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10244719 |
28/12/2012 * |
993,000,000.00 |
STATE BANK OF INDIA |
I F BRANCH, 1ST FLOOR, NAPTUNE TOWER ANNEXE, GANDHIDHAM RLY STATION, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA |
B77677987 |
|
2 |
10187762 |
25/03/2011 * |
252,000,000.00 |
UNION BANK OF INDIA |
JODHPUR TEKRA BRANCH, MOTI PARK SOCIETY, SATELLITE, AHMEDABAD, GUJARAT - 380015, INDIA |
B10595577 |
* Date of charge modification
COMPANY PERFORMANCE
The Company has reported income from operation during the year of Rs. 2830.638 Millions as compared to the previous Year’s income from operation of Rs. 2756.420 Millions and the Company has earned net profit of Rs. 92.927 Millions as compared to the previous year’s profit of Rs. 95.447 Millions.
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Plantations
Intangible Assets
· 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.61.04 |
|
|
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.77.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
|
47 |
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.