MIRA INFORM REPORT
|
Report Date : |
16.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
METRO SHOES LIMITED [w.e.f.
14.05.2007] |
|
|
|
|
Formerly Known
As : |
METRO SHOES PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
3rd Floor, Metro House, Shahid Bhagat Singh Road, Colaba
Causeway, Mumbai – 400001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
19.01.1977 |
|
|
|
|
Com. Reg. No.: |
11-019449 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.147.107 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U19200MH1977PLC019449 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM19987C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM4754E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is a retailer in fashion footwear, bags and accessories. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established company having fine track record. The rating reflects company’s well-established market presence and
strong brand recognition supported by decent profitability levels and
comfortable liquidity position of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal 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 |
CARE |
|
Rating |
A1+ (Short Term Commercial Paper Issue) |
|
Rating Explanation |
Very strong degree of safety and very high
credit risk. |
|
Date |
November 08, 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 DENIED BY
|
Name : |
Mr. Kaushal Parekh |
|
Designation : |
Finance Controller |
|
Contact No.: |
91-9167215639 |
|
Date : |
14.10.2014 |
LOCATIONS
|
Registered Office : |
3rd Floor, Metro House, Shahid Bhagat Singh Road, Colaba
Causeway, Mumbai – 400001, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Tel. No.: |
91-22-66560444/ 66560400 |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Fax No.: |
91-22-66560490 |
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
E-Mail : |
|||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Website : |
|||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Showrooms : |
Located At:
|
DIRECTORS
As on: 28.09.2013
|
Name : |
Mr. Manojkumar Madangopal Maheshwari |
|
Designation : |
Director |
|
Address : |
Maheshwari House, 36 L Jagmohandas Marg, Mumbai – 400036, |
|
Date of Birth/Age : |
08.08.1957 |
|
Date of Appointment : |
24.07.2009 |
|
Din No.: |
00012341 |
|
|
|
|
Name : |
Mr. Aruna Bhagawan Advani |
|
Designation : |
Director |
|
Address : |
6/65, Shyam Nivas, |
|
Date of Appointment : |
27.07.2010 |
|
Din No.: |
00029256 |
|
|
|
|
Name : |
Mr. Utpal Hemendra Sheth |
|
Designation : |
Alternate Director |
|
Address : |
B -27, Kumkum Apartment, Near Nanavati Hospital, S. V. Road, Vile
Parle (West), Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
20.06.1971 |
|
Date of Appointment : |
14.03.2007 |
|
Din No.: |
00081012 |
|
|
|
|
Name : |
Mr. Aziza Rafique Malik |
|
Designation : |
Whole Time Director |
|
Address : |
Flat No.23/C, 20th Floor, Kanchanjunga, |
|
Date of Birth/Age : |
05.04.1950 |
|
Date of Appointment : |
01.04.2007 |
|
PAN No.: |
AAXPM3312L |
|
Din No.: |
00167534 |
|
|
|
|
Name : |
Mr. Rafique Abdul Malik |
|
Designation : |
Whole Time Director |
|
Address : |
Flat No.23/C, 20th Floor, Kanchanjunga, |
|
Date of Birth/Age : |
30.10.1950 |
|
Date of Appointment : |
05.02.1987 |
|
Pan No.: |
AABPM5599H |
|
Din No.: |
00521563 |
|
|
|
|
Name : |
Mr. Jalaluddin Jafferali Kamdar |
|
Designation : |
Whole Time Director |
|
Address : |
A-41, Yuwan Apartments, 413/414, Mount Mary Road, Bandra West, Mumbai
– 400050, Maharashtra, India |
|
Date of Birth/Age : |
21.11.1947 |
|
Date of Appointment : |
01.04.2007 |
|
Din No.: |
00521677 |
|
|
|
|
Name : |
Mr. Farah Malik Bhanji |
|
Designation : |
Managing Director |
|
Address : |
203, Samudra Gaurav Apartments, 6A, Abdul Gaffar Khan Road, Worli Sea
Face, Worli, Mumbai – 400025, Maharashtra, India |
|
Date of Birth/Age : |
31.08.1976 |
|
Date of Appointment : |
01.04.2007 |
|
Din No.: |
00530676 |
|
|
|
|
Name : |
Mr. Rakesh Radheyshyam Jhunjhunwala |
|
Designation : |
Director |
|
Address : |
3 Sital Sagar, Sital Baug, 64, |
|
Date of Birth/Age : |
05.07.1960 |
|
Date of Appointment : |
14.03.2007 |
|
Pan No.: |
AAEPJ2191B |
|
Din No.: |
00777064 |
KEY EXECUTIVES
|
Name : |
Mr. Kaushal Parekh |
|
Designation : |
Finance Controller |
|
|
|
|
Name : |
J J Desai |
|
Designation : |
Secretary |
|
Address : |
Flat No. A/3, Kaustubh Apartments, Adarsh Colony, Kopri, Thane East, 400603, Maharashtra, India |
|
Date of Appointment : |
22.11.2012 |
|
PAN No.: |
AEGPD3198E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 28.09.2013
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 28.09.2013
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
99.25 |
|
Other top fifty shareholders |
|
0.64 |
|
Others |
|
0.11 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is a retailer in fashion footwear, bags and
accessories. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
|
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
3rd Floor 'Heritage', Near Gujrathvidya Pith, Off Ashram Road, Ahmedabad - 380014, Gujarat, India |
|
PAN No.: |
AABFD7919A |
|
|
|
|
Subsidiary Company
: |
Metmill Footwear Private Limited U19201MH2009PTC195829 |
|
|
|
|
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 |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14710725 |
Equity Shares |
Rs.10/- each |
Rs.147.107 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 |
147.107 |
48.980 |
48.870 |
|
(b) Reserves & Surplus |
2030.887 |
1703.846 |
1255.547 |
|
(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) |
2177.994 |
1752.826 |
1304.417 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
17.612 |
13.452 |
|
(c) Other long term
liabilities |
21.291 |
15.834 |
10.962 |
|
(d) long-term provisions |
11.668 |
6.548 |
7.680 |
|
Total
Non-current Liabilities (3) |
32.959 |
39.994 |
32.094 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
554.808 |
516.305 |
357.993 |
|
(c) Other current liabilities |
66.930 |
60.467 |
71.474 |
|
(d) Short-term provisions |
31.198 |
92.674 |
82.983 |
|
Total
Current Liabilities (4) |
652.936 |
669.446 |
512.450 |
|
|
|
|
|
|
TOTAL |
2863.889 |
2462.266 |
1848.961 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
569.683 |
543.565 |
375.237 |
|
(ii) Intangible Assets |
10.705 |
12.159 |
11.420 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
21.021 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.275 |
1.275 |
1.275 |
|
(c) Deferred tax assets (net) |
10.277 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
242.545 |
225.144 |
138.658 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
2.167 |
|
Total
Non-Current Assets |
834.485 |
782.143 |
549.778 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
354.747 |
70.812 |
213.999 |
|
(b) Inventories |
1440.669 |
1445.616 |
994.247 |
|
(c) Trade receivables |
24.990 |
20.488 |
18.449 |
|
(d) Cash and cash equivalents |
108.536 |
59.862 |
27.988 |
|
(e) Short-term loans and
advances |
93.300 |
80.300 |
44.500 |
|
(f) Other current assets |
7.162 |
3.045 |
0.000 |
|
Total
Current Assets |
2029.404 |
1680.123 |
1299.183 |
|
|
|
|
|
|
TOTAL |
2863.889 |
2462.266 |
1848.961 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
5590.752 |
4641.539 |
3664.443 |
|
|
Other Income |
33.347 |
32.336 |
24.032 |
|
|
TOTAL
(A) |
5624.099 |
4673.875 |
3688.475 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
2732.428 |
2685.090 |
2218.159 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
38.899 |
(394.555) |
(334.888) |
|
|
Employees benefits expense |
300.019 |
189.310 |
107.262 |
|
|
Other expenses |
1558.435 |
1294.529 |
1028.682 |
|
|
Prior Period Items |
49.551 |
0.000 |
0.000 |
|
|
TOTAL
(B) |
4679.332 |
3774.374 |
3019.215 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
944.767 |
899.501 |
669.260 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.843 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
943.924 |
899.501 |
669.260 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
76.432 |
39.803 |
28.388 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
867.492 |
859.698 |
640.872 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
278.397 |
276.301 |
210.240 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
589.095 |
583.397 |
430.632 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
834.543 |
453.460 |
186.802 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Interim Dividend |
147.107 |
122.450 |
0.000 |
|
|
Tax on Interim Dividend |
23.864 |
19.864 |
0.000 |
|
|
Transfer to General Reserve |
70.000 |
60.000 |
50.000 |
|
|
1st Interim Dividend |
0.000 |
0.000 |
48.870 |
|
|
Tax on 1st Interim Dividend |
0.000 |
0.000 |
8.117 |
|
|
Final Dividend |
0.000 |
0.000 |
48.870 |
|
|
Tax on Final Dividend |
0.000 |
0.000 |
8.117 |
|
|
|
|
|
|
|
|
BALANCE
CARRIED TO THE B/S |
1182.667 |
834.543 |
453.460 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
40.05 |
39.67 |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
10.47 |
12.48 |
11.68 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
15.52 |
18.52 |
17.49 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
30.41 |
34.93 |
35.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39 |
0.49 |
0.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.11 |
3.89 |
2.54 |
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 |
48.870 |
48.980 |
147.107 |
|
Reserves & Surplus |
1,255.547 |
1,703.846 |
2,030.887 |
|
Net
worth |
1,304.417 |
1,752.826 |
2,177.994 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
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 |
3,664.443 |
4,641.539 |
5,590.752 |
|
|
|
26.664 |
20.450 |
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 |
3,664.443 |
4,641.539 |
5,590.752 |
|
Profit |
430.632 |
583.397 |
589.095 |
|
|
11.75% |
12.57% |
10.54% |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT
MATURITIES OF LONG TERM DEBT: NOT AVAILABLE
|
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 |
Yes |
|
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 |
No |
|
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 |
NOTE:
The registered office of the company has been shifted from Metro House, Colaba, Mumbai-400001, Maharashtra India to the present address w.e.f. 23.04.2007.
BUSINESS PERFORMANCE
The period ended with sluggish pace of development as the Indian economy was taking its time to come out of the shadow of recession and also fighting simultaneously with the high inflation. However, the Company could maintain the overall business performance during the year. Total turnover has increased to Rs.6660.400 Millions as against Rs.5467.500 Millions in the previous year, growth of 21.82% year-on-year.
The Company recorded Profit before Tax (PBT) of Rs.917.000 Millions before prior period depreciation (previous year Rs.859.700 Millions) and Profit after Tax (PAT) Rs.589.100 Millions (previous year Rs.583.400 Millions) up by 6.67% and 1% respectively. The profitability is affected due to increase in excise duty, the impact of which could not be passed on to the customers immediately. The prices were increased in the later part of the year, but full impact was not realized during the current year. The Company also reviewed its depreciation policy and accordingly the estimated useful life of the showroom furniture and other assets has been reduced to be more comparable with renovation policy of the Company to remain competitive. As a result the depreciation charge has gone up by Rs.73.300 Millions (incl. Rs.49.500 Millions for earlier years). The Company is confident that during the current year it would restore its profitability, as a percentage of net sales.
The Company continued its expansion plans by identifying the emerging cities in the country. 27 new showrooms were opened during the year including showrooms in the cities of Bareilly (U.P.), Hoshiarpur (Punjab), Haridwar (Uttarakhand), Anand and Bhavnagar (Gujarat), Vishakhapatnam (Andhra Pradesh) and Yamuna Nagar (Haryana). 10 Showrooms were closed during the year out of which 5 were small sized shop-in-shop MSL stores. Total showrooms count reached 239 during the year.
The Company has recorded sales of Rs.2250.000 Millions during April to July 2013 achieving a growth of 16.38% compared to the same period of last year.
The Company will be shifting its operations in Bhiwandi to a larger warehouse of approximately 1,20,000 sq. ft. from September 2013.
Note: No Charges Exist for Company
FIXED ASSETS
- Furniture and Fixtures
- Machinery and Equipment
- Computers
- Motor Vehicles
- Computer equipments
- Leasehold improvements
- Office equipment
Intangible assets
- Brands and trade marks
- Computer software
- Copyrights
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. 61.11 |
|
|
1 |
Rs. 98.15 |
|
Euro |
1 |
Rs. 77.68 |
INFORMATION DETAILS
|
Information Gathered
by : |
HNA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
62 |
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.