MIRA INFORM REPORT
|
Report Date : |
17.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
TOPACK FITTINGS LIMITED |
|
|
|
|
Formerly Known
As : |
TOPACK FITTINGS PRIVATE LIMITED |
|
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Registered Office : |
Level-2, Kalpataru Synergy, Opposite Grand Hyatt, Santacruz (East),
Mumbai-400055, Maharashtra |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
08.05.1990 |
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Com. Reg. No.: |
11-056461 |
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Capital Investment / Paid-up Capital : |
Rs.30.000 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U99999MH1990PLC056461 |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
Line of Business : |
Manufacturer and Exporter of Pipe Fittings. |
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|
No. of Employees : |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The management has failed to financial its financial record with
government department for the year 2013. As per available financial record of 2011, overall financial position
of the company seems to be sound. However, trade relations are fair. Business is active. Payments are
reported to be unknown. The company can be considered for business dealing with some caution. Note: 23 Ac document for the year 2012 could not be made available
from any source. |
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.
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 DECLINED BY
|
Name : |
Mr. Janak Jagmohandas Kakatia |
|
Designation : |
Director |
|
Contact No.: |
91-9327243562 |
|
Date : |
16.10.2014 |
LOCATIONS
|
Registered Office : |
Level-2, Kalpataru Synergy, Opposite Grand Hyatt, Santacruz (East),
Mumbai-400055, Maharashtra, India |
|
Tel. No.: |
91-22-67973121 91-265-6545211 |
|
Fax No.: |
91-22-67030206 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Janak Jagmohandas Kakatia |
|
Designation : |
Director |
|
Address : |
23/B, Kunj Society, Alkapuri, Vadodara – 390 007, |
|
Date of Birth : |
09.09.1954 |
|
Date of Appointment : |
01.04.2006 |
|
PAN No.: |
AAHPK2212M |
|
DIN No.: |
00123935 |
|
|
|
|
Name : |
Mr. Jagmohandas Kuberdas Katakia |
|
Designation : |
Director |
|
Address : |
23/B, Kunj Society, Alkapuri, Vadodara – 390 007, |
|
Date of Appointment : |
08.06.2011 |
|
DIN No.: |
01570591 |
|
|
|
|
Name : |
Mr. Ravi Ghanshyamdas Lekhrajani |
|
Designation : |
Director |
|
Address : |
Flat No.B-605, Sagar Shrot, Juhu Varsova, New Link Road, Andheri (West),
Mumbai-400053, Maharashtra, India |
|
Date of Appointment : |
08.06.2011 |
|
DIN No.: |
01759409 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
No. of Shares |
|
Janak J Karatria |
2835 |
|
Surbhi Janak Karatria |
50738 |
|
Janak J Karatria (HUF) |
11 |
|
Jagmohandas K Karatria |
8117 |
|
Indumati J Karatria |
43499 |
|
Jagmohandas Karatria (HUF) |
316 |
|
Priyal J Karatria |
10009 |
|
Wayzata II Indian Ocean Limited, India |
225000 |
|
TOTAL
|
340525 |
AS ON 28.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
66.00 |
|
Directors or relatives of Directors |
34.00 |
|
|
|
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Pipe Fittings. |
||||
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Products : |
|
PRODUCTION STATUS (AS ON : 31.03.2010)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Butt Welded Pipe Fittings |
Nos. |
825000 |
538076 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
J M Pabari and Associates Chartered Accountants |
|
Address : |
302, Helix Complex, Opposite Surya Hotel, Sayajigunj, Vadodara –
390005, |
|
Tel. No.: |
91-265-2225171 / 2225172 / 6625172 |
|
Mobile No.: |
91-9825670560 |
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E-Mail : |
|
|
PAN No.: |
ACPPP2581C |
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|
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|
Associates : |
Topack Industries India Limited CIN No.:
U99999MH1987PLC044364 |
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Other Related Parties : |
|
CAPITAL STRUCTURE
AS ON 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
340525 |
Equity Shares |
Rs.100/-
each |
Rs.34.053
Millions |
|
|
|
|
|
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.100/-
each |
Rs.30.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
30.000 |
30.000 |
30.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
512.423 |
424.877 |
328.615 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
542.423 |
454.877 |
358.615 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
307.449 |
288.907 |
253.861 |
|
|
2] Unsecured Loans |
31.643 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
339.092 |
288.907 |
253.861 |
|
|
DEFERRED TAX LIABILITIES |
38.398 |
37.543 |
36.287 |
|
|
|
|
|
|
|
|
TOTAL |
919.913 |
781.327 |
648.763 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
263.054 |
255.281 |
260.455 |
|
|
Capital work-in-progress |
15.534 |
5.405 |
6.061 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
457.948
|
285.522
|
151.390
|
|
|
Sundry Debtors |
467.989
|
367.960
|
384.365
|
|
|
Cash & Bank Balances |
54.940
|
44.893
|
35.377
|
|
|
Other Current Assets |
0.000
|
0.000
|
2.407
|
|
|
Loans & Advances |
186.034
|
152.873
|
145.132
|
|
Total
Current Assets |
1166.911
|
851.248 |
718.671 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
324.531
|
167.172
|
150.747
|
|
|
Other Current Liabilities |
20.519
|
11.815
|
20.615
|
|
|
Provisions |
180.536
|
151.620
|
165.062
|
|
Total
Current Liabilities |
525.586
|
330.607 |
336.424 |
|
|
Net Current Assets |
641.325
|
520.641 |
382.247 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
919.913 |
781.327 |
648.763 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1155.331 |
1299.730 |
1351.538 |
|
|
|
Other Income |
26.516 |
48.521 |
49.134 |
|
|
|
TOTAL (A) |
1181.847 |
1348.251 |
1400.672 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
635.931 |
766.771 |
|
|
|
|
Manufacturing service costs |
104.930 |
92.530 |
|
|
|
|
Contract cost |
96.582 |
117.177 |
1112.153 |
|
|
|
Employee related expenses |
49.641 |
38.759 |
|
|
|
|
Administrative selling other expenses |
80.961 |
66.921 |
|
|
|
|
Exceptional Income Expenses |
0.058 |
0.631 |
|
|
|
|
TOTAL (B) |
968.103 |
1082.789 |
1112.153 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
213.744 |
265.462 |
288.519 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
57.636 |
46.508 |
72.453 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
156.108 |
218.954 |
216.066 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
23.206 |
21.519 |
20.292 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
132.902 |
197.435 |
195.774 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
45.356 |
66.103 |
80.033 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
87.546 |
131.332 |
115.741 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
56.872 |
60.609 |
36.966 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
100.000 |
100.000 |
57.000 |
|
|
|
Dividend |
0.000 |
30.000 |
30.000 |
|
|
|
Tax on Dividend |
0.000 |
5.069 |
5.098 |
|
|
BALANCE CARRIED
TO THE B/S |
44.418 |
56.872 |
60.609 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
11.796 |
42.813 |
54.684 |
|
|
TOTAL EARNINGS |
11.796 |
42.813 |
54.684 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
88.573 |
142.630 |
92.300 |
|
|
|
Capital Goods |
10.545 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
99.118 |
142.630 |
92.300 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
291.82 |
437.77 |
418.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
7.41
|
9.74 |
8.26 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.50
|
15.19 |
14.49 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.29
|
17.84 |
19.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.43 |
0.55 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.63
|
0.64 |
0.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.22
|
2.57 |
2.14 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
30.000 |
30.000 |
30.000 |
|
Reserves & Surplus |
328.615 |
424.877 |
512.423 |
|
Net
worth |
358.615 |
454.877 |
542.423 |
|
|
|
|
|
|
Secured Loans |
253.861 |
288.907 |
307.449 |
|
Unsecured Loans |
0.000 |
0.000 |
31.643 |
|
Total
borrowings |
253.861 |
288.907 |
339.092 |
|
Debt/Equity
ratio |
0.708 |
0.635 |
0.625 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1351.538 |
1299.730 |
1155.331 |
|
|
|
(3.833) |
(11.110) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1351.538 |
1299.730 |
1155.331 |
|
Profit |
115.741 |
131.332 |
87.546 |
|
|
8.56% |
10.10% |
7.58% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG-TERM DEBT DETAILS – 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 |
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 |
No |
|
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 |
NOTE :
Registered office has been shifted from 415, Swastik Chamber, Sion
Trombay Road, Mumbai – 400071, Maharashtra, India to the present address w.e.f.
01.06.2012.
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
31.03.2011 |
31.03.2010 |
|
Rupee term loans
unsecured |
|
|
|
Rupee term loans banks unsecured |
28.643 |
0.000 |
|
Loans directors unsecured |
3.000 |
0.000 |
|
|
|
|
|
TOTAL |
31.643 |
0.000 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10312185 |
11/10/2011 |
80,000,000.00 |
ICICI BANK LIMITED |
LANDMARK, RACE COURSE CIRCLE, VADODARA, GUJARAT - 390007, INDIA |
B23254980 |
|
2 |
10311947 |
11/10/2011 |
350,000,000.00 |
ICICI BANK LIMITED |
LANDMARK, RACE COURSE CIRCLE, VADODARA, GUJARAT - 390007, INDIA |
B23201494 |
|
3 |
80027799 |
07/02/2011 * |
907,300,000.00 |
STATE BANK OF INDIA |
MAKARPURA INDUSTRIAL ESTATE BRANCH, 1ST FLOOR, VCCI
BUILDING, MAKARPURA, VADODARA, GUJARAT - 390010 |
B06119507 |
|
4 |
80027800 |
07/02/2011 * |
907,300,000.00 |
STATE BANK OF INDIA |
MAKARPURA INDUSTRIAL ESTATE BRANCH, 1ST FLOOR, VCCI BUILDING, MAKARPURA, VADODARA, GUJARAT - 390010 , INDIA |
B06119564 |
|
5 |
80022154 |
24/10/1996 |
2,000,000.00 |
THE SWAMINARAYAN CO OPERATIVE BANK LTD |
MADANZAMPA ROAD, BARODA, GUJARAT - 390001, INDIA |
- |
* Date of charge modification
OVERALL REVIEW OF OPERATIONS:
During the year,
Sales turnover decreased to Rs.1155.331 Millions as compared to Rs. 1299.730
Millions in the previous year. Net profit for the year decreased to Rs. 87.546
Millions from Rs.131.331 Millions in the previous year. The decrease in the
turnover was around 11% was due to overall recession and the Power/Oil/Gas
sector’s new projects/its expansion were temporarily kept on hold. However the
profitability has not been materially affected as compared with the previous year.
With the
achievement of the GDP growth in the country of 8.5% (against the target of 9%)
and targeted around the same, there is thrust by the Government on the
development for infrastructure projects viz. Roads, bridges, Ports, Refineries,
pipe and Gas supply and electricity generation, they have a great potential to
achieve the higher sales in the coming years as we are supplying mainly to
refineries and Pipe/Gas supply companies.
EXPORTS
During the year,
they could achieve export of their products amounting to Rs.121.641 Millions
which mainly comprises deemed exports as compared to Rs. 42.813 Millions of
previous year. With the world-wide recession, the demand for the power and fuel
remained low resulted into lower exports. However with the expected
improvement, they may still achieve the higher figures of exports in the coming
years.
FIXED ASSETS
- Land
- Free Hold Factory Land
- Factory Building
- Machinery
- Industrial X Ray Machine and Spectrum
- Dies and Tools
- Tools and Equipment
- Electrical Installation
- Furniture and Fixtures
- Vehicle
- Office Equipments
- Computers
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.61.48 |
|
|
1 |
Rs.98.24 |
|
Euro |
1 |
Rs.78.66 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.