MIRA INFORM REPORT
|
Report Date : |
22.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
GLOBAL POWERSOURCE (INDIA) PRIVATE LIMITED (w.e.f.11.09.2008) |
|
|
|
|
Formerly Known
As : |
FIAMM GLOBAL (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-10, Satyam Shopping Centre, M.G. Road, Ghatkopar (East), Mumbai –
400077, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
04.08.2006 |
|
|
|
|
Com. Reg. No.: |
11-163562 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.80.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74140MH2006PTC163562 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMF04740B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF9963C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trader,
Importer and Distributor of UPS and Batteries. |
|
|
|
|
No. of Employees
: |
207 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Profitability of the company is low.
However, the rating takes into consideration GPPL’s established
position in the industrial uninterrupted power supply battery segment and
sound liquidity position of the company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for business dealings at usual trade
terms and condition. |
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
slowly 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 = BB+ |
|
Rating Explanation |
Inadequate credit quality and high credit
risk |
|
Date |
26.11.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
26.11.2013 |
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. Nirav Doshi |
|
Designation : |
Account and Finance Manager |
|
Contact No.: |
91-9320064622 |
|
Date : |
20.10.2014 |
LOCATIONS
|
Registered Office / Head Office : |
C-10, Satyam Shopping Centre, M.G. Road, Ghatkopar (East), Mumbai –
400077, Maharashtra, India |
|
Tel. No.: |
91-22-25110646/ 40460646 |
|
Mobile No.: |
91-9320640646 (Mr. Sahil Kumar) |
|
Fax No.: |
91-22-25111042/ 21021042 |
|
E-Mail : |
|
|
Website: |
|
|
Area: |
3000 sq. ft. |
|
Location: |
Owned |
|
|
|
|
Corporate Office |
C-701/2/3, Neelkanth Busines Park, Vidyavihar (West), Mumbai – 400077,
Maharashtra, India |
|
|
|
|
Warehouse: |
B S 67, Mitali Commercial Complex, Rehnal Village, Anjur Phata,
Bhiwandi, Thane, Maharashtra,
India |
|
Area: |
10000 sq. ft. |
|
Location: |
Owned |
|
|
|
|
Special Economic Zonal Office 1 : |
Unit No.97, Plot No.294, Surat Special Economic, Sachin, Surat -
394230, Gujarat, India |
|
|
|
|
Special Economic Zonal Office 2 : |
Plot No.43/A/SDF, 1st Floor, 'D' Block, Cochin SEZ
Kakkaned, Cochin - 682037, Kerala, India |
|
Tel. No.: |
91-484-2413369 |
|
|
|
|
Branch Offices : |
Located at:
|
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Dipak Dhirajlal Gandhi |
|
Designation : |
Director |
|
Address : |
405, Sahyadri, Neelkanth Valley, Ghatkopar (East), Mumbai – 400087,
Maharashtra, India |
|
Date of Birth/Age : |
07.08.1955 |
|
Date of Appointment : |
04.08.2006 |
|
PAN No.: |
AABPG7719F |
|
DIN No.: |
00004313 |
|
|
|
|
Name : |
Mr. Ashwin Kisandas Parekh |
|
Designation : |
Director |
|
Address : |
Wing A, Flat No.201, 2nd Floor, Nityanand Krupa, M G Raod,
Ghatkopar (East), Mumbai – 400077, Maharashtra, India |
|
Date of Birth/Age : |
18.07.1956 |
|
Date of Appointment : |
10.11.2011 |
|
DIN No.: |
05117212 |
KEY EXECUTIVES
|
Name : |
Mr. Sahil Kumar |
|
Designation : |
General Finance Manager |
|
|
|
|
Name : |
Mr. Nirav Doshi |
|
Designation : |
Account and Finance Manager |
MAJOR SHAREHOLDERS
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Dipak Dhirajlal Gandhi |
|
5562500 |
|
Dipak Dhirajlal Gandhi HUF |
|
2437500 |
|
Total |
|
8000000 |
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 |
%20PRIVATE%20LIMITED%20-%20291027_MIRA%2022-Oct-2014_files/image013.gif)
BUSINESS DETAILS
|
Line of Business : |
Trader,
Importer and Distributor of UPS and Batteries. |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash / Advance Payment |
|
|
|
|
Purchasing : |
Cash / Advance Payment |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
||||||||||||||||||||||||||||||
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No. of Employees : |
207 (Approximately) |
||||||||||||||||||||||||||||||
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Bankers : |
· Union Bank of India, Silver Court, M G Road, Ghatkopar, Mumbai - 400077, Maharashtra, India · HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013, Maharashtra, India · Abu Dhabi Commercial Bank Limited, 75, Rehmat Manzil, Veer Nariman Road, Churchgate, Mumbai - 400020, Maharashtra, India
|
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Facilities : |
Cash Credit = Rs.400.000 Millions (From Union Bank of India) Cash Credit = Rs.250.000 Millions (From Standard Chartered Bank) Cash Credit = Rs.200.000 Millions (From Development Bank of Singapore) Cash Credit = Rs.200.000 Millions (From HDFC Bank Limited)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Nitin Pota and Associates Chartered Accountants |
|
Address : |
D-204, Kailas Esplanade, L.B.S. Road, Ghatkopar (West), Mumbai – 400
086, Maharashtra, India |
|
Tel No.: |
91-22-25000590/ 25005087 |
|
Fax No.: |
91-22-25005087 |
|
E-Mail: |
|
|
Website : |
|
|
PAN
No.: |
AADPP2784R |
|
|
|
|
Associate Company : |
· Rocket Batteries (India) Private Limited · Global Tele Tower (India) Private Limited |
|
|
|
|
Group Company : |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
||
|
|
|
|
|
||
|
8000000 |
Equity Shares |
Rs.10/- each |
Rs.80.000 Millions |
|
|
|
|
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
80.000 |
80.000 |
50.000 |
|
(b) Reserves & Surplus |
131.672 |
110.073 |
86.061 |
|
(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) |
211.672 |
190.073 |
136.061 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
21.546 |
47.314 |
71.588 |
|
(b) Deferred tax liabilities (Net) |
2.995 |
1.915 |
1.456 |
|
(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) |
24.541 |
49.229 |
73.044 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
293.208 |
332.477 |
355.388 |
|
(b) Trade payables |
619.877 |
464.887 |
254.360 |
|
(c) Other
current liabilities |
0.883 |
4.924 |
1.975 |
|
(d) Short-term
provisions |
38.379 |
36.716 |
23.823 |
|
Total Current
Liabilities (4) |
952.347 |
839.004 |
635.546 |
|
|
|
|
|
|
TOTAL |
1188.560 |
1078.306 |
844.651 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
65.366 |
54.005 |
18.752 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
30.838 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
6.191 |
4.191 |
1.691 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
9.016 |
5.948 |
5.749 |
|
(e) Other
Non-current assets |
0.072 |
0.174 |
0.303 |
|
Total Non-Current
Assets |
80.645 |
64.318 |
57.333 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
152.681 |
152.415 |
91.110 |
|
(c) Trade
receivables |
721.292 |
620.004 |
480.205 |
|
(d) Cash
and cash equivalents |
145.524 |
186.337 |
177.866 |
|
(e)
Short-term loans and advances |
3.116 |
3.886 |
2.368 |
|
(f) Other current
assets |
85.302 |
51.346 |
35.769 |
|
Total
Current Assets |
1107.915 |
1013.988 |
787.318 |
|
|
|
|
|
|
TOTAL |
1188.560 |
1078.306 |
844.651 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3108.195 |
2690.812 |
2285.131 |
|
|
|
Other Income |
20.126 |
17.451 |
13.700 |
|
|
|
TOTAL (A) |
3128.321 |
2708.263 |
2298.831 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
2833.674 |
2477.623 |
2027.975 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(0.266) |
(61.305) |
19.445 |
|
|
|
Employees benefits expense |
76.361 |
67.353 |
39.188 |
|
|
|
Other expenses |
115.473 |
101.772 |
101.811 |
|
|
|
TOTAL (B) |
3025.242 |
2585.443 |
2188.419 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
103.079 |
122.820 |
110.412 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
68.647 |
84.877 |
82.094 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
34.432 |
37.943 |
28.318 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.178 |
2.772 |
1.847 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
31.254 |
35.171 |
26.471 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
9.655 |
11.159 |
10.389 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
21.599 |
24.012 |
16.082 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.70 |
3.00 |
3.22 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
0.69 |
0.89 |
0.70 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.01 |
1.31 |
1.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.64 |
3.27 |
3.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.19 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.49 |
2.00 |
3.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.16 |
1.21 |
1.24 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
50.000 |
80.000 |
80.000 |
|
Reserves & Surplus |
86.061 |
110.073 |
131.672 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
136.061 |
190.073 |
211.672 |
|
|
|
|
|
|
Long Term borrowings |
71.588 |
47.314 |
21.546 |
|
Short Term borrowings |
355.388 |
332.477 |
293.208 |
|
Total
borrowings |
426.976 |
379.791 |
314.754 |
|
Debt/Equity
ratio |
3.138 |
1.998 |
1.487 |
%20PRIVATE%20LIMITED%20-%20291027_MIRA%2022-Oct-2014_files/image015.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
2,285.131 |
2,690.812 |
3,108.195 |
|
|
|
17.753 |
15.511 |
%20PRIVATE%20LIMITED%20-%20291027_MIRA%2022-Oct-2014_files/image017.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
2,285.131 |
2,690.812 |
3,108.195 |
|
Profit |
16.082 |
24.012 |
21.599 |
|
|
0.70% |
0.89% |
0.69% |
%20PRIVATE%20LIMITED%20-%20291027_MIRA%2022-Oct-2014_files/image019.gif)
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
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 |
Yes |
|
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
LONG TERM BORROWINGS |
|
|
|
From Banks and Financial Institutions |
0.257 |
16.480 |
|
From Shareholders and Group Companies |
20.938 |
15.894 |
|
From Others |
0.000 |
2.925 |
|
Total |
21.195 |
35.299 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10514808 |
31/07/2014 |
290,000,000.00 |
DBS Bank Limited |
Capitol Point, Baba Kharak Singh Marg, Connaught Place, New Delhi, Delhi - 110001, India |
C16364499 |
|
2 |
10451668 |
05/09/2013 |
20,000,000.00 |
Union Bank of India |
Silver Court, M G Road, Ghatkopar, Mumbai, Maharashtra - 400077, India |
B86005931 |
|
3 |
10423506 |
14/03/2014 * |
850,000,000.00 |
Union Bank of India |
Union Bank Of India, Silver Court, 1st Floor, M. G. Road, Ghatkopar (E), Mumbai, Maharashtra - 400077, India |
C04335303 |
|
4 |
10375907 |
27/07/2012 |
20,000,000.00 |
Union Bank of India |
M. G. Road,, Ghatkopar (East), Mumbai, Maharashtra - 400077, India |
B57873887 |
|
5 |
10365704 |
28/06/2012 |
800,000.00 |
Union Bank of India |
Silver Court, 1st Floor,, M. G. Road, Ghatkopar (W), Mumbai, Maharashtra - 400077, India |
B43715507 |
|
6 |
10231548 |
28/06/2010 |
195,000,000.00 |
Standard Chartered Bank |
Sme Credit, 23-25, M G Road, Fort,, Mumbai, Maharashtra - 400001, India |
A90229204 |
|
7 |
10188544 |
09/11/2009 |
50,000,000.00 |
Union Bank of India |
Ghatkopar (East)
Branch, Silver Court, 1st Floor, M. G. Road, Ghatkopar (E), Mumbai,
Maharashtra - |
A74106220 |
|
8 |
10171992 |
13/03/2012 * |
200,000,000.00 |
Union Bank of India |
Silver Court, M G Road,, Ghatkopar (East), Mumbai, Maharashtra - 400077, India |
B36797850 |
|
9 |
10110306 |
13/03/2012 * |
540,000,000.00 |
Union Bank of India |
Silver Court, M G Road,, Ghatkopar (East), Mumbai, Maharashtra - 400077, India |
B36800274 |
*Date of modification Charges
FIXED ASSETS
·
Mobile
·
Computer
·
Air Conditioner
·
Battery Racks
·
Battery Testing Equipment
·
Weighting Scales
·
Projector
·
Fax Machine
·
Furniture
·
Camera
·
Cycle
·
Electrical Fittings
·
Office Equipments
·
Car
·
Scooter and Bike
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.61.30 |
|
|
1 |
Rs.99.16 |
|
Euro |
1 |
Rs.78.59 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NB |
NEW BUSINESS |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.